Promising future for career in oil and gas

  

singapore oil and gas

Chemicals and oil & gas sectors are Singapore's main economic pillars and the Development Board for Economy has been working tirelessly to spur growth and employment prospects. This article profiles some industry veterans for an in depth look inside the industry.

Mr. Keng Yang, a general manager for maintenance for Chevron Oronite, has an important task of ensuring top notch safety conditions at its company plant located in Jurong Island. Safety is top priority and workers are mandated to halt production under different circumstances. People are constantly watching out each other's safety by reminding each other to out on protection glasses or safety helmets. The work revolves around human lives and not just dealing with machines. He is responsible for overseeing 70 team members under maintenance and 150 contractors. Communication and interaction is part of every day's job. Mr Lim started in supply chain management after graduating from NUS and likes to go fishing during his free time. He rose to become the general manager in 2010 and is on the way to relocate to California for his overseas posting. He hopes to bring in fresh perspective and knowledge to contribute to the Singapore plant.
Mr. Julian is a VP for site operations for Croda International, a chemicals manufacturer. He oversees 5 production centers around Asia. His role centers on interaction with diverse team members. His hobby is sports where he enjoys tennis, badminton as well as golf. Mr Yeo graduated from NUS as well and rose up the ranks and currently is on heavy travelling schedule. His experience includes heading a new Jurong plant commissioning by starting out as a process engineer before being promoted as head for operations. He craves the challenge and complex decisions which entails from his role. His ambition used to become a doctor but he is satisfied with his current standing and career path.
Ms Justina Ibrahim is an unlikely corporate high flyer in the oil & gas industry, she has stamped her mark as an engineer who is independent and competent with the role of project manager for Cameron Singapore. She is the team leader for 12 different project managers whom are responsible for pitching equipment deals for oil extraction. It is a far cry from the vibrant electronics sector where it is much more dynamic and involves big equipment. Projects can take many years to materialize. She switched career path after getting a degree in management engineering. Things move really fast and she work hard day and night to ensure client's satisfaction. She rose from the ranks of planner and specialist. She relishes the challenge every day as well.
The future of chemicals, oil as well as gas sector is looking good. China and India has growing appetite for energy source. UN estimates that in 2030 we will consume 45% more energy. Thus exploration activities for oil & gas moved into the deeper oceans. More high tech equipment are needed and Singapore has taken advantage to be a manufacturing hub for specialized equipment. The sector grew 10% for every year since 2007 up till 2012.Singapore was made the regional HQ for many big global players. Halliburton Completion Toll is one prime example. Another company is Cameron International. The refining sector and petrochemical industry had grown by leaps and bounds too at the expansion at Jurong site.
About 100 companies have established footprints on the island with a refining capacity totaling 1.3 million worth of barrels every day, making Singapore ranked 4th in Asia in terms of refining capacity.Jurong island attracted in excess of $35 billion foreign investments and contributes about 30% in terms of manufacturing output for Singapore. The companies liked the business friendly environment in Singapore and skilled workforce that enable emerging technologies to be developed fast. Talent is important to drive further growth and productivity in this dynamic industry. Technologies go obsolete real fast and there is constant need for upgrades and knowledge update in order to operate a plant effectively while driving down costs and increasing output per hour. Singapore has many capable workers who are able to handle complex research projects and manufacturing facility. Singapore Government is always looking to attract talent by organizing new initiatives. A groundbreaking Chemical Process Center of Technology was launched in Jurong in 2004 to provide skilled training for engineering fresh graduates.
A Professorship programme for Petroleum Engineering will be launched in the coming year to equip engineers with petroleum engineering knowledge. NUS launched a subsea engineering programme as well to bolster R&D competencies for those in the subsea engineering field. Singapore will continue to invest in the promising sector. Opportunities are everywhere for interested engineers. Singapore can proudly claim to invent advanced products in the coming years while having a global presence and recognition from customer all over the world.

 

Condominium Sale in Cambodia

  

The Bridge Cambodia

The real estate developers, taking a few steps further and constructing the Condominiums, to benefit the people as the prices for land are increasing day by day, so naturally people are intended to live in condominiums said the deputy CEO. Last year, as a part of the development program in Cambodia, the country launched retail units for sale. The property developers have started marketing in eight global markets. Singapore is the first to invest in these markets and added Hong Kong and now Cambodia also added last year.

The Bridge, joint venture is located in the center of the Cambodian capital, Phnom Penh. The venture is of five storey platform where there can exist nearly 630 retail and approximately 2, 35,000 sq ft saleable area. The mall contains a supermarket and also a food plaza. There are different sized units; the retail units are smaller than that of the strata F&B units. The joint mixed development venture consists of more than 700 residential towers, where the maximum units are occupied. The estimated price of the retail units is approximately US$750-800 psf, with a starting price of approximately 90,000 to 1,00,000 US$, There is a price variation for the F&B units, it is nearly double the retail units, their starting average price is approximately 2,00,000 -2,50,000 US$
To attract the foreigners, the venture has shared some of the units to other countries. In this connection Oxley is going to allot one third of its retail and F&B ventures for Singapore. The Oxley company is going to charge a registration fee nearly 1,400 to 1,500 US$ at the time of launch. After the registration, the clients have to pay a down payment of 20% of the slab and sign on the sale or purchase deed. To facilitate the clients, the company is offering an installment payment. After the initial down payment, the client can relax for six months and later he has to pay 10% as second payment. After the second payment the client can take time for the remaining amount around a couple of years, and has to pay after the completion of the project that is going to be completed in 2018.
The Cambodian law states that foreigners are not supposed to buy land and they are not supposed to buy even the residential and commercial complex in the Cambodian units in the ground floor, to fulfill this, The Bridge allows the Cambodians in the ground floors and the top floors are allotted to the foreigners. The Bridge is providing another novelty to its clients that are the developer will manage the units on behalf of the owners. He will lease the units and controls them. This is the first time in Cambodia, this type of facility the investors are enjoying. This even further facilitates the investors by enjoying the higher rents. In this issue the company, Oxley is assuring the clients with 6% of the rental yield for a period of minimum five years. This deal has an extension of further five years. The executive Chairman of Oxley expresses that an extension in the rental strengthens the clients and lessen their fears, those who are having a different opinion that the rental malls are not properly managed. The organization, Oxley has opened a consulting unit to facilitate the clients. Suppose if any investor wants to dispose of his unit, the purchaser and the owner both have to sign on the agreement with the developer.
The Oxley future plan is to launch a third venture in Phonon Penh by the ending of this year.s In this third venture the developer is planning to develop a mixed units like residential and hotel units and the executive chairman also stated that his fourth venture is purely residential. The fourth project contains only condominiums and strata houses only. Let us wait and select the venture we prefer for. s

 

Online Banking In India By Singapore

  

Online Banking In India By Singapore from dbs

The goal of Development Bank of Singapore (DBS) this time round is to extend a branch of its own in India. It is planning to do it with a style in which will make the other banks to lose the game. This is because it will be promoting all the customers by offering them seven percent discount. The bank of Singapore is promoting the customer far much ahead such that, the online banking which will enable everybody to access without necessarily any amount of money in the account. The bank is motivating the customers because they will be in a position to access their accounts any time and also offering them a big interest of seven percent which is very motivating compared to what other banks are operating. In addition, as compared to other banks requirements, surly this bank of Singapore in India will be a total confusion to all other clients in other banks because of digital and good accompaniments which are for the betterment of the people sincerely speaking.
This bank of Singapore to India will also be at all times in a position to be accessing the automated machines without any limit. The customers will like it more because they will not be required to go to the branch and open their accounts there, they will just be opening anywhere at their own comfort because whoever has a smartphone will have won it in relation to opening the account. This will be bringing joy to many as it will save time instead queueing at the bank, one will just be transaction online anywhere. This will give opportunity to many especially the busy people who they do not have much time to go to the bank and wait for their turn to be served. It will enhance good service to the customers who have complained over the years due to rates in which the other banks are charging them. Indeed, this bank of Singapore will be aiming destroying the operation ot the other banks because the services which will be offered by the bank of Singapore are the best in the present time. This is because we are living in a modern lifestyle whereby we can do so many things online. No one will like to waste hours standing awaiting to be served at the bank. No one will hate serving him or herself with all the comfort that one is in need of. It will be such a wonderful service offered by the bank of Singapore.
The chief executive officer of the Developmental Bank of Singapore said that they are very much committed to serve their customers even those who are in the remote areas. He said that they are ready to offer various banking services to their people and especially those who are carrying on with their businesses. He said that they have put into to account to achieve fifty thousand crores in a span of five years. In addition, they are ready to offer ten thousand crore loans to people who are doing retail type of business. He also said they are a totally and with all means prepared to extend this branch of Singapore to India for Asia is also a nation with her banks operating in other countries and with this there is no way whatsoever they are going to stop extending the branch of bank of Singapore to India. They also have the confidence that India will have the best service from the bank of Singapore. They are completely willing to cause that steep competition in India.
He further said that India has the best facilities which are operation up to date and this is nowhere else in the world where it can be compared with. It will the first digital bank over the world. The practice on online services will be the best whereby there will be no need to go and sign using a pen. The services will be done from the mobiles and also the computers where there will be the exact credentials which are the artifacts of the unique and true individual person. There will be safety and every customer can have the access to the account at any given time without any restriction.
The chief executive officers assured that the customers will be in a position to have their own accounts as they can download them and their fingerprints certified in the local restaurants, precisely five thousand restaurants during the day, where they will be assisted. He also said that they are offering interests rates at a lower price compared to other banks. He said that the online services will lead the bank of Singapore lowering all what they have been spending in their banking offices in terms of people who offer services said over the world people are embracing digital services and over hundred million customers have been have shifted to online services. In Singapore most of business are digital.

 

Strategic Tata relocation to Singapore

  

Strategic Tata relocation

With the growth in world businesses, multinationals are going beyond their expectations to expand their clientele base by moving closer to them by all means possible. This can be articulated by the recent move by India's multinational Tata that has moved its functions to Singapore. The move is a mutual benefit to the host state as well as the company itself, as it tries to step up and do things in a different way to conquer the competitive nature of the markets. Tata international is a parent company that deals with both agricultural related commodities supplies as well as exploration , processing and trade in minerals.

Factors of production are very crucial for the survival and competitiveness of any business. This was one of the highest consideration that Tata international took advantage of when deciding to relocate to Singapore. Singapore well experienced, focused and available traders to do business. The company will also enjoy various incentives from financial institutions and the government in the view of support for the thrive of the business to support the general economy. There are well laid out structures on finances that are offered at a low and affordable schemes for conduct of business.
The availability of shipping in bulk eases congestion thus facilitating fast movement of goods either coming in or going out. There are high costs that are hidden that are saved when a business environment guarantees that a product or raw material will reach its destination without any delays, whatsoever. A state of the art infrastructure is a key reason for thrive and success of businesses being conducted from the heart of Singapore, this was a key interest for consideration by Tata international.
The relocation of the firm to Singapore came as a challenge to all other players in the industry to come and complement the established businesses in Singapore. More global traders in the fields of manufacturing, metals and other unexploited fields are encouraged to anchor or base their business functions and activities in Singapore. Currently, Singapore enjoys a business community comprised of over a hundred and twenty global traders, with more looking at the prospect of also jetting into the business hub of Pacific Asia.
Anyone out there running a metal and minerals enterprise should consider anchoring their business functions at the heart of Singapore. The country has undisputed support of these businesses creating a pool of resources to maximize output, stabilize the market as well as keeping a constant supply of products. There is a strong connectivity of these businesses that facilitates their success and thrive even at hardest of their time. In a view to expound and spread the success, the ministry of trade and industry continually encourages and welcomes all players in the sector to come together and absolutely tap to the good working policies laid out by the government.
To give a clear insight of the nature of the metal and mineral industry, the high profile mineral companies are based in Singapore. The companies compromise of over 70% of the number of the firms around the world. There are over 60% of the world's steel processing and manufacturing companies based in Singapore. This is a showcase of the viability and reliability of the trading in Singapore.
Advantages enjoyed by pulling of all of these business together helps in sourcing of crucial market surveillance systems that will facilitate decision making. This pool of the industry enjoys an organized and well facilitated market research and survey at all times. There are other interconnected and related industries that are influenced by the survival of this industry. These industries have established a healthy working interaction and bonding with other industries providing other forms of logistics and other services, to suit their success.
The government offers a platform for all the firms to a forum to discuss their progress, success and limitations and all together come up with suitable structures for the days ahead. There is an increasing trend in the volumes of contracts derived from iron ore, showcasing a suitable exchange role. Singapore's iron ore products are currently trading at over 1.1 billion tons, that is close to 90% clearing of worldwide iron ore trade.

 

Assertive Commerce Center

  

Assertive Commerce Center

Nation branding desires to shape and manage the status of the countries, with some approaches to value the goods and its importance in the global market by their different characteristics. Nation branding is exercised by most of the Countries to increase the interest of the customers by creating more affirmative conditions for foreign investments, to develop tourism and to increase the trade with fellow states.

Now the Smart Singapore is going to develop an attractive Hub, to attract all the Asian countries for branding and marketing. Now all the multinational companies are ready to introduce into this hub to supply the products according to the Asian consumer's interest. Now the Singapore's Economic Development Board is beautifying the talent, with their professional team, to help the companies to lead the market with their products.
Amazing news for the Asian Women, by branding and marketing the products through this hub there are many exciting outcomes for the products. To know the truth, here is an example, A scientist in multinational company he actually did a wonderful job, where the women will be amused. He created the different products, related to beauty by using his affective technology, by using that product the women look 10 years younger, Is it not amazing? Wow! It's really amazing. The scientist, along with his team, he always explains that the branding and marketing hub is always the best place for innovation. The scientist who had a masters degree in neurobiology, he stated that, the products which are going to be developed in future, contains ‘Smart ‘ ingredients, which spot to the cell types according to the age, and his main targets are skin and hair types. The scientist won a *Star National scholarship for his works, and invited by the German University to continue his studies in cell and molecular biology. After his thorough research for nearly five years, multinational companies had taken him into the branding and marketing field. He gave his opinion that consumers are more cautious about the outcome of the product not the product by itself. With his words, it is clear that to meet the international standards, the companies have to pay more attention towards branding and marketing trends.
The director of e-commerce, who is running a fashion blog, explains that advertising plays a very substantial role and helps the customers to walk with their interests. She explains that creating with creativity made her to reach to the top position as first director of e-commerce. She also explained that her dream comes to reality. With her experience she explained that she always shows interest on the working condition of the products. With her passion towards work, she won an advertising award. Everybody can create a website to market their products, but there is a lot of difference, and the market experts have their different style to advertise their products. So, it is better to approach the advertising experts to brand and market their products. She also stated that digital technology has totally changed the life style of the people. This latest technology gives the complete skeletal sketch of the product about the prices, product reviews and how to advantage from the product, and complete information by having just a small click on the button. This advantageous both the customers and producers show their talent. E- Commerce has changed completely, the trading markets and we can expect more to see in the future. By looking at the reviews of the products company can know the customers' opinions towards their products, ultimately they can rectify and change to meet the need of the customers.
Now the Asian Countries ensure that Singapore hub will be in the leading position to facilitate the consumers and to develop and maintain the global brands.

 

Eight adorable buildings

  

Reflections evening view

Over the years most of the people tend to think all what can be seen or heard is just the same as what has been said or seen before as well. This is not the case when it come to the buildings in the Singapore. Specifically, the best eight buildings which have made Singapore get most of the glory as a result of such tall buildings therein. They have been designed by the most known architects in the whole world. For sure they must be very amazing to many even if not to everybody. Let us look the following Eight tall buildings in Singapore as follows:

The first one is Keppel bay reflections (photo), finished in the year two thousand and eleven. This building is known worldwide due to all what it contains. It is in Asia whereby the building is used by the residents. They live in the wonderful building which has amazing curves which brings the idea of a art. This building was built by the architect called Daniel Libeskind who is one of the best architects in the whole world. The building is tall and it contains short other buildings as well. The building has combination of towers which are six in total. Some have floors which are from twenty-four to forty-one. This is such a tall building indeed. It also has other apartments which also entail some gardens used by the residents. In all the towers there is a bridge which connects who those who live in there as well as the guests. The bridge enables both those who are guests as well as the residents to have a clear view which is mount sentosa and Faber.
The second building is Interlace which was completed in the year two thousand and thirteen. This is one of the buildings which brings wonders to those who pass near it as well as those who spend therein. This building was the best recognized in the year two thousand and fifteen. In addition, it was the one which won 2014 award for the urban habitat. It has a total number of thirty-one floors which look like pockets to allow light and air to pass through. This building enhances the sites of waterfall terrace and lotus pond, water park at central square, Theatre plaza, valley spa, play hills and Bamboo Garden which are the most prestigious places visited.
The third building is the Bank Apartment pearl. Over the years this building has known as the one tallest in the in the URA projects. In Singapore this building has been a residential building. It has a total number of thirty-eight floors. It has been located at Outram park. This building was planned by Archurban architect's planners and was finished to be built in the year1976.By this time this building was the only one with the largest apartments hence made it to be a site to be viewed. This building has area for shopping, communal and parking space located on floor 28th.
The fourth building is the sky habitat which was completed in the year two thousand and fifteen. This building has a total number of thirty-eight towers with three bridges linking them. It is a building which has a form of transformed habitats by Bishan skyline. There are sky gardens on the fourteen and twenty fourth floors and also a pool feature in thirty-eight floor. It has adequate ventilation and greenery features vertically.
The fifth building is the Orchard scotts Residents which was completed in the year two thousand and eight. This building is outstanding on its own way because it has facades which are shimmering. It is entailing three blocks which are clearly displayed in artworks contemporary. This building was designed by the firm Arquitectonica who also won FIABCI awards. It is one of the buildings in Singapore which is of great site to be viewed by many.
The sixth building is The colonnade which was completed in the year 1986. This building took quite a while to be completed since 1980 up to 1986.This was due to lack of enough capital in order to build it as it was initially planned by Paul Rudolph as the architect. This is one of the buildings in Singapore which is in Grange road. It has interlocking units. It is one of the amazing buildings in Singapore.
The seventh building is Sculpture Ardmore. This building was completed in the year 2014.It has 36 floors and is built at Ardmore park. It was planned by Carlos Zapata who was the architect. It has carvings and also glass fins.
The eighth one is Oliv building. Was completed in the year 2013.This building has open spaces in a vertical gardens and has 23 units. Each floor has only 2 units. It has irregular wall in shape and resembles round which is wavy. Was built by Mok Wei. It is one of the rare buildings in Singapore.

 

Singapore is Great for Businesses

  

singapore is great for business

For over a decade now, the nation of Singapore has had the friendliest economy as it relates to business and the demand and supply of the economies of the world. The guiding environment of the country makes it perfect and very beneficial for striving entrepreneurs. The evidence to support this claim comes from the league table of the World Bank. The ease at which business is conducted is measured and reported on the ‘Doing Business' report that is released on an annual basis. It is measured for a hundred and eighty nine economies and is based on business regulation of ten areas including, acquiring credit and electricity, getting a firm started and trading over borders. Singapore leads this report with New Zealand close behind with measurements of 87.34 and 86.79 respectively.

According to the report it will take approximately two and a half days to get a company assembled by entrepreneurs in Singapore while in lower ranking economies such as in countries like Eritrea it will take about eighty four days for the same process to be completed. The report determined that is has gotten a lot easier to start a new business worldwide in recent times thanks to the radical growth of the eastern world's economy. It took approximately fifty one days previously to start a business and that number has half in recent times to about twenty five days.
This report is aimed at global coverage disclosing the economic state of the countries of the world. The data that is able to be realistically collected in the lower world countries' economy determines the indicators used for the country. The report lacks certain important information that may be crucial to firms. There are two sides to a coin but this reports is made only on the factors that positively affects the economies of the world. Some information that is excluded includes the market size, security, bribery, corruption and other unlawful acts and the possible stability of micro economy.
The nations that perform the best are not usually the ones that have little regulation or less regulations and rules. The strongest nations are usually the ones that have good rules and regulations that can be determined as the best. These nations ensure transparent and efficient business function along with in their markets as well. The interest of the public is also protected by the country thanks to these good rules and regulations. The nation of Singapore needs to stay current by always upping their value and staying abreast of the competing entities regardless of the fluctuating costs of business, labor policies and slowing down of economic growth.
Switzerland has the number one competitive economy for years now with Singapore's economy right behind it. The World Economic forum is the reference that supports the claim of the top world economies. The yearly Global Competitiveness Report states the position of the world economies annually and this has been the state of the report for almost a decade now, Switzerland leading with Singapore right behind it. This will change in coming years as the Chinese economy is growing rapidly and exponentially and is expected and predicted to be the vastest economy in the world in the very near future. The global reports will be significantly different in the coming years with the increase in size of a lot of Asian countries economies. Investors will have to also keep abreast of the radical trends of the economies of the world's countries. The radical changes of the markets of the world will be significantly advantageous to a lot of entrepreneur and investors that are seeking new business venture in this time of change.

 

Laying the foundation for the Future

  

EDBsg

Executive director for logistics for Economic Board of Development for Singapore commented that focus on manufacturing innovation, which is Singapore's core strength will allow the country to take advantage of trade growth around Asia. There is a marked slowdown in Asian trade, but the growth will resume with increasing young adult population and booming middle class. Asia will see booming growth for coming future years, far better than other parts of the globe. Singapore's EDB, the main economic agency is in charge of almost 40% GDP for the country.

The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore's position as a global centre for business, innovation, and talent.
 
"EDB is selective in engaging and promoting investments which meet the resource profile and the aspirations of Singaporeans. We are committed to ensuring that activities in Singapore are fit for the future and sustainable in the medium to long term.
We are confident that these efforts will accelerate our shift from being a value adding economy to being a value creating one, to bring about sustainable economic opportunities for all."

Dr Beh Swan Gin, Chairman, Singapore Economic Development Board

Looking back in time, South East Asia trade harmonization in 2015 will see 10 member nations doubling trade volume, with 25% originating from inter Asia trade. ASEAN countries comprising of Brunei, Malaysia, Cambodia, Laos, Malaysia, Singapore, Myanmar, Philippines, Vietnam and Thailand has 600 million strong population. ASEAN relationship will see higher commitment for freer cargo flow and finance movement. There will be convergence and standardization of trade practices as well as transportation infrastructure. Singapore Port suffered lower port volume movement due to global trade slowdown. Container traffic at five main terminals operated by one and only PSA Singapore rose only 1.4% year on year during the 1st half for the year, down from 5.2% growth in 2011 and 2012. Jurong Port is another port facility handling containers. Manufacturing output in the island city state fell 5.9% year on year in the month of June. If biomedical manufacturing products are excluded, the total output fell just 0.5%. Biomedical production is more cyclical in nature hence the demand fall is more severe compared to other stable industry.
Rolls-Royce Singapore is the sole company based in Asia to manufacture Boeing's engine for its latest 787 Dreamliner model as well as Airbus A300 jumbo jets. This solidified Singapore's status as a high value chain manufacturer. 40 years ago Singapore were known to American consumers as a low cost manufacturing hub. Engineering products are another key output where almost 70% of jack up oil rigs originating from Singapore. Singapore is also a top manufacturer for semiconductor components. If we analyze the history of Singapore manufacturing scene, over the last 40 years low value manufacturing has been replaced with high value production output.
Comprehensive infrastructure has enabled Singapore's factories to be more competitive against its global peers. Changi Airport was ranked 12th in terms of cargo handling volume in 2014 and its port ranked 2nd in the whole globe right behind Shanghai. Singapore topped the World Bank ranking for logistics and trade flow in 2012. The logistics industry in Singapore employs around 200,000 skilled labor and contributes 8% to the nation's GDP. Manufacturing on the other hand contributes 25% for Singapore's GDP. Singapore port is not spared from competition from all fronts. In South East Asia alone, Colombo Port in Sri Lanka as well as Port Klang are vying a piece of the trade pie. Singapore has managed to come out tops due to its dominant container capacity and reliable and efficient service coupled with stable political scene.
85% of roughly 30million TEUs that passes through Singapore annually are transshipped, with the remainder 15% being direct exports and imports. A planned new port located in Tuas will be expected to expand Singapore's capacity to 65 million TEU by 2027. Tuas will serve as the new western transshipment hub. Its Pasir Panjang Port Terminal will undergo expansion in order to increase capacity by fifteen million TEU. Total amount spent will be around $3.5 billion. Singapore has the potential to provide specialized service that serve the healthcare, aerospace and oil & gas industry. About 20 top global 2rd party logistics enterprises have solid base in Singapore. This will help Singapore advance the specialized service sector. DHL, UPS as well as World Courier have started launching healthcare logistics services, using Singapore as a main hub. DHL and Panalpina had used Singapore as an oil & gas hub for logistics.
Singapore's strong economic development focus and world class education system can assist companies in refining their operational procedures to excellent levels. There is unlimited growth potential for supply chain solutions providers. Asia has yet to come to a standardized operating landscape hence shippers will have difficulty attaining efficiency for the supply chain management. There is much to be learned from European and US counterparts. Manufacturers are constantly on the lookout for efficient supply chain management solutions across all geographical regions. Trade within Asia and with countries outside of Asia will continue to grow and companies should be well positioned to capture the growth.

 

Property Acquisition trend in Singapore

  

singapore property 2018

After 3 years of falling prices, 2018 is looking like the year that Singapore property market turnaround finally rises up again.

Real estate value rose in excess of 80% in Singapore from 2008 to 2013. Government stepped up its regulatory measures to control the overheating market for fears of a market bubble. The measures worked effectively bringing down prices by 1.4% in 2014 and another 3.7% in 2015. In 2016, everyone is closely watching the market outlook. Jones LangLasallereseach director MrOng expects prices to fall another 8% in view of the slowing ecnomoy.MAS conducted a study which concluded that Singapore home prices would be 17% higher if government had not introduced a slew of cooling measures.

The government has been cautious to ensure first time home buyers whom were citizens of Singapore were not affected. Home buyers acquiring their 2nd and 3rd residential units had seen their transaction cost skyrocketed. Some complained that government measures were too stringent, causing a higher than expected fall in property prices. For 4Q 2015, prices fell for the 9th consecutive quarters. This is by far the longest continuous fall for the past 17 years.
2016 1st quarter saw sharp uptick in residential property sales for new launches. 500 units were said to be sold, reflecting a 64% q-on-q and 73% y-o-y increase. The uptick were mainly contributed by strong demand for Cairnhill Nine, a residential project on the back of a 99 year leasehold land with total of 268 units launched near Orchard. Other indicators signaled a still depressed property market. Rents for prime sector decreased 1.3% on a quarterly basis while luxury sector rental rates decreased 2.7%. Economic slowdown is the main contributing factor. Singapore's large oil & gas sector is at an industry low point due to excess inventories and low oil prices. Industrial production, trade and retail sales continue to underperform.
Government policy to reduce population growth saw falling demand for private houses. New residential projects continue to be launched via large suburban township development and public housing building schemes. Excess supply over housing demand caused real estate values to drop. Government took public feedback on lacking of infrastructure to heart by slowing down immigration into Singapore due to rapidly increasing number of residents. Government increased public funding for new MRT lines construction, healthcare centers and public welfare projects. 2017 will be most projects reached their completion states. Government policy for relaxing immigration will see a rise in population, thus dirving up house prices.
Property market is dependent on economic growth rate. For 2016, economic growth is expected to fall within 1% to 3% only. Finance Minister, Mr. SweeKiatHeng announced that government would spend 7.3% more (totaling $73 billion). Fund allocation increase for public infrastructure spending will spur growth.
China slowdown has severely affected global growth. The electronics manufacturing in Singapore is feeling the heat and slowing demand. Government will provide assistance for businesses to brace for tough times. Income tax rebate for corporations increase 50% from 30% of tax to be paid, with a max cap amounting to S$20,000 every year in 2016 as well as 2017. Marine sector and other industry in worse conditions were given assistance in the form of foreign labor levy increment deferment for work permit holders. NUS and REDAS conducted a Real Estate survey that shows 90.6% view global slowdowns as biggest risk affecting Singapore's property market. The index for current as well as future sentiment stands at only 3.5, between 0 and 10. Slowdown is the current trend in property markets.
About 64% felt that there will be further liquidity and finance tightening. Job retrenchment will pull down the markets. Real estate values may see a recovery when government withdraws its property stabilization mechanism and policies. The Finance minister clarified that current level and price conditions do not warrant relaxation of property market tightening measures. It is still too early.

 

Investment in Strata houses

  

residential developments

Ever thought of living in a gated community home? Strata homes offers you with the opportunity to live in a communal home with amenities such as shopping centers, playground , security surveillance all day and night as well as other facilities such as a swimming pools. Strata homes are built independently but all the houses are enclosed in one major perimeter wall.

In the past few years, investment in Strata homes was a challenge to most potential buyers as policies from financial providers were offering zero debt servicing for them. There were loops in sales and resale's of the properties due to the financial status of the target market being a target of not being serviced by banks. This further impacted heavily on the price of tag of the homes between 2013 and 2015 where prices dropped by more than 10%.
All is not lost, as the industry is stepping on its feet again. The comeback of new condominium projects is a sign that there are viable prospects in the property. This is in line with informing the potential home owners to invest in this sector that has its niche not exploited to the maximum.
Certainly, landed homes give any potential home owner the value of their money when taking into consideration the aspect of price performance. From a recent research, landed homes did outdo the non-landed homes as far as price performance is considered. The price index of the property has registered an annual growth of over 4.8%.
Practically, resale of landed homes earns more than the non-landed homes. From 2005, the price for reselling a Strata home per square feet was $356 and had doubled to $716 per square feet in the year 2015. Figuratively, this is an indicator of an annual gain of over $7.2. Over the same period, the non-landed homes price per square feet had risen to $628.
Buyers should however , be cautious of the fact that the probability of gain in value of a Strata home will depend on the time of buying as well as the price that was paid. The above evaluation is for helping any buyer who is torn between investing in either landed or non-landed homes.
It is also important to note that all property listing do not necessarily reflect competitiveness in pricing of homes. This will help prevent the buyers from overpaying for home units as resale of the properties is subject to a factor of time.
More apartment projects have included landed homes in their units since the year 2011. The market has on the other been reflecting negative results as the homes have not yet been resold with the current resale market, there not easy to evaluate performance of their prices. This has led the evaluators to using anecdotal substantiation to evaluate the price performance.
The price gain over a period of time for Strata homes is higher compared to the non-landed condo units. As earlier indicated, it is a subject of timing and pricing while buying and selling. Giving examples, in Ridgewood, a unit bought in 2005 at $469 per square feet fetched $1,209 in 2015, indicating a 158% price gain. In another freehold establishment in Sandalwood, their reflection of price gain was 79% over the same period. This indicates that the landed homes offered more value for money.
The market view these landed homes as properties that are worth having for keep. Paying a price that is competitive for properties is call to the potential home buyers to conduct an in-depth research and due diligence of the property. Comparing with other locations will be crucial in making of such decisions. There are limited landed homes in the market and therefore wise to check on the best. From about 258,098 private homes and condo units, there were about 72,205 landed homes.
With regards to Singapore's fundamentals' of the economy, this scarcity is meant to safeguard the capital appreciation of the landed homes in the long term. To put this into perspective, there are around 1582 landed property that will be completed in five years' time. That is a representation of about 3% of the upcoming 57597 private homes. 56,015 non landed homes are also under construction.

 

  
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