Straits Times: Campus No. 3 for Global Indian International School

With Balestier campus, Global Indian International School’s student intake now tops 4,000
By Jane Ng & Nilanjana Sengupta
IT STARTED with 48 students in 2002. Six years on, the Global Indian International School (GIIS) has more than 4,000 students at three campuses.
And although there are about 2,000 vacancies at its campuses in Balestier, Queenstown and East [...]

Business Times: Sim Lian net profit up a third to S$44m

PROPERTY and construction group Sim Lian has posted a 33 per cent jump in fiscal full-year net profit to S$44.1 million despite rising raw materials costs, thanks to higher revenue, a reversed impairment loss and a divestment.
Sim Lian also plans to launch three projects in fiscal 2009 at Surrey Road, Keng Lee Road and its [...]

Business Times: Developers weigh odds for launches after Ghost Month

Some may want to test market now rather than risk deterioration in sentiment
By KALPANA RASHIWALA
(SINGAPORE) Some developers have been quietly oiling their launch machinery in the past few weeks as they get ready for previews and launches, especially with the Hungry Ghosts Month ending this Saturday.
With the property outlook expected to worsen before it gets [...]

Straits Times: Property shares lose shine

BULLS AND BEARS
Developers not exposed to mortgage crisis in US but investors still wary
By Goh Eng Yeow, Markets Correspondent
THERE is no link between the deepening mortgage crisis in the United States and Singapore property counters, but try telling that to investors.
Real estate counters have taken a beating recently despite enjoying one of the biggest run-ups [...]

Business Times: New Dubai registration law to curb speculation

Sales of unfinished properties must be registered before they can be resold
(DUBAI) Dubai has issued a new law to regulate the sale of real estate still under construction in an effort to curb speculation that has sent property prices in the Gulf Arab emirate skyrocketing, an official said on Tuesday.
Under the law issued this week, [...]

Straits Times: Laguna Park Condo’s MC chairman nabbed

Arrest followed ‘glued doors’ attack at two units this week; he’s now out on police bail
By Chong Chee Kin
THE chairman of the management committee at Laguna Park, recently hit by a spate of vandalism, was arrested this week on suspicion of gluing shut two residents’ apartment doors.
No charges were brought against Mr Lee Kok Leong, [...]

Straits Times: More than 100 US banks in trouble

Number of ailing banks shoots up to five-year high, with no relief in sight
WASHINGTON: The number of troubled United States banks shot up 30 per cent in just three months to 117, the highest level in five years. A top regulator also warned that conditions will worsen as the housing slump and credit crisis continue [...]

Straits Times: Condo site near Circle Line station up for sale

A LAND plot for a condominium has been made available for sale in Serangoon Avenue 3, next to the Lorong Chuan MRT Station on the new Circle Line.
Despite lacklustre activity in the private housing market, property consultants expect this 1.39ha site to be favourably received, given its choice location.
‘Although the current cautious mood and slow [...]

Business Times: Fed hints at interest rate hike to slow inflation

(NEW YORK) Federal Reserve policymakers expect to eventually raise their benchmark interest rate in an effort to slow inflation, but they have not agreed to a timetable for the move, according to minutes of the Fed’s last meeting in early August.
‘Members generally anticipated that the next policy move would likely be a tightening’ of interest [...]

Business Times: Chinese banks told to be careful on property loans

(BEIJING) China’s banking regulator and central bank yesterday ordered commercial lenders to be more careful when lending to real estate developers.
In an joint statement published on the People’s Bank of China’s website (www.pbc.gov.cn), they said that banks should not lend any money to property developers for land purchases.
The statement also encouraged banks to give preference [...]

Straits Times: KOP buys stake in European hotel chain

SINGAPORE-BASED real-estate firm KOP Capital is paying US$250 million (S$354 million) for a 50 per cent stake in Stein Group International, a European luxury boutique hotel group.
KOP Capital said it is also prepared to invest another US$250 million to US$300 million to acquire more hotels in Asia – as part of its goal of expanding [...]

Business Times: Measures put in place for better use of public sector office space

YESTERDAY IN PARLIAMENT
Surcharges will be imposed on agencies in breach
By OH BOON PING
GOVERNMENT agencies that do not make optimal use of their office space will face penalties such as surcharges and rents, Parliament was told yesterday.
Senior Minister of State for Finance & Transport Lim Hwee Hua said the aim is to encourage better management of [...]

Business Times: Japan regulator looks into BNP Paribas deal

Concern over bond and swap deal disclosure, insider trading, says sources
(TOKYO) Japan’s financial regulator is looking into a deal between French bank BNP Paribas and a collapsed property developer amid criticism over its disclosure and concerns insider trading laws may have been breached, sources at the regulator said.
The deal in question is a 30 billion [...]

Business Times: Saizen Reit’s acquisitions on hold; distribution per unit is 4.67 cents

SAIZEN Reit, which was listed on the Singapore Exchange in November last year, says it will hold out on new acquisitions for the present.
Arnold Ip, chairman of the Reit manager, Japan Residential Assets Manager Ltd (JRAM) said: ‘While there are attractive investment opportunities for Saizen Reit, the manager intends to adopt a cautious approach for [...]

Business Times: Top British home builder reports loss on writedowns

It’s yet to seal loan deal with banks, says Taylor Wimpey
(LONDON) Britain’s most popular house builder, Taylor Wimpey, slumped to a £1.54 billion (S$4 billion) pretax loss on falling property values and merger costs and said it has yet to agree to a crucial loan deal with its banks.
Its shares, which have crumbled over 75 [...]