$100k-plus cash premiums offered for Tampines flat
Following our breaking story on the asking price of $900,000 for an executive apartment in Pasir Ris, PropertyGuru received an exclusive tip-off from a property agent representing Knight Frank.
The agent, who only wants to be identified as Ravin, said he sold an executive mansionette flat at Block 151 Tampines Street 12 in March this year for $772,500.
According to the valuation report, the flat had a market value of $625,000 in December last year.
It was sold above valuation at $147,500 in March this year. "We were marketing this property over two Sundays and had about 50 plus buyers come for the viewing. Almost half were able to offer COV of more than $100,000," said Ravin.
According to Ravin, the profiles of the potential buyers were Singaporeans in their late 30s to late 50s.
About five were able to offer a COV of more than $125,000.
"These buyers had the cash as most had sold off their landed property, private apartments, or HDB flats with good profits. Most were business owners," said Ravin.
Despite the high COV the mansionette achieved, it will soon be overshadowed by the executive apartment in Pasir Ris should it be able to command the asking price of $900,000, which had shot up to $918,000 after the story broke.
Taking recent transactions as a benchmark valuation price in Pasir Ris, executive apartments in the area are about $600,000.
The new asking price of $918,000 will translate to a record COV of $318,000.
COVs unlikely to go down
Despite the cooling measures, experts say COVs are unlikely to go down.
"The average COV now is about $30,000 to about $40,000 (or) to $50,000 in better and prime locations. I believe that's because of the demand in the market, which comes from newlyweds as well as new PRs and new immigrants coming to Singapore. Although there's a lot of BTO coming up, COV unfortunately will still be going up in the near future," Mark Teo, senior group division director at ERA was reported as saying to Channel NewsAsia.
Others say the new Build-to-Order announcement will ease pressure from the resale market.
"COV prices are bottoming out at around $21,000 and many first-time buyers will still be priced out of the resale market for this reason. Hence, they will definitely find great relief in this bumper crop of BTO flats," said Adam Tan, PropNex corporate communications manager.
New BTO flats eases pressure from resale market
The new HDB flats wil comprise seven BTO projects spread across five estates, namely Sengkang, Tampines, Jurong West, Bukit Panjang and Yishun.
Most of the flats on offer are four and five-room units priced at $217,000 and $274,000 respectively.
According to HDB, it is on track to deliver 25,000 BTO flats in 2011.
The supply of new flats is expected to ease pressure from the resale market which could see their prices falling in the next six months.
This is partly due to economists' recent revision of weaker economic growth in the second quarter and a 25 percent drop in private property transactions in June.
The Resale Price Index (RPI) was 179.9 points in the second quarter, an increase of 2.9 percent over the first quarter.
Priciest flat in Pasir Ris goes on sale for S$900000
Following Sim Lian Group’s highly controversial Design, Build and Sell Scheme (DBSS) project in Tampines, the Housing and Development Board (HDB) is once again under fire after an eye-popping listing was posted on PropertyGuru.
The listing shows a 1,528 sq ft HDB executive flat in Block 780, Pasir Ris Street 71, with a selling price of S$900,000.
The unit’s asking price is higher than the average selling price in the area, considering that it is a public housing project situated in a non-prime area and has no facilities.
It is also not within walking distance to White Sands mall or Pasir Ris MRT station.
Roza Sure Bagus, Managing Director of Sure Bagus (Asia) Pte Ltd, said, “The asking price of S$900,000 is definitely way beyond the market price. It is certainly a one-off case which if the agent is able to get, it will be a record price for Pasir Ris.”
Roza sold a flat in Pasir Ris recently for S$696,000, which is S$96,000 above valuation.
“The S$96,000 (in) above valuation is still okay, provided the house has a good view, high floor and good interior. Nevertheless, if they are buying at S$96,000 above valuation, the buyer’s taste in the décor may not be the same. They may renovate everything.”
Caveat data reveals that the average psf pricing of similar properties sold in the area this year is between S$400 psf and S$500 psf.
The asking price for the executive flat translates to S$589.01 psf, which is well above the market price.
However, Roza believes there might still be a willing buyer.
“For a person who buys such a flat, he might buy it for sentimental value. Perhaps, it has a breathtaking view which he may not be able to get elsewhere.”
“The buyers are likely to be from the private property market who have already sold their properties or who were en bloc owners who made a huge profit. It is unlikely they will take any loan. They would buy this unit in cash, full settlement,” said Roza.
By Andrew Loh | SingaporeScene – Sun, Jul 17, 2011
It doesn't hit home until you're standing there, eyes fixed on the old man of 87-years old. He is no longer cognisant of his surroundings, I am told. His ability to register familiar faces and places is no longer as keen as before. He can barely recognise his own son who is standing beside me at the side of his bed on the day we paid him a visit.
First a boat-builder — during the Japanese occupation — and later a plumber, his hands were the only means by which he made a living and raised a family. Now, with children all grown up with families of their own, he is bedridden, immobile and has to be cared for in a nursing home. Alzheimer's has set in, along with Parkinson's and coronary heart problems.
His son and daughters, in their 30s and 40s, try their best to provide the care he needs. They had him at home in the beginning but as his needs grew, they had no choice but to put him in a nursing home. It was no longer viable or practical for the siblings to provide the special care he required.
The costs of caring for the elderly
So in 2007, they decided to seek the services of a nursing home.
Several months ago, they were told that their father had had a fall in the home. On further probing they realised that the home had not been totally truthful about how this had happened. They were initially told that the incident took place at about 6 or 7pm. The family was informed at 8pm. However, they later discovered that it had actually happened at 2pm. They were upset that it took the home 6 hours to inform them.
In the meantime, the family was having problems paying for their father's stay in the home. It came to more than S$2,000 a month. Further enquiries with other homes revealed that they were all fully booked. In any case, they were not much cheaper either. In addition, the siblings too had to provide care for their mother who is wheelchair-bound and suffers from various ailments as well. The family was at its wits' end.
They finally had to consider the one thing they never thought they would have to — to place their father in a nursing home abroad as it would relieve the financial burden in caring for both parents.
After a search of the Internet for nursing homes in Johor Baru (JB) in Malaysia, they shortlisted several and finally decided on one. The siblings paid a visit to the home earlier this year and made the decision to place their father there.
It would cut their financial obligations by some 60 percent, not an insignificant amount for the siblings who aren't financially well-off.
Children have to make a hard choice
"No one wants to have their father in a nursing home abroad," the son tells me, his voice quivering. "But we have no choice. The costs in Singapore are just too much for us."
The consolation he and his sisters take from this is that the home is set in a quiet neighbourhood, in landed properties which are converted to homes, giving a certain familial warmth to the elderly residents. It is located about 40 minutes by taxi from central JB. The staff there too are friendly and compassionate.
When the son enquired about making bank transfers so that payments could be made on time, the person in charge, Ms Suraya (not her real name), of the home repeatedly tells him not to worry. "It doesn't mean that you have to pay on the date we agreed on. It is okay if you are one or two weeks late. It is okay," she tells him. Such compassion gives the family some peace of mind.
We were told that in recent months, more Singaporeans have made enquiries with the home. "The main reason is the cost," Ms Suraya says. "But also the recent case of abuse in a nursing home in Singapore has raised concerns among Singaporeans." She was referring to the Nightingale nursing home at Braddell Road where the staff were discovered mistreating a resident there. The JB home currently has 20 Singaporean residents. Demand has been so strong that it is planning to open a new center in the coming months.
As we took our leave of the home, another elderly resident waves at us. "Young people like you, good," he said, pointing his finger at us. "Old people like us, no good anymore." It was something he keeps repeating during the next few minutes we conversed with him.
On the next bed beside his was a Malaysian, who is no older than 55. "I am Malaysian but I had been working many years in Singapore," he said. "My children all were born in Singapore and are still there." He recently had an accident which broke several of his hip bones. When we asked why he was there and not with his children in Singapore, he said they could not afford the cost of putting him in a nursing home in Singapore.
The government should help ease the burden
As we left them and the home, I wonder how many Singaporeans — after having served and contributed to the country — would end up in homes such as this one abroad simply because they would not be able to afford to stay in nursing homes in their own country.
It is just not right that our elderly, in what should be their golden years, are subjected to this indignity, to be cast aside or forced out of the land they were born in, grew up in and worked for and contributed to, through no fault of their own or their families' — with the prospect of returning home only when they have breathed their last.
With almost a million Singaporeans projected to be above 65-years old in 2030, it is incumbent upon the government to seriously look into this matter and not let our elderly be subject to such unconscionable indignity when they are no longer "economically active."
There is a responsibility for a government to care for those who no longer can, and to extend help to families who are burdened in such circumstances.
Our elderly should not have to seek shelter in a foreign land.
They are as much a part of us as those who are rich, economically active or young. Our country should not and must not abandon them to another country. It is our responsibility and we must not shirk this.
Egomaniac and full of crap:
Philip Yeo is the biggest egomaniac (full of himself) in Singapore. He does not want to be called a “civil servant” even though he has been in the public sector for decades.
PY was the one who started shaming “bond breakers” (about 70% of Government scholars break their bond) but made sure his own son (also a scholar) got special treatment.He was allowed to “serve” his bond in the US. What a hypocrite!
PY’s business acumen is similar to Ho Ching – almost nil.When he became Chairman of Sembawang Corporation he used the company’s surplus cash to acquire Delifrance from its French owner for over $400m.It turned out a disaster and had to be sold to PAMA for only $70m, a loss of over $300m. Sembcorp also almost went bust and had to be merged into the Singapore Technologies Group. PY was also Chairman of some companies in the Singapore Technology that made large losses. After Ho Ching he must the the second biggest loser of taxpayers’ money.
The only reason PY is still around is because LKY (another egomaniac) likes him. This guy is full of crap.
Philip Yeo: My greatest fear now is that the Government is terrified of the people
The late former US President Thomas Jefferson once said: “When the people are afraid of the government, there is tyranny. When the government is afraid of the people, there is democracy.” However, former EDB Chairman and Special Adviser for Economic Development in the Prime Minister’s Office Philip Yeo is afraid that the PAP regime will become ‘terrified’ of the people after losing a GRC in the recent general election.
In an interview with the state media, Mr Yeo said:
“After the last elections, the ruling People’s Action Party realises that it’s no longer infallible. My greatest fear now is that the Government is terrified of the people. You cannot have a system where the people are pampered.”
He added that the repressive regime has run Singapore ‘very rationally’ for the last 45 years though it has imposed draconian laws along the way to suppress the civil rights of Singaporeans and to entrench its political hegemony:
‘The intentions have always been good but we forget that some people were hurt along the way. We need to work with our heads and our hearts. The key is not to swing totally the other way.’
Mr Yeo also reiterate his earlier stance to name and shame Singaporean bond-breakers:
“That’s why I say bond-breakers squander the people’s money. You break your bond, you break the future of someone else who was on the reserve list.”
However he was quick to give scholarships to foreigners and admit readily that a ‘good percentage’ of his EDB and A*Star scholars and staff were from Malaysia, China, India and Vietnam.
“Many were given secondary scholarships at age 15. They grew up here. Many became new Singaporeans. They have become indistinguishable from his Singaporean scholars.”
The number of foreign scholars who break their bonds and leave Singapore for good yearly is not revealed to this very day.
Wiki-Leak on Philip Yeo:
From Uncyclopedia, the content-free encyclopedia.
Philip Yeo, or Mr. Invincible, has a vision for the future of Singapore that is highly reliant upon gratuitous amounts of Cheez-Whiz and the world's largest traffic pylon.
Philip Yeo (born 1950) is one of the first Singaporean superhumans as well as the current chairman of the A*Star programme, whose aim is to create an elite force of super soldiers for the purposes of homeland security. Although he currently goes by the moniker of "Mr. Invincible", he is affectionally known to his critics as being an "A*Star douchebag".
Yeo was born in Singapore in 1950 to a poor family. The oldest of thirty-six children and the only boy among his siblings, he was constantly a victim of bullying and domination by his significantly stronger and more intelligent sisters. Due to his family's lack of funds, Yeo was forced to study the basics by himself, discovering in himself a love of the pseudosciences, especially phrenology.
In 1968, Philip Yeo enlisted under the newly enacted National Slavery act, approved by former Uber Minister Lee Kwan Yew just two years prior to Yeo's entry. Yeo proved to be a strong, capable, diligent, and intelligent soldier, and was watched carefully by government officials for this very reason.
Philip Yeo NEVER enlist under the National Slavery Act.
Philip Yeo, as Captain Singapore, goes into Super Saiyan mode in order to defeat Dr. Madhatter.
Unknown to Yeo and, in fact, to most Singaporeans, Lee Kuan Yew had been working on a secret project that was known only as A*Star. In 1963, Lee jumpstarted the A*Star programme with the intent of creating super soldiers for the sake of defending Singapore in case of any attacks from enemies that sought to end the island city's pitiable existence. Impressed by the Swiss guard of the Vatican City, Lee sought to create a similar programme through selecting the most "genetically superior" Singaporeans and enhancing them through artificial means. Although Lee has no access to Catholic-related Power Ups, he believed in the scientific prowess of his wise men and believed he could create a strong defensive force of just a few superpowered soldiers.
However, five years later, the A*Star programme had made frustratingly little progress, and the bizarre deaths of several high-profile volunteers made the programme increasingly unpopular. Although disappointed, Lee Kwan Yew did not close the programme completely, but introduced National Slavery instead as a means of pumping up Singapore's hypothetical military might.
Keen to give the programme one final shot, several of Lee's top aides recommended that Philip Yeo be drafted into the A*Star programme, confident that his DNA was harmonic with the enhancements that had failed on every previous volunteer. Yeo, eager to serve his country and lured with the added promise of a bounty of scholarship funds, agreed to undergo testing, which was successful. His physiology enhanced far beyond that of normal humans, Yeo was given the codename Captain Singapore, and was charged with leading the Singapore Armed Forces both strategically and as a rallying icon.
From 1969 to 1998, Captain Singapore fought dozens of foreign superhumans including The Sultan and even the dreaded Captain Cambodia, who, at one point, was considered to be one of the strongest Asian superhumans in existence. Eventually, Philip Yeo gave up the title of Captain Singapore to other aspiring young products of the A*Star programme, choosing the name "Mr. Invincible" instead.
In 1999, Philip Yeo took over the leadership of the A*Star programme, promising an army of 300 Singaporean superhumans by 2020. The A*Star programme has since been successful in churning out Singaporean superhumans, including Mr. Kiasu, Whizz-Kid, Ah Tan the Destroyer, and Smogger. In 2002, the United States and Singapore jointly worked on a superhuman known to the world as Captain Obvious. Philip Yeo and A*Star were also partly responsible for the construction of Lee Hsien Loong.
Edit Controversy sectionEdit Controversy
For the religious among us who choose to believe lies, the self-proclaimed experts at Wikipedia have an article about Philip Yeo.
Since Philip Yeo's ascension as chairman of A*Star, murmurs of what actually goes on behind the closed doors of the genetic enhancement programme frequently pop up from time to time. Most famously, A*Star was accused by the Far Eastern Economic Review of producing foot soldiers for the League of Evil, a claim that Yeo has personally denied multiple times. He was once questioned for calling his own slaves "wimps", and also ordered a few bloggers shot to silence those who questioned him.
Subjects for the A*Star programme are frequently taken from servicemen partaking in National Slavery, often against their will and without the knowledge of their families. Although Yeo asserts that all test subjects are "willing volunteers", the ratio of successes to failures is still much too high for the public to feel comfortable with.
Recently, Johns Hopkins University cut funding to the A*Star programme to the tune of several million dollars, citing creative disagreements and referring to Philip Yeo as a "fairy". Philip Yeo responded by referring to the American superhuman team, the Revengers, as "a group of overweight assholes with terrible style".
Philip Yeo's physiology has been artificially enhanced through the A*Star programme. A product of breakthrough bioengineering, Yeo is a master of martial arts and possesses superhuman strength, invulnerability, and the powers of flight. In Super Saiyan mode, Yeo is able to generate radioactive fields and cause explosions by manipulating matter at the sub-atomic level. Additionally, Yeo has genius-level intellect and is a master tactician. A little know fact, his 'trouser snake' is so stong and powerful it is reported that he fought chuck norris' 'trouser snake' and only just lost shooting 'venum' 300m compared to chuck norris' 500m
Yet another Tan wants to be the President. Now we have 4 Tan's who want to vie for just one President post. Certainly making things very interesting for this coming Presidential election. Once thought to be useless and time-wasting, now the President position is going to become a symbol of the opposition making dramatic in-road into PAP's financial stronghold?
Tan Kin Lian on Tan Jee Say's Presidential bid
I like to wish Tan Jee Say all the best in getting the Certificate of Eligibility and in contesting the Presidential Election. With more candidates entering the contest, the voters of Singapore will have a wider choice of selecting the next President of Singapore. A larger pool of candidates should help to make more citizens aware of the importance of this position and educate more people on the need to make a wise choice.
I will not change my campaign, as set out in my campaign website: www.tkl2011.com.
I offer to the voters to serve the country in the following areas:
-Be a voice of the people to carry their views, concerns and aspirations to the Government.
-Be independent of the PAP government but to work with the government to find solutions that are best for the people.
-Apply my knowledge and expertise to safeguard their CPF savings and the reserves of Singapore.
I also pledge to donate at least half of the President's salary towards charity and other causes.
TiTANic Presidential Elections ahead?
SINGAPORE: Another candidate has stepped forward ahead of the Presidential Election, which is due by August 31.
Tan Jee Say, who was last in the public eye during this year's General Election for the opposition SDP, picked up the Certificate of Eligibility forms at the Elections Department on Friday morning.
He said on his blog that he wants to be "the conscience of the nation".
"I am applying for a Certificate of Eligibility to contest the election of the
President of Singapore under the special clause that allows a person to do so," he said in a statement released before appearing at the Elections Department.
"The specific position I held that satisfies the condition (special clause), is that of chief executive officer with the title of regional managing director of John Govett (Asia) Private Limited and its successor company AIB Govett (Asia) Private Limited," the statment went on to add.
As for Dr Tan Cheng Bock who was one of the first to signal his intention to run for the post of elected president, he said in a Friday entry on Facebook, "I will be submitting my COE application next week with friends and supporters."
Netizens are now buzzing over the four Presidential hopefuls who share the surname Tan.
In addition to Dr Tan Cheng Bock and Mr Tan Jee Say, there's also former deputy prime minister Dr Tony Tan and former CEO of NTUC Income Mr Tan Kin Lian, both of whom submitted their applications for a Certificate of Eligibility on July 7.
Apart from the four, former JTC Corporation group chief financial officer Andrew Kuan who was disqualified in 2005 from running for the presidency, told MediaCorp recently that he is keen to throw his hat into the ring again.
70-year-old Mr Ooi Boon Ewe, who failed in his bid to contest the recent General Election as an independent candidate, has also collected forms for the Presidential Election.
In early June, 50-year-old Mohamed Raffi Bashir Ahmed also turned up at the Elections Department to collect forms to contest the Presidential Election.
“I have not been asked by any party to come out and contest” – Presidential hopeful Tan Jee Say
Posted by theonlinecitizen
Mr Tan showed up at the Elections Department at 10.15am with his wife Patricia
Even though Mr Tan Jee Say has contested Holland-Bukit Timah GRC under the Singapore Democratic Party (SDP) banner in the recent General Elections, he is confident that the public will not see him as partisan if he were elected President as he had only been with the SDP for 3 months.
On the other hand, the three other presidential hopefuls – Dr Tony Tan, Dr Tan Cheng Bock and Tan Kin Lian had been with the People’s Action Party for 10 to 20 years.
“The PAP DNA is still very strong in them,” the former principal private secretary to then DPM Goh Chok Tong told the press outside the Elections Department when he went to collect the forms for the presidential eligibility certificate on Friday morning.
In his press release, Mr Tan wrote that many Singaporeans want a non-PAP President whose independence of the PAP is clear, obvious and cannot be in doubt: “Only such a person can have the moral authority to fulfill the mission of Elected President which is to provide checks and balances on the PAP Government.”
Mr Tan formally resigned from the SDP this morning. He told the press that Sec Gen Dr Chee Soon Juan was ‘supportive’ of his decision but clarified that he had not been asked by any party to come out and contest the Presidential Elections.
“I just made the decision in the quietness of my bedroom in my house, and with my wife of course, “ he said. Mr Tan further revealed that he only arrived at the decision on Thursday night.
Among the handful of supporters who turned up, two – Ms Michelle Lee and Mr Fazlur Yusof were members of SDP. Another, Mr Bentley Tan was the Master of Ceremony for the SDP rallies during the General Elections.
President the ‘moral conscience of the nation’
On what he would do as President if elected, Mr Tan said that he would want to know how much there are in the reserves and if they had been put to good use, and if more money is needed to invest in the people, to use the second key to open up the reserves.
“I have a national regeneration plan that required 60 billion dollars – 12 billion every year for five years – so if they (the government) wants to invest in it, why not?”
He also stressed that he won’t make the Presidency is not another centre of power, instead, it will be the ‘moral conscience of the nation’. If elected, he will work with the government because he has to honor the wishes of the people who elected the government, but at the same time, the government cannot be right all the time. Mr Tan mentioned the building of the two casinos as an example where the government got it wrong.
“Why do you compromise your morals just to create jobs and then cry over it?” he asked rhetorically.
As such, even though it is up to the government to decide on which policies to implement at the end of the day, the President can nonetheless speak up on those issues.
“They will be moral pressure,” he emphasized.
President must act independently: Dr Tony Tan
Singapore's president has to be above politics, needs to work with all government parties and must also act independently, said presidential hopeful Dr Tony Tan.
Dr Tan, 71, was addressing questions on his affiliation with the People's Action Party (PAP) and whether it would help or hurt his chances in the upcoming Presidential Election, which will be held before August 31.
Earlier today, former civil servant and opposition politician Tan Jee Say showed his interest in running for President and said in a press statement that he believed many Singaporeans wanted "a non-PAP President whose independence of the PAP is clear, obvious and cannot be in doubt".
Dr Tan, who was a member of PAP since 1979 before retiring from politics in 2006, reiterated that "whoever he is, (the President) has a distinct role as set out in the Constitution".
"I think we have to be quite clear about this. He is not a separate power centre in Singapore; there can only be one - the government," said Dr Tan to reporters while speaking at the Singapore Chinese Chamber of Commerce and Industry Distinguished Speakers Lecture Series held at Ritz Carlton Hotel today.
He continued to explain that the President has very limited executive authority, but has an important role in representing Singapore overseas, as "people judge the country by the calibre of the President".
"You need somebody in the Presidency who is steady, experienced, who knows the issues and limits of what the President can do and most importantly, he has to be fair and neutral.
"He has to be above politics and needs to work with all government parties, civic and social organisations, and he cannot take a partisan view," reiterated the former chairman of the Government of Singapore Investment Corporation, or GIC.
Dr Tan concluded that the President must act independently, make up his own mind and exercise authority accordingly.
Recent GE a 'win-win-win result'
Dr Tan also gave his personal opinion on the recent General Election that was held in May, and described it as giving rise to a 'win-win-win result'.
He gave three reasons as to why he called it a triple win situation.
First, it was a strong mandate for the PAP to frame policies and continue Singapore's progress and improve the life of Singaporeans.
Second, the oppposition now has a base to build on, further their credibility and possibly gain more votes in the next election, and finally, it demonstrated another stage of the country's political development.
Dr Tan explained: "The situation where you have one overwhelming party which has almost all the seats, with little effective opposition - and I stress this is my personal view - is a matter of the past.
"There could be a new normal in Singapore politics now, which is a strong party in government that frames policies and implements them, and is matched by an effective opposition in Parliament, which will debate these policies, with different perspectives and views, and suggest alternatives.
"Through the process of debate, discussion and challege, we will end up with better results and progress for Singapore," said Dr Tan.
IT'S age - the main reason President S.R. Nathan is not seeking a third term. Two days before his 87th birthday, President Nathan announced that he would step down when his second term runs out on Aug 31.
"At this stage of my life, I do not believe that I can undertake indefinitely the heavy responsibilities and physical demands of the position of Head of State," he said in a statement on July 1.
His 12 years in office make him the longest-serving President in Singapore's history. Those years cap a 55-year career in public service, which saw him take on roles such as ambassador to the United States and permanent secretary of the Foreign Affairs Ministry. He also served as director of Singapore's external intelligence arm, the Security and Intelligence Division of the Defence Ministry.
In his statement, the President acknowledged both the Singaporeans who had criticised him and those who had shown him "affection and kindness".
During his years in office, he had given his best in the performance of all his duties, whether constitutional, ceremonial or community-related, he said.
Observers have paid tribute to the President for his contributions in diplomacy and charity work, and for his personal touch and closeness to the people.
Minister for the Environment and Water Resources Vivian Balakrishnan said: "He always had a special place in his heart for people who are vulnerable, for children, for the disabled."
A bunch of relatives and lackies
PAP is one of most corrupt party in the world. One sees many elected officers of PAP as well as top civil servant are relative of one another.
Family of Shylock
Kwa Siew Tee is Lee Kuan Yew's father-in-law. Lee Kuan Yew's mother-in-law, Wee Yew Neo and Bankster Tan Chin Tuan 's wife, Helen Wee are sisters. So Tan Chin Tuan is LKY's uncle-in-law. Tony Tan is Tan Chin Tuan's nephew.
Both Kwa Siew Tee and Tan Chin Tuan were top banksters of OCBC. The financialization of Singapore's economy whereby banksters parasite feed on the productive citizen can easily be understood -- if one is aware how deeply Lee Kuan Yew is connected with shylock.
Tony Tan the best actor
In public, Tony Tan shows himself as a humble and wise man. Unfortunately nothing is further from truth. Nothing good can be expected from scion of bankster. While Singaporean focus on Ho Ching and her Temasek fiasco, few people knew that GIC under the charge of Tony Tan has lost its pants in 2008 crisis.
In short, Tony Tan has blown up Singapore's pension aka the corrupt CPF. He is responsible for condemning Singaporean to work till death because CPF is effectively being wipe out in real terms. (PAP is going to stealth default CPF)
The patriarch: Kwa Geok Choo's father
Year 1932, GROUP PHOTOGRAPH OF FOUNDING OF OCBC SHOWING:
FRONT ROW: KHOO SOO HONG (SECOND FROM LEFT), TAN CHIN TUAN (FOURTH FROM LEFT), YEO THIAN SIEW (FIFTH FROM LEFT), TAN ENG KIAM (SIXTH FROM LEFT), ONG PIAH TENG (SEVENTH FROM LEFT).
BACK ROW: YAP PENG GEK (LEFT), KWA SIEW TEE (THIRD FROM LEFT), CHEW HOCK LEONG (SIXTH LEFT) AND MR TEO (RIGHT)
Powerful and Influencial Figure
Little known Kwa Siew Tee (柯守智), Kwa Geok Choo's (LKY wife) father was immensely rich and one of the most powerful man in Singapore. He had been appointed the Municipal Commissioner in 1947, and Public Service Commissioner in 1953. Both are extremely powerful position and in theory, held the power to appoint and dismiss top civil servants.
Kwa was a senior bankster in OCBC doing things related to forex trading. Banksters do not produce anything, they simply feed on productive host economy. Wonder PAP's perpetual policy to increase asset price screwing the working class, is due to all these bankster relative.
Inter-marriage between powerful families
Kwa Siew Tee's wife Wee Yew Neo, is daughter of Wee Theam Seng, a senior OCBC Bankster.
Kwa Siew Tee's brother-in-law is Tan Chin Tuan, who married Helen Wee, another daughter of Wee Theam Seng.
[BBC definition: banker+gangster = bankster]
OCBC influences on Singapore are comparable to Goldman Sachs on USA. A large disproportional number of powerful office holders are connected to OCBC. To name a few below.
Lee Kuan Yew PM
- father-in-law OCBC senior bankster
Yong Pung How Chief Justice
- 1976-1982 work in OCBC
Teo Chee Hean Deputy PM
- father Teo Cheng Guan OCBC chairman 1989-1991
Tony Tan Deputy PM
- family is one of OCBC founders
2nd Generation Kwa, many illustrious figures
2 out of 3 survivng sons of Kwa Siew Tee hold perm sec position and many of important appointments. One of the son-in-law was made minister in LKY's cabinet. The 3rd generation are less prominent in public office but do not under-estimate their hidden wealth and influences.
Kwa Soon Hock 柯顺福
Kwa Soon Lock 柯顺禄
-Killed by Japanese
- no info
Kwa Soon Chuan 柯顺全
-Perm Sec and many other top appointments
Kwa Soon Bee 柯顺美
-Perm Sec and many other top appointments
Kwa Geok Neo 柯玉娘
- no info (found almost no data, need help to confirm the existence of this person)
Kwa Geok Lan 柯玉兰
- married Yong Nyuk Lin 杨玉麟 who later became minister of various ministries
Kwa Geok Choo 柯玉芝
- married LKY, PM of Singapore
Kwa Geok Lian 柯玉莲
- married Earnest Lau, a school principal
Kwa Geok Eng 柯玉英
- no info
Kwa's family and LKY road to power
Without the Kwa family network of powerful families, it is questionable whether LKY can emerge as the leader of PAP in 1950s given then, there are many other extremely capable and charismatic leaders in the party. The nexus of Kwa family probably also helped LKY to win the trust of British, which handed over to him the control of security apparatus. That is the key LKY is able arrest his political opponents.
Acknowledgement: Articles above were copied from http://veritas-lux.blogspot.com/ for ease of referencing.
Documented from CNA forum:
Sim Lian majority owned by Kuik Family - Fact
Diana Kuik is the wife of Ong Ye Kung - Fact
Diana Kuik is the ED of Sim Lian - ?
Who can verify whether is fact or rumour?
Also fact. Go to simlian website look investment relation-> for board of directors-> Kuik Sin leng(aka Diana Kuik):
Btw Sim Lian independence director Asst Prof Sim Loo Lee is a member of HDB Audit Committee. Wow, what kind of independency we expect during contract awarding????
Only says Kuik Sin Leng. It doesn't say Diana Kuik.
Wow this is your first post.
IR Contact: Kuik Sin Leng, Diana
|email@example.com | +65-6303-6200
I gana banned some month ago arguing with pap dogs here lah.
GNN eh, the most obvious something is very wrong is that a director of Sim Lian, Sim Loo Lee can be part of HDB audit committee ??!! As a auditor, Sim will have in procession of all tenders specs, past minimun quotes etc wouldn't he? This will obviously favour Sim Lian during tender for DBSS isn't it?
Even say Mah has great firewall to prevent this auditor seeing tender process it is against civil service standard for a bidder to sit on its highest level comittee who will then can wield great influence on those deciding who to award the bid to isn't it, especially when million of dollars are at stake ?
You think all these LHL don't know ?
Just wonder if PAP dare to ask their MPs to declare their association - family & spouses business.
Btw - Ng Eng Heng is nephew of Far East Organisation - FEO go round snapping sg land; now one of the biggest landlord in sg
Quoted from facebook comment page of toc...(names changed to protect freedom of speech)
"AmyL: VTan, apparently Ong Ye Kung, the Secretary-General of PAP and the highly touted ministerial material in the PAP Aljunied Team, is married to the ED of Sim Lian Mdm Kuik. So the next question is, what made Sim Lian so confident to bid for the site some years ago? Ong Ye Kung was the PPS to PMO in 2002/2004."
73% jump of prices from first DBSS project
In 2005, the Housing and Development Board (HDB) launched the Design, Build and Sell Scheme (DBSS), which allowed the private sector to design, build, and sell HDB flats.
By 2006, it had introduced the first public housing project developed and sold by a private developer. Developed by the Sim Lian Group, The Premiere@Tampines had air-conditioning units installed, floor-to-ceiling wardrobes, and teak parquet flooring. Kitchens had cabinets and Italian hobs, while bathrooms had glass shower screens and fancy shower heads. It was launched in 2009, with the biggest 5-room flat costing $450,000.
Now, fast forward to six years later, and Sim Lian Group is again the developer for the eighth DBSS site, Centrale 8 located in Tampines.
The developer announced the 'indicative prices' of the newest flats last Thursday, causing much uproar, as Singaporeans reacted to what was widely seen as grossly expensive HDB flats. It said then that the biggest 5-room flats for the units in Tampines could cost as much as $880,000.
It has since slashed down the prices by $102,000, with the maximum price for the biggest flats costing $$778,000 instead.
This shows a 73 per cent jump from The Premiere's 2009 price.
We take a look at the other DBSS projects, and how much they cost.
Tin Pei Ling shares views on DBSS saga
Tin Pei Ling, Member of Parliament for Marine Parade -- ST PHOTO: JOYCE FANG
MEMBER of Parliament for Marine Parade Tin Pei Ling shared her thoughts on Facebook on Friday morning about the recent news regarding the Design, Build and Sell Scheme (DBSS) project in Tampines.
The flats at the 708-unit Centrale 8 raised an uproar last week over the $880,000 price tag for its largest units, as the price was nearly that of executive condominiums.
Project developer Sim Lian later said quoted price ranges were only 'indicative', before releasing a 'confirmed price range' for the flats, which showed a $100,000 price drop to $778,000 for the top-end units. Ms Tin posted this note on her Facebook account at 9.50am on Friday, titled 'Short note on housing 3: HDB land - a matter of principle'.
She wrote (as is carried here): 'The recent high profile sale of DBSS flats at Centrale 8 stunned many Singaporeans, including myself. Questions were raised by many members of the public. Some asked why HDB flats built on HDB lands and eventually to be managed by the Town Councils (i.e. like normal HDB flats) should be priced by private developers. I understand and sympathise with these views.
'Allowing private developers who had successfully acquired HDB lands to independently price DBSS units may be in line with 'free market' principles, but it also means HDB losing control over precious lands that could be better utilized for BTO flats or community facilities.
'DBSS was meant to offer an additional housing option to Singaporeans - premium but less expensive than private condominiums. It is right to offer tiered options to address the different aspirations of Singaporeans. But the 'devil is in the details', and what might have been a useful housing option in 2005 may no longer be as suitable today.'
'Some have pointed out that Singaporeans can choose not to purchase over-priced DBSS flats. But I think the issue is one of principle - given the land scarcity in Singapore, HDB land should be reserved for building affordable public housing, and not apartments that HDB has little influence over. As part of MND's overall review of housing policies, perhaps it should either let HDB take back the right to price DBSS units, or include a clause to compel price negotiations between HDB and the private developers.'
ANOTHER PROBLEM WITH DBSS FLAT - NOT THERE NOR HERE
Letter from Michele Goh
04:47 AM Jun 24, 2011
I PURCHASED a Design, Build and Sell Scheme (DBSS) flat in 2009 despite the high premium compared to a Build-to-Order (BTO) flat, based on the assumption that its management by an established private developer would result in intelligent, functional design and professional workmanship. In addition, the well-finished product would likely require little or no renovation, thus justifying the high price tag.
However when I received my flat keys in March this year, I found out otherwise. While the estate's façade appears condominium-worthy, the workmanship at my flat was worse compared to a BTO flat at Sengkang which costs almost half as much.
Defects were only patched over. Design flaws included insufficient clearance above the safety window grilles to install a roller blind and the lack of a TV point (required for StarHub broadband connectivity) or OpenNet point in the study room.
The showroom on which I based my half-a-million-dollar public housing purchase differed from the actual product in some ways, such as the implied location of TV points and type of tile finishes in the bathrooms. It is interesting to note that all final decisions regarding electrical wiring and finishes are at the sole discretion of the architect, according to a clause in the sales brochure.
Given that DBSS projects have been and presumably will continue to be well-received for their perceived premium quality in design and workmanship, I am concerned for current and future buyers.
The Consumers Association of Singapore (CASE) protects consumers of retail products. Who protects consumers of products from our public housing agency, in a project managed by a private developer?
DBSS projects are sought after by young couples buying their first home due to their location in mature estates where their parents live. The HDB currently does not inspect DBSS flats and flat owners are told to seek redress with the developers instead.
This clearly disadvantages first-timers who are likely to be less savvy in surveying the quality and workmanship of a new flat.
The recent prices sought by private developers for DBSS flats clearly highlights the disparate goals of private developers and Singapore's public housing authority in this scheme. I urge the HDB to revisit its aim to "ensure that cost-effectiveness and quality standards are maintained and continually improved upon" in public housing towns.
Since DBSS flats are indeed HDB flats, I urge the HDB to exercise its authority in imposing strict regulations on pricing and quality of flats upon private developers seeking involvement in DBSS projects, so as to preserve its founding aims.
I also hope that, while the HDB and private developers iron out regulations to make the scheme fairer for future buyers, residents of current projects will not be left to fend for themselves.
Had I known all this earlier, I might not have decided to pay premium prices for a flat that turned out to be not-so-premium.
Sim Lian tops bid for Tampiness DBSS site
HDB received a total of five bids yesterday for the 227,460 sqft DBSS site in Tampines at the junction of Tampines Ave 5 and Tampines Central 8, right beside Tampines Premier.
Sim Lian came out tops in their bid for the site at the junction of Tampines Ave 10 and Ave 1 in March, and have done it again.
The contenders for the DBSS site are:
Sim Lian Pte Ltd- $178 million
Qingdao Construction (Singapore) - $145 million
Hoi Hup Realty Pte Ltd And Sunway Developments Pte Ltd - $139 million
Realty Consortium Pte. Ltd. -$137 million
Ho Lee Group Pte Ltd- $110 million
The obvious winner here should be Sim Lian, yes? HDB will announce the final tender results within the next two weeks.