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Is it a free market or cornered market? Isn’t it good for a consumer to pay cheaper car prices? Why would it raise concerns? See news article

SHANGHAI—LaSalle Investment Management has raised $1 billion this year to invest in real-estate assets in Asia, in the latest sign that investors are making bolder bets in areas that are still enjoying strong growth. LaSalle, a unit of JLL, said that of the $1 billion, $585 million was raised for its fourth Asian opportunity fund, which is targeting industrial real estate in China and commercial property in Japan and Australia. The remaining amount raised is for institutional investors with separate mandates. "Asia has become a lot more appealing," said Mark Gabbay, co-chief executive officer of LaSalle Asia Pacific. "The underlying fundamentals are attractive: Demographics, job growth and liquidity conditions are still good." In the real-estate private-equity world, opportunity funds typically buy challenging properties, not trophy buildings. Managers of the $1 billion that LaSalle raised say they are looking for buildings that aren't completely leased that they can refurbish, boost occupancy and rental rates and then sell to a buyer with less appetite for risk. LaSalle, which manages $50 billion of real-estate assets globally, is looking for shorter-term investment deals in Asia, and hopes to hold these assets for about three years on average. In 2012, for instance, the fund invested 7.8 billion yen ($76.8 million at current exchange rates) in an office building about 20 minutes from the central business district in Osaka. It plans to sell the building to a Japanese real-estate investment trust. Some investors are now willing to take on more risk by allocating more money to such buildings, whose returns can reach as high as 20%. Returns from high-quality buildings with high occupancies tend to be lower, but so is the risk, Mr. Gabbay added. Economic growth in some parts of Asia has been slowing, but its growth rates are still stronger than those in the U.S. and Europe. Beijing on Wednesday is expected to report that gross domestic product growth reached 7.4% in the second quarter, in line with GDP growth in the first quarter, according to a median forecast of 21 economists polled by The Wall Street Journal. The economy of the 18-nation euro bloc grew less than 1% in the first quarter of 2014, and the European Central Bank forecast that GDP growth for the euro-zone economy will reach 1.2% for 2014. Investors in the LaSalle fund include sovereign-wealth funds and pension funds from the U.S., Middle East and Europe. These investors typically avoid risk, but some are getting more adventuresome. "Investors are concerned about their real-estate investments in a persistently low interest-rate environment," said Mr. Gabbay. He also noted that some are questioning if some high-quality buildings in Asia's gateway cities are overvalued. San Diego City Employees' Retirement System, which has committed $50 million to the fund, says this is its first real-estate investment in Asia, and that it is "an attractive area in which to invest." "The fund is pursuing opportunistic real-estate investments in Asia, which is one of the fastest-growing regions," said Christina Di Leva, communications manager at SDCERS, in an email. But opportunistic investors are taking on risks by banking on construction activity. According to data tracker Preqin, average returns from such Asia-focused funds with this opportunistic investment strategy lag behind their peers. Since 1998, the net internal rate of return for such funds averaged 8.1%, compared with 13% for other Asia- focused funds with less-risky investment strategies. Also, distressed properties are harder to find in Asia than in other parts of the world, such as Spain and Italy, that were hard-hit by the financial crisis. "Asia's economy has done relatively well in the past few years, so there aren't as many distressed assets within Asia compared to other markets. Most Asia-focused opportunistic funds which closed in the past few years are China- or India-centric; these are fast-growing countries undergoing building booms," said Preqin spokesman Nicholas Jelfs. Other fund managers also have been raising opportunistic funds, making the playing field more competitive. Late last year, Secured Capital Japan raised $1.45 billion to invest in all types of property in Australia, China, Hong Kong, Japan and South Korea. Hong Kong-based Phoenix Property Investors raised $750 million to invest in office, residential and retail property in mainland China, Hong Kong and Taiwan.

SingPost raises rates for the first time in 8 years CNA POSTED: 02 Sep 2014 20:38 SINGAPORE: SingPost has raised its rates for the first time in eight years. It announced on Tuesday (Sep 2) that local postage rates for letters weighing 20g or less will be adjusted upwards by 4 cents to 30 cents from Oct 1. Adjustments to international rates will range from 5 cents to 25 cents, depending on weight and the zones. International registered mail fee will increase from S$2.20 to S$2.50, to partially recover the cost increase in terminal due payments for registered mail. SingPost said rates were last adjusted in 2006, and that costs have gone up nearly 50 per cent since then. To mitigate the impact of the rates increase, SingPost will give a 5 per cent rebate on franked mail for a year from Oct 1, 2014. Every household will also receive six free local stamps, and charity organisations will enjoy free postage. SingPost says the increase in revenue from the rates adjustments will allow it to invest S$100 million into postal and delivery infrastructure, extended operations and employees. These improvements will include new integrated sorting machines to ensure 100 per cent delivery by the second business day. Extended operations of six days, with Saturdays dedicated to mail packages, will cater to the growing trend of online shopping. SingPost will also hire up to 200 more delivery staff to boost its current manpower strength and serve new housing estates. In a statement, the Infocomm Development Authority of Singapore (IDA) said SingPost had sought its approval to increase domestic and international postage rates for basic mail services. IDA reviewed SingPost's request and agreed to the rate revisions with effect from Oct 1, 2014. IDA said it took into account that SingPost's commitment to investing in measures to improve its services, such as upgrading its postal infrastructure, increasing its manpower, and improving the welfare of, and investing in, its postal workers. The authority also added that it will continue to monitor SingPost's service enhancement measures to ensure that these measures will improve the reliability and quality of basic postal services for businesses and consumers. ---------------------------- With Saturday delivery services resume, they have to recoup some cost back... And that is increase in postage stamps... Better buy SingPost shares, Huat Ah :((

SMRT raises bus drivers' pay SINGAPORE: SMRT on Thursday raised the basic monthly salary for Singaporean bus drivers. The bus drivers will now get S$1625, a 35 per cent increase compared to the previous pay of S$1,200. SMRT said with the change, bus drivers could expect to take home about S$2,500 per month, including overtime, allowances and other incentives. SMRT said current bus drivers would also receive a pay rise. The public transport operator said the higher remuneration is aimed at attracting more Singaporeans into the industry. The pay raise also comes on the back of a similar move by the other bus operator, SBS Transit, less than a month ago. Singaporean bus drivers with SBS Transit now bring home a basic pay of S$1,600, compared to the S$1375 previously. - CNA/wm Remember all the argument about their pay.................. here you go. Question. Who pays for it? The S$1B grant or loan or whatever you call it or SMRT itself?

http://www.channelnewsasia.com/stories/sin...1080137/1/.html NTU's blogging rule raises eyebrows By Leong Wee Keat | Posted: 09 September 2010 1615 hrs SINGAPORE: It is an annual reminder, according to Nanyang Technological University but its recent circular on blogging has raised eyebrows on campus. Among its several do's and don'ts for Internet postings, the Nanyang Technological University Students' Affairs Office has set out this rule: Those who create webpages or blogs containing information regarding politics and religion must acquire proper licences from the Media Development Authority and the university's written approval. The email was sent on Tuesday to all students with the subject title, Message on Exercising Freedom of Expression Responsibly, in block letters. When asked what prompted the email and when the circular was first published, NTU Dean of Students Lok Tat Seng said, "Every year, we disseminate information on the do's and don'ts of Internet usage as a regular reminder to our students. The new academic year has just started, hence it's an appropriate time to disseminate the guidelines. These guidelines are posted on NTU's website for their reference, too." NTU did not respond, however, to MediaCorp's queries on why students needed the university's written approval to create webpages or blogs touching on politics and religion. Nor did it reply to the question on how many students have obtained written approval thus far. Under the Broadcasting Act, registration is required for websites deemed by the authorities to be propagating political or religious issues relating to Singapore. The last time any website was required to register as a political site, though, was in 2001. The owner of the site, Sintercom, shut it down in protest. Some NTU students are now questioning the university's approach. Final-year student Terence Lee, 24, who has been blogging about religion for the past two years, said it was the first time he had seen its rules. "Requiring students to register with the university is ridiculous," he said. "I'm taking a module which requires students to blog about international affairs. Does this mean all of us have to register?" On the other hand, third-year student Gillian Goh, who also said it was the first time she had seen the circular, felt the reminder was necessary even though some of her friends were "unhappy" about it. "No matter what you post online, and no matter how you defend it or even retract it later, students have to take responsibility for what they say," she said. Last week, a blogger posted about foreign students he accused of not contributing to group projects and, in some cases, copying the work of other students. The anonymous author, who identified the students and posted their photos, has since removed the blog. Two other universities here approach social media with a light touch. "It, however, crosses the line when comments and remarks are untrue or inflammatory," a Singapore Management University spokesperson said. The National University of Singapore "does not monitor students' postings in blogs and other online media", but a spokesperson said students are expected to abide by the university's Honour Code, "which includes not acting in a manner which is or may be detrimental to the reputation, dignity, interest, or welfare of the University". SMU students, too, are bound by the university's Code of Conduct, whereby students are expected to refrain from hate speech or epithets - be it racial, ethnic, religious, sexual or political in nature - in any media or communication. "In situations like these, we believe in education and dialogue, instead of authoritarian and punitive measures," its spokesperson said. - TODAY/fa

Why don't NCC help to run all the Charities in Singapore ?? Especially Community Chest...

http://www.bloomberg.com/apps/news?pid=206...nvhc&refer=home Another high risk move

Iceland raises interest rate to 15 percent Bloomberg News Tuesday, March 25, 2008 COPENHAGEN: The Icelandic central bank raised its key interest rate by a record 1.25 percentage points at an emergency meeting Tuesday to halt a slump in the krona and a surge in inflation. The currency made its biggest ever jump against the euro. Sedlabanki said it raised the benchmark rate to 15 percent. It had not planned to hold a rate meeting until April 10. It was "crucial" to reverse the krona's decline "as quickly as possible," the bank said in a statement on its Web site. The krona has tumbled 17 percent against the euro in the past three weeks on concern that the global financial turmoil would make it harder for Iceland to finance one of the world's largest current account deficits. The country risks "spiraling" wages and inflation if that decline is not pared, the central bank said. Inflation reached an annual rate of 6.8 percent last month. "They were losing the battle with inflation," said Ludvik Eliasson, an economist at the country's second-largest lender, Landsbanki Islands. "Inflation expectations were rising significantly over the past few weeks on the decline of the krona. They had to do something convincing." The krona gained as much as 5.3 percent against the euro after the surprise announcement and jumped as much as 6.3 percent against the dollar. Inflation has exceeded the central bank's 2.5 percent target every month since April 2004, while the current account shortfall stood at 15.6 percent of the economy last year, according to data from the national statistics office and the central bank. Inflation probably quickened to 8.4 percent this month, according to the median estimate of five economists surveyed by Bloomberg. This year's slump in the krona represents the second time investors have shunned the currency since 2006. The krona lost 20 percent against the euro that year, sparked by concern the current account gap was unsustainable. The currency recovered in 2007 as inflation slowed and the current account deficit narrowed. This year's global financial turmoil has once again undermined confidence in the currency.

Great idea from another thread... to boycott whichever company raises petrol prices first for at least a month. We should send messages to drivers we know and spread the word around. I read that this hike was started by Caltex... so should we start with Caltex first? Comments?

take note.....pump your full tank today before the other petrol company raise prices.