View Full Version : Policy impact
This will be my only post..... I see many worried bros and sis... No choice, must help a bit...
The objective of this is really to prevent a bubble... If formed, it WILL be detrimental to us... If we did not have the CM, the prices today will be at least 50% more than current prices... Hahahahahaha :eek: :eek: :eek:
So impact (I will only cover a few points). You need to have your own view.... I am not saying mine is rite.... Some will think otherwise. You have every right in your view...
1. Many people will find owning a 2nd unit more and more difficult. So if u have already a 2nd or more, consider yourself lucky... If u sell 1 unit now, would u do a replacement???? Would it be unsized or downsized???
2. Will there be fire sales???? Yes... Who will have this sales??? Imagine u bot a bigger and more expensive unit recently and need to sell your current unit to fund this "upsizing'. What would u do????
3. Will those who own 2 units or more sell??? Would u???? Hahahaha
4.. More will be using 'proxy' to achieve the goal.
5. Many will be 'locked out' of this came... Radha and Shanz are the few lucky ones.... CONGRATES bros.
6. Pes/roof terrace units will be more expensive if nor rare in the future.... Rare because developer needs to 'pay' for it. Most won't do it now, thus will be rare. We all know when something is rare, what happens.
7. Market will stabilize or drop a bit... It needs to drop more than 7/4% to make it worthwhile for 2nd prop investor and more than 10/7%for 3rd prop investor.
Will it drop this quantum (depends if u apply existing cm of 3% or not).
8. It will take a few months for market to work out the impact. People analyse damn slowly... First mover wins... Hahahahahaha
9. Agents will need to grab whatever now.... They will move towards rental biz. Just like in the previous CM.
10. Hdb, pr cannot rent out. Most will shift back in and rent out their PC. Some will sell their hdb or pc (depends on what they see the market to be). There will be a shortage of hdb to rent??? Think of the impact. Hahahahahaha
OK. Enough.... The rest I will leave u all to figure out... Remember, I most of the time sala.... Hahahahahaha.. And take this with a huge dose of salt. I here to TCSS....
And please, please do not panick... If u find yourself panicking and breaking into a cold sweat... PLEASE sell... Not worth it leh.... Property is not for you...
Cheers... You all have a place in my heart....
LAST POST!!!!!!! :cheers4::cheers4: :cheers4: :cheers4: :cheers4: :cheers4: :cheers4: :cheers4:
Thank you!
I say those who already bought just sit back & relax.
Those who have not will now get their chance.
And please, please do not panick... If u find yourself panicking and breaking into a cold sweat... PLEASE sell... Not worth it leh.... Property is not for you...
Cheers... You all have a place in my heart....
LAST POST!!!!!!! :cheers4::cheers4: :cheers4: :cheers4: :cheers4: :cheers4: :cheers4: :cheers4:
how about those panicked, and bought yesterday ? :D
big big bro... dun go leh... :D
how about those panicked, and bought yesterday ? :D
big big bro... dun go leh... :D
Bro, really LAST ONE... They SMART. Bro, u want to know the impact of this...
1. Those who have 1 pc and no hdb - will they sell???
2. Those who have 1 or more investment units, will they sell within the next 6 month???
Do a poll and u will see the results... I ain't selling for sure. Hahahahahaha with each CM, I tell myself, HENG AH, LUCKY I BOUGHT. What about you???
Cheers... Better stop breaking my promise. If not I not trust worthy... Hahahahahaha
:cheers4: :cheers4: :cheers4: :cheers4: :cheers4:
Cheers... Better stop breaking my promise. If not I not trust worthy... Hahahahahaha
:cheers4: :cheers4: :cheers4: :cheers4: :cheers4:
wow bro, thanks for replying...
i m sure more from here will rather u stay in the forum :D
I bought a pc 1 yr + back so I have an existing home loan. So if I decide to buy a second pty, I will have to pay 25% cash down payment? Omg. And the LTV is only 50%??
Bro, really LAST ONE... They SMART. Bro, u want to know the impact of this...
1. Those who have 1 pc and no hdb - will they sell???
2. Those who have 1 or more investment units, will they sell within the next 6 month???
Do a poll and u will see the results... I ain't selling for sure. Hahahahahaha with each CM, I tell myself, HENG AH, LUCKY I BOUGHT. What about you???
Cheers... Better stop breaking my promise. If not I not trust worthy... Hahahahahaha
:cheers4: :cheers4: :cheers4: :cheers4: :cheers4:
Thanks for the analysis, I will also hold tight tight :cheers4:
Prices depends very much on developers now.
Whether there is enough demand for new and existing unsold launches.
Bidding prices for future GLS will be a good test of confidence for developers.
Prices depends very much on developers now.
Whether there is enough demand for new and existing unsold launches.
Bidding prices for future GLS will be a good test of confidence for developers.
Many developers will stay out unless it is choice location beside MRT or something. Look at SC global, need to pay so much for extension to sell
I just realised that the latest CM is very beneficial to me :p
bro chestnut we the citizens of condo.singapore miss your contributions...see you again when CM 8..happens...wahahhahah:D:D:D
I bought a pc 1 yr + back so I have an existing home loan. So if I decide to buy a second pty, I will have to pay 25% cash down payment? Omg. And the LTV is only 50%??
correct...
2nd loan - ltv 50% for loan tenure <= 30 yrs and age not extend pass 65
3rd loan - ltv 40% for loan tenure <= 30 yrs and age not extend pass 65
buttercarp
12-01-13, 07:32
10. Hdb, pr cannot rent out. Most will shift back in and rent out their PC. Some will sell their hdb or pc (depends on what they see the market to be). There
will be a shortage of hdb to rent??? Think of the impact. Hahahahahaha
Hi bro nut, I am so happy to see you post again.
Now I know you will be there watching us even if you don't post regularly.
Just like to ask the above: PR cannot keep HDB when they buy PC - that's the lastest.
But what about existing PR with both HDB and PC?
I know they cannot let out HDB now, but can they keep both?
If a couple co-own only one property, just do a transfer to one, stamp duty is only 3% on 50%. Then the transferor still can buy one as first property
Hi bro nut, I am so happy to see you post again.
Now I know you will be there watching us even if you don't post regularly.
Just like to ask the above: PR cannot keep HDB when they buy PC - that's the lastest.
But what about existing PR with both HDB and PC?
I know they cannot let out HDB now, but can they keep both?
PR who already have hdb and pc, before the CM announced can keep both. But cant rent out hdb whole unit. BUT can rent out rooms, ok wat i think, rent out all the bedrroms lor.
Just wake up and see chestnut, tot I am dreaming,
pl come back, but don't come back cos of CM, then I will not like u
Good summary. I will hold tight to them too and wait for good buy under proxy.:D
Bro, really LAST ONE... They SMART. Bro, u want to know the impact of this...
1. Those who have 1 pc and no hdb - will they sell???
2. Those who have 1 or more investment units, will they sell within the next 6 month???
Do a poll and u will see the results... I ain't selling for sure. Hahahahahaha with each CM, I tell myself, HENG AH, LUCKY I BOUGHT. What about you???
Cheers... Better stop breaking my promise. If not I not trust worthy... Hahahahahaha
:cheers4: :cheers4: :cheers4: :cheers4: :cheers4:
The winner is clear:
1. Rental
2. Johor bahru
3. Ec (because the rule between ec and pc now similar)
The loser:
1. Ccr
2. Big quantum ocr
3. Hdb (rental restriction, no more a cash cow)
phantom_opera
12-01-13, 08:19
Dun underestimate this CM, it will kill those upgraders with existing loan as 2nd prop 7pc absd, 50pc ltv and 25pc cash
Game over for them
Dun underestimate this CM, it will kill those upgraders with existing loan as 2nd prop 7pc absd, 50pc ltv and 25pc cash
Game over for them
Agree. It will cause a freeze in this group. Just when they thought they can upgrade since their home values are higher and move into the 1.5M - 2M category...
Superstar1
12-01-13, 08:49
If a couple co-own only one property, just do a transfer to one, stamp duty is only 3% on 50%. Then the transferor still can buy one as first property
Wow, this is worth considering for ppl like me caught in this latest CM. If I transfer HDB to my wife say assume value is 500k how much stamp duty would we incur? Thanks for the suggestion
Can transfer HDB ownership?
Wow, this is worth considering for ppl like me caught in this latest CM. If I transfer HDB to my wife say assume value is 500k how much stamp duty would we incur? Thanks for the suggestion
East Lover
12-01-13, 09:04
Bro, really LAST ONE... They SMART. Bro, u want to know the impact of this...
1. Those who have 1 pc and no hdb - will they sell???
2. Those who have 1 or more investment units, will they sell within the next 6 month???
Do a poll and u will see the results... I ain't selling for sure. Hahahahahaha with each CM, I tell myself, HENG AH, LUCKY I BOUGHT. What about you???
Cheers... Better stop breaking my promise. If not I not trust worthy... Hahahahahaha
:cheers4: :cheers4: :cheers4: :cheers4: :cheers4:
Big bro, thanks for ur post! :cheers4: :cheers4: :cheers4:
East Lover
12-01-13, 09:06
Can transfer HDB ownership?
I know some friends, husband converted to sc, wife still pr and holding malaysia or prc passport.
Which rule will they follow? Sc or pr??
phantom_opera
12-01-13, 09:08
I know some friends, husband converted to sc, wife still pr and holding malaysia or prc passport.
Which rule will they follow? Sc or pr??
Whichever higher absd, but can refund if sell off in 6m when upgrade, provided u can afford 50pc ltv and 25pc cash if 2nd loan, capital appreciation game over liao
Bro, really LAST ONE... They SMART. Bro, u want to know the impact of this...
1. Those who have 1 pc and no hdb - will they sell???
2. Those who have 1 or more investment units, will they sell within the next 6 month???
Do a poll and u will see the results... I ain't selling for sure. Hahahahahaha with each CM, I tell myself, HENG AH, LUCKY I BOUGHT. What about you???
The assumptions are low interest rate & continued liquidity in the market, & steady rental yield.
With 2013 & 2014 record number of completed homes coming up, and rental yield dips, & when interest rate start to rise in US during 2nd half 2013,
do you think how many can hold when it becomes negative cash flow?
The only consolation is that govt said the measures will be temporary.
Thank you!
I say those who already bought just sit back & relax.
Those who have not will now get their chance.
Thanks bro chestnut. And to khng yes I'm watching the whole saga like an entertaining Friday night movie.
Just like to ask the above: PR cannot keep HDB when they buy PC - that's the lastest.
But what about existing PR with both HDB and PC?
I know they cannot let out HDB now, but can they keep both?
since cannot let out HDB, move back HDB to live or let it stay empty lor. rent out room can, but must keep at least one room ownself "use". but the yield renting out 1 room is lower, is it not? there will be some rule to cover this, i'm sure.
I have a 1st Private condo fully paid, no loan. How will this new CM affect me if I want to get 2nd pc?
5. Many will be 'locked out' of this came... Radha and Shanz are the few lucky ones.... CONGRATES bros.
:cheers4: :cheers4:
bro nutty, thank you. indeed a big "HENG" ah..
you have a place in our hearts too. thanks for watching out for us.
I have a 1st Private condo fully paid, no loan. How will this new CM affect me if I want to get 2nd pc?
other than the 7%, i think not much impact on you. and the cash down.
if devp adjust price by 7% to accommodate this CM, then no net impact.
Wait Long Long
12-01-13, 09:28
you need to pay additional 7% ABSD i think
Wow, this is worth considering for ppl like me caught in this latest CM. If I transfer HDB to my wife say assume value is 500k how much stamp duty would we incur? Thanks for the suggestion
are you dreaming!?:doh:
Just wondering, if I am looking to sell my condo, thereafter looking for a second property, how will this affect me. Am I still considered a first time buyer?
Impact :
1. the property game is now belong to the rich, especially the cash rich. It is now even beyond the reach of ave income group
2. size of the property will reduce further, to take care of lower LTV
3. GLS price will soften, but for those next to MRT, it will go higher
4. rental will still be firm or even higher depends on the population policy
5. CCR and big tickets : worst hit
6. practically, all the marginal buyers are now filtered out
7. pent up demand will be building up fast, it is going to be very difficult for the Govt to unwind the CM so long the interest rate remains low
8. price correction -5% to 10%, developers have deep pockets
I will get my children to find their spouse with citizenship of USA
phantom_opera
12-01-13, 10:11
Laguna why u think Gls near mrt will go even higher?
Laguna why u think Gls near mrt will go even higher?
1. supply limited
2. now if you want to buy, where u would buy? only near to MRT with short walking distance. All buyers will be getting much more selective.
Let's wait for the GLS at Tanan Merah in early Feb, and see whether KepLand will defence the price
phantom_opera
12-01-13, 10:22
1. supply limited
2. now if you want to buy, where u would buy? only near to MRT with short walking distance. All buyers will be getting much more selective.
Let's wait for the GLS at Tanan Merah in early Feb, and see whether KepLand will defence the price
U might be right, developers might have factored in further CMs previously when bidding, at least la fiesta buyers are not fearful
assessed from La Fiesta sale
so long the price soften by 7%, the demand will still be there
U might be right, developers might have factored in further CMs previously when bidding, at least la fiesta buyers are not fearful
forgot to add, with COE getting thru the roof and the petrol, MRT is now getting very critical
Thank you!
I say those who already bought just sit back & relax.
Those who have not will now get their chance.
Your statements contradictary leh
other than the 7%, i think not much impact on you. and the cash down.
if devp adjust price by 7% to accommodate this CM, then no net impact.
Dev adjust 7percent price drop by 7percent straight away? wont that be shocking deep drop
should let kids find their own happiness. not based on citizenship for better property investment decisions:D :cheers4:
If the hdb is co-owned by a sc and pr, can they still rent out the whole hdb unit?
Those who bought for capital appreciation b4 April 2012 will be panic now.. as most of the projects will TOP soon...
Those who bought after the magical data, they are tied up by the 4 yrs SSD...
How about those before 2010?
Those who bought for capital appreciation b4 April 2012 will be panic now.. as most of the projects will TOP soon...
Those who bought after the magical data, they are tied up by the 4 yrs SSD...
Impact :
5. CCR and big tickets : worst hit
What would you consider as big tickets in today's market Laguna, more than $2M property?
Very scary ... :scared-4:
If a couple co-own only one property, just do a transfer to one, stamp duty is only 3% on 50%. Then the transferor still can buy one as first property
Thought of that - but existing housing loan might pose a problem due to new LTV ratios, eg previous 80% loan now gotta reduce tenor.
Those who bought for capital appreciation b4 April 2012 will be panic now.. as most of the projects will TOP soon....
Why leh?:)
Impact :
I will get my children to find their spouse with citizenship of USA
Dont need to restrict to USA - Norwegian, Swiss also can .;)
Your statements contradictary leh
I don't think px will crash do existing owners no need worry.
It will stabilize px so first timers get their chance.
Everybody happy :)
U can of course disagree.
Cyberknight
12-01-13, 13:11
Those super rich USA nationals etc who are exempted fr ABSD will still continue to buy sin properties.... To park $$ n evict tax bk home...
Those super rich USA nationals etc who are exempted fr ABSD will still continue to buy sin properties.... To park $$ n evict tax bk home...
Exactly! US citizen both husband & wife buy separately, they are paying zero ABSD!
Impact :
5. CCR and big tickets : worst hit
I think it depends. We know that CCR has already moderated such that OCR has catch up and the game is narrowed. If CCR continue to slide, OCR won't slide?
But for CCR that are >$3000psf, that is a different story.
Allthepies
12-01-13, 15:12
CM only means price will continue North. Monday will be a good time to pick up certain assets.
Jonathan0503
12-01-13, 16:52
Those who bought for capital appreciation b4 April 2012 will be panic now.. as most of the projects will TOP soon...
Those who bought after the magical data, they are tied up by the 4 yrs SSD...
Why panic leh? Can rent out wat
Why panic leh? Can rent out wat
Agree. Rental demand will only trend up plus low interest env continues to create surplus cashflow for investors.
IMO this CM crashed many ordinary Singaporeans' upgrade dream. Just when they think they have saved enough, now with all these they can never move up.
For the rich, the holding cost is so low, nothing is going to happen.
I cannot imagine what will happen when LTV suddenly gets restored to 80%, how many ppl will suddenly have the capacity to buy condos.
How about those before 2010?
When exactly ? If it's 2009, 10, then standing on real huge profit...
Why leh?:)
Cause not many investor willing to fork out 10% to buy your unit !!!
I cannot imagine what will happen when LTV suddenly gets restored to 80%, how many ppl will suddenly have the capacity to buy condos.
I will BET with you that when LTV get restored to 80%, NOBODY will want to buy any condo.
common sense lah....
correct...
2nd loan - ltv 50% for loan tenure <= 30 yrs and age not extend pass 65
3rd loan - ltv 40% for loan tenure <= 30 yrs and age not extend pass 65
hi another question. so with a loan tenure of 50% and downpayment of 25%, means that the other 25% will come from CPF OA? (if i have enough in OA)
I will BET with you that when LTV get restored to 80%, NOBODY will want to buy any condo.
common sense lah....
My point is, gov is artificially suppressing demand, to buy time for its supply to come on line in 2yrs time, both public and private. The pent up demand will be significant. Gov hopes in 2yrs time interest rate will restore to normal levels, thus the demand then can be moderated.
Save for an economic disaster in SG itself, property prices will just stagnate for the next 2yrs. No one is selling, no one is buying.
hi another question. so with a loan tenure of 50% and downpayment of 25%, means that the other 25% will come from CPF OA? (if i have enough in OA)
hi, right :)
My point is, gov is artificially suppressing demand, to buy time for its supply to come on line in 2yrs time, both public and private. The pent up demand will be significant. Gov hopes in 2yrs time interest rate will restore to normal levels, thus the demand then can be moderated.
Save for an economic disaster in SG itself, property prices will just stagnate for the next 2yrs. No one is selling, no one is buying.
First and foremost, it's all about first timers. I think it's clear that this issue is not resolved as fast as gov like. 2016 is a mere 3 years later. It's time to act. If mkt stabilizes these 2 years, first timers will be happy. Then slowly roll back CM in time for 2017.
Thanks. You hve answered my question. :D
When exactly ? If it's 2009, 10, then standing on real huge profit...
Cause not many investor willing to fork out 10% to buy your unit !!!
My point is, gov is artificially suppressing demand, to buy time for its supply to come on line in 2yrs time, both public and private. The pent up demand will be significant. Gov hopes in 2yrs time interest rate will restore to normal levels, thus the demand then can be moderated.
Save for an economic disaster in SG itself, property prices will just stagnate for the next 2yrs. No one is selling, no one is buying.
They need demand to freeze whilst they rapidly ramp up supply.
hi another question. so with a loan tenure of 50% and downpayment of 25%, means that the other 25% will come from CPF OA? (if i have enough in OA)
The other 25% could come from the time lag for Progressive Payment if the developer is building it slow enough (and your other income is getting in quick enough.)
My point is, gov is artificially suppressing demand, to buy time for its supply to come on line in 2yrs time, both public and private. The pent up demand will be significant. Gov hopes in 2yrs time interest rate will restore to normal levels, thus the demand then can be moderated.
Save for an economic disaster in SG itself, property prices will just stagnate for the next 2yrs. No one is selling, no one is buying.
I agree that market will be stagnate after this round. I would term if as a knock out round for many property agents. Commission is base on volume. Rental will not be as good money as sales.
i think its really the interest rate and time.
people parking their money in bank will feel inflation effect.
people who are getting older will lose time to borrow and buy.
there will be pent up for first time buyer likely those in la fiesta.
i am surprised by the reaction of 600 folks rushing...when the last cm people were cancelling.
Hence parents will rather use some of their money to help their kids.
First and foremost, it's all about first timers. I think it's clear that this issue is not resolved as fast as gov like. 2016 is a mere 3 years later. It's time to act. If mkt stabilizes these 2 years, first timers will be happy. Then slowly roll back CM in time for 2017.
With so many CMs, has anyone in the govt ever thought of how to roll back all of them when the time comes without causing unhappiness and political damage? It's like you put landmines all over the place and now very hard to remove them.
E.g. If govt announce removal of ABSD wef today, then those who bought yesterday will be damned:banghead: :banghead:
With so many CMs, has anyone in the govt ever thought of how to roll back all of them should the time comes without causing unhappiness and political damage? It's like you put landmines all over the place and now very hard to remove them.
E.g. If govt announce removal of ABSD wef today, then those who bought yesterday will be damned:banghead: :banghead:
Actually remove = heating measure. Why damned?
Deliberately tell you temporary so that you wait if not in a rush. That helps hold demand till supply matches.
I suspect they need to see market correction before they take it off.
My point is, gov is artificially suppressing demand, to buy time for its supply to come on line in 2yrs time, both public and private. The pent up demand will be significant. Gov hopes in 2yrs time interest rate will restore to normal levels, thus the demand then can be moderated.
Save for an economic disaster in SG itself, property prices will just stagnate for the next 2yrs. No one is selling, no one is buying.
This equation got loophole. Demand will always be there.
Recent demand alot are first time buyers.
So I think this CM does more damage to supply then demand.
Also, the outcome of the population paper is a forgone conclusion, we DO NEED more foreigners. We all know.
DKSG
I suspect they need to see market correction before they take it off.
Yes, the last time round, the CMs were only removed following the Asia financial crisis. Not sure I want that to happen.:scared-3:
In that situation, how many dare to buy?
adrianmtsg
13-01-13, 06:29
i fully agree.
i personally favor this CM although it is to my disadvantage. i see that we are moving towards the like of HK and worse, the USA.
i think property investment and speculation will be on hold. This should give first time buyer and HDB upgrader a breather. If the supply of HDB flats increases, COV should drop, then prices may come down. As for Pte houses, it will soften but i doubt there are fire sales. Afterall, KBW said that ABSD is a temporary measure.
My point is, gov is artificially suppressing demand, to buy time for its supply to come on line in 2yrs time, both public and private. The pent up demand will be significant. Gov hopes in 2yrs time interest rate will restore to normal levels, thus the demand then can be moderated.
Save for an economic disaster in SG itself, property prices will just stagnate for the next 2yrs. No one is selling, no one is buying.
adrianmtsg
13-01-13, 06:38
Why do the government need to worry on this? Each CM is targeted to help the lower and middle class citizen. In fact, i felt the last few CM were too lenient. Easy cash are flowing in not helping our economy but only jacking up our property inflation!
With so many CMs, has anyone in the govt ever thought of how to roll back all of them when the time comes without causing unhappiness and political damage? It's like you put landmines all over the place and now very hard to remove them.
Impact :
1. the property game is now belong to the rich, especially the cash rich. It is now even beyond the reach of ave income group
2. size of the property will reduce further, to take care of lower LTV
3. GLS price will soften, but for those next to MRT, it will go higher
4. rental will still be firm or even higher depends on the population policy
5. CCR and big tickets : worst hit
6. practically, all the marginal buyers are now filtered out
7. pent up demand will be building up fast, it is going to be very difficult for the Govt to unwind the CM so long the interest rate remains low
8. price correction -5% to 10%, developers have deep pockets
I will get my children to find their spouse with citizenship of USA
what about Australia PR or citizenship?
what about Australia PR or citizenship?
If i am not wrong, whether us citizen or Singapore citizen no difference. Both have to pay the same stamp duty. Our FTA agreement with the US just says that we cannot impose additional taxes on US citizens over and above what Singaporeans are paying. So no advantage for any foreigner over us.
Why do the government need to worry on this? Each CM is targeted to help the lower and middle class citizen. In fact, i felt the last few CM were too lenient. Easy cash are flowing in not helping our economy but only jacking up our property inflation!
Because there is substantial economic costs associated with these measures. Singapore overnight becomes a highly unattractive destination for foreign investment. Every stamp duty imposed comes with significant deadweight loss for the economy. The property market becomes illiquid and inefficient. If this continues for a prolonged period, there will be detrimental effects to the economy. Need to calibrate carefully and think of exit strategy well in advance.
In short run, of course the CMs have a role in enhancing housing affordability. That I don't argue.
Because there is substantial economic costs associated with these measures. Singapore overnight becomes a highly unattractive destination for foreign investment. Every stamp duty imposed comes with significant deadweight loss for the economy. The property market becomes illiquid and inefficient. If this continues for a prolonged period, there will be detrimental effects to the economy. Need to calibrate carefully and think of exit strategy well in advance.
In short run, of course the CMs have a role in enhancing housing affordability. That I don't argue.
Thinking of withdrawing funds from SG to invest in Melbourne,as is no longer attractive to invest here for the time being.The rental yield may get squeeze further if demand curb and huge supply catching up fast.
Thinking of withdrawing funds from SG to invest in Melbourne,as is no longer attractive to invest here for the time being.The rental yield may get squeeze further if demand curb and huge supply catching up fast.
Go Malaysia KLCC area. Nearer, easier to manage.
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