Newbie
Counting down ... 1 more day to see the magic figure
Anyway u shld be rite lah, since prelim number was already reported to be around tt range
Originally Posted by bargain hunter
not for this month leh, it could be anything 2xxx to 3xxx!hahaha...
ok lah, to be conservative as well i shall say 20xx...anyway will already have the closer number if it exceeds 2000 mah...kiasu kekeke...
Newbie
next wave of bull run in the making. gdp up strongly and it affects the whole SEA market currencies. All appreciating.
Junior
S'pore economy has made a remarkable recovery: PM Lee
By May Wong | Posted: 15 April 2010 0010hrs
WASHINGTON DC : Prime Minister Lee Hsien Loong says Singapore's economy has made a remarkable recovery from a year ago and he expects a good year going forward.
He said the rebound from the downturn surpassed expectations. He was reacting to Singapore's strong economic performance for the first quarter of the year.
Speaking to the Singapore media in Washington DC before flying off to Chicago for the second leg of his US visit, Mr Lee said he does not believe the strong growth will continue indefinitely because it is just not possible.
He said: "Our target is 3 to 5 per cent growth over the next 10 years. This year is off to a very good start - I expect we should have a good year.
"And we should make the most of these conditions this year to get momentum for our longer term plans to upgrade the productivity, transform the economy and to continue to work at our tripartite relationship between the unions, employers and the government, so that the next time something hits us, we are stronger than we were the last time."
The Trade and Industry Ministry has also revised Singapore's inflation rate from 2 per cent to between 2.5 and 3.5 per cent. But Mr Lee does not expect prices for daily necessities - like food or clothes - to increase drastically.
As for rising property prices, he said the government had already introduced measures to prevent a bubble from forming.
He added: "When there is a momentum like this for the housing market, it doesn't change on the dime. You don't introduce new measures and tomorrow, straight away, prices drop. If you did, you probably are risking a crash and you don't want to cause destabilisation.
"So we'll have to watch it over the next few months and decide whether we need to do something more or not. If we need to, we will - we have some instruments.
"But when you're dealing with property prices, we can influence the major directions. We can't influence the day-to-day ups-and-downs and the value of every individual flat."
On his assessment of the 2-day Nuclear Security Summit involving 47 world leaders, Mr Lee called it a useful meeting.
He said US President Barack Obama did a good job in bringing the subject of nuclear proliferation to the forefront. This enabled the various countries to discuss and make commitments to mitigate the risk of nuclear terrorism.
During his stay in the capital, Mr Lee also had meetings with some members of the US administration and the business community on the sidelines of the summit.
He said the feedback he received was that they were quietly confident the US economy is recovering. "There are still some headwinds and they may not come back to full robust growth for some time."
He added: "And even when they do come back to robust growth, they cannot come back to where they were, which is consuming more than they were producing and covering the difference by borrowing.
"So it will be a different balance and the world will have to get used to this different balance. But as long as it keeps on an even keel like this, I think that provides the conditions for Asia to continue its growth and its transformation."
- CNA/al
BE CENTRED BY ALL AT THE FRINGE OF THE CITY @
Newbie
Well the main question is what next?
2009 Q1 was probably the bottom for the economy and the housing market, although by the end of Q1, there were signs that the housing mkt was picking up (but not the economy).
Now at least the economy appears to have caught up or narrow the gap with the housing mkt. We will have to wait for the response from the governement with their cooling measures to confirm.
F01 N54 Sheer Driving Pleasure
Government's growth forecast conservative: Analysts
TODAY
Millet Enriquez
Thursday, 15 April 2010
After the first quarter's stunning performance, private sector economists are now revising their growth forecast up for the year to between 7.5% and 9.5%, a tad higher than the Government's revised projections announced yesterday.
On-year gross domestic product (GDP) growth of 13.1% was the highest in 16 years, and with such a spectacular showing coming out of last year's recession, analysts believe the economy can hit 8% growth for the full year - even if the rest of the quarters record disappointing growth.
Some felt the Government's latest revised forecast was still too conservative. IMR Robert Prior-Wandesforde, senior Asian economist with HSBC in Singapore, said growth could average 9.1%; Mr David Cohen, Action Economics' director of economic forecasting for Asia, cited 9.5%.
The strong showing will also translate into more jobs and lead unemployment levels to fall to below the 2% level, resulting in technical "full employment" this year, the private sector economists said.
The services sector, which accounts for about 68% of total employment here, is expected to be the main beneficiary. OCBC Bank's head of Treasury Research and Strategy Unit, Ms Selena Ling, said: "With the integrated resorts coming on-stream, demand for tourism-related manpower is expected to increase significantly."
She also expects companies to adjust wages and bonuses to reflect the improved economic conditions, estimating nominal wage growth to be about 4% on-year.
Better job prospects are already apparent in the manufacturing sector, the economy's star performer with 139% on-quarter growth in the first 3 months.
Mr Renny Yeo, president of the Singapore Manufacturers' Federation, said some of its members are already hiring but cautioned the spree could be curbed by the rising labour costs and the Government's plans to tighten its foreign worker levy policy.
Still, analysts reckon the spectacular growth in the manufacturing sector, which was supported by the biomedical and electronics sector, may not be sustainable. "At some stage, the restocking momentum will also start to fade off," said Mr Kit Wei Zheng, economist at Citigroup.
DBS economist Irvin Seah agreed and said he expects a pullback in the pharmaceutical sector due to the industry's volatile nature.
Going forward, the services sector will likely become the economy's new star performer as it is poised for record growth, economists said. "Export orientated industries will also continue to benefit from the extremely strong and, in my view, sustainable recovery in the regional trade cycle," said HSBC's Prior-Wandesforde.
Newbie
1761 units for March ... ...
F01 N54 Sheer Driving Pleasure
Singapore Pools welcome your visit this weekend!
Newbie
Think it shld be 4,446 for the qtr with that
F01 N54 Sheer Driving Pleasure
Carret Asset adding stocks in Singapore after boost in GDP estimate
Bloomberg
Singapore
Thursday, 15 April 2010, 9.36 am SGT/CCT
Carret Asset Management is buying stocks in Singapore after the government raised its forecast for economic growth as demand for property and cars accelerated.
“We will gradually be adding to our position,” Donald Gimbel, senior managing director at New York-based Carret, said in an interview on Bloomberg Television. He named commodity supplier Noble Group. “With the recovery around the world, Singapore is a very important part of people’s investment.”
The government boosted its estimate for expansion in gross domestic product for the second time this year yesterday, sending the Singapore Straits Times Index up 1.6%, the biggest advance among equity gauges in the Asia-Pacific region. The economy may grow 9% in 2010, up from 6.5%.
F01 N54 Sheer Driving Pleasure
Instant view
China GDP growth quickens but inflation tame
Aileen Wang, Zhou Xin, Michael Wei and Melanie Lee
Reuters
Beijing, China
Thursday, 15 April 2010, 11.24 am CCT
China's annual economic growth quickened in the first quarter to 11.9%, the fastest pace since 2007, benefiting from a low base of comparison last year and the momentum imparted by massive bank-financed stimulus.
Inflation remained subdued, giving policymakers the luxury of waiting a while, should they choose, before tightening policy further to head off overheating. Consumer prices rose 2.4% in the year to March, less than expected.
Key Points
-- Economists had forecast GDP growth of 11.5% and March CPI inflation of 2.6%.
Market Reaction
-- Benchmark one-year dollar/yuan offshore forwards were bid at 6.6100 at 0248 GMT, compared with 6.6090 before the data was announced, after briefly touching a 3-month low.
-- The Shanghai stock market was down 0.03%, compared with a fall of 0.27% before the data came out.
F01 N54 Sheer Driving Pleasure
Labour movement calls for CPF contribution rate to be restored
Channel NewsAsia
Thursday, 15 April 2010, 1134 hrs
Lim Swee Say
Singapore's labour movement has called for a restoration of the employer's CPF contribution rate in the wake of the strong rebound of the Singapore economy in the first quarter of this year.
Singapore's economic growth for this year is expected to come in at between 7 and 9%.
The current total CPF contribution rate is 34.5% with employees contributing 20% and the rest from employers.
The CPF contribution rate was last restored in 2007 after it was cut in 2003.
Speaking to reporters after a company visit on Thursday, NTUC Chief Lim Swee Say noted that the long term target of the CPF contribution rate is 36%.
However, he would like to leave it to employers to channel their feedback to the government before a final decision is made on the restoration rate.
Mr Lim hoped that a decision on this can be made before the NWC recommendations are out by the end of May.
Junior
I'm sure the decision has already been made.
F01 N54 Sheer Driving Pleasure
Does that mean employees have more CPF money to pay for their home loan installment?
Newbie
Looks like the MAS S$ decision and the CPF restoration moves may add up to the government's view that private property prices are/may be allowed to move upwards further.
Junior
Or the election is really getting very near
Junior
obviously this one lah !
F01 N54 Sheer Driving Pleasure
3月份私宅销售数据显示 售出单位比2月暴增47％
新加坡讯
联合早报
星期四, 15-4-2010
根据市区重建局（URA）新出炉的数据显示，发展商在今年3月卖出的新私宅单位可观，高达1761个单位，比2月的1196个单位暴增了近半（47％），也比1月份卖出的1480个单位高出19％。
这似乎显示，我国政府在2月份推出的楼市降温措施还没有发挥成效。
数据显示，核心中央区（CCR）、中央区（RCR）和中央区以外（OCR）的三个地区的成交量都全面上扬，增加至少3成(30%)以上。
其中，市区边缘、代表中档私宅领域的中央区（RCR）成交量大增139％至268个，成为3月份需求增长最快的私宅领域。
中央区以外（OCR）、也就是郊外的大众化私宅领域，成交量增加了38％至776个单位。这占了3月总新私宅需求量的44％。
至于代表黄金地区、高档私宅领域核心中央区（CCR）成交量则增长38％至717个单位。
Newbie
Private home sales up 47% on-month
By Chris Howells | Posted: 15 April 2010 1433 hrs
Photos 2 of 2 " src="http://www.channelnewsasia.com/images/butt_next.gif" width=18 height=15 type=image>
Display suite at Goodwood Residence Related News•Hong Leong's 76 Shenton sells out on first day of launch
Singapore: Private home sales kept up their momentum in March, with 1,761 units changing hands, according to figures from the Urban Redevelopment Authority.
This is up 47 percent on-month.
Analysts say demand for new homes remains strong, despite more government measures to cool the market introduced in February.
76 Shenton in the downtown area was a star performer last month, with 202 units sold at a median price of S$1,900 per square foot.
Developed by Hong Leong Holdings the new 39-storey mixed development that stands
at the corner of Shenton Way and Palmer Road was sold out in one day.
Another project that did well was Goodwood Residence in the Newton area, with 54 units transacted at a median price of S$2,382 dollars psf.
All in, new homes in the prime districts accounted for 720 units of total sales.
City fringe areas accounted for 265 units sold.
Projects in the outlying areas accounted for 776 units transacted.
- CNA/sf
Senior
wah, u win liao lor, u said 17xx, my 20xx was too optimistic, you are so zun!
Newbie
DBR in simei going strong sub sale.
F01 N54 Sheer Driving Pleasure
Actions in District 15.
F01 N54 Sheer Driving Pleasure
Actions in District 11.
F01 N54 Sheer Driving Pleasure
Actions in District 10.
F01 N54 Sheer Driving Pleasure
Actions in District 9.
F01 N54 Sheer Driving Pleasure
Action from District 12.
Junior
Wow "New Highs" all over the place!
This is more ferocious than 2007 !
Looks more like 1990 ...
Bricks & Mortar
Go Parvis...waiting for Capitaland to launch the 99 yrs new condos at ex-Farrer Court, sure push up prices in Holland/Farrer area...Already Holland Residence psf is higher than Parvis....
Bricks & Mortar
to clarify, am comparing 2 bedder psf:
from URA website:
HOLLAND RESIDENCES TAMAN WARNACondominium11,755,000958Strata1,832Feb-10
VS
PARVIS HOLLAND HILLCondominium11,678,950990Strata1,695Jan-10
F01 N54 Sheer Driving Pleasure
District 2 has a new hïgh!
Senior
seems that every piece of news i read on this forum IS A GOOD NEWS ..
what happens to all the bad ones ?
no one seems to bother about the bad news .. or no one wants to report the bad news .. and thats bad news in itself ..
Kill the Messenger .. who reports only the good news ..
SEC charges Goldman Sachs with fraud in CDO tied to subprime
GS share fell some 23 usd ..
DJ down 1.2 pct ..
how many investors are holding these CDOs?
how many asian banks have these CDOs ?
asian stock markets will be hit i am sure come monday ..
so please people .. good to hear GOOD news ..but lets not ignore the BAD news ..
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