News

The construction unit of United Fiber System (Unifiber) won the contract from Guocoland Group for a 12-storey condominium development project.

The life insurance unit of Singapore’s second-largest lender by market value will be purchased by Prudential Plc for S$428 million ($306 million).

Visitor arrivals to Singapore are set to increase in 2010, but the hotel operating environment will remain challenging.

The Housing and Development Board launched its two new BTO projects Choa Chu Kang and Buangkok Vale yesterday.

The first part, specifically four hotels, of Genting Singapore's casino resort will be open on 20 January 2010, three months ahead of its rival's target.

Resorts World Sentosa will begin its opening in phases from that date, starting first with the opening of its four hotels.

Singapore’s GDP contraction of 6.8 per cent in Q4 of 2009 is largely due to a 38.4% plunge in the manufacturing sector.

This is the first time the airline will own its own aircraft instead of leasing, which will allow it to drop operating costs and offer even lower airfares.

Boustead Singapore Limited has announced its engineering division has secured S$68 million in contracts from the oil & gas industries globally.

Singapore's gross domestic product contracted 6.8 percent after reaching 14.9 percent for the period of July to September 2009.

Private residential prices rose by 7.3% to from 154.3 pointsto 165.5 points in the 4th Quarter 2009, according to figures released by the Urban Redevelopment Authority.

By March this year, all ships registered with Singapore and entering into Singapore will be banned from using harmful anti-fouling paints on their hulls.

Singapore’s gross expenditure on R&D has reached a record high of S$7.13 billion in 2008. This amount is 2.77% of Singapore’s GDP, according to figures from the Agency for Science, Technology and Research, and is a 12.4% increase from the gross expenditure on R&D (GERD) of S$6.33 billion in 2007.

Merry Christmas!

The Monetary Authority of Singapore announced today that it is reviewing two sets of measures to strengthen the protection of insurance policy owners.

Industrial real estate firm Boustead Projects has been awarded a S$107 million contract to design and build a manufacturing and support facility for one of the world’s leading power systems corporations.