Surge of MRT faults and incidents in Feb 2015
There appears to be a surge of MRT faults and incidents in Feb last month: (Courtesy of netizen raveneve) In Feb last month alone, there were 8 reported incidents appearing in the news: 2014 Jun - 0 Jul - 5 Aug - 3 Sep - 6 Oct - 2 Nov - 2 Dec - 2 2015 Jan - 3 Feb - 8 The latest incident occurred on Fri evening (27 Feb) on the...
Isetan loses $3.1m as rent surges 20%
Isetan at Westgate mall in Jurong East. Westgate mall is owned by Temasek's CapitaMalls Asia. Isetan Singapore announced in a statement [Link] yesterday (27 Feb) that it incurred a net loss of $3.1 million last year, as rents surged while sales only increased marginally. A year earlier (i.e. 2013), it had made a net profit...
MND cuts DC rates for non-landed residential projects
The Ministry of National Development released a statement yesterday (27 Feb) that it has revised the development charge (DC) rates for developers for the period 1 March 2015 to 31 August 2015. The biggest decrease was seen in the north-eastern region. The DC is a tax that is levied when planning permission is granted to carry...
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