• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

Everyone Closing Shop in Singapore?

Pinkieslut

Alfrescian
Loyal
More industrial properties sitting empty as large manufacturers exit

Companies can't cope with subletting rules.

The number of vacant industrial properties is expected to rise in coming quarters as more multinational manufacturers relocate or consolidate their operations in a single location, according to a report by CBRE.

Among the manufacturers which have chosen to shut down operations in Singapore over the past year are Teijin, Tate & Lyle and KTL Global. Teijin closed its plant in Jurong Island after losing out to low-cost Chinese rivals, while Tate & Lyle closed its sucralose plant to consolidate in a plant in Alabama. KTL Global chose to relocate to Johor.

CBRE noted that this number is likely to rise as more end-users who are unable to comply with the 70-30 sublet rule move out of their facilities. This, in turn, will lead to an increase in saleable assets.

However, buyers will be in short supply given the challenging rental market and government anti-speculative measures.

In Q1 2016, the preliminary tally of industrial investment sales as tracked by CBRE Research stood at approximately S$131.72 mil, reflecting an 82.4 per cent quarter-on-quarter or 75.4 per cent year-on-year decline.
- See more at: http://sbr.com.sg/commercial-proper...large-manufacturers-exit#sthash.MiGSUYum.dpuf
 

halsey02

Alfrescian (Inf)
Asset
Join PA & PAP.........to steal a line form 7-11 advertisement years ago...." Always CLOSE, never CLOSED".....
 

bushtucker

Alfrescian (Inf)
Asset
look at orchard road retail stores... basically empty and deserted most of the time... losing out to online e-commerce platforms like amazon, taobao, etc.
 

songsongjurong

Alfrescian
Loyal
grim outlook


Mr Effendy Mohd Shariff has seen numerous workers laid off in his 24 years as a union leader, but he never thought he would have to handle his own retrenchment. He is about to.

The 50-year-old senior technician was told in March by Panasonic Industrial Devices Materials Singapore - where he has worked more than half his life - that it was shutting down next year.

Some 77 workers here, from production operators to management staff, will lose their jobs when production work for its chemical moulding materials moves to China and Thailand. Mr Effendy, who is the president of the Chemical Industries Employees Union, has to keep his personal worries in check while he helps his union members cope with the looming retrenchment
 
Last edited:

halsey02

Alfrescian (Inf)
Asset
Effendi had been busy "working" for the union for 24 years, he was lucky that, his company had not sacked him years ago..whereas many had already being laid off since 1984.....it is time that Effendi.....work for his living...while most of his comrades were earning their for 24 years...
 

eatshitndie

Alfrescian (Inf)
Asset
tate and lyle deserves to lose its sucralose plant in sg as sucralose is a loser sweetener (no pun intended) as a sugar substitute and is losing market share to stevia (from a plant in south america) which is naturally produced and has much less health concerns compared to artificial sweeteners.
 
Last edited:

GoldenDragon

Alfrescian (Inf)
Asset
grim outlook


Mr Effendy Mohd Shariff has seen numerous workers laid off in his 24 years as a union leader, but he never thought he would have to handle his own retrenchment. He is about to.

The 50-year-old senior technician was told in March by Panasonic Industrial Devices Materials Singapore - where he has worked more than half his life - that it was shutting down next year.

Some 77 workers here, from production operators to management staff, will lose their jobs when production work for its chemical moulding materials moves to China and Thailand. Mr Effendy, who is the president of the Chemical Industries Employees Union, has to keep his personal worries in check while he helps his union members cope with the looming retrenchment

don't rule out ah mu finding this chap a job over the next 2-3 days and then the assistance rendered will be splash across the newspapers.
 

halsey02

Alfrescian (Inf)
Asset
Apple used to have a manufacturing plant in Spore but they moved out a Long time ago.

The factory is being used by their sales & marketing people.

It is still along Yio Chu Kang Road, there were some products of APPLE that were made in Singapore. Do they still have their R&D facility there?....manufacturing is dead in StinkerCORE....
 

Pinkieslut

Alfrescian
Loyal
It is still along Yio Chu Kang Road, there were some products of APPLE that were made in Singapore. Do they still have their R&D facility there?....manufacturing is dead in StinkerCORE....


Not only manufacturing but even the business jobs are gone. Just ask around and you will know most of the sales/marketing jobs at MNCs (including Apple) which are regional in Singapore (market is too small) are mostly Angmo and Ah Neh.
 

Pinkieslut

Alfrescian
Loyal
Foreign investors shun Singapore commercial property as tenant demand hits record low
COMMERCIAL PROPERTY | Staff Reporter, Singapore

Capital values will deteriorate further.

Investment enquiries from potential foreign buyers of commercial properties fell for the third consecutive quarter in Q1, according to data compiled by the Royal Institution of Chartered Surveyors (RICS).

The report by RICS also showed that tenant demand for commercial property has fallen at its fastest pace in Q1 2016 since the depths of the financial crisis in 2009.

The sharp decline in occupier demand has taken its toll on investment activity, as foreign buyers increasingly look beyond Singapore for better returns.

The survey showed that majority or 64% of surveyors expect rents to fall further over in the next quarter, and 65% expect the downward trend to continue into next year. Over the next twelve months, respondents expect rental values to fall by 5.8%, with all sectors forecast to see a substantial decline.

In response with a sharp decline in demand, landlords have increased rent-free periods to incentivize tenants to sign leases. Meanwhile, developers are putting the brakes on development projects, particularly for retail and industrial properties. In the office sector, only 20% of respondents reported an increase in project starts.

Against a weakening economy, the Q1 2016 RICS Global Cities Commercial Property Monitor showed that contracting demand from both occupiers and investors has led chartered surveyors to anticipate a further drop in capital values and rents over the coming year. Despite this, survey respondents were reluctant to describe local real estate as affordable or reflecting true value.

“The softening Singapore commercial market reflects, in part, some of the ongoing macroeconomic challenges facing the country and the wider Asia Pacific region. In the immediate future, Singapore property professionals remain pessimistic about the market rebounding. Ongoing cooling measures, compounded with rising interest rates, suggest that improvements, if any, are likely to be both slow and small,” said RICS ASEAN Director Dexter See.
 

johnny333

Alfrescian (Inf)
Asset
It is still along Yio Chu Kang Road, there were some products of APPLE that were made in Singapore. Do they still have their R&D facility there?....manufacturing is dead in StinkerCORE....

The R&d was being done at the annex building, next door to the factory. The annex was sold off to NCS when Apple started to withdraw from Spore.
 

johnny333

Alfrescian (Inf)
Asset
Not only manufacturing but even the business jobs are gone. Just ask around and you will know most of the sales/marketing jobs at MNCs (including Apple) which are regional in Singapore (market is too small) are mostly Angmo and Ah Neh.


The Apple factory used to be run by a Sporean. Then things started to change when the PAP made it easier for foreigners to work in Spore.
 

halsey02

Alfrescian (Inf)
Asset
The R&d was being done at the annex building, next door to the factory. The annex was sold off to NCS when Apple started to withdraw from Spore.

I recalled something like, that was an Apple product that was R&D at Apple here & sold worldwide..forgot what it was...not the Newton ? or was it the early iPod? or a CD Player..something like that.
 

halsey02

Alfrescian (Inf)
Asset
Not only manufacturing but even the business jobs are gone. Just ask around and you will know most of the sales/marketing jobs at MNCs (including Apple) which are regional in Singapore (market is too small) are mostly Angmo and Ah Neh.

We used to be the "hinterland" of South East Asia....I remember an old established "ESTABLISHMENT" ( name I don't want to mention) I used to work for a long time....we were the training center for countries, nearest to us, Brunei, Indonesia, Pacific Islands like Nauru, Fiji, PNG etc.., Malaysia, Thailand, not yet Vietnam, at that time starting...India, Nepal....Sri Lanka, Maldives, Seychelles, even Japan & Korea....I used to have staff of these countries training in the office...especially the Japanese & Thai ones...Malaysians & Bruneians...

Some 20 years ago...I no longer worked there...I was told that, we longer train staff from overseas anymore....our training center, in which we boast & was proud of..had moved to Kuala Lumpur, Malaysia.....education wise they had caught up, infrastructure they had caught up & the most important of it all - IT WAS CHEAPLY TO TRAIN PEOPLE IN KL...MALAYSIA.

So, the "core" of Stinkercoreans rotted away....initially a few Stinkerporeans was seconded to KL..Thailand, Brunei etc....but that rotted away & was replaced, by cheaper, faster, but not necessarily better.....Indonesians, Ah nehs & Filipinos.....

So, the CORE became razor thin....I know about sales of MNC's etc...this is not new either, back in 1995...many of the MNC's I happened to work for....have 99% Foreigners in Sales....Admin & even Accounts..but Accounts, they will deny that they are foreigners....99% are Malaysians & 1% Malaysians PR.....this was just staring the invasion of the Ah nehs, Filipinos & PRC...they were 'creeping up' the horizon...
 
Top