Golden Period?! Donch Make Us Laugh Lah, OLD FART!

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Feb 9, 2009
</TR><!-- headline one : start --><TR>Office demand plunges <!--10 min-->
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>




<!-- START OF : div id="storytext"-->CAPITALAND Ltd, South-east Asia's largest property developer, said demand for Singapore office space plummeted last year as the global financial crisis knocked the city-state into recession.
'There was a big surge in demand for offices 10 or 11 months ago ... but it suddenly stops and falls off a cliff,' CapitaLand Chief Executive Liew Mun Leong said at a news conference. 'We know the market is softening and volume has gone down, and prices will be softening.'
The company's fourth quarter profit fell 88 per cent to $78 million from $675 million a year earlier, Mr Liew said. CapitaLand also plans to raise $1.84 billion by selling one new share for every two held by investors.
Singapore's real estate market is reeling from a deep recession and job losses in the financial industry, which helps support demand for the country's most expensive residential and commercial property. The economy contracted 17 per cent in the fourth quarter from the previous quarter.
Property prices rocketed between 2005 and 2007, luring some investors looking for a quick buck with speculative purchases.
Private home prices surged 31 per cent in 2007 as the economy expanded 7.7 per cent.
Last year, prices fell 4.7 per cent and economic growth slowed to 1.2 per cent. The government expects gross domestic product to shrink as much as 5 per cent this year.
'This was a classic property market bubble,' said Mr Tim Murphy, managing director of Hong Kong-based property investment company IP Global. 'By the end, you had taxi drivers trying to double their money in 10 minutes. That only leads to one thing - a crash.'
The government said last month that prices of private residential property dropped 6.1 per cent in the fourth quarter from the previous quarter, their steepest fall in a decade, and office rentals fell 6.5 per cent.
High-end residential and commercial property will likely fall between 15 per cent and 20 per cent in the first half and remain flat in the second as a deepening global economic slowdown undermines consumer confidence, Mr Murphy said.
'With the data that's coming out, I can't see anyone in Singapore who reads a newspaper being confident enough to buy real estate,' he said. 'People have been too frightened.' Mr Liew declined to say how much he expected property prices to fall this year. -- AP

 

[commoner]

Make so little profit only,,,,,,,,

like that can enjoy job credits right?

 

[DerekLeung]

Government have been taxing and taxing during good times !
But provided no value whatsoever to either parties they tax or the community.

Their civil-servants keep expanding.
As you know civil-servants are increasing by the buckets !
They are not very competitive.

So essentially, the job credits are benefiting the redundant companies that should disolve with all the rules and laws in place.
Instead government is diluting our money economy with companies bailout instead of giving money directly into citizens hands to encourage spending.

So you should know the value of your money in a few years time depending on how much they spend on companies !

 

[DerekLeung]

Remember PAP what you are paying people these days !
They do not have enough to bring up a family or to retire !
You are asking people to spend.

I guess they should keep as much Singapore currency in order to deflate the S$ currency since it is not enough basically for anything !

So the direction is house and cars !
Other's will have to wait like goods and services !
This is a sure way to head south ! Everyone hold and not spend !

I am sure they may come up with new policies. Like we do not like the GST system ! We hold as long as 30 years ! What will you choose next ?

 

[jumpmrt]

:(:(:(:(still can laugh? or cry? :(:(:(

 

[DerekLeung]

Next you will come up with is compulsory Eldersave .

 

[myo539]

There was a time when people said that Singapore could not make it, but it did. The same soothsayer is still alive and kicking and predicting doom for Singapore. Singapore not only survived - but turned into one of the most developed nations in Asia, comparable to that of the Europeans. In fact, it was a golden era under the PAP government. In the current sea of gloom, Singapore did not seem as gloom as other nations. Even the richest nations share their era of gloom - Singapore is not alone. Anyone who thinks that Singapore alone is suffering must have his head examined.

Singapore will again prove these doomsayers wrong by returning even stronger in the second golden period.

These people are just hoping that Singapore cannot make it. If these are Singaporeans, I think it is only right they should join the rank of the quitters - provided there are some third country willing to accept them. And they should thank the PAP for giving them that value to be acceptable. Lesser government would have turned these people into Rohingyas - to be tossed into the open sea and left to flounder.

 

[funglung]

taxpayers are paying more than millions...

where has our 400 billions gone?

No way any government or regime make that kind of money.

THAT 400 BILLIONS WERE MADE BY SINKIES, AND TAKEN FROM SINKIES BY STINKING LKY AND USED BY LKY TO PRETEND HE IS AN ECONOMIC GIANT WHEN HE IS IN FACT A FUCKING ECONOMIC DWARF.

THEN SINKIES ARE TOLD NOTHING FOR FREE WHEN LKY AND HIS PAP BASTARDS TOOK IN 400 BILLIONS TO PLAY WITH AND FRENCH COOKING COURSES ARE NOTHING AT ALL TO THEM

SINGKIES !

FIND YOUR BALLS AND KICK OUT LKY AND PAP BASTARDS.

THAT 400 BILLIONS ARE YOURS AND YOURS ALONE

NOT TEMASICK OR GEE I SEE TO FUCK ABOUT WITH