from the ground Up

Spike in building material prices, labour crunch pushing renovation costs up by 20% this year

PLANNING to renovate your home? If so, be prepared to pay 20 per cent more.
Construction costs – for both big projects and home renovations – have risen due to a rise in raw material prices and labour costs. And they are expected to increase even more this year.

SOUTH-EAST Asia’s growing dependency on oil means it is now a net importer of crude oil rather than a net exporter, as it has been for many years.

This brings a series of new challenges to the region, such as achieving energy security and diversifying energy sources, said a leading oil and gas analyst at Credit Suisse yesterday.

Source: The Straits Times, Mar 13 2008

2 out of 3 operational plants here have stopped production, but some firms remain optimistic
LESS than three years since Singapore identified biofuels as one of the new growth areas and opened its first biodiesel plant to much fanfare, the fledgling industry has fallen victim to soaring palm oil prices.
Of [...]

THE emergence of a new scam by HDB flat sellers has prompted calls by some MPs for a review of loan rules for flat downgrading.
Housing agents say sellers who resort to the so-called “magic dollars” scam often face financial difficulties and may be having a hard time in downgrading to cheaper flats.
Some MPs noted that greater flexibility in downgrading rules could help these people.

The Urban Redevelopment Authority (URA) said yesterday that it will market a major site in this “new growth area” at a renowned annual global property event in Cannes, from today till Friday.
The 2.74ha site for office, hotel and other uses could fetch up to $1.4 billion, a property analyst estimates.

by Jessica Cheam
ON A small new research farm in Singapore’s rural district, the seeds of a so-called wonder plant, jatropha curcas, have just taken root.
The sprouting of these hardy plants – touted as the “fuel of the future” – could mark a new chapter for Singapore’s fledgling biofuels industry.
Scientists in Singapore hope to develop a [...]

A NEW scam involving HDB flats has surfaced, this time allowing flat sellers to pocket extra cash by craftily getting around the rules.
The so-called “magic dollars” scam involves reporting a falsely low sale price to the HDB – an offence which is punishable by a jail term and/or a fine.

SINGAPORE is hotting up as a centre for global solar industry players.
The latest company to join the burgeoning sunrise industry in the Republic is Norwegian solar wafer manufacturer NorSun.
The private firm yesterday announced that it will build its biggest solar wafer manufacturing plant in Singapore at a cost of US$300 million (S$419 million).
The 30,000 sq m facility in Jurong will employ 300 professionals – mostly local.