from the ground Up

by Jessica Cheam, The Straits Times, Mar 28 2009
After astonishing growth, overall value of units plunges 60 per cent
SINGAPORE real estate investment trusts (Reits) are facing their worst crisis since they entered the market eight years ago and became wildly popular.
Property experts are confident Reits here, known collectively as S-Reits, will survive the global economic [...]

by Jessica Cheam, The Straits Times, Mar 27 2009
Units are smaller and cheaper due to design and location
The Housing Board (HDB) yesterday launched its first batch of new Punggol flats for the year.
Units are priced at 10 to 16 per cent below the launch of Punggol Regalia in December, primarily due to location and design [...]

by Jessica Cheam, The Straits Times, Mar 26 2009
Public-sector spending a shot in the arm for the construction industry
A WAVE of construction is set to begin on new public buildings as the Government steps up infrastructure spending amid the recession.
Analysts say the public projects will help prop up the construction sector for the next year [...]

by Jessica Cheam, The Straits Times, Mar 25 2009
The aim is to strengthen enforcement framework and raise overall professional standards
FRESH details emerged in Parliament yesterday of a review that is now under way, which is aimed at regulating Singapore’s housing agents more effectively.
The review follows a high-profile court case which highlighted the problem of unscrupulous [...]

About a month after my report on Clean Energy, I came across this Guardian story: “Shell dumps wind, solar and hydro power in favour of biofuels”.

Have to admit it was disappointing to read it, since in my report it was clear that Shell was one of the few oil giants with a comprehensive renewable energy portfolio.

From a business perspective, it shouldn’t surprise that the oil giant has chosen to focus on biofuels since it complements their core business model and capabilities. However, if the richest energy companies in the world are themselves reluctant to fund investments and research into renewables, then the economic viability of such energy sources will be even further out of reach for humanity. Once again, it’s the chicken and egg question.

Shell, as a business, has to answer to its shareholders and justify whatever investments they make. So perhaps it’s left to investors to make their positions clear that they do not mind a slightly lower dividend at the moment, so it could translate into a much larger one when renewables take off in a big way and Shell becomes the market leader.

As it is, it appears that kind of investor’s foresight is lacking. And although focusing on biofuels is not “wrong” as it is a form of renewable energy, it is quite arguably the least efficient and most controversial of the renewable sources. Also, it does nothing to revolutionize the world’s transport system, save for finding another source to fuel combustion engine cars.

That there is a renaissance of the electric vehicle is extremely interesting in these times. Remains to be seen if the powerful energy lobby can once again kill it. But imagine the electric vehicle taking off in urban cities around the world, cars won’t even need biofuels then. What would companies like Shell do then?

by Jessica Cheam, The Straits Times, Mar 24 2009
‘Highways’ of growth will help prepare for recovery: Grace Fu
SINGAPORE will seize the opportunity in this downturn to build its own “highways” of growth by investing heavily in infrastructure, said Senior Minister of State for National Development Grace Fu yesterday.
The Government will invest $18billion to $20 billion [...]

by Jessica Cheam, The Straits Times, Mar 21 2009
Trading volumes down, companies polluting less
THE tough economic environment is set to put a spanner in the works for Singapore’s ambition to be Asia’s carbon trading hub.
Carbon experts in Singapore said this week the price of carbon – now trading around 10 to 12 euros per tonne [...]

by Jessica Cheam, The Straits Times, Mar 21 2009
Madison joins others in weakening market that have been put on hold
PROPERTY developer Keppel Land (KepLand) yesterday announced that it will defer the construction of its 56-unit development, Madison Residences, because of weak market conditions.
The project has not been launched.
Luxury condos such as the Madison have fallen [...]

by Jessica Cheam, The Straits Times, Mar 20 2009
Directors told to keep an eye on weaknesses, inform shareholders promptly
AN INCREASE in the number of corporate scandals here prompted the Singapore Exchange (SGX) to issue a strongly worded heads-up to bosses last night.
The SGX told directors to stay alert, keep an eye on any areas of [...]

by Jessica Cheam, Mar 18 2009
Shipping giant failed to quash market rumours over rights issue: SGX
SHIPPING giant Neptune Orient Lines (NOL) has been rapped by the Singapore Exchange (SGX) after failing to make timely announcements to quash market rumours over a rights issue.
NOL had breached listing rules by failing to “sufficiently clarify or deny market [...]