Monthly Archives: November 2009

Upgrading works for Holland and Bukit Panjang unaffected by past investment losses

Posted on 19 Nov 2009 | Comments Off on Upgrading works for Holland and Bukit Panjang unaffected by past investment losses

The Holland-Bukit Panjang Town Council said upgrading works will continue despite huge investment losses reported in 2008.

Over 90 per cent of blocks in the Holland and Bukit Panjang districts have commenced lift upgrading programmes.

The latest financial report showed the town council achieved an accumulated surplus of S$1.81 million.

“Our town council is very prudent in terms of our investment portfolio. So presently, most of our funds are in fixed deposits and government bonds and we shall see how the global situation is, before we make the decision to invest in other forms of investment,” said Dr Teo Ho Pin, chairman, Holland-Bukit Panjang Town Council.

In 2008, the Holland-Bukit Panjang Town Council incurred a huge investment loss in its sinking funds – the heaviest among all the town councils.

Sinking funds were utilised for upgrading works like repainting, roof works, and fixing water tanks.

However, the losses did not end there – some minibond investments are still being processed.

Source : Channel NewsAsia – 19 Nov 2009

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Ho Bee director, family buy 2 units at ‘Parvis’

Posted on 19 Nov 2009 | Comments Off on Ho Bee director, family buy 2 units at ‘Parvis’

Property group, Ho Bee Investment Ltd, on Thursday said its independent director and his family have been granted options to buy two units in the ‘Parvis‘ condominium project at Holland Hill.

Tan Keng Boon, an independent director of Ho Bee, and his wife, Tan Yin See, along with his daughter and son-in-law were granted an additional 2 per cent discount over the normal selling price offered to the public.

Mr Tan and his wife bought a 1,701 sq ft unit on the 9th floor for S$2.554 million.

His daughter and son-in-law got a separate 1,701 sq ft unit on the 8th floor for S$2.546 million.

Source : Business Times – 19 Nov 2009

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Posted in Developers

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