Daily Archives: 11 Mar 2010

Grand Park Orchard to open in July

Posted on 11 Mar 2010 | Comments Off on Grand Park Orchard to open in July

Grand Park Orchard – formerly known as Park Hotel Orchard – will be opening its doors in July after an $80 million makeover.

Five-star luxury: The 308-room hotel is Park Hotel Group’s flagship property; room rates are expected to be around $350 per night

The five-star 308-room hotel at Orchard Road is Park Hotel Group’s flagship property. Room rates are expected to be around $350 per night.

Grand Park Orchard will bring more sparkle to the shopping belt with an eight-storey-tall media wall. It will also add to food and beverage establishments in the area, with all-day restaurant Open House serving pizzas, dim sum, sandwiches, claypot dishes and roast meat; the Champagne Bar serving Veuve Clicquot cocktails; and the Onyx Bar.

Shoppers can also look forward to the opening of Grand Park Orchard’s four-storey retail podium, Knightsbridge.

Park Hotel Group has positioned Knightsbridge as a space for luxury brands, and it will soon reveal the names taking residence.

It said that it has secured pre-commitments for more than 50 per cent of the space so far.

Park Hotel Group director Allen Law said that Grand Park Orchard ‘represents the aspirations of the group as we scale the heights to be the leading hospitality chain in the Asia-Pacific’.

The hotel owner, developer and manager has eight properties across three countries. These include Park Hotel Clarke Quay and Grand Park City Hall in Singapore.

Source : Business Times – 11 Mar 2010

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Religious groups’ commercial deals and tax question

Posted on 11 Mar 2010 | Comments Off on Religious groups’ commercial deals and tax question

I REFER to Sunday’s report, ‘City Harvest paying $310m to become Suntec co-owner’.

While it is City Harvest Church’s right to decide how it spends its money, there are related issues which the Government should address.

Religious organisations are registered charities. Therefore, contributions and income are non-taxable.

However, with more and more religious organisations venturing into business and owning commercial properties, is their tax-exempt status still relevant?

Should the Government continue to let religious organisations own commercial properties and earn income from rent? After all, the revenue these organisations use for the purchase is tax-exempt in the first place.

Suntec City was developed for commercial purposes. With the church’s purchase of the development and its proposal to convert a section of the exhibition space for church use, is it in breach of the Urban Redevelopment Authority’s land-use policy?

For years, New Creation Church has rented space in Suntec for church services on a commercial basis. However, now that City Harvest owns the space, and wants to convert some part of it into the church’s auditorium, is it legal?

Besides Suntec, this issue is also a concern with the new civic and cultural centre at one-north, which is co-owned by New Creation Church.

Land sales for religious purposes by the Government are on a 30-year lease. With some religious organisations acquiring land earmarked for other uses, with much longer leases, and using it for their religious purposes, is it fair to other religious organisations which must tender for 30-year lease land?

Religious organisations obtain their funding from their congregations. However, some religious organisations, such as New Creation, and now City Harvest, own commercial properties which generate income for them.

Lester Lam

Source : Straits Times – 11 Mar 2010

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Posted in Office / Retail / Industrial

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