Tag Archives: General

Worst is over for Singapore’s economy

Posted on 17 Aug 2009 | Comments Off on Worst is over for Singapore’s economy

THE worst is over for the Singapore economy and the labour market has stabilised, Prime Minister Lee Hsien Loong said as he sounded a note of cautious optimism last night.

Although the third quarter should be all right, the outlook beyond it is still unclear, he said, adding: ‘No signs of Christmas orders pouring in yet.’

However, Singapore is well-poised to pick up strongly again because of its comprehensive and decisive response to the downturn, Mr Lee said.

Although the economy contracted 6.5 per cent in the first half of the year, it was not as bad as feared, he noted.

‘The eye of the storm has passed,’ he said.

Latest figures show that the economy grew 20.7 per cent in the second quarter over the first quarter, the first positive quarter after four Continue reading →

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Posted in Property Market / Real Estate

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Difference between managing private and public flats

Posted on 13 Aug 2009 | Comments Off on Difference between managing private and public flats

I REFER to Monday’s commentary, ‘En bloc debate, HK style’. Our laws are sufficient to run our private estates. In most management corporations (MCs), lobbying for support is prevalent where most members are inactive. Therefore, the estate is run by a minority, who are unpaid volunteers.

It is therefore natural that the active members will run the estate in their own interests. However, the law lays down strict requirements to document support obtained by lobbying, to ensure such lobbying is valid. This is laid down clearly in the First Schedule of the Building Maintenance and Strata Management Act.

This brings me to a point about the powers the management council has under the law, to compel dissenting owners to comply with the house rules of the MCs.

An application to the Strata Titles Board for an order is not costly. As long as a house rule is properly enacted, and owners are given ample notice of the Continue reading →

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Posted in General

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