Singapore Luxury Condo's Early Flop Shows Property Boom's Limits
The W Residences Marina View condominium began pre-sales last Saturday, and buyers booked only two of its 683 units over the weekend, according to people familiar with the matter who asked not to be identified sharing private information. The complex is located in the heart of the country's central business district, a short walk from skyscrapers that house global financial institutions and multinational companies.
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Yahoo
20 minutes ago
- Yahoo
Singapore Pools Toto sees 1 winning ticket land $1.3m jackpot for 4 Aug
SINGAPORE — The latest Toto draw on 4 Aug delivered big for one lucky winning ticket which pocketed $1,343,651 as the sole Group 1 winner for the jackpot. The winning numbers on Monday evening were 30, 32, 40, 43, 45 and 49, while the additional number drawn was 5. According to Singapore Pools, the Group 1 winning ticket was bought at the Singapore Pools Hougang N1 Branch located at Block 106 Hougang Avenue 1, #01-1209/1211. It was a System 7 Entry ticket. There were no winning tickets for the Group 2 prize so the prize money of $282,873 will be snowballed to the next draw. The previous Toto draw on Thursday evening (31 July) saw one of the largest Toto payouts for a single ticket as one lucky winner walked away with the $12.8 million jackpot. In October 2023, a record $13,077,918 was won from a single ticket. The figure was surpassed in May 2024 when $13,123,509 was awarded to a sole Group 1 winner. What is Toto? Toto was launched in 1968 as the first lottery game in the history of Singapore Pools. The game got its name from a combination of the words 'Totalisator' and 'Lotto'. The current format of Toto sees six winning numbers and one additional number drawn from 49 numbers (1 to 49) every Monday and Thursday. The jackpot sum begins from $1,000,000. A snowballing feature, which allows for the prize to increase if there are no winners, was introduced to the game in 1981. The System Entry option, where you can pay to be able to pick more numbers, was added later that year. What is the prize structure for Toto? Singapore Pools says that 54% of sales in each draw are added to the Toto prize pool. Your winnings from the pool is dependent on which prize group you land in after the draw reveals the winning numbers. Prize group Matching numbers Prize Group 1 (Jackpot) 6 winning numbers 38% of prize pool (Minimum guarantee of $1,000,000) Group 2 5 winning numbers + additional number 8% of prize pool Group 3 5 winning numbers 5.5% of prize pool Group 4 4 winning numbers + additional number 3% of prize pool Group 5 4 winning numbers $50 Group 6 3 winning numbers+ additional number $25 Group 7 3 winning numbers $10 What are the odds of winning Toto? The odds of winning the Toto jackpot (6 winning numbers) are one in almost 14 million, according to Singapore Pools. Prize group Matching numbers Odds of winning Group 1 6 winning numbers 1 in 13,983,816 Group 2 5 winning numbers+ additional number 1 in 2,330,636 Group 3 5 winning numbers 1 in 55,491 Group 4 4 winning numbers+ additional number 1 in 22,197 These figures are available on the Singapore Pools website. How do I calculate my Toto prize? Singapore Pools has a prize calculator for Toto which you can find here. How big can the Toto prize snowball to? The Group 1 prize amount will not snowball beyond the fourth consecutive draw. If there is no Group 1 winner at the end of four consecutive draws, the final jackpot amount (38% of the fourth draw's prize pool plus snowballed amount from the three preceding draws) cascades, i.e. it will be paid to the next prize group with winner(s) and shared equally. Prize amounts for Group 2, 3, and 4 will snowball until it is won. What are the largest jackpot prizes and winning shares in Toto history? Statistics from Singapore Pools includes lottery draws from 9 October 2014 onwards when Toto was updated to the current 6-out-of-49 format. According to their data, the biggest jackpot prize was $19,416,913 which was drawn on 11 February, 2022. The $19.4 million jackpot had eight winning shares which means the winning share amount worked out to over $2.4m each. It was a nice sum but nowhere close to the biggest winning shares in Toto history which came in at over $13m on two separate occasions. This happened first on 2 Oct in 2023 when a single winning share took home $13,077,918. In May last year, another lucky individual had the sole winning share of a very cool $13,123,509 jackpot. Help is available If you are facing stress due to gambling problems, the National Problem Gambling Helpline & Webchat are available daily from 8am to 11pm. Call 1800-6-668-668 or visit for support.
Yahoo
20 minutes ago
- Yahoo
Tycoon who helped bring F1 to Singapore pleads guilty in rare graft case
Property tycoon Ong Beng Seng pleaded guilty to one charge of abetting the obstruction of justice on Monday in part of a landmark case that led to the jailing of former transport minister S. Iswaran for obtaining valuable items as a public servant last year. However, both the prosecution and defence agreed to grant Ong judicial mercy given his chronic illness, and argued for him to be fined in lieu of imprisonment. He will be sentenced on Aug 15. A second charge of abetting an offence was also taken into consideration. Judicial mercy gives courts the authority to give a more lenient sentence in exceptional mitigating circumstances, such as a terminal illness or when imprisonment could pose a high risk of endangering a life. The defence submitted that Ong suffers from multiple myeloma, an incurable cancer that affects his blood plasma cells and renders him immuno-compromised. The case has been the subject of major intrigue in Singapore, a wealthy financial hub that offers ministers salaries of more than S$1 million ($775,000) to deter graft and prides itself on its reputation for clean governance. Ong had informed Iswaran that his associates had been questioned and a private flight manifest with Iswaran's name on it for a flight from Singapore to Doha had been seized by the corruption watchdog during investigations. This led Iswaran to ask Ong to issue an invoice through Singapore GP, promoter of the Singapore F1 Grand Prix, to bill him for the trip, which prosecutors say Iswaran knew would make it less likely that he would be investigated. Iswaran was sentenced to 12 months in prison in October 2024, the first time a former cabinet member had ever been jailed in Singapore, on charges of obstructing justice and receiving more than $300,000 worth of gifts. In February, Iswaran was put under house arrest for the remainder of his sentence. Ong gave Iswaran tickets to English Premier League soccer matches, the Singapore Formula 1 Grand Prix, London musicals and a ride on a private jet among other favours. Iswaran was an adviser to the Singapore Grand Prix's steering committee, while Ong, 79, owns the rights to the race. The billionaire stepped down as managing director of Singapore-listed Hotel Properties in April.
Bloomberg
23 minutes ago
- Bloomberg
Singapore's Largest REIT Buys Out Office Tower for $815 Million
Singapore's largest real estate investment trust is buying the rest of a prime office tower that houses the likes of JPMorgan Chase & Co., for S$1.05 billion ($815 million). CapitaLand Integrated Commercial Trust, which already owns 45% of the commercial component of the CapitaSpring building, agreed with the private development arm of CapitaLand Group and Mitsubishi Estate Co. to buy out their respective 45% and 10% interests, according to exchange filings Tuesday. Both the REIT and CapitaLand Development are backed by Singapore state investor Temasek Holdings Pte.
