logo
First BTO project in Sembawang North to be offered in July launch

First BTO project in Sembawang North to be offered in July launch

Straits Times13 hours ago
Sign up now: Get ST's newsletters delivered to your inbox
The Sembawang Beacon project has a waiting time of three years.
SINGAPORE – Some 775 Build-To-Order (BTO) flats in Sembawang North will go on sale in July, making it the first project to be launched in the new housing estate.
Two-room flexi, three-, four- and five-room flats, as well as three-generation units, will be on offer at the Sembawang Beacon project, which has a waiting time of three years, the Housing Board said on July 6.
Bounded by Admiralty Link, Admiralty Lane and Canberra Road, the project will be near amenities such as a neighbourhood park, Sembawang MRT station and Sembawang Mart, which has a supermarket, foodcourt and shops.
The design of Sembawang Beacon was inspired by the area's maritime heritage, HDB said, noting that the northern town was once home to the British Naval Base in the 1920s, where naval officers would reside in black-and-white houses.
The facade of the blocks will have bold black frames, reminiscent of the colonial homes, it added. A playground in the development will also feature nautical motifs and a lighthouse play structure.
The project will have green spaces such as a roof garden and an open lawn. HDB said plants of historical and traditional significance, including the Sembawang tree (Kayea ferruginea), will be planted in common areas to 'capture the spirit of old Singapore'.
HDB said new amenities such as a neighbourhood centre, a 1ha park with playgrounds and fitness stations, as well as more cycling paths and walkways, are in the pipeline.
Top stories
Swipe. Select. Stay informed.
Singapore TTSH to demolish century-old pavilion wards, keeping one as heritage marker
World 'Formed to give you back your freedom': Elon Musk says he has created a new US political party
Asia HIV surge in the Philippines amid poor sex education, policy gaps
Singapore Don't view your first property as a dream home, get a foothold in the market instead: PropNex's Ismail Gafoor
Singapore How soya sauce could help treat cancer
Tech Graduates are not screwed if they study engineering: James Dyson in response to Economist article
Business When a foreign wife failed to turn up for a $10m divorce
Sembawang North, which will span 53ha , will have about 8,000 BTO flats and 2,000 private homes when completed.
Analysts previously said the Sembawang BTO project should fall under the Standard category, as it is not near major transport nodes.
Standard flats, which come with a five-year minimum occupation period (MOP), form the bulk of flat supply.
Plus and Prime flats, which are closer to the city centre, transport nodes and amenities, come with stricter resale conditions, such as a 10-year MOP and a subsidy clawback.
A total of 5,500 BTO flats will be offered in the July sales exercise, with the other projects in Bukit Merah, Bukit Panjang, Clementi, Tampines, Toa Payoh and Woodlands.
About 3,000 balance flats in varying stages of completion will also be put up for sale. HDB did not reveal the launch date.
Property analysts said
they expect strong demand for many of the BTO projects , particularly those that are close to amenities and MRT stations. Of the eight projects, five are situated within 600m of an MRT station.
The July launch will also include the first flats in Simei – which HDB classifies as part of Tampines – in more than a decade. The project will have about 380 units of two-room flexi, four- and five-room flats on a plot bounded by Simei Road and Upper Changi Road East.
The site is a five-minute walk from Upper Changi MRT station. Singapore University of Technology and Design, Singapore Expo and Changi Business Park are in the vicinity.
The second development in the new Woodlands North Coast precinct, a 1,130-unit project, will also be on offer.
The new precinct is envisioned as a mixed-use waterfront development and will have a total of 4,000 flats when it is completed. The first project in the precinct, Woodlands North Verge, was launched in February.
Some 19,600 BTO flats will be launched in 2025.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Great Eastern says Takeover Code not breached when it shared IFA valuation with OCBC
Great Eastern says Takeover Code not breached when it shared IFA valuation with OCBC

Straits Times

time31 minutes ago

  • Straits Times

Great Eastern says Takeover Code not breached when it shared IFA valuation with OCBC

Great Eastern highlighted that its discussions with OCBC on the exit offer price had already started before the indicative range of values from the IFA was available. SINGAPORE – Great Eastern Holdings said that sharing the indicative range of share values determined by its independent financial adviser (IFA) with OCBC did not breach the Singapore Code on Take-overs and Mergers, or the Takeover Code. This is in response to shareholders' further questions on Great Eastern's practices during its exit offer price negotiation with OCBC , after the insurer issued replies to queries from the Securities Investors Association (Singapore), or Sias, and shareholders on July 3. In a bourse filing on July 5, Great Eastern noted questions on whether sharing the indicative range of the shares' values would amount to 'selective disclosure to some and not all shareholders', and if doing so would invite OCBC to propose a low exit offer price, defeating the IFA's evaluation. It noted that the conduct of the independent directors was also questioned. 'The rule in the Takeover Code requiring information to be made equally available to all shareholders as nearly as possible at the same time and in the same manner has been cited out of context, particularly since OCBC is the offeror in the context of the current exit offer,' said the insurer in the July 5 statement. Great Eastern highlighted that its discussions with OCBC on the exit offer price had already started before the indicative range of values from the IFA was available. The value range was shared with OCBC in strict confidence and on the understanding that any exit offer price arrived at would have to meet the 'fair and reasonable requirement' under Rule 1309 of the Singapore Exchange's listing manual to support the delisting, said the company. It added that sharing the indicative value range with OCBC resulted in the final exit offer price of $30.15 per share, which was an 'improvement' from the range of prices discussed initially. Top stories Swipe. Select. Stay informed. Singapore First BTO project in Sembawang North to be offered in July HDB launch Singapore Woman on SMRT bus 190 injured after bottle thrown at vehicle leaves hole in window Asia 'Don't be seen in India again': Indian nationals pushed into Bangladesh at gunpoint Asia Two women fatally stabbed at bar in Japan by man Business High Court orders Instagram seller to pay Louis Vuitton $200,000 in damages over counterfeit goods Singapore MOH studying 18 proposals to integrate TCM into public healthcare Asia Malaysian commando dies during military diving exercise off Kuantan coast Singapore His world crashed when he got F9 in O-level Tamil but PropNex co-founder Ismail Gafoor beat the odds Prior responses In the responses to shareholders on July 3, Great Eastern explained its role in the price negotiations. It noted that IFA Ernst & Young Corporate Finance was requested to perform an analysis on the indicative offer for its shares and determine an indicative range of share values based on the latest available information, including the embedded value of the group as at end-2024. The insurer shared the indicative value range of $30.10 to $37.63 per share with OCBC and had a further series of exchanges with the offeror, before arriving at the exit offer price of $30.15 per share. It noted that Ernst & Young Corporate Finance was formally appointed as IFA by the independent directors on March 17, 2025. After valuation analysis, the IFA shared the indicative value range with Great Eastern's independent directors in early May 2025. Great Eastern noted that the valuation relied primarily on the embedded value as at end-2024. While it acknowledged that delays in making the exit offer made the figure more than six months old, the embedded value is still the most recent complete data set available. 'Embedded value includes not only the value of new business, but also the sum of the value of in-force business and the value of the adjusted shareholders' funds,' said Great Eastern. It added that the calculation of embedded value requires a comprehensive assessment using full-year data and actuarial assumptions, which is why this figure is formally determined only once a year at the end of each financial year. The insurer highlighted that although its first-quarter financials were strong, the new business embedded value reflects the present value of projected future profits from new business sold in the year, and is not equivalent to embedded value. 'The latest operational metrics from Q1 2025 show that Great Eastern's new business embedded value rose 19 per cent to $148.8 million, while profit attributable to shareholders increased by 13 per cent to $345.5 million,' it noted, adding that updated half-year financials will be released only on July 28, three weeks after its extraordinary general meeting. The company added that while interim results such as new business embedded value and Q1 profit were considered in context, they were unaudited and were not used to reset the embedded valuation in the middle of the financial year. 'The IFA also considered a range of other factors, including market environment, liquidity conditions and historical trading suspension, before concluding that the exit offer was fair and reasonable.' Responding to a question from Sias on whether Great Eastern would be attempting to obtain undertakings from any shareholders to vote for the delisting resolution, the company noted the neutral stance of its board, and said it has not and will not be attempting to do so. Responding to shareholders' question on the impact to the company's capital adequacy if a selective capital reduction at 90 per cent of its latest embedded value is conducted, it noted that a selective capital reduction is not in alignment with its capital deployment plans. 'However, purely for illustrative purposes, if a selective capital reduction was undertaken by Great Eastern at the current exit offer price of $30.15, Great Eastern's common equity Tier 1 capital would be reduced by almost $900 million,' it added. Shareholders also questioned why there was no option for payment in OCBC shares in exchange for the insurer's, so that its original shareholders could also participate in its growth after the exit. Great Eastern noted that the overriding objective of its board was to resolve the current trading suspension of the company and comply with the requirements of the listing manual. 'To fulfil the relevant delisting requirements in the listing manual, the conditional exit offer made by OCBC to support the delisting pathway had to include a cash alternative as the default alternative. Hence, OCBC's support was sought in respect of a cash exit offer.'

Enduring presence of vernacular media like Tamil Murasu in Singapore not by chance: Josephine Teo
Enduring presence of vernacular media like Tamil Murasu in Singapore not by chance: Josephine Teo

Straits Times

timean hour ago

  • Straits Times

Enduring presence of vernacular media like Tamil Murasu in Singapore not by chance: Josephine Teo

Sign up now: Get ST's newsletters delivered to your inbox SINGAPORE - The continuing presence in Singapore of vernacular mainstream media outlets like Tamil Murasu is not by chance, but a result of careful policy design, strong community support and continuous efforts to innovate, said Minister for Digital Development and Information Josephine Teo on July 6. It is also aligned with the city-state's deep commitment to multiculturalism, Mrs Teo said at a dinner to mark Tamil Murasu's 90th anniversary. The Tamil daily, which is published by SPH Media, celebrated the milestone anniversary at the event, which President Tharman Shanmugaratnam attended as guest of honour. In a speech to about 1,000 gathered guests, Mrs Teo noted that Tamil Murasu is one of the oldest Tamil-language newspapers in the world, and one of the few newspapers to have lasted nine decades. Apart from India, Sri Lanka and Malaysia, even countries with large Tamil populations such as Canada, South Africa and Britain do not have Tamil dailies. This is possibly due to distribution challenges, or the largely transient nature of their Tamil communities, she added. Mrs Teo said she was heartened to see Tamil Murasu experimenting with new products and different ways to connect with its audience in an era of technological disruption and shifting consumer preferences. Such efforts included a mobile news app launched in 2023 for readers to get the news on the go, and dialogues with youth to build meaningful connections with the next generation. Top stories Swipe. Select. Stay informed. Singapore First BTO project in Sembawang North to be offered in July HDB launch Singapore Woman on SMRT bus 190 injured after bottle thrown at vehicle leaves hole in window Asia 'Don't be seen in India again': Indian nationals pushed into Bangladesh at gunpoint Asia Two women fatally stabbed at bar in Japan by man Business High Court orders Instagram seller to pay Louis Vuitton $200,000 in damages over counterfeit goods Singapore MOH studying 18 proposals to integrate TCM into public healthcare Asia Malaysian commando dies during military diving exercise off Kuantan coast Singapore His world crashed when he got F9 in O-level Tamil but PropNex co-founder Ismail Gafoor beat the odds Noting that the declining use of mother tongue languages by Singaporeans is a challenge confronting all vernacular media outlets, Mrs Teo said she was glad that Tamil Murasu was sustaining efforts to reach young readers through various formats. These includes the newspaper's new youth brand Elaya Thalaimurai, to be launched later in 2025. '(This) is a good example of what it takes to make Tamil accessible and engaging - not just a school subject, but a living language connected to our identity, culture, and pride,' said Mrs Teo. The Tamil-language daily has made significant contributions in Singapore's journey as a nation, such as when it provided timely health information in Tamil during the Covid-19 pandemic, she noted. 'You also shone a light on the service and sacrifice of unsung heroes in the community, from frontline medical professionals to volunteers and community leaders,' she added, and said this uplifted and united the community. In the earlier decades of nation-building, Tamil Murasu helped the Indian community during Singapore's transition from kampung living to public housing, noted Mrs Teo. 'Through its editorials and stories, Tamil Murasu helped the Indian community see public housing less as displacement and loss, and more as active participation in Singapore's modernisation and progress,' she said. The newspaper also helped to promote understanding and dialogue around Tamil as a mother tongue language during the introduction of the bilingual education policy, which led to increased support for Tamil education and related programmes. Through its editorials and commentaries, it promoted constructive dialogue that informed policy and helped to prevent divisions from deepening, said Mrs Teo. 'Once again, Tamil Murasu played a critical bridging role, by enabling greater understanding of the rationale for the policy, while also giving voice to the community's concerns.' Minister for Digital Development and Information Josephine Teo said Tamil Murasu has made significant contributions in Singapore's journey as a nation. ST PHOTO: MARK CHEONG Tamil Murasu editor T. Raja Segar, who also spoke at the event, reflected on how the newspaper started in 1935 as a weekly newsletter, before it quickly became 'the voice of the Tamil community'. 'It was the bridge to the homeland of many who came here to work and wished to stay connected to what was happening back home,' he recounted. President Tharman Shanmugaratnam (right) with Tamil Murasu editor T. Raja Segar at the dinner marking Tamil Murasu's 90th anniversary on July 6. ST PHOTO : MARK CHEONG The paper has also been 'a companion for many, a teacher in the classroom, a window to the world, the bridge between government and people, a platform for storytellers and poets, and a steadfast beacon for our community', said Mr Raja, who added that it has 'evolved without losing its soul'. Looking forward, Mr Raja said Tamil Murasu will continue to experiment, such as with artificial intelligence tools, to make the newspaper an even better product.

Pandas on Japanese lawmakers' wish list as China's vice-premier plans visit to Osaka World Expo
Pandas on Japanese lawmakers' wish list as China's vice-premier plans visit to Osaka World Expo

Straits Times

time2 hours ago

  • Straits Times

Pandas on Japanese lawmakers' wish list as China's vice-premier plans visit to Osaka World Expo

Sign up now: Get ST's newsletters delivered to your inbox Four pandas had been returned to China from Japan in June. Chinese Vice-Premier He Lifeng plans to visit Japan for a World Exposition event in Osaka on July 11 , with Japanese lawmakers looking to request a new lease of giant pandas to promote bilateral ties, diplomatic sources said on J uly 6 . July 11 marks China's national day at the expo. During Mr He's stay in Japan, he is expected to meet with Mr Hiroshi Moriyama, secretary-general of the ruling Liberal Democratic Party, who leads a cross-party group of China-friendly Japanese lawmakers. Mr Moriyama, a close aide to Prime Minister Shigeru Ishiba, is also likely to call for the resumption of China's imports of Japanese beef, which have been suspended since 2001 due to an outbreak of mad cow disease. In contrast, China in June lifted its ban on Japanese seafood imports . The restriction was imposed in August 2023 after Japan began releasing treated radioactive wastewater from the crippled Fukushima nuclear power plant into the sea. Mr Moriyama's request for the panda lease would come as the return of four pandas to China from Wakayama Prefecture, western Japan, in June left only two in the country – a pair displayed at Tokyo's Ueno Zoo whose lease contract will expire in Februar y 2026 . KYODO NEWS

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store