Latest news with #Chng
Straits Times
16-07-2025
- Business
- Straits Times
Subdued business outlook for S'pore SMEs for rest of 2025 amid tariff worries: OCBC poll
The OCBC poll found that 57 per cent of over 1,600 SME business owners expect the outlook for the rest of the year to worsen or remain unchanged. SINGAPORE - Rising supplier prices are a worry for Ms Rosemary Chng, founder of vitamins and health supplements business Elixir Botanica. It's why she expects the business outlook to remain the same, even though her business is currently doing well. 'It's crazy that the suppliers do price adjustments every three months! But I can't do that, as my customers won't like it. This is why it's very critical for survival that I need to increase my customer base if I can't increase prices,' she said. Ms Chng is among owners of Singapore small and medium-sized enterprises (SMEs) who are grappling with global supply chain disruption issues. An OCBC poll found that against the backdrop of the US tariff negotiations, 57 per cent of over 1,600 SME business owners surveyed in the second quarter of 2025 expect the outlook for the rest of the year to worsen or remain unchanged. The remaining 43 per cent of the respondents expect an improvement in the second half of the year, according to findings from OCBC's SME Business Outlook poll released on July 16. The bank also released the latest OCBC SME Index, which provides a barometer of SME business health and performance by looking at the transactional data of over 100,000 OCBC Bank SME customers in Singapore with annual sales turnover of up to $30 million. Top stories Swipe. Select. Stay informed. Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore Strong argument for cockpit video recording, says Iata chief in wake of Air India crash report Asia Former deputy minister seen as surprise front runner for Malaysia's next Chief Justice: Sources Singapore Baby died after mum took abortion pills and gave birth in toilet; coroner records an open verdict Singapore Qantas flight from Singapore to Sydney delayed for days due to mechanical issues Business Tycoon Robert Kuok's daughter Kuok Hui Kwong appointed CEO of Shangri-La Asia Singapore Acute psychiatry services to be expanded across all healthcare clusters: MOH Singapore New network links Home Team psychologists, mental health bodies to boost emergency response In the second quarter of 2025, the SME index improved, showing that the performance of SMEs held up relatively well against challenging economic conditions and a volatile geopolitical landscape. The index was in the expansion range at 50.5, up from 49.9 in the previous quarter. A score of 50 indicates no change relative to the same period from the previous year, while scores above 50 reflect improved business health, and scores below 50 indicate deterioration. Overall collections grew by 5.8 per cent year-on-year, while payments grew by 4.5 percent year-on-year. In the externally oriented sector, wholesale trade, manufacturing, and resources were in expansion with improved performance from the previous quarter. Domestic-facing industries such as food and beverage, business services, and building and construction also supported growth. On the other hand, transport and logistics, education, and information and communications technology lagged growth and were in contraction. Ms Chng, who is a respondent of the OCBC SME Business Outlook poll, said one positive outcome is that rising supplier costs have spurred her to look into manufacturing her own key products so she has better cost and supply control too. 'With increasing operational costs all over, I also have to make sure the company is able to cover these costs and still ensure my staff are well paid and paid on time,' said Ms Chng. She added that her landlord has been an understanding one who has helped her in containing the running costs of her business over the last eight years. In arriving at its findings for its SME Index, OCBC uses an estimate of real GDP growth based on available economic data for the current quarter and forecasts of explanatory variables for the remaining term, called GDP Nowcast. The GDP growth Nowcast based on the OCBC SME Index for the second quarter of 2025 is around 4.5 per cent, up from the 4.1 per cent registered in the previous quarter. This is aligned to the second quarter of 2025 GDP advance estimates released by the Ministry of Trade and Industry at 4.3 per cent, according to OCBC. The business outlook for SMEs in the second half of the year, however, is likely to remain subdued as tariff-related uncertainties persist, said OCBC. Additionally, the front-loading of exports over the past two quarters will probably give way to lower demand from further trade disruptions and the weakening US dollar. Marine equipment supplier company OS Supplies is an example of what is going on on the ground. Its director, Mr Bala , said the company has shown strong growth compared to the same period last year, achieving about $5.5 million in revenue as at June. 'However, in the next six months, we expect cost pressures due to currency fluctuations, rising insurance, and freight charges caused by global conflicts. These factors may impact our margins despite steady demand,' he said.
Business Times
27-06-2025
- Business
- Business Times
GuocoLand's Dora Chng on condo buyer preferences.
[SINGAPORE] As customers' needs evolve, having a flexible layout can be a big draw for discerning condo buyers here, according to Dora Chng, residential director of GuocoLand . A flexible layout allows a family with young children that requires three bedrooms in their home today to remove a bedroom easily and create a larger living/dining area in future when the children grow up and move out of the home, noted Chng. Speaking to me on a recent episode of the PropertyBT podcast, Chng highlighted how GuocoLand designs condo homes where the bedroom that is closest to the living room can be easily removed. For example, the flooring of the living room extends into the bedroom so when the wall between the living room and bedroom is removed, an owner seamlessly gets a larger living room. She also highlighted that more new condos are catering for people to hold gatherings in dining rooms provided in the development's clubhouse. Condo owners may want to invite family and friends to their home, 'but they may be worried that there isn't enough space for accommodating everybody in the home,' she said. However, with dining rooms that can be amalgamated, condo owners can hold parties of up to 50 people, noted Chng. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Springleaf Residence A recent area of focus for Chng is biodiversity. GuocoLand's next condo launch, Springleaf Residence in Upper Thompson Road, is nestled beside a 30-hectare forest and has unobstructed views of the central catchment nature reserve. According to her, 99-year leasehold Springleaf Residence is the first private residential development here to adopt the biodiversity sensitive design and development approach. She emphasised the need for Spingleaf Residence to strike a balance between being next to the forest and 'living with our neighbours who are in the forest'. For example, the development will use less reflective glass for the windows to minimise bird strike issues. The developer is also looking at bringing the native forest species into the development 'so that we feel and look like part of our neighbouring nature reserve', said Chng. Other features at Springleaf Residence include a literal forest corridor to act as a buffer to the actual forest. The development is located close to Springleaf MRT station on the Thomson-East Coast line, which is one stop away from the Lentor MRT station that serves several of GuocoLand's new condo projects. Chng is pleased with the take-up rates at GuocoLand's Lentor area condo projects, where buyers are predominantly Singaporeans. Among them are young families who are drawn to three-bedders, as well as downsizers and first-timers who like two-bedders. Love for new condos In the Singapore condo market, many buyers like new projects, which can command hefty pricing premium on a per square foot basis versus comparable older condos nearby. Chng said an appeal of new condo homes is that they are typically in move-in condition. 'You hardly need to renovate it at all because it's partially furnished with the necessary appliances. And there are even wardrobes and kitchen cabinets that are fitted already,' she added. Other pluses with new condo homes Chng highlighted include a fresh land lease, modern facilities, efficient layouts and the use of the progressive payment scheme to pay for new homes that are bought off-plan. When it comes to marketing new condo homes, many developers put great effort into building swanky show galleries and show flats. All this despite the growing power of virtual reality tools. Chng does not expect virtual reality to replace physical show flats over the next few years. As the purchase of a home is usually the largest purchase in a person's life, people 'like to see and feel how the development looks', she said. Potential buyers may want to know how the solid surface top feels like or feel the actual space of a unit, she elaborated. Asked whether, with prevailing economic uncertainties, if now is a good time to buy a private home, Chng argues 'when there is a need, I think anytime is the best time'. She added that buyers just need to buy within their means and affordability. One thing that developers need not worry over is a move from the younger generation here away from homeownership. Chng notes currently the younger generation continues to show a strong affinity for homeownership.
Business Times
23-06-2025
- Business
- Business Times
PropertyBT: Selling Singapore's new dream homes
Singaporeans have always had a special interest in real estate investment so GuocoLand's recent success in Lentor might have piqued your interest. It certainly piqued Leslie Yee's interest. As host of The Business Times podcast PropertyBT, he sat down with Dora Chng, residential director at GuocoLand to garner insights into their residential developments in the latest podcast episode. Unearth market trends and insights The pair explore why new condo units in Singapore are commanding high prices and selling like hotcakes. With Chng's expert insights, listeners gain a comprehensive understanding of the unique appeal and advantages of owning a brand-new condo compared to resale properties. This episode is packed with data and observations that can help potential buyers and investors make informed decisions. She explains the intrinsic value and attraction of new condos, such as modern designs, fresh tenure, and state-of-the-art facilities. She also points out that new developments often integrate leisure and practical amenities, making them highly desirable. Pricing premium justification A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Despite the higher price point of new condos—40 per cent higher on average compared to resale units—Chng explains why these properties are worth the investment. She proposes that enhanced facilities, strategic locations near MRT stations, and flexible, contemporary layouts are key reasons. The conversation then delves into GuocoLand's successful projects in the Lentor area, illustrating how the company has innovatively marketed and sold multiple developments despite a competitive landscape. Here again Chng shares insights into their strategic approach which offers valuable lessons for real estate professionals and investors. Evolving buyer preferences Yee and Chng move on to discuss how buyer preferences are shifting, with modern buyers valuing location convenience and flexible living spaces. Chng highlights the changing demographics and needs of condo buyers in Singapore, ensuring that listeners are up-to-date with current market trends. The podcast shines a light on GuocoLand's forward-thinking projects that emphasise wellness and sustainability. Chng then shares intriguing details about the upcoming Spring Leaf Residence, designed to coexist harmoniously with its natural surroundings—an increasingly important factor for environmentally conscious buyers. A definite highlight for listeners who might be considering a property purchase. Show flats vs virtual walkthroughs The episode covers the enduring importance of show flats in an age of advanced virtual reality technology. Here Chng provides practical advice on what to look for in show flats, offering essential tips for potential buyers to visualise their future homes accurately. Listen now to this candid discussion, between Leslie Yee of The Business Times and Dora Chng from GuocoLand which addresses common concerns about the timing of property purchases and financial planning. Useful advice whether you are a prospective buyer for investment or looking for a home. PropertyBT is a podcast of BT Correspondents. Look out for the next episode featuring senior correspondent Ben Paul. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@ --- Written and hosted by: Leslie Yee (lyee@ With Dora Chng, residential director, GuocoLand Edited by: Emily Liu & Claressa Monteiro Produced by: Leslie Yee, Emily Liu & Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media --- Follow BT Correspondents: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: BT Podcasts: BT Market Focus: BT Branded Podcasts: BT Lens On:
New Paper
23-04-2025
- New Paper
8 recognised for aiding police investigations in voyeurism and outrage of modesty cases
On Nov 4 last year, Mr Chng Choon Ming was at Bukit Panjang LRT when he spotted a man allegedly touching a female commuter's rear onboard a train. Mr Chng detained the man and alerted the station staff and the police. On April 22, Mr Chng and seven others received recognition from the Public Transport Security Command (TransCom) for assisting the police in seven cases involving voyeurism and outrage of modesty on public transport. In another case, Mr Kumar Arumugam on Nov 24 was in the vicinity of Boon Keng MRT station when he heard a commotion outside the female toilet. A woman and her friends informed Mr Kumar that they saw a man purportedly peeping over a cubicle wall inside the female toilet. Mr Kumar helped to detain the man and called the police. Mr Chng, Mr Kumar and four others - Mr Mohamed Ramadzan Mohamed Din, Ms Siti Khadijah Mohammed Anis, Mr Kay Eng Kok Wei and Mr Anson Liew Wen Jin - were presented the Public Spiritedness Award. Mr Lee Shao Wei and Ms Seet Li En Jessica received Letters of Appreciation. Assistant Commissioner of Police Masagoes Idris Hussain, Commander of Public Transport Security Command, said: "The award recipients are truly commendable. Their bravery, civic-mindedness and quick-witted actions aided the police in bringing the suspects to task. "These actions epitomise the symbiotic relationship that Police have with the community in enhancing the security ecosystem within the public land transport nodes."
Yahoo
09-02-2025
- Business
- Yahoo
GuocoLand tops five bidders for River Valley Green Parcel B with $1,420 psf ppr bid
The site is next to Kim Seng Park and fronts the Singapore River (Source: EdgeProp Landlens) The River Valley Green (Parcel B) tender closed on Feb 7 with five bids. The top bid of $627.84 million came from GuocoLand. Based on the land area of 126,326 sq ft and maximum gross floor area of 442,142 sq ft, the price translates to a land rate of $1,420 psf per plot ratio (ppr). The 99-year leasehold site can yield about 475 residential units with commercial space on the first level. "If we are awarded the site, we plan to build a high-end waterfront residential development with two towers," says Dora Chng, GuocoLand residential District 9 site in Robertson Quay "is the last residential site with direct access to the Singapore River", adds Chng. It is next to Kim Seng Park and fronts the Singapore River. The site also has direct access to the Great World MRT Station on the Thomson-East Coast Line and is just across the road from the popular River Valley Primary School, which should attract families with children of school-going age. Search for the latest New Launches, to find out the transaction prices and available units GuocoLand's bid was 7.9% higher than Sing Holdings' bid of $576.33 million ($1,308 psf ppr). Developers may also have viewed the River Valley Green (Parcel B) site more favourably due to its long frontage facing the Singapore River compared to the other River Valley Green sites, reckons Tricia Song, CBRE head of research for Singapore and Southeast Asia. "The slightly keener interest for [River Valley Green (Parcel B)] perhaps reflects a recovery in developers' confidence in the primary home sales market, supported by strong take-up rates at recent new project launches, as well as moderating interest rates towards the end of 2024," says Wong Siew Ying, head of research and content, PropNex. According to Mark Yip, CEO of Huttons Asia, the bids received were the highest number of bids and tender price for a GLS tender in the Core Central Region (CCR) since Irwell Bank Road, off River Valley Road, in January 2020. The tender attracted seven bids, with City Developments Ltd (CDL) winning the site with a bid of $583.9 million ($1,515 psf ppr). The site at Irwell Bank Road has since been developed into the 540-unit Irwell Hill Residences, which obtained its Temporary Occupation Permit in November 2024. Based on caveats lodged, the latest transaction at Irwell Hill Residences was for the sub-sale of a 678 sq ft, two-bedroom unit on the 15th floor that changed hands for $1.9 million ($2,802 psf) in January. River Valley Green (Parcel B) was initially placed on the Reserve List and zoned for 360 homes and 220 long-stay serviced apartments (SA2). However, in October 2024, it was launched for sale along with three other sites under the 2H2024 GLS programme. GuocoLand's top bid of $1,420 psf ppr for Parcel B is also 7.2% higher than the neighbouring Parcel A. Read also: Allgreen's $1,304 psf ppr at the top of two bids for Zion Road Parcel B Wing Tai Holdings won the River Valley Green (Parcel A) tender in June 2024 with a bid of d $464 million ($1,325 psf ppr). The new project on the site is expected to debut sometime in 2Q2025 as River Green, which is expected to have more than 400 recently awarded GLS sites in the vicinity include Zion Road Parcel B (estimated 610 units) site, which drew two bids and was awarded for $730.09 million ($1,304 psf ppr) in August 2024 to Allgreen Properties, and the SA2 (long-stay serviced apartments) hybrid site at Zion Road Parcel A (735 residential units, 435 SA2 units) which drew a lone bid of $1.1 billion ($1,202 psf ppr) from a joint venture between CDL and Mitsui Fudosan, which were awarded the site in April 2024. Marcus Chu, CEO of ERA Singapore, says that River Valley Green (Parcel B) drew the most bids among the sites. "The previous three sites in the vicinity only had an average of 1.7 bids each," he says. However, developers in the area will have to contend with heightened competition, with 1,725 residential units and 435 SA2 units expected in the pipeline from the three prior sites, says CBRE's Song. Nearby developments Riviere (455 units) saw 47 transactions in 2023 at a median price of $3,083psf and five units change hands in 2024 at a median price of S$2,848 psf. The freehold 545-unit Rivergate, completed in 2009, saw 13 transactions at a median price of $2,809 psf in 2024. Taking the cue from the launch prices at prior sites and new developments, Song reckons the new development at River Valley Green (Parcel B) could be launched at an average price of $3,000 psf. Read also: Wing Tai Holdings submits top bid of $1,325 psf ppr for residential GLS site at River Valley Green Mohan Sandrasegeran, SRI head of research & data analytics, anticipates the launch price for the new project to be in the range of $2,800 to $3,000 psf. "With recent new launches in the area, such as Irwell Hill Residences and The Avenir almost fully sold, we may still see healthy demand when this new project is launched for sale to buyers," says Justin Quek, CEO of OrangeTee & Tie. Check out the latest listings for River Green properties See Also: Singapore Property for Sale & Rent, Latest Property News, Advanced Analytics Tools New Launch Condo & Landed Property in Singapore (COMPLETE list & updates) Allgreen's $1,304 psf ppr at the top of two bids for Zion Road Parcel B Wing Tai Holdings submits top bid of $1,325 psf ppr for residential GLS site at River Valley Green Tender launched for Zion Road (Parcel B) GLS site En Bloc Calculator, Find Out If Your Condo Will Be The Next en-bloc HDB Resale Flats Up For Sale, Affordable Units Available
