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MOM says FDWs should be given 3 meals a day, but many employers are not complying

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The Ministry of Manpower (MOM) requires employers to provide Foreign Domestic Workers (FDWs) with three meals a day, enough for “a female engaged in moderate activity”, but more and more FDWs are coming forward with disturbing reports that they are not receiving adequate food from their employers.

Another media source first reported on the growing food plight of FDWs in Singapore. The concern about food and proper nutrition is one of the top five issues that FDWs have recently raised.

Local government organisations Transient Workers Count Too (TWC2) and Humanitarian Organisation for Migration Economics (HOME) reported that there is a growing number of complaints from FDWs about receiving inadequate food, or food of bad quality.

While the number of FDW cases have gone down after seeing a rise in cases involving male construction workers instead, the organisations said that they continue to receive food and nutrition complaints from FDWs.

“Our case numbers have come down over the last few years, but our social workers around four years ago reported that they were hearing more complaints from workers about inadequate food in general, such as having rice and some cheap green vegetables for meal after meal,” the TWC2 spokesperson said to another media source.

 

Take a look at these additional numbers:

HOME, which provides food and shelter for FDWs who need assistance, said that of the 800 women housed at their shelter, around 40 percent have raised issues about not receiving enough food, or that the food that do get is of poor quality.

The Centre for Domestic Employees (CDE), which serves as NTUC’s advocacy group for FDWs, reported that around 4 percent of over 2,400 cases it has worked on since 2016 were about inadequate food complaints.

Stephanie Chok, HOME’s advocacy and communications manager, cited some of the most common food-related complaints that FDWs have brought up –

1) being given stale food

2) not being given enough food

3) being given food goes against the FDWs’ religious dietary restrictions

Chok also said that the same FDWs raising these concerns are mostly afraid to speak to their employers about the issue as they don’t want to get sacked from their jobs or reprimanded.

In some cases, employers even make noise about how quickly the food is being consumed, resulting in the FDW not feeling comfortable enough to get or ask for more food and therefore not receiving proper nutrition.

Another media source cited a few specific cases of FDWs not being given enough to eat.

Case 1: Raquel Mondarte, a 47-year-old FDW from the Philippines

Raquel’s former employer was “great” in other ways but was apparently also “very stingy with food”. Most of the time, she was not given meat or even vegetables for her meals.

Her fellow FDWs, neighbours and friends came to her rescue, donating cooked food or canned food to Raquel so she could get by. She also bought most of her own food but did not want to spend too much as she was saving her salary.

Case 2: Suri, an FDW from Indonesia

Suri works for employers who have surveillance cameras installed in their kitchen, so that they can keep track of the food that Suri is eating.

Suri said that he employers allow her to only eat certain foods. As an example, she is permitted to eat eggs, but maybe only one per day. She was also told that she is not allowed to eat fish because it is expensive.

Suri also gets questioned by her employers if she cooks but the children she cares for are not eating and if she takes food from their refrigerator. Like Raquel, she buys a lot of her own food.

MOM is very specific and strict about making sure that employers follow the guidelines on adequate food and rest that FDWs are lawfully entitled to. MOM said that employers are required to provide adequate food and fulfil all obligations relating to the well-being of the FDW, regardless of whether the employer is in Singapore or overseas.

Here is an excerpt from the MOM page on Rest days and well-being for foreign domestic worker:

“You must provide your FDW with 3 meals a day.

An example of a day’s food intake for a female engaged in moderate activity is as follows:

  • Breakfast: 4 slices of bread with spread
  • Lunch: 1 bowl of rice + three-quarter cup of cooked vegetables + palm-sized amount of meat (fish/poultry/beef/lamb) + fruit
  • Dinner: 1 bowl of rice + three-quarter cup of cooked vegetables + palm-sized amount of meat (fish/poultry/beef/lamb) + fruit

Be sensitive to your FDW’s needs when it comes to food. Do not force your FDW to eat food that she is not supposed to or is not comfortable with. For example, your FDW may not be able to eat certain food due to her religious beliefs, or she may not be accustomed to your family’s dietary requirements (e.g. vegetarian food or porridge).”

If employers do not comply with the guidelines set by MOM, serious charges can be filed and employers can be charged and even sentenced to jail.

Last year, a couple was sentenced to jail – three weeks for the husband (with a fine of S$10,000) and three months for the wife – for starving their Filipino FDW for 15 months, which caused her to lose around 20kgs.

Today’s top tech news, December 12, 2018: Vietnam-based travel company Triip now allows blockchain booking

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Also, LightInTheBox acquires EzBuy despite struggling freefalling in the stock market, Uber’s sued right after announcing IPO

Vietnam-based travel impact startup Triip launches blockchain booking feature [press release]

Triip, a Ho Chi Minh City-based travel impact company announces its new payment network that has two new blockchain currencies option.

The company claimed that it’s the first time ever a travel booking platform features blockchain currencies. Targeting upcoming mid-December, Triip’s visitors will be able to book their travels with Ethereum, followed by a new currency of Tomochain called TOMO by the end of the month.

Triip has been around for four years now and has been open to innovations with their moves in adopting blockchain currencies. The reason the company has TOMO currency is also due to the company’s support towards Tomochain’s recent Mainnet launch for TOMO and its partnership with the cryptocurrency.

After the blockchain payment launch, Triip plans to expand its user base in Indonesia alongside as a part of its collaboration move with photo-editing app PicMix.

“Within Triip as well as in the blockchain world at large, big things are happening. We’re glad that we are on this ride,” closed Hai Ho, the CEO of Triip in addressing Triip Protocol’s partners.

China-based e-commerce firm LightInTheBox acquires Singapore’s Ezbuy for US$85M [Singapore Channel Asia]

The discount e-commerce service firm LightInTheBox announced that it has closed the acquisition of Ezbuy, Singapore’s cross-border selling service operating in Singapore, Malaysia, Indonesia, Thailand, and Pakistan.

The deal first emerged in November with LighInTheBox taking 100 percent ownership of the company as a way for the struggling e-commerce firm to survive.

The company has spent the last few months at a price less than US$1 with the initial price entering the stock market at US$9.50. Its stock’s today is worth US$0.64 and it is reflected in the company’s Q2’s net loss US$9.5 million.

Also Read: Vietnamese SaaS platform Base raises US$1.3M in pre-Series A funding round

The Ezbuy deal comes in as the last hail mary that is expected to will inject new blood beyond its markets. Ezbuy CEO Jian He has become CEO of LightInTheBox taking over from Alan Guo, LightInTheBox’s founder, while Meng Lian, a partner with IDG Ventures, Ezbuy’s backer, has joined as a director.

Taiwan’s big data company Accupass expands to Malaysia to boost event ecosystem [Press Release]

Taiwanese AI and big data company Acupass officially expands its footprint to Malaysia through a brand launch called “Shape Future Events – Take your events to the next level” today at the Selangor Digital Creative Centre (SDCC) in i-City, Shah Alam.

Accupass provides an O2O (online to offline) model and event planning consultancy that also boost the development of event industry. It works by applying AI and Big Data technologies into event planning, which then enables clients to increase their efficiency with event organization.

The reason Accupass enters Southeast Asia through Malaysia is that the company has seen Malaysia as having a mature digital economy environment with its internet infrastructure and a population that is fluent in both Chinese and English.

“Accupass recently has been devoted to applying AI (artificial intelligence) to event planning services, such as FACEPASS, Chatbot (automatic ticket selling), and Accupai (photo optimization service). We look forward to creating an ecosphere for the event industry in Chinese region,” said Freeza Huang, Asia Pacific General Manager of Accupass.

Uber is sued by the company that claims to have the first on-demand ride-hailing concept [Channel News Asia]

Uber Technologies Inc is reportedly being sued by Sidecar Technologies Inc, the company that claims to pioneer the on-demand ride-hailing concept. The bitter Sidecar has accused the unicorn startup to engage in what it describes as “predatory pricing and anticompetitive practices” that ultimately put Sidecar out of business.

The lawsuit is filed in U.S. district court in San Francisco on Tuesday, December 11, morning stating that “Uber became hell-bent on stifling competition from competing for ride-hailing apps,” and used subsidies and made fake ride requests to competitors in a bid to dominate the market.

According to Sidecar’s lawsuit, Uber gave bonuses and other subsidies to drivers, reduced passenger fares and lost money on every ride. Furthermore, in the lawsuit, Sidecar’s co-founder Sunil Paul also mentioned that “Uber’s senior officers and executives directed clandestine campaigns” to place fraudulent ride requests on the Sidecar app that were canceled before drivers arrived at the pick-up destinations.

Sidecar went out of business in December three years ago and was forced to sell its assets to General Motors Co in 2016.

Indonesia’s e-commerce unicorn Tokopedia raises US$1.1B, in development to become an “infrastructure-as-a-service” platform [e27]

Indonesian e-commerce unicorn Tokopedia today announced that it has raised a US$1.1 billion funding round led by SoftBank Vision Fund and Alibaba Group, with participation by Softbank Ventures Korea and other existing investors.

Tokopedia stated that it will continue its focus on the Indonesian market, specifically in driving economic development and financial inclusion. To support its mission, Tokopedia commits to building the technology and infrastructure to empower small- and medium-sized enterprises (SMEs) as well as improve customer experience.

“Leading into our tenth year, Tokopedia is evolving our ecosystem to infrastructure-as-a-service where our logistics, fulfillment, payments and financial services technologies will empower commerce, both online and offline,” said Tokopedia CEO and Co-Founder William Tanuwijaya.

Also Read: Singapore VC fund TNB Aura makes final close of first fund at US$22.64M

Tanuwijaya noted that this approach will broaden Tokopedia’s scale and reach while improving operational efficiencies for businesses and partners in the company’s ecosystem.

Image Credit: Accupass

The post Today’s top tech news, December 12, 2018: Vietnam-based travel company Triip now allows blockchain booking appeared first on e27.

Source: E27

TOC editor and writer to be charged in court for criminal defamation tomorrow

The Singapore Police Force has revealed that the editor of local socio-political website, The Online Citizen (TOC), Terry Xu, will be charged in court tomorrow with criminal defamation. The police will also charge a writer, Daniel Augustin De Costa, with criminal defamation and unauthorised access to computer material under the Computer Misuse Act.

Earlier in October, the Info-communications and Media Development Authority (IMDA) made a police report against TOC and a writer named Willy Sum after the website published an article titled “The Take Away from Seah Kian Ping’s Facebook Post”, purportedly written by Sum.

The article drew the Government’s attention for making allegations of corruption against certain individuals. The Attorney-General’s Chambers subsequently allowed the police to investigate the matter. The police obtained a court warrant to search the homes of Xu and Sum.

When the police searched the homes of Xu and Sum on 20 Nov, they found out that the contentious article was written by Daniel Augustin De Costa under the name of Willy Sum. The police conducted a search of De Costa’s home thereafter.

The police say that investigations suggest that De Costa wrote the article and emailed it to TOC using Willy Sum’s email account. Xu reportedly published the article on TOC without verifying the identity of the author.

Both Xu and De Costa are now set be charged for criminal defamation for the publication and authorship respectively of the article. De Costa will be charged with unauthorised access to computer material as well, because he accessed Willy Sum’s email account and sent the email without permission from Sum.

In the statement, the police also addressed the allegations against their actions in this case:

“There were allegations made against police’s actions with regard to this case, including how Police had supposedly over-reached by seizing the electronic equipment of those involved.
“As part of its investigations, the police had seized electronic equipment including laptops, mobile phones and hard drives from Xu and De Costa. This was necessary to secure and preserve evidence.
“The seizure of the electronic equipment from Xu and De Costa uncovered evidence pointing towards the identity of the true author of the article, in this case, De Costa. It was also alleged in a posting written ostensibly by De Costa’s mother that the police had unreasonably prevented De Costa from leaving Singapore for an overseas trip.
“The police had to act quickly as we had obtained information which suggested that De Costa was the true author of the offending article.”

Xu and De Costa may face up to two years in jail and/or a fine, if convicted of criminal defamation. De Costa may face up to two years in jail and/or a $5000 fine if he is found guilty of unauthorised access to computer material.

Former City Harvest Church leader found guilty of attempting to leave the country via motorized sampan

On Wednesday, December 12, former City Harvest Church leader and fund manager Chew Eng Han has been convicted of trying to defeat the course of justice and attempting to leave Singapore via motorized sampan on February 21 of this year, one day before serving his jail sentence.

Along with five other individual others, Chew was convicted for participating in the biggest case of misuse of charitable funds that the country has ever seen, including criminal breach of trust and falsification of accounts involving more than S$50 million in church funds.

After having received permission to spend Chinese New Year with his family early in February, Chew was captured at sea on February 21 and then charged with trying to avoid serving his sentence and attempting to leave Singapore for Malaysia unlawfully at an unauthorized point of departure, the Pulau Ubin Jetty.

Adrian Wee of Characterist LLC, Chew’s lawyer, will attempt to obtain a lighter sentence for Chew. Although Wee admitted that what his client did was “misguided and ethically wrong,” “starting at the end and working backwards” would not determine whether Chew’s conduct was criminal.

Wee explained that the Police Coast Guard who received a tip and arrested Chew believed that Chew was going to go into Malaysian territory. But the truth of the matter, the lawyer said, was that Chew was going toward some fishing villages near Pulau Ubin, which is still part of Singapore’s territory.

While Chew had planned to leave the country since the idea of serving his prison term was a painful one, he recognized that this was a “terrible mistake.”

Yee said, “The accused’s acts up to the point of his arrest (culminating in him being on board the first boat en route to a point B) do not amount to embarking on the crime proper.”

Therefore, the lawyer alleged, it cannot be said that Chew attempted to leave the country.

But Eugene Sng, the Deputy Public Prosecutor assigned to the case, said that even though Chew was not on board a boat that would ultimately take him to Malaysia, he was already carrying out his plan to leave the country.

According to Sng, determining that a person is guilty of attempting to leave a country only if he or she is already on the vessel that would take him or her abroad is “misconceived.”

Chew’s three-year and four-month jail term, which he was supposed to have served starting February 22 of this year, may more than doubled, given that a jail term of three and a half years could be imposed on him for his attempt to intentionally defeat the course of justice. As for attempting to leave the country, Chew faces a possible S$2000 fine, a six-month jail term, or both penalties.

There are three other people involved in Chew’s escape attempt. Tan Poh Teck, a fish farm owner and boatman, who received a 27-week jail sentence for trying to help Chew leave the country.

Malaysians Khoo Kea Leng, a freelance diver, and Tan Kim Ho, a private tour guide, were sentenced to six months in jail, for their roles in Chew’s escape attempt.

While Chew Eng Soon, the former CHC leader’s older brother, also had a hand in the attempt, he has yet to be charged in court.

Chew Eng Han will be sentenced on January 29.

Read related: City Harvest leader arrested at sea trying to flee Singapore in sampan, one day before jail term starts

https://theindependent.sg.sg/city-harvest-leader-arrested-at-sea-trying-to-flee-singapore-in-sampan-one-day-before-jail-term-starts/

 

Facebook and Twitter ban Amos Yee for promoting pedophilia

Social media giants Facebook and Twitter have followed in the footsteps of YouTube, WordPress and Patreon in banning controversial vlogger Amos Yee from their platforms for promoting pedophilia.

Yee, a young Singaporean who is presently living in the US after being granted asylum, openly said in his Twitter bio that “I defend Pedophiles publicly on the internet.” Last Saturday, Twitter banned Yee after users flagged his account over this sick post:

Yee’s Facebook account is reportedly no longer available online, as well. His last post on social media, published on Sunday, reportedly revealed that he has been running a pedophile-friendly server that it meant for discussion and education on “positions of paedophiles… debate tactics and how to sound more convincing when putting forth an argument”.

In the post, Yee wrote: “I’ve been running a paedo-friendly Discord server for the past few weeks and I’m looking for new members. This Discord server is not open to the public so if you’d like to join, private message me here on Facebook with a small intro of yourself (your views on paedophilia, your political views, how big of an Amos Yee fan you are).”

Earlier this year, in May, YouTube barred Yee’s account on their platform after he posted three videos defending pedophilia last November. The videos drew widespread criticism online and led to the cancellation of several speaking engagements that Yee was scheduled to participate in.

Last Sunday, US-based human rights lawyer Melissa Chen who helped Yee obtain asylum status in the US said on her Facebook page that Yee should be deported from the US. Referring to Yee’s defense of pedophilia and pedophiles, she said:

“Some repulsive ideas generate too much negative externalities, and especially when these externalities involve the welfare of children, I think society cannot allow them to have free reign.”

Can’t ignore the elephant in the room that is Amos Yee. Apologies for hastily-made video in the airport lounge.My statement:

Posted by Melissa Chen on Sunday, 9 December 2018

M’sian Transport Minister Anthony Loke, ‘Seletar Airport is yours, but Pasir Gudang is ours’

The Transport Minister of Malaysia, Anthony Loke Siew Fook, staked his country’s claim to the airspace over Pasir Gudang, Johor, with an informative video on Facebook on December 12, which has been viewed almost 250,000 times and gotten almost 8,000 shares.

Addressing Singapore, he wrote, “Hi Singapore, Seletar Airport is yours, but Pasir Gudang, Johor, Malaysia is ours.”

Here is the full text of his post:

NO to Singapore Seletar Airport ILS flight path over Pasir Gudang airspace

Hi Singapore, Seletar Airport is yours, but Pasir Gudang, Johor, Malaysia is ours. So please hear us out.

To Malaysians, please watch and share this – there are reasons why Malaysia has to oppose the ILS (Instrument Landing System) of the Seletar Airport which Singapore wants to implement from 3 Jan 2019.

We urge Singapore to withdraw the ILS announcement and to amend the flight path as per our request. 

——

Anthony Loke Siew Fook
Ministry of Transport Malaysia

#ILS #SeletarAirport #Singapore
#PasirGudang 
Civil Aviation Authority of Malaysia

As mentioned in his caption, Loke sought to explain why his country opposed the new ILS at Singapore’s Seletar Airport.

The text of the video reads, “Why did Firefly suspend all its flights into Singapore after the airline was told to relocate to Seletar Airport starting 1st Dec 2018? It’s because Malaysia opposed the new ILS (Instrument Landing System) that Singapore wants to use in the airport effective 3 Jan 2019.

What is ILS?

Instrument Landing System is a precision runway approach aid that helps airplanes to land even with poor visibility. It’s safer for the landing of aeroplanes.

Then why does Malaysia oppose it?

It’s because of the flight path that Singapore wants to use for that ILS.

Singapore’s Seletar Airport is merely 2km from Pasir Gudang, Malaysia.”

The video goes on to explain that the height buffer for the flight path is quite narrow at specific points, which a tall crane could easily reach.

Loke expressed concern over the tall buildings in the area. He speaks in the video, saying, “We can’t even build tall buildings over Pasir Gudang if we allow that flight path.”

Another concern is the port in the area, which the video claims would be subjected to “higher risks and multiple restrictions.”

There were no problems of this type in the past, but now, a “big” area is affected, “from Pasir Gudang,” “up north to Ayer Tawar (Johor)” and “almost to Kota Tinggi.”

The Transport Minister also clarifies that it is not Seletar airport itself he’s against but the flight path.

“Our position is very clear. We are not against Seletar, but as far as the descending flight path is concerned, it cannot be over Pasir Gudang.”

The video ends with these words, “Malaysia urges Singapore to withdraw the ILS and to amend the flight path for entry from the southern end.”

Many netizens showed their appreciation for Loke’s post.

Read related: M’sian Transport Minister Anthony Loke, “We stand by our position”

https://theindependent.sg.sg/msian-transport-minister-anthony-loke-we-stand-by-our-position/

 

“Like mother like son?” – New photo of Li Hongyi wearing slippers at panel event draws fresh criticism

A new picture of Prime Minister Lee Hsien Loong and Singapore sovereign wealth fund Temasek CEO Ho Ching’s son wearing slippers at what looks to be a formal event is trending online.

One of the grandson’s of Singapore founding Prime Minister, the late Lee Kuan Yew, Hongyi presently serves as deputy director of product and engineering at the Government Technology Agency of Singapore (GovTech).

This new photo, published on social media by Facebook user Cinorom Elicebmi this morning, shows Hongyi at a panel event. While the rest of the three panellists are wearing blazers, formal pants and covered shoes, Hongyi sits in sharp contrast in a t-shirt, casual pants and flip-flops:

Earlier, Hongyi was captured on camera wearing flip-flops instead of more formal, closed-toe footwear at a recent talk. This latest picture appears to have been taken at the same event.

Many netizens have pointed out that Hongyi’s slippers mirror what seems to be his mother’s preferred footwear – open-toed sandals. Despite widespread criticism that her sandals look “sloppy” especially at formal events where she meets world leaders with her husband, Hongyi’s mother has continued to wear open-toed sandals at functions in Singapore and abroad.

Meanwhile, netizens remain unimpressed with Hongyi’s footwear. The latest picture has drawn fresh criticism from netizens, who have hit out at Hongyi for dressing so unprofessionally:

https://theindependent.sg.sg/li-hongyi-mirrors-his-mother-ho-chings-dressing-sense-wears-slippers-to-formal-event/

https://www.facebook.com/photo.php?fbid=588621514934496&set=a.120091195120866&type=3

Algae-covered concrete pavements at Woodlands re-rendered, thanks to the power of the internet

Workers contracted by Sembawang GRC to re-render algae-covered concrete pavements around the foot of certain blocks in Woodlands appear to have completed rectification works.

Reddit user u/random_avocado has been following the progress on rectification works in the area and posted the image above online yesterday. This latest picture shows that the algae-covered concrete has been rectified and a fresh layer of concrete can be seen sitting in contrast to the weathered void deck concrete.

Meanwhile, hundreds of netizens agreed that it seems like the authorities only took action after pictures of the algae-covered concrete went viral online:

Earlier, photos posted on Reddit and Facebook, showing the algae growth covering the concrete pavements around the foot of blocks in Woodlands, triggered immense criticism against Sembawang Town Council.

Criticism against the town council grew when another Woodlands resident, Facebook user Gnanasegari Rajesh, wrote that the area is only clean when the MPs do their walkabouts and that the area is usually “filthy dirty” despite multiple emails she has sent to the town council:

“I’m a resident from woodlands also. The areas are clean went MP meets residents. I’ve write emails to town council so many time & for the next few weeks it will be clean then back to square esp near rubbish chute. if yr clothing falls down u can never use it again. filthy dirty.”

In a response to the national broadsheet, a Sembawang Town Council spokesman acknowledged that there is algae growth affecting areas near blocks 870 to 882 and blocks 801, 802 and 804 near Republic Polytechnic, before pinning the poor state of the affected areas to “poor workmanship from the re-rendering of the concrete surface.”

https://theindependent.sg.sg/sembawang-town-council-initiates-works-to-rectify-algae-growth-in-woodlands-after-complaints-go-viral-online/

Savills Research: Residential property demand moderated by cooling measures

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The revised 12% ABSD for Singaporeans buying their second residential property and the 20% ABSD on foreign buyers dealt the private residential market a one-two punch, said a research report by Savills Singapore.

Although Savills believes that both developers’ and buyers’ resilience would hold out against the latest measures, it said that after five months the market is beginning to develop characteristics that differentiate it from previous cyclical epochs.

“Government measures and the tsunami of collective sales from May 2016 to July 2018 have, in our opinion, been the generating sets of this new topology, which we are only just beginning to get a glimpse of. We believe that some (there are others) of the new market characteristics which have revealed themselves are:

  • Developers adopting a 5 July pricing strategy for RCR projects;
  • Buying continuing past maiden launch;
  • Losing the stepping up of prices at sequential launches.

Given that this is just a residential brief, we will not be showing the full slate of statistics to support the abovementioned characteristics. We will merely summarize what we have quantitatively found from a sample of projects that were launched from 6 July onwards.”

residential propertySavills said developers adopting 5 July pricing strategy for RCR residential property projects

“Prior to 6 July, our in-house developed model showed that developers were pricing towards the right tail of the price per sq ft (psf) distribution. In two instances, one in Q2/2018 and another on 5 July 2018, new launch prices were closing in or exceeding the second positive standard error.

However, since the measures came into effect, developers have been pricing their new launches around the mean of our model, albeit slightly towards the right of the mean. This was the case for The Tre Ver and Jadescape. For Parc Esta, the average price of S$1,680 psf was slightly to the left of our mean.

The results from the first month of launches for these projects show that if there are no confounding effects, say competition from launches in the vicinity that the subject property cannot clearly differentiate itself from, healthy take-up rates were achieved. Jadescape and Parc Esta achieved 27.1% and 23.5% sales respectively in the first month or first weekend of launch. From the sample of developments that we analyzed, we believe that prices of new launches are generally in line with our mean statistic.

However, this may not imply that prices are flat because many of the recent launches in the RCR tended to take reference from Park Colonial, which not only had over 270 caveats registered on the eve of the cooling measures but was done at prices significantly higher than our model’s mean price.

In short, for subsequent launches in microlocations that had not seen any major new offerings for years, but where the developer was still benchmarking against Park Colonial, prices were still higher against the background sale prices in those micro-locations.

The time needed to allow for this adjustment in new launch prices across the island means that there will continue to be some mild positive momentum to prices for one to two quarters after the cooling measures have taken effect…”

The report also noted that buying continues for residential property past maiden launch weekend

“In the aftermath of the implementation of the TDSR framework in June 2013, not only were sales at the initial weekend launch lower, but the rate of sales slowed to almost negligible in the months after that maiden launch.

This time round, we see continued sales at projects like Riverfront Residences, The Tre Ver, Jadescape, The Affinity at Serangoon, The Tapestry and Stirling Residences. We believe that continuing sales may be indicative of the psychological momentum of buyers.”

Condo buyers seem to be streaming back to the property market

Losing the stepping up of prices at sequential launches of residential property

“This effect was observed not in those Q3/2018 launches but for those done in November. In prior cycles, the norm was for developers to price subsequent launches higher. However, after the July cooling measures, developers appeared to adopt a more cautious stance and moved away from the old practice. We see that at play at Whistler Grand.

Although the median price achieved on the weekend of its launch was almost similar to Twin View’s (a neighboring project) launch price in May 2018, it was nevertheless placed significantly to the left of our model’s mean price. That strategy paid off because the developer managed to sell over 22% of the total number of units in the first weekend of
launch…

Although we believe that the market is still resilient against the backdrop of cooling measures, there are challenges ahead.”

Private residential properties prices increased marginally in Q3, URA statistics

Savills research report said that demand for residential property exists so long as pricing is in line with the attributes of the development and consumer sentiment remains strong. It added that developers will have to price the residential property with greater finesse, taking into account commission rates as well.

“Price  undercutting may not generate the required sales levels because the cooling measures have affected the rate of sales, which is not necessarily price sensitive.

For instance, we are finding more HDB dwellers, who hitherto had not considered moving to private properties, now considering that option. However, it takes time, rather than a consideration of how high private residential prices are, for these households to make that decision to sell their HDB flats.

Ultimately, it now comes down to whether developers of large projects have the steely resolve to hold their ground and not give in to the noises generated by those in the negative quarters.”

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To ECHELON and beyond, here’s what has this ecosystem builder achieved in 2018 to support the tech and startup industry

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Welcome to the e27 Tea Talk, where we talk about everything startup ecosystem. And this time, OURSELVES.

It’s about the time of the year when we sit side by side in the meeting room to not just look at the end result of each person’s OKR but as a company how much we have achieved this year.

The way we reflect upon ourselves is not about how many events or press releases we have held or published, but how many startups we have helped showcase and connect; how many corporate and government projects we have assisted to promote and complete; and how many key stakeholders we have managed to engage with each other, and usually, through ECHELON.

This year, however, is a bit different.

In 2017, one of our key objectives was to go deeper into the major ASEAN communities, which led to the resounding success of ECHELON Malaysia, Thailand and Asia Summit (Singapore). Although, there were still some key markets we didn’t bring over ECHELON to, we still managed to connect and engage with over 7000 regional key stakeholders in the end.

Moving to 2018, we shifted our focus into going deep AND wide since we realised if we want to better serve the ecosystem, depth and width are the keys to abundant resources for our partners. Hence, we renovated the Programme Roadmap into 1 ECHELON in Singapore and 17 country Roadshows across Asia Pacific to host TOP100 startup pitching competition.

The result was fascinating — while the latter provided us the opportunity to expand widely to scout 800+ most promising and unicorn-to-be startups in the region, the former enabled us to bring back crucial insights, connections, fundings and talents, wrapped up on our main stage at ECHELON Asia Summit, to empower the ASEAN ecosystems in-depth by aggregating the necessary resources.

With the streamlined year-round programmes, we are proud to announce that this year, together with ECHELON Asia Summit 2018 and 17 APAC Roadshows, we have created a platform with over 10,000 key ecosystem players to participate and grow their businesses.

And this is just the beginning of our story in 2018.

Thanks to the ever-growing team and more focused programme angle this year, ECHELON Asia Summit 2018 not only ended as a great sensation by bringing in the largest ever crowd throughout ECHELON’s 9 years history, but it also provided us with greater resources and gateways to tap into and work with other ecosystem programmes and initiatives in Q3/Q4 2018.

Also read: Echelon officially announces May 23rd and 24th for the best tech event of the year!

Here, I would like to take this opportunity to share some of the most exciting Bespoke Programmes we have done to further support our ecosystem partners after end of ECHELON Asia Summit 2018:

1. Bespoke Event: Xero Event

The beauty of digitalisation is that it makes our lives a lot easier by giving us seamless connection of daily necessities, easier access to insightful open resources and convenient platforms for communication and professional services.

This event, co-hosted by Xero, is set to share how digitalisation (or go digital) can benefit us from a business owner’s perspective to share about the entrepreneurship journey; and an enterprise service provider’s point of view to talk about about how a well-designed service platform can solve business pain-points, in this event’s case – cash-flow management.

2. Demo Day: GCCEI Demo Day in SG & KL

To keep it up with the fast-pacing and growing global startup industry, we have been reaching out to some other key markets across APAC. Among them, Korea is one of the markets that we have formed the robust partnerships with some local ecosystem players.

As a strong 3C digital devices manufacturing country, Korea has strong internet connection, established technology infrastructure and mature markets with well-heeled shoppers and sufficient capital funding to facilitate the growth of domestic and overseas tech startup industry.

This year we inked collaboration with GCCEI, a joint startup initiative with Korea government and Telecom-funded agency, to assist them in holding a Demo Day to showcase 10 Korean IoT startups in Singapore and Malaysia to get exposed with ASEAN startup environments and investors to gain an understanding on how to tailor and localise for other markets.

3. Conference Co-organising: SWITCH 2018

In e27, we have 4 main fundamental resource pillars – insights, connections, talents and fundraising (ICTF). ICTF is our basic yet holistic infrastructure’s that we firmly believe will be able to complete our mission as a whole to service other ecosystem stakeholders.

Also read: Our 4 takeaways on Echelon Asia Summit 2018, from the team at Tagtoo

With ICTF, we, as one of the event organisers, were able to hustle and assist the preparation of Singapore Week of Innovation and Technology (SWITCH 2018), organised by National Research Foundation Singapore (NRF) and Enterprise Singapore (ESG), along with 3 event organisers, and hit a total of 11,000+ attendees, 47 partners, 17 concurrent events on stage, 350+ exhibitors across 70+ countries.

SWITCH is indeed the greatest annual tech and innovation feast in the ASEAN markets with 3 main focuses to support and empower the regional key stakeholders:

  • Bring together and bridge the ASEAN and Chinese tech industries
  • Focus on Deep Tech to further facilitate the growth of Singapore Smart Nation
  • Host Slingshot pitching competition to have 80 companies shortlisted from 1,000 startups from across APAC 80 countries to pitch

The amazing part about SWITCH is that it’s not just a NRF or ESG event, it’s an initiative backed by various stakeholders across the whole tech and innovation ecosystem from governments, corporates, investors, media, IHLs, all the way to 400+ volunteers who were there to support the tech innovation and witness the changes onsite.

A friend of mine once said, “Any great event will take a village to pull off.” Well, in SWITCH case, it’s the whole ASEAN nations to proactively and wholeheartedly spare their efforts to play a role, regardless of sizes of organisations or titles of positions, in the tech and innovation sector to shape the world together.

So what does it have to do with me?

The point is — allow me to reiterate this again — help is out there at e27! As we have been honing in on our capabilities to partner with more ecosystem players, e27 has expanded our project landscope from mostly ECHELON (or related) initiatives to some standalone bespoke programmes to make sure we can serve our ecosystem comprehensively.

In this article, we would like to both share with you the great achievements we have done throughout the year and also thank you for the continuous supports. Hopefully, we will see you at Roadshow, ECHELON and all our bespoke programmes in 2019. If you have any feedback or crazy ideas to share with us and help us improve, let us know in the comments below or feel free to reach out to us at [email protected] to explore any possible collaborations!

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e27 Tea Talk is the column managed by the e27 Business Development Team. We hope to see you join in on stimulating discussions and constructive feedback as we navigate through the startup journey together. 🙂

The post To ECHELON and beyond, here’s what has this ecosystem builder achieved in 2018 to support the tech and startup industry appeared first on e27.

Source: E27