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More than 5,700 BTO flats launched in last sale exercise of the year, including 1,500 in Bishan

aseanpr
4 minutes

SINGAPORE -A total of 5,795 Build-To-Order (BTO) flats have been launched for sale by the Housing Board (HDB) on Tuesday (Nov 17), in the final sales exercise for the year. These flats are spread across seven housing projects in five estates. The biggest housing project is Bishan Ridges, where 1,502 two-room flexi, three-room and four-room flats are on offer. The site in Bishan Street 14 is next to the Kallang River and about 400m or a five-minute walk from Bishan MRT station. Prices start from $374,000, without grants, for a three-room flat and $528,000 for a four-room flat. Prices are slightly higher than the 472 units in Bishan Street 11 launched in the August BTO sales exercise, likely due to its proximity to the MRT station. Prices of the flats launched in August started at $302,000, without grants, for a three-room flat and $484,000 for a four-room flat. The estimated completion date is in the second quarter of 2026, When The Straits Times first reported on the flats in Oct last year before the Covid-19 pandemic hit, the estimated completion date was 2025. Besides Bishan, the other flats are spread across the mature towns of Toa Payoh (Bidadari) and Tampines, and the non-matu...

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Businessman Mark Wee makes offer for Blumont at 80% discount

elean
2 minutes

SINGAPORE (THE BUSINESS TIMES) - Businessman Mark Wee Liang Yee has triggered a mandatory unconditional cash offer to buy out Blumont Group after acquiring from Ultimate Horizon a 50.8 per cent stake in the company. The transaction was done through the purchase of some 14 billion shares at 0.04 cent each. As a result, it is making a similar offer for the shares it does not already own at the same price. But unlike most offers which are at premiums to the prevailing trading prices, Mr Wee's offer carries an approximately 80 per cent discount to Blumont's share price, whether for the one-, three- or six-month period leading up to its last trading day before the offer. So far, Ultimate Horizon has undertaken to reject the offer for its remaining 29.5 per cent stake in the firm. Ultimate Horizon is owned by Malaysian businessman and non-executive chairman of Blumont, Siaw Lu Howe. It had in August 2017 launched a mandatory takeover of the company at 0.0182 cent apiece, but failed to amass sufficient acceptances to push the deal through. Blumont was one of the companies implicated in the 2013 penny stock collapse. The penny stocks trial is ongoing. Its latest annual report listed its bu...

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1,900 jobs on offer in growing electronics manufacturing industry since April, nearly all in PMET roles

aseanpr
4 minutes

SINGAPORE - The electronics industry continues to grow amid the coronavirus pandemic and there have been some 1,900 jobs on offer since April, the Ministry of Manpower (MOM) said on Monday (Oct 19). The vast majority of these jobs are for professionals, managers, executives and technicians (PMETs), with the majority in technical roles. Monthly salaries for manufacturing engineers in the sector range from $1,800 to $3,225, with a median of $2,575, while electronics or mechanical engineers would typically receive between $4,500 and $6,000. Those in non-technical roles, such as sales and marketing executives, could earn monthly salaries between $2,800 and $8,500, with a median of $3,450. Besides jobs, there are also about 850 company-hosted traineeships and attachments, as well as 150 training positions, on offer in the industry. More than 220 people were placed in jobs and traineeships in the segment between April and September. Of those who took up new jobs or roles, close to half were workers aged above 40. Speaking at a press briefing after a visit to semiconductor firm GlobalFoundries on Monday, Manpower Minister Josephine Teo said that while some may think that they need a techn...

JCN Newswire

Honda Announces Completion of the Tender Offer for Shares in Keihin, Showa and Nissin

ruth
2 minutes

TOKYO, Oct 16, 2020 - (JCN Newswire) - As announced in the press release issued on October 30, 2019, Hitachi, Ltd. (TSE: 6501, "Hitachi"), Honda Motor Co., Ltd. (TSE: 7267, "Honda"), Hitachi Automotive Systems, Ltd. ("Hitachi Automotive Systems"), Keihin Corporation (TSE: 7251, "Keihin"), Showa Corporation (TSE: 7274, "Showa"), and Nissin Kogyo Co., Ltd. (TSE: 7230, "Nissin") entered into the basic contract regarding a management integration on October 30, 2019, to conduct the management integration through implementation of the absorption-type merger in which Hitachi Automotive Systems (a wholly-owned subsidiary of Hitachi) will be the surviving company, and Keihin, Showa and Nissin will be the disappearing companies after making Keihin, Showa and Nissin wholly-owned subsidiaries of Honda through tender offers targeting the common shares of Keihin, Showa and Nissin (collectively, the "Tender Offer"). Honda announced that the Tender Offer commenced on September 2, 2020, was completed on October 15, 2020. For the results thereof, please refer to "Notice regarding Result of the Tender Offer for Shares of Keihin Corporation (Securities Code:7251)," "Notice regarding Result of the Tend...