Some HDB flat sellers use new public housing model to push up asking prices
WHAT IMPACT Does Selling PRICES HAVE?
There have been rumors that Plus apartments might be available in Bayshore, a brand-new housing land and nbsp where two new BTO jobs may be launched the following year. HDB hasn’t already specified the precise location of these Plus apartments, though. & nbsp,
Selling apartments in potential Plus areas like Bishan have increased in the last one to two decades, even before the announcement of the new sorting, according to Ms. Tay.
According to her,” People are still thinking about good connectivity resale HDB( flats ) versus the rest of their other basket of options.” & nbsp,
Prices of nearby apartments increase” rather significantly” when BTO condos are launched in Prime locations, a classification that was established in 2021 to identify the most desirable and central locations. & nbsp,
She said that the pattern might continue in the future when it comes to Plus type properties. & nbsp,
Homes in desirable locations include those in Bukit Merah, Queenstown, and Kallang / Whampoa. & nbsp,
The supply of new BTO apartments will have an impact on the selling prices in future Plus defined areas, according to Ms. Christine Sun, senior vice president of study and analysis at the real estate company OrangeTee & amp, Tie.
The type of apartments the state does offer under the Plus unit, the number of new apartments offered, and their price range will all have an impact on them, she said.
” We might possibly experience a more negative effect on the resale industry in that area if they release lots of supply in those places. As a result, she said, charges in that area may also tend to grow more slowly, stabilize, or even fall in some places.
A FEELING OF Intensity
There is a feeling that prospective clients like Marcus Lim and Tris Marlis, who are looking at the resale industry after two years and six unsuccessful attempt to purchase s rented BTO apartments in desirable locations, should purchase homes in possible Plus sites as soon as possible so they won’t be entangled in real estate restrictions. & nbsp,
Selling agents have suggested that the price of the apartment being viewed may rise once the new classification takes effect, Mr. Lim said, adding that” We saw some listings … indicating that it’s the last chance, giving some sort of urgency.”
According to Mr. Lim, the agents’ description makes sense to him, and the urgency increases when a smooth receives many additional viewings.
The pair, who is looking for a four – or five-room apartment in the city center that is between 1, 100 and 1, 200 square feet, added that there are other reasons they want to purchase their house as soon as possible.
” In the areas that we are looking at, the offer is constrained. Therefore, we also don’t want to miss out on our ideal residence, Ms. Marlis said.
Country Garden: China property giant default fears grow
shabby graphicsCountry Garden, the largest private estate developer in China, is thought to be the most recent real estate juggernaut to default on its international loan.
A default would be one of the largest corporate debt restructurings in the nation, with the company owing$ 11 billion(£ 9 billion ) in debt and another$ 6 billion in onshore loans.
Its potential definition raises questions about China’s ability to recover from the pandemic.
China’s real estate market, which makes up a fourth of the business, is experiencing significant problems.
According to the most recent statistics, the nation’s economy expanded 4.9 % in the three months between July and September. Compared to the 6.3 % growth in the second quarter, that is slower.
Despite Beijing’s efforts to increase cover need, the number of home sales is also lower than it was last year.
According to the most recent data, the nation’s real estate investment decreased by 9.1 % during the first nine months of the year.
According to Raymond Cheng, Standard Chartered’s North Asia main purchase officer,” This will spark our worries about the housing market in China.”
In order to regain confidence and trust in the market, markets will probably seek a more coordinated policy approach, Mr. Cheng continued.
When new regulations to regulate the amount of money that large real estate firms may acquire were implemented in 2020, China’s housing market was rocked.
With a number of other developers defaulting on their debts and abandoning empty construction projects across the nation, the government’s property industry has been affected by its economic issues.
China is also dealing with different issues, such as slow economic growth, rising regional government debts, and record-high youth unemployment.
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Pension reform a potential powder keg in Vietnam
In order to prevent workers from giving up their retirement and first withdrawals of their cultural insurance premiums, Vietnam is changing its legal framework regarding the benefit of disability. Stock workers, many of whom have turned to withdrawing social insurance rates to deal with financial hardship, are concerned that the proposed changes could lead to anger.
Employers and employees are required by law to give their cultural insurance premiums, which cover pensions and other benefits like maternity leave. People can claim their cultural plan advanced as a lump sum under one of the following circumstances: when they quit their jobs and stop making contributions to the Social Insurance account for one month.
Since the 2010s, a growing number of people have submitted says under this condition for the lump sum payment & nbsp. More individuals choosing to settle out of the program will increase the burden on the state to provide care and support for these individuals in their old time because the income is a crucial component of societal coverage.
The government acknowledged the importance and complexity of early withdrawals in its most recent report & nbsp to the National Assembly regarding the revised draft law. The challenge is how to effectively lessen the number of first transactions in the upcoming years without upsetting the workforce. & nbsp,
The state would prefer not to go through what happened to the updated law in 2014, which sparked thousands of worker protests and failed to have an impact.
The draft law andnbsp makes a number of proposals to restrict earlier withdrawals and maintain longer-term enrollment in the social insurance system. One of these restrictions restricts first withdrawals of up to 50 % of a person’s overall contributions, leaving the remaining funds in the state-managed social insurance account.
People have eagerly seized the chance to speak up as the state extremely opens the room for common wedding with law and policy problems.
Many opinions have supported employees'” right to decide” on their cultural insurance benefits during public discussion and disputes about the draft legislation. This argument acknowledges that workers frequently think of their cultural insurance benefits as specific savings to which they are entitled when necessary.
The reasoning is predicated on factory workers’ precarious living and working conditions who work in trade sectors like the clothing, shoes, and other processing industries. Low wages and finite savings have put many people in financial straits when they lose their jobs, frequently as a result of & nbsp, disruptions, and fluctuations in the global supply chain. & nbsp,
Many workers are compelled to” retire” in their 40s because the assembly industries favor young people. Since they cannot wait until they reach the lawful retirement age to receive the pension, they are also likely to pursue early departure.
To support employees’ right to choose their own cultural insurance benefits, the state is also cited for its lack of transparency in the administration of Social Insurance funds and its failure to condemn businesses for their legal violations.
By reducing the maximum amount of contributions required to receive a annuity from 20 years to 15 years, the constitutional revision also aims to make pensions more affordable. The regular income allowance that a standard retired worker receives, however, falls short of their living expenses, which presents another challenge. & nbsp,
It is challenging for them to be eligible for the highest level of income benefits because of their lower wages and comparatively brief periods of full employment.
Many people have urged the government to think about more significant changes that would address these issues, such as lowering the & nbsp, the legal retirement age, and the NBPSP for industrial workers, changing the methods for the NHS, calculating the pension allowance, increasing benefits for those who participate in social insurance, etc.
Given that constitutional retirement age fall under the purview of the Labor Code rather than the Law on Social Insurance, it is unlikely that these tips will be adopted. While increasing benefits for those who participate in social plan is consistent with the general goal of reform, it is not currently the top priority of constitutional reform.
The number of lodgements for early withdrawals & nbsp is increasing as the draft law is expected to be discussed in the upcoming National Assembly session. Before the new law goes into influence in 2025, there have been studies and reports of numerous staff quitting their jobs in order to be eligible for the lump sum. & nbsp,
Workers are increasingly hesitant to claim the cash while it is still available due to potential changes that will probably limit first withdrawals.
People have drawn attention to continuous policy issues and suggested changes that go beyond the purview of the revised draft law in their discussions of social insurance issues. Past encounters have demonstrated that the Asian government is comparatively open to meeting citizens’ needs in order to preserve social stability. & nbsp,
The state will need to think about how accommodating it should be in balancing its goals with the objectives of its people because social healthcare law targets a sizable group of recipients.
Tu Phuong Nguyen holds an complement fellowship in social sciences at the University of Adelaide.
This andnbsp, post, and was originally published by East Asia Forum and are being reprinted with permission from Creative Commons.
Thai travellers warned to be safety conscious
18 October 2023 at 13:23 PUBLISHED
Thai travelers have been forewarned by the Foreign Affairs Ministry to stay away from conflict zones and protests regarding the Israeli-Hamas battle for their own safety.
Please take steps, following announcements from local authorities, and been carefull entering, or prevent, areas that are the issue of warnings when there is a combat situation in Israel and discord between groups of people, representative Kanchana Patarachoke said on Wednesday.
The travel advice came in response to current advice from the Thai offices in Paris and Brussels to Thais to stay away from crowded places in both cities.
Following new explosive hazards in France, the Thai embassy in Paris advised taking measures on Tuesday. Thais were advised to stay away from filled places by the Thai consulate in Belgium.
The government, according to Ms. Kanchana, is not forbidding travel abroad because it is a private right. But, in case they require assistance, Thai travelers should be prepared with the contact information of the appropriate Thai offices.
” We advise being cautious and paying attention to data provided by local government and offices.” No one is prohibited from traveling by us. Vacation can go on. However, when there is a situation,( travelers ) must decide where to go and stay away from areas with crowds or conflict ,” the spokeswoman said.
US preparing for a two-front China-Russia war
A recent US Congress report urges a strategic defensive posture review of simultaneous near-peer conventional and nuclear threats.
This month, the Congressional Commission on the Strategic Posture of the US released a report urging the country to be prepared for a two-front conflict against China and Russia.
The report says that US defense strategy and strategic posture must change to properly defend its vital interests and improve strategic stability with the two nuclear-armed adversaries while advocating that critical decisions should be made now to address nuclear threats expected to arise during the 2027-2035 timeframe.
It also assessed that the US needs to address the looming nuclear threat with a comprehensive strategy and force structure adjustments. Although it says the fundamentals of US deterrence strategy remain sound, size and composition adjustments are needed to its nuclear capabilities.
The report also emphasizes the importance of non-nuclear capabilities for the US strategic posture, including strengthened infrastructure and risk reduction efforts. It notes allies and partners are crucial to the US approach in the new emerging threat environment.
The report recommends that the US Congress fund the expansion of the US nuclear weapons defense industrial base and the Department of Energy (DOE)/National Nuclear Security Administration (NNSA) nuclear security enterprise. It also suggests that Congress should ensure funding stability for the defense industry to respond to innovative Department of Defense (DOD) contracting approaches.
The report’s recommendations include deploying a stronger space architecture with offensive and defensive elements, prioritizing funding for long-range precision strike programs, developing homeland missile defense systems and transferring missile defense responsibility to the Military Departments by October 2024.
The report says that the US should maintain and strengthen its network of alliances and partnerships to deter aggression, ensure regional security and boost economic prosperity through access to international markets.
It warns that withdrawing from these relationships would benefit adversaries, increase the risk of aggression and reduce the US and its allies’ security and economic prosperity.
It also recommends exploring nuclear arms control opportunities and researching potential verification technologies to support future negotiations in the US national interest that seek to limit all nuclear weapon types.
The foundation of US national defense, including the defense of allies and support of military operations, is based on the concept of nuclear deterrence that has been in place since 1945.
In a January 2023 article for the US Naval Institute, Daniel Post outlines the value and limits of nuclear deterrence. Post says that the unparalleled destructiveness of nuclear weapons underpins their deterrent value, making them desirable to acquire alongside conventional military capabilities.
Given that, he says the US nuclear strategy must aim at manipulating the rational calculations of adversaries by understanding how its capabilities are perceived by the other.
Post also says nuclear weapons are useless to coerce other states but are effective when held in reserve as a defensive capability, denying benefits and imposing costs on aggressors once deterrence has failed, noting that they deter nuclear and other major strategic attacks on the US and its allies and major state-on-state wars between nuclear powers.
Along with nuclear deterrence, conventional deterrence is more applicable to a broader range of circumstances, has greater flexibility than nuclear weapons and is not subject to the political constraints of the former.
Robert Haffa Jr argues in a 2018 article for Strategic Studies Quarterly that the US should reinforce the logic of conventional deterrence as a central concept of its defense policy. However, Haffa points out that the main issue with conventional deterrence is its tendency to fail. Given that, he says Cold War-era conventional deterrence strategies are inadequate for today’s great power competition.
According to Haffa, a modern approach to deterring US adversaries should focus on non-nuclear threats, be intense and overwhelming in threat, focus on US and allied strengths and adversary weaknesses, and be able to punish, deny and utilize advanced technologies and weapons systems across the globe.
China and Russia have multiple approaches to negate US nuclear and conventional deterrence, running a spectrum between threatening to use nuclear weapons and unconventional means.
In a September 2022 article for the Heritage Foundation, Patty-Jane Geller says that China’s growing nuclear forces could potentially increase the risk of unintentional escalation.
Geller says that if China perceives a favorable nuclear balance of power over the US, it may become more tempted to use nuclear weapons in a conflict. She also says that if the US lacks tactical nuclear capabilities, China may perceive a US response to limited nuclear use in the Indo-Pacific as unreliable.
She notes China’s nuclear arsenal expansion, including the acquisition of delivery methods that can threaten the US homeland, could weaken US extended deterrence commitments, making the US less willing to defend its allies. This situation, coupled with the risk of unintentional escalation due to miscalculations or mistakes, increases the potential for a Chinese nuclear strike, Geller argues.
In terms of China’s challenging of US conventional deterrence, Andrew Erickson writes in the 2023 book “Modernizing Deterrence: How China Coerces, Compels, and Deters that the conventional missile component of the People’s Liberation Army-Rocket Force (PLA-RF) is increasingly important in China’s deterrence and warfighting, supporting the goal of achieving information dominance, command of the air and control of the sea to thwart a US and allied intervention in Taiwan.
Erickson says that PLA-RF doctrine anticipates and seeks to respond effectively to strategic, operational and technical trends. He notes that such trends may include the ability for rapid global precision attacks, placing more stress on mobility, rapid reaction, force survival and protection, and developing penetration aids.
In the case of Russia, Lydia Wachs notes in a November 2022 article for Stiftung Wissenschaft und Politik that with Russia’s dwindling arsenal of conventional precision weapons and NATO’s strategic adaptation, Russia’s strategy is likely to change, with an increase in reliance on tactical nuclear weapons. Wachs notes that Russia’s perceived conventional inferiority compared to US precision strike capabilities has driven Moscow’s increased reliance on tactical nuclear weapons.
She says that the increased role of nuclear weapons in Russia’s deterrence strategy and strengthened posture in areas bordering NATO could weaken European security and stability. Wachs says this could exacerbate Moscow’s threat perception and influence escalation dynamics, impacting the stability of potential crises between NATO and Russia.
She adds that if Russia’s reliance on non-strategic nuclear weapons increases, Moscow’s appetite for arms control on short- and medium-range missiles will likely erode further.
In terms of conventional deterrence, Tim Sweijs and others write in a January 2022 report for the Hague Institute of Strategic Studies (HCSS) that Russia poses a hybrid threat to NATO and Europe through using proxies, covert activities, cyber capabilities, political subversion and economic influence.
In conjunction with that, Ruben Tavenier notes in a February 2018 article for the JASON Institute for Peace and Security Studies that Russia uses a combination of non-military (covert) and military (overt) deterrence to destabilize adversaries, limit potential threats and guarantee victory in a potential conflict.
Tavenier mentions that Russia accomplishes those ends by deterring, coercing or containing an adversary by destabilizing it covertly and reducing its military, political and economic capabilities.
Given the near-peer challenges facing the US deterrent posture, Doreen Horschig and Nicholas Adamopoulos write in an article this month for the Center for Strategic and International Studies (CSIS) that the US should consider a Conventional-Nuclear Integration (CNI) strategy that emphasizes greater coherence between conventional and nuclear forces to manage escalation in regional conflicts, develop integrated options to strengthen deterrence and deny adversaries any advantages gained by nuclear use in a regional conflict.
Horschig and Adamopoulos believe that CNI can improve the resiliency of conventional forces in nuclear war by dispersing operational bases, improving operational capability in potentially contaminated environments, and hardening of command, control and communications (C3) systems.
This way, they say, adversaries will be deterred from limited nuclear escalation, thus ensuring that US and allied forces can still achieve their warfighting objectives.
Such a strategy, Horschig and Adamopoulos say, can give decision-makers more flexibility and reduce the prospects for a limited nuclear war. However, they also point out that CNI blurs the lines between conventional and nuclear forces, thereby increasing the risk of nuclear escalation.
Mark Lee reveals Money No Enough 3 co-star Henry Thia’s spending habits: ‘He doesnât even know what he buys’
Before reuniting on the set of Jack’s The King of Musang King, which aired during Chinese New Year in January this year, it had been 13 years since the trio got together to work on a project.
However, when seated in the same room, it was clear as day that their bond remains as steadfast as ever. As Mark put it: “The chemistry is still there”.
We would be lying if we said we weren’t expecting something hilarious when we posed this question to the three of them: “If your ‘money no enough’, which of your other two cast mates would you approach to ask for a loan?”
Without missing a beat, Mark quipped: “No lah they very poor one. I won’t call them. But if I had to choose one, it’ll be Henry. Jack has lots of instalments to pay. Henry doesn’t, so of course I’ll call him lah.”
Henry immediately extended his arms dramatically and announced: “Welcome to my storeroom.”
See, they lived up to our expectations.
Mark continued: “He’s got a lot of extra money you know, he goes to Taobao to buy all the rubbish! He doesn’t even know what he buys. If he has a cash register in his storeroom, he can start a business there. Can you imagine he stays in a HDB flat, but he bought the kind of industrial saw people use to make furniture?”
As Henry started to tell us he “likes making things”, Mark interjected with: “He likes to make noise! (And) disturb his neighbours!”
Another of Henry’s impulse purchases? A small tabletop air conditioner which cost him “50 to 60 dollars”.
It was one of his most regrettable buys as it did not work as advertised.
According to Mark, “A fan is colder than the air-con”.
“I used to be an air-con (technician) leh. I still believed the air con could work (despite it being) so small. How stupid am I? I go and buy, I turn it on, it’s a heater,” Henry complained.
Despite being “scolded” by Mark for making the useless purchase, Henry revealed he still spends “S$1,000 a month buying things online”.
He then asked his assistant to bring him his latest gadget, a pen-sized acupoint massager, so he could show us how it worked.
“This is for massage. I see people using it so I bought it lor. My eyes kept twitching, so this is supposed to help with it,” said Henry, pressing the massage pen against his neck.
While we can see Henry’s head vibrating, Mark told us: “Actually his eyes are still twitching now, but his head is shaking, so you can’t tell.”
Jack added: “He’s easy to cheat, as long as you bring out the funny gadgets.”
And that was the hardest we ever laughed during an interview.
This story was originally published in 8Days.
For more 8Days stories, visit https://www.8days.sg/
Srettha invites Putin for official visit
18 October 2023 at 12: 18 PUBLISHED
BEIJING – Srettha Thavisin, the prime minister, announced in Beijing on Wednesday that he had invited Russian President Vladimir Putin for a formal visit the following month.
Putin is now living in international isolation as a result of Russia’s invasion of Ukraine, and he has several friends.
In connection with the alleged deportations of thousands of Ukrainian children to Russia, the International Criminal Court ( ICC) has issued an arrest warrant for Putin.
Thailand chose to continue working with Russia despite not being a status party to the ICC Rome Statute.
On Tuesday night, Mr. Srettha and Putin met outside of China’s Belt and Road Initiative( BRI ) forum to talk about fostering trade and cultural ties.
Mr. Srettha said on Wednesday,” I invited him to visit Thailand following time.”
President Putin said, referring to a Thai beach island,” President Putin likes Phuket, I understand he travels frequently.”
Putin has accepted the invitation, according to a declaration from the Thai government, but no time has been determined.
According to the TASS Russian news agency, Putin lamented the decline in bilateral trade caused by a” stormy global position” during the conference with Srettha.
This time, more than a million Russians traveled to Thailand, which depends on hospitality.
Russians can now visit Thailand for up to three months, an boost from 30 days, thanks to recent changes to its immigration policies.
At a UN General Assembly voting last year to denounce Russia’s annexation of portions of Ukraine, Thailand joined China and India in abstaining.
India aims to send astronaut to the Moon by 2040
shabby PicturesBy 2040, India hopes to have an astronomer on the moon, according to the authorities.
Plans for a place place by 2035 are another part of the nation’s place objectives.
These goals were revealed by Prime Minister Narendra Modi on Tuesday, along with a request for researchers to operate on Venus and Mars operations.
The Gaganyaan project, which aims to send a human crew to an orbit of 400 km( 248 miles ) and bring them back safely to land in Indian waters, is also being worked on by the Indian Space Research Organization( Isro ). The space company may run a crucial goal check on Saturday.
Before the final manned goal takes place before the end of 2024, this will be followed by another test aircraft carrying a machine into place.
Learn more BBC reports about India here:
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MasterChef Singapore winner Inderpal Singh and fellow contestant Reuben Wong collaborating on brunch pop-up
Other food that will be served include loaded pakora( veggie patties ) and stuffed chicken wings. You can view the entire list around. You must guide message Singh or Wong on Instagram using your chosen slot number in order to participate in the brunch.
In an interview with 8Days, Singh stated that they are” running the pop-up as a test to see if Singaporeans will listen and understand the flavors” and that, in the event that it is incredibly successful, they plan to open their own restaurant.
PM: Thai toll up, global concern rises over Israel
18 October 2023 at 11:48 PUBLISHED
Thais in Israel should determine right away if they want to leave, according to Prime Minister Srettha Thavisin, who has also issued a warning about the situation there and the fact that there are currently 30 Thai deaths.
” The risk rests with you, so I would like those who are confused to make a decision right away. The state has a responsibility to do its best to leave citizens as quickly and safely as possible if you want to return, Mr. Srettha said on Wednesday in Beijing.
The most recent review of another Thai death in Israel, bringing the total to 30, he said, saddened him. The number of injuries and kidnappings remained constant at 16 and 17.
Mr. Srettha claimed to have spoken with UN Secretary-General Antonio Guterres, who expressed shock at the number of Thai life lost in Israel.
The damage is the second-highest after the US, according to the prime minister, despite Thailand not being a conflicting group. To enter China’s Belt and Road Forum for International Cooperation, he is in Beijing.
Mr. Srettha claimed that when he met with other regional leaders in Beijing, they were most worried about the state of Israel.
He claimed that although the Thai authorities was able to remove 600 Vietnamese workers from Israel every day, it was challenging to bring that many people together at once given the current situation.
The air pressure Airbus left Bangkok on its subsequent flight on Wednesday night to pick up Thais in Israel. On Thursday evening, the 340-500 was expected to return with 145 residents.
8 160 Vietnamese staff in Israel had declared their intention to return home, according to the Labour Ministry, but 111 others stated that they preferred to stay.
When the most recent fight broke out on October 7, there were about 30,000 Vietnamese staff in Israel. Currently, more than a thousand have been returned home.