Singapore and Malaysia must follow terms of water and HSR agreements, says PM Lee

TODAY

By Faris Mohktar

20 August, 2018


SINGAPORE – While Singapore appreciates the new Malaysia government's reasons to review and change various policies of the previous administration, Prime Minister Lee Hsien Loong made it clear on Sunday (Aug 19) that both countries have to adhere to agreed terms relating to water prices and the Kuala Lumpur-Singapore High-Speed Rail (HSR) project.

Both issues have been sticking points in recent months, with Malaysia's Prime Minister Dr Mahathir Mohamad repeatedly saying that his country is selling water to Singapore at too low a price, and most recently, suggesting that it should be raised by at least 10 times.

Shortly after winning the May 9 general election, Dr Mahathir had also said that Malaysia wants to cancel the HSR project, though Putrajaya has since shifted its position to wanting to defer the project.

Commenting on both issues for the first time at the National Day Rally, Mr Lee stressed that the 1962 Water Agreement between the two neighbours is "sacrosanct".

"We must proceed strictly in accordance with its terms," he said.

About 6 in 10 withdraw CPF savings when they turn 55: CPF Board

By Jeremy Lee

28 August, 2018








SINGAPORE — About six in 10 members (58 per cent) aged between 55 and 70 have withdrawn cash from their Central Provident Fund (CPF) savings since turning 55. The median amount withdrawn was S$9,000, and the average amount was $33,000.

Releasing an analysis of CPF withdrawal trends on Tuesday (Aug 28), the CPF Board said the information was obtained from a Retirement and Health Study involving face-to-face interviews with 7,200 members aged between 55 and 70.

The survey was conducted to find out what CPF members did with their funds, if they cashed them out. Under existing rules, when CPF members turn 55, they may withdraw part of their CPF savings in a lump sum.

Malaysia won't let foreigners buy units in Johor's Forest City: Mahathir

27 August, 2018

TODAY


KUALA LUMPUR — Malaysia will not allow foreigners to buy residential units in the US$100 billion (S$134 billion) Forest City project in its southern state of Johor bordering Singapore, Prime Minister Mahathir Mohamad said on Monday (Aug 27).

The project has faced uncertainty since Tun Mahathir's coalition scored a shock victory at the May 9 General Election, as developer Country Garden Holdings looks to revive faltering demand for a city planned to be home to 700,000 people.

"One thing is certain, that city that is going to be built cannot be sold to foreigners," Dr Mahathir told a news conference in Kuala Lumpur.

"We are not going to give visas for people to come and live here," he added. "Our objection is because it was built for foreigners, not built for Malaysians. Most Malaysians are unable to buy those flats."

NDR 2018: Refreshing key policies, with goodies aplenty

TODAY

By Eugene K B Tan

20 August, 2018


Prime Minister Lee Hsien Loong’s National Day Rally (NDR) speech on Sunday (Aug 19) had one overarching message: That Singapore can continue to be an exceptional country, and one where the human spirit can flourish. Beyond that, with goodies aplenty, the NDR speech will fuel talk that an early surprise general election may be on the cards.

In the main, he sought to assure Singaporeans that his government is on top of bread-and-butter concerns such as costs of living, healthcare affordability, and public housing as an asset.

Furthermore, notwithstanding the looming dark clouds on the international stage, there is much to be optimistic about the future with trust and confidence between the government and Singaporeans.

Mr Lee not only made a stout defence of the government’s key policies but also demonstrated a resolve to rejuvenate them to maintain their relevance and effectiveness.

VERS announced at NDR 2018

NDR 2018: Scheme planned to redevelop more old HDB flats before leases end

CHANNELNEWSASIA

By Lianne Chia

 

19 Aug 2018

What the new housing announcements mean for the HDB resale market

By Christine Li

23 August, 2018

TODAY


The multi-pronged approach that the Government outlined this past week to resolve issues regarding the dwindling leases of HDB flats has by and large been well received by Singaporeans.

The new announcements by Prime Minister Lee Hsien Loong at the National Day Rally (NDR) could not have been more timely. Concerns over depleting leases have plagued the HDB resale market, with demand for ageing flats with leases of less than 60 years almost grounding to a halt. In some cases, home owners have had to reduce prices significantly before securing viewings.

In fact, over the last five years, the price gap between HDB resale flats and private properties has widened.

Based on the Housing Development Board (HDB) Resale Index and the Urban Redevelopment Authority Private Property Index, the gap between the two stands at 13.1 per cent in the second quarter of 2018.

Three key principles on how Singapore handles foreign policy and ties with Malaysia

TODAY

By Vivian Balakrishnan

10 July, 2018


Foreign Affairs Minister Vivian Balakrishnan told Parliament on Monday (July 9) that three fundamental principles underpin Singapore's foreign policy, and these are particularly pertinent in the Republic's ties with Malaysia.

The principles are: Upholding international law and respecting the sanctity of international agreements, resolving disputes in accordance with international law and maintaining Singapore's reputation as a credible and consistent nation that abides fully by her international obligations.

Below is a transcript of Dr Balakrishnan's parliamentary speech, in which he also touched on Malaysia's recent announcements that it was cancelling the high-speed rail project between Kuala Lumpur and Singapore and seeking a review of the 1962 Water Agreement between both sides.