Thursday, April 2, 2009

BTO: Office occupancy posts steepest fall since 1997

Business Times - 02 Apr 2009


Office occupancy posts steepest fall since 1997

Rents set to slide further after 18% average islandwide drop in Q1

 

(SINGAPORE) The islandwide average office occupancy rate slid 2.1 percentage points quarter on quarter to 93.6 per cent in Q1 2009, according to DTZ. This is the steepest quarterly fall since Q3 1997, when a decline of 2.6 percentage points was recorded.

 

The average office occupancy rate at Raffles Place was 92.9 per cent at end-Q1 2009, translating to the greatest quarterly decline of 2.7 percentage points since Q4 2004 when the occupancy rate fell 2.8 percentage points, DTZ said.

 

'Office occupancies in Anson Road/Tanjong Pagar and decentralised areas suffered even larger declines of 3.6 percentage points to 93.7 per cent and three percentage points to 95.2 per cent respectively, due partly to the completion of Murray Terrace and two transitional office projects - 11 Tampines Concourse and Mountbatten Square,' the property consultancy group said yesterday. Office vacancies are expected to rise further and rents will slide.

 

DTZ executive director Ong Choon Fah said: 'Office demand has almost collapsed. Substantial new supply is starting to come on stream from this year, followed by more supply next year and in 2011. In addition, there is competition from shadow space.'

 

Shadow space refers to excess space that companies try to sub-let. There was at least 106,000 sq ft of such space available for leasing in Q1, according to DTZ. 'This constituted only 2.9 per cent of the total vacant office space, but is expected to grow in the next few quarters as more companies are likely to return excess space to the secondary market through cost-cutting measures,' DTZ said. 'In addition, some companies which have pre-leased space in new projects completing within these two years are likely to sub-lease excess space as they further streamline business operations and intensify space usage.'

 

BT understands that Macquarie is prepared to sub-let some of the space it has signed up for at Marina Bay Financial Centre's (MBFC) Tower 2 under the project's first phase, which is slated to be ready in Q2 2010. Macquarie has taken more than 74,000 sq ft on levels 16 to 18 of the tower.

 

Market watchers said they would not be surprised if DBS Group too tries to sub-let part of the 700,000 sq ft it has leased at MBFC's Tower 3, in the project's second phase, given that it axed some 900 staff in November.

 

Elsewhere in Singapore, Citibank is said to be offering over 100,000 sq ft of shadow space at various locations, including Capital Square, Marsh & McLennan Centre and Millenia Tower.

 

DTZ executive director Angela Tan said: 'Shadow space, which usually comes with existing fit-outs and shorter lease terms, allows tenants to save on initial set-up costs and provides flexibility.'

 

Shadow space also emerged during the last office slump. According to CB Richard Ellis research reports, this amounted to more than one million sq ft at end-2002.

 

DTZ said the fall in office rents gathered momentum in Q1 2009, with an average decline of 18 per cent from the preceding quarter across the island. Prime office rents in Raffles Place dived 25 per cent quarter on quarter to an average of $12 psf per month in Q1.

 

Average office rents in Tampines Finance Park fell the most, easing 32 per cent to $5 psf per month amid an increase in supply emanating from the newly completed 11 Tampines Concourse and the availability of shadow space at Tampines Plaza.

 
 

STI: 'Super pill' could cut heart disease

April 1, 2009

'Super pill' could cut heart disease

Single pill being tested combines several drugs to reduce multiple risks

 

ORLANDO (FLORIDA): A new, cheap super pill that is being tested could help cut your risk of heart disease in half.

 

A trial in India has shown that this five-in-one pill, which combines low doses of aspirin and drugs that lower blood pressure and cholesterol, appears to be as effective as the individual medicines - and with no worse side effects.

 

The 'polypill' contains low doses of three medications against high blood pressure as well as simvastatin, which lowers LDL - or bad cholesterol - and aspirin, a known blood-thinner.

 

'We believe that the polypill probably has the potential to reduce heart disease by 60 per cent and stroke by 50 per cent,' said lead investigator Salim Yusuf from Canada's McMaster University, which conducted the study.

 

'The thought that people might be able to take a single pill to reduce multiple cardiovascular risk factors has generated a lot of excitement,' he told reporters at the American College of Cardiology's annual meeting, where the study was presented on Monday.

 

'It could revolutionise heart disease prevention as we know it.'

 

The 'Polycap' capsule that was tested was made by Cadila Pharmaceuticals. If such pills work as well as the study indicates, it could save tens of millions of lives around the world.

 

Heart disease is a leading cause of death worldwide, and some 80 per cent of heart disease cases are thought to occur in developing countries.

 

'The concept is simple. Several different drugs are available (generically and thus inexpensively) to treat many of the cardiac risk factors. So, combining them in one pill could reduce heart disease by 80 per cent,' said Dr Christopher Cannon, a Harvard University cardiologist.

 

While reports did not indicate how much the pill could cost, a separate British team that is testing a four-in-one polypill called the Red Heart Pill, say that it could cost as little as €15 (S$30) per person per year, reported the BBC.

 

The study by Dr Yusuf's team involved 2,053 patients, recruited from heart centres around India between March 2007 and August 2008.

 

In the three-month study, cardiologists compared the impact on blood pressure, cholesterol and heart rate of the polypill and the medications that make it up, taken individually or together.

 

The researchers found that blood pressure in participants who took the polypill dropped as much as it did in those who took a combination of blood pressure medications.

 

Those blood pressure reductions 'could theoretically lead to about a 24 per cent risk reduction in congestive heart disease and 33 per cent risk reduction in strokes in those with average blood pressure levels', the study said.

 

Side effects in patients taking the polypill were the same as when taking one or two medications, the study also found.

 

Dr Yusuf described the study as a critical first step for the design of larger, more definitive studies, as well as further development of appropriate combinations of blood pressure-lowering drugs with statins and aspirin.

 

'This approach has obvious appeal and vast implications for global health, because heart disease is the leading cause of death worldwide,' he wrote.

 

Critics, however, are still questioning the use of such pills for lifestyle issues, saying that high blood pressure and cholesterol should be tackled with diet and exercise rather than by simply popping a pill.

 

The British team testing the Red Heart Pill is also hoping to find out whether the polypill can actually reduce mortality.

 

Professor Simon Thom of Imperial College London, who is leading the team, said it would take at least five years before enough data can be obtained to persuade drug regulators to approve a polypill.

 

'Mounting evidence shows the polypill does exactly what it should, but no more, whereas exercise has wide reaching effects on health and well-being,' he was quoted by BBC as saying.

 

'So a polypill is an addition rather than a replacement for lifestyle interventions.'

 

AGENCE FRANCE-PRESSE

STI: HDB upgraders on the move

April 1, 2009

HDB upgraders on the move

More are buying new private condo units as prices come down

By Joyce Teo 

 

SEVEN in 10 buyers of new private homes in the first three months of the year had Housing Board addresses, making HDB upgraders the hottest group in the property market so far for this year.

 

This is the second-highest proportion of HDB upgraders since the earliest available data in 1995, according to property consultancy DTZ's preliminary analysis of caveats lodged in the first quarter. The record was 86 per cent, in the second quarter of 2002.

 

HDB upgraders refer to better-off residents of larger flats looking to move up the property ladder.

 

They typically buy into 'mass market' private developments - lower-priced condominiums in the suburbs, and preferably in the same town or region where they live.

 

In normal times, HDB upgraders account for between 20 and 50 per cent of new home buyers, DTZ said.

 

But experts reckon their numbers are now swelling during a rare 'window period' when the price gap between private homes and HDB resale flats is narrowing.

 

Supply has also played a key part in the surging interest, with mass market projects forming the bulk of recent launches, said DTZ's senior director for research Chua Chor Hoon.

 

Property consultancy CB Richard Ellis thinks many HDB upgraders held back from buying during the recent property boom, particularly as prices skyrocketed in 2006 and 2007.

 

There were few 'mass market' condo launches then, as developers rushed to build high-end homes and investors scooped them up.

 

But now, private property prices are falling sharply at a time when HDB resale flat prices are still holding steady.

 

Official data shows that while fourth quarter private home prices fell 6.1 per cent, HDB resale prices actually rose 1.4 per cent.

 

So HDB upgraders are now keen to sell their flats and upgrade to bigger units at reasonable prices.

 

For example, a HDB five-room flat in Queenstown can still sell for around $600,000.

 

At recent property launches, suburban condo units were going for around $600 psf. This means a 1,200 sq ft three-bedroom private condo apartment costs $720,000.

 

At Mi Casa in Choa Chu Kang, upgraders accounted for 80 per cent of its 97 buyers so far. They also bought many units at The Caspian, beside Lakeside MRT station, Double Bay Residences in Simei and The Quartz in Buangkok.

 

Corporate communications and marketing manager Adam Tan and his wife Ng Bee Kay are among the HDB upgraders.

 

'We looked at some properties in October but the prices were still a bit high. Then, my wife got pregnant in late November. So from January onwards, we started to search for a bigger place - with a vengeance,' said Mr Tan, 32.

 

The family will be moving from their four-room flat in Bedok into a $760,000, 1,195 sq ft unit at Astoria Park, next to Kembangan MRT station.

 

To attract buyers, developers of some ongoing launches slashed prices in the first quarter. The average price at Waterfront Waves in Bedok was reduced from $800 psf to $600 psf, while at Kovan Residences near Kovan MRT station, prices were cut from $880 psf to $750 psf.

 

Experts expect the gap between private homes and HDB resale flats to continue narrowing this year, which means this is likely to be a strong year for the HDB upgraders segment.

 

Unlike the previous downturn in 1996, HDB prices are less likely this time around to fall quickly in tandem with private property prices.

 

One reason is that the supply of new HDB flats is more limited now.

 

'Previously, HDB built public flats ahead of demand,' noted DTZ's Ms Chua. But it now builds only when there is demand via its build-to-order system.

 

With relaxed eligibility rules, there are also more buyers in the HDB resale market, including permanent residents and singles.

 

If current trends continue, the experts say, HDB resale prices should eventually fall by the end of the year in line with the bigger fall in private home prices.

 

joyceteo@sph.com.sg

BTO: Commercial property sector faces $20b issue

Business Times - 01 Apr 2009


Commercial property sector faces $20b issue

Sector seen having to deal with pressing issue of refinancing

By ARTHUR SIM

 

SINGAPORE'S commercial real estate sector, including the Reit sector, will have to deal with the pressing issue of refinancing $19-20 billion of debt this year.

 

Peter Mitchell, CEO of the Asian Public Real Estate Association, said about $11 billion can be attributed to commercial real estate companies and Reits, and the remaining $8 billion to non-listed vehicles such as private property funds.

 

Reits account for a small portion and he estimates only about four Reits here still need to arrange refinancing, he said.

 

Speaking at the Cityscape Connect Business Breakfast event yesterday, Mr Mitchell added: 'Reits have been affected like many other investment classes, but longer term, the model offers a number of attractions, including greater liquidity.'

 

One private property fund that faces refinancing this year is the Mapletree Industrial Trust (MIT), in which Arcapita has a 56.5 per cent stake.

 

Also speaking at the Cityscape event was Blake Olafson, director and head of real estate Asia at Arcapita.

 

Earlier this month, MIT said it would have to go back to its investors for a $140 million capital injection, largely because the valuation of its properties had fallen and a loan being extended was smaller.

 

Giving some insight, Mr Olafson said refinancing of a bridging loan to finance MIT's $1.71 billion acquisition of assets last year will be due soon, but whether MIT's investors will have to inject capital is not a certainty. 'This will depend on the banks,' he said, referring to the refinancing terms.

 

Mr Olafson thinks the industry here will take the credit crunch in its stride as there is more acceptance of low loan-to-value ratios.

 

He said that generally, higher equity ratios will help stabilise the market, unlike in the US where 95 or 100 per cent debt financing is the norm. 'In the US a 50-60 per cent loan is considered as no liquidity,' he added.

 

Alan Dalgleish, executive director of CB Richard Ellis, said: 'The overall quality of lending has been higher in Asia than some of the things that have happened in Europe and the US.'

 

While Mr Dalgleish believes in the long-term strengths of the property market here, he does feel there could be a residential supply overhang.

 

'We haven't seen the impact of the (collective sale) sites washed through the system yet,' he said, adding that this could take another two quarters.

 

He also believes there is a 'reality check' coming as more sellers accept that prices have to come down to levels acceptable by the market.

BTO: Q1 home price respite fails to impress

Business Times - 01 Apr 2009


Q1 home price respite fails to impress

In rental market, luxury monthly condo rents slide 18.8%

By KALPANA RASHIWALA

 

(SINGAPORE) The prices of resale private apartments and condos fell at a slower clip in the first quarter compared with the decline in Q4 last year, according to latest figures from DTZ.

 

However, the property consulting group is predicting price drops for the whole of this year to be just as sharp, if not sharper, than last year's declines as the recession bites and more new homes are completed.

 

Meanwhile, property consultants estimate that developers sold between 2,000 and 2,400 private homes in Q1 2009, the best showing since Q3 2007, when the US sub-prime crisis struck.

 

CB Richard Ellis (CBRE) said the top-selling projects in the primary market in Q1 were Caspian (550 units), Alexis (293 units), Double Bay Residences (250 units) and The Quartz (178 units).

 

It predicts developers will sell some 5,000 to 6,000 units for the whole of 2009, while DTZ puts the figure a tad higher, at between 5,500 and 6,500 units. Either way, it would be an improvement from last year's dismal showing of 4,264 units.

 

CBRE reckons that its predicted 10 to 15 per cent slide in private home prices across the board this year may encourage developer sales in the primary market.

 

DTZ said yesterday that the average price for luxury freehold condos and apartments in prime districts 9, 10 and 11 slipped 3.6 per cent quarter-on-quarter to $1,880 psf in Q1 2009, much milder than the 22 per cent q-on-q decrease in Q4 2008.

 

DTZ's senior director (research) Chua Chor Hoon is predicting a 25 to 35 per cent full-year drop, similar to last year's price fall of 30.4 per cent.

 

In the mass-market segment, the average price for 99-year leasehold condos/ apartments outside the prime districts eased 2.6 per cent to $555 psf in Q1, roughly half the 5.8 per cent depreciation in Q4 2008.

 

Ms Chua projects a full- year slide of 10 to 15 per cent, steeper than the 7.3 per cent decline last year.

 

Landed home prices were more resilient, with average price drops of 1.5 to 2.2 per cent in Q1, compared with declines of 3.8 to 5.8 per cent in Q4 2008.

 

'The leasing market bore the brunt of corporate downsizing and increased supply from new completions. 2008 saw the completion of 10,122 private residential units, 17 per cent more than the past 10-year average of 8,671 units.

 

'Some investors have resorted to renting out their units for the time being, hoping to sell when the market recovers,' DTZ said.

 

Average monthly rents for luxury condos and apartments in prime districts fell 18.8 per cent quarter-on- quarter to $5.20 psf in Q1 2009, a level last seen in Q3 2006.

 

Ms Chua is predicting full-year 2009 decline will come in at about 25 to 30 per cent, steeper than last year's 15.8 per cent fall.

 

Based on DTZ's figures, which are based on resale prices, the average freehold luxury condo and apartment price of $1,880 psf in Q1 this year represents a drop of about one- third from the peak of $2,800 psf in late 2007/early 2008.

 

In contrast, the average price of 99-year leasehold non-landed properties outside prime districts, at $555 psf in Q1 2009, has barely slipped 10 per cent in that period.

 

That's not surprising since luxury home prices rose much faster than mass-market homes during the run-up. As DTZ's Ms Chua points out, in 2007 alone, luxury home prices increased by 66 per cent, while mass-market home prices rose a more moderate 27 per cent.

 

DTZ says that falling construction costs will provide some leeway for developers to re-price their projects.

 

Says the firm's executive director (residential) Margaret Thean: 'Mass market and mid-tier launches will continue to dominate the primary market in 2009.'

 

Knight Frank managing director Tan Tiong Cheng observes that with the bigger slide in luxury home prices compared with other segments, the price gap has narrowed between high- end and mid-tier properties.

 

'Eventually, this will provide some support to the high-end-market. Once developers start launching luxury projects and somebody sets a price benchmark at attractive prices, buying should return to this segment,' Mr Tan says.

 

While foreigners and speculators who fuelled the run-up in luxury home prices have vanished, those who sold their homes in en bloc sales and who are still sitting on cash may be in a position to buy, he added.

 

DTZ's Ms Thean cautioned that despite the recent pick-up in developer sales, weak economic fundamentals will weigh down hopes of a sustained recovery in activity.

 

Those agreeing with this view say that the HDB resale market - which feeds the entry-level private residential market - is expected to slow down as unemployment worsens.

 

ERA Asia-Pacific associate director Eugene Lim predicts that the HDB Resale Price Index will probably rise just 3 to 5 per cent for the whole of this year, after a 14.5 per cent gain last year.

 

Still, most observers reckon that any eventual recovery in the private housing market will be bottom- up - emanating from the mass-market segment and fuelled by income-driven buyers - rather than a top-down effect from a surge in high-end prices generated by wealth-driven buyers as seen during the 2006-2008 bull run.

 

'The signal must come from the economy because we're still the tail and the dog is the economy, because that's where the incomes are derived, and property is always the tail end of the value chain,' as a major developer puts it.

STI: Sunshine all year round

March 31, 2009

insider tips: Nice

Sunshine all year round

Whether it's for business or leisure, you can always heat things up in France's second largest city

By deepika shetty 

 

With its blue-green sea, gorgeous coastline, splendid dining options, lovely Art Deco facades and great shopping, the French city of Nice has everything to offer visitors, says Mr Frederic Meyer, 39.

 

Mr Meyer, director of the French tourism board in South-east Asia, is currently based in Singapore.

 

It takes 1-1/2 hours to fly from Paris to France's second largest city, which is considered the undisputed Queen of the French Riviera or Cote d'Azur, located in the south-east of France.

 

From Nice, you can explore cities such as Cannes, Antibes, Grasse, Menton, St-Jean-Cap-Ferrat, Vence and St-Paul, all of which are synonymous with sunshine, good living and great cuisine, he says.

 

With 300 days of sunshine a year, Nice is a popular destination for leisure and business travellers. Here are his tips to exploring the city:

 

PUT ON YOUR WALKING SHOES

 

Start your Nice trip bright and early with a walking tour of the Cours Saleya Flower Market. The best time to visit is around 6am but no later than 8am, as there is nothing like catching the early-morning market buzz. On Mondays, this area becomes a flea and antique market. Make sure you have plenty of small change because stall owners have been known to turn down a sale when potential customers are carrying large notes.

 

Then stroll along the world-famous Promenade des Anglais (Walk of the English), a celebrated promenade along the Mediterranean at Nice.

 

If you are not tired, explore the old town with its typical alleyways, artists and craftsmen before heading up to the Colline du Chateau for a panoramic view of the Baie des Anges (Bay of Angels).

 

MUSEUM-HOPPING

 

Visit the Matisse and Massena museums.

 

Musee Matisse (164 avenue des Arenes, tel: +04-9381-0808, web: www.musee-matisse-nice.org) features drawings and paintings by celebrated French artist Henri Matisse. Two of his famous paintings, Still Life With Pomegranates and Flowers And Fruits, are displayed here.

 

The museum's permanent collection is displayed in a red-ochre 17th-century villa overlooking the olive-tree-studded Parc des Arenes. Its temporary exhibitions are held in the futuristic basement of the building.

 

Musee Massena (65 rue de France et 35 Promenade des Anglais, tel: +04-9391-1910, web: www.nice.fr) traces the history of Nice. On the first floor are three main galleries devoted to Nice from 1792 to 1914. The second floor hosts temporary exhibitions and has rooms devoted to musicians, writers and painters who had lived and worked in Nice.

 

Also, visit the Maeght Foundation (06570 Saint-Paul, tel: +04-9332-8163, web: www.fondation-maeght.com), a museum of contemporary and modern art. Situated at the foothills of the Alps, it combines natural scenic beauty with the whimsical works of artists such as Alberto Giacometti and Joan Miro. It houses one of Europe's most important collections of paintings, sculptures, drawings and graphic works from the 20th century.

 

DAY OUT AT CIMIEZ HILL

 

Cimiez is an upper-class neighbourhood in Nice. In Roman times, it was called Cemenelum. The area is home to the Henri Matisse Museum and the Roman Ruins, which include an arena, an amphitheatre, thermal baths and a basilica.

 

If you visit in July, do not miss the Nice Jazz Festival, which is held at the Roman Ruins.

 

SHOPPING

 

Nice has more than 600 shops, art galleries and craft studios.

 

Traditionally, all shops are closed on Sundays, with some closing on Mondays too. Unlike Singapore, shops do not open all day. Shopping hours are from 10am to noon and 2.30 to 7pm. For luxury brands and boutiques, head to Place Massena and Avenue de Verdun. Here, you can find department stores such as Galeries Lafayette and big brand names such as Hermes, Cartier and Armani.

 

If you prefer shopping in a mall, there is Nice Etoile, which has more than 100 shops.

 

Mr Meyer says that shopping packages to France and especially to Paris and Nice are available from Singapore as part of the Shop Till You Drop campaign.

 

Visit www.franceguide.com/sg for details.

 

FOOD

 

'You will be spoilt for choice when it comes to food. There are hundreds of restaurants in Nice and more than 3,000 in the French Riviera, many of which are world famous,' he says.

 

Do not leave without trying pissaladiere, which is an onion flan topped with anchovies and black olives. You should also try socca, a pancake made with chickpea flour, water and olive oil and baked over charcoal. Finally, do not miss bagna cauda, which is a dish of raw vegetables dipped in a blend of warm olive oil, garlic and anchovies.

 

'Go for the best of Nice's specialities prepared by chef Dominique Le Stanc. You will be in exceptionally good hands,' says Mr Meyer of the restaurant Keisuke Matsushima (La Merenda, 4 rue Raoul Bosio). Expect to pay about 90 euros (S$181) for a meal for two.

 

SUNDOWNERS

 

'You can't visit France and not enjoy the fine wines. I appreciate local wines such as Bellet, Villars-sur-Var and Cotes de Provence. You can enjoy your wine by the beach all day or choose one of the many bars in the city,' he says.

 

Opera Plage (30 quai des Etats-Unis), Beau Rivage (107 quai des Etats-Unis) and Castel (8 quai des Etats-Unis) are great places to enjoy your drinks.

STI: dr hols

March 31, 2009

dr hols

 

I am visiting my girlfriend in Milan, Italy, in November. What are the romantic places I can take her to? I am on a budget.

 

David Tay

 

ASA Holidays recommends a look-see around Lake Como. Located outside the city, just an hour's train journey from Milan, the place is gorgeous and quiet, with many beautiful and romantic spots. There are lakeside villas there, if you are interested in staying for a day or two.

 

The largest town, Varenna, has a lovely lakeside promenade as well as private alcoves with benches.

 

Also worth a visit in this town is a hilltop castle called the Castello di Vezio and two lakeside gardens, Villa Cipressi and Villa Monastero. At Castello di Vezio, see an exhibition on birds of prey and a flight demonstration by the falconer of the castle.

 

At the famous town of Bellagio, stroll along its narrow and picturesque streets, which are filled with colourful houses and decorated shops. Look out for little hidden passages with nice views.

 

Also found there is the Basilica of San Giacomo, a church built at the end of the 10th century. It is famous for its Roman-Lombard architecture.

 

Visit the islands of Lake Maggiore, Italy's second biggest lake. The Borromeo Islands - Isola Bella, Isola Pescatori and Isola Madre - are known for quaint terraced gardens, peacocks and pheasants.

 

What are some must-see attractions in Melbourne and its vicinity? And where are the good places to shop?

 

Joel Goh

 

Visit the Yarra Valley wineries, take in the city sights while dining at the Colonial Tramcar Restaurant and walk the streets of Melbourne to explore the lanes and arcade streets.

 

Queen Victoria Market, Melbourne's GPO and Melbourne Central form the Fashion Triangle. Here you will find more than 500 stores offering local and international labels.

 

Fashionistas, check out www.thatsmelbourne.com.au/Pages/Home.aspx for news of major events and fashion shows.

 

For short trips out of the city, spend a day admiring nature at the Grampians National Park, drive along the scenic Great Ocean Road, explore the winding roads around Mount Dandenong and enjoy a Puffing Billy Steam Train ride on the Dandenong Ranges Tour. Farther out, you can go on the Phillip Island Tour to view penguins, koalas and kangaroos.

 

I am an avid backpacker and plan to visit Tibet in June. Please suggest places where I can stay, things to do and attractions that I can view.

 

Eve Tan

 

If you are adventurous enough, ASA Holidays says it is possible for you to travel alone. But due to the language barrier, it is advisable to join a tour group.

 

Tibet is surrounded by some of the world's highest mountains. The Himalayas to the south, the Karakoram to the west and the Kunlun to the north - all are dream destinations for adventurers and mountaineers.

 

The region is also home to great rivers such as the Yangtze River, the Yellow River, the Lancang River which eventually flows into the Mekong River and the Ganges.

 

There are also more than 1,500 lakes. Check out Heavenly Lake Namtso, the highest saltwater lake in the world at 4,720m.

 

If you are interested in Tibetan Buddhism, visit the monasteries to look at the murals and sculptures.

 

The Yarlong Tsangpo Canyon, the largest canyon in the world, is home to rare plants and animals.

 

For souvenirs of your adventurous trip, pick up some handicrafts at Barkhor Street.

 

And of course, Mount Everest towers over the region and is a must-see, even if you do not plan to scale it. More than 40 snow-capped peaks are now open to mountain-climbing enthusiasts.

STI: Tour to eat

March 31, 2009

Tour to eat

Gastronomic tours around the region to taste local cuisines have surged in the past year

By cheryl tan 

 

When Mr Nelson Lee went on holiday in Hokkaido earlier this year, he packed more than just a digital camera to snap sights and a handycam to record activities. Just as importantly, he brought along a healthy appetite.

 

Unlike those who are enticed by the things to see and do on a vacation, the 26-year-old computer engineer was hooked by the mouth-watering line-up of speciality food such as Hokkaido crabs, sashimi and traditional Japanese steamboat. He paid more than $6,000 for himself and his girlfriend to go on CTC Holiday's nine-day tour to the northern-most Japanese island.

 

'The Japanese food and seafood in Hokkaido is so different from what we have here,' says Mr Lee, who put on nearly 3kg after his trip in February.

 

Such food-centric holidays have been available for about five years, but tour agents say people have been signing up in droves in the last year.

 

ASA Holidays has seen a 70 per cent year-on-year increase in the demand for such 'merged itineraries', which include sightseeing and food tasting. Its spokesman Louisa Chin says Singaporeans 'have a great passion for food' and are adventurous enough to 'try new tastes'.

 

The agency started to include food gourmet segments in its tours nearly three years ago. For example, its nine-day North Eastern China tour takes travellers to feast on locally flavoured and prepared ginseng chicken, roasted duck and seafood buffet.

 

Chan Brothers' slew of gourmet-themed holidays, including a one-day Peranakan food tour to Malacca and a six-day Taiwan Night Market Explorer tour, has seen a 30 per cent jump in sign-ups annually.

 

It also conducts tours to Kuala Lumpur and Chiang Mai for travellers to participate in cooking demonstrations.

 

Such Asian destinations in Malaysia, Thailand, Hong Kong and Vietnam are popular as these countries' 'cuisines are palatable for Singaporeans' taste buds', says Chan Brothers' spokesman Jane Chang.

 

CTC Holidays, which started offering food tours five years ago, adds Japan, South Korea and China to the list of Singaporeans' favourite eating hot spots.

 

Its first gourmet tours had local celebrities, such as comedian and food-lover Moses Lim, leading tour groups to Tohoku and Hokkaido in Japan to sample the local cuisines.

 

It now incorporates the food components into their normal tour packages, with the agency's local representatives making the recommendations.

 

Getting a taste of a destination's local cuisine does not come cheap. The food tasted on gourmet tours are usually in popular and more upmarket restaurants well-known for their quality local fare.

 

CTC representative Alicia Seah notes that those who sign up for food tours are usually 'affluent and well-travelled Singaporeans above 40 years old', since 'the difference in costs for meals on a gourmet tour could amount to more than double the price of a normal tour package'.

 

She adds: 'They are usually adventurous and like to try different types of food and delicacies which may not be available here. Younger travellers are more into free and easy travelling and sightseeing. They do not want to spend so much on food.'

 

Given the current depressed economy, she predicts that the new food tours might 'settle for reasonably priced cuisines instead of forking out a substantial sum of money for high-end quality food'.

 

SA Tours, which has seen a 9 per cent annual increase in its gastronomic packages since it started offering them four years ago, has a different game plan.

 

Instead of omitting the more expensive food places at a destination, it has made 'provisions to cut back on the number of days to lower the costs of such tours', says its spokesman Ruth Lim.

 

But recession or not, retiree Fong Mee Fah is determined to go on her annual holiday to enjoy the eats. The 59-year-old has paid more than $800 for a five-day Chan Brothers Guangdong gourmet tour next month.

 

Madam Fong, who has heard of the region's famed cuisine, hopes to try as many of the local dishes and snacks as possible.

 

She says: 'My children have all grown up already, so I tour the world now. I live to eat.'

 

Tantalise your taste buds

 

ASA HOLIDAYS

Tour: 8D/9D North Eastern China tour

Price: $1,468 (first passenger) and $1,168 (second passenger)

Feast on:

§          Harbin Flying Dragon Feast, which includes dishes served in pickled sauces, baked chicken and red sausages

§          Changchun ginseng chicken

§          Shenyang local flavour roasted duck

§          Dalian seafood buffet steamboat

 

Tour: 8D All Around Taiwan

Price: From $1,408

Feast on:

§          Xiao long bao at Dian Shui Lou restaurant in Grand Hyatt, Taipei, which is famous for its Shanghainese pork dumplings

§          Taiwanese aboriginal cuisine

§          Three-cup chicken, a classic Taiwanese dish of sesame oil, rice wine and soy sauce

§          Spicy mala hot pot

 

CHAN BROTHERS TRAVEL

 

Tour: 1D Trail of the Little Nonya

Price: From $68

Feast on:

§          Peranakan lunch

§          Malacca food such as Baba chendol, Baba seafood laksa and Nonya assam laksa at the Museum Cafe, a popular food outlet in Jonker Street. Also, take part in a Nonya culinary demonstration of ayam pongteh (chicken and potato stew), sambal udang (sambal prawns) and ikan chilli (fish with chilli)

 

Tour: 5D Unseen Chiang Mai

Price: From $1,044

Feast on:

§          Khantoke dinner, a North Thailand traditional Lanna cuisine style. Try cooking Thai dishes such as spicy curries, tangy salads and sweet treats at the largest cookery school there

 

CTC HOLIDAYS

 

Tour: 9D All of Hokkaido

Price: From $2,848

Feast on:

§          Sashimi and sushi

§          Hokkaido crabs

§          Kaiseki, a traditional Japanese dinner which usually includes sashimi and simmered, grilled or steamed dishes

§          Shabu shabu hot pot

 

Tour: 6D Guangdong New Discovery

Price: From $783

Feast on:

§          Roast goose and pigeon

§          Buddha Jumps Over The Wall

 

SA TOURS

 

Tour: 8D Korea Discovery and Jeju

Price: From $1,480

Feast on:

§          Samgetang (Ginseng chicken soup with ginseng wine)

§          Korean BBQ

§          Korean seafood steamboat

§          Jeju abalone porridge

§          Special Korean cakes, which used to be eaten only by the Korean royal family

 

Tour: 11D Shandong and Henan flowers appreciation tour

Price: From $1,379

Feast on:

§          Jinan jiaozi (dumplings)

§          Qingdao beer and seafood

§          Other locally flavoured cuisines from Shandong and Luoyang

 

SOUTH AUSTRALIAN TOURISM COMMISSION WITH KONSORTIUM TOURS

 

Tour: 7D Adelaide Autumn Gourmet Trip, from April 17 to 24 (80 places), led by Singapore funny man and food lover Moses Lim

Price: $2,893

Feast on:

§          Wine and berries. Enjoy a vineyard retreat, participate in winemaking activities, pick strawberries at the farms and cockles by the beach during season

STI: Upgraders snap up Mi Casa condo units

March 31, 2009

Upgraders snap up Mi Casa condo units

By Yang Huiwen 

 

BUYERS snapped up 97 units during a private preview at a Choa Chu Kang condominium, yet another sign that suburban projects are selling well with upgraders.

 

These sales at Mi Casa, Far East Organization's new development in the Choa Chu Kang town centre, comprise almost 80 per cent of the 123 units released.

 

Mi Casa has a total of 457 units in the estate.

 

Prices started at $580 per sq ft (psf). The average price achieved was $625 psf.

 

Two-bedroom units, with sizes that start at 990 sq ft, and three-bedders, sized from 1,259 sq ft, were sold.

 

Some also have an extra study unit. That brings the two bedders up to 1,119 sq ft and the three-bedroom flats to 1,281 sq ft.

 

The four-bedroom units have yet to be launched.

 

Buyers at the preview were mostly entrepreneurs and professionals, including teachers and engineers, said the private developer in a statement last night.

 

About 80 per cent of the buyers were 'upgraders' living in the surrounding vicinity and nearby areas such as Yew Tee, Bukit Batok and Teck Whye.

 

Foreign buyers, including Chinese and Malaysian nationals, accounted for about 12 per cent of sales.

 

Mi Casa - Spanish for 'my home' - is the first new private condo project built in the town centre in eight years since The Warren condo, which was launched in 2001.

 

The site for Mi Casa was acquired by Far East in May last year.

 

It is within walking distance of the train station, bus interchange, community library and the Lot 1 Shoppers' Mall.

 

Far East's chief operating officer for property sales, Mr Chia Boon Kuah, sees a healthy demand for new condos in that area.

 

'We are delighted with the preview sales so far,' he said in a statement yesterday.

 

'Currently, there are no new sites available in the Choa Chu Kang town centre in the government land sales programme.'

 

This makes Mi Casa 'an attractive value proposition to HDB upgraders and private-residence owners in the neighbourhood', he added.

 

Buyers enjoy an early bird discount until the condo's official launch on April 10.

 

The suburban market showed some real signs of life last month when more than 300 units at Frasers Centrepoint's Caspian condo in Jurong were snapped up within three days.

 

More than 70 per cent of its 712 units have been sold since.

BTO: Far East sells 97 units of Mi Casa over past week

Business Times - 31 Mar 2009


Far East sells 97 units of Mi Casa over past week

By KALPANA RASHIWALA

 

(SINGAPORE) Here's yet more evidence that there's still demand for attractively priced condos in the mass-market segment. Property tycoon Ng Teng Fong's Far East Organization has sold 97 units at its Mi Casa condo near Choa Chu Kang MRT Station since it began sales last week.

 

The 99-year leasehold condo has an average price of $625 per square foot. Buyers who wish to opt for an interest absorption scheme will have to pay 3 per cent more.

 

The 457-unit condo is being developed on a plot along Choa Chu Kang Drive which is diagonally opposite Lot One mall.

 

In a news release last night, Far East said Mi Casa is the first new private condo project in the Choa Chu Kang town centre in eight years and offers an 'attractive value proposition' to HDB upgraders and private home owners in the area.

 

Upgraders accounted for 80 per cent of Mi Casa's buyers. A number of buyers also own landed homes in the area and bought units at Mi Casa for investment and for their children, according to Far East. Mi Casa also drew some foreign buyers (such as China nationals and Malaysians).

 

Far East Organization unit Tian Hock Properties bought the Mi Casa site at a state tender in May last year for $116.01 million or $203 per square foot per plot ratio.

 

Over at the Balestier Road area, City Developments is understood to have sold another 30 units between Friday and Sunday at The Arte at Thomson freehold condo.

 

This brings total sales in the project to nearly 90 units. The 336-unit project, which will comprise two 36-storey blocks, is being offered at an average sellling price of about $880-890 psf.

 

At Somerville Road, boutique developer HLH Group has sold eight of the total 25 units at its D'Almira condo since it began previews three weeks ago.

 

The average price of the five-storey freehold apartment development is about $750 psf, says ERA divisional director Andrew Soh, who is marketing the project.

 

HLH is not offering any interest absorption scheme; buyers will have to make normal progress payments on their units when they are billed by the developer, in accordance with the stage of construction.

 

In the River Valley area, Fortune group sold another five units last week at The Mercury in Shanghai Road. The average price for the freehold project is '$1,200 psf plus', according to Fortune Development general manager Victor Soh.

 

Interest absorption scheme is available to buyers in exchange for a 3 per cent premium. To date, 64 of the total 67 units in the project have been sold.

BTO: New risks emerge for property companies

Business Times - 31 Mar 2009


New risks emerge for property companies

Credit crunch, price uncertainty affecting firms, says E&Y

By ARTHUR SIM

 

(SINGAPORE) Real estate companies face new and growing risks amid the downturn in the world economy, says Ernst & Young (E&Y).

 

'The credit crunch, fluctuations in global economies and resultant pricing uncertainty are affecting real estate companies globally, including those in Singapore,' says E&Y Singapore's assurance partner and market leader for real estate Liew Choon Wai.

 

Many local developers have overseas portfolios, including in emerging markets, and a major concern is the economic vulnerability of these markets and possible changes to local regulations as a result, he says.

 

Another source of potential concern is the real estate investment trust (Reit) sector. 'Should the economic downturn be prolonged or worsen, we expect some form of consolidation in this sector, especially with its refinancing needs and the continuing pressure on rents.'

 

As for residential property, E&Y continues to see a 'rebalancing of selling prices and judicious timing of property launches', Mr Liew says.

 

E&Y's 2009 real estate business risk report itemises the top 10 risks faced by the industry as ranked by leading analysts.

 

The greatest concern is continued uncertainty and the impact of the credit crunch. As E&Y points out, the real estate sector has felt tighter credit conditions perhaps more than any other industry.

 

Restrictions on availability of credit and the short-term inability to deploy capital at acceptable levels of return have 'paralysed' the industry's transactions sector, says E&Y's global infrastructure and construction leader Michael Lucki.

 

'The only lending today is on deals with 50 per cent loan to value and at rates 200 to 400 basis points higher than six months ago, whereas towards the end of 2007 most loans were at 80-90 per cent loan to value,' he says.

 

But some lenders may be on the lookout to move real estate related assets off their books fast, paving the way for forward-thinking companies to develop strategies to take advantage of distressed assets and debt situations.

 

Besides volatility and a lack of credit, other risks for the real estate sector seen by E&Y are: the impact of ageing or inadequate infrastructure; the worldwide war for talent; changing demographics; the inability to find and exploit global and non-traditional opportunities; pricing uncertainty; the green revolution, sustainability and climate change; and volatile energy costs.

 

Still, E&Y's global and Americas real estate leader Howard Roth still believes there is a lot of capital on the sidelines waiting to take advantage of distressed real estate opportunities when the time is right.

 

'A structured, comprehensive due diligence programme will be more important than ever as buyers and sellers evaluate their opportunities,' he says.

BTO: Office location here is 10th most costly

Business Times - 31 Mar 2009


Office location here is 10th most costly

S'pore's total annual occupancy cost per workstation stands at US$16,540: DTZ

By KALPANA RASHIWALA

 

(SINGAPORE) Total annual occupancy cost per workstation in Singapore slipped 3 per cent year-on-year to US$16,540 in the latest 2009 global ranking by DTZ.

 

This was due entirely to a decline in office rents. 'Prime office rents in Raffles Place fell 15.8 per cent in Q4 2008, resulting in a drop of 3 per cent for the whole of 2007,' DTZ Singapore senior director Chua Chor Hoon said.

 

The latest ranking placed the Republic as the 10th most expensive location out of 114 districts worldwide covered in the latest 2009 survey, which compared the total occupancy cost per workstation measured in US dollars as at end-2008. Singapore was seventh in the 2008 survey, which was based on end-2007 figures.

 

Tokyo (Central 5 wards) and London (West End) traded places. The former, which had been in fifth position in 2008, is now the most expensive location, while London's West End, which had been the most expensive office market since 2001 when DTZ first compiled the rankings, was in fifth spot in the 2009 survey.

 

'Due to the strong appreciation of the Japanese yen and increase in space utilisation standard per workstation, Tokyo (Central 5 Wards) occupancy costs per workstation grew 26 per cent year-on-year despite weakening occupier demand in the second half of 2008. Similar trends were noted in Hong Kong and Singapore, where occupancy costs started trending down towards the fourth quarter of 2008,' DTZ said in its report.

 

Total annual occupancy cost per workstation for Tokyo (Central 5 Wards) rose 26.1 per cent to US$22,820 in the 2009 survey. Paris, the second most expensive location in the latest survey, saw a 0.4 per cent decline to US$22,300. The cost for Hong Kong slipped 13.3 per cent to US$21,930, placing it in third position, followed by Dubai, with total occupancy cost per workstation of US$21,620 per annum.

 

DTZ defines total occupancy cost as the average total cost of leasing prime net usable space. This includes rents and outgoings such as maintenance costs and property tax, if these are normally payable by the occupier, but excludes rent-free periods, fitting-out costs and other leasing incentives.

 

The property consulting group's analysis of office occupancy costs is based on the space allocated to each office-based employee across 114 business districts worldwide.

 

As space utilisation standards per workstation differ in each business district due to local practices and culture, a comparison of the office occupancy costs based on the amount of space allocated to each employee gives a better comparison of the total costs of office occupation. The space takes into account not only the direct area used for a desk-station or a cubicle, but also common areas which the tenant/occupier has exclusive use over.

 

In terms of rents and other outgoings per square foot, Moscow, Hong Kong and London (West End) were the top three most expensive office locations in the 2009 survey. However, due to a higher space utilisation standard per workstation, Tokyo (Central 5 wards) was the world's most expensive office location on a cost per workstation basis. Its space utilisation per workstation was 144 square feet compared to Moscow (84 sq ft), Hong Kong (118 sq ft) and London's West End (118 sq ft).

 

The firm noted that apart from local market dynamics of supply and demand, as well as changes in space utilisation standards per workstation, occupancy costs of the business districts studied were also significantly affected by the volatile fluctuations in local currency values against the US dollar, the base currency used in the ranking.

 

DTZ observed a slight decline in the average space utilisation standard per workstation worldwide to 146 sq ft over the course of 2008. 'Going forward, space utilisation standards across most regions are likely to decline as companies focus on space optimisation and cost reduction measures. These include flexible work practices like hot-desking and teleworking, thereby utilising existing space more efficiently to avoid taking on more space or to consolidate and free up space for sub-leasing,' it added.

 

Looking ahead, the report said that amid the uncertainty of a long global economic downturn and further contraction in occupier demand, occupancy costs are expected to decline in many business districts. 'Prospects of an impending supply glut in some markets and the wider adoption of flexible work practices leading to reduced space consumption will also be factors helping to drive occupancy costs down, especially across Europe and Asia-Pacific,' DTZ said. It said that occupancy costs are expected to fall in 2009 for 78 per cent of the 114 business districts studied globally. 'Only 3 per cent of all business districts surveyed expect a slight increase in occupancy costs, with the remaining 19 per cent expecting occupancy costs to remain stable.'

 

In Asia-Pacific, 76 per cent of the markets surveyed foresee office occupancy costs to decline while 24 per cent predict occupancy costs will remain stable over the year.

STI: Presenting... Guo Liang

March 30, 2009

the monday interview with Guo Liang

Presenting... Guo Liang

By adeline chia 

 

When Guo Liang first came here from Shanghai, he remembers weeping for the first time in a long while.

 

The busy TV host-actor had relocated to Singapore to seek new opportunities. But job assignments were scarce.

 

Homesick and lonely, he sat on the floor of his rented room, hugged one of the legs of his bed and wept bitterly.

 

He jokes about those dark days now, saying: 'My face was very ugly. It was very drama.'

 

But in his 15 years here, the 41-year- old has become one of the most recognisable show hosts, and today, he is the go-to man for anything from serious current affairs programmes to fun gameshows.

 

He is best known as the urbane and serious anchor of glitzy live programmes such as the Star Awards and Star Search.

 

Last year, he shared the award for Best Entertainment Presenter at the Asian Television Awards - an award for which he has been nominated a few times - with fellow host Quan Yifeng.

 

It was a career milestone for someone who had stepped out of his comfort zone to make a name for himself in another country.

 

He was part of a group, including former newscaster Wang Yanqing, headhunted from China by former Television Corporation of Singapore vice-president Man Shu Sum.

 

He and Wang built the most successful careers in television, though she has since left to become the deputy editor of Citta Bella magazine.

 

Guo has stayed on in TV but is again stepping out of his comfort zone.

 

Breaking away from his usual composed image, he plays the role of a sissy husband who introduces new food places in an infotainment programme called My House Husband's Journal.

 

The show, which premiered last Friday on Channel 8, comes after his wellreceived turn in drag as the heartland auntie character Liang Ximei, made famous by Jack Neo, at MediaCorp's Anniversary Gala last year.

 

Are these comedic turns a way to break free of people's preconceptions of him?

 

Over black coffee at a Bishan Park cafe, he says: 'Partly. And partly because it's fun. People say I have a good life because I'm always in the studio. But I like to find out about new places, which I have no time to do regularly.'

 

Indeed, it is mind-boggling that this veteran compere who oozes dignity on screen is acting like a limp-wristed fop. During the interview, his re-enactment of how his character speaks - with a mincing, simpering baby voice - is a shock.

 

Even his friend, news anchor Zhang Haijie, 37, who has known him for 10 years, finds it hard to accept.

 

She says: 'Doesn't he look like a news caster? His sophisticated image is something he has cultivated for a long time. Acting like a 'niang niang qiang' (Chinese for sissy) - I still feel divided about it.'

 

But in person, the 1.73m-tall host is an animated and intelligent interviewee. A joke or playful quip is never far away.

 

His mainland-accented Mandarin is softened by Singaporean 'lahs' and 'lors' and snatches of English.

 

You suspect that under the composed image lurks some unseen facets.

 

His long-time collaborator Quan, 34, says he is capable of playing any character.

 

On his role as the sissy house husband, she says: 'It's a difficult role, acting like that in front of everyone on the street. But Guo Liang is a graduate of the Shanghai Drama Institute. He has many talents other than hosting.'

 

Indeed, he was quite the high achiever.

 

He is the elder of two boys. His parents worked in a firm distributing goods made by the Chinese government.

 

As they needed to travel for work, he was brought up by his paternal grandparents. His younger brother, who is 37, is an auditor in Shanghai.

 

When he was 19, Guo enrolled in the prestigious Shanghai Drama Institute and became one of the top students there.

 

After university, he led a busy life acting on TV and in movies, hosting live outdoor shows and doing voiceovers.

 

One afternoon in 1993 in a taxi, he heard an ad saying that a Singapore television company was scouting for talent.

 

He says the early 1990s were heady times for young mainlanders, who were leaving home by the droves to seek their fortunes elsewhere.

 

He says: 'So when I heard a TV station was hiring hosts, how could I ignore it? I told my mother it was a two-year contract. It didn't matter whether it was good or not. I was just going out to play for a while. I was getting a salary as a host. Didn't that sound glamorous?''

 

Out of about 1,000 applicants, he was among four chosen to come to Singapore to begin a hosting career with TCS. He signed the two-year contract, which promised a starting monthly salary of $1,501. He arrived here and rented a room in a Pasir Ris flat.

 

The first three months were hell, he says. It was a terrible, lonely period, with no work for him.

 

'I had no one to talk to. My colleagues weren't bad to me, but they couldn't be good either. We were strangers,' he says.

 

His only comfort: the long-distance calls to his girlfriend Jade Shen Jie, now his wife. Those calls cost $8 a minute, he recalls with a shudder.

 

He once ran up a bill of $1,600 and his landlord showed him the bill with trembling hands. He had to borrow money to pay it.

 

In 1996, he bought his first computer for $4,000 and turned to e-mailing his girlfriend. The sound of the modem dialling, he recalls, was the sweetest sound.

 

A hit at Star Search

 

His first job here was a fortnightly slot on the weekday programme, Afternoon Leisure Hour, where he introduced an old song in pre-recorded segments.

 

But he soon moved on to primetime TV, helming live shows such as the highly rated infotainment show Fun Discovery with Quan.

 

In 1995, the broadcaster held its first Star Search competition to unearth new talent and this proved a turning point in his career.

 

He and Quan were originally slotted to host only the semi-finals, but they did such a good job that TCS let them host the finals too.

 

As his star rose, viewers started grumbling about foreign talent crowding out the local comperes, but he pressed on.

 

With his 'the devil can't faze me' composure and impeccable Mandarin, he gradually became the obvious choice for anchoring major live programmes.

 

Bigger gigs followed: the Singapore Hit Awards, the National Kidney Foundation charity shows and the President's Star Charity shows.

 

He also made it to the Top 10 Most Popular Male Artistes list in 1997, 1998 and 1999.

 

'I think people started to accept me,' he says simply.

 

In 2000, he moved over to the now-defunct TV channel MediaWorks, following hosts Kym Ng and Bryan Wong. There, he hosted variety shows and big live productions, and branched out into acting in period dramas, which were all co-productions with companies in China.

 

He returned to MediaCorp after the media merger at the end of 2004 and remains the 'ah ge' or big brother in the hosting world.

 

Why did he choose to stay on here?

 

He says: 'I told my mother when I left, 'If my two years in Singapore don't go smoothly, I will come home'. But no one wants to do a job badly, unless you are not up to standard. And I wanted to do my job well.'

 

It did not hurt that his contracts kept getting renewed, sometimes even eight months before they expired.

 

He married his girlfriend in 1994 shortly after he signed the deal with TCS. He flew back to Shanghai for eight days for the ceremony and his wife came to Singapore three months later.

 

In 2001, he became a Singapore citizen. His wife, 41, is a Singapore permanent resident who runs a beauty and spa business in Tiong Bahru called Hui Aesthetics. They have a son, Marcus, nine, who was born here.

 

They go back to Shanghai at least once a year but it is never during Chinese New Year, since Marcus has only two days of school holidays and Guo invariably has to host New Year's Eve programmes live.

 

On the decision to take up Singapore citizenship, he says it is because he got used to how things are done here and he wants his son to study under a less stressful education system.

 

Also, a Singapore passport gives him greater mobility.

 

Very Singaporean Chinaman

 

What does he feel about the large numbers of China nationals here now?

 

He answers by giving a larger picture of the different waves of immigrants to Singapore. The first wave of talent and professionals was followed by study mamas and their children, and the latest wave comprises workers in various industries and students.

 

He says: 'Of these different groups of people, there will be good and bad.

 

'My wife runs a business and she told me, 'I don't want to hire people from China'. It's for practical reasons. As a boss, you think it's irrelevant what accent someone has. But it's not whether you mind, but if the customer minds.'

 

He heaves a sigh and seems conflicted about the topic. 'China is too big. There are different kinds of people,' he says.

 

'But then again, Singaporeans go overseas and do all sorts of ugly things, like taking things from hotels and complaining. But are all Singaporeans like that?'

 

He has done some very Singaporean things too.

 

Recently, he upgraded to a condominium in Yio Chu Kang after living in a five-room Serangoon North HDB flat for seven years. His son goes to a top primary school, Rosyth School.

 

His friends say there is an intellectual side to him. They all agree he is a book lover who lives, breathes and devours books in between waiting times in the studio or filming.

 

Indeed, on his book shelves are collections of literary essays and philosophy by Chinese scholars.

 

His conversations with his friends are peppered with references to books he has read, prompting Zhang to say that 'some of our meetings are more like book club meetings' and Quan to say he is 'very cheem', which is Hokkien slang for deep thinker.

 

In fact, the words 'cultivated', 'intellectual' and 'gentlemanly' come up a few times.

 

Guo admits that in more impulsive moments, he has thought of writing a book but when he compares himself to any great writer, he realises that he 'shouldn't waste other people's money'.

 

But he says he would like to be a teacher or consultant in future, and maybe direct a movie.

 

He says: 'I really feel like directing. Some people do it for the love of film, others want to tell their life stories. I'm different. I feel that it's something you can do meaningfully with age, experience and thoughts.'

 

Will he return to China one day?

 

He grows thoughtful.

 

'If I'm going back, I'll wait till I'm older and it will be because I think I will be lonely here. My very best friends are from my childhood and they are in China. Not to mention my family,' he says.

 

My life so far

 

'As a graduate, I had many opportunities in China. I didn't want to go to Japan or America to sweep the roads or work in a restaurant. My cousin went to Japan to wash bathtubs in hotels. He cried and came back in half a year'

On why he was picky about where to leave China for

 

'I didn't take it seriously from beginning to end. But the registration fee was 30 yuan, which was a lot. The usual was 5 yuan. So I showed up since I had already paid up'

On why he went for the talent audition that brought him to Singapore

 

'I try my best not to use the same phrases and words in the same show, especially for charity shows. It's a pain. I used to keep a journal with phrases I culled from news articles about charity and even Buddhist websites'

On speaking well