THE M3: END TO FREE SHUTTLES IN SINGAPORE; PROPERTY PRICES

The Macau Metro Monitor, September 10th 2010


 

RWS WITHDRAWS HEARTLAND SHUTTLE BUSES TODAYonline

In a statement released last night, RWS said it was "voluntarily withdrawing its shuttle services in the spirit of collaboration with the Singapore Government".  RWS spokesman Robin Goh said that a total of eight services running through Bukit Merah, Queensway, Bedok, Choa Chu Kang and Bukit Panjang, Tampines, Jurong East, Ang Mo Kio and Bishan, as well as Tiong Bahru will end at 11pm on Sunday.  The remaining shuttles running through the Central Business District, Orchard and Marina areas will continue. 

 

Several hours before RWS's annoucement, MediaCorp visited the pick-up points in Bishan and Bedok and observed that demand for RWS' shuttle services - which had operated as scheduled - remained strong with many of the buses operating at full capacity, in spite of the authorities' investigation. Many of the passengers used the shuttles to get to Sentosa in general and not just RWS.  However, without the shuttles, business may soften.

 

 

IR'S TOLD TO STOP FREE SHUTTLE SERVICE IMMEDIATELY channelnewsasia.com
The Casino Regulatory Authority has issued directives to the IR's put and end to their free shuttle services, effective immediately.  RWS said that it received the directive at noon on Friday.  Approximately  4-5% of RWS's casino visitors travel to the resort by the free shuttle services and therefore, management doesn't expect that the Authority's move will have great impact on its business.

 

ANTICIPATED ANNUAL GROWTH OF PROPERTY VALUE IN MACAU TO EXPAND BY 5-10%  Macao Daily News

According to the president of Real Estate Chamber of Commerce in Macau, recent data indicates that Macau has clearly fully recovered from the global financial crisis. Value of real estate properties in Macau is almost back to pre financial crisis levels and if there are no further tightening measures or other negative external shocks in 2H10, the value of real estate property in Macau is estimated to sustain 5-10% annual growth.

 

 

CHINA'S PROPERTY PRICES RISE 9.3% IN AUGUST AMID COOL DOWN EFFORTS  Xinhua

According to the National Bureau of Statistics, property prices in 70 major Chinese cities rose 9.3% in August YOY but were unchanged on a MOM basis from July.  August trends are a deceleration from growth rates in the first 7 months of the year. On a YOY basis, China’s home prices increased 7.8% in Dec 2009, 9.8% Jan 2010, 10.7% in Feb 2010, 11.7% in March, 12.8% in April, 12.4% in May, 11.4% in June and 10.3% in July.  New home prices rose 11.7% YOY in August, a 1.2% deceleration from July.  Prices of second hand homes increased 6.2% YOY in August, down 0.5% from July.  Investment in property sector soared 34.1% to RMB $449BN in August.

 

 


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