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Jui Residences Condo – Reconstructing National Aerated Water Company to Private Estate

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Jui Residences Condo is the latest development by SDB Singapore, Selangor Dredging Berhad (SDB). Located at 1177 Serangoon Road, it is situated in an established HDB estate with plenty of new developments, including minutes drive to Paya Lebar Hub, and a majestic water view of Sungei Kallang.

The condo land parcel at Jui Residences received a top offer of S$47m for the 31,705 sqft land plot of former building – National Aerated Water Company. SDB will work with Singapore in the conversation of nearby heritage buildings, and this residential estate will be one of the prime city fringe development.

SDB International

The project is officially announced at the end of 2017 with indicative prices expected to be released after CNY 2018. For starters, one may refer to the following Serangoon Masterplan by URA to get an idea of the estate Jui Residences Condo is developed in.

URA Serangoon Masterplan for Jui Residences

The building will be worked by Selangar Dredging Berhad to be transformed in a “unique and lively commercial area”, said Mr The Lip Kim, the managing director of SDB, and it lies next to a park connector. There will not be a fence along the main road and river, meaning that it will welcomed the public for a close up look and personal with this heritage gem.

Source: Jui Residences Condo Project Details

Jui Residences Condo – Own a piece of Heritage

National Aerated Water Company is a Heritage Site that is a landmark with a rich history and is part of the whole DNA of this district. Kallang used to be industrial, and full of brickmaking kilns and sawmills. The now-famous St James Power Station was also in the national monument industrial heritage along with Kallang Airport and also Fort Factory.

With the commercial development in the area, here’s what we can expect Jui Residences Condo to entail:

The price psf will only be released after CNY 2018. Do register early with the Jui Residences Official Developer Team to keep updated with the latest news. For now, we are certain there will be at least 1 to family bedroom options, with a total of 1177 units. The estimated psf will be aligned with surrounding Condominiums to keep it competitive by SDB.

Here are the top 6 reasons why we expect the prices of Jui Residences to be competitive (and investment worthy!):

  • Own a piece of Heritage on this development
  • Near Prestigious Schools and Education Hub
  • Well connected via Expressway at Doorstep and Serangoon Road
  • Plenty of Amenities in Mature Estate
  • Freehold Property
  • Proven Track Record and Quality Fittings by Selangor Dredging Berhad

Jui Residences Condo – Site Location Details

Location Map and Surrounding Amenities

Jui Residences Location Map

Jui Residences Condo will be beside Potong Pasir MRT. Residents will find transportation convenient and minutes to shopping malls like The Venue Shoppes, as well as local wet market Boon Keng Market. Here are some amenities that will be situated closeby: Kallang Community Club, Potong Pasir Town and Market, and The Poiz Centre.

Education wise, Potong Pasir & Serangoon is known for the variety and strength of the education facilities and options. There is Bendemeer Primary and Secondary School, St Andrew’s Primary and Secondary, as well as St Andrew Junior College (SAJC). This covers a wide array of education options for a child from teenage to adult.

Register for Early Preview for Jui Residences Condo Singapore

URA’s CEO Mr Lim Eng Hwee said: “This building is not only historically significant as a familiar landmark along the Kallang River, it also holds fond memories for Singaporeans for the popular soft drinks it produced from the 1950s to 1990s”

To find out more, do sign up for the Jui Residences Show Flat.

 

Margaret Ville Condo – New Launch by MCL Land (Regency)

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Margaret Drive Perspective

Margaret Ville Condo is the latest development by MCL Land (Regency). Located between Margaret Drive and Commonwealth Avenue, it is situated in an established HDB estate with plenty of new developments, including minutes drive to iconic attraction – Holland Village in Singapore.

The condo land parcel at Margaret Drive received a top offer of $238.39m for the 22,195 sqm residential plot – (Press Release for Margaret Drive)This indicates strong demand and the bid was awarded to established MCL Land (Regency).

MCL LAND Logo

The project is officially announced at the end of 2017 with indicative prices expected to be released after CNY 2018. For starters, one may refer to the following Queenstown Masterplan by URA to get an idea of the estate Margaret Ville Singapore is developed in:

Margaret Ville - Queenstown Masterplan

As seen, new housing choices will be made available in the area, including Holland Village, Ghim Moh, and Margaret Drive itself. The increased pool of housing options is to cater for the surrounding new developments in leisure and economic outlay.

For example, a new community park will be planed along with the renovation of Commonwealth Avenue Wet Market. Queenstown offers a wide range of recreational facilities and landscapes for residents of all ages and is well connected to the park connector network. The ‘Round Island Route’ will make it easier for residents to walk or cycle to other parks and attractions.

Economic wise, Margaret Ville Condo has great investment potential due to the growth at one-north – where the new Mediacorp headquarters is housed, along with Lucasfilm’s Sandcrawler at Fusionpolis.

Margaret Ville Singapore – What is the expected Price?

Currently, the price psf will only be released after CNY 2018. Do register early with the Margaret Drive Official Developer Team to keep updated with the latest news. For now, we are certain there will be at least 1 to family bedroom options, with a total of 275 units. The estimated psf will be aligned with surrounding Condominiums to keep it competitive by MCL Land.

Here are the top 6 reasons why we expect the prices of Margaret Ville to be competitive (and investment worthy!):

  • Excellent Connectivity
  • Near Prestigious Schools and Education Hub
  • Centralized Location and Minutes to Orchard Road, Vivocity, CBD and Marina Bay
  • Strong Tenant Base from Surrounding Business Parks such as One-North, Mediapolis, Science Park
  • Great for Families near good schools and strong amenities
  • Potentially high rental demand

Margaret Ville Condo Project Details

Location Map and Surrounding Amenities

Margaret Ville Perspective Location Map

Margaret Ville Condo will be beside Commonwealth MRT and Queenstown MRT. Residents will find transportation convenient and minutes to big box shopping like IKEA. Here are some hubs that will be situated closeby: One North, Fusionopolis and Holland Village.

Education wise, Queenstown is known for the variety and strength of the education facilities and options. There is Queenstown Primary School, Queensway Secondary School and Anglo-Chinese School (International), Bukit Merah Secondary School, New Town Secondary School, Tanglin Trust School and Crescent Girls School.

Register for Early Preview for Margaret Ville

As mentioned by Mr Ong Kah Seng, director of property consultancy R’ST Research: He said that the Margaret Drive site could be sold at a high pricing and have a strong edge over its neighboring sites.

To find out more, do sign up for the showflat preview today!

The relevance of the Chartered Valuer and Appraiser Programme to Business Valuers

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Singapore QP Graduation Ceremony_Welcome Address_featured

Introduction

The role of Business Valuation has always been instrumental to mergers and acquisitions and fundraising in the capital markets. The expanded use of fair value in financial reporting has further put a spotlight on the valuation profession as a critical contributor to the reliability of financial statements and indirectly to the workings of the capital markets. Despite this, there is still no single professional framework governing the profession in terms of conduct, education, credentialing, and performance.

There is still no single professional framework governing the profession 

The absence of such a framework makes it more difficult for the business community at large, who hire valuation professionals, to easily ascertain whether valuers possess the requisite skills to perform a high-quality valuation. Additionally, there is risk that the lack of a framework could impact the quality, efficiency, and effectiveness of the valuations being performed.

 

Benefits to the business community

On this basis, the case for a governing framework for the valuation profession seems clear, but what would the benefit be to those who rely on and use the work of professional valuers?

A more efficient selection process for buyers of valuation advice

The accreditation of valuation professionals would make selection of providers a more efficient process for buyers, reducing the amount of diligence required through reliance on the professional accreditation.

A more competitive market for valuation advice

The accreditation of valuation professionals would allow smaller valuation providers to demonstrate market credibility by membership of and adherence to the professional framework. This would provide buyers with a greater choice of provider and increase market competitiveness to the benefit of buyers.

Increased confidence in the robustness and consistency of the work

A professional framework would credentialise valuation professionals based on education, experience, examination, or some combination of these factors. This would give buyers comfort on the technical competence of the valuer in a world of increasingly complex and specialised valuation requirements.

Performance standards would also provide guidelines for the level of analysis to be applied and work to be performed to issue a valuation report. A robust quality review process would promote high-quality valuations, and provide a meaningful disciplinary mechanism for members who do not comply with the standards of conduct and performance. This would give additional comfort to buyers of valuation services that the valuation work has been performed to a good and consistent standard.

Confidence in professional conduct

A professional framework is likely to include a code of conduct giving buyers of valuation services comfort on professional behavior. This would cover important considerations such as independence, conflicts of interest, and due professional care, all of which would enhance buyer’s confidence in their dealings with appropriately accredited valuation professionals.

 

In conclusion

A widely recognised set of professional standards would enhance user and regulator confidence in the quality of valuations performed by promoting a greater level of consistency and robustness in the methodology, documentation and business/professional conduct. The Business community is also likely to benefit from a wider choice of valuation providers and a more competitive market for valuation services. #

 

The Chartered Valuer and Appraiser Programme was officially launched on 19 April 2016. Registration for the first intake is now open. Please click here for more information.

ATO Spotlight: CA Trust PAC

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Innovative SMPs like CA Trust PAC are offering potential Candidates of the Singapore Qualification Programme (QP) fresh new career pathways. Are you ready to take the path less travelled?

Those new to Singapore’s accountancy sector are often surprised by its diversity of firms and talents. While the Big Four firms often take much of the limelight, following hard on their heels are the mid-tier firms. Smaller, fleeter and punching above their weight class, Small and Medium-sized Practices (SMPs) play an equally vital role: not only do they provide crucial services to a range of companies and organisations, they also serve to nurture the next generation of accountancy professionals.

Strategic leadership
Among the standout firms performing this role is CA Trust PAC. Formed in 1995, CA Trust PAC operated as several different entities before amalgamating into one firm in January 2013. The SMP currently has about 45 staff and is also a member of the global TGS Global accountancy network.

Leading the firm into its next phase of growth is its Director, Mr Paul Tan. Noting the depth of CA Trust PAC’s senior management team, Mr Tan explains how this has contributed to the firm’s success.”We endeavour to provide a comprehensive suite of professional services,” he says. “And because we come from diverse backgrounds, our management team gives very good value to our clients, both to the big MNCs as well as the smaller SME clients.”

 Training and development
In order to provide a high level of service excellence, all staff of CA Trust PAC undergo a regular programme of technical training and professional development. During engagements, partners and seniors are also constantly on hand to offer guidance and advice. Says Mr Chen Shih-Kuang, one of the firm’s directors: “Our reporting structure provides a more efficient way for us to impart our technical knowledge and experiences to our staff.”

Another attraction of working at an SMP is the exposure it offers. Within a relatively short period of time, staff of CA Trust PAC can expect to work with companies across many different industries. They also get exposed to multidisciplinary training as well as accounting; audit and assurance; and taxation, among other subjects.

For young professionals eager to learn the nuts and bolts of accounting practice, this can be an exceptional experience. All staff of CA Trust PAC (even relatively new hires) can also look forward to overseas engagements – a fantastic way to boost their management skills and cultural literacy.

We endeavour to provide a comprehensive suite of professional services. And because we come from diverse backgrounds, our management team gives very good value to our clients, both to the big MNCs as well as the smaller SME clients.
– Mr Paul Tan, Director, CA Trust PAC

Nurturing talent
Embodying the firm’s focus on developing homegrown talents is Ms Chua Soo Rui, another director of CA Trust PAC. Having interned with the firm as a polytechnic student, she joined it after her graduation. In recognition of her abilities and many contributions, Ms Chua was appointed a director in January 2013 – seven years after she first stepped into CA Trust PAC.

CA Trust PAC has also embraced its role as an Accredited Training Organisation of the Singapore QP by offering fresh career pathways to potential Candidates. “We want to create the environment for them to learn the various subjects they are expected to be competent at,” explains Mr Lim Lian Soon, the firm’s Training Principal: “If possible, we will assign Candidates jobs that will fulfil this requirement.”

It’s an approach that is already reaping dividends. Among the beneficiaries is Ms Carmen Lau; a graduate of SIM Global Education and former optometrist, she joined CA Trust PAC in September 2013 as its very first Singapore QP Candidate. “I’ve been here for one month and am enjoying the experience very much,” she says. “I’m glad I made the switch to accountancy and to doing the Singapore QP with CA Trust PAC!”

 

Future forward
As the Singapore QP redraws the contours of accountancy in Singapore, progressive SMPs such as CA Trust PAC are remaking themselves for tomorrow’s challenges. By offering higher-value services, boosting their human capital policies and offering Candidates solid opportunities for learning and growth, they are leading the way towards a brighter and more exciting future for all accountancy professionals – and that’s something to be applauded.

In 2014, CA Trust PAC was renamed from its original firm name “CPA Trust PAC,” a rebranding that reflects the firm’s singular commitment to the Chartered Accountant of Singapore designation. For Mr Tan and his team, the sky’s the limit! #

To learn more about CA Trust PAC, visit the firm’s website and this dedicated page on the Singapore QP website.

 

 

Ato Spotlight RT LLP

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ATO Spotlight: RT LLP

For 2013, one of Singapore’s leading mid-tier accounting entities has taken on a fresh identity and is charting a new course to success

Posted on 18 October 2013 in ATO Xchange

 RT = Rapid transition

2013 has been a landmark year for accountancy in Singapore, and among the Small and Medium-sized Practices that embody this new spirit of change is the boutique accounting entity RT-LLP.

Led by CEO and Managing Partner Mr Ravi Arumugam, RT LLP is one of the top mid-tier accounting entities in Singapore. It also happens to be the largest homegrown independent (as well as a member of the global BKR International network). Among the entity’s offerings are: audit and advisory services; investigation and litigation support; taxation services; business set-up, incorporation and corporate secretarial support; outsourced and managed services; corporate advisory and corporate finance services; and risk advisory services.

RT LLP draws its 70-plus professional staff from across the region. In addition to its main premises at One Raffles Place, the entity has a second office at South Bridge Road.

 RT = Raising the bar for talent

In order to provide its clients with exceptional services, all accountancy staff of RT LLP are required to have a professional qualification (such as those offered by ACCA, CPA Australia or ICAEW). Since the launch of the Singapore Qualification Programme (QP) in July 2013, several staff have also become Candidates.

All new hires of RT LLP will also be required to take the Singapore QP. In terms of the support offered to Candidates, the entity will fully subsidise fees and Candidates are also not required to serve a bond.

During their studies, Candidates will also enjoy the professional guidance and mentorship of the entity’s partners. Says Mr Arumugam: “At RT LLP, we believe in a serious time commitment [on the part of our management team], and that is our value proposition for anyone joining us.”

Needless to say, this commitment also extends to training and development. To further sharpen their professional skills, staff undergo regular programmes on audit methodology, IFRS standards, tax updates and industry best practices, among other essential subjects. Regional assignments for all levels of staff also offer varied opportunities for further exposure and learning.

RT = Recreational time-outs!

RT LLP’s professional culture is based on the values of teamwork, communication and mutual respect. This close-knit spirit prevails after office-hours as well; among the favourites on the entity’s annual calendar are regular staff outings. In recent years, staff have also travelled to Indonesia, Taiwan and Thailand for the annual company get-away.

RT = Right time

RT LLP’s clients come from a variety of sectors and industries. As their requirements have grown in complexity, the entity has moved to enhance its offerings, providing even higher-quality, higher-value professional services.

To reflect this new strategic direction, in August 2013, the entity changed its name to RT LLP. This year, the entity also took the exciting step of conceptualizing and forming its very own accountancy network, one united by a common vision of accountancy excellence. “This gives us the freedom and liberty to expand our services, as long as they are high-value,” explains Mr Arumugam. “We want to be exceptional.” #

To learn more about RT LLP, click here or their page here on the Singapore QP website.

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