Photo by linkway88 on Flickr. Licensed under Creative Commons Attribution Nc-Nd 2.0.

The Housing Development Board of Singapore, in a recent article to The Straits Times, clarifies that the recent changes to HDB rules that prevents public housing owners from holding on to private property simultaneously, considers landbanking investments as a form of private property.

This means that such investors will have to dispose either of their properties when they purchase a resale HDB flat.

Based on the article alone, it wouldn’t be unfair to question whether REITS (Real Estate Investment Trusts) also falls under that category. At this point of time, that is officially unknown if that is the case.

Read more about the clarification here.

Photo by Manu Manohar on Flickr. Licensed under Creative Commons 2.0 Generic.

The Islamic Religious Council of Singapore (Majlis Ugama Islam Singapura) issued a new fatwa on the 23rd of September, which recognizes CPF nominations by Muslims as a form of gift (hibah).

The fatwa updates an eariler fatwa made in 1971 which considers CPF nominees to be a trustee and thus require all CPF proceeds to be distributed according to the Islamic Law of Inheritance or faraidh.

This new ruling means Muslim CPF holders are now given more power to decide how and where their CPF monies will be distributed.

Read more about the change here.

Photo credited to Random123abc on Sgforums.
There’s a buzz recently on popular Singapore forums, Hardwarezone and SgForums on the sighting of a new bus by public transport operator SMRT.

More photos on the various links above.

In a separate but similar news, the same bus has also been spotted without the SMRT decal.

Netizens have identified the bus as a Zhongtong LCK6112G.

SMRT has yet to make a press announcement/release on its possible acquisition.

What do you think? Is it a Zhongtong bus like it is claimed to be?

Photo by Justin Zhuang on Flickr. Licensed under Creative Commons Nc 2.0 Generic.

Bangladeshi workers have been the backbone of most of Singapore’s booming construction industry for at least 10 years now, but it looks like it may be changing.

Migrant workers from the landlocked nation, now typically have to pay 500,000 Bangladeshi Takas (~SGD $9,550) or more to agents to bring them into Singapore to work. The workers typically earn SGD $18-$20 a day, making it difficult or almost impossible to recoup the initial amount paid to the agents before their contract ends.

Read more about this story here.

Photo by Richard Foo, on Flickr. Licensed under Creative Commons Nc-Nd 2.0.

That’s how much the government is going to set aside to spur employee training for the next 5 years, Minister for Manpower, Gan Kim Yong, said in response to a question by MP Ho Geok Choo, during the recent Parliament session.

Besides expressing the government’s continual support for workers’ upgrading, tax-relief from approved Continuing Education and Training (CET) course fees for individuals will also be increased from $3,500 to $5,500.

Read more about the changes here.