VGP Express - January 2016 - Singapore Institute of Surveyors and

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!
I S S U E * 3 8 J A N U A R Y * 2 0 1 6 *
The!
VGP Express
Singapore*Institute*of*Surveyors*and*Valuers*
Inaugural)
SISV)Valuation)
Conference)2015)
27th VGP Council 2015/2017
President))
Dr)Lim)Lan)Yuan)
1st)Vice)President))
Tan)Choi)Heng)
2nd)Vice)President)
John)Teo)
Hon)Secretary)
Goh)Heng)Hoon)
Hon)Treasurer)
Ian)Loh)
Asst)Hon)Secretary)
Richard)Tay)
Council)Members)
)
Ivy)Tan)
George)Low)
Png)Poh)Soon)
Eric)Chan)
Tan)Keng)Chiam)
Joseph)Yee)
Valenie)Chwee)
Soh)Chor)Yin)
Ong)Shujuan)
The!VGP!recently!hosted!the! SISV!Valuation!Conference! on! 16th!
October! 2015! at! York! Hotel,! Mount! Elizabeth.! The! Conference!
was!attended!by!more!than!200!valuers!and!other!professionals!
from! local! and! international! property! consultants! as! well! as!
government! authorities! namely! the! Monetary! Authority! of!
Singapore,! URA,! SLA,! IRAS,! BCA,! LTA,! HDB,! Singapore! Changi!
Airport!Group!and!many!more.!
!
Following!the!opening!speech!for!the!Conference!by!Dr!Lim!Lan!
Yuan,! President! (VGP),! the! SISV! Valuation! Standards! and!
Practice!Guidelines!(2015)!was!also!successfully!launched!at!the!
Conference.!!
Save the Date!
SISV AGM 2016
& Annual VGP
Conference
Joint SISV-PVAI
Valuation
Conference 2016
April 2016
May 2016
Wishing All Members
A Merry Christmas
& A Prosperous
2016!
!
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ISSUE!3!
JANUARY!2016!
The! other! key! highlights! for! the! Conference! was! the! good! line! of! keynote! sessions! delivered!
proficiently! by! veteran! speakers! and! panelists! from! both! the! private! and! public! sectors! who!
shared! their! inXdepth! knowledge! from! topics! on! valuation,! market! research! to! property! tax!
matters! on! real! estate.!From!the! public!sector,!our!speakers! from!JTC!and!SLA!shared!the!recent!
policies!matters!on!how!these!policies!have!steered!the!local!property!market!in!the!past!and!the!
impact!these!policies!may!have!on!the!market!going!forward.!
!
As!we!head!into!the!new!year,!the!VGP!is!already!planning!the!SISV!Valuation!Conference!2016.!If!
you! are!keen!to!lend!your!expertise!as!speaker/panelist!or!tell!us!what!are!the!topics!you! would!
like! to! hear,! please! send! your! email! to! [email protected].! In! the! fast! changing! real! estate! and!
economic! landscape! in! Singapore,! speed! and! dedication! have! helped! propelled! Singapore! into! a!
global!financial!city!today.!Like!the!growth!story!of!Singapore,!our!real!estate!market!has!also!seen!
vast! transformation! through! the! hard! dedicated! work! of! many! stakeholders! who! are! efficiently!
aided! by! innovation,! technology! and! sound! policing! by! the! relevant! authorities.! Although! many!
challenges!lie!ahead!for!the!industry,!the!cyclical!nature!of!the!market!means!revival!in!the!broader!
market!will!soon!be!in!our!midst!and!this!may!come!when!we!are!least!expected.!
The$ VGP$ wish$ to$ thank$ speakers,$ panelists$ and$ all$ who$ have$ attended$ the$ SISV$ Valuation$
Conference$2015$to$make$it$a$tremendous$success!$
$
SEE$YOU$ALL$IN$2016!$
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ISSUE!3!
JANUARY!2016!
VGP IN ACTION
Presentation)on)Green)Buildings)by)BCA)at)the)SISV)on)1)October)2015)
The! VGP! had! invited! Mr! Toh! Eng! Shyan,! Director! of! Green!
Mark! Department! (Existing! Buildings)! to! the! Institute! to!
share! his! insights! on! Singapore’s! Green! Building! Policies.!
The! presentation! was! attended! by! members! in! the! VGP!
Valuation! Committee! and! topics! which! were! shared! and!
discussed!included!the!key!assessment!criteria!of!Singapore!
BCA! Green! Mark! Scheme,! the! formulation! of! 2nd! Green!
Building! MasterPlan! and! Green! Building! R&D! Framework.!!
The! Institute! has! been! working! closely! with! BCA! in! developing! the! valuation! guidelines! for! Green!
Buildings.! As! the! Green! Mark! Scheme! evolves! over! time,! the! Institute! will! continue! to! engage! the!
Authority! to! update! the! SISV! Valuation! Standards! and! Practice! Guideline,! which! was! introduced!
recently!in!October!2015!and!has!a!section!on!Green!Buildings!Guideline.!!
WORKSHOP)FOR)GREEN)BUILDINGS)AND)SUSTAINABILITY)
The! VGP! successfully! hosted! the! Workshop! on! Green!
Buildings! and! Sustainability! on! 17! November! 2015.! The!
Workshop! was! held! in! strategic! partnership! with! the!
Building!and!Construction!Authority!(BCA)!and!with!keynote!
speakers! from! BCA,! Jones! Lang! LaSalle! Singapore,! Comfort!
Management! and! Dr! Lim! Lan! Yuan,! President! (VGP)! who!
delivered! an! insightful! session! on! Green! Standards! and!
Valuation! Guidelines.! The! Workshop! was! well! attended! by!
close! to! 80! participants! comprising! practicing! valuers! from!
local! and! international! property! consultancies! as! well! as!
other!professionals!from!real!estate!developers,!government!
authorities!and!the!local!academy.!
!
The! Institute! is! working! with! the! BCA! on! a! Green! Property!
Records!Report.!The!Report!will!include!valuable!inputs!to!the!
pricing!of!valueXenhancing!green!features!and!facilitate!valuers!
in!valuing!green!buildings!more!accurately!and!objectively.!The!
study! is! still! at! a! preliminary! stage! and! details! on! the! report!
and!findings!would!be!made!known!at!a!later!date.!This!Green!
Property! Records! Report! should! benefit! all! stakeholders! of!
sustainable!developments.!!
The$ VGP$ would$ like$ to$ thank$ all$ speakers,$ invited$
guests,$ participants$ and$ venue$ Sponsor$ UOL$ and$ all$
who$ have$ made$ this$ Workshop$ a$ success!$ Hope$ to$ see$
you$at$our$next$Workshop$in$2016.$
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HIGHLIGHTS)OF)KEY)EVENTS)AND)ACTIVITIES))
*
FIABCI (International Real Estate Federation)
!
The!Belgium!Chapter!will!host!FIABCI!December!Business!Meetings!in!
Brussels! from! 14th$ to$ 16th$ January$ 2016.! The! Meetings! provide! the!
opportunity! for! all! FIABCI! World! Councils! and! FIABCI! Committees! to!
hold!their!formal!meetings!to!advance!their!work!on!a!global!basis.!In!
addition,! there! will! be! working! sessions! as! well! as! an! abundance! of!
marketing! and! networking! opportunities.! ! Please! email!
[email protected]! to! register! your! interest! to! attend! the! Business!
Meetings.!
!
Since! 2011,! FIABCI! Singapore! has! handed! out! the! Singapore! Property! Awards! to! encourage! local!
developers!and!consultants!to!introduce!innovative!architectural!ideas,!and!to!identify!the!strongest!
candidates!to!compete!at!FIABCI!Prix!d’Excellence!International!Competition.!
!
On! 19th! November! 2015,! the! Singapore! Chapter! of! FIABCI! gave! out! awards! to! 28! projects! at! the!
Singapore! Property! Awards! 2015.! The! projects! are! in! 10! categories! :! heritage,! industrial,! office,!
residential! (Super! highXrise),! residential! (highXrise),! residential! (midXrise),! residential! (lowXrise),!
retail,! specialized! project! and! sustainable! development.! All! winners! of! the! Awards! are! eligible! to!
compete! at! FIABCI! Prix! d’Excellence! International! Competition,! winners! are! expected! to! be!
announced!during!FIABCI’s!world!congress!in!Panama!in!May!2016.!
!
“The$comprehensive$planning,$the$iconic$architectural$designs$and$highSquality$materials$used,$
combined$with$the$deep$concern$for$environmental$sustainability$helped$our$projects$to$excel$in$
the$FIABCI$Prix$d’Excellence$Award$2015.”$Dr#Lim#Lan#Yuan,#President#FIABCI6Singapore$
Special)Awards)
Parkroyal
On Pickering
Marina Bay
Financial Centre
Phase 1
!
!
4!
My Waterway
@ Punggol
ION Orchard
Novena Lifestyle
And Medical Hub
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ISSUE!3!
JANUARY!2016!
WORLD ASSOCIATION OF VALUATION ORGANISATIONS
The#7th#WAVO#Congress#was#recently#held#on#12$ November$ 2015#in#Beijing#and#a#
technical# visit# to# 798# Cultural# District# and# drive# through# along# Beijing# Financial#
District# was# conducted# on# 13# November# 2015# for# the# overseas# delegates.# The# VGP#
decipline# of#the# Institute,#also#the#site#of#the#Headquaters# for#WAVO,#co6hosted#the#
7th#WAVO#Congress#with#the#China#Appraisal#Society#(CAS)#which#is#also#the#Beijing#
WAVO# office.# Members# who# attended# the# recent# Congress# included# those# from# Hong$ Kong,$ Korea,$ New$
Zealand,$ United$ States,$ Australia,$ China$ (China$ Institute$ of$ Real$ Estate)# and# the# VGP# delegates# from#
Singapore#led#by#Dr#Lim#Lan#Yuan#(President,#VGP).#The!Congress!was!warmly!attended!by!some!200!fellow!
valuers!and!professionals!from!Beijing!valuation!societies,!valuation!institutions,!local!academies!as!well!as!
overseas! delegates.! The! theme! of! the! Congress! was# Innovation and
Development of Valuation Profession and this is never so apt
and timely as Beijing which is in Asia and this is where the Valuation
Industry is propelling to grow exponentially over the next few years and
beyond. The grooming and training of a regional backbone of talents in
valuation will improve the level of professional management and
competency in the industry whether in China or other parts of Asia. With
some 33,000 practicing valuers in China, the valuation industry in China
bodes tremendous business opportunities and their valuable contribution
through membership and participation in WAVO-endorsed seminars,
workshops is expected to raise the profile of WAVO to a level not seen for
many years.
Some of the interesting topics shared at the Congress include “Creating
an Innovative Valuation Profession to Meet Global Needs, Valuation
Firms should play a more Important Role in PPT Mode, Challenges
Internet Brings to the Valuation Profession and many more. Fellow
overseas delegates from WAVO were also invited by the China
Enterprise Appraisal (CEA), the first appraisal firm in China, to their office
and also treated with a sumptuous lunch by their host.
The Australian Property Institute is planning to host the next WAVO
conference in Sydney in June 2016. WAVO expects a strong participating
interest from fellow WAVO members from the region. Fellow practicing
valuers and professionals, who are keen to attend this conference next
year, please do not hesitate to write to [email protected] or
[email protected].
We look forward to you joining us in 2016 for the next WAVO
Conference in Sydney! !
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LOCAL)NEWS)/)VGP)INITIATIVES)
Seminar) on) SkillsFuture) Framework) &) Initiatives,) Jobs) Bank) and) WDA)
Programme))
)
The! SISV! supported! by! the! Singapore! Workforce! Development! Agency! (WDA)! and! Singapore!
National!Employers!Federation!(SNEF)!hosted!the!seminar!on!SkillsFuture!Framework!&!Initiatives,!
Jobs!Bank!and!WDA!Programme!on!20!November!2015.!Speakers!from!WDA!shared!their!insights!on!
the!various!cash!credits!schemes!which!the!Government!has!recently!announced!to!help!individuals!
in!developing!useful! skills!and!to!promote!employer!recognition!were!some!of! the!topics! that!were!
presented!to!the!roomful!of!attendees!for!the!seminar.!From!SNEF,!the!participants!learned!about!the!
PXMax!Programme!for!SMEs!and!the!eligibility!criteria!for!the!programme.!!
!
As!part!of!the!key!objectives!of!the!VGP,!the! committee!would!be!conducting!existing!and!new!CPD!
courses!for!next!year!where!fellow!veteran!members!as!well!as!other!relevant!industry!experts!in!the!
market!would!form!the!key!course!trainers!and!educators.!!To!ensure!that!these!specifically!tailored!
learning!modules!are!available!to!as!many!members!as!possible,!the!VGP!would!be!engaging!with!the!
WDA!and!SNEF!to!have!the!relevant!skills!funding!be!applicable!to!these!courses.!Members!interested!
in!the!SISV!courses!and!training,!please!look!out!for!our!new!activities!via!the!SISV!website!and!our!
Imailcampaign.! To! help! us! to! reach! out! to! you,! please! ensure! that! you! have! provided! the! Institute!
with!the!latest!email!or!corresponding!email!contacts.!!
SISV)Young)And)Student)Members)Evening)
SISV (VGP) : 2 CPD Credit Hours
We! are! pleased! to! invite! young! and! student! members! to! an! exclusive! closed! door!
evening! session! on! a! date! in! February! 2016! with! Mr! Robert! Khan,! Chief! Executive!
Officer,!Robert!Khan!&!Co!Pte!Ltd.!
!
After! his! service! in! several! international! property! consultancies! in! Malaysia,! Singapore! and! the!
United!Kingdom,!Mr!Khan!established!Robert!Khan!&!Co!Pte!Ltd!in!1997!where!he!continued!to!lead!
the!execution!of!major!auction,!valuation!and!marketing!projects!around!the!region!including!China,!
Vietnam,! Indonesia,! Thailand,! Myanmar! and! Malaysia.! He! regularly! appears! as! expert! witness! in!
court!for!property!and!plant!&!machinery!dispute!resolutions.!!
!
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SISV$Annual$Dinner)
SISV! celebrated! its! 33rd) Annual) Dinner) 2015! on! Thursday,! 29th$
October$ 2015! @! Grand! Copthorne! Waterfront! Hotel.! This! annual!
getXtogether! event! was! well! attended! by! members! from! the! real!
estate!and!construction!fraternity.!With!our!nation!celebrating!SG50!
Golden! Jubilee! Year! this! bodes! special! sentiment! for! the! Institute!
which!with!some!33!years!in!history!it!is!one!of!the!oldest!societies!
that! was! formed! in! a! then! young! Singapore! comprising!
professionals!in!built!environment!and!real!estate!industries.!The!Dinner!officially!began!with!a!warm!
welcome! speech! by! the! Chairman! of! the! Central! Committee,! Mr! Loi! Hwee! Yong! who! spoke! on! the!
siginificant! contributions! made! by! the! various! disciplines! of! the! Institute.! Joining! fellow! SISV!
members!for!this!special!night!included!specially!invited!guests!from!private!to!public!organizations!
where!clients!have!become!fellow!members!and!friends!of!the!Institite!over!the!years.!It!was!indeed!a!
fun! filled! nights! of! games! and! entertainments! where! all! were! entertained! with! songs! and!
performance!on!stage.!We!look!forward!to!you!joining!us!next!YEAR!!!
Annual)VGP)Conference)and)AGM)2016)
!
SISV (VGP) : 2 CPD Credit Hours for Conference & AGM each
The!VGP!would!be!having!its!annual!VGP!conference!and!AGM!in!April!2016!(tentatively#on$16th$April$
2016)! where! the! core! committee! members! will! discuss! the! VGP’s! key! goals! and! objectives! for! the!
New! Year! with! members.! The! morning! session! will! hear! expert! speakers! from! Valuation,! Estate!
Agency!and!Property!Management!sharing!their!insightful!topics!on!what!that!would!be!the!key!focus!
&! trends,! challenges! and! directions! to! note! in!their! relevant! areas! of!expertise! in! 2016.! One! of! the!
highlights! of! this! Conference! is! the! VGP! would! be! announcing! the! list! of! new! events! and! activities!
being! planned! for!in!the! New!Year.! !The!annual!VGP! conference!is!expected!to!be!held! on!a!date!in!
April.!Members!please!set!aside!this!date!on!the!third!Sat!for!the!month!of!April.!We!look!forward!to!
your!active!participation.!!!!!
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Joint)SISV\PVAI)Valuation)Conference)2016)(May)2016))
SISV (VGP) : 6 CPD Credit Hours
The!VGP!is!planning!a!joint!SISVXPVAI!Valuation!Conference!in!May!2016!with!the!proposed)theme)of)the)
Conference:)CROSS\BORDER)VALUATIONS)–)CHALLENGES)AND)TRENDS))
)
The!realm!of!valuation!practice!today!is!no!longer!confined!within!the!local!market.!With!fast!globalization!and!3D!touch!
sensor! technology!connectivity,! the! business! of! valuation! can! easily! transient! on! a! global! platform! and! where! crossX
border!valuation!is!today!without!transboundary!limitation.!The!sharing!of!knowledge!and!information!via!various!modes!
of! communication!is! practically! a! norm! today.! This! joint! Conference! will! explore! in! greater! details! the! increasing!
challenges! and! trends! in! the! valuation! of! Plant! &! Machinery! and! Business! Valuation! in! Singapore! and! India,! and! in!
particular,!the!emerging!interest!in!valuation!of!Intangible!Assets!and!REITs.!!!
!
In!addition!to!the!above!full!day!conference,!we!are!planning!to!conduct!a!half!
day! training! course! in! the! morning! and! technical! tour! in! the! afternoon.! For!
those!who!are!interested!in!attending!the!training!course,!topics!that!would!be!
taught! include! “understanding! REITs! and! their! operations,! policies! and!
regulations,!etc”.!!
!
Please!join!us!for!this!joint!valuation!with!Practising!Valuers!Association!India!
(PVAI),! which! is! one! of! the! largest! valuers! organizations! in! India! where! our!
enlivening!speakers!will!share!with!you!their!perspectives!in!conducting!Cross!
Border!Valuations.!!
!
As) part) of) the) highlights) of) this) joint) Valuation) Conference,) the) VGP) will) be) hosting) a) welcome) dinner) for) the)
overseas)delegates.)Interested)VGP)members)are)welcomed)to)attend)this)networking)session)and)dinner.)Please)
register)your)interest)early)with)us.)Dinner)rates)to)be)advised.))
)
Guidelines)For)Continuing)Professional)Development)(CPD))
)
Requirements)
The!SISV!Bylaws!on!CPD!provide!that!every!VGP!Fellow!and!Member!must!complete!60!hours!CPD!in!every!consecutive!
period!of!3!calendar!years!(January!to!December).!!To!qualify!as!CPD,!the!activities!must!be!related!to:!Some!parts!of!the!
theory! and! practice! of! valuation! and! related! disciplines! such! as! estate! management,! estate! agency! and! general!
consultancy,! or! other! technical! topics! related! to! a! member’s! current! or! potential! occupation,! and/or! personal! or!
business! skills! designed! to! increase! a! member’s! management! or! business! efficiency.! For! details,! please! read:!
http://www.sisv.org.sg/membership6cpd.!!
!
Recording)and)operational)requirements)
The! VGP! secretariat! will! provide! the! number! of! credit! hours! for! every! conference,! workshop! or! seminar! and! course!
either! organised! or! endorsed! by! the! VGP! Council! and! Institute! including! the! provision! of! a! certificate! of! attendance!
indicating!the!hours!attended.!!!The!record!of!individual!members’!CPD!hours!will!also!be!kept!by!the!secretariat.!The!
institute!is!in!process!of!revamping!our!website,!and!members!will!be!able!to!update!your!CPD!activities!online!in!time!to!
come.!
Th ere ar e m any events for you to clo ck these SISV CPD hou rs. Attendi ng co urses, wo rksh op s, con fer en ce
a nd even ts o rga ni zed b y th e In sti tute i s j ust so me o f the better k now n a cti viti es. A tten din g AG M, w r itin g a
pi ece of j ou rna l or pr esen ti ng a resear ch p aper in rel ati on to real estate ma tter s o n b eh al f o f you r
comp any O R for the I nstitute w i ll a lso ear n you tho se CPD poi nts as th ese ar e pa rt and p arcel in the
lea rni ng pro cess o f you r car eer develo pment. Yo ur p ar ti cipa tio n a nd a ssista nce in th ese events a re
A LWA YS w elco me. The Insti tu te NE ED S YOU an d we ho pe to see a s many members an d al l other i nterested
!
pr ofessio nal s a t o ur activi ties a nd even ts next year .
Happy Holidays to ALL ! !
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VGP)CPD)COURSES)
)
Certificate)in)Marketing)of)Industrial)Properties)–)Commencing)Registration)in)January)2016))))))))))))))))))))))))))))))))))))))
(Endorsed)by)CEA)–)CPD)credits)to)be)confirmed))
This!Certificate!Course!is!to!equip!estate!agents/salespersons!on!the!fundamentals!in!marketing!industrial!properties!in!
Singapore.! As! JTC! and! HDB! are! the! two! largest! developers! and! managers! of! industrial! properties! in! Singapore,! it! is!
necessary!that!estate!agents/salespersons!be!informed!of!the!policies!and!regulations!of!JTC!and!HDB!with!regard!to!the!
use! and! occupation! of! industrial! properties.! In! addition,! estate! agents/salespersons! should! be! acquainted! with! the!
relevant! portions! of! the! guides! and! regulations! introduced! by! CEA! and! other! relevant! authorities! that! relate! to! the!
marketing!of!industrial!properties.!!
!
The! process,! techniques! and! the! various! types! of! marketing! activities! will! be! taught! in! this! course! to! equip! estate!
agents/salespersons! with! the! essential! tools! to! successfully! market! industrial! properties.! These! skills! include! both!
selling!and!leasing!industrial!properties.!
Workshop)on)Trees)Maintenance)by)NParks)–)
An)SISV)initiative)in)collaboration)with)National)Park)Board)
SISV (VGP) : 6 CPD Credit Hours
The!VGP!is!in!talks!with!the!National!Parks!Board!to!bring!to!you!a!series!of!fullXday!workshop!on!Trees!Maintenance!
and!all!that!a!property!manager!has!to!know!about!Basic!Landscape!Maintenance;!Basic!Trees!and!Shrubs!Maintenance.!
The!workshop!is!expected!to!include!a!technical!orientation!where!the!trees!expert!from!NParks!will!share!with!you!the!
finer! green! thumbs! in! trees! and! shrubs! pruning.! The! first! workshop! is! expected! to! kickstart! in! March/April! 2016.!
Please!ensure!your!email!contact!to!us!is!upXtoXdate!so!that!our!EDM!is!able!to!reach!you.!Please!do!not!hesitate!to!email!
if!there!are!any!particular!topics!on!trees!and!shrubs!which!you!would!wish!to!hear!and!learn!more!about.!!!!
Understanding)Succession,)Trusts,)Ownership,)Tenures)In)Real)Estate)Transactions)(CEA)SN:)C2L1S0180))
2!CEA!Core!CPD!credits!awarded!under!Core!Category!2/!Level!1)approved!by!CEA!for!the!mandatory!CPD!Scheme)
SISV)(VGP)):)3)CPD)Credit)Hours)
Date:)21)January)2016)(AM)))
)
Law)pertaining)to)appointment)of)Real)Estate)Agent)&)Salesperson)(CEA)SN:)C1L1S0014))New!!!)
2!CEA!Core!CPD!credits!awarded!under!Core!Category!2/!Level!1!approved!by!CEA!for!the!mandatory!CPD!Scheme!
SISV)(VGP)):)3)CPD)Credit)Hours)
Date):)25)January)2016)(AM))
)
Dispute Resolution Skills (CEA SN: C3L2S0237)
2 CEA Core CPD credits awarded under Core Category 3 / Level 2 approved by CEA for the mandatory CPD Scheme
SISV)(VGP)):)3)CPD)Credit)Hours)
Date : 27 January 2016 (PM)
Designing)An)Effective)Complaints)Management)System)(CEA)SN:)C3L2S0234))
2!CEA!Core!CPD!credits!awarded!under!Core!Category!3/!Level!2!approved!by!CEA!for!the!mandatory!CPD!Scheme!
SISV)(VGP)):)3)CPD)Credit)Hours)
Date : 17 February 2016 (PM)
!
Master)Plan)2014)(CEA)SN:)C2L2S0127)))
2!CEA!Core!CPD!credits!awarded!under!Core!Category!2/!Level!2)approved!by!CEA!for!the!mandatory!CPD!Scheme!
SISV)(VGP)):)3)CPD)Credit)Hours)
Date):)25)February)2015)(PM)))
)
Training)on)SISV)Valuation)Standards)and)Practice)Guide))
SISV)(VGP)):)6)CPD)Credit)Hours)
Date):)20)January)2016)(8.45am)to)5.30pm))
)
)
9!
!
ISSUE!3!
JANUARY!2016!
KEY)CIRCULARS)/)NEWS)ISSUED)BY)AUTHORITIES)
*
Building)and)Construction)Authority)
30!November!2015! Amendments!to!Buildability!Productivity!Regulations!
4!December!2015!
BCA!to!participate!in!the!New!Global!Alliance!for!Buildings!and!Construction!
Council)For)Estate)Agencies)
5!October!2015!
Unauthorised!use!of!residential!properties!for!housing!of!foreign!workers!
30!October!2015!
Prevention!of!Money!Laundering!and!Countering!the!Financing!of!Terrorism!–!Compliance!with!Terrorism!
(Suppression!of!Financing)!Act!
19!November!2015! Amendments!to!the!Estate!Agents!Regulations!
Housing)Development)Board)
3!October!2015!
HDB!Unveils!New!Generation!of!Neighbourhood!Centres!
3!November!2015!
HDB’s!First!Issue!of!Rated!Fixed!Rate!Notes!
17!November!2015! HDB!Launches!bumper!crop!of!12,411!flats!!
Ministry)Of)National)Development)
01!October!2015!
Formation!of!Town!Councils!
23!October!2015!
!
Senior!Appointment!Change!at!the!Council!of!Estate!Agency!
17!December!2015!
Release!of!First!Half!2016!Government!Land!Sales!(GLS)!Programme!
Monetary)Authority)of)Singapore)
4!December!2015!
Recent!Economic!Developments!in!Singapore!!December!2015!
National)Environment)Agency)
20!October!2015!
Stricter!Energy!Performance!Standards!for!AirXconditioners!From!September!2016!
Singapore)Civil)Defence)Force)
2!November!2015!
Fire!Safety!Requirements!for!Fully!Automated!Mechanised!Car!Park!(FAMCP)!2015!
Singapore)Land)Authority)
1!June!2015!
With!effect!from!1!June!2015,!some!of!the!fees!chargeable!under!the!State!Lands!(Fees)!Rules!and!Land!Operations!
Fees!shall!be!revised.!!
4!December!2015!
SLA!launches!One!Historical!Map!Application!
Urban)Redevelopment)Authority)
5!October!2015!
Revised!GFA!Apportionment!Rules!for!Common!Areas!in!Mixed!Use!Developments!
5!October!2015!
Revised!Locational!Criteria!for!Serviced!Apartments!
5!November!2015!
Increase!in!Allowable!GFA!Quantum!Cap!for!Child!Care!Centre!Use!in!Place!of!Worship!Developments!
1!December!2015!
URA/CUD!Plan!Release!1/2015E!Street!Block!Plan!for!Mount!Sophia!
!
!
10!
!
ISSUE!3!
JANUARY!2016!
Notice)to)Members))
!
During! the! Dialogue! session!with! valuers! on! 25! September,! the!matter! regarding! the! request!
for!Scale!of!Valuation!Fees!by!the!HDB!to!fellow!valuation!firms!was!raised!by!fellow!members!
who! attended! the! session.! To! ensure! that! the! Institute! is! in! compliance! with! the! AntiX
Competition! Act! set! by! the! Competition! Commission! Singapore,! the! Institute! would! not! be!
issuing!circular!on!standard! scale! of! valuation!fees!to! members!nor! to!the!authorities!seeking!
such! information! from! the! Institute.! ! For! members! and! the! relevant! authorities! who! need!
further! clarification! on! this! matter,! please! feel! free! to! write! to! the! secretariats! :!!
[email protected][email protected].!
!!
Happy New Year !
!
Secretariat!:!! Teo!Li!Kim!
Janet!Han!
!
!
Singapore!Institute!of!Surveyors!and!Valuers!
110!Middle!Road!#09X00!Chiat!Hong!Building!Singapore!188968!
Tel!:!+65!6222!3030!!!!!!!Fax!:!+65!62252453!!!!!Website!:!http//www.sisv.org!
!
The! VGP! Express! is! a! quarterly! publication! of! the! Singapore! Institute! of! Surveyors! and! Valuers.! Distribution! is! restricted! to!
members!and!those!organizations!and!institutions!of!higher!learning!associated!with!the!Institute.!
!