Saturday, May 17, 2008

BT: PERSONAL SPACEWhere life's a breeze



A private sanctuary: (above) Mr Tan's contemporary house has four levels. The top floor has a roof terrace to take advantage of the sweeping views. The grounds outside boast a 30-metre long black-tiled swimming pool, fish ponds and reflection pools.

A wine cellar in the basement can hold about 10,000 bottles and an adjoining wine-tasting room has the walls, floor and ceiling made entirely of cork


Business Times - 17 May 2008

PERSONAL SPACEWhere life's a breeze

Tan Eng Sim's home on a hill is bright and airy with panoramic views of treetops and Nature at the doorstep, writes GEOFFREY EU

THERE are many things to admire about Tan Eng Sim's spacious modern home near the top of a small, secluded hill in a prime residential district in central Singapore. Among them are the sense of being in a private sanctuary, with verdant surroundings and unobstructed views over the treetops to the Botanical Gardens and beyond. Nature is not only at your doorstep but also a welcoming presence indoors.

Most precious of all, perhaps, are the gentle breezes that drift lazily through the many well-placed openings - both large and small - in the house, which was designed to harness the wind and make the most of even the most oppressive days when the tropical sun scorches everything beneath it. Not for no reason is this home known as the Wind House.

According to Mr Tan, the primary brief he gave to the architect of the house - Richard Hassell of WoHa Architects - was that he wanted a bright and airy home, with plenty of natural ventilation and no particular need for air-conditioning during the day. The architectural team conducted extensive research on local wind patterns, also noting the arc of the sun through the sky at various times of the day. It took about 11 months of design work before a tender for contractors was called - an unusually long period that Mr Tan says was time well spent in order to get everything just right.

The result is something that Hassell has termed a 'wind machine' - a comfortable and contemporary five-bedroom house on four levels with additional specific-purpose rooms, strategically placed glass roofs and panels, fish ponds and reflection pools, outdoor terraces, suspended walkways and rooms with high ceilings and full-height doors. Given the various cross-ventilation features throughout the house and the fact that it sits on a generous 29,000 sq ft plot of land, there is a strong sense of space and not much chance of feeling that the walls are closing in on you.

Mr. Tan's retirement in 2006 - he was managing director of Jurong Cement - after more than 40 years in the cement business coincided roughly with the completion of the house, which replaced a 1970s building he purchased more than 20 years ago. He now spends much of his time visiting his daughter in San Francisco, and friends and relatives in other parts of the world while also indulging in a passion for premium wines. He enjoys going to wine regions on a frequent basis.

If the size of the allocated storage space is any indication of his interest in wine, then Mr Tan is a very serious collector indeed. In the basement level of the house, there is an impressive showcase cellar built to accommodate about 10,000 bottles, and an adjoining wine-tasting room where the floor, walls and ceiling are made entirely of cork. A series of wine-related paintings, including a tell-tale one depicting a bottle of 1943 Bordeaux, lines one wall. Just for good measure, there is also an unfinished cellar in an adjacent space, capable of storing another 20,000 bottles.

Not surprisingly perhaps, Mr Tan says the cellar, with the abundant liquid joy it holds, is his favourite space in the house. He spends a considerable amount of quality time in there, either alone or with friends from his regular wine group - but it isn't the only place in the house where it's possible to unwind.

A quick visit to the attic floor - via a glass-backed elevator, naturally - leads to the gym, with glass panels along one wall and art-storage cupboards on the opposite side (his wife is an enthusiastic collector of Southeast Asian art). Outside, there is a roof terrace to take advantage of the views, and also a jacuzzi is heated to a constant 36 degrees C. A small herb garden anchors the opposite end of the attic floor.

The panoramic views from this top floor are certainly tremendous, but there is an additional feature - a narrow steel walkway that juts out from the main house and looks out over the 30-metre long, black-tiled swimming pool below. Its purpose is to serve as an outdoor link between the pool and the jacuzzi.

The house is designed so there is a central atrium between two main blocks where a series of internal staircases links the various levels of the building together. Some sections of the roof are finished in glass, so even the basement is bathed in natural light.

Most of the bedrooms are on the second floor, while the main living area on the ground level holds a large study and adjoining rooms for Western and Chinese dining, which have views out to the garden and pool. There is also a wet kitchen and a dry kitchen, equipped with restaurant quality appliances. At the far corner of the garden there is a casual covered area where the residents can relax or have breakfast by the pool.

By day, barring inclement weather, all the ground-floor doors to the house are open, extending the boundaries of the living and dining rooms to the outdoors. 'The old house we used to live in was air-conditioned all the time,' says Mr. Tan. 'I'm a lot happier with this house, and I seldom use the air-conditioning, even when it's warm outside. The individual rooms are not big, but they can all be opened up to give that sense of space.'

The Wind House is Mr Tan's fourth go at building a bungalow in recent years, and all of them were designed by well-known Singapore-based architects. He has turned his interest in developing individual properties into a lucrative hobby, and he says he is not done yet - can Earth and Water houses be too far behind?

Wednesday, May 7, 2008

BT: Govt has arsenal to counter US-driven slowdown: PM Lee

So I believe Singapore construction sector will still be resilient and in high demand amid the ongoing slowdown in US.



Business Times - 07 May 2008

Govt has arsenal to counter US-driven slowdown: PM Lee

In a crunch, it can pump-prime the economy and give targeted assistance

By CONRAD TAN

(SINGAPORE) Singapore is prepared to face any economic scenario that emerges from the current uncertain climate, including a prolonged downturn in the United States, said Prime Minister Lee Hsien Loong yesterday.

One option to fall back on would be to boost economic growth through government spending, including resuming construction projects that were earlier put on hold, he said.

'If things do get bad, which cannot be ruled out - although it does not appear to be on the cards - we are not without recourse,' he told a group of some 100 guests including chief executives, senior bankers and economists at a discussion hosted by Thomson Reuters.

'If we need to move on fiscal policy to stimulate the economy, we can do that. If we have to have directed assistance to help the lower-income because unemployment has gone up - right now it's at a very low level, but if that happens - we can do that.

'And if I have to stimulate the economy or some sector of the economy, I can do that too.' In the construction sector, for example, the government could restart projects that it had put on hold, he said.He also said that he wished that the government had 'moved earlier' to ease the office space crunch in the financial sector, which has grown so rapidly that prime office space rents have soared, prompting banks to move some of their staff and operations to out-of-town locations.

'I wish we had moved our banking and financial centre six months earlier than we actually did. But at that time, the market looked cold and nobody was interested and we were unable to generate the interest for it to take off.'

But the government has since taken steps to build more office space, housing and schools to ease some of the capacity constraints, he said.

HSBC economist Robert Prior-Wandesforde asked Mr Lee if he thought that Singapore could be in danger of losing its lead over other countries in export competitiveness, especially given the recent disappointing growth figures for electronics exports.

Singapore's non-oil domestic exports fell by 5.9 per cent in March, the steepest decline since February last year. Electronic exports shrank for the 14th month in a row.

Mr Lee said that the falling dollar value of electronics exports was likely to be an 'inevitable trend' - partly because 'prices have been crashing' even though the volume had risen - but that other sectors of manufacturing such as pharmaceuticals would provide support. 'Our overall export numbers are not bad - could be better, but they're not bad. I don't think it is a sign of our losing export competitiveness.'

David Conner, chief executive of OCBC Bank, asked Mr Lee what he thought the reaction of other governments in the region to rising food prices and overall inflation was likely to be.

Mr Lee said that 'it would be a pity' if countries closed up their markets 'because it's really the markets that are going to make sure that the food goes where it's needed and there's enough for everybody to eat'.

He said that cooperation among the Asean countries was necessary 'to make sure that we coordinate among ourselves and do not work against one another'.

Long-term problems affecting food supply such as under-investment in research and development would take time to solve, he said. 'We must be prepared to see food prices up for some time.'

Separately, he told Reuters in an interview before the discussion that the Government of Singapore Investment Corp (GIC) would not disclose as much detail about its investment portfolio as Singapore's other state-owned fund, Temasek Holdings, despite pressure from foreign governments.

'GIC and Temasek are different,' he said. 'We do not want to tell people exactly how much we have so it's easier for them to make a run on the Singapore dollar.'

GIC, which invests Singapore's foreign reserves overseas, is believed to be the world's third largest sovereign wealth fund, with an estimated US$330 billion in assets under management, according to Morgan Stanley in February. Unlike Temasek, which began publishing an annual review of its portfolio in 2004 containing consolidated financial statements and its investment returns, GIC reveals only that it manages funds 'in excess of US$100 billion' on behalf of the government and the Monetary Authority of Singapore.