SISV 30 th. Annual General Meeting

Transcription

1 Newsletter of the Singapore Institute of Surveyors and Valuers SISV 30 th Annual General Meeting In this issue: Expert Witnesses: Take Care or Take the Stand as Defendant You Choose! Property Market Update Series Australian Outstanding Young Alumni Award

2 News from the SECRETARIAT news SISV News is a quarterly newsletter of the Institute. It is distributed to members, students and friends of the surveying profession free of charge. Anyone wishing to receive a copy may contact the Secretariat. 25th COUNCIL Council Chairman Tang Tuck Kim President Loi Hwee Yong (LS Division) Teoh Wooi Sin ( Division) Dr Lim Lan Yuan ( Division) Sunny Sim Tze Kwan Eugene Seah Hsiu-Min Divisional 1st Vice Presidents Mak Weng Tat (LS Division) Silas Loh Peng Wai ( Division) Eric Chan Kim Mun ( Division) Divisional 2nd Vice Presidents Dr Tor Yam Khoon (LS Division) Khoo Sze Boon ( Division) Kwang Heng Lee ( Division) Divisional Honorary Secretaries Terence Goh Chin Cheng (LS Division) Terence Koh Thong Chuan ( Division) Gan Bee Ghee ( Division) Divisional s Goh Woei Lih (LS Division) Wong Kin Hoong ( Division) Ian Loh Kai Chieh ( Division) Council Fellow Goh Ngan Hong Council Member Raymond Lim Keat Hong Immediate Past Chairman (Ex-Officio) Dr Lim Lan Yuan EDITORIAL CONTRIBUTIONS All contributions of suitable articles are welcome. Article submissions should include both printed copy and softcopy in word format. Submissions should reach the Secretariat before 25th March/June/ September/ December. DISCLAIMER No part of this newsletter can be reproduced without the permission of the Institute. Contents of the newsletter do not necessarily reflect the views or opinions of the Singapore Institute of Surveyors and Valuers and no liability is accepted in relation thereof. ADVERTISEMENTS For information and advertising rates, please contact: SINGAPORE INSTITUTE OF SURVEYORS AND VALUERS 110 Middle Road #09-00 Chiat Hong Building Singapore Tel (65) Fax (65) Website sisv.info@sisv.org.sg OFFICE HOURS Monday to Friday 9.00am to 6.30pm EDITORIAL & DESIGN CONSULTANT Design Fusion Pte Ltd CONTENTS Expert Witnesses: Take Care or Take the Stand as Defendant You Choose! 30 th Annual General Meeting The Association of Property and Facility Managers launches the Certified Property and Facility Manager Scheme Property Market Update Series Australian Outstanding Young Alumni Award CONGRATULATIONS AND A WARM WELCOME TO OUR NEW MEMBERS/MEMBER FIRMS MEMBER Division LS Chua Limin Clara Ang Boon Kuan Chin Pek Lin Koh Mee Leng Koh Seng Kiong Koh Thong Chuan Terence Kua Moon Yin Kuek Lee Wan Kwan Yuet Leong Sethuraman Narayanasamy alias Saravanan Sow Ming Hooi Winter Then Choon Huat Yong Lai Peng Susan Ham Sin Yee Koh Chin Chin Ong Yew Guan Pey Chieh Hsiung Leon Sim Theng Kok Tay Huey Ying Wong Yanyi Adeline TECHNICAL MEMBER Division Tan Cheng Guan Yeong Wei Fung Anna PROBATIONER Division Chu Cheuk Wai Chua Mui Hia Michelle Goh Xiu Ting Jiang Pingping Khoo Ling Siang Leow Jun Cheng Lim Ching Hui Ryan Ling Lyi Hoe Jason Notice Division STUDENT Division The following members have resigned from the institute: Division Division LS Firm LSM M M M M M Nanyang Surveying & Systems Lew Hoi Thong Chung Hong Chew Fan Seng Lam Lai Meng Seng Lee Keng Seng Ying Mee Fong Cynthia MO P M M M M P DECEASED Division M Tan Keng Hoon M Seah Kwee Kheng Miao Qingqing Ng Chee Wai Benjamin Ng Yu Ngee Kelvin Ong Yessy Png Li Jing Esther Tan Peh Hua Alice Tao Junming Ivan Tee Ying Lay Wang Qin Wong Hengyi Joel Wong Kwee Shiong David Yu Ling Zi Yu Zhe Zhou Yawei Ching Yung Ket Lee Wee Zi Lim Shi Wen Nguyen Thi Xuan Hien Hilda Qurratu Aini Bte Rahmad Seah Jia Hui Michelle Sim Kuo Tung Tan Ann Joo Tan Lily Tan Zun Cheng Hansen Teo Chee Bin Yeo Chitt Hock Brandon Heng Suek Chen Suzanne Neo Zhi Hao MEMBER FIRM Division Realty International Associates Pte Ltd United Valuers Pte Ltd Chong Ngian Siong Nicholas Lim Bay Hoon Lee Peir Chuang Quah-Oon Gek Neo Grace Teh Kok Hua Yap Suchen Corrine Ong Humin Sherlyn 2 news

3 Expert Witnesses: Take Care or Take the Stand as Defendant You Choose! To all qualified and experienced expert witnesses in Singapore, please do not rush through your expert witness report and exercise even more care than ever or else perhaps be prepared to take the stand as the defendant yourself because the Supreme Court (formerly known as the House of Lords) in England has abolished the 400 year long standing rule that expert witnesses cannot be sued for breach of duty in relation to their participation in legal proceedings. It is noteworthy that this seminal decision was handed down by a majority of five to two in the case of Jones (Appellant) v Kaney (Respondent) [2011] UKSC 13 on 30 th March 2011 in the Supreme Court. The fact of this case as unfolded in the High Court has it that Mr Jones had retained a consultant clinical psychologist (Ms Kaney) to act as his expert witness in a personal injuries claim due to a road traffic accident, in which he suffered significant physical injuries. Ms Kaney was to assess the extent of his psychiatric injuries. Due to a discrepancy pointed out by the opposing expert (Fortis) between Mr Jones s expert consultant clinical psychologist s two reports dated 29 th July 2003 and 10 December 2004 respectively, the district judge ordered both experts to hold discussions and to prepare a joint statement. This resulted in a draft joint statement prepared by Fortis s expert, Mr El-Assra and which Ms Kaney signed without making any changes to the draft. Chronologically, Fortis had already admitted liability on 17 th February 2004 based on Mr Jones s expert s first report dated 29 th July The joint statement which Ms Kaney had signed thus proved to be detrimental to Mr Jones s claim amount. Mr Jones s position had been significantly curtailed which resulted in his settling his claim amount for much less than the settlement that would have had been possible but for Ms Kaney s signing of the joint statement in the terms by which she did without any amendment or comment. It is perhaps noteworthy to know that when she was queried by Mr Jones s solicitors (Kirwans) Ms Jones said that it [the joint statement] did not reflect what she had discussed and agreed with the opposing expert over the telephone but had felt under some pressure in agreeing with and signing it. Mr Jones sued his expert psychologist, Ms Kaney, who then in reliance upon the 400 year rule that an expert witness in civil proceedings has immunity and cannot be sued succeeded in striking out Mr Jones s claim against her in the court of first instance. However, upon Mr Jones s appeal to the Supreme Court, the latter ruled (by a majority of five to two) to rescind the principle of expert witness immunity. The Supreme Court s decision, however unwelcoming it may be, would inevitably attract much deliberation and heightened cautious attitude amongst expert witnesses worldwide especially those countries with colonial links with the UK because they can now be sued for providing expert witnessing services to their clients in civil proceedings. If Jones v Kaney were to be admitted as law in Singapore, we forsee a possible increase in the premium for professional indemnity endorsement in respect of such expert witness work or even the need to consider procuring special PI insurance for expert witness work only. Whether Jones v Kaney or not, it is a timely reminder to all qualified and experienced expert witnesses that each and everyone of you still owe a duty of care to your clients to deliver and perform in a non-negligent manner when producing an expert witness report or signing a joint expert statement. Therefore, if you have always carried out your due diligence on a reasonable basis, the decision in Jones v Kaney has minimal impact and will be inconsequential to your professional conduct. So, we remind you all again, please do not rush through your expert witness report and exercise even more care than ever or else perhaps be prepared to take the stand as the defendant yourself! Daniel Tan DLS Contract Advisory & Dispute Management Services Pte Ltd Address: CADMunit@dls.com.sg Eugene Seah Davis Langdon & Seah Singapore Pte Ltd Address: dlssp3@dls.com.sg news 3

4 30 th Annual General Meeting held on 26 th March 2011 at Orchard Hotel Divisional Annual General Meetings The meeting kicked off with the respective Divisional AGMs. Divisional Council members elected into the 25 th Council are as follows: Land Surveying Division Valuation & General Practice Division Post Nominee/Class Post Nominee/Class President Loi Hwee Yong President Dr Lim Lan Yuan 1st Vice President Mak Weng Tat 1st Vice President Chan Kim Mun Eric 2nd Vice President Dr Tor Yam Khoon 2nd Vice President Kwang Heng Lee Terence Goh Gan Bee Ghee Goh Woei Lih Loh Kai Chieh Ian Assistant Pang Choon Chew Assistant Sim Lee Choo Esther Council Member 1 Geoffrey Morris Council Member 1 Tan Choi Heng Council Member 2 Ng Hai Yim Council Member 2 Wong Loo Kuan Lydia Council Member 3 Leong Kin Weng Council Member 3 Koh Tee Chuan Simon Council Member 4 Paul O Connor Council Member 4 Yeo Choon Lian Jessie Council Member 5 Gerry Ong Council Member 5 John Teo Chin Teck Quantity Surveying Division Extraordinary General Meeting Members then proceeded to the Institute s EOGM. Over 100 members attended the meeting. Post President Immediate Past President 1st Vice President 2nd Vice President Assistant Council Member 1 Council Member 2 Council Member 3 Council Member 4 Council Member 5 Nominee/Class Teoh Wooi Sin Goh Ngan Hong Loh Peng Wai Silas Khoo Sze Boon Koh Thong Chuan Terence Wong Kin Hoong Tan Bee Fong Irene Ling Yean Yng Florence Ho Swee Sun Li Ka Ming Sunny Lim Cheng Jin Wong Chun Seng Stephen Seven resolutions were tabled at the EOGM. Chairman briefed members on their respective purposes. Resolutions 3a, 3b and 7 were not carried out and the following resolutions (1, 4a, 5, 6a and 6b) were passed: Resolution 1 To resolve that the registered office and place of business of the Institute shall be at 110 Middle Road #09-00 Chiat Hong Building Singapore Purpose: Change of registered address in view of Institute s relocation. Resolution 4a) To resolve that the Entrance Fee and Library Fund at S$40 and S$25 respectively for a Student be waived with immediate effect. Class Entrance Fee Library Fund Students S$40 S$25 Purpose: To encourage higher Student membership base. 4 news

5 Resolution 5 To resolve that the Chairman or the President of the Institute shall be a citizen of Singapore. (Byelaws 2.1 and 18.4). Purpose: Leaders of the Institute should be Singapore Citizens. Resolution 6a) To resolve that the Council be authorized and empowered on behalf of the Singapore Institute of Surveyors and Valuers hereinafter referred to as The Institute to sponsor the incorporation of a limited company to be called SISV Academy Pte Ltd or such other name as may be approved by the Accounting and Corporate Regulatory Authority (ACRA) in compliance with all regulatory requirements of the relevant authorities. Resolution 6b) To resolve that the Council be authorized to disburse a sum of up to S$100,000 as the initial paid up capital for establishing SISV Academy Pte Ltd. Purpose: Resolutions 6(a) and 6(b) were related. The Academy to be formed would be a separate entity to conduct courses related to the real estate and construction industry. Annual General Meeting Minutes of the 29th AGM and Annual report of the 24th Council and accounts for the year ended 31 December 2010 were adopted and confirmed. Chairman remarked that the Council had achieved its 3 goals: (i) Strengthening of the Secretariat with the appointment of Ms Evelyn Chang as Executive Director. (ii) Acquisition of Chiat Hong premises by Task Force headed by Mr Eric Chan. Members who had contributed a minimum sum of $2,000 had their names inscribed on the donors board. He was also encouraged by members who had contributed generously. He thanked the following individuals who had contributed $5,000 and above: Category Amount ($) Dr Chng Kee Cheong Ben F 15, Dr Lim Lan Yuan JP F 10, Mr Seah Kwee Yong F 10, Mr Shee Ping Yah Willy F 10, Mr Foo Suan Peng M 5, Ms Gan Bee Ghee M 5, Mr Ng Tee Geok F 5, Mr Yong Chee Hiong Eddie M 5, M/s J K Foo Consortium Pte Ltd LS Firm 5, M/s Tang Tuck Kim Registered Surveyor LS Firm 5, (iii) Formation of the SISV Academy to conduct courses and seminars. The 25th Council 2011/2013 elected members are as follows: Post Council Chairman President (LS) President () President() 1st Vice President (LS) 2nd Vice President (LS) (LS) (LS) 1st Vice President () 2nd Vice President () () () 1st Vice President () 2nd Vice President () () () Council Fellow Council Member Immed Past Chairman (Ex-officio) Tang Tuck Kim Loi Hwee Yong Teoh Wooi Sin Dr Lim Lan Yuan Sunny Sim Tze Kwan Eugene Seah Hsiu-Min Mak Weng Tat Dr Tor Yam Khoon Terence Goh Chin Cheng Goh Woei Lih Silas Loh Peng Wai Khoo Sze Boon Terence Koh Thong Chuan Wong Kin Hoong Eric Chan Kim Mun Kwang Heng Lee Gan Bee Ghee Ian Loh Kai Chieh Goh Ngan Hong Raymond Lim Keat Hong Dr Lim Lan Yuan Mr Lee Li Chuan and Mr Victor Soh were appointed as Honorary Auditors while M/s Lo Hock Ling & Co was duly re-appointed as the professional auditors for the next financial year. Membership diplomas were also presented to members who were present at the AGM. The incoming Council Chairman, Mr Tang Tuck Kim, gave a speech shortly after the conclusion of the election. He thanked the 3 Divisional Presidents for having confidence in him for the appointment. He also thanked Dr Lim and the outgoing Council for a job well done in fulfilling the 3 goals especially the synergy of SISV and SISV Services under one roof and the move to set up the SISV Academy, going forward. He remarked that over the years, the Divisions made significant achievements and hoped that the incoming Council and Divisional Councils could establish more communication and dialogue for greater synergy. news 5

6 News from the Division The Association of Property and Facility Managers launches the Certified Property and Facility Manager Scheme The Association of Property and Facility Managers (APFM) is launching its Certified Property and Facility Manager (CPFM) scheme on 15 th July 2011 the first certification scheme launched in Singapore. The scheme is supported by the Building and Construction Authority (BCA) and the Singapore Institute of Surveyors and Valuers (SISV). The Commissioner of Buildings, Mr Chin Chi Leong, would grace the launch as the Guest-of-Honour. The CPFM scheme was introduced to recognize the level of competency and professional experience of individual personnel working in the industry. This individual certification scheme would provide a framework for ensuring that only competent and qualified personnel were certified to provide property and facility management service to the consumers and clients. It would also serve to ensure that all practising managers were familiar with the need for sustainable buildings and developments. You could apfm@pacific.net.sg for more information on the scheme. ANNOUNCEMENT MA Agreement A Managing Agent (MA) agreement has been formulated by SISV and the Association of Property and Facility Managers (APFM) for the management of strata-titled residential properties. This agreement shall serve as an industry agreement in the provision of professional services as MAs. A copy of the agreement is available for download at Latest Property Cooling Measures Mr Png Poh Soon together with Mr Ian Loh from Knight Frank conducted a talk on Latest Property Cooling Measures on 18 th March 2011 at SISV Training Room. Among the topics discussed were the trend, impact and outlook for the residential market and en bloc / land sales. for property purchasers with one or more outstanding housing loans at the time of the new housing purchase; and lowering of the LTV limit to 50% on housing loans granted by financial institutions regulated by MAS for property purchasers who are not individuals. Residential Markets Poh Soon gave a review on recent study conducted by Frank Knight on foreign buyers profile and the median price of the properties purchased by these buyers. He also provided graphs and charts showing snapshots of Singapore s residential market in terms of price and volume of transactions which showed record prices, high sales volume and low interest rates. He also pointed out that the Government had stepped in with property cooling measures to ensure a stable and sustainable market. These measures included increasing the holding period for imposition of Seller s Stamp Duty (SSD) from the current three years to four years; raised the SSD rates, lowered the Loan-To-Value (LTV) limit on housing loans from 70% to 60% Poh Soon believes that residential market was set up to stabilise in the mid to long term thanks to these cooling measures, Investors and Developers Ian gave his take on the possible impact of the new measures on land/collective sale from the perspectives of investors, owners, and developers. These included wait and see attitude from developers for good opportunity to buy and not likely to buy into collective sale projects in the short term and possible diversion of fund into commercial properties from investors. Signing of MOU with HKIS A Memorandum of Understanding (MOU) was signed between Mr Francis Ng, Chairman of the General Practice Division of Hong Kong Institute of Surveyors (HKIS) and Dr Lim Lan Yuan, President of the Valuation and General Practice Division of Singapore Institute of Surveyors and Valuers (SISV) on 30 th April 2011 in Hong Kong. The objective was to establish linkage and co-operation in order to maximize the utilization of resources through mutual cooperation and sharing of expertise and efforts in education, training and promotion and to advance the practice of Valuation and General Practice Surveying profession. The MOU entailed joint activities such as conferences, forums, seminars, publications, standards, educational materials, promoting parties events via website, newsletters, preferential rates for members attending events, organising conference, seminar/workshop annually at the home country of the organising party on an alternate basis and to schedule mutual visits to each other s home country on an annual basis to review the parties joint activities and plan, collaborate and implement new initiatives. 6 news

7 Property Market Update Series The seminar on Property Market Update (PMU) Series held on 25 th February 2011 at Harry Quay attracted 45 enthusiastic participants. Speakers included Ms Tay Huey Ying, Director, Research & Advisory of Colliers International, Mr Donald Han, Vice Chairman, Cushman & Wakefield Singapore and Mr Peter See-Toh, Managing Director, Retail Services, Knight Frank. Primary and Secondary Markets Ms Tay Huey Ying gave an overview of the 2010 market with charts on the sales activity in the primary market of top 10 popular new projects. It showed developers sales reaching a historic high of 16,292 units in On the secondary market, Serangoon Garden Estate topped the 10 popular resale projects with The Parc Condominium topping the list of 9 subsale projects. Huey Ying also revealed the the buying patterns of Singaporeans and foreigners with those from China and India buying properties in District 15. She pointed out that demand drivers for sale in 2011 were low interest rates, high liquidity, tightening labour market, continued healthy economic expansion, hot money from the West and diversion of foreign demand from Greater China. However, he felt a repeat of 2007 was very unlikely as Government was rolling out commercial sale of sites well ahead of the recovery curve. He pointed out that slow sustainable rental market would help put Singapore on a price competitive mode when attracting multinational companies. CBD offices, especially those around the Downtown Core, would remain as the preferred location for MNCs particularly those in financial services. Retail Sector Mr Peter See-Toh, noted that the price of retail sales psf per annum had reached slightly well below $600 in The Orchard Retail Vacancy rate fell to 4% in 4Q 2010 from a high of 16% in 2Q He pointed out that 2010 had been a good year for the retail sector. The outlook for 2011 also looked good however Peter believed that retailers and mall owners must differentiate products and shopping experiences to draw in the crowds. The presentation was well supported by meaningful statistics and participants were given the opportunity to interpret those information. Office Rental Market Mr Donald Han, highlighted the V-shape economic recovery in 2010 for the office rental market. Donald talked about the Phenomenon of 2007 when prime office rents jumped by 89%, highest in the world with average Raffles Place Grade A rents hitting a dizzying height of $19.47 psf / mth! HKIS s Visit to SISV Mr Francis Ng, Chairman of the General Practice Division of Hong Kong Institute of Surveyors (HKIS), led a delegation which comprised Vice Chairman Mr Lawrence Pang, Mr Tony Wan, Mr Edward Au and Council Members Ms Karen Chan and Mr Joseph Ho to SISV on 13 th January A dialogue session held between SISV and HKIS included an update on the recent development of HKIS and the works of surveyors in Hong Kong and a brief introduction of the current Hong Kong property market situation. There were discussions on how to enhance closer ties between the two Institutes in the joint organisation of events in the year Dr Lim Lan Yuan also gave an update on the recent developments in SISV. After the dialogue, SISV hosted the HKIS delegates to a seafood dinner. HKIS delegates also met with officials from the Housing Development Board. There was exchange of information on current Hong Kong property market situation, land administration and land supply in Hong Kong, land supply, flat supply, control of property market speculation and provision of assisted housing in Singapore. Technical visits to the Duxton, Marina Barrage, Marina Bay Sands and Resorts World Sentosa were also arranged. news 7

8 News from the Division AUSTRALIAN OUTSTANDING YOUNG ALUMNI AWARD Mr Khoo Sze Boon, 2 nd Vice President of Division and an Executive Director with Davis Langdon & Seah Singapore Pte Ltd was recently awarded the Australian Outstanding Young Alumni Award by the Australian Trade Commission, Australian Government and Australian High Commission. SISV extends its heartiest congratulations to its outstanding member. This was part of the inaugural Singapore Australian Alumni Awards presented this year that recognised and honoured alumni who had attained exemplary achievements in their field of specialisation nationally, regionally and/or internationally. Individual s career accomplishments with exemplary achievements in their selected professional fields, contribution to the community, awards / honour received as well as community services / voluntary involvement were also factors of consideration. The recipients of the Inaugural Singapore Australian Alumni Awards (Mr Khoo Sze Boon, 1st row 2nd from the left) including Mr Khaw Boon Wan, then Minister for Health (1st row, 5th from the left) who received the Eminent Alumni Award. Registered Surveyors host Work Attachment scheme A tie-up with Victoria School and the LS Division recently saw fifteen boys attend the Work Attachment Scheme, far more than when it was first introduced in November 2009 when only 3 attended. Since then more than 40 boys have learnt about the professional life of a land surveyor. The work attachment is part of the division s move to promote the land surveying profession, in conjunction with giving career talks and participating in Career Shows at BCA Academy. On 2 nd June 2011, a larger group of 15 young lads from Secondary Three attended a two-day programme where they were attached to surveying firms and exposed to both the field work and office calculations. Candid feedback Some of the boy s comments showed that the experience was far more interesting than they first thought a) b) c) I got to learn many interesting things about land surveying that I had not known previously. This attachment has helped me broaden my perception of land surveying Opens up a different experience from what is viewed by general public as normal surveying involving tripodmounted tools. Which experience was the most valuable to you? d) e) the best part of attachment was doing the fieldwork got to observe the professionals work and the significance of the equipment they use. I enjoyed being outdoors at the job site, using the total station to shoot points It was heartening to see their recommendation of the attachment to their peers; f) g) h) Yes We actually got to experience a lot of the stuff that land surveyors do, and not just sit around and see people doing stuff which was refreshing for a change! Yes It is extremely interesting and very hands on. Yes got first hand information on what these unsung heroes do. VS boys picking up the location of a road and drain during different topographic surveys With feedback like this, the Division is encouraged that they are on track in creating the right level of surveying awareness amongst the youngsters of tomorrow s professions. In fact it was heartening to see that one lad actually stated that he would definitely consider Professional Land Surveying as one of his preferred career options! The LS Division would like to thank the 5 hosting survey firms for making the boys experience so meaningful: 1. Advance Survey Consultant & Registered Surveyor 2. CAK & FG Survey Pte Ltd 3. Tang Tuck Kim Registered Surveyor 4. Wang & EF Tan Associates Consulting & Registered Surveyors 5. Wisescan Engineering Services Pte Ltd We look forward to more survey firms stepping forward to participate in the next batch scheduled for November For more details, please contact Judy at judy@sisv.org.sg. ANNOUNCEMENT LSB Recognizes Work Scheme The Land Surveyors Board had approved the award of CPD points to those registered surveyors who participate in Work Attachment Scheme. No. Reg d Surveyors in hosting company No. CPD points awarded 1 3 Remarks points per RS. (This is to avoid fractional points) point per RS 8 news