Claimed to be the first book to set out a professional standard for running an interior design project, The BIID Interior Design Job Book from RIBA Publishing sets out a step-by-step process for interiors projects which adopts the standard procedures used by architects and contractors.
Written by the experienced multi-disciplinary architecture and interior design team of Diana and Stephen Yakeley, the job book offers practical advice alongside model letters and specimen forms that can be quickly adapted to any job. It also provides guidance to the legal background, a clause-by-clause explanation of the standard form of client contract (ID/10), and an introduction to space planning. As the title suggests, the new job book has been fully endorsed by the British Institute of Interior Design. More information.
Collapsed architectural practice Archial has been sold to multi-disciplinary Canadian firm Ingenium.
The 400-strong Archial, which was led by chief executive Chris Littlemore and went into administration last week over unpaid taxes, will now become part of a new firm, Ingenium Archial Ltd.
Administrators from Price Waterhouse Coopers (PwC) would not comment on how much Ingenium had paid for Archial, its Asian arm Alsop Sparch and other “assets”, all of which have been trading as normal since going into administration, according to PwC.
The privately owned Ingenium Group employs 800 people working across disciplines including architecture, engineering, project management and interior design, with offices in Canada, the United States, Asia and the Middle East.
David Chubb, joint administrator and partner at PwC said: “We are delighted to be able to secure this sale and provide business continuity for customers, suppliers and employees alike in these uncertain times.
“Trading a professional services business in administration is extremely difficult and this success has only been possible as a result of the support of all these stakeholders. I would like to thank them for their assistance throughout this difficult period.”
Shares in Archial Group PLC were suspended from the Alternative Investment Market on September 17. Following the insolvency of its companies, there will not be any value realised for the holders of the suspended shares, PwC said.
MUMBAI: With the high networth individuals (HNWIs) population showing a robust growth of 33.2 per cent in the Asia-Pacific region last year, India and China are likely to remain the fastest-growing HNWI segment in the world, a report said today.
Emerging Asia (China, India, Indonesia and Thailand) is fast becoming the main engine of growth in the Asia-Pacific region and its HNWI segment showed a robust growth of 33.2 per cent in 2009, with wealth up 40.4 per cent, according to the 2010 Asia-Pacific Wealth Report released by Merrill Lynch Global Wealth Management and Capgemini, here.
India and China were the only two major Asia-Pacific countries in which industrial production actually rose in 2009, as they enjoyed a more diversified export market and broader domestic demand.
Hong Kong and India, which experienced the world's largest decline in HNWI population and wealth in 2008, experienced the strongest resurgence in 2009. The population of HNWIs grew 104.4 per cent in Hong Kong, almost reaching pre-crisis levels and 50.9 per cent in India, the report said.
HNWI wealth in Hong Kong and India jumped 108.9 per cent and 53.8 per cent, respectively, amid strong growth in both markets and macro-economic drivers of wealth.
"The strong economic resurgence in India has been boosted primarily by the country's stock market capitalisation which more than doubled in 2009 after dropping 64.1 per cent in 2008," Merrill Lynch Wealth Management, India, Chairman, Pradeep Dokania, told reporters here.
"The increased confidence by Indian HNWIs facilitated by the strength of the underlying economy which grew 6.8 per cent in 2009 has resulted in a surge in HNWI wealth in the region," Dokania said.
"China and India will lead the way in the Asia-Pacific region with economic expansion and HNWI growth is likely to keep out-pacing more developed economics," he said.
China's rapid GDP growth is expected to slow a little to 8.3 per cent in 2011. Going forward, China is expected to focus on balancing its economy by boosting the service sector and driving private consumption.
Source: Economic Times
Architect involved in at least four legal cases prior to going into administration
Archial was in the process of trying to recoup unpaid fees owed by debtors before it was forced into administration this week.
The London-based practice was involved in at least four legal claims including one against construction and oil tycoon Ian Suttie, the owner of Scottish builder First Construction.
The legal actions were raised in 2009 and Archial administrator PricewaterhouseCoopers will now investigate the claims and decide if further action is necessary.
Archial, formerly known as SMC, went into administration earlier this week after failing to agree repayment terms over more than £3 million of unpaid tax with HM Revenue & Customs.
It also had a reported £15.4 million of bank loans and overdraft facilities, according to its accounts for the year ended December 31, 2009.
PricewaterhouseCoopers is now looking for a rapid sale of the practice, which is working on a number of high-profile jobs, including Alsop Sparch’s Puddle Dock Hotel in central London, originally designed by Will Alsop.
Developer Blackfriars Investments told BD that the £250 million project, which received planning permission from the City of London earlier this year, was continuing.
Chief executive Mallory Clifford said: “At the moment we are starting talks to find an operator for the hotel. Once we find one and we go into detailed design we will see if we get a new architect on board or stay with the firm.”
Workloads have fallen for the sixth consecutive month, according to the latest RIBA Future Trends survey.
The number of practices expecting an increase in workload has fallen and nearly a third expected their workload to decrease in August.
The survey predicts a further decline in work for architects over the next quarter.
There continues to be little evidence of a recovery in employment prospects for salaried architects, with only 4% of practices expecting an increase in staff in August.
The survey identified the greatest pessimism in commercial and private housing, in medium-size practices (11 to 50 staff) and in Scotland and Northern Ireland. However, there were signs of hope in the Midlands and East Anglia.
While the market for bespoke houses and domestic extensions seemed to be holding up well in many areas, the survey revealed many respondents were gloomy about the impact the VAT increase would have.
Adrian Dobson, RIBA director of practice, said: “It is perhaps not surprising, given that a quarter of our respondents report being personally under-employed, that reduced-hours working continues in some practices.
“The current over-capacity in several sectors is leading to intense fee competition, and practices have to analyse the resource requirements of projects and the scope of services very carefully to ensure that they can successfully deliver projects and cover costs.
“During the last major recession in the UK construction industry, many practice failures actually occurred in the recovery phase as a result of unrealistic fee bidding and some unsustainable fee levels.”
Archial has been put into administration and is up for sale just days after it suspended trading of its shares.
It emerged today that the listed London-based practice, formerly known as SMC, was unable to agree repayment terms over unpaid tax owed to HM Revenue & Customs and appointed joint administrators David Chubb and Graham Frost of PricewaterhouseCoopers, who are now seeking a rapid sale of the business.
Chubb said: “In response to changes in market conditions, Archial Group PLC had taken a number of steps to improve operations and to develop a sustainable and profitable business going forward.
“However, due to difficulties in meeting the group’s financial obligations, the directors have concluded that various companies in the Group, including Archial Architects Limited and Alsop Sparch Limited, should be placed into administration to protect the business and assets. “
On 26 August, the practice, which employs 400 staff worldwide including around 200 architects, announced its full year results would be “significantly below market expectations” as a result of the unpaid tax.
A previous update in May by the firm - which is led by chief executive Chris Littlemore - said trading for the first four months of the year was in line with management expectations. It had forecast to make a pre-tax profit this year of £3.4 million on turnover of £30.5 million.
Earlier this year, Archial started work on a £27 million mental health facility in Dumfries and in May the practice, one of two listed on the London Stock Exchange’s Alternative Investment Market (AIM), said it had £60 million worth of jobs in the pipeline.
NEW DELHI: The country's nascent cloud computing market, a platform where software applications and related resources can be shared online, is expected to touch USD 1 billion in the next five years, says a survey.
"India's cloud computing market will be around USD 1 billion over the next five years," consulting firm Zinnov Management Consulting said in a report.
Cloud computing, which is Internet-based, facilitates sharing of technological resources, software and digital information. The emerging field would function on a pay-per-use model, helping technology companies to bring down cost.
The cloud computing platform is expected to mainly benefit enterprise SMB (small and medium business), SOHO (small office, home office) and consumer segments.
A recent study, sponsored by IT infrastructure firm EMC, said that rising growth in the digital information space would create a significant market opportunity for both the cloud computing and storage.
Digital information includes data, text and media elements.
Going by EMC estimates, the storage market in India will be over USD 1 billion in the next five years.
Digital information in India will grow from 40,000 petabytes to 2.3 million petabytes (one petabyte equals 1,000 terabytes) over the next decade (2010 to 2020), twice as fast as the worldwide rate.
Source: UK India Business Council