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Daily Archives: 2018-07-04

MAS cautions developers of overbidding while foreign developers aggressively bid up S’pore land price

At the Monetary Authority of Singapore (MAS) annual report media briefing today (4 Jul), MAS managing director Ravi Menon cautioned developers when making their land bids. He said developers should bear in mind of the land supply that is coming on-stream. "We are also telling individuals who purchase property to be careful. Interest rates are rising, be cautious of debt-servicing …

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The practice of prepayment fees is ripe for regulation

It would seem that the government has not learnt any lessons from the fallout caused by the sudden demise of gym chain California Fitness in Singapore. Nearly 2 years on, quite a number of its former members still have not seen a penny of their prepaid membership fees repaid. I wonder why the government has not in the last 2 …

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Procedural amendments of laws against “vexatious litigants” redundant, says human rights lawyer

International Human Rights lawyer M. Ravi has voiced his disagreement with the Ministry of Law's proposal to impose more stringent procedures in granting courts greater authority in controlling "vexatious" proceedings. "Vexatious" proceedings refer to proceedings that are brought upon in court without sufficient grounds for winning, usually to cause annoyance to the defendant. In a release on the proposed amendments …

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Former Malaysian PM, Najib Razak, charged with criminal breach of trust and corruption

KUALA LUMPUR, 4 July — Former Prime Minister of Malaysia Najib Razak has been charged with criminal breach of trust and corruption, two months after being investigated over a multibillion dollar graft scandal under the 1MDB state investment fund. He was arrested on 2 July by Malaysian Anti-Corruption Commission (MACC) officials over a suspicious transfer of RM42mil (approximately S$14.2mil) into …

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Court of Appeal reserves judgment in criminal reference to clarify legal criteria of “import” and “in transit” under the Endangered Species Act

by Guo Rendi On Monday (2 July 2018), a five-judge Court of Appeal reserved judgment on a landmark criminal reference filed by a Singaporean businessman and his firm, who were convicted of illegally importing Madagascan rosewood logs by the High Court in March last year, seeking to clarify the correct legal test to determine when scheduled species, being protected under the …

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LTA disappointed in oBike’s failure to return users’ deposit in light of Singapore exit

The Land Transport Authority (LTA) has expressed disappointment over bike-sharing operator oBike’s failure to return the latter’s users' deposits. oBike's chairman Shi Yi was previously quoted as saying that the company hopes that the LTA will not levy fees against them in the event that the company fails to remove its fleet of bicycles from public spaces throughout Singapore. Speaking to …

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