Finance

(Article contributed by Ku Swee Yong, CEO of International Property Advisor Pte Ltd.) In May 2019, the government relaxed rules for older people looking to buy old flats using more money from their CPF accounts. The aim of amending the rules was primarily to improve the demand for older flats, so that the value of older flats may be maintained …

Business Processing Outsourcing Prime (BPO Prime), the joint venture (JV) between Temasek Holdings and Penang Development Corporation (PDC), was mutually terminated due to grim market conditions. InvestPenang executive director Lee Kah Choon told Malay Mail on Thu (8 Aug) that the decision to terminate the RM1.3 billion JV (S$429 million) was made based on the findings of a survey conducted …

A recession is possibly on the horizon as Singapore’s GDP may record further gradual decline from the 3.4 per cent recorded in the second quarter of this year, according to according to Swiss multinational investment bank Credit Suisse AG. Credit Suisse, in its latest report on Singapore’s market strategy, also observed that Singapore’s GDP growth in the second quarter of …

Government initiatives with a focus on social spending and infrastructure projects may not have “a strong impact” on Singapore’s economic growth unless global Gross Domestic Product (GDP) growth exhibits “sustained recovery” from the effect of the Sino-US trade war, according to Swiss multinational investment bank Credit Suisse AG. The prediction was made in reference to Deputy Prime Minister Heng Swee …

Singtel reported today (8 Aug) a 35 per cent drop in its first-quarter net profit largely dragged down by losses in its investment in India’s Bharti Airtel. Singtel posted a net profit of S$541 million for the three months ended in June, compared with S$832 million a year ago. Revenue rose 2 per cent to S$4.11 billion due to consumer …

The government takes into account the valuation of unlisted assets in GIC and Temasek such as private equity, infrastructure, and real estate when reviewing the overall risks of its whole portfolio of assets, said Minister for National Development and Second Minister for Finance Lawrence Wong on Tue (6 Aug). Responding to a Parliamentary question from Workers’ Party (WP) Member of Parliament (MP) …

Some readers ask me whether there will be more Hong Kong people buying Singapore homes, and whether this will raise local property prices and sales volumes. Maybe they know I was from Hong Kong two decades ago. Or they have seen too many media reports on riots in Hong Kong. Like many foreign countries, protests and strikes to Hong Kong …

by Lim Hui Ming (Division Head, Alternative Wealth Management, CoAssets) & Ngoi Weng Kit (Marketing Executive) As an online funding platform licensed by the Monetary Authority of Singapore (MAS), we constantly keep a keen eye on developments in the Singapore funding market. As a platform, we at CoAssets, frequently come across companies that try to raise funds directly from members …

Underwriters Laboratories (UL), a global standards development organization, and Enterprise Singapore, the national standards body of Singapore, have recently signed a collaboration and license agreement at the sidelines of the Pacific Area Standards Congress held in Wellington, New Zealand. The agreement was signed on 9 April 2019 by Ms Sonya Bird (director of international standards at Underwriters Laboratories) and Mr …

On Tuesday (30 July), Kaspersky hosted a media briefing session in Singapore and shared updates from its ‘B2B IT Security 2018’ report. The study revealed that Singapore enterprises are aware cyber threats are becoming more sophisticated, but lack of tools and insights to understand these threats prevent these enterprises from effectively addressing them. In fact, close to half (42.6%) of …