Finance

Reopening of 1MDB probe by MAS not politically influenced but “to protect public interest”: Enforcement Dept exec director

Singapore’s extensive probe into illegal financial activities surrounding Malaysian state fund 1Malaysia Development Berhad (1MDB) was not politically influenced, but rather motivated by an obligation to safeguard “public interest”. The Monetary Authority of Singapore’s Enforcement Department executive director Gillian Tan told The Straits Times on Wed (20 Mar) that “We do it simply to look at whether a breach has …

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MAS clamps down hard on money laundering and financial services breaches, according to latest Enforcement Report

Money laundering, market abuse, and financial services misconduct were the three key areas of targeted by the Monetary Authority of Singapore (MAS) in its probe against breaches of the Authority’s regulations, as revealed in its latest Enforcement Report on Tue (19 Mar). The report revealed that among the measures taken by MAS between 1 July 2017 to 31 December 2018 …

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Three instances when another driver’s mistakes will cost you

by ValueChampion In cases where your car insurer can not recoup the costs from the third-party after an accident, you may end up paying for it even if you were not at fault. Below, we discuss three times this can happen and what you should do to reduce the price you’ll have to pay for someone else’s mistake. Imagine that you …

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Govt intends to seize Hyflux’s Tuaspring plant, Salim Group to reconsider company takeover

Following the Singapore government’s recent plans to seize Hyflux’s Tuaspring desalination plant, Salim Group has announced that it may change its decision to bailout the troubled homegrown water treatment firm from its massive debts through the company’s restructuring plan. Nikkei Asian Review reported on Tue (19 Mar) that Salim, leader of Hyflux’s bailout consortium, has given the company a notice …

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Dilhan Pillay succeeds Lee Theng Kiat as CEO of Temasek International, while Lee takes over role of Chairman from Ho Ching

It has been announced that Dilhan Pillay Sandrasegara will succeed Lee Theng Kiat as Chief Executive Officer of Temasek International Pte Ltd, the wholly owned management and investment arm of its parent company Temasek Holdings Pte Ltd, with effect from 1 April 2019. Meanwhile, Mr Lee will take over from Ms Ho Ching as Chairman, Temasek International, on the same …

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Four things private-hire drivers can do to maximise their returns

by ValueChampion Looking to maximise your income as a private-hire driver? We look at 4 things you can do to increase your earnings whether you’re a part-time or a full-time driver. Becoming a private-hire driver can be an enticing proposition for individuals who want to make money on their own schedule. However, because car ownership in Singapore is expensive and private-hire …

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Reduction of CPF Investment scheme fees deferred to 1 Oct 2020

The second phase of reductions to the CPF Investment Scheme (CPFIS) sales charge and wrap fees cap will be deferred by one year from 1 October 2019 to 1 October 2020 in response to industry feedback that financial advisors require more time to adjust to the revised CPFIS fees structure. In March 2018, the Ministry of Manpower (MOM) announced the …

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Six hidden costs of home renovation and how to avoid them

by ValueChampion Renovating can be an exciting project that can transform your home. To make sure that you can end up with a beautiful new design without breaking the bank, we’ve highlighted a few costs that are often overlooked by homeowners as they plan to renovate. Given the high cost of home renovations in Singapore, homeowners want to be sure that …

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