Finance

The exponential growth of the online lending industry

In recent years, online loans have increasingly become popular, with more borrowers opting for more convenient alternatives to the services offered by traditional banking institutions. In 2015, the online lending industry was close to hitting the $50 billion mark, and by 2020, one out of five SMEs is estimated to become dependent on alternative lenders. But what has spurred the …

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Political turmoil over Hong Kong’s extradition Bill “not good” for Singapore: MAS managing director Ravi Menon

The “complementarity” between Hong Kong and Singapore as Asia’s prime financial hubs – despite popular perception of the two cities being fierce competitors – may signal trouble for the latter, as denizens of the Chinese special administrative region continue to push for the complete withdrawal of the controversial extradition Bill, said the Monetary Authority of Singapore (MAS)’s managing director Ravi …

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Maybank says SG to enter recession while MAS reports its net profit jumped to $19.2B

According to a Bloomberg report yesterday (26 Jun), Maybank Kim Eng Research said that Singapore’s economy will probably experience a “shallow technical recession” in the third quarter this year, as the global trade outlook worsens. The escalating U.S.-China trade conflict is weighing on Singapore’s export-reliant economy, Maybank noted. It expects the Singapore’s economy to grow only 1.3% this year, lower …

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Malaysian PM Mahathir Mohamad suggests implementation of e-commerce tax

Malaysia should impose an e-commerce tax against online businesses, given how their growth presently exceeds that of businesses utilising ‘traditional’ models such as physical retail stores, said Malaysia’s Prime Minister Mahathir Mohamad. Speaking to reporters after the 34th Asean Summit gala dinner on Sat (22 Jun), Mahathir said that governments have been collecting “less tax” as many brick-and-mortar stores have …

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34% e-commerce consumers in Southeast Asia are unhappy with delivery experience

Despite being the fastest growing e-commerce region with over 62% Compound Annual Growth Rate (CAGR) growth over the last 3 years, delivery continues to be a challenge in Southeast Asia, a new survey by Parcel Perform and iPrice Group reveals. The survey was conducted with 80,000 e-commerce consumers across Singapore, Malaysia, Vietnam, Thailand, and Indonesia by Parcel Perform, the leading …

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4 tips for LGBTQ and singles to purchase property in Singapore

For the most of us, securing a property is one of the biggest milestones that we would want to achieve in our lives. It gives us a sense of accomplishment to know that we have a roof over our heads – whether it means owning our own home or just renting one. However, it’s definitely easier said than done. In …

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High net worth individuals and companies begin relocating assets from Hong Kong to Singapore following unrest over extradition Bill

As the political storm unfolds between the government of Hong Kong and the city’s denizens – particularly members of civil society – over the former’s divisive extradition Bill, the mega-wealthy are moving their assets elsewhere, including to Singapore. Financial Times reported Thu (20 Jun) that according to an executive vice-president from the Singapore Stock Exchange (SGX), Hong Kong’s Securities and …

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