Finance

No prohibition on foreign buyers, says Johor’s Forest City project developer

The developer of the US$100bil Forest City residential project in Johor has disputed claims that Malaysian Prime Minister Dr Mahathir Mohamad had announced that the Government will bar foreigners from purchasing homes in the project. In a press statement yesterday (27 Aug), Country Garden Pacificview suggested that the Prime Minister’s remarks might have been “taken out of context”. The property …

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Launch of tender for a white site at Pasir Ris Central

A “white site” at Pasir Ris Central was launched for sale by public tender today under the Confirmed List of the 2nd Half 2018 Government Land Sales (GLS) Programme. In a press release on Monday (27 August), the Housing & Development Board (HDB) stated that the site is proposed for a mixed-use development which will comprise a commercial and residential …

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Naver Corp, South Korea’s leading Search Engine and parent company of mobile messenger app, LINE, invests in iPrice Group

iPrice Group, Southeast Asia’s leading product discovery and comparison platform, has extended its latest funding round to welcome Naver as their latest investor. iPrice is Southeast Asia’s leading product discovery and comparison platform, connecting consumers with hundreds of e-commerce merchants through the best possible shopping experience. Since October 2014, the platform has established itself as the fastest growing in its …

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How the US-China Trade War is making the crazy rich Chinese poorer

Last Thursday, Donald Trump imposed new trade tariffs against China with 25 percent duties on 279 product categories worth a total of US$16 billion. China immediately responded by imposing retaliatory taxes on the same value of imported US products in 333 product categories. Who is the winner or loser in the US? For China, since the total amount of export …

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Four important maid insurance exclusions you may not have known about

by ValuePenguin All insurance policies come laden with exclusions. Read on to find out what hidden caveats you may find within your maid insurance policy. Many of us believe that maid insurance is just there to pay for our foreign domestic worker’s medical bills and protect her from liabilities. However, there is much more nuance in your maid insurance policy. For …

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Elderly angry with Singapore authorities over Noble Group debacle

Bloomberg published a news report today (“I Was Cheated” – Tales From the Collapse of a Commodity Giant, 26 Aug) highlighting a 71-year-old Francis Tay, ex-civil servant, condemning the Singapore authorities over the crash of share prices of Noble Group Ltd. Mr Tay said he feels “cheated”. He has lost almost S$50,000 of his retirement savings in the implosion of …

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Grab invests in new electric vehicle fleet, enabled by SP Group’s fast-charging DC network

Grab and SP Group (SP) today announced a strategic partnership in which Grab will bring in 200 new fast-charging electric vehicles (EVs) and use SP’s pervasive fast-charging network, which will deliver greater cost savings for driver-partners. The new fleet will be progressively rolled out in Singapore from early 2019. Driver-partners on this new model will enjoy preferential EV charging rates …

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Chubb establishes major accounts division in Asia Pacific

 Chubb announced on Monday (20 August) the establishment of a Major Accounts Division in the Asia Pacific region, a dedicated premium service encompassing  underwriting, risk engineering and claims for the region’s large, global and multi-national clients and business partners. Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and …

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Lessons for investors following China’s P2P lending nightmare

by ValuePenguin Many investors in China are furious after they lost their investments on P2P lending platforms when more than 200 platforms closed this summer. What can investors in Singapore learn from the crowdfunding debacle in China? A recent wave of failed P2P lending platforms in China has caused many investors to lose a lot of money. Some investors lost hundreds …

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