Om Mani Padme Hum
- wong chee tat :)
Thursday, April 30, 2015
Wednesday, April 29, 2015
Tuesday, April 28, 2015
Evening
It is quite cooling after the heavy rain in the late evening. Good time to rest.
- wong chee tat :)
- wong chee tat :)
Scheduled Maintenance - POSB
Scheduled Maintenance - POSB
We are constantly upgrading our systems to bring you a more pleasant banking experience. During the mentioned period of scheduled maintenance, some of the services will not be available:
iBanking
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
03 May 2015
|
0130hrs to 0200hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
03 May 2015
|
0040hrs to 0045hrs
0835hrs to 0840hrs |
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
03 May 2015
|
0130hrs to 0200hrs
|
System Maintenance
- Make a Transfer - DBS Hong Kong Remit - Make a Transfer - DBS India Remit - Make a Transfer - DBS Indonesia Remit - Make a Transfer - DBS Philippines Remit - Make a Transfer – All Other Countries |
09 May 2015
|
0500hrs to 0700hrs
1800hrs to 2200hrs |
System Maintenance
Credit / Debit Card
|
mBanking
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
03 May 2015
|
0130hrs to 0200hrs
|
System Maintenance
- DBS India Remit - Send Money to Overseas Bank Account |
09 May 2015
|
0500hrs to 0700hrs
1800hrs to 2200hrs |
System Maintenance
Funds Transfer Overseas
|
iB - Trading Services
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
28 Mar 2015
|
1000hrs to 2000hrs
|
System Maintenance
- iB trading services |
- wong chee tat :)
Prices of private homes fall 1% on-quarter in Q1: URA
Prices of private homes fall 1% on-quarter in Q1: URA
POSTED: 24 Apr 2015 09:13
UPDATED: 24 Apr 2015 09:15
The price decline was seen across all segments of the private residential property market, with non-landed properties in the Rest of Central Region leading the drop, according to URA statistics.
SINGAPORE: Prices of private residential properties decreased 1 per cent quarter-on-quarter in the first quarter of 2015, representing the sixth straight quarter of price decline, the Urban Redevelopment Authority said on Friday (Apr 24).
The price index for Q1 dropped to 145.5, from the previous quarter's 147.0. The decline was seen across the whole private residential property market, with non-landed properties in the Rest of Central Region (RCR) leading the drop with 1.7 per cent. Prices for the Core Central Region (CCR) dipped by 0.4 per cent, while the Outside Central Region (OCR) fell 1.1 per cent, the data showed.
Landed property prices also fell by 0.9 per cent, it added.
In terms of rentals of private residential properties, the rental index dropped 1.7 per cent from Q4 2014's 114.1 to Q1 2015's 112.2, URA said. The decline was seen across all segments, with the CCR leading the drop with 1.9 per cent.
Developers had launched 1,189 uncompleted private residential units, excluding Executive Condominiums (ECs), in Q1 - lower than the 1,592 units in the previous quarter. Sales hit 1,311, lower than the 1,376 units sold in Q4 2014, it added.
- CNA/kk
- wong chee tat :)
POSTED: 24 Apr 2015 09:13
UPDATED: 24 Apr 2015 09:15
The price decline was seen across all segments of the private residential property market, with non-landed properties in the Rest of Central Region leading the drop, according to URA statistics.
SINGAPORE: Prices of private residential properties decreased 1 per cent quarter-on-quarter in the first quarter of 2015, representing the sixth straight quarter of price decline, the Urban Redevelopment Authority said on Friday (Apr 24).
The price index for Q1 dropped to 145.5, from the previous quarter's 147.0. The decline was seen across the whole private residential property market, with non-landed properties in the Rest of Central Region (RCR) leading the drop with 1.7 per cent. Prices for the Core Central Region (CCR) dipped by 0.4 per cent, while the Outside Central Region (OCR) fell 1.1 per cent, the data showed.
Landed property prices also fell by 0.9 per cent, it added.
In terms of rentals of private residential properties, the rental index dropped 1.7 per cent from Q4 2014's 114.1 to Q1 2015's 112.2, URA said. The decline was seen across all segments, with the CCR leading the drop with 1.9 per cent.
Developers had launched 1,189 uncompleted private residential units, excluding Executive Condominiums (ECs), in Q1 - lower than the 1,592 units in the previous quarter. Sales hit 1,311, lower than the 1,376 units sold in Q4 2014, it added.
- CNA/kk
- wong chee tat :)
Frasers Centrepoint to build 16-storey hotel at China Square Central site
Frasers Centrepoint to build 16-storey hotel at China Square Central site
POSTED: 27 Apr 2015 13:40
UPDATED: 27 Apr 2015 13:41
The hotel, with a gross floor area of 16,000 square metres, will be operated by Frasers Hospitality under the "Capri by Fraser" brand.
SINGAPORE: Property developer Frasers Centrepoint (FCL) will build a 16-storey hotel at China Square Central following an agreement that will see the developer pay Frasers Commercial Trust (FCOT) around S$44.8 million, FCOT announced on Monday (Apr 27).
The hotel, with a gross floor area of 16,000 square metres and located near Cross Street, will be operated by Frasers Hospitality under the "Capri by Fraser" brand.
“The China Square Central hotel transaction would enable FCOT to unlock and crystalise the value of the additional GFA (gross floor area) and minimise the exposure of FCOT to development risks. The hotel to be developed by FCL will raise the profile of China Square Central as an integrated development," said Mr Low Chee Wah, Chief Executive Officer of Frasers Centrepoint Asset Management (Commercial), in a news release.
"The hotel is expected to further rejuvenate and boost the value of China Square Central in the long run. These are in line with FCOT’s objective of achieving long term growth in distributions and net asset value per unit,” he added.
Separately, FCOT also said it has entered into a conditional sale and purchase agreement with Australand Property to buy a Grade A office building in the Melbourne central business district called 357 Collins Street for A$222.5 million (S$231.6 million).
- CNA/av
- wong chee tat :)
POSTED: 27 Apr 2015 13:40
UPDATED: 27 Apr 2015 13:41
The hotel, with a gross floor area of 16,000 square metres, will be operated by Frasers Hospitality under the "Capri by Fraser" brand.
SINGAPORE: Property developer Frasers Centrepoint (FCL) will build a 16-storey hotel at China Square Central following an agreement that will see the developer pay Frasers Commercial Trust (FCOT) around S$44.8 million, FCOT announced on Monday (Apr 27).
The hotel, with a gross floor area of 16,000 square metres and located near Cross Street, will be operated by Frasers Hospitality under the "Capri by Fraser" brand.
“The China Square Central hotel transaction would enable FCOT to unlock and crystalise the value of the additional GFA (gross floor area) and minimise the exposure of FCOT to development risks. The hotel to be developed by FCL will raise the profile of China Square Central as an integrated development," said Mr Low Chee Wah, Chief Executive Officer of Frasers Centrepoint Asset Management (Commercial), in a news release.
"The hotel is expected to further rejuvenate and boost the value of China Square Central in the long run. These are in line with FCOT’s objective of achieving long term growth in distributions and net asset value per unit,” he added.
Separately, FCOT also said it has entered into a conditional sale and purchase agreement with Australand Property to buy a Grade A office building in the Melbourne central business district called 357 Collins Street for A$222.5 million (S$231.6 million).
- CNA/av
- wong chee tat :)
Singaporeans' understanding of basic money management getting worse: Survey
Singaporeans' understanding of basic money management getting worse: Survey
POSTED: 27 Apr 2015 15:45
UPDATED: 28 Apr 2015 09:11
“Going by the survey results, people in Singapore are finding it harder to keep up with bills, budget effectively and manage unsecured loans,” says MasterCard.
SINGAPORE: The Republic has recorded the largest decline in financial literacy in the Asia Pacific - dropping from second to sixth place, according to the MasterCard Financial Literacy Index.
In a news release on Monday (27 Apr), MasterCard said Singapore slid four index points to score 68 index points in financial literacy, while New Zealand ranked second with 71 points, losing the top spot to Taiwan.
The annual survey, conducted between July and Aug 2014 on 8,087 respondents aged 18 to 64 in 16 countries in the Asia Pacific, covers three components: Basic Money Management, Financial Planning and Investment.
The key reason for the decline in Singapore’s financial literacy is the fall in consumers’ understanding of basic money management, said the release. “Going by the survey results, people in Singapore are finding it harder to keep up with bills, budget effectively and manage unsecured loans.”
Singapore is not the only country that experienced a drop, as MasterCard revealed that the struggle to improve financial literacy “is taking place throughout the region”. Progress towards improving basic finance knowledge and skills across Asia Pacific has stalled as 12 of 16 countries recorded lower scores in financial literacy, the release added.
Other countries that saw a decline include Australia and Japan, both down by two points to fourth and sixteenth place respectively. This was also attributed as the reason behind Hong Kong’s advancement from fifth to third place.
While developed markets tend to rank higher than emerging markets such as Myanmar and Vietnam, Japan remains the outlier, staying in the bottom spot for the 3rd consecutive year.
“There is no one reason for the falling level of financial literacy across the region but the data clearly shows that the young and unemployed need additional support. Educating people so they can plan for the future is a crucial aspect of financial inclusion,” said Mr T V Seshadri, Group Executive, Global Products and Solutions, MasterCard Asia Pacific.
“In both developed and emerging markets, people are struggling to understand basic financial concepts such as inflation," he said. "In addition, while Asia Pacific is a region of savers, the lack of retirement planning should cause particular concern. It is not enough to provide access to financial services, we must ensure that everyone knows how to save, budget and invest so that their wellbeing can be secured over the long term.”
MasterCard Singapore group head and general manager Deborah Heng, added that a practical understanding of how to manage money, including saving and borrowing, should be provided by parents and taught at school.
“Crucial to improving financial literacy is encouraging education at an early age. The goal is to eventually develop financial know-how so that people can effectively manage money matters such as household cash-flows and loans,” she said.
- CNA/ct
- wong chee tat :)
POSTED: 27 Apr 2015 15:45
UPDATED: 28 Apr 2015 09:11
“Going by the survey results, people in Singapore are finding it harder to keep up with bills, budget effectively and manage unsecured loans,” says MasterCard.
SINGAPORE: The Republic has recorded the largest decline in financial literacy in the Asia Pacific - dropping from second to sixth place, according to the MasterCard Financial Literacy Index.
In a news release on Monday (27 Apr), MasterCard said Singapore slid four index points to score 68 index points in financial literacy, while New Zealand ranked second with 71 points, losing the top spot to Taiwan.
The annual survey, conducted between July and Aug 2014 on 8,087 respondents aged 18 to 64 in 16 countries in the Asia Pacific, covers three components: Basic Money Management, Financial Planning and Investment.
The key reason for the decline in Singapore’s financial literacy is the fall in consumers’ understanding of basic money management, said the release. “Going by the survey results, people in Singapore are finding it harder to keep up with bills, budget effectively and manage unsecured loans.”
Singapore is not the only country that experienced a drop, as MasterCard revealed that the struggle to improve financial literacy “is taking place throughout the region”. Progress towards improving basic finance knowledge and skills across Asia Pacific has stalled as 12 of 16 countries recorded lower scores in financial literacy, the release added.
Other countries that saw a decline include Australia and Japan, both down by two points to fourth and sixteenth place respectively. This was also attributed as the reason behind Hong Kong’s advancement from fifth to third place.
While developed markets tend to rank higher than emerging markets such as Myanmar and Vietnam, Japan remains the outlier, staying in the bottom spot for the 3rd consecutive year.
“There is no one reason for the falling level of financial literacy across the region but the data clearly shows that the young and unemployed need additional support. Educating people so they can plan for the future is a crucial aspect of financial inclusion,” said Mr T V Seshadri, Group Executive, Global Products and Solutions, MasterCard Asia Pacific.
“In both developed and emerging markets, people are struggling to understand basic financial concepts such as inflation," he said. "In addition, while Asia Pacific is a region of savers, the lack of retirement planning should cause particular concern. It is not enough to provide access to financial services, we must ensure that everyone knows how to save, budget and invest so that their wellbeing can be secured over the long term.”
MasterCard Singapore group head and general manager Deborah Heng, added that a practical understanding of how to manage money, including saving and borrowing, should be provided by parents and taught at school.
“Crucial to improving financial literacy is encouraging education at an early age. The goal is to eventually develop financial know-how so that people can effectively manage money matters such as household cash-flows and loans,” she said.
- CNA/ct
- wong chee tat :)
More workers laid off in 2014 amid restructuring
More workers laid off in 2014 amid restructuring
By Dylan Loh, Channel NewsAsia
POSTED: 23 Apr 2015 11:11
UPDATED: 24 Apr 2015 00:00
SINGAPORE: More people were laid off in Singapore last year, due to a rise in redundancies among non-residents, according to data released by the Ministry of Manpower (MOM) on Thursday (Apr 23).
In 2014, 12,930 workers were laid off, up from 11,560 in 2013. In other words, 6.3 workers were made redundant for every 1,000 employees, the report said.
However, fewer citizens and Permanent Residents were made redundant last year – 7,240 were laid off last year, as compared to 7,520 in 2013.
The increase in redundancies was mainly from the services sector, said MOM. Layoffs in the construction sector also went up, amid a decline in private sector construction output.
The manufacturing sector, a key pillar of Singapore's economy, contributed less of a share to redundancies in 2014. But experts said this sector should still be closely watched, especially if more firms relocate their activities overseas.
Professionals, managers, executives and technicians (PMETs) formed 51 per cent of the layoffs last year, as compared to 56 per cent in 2013. The likelihood of redundancy among PMETs remained higher than clerical, sales and service workers, and production and related workers.
The top reasons cited by firms for the redundancies were restructuring, re-organisation and poor business. Human resource experts said this is typical of what firms in an economy in transition will experience.
"We are seeing a very strong business economy right now. We are seeing jobs are created, we are seeing the human resources departments in companies still recruiting rapidly. They've got a lot of people they need to bring in, and it's generally a very good market for job seekers," said Mr Ian Grundy, Head of Marketing and Communications Asia at Adecco Personnel.
Mr Erman Tan, President of the Singapore Human Resources Institute said there will be a certain level of layoffs in various industries.
"But we really encourage the workforce to keep a very open mindset and to ensure that they continue to pick up new skills; to have a lifelong learning attitude just to ensure that they have skills sets that are always relevant to the marketplace," he added.
WORKERS FIND NEW JOBS MORE QUICKLY
Residents who were made redundant found replacement jobs more quickly last year, according to the report. The rate of re-entry into employment within six months of being laid off rose for the third consecutive quarter to 59 per cent in Dec 2014, said MOM.
Additionally, 68 per cent of residents who were laid off in the first three quarters of 2014 found jobs by December in the same year. This is compared to 66 per cent of the previous cohort.
About half of those who were laid off found new jobs within a month, and 68 per cent found work in a different industry, the data revealed.
- CNA/xq/dl
- wong chee tat :)
By Dylan Loh, Channel NewsAsia
POSTED: 23 Apr 2015 11:11
UPDATED: 24 Apr 2015 00:00
SINGAPORE: More people were laid off in Singapore last year, due to a rise in redundancies among non-residents, according to data released by the Ministry of Manpower (MOM) on Thursday (Apr 23).
In 2014, 12,930 workers were laid off, up from 11,560 in 2013. In other words, 6.3 workers were made redundant for every 1,000 employees, the report said.
However, fewer citizens and Permanent Residents were made redundant last year – 7,240 were laid off last year, as compared to 7,520 in 2013.
The increase in redundancies was mainly from the services sector, said MOM. Layoffs in the construction sector also went up, amid a decline in private sector construction output.
The manufacturing sector, a key pillar of Singapore's economy, contributed less of a share to redundancies in 2014. But experts said this sector should still be closely watched, especially if more firms relocate their activities overseas.
Professionals, managers, executives and technicians (PMETs) formed 51 per cent of the layoffs last year, as compared to 56 per cent in 2013. The likelihood of redundancy among PMETs remained higher than clerical, sales and service workers, and production and related workers.
The top reasons cited by firms for the redundancies were restructuring, re-organisation and poor business. Human resource experts said this is typical of what firms in an economy in transition will experience.
"We are seeing a very strong business economy right now. We are seeing jobs are created, we are seeing the human resources departments in companies still recruiting rapidly. They've got a lot of people they need to bring in, and it's generally a very good market for job seekers," said Mr Ian Grundy, Head of Marketing and Communications Asia at Adecco Personnel.
Mr Erman Tan, President of the Singapore Human Resources Institute said there will be a certain level of layoffs in various industries.
"But we really encourage the workforce to keep a very open mindset and to ensure that they continue to pick up new skills; to have a lifelong learning attitude just to ensure that they have skills sets that are always relevant to the marketplace," he added.
WORKERS FIND NEW JOBS MORE QUICKLY
Residents who were made redundant found replacement jobs more quickly last year, according to the report. The rate of re-entry into employment within six months of being laid off rose for the third consecutive quarter to 59 per cent in Dec 2014, said MOM.
Additionally, 68 per cent of residents who were laid off in the first three quarters of 2014 found jobs by December in the same year. This is compared to 66 per cent of the previous cohort.
About half of those who were laid off found new jobs within a month, and 68 per cent found work in a different industry, the data revealed.
- CNA/xq/dl
- wong chee tat :)
Monday, April 27, 2015
Sunday, April 26, 2015
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Saturday, April 25, 2015
Rainy days
It was raining quite heavily these few afternoons. Weather is not that hot.
- wong chee tat :)
- wong chee tat :)
Friday, April 24, 2015
Thursday, April 23, 2015
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Wednesday, April 22, 2015
Scheduled Maintenance - POSB
Scheduled Maintenance - POSB
We are constantly upgrading our systems to bring you a more pleasant banking experience. During the mentioned period of scheduled maintenance, some of the services will not be available:
iBanking
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
25 April 2015
|
1000hrs to 2000hrs
|
System Maintenance
- online Equity Trading |
03 May 2015
|
0040hrs to 0045hrs
0835hrs to 0840hrs |
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
03 May 2015
|
0040hrs to 1325hrs
|
System Maintenance
- Online Equity Trading |
10 May 2015
|
0330hrs to 0530hrs
2045hrs to 2215hrs |
System Maintenance
Credit / Debit Card
|
iB - Trading Services
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
25 April 2015
|
1000hrs to 2000hrs
|
System Maintenance
- iB trading services |
28 Mar 2015
|
1000hrs to 2000hrs
|
System Maintenance
- iB trading services |
- wong chee tat :)
rainy evening
Cooling weather because it just rained. I guess I have to sleep early.
- wong chee tat :)
- wong chee tat :)
Tuesday, April 21, 2015
Weather
Yesterday, it was a hot and sunny Sunday. Today, it rained heavily in the afternoon, and it is cool in the evening.
- wong chee tat :)
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Monday, April 20, 2015
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Sunday, April 19, 2015
Bright and sunny sunday
Bright and sunny sunday! I need to drink more water and fruits to hydrate myself and keep myself cool! And my machines need to be cool as well. I don't want those devices to get heated.
- wong che tat :)
- wong che tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Saturday, April 18, 2015
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Friday, April 17, 2015
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Thursday, April 16, 2015
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Wednesday, April 15, 2015
Scheduled Maintenance - POSB
Scheduled Maintenance
We are constantly upgrading our systems to bring you a more pleasant banking experience. During the mentioned period of scheduled maintenance, some of the services will not be available:
iBanking
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
10 May 2015
|
0330hrs to 0530hrs
2045hrs to 2215hrs |
System Maintenance
Credit / Debit Card
|
11 Apr 2015
|
1000hrs to 0000hrs
|
System Maintenance
- Online Equity Trading (SG) - iB trading services |
11 Apr 2015
|
0020hrs to 0000hrs
|
System Maintenance
- Online Equity Trading |
12 Apr 2015
|
0000hrs to 1200hrs
|
System Maintenance
- Online Equity Trading (SG) - iB trading services |
12 Apr 2015
|
0000hrs to 0910hrs
|
System Maintenance
- Online Equity Trading |
12 Apr 2015
|
0020hrs to 0025hrs
0825hrs to 0830hrs |
System Maintenance
- MCSA Funds Transfer |
17 Apr 2015
|
1800hrs to 1810hrs
|
System Maintenance
- Credit Card Payment New: Pay Other Banks' Visa and Mastercard bills New: Make Payment, Add Payee - Send Money to an Overseas Visa Card (Visa Personal Payments) New: Send Money, Add Beneficiary |
iB - Trading Services
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
28 Mar 2015
|
1000hrs to 2000Hrs
|
System Maintenance
- iB trading services |
- wong chee tat :)
Tuesday, April 14, 2015
Monday, April 13, 2015
Sunday, April 12, 2015
Saturday, April 11, 2015
Friday, April 10, 2015
Dallas Buyers Club downloads: M1 passed customer details to law firm on court order
Dallas Buyers Club downloads: M1 passed customer details to law firm on court order
The Singapore telco says it was acting on an order from the High Court, which has also been received by StarHub
PUBLISHED: 10:01 AM, APRIL 8, 2015
SINGAPORE — Following a court order, M1 said it has disclosed customer information to a local law firm over alleged illegal movie downloads.
In response to queries from Channel NewsAsia, an M1 spokesperson said today (April 8) that it disclosed customers’ names, NRIC numbers and addresses to Dallas Buyers Club LLC following a High Court order in January.
The telco was responding to reports that customers who allegedly made illegal downloads of the movie Dallas Buyers Club had received letters asking for compensation. The letters reportedly claimed that M1 had received a court order to reveal subscribers’ information to a law firm representing Dallas Buyers Club LLC.
“M1 did not provide personal data of the affected customers to Dallas Buyers Club LLC when it first requested for the information,” a spokesperson for the telco told Channel NewsAsia today.
“Dallas Buyers Club LLC subsequently applied for a hearing at the High Court. After hearing the parties, the Assistant Registrar of the High Court granted an order compelling M1 to disclose the names, NRIC numbers and physical addresses of the affected customers.”
“M1 has accordingly complied with this order.”
STARHUB 'IN PROCESS OF COMPLYING'
Separately, StarHub on Wednesday told Channel NewsAsia that it had also received the High Court order.
“We have received a High Court order to provide details of some customers based on particular IP addresses, and are in the process of complying with this court order,” said Ms Caitlin Fua, Assistant Vice-President of corporate communications at StarHub.
StarHub added that it has engaged external litigation to act for the company, to "ensure that the plaintiff’s claim is properly assessed by the High Court".
On Monday, internet service providers in Australia were forced to hand over the personal details of almost 5,000 users who were alleged to have shared the movie on online file-sharing networks such as BitTorrent. Similar action is being sought by Dallas Buyers Club LLC in the United States.
The movie, made on a US$5 million (S$6.79 million) budget, won Best Actor, Best Supporting Actor and Best Makeup at the 86th Academy Awards in 2014. CHANNEL NEWSASIA
- wong chee tat ):
The Singapore telco says it was acting on an order from the High Court, which has also been received by StarHub
PUBLISHED: 10:01 AM, APRIL 8, 2015
SINGAPORE — Following a court order, M1 said it has disclosed customer information to a local law firm over alleged illegal movie downloads.
In response to queries from Channel NewsAsia, an M1 spokesperson said today (April 8) that it disclosed customers’ names, NRIC numbers and addresses to Dallas Buyers Club LLC following a High Court order in January.
The telco was responding to reports that customers who allegedly made illegal downloads of the movie Dallas Buyers Club had received letters asking for compensation. The letters reportedly claimed that M1 had received a court order to reveal subscribers’ information to a law firm representing Dallas Buyers Club LLC.
“M1 did not provide personal data of the affected customers to Dallas Buyers Club LLC when it first requested for the information,” a spokesperson for the telco told Channel NewsAsia today.
“Dallas Buyers Club LLC subsequently applied for a hearing at the High Court. After hearing the parties, the Assistant Registrar of the High Court granted an order compelling M1 to disclose the names, NRIC numbers and physical addresses of the affected customers.”
“M1 has accordingly complied with this order.”
STARHUB 'IN PROCESS OF COMPLYING'
Separately, StarHub on Wednesday told Channel NewsAsia that it had also received the High Court order.
“We have received a High Court order to provide details of some customers based on particular IP addresses, and are in the process of complying with this court order,” said Ms Caitlin Fua, Assistant Vice-President of corporate communications at StarHub.
StarHub added that it has engaged external litigation to act for the company, to "ensure that the plaintiff’s claim is properly assessed by the High Court".
On Monday, internet service providers in Australia were forced to hand over the personal details of almost 5,000 users who were alleged to have shared the movie on online file-sharing networks such as BitTorrent. Similar action is being sought by Dallas Buyers Club LLC in the United States.
The movie, made on a US$5 million (S$6.79 million) budget, won Best Actor, Best Supporting Actor and Best Makeup at the 86th Academy Awards in 2014. CHANNEL NEWSASIA
- wong chee tat ):
DBS, OCBC and UOB CEOs earned an average of S$1m more last year
DBS, OCBC and UOB CEOs earned an average of S$1m more last year
PUBLISHED: 8:09 PM, APRIL 6, 2015
SINGAPORE — The chief executive officers (CEO) of Singapore’s three local banking groups saw their total remuneration rise by around S$1 million each last year as profits grew.
According to DBS Group’s latest annual report, CEO Piyush Gupta earned S$10.12 million last year, up from S$9.2 million in 2013. The higher pay comprised a base salary of S$1.2 million, S$3.79 million cash bonus, S$5.07 million in shares and S$55,545 in other non-cash payments.
DBS, Singapore’s and Southeast Asia’s largest banking group, said Mr Gupta’s remuneration took into account the bank’s performance over the short- and long-term.
It said that net profit hit an all-time high of S$4.05 billion last year, and that under Mr Gupta, DBS has strengthened its leadership position in Singapore, grown its Hong Kong business, and built regional franchises in areas such as wealth management and global transaction service
United Overseas Bank (UOB), meanwhile, said that deputy chairman and CEO Wee Ee Cheong’s remuneration was S$10.22 million last year, up from S$9.2 million in 2013.
Oversea-Chinese Banking Corp (OCBC) said CEO Samuel Tsien earned S$9.89 million last year, up from S$8.82 million in 2013. CHANNEL NEWSASIA
- wong chee tat ):
PUBLISHED: 8:09 PM, APRIL 6, 2015
SINGAPORE — The chief executive officers (CEO) of Singapore’s three local banking groups saw their total remuneration rise by around S$1 million each last year as profits grew.
According to DBS Group’s latest annual report, CEO Piyush Gupta earned S$10.12 million last year, up from S$9.2 million in 2013. The higher pay comprised a base salary of S$1.2 million, S$3.79 million cash bonus, S$5.07 million in shares and S$55,545 in other non-cash payments.
DBS, Singapore’s and Southeast Asia’s largest banking group, said Mr Gupta’s remuneration took into account the bank’s performance over the short- and long-term.
It said that net profit hit an all-time high of S$4.05 billion last year, and that under Mr Gupta, DBS has strengthened its leadership position in Singapore, grown its Hong Kong business, and built regional franchises in areas such as wealth management and global transaction service
United Overseas Bank (UOB), meanwhile, said that deputy chairman and CEO Wee Ee Cheong’s remuneration was S$10.22 million last year, up from S$9.2 million in 2013.
Oversea-Chinese Banking Corp (OCBC) said CEO Samuel Tsien earned S$9.89 million last year, up from S$8.82 million in 2013. CHANNEL NEWSASIA
- wong chee tat ):
HDB resale flat prices continue to fall
HDB resale flat prices continue to fall
BY MATTHIAS TAY
PUBLISHED: 1:23 PM, APRIL 9, 2015
SINGAPORE – Prices of Housing and Development Board resale flats continued to fall, with the latest report from SRX Property showing that there was a 0.8 per cent drop in prices last month compared to February.
The decline was 0.8 per cent in non-mature estates and 0.9 per cent in mature estates. Compared to March last year, prices are down 6.6 per cent, said SRX Property today (April 9).
Meanwhile, transaction volume rose 17.5 per cent, from 1,148 flats in February to 1,349 flats last month.
Flats continued to be sold below their estimated market value, with the median Transaction Over X-Value – SRX’s measure of whether people are underpaying or overpaying for properties – at negative S$3,000. This however is improved from the negative S$4,000 seen in February.
Resale flats in areas like Bukit Merah and Serangoon were sold above their estimated market value while flats in Hougang, Yishun and Choa Chu Kang below their estimated market value.
- wong chee tat :)
BY MATTHIAS TAY
PUBLISHED: 1:23 PM, APRIL 9, 2015
SINGAPORE – Prices of Housing and Development Board resale flats continued to fall, with the latest report from SRX Property showing that there was a 0.8 per cent drop in prices last month compared to February.
The decline was 0.8 per cent in non-mature estates and 0.9 per cent in mature estates. Compared to March last year, prices are down 6.6 per cent, said SRX Property today (April 9).
Meanwhile, transaction volume rose 17.5 per cent, from 1,148 flats in February to 1,349 flats last month.
Flats continued to be sold below their estimated market value, with the median Transaction Over X-Value – SRX’s measure of whether people are underpaying or overpaying for properties – at negative S$3,000. This however is improved from the negative S$4,000 seen in February.
Resale flats in areas like Bukit Merah and Serangoon were sold above their estimated market value while flats in Hougang, Yishun and Choa Chu Kang below their estimated market value.
- wong chee tat :)
New Buddhist monastery to be built in Woodlands
New Buddhist monastery to be built in Woodlands
The five-storey complex run by BW Monastery will also house a restaurant, medical clinic and a library.
BY FARIS MOKHTAR
PUBLISHED: 9:09 PM, APRIL 7, 2015
SINGAPORE — A new Buddhist monastery is set to be built in Woodlands, with construction expected to be completed by the end of next year. It will be located at the junction of Woodlands Drive 16 and Woodlands Avenue 6.
The five-storey complex, which is run by Buddhist group BW Monastery, will also house a restaurant, medical clinic and a library, and sits on a site about half the size of a football field.
A groundbreaking ceremony was held today at the site and was attended by National Development Minister Khaw Boon Wan.
The Buddhist group said the new monastery is part of its expansion plans to support its growing membership, which has risen to 3,500 today. It currently houses its headquarters at the Citiraya Centre in Lorong 27, Geylang.
With the new facility, BW Monastery expects to grow its membership to around 5,000. CHANNEL NEWSASIA
- wong chee tat :)
The five-storey complex run by BW Monastery will also house a restaurant, medical clinic and a library.
BY FARIS MOKHTAR
PUBLISHED: 9:09 PM, APRIL 7, 2015
SINGAPORE — A new Buddhist monastery is set to be built in Woodlands, with construction expected to be completed by the end of next year. It will be located at the junction of Woodlands Drive 16 and Woodlands Avenue 6.
The five-storey complex, which is run by Buddhist group BW Monastery, will also house a restaurant, medical clinic and a library, and sits on a site about half the size of a football field.
A groundbreaking ceremony was held today at the site and was attended by National Development Minister Khaw Boon Wan.
The Buddhist group said the new monastery is part of its expansion plans to support its growing membership, which has risen to 3,500 today. It currently houses its headquarters at the Citiraya Centre in Lorong 27, Geylang.
With the new facility, BW Monastery expects to grow its membership to around 5,000. CHANNEL NEWSASIA
- wong chee tat :)
Illegal downloads: Singtel provides subscriber details after court order
Illegal downloads: Singtel provides subscriber details after court order
PUBLISHED: 12:57 PM, APRIL 8, 2015
UPDATED: 4:10 AM, APRIL 9, 2015
SINGAPORE — Singtel today (April 8) become the latest Internet service provider (ISP) here to comply with a court order to release the details of subscribers who allegedly downloaded the Oscar-winning film Dallas Buyers Club illegally.
A Singtel spokesperson said today it received the High Court’s order yesterday. It must now turn over requested information, including the names, IC numbers and addresses of subscribers linked to the Internet Protocol (IP) addresses identified, of some 150 subscribers to Dallas Buyers Club LLC, which owns the film’s rights, by the end of the month.
The telco, she said, had received a letter in October last year from Samuel Seow Law Corporation, which represents the United States-based film studio’s suit in Singapore, requesting identities of some of its subscribers.
It had refused to comply with the court order, and engaged a lawyer to contest the order.
Lawyer Edmund Eng from law firm Shook Lin and Bok had argued that Singtel had a legal obligation to keep its customers’ information confidential and requested the court to consider if evidence provided by Dallas Buyers Club LLC was sufficient to support their claims of infringement and compel disclosure of subscribers’ identities. However, the court allowed the order to proceed.
Dallas Buyers Club LLC has reportedly identified more than 500 Singapore IP addresses here through which the movie was said to have been downloaded illegally. Apart from Singtel, both M1 and Starhub, which had also engaged lawyers, were ordered by the court to turn over information about their subscribers.
Over the weekend, letters were reportedly sent to Internet users here asking for a written offer of damages and costs within three days of receiving the letter.
Lawyer Wendy Low from Rajah & Tann LLP said she has received informal queries seeking legal advice and confirmed the letters did not specify the amount of damages sought.
This is unlike the approach taken in the US, where legal action has been threatened against 1,000 Internet users. The users were told they were liable for damages of up to US$150,000 (S$202,500) in court unless settlement fees of up to US$7,000 were paid, reported the Sydney Morning Herald.
In Australia, the Federal Court yesterday ordered six local ISPs to disclose the identities of some 4,700 people it alleges infringed the film’s copyrights.
Lawyers TODAY spoke to found it unusual that a settlement amount has not been specified in Singapore. Digital media lawyer Matt Pollins from Olswang Asia noted it is difficult to determine a precise level of damages here as there are fewer past cases of infringement claims against end users, in contrast to the US where benchmarks are more certain.
Under the Republic’s Copyright Act, statutory damages are subject to a ceiling of S$10,000 for each copyrighted work.
Mr Bryan Tan from Pinsent Masons said that the studio might be lending users a hand by allowing them to make offers reasonable to them. “This will also allow them to resolve more cases faster,” he said.
Technology and intellectual property lawyer Han Teng Wah, however, felt legal action is not the best way to deter copyright infringement.
“The people you round up are young and ignorant, they may not know what their legal rights are. The system should move to educate users on how illegal sharing will kill the creative industry,” said Mr Han.
- wong chee tat :)
PUBLISHED: 12:57 PM, APRIL 8, 2015
UPDATED: 4:10 AM, APRIL 9, 2015
SINGAPORE — Singtel today (April 8) become the latest Internet service provider (ISP) here to comply with a court order to release the details of subscribers who allegedly downloaded the Oscar-winning film Dallas Buyers Club illegally.
A Singtel spokesperson said today it received the High Court’s order yesterday. It must now turn over requested information, including the names, IC numbers and addresses of subscribers linked to the Internet Protocol (IP) addresses identified, of some 150 subscribers to Dallas Buyers Club LLC, which owns the film’s rights, by the end of the month.
The telco, she said, had received a letter in October last year from Samuel Seow Law Corporation, which represents the United States-based film studio’s suit in Singapore, requesting identities of some of its subscribers.
It had refused to comply with the court order, and engaged a lawyer to contest the order.
Lawyer Edmund Eng from law firm Shook Lin and Bok had argued that Singtel had a legal obligation to keep its customers’ information confidential and requested the court to consider if evidence provided by Dallas Buyers Club LLC was sufficient to support their claims of infringement and compel disclosure of subscribers’ identities. However, the court allowed the order to proceed.
Dallas Buyers Club LLC has reportedly identified more than 500 Singapore IP addresses here through which the movie was said to have been downloaded illegally. Apart from Singtel, both M1 and Starhub, which had also engaged lawyers, were ordered by the court to turn over information about their subscribers.
Over the weekend, letters were reportedly sent to Internet users here asking for a written offer of damages and costs within three days of receiving the letter.
Lawyer Wendy Low from Rajah & Tann LLP said she has received informal queries seeking legal advice and confirmed the letters did not specify the amount of damages sought.
This is unlike the approach taken in the US, where legal action has been threatened against 1,000 Internet users. The users were told they were liable for damages of up to US$150,000 (S$202,500) in court unless settlement fees of up to US$7,000 were paid, reported the Sydney Morning Herald.
In Australia, the Federal Court yesterday ordered six local ISPs to disclose the identities of some 4,700 people it alleges infringed the film’s copyrights.
Lawyers TODAY spoke to found it unusual that a settlement amount has not been specified in Singapore. Digital media lawyer Matt Pollins from Olswang Asia noted it is difficult to determine a precise level of damages here as there are fewer past cases of infringement claims against end users, in contrast to the US where benchmarks are more certain.
Under the Republic’s Copyright Act, statutory damages are subject to a ceiling of S$10,000 for each copyrighted work.
Mr Bryan Tan from Pinsent Masons said that the studio might be lending users a hand by allowing them to make offers reasonable to them. “This will also allow them to resolve more cases faster,” he said.
Technology and intellectual property lawyer Han Teng Wah, however, felt legal action is not the best way to deter copyright infringement.
“The people you round up are young and ignorant, they may not know what their legal rights are. The system should move to educate users on how illegal sharing will kill the creative industry,” said Mr Han.
- wong chee tat :)
Mixed response from local film-makers on illegal download crackdown
Mixed response from local film-makers on illegal download crackdown
Some say movie piracy penalties must have ‘bite’ to be effective while others say in order to curb piracy education is better than punishment
BY SERENE LIM
PUBLISHED: 11:33 AM, APRIL 9, 2015
UPDATED: 11:34 AM, APRIL 9, 2015
SINGAPORE — Responses from the film community here to the news that the producers of the Oscar-winning movie Dallas Buyers Club are seeking compensation for allegedly illegal downloads have been mixed.
Some felt the move made a strong statement against piracy, while others felt it would do little to stamp out the problem as new ways will be found to circumvent any crackdown.
The studio, Dallas Buyers Club LLC, has identified more than 500 Internet Protocol addresses in Singapore and has hired Samuel Seow Law Corporation to serve letters to them, demanding compensation. Internet service providers M1, StarHub and Singtel have been ordered by the High Court to turn over the identities of their subscribers who allegedly downloaded the film.
Mr Thomas Chia, director of independent film distributing company Lighthouse Pictures, said the move was a welcome one. “Piracy to me is like mugging of film-makers and everyone who works on a film in broad daylight,” he said. “Look at how piracy has affected the film industry — mum and pop video stores have gone under. What disturbs me is how so many people think it’s their birthright to download, and that there’s nothing wrong at all (with illegal downloading).”
However, film-maker Royston Tan, best known for box office successes 881 and 12 Lotus, said he was not in favour of legal action, because “it’s like severing a relationship with the audience”.
“The more you suppress it, the more people will find ways to get around this. They can change their IP addresses or use a VPN (Virtual Private Number),” said Mr Tan, adding that education was better than punishment.
Mr Ken Kwek, the director of Unlucky Plaza, which is set for release later this month, felt such a crackdown would probably result in people finding new means to get free movies. “I guard my work from script to screen, but once the film’s been released, especially on online platforms and digital formats, I know somebody’s going to pirate it,” he said. “Maybe I’m pessimistic, but I don’t think there’s anything you can really do to prevent piracy. It’s too big a thing.”
Mr Chia was also sceptical if legal action would be the silver bullet to end piracy. “It would depend on severity of the penalty. It has to bite for it to be effective,” he added. SERENE LIM
- wong chee tat :)
Some say movie piracy penalties must have ‘bite’ to be effective while others say in order to curb piracy education is better than punishment
BY SERENE LIM
PUBLISHED: 11:33 AM, APRIL 9, 2015
UPDATED: 11:34 AM, APRIL 9, 2015
SINGAPORE — Responses from the film community here to the news that the producers of the Oscar-winning movie Dallas Buyers Club are seeking compensation for allegedly illegal downloads have been mixed.
Some felt the move made a strong statement against piracy, while others felt it would do little to stamp out the problem as new ways will be found to circumvent any crackdown.
The studio, Dallas Buyers Club LLC, has identified more than 500 Internet Protocol addresses in Singapore and has hired Samuel Seow Law Corporation to serve letters to them, demanding compensation. Internet service providers M1, StarHub and Singtel have been ordered by the High Court to turn over the identities of their subscribers who allegedly downloaded the film.
Mr Thomas Chia, director of independent film distributing company Lighthouse Pictures, said the move was a welcome one. “Piracy to me is like mugging of film-makers and everyone who works on a film in broad daylight,” he said. “Look at how piracy has affected the film industry — mum and pop video stores have gone under. What disturbs me is how so many people think it’s their birthright to download, and that there’s nothing wrong at all (with illegal downloading).”
However, film-maker Royston Tan, best known for box office successes 881 and 12 Lotus, said he was not in favour of legal action, because “it’s like severing a relationship with the audience”.
“The more you suppress it, the more people will find ways to get around this. They can change their IP addresses or use a VPN (Virtual Private Number),” said Mr Tan, adding that education was better than punishment.
Mr Ken Kwek, the director of Unlucky Plaza, which is set for release later this month, felt such a crackdown would probably result in people finding new means to get free movies. “I guard my work from script to screen, but once the film’s been released, especially on online platforms and digital formats, I know somebody’s going to pirate it,” he said. “Maybe I’m pessimistic, but I don’t think there’s anything you can really do to prevent piracy. It’s too big a thing.”
Mr Chia was also sceptical if legal action would be the silver bullet to end piracy. “It would depend on severity of the penalty. It has to bite for it to be effective,” he added. SERENE LIM
- wong chee tat :)
Scheduled Maintenance - POSB
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Thursday, April 9, 2015
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'Strong interest' at soft launch of North Park Residences: Developer
'Strong interest' at soft launch of North Park Residences: Developer
POSTED: 06 Apr 2015 23:04
UPDATED: 06 Apr 2015 23:06
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to developer Frasers Centrepoint.
SINGAPORE: There was "strong interest" in North Park Residences during its soft launch on Sunday (Apr 5), with 313 of 430 units sold, developer Frasers Centrepoint (FC) announced in a media release on Monday.
North Park Residences will be part of the Northpoint City integrated development, which will comprise the Yishun Integrated Transport Hub, Nee Soon Central Community Club, a Town Plaza, a Community Garden and retail and F&B outlets..
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to the release, with Singaporeans accounting for more than 88 per cent of buyers.
Phase 1 units of North Park Residences were released at an average pricing of S$1,300 psf, with prices starting from S$612,000 for a Studio unit to S$1.89 million for a five-bedroom unit.
Mr Cheang Kok Kheong, CEO of Development and Property for FC, said the healthy demand for North Park Residences indicates that buyers are aware of the advantages of its location in Yishun, as well as of being part of an integrated development.
North Park Residences will be officially launched for sale on Saturday, FC said. It is expected to be ready in 2018.
- CNA/dl
- wong chee tat :)
POSTED: 06 Apr 2015 23:04
UPDATED: 06 Apr 2015 23:06
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to developer Frasers Centrepoint.
SINGAPORE: There was "strong interest" in North Park Residences during its soft launch on Sunday (Apr 5), with 313 of 430 units sold, developer Frasers Centrepoint (FC) announced in a media release on Monday.
North Park Residences will be part of the Northpoint City integrated development, which will comprise the Yishun Integrated Transport Hub, Nee Soon Central Community Club, a Town Plaza, a Community Garden and retail and F&B outlets..
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to the release, with Singaporeans accounting for more than 88 per cent of buyers.
Phase 1 units of North Park Residences were released at an average pricing of S$1,300 psf, with prices starting from S$612,000 for a Studio unit to S$1.89 million for a five-bedroom unit.
Mr Cheang Kok Kheong, CEO of Development and Property for FC, said the healthy demand for North Park Residences indicates that buyers are aware of the advantages of its location in Yishun, as well as of being part of an integrated development.
North Park Residences will be officially launched for sale on Saturday, FC said. It is expected to be ready in 2018.
- CNA/dl
- wong chee tat :)
No-commission insurance policies now available
No-commission insurance policies now available
By Angela Teng and Chloe Wang
POSTED: 07 Apr 2015 14:15
UPDATED: 07 Apr 2015 21:58
TODAY reports: An online portal was also launched so consumers can compare insurance products on the markets more easily.
SINGAPORE: Consumers can buy basic life insurance policies directly from insurance companies at customer service centres or websites, without going through financial advisers and incurring commissions, from Tuesday (Apr 7).
The Direct Purchase Insurance (DPI) initiative, which was implemented by the Monetary Authority of Singapore (MAS), comprises term life insurance products with total and permanent disability (TPD) cover; whole life insurance products with TPD cover; and optional critical illness rider attached to term life or whole life insurance products.
The initiative is designed to meet the basic protection needs of individuals, and comes without financial advice.
COMPAREFIRST ONLINE PORTAL LAUNCHED
An online portal www.comparefirst.sg was also launched to allow consumers to compare insurance products on the market and pick the one that best suits them.
The portal was set up by the Life Insurance Association Singapore (LIA), MAS, Consumers Association of Singapore and MoneySENSE. It features five categories of insurance products: Term life insurance, whole life insurance, endowment policies, DPIs, and investment-linked life insurance policies. A dozen insurance companies are listed on the web aggregator, such as AIA Singapore, AXA Life Insurance, Aviva, Great Eastern Life Assurance, NTUC Income and Prudential.
LIA said that its priority is to "help individuals make better informed choices when making their purchase of life insurance products".
For instance, a 30-year-old man looking for term life insurance till he is 65 will need to fill in a few fields, and the web portal will show the key features and premiums for similar products offered by various insurers on a single screen.
LIA said the move could help to improve the take-up rate of life insurance among Singaporeans.
"Hopefully, the awareness of life insurance and understanding of insurance products will increase. With that, I think that will help to reduce the level of insurance gap among the consumers, so as a result, we hope that with this initiative, more people will come forth and access life insurance products," said Mr Khoo Kah Siang, president of the Life Insurance Association Singapore.
WEB PORTAL AIMS TO ENHANCE TRANSPARENCY, BOOST COMPETITIVENESS
The web portal is also expected to enhance transparency and boost competitiveness among life insurers, encouraging companies to further develop their own products. It could also help less well-known players in the industry to reach out to more consumers.
Said Ms Kwek Perroy Li Choo, chief marketing officer at AXA Life Singapore: "Online tools like compareFIRST would allow the lesser-known brands to be featured alongside the larger or more commonly-known brands, and customers would, for the first time, be able to see at one glance the entire list of companies that will offer a particular product that they like."
LIA added: “We believe that these two initiatives will provide individuals more choices and help them make better informed decisions when purchasing insurance.”
compareFIRST and DPI are part of the recommendations made by the Financial Advisory Industry Review (FAIR) panel in 2013.
-TODAY/CNA/kk/dl
- wong chee tat :)
By Angela Teng and Chloe Wang
POSTED: 07 Apr 2015 14:15
UPDATED: 07 Apr 2015 21:58
TODAY reports: An online portal was also launched so consumers can compare insurance products on the markets more easily.
SINGAPORE: Consumers can buy basic life insurance policies directly from insurance companies at customer service centres or websites, without going through financial advisers and incurring commissions, from Tuesday (Apr 7).
The Direct Purchase Insurance (DPI) initiative, which was implemented by the Monetary Authority of Singapore (MAS), comprises term life insurance products with total and permanent disability (TPD) cover; whole life insurance products with TPD cover; and optional critical illness rider attached to term life or whole life insurance products.
The initiative is designed to meet the basic protection needs of individuals, and comes without financial advice.
COMPAREFIRST ONLINE PORTAL LAUNCHED
An online portal www.comparefirst.sg was also launched to allow consumers to compare insurance products on the market and pick the one that best suits them.
The portal was set up by the Life Insurance Association Singapore (LIA), MAS, Consumers Association of Singapore and MoneySENSE. It features five categories of insurance products: Term life insurance, whole life insurance, endowment policies, DPIs, and investment-linked life insurance policies. A dozen insurance companies are listed on the web aggregator, such as AIA Singapore, AXA Life Insurance, Aviva, Great Eastern Life Assurance, NTUC Income and Prudential.
LIA said that its priority is to "help individuals make better informed choices when making their purchase of life insurance products".
For instance, a 30-year-old man looking for term life insurance till he is 65 will need to fill in a few fields, and the web portal will show the key features and premiums for similar products offered by various insurers on a single screen.
LIA said the move could help to improve the take-up rate of life insurance among Singaporeans.
"Hopefully, the awareness of life insurance and understanding of insurance products will increase. With that, I think that will help to reduce the level of insurance gap among the consumers, so as a result, we hope that with this initiative, more people will come forth and access life insurance products," said Mr Khoo Kah Siang, president of the Life Insurance Association Singapore.
WEB PORTAL AIMS TO ENHANCE TRANSPARENCY, BOOST COMPETITIVENESS
The web portal is also expected to enhance transparency and boost competitiveness among life insurers, encouraging companies to further develop their own products. It could also help less well-known players in the industry to reach out to more consumers.
Said Ms Kwek Perroy Li Choo, chief marketing officer at AXA Life Singapore: "Online tools like compareFIRST would allow the lesser-known brands to be featured alongside the larger or more commonly-known brands, and customers would, for the first time, be able to see at one glance the entire list of companies that will offer a particular product that they like."
LIA added: “We believe that these two initiatives will provide individuals more choices and help them make better informed decisions when purchasing insurance.”
compareFIRST and DPI are part of the recommendations made by the Financial Advisory Industry Review (FAIR) panel in 2013.
-TODAY/CNA/kk/dl
- wong chee tat :)
Monday, April 6, 2015
Sunday, April 5, 2015
Saturday, April 4, 2015
Friday, April 3, 2015
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- wong chee tat :)
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