ANZ to roll out improved cash management platform
By Wong Siew Ying | Posted: 06 December 2011 1950 hrs
SINGAPORE: The Australia and New Zealand Banking Group (ANZ) intends to roll out an improved cash management platform in the coming months.
The platform is currently being piloted in Singapore and Hong Kong.
ANZ said it includes for example an Internet platform to provide business clients with solutions for their receivables.
The bank said its cash management revenue in Asia Pacific, Europe and America grew by 59 per cent on-year in the 2011 financial year.
ANZ is also planning to build its operations in debt markets, interest rates, foreign exchange and trade finance.
ANZ Singapore said it hopes to play a leading role in sectors like natural resources, infrastructure and agri-business for its institutional banking business.
Its private banking business is also larger, after its acquisition of Royal Bank of Scotland's (RBS) businesses in Singapore and Taiwan last year.
ANZ Singapore said its private bank currently hires about 100 client-facing staff.
- CNA/fa
- wong chee tat :)
Monday, December 12, 2011
Singaporeans gather to see lunar eclipse
Singaporeans gather to see lunar eclipse
By Qiuyi Tan | Posted: 11 December 2011 0000 hrs
SINGAPORE: Hundreds gathered at Marina Bay on Saturday evening to witness a total lunar eclipse, a rare view in Singapore.
Some moongazers were happy to use telescopes offered by the local astronomical community, Singastro.
A total eclipse only happens during a full moon. It occurs when the moon passes through the Earth's shadow.
Channel NewsAsia's camera crew caught the very start of the celestial event, around 7.30pm, when the bottom left of the moon started to darken.
The eclipse can also be seen in other parts of the world, from Alaska to Central Asia and Australia.
- CNA/ir
- wong chee tat :)
By Qiuyi Tan | Posted: 11 December 2011 0000 hrs
SINGAPORE: Hundreds gathered at Marina Bay on Saturday evening to witness a total lunar eclipse, a rare view in Singapore.
Some moongazers were happy to use telescopes offered by the local astronomical community, Singastro.
A total eclipse only happens during a full moon. It occurs when the moon passes through the Earth's shadow.
Channel NewsAsia's camera crew caught the very start of the celestial event, around 7.30pm, when the bottom left of the moon started to darken.
The eclipse can also be seen in other parts of the world, from Alaska to Central Asia and Australia.
- CNA/ir
- wong chee tat :)
Mead Johnson Nutrition invests US$325m in S'pore facilities
Mead Johnson Nutrition invests US$325m in S'pore facilities
By Wong Siew Ying | Posted: 09 December 2011 1447 hrs
SINGAPORE: Mead Johnson Nutrition is investing US$325 million in new manufacturing and R&D facilities in Singapore - the largest capital investment in the company's history.
It said the plant will enable the company to better serve its customers in Asia as well as to support its fast growing business in the region.
The investment is expected to strengthen Mead Johnson Nutrition's regional supply chain and improve its overall operating efficiency.
The company said the new plant will be staffed by new hires in Singapore and personnel transferred from its operations in other locations.
Mead Johnson is a global leader in pediatric nutrition and it develops and distributes over 70 products in more than 50 markets worldwide.
- CNA/cc
- wong chee tat :)
By Wong Siew Ying | Posted: 09 December 2011 1447 hrs
SINGAPORE: Mead Johnson Nutrition is investing US$325 million in new manufacturing and R&D facilities in Singapore - the largest capital investment in the company's history.
It said the plant will enable the company to better serve its customers in Asia as well as to support its fast growing business in the region.
The investment is expected to strengthen Mead Johnson Nutrition's regional supply chain and improve its overall operating efficiency.
The company said the new plant will be staffed by new hires in Singapore and personnel transferred from its operations in other locations.
Mead Johnson is a global leader in pediatric nutrition and it develops and distributes over 70 products in more than 50 markets worldwide.
- CNA/cc
- wong chee tat :)
Zurich Financial Services plans to boost life insurance business in Singapore
Zurich Financial Services plans to boost life insurance business in Singapore
By Wong Siew Ying | Posted: 12 December 2011 1856 hrs
SINGAPORE : Zurich Financial Services plans to double its life insurance premiums generated in Singapore over the next three years.
The company has made an application to the Monetary Authority of Singapore for a full subsidiary licence for its life insurance business.
Giving an update on its business, the insurance company says the licence will allow it to tap into the other 95 per cent of the life insurance market in Singapore.
Currently, Zurich Financial Services serves mainly large corporates, high net worth individuals and the expatriate community due to licensing restrictions.
Regulations only permit the company to service clients who has the ability to invest at least US$5,000 per annum over ten years.
Next year, it hopes to roll out more insurance solutions for Singaporeans and Permanent Residents, such as savings and retirement offerings.
Zurich Financial expects emerging markets to contribute about half of its new life insurance business by 2013.
Emerging market operations currently account for about 26 per cent of group's new life insurance business, before including recent acquisitions in Latin America and Malaysia.
Overall, Zurich Financial Services booked a US$4.9 billion in business operating profits in 2010.
Martin Senn, CEO, Zurich Financial Services, said: "A year ago, we have set a target for new business value for the life business of 30 per cent for all emerging markets. That was a target we wanted to achieve by end 2013. We are now very close to that, there is high expectation that we will exceed that target by 2013 and Asia will be somewhere in the area of 20 per cent participation of that target."
- CNA/ch
- wong chee tat :)
By Wong Siew Ying | Posted: 12 December 2011 1856 hrs
SINGAPORE : Zurich Financial Services plans to double its life insurance premiums generated in Singapore over the next three years.
The company has made an application to the Monetary Authority of Singapore for a full subsidiary licence for its life insurance business.
Giving an update on its business, the insurance company says the licence will allow it to tap into the other 95 per cent of the life insurance market in Singapore.
Currently, Zurich Financial Services serves mainly large corporates, high net worth individuals and the expatriate community due to licensing restrictions.
Regulations only permit the company to service clients who has the ability to invest at least US$5,000 per annum over ten years.
Next year, it hopes to roll out more insurance solutions for Singaporeans and Permanent Residents, such as savings and retirement offerings.
Zurich Financial expects emerging markets to contribute about half of its new life insurance business by 2013.
Emerging market operations currently account for about 26 per cent of group's new life insurance business, before including recent acquisitions in Latin America and Malaysia.
Overall, Zurich Financial Services booked a US$4.9 billion in business operating profits in 2010.
Martin Senn, CEO, Zurich Financial Services, said: "A year ago, we have set a target for new business value for the life business of 30 per cent for all emerging markets. That was a target we wanted to achieve by end 2013. We are now very close to that, there is high expectation that we will exceed that target by 2013 and Asia will be somewhere in the area of 20 per cent participation of that target."
- CNA/ch
- wong chee tat :)
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