Blog Updates:
Minor updates:
- Update labels on some posts
Will continue to make minor improvements for this blog!
- wong chee tat :)
Monday, November 30, 2015
Two industrial sites launched by JTC
A site at Tampines Industrial Drive was launched under the Confirmed List, while another site at Woodlands Height was launched under the Reserve List, says JTC.
POSTED: 24 Nov 2015 11:21
SINGAPORE: JTC on Tuesday (Nov 24) announced it is launching two industrial sites under the second half 2015 Industrial Government Land Sales Programme.
Under the Programme, the 0.41-hectare plot of land at Tampines Industrial Drive was launched under the Confirmed List. It is zoned for Business-2 development and has a 20-year tenure with a maximum permissible gross plot ratio of 1.4. Interested parties are to apply before the tender closes on Jan 19 at 11am, said the press release.
JTC has also launched a 1.61-ha Reserve List site at Woodlands Height. The site is zoned for Business-1 development and has a 30-year tenure with a maximum permissible gross plot ratio of 2.5.
Under the Reserve List system, a land parcel will only be released for sale if it receives an offer of a minimum price that is acceptable to the Government or when there is sufficient market interest for the site, according to the press release.
- CNA/kk
- wong chee tat :)
CPF Building sold for S$550m to Ascendas Land company
CPF Building sold for S$550m to Ascendas Land company
The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.
POSTED: 26 Nov 2015 12:26 UPDATED: 26 Nov 2015 23:37
SINGAPORE: The landmark CPF Building at 79 Robinson Road has been sold for a higher-than-expected S$550 million, the CPF Board announced on Thursday (Nov 26).
The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.
Ascendas plans to redevelop CPF Building into an office building with supporting retail elements, said Mr Manohar Khiatani, President & Group CEO of Ascendas and Deputy Group CEO of Ascendas-Singbridge.
"With the CPF Building, Ascendas would be able to offer quality CBD office space to complement our business park offerings to our customers in Singapore,” he added.
BID PRICE HIGHER THAN EXPECTED
Analysts had expected the building to fetch about S$450 million.
The CPF Board said the bid from Southernwood Property met all tender criteria, "including the strength of their financial standing and purchase conditions such as the assignment of tenancies to the new owner".
The other two bids were S$538.28 million by Leapford, a company owned by Pacific Century Regional Developments, and S$280 million by OUE Reef Development.
The CPF Board will be moving to Novena Square Towers “to free up prime office space in the Central Business District for higher-value uses”. Its corporate operations relocated on Nov 23.
The CPF Service Centre will continue to operate at 79 Robinson Road until further notice.
- CNA/dl
- wong chee tat :)
The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.
POSTED: 26 Nov 2015 12:26 UPDATED: 26 Nov 2015 23:37
SINGAPORE: The landmark CPF Building at 79 Robinson Road has been sold for a higher-than-expected S$550 million, the CPF Board announced on Thursday (Nov 26).
The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.
Ascendas plans to redevelop CPF Building into an office building with supporting retail elements, said Mr Manohar Khiatani, President & Group CEO of Ascendas and Deputy Group CEO of Ascendas-Singbridge.
"With the CPF Building, Ascendas would be able to offer quality CBD office space to complement our business park offerings to our customers in Singapore,” he added.
BID PRICE HIGHER THAN EXPECTED
Analysts had expected the building to fetch about S$450 million.
The CPF Board said the bid from Southernwood Property met all tender criteria, "including the strength of their financial standing and purchase conditions such as the assignment of tenancies to the new owner".
The other two bids were S$538.28 million by Leapford, a company owned by Pacific Century Regional Developments, and S$280 million by OUE Reef Development.
The CPF Board will be moving to Novena Square Towers “to free up prime office space in the Central Business District for higher-value uses”. Its corporate operations relocated on Nov 23.
The CPF Service Centre will continue to operate at 79 Robinson Road until further notice.
- CNA/dl
- wong chee tat :)
Lower Property Tax in 2016
Lower Property Tax in 2016
- wong chee tat :)
30 Nov 2015
With Annual Values of HDB and private residential properties reduced in line with market rentals, 93% of residential property owners will pay lower property tax.
All HDB flat owners will pay lower or no property tax next year while 8 in 10 private residential property owners will pay lower property tax in 2016. In particular, all 1- and 2-room HDB flat owner-occupiers and 28,200 3-room HDB flat owner-occupiers will not have to pay any property tax when the revised annual values take effect from 1 Jan 2016.
The tax savings for HDB flats will range from 9% to 24%, compared to property tax paid in 2015. Of the private residential properties with reduced annual values, more than 80% will see tax savings of between 3% and 20%.
Lower Property Tax in 2016 for Owner-Occupied HDB Flats
| HDB Flat Type | 2016 Property Tax Payable | 2015 Property Tax Payable | Savings in 20161 |
|---|---|---|---|
| 3-Room Flat | $0 - $37.60 | $1.60 - $49.60 | $1.60-$12.00 (At least 24%) |
| 4-Room Flat | $71.20 - $119.20 | $85.60 - $133.60 | $14.40 (At least 11%) |
| 5-Room Flat | $104.80 - $152.80 | $121.60 - $169.60 | $16.80 (At least 10%) |
| Executive Flat2 | $116.80 - $164.80 | $133.60 - $181.60 | $16.80 (At least 9%) |
The Inland Revenue Authority of Singapore (IRAS) reviews the Annual Values (AVs) of properties annually to ensure that they reflect prevailing market rentals. Property tax is a tax on property ownership and it is payable on all properties regardless whether the property is rented out, owner-occupied, or left vacant. Property tax is computed on AVs, by multiplying the AV of the property with the relevant set of progressive property tax rates for residential properties. The concessionary ‘Owner-Occupier Residential Tax Rates’ is applied on owner-occupied residential properties while the ‘Residential Tax Rates’ is applied on non-owner-occupied properties (Refer to Annex 1).
Simplified e-Service to Check Property Tax Payable New!
Property owners can use a new e-Service - ‘e-Property Tax Balance’ – to check if there is any tax payable on their properties and whether the current payment mode is by GIRO. Property owners simply enter the property tax reference number or property address and the NRIC of any of the owners to find out the property tax payable.
Pay Your 2016 Property Tax by 31 Jan 2016
Property tax has to be paid by 31 Jan 2016. IRAS encourages property owners to join GIRO to enjoy up to 12 interest-free monthly instalments or opt for a one-time deduction. Taxpayers who have bank accounts with DBS/POSB, UOB or OCBC can apply for GIRO via Internet Banking and receive instant approval.
A 5% penalty will be imposed on property owners who fail to pay or have not arranged to pay their tax by 31 Jan 2016. Property owners facing financial difficulties are advised to contact IRAS at 1800-356 8300 before the due date to discuss a suitable payment plan.
For more information and answers to frequently asked questions, please visit www.iras.gov.sg> Property> Property Owners> 2016 Property Tax Bills.
1Tax Savings and Property Tax Payable are calculated based on owner-occupied HDB flats.
2This does not include Executive Condominiums.
Inland Revenue Authority of Singapore
- wong chee tat :)
Demand for Singapore Savings Bond falls sharply in 3rd issue
Demand for Singapore Savings Bond falls sharply in 3rd issue
POSTED: 26 Nov 2015 22:00
SINGAPORE: The third issue of the Singapore Savings Bond saw scant interest from investors, who applied for only a small fraction of the maximum available.
The Monetary Authority of Singapore (MAS) said on Thursday (Nov 26) that for the December issue, total application within individual allotment limits amounted to S$40.99 million, well below the maximum allotment of S$1.2 billion.
The application amount was down sharply from S$257 million for the previous month's issue and S$413 million for the first tranche.
Singapore Savings Bonds offer individuals a safe, long-term, flexible savings option that pays higher interest over time.
For the December issue, the bond will pay investors an average interest rate of 2.44 per cent if it is held for the full 10 years.
In the second tranche, investors could earn an average interest rate of 2.78 per cent over a 10-year tenure, while the first issue would pay an average interest rate of 2.63 per cent.
Investors can choose to redeem Singapore Savings Bonds monthly at face value, unlike in the case of conventional bonds whose market price can fluctuate.
- CNA/xq
- wong chee tat :)
POSTED: 26 Nov 2015 22:00
SINGAPORE: The third issue of the Singapore Savings Bond saw scant interest from investors, who applied for only a small fraction of the maximum available.
The Monetary Authority of Singapore (MAS) said on Thursday (Nov 26) that for the December issue, total application within individual allotment limits amounted to S$40.99 million, well below the maximum allotment of S$1.2 billion.
The application amount was down sharply from S$257 million for the previous month's issue and S$413 million for the first tranche.
Singapore Savings Bonds offer individuals a safe, long-term, flexible savings option that pays higher interest over time.
For the December issue, the bond will pay investors an average interest rate of 2.44 per cent if it is held for the full 10 years.
In the second tranche, investors could earn an average interest rate of 2.78 per cent over a 10-year tenure, while the first issue would pay an average interest rate of 2.63 per cent.
Investors can choose to redeem Singapore Savings Bonds monthly at face value, unlike in the case of conventional bonds whose market price can fluctuate.
- CNA/xq
- wong chee tat :)
Singapore bank lending shrank in October, credit card billings rose
Singapore bank lending shrank in October, credit card billings rose
Total loans and advances by banks amounted to S$601.7 billion in October, down from S$608.3 billion in September and S$613.5 billion in August.
POSTED: 30 Nov 2015 13:09
SINGAPORE: Bank lending in Singapore fell for the second straight month in October as loans to businesses declined, data from the Monetary Authority of Singapore (MAS) showed on Monday (Nov 30).
Total loans and advances by banks amounted to S$601.7 billion in October, down from S$608.3 billion in September and S$613.5 billion in August, in a sign that economic activity is slowing. Compared to a year ago, bank lending fell 0.4 per cent.
Loans to businesses fell 1.9 per cent month-on-month to S$360.2 billion in October, while consumer loans edged up 0.2 per cent to S$241.5 billion.
Meanwhile, credit card billings rose 5.6 per cent in October from a year ago to S$4.115 billion.
Banks wrote off S$28 million in bad debts, up from S$27.2 million in September and S$26.4 million a year ago.
The rate of increase in bad credit card debts – at 6.1 per cent year-on-year – was, however, much slower than the rise seen in recent months.
- CNA/cy
- wong chee tat :)
Total loans and advances by banks amounted to S$601.7 billion in October, down from S$608.3 billion in September and S$613.5 billion in August.
POSTED: 30 Nov 2015 13:09
SINGAPORE: Bank lending in Singapore fell for the second straight month in October as loans to businesses declined, data from the Monetary Authority of Singapore (MAS) showed on Monday (Nov 30).
Total loans and advances by banks amounted to S$601.7 billion in October, down from S$608.3 billion in September and S$613.5 billion in August, in a sign that economic activity is slowing. Compared to a year ago, bank lending fell 0.4 per cent.
Loans to businesses fell 1.9 per cent month-on-month to S$360.2 billion in October, while consumer loans edged up 0.2 per cent to S$241.5 billion.
Meanwhile, credit card billings rose 5.6 per cent in October from a year ago to S$4.115 billion.
Banks wrote off S$28 million in bad debts, up from S$27.2 million in September and S$26.4 million a year ago.
The rate of increase in bad credit card debts – at 6.1 per cent year-on-year – was, however, much slower than the rise seen in recent months.
- CNA/cy
- wong chee tat :)
Private schools face falling enrolment, tough market conditions
Private schools face falling enrolment, tough market conditions
Staying relevant to the job market is key to ensure private schools' survival, say operators.
By Faris Mokhtar
POSTED: 30 Nov 2015 19:55
SINGAPORE: The number of private schools in Singapore has fallen since 2011, and at least six more are set to close, according to statistics from the Council for Private Education.
To tackle falling enrolment and harsher market conditions, operators have said staying relevant to the job market is key.
In total, 14 schools have ceased operations as of November this year, and six more are in the process of shutting down. The number of private schools has also dwindled, from 338 in 2011 to 312 in 2014.
One of them is SAE Creative Media Institute, which offers diploma and degree courses such as digital film production and audio engineering. It will shut its doors by next October. The school, which has been operating for over two decades, cited rising costs and falling demand.
Private schools have said the landscape now is more competitive. Market forces, such as the strong Singapore dollar, could deter foreign students from studying at the schools, and this is coupled with growing competition from local public institutions.
The Council for Private Education, which regulates the sector, said the number of students at private schools have dipped by 8 per cent, from about 163,000 in 2013 to just under 150,000 last year. To tackle this, schools said their courses must stay relevant to the job market.
“What we have been hearing from the industries and employers is that they are short of talents,” said Dr Lee Kwok Cheong, president of the Singapore Association for Private Education (SAPE) and chief executive of SIM Global Education. “So, there is demand for well-trained people. We need to find the right programme and beyond the classroom training, we must be able to link up with the industry for internships and more industry-oriented real-life projects.”
Among the schools that are doing this is Kaplan Singapore, which has more than 25,000 students. It said it has engaged the various sectors to learn about the skills required in the job market, and to link up opportunities for its students.
Mr Leon Choong, president of Kaplan Singapore, explained: "There’s a huge shortage within law firms for qualified paralegals who are able to help them in the course of their work. So, what we do is offer a diploma in paralegal studies that provides people with the opportunities to function within the legal firm, and law firms are happy because this is an identified shortage that they’ve been training in house for years. And now we have a ready batch of students for them to take on as interns as well as qualified employees.”
For smaller schools, operators said it is better for them to focus on niche curricula.
First Media Design School has been in operation for close to a decade, and it currently has more than 100 students. The school, which provides degree and diploma courses in graphic and fashion design, is banking on its idea of "designpreneurship" to set itself apart. This means teaching students to navigate the business aspect of their profession, like how to pitch projects to clients.
“I used to think that education is a recession-proof business, but it’s not. It does dampen our spirits sometimes, especially the closure of smaller schools. I see this as the survival of the fittest,” said Mr Mark Phooi, founder and principal of First Media Design School. “I see only two types of schools will survive - the supermarket style where they produce or roll out a string of programmes and the niche ones like us.
“I think primarily, if we don’t have the particular credentials in certain areas of teaching, I think the market is savvy enough to pick that out,” he added. “So, to a certain extent I think people are looking at specialisations as being key to their own career development. It is important for small players like us and for the rest of them to have a certain niche.”
But operators have said diversity is still crucial.
Said Dr Lee: “If we only have one or two providers, we are going to be in trouble. So, it's really having different players, each is strong and good in his own way, and the students have sufficient information to make the right choice. I think that should be the future of the private education landscape.”
Dr Lee also said schools need to continue to invest in technology and other resources to deliver quality education.
- CNA/xq
- wong chee tat :)
Staying relevant to the job market is key to ensure private schools' survival, say operators.
By Faris Mokhtar
POSTED: 30 Nov 2015 19:55
SINGAPORE: The number of private schools in Singapore has fallen since 2011, and at least six more are set to close, according to statistics from the Council for Private Education.
To tackle falling enrolment and harsher market conditions, operators have said staying relevant to the job market is key.
In total, 14 schools have ceased operations as of November this year, and six more are in the process of shutting down. The number of private schools has also dwindled, from 338 in 2011 to 312 in 2014.
One of them is SAE Creative Media Institute, which offers diploma and degree courses such as digital film production and audio engineering. It will shut its doors by next October. The school, which has been operating for over two decades, cited rising costs and falling demand.
Private schools have said the landscape now is more competitive. Market forces, such as the strong Singapore dollar, could deter foreign students from studying at the schools, and this is coupled with growing competition from local public institutions.
The Council for Private Education, which regulates the sector, said the number of students at private schools have dipped by 8 per cent, from about 163,000 in 2013 to just under 150,000 last year. To tackle this, schools said their courses must stay relevant to the job market.
“What we have been hearing from the industries and employers is that they are short of talents,” said Dr Lee Kwok Cheong, president of the Singapore Association for Private Education (SAPE) and chief executive of SIM Global Education. “So, there is demand for well-trained people. We need to find the right programme and beyond the classroom training, we must be able to link up with the industry for internships and more industry-oriented real-life projects.”
Among the schools that are doing this is Kaplan Singapore, which has more than 25,000 students. It said it has engaged the various sectors to learn about the skills required in the job market, and to link up opportunities for its students.
Mr Leon Choong, president of Kaplan Singapore, explained: "There’s a huge shortage within law firms for qualified paralegals who are able to help them in the course of their work. So, what we do is offer a diploma in paralegal studies that provides people with the opportunities to function within the legal firm, and law firms are happy because this is an identified shortage that they’ve been training in house for years. And now we have a ready batch of students for them to take on as interns as well as qualified employees.”
For smaller schools, operators said it is better for them to focus on niche curricula.
First Media Design School has been in operation for close to a decade, and it currently has more than 100 students. The school, which provides degree and diploma courses in graphic and fashion design, is banking on its idea of "designpreneurship" to set itself apart. This means teaching students to navigate the business aspect of their profession, like how to pitch projects to clients.
“I used to think that education is a recession-proof business, but it’s not. It does dampen our spirits sometimes, especially the closure of smaller schools. I see this as the survival of the fittest,” said Mr Mark Phooi, founder and principal of First Media Design School. “I see only two types of schools will survive - the supermarket style where they produce or roll out a string of programmes and the niche ones like us.
“I think primarily, if we don’t have the particular credentials in certain areas of teaching, I think the market is savvy enough to pick that out,” he added. “So, to a certain extent I think people are looking at specialisations as being key to their own career development. It is important for small players like us and for the rest of them to have a certain niche.”
But operators have said diversity is still crucial.
Said Dr Lee: “If we only have one or two providers, we are going to be in trouble. So, it's really having different players, each is strong and good in his own way, and the students have sufficient information to make the right choice. I think that should be the future of the private education landscape.”
Dr Lee also said schools need to continue to invest in technology and other resources to deliver quality education.
- CNA/xq
- 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 :)
prajñāpāramita-hṛdayam sūtra
prajñāpāramita-hṛdayam sūtra
oṃ namo bhagavatyai ārya prajñāpāramitāyai!
ārya-avalokiteśvaro bodhisattvo gambhīrāṃ prajñāpāramitā caryāṃ caramāṇo vyavalokayati sma:
panca-skandhās tāṃś ca svābhava śūnyān paśyati sma.
iha śāriputra: rūpaṃ śūnyatā śūnyataiva rūpaṃ; rūpān na pṛthak śūnyatā śunyatāyā na pṛthag rūpaṃ; yad rūpaṃ sā śūnyatā; ya śūnyatā tad rūpaṃ. evam eva vedanā saṃjñā saṃskāra vijñānaṃ.
iha śāriputra: sarva-dharmāḥ śūnyatā-lakṣaṇā, anutpannā aniruddhā, amalā avimalā, anūnā aparipūrṇāḥ.
tasmāc chāriputra śūnyatayāṃ na rūpaṃ na vedanā na saṃjñā na saṃskārāḥ na vijñānam. na cakṣuḥ-śrotra-ghrāna-jihvā-kāya-manāṃsi. na rūpa-śabda-gandha-rasa-spraṣṭavaya-dharmāh. Na cakṣūr-dhātur. yāvan na manovijñāna-dhātuḥ. na-avidyā na-avidyā-kṣayo. yāvan na jarā-maraṇam na jarā-maraṇa-kṣayo. na duhkha-samudaya-nirodha-margā. Na jñānam, na prāptir na-aprāptiḥ.
tasmāc chāriputra aprāptitvād bodhisattvasya prajñāpāramitām āśritya viharatyacittāvaraṇaḥ. cittāvaraṇa-nāstitvād atrastro viparyāsa-atikrānto niṣṭhā-nirvāṇa-prāptaḥ.
tryadhva-vyavasthitāḥ sarva-buddhāḥ prajñāpāramitām āśrityā-anuttarāṃ samyaksambodhim abhisambuddhāḥ.
tasmāj jñātavyam: prajñāpāramitā mahā-mantro mahā-vidyā mantro 'nuttara-mantro samasama-mantraḥ, sarva duḥkha praśamanaḥ, satyam amithyatāt. prajñāpāramitāyām ukto mantraḥ.
tadyathā: gate gate pāragate pārasaṃgate bodhi svāhā.
iti prajñāpāramitā-hṛdayam samāptam.
- wong chee tat :)
oṃ namo bhagavatyai ārya prajñāpāramitāyai!
ārya-avalokiteśvaro bodhisattvo gambhīrāṃ prajñāpāramitā caryāṃ caramāṇo vyavalokayati sma:
panca-skandhās tāṃś ca svābhava śūnyān paśyati sma.
iha śāriputra: rūpaṃ śūnyatā śūnyataiva rūpaṃ; rūpān na pṛthak śūnyatā śunyatāyā na pṛthag rūpaṃ; yad rūpaṃ sā śūnyatā; ya śūnyatā tad rūpaṃ. evam eva vedanā saṃjñā saṃskāra vijñānaṃ.
iha śāriputra: sarva-dharmāḥ śūnyatā-lakṣaṇā, anutpannā aniruddhā, amalā avimalā, anūnā aparipūrṇāḥ.
tasmāc chāriputra śūnyatayāṃ na rūpaṃ na vedanā na saṃjñā na saṃskārāḥ na vijñānam. na cakṣuḥ-śrotra-ghrāna-jihvā-kāya-manāṃsi. na rūpa-śabda-gandha-rasa-spraṣṭavaya-dharmāh. Na cakṣūr-dhātur. yāvan na manovijñāna-dhātuḥ. na-avidyā na-avidyā-kṣayo. yāvan na jarā-maraṇam na jarā-maraṇa-kṣayo. na duhkha-samudaya-nirodha-margā. Na jñānam, na prāptir na-aprāptiḥ.
tasmāc chāriputra aprāptitvād bodhisattvasya prajñāpāramitām āśritya viharatyacittāvaraṇaḥ. cittāvaraṇa-nāstitvād atrastro viparyāsa-atikrānto niṣṭhā-nirvāṇa-prāptaḥ.
tryadhva-vyavasthitāḥ sarva-buddhāḥ prajñāpāramitām āśrityā-anuttarāṃ samyaksambodhim abhisambuddhāḥ.
tasmāj jñātavyam: prajñāpāramitā mahā-mantro mahā-vidyā mantro 'nuttara-mantro samasama-mantraḥ, sarva duḥkha praśamanaḥ, satyam amithyatāt. prajñāpāramitāyām ukto mantraḥ.
tadyathā: gate gate pāragate pārasaṃgate bodhi svāhā.
iti prajñāpāramitā-hṛdayam samāptam.
- wong chee tat :)
Sunday, November 29, 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 :)
prajñāpāramita-hṛdayam sūtra
prajñāpāramita-hṛdayam sūtra
oṃ namo bhagavatyai ārya prajñāpāramitāyai!
ārya-avalokiteśvaro bodhisattvo gambhīrāṃ prajñāpāramitā caryāṃ caramāṇo vyavalokayati sma:
panca-skandhās tāṃś ca svābhava śūnyān paśyati sma.
iha śāriputra: rūpaṃ śūnyatā śūnyataiva rūpaṃ; rūpān na pṛthak śūnyatā śunyatāyā na pṛthag rūpaṃ; yad rūpaṃ sā śūnyatā; ya śūnyatā tad rūpaṃ. evam eva vedanā saṃjñā saṃskāra vijñānaṃ.
iha śāriputra: sarva-dharmāḥ śūnyatā-lakṣaṇā, anutpannā aniruddhā, amalā avimalā, anūnā aparipūrṇāḥ.
tasmāc chāriputra śūnyatayāṃ na rūpaṃ na vedanā na saṃjñā na saṃskārāḥ na vijñānam. na cakṣuḥ-śrotra-ghrāna-jihvā-kāya-manāṃsi. na rūpa-śabda-gandha-rasa-spraṣṭavaya-dharmāh. Na cakṣūr-dhātur. yāvan na manovijñāna-dhātuḥ. na-avidyā na-avidyā-kṣayo. yāvan na jarā-maraṇam na jarā-maraṇa-kṣayo. na duhkha-samudaya-nirodha-margā. Na jñānam, na prāptir na-aprāptiḥ.
tasmāc chāriputra aprāptitvād bodhisattvasya prajñāpāramitām āśritya viharatyacittāvaraṇaḥ. cittāvaraṇa-nāstitvād atrastro viparyāsa-atikrānto niṣṭhā-nirvāṇa-prāptaḥ.
tryadhva-vyavasthitāḥ sarva-buddhāḥ prajñāpāramitām āśrityā-anuttarāṃ samyaksambodhim abhisambuddhāḥ.
tasmāj jñātavyam: prajñāpāramitā mahā-mantro mahā-vidyā mantro 'nuttara-mantro samasama-mantraḥ, sarva duḥkha praśamanaḥ, satyam amithyatāt. prajñāpāramitāyām ukto mantraḥ.
tadyathā: gate gate pāragate pārasaṃgate bodhi svāhā.
iti prajñāpāramitā-hṛdayam samāptam.
- wong chee tat :)
oṃ namo bhagavatyai ārya prajñāpāramitāyai!
ārya-avalokiteśvaro bodhisattvo gambhīrāṃ prajñāpāramitā caryāṃ caramāṇo vyavalokayati sma:
panca-skandhās tāṃś ca svābhava śūnyān paśyati sma.
iha śāriputra: rūpaṃ śūnyatā śūnyataiva rūpaṃ; rūpān na pṛthak śūnyatā śunyatāyā na pṛthag rūpaṃ; yad rūpaṃ sā śūnyatā; ya śūnyatā tad rūpaṃ. evam eva vedanā saṃjñā saṃskāra vijñānaṃ.
iha śāriputra: sarva-dharmāḥ śūnyatā-lakṣaṇā, anutpannā aniruddhā, amalā avimalā, anūnā aparipūrṇāḥ.
tasmāc chāriputra śūnyatayāṃ na rūpaṃ na vedanā na saṃjñā na saṃskārāḥ na vijñānam. na cakṣuḥ-śrotra-ghrāna-jihvā-kāya-manāṃsi. na rūpa-śabda-gandha-rasa-spraṣṭavaya-dharmāh. Na cakṣūr-dhātur. yāvan na manovijñāna-dhātuḥ. na-avidyā na-avidyā-kṣayo. yāvan na jarā-maraṇam na jarā-maraṇa-kṣayo. na duhkha-samudaya-nirodha-margā. Na jñānam, na prāptir na-aprāptiḥ.
tasmāc chāriputra aprāptitvād bodhisattvasya prajñāpāramitām āśritya viharatyacittāvaraṇaḥ. cittāvaraṇa-nāstitvād atrastro viparyāsa-atikrānto niṣṭhā-nirvāṇa-prāptaḥ.
tryadhva-vyavasthitāḥ sarva-buddhāḥ prajñāpāramitām āśrityā-anuttarāṃ samyaksambodhim abhisambuddhāḥ.
tasmāj jñātavyam: prajñāpāramitā mahā-mantro mahā-vidyā mantro 'nuttara-mantro samasama-mantraḥ, sarva duḥkha praśamanaḥ, satyam amithyatāt. prajñāpāramitāyām ukto mantraḥ.
tadyathā: gate gate pāragate pārasaṃgate bodhi svāhā.
iti prajñāpāramitā-hṛdayam samāptam.
- wong chee tat :)
Saturday, November 28, 2015
prajñāpāramita-hṛdayam sūtra
prajñāpāramita-hṛdayam sūtra
oṃ namo bhagavatyai ārya prajñāpāramitāyai!
ārya-avalokiteśvaro bodhisattvo gambhīrāṃ prajñāpāramitā caryāṃ caramāṇo vyavalokayati sma:
panca-skandhās tāṃś ca svābhava śūnyān paśyati sma.
iha śāriputra: rūpaṃ śūnyatā śūnyataiva rūpaṃ; rūpān na pṛthak śūnyatā śunyatāyā na pṛthag rūpaṃ; yad rūpaṃ sā śūnyatā; ya śūnyatā tad rūpaṃ. evam eva vedanā saṃjñā saṃskāra vijñānaṃ.
iha śāriputra: sarva-dharmāḥ śūnyatā-lakṣaṇā, anutpannā aniruddhā, amalā avimalā, anūnā aparipūrṇāḥ.
tasmāc chāriputra śūnyatayāṃ na rūpaṃ na vedanā na saṃjñā na saṃskārāḥ na vijñānam. na cakṣuḥ-śrotra-ghrāna-jihvā-kāya-manāṃsi. na rūpa-śabda-gandha-rasa-spraṣṭavaya-dharmāh. Na cakṣūr-dhātur. yāvan na manovijñāna-dhātuḥ. na-avidyā na-avidyā-kṣayo. yāvan na jarā-maraṇam na jarā-maraṇa-kṣayo. na duhkha-samudaya-nirodha-margā. Na jñānam, na prāptir na-aprāptiḥ.
tasmāc chāriputra aprāptitvād bodhisattvasya prajñāpāramitām āśritya viharatyacittāvaraṇaḥ. cittāvaraṇa-nāstitvād atrastro viparyāsa-atikrānto niṣṭhā-nirvāṇa-prāptaḥ.
tryadhva-vyavasthitāḥ sarva-buddhāḥ prajñāpāramitām āśrityā-anuttarāṃ samyaksambodhim abhisambuddhāḥ.
tasmāj jñātavyam: prajñāpāramitā mahā-mantro mahā-vidyā mantro 'nuttara-mantro samasama-mantraḥ, sarva duḥkha praśamanaḥ, satyam amithyatāt. prajñāpāramitāyām ukto mantraḥ.
tadyathā: gate gate pāragate pārasaṃgate bodhi svāhā.
iti prajñāpāramitā-hṛdayam samāptam.
- wong chee tat :)
oṃ namo bhagavatyai ārya prajñāpāramitāyai!
ārya-avalokiteśvaro bodhisattvo gambhīrāṃ prajñāpāramitā caryāṃ caramāṇo vyavalokayati sma:
panca-skandhās tāṃś ca svābhava śūnyān paśyati sma.
iha śāriputra: rūpaṃ śūnyatā śūnyataiva rūpaṃ; rūpān na pṛthak śūnyatā śunyatāyā na pṛthag rūpaṃ; yad rūpaṃ sā śūnyatā; ya śūnyatā tad rūpaṃ. evam eva vedanā saṃjñā saṃskāra vijñānaṃ.
iha śāriputra: sarva-dharmāḥ śūnyatā-lakṣaṇā, anutpannā aniruddhā, amalā avimalā, anūnā aparipūrṇāḥ.
tasmāc chāriputra śūnyatayāṃ na rūpaṃ na vedanā na saṃjñā na saṃskārāḥ na vijñānam. na cakṣuḥ-śrotra-ghrāna-jihvā-kāya-manāṃsi. na rūpa-śabda-gandha-rasa-spraṣṭavaya-dharmāh. Na cakṣūr-dhātur. yāvan na manovijñāna-dhātuḥ. na-avidyā na-avidyā-kṣayo. yāvan na jarā-maraṇam na jarā-maraṇa-kṣayo. na duhkha-samudaya-nirodha-margā. Na jñānam, na prāptir na-aprāptiḥ.
tasmāc chāriputra aprāptitvād bodhisattvasya prajñāpāramitām āśritya viharatyacittāvaraṇaḥ. cittāvaraṇa-nāstitvād atrastro viparyāsa-atikrānto niṣṭhā-nirvāṇa-prāptaḥ.
tryadhva-vyavasthitāḥ sarva-buddhāḥ prajñāpāramitām āśrityā-anuttarāṃ samyaksambodhim abhisambuddhāḥ.
tasmāj jñātavyam: prajñāpāramitā mahā-mantro mahā-vidyā mantro 'nuttara-mantro samasama-mantraḥ, sarva duḥkha praśamanaḥ, satyam amithyatāt. prajñāpāramitāyām ukto mantraḥ.
tadyathā: gate gate pāragate pārasaṃgate bodhi svāhā.
iti prajñāpāramitā-hṛdayam samāptam.
- 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 :)
Friday, November 27, 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 :)
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 :)
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 :)
Blog Updates:
Blog Updates:
Minor updates:
- Update labels on some posts
Will continue to make minor improvements for this blog!
- wong chee tat :)
Minor updates:
- Update labels on some posts
Will continue to make minor improvements for this blog!
- wong chee tat :)
Thursday, November 26, 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
|
27 November 2015
|
0300hrs to 0330hrs
|
System Maintenance
- Fast Funds Transfer to Other Bank (New/Existing Payee) - Adhoc Fast Funds Transfer to Other Bank - Fast Transaction History - View/Delete Post Dated Funds Transfer |
06 December 2015
|
0130hrs to 0530hrs
|
System Maintenance
- Fast Funds Transfer to Other Bank (New/Existing Payee) - Adhoc Fast Funds Transfer to Other Bank - Fast Transaction History - View/Delete Post Dated Funds Transfer |
mBanking | ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
27 November 2015
|
0300hrs to 0330hrs
|
System Maintenance
- Fast Funds Transfer to Other Bank (New/Existing Payee) - Adhoc Fast Funds Transfer to Other Bank - Fast Transaction History - View/Delete Post Dated Funds Transfer |
06 December 2015
|
0130hrs to 0530hrs
|
System Maintenance
- Fast Funds Transfer to Other Bank (New/Existing Payee) - Adhoc Fast Funds Transfer to Other Bank - Fast Transaction History - View/Delete Post Dated Funds Transfer |
Automated Teller Machine (ATM) | ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
23 November 2015
|
0000hrs to 0600hrs
|
Selected DBS/POSB ATM, and Cash Acceptance Machines (CAM) will be unavailable as our Self Service Banking Machines are scheduled for maintenance then. You may continue to use your DBS/POSB credit or Debit Card or DBS/POSB NETS and Ezlink cards for your purchases.
For access to cash you have the following POSB Cash-points |
Monday, November 23, 2015
Sunday, November 22, 2015
Commercial paper: more risk, less reward
Commercial paper: more risk, less reward
Bankrate.com
By Constance Gustke | Bankrate.com – Tue, Jul 5, 2011 6:00 PM SGT
Considering investing in commercial paper? Think again. It offers lower rates than money markets and requires more scrutiny.The tricky part is weighing benefits against risks for each issue, because commercial paper isn't insured by the Federal Deposit Insurance Corp.Commercial paper is short-term, unsecured debt issued by corporations. Firms use this money to finance operations, because rates are usually cheaper than those for their long-term debt. But don't expect higher yields to compensate for the added risk."These days, commercial paper has low rates," says Bob Williams, senior vice president of Delta Trust Investments in Little Rock, Ark. For example, UBS' 30-day commercial paper paid 0.06 percent in mid-June, which is lower than money markets.Little-known to investors, commercial paper is similar to zero-coupon bonds. Both are issued at a discount and accrete at the face value. Maturities on commercial paper are less than 270 days, capped by government restrictions. But the commercial paper market is big and growing, currently amounting to more than $1.162 trillion, according to the Federal Reserve. Issuers are usually highly rated companies, making the paper fairly liquid because there's less risk and more investor demand. Lower-rated commercial paper typically means more risk and less demand.
For future big purchases
On the upside, commercial paper is a good place to sock away large amounts of money for big, future purchases. Minimum investments usually amount to $100,000.But commercial paper is unsecured, and not backed by assets of any kind, says Eric Randolph, portfolio manager at Hopwood Financial Services Inc. in Great Falls, Va. Jittery investors may want the comfort of insured money markets instead.Here's a rundown of risks to consider:
It trades in large increments. Though it usually sells for $100,000 per issue, some brokers chop it up into smaller $10,000 increments. "This rules out lots of investors," Williams says. For investors with less cash, money markets that invest in commercial paper are a better bet.
Interest on commercial paper is taxable. Parking lots of money in commercial paper means you'll get hit with taxable interest. "If you're wealthy, there may be a better place to go," Williams says.
They're not FDIC-insured. Because commercial paper is issued by corporations and not financial institutions, you forgo any FDIC insurance. Instead, your investment is secured only by the company's income flow and not by assets.
"And if the flow is gone, so is your security," says Daniel Wesley, chief executive officer of CreditLoan.com and a commercial paper investor. "You're hedging your bets." However, defaults are rare, he says.
The Securities and Exchange Commission doesn't regulate the commercial paper market. So, Wesley advises investors to carefully select issues, looking at creditworthiness. Check commercial paper ratings at Moody's or Standard & Poor's, which assign credit ratings.
Diversification is more difficult. Because commercial paper denominations are so large, spreading out your risk among lots of issues is challenging. "Under $500,000, your investment risk is spread too thinly," Wesley says. "You're safer with over $1 million to invest."
Conversely, money market funds that invest in commercial paper offer much more diversification since you're spreading risk among many different issues. "Don't put all your eggs in one basket," Williams says.
Strong issues, lower interest
Recently, commercial paper paid a paltry 0.15 percent for 90-day paper issued by nonfinancial companies, according to the Federal Reserve. You can track rates at FederalReserve.gov. But money market funds paid a heftier 0.68 percent rate in late June, according to Bankrate's rate search tool."Going with lower-quality paper means you'll get higher rates," says Randolph. But you'll have to take more credit risks, he says.Fortunately, highly rated companies usually issue commercial paper. Lesser-rated companies have difficulty selling their paper to investors. A stronger commercial paper market was spurred by the Lehman Brothers default in 2008. It crushed the commercial paper market and caused two money market funds holding paper to break the buck, which happens when net asset value falls below $1 per share. After that, even rock-solid corporations such as Coca-Cola Co. fled the commercial paper market."Mostly, you see big-name issuers like IBM, Cisco and Johnson & Johnson these days," Randolph says.Still, money market funds holding commercial paper have downsides, too. "You don't know what's inside your money market," Randolph says. "With specific paper, you know what you're buying."
- wong chee tat :)
Bankrate.com
By Constance Gustke | Bankrate.com – Tue, Jul 5, 2011 6:00 PM SGT
Considering investing in commercial paper? Think again. It offers lower rates than money markets and requires more scrutiny.The tricky part is weighing benefits against risks for each issue, because commercial paper isn't insured by the Federal Deposit Insurance Corp.Commercial paper is short-term, unsecured debt issued by corporations. Firms use this money to finance operations, because rates are usually cheaper than those for their long-term debt. But don't expect higher yields to compensate for the added risk."These days, commercial paper has low rates," says Bob Williams, senior vice president of Delta Trust Investments in Little Rock, Ark. For example, UBS' 30-day commercial paper paid 0.06 percent in mid-June, which is lower than money markets.Little-known to investors, commercial paper is similar to zero-coupon bonds. Both are issued at a discount and accrete at the face value. Maturities on commercial paper are less than 270 days, capped by government restrictions. But the commercial paper market is big and growing, currently amounting to more than $1.162 trillion, according to the Federal Reserve. Issuers are usually highly rated companies, making the paper fairly liquid because there's less risk and more investor demand. Lower-rated commercial paper typically means more risk and less demand.
For future big purchases
On the upside, commercial paper is a good place to sock away large amounts of money for big, future purchases. Minimum investments usually amount to $100,000.But commercial paper is unsecured, and not backed by assets of any kind, says Eric Randolph, portfolio manager at Hopwood Financial Services Inc. in Great Falls, Va. Jittery investors may want the comfort of insured money markets instead.Here's a rundown of risks to consider:
It trades in large increments. Though it usually sells for $100,000 per issue, some brokers chop it up into smaller $10,000 increments. "This rules out lots of investors," Williams says. For investors with less cash, money markets that invest in commercial paper are a better bet.
Interest on commercial paper is taxable. Parking lots of money in commercial paper means you'll get hit with taxable interest. "If you're wealthy, there may be a better place to go," Williams says.
They're not FDIC-insured. Because commercial paper is issued by corporations and not financial institutions, you forgo any FDIC insurance. Instead, your investment is secured only by the company's income flow and not by assets.
"And if the flow is gone, so is your security," says Daniel Wesley, chief executive officer of CreditLoan.com and a commercial paper investor. "You're hedging your bets." However, defaults are rare, he says.
The Securities and Exchange Commission doesn't regulate the commercial paper market. So, Wesley advises investors to carefully select issues, looking at creditworthiness. Check commercial paper ratings at Moody's or Standard & Poor's, which assign credit ratings.
Diversification is more difficult. Because commercial paper denominations are so large, spreading out your risk among lots of issues is challenging. "Under $500,000, your investment risk is spread too thinly," Wesley says. "You're safer with over $1 million to invest."
Conversely, money market funds that invest in commercial paper offer much more diversification since you're spreading risk among many different issues. "Don't put all your eggs in one basket," Williams says.
Strong issues, lower interest
Recently, commercial paper paid a paltry 0.15 percent for 90-day paper issued by nonfinancial companies, according to the Federal Reserve. You can track rates at FederalReserve.gov. But money market funds paid a heftier 0.68 percent rate in late June, according to Bankrate's rate search tool."Going with lower-quality paper means you'll get higher rates," says Randolph. But you'll have to take more credit risks, he says.Fortunately, highly rated companies usually issue commercial paper. Lesser-rated companies have difficulty selling their paper to investors. A stronger commercial paper market was spurred by the Lehman Brothers default in 2008. It crushed the commercial paper market and caused two money market funds holding paper to break the buck, which happens when net asset value falls below $1 per share. After that, even rock-solid corporations such as Coca-Cola Co. fled the commercial paper market."Mostly, you see big-name issuers like IBM, Cisco and Johnson & Johnson these days," Randolph says.Still, money market funds holding commercial paper have downsides, too. "You don't know what's inside your money market," Randolph says. "With specific paper, you know what you're buying."
- 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 :)
MORE PEOPLE IN CREDIT CARD DEBT
MORE PEOPLE IN CREDIT CARD DEBT
ACCORDING TO THE CREDIT BUREAU SINGAPORE, THE TOTAL NUMBER OF DELINQUENT DEBTORS HIT MORE THAN 101,490 THIS YEAR
Nov 22, 2015 6:00am
BY SEOW YUN RONG
He had a good job that paid him $7,500 a month but the way he used his credit cards, you would think he earned a lot more.
The debts snowballed and before Mr Toh knew it, he owed $103,000 to the banks.
His story is typical of many who have been caught up in a credit card debt situation which has spiralled out of control.
In 2011, the total number of delinquent debtors was just over 73,000.
These are people who pay nothing or less than the minimum sum on their credit card debts.
According to the Credit Bureau Singapore, it has hit more than 101,493 this year.
It is the same story with revolving debtors who roll their credit card debts by covering at least the minimum sum.
More people are also turning to debt counsellors for help.
According to Credit Counselling Singapore (CCS), the biggest credit card debt this year is a whopping $1,552,000.
Mr Toh, too, had no choice but to pick up the phone when he realised he had lost all control.
As with everything, it started small.
The 39-year-old, who now works as a sales officer and part-time taxi driver, was a regional sales manager in 2005 and frequently travelled.
He carried several credit cards to cover his travelling expenses, which his employers reimbursed the following month.
Despite the reimbursement, he'd pay only the monthly minimum sum of $2,500 for his five credit cards for about three years.
He says: "I was earning quite a decent sum then, so I thought I could give my family a better life and pay back the following month."
But he lost track of how much he was spending and how much he could claim, he adds.
Besides paying his parents' medical bills of about $1,000 a month, he would also take his family of seven to restaurants and shopping malls twice a week. A night out typically cost $300.
QUIT JOB
It all went downhill after Mr Toh quit his job in 2012.
He then earned only about $3,500 as a part-time sales officer and taxi driver but the debts followed him.
He says: "At that time, I only thought of my family. I didn't have the motivation to pay more than the minimum sum for my debts."
He did not have enough left over to cover the $2,500 minimum payment each month.
Mr Toh took a bank loan of $10,000 to pay off his credit card debts, only to find out that it was not enough and that loan accumulated interest, too.
His credit card debt snowballed to $103,000 and his financial struggles contributed to his divorce in 2012.
Last year, he finally sought help from CCS.
He now follows the Debt Management Programme which will help him clear all his debt in the next three years.
He says he is thankful for the help from CCS. His sisters are also helping by paying for their parents' medical bills.
Mr Toh says: "Without the support from CCS and my family, I don't think I could ever finish paying my debt."
People who need help shouldn't wait, says Ms Tan Huey Min of CCS.
"People with a debt issue have to deal with it as soon as possible before it snowballs into a greater sum every month," she adds.
Debtors must be mindful of economy
Last month, Prime Minister Lee Hsien Loong warned that Singapore must brace itself for a possible downturn.
Ms Tan Huey Min of Credit Counselling Singapore (CCS) says debtors have to be mindful of the economy and how it will affect their income.
"Once they know that their income is affected, they have to take quick actions to solve the problem before it snowballs into a greater debt," she says.
She adds that while some people gamble their way into debt, the top reason for getting into credit card debt is overspending.
Here's how two individuals found themselves on the slippery slope of credit card debt.
SHOPPING
Mr Nor, 57, often used his credit cards when shopping in Malaysia and Indonesia.
Thinking that he was saving money because of the exchange rate, he used his credit cards to pay for almost everything.
He says: "It was so convenient to keep using my credit cards even in supermarkets."
Mr Nor was earning about $2,000 a month as an administrative officer and an extra $1,000 as a part-time driver.
In 2009, he lost his part-time job and had incurred a debt of about $60,000 from using four credit cards and from four bank loans.
Even though he paid the total minimum sum of $2,000 a month for four years, he still owed $60,000 in 2013 because of interest.
He says: "When the bank warned me about paying immediately, I was so afraid because if I didn't pay up, they said they would take me to court."
He has been on CCS' Debt Management Programme (DMP) for about two years now. In four years' time, he will be debt-free.
GAMBLING
By the time he hit rock bottom in 2012, regional product manager Lee, 44, had a debt of $550,000.
His problem was gambling. He said he would often take foreign visitors to the casinos here but eventually developed an interest in gaming himself.
He says: "The boredom I had after work eventually led to me gambling just for fun.
"As my bets got bigger and bigger, using the credit card became very convenient."
To pay off his credit card debts, he took up three bank loans but continued gambling while paying $1,000 to cover the minimum sum for the three cards he had.
He has been on the DMP for two years and has been paying his debt regularly since then.
Learn to manage your debt
A talk on debt management will be held today at Khoo Teck Puat Hospital.
Jointly organised by National Addictions Management Service, Khoo Teck Puat Hospital and North West Community Development Council, the talk is open to the public.
WHAT About National Addictions Awareness Day WHEN Today, 10am to 3pm WHERE Khoo Teck Puat Hospital
For more details, go to www.nams.sg/arc
BY THE NUMBERS
TOTAL NUMBER OF CREDIT CARD HOLDERS IN SINGAPORE
1,611,008
2015
1,388,828
2011
DEBTORS SEEKING HELP
3,308
2015
2,458
2014
1,838
2013
AVERAGE DEBT PER DEBTOR WHO SOUGHT HELP
$99,623.25
2015
$82,940.25
2013
DELINQUENT DEBTORS (PAYING NOTHING OR LESS THAN MINIMUM SUM)
101,493
2015
73,607
2011
REVOLVING DEBTORS (ROLLING DEBT BY COVERING ONLY MINIMUM SUM)
566,966
2015
510,687
2011
BIGGEST DEBT AMOUNT$1,552,000
2015
$1,281,042
2014
$1,707,657
2013
All figures are from Credit Bureau Singapore and Credit Counselling Singapore. Figures for this year are as of September.
Helplines
The Association of Banks in Singapore introduced the Repayment Assistance Scheme (RAS) this year to help borrowers reduce their credit card debt and other unsecured credit loans over time.
The RAS is administered by the Credit Counseling Singapore (CCS), which centralises repayment solutions.
To be eligible, your income must be less than $120,000 per annum and your outstanding unsecured debt must be greater than your annual income before June 1 this year.
RAS: 6996-6006
CCS: 6225-5227
National Addictions Management Service: 1800-6668-668
- wong chee tat :)
ACCORDING TO THE CREDIT BUREAU SINGAPORE, THE TOTAL NUMBER OF DELINQUENT DEBTORS HIT MORE THAN 101,490 THIS YEAR
Nov 22, 2015 6:00am
BY SEOW YUN RONG
He had a good job that paid him $7,500 a month but the way he used his credit cards, you would think he earned a lot more.
The debts snowballed and before Mr Toh knew it, he owed $103,000 to the banks.
His story is typical of many who have been caught up in a credit card debt situation which has spiralled out of control.
In 2011, the total number of delinquent debtors was just over 73,000.
These are people who pay nothing or less than the minimum sum on their credit card debts.
According to the Credit Bureau Singapore, it has hit more than 101,493 this year.
It is the same story with revolving debtors who roll their credit card debts by covering at least the minimum sum.
More people are also turning to debt counsellors for help.
According to Credit Counselling Singapore (CCS), the biggest credit card debt this year is a whopping $1,552,000.
Mr Toh, too, had no choice but to pick up the phone when he realised he had lost all control.
As with everything, it started small.
The 39-year-old, who now works as a sales officer and part-time taxi driver, was a regional sales manager in 2005 and frequently travelled.
He carried several credit cards to cover his travelling expenses, which his employers reimbursed the following month.
Despite the reimbursement, he'd pay only the monthly minimum sum of $2,500 for his five credit cards for about three years.
He says: "I was earning quite a decent sum then, so I thought I could give my family a better life and pay back the following month."
But he lost track of how much he was spending and how much he could claim, he adds.
Besides paying his parents' medical bills of about $1,000 a month, he would also take his family of seven to restaurants and shopping malls twice a week. A night out typically cost $300.
QUIT JOB
It all went downhill after Mr Toh quit his job in 2012.
He then earned only about $3,500 as a part-time sales officer and taxi driver but the debts followed him.
He says: "At that time, I only thought of my family. I didn't have the motivation to pay more than the minimum sum for my debts."
He did not have enough left over to cover the $2,500 minimum payment each month.
Mr Toh took a bank loan of $10,000 to pay off his credit card debts, only to find out that it was not enough and that loan accumulated interest, too.
His credit card debt snowballed to $103,000 and his financial struggles contributed to his divorce in 2012.
Last year, he finally sought help from CCS.
He now follows the Debt Management Programme which will help him clear all his debt in the next three years.
He says he is thankful for the help from CCS. His sisters are also helping by paying for their parents' medical bills.
Mr Toh says: "Without the support from CCS and my family, I don't think I could ever finish paying my debt."
People who need help shouldn't wait, says Ms Tan Huey Min of CCS.
"People with a debt issue have to deal with it as soon as possible before it snowballs into a greater sum every month," she adds.
Debtors must be mindful of economy
Last month, Prime Minister Lee Hsien Loong warned that Singapore must brace itself for a possible downturn.
Ms Tan Huey Min of Credit Counselling Singapore (CCS) says debtors have to be mindful of the economy and how it will affect their income.
"Once they know that their income is affected, they have to take quick actions to solve the problem before it snowballs into a greater debt," she says.
She adds that while some people gamble their way into debt, the top reason for getting into credit card debt is overspending.
Here's how two individuals found themselves on the slippery slope of credit card debt.
SHOPPING
Mr Nor, 57, often used his credit cards when shopping in Malaysia and Indonesia.
Thinking that he was saving money because of the exchange rate, he used his credit cards to pay for almost everything.
He says: "It was so convenient to keep using my credit cards even in supermarkets."
Mr Nor was earning about $2,000 a month as an administrative officer and an extra $1,000 as a part-time driver.
In 2009, he lost his part-time job and had incurred a debt of about $60,000 from using four credit cards and from four bank loans.
Even though he paid the total minimum sum of $2,000 a month for four years, he still owed $60,000 in 2013 because of interest.
He says: "When the bank warned me about paying immediately, I was so afraid because if I didn't pay up, they said they would take me to court."
He has been on CCS' Debt Management Programme (DMP) for about two years now. In four years' time, he will be debt-free.
GAMBLING
By the time he hit rock bottom in 2012, regional product manager Lee, 44, had a debt of $550,000.
His problem was gambling. He said he would often take foreign visitors to the casinos here but eventually developed an interest in gaming himself.
He says: "The boredom I had after work eventually led to me gambling just for fun.
"As my bets got bigger and bigger, using the credit card became very convenient."
To pay off his credit card debts, he took up three bank loans but continued gambling while paying $1,000 to cover the minimum sum for the three cards he had.
He has been on the DMP for two years and has been paying his debt regularly since then.
Learn to manage your debt
A talk on debt management will be held today at Khoo Teck Puat Hospital.
Jointly organised by National Addictions Management Service, Khoo Teck Puat Hospital and North West Community Development Council, the talk is open to the public.
WHAT About National Addictions Awareness Day WHEN Today, 10am to 3pm WHERE Khoo Teck Puat Hospital
For more details, go to www.nams.sg/arc
BY THE NUMBERS
TOTAL NUMBER OF CREDIT CARD HOLDERS IN SINGAPORE
1,611,008
2015
1,388,828
2011
DEBTORS SEEKING HELP
3,308
2015
2,458
2014
1,838
2013
AVERAGE DEBT PER DEBTOR WHO SOUGHT HELP
$99,623.25
2015
$82,940.25
2013
DELINQUENT DEBTORS (PAYING NOTHING OR LESS THAN MINIMUM SUM)
101,493
2015
73,607
2011
REVOLVING DEBTORS (ROLLING DEBT BY COVERING ONLY MINIMUM SUM)
566,966
2015
510,687
2011
BIGGEST DEBT AMOUNT$1,552,000
2015
$1,281,042
2014
$1,707,657
2013
All figures are from Credit Bureau Singapore and Credit Counselling Singapore. Figures for this year are as of September.
Helplines
The Association of Banks in Singapore introduced the Repayment Assistance Scheme (RAS) this year to help borrowers reduce their credit card debt and other unsecured credit loans over time.
The RAS is administered by the Credit Counseling Singapore (CCS), which centralises repayment solutions.
To be eligible, your income must be less than $120,000 per annum and your outstanding unsecured debt must be greater than your annual income before June 1 this year.
RAS: 6996-6006
CCS: 6225-5227
National Addictions Management Service: 1800-6668-668
- 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 :)
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 :)
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 :)
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 :)
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 :)
Blog Updates:
Blog Updates:
Minor updates:
- Update labels on some posts
Will continue to make minor improvements for this blog!
- wong chee tat :)
Minor updates:
- Update labels on some posts
Will continue to make minor improvements for this blog!
- 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 :)
Saturday, November 21, 2015
Blog Updates:
Blog Updates:
Minor updates:
- Changed from gray to light green.
Will continue to make minor improvements for this blog!
- wong chee tat :)
Minor updates:
- Changed from gray to light green.
Will continue to make minor improvements for this blog!
- wong chee tat :)
PSLE results to be released next Wednesday
PSLE results to be released next Wednesday
Students may obtain their result slips from their respective primary schools from 11am on Nov 25, says the Ministry of Education.
POSTED: 20 Nov 2015 11:26
SINGAPORE: Students who took the 2015 Primary School Leaving Examination (PSLE) will be able to obtain their results from next Wednesday (Nov 25), the Ministry of Education said on Friday.
These students may obtain their result slips from 11am on that day, and eligible students will receive option forms to select secondary schools upon collection, it said.
In every sealed Secondary 1 (S1) Option Form, there will be a unique S1 Personal Identification Number which can be used to submit the secondary school options online via the Secondary One Internet System (S1-IS). The S1-IS will be accessible from 11 am on Nov 25 to 3 pm on Dec 1 through MOE's S1 Posting website, according to the press release.
Alternatively, the option form can be submitted through the student’s primary school. Submission at the schools can be made during the following timeslots: From 11am to 3pm on Nov 25; and 9am to 3pm on Nov 26, 27, 30 and Dec 1, the ministry said.
It added that the release of the S1 Posting Results will be on Tuesday, Dec 22, and students can find out the results via the following channels:
Short Message Service (SMS) via a local mobile number (if provided by the applicant during the application process)
S1-IS at www.moe.gov.sg/education/admissions/secondary-one-posting
At the child’s primary school
Students are to report on Dec 23 at 8.30am to the secondary schools they are posted to, MOE said.
- CNA/kk
- wong chee tat :)
Students may obtain their result slips from their respective primary schools from 11am on Nov 25, says the Ministry of Education.
POSTED: 20 Nov 2015 11:26
SINGAPORE: Students who took the 2015 Primary School Leaving Examination (PSLE) will be able to obtain their results from next Wednesday (Nov 25), the Ministry of Education said on Friday.
These students may obtain their result slips from 11am on that day, and eligible students will receive option forms to select secondary schools upon collection, it said.
In every sealed Secondary 1 (S1) Option Form, there will be a unique S1 Personal Identification Number which can be used to submit the secondary school options online via the Secondary One Internet System (S1-IS). The S1-IS will be accessible from 11 am on Nov 25 to 3 pm on Dec 1 through MOE's S1 Posting website, according to the press release.
Alternatively, the option form can be submitted through the student’s primary school. Submission at the schools can be made during the following timeslots: From 11am to 3pm on Nov 25; and 9am to 3pm on Nov 26, 27, 30 and Dec 1, the ministry said.
It added that the release of the S1 Posting Results will be on Tuesday, Dec 22, and students can find out the results via the following channels:
Short Message Service (SMS) via a local mobile number (if provided by the applicant during the application process)
S1-IS at www.moe.gov.sg/education/admissions/secondary-one-posting
At the child’s primary school
Students are to report on Dec 23 at 8.30am to the secondary schools they are posted to, MOE said.
- CNA/kk
- wong chee tat :)
MAS launches Year of the Monkey coins and sets for 2016
The Year of the Monkey coins will be available in nine versions, including a 1 kg coin made of 999 fine silver, which is the largest silver coin in Singapore.
- POSTED: 20 Nov 2015 11:43
- UPDATED: 20 Nov 2015 11:54
SINGAPORE: Ahead of 2016, which is when the Year of the Monkey starts according to the Chinese zodiac calendar, the Monetary Authority of Singapore (MAS) announced on Friday (Nov 20) it would be releasing coins and coin sets at the start of next year.
The coins are part of the third Chinese Almanac coin series, and features a monkey with a "playful and curious" disposition while holding a peach which symbolises longevity, MAS said in its press release.
The Year of the Monkey coins will be available in nine versions, including a 1 kg coin made of 999 fine silver, which is the largest silver coin in Singapore. Selected premium sets will include an eight-sided floral-shaped ingot featuring a family of monkeys, it added.
Additionally, the agency will also issue the 2016 Chinese Almanac puzzle coin set, which will feature a centrepiece surrounded by the 12 coins each depicting the design of the animals in the series, it said.
The sale of the coins will be conducted by the Singapore Mint, and orders start on Friday and must reach the sales agent by Dec 15, MAS said.
- CNA/kk
- wong chee tat :)
NOVEMBER 2015 2nd Open Bidding Exercise
CATEGORY
|
QUOTA
|
BIDS RECEIVED
|
QP($)
|
PQP($)
| |
|---|---|---|---|---|---|
| A | CAR UP TO 1600CC & 97KW | 1662 | 2140 | 59,200 | 56,832 |
| B | CAR ABOVE 1600CC OR 97KW | 1029 | 1388 | 61,103 | 59,798 |
| C | GOODS VEHICLE & BUS | 247 | 389 | 45,890 | 44,831 |
| D | MOTORCYCLE | 329 | 436 | 6,502 | 6,265 |
| E | OPEN | 365 | 519 | 62,019 | - |
- wong chee tat :)
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