Usher in 2016 with Prayers & 108 “Bell Resonance”

From here

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System Status: File Server Maintenance

System Status: File Server Maintenance

The file servers progressive down for disk maintenance.


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Om Mani Padme Hum

Om Mani Padme Hum

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Om Mani Padme Hum

Om Mani Padme Hum

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Om Mani Padme Hum

Om Mani Padme Hum

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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 Dec 2015	0000hrs to 0800hrs	System Maintenance - Token registration service
10 Jan 2016	0000hrs to 0500hrs	System Maintenance - Token registration service

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"Lord, I Need You" - Matt Maher

"Lord, I Need You"

Lord, I come, I confess
Bowing here I find my rest
Without You I fall apart
You're the One that guides my heart

Lord, I need You, oh, I need You
Every hour I need You
My one defense, my righteousness
Oh God, how I need You

Where sin runs deep Your grace is more
Where grace is found is where You are
And where You are, Lord, I am free
Holiness is Christ in me

Lord, I need You, oh, I need You
Every hour I need You
My one defense, my righteousness
Oh God, how I need You

Teach my song to rise to You
When temptation comes my way
And when I cannot stand I'll fall on You
Jesus, You're my hope and stay

Lord, I need You, oh, I need You
Every hour I need You
My one defense, my righteousness
Oh God, how I need You

You're my one defense, my righteousness
Oh God, how I need You
My one defense, my righteousness
Oh God, how I need You


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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

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Wondrous Dharma Lotus Sutra - Universal Gates Chapter Of Bodhisattva Guan Shi Yin

Universal Gates Chapter

Of

Bodhisattva Guan Shi Yin

In

Wondrous Dharma Lotus Sutra

Translated into Chinese

By

Tripitaka Dharma Master Kumarajiva

Of

Yao Qin Dynasty

Translated from Chinese into English

By

Dr. Yutang Lin

Then Bodhisattva Inexhaustible Intent rose up from his seat, exposed his right shoulder as a gesture of respect, folded his palms, facing the Buddha and asked, "World Honored One, Bodhisattva Avalokitesvara is for what causal conditions to be named Guan Shi Yin, Observing Worldly Sounds?"

Buddha told Bodhisattva Inexhaustible Intent, "Good man, if there were innumerable hundreds of thousands of myriads of billions sentient beings who were experiencing all sorts of suffering and sorrows, and upon hearing about this Bodhisattva Guan Shi Yin they would single-mindedly repeat his name, then Bodhisattva Guan Shi Yin would instantaneously observe their sound and they would thereby attain emancipation.

If there were someone who maintained repetition of the name of this Bodhisattva Guan Shi Yin, and if this person entered a big fire, then by the forceful spiritual power of this Bodhisattva fire could not burn this person. If such a person were floated away by huge water, and called out the name of this Bodhisattva, then this person would reach shallows. Suppose that there were hundreds of thousands of myriads of billions sentient beings who entered great ocean in search of gold, silver, beryl, crystal, agate, coral, amber, pearl and other treasures. If black winds had blown their ships to the ghost land of raksasas, and there were even only one among them that called out the name of Bodhisattva Guan Shi Yin, then all those people would be free from the danger of raksasas. For such causal conditions he is named Observing Worldly Sounds.

Further, if there were someone who, on the brink of being harmed, called out the name of Bodhisattva Guan Shi Yin, then the knives and sticks held by others would break into pieces and thereby that person would be spared. If a great-thousand world system consisting of thousand-cube worlds were filled fully with yaksas and raksasas that intend to vex someone, then upon hearing that person’s calling the name of Bodhisattva Guan Shi Yin those horrible ghosts could not even gaze at the person with angry eyes not to mention to inflict harms. If someone, guilty or innocent, were physically confined by handcuffs and shackles, and this person called out the name of Bodhisattva Guan Shi Yin, then all such fetters would break down and the person become liberated.

If a great-thousand world system consisting of thousand-cube worlds were filled fully with vengeful thieves, and a master of merchants led a group of merchants carrying precious treasures on a dangerous road, then one among them called out to say, ‘Good men, don’t be afraid. You should all call out single-mindedly the name of Bodhisattva Guan Shi Yin. This Bodhisattva is capable of conferring the blessing of fearlessness upon sentient beings. If you call out the name, then you would be free from these vengeful thieves.’ The merchants, upon hearing this, all said aloud, ‘Namo Bodhisattva Guan Shi Yin.’ Due to this calling of his name they right away got liberated. Inexhaustible Intent, the forceful spiritual power of Great Bodhisattva Guan Shi Yin is as awe-inspiring as such.

If there were sentient beings who were much under the influence of sexual desires, by constantly repeating the name of Bodhisattva Guan Shi Yin with reverence they would become free from such desires. Were they full of anger, by constantly repeating the name of Bodhisattva Guan Shi Yin with reverence they would become free from anger. Were they full of ignorance, by constantly repeating the name of Bodhisattva Guan Shi Yin with reverence they would become free from ignorance. Inexhaustible Intent, Bodhisattva Guan Shi Yin possesses great forceful spiritual power of this sort that could benefit beings in many ways; therefore, sentient beings should often repeat his name in their minds.

If a woman desired a male offspring, by prostrating and making offerings to Bodhisattva Guan Shi Yin she would give birth to a male endowed with merits and wisdom. If she desired a female offspring, she would give birth to a female endowed with proper features and merits accumulated in past lives that would win admiration from people. Inexhaustible Intent, Bodhisattva Guan Shi Yin possesses such powers. If there were sentient beings who would reverently prostrate to Bodhisattva Guan Shi Yin, then the merits they thereby accrued would not be in vain. Therefore, sentient beings should all maintain repetition of the name of Bodhisattva Guan Shi Yin.

Inexhaustible Intent, if there were someone who maintained repetition of the names of Bodhisattvas as numerous as the sands of sixty-two billion Ganges rivers, and in addition had made offerings of drinks, foods, clothing, beddings, and medicines to them throughout this person’s lifetime, then what do you think, did such a good man or good woman have much merits?" Inexhaustible Intent said, "Very much, World Honored One." Buddha said, "If there were someone else who maintained repetition of the name of Bodhisattva Guan Shi Yin or just made prostration and offering once, then the merits of these two persons were exactly the same without differences, inexhaustible through hundreds thousands myriads billions kalpas. Inexhaustible Intent, maintaining repetition of the name of Bodhisattva Guan Shi Yin would receive similar benefit of countless and boundless merits."

Bodhisattva Inexhaustible Intent asked Buddha, "World Honored One, how does Bodhisattva Guan Shi Yin roam this Saha world? How does he convey Dharma to sentient beings? What are matters that demonstrate his power of skillful means?" Buddha told Bodhisattva Inexhaustible Intent, "Good man, if there were lands and sentient beings that should be saved through the body of a Buddha, then Bodhisattva Guan Shi Yin would appear as the body of a Buddha to preach Dharma to them. To those that should be saved through the body of a Pratyeka-Buddha he would appear as the body of a Pratyeka-Buddha to preach Dharma. To those that should be saved through the body of a Sravaka he would appear as the body of a Sravaka to preach Dharma.

To those that should be saved through the body of Mahabrahman he would appear as the body of Mahabrahman to preach Dharma. To those that should be saved through the body of Sakra-devanam-indra he would appear as the body of Sakra-devanam-indra to preach Dharma. To those that should be saved through the body of Isvara he would appear as the body of Isvara to preach Dharma. To those that should be saved through the body of Mahesvara he would appear as the body of Mahesvara to preach Dharma. To those that should be saved through the body of a heavenly great general he would appear as the body of a heavenly great general to preach Dharma. To those that should be saved through the body of Vaisravana he would appear as the body of Vaisravana to preach Dharma.

To those that should be saved through the body of a minor king he would appear as the body of a minor king to preach Dharma. To those that should be saved through the body of an elder he would appear as the body of an elder to preach Dharma. To those that should be saved through the body of a householder he would appear as the body of a householder to preach Dharma. To those that should be saved through the body of an official he would appear as the body of an official to preach Dharma. To those that should be saved through the body of a Brahman he would appear as the body of a Brahman to preach Dharma.

To those that should be saved through the body of a Bhiksu, Bhiksuni, Upasaka, or Upasika he would appear as the body of a Bhiksu, Bhiksuni, Upasaka, or Upasika to preach Dharma. To those that should be saved through the body of the wife of an elder, householder, official, or Brahman he would appear as the body of such a lady to preach Dharma. To those that should be saved through the body of a boy or girl he would appear as the body of a boy or girl to preach Dharma.

To those that should be saved through the body of a heavenly being, dragon, Yaksa, Gandharva, Asura, Garuda, Kimnara, Mahoraga, human, or non-human he would appear as all those to preach Dharma. To those that should be saved through the body of a Vajrapani he would appear as the body of a Vajrapani to preach Dharma.

Inexhaustible Intent, this Bodhisattva Guan Shi Yin had accomplished such merits, and used various forms to roam all kinds of lands in order to guide sentient beings toward liberation from suffering. Therefore, all of you should whole-heartedly make offerings to Bodhisattva Guan Shi Yin. This Bodhisattva Guan Shi Yin could give blessing of fearlessness in fearful and urgent dangers. Therefore, all in this Saha world call him the Provider of Fearlessness."

Bodhisattva Inexhaustible Intent said to Buddha, "World Honored One, now I should make offerings to Bodhisattva Guan Shi Yin." Then he untied the necklace around his neck that consisted of all kinds of jewel beads and was worth hundreds of thousands taels of gold, gave it to Bodhisattva Guan Shi Yin with the words, "Kind One, accept this offering of jeweled necklace for the sack of Dharma." Then Bodhisattva Guan Shi Yin would not accept it. Inexhaustible Intent said again to Bodhisattva Guan Shi Yin, "Kind One, out of sympathy for those of us please accept this necklace." Then Buddha told Bodhisattva Guan Shi Yin, "Should have sympathy for this Bodhisattva Inexhaustible Intent and the four groups, heavenly beings, dragons, Yaksas, Gandharvas, Asuras, Garudas, Kimnaras, Mahoragas, humans, non-humans, etc., therefore accept this necklace." Right then Bodhisattva Guan Shi Yin out of sympathy for all those among the four groups and the heavenly beings, dragons, humans, non-humans, etc., accepted his necklace. He divided it into two halves. One half offered to Buddha Sakyamuni; one half offered to the pagoda of Buddha Prabhutaratna.

"Inexhaustible Intent, Bodhisattva Guan Shi Yin possesses such freedom of miraculous power to roam the Saha world." Then Bodhisattva Inexhaustible Intent asked in gathas:

World Honored One with wondrous signs complete
Now I ask him once more
For what causal conditions the son of Buddha
Is named Guan Shi Yin

The honorable one with wondrous signs complete
Replies in gathas to Inexhaustible Intent
Listen you to the activities of Guan Yin
Responding well to all places in all directions

Great vows deep as oceans
Having passed kalpas inconceivable
Attended more than thousands of billions Buddhas
Developed great pure vows

For you I mention them in brevity
Hearing his name and seeing his form
Such mental glimpses would not be in vain
But could extinguish suffering in all realms

Suppose some harmful intention had arisen
And one is pushed into a huge pit of fire
The power of chanting Guan Shi Yin
Would transform the fire pit into a pond

Or if one were floating in a huge ocean
And experiencing dangers of dragons, fish and ghosts
The power of chanting Guan Shi Yin
Would prevent waves from sinking this person

Or if one were at the pinnacle of Mount Sumeru
But pushed off the peak by some human being
The power of chanting Guan Shi Yin
Would sustain one in sky like the sun

Or if one were chased by bad people
And fell off the Vajra Mountain
The power of chanting Guan Shi Yin
Would render impossible the loss of a hair

Or if one were surrounded by vengeful foes
Each holding a knife to inflict harm
The power of chanting Guan Shi Yin
Would immediately raise mercy in their minds

Or if one were suffering from judicial hardship
At the brink of ending one’s life by execution
The power of chanting Guan Shi Yin
Would break the executioner’s knife into pieces

Or if one were imprisoned and shackled
With hands cuffed and feet chained
The power of chanting Guan Shi Yin
Would release one from such bondage

Curses and all sorts of poisons
Which were intended to harm one’s body
The power of chanting Guan Shi Yin
Would send them back to the originator

Or if one encountered evil Raksasas
Malevolent dragons, ghosts and the like
The power of chanting Guan Shi Yin
Would right away stop them from doing harm

Or if one were surrounded by fierce animals
With sharp teeth and claws that are scary
The power of chanting Guan Shi Yin
Would drive them hurriedly away in all directions

Venomous snakes and scorpions
Poisonous miasma, smoke and burning fire
The power of chanting Guan Shi Yin
Would turn them back automatically

Clouds, drumming thunders and striking lightning
Falling hails and pouring heavy rains
The power of chanting Guan Shi Yin
Would right away disperse all of them

Sentient beings are cornered into difficult situations
Countless sufferings are pressing on them
The power of wondrous wisdom of Guan Yin
Could relieve all sufferings in the world

Complete with all sorts of supernatural powers
Applying extensively skillful means of wisdom
In all lands in the ten directions there is
No place where Guan Yin does not appear

All sorts of evil realms such as
Hells, ghosts and animals
Suffering of birth, senility, illness and death
Gradually would all be rendered extinct

View of Truth, view of purity
View of extensive wisdom
View of compassion and view of mercy
Constantly longed for, constantly looked up to

Light of purity that is blemish free
Sun of wisdom destroying all darkness
Capable of pacifying calamities of wind or fire
Universal clarity illuminating the world

Embodiment of compassion with thundering precepts
Merciful intentions form wondrous huge clouds
Pouring nectar rains of Dharma
To extinguish flames of sorrows

In courts due to legal battles or
In battle formation that are horrible
The power of chanting Guan Shi Yin
Would cause all enemies to retreat and disperse

Wondrous sounds, observing worldly sounds
Pure sounds, ocean tidal sounds
Superior to worldly sounds
Therefore one should constantly recall it

Thought after thought, let no doubt arise
Pure Holiness Guan Shi Yin
In suffering, sorrows, dying and dangers
Capable of serving as a refuge

Complete with all kinds of merits
Watching sentient beings with merciful eyes
Happiness accumulated as a boundless ocean
Therefore all should make prostration to him

Then Bodhisattva Earth Holding stood up from his seat, walked up to Buddha and said, "World Honored One, if there were sentient beings who heard about the liberated activities of Bodhisattva Guan Shi Yin as mentioned in this chapter and his supernatural power to appear through universal gates, then it should be understood that such people had had not few merits." While Buddha was saying this Universal Gates Chapter eighty-four thousand sentient beings among the assembly all initiated the nonequal-rank unsurpassable right Bodhi mind.

Translation completed on October 29, 2001
El Cerrito, California



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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

Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas

Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas

- wong chee tat :)

Bank jobs in Singapore under pressure

Bank jobs in Singapore under pressure
Banks are seeing their margins squeezed by a weak macroeconomy and some like Barclays and Standard Chartered have initiated job cuts globally. Singapore, being a key financial centre in Asia, is not immune to these layoffs.

By Linette Lim
Posted 28 Dec 2015 17:41 Updated 28 Dec 2015 23:28

SINGAPORE: The financial sector is a key source of jobs in Singapore, employing more than 200,000 people as of September, according to data from the Ministry of Manpower (MOM). It also contributes to more than 12 per cent of the gross domestic product (GDP).

While latest MOM statistics have showed that there is still overall job growth in the sector - with 2,600 jobs added in the third quarter - some areas, from support functions to equities-related and investment banking roles, have come under pressure.

Global banks are seeing their margins squeezed by a weak macroeconomy and higher costs arising from tighter regulatory oversight. Additionally, across the sector worldwide, nearly 100,000 banking jobs were estimated to have been cut in 2015, according to an estimate by the Financial Times.

Major banks like Standard Chartered, Barclays, and Deutsche Bank have initiated job cuts globally and as Singapore is a key financial centre in Asia, it is not immune from these layoffs.

"We have seen a lot of offshoring happening, not just this year, but in 2014 as well," said Robert Walters Southeast Asia's managing director, Mr Toby Fowlston. "We've seen areas like product control downsize in a number of banking businesses, and also some of the back-office functions as well, where we've seen that shipped to cheaper cost locations."

But the concern is more than just over jobs being moved to lower-cost jurisdictions. Trading and deal-making is drying up amid a more uncertain macro environment and this is threatening equities-related and investment banking jobs. At the same time, new business models are disrupting traditional banking - a point underscored by Prime Minister Lee Hsien Loong in a speech last month.

"Digitisation, fintech - those are challenges to the traditional bank model," said Mr Ho Kok Yong, Financial Services Industry leader at Deloitte Singapore. "I think with digitisation, online banking, there's even greater reason for banks to actually cut headcount. So I would say that in the next one or two years, we will see a lot of this happening.

On the other hand, there are areas that will be in need of headcount, with vacancies exceeding the number of applicants.

Said Adecco Singapore's country manager Femke Hellemons: "The increasing emphasis on corporate governance, risk management, also drives the demand for compliance, risk management, and operations professionals. At the same time, we see a strong demand for IT finance engineers, and also relationship managers, as banks are looking to market customised solutions for their corporate clients."

As banks reorganise their business to cope with a changing business environment, recruitment consultancies have said they see hiring managers in banks here adopt a wait-and-see approach. According to Robert Walters, this has given rise to a greater use of contracting, with staff coming in on six- to 12-month fixed term contracts.

- CNA/hs

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How financial technology will impact Singapore in 2016

How financial technology will impact Singapore in 2016

Financial technology is seeing explosive growth. The Monetary Authority of Singapore wants to cultivate this growth as part of its Smart Financial Centre initiative. Channel NewsAsia looks at what this means for the financial industry in 2016.

By Patrick John Lim
Posted 28 Dec 2015 22:43 Updated 28 Dec 2015 23:25

SINGAPORE: Financial technology, which is also known as fintech, is seeing explosive growth.

New technologies in payment, data management and security have sprung up over the past year, and a few local banks have set up Innovation Centres to keep abreast with developments.

The Monetary Authority of Singapore (MAS) wants to cultivate this growth as part of its Smart Financial Centre initiative. Channel NewsAsia looks at what this means for the financial industry in the coming year.

BECOMING A SMART FINANCIAL CENTRE

As Singapore pushes on to be a Smart Nation, it is important that industries keep ahead of the curve. This is especially true for the finance industry, where new technologies are challenging the way business is being done.

Embracing new technology is also important for Singapore to maintain its status as a regional financial hub, and MAS recognises that Singapore needs to be a Smart Financial Centre.

Said Mr Thomas Zink, a research manager at IDC Financial Insights: "It will strengthen its position, it will create new jobs and it will grow their expertise in the market. For start-ups, it also makes a lot of sense because of the ease of doing business in Singapore as well as the access to a lot of financial institutions that are headquartered here as well as Singapore's geographic location at the heart of ASEAN.

"Lastly for financial institutions, it will make sense to have access to new ideas, new businesses, new concepts that will help them to transform their business in light of the digital change we're going through."

Much of the fintech developments in 2015 have centred around improving services, from mobile banking to payments. MAS hopes to take this one step further by laying the groundwork for banks and financial institutions to leverage information to serve consumers better.

This includes developing a set of common standards to allow different applications to operate together seamlessly, paving the way for data-sharing between organisations.

SECURITY, CYBER SECURITY NEED TO MOVE FORWARD TOO

As new technologies continue to surface, an expert said it is critical for security and cyber security to move in tandem with new innovation.

Said Gartner’s principal research analyst, Anmol Singh: "We will see more comprehensive risk management for the digitalisation that we are seeing in the banking industry. We are definitely going to see more of fraud detection and identity proofing technologies ... Security approaches are going to innovate and provide you with better solutions.”

Going forward, the central bank is placing the onus on banks to drive innovation. It said financial institutions are free to experiment with new ideas without seeking regulatory endorsement, as time to market can be critical.

"MAS will most likely follow through with the approach that (MAS managing director) Ravi Menon pointed out - that we are very supportive of banks partnering with fintech but it's ultimately the responsibility of banks to make sure that everything is in order, they are compliant, they assess the risk properly that comes from such a solution,” said Mr Zink.

“They also said they are open to provide guidance where necessary, but what they don't want to get into is give some form of approval to a specific vendor for a specific solution. That might incentivise banks to neglect their due diligence to some degree, and that's a very smart approach from MAS,” he added.

MAS has formed a new arm, the Fintech & Innovation Group, aimed at creating a conducive ecosystem for innovation.

The central bank has also committed S$225 million over the next five years under its Financial Sector Technology and Innovation Scheme, to support this innovation ecosystem.

- CNA/dl

- wong chee tat :)

Singapore IPO market languishes as Hong Kong surges

Singapore IPO market languishes as Hong Kong surges

TODAY reports: As the Singapore Exchange languishes with only one IPO listed on the mainboard this year, Hong Kong has been on a tear as it reclaims its position as the world’s top IPO market.

By Angela Teng, TODAY
Posted 29 Dec 2015 09:06

SINGAPORE: The number of initial public offerings (IPO) on the Singapore Exchange (SGX) plunged 57 per cent this year from last year, with analysts attributing the lacklustre performance to a weak market outlook and competition from a much stronger Hong Kong.

Only 13 IPOs were listed on the SGX this year — just one on the mainboard and the other 12 on Catalist, raising a total of about S$630 million. This compared to the 30 IPOs last year, of which 12 were on the mainboard and 18 on the junior board, raising about S$3.5 billion altogether.

BHG Retail Real Estate Investment Trust (REIT) raised S$394.2 million when it listed on the mainboard this month, making it the biggest IPO in Singapore for the year. The units closed unchanged at S$0.80 on its debut day after the underwriter emerged to support the market. At the close on Monday (Dec 28), BHG Retail REIT units remained at S$0.80. Most of the Catalist-listed IPOs, which had offer prices ranging from S$0.20 to S$0.46, gave investors little cheer this year.

Mr Ernest Lim, a remisier at CIMB Securities, said: “Performance of the new listings had more than half registering negative returns, with five of them registering almost 40 per cent drops since their debut. While two of them registered flat returns and two of them, namely Jumbo and Singapore O&G, soared 48 per cent and 198 per cent, respectively … the overall performance is not exactly fantastic.”

“Most clients traded less this year as they are cautious on the overall market environment, slowing China economy, weak Singapore economy and generally lacklustre corporate results,” he added.

As the SGX languishes, Hong Kong has been on a tear as it reclaims its position as the world’s top IPO market. In the first 11 months of the year, 71 companies listed in the city, raising a total of US$31.2 billion (S$43.9 billion), accounting for almost 16 per cent market share of IPO funds worldwide, the South China Morning Post reported.

IG market strategist Bernard Aw said: “Firstly, the red-hot Hong Kong IPO market may have drawn companies away from listing in Singapore … Hong Kong benefited from its proximity to mainland China, compared to Singapore. We can see this advantage quite clearly from the growing number of mainland firms listing in Hong Kong.”

“Secondly, the higher financial bar for a mainboard listing in Singapore (minimum market value of S$150 million or pre-tax profit of at least S$30 million) may have continued to disqualify medium-sized companies, which earned about S$20 million.”

The poor IPO market came amid a turbulent year for the SGX. In June, the bourse had to pony up an estimated S$20 million to address gaps in its service recovery capabilities after it was reprimanded by the Monetary Authority of Singapore over two trading outages last year, one of which brought trading to a halt for hours and hurt Singapore’s reputation as a financial centre.

In July, veteran banker Loh Boon Chye took over from Mr Magnus Bocker as chief executive to spearhead a revival in the fortunes of SGX. In September, local shares plunged in line with other Asian markets following a slew of weak Chinese economic data, with the Straits Times Index falling past the key 2,800 mark. On Monday, the benchmark ended at 2,875.32 in thin year-end trade.

The SGX toughened up its rules on corporate governance in October and this month launched a listing compliance bulletin as part of moves to increase transparency on disciplinary actions.

“At the moment, the initiatives are not directly geared towards attracting new public listings. The new changes at SGX are certainly welcoming, and should provide a fresh start for Singapore’s stock market, but it remains to be seen how they can attract more IPOs,” said Mr Aw.

Read the original TODAY report here.

-TODAY/ek

-wong chee tat :)

Singapore Savings Bond sees higher demand in fourth issue

Singapore Savings Bond sees higher demand in fourth issue

For 2016, Monetary Authority of Singapore will offer up to S$4 billion worth of Savings Bonds, with a new issue every month.

By Linette Lim
Posted 29 Dec 2015 17:16 Updated 29 Dec 2015 19:13

SINGAPORE: A total of S$43.96 million worth of applications were accepted for the fourth tranche of the Singapore Savings Bond, up from S$40.99 million in the previous tranche, said the Monetary Authority of Singapore (MAS) on Tuesday (Dec 29).

The bonds, which will be issued on Jan 4, will pay a coupon of 1.21 per cent in the first year, stepping up every year so that those who hold the bond for the maximum 10-year tenure can earn an average interest of 2.58 per cent per annum.

The Monetary Authority of Singapore (MAS) had set a maximum allotment of S$300 million for the bond to be issued in January.

The Singapore Savings Bonds programme was announced in March by Senior Minister of State Josephine Teo, with the aim of "providing individual investors with a long-term savings option that offers safe returns".

For 2016, MAS will offer up to S$4 billion worth of Savings Bonds, with a new issue every month. Only individuals can apply for the bonds, which are fully backed by the Government. People can invest the minimum sum of S$500 and in subsequent multiples of S$500, up to a maximum of S$50,000 in any single issue, and up to $100,000 in total.

The funds can be redeemed early on a monthly basis without penalty.

- CNA/xk

- wong chee tat :)

Loans growth expected to decrease further next year: Banking analysts

Loans growth expected to decrease further next year: Banking analysts

Banks are also expected to further step up efforts next year to stay ahead in the digital revolution, with cybercrime coming in many different guises.

By Nicole Tan
Posted 29 Dec 2015 19:55

SINGAPORE: With a cloudy economic outlook for next year, Singapore banks are likely to see a squeeze on their earnings. According to banking analysts, loans growth is expected to decrease even further as a result, and credit risk may go up.

Meanwhile, banks are expected to further step up efforts next year to stay ahead in the digital revolution, with cybercrime coming in different guises, from personal data theft to pilfering funds.

Banks in Singapore have also cited criminality as the top concern they currently face, in a recent industry survey by PricewaterhouseCoopers (PwC). Amid a fast-evolving digital landscape, observers said the biggest challenges facing banks in Singapore are technology-related.

PwC Singapore Assurance & Financial Services partner, Karen Loon, said: "The top risk was around criminality which relates to risk of cyber (technology), also money laundering and tax. So that's interesting because while there's been a lot of concern globally, the banks are doing quite a lot to try to improve the environment around cyber (technology) together with regulators.

“The second area is around technology risk. Technology risk is really around the concern around the core banking systems not being able to cope."

While banks upgrade internal infrastructure to cope with changes in technology, analysts said the external environment also presents increasingly significant challenges to growing the topline.

LOAN GROWTH EXPECTED TO SLOW

For the whole of 2015, analysts expect growth in the overall loan books for Singapore banks to come in at about 5 per cent. However, they warned that this could slow down even further in 2016.

Standard & Poor's Financial Services Ratings Director, Ivan Tan, said: "Interest income of Singapore banks is the bulk of profitability or revenue source, which means the net profit will also face some headwinds.

“Between 2013 and 2015, while domestic growth has slowed down, overseas growth was able to compensate for slowness in domestic growth. But now, with China-led regional slowdown, even the overseas loan expansion has come down as well. So on the whole, we'll be seeing slower loans growth of between 3 and 5 per cent for 2016."

Slowdown in the region is also expected to put pressure on asset quality. According to the Monetary Authority of Singapore's Financial Stability report in November, non-performing loans made up about 1.5 per cent of Singapore banks' overall loan books in the third quarter of 2015, up from 1.1 per cent a year ago.

The fallout in commodities prices and slowdown in regional economies were cited as the main macroeconomic concerns.

UBS Wealth Management Chief Investment Officer for Southern APAC, Kelvin Tay, said: "Banks exposed to commodity sector, in particular oil and gas, and banks exposed to ASEAN itself, will probably be more vulnerable to banks not exposed to these areas.

“We think ASEAN is probably going through a structural and cyclical slowdown that will last for at least the next three years."

Another credit risk, analysts said, is the anticipated rise in interest rates as the US Federal Reserve normalises monetary policy. Still, higher interest rates are seen as a double-edged sword, with higher interest margins helping to support interest income.

"Net-net, the increase in interest margins on the loan was still more than able to offset the incremental credit cost they have, so banks are better off in that sense," said Mr Tan. "But overall if you take into account slower loans growth, and higher credit cost they have to set aside, the profit upside is not that much."

Despite a challenging external environment, observers said Singapore lenders remain resilient, with strong capital and liquidity buffers to withstand shocks. Still, analysts have said 2016 is likely to be a cautious year, as the banks adopt a more defensive stance and focus on maintaining loan quality and keeping costs low.

- CNA/xk

- 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

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 :)

Dec 2015 Singapore Savings Bonds - GX16010N

Announcement Date	Closing Date of Application	Allotment Date	Issuance Date	Issue Code/ISIN Code	CDP Naming Convention	Maturity Date
Tue, 1 Dec 2015	Mon, 28 Dec 2015	Tue, 29 Dec 2016	Mon, 4 Jan 2016	GX16010N/ SG6YI4000004	SBJAN16 GX16010N	1 Jan 2026

- 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

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 :)

Om Mani Padme Hum

Om Mani Padme Hum

- wong chee tat :)

Om Mani Padme Hum

Om Mani Padme Hum

- wong chee tat :)

Om Mani Padme Hum

Om Mani Padme Hum

- wong chee tat :)

Matt Maher - Lord, I Need You

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Merry Xmas 2015

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S$ Deposits - Fixed Deposits (Cash) - POSB

Effective Date: 24/12/2015

Period	$1,000- $9,999	$10,000- $19,999	$20,000- $49,999	$50,000- $99,999	$100,000- $249,999	$250,000- $499,999	$500,000- $999,999
1 mth	0.0500	0.0500	0.0500	0.0500	0.0500	0.0500	0.0500
2 mth	0.0500	0.0500	0.0500	0.0500	0.0500	0.0500	0.0500
3 mth	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500
4 mth	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500
5 mth	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500
6 mth	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000
7 mth	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000
8 mth	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000
9 mth	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500
10 mth	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500
11 mth	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500
12 mth	0.3500	0.3500	0.3500	0.3500	0.3500	0.3500	0.3500
18 mth	0.6000	0.6000	0.6000	0.6000	0.6000	0.6000	0.6000
24 mth	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000

Prices are indicative only.

Rates quoted are in % p.a. and are subject to change without prior notice.
Rates information is also available toll free on 1800-111 1111.

Note: Previously 12mth fixed deposit rate was 0.25%pa. And it is 0.35%pa

- wong chee tat :)