Revision of the Home Loan Board Rate – Singapore Residential Financing Rate (SRFR) - Maybank

Revision of the Home Loan Board Rate – Singapore Residential Financing Rate (SRFR)

Please be informed that the SRFR will be revised from 3.75% p.a. to 4.00% p.a. with effect from 18 February 2016. Since the introduction of the Singapore Residential Financing Rate (SRFR) in 2007, this is the first time a revision will be made. The revision is undertaken after much consideration and in view of the prevailing market conditions. Your loan interest rate and monthly instalment will be affected by this SRFR revision if your  loan interest rate is pegged: at SRFR OR below the SRFR (for example, SRFR less 1.10% per annum) OR above the SRFR (for example, SRFR plus 0.50% per annum) How much will your monthly instalment be revised? Your monthly instalment will increase as a result of this SRFR revision. The increase in monthly instalment amount is estimated at S$12 for every S$100,000 loan. However, your monthly instalment will not be revised immediately, we will write to you in March 2016 to inform you of your revised monthly instalment which will commence from April 2016. Using CPF funds to service your monthly instalment? For private property If you are using your CPF funds (partially or fully) to service your monthly instalment, you may submit your application for revision : with your SingPass online via CPF Board website. using the CPF form 4B : “Application to Use CPF savings to Repay Housing Loan for Private Property (PPS Form 4B)”, which can be located on CPF Board website. You may wish to note the processing period required by CPF Board for effecting such revisions, as any shortfall in the amount received by the bank through CPF Board will be debited from your designated Maybank loan servicing deposit account. For HDB property If you have previously submitted the “Letter of Authorisation” to the bank, any revision to your monthly instalment will be automatically updated with the CPF Board hence no further action is required on your part. If you have not submitted the “Letter of Authorisation” previously and you are using your CPF funds (partially or fully) to service your monthly instalment, you may submit your application for revision : with your SingPass online via CPF Board website. using the CPF form HBL/4 : “Application to Use CPF savings for Partial/Full Repayment of Housing Loan or Revision/Cessation of Monthly CPF Deduction of HDB Flat Financed with Bank Loan”, which can be located on CPF Board website. You may wish to note the processing period required by CPF Board for effecting such revisions, as any shortfall in the amount received by the bank through CPF Board will be debited from your designated Maybank loan servicing deposit account. To find out if you have previously submitted the “Letter of Authorisation”, you can call us at 1800 629 2265 (1800 MAYBANK).

- womg chee tat :)

Closure of Maybank@RobinsonRd, due to branch relocation

Closure of Maybank@RobinsonRd, due to branch relocation
(Effective: 10 July 2015, end of business day)

As Maybank@RobinsonRd will be relocating to Punggol, the Branch will cease operation at the present premises.

The Branch will be relocating to Waterway Point, a new shopping mall expected to be launched in Punggol Central this year. The opening of Maybank@WaterwayPoint will be announced at a closer date through our website and statement messages.

For your banking needs, please locate any of our 22 Branches here or log in to Maybank Online Banking (www.maybank2u.com.sg).

We apologise for any inconvenience that you may experience.




- wong chee tat :)

HDB Issues Fixed Rate Notes

HDB Issues Fixed Rate Notes

Date issued : 26 Mar 2014

The Housing and Development Board ("HDB") has issued S$750 million, 7-year Fixed Rate Notes (the “Notes”) under its S$22 billion Multicurrency Medium Term Note ("MTN") Programme.

2The Notes have a coupon of 3.008% per annum payable semi-annually in arrear. The Notes were issued on 26 March 2014 and will mature on 26 March 2021.

3The Notes are in denominations of S$250,000 and were offered by way of placement to investors who fall within Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore. Approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained. Admission of the Notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited.
4The Joint Lead Managers are Australia and New Zealand Banking Group Limited, CIMB Bank Berhad, Deutsche Bank AG, Singapore Branch, Maybank Kim Eng Securities Pte. Ltd. and Standard Chartered Bank.
5Under HDB's MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.
6HDB was set up as a statutory board on 1 February 1960. HDB houses over 80% of Singapore's resident population and enables more than nine out of ten of them to be homeowners. This has made Singapore one of the highest home ownership nations in the world. The provision of quality housing and related services, and the renewal of the older HDB estates, will remain the focus for HDB.

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS
This announcement is not an offer for sale of securities in the United States. The Notes have not been and will not be registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the U.S. securities laws. No public offering of securities is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.


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Faster interbank transfer service to start on March 17

Faster interbank transfer service to start on March 17

BY WONG WEI HAN
PUBLISHED: MARCH 10, 7:01 PM UPDATED: MARCH 10, 7:45 PM

SINGAPORE — A new electronic service that enables almost immediate funds transfer between banks based here, will be available from next Monday (March 17), the Association of Banks in Singapore (ABS) announced today.

With Fast And Secure Transfers (FAST), individuals and businesses can perform interbank fund transfers – capped at S$10,000 – between the current 14 participating banks almost instantaneously, shortening a process that can sometimes take up to three days. FAST is only usable for domestic Singapore Dollar transfers.

The participating banks are Australia and New Zealand Banking Group, CIMB, Citibank, DBS (including POSB), Deutsche Bank, Far Eastern Bank, the Hongkong and Shanghai Banking Corp, Maybank, Oversea-Chinese Banking Corp, RHB, The Royal Bank of Scotland, Standard Chartered, Sumitomo Mitsui Banking Corp and United Overseas Bank.

The charges and conditions applied differ between banks. For instance, DBS, OCBC and UOB said they will be making the service free for their retail customers. A sum will be charged to business banking customers, but some banks, such as OCBC and UOB, will waive off these charges for a limited period; DBS will instead offer preferential rates to business customers.

Among the foreign banks, Maybank, RHB and HSBC will similarly offer the service free for their retail customers.

FAST can be accessed through online or mobile banking around the clock. Several banks, such as OCBC and UOB, are also making it available on their ATMs.

- wong chee tat :)

Maybank's Singapore operations post marginal growth in income

Maybank's Singapore operations post marginal growth in income
By Millet Enriquez | Posted: 09 November 2012 2310 hrs
     
SINGAPORE : Malayan Banking's (Maybank) Singapore operations posted income of S$542.4 million for the nine months ended September.

In a news release, Maybank said the marginal 0.1 per cent growth in income was due to slowing growth in the city state.

However, total loans portfolio in the Singapore operations grew at an annualised 2.1 per cent to S$24.9 billion.

The portfolio consists of around 39 per cent consumer loans and 61 per cent corporate loans.

Maybank said the net impaired loans ratio was stable at 0.32 per cent as at September 2012.

Maybank has over 2,200 offices in 20 countries, but around 90 per cent of its group income and profit comes from the key markets of Malaysia, Indonesia and Singapore.

"While we cannot fully avoid the headwinds in the current global economic environment resulting in lower external demand, we remain reassured that our three home markets of Malaysia, Singapore and Indonesia will see resilient domestic growth. With our focus on the region, particularly ASEAN, we expect to register reasonable business growth for the full financial year," said Maybank president and CEO, Dato' Sri Abdul Wahid Omar in a statement.

Overall, Maybank posted a third-quarter net profit of 1.5 billion ringgit - up 13 per cent from 1.33 billion ringgit a year ago.

- CNA/ms

- wong chee tat :)

Maybank tops M'sia valuable brands list

Maybank tops M'sia valuable brands list

The Business Times
Sunday, Oct 21, 2012

KUALA LUMPUR - Three banks and three telcos have topped Interbrand's study of Malaysia's Most Valuable Brands with Maybank emerging the champion, according to Malaysia's Business Times yesterday.

The Association of Accredited Advertising Agents Malaysia (4As) and Media Prima, joint presenters of MMVB 2012, evaluated the candidates' financial performance, role of brand and brand strength.

The study, the fourth in collaboration with the 4As, was undertaken by Interbrand, one of the world's foremost brand consultancies that established the proprietary brand valuation methodology.

The total value of all 30 brands this year is RM80.2 billion (S$32 billion), representing a 49 per cent increase from 2009. The top two brands - Maybank and CIMB - registered more than 100 per cent growth since three years ago. AirAsia, ranked 12th, posted 257.3 per cent growth, the biggest increase among the 30 listed brands.

"To thrive in today's economy, brands must possess the ability to connect emotionally with consumers and engage them with a meaningful experience," Deputy Minister of the Ministry of International Trade and Industry Mukhriz Mahathir said. "Brands must function as the economy/s growth engine. Advertising firms and marketers must encourage this creative democracy to enable our economy to flourish, to the extent that both our products and services are sought the world over," he added.

Brands listed in the valuation must be consumer- facing, originate or be first launched in Malaysia, and be owned by companies listed on Bursa Malaysia. The brand must be an economic asset and contribute to the overall financial well-being of that company.

Maybank's campaign, "Humanising Financial Services Across Asia", an aggressive programme of mergers and acquisitions, helped elevate the nation's leading bank to pole position.

Among telcos, Maxis enhanced customer satisfaction by introducing innovative services that generated additional revenue streams.

This year's study saw the entry of IOI, F&N, SP Setia, and Old Town White Coffee and TM.

Said 4As president Tony Savarimuthu: "While brands have a commercial focus, they are a force for positive change in the society. Driven by consumer expectations of corporate behaviour, the role and value of brands has evolved.

"While the valuation is based on rigour and methodology, there are no finite answers. It is, however, an important bellwether on the state of the nation's brands, provokes debate of best practices and acts as a key platform for discussion and strategy in boardrooms, especially in the media."




- wong chee tat :)