OCBC posts 5% jump in Q3 profit, beating expectations
Posted 27 Oct 2016 09:15 Updated 27 Oct 2016 09:20
SINGAPORE: The Oversea-Chinese Banking Corp (OCBC) beat estimates with a 5 per cent rise in quarterly profit in the third quarter of the year, helped by gains from its insurance and wealth management units, according to its financial results released on Thursday (Oct 27).
However, the bank warned of a challenging operating environment. The city-state's lenders must contend with growing risks to earnings as credit woes deepen for the offshore services sector, which has been hit hard by a drop-off in orders due to a near-two year rout in oil prices until early this year.
Net profit for Singapore's second-biggest bank came in at S$943 million in the third quarter as its insurance and wealth management business powered a 25 per cent climb in non-interest income.
The result handily beat expectations for a decline in profit with the average estimate at S$834 million from five analysts polled by Reuters.
But provisions for bad debt jumped almost 11 per cent to S$166 million, while net interest income dropped 6 per cent due to lower loan volumes and a weaker net interest margin.
"We continue to keep a firm grip on cost, maintain strong liquidity and capital, and ensure prudent levels of provisioning," OCBC Chief Executive Samuel Tsien said in a statement.
Offshore firms that have said they are struggling with debt payments include oilfield services company Swiber Holdings, which was placed under judicial management this month.
Signs of weakness in a trade-dependent economy and the domestic property market are also further squeezing loan demand.
- Reuters/mz
- wong chee tat :)
Showing posts with label debts. Show all posts
Showing posts with label debts. Show all posts
Thursday, October 27, 2016
Sunday, August 21, 2016
4,841 HDB flats on offer in August BTO exercise
4,841 HDB flats on offer in August BTO exercise
Posted 17 Aug 2016 10:40 Updated 18 Aug 2016 17:58
SINGAPORE: A total of 4,841 Build-To-Order (BTO) flats were launched on Wednesday (Aug 17), the Housing and Development Board (HDB) announced.
Five new BTO projects were launched - three in the non-mature towns of Hougang, Sembawang and Yishun, and another two projects in the mature town of Tampines, it said in its press release.
The flats are priced from S$79,000, excluding grants, for a two-room Flexi flat in Hougang and Yishun to S$428,000, excluding grants, for a 3Gen flat in Tampines.
Interested applicants for the current exercise may submit an application online at HDB's InfoWEB from Aug 17 to Aug 23. They can also apply at HDB Hub or any of HDB's branches.
This is the third BTO launch for 2016, bringing the total number of BTO flats offered this year to 12,781 units. Together with the 5,170 balance flats offered in the May exercise, HDB has offered a total of 17.951 flats for sale this year.
Another 5,090 BTO flats in Bedok, Bidadari, Kallang Whampoa and Punggol will be launched in November, while about 5,000 balance flats will also be made available in the concurrent Sale of Balance Flats exercise, HDB said.
- CNA/av
- wong chee tat :)
Posted 17 Aug 2016 10:40 Updated 18 Aug 2016 17:58
SINGAPORE: A total of 4,841 Build-To-Order (BTO) flats were launched on Wednesday (Aug 17), the Housing and Development Board (HDB) announced.
Five new BTO projects were launched - three in the non-mature towns of Hougang, Sembawang and Yishun, and another two projects in the mature town of Tampines, it said in its press release.
The flats are priced from S$79,000, excluding grants, for a two-room Flexi flat in Hougang and Yishun to S$428,000, excluding grants, for a 3Gen flat in Tampines.
Interested applicants for the current exercise may submit an application online at HDB's InfoWEB from Aug 17 to Aug 23. They can also apply at HDB Hub or any of HDB's branches.
This is the third BTO launch for 2016, bringing the total number of BTO flats offered this year to 12,781 units. Together with the 5,170 balance flats offered in the May exercise, HDB has offered a total of 17.951 flats for sale this year.
Another 5,090 BTO flats in Bedok, Bidadari, Kallang Whampoa and Punggol will be launched in November, while about 5,000 balance flats will also be made available in the concurrent Sale of Balance Flats exercise, HDB said.
- CNA/av
- wong chee tat :)
Tuesday, July 5, 2016
Symantec swoops on Blue Coat in $4.65bn deal
Symantec swoops on Blue Coat in $4.65bn deal
Target abandons IPO
13 Jun 2016 at 08:00, Drew Cullen
Blue Coat has scrapped its IPO plans in favour of a $4.65bn takeover by IT security rival Symantec.
Greg Clark, Blue Coat CEO, will take the helm at Symantec, so resolving the question of succession of Mike Brown, who announced his resignation as CEO in April.
On a pro-forma basis, the combined company would have $4.4bn in revenues in FY 2016 and with Blue Coat under its wing, Symantec’s enterprise security business will increase to 62 per cent of group turnover. But $4.65bn is a helluva price to pay.
Symantec is taking on $2.8bn of new debt and using cash on the balance sheet to fund the acquisition. The company aims to pay down a “significant portion of this debt within the next several years” through cash reserves and also through cash generation. It also thinks it can squeeze an additional $150m from Blue Coat in annual cost savings, on top of $400m planned cost cuts, announced in February 2016.
The deal is part-funded by Bain Capital, Blue Coat’s owner, which bought the company for $2.4bn just a year ago. It is buying $750m in unsecured notes in Symantec at a conversion price of $20.41 per share. This is a premium of about 18 per cent on Symantec’s closing price on Friday.
Silver Lake is doubling its investment into Symantec into $1bn, by pumping in another $500m in the form of 2 per cent convertible notes, due in 2021. The private equity firm bought $500m of notes in February 2016, at a conversion price of $21 a share. ®
- wong chee tat :)
Target abandons IPO
13 Jun 2016 at 08:00, Drew Cullen
Blue Coat has scrapped its IPO plans in favour of a $4.65bn takeover by IT security rival Symantec.
Greg Clark, Blue Coat CEO, will take the helm at Symantec, so resolving the question of succession of Mike Brown, who announced his resignation as CEO in April.
On a pro-forma basis, the combined company would have $4.4bn in revenues in FY 2016 and with Blue Coat under its wing, Symantec’s enterprise security business will increase to 62 per cent of group turnover. But $4.65bn is a helluva price to pay.
Symantec is taking on $2.8bn of new debt and using cash on the balance sheet to fund the acquisition. The company aims to pay down a “significant portion of this debt within the next several years” through cash reserves and also through cash generation. It also thinks it can squeeze an additional $150m from Blue Coat in annual cost savings, on top of $400m planned cost cuts, announced in February 2016.
The deal is part-funded by Bain Capital, Blue Coat’s owner, which bought the company for $2.4bn just a year ago. It is buying $750m in unsecured notes in Symantec at a conversion price of $20.41 per share. This is a premium of about 18 per cent on Symantec’s closing price on Friday.
Silver Lake is doubling its investment into Symantec into $1bn, by pumping in another $500m in the form of 2 per cent convertible notes, due in 2021. The private equity firm bought $500m of notes in February 2016, at a conversion price of $21 a share. ®
- wong chee tat :)
Thursday, June 30, 2016
UOB suspends London property loans after Brexit
UOB suspends London property loans after Brexit
Posted 30 Jun 2016 10:14 Updated 30 Jun 2016 15:19
SINGAPORE: United Overseas Bank (UOB), Singapore's third-largest lender, has suspended its loans programme for London properties in the wake of uncertainties caused by Britain's vote to leave the European Union.
UOB would be among the first banks in Singapore to turn cautious on such lending, even though it is not a large amount, as Brexit spooked global markets and pushed the pound to multi-year lows.
"We will temporarily stop receiving foreign property loan applications for London properties," a UOB spokeswoman said in an email.
"As the aftermath of the UK referendum is still unfolding and given the uncertainties, we need to ensure our customers are cautious with their London property investments."
Singapore's biggest lender, DBS Group Holdings, said it continued to provide financing for property purchases in London but was advising its customers to be cautious.
"For customers interested in buying properties in London, we would advise them to assess the situation carefully before committing to their purchases as there could be potential foreign exchange and sovereign risks," Ms Tok Geok Peng, executive director of secured lending, consumer banking group (Singapore) at DBS Bank, said in an email.
The Singapore dollar has gained about 10 per cent against the British pound since the referendum.
"There have been London properties available for the last few months before the Brexit. The question is whether these properties can still continue to receive buyers in the short-term," said Ms Alice Tan, head of consultancy and research at Knight Frank Singapore.
Property consultants say data on the number of properties purchased by Singaporeans in the United Kingdom is not tracked that closely. Banks do not disclose lending data for UK property purchases.
UOB said it was monitoring the market environment closely and would review it regularly to determine when it could resume its property loan offering.
- REUTERS/cy
- wong chee tat :)
Posted 30 Jun 2016 10:14 Updated 30 Jun 2016 15:19
SINGAPORE: United Overseas Bank (UOB), Singapore's third-largest lender, has suspended its loans programme for London properties in the wake of uncertainties caused by Britain's vote to leave the European Union.
UOB would be among the first banks in Singapore to turn cautious on such lending, even though it is not a large amount, as Brexit spooked global markets and pushed the pound to multi-year lows.
"We will temporarily stop receiving foreign property loan applications for London properties," a UOB spokeswoman said in an email.
"As the aftermath of the UK referendum is still unfolding and given the uncertainties, we need to ensure our customers are cautious with their London property investments."
Singapore's biggest lender, DBS Group Holdings, said it continued to provide financing for property purchases in London but was advising its customers to be cautious.
"For customers interested in buying properties in London, we would advise them to assess the situation carefully before committing to their purchases as there could be potential foreign exchange and sovereign risks," Ms Tok Geok Peng, executive director of secured lending, consumer banking group (Singapore) at DBS Bank, said in an email.
The Singapore dollar has gained about 10 per cent against the British pound since the referendum.
"There have been London properties available for the last few months before the Brexit. The question is whether these properties can still continue to receive buyers in the short-term," said Ms Alice Tan, head of consultancy and research at Knight Frank Singapore.
Property consultants say data on the number of properties purchased by Singaporeans in the United Kingdom is not tracked that closely. Banks do not disclose lending data for UK property purchases.
UOB said it was monitoring the market environment closely and would review it regularly to determine when it could resume its property loan offering.
- REUTERS/cy
- wong chee tat :)
Friday, June 10, 2016
Home Loan Rates - DBS
Home Loan Rates - DBS
- wong chee tat :)
Rates are applicable for residential properties (including HDB), quoted on per annum basis and are subject to change without prior notice.
| For purchase of property Fixed Deposit Home Rate (FHR) Floating Rate Package |
Rates
|
|---|---|
| Year 1 | FHR18 + 1.30% |
| Year 2 | FHR18 + 1.30% |
| Year 3 | FHR18 + 1.30% |
| Year 4 and thereafter | FHR18 + 1.30% |
No lock-in period. Fixed Deposit Home Rate (FHR18) refers to the prevailing 18 months Singapore dollar fixed deposit interest rate of DBS Bank for amounts within $1,000 to $9,999 or such other sum as we may specify. The current FHR18 is 0.600% per annum.
| For refinance of property Fixed Deposit Home Rate (FHR) Floating Rate Package |
Rates
|
|---|---|
| Year 1 | FHR18 + 1.30% |
| Year 2 | FHR18 + 1.30% |
| Year 3 | FHR18 + 1.30% |
| Year 4 and thereafter | FHR18 + 1.30% |
No lock-in period. Cash rebate is given for loan amount of $500,000 or more. Fixed Deposit Home Rate (FHR18) refers to the prevailing 18 months Singapore dollar fixed deposit interest rate of DBS Bank for amounts within $1,000 to $9,999 or such other sum as we may specify. The current FHR18 is 0.600% per annum.
| Singapore Interbank Offered Rate (SIBOR) Floating Rate Package |
Rates
|
|---|---|
| Year 1 | 3-month SIBOR + 0.80% |
| Year 2 | 3-month SIBOR + 0.80% |
| Year 3 | 3-month SIBOR + 0.80% |
| Year 4 and thereafter | 3-month SIBOR + 1.25% |
3-month SIBOR refers to the 3-month Singapore Interbank Offered Rate based on the 11a.m. fixing by ABS on the first business day of the month. Click here to view the latest SIBOR rates, under the Rates & Fees tab.
| Fixed Rate Package |
Rates
|
|---|---|
| Year 1 | 1.80% |
| Year 2 | 1.80% |
| Year 3 | 1.80% |
| Year 4 and thereafter | FHR18 + 1.20% |
Comes with a 3-year lock-in period. Fixed Deposit Home Rate (FHR18) refers to the prevailing 18 months Singapore dollar fixed deposit interest rate of DBS Bank for amounts within $1,000 to $9,999 or such other sum as we may specify. The current FHR18 is 0.600% per annum.
- wong chee tat :)
Wednesday, January 27, 2016
Positive Cash Flow or Postive Cash Flow?
Positive Cash Flow or Postive Cash Flow?
- Pics from Internet
- wong chee tat :)
Saturday, January 16, 2016
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:
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 :
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 :
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 :)
Wednesday, January 13, 2016
三个月SIBOR连续两天大涨
三个月SIBOR连续两天大涨
胡渊文 2016年01月13日 1626
|
（联合早报网讯）由于人民币贬值拖累新元汇率，本地的基准利率三个月新元银行同业拆息率（SIBOR）连续两天大涨，攀升到2008年11月以来的最高水平。
三个月SIBOR继前日冲破1.20％的大关后，今天攀升3个基点，达到1.249％。
另一个基准利率三个月新元掉期利率（SOR）星期二晚大涨9个基点至1.72498％，突破1.7％的水平，也是七年多来的最高水平。
- See more at: http://www.zaobao.com.sg/realtime/singapore/story20160113-570485#sthash.ae5z3UW0.dpuf
- wong chee tat :)
胡渊文 2016年01月13日 1626
|
（联合早报网讯）由于人民币贬值拖累新元汇率，本地的基准利率三个月新元银行同业拆息率（SIBOR）连续两天大涨，攀升到2008年11月以来的最高水平。
三个月SIBOR继前日冲破1.20％的大关后，今天攀升3个基点，达到1.249％。
另一个基准利率三个月新元掉期利率（SOR）星期二晚大涨9个基点至1.72498％，突破1.7％的水平，也是七年多来的最高水平。
- See more at: http://www.zaobao.com.sg/realtime/singapore/story20160113-570485#sthash.ae5z3UW0.dpuf
- wong chee tat :)
3-month Sibor crosses 1.25% mark
3-month Sibor crosses 1.25% mark
The three-month Singapore Interbank Offered Rate was fixed at 1.252 per cent on Wednesday, up from 1.249 per cent on Tuesday.
Posted 13 Jan 2016 20:50
SINGAPORE: A key benchmark interest rate used to price home loans rose again on Wednesday (Jan 13), crossing the 1.25 per cent mark to reach a level last seen about seven years ago.
According to data from the Association of Banks in Singapore, the three-month Singapore Interbank Offered Rate (Sibor) was fixed at 1.252 per cent on Wednesday, up from 1.249 per cent on Tuesday.
The three-month Sibor stood at 1.185 per cent at the end of 2015, having risen by around half a percentage point over the course of the year.
Interest rates in Singapore have risen over the past week and a half amid increasing concerns about China. The turmoil in financial markets has also hit the Singapore dollar, which traded around 1.4338 to the US dollar late Wednesday in Asia compared with 1.4122 at the start of 2016.
- CNA/ek
- wong chee tat :)
The three-month Singapore Interbank Offered Rate was fixed at 1.252 per cent on Wednesday, up from 1.249 per cent on Tuesday.
Posted 13 Jan 2016 20:50
SINGAPORE: A key benchmark interest rate used to price home loans rose again on Wednesday (Jan 13), crossing the 1.25 per cent mark to reach a level last seen about seven years ago.
According to data from the Association of Banks in Singapore, the three-month Singapore Interbank Offered Rate (Sibor) was fixed at 1.252 per cent on Wednesday, up from 1.249 per cent on Tuesday.
The three-month Sibor stood at 1.185 per cent at the end of 2015, having risen by around half a percentage point over the course of the year.
Interest rates in Singapore have risen over the past week and a half amid increasing concerns about China. The turmoil in financial markets has also hit the Singapore dollar, which traded around 1.4338 to the US dollar late Wednesday in Asia compared with 1.4122 at the start of 2016.
- CNA/ek
- wong chee tat :)
Tuesday, December 29, 2015
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 :)
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 :)
Monday, November 30, 2015
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 :)
Sunday, November 22, 2015
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 $120,000 per annum and your outstanding unsecured debt must be greater than your annual income before June 1 this year.
RAS: 6996-6006
CCS: 6225-5227
National Addictions Management Service: 1800-6668-668
- wong chee tat :)
Saturday, November 21, 2015
NOVEMBER 2015 2nd Open Bidding Exercise
CATEGORY
|
QUOTA
|
BIDS RECEIVED
|
QP($)
|
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 :)
Thursday, November 12, 2015
Non-landed private home resale prices dip 0.6% from September: SRX Property
Non-landed private home resale prices dip 0.6% from September: SRX Property
A total of 505 non-landed private homes were resold in October, up 9.8 per cent from September, according to latest data from SRX Property released on Wednesday (Nov 11).
POSTED: 11 Nov 2015 11:03 UPDATED: 11 Nov 2015 23:53
SINGAPORE: The resale prices of non-landed private residential units in October dipped 0.6 per cent from September this year, according to latest data from SRX Property released on Wednesday (Nov 11).
Units in the Core Central Region, Rest of Central Region and Outside of Central Region all posted a price drop of 1.1 per cent, 0.5 per cent and 0.4 per cent respectively. Overall resale prices also went down 2.6 per cent, when compared on a year-on-year basis.
Resale volume of non-landed private residential units in October increased 9.8 per cent from the previous month. SRX Property also said an estimated 505 units were resold in October.
However, compared to a year ago, resale volume was flat as a total of 504 units were resold in October 2014.
The median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, was -S$3,000.
For districts with more than 10 resale transactions, District 15 (Katong, Joo Chiat, Amber Road) posted the highest median TOX of S$20,000. The lowest median TOX was in District 14 (Geyang, Eunos) at -S$30,000.
- CNA/xk
- wong chee tat :)
A total of 505 non-landed private homes were resold in October, up 9.8 per cent from September, according to latest data from SRX Property released on Wednesday (Nov 11).
POSTED: 11 Nov 2015 11:03 UPDATED: 11 Nov 2015 23:53
SINGAPORE: The resale prices of non-landed private residential units in October dipped 0.6 per cent from September this year, according to latest data from SRX Property released on Wednesday (Nov 11).
Units in the Core Central Region, Rest of Central Region and Outside of Central Region all posted a price drop of 1.1 per cent, 0.5 per cent and 0.4 per cent respectively. Overall resale prices also went down 2.6 per cent, when compared on a year-on-year basis.
Resale volume of non-landed private residential units in October increased 9.8 per cent from the previous month. SRX Property also said an estimated 505 units were resold in October.
However, compared to a year ago, resale volume was flat as a total of 504 units were resold in October 2014.
The median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, was -S$3,000.
For districts with more than 10 resale transactions, District 15 (Katong, Joo Chiat, Amber Road) posted the highest median TOX of S$20,000. The lowest median TOX was in District 14 (Geyang, Eunos) at -S$30,000.
- CNA/xk
- wong chee tat :)
Wednesday, October 14, 2015
CapitaLand confirms talks to buy Asia Square Tower 1
CapitaLand confirms talks to buy Asia Square Tower 1
The deal involving the consortium of property developer CapitaLand and the Norwegian sovereign wealth fund could value Asia Square Tower 1 at more than S$3.5 billion, reports Bloomberg News.
POSTED: 14 Oct 2015 17:00
SINGAPORE: Southeast Asia's biggest property developer, CapitaLand, on Wednesday (14 Oct) confirmed news reports that it was involved in talks to buy the Asia Square Tower 1 office building.
Its statement to the stock exchange came a day after Bloomberg News said a consortium of Norway's sovereign wealth fund and CapitaLand has been chosen as the preferred bidder for the 43-storey office building in Singapore's central business district. Bloomberg said the deal could value Asia Square Tower 1 at more than S$3.5 billion.
CapitaLand said that as discussions are still ongoing, there is no certainty that a transaction will materialise.
Should the deal proceed, CapitaLand said it anticipates drawing upon internal sources of funds and available credit lines. As of Jun 30, 2015, CapitaLand had about S$3.5 billion in cash and cash equivalents and approximately S$3.1 billion in available undrawn credit facilities.
Asia Square Tower 1, which is owned by asset manager BlackRock, counts Citigroup and Swiss private bank Julius Baer among its main tenants.
- CNA/xq
- wong chee tat :)
The deal involving the consortium of property developer CapitaLand and the Norwegian sovereign wealth fund could value Asia Square Tower 1 at more than S$3.5 billion, reports Bloomberg News.
POSTED: 14 Oct 2015 17:00
SINGAPORE: Southeast Asia's biggest property developer, CapitaLand, on Wednesday (14 Oct) confirmed news reports that it was involved in talks to buy the Asia Square Tower 1 office building.
Its statement to the stock exchange came a day after Bloomberg News said a consortium of Norway's sovereign wealth fund and CapitaLand has been chosen as the preferred bidder for the 43-storey office building in Singapore's central business district. Bloomberg said the deal could value Asia Square Tower 1 at more than S$3.5 billion.
CapitaLand said that as discussions are still ongoing, there is no certainty that a transaction will materialise.
Should the deal proceed, CapitaLand said it anticipates drawing upon internal sources of funds and available credit lines. As of Jun 30, 2015, CapitaLand had about S$3.5 billion in cash and cash equivalents and approximately S$3.1 billion in available undrawn credit facilities.
Asia Square Tower 1, which is owned by asset manager BlackRock, counts Citigroup and Swiss private bank Julius Baer among its main tenants.
- CNA/xq
- wong chee tat :)
Saturday, August 29, 2015
HDB May 2015 BTO
HDB May 2015 BTO
- wong chee tat :)
| Number of Applications Received as at 2 June 2015 |
This e-service allows you to find out the number of applications received |
Applicants | What it means: An Application Rate of 3 means that for every 1 flat available, there are 3 applicants vying for the unit. As a general guide (see Note 2 below), the table below gives an overview under the current flat allocation policies. Sum of the computed number of applications may not add up due to rounding.
(Mouse-over for details) | |||||||||||||||||||||||||||||||||
| Non-Mature Towns/Estates | ||||||||||||||||||||||||||||||||||
Punggol Northshore Residences I / Northshore Residences II | 2-room | 546 | 2969 | 0.5 | 0.5 | 10.4 | 5.4 | |||||||||||||||||||||||||||
| 3-room | 112 | 367 | 2.3 | 5.6 | NA | 3.3 | ||||||||||||||||||||||||||||
| 4-room | 519 | 1001 | 1.7 | 3.2 | NA | 1.9 | ||||||||||||||||||||||||||||
| 5-room | 225 | 658 | 1.8 | 9.2 | NA | 2.9 | ||||||||||||||||||||||||||||
Sembawang EastLink I @ Canberra / EastLink II @ Canberra | 2-room | 403 | 1652 | 0.2 | 0.4 | 7.9 | 4.1 | |||||||||||||||||||||||||||
| 3-room | 255 | 314 | 0.9 | 2.1 | NA | 1.2 | ||||||||||||||||||||||||||||
| 4-room | 383 | 1428 | 3.3 | 6.0 | NA | 3.7 | ||||||||||||||||||||||||||||
| Mature Towns/ Estates | ||||||||||||||||||||||||||||||||||
Clementi Clementi Crest | 4-room | 229 | 1995 | 6.8 | 47.5 | NA | 8.7 | |||||||||||||||||||||||||||
| 5-room | 156 | 2173 | 9.1 | 116.4 | NA | 13.9 | ||||||||||||||||||||||||||||
Tampines Tampines GreenWeave | Studio Apartment | 224 | 236 | Not Applicable | 1.1 | |||||||||||||||||||||||||||||
| 3-room | 80 | 317 | 2.1 | 40.0 | NA | 4.0 | ||||||||||||||||||||||||||||
| 4-room | 465 | 1488 | 2.6 | 14.4 | NA | 3.2 | ||||||||||||||||||||||||||||
| 5-room /3Gen | 447# | 1170 | 2.0 | 15.3 | NA | 2.6 | ||||||||||||||||||||||||||||
| TOTAL (excluding Studio Apartment) | 3820 | 15532 | 2.8 | 5.7 | 9.3 | 4.1 | ||||||||||||||||||||||||||||
| TOTAL (including Studio Apartment) | 4044 | 15768 | Not Applicable | 3.9 | ||||||||||||||||||||||||||||||
| # Figure includes 56 units of 3Gen flats from Tampines GreenWeave which are specially designed for Multi-Generation families. |
| Note : |
| 1. The Number of Applications Received is as at midnight on 2 June 2015. Allocation of flats is subject to prevailing eligibility conditions, availability of flats and Ethnic Integration Policy. |
| 2. Application Rates: |
| Non-mature Estates 2-room: First-timer application rate refers to the number of first-timer applications divided by 20% of the flat supply. Second-timer application rate refers to the number of second-timers divided by 30% of the flat supply while first-timer Singles application rate refer to the number of Singles applications received divided by 50% of the flat supply. 3-room: First-timer application rate refers to the number of first-timer applications divided by 70% of the flat supply, while second-timer application rate refers to the number of second-timer applications received divided by 30% of the flat supply. 4-/ 5-room: First-timer application rate refers to the number of first-timer applications divided by 85% of the flat supply, while second-timer application rate refers to the number of second-timer applications divided by 15% of the flat supply. |
Mature Estates 2- to 5-room: First-timer application rate refers to the number of first-timer applications divided by 95% of the flat supply, while second-timer application rate refers to the number of second-timer applications divided by 5% of the flat supply. (However, for both non-mature and mature estates, some flats are also set aside for quota-based priority schemes, where HDB does not differentiate between first-timers and second-timers. If there are fewer first-timers than the number of flats set aside for them, the excess flats will be allocated to second-timers.) |
| 3. The associated breakdown by first-timers and second-timers for studio apartments is not shown, as HDB does not differentiate its treatment of studio apartment applicants. |
- wong chee tat :)
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