铜板街联合和讯发布《2016女性财富管理报告》
2016年08月19日 16:54:37 来源： 浙江在线
随着女性家庭与职场地位的提升，围绕女性群体形成了特殊的消费与理财圈层，使得“她经济”成为这个时代最重要的议题之一。女性消费以及财富管理行为有何特点，她们对互联网理财有何偏好？8月18日，国内领先的智能财富管理平台铜板街联合权威财经媒体和讯发布了《2016年女性财富管理报告》，从事业家庭、消费理财以及互联网理财三个角度，对正在崛起的女性投资群体进行全面解析。
《报告》显示，有近60%的家庭中，女性负责家庭财富管理决策，成为家庭财富管理 “一把手”。其中，女性收入水平在很大程度上影响其在家庭中的财富管理地位，年薪越高，女人掌财的话语权力就越大。由于肩负着妻子、母亲、儿女等“多角色”身份，女性家庭责任自我定位使得她们在家庭生活安排、家庭消费支出、保险的购买甚至理财决策中都承担了更大的责任，所以其理财需求也显得非常强烈。
《报告》指出，在家庭理财资产的配置方面，女性的投资理财行为仍然比男性显得保守，更加注重规避风险。反映在选择具体的理财渠道方面，女性投资于股市、房地产等资产的比例较之男性都比较低。不过，随着近年来互联网金融的兴起，女性对于这一新事物的接纳和尝试意愿要比男性高，让女性走在了互联网理财的最前端。
在女性互联网理财画像上，她们主要是25-35 周岁的一群经济独立的女性；北上广深以及东南沿海城市的女性，继续 2015 年的态势领跑互联网理财。其中，收入年薪处于 8W-15W 的女性对于互金理财最为感兴趣，不过，收入在 20W-50W之间的女性投资能力最强，她们中 77.3%投资额度都超过了10W，并且30.4%的互金产品配置超过总投资金额的 50%。《报告》显示，有互金投资经验的被调查者中 66.7%的人表示会继续增加互联网金融产品的投资，展现出她们对于互金行业发展的乐观心态。
据悉，本次《报告》由和讯、铜板街、阿里研究院、数字100合作完成。作为样本数据的提供方，铜板街前期通过移动端和社会化媒体对百万女性用户发放问卷，从女性的消费观念、资产规模、理财偏好等多方面进行调研，筛选出有效样本10000份，为深入研究女性理财市场提供了鲜活的第一手资料。
铜板街市场高级总监夏洁表示，连续两年与和讯网一起调研和发布女性财富管理报告，我们希望通过对女性理财的行为和心理进行分析，对追求稳健理财的女性用户有一些实际意义的指导，让她们的钱变得更有价值。接下来，铜板街也将针对女性用户的理财特点，为其量身定制家庭财富管理方案，满足女性用户的多种理财需求。
原文链接
- wong chee tat :)
Showing posts with label financial. Show all posts
Showing posts with label financial. Show all posts
Saturday, September 3, 2016
Thursday, July 7, 2016
3 fintech startups selected for coaching, mentorship by PayPal in Singapore
3 fintech startups selected for coaching, mentorship by PayPal in Singapore
By Calvin Hui Posted 07 Jul 2016 18:19 Updated 07 Jul 2016 22:43
SINGAPORE: Online payment company PayPal has launched its first startup incubation programme in Singapore with three financial technology, or fintech startups selected. The nine-month programme will offer the startups coaching and mentorship by PayPal executives and other experts, as well as networking opportunities.
Paypal on Thursday (Jul 7) also said the startups would operate from a conducive co-working space to promote collaboration and innovation.
One of these startups is Prosecure, which aims to allow online shoppers to return their products for free. Its co-founder Wei Zhu, who was formerly chief technology officer at ride-hailing app Grab, said free returns have helped merchants achieve 300 per cent in repeat sales. He added that free returns include the cost of shipping the product back to the online store.
Another company is Invoiceinterchange, a peer-to-peer platform that allows small- and medium-sized enterprises to raise money. These SMEs can auction unpaid invoices to investors, which CEO Brian Teng said can help improve cash flow for businesses and give investors an alternative investment option.
Aiming to eliminate the costs of sending and spending money, ONEPAY is the third startup under the programme. It taps on Bitcoin and Blockchain technology and allows users to make payments to nine million merchants around the world through NFC-enabled credit card terminals without incurring foreign exchange fees. ONEPAY's Chief Experience Officer Paul K compared the service to moving from sending messages with a fee, to using services such as WhatsApp, which is free.
The startups were selected based on criteria such as management team, differentiation of product and services as well as scalability and profitability of the markets they are aimed at.
- CNA/xk
- wong chee tat :)
By Calvin Hui Posted 07 Jul 2016 18:19 Updated 07 Jul 2016 22:43
SINGAPORE: Online payment company PayPal has launched its first startup incubation programme in Singapore with three financial technology, or fintech startups selected. The nine-month programme will offer the startups coaching and mentorship by PayPal executives and other experts, as well as networking opportunities.
Paypal on Thursday (Jul 7) also said the startups would operate from a conducive co-working space to promote collaboration and innovation.
One of these startups is Prosecure, which aims to allow online shoppers to return their products for free. Its co-founder Wei Zhu, who was formerly chief technology officer at ride-hailing app Grab, said free returns have helped merchants achieve 300 per cent in repeat sales. He added that free returns include the cost of shipping the product back to the online store.
Another company is Invoiceinterchange, a peer-to-peer platform that allows small- and medium-sized enterprises to raise money. These SMEs can auction unpaid invoices to investors, which CEO Brian Teng said can help improve cash flow for businesses and give investors an alternative investment option.
Aiming to eliminate the costs of sending and spending money, ONEPAY is the third startup under the programme. It taps on Bitcoin and Blockchain technology and allows users to make payments to nine million merchants around the world through NFC-enabled credit card terminals without incurring foreign exchange fees. ONEPAY's Chief Experience Officer Paul K compared the service to moving from sending messages with a fee, to using services such as WhatsApp, which is free.
The startups were selected based on criteria such as management team, differentiation of product and services as well as scalability and profitability of the markets they are aimed at.
- CNA/xk
- wong chee tat :)
Monday, June 13, 2016
Opportunities for insurers to cover risks from cyber attacks, natural disasters: Tharman
Opportunities for insurers to cover risks from cyber attacks, natural disasters: Tharman
Deputy Prime Minister Tharman Shanmugaratnam cites growth areas in the region that insurers can tap, including providing insurance solutions for cyber and natural disaster risks as well as investing in infrastructure.
By Nicole Tan
Posted 13 Jun 2016 21:54 Updated 13 Jun 2016 22:06
SINGAPORE: There are opportunities for insurers in financing infrastructure and providing insurance for cyber attacks and natural disasters, despite the challenge of persistently low interest rates, said Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam.
He was speaking at the International Insurance Society Global Insurance Forum on Monday (Jun 13).
Mr Tharman cited growth areas in the region that insurers can tap, including providing insurance solutions for cyber and natural disaster risks, as well as investing in infrastructure.
To enable long-term investments, such as for infrastructure, Mr Tharman said the Monetary Authority of Singapore is seeking to modify its risk-based capital framework for insurers. He said the next public consultation on this will be held at the end of the month.
Mr Tharman also noted that the economic cost of natural disasters is growing but that the take-up of catastrophe insurance in Asia has been "woefully low". The Deputy Prime Minister pointed to a data gap: "The industry needs good data on the frequency, location and economic impact of natural disasters, so that insurers and reinsurers can price risks adequately. So we have had a limited supply of insurance coverage, that has itself led to higher cost of protection, which in turn discourages demand for insurance against catastrophe risks."
Likewise, Mr Tharman noted that the data needed for the efficient underwriting of cyber risk is "weak". He said: "We need to strengthen collaboration between the industry, government and academia to build reliable databases and analytical tools to enable the efficient underwriting of cyber risk."
ACTIVE INVESTMENT MANAGEMENT 'NOT ALL IT HAS BEEN CRACKED UP TO BE'
As populations age, individuals need to save more for a longer retirement. Meanwhile, slower economic growth is weighing on investment. Mr Tharman said higher savings and lower investment suggest that long-term real interest rates are likely to stay low for quite some time to come. He added that this poses a challenge for insurance and pension funds.
He said: “It hits you on both your assets and your liabilities. It means a lower return on your assets. And it pushes up the value of liabilities because the discount rate has gone down. It is not a temporary challenge but a long-term challenge.
"As life expectancy goes up, liabilities will be pushed out further, and the gap in maturity between your liabilities and your assets is likely to grow. This mismatch in durations, together with low interest rates, means we have a growing problem."
Going forward, Mr Tharman said fundamental reforms are needed to address the challenges, such as making the workplace more attractive to older employees.
As for the finance industry, he said there should be a shift towards passive investment management, away from active management which has proven costly for ordinary savers.
Mr Tharman said: “Active management is not all it has been cracked up to be: it has not proven its worth for most ordinary savers preparing for their retirement. We do have to move towards a system, in a whole range of countries, of helping people save for the long term through passive investment funds, and pool savings to avoid fragmentation and excessive marketing costs.”
- CNA/ms
- wong chee tat :)
Deputy Prime Minister Tharman Shanmugaratnam cites growth areas in the region that insurers can tap, including providing insurance solutions for cyber and natural disaster risks as well as investing in infrastructure.
By Nicole Tan
Posted 13 Jun 2016 21:54 Updated 13 Jun 2016 22:06
SINGAPORE: There are opportunities for insurers in financing infrastructure and providing insurance for cyber attacks and natural disasters, despite the challenge of persistently low interest rates, said Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam.
He was speaking at the International Insurance Society Global Insurance Forum on Monday (Jun 13).
Mr Tharman cited growth areas in the region that insurers can tap, including providing insurance solutions for cyber and natural disaster risks, as well as investing in infrastructure.
To enable long-term investments, such as for infrastructure, Mr Tharman said the Monetary Authority of Singapore is seeking to modify its risk-based capital framework for insurers. He said the next public consultation on this will be held at the end of the month.
Mr Tharman also noted that the economic cost of natural disasters is growing but that the take-up of catastrophe insurance in Asia has been "woefully low". The Deputy Prime Minister pointed to a data gap: "The industry needs good data on the frequency, location and economic impact of natural disasters, so that insurers and reinsurers can price risks adequately. So we have had a limited supply of insurance coverage, that has itself led to higher cost of protection, which in turn discourages demand for insurance against catastrophe risks."
Likewise, Mr Tharman noted that the data needed for the efficient underwriting of cyber risk is "weak". He said: "We need to strengthen collaboration between the industry, government and academia to build reliable databases and analytical tools to enable the efficient underwriting of cyber risk."
ACTIVE INVESTMENT MANAGEMENT 'NOT ALL IT HAS BEEN CRACKED UP TO BE'
As populations age, individuals need to save more for a longer retirement. Meanwhile, slower economic growth is weighing on investment. Mr Tharman said higher savings and lower investment suggest that long-term real interest rates are likely to stay low for quite some time to come. He added that this poses a challenge for insurance and pension funds.
He said: “It hits you on both your assets and your liabilities. It means a lower return on your assets. And it pushes up the value of liabilities because the discount rate has gone down. It is not a temporary challenge but a long-term challenge.
"As life expectancy goes up, liabilities will be pushed out further, and the gap in maturity between your liabilities and your assets is likely to grow. This mismatch in durations, together with low interest rates, means we have a growing problem."
Going forward, Mr Tharman said fundamental reforms are needed to address the challenges, such as making the workplace more attractive to older employees.
As for the finance industry, he said there should be a shift towards passive investment management, away from active management which has proven costly for ordinary savers.
Mr Tharman said: “Active management is not all it has been cracked up to be: it has not proven its worth for most ordinary savers preparing for their retirement. We do have to move towards a system, in a whole range of countries, of helping people save for the long term through passive investment funds, and pool savings to avoid fragmentation and excessive marketing costs.”
- CNA/ms
- wong chee tat :)
Thursday, March 24, 2016
Town Councils may need to set aside part of sinking fund for lift replacement: Lawrence Wong
Town Councils may need to set aside part of sinking fund for lift replacement: Lawrence Wong
The National Development Minister was responding to queries from Member of Parliament for Bishan-Toa Payoh GRC Chong Kee Hiong on whether the ministry will investigate if Town Councils have sufficient funds for such projects.
By Chan Luo Er, Channel NewsAsia
Posted 24 Mar 2016 20:28 Updated 24 Mar 2016 20:30
SINGAPORE: Town Councils may be made to set aside part of their sinking funds for lift replacement, said National Development Minister Lawrence Wong in Parliament on Thursday (Mar 24).
He was responding to queries from Member of Parliament for Bishan-Toa Payoh GRC Chong Kee Hiong on whether the ministry will investigate if Town Councils have sufficient funds for such projects.
This comes after the authorities announced plans to ramp up checks on lifts, especially in HDB blocks, and update lift regulations following a recent spate of incidents.
"The Ministry of National Development is currently reviewing ways to help Town Councils plan ahead and better monitor their long-term financial sufficiency. For example, we are looking at having Town Councils do their own projections and put in place plans for financial sustainability. Given that lift replacement is a major Sinking Fund expenditure, we are also considering ring-fencing part of the Town Councils’ Sinking Funds to cater for such expenditures," said Mr Wong.
Mr Wong also said Town Councils are required to keep lifts functioning properly in HDB estates and should ensure they have enough funds to carry out their responsibilities.
Under the Town Council Act and Rules, they must set aside a minimum of 30 or 35 per cent of the service and conservancy charges collected and grants-in-aid received to fund cyclical works, including lift replacement.
- CNA/dl
- wong chee tat :)
The National Development Minister was responding to queries from Member of Parliament for Bishan-Toa Payoh GRC Chong Kee Hiong on whether the ministry will investigate if Town Councils have sufficient funds for such projects.
By Chan Luo Er, Channel NewsAsia
Posted 24 Mar 2016 20:28 Updated 24 Mar 2016 20:30
SINGAPORE: Town Councils may be made to set aside part of their sinking funds for lift replacement, said National Development Minister Lawrence Wong in Parliament on Thursday (Mar 24).
He was responding to queries from Member of Parliament for Bishan-Toa Payoh GRC Chong Kee Hiong on whether the ministry will investigate if Town Councils have sufficient funds for such projects.
This comes after the authorities announced plans to ramp up checks on lifts, especially in HDB blocks, and update lift regulations following a recent spate of incidents.
"The Ministry of National Development is currently reviewing ways to help Town Councils plan ahead and better monitor their long-term financial sufficiency. For example, we are looking at having Town Councils do their own projections and put in place plans for financial sustainability. Given that lift replacement is a major Sinking Fund expenditure, we are also considering ring-fencing part of the Town Councils’ Sinking Funds to cater for such expenditures," said Mr Wong.
Mr Wong also said Town Councils are required to keep lifts functioning properly in HDB estates and should ensure they have enough funds to carry out their responsibilities.
Under the Town Council Act and Rules, they must set aside a minimum of 30 or 35 per cent of the service and conservancy charges collected and grants-in-aid received to fund cyclical works, including lift replacement.
- CNA/dl
- wong 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 :)
Monday, November 10, 2014
Singaporeans more upbeat over jobs, finances: Nielsen
Singaporeans more upbeat over jobs, finances: Nielsen
However, while consumer confidence is rising, more Singaporeans say they want to put their spare cash into savings compared to the same time last year, according to the Nielsen Survey of Consumer Confidence and Spending Intentions.
- wong chee tat :)
However, while consumer confidence is rising, more Singaporeans say they want to put their spare cash into savings compared to the same time last year, according to the Nielsen Survey of Consumer Confidence and Spending Intentions.
SINGAPORE: People in the Republic are more upbeat over their job prospects and personal finances, according to the latest findings from global measurement company Nielsen.
According to the third-quarter Consumer Confidence Index released on Monday (Nov 10), consumer confidence levels climbed over the 100-point baseline for the first time since Q3 2011 to reach 103 points. Consumer confidence levels above and below the baseline indicate degrees of optimism and pessimism.
In Nielsen's Global Survey of Consumer Confidence and Spending Intentions, it also revealed that 59 per cent of Singaporeans see their personal finances for the coming year as good or excellent. There was also an eight-point increase on-quarter in the number of consumers who feel that future job prospects would be positive, from 53 per cent in Q2 to 61 per cent in Q3.
While confidence is on the rise, more Singaporean want to put their spare cash into savings compared to the same time last year, showed the survey. But Singaporeans are also the most inclined to spend their spare cash on vacations globally, with 51 per cent willing to spend on trips. This is an increase of 8 percentage points, compared to Q2 2014.
On the other end of the scale, 5 per cent of Singaporeans surveyed in the third quarter said they have no spare cash.
Singaporeans are also trying to cut down on their household bills, reported Nielsen, with 63 per cent wanting to do so. To this end, they said they want to spend less on new clothes, switch to cheaper grocery brands and cut down on out-of-home entertainment.
The Nielsen Survey of Consumer Confidence and Spending Intentions was conducted between Aug 13 and Sep 5 this year, and polled 515 Singaporeans. The findings were based only on the behaviour of respondents with Internet access, according to the company.
- CNA/av
- wong chee tat :)
Thursday, October 30, 2014
Lower bonus expectation in finance industry: Survey
Lower bonus expectation in finance industry: Survey
TODAY reports: Of the 696 professionals polled, only 42 per cent are looking forward to an increment to their bonuses, down from last year’s 50 per cent.
SINGAPORE: Fewer professionals in the financial industry here are expecting a bigger annual bonus this year, a survey has found, with the sector’s performance seeing some pullback in recent times amid market and geopolitical uncertainties.
Of the 696 professionals polled by eFinancialCareers in Singapore between September and October, only 42 per cent are looking forward to an increment to their bonuses, down from last year’s 50 per cent.
The survey results come at a time when the finance and insurance sector reported a 5.5 per cent on-year growth in the second quarter of this year, down from the first quarter’s 5.7 per cent and last year’s 10.5 per cent in the fourth quarter, the latest data by the Monetary Authority of Singapore (MAS) shows.
But Mr George McFerran, eFinancialCareers’ director for sales and marketing, said: “Results from the survey are not a reflection of the health of the financial services industry, but indicate that professionals have more realistic expectations when it comes to bonus payout. We’ve often seen a mismatch in the past.”
LONG TERM CAREER PROSPECTS
The Government is, however, cautious about Singaporeans’ long term career prospects in the financial sector, which has halved its hiring since 2012, from about 10,000 new jobs annually in 2010 and 2011. New technologies have further transformed banking operations, Deputy Prime Minister Tharman Shanmugaratnam had said in June during the anniversary dinner of the Institute of Banking and Finance Singapore.
Reflecting this trend, the latest MAS data also reveals slowing employment in the sector this year, from 2,400 new jobs in the first quarter to second quarter’s 1,300 new jobs.
“There is a driving force that is transforming activity across all financial markets and that is technological change,” Mr Tharman had said in June. “Our financial sector has significant opportunities ahead of it… but growth will demand deeper skills and expertise, rather than a large expansion of jobs.”
Against this backdrop, the Government is setting aside about S$60 million this year for training programmes, in a bid to enhance Singaporeans’ banking expertise for an increasingly sophisticated and challenging industry.
-TODAY/cy
- wong chee tat :)
TODAY reports: Of the 696 professionals polled, only 42 per cent are looking forward to an increment to their bonuses, down from last year’s 50 per cent.
SINGAPORE: Fewer professionals in the financial industry here are expecting a bigger annual bonus this year, a survey has found, with the sector’s performance seeing some pullback in recent times amid market and geopolitical uncertainties.
Of the 696 professionals polled by eFinancialCareers in Singapore between September and October, only 42 per cent are looking forward to an increment to their bonuses, down from last year’s 50 per cent.
The survey results come at a time when the finance and insurance sector reported a 5.5 per cent on-year growth in the second quarter of this year, down from the first quarter’s 5.7 per cent and last year’s 10.5 per cent in the fourth quarter, the latest data by the Monetary Authority of Singapore (MAS) shows.
But Mr George McFerran, eFinancialCareers’ director for sales and marketing, said: “Results from the survey are not a reflection of the health of the financial services industry, but indicate that professionals have more realistic expectations when it comes to bonus payout. We’ve often seen a mismatch in the past.”
LONG TERM CAREER PROSPECTS
The Government is, however, cautious about Singaporeans’ long term career prospects in the financial sector, which has halved its hiring since 2012, from about 10,000 new jobs annually in 2010 and 2011. New technologies have further transformed banking operations, Deputy Prime Minister Tharman Shanmugaratnam had said in June during the anniversary dinner of the Institute of Banking and Finance Singapore.
Reflecting this trend, the latest MAS data also reveals slowing employment in the sector this year, from 2,400 new jobs in the first quarter to second quarter’s 1,300 new jobs.
“There is a driving force that is transforming activity across all financial markets and that is technological change,” Mr Tharman had said in June. “Our financial sector has significant opportunities ahead of it… but growth will demand deeper skills and expertise, rather than a large expansion of jobs.”
Against this backdrop, the Government is setting aside about S$60 million this year for training programmes, in a bid to enhance Singaporeans’ banking expertise for an increasingly sophisticated and challenging industry.
-TODAY/cy
- wong chee tat :)
Monday, December 23, 2013
China interbank rates surge again despite cash injection
China interbank rates surge again despite cash injection
POSTED: 23 Dec 2013 18:08
China's interbank interest rates surged again on Monday despite hefty cash injections last week by the central bank, suggesting money market stress remains as authorities maintain a prudent stance.
BEIJING: China's interbank interest rates surged again on Monday despite hefty cash injections last week by the central bank, suggesting money market stress remains as authorities maintain a prudent stance.
The seven-day repurchase-agreement rate -- a benchmark for interbank borrowing costs -- rose to 9.8 per cent, the highest since it hit 11.62 per cent on June 20 at the peak of China's summer cash crunch that unnerved global markets, according to Dow Jones Newswires.
"The spike in interbank rate indicates that the lack of market confidence has worsened the liquidity crunch," Wendy Chen, a Shanghai-based economist at Nomura Securities, told AFP.
The rates, which serve as funding costs for pricing and investment, have been trending higher recently as the People's Bank of China (PBoC) had refrained from injecting further liquidity through a routine open market operation for two weeks.
In a gesture to calm the market, the PBoC announced Friday that it had injected more than 300 billion yuan ($49.4 billion) into the financial system over a three-day period via the so-called short-term liquidity operations (SLOs).
"Currently the banking system has excess reserves of over 1.5 trillion yuan, a relatively high level compared with the same periods in history," it said on its verified account on China's Twitter-like Sina Weibo.
The announcement followed a similar statement on Thursday that the bank had "appropriately injected" an unspecified amount of cash into the market through SLOs.
The interbank market responded with brief signs of improving funding conditions earlier Monday. The repo rate began the day's trading at 5.57 per cent, down from Friday's 8.2 per cent, before rebounding.
"More credit and further measures from the PBoC are probably required, to let the market regain its confidence, before the rate can become stabilised," Chen said.
Chinese shares edged up Monday, with the benchmark Shanghai Composite Index ending up 0.24 per cent at 2,089.71. But analysts warned that the gains will soon evaporate without fresh funds flowing into the stock market.
The state-run Securities Times newspaper on Monday quoted analysts as saying that the central bank intended to signal to the market its "neutral but slightly tight" policy stance by keeping suspended its routine, more aggressive liquidity-releasing tools and appeasing the market only with SLOs.
The SLOs are discreet, targeted exercises confined to a select group of 12 banks that are deemed crucial to the overall stability of China's financial system. They are a new tool the PBoC introduced in January.
- AFP/nd
- wong chee tat :)
POSTED: 23 Dec 2013 18:08
China's interbank interest rates surged again on Monday despite hefty cash injections last week by the central bank, suggesting money market stress remains as authorities maintain a prudent stance.
BEIJING: China's interbank interest rates surged again on Monday despite hefty cash injections last week by the central bank, suggesting money market stress remains as authorities maintain a prudent stance.
The seven-day repurchase-agreement rate -- a benchmark for interbank borrowing costs -- rose to 9.8 per cent, the highest since it hit 11.62 per cent on June 20 at the peak of China's summer cash crunch that unnerved global markets, according to Dow Jones Newswires.
"The spike in interbank rate indicates that the lack of market confidence has worsened the liquidity crunch," Wendy Chen, a Shanghai-based economist at Nomura Securities, told AFP.
The rates, which serve as funding costs for pricing and investment, have been trending higher recently as the People's Bank of China (PBoC) had refrained from injecting further liquidity through a routine open market operation for two weeks.
In a gesture to calm the market, the PBoC announced Friday that it had injected more than 300 billion yuan ($49.4 billion) into the financial system over a three-day period via the so-called short-term liquidity operations (SLOs).
"Currently the banking system has excess reserves of over 1.5 trillion yuan, a relatively high level compared with the same periods in history," it said on its verified account on China's Twitter-like Sina Weibo.
The announcement followed a similar statement on Thursday that the bank had "appropriately injected" an unspecified amount of cash into the market through SLOs.
The interbank market responded with brief signs of improving funding conditions earlier Monday. The repo rate began the day's trading at 5.57 per cent, down from Friday's 8.2 per cent, before rebounding.
"More credit and further measures from the PBoC are probably required, to let the market regain its confidence, before the rate can become stabilised," Chen said.
Chinese shares edged up Monday, with the benchmark Shanghai Composite Index ending up 0.24 per cent at 2,089.71. But analysts warned that the gains will soon evaporate without fresh funds flowing into the stock market.
The state-run Securities Times newspaper on Monday quoted analysts as saying that the central bank intended to signal to the market its "neutral but slightly tight" policy stance by keeping suspended its routine, more aggressive liquidity-releasing tools and appeasing the market only with SLOs.
The SLOs are discreet, targeted exercises confined to a select group of 12 banks that are deemed crucial to the overall stability of China's financial system. They are a new tool the PBoC introduced in January.
- AFP/nd
- wong chee tat :)
Sunday, November 3, 2013
Number of pawn shops in Singapore increasing
Number of pawn shops in Singapore increasing
POSTED: 02 Nov 2013 16:30
The number of pawn shops in Singapore has grown about 70 per cent to almost 200 in 2012. This is compared to 114 pawn shops in 2008.
SINGAPORE: The number of pawn shops in Singapore has grown about 70 per cent to almost 200 in 2012. This is compared to 114 pawn shops in 2008.
Credit Counselling Singapore said the demand for pawn shops may have increased as the interest rates they offer are lower compared to legal money lenders. It added that pawn shops are modernising the way they operate, and provide an option for lower and middle-income families.
Member of Parliament Seah Kian Peng expressed concern over the increase in number of pawn shops, especially in prominent areas such as town centres and MRT stations.
He said: "It would signify that unfortunately, there are quite a number of us, quite a number of Singaporeans or families who could do better with financial management, financial planning and financial literacy."
- CNA/ac
- wong chee tat :)
POSTED: 02 Nov 2013 16:30
The number of pawn shops in Singapore has grown about 70 per cent to almost 200 in 2012. This is compared to 114 pawn shops in 2008.
SINGAPORE: The number of pawn shops in Singapore has grown about 70 per cent to almost 200 in 2012. This is compared to 114 pawn shops in 2008.
Credit Counselling Singapore said the demand for pawn shops may have increased as the interest rates they offer are lower compared to legal money lenders. It added that pawn shops are modernising the way they operate, and provide an option for lower and middle-income families.
Member of Parliament Seah Kian Peng expressed concern over the increase in number of pawn shops, especially in prominent areas such as town centres and MRT stations.
He said: "It would signify that unfortunately, there are quite a number of us, quite a number of Singaporeans or families who could do better with financial management, financial planning and financial literacy."
- CNA/ac
- wong chee tat :)
Friday, October 11, 2013
Thursday, August 15, 2013
Companies urged to raise quality of financial reporting
Companies urged to raise quality of financial reporting
POSTED: 14 Aug 2013 11:22 PM
Companies need to take greater ownership over their financial statements and raise the quality of financial reporting. That is the conclusion following a survey conducted by ACRA and ACCA this year.
SINGAPORE: Companies need to take greater ownership over their financial statements and raise the quality of financial reporting.
That is the conclusion following a survey conducted by the Accounting and Corporate Regulatory Authority (ACRA) and the Association of Chartered Certified Accountants (ACCA) this year.
About half of the 400 accountants surveyed appeared to put the main responsibility for the preparation of financial statements on auditors.
Speaking at the Public Accountants Conference on Wednesday, Minister of State for Finance Josephine Teo said this suggests that poor preparation of financial statements stems from the lack of ownership of the quality of financial reporting by companies.
According to measures identified in the survey, companies should put greater emphasis on developing the resources needed for effective financial reporting. These include bringing on board qualified accountants, enhancing training and implementing suitable IT systems.
Meanwhile, ACRA is studying ways to further strengthen financial reporting.
These include making key office holders like CEOs and CFOs of listed companies legally liable for their companies' financial reports.
Currently, only directors have legal responsibility for the companies' financial statements.
Mrs Teo said: "The top management of a company has to set the tone right. They must also take ownership of putting in place the right systems and people to enable the preparation of accurate financial statements.
"High-quality financial reporting is part and parcel of good governance and is key to maintaining Singapore's competitive advantage as a trusted business environment."
- CNA/ms
- wong chee tat :)
POSTED: 14 Aug 2013 11:22 PM
Companies need to take greater ownership over their financial statements and raise the quality of financial reporting. That is the conclusion following a survey conducted by ACRA and ACCA this year.
SINGAPORE: Companies need to take greater ownership over their financial statements and raise the quality of financial reporting.
That is the conclusion following a survey conducted by the Accounting and Corporate Regulatory Authority (ACRA) and the Association of Chartered Certified Accountants (ACCA) this year.
About half of the 400 accountants surveyed appeared to put the main responsibility for the preparation of financial statements on auditors.
Speaking at the Public Accountants Conference on Wednesday, Minister of State for Finance Josephine Teo said this suggests that poor preparation of financial statements stems from the lack of ownership of the quality of financial reporting by companies.
According to measures identified in the survey, companies should put greater emphasis on developing the resources needed for effective financial reporting. These include bringing on board qualified accountants, enhancing training and implementing suitable IT systems.
Meanwhile, ACRA is studying ways to further strengthen financial reporting.
These include making key office holders like CEOs and CFOs of listed companies legally liable for their companies' financial reports.
Currently, only directors have legal responsibility for the companies' financial statements.
Mrs Teo said: "The top management of a company has to set the tone right. They must also take ownership of putting in place the right systems and people to enable the preparation of accurate financial statements.
"High-quality financial reporting is part and parcel of good governance and is key to maintaining Singapore's competitive advantage as a trusted business environment."
- CNA/ms
- wong chee tat :)
Tuesday, July 16, 2013
SGX expecting healthy pipeline of IPOs for rest of 2013
SGX expecting healthy pipeline of IPOs for rest of 2013
By Linette Lim
POSTED: 16 Jul 2013 5:03 PM
The Singapore Exchange said it is looking at a healthy pipeline of initial public offerings for the rest of the year.
SINGAPORE: The Singapore Exchange (SGX) said it is looking at a healthy pipeline of initial public offerings (IPO) for the rest of the year.
Bankers said improving market sentiment is one key reason driving confidence among potential issuers.
OCBC said the most popular IPOs among investors will continue to be yield instruments like real estate investment trusts (REIT).
This is because interest rates are widely expected to remain low for this year at least.
Even as investors eagerly await the OUE and SPH Reit IPOs, SGX said there are listings from other business sectors coming on-stream.
Lawrence Wong, head of listings at SGX, said, explained: "Of course there are certain sectors that we are better at so we tend to attract more attention from these, like the offshore (companies), REITs and business trusts, our commodities and resources (listings). Now increasingly, we are seeing healthcare as well. In fact, the other trend we are bringing to see is actually consumer related."
- CNA/fa
- wong chee tat :)
By Linette Lim
POSTED: 16 Jul 2013 5:03 PM
The Singapore Exchange said it is looking at a healthy pipeline of initial public offerings for the rest of the year.
SINGAPORE: The Singapore Exchange (SGX) said it is looking at a healthy pipeline of initial public offerings (IPO) for the rest of the year.
Bankers said improving market sentiment is one key reason driving confidence among potential issuers.
OCBC said the most popular IPOs among investors will continue to be yield instruments like real estate investment trusts (REIT).
This is because interest rates are widely expected to remain low for this year at least.
Even as investors eagerly await the OUE and SPH Reit IPOs, SGX said there are listings from other business sectors coming on-stream.
Lawrence Wong, head of listings at SGX, said, explained: "Of course there are certain sectors that we are better at so we tend to attract more attention from these, like the offshore (companies), REITs and business trusts, our commodities and resources (listings). Now increasingly, we are seeing healthcare as well. In fact, the other trend we are bringing to see is actually consumer related."
- CNA/fa
- wong chee tat :)
Monday, July 1, 2013
Siemens sells its 50% stake in NSN to Nokia
Siemens sells its 50% stake in NSN to Nokia
POSTED: 01 Jul 2013 2:57 PM
UPDATED: 01 Jul 2013 4:00 PM
Finnish telecom equipment maker Nokia is buying the half stake owned by German engineering giant Siemens in their mobile broadband venture NSN for 1.7 billion euros, Nokia said on Monday.
BERLIN: Finnish telecom equipment maker Nokia is buying the half stake owned by German engineering giant Siemens in their mobile broadband venture NSN for 1.7 billion euros, Nokia said on Monday.
Nokia shares, which have fallen sharply recently reflecting a decline of Nokia's once-dominant position in making mobile phones, jumped 7.24 percent on the news.
Once the deal was concluded in the third quarter of 2013, "Nokia Siemens Networks will become a wholly owned subsidiary of Nokia", both companies said in a statement.
Siemens' decision to sell its stake comes as part of a strategic repositioning in the market: it announced in June it would shut down its loss-making solar energy unit after failing to find a buyer.
The NSN deal will allow Nokia, which has been subject to speculation it could be up for sale, to take full control of its most profitable business.
Once the star performer on the Helsinki stock exchange, Nokia has seen its market value plunge 30 percent in the past two years.
The firm reported a net loss in seven of the past eight quarters amid fierce competition from Apple's high-end iPhone and Samsung's Galaxy.
The NSN joint venture, which specialises in high-speed mobile broadband, was set up in 2007 and the partnership agreement expired in April.
Nokia said NSN would retain its headquarters in Espoo, Finland, and press on with its ongoing restructuring plan, which includes the closure of 16 sites in Germany, shedding 1,000 jobs.
The buy-out will see Siemens receiving 1.2 billion euros in cash at the closing of the transaction, the statement added. The remaining 500 million euros will be paid through a secured loan from Siemens due one year from closing.
Nokia said it had obtained bank financing for the cash portion.
- AFP/gn
- wong chee tat :)
POSTED: 01 Jul 2013 2:57 PM
UPDATED: 01 Jul 2013 4:00 PM
Finnish telecom equipment maker Nokia is buying the half stake owned by German engineering giant Siemens in their mobile broadband venture NSN for 1.7 billion euros, Nokia said on Monday.
BERLIN: Finnish telecom equipment maker Nokia is buying the half stake owned by German engineering giant Siemens in their mobile broadband venture NSN for 1.7 billion euros, Nokia said on Monday.
Nokia shares, which have fallen sharply recently reflecting a decline of Nokia's once-dominant position in making mobile phones, jumped 7.24 percent on the news.
Once the deal was concluded in the third quarter of 2013, "Nokia Siemens Networks will become a wholly owned subsidiary of Nokia", both companies said in a statement.
Siemens' decision to sell its stake comes as part of a strategic repositioning in the market: it announced in June it would shut down its loss-making solar energy unit after failing to find a buyer.
The NSN deal will allow Nokia, which has been subject to speculation it could be up for sale, to take full control of its most profitable business.
Once the star performer on the Helsinki stock exchange, Nokia has seen its market value plunge 30 percent in the past two years.
The firm reported a net loss in seven of the past eight quarters amid fierce competition from Apple's high-end iPhone and Samsung's Galaxy.
The NSN joint venture, which specialises in high-speed mobile broadband, was set up in 2007 and the partnership agreement expired in April.
Nokia said NSN would retain its headquarters in Espoo, Finland, and press on with its ongoing restructuring plan, which includes the closure of 16 sites in Germany, shedding 1,000 jobs.
The buy-out will see Siemens receiving 1.2 billion euros in cash at the closing of the transaction, the statement added. The remaining 500 million euros will be paid through a secured loan from Siemens due one year from closing.
Nokia said it had obtained bank financing for the cash portion.
- AFP/gn
- wong chee tat :)
Saturday, March 16, 2013
Singapore a test-bed for yuan products
Singapore a test-bed for yuan products
By Linette Lim | Posted: 15 March 2013 2218 hrs
SINGAPORE: Singapore's financial sector can be a test-bed for new yuan-linked products, according to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam who spoke at a banking industry forum on Friday.
The forum organised by the Financial Markets Association (ACI) was attended by over 700 delegates.
For instance, Mr Tharman said banks in Singapore can explore how to encourage offshore RMB bond issuance in Singapore with longer maturity tenors and different issuer profiles.
As the fourth largest foreign exchange trading centre in the world, Singapore can play an important role in integrating both the offshore yuan and Asian local currency markets.
This could be done through carrying out or booking trades in yuan or by developing yuan investment products.
He said: "While the US dollar will remain an integral global settlement currency, the renminbi (RMB) is likely to be increasingly used for trade denomination and contract pricing. As the (offshore RMB) market grows in multiple jurisdictions, regulators and market participants will have to work together to avoid fragmenting liquidity across markets and to promote efficiency in the offshore renminbi market."
While the yuan becomes increasingly important as a diversification currency for central banks and for trade among companies, the US dollar is seeing a gradual decline as an international reserve currency.
Still, experts said the dollar is likely to strengthen against other major currencies in the short to medium term.
Vice chairman of Blackrock, Philipp Hildebrand said: "Of course, we still have a current account deficit, but depending on what happens on the energy front, you can easily imagine the US moving into a current account surplus for the first time in decades, within a couple of years from now. Again that should be broadly supportive of the dollar."
So far, the US recovery is seen to be the firmest among the developed economies.
This could help reverse a long-term depreciation trend in the greenback that's been brought about by loose monetary policy.
Experts said out of the four major central banks, the Fed is most likely to discontinue monetary easing.
This could see global interest rates edging higher over the next few years.
- CNA/ck
- wong chee tat :)
By Linette Lim | Posted: 15 March 2013 2218 hrs
SINGAPORE: Singapore's financial sector can be a test-bed for new yuan-linked products, according to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam who spoke at a banking industry forum on Friday.
The forum organised by the Financial Markets Association (ACI) was attended by over 700 delegates.
For instance, Mr Tharman said banks in Singapore can explore how to encourage offshore RMB bond issuance in Singapore with longer maturity tenors and different issuer profiles.
As the fourth largest foreign exchange trading centre in the world, Singapore can play an important role in integrating both the offshore yuan and Asian local currency markets.
This could be done through carrying out or booking trades in yuan or by developing yuan investment products.
He said: "While the US dollar will remain an integral global settlement currency, the renminbi (RMB) is likely to be increasingly used for trade denomination and contract pricing. As the (offshore RMB) market grows in multiple jurisdictions, regulators and market participants will have to work together to avoid fragmenting liquidity across markets and to promote efficiency in the offshore renminbi market."
While the yuan becomes increasingly important as a diversification currency for central banks and for trade among companies, the US dollar is seeing a gradual decline as an international reserve currency.
Still, experts said the dollar is likely to strengthen against other major currencies in the short to medium term.
Vice chairman of Blackrock, Philipp Hildebrand said: "Of course, we still have a current account deficit, but depending on what happens on the energy front, you can easily imagine the US moving into a current account surplus for the first time in decades, within a couple of years from now. Again that should be broadly supportive of the dollar."
So far, the US recovery is seen to be the firmest among the developed economies.
This could help reverse a long-term depreciation trend in the greenback that's been brought about by loose monetary policy.
Experts said out of the four major central banks, the Fed is most likely to discontinue monetary easing.
This could see global interest rates edging higher over the next few years.
- CNA/ck
- wong chee tat :)
Tuesday, January 8, 2013
S'pore's financial sector to be assessed by IMF
S'pore's financial sector to be assessed by IMF
By Brandon Tanoto | Posted: 08 January 2013 1445 hrs
SINGAPORE: Singapore's financial sector is set to undergo a financial stability assessment.
The Monetary Authority of Singapore (MAS) announced on Tuesday that Singapore will participate in the International Monetary Fund's Financial Sector Assessment Programme (FSAP) in 2013.
Singapore last participated in the programme in 2004.
As an international financial centre, MAS said Singapore is committed to undergoing periodic financial stability assessments.
Under the programme, Singapore will be assessed against international standards for the banking, insurance and securities sector to benchmark itself to the prescribed standards.
Meanwhile, the assessment will also contribute to a deeper understanding of the stability and resilience of the financial sector.
MAS is currently working closely with the financial sector in preparation for the assessment.
The FSAP mission will visit Singapore in April and May for the standards and financial stability assessments.
-CNA/ac
- wong chee tat :)
By Brandon Tanoto | Posted: 08 January 2013 1445 hrs
SINGAPORE: Singapore's financial sector is set to undergo a financial stability assessment.
The Monetary Authority of Singapore (MAS) announced on Tuesday that Singapore will participate in the International Monetary Fund's Financial Sector Assessment Programme (FSAP) in 2013.
Singapore last participated in the programme in 2004.
As an international financial centre, MAS said Singapore is committed to undergoing periodic financial stability assessments.
Under the programme, Singapore will be assessed against international standards for the banking, insurance and securities sector to benchmark itself to the prescribed standards.
Meanwhile, the assessment will also contribute to a deeper understanding of the stability and resilience of the financial sector.
MAS is currently working closely with the financial sector in preparation for the assessment.
The FSAP mission will visit Singapore in April and May for the standards and financial stability assessments.
-CNA/ac
- wong chee tat :)
Wednesday, December 5, 2012
Islamic finance to surpass trillion-dollar mark in 2012: Tharman
Islamic finance to surpass trillion-dollar mark in 2012: Tharman
Posted: 04 December 2012 1651 hrs
JOHOR BAHRU: Islamic finance is poised to expand over the next 10 to 15 years after surpassing the trillion-dollar mark in 2012, said Minister for Finance Tharman Shanmugaratnam at the World Islamic Economic Forum in Johor Bahru, Malaysia.
Mr Tharman, who is also Singapore's Deputy Prime Minister, said that he was optimistic about the potential for the sector after it chalked up growth of about 19 per cent a year since 2006.
This has lifted total Shariah-compliant assets to nearly US$1.3 trillion in 2012.
However there is considerable scope for development since Islamic finance now forms less than 1 per cent of the global financial industry, said Mr Tharman.
Even in Muslim countries, Islamic finance constitutes less than 5 per cent of the financial sector, he added.
The minister also noted that Islamic financial institutions have mainly escaped significant damage from the global financial crisis.
"They are well-placed to grow at a time when many of the global banks, especially the European banks, are deleveraging or focusing on consolidating their balance sheets," said Mr Tharman.
He adds that Islamic finance has the potential to diversify into new growth areas such as trade and infrastructure financing in Asia and emerging markets.
This will allow Islamic banks to reduce their exposure to the real estate sector and take advantage of the stronger growth potential of the emerging market economies.
Another factor that can boost the growth potential of Islamic finance is its focus on transparency, price certainty and its risk-sharing framework.
Mr Tharman says Islamic finance can ride this wave of demand for simpler and more basic investments.
Yet, he also pointed out several challenges in the industry that need to be overcome to ensure continued growth.
Among them is the need to reduce fragmentation in Islamic finance markets due to differences in accepted standards of Shariah compliance.
"This has hampered the flow of liquidity between jurisdictions and is in part why there are presently no Islamic equivalents to the international monetary and bond markets."
The minister also touched on the need to manage capital flows in Asia and emerging market economies.
Excessive capital inflows can cause volatility, and it would be "wise to strengthen our policy toolkits in Asia, so that we can deal with unpredictable and often excessive capital flows," said Mr Tharman.
One of the policy responses is to curtail volatility in the exchange rate in the short term, he said.
Mr Tharman also pointed to macro-prudential policies such as property cooling measures to discourage speculative demand for residential properties.
"These targeted administrative and prudential measures are not conventional macroeconomic tools. But they are likely to remain part of our policy toolkit, at least for the foreseeable future."
The finance minister has also called for greater depth in Asia's capital markets, especially the corporate bond market.
"Broader and deeper capital markets will allow investors to invest for the long term while hedging risks," Mr Tharman said.
Separately, the minister also said that Singapore and Malaysia were happy with the progress of joint ventures on both sides of the Causeway.
The two countries will continue to take steps to improve connectivity, cross-border trade facilitation, and immigration processes, he said.
Mr Tharman also met Malaysian Prime Minister Najib Razak on the sidelines of the forum.
DPM Tharman said that bilateral relations between the two countries were well and that joint developments in Malaysia's Iskandar region, for example, will enhance the complementary space between both economies.
Prime Minister Najib expressed interest in moving ahead with discussions concerning the proposed high-speed rail link between both countries and also hoped for a joint launch of projects on both sides of the Causeway next year under the Points of Agreement with Singapore.
"There will, over time, also be increasing pressures on our smaller and medium-sized businesses because of shortage of labour in Singapore and shortage of land. And increasingly, they will assess where best to base their operations, particularly those that require more labour and more land. And Malaysia is of course, a very logical hop away, very easy in terms of operational flexibility and logistics," said Mr Tharman.
- CNA/jc
- wong chee tat :)
Posted: 04 December 2012 1651 hrs
JOHOR BAHRU: Islamic finance is poised to expand over the next 10 to 15 years after surpassing the trillion-dollar mark in 2012, said Minister for Finance Tharman Shanmugaratnam at the World Islamic Economic Forum in Johor Bahru, Malaysia.
Mr Tharman, who is also Singapore's Deputy Prime Minister, said that he was optimistic about the potential for the sector after it chalked up growth of about 19 per cent a year since 2006.
This has lifted total Shariah-compliant assets to nearly US$1.3 trillion in 2012.
However there is considerable scope for development since Islamic finance now forms less than 1 per cent of the global financial industry, said Mr Tharman.
Even in Muslim countries, Islamic finance constitutes less than 5 per cent of the financial sector, he added.
The minister also noted that Islamic financial institutions have mainly escaped significant damage from the global financial crisis.
"They are well-placed to grow at a time when many of the global banks, especially the European banks, are deleveraging or focusing on consolidating their balance sheets," said Mr Tharman.
He adds that Islamic finance has the potential to diversify into new growth areas such as trade and infrastructure financing in Asia and emerging markets.
This will allow Islamic banks to reduce their exposure to the real estate sector and take advantage of the stronger growth potential of the emerging market economies.
Another factor that can boost the growth potential of Islamic finance is its focus on transparency, price certainty and its risk-sharing framework.
Mr Tharman says Islamic finance can ride this wave of demand for simpler and more basic investments.
Yet, he also pointed out several challenges in the industry that need to be overcome to ensure continued growth.
Among them is the need to reduce fragmentation in Islamic finance markets due to differences in accepted standards of Shariah compliance.
"This has hampered the flow of liquidity between jurisdictions and is in part why there are presently no Islamic equivalents to the international monetary and bond markets."
The minister also touched on the need to manage capital flows in Asia and emerging market economies.
Excessive capital inflows can cause volatility, and it would be "wise to strengthen our policy toolkits in Asia, so that we can deal with unpredictable and often excessive capital flows," said Mr Tharman.
One of the policy responses is to curtail volatility in the exchange rate in the short term, he said.
Mr Tharman also pointed to macro-prudential policies such as property cooling measures to discourage speculative demand for residential properties.
"These targeted administrative and prudential measures are not conventional macroeconomic tools. But they are likely to remain part of our policy toolkit, at least for the foreseeable future."
The finance minister has also called for greater depth in Asia's capital markets, especially the corporate bond market.
"Broader and deeper capital markets will allow investors to invest for the long term while hedging risks," Mr Tharman said.
Separately, the minister also said that Singapore and Malaysia were happy with the progress of joint ventures on both sides of the Causeway.
The two countries will continue to take steps to improve connectivity, cross-border trade facilitation, and immigration processes, he said.
Mr Tharman also met Malaysian Prime Minister Najib Razak on the sidelines of the forum.
DPM Tharman said that bilateral relations between the two countries were well and that joint developments in Malaysia's Iskandar region, for example, will enhance the complementary space between both economies.
Prime Minister Najib expressed interest in moving ahead with discussions concerning the proposed high-speed rail link between both countries and also hoped for a joint launch of projects on both sides of the Causeway next year under the Points of Agreement with Singapore.
"There will, over time, also be increasing pressures on our smaller and medium-sized businesses because of shortage of labour in Singapore and shortage of land. And increasingly, they will assess where best to base their operations, particularly those that require more labour and more land. And Malaysia is of course, a very logical hop away, very easy in terms of operational flexibility and logistics," said Mr Tharman.
- CNA/jc
- wong chee tat :)
Tuesday, November 27, 2012
More public companies in the Philippines eyeing Singapore market for funds
More public companies in the Philippines eyeing Singapore market for funds
By Yvonne Chan | Posted: 26 November 2012 2334 hrs
SINGAPORE: More Filipino companies may be looking at the Singapore market to raise funds, with some eyeing a dual listing while others an initial public offering (IPO), say analysts.
Public companies in the Philippines that seek to list on the Singapore Exchange (SGX) usually do so to raise their profile and broaden their investor base.
Filipino food producer Alliance Select Foods International is seeking to list on Singapore's SGX-Catalist board in 2013, a move that will make it the first publicly-traded Filipino company to debut in Singapore.
Alliance Select Foods International was incorporated in 2003 and listed on the Philippines Stock Exchange in 2006, with Singapore investors forming its largest shareholders.
"Singapore is a regional hub for finance especially in ASEAN. We felt very strongly because of our strong Singapore based shareholders, we felt that it was natural for us to seek a dual listing here in Singapore," said Jonathan Dee, president and CEO of Alliance Select Foods International
"The interest rate in Singapore is (also) much lower than that of the Philippines… we chose the Catalist primarily because of our size. Our market cap today is 50 million dollars and so Catalist would fit perfectly with that," he added.
Experts also said that it was time for local investors to start looking at investment opportunities in the Philippine stock exchange, as the Filipino market gains attention in the international arena.
The Philippines' stock market is Asia's 12th largest with a market capitalisation of about US$212 billion.
"There are international investors, especially banks, which are actually overweight in the Philippines in terms of their Asia exposure, primarily because they see Philippines as a re-flation story," said Daryl Liew, head of Portfolio Management at Reyl.
"It's pretty much a domestic consumption play which is a pretty hot theme at this point in time. And actually if you look at the stock market performance, the Philippines stock market is probably the best stock market performance year to date," said Mr Liew.
"Last I checked it's up about 27 per cent, which is higher than the Thai stock market, the Indian stock market and the Hang Seng," he added.
Some public companies in the Philippines are already popular with international institutional investors.
Once the Philippines stock exchange is connected with the ASEAN trading link, analysts say these new linkages will help elevate its profile as well as increase retail investors' interest in Filipino public companies.
The ASEAN trading link comprises seven exchanges in six countries, with the Singapore Exchange and Bursa Malaysia being the first two exchanges to connect in September 2012. The stock exchange of Thailand followed suit on 15th October.
- CNA/jc
- wong chee tat :)
By Yvonne Chan | Posted: 26 November 2012 2334 hrs
SINGAPORE: More Filipino companies may be looking at the Singapore market to raise funds, with some eyeing a dual listing while others an initial public offering (IPO), say analysts.
Public companies in the Philippines that seek to list on the Singapore Exchange (SGX) usually do so to raise their profile and broaden their investor base.
Filipino food producer Alliance Select Foods International is seeking to list on Singapore's SGX-Catalist board in 2013, a move that will make it the first publicly-traded Filipino company to debut in Singapore.
Alliance Select Foods International was incorporated in 2003 and listed on the Philippines Stock Exchange in 2006, with Singapore investors forming its largest shareholders.
"Singapore is a regional hub for finance especially in ASEAN. We felt very strongly because of our strong Singapore based shareholders, we felt that it was natural for us to seek a dual listing here in Singapore," said Jonathan Dee, president and CEO of Alliance Select Foods International
"The interest rate in Singapore is (also) much lower than that of the Philippines… we chose the Catalist primarily because of our size. Our market cap today is 50 million dollars and so Catalist would fit perfectly with that," he added.
Experts also said that it was time for local investors to start looking at investment opportunities in the Philippine stock exchange, as the Filipino market gains attention in the international arena.
The Philippines' stock market is Asia's 12th largest with a market capitalisation of about US$212 billion.
"There are international investors, especially banks, which are actually overweight in the Philippines in terms of their Asia exposure, primarily because they see Philippines as a re-flation story," said Daryl Liew, head of Portfolio Management at Reyl.
"It's pretty much a domestic consumption play which is a pretty hot theme at this point in time. And actually if you look at the stock market performance, the Philippines stock market is probably the best stock market performance year to date," said Mr Liew.
"Last I checked it's up about 27 per cent, which is higher than the Thai stock market, the Indian stock market and the Hang Seng," he added.
Some public companies in the Philippines are already popular with international institutional investors.
Once the Philippines stock exchange is connected with the ASEAN trading link, analysts say these new linkages will help elevate its profile as well as increase retail investors' interest in Filipino public companies.
The ASEAN trading link comprises seven exchanges in six countries, with the Singapore Exchange and Bursa Malaysia being the first two exchanges to connect in September 2012. The stock exchange of Thailand followed suit on 15th October.
- CNA/jc
- wong chee tat :)
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