SMEs pessimistic about first half of 2017: Survey
Despite the overall pessimism, the SBF-DP SME Index recorded ‘modest optimism’ in expectations of business expansion, capital investment and hiring. TODAY file photo
ANGELA TENG
angelateng@mediacorp.com.sg PUBLISHED: 4:00 AM, DECEMBER 22, 2016UPDATED: 11:13 AM, DECEMBER 22, 2016
SINGAPORE — In an ominous sign for the new year, small and medium enterprises (SMEs) here are pessimistic about their prospects for the first half of next year, an industry index showed yesterday — the first time the quarterly survey showed such negative sentiments since it was started seven years ago.
Despite a better official forecast for Singapore’s economy next year compared to this year, business owners expect turnover and profitability to sour in the coming months, according to the Singapore Business Federation (SBF)-DP SME Index, which fell by 0.4 point to 49.8, compared with the survey conducted in the previous quarter. The index seeks to measure a six-monthly outlook among SMEs, with a reading of 50 and above indicating optimism. This was the first instance where the index fell below 50, indicating pessimism.
Association of Small and Medium Enterprises president Kurt Wee said the pessimism was “not a surprise”.
“It is reflective of the current business sentiment and mood. Businesses are tightening their belts and not expecting a recovery in demand,” he said. “Businesses also expect an increase in cost of (financing) while operation costs remain high. The bright side is businesses have been preparing in the last 18 months for this situation.”
The index, which surveyed more than 3,600 SMEs between October and last month, recorded declines in five out of six sectors, compared with the survey in the previous quarter. SMEs had a negative outlook in commerce/trading, construction/engineering, manufacturing, retail/food and beverage, as well as transport/storage. Only firms in business services had positive sentiments.
The SBF and DP said index scores for turnover and profitability expectations were both at “record lows”. SMEs expect their profits to fall, “indicating how reduced sales and high operational costs are compressing already-lean profit margins and driving many SMEs into losses”, they added.
SBF CEO Ho Meng Kit said SMEs are facing “challenging conditions” in the current economic situation. “This is in line with the slowing overall economy,” said Mr Ho, noting that the Ministry of Trade and Industry (MTI) had cut the top end of its full-year growth forecast for this year by half a percentage point. The economy is now expected to grow between 1 and 1.5 per cent for the whole of this year. For next year, the MTI forecasts gross domestic product to grow between 1 and 3 per cent.
Mr Ho said that recommendations will be put forward for the Government’s Budget next year to help SMEs “navigate the immediate challenges of high business costs”. “The recommendations will also focus on helping SMEs sustain growth particularly during this current economic climate, as well as support scalable, local-based enterprises to develop into globally competitive companies,” he said.
SME owners told TODAY that they are feeling the strain.
Mr Kegan Tan, a retailer selling sports goods, recently closed down his shop at Tampines Safra after sales plunged. “It could be due to the economy or the location. In order to guard against choppy waters, we closed the retail shop a month ago. The lease was expiring and we decided not to renew it even though it was affordable,” he said. His company is looking at focusing more on its online business and other strategies. “Despite the change in the business focus, we are still optimistic,” he said.
Despite the overall pessimism, the SBF-DP SME Index recorded “modest optimism” in expectations of business expansion, capital investment and hiring.
CIMB Private Banking economist Song Seng Wun said: “The economy is affected by uncertainties from abroad, with a very uneven performance for the sectors. However, all is not lost. We keep our fingers crossed on global growth as there are signs of us turning the corner to better exports. Perhaps the worst may be behind us.”
- wong chee tat :)
Showing posts with label risk. Show all posts
Showing posts with label risk. Show all posts
Thursday, December 22, 2016
Wednesday, December 21, 2016
Fewer Singapore employers plan to increase headcount next year: Survey
Fewer Singapore employers plan to increase headcount next year: Survey
PUBLISHED: 8:55 PM, DECEMBER 20, 2016 UPDATED: 12:22 PM, DECEMBER 21, 2016
SINGAPORE — Fewer companies in Singapore plan to increase headcount next year, initial findings from a survey showed on Tuesday (Dec 20), a reflection of the current uncertain economic climate.
According to a survey on 2017 employment trends by international recruitment consultancy Michael Page, about one in three employers in Singapore – or 36 per cent – plan to ramp up hiring next year, down from 49 per cent in the 2016 survey. Meanwhile, 57 per cent of companies indicated they plan to maintain headcount in 2017 while 7 per cent said they will cut staffing, the survey showed.
The survey underscores the challenges facing Singapore’s labour market amid slower gross domestic product growth at home and sluggish global economic conditions. The latest labour market report from the Ministry of Manpower released last week showed that total employment expanded by just 14,500 in the first nine months of this year, the slowest growth since the 2009 global financial crisis. Jobseekers also continued to outnumber the vacancies available for the second quarter in a row.
Michael Page’s 2017 Asia Salary & Employment Outlook survey contained responses from nearly 450 employers in Singapore across various industries. The full report - which will be launched in February - will also contain market insights and recruitment trends from more than 3,400 respondents in Asia.
The initial findings released on Tuesday showed that among those planning to increase headcount next year, six in 10 are looking to hire at middle management level. The majority of companies - 63 per cent - also said they plan to offer employees a 1 to 5 per cent salary increase, while 15 per cent said they do not plan a pay hike.
Hiring is expected to be dominated by the digital, technology and healthcare sectors.
“Digital, technology and healthcare are likely to be the country’s fastest-growing industries due to the Government’s pledged efforts to boost investment in these sectors. As a result, employers across these three sectors are likely to continue hiring actively, though recruitment efforts will largely focus on filling niche roles,” said Mr Anthony Thompson, regional managing director of Greater China, South East Asia & India at Michael Page.
These niche technical requirements, combined with requests from hiring managers for solid industry experience, are likely to result in fierce competition for a limited pool of talent next year, the report said.
Meanwhile, a separate survey by recruitment agency Randstad released on Tuesday showed that employees in Singapore were less optimistic than global peers about how their employers would perform financially next year.
About 56 per cent of employees in Singapore said they expect their employers to perform better financially in 2017, compared with the global average of 69 per cent, Randstad’s Workmonitor research report showed. This also compares with the 59 per cent in Hong Kong and 70 per cent in Malaysia.
“Retrenchments and hiring freezes as well as news of major global issues, such as Brexit and the US elections, have kept employees taking a more cautionary stance with regards to their expectations for the coming year,” said Mr Michael Smith, managing director for Randstad Singapore, Hong Kong and Malaysia.
- wong chee tat :)
PUBLISHED: 8:55 PM, DECEMBER 20, 2016 UPDATED: 12:22 PM, DECEMBER 21, 2016
SINGAPORE — Fewer companies in Singapore plan to increase headcount next year, initial findings from a survey showed on Tuesday (Dec 20), a reflection of the current uncertain economic climate.
According to a survey on 2017 employment trends by international recruitment consultancy Michael Page, about one in three employers in Singapore – or 36 per cent – plan to ramp up hiring next year, down from 49 per cent in the 2016 survey. Meanwhile, 57 per cent of companies indicated they plan to maintain headcount in 2017 while 7 per cent said they will cut staffing, the survey showed.
The survey underscores the challenges facing Singapore’s labour market amid slower gross domestic product growth at home and sluggish global economic conditions. The latest labour market report from the Ministry of Manpower released last week showed that total employment expanded by just 14,500 in the first nine months of this year, the slowest growth since the 2009 global financial crisis. Jobseekers also continued to outnumber the vacancies available for the second quarter in a row.
Michael Page’s 2017 Asia Salary & Employment Outlook survey contained responses from nearly 450 employers in Singapore across various industries. The full report - which will be launched in February - will also contain market insights and recruitment trends from more than 3,400 respondents in Asia.
The initial findings released on Tuesday showed that among those planning to increase headcount next year, six in 10 are looking to hire at middle management level. The majority of companies - 63 per cent - also said they plan to offer employees a 1 to 5 per cent salary increase, while 15 per cent said they do not plan a pay hike.
Hiring is expected to be dominated by the digital, technology and healthcare sectors.
“Digital, technology and healthcare are likely to be the country’s fastest-growing industries due to the Government’s pledged efforts to boost investment in these sectors. As a result, employers across these three sectors are likely to continue hiring actively, though recruitment efforts will largely focus on filling niche roles,” said Mr Anthony Thompson, regional managing director of Greater China, South East Asia & India at Michael Page.
These niche technical requirements, combined with requests from hiring managers for solid industry experience, are likely to result in fierce competition for a limited pool of talent next year, the report said.
Meanwhile, a separate survey by recruitment agency Randstad released on Tuesday showed that employees in Singapore were less optimistic than global peers about how their employers would perform financially next year.
About 56 per cent of employees in Singapore said they expect their employers to perform better financially in 2017, compared with the global average of 69 per cent, Randstad’s Workmonitor research report showed. This also compares with the 59 per cent in Hong Kong and 70 per cent in Malaysia.
“Retrenchments and hiring freezes as well as news of major global issues, such as Brexit and the US elections, have kept employees taking a more cautionary stance with regards to their expectations for the coming year,” said Mr Michael Smith, managing director for Randstad Singapore, Hong Kong and Malaysia.
- wong chee tat :)
Average of 5 cats found dead monthly after falling from a height: CWS
Average of 5 cats found dead monthly after falling from a height: CWS
Posted 21 Dec 2016 21:12 Updated 21 Dec 2016 21:24
A cat rescued from a ledge (Screengrab of video courtesy of Richard Ng)
SINGAPORE: An average of five cats are found dead in Singapore each month after falling from a height and most of these are pet cats, the Cat Welfare Society (CWS) said, stressing the importance of home owners meshing up windows to prevent such deaths.
Speaking to Channel NewsAsia on Wednesday (Dec 21), CWS committee member Veron Lau said the estimates are based on alerts sent to CWS, as well as from posts on social media.
About 95 per cent of the cats killed in such a manner are pet cats rather than community cats which roam around the estate and are taken care of by designated feeders, said CWS senior outreach manager Laura Ann Meranda. Typically, when a cat has fallen from a height, there will be blood around its mouth, wounds on its back, and its chest will be compressed in a certain manner, she added.
"We usually do not classify (such cases) as abuse unless there is a witness as it would be speculation, but blunt trauma at jaw and chest is usually ascertained to be fallen from height - thrown or otherwise," said Ms Lau.
Last week, a resident in Marsiling alleged that her pet cat was thrown from a block of flats, in a "senseless act of violence" by an unknown perpetrator. The Agri-Food and Veterinary Authority has said it is investigating.
CWS' Ms Meranda said generally, it is difficult to tell if a cat fell by itself, or was thrown from a high spot, but to find out if it was an act of menace, CWS will look at the location where the cat was found to see if it was near a block with a ledge or window, or if it has other wounds such as stab wounds or rope around its body parts.
DEALING WITH DEAD OR DISTRESSED CAT CASES
Typically, CWS finds out about these cases through members of the public who alert their town council when they find a dead cat in their estate. The town council gets in touch with CWS to get it removed, and the group's members will take photos and put up posters around the estate and post notices on social media to find the cat's owner - or feeder, if it is a community cat, Ms Meranda said.
Thereafter, the cat's caregiver will decide if the cat's body should be sent for an autopsy to determine its cause of death, or to get it cremated.
CWS said it strongly advocates keeping pet cats indoors and meshing up windows and gates, sharing video of a dramatic rescue of a cat which had fallen onto an apartment ledge.
Ms Lau told Channel NewsAsia that CWS frequently gets calls to help rescue cats and relies on contract trappers for assistance.
It also takes care to ensure that people who foster cats put up for adoption have properly meshed up windows in their homes. "The cats under foster care are usually placed in a cage because it's better to have them in a confined space before they get used to a larger space, but we normally walk the (people fostering) through the process of taking care of the cats and if they did not mesh up their windows, we will advise them to," she said.
- CNA/dl
- wong chee tat :)
Posted 21 Dec 2016 21:12 Updated 21 Dec 2016 21:24
A cat rescued from a ledge (Screengrab of video courtesy of Richard Ng)
SINGAPORE: An average of five cats are found dead in Singapore each month after falling from a height and most of these are pet cats, the Cat Welfare Society (CWS) said, stressing the importance of home owners meshing up windows to prevent such deaths.
Speaking to Channel NewsAsia on Wednesday (Dec 21), CWS committee member Veron Lau said the estimates are based on alerts sent to CWS, as well as from posts on social media.
About 95 per cent of the cats killed in such a manner are pet cats rather than community cats which roam around the estate and are taken care of by designated feeders, said CWS senior outreach manager Laura Ann Meranda. Typically, when a cat has fallen from a height, there will be blood around its mouth, wounds on its back, and its chest will be compressed in a certain manner, she added.
"We usually do not classify (such cases) as abuse unless there is a witness as it would be speculation, but blunt trauma at jaw and chest is usually ascertained to be fallen from height - thrown or otherwise," said Ms Lau.
Last week, a resident in Marsiling alleged that her pet cat was thrown from a block of flats, in a "senseless act of violence" by an unknown perpetrator. The Agri-Food and Veterinary Authority has said it is investigating.
CWS' Ms Meranda said generally, it is difficult to tell if a cat fell by itself, or was thrown from a high spot, but to find out if it was an act of menace, CWS will look at the location where the cat was found to see if it was near a block with a ledge or window, or if it has other wounds such as stab wounds or rope around its body parts.
DEALING WITH DEAD OR DISTRESSED CAT CASES
Typically, CWS finds out about these cases through members of the public who alert their town council when they find a dead cat in their estate. The town council gets in touch with CWS to get it removed, and the group's members will take photos and put up posters around the estate and post notices on social media to find the cat's owner - or feeder, if it is a community cat, Ms Meranda said.
Thereafter, the cat's caregiver will decide if the cat's body should be sent for an autopsy to determine its cause of death, or to get it cremated.
CWS said it strongly advocates keeping pet cats indoors and meshing up windows and gates, sharing video of a dramatic rescue of a cat which had fallen onto an apartment ledge.
Ms Lau told Channel NewsAsia that CWS frequently gets calls to help rescue cats and relies on contract trappers for assistance.
It also takes care to ensure that people who foster cats put up for adoption have properly meshed up windows in their homes. "The cats under foster care are usually placed in a cage because it's better to have them in a confined space before they get used to a larger space, but we normally walk the (people fostering) through the process of taking care of the cats and if they did not mesh up their windows, we will advise them to," she said.
- CNA/dl
- wong chee tat :)
Dog Befriends Disabled Kitten
Feeling sad for the kitty. Hopefully the kitty is healthy and happy.
Be Strong, Kitty!
- wong chee tat :)
Tuesday, December 20, 2016
Cat found dead at Marsiling block in case of alleged abuse
Cat found dead at Marsiling block in case of alleged abuse
Posted 19 Dec 2016 20:33 Updated 20 Dec 2016 00:53
SINGAPORE: The Agri-Food and Veterinary Authority of Singapore (AVA) is looking into a case of a cat that was found dead at the foot of a block in Marsiling on Friday evening.
Nur Irdhawany, 22, posted photos on Twitter of the white cat at the foot of Block 217, Marsiling Crescent, saying that her cat had died in a "senseless act of violence".
The cat, named Casper, had been a day shy of turning eight months old, the part-time student told Channel NewsAsia on Monday (Dec 19). The cat was allowed to roam around the block from 7pm each day and would usually return by 8pm. On Friday night however, Casper had not returned home by 9.15pm, she said.
It was Ms Irdhawany's sisters who later found Casper's body. "My mum had already rushed down before (I did). She called the police while I tried to feel for Casper's heartbeat," she said.
"I know someone threw him down because he didn't know how to climb or jump."
Casper was found at the foot of Block 217 Marsiling Crescent on Friday night. (Photo: @NurIrdhawany/Twitter)
"It's heartbreaking because he really is very harmless and a lot of people around my neighbourhood recognise him," Ms Irdhawany added.
Besides Casper, Ms Irdhawany said the family has two other cats, Casper's mother, and its sibling. In her photos, Casper's mother was seen sitting beside the dead cat before it was taken away.
"There are a lot of cat carers in my area (who) feed stray cats, so I felt safe in letting them roam around a little," said Ms Irdhawany, adding that a neighbour living on the block's seventh floor had seen Casper playing with their slippers at 7pm.
She added that her family has made a police report.
In response to queries by Channel NewsAsia, a spokesperson said that AVA is aware of the case and is looking into it.
Cat Welfare Society spokesperson Veron Lau told Channel NewsAsia that the case appeared similar to another that occurred earlier this month, in which a cat was reportedly found dead on the doorstep of a flat, also in Marsiling.
Ms Lau said that both cats were suspected to have fallen from heights.
She added that while the Cat Welfare Society was aware of the case, no one has come forward to report it, which meant that a case cannot be properly investigated. "This is one of the issues we face in ascertaining if an abuse case reported online is genuine," she said.
However, she said that the phenomenon of cats falling from a height "is very real" and that the Cat Welfare Society receives reports of about five cats falling from heights each month.
- CNA/dl
- wong chee tat :)
Posted 19 Dec 2016 20:33 Updated 20 Dec 2016 00:53
SINGAPORE: The Agri-Food and Veterinary Authority of Singapore (AVA) is looking into a case of a cat that was found dead at the foot of a block in Marsiling on Friday evening.
Nur Irdhawany, 22, posted photos on Twitter of the white cat at the foot of Block 217, Marsiling Crescent, saying that her cat had died in a "senseless act of violence".
The cat, named Casper, had been a day shy of turning eight months old, the part-time student told Channel NewsAsia on Monday (Dec 19). The cat was allowed to roam around the block from 7pm each day and would usually return by 8pm. On Friday night however, Casper had not returned home by 9.15pm, she said.
It was Ms Irdhawany's sisters who later found Casper's body. "My mum had already rushed down before (I did). She called the police while I tried to feel for Casper's heartbeat," she said.
"I know someone threw him down because he didn't know how to climb or jump."
Casper was found at the foot of Block 217 Marsiling Crescent on Friday night. (Photo: @NurIrdhawany/Twitter)
"It's heartbreaking because he really is very harmless and a lot of people around my neighbourhood recognise him," Ms Irdhawany added.
Besides Casper, Ms Irdhawany said the family has two other cats, Casper's mother, and its sibling. In her photos, Casper's mother was seen sitting beside the dead cat before it was taken away.
"There are a lot of cat carers in my area (who) feed stray cats, so I felt safe in letting them roam around a little," said Ms Irdhawany, adding that a neighbour living on the block's seventh floor had seen Casper playing with their slippers at 7pm.
She added that her family has made a police report.
In response to queries by Channel NewsAsia, a spokesperson said that AVA is aware of the case and is looking into it.
Cat Welfare Society spokesperson Veron Lau told Channel NewsAsia that the case appeared similar to another that occurred earlier this month, in which a cat was reportedly found dead on the doorstep of a flat, also in Marsiling.
Ms Lau said that both cats were suspected to have fallen from heights.
She added that while the Cat Welfare Society was aware of the case, no one has come forward to report it, which meant that a case cannot be properly investigated. "This is one of the issues we face in ascertaining if an abuse case reported online is genuine," she said.
However, she said that the phenomenon of cats falling from a height "is very real" and that the Cat Welfare Society receives reports of about five cats falling from heights each month.
- CNA/dl
- wong chee tat :)
Friday, December 16, 2016
Police warn of online binary option trading scams; more than S$1m lost to date
Police warn of online binary option trading scams; more than S$1m lost to date
Posted 15 Dec 2016 00:40 Updated 15 Dec 2016 01:00
File photo: A man uses a laptop computer. (AFP/Frederic J Brown)
SINGAPORE: There has been a "sharp rise" in scams involving online trading in binary options, said the police on Wednesday (Dec 14), with more than 30 reports of such scams lodged to date, and investors losing more than S$1 million to unregulated binary options trading platforms.
Most of these investors are mostly local males aged between 31 and 50, and include finance professionals as well as retirees, police added in a media statement.
Police warned that binary options trading is attractive as it sounds simple and the option providers or platforms often promise high, quick and safe returns.
In reality, binary options are speculative and risky, and many online platforms offering binary options trading are fraudulent, police said.
They said: "Encouraged by initial profits and promises made by the platform staff about financial advice, more bonuses and attractive rewards, most of the investors found it difficult to stop at one small investment and will put in more money.
"In these cases, the investors either lost all their money or could not withdraw the balances in their accounts. Some also had unauthorised withdrawals made using their debit or credit cards after (handing) over their card details for payment."
ALL OR NOTHING
In explaining how binary options work, the police warned that the risk of losing one's entire investment is high, because it is difficult to predict short-term price movements correctly.
Traders try to predict whether the price of the underlying asset will be above or below a specified price at a specified point in time. This can range from a few minutes to a few months in the future.
Traders get a fixed pay-off if their prediction is correct, but lose their entire investment if they are wrong.
"That is why binary options are often also called 'all or nothing' options," said police.
"It is difficult to make the correct prediction, especially when the time to expiry of the binary option is short. Due to the short time frame, it is very likely that you cannot change your prediction or re-sell your option once you make your investment. This makes it extremely easy to lose your entire investment."
Police added that most of the binary options trading platforms encountered are usually unregulated entities based outside Singapore.
The three most common places that they claim to be operating from are the United Kingdom, Cyprus and Hong Kong, and victims usually face difficulties contacting the foreign operators when things go wrong, said police.
THINKING OF TRYING BINARY OPTIONS TRADING?
In their statement, police offered the following advice for prospective traders in binary options:
Even when offered by legitimate sellers, binary options trading is a high risk investment where you can easily lose all that you invest.
Investments which promise high returns usually come with high risks. Think carefully before making the investment. When in doubt, seek professional advice before engaging in any investment products.
Dealing with unregulated entities mean you may have very little recourse if things go wrong. Check the list of capital markets services licence holders and the list of licensed commodity brokers to find out which entities are regulated in Singapore.
Some binary options offered by that regulated entity may not be regulated. This means that you may have minimal recourse if things go wrong.
Be wary of third party reviews, endorsements or success stories of binary option providers. These reviews and endorsements may have been paid for by the binary option providers.
Be cautious of high pressure sales tactics used by representatives of binary option providers. These tactics include promises of quality financial advice or easy profits.
Be careful when sending money to overseas bank accounts via fund transfers, debit/credit card payments and any other modes of payment. Always ensure that the end recipient is reliable before making any transfers or payments.
- CNA/xk
- wong chee tat :)
Posted 15 Dec 2016 00:40 Updated 15 Dec 2016 01:00
File photo: A man uses a laptop computer. (AFP/Frederic J Brown)
SINGAPORE: There has been a "sharp rise" in scams involving online trading in binary options, said the police on Wednesday (Dec 14), with more than 30 reports of such scams lodged to date, and investors losing more than S$1 million to unregulated binary options trading platforms.
Most of these investors are mostly local males aged between 31 and 50, and include finance professionals as well as retirees, police added in a media statement.
Police warned that binary options trading is attractive as it sounds simple and the option providers or platforms often promise high, quick and safe returns.
In reality, binary options are speculative and risky, and many online platforms offering binary options trading are fraudulent, police said.
They said: "Encouraged by initial profits and promises made by the platform staff about financial advice, more bonuses and attractive rewards, most of the investors found it difficult to stop at one small investment and will put in more money.
"In these cases, the investors either lost all their money or could not withdraw the balances in their accounts. Some also had unauthorised withdrawals made using their debit or credit cards after (handing) over their card details for payment."
ALL OR NOTHING
In explaining how binary options work, the police warned that the risk of losing one's entire investment is high, because it is difficult to predict short-term price movements correctly.
Traders try to predict whether the price of the underlying asset will be above or below a specified price at a specified point in time. This can range from a few minutes to a few months in the future.
Traders get a fixed pay-off if their prediction is correct, but lose their entire investment if they are wrong.
"That is why binary options are often also called 'all or nothing' options," said police.
"It is difficult to make the correct prediction, especially when the time to expiry of the binary option is short. Due to the short time frame, it is very likely that you cannot change your prediction or re-sell your option once you make your investment. This makes it extremely easy to lose your entire investment."
Police added that most of the binary options trading platforms encountered are usually unregulated entities based outside Singapore.
The three most common places that they claim to be operating from are the United Kingdom, Cyprus and Hong Kong, and victims usually face difficulties contacting the foreign operators when things go wrong, said police.
THINKING OF TRYING BINARY OPTIONS TRADING?
In their statement, police offered the following advice for prospective traders in binary options:
Even when offered by legitimate sellers, binary options trading is a high risk investment where you can easily lose all that you invest.
Investments which promise high returns usually come with high risks. Think carefully before making the investment. When in doubt, seek professional advice before engaging in any investment products.
Dealing with unregulated entities mean you may have very little recourse if things go wrong. Check the list of capital markets services licence holders and the list of licensed commodity brokers to find out which entities are regulated in Singapore.
Some binary options offered by that regulated entity may not be regulated. This means that you may have minimal recourse if things go wrong.
Be wary of third party reviews, endorsements or success stories of binary option providers. These reviews and endorsements may have been paid for by the binary option providers.
Be cautious of high pressure sales tactics used by representatives of binary option providers. These tactics include promises of quality financial advice or easy profits.
Be careful when sending money to overseas bank accounts via fund transfers, debit/credit card payments and any other modes of payment. Always ensure that the end recipient is reliable before making any transfers or payments.
- CNA/xk
- wong chee tat :)
Man charged with abusing, killing cat in Tampines
Man charged with abusing, killing cat in Tampines
Posted 14 Dec 2016 15:50 Updated 14 Dec 2016 22:03
The grey cat which was found dead at Block 884 Tampines Street 83. (Photo: Jaslynn Ong)
SINGAPORE: A 25-year-old Singaporean man was charged on Wednesday (Dec 14) for two counts of animal cruelty, after he allegedly caused the death of a cat in Tampines.
Fajar Ashraf Fajar Ali is accused of throwing the cat down six storeys from Block 884, Tampines Street 83 at about 1.40am on May 26. Nearly an hour later, at 2.30am, Fajar allegedly slammed the cat’s body on the ground twice.
A witness said Fajar had also burned the cat with a lighter.
The grey feline was found dead at the block with blood oozing from its mouth, according to the Cat Welfare Society.
Fajar was arrested on May 31. In court on Wednesday, he said he would plead guilty to the two charges on Jan 9.
Channel NewsAsia understands that Fajar works as a bar supervisor.
Under the Animals and Birds Act, first-time offenders found guilty of animal cruelty can be fined up to S$15,000, jailed up to 18 months, or both. For subsequent offences, the maximum fine is S$30,000 or a jail term of up to three years, or both.
- CNA/mz
- wong chee tat :)
Posted 14 Dec 2016 15:50 Updated 14 Dec 2016 22:03
The grey cat which was found dead at Block 884 Tampines Street 83. (Photo: Jaslynn Ong)
SINGAPORE: A 25-year-old Singaporean man was charged on Wednesday (Dec 14) for two counts of animal cruelty, after he allegedly caused the death of a cat in Tampines.
Fajar Ashraf Fajar Ali is accused of throwing the cat down six storeys from Block 884, Tampines Street 83 at about 1.40am on May 26. Nearly an hour later, at 2.30am, Fajar allegedly slammed the cat’s body on the ground twice.
A witness said Fajar had also burned the cat with a lighter.
The grey feline was found dead at the block with blood oozing from its mouth, according to the Cat Welfare Society.
Fajar was arrested on May 31. In court on Wednesday, he said he would plead guilty to the two charges on Jan 9.
Channel NewsAsia understands that Fajar works as a bar supervisor.
Under the Animals and Birds Act, first-time offenders found guilty of animal cruelty can be fined up to S$15,000, jailed up to 18 months, or both. For subsequent offences, the maximum fine is S$30,000 or a jail term of up to three years, or both.
- CNA/mz
- 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 :)
Wednesday, October 23, 2013
ECB says stress tests of 124 eurozone banks begin next month
ECB says stress tests of 124 eurozone banks begin next month
POSTED: 23 Oct 2013 19:45
The European Central Bank said on Wednesday it will start next month to "stress-test" and examine the balance sheets of 124 eurozone banks in advance of assuming its supervisory role.
FRANKFURT: The European Central Bank said on Wednesday it will start next month to "stress-test" and examine the balance sheets of 124 eurozone banks in advance of assuming its supervisory role.
"The assessment will commence in November 2013 and will take 12 months to complete," the ECB said in a statement.
It will be carried out together with national authorities and supported by an external consulting firm, it said.
The "comprehensive assessment" will look at "key risks", review the quality of bank assets and include "a stress test to examine the resilience of banks' balance sheets to stress scenarios".
Aside from building transparency and taking any necessary corrective actions, the exercise aims at "confidence building" and "to assure all stakeholders that banks are fundamentally sound and trustworthy".
"A single comprehensive assessment, uniformly applied to all significant banks, accounting for about 85 percent of the euro area banking system, is an important step forward for Europe and for the future of the euro area economy," ECB president Mario Draghi said in a statement.
"Transparency will be its primary objective. We expect that this assessment will strengthen private sector confidence in the soundness of euro area banks and in the quality of their balance sheets."
This outcome will be published before the ECB assumes its supervisory role of eurozone banks in November 2014.
- AFP/al
- wong chee tat :)
POSTED: 23 Oct 2013 19:45
The European Central Bank said on Wednesday it will start next month to "stress-test" and examine the balance sheets of 124 eurozone banks in advance of assuming its supervisory role.
FRANKFURT: The European Central Bank said on Wednesday it will start next month to "stress-test" and examine the balance sheets of 124 eurozone banks in advance of assuming its supervisory role.
"The assessment will commence in November 2013 and will take 12 months to complete," the ECB said in a statement.
It will be carried out together with national authorities and supported by an external consulting firm, it said.
The "comprehensive assessment" will look at "key risks", review the quality of bank assets and include "a stress test to examine the resilience of banks' balance sheets to stress scenarios".
Aside from building transparency and taking any necessary corrective actions, the exercise aims at "confidence building" and "to assure all stakeholders that banks are fundamentally sound and trustworthy".
"A single comprehensive assessment, uniformly applied to all significant banks, accounting for about 85 percent of the euro area banking system, is an important step forward for Europe and for the future of the euro area economy," ECB president Mario Draghi said in a statement.
"Transparency will be its primary objective. We expect that this assessment will strengthen private sector confidence in the soundness of euro area banks and in the quality of their balance sheets."
This outcome will be published before the ECB assumes its supervisory role of eurozone banks in November 2014.
- AFP/al
- wong chee tat :)
Friday, August 9, 2013
Monday, March 18, 2013
Increasing use of debt by Reits pose risks to sector: Fitch
Increasing use of debt by Reits pose risks to sector: Fitch
Posted: 18 March 2013 1917 hrs
SINGAPORE : The increasing use of debt, or leverage, in Singapore Real Estate Investment Trust (S-Reit) funding mixes could pose risks to the sector, said Fitch Ratings.
According to a report on the S-Reit sector by the ratings agency, these risks include refinancing risk and exposure to interest-rate shocks.
Fitch added that "the competition for assets that results from the use of leverage will put downward pressure on underlying asset yields and further exacerbate this trend".
This increasing use of leverage is fuelled by the availability of low-cost debt and the demand for dividend distributions in a low-yield environment.
Fitch expects the operating risk profile of the S-Reit sector to remain stable over the next few years, citing stringent regulation by the Monetary Authority of Singapore.
MAS requires 75 percent of S-Reit portfolios to be income generating.
The sector's revenues and profitability are also "are underpinned by the strong economic fundamentals of Singapore".
However, Fitch noted that the rapid pace of new supply and planned supply is outstripping the demand for space.
This could raise vacancy levels and, lower asset yields, and increase the risk profile of S-Reits in 2013.
- CNA/ch
- wong chee tat :)
Posted: 18 March 2013 1917 hrs
SINGAPORE : The increasing use of debt, or leverage, in Singapore Real Estate Investment Trust (S-Reit) funding mixes could pose risks to the sector, said Fitch Ratings.
According to a report on the S-Reit sector by the ratings agency, these risks include refinancing risk and exposure to interest-rate shocks.
Fitch added that "the competition for assets that results from the use of leverage will put downward pressure on underlying asset yields and further exacerbate this trend".
This increasing use of leverage is fuelled by the availability of low-cost debt and the demand for dividend distributions in a low-yield environment.
Fitch expects the operating risk profile of the S-Reit sector to remain stable over the next few years, citing stringent regulation by the Monetary Authority of Singapore.
MAS requires 75 percent of S-Reit portfolios to be income generating.
The sector's revenues and profitability are also "are underpinned by the strong economic fundamentals of Singapore".
However, Fitch noted that the rapid pace of new supply and planned supply is outstripping the demand for space.
This could raise vacancy levels and, lower asset yields, and increase the risk profile of S-Reits in 2013.
- CNA/ch
- wong chee tat :)
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