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Retiree sues UOB over high-risk investment losses
He loses $350k, says risks not explained; bank denies his claims.
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SM says misled buyers will get fair deal
He assures such investors that MAS will ensure financial institutions provide recourse.
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DPM: Strong Govt will pull S'pore through difficult times
He is confident that Singaporeans can weather through this difficult time together. -AsiaOne
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Even scrap collector's income plummets
How people elsewhere around Asia are affected by the economic turmoil. |
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Double whammy hits travel agent hard
How people elsewhere around Asia are affected by the economic turmoil.
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Retiree loses life savings in market crash
How people elsewhere around Asia are affected by the economic turmoil. |
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He lost 1 1/2 years worth of pay in stock woes
How people elsewhere around Asia are affected by the economic turmoil.
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Missionary forced to ditch US study plan
How people elsewhere around Asia are affected by the economic turmoil. |
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Voices from the crisis
How people elsewhere around Asia are affected by the economic turmoil.
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Fourth rally draws 500-strong crowd
Rally at Hong Lim Park still draws hundreds to hear Mr Tan Kin Lian speak. |
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Debt agents calling on more credit card users
It indicates more people are unable to meet payments as crisis worsens.
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Hong Leong starts repaying elderly investors
Fifty elderly the first to get back their money from Lehman Minibonds invesments. |
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DBS rapped for slow response
Some investors are unhappy that bank takes weeks to reply.
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How the world deals with recession
The West axe jobs, while the East cut pays to retain workers. |
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Citi offers global overdraft facility to select clients
Property owners can now manage the mortages of multiple residences from one combined statement. -myp
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SGX to introduce new equity product in January
Extended settlement contract, effectively allows investors to bet on price movements in underlying stock prices for up to 38 days.
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Maybank's Minibond customers hold meeting
Over 100 meet to discuss options in closed door session.
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Use town-council funds for safe investments
Should town councils use public funds for such risky investments like the Lehman Brothers-linked Minibonds?
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Couple sue UBS for forex losses
Indonesians claim they lost $12.7m on trades in currency derivatives.
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Workshops to cope with tough economic times
South West CDC holds first financial education workshop for low-income families tomorrow. -AsiaOne
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DBS to axe 900 staff
Chief executive Richard Stanley said most of the cuts, to be carried out at the end of the month, will come from its offices in Singapore and Hong Kong and will account for six percent of the workforce.
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DBS will do the right thing: CEO
When bank sold High Notes, 'the world was a vastly different place'. |
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'I was victim of mis-selling by own brother'
But brother says: He knew of investment risks.
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Smart spending to save your $
Here are some moneysaving tips to help you through the current recessionary days. |
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Couple sue UBS for forex losses
Indonesians claim they lost $12.7m on trades in currency derivatives.
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Less hard selling, more sound advice
Simpler financial products more preferred for now. |
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MAS active in looking after investors' interests: SM
MAS gives assurance that investors involved in troubled structured products have not been forgotten.
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More giving up luxury timepieces
High-fliers strapped for cash flocking to second-hand dealers. |
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Golf memberships at 18-mth low
Industry leaders believe that bottom is still to come.
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Crash means cash
Bad times mean good times for some retailers. Just ask the second-hand goods stores now doing brisk business. |
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What the Monetary Authority of Singapore says
Financial advisors must collect client information before decided he is suitable for investment.
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When times are tough... go indulge
Singaporeans are doing just that, splurging on 'little treats' like premium foods and wine. |
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Brisk sales for used gold jewellery
Savvy small-time investors snapping up gold at low prices.
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Staff gets $778,000 'champagne break'
The Halifax/Bank of Scotland (HBOS), Britain's biggest mortgage lender, was a beneficiary of a 11.5 billion pound ($27b) bailout by the government to get over the credit crisis - but they still partied hard, to the tune of $778,000. |
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PM: Financial crisis a chance for Islamic banking to shine
After the crisis, observers were considering the Islamic system with envy and respect as it prohibited speculative excesses.
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'A government-linked bank has set the tone.'
DBS layoffs: Despite recent govt appeals to employers to restrain themselves from retrenching employees, a govt-linked bank has just set the tone for more massive layoffs. -ST
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Insurers urged to raise benefits
The Life Insurance Association (LIA) of Singapore urged insurers to raise benefits of their integrated shield plans.
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Interest rates fall to five-year low
3-month Sibor plunges to 0.89%; borrowers may gain, savers may be hit.
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Life will get tougher but S'poreans confident Govt can handle crisis
Survey shows majority of Singaporeans expressing full trust in Government. -myp
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How two young S'poreans are coping
Two young professionals cutting back and living frugally to deal with the recession. -myp |
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Financial storm hits home
Respondents are cutting down on their expenses, but most have faith in Government's ability to tackle crisis. -myp
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DBS overhauls sales tactics
Customers will be asked tough questions before investing, says chairman. |
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We've taken a hit but we will overcome
DBS chairman says crisis will spark changes to the way the bank operates.
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DBS prefers to promote from within
Promoting the company's people from within replaces flying in outside talent for top brass. |
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Giro charges - various factors are involved
Issues with Giro payment explained by Ong-Ang Ai Boon.
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Clearer picture of Minibonds soon, says MAS
Trustee asked to tell noteholders by end- Nov if restructuring is still viable option. |
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Preserving the value of Minibonds
Trustee ends swap agreements for some note series, reducing risk. -ST
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US dollar falls in Asia
Most dealers predicted that the dollar would stay under pressure next week. -AFP
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Bad news for Pinnacle buyers
Notes Series 9 and 10 collapse, investors set to lose entire principal.
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Help! 'Sandwiched' middle class needs tax relief
Any cut will benefit only about 30 per cent of Singaporeans. |
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Credit-linked notes may be worthless
Firm sent out letters hinting at 'mandatory redemption'.
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SGX to build up penalties for 'naked' short-selling
Traders going naked short will be fined for failure to deliver shares. |
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Short-term US$ deposits getting...
Analysts say market flooded with greenback after big cash injections.
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Lender of last resort gets more cases now
They get calls mostly from people looking to quickly pay off credit card debts. |
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Govt help for workers, companies 'this week'
More measures will be in Budget '09 which will be brought forward to January, says PM.
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Crisis hurts tiny loans
It will impact poor people who have no other access to finance. -Reuters
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Govt help for workers and firms this week, says PM Lee
Govt financing schemes will be enhanced to ensure that businesses have continued access to credit. -myp
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CPF interest rate & HDB mortgage rate from Jan to Mar 2009
Both will remain unchanged. -AsiaOne
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Bargain-hunting investors return to stock market
Interest up after lows of last month, but experts warn this may not last.
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Investors' fears confirmed - Pinnacle 9 and 10 notes now worthless
Another financial structured product is seeing its value go down to zero. |
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$12m in troubled products
Two town councils invested in Lehman and Morgan Stanley.
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Match investors' needs
Finance minister says institutions must include clearer risk labels linked to the investments.
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CPF interest stays at 2.5%
Board says computed interest rate works out to 0.74% per annum, but it will pay higher rate due to CPF Act. -ST
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Must I shout louder to talk?
Govt should listen, before finding a suitable solution. |
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2 town councils invested $12m in troubled products
Town councils can invest up to 35 per cent of their sinking funds.
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Minister assures MPs: Mis-selling probe is independent
MAS approach will lead to a fair outcome for investors, says Tharman.
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Town councils' exposure: $16m
Another $3m invested in Pinnacle Notes Series 6 could be at risk.
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'I earn only $2 to $3 a day'
Scrap-metal dealer Lau Kwan Chu does not know what the word 'sub-prime' means. However, he does know that the economic slowdown has caused his income to plummet drastically. -TNP |
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Five statutory boards bought credit-linked notes
Singapore's central bank and financial regulator, MAS, was among five statutory boards that invested in complicated credit-linked notes. -ST
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14% paper loss for 4 stat boards' investment
Investments are not related to bankrupt United States investment bank Lehman Brothers.
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Will Australia dodge a recession?
Australians are turning to unofficial indicators to find out if the country would avoid a recession. -Reuters
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Should they invest in credit-linked notes?
With news of town councils' and statutory boards' investments in these credit-linked products, the AsiaOne forum has been abuzz. -AsiaOne |
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Job woes deepen credit-card debts
More seeking credit counselling as incomes start to fall in recession.
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Bill offers lifeline to those facing bankruptcy
Debts of up to $100,000 will be given up to five years to repay amount. |
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'You can blame them only with hindsight'
Reacting to news that two town councils had sunk about $12 million into Lehman-linked structured products. Financial expert, MPs say pointing finger at town councils not appropriate. -TNP
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FAQ: How do town councils invest
Answers based on speech by Senior Minister of State (National Development and Education) Grace Fu. -TNP
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Councils' loss sparks questions
The troubling news throws up some queries which need to be answered.
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Earlier gains do not reduce impact of town council's $8-million loss
If nothing is done, what will prevent the council from making bigger losses in the future?
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Singapore's consumer confidence hits all time low
Survey sheds light on how Singaporeans are managing this downturn. -AsiaOne
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Consumer confidence falls in Asia
India tops in consumer confidence and Korea dips to a low of 36 points. -AsiaOne |
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14% loss not so different from global situation
Here's what transpired, based on Finance Minister Tharman Shanmugaratnam's speech and an e-mail response by a Ministry of Finance spokesman. -TNP
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Woman, 92, sues bank for freezing her $8.9 million
OCBC says client 'does not have mental capacity' to make financial decisions. -TNP |
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Two town councils reviewing investments
Pasir Ris-Punggol and Tampines rethink their best options. -ST
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Indians the most optimistic, South Koreans the most pessimistic
India takes top spot with consumer confidence index at 114 points, while South Korea is at the bottom with 36 points. -myp |
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S'poreans consumers relatively upbeat
Despite recession, they are more willing to spend than most people in Asia-Pacific region. -myp
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Income: Couple only ones to hit trigger point
Their failure to cooperate made things difficult: insurer.
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Falling prices scuttle couple's reverse loan
Plan was to unlock value of semi-D home & get cash every month. But now they are forced to sell & repay balance of loan.
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Town council responsibility where it really counts
Measuring performance in civic role more important than scrutinizing the losses in structured products. |
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S'poreans look to bargains, extra income
Two-thirds plan to save with discounts; half aim to earn more: Survey.
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Stressed Australian bankers shun the pub for the pool
Sports is their new way to cope. -Reuters
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Same price, but smaller size
Manufacturers downsize products while keeping prices constant. Changes clearly stated on packaging, companies say.
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It's a 'buyer beware' world
The same price can now give us less - but we have a choice.
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Just be open about it
Downsizing is okay - if you come clean with consumers.
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Not to delete but to eat
Sales of the American version of the luncheon meat, known as Spam, is rising as the economy sinks. |
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Borrowers like them protected in US, Australia
With such protection, those taking reverse mortgages in these countries are unlikely to be in the same situation as an elderly couple here.
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Next victim of financial crisis? The mistress
More than 80 per cent of multi-millionaires who had extra-marital lovers planned to cut back on their gifts and allowances. |
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OCBC launches iPhone banking
More are using OCBS's mobile banking service, with 100 per cent year on year growth.
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Town council says its finances are solid
Sink fund has grown over the years because of good returns on investment and management.
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Fewer expats in town
Moving firms say more are seeking their services to relocate out of S'pore. -ST
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It's town councils' duty to explain investments: Mah
Residents must be informed how sinking funds are invested and of the risks taken. -ST |
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DBS Bank defends retrenchment
Alternative means of cost-reduction has been discussed at length before move to axe staff.
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Broker to pay $350k in stock loss after client vanishes
Fooled by a client's flashy image, the remisier may soon go broke having to make up the losses. |
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$120 commission for $10,000 risk
How to lose US$200,000 in 7 days - it is in bad times that remisiers tend to be hit by big debts from fleeing customers.
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Tales of fortunes made and lost in recessions
Success can be one of life's worst enemies. It engenders overconfidence and, as a result, one tends to let one's guard down - in some instances, to the extent of recklessness. |
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MAS to launch Islamic bond facility early 2009
The Monetary Authority of Singapore is in the final stages of setting up a sukuk issuance facility to provide Shariah compliant regulatory assets to financial institutions. -AsiaOne
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S'pore households have enough wealth to weather the storm
Since independence, like the proverbial hard-working ants that we've been, we've managed to squirrel away huge surpluses that are now the envy of many. -TNP |
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Late credit-payment rate still low
But experts say rise in jobless rate could lead to spike in number of delinquency cases. -myp
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Cheaper loans from Monday
Several banks have announced plans to lower rates for loans and financing.
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Now's the time to spend more
Companies able to invest in a recession will gain market share and come out stronger. -ST
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US$2.6b 'pyramid' scam busted
SKorean police bust 2.6 bln dlr 'pyramid' scam. -AFP
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Singapore-Belgium new avoidance of double taxation agreement ratified
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Failed products: Why clients were misled
Risks were not properly explained to customers at point of sale.
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Citi survives, now the world can sleep
Bank may not be in the clear even after bailout package, but people can breathe easier now.
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Indian expats shocked by attacks, but positive on investment
They still think it's a good place to invest given its long-term growth potential. -Reuters
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100 shoppers polled
TNP surveyed 100 shoppers on their opinions on the GST.
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30 retailers polled
TNP asked them what they thought about the GST.
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Suing banks not that easy
It's a complicated legal path if investors choose to go to court.
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MOVERS: Services in demand as expats leave or downgrade
Not all companies see gloom ahead. Tessa Wong and Jessica Lim find that some are getting sunshine as consumers turn to lower-cost alternatives. |
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BEAUTY SHOPS: Sitting pretty as customers want to look good
Not all companies see gloom ahead. Tessa Wong and Jessica Lim find that some are getting sunshine as consumers turn to lower-cost alternatives.
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BUDGET FASHION CHAINS: Doing well as shoppers go for cheaper options
Not all companies see gloom ahead. Tessa Wong and Jessica Lim find that some are getting sunshine as consumers turn to lower-cost alternatives. |
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REAL ESTATE AGENTS: Downgraders, bargain hunters are main clients
Not all companies see gloom ahead. Tessa Wong and Jessica Lim find that some are getting sunshine as consumers turn to lower-cost alternatives.
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MAID SERVICES: Bad times bring good money for part-time agencies
Not all companies see gloom ahead. Tessa Wong and Jessica Lim find that some are getting sunshine as consumers turn to lower-cost alternatives. |
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Brokers put out calls valid for only 20 days
70% cut in duration of recommendations driven by volatile market conditions.
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India's stock market plunge shatters middle-class dreams
Thousands of small investors lose savings as stock index tumbles to three-year lows. |
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Can TCs invest in structured products?
Do Town Councils have the legal capacity to invest funds?
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U.S. shoppers seek deals, buy less on Black Friday
This holiday weekend will test the strength of consumer sentiment. -Reuters
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Well protected, with positive returns
Sinking fund investments clarified by PAP Town Council.
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