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2009

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2008

Money advisers who bowl toxic balls should... Financial advisers have a duty to their client and cannot expect to run away from their liability.			No refund for $250k investment These are retirees who bought failed structured products, but not directly from banks.

	China and India on spending binge But can they save the world economy? -AFP		Set up govt agency to administer loans Agency will administer loans, but Government will still have the final say on lending. -myp

	Why kick out pregnant woman? Readers thoughts on landlord that kicked couple out of their flat. -myp		Let students take pleasure in studies Majority of children find education system too results-based. -myp

Singapore GIC says it is underweight stocks, has cash It now holds more than 7 percent of its portfolio in cash. -Reuters			Bank lending falls again Second consecutive monthly decline shows loans dipping with financial slump.

	Citibank fights recession with help from its corporate clients Chinese New Year parties by banks met with good responses from banking clients.		Banks not only ones to deny loans Moneylenders too have turned cautious, doing more detailed checks and offering smaller amounts. -ST

	Devotees upset over repossessed temple Ancestral tablets had to be claimed and moved from temple after abbot fails to pay rent.		Savings for a rainy day Poll shows that Singaporeans need to improve financial health, especially in savings.

	Lawyers handle more 'financial woe' cases Surge in insolvency, restructuring work at troubled firms.	Sunshine Empire chief on 20 charges He and three others are accused of running a fraudulent scheme.

Most MPs back Jobs Credit Scheme A few, including Low Thia Khiang of the opposition, doubt its effectiveness.		Dip into reserves essential, say MPs But some caution about such a precedent.

No GLC investments in Las Vegas Sands and its subsidiaries GLCs have not invested in Las Vegas Sands, directly or indirectly. -myp		High-flying bankers eat humble burger Gone are the perks and near-limitless expense accounts. -Reuters

	Riding the waves Edited excerpts of a speech Senior Minister Goh Chok Tong gave on the Budget at Marine Parade's Chinese New Year Celebration lunch.		Economy watchers on Budget 2009 Large companies might need help later in the year to stay afloat.

	S'pore can afford the tax cut S'pore will do whatever necessary to undercut global recession to remain a conducive place to do business.		Boosting labour and demand Why did Budget not cut employer's CPF contribution and do more to boost consumer demand?

	Jobs Credit: Targeted approach Scheme should discriminate between big corporations and SMEs to be effective.		Tax: Case for 'pay as you earn' Forgo one year of taxes for more economic stability.

	CPF cut better than job credits Wage subsidy cannot be sustained for long if workers are no longer productive.		GST cut or GST credits? A cut in taxes will help people across the board with their spending.

	Chance for greening S'pore Going green and conserving resources is also about a change in lifestyle.	NUS don to review Notes complaints Fourth independent person appointed to oversee investor complaints linked to failed financial products.

	Some users put off by new AXS stations Only DBS or POSB card holders can use these machines for now, leaving others frustrated. -ST		No tellers at new-look POSB branches Four new-style branches with no tellers set up.

Not so idyllic 'cashback' schemes Sharp rise in complaints about non-existent or reduced payouts.		Doom and gloom 'curbing spending' Overdose of bad news lowers morale; vital to win battle of the mind: MPs.

Barclaycard exec says has seen no bad debt shocks MD for UK Cards says arrears within expectations. -Reuters		$1.4b retrieved in Madoff probe Thousands of boxes found in a warehouse in Queens. -Reuters

Chong: More will go to loan sharks and face debt woes 618 cases last year of loan shark threats in Malaysia. -The Star/ANN		Help Malaysia weather slowdown, civil servants told Malaysian PM: Achieving the goals of the stimulus package would require commitment. -The Star/ANN

Wall St pay curbs resound across Corporate USA Experts doubt bailout companies will voluntarily accept restrictions. -Reuters		Property firms circle back to local banks Banks more cautious but still comfortable lending to high-quality names.

Investment guidelines for GIC reviewed from time to time GIC is expected to achieve reasonable returns over global inflation over the long term.		'Japanese Madoff' Conman had promised to build a paradise on Earth for investors, some even called him divine. -AFP

	Japanese man arrested over $2.1 billion investment scam Kazutsugi Nami had promised 36 percent annual returns. His company even issued its own electronic money, which he predicted would be a hit during the global economic crisis. -AFP	Budget aim: Biggest bang for the buck Jobs Credit gives twin boost to economy, says Finance Minister.

Govt details steps leading to President's OK Using past reserves: Tharman tells why swift action was needed.		Senate votes to ban bonuses Restrictions imposed on companies that receive bailout money. -Reuters

Jobless turned hookers Chinese women who ventured to Paris end up turning to street prostitution. -AFP		Madoff cheated stars, family They include actors Kevin Bacon and John Malkovich. -AFP

	Budget: All the right stuff It's the right size, uses the right approach, and helps the right group, says Tharman. -myp	Excerpts: Tharman's budget debate speech Mr Tharman explains the rationale behind this year's budget measures.

	More help to buy first home Households earning up to $5,000 a month get more help. -AsiaOne	How the President's assent was secured Getting nod to use reserves was comprehensive process, not a staged act: Tharman.

Govt did mull GST cut but decided against it Finance Minister explains decisions on income tax, GST.			Burnt by Madoff, seething in Bedok Singapore resident recounts how he got taken in by the master swindler.

	'Doctor Lim' speaks up for Jobs Credit pill Not a panacea, but a strong remedy that could save jobs and protect workers' CPF.		Not so idyllic 'cashback' schemes Sharp rise in complaints about non-existent or reduced payouts. -ST

HDB to help home owners avoid defaults Mah says measures include downgrading and temporary rental for those in distress.		HDB tightens rent eligibility rules Move will help to prevent abuse of public rental scheme.

Americans missing payments This is prompting lenders to further scrutinise borrowers' profiles. -Reuters		Enter Goodyear, with a long-term view He is no stranger to making long-term investments.

Temasek's change of guard Ho Ching to hand over reins to American Chip Goodyear on Oct 1.			The Ho Ching Effect on Temasek How she changed the face and the portfolio of the institution.

	Case takes legal action against timeshare firm Watchdog accuses it of unfair trading practices after several complaints. -ST		S'poreans shun life insurance in tough times Premiums for new policies dive 64% in last quarter to $1b.

	PCCW saga: Investors should go along for ride No more soap opera please: Derailing buyout offer now will send its shares into free-fall.		New exchange traded fund being launched New DBSAM will be the first in series of new ETFs planned by DBS.

	Elderly woman gets back entire $100k savings Refund possibly the highest, some get up to 30% of investments.		They pocket $283,000 and ask for cheap rental flat Govt sets tougher rules to fight abuse of rental flats.

	Money didn't lure him to S'pore He comes out of retirement to take over Temasek from Ho Ching.		Goodyear credited with creating mining giant CEO-to-be Goodyear stemmed then-bleeding BHP and merged it with South's Africa's Biliton, creating the world's top mining company today. -ST

Don't curb lending, says PM Significant attention had been placed on developing infrastructure to provide a conducive business environment.-The Star/ANN			Collector snaps up $1.2m Picasso in 5 minutes Big-ticket paintings sold proves art is a weather-proof investment. -TNP

	Bad times spell boom for religion Surge in numbers at many places of worship here; many religious leaders devote sermons to coping with the financial crisis. -ST		New world Mr Fast Food? New HK tycoon did not know anything about the restuarant business when he joined Cafe de Coral. -TNP

	Homeless shelter hears more cries for... More in 'sandwich class' turn up at shelter for the homeless.		Sias offers to advise Lehman investors As resolution process comes to a close, many investors will need advice on alternatives available to them. -ST

	New steps to help the needy Measures to reduce the number of defaults on home loans as announced in Parliament.	S'pore can improve on weaknesses during downturn We should look into areas in need of reform, innovation or improvement in order to keep weaknesses in check. -myp

	Peter Lim's suit fails but judge ticks off new RTC owners Judge says they've bled the company; Lim says he has cleared his name. -BT		2 years of Temasek growth wiped out in months Portfolio size shrinks to $127b from $185b; GIC returns also likely to fall. -BT

	Don't be too trusting of property agents Take charge of your property sale. -TNP		CapitaLand offers shares to raise $1.8b Shareholders can buy one share for every two held at $1.30 each. -ST

Merrill made 696 millionaires Firm quietly paid out bonuses to 700 top executives even when it was bleeding losses: probe. -AFP			Use credit cards online and at AXS Singtel customers can still pay their bills via various locations islandwide. -myp

	UOB Kay Hian fined $115k for exam breach SGX also orders retest for dealers, remisiers following discovery of leaked questions. -ST		Time for strategic review of investment approaches Public deserves to know more about Government investments, rather than blind confidence.

	CPF Ordinary rate still 2.5% Rate is minimum under the CPF Act.	DBS profit down 40% Drop in profits bigger than expected. -Reuters

Banks lower interest rates and penalty for late payment Move encourages good repayment habits and instills fiancial discipline. -The Star/ Asia News Network		Johor may cut land, licence fees Proposal to ease people's burden during present economic crisis. -The Star/ Asia News Network

What our leaders are worth Abhisit Vejjajiva's cabinet and their assests in this declaration. -The Nation/ Asia News Network			Refund should include interest Deduction from Medisave account made by mistake was without authorisation or acknowledgement. -myp

	Will investors see their money again? Outlook may be grim for investors with money stuck in the company.		Questions about Temasek, GIC losses At losses of $58b, 'have not performed as badly' is not a good measure of performance. -ST

	Who's afraid of turmoil? Not Barclays UK bank presses on with plan to hire up to 1,500 skilled staff here. -ST		Reserves unaffected by losses Singapore's reserves will not be depleted by losses incurred by Temasek Holdings and the Government of Singapore Investment Corporation, Senior Minister of State for Finance Lim Hwee Hua said.

	Burned by Madoff, but not seething Actual lesson from Madoff was to treasure what we have, not dwell on what's been lost. -BT		CPF retirement plans simplified Original 12 plans cut to four now.

	Investors must keep at least $30,000 in Special Account Move prompted due to uncertainty around CPFIS returns, and also because SA receives additional interest on its funds.		Rules on CPF top-ups for family members eased Age restrictions removed; prevailing Minimum Sum before top-ups are allowed lowered. -ST

Poor to get mobile banking This is part of Microsoft's programme to extend financial services to the poor. -AFP		Singapore's GIC losses about $50 billion: sources Spokesman: No comment on "speculative reports". -AFP

	Will we survive the recession? With the recession bringing echoes of the Great Depression, our economy is in serious trouble. -TNP		Exam ensures dealers understand products Courses alone are inadequate to ensure trading representatives understand ES contract. -ST

	At a glance: Relief on the road to recovery An array of help initiatives that were announced in the nine days Parliament discussed the Budget. -TNP		Wealth of top 40 tycoons down RM76.8b Worst hit is 'Sugar King' Robert Kuok, down by RM26.6b. -BT

	Sibor dives, but home loan rates go up Most banks have raised their spreads to make up for increased risk and higher capital costs. -ST		Why I said yes President cites severe downturn, rapid decline of the economy and need for swift measures to restore confidence.

	Concerns about economy go back to mid-2008 President makes public for first time his decision to allow use of reserves. -ST		President Nathan did the right thing Decision to draw from reserves was made with ample deliberation and advice from chief staff. -ST

	'11 days was reasonable' Singapore President S R Nathan explains what it took before he gave his 'in-principle' approval to draw on $4.9 billion from past reserves. -TNP		President Nathan explains decision After deliberating for 11 days, President Nathan gave his 'in-principle' approval to draw from past reserves. -TBP

	Jewellery firm Aspial goes into pawnbroking business Group secures one licence and is applying for another four.	Asean to seek consensus on RM308b common fund The fund aimed at bolstering foreign exchange reserves to cope with the global economic crisis. -The Star

Second Malaysian stimulus package is for private sector It will be more comprehensive than the first, covering more sectors. -The Star			High Notes 5 investors exploring legal recourse 200-odd investors who lost money on DBS High Notes 5 'explore their options' after rejected compensation appeals. -ST

	PM urges foreign banks to stay with clients Banks that have a long term interest in Singapore will continue to nurture relationships with clients. -ST		S-chips languish as Shanghai booms Investors still avoiding S'pore-listed China firms despite repeated 'buy' calls. -ST

	Why won't bank let me invest? Here is a twist that is perhaps a sign of toxic times: A bank has said thanks, but no thanks to a customer's money.		Bank analyses investors' needs As part of the selling process, Personal Financial Consultants at OCBC do a financial needs analysis with customers.

	Suburban malls count on kampung spirit They draw on regular clientele and value-for-money deals. -myp		More to come on missing millions Probe into the running of MIC's education arm, the Maju Institute of Education Development (MIED), is expected to turn up more financial discrepancies. -NST

	US$81m loss trader pleads guilty Bet on naphtha went wrong, so trader concealed trading losses. -ST		12,000 opt to pay no tax for three months Deferment scheme frees up taxpayers' money for other pressing needs. -ST

	Pawning goes posh in Manila Tight bank credit forces even the well-off to hock valuables at 'financial services' firms. -ST		Tong Garden case: 'Secret deal' unveiled Mother and son had a deal in 1999 to 'sell' her shares for $2million. -ST

	Ride out storm without special help 90% minimum payout ratio won't be lowered, says Lim Hwee Hua. -ST		When the economy tanks, more go sailing Almost 100 people turn up at recruitment talk, more than twice the number in 2007.

	Texas billionaire in fraud case nowhere to be seen Allen Stanford disappears after getting accused of US$8b fruad. -Reuters		If Madoff took your money, hammer him Action figure of fraudster comes with limited edition hammer to smash it with. -Reuters

	Heavily penalise agencies of errant property agents The best way to curb the many unlicensed and untrained property market is to impose heavy penalties penalties on their agencies. -myp		'Credit crunch? It's a kind of cereal' UK kids' funny take on economic terms. -TNP

	Grown-up version of the downturn What a credit crunch really is, and the things you should be aware of. -TNP	Employers' payment to HR Fund could be cut by half In view of the economic slowdown, employer contributions to the HR fund could be reduced by 50%. -The Star/ANN, NST

MAS revises unsecured credit rules New rules will allow more to borrow, but govt says that individuals should not spend beyond their means. -AsiaOne			Company sacks bankrupt after he accepts share options He did not tell his bosses of his status although it was required. -TNP

	Citi asking US govt, GIC to up direct stakes American government could end up owning up to 40% of the bank. -ST	Workers losing out on social security organisation's aid Malaysia minister says fault lies in the hands of doctors. -NST

Asian Reits market capitalisation shrinks Unit prices of Reits dived and new listings dried up.			More struggling to meet credit card, loan repayments But credit card delinquency still below the highs during Sars. -BT

	Suspect took $13m worth of watches Firm files writ, hopes to recover sum from man on Interpol list. -ST		Cortina sues ex-employee for $13.3m Interpol also after missing employee suspected of watch heist. -BT

	Fund managers see prospects amid crisis Climate tough, but they are bullish about Asia's emerging economies. -ST		Pay for goods over MRT fare gate and get fined $2,000 MRT's purpose is to transport passengers, not goods or articles for business and trade. -TNP

	Give all jobless sole breadwinners an allowance Unemployed sole breadwinners should be given a small allowance for a limited period to tide them over crisis. -myp		Banks, please back off; MAS, kindly act... Banks should not use confidential information like our cellphone numbers to make cold calls and solicit business. -ST

	S'pore tops global innovation rankings Study shows US losing its edge and suggests future belongs to Asia. -ST		NTUC does much to help needy members NTUC and its affiliations give members more value than received for its annual subscription fees. -ST

	Protect consumers against telemarketers Consumers should have protection against rouge telemarketeers. -ST		CPF-invested stocks and unit trusts fall in value Only bonds saw growth; CPFIS unit trusts, and ILPs fall by 40%, and 36% respectively. -ST

	Credit card debts ballooning ...and so is the number of card holders seeking counselling.		Help families hit by double whammy Households where both breadwinners lose their jobs should be given more aid. -ST

	$1,000 from 1,000 firms Children's Society hopes to raise $1 million a year from new corporate donors. -ST		Woman cons family of $1.3m for 'Pagoda' Far-fetched ploy gets glib talking woman a cool $1.9 million over 12 year period. -TNP

	That shrinking feeling gets more acute Q4 contraction of 4.2% is worse than expected; services sector badly hit. -BT	Doctor Victim: I believed her because she was my neighbour Woman claimed she needed money desperately for her medical bills. -TNP

They wanted to break 'curse' on family The list of victims falling prey to smooth-talking con-woman. -TNP			Glitch hits GST credits for some Ubin residents Finance ministry says those affected by mistake will be given more credits. -TNP

	Dividend-rich story is waning Investments preferred during this recession are no longer the blue chips and dividend-rich stocks. -BT

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