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The Penny Stocks Debacle in Singapore
What do stocks like Blumont, Asiasons, LionGold have in common? The recent collapse of prices in some penny stocks in Singapore has led to many questions being raised about our Singapore stock market and the role of SGX as a market regulator. There has been discontentment not only among investors who lost money, but also […]
New Rules for Credit Cards and Unsecured Debts
MAS has finalized some new rules for credit cards and unsecured debt lending. This follows a public consultation exercise in Jan 2013. The tightening of easy credit is a good thing to prevent people from falling into a debt spiral. Some of the key policy changes include: (a) Financial institutions (FIs) will need to review […]
Tie-ups Between Banks and Developers not Allowed
When MAS recently announced the new debt servicing ratio rules, it was understood that they also communicated to financial institutions that they should not be offering property-related services to their clients. The restrictions are actually quite wide, some of which are: No special loan rates for designated launches No advertising and promoting of property launches […]
Bringing the Financial Advisory Industry to Greater Heights
Yesterday, the Association of Financial Advisers held their annual congress. An executive director from MAS was there to give the opening address. She spoke about the state of under-insurance in Singapore, and how Singaporeans were not always receiving quality advice. The vision for the financial advisory industry in Singapore is for financial advisers to be […]
How Far Should We Protect Investors?
Recently, there has been a spate of discussions on ST Forum about the extend that investors should be protected from investment schemes (or scams). It all started when there were adverse news reports about a property venture linked to a former Sakae Holdings director, Andy Ong. Apparently, a group of about 90 investors had invested […]