August 26th, 2010 |
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Life, Singapore | Add a comment
I went to the Invest Fair 2010 at Marina Bay Sands last Saturday. The event was jointly organised by ShareInvestor and The Business Times. My purpose there is feel the atmosphere, find out what people are after and just get a little exposure to this side of financial product sales.
As I walked in, was approached constantly by promoters speaking to me about what they are promoting. Not surprising, considering this is a free event and the exhibitors and participants paid the organizers to have a booth there. Main aim is to do promotion and sales.
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July 29th, 2010 |
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Economy, Singapore | Add a comment
Singapore’s growth accelerated to a record 18.1 percent pace in the first half of 2010, spurring the currency, putting pressure on policy makers to check inflation with a stronger currency, and putting the island on course to be the fastest-growing economy in the world this year.
The government predicts GDP will rise 13 percent to 15 percent in 2010. Credit Suisse Group AG and Oversea-Chinese Banking Corp. forecasts for the island’s expansion this year range from 12.7 percent to 16.3 percent among the economists surveyed by Bloomberg.
By comparison, Goldman Sachs, BNP Paribas and Macquarie and China International Capital Corp estimates for China range from 9.5 percent to 10.1 percent in recent weeks.
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July 26th, 2010 |
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China, Financial Knowledge, Singapore, U.S.A. | Add a comment
China’s shift toward a stronger exchange rate may alter the shape of the world economy’s expansion more than its speed, economists said. The currency move is likely to affect the composition of global gross domestic product rather than the growth rate
Chinese consumers might buy more as the rising yuan boosts their purchasing power, while their counterparts in the U.S. cut back on their spending as the cost of goods imported into America rises. The shift will add 0.1 percentage point to global growth this year and next, leaving the rate at about 4 percent, according to the median of 17 forecasts in a Bloomberg News survey of economists.
China’s central bank said June 19 it will increase flexibility in the yuan, marking an end to the crisis policy of pegging to the dollar.
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July 9th, 2010 |
Published in
Managing Wealth, Singapore | 2 Comments
Property is a significant source and store of wealth for affluent individuals around the world, a major allocation for their capital and, in many cases, a source of huge pleasure and enjoyment. It is a long-term investment that offers the potential for income, capital gains and a hedge against inflation. The optimal asset mix for an asset allocation for a wealthy client usually includes real estate properties, specific businesses, various equity and bonds.
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June 3rd, 2010 |
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Asia, China, Economy, Europe, Financial Knowledge, Investment Advice, Singapore, U.S.A. | Add a comment
May has been a volatile month. Europe’s sovereign debt risks and tensions in Korean Peninsular weighs down heavily on the financial markets while economic data has shown that the recovery is underway.
Europe
Speculation and intense debate on 2 issues, whether Greece will be forced to default and whether Euro will lose some of its weaker member countries has died down a little. However, things are still not certain a month after attacks lead to a trillion dollar bailout package. Euro skeptics say the forced spending cuts and tax increases will scuttle a recovery before it takes hold. The fiscal austerity measures will be a big drag on growth. Spain lost its AAA credit grade at Fitch Ratings, dropping one step to AA+ to a “stable” outlook.
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April 5th, 2010 |
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Managing Wealth, Singapore | Add a comment
Take avantage of Supplementary Retirement Scheme (SRS) and save on income tax like a lot of other middle aged Singaporeans. SRS was established to encourage individuals to save for their retirement by offering tax incentives. SRS is open to all Singaporeans, Singapore Permanent Residents and foreigners.
Benefits
Besides having a larger pool of savings upon retirement, members can also claim tax relief for contributions made to the SRS. Investments and gains in the SRS are tax free.
Tax will be payable only when SRS savings are withdrawn. Only 50% of the sum withdrawn will be subject to tax. Withdrawals may also be staggered over 10 years to enjoy greater tax savings.
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March 24th, 2010 |
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Managing Wealth, Singapore | Add a comment
CPFIS Changes
Starting from 1st July 2010, the first $40,000 of members’ Special Account(SA) balances will no longer be allowed for investments. The previous limit for 2009 is $30,000.
There is no change to the requirement for members to set aside $20,000 in the Ordinary Account (OA) before they can invest their Ordinary Account monies.
Members will still be able to use sums above $40,000 in their SA to invest. If you have already bought investments under CPFIS-SA but do not have $40,000 in your SA, you will not be required to sell them. However, when you liquidate these investments, you would not be able to re-invest them unless you have at least $40,000 in your SA. Additionally, standing instructions for monthly deductions of SA into investments will cease if there is less than S40,000 in your SA.
CPF Interest Rates
CPF Interest Rates (01 Apr 2010 to 30 Jun 2010)(reviewed quarterly)
Ordinary Account – 2.50%
Special & Medisave Accounts – 4.00%
CPF Interest Rates (01 Jan 2010 to 31 Dec 2010)(reviewed yearly)
Retirement Account – 4.00%
The Government will maintain the 4% p.a. minimum rate for interest earned on all Special and Medisave Accounts (SMA) monies and Retirement Account (RA) monies until 31 December 2010. After which, a 2.5% minimum rate will apply for all CPF accounts.
In addition, an extra 1% interest will be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the OA and the rest on SMA or RA. The extra interest from the OA will go into the member’s SMA or RA to improve his retirement savings.
February 20th, 2010 |
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Economy, Singapore, U.S.A. | Add a comment
New property rules
Government steps up moves to cool the sizzling property market yesterday.
First, anyone who sells a property within a year of buying it will have to pay stamp duty of around 3 per cent. This is on top of the stamp duty you had to pay on the purchase.
Second, lending institutions will now be allowed to lend only up to 80 per cent of the purchase price, not 90 per cent. Buyers will have to come up with at least 20 per cent themselves. Housing Board loans are not affected by this change in what is called the loan-to-value (LTV) limit.
The sellers’ stamp duty will hit short-term speculators, observers said, while the change in the bank loan limit is likely to weed out marginalised buyers. The measures will affect only a limited number of buyers but experts feel they could have a psychological effect on the market. There is also concern that tougher steps are in the pipeline.
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January 19th, 2010 |
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China, Economy, Singapore | Add a comment
China Trade Rebound Aids Global Economic Recovery
China’s exports surged in December 2009 to make it the 2nd largest exporter in the world. Imports rose to a record in a stronger-than-forecast trade rebound that may lessen the case for governments to sustain stimulus programs this year.
Exports climbed 17.7 percent from a year earlier, the first increase in 14 months, and imports jumped 55.9 percent. Year-on-year comparisons are affected by the tumble that began in late 2008, when the global credit crisis deepened. Shipments to the U.S. and the European Union grew 15.9 percent and 10.2 percent respectively from a year earlier. Imports from Australia and Malaysia more than doubled.
Soaring imports are more evidence that China’s economy may face an increasing danger of overheating. Chinese government, while warning that recovery is not yet solid, pledged to “guide” speculative flows, bank loans and property lending. China is expected to raise interest rates and let its currency appreciate in the coming months as policy-makers resort to more aggressive measures.
Countries like Taiwan also experienced surge in exports while Australia and New Zealand markets and currencies gained on bets their economies will benefit from the increase in shipments to China. Among other points, the International Monetary Fund has said it will probably raise its estimate for 2010 world growth from 3.1 percent.
Trade Rebound Aids Global Economic Recovery
Analysts bullish over earnings season
In Singapore, as earnings report for Q4 and the full year 2009 goes into full swing next week, analysts are expecting good results for all sectors given the cost cutting measures and rebound in economy in 2009. Except for the volatile biomedical sector, which is not represented in the local stock market, all sectors grew in Q4 last year.
Analysts bullish over earnings season
