Singapore Economic News

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#51
(02-03-2016, 01:44 PM)Porkbelly Wrote: This is an example of how Singaporeans are not street smart.
The assumption that all letters that appear "officious" sounding
must originate from the Government, and that Government is
the absolute authority to be be obeyed.

Its a bubble here.

Bro

I reckon that you are too harsh.

E.g. Article from FT on 24 February: Cyber Scams

And I quote:

More than 12,000 businesses worldwide have been targeted by the scams, also known as CEO email schemes, between October 2013 and this month. The transactions have netted criminals $2bn, according to the Internet Crime Complaint Center, an intelligence and investigative group within the FBI that tracks computer crimes. Companies large and small, across 108 countries, have been hit and the threat is growing, law enforcement officials say.

We are not really alone. Big Grin
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#52
8% down now and 48% up in the next ten years

http://www.channelnewsasia.com/news/busi...65348.html



Fall in number of Singapore's ultra-high net worth individuals: Survey

While there was a drop of 205 people with a net worth of more than US$30 million (S$42 million) to 2,360 last year, the Republic retained its second place in the Asian league table, according to the study by Knight Frank.
Posted 02 Mar 2016 16:45
Updated 02 Mar 2016 16:50

SINGAPORE:  There has been a fall in the number of people in Singapore with a net worth of more than US$30 million (S$42 million), according to a study by UK-based property consultancy Knight Frank.

The study, released on Wednesday (Mar 2), showed that there were 2,360  "ultra-high net worth individuals" (UHNWIs) in Singapore last year, down from 2,565 in 2014.

That put Singapore in sixth place in the global league table, behind New York (5,600), London (4,905), Hong Kong (3,854), Moscow (3,457) and Los Angeles (2,820).

Knight Frank said the study tracks the growing "super-rich population" in 98 cities across 91 countries. The survey was based on the views of about 400 leading private bankers and wealth advisors globally who, between them, manage assets for about 45,000 UHNWIs with a combined wealth of over half a trillion US dollars, it added.

The decline in the number of such individuals in Singapore follows a global 3 per cent slide in the total number of UHNWIs. Almost 6,000 people fell out of the wealth bracket in 2015, the first annual dip in ultra-wealthy populations since 2008, the consultancy said.

Over the next 10 years, Knight Frank projects that the UHNWI population in Singapore will increase a further 48 per cent.

Head of Consultancy & Research of Knight Frank Singapore Alice Tan said the attributes that Singapore had built over the decades — a conducive business environment, clear regulatory framework and a progressive ecosystem of financial and business services — had "augmented its status amongst the wealthy as a preferred location to live and do business in Asia".

“Singapore’s excellent infrastructure, education and healthcare systems further anchors its global city accolade by promoting a vibrant economy, which will in turn boost the country’s real estate landscape within the next decade."

THIRD MOST IMPORTANT CITY TO UHNWIS GLOBALLY

The study also ranked the cities that mattered most to the world’s wealthy, based on where they live, invest, educate their children, grow their businesses, network and spend their leisure time.

Singapore was ranked third in the world for its importance to UHNWIs based on these factors in 2016 according to the study, overtaking Hong Kong from fourth place in 2015. London and New York retained the first and second positions as the most important cities to UHNWIs worldwide.  

Although more than half of survey respondents did not believe that the two top cities could be overtaken in importance in the coming decade, the 34 per cent of respondents who did believe that this was possible placed Singapore as the top contender for the next most important city in the next 10 years. This included respondents from Singapore, India, Australia, the US, Hong Kong, UAE, the UK, Malaysia and China.

Ms Tan suggested that if the Republic strengthened its trade relations with East and Southeast Asian markets and positioning as a strategic location it could further grow the size of its external market.


"Advancing the growth of wealth management and professional services in key business industries could foster a greater impetus for UHNWIs to make Singapore a city of choice," she added.
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#53
Chart of the Day: This is the sorry state of Singapore's largest listed shipbuilders
http://sbr.com.sg/energy-offshore/news/c...ipbuilders
You can find more of my postings in http://investideas.net/forum/
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#54
Budget 2016!

Firms specializing in public works projects: Total spending, including public infrastructure projects, is expected to be $5 billion (7.3 per cent) higher than fiscal year 2015. The increases are mainly in healthcare, education, security and urban development. Heng also unveiled plans for the Jurong Innovation District, an “industrial park of the future”. The first phase is targeted for completion around 2022. To support the development of the Changi Airport Terminal 5, a further $1 billion top-up will be made to the Changi Airport Development Fund. Plus, government will build a new outward-bound Singapore campus on Coney Island that is expected to be ready around 2020 and cost about $250 million.
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
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#55
http://www.rolfsuey.com/2016/03/is-now-r...l-and.html

A rather good review on the O&G sector, with jobs still intact due to the backlogs of order. If forecasts follows according to the author's narrative, 2017 will be the time when retrenchments start and from my line of reasoning, occurrence of bad loans and spill over of O&G layoffs to insurance and property industry.
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#56
Why insurance?
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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#57
Insurance has been peddled as savings products to members of Singapore society. Singapore has one of the highest insurance advisers per capita. The growth in insurance sales rep has been at its fastest since 2012 due to graduate programme with a guarantee $Xk monthly pay, of course with the hidden collaray of constantly hitting sales target after your 3 months stint.

The situation now is ok because ppl are willing to open thwir wallets to save as jobs are still aplenty. But when people lose their jobs or tighten their belts, signing another insurance plan as a savings mechanism is something they are less inclined to. With less Eskimos buying ice then and too many ice sales rep, something has to give.
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#58
An indicator of Singapore economic...

Singapore Feb bank lending dips as general commerce loans slide

SINGAPORE - Singapore's total bank lending in February fell from January on a decline in loans to general commerce, central bank data showed on Thursday.

Loans and advances by domestic banks in the city-state amounted to S$596.2 billion ($441.8 billion) in February, data from the Monetary Authority of Singapore showed. That compared with S$600.2 billion in January.

February bank lending slid 1.2 percent from the year-earlier level of S$603.5 billion. Housing and bridging loans in February stood at S$185.3 billion, similar to January's level. These loans totalled S$178.4 billion in February last year.

Loans and advances in non-Singapore Asian currencies (ACU) totalled at S$533.0 billion in February, down from S$545.9 billion in January. REUTERS
http://www.todayonline.com/business/sing...oans-slide
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#59
Moody's is pretty "on-the-ball", looks like recession coming for singapore soon. Cee Hoo Eee back below 10k again!!!

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Moody's lowers Singapore banks outlook to negative
https://sg.finance.yahoo.com/news/moodys...ector.html
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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#60
sg gov firing elephant gun soon! Tongue
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
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