Archive for the ‘Finance’ Category

First-time buyer: HDB resale or BTO?

October 14, 2016

TODAY, 14 Oct 2016, First-time buyer: HDB resale or BTO?


A young couple with a combined household income of S$5,000 is considering a three-room HDB flat in Toa Payoh. One option is to apply for a unit in the Bidadari BTO estate, Woodleigh district, which is scheduled to be launched next month. While the HDB has not announced its prices, if the Bidadari project launched last February is any indication, the median price should be around S$350,000. Based on this, it is possible to calculate the cash out-of-pocket required to service the couple’s mortgage.

As Table 1 illustrates, the cash payment required to service the mortgage is S$256 per month. This cash outlay translates to a mortgage servicing ratio of 28 per cent.

In contrast, if the young couple buys a resale HDB three-room flat in the same location as a BTO Bidadari unit, the cash outlay is zero with a mortgage servicing ratio of 20 per cent. Given this information, the decision matrix can be seen in Table 2.

Let us look at a second example. Another young couple has a combined income of S$7,000 and would like to buy a four-room HDB flat. The numbers are reflected in Table 3.


(Picture Link)


Banks’ credit card scheme could help California Fitness clients get refunds

July 26, 2016

TODAY,  24 Jul 2016, Banks’ credit card scheme could help California Fitness clients get refunds

A little-known clause called the chargeback scheme may offer a recourse for some California Fitness customers seeking refunds following the fitness chain’s closure.

Offered by credit card companies like Visa, MasterCard and American Express, the scheme allows cardholders to claim money back if the goods and services they paid for do not arrive or are faulty or if the merchant has gone bust.

Three out of five banks contacted by TODAY said those who have used their credit cards to buy California Fitness packages are entitled to refunds, subject to varying caveats and administrative requirements.

Affected customers holding OCBC Bank credit cards will have to submit a credit card dispute declaration form along with a copy of their membership contract and credit card statement displaying the transaction with California Fitness.

“OCBC Bank will then help them raise a dispute through Visa/MasterCard to the merchant’s bank under ‘services not rendered’,” said a spokesperson.

While the chargeback amount is limited to the time frame of services not yet utilised, those with lifetime memberships are entitled to a full refund, he added, as it is not possible to gauge each customer’s lifetime accurately.

For Citibank cardholders, there is a 120-day limit on claims, starting from the day of transaction. Cardholders requesting chargeback must also satisfy requirements such as providing the bank with “relevant documents”, it said.

DBS said its cardholders are entitled to chargebacks “in most cases”, if less than 18 months have passed since the day they entered into a contract.

DBS customers who have taken up instalment plans, however, are to seek recourse with the Small Claims Tribunal.

In its latest advisory on the episode, the Consumers Association of Singapore (Case) urged affected customers to ask for chargebacks, but said this applied only to those with “month-to-month membership packages”.

“Consumers who have purchased pre-paid or fixed-term membership should note that they may still be liable to make monthly repayments to the bank if the bank had already paid California Fitness in full,” said Case.

There are currently no regulations here governing chargeback protection. The Association of Banks and the Monetary Authority of Singapore do not have guidelines for disputed credit card transactions.

[Related News]
TODAY, 18 December 2009, Credit card users could get protection through chargeback scheme

Promotional fixed-deposit (FD) rates

January 26, 2016

MyPaper, 26 Jan 2016
Banks offer up to 2.1 per cent a year for fixed deposits

2016 bank rates

Investfair 2015 Video Gallery

October 7, 2015

INVEST Fair 2015 was the largest investment show in Singapore for the 9th consecutive year running.

Missed INVEST Fair 2015? Watch the event video from the comfort of your own home.

Banks here offering higher fixed deposit rates

July 23, 2015

ST Paper, 23 july 2015

Banks here offering higher fixed deposit rates

banks FD promo rates

The Financial Markets – Fun Byte-Size Video Tutorial Series

May 26, 2015

Brought to you by: TradeHero and SGX with contributions from Synapse Trading


2015 Technology Salary Guide

May 6, 2015

The Morgan McKinley Salary Guide examines hiring and remuneration trends for 2015 across Banking & Financial Services, Finance & Accounting, IT, Project & Change Management, Sales & Marketing and HR.

2015 Technology Salary Guide by

Download the full Morgan McKinley 2015 Singapore Salary Guide (PDF)

Download IT Salary Guide (PDF)

2014 Salary Guides

Some Finance Audiobooks

April 20, 2015

1. Benjamin Graham: Security Analysis

2. Benjamin Graham: The Intelligent Investor

3. David Clark & Mary Buffett: Warren Buffett’s Management Secrets


S$25 million in share buybacks last week

March 9, 2015

SGX, 9 Mar 2015

Share buybacks are a process where a share issuer repurchases some of its outstanding shares from shareholders through open market transactions.

– For the first week of the month from 2 to 6 March, there were a total of 16,621,900 shares repurchased by 18 stocks with a total consideration of S$25.1 million. This is an increase from the first week of March last year, which saw a total of 4,375,000 shares purchased by 12 stocks with a total consideration of S$6.6 million.

– The five stocks with the largest consideration amount in buybacks were DBS, OCBC, Singapore Technologies Engineering, Pacific Century Regional Developments and Chip Eng Seng Corporation.

S$25 million in share buybacks last week [Google Docs(filter-enabled), SGX]

Uni Graduate Employment Survey 2014

March 3, 2015

The Graduate Employment Survey (GES) is jointly conducted by NTU, NUS and SMU annually to survey the employment conditions of graduates as at 1 Nov, about six months after their final examinations. The Ministry of Education (MOE) publishes the results of key employment indicators of the survey to provide prospective students with timely and comparable data to assist them in making informed course decisions. 13,656 graduates from NTU, NUS and SMU were surveyed and the overall response rate obtained was 74%.

View the 2014 Graduate Employment Survey results of:
NUS (63kb .pdf)
NTU (62kb .pdf)
SMU (60kb .pdf)

CNA, 27 Feb 2015, Higher salaries for graduates from Class of 2014: Survey


[Related Articles]
Graduate Employment Survey 2014 (Published 2015)
Graduate Employment Survey 2013 (Published 2014)