A former Prudential insurance agent has been issued an eight-year prohibition order by the Monetary Authority of Singapore (MAS) after being convicted of criminal breach of trust offenses. The agent, Gng Hoon Hong, misappropriated a staggering S$117,160.94 entrusted to him by clients to pay insurance premiums. Gng Hoon Hong, a former representative of Prudential Assurance
A recent survey by the Institute of Policy Studies (IPS) and CNA revealed that younger adults in Singapore are generally financially prudent. Most respondents demonstrated responsible financial behaviors, such as spending within their means for day-to-day expenses and avoiding impulsive loans or credit card usage. However, many young adults are willing to buy things that
Younger Singaporeans are financially prudent, but some buy things to be happy: IPS poll Read More »
A recent surge in scams promoting fixed deposit schemes with high interest rates has exploited at least 12 individuals, leading to substantial financial losses totaling $650,000 within the first few months of the year. These fraudulent activities typically commence with unsuspecting victims receiving deceptive SMS messages from scammers utilizing unidentified numbers starting with +65. The
High Interest Rate Fixed Deposit Scam Claims 12 Victims, Losses Amount to $650,000 Read More »
As the end of the year approaches, many Singapore employees eagerly anticipate receiving their 13th-month bonus, also known as the Annual Wage Supplement (AWS). This article will help clarify some misconceptions and answer commonly asked questions about this bonus.The first important thing to note is that AWS and 13th-month bonus are not interchangeable terms. The
What every Singaporean worker needs to understand about the 13th-month bonus Read More »
To enhance their stock-buying decisions, UOB Asset Management (UOBAM) has implemented an AI-augmented approach to investment. Their funds, United Asia Fund and United Greater China Fund have shown consistent outperformance, incorporating AI into their investment processes. Since the incorporation of AI, the United Asia Fund has consistently outperformed the MSCI AC Asia ex-Japan Index by
Singaporean Fund Manager Uses AI-Plus-Human Approach for Investment Success Read More »
Introduction: Having a conversation with your boss about a salary increase can be daunting. However, it is an important step in ensuring that you are compensated adequately for your contributions. In this article, we will discuss some key points to consider when asking for a pay raise. What if the request is denied? If your
How to Successfully Ask for a Pay Raise Read More »
Grab announced on its website that it would discontinue its GrabPay Card on June 1. The digital technology and ride-hailing company said users will no longer be able to make online or offline transactions with their digital or physical GrabPay Card starting that date. Launched in 2019 in partnership with payment technology corporation Mastercard, the
Grab discontinues digital, physical GrabPay Card from June 1 Read More »
Financial independence is a crucial goal for many individuals. It not only provides a sense of security but also allows for a comfortable lifestyle and the freedom to pursue one’s aspirations. In Singapore, where living costs are high, and there is a focus on financial stability, setting achievable goals is essential. In this article, we’ll
Personal Finance: How to Set Achievable Financial Goals Read More »
Many Singaporeans have expressed concerns about the escalating cost of living in the face of rising inflation. However, a Malaysian woman living in Singapore since 2013 has a different viewpoint. According to her, Singapore’s cost of living is lower than Malaysia’s when considering the income-to-spending ratio. This article will delve into her perspective and examine
A Malaysian’s Perspective: Cost of Living in Singapore is Lower Read More »
Building a stable financial future begins with incorporating daily habits that promote better money management. Here are some practical tips to enhance your financial literacy and improve your financial well-being: 1. The 4-3-2-1 Approach: Budgeting is a cornerstone of sound financial management, helping you keep a close eye on your expenses and prevent unnecessary overspending.
3 Effective Money Management Habits for Financial Well-Being Read More »
