Philip Chua Business Blog

Posts Tagged ‘authority’

(SINGAPORE) Banks and big insurers here will have to fill more than half the positions on their boards and key board committees with independent directors, instead of the minimum one-third now, under new proposals to strengthen the corporate governance of financial institutions here by the Monetary Authority of Singapore (MAS).
The definition of independence would also be tightened; a director wou… more

(SINGAPORE) The Monetary Authority of Singapore (MAS) is seeking sweeping new powers to seize insurers in distress and to supervise their liquidation to protect policyholders.
It also wants to raise the limits on the compensation offered by the policy owners’ protection fund (PPF) schemes for both life and general insurers, to better protect policy owners.
The PPF schemes were introduced in the In… more

PRIVATE sector economists expect Singapore to grow even faster next year, as more signs emerge that the economy is returning to normal.
Growth is tipped to hit 5.5 per cent next year after a 2 per cent contraction this year – based on the median expectations of 20 economists, released yesterday by the Monetary Authority of Singapore (MAS).
This is better than the 4.5 per cent growth they predicted… more

(SINGAPORE) Inflation is now expected to be higher in 2010, as a result of increased Housing and Development Board property values.
The government has revised its consumer price index (CPI) inflation forecast to between 2.5 and 3.5 per cent, from a one to 2 per cent range previously.
This is to account for the Inland Revenue Authority of Singapore’s recent revision of annual values of HDB properti… more

FINANCE Minister Tharman Shanmugaratnam yesterday said the government will use every tool at its disposal ‘in a calibrated fashion’ to prevent boom and bust in the property market. One day after the Monetary Authority of Singapore served notice of further action to cool the housing market if needed, in the face of growing speculation risks, Mr Tharman spoke about the need to manage the property cy… more

FIRST, the good news. Singapore’s economy has moved beyond the initial post-crisis bounce of growth and will continue to expand as genuine demand begins to stabilise around the world.
But Singaporeans must prepare for a ’slower and steadier’ pace of expansion next year than they are used to, said the Monetary Authority of Singapore (MAS) yesterday.

Even though Asian economies have recovered stro… more