Philip Chua Business Blog

Posts Tagged ‘MAS’

(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

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

(SINGAPORE) Amid uncertain domestic and international economic conditions, the Monetary Authority of Singapore yesterday retained its neutral policy stance and left the width of its undisclosed Sing-dollar trading bands unchanged.
The news drove the local currency to a four-day low against the greenback, after it had chalked up significant gains in the past week.
Explaining its decision, MAS said … more

(SINGAPORE) While the full-year growth forecast for the Singapore economy has been hiked sharply after two resurgent quarters, the 2010 outlook is somewhat more subdued, the government says.
The recession may have ended but GDP growth in 2010 is expected to be slower than in previous post-recession periods, says the Monetary Authority of Singapore (MAS).
Advance estimates of third-quarter GDP gr… more

AFTER coming in at zero per cent this year, inflation is likely to pick up again next year, on the back of higher oil and food prices.
The Monetary Authority of Singapore (MAS) has flagged these two factors as the main drivers of inflation next year, predicting it will rise to 1 per cent to 2 per cent.
In its twice-yearly monetary policy statement yesterday, the central bank also said inflation is… more

THE rise of the Singdollar against the United States greenback came to a halt yesterday after the Monetary Authority of Singapore (MAS) signalled it was not going to change its exchange rate policy.

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RISE HALTED

The Singapore dollar, which is kept within a set rang… more

IT WAS thought only sundry investors with more optimism than savvy needed protecting when the central bank proposed tougher compliance for the financial industry in the selling of investment products, following the investors’ revolt last year. Not so. The Monetary Authority of Singapore’s (MAS) first tranche of decisions, out this week after comment from the industry, is already fairly broad in co… more

(SINGAPORE) The Monetary Authority of Singapore has published the first set of new rules that it plans to implement to change the way financial institutions here treat customers in response to the recent scandal over mis-selling in the industry.
The 19-page document released yesterday details MAS’s response to feedback it received on changes it proposed in March to regulations governing the sale o… more

(SINGAPORE) The Monetary Authority of Singapore (MAS) is suing well-known fund manager Tan Chong Koay for alleged false trading in Singapore-listed United Envirotech (UET) shares in late 2004.
Dr Tan is chief executive of Pheim Asset Management, a US$1.26 billion boutique fund he founded in 1994. Pheim has also been named as a defendant in the suit, the second such filed by MAS under its new civil… more