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Tag: banking

Posted on 01/05/2024

More than S$370,000 recovered after banks, Singapore and Hong Kong police foil scam

The 70-year-old victim divulged his bank credentials to a scammer after being told his computer had been hacked and his bank accounts were used for illegal activities.

Posted on 01/05/2024

HSBC’s Noel Quinn ends 37-year CEO dream with surprise departure

Unlike some rival CEOs at companies that have private jets, Quinn often flies commercial for his regular trips.

Posted on 01/05/2024

MAS will not extend six-month pause on DBS’ non-essential activities

SINGAPORE: The Monetary Authority of Singapore (MAS) will not extend the six-month pause on non-essential activities that it imposed on DBS after the bank's multiple service disruptions in 2023.

Posted on 30/04/2024

OCBC should be seen as ‘financial conglomerate’ unlike local banking peers, says chairman

OCBC should be seen as a financial conglomerate of many parts, setting it apart from the other two local banks in Singapore, said its chairman Andrew Lee. Read more at The Business Times.

Posted on 30/04/2024

DBS must still hold additional capital buffer due to service disruptions despite ‘progress’: MAS

SINGAPORE - The Monetary Authority of Singapore (MAS) will not extend a six-month restriction on DBS Bank’s non-essential banking activities, which was imposed due to disruptions to the bank’s ...

Posted on 30/04/2024

Amid losses and IPO delays, Ninja Van conducts layoffs in tech office

Regional logistics firm Ninja Van has announced a bout of layoffs. It has let go of 21 employees from its tech division in Singapore, representing about 10% of the regional tech team and 20% of the ...

Posted on 30/04/2024

Malacca Securities sets Farm Price’s fair value at 85% premium ahead of IPO

Malacca Securities has ascribed a fair value of 44.5 sen per share for Farm Price Holdings Bhd, which marks a premium 85% from its initial public offering (IPO) price.

Posted on 30/04/2024

Delayed rate cuts expected to benefit Singapore banks’ otherwise uneventful Q1 earnings

SINGAPORE’S local banks are unlikely to surprise in their earnings for the first quarter of 2024. But a potential delay in interest-rate cuts in the US should boost their results for the year, said ...

Posted on 30/04/2024

Singapore Stock Market May Open To The Upside

(RTTNews) - The Singapore stock market on Monday ended the two-day slide in which it had slipped almost 15 points or 0.5 percent. The Straits Times Index now rests just above the 3,280-point plateau ...

Posted on 30/04/2024

Jail for ex-Chubbs Insurance employee who cheated company into disbursing S$11m in false claims over 7 years

For seven years, a senior claims executive at Chubbs Insurance executed what a judge described as an “elaborate scheme” to cheat his employer into disbursing over S$10.74 million in fraudulent claims.

Posted on 30/04/2024

EWS: Singapore Yields Up To 7% But Remains Relatively Unattractive

Amid renewed volatility for Southeast Asian stocks, Singapore has once again proven its defensiveness. Read more to see our analysis on EWS ETF.

Posted on 30/04/2024

Singapore’s S$3bil (RM10.5bil) money laundering case: Fourth man gets 14 months’ jail

Su Baolin, one of the 10 foreigners in Singapore’s largest money laundering case, made millions from his role in illegal online gambling operations abroad, said prosecutors.

Posted on 30/04/2024

Singapore bankers took lower salaries and bonuses compared to Hong Kong bankers

Singapore bankers received lower salaries and bonuses than their Hong Kong peers.... The post Singapore bankers took lower salaries and bonuses compared to Hong Kong bankers appeared first on The Inde ...

Posted on 30/04/2024

Jail for ex-Chubbs Insurance employee who cheated Singapore company into disbursing S$11m in false claims over seven years

For seven years, a senior claims executive at Chubbs Insurance executed what a judge described as an “elaborate scheme” to cheat his employer ...

Posted on 30/04/2024

Singapore’s manufacturing output in March dropped by 3.2% YoY

SINGAPORE: Singapore’s manufacturing output in March dropped by 3.2% YoY and 16% MoM, according to the latest data from EDB Singapore, as reported by the Singapore Business Review.

Posted on 29/04/2024

IPO Roundup: Viking Holdings, RanMarine Technology, and more

The IPO market is showing resilience amid an uncertain interest rate cut scenario. The impact on IPOs is still unclear, but with reduced expectations for rate relief from the Fed, companies intending ...

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