Singapore cautions wealth managers on aggressively courting Hong Kong business

2019-09-08 00:38:42

12 Jul 2019 - Monetary Authority of Singapore (MAS) has cautioned wealth managers against aggressively marketing their services to woo clients to Singapore by capitalising on Hong Kong's political turmoil, according to people with knowledge of the matter.

The Singapore central bank told bankers it wanted to ensure wealth managers in Singapore were sensitive to the situation in Hong Kong and did not design campaigns specifically targeting business from Hong Kong, the people said.

It is known that some tycoons in Hong Kong have moved funds, or considering to do, given the recent political and social unrest in Hong Kong. Even the middle-class people of Hong Kong are trying to find out about opening bank accounts in Singapore.


Singapore best country for Expats to live and work – Annual survey

2018-10-14 23:56:35

12 Oct 2018 - Singapore has came in as the best country for expatriates to live and work, according to a survey conducted by HSBC. Singapore has took this top spot for the fourth year in a row.

The survey polled 22,318 expats, including more than 500 residing in Singapore. Expats were surveyed on categories like personal finance, career progression, lifestyle, children education, etc.

Expats in Singapore earned an average of US$162,000, which is US$56,000 more than the global average - placing Singapore in fifth place for expat salaries, behind Switzerland, the US, Hong Kong and China.

The other countries that emerged in the top ten countries for expats are, in ascending order, New Zealand, Germany, Canada, Bahrain, Australia, Sweden, Switzerland, Taiwan and UAE.

Source: Straits Times

Singapore is top 20 most expensive cities for Expats

2018-06-23 18:20:43

12 June 2018 - Singapore has re-entered the global top 20 most expensive cities in the world for expatriates based on the latest survey by ECA International.

Housing is the largest cost factor for expats as far as the cost of living in Singapore is concerned. The demand of real estate is generally high in Singapore. If you have an expat benefits package, you should make sure that your employer covers at least part of your accommodation costs.

If your company is not paying for your accommodation, you can considering rent a room rather than an entire apartment. Instead of living in a condo with full facilities, you can check out options in HDB (government-built) apartments, which attract significantly lower rent than condominiums.

Bike Sharing in Singapore

2018-06-23 18:00:16

Bike-sharing allows users hire a bicycle for short periods at budget-friendly costs. Bikes are booked using mobile apps so you will need at least a smartphone to start booking bikes.

In other parts of Asia (e.g. China) and Europe, there are usually two types of bike-sharing types: docked and dock-less. Most operators in Singapore have bicycles with dock-less system that allow users to pick-up and park bikes at almost anywhere in Singapore.

There are several bike-sharing operators but 3 of them currently dominates the market. They are Obike, Mobike and Ofo. Other smaller operators are SG Bike, Gbike, Gbike, Sharebike and Anywheel.

Depending on the pricing strategies of the operators, you may pay a one-time fee for a single trip or a monthly fee for you are a regular user.

Having bike-sharing as an alternative transport mode, expats now have more options to moving around in Singapore. Bike-sharing supplements the current public transportation modes of buses and MRT trains.

Many companies are embracing more eco-friendly and sustainable lifestyle for their employees. They provide shower facilities in the offices for employees who cycle to work. That is the reason why more expats in Singapore are now using shared bikes to commute to work.

USA – North Korea Summit

2018-06-13 01:45:27

Singapore hosted the historical USA - North Korea Summit on Tuesday 12 June 2018. USA President Donald Trump and North Korea Chairman Kim Jong Un and their aides met to discuss issues about denuclearisation, building lasting peace and recovering remains of prisoner of wars. Both President Trump and Chairman Kim thank Singapore for hosting the summit and their hospitality. Singapore had spent about 20 million Singapore dollars to ensure the summit went smoothly. This includes deploying hundreds of security personnel and equipment to ensure the security of the foreign delegates. Singapore has again proved itself to be a premium destination for holding world-class events and conferences.