Financial Services
MAS records $7.4b loss in FY21/22
MAS records $7.4b loss in FY21/22
Lower investment gain was among the factors that led to the loss.
SG emerges as top Southeast Asian destination for start-up investment
The Lion City is home to 12 unicorns and over 9,300 startups.
MAS renews bilateral currency swap arrangement with People’s Bank of China
The arrangement will be renewed for five more years.
How Singapore survived the global fintech funding fall
In Q2, the country's global market share by deal value jumped to 6.4%.
Rise in family offices drives need for upskilling of wealth managers
There are 700 single-family offices in Singapore as of 2021.
Investors’ exposure to US markets down in June amidst recession concerns
The investor movement index for clients declined to 4.88 in June 2022.
Chart of the day: Almost 2 in 5 Gen Z S’poreans have a digital bank account
Older Singaporeans are less likely to have a digital bank account.
How Singapore banks are closing the gender gap
Most banks have already exceeded the 2021 regional average of 18.5% employed women per firm.
Top Excel director pays $70,000 fine for unlicensed money-changing businesses
He violated the Money-changing and Remittance Businesses Act.
Chart of the day: Asset quality of top three SG banks to remain steady
Fitch peer reviewed DBS, OCBC, and UOB in a new report.
MAS cuts down training scheme subsidies in the financial sector even further
However, the government agency still expects participation to remain robust.
MAS mulls additional consumer protection safeguards for crypto trading
Last January, MAS already restricted the marketing of crypto services.
MCT appoints former OCBC CEO as new non-executive director
Samuel Tsien led OCBC for nine years.
Withering wealth? 15% of the mass affluent plan to increase their borrowing
Two in five affluent Singaporeans also said they intend to reduce spending this year.
Chart of the day: Singapore’s rich are getting poorer
More than 2 in 5 Singaporean rich have had their income decreased in 2021.
More funds from IPOs seen in H2 as firms face economic woes: Deloitte
Nine IPOs posted $572m in proceeds, raising the total IPO market to $790m.
AIA Singapore goes on hiring spree for financial associate consultants
The firm opened 500 positions along with the launch of its Financial Associate Scheme.
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Commentary
Singapore’s family offices: Time to professionalise or risk falling behind
Liquidity crucial to stock market reform