Tag: MAS

Due to high demand, 2 million more Singapore bicentennial S$20 notes to be issued

Singapore—Due to "strong public interest,” the Monetary Authority of Singapore (MAS) has announced that it will issue two million additional Singapore bicentennial S$20 notes, which are expected to be made available to the public later this year, around October or November. The monetary authority “will...

Remittance firms charging maids exorbitant interest fees on loans will be stopped, says MAS

To protect the interests of foreign domestic helpers, the Monetary Authority of Singapore (MAS) strongly prohibits remittance firms to continue providing loan services to these hapless domestic workers. Such prohibition will be implemented beginning September 10, 2019. However, the rule will not cover existing loans,...

Facebook on why it kept controversial States Times Review post, “We don’t have a policy of removing false content”

Facebook has stated its reasons for not assenting to requests from the government of Singapore to remove a post that linked Prime Minister Lee Hsien Loong with the 1MDB scandal on the States Times Review (STR) page, saying, “We don’t have a policy of...

Singapore sees worst case of job losses in 14 years

Singapore has seen a total employment contraction of 8,500 in the first quarter of the year, resulting in a 14-year high in job losses for the Island republic. Most of the job losses were registered in the construction and the manufacturing sectors. This was revealed by Citi Research,...

Ravi Menon’s rise in global profile outshines 1MDB casualties

Despite a contamination of the 1MDB scandal on a global scale, swift action by Monetary Authority of Singapore imposing stricter measures and some fines to the culprits - some of whom are behind bars - brought its managing director to fame. MAS announced Ravi Menon has...

How did Johari deliberately ignore facts on 1MDB scandal

Lashing at his fellow Member of Parliament from the opposition did Johari Abdul Ghani who is second Finance Minister in Malaysian Prime Minister Najib Razak's cabinet, deliberately omitted the facts that stand out in the 1MDB scandal In a letter published by Malaysia Kini yesterday, Johari...

Singapore rushes to save banks amid property rules easing

Bloomberg on Friday said banks has been given a reprieve with the easing of the country's property rules, following a rise in housing loans share in the bad debts ratio. OCBC alone showed housing loans consisted 15% of its bad debts ratio, and make up...

Malaysia Airlines still losing money but biz class surges

Malaysian Airlines, battered by a series of unfortunate events in the recent years, saw a boost in its image with business-class bookings surging with all time highs. Malaysia Airlines’ said its passenger load factor rose to 81% in the fourth quarter from 70% compared to...

Bahrain in talks with Singapore on blockchain pilot

Singapore is getting more attention from the Arab world, with Arab money pouring in from all sides. Now, it is the tiny Kingdom of Bahrain that has held talks with Singapore's central bank as it devises plans for a pilot blockchain project in the Gulf...

TERROR IN THE SKY: What MAS should do

Speculation of bankruptcy has emerged as Malaysian Airlines faces yet another crisis after MH17 was shot down over the skies of eastern Ukraine last week, barely four months after MH370 mysteriously disappeared from radar detection on its way to Beijing. Will MH17 be the last...