Singapore’s MyRepublic expands mobile network vision with new US$60M investment

Jobs

The Independent

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June 6, 2018

The internet service and mobile network operator also said it wants to IPO in Hong Kong in about two years

A mere month after it struck a deal with local telco StarHub to offer virtual mobile network services, Singapore broadband provider MyRepublic has received fresh funds — US$60 million — to expand its new offering to regional markets.

Investors who took part in the round were CLSA Capital Partners, the asset management business of CLSA, and Kamet Capital Partners, a Singapore family office.

The investment also gives MyRepublic a better shot at hitting its IPO timeline target, which is between 18 to 24 months, a press release said. The company intends to go public on the Hong Kong stock exchange.

“This investment is a milestone along our path to a public listing and it is the advice and guidance provided by CLSA Capital Partners that has led us to this point,” said MyRepublic CEO Malcolm Rodrigues.

“As the company expands its broadband and mobile platforms across Asia, we believe it’s uniquely positioned to take advantage of the digital transformation accelerating the telco sector,” said CLSA Singapore Country Head Andrew Hartley.

Also Read: MyRepublic raises US$52M from Makara Innovation Fund to scale its services regionally

MyRepublic said that it uses a proprietary cloud platform to power its telecommunications services like customer support, allowing it to be lean and therefore keep end-to-end operations cost low. The platform offers flexibility, allowing the company to scale its services to new markets.

MyRepublic’s mobile virtual network leases data, call, messaging and other network services from traditional telcos with existing network infrastructure — similar to other mobile virtual network operators (MVNOs)

Currently, MyRepublic’s mobile plans are only available for existing MyRepublic broadband customers. And in a small market like Singapore, it faces tough competition from existing MVNOs in Singapore including Circles.Life and Zero Mobile, though MyRepublic’s US$150 million war chest may give it an upper hand, for example, in terms of branding power or customer incentives.

Beyond the telecommunications space, MyRepublic also wants to use its cloud platform to offer services in different industries such as energy, insurance and big data sectors.

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Image Credit: MyRepublic

The post Singapore’s MyRepublic expands mobile network vision with new US$60M investment appeared first on e27.

Source: e27

Is Cash Out Refinancing a Smart Financial Move?

Personal Finance

The Independent

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June 6, 2018

0

Is Cash Out Refinancing a Smart Financial Move?

You may have heard a friend mention using “cash out refi” to pay for a home renovation or to afford their child’s university tuition. What they are referring to is called cash out refinancing. Also known as a reverse mortgage or second mortgage, it allows property owners to borrow against the financial value of their home. Freeing up that much cash may sound very appealing, but is it really a good way for people to get extra cash?

How Does Cash Out Refinancing Work?

Cash out refinancing allows private homeowners to take out a loan from a bank based on the the homeowners’ equity in their homes. While a traditional home loan can only be used to make the initial home purchase, this special type of loan can be used for many purposes like home renovations, tuition or investing.

The amount that homeowners can borrow for their property from cash out refinancing is ultimately determined by the value of the home that the homeowner personally owns. The amount that the homeowner personally owns is called equity and is calculated by subtracting the outstanding home loan amount from the current assessed value of the home, which is determined by the bank. Additionally, any CPF savings that were used to pay for the home are subtracted from this amount. Ultimately, banks tend to offer up to 60% to 80% of a homeowner’s current assessed property value as a refi loan. For reference, the table below shows an example cash out refinancing loan.

To get a cash out refinancing loan, you should contact a few banks to compare loan amounts and interest rates. Many banks offer cash out refinancing to private homeowners and typically require a Notice of Assessment, NRIC photocopy and a CPF property withdrawal statement for each borrower.

When Does Cash Out Refinancing Make Sense?

Interest rates for cash out refinancing loans can be significantly lower than those of other types of debt. For example, even the cheapest personal loans charge flat interest rates of 4% to 6%, while education loans and renovation loans charge 3% to 6%. In contrast, most cash out refinancing loans charge interest rates of 1% to 2%. For someone who needs to borrow at least S$20,000, opting for the cash out loan instead of a personal loan could result in thousands of dollars in savings.

Estimated Total Interest Cost of 5-Year, S$30,000 Loan

Why Should Homeowners Be Wary of Cash Out Refinancing

While the calculation above may make refi loans seem very attractive, it’s not without its own downsides. The reason that banks are able to offer such low rates for reverse mortgages is that the borrower’s property is typically used as collateral. This means that a debtor who cannot repay his cash out refinancing will have his home repossessed by the bank, which can sell the home to recoup its loss. The potential of losing one’s home upon defaulting is the most severe risk associated with cash out refinancing.

This is a particularly big risk in situations where property values drop significantly. When the real estate market drops, people who took out cash out refinancing may end up owing more money to the bank than the remaining value of their home ownership. This was a significant problem in the United States housing crash of 2008. As housing prices increased rapidly, many Americans took on second mortgages in order to take advantage of their properties’ rising value. However, when housing prices crashed between 2007 and 2012, many individuals lost their homes because their properties values fell far below the amount that they owed and they were unable to repay their lenders.

It is also important to note that cash out refinancing is not available to HDB lease holders. Borrowers should also beware of prepayment penalties that penalise homeowners for repaying their reverse mortgage earlier than the agreed upon termination date. These fees could negate the benefits of cash out refinancing.

Bottom Line

Cash out refinancing, also known as a reverse or second mortgage, can be a relatively inexpensive way for private homeowners to take on debt to fund home renovations or to pay for college, which tend to have very predictable result in form of higher property value or higher earning potential for the family. With that said, we strongly suggest that individuals use these loans carefully and not for discretionary spending or speculative online trading as the worst case scenario could leave them without a home.

The article Is Cash Out Refinancing a Smart Financial Move? originally appeared on ValuePenguin.

ValuePenguin helps you find the most relevant information to optimise your personal finances. Like us on our Facebook page to keep up to date with our latest news and articles.

Singapore Government expected to earn over $3million with sale of medallions commemorating Trump-Kim summit

Jewel Stolarchuk

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June 5, 2018

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Singapore Government expected to earn over $3million with sale of medallions commemorating Trump-Kim summit

The Singapore Government expects to earn millions of dollars with the sale of special medallions it has launched to commemorate the Trump-Kim summit that will take place here next week.

In the first of what could be many more of such novelty items, the Singapore Mint launched gold, silver and nickel medallions to commemorate the “momentous step to world peace” marked by the historic summit.

The Singapore Mint will produce a limited supply of each medallion. It has plans to produce 1000 gold medallions that cost a hefty $1380 each.

15,000 silver medallions will be produced, priced at $118 each. The Mint initially only had plans to produce 10,000 silver medallions but hiked the supply due to increasing demand.

The most economic option, the nickel medallions, will be sold for $36 each. The supply of these medallions may increase to meet demand.

The sale of the gold and silver medallions alone is expected to nett $3.15 million for the Government.

Ho Ching claims “we need to supplement CPF” as MOF Press Secretary implies CPF may not be enough as people live longer

Jewel Stolarchuk

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June 5, 2018

2

Ho Ching claims “we need to supplement CPF” as MOF Press Secretary implies CPF may not be enough as people live longer

Chief executive of sovereign wealth fund Temasek, Ho Ching, is urging investors to invest in Temasek’s first retail bond to boost their retirement income.

In an interview yesterday, Ho Ching – who is also Prime Minister Lee Hsien Loong’s wife – said that Temasek realised years ago that people in Asia typically live longer with improved economic growth and that one of the key challenges is planning and funding retirement.

She added that while institutions like Central Provident Fund (CPF) exist for retirement planning and funding in Singapore, “we think we need to supplement it and companies can participate in this.”

Interestingly, just a day after Ho Ching implied that there is a need to supplement CPF, the press secretary to the Minister of Finance wrote in a forum letter that CPF is “adequate” for most Singaporeans – so long as they don’t live longer.

Press Secretary Lim Yuin Chien had been rebutting a Straits Times article that called on Ministers to speak plainly to the people. Fiercely defending the Government, Lim claimed that the PAP Government has been speaking plainly to the people for close to 60 years without obscuring the truth.

Besides pointing out that the ST writer helped to edit Lee Kuan Yew’s ‘Hard Truths’ book, Lim noted that the Government has been upfront with the people and named the Goods and Services Tax (GST) hike as an example where Ministers have spoken clearly to the people.

Lim also cast aspersions against Workers’ Party parliamentarians at this point and alleged: “Unfortunately, some opposition MPs sought to avoid debating this issue in Parliament, preferring to wait till the heat of the hustings, when emotions, rather than reason, rule.”

Lim further said that the call to speak plainly also applies to journalists and commentators. Asserting that the ST writer dared ministers to make sweeping promises, Lim said:

“”For example, he wants ministers to assure people that if they had “a full working life in Singapore, in any job… when you retire at 65, you will have enough to live a good and decent life”.

“”We will make sure it happens,” Mr Han urges ministers to say, “don’t worry about the details or how we will do it.”

“But plain speaking about adequate retirement would also entail telling people some “hard truths”.”

He then pointed out that while CPF is “adequate for most Singaporeans, and Silver Support will help top up for those who did not earn much while working”, it may not be enough as people live longer. Lim said: “However, as people live longer, their needs in old age will go up. Then, we will have to work longer, save more while working, or have less to spend in retirement.”

Lim’s careful statements seem to imply that he believes the CPF scheme is sufficient for most Singaporeans but may not be enough for Singaporeans who live longer. Those who live longer, thus, would need to supplement their retirement income to meet their needs in old age – this is similar to what Ho Ching and Temasek think.

Lim ended his letter by stating: “Politicians and journalists who advocate simplistic policies lose credibility, faith in democracy is undermined, and ultimately, voters or their children bear the cost…The easiest five words to utter in politics are: “I promise you free lunches.” But that’s not plain speech. That’s pandering and populism.”

Grab launches Grab Ventures to accelerate and invest in startups across Southeast Asia

Jobs

The Independent

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June 5, 2018

0

Grab’s new accelerator Velocity will seek to partner with eight to ten growth-stage startups over the next 24 months and may invest in select startups

Southeast Asia’s leading ride-hailing company Grab, which now has ventured into multiple verticals, including online payments, finance, shopping, logistics, and food delivery, today announced the launch Grab Ventures, an innovation arm aimed at discovering and growing Southeast Asia’s next-generation technology leaders and to promote innovation and digitisation in the region.

Grab Ventures will work with private sector firms as well as government agencies in Singapore and across the region to support growth-stage technology companies by helping them develop and scale technologies that will solve transportation, logistics, food and payments challenges in Southeast Asia.

Also Read: Southeast Asia is setting itself up for disappointment with Go-Jek entrance

“As Grab turns six, we are experiencing a period of solid growth. Grab is ramping up innovation in-house to scale faster as the leading O2O mobile platform in Southeast Asia. We’re always open to partnerships where it makes sense for our business, and will look to partner or invest in the right company that enables Grab to expand our business quickly, explore new technologies and build new capabilities,” said Anthony Tan, Group CEO and Co-founder of Grab.

Grab Ventures will allow Grab to rapidly develop new technology capabilities and build fast-growing businesses in-house, as it continues to add new services to its O2O mobile platform. Grab has already invested in GrabCycle, a marketplace for multiple personal mobility partners; Kudo, Indonesia’s leading O2O platform; Drive.ai, AI solutions for autonomous vehicles; and iKaaz, an emerging markets mobile payments platform.

Additionally, Grab Ventures said it will launch ‘Velocity’, an accelerator programme for growth-stage startups looking to expand across Southeast Asia. It will seek to partner with eight to ten growth-stage startups over the next 24 months and may invest in select startups that exhibit strong synergies with Grab. It is looking for startups operating in sectors such as transport, food, logistics and financial services.

Also Read: Grab&Go debuts in Singapore, helping Grab drivers make extra money from providing snacks in car

Companies interested in applying for the Velocity accelerator programme can visit ventures.grab.com for more information.

“We’ve stood on the shoulders of giants and we now hope to pave the way for other Southeast Asian tech companies to rise and achieve success. Grab will play an active role to grow and foster the region’s startup ecosystem. We’ve attracted world-class engineering to Southeast Asia, and developed a tech platform with valuable assets like our huge base of drivers and delivery partners, as well as products which will help partners scale faster. It’s about enablement, and we invite growth-stage startups that want to expand across Southeast Asia to partner with Grab Ventures,” Tan added.

In Singapore, Grab is partnering with government agencies such as the Info-communications Media Development Authority of Singapore (IMDA) and Enterprise SG for capability development, market access and startup facilitation, regulatory support and grants.

Also Read: Grab acquires Bangalore-based payments startup iKaaz

In addition, EDB and EDBI are also joining the Velocity programme as early partners, with a shared goal of supporting the growth of tech companies that could solve challenges in or revolutionise the digital, logistics, transportation and fintech sectors with their game-changing technology.

Grab claims that it more than doubled the growth of mobile app downloads within the past year from 45 million in June 2017 to 100 million to date. Grab is now present in 217 cities across Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.

The post Grab launches Grab Ventures to accelerate and invest in startups across Southeast Asia appeared first on e27.

Source: e27

Trump-Kim burgers and coins to commemorate historic summit

Singapore News

Anna Maria Romero

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June 5, 2018

0

Trump-Kim burgers and coins to commemorate historic summit

Days before the historic summit meeting in Singapore between US President Donald Trump and North Korean leader Kim Jong Un, The Royal Plaza hotel on Scotts has announced that it is “making burgers great again” with the creation of a Trump-Kim burger—a burger that supposedly combines elements of both Korean and American cultures.

While the summit is not scheduled until June 12th, Singaporeans may take a bite of the Trump-Kim burger to commemorate it in advance.

The Trump-Kim burger is served with Summit Iced Tea, and is priced at S$12++, according to the hotel’s Facebook page. The burger itself consists of a “succulent chicken patty and tangy Kimchi” and is “served with fries and Korean rice rolls,” and will be made available at the Scotts Lounge of the hotel, Level 2, from June 8 to 15 at 6pm to 8pm.

The Summit Iced Tea also represents a harmonious blend of flavors from the two cultures, with honey yuzu, a traditional Korean flavor, blended into iced tea, a drink with US origins. This beverage costs S$ 6++.

For those who would rather have a more lasting souvenir of the summit, the Singapore Mint announced on June 5, Tuesday, that three commemorative medallions in gold, silver and base-metal have been created to mark the auspicious event.

The coins show the leaders from the US and North Korea shaking hands, as well as the North Korean flag on the left and the United Sates’ on the right, symbolic of “both countries’ position on the political spectrum,” according to Singapore Mint.

Both flags will appear in color only on the silver medallion, which costs S$118 and is made of 1 ounce 999 fine silver. The gold medallion costs S$1380, and is made of 1/2 ounce 999.9 fine gold. The base-metal medallion costs S$36, and is made of nickel-plated zinc.

Photo from The Singapore Mint

All three medallions will carry the inscription “Summit in Singapore” as well as the date of the event.

On the back of the medallions is a peace dove, which the Singapore Mint says is symbolic of “the significance of the summit to bring about world peace.” The back will also be featuring the rose, the US’ national flower, and the magnolia sieboldii, North Korea’s national flower.

From June 5 onwards the medallions can be pre-ordered on singaporemint.com or at the retail outlets of Singapore Mint.

Old Chang Kee, bringing ‘karipaps’ all the way to London

Obbana Rajah

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June 5, 2018

1

Old Chang Kee, bringing ‘karipaps’ all the way to London

Old Chang Kee has just opened its first curry puff outlet in London, with their flagship outlet situated at Covent Garden.

Apparently, while there, Instagram user chang_wander said that a curry puff cost £2.80 (SGD4.98).

He also added that the store sells curry noodles as well, at £6.80 (SGD12.09).

Loving the curry puffs at Old Chang Kee, the famous Singapore snack chain now open in London. Our favourite is the Chilli Crab (opening special price £3.20), with just the right amount of spiciness – and the juicy crab and buttery pastry are a heavenly combination. ??❤ . ?15a New Row, Covent Garden WC2N 4LD . . #london #londoneats #londonlife #londonfoodie #londonfoodblogger #foodporn #instafood #foodstagram #foodpic #foodie #food #foodinlondon #igerslondon #wheretoeatlondon #londonfood #oldchangkee #oldchangekeeuk #eeeeeeats #f52grams #currypuff

A post shared by Flash in the pan ? ? (@flashinthepan_ldn) on Jun 2, 2018 at 5:47am PDT

The store also sells on of Singapore’s signature dishes in curry puff-form, a Chilli Crab Curry Puff, at £3.20 (SGD5.69).

Since their beginning in 1956, Old Chang Kee has expanded beyond just the shores of Singapore, to places such as Malaysia, Indonesia and even Australia, with more than 100 outlets altogether.

Since its opening in London on Saturday, many have taken to social media to rave about the curry puffs.

There was even mention of a pop-up stall that Old Chang Kee held previously in Kentish Town in north-west London last year, that was sold out within four hours.

.

obbana@theindependent.sg

Two top lawyers quit, leaving Najib’s defense team in shambles

The Independent

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June 5, 2018

0

Two top lawyers quit, leaving Najib’s defense team in shambles

Two top lawyers, prosecutor Datuk Mohd Yusof Zainal Abiden and senior criminal lawyer M. Puravalen have discharged themselves from Najib Tun Razak’s legal team said The Star today.

Two more lawyers, Datuk Harpal Singh Grewal and M. Athimulan withdrew from Najib’s defence team on May 21 following the raids on the ex-PM’s houses.

At this rate, it will tough for Najib to secure top-notch lawyers, as advised by former deputy PM Anwar Ibrahim last month.

The lawyers told The Star the separation was mutual and was executed on Monday (June 4).

“No comments on the decision except to say that it was an amicable parting,” said the lawyer with over 35 years’ experience.

Anwar had commented on Najib’s future cases to calm a rowdy crowd in Penang that clearly wanted swift action taken against the fallen PM.

“My advice to him: Look for a good and intelligent lawyer,” said Anwar to the cheers of the crowd in Penang.

Anwar’s statement clearly indicates that Najib Razak would face charges but the government is not going to rush putting Najib on trial.

“The rule of law must be followed,” he told a crowd where some rowdy elements seemed to think otherwise.

Anwar also said the Pakatan Harapan government wanted a judicial body that was free from political meddling.

“Judges should not become political tools. We cannot tell the judges what to do. They must have all the freedom to decide on their rulings,” he said with the attendance cheering.

“This is what we should expect from a country that follows the laws in this age of ‘reformasi’ (reform)” he said.

Malaysia’s anti-corruption agency the MACC has reopened its investigation, initially focusing on how RM42 million went from SRC International to Najib’s account.

SRC was created in 2011 by Najib’s government to pursue overseas investments in energy resources and was a unit of 1MDB until it was moved to the Finance Ministry in 2012.

Home buyers may buy smaller units because of certain government policies

Property

The Independent

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June 5, 2018

0

Singapore Business Review reported yesterday that home buyers ditched costly units during weekend launches and that only one out of four projects launched over the weekend (120 Grange) sold over 50 per cent of its units.

The article referred to a JP Morgan report which said that during the weekend, four residential projects were launched concurrently as developers attempted to clear part of their inventories ahead of the one-month-long school holidays and a sizeable launch pipeline by competitors of 14,000 units over the next 6-12 months. JP Morgan said that the sales take-up was mixed, with the better-located and better-priced projects achieving more decent take-up rates.

The article noted that three out of the four projects achieved record-high pricing for their respective locations as developers continued to target a 15-20% profit before tax (PBT) margin despite getting land at a competitive price. This is similar to past launches where smaller units with lower absolute price quantum continued to sell better, which suggests to us buyer profile is dominated by investors.

Chief mortgage consultant at icompareloan.com, Paul Ho, however feels that this is not a definite trend.

“Smaller units are selling better not primarily because there are more investor buyers, there could also be a considerable amount of home buyers who are buying smaller condo units, There is no indication nor data to suggest that investors are buying the smaller units, though that can be the case,” he said.

JP Morgan suggested that the relatively subdued take-up for Affinity At Serangoon and The Garden Residences, which are just five minutes away from each other, implied that increased options for home buyers will slow sales amid rising competition from several projects to be launched within the locality. Mr Ho however noted that The Affinity at Serangoon and The Garden Residences are not near to MRT stations.

“For the Affinity at Serangoon, their plot is rather triangular in shape, I’m not sure how much of that plays into the psyche of the property buyer. Their pricing of around $1500 per square feet is very expensive considering that there are cheaper freehold options such as the kensington park condominium that goes for much less. These properties will need to have some “superlatives” to be able to command that premium.

Also the Affinity at Serangoon encourages direct developer sale, this may also lead to a poorer response as there is no incentive for the property agents to market their new launch condominium. Property agents build dedicated websites for each new launch and then spend a lot of money on advertising these new launches, these increases the catchment of customers and lead to better sales.”

Mr Ho said that developers have been withholding launches in 2018 and that this has led to take up surpassing launches. This in turn, reduces the vacancy rate of completed units.

“I guess the developers are waiting for the market to further pick up and sentiments to rise, so as to be able to price their units at even better prices, Mr Ho noted.

“When we have a sell out condominium launch, it probably gets reported a lot more than those that did not do so well. So you are likely to get headlines that scream, “Tapestry fully sold out on launch day” than, “Affinity at Serangoon opens their showroom to zero sales”, hence the market, being the Sentiment driven market that it is, is likely to hear 10 good news and maybe 3 bad news, will start to feel that the market is picking up, regardless of whether these are correct or not. And the general feel good factor will also lead sellers to withhold selling (if they are not in a rush) or raise asking prices.

“Mass market launches are usually unable to price with the rarity factor, hence any superlatives, such as Private Lift lobby, largest lobby or things such as “park your car at your doorstep” where you have a special car lift, those kind of superlatives that adds to a condominium’s appeal is unlikely to be built in a non prestige location as the ability to price them at the high end of pricing is restricted by their location and snob appeal.”

Mr Ho said that no one knows for sure if home buyers are “investors”. Many younger couple do buy smaller units because they cannot afford the HDB due to the Mortgage Service Ratio which is stricter and allows up to 30 per cent of the gross income to be spent on the monthly repayment.

MSR was announced by the Monetary Authority of Singapore (MAS) and HDB in 2013, where buyers can only use up to 30% of their gross monthly income to repay their loans.

Such home buyers are however able to borrow more for a condominium given the same income due to the TDSR rule that allows up to 60 per cent (including other liability) of the gross income to be spent on the monthly repayment. This means that the rule favours the small private condominium or apartment.

“This creates an artificial demand for small price quantum private housing within reach of young couples and hence the ever escalating per square feet pricing,” Mr Ho said.

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If you are home-hunting, our Panel of Property agents and the mortgage consultants at icompareloan.com can help you with affordability assessment and with best home loans. The services of our mortgage loan experts are free. Our analysis will give best home loan seekers better ease of mind on interest rate volatility and repayments.

Just email our chief mortgage consultant, Paul Ho, with your name, email and phone number at paul@icompareloan.com for a free assessment.

Malaysia’s World Cup broadcasts covered by sponsors, what about Singapore’s?

Obbana Rajah

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June 5, 2018

1

Malaysia’s World Cup broadcasts covered by sponsors, what about Singapore’s?

On Sunday, Malaysia’s Finance Minister Lim Guan Eng told reporters that the federal government would not have to spend a single cent to broadcast the matches.

He said, “We have already obtained sponsorship from private companies totalling RM30 million and they will be able to get their returns by having their advertisements aired during the broadcast of the World Cup matches”.

The full sponsorshop of RM30 million ((US$7.54 million) allows for the broadcast of the 2018 World Cup football matches on Radio Televisyen Malaysia (RTM), the nation’s public broadcaster.

In light of this, how then can our football fans be appeased?

Mediacorp will only be broadcasting nine free-to-air matches on okto.

This year, Singtel, StarHub and Mediacorp paid a combined total of $25 million to secure the World Cup broadcast rights, and as such we able to offer it to Singaporeans at the same prices as they did in 2014 – SGD 112.35.

TISG spoke to some avid football fans:

When asked about what he thought about the World Cup 2018 being aired for free in Malaysia, Geoffrey Liew said, “I think that’s a great gesture. It’s football and also the World Cup. Would be great to have it on national tv”.

He added, “If Sg sees success in Msia in that aspect, what is stopping them from doing the same?”.

Ed Rowan Lee said, “Nothing comes for free in Singapore as Singaporeans might know. I do feel that FIFA and the broadcasters should work out on a more sustainable cost in the long run”.

He continued, “I used to be a big fan of World Cup but as the costs increase over the years, I have stopped watching it completely. I am simply not willing to be overcharged”.

He then added that others he knew resorted to online streaming of matches, even if illegal.

Other netizens were a lot harsher with their comments.

Update: Earlier today, the People’s Association announced that they will be screening matches 55 community clubs across Singapore.

The PA also added that they will be partnering Singapore Pools, Singtel and Starhub to screen 64 matches at the community clubs for free.

obbana@theindependent.sg

Singapore’s MyRepublic expands mobile network vision with new US$60M investment

The internet service and mobile network operator also said it wants to IPO in Hong Kong in about two years

Is Cash Out Refinancing a Smart Financial Move?

How Does Cash Out Refinancing Work?

When Does Cash Out Refinancing Make Sense?

Why Should Homeowners Be Wary of Cash Out Refinancing

Bottom Line

Singapore Government expected to earn over $3million with sale of medallions commemorating Trump-Kim summit

Ho Ching claims “we need to supplement CPF” as MOF Press Secretary implies CPF may not be enough as people live longer

“”For example, he wants ministers to assure people that if they had “a full working life in Singapore, in any job… when you retire at 65, you will have enough to live a good and decent life”.

“”We will make sure it happens,” Mr Han urges ministers to say, “don’t worry about the details or how we will do it.”

“But plain speaking about adequate retirement would also entail telling people some “hard truths”.”

Grab launches Grab Ventures to accelerate and invest in startups across Southeast Asia

Grab’s new accelerator Velocity will seek to partner with eight to ten growth-stage startups over the next 24 months and may invest in select startups

Trump-Kim burgers and coins to commemorate historic summit

Old Chang Kee, bringing ‘karipaps’ all the way to London

Two top lawyers quit, leaving Najib’s defense team in shambles

Home buyers may buy smaller units because of certain government policies

Mr Ho said that no one knows for sure if home buyers are “investors”. Many younger couple do buy smaller units because they cannot afford the HDB due to the Mortgage Service Ratio which is stricter and allows up to 30 per cent of the gross income to be spent on the monthly repayment.

Malaysia’s World Cup broadcasts covered by sponsors, what about Singapore’s?

Singapore News

Bakery owner says ‘landlords hold overwhelming negotiating power’, appeals to government for help

‘Do you check your helper’s luggage on her last day of employment?’ — Maid’s employer seeks advice

Singapore richer, healthier than most English-speaking countries?

Singaporeans more open to talking about death, but few take concrete steps to prepare

Business

Can Sheng Siong’s share price keep climbing after hitting an all-time high?

Singaporean man wants to quit without next job lined up, but others tell him he has options

EV car owner ignites social media frenzy as he changes BYD logo

$41K Chinese cybertruck clone blows Tesla away, says US YouTuber — with a steering wheel that slides across the dashboard

Singapore Politics

WP MP-elect Fadli Fawzi pays tribute to Faisal Manap, holds first MPS at Kaki Bukit

Harpreet Singh: WP team in Punggol is just getting started

Singaporeans weigh in with wish list for next Cabinet, the next Minister for Defence has big shoes to fill

Ng Chee Meng asks PM Wong to exclude him from government role in new leadership lineup