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Thread: Significant Singapore News

  1. #6
    Join Date
    Mar 2009
    Posts
    10,698

    Default Public transport fares to increase by 2 to 5 cents from April 5 2015

    Wow! I don't how the PTC do their math, last time when oil was at >US$110 per barrel, they say need to increase say >6%, but defer 2.8% to this year.

    But now oil only US$44 per barrel! Cost has gone down by SO MUCH!
    How can this drop be insufficient to reduce that 2.8% to may be >-10%? Why still need to increase? The numbers just don't tally!

    May be they can show us all the figures and raw data and how they arrive at this 2.8% despite the FACT that oil has dropped from >US$110 per barrel to US$44 per barrel?



    Public transport fares to increase by 2 to 5 cents from April 5 2015

    By: Adrian Lim | 21 January 2015 | The Straits Times

    Bus and train fares will go up by 2.8 per cent from April 5, the Public Transport Council (PTC) said on Wednesday.

    For adult commuters, this translates to an increase of between two and five cents per trip, depending on the distance travelled. Student concessionary fares will also increase by one cent.


    Despite the hike, more than 1.1 million commuters will not see any changes in their fares. Senior citizen fares will remain the same, as will prices for existing travel concessions passes including student monthly concessions and the $120 adult monthly travel card.


    Lower-wage workers and people with disabilities, who currently benefit from a Government travel discount scheme, will also not be affected by the fare hike.



  2. #7
    Join Date
    Mar 2009
    Posts
    10,698

    Default MAS move to ease monetary policy could cause mortgage rates to rise faster

    Contradictions everywhere, like:

    * The Monetary Authority of Singapore’s (MAS) move to ease monetary policy could cause domestic interest rates to rise faster, analysts said yesterday.

    * An MAS spokesperson stressed that the adjustments in domestic interest rates will not be dependent on its latest policy stance. “Domestic interest rates are expected to rise in tandem with US interest rates, regardless of the January policy announcement."

    So who is telling the truth????

    Let's see, when MAS eased SGD, SOR and SIBOR jumped! The market voted with both hands and feets! I suppose actions speak louder than words? So we should believe in "actions" and not empty "words"?


    Analysts revise forecasts upwards for Sibor, SOR

    SINGAPORE — The Monetary Authority of Singapore’s (MAS) move to ease monetary policy could cause domestic interest rates to rise faster, analysts said yesterday as they revised upwards their forecasts for the Singapore interbank offered rate (Sibor) and swap offer rate (SOR).

    By LEE YEN NEE -
    January 29, 2015

    SINGAPORE — The Monetary Authority of Singapore’s (MAS) move to ease monetary policy could cause domestic interest rates to rise faster, analysts said yesterday as they revised upwards their forecasts for the Singapore interbank offered rate (Sibor) and swap offer rate (SOR).

    An MAS spokesperson, however, stressed that the adjustments in domestic interest rates, which will have widespread impact on homeowners and businesses here, will not be dependent on its latest policy stance.

    “Domestic interest rates are expected to rise in tandem with US interest rates, regardless of the January policy announcement.
    The actual profile of the adjustment will be market-driven,” she said. “There could be some short-term volatility in the financial markets, reflecting uncertainties over the pace of interest rate normalisation and developments in the foreign exchange market.”

    The bulk of mortgages here are priced on Sibor and SOR, which move in tandem with the United States Federal Reserve funds rate and the exchange rate between the US and Singapore currencies.

    The three-month Sibor hit a high of 0.654 per cent this month, up from 0.457 per cent at the end of last year, while the six-month SOR climbed to 0.83 per cent, from about 0.45 per cent over the same period.

    Following yesterday’s announcement, HSBC economist Joseph Incalcaterra expects the six-month SOR to rise to 1.1 per cent by the end of this year, higher than his earlier forecast of 0.8 per cent. “The MAS’ decision ... will intensify the upward pressure on SOR … For the rest of the year, the upward pressure on SOR is likely to persist particularly if the MAS adopts an even more dovish stance in April,” he said, referring to the MAS’ scheduled policy statement some two months later. “Even if that does not materialise, as we edge closer to the Federal Reserve’s first rate hike towards the end of the year, SOR is still likely to rise on higher US dollar Libor (London interbank offered rates),” he added.

    Standard Chartered economist Jeff Ng said that the three-month Sibor will likely rise to 0.95 per cent by the end of this year, marginally higher than his previous forecast of 0.9 per cent. The US Federal Open Markets Committee is expected to shed more light on its plans to normalise interest rates after its meeting overnight Singapore time.

    The MAS spokesperson added that the Government recognised that rising interest rates could affect some firms and households, and it has put in place measures to “help them adjust to this new reality”.

    For firms, the Government will continue to monitor financing conditions, and ensure that viable businesses have continued access to affordable loan financing. For households, the MAS has implemented steps to encourage financial prudence, such as the Total Debt Servicing Ratio Framework.

    “These measures have prevented borrowers from taking on excessive leverage for their property purchases, reducing the impact of eventual interest rate hikes,” the MAS spokesperson said. The authorities have also introduced regulations on credit card and unsecured credit to help individuals with credit problems avoid accumulating further debt.



  3. #8

    Default

    Quote Originally Posted by teddybear View Post
    Hello, didn't you say $308 per month is more than sufficient to cover a person's basic necessity living expenses? Why your Minister pay them $700 per month?! You lying or your Minister over-subsidizing people and wasting tax-payers' money so that they can be lazy and don't need to work??????? Is this the reason why we need GST????

    I am not stingy, I am telling you to tell your Ministers to don't be stingy, they should start taxing the top 1% earners higher TAXES to pay for all those $700 per month, U rebates, PGP, etc etc instead of raising GST and collecting additional taxes from the middle income who are already working hard to make end meets! No wonder >80% of people in Singapore do not have enough money to afford to retire after 62 years old!

    Oh by the way, for the sake of transparency, it is time you tell Singapore Department of Statistics be more transparent and tell us, how much the top 1% earn in Singapore? More than $2M a year? The top 10% figure is quite useless for taxation purposes because many tom, dick and harry FTs also top 10% earners! May be top 10% can breakdown in CITIZENS and foreigners?...............

    Hello, GST was implemented from 0% to now 7% so that the top income earners and the businessmen RICH can have tax cut of 13% !!!!!!!!!!!!!!!!!!!!!!!!! Wow! Asking middle-income people to subsidize the RICH????????


    HELLO U BLIND DICK!!! GST VOUCHERS GET THAT THROUGH YOUR THICK SKULL!!!!!!!!!

    And when u want to mis Quote have the balls to post the whole conversation! its about GST burden on people if people get enough GST vouchers to offset thier basic . READ MY BLOODY LIPS!!! "BASIC!"!!!!! NOT BUY GIFT ! NOT GO HOLIDAY! NOT GO BUY 4D!!!! its basic stuff its not a burden!!

    U want to take A ZERO INCOME PERSON AND SAY GST BURDEN!!! THE PERSON HAVE NO INCOME IN THE 1st PLACE!!! and THEY GET FREEE VOUCHERS AND HELP!!! U STUPID PRICK!

    U ARE NOTHING BUT A RICHG WHINNY PRICK WHO ARE TOO STINGY TO PAY GST!!!!!! GO PAY YOUR TAXES !!!!
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs



  4. #9

    Default

    Quote Originally Posted by teddybear View Post
    Wow! I don't how the PTC do their math, last time when oil was at >US$110 per barrel, they say need to increase say >6%, but defer 2.8% to this year.

    But now oil only US$44 per barrel! Cost has gone down by SO MUCH!
    How can this drop be insufficient to reduce that 2.8% to may be >-10%? Why still need to increase? The numbers just don't tally!

    May be they can show us all the figures and raw data and how they arrive at this 2.8% despite the FACT that oil has dropped from >US$110 per barrel to US$44 per barrel?



    Public transport fares to increase by 2 to 5 cents from April 5 2015

    By: Adrian Lim | 21 January 2015 | The Straits Times

    Bus and train fares will go up by 2.8 per cent from April 5, the Public Transport Council (PTC) said on Wednesday.

    For adult commuters, this translates to an increase of between two and five cents per trip, depending on the distance travelled. Student concessionary fares will also increase by one cent.


    Despite the hike, more than 1.1 million commuters will not see any changes in their fares. Senior citizen fares will remain the same, as will prices for existing travel concessions passes including student monthly concessions and the $120 adult monthly travel card.


    Lower-wage workers and people with disabilities, who currently benefit from a Government travel discount scheme, will also not be affected by the fare hike.
    Dont leave out the details. leh. as usual leave out the detail. this year raise IS THE DEFERRED from last year you blind bat.! and low income not impacted. student and old not impacted.

    So Rich prick like you cannot affort to pay 5c!!! WTF
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs



  5. #10

    Default

    Quote Originally Posted by teddybear View Post
    Contradictions everywhere, like:

    * The Monetary Authority of Singapore’s (MAS) move to ease monetary policy could cause domestic interest rates to rise faster, analysts said yesterday.

    * An MAS spokesperson stressed that the adjustments in domestic interest rates will not be dependent on its latest policy stance. “Domestic interest rates are expected to rise in tandem with US interest rates, regardless of the January policy announcement."

    So who is telling the truth????

    Let's see, when MAS eased SGD, SOR and SIBOR jumped! The market voted with both hands and feets! I suppose actions speak louder than words? So we should believe in "actions" and not empty "words"?


    Analysts revise forecasts upwards for Sibor, SOR

    SINGAPORE — The Monetary Authority of Singapore’s (MAS) move to ease monetary policy could cause domestic interest rates to rise faster, analysts said yesterday as they revised upwards their forecasts for the Singapore interbank offered rate (Sibor) and swap offer rate (SOR).

    By LEE YEN NEE -
    January 29, 2015

    SINGAPORE — The Monetary Authority of Singapore’s (MAS) move to ease monetary policy could cause domestic interest rates to rise faster, analysts said yesterday as they revised upwards their forecasts for the Singapore interbank offered rate (Sibor) and swap offer rate (SOR).

    An MAS spokesperson, however, stressed that the adjustments in domestic interest rates, which will have widespread impact on homeowners and businesses here, will not be dependent on its latest policy stance.

    “Domestic interest rates are expected to rise in tandem with US interest rates, regardless of the January policy announcement.
    The actual profile of the adjustment will be market-driven,” she said. “There could be some short-term volatility in the financial markets, reflecting uncertainties over the pace of interest rate normalisation and developments in the foreign exchange market.”

    The bulk of mortgages here are priced on Sibor and SOR, which move in tandem with the United States Federal Reserve funds rate and the exchange rate between the US and Singapore currencies.

    The three-month Sibor hit a high of 0.654 per cent this month, up from 0.457 per cent at the end of last year, while the six-month SOR climbed to 0.83 per cent, from about 0.45 per cent over the same period.

    Following yesterday’s announcement, HSBC economist Joseph Incalcaterra expects the six-month SOR to rise to 1.1 per cent by the end of this year, higher than his earlier forecast of 0.8 per cent. “The MAS’ decision ... will intensify the upward pressure on SOR … For the rest of the year, the upward pressure on SOR is likely to persist particularly if the MAS adopts an even more dovish stance in April,” he said, referring to the MAS’ scheduled policy statement some two months later. “Even if that does not materialise, as we edge closer to the Federal Reserve’s first rate hike towards the end of the year, SOR is still likely to rise on higher US dollar Libor (London interbank offered rates),” he added.

    Standard Chartered economist Jeff Ng said that the three-month Sibor will likely rise to 0.95 per cent by the end of this year, marginally higher than his previous forecast of 0.9 per cent. The US Federal Open Markets Committee is expected to shed more light on its plans to normalise interest rates after its meeting overnight Singapore time.

    The MAS spokesperson added that the Government recognised that rising interest rates could affect some firms and households, and it has put in place measures to “help them adjust to this new reality”.

    For firms, the Government will continue to monitor financing conditions, and ensure that viable businesses have continued access to affordable loan financing. For households, the MAS has implemented steps to encourage financial prudence, such as the Total Debt Servicing Ratio Framework.

    “These measures have prevented borrowers from taking on excessive leverage for their property purchases, reducing the impact of eventual interest rate hikes,” the MAS spokesperson said. The authorities have also introduced regulations on credit card and unsecured credit to help individuals with credit problems avoid accumulating further debt.

    DUMB is DUMB the finaince market is a free market. MAS can twig if the market get spooked it will do otherwise. Why not u dont take lehmen out and say leh! Lehman crashed. MAS didnt do shit the rates also cheong up then? coz no want want to lend! int only go down when US Step in to QE.!!

    Liar Liar pants on Fire.
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs



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