MAS reprimands HSBC for breach of Financial Advisers Act
(28 Nov) - THE Monetary Authority of Singapore (MAS) reprimanded the Singapore branch of the Hongkong and Shanghai Banking Corporation (HSBC) on Thursday for breaching section 23B(3) of the Financial Advisers Act. Under the section, a principal cannot allow any individual to provide any type of financial advisory service on...
MAS keeps close watch on debt of SG households
(SINGAPORE, 28 Nov): Some highly-leveraged households in Singapore may be vulnerable if interest rates rise or the economy slows, its central bank said, asserting it will take more steps if needed to keep household debt at manageable levels. “Despite some moderation in the overall level of household indebtedness, the level...
GIC to invest in Indonesia property with Rajawali
Nov 25 (Reuters) - Singapore's sovereign wealth fund GIC and Indonesia's Rajawali Group have agreed to jointly invest up to $500 million in equity in property projects in Indonesia, the two companies said in a statement on Tuesday. The joint venture will look at sectors including office, retail, residential and mixed-use projects...
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