Advisory Committee on Money Lending to release report soon
The Law Ministry will wait until a final report is submitted by the Advisory Committee on Money Lending before deciding on guidelines on appropriate conduct for debt collectors. The report is expected to be in by the first quarter of this year. Senior Minister of State for Law Indranee Rajah said this in Parliament on […]
Buyers must now get HDB loan letter earlier to book flat
Public flat buyers who want a Housing Board loan now have to get their official loan eligibility letter at an earlier stage. This is to avoid situations when buyers book a flat first but are then unable to get a sufficient loan for it, said the HDB in a statement yesterday. From this month’s Build-to-Order […]
UOB’s Q4 profit up 1.7%, above expectations on strong loan growth
United Overseas Bank, Singapore’s third-biggest lender, posted a 1.7 per cent rise in quarterly profit on the back of strong loan growth, beating analysts’ average forecast. UOB said net profit for the October-December period came in at S$786 million, above an average forecast of S$759 million from six analysts polled by Reuters. It reported a […]
Singapore bank lending falls, credit card debt up in December
Bank lending in Singapore fell in December from November in a sign that economic activity could be slowing down. Total loans and advances fell to S$607.96 billion at the end of December from S$608.17 billion at the end of November, according to the Monetary Authority of Singapore’s (MAS) latest monthly statistical bulletin. Banks lent more […]
Taking a 3rd HDB loan? Pay market rate, says Minister Khaw
The Housing and Developmental Board (HDB) may grant a third housing loan to home owners – but only in exceptional instances, and at the market rate, said Minister for National Development Khaw Boon Wan on Tuesday (Jan 21). In a Parliamentary question, MP Zainal Sapari had asked about HDB’s rationale for imposing a higher interest […]