Jamus says scam victims should not bear more than $500 in losses; banks and telcos to bear the rest
In Parliament, WP Jamus Lim suggests that scams victim should not have to bear more than S$100 to S$500 in losses, with banks and telcos bearing the rest of the costs instead. Jamus Lim describes the Monetary Authority of Singapore’s (MAS) loss-sharing framework for phishing scams as “fundamentally unfair”. Under this framework, financial institutions and […]
Singapore is the only non-oil producing country to benefit from our reserves for our annual budget
The most unique thing about Singapore’s finances is that we get a significant amount of money each year from our reserves, that can be spent for the good of Singaporeans, President Tharman said in a Facebook post (8 Jan 2024) This is an outstanding fact, he said. It is outstanding because we are the only country […]
Singapore Retains World’s Top Maritime Centre For 10th Consecutive Year
Singapore retained its lead as the world’s top maritime centre in the Xinhua Baltic International Shipping Centre Development (ISCD) Index. This is the 10th consecutive year that Singapore has achieved this. The latest Xinhua-Baltic ISCD index published this year by the Baltic Exchange and China’s Xinhua News Agency, ranked Singapore as the leading maritime centre […]
Jamus Lim’s flawed argument on the second key: he might not have read the Constitution
At the recent Parliament sitting, Prime Minister Lee Hsien Loong explained to WP Jamus Lim that CPIB’s reporting line has two keys, first to the PM and then the President. In a subsequent Facebook post, A/P Jamus Lim of the Workers’ Party (WP) agreed with the need for two keys, but disagreed that they should […]
Corrections and Clarifications: Fact-checking Mr. Lee Hsien Yang’s Facebook Post
The Ministry of Law has issued corrections regarding false statements of fact made in a Facebook post published by Mr Lee Hsien Yang on July 23, 2023. The Ministry of Law has pointed out that the Facebook post contains several false statements of fact. Firstly, Mr Lee Hsien Yang made an inaccurate statement that the […]
Expired vaccines are an insurance premium we paid to stave off catastrophic consequences: Ong Ye Kung
The Government knew early on during the COVID-19 pandemic that vaccines would provide us with a safe exit from the pandemic. Hence the mass vaccination strategy. However, without sufficient doses of vaccines, our mass vaccination strategy would have been a non-starter, as Health Minister Ong Ye Kung said in Parliament. COVID-19 was a new virus. […]
PSP wants 100% of NIRC, WP 60%, or even 70%. What if our forefathers had wanted more NIRC?
It is said that without a vision, the people perish. Visionary leaders take care of the present with their eyes on the future as well so that the people can be future-ready. Singapore introduced the NIR framework back in 2008. The framework allows the Government to treat 50% of net investment returns as government revenue […]
In the wake of the collapse of FTX, here are some misconceptions
The FTX Exchange (“FTX”) was a centralized cryptocurrency exchange with derivatives and leveraged products. FTX was founded in 2018 by Sam Bankman-Fried, an MIT graduate and former Jane Street Capital international exchange-traded funds trader. Due to its collapse, many misconceptions have arisen, so the Monetary Authority of Singapore (“MAS”) released a statement on November 21 […]
Resident in Sengkang hurt her shoulder when the elevator suddenly rose to the top floor
A resident’s shoulder was injured… An elevator at Sengkang failed and suddenly rose to the top floor, which caused an injury to a female resident during the ride, and it was suspended for three months by the Workers’ Party-run Sengkang Town Council. According to Mr Chua, a resident at Block 158D Rivervale Crescent, the elevator […]
Should Buy Now, Pay Later scheme be allowed for Migrant Domestic Workers?
Responding to a Parliamentary Question (“PQ”) on the Buy Now, Pay Later (“BNPL”) scheme Filed by MP Mr Desmond Choo on 5 April 2022. The Monetary Authority of Singapore (“MAS”) assessed that the BNPL scheme does not pose any significant risks of consumer indebtedness and will continue to monitor the situation. However, mobile phone retailers […]