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As above .. Gurus here any comments on this offering? 6% PA for the next 4 yrs seems good lei.. TIA..

Hi, my elder is going to private uni and we are looking to loan for her study. May I know which bank offer a better package? Also how about CPF loan compare to banks? Thanks in advance for advises

SEC settles charges with Tesla's Elon Musk, will remain as CEO but relinquish chairman role and pay stiff finehttps://www.cnbc.com/2018/09/29/sec-settles-charges-with-teslas-elon-musk-will-remain-as-ceo.html The SEC settled charges with Tesla over Elon Musk's bid to take the company private on Saturday. As part of the settlement, Musk and Tesla will pay $20 million each, and the billionaire will step down as chairman of the board. The Securities and Exchange Commission settled charges withTesla CEO Elon Musk over his aborted bid to take the company private, with the billionaire remaining as the helm of the company but relinquishing his chairman title and getting slapped with a hefty fine. The SEC's enforcement action brings to a conclusion a saga which began in early August, when Musk announced via Twitter that he had secured enough funding for a massive private buyout of Tesla. The SEC complaint alleged that in doing so, Musk issued "false and misleading" statements, and failed to properly notify regulators of material company events. Under the deal's terms, Musk and Tesla neither admit or deny wrongdoing alleged by regulators. "This matter reaffirms an important principle embodied in our disclosure-based federal securities laws," SEC chairman Jay Clayton said in a statement. "Specifically, when companies and corporate insiders make statements, they must act responsibly, including endeavoring to ensure the statements are not false or misleading and do not omit information a reasonable investor would consider important in making an investment decision," Clayton added. As part of the settlement, which is still subject to court approval, Musk will also pay a civil penalty of $20 million and give up his role as chairman of the board for at least three years. Additionally, the SEC imposed a $20 million fine on Tesla itself, which will also be expected to appoint two new independent directors to the board, and institute sweeping governance changes. "Musk tweeted on August 7, 2018 that he could take Tesla private at $420 per share — a substantial premium to its trading price at the time — that funding for the transaction had been secured, and that the only remaining uncertainty was a shareholder vote," regulators said on Saturday. However, "in truth, Musk knew that the potential transaction was uncertain and subject to numerous contingencies. Musk had not discussed specific deal terms, including price, with any potential financing partners, and his statements about the possible transaction lacked an adequate basis in fact," they added. On the day Musk made the surprise announcement, Tesla's stock surged by over six percent — catching off guard the bearish class of investors with whom the billionaire has crossed swords in the past. 'The quickest settlement in history' The swiftness with which a deal was announced on Saturday was striking. A provisional settlement between the SEC and Tesla reportedly fell apart on Thursday, which led to regulators summarily filing suit. Carl Tobias, a law professor at the University of Richmond School of Law, said it may very well be "the quickest SEC settlement in history," and one that allows both sides to claim a semblance of victory. According to Tobias, it appeard that "it was better for each to compromise and not drag out this dispute. All secured something they wanted and gave up something." With securities regulators frequently criticized for not imposing tighter regulation on companies, a Tesla settlement allows the SEC to look like "a strict enforcer that is protecting shareholders," Tobias said to CNBC in an email. "Musk/Tesla continue to operate a successful company and perhaps behave better in the future. All are spared litigation costs and the bad publicity that could flow from prolonged litigation." Indeed, in recent days, some investors — many of whom have been wiling to discount Musk's unconventional style in favor of his perceived vision — had begun to bail on the stock. Tesla's shares, traded on the Nasdaq, closed down around 14 percent on Friday at $264, as Wall Street begun to fret over the company's ability to raise needed capital. Meanwhile, the company bonds had been falling recently, with $1.3 billion in debt coming due by March 2019. A widely circulated New York Times interview last month, in which Musk detailed the "excruciating" personal toll of running the company, set off alarm bells and led to talk of Tesla's directors getting him a second-in-command. Meanwhile, a steady stream of staff and executive departures have added to the sense of internal turmoil. Musk's prolific use of Twitter has created several high-profile headaches for him personally, as well as the company he founded. In settling the charges, regulators faulted Tesla for not exerting more control over Musk's tweeting. "The SEC also today charged Tesla with failing to have required disclosure controls and procedures relating to Musk's tweets, a charge that Tesla has agreed to settle," the agency said in a statement. "The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla — including Musk's removal as Chairman of the Tesla board—and the payment by Musk and Tesla of financial penalties," it added. Musk's fierce war of words against short-sellers, or investors betting on the company's stock to fall, was one of the reasons he cited when he first floated the idea of Tesla going dark. In settling with Musk, the SEC said Tesla's board would be expected to "oversee" its founder's communications with investors. "The resolution is intended to prevent further market disruption and harm to Tesla's shareholders," added Steven Peikin, co-director of the SEC's Enforcement Division, in a statement.

HI All Bros and Sis, I am in the amidst of starting up new business but sad alot of things i dun really know how to approach ... Can any give some advices to me? question 1: If i doing some trading business selling some products internationally. Any good idea what is the best way to collect the payment? Hassle-free... Which bank can give me the best offer with lowest service charges? question 2: Can i accept and bank in foreign cheques? question 3: Any credit card payment scheme for my business?? thanks thanks

Hi bros, I've been calculating but not sure which is the more economical option for me. Appreciate your thoughts and advise which is an overall more economical decision. I'm currently driving a 2008 Stream, COE expiring March 2018 with $15K loan left and OMV $20,486. Is it more economical to change car now or wait till COE expire? If I were to change now, I will likely go for 5+2 cars such as Wish & Touran. Putting aside COE fluctuations, let's assume COE remains at current level from now till 2018. 1) If I wait till COE expire (20 mths fm now) Outstanding loan : $15K Scrap Value at end of 10 Yrs : $10K Nett Cost if usage : $5K Annualised depreciation : ($15K-$10K)/20 * 12 = $3K 2) If I change car now Expected selling price of existing car : $27K (is this a reasonable assumption?) So I basically loose $17K for using this car for 20 months which works out to be $10,200 annually. so which is the more "correct way" of looking at the cost of ownership? The other thing is that assuming I use the next car for 10 years, Option 1 will allow me to drive the new car till 2028 option 2 will allow me to drive the new car till 2026 how do I consider that 2026 to 2028 difference for this decision?

Touchy topic, worth a discussion since most peeps tend to say "my car".

I am not financially trained. With the situation with Greece and today's falling market, is there anything to be worried about? or is this just another day in the market? Or is this leading to something like the Asian financial crisis?

Hi all this is an old topic which i am trying to approach from a slightly different angle. How long can SGD1mio last a household based on the following assumptions; 1) Household consists of husband and wife with a teenager in local Uni (final year) 2) The teenager son/daughter cannot be depended on for any income source and is infact a current liability untill he/she is financially independent. 3) Both husband and wife have reached mandatory retirement age 4) All houselhold loans and liabilities have been paid off. The house, car etc have all been paid off 5) The household has no other source of income other than their cash savings of SGD1mio 6) Assume null balance in CPF. No value is given to money that you cant see smell or touch. 7) Everyone is in normal health with no big health issues for now. 8) The household has a japanese sedan (Toyota) 1.6l which has 5years COE left 9) The family intends to retire and live here in Singapore Based on the above, if they want to maintain their current lifestyle can they retire now and live on SGD1mio cash? How long will this last them? We had this talk with some colleagues over lunch and the estimates were quite surprising.

How many hold their wedding in high end hotel? Mine is just a catering at the Church, after wedding mass. http://www.tnp.sg/content/till-debt-do-us-part Cope the chinese version (more details) from Hawrdwarezone.

I still saw add that put this as their description?. Is that true?. Can the dealer do that?

Hi, In the midst of falling bank rates, is it worth to re-finance car loans? My car is already 1 year and 9 months old. Loan is with Maybank. any lobang or advise on re-financing?

Ever wondered why so many wealthy Singaporeans advocate paying full cash for car purchases? Ever wondered what makes your car loan so profitable that dealers add a 'loading fee' to 'push' buyers to take up loans of minimum tenures? The answer lies in the deceptively quoted interest rates. Now for the non-Finance trained among you, let me go through some basics. The key difference that we are concerned with is that interest rates for car loans (or strictly speaking hire-purchase) are quoted on a flat basis as opposed to a declining basis. Under a flat basis, the interest amount payable is computed based on the total loan amount and multiplied over the years. I am sure this is familiar to all of you who have financed a car before. But, what you may not know is that for other loans such as mortgages, the interest typically is computed on a declining basis. Under this declining method, the interest is applied on the loan amount that is left and not the whole sum loaned. Simply put, as you slowly repay each part of the principal amount borrowed, your interest payable becomes less. At this point in time, I am sure the question on everyone's minds is "So what?" Well, the implication of a flat basis interest rate is that it disguises the true or real interest rate that you are paying; making you think that you are paying a much lower interest rate than you really are. Let me provide an example: Let us assume that I buy a car at $100,000, at a full loan for 3 years. For simplicity of calculations, let us assume an unrealistic interest of 10%. Based on the flat basis, my total interest is $10,000 per year. This makes my total interest $30,000 and the total sum owed $130,000. My monthly repayment is roughly $3,611. But let me input all this into my financial calculator to obtain the effective annual interest rate (or what I call the real interest rate that I am paying). It turns out that my effective annual interest rate is a hefty 19.46% or nearly double! As a contrast, if we apply the sums above in the context of a typical mortgage, my monthly repayment would be roughly $3,226. My monthly installment is more than 10% cheaper! The effective annual interest rate that I pay on the mortgage is also a more tolerable 10.47%. Of course, I won't be listing out the exact working simply because it would probably bore everyone to tears. And, the extent of deceptiveness will vary as the numbers vary. But this does not detract from my key message: Do not be deceived by the seemingly low interest rates! As much as possible, we should all endeavor to keep the amount that we loan to a minimum. Most importantly, the next time car sales people tell you that it is good to take a loan for the car because you can reinvest your spare cash to obtain better returns, take it with a hefty pinch of salt!

[extract] The BMW Group has achieved its best ever first quarter in worldwide sales on the back of March

as above. car fully paid up. want to use it as a collateral and based on its market value to get cash. any idea which financial inst offer that? Thanks.

Hi all, I'm thinking of re-financing my HDB loan. Outstanding loan $400k. combined salary v high. Lol. Any recommended bank loan ? How about Maybank? Hong Leong?

CNA Ex-finance manager jailed 20 months for cheating SINGAPORE: A former finance manager was jailed 20 months, Wednesday, for cheating her logistics company and its subsidiary of nearly S$200,000. Koh Siew Hui, 34, who was from Premier G & U Logistics, committed the offences between June and September, last year. The slim and petite woman pleaded guilty to six charges of cheating while 25 others were taken into consideration. Koh had deceived her company into issuing her cheques after she claimed they were for payment of duties to various companies, including law firms and for IT services. The mother-of-two then converted the money, which amounted to between S$5,000 and S$47,000 each time, for her own use. She was also convicted of forging the company's cheques and later depositing the money into her personal and family members' accounts. She has since made full restitution to the company. She could have been jailed up to 10 years and fined for each charge. - CNA/cc

....then how come he did not see 2007/2008/2009 coming? ....then how come he invested big time into UBS and Citigroup, only to see their stock prices laosai, and then divest their stake at much lower prices, making Singapore a global laughing stock? Being a lesser mortal, i am not supposed to understand how these top GIC brains worked as i do not have an advanced degree from MIT. But i only want to understand how Tony Tan can make such mistakes. If Tony can convince me and others who are wondering the same thing, he has got our vote to "safeguard" our reserves.

any1 knows any as stated in the title?? wanna trade in my car and get another car 2nd hand ya.........

UOB just up my interest but anyway my lock-in period is over, i remember there was a website to show the comparison of interest rates of different bank in Singapore. Anyone knows it or any good recommendation? Anyone lately just re-finance? can advise? I remember i paid some stupid admin charge for re-financing, is it a must?

hey forum mates, anyone can enlighten me the difference between corporate sales and corporate finance? thanks!

i'm currently on the lookout for car finance for a 08/2011 toyota starlet..most finance company i called up told me: 1. haf to pay an agreement fee of S$300-$500 (for taking up the loan) 2. haf to pay a fee of about $200 (admin charges) for them to full settle the outstanding finance of the direct owner is it true? can any of the experts here help me do a breakdown of the $$ i gotta fork out for 1st payment? (other then 1st installment..) or got any finance company to intro? thanks..

Source: http://www.channelnewsasia.com/stories/sin.../346878/1/.html By Chio Su-Mei, Channel NewsAsia | Posted: 10 May 2008 2131 hrs SINGAPORE: Finance Minister Tharman Shanmugaratnam said the price of rice could increase in the immediate future because of Cyclone Nargis. However, he assured Singaporeans that the government is monitoring the situation. Mr Tharman said: "The unfortunate destruction of rice fields in Myanmar means that in the short-term, of course the rice price will go up even further. Hopefully it will stabilise and come down towards the end of the year. But we'll have to watch this carefully. No one knows for sure what will happen to global food prices - rice as well as other foods." Mr Tharman was speaking to reporters after launching celebrations to mark Vesak Day, at Ngee Ann City Civic Plaza on Saturday. He urged Singaporeans to maintain a peaceful, multi-racial and multi-religious society. This event is organised by the Singapore Buddhist Federation and includes an exhibition on Buddhism and a vegetarian food fair. Celebrations will take place on 10 and 11 May and is open to public. - CNA/vm

any bros here doing re-finance for coe cars? or got any lobang? pls advise. thanks!

Hi All, I have searched through almost everywhere for a car loan but proved futile under the following situation; Bad credit rating (I think so, but not a bankrupt) but with have cleared all debts in his credit bureau report, however, many major banks from the AD have rejected his loan applications. Even the "friendliest" finance company turn him down flat without offering reason (i understand that its the industry practice) or a counteroffer. And guarantor is not value to them. He has existing car to trade in too, but is high in loan, yet paid 4/10 years. Reason for changing is due to the bigger commitment and light delivery of goods. Problem further escalated when he is self-employed with his 5 room flat as his home office. Therefore, not having CPF contribution atm, thus no income prove. I can understand his need to change from his current sedan to a station-wagon/estate/mini mpv kind of car to facilitate his functions both work and home. Can anyone recommend a good, reliable and really flexible loan company?

Will be taking over my friend's car. First time owner...so need you guys to advice which insurance company is cheap and good coverage? Also, how much is the Interest rate for 2nd hand car loan? got bank to intro??