Mr Lee Kuan Yew, 1923 - 2015

Msmoneysense shares the grief of the nation at the passing of our Founding Father, Mr. Lee Kuan Yew.

He has dedicated his entire life to the task of nation-building that shaped Singapore’s history, turning it from a trading entrepot into the successful cosmopolitan city that it is today.

 He built up a strong defence capability to protect our sovereignty, a vibrant economy which created good jobs, a sound education system and excellent infrastructure, housing and environment. Singapore's GDP was $500 when he took over in 1965 and now it boasts a GDP of $55,000, surpassing even some other developed nations and is the envy of many. Even though Singapore had no natural resources and did not have Malaysia as hinterland, he transformed Singapore from a Third World to First World country through his unwavering determination and leadership in less than a generation.

His contributions and sacrifices will always be valued dearly by all Singaporeans.  It is his far-sighted vision, astute political judgement and strategy that laid a strong foundation for Singapore’s success. His forthrightness and intellect won Singapore many friends and allies internationally. 

This achievement has indeed enhanced the lives of many Singaporeans where we can live in racial harmony, sharing in the prosperity of the nation, and having equal and ample opportunities to pursue a fulfilling future regardless of race, language or religion. His contributions and legacy will be enduring.


We will long remember and honour Mr Lee for his many contributions. His passing is a great loss to the nation and to every Singaporean. In the year that we will be celebrating Singapore's 50 years of nation building, it will be especially poignant that he is no longer around. He will be dearly missed by all Singaporeans.


Let us carry on his legacy and continue to fly the Singapore flag high.

Standard Chartered ‘Invest or Insure’ Campaign

Be richly rewarded when you invest or insure with Standard Chartered from now to 30 June 2015.
Insure and earn 8% p.a. interest on a 3-month SGD Time Deposit (up to a maximum deposit of S$20,000) with Standard Chartered Priority Banking.

Eligibility	Earn
Take up a Prudential insurance plan with a minimum monthly premium of S$800	8% p.a interest on a 3-month SGD Time Deposit

Eligibility	Rewards
Every S$150,000 fresh funds invested in eligible products	S$250 worth of Takashimaya shopping vouchers (up to S$1,000)

Welcome Gift for New Priority Customers                 
Plus receive additional S$200 worth of shopping vouchers, exclusive rewards and Priority Banking Visa Infinite privileges when you start a Priority Banking relationship with us today.


Please refer to the website for more details.

ANZ Time Deposit Promotion

Enjoy attractive interest of 1.50% p.a. upfront with ANZ Time Deposit.

Placement Amount	11-Month ANZ Instant Interest Time Deposit Interest Rate
SGD150,000 and above	1.50% p.a.
Below SGD150,000	0.90% p.a.

Promotion is valid until 31 March 2015.


Please refer to the website for more details.

Citibank InterestPlus Savings Account Promotion

Citibank is offering up to 3.5% p.a. bonus interest on the first S$50,000 in your account if you insure, invest, spend and borrow with them.

1) Insure and earn 1.2% p.a. bonus interest
If you insure with S$250 per month for 12 months or single premium of S$25,000

2) Invest and earn 1.2% p.a. bonus interest
If you invest S$250 per month for 12 months on a regular savings plan or lump sum of S$25,000 in unit trusts

3) Spend and earn 0.1% p.a. bonus interest
If you spend S$25 on your Citibank Credit Card

4) Borrow and earn 1% p.a. bonus interest
If you take up a Citibank home loan of at least S$250,000

From now till 31 Dec 2015, receive S$200 Takashimaya shopping vouchers if you open an account and fund it with S$50,000 and complete a Personal Financial Report and Investment Risk Profile with a Personal Banker. If you fund it with S$10,000, you can receive S$20 Takashimaya shopping vouchers as a Welcome gift.

Plus, apply for 2 Credit Cards to get a free cabin-sized luggage.


Bonus interest is paid:

• Over a 12 month period for investment and insurance
• Every month whenever you spend S$25
• On the first S$50,000 in your account
• On top of your base interest

Continue to earn the bonus interest for the next 12-month period if you take up another insurance or investment.


Please refer to the website for more details.

HSBC 6-Month and 12-Month Time Deposit Promotion

Enjoy up to 1.35% p.a.* on a 6-month SGD time deposit and attractive rewards* worth up to S$450 and more.

Time Deposit Option	New and Existing	New and Existing
(SGD)	HSBC Premier Customers	HSBC Advance Customers
6-month	1.35% p.a.	1.30% p.a.

The minimum and maximum fresh funds placement amounts for the SGD TMD Promotion are S$30,000 and S$1,500,000 respectively. For placement amount greater than S$1,500,000, please contact either HSBC or your Relationship Manager.

Minimum placement amount in fresh funds	Rewards+
S$200,000	S$50 Dairy Farm shopping vouchers
S$500,000	S$150 Dairy Farm shopping vouchers
S$1,000,000	S$450 Dairy Farm shopping vouchers

Time Deposit Option	New and Existing	New and Existing
(SGD)	HSBC Premier Customers	HSBC Advance Customers
12-month	1.40% p.a.	1.35% p.a.

Minimum placement amount in fresh funds	Rewards+
S$200,000	S$80 Dairy Farm shopping vouchers
S$500,000	S$250 Dairy Farm shopping vouchers
S$1,000,000	S$650 Dairy Farm shopping vouchers

+ Only HSBC Premier customers residing in Singapore who place minimum fresh funds of S$200,000 in a new 6-month or 12-month SGD TMD during the Promotional Period are eligible to receive Dairy Farm shopping vouchers.


Promotion is valid till 31 March 2015.


Please refer to the website for more details.

Bank of China (BOC) Time Deposits PLUS Promotion

Enjoy high interest rates for fresh funds with Bank of China on SGD and RMB Time Deposits with tenors of 6 to 15 months.


For SGD Time Deposits

Tenor	Promotional Rates for SGD (p.a.)
	First Cycle	Second Cycle
3 + 3 months	1.64%	1.68%
3 + 6 months	1.64%	1.70%
3 + 9 months	1.64%	1.74%
6 + 9 months	1.68%	1.76%

For RMB Time Deposits

Tenor	Promotional Rates for RMB (p.a.)
	First Cycle	Second Cycle
3 + 3 months	3.70%	3.85%
3 + 6 months	3.70%	4.00%
3 + 9 months	3.70%	4.10%
6 + 9 months	3.78%	4.25%

Promotion is valid till 31 March 2015.


Please refer to the website for more details.

Bank of China (BOC) Time Deposit Promotion

Enjoy high interest rates on time deposits only for new or existing Prestigious Wealth Management Unit (“PWMU”) clients with fresh funds no less than SGD1,000,000 in Singapore dollars currency.

Currencies	SGD	USD	RMB
Promotional rates*-%p.a.	1.60%	1.25%	3.78%
Tenor	12-month	6-month	6-month
Min Deposit Amount (SGD)	1,000,000	250,000	10,000

Welcome Gift
New PWMU clients can enjoy attractive rates and receive S$500 Takashimaya Shopping Vouchers at the same time.


Promotion is valid till 31 March 2015.


Please refer to the website for more details.

Bank of China (BOC) Multi-Currency Savings Account Promotion - Up to 1.60% Interest

Enjoy high prevailing interest rates and receive bonus interest upfront with our BOC Multi-Currency Savings Account (SGD) with fresh funds deposit.

Deposit Amount (SGD)	Prevailing Interest Rate (p.a.)	Upfront Bonus Interest Rate (p.a.)	Total Interest Rate (p.a.)
$50,000 to $99,999	0.40%	1.10%	1.50%
$100,000 to $999,999	0.48%	1.10%	1.58%
$1,000,000 and above	0.48%	1.13%	1.60%

Please refer to the website for more details.

Highest Dividend Yields among SGX Stocks with Billion Dollar Market Capitalisation

Have you ever wondered which are the SGX stocks, other than Real Estate Investment Trusts (REITS), with the highest dividend yields?

Using the SGX Stock Screener on the SGX website here, we will be able to filter out the high dividend yield stocks with market capitalisation above S$1 Billion. Below is the list of all these stocks with yields of at least 4%.

 

Company Name	Industry	Mkt. Cap.in S$ mm	P/E	Div. Yld.in %	P/BV	Consensus
Asian Pay Television Trust	Media	1,307.50	11.43	9.07	1.03	Buy
China Merchants Holdings (Pacific) Limited	Transportation Infrastructure	1,138.40	10.13	8.02	1.07	-
Venture Corporation Limited	Electronic Equipment, Instruments and Components	2,233.60	16.11	6.21	1.24	Buy
Keppel Corporation Limited	Industrial Conglomerates	15,836.40	8.42	5.51	1.53	Overperform
Sembcorp Industries Ltd	Industrial Conglomerates	7,510.80	9.573	5.16	1.34	Overperform
Singapore Press Holdings Limited	Media	6,606.70	17.85	5.10	1.76	Hold
Frasers Centrepoint Limited	Real Estate Management and Development	5,124.20	9.127	5.07	0.80	Buy
M1 Limited	Wireless Telecommunication Services	3,696.20	21.06	4.87	9.35	Overperform
SIA Engineering Company Limited	Transportation Infrastructure	4,742.10	22.97	4.75	3.75	Underperform
StarHub Ltd.	Wireless Telecommunication Services	7,613.20	20.61	4.59	51.09	Hold
Hong Leong Finance Limited	Consumer Finance	1,175.50	19.49	4.55	0.72	-
Sembcorp Marine Ltd	Machinery	6,265.60	11.19	4.32	2.11	Hold
Singapore Technologies Engineering Ltd	Aerospace and Defense	11,159.50	20.05	4.23	5.71	Overperform
SATS Ltd.	Transportation Infrastructure	3,467.30	18.86	4.19	2.50	Overperform
Mandarin Oriental International Limited	Hotels, Restaurants and Leisure	2,331.90	20.21	4.09	1.73	Buy

 
* Based on S&P Capital IQ consensus

They are from varied industries and at various P/E and P/B levels, indicating whether the stocks are expensive based on the current price levels as compared to their underlying fundamentals. Which are the ones that you are familiar with and would be willing to invest in for capital gain and dividend yields? Write to us and let us know.

Maybank Foreign Currency Time Deposit Promotion

Enjoy attractive foreign currency interest rates below when you place a time deposit of at least 10,000 units of the respective currencies with Maybank.

Currency	3-Month rates (% p.a.)	6-Month rates (% p.a.)
AUD	2.70%	2.90%
NZD	3.80%	4.30%
USD	0.80%	0.85%

Promotion is available till 31 March 2015.

Please refer to the website for more details.

Budget 2015 : What's in it for You and Me?

The widely anticipated Jubilee Budget was finally out yesterday and will be subjected to parliamentary debate in early March 2015. So, what is the main thrust of the budget and what's in it for you and me?

This budget is one that is focused on preparing the nation for a challenging future while addressing the needs of the middle class and the poor. The "sandwiched class" of middle-income Singaporeans who have young children and have to support elderly parents stand to benefit the most from this budget as they are the main ones feeling the pinch from the rising costs of living. The continued efforts focusing on helping the poor and needy signifies a society that has matured.

BUDGET 2015 AT A GLANCE

Supporting the Middle Class
- 50% personal income tax rebate, capped at S$1,000 for Year of Assessment (YA) 2015
- Lower maid levy for more families with young children below age 16, up from age 12 and elderly parents, halved to $60 a month from 1 May; this translates to $720 savings a year
- Help with childcare and education costs with top-ups to the Child Development Accounts (up to S$600), Edusave Accounts (S$150) and Post-Secondary Education Accounts (up to S$500) of Singaporean children and
- Waiver of exam fees for Singaporeans sitting for national exams in Government-funded schools will be waived from 2015 and covers fees for PSLE, GCE N, O and A levels (savings of up to S$900). Exam fees for full-time ITE and polytechnic students will also be waived.

Strengthening Safety Nets
- Quarterly Silver Support cash payouts of S$300 to S$750 each for the low-income elderly for life
- One-off seniors' bonus of up to S$600 a year
- More cash for lower-income households

Boosting Retirement Savings
- CPF salary ceiling to be raised from S$5,000 to S$6,000
- Higher CPF contribution rates for workers aged 50 to 65
- 1% extra interest on first S$30,000 of CPF balances from age 55 next year, on top of the existing 1% extra interest on the first S$60,000 of savings. This means that the first S$30,000 in Special, Retirement or Medisave accounts can earn up to 6% interest risk-free
- Higher annual contribution cap for Supplementary Retirement Scheme

Encouraging Companies to Grow & Restructure
- More grants for companies to innovate and expand overseas
- Wage Credit Scheme (WCS) extended by 2 years, but at the half the current rate
- Corporate Income Tax Rebate of 30%, up to a cap of S$20,000 on their taxes payable, extended by 2 years
- Temporary Employment Credit extended by 2 years, increased to 1% of wages in 2015
- Planned hike in foreign worker levy to be deferred

Building Skills
- $500 SkillsFuture Credit for Singaporeans aged 25 and above to spend on further education and training from 2016; will be topped up regularly and will not expire. They can either choose to go for a short course with the S$500 or accumulate more credits for more substantial training in the future
- More study awards, course subisidies, internships and on-the-job training

More Progressive Taxes /  Tax Deductions
- Higher taxes for top 5% of income-earners from 2017, with those with chargeable income of more than S$320,000 paying 22% tax, up from 20%
- Tax deductions for donations made this year will rise from 250% to 300% to encourage
- Higher petrol duties; raised by 15 to 20 cents per litre; 1 year road tax rebate of 20% for cars, 60% for motorcycles and 100% for commercial vehicles using petrol to partially offset increase

Infrastructure
- Development expenditures to grow to S$30 billion by 2020, from S$12 billion in 2010
- Changi Airport's new Terminal 5 to be almost as large as Terminals 1 to 3 combined
- Increasing hospital beds and nursing home capacity

How will the budget benefit you and your family? Do you feel that the government should do more in certain areas? Which are these areas? Let us know.

Standard Chartered e$aver Promotion

From now till 31 March 2015, enjoy up to 1.35% p.a. interest, no lock-in period and no minimum deposit, when you bring in incremental fresh funds* (compared to October 2014's average daily balance).

Deposit Balance Tier	Prevailing Interest Rate on Deposit Balance	Bonus Interest Rate on eligible Incremental Balance	Total Interest Rate on eligible Incremental Balance
<S$50,000	0.10% p.a.	1.10% p.a.	1.20% p.a.
S$50,000 to <S$200,000	0.15% p.a		1.25% p.a.
≥S$200,000	0.25% p.a.		1.35% p.a.



Promotion has been extended to 31 March 2015 from 31 January 2015.

Please refer to the website for more details.