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Straits Times
06-07-2025
- Business
- Straits Times
Headstart On Record Podcast: What kind of insurance should I buy?
Sign up now: Get ST's newsletters delivered to your inbox Hospitalisation and critical illness insurance are vital, but beware of being upsold or paying too much for premiums. Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times. What do young people need to know when buying their first insurance package? Insurance is an essential part of 'adulting', but it can be daunting when choosing from a wide range of products on a tight budget. Some can also find that insurance agents pressure them into buying products that they are not certain they need. In this episode, ST business correspondent Sue-Ann Tan looks at what you need to know before buying insurance. Her guests are NTU undergraduate Megan Wee and DBS bank Singapore head of bancassurance Loh Wanyun. 1:40: What are the different types of insurance? 9:00 Corporate vs personal insurance 11:00 How much should I spend on insurance? 13:25 How to deal with pushy agents 15:50 How much insurance is enough to cover me? 18:05 What are investment-linked policies? 21:00 Where should I buy insurance from? Read Sue-Ann Tan's articles: Follow Sue-Ann Tan on LinkedIn: Host: Sue-Ann Tan ( suetan@ ) Produced & edited by: Amirul Karim Executive producers: Ernest Luis, Lynda Hong & Joanna Seow Follow Headstart On Record Podcast channel here: Channel: Apple Podcasts: Spotify: Feedback to: podcast@ Get business/career tips in ST's Headstart newsletter: --- Follow more podcast channels: All-in-one ST Podcasts channel: ST Podcast website: ST Podcasts YouTube: --- Get The Straits Times' app, which has a dedicated podcast player section: The App Store:
Singapore Law Watch
26-06-2025
- Business
- Singapore Law Watch
More than a third of retail investors in S'pore face problems exercising their rights: Survey
More than a third of retail investors in S'pore face problems exercising their rights: Survey Source: Straits Times Article Date: 26 Jun 2025 Author: Sue-Ann Tan About a quarter of the respondents said they met challenges in accessing company financial reports and disclosures. More than a third of retail investors, or 37 per cent, experienced difficulties in exercising their rights, according to a new survey out on June 25. The survey, which was commissioned in 2024 by the Securities Investors Association (Singapore), or Sias, included the responses of 197 people in a bid to track the progress of investors' rights in Singapore and see what more needs to be done. Sias is the main investor-led organisation dedicated to investor education and the advocacy of retail investors' rights. It engages companies and regulators to improve corporate governance and transparency. The survey was also conducted with support from the Singapore Institute of Technology (SIT) and the Singapore University of Social Sciences (SUSS). Of the respondents who said they faced difficulties in exercising their rights, 41 per cent felt their voices were not heard enough when companies made decisions. Another 24 per cent said they met challenges in accessing company financial reports and disclosures. About 22 per cent also reported encountering difficulties when voting at shareholder meetings because of unclear procedures and a lack of information. Lastly, 13 per cent said they experienced delays in receiving dividends and other things that shareholders are entitled to. SIT associate professor of accounting Kevin Ow Yong said: 'From an accounting and finance perspective, it is imperative that there are adequate safeguards to protect investors so as to improve and maintain investor confidence towards Singapore Exchange-listed companies.' The report observed that there is room for further reforms to plug gaps in investor protection under the existing framework. The opportunity for reform has also cropped up, with the ongoing review by the Equities Market Review Group, which was set up in 2024 to boost Singapore's equities market. 'While it is important for regulation to be right-sized in order to improve and increase the quality of listings in Singapore, this should not be at the expense of investor protection, which is important to support both retail and institutional investment in Singapore's equities market,' the report said. Among the things investors wanted are having better mechanisms for investor redress and dispute resolution, and ensuring fair and equal access to information. Investors also said they wanted more transparency in corporate governance practices and to strengthen safeguards against insider trading and market manipulation. Strengthening shareholders' voting rights was also important to investors. The largest proportion of investors felt that more can be done to make information more accessible. The report noted: 'These respondents elaborated that they felt their rights were compromised due to a lack of communication about significant changes in business strategy and insufficient disclosure on company investments.' For instance, one company did not inform investors about a major strategy shift, particularly after being inactive in one of its primary businesses for several years. Shareholders then raised these concerns at annual general meetings, demanding clearer communication about the company's intentions. 'In this instance, the feedback led to improved communication, with the company directly addressing their concerns, leading to enhanced transparency and investor confidence,' the report said. It noted that the fact that some respondents want greater transparency in corporate governance practices also indicates a growing demand for greater openness, accountability and clarity in how companies are managed and directed. SUSS School of Law lecturer Lance Ang said: 'The recommendations in the study are particularly pertinent in the light of the shift towards the 'disclosure-based regime' announced by the Equities Market Review Group in its ongoing review of the regulatory framework to attract listings.' He added that a disclosure-based approach that forms the basis of informed investor decision-making must be supported by private and public enforcement of disclosure breaches. These can enable investors to get compensation for losses, as well as ensure shareholders have access to information and investor education, Mr Ang said. SUSS School of Business senior lecturer Tan Eng Joo noted that the findings suggest that enforcement alone is not enough to empower investors, but that it is also encouraging that 'no single area stands out as particularly deficient'. 'This reflects a balanced approach within existing investor protection mechanisms, supporting efforts to build a resilient and inclusive capital market where all investors feel heard, engaged and safe,' Dr Tan said. Sias president David Gerald said that over the past decade, the organisation has seen a shift in Singapore where more investors are more proactive in asserting their rights. 'Through our persistent advocacy, constructive dialogue with regulators and listed companies, and empowering investors with knowledge, Sias has helped shape a more engaging investing community,' he said. 'This journey reflects our unwavering belief that protecting investor rights is fundamental to building trust and resilience in our capital markets.' Sue-Ann Tan is a business correspondent at The Straits Times covering capital markets and sustainable finance. Source: The Straits Times © SPH Media Limited. Permission required for reproduction. Print
Straits Times
13-06-2025
- Business
- Straits Times
SIA shares fall 1.9% in wake of Air India crash
Singapore Airlines holds a 25.1 per cent stake in Air India following the Indian carrier's merger with SIA-backed Vistara in November 2024. PHOTO: EPA-EFE SINGAPORE - Singapore Airlines (SIA) shares dropped on June 13, the day after an Air India plane crash that resulted in at least 265 casualties. Shares of SIA, which holds a 25.1 per cent stake in Air India, were down 13 cents to $6.90 as at 9.30am. The Straits Times Index meanwhile was down 0.5 per cent as Asian markets fell after Israel carried out airstrikes against targets in Iran, raising fears of fresh conflict in the Middle East. A day earlier, Air India Flight AI171 bound for London from Ahmedabad Airport crashed outside the airport perimeter minutes after taking off, killing 241 people on board. It also killed some people on the ground when it crashed into a medical college hostel. SIA's stake in Air India came about after the Indian flagship carrier merged with Vistara in November 2024. Before the merger, Vistara was jointly owned by Tata Sons and SIA. SIA's stake in the enlarged Air India allows it to participate directly in the fast-expanding Indian aviation market. SIA and Air India also have a codesharing partnership. In 2024, this partnership was expanded when the airlines announced the addition of 11 Indian cities and 40 international destinations to their codeshare network. The two carriers also said they will increase their weekly scheduled codeshare services to 56, up from 14, and will codeshare on each others' flights between Singapore and the Indian cities of Bengaluru and Chennai. SIA told The Straits Times on June 12 that it is 'offering full support and all necessary assistance to Air India during this time'. It adds: 'Singapore Airlines extends our deepest condolences to all passengers, crew members and their families affected by Air India Flight AI171. Our thoughts and prayers are with everyone impacted during this difficult time.' SIA in May posted a record $2.8 billion net profit for the year ended March 31, boosted by a one-off non-cash accounting gain of $1.1 billion from the Air India-Vistara merger. The Air India crash marks the first-ever complete loss of a 787 Dreamliner, which has had an exemplary safety record. The aircraft Boeing introduced more than a decade ago has become a vital source of revenue for the US planemaker, with 1,148 of the jets in service globally. 'It is still too early to tell what happened, though it seems this was not likely a manufacturing or design issue given the age and usage history of the aircraft,' Citi analyst Jason Gursky wrote in a client note on June 12. 'The stock will likely trade down until we learn more.' Boeing shares fell 4.8 per cent in New York on June 12, the biggest decline of any stock in the S&P 500 index. Sue-Ann Tan is a business correspondent at The Straits Times covering capital markets and sustainable finance. More on this Topic Air India crash latest test for new Boeing leadership Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
01-06-2025
- Business
- Straits Times
Headstart On Record Podcast: How to prepare to inherit a family business
Gaining exposure, cultural conflictions and intergenerational discussions are all part of the road to inheriting a family business. ST GRAPHICS: NATASHA LIEW Headstart On Record Podcast How to prepare to inherit a family business Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times. Family businesses have been in the spotlight, after the CDL saga that saw father and son in a tussle for control over one of Singapore's largest companies. But whether it is about inheriting family businesses or family wealth, the process is not a straightforward one. Banks and financial organisations prepare young people to take over family wealth, through programmes and even boot camps. So how does wealth planning work, and how do youths take over their family businesses? In this episode, ST business correspondent Sue-Ann Tan looks at what wealthy kids do to prepare to inherit wealth and companies. Her guests are Darren Hui, who will one day lead his family's property management business, and former national athlete Kendrick Lee who co-founded Raffles Family Office. Highlights (click/tap above): 5:35 What is family legacy planning and governance? 7:30 The challenges the next generation faces 9:00 Generational differences between father and son 10:49 What difficulties has the family office seen in dealing with multiple generations? 18:02 When did you first realise you were going to inherit the business? 21:00 Will Kendrick let his children take over the business? 22:36 Going from national athlete to family office Read Sue-Ann Tan's articles: Follow Sue-Ann Tan on LinkedIn: Host: Sue-Ann Tan (suetan@ Produced & edited by: Amirul Karim Executive producers: Ernest Luis, Lynda Hong & Joanna Seow Follow Headstart On Record Podcast channel here: Channel: Apple Podcasts: Spotify: Feedback to: podcast@ Get business/career tips in ST's Headstart newsletter: --- Follow more podcast channels: All-in-one ST Podcasts channel: ST Podcast website: ST Podcasts YouTube: --- Get The Straits Times' app, which has a dedicated podcast player section: The App Store: Google Play: Check out the Headstart chatbot for answers to your questions on careers and work trends.
Singapore Law Watch
15-05-2025
- Business
- Singapore Law Watch
SingPost to pay special dividend of 9 cents from Aussie divestment, sees underlying second-half loss
SingPost to pay special dividend of 9 cents from Aussie divestment, sees underlying second-half loss Source: Straits Times Article Date: 15 May 2025 Author: Sue-Ann Tan SingPost said the global economic outlook remains clouded by ongoing trade tensions, with US tariffs and retaliatory measures by key trading partners. Singapore Post announced a special dividend of nine cents per share after it booked a net exceptional gain of $222.2 million, largely from the recent divestment of its business in Australia. Including an interim dividend of 0.34 cents, which has been paid, SingPost shareholders are set to receive a total of 9.34 cents, the company said on May 15. Its net exceptional gain of $222.2 million for the full year ended March 31 came largely from a $302.1 million gain on its disposal of its Australian logistics business, Freight Management Holdings (FMH). This was partially offset by impairment charges of $79.6 million on another business, Quantium Solutions. 'The proceeds from the sale of the Australia business have been allocated to debt reduction, shareholder returns, strengthening the group's balance sheet and funding future growth of the business,' SingPost said in its filing on the Singapore Exchange. SingPost completed the sale of FMH for A$1.02 billion (S$853 million) in March this year. SingPost board chairman Simon Israel said: 'The transaction has crystallised the unrealised value of the business, bringing forward the unlocking of value and returning capital to shareholders.' Net profit for the full year stood at $245.1 million, up 212.9 per cent from $78.3 million the previous year. But excluding the net exceptional gain, underlying net profit fell 40.3 per cent to $24.8 million. For its second half-year, SingPost posted an underlying net loss of $0.5 million, reversing from a $28.1 million profit in the same period last year. Singpost shares fell 9.45 per cent, or six cents, to 57.5 cents as at 9.20am, after its results announcement. 'This downturn reflects the intensifying challenging and uncertain conditions in the global logistics sector,' the company said. SingPost said the global economic outlook remains clouded by ongoing trade tensions, with US tariffs and retaliatory measures by key trading partners. 'In the logistics sector, the impact has been particularly pronounced. Cross-border logistics volumes have come under pressure. This, along with geopolitical tension, has led to a more uncertain and challenging operating environment,' it said. SingPost added that these challenging conditions intensified in the second half of the financial year and are expected to persist into the coming financial year. But it also noted that after the divestment of the Australia business, the group has taken steps to sharpen its focus on its core business including streamlining its operations to right-size the cost base. The international cross-border business has been reintegrated into the Singapore postal and logistics business to achieve business synergies and drive operational efficiencies, it said. Efforts are also under way to strengthen the Singapore postal and logistics operations for greater efficiency, with a $30 million investment in a new automation system to expand processing capacity for small parcels at the regional e-commerce logistics hub facility. SingPost's full-year revenue also fell, to $813.7 million, a 7.5 per cent year-on-year decrease, primarily driven by headwinds in its international segment, it noted. On the other hand, the Singapore segment registered a modest increase of 2.9 per cent in revenue to $326.7 million. This was underpinned by the property business, which recorded a strong 11.9 per cent increase in revenue. SingPost added that its strategic review and reset is ongoing. It had said earlier that it is undergoing restructuring to optimise its operations and corporate functions. Seven executives were reported to have left the company amid the restructuring in April. These include head of strategy and communications Lee Eng Keat, group chief people officer Sehr Ahmed, group chief information officer Noel Singgih, chief sustainability officer Michelle Lee and chief information security officer Audrey Teoh. The restructuring is 'the result of prolonged macroeconomic challenges facing the business, including intense competition', SingPost had said in a February statement, adding that the exercise is not correlated with previous incidents and whistleblowing reports. SingPost said at the end of 2024 that it had received whistleblowing reports that revealed cases of data falsification at the company's international business unit. Three senior executives – group chief executive Vincent Phang, chief financial officer Vincent Yik and international business unit CEO Yu Li – were sacked for mishandling the reports. All three have hired lawyers and are contesting the decision. Sue-Ann Tan is a business correspondent at The Straits Times covering capital markets and sustainable finance. Source: The Straits Times © SPH Media Limited. Permission required for reproduction. Print
