Nearly 8 in 10 of Singapore's wealthiest investors will divest from non-sustainable firms
ESG has further climbed up the ladder of priorities of Singapore’s wealthiest or “financially abundant” investors, with 79% willing to divest from companies that are not operating sustainably.
This is likely because 91% of the financially abundant investors believe investing in companies that contribute to mitigating the effects of climate change is important.
Singapore’s FIs ready for asset quality risks: MAS
Singapore’s financial institutions (FIs) may face higher credit costs and asset quality deterioration in 2024 amidst persistently high interest rates, authorities warned.
In a report, the Monetary Authority of Singapore (MAS) affirmed that the Lion City’s financial sector maintains a strong balance sheet position and is well-positioned to deal with risks.
“Asset quality is good, and banks have increased provisioning coverage in anticipation of a potential rise in credit cost,” MAS wrote in the 2023 edition of the Financial Stability Review.
Demand rises for latest Singapore Savings Bond with 10-year average return at 3.15%
THE latest Singapore Savings Bond (SSBs) allotted on Wednesday (Mar 29) experienced a rise in number of applications, exceeding the amount on offer, after months of falling demand due to declining yields.
The April tranche of the Singapore government-backed bonds received a total of S$758.1 million in applications, compared with the total of S$261.1 million in applications for the March issuance.
A maximum of S$700 million in SSBs were offered and allotted through the quantity ceiling format.
Campaigning starts in three-way race to be Indonesia’s next president
Campaigning for Indonesia’s presidential election kicked off officially on Nov 28, with two of the three candidates pounding the ground to win over the archipelago’s more than 200 million eligible voters.
The hustings will run until Feb 10, 2024, followed by a three-day cooling-off period before voting day, which will see Indonesia choosing a new leader. President Joko Widodo is serving his second term and is constitutionally not allowed to seek another.
The three pairs in the contest are former Jakarta governor Anies Baswedan, 54, and his running mate, former minister Muhaimin Iskandar, 57; former Central Java governor Ganjar Pranowo, 55, and Chief Security Minister Mahfud MD, 66; and Defence Minister Prabowo Subianto, 72, and Solo Mayor Gibran Rakabuming Raka, 36, the elder son of Mr Widodo.