Tuesday, August 31, 2010

Early stage breast cancer - She has 3 policies but no coverage

The above was the title of the article in today's The New paper - August 31 2010. This lady was diagnosed with ductal carcinoma in situ (DCIS) in her right breast which is stage zero, early stage breast cancer. The condition is considered non-invasive which does not fall into the category of critical illness. She was upset that her critical illness insurance policies did not pay out the claims.

Do note that the critical illness definition is standardised in Singapore's

Thursday, August 26, 2010

Money Saving Tip - Sample before Purchase

How often have we bought something based on recommendations from friends or product reviews we read in the magazines or forums?
Perhaps the salesperson was very good at what he/she does and promoted more products than we intended to buy?

How often have we spent and regretted these purchase decisions?

How often have we wished that we could get samples of the products before we make the purchase?

Well, now you can!

Monday, August 23, 2010

Higher bonuses for your insurance policies

Better bonuses for some insurance policyholders - Payouts from Income, AIA and Prudential up as economy rebounds (The Straits Times 23 Aug 2010)

As reported in the newspapers today, if you are a policy owner of participating whole-life insurance or endowment savings policies from NTUC Income, AIA or Prudential it is good news for you as the bonuses to be paid towards accumulating your cash values is higher due to a strong economic rebound that started late last year.

Not all companies have announced higher bonuses though, Manulife Singapore, was reported as one of the insurers that will not be adjusting yearly bonus payouts this year. 

Will this high bonus payout continue? 

Tuesday, August 17, 2010

Best Paying Jobs in Singapore

Ever wondered what are the highest paying jobs in Singapore?
Which career has the highest salary?
If you are motivated by money and want to know which career pays the most, here is a list of the Top 100 jobs in Singapore that gives the highest gross monthly wage.Bonuses and shared profits are excluded.

Friday, August 13, 2010

tenCube - The Singapore $15million company

Singapore start-up tenCube, the company behind WaveSecure technology has been acquired by McAfee for an undisclosed sum, with sources quoting the fee to be around $15million! WaveSecure lets mobile phone users locate, lock, back up and wipe the data from their phones in case they fall into the wrong hands. You can even call the person who found/stole/bought your mobile phone if a new SIM card is inserted, how cool is that?!

The acquisition was reported in The Straits Times on July 31 and on Aug 11, Digital Life ran a cover on the takeover and interviewed one of the founders and tenCube's CEO Darius Cheung. This guy is only 29 years-old! Same age as me and I have not even sold anything that is worth $1.5million let alone $15million!

Lessons learnt?....

Sunday, August 8, 2010

Leanna Archer - 14 year-old teen makes $680,000 a year from home!

Read about Leanna Archer, a 14 year-old girl from US making money, $680,000 a year to be exact, from home in The Straits Times 7 Aug 2010 - Teen makes $680,000 a year

Leanna Archer's family has been using home-made all-natural hair products for two generations. As she often got compliments on her hair and questions on what hair products she used, she struck upon the idea of commercializing the home-made hair products at the grand old age of EIGHT years old. 

She started her business online, selling the home-made pomade. Now, her all-natural hair-product line has 14 products from shampoos to hair mist and is sold at health food and beauty stores in the US.

Glad to read that despite success in her business at a young age, business is not her life. She balances her schoolwork and her business with the help of her family and has set her sights on Harvard Law school. She is also raising funds for impoverished children from Haiti, where her great-grandmother is from. She is also a motivational speaker inspiring other young people to fulfill their dreams. In fact, she is in Singapore to speak at a forum entitled what Makes A Young Champion held in conjunction with the Youth Olympic Games.

Lessons I learnt from reading about her?

Tuesday, August 3, 2010

Singapore's richest families and individuals

The wealthiest families and individuals in Singapore have become richer due to a resurgent Singapore economy that is set for record growth as reported in Singapore's Richest - The Straits Times 30 July 2010 
The net worth of Singapore's 40 richest people had grown by 17% to US45.7 billion in the latest Forbes Singapore's 40 Wealthiest

Below is the list of the Top 40 Singapore's Richest families/individuals

Singapore's Richest Top 40

So what is the secret to being on the list of Singapore's top money makers?

Real Estate appears in the list more than any other industry for Singapore's richest. Real Estate is the industry that 20% of Singapore's Top 40 Wealthiest is in. If you take into consideration Property as well, the figure goes up to 30%

Second on the list of industries that Singapore's rich is in? Banking which makes up 12.5%. Followed by Investments which constitutes 10%.

Top 3 Industries the rich use to grow their money: 
1) Real Estate
2) Banking
3) Investments

Monday, August 2, 2010

Updates on Sunshine Empire

Some background information and what to do if you are a victim of the scam has been blogged about previously in my entry on Sunshine Empire

The verdict is out and the founder of Sunshine Empire James Phang Wah was sentenced to 9 years in jail and fined $60,000. Neo Kuan Huay, his wife, was fined $60,000. Jackie Choon Cheat, Sunshine Empire's  former director, was jailed for 7 years.

The sentence will offer little consolation to the victims of this massive ponzi scheme as out of the $180million amassed, only $21million has been seized by the authorities. That is only a paltry 11.6%.

If you, or anyone you know, needs to be updated on what's happening and what to do to get back your money, check out Sunshine Empire Pte Ltd FAQ on Commercial Affairs Department's website.

You can contact the CAD office at 6557 5459 during office hours. Their office hours are 8.30 am to 6.00 pm on Mondays to Thursdays and 8.30 am to 5.30 pm on Fridays.