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I waiting for thaman to eat his own words
- Thread starter madmansg
- Start date
Jovial crowd as STI plummets
A JOVIAL mood prevails among the small group gathered to watch Singapore's stock market plummet.
About a dozen people, mostly older Chinese men, stand in front of two screens flashing the ailing fortunes of Singapore's bourse.
'Most of them are retired men. What they do is, they come here for intra-day profit,' explained Mr Albert Tan, 59, who says he regularly joins the group in front of two monitors, like large television screens, beside a coffee shop on the ground floor of the towering UOB bank headquarters.
After Wall Street shares suffered their worst percentage drop in 21 years, stocks on the Singapore Exchange were down more than six per cent, and almost every company on the screens showed up red.
But that did not matter to Mr Tan and the others. ...
These people are so happy when ST falls below 2000....
A JOVIAL mood prevails among the small group gathered to watch Singapore's stock market plummet.
About a dozen people, mostly older Chinese men, stand in front of two screens flashing the ailing fortunes of Singapore's bourse.
'Most of them are retired men. What they do is, they come here for intra-day profit,' explained Mr Albert Tan, 59, who says he regularly joins the group in front of two monitors, like large television screens, beside a coffee shop on the ground floor of the towering UOB bank headquarters.
After Wall Street shares suffered their worst percentage drop in 21 years, stocks on the Singapore Exchange were down more than six per cent, and almost every company on the screens showed up red.
But that did not matter to Mr Tan and the others. ...
These people are so happy when ST falls below 2000....
Yes but sorry his boss is not the SG people but Dirty Harry.
as predicted. thaman eat his words. Now all he has to do is resign.
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S'pore to guarantee all Singdollar, foreign currency deposits
Posted: 16 October 2008 2015 hrs
Photos 1 of 1
SINGAPORE: The Singapore government said it would guarantee all Singdollar and foreign currency deposits of individual and non-bank customers in licensed banks, finance companies and merchant banks.
The Monetary Authority of Singapore and the Ministry of Finance said the guarantee of up to S$150 billion will be well in excess of possible liabilities arising from the failure of any financial institution.
The guarantee takes immediate effect and will remain in place until 31 December 2010. It will also be extended to deposits placed with credit co-operatives registered with the Registry of Co-operative Societies.
Currently, there are 41 credit co-operatives providing thrift and loan services to more than 200,000 members.
The guarantee will be backed by S$150 billion of the reserves of the Singapore government.
The move follows similar action by governments around the world in recent days as they sought to deal with the current global financial crisis.
Singapore has assured that its banking system continues to be sound and resilient, but it said precautionary action must be taken to avoid an erosion of the banks' deposit base and to ensure a level international playing field for banks in Singapore.
The total amount of deposits in Singapore is understood to be valued at about S$700 billion.
Ministry of Finance and Monetary Authority of Singapore Joint Press Statement
===========
S'pore to guarantee all Singdollar, foreign currency deposits
Posted: 16 October 2008 2015 hrs
Photos 1 of 1
SINGAPORE: The Singapore government said it would guarantee all Singdollar and foreign currency deposits of individual and non-bank customers in licensed banks, finance companies and merchant banks.
The Monetary Authority of Singapore and the Ministry of Finance said the guarantee of up to S$150 billion will be well in excess of possible liabilities arising from the failure of any financial institution.
The guarantee takes immediate effect and will remain in place until 31 December 2010. It will also be extended to deposits placed with credit co-operatives registered with the Registry of Co-operative Societies.
Currently, there are 41 credit co-operatives providing thrift and loan services to more than 200,000 members.
The guarantee will be backed by S$150 billion of the reserves of the Singapore government.
The move follows similar action by governments around the world in recent days as they sought to deal with the current global financial crisis.
Singapore has assured that its banking system continues to be sound and resilient, but it said precautionary action must be taken to avoid an erosion of the banks' deposit base and to ensure a level international playing field for banks in Singapore.
The total amount of deposits in Singapore is understood to be valued at about S$700 billion.
Ministry of Finance and Monetary Authority of Singapore Joint Press Statement
CONGRATS! But now wait for some cock-and-bull story from him why he had said no need in the first place
As usual "Its an honest mistake lets move on"...
No way he's gonna say it's a mistake. He'll probably say his message was right, that banks in S'pore are safe. To guarantee the deposits was to prevent outflow of "ignorant" depositors to overseas banks offering guarantees, and so saving the status of S'pore as top financial hub. Score again lor!
No way he's gonna say it's a mistake. He'll probably say his message was right, that banks in S'pore are safe. To guarantee the deposits was to prevent outflow of "ignorant" depositors to overseas banks offering guarantees, and so saving the status of S'pore as top financial hub. Score again lor!
hahaha pa see must make himself look good....
No way he's gonna say it's a mistake. He'll probably say his message was right, that banks in S'pore are safe. To guarantee the deposits was to prevent outflow of "ignorant" depositors to overseas banks offering guarantees, and so saving the status of S'pore as top financial hub. Score again lor!
y dint he tink of dat b4 he made his earlier remark? ...
