REVERSE ANNOUNCEMENT

TRUTH # FACT

100% DEPOSIT GUARANTEE

REDUCED  TO

S$50,000  DEPOSIT INSURANCE

Deposit insurance limit to be raised to $50,000

CLAIRE HUANG

clairehuang@mediacorp.com.sg

SINGAPORE

Singapore started the scheme in April 2006 to protect ordinary depositors should a bank or finance company go under.

In a statement on Friday, the MAS said that it will go ahead with plans to raise insurance coverage from the current $20,000 to $50,000 for each depositor at each member bank.

That means if a depositor has at least $50,000 in a bank that folds, he would get back a maximum of $50,000 instead of $20,000.

The MAS said the move was made following public consultation. Members of the public had asked for a higher coverage of $100,000. However, it pointed out that the incremental benefit is small and may not justify the cost if the amount is over $50,000.

Some 90 per cent of depositors will be covered under the scheme.

The MAS also plans to include deposits of other non-bank depositors, such as sole proprietorships and partnerships, under the scheme.

It said it did consider insuring only certain types of businesses and excluding companies but this was not ideal. There was difficulty in setting a common criteria that applied to the diverse range of businesses.

The MAS hopes to implement the revised scheme early next year.— The Monetary Authority of Singapore (MAS) plans to enhance the Deposit Insurance (DI) Scheme, including raising the insurance coverage limit to $50,000 for the individual depositor.

Welcm back...

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Gd Job Victorf!

Hope Mon Hangseng'll up +400pts.

But most likely Dow Futures'll red red...

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victorf      ( Date: 04-Sep-2010 08:44) Posted: Market works according to script written on 18th August....as always, our call is straight forward, precise and with no hindsight....remember Market is always Right....good luck :) 19-Aug-2010 12:01 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message x 0 x 0 Market finished the script yesterday and we have upgraded Market to "BUY ON DIP" mode since yesterday 18th August as it will attempt above 3000 points again for the next few weeks....not much meat for shortists then.....remember Market is always Right!!! good luck :)

These are all old news.

Most "Pro Double Dip" analysts have already change side to prolong recession and you are still talking about Double Dip?

The stock market moves a lot faster than economy situation. These news have already factor into the stock market movement in the last few weeks.

Never listen to Economist Predictions to play the stock market.

Most Economists don't play the stock market, they only predict where the economy is heading based on current situation.

But the market already move before the Economists make their prediction. So their views are usually outdated.

True Traders don't listen to Economists because they make better market prediction than Economists.

Was away overseas.. watched the markets creep higher..

and US markets are up 1+% even as i write...

hope u guys capitalize on some blue chip buying..

2nd liners will have their day too..after the rotational play..

Bon3260      ( Date: 03-Sep-2010 17:31) Posted: Alexchia01, STI ended nice nice was done by BBs. U can ask Ozone2002 too. Btw, where's Ozone2002??? Who approved his leaves???   Index Last Change % High Low Time STI 3002.56 15.90 0.53% 3002.56 2977.12 17:10:02   ('',) alexchia01      ( Date: 03-Sep-2010 17:11) Posted: I love today's ending. Looks like STI is preparing for a Big Jump. I have a feeling that STI is going to Rally Big next week. It does not matter if it's a Good Stock or Bad Stock, Blue Chips or Penny Stocks, Singapore Stocks or China Stocks, they are all going to Rally. For those of you who brought this week... Next week can see many happy faces. This is just my personal feeling, don't have to take it too seriously. Good luck.

When US government starts to tax lesser, people will start to spend more....   

Alexchia01,

STI ended nice nice was done by BBs. U can ask Ozone2002 too.

Btw, where's Ozone2002??? Who approved his leaves???

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alexchia01      ( Date: 03-Sep-2010 17:11) Posted: I love today's ending. Looks like STI is preparing for a Big Jump. I have a feeling that STI is going to Rally Big next week. It does not matter if it's a Good Stock or Bad Stock, Blue Chips or Penny Stocks, Singapore Stocks or China Stocks, they are all going to Rally. For those of you who brought this week... Next week can see many happy faces. This is just my personal feeling, don't have to take it too seriously. Good luck.

Hi Friend ,   double dip until like this , very nice!! 

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the 2 nei nei  looks  like  0808.

Super Auspicious twins - Genting sp and genting hk