I was just thinking.. The average Singaporean's wealth was or going to be decimated by their involvements with products from overseas, primarily the US. Why is it that home spun companies were not able to fill in this need. For example, if AIA sees it profitable to set up shop here, what are the likes of Great Eastern or NTUC INCOME doing with their market share ? Why is it that they are so popular that they garner a large share of the domestic market ?
In the same vein. the banks seems to be distributing derivatives products such as the Lehman Minibond series which are widely held. Couldnt our local banks structure products that are more responsible ? The need (rather than the greed of earning 5 percent or more) for their retirement nesteggs is driving them there. I feel strongly that the paltry sums offered by the local banks, is not necessary as their earnings will show you. How about our local wealth funds? They claim to earn 18 percent for the last donkey years, shouldnt they be handling some of the products and share their expertise in securing a higher yield. All talk and no positive action is not comforting.
The SGX lists alot of Mainland Chinese companies which are often in the news for failing to meet accounting standards. It appears to me that Singapore is just a big time reseller.
In the same vein. the banks seems to be distributing derivatives products such as the Lehman Minibond series which are widely held. Couldnt our local banks structure products that are more responsible ? The need (rather than the greed of earning 5 percent or more) for their retirement nesteggs is driving them there. I feel strongly that the paltry sums offered by the local banks, is not necessary as their earnings will show you. How about our local wealth funds? They claim to earn 18 percent for the last donkey years, shouldnt they be handling some of the products and share their expertise in securing a higher yield. All talk and no positive action is not comforting.
The SGX lists alot of Mainland Chinese companies which are often in the news for failing to meet accounting standards. It appears to me that Singapore is just a big time reseller.
