Singapore

A Singapore-based hedge fund, Asia Genesis Asset Management, has announced its closure after losing most of its investors due to wrong bets on Chinese and Japanese stocks. The fund, which was once one of the best-performing macro funds in Asia, made “big mistakes” in predicting the market movements and failed to recover from its losses.  The fund’s demise has exposed …

The case involves 10 foreigners who were arrested in Singapore on Aug 15, 2023, for their alleged involvement in a massive, transnational money laundering scheme. The suspects are believed to be part of a syndicate that used forged documents and shell companies to launder money from various sources, such as illegal online gambling, drug trafficking, and tax evasion. The authorities …

S. Iswaran, the former transport minister of Singapore, was charged on January 18, 2024, with 27 offenses, including two counts of corruption, one count of obstructing justice, and 24 counts of receiving gratification as a public servant. He pleaded not guilty and was released on bail. Iswaran, 61, is the first key minister to get embroiled in a graft probe …

Online shopping addiction, also known as compulsive buying disorder, is a behavioral addiction that involves excessive and uncontrollable spending on online purchases, often resulting in financial, social, and psychological problems.  According to a 2023 study by the National University of Singapore (NUS), online shopping addiction affects about 10% of Singaporeans, with Gen Zers being the most vulnerable group. Gen Zers, …

Lazada, a leading e-commerce platform in Southeast Asia, has been dubbed as the “Amazon of the region” by many analysts and observers.  The platform, which was acquired by Alibaba Group in 2016, operates in six countries, including Singapore, where it has a dominant market share of 43%. Lazada offers a wide range of products and services, from electronics and fashion, …

The Red Sea, a vital waterway for global trade and commerce, has been under threat from the Houthi rebels, a Yemeni group backed by Iran, who have launched more than 100 attacks on commercial vessels since October 2023. The attacks have disrupted the flow of goods and services, increased the costs and risks of shipping, and endangered the lives and …

An American expatriate in Singapore learned the hard way that racism does not pay, after he was fined US$4,000 for hurling racial slurs at a Russian woman in a Hainanese restaurant. The man, who was identified as David Christopher James Roach, also faced other consequences for his offensive behavior, such as losing his job, facing public backlash, and being banned …

A former Reform Party member who spread false and libellous statements about Law and Home Affairs Minister K. Shanmugam having an extramarital affair has issued a public apology and agreed to pay the minister’s legal costs. However, the apology, which was posted on TikTok and Facebook, does not undo the damage and the harm caused by the falsehoods, which have …

IKEA Singapore announced on Dec 21, 2023, that it will absorb the 1 percent GST rate increase that will take effect from Jan 1, 2024¹. This means that the prices of its products online and in-store will remain unchanged, despite the GST hike from 8 percent to 9 percent. How will this decision affect your shopping habits? Here are some …

Singapore is a nation of coffee lovers, but not the kind you might expect. Instead of fancy lattes and cappuccinos, most Singaporeans prefer their coffee the traditional way: brewed with a sock filter, sweetened with condensed milk, and served in a kopitiam, or coffee shop. Kopitiam is a Malay word that combines kopi, meaning coffee, and tiam, meaning shop. These …