Wayne Law

This issuance represents an important debt capital market strategy to smoothen OUE REIT’s debt maturity profile, manage our hedging ratio and cost of debt. It positions OUE REIT well for a shallower rate cut cycle. #ouereit #greennotes #investmentgrade #sustainability #greenfinancing

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BREAKING NEWS: SNEF President Resigns Amid Governance Lapse! 🚨 Dr. Robert Yap, a stalwart of Singapore's business community and president of the Singapore National Employers Federation (SNEF) for the past decade, has abruptly resigned following a "governance procedural lapse" discovered during a routine internal review. But here's the burning question: What are they hiding? 🤔 SNEF's statement is a masterclass in vagueness, leaving us all wondering: - What exactly was the governance lapse? - How deep does this rabbit hole go? - What are the real implications for SNEF's 3,300 member companies and their 800,000 employees? The Ministry of Manpower (MOM) has been informed and is waiting for the review's outcome. But are they just as much in the dark as we are? And what about the financial implications? SNEF claims there are none thus far, but how confident can we be without transparency? This is not just about one man's resignation. It's about the integrity of our institutions and the trust we place in them. Should we be demanding more accountability and transparency from SNEF and similar organizations? 💬 What do you think is really going on here? Should there be a more rigorous public disclosure? How will this affect the future of SNEF and the businesses it represents? #LeadershipCrisis #Governance #Transparency #SNEF #BusinessIntegrity #Accountability

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REITs are literally rentseeking, non-value adding investors. And the fact that Singapore used to be a sure-win bet for REITs and their investors tell you that the Singapore economy was just taxing the economic growth. Does Singapore need to reform to revive the REITs - I think restructuring the economy and the local talent is more important, than making REITs work. Because they work by making others work harder for them.

"In Singapore, 1 in 10 Singaporeans aged 60 and above has dementia, and more than 100 Singaporeans as young as 40 are diagnosed with young-onset dementia each year. Given the significant risk of dementia, it is prudent to consider sufficient coverage as part of retirement planning, whether through self-funding or obtaining insurance protection." In an interview with Lianhe Zaobao, Mike Zhang, our Lead Insurance Specialist, shared four factors to consider when it comes to dementia insurance: your age, financial resources, affordability, and if you are single and do not want to burden your family. You can read it at the link below if you have a subscription. Alternatively, you can watch this Channel 8 狮城有约 Hello Singapore episode if you prefer watching an interview on the topic of dementia insurance: https://lnkd.in/gCztpWip At Havend, we have implemented a Money Back Guarantee (MBG) scheme to ensure your interests are always prioritised. If we are found to have oversold you, we will refund your money. This scheme is unprecedented in Singapore. Learn more about our Money Back Guarantee scheme here: https://lnkd.in/g-WUnCM3

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Learn everything you need to know about closing techniques at this Advanced Track session led by District Director Lincoln Heng. Gain practical tips and insights on how to successfully negotiate deals for private resale properties. From presentations to structuring investment plans for clients, elevate your skills with proven methods. Don’t miss this opportunity to stay ahead of the curve and enhance your business growth. RSVP today - https://lnkd.in/gTz9cdVK #HuttonsGroup #FastestGrowingAgency #SingaporeLargestPrivateRealEstateAgency #Empowerment #Career #HuttonsAdvancedTrack

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A timely reminder when we get frustrated at the problems we face at work. Be kinder and gentler to those who made a mistake. We all need a break sometimes. I am in fund management because in this industry, the mistakes that we may make, hardly anyone died from them. Specifically I chose to be in PE, where there are no daily marked to market volatility and typically no leverage to trigger forced selling at the absolute worst time to sell. Having help manage a PE portfolio diversified over vintage years, geography, industry, sub-asset classes over the last 20 years, I know that as long as we persevere, we can always recover from our occassional losses, and still outperform public markets in the long run. It is stressful at times, but done correctly, no one gets hurt, and everyone can retire well. Here's my heartfelt salute to all those who really deal with life and death issues in their daily work. The closest I do that is related to life and death issue is to invest in life settlement funds. #PE

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“Singapore’s strong corporate governance and predictable political environment are also appealing and help it retain a competitive edge, said Mr Chiam.” Does he know what corporate governance is? Fullerton Healthcare/Health, one of the M&A targets, has a co-founder and others facing serious charges. Minority shareholders of GEH may also dispute this statement with reference to the OCBC-GEH deal. And that’s a parent taking private a subsidiary which it owned most of the shares already. We don’t really have a efficient market for corporate control because most companies have dominant shareholders and M&As tend to be friendly in nature - often a left pocket right pocket sort of deal. Singapore sees sudden frenzy in M&A deals from around the world

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Below article is telling us the true story of love in nowadays and money is more important than anything else Are we all in upside or downside position now More Singaporeans are marrying early — not just for love, but to get a state-subsidized home. Are the city-state's housing policies putting pressure on couples? That and more in this week's free Singapore Edition newsletter: https://bloom.bg/4cTa9bf

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Are you male, 56 years old, with CEO experience and skilled in strategy and management? If this describes you, you are the “typical” new director that took on their first appointment at a top 100 SGX-listed company in 2023.   👨 👨 👩 Yes, women were appointed too. Of the record 71 first-time directors* appointed by these 100 largest Singapore-listed firms last year, 23 are women (basically, one woman director for every two male directors).   The 71 first-time directors range in age from 32 to 72.   70% were appointed as Independent Directors.   20% were appointed Non-Executive Non-Independent Directors.   And 10% were Executive directors.   Among this 2023 cohort, 80% have overseen revenue generating units, and 58% is a current or former CEO.   39% of the new directors have expertise in Strategy & Management, 38% in Finance & Investments and 7% have a Legal background.   💡 In fact, first-time directors account for 66% of all new appointments to the boards of top 100 listed companies last year, a noteworthy increase from 47% in 2022. We’ve been keeping count – in total, between 2018 and 2023, the top 100 appointed 310 first-time directors (51%) out of a total 606 new appointments.   💡 All these indicate a growing willingness to embrace fresh thinking and new skills as Singapore’s talent pool of directors and board-ready leaders expands. The new appointments also show that recent regulatory measures to encourage board renewals are being met with the spirit that was intended.   For more data points, click below, or visit our website (https://lnkd.in/g_gVEhxB) for the latest edition of the Singapore Board Diversity Review, published by Council for Board Diversity Singapore in collaboration with Nanyang Business School’s Centre for Sustainable Finance Innovation. *𝘋𝘦𝘧𝘪𝘯𝘦𝘥 𝘢𝘴 𝘢 𝘥𝘪𝘳𝘦𝘤𝘵𝘰𝘳 𝘸𝘩𝘰 𝘩𝘢𝘴 𝘯𝘰𝘵 𝘱𝘳𝘦𝘷𝘪𝘰𝘶𝘴𝘭𝘺 𝘣𝘦𝘦𝘯 𝘢𝘱𝘱𝘰𝘪𝘯𝘵𝘦𝘥 𝘵𝘰 𝘵𝘩𝘦 𝘣𝘰𝘢𝘳𝘥 𝘰𝘧 𝘢𝘯 𝘚𝘎𝘟-𝘭𝘪𝘴𝘵𝘦𝘥 𝘤𝘰𝘮𝘱𝘢𝘯𝘺. 𝘚𝘰𝘮𝘦 𝘧𝘪𝘳𝘴𝘵-𝘵𝘪𝘮𝘦 𝘥𝘪𝘳𝘦𝘤𝘵𝘰𝘳𝘴 𝘮𝘢𝘺 𝘩𝘢𝘷𝘦 𝘦𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦 𝘰𝘯 𝘣𝘰𝘢𝘳𝘥𝘴 𝘰𝘧 𝘤𝘩𝘢𝘳𝘪𝘵𝘪𝘦𝘴, 𝘶𝘯𝘭𝘪𝘴𝘵𝘦𝘥 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴, 𝘴𝘵𝘢𝘵𝘶𝘵𝘰𝘳𝘺 𝘣𝘰𝘢𝘳𝘥𝘴, 𝘰𝘳 𝘰𝘵𝘩𝘦𝘳𝘴.   #boarddiversity #diverseleadership #boardofdirectors

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For the first time in more than 20 years, a Singapore housing site gets no bids, while another site gets a highest bid that is still about 10% lower than a fair market value. Are these signs that the Singapore private property market is heading for a lull? What sort of the impact will the new Prime Location Public Housing flats have as well to the private property market? Nicholas Mak, Chief Research Officer of property search portal Mogul.sg shares his insights to these questions with me. #singapore #realestate #propertymarket #residentialproperty #landsale #governmentpolicy #bto

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Navigating the New HDB BTO Classifications Beginning in the second half of 2024, Singapore will adopt a new system for classifying HDB BTO projects, moving away from the traditional mature and non-mature town categories. BTO projects will be classified as Standard, Prime, or Plus, based on their locational attributes and amenities. This new classification will have profound implications, especially concerning the MOP and the financial dynamics of selling these properties after the MOP. #StandardFlats: These will maintain the traditional 5-year MOP, catering to those looking for more affordable housing options in less central areas. #PrimeFlats and #PlusFlats: Both these categories will feature an extended MOP of 10 years, reflecting their enhanced locations and amenities, which are expected to foster longer-term residency and community stability. (Refer to chart) Implications of Extended MOP 1. The extended 10-year MOP for Prime and Plus flats requires a significant long-term commitment from buyers, which could influence buyer demographics and possibly deter speculative buying. 2. Buyers need to plan their finances with an extended time horizon, considering the long-term implications on liquidity and the ability to leverage property for financial flexibility. 3. The resale market could see shifts in dynamics as Standard flats re-enter the market sooner than Prime and Plus flats. This staggered re-entry could affect supply and demand, potentially impacting resale prices and market vibrancy. Resale Considerations and Subsidy Paybacks Upon completion of the MOP, owners looking to sell their HDB flats may face different financial adjustments, especially if subsidies or grants were involved in the initial purchase: - Subsidy Recapture: Given the higher initial subsidies likely associated with Prime and Plus flats, the recapture or payback obligations upon resale could be substantial, directly impacting the net proceeds from such sales. - Market Valuation: Flats with a 10-year MOP may be perceived as more valuable due to their limited supply and enhanced features. However, the longer MOP could also delay potential gains from market appreciation, affecting investment returns. This new system aims to better align housing options with the needs and capabilities of various population segments while attempting to stabilize the housing market by discouraging short-term turnover of highly sought-after units. In conclusion, the reclassification of HDB BTO projects into Standard, Prime, and Plus with varying MOP requirements marks a significant policy shift aimed at addressing both market needs and social objectives. As these changes roll out, potential buyers must navigate the complexities of longer MOPs and assess the long-term implications on their housing and financial strategies. Stakeholders should remain informed and proactive in understanding how these changes affect the broader landscape of Singapore's public housing.

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Singapore’s Leadership Succession System Leadership succession plans and processes are part of Singapore's sociopolitical culture. They have been made public and are generally accepted by Mr. Wong's colleagues and other key stakeholders. This would be the third time that a smooth transition has been put in place, allowing the next generation of leaders to build on the progress made and take the country to a higher level. This is in line with research that shows that leadership succession plans and processes are crucial for ensuring the stability and effectiveness of governments and organizations. They also contribute to better outcomes, outputs, and impacts. Singapore's national leaders, from the first generation to the fourth generation, understand that effective organizations depend on strong leadership and teamwork. Therefore, they have implemented a rigorous system and continuously improved it to identify, select, test, groom, mold, and shape leaders not only for the public sector but also for other sectors and at every level of society. They have established an unprecedented succession system in the sociopolitical arena to ensure that Singapore will always have capable leaders to serve both the present and the future. Just as importantly, they are aware that many effective leaders do not volunteer themselves or aspire to be national leaders. They recognize the biblical insight that leaders are often those who may not seek leadership roles. This line of thought has been supported by thought leaders throughout history. Socrates posited that the best people have to be forced to rule. Plato suggested, in an unintuitive manner, that the most important qualification for a leader is to not desire leadership. Lao Tzu, in 'Dao De Jing,' proposed that good leaders may not seek prominence. Leadership guru Warren Bennis was quoted as saying that most people who become good leaders do not set out with the intention of becoming leaders. The national leaders of Singapore make significant efforts to cast a wide net and seek out the best talents. They inspire, influence, persuade, and encourage these talents to step out of their comfort zones and make sacrifices to contribute to society by assuming national leadership positions, thereby building a brighter future for the current and future generations. When there are honest and effective leaders, it becomes easier to earn the trust of the people. According to the 2023 Edelman Trust Barometer, the Singapore government remains one of the most trusted institutions in the world. When these competent leaders work effectively as a team, they create a synergistic effect that can have a positive and growing impact on the economy and society. This is why Singapore is ranked number one in the world for government effectiveness, according to the Chandler Good Government Index. Singapore's… https://lnkd.in/gxtqzgVG

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Asia Pacific poised to be top investment destination for family offices globally: UBS report. Compared to their global peers, the family offices in Southeast Asia also have the lowest allocations to real estate on average at 6%. Their top concerns in the next 12 years are a major geopolitical conflict and higher inflation, while higher taxes and climate change are their top concerns over the next five years. https://lnkd.in/gvfNUDb7

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I observed that there is a systemic view amongst certain sector of the estate planning professionals which downplay the strength of insurance nomination and overly emphasize the merits of using will as the (only) means to achieving wealth transfer onjective. One speaker, quite a well known practitioner from a will writing platform, even openly tells the audiences that in his practice, he will tell client to revoke all life insurance nominations and use the will to transfer the life insurance proceed. I was amonsgt the audience, and was waiting for him to explain how he could address the client's estate liquidity and creditor protection issues when he revokes client's insurance revocable and trust nominations. It was not addressed. Either out of sincere professional ignorance or selective suppressing the truth to gain personal mileage. The former is regrettable; the latter is pure unethical. Another professional from the legal fraternity , when interviewed by Zaoboa (19/5/24), openly said "actually there is no need to do insurance nomination, everything go through will." Again estate liquidity and creditor protection issues are not addressed. I retrieved the following speech by Mr Lim Hng Kiang (then Minister for MTI & Deputy Chairmam for MAS, 19/1/09) explaining the reasoning behind the life insurance nomination laws. It is important to understand the background of the estate planning tools. This is a starting point to avoid falling into the trap of professional ignorance. Every estate planning tool has its strengths and weaknesses. To revoke existing tools needs a balance and comprehensive view. Weath transfer is not only directing client's net estate from point A to B. But going from point A to B with meaningful solvency, effective liquidity and minimum waiting time. Every estate planning conversations have 2 dimensions, the legal and financial dimensions; both equally important. To strike a balance is an art. Allen

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When Beliefs and Behaviours Collide My parents left China pre-WW2, met and married in Singapore. Over 17 years, my mother gave birth to 9 children. My parents’ belief was that more children = more caregivers in their old age. This was a common belief – and behaviour – until the Sg government reframed it by proclaiming, “the more (children) you (parents) have, the less they get.” With a family of 11 in a one-bathroom shophouse, the morning peak hour was hectic. There was a bathroom schedule every morning; anyone late impacted everyone else. I grew up with the belief that I must wake up on time and be quick in the bathroom to respect others’ time. This served me well in National Service; I was never late. However, this belief causes tension in the morning school run now, triggering me if my children are slow. What are beliefs? They are only assumptions we hold as true. So they may not be true. Yet our beliefs can strongly influence our behaviours. What is/was your biggest disempowering belief? Mine was a belief that until I’ve had significant experience in a given topic, I wasn’t qualified to speak on it. When my first manager asked (tested, I suspect) me for my views on how to position a project delay to a client, I offered no opinion even though I knew what to do. I knew the client would be ok as long as we offered a get-well plan that didn’t impact their big milestones further down the road. I didn’t voice this as I believed it wasn’t my place as a rookie coder fresh out of school to give ideas on project management. Fortunately, a senior colleague highlighted this behaviour, and helped me identify and subsequently reframe my disempowering belief. Next time we are stuck in a behavioural rut, let’s ask ourselves “What beliefs are causing this behaviour? What beliefs do I need to reframe?” We may well find some kernel of untruths in ourselves. #leadership #behaviouralchange #changemanagement

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More women are being appointed to board leadership roles 🌟   At end-2023, 17% of board leadership roles* at Top 100 SGX-listed companies were held by women, an increase from 9% in 2018, finds the latest Singapore Board Diversity Review released by the Council for Board Diversity Singapore in collaboration with Nanyang Business School’s Centre for Sustainable Finance Innovation (CSFI).   9 Top 100 companies were led by women board chairs, thrice the number in 2013. (Basically, in 2023, roughly 5 out of every 100 women directors chaired a Top 100 company board compared to 14 out of every 100 male directors.)   Women also held 20% of committee chair roles – Audit, Nominating and Remuneration committees – at Top 100 companies, doubling from 10% in 2018. Remuneration committees, which oversee talent management, an increasingly top-of-mind business issue, experienced the highest rise in women chairmanship, from 9% in 2018 to 24% at end 2023.   In 2023, women also held 23% of Audit, Nominating and Remuneration committee positions, up from 14% in 2018.   Why are we excited and encouraged by this development?   Because women taking on board leadership roles shows that women directors are actively engaged in board activities and decision-making. This notable increase could also help dispel notions of tokenism, as boards, in serving their firm’s strategic ambitions, appoint the most-suited candidate with the requisite competencies for leadership – regardless of gender.   💬 Share your thoughts in the comments!   *𝘉𝘰𝘢𝘳𝘥 𝘊𝘩𝘢𝘪𝘳𝘴 𝘢𝘯𝘥 𝘤𝘩𝘢𝘪𝘳𝘴 𝘰𝘧 𝘈𝘶𝘥𝘪𝘵, 𝘕𝘰𝘮𝘪𝘯𝘢𝘵𝘪𝘯𝘨 𝘢𝘯𝘥 𝘙𝘦𝘮𝘶𝘯𝘦𝘳𝘢𝘵𝘪𝘰𝘯 𝘤𝘰𝘮𝘮𝘪𝘵𝘵𝘦𝘦𝘴.   #boarddiversity #diverseleadership #womenonboards #boardofdirectors

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Businesses should do more to protect their customers and bake consumer protection into their services. The former deputy Chief Executive of CSA, Hoo Ming Ng suggested this when I spoke with him in March. His suggestion is more relevant than ever, as Singapore agencies this week announced a shift to the protected sender ID of "gov.sg" for SMS. (Read: https://lnkd.in/gnhCXBFp) 𝟭/ 𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻 𝗯𝘆 𝗱𝗲𝘀𝗶𝗴𝗻 As Hoo Ming observed, current practices don’t offer adequate protection to customers amid today's complex digital landscape. Consider: - Money we put in a bank is protected. - Employee fraud, bank robberies don’t affect us. - Yet bank accounts can be emptied via online scams. Sure, the onus is on us to stay updated and vigilant. Yet businesses employ robust cybersecurity measures to protect their employees; Why can’t they provide stronger safeguards for the customers they claim to care about? 𝟮/ 𝗘𝗿𝗼𝘀𝗶𝗼𝗻 𝗼𝗳 𝘁𝗿𝘂𝘀𝘁 There is a pressing need for a deeper discussion about how businesses can do more to protect consumers, says Hoo Ming. A potential problem of doing nothing would be an erosion of trust in institutions and businesses - with potentially disastrous consequences. It takes great effort to tackle cybercrime and build trust. Some suggestions: - Countries must work together to tackle cybercrime. - Governments to provide a secure digital environment. - Have businesses add a "cyber" section to annual reports. 𝟯/ 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗽𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻 𝗯𝘆 𝗱𝗲𝘀𝗶𝗴𝗻 Quote that quipped my interest: 🔸“Businesses must take care of not just their corporate infrastructure, but also adopt a more customer-centric approach to protect consumer transactions, instead of pushing the responsibility back to end-users.” Today, it would be unthinkable to purchase a car without seat belts. Moreover, some car owners would even be prepared to pay more for a vehicle with additional airbags. 🤔 Perhaps a similar approach could be taken for cybersecurity. What do you think? Link to the full article in comments. 👇 𝗣𝗵𝗼𝘁𝗼 𝗖𝗿𝗲𝗱𝗶𝘁: Unsplash/Rob Sarmiento --- My name is Paul Mah and I write #EverydayTechStories 📆 Get weekly updates: www.techstories.co/updates 👀 See my other posts: www.techstories.co 🙋 Follow me on LinkedIn: https://lnkd.in/gu5EMKQg #cybersecurity

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Lawrence Wong Sworn in as New Prime Minister of Singapore: A New Era of Leadership On a momentous day for Singapore, Lawrence Wong was sworn in as the new Prime Minister, marking the dawn of a new era in the nation's political landscape. Wong, known for his astute leadership and unwavering dedication, steps into this pivotal role with a strong track record and a clear vision for the future of Singapore. Strengths and Leadership Qualities Lawrence Wong's ascent to the premiership is a testament to his formidable strengths and capabilities. As the former Finance Minister, Wong has demonstrated exceptional financial acumen, steering the nation through economic uncertainties with innovative policies and a steady hand. His ability to articulate a clear, forward-thinking economic strategy has been pivotal in maintaining Singapore’s status as a global financial hub. Wong is also renowned for his inclusive leadership style. He engages with a broad spectrum of society, ensuring that policies are not only top-down but also reflect the aspirations and needs of everyday Singaporeans. His empathetic approach during the COVID-19 pandemic, where he led the Multi-Ministry Taskforce, showcased his ability to manage crises effectively while maintaining public trust. Expectations from Wong's Leadership Singaporeans can expect a leadership style that is both pragmatic and visionary. Wong's tenure is likely to focus on enhancing economic resilience, driving technological innovation, and ensuring social inclusivity. His commitment to sustainable development indicates that environmental policies will be at the forefront, aligning with global standards and addressing climate change proactively. Wong’s team, comprising seasoned ministers and emerging leaders, is expected to bring a blend of experience and fresh perspectives. This combination is vital for crafting policies that are innovative yet grounded in practical realities. The collaborative approach within his cabinet promises to harness collective wisdom, fostering policies that are comprehensive and future-proof. A Positive Outlook Under Lawrence Wong’s stewardship, Singapore stands at the cusp of transformation. His proven track record, coupled with his ability to connect with people from all walks of life, positions him as a leader capable of navigating complexities while seizing new opportunities. Singaporeans can look forward to a future where economic vitality, social harmony, and environmental sustainability are pursued with vigor and clarity. Wong’s swearing-in as Prime Minister heralds a chapter filled with promise. As he leads the nation forward, his strengths, combined with a resolute commitment to addressing challenges, will undoubtedly steer Singapore towards continued prosperity and progress. The journey ahead is one of potential and hope, and under Wong’s leadership, Singapore is well-equipped to embrace the future with confidence.

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Are we truly ready to tackle skills mismatches head-on, or are we merely scratching the surface? The recent insights shared by SNEF president Robert Yap shed light on the pressing need for proactive action to bridge the gap between education and industry demands. While his three-pronged approach sounds promising, the devil lies in the details. 👨‍🎓💼 Closer school-industry partnerships? Absolutely crucial. But let's talk real implementation strategies, not just inked agreements. 📈🔍 Better career planning? Sign me up! But how do we ensure it's not just lip service, but a tangible, structured process benefiting every worker? 🛠️🧠 Deeper appreciation of skills? About time! But let's challenge societal norms and biases hindering the recognition of technical mastery. It's time to move beyond rhetoric and into action. Our future economy demands it, our workers deserve it, and our success hinges on it. Who's ready to step up to the plate? #SkillsMismatch #FutureOfWork #LifelongLearning #ChangeMakers

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