A winning combination of view, size and proximity to an MRT station recently made a five-room flat in Ang Mo Kio cross the million-dollar mark. It was sold for $1,008,888 in November.
The unit is located at Block 310b of Teck Ghee Vista estate, which was completed in 2011.
In an interview with Shin Min Daily News, Derek Yap, who is both the owner of the flat and the property agent behind the successful transaction, said it took over half a year for him to sell the unit, no thanks to the disruption caused by the Covid-19 pandemic.
Yap added that he held over 10 separate viewings for potential buyers before he found someone who was willing to fork out a seven-figure sum for it.
He explained that one of the main three attractions of the 25th-floor flat is its breathtaking view of the surrounding area. Teck Ghee Vista overlooks Bishan-Ang Mo Kio park, a lush green area with a skating ring, a fenced dog run, cafes and restaurants.
Homeowners can enjoy the fireworks display during the new year from the comfort of their unit too, he said.
Another selling point is its location, specifically its proximity to nearby MRT stations, he added. The estate is just two bus stops away from Ang Mo Kio MRT station. It's also close to the Ang Mo Kio hub, as well as several schools such as Ang Mo Kio Primary School, Ang Mo Kio Secondary School and Mayflower Secondary School.
"In the future, the [MRT] Cross Island Line's Teck Ghee Station will be near this unit too," Yap said.
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Last but not least is the flat's size. With a floor area of 121 square meters, the unit is bigger than newer BTO 5-room flats that only have a floor area of 110 square meters.
While this is the first five-room flat in Ang Mo Kio to be sold for over a million dollars, it's not the most expensive HDB unit in the area, based on the price per square foot.
Last November, a four-room Design, Build and Sell Scheme (DBSS) flat at Park Central @ Ang Mo Kio sold for $783 psf, besting Yap's price of $775 psf by a hair's width. The DBSS flat was sold for $758,888.
Meanwhile, the first HDB flat in Ang Mo Kio to command a million-dollar price tag is a jumbo flat at Ang Mo Kio Avenue 5. The unit, which combined two three-room flats, was sold for $1.03 million last year despite only have 59 years on the lease at the time of sale.
'삼성전자 인베스터스 포럼 2020' 개최
중국 반도체 진입 관련 "단기간 내 양산 어려울 것"
낸드플래시는 시장보다 적극 투자
2021년 '격전' 예고
D램 EUV 장비 적용 본격화
2030년엔 10nm 이하 D램 양산
이미지센서도 ‘초격차’
“2025년까지 6억화소 제품 출시”
파운드리 고객 2017년보다 2.5배 늘어
"TSMC보다 불리할 것 없다"
지난달 열린 반도체대전 행사장 삼성전자 부스 전경. 뉴스1
세계 1위 메모리반도체 생산업체인 삼성전자가 내년 낸드플래시에 대한 공격적인 투자를 예고했다. 최근 낸드플래시 가격 하락세에도 불구하고 기술력과 원가경쟁력을 앞세워 2~5위 업체들과의 점유율 격차를 더 벌리겠다는 것이다. 일본 키옥시아 등 경쟁사들도 최근 증설 등 적극적인 행보를 보임에 따라 내년 이후 낸드 시장에서 격전이 벌어질 것이란 전망이 나온다. 중국 메모리반도체 업체들의 시장 진입과 관련해선 "위협적이지 않다"고 평가했다.
"삼성전자 낸드투자 시장보다 상회"
1일 반도체업계에 따르면 삼성전자는 지난달 30일 열린 '삼성전자 인베스터스 포럼 2020'에서 "2024년까지 낸드플래시 시장의 연평균 성장률(CAGR)은 30~35%를 기록할 전망"이라며 "삼성전자의 낸드플래시 투자는 시장 수요를 상회할 것"이라고 발표했다. 이에 대해 시장에선 삼성전자가 낸드 가격 하락을 감수하고 높은 수율 등 기술력과 원가경쟁력을 앞세워 점유율을 확대하는 전략을 공식화한 것이란 분석이 나온다.
삼성전자와 경쟁업체 낸드플래시 기술력과 영업이익 비교. 삼성전자는 11월30일 열린 '인베스터스 포럼'에서 "같은 적층단수라도 높이가 낮아 수익성이 높다"며 "가격경쟁력을 바탕으로 높은 수익성을 기록 중"이라고 설명했다. 삼성전자 홈페이지 화면 캡처
삼성전자는 낸드플래시 관련 뛰어난 기술력과 높은 수익성을 강조하며 점유율 확대에 대한 자신감을 드러냈다. 마이크론의 176단 3D 낸드 개발과 관련해선 "같은 단수의 반도체를 만들더라도 높이가 낮아야 수익성을 높일 수 있다"며 "삼성전자는 낸드 한 덩어리(stack)에 더 많은 단(layer)를 넣을 수 있어 타사 제품보다 높이가 15% 이상 낮다"고 강조했다. 이어 "256단 낸드 제품도 만들 수 있지만 경영 전략과 고객 수요, 수율 등을 감안해 7세대(170단 이상으로 추정) 제품을 준비하고 있다"고 덧붙였다.
이날 삼성전자는 자사 낸드플래시 사업 영업이익과 경쟁업체 두 곳의 영업이익 그래프를 공개하며 "가격경쟁력에서 뛰어난 솔루션을 갖고 있다"고 강조했다.
"중국업체 시장에 뛰어들 순 있지만 단기간 내 양산 불가능"
중국 메모리반도체 업체의 시장진입과 관련해선 "위협적이지 않다"고 평가했다. 이날 발표를 맡은 한진만 삼성전자 메모리사업부 전무는 "누구나 시장에 뛰어들 순 있지만 짧은 기간 내에 양산(램프업)이 불가능하다"며 "새로운 시장에 들어서려면 시간과 자본을 투자해야하기 때문에 새로운 플레이어는 위협이 되지 않는다"고 말했다.
'기술 격차'에 대해서도 언급했다. 한 전무는 "반도체 산업은 시간이 갈수록 점점 더 어려워진다"며 "새로운 경쟁자는 우선 그런 부분(기술장벽)부터 잡아야하기에 위협이 안될 것"이라고 강조했다.
삼성전자 D램 로드맵
EUV(극자외선) 노광장비를 적용한 D램 생산에 대한 구체적인 로드맵도 나왔다. 삼성전자는 "EUV 장비를 통해 14nm D램을 양산 중"이라며 "2030년까지 10nm(나노미터, 10억분의 1m) 이하 D램을 생산할 것"이라고 밝혔다.
2025년 이전에 6억 화소 이미지센서 출시
시스템반도체의 주력 제품·서비스인 이미지센서와 파운드리(반도체 수탁생산)에 대한 전략도 공개됐다. 이미지센서 관련 발표를 맡은 박용인 삼성전자 센서사업팀장(부사장)은 "2025년 이전에 6억화소 제품이 나올 수 있을 것"이라고 말했다. 삼성전자는 지난해 세계 최초로 1억800만화소 제품을 공개한 바 있다.
파운드리와 관련해 삼성전자는 "3년 전에 비해 고객사 수가 차량용 반도체 분야에선 1.6배, HPC(고성능컴퓨팅)은 2.3배 증가했다"며 "고객군이 다양해 TSMC보다 불리하지 않다"고 강조했다.
SINGAPORE: Most households in Singapore remain financially resilient amid the COVID-19 pandemic, although those that are highly leveraged or employed in badly hit sectors may be more vulnerable as economic uncertainties persist, said the country's central bank on Tuesday (Dec 1).
In its annual financial stability review, the Monetary Authority of Singapore (MAS) also urged households to exercise prudence when taking up new debt or committing to property purchases.
It noted an uncertain outlook for the Singapore economy that “could have dampening effects on income streams”. It also expects resident unemployment to “remain elevated” next year and recovery in the labour market to be drawn out.
MAS said it recognises that some homeowners could face difficulties servicing their mortgages and has worked with the financial industry to roll out relief measures earlier this year. These measures were recently extended to support cash-strapped individuals and businesses until next year.
About 36,000 mortgage relief applications have been approved and 8,700 individuals were granted revolving unsecured debt relief as of the third quarter.
“Given the uncertain economic outlook, households should avail themselves of these support measures if needed and factor in possible volatility in future income streams when considering large purchases and loans,” the central bank said in its report.
“Whenever possible, they should also continue servicing or consolidating their existing obligations to enhance resilience against unexpected shocks.”
The report said Singapore’s household balance sheets were “relatively healthy” at the onset of the pandemic, reflecting the financial buffers built up over the years.
Household net wealth rose to 4.4 times of gross domestic product in the third quarter from 3.8 times a year ago, it cited as an example.
“While the increase is partly due to the fall in GDP, asset values continued to hold up despite the economic slowdown,” MAS said.
“Further, liquid assets such as cash and deposits continued to exceed total liabilities, providing households a financial buffer against income shocks.”
Its simulations also suggest that Singapore households’ debt servicing burden remains manageable under stress.
Government transfers and relief measures have mitigated the impact of a sharp fall in employment and incomes in the first half of the year, the central bank added.
SOME RISKS
But leverage risk has edged up even though growth in overall household debt moderated.
MAS said aggregate household debt has continued its downward trend since the introduction of cooling measures in July 2018, but nominal GDP fell by a larger margin due to the pandemic.
As a result, household debt as a percentage of GDP rose from 63.1 per cent in the first quarter to 65 per cent in the April to June quarter before hitting 67.1 per cent in the third quarter.
Other indicators that were mentioned include the credit risk profile of housing loans. This has remained sound, with macro-prudential measures encouraging prudent borrowing and improving equity buffer.
But as household resilience is tied to employment and income, credit risk for housing loans could increase further if the economic downturn persists, said the central bank.
The unsecured credit charge-off rate - a leading indicator for credit quality of housing loans - has crept up in the third quarter, suggesting that more households could face difficulties in housing payments, it added.
“Close monitoring of housing loans from more vulnerable households is necessary in the upcoming months given the expectation that the labour market recovery will be protracted.”
Turning to the property market, the report noted how rentals for private homes have moderated alongside the increase in vacancy rates.
Vacancy rates for private residential properties rose from 5.4 per cent in the second quarter to 6.2 per cent in the third quarter. Rentals declined for the second consecutive quarter during the July to September period, as the private residential property rental price index fell by 0.5 per cent.
The weakness in rentals was observed for both landed and non-landed properties.
“Should demand for rental properties continue to fall, borrowers relying on rental income to meet their mortgage instalments on investment properties could face difficulties in repayment,” said MAS.
“Prospective buyers should accordingly factor in the possibility of further weakness in rental income when committing to purchases of investment properties.”
In the 112-page report, the central bank also urged local corporates and banks to stay vigilant and prudent as an uneven economic recovery will “impinge on jobs and corporate profits”.
“The risk of financial stresses remains during this protracted recovery period. Continued vigilance and prudence therefore remain warranted,” it wrote.
미국 제너럴모터스(GM)가 사기극 논란에 휩싸인 니콜라 지분 인수 계획을 철회했다. 제너럴모터스와 니콜라는 30일(현지시각) 보도자료를 내고 기존 파트너십을 대체하는 양해각서(MOU)를 새로 체결했다고 밝혔다. 두 기업은 지난 9월 제너럴모터스가 니콜라의 픽업트럭 ‘배저’(Badger)를 생산하는 대신 니콜라 지분 11%를 받는 내용의 파트너십을 발표한 바 있다. 당시 총 20억달러(약 2조2000억원) 규모로 예상됐다. 그러나 니콜라가 실제로는 수소전기차 관련 기술이 없음에도 시장을 속여왔다는 의혹이 제기됨에 따라 제너럴모터스는 지분 인수를 미뤄왔다. 새 양해각서에는 기존에 파트너십을 맺으며 발표했던 내용이 모두 빠졌다. 니콜라는 “이 양해각서는 기존에 고려됐던 제너럴모터스의 니콜라 지분 인수나 니콜라 배저 생산을 포함하지 않는다”고 설명했다. 대신 제너럴모터스가 수소연료전지 시스템 ‘하이드로텍’을 니콜라의 세미트럭(클래스 7·8)에 제공하기로 했다. 제너럴모터스와 엘지(LG)화학의 합작법인에서 생산할 예정인 배터리 ‘얼티엄’(Ultium)을 활용하는 방안도 논의하고 있다고 두 회사는 밝혔다. 제너럴모터스는 “이에 따른 투자에 대해서는 니콜라가 선불로 비용을 지급할 것으로 예상된다”고 했다. 새로 체결한 양해각서는 법적 구속력이 없다. 니콜라는 배저 사전주문으로 받은 보증금을 모두 환불하겠다고도 밝혔다. 배저 생산 계획을 사실상 무기한 연기한 셈이다. 니콜라는 “기존에 발표한 대로 내년 말 수소연료전지로 작동하는 트럭의 시제품을 생산할 것으로 예상하고 있다”고 했다. 이날 뉴욕 증시에서 니콜라 주가는 전날보다 26.92% 떨어진 20.41달러에 마감했다. 이재연 기자 jay@hani.co.kr
지난달 수출이 2개월 만에 흑자로 돌아섰다. 반도체·디스플레이·자동차·가전 등 15개 주력 수출품 가운데 10개 품목의 수출이 증가한 덕분이다. 특히 시스템반도체와 모바일용 중소형 유기발광다이오드(OLED)를 비롯해 코로나 진단키트는 사상 최대 수출 기록을 갈아치웠다.
1일 산업통상자원부에 따르면 지난달 수출액은 458억1천만 달러(약 50조7천208억원), 수입액은 398억8천만 달러(약 44조1천551억원)로 집계됐다. 수출은 전년 대비 4% 늘었고, 수입은 2.1% 감소한 것이다.
총 수출액은 2개월 만에 플러스로 전환했고, 일평균 수출액도 6.3% 증가하는 등 2년 만에 총 수출액과 일평균이 모두 증가했다. 조업일수가 0.5일 부족했음에도 총 수출이 플러스가 된 것은 32개월 만에 처음이다. 무역수지는 59억3천만 달러(약 6조5천656억원)로 7개월 연속 흑자를 달성했다.
지난 달까지 누적 무역흑자는 390억 달러(약 43조1천886억원)로 지난해 연간 흑자 규모인 389억 달러(약 43조778억원)를 이미 넘어섰다. 코로나 확산 영향을 받은 지난 2분기 이후로 수출실적이 점차 개선되면서 11월을 기준으로 4분기 수출은 플러스 전환한 것으로 보인다.
반도체 수출 3개월째 두 자릿수↑…코로나 진단키트도 '효자'
15대 주력 품목 중 ▲반도체 ▲디스플레이 ▲무선통신기기(휴대폰) ▲이차전지(전기차배터리) ▲가전 ▲컴퓨터 ▲바이오헬스 ▲자동차 ▲자동차부품 ▲선박 등 10개 품목의 수출이 증가했다. 이 중 6개 품목은 정보기술(IT) 제품이다.
반도체는 수출이 5개월 연속 증가했다. 두 자릿수 증가세는 3개월째 이어지고 있다. 특히, 시스템반도체의 누적 수출액은 역대 최고 실적인 지난 2018년 연간 수치를 넘어서면서 수출 상승세를 이끌었다. 컴퓨터·주변기기로 분류되는 솔리드스테이트드라이브(SSD) 수출도 14개월 연속 증가했다.
산업부는 "서버용 수요가 재고 조정으로 둔화가 예상되지만, 모바일 신제품 출시와 점유율 경쟁에 따른 모바일용 수요 회복으로 메모리·애플리케이션 프로세서(AP)·이미지센서 수출이 증가했다"며 "코로나 장기화에 따른 재택근무와 온라인교육의 수요 지속으로 노트북용 반도체 수출도 호조세를 보였다"고 말했다.
9월 수출입 동향표. 자료=산업부
디스플레이는 최근 부진을 만회하며 수출 증감률과 수출금액 모두에서 올해 최고치를 경신했다. 지난달 26개월 만의 흑자전환 이후 2개월 연속 증가세다. 액정표시장치(LCD)는 OLED로의 사업전환에 따른 생산량 축소로 수출은 소폭 줄었다. 반면, OLED는 노트북·TV용 수요 확대와 신규 스마트폰 출시 덕분에 사상 최고 수출액을 기록했다.
무선통신기기는 휴대폰과 휴대폰부품 모두 수출이 증가하며 4개월 만에 플러스로 전환했다. 산업부는 "길어지는 스마트폰 교체 주기와 국내기업 중저가 제품군 확대로 국내생산 비중이 높은 '플래그십 라인업' 출하량이 감소 추세"라면서도 "세계 2위 스마트폰 시장인 인도에서 국내 기업이 점유율 1위를 달성하면서 무선통신기기 수출은 증가세로 돌아섰다"고 설명했다.
또 주목할 것은 7대 신(新)수출성장동력 품목인 바이오헬스·이차전지·화장품·농수산식품·플라스틱제품·정밀화학원료·로봇 수출이 같은 기간 모두 흑자를 기록했다는 점이다. 특히, 바이오헬스는 15개월 연속 플러스를 기록하며 호조세를 이었다. 지난 4월 이후 가파른 상승세를 보인 코로나19 진단키트는 최근 실적인 10월 수출액이 9월에 이어 2달 연속 역대 최고치를 경신했다.
지난달 주요 품목별 수출 증감률. 자료=산업부
코로나 확산에 석유제품은 부진…성윤모 "수출기업 애로사항 적극 해소"
자동차 수출은 스포츠유틸리티차(SUV)와 친환경차 수출비중 증가로 1년 만에 3개월 연속 증가세를 보였다. 선박 수출은 주력 선종인 액화천연가스(LNG) 등의 수출 통관 호조 덕분에 4개월 만에 증가했다. 가전 수출은 미국 등 주요시장의 성수기에 따른 TV 수요 확대와 유럽에서의 비대면 판매 강화로 5개월 연속 증가했다.
다만, 코로나 확산으로 인해 석유제품은 두 자릿수 감소율을 기록, 23개월 연속 수출 적자를 이어갔다. 석유제품은 저유가 영향으로 부진이 지속되는 상황이다. 또 일반기계, 철강, 석유화학, 섬유 등의 수출도 한 자릿수대 감소했다.
성윤모 산업부 장관은 "지난 9월 7개월 만에 우리 수출이 플러스로 반등한 이후 회복세가 이어지고 있고, 특히 이번 달은 총 수출과 일평균 수출이 2년 만에 모두 증가했다"며 "지난달은 전년 대비 조업일수가 부족한 가운데서도 수출이 증가한 것은 의미가 있다"고 말했다.
성윤모 산업통상자원부 장관
이어 "주력 품목인 반도체·자동차가 최근 수출 회복을 든든히 뒷받침하고 있고, 비대면경제 특수와 우리 산업의 경쟁력이 시너지를 발휘해 IT 품목이 상승세를 보이고 있는 점은 앞으로의 수출 활력 회복에 긍정적인 신호"라고 강조했다.
성 장관은 "질적인 성장도 눈에 띄는데, 전기차·OLED 같은 고부가가치 상품 수출이 이번 달에만 25%이상 증가했다"며 "중소기업 중심의 코로나19 진단키트, 화장품, 가공식품 등 신성장 품목도 연간 기준으로 역대최고 실적을 기록하며 수출의 저변이 확대되고 있는 측면은 수출 펀더멘탈이 탄탄해지고 있다는 의미"라고 덧붙였다.
그는 "지난달 발표한 '수출 디지털 전환대책'을 통해 우리 수출 시스템의 디지털·온라인화와 이를 통한 무역구조 혁신을 이룰 수 있도록 관계부처가 힘을 모아 대책을 꼼꼼히 이행해 나갈 것"이라며 "우리 기업들의 수출동력이 상실되지 않도록 수출입 물류차질 등 수출기업의 애로사항도 적극적으로 파악하고 해소하겠다"고 말했다.
Having an early start to planning for your retirement is key to having peace of mind in your golden years. Take the guesswork out of the equation as CPF gets you started with your retirement planning. Here are some CPF numbers you need to know.
This is the amount you can expect to receive every month if you join CPF LIFE with $272,900 in your CPF Retirement Account (RA) at the age of 65. This may seem to be a big sum of money, but with attractive CPF interest rates, you can achieve this by setting aside $181,000, the current Full Retirement Sum, at the age of 55. For higher payouts, you can top up your RA.
There are three CPF LIFE Plans: Escalating, Standard and Basic Plan. Ask yourself whether you prefer a monthly payout that increases each year to help you cope with rising prices, or a fixed budget even if it means being able to buy less as things get more expensive as the years pass. Plan ahead and build up your CPF savings to meet your retirement goals.
*Based on the CPF LIFE Standard Plan computed for a CPF member turning 55 in 2020.
You can start receiving the monthly payouts any time from the age of 65.
However, if you do not have immediate needs, you may wish to defer receiving your payouts. For every year that you defer, the payouts will increase by up to 7 per cent. This will give you up to a 35-per-cent increase in monthly payouts if you choose to start receiving them at 70.
You have until the age of 70 to start your payouts, after which they will automatically begin.
The Government helps you grow your CPF savings by paying good interest.
Singaporeans who are 55 and above earn 6 per cent on the first $30,000 of their total CPF savings, and 5 per cent on the next $30,000.
Boost your retirement savings by making small and regular top-ups to your Special Account before you turn 55, and Retirement Account afterwards.
Adding just $5 a day to your CPF savings will net you over $35,000** in 15 years with the power of compound interest.
The earlier you top up your CPF accounts, the more you will benefit.
**Computed using the base interest of 4 per cent per annum on your Special or Retirement Account.
Article From & Read More ( When do CPF payouts start? 3 things you need to know when planning your retirement - The Straits Times )
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Business
All eyes on OPEC+ meeting as markets await group's decision over oil production cut extension
This week: Uncertainties surround LNG winter demand, metals players to take cue from China's manufacturing data, and toluene term talks for 2021 underway.
But first -- Asia, home to the world's largest crude buyers, will focus on the OPEC+ ministerial meeting on Dec. 1, where discussion will focus on the current market conditions and the group's coordinated action in 2021.
Decision made at this meeting will give direction to crude prices. Brent crude prices have pushed near $50/b in recent days - the highest levels since March.
In mid-November, an advisory panel of delegates recommended delaying the group's supply increase for up to six months, given the strong consensus view that surging COVID-19 cases in many western countries and the revival of Libya's crude production will pressure oil prices through early next year.
At the same time, vaccines in development have demonstrated strong preliminary testing results. This is buoying hopes for an oil demand-boosting end to the pandemic if the injections become widely available in 2021.
So, here's our social media poll question for the week. Will the OPEC+ extend the output cut in the first half of 2021? Share your thoughts on social media with the hashtag PlattsMM.
Still in oil, Beijing is expected to soon release the first batch of 2021 oil import and export quotas.
The crude import quota allocation will give an indication of China's crude appetite in the first few months of next year. The Ministry of Commerce has lifted the import quota limit volume by 20% to 243 million mt for 2021 from this year, setting an upward tone.
But questions surround export quota trends for gasoline, gasoil and jet fuel, as over 10 million metric tons of allocations are unlikely to be used this year due to lower global demand.
Now, a decent report on China's November manufacturing data could spur sentiment and provide more buying confidence in the metals and raw materials space. Seaborne iron ore prices have been getting back to around 130 dollars per metric ton CFR China. Restocking and some supply tightness could further support prices this week.
Tensions between China and Australia around coal imports has heightened, leaving millions of tons of Australian coal are sitting on boats off Chinese ports unable to land.
Australian thermal coal, on the other hand, could see strong demand from India and Japan amid supply woes from other high-CV coal origins such as Russia and Colombia.
In Indonesia, Kalimantan thermal coal prices could maintain its upbeat momentum on the back of a slew of Chinese seaborne procurements with additional import quotas released for the remainder of 2020.
In LNG, winter demand is in focus after spot prices jumped last week due to supply disruptions.
South Korea's LNG demand and imports could get a boost from Seoul's announcement to close of 9 to 16 coal-fired power plants in the country from Dec. 1 to Feb. 28 to reduce pollution during the winter period.
South Korea and Japan expect below-average to average temperatures this winter. Cooler weather traditionally supports LNG consumption but pandemic resurgence in both countries could dampen demand.
In petrochemicals, toluene producers in the Far East vie to ink higher premiums next year. This is mostly a reaction to Taiwan's CPC sealing a premium levels in the 20s per metric ton versus Platts FOB Korea toluene assessment for 2021 term supply. BUT traders were reluctant, and this resulted in a stalemate on the term talks. The FOB Korea toluene physical price rebounded to 446 dollars per metric ton on Nov 26, posting the strongest level in eight months.
And finally in shipping, rates on some East Asia routes are expected to hit fresh one-month high as China is estimated to send one million b/d of refined products to overseas.
At a time when refineries across East Asia are cutting output due to poor margins and sourcing the required products from elsewhere, this implies that those Chinese barrels may find their way to Singapore, Japan and South Korea and support clean tankers freight.
Thanks for kicking off your Monday with us. Stay safe and have a great week ahead!
SINGAPORE: From February next year, eligible non-bank financial institutions will have direct access to retail payment services like Fast and Secure Transfers (FAST) and PayNow.
This will allow users to make real-time funds transfers between bank accounts and e-wallets, as well as across different e-wallets, said the Monetary Authority of Singapore (MAS) in a media release on Monday (Nov 30).
Currently, most e-wallets require the use of debit or credit cards to top up funds. Transfers between e-wallets are also not possible.
Businesses that are partnered with any of the 23 FAST or nine PayNow banks will benefit from this move.
E-wallets that have traditionally been "closed-loop ecosystems" will also be able to receive real-time payments from other users of e-wallets of mobile banking applications that join FAST or PayNow.
"This will enable businesses to access a larger market of consumers than before for receiving e-payments instantly and seamlessly," said MAS.
The eligible institutions, which have to be licensed as major payment institutions under the Payment Services Act, will be able to connect directly via a new Application Programming Interface (API) payment gateway.
"The API payment gateway is better geared to the technology architecture of banks and non-bank financial institutions, and can also be used by other banks and non-bank financial institutions in future," said MAS.
MAS managing director Ravi Menon said direct access to FAST and PayNow "closes the last-mile gap in Singapore's e-payments journey".
"Consumers who may not have ready access to debit or credit cards to fund their e-wallets will now have the option to do so directly through their bank accounts," said Mr Menon.
He added that the adoption of e-payments will become "even more simple" for individuals and businesses.
집값은 오르고 전세값도 급등하면서 심화된 전세난 속에 아파트보다 저렴한 다세대·연립·주택으로 눈을 돌리는 주택 수요자들이 들고 있다. 특히 서울에서는 3개월째 다세대·연립주택 거래량이 아파트 거래량을 추월하는 현상이 나타나고 있다.
30일 서울부동산정보광장에 따르면 지난달 서울의 다세대·연립주택 매매 건수는 총 4590건으로, 전달(4012건)과 비교해 14.4%(578건) 증가했다.
구별로는 은평구(482건·10.5%), 강서구(420건·9.2%) 등 서울 외곽 지역을 중심으로 거래량이 많았고, 이어 양천구(364건·7.9%), 강북구(360건·7.8%), 강동구(261건·5.7%), 중랑구(235건·5.1%), 송파구(232건·5.1%) 등의 순이었다.
올해 다세대·연립주택 매매는 1∼5월 5천건을 밑돌다가 7월 7287건으로 2008년 4월(7686건) 이후 12년 3개월만에 최고를 기록했다. 이후 8월 4219건, 9월 4012건으로 2개월 연속 감소했다가 지난달 다시 4590건으로 반등했다.
정부의 부동산 규제가 아파트에 집중되면서 다세대·연립주택으로 눈을 돌린 투자 수요가 늘은것으로 풀이된다.
6·17대책에서 정부는 규제지역의 3억원 이상 아파트에 대해 전세자금 대출을 제한했지만, 다세대·연립주택은 적용 대상이 아니다. 여전히 전세 대출을 통한 '갭투자'가 가능하다. 특히 7·10대책에서 주택 임대사업 등록제도를 개정했지만 다세대주택, 빌라, 원룸, 오피스텔 등은 세제 혜택을 그대로 유지하기로 해 세금 부담도 적다.
다세대·연립주택 거래량은 올해 들어 4월을 제외하면 모두 아파트 거래량에 뒤졌지만, 9월 4012건으로 아파트 거래량(3767건)을 처음 앞질렀고, 10월도 4590건으로 아파트(4339건)보다 많았다. 11월도 신고 기간이 한 달 가까이 남았지만, 다세대·연립주택 거래량(1809건)은 아파트(1725건)를 앞지르고 있다.
SINGAPORE: For more than two years since she started working at a bank, Mavis (not her real name) has been keeping a secret from her bosses: She suffers from depression and anxiety.
While her company has hired counsellors, Mavis has never used their services, and seeks external counselling instead.
She has kept her mental health condition under wraps due to the “toxic” work culture, said the 25-year-old associate, and she fears that her chances of a promotion will be stymied if her condition is out in the open.
“Some have told me that (the company counsellors) will report back to the bank, though my boss said that this doesn’t happen - but you never know,” she said.
"In my industry, you are expected to work very hard and expected to have endurance … Those who can work a lot and handle a lot are seen as better."
A former trainee at a law firm, who wanted to be known only as Chloe, had a similar experience.
The 26-year-old, who began working at the firm early last year, developed anxiety attacks throughout her six-month traineeship. Things worsened to the point where she broke down during several lunch breaks, after feeling like she was manipulating her clients by withholding information.
“I felt like I had to lie to my client ... and I was under so much anxiety. During lunch, I would go down to cry, because I felt like I just couldn’t cope.”
Like Mavis, Chloe did not tell her bosses about her deteriorating mental health, but put on a poker face when she returned to the office after each breakdown.
“I have friends in the legal practice, and the advice given to me was that I could not speak to anybody about (my emotional issues). The concern was really stigma, so I had to go for private counselling,” said Chloe, who is no longer with the firm but is furthering her studies.
This is what some employees here have to face. But what about the employers? What do they have to say?
Those interviewed stressed that they are open to listening to their staff about whatever problems they may have, including mental health issues. However, they admit that a line has to be drawn, especially when it comes to business-critical roles.
If the employees continue to fall short of expectations or are unable to work for long periods of time due to their mental health conditions, the employers said they may have no choice but to refer the workers to other roles within the company or fire them.
Still, having to support staff who have reached their breaking point may not be the biggest challenge when it comes to mental health issues at the workplace in Singapore.
It is actually tackling the stigma surrounding mental illness and encouraging employees to speak up about their problems, based on interviews with workers, employers, human resource (HR) experts, general practitioners (GPs) and psychologists.
While calls to improve mental health awareness in the workplace are not new, the issue has taken on an added urgency this year with COVID-19 creating new stresses and pressures for everyone.
And with more people forced to work from home as the pandemic rages on, the boundaries between work and rest have been blurred, taking a further toll on the mental health of many employees.
But even before the coronavirus struck, the mental health situation here has been a growing concern: The Singapore Mental Health Study conducted between 2016 and 2018 found that one in seven people experienced a mental disorder in their lifetime, compared with one in eight people in 2010’s Mental Health Study.
Just earlier this week, TODAY reported that the Ministry of Manpower (MOM) is investigating allegations made against a firm here where a former employee has committed suicide allegedly due to harsh working conditions.
In introducing the advisory, Manpower Minister Josephine Teo said “protecting workers’ mental health has become even more important” during the pandemic.
Among its guidelines are:
To appoint mental wellness advocates to raise employees’ awareness of mental well-being and mental health conditions through talks and workshops.
To provide access to counselling services such as through Employee Assistance Programmes.
To review HR policies to ensure hiring practices, workplace practices and performance management systems are non-discriminatory and merit-based in nature.
To form informal support networks such as peer support programmes, parenting support groups, or a mentor/buddy system.
While these guidelines are a step in the right direction, more can be done in ensuring that these initiatives are not treated as a paper exercise, and that cultural changes are enacted at the workplace, HR experts and mental wellness advocates said.
Ms Anthea Ong, founder of the WorkWell Leaders Workgroup, a community of leaders from various companies and national agencies which champion workplace mental well-being, said that the guidelines are “solid building blocks” but it will be up to the bosses to take the lead in eradicating stigma at the workplace.
“If the leaders do not catch on and only leave it to the HR department to go and fulfil the requirements on the advisory, then I don’t think we have actually made a dent,” she said.
“Until it is actually embraced, acknowledged and acted upon by the leaders ... only then do we start seeing these programmes, policies and practices making an impact on the ground,” said Ms Ong, a former Nominated Member of Parliament.
CHALLENGES FACED BY EMPLOYERS
While larger firms may have more resources to implement the tripartite advisory guidelines, this is not always the case for small and medium enterprises (SMEs), many of which are feeling the crunch from the current economic slowdown.
Mr Adam Esoof Piperdy, chief executive officer and founder of events company Unearthed Productions, said that SMEs like his are in a “very precarious position” during the pandemic and it may not be practical for them to tick every box in the advisory.
“Such measures would (require) quite a high investment. I think what we would rather do is to have more informal practices of checking in with each other,” he added.
Office workers wearing face masks are seen in the financial business district in Singapore on Nov 23, 2020. (Photo: AFP/Roslan Rahman)
Even for larger firms with comprehensive mental health initiatives, the issue of employees not speaking up about their conditions remains a problem - one that has been exacerbated by remote working.
Ms Anuradha Purbey, people director at insurer Aviva Europe and Asia, said that a consequence of remote working is that managers are not able to meet their employees on a frequent basis.
“Hence, it becomes harder to ‘visibly’ identify any mental health and other challenges that employees are facing,” she said.
“So, we have to rely, primarily, on the online catch-ups and frequent surveys.”
And like what Mavis and Chloe faced, Ms Anuradha acknowledged that the stigma surrounding mental illness is what prevents many firms from detecting mental health issues in the first place, since employees are reluctant to reach out for help.
“While mental health awareness has been gaining traction in Singapore, for many it is still considered taboo to acknowledge their struggles,” she said.
“At Aviva, we want to make talking about mental health as normal as talking about physical health and continue to do what we can do to remove this stigma."
While there are firms which are willing to cut some slack for employees with mental health issues, they also said that there is a limit to how much employers can do.
Mr Piperdy, for example, said that he will try his best to get any colleagues struggling with mental health to seek professional help or give them days off if they are unable to cope. However, since the event industry is a client-facing role, he cannot continually make concessions at the risk of letting his clients down.
“At the end of the day, the job scope doesn’t change … if they’re not able to manage the workload that comes in, which is something we actively do, then I think we will help this person to transition to another job, maybe we will look for opportunities for this person.
"We have successfully redesignated some of them, to find suitable jobs in more fixed, permanent (roles) such as working in a venue instead of working for an events company,” Mr Piperdy added.
“But we are actively trying to avoid that by having early intervention, coaching and mentorships.”
TAKING THE FIRST STEP: BOSSES SAYING ‘IT’S OK TO NOT BE OK’
In recent years, some companies in Singapore have come up with a slew of measures to promote mental wellness at the workplace, many of which are in line with the tripartite advisory’s guidelines.
For instance, national media network Mediacorp introduced earlier this month an emotional and mental well-being support initiative that consists of emotional and mental wellness training and a one-on-one confidential counselling service, among other things.
Mediacorp Chief Human Resources Officer Yvonne Ee said: “As part of our corporate wellness initiative, we continue to support our people with resources they need to adapt positively and perform well, during these unprecedented times.”
She added: “Through (the initiative), we look to create an environment where staff can build strong mental and emotional resilience, and feel secure as they continue to contribute to the organisation.”
Biopharmaceutical firm AstraZeneca Singapore said that among its mental wellness initiatives is an internal online platform for employees to discuss mental health issues and queries within chat groups. It also has in place the employee assistance programmes which provide confidential counselling.
President of AstraZeneca Singapore Vinod Narayanan said: “While we continue to build our open and inclusive culture at the workplace, we also recognise the impact COVID-19 has on mental well-being of our employees and will continue to build that space where it is safe for employees to speak openly about mental health issues.”
Employees at AstraZeneca Singapore having a team “kopichat” lunch session while working from home. (Photo: AstraZeneca Singapore)
In response to queries, business consultancy PwC Singapore said it provides several avenues to support mental health including an employee assistance programme, workshops, support groups and online resources to drive awareness of the subject.
Online marketplace Carousell said it has a dedicated wellness programme where employees “come together as a team to focus on our well-being”, at least once a month. It is also looking into establishing an employee assistance programme to offer support to employees struggling with personal and work-related problems.
While companies ramping up their mental wellness initiatives is a positive sign, HR experts said that this has to be coupled with bosses who lead by example in creating a more open company culture.
Earlier this week, Bloomberg reported that Economic Development Board managing director Chng Kai Fong had opened up about his mental health struggle during the pandemic at a technology conference on Nov 22.
Mr Chng - who was formerly the principal private secretary to Prime Minister Lee Hsien Loong - said that family matters that occurred in April had affected his emotional and mental state, leading to feelings of “heat and anger” and depressive bouts.
According to Bloomberg, Mr Chng said he wanted to openly share his experience with others who might be facing mounting pressure to lead during times of fear and uncertainty.
“We can do a lot more as leaders to acknowledge that (it’s OK not to be OK) and to share a little bit more about ourselves,” Mr Chng said. “And that builds trust.”
Otis Asia Pacific president Stephane de Montlivault, who is a member of the WorkWell Leaders Workgroup, said that being more open about his struggles with mental health meant that employees of the elevator company were more willing to share their problems as well.
“I shared my personal situation as I happened to also have a number of difficulties (amid COVID-19). I lost a colleague and very close friend who died in a car accident … and shortly after that my father-in-law had a heart attack and was in the ICU,” he isaid. “I was facing a lot of stress, and had sleeping issues, anxieties."
When he shared these issues at a forum with his employees, many of them started opening up, and subsequently many were willing to go to their bosses directly with their problems, he said.
“(We) made it very open and clear that it is not only okay, but normal and encouraged to talk about our difficulties and to work on them as a team,” said Mr de Montlivault.
“This actually caused us to take some actions in some cases when we found that people had difficulties when we were constrained by not being able to come to the office.”
Agreeing, Ms Ong said that bosses who are willing to reveal their vulnerable side send a clear signal to employees that having mental health issues does not mean that they will not be able to succeed at work.
“That’s a very big part of stigma in the workplace, (which) stems a lot from concerns with career progression and advancement,” she said. “When leaders are the ones sharing, then it says that it does not affect your promotion options, your career progress, and your potential.”
Veteran HR practitioner Carmen Wee said that the employer-employee relationship should be one that is centred on the well-being of the employee. “If employees are fearful in asking for help, there’s something wrong with the culture or leadership approach,” she said.
“If you work in a company where the company respects you, wants to look after their well-being, which employee will not flourish and perform?
”There would not be such a fear if employees “feel supported and don’t feel like their psychological safety is threatened”, she added.
Ms Wee noted that for cases where an employee’s mental health condition becomes too severe to continue working at a company, firing the employee should be a last resort.
Other alternatives such as no-pay leave, counselling and job coaching should first be considered.
“If at the end of the day, the person still can’t cope and the job is still contributing to the stress, there needs to be a heart-to-heart talk, and if everything cannot be worked out, they might have to part ways,” she said.
Even when making such a decision, the company must also be sensitive given the pandemic situation, where it may be difficult to find employment. Employers can introduce the affected workers to new jobs that may be more suitable, or link them up with job courses.
“Each person’s circumstance is different, so the company needs to examine and come up with an individualised plan,” Ms Wee said.
Although awareness of mental health here has grown, there remains a common misconception that physical health takes precedence over it, when both in fact should be viewed on par, said psychologists and GPs whom TODAY spoke to.
Office workers wearing face masks are seen near the financial business district in Singapore on Nov 23, 2020. (Photo: AFP/Roslan Rahman)
Dr Geraldine Tan, director and principal psychologist of The Therapy Room, said that whether it is a physical or mental illness, patients can be “struck down” by it for a prolonged period.
“When they have their diagnosis of anxiety and depression, they cannot go into the office, and someone else has to take over, so it is as bad as having surgery, or breaking your leg,” she said.
Agreeing, GPs said that they would give medical certificates (MCs) regardless of whether it is a physical or mental ailment.
Dr Sunil Kumar Joseph, a GP who runs Tayka Medical Family Clinic in Jurong, reiterated: “Mental illness is treated the same as physical illness from a medical point of view, so there is no issue.”
The World Health Organization (WHO) defines health as “a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity”.
According to the American Psychological Association (APA), physical and mental health are interconnected and cannot be viewed in isolation.
“Stress can take a toll on our physical health, while physical challenges can also bring new stress into our lives,” the APA said on its website.
Regardless of the literature, Dr Sunil said the main obstacle is the stigma that prevents patients from visiting him in the first place. And one policy that propagates the stigma is company-paid insurance, he noted.
“Indirectly, (the company) is able to access all your medical history because you signed a waiver to your rights of confidentiality,” he said. “So very few people who are using corporate insurance are willing to disclose mental health conditions, so that’s one stumbling block.”
He added that a lot of insurers do not pay for mental health treatment.
One guideline in the tripartite advisory says that companies with flexible employee benefits, such as medical benefits, should consider extending the scope of coverage to include mental well-being programmes, mental health consultations and treatments.
Companies such as Aviva Singapore, consultancy firm PwC Singapore and investment holding company Jardine Cycle & Carriage have health coverage plans that include mental health treatment.
Otis’ Mr de Montlivault said that as per the guidelines, his firm will be looking to include mental health as part of its health coverage as well. In the meantime, Otis employees can tap internal company self-funded insurance which has been expanded to include coverage for psychological support services.
If employees are hesitant to get MCs for their mental ailments, some companies have a policy where a limited number of sick days can be taken without having to produce an MC.Some employers also provide medical leave based on trust, rather than having to always provide MCs.
Employees of the Jardine Matheson Group attending mental health first aid training. (Photo: Photo: Jardines Mindset)
Mr Jeffery Tan, chief executive officer of charity organisation Jardines Mindset Singapore and group general counsel of Jardine Cycle & Carriage, said that if employees report that they have mental health issues without an MC, it will come down to “managerial discretion and empowerment by the supervisors”.
“Even for physical ailments, we don’t always need to be able to produce an MC before we can go off; we can see someone is struggling with an ailment, they can take an afternoon off,” said Mr Tan, who is also part of the WorkWell Leaders Workgroup.
“This is coupled with an element of trust in a safe environment, as opposed to starting off by saying ‘if I have this, are people going to game the system and be less than truthful?’,” he added. “I think those are all the wrong dynamics.”
Agreeing, Ms Audrey Ng, global head of HR for mining firm Anglo-American Marketing, said that trust is “central to the relationship with our teams”.
“We know that the overwhelming majority of them are highly dedicated and committed to achieving great results for the entire organisation, so if we see that someone needs a break, we try to ensure that he or she feels empowered to take some time off with line manager approval,” said Ms Ng.
Still, some employees said taking medical leave as and when they need to is not feasible, as they are on project-based jobs.
A junior art director at an advertising firm, who wanted to be known only as Isabel, said that the number of projects she had to do during the circuit breaker period increased by about 40 per cent as more clients were looking to advertise online.
The longer working hours and higher workload resulted in the 24-year-old feeling stressed and anxious to the point where she would vomit regularly and lose her memory while at work.
She could not take a break as she had to meet the clients’ deadlines, and no one could take over her projects as they would not be familiar with the clients’ requests.
“In advertising, the mindset is always clients first, and that’s very detrimental on the employees,” she said.
WHAT EMPLOYEES CAN DO THEMSELVES
Dr Douglas Kong, a mental health expert and performance coach, said that those who are stressed at work may not be able to identify the signs until it is too late.
“Those who are under stress, or have some issues in their life that they aren’t handling well … they can’t see it, and they do their best to cope and handle it,” he said.
He has seen several cases of employees who would not admit to their stress and anxiety, only for their mental health conditions to worsen and affect their productivity.
“So people think that mental illness is terrible, that you must not have it … But the point is that if you can deal with it earlier... it can allow the person to overcome it and get on with their lives and work,” said Dr Kong.
Mr Adrian Choo, founder of career strategy consulting firm Career Agility International, said that employees must know “when to back off” when caught in a stressful situation.
“Employees themselves need to know when they are being stretched and are hitting the limit… (They) need to ask themselves what is more important, your health or your career?” he said. “Because if you are burnt out, you are of no use to your company anyway.”
For Mavis, the bank employee who is hiding her mental health condition from her bosses, only a significant cultural shift in her company will prompt her to open up about her struggles to her superiors.
“If I see a culture where you’re talking openly about mental health, and it’s very clear that if I say something about it, not just my bosses but my colleagues will not think differently of me,” she said. “(Instead) it will be something that can actually help me, with people being more caring and it is not something that will be looked down on.
”She added: “But right now, it is a far cry from that.”
Article From & Read More ( The Big Read: Enough is enough. Just what does it take to break mental health stigma at the workplace? - CNA )
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