Moneylender Fined for Providing False Information

The sole proprietor of AS Shalihin Enterprise was slapped with a $28,000 fine for providing false information about his borrowers’ income to the Registry of Moneylenders after being convicted last Friday, 16 September. Tan BN, a licensed moneylender, will be jailed for 56 days if he is unable to pay the fine. This is the latest breach of … Read more

Latest Update on Housing Rules and Measures

The Monetary Authority of Singapore (MAS) announced on 1 September 2016 on the changes made to the current housing rules and measures. Due to the current Total Debt Servicing Ratio (TDSR) threshold of 60 percent, some borrowers have commented that they are unable to refinance their existing property loans. Accordingly, MAS has fine-tuned the refinancing rules under TDSR framework to allow … Read more