Fund managers see rich pickings in Asia

Jan 28, 2007

Fund managers see rich pickings in Asia

If you plan to stay invested, the ride may well turn bumpy. Diversifying can help you lower your risks

By Leong Chan Teik

AFTER last year's exhilarating rise in the stock market, the historical lesson is this: Don't get too excited. Stocks are risky and they aren't that cheap anymore.

That message was repeated to 1,400 enthusiastic people who packed a Raffles City ballroom on Thursday night to hear fund managers talk about what to invest in and where.

The prognosis is that growth in the United States is slowing, dampening demand for Asian exports; the global economy is also expected to slow.

Stock markets everywhere are at record highs and risk falling sharply, but there are plenty of reasons to stay invested - if you know where.

Broadly, Asia is where the best growth potential is, with Singapore a particularly popular pick.

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Rule change sees Medisave claims jump

Jan 28, 2007

TOP OF THE NEWS

Rule change sees Medisave claims jump

By Melissa Sim

THE use of Medisave to pay for outpatient treatment of chronic diseases is catching on, with $3.1 million worth of claims made since the rules were changed in October last year.

The number of claims has been climbing ever since the Government changed tack and decided to allow the use of Medisave for certain outpatient treatments.

About 11,500 claims were made this month, amounting to about $1.2 million, up from 7,000 claims the month before.

The jump is attributed to the fact that the list of chronic conditions was expanded at the beginning of this month to include high blood pressure, high cholesterol and stroke.

When the rules were first changed, only diabetes patients were eligible to use Medisave.

The Government's rationale is that medical costs will be held down in the long term if patients managed their chronic conditions properly with the guidance of their family doctor.

People suffering from these conditions, they believe, will be more willing to make the frequent trips to the doctor if some of the payment came from their Medisave rather than entirely out of their own pockets.

Diabetes treatment accounted for 75 per cent of the claims this month, followed by 20 per cent for high blood pressure.

Health Minister Khaw Boon Wan thinks the number will rise as people start getting used to how the scheme works.

'I think our estimate is that we have about a million people with one of the four conditions. Now we are seeing about 12,000 a month, but I'm sure there are many more such cases.'

A patient can use up to 10 Medisave accounts belonging to him and his immediate family to pay for treatment, up to a limit of $300 a month.

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Retirement planning low on S'poreans' priority list

Jan 27, 2007

Retirement planning low on S'poreans' priority list

They are more prepared for medical, housing and education expenses: Poll

By Grace Ng

MOST Singaporeans are prepared for short-term financial emergencies and big expenses such as their mortgage and children's education. However, such planning falls well short in other areas like retirement.

Those were the key findings of a new survey on how ready people are for financial challenges. The answer, when it comes to life insurance coverage and retirement planning, is not nearly enough.

Only 40 per cent of those surveyed by insurer AIA and Singapore Press Holdings (SPH) say they are building a retirement fund of at least 10 times their annual income. And 64 per cent do not have life coverage of at least 10 times their annual salary.

On other fronts, however, the findings were more encouraging. Sixty per cent of respondents say they have critical illness coverage of at least twice their annual income.

And most of them are prepared for short-term emergencies, such as job loss, with 68 per cent saying they have enough cash to tide them over for at least six months.

It is also clear that Singaporeans place a high priority on properly insuring their property, with 83 per cent confident their home will be fully paid for if they die or suffer permanent disability. And 72 per cent say they will have more than enough money to pay off a mortgage if they sell their home.

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