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• Singapore has dodged a recession after the

economy managed to grow 1.8 percent in the fourth quarter compared with the third quarter, surprising many economists who were expecting a contraction. For the GDP growth in 2013, the median forecast by economists was 3.9 percent and headline inflation was 3.2 percent.

• Singapore attracted a record $16 billion of investments in 2012, 17 percent up on 2011. These investments should eventually add $20.3 billion in economic value a year to the economy and create 18,600 skilled jobs.

• More women are being stricken with heart problems and their condition is often starkly different from men, according to medical centres. Not only are they much older when the disease strikes, but many display vague symptoms, like breathlessness.

• Scientists here have found that removing a specific molecule from the cancer cells could be the key to defeating bone marrow cancer. About 80 people in Singapore are diagnosed with an incurable form of bone marrow cancer each year and they usually die within four years.

• Pharmaceutical giants are racing to develop single drugs to fight several cancers. For the first time ever, three companies are poised to test whether new drugs can work against a wide range of cancers independently of where they originated. Many scientists see this as the beginning of a new genetic age in cancer research.

• 1 in 9 people with diabetes saw his/her sugar blood levels dip back to normal or prediabetic levels after a year on an intensive diet and exercise programme, a new study has found.

• Eating whole grains ranging from oatmeal to popcorn, from brown rice to whole wheat, is associated with decreased risk of prediabetes, the elevation of blood sugar which can precede diabetes in adults, according to a new study.

A Publication By Manulife Singapore Marketing – Issue 1, 2013

• Inflation was high in the last few years but the real

household incomes of Singaporeans and permanent residents still managed to increase, according to the findings of the Singapore Public Sector Outcomes Review, released by the Ministry of Finance.

• Men in Singapore have the second highest healthy life expectancy in the world and women the fourth highest. What is happening to the current generation of Singaporeans reflects a worldwide trend of people living longer, but with an increase in "unhealthy" years outpacing additional healthy years.

• A survey revealed that Singaporeans are among the

best prepared for future health expenses among five countries in Asia. 74 percent of working adults here are prepared for post-retirement health expenditure, higher than Hong Kong’s 60 percent. South Koreans were the least prepared with only 31 percent.

• The Government has unveiled a $2 billion package

to reverse low birth rate by encouraging citizens to get married and have babies. The enhanced package includes a bigger baby bonus cash gift (up by $2,000) of $6,000 for the first two births and $8,000 for the next two births. All newborns also get a $3,000 Medisave grant. MediShield will be extended to cover congenital and neonatal conditions effective from March 2013.

• The Government has announced new property

cooling measures which took effect on 12 January 2013.

- Singaporeans have to pay an additional buyer stamp duty (ABSD) of 7 percent for their second property while permanent residents (PRs) to pay 5 percent on their first property.

Tuesday, 29 January 2013

- The minimum cash down payment for a second or

subsequent housing loan to increase from 10 percent to 25 percent.

- It also introduced a Seller’s Stamp Duty on industrial properties for the first time.

- The Mortgage Servicing Ratio for HDB housing loans granted by financial institutions and HDB to cap at 30 percent and 40 percent respectively of a borrower’s gross monthly income.

- PRs are not allowed to sublet their entire flat and must sell their flat within six months of purchasing a private residential property in Singapore.

• Experts predict mortgage loans could drop up to 20 percent and a large number of property hunters, especially the PRs and foreigners will shift towards renting. Units with a monthly rent of $6,000 or below will be more active.

Disclaimer: This publication is intended for general information. The views expressed do not have regard to specific investment objectives, financial situations or your particular needs. Manulife shall not be liable for any action taken based on the views

expressed and information provided in this publication.

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• The Financial Advisory Industry Review (Fair) panel has announced recommendations including:

- A direct channel for retail customers to buy basic insurance products straight from the insurer.

- A website for consumers to compare products. - Raising educational requirements for financial

advisers and more stringent base capital and compliance requirements for firms.

- A suggested 40 percent cap on total commissions payable to financial advisers in the first year of life insurance products aims to increase the surrender value of policies in initial years.

• Singapore's financial sector will get a thorough run-through in the coming months by International Monetary Fund (IMF) experts who will study the sector's stability and resilience. Singapore will be judged against international standards for the banking, insurance and securities sectors.

• MAS have released a consultation paper on proposed changes to credit card and unsecured credit rules. The changes are aimed at improving financial institutions’ lending and disclosure practices, empowering individuals to make better borrowing decisions, and helping individuals who are at risk of credit problems.

• The automatic entry age for the Dependents’

Protection Scheme will be raised from 16 to 21 from 1 January 2013 as more young people start work at a later age. However, members aged between 16 and 20 can choose to opt into the scheme once they start making CPF contributions.

• CPF members will continue to enjoy a risk-free interest rate of 4 percent on their Special and Medisave Accounts from 1 January 2013 to 31 March 2013, and on their Retirement Account (RA) for the whole year.

• From 1 January 2013, the Medisave Required

Amount (MRA) will be raised from the current $32K to $38.5K so that members will have enough savings to meet their healthcare needs during old age.

• In a move to boost the retirement income schemes,

the Housing Board is enhancing the Silver Housing Bonus (SHB) and Lease Buyback scheme (LBS) to enable elderly Singaporeans to top-up less of their net sales proceeds and get more in cash when they monetise their HDB flats.

AIA • Launch of AIA Family First Assurance (Dec 2012) - Whole life RP-ILP. Death Benefit is the insured

amount plus account value. - Offers Saver Premium and Regular Premium.

Premium allocation at 105 percent from 5th year

onwards for Saver Premium and 11th year onwards for

Regular Premium. - Non-lapse guarantees in the first 10 years as long as

no withdrawals from regular premiums units and regular premiums are paid on time.

- Option to reduce insured amount to a minimum of 5 times of regular premium when one no longer has any dependants.

- 20 percent cash reward to the customers on first 3 months’ premiums with purchase of the RP-ILP plan.

• Launch of AIA Retirement Saver (Jan) - Par-endowment with income payout options. - Premium payment term: Single payment, 5 or 10 years. - Income payouts from age 65 for 15 or 20 years. - At age 65, receive a lump sum guaranteed retirement

reward equivalent to 24 times of the selected guaranteed monthly retirement income.

GE Life • Live Great Prosperity Cash Bonus Promotion (Till Mar)

- Customers are rewarded up to S$288 in cash with purchase of eligible endowment and protection plans. Minimum qualifying annual premium for endowment and protection plans are $3,600 and $250 respectively.

TM Asia Life • Launch of TM EarlyCare (Jan) - Severity-based critical illness plan that provides a lump

sum benefit payment at the early stage of a dread disease.

- Covers 91 medical conditions or procedures and 3 stages of severity.

- Also available as rider to TM Legacy Plus.

Gong Xi Fa Cai

Manulink Flexi Plus provides cover for Death, TPD and TI. The death benefit is sum insured and account value. The maximum sum insured is up to 100 times the annualized premium and premium allocation is 105 percent from 7

th year onwards.

Our newly launched ManuRetire Secure is the first ILP in Singapore that guarantees clients’ investment at 80 percent of the Fund’s highest historical Unit Price. The plan also offers several savings and payout options, providing our clients with great flexibility for their financial needs during retirement. Clients will be rewarded with up to $800 Takashimaya Gift Vouchers when they invest into MRS. Promotion ends 28 February 2013. Act on it now!