Insurance
price fixing NOT model behaviour
By Patrick Lim  •  May 19, 2011
today's edition of the straits times carried a report of our competition watchdog, the competition commission of singapore (ccs) said a total of 11 modelling agencies came together from 2005 to 2009 to set and raise prices charged for the hiring of models. just last week, 16 maid agencies were also singled out for allegedly colluding to increase the pay of new indonesian maids. the modelling agencies have been asked to present their arguments before the ccs makes a final judgement and they have until june 30, 2011 to prove their innocence, failing which they will face a fine of up to 10 percent of their annual turnover for a maximum of three years. my comments: in my 14 years in the financial industry and with reference to insurance companies, i observed that the pricing of certain life insurance products have been regularly re-priced to the advantage of consumers here. ......
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.
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