MAS releases findings from its review of switching of investment products

MAS :News Room, Press Releases
consumerW is glad that MAS is concerned about the unethical practices. However, the press release seems vague on how serious the situation is.

Fiat to fix 21,000 cars

Fiat to fix 21,000 cars
This recall affects right-hand drive cars...are Singapore versions affected also?

Small Claims Tribunals

A common question asked about the Small Claims Tribunals (SCT), is what type of disputes that can be brought to SCT.

Consumers can look at this comprehensive checklist.

Defra, UK - Environmental Protection - Recycling and waste

Defra, UK - Environmental Protection - Recycling and waste
Cool...regulations to prevent excessive packaging.

Telecommunications

IDA's guide to resolving disputes with Telecom Service Providers.

Consumers International - SC Asia project

Consumers International - SC Asia project
Consumers should not just think about how to protect their interests, but also consider the wider complications of globalisation. Sustainable consumption is the way to go.

Housing

consumerW will first concentrate on HDB purchases, and in particular, resale HDB flats, as these transactions are more often than not more prone to be problematic for consumers. See links below for more.

Buying A Resale Flat

Buy Flat on My Own or Engage a Housing Agent

Motoring

Useful links to check out for motoring issues

LTA
Vehicle Quota System (also known as COE)

one.motoring
LTA Information & Guidelines

Wonder how much profit the car dealer is making off a new car purchase? Check out the PDF file named "Detailed breakdown of car costs" located on the bottom of this page.

Enforcement Decisions

Enforcement Decisions

Before you buy/sign

consumer watchdog singapore (consumerW) [now known as consumer research singapore (sgCR)] will be launching a series of guides to help consumers get a fair deal when buying products or signing up for services. Prevention is always better than cure, and this will be the main aim of this website.

Besides looking through the guides for specific topics, there are some general things that consumers should take note when considering a purchase.

1. Know your consumer rights and responsibilities
2. Understand the terms and conditions, especially those in fine print
3. Make an informed choice, do some research first
   

New rules for purchase of new HDB flats

HDB InfoWEB : Financing Your Home (e-Financing) - HDB Housing Loan - Introduction
For consumers who wish to enjoy HDB's concessionary loan when purchasing a new HDB flat, they will have to produce an additional document, called a HDB Loan Eligibility (HLE) letter.

This new requirement will kick in from 1st January 2007.

According to HDB,
"This HLE letter must be obtained before committing to the purchase or transfer of a flat. This will provide prior information on your loan eligibility quantum and monthly instalment to ensure you are able to pay for your home and service the loan without overstretching your finances."

Consumers can apply for the HLE letter at this website.

KFC to slash menu's use of trans fat - Los Angeles Times

KFC to slash menu's use of trans fat - Los Angeles Times
Great news coming out of the US. Lets lobby for fast food companies to do the same in Singapore...

Renovation

Consumers can take a look at the external links below to get more tips about renovation.

HDB
Looking For A Renovation Contractor
Getting Approval For Your Renovation
HDB Renovation Guidelines

BCA Good Industry Practices
Ceramic Tiling
Marble & Granite Finishes
Waterproofing for Internal Wet Areas
Painting
Waterproofing for External Wall
Timber Flooring
Aluminium Window
Timber Doors
Wardrobes & Kitchen Cabinets

RADAC
Renovation Pointers
FAQs

Proposed Changes to Unsecured Credit Rules

MAS :News Room, Press Releases
Consumers can give their feedback regarding this proposal, in this public consultation. consumerW is currently studying the proposal, and will be sending in its comments.

Consumer Alert: Fraudulent emails using MAS's name

MAS :News Room, MAS Announcements
A new phishing scam that consumers (especially online banking users) should know more about.

IDA Enhances Number Portability Regime To Benefit Consumers

IDA Press Release

After IDA's recent clampdown on unsolicited SMS charges, together with an open letter (PDF) to the 3 telcos, clarifying on the issue of billing complaints and disputes, they seem to have earned another feather in the cap by annoucing the move towards a true number portability regime. consumerW supports this initiative, which will enable consumers to choose the best mobilephone subscription deal without having to change telephone numbers.

Links

Consumers in Singapore have many avenues to learn about consumer issues, and also how to resolve consumer disputes. Below is a list of them.

Consumers Association of Singapore
http://www.case.org.sg/

Small Claims Tribunals
http://www.smallclaims.gov.sg/

Financial Industry Disputes Resolution Centre
http://www.fidrec.com.sg/website/index.html

Monetary Authority of Singapore - Consumer page
http://www.mas.gov.sg/masmcm/bin/pt1Consumer_Portal_Latest_News.htm

Life Insurance Association - Consumer page
http://asp.lia.org.sg/GuideToLife.asp

National Association of Travel Agents Singapore
http://www.natas.org.sg/

Renovation and Decoration Advisory Centre
http://www.radac.org.sg/

Buyer Beware - 21st July 2006

Buyer Beware

A weekly look at what to watch out for in the world of consumers. Figures, case study and tips come from the Consumers Association of Singapore (Case).

The world of cars

116 No. of cases filed
(January to December 2005)

Top complaint

1. Misrepresentation

CASE STUDY

A car buyer paid a deposit on a new car and was assured by the sales staff verbally that a hire-purchase loan would definitely be approved. However, the loan application was rejected.

The vendor then told the buyer that he had to top up with cash or the transaction would be cancelled and he would lose his deposit. The buyer went to Case to get back his deposit.

OUTCOME

Case wrote to the car vendor without success. Case then proposed mediation which was successful.

CONSUMER TIPS

1. Put down important terms in writing to prevent potential disputes.

2. Know the latest laws applicable. Hire-purchase loans taken after Nov1, 2004, are subject to the amended Hire-Purchase Act. Check out the Ministry of Trade and Industry web-page of frequently asked questions at http://app.mti.gov.sg/default.asp?id =566.

3. The Association of Banks in Singapore (ABS) has a publications webpage, including a guide to car financing (http://www.abs.org.sg/publications.htm).

Timeshare

The top consumer complaint in Singapore over the years have been about timeshare.

Timeshare is defined as "any living accommodation, in Singapore or elsewhere, used or intended to be used (wholly or partly) for leisure purposes by a class of persons all of whom have rights to use, or participate in arrangements under which they may use, that accommodation or accommodation within a pool of accommodation to which that accommodation belongs" according to the definition in the Consumer Protection (Fair Trading) Act, also known as the CPFTA.

Under the CPFTA, consumers can cancel time share and direct sales contracts within a 3-day cooling off period (excluding Sat, Sun and public holidays). The Ministry of Trade and Industry has a FAQ on the CPFTA.

More information on the cancellation procedures can be found on this PDF file of the Consumer Protection (Fair Trading) (Cancellation of Contracts) Regulations.

Complaining Effectively

consumer watchdog singapore is currently finishing a guide to resolving consumer disputes in Singapore. In the meantime, consumers can refer to these 2 webpages (Consumers' Association of Canada, and Australian Consumers' Association) for a rough guide on how to complain effectively. Watch this space for the article for Singaporean consumers, coming up soon.