Friday, April 20, 2007
Monday, March 26, 2007
Price Control Act
sgCR has just discovered that there is a Price Control Act in Singapore...the next step is to see how it can be used to help consumers...
Tuesday, March 13, 2007
Banking
Bank accounts are most likely the first "big-ticket" product or service that a consumer signs up. So it is good to know the liabilities and rights of a consumer in such a contractual relationship.
First place to start is the Financial Institutions Directory on the Monetary Authority of Singapore (MAS) webpage. You should only consider a dealing with a bank if their name is on the list.
The other list that you should check out is MAS's Investor Alert List. This is sort of like a blacklist of dodgy financial institutions.
What's next? Let's use the basic savings deposit as an example. The Association of Banks in Singapore (ABS) has a nice PDF guide on this.
MAS also has a PDF guide on how to read your bank statement.
The Singapore Deposit Insurance Corporation, a new entity, is a new protection scheme for consumers.
In the event a Scheme member bank or finance company fails, all of your eligible accounts with that member are aggregated and insured up to S$20,000, net of your liabilities to the member.
Moneys held in bank deposits under the CPF Investment Scheme are separately insured up to S$20,000.
HSA Infosearch
HSA /BS/Onestop-prism@hsa
An informative database of the licensed drugs, cosmetic products, pharmacies, and tobacco retailers in Singapore. Consumers can use the database in many ways. For example, patients looking for generic drugs can search using the active ingredient of the drug as the search phrase.
An informative database of the licensed drugs, cosmetic products, pharmacies, and tobacco retailers in Singapore. Consumers can use the database in many ways. For example, patients looking for generic drugs can search using the active ingredient of the drug as the search phrase.
Friday, March 09, 2007
Police may be called in over fixed TV shows
MediaGuardian.co.uk
Could this be happening in Singapore also?
Could this be happening in Singapore also?
Monday, March 05, 2007
Tesco accused of cheating over half-price offer
Special reports | Guardian Unlimited
Could this "tactic" be used in Singapore too?
---------------------------------------------------
Dan Bell
Monday March 5, 2007
The Guardian
Tesco faces an investigation by trading standards officers after being accused of raising the price of fruit and vegetables shortly before offering them for sale at a reduced price as part of a promotional health drive.
The supermarket is offering a selection of at least five fresh fruit and vegetables at half-price as part of its Fruit & Veg Pledge. The offer is intended to coincide with a drive to urge consumers to eat at least five portions of fruit and vegetables a day in order to stay healthy. But the supermarket chain yesterday confirmed that it had raised the prices of apples, peaches, nectarines, and plums in the month before they were included in the promotion.
Martin Fisher, of the Trading Standards Institute, accused Tesco of exploiting pricing loopholes to mislead customers with the campaign, and called for a tightening of the rules.
A spokeswoman for Tesco said the price changes had been due to seasonal variations in overheads, such as transport costs around Christmas. "Any suggestion that we ramp up prices in order to cut them again is the purest nonsense," she said. Gala apples rose in price from £1.19 a kg in the week beginning December 11 to £1.99 in the week of December 18. They were then slashed to 99p in the first week of this year. Plums were £1.48 for 500g on December 11, but went up to £2.99 in the week of December 28, before being cut to £1.48 again in the first week of the pledge. Nectarines similarly rose from £1.49 to £2.99 before being cut to £1.48, while peaches rose from £1.99 to £2.99 before the price was halved.
Tesco defended the Fruit & Veg Pledge and accused its competitors of attempting to undermine its reputation, after the Mail on Sunday published the price rises. A spokeswoman said Tesco had a better record in promoting healthy eating than any other retailer. "If trading standards do want to take a look, that's fine. We're doing more than anyone else on health, and this promotion will help more customers than ever get their five a day."
She added that a range of products, from carrots, courgettes, and onions, to salads, vegetable stir-fries, and organic grapes, had gone on sale at half-price for two or more weeks after remaining at a constant price since December 18.
Could this "tactic" be used in Singapore too?
---------------------------------------------------
Dan Bell
Monday March 5, 2007
The Guardian
Tesco faces an investigation by trading standards officers after being accused of raising the price of fruit and vegetables shortly before offering them for sale at a reduced price as part of a promotional health drive.
The supermarket is offering a selection of at least five fresh fruit and vegetables at half-price as part of its Fruit & Veg Pledge. The offer is intended to coincide with a drive to urge consumers to eat at least five portions of fruit and vegetables a day in order to stay healthy. But the supermarket chain yesterday confirmed that it had raised the prices of apples, peaches, nectarines, and plums in the month before they were included in the promotion.
Martin Fisher, of the Trading Standards Institute, accused Tesco of exploiting pricing loopholes to mislead customers with the campaign, and called for a tightening of the rules.
A spokeswoman for Tesco said the price changes had been due to seasonal variations in overheads, such as transport costs around Christmas. "Any suggestion that we ramp up prices in order to cut them again is the purest nonsense," she said. Gala apples rose in price from £1.19 a kg in the week beginning December 11 to £1.99 in the week of December 18. They were then slashed to 99p in the first week of this year. Plums were £1.48 for 500g on December 11, but went up to £2.99 in the week of December 28, before being cut to £1.48 again in the first week of the pledge. Nectarines similarly rose from £1.49 to £2.99 before being cut to £1.48, while peaches rose from £1.99 to £2.99 before the price was halved.
Tesco defended the Fruit & Veg Pledge and accused its competitors of attempting to undermine its reputation, after the Mail on Sunday published the price rises. A spokeswoman said Tesco had a better record in promoting healthy eating than any other retailer. "If trading standards do want to take a look, that's fine. We're doing more than anyone else on health, and this promotion will help more customers than ever get their five a day."
She added that a range of products, from carrots, courgettes, and onions, to salads, vegetable stir-fries, and organic grapes, had gone on sale at half-price for two or more weeks after remaining at a constant price since December 18.
Tuesday, February 27, 2007
Is it really a good deal for patients?
sgCR wonders if patients really benefit from this scheme...
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Feb 22, 2007
Heart pill: Pay $1,000 less the NUH way
When discharged, patients get one year's supply, covered under Medisave, insurance
By Health Correspondent, Salma Khalik
FOR subsidised heart patients in need of potentially life-saving medication, where they get treated could mean a difference of more than $1,000 when footing the bill.
At the National University Hospital (NUH), a patient gets a year's supply of medicine when they are discharged, covered by Medi- Shield or Medisave. At the National Heart Centre (NHC), however, a patient gets only three months' worth of drugs. After that, they have to pay for it out of their own pockets.
About 5,000 people here are fitted with stents each year. More than half get drug-eluting stents (DES), devices that slowly release medication to prevent the artery walls re-thickening. But they increase the risk of getting blood clots.
So such patients are usually given two antiplatelet drugs for at least a year to prevent the formation of blood clots that could cause a fatal heart attack.
One of the drugs is simple aspirin, which costs only a few cents per pill.
The other, Plavix, costs about $4 each. No generic brands are available for this; neither is there a subsidy for the medicine once the patient leaves the hospital.
But NUH provides a whole year's supply of Plavix when patients are discharged, so it forms part of their hospital bill.
This means that they can claim the cost of medicine against any hospital insurance they may have, or from their Medisave account, so long as it is within their claim limits.
At NHC, the same patient will get only three months' supply of medicine on discharge.
NUH's Associate Professor Tan Huay Cheem told The Straits Times: 'It's such an important medicine, I don't want patients to miss out on it because they can't afford to pay.'
He sees nothing wrong in adding it to the hospital bill for insurance claims, as 'it is part of the medical treatment and there is a real danger if patients stop taking it'.
For Mr Ong Wee Chai, 43, who had a DES inserted at NUH last month, having a year's supply of medicine with him is a real blessing.
'That pill (Plavix) costs more than my lunch,' said the senior petroleum storage technician.
Married with a 10-year-old son, his salary of $2,600 a month is comfortable. But his sudden illness and the need to take five different types of medicine a day could prove a drain on his resources if he needs to pay for it all with cash.
Over at NHC, Associate Professor Koh Tian Hai said only 1.3 per cent of patients with the DES get blood clots within nine months of getting stents inserted. Of these, one in four gets clots because the patient had stopped taking medication.
But he said that with the expansion of Medisave - the portion of CPF used to pay for treatment of serious medical problems - from last month to cover chronic heart problems, patients can draw on their accounts for up to $300 a year.
While this is not enough to cover the additional nine months' supply of Plavix, patients can also draw on the Medisave accounts of family members.
Explaining why patients are given only three months' supply, Prof Koh said their cases have to be reviewed to see if it is safe for them to continue taking the medicine.
He added: 'Furthermore, drug potency is ensured when medication stocks are not kept for excessively long durations by patients.'
Prof Tan assured patients that NUH ensures that drugs given for a year are within the expiry period, so potency is not affected.
Madam Halimah Yacob, who heads the Government Parliamentary Committee (GPC) for Health, feels strongly that the Government should subsidise drugs that are a necessary part of treatment.
Failing that, she said the heart centre should follow NUH's practice: 'NUH did the smart thing. That's what doctors are trained to do, to keep patients alive.'
salma@sph.com.sg
-----------------------------------------------------------
Feb 22, 2007
Heart pill: Pay $1,000 less the NUH way
When discharged, patients get one year's supply, covered under Medisave, insurance
By Health Correspondent, Salma Khalik
FOR subsidised heart patients in need of potentially life-saving medication, where they get treated could mean a difference of more than $1,000 when footing the bill.
At the National University Hospital (NUH), a patient gets a year's supply of medicine when they are discharged, covered by Medi- Shield or Medisave. At the National Heart Centre (NHC), however, a patient gets only three months' worth of drugs. After that, they have to pay for it out of their own pockets.
About 5,000 people here are fitted with stents each year. More than half get drug-eluting stents (DES), devices that slowly release medication to prevent the artery walls re-thickening. But they increase the risk of getting blood clots.
So such patients are usually given two antiplatelet drugs for at least a year to prevent the formation of blood clots that could cause a fatal heart attack.
One of the drugs is simple aspirin, which costs only a few cents per pill.
The other, Plavix, costs about $4 each. No generic brands are available for this; neither is there a subsidy for the medicine once the patient leaves the hospital.
But NUH provides a whole year's supply of Plavix when patients are discharged, so it forms part of their hospital bill.
This means that they can claim the cost of medicine against any hospital insurance they may have, or from their Medisave account, so long as it is within their claim limits.
At NHC, the same patient will get only three months' supply of medicine on discharge.
NUH's Associate Professor Tan Huay Cheem told The Straits Times: 'It's such an important medicine, I don't want patients to miss out on it because they can't afford to pay.'
He sees nothing wrong in adding it to the hospital bill for insurance claims, as 'it is part of the medical treatment and there is a real danger if patients stop taking it'.
For Mr Ong Wee Chai, 43, who had a DES inserted at NUH last month, having a year's supply of medicine with him is a real blessing.
'That pill (Plavix) costs more than my lunch,' said the senior petroleum storage technician.
Married with a 10-year-old son, his salary of $2,600 a month is comfortable. But his sudden illness and the need to take five different types of medicine a day could prove a drain on his resources if he needs to pay for it all with cash.
Over at NHC, Associate Professor Koh Tian Hai said only 1.3 per cent of patients with the DES get blood clots within nine months of getting stents inserted. Of these, one in four gets clots because the patient had stopped taking medication.
But he said that with the expansion of Medisave - the portion of CPF used to pay for treatment of serious medical problems - from last month to cover chronic heart problems, patients can draw on their accounts for up to $300 a year.
While this is not enough to cover the additional nine months' supply of Plavix, patients can also draw on the Medisave accounts of family members.
Explaining why patients are given only three months' supply, Prof Koh said their cases have to be reviewed to see if it is safe for them to continue taking the medicine.
He added: 'Furthermore, drug potency is ensured when medication stocks are not kept for excessively long durations by patients.'
Prof Tan assured patients that NUH ensures that drugs given for a year are within the expiry period, so potency is not affected.
Madam Halimah Yacob, who heads the Government Parliamentary Committee (GPC) for Health, feels strongly that the Government should subsidise drugs that are a necessary part of treatment.
Failing that, she said the heart centre should follow NUH's practice: 'NUH did the smart thing. That's what doctors are trained to do, to keep patients alive.'
salma@sph.com.sg
Wednesday, February 21, 2007
Monday, February 19, 2007
Friday, February 16, 2007
Interest rates are subject to periodic review and may be revised at bank's discretion
Citibank Singapore
No, you shouldn't be looking at the 2%p.a.*. The most important statement on Citibank's Step-Up Interest Account is what sgCR has reproduced above, in the title...The sentence (Interest rates are subject to periodic review and may be revised at bank's discretion) means that Citibank can change the interest rate of this savings/checking account.
No, you shouldn't be looking at the 2%p.a.*. The most important statement on Citibank's Step-Up Interest Account is what sgCR has reproduced above, in the title...The sentence (Interest rates are subject to periodic review and may be revised at bank's discretion) means that Citibank can change the interest rate of this savings/checking account.
Thursday, February 15, 2007
Wednesday, February 14, 2007
Tuesday, February 13, 2007
how to contact budget airlines
Like with all consumer transactions, sgCR recommend that consumers get written confirmation of transactions between them and budget airlines, e.g. when the airlines "confirm" that a flight has been successfully rescheduled. But what if the budget airline does not have an email address, or a postal address?
sgCR found that some budget airlines are, shall we say, "running efficiently". One example is Jetstar Asia. A postal address and phone number are provided, but not an email address. sgCR managed to get an email address though...customer.relations@jetstarasia.com...
sgCR found that some budget airlines are, shall we say, "running efficiently". One example is Jetstar Asia. A postal address and phone number are provided, but not an email address. sgCR managed to get an email address though...customer.relations@jetstarasia.com...
The Monetary Authority of Singapore (Amendment) Bill 2007
MAS :News Room, Policy Statements and Speeches:
The 2nd reading of the MAS (Amendment) Bill has passed. Of particular interest to the consumer would be the point below
"Powers to approve a dispute resolution scheme
12. A key aspect of consumer empowerment is to provide consumers with recourse to an affordable, accessible and independent dispute resolution mechanism. It is therefore important for MAS to have the authority to approve schemes for the resolution of disputes arising from the provision of financial services in Singapore. The proposed new powers will also enable MAS to require a financial institution to be a member of an approved dispute resolution scheme and to comply with the prescribed terms of that membership."
The 2nd reading of the MAS (Amendment) Bill has passed. Of particular interest to the consumer would be the point below
"Powers to approve a dispute resolution scheme
12. A key aspect of consumer empowerment is to provide consumers with recourse to an affordable, accessible and independent dispute resolution mechanism. It is therefore important for MAS to have the authority to approve schemes for the resolution of disputes arising from the provision of financial services in Singapore. The proposed new powers will also enable MAS to require a financial institution to be a member of an approved dispute resolution scheme and to comply with the prescribed terms of that membership."
Spam Control Bill
Home/Publication/Bills2007
The Spam Control Bill has been introduced. Do take a look at it...
The Spam Control Bill has been introduced. Do take a look at it...
Saturday, February 10, 2007
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