On Da Street

I supposed to write down my thoughts on Tanda Putera after I watched it, but due to lack of time, I am still writing it.

However, this one should go first as this caught my attention today, and I think worth of sharing:

SINGAPORE: Singapore has announced new rules to cap credit card and other forms of unsecured lending by banks, amid growing concerns about rising household debt in Asia by consumers once known for their thrift.

Asia has seen consumer debt levels rise sharply in recent years due to low interest rates and aggressive lending by banks.

For Singapore, the ratio of household debt to gross domestic product now stands at around 75%, up from 55% in 2010 and 45% in 2005, according to data compiled by Standard Chartered.

“The rise in household debt is a fairly generic trend across Asia,” said Selena Ling, head of treasury…

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