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Source : http://www.channelnewsasia.com/stories/singaporelocalnews/view/380908/1/.html
LKY School of Public Policy receives S$14m donation
By Ryan Huang, Channel NewsAsia | Posted: 07 October 2008 1646 hrsSINGAPORE: The Lee Kuan Yew (LKY) School of Public Policy has received a S$14 million donation, after a S$7 million gift from Singapore tycoon Oei Hong Leong was matched dollar-for-dollar by the government.
On the day global financial markets saw red, the Singapore businessman saw an opportunity.
Oei's daring gamble on beleaguered insurer American International Group's shares in mid-September paid off, netting him a handsome gain of S$7 million. The 60-year-old decided to donate the money to the LKY School of Public Policy.
Oei said, "It is better to give than to receive. This kind of windfall money... Immediately, I thought I should donate to charity, and it happened to be the birthday of MM Lee Kuan Yew."
The sum will go into an endowment fund, which will generate income to fund scholarships for students from China.
Oei said, "I think it is important for Singapore to have an investment in future Chinese leaders. After they study in Singapore, they go back, they will remember how they got their degree. If you got a tender competing with Taiwan and the Japanese, if the price is the same, I think they will pick Singapore."
This is Oei's second donation to the school. He had donated S$1 million five years ago when the school started operations.Rich man do things differently...carry balls also put nicely...
Normal folks like us....continue to be peasants bah...
Edited by Xcert 08 Oct `08, 3:51PM
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Seek advice on best way to settle credit cards & loans outstanding?
My colleague's husband gambled and got burnt. Regretted, too late! Owed 5 credit card companies (2x$8K, 2X$6K, 5K), 2 credit Loans ($7K, $5K), 2 ready-credits ($6K, $7K). Altogether $58K. My colleague got only $20K to help him. How to pay $58K?. The funny thing is this guy knows how to go take from one credit card and pay another and yet doesn't know how much interest he is being charged. Every month just pay minimum sum. Correct me if I am wrong, I think it is 24%. Can someone show me the calculation so that I can pass to this moron. It seems he also borrowed his sibling's car and has an outstanding loan of $39K - paying $800 a month - 4 more years to go. My poor colleague, got 2 young kids to feed.Cheers!
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Originally posted by Fishe8591:
Seek advice on best way to settle credit cards & loans outstanding?
My colleague's husband gambled and got burnt. Regretted, too late! Owed 5 credit card companies (2x$8K, 2X$6K, 5K), 2 credit Loans ($7K, $5K), 2 ready-credits ($6K, $7K). Altogether $58K. My colleague got only $20K to help him. How to pay $58K?. The funny thing is this guy knows how to go take from one credit card and pay another and yet doesn't know how much interest he is being charged. Every month just pay minimum sum. Correct me if I am wrong, I think it is 24%. Can someone show me the calculation so that I can pass to this moron. It seems he also borrowed his sibling's car and has an outstanding loan of $39K - paying $800 a month - 4 more years to go. My poor colleague, got 2 young kids to feed.Cheers!yes its 24%....for now.
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Is it calculate as follows :-
8000 x 24% = 1920 per annum or 160 per mth
that means unless he pays the full amount of 8K at one go, if he just pay the minimum sum or whatever the amount, he will still be charged 24% on $8K (as though it is not been paid).
My advice to my colleague is, ask her hubby to pay 2 big bills first . Am I right? Because I don't owe credit cards n no loans so not knowledgeable in these areas. My colleague doesn't want to confide in anyone except me. So I must gather the correct information for her. Kind fellows out there, please confirm for me. Many thanks!
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Seek advice on best way to settle credit cards & loans outstanding?
Hi, how come nobody's helping me. Me, first time using sgforum. Very "lost" , have so much difficulties meddeling with it until finally got it. My colleague's waiting for my advice. Or can recommend which category I should put tso more people can see. I probably must have came to the wrong place - Money category.
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Originally posted by Fishe8591:
Is it calculate as follows :-
8000 x 24% = 1920 per annum or 160 per mth
that means unless he pays the full amount of 8K at one go, if he just pay the minimum sum or whatever the amount, he will still be charged 24% on $8K (as though it is not been paid).
My advice to my colleague is, ask her hubby to pay 2 big bills first . Am I right? Because I don't owe credit cards n no loans so not knowledgeable in these areas. My colleague doesn't want to confide in anyone except me. So I must gather the correct information for her. Kind fellows out there, please confirm for me. Many thanks!
Post this in the money or investments forum.
There will be people who can give you some advice on this.
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On a side note, I heard a lot of people getting whacked in the stock market and the credit crisis.
From young savvy investors to retirees.
Investors keep buying and buying despite the market falling like a knife and I hear and read about people losing like 10K to 100 over K in the market.
And even retirees who thought structured products were safe have lost their life savings.
Damn, so much bad news out there.
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