Definition of “business trust”
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A business trust is a business enterprise structured as a trust. A business trust (“BT”) is a business enterprise structured as a trust....
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- MAS
- Speeches
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- Mr François Villeroy de Galhau, Governor, Banque de France, distinguished guests, ladies and gentlemen, good morning. I thank Banque de France for the opportunity to share my thoughts at this Lecture. Both France and Singapore are mature economies, enjoying a high per capita income but reaching the limits of growth through increases in factor inputs. If we are to continue growing and enrich the lives of our citizens, it must be through innovation. And if we are to spread the benefits of growth, innovation
- MAS
- Guidelines
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- For units in business trusts (BTs): RISK WARNING FOR BUSINESS TRUST UNITS The Business Trust may not always pay you distributions. You will likely lose money if the Business Trust gets into financial difficulties.
- You will likely lose money if the REIT or business trust gets into financial difficulties.
- If the Business Trust is wound up, unitholders will be the last to be paid off. For stapled securities comprising units in a REIT and a BT: RISK WARNING FOR STAPLED SECURITIES The stapled securities may pay less distribution if rental or occupancy rates fall.
- MAS
- Speeches
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- Mr Nicholas Hadow, Chairman of IMAS Distinguished Guests Ladies and Gentlemen 1. A very good morning to all of you. I am delighted to join you at the IMAS 20th Anniversary Conference today. 2. Let me start by congratulating IMAS on reaching this significant milestone. IMAS started in 1997 with 10 founding members. Today, you have more than 100 members who collectively manage over S$800bn of assets in Singapore. 3. Over the last 20 years, IMAS has played an instrumental role in developing
- MAS
- Consultations
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- We would also appreciate MAS confirmation that units in an exchange traded fund, business trust or a real estate investment trust that is listed on SGX are not subject to the short selling reporting requirements.
- In addition to primary listed shares and secondary listed shares, the scope of capital markets products subject to short selling reporting requirements should include units in listed real estate investment trusts and business trusts (REITs and BTs).
- Some cited the operational burden of keeping track of secondary listings that fall out of the scope of specified capital markets products. 3.3 A few respondents highlighted that business trusts (BTs) and real estate investment trusts (REITs) should be included as they are an important
- MAS
- Economic Essays
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- By Ivan Png and Charmaine Tan This study was published as Special Feature C in the April 2020 Macroeconomic Review. Special Features 109 Special Feature C Privacy, Trust in Banks, and Use of Cash Ivan Png and Charmaine Tan1 1 Introduction In China, street vendors, buskers, and even beggars accept electronic payments (Jenkins, 2018). By contrast, six of ten Tokyo restaurants require payment in cash (Lewis, 2019). Worldwide, the share of retail transactions
- MAS
- Speeches
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- This would require financial advisory firms to focus on three key areas: a) first, the Board and senior management need to set the right tone and culture to promote fair dealing with customers; b) second, representatives have to adopt a long-term view of the business and build trust with their customers
- MAS
- Guidelines
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- business for up to 30 clients with each clients trust assets not exceeding S$2 million under Regulation 4(1)(b)(iv) of the Trust Companies (Exemption) Regulations. 4 Corporations carrying on business in dealing in capital markets products that are over-the-counter derivatives
- Paragraph 7(1)(b) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations (SFR). 3 Any practising solicitor, foreign practitioner, Singapore law practice, Joint Law Venture, Formal Law Alliance or Qualifying Foreign Law Practice carrying out trust
- business specified in the First Schedule of the Trust Companies Act, and any other material function; (j) (k) (l) head of actuarial, appointed actuary, or certifying actuary, who, in relation to a licensed insurer or foreign insurer operating in Singapore under a foreign insurer scheme,
- MAS
- Economic Essays
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- This study was published as Special Feature C in the April 2016 Macroeconomic Review. Special Features 97 Special Feature C Corporate Governance And The Finance Sector: An Asian Perspective by Randall Morck and Bernard Yeung1 Introduction The hallmark of a modern economy is a tightly focused specialisation of both people and that dramatically boosts productivity. firms Specialisation requires efficient markets because specialised people and firms, by definition
- MAS
- Media Releases
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- 17 May 1999... All banks have to be licensed by the Monetary Authority of Singapore ("MAS") to conduct banking business in Singapore. As at end April 1999, there are 142 commercial banks in Singapore. The three categories of commercial banks in Singapore are full banks, restricted banks and offshore banks. Full Banks Full banks can conduct the whole range of banking business. As at end April 1999, there are 31 full licence banks, 9 of which are locally-incorporated, while the rest are branches
- MAS
- Consultations
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- business trust, as the case may -------- be; or (ii) executive director or an equivalent person of the manager of the trust or the trustee-manager of the business trust (as the case may be), and includes a person carrying out the duties of any such office if the office is vacant.
- This would be similar to the treatment under existing legislation in Singapore for business trust trustee-managers and real estate investment trust managers.
- For the purpose of paragraph 1.1, transferable securities refer to: shares or securities equivalent to shares; and i) Guidance Shares include units in a business trust.