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Aik Kai

Collecting miles one at a time and collecting dividends $1 at a time.

Aik Kai

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Collecting miles one at a time and collecting dividends $1 at a time.

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Aik Kai

  • Answers (183)
  • Questions (0)
  • Reviews (6)

Stocks Discussion

Investments

ValueChampion

Bull Market

Online Brokerages

Why is no one bullish on SEA Ltd, the parent company of Garena and Shopee? The stock has been on the rise the past 3 months. Any thoughts?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 25 Jun 2020
SEA Ltd is listed in US, which means dividends are subjected to 30% tax. Not very nice ah. besides, buying overseas stocks also a bit troublesome so... In any case, I don't think no one noticed it. It is just that the focus around here centre on SG stocks over other countries' stocks so no one is talking about it much.
ūüĎć 2

Credit Cards

Standard Chartered

Payments

I forgot to pay stanchart credit card bill of 6 dollars. Will I incur late payment charges?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 25 Jun 2020
Yes you will. The late charges will apply at the end of the next statement cycle. best now is PAY THE 6 DOLLARS, call Stan Char and apply for waiver of late charges. they normally okay de.
ūüĎć 0

Credit Cards

Payments

Lifestyle

Do you check your credit card bills to ensure that you're billed correctly?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 25 Jun 2020
Personally, I would glance through the statement and look out for things that are out of the norm. Like, the vendor name is very weird or you know, is not among those you regularly shop at. Unless you are really short on time, i would highly recommend you check. Spend a good 15 minutes or so every month to look through and jog your memory on the various transactions. Of course you don't need to be exact on the amount spent. I always aga aga. You can assume the bank to do its job. But banks do slip up sometimes and when they do slip up, you cannot fault them as they would say in their statement, please raise disputes within 7 days. I rather be on the safe side sometimes. Might even save more time. Cheers
ūüĎć 1

CPF

Investments

Is there anyway to do away with the monthly $2 fee from banks for CPF OA investment holdings?
Aik Kai
Aik Kai
Level 7. Grand Master
Updated on 23 May 2020
Short answer, no Think of it as a service fee that you pay for their service. Although, what service you receive is debatable
ūüĎć 0

Investments

Savings

OCBC

Fixed Deposits

COVID-19

Why did OCBC terminate my Fixed deposit of 2.05%?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 08 May 2020
Banks earn money by margin. Simple example, You deposit with them $60K at 2.05% interest per annum. They take the money and loan to other people at 3% interest (or more) per annum. So they earn the difference in interest. Banks need money now, of course. But with the economy so bad, it means loans are not doing well. If their loans are not doing well, they will lose more money if they have to pay you interest. Simple example. OCBC loan a business $60K at 3% interest. If the business is not paying back the loan, OCBC is losing money by paying you 2.05% interest. To them, terminating your FD means they are saving cost as they don't need to pay you the interest. Hope this helps in a bit. Cheers
ūüĎć 0

Stocks Discussion

Investments

If I buy shares today when the ex date for dividend payout is tomorrow, would i still receive the dividend payout even though it takes a few days to process the transaction?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 04 May 2020
Yes. Think of Ex Date as the books closing date. As long as the company books recognise you as holding on to their shares, you get paid dividends on the Pay Date. Just a question. Ex Date is normally not known until the management of a company declares it. Besides, we also don't know the dividends they plan to pay. So... are you referring to Pay Date of the dividends instead? In which, then NO to your question. As long as you don't own stocks before the Ex Date, you are not getting paid on Pay Date. Hope this clarifies. Cheers
ūüĎć 0

Promo Codes

AMEX KrisFlyer Ascend Card

Credit Cards

Anyone has referral codes for AMEX Credit Cards?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 04 May 2020
You can use mine: www.amex.sg/refer/aikkatoa32?XLINK=MYCP Thanks!
ūüĎć 0

Investments

STI ETF

Hi I recently started a RSP with NIKKO STI ETF. How do I calculate the dividends I will get if I hold it for 10yrs?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 04 May 2020
Dividends are paid out twice a year and the payout amount varies. It depends on the fund manager to determine the dividends given out. Also, market conditions play a part. However, you can refer to this link and based on historical data, do a rough calculation. Start an excel sheet, pump in the numbers and you should be able to calculate. Cheers.
ūüĎć 0

Investments

Should I link my CDP account to my FSM one account?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 30 Apr 2020
If I am not mistaken, FSMone keeps your stocks in their custodian account. So if you forsee a future whereby you want to have full ownership of your stocks, link it. If you see yourself using FSMone for a very long period of time and all buy/sell transactions will be done via FSMone, there really isn't a need. Cheers
ūüĎć 0

Income Tax

I was given an IPPT award of $200 in 2018 which was taxed in 2018. However, I was taxed $200 under employment income in 2019 when I did not receive anything. Why was I charged $200 extra in 2019?
Aik Kai
Aik Kai
Level 7. Grand Master
Answered on 28 Apr 2020
Honestly, I would recommend dropping IRAS an email. They will be able to better advise you.
ūüĎć 0
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