Shaun WQ Lim - Seedly
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Ex-EEE with a Minor in Business

Shaun WQ Lim

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Ex-EEE with a Minor in Business

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Shaun WQ Lim

  • Answers (355)
  • Questions (1)
  • Reviews (3)

Credit Cards

DBS

How do you check your credit card billing cycle for DBS? Is the "statement date" on the e-statement the last or first day of the cycle?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1d ago
Usually the cycle starts when you activate the card. The statement date is the last day of the cycle. The payment due date is 21 days or so later. You can call DBS to change the billing cycle. Depending on which cycle or dates they have for billing, they can adjust the billing cycle. So if you want to pay your credit bills(payment due date) at the end of the month, your statement date should be at the beginning of the month. They will require you to clear any outstanding payment first. And the cycle may take effect the following month so you may need to pay two months of purchases when the cycle realigns. Do watch for any late payment fees when the cycle changes as some of the bank’s systems will align the previous month purchases to the new cycle and see it as a missed payment with additional finance charges. This happened to me and had to call in to request a waiver.
👍 1

Entertainment

Lifestyle

What's your favourite poverty meal that you'll still eat regardless of your financial status?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1d ago
1. Baked beans with rice 2. Sambal fried rice 3. Steamed vegetables I love my Heinz baked beans. Happiness in a can!
👍 0

Apple

Stocks Discussion

Investments

When to buy a share that is splitting (etc 1 split to 4)? For the recent Apple case, where the stock is splitting 1 for 4, should investor buy-in Apple stocks before or after the split and why?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1d ago
Depends on what is your budget and whether the platform you use allows for fractional share investing. I bought Apple share after the previous split as the platform at that time did not allow me to do fractional shares. So after the split, the price per share was more palatable to me. Also take note even after the split, the stock price is also subject to market sentiment and movement. So the price may go any direction after the split.
👍 0

Investments

ETF

Online Brokerages

Is there double taxation for china etfs listed in US?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1d ago
Why not look at China ETFs listed on the HKSE? I don’t think there is WHT on the dividends for Hong Kong.
👍 0

Supplementary Retirement Scheme (SRS)

Retirement

Investments

I understand that there will be a penalty but i want to withdraw SRS funds before retirement age. How do i "pay" the penalty and accrued taxes?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1d ago
Https://www.iras.gov.sg/irashome/Individuals/Locals/Working-Out-Your-Taxes/Special-tax-schemes/Supplementary-Retirement-Scheme--SRS-/Tax-on-SRS-withdrawal/ Through your income tax for the withdrawals. https://www.ifaq.gov.sg/mof/apps/fcdfaqmain.aspx#FAQ1528 Penalty is deducted from the withdrawal sum, I guess?
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Standard Chartered Online Trading

Investments

Online Brokerages

Hi people! About a week ago I opened a trading account with Standard Chartered. How long will it take for me to receive the Securities Trading Account?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1d ago
Not sure if you already gotten your answer. If you are on the online banking website, there should be an option to link to the online trading platform. The online trading platform is on a different page. Alternatively you can use the online trading mobile app and log in using your online banking details.
👍 0

Investments

Online Brokerages

ETF

FSMOne Fundsupermart

Does anyone have a video walkthrough on how to purchase global ETFs using FSMOne?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1d ago
Https://www.youtube.com/playlist?list=PLUe6WG1UWC1hbsBFQn1MrtvGMP3JdXuCI There are video tutorials on Youtube that you can refer to. The only difference would be the ETF ticker name or symbol that you have to find out or can do a search on the platform or internet.
👍 0

Investments

STI ETF

ETF

Stocks Discussion

Online Brokerages

I have invested in STI ETF under the OCBC Blue Chip Investment Plan (BCIP). Am I able to transfer the shares/units to my CDP account? Otherwise, is it possible to transfer it to my FSM One account?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1d ago
Https://www.ocbc.com/personal-banking/investments/blue-chip-investment-plan At the bottom of the page, it states the fees for transfer of the securities/stocks to CDP or other financial institutions. https://www.ocbc.com/iwov-resources/sg/ocbc/personal/pdf/investments/bcip-faqs.pdf Have to go to an OCBC branch to complete the transfer form.
👍 0

CPF IS

CPF

Endowus

Robo-Advisors

Is Endowus a viable use for CPF IS, why or why not? Any suggestions on what other ways equities to invest the CPF OA beyond the 1st 20k for additional interest?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1w ago
Depending on what you want to achieve. Endowus does offer a solution to invest your CPF OA at a reasonable cost. The alternative would be to self invest in the CPFIS approved list of Singapore stocks or ETFs to generate dividends?
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Regular Shares Savings Plans (RSS/RSP)

ETF

Dividends

Where can i invest in a DRIP RSP? im currently using FSMOne but they do not have an option for DRIP in their regular savings plan?
SW
Shaun WQ Lim
Level 7. Grand Master
Answered 1w ago
You could consider using a robo-advisor. Most of them have portfolios that re-invest the dividends. The costs are already factored in the fees they charge.
👍 0
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