Tag Archives: OCBC

I signed on my resignation letter. End up my lanjiao manager go write me a new one to sign. The letter he made consists of untrue details whereby I don't agree to. Wad a dog... People resign he still can use the chance to make himself look good.

As Indonesians are transferring billions of F/D funds from Singapore back to Indonesia more of our banks are feeling the pinch.

I received this letter last week from OCBC telling me they were going to close my corporate account in 2 weeks. Called them up to demand an explanation and all we get is a high-handed and arrogant reply that it was for 'business reasons we cannot disclose'. So now they anyhow can suka-suka close business accounts? It gives small business owners like us a lot of problems.

Local banks have recently implemented "currency conversion fees" when their credit cards are used for overseas purchases. I had used my OCBC credit card for purchases overseas - once at Amazon.com and the other with Paypal. Both times, when asked by Amazon and Paypal if I wanted to pay in Sing Dollars rather than U.S Dollars, I decided to pay in Sing Dollars knowing that there would be "currency conversion fees" if I paid in U.S Dollars. When the credit card statements came, I discovered I was still charged for currency conversion even though NO conversion was done by OCBC since I paid in Sing Dollars.

OCBC bank on Monday announced it would give 8,000 of its Singaporean employees an SG50 gift package worth S$5 million. From its news release, OCBC said 3,000 of its junior executives and unionised employees in Singapore will each receive 100 OCBC shares so that they can have a stake in the bank's growth.

United Engineers (UE) Limited, a local environmental engineering and property services company, has been defrauded of over $11 million dollars worth of assets between the financial years 2010 and 2014. Local banking giant Overseas-Chinese Banking Corp is known to have a 20.47% share in the company. In a statement today, UE announced that a number of employees from a UE subsidiary, United Engineers Developments, were suspended because they had forged proposed contracts so as to award contract tenders to certain preferred third party contractors for their own benefit.

The chief executive officers of Singapore's three local banking groups saw their total remuneration rise by around S$1 million each last year as profits grew. According to DBS Group's latest annual report, CEO Piyush Gupta earned S$10.12 million last year, up from S$9.2 million in 2013. The higher pay comprised a base salary of S$1.2 million, S$3.79 million cash bonus, S$5.07 million in shares and S$55,545 in other non-cash payments.

My fixed deposit matures today and OCBC has this 1.3% interest rate for fresh funds. When I wanted to withdraw my fixed deposit and put the funds into the new promotional 1.3% fixed deposit. OCBC said no and reject me, saying it must be fresh funds. I thought it was a ridiculous OCBC and told them , isn't it the same as me withdrawing the CASH, walk out of the bank and reappear with the CASH at the deposit counter as fresh fund? Isn't it the same?