• FPAS Lunchtime talk on “Implementation and Growth of ETF”

The Financial Planning Association of Singapore (FPAS) is organising a lunchtime talk on iSHares ETFs & Growth of ETF Market. The talk will touch on the Benefits of iShares ETFs, Product Comparisons and Portfolio Strategies.

Details of the talk 

Date: Wednesday, 26 August 2009
Time: 11.45am to 2.00pm,
Venue: Capital Tower, Level 9, FTSE Room

Speakers:

1. Mr Sriram K Reddy, Client Director, Southeast Asia, Associate of Barclays Global Investors
2. Ms Eleanor Seet, Senior Director, Private Wealth Distribution, Asia ex Japan, iShares from Barclays Global Investors.

Please visit here for the registration form.

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• CASE’s internal investigations on Brookes revealed

CASE’s latest investigations on Brookes Business School revealed that the school has withheld insurance certificates from students, resulting in students not knowing how much they were insured; students were either not insured or under-insured. For more information, please view CASE’s media release here

Media report is available here and here.

• Adult chatlines not under regulation

According to an article published in Shin Min Daily News dated 28 July, a consumer was complaining that there were advertisements of adult chatlines published in magazines and some other reading materials. Her concern was that young children may dial such chatlines after viewing the advertisements. 

However, the Advertising Standards Authority of Singapore (ASAS) has expressed that the advertisement did not breach any of the advertising guidelines, but stated that such advertisements should not be placed near schools, or religious sites etc. 

• Know your liabilities when you lost your credit card

A consumer could face huge losses due to lost or stolen credit cards, and the reason could be due to the limit for liabilities that banks have set for the consumers. According to the Straits Times report published 28 July 2009, consumers are liable for unauthorised transactions before the loss is reported for Singapore-issued cards. The question is how many consumers know such a clause exists?

For unauthorised transactions, especially if the cause is due to negligence of the retailers, it would be unfair to demand the consumer to be liable for all these transactions.

All three parties, the bank or credit card company, retailers and consumers share a responsibility to prevent credit card fraud.  

Learn more about the pitfalls of stolen credit cards here.

• Phantom students in the school? CASE says no such cases

Shin Min Daily News received some feedback from private school students that “phantom students” are appearing in some local private schools. According to the paper, the “phantom students” paid school fees, marked attendance for the whole week, rarely attended classes, and hid under such disguise to work.

So far, CASE did not receive any cases on this issue. If the school is found to be conducting such practices, CASE will not hesitate to take action against the school. 

• CASE receive about 160 cases relating to the plumbing industry each year

According to the Singapore Plumbing Society, there are about 400 certified plumbers in Singapore, and the number of such certified plumbers is decreasing as they are not willing to spend time training on a long time basis. As a result, consumers’ interests may not be protected especially when there are bogus plumbers around. 

Relating to the plumbing industry, CASE receives around 160 cases each year, and the nature of the cases include unsatisfactory services, misrepresentation, misleading claims and overcharging. 

CASE would like to provide the consumer tips for consumers
        
1. Check out and confirm the prices of services before engaging a plumber to carry out repairs. Make sure any amendments or additions are put in writing to avoid any misunderstanding.
        
2. CASE and the Singapore Plumbing Society have signed a memorandum of understanding to help resolve disputes between consumers and society members. 

3. Check with the Singapore Plumbing Society to verify credentials. 

4. Check with the PUB for licensed water service plumbers.

5. If a company issues no receipt, inform the Inland Revenue Authority of Singapore.
        
6. It is an unfair practice for a plumber to charge a substantially higher bill than the estimate provided. The consumer can insist on paying only what was estimated. 

• Misleading condominium advertisements with ‘planned’ MRT stations

It is common that developers use nearby MRT stations as a selling point for apartments. However, a developer has recently ran a map of their condominiums with ‘planned’ MRT stations, and the ‘planned’ stations are unconfirmed stations according to LTA.

CASE is of the view that such advertisements may be in breach of the Singapore Code of Advertising Practice, and could mislead consumers.

Read more here

The world of food & beverage
     
12 cases filed (January to December 2008) 

NATURE OF CASE

Failure to honour contract

CASE STUDY

A consumer placed an order with a caterer to provide food for a group of people. The amount of food delivered was insufficient and the caterer was late in delivering the food. The caterer acknowledged the mistake and was prepared to give a cash refund but both parties were unable to agree on the amount of the refund.

OUTCOME OF CASE 

After Case negotiated on his behalf, the consumer got a 20 per cent cash refund.
  
CONSUMER TIPS
  
1. Do not leave the amount of food provided to the sole discretion of the caterer. The consumer should confirm the amount of food ordered and also find out if a buffer amount will be provided in case what is provided is insufficient.

2. Ensure that the menu and the amount payable are confirmed before signing the contract. 

3. All relevant details pertaining to the transaction should also be in writing. 

4. Make sure the food caterer is licensed.

5. Consumers can lodge a claim with Case or file one at the Small Claims Tribunal if the caterer engages in unfair practices as defined under the Consumer Protection (Fair Trading) Act.

Our new weekly Buyer Beware column (Chinese edition) is now available on My Paper. Look out for the publication every Monday!

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