The Week In Numbers: Why We Lose Money On Shares

United Overseas Bank (SGX: U11) wants to make our wallets thinner. The bank said customers will soon be able to withdraw cash from ATMs simply by tapping their mobile phones. The bank said the first two card-less cash machines will be in Raffles Place and Alexandra. But where do you put the cash after you get it?

The Singapore government said it will review ways to tighten the Central Provident Fund Investment Scheme (CPFIS). It said that 45% of CPFIS users actually incurred losses over the last 10 years. Two reasons for the underperformance were behavioural biases and high fees. Nothing ever changes.

Singapore Exchange (SGX: S68) reckons that Swiber Holdings had potentially breached paragraph 25 of Appendix 7.1 to Rule 703. This relates to disclosure lapses on its $710 million West Africa project. Very careless.

Three companies have thrown their hats into the ring to be Singapore’s fourth telecom operator. The hopefuls are MyRepublic, airYotta and TPG Telecom. The entrance of Singapore’s fourth mobile provider, which will have to pay at least S$35 million for the licence, has unsettled the incumbents Singtel (SGX: Z74), StarHub (SGX: CC3) and M1 (SGX: B2F). Ringing in the changes.

And finally, get your earplugs ready. Formula One racing comes to town this weekend, if you haven’t already noticed by the traffic jams in Marina Bay. Race promoter Singapore GP has reportedly splashed out $5 million on the lifestyle area known as the Paddock Club. Post-race entertainment includes KC & the Sunshine Band and Kylie Minogue. A three-day pass costs $8.800. I Should Be So Lucky…Lucky, Lucky, Lucky!

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.