ROSHI Releases Report On Credit Card Debt across Southeast Asia
SINGAPORE - Media OutReach Newswire - 26 June 2025 - Singapore based fintech ROSHI has released a new report analysing credit card debt levels across Southeast Asia, providing insights into how consumers in the region are managing high-interest unsecured debt amidst ongoing economic pressures.
Credit Card Debt in ASEAN and Beyond 2025
The report reveals that Singapore has one of the highest average credit card balances in the region with cardholders carrying an average of S$5,335 equivalent to 86% of the average monthly income. While this may appear significant, ROSHI's analysis suggests that strong repayment habits and access to advanced financial infrastructure mean that credit card usage in Singapore is largely strategic rather than unsustainable.
However, the situation varies dramatically across the region. In the Philippines, the average credit card balance stands at S$2,092, while the average monthly income is just S$492 resulting in a debt-to-income ratio of over 425%. This finding highlights growing consumer vulnerability in emerging markets with limited access to affordable credit solutions.
'Our research shows that while Singaporeans are carrying high card balances, they tend to use credit more strategically for cashback and point rewards compared to some of their regional neighbours,' said Mr. Amir Nada, ROSHI CEO. 'But with interest rates on credit cards still hovering around 25–29%, it's critical for consumers to remain proactive in how they manage unsecured debt.'
The report also explores regional macroeconomic trends including inflation, interest rate environments and digital financial adoption offering a broader context to credit card debt dynamics across ASEAN and beyond.
ROSHI remains committed to providing transparent, data-led insights to support smarter financial decisions for individuals in Singapore and the wider Southeast Asian region.
The full report is available at:
https://www.roshi.sg/
About ROSHI
ROSHI is a Singapore-based fintech transforming digital lending across Southeast Asia. Since launching its proprietary automated platform in March 2022, instantly provides personalised loan options to borrowers by leveraging AI algorithms and machine learning. Currently facilitating home and personal loans through partnerships with various lenders, ROSHI has assisted hundreds of consumers in obtaining loan approvals while providing valuable market insights.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
Amazon loses an AWS generative AI boss as tech talent shuffle heats up
A logo for Amazon Web Services (AWS) is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 12, 2025. REUTERS/Benoit Tessier SAN FRANCISCO (Reuters) -Amazon's AWS recently lost a key vice president helping oversee generative artificial intelligence development as well as the company's Bedrock service, as the competition for talent heats up. Vasi Philomin told Reuters in an email that he left Amazon for another company, without providing specifics. A company spokesperson confirmed that Philomin had recently left after eight years with Amazon. Philomin helped lead generative AI efforts and product strategy, and oversaw foundation models known as Amazon Titan. The spokesperson said Rajesh Sheth, a vice president previously overseeing Amazon Elastic Block Store, had assumed some of Philomin's responsibilities. Philomin left Amazon earlier in June. In his biography, Philomin said he helped create and lead Amazon Bedrock, a hub for using multiple AI models and one of AWS's premier products in its battle for AI supremacy. He was a frequent speaker at AWS events, including Amazon's annual cloud computing conference in Las Vegas. An Amazon spokesman noted that there are other vice presidents at AWS who also work on generative AI projects. Amazon is working to bolster its reputation in AI development, after rivals like OpenAI, and Google have taken an early lead, particularly with consumer-focused models. The Seattle-based online retailer and technology powerhouse has invested $8 billion in AI startup Anthropic and integrated its Claude software into its own products including a new revamped version of voice assistant Alexa that it's rolling out to customers this year. In December, Amazon introduced its Nova AI models which provide for text, video and image generation. Earlier this year, it added to the lineup with a version called Sonic that can more readily produce natural-sounding speech. Companies are employing creative techniques to hire top AI talent, including using sports industry data analysis to help identify undiscovered talent, Reuters reported last month. As a result, compensation has skyrocketed for some. However, as Amazon races to produce more advanced AI, it said it expects its own success will lead to fewer corporate jobs, according to a memo from CEO Andy Jassy last growth limits will be driven in particular by so-called agentic AI, which can perform tasks with minimal or even no additional input from people. "As we roll out more Generative AI and agents, it should change the way our work is done. We will need fewer people doing some of the jobs that are being done today and more people doing other types of jobs," Jassy wrote. (Reporting by Greg Bensinger; Editing by David Gregorio)
The Star
5 hours ago
- The Star
Over 20 research projects at UK universities halted after U.S. funding withdrawal
LONDON, June 26 (Xinhua) -- More than 20 projects at Russell Group institutions, an association of 24 leading universities in Britain, have been halted following the withdrawal of U.S. funding, local media reported Wednesday. At least nine research projects at Russell Group universities have received formal stop notices from the U.S. government, according to Research Professional News (RPN), a London-based outlet. These notices, requiring a halt to work due to funding suspension, have resulted in either grant cancellations or suspensions at five Russell Group institutions. Information requests submitted by RPN to all Russell Group institutions revealed that a further 14 projects lost funding after receiving similar notices from their U.S. collaborators. One researcher whose project was delayed told RPN that they "felt like their funding had been used as a pawn." In some instances, British universities were notified by U.S.-based lead researchers who had awarded funding to their British collaborators, only to later inform them that the grants had been terminated.
The Star
7 hours ago
- The Star
Interview: China's tariff-free trade pact for African countries brings development opportunity, says Ghanaian analyst
by Xinhua writer Justice Lee Adoboe ACCRA, June 26 (Xinhua) -- China's recent decision to expand its preferential trade policy, granting zero-tariff access to a total of 53 African countries, has huge positive significance for both global trade and China-Africa trade, a Ghanaian analyst has said. "This is a defining moment for Africa and a shining example of what it means to stick to the principles of globalization and free trade, which we are advocating for," Paul Frimpong, executive director of the Africa-China Center for Policy and Advisory (ACCPA), a Ghana-based think tank, told Xinhua recently in an exclusive interview. The initiative to expand the preferential trade policy, offering tariff-free treatment to all 53 African countries that have diplomatic relations with China, was announced during the recent Ministerial Meeting of Coordinators on the Implementation of the Follow-up Actions of the Forum on China-Africa Cooperation in Changsha, the capital of central China's Hunan Province, earlier this month. Frimpong said the preferential treatment elevates China-Africa relations to a new historical high, highlighting China's attitude of giving equal treatment to all African countries and actively helping them achieve development. China's gesture is also a significant boost for global trade in the complex international environment, where recent reckless imposition of unnecessary tariffs destabilizes and disrupts the global trading architecture, according to Frimpong. "While the world has spent decades building an ecosystem around globalization, multilateralism, and trade. But in recent times, we've seen a movement that undermines this ecosystem that we spent years building," he said. The analyst noted that many global institutions, including the World Trade Organization (WTO), were built to promote global trade, and all WTO members need to promote global trading principles by removing all trade barriers, including punitive tariffs. "However, some recent developments seek to undermine these principles," he observed. Frimpong, therefore, has seen China's expansion of its free-trade policy to 53 African countries as not only an opportunity for Africa but also a perfect substitute for all the least developed countries (LDCs) across the world bearing the brunt of the new tariff war. He recalled that among the countries around the world that already enjoy free access to the Chinese market, 33 of them were African LDCs. The new measure will enable 20 more African countries to enjoy free access to the Chinese market. "This preferential trade treatment presents a significant opportunity for Africa to bridge the trade deficit between the continent and China by utilizing the 1.4-billion-people Chinese market," he said. China has maintained its position as Africa's largest trading partner for 16 consecutive years, with bilateral trade volume surpassing 2 trillion yuan for the first time in 2024 to reach 2.1 trillion yuan (about 293.2 billion dollars), data from the General Administration of Customs of China showed. From January to May this year, China-Africa trade totaled 963.21 billion yuan, marking a 12.4 percent year-on-year increase and hitting a record high for the period. Frimpong said that research by the ACCPA and other institutes indicates a strong demand in the Chinese market for African exports, which is an opportunity for Africa to develop their manufacturing capacities to export value-added products to the Chinese market. "Obviously, this free market for Africa gives African countries the opportunity to diversify their products and meet the demands of the Chinese market. And of course, they will also earn more for their countries," he added.
