logo
Unilink Credit Supports Communities to Redefine Industry Perceptions

Unilink Credit Supports Communities to Redefine Industry Perceptions

CNA12 hours ago
SINGAPORE - Media OutReach Newswire - 19 August 2025 - Licensed moneylenders in Singapore often contend with an enduring set of negative stereotypes: predatory practices, exorbitant rates, and a focus on exploiting the vulnerable. But Unilink Credit is quietly working to challenge these perceptions. Instead of publicity drives, the company focuses on ongoing support for corporate social responsibility in Singapore, reaching some of the most vulnerable local communities.
A Zeno Group survey of over 7,000 consumers, including 1,000 in Singapore, found that nearly 8 in 10 Singaporeans consider a brand's engagement with social issues when deciding what to buy or recommend. This highlights the growing business impact of corporate social responsibility.
Quiet Contributions to Community Welfare
The company has supported initiatives that provide elderly residents and low-income families with practical assistance, such as school materials for children, festive meals, and nutritious care packages during the Lunar New Year. Although these corporate social responsibility contributions are acknowledged by partner organisations in Singapore, Unilink Credit has chosen not to publicise them widely.
"We did all these with heart and not for any marketing purpose," said Daphne, Director of Unilink Credit. "You don't have to be very wealthy to do charity. Every bit counts, and it doesn't always need to be monetary. The corporate social responsibility effort comes from the heart."
A Different Side of Lending
For Unilink Credit, the connection between lending and giving is not contradictory. Both are guided by the same principles: trust, responsibility, and social impact. The company believes that a licensed moneylender's role in Singapore extends beyond simply providing loans. It can also involve offering regulated, transparent credit services and channelling resources toward community support.
Impact Beyond Numbers
The most rewarding outcomes from their corporate social responsibility efforts in Singapore, they say, are the moments that statistics can't capture: the smiles of elderly residents at a community lunch, the gratitude from families receiving care packs, and the excitement of children awarded for their academic achievements.
Looking ahead, Unilink Credit plans to continue supporting causes that serve the elderly and low-income children, even when the organisations fall outside of its cultural or religious background. "We're open to helping as long as it reaches those who need it most," Daphne, Director of Unilink Credit added.
In an industry where public perception is slow to change, the company hopes its example will offer a more balanced perspective. It aims to show that lending and corporate social responsibility in Singapore can exist side by side.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ISCA Launches $2 Million Career Support Programme to Help Jobseekers Pivot into Accountancy Profession
ISCA Launches $2 Million Career Support Programme to Help Jobseekers Pivot into Accountancy Profession

CNA

time16 minutes ago

  • CNA

ISCA Launches $2 Million Career Support Programme to Help Jobseekers Pivot into Accountancy Profession

SINGAPORE - Media OutReach Newswire - 19 August 2025 - With the demand for accountancy and finance professionals growing amid Singapore's transition to a digital and sustainable economy, the Institute of Singapore Chartered Accountants (ISCA) today launched a $2 million Career Support Programme to help jobseekers and mid-career individuals pivot confidently into the accountancy profession. Unveiled by Ms Indranee Rajah, Minister in the Prime Minister's Office, Second Minister for Finance and National Development at ISCA's Annual Dinner, the initiative is designed to provide both practical career support and financial relief at a time when many Singaporeans are seeking to reskill and future-proof their careers. Developed in partnership with the Employment and Employability Institute (e2i) and Workforce Singapore (WSG), the Career Support Programme includes: Professional Affiliation & Recognition – Eligible jobseekers will enjoy ISCA membership fee waivers, gain recognition through ISCA credentials, and access structured pathways to professional designations. Learning & Upskilling Support – Complimentary networking events, talks, and e-learning via ISCAccountify, alongside a "Skills First, Pay Later" scheme that lets participants train first and only pay when they secure employment. AI-enabled ISCA Talent Marketplace – As the programme's centrepiece, this platform connects jobseekers with employers, conducts personalised skills-gap analyses, and provides tailored recommendations for next career steps. Since its soft launch in July, the platform has featured over 100 job postings by 28 employers, and over 150 job profiles created by jobseekers. The roles range from sustainability, AI consultancy to business finance and traditional accountancy roles. Accountancy careers continue to experience sustained demand and the diversity of roles across industries offer opportunities for professionals who are open to upskill and expand their skillsets or even do a career switch. Professionals from general administration, customer care, engineering and equity investment who have leveraged WSG's Career Conversion Programmes have successfully pivoted to assurance and financial accounting roles. Ms Dilys Boey, Chief Executive, WSG, said: "The ISCA Career Support Programme offers a robust platform that guides individuals into accountancy careers. The synergy between WSG's career advisory services and ISCA's AI-enabled Talent Marketplace as well as industry expertise creates more opportunities for Singaporeans to join the sector at any career stage. This partnership not only enhances employment outcomes but also makes accountancy a more accessible career choice for all. Together with ISCA, we're committed to helping Singaporeans discover and pursue meaningful careers whilst enabling companies to fulfil their talent requirements." The Career Support Programme will also prepare professionals for the impact of AI on jobs. According to the World Economic Forum's Future of Jobs Report 2025, global macro trends will create about 170 million new jobs this decade while displacing 92 million roles. Technological skills, especially AI and big data, are projected to grow in importance more rapidly than any other skills in the next five years. In anticipation of these shifts, ISCA had committed $2 million to spearhead its AI for Accountancy Industry (AI for AI) initiative through a multi-pronged approach. Through research, education, and adoption, the initiative will support firms and accountants in effectively harnessing AI across audit, non-audit, and commercial sectors. ISCA President Mr Teo Ser Luck said: "AI will fundamentally reshape the accountancy sector and fuel demand for accountants with new skills to thrive in the digital economy. The ISCA Career Support Programme reflects our strong commitment to the profession and its people. By providing resources, financial relief, and practical tools such as the AI-enabled ISCA Talent Marketplace, we aim to support individuals — whether they are new entrants to the profession or experienced accountants displaced by change — through skill-gap training and career opportunities. Our goal is to help them find their footing, stay relevant, and move forward with clarity and purpose." Hashtag: #CareerSupportProgramme #CSP #Jobs #AI #Accountancy The issuer is solely responsible for the content of this announcement. Institute of Singapore Chartered Accountants (ISCA) The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 40,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries. Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession. ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation. ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries. .

Johor courts Korea's tech giants, betting big on E&E future
Johor courts Korea's tech giants, betting big on E&E future

Independent Singapore

time2 hours ago

  • Independent Singapore

Johor courts Korea's tech giants, betting big on E&E future

Photo: Facebook / Lee Ting Han JOHOR BAHRU: Johor officials recently held a meeting with prospective investors in the electrical and electronics (E&E) sector listed on the Korea Stock Exchange, highlighting the state's growing role as a regional hub for high-tech industries. The talks also involved Korean companies with existing operations in China and Singapore. In a Facebook post translated from Johor State Executive Councillor Lee Ting Han, the discussions were described as 'very meaningful' given the E&E sector's status as one of the main drivers of Johor's and Malaysia's economy. Lee emphasised Johor's robust ecosystem supporting the E&E industry, from component supply chains and world-class port facilities to efficient logistics and a highly skilled workforce nurtured by universities and technical institutions. The presence of multinational firms has already made Johor a hub with a complete support ecosystem for global players in electronics manufacturing. Johor's advantageous position Johor's strategic advantages also stood out during the meeting. Its location next to Singapore, the connectivity offered by Pasir Gudang and Tanjung Pelepas ports, and a reputation for investor-friendly policies have collectively made the state 'more prominent in the eyes of global investors,' Lee noted. He added that potential new investments could bring 'an abundance of technology, quality job opportunities, and huge added value for the development of Johor and the welfare of the Johor Nation.' Read related: Johor leads Malaysia in growth for the first time, charting a new economic era Why it matters for Singapore For Singapore, Johor's strengthening position in the E&E sector carries significant implications. Many multinational corporations operate supply chains that operate on both sides of the Causeway, with Singapore serving as a financial, R&D, and logistics base while Johor provides land, labour, and manufacturing capacity. As Johor attracts more Korean capital and technology into its E&E ecosystem, Singaporean firms are likely to benefit from greater integration and collaboration, particularly in semiconductor design, testing, and distribution. This deepens the 'twin engine' relationship between Singapore and Johor, where the former anchors high-value functions and the latter supports large-scale production. Analysts say that smoother regional connectivity, especially through Johor's ports and Singapore's global trade networks, could make the southern corridor of Peninsular Malaysia and Singapore one of Asia's most dynamic electronics clusters. Read also: Johor's data centre boom set to drive 18-fold surge in water demand, pushing shift to reclaimed wastewater () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });

Should you park more savings in ringgit? What weekly JB visitors need to know about hedging, FX rates, and Malaysian bank accounts
Should you park more savings in ringgit? What weekly JB visitors need to know about hedging, FX rates, and Malaysian bank accounts

Independent Singapore

time2 hours ago

  • Independent Singapore

Should you park more savings in ringgit? What weekly JB visitors need to know about hedging, FX rates, and Malaysian bank accounts

MALAYSIA: For Singaporeans who head to Johor Bahru every weekend to shop, dine, or stay overnight, the question of whether to 'hedge' against a rising ringgit is becoming a common personal finance dilemma. On Facebook, one frequent traveller to JB shared that he keeps RM10,000 (S$3,000) in cash as a hedge. 'I usually buy when the rate is 3.35, which is more favourable than 3.25 now. I go to JB to stay at a hotel once a week. Should I increase my hedge to RM20,000 or RM30,000? Should I open a ringgit account in a Malaysian bank to earn 3% interest if available?' he asked. The post has sparked lively debate online, touching on everything from the feasibility of opening a Malaysian bank account as a foreigner to whether ringgit deposits actually make sense in the long run. Why hedge in ringgit? For those who spend regularly across the Causeway, holding a stash of ringgit can act as a buffer against short-term fluctuations. If the currency strengthens from 3.35 to 3.25 against the Singapore dollar, those who stocked up earlier effectively lock in cheaper hotel stays, meals, and shopping. Some commuters liken it to 'prepaying' for future consumption, much like buying travel vouchers. The difference, however, is that the ringgit's track record is one of long-term depreciation, making such hedges inherently speculative. See also Ipoh - The Perfect Weekend Escape from Singapore Treat ringgit as spending money, not an investment Many online reactions stressed that the ringgit should be viewed as a convenience for spending, not a long-term hedge. 'It depends if you are going to spend it in M'sia. The ringgit generally depreciates against a basket of currencies. The interest rates are deceptively high — that still isn't enough to prop up the ringgit. I have money in both countries, but my M'sian deposits are only for spending in Malaysia, not investments (including hedging). The rest are in SGD and USD. Meanwhile, my M'sian friends invest in SGD instead,' one netizen said. The remark reflects a widely shared sentiment: even Malaysians often look outward to the Singapore dollar as a safer store of value. For Singaporeans, that reinforces the idea that holding large ringgit balances is more about easing weekend expenses than actually building wealth. Banking hurdles for foreigners Others pointed out that opening a bank account in Malaysia is not as straightforward as it sounds. 'Not as easy to open a Malaysian bank account if you're a foreigner post the 1mdb saga. Couple of conditions to satisfy from having a job to serving a housing loan. Best to check with the banks. I wouldn't go through the hassle to hedge,' a Facebook commenter said. See also It's June! Best time to hit the beach in Johor Bahru! The analysis here is sobering: the perceived 3% interest rate that might entice Singaporeans is largely out of reach unless one has the right residency or employment status. The banking restrictions act as a natural barrier, which means hedging strategies that rely on Malaysian deposits are impractical for the average JB weekender. The risk of holding too much cash A few users also warned against hoarding physical notes. 'Hope you're not buying via physical notes, I have a stack of ringgit from 80s that local money changer that refuse to take in. I have to go to Maybank in Malaysia to exchange…. This will never happen to SG currency… So I never think to hedge such [an] unstable currency unless you have huge business dealings using their currency,' one netizen shared. Their story highlights a hidden risk: Currency redesigns and policy changes can make old notes less liquid. For Singaporeans used to the Singapore dollar's stability, the idea of notes becoming unexchangeable at money changers can be bothersome. It highlights the reality that large ringgit stashes aren't just vulnerable to exchange rates, but also to the currency's weaker credibility over time. So, should you hedge in ringgit? For Singaporeans who cross into JB weekly, keeping a good sum of ringgit can provide convenience and certainty. It smooths out the volatility of daily exchange rates and saves the hassle of multiple trips to the money changer, but the consensus from online reactions is clear: treat ringgit holdings as a way to pre-pay for your future consumption, not as an investment. Those who try to turn this into a profit-making strategy may be overlooking two realities: that the ringgit has historically lost ground against the Singapore dollar and that Malaysia's tighter banking rules make it difficult for foreigners to truly benefit from higher interest rates. Add to this the risk of holding too much physical cash, and the idea of 'hedging' starts to look less like a smart investment play and more like a lifestyle convenience. Ultimately, the safer long-term bet is still to keep savings in stronger currencies such as the Singapore dollar or US dollar, while using the ringgit simply as a practical tool for weekends across the Causeway. Read also: Ringgit edges higher as US dollar weakens, buoyed by steady domestic demand

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store