Latest news with #TISG
Independent Singapore
01-05-2025
- Business
- Independent Singapore
Asia to lead in financial accessibility by 2030, surpassing global average
Photo: Freepik/pressfoto(for illustration purposes only) ASIA: Asia is set to be a global leader in financial accessibility by 2030, according to analysts at fintech group UnaFinancial. Analysts from the fintech group expect financial inclusion to improve from 2025 to 2030 in the region, estimating financial accessibility to reach 80.2%, surpassing the global average of 76.8%. The figures are based on the group's financial accessibility index, which uses available historical data from the Global Financial Inclusion (Global Findex) Database. The index looks at how many people own accounts at financial institutions, use digital payments, have debit or credit cards, and borrow or save money. Each of these was given a weight, depending on how much it affects access to finance. In 2023, financial inclusion in Asia was 67.2%. It was expected to go up to 69.5% in 2024. Over the last 15 years, the number has grown by 82%, surpassing the global average of 67.4%. Analysts said that while Asia lagged behind other regions between 2010 and 2015 and matched global levels from 2016 to 2022, it has since taken the lead. 'This trend is driven by active digital transformation and improvements in the regulatory environment, which have allowed for the expansion of financial services even in remote areas,' analysts noted. 'The combination of technological innovation, educational initiatives, the expansion of digital infrastructure and the development of alternative lending creates a solid foundation for further improvement of financial inclusion in Asia,' they added. /TISG Read also: 5 Things to expect in Singapore's banking and financial services in 2025 Featured image by Depositphotos (for illustration purposes only)
Independent Singapore
25-04-2025
- Politics
- Independent Singapore
Kf Seetoh: If you let ‘sweet promises determine your life in next 5 years, you may get just desserts'
SINGAPORE: Singapore's very own food guru, who is as outspoken on social media as he is in real life, weighed in on this year's General Election, which will be held on May 3. Rather than focus on the 'sweet' promises candidates will make in the days of the campaign, Kf Seetoh urged Singaporeans to see whether they have, or would, address 'daily common man interests.' Kf Seetoh joked in an Apr 25 (Friday) Facebook post that he heard so many promises from candidates the day before that he 'got struck down with diabetes yesterday' as his blood sugar shot through the roof. 'The deluge of sweet rhetoric from the political candidates assailed my ears and into the system. All the air punching and cloud nine pointing… Oh man!!,' he wrote but warned that if people let the 'next 7 to 8 days of hustings with the sweet promises determine what your life will be the next 5 years, well, you may get (your) just desserts.' On a more serious note, the Makansutra founder advised that it would be better to instead ignore the next seven to eight days of campaigns and choose instead to see what they've done as professionals or, simply as human beings or, when applicable, during their terms as incumbents. 'Google them,' he enjoined readers. Although he did not name names, Mr Seetoh pointed out that an opposition Member of Parliament raised a full motion on the issues that hawkers face, while another 'created a coup in the region by getting Bruno Mars, Taylor Swift, Lady Gaga' to perform in Singapore, to the dismay of other Southeast Asian countries. Others, meanwhile, from the ruling and opposition parties, have advocated for sports, education, healthcare, and other issues. He went on to zero in on what he believes is important to determine in selecting whom to vote for. 'But are your daily common man interests and concerns and small business needs, addressed? Did they deliver on what you needed and deserve? Did they act on what you don't even know you needed? I know they're gonna make a lot of promises. Just like at the last elections. I am still waiting for one particular MP to make good on his promise to address manpower and rising cost concerns of the F&B and retail sectors.' He asked voters not to 'look at beautiful portraits and online portrayals' but to 'look into their hearts and minds and past deeds, judge them, then go make the best decision for your next five years. ' Mr Seetoh added that a reminder that no politician is perfect but appears to find it a reasonable request for them to 'strive to be better' and make tomorrow 'a little better than today. This world today is very fragile cos of you know who and why. Vote wisely, folks.' /TISG Read also: KF Seetoh: Why can't the government give a discount or lower HDB prices for those deserving first-time buyers?
Independent Singapore
24-04-2025
- Independent Singapore
'Why Indonesia?': Singaporean couple share 5 reasons why they moved after their HDB MOP
SINGAPORE: A Singaporean couple who love to travel recently shared why they moved to Indonesia after meeting the Minimum Occupation Period (MOP) of their Housing & Development Board (HDB) flat. On Instagram, they wrote, 'People often ask us, 'Huh? Why Indonesia?′ We can choose Australia or Canada, but wouldn't it be the same situation [as] Singapore?' Since September 2023, they've been travelling almost every month. They realised it didn't make sense to own a car in Singapore that they rarely used or hold on to a flat they hardly stayed in. So they made Indonesia their 'base', sharing five reasons why. 1. Slower pace of life and lower cost of living The couple said living in Indonesia gave them space to slow down and focus on themselves without the constant rush. 'We can go into our batcave mode to work on ourselves and not have distractions,' they shared. 2. Same experiences, but at half the cost Comparing the dining experience between the two countries, they pointed out that a date at Sky @57, by well-known chef Justin Quek, a restaurant once located on the 57th storey of Marina Bay Sands, used to cost over S$500 for two people. In Indonesia, they could have a similar meal for S$200—and for four people. 3. Affordable pet sitters instead of pet hotels When living in Singapore, their 'antisocial' cat Aurelia found pet hotels stressful, and they often relied on friends or family to care for her during long trips. In Indonesia, they now have someone who looks after her at home. 'Our cat has a personal butler,' they said—something they said 'wouldn't be possible' if they chose to be in Australia or Canada. 4. A condo with three bedrooms at 20% the price of an HDB flat While they admitted it's not always easy for foreigners to find housing in Indonesia, it was still more affordable than in other countries. They rented a three-bedroom condo at just 20% of the cost of a similar HDB flat in Singapore. They noted that even in Melbourne, rent for a house 40 minutes from the city was around S$2,500 per month. 5. A helper at S$250 per month The couple now employ a full-time helper who cooks, does the groceries, and cares for both their home and cat—for just S$250 a month. 'We can travel at ease, work on our businesses, and have more time to sleep and do yoga,' they said. As a bonus, they use the rental income from their Singapore HDB flat to support their travelling lifestyle. 'If we make Indonesia our so-called base, it would be more cost-effective compared with places like Singapore, Canada, or Australia,' they added. /TISG Read also: 'You just have to count on yourself': Is this also true for Singaporeans who rely on the traditional retirement model of CPF, personal savings and gratuity? Featured image by Depositphotos (for illustration purposes only)
Forbes
07-04-2025
- Business
- Forbes
Kitson Sells $2 Billion New Build And Brokerage Yachts In 4 Years
They're young. They're driven. And they're focused. Kitson Yachts was founded in 2021, just four years ago, but they're already ranked second among U.S. yacht brokerage firms in number of yachts over 164 feet sold between 2022 and 2024. They've sold half of all preowned Feadships that have come to market, 2015 or newer, since 2021. Kitson's sales made up 8 percent of the total number of yachts over 230 feet sold to U.S. clients between 2022 and 2024. There's more. Two of the three co-founders, Michael Tabor and Brandon Kummer, made five sales totaling over 240 feet in less than two years. Brandon was the first broker younger than 32 to sell three Feadships. Feadship Royal Dutch Shipyards is one of the leading superyacht shipbuilders. Kitson's average yacht charter transaction size is $1.3 million, with an average charter boat length of 228 feet. Their average sale transaction features yachts over 164 feet. In late February, Kitson announced the successful sale of the under-construction, 240-foot Admiral Yacht Project Il Primo, acting as the seller's representative. Adding to the strong resume for this young firm, Kitson recently signed a partnership with TISG, The Italian Sea Group, as the authorized sales agency for North, South, and Central America. TISG is the parent company for Admiral, Tecnomar, Perini Navi, Picchiotti, NCA Refit, and Celi yacht brands. TISG delivered more than $440 million in revenues for 2024 and has more than 700 employees working on seven European production sites. Kitson commented, 'Kitson Yachts is thrilled to partner with the largest shipbuilder in Italy, The Italian Sea Group. We look forward to elevating the presence of TISG craftsmanship across the vast geography of the Americas,' aligned with Giovanni Costantino's accord, "I am sure that Kitson Yachts will be the perfect ambassador for TISG in a free market.' Kitson also recently unveiled ultra-posh new digs in Miami's Sunset Harbour neighborhood, making it an inviting space for clients to embrace the yachting pursuits of their family business. Needless to say, with a growing list of billionaires in North America and the fact that Americans make up about 45 percent of the superyacht industry, they are busy. Tabor comes from an investment banking and shipbuilding background. Kummer, Tabor says, is a yacht broker through and through. Their business model approaches these large transactions in an institutional, business-like way, working hard to understand what makes each client tick. Approaching clients in a concierge, family office philosophy, they earn trust and build confidence as they educate an already very astute client list. Kitson makes the programs work for their clients, rather than making the programs work for the industry. Tabor refers to it as unwriting the rules. Kummer adds that the industry status quo for new yacht brokers expects them to take progressive steps leading up to the sales of bigger, more prestigious yachts. Kitson ignored the learning curve and went right to the top, calling Feadship with a client early on, saying, 'Let's do this!' That one sale turned into three, and their trajectory has gone nowhere but up. These guys get it. A sale is not always about price. The superyacht industry is pushing its own limits in terms of amenities, technology, and absolute luxury, and those shiny new details are often attractive to buyers. Kitson helps clients sort through the details to build the yacht they want, which is often quite different from the yacht clients thought they wanted earlier in the buying process. Tabor and Kummer spend many all-nighters analyzing and comparing vessels, ideas, designers, and shipyards. They often end up building something very different from what was discussed in early conversations. Tabor adds that their job is to help clients through the process safely, with consistency, while having fun throughout the process. The easiest part of it all is to buy the boat. The work that goes into taking a client from 'I want a yacht,' through the entire process, to delivery and beyond. Tabor explains that their approach gets them thinking three to five years out, having those hard discussions with the client and solving problems through discussions that shape the brief. Some of the realities explored in those discussions are awkward. Elephants in the room, if you will. Kummer adds, 'Addressing that head-on is where you create the bond with the client.' He also noted that's what they love about the yachting business. One minute they are challenged by new construction, acting as technical surveyors, and the next minute they may be fulfilling the role of a therapist, working to understand the nuances of client behavior. If they have a 5-minute elevator pitch, they delivered it to Feadship. The conversation went something like, 'Let's not overcomplicate this. Let's go build you a yacht. We'll put the right team in place. We'll have your best interests at heart, but we're going to make it really fun, pain-free, and not stressful.' Working with Admiral Yachts, Kitson announced the 288-foot Project Spyder, scheduled for delivery in 2027. Working closely with the owner, Kitson developed a brief, then began their process, selecting TISG for its 3D technology and integrated digital platforms, Espen Øino for his exceptional, sleek exteriors, and FM Architettura for their chic interior design perspective. What's different about Spyder? Amid the gracious indoor spaces and expansive outdoor lures, Spyder welcomes 18 guests in nine staterooms. The owner's bridge deck suite features a circular private deck with great views. An upper deck and a forward-facing observation lounge, a 10 by 30-foot pool overlooking a 1,000 square foot expandable beach club, and an exterior silhouette, all designed around the owner's desire to bring several generations of family together for memorable journeys. In the end, Tabor concludes, 'It's all about taking really, really good care of our clients.' Kummer adds, 'Your reputation is everything.' All of the pieces of creating a custom superyacht come together on the day that puts owners on board for their first voyage on the superyacht of their dreams. Kummer admits that some owners are so overcome by emotion that it prompts a teardrop or two as they realize the sheer number of workers it has taken to build this precious new addition to their family. Kummer notes, 'It's the best reward ever because you're sharing that moment with some of the more powerful people in the entire world … it's just raw emotion. It's pretty special.'
