I personally like a T-shirt design in Singapore. It’s the “Singapore is a FINE city.” If you think this is a bad thing, you are very wrong. The reason why it’s so clean, so organised and so real is because whatever they do, they take it seriously. If you speed, you are getting a ticket for sure and not many would even want to try flouting the non-smoking zones. The latest one? Stop any “misleading, speculative and cannot be substantiated claims,” This was reported by Channel NewsAsia.
It was from a recommendation from the Advertising Standards Authority of Singapore – an advisory council under the Consumers Association of Singapore (CASE). The reason for this is because they would like to protect Singaporeans who are buying overseas. I think this will continue to increase as the SGD has been strong thus far even if it is depreciating versus the US$. These new guidelines would raise the usual standards of disclosures like warnings and qualifications to ensure a sufficient highlight of potential investment risks. Of course, this applies to ALL external advertisers who are trying to lure Singaporean investors.
It seems that the number of cases are increasing. The Advertising Standards Authority of Singapore received 41 complaints of which the cases were due to advertisements promising high, guaranteed returns and the advertisements lack sufficient warning against risks. The new changes are to compel advertisers to clearly provide information about the development and features of the property, including tax liabilities and potential ownership restrictions. The new guidelines have taken effect since 12 August 2014. A grace period of 3 months are given to media owners and advertisers with contracts signed before the effective date.
I love this new rule. Come on, be real, how many times have we been cheated by these advertisements? One latest case here: Property investment: It’s not always rosy It may not be such a huge case. Sometimes, the developers would advertise the price in huge and bold numbers but did not tell us that even though it’s a condominium, only one car park is given. Some would even put in their advertisements about, ‘Last 4 days.’ Yet, when you happen to view their project one week later, the price was still applicable! My cousin sister got ‘cheated’ this way to place deposit. Anyway, she liked the place, so she was okay. Last but not least, can Malaysia do the same? Enforce the same rules? I certainly hope so because this is definitely a good benchmark where advertisements are concerned. Do note that there are also claims in advertisements in Malaysia from overseas developers too. Some promises sounded so real that it could not be….. Happy buying, carefully.
written on 23 Aug 2015
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