Christmas has come early for the bank’s shareholders with the decision to slightly increase the 2024 dividend – despite a single-digit decline in the net profit and cash earnings.
Beating the market benchmark is never easy, with 72 per cent of Australian actively managed global equity general funds trailing the S&P World Index in the six months to June 30, 2024. Domestic equity funds performed slightly better, albeit against a significantly lower bar set by the S&P/ASX 200 Index.
How to cash in on being a senior traveller in the Lion City
Although Asia was my home for 15 years, Singapore, aside from being a convenient travel hub, was one place I never visited. That has now been rectified, resulting in this reflection from a couple of senior travellers on how to make the best of your retiree status when visiting Singapore.
We recently spent just over a week in the Lion City, flying from a cold and miserable Melbourne to the welcoming warmth of the tropical north. We stayed at the Pan Pacific Orchard, which had been recommended by an old and trusted Hong Kong friend.
There are 100s of such hotels in Singapore, so just check your favourite sites for a location and amenities that suit your budget. It’s an expensive city given the strength of the Singapore dollar ($S1 = $A1.10).
Speaking of the dollar, our first tip is to get a travel money card from a bank before leaving. It’s one of the best things we did, though my partner Linda should get the credit for organising it.
Simply open the account and, in the period up to the trip, keep a keen eye on how the Australian dollar is performing. When it’s relatively high, transfer your estimated amount of spending dollars into Singapore dollars.
This will save significant money when overseas compared with using credit/debit cards and possibly having to use commercial currency conversion services in airports or in Singapore.
The benefits don’t end there. To our delight, we discovered that we could use the card on the excellent public transport system. We explored Singapore by bus and underground train (MRT), although we preferred the former as you get a more interesting travel experience. It’s dead cheap too.
In addition, it means avoiding the purchase of a Singapore tourist pass that has a three-day limit. Remember too, if you’re travelling as a couple, make sure that the bank issues two cards for the account, so that each of you can swipe on and off as you move around.
Here’s the second big tip. Don’t forget your senior’s card. Yes, we surprisingly found that the card is accepted in some venues in Singapore. For example, when visiting the marvellous Botanical Gardens, we decided to enter the enchanting National Orchid Garden, for which the entrance fee is $S15. We politely proffered our senior’s cards and were granted entry for $S3. Similarly, at the National Museum, our tickets were discounted from S$15 to S$7, if my memory serves me correctly.
We also checked out some of Singapore’s favourite places such as Gardens by the Bay and Clarke Quay (restaurants and a harbour cruise). A fun meal can be had at Satay Street at the Lau Pa Sat hawker centre.
A note on that famous tourist icon Raffles. We decided not to do the afternoon tea in the grand lobby, opting for a Singapore sling at the legendary Long Bar. Big mistake. Even though we went early (5pm) we had to wait in a line, finally ushered into a traditional looking bar (not very long, by the way), to sit with a crowd of tourists shelling peanuts the monkeys rejected (Linda’s quip) and sipping over-priced drinks. It felt like a tourist trap.
On a happier Raffles note, we enjoyed a delightful coffee break one morning in their Singapore café. Uncrowded, pleasant ambience, fine coffee, excellent cakes and friendly, helpful staff – blissful.
If you insist on trying a Singapore sling – this famous drink, combining gin, Grand Marnier, cherry liqueur, herbal liqueur (often Benedictine), pineapple, lime, bitters and club soda was first created in 1915 by Raffles bartender Ngiam Tong Boon – go to the Marina Bay Sands Hotel (pictured).
There, instead of just buying a ticket to visit the viewing platform on the roof, get a ticket to the Skyline Bar – not only does the fee pay for the views from the top, but it also includes drinks and snacks at the bar. So, you can sip your Singapore Sling while gazing at the amazing views. Enjoy!
