The central bank will not allow these “financing” and trading biz.
While I can understand why, their absence means that the banks will continue dominating SME financing, and we get pathetic returns on bank deposits.
http://www.economist.com/blogs/schumpeter/2013/01/lending-club
The Economist has been the Bible of PAP elites since the days of MM Lee,let’s hope that present elites get some badly needed inspiration to do their jobs properly.