Daily Briefing: Higher wealth taxes on the cards for Singapore?; RM at historical low against SGD

And prejudice in Singapore is the same as 5 years ago.

• In rich Singapore, higher taxes on cars, property and possibly personal income could be on the agenda in next month's budget as the city state takes steps towards a greater redistribution of wealth. Read more here.
• The ringgit slumped to its historical low against the Singapore dollar to close at 2.6214 yesterday, declining further from last Friday’s close of 2.6066. Experts are speculating that the local currency will continue to weaken for at least another two to three months before recovering. Find out more here.
• Most people in Singapore believe that the level of prejudice in Singapore – whether against race, religion, language, gender, age or nationality – has largely stayed the same in the past five years. Know more here.