Mr Lee Kuan Yew features on SG50 gold note
Commemorative set comprises one $50 and 5 $10 notes; they will be available from tomorrow at banks
By Melissa Lin, The Straits Times, 19 Aug 2015
A set of six commemorative $50 and $10 notes with designs depicting significant milestones and achievements in Singapore's history was launched yesterday.
The set, issued by the Monetary Authority of Singapore (MAS) to mark Singapore's 50th birthday, comprises one $50 note and five $10 polymer notes, and will be available at banks from tomorrow (20 Aug).
This Golden Jubilee year is "a time to reflect on our shared history and sacrifices of our pioneers, to reflect on the values that brought us here and to pledge to preserve and uphold these values", said Prime Minister Lee Hsien Loong at the launch of the set of notes at the MAS building in Shenton Way.
The gold $50 note has a transparent panel showing the late Mr Lee Kuan Yew, Singapore's first Prime Minister, with a raised fist, leading the crowd with a rallying cry of "Merdeka!", which means independence in Malay. The event marked the achievement of self-government by Singapore in 1959, and was a major milestone to independence in 1965.
The back of the note features the first National Day Parade on Aug 9, 1966, and the latest new town of Punggol. The note's gold colour reflects the country's Golden Jubilee, MAS said.
The five $10 notes have a common front design and varying back designs reflecting values and aspirations such as multiracialism, meritocracy, peace and stability, strong families and active citizenry.
Like the current series of notes, all the SG50 bills feature a portrait of Singapore's first President Yusof Ishak on the front. But the new notes have security features that are the first of their kind to be used on a currency note, said MAS.
For example, the $50 note has a security stripe featuring the numbers "1965" that switch to "2015" when held at a different angle.
Commemorative set comprises one $50 and 5 $10 notes; they will be available from tomorrow at banks
By Melissa Lin, The Straits Times, 19 Aug 2015
A set of six commemorative $50 and $10 notes with designs depicting significant milestones and achievements in Singapore's history was launched yesterday.
The set, issued by the Monetary Authority of Singapore (MAS) to mark Singapore's 50th birthday, comprises one $50 note and five $10 polymer notes, and will be available at banks from tomorrow (20 Aug).
This Golden Jubilee year is "a time to reflect on our shared history and sacrifices of our pioneers, to reflect on the values that brought us here and to pledge to preserve and uphold these values", said Prime Minister Lee Hsien Loong at the launch of the set of notes at the MAS building in Shenton Way.
The gold $50 note has a transparent panel showing the late Mr Lee Kuan Yew, Singapore's first Prime Minister, with a raised fist, leading the crowd with a rallying cry of "Merdeka!", which means independence in Malay. The event marked the achievement of self-government by Singapore in 1959, and was a major milestone to independence in 1965.
The back of the note features the first National Day Parade on Aug 9, 1966, and the latest new town of Punggol. The note's gold colour reflects the country's Golden Jubilee, MAS said.
The five $10 notes have a common front design and varying back designs reflecting values and aspirations such as multiracialism, meritocracy, peace and stability, strong families and active citizenry.
Like the current series of notes, all the SG50 bills feature a portrait of Singapore's first President Yusof Ishak on the front. But the new notes have security features that are the first of their kind to be used on a currency note, said MAS.
For example, the $50 note has a security stripe featuring the numbers "1965" that switch to "2015" when held at a different angle.
The notes were designed by four local artists and designers - Mr Chua Mia Tee, Mr Eng Siak Loy, Mr Weng Ziyan and Mr Fabian Lim.
The public can get the commemorative notes at the branches of nine major retail banks from tomorrow by exchanging them at face value.
The public can get the commemorative notes at the branches of nine major retail banks from tomorrow by exchanging them at face value.
Each individual will be limited to a quota of five sets of notes. Singaporeans will be given priority to exchange the notes from tomorrow to the end of next month. They will have to present their identification card at the bank as proof of citizenship.
The notes will be available to non-Singaporeans from Oct 1.
Dr Andrew Khoo, deputy managing director of corporate development at MAS, said: "There will be enough SG50 notes available for exchange. There is no need to rush."
A total of 20 million pieces of $50 notes and 75 million pieces of $10 notes - 15 million pieces of each design - will be printed, he said.
The notes complete the set of currencies issued by MAS to mark SG50, which include a set of three commemorative coins that were launched in April.
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Long queues for SG50 commemorative notes
By Danson Cheong, The Straits Times, 21 Aug 2015
Mrs Fiona Quek's first stop on her shopping trip was the DBS Bank branch in Bishan's Junction 8 mall.
But when she realised the waiting time to exchange currency notes for the new commemorative SG50 ones was six hours long, she made a beeline for the banks at Toa Payoh Central instead.
"I decided to come here to try my luck; there are so many banks here - UOB, Maybank, OCBC - I thought the queues would be shorter," said Mrs Quek, who works in finance.
By Danson Cheong, The Straits Times, 21 Aug 2015
Mrs Fiona Quek's first stop on her shopping trip was the DBS Bank branch in Bishan's Junction 8 mall.
But when she realised the waiting time to exchange currency notes for the new commemorative SG50 ones was six hours long, she made a beeline for the banks at Toa Payoh Central instead.
"I decided to come here to try my luck; there are so many banks here - UOB, Maybank, OCBC - I thought the queues would be shorter," said Mrs Quek, who works in finance.
The 45-year-old was among the retirees, housewives, students and professionals who flocked to banks yesterday to get their hands on the limited-edition currency notes.
Their enthusiasm was not marred by the long queues at various outlets, or the presence of typos - the name of Yusof Ishak, Singapore's first president, was misspelt on the notes' packaging and enclosed booklet.
Their enthusiasm was not marred by the long queues at various outlets, or the presence of typos - the name of Yusof Ishak, Singapore's first president, was misspelt on the notes' packaging and enclosed booklet.
A set of the SG50 commemorative notes comprises one $50 note and five $10 polymer notes of different designs. Each person is entitled to exchange five sets. The Monetary Authority of Singapore is printing 20 million $50 notes and 75 million $10 notes - 15 million of each design.
These were launched on Tuesday by Prime Minister Lee Hsien Loong and feature unique designs, including the first National Day Parade in 1966.
Singaporeans are given priority to exchange the notes from yesterday to Sept 30. They will be available to non-Singaporeans from Oct 1.
Many banks, including DBS and United Overseas Bank (UOB), have extended banking hours to cater to the crowd in the days ahead.
Many Singaporeans waiting in line yesterday wanted to pass on the notes to the younger generation - in the hope that they would remember these historic milestones.
"I'm getting five sets, but some I will give away to my daughter and niece," said retiree Foo Han Keow, 72, who was at the POSB branch at Toa Payoh's HDB Hub at 9.15am.
The more than 150 people waiting in line there were given queue numbers and told to come back.
Retiree Alice Liew, 60, waited there for more than three hours, hoping to change $500 - the maximum allowed. She said: "I want to get it as a keepsake. I don't mind the queue; I was expecting to wait. This is only once in 50 years."
MAS 'sorry' for typo on SG50 notes set packaging
By Pearl Lee and Danson Cheong, The Straits Times, 21 Aug 2015
The Monetary Authority of Singapore (MAS) made an error in the newly launched SG50 commemorative notes sets by misspelling the name of Singapore's first President, Mr Yusof Ishak, on the packaging.
It is spelt on the cover fold and enclosed booklet as "Yusok Ishak".
A blurb explaining the design of the special $50 note reads: "The front design features Mr Yusok Ishak, our first President".
By Pearl Lee and Danson Cheong, The Straits Times, 21 Aug 2015
It is spelt on the cover fold and enclosed booklet as "Yusok Ishak".
A blurb explaining the design of the special $50 note reads: "The front design features Mr Yusok Ishak, our first President".
The late President's portrait is on both the $50 and $10 commemorative notes.
The notes, which were launched yesterday, do not contain errors.
Mr Ravi Menon, managing director of MAS, which issued the sets, said last night he took full responsibility for the spelling mistake.
"This should never have happened, (it) is not acceptable, and I take full responsibility. I apologise on behalf of my colleagues who worked hard to prepare the notes and folders but are deeply disappointed that we made this most unfortunate mistake. We will put this right," he said.
A spokesman for the MAS said it is now printing stickers to replace the misspelt part of Mr Yusof Ishak's name. They will be affixed to the folders from Tuesday.
A spokesman for the MAS said it is now printing stickers to replace the misspelt part of Mr Yusof Ishak's name. They will be affixed to the folders from Tuesday.
Those who have already exchanged their old notes for the new ones may also obtain the same stickers for their folders from nine banks, including DBS Bank/POSB, Oversea-Chinese Banking Corporation and United Overseas Bank.
But Mr Jason Teng, 37, who obtained 15 sets yesterday, was not bothered by the error.
"I wouldn't have noticed it if it wasn't pointed out to me. I care more about the note than the packaging," said the jeweller.
He added candidly: "The error might even turn the commemorative set into an even more rare collector's item."
He added candidly: "The error might even turn the commemorative set into an even more rare collector's item."
MAS to print new folders for SG50 notes
By Melissa Lin, The Straits Times, 22 Aug 2015
The Monetary Authority of Singapore (MAS) will be printing new folders for the SG50 commemorative note set to correct a typo on them, instead of just pasting stickers over the error.
The sets launched on Thursday had misspelt the name of Singapore's first president, Mr Yusof Ishak, on the packaging. It is spelt on the cover fold and enclosed booklet as "Yusok Ishak".
MAS had said earlier that it will paste stickers over the misspelt part of the name. But yesterday, it announced that the folders will be reprinted instead.
By Melissa Lin, The Straits Times, 22 Aug 2015
The Monetary Authority of Singapore (MAS) will be printing new folders for the SG50 commemorative note set to correct a typo on them, instead of just pasting stickers over the error.
The sets launched on Thursday had misspelt the name of Singapore's first president, Mr Yusof Ishak, on the packaging. It is spelt on the cover fold and enclosed booklet as "Yusok Ishak".
MAS had said earlier that it will paste stickers over the misspelt part of the name. But yesterday, it announced that the folders will be reprinted instead.
Banks will issue the current folders bearing the typos - stickers will be affixed from next Tuesday - until the new ones are ready at a yet-to-be-announced date. Singaporeans who wish to exchange the folders for the new ones can do so, said an MAS spokesman.
MAS will also replenish the current stock of notes, which are being taken up "much faster than expected". Said the MAS spokesman: "There will be enough SG50 notes for all Singaporeans... There is no need to rush."
Each set comes with one gold $50 note and five $10 notes. A total of 20 million pieces of $50 notes and 75 million pieces of $10 notes will be printed. Singaporeans can exchange for the notes until the end of next month.
"We have also received feedback from the banks that there are customers who queue repeatedly to get more than the stipulated two folders. We would like to appeal to the public to refrain from doing so, in fairness to others," the spokesman added. Each individual is limited to five sets of notes each time.
There were long queues for the notes again yesterday. Some got the bills in plastic bags after some bank branches ran out of folders.
After a two-hour wait at a DBS branch in Bedok, client service analyst Richard Tang, 39, got his hands on five sets of notes at 12.30pm.
"At about 11.15am, the staff said there were no more folders. Half the people waiting left," he said.
"I waited because I like the photo of Mr Lee Kuan Yew raising his fist (on the $50 note)."
"At about 11.15am, the staff said there were no more folders. Half the people waiting left," he said.
"I waited because I like the photo of Mr Lee Kuan Yew raising his fist (on the $50 note)."
MAS to print 6 million new folders for SG50 commemorative notes
MAS says two folders will be available for every Singaporean household from the middle of November this year.
Channel NewsAsia, 3 Sep 2015
An additional six million folders will be printed to meet "overwhelming demand" from Singaporeans for both the SG50 commemorative notes and folders, the Monetary Authority of Singapore announced in a press release on Thursday (Sep 3).
MAS said two folders will be available for every Singaporean household from the middle of November this year. They will be able to get the folders without having to obtain the SG50 notes at the banks.
Folders will continue to be available at banks for those who exchange the required number of notes, MAS added.
MAS says two folders will be available for every Singaporean household from the middle of November this year.
Channel NewsAsia, 3 Sep 2015
An additional six million folders will be printed to meet "overwhelming demand" from Singaporeans for both the SG50 commemorative notes and folders, the Monetary Authority of Singapore announced in a press release on Thursday (Sep 3).
MAS said two folders will be available for every Singaporean household from the middle of November this year. They will be able to get the folders without having to obtain the SG50 notes at the banks.
Folders will continue to be available at banks for those who exchange the required number of notes, MAS added.
MAS also emphasised that Singaporeans need not wait for the new folders in November to exchange for the SG50 commemorative notes, and they can continue to make their exchange and enjoy priority for the notes at participating banks until Sep 30, 2015.
“There is enough supply of the notes to meet demand from Singaporeans,” MAS said.
Folders will continue to be available at banks, but in limited numbers. Only Singaporeans will be allowed to obtain the folders when they exchange the commemorative notes at the banks, while the maximum number of folders remains at two per transaction, MAS said.
This comes after typographical errors were discovered on the folders for the SG50 commemorative notes. The name of Singapore’s first President Yusof Ishak was misspelt as “Yusok Ishak” on a foldout portion of the packaging, as well as in an enclosed booklet. MAS Managing Director Ravi Menon had said he takes full responsibility for the mistake.
This comes after typographical errors were discovered on the folders for the SG50 commemorative notes. The name of Singapore’s first President Yusof Ishak was misspelt as “Yusok Ishak” on a foldout portion of the packaging, as well as in an enclosed booklet. MAS Managing Director Ravi Menon had said he takes full responsibility for the mistake.
* New SG50 note folders available to every Singaporean household from Nov 11: MAS
The Straits Times, 30 Sep 2015
Two SG50 note folders will be made available to every Singaporean household from Nov 11 to 30, to meet the strong demand from Singaporeans, the Monetary Authority of Singapore (MAS) announced on Wednesday (Sept 30).
The folders can be collected, without charge, at any of the 108 Community Centres and Community Clubs (CCs) islandwide. Further details will be announced in late October.
Those who already have the original set of folders - which contained a typographical error in the first President Yusof Ishak's name in the description of the $50 commemorative note - and wish to exchange them for the new ones may also do so at the CCs, MAS said.
This will be in addition to the two folders that each Singaporean household can collect.
The Straits Times, 30 Sep 2015
Two SG50 note folders will be made available to every Singaporean household from Nov 11 to 30, to meet the strong demand from Singaporeans, the Monetary Authority of Singapore (MAS) announced on Wednesday (Sept 30).
The folders can be collected, without charge, at any of the 108 Community Centres and Community Clubs (CCs) islandwide. Further details will be announced in late October.
Those who already have the original set of folders - which contained a typographical error in the first President Yusof Ishak's name in the description of the $50 commemorative note - and wish to exchange them for the new ones may also do so at the CCs, MAS said.
This will be in addition to the two folders that each Singaporean household can collect.
Futhermore, Singaporeans can obtain the new SG50 note folders at the participating banks in late November when they exchange for the SG50 commemorative notes.
The original folders will in the meantime remain available at the banks. The maximum number of folders available at the banks remains at two per transaction.
The MAS appealed to the public to refrain from queuing repeatedly to get more than the stipulated two folders.
From Oct 1, non-Singaporeans will be able to exchange for the SG50 commemorative notes at the banks.
The quota of five sets of notes (each set comprising a $50 note and five $10 notes) per transaction per individual will apply.
However, only Singaporeans will be allowed to obtain the folders when they exchange for the SG50 commemorative notes at the banks.
Those interested in purchasing the note folders can get details at the vendor's website at www.sg50gifts.com.
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