• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

In the year 2007 18,000 Indonesian Millionaires Lives In Singapore

jubilee1919

Alfrescian (InfP)
Generous Asset
Rich Indonesians Snap Up Singaporean Flats

Contributed by Our Correspondent
Wednesday, 18 April 2012

http://www.asiasentinel.com/index2.php?option=com_content&do_pdf=1&id=4430

Extract

A safe haven in case there’s trouble, either from ethnic strife – or the law

Driven by uncertainty over potential racial violence, and lured by opaque banking laws to keep out prying eyes, Singapore remains the favorite bolt-hole for Indonesia’s rich, who are buying up expensive new flats about as fast as they come onto the market.

Thomas Tan, director for residential marketing at Raffles Quay Asset Management, told local reporters earlier this week that 30 percent of the units that went on sale for the new 221 units of the 66-story Marina Bay Suites went to Indonesians. Of the 155-odd units sold so far, about half have been sold to foreigners including Malaysians and Mainland Chinese, although Indonesians represent the biggest percentage.

Indonesia “is one of our key markets, and we continue to see strong demand,” Tan told local media in Jakarta. In 2011, Indonesians bought 1,714 properties in Singapore, averaging between US$1 million and US$5 million
in price. In total, Indonesians were estimated to have spent US$165 million on Singaporean property in 2011.

Singapore has always been a port in a storm for Indonesian tycoons and lesser satraps a step ahead of the law or sporadic ethnic hostility, usually directed at ethnic Chinese. There are estimated to be about 70,000 US dollar millionaires living in Singapore, with rich Indonesians comprising a significant share of them.

As long ago as 2007, 18,000 Indonesians described as “rich” were living in the Lion City, worth a combined total of US$87 billion – more than Indonesia’s entire annual government budget. At the time it included 200 debtors who owed money to the state and who had been hiding there since the Asian Financial Crisis of 1998.

Among them were crooked Indonesian bankers who plundered more than US$13.5 billion from the Indonesian central bank's recapitalization funds to try to put 48 ailing banks back together and fled for the island republic. They moved most of the money across the strait, where Singapore’s banking laws are among the world’s most impregnable.
Indonesia has made half-hearted attempts to get the bankers and the money back, to no avail.

http://www.thejakartaglobe.com/news/kpk-urges-ratification-of-singapore-extradition-pact/367783

Extract

According to a report by Merrill Lynch and Capgemini in 2006, there were about 18,000 Indonesian millionaires living in Singapore with a total of $87 billion in wealth.
 

Narong Wongwan

Alfrescian (Inf)
Asset
Indonesians especially the well to do ethnic Chinese have lived among us for decades....back then many of us would have Indonesians as classmates in school.
 

GoldenDragon

Alfrescian (Inf)
Asset
Indonesians especially the well to do ethnic Chinese have lived among us for decades....back then many of us would have Indonesians as classmates in school.

Yes, they were already here in the late 60s. I recall a classmate with the suurname Tjie. Came to school driven in a Jaguar by a driver attired in white safari jacket. Stayed near Shangri-la.
 

jubilee1919

Alfrescian (InfP)
Generous Asset
I have no doubt that in 2012 there are now 36,000 Indonesian millionaires in our midst!
 

halsey02

Alfrescian (Inf)
Asset
Yes, they were already here in the late 60s. I recall a classmate with the suurname Tjie. Came to school driven in a Jaguar by a driver attired in white safari jacket. Stayed near Shangri-la.

Many from East Malaysia , especially from the Timber Merchants children of Chinese descents, many of their children attended schoosl from Primary to Pre-U & I think even U. But many came here, finish their schooling in Britain, Australia or Canada. I have a few East Malaysian classmate, & some stayed with my neighbors whose Aunties or Uncles were SINgaporeans.

They were paying foreign student rates.. renting rooms or some the parents rented the entire terrace house for them.
 
Last edited:

johnny333

Alfrescian (Inf)
Asset
Yes, they were already here in the late 60s. I recall a classmate with the suurname Tjie. Came to school driven in a Jaguar by a driver attired in white safari jacket. Stayed near Shangri-la.

Had a classmate who was some kind of prince. I think somewhere in Java:confused: Also had a classmate who's father worked at Pertamina.
Back then I was just a simple school boy:o No one taught me about networking :(
 

halsey02

Alfrescian (Inf)
Asset
Had a classmate who was some kind of prince. I think somewhere in Java:confused: Also had a classmate who's father worked at Pertamina.
Back then I was just a simple school boy:o No one taught me about networking :(

We were simple & life was simple, they were just another kid like us, not so sophisticated or complicated like today. Only difference, the darn chap have toys we drool saliva over, or can buy that comics or year book, we would want, or come to school in that car, we wished we could sit it..not that "lau pok kai" jitterybug we use to ride in... hmmm

I have classmates like that, when I go to their house, if their parents are in, I have to dress primp & proper, table manners when eating..etc
 
Last edited:

Narong Wongwan

Alfrescian (Inf)
Asset
Many from East Malaysia , especially from the Timber Merchants children of Chinese descents, many of their children attended schoosl from Primary to Pre-U & I think even U. But many came here, finish their schooling in Britain, Australia or Canada. I have a few East Malaysian classmate, & some stayed with my neighbors whose Aunties or Uncles were SINgaporeans.

They were paying foreign student rates.. renting rooms or some the parents rented the entire terrace house for them.
The guardian system then.....
Had an enterprising uncle who quit his job to be a guardian to these kids....good money.....invested in a mini bus to ferry the kids, took care of food and board.....turned his house like a mini dorm hostel.
 

halsey02

Alfrescian (Inf)
Asset
The guardian system then.....
Had an enterprising uncle who quit his job to be a guardian to these kids....good money.....invested in a mini bus to ferry the kids, took care of food and board.....turned his house like a mini dorm hostel.

Yes! I have a neighbor who did that, & they have their own children growing up with others in the house, we are not talking about HDB flats or condos.
 
Last edited:

johnny333

Alfrescian (Inf)
Asset
We were simple & life was simple, they were just another kid like us, not so sophisticated or complicated like today. Only difference, the darn chap have toys we drool saliva over, or can buy that comics or year book, we would want, or come to school in that car, we wished we could sit it..not that "lau pok kai" jitterybug we use to ride in... hmmm

I have classmates like that, when I go to their house, if their parents are in, I have to dress primp & proper, table manners when eating..etc


Yes, that prince had a nice collection of Playboy magazines which I envied :o
It was only later that I found out where to get my own copies:biggrin:
 

halsey02

Alfrescian (Inf)
Asset
Yes, that prince had a nice collection of Playboy magazines which I envied :o
It was only later that I found out where to get my own copies:biggrin:

shhh! me too know how to get too, when I was at that age...ha ha ha Hustler too & many more...I still have the memory of that place but I can't tell you where, though it is gone already.
 

Cestbon

Alfrescian (Inf)
Asset
People just sour grape other have more wealth than them.
Only KPKB . Work smarter/invest smarter will be rich some day.
No stupid wasting time.
1. What latest movie
2. Latest handphone/q up to buy phone wasting time
3. Where to eat/where best place makan..........
4. Compare other what car they drive/phone they use/handbag...................


Why they dont
1. Think of upgrade knowledge
2. Invest saving in good share/property/fund
3. Become their own boss invent something/promote something .........
 

nato33

Alfrescian
Loyal
The guardian system then.....
Had an enterprising uncle who quit his job to be a guardian to these kids....good money.....invested in a mini bus to ferry the kids, took care of food and board.....turned his house like a mini dorm hostel.

My ex neighbor quit her job as a Secondary School Science teacher to become full time guardian to Indo students in early 1980s. Rode on her reputation as a School Teacher and heard she charged a premium for this "Guardian" service as she also offered tuition and a professional environment. She probably made enough money and bought a unit in Farrer Court.

She was part of the lucky lot that was offered $2M plus during the en bloc so all in all, a great decision to quit her teacher role.

All these foreign millionaires in our midst are the ones driving up costs of cars and general cost of living :-(
 

halsey02

Alfrescian (Inf)
Asset
My ex neighbor quit her job as a Secondary School Science teacher to become full time guardian to Indo students in early 1980s. Rode on her reputation as a School Teacher and heard she charged a premium for this "Guardian" service as she also offered tuition and a professional environment. She probably made enough money and bought a unit in Farrer Court.

She was part of the lucky lot that was offered $2M plus during the en bloc so all in all, a great decision to quit her teacher role.

All these foreign millionaires in our midst are the ones driving up costs of cars and general cost of living :-(

The teachers of old, were very enterprising people, not only they taught & brought up a generation. They were quick to make money, many became successful stockbrokers, successful business people, realty investors & so forth; all from a start being a TEACHER!
 
Last edited:

jubilee1919

Alfrescian (InfP)
Generous Asset
The teachers of old, were very enterprising people, not only they taught & brought up a generation. They were quick to make money, many became successful stockbrokers, successful business people, realty investors & so forth; all from a start being a TEACHER!

I remember one short-assed teacher who became a millionaire minister but failed in guarding one Singapore "terrorist!":biggrin:
 

Narong Wongwan

Alfrescian (Inf)
Asset
The teachers of old, were very enterprising people, not only they taught & brought up a generation. They were quick to make money, many became successful stockbrokers, successful business people, realty investors & so forth; all from a start being a TEACHER!
CST started off as a teacher as well.....
 
Top