Economic News

jasonjst said:

China man lagi more practical , for RM600 can 包夜 liao leh . Hotel plus free Xmei Mei . Or should be the other way round Xmei Mei plus free hotel ?

Report say China tourist arrive from JB increased but arrived from changi airport drop significantly. If Yaya Papaya still cannot change their attitude and cause 5hrs jam at CIQ , soon China Man will bypass SG all together

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I think with FC coming on line, more tours would package Singapore and JB, with accommodations and luxurious shopping tilting towards FC, thus lowering costs.

RedsYNWA said:

Well, I know exactly what a budget is. I review and approve company budgets.

I am just responding to your assertion that Petronas will run out of cash soon, as it is in a cash flow negative position. This is obviously not true. If "negative cash flow = cashless soon", many GLCs like Keppel O&M, and Sembcorp Marine will be closing shop too, as they are in a similar position.

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For someone claiming that he reviews and approves annual budget and how you reason your argument, sorry to say that my company accounts clerk knows more about accounting than you.

When your annual funds allocation is exhausted before the financial year ends, you are technically "cashless". Petronas will be in same "cashless" position if that happens because profits had fell drastically against their forecast.
You are using a layman's understanding of cashless means dead broke, no more money, pok gai already.
Often we hear certain company lost $X million last financial year, that doesn't means that company is going broke but just means they had spend more than their income. The next thing they need to do for the next budgeting is to "recover" this loss or else they'll be in the red year after year like example MAS (Malaysian Airline System) but the company is still around year after year.
Hope you can improve on you accounting knowledge soon and good luck to your company.

snowbird said:

For someone claiming that he reviews and approves annual budget and how you reason your argument, sorry to say that my company accounts clerk knows more about accounting than you.

When your annual funds allocation is exhausted before the financial year ends, you are technically "cashless". Petronas will be in same "cashless" position if that happens because profits had fell drastically against their forecast.
You are using a layman's understanding of cashless means dead broke, no more money, pok gai already.
Often we hear certain company lost $X million last financial year, that doesn't means that company is going broke but just means they had spend more than their income. The next thing they need to do for the next budgeting is to "recover" this loss or else they'll be in the red year after year like example MAS (Malaysian Airline System) but the company is still around year after year.
Hope you can improve on you accounting knowledge soon and good luck to your company.

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Could you share which accounting standard or source that tells you that
[When your annual funds allocation is exhausted before the financial year ends, you are technically "cashless".] or this is just your personal definition?

sgtsk said:

Could you share which accounting standard or source that tells you that
[When your annual funds allocation is exhausted before the financial year ends, you are technically "cashless".] or this is just your personal definition?

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The accounting standard is called "Snowbird FRS 7: Cashless Statement." Hahaha

sgtsk said:

Could you share which accounting standard or source that tells you that
[When your annual funds allocation is exhausted before the financial year ends, you are technically "cashless".] or this is just your personal definition?

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When the funds allocation is exhausted before the financial year ends, where is the cash you need is coming from?
Will you still say you're flushed with cash or out of cash, can your accounts Dept still pay bills, you tell me!
Of cos you can draw from reserves, get a loan, sell bonds, liquidate assets, etc.,there are so many ways to raise money and why are you doing it is just because you are out of cash!
Still don't understand go ask your accountant and hopefully he/she is a qualified one and enough of accounting lessons.

snowbird said:

When the funds allocation is exhausted before the financial year ends, where is the cash you need is coming from?
Will you still say you're flushed with cash or out of cash, can your accounts Dept still pay bills, you tell me!
Of cos you can draw from reserves, get a loan, sell bonds, liquidate assets, etc.,there are so many ways to raise money and why are you doing it is just because you are out of cash!
Still don't understand go ask your accountant and hopefully he/she is a qualified one and enough of accounting lessons.

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You avoiding the ultimate questions:

Does cashless mean the Petronas has no cash? If not what does cashless mean? I ask for your source of your interpretation of cashless, please give me one authoritative accounting source or standard.

tstar said:

Time has changed. Big bio and pharmacy moving out of sg. surely high tech ones.

http://www.straitstimes.com/business/economy/pharma-rd-industry-in-state-of-flux?xtor=CS3-18

Moving to US and set up R&D centres in Shanghai.

These two countries have got a whole system of engineering and scientific research.

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I expect india will be the country to watch, not china. Inventing new drug waste a lot of time on clinical trial, FDA rulings make the whole process rigid and unproductive. Want to become the research hubs for those big pharma, actually very easy, create the ecosystem, make the patient pay for trial drugs, loosen rulings to allow human testing easier with more risk taken in. If india can make scientific research into real product quicker, big pharma will flock to india and ppl will buy their latest medicine in india because various developed countries drugs authority will not approve as quickly.

sgtsk said:

I think with FC coming on line, more tours would package Singapore and JB, with accommodations and luxurious shopping tilting towards FC, thus lowering costs.

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Without anyone notice, FC had been secretly targetting on eating tiny bits of sg tourism pie. Iskandar is low cost area, not only tourism, there will be more to come. Best way for singapore to overcome iskandar economic growth is to participate with them. If PSA help jb develop their port and have shares in it, they will not be competing with each other like now. They can diversified their portfolio with quality port and budget port.

snowbird said:

When the funds allocation is exhausted before the financial year ends, where is the cash you need is coming from?
Will you still say you're flushed with cash or out of cash, can your accounts Dept still pay bills, you tell me!
Of cos you can draw from reserves, get a loan, sell bonds, liquidate assets, etc.,there are so many ways to raise money and why are you doing it is just because you are out of cash!
Still don't understand go ask your accountant and hopefully he/she is a qualified one and enough of accounting lessons.

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Well, why bother so much on free cash flow, you should put your effort in analysing their operating cash flow. If their cost per barrel of oil they drill is higher than what they can sell, essentially the more they sell, the more they loss, is a money losing business. Negative free cash flow may means that they are spending more on capital expenditure which is a good thing for future free cash flow.

So all you need to understand is, do their business still generating fresh cash? Will negative free cash flow make them illiquid (cashless, seem snowbird got entirely different understanding on this word)? Do they have debt problem that they cant handle...eg bond expiry, interest payment etc?

Why are we even focusing so much on 1 or 2 year of free cash flow negative and think petronas going to hell? Will such capital expenditure continue on every year until petronas go to hell?

JOHOR BARU, May 31 — Johor is targeting one million Chinese tourist arrivals this year through the Causeway and the Second Link.

Last year, there were 797,862 arrivals from China compared with 628,087 arrivals in 2014 — a 25 per cent increase.
“These are the figures we received from the Immigration Department. Chinese tourists will stay a night or two in Johor Baru before they visit Malacca or Kuala Lumpur,” said state tourism executive councillor Datuk Tee Siew Keong.
Speaking at the sidelines of the welcoming ceremony for the inaugural AirAsia Guangzhou-Johor Baru flight which landed at Senai International Airport yesterday, Tee said the direct flight would help increase the number of Chinese tourists to Johor.

“I am looking at a 30 per cent increase of Chinese tourists coming into Johor Baru this year to make it one million arrivals from China. The daily Guangzhou-JB flight will help us achieve the magical million mark,” he said.
“Guangzhou and its nearby areas are densely populated and we can tap its potential.”
He said feedback obtained from passengers yesterday was that they found it convenient to fly directly to Johor Baru rather than going to Singapore. Tee also said the online e-visa application for Chinese tourists to enter Malaysia has been a plus point for Chinese arrivals.
“The Second Link has a dedicated counter for visa-on-arrival applications for Chinese tourists. This is for those who are already in Singapore and want to visit Malaysia,” he said.
The inaugural flight carried a total of 170 passengers, or 95 per cent of the aircraft’s capacity. The majority of passengers were Chinese tourists.
“Many of them are looking forward to a few days of sightseeing and shopping at the duty free Johor Premium Outlet. The Chinese love shopping and the food in Johor Baru.”
Senai Airport chief executive officer Mohd Derick Basher said they were holding talks with other airlines interested to charter flights from Guangzhou and Shenzhen into Johor Baru.
“The chartered flights from China could be feasible,” he said.
Another source of Chinese arrivals into Johor Baru were property buyers in the Chinese-owned Forest City.
According to Yu Renze, the company’s vice-president and head of strategy, about 1,000 visitors from China visit their showhouse daily with the intention of buying property.
“Their visit to our development project means more tourists into the city,” he said.

Direct flights from Chinese cities to Senai probably the real 'game-changer'....

Elderly health costs to rise tenfold by 2030



Elderly healthcare costs in Singapore are projected to rise tenfold over the next 15 years to more than US$49 billion ($66 billion) annually, according to a report.
This means an average of US$37,427 will be spent on healthcare for each elderly person by 2030. This is the highest in the Asia-Pacific region, just ahead of Australia.
The report was released yesterday at the launch of Marsh & McLennan Companies' new Asia-Pacific Risk Centre, which is supported by the Economic Development Board.

Any advise how to hedge against the rising healthcare cost ?
1- Buy Iskandar property ?
2- Buy Medic shield ?
3- ....

toyohon said:

Direct flights from Chinese cities to Senai probably the real 'game-changer'....

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Airasia destinations China: Beijing, Changsha, Shanghai, Xiamen, Guangzhou, Chengdu, Chongqing, Quilin, Hangzhou, Nanning, Shantou, Shenzhen, Wuhan, Xian.
Imagine everyday, tourists fly into KL / JB. These are real game changers.
Even if it is via KLIA, bus journey to JB is only 3 to 4 hours which is normal travel time in China.

jasonjst said:

Elderly health costs to rise tenfold by 2030



Elderly healthcare costs in Singapore are projected to rise tenfold over the next 15 years to more than US$49 billion ($66 billion) annually, according to a report.
This means an average of US$37,427 will be spent on healthcare for each elderly person by 2030. This is the highest in the Asia-Pacific region, just ahead of Australia.
The report was released yesterday at the launch of Marsh & McLennan Companies' new Asia-Pacific Risk Centre, which is supported by the Economic Development Board.

Any advise how to hedge against the rising healthcare cost ?
1- Buy Iskandar property ?
2- Buy Medic shield ?
3- ....

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Just like my car, normal service and minor repairs, I do it in local car workshops. Anything major like gearbox or engine, sent back to the original service centers.

Seriously, an option is go for MM2H and buy medical insurance locally to enjoy private hospital care. Worst case scenarios, go to Government hospitals, costs are a lot cheaper. Locals get free medicals.

There are a few CPF approved Private Hospitals in Msia/JB.
Their cost even thou private is quite affordable.
But best Insurance is Diet + Lifestyle.
Especially FOOD choices...

eric3417 said:

There are a few CPF approved Private Hospitals in Msia/JB.
Their cost even thou private is quite affordable.
But best Insurance is Diet + Lifestyle.
Especially FOOD choices...

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And may I add drink Chinese tea like Puer regularly.

sgtsk said:

And may I add drink Chinese tea like Puer regularly.

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Stress is the number 1 killer leading to cancer, hypertension and heart attack.
Too much bak kut teh also lead to high cholesterol.
Yesh, chinese tea and walks around gardens regularly does help.

Just curious, I recently went for medical inclusive of blood tests, ultrasonic of organs, x ray, threadmill stress tests...cost me RM880 at Sime Darby Medical Center.
How much does it cost in Singapore?

Tekkun said:

Stress is the number 1 killer leading to cancer, hypertension and heart attack.
Too much bak kut teh also lead to high cholesterol.
Yesh, chinese tea and walks around gardens regularly does help.

Just curious, I recently went for medical inclusive of blood tests, ultrasonic of organs, x ray, threadmill stress tests...cost me RM880 at Sime Darby Medical Center.
How much does it cost in Singapore?

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I came across a list here

http://www.cityhealth.com.sg/healthscreen.htm

sgtsk said:

I came across a list here

http://www.cityhealth.com.sg/healthscreen.htm

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Price not too bad, maybe a bit extra only in Singapore.

Tekkun said:

Price not too bad, maybe a bit extra only in Singapore.

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If in SG, it only cost a little bit more, how can they be competitive?
To draw SG customers it has to be more than 30% lower to be attractive enough for all the hassle involved.

Tekkun said:

Price not too bad, maybe a bit extra only in Singapore.

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Boss, the comprehensive testing u did at Sime Darby is equivalent to Cityhealth clinic Deluxe Plan E at $780(SGD)!
And bear in mind it's just a clinic. Not a full fledge Private Hospital.
Savings is more than 100% lo…

eric3417 said:

Boss, the comprehensive testing u did at Sime Darby is equivalent to Cityhealth clinic Deluxe Plan E at $780(SGD)!
And bear in mind it's just a clinic. Not a full fledge Private Hospital.
Savings is more than 100% lo…

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Opps...I did that in Sime Darby Ara Damansara, one of the newest hospital they have. I thought same standard.Didn't know the difference.

In fact, once I did slight chest pain, saw a cardiologist last year. Did heart echo, kinda ultrasonic scan of the heart and able to see inside, blooding coming in and out, pumping action all that. in the end, it is just a muscle pull and that cost me RM 1700.