Economic News

[snowbird]

Home country poor economy, how to invest in other country?
If retrenched or pay cut, how to pay bank loans?
In times like this, go where it is small, and go economy.

And sharks are circling..

Exactly, in times like that, nobody will be investing, cash is king.
If JB is depending heavily on foreign buyers, especially from SG and under such circumstance, it would means that the property market in JB will be even worse off.
So sad, cheap cheap lelong also no takers.

 

[sgcount]

Actually, I don't believe in all this negative news. The economy is still growing, just slower. China is also still expanding, just slower also than before. But because it's slower, people are saying Dooms Day is coming!

Singapore is not the only country going through this slow down. Australia, Europe, Britain etc are also the same. Where is safe?

There are still people buying cars despite the high COEs. Properties are still being snapped up at new launches despite whatever cooling measures the SG govt has introduced. Where got slow down? I think it's only in very specific industries. Most are still moving along well. We haven't yet seen any widespread retrenchment or any financial crisis coming soon.

 

[snowbird]

Actually, I don't believe in all this negative news. The economy is still growing, just slower. China is also still expanding, just slower also than before. But because it's slower, people are saying Dooms Day is coming!

Singapore is not the only country going through this slow down. Australia, Europe, Britain etc are also the same. Where is safe?

There are still people buying cars despite the high COEs. Properties are still being snapped up at new launches despite whatever cooling measures the SG govt has introduced. Where got slow down? I think it's only in very specific industries. Most are still moving along well. We haven't yet seen any widespread retrenchment or any financial crisis coming soon.

Actually it was Uncle Tekkun's kind and timely reminder that times ahead are bad and even SG is not spared.
So be forewarned that the investment climate in SG and also JB will be in some ways affected and things could get worse, believe it or not is up to you.
And for those who pathetically hopeful people out there don't take things for granted and better have a back up plan.

 

[Frodo]

Actually it was Uncle Tekkun's kind and timely reminder that times ahead are bad and even SG is not spared.
So be forewarned that the investment climate in SG and also JB will be in some ways affected and things could get worse, believe it or not is up to you.
And for those who pathetically hopeful people out there don't take things for granted and better have a back up plan.

Being pathetically hopeful, moving to JB was my backup plan!

 

[snowbird]

Being pathetically hopeful, moving to JB was my backup plan!

But Uncle Tekkun was talking about retrenchment and pay cut wor..............then how?
And sharks circling, waiting to devour loan defaulters.....

 

[sgcount]

Actually it was Uncle Tekkun's kind and timely reminder that times ahead are bad and even SG is not spared.
So be forewarned that the investment climate in SG and also JB will be in some ways affected and things could get worse, believe it or not is up to you.
And for those who pathetically hopeful people out there don't take things for granted and better have a back up plan.

You don't have to state explicitly "believe it or not is up to you". It's an unspoken rule on the Internet to read information at your own discretion. Similarly, I will also maintain that I've said how I feel about the global situation. Believe it or not is up to you.

There's also nothing "timely" about "bad times ahead". Unless one has been away from the news, everyone should know by now in the last 2 years or so, the global economy has not been doing so well. Anyone can try to be an expert to predict what will happen. So far, predictions are just personal opinions, and it's exciting sometimes to play God. But no one is God.

 

[xebay11]

Home country poor economy, how to invest in other country?
If retrenched or pay cut, how to pay bank loans?
In times like this, go where it is small, and go economy.

And sharks are circling..

....to those who do not plan.

 

[xebay11]

Actually, I don't believe in all this negative news. The economy is still growing, just slower. China is also still expanding, just slower also than before. But because it's slower, people are saying Dooms Day is coming!

Singapore is not the only country going through this slow down. Australia, Europe, Britain etc are also the same. Where is safe?

There are still people buying cars despite the high COEs. Properties are still being snapped up at new launches despite whatever cooling measures the SG govt has introduced. Where got slow down? I think it's only in very specific industries. Most are still moving along well. We haven't yet seen any widespread retrenchment or any financial crisis coming soon.

Singapore is not a place for wage earners or pseudo Entrepreneurs, it is a place for the ultra rich to park their money as a safe haven and true entrepreneurs whose revenue and business is not dependant on Singapore market but world market.

 

[Tekkun]

....to those who do not plan.

Yes, there are some of us here who had gone through many recessions. We know what we are talking about.
We know what and how to plan long before it happen.

 

[sgcount]

Singapore is not a place for wage earners or pseudo Entrepreneurs, it is a place for the ultra rich to park their money as a safe haven and true entrepreneurs whose revenue and business is not dependant on Singapore market but world market.

Agree on the part that SG has become a place where the rich will come to park their money. It's a safe, strong country with non-corrupt, highly trusted governance. Low tax too.

For the wage earners, many don't seem to be complaining much too. The junior staff at my workplace are getting on well with their lives in SG. Yes, they feel HDB flats are getting expensive. But if planned properly, they can still afford them well. Just need to probably take longer-term loans and can't expect to live in too big flats.

In the NDP that just ended, the amount of patriotism was unimaginably strong. I haven't seen any slightest Dooms Day sign at all. Not with the PAP still ruling the country.

 

[Tekkun]

Agree on the part that SG has become a place where the rich will come to park their money. It's a safe, strong country with non-corrupt, highly trusted governance. Low tax too.

For the wage earners, many don't seem to be complaining much too. The junior staff at my workplace are getting on well with their lives in SG. Yes, they feel HDB flats are getting expensive. But if planned properly, they can still afford them well. Just need to probably take longer-term loans and can't expect to live in too big flats.

In the NDP that just ended, the amount of patriotism was unimaginably strong. I haven't seen any slightest Dooms Day sign at all. Not with the PAP still ruling the country.

I don't want to be a wet blanket nor am I a Singaporean. Maybe I am a Malaysian who is taught to survive in this wild wild west world.
My personal belief is "plan for yourself and by yourself". Do not be dependent that the Gomen or others will plan for you and everything will be all right.

 

[Frodo]

But Uncle Tekkun was talking about retrenchment and pay cut wor..............then how?
And sharks circling, waiting to devour loan defaulters.....

Just kidding lah...to be frank, moving to JB was never my backup plan to begin with.:p Peasants in my category find it hard to plan longer term. Our problem then was "baby lai liao! we need a bigger house!" As it turned out, SG not viable for moving up to a bigger HDB, so we moved out of SG to JB for a bigger house at a much lower cost. And as it turned out, by doing so we could rent out our HDB unit for passive income. I suppose that accidentally can become our backup plan if I kena chopped from job or pay got chopped.:o Maybe have to consider become Uber driver or GrabCar driver in JB. Or maybe enter into a rent-a-Uber-car scheme in Singapore.

 

[sgcount]

I don't want to be a wet blanket nor am I a Singaporean. Maybe I am a Malaysian who is taught to survive in this wild wild west world.
My personal belief is "plan for yourself and by yourself". Do not be dependent that the Gomen or others will plan for you and everything will be all right.

My previous post did not state "Don't worry. The SG government will take care of us." On the contrary, most Singaporeans should know by now the government will NOT take care of us, especially when old. That's why they lock up our CPF (like Malaysia's EPF) till we are old and we can't even take out the money any time we like.

What I meant was Singapore is still a preferred country for investors and the rich. I believe many here have also made good money in the past while investing in SG.

Regardless of where one is, be in SG, Msia, Europe, US or Australia, it's always wise to make preparations for the future.

 

[Frodo]

Agree on the part that SG has become a place where the rich will come to park their money. It's a safe, strong country with non-corrupt, highly trusted governance. Low tax too.

For the wage earners, many don't seem to be complaining much too. The junior staff at my workplace are getting on well with their lives in SG. Yes, they feel HDB flats are getting expensive. But if planned properly, they can still afford them well. Just need to probably take longer-term loans and can't expect to live in too big flats.

In the NDP that just ended, the amount of patriotism was unimaginably strong. I haven't seen any slightest Dooms Day sign at all. Not with the PAP still ruling the country.

There was a survey conducted a few years back which said that about 50% of Singaporeans would migrate if given the chance or choice? Maybe junior workers (relatively fresh into job market) are still happy and contented. But as junior grow to be senior, got girlfriend, get married, have kids, the financial burden will weigh down more and more.:(

 

[sgcount]

There was a survey conducted a few years back which said that about 50% of Singaporeans would migrate if given the chance or choice? Maybe junior workers (relatively fresh into job market) are still happy and contented. But as junior grow to be senior, got girlfriend, get married, have kids, the financial burden will weigh down more and more.:(

Really got such a survey results? Those I saw published in the Straits Times all sounded so positive about staying put in SG!

Actually out of 6 of my juniors, 1 is already married expecting a kid soon, 1 already applied successfully his BTO flat and will marry in next few years, 2 others are already attached. So far so good for them.

For the seniors, they have kids 5, 7 and 19 years old, just gone to local uni.... no complaints also. All happy.

There are really more PAP and SG supporters than we know! Maybe they don't come to such forums to post their love for the country. So we tend to hear a lot more negative views about SG because we are limited to mainly the Internet.

Every time the General Election comes, despite so many complaints we read on the Internet about the SG govt and life in SG, the PAP always wins by a convincing margin.

 

[Tekkun]

My previous post did not state "Don't worry. The SG government will take care of us." On the contrary, most Singaporeans should know by now the government will NOT take care of us, especially when old. That's why they lock up our CPF (like Malaysia's EPF) till we are old and we can't even take out the money any time we like.

What I meant was Singapore is still a preferred country for investors and the rich. I believe many here have also made good money in the past while investing in SG.

Regardless of where one is, be in SG, Msia, Europe, US or Australia, it's always wise to make preparations for the future.

Singapore is a safe haven for parking cash reserves otherwise I won't be using their services
I am not saying about old age provisions as well, we all know we have insurance policies and CPF, fully paid up properties, etc. Our twilight years are too far away to be worried about. I myself would never know when I will fall down.

What I am trying to drive at is the mitigating steps on how to counter impending market downturn this year or next year.
Perhaps it is time to review what we had committed, what can we afford, what are the options to explore and that go beyond just properties alone.

 

[Frodo]

Really got such a survey results? Those I saw published in the Straits Times all sounded so positive about staying put in SG!

Actually out of 6 of my juniors, 1 is already married expecting a kid soon, 1 already applied successfully his BTO flat and will marry in next few years, 2 others are already attached. So far so good for them.

For the seniors, they have kids 5, 7 and 19 years old, just gone to local uni.... no complaints also. All happy.

There are really more PAP and SG supporters than we know! Maybe they don't come to such forums to post their love for the country. So we tend to hear a lot more negative views about SG because we are limited to mainly the Internet.

Every time the General Election comes, despite so many complaints we read on the Internet about the SG govt and life in SG, the PAP always wins by a convincing margin.

Found the article http://news.asiaone.com/News/Latest+News/Singapore/Story/A1Story20121007-376116.html

Some other interesting reads below

http://lkyspp.nus.edu.sg/wp-content/uploads/2013/06/wp19.pdf

http://www.straitstimes.com/busines...apore-planning-move-abroad-in-next-five-years

 

[RedsYNWA]

Actually, I don't believe in all this negative news. The economy is still growing, just slower. China is also still expanding, just slower also than before. But because it's slower, people are saying Dooms Day is coming!

Singapore is not the only country going through this slow down. Australia, Europe, Britain etc are also the same. Where is safe?

There are still people buying cars despite the high COEs. Properties are still being snapped up at new launches despite whatever cooling measures the SG govt has introduced. Where got slow down? I think it's only in very specific industries. Most are still moving along well. We haven't yet seen any widespread retrenchment or any financial crisis coming soon.

SG economy is in bad shape lah. 1-2% growth, despite the continuous population growth? I believe productivity growth is near zero or even negative.

Oil and gas, retail, local property, logistics all in bad shape. Companies profits are down from previous years. Year-end bonuses and wage increments are expected to be v modest too. Whcih industry can be said to be doing well? Maybe only IT related I guess?

Malaysia, starting from a relatively lower base with a young population, is actually in better shape than SG, despite the obvious troubles with IMDB and oil & gas.

 

[Tekkun]

SG economy is in bad shape lah. 1-2% growth, despite the continuous population growth? I believe productivity growth is near zero or even negative.

Oil and gas, retail, local property, logistics all in bad shape. Companies profits are down from previous years. Year-end bonuses and wage increments are expected to be v modest too. Whcih industry can be said to be doing well? Maybe only IT related I guess?

Malaysia, starting from a relatively lower base with a young population, is actually in better shape than SG, despite the obvious troubles with IMDB and oil & gas.

http://www.straitstimes.com/business/economy/gloomy-sentiment-over-singapores-economy

 

[cow138]

I think the economy is bad.. This is the start of the plunge.. Although in Singapore the cash buffer is pretty large both from govt and individuals..
So the impact if shortlived will not be felt badly.
However if it's longer then 6 months to a year the you'll start to stay significant cracks