The Great CPF Cash-Out: How One Malaysian Hairstylist Gamed Singapore’s System For 30 Years

[Aaron carter]

Addy Lee just pulled off what might be Singapore’s most expensive haircut – and it cost the system millions.


The former celebrity hairstylist, who spent three decades styling the locks of Singapore’s elite, has officially said “sayonara” to his permanent resident status.


His parting gift? A complete Central Provident Fund (CPF) withdrawal that he claims will keep him living it up in Thailand for the next 30 years without lifting a finger.


“I can live 30 more years – eat, drink, play, not work, lie there – and it would likely still be enough,” the 54-year-old Malaysian told Singapore media.


The Perfect Malaysian Exit Strategy

Lee’s exit strategy reads like a masterclass in cross-border system optimisation.

• Arrived from Malaysia as a young entrepreneur in the 1990s.

• Build a hair salon empire with Monsoon Hair House.

• Ride Singapore’s property boom while contributing to CPF.

• Sell everything – house, businesses, the works.

Then, when it’s time to retire, renounce PR status, cash out the entire CPF piggy bank, and relocate to Thailand, where the Singapore dollars stretch like a good hair elastic.

It’s the ultimate “thanks for the memories” move, complete with a Facebook farewell tour that reads like a love letter to his adopted country.

In his latest Facebook post, Lee gets refreshingly honest about his retirement math, explaining that his plan at 50 was to retire and relax after selling his assets, giving him more time to spend with his mother and sister while being able to travel home to Malaysia or bring his mother to stay with him in Bangkok.

More at https://urlr.me/fM5Kbz

 

[Leongsam]

Many Singaporeans have made similar exits yours truly included.

I cashed out to Perth WA.

The only difference was that I had to serve the nation but because i found the SAF a very relaxing place I was happy to do annual in camps for more than a decade. It was like a paid vacation.

 

[syed putra]

I think vietnam better value than Thailand if no language barrier. Or better still, yunnan.

 

[Taylorshit]

Many Singaporeans have made similar exits yours truly included.

I cashed out to Perth WA.

The only difference was that I had to serve the nation but because i found the SAF a very relaxing place I was happy to do annual in camps for more than a decade. It was like a paid vacation.

I thought the police were after you, hence your ass fled overseas?

 

[Cs101]

I wonder vat QYF has to say....

 

[hbk75]

I thought the police were after you, hence your ass fled overseas?

I think goh chok tong wanna chase him for peddling porn before he ran road.

 

[Narong Wongwan]

Haha suay gay kena singled out but all the PRs are doing this la. Thanks to pap for being their accomplice

 

[k1976]

Many Singaporeans have made similar exits yours truly included.

I cashed out to Perth WA.

The only difference was that I had to serve the nation but because i found the SAF a very relaxing place I was happy to do annual in camps for more than a decade. It was like a paid vacation.

Planning my exodus

 

[k1976]

View attachment 227751

Addy Lee just pulled off what might be Singapore’s most expensive haircut – and it cost the system millions.


The former celebrity hairstylist, who spent three decades styling the locks of Singapore’s elite, has officially said “sayonara” to his permanent resident status.


His parting gift? A complete Central Provident Fund (CPF) withdrawal that he claims will keep him living it up in Thailand for the next 30 years without lifting a finger.


“I can live 30 more years – eat, drink, play, not work, lie there – and it would likely still be enough,” the 54-year-old Malaysian told Singapore media.


The Perfect Malaysian Exit Strategy

Lee’s exit strategy reads like a masterclass in cross-border system optimisation.

• Arrived from Malaysia as a young entrepreneur in the 1990s.

• Build a hair salon empire with Monsoon Hair House.

• Ride Singapore’s property boom while contributing to CPF.

• Sell everything – house, businesses, the works.

Then, when it’s time to retire, renounce PR status, cash out the entire CPF piggy bank, and relocate to Thailand, where the Singapore dollars stretch like a good hair elastic.

It’s the ultimate “thanks for the memories” move, complete with a Facebook farewell tour that reads like a love letter to his adopted country.

In his latest Facebook post, Lee gets refreshingly honest about his retirement math, explaining that his plan at 50 was to retire and relax after selling his assets, giving him more time to spend with his mother and sister while being able to travel home to Malaysia or bring his mother to stay with him in Bangkok.

More at https://urlr.me/fM5Kbz

Estimated cash out 700k-1mil SGD
Can live as a happy man for rest of his life ler
Very good ending for a new village Kia

 

[bigozt]

Well, if he inspired and trained the next gen of Sinkie-Mudland hairstylists he’s done his part. Let him go in peace. The question is why news article on him? If he initiated it, he’s got a chip on his shoulder and better he go in first place. Sinkie land is not for the mediocre or untalented