Every Other Day

Little Hu

2011-09-14T13:23:00.000+08:00

MR HU Chunhua is a rising star who is slated to reach the top echelons of power in the Chinese Communist Party (CCP) and his rapid ascent is unlikely to be derailed by the May protests in Inner Mongolia, according to observers.

The career of the 48-year-old Inner Mongolia party boss could even get a boost from the demonstrations which erupted across the grasslands after a Mongol herder was killed by a Han Chinese driver in a hit-and-run accident.

Mr Hu seemed to have dealt with the riots appropriately, with no more unrest flaring up since, noted analyst Wang Zhengxu from Nottingham University's China Policy Institute. This has enhanced his credentials in the party, he said.

'It (the unrest) won't affect his career path negatively,' Dr Wang added.

Dr Bo Zhiyue, an expert on elite politics at Singapore's East Asian Institute, agreed. Protests like those that erupted in Inner Mongolia are not uncommon in China and so do not necessarily reflect badly on Mr Hu, a protege of Chinese President Hu Jintao.

Many believe that Mr Hu, aptly nicknamed 'Little Hu', could eventually reach the top ranks of the CCP.

If Mr Xi Jinping, who will succeed President Hu as CCP chief in the second half of next year, is seen as the centre of China's fifth-generation leadership, the younger Hu is being touted by some analysts as a possible 'sixth generation' leader a decade from now.

Mr Hu certainly has the right credentials.

He shares many things in common with his mentor: No illustrious parents, but experience in Tibet as well as in the Communist Youth League.

He impressed many when he volunteered to work in Tibet after graduating from Peking University.

In 2009, he was made party chief of Inner Mongolia, the fastest among his cohort to assume such a position along with north-eastern Jilin provincial boss Sun Zhengcai.

Experts believe that he stands a good chance of being promoted to the 25-member Politburo during next year's 18th Party Congress.

There is even an outside chance that he will be admitted into the powerful Politburo Standing Committee, an even more exclusive club currently made up of just nine men.

The older Hu set a precedent when he was given a place in the elite club at the 14th Party Congress in 1992. He was 49 years old at the time and would take over as top party leader in 2003.

'There's going to be a vacancy for the post of vice-president in 2013 after Xi is elected as China's president. They will need to fill the post,' said Dr Bo.

Adding credence to such speculation is recent talk in the capital that Mr Hu may soon succeed Mr Liu Qi as Beijing party boss. Mr Liu turns 69 in November and is expected to retire by next year.

If this happens, it will further boost Mr Hu's chances of becoming the front- runner for China's top post in the next decade.

where our ministers studied

2011-08-08T15:52:00.000+08:00

Where our Ministes studied.

MM Lee Kuan Yew - Raffles Institution

SM Goh Chok Tong - Raffles Institution

SM S. Jayakumar - Raffles Institution

PM Lee Hsien Loong - Catholic High School / National Junior College

DPM Teo Chee Hean - St Joseph's Institution

DPM Wong Kan Seng - Outram Secondary School

K Shanmugam - Raffles Institution

Lim Hng Kiang - Raffles Institution

Raymond Lim - Raffles Institution

Dr Vivian Balakrishnan - Anglo-Chinese School

Dr Ng Eng Hen - Anglo-Chinese School

Tharman Shanmugaratnam - Anglo-Chinese School

George Yeo - St Patrick's School / St Joseph's Institution

Mah Bow Tan - St Joseph's Institution

Lui Tuck Yew - Anglo-Chinese School

Lim Swee Say - Catholic High School

Gan Kim Yong - Catholic High School

Dr Yaacob Ibrahim - Tanjong Katong Secondary School

Lim Boon Heng - Monfort Secondary School

Khaw Boon Wan - Chung Ling High School Penang

Mrs Lim Hwee Hua - Cresent Girls' School / Raffles Institution

Former President Yusof Ishak - Raffles Institution

Former President Benjamin Sheares - Raffles Institution

Former President Devan Nair - Victoria School

Former President Wee Kim Wee - Raffles Institution

Former President Ong Teng Cheong - Hwa Chong Institution

Current President S R Nathan - Victoria School

China's growing middle class

2011-07-09T14:28:00.000+08:00

from 4% in 2005 to 56% to 2030

HK's Centaline opens branch in Havelock

2011-07-09T14:06:00.000+08:00

INTEREST from wealthy foreign buyers in Singapore's persistently strong residential property market is hitting new highs.

In the latest indicator of the mounting interest, one of Hong Kong's largest property agencies has set up shop here to muscle in on the local market.

This comes as Singapore-based agencies increasingly look offshore to wealthy foreign buyers - especially those in China - who are drawn to the Republic's rising prominence.

Hong Kong's Centaline Property Agency opened its first branch yesterday in Havelock Road. The firm already has operations in Hong Kong, Macau, China and Taiwan and recorded HK$8.6 billion (S$1.35 billion) worth of commissions last year.

Centaline Singapore general manager Clarence Chow said that he sees potential in the Singapore market because, as has been the case in Hong Kong, property prices here have risen continuously.

The appeal for foreign property agencies moving here is that it allows them to cater to - and cash in on - existing clients keen on expanding their portfolio to include Singapore, which has appeared on many more investors' radar screens after the opening of its two integrated resorts.

Mr Chow said Singapore's comprehensive economic plans, advanced medical and educational systems and its open immigration policy are attracting international funds to its property market.

'(As) Singapore opens its gambling industry in order to boost tourism, this further enhances its economic growth... Centaline provides a platform for clients to seek investment opportunities between mainland China, Hong Kong, Macau, Taiwan and Singapore,' Mr Chow said.

Centaline has 25 employees in its sales team and plans to hire 30 more by the end of this year.

It also plans to open up to 40 branches in districts 1, 4, 9 to 11 and 15 in the next five years.

It is exporting the Hong Kong model of property agencies with numerous small offices scattered across the island to allow buyers or sellers to walk in with their inquiries instead of looking listings up online or in newspapers.

High-end condos in prime areas, going for $3 million to $5 million, will be its first area of focus as these are the units that Chinese buyers are most interested in.

These buyers are also drawn by Singapore's strong economy and safe environment, the strengthening Singdollar and the more muted publicity when they purchase expensive homes here, Mr Chow said. Although the agency is small in size compared to local giants, its advantage will be its ability to draw on a sizeable network of clients in Hong Kong and China, known to be the most aggressive buyers, he added.

Local property agencies have also started to venture to overseas markets and are increasingly looking to tap burgeoning interest from Chinese buyers who make up the largest share of foreign buyers here.

PropNex chief executive Mohamed Ismail said the firm started working with

China-based agencies about four years ago to help market some local projects there. Next month, it will also launch a Chinese website with information on foreign property ownership to cater to Chinese investors.

'I understand why some foreign agencies might be coming. It is market driven as many Chinese buyers now want their portfolio to be expanded to include Singapore so the agencies might want to offer a full suite of services,' he added.

ERA Realty key executive Eugene Lim added that while its businesses in other countries such as Korea, Japan and Indonesia are franchises, operations in Singapore and China are kept within the firm as it is keen to tap the interest of Chinese foreign buyers as well.

Psychotherapy a stigma in S. Korea

2011-07-08T11:53:00.001+08:00

July 8 2011 Psychotherapy a stigma in S. Korea

Despite growing stresses and depression, few talk openly about emotional problems

SEOUL: It can sometimes feel as if South Korea, overworked, overstressed and ever anxious, is on the verge of a national nervous breakdown, with a rising divorce rate, students who feel suffocated by academic pressures, a suicide rate among the highest in the world and a macho corporate culture that still encourages blackout drinking sessions after work.

More than 30 South Koreans kill themselves every day, and the suicides of entertainers, politicians, athletes and business leaders have become almost commonplace. The recent suicides of four students and a professor at the country's leading university shocked everyone, and in recent weeks a TV baseball announcer, two professional soccer players, a university president and the former lead singer in a popular boy band killed themselves.

And yet Koreans - while almost obsessively embracing Western innovations ranging from smartphones to the Internet and cosmetic surgery - have largely resisted Western psychotherapy for their growing anxieties, depression and stress. Talk-therapy modalities with psychiatrists, psychologists and other types of trained counsellors are only slowly being accepted, according to mental health experts in the country.

'Talking openly about emotional problems is still taboo,' said Dr Kim Hyong Soo, a psychologist and professor at Chosun University in Kwangju.

'With depression, the inclination for Koreans is to just bear with it and get over it,' he said. 'If someone goes to a psychoanalyst, they know they'll be stigmatised for the rest of their life. So they don't go.'

Even when Koreans do seek out counselling, the learning curve can be steep.

A prominent psychiatrist with a practice in Seoul, Dr Park Jin Seng, said it was not uncommon for some new patients to come to his office, talk over a problem for 40 minutes and then be shocked when they are presented with a bill.

'They'll say, 'I have to pay? Just for talking? I can do that for free with my friend or my pastor',' said Dr Park. Patients also baulk, he said, at the idea of spending more than a couple of sessions on talk therapy. Instead, most patients simply ask for, and expect, medication, said Dr Park. About a third of his patients come for counselling, and the rest rely on medication.

'Koreans are getting more comfortable with Western psychotherapy, but this is limited to the highly educated and those familiar with Western ways,' said Dr Oh Kyung Ja, a Harvard-trained professor of clinical psychology at Yonsei University in the capital Seoul.

South Korean society has traditionally been underpinned by Buddhist and Confucian values, which emphasise diligence, stoicism and modesty. Individual concerns are secondary. Preserving dignity, or 'face', is paramount.

Meanwhile, the country's suicide rate is nothing short of alarming, nearly three times higher than in the United States. The rate doubled in the decade between 1999 and 2009. Suicide pacts among strangers who meet online is a growing phenomenon. Suicides by drinking pesticides, hanging, or jumping from tall buildings are the most common.

Some experts trace South Korea's emotional malaise to the decline of these traditional values and the rise of the country as a modern industrial power, starting in the 1980s. South Korea, once even poorer than woeful North Korea, now boasts the world's 13th-largest economy.

'As the society became more oriented towards materialism, people started to compare themselves,' said Dr Park. 'There's a lot of competition now, even starting in childhood, and the goals of life have moved. We have a saying: 'If one cousin buys land, the other cousin gets a stomach-ache'.'

Beijing may cut spending on strategic industries

2011-07-08T11:51:00.000+08:00

Jul 8 2011

Beijing may cut spending on strategic industries

BEIJING: China may rein in plans to invest heavily in seven new strategic industries, including high-speed rail and wind power, scaling back cutting-edge projects for industries that suffer from old-fashioned problems such as corruption and overcapacity, sources said.

Beijing originally planned to invest up to US$1.5 trillion (S$1.8 trillion) over the next five years in the seven sectors, hoping they would grow into a pillar of economic growth and help shift the world's second-largest economy away from one centred on manufacturing cheap goods.

The pullback on spending stems partly from worries about corruption in the country's high-speed rail project and overcapacity concerns in the wind power sector, said two sources with ties to the Communist Party leadership and knowledge of the plan.

'The (size of the) retrenchment is still under deliberation,' said a source.

Beijing has long used infrastructure spending to generate jobs and economic activity, most recently tapping government coffers to stave off the effects of the global financial crisis.

While high rates of fixed-asset investment have helped maintain strong growth, some economists, such as Professor Nouriel Roubini, have argued that China's current levels of investment are unsustainable.

These days, China is more concerned about taming inflation and managing a mountain of debt piled up by local and provincial governments that the country's state auditor estimates at 10.7 trillion yuan (S$2 trillion).

The strategic industries cover high-end equipment manufacturing, alternative energy, biotechnology, new-generation information technology, alternative fuel cars and energy-saving and environmentally friendly technologies.

Lower spending in high-speed rail is directly related to the departure of the railway minister, sacked this year under a cloud of corruption, said the sources.

Former minister Liu Zhijun spearheaded China's high-speed rail expansion until he was removed in March for 'disciplinary violations', a charge commonly used to denote corruption.

In April, Premier Wen Jiabao warned against corruption tied to big projects, telling 'cadres, their families and staff as well as heads of state-owned enterprises, state financial institutions and academic institutions not to intervene in or manipulate bids in any form'.

The ministry has denied any plans to cancel or downgrade rail lines.

But the new minister, Mr Sheng Guangzu, put investment in railway infrastructure this year at 600 billion yuan, compared with his predecessor's pledge of 700 billion yuan.

SGX plans circuit breakers by year-end

2011-07-08T11:36:00.000+08:00

July 8 2011 Jonathon Kwok

THE Singapore Exchange (SGX) wants circuit breakers in place by the end of the year to prevent wide swings in share prices.

They will apply only to blue chips, and click in at times of price volatility by restricting trade and allowing investors to make more considered assessments.

Said a statement by the SGX yesterday: 'The proposed circuit breakers provide an additional safeguard... in times of high price volatility. This move will... increase confidence among market participants.'

Investors here and overseas endured some wild rides after the collapse of Lehman Brothers in 2008 unleashed violent price swings among blue chips.

Nerves were shredded again in the United States in May last year, when a flash crash wiped some 700 points, or about 7 per cent, off the Dow Jones Industrial Average within a few minutes, before a rebound kicked in.

That prompted the authorities to announce new circuit breakers for Wall Street.

Other markets, including those in South Korea, the Bombay Stock Exchange and the Japanese bourses in Tokyo and Osaka, also apply curbs when prices swing wildly.

Singapore's proposed circuit breakers will apply to the component stocks of the benchmark Straits Times Index (STI) and the popular MSCI Singapore Free Index (SiMSCI). There are 30 stocks on the STI and 32 on the SiMSCI, with many overlaps, as some shares are found on both indexes.

Extended settlement contracts based on these counters and exchange-traded funds based on the two indexes will also be covered.

The SGX said these stocks are the 'most likely to impact market sentiment'.

It added that lower-priced shares could also suffer big price swings, but if circuit breakers are triggered frequently on these, it could disrupt the market.

The circuit breakers will operate during the 9am to 5pm trading session, but not during the opening and closing routines.

At the start of the trading day, a reference price for each stock will be set at its opening price. Trading can occur within a price band of 10 per cent above or below this reference point.

But if an incoming order causes a trade to be matched outside this band, the order will be rejected and a five-minute cooling-off period started, allowing market players to re-evaluate the situation.

Trading can continue during this cooling-off period if it is within the original price band.

After the cooling-off period, a new price band will be established. The earlier reference price will either be the lower limit or upper limit of the new band.

SGX statistics show that between 2006 and last year, blue chips mostly stayed within a 10 per cent range of the day's opening price, even during the bull run of 2007 and the post-crisis recovery of 2009.

The exception was around September to December 2008, in the highly volatile period following the Lehman Brothers collapse.

Circuit breakers like those being proposed would have been triggered 261 times in 2008, compared with 55 times in 2009 and only three times last year.

In April, SGX chief executive Magnus Bocker said the bourse operator would introduce circuit breakers by early next year, but the aim now is to bring them in by the end of the year.

The SGX also has other steps to address rapid price movements, such as a 'forced order' key range. This prevents accidental entry of orders outside a prescribed range by requiring market participants to use a forced key function to input the order.

Market participants and the public have until July 28 to comment on the proposal.

The SGX also wants feedback on how structured warrants on blue chips should be treated.

Fears of China's hard landing 'unfounded'

2011-07-08T11:33:00.000+08:00

July 8 2011 by Goh Eng Yeow

AN ECONOMIST here believes China's red-hot economy is unlikely to suffer the sort of crash landing that gives nightmares to stock traders and leaders of trade-dependent nations in the region.

OCBC economist Tommy Xie says he is confident that such a scary scenario is not on the cards, even though China's mighty manufacturing sector recently showed signs of flagging.

China is now a big export destination for Singapore and commodities-rich South-east Asian countries such as Malaysia and Indonesia, taking up between 8 and 12 per cent of their exports.
So even as investors ride the recent stock market recovery sparked by Greece avoiding a default on its €340 billion (S$595 billion) debt, they are looking north with trepidation to see if China's insatiable appetite for raw materials is sustainable.

At a seminar run by OCBC Bank yesterday, Mr Xie noted that for a country used to growing at an average annual rate of 10 per cent in the past 30 years, any halving of the annual growth rate would be considered a 'hard landing'.

Fortunately, there are plenty of cushions to keep the mainland economy humming along. Unlike heavily indebted European countries and Japan, China is relatively robust fiscally.

Even after throwing in all the local government debt, central bank bills, treasury bonds and other contingent liability, total debt accounts only for about 66 per cent of the mainland's gross domestic product (GDP). In contrast, Germany, Europe's strongest economy, has a debt-to-GDP ratio of 74 per cent, while Greece's debt-to-GDP is 150 per cent.

This gives China leeway in pumping huge sums into massive projects to help underpin its economic growth.

Said Mr Xie: 'In the next five years, China commits to build 36 million affordable housing units, a 2.8 trillion yuan (S$530 billion) budget for a high-speed train network and another 600 billion yuan for a west-to-east electricity transmission system.'

This will mark part of China's efforts to transform itself from an export-driven to a domestic demand-driven economy.

Mr Xie also noted that in its battle against inflation, Beijing had repeatedly asked banks to set aside more of their cash and reserves so they will not be lent.

In fact, it has done this 12 times in the past two years.

In contrast, Beijing has raised interest rates only three times this year. Mr Xie believes the latest interest rate hike on Wednesday will be Beijing's last this year.

'It is a reflection that Beijing understands that many small and medium- sized enterprises are struggling to get loans and hiking interest rates will only add to their burden,' he said.

Economists at other banks concurred with his views that there may be no further interest rate hikes in China this year.

In its Asian strategy report, Deutsche Bank's chief economist Jun Ma said he expects Beijing to hold its policy rates for an extended period, after the latest hike in one-year benchmark deposit rates and lending rates by 0.25 percentage point.

'We also believe the People's Bank of China may begin to modestly relax credit policies by the end of the third quarter,' he added.

But DBS Vickers analyst Chris Leung noted that further tightening in China may still be possible as the country's asset inflation problem has not been resolved, as property prices in many smaller Chinese cities continue to surge.

May 30 2011 S'pore workers 'world's unhappiest'

2011-05-31T13:46:00.000+08:00

Survey of 14 countries finds local employees are also the least loyal- by Mellissa Ho

HATE your work? Dread going in on Monday? Considering quitting your job?

Well, you are not alone. Most of the Singapore workforce is with you, according to one survey.

A poll of employee attitudes in 14 countries has ranked Singapore last in workplace happiness. Unsurprisingly, this correlates to loyalty to employers, where Singapore is again ranked at the rear.

Talent management company Lumesse polled about 4,000 employees from a wide variety of industries.

People were asked about how happy they were at work, whether they felt their skills were properly utilised, the career paths open to them, and the training and career development opportunities they had.

The results put Singapore last in three major areas - we least enjoy going to work, are the least loyal and have the least supportive workplaces.

Only 17 per cent of Singapore's workforce see themselves staying with their current employer forever. The global average is 35 per cent.

'Clearly, very few employees feel bonded to their companies. This is going to be a problem as companies are not getting the full potential of workers,' said Mr Rolf Bezemer, Lumesse's managing director for Singapore, Malaysia and Australia.

At the same time, only 19 per cent of those polled in Singapore look forward to their work each day, compared to the global average of 30 per cent.

When it comes to positive and supportive workplaces, only a paltry 12 per cent vouch that they exist in Singapore. Globally, 20 per cent believe so.

Mr Bezemer attributes Singapore's poor showing to the lack of transparency and consistency in workplaces here and an absence of stimulating jobs.

Ms Wong Su-Yen, senior partner and Asean managing director for human resources consultancy firm Mercer, said: 'Strong economic growth in Singapore has led to increased job opportunities, so organisations must work harder than ever to attract and retain people.'

Mr Phillip Overmyer, chief executive at Singapore International Chamber of Commerce, agreed: 'There are so many opportunities to be employed (in Singapore) that people don't mind job hopping as they know they can always find something equally good, if not better, elsewhere.'

That might suggest that monetary incentives are the way forward but money does not always make the world go round.

The Lumesse survey found that Singapore performed well on pay, with 14 per cent commenting that their salaries have gone up by at least 20 per cent over five years. The global average is 9 per cent.

Yet people are still leaving.

Ms Majella Slevin, manager for secretarial and support division at human resources firm Robert Walters, added: 'People stay in jobs also for a good work-life balance and clear career paths.'They must also feel that they are valued employees, she added

Sales assistant Janice Lin, who turns 26 this year, 'hopped' five times before landing her current job. 'It's very common for young adults to try out different things for novelty's sake. A lot of my friends do it,' she said.She estimates that an average working person like her will job-hop three times, staying in each place for about a year, before settling down.

In today's talent-scarce society, perhaps this should be taken as only natural. Rather than fight it, embrace it. Do not focus on seeking long-term employment from all employees, advises Mr Josh Goh, assistant director, corporate services, for HR firm The GMP Group.

Instead, he said: 'Focus efforts on building a strong employer brand by harnessing the best from employees during their employment.'

2011-01-26T11:45:00.000+08:00

Gggggggg

- Posted using BlogPress from my iPhone

Real Estate Sentiment Index (RESI)

2010-07-29T17:55:00.000+08:00

(SINGAPORE) In a historic move, the Real Estate Developers’ Association of Singapore has teamed up with the National University of Singapore’s Department of Real Estate (DRE) to develop a Real Estate Sentiment Index (RESI), and it shows a lower reading for the second quarter of this year than for the first quarter.

Developers and industry players continue to express positive sentiments but expect market conditions to be less robust, Redas and DRE said.

More respondents were still positive (rather than negative) on the overall performance of the prime and suburban private residential markets over the next six months but the consensus as indicated by net balances weakened in the second quarter compared with the first quarter.

On the other hand, the net balance for offices improved substantially, in tandem with improving sentiment in this segment in April-June.

The survey also found that 51 per cent of developers polled for Q2 expect price growth for new residential launches, down from 85 per cent in Q1.

‘The partnership between NUS and Redas has ensured academic rigour and added credibility to the new index.’ - Redas CEO Steven Choo

About 68 per cent of developers surveyed in Q2 expect more units to be launched over the next six months, down from 83 per cent in the Jan-March period.

The findings of the survey will be officially released this morning at the Redas Property Prospects Update 2010 seminar at Orchard Hotel.

Some market watchers welcomed Redas efforts in coming up with an objective method of gauging the confidence level of senior executives of property developers - and making it public. ‘It’s good to hear from the horse’s mouth,’ said DTZ executive director Ong Choon Fah.

Redas CEO Steven Choo noted that ‘while business expectation surveys are available for the manufacturing and service industries, there is currently no indicator specifically tracking sentiment in the fast-paced real estate market of Singapore’.

Some industry watchers also pointed to the refreshing change at Redas. ‘Previously, something like this, showing a slowdown in sentiment, would have been considered extremely sensitive and developers may have tried to hide it. Now they’re more open about it,’ said an observer.

Crouchen reisling

2010-07-17T10:32:00.000+08:00

Finally I found a white that my wife likes- crouchen reisling brown brothers

Sweet pale yellow with aromas of ripe pear, tropical fruits and citrus. Clean and lively on the palette with some residual sweetness which is balanced by the reisling's crisp acidity

- Posted using BlogPress from my iPhone

2010-07-05T22:42:00.002+08:00

Spotted in today's papers:
Bangladesh has the lowest minimum wages per annum at US $25.

Melbourne 4 to 10 April

2010-07-03T00:09:00.000+08:00

Went to visit 001 since he moved into his new house 2 yrs ago. When I reached the airport was plesantly surprised to see Mr K at the coach stand waiting for me. Didnt even know he was coming from Sydney too!

Melbourne to me was a diluted version of Europe and cheaper. Trams, horses, cyclists, buses, cars pedestrians interlink like clockwork. The age old tram system is still a working system and works well.

Walking past the many bluestone buildings were a delight. The old buidings here were made of bluestone which was in abundance while those in Sydney were made of sandstone which was local there. The bluestone was bluish black in color and made the buildings gothic looking with a touch a of romantism.

The cafe / coffee culture is still very much alive, with tastefully designed cafes each its disctinct character. Most of them belong to the class of casual chic where old is mixed with new and put together very nicely. Behind each seemingly random combination is a careful consideration of how people eat, dine and live. The latte cup is the same size every cafe you step into, as if like a golden rule not to be broken: a smaller small cuppa of glass served on a white porcelian saucer. Starbucks does not survive here. And yes the coffee is fantastic.

Along the way I see construction workers having a sandwich during lunch and mucking around. Typical Aussies, boisterous, blokish and a fun loving bunch. Their police seargants also looks much better and smarter than ours.

At nights we will get a bottle of red from the bottle shops and watch Aussie TV with thier distinctive Aussie humor or just talk about old times. Just like the good old student days.

One of the most livable cities in the world what else can I say? Just a few small touches that I really appreciate and I wish Singapore will do:

-All the cafes serve unlimited supply of free water that you can help yourself to.
-In the city and tram stops, there are guides that show directions and help you find your way around. They will give you a free map. These people are usually retirees with a sense of passion to make Melbourne user friendly.
-Post Easter is not a bad time to go, with post Easter sales and before it turns really cold.
-The tourist tram is a good way to go around the city for first timers. They stop at all the must see stops.

A big thanks to 001 for bringing me around the hidden and undiscovered areas of Melbourne as well as the F&B institutions, and this is what Melbourne is all about.

Private home prices in Singapore overtake 1996 peak

2010-07-02T21:56:00.000+08:00

PRIVATE home prices in Singapore are now at their highest level ever, eclipsing even the previous 1996 peak.

Official estimates show prices rose a higher-than-expected 5.2 per cent in the second quarter after a 5.6 per cent jump in the first. That means private home prices have risen 11.1 per cent so far this year.

Prices, now 1.5 per cent above the 1996 high, are expected to continue to edge up this year given the positive economic outlook, property experts forecast.

But the rises should moderate as the market is no longer feverish, having slowed to a more sustainable level with many more sites on the way, they said.

CB Richard Ellis' executive director, residential, Mr Joseph Tan, said the ample supply of residential land to be released by the Government will ensure a more stable supply in the longer term. 'As sales momentum becomes less frenzied, home prices will stabilise,' he said.

The Government has lined up a record amount of land for sale in the second half of the year and yesterday released three sites for sale.

One is an executive condominium site in Jurong West which can yield about 460 units. The other two sites are in Miltonia Close and Bedok Town Centre. Together, they can yield about 1,300 homes.

Other data out yesterday showed that Housing Board resale prices rose 3.8 per cent to a new record high in the same period, giving strong support to 'mass market' private homes - generally the less expensive private homes. This came after HDB this week offered 2,696 build-to-order flats in its largest ever single launch.

In the private mass market, buyers such as HDB upgraders are increasingly reluctant to pay sky-high prices, noted Colliers International's director of research and advisory, Ms Tay Huey Ying.

June 2010 Singapore

2010-07-02T13:30:00.002+08:00

This June is weird. Its been raining and flooding, raining and flooding.

Millionaire

2010-06-24T09:49:00.000+08:00

From Straits Times today :

A millionaire is defined as a person with net assets of at least 1 million dollars, excluding his residence and everyday possessions.

Sabah: 15 to 18 June 2010

2010-06-23T18:42:00.001+08:00

This trip was memorable, memorable because there were many firsts for me: this the first time I set foot on East Malaysian soil on the mystical Borneo rainforests, it’s the first time I seen a peak which is one of the tallest in South East Asia, the first time I saw and drank from a natural waterfall, the first time I saw such a beautiful sunset, the first time I saw tea and vegetables being grown in the highlands and the first time I can call a retreat a real retreat.

I didn’t think about work, didn’t do anything, it was just fellowship and enjoying God’s creations. The speaker was a wonderful man, and he placed in my mind a set of radical perspectives I never thought so much about.

I am thankful for the much needed break and the life lessons learnt. Too bad I didn’t get to see the famous icons of Sabah: the proboscis monkey, the rafflesia flower, though I managed to have a taste of the Sabah choi and the pinkkish local buns.

15 June (Tues)

Arrive at Sabah resort late lunch
Free time in afternoon
Dinner and evening worship and lesson

16 June
Morning devotion
Breakfast and morning worship and lesson
Lunch and free time for afternoon
Dinner and evening worship and lesson

17 June
Morning devotion and Breakfast
Check out to Mount K
Stop by village
Arrive Mount K for lunch
To Tree top walk and waterfall in afternoon
Barbecue Dinner at night

18 June (Fri)
Breakfast and Check out
To 1 Borneo for shopping (lunch)
To airport back to Singapore

Australian Education system

2010-06-23T09:06:00.001+08:00

Was catching up with a friend yesterday from Perth. Was good to see him after so long. He has got 2 beautiful mixed blood kids. We touched on the educations systems in Singapore and Australia and somehow I felt that our children here are missing out on something. Government schools in Australia are free (no need to even pay back) but private schools are not (est 15 000 a year). His only lament is that government school kids are more prone to drugs and sexual abuse and this problem is very real to him.

However there was something similar in the 2 systems: Good schools are found in good suburbs and if you are not staying near the good suburbs I don’t think you are allowed to go to those schools. There is a radius of control.

2010-05-27T00:25:00.000+08:00

24 May
Afternoon
Dad, Mum, me went to pick Mammy up. Met Olivia and Tiff at airport.
Went home to unload and went to heng hwa restaurant at Towner road for dinner

25 May
Afternoon
Lydia and Mammy went to Lydia office to distribute roast goose
Went to vivo city after that for lunch
Dinner at Sherry's house with Mammy, Lydia and Mum and Dad 4.30pm to 9pm

26 May
Morning
Went to market to buy water chestnuts to make ma ti gou
Afternoon
Tiffany and Olivia came to our house to have lunch yong tou fu
Dad came to pick up Mammy Lydia Tiff to Ah Ma house to distribute ma ti gou
Dad, Tiff, Mammy and Lydia stayed in Ah Ma house for a while
Dad sent them to the Flyer (discounted tickets)
Lydia and Mammy met Eleanor, Clare, Olivia and Tiff at Esplanade for dinner. Elanor and gang treated.
They had Hagan Dass

Jose Mourinhno

2010-05-23T22:09:00.000+08:00

After 40 something years, Inter Milan have won the Champions leauge this year, and it was all made possible by the Special One: Jose Mourinhno.

There is certainly something different about such legends. The way they speak, their confidence, and that X factor..I used to think that he was just an arrogant little European but everwhere he goes and everything he touches turns into gold..something here worth a second look for sure.

Bangkok Burns 19 May 2010

2010-05-22T00:03:00.001+08:00

19 May: Bangkok Burns. What are they doing it for you ask?

Indonesia

2010-05-21T23:06:00.002+08:00

Now that I am leaving my Indonesia projects, I look back at the country and my experiences…

Jakarta alone has a population of 18 million people. When I first arrived for the first time, it was what I had expected to see. Jams, pushcart hawkers on the streets, people carrying babies walking among the cars asking for money. People laid out their wares on the pavements anyway they want. The sky was always grey. I was told not to drink any water that was not bottled, even from restaurants and hotels. Even when you brush your teeth in the hotel, it is advisable not to use the water from the tap mixer to gargle, especially if you have a week stomach like me. Always try to use bottled water to gargle. (I forgot this one time and paid dearly in medical bills.)

The threat of terrorism is real, after all the hotel bombings. So you see security guards everywhere, in hotels, shopping centres. Before you enter each building, they scan you with metal detectors. Labour is cheap. There are always security guards, carpark attendants everywhere you go. Some of them are real occupations, some of them are just deployed by the mafia to ‘invent’ their own jobs and collect tips. For instance, in a multistory carpark where you can find your own lot by reading the signs, some ‘attendant’ pops up from nowhere and guides you to a lot and after that you MUST tip. Some people even station themselves on the roads at the difficult U turns to guide you after which you gotta tip. A local security guard (which is probably the most common occupation) I was told starts at 100USD a month in salary. Most of the locals can never afford to travel out of the country, and seldom eat at restaurants. It has the largest Muslim population in the world.

Jakarta’s tourists numbers are almost zero. Nobody goes there for recreation since the 98 anti Chinese riots. Hotels business come from business people and expats. I don’t see tourist buses like I see in Bangkok. One of the greatest shame is that they do not have a city train system (MRT).

Now the Indo Chinese. The more I visit this country, the more stories I hear and the more I think they are legend. Haha. Heard there is about only about 4% of Chinese in Jakarta, but yet they are one of the main drivers of the economy. There are entire shopping centers built just for their leisure. I stepped into 1 for the first time and all the shoppers are Chinese looking. Haha Of course there are also the low end shopping centres built for locals. I went into one the other day to buy soap and the moment I stepped in everyone inside were local Indos, and they are stared at me like I was an alien. I can never stop being amazed at how our business partners have been telling me their stories of how they made thier money. The way their mind thinks is really different and thier determination is admirable.

Of course not every Chinese is rich. There are also the mid income ones and the ones that lost their business. Actually why the Chinese choose to do business started out of the need to survival. Being a muslim country, the opportunities for education and government jobs naturally went to the local Indos first. The Chinese had to think of another way to survive and their business instincts kicked in. For the Chinese who did well, the trend was for them to send their children to Singapore to study their primary to high school and subsequently to the western countries for University. Then they are expected to come back to help their parents in their family business. The Indo Chinese are very brand conscious. They chase brands and the latest models which is why Singapore is thier favourite shopping destination on the weekends.

In my service apartment I am always impressed by how they staff always seem to smile at you and also at the malls, eg the cashier. I always thought they they were trained to smile in all circumstances but my Jakarta colleauge said that its in them. And I thought to myself, sigh how nice it would be if service staff in Singapore actually smile genuinely or even smile at all.

In the day it can be quite hot and dusty, but in the night the weather is actually cooler than Singapore and it is nice to walk along the streets. The people asking for money and the street hawkers do not actually haress you and my Jakarta colleauge mentioned that he feels safer than in KL. He also felt that the people are more gentle and friendly than Thais, which is well, arguable la. Being chaffuered from place to place is common here especially for the Chinese people. And you get saluted everywhere you go haha by the security guards.

The big C is a way of life here. But this is a sensitive subject and I shall not talk about it, otherwise next time I go to Jakarta I may be escorted away by the Army and never seen again. Haha

But Jakarta is changing. It is becoming more and more open minded about the economy, about investments. In fact in some ways I feel the government is more open than China, and it does not rule with an iron hand. It is in fact a democracy. It is still a young nation with great potential and natural resources.

Of myths and statistics

2010-05-21T22:10:00.001+08:00

I am beginning to take a keen interest into statistics, as they tell the real picture of the story. For example, in SIngapore you see night clubs springing up everywhere and when you go to Clarke Quay, you think the whole of SIngapore is in Clarke Quay. You will think Singapore has become a party town.

However It was reported in todays papers that only an estimated amount of 5% of Singapore's population club. That is about 250 000 people. Not much considering the number of night clubs springing up here and there. That may explain why they close down as fast....

Even Zouk, the institution have lamented: Profit margins are diminishing as people go to other places in the night before they go to Zouk, which makes it a secondary desination instead of the first. People will then spend less as they will go there maybe to chill out or wind down as they have spent thier money at the other clubs. Also the ones that support Zouk are the regulars. The younger generation has no loyalty. They hop from place to place. It is a wonder how Zouk has lasted 2 decades, thanks to my generation!

3 in 4 phones sold in Singapore are smart phones

2010-05-21T10:34:00.000+08:00

I have resisted for the longest time but I am beginning to find that a smart phone (or I Phone ) is becoming more and more of a necessity.

Hmnnn What will I buy it for? What will I use it for that my current phone doesn’t have?

-online bible!
-google while you are outside to check restaurants...
-the convenience of being able to reply work emails on the spot, not because I want to be tie my life to emails, but rather many times you think of something while not at work and you have nothing to write down or forget later when you get to office. With smart phone, you are able to issue instructions on the spot, and cover yourself from not forgetting to write that email.
-With I phone you can download a proper to do list and calendar planner and set reminders. And you can write down anywhere you are.
-the syncrhonisation function is good to serve as backup, where you can back up everything on your phone, not just your contact list like my current phone (in case you lose your phone)
-the 3G maps……super updated!
-Financial market news-these days the market really affects what we do and how we plan our future….its interesting how you learn to be your own Guru from reading all those news.

Don’t really need the apps, and I am not really a songs person, maybe facebooking to keep in touch with friends that’s it!

So, instead of carrying my Bible, street directory, laptop, notebook out, I just carry an I Phone.

Good on you Steve! Where will the world be without you...haha

Brain Drain

2010-05-20T18:32:00.008+08:00

I has such an interesting experience at the neurologist today I need to write. Had a hard knock on the fore head a month ago and since then have been feeling light headed and difficulty remembering words. Memory ok. During the knock I saw a bright flash in my brain. A week after that I went to see the general practitioner and he told me he is quite sure I don’t have a blood clot, because I am still alive. Apparently if you knock your head seriously, there is a 24 hour window period where if there is a blood clot the person would be fall into unconsiousness. After that 24 hr period it is quite safe that there is no blood clot and no immediate danger. (So if you have a head bang and if you don’t feel well, you should see a doctor straight away!) The bright flash he explained could be due to a shock on the optic and nerve cells, which transmit sensivity light and vision to my brain. However this could have caused me near blindess, and my vision is relatively ok after the incident.

However there is still the possibility of a delayed blood clot, which is why I decided to see a neuro. Cut the story short, I went into his room. He made me do a series of funny actions and faces that I thought he was making fun of me. Hehe. He asked me if I was unconscious after the head bang and I said no. So He sent me down to do a CT scan. At the CT room, there were these strange machines like a big metal ring and a platform through it for me to lie in. I lied down closed my eyes and I would hear the platform moving through the big ring. The noises that were made remind me of a sci fi movie, like putting me through a time machine (loud wailing noises). Within 5 minutes its all done and on my way out I passed by the MRI suite which was designed like a 5 star hotel set up. The MRI machines looked almost like beds haha. The cost is of course at least double.

Anyway I went back up to the consultation room and the report was sent by computer to the specialist’s. Within 10 minutes he was already reading my report and showe d me my brain. Ok no blood clot.

He mentioned my condition was probably just a very hard knock and not even a concussion and its fairly common to see a flash on impact. So brain wise ok, but my seemingly light headness and word pronounciation can be further verified by a Neuro Phsycologist which will verify and legitimize my day to day normality to perform at work.

And he briefly explained to me the difference between a CT and MRI. Basically MRI can see more stuff. He also mentioned for head injuried time is the essence to recover. There are no known vitamins or medicine to take to improve or boost your brain cells. Haha Also there is this website that clearly illustrates brains trauma.

http://www.braininjury.com/injured.html

Below I attach a schedule of price difference if I has seen a government polyclinic instead. It is cheaper but has a longer waiting time!

Short Selling

2010-05-19T15:53:00.001+08:00

What is short selling?

short selling, is basically, selling stocks you dont have, and buying them back, within a short period. anticipating a rapid drop (before the transaction is settled, usually 3 days)

lets say, a stock is worth $10 a professional investor thinks the stock wil drop further. so he will sell 1000 $10 shares (worth $10'000 he does not have. this will make him go short 1000 stocks. (like being in debt)
2 days later, the stock has indeed dropped, to $90, the investor decides to buy back the stocks he sold before the stockexhange forces him to cough up the shares he doesnt have. he buys 1000 stocks at $9'000 and closes his short position.
net profit: $10'000 - $9'000 = $1'000
so where does this money come from? from the investor that bought the stocks from this professional investor. now why is this unfair? because not everyone can have a short position, only institutional investors can. so instotutionals unrightfully take the money from private investors.

Then why the difference in the terms 'naked short selling' and 'short selling'?
being naked means you have no clothes on. Likewise a naked short means selling shares without having any of those shares, a true short sale. On the other hand you could own the shares but sell them withe intention of buying them back if/when they go down. This would be a covered short, which is not really a short.

Why does naked short selling drive the market down?
Two ways:

1. increases supply. w.o. naked shorting, you can only short as many shares as are already issued by the company. by naked shorting, there is no limit.

2. creates an artificial market flurry of selling activity. most people who own the stock of most companies, don't want to sell just because the market moved a little. but naked shorters are by definition speculators, so there is not only an increase in the number of THINGs that could be sold (stok plus naked shorsell orders) but an increase in the actual number of SALES. This is a subtle distinction.

Posting

2010-05-19T09:02:00.000+08:00

As I arrange the details of my move to Shanghai, I realised that Shanghai HR is not so forthcoming with volunteering information. Only when I ask the right thing then I will get the right info out and in bits and pieces. Short of me questioning every single term and condition. Maybe thats their strategy- Answer only when asked so the imperfections of the package doesnt get around? Of course no overseas package is perfect and there are bound to be imperfections. I had to ask around and thank God for somehow using people around me to share information with me.

I wonder whats the biggie for withholding info. I had already said yes to the posting, so people should be open with all details. Sigh so typical Singaporean.

Dow's plunge may be sign of bad times ahead

2010-05-17T09:27:00.002+08:00

17 May 2010 by Goh Eng Yeow
IT IS easy to dismiss the recent mayhem on Wall Street when the Dow Jones Industrial Average plunged by almost 1,000 points in a few minutes as just one more technical error.

Make no mistake, this could also be a signal that something more serious is amiss.
Sure, the odd computer could have caused the mess after a 'fat finger error' - traders' lingo for someone pushing the wrong button.
Initial reports suggested an anonymous dealer pressed a 'b' for billion instead of an 'm' for million in a sell order.

But those familiar with the operations of a stock dealing room will know that orders are not executed in this manner. To ensure that a rogue trader does not break the bank, limits are imposed on how much a dealer can buy or sell each time.
Any trading limits he is given will certainly not amount to billions of dollars - not even among large global lenders used to handling enormous sums every day.

Instead, the plunge reflects extreme nervousness among traders as they react to a host of crises - from the European debt crisis to the United States Securities and Exchange Commission's allegations against Goldman Sachs for securities fraud.
Some traders also observe that this is not the first time that a terrifying plunge by the Dow presaged more ominous events ahead.
Take early 2007. Just as investors were looking forward to another bumper year, the Dow suddenly plummeted by 416.02 points on Feb 27.

And like the heart-thumping plunge more than a week ago, the dive in 2007 was blamed on a computer glitch.
It turned out to be a harbinger of ill-tidings, forewarning the world of the sub-prime crisis in the US that was then a distant threat on the horizon.

With this background in mind, how should we interpret the Dow's latest roller-coaster ride?
Those who argue that it is business as usual rest their case on the strong quarterly corporate earnings that banks and major corporations have been announcing.
Surely this points the way to a smooth recovery ahead, as the world economy regains its poise after being hobbled by the global financial crisis over the past two years.

They observe that another major market concern had been tackled last week as well - a €750 billion (S$1.3 trillion) 'shock and awe' bailout plan by the European Union to save Europe from attacks by speculators.
But bearish investors argue that while there is an air of prosperity here as Singapore recovers from the global financial crisis, traders are becoming jittery over Wall Street's wild mood swings as it reacts to each twist and turn in the European debt crisis.

It comes as no consolation to find Wall Street registering another triple-digit loss last Friday, as the beguiling market calm following the announcement of the huge bailout was shattered by a fresh attack on the euro.
Traders fear that the interbank market may freeze up again as European banks grow suspicious of each other's debt exposure to countries like Greece, and stop lending altogether.

There is also the problem festering in our backyard - the overheating property market in China and the collateral damage this might inflict on mainland banks' balance sheets.
To shore up their balance sheets, Chinese lenders are making huge cash calls, unnerving investors as the liquidity is sucked out from the region.
Another nightmare looming is the prospect of rising interest rates in the months ahead - and the negative impact this may have on stock prices.

For the past 15 months, the global stock market rally has been supported by a huge cushion of liquidity provided by the US central bank as it trimmed interest rates to almost zero to fight recession.

But jitters in the interbank market as banks grow suspicious of each other, as well as an urgent need to tackle the inflationary pressure sparked by buoyant commodity prices and soaring property prices, may well push interest rates sharply higher.

So it is not surprising to find stock prices stuck in a rut and trading activity falling as investors ponder their next move. Each time, when the market convinces itself that it is back to business as usual, something comes along to rock it out of its complacency.
One thing is for sure: Don't take things for granted. There are likely to be more wild swings in the stock market ahead. Stay posted.

GDP

2010-05-16T23:13:00.000+08:00

Sat's newspapers brought out the arguable issue that Singapore is a First World economy that pays Third World wages. Most people interviewed seemed to think its true. To put it simply, wages are higher in HongKong, Japan, etc for an apple to apple comparison of the same profession and yrs of experience. Why is this so? Anaylists and economists point out that once again, it has got to do with our survival as a small country with no natural resources. GDP apparently consists of 3 main components: Wages, Profits, Taxes. In order to attract multinationals to Singapore, a large chunk of the profits margins are redirected back to the multinationals. This one of the main reasons why they will choose Singapore as a base and not a cheaper place like Vietnam or Malaysia, among other factors like stability and quality of workers of course. I worry for Singapore in the next 30 years, as other developing countries catch up and their workers get better trained and yet still remain cheaper than Singapore workers.

No wonder our cost of living seems high. In a recent survey, it is 24th most expensive in the world above HongKong and Sydney????

Faith

2010-05-10T16:36:00.002+08:00

"Faith is to believe what you do not see; the reward of this faith is you see what u believe"

Australia tightens rules for foreign property buyers

2010-04-27T10:11:00.006+08:00

Apr 25, 2010

Australia tightens rules for foreign property buyers
Sydney - Australia clamped down on foreigners buying property yesterday, after complaints that a rapid influx of Asian money had helped make its housing among the most expensive in the world.
The government reimposed tough rules relaxed in 2008 that say temporary residents need permission to buy homes and must sell when they leave the country, while foreigners investing from abroad can buy only new properties.
The rules are backed by stiff new penalties including compulsory sell orders, as well as expanded monitoring and a crackdown on real estate agents who help foreigners flout the rules.
They follow growing disquiet that ordinary Australians are being priced out of the market after a decade-long property boom that has accelerated over the past year.
'We want to make sure that Australian working families are not being priced out of their own family homes. That is why we have acted in the way in which we have done,' said Prime Minister Kevin Rudd.
'We want to make sure that foreign speculators are not going to force up prices for Australians seeking to buy their own home, buy their first home and we think this is the right course of action.'
Property experts in Singapore say that the rules for temporary residents will affect the market Down Under.

Mrs Doris Tan, managing director of Singapore's DST International Property Services, said that, with new rules in place, investors might turn to other places like London since the pound sterling is weak.'This new ruling will definitely result in a drop of property prices in Australia,' she said.
House prices have been red-hot in Australia's major cities, especially Sydney and Melbourne and also Perth, centre of the country's booming minerals exports to Asia.

Victoria state, whose capital is Melbourne, smashed the billion-dollar weekly sales barrier in March, while Rupert Murdoch's son Lachlan landed a record US$23 million (S$31.5 million) property at a Sydney auction in November.

An international survey released in January found Australia's housing was the least affordable among six advanced nations including the United States, Britain, Canada, New Zealand and Ireland.
The Australian Treasury has been reportedly investigating 50 cases of suspicious residential property purchases by foreigners in Melbourne, contributing to rising property prices.
Under reinstated regulations, temporary residents and foreign students will be screened to determine if they will be allowed to purchase a property.
Foreign residents without temporary visas cannot buy existing houses, and may buy property only if it adds to the housing stock. If buying land, they must build within two years or sell it to stop 'land banking'.Travel details and ownership data will be matched to catch cheats, and the public will have a new hotline to report foreigners they suspect of breaches.

Those leaving Australia must sell their properties and the government will claw back any capital gains made by foreign investors who breach the arrangements. Real estate agents will face new penalties under civil law.
This rule, DST's Mrs Tan said, would have a great impact on people whose children study in Australia. 'Asian parents will still buy the property for their children, to have a home away from home. Parents will now treat the money as money spent on rent and they must be prepared to sell when their children leave the country,' she said.

Australia's opposition has said foreign investors are outbidding locals at house auctions, while media reports refer to cashed-up Asian buyers snapping up homes for their children studying in the country. However experts also blame a lack of housing supply and say government handouts, including grants for first-time buyers, have inflated prices.

wise words

2010-04-14T13:47:00.000+08:00

Investment is not about being smart or speculative, its about having the temparament and discipline

Indonesia

2010-04-01T10:57:00.004+08:00

He noted that Indonesia was Singapore's fifth- largest trading partner, with total bilateral trade of $58.5 billion, and that the two countries had consistently been among each other's top trading and investment partners.

According to the Indonesia Investment Coordinating Board (BKPM), Singapore was Indonesia's top source of realised investment, accounting for almost US$4.4 billion (S$6 billion) last year.Mr Lim suggested that Singapore companies consider casting their nets wider when looking to invest in the country.

'While Singapore's investments have traditionally flowed into Jakarta and the Batam-Bintan region, companies have also recognised the potential of the larger Indonesian market and have invested in other regions of Indonesia in recent years,' he said.

He cited two companies that have successfully done so - Keppel Land, which has developed a retail mall in Surabaya, and Killiney Kopitiam, which runs several outlets in Medan.Each of Indonesia's regions, he added, offered different business opportunities for companies here.

Urbanised cities such as Jakarta, Surabaya and Bandung are ideal for food and beverage, retail, telecommunications, banking, real estate, and logistics industries.And resource-rich cities such as Balikpapan and Makassar have growth potential for downstream products and services, including engineering, logistics, processing, hospitality and urban infrastructure.

Indonesia may let foreigners own property

2010-04-01T09:35:00.001+08:00

Apr 1, 2010

Indonesia may let foreigners own property (Move to boost foreign investment in S-E Asia's biggest economy)
By Salim Osman, Indonesia Correspondent
JAKARTA: Foreigners may be allowed to own apartments and even commercial property in Indonesia under a revised rule expected by the third quarter of this year, Indonesia's investment chief said yesterday.

The move is likely to draw investors into South-east Asia's biggest economy and increase the flow of foreign capital into the country.'The government is committed to continuously review policies to make it easier to invest in Indonesia,' said Mr Gita Wirjawan, chairman of the National Investment Coordinating Board, at a forum in Singapore yesterday.

'I am optimistic that once we can be seen to be taking steps in the right direction, we'll be able to reach a 15 per cent increase in foreign investment over last year's US$14 billion (S$19.6 billion).'His remarks were welcomed by property market watchers and expatriates in Jakarta. It was the clearest indication yet that the government was relaxing the rules on foreign ownership of property in the country, they said.

The move also comes at a time when improving fiscal stability could earn Indonesia an investment grade sovereign rating within a few years, according to Bloomberg News.
At present, foreigners can only buy property in Indonesia through a nominee or local Indonesian firm, putting the buyer at risk.

Foreign companies are not allowed to own property. They only have the right to use land for a period of 25 years, which is renewable, and the right to lease buildings.
'The thinking is, anything above a certain floor, you can buy... anything closer to the ground has political sensitivity,' Mr Wirjawan said in an interview with Reuters.

Analyst Willson Kalip, the country head of Knight Frank Indonesia, told The Straits Times that the move to invite foreign participation in the property market will be seen as a positive gesture. The property market has always been geared to meet domestic demand, he said.

'It will be a boost as already foreign investors from China, Singapore and Malaysia have shown interest in buying office space for their longer-term investments,' he added.
Long-term resident Michael Tan, a Malaysian, told The Straits Times that the new rules on property ownership would be an incentive for expatriates like him who have always looked forward to owning their own homes in Indonesia.

Foreign companies like his can own property, but the ownership is considered as hak pakai - the right of use - or hak sewa bangunan - the right of a building lease. 'What we need is hak milik, or right to own,' said Mr Tan.
Asian residential property prices have been booming on strong investor interest and low interest rates, leading to fears of bubbles in some countries.
Mr Wirjawan said Jakarta condominium prices were undervalued compared to Singapore and Vietnam's Ho Chi Minh City.
'Investors are optimistic about Indonesia relative to, say, Thailand and Malaysia,' said Mr Colin Tan, director of research and consultancy at Chesterton Suntec, a real estate advisory firm, according to Reuters.

'If you open a new channel for investments, some money will definitely come in... It can only be good for Indonesia's property market.'

conversation with boss number 4

2010-03-27T23:18:00.004+08:00

I tried to tender my resignation yesterday. This was an extract of how the conversation went more or less (not in the exact words): It was so ridiculous I think I can remember this forever....What a classic!

LG: I would like to transfer to China office (ie I do not wish to work for you directly anymore)

Boss: Oh We only send the best people there. I dont think you are up to mark yet. So I like to keep you here to train you. You still got a bit to learn. If you go to China, its a lot worse than here. Not sure if you can handle..

LG: I know but I still like to try. If I cant get to go China in this company, I may have to look for alterative options to get me there.

Boss: (getting the point and getting agitated) ya then maybe you should. But please let me know your decision ASAP, because there are others who want your current position. (???) However I would like you to spend the weekend to cool down and rethink your decision..

WOM guide

2010-03-27T22:40:00.002+08:00

If you are lost as to where to go for food in HongKong, heres a great website!

http://www.womguide.com/hot-features/all-about/dai-pai-dongs-the-future

Pear Salad

2010-03-27T22:36:00.000+08:00

Real Simple!

Pear (soaked in salt or white wine or vinigerrette)
Rocket
Pine (mixed with Honey)
Baby Spinach
Cos

Gyms in China

2010-03-15T16:59:00.004+08:00

Saw this programme the other say called Sun Tzi: Art of Business

This guy trying to improve his gym business in China, Shanghai or something. Not doing so well. You would think that in a big city with expatriates gyms will be hot....Apparently indoor gyms(eg California sort) are not popular with the Chinese. Chinese girls have this fear that gymmming will make you big.....

Probably bad market timing and he gotta hang in there for a while before the Chinese change their mindset

2010-03-15T16:58:00.001+08:00

'Love the sinner but hate the sin'

and you say air pollution in HK is bad?

2010-03-15T09:10:00.002+08:00

Expatriates choosing between HK and Singapore to work often quote HK as having bad air pollution.

What about Singapore? For the past few weeks in Feb and March, I have been waking up and sleeping to a choking burning smell in the air. It gets so bad that I cannot sleep without aircon.

One less brownie point for Singapore!

Is Jack Neo to be condemmed?

2010-03-14T22:58:00.008+08:00

People do wrong all the time, like telling lies or changing the facts to get what they want, especially in the office environment. They often reassure themselves and revalidate themselves by saying 'as long as I dont murder and kill' its ok. I used to think like this too until someone told me that God's expectations are very high. To him a wrong is a wrong, 'telling lies' are in the same leauge as 'murder' to Him.

Its really hard to live up to His expectations!To put it in another perspective, take the recent Jack Neo affair scandal. Here we have a married celebrity director whose affair with a young model was revealed. Public went into a hate frenzy, hurling abuse and literally rotten tomatoes at him. Well are those who prosecuted him really angels who have done no wrong themselves? As long as you have told a lie before you have sinned and that sin is no lesser than Jack's. Jesus came across a prostitute who was being stonned by villagers. He said 'Let those who have not sinned throw the first stone', and the villagers were dumbfounded.

Are Christians do gooders

2010-03-10T17:23:00.003+08:00

People often see Christians as do-gooders who are not supposed to do any wrong. If they read through every single page of the Bible, they may find that a Christian's behaviour is not so simple. They are also taught to protect themselves. Thus Jesus tells the 12 disciples:

'I am sending you out like sheep among wolves. Therefore be as shrewd as snakes and as innocent as doves'

Which is why people tend to misunderstand when Christians make small 'unChristian like' actions which may not be in line with their impressions, such as swearing or agressive behaviour. The thing is, Christians are also human and are subject to the different emotions of fear, anger, laughter, joy. What is more important is the big picture of how Christians try to lead their lives with integrity and honour. 1 Peter 2 says:

'Live such good lives among the pagans that, though they accuse you of doing wrong, they may see your good deeds and glorify God on the day he visits us.'

People may misunderstand, but at the end of the road, only God judges.

How to get that bank loan if you are an SME- some tips

2010-03-10T09:10:00.000+08:00

Standard Chartered's SME Banking chief Phang Yew Kiat sets out dos and don'ts

Mr Phang outlined what he termed the 'seven Cs' that go towards making a successful bank loan application.

They comprise the character of the owners, who must be reliable, transparent and have good personal credit histories; the condition that the business is in, including its financial health; its capacity for growth; the commitment of the owners to the business; control over the day-to-day running of the business; the collateral that is being put up for a loan; and whether SME bosses exercise common sense when assessing risks and investment opportunities.

He added that commercial banks would be reassured if an SME had managers working alongside the main boss, and would be particularly impressed by a professional set-up with many talented individuals.

Apart from securing adequate financing, SME bosses needed to attract top talent if they wanted to continue to grow, Mr Phang told The Straits Times.

'Very often, SME owners like to bring in people who listen to them on how to execute instructions. But there comes a point where you won't be able to grow if you don't have talented people who can effectively make decisions when you're not there,' he said.

Conference speaker Wee Chin Chuan, a director at Oriel Management Consulting, said banks tended to steer clear of firms with poorly drafted business plans which failed to articulate how cash was to be generated and repaid.

He pointed out that companies reduced their chances of a loan approval if they flooded multiple banks with applications.

'This gives financial institutions the impression that the company is hungry for money, and could be in trouble... It should only market to suitable financial institutions, and could get advice on this from consultants or the Enterprise Development Centres,' he said.

Why do Singaporeans love mature estates

2010-03-09T11:40:00.003+08:00

Why do Singaporeans choose mature estates to live over new towns? The answer is simple but some policy makers still do not get it.

We want to be close to the city where most of our offices are!

I thought one simple solution to this complex problem would be to decentralise the the city centre and have satellite CBDs in other regional centres like Punggol, Changi. Then people whose offices are near there are likely to move there. We have done it for Tampinese, but few years ago the government suddenly decided to recentralise the CBD again.

Now they are starting to decentralise again to Paya Lebar and Jurong. Well I can only hope they stop changing their minds!

conficting policies?

2010-03-09T11:38:00.000+08:00

(from the Straits Times today)
Long wait for flats a hurdle

I REFER to last Friday's report, 'Baby bonus? Look into costs instead: Chiam', in which opposition MP Chiam See Tong said a more holistic approach is needed to tackle fertility trends.

We are a newly married couple with a combined income of about $6,500. A major obstacle we face is obtaining a flat we can pay for with our Central Provident Fund contributions, which will free us to set aside enough cash to have children.

Only two options are available to us: buying resale or build-to-order (BTO) flats. Resale is out of the question for reasons that are obvious: prohibitive prices. The second option, BTO, is a poor system for couples who want to have children for two reasons:

First, the current generation of university graduates usually start work when they are about 25 years old. By the time they decide to apply for a BTO flat, they will already be in their late 20s or early 30s.

Factor in five more years of waiting before they move into their new home and couples can start having children only when they are in their early to late 30s. How does the Government expect us to have more children if such circumstances force us to start a family so late?

Second, about 95 per cent of BTO flats are allocated to first-timers, mostly newly engaged or married couples. This ensures that most couples will start having children only after they move in, which is about five years later - when they are most likely over 30 years old.

If policymakers want Singaporeans to have more children, they should make housing available to us much earlier, preferably by the time we are 30. The point about the current low rate of fertility is not that my generation does not want to start a family early. It is the difficulty in obtaining a flat that makes it hard for us to start a family early. An earlier start will give us more precious time to plan for a larger family.

The Government can make it easier for us to buy a resale flat by offering the means to offset the cash-over-valuation component, or by increasing our housing grant.

Jason Zheng

heard from the grapevines

2010-03-08T22:43:00.002+08:00

'if you want to know the truth, just ask a kid. Kids dont lie'

'The Toyota has a computer, and like all computers they will fail some day'-Steve Wozniak, Apple co founder and Toyota driver

More on Indo and stuff

2010-03-08T22:06:00.005+08:00

Had a business lunch with some business colleuages and clients from Indonesia today, and learnt more about the country and some business lingo talk, haha:

Indonesia
During the great recession, the country was one of the few in Asia that did not go into recession. One may ask why when most of Indonesia's people are already not so well off, until I was told that the domestic market in Indonesia is huge, which means they do not have to depend on other countries to survive. No wonder people keep telling me that Indonesia has so much potential, if driven in the right direction. The richest man in Indonesia sells clove ciggerates at a couple of dollars per packet. These ciggerattes are not exported aggressively to other countries and mostly serve the locals. Well this an example of the power of the locals. If you can capture just the local market you be a rich man if you do the right business.

The Indonesian government do not often turn their policies around suddenly, unlike China, where one day they can suddenly tighten credit policies and the next day they can let go their policies depending on where the country want to go. The central chinese government can do whatever they want and say and the rest has to follow. In this aspect you can say that the Indo government is more stable than the chinese, and businesses in Indo can flourish with more ease.

How to talk business: Small talk:
-'How are the interest rates these days, mortgage rates, bank saving rates, etc'
-'sweet spot'
-'capture the share of mind'
-'good problem'
-'market accepts it'
-'wear the right hat'
-'agree to disagree'

HDB flats: Facts and Myths

2010-03-06T18:09:00.002+08:00

haha this is worth recording.

NATIONAL Development Minister Mah Bow Tan spent some time in Parliament yesterday addressing popular misconceptions about Singapore's public housing market.

MYTH: There are not enough HDB flats to meet demand.
HIS RESPONSE:
The HDB released 13,500 new flats last year and will release another 12,000 or more this year. This is more than the total number of flats in Clementi or Jurong East (about 23,000 flats each).
The massive oversubscription rates for new flats are misleading. That is because half the number of flat applicants choose not to book a flat when invited to do so. Many say this is because they could not get a flat of their choice, yet in recent selection exercises, one-third rejected flats on the first day of selection, when all the flats were available.
Some first-time buyers have complained that they have tried repeatedly to get a flat to no avail. But when the HDB reviewed 477 such cases in the last six months, it found only 29 appeals (6 per cent) were genuine.
CASE STUDY: Mr C complained about his lack of success in getting a flat. The HDB's checks found that he had submitted four applications, three of which were in highly popular mature estates. In six months, he consecutively rejected three offers of flats: one offer of 121 flats in Punggol/Sengkang because he had been 'targeting a unit in Buangkok'; another offer of 143 flats in Punggol because 'the units left are facing the mosque'; and a third offer of 14 flats in Serangoon, Yishun, Ang Mo Kio, Tampines and Woodlands because these were not his 'choice' flats.

MYTH: HDB flats are unaffordable.
HIS RESPONSE:
On top of the CPF Housing Grant of $30,000 or $40,000, there is an Additional Housing Grant (AHG) for lower-income families of up to $40,000. As of Jan 31, the Government disbursed more than $330 million in AHG to more than 20,000 families.
The median house price is 5.8 times the median household income in Singapore. In comparison, the ratio is 7.1 in London and 19.8 in Hong Kong.
The average mortgage payment for new flats in non-mature estates sold in 2009 was 22 per cent of monthly household income. This is well below the affordability benchmark of 30 per cent to 35 per cent.
Four out of five Singaporean new flat buyers service their housing loans from CPF savings, without any cash payment.
CASE STUDY: Mr and Mrs S, with a $4,500 monthly income, bought a four-room flat in Punggol for $297,900. They received $10,000 in grants and took a concessionary loan of $268,100 (90 per cent of the price) from the HDB. The couple's monthly instalment is $1,073, or 24 per cent of their income. They can use $1,035 from the CPF to service the mortgage and end up paying only $38 monthly in cash.

MYTH: PRs push up prices.
HIS RESPONSE:
The median cash-over-valuation (COV) paid by permanent residents have been the same as the median COV nationwide for the last two quarters.
Cases of PRs paying high COV are the exception. Of 37,205 resale transactions in 2009, 58 cases had COV exceeding $70,000. Of this, only eight (14 per cent) involved PRs.
MYTH: Private property owners push up prices.
HIS RESPONSE:
Their number is not large enough to push up prices. Of the 58 resale transactions last year with COV exceeding $70,000, only 11 cases (19 per cent) involved private property owners.

MYTH: Subletting of HDB flats is rampant.
HIS RESPONSE:
Of the 682,000 flats that have fulfilled current Minimum Occupation Period requirements, only 3 per cent are sublet. This suggests most flat owners are buying their flats for occupation, and not rental

Mar 6, 2010 HDB rules change

2010-03-06T18:00:00.002+08:00

RESALE FLATS
Buyer had to occupy the flat for one year or 2.5 years, depending on how it was financed, before being allowed to sell it.
NOW
The minimum occupation period is 3 years for all

HDB CONCESSONARY LOANS
PREVIOUSLY
Only those upgrading to bigger flat could get HDB loan for a second time
NOW
Downgraders buying smaller flats are also entitled to a second loan

QUOTAS FOR PRS
PREVIOUSLY
There were no quotas for non-Malaysian PRs buying flats in HDB blocks and neighbourhoods.
NOW
There is a 5% limit on these PRs in the neighbourhood, and 8% for individual blocks. Buyers must also meet the ethnic quotas.

Being Ng Teng Fong

2010-03-06T11:20:00.003+08:00

Singapore's wealthiest private unlisted developer Ng Teng Fong passed away on 2 Feb 2010. One wonders how such an egnimatic and low profile persona can be where he is today. Some stories about him which diffrentiates him from the rest of us I suppose:

Despite his fortune, he had a reputation for leading a frugal and unostentatious lifestyle. Though he controlled at least a quarter of Singapore's housing market, Ng lived in the same house he'd had for 30 years, and used to take his own lunch on the airplanes.

He could see ahead where others could not: First to go into Orchard Road Singapore, First to go into the old Tsim Sha Tsui Hong Kong

His first foray was in a estate in Serangoon Gardens.???

In fact, Mr Ng was so passionate about his business that he not only worked 18 hours a day, but also reportedly would take a penlight along when he went to the occasional movie with his wife so that he could do his planning and calculations in the dark.

‘If you want to be in the property business, it is not possible to invest in every region.
‘You open the map. If you can’t see the place (because it’s too small) but only the name, that’s the place to invest in…Singapore and Hong Kong are the best examples.’

2010-03-03T12:00:00.000+08:00

According to Forbes (2007),[1] there were only two Indonesians who were listed among world's billionaires. Mikhael Santoso (and family) with the net worth of US$ 1.9 billion was ranked in the 538th, while Robert Budi Hartono (and family) was ranked in the 664th with total net worth of US$ 1.5 billion. Both billionaires made profit from kretek (clove cigarettes) companies through Gudang Garam and Djarum brand names, respectively.

2008 Indonesia's Billionaires
Rank
Name
Net worth (US Dollars)
Age
1
Hartono & family
6.8 Billion
68
2
Eka Tjipta Widjaja & family
3.8 Billion
85
3
Sudono Salim & family
3.04 Billion
93
4
Putra Sampoerna & family
2.42 Billion
60
5
Rachman Halim & family
2 Billion
61
6
Sukanto Tanoto & family
1.43 Billion
58
7
Eddie William Katuari
1.21 Billion
57
8
Prajogo Pangestu
1.2 Billion
57
9
Murdaya poo & family
1.1 Biliion
67
10
Hary Taniesoedibjo & family
1.1 Billion
43
11
Martua Sitorus
1.1 Billion
48
12
Arifin & Hilmi Panigoro
1.05 Billion
63/53
14
Hashim Djojohadikusumo
1.05 Billion
54
15
Peter Sondakh
1 Billion
56
Source: Globe Asia (2008).[3]
[edit] State officials
Below is the list of the names of Indonesia's 12 richest state officials and their net worth.
Name
Title
Wealth
Aburizal Bakrie
Indonesian Coordinating Minister for People's Welfare
$9.2 billion
Murdaya Poo
Member of Indonesian House of Representatives
$1.1 billion
Jusuf Wanandi
Vice-General Secretary of the Golkar Party
$304 million
Jusuf Kalla
Vice President of Indonesia
$145 million
Hamengkubuwono X
Sultan of Yogyakarta
$143 million
Fadel Muhammad
Governor of Gorontalo
$16, 638, 186
Fahmi Idris
Indonesian Minister of Industry
$9, 423, 488
Zaulkifli Nurdin
Governor of Jambi
$6, 543, 216
Bun Bunan EJ Hutapea
Deputy Governor of Bank of Indonesia
$5, 927, 470
Fauzi Bowo
Governor of Jakarta
$4, 410, 803
Meutia F. Hatta
Indonesian State Minister for Women's Empowerment
$4, 271, 758
Ginandjar Kartasasminata
Indonesian Chairman of Regional Parliament
$3, 246, 939
Budiarsa S.
Member of Indonesian House of Representatives
$2, 147, 909
Ratu Atut Chosiyah
Governor of Banten
$1, 978, 968

Vietnam's opportunity for retailers

2010-03-02T12:04:00.002+08:00

According to the consumer survey done by AC Nielsen Vietnam in November 2008, Vietnamese consumers prefer to shop in modern retail centres than traditional markets. Another survey conducted by Saigon Marketing Newspaper in 2008 also reveals that around 50% of the consumers in Ho Chi Minh City are purchasing goods in supermarkets while only 15% buy products in traditional markets. The reason is that modern retail centres are becoming more convenient since they are opened for longer hours, have more diversified products, hygienic space and fixed pricing.

In addition, Vietnam has strong fundamentals. In particular, the dominance of youth in Vietnam, an important driver of economic growth, as well as the retail market. According to the General Statistics Office of Vietnam Census 2009 Report, about 66% of Vietnam’s population is between 15 and 59 years of age. This is its largest spending group and it is expected to fuel the retail market growth.
The rate of urbanisation provides an engine for the retail market. In 2009, 29.6% of the population in Vietnam lived in cities. This works out to close to one million of rural-urban migrants per year. The high rate of urbanisation implies strong long-term demand for all property types including retail.
The number of mid and high income people has also been growing rapidly. As at end December 2009, about 17% of Vietnam’s population makes US$250 to US$435 per month and higher (Savills Retail Market Report 4Q09). The number of mid and high income people has been increasing quickly and it is expected to reach 25% in the next couple of years.

Warren Buffet

2010-03-01T22:25:00.000+08:00

Warren E. Buffett was considered the second-wealthiest person in the United States in the early 2000s and the only one to have made his money through stock investing, as president and chief executive officer of Berkshire Hathaway Holdings, the most expensive and profitable listing on the New York Stock Exchange. Buffett, a deceptively shy and self-effacing man, sustained a reputation as the most astute investor in the United States for half of the twentieth century. He had become a genius at value investing and in the critical discernment of corporate talent and management. Conservative to a fault where money was concerned, he sustained a liberal, almost libertarian image in public life. Investors who followed his lead all became comfortably well off or even extraordinarily wealthy. His every investment was founded on an obligation to his investors to outperform every performance indicator.
Laying the Foundation
Buffett created Berkshire Hathaway in 1969, after shutting down his 13-year-long partnership with a select group of seven recruited investors (from among his family and friends). This group, formed in 1956, put in a total of $105,000, of which only $100 was Buffett's. By 1962 the group's capital had grown to more than $7 million, more than $1 million of which belonged to Buffett. He charged a fee of only 25 percent of profits above 6 percent, and he would forgo his fee if his performance did not exceed the return on government bonds, which yielded the same 6 percent.
Buffett alone had authority to make investments for the partnership, and he would answer no questions regarding them. New investments were allowed only once or twice annually, and he broadened his investor base as his profits grew, bringing in 90 more limited partners from throughout the nation at $100,000 each. (Laurence Tisch of Loews and CBS put in $300,000.) Buffett incorporated the group as Buffett Partnerships Limited and opened an office in Kiewit Plaza. This location would endure as the headquarters for what was to become Berkshire Hathaway, the most successful investment company in history. Within 10 years Buffett had assets of $44 million, of which nearly $7 million was his. In 1969 he determined that further suitable investments were unavailable and began to liquidate the partnership. By then the assets had grown to $104 million; Buffett's share came to more than $25 million. He had always said that someday he would be wealthy, but for Buffett this was only the beginning.
Buffett had become a master at arbitrage investing, taking large positions in stocks of companies that his research showed to be ripe for mergers, liquidations, or takeovers. He used margin borrowing to gain leverage, which helped him establish partnership positions that put him on corporate boards, where he could exercise influence. Undervalued companies were a specialty, as they proved vulnerable to large investments that enabled him to exert pressure for control. This was his key to gaining control of Berkshire Hathaway, which was to become the keystone of his rise to financial power.
He was joined in his enterprise in 1962 by Charles Munger, who became virtually an alter ego. Munger was possessed of a brilliant mind and a rapier wit and tongue, and the two became partners for over 40 years. During the years of the Buffett Partnership, they invested in a group of stagnant knitting mills that were slowly withering in New England. This was Berkshire Hathaway, which consisted of a struggling milling entity in the town of New Bedford, Massachusetts. Buffett examined the books of the company and began to discern greater value than was evident at first glance. The long history of the fabric industry in New England and the resolute men who had shaped it intrigued Buffett. He set about quietly purchasing blocks of shares as the stock began to slide. An internal fight between relatives over the future of the company played into his hands.
He visited the main plant in New Bedford and was shown the operations by Kenneth Chace. Chace was open and candid and shared with Buffett forty years' worth of corporate statements regarding the company. Buffett continued buying the stock both directly and through brokerage houses, and he saw in Chace a man who was virtually the model of the kind of business personality that interested him. Buffett invested in companies, but he always made sure that he was investing in the right kind of people. Chace was offered the presidency of the company as soon as Buffett took controlling interest. When he liquidated his original partnership, Buffett kept 29 percent of Berkshire, which would become the foundation of his new enterprise, the holding company Berkshire Hathaway.
The Boy Becomes the Man
When he was asked how he had discerned any value in his investments, Buffett said simply that he read thousands of annual reports and corporate statements. Value Line, Moody's, and Standard and Poor's were the core of his studies, followed by corporate publications. Buffett saw the library as the true basis of anyone's education; the fact that it was cheaper than the cost of attending college warmed his conservative heart even more. Buffett did not like to spend; he was a gatherer and a holder. His childhood was replete with stories of youthful enterprise, beginning at the age of six, when he bought six-packs of cola for 25 cents and then sold individual bottles for 5 cents each. He scoured golf courses for lost balls, which he then sold individually and by the dozen. When his father went to the U.S. Congress, Buffett took over several paper routes conveniently confined to large apartment houses. He kept careful records of all his customers, and when someone did not renew a subscription, he was quick to remind them and even to sell them a competing newspaper.
Buffett was grateful when his father, who had served four terms in the U.S. Congress, lost one of his campaigns, and the family left Washington, D.C. His father was a staunch conservative and a member of the John Birch Society, which was dedicated to combating liberal, socialist, or communist tendencies in society. His father always asked whether legislation "would add or subtract from human liberty." When he returned to Omaha, he put the young Warren to work in his brokerage office, chalking prices and quotations. With his mathematical mind, he enjoyed the job immensely, and the experience was to serve him well in his future career.
Back home in Omaha, Buffett used $1,200 saved from his paper routes to buy 40 acres of land, which he leased out to a farmer. He also developed a keen interest in horse racing. The statistics involved with weights, speed ratings, pace, past performance, and breeding variables intrigued him. He formed a partnership with a friend to print the "Stable Boy's Tip Sheet," sold at Ak-Sar-Ben racetrack. He and a partner also went into the pinball machine business, which generated a nice profit. His first venture into the stock market was at the age of 11, when he bought three shares each of Cities Service stock for his sister and himself at $38 and saw it drop to $27 and then climb to $40, at which point he sold, garnering a profit after costs of $5. The same stock then began to climb, reaching $200. This was a lesson to Buffett about staying in the market.
Foundations of Learning
While Buffett admired and loved his father, he tried to stay clear of his mother, who was given to rages that traumatized her children. To keep out of her way, Buffett spent more time in his father's offices. He was fascinated by numbers and money, especially how money could grow through compound interest. The notion of compounding interest never ceased to intrigue and delight him. He could compute and project interest rates off the top of his head in mid-conversation. His lifelong guiding credos were "Number One: Never Lose Money!" and "Number Two: Never Forget Number One!"
Buffett entered the Wharton School of Business at the University of Pennsylvania in 1947 and, after two years, determined that the instructors knew less about finance than he did. He returned to Omaha and finished undergraduate work at the University of Nebraska. Buffett then applied to Harvard graduate school but was denied admission. In the meantime, he had read what was to become a classic, The Intelligent Investor, by Benjamin Graham. Graham taught at Columbia University, and Buffett determined to go there to study; he soon became a Graham disciple. Graham believed that profits could be generated through ownership of stocks that were undervalued on the market. His concept was that stocks of companies that were well managed, sound, and grounded in a belief in their product could and should prosper as investments. Buffett's penchant for research and analysis, joined with a dogged conservatism about money, made him a natural believer in the Graham principles. He sought a job in Graham's investment firm, Graham and Newman, but was rejected. Graham was Jewish and was dedicated to providing openings in finance to Jewish students, who had a limited presence in investment houses. So Buffett went back to Omaha to sell stocks for his father.
In 1952 he married Susan Thompson, a student and friend of Buffett's sister at Northwestern University. In the early days of their marriage, he attempted to run a gas station, which did not succeed. In 1954, however, Graham relented and hired Buffett. He stayed with the firm for two years and became immersed in the Graham formula for money management and investments. Then Graham retired and closed down his company, but by then Buffett had generated a net worth of $140,000 and a wealth of knowledge and confidence about value investing. At the age of 26, he returned to Omaha and set about forming his own company, the Buffett Partnership.
Philosophy
His experience, combined with a reputation for honesty, hard work, and an encyclopedic knowledge of securities and finance stood him in good stead. Buffett possessed an ability to fuse self-interest with a desire to have his investors do well. He did not believe in stock tips, preferring instead that investors do the work, as he did, to find a stock worthy of investment. He believed that all stewardship of funds demanded an accounting and that leaving money at rest was unconscionable when there were opportunities to put it to work.
His personal ethics and business acumen played out in private and in public. He once took umbrage when Boys Town of Omaha continued to plead poverty and exploit orphaned and homeless children to gain contributions, which Buffett found were simply hoarded by the home. He forced an exposé in the Omaha papers that compelled the home to change its practices. As a money manager, he insured that all investments made by Berkshire Hathaway returned cash to the headquarters in Omaha. He had a basic instinct about the capability of people and required only that they submit a monthly financial statement and, in the event of bad news, to report it immediately. His company moved to gain control of Borsheim Jewelry, Scott and Fetzer, Blue Chip Stamps, GEICO and General Reinsurance, Western Financial, the Omaha Sun Herald, See's Candies, the Omaha Furniture Mart, Executive Jet, and the Buffalo News as well as taking large stakes in Salomon Securities, Coca Cola, McDonald's, and International Bridge. He was always wary of getting a reputation as a liquidator or parasite bent on draining a company of its assets. Only the Buffalo News acquisition, through the auspices of Blue Chip Stamps, bore the heavy handprints of a take-no-prisoners capitalist assault.
Buffett and his personal newspaper agent from Omaha, Stanford Lipsey, sought to gain a monopoly on newspapers in the city of Buffalo. He made no secret that challenging the Buffalo Courier-Express's right to control publication of a Sunday edition would inevitably cause that paper's demise. The Sunday edition was the lifeblood of the Courier, a morning paper. The Buffalo Evening News was constrained as an evening paper with no Sunday edition. The message Buffett gave to the unions at both papers was that their influence and numbers were to be severely curtailed and that their best interests would be served by agreeing to publication of a weekend edition by the Evening News. The unions understood their position, and the collapse of the Courier soon followed. Buffett, in his triumphant, though hardly his finest, hour, coldly told the existing unions, which had assumed they would be rewarded financially for their help, that the workforce made no worthy contribution to production of profits, given the solitary control of the market by the new Buffalo News.
Economic Discipline
Buffett's foremost strength was loyalty. He possessed an unyielding faith in his system, and his investors placed great faith in him in return. His admonition "Don't sell B-H stock!" was a watchword never to be taken lightly. His own children disappointed him by selling some of their stock when they could more easily have borrowed against it as collateral. He encouraged his investment partners to hold on to their stakes through good times and bad. Though he insisted on complete control over investment decisions, he also believed that business leaders had to provide an accounting to investors. He despised the practice of doling out options to executives and board members. To him, this was virtual charity. He also did not care for dividend distributions, which represented an inability of the managers to usefully devote the funds to the company's growth.
From his first investing experience in Cities Service to the creation of Berkshire Hathaway, Buffett stayed the course of his convictions. By the early 2000s, he and his wife controlled almost 39 percent of Berkshire Hathaway, some $40 billion in value. Wealth as a way to fund personal expenditures was insignificant to Buffett. It meant more to him to have the ability to buy without actually making a purchase. He continued to live in the house that he had bought for $31,500. He owned just one car, a Lincoln Continental. His only luxury was a personal jet; though he named it Indefensible, he justified having it by pointing out that commercial aircraft had become uncomfortable for him after he became well known.
In a speech at the Wharton School of Business (April 21, 1999), Buffett laid out four rules for investment: 1. Understand the business in which you are investing. Look for businesses within a circle of personal competence. 2. Look for sound, fundamental economics. Seek out companies that have a sustainable economic advantage, one he called "a castle with a moat around it," using Coca Cola as an example whose brand name has endured for generations and which could not be bought even for millions of dollars. 3. Find competent leadership. Honest, capable, hardworking leaders are needed to lead companies with a sustainable economic advantage. His instruction to Berkshire Hathaway managers was to "Widen the moat. That keeps the castle valuable." 4. Buy at the right price if you want an investment to pay off. He explained how he had gone through company after company in Moody's investment manuals, searching for those that had large cash values yet were selling at low percentages of that value.
Social Concerns
Buffett did not like to give money away, which meant that he was losing it. His tastes were simple; he ate hamburgers and drank cherry Coke, and he loved to use baseball metaphors in his talks about investing. He gave over $1 million dollars to keep minor league baseball in Omaha. He also helped Grinnell College in Iowa purchase (for $13 million) a public radio station. Two years later, to Buffett's dismay, the college sold it for $48 million dollars. His wife was prone to take up causes in poor neighborhoods and pushed him to donate to them. He did so reluctantly, and inevitably his better sense proved correct, as the money ended up being wasted, in his view. He also supported the formation of a liberal magazine in Washington that proceeded to fail. Abortion and birth control were two of his wife's special projects, as was the welfare of the homeless and street youths. The two formed a group called the Glide Foundation as a vehicle to channel money to that cause. In the early 2000s it seemed that a Buffett foundation would be the eventual beneficiary of his wealth, but Buffett preferred not to think about it.

Warren

2010-03-01T21:48:00.002+08:00

I finally caught Warren Buffet on TV today in my apartment in Jakarta. He is much more hyperactive than I imagine him to be. 79 years old, but fast talker, quick thinker, makes people think and go 'hmnnn thats right'. Although after hearing him talk and talk it gets a little boring after a while, cos he just goes on and on about economics.

But among all the mish mash that he is saying, what I take away from him is his buying philosophy, which has always been more or less the same:

-Be patient
-Look for the lowest prices and huge profit margins or high potential/brand equityeg coca cola, Acme brick, which cost a few cents to make
-Buy a product you understand and be prepared to wait at least a few years. eg he could not see ebay and you tube coming, but he could understand coca cola
-In the same industry, always try to compare between the 'same' products eg why coca cola and not pepsi?
-The person at the top has to be a good manager

When stock prices drop, dont panic and open your eyes wider
I note that although he appears to be the guru, he has a partner called Charlie, who is the silent guy and the guy who checks and balances him. I always feel that if you wanna do business or anything, doing it alone is not the way. You need a partner, 2 is good but 3 may be a crowd.

Or Tor Kor Market

2010-02-25T21:44:00.002+08:00

How on earth did I miss this when I went to BK???

Or Tor Kor Fresh Food Market

Written by Richard Barrow
Wednesday, 02 August 2006

At the weekend I finally managed to find time to visit the Or Tor Kor Market which is opposite the southern entrance to Chatuchak Weekend Market in Bangkok. I had heard some good things about this market and wanted to go and see for myself. I also wanted to get some more pictures for the photo album at enjoythaifood.com. The market is run by the Agricultural Market Organization (that is what the Thai initials Or Tor Kor stand for) and has recently had a makeover. The area is spacious and clean, and more importantly for photographers, it is bright. If you are looking for an easily accessible market in Bangkok then this one would be a great introduction. It has all the usual stalls of vegetables, seafood, meat, fruit and other products such as dried shrimp which probably came from the market I visited in Samut Songkhram. At one end of the market you will find a food court where you can buy ready made food such as the curries shown in the picture below. The are also a number of stalls selling Thai desserts which I just couldn’t resist. In fact we bought a lot of food.

We went to the market by car. It is very easy to find. We followed the sky train route up Phahon Yothin Road towards Chatuchak Market. We then turned left onto Kamphaenphet Road shortly after Saphan Kwai BTS station. The entrance to the market is just on the left. The easiest way for tourists to arrive is by the underground train. The Kamphaenphet MRTA exit (number 3) is literally by the front gate. If you are coming by Sky Train, then get off at Saphan Kwai BTS station and then you have a further ten minutes walk up the road and then turn left at the intersection. If you are here at the weekend then you can cross the road to the Weekend Market for a bit of shopping. Plenty of things to photograph here.

Real estate in Singapore

2010-02-18T23:59:00.003+08:00

It pays to be born early. During some years the downpayment for private property was only 5%. Now its 20% and thats a lot of diference.

ICT 2010

2010-02-16T00:56:00.004+08:00

This ICT has been interesting. Was pulled to learn to drive a new amoured vehicle within a week. Met a group of friends with varied backgrounds ranging from teacher, banker, nutritionist, HR, IT entrepeneur, producer. Had a great group of instructors who earned our respect by the end of the week. Topped off the week with a great IPPT and I passed partly due to Kevin the IT entrepeneur who took the effort to pace me at the last round. Appreciate that Kevin! Most memorable experience was when we did the jumping into the sea thing from the vehicle.....

Sick free in Dec 2009

2010-02-13T23:28:00.004+08:00

In 2007 and 2008 I was sick during Dec at Christmas. In fact in 2009 I got the cold every 4 months. I started taking this brand of Vitamin Cs in Sept 2009 and I was sick free for Dec 2009!
Wooo thats a record for me and I am proud of it. Looks like I be taking this Vit C from now on!

2010 for Dragons

2010-02-13T23:22:00.002+08:00

Was watching the Chinese New Year countdown programme on TV when this consultant segment shared the forcast for 2010 for Dragons. He says this year will be smooth with good business opportunities and will meet angels. Married dragons wil enjoy a smooth marriage. On the downside he mentioned to take care of cashflow issues. The last thing he said is that Dragons will experience digestion and stomach problems...I was like what?? I been having on and off diarrhea since last Dec. Could he be right? haha . I dont believe such things but I will put it down on my blog for the record. At the end of this year I will review and reflect and see if this consultant is right, just for the fun of it.

Luck

2010-02-12T12:34:00.000+08:00

Heard this today:

Luck = Preparation + Opportunity

2008, 2009

2010-02-04T13:48:00.003+08:00

The last 2 years have been eventful. If you asked what events in the past 2 years have affected me, probably:

2008

Sichuan Earthquake richter 8 Dead 68 000- TV footage of the mass collapse of thousands of badly built concrete houses made me wonder how many children are buried under the rubble.

First black president of the United States- A symbol and triumph of of the human spirit which overturned hundreds of years of racial discrimination. A sign of hope and equality

India Mumbai terrorists attack Hotel Taj Mahal- The newspaper detailed writeup of how a lawyer from Singapore was shot dead at point blank made me wonder at why humans would want to kill another

2009

Swine flu Pandemic- affected my travelling plans and made travel such a jumpy expereince

Great Recession-an example of what human greed can do. The world almost came to a standstill and made people loose thier jobs

Marriot and Ritz Carton bombings in Jakarta- close to my office in Jakarta right in the city centre. Having passed by there a few times, these 2 hotels in the words of the locals have become legendary, calling it the 'tombstone' of the caucasians.

Australian houses 'world's least affordable'

2010-01-29T15:05:00.001+08:00

27/01/2010

Australia has the least affordable houses in the world, according to a ranking of international housing markets.
From a total of 23 Australian regions included in Demographia's Sixth International Housing Affordability Survey, 22 were labelled severely unaffordable and Australia scored the worst housing affordability rating in the world, followed by Canada.
Demographia calculated the ratings by diving median house prices by annual median household income and named Vancouver as the least affordable market in the world.
Sydney was ranked second, with the Sunshine Coast, Darwin and the Gold Coast rounding out the top five.
Melbourne and Wollongong also made the top ten, coming in at eigth and tenth respectively.
In Sydney, nearly 57 percent of the average income is needed to pay the mortgage on the average house, compared to just 13.4 percent in Dallas, Texas, one of the most affordable major city housing markets in the world.
The average dwelling price in Sydney rose 11.6 percent last year to $475,000, just above the national average of $439,000, according to RP Data.
Experts said housing affordability is being eroded by a lack of supply.
"Residential land release in Sydney has been reduced from an historic average of 10,000 lots per year to less than 2,000 in 2007," said Dr Tony Recsei in the preface to Demographia’s report.
"In the face of the scarcity resulting from such a miserly allotment it is unsurprising that the land component of the price of a dwelling has increased from 30 percent to 70 percent. The result has been a cost increase of some three times what it was a mere ten years ago."
Demograophia added that land release and planning issues are making the situation worse.
"In Australia, there is consensus in both the government and the private sector that there is a severe housing crisis, with rampant unaffordability and a housing shortage," the report said.
"It takes from 6.25 to 14.5 years to convert urban fringe land into new houses, which compares to less than 1.5 years before urban consolidation, and which remains the case in the 'demand-driven' (more responsive) markets in the United States."
Demographia urged governments to free up land use rules in order to ease affordability problems without causing a housing market crash.
"The restoration of near historic housing affordability in some markets provides an opportunity to repeal more prescriptive land regulation policies, which would not only minimise the potential for future busts, but would also ensure housing affordability for future generations," the report said.

bosses

2010-01-14T21:03:00.006+08:00

2009 for me was a roller coaster ride. It is by far one of the most difficult years of my working life. It is the year of hard knocks for me, full of drama and brought out the worst in people, myself included. I asked God why he subjected me to such suffering and he replied that he wanted me to see people for what they truly are. He wanted me to see through their hearts and not take them as face value, to distinguish between those who can be real friends and those who cant. Also on the upside, I know myself better and I know what I do not want for my next job. It cannot get any worst than this job. I have been through the worst of the worst departments and the worst of worst bosses.

When it comes to bosses I remember them very clearly, both for the good and bad. So far I have been unfortunate (or fortunate?haha) to have gotten bosses who are poor leaders/managers, and I know that when I become a boss, I will never be like them.

You can judge for yourself from the real life examples below:

Boss in Job Number 2
-tells you to be more like this other named colleauge, compares you with this other named colleauge

Boss in Job Number 3
-when not satisfied with your performance, keeps it inside her and does not give you feedback, unitl she uses her accumulated unhappiness as a reason to judge my performance during appraisal time
-uses my colleauges as a reason to say that people are not happy with me. Up till today I still do not know the truth if she is lying or not. Her integrity is questionable

Boss in Job Number 4
-micro manages
-wants you to do whatever he says
-wants to do everything at the same time, cannot prioritise
-irresponsible in saying things, twists and turns and does not take ownership
-does not step up
-indecisive, changes his mind all the time
-one tracked mind

2nd boss in Job Number 4
-Jokingly ridicules you in front of external parties (9 Feb)
-Temperamental : mood changes split second

-Think he knows everything. thinks he is smart

-Obsessively concerned about thought processes
-But he is extremely good at identifying bottle necks

My pet peeves
-When a boss tells you to change your planned leave just because he wants you to be around.
-When a boss tells you to go into his room every time he wants to know some little thing.
-When a boss overlook something and he tells you that you its your job to remind him.

Gifts from Hong Kong

2009-12-17T22:25:00.003+08:00

People ask me what to buy when in HongKong. Theres a few things that one can buy:

-premium tea leaves
-dried seafood
-dried scallops snack
-wife's biscuits
-for the advernturous, roast goose
-egg rolls

Travel insurance: To buy or not to buy?

2009-12-06T17:45:00.003+08:00

My wife and me have been debating recently about whether or not to buy travel insurance. My view is that why bother paying for something that may not happen, or probability of happening is small? Well, then again, I suppose we really have to look at the details. It depends on what sort of activity you will be doing while you are overseas, whether you can afford to lose your luggage, if the country you are going to is safe, whether medical there is expensive and chances of you contracting some disease.

What can possibly happen? If you think about it, lots:

Flight cancellations and delays
Natural disasters (eg.earthquakes in Indonesia)
HINI or similar
Diahrrohea after drinking the local water or street food
theft
injury (eg finger gets caught in taxi door)
damage to luggage or missing luggage
fall sick due to weather
freak accidents like something drop on you while on the streets (eg HongKong)
...........................

I will seriously consider buying travel insurance next time haha, if the premiums dont amount to much.

2009-12-01T23:33:00.003+08:00

I came across an article the other day where MM Lee acknowledged that Singapore although we like to think of ourselves as a first world country, will find it challenging to become as environmentally conscious as the Japanese, as we have a long way to go when it comes to green habits such as recycling and caring for the environment. I can think of some more reasons why I find it embarassing to call ourselves a developed country:

1) Sometimes when you cross the street, you find that cars instead of slowing down for you, drive faster towards you instead.
2) After so many years, Singaporeans still do not queue up to enter the MRT trains. I was surprised that the Thais do. And the HongKong people are starting to.
3) Littering is still rampant. We just have many cleaners and heavy fines to offset it.
4) At zebra crossings, drivers seem to to think that pedestrians should look out for them, instead of the other way round.
5) Too many people pretending to fall asleep on the trains with a pregnant women standing in front of them.
6) Our customer service standard is simply 'fantastic'

Those who agree say aye!

My perfect yum cha

2009-11-28T19:39:00.004+08:00

I always forget what I want to order when I go to HongKong for yum cha. As of now I will write down my ideal yum cha order list less I forget. About half of the items I cant find in Singapore:

1. Chicken feet
2. Carrot cake
3. Beef chee cheong fun
4. Sheng Cai
5. Beancurd skin with pork
6. Beef ball with orange peel bits
7. Fish belly ball
8. Lotus leaf glutinous rice
9. Custard bun
10. Small serving yee mee
11. Beef brisket
12. Chicken feet and pork rib rice
13. Zha Leung (fried fritters wrapped with cheong fun skin)

By the way,
Soy street in Mongkok has good traditional food. Kowloon city market has fresh seafood.

Seoul

2009-11-28T15:46:00.008+08:00

We took a holiday to Seoul recently. All this Korean drama craze makes you wonder what the place is like, and whether all the boys and girls there will look like the stars on TV.

Incheon airport looked like a futristic space station from the outside, but the inside looked annoynomus, steel and glass structure which made me feel the same as Hongkong, Bangkok. Such interiors were starting to get a little boring to me. But I am sure it has reasons for being named the best airport for 2009.

I must say that October is a good time to go. The leaves were turning yellow and red everywhere. Weather is cold and a nice change from Singapore. The small streets and alleys were filled with traditional houses converted to the cosiest cafes and restaurants much more tastful than Singapore in terms of ambience and design. Coffee and waffle shops were everywhere although I am not sure if it is a passing trend.

People on the streets were in their 20s and 30s and they dress much better than Singaporeans. The men have hairstyles that looks like the Korean stars and good complexion.

Some quick notes:
-Weekends are in my opinion not a good time to be in Seoul, its overly crowded on Sats and shops are closed on Sundays. Weekdays are much better for tourists.
-Meoyndong has stalls along the streets which sells snacks and cheap trendy stuff. However if you go on Sundays they are closed
-Migilore has Grade A fakes which are worth having a look
-Lotte World sells a type of premium ginseng sweets which cannot be found anywhere else. We looked for a few days before finding it. Also it being a big time supermarket, you can buy prepacked kimchi to take home.
-Nandaemun market sells a good range of dried goods, cheap sweets and kitchen ware, which costs about twice as much in Singapore korean shops. I found my favourite korean anchovies there! You can also find semi sun dried persimmons which are simply delicious. So are the dried octopus slices.
-The city bus tour is an extremely in expensive way to see Korea if its your first time there. Costs about 10 Sin dollars per pax and you can go round the whole day, get on and off at attractions and busses come every half hour. You could spend 3 days on these buses I estimate.
-shopping: Bargaining was hard as I dont think it is common. Only the people selling Grade A fakes are willing to bargain for obvious reasons. haha

Things to buy which are probably costs double in Singapore korean shops:
-kimchi 2.2 kg @ 15 000 won from Lotte World
-stainless steel chopsticks and instand noodle pot (haha)
-Grade A fakes from Migilore
-Ginseng sweets cheap from Nandaumun and premium ones at Lotte World
-Red local ginseng powder from Lotte World and Nandaemun
-Maxim 3 in 1 coffee which tastes fantastic for 3 in 1 instant coffees (watch the calories though!)
-Soju at 3 Sin dollars a bottle!
-BB cream for men (haha)
-korean anchovies (the ones they use for sidedishes)
-semi sun dried natural pessimons

Food:
-The barbeque was fantastic and so was the kimchi and side dishes. Ginseng chicken I find expensive at almost 20 Sin dollars a bowl but rivgorating in winter time.
-Most of the food there had red chilli bean paste in them and after a few days I could not take it anymore and was dying for something else.
-Tuna and kimchi goes very well. Just get the canned tuna from the supermarket and mix it with Kimchi and rice. yummy

What I could have done better
-Dont expect to find money changers in Korea like the ones in Singapore. I kept delaying changing money in Singapore because I thought the rate was not good enough. So when I went to Korea, the rates were worse! In the end I got the worst rates I could possibly get....:(

Language
Thank you- Kam Sa Mi Da
Hello- Anio Haseyo
Hey- Chokio
Can you give me a discount- Kaka cha se yo
Good bye- Anio Kaseyo

Trends of the Future

2009-10-10T13:12:00.009+08:00

Amid the recent distasteful surge in property prices in Singapore which our policy makers have done little to ensure affordable housing for the masses, I can dare say that there is little to be made from real estate. Fortunes in real estate have been made by our forefathers and the baby boomers, where land was a dollar cheap then. In the changing climate of the world, there are a few trends I observed that are here to stay. I need to qualify that these trends may/may not happen in the next 15 years within my generation and I am speaking within the context of Singapore.

-The fight against global warming is here to stay, and all things to do with the environment like carbon tradings, reducing carbon output, ecological design. Singapore government aims to have 80% of all buildings certified Green by 2030.
-As Singapore enters the greying population stage, our baby boomers are entering the silver generation age and business to do with catering for the silver generation will experience demand
-The F&B scene will get more competitive as new trends in food are discovered and brought in from other countries.
-Branding will become more and more important as the number of business fight for consumer market.
-Non profit will grow in tandum with environmental trend as the world goes back to basics,
-Established brands will diversify and create sub brands or think of ways to bring luxury to the masses
-Outdoor areas and old buildings will be reused for new concepts and even musesums as Singaporeans struggle to remember our past
-Our policy makers have finally wakened to the idea that water is our resource due to our status as a island surrounded by water. Things to do with water will be looked upon favourably
-Internet business will be used more widely as shop rentals increases
-Entertainment, events and travel industry will continue to grow as Singaporeans look to ways to entertain themselves in this boring city
-Co sharing programs and rental business will become more popular as the cost of living in Singapore increases
-Tecnology business will continue as Singaporeans look to more gadgets and ways of using them to live more conveniently
-'Live slow' business may be a dark horse, as Singaporeans find thier lives too fast paced, they could be looking to live thier lives slower.

The main market to target will be the upper middle class I think. I suspect this group are conservative with their savings and thus have much reserves. The rich have had thier net worth reduced in the recession. Middle lower class not making enough to spend yet.

Netbooks

2009-10-02T18:32:00.001+08:00

I love my netbook. Its the perfect thing for travelling for leisure or work. You feel like you are carrying a book!

Munich 22 Aug to 30 Aug

2009-09-04T15:47:00.003+08:00

When I was told that I had to go to Munich for work, I thought it was going to be a real boring industrial city. The only thing I heard about the place was that it was famous for being the HQ of BMW. However by the end of the week I had fallen in love with the city.

When I arrived at the airport, the first thing that greeted me was a giant logo and front plate of the BMW car, and I thought that was fantastic, a brand so well known to the world and becomes the ‘face’ of the country.

I exited the airport, boarded a cab and proceeded to the hotel. As I looked around, all the taxis were either Mercedes or Volkswagon, and as I passed through the old city walls, I noticed that every other private car was a BMW! If this wasn’t Munich you would think that this was a country filled with snobs, for me coming from a country where BMW is considered a luxury car. Apparently BMs are quite affordable to the locals minus the premiums and taxes we have to pay for foreign exports. It is certainly touching to see that Germans are proud of and buying their own brand.

Driving into the old city, I noticed another amazing sight: there were people cycling all over the city! Also instead of buses you have trams as public transport, and what you see is an entire urban ecosystem of trams, cyclists, cars and pedestrians interfacing with one another in a continuous network of roads, tramways, cycle ways and footpaths. Cyclists have the most right of way here, and if you stray on to the cycle path you will get impatient looks from the cyclists. Most of the bicycles here are the single speed streamlined cruiser bicycles that are designed for mid speed cycling. The bicycles travel at almost uniform speed and they don’t need to wear helmets here. Some even have little trolleys attached to their bicycles for their pet dogs and babies.

I will not talk about my work, and the only thing that I would say about work was that it was a pleasure to work with my European colleagues from France, Italy and Germany. They were a fantastic bunch.

I had the opportunity to walk around the city in my free time. At first glance it looks like any European city, but my colleagues began to point out the differences that make Munich stand out from other cities like London or Paris.

For one, people are generally friendly here. Munich is also one of the safest city in Europe. Bicycles were parked and locked freely in the city and nobody steals the parts. Shopfront windows need not have to be grilled or caged up after hours because nobody breaks the glass. In Australia such things would have to be grilled up otherwise the shopfronts would be broken by vandals. Interestingly people here drink so much beer and yet you don’t see anyone lying on the streets or broken glass anyway. My Italian colleague mentioned that if it was Italy there would be trouble caused by groups of drunk people. My hotel was along a supposed red light district and yet you do not see street walkers and strippers soliciting and no druggies, unlike King’s Cross in London and Sydney. In fact this place is real boring if you are looking for sleaze. I will elaborate on the safety in parks later. And the boutique hotels here..are almost like entire different worlds when you stumble into them.

Surprisingly the cost of living is actually rather affordable compared to London and Paris. I bought a 2 scoop gelato cone for 1 Euro! If you go to the discount supermarket you can find chocolates going for 55 Euro cents and wine for 2.55 Euros!

Munich’s ancient city is called Bavaria and they were supposedly a bunch of monks and ancient warriors that built the medieval city. Bavarian food is very popular with the locals and is mostly a type of ham/ patte and sticky meatballs

Beer gardens- They only open during summer spring time. Munich is also famous for being the venue of Oktoberfest and their beer gardens are legendary. From the outside you think it was just a quiet park or garden, but when you actually discover the location, there are at least a few hundred people sitting under the shade of the mature trees enjoying a beer. Even though there were so many people, there was never a queue at the serving counters. This is German efficiency at work. The beer came in 1 litre mugs and you could take it home as a souvenir if you want. You don’t even have to purchase their food. You could bring your own food as long as you buy a beer.

The feeling of safety was again felt when my French colleague brought us for a walk in the English Garden, at night! The park was dimly light and all you can see are shadows of people walking around. I was told that these are not homeless people but park users who use the park like as if it was daytime! There were people cycling, walking, sitting and having candle lit picnics. If this was London or Sydney you would have been mugged. In the day it must be a delightful park to walk through. I was told the water from the streams come from the Alps and it was almost clean enough to drink.

The most touching experience I had for the trip was on the last day just before I went to the airport. I had gotten the number of a taxi driver the last few days. I called him to send me to the BMW museum to have a look. He actually offered to be my tour guide for the few hours till I depart for the airport. He showed me around the museum and drove me around Munich for free. We stopped by Hitler’s Museum for a coffee and talked about life and exchanged cultural differences. I can never imagine this happening in Singapore!

The new BMW showroom across the road from the Museum was an eye opener in its own right. It was designed by one of my favorite architects from Austria and I remember studying about this building when I was still at University. Back then it was only at the design stage and I could only see sketches of the building from books. I used to think that the Architect was a bit crazy because they claim to draw with their eyes closed and their sketches were a mish mash of undecipherable scribbles and emotions. Today I am standing right in front of it and looking at the finished product with my own eyes. It was an amazing structure and I could feel my architectural soul once again in the spirit of the space.

On the way to the airport I passed by the new Alliance Museum designed by Herzog and Meuron (architects who designed the Beijing Olympic Museum) and I can only look at the form and materiality of the stadium in awe, as there is no time to stop for a look.

I am thankful for this trip, not just because it is Munich, but mainly because of the friends and experiences that I encountered in this beautiful place.

Bishan

2009-08-15T21:38:00.002+08:00

After 2 years in Bishan, there are things I love about it and things I wish there was:

Loves

The well designed library
Bishan Park
Cycling and jogging around the neighbourhood
The outdoor cafes within Bishan Park
The authentic and affordable italian food stall at the coffee shop at Street 22
The lovely small hill/park outside my flat
The sight of the trees fronting majestic RI in the morning
The smell of fresh air in the morning outside my flat
Dome cafe at Bishan Community Club
The chicken rice among other old favourites at Kim San Leng coffeeshop
The number of 24 hour coffeeshops in the neighbourhood
The full facilitied and well planned sports complex
The Circle line interchange
The open plaze between the MRT station and junction 8, where somehow you can have a full view of the sky
The new MRT entrance at the other end of the bus interchange, with its organic form and the coffeeshop next to it that faces an open field...nice to have a coffee there in the morning

Lacking

The bus interchange is in desperate need of upgrading
I want satay in Bishan!
More cheap breakfast options on the way to work
More buses to town and the central part of Singapore
More taxis along Bishan Road!
Somebody should control the number of Garang Guni men shouting outside the blocks during the weekends when I am sleeping in!
Swimming pool is overcrowded with swimming lessons

Electrolux Vacum Cleaner

2009-07-02T22:53:00.004+08:00

My wife finally convinced me to buy this the other day. I have heard not so good things about cordless handheld vacuum cleaners, so I took the risk.

What a lovely appliance to use! Elextrolux has made this cordless vacuum cleaner one of the best in the market. It is basically an electonic broom. No need to worry about flying hairs and dust like when you use a broom and pan.

Its cool design make it look like an accessory worthy enough to display, like a cordless phone, where there is a charging station and all you have to do it to dock it at the charging station and not worry about it.

Battery life is better than most cordless vacuum cleaners. But do note that this is a electronic broom, and what you do with brooms are only for hairs, dust and small stuff, not for big pieces of trash and not for wet areas.

Thoughts of a Financial Idiot- Property Investment in Australia

2009-06-30T15:52:00.005+08:00

Many people have asked me about buying Australian property, since I studied there. There are many details but I w ill try to summarize the important issues.
We have seen many advertisements in Singapore papers selling Australian property to Singaporeans.

The main reason to buy Australian property as a Singaporean foreign investor is to get capital gain over the years, which is no different from buying any investment property in Singapore.

However as compared to the Singapore market, the Australian market does not fluctuate so wildly. People claim that Australian property almost certainly doubles in value every 10 years.

While you wait for the property to increase in value, you rent out the property. People claim that rental demand in Australia is almost certainly guaranteed, as more than 60/70 percent of Australians rent. The agents always use this as their big selling card.

You will be able to get quite a few government reliefs and tax benefits as a foreign investor. Some of the interesting ones which you cannot get much in Singapore are stamp duty relief and tax relief on depreciation of property. Singapore does not have this concept that a property physically depreciates as it gets older, which can be calculated in the form of relief.
Singaporean investors actually have an advantage over the Aussies as Singaporeans can get interests rates pegged to Singapore banks which is much lower than the interest rates of the Australian banks in Australia. The agents always use this as their big selling card.

Now for the not so good stuff....

When you want to sell, there are certain restrictions on who you can sell the property to.

You have to pay for the local real estate agent to manage your property, which is normally about 7 to 10 % of the monthly rental.

You can probably get only about max 70 to 80% loan from the banks and you have to pay the rest in cash. This also depends on the agents relationship with the Australian banks.

The agent will claim that Australia is undergoing an urban revolution now. Traditionally families did not like living too near the city, as they want big houses in the surburbs. Now as property prices are increasing over the years, units are getting smaller and there are more and more highrise apartments (to combat sub-urban sprawl), young people who live away from their parents do not mind living in an apartment in the city, which is nearer and they do not have to get through traffic jams to get to their office.

If you are not Australian, you can only buy a property which an agent officially ‘brings’ into Singapore with the permission of the Australian government, and these are normally apartments or townhouses which has no space for redevelopment or extension. What I am trying to say is, if you find a big stand alone house by the beach that you like through your personal friend staying in Australia, you are not allowed to buy, unless you go through a tedious government approval process, which is likely to be rejected anyway.

The other factor to consider is of course the exchange rate, which fluctuates, and could cause a decrease or increase in the valuation of your property. This is made worse in bad times, when the banks tighten their belt and starts to revalue their properties. If somehow the valuation of the property falls below the price that you originally bought it for, then they may ask you to top up the difference in cash. I thin this is known as margin call. (http://www.salary.sg/2008/margin-call-on-your-housing-loan/) This is also common in Singapore but for Australian properties this risk can be magnified by the fluctuating exchange rate. The agents will claim that this seldom happens if the difference is not more than 10% or something.

All in all, for Singaporeans, I think the idea of owning a house in Australia by the beach is more’ romantic’ than the actual returns of the investment itself.

SIngaporeans are world's fastest walkers

2009-06-20T18:23:00.006+08:00

I was surprised when I came across this article that we are the world's fastest walkers in urban cities, even faster than the people in HongKong and the Tokyo. The article also mentioned that how fast we walk has some measure to the pace of life we live in. Now we cant even console ourselves that the pace of life is worse off in HongKong and Tokyo. Think we might just beat them to it!

Now the next question is: Do we sometimes even know why we are walking so fast for? Just to catch a train? hahah we make ourselves look so silly sometimes.....

Bangkok 28 April - 3 May 09

2009-05-03T20:24:00.010+08:00

I finally made my maiden trip to Bangkok the Land of Smiles. Well I was there once during army days for training but that dont count!

Overall a nice experience. I have been to KL, Jakarta and now Bangkok and I would say that Bangkok is the most exciting out of these 3 developing countries within South East Asia. (or should it more politically correct to say ''almost'' developed countries:))

Some highlights and downlights:

1) When it comes to cheap clothes and T shirts, you can find them in Platinum shopping centre and Pratunum street market. I can dare say for sure that you will never finish this in 1 day if you want to go shop by shop!

2) If you are looking for a good night market with good food, Suan Lum night market is it. Prices are not fantastic as compared to Chachuchat, but there is a outdoor food enclave behind that is charming for people watching and serves great food!

3) Chachuchak weekend market has to be the mother of all markets. Six thousand over stalls. I think I only finished half of it in 1 day!

4) Shopping: There are about 6 major shopping centres that will take you at least half a day to finish each of them. We enjoyed MBK for the most for its cheap stuff. The prices of stuff at Siam Paragon, Siam Center and Zen Central were about the same as Singapore, which was obviously not why we were in Bangkok for. In addition to the name Land of Smiles, I would also call Bangkok the City of Giant Shopping Centres!

5) Food: Prices of restaurants in shopping centres were about the same as Singapore, not as cheap as I expected. Street food and hawker stalls were cheap of course, but their hygenie standards are questionable. I heard Japanese food was good and cheap in Bangkok due to a large number of Japanese there, but the ones we tried werent good and cheap. People also tell me to go to Chinatown for cheap sharks fin and bird's nest, so we did make a trip there and were dissapointed some what. Although the bird's nest is cheap by Singapore standards, the quality of the birds nest was bad and cooked badly. The sharksfin came in a claypot but there wasnt much fin....Anyway I am not a fan of both dishes to start with, so I feel its not worth the while to eat at Chinatown. The chinese food wasnt to my taste. We ordered simple dishes such as roast meats and stir fried kailan with salted fish. Somehow I felt that chinese food in Hongkong and Singapore taste so much better and refined.

6) The sky train and MRT takes you to almost every part of the city. It is higher than our Singapore MRT, so it really feels like a 'sky'train, and in my opinion diffentiates BK from other cities. It gives BK its distinct metropolistic character. Some of the station platforms are so big and long that you can connect from shoping centre to shopping centre without getting to street level! Almost like another world. Not very elderly friendly but.

Thai people are generally very friendly to tourists. Both the men and women have this very gentle disposition that is non agrressive and makes them seem very sincere when talking to you. I love the Thai greeting Sawadeekap. The symblic action of the clasped hands and slowed bowed heads feels so warm and genuine, and hygiene free too!

My best buy of the trip? An Obama T shirt, cotton bathrobe (23 Sin dollars) and a designer do it yourself lamp (13 Sin dollars)!

Should have bought: handmade soaps

Newcastle again

2009-04-09T18:01:00.002+08:00

Memories of newcastle floating past my mind again. Reminiscing about:

-the wild cockatoos flying past at sunset which can never been seen in Singapore

-Newcastle baths: These are man made swimming pools by the sea filled with sea water. Walking along the edges of the pool overlooking the sea make me felt like infinity.

-I miss the papadum chips at the supermarkets! For papadumlovers, the chips come in pringle size tubes which is so convenient! Oh my G** (with an Indian accent)

Saturday Outing: Bottle Tree Park

2009-04-06T16:04:00.002+08:00

Seriously, dont even bother, unless you like man made fake ponds and plastic swans. There is only 1 bottle tree, and they dare to call it bottle tree park.

Graduate Employment Survey

2009-04-04T22:04:00.003+08:00

Read this in today's papers. Apparently this is a first for Singapore. A comparison of graduate salaries comparing the 3 big universities NTU, SMU and NUS. And prepared by the Ministry of Education.

There were previous versions of these type of graduate salary surveys but were prepared by employment agencies or individual schools with either hidden agendas or no solid research and using different benchmarks.

This survey claims to have been prepared from the same benchmarks and by a neutral entity, being MOE.

http://www.moe.gov.sg/education/post-secondary/

Have fun checkng it out! haha

Reccession proof businesses?

2009-02-28T21:47:00.002+08:00

Looking around, there seems to be a few business in SIngapore that are still thriving in reccessionary times like this.

Gyms- People are stressed and have no jobs, so they have lots of time. They dont mind paying for a gym package to relieve stress.

Tour agencies - Singaporeans love to travel, because Singapore is so b*** boring, so tours to nearby asian countries are still as if not more popular then ever.

If you notice, both are industries that relieve stress........hint hint

Movie Review: Slumdog Millionaire

2009-02-21T22:45:00.006+08:00

I am so happy that I am catching all the right movies recently. This one will be another of my all time favourites. What does a game show got to do with the telling of a Indian slumboy's pathetic life? How the gameshow is connected throughout the movie and ends as a final climax is so well woven into the movie fabric. Intense storeyline, well balanced rythm that kept me captivated by what is going to happen next. This movie has Daniel Boyle's characteristics that he used in 28 Days Later, by using lighting from a main source and shadow casting to create a wilderness effect. In 28 Days Later, it was the humans that were alone. In the case of Slumdog Millionaire, it is the loneliness of the main character where he is all alone in the slums of India.

Ultimately it is a love story of hope and faith. I think he chose India as the setting as it is the most unlikely of places to find hope and faith. Similarly in 28 Days later, he chose London as the setting because it was the most unlikely place to find zombies. I love his anti mainsteam style.

I am beginning to regonise his trademark characteristics, such as aerial shots, tracking shots, using colours in a dull setting, and the spot lighting effect....

This movie certainly deserves the accolades that it has been getting. Piece of art.

Thoughts of a Financial Idiot - franchises

2009-02-14T23:39:00.003+08:00

A friend once asked me if I am keen to bring in a certain cafe chain to Singapore. Well I did think about it and then reasoned to myself: if I did that then I would be first paying a lump sum of money to the original owner and the business still had a certain risk of failing. I would have lost a large sum of money (in the range of 100K to 200K) even before I started! Fanchises dont really maximise their profits as they are paying heaps to the original owner.

Well to be fair it depends a lot on the type of business and location of the outlet. I guess 7 -Elevens are still profitable, as long as the location is right. But the same may not be said about a specialised product which does not target the masses.

Sure it is tempting when you see the brand so sucecessful in other countries, especially if it is something close to my heart like a cosy cafe or something, but I keep reminding myself not to be tempted.

I keep telling myself, instead of being the franchisee, why dont I be the franchiser instead? Why dont I use my creative thinking as an Architect to conceptualise and create a brand which will be successful? That certainly seems possible. The brand does not have to be established historically, as long as it is successful.

I think I might do that one day, when my brain is freed from thinking about other things.....haha..Anyone wanna give it a go with me?

Ngong Ping 360

2009-02-13T22:54:00.009+08:00

Ngong Ping 360. The name is aptly given to this latest tourist attraction in HK. I was in HK for the Chinese New Year again and my in laws brought me to this new theme ride. The ride claims to guarantee you a 360 degree view of Hong Kong, which is how the name Ngong Ping 360 was derived. Boy the ride was way beyond my expectations.

The ride was supposed to take us from the commercial centre of Lantau Island up to the Big Buddha. As I got into the cable car I was immediately swung into action as the cable car swerved up a few hundred metres into the air. Right away I knew that what the ride claimed was right. As I turned left to right I can see everything that HK has to offer, a panaromic aerial view of HK.

It is not often that a theme attraction lives up to its hype and marketing. But this ride is larger than life. The HK govt has made it the biggest, the longest, the highest and the most spectacular. By the time I reached the top of Lantau island, I had crossed 2 oceans and 3 mountains. The feeling of hanging few hundred metres in the air with only a cable is exhilirating. I caught sight of the entire aerial view of the airport.

As you reach towards the end of the ride, you see the Big Buddha in the distance, and I was suddenly reminded of the ancient Chinese folklore, where the Monkey God somersaults in the clouds to reach the Buddha.

When I alighted, the government had also constructed this delightful new village of restaurants and shops. As you walk further up you reach the older and quieter part of temple and you know that the Buddha is near. The government has taken great pains in ensuring that the commercial entity was situated away from the religious areas and did not engulf the serene and religious environment of the temple.

This ride will make Hong Kong even more regonised on the world map. A trapeze in the sky hanging from the top of the world. A successful attraction with the X factor.

Food Review: Wild Rocket

2009-01-25T22:31:00.008+08:00

I had heard so much about this restaurant. I had my skeptics because I heard that they serve fushion food - fushion between Asian Singaporean and Western - and I have yet to taste really good fushion food.

The restaurant's interior design was casual and unpretentious and not overwhelming. It seems to hint that the best is in the food, not the deco. Saw chef Wilin walking in and out of the kitchen in a hurried manner without much emotions.

I just wish to elaborate on the dishes we ordered. (The names of the dishes may not be the exact name)

1) Ribeye with truffle sabayon sauce-The ribeye was medium well and it melts in your mouth (literally!) Sabayon sauce later explained by the waiter was a whip mix of egg yolk and butter. We taught it would taste super rich but the sauce almost dissapeared into the air as we put it in our mouth! It was so light and fluffy and the combination was perfect. The fushion part was probably the sauce which looked like chinese mushroom sauce to me...

2)Deconstructed Strawberry cheesecake - It came in a martini glass and looks like someone smashed a triangular cheesecake into the glass. They call it deconstructed because it has all the ingredients of a cheesecake but piled up in an order where their individual ingredients all savoured individually and yet able to taste them together.

3)Sambal chilli angel hair pasta with seafood- The pasta was perfectly al dente. The sambal sauce was not overwhelming and the seafood was fresh. You can feel the Chef's attention to details as the ratio of seafood to spaggheti was just right. Suddenly you bite into something crunchy that feels like a shrimp, and then you bite into something chewy that feels like a mussel and it goes on.....full of juicy surprises

The service was high by Singapore's standards, from the minute we walked in till the time we left. We had a laptop bag that we could not find a place to put. Right away the waiter brought a stool for it. The waiter was patient in explaining the dishes to us. Halfway through they had the courtesy to come over to ask us how we find the food. (something we miss about Australia) They even offered to call a cab for us as we were rushing to somewhere else. When the bill came back they gave us a slip of paper and on it was the cab details. Now you have to know they did all these without being asked. Thats the wonderful thing that they impressed me, when you know a customer's needs without being asked.

The magic of Chef Wilin's creations does not lie in its taste as a whole but rather how things come together to create a balance that is just right to the palette. You can taste the asian part of the food in itself and also the western part, but yet the two come together beautifully.

I am now a convert and I dont believe that you need to have proper chef training to be able to cook well, as Chef Wilin as shown.

Food Review: Vietnamese Baguette

2009-01-25T22:12:00.003+08:00

I had this in Sydney a few years back when I was studying in Australia. I have never tasted anything like it before. The simple name for it is Vietnamese Bagguette. It is a street food that orginated from Vietnam during the French colonisation and what emerged from that era was a combination of western and vietnamese asian taste. Such a beautiful balance of tastes that teases your tastbuds. When I bit into it initially I could taste the the hams and patte, then slowly the tingle of chinese corriander and fish sauce started to set in. A western bagguette with chinese coriander and fish sauce! Strange but beautiful combination. I had been on the look out for it in Singapore since I came back. Recently I passed by a stall in Chinatown that claims to sell it. Judging from the ingredients I saw I decided to give it a go. It was 80% close to what I tasted in Sydney.

I take comfort in knowing that I can find this in Singapore now. :)

Movie Review: Australia

2009-01-01T01:03:00.008+08:00

Australia. A movie with a name like that creates expectations. I was not dissapointed largely. In essence it was about how the awesomeness of the land makes people fall in love within it and with it. It was primarily a story about the aboriginal people and secondary love story within. The movie was set during the war where presumely Australia was just discovering itself. The director protrayed Australia in the very setting which made me fall in love with it. The iconic and picturesque scene of the farmhouse sitting in the the big vast dry bush land with nothing but the unforgiving Australian sun in the sky.The dirty sweaty Australia where aboriginals cohabit the land with post convict white men at an uneasy time. It makes the bush seem like such a romantic, exotic and yet exciting place at the same time, where adventures are a part of life. Hugh Jackman and Nicole Kidman are just natural at thier Australian best. Hugh portrayed himself so well as the typical Aussie chavaunistic cowboy bloke. Rugged, unshaven, tough. Dialouge was unbashedly aussie with certain slangs and names that only the Asussie would understand, such as 'crikey' and 'billabong'.

I think people may have trouble understanding the bits about the mysterious aboriginals and the stolen generation. Unless you are Australian, you will never understand why it was such a big thing back then.

It is a big movie and thats how a big movie should be filmed. Lots of scenery, subplots that span a few years, and epic fighting scenes. The scenes where Hugh and Nicole escorted the hundreds of cattle over the dessert were simply classic.

The director chose not to showcase over touristy trademarks like the greeting 'Gdday mate' and the digeridu instrument. Instead of being crocodile duneeish, the lead character here was that of the Australian drover (cowboy).

One interesting detail was the inclusion of the Chinese servant (his name was Sing Song, presumely named after his Cantonese accent, which felt like he was singing song). Most people have the impression that Chinese immigrants only started flooding into Australia during the 80s migration boom. In actual fact during the prewar years around 1920s many Chinese already started streaming in to Australia for the gold rush. Of course they always end up being the servant or opening Chinese restaurants.

All in all its a beaut of a movie for those truly interested in the Aussie culture and history. The director who is Australian is the same talented director for Moulin Rouge and his trademarks of the 'musical' are in the movie.

What I miss about Australia foods

2008-12-31T18:39:00.010+08:00

If you ask me what foods I miss in Australia they would be: 1)Cheap yougurt 2) Cos lettuce and 3) Stone fruits(Mangoes and nectarines) 4) Cheap leg ham 5)Fresh white button mushrooms 6) fresh oysters 7)scones

Cos lettuce is similar to romaine lettuce used to make Ceasar salads. They are just nice to me, does not feel like you are eating nothing (iceberg) and still crunchy unlike butterhead. The Ceasar salad sauce sticks to the leaf nicely. How come I cant find cos lettuce in Singapore?????

And the fresh button mushrooms...oh my, lightly sautee them on the frying pan in butter for 3 minutes and they taste like heaven. You can eat them raw and they taste just as good. In Singapore you can get them a small box for 3.50 dollars. In Australia supermarkets, there is one big wooden crate of loose mushrooms in the chilled vege section and you can pick the freshest and put them in a paperbag and pay by weight. In Singapore it feels like an luxury food due to the high price, but in Australia they are considered cheap items which can be bought on an everyday basis because its so cheap.

My friend asked me if I will migrate to Australia just becuase of the food. He said he cant do that because there is just so much yougurt you can eat before you get sick of it.

As for me, if the above foods make me happy and I can live in a place where I can eat them anytime I want and anytime I feel like, WHY NOT? I just might migrate because of the food!

The art of Cantonese Porridge

2008-12-29T23:00:00.004+08:00

Just watched a Hongkong programme on making cantonese porridge. The programme made cooking porridge seem like such an art, and each step seemed so terribly tedious. Some stuff I learnt:

1) There must be 1 part old rice and 2 parts new rice. 2) The host mentioned using whole fish and fish stomach as the stock base instead of pork bones 3) Century egg must be added to the raw rice and mashed up before it is put on the stove because the century egg will help to 'open' up the grains

I dont think our cantonese porridge in Singapore is cooked like the above method. It is simply too time consuming and probably make a loss! haha

My dream home

2008-12-06T00:26:00.008+08:00

Its been sometime since I wrote, and today I want to write about my dream home. What is a home to you? How do you want to live? When is a house a home and not a house? I do not yet know what my dream home will look like, but I know bits and pieces that I would like to see in my dream home and the spaces that i envisage.

First, a home must must have a connection to the outside. I would love a verandah or a deck where I can engage the great outdoors, where I can wake up in the morning and walk out outo the open space and breath the fresh air. (not that possible in Singapore isnt it) It will be a place where I can sit in my lounge chair and read a book when the weather is right. It will be a place for breakfast on cool mornings. I miss the great Australian Verandah!

Secondly my home will have a courtyard. (once again almost impossible to have in Singapore unless you are willing to pay for overpriced property) It will be a place for my favourite Sunday afternoon barbecues and beer, just like in Australia. It will be a place for tea, coffee and biscuits.

A fireplace. This is definitely an impossibility in Singapore. A fireplace in Frank Loyd Wright's own words forms the 'hearth of a house'. It will be a place to cuddle up and read a book during winter. But I do not want a log burner fireplace(I cant imagine the soot)I want one of those cool looking modern gas ones that can turn one and off instantly at the click of a switch!

To be continued......

I am living through history!

2008-10-19T17:49:00.006+08:00

The past month in the financial world has been horrendous. The human race has unknowingly fallen into the worst financial crisis since the Great Depression. I will have the chance to tell my grand kids that I have lived through the 'Great Depression' of the Modern Era. Once again God has shown us how our greed can be the cause of our own downfall.

May God save America and the rest of us.

My Toshiba laptop

2008-10-03T23:20:00.003+08:00

When I bought this laptop in HK, I was informed by the shop that there arent that many Toshiba repair centres in Singapore. That got me a bit wary, until the salesman shared his theory with me. Less repair centres means that the chances of breaking down is less, and so you need less such centres! haha Anyway I bought it with a hint of cynicism. That was about 3 years ago I think and so far the laptop hasnt failed me in anyway. I am impressed with the laptop's unwavering stability and dependability. Maybe the sales man's theory was right after all!

ICT No.5

2008-08-29T23:59:00.004+08:00

Just attended my annual military training for 2 weeks. In the midst of training I met some nice people and not so nice people. The nice people were those with small considerate gestures that would have been easily forgotten, so I am making it a point to remember them:

1.The guys in my bunk who close the door ever so gently when others are asleep.
2.Alex who treated us to drinks when he saw us working our ass off.
3.Officer Loy who worked as hard as us the men and even more.
4.Officer Peter who amused us with his jokes and also proves that he can work as much.
5.Master Satthiar who I think actually has a kind heart despite his tough exterior, when he told us how he adopted a monkey who was lost.
6.Kenneth who provided me the bulk of the entertainment.

What I cannot stand:

1.the officers who changed into PT attire the first thing they stepped into camp, while the men were still washing their vehicles in their uniform.
2.The bunk toilets cleanliness and hygiene could be very much improved

Overall it was a good one, especially the 3 crazy days and 2 nights out in the jungle. I suppose not being able to shower for 3 days makes it really memorable and brings back the memories of the good old days....

Feng Shuit

2008-08-13T22:30:00.003+08:00

I think by now most of you would know that I only write about stuff that I feel really strongly about. I dont write about the things I do everyday, because I simply got no time for that. Today I have been itching to write about this topic for along time., one of my pet peeve: Feng Shui

In some of my projects, people have asked me to design their homes according to the FengShui master's advice. Sigh, in the end the homes turn out to be a terrible mess. Why is this such a big thing in Singapore when it isnt even practiced in China, the mother land of ancient chinese principles? If you ask me personally it is just a gimmick invented by humans to make money from other humans. Some of it is simply common sense: dont face the sun, dont face the door, bedhead face abutting the wall...but some others requirements are simply FOS, like your masterbedroom must use the smaller bedrooms, etc....

I am ever so concerned that others may misunderstand such designs as my own input.....Well I guess this is something I have to live with in a society of unbelievable irony.....

Beijing Olympics Opening Ceremony 080808

2008-08-08T22:17:00.005+08:00

I am so surprised at the quality of the Opening Ceremony. I was expecting a cheesy cheena presentation with lots of ethnic costumes and lots of red...

What I saw tonight is an amazing marriage of special effects and human orchestrated movements that showed the world what the New China can do. I am impressed and I would say this is the best opening so far of all the Olympics Openings I have seen...

I am so glad i caught the opening. Being a chinese myself, seeing how my motherland has presented itself to the world made me proud for being a chinese. All this can be attributed to one man: Zhang Yimou, who choreoraphed the entire show. It was an artistic mix of lighting and computer graphics together with few thousand chinese made the entire event look like a fairy tale and virtual reality come true. This is really inspiration to my artistic sense what the human brain can imagine. I have increased my respect for Zhang Yimou 10 times and I think I will gladly give up all I have if I have the chance to learn from him.

The best parts I like:

fireworks in the form of giant footprints 'booming' their way along the city axis into the stadium. it was not just the stadium. The entire axis of the city was coordinated with fireworks and lighting all the way to the stadium.

The 'scroll', which was used over and over again in different ways you can possibily imagine. Here Yimou has created scenes using colour, graphics that represent the 4 great inventions of China- the ink paper, printing, gunpowder and compass

As I always say, God is in the details, and the amount of detail is incredible, like the costumes that are just like in his movies. Not 100% traditional chinese , but with a slight twist such that they look like they almost belong in a mythical style. It makes China seem like such a mythical country.

If you ask me, it feels just like a great piece of artwork, instead of an event.

The 'Birds nest' is a great piece of architecture that almost seems as if it is designed for the night. The changing light shines through the holes of the nest and creates a glowing sculpture, once again a piece of art. You will never see a stadium as abstract as this. Now I truly appreciate the design intent of Herzog and Meuron, the architect.

All in all, I will watch it over and over again, except for the very draggy part here the athelethes march in. (that part gets boring after a while but it is tradition I suppose)...

What does your insurance agent invest in?

2008-08-07T19:14:00.003+08:00

Have always wondered..…Real estate agents keep selling houses. I wonder if they actually practice what they preach? Was talking to a Australian real estate agent recently and he was saying how good the Australian market is, how people are snapping up houses left right centre and when I probed further, he admitted he only had 1 investment property besides his own house, and the 2^nd property is an old house shared by his sister. If the market is that great and if he had first hand news on all the properties, how come he has so few properties? No money? Unlikely, this guy is about 40 yrs old and he should be able to know how to tap bank loans….

It would be interesting to find out the investments of housing agents, insurance agents and bankers to see if they really practice what they preach.

Movie Review: The Dark Knight

2008-07-20T18:08:00.003+08:00

I was blown away by his potrayal of the Joker. Totally insane, twisted sense of humor but yet maintaining a childlike quality at times. You could not tell it was Health Ledge beneath that mess of a makeup. The Joker is basically a scizophenic and Health's potrayal hints of a character who exhibits compulsive obsesssive behaviour as shown by his subtle sticking out of his tounge and cusping of lips when he speak.

It is surreal to watch someone on screen who has just reccently died. After avidly cathching his movies from the the first to the last, I kinda grew along with him, watching him rise from a TV actor to a box office regular, and lastly to his demise. It is sad that such a man of his talent and success has no one to turn to in his darkest hours.

Difference between leasehold and freehold properties in Singapore

2008-06-12T14:10:00.001+08:00

In summary, the more expensive may not be good, but the higher yield may not be better. When buying properties, you should at least consider the following factors and weigh your options:

Price. Freehold properties are generally more expensive than leasehold properties, due to the fact that the land tenure for freehold properties lasts, well, forever (barring exceptional circumstances).
Rental yield. Because the rental value usually depends on factors like location, amenities, how old/new it is, and even architectural design and interior design, but not on land tenure, rental yield is usually higher for leasehold properties. Say, a freehold property costs $1 million and fetches $4,000 in rental per month. Its rental yield is 4.8%. A similar property with a leasehold tenure might cost just $600k but fetch the same amount of rent. This gives you an 8% yield!
Value. A simplistic rule of thumb is that a leasehold property’s value will decrease by 1.5% in value every year. Freehold properties generally appreciate in value over the years (which is probably why property tycoons get so rich). Note that you can now use CPF to fund your leasehold property purchase as long as it has a Minimum Lease Period of 30 years, subject to certain conditions (see CPF properties scheme for details). Prior to the CPF policy change, the minimum required was more restrictive, at 60 years.

http://www.salary.sg/

2008-06-12T13:56:00.000+08:00

Good website on money matters in Singapore....easy to read and understand..

http://www.salary.sg/

Movie Review: Prince Caspian

2008-06-10T08:46:00.001+08:00

Narnia for me was a journey back to childhood, as I had read CS Lewis the Witch the Lion and The Wardrobe. The storyline for this sequel was not as compact as the first, but nevertheless equally entertaining. The special effects were so real, such as the centaurs and the half men/half donkey. It was exactly what I had imagined the characters to be like from the book. The battle sequences were awesome, with the camera following the line of action many times. But if you are a boring practical fart and not into fantasy, I suggest you don’t watch it, cos you wouldn’t imagine that they are real in the first place.