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 Working Life in Singapore V3, FAQs, experience sharing, meet-ups

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seantang
post Apr 5 2010, 11:39 AM

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QUOTE(bloggerblue @ Apr 5 2010, 09:59 AM)
$3x5x4 = $60/month, is it worth to save this money, but has to compensate with time...

Worth it? Wow... your time quite cheap leh.

seantang
post Apr 6 2010, 11:41 PM

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I've got Malaysian and Singaporean credit cards. And unless my bank decides to foot the credit card tax, I'll be giving up my Malaysian credit cards in favour of a debit card. It's against my religion to pay Najib RM50/year just to have a credit card.

Anyway, the foreign currency transaction surcharge and/or transaction exchange rate on Singaporean credit cards are ridiculous. It's really expensive to use Singapore credit cards to shop overseas. I usually buy foreign currency if I want to shop overseas.
seantang
post Apr 7 2010, 09:21 AM

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QUOTE(Shinichi @ Apr 7 2010, 09:03 AM)
Hi all, is it harder to enter MNC compare to local or chinaman companies in SG?

Just curious...
*
Difficult to compare objectively. These companies target AND attract different types of employees. Just look at all the ''work for large or small company'' threads in this forum. The sample groups are not common.

Besides, what's hard for you might be easy for me, and vice versa.
seantang
post Apr 7 2010, 05:56 PM

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If you want to sell your car, you should sell now.

My thinking is that the last 2 rounds of big COE increases are caused by car dealers who collected bookings with "guaranteed COEs" - for cars with long waiting periods (eg. Kia Koup, VW Scirocco are 6-9 months). However they were overconfident and waited for the cars to actually arrive in Singapore first before bidding for COEs. Now they know they are screwed because the people who booked paid only $1000-3000 more than the normal price for the guaranteed COE, whereas the COE has gone up by $30,000.

The new guaranteed COEs bookings are much more expensive or dealers are simply not taking such bookings anymore.

So, once the dealers finally secure all the necessary COEs to fulfil their previous COE-guaranteed bookings, the subsequent CEO bidding exercises should be more muted.

This post has been edited by seantang: Apr 7 2010, 05:58 PM
seantang
post Apr 7 2010, 07:42 PM

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QUOTE(Supreme Allied Commander @ Apr 7 2010, 06:10 PM)
Now comes the hassle of looking for used car then the interim period of taking (b)us (m)rt and (w)alk which i havent done for some time lol.  The thing people are also using this opportunity to increase used car prices.

What's the point of selling your used car to take advantage of higher COE, and then buy another used car from someone who's also taking advantage of the higher COE?

Or are you saying sell your car now, and then buy another car some months later when the whole COE thing cools down?
seantang
post Apr 8 2010, 11:37 AM

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QUOTE(J(o)y @ Apr 8 2010, 11:15 AM)
Out of curiosity, why they reject wen ppl have AIDS? isn't it outright discrimination?

No country in this whole wide world practices an open immigration policy, where they accept all comers.

ALL countries practice a selective immigration policy and reserve the right to refuse residence to anyone they deem to be an undesirable addition to their population.

As for whether it is discrimination... I think that's debatable.

At what point does the right to choose the best option in your best interests end, and the obligation to preserve somebody else's best interests begin?


seantang
post Apr 8 2010, 04:08 PM

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QUOTE(Supreme Allied Commander @ Apr 8 2010, 03:58 PM)
i only have one question which is most important for me  , can bring 'friend' back ?

Typical Sg answer if living with landlord is "Can. But cannot make noise. Your friend cannot use water, cannot use electricity and cannot sit/wait outside your room."

seantang
post Apr 10 2010, 10:27 AM

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Can't remember if I've posted this before. But it's a pretty good measure of how well you are doing relative to other folks in Singapore.

Attached Image
seantang
post Apr 11 2010, 01:28 AM

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Take a look at childcare centers, kindergartens and primary schools. Lots of mums picking up their kids in the middle of the day. Lots of housewives. And lots of tai-tais too. The dimsum places during working hours testify to that. So there are a lot of households in Singapore with just one income. There are also a lot retiree households in Singapore too. So, I wouldn't automatically divide the household income by 2 to get the individual median. In my opinion, the household median should be a good indicator the individual median.
seantang
post Apr 11 2010, 08:14 PM

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QUOTE(chess_gal @ Apr 11 2010, 08:08 PM)
I dont read stomp, complete waste of time. The issue posted are so petty and trivial, more of a gossip site.

Agree. I stopped reading a looong time ago when the dickheads there started applauding each other for referring to Foreign Talent (FT) as Foreign Trash. It's just a PR and EP/WP holder bashing website.

seantang
post Apr 11 2010, 09:08 PM

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This came out on April 7. Interesting read: Graduate Employment Survey 2009 (published 2010)
seantang
post Apr 12 2010, 11:14 PM

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QUOTE(XiaoWanZiAhNee @ Apr 12 2010, 11:04 PM)
My company din provide us with payslip, so if we really want to apply PR we still have to beg the boss for the testimonial.

Aiya, you've got tax return lah. Use that... all your income information is there.

seantang
post Apr 13 2010, 07:50 PM

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QUOTE(Joshua_0718 @ Apr 13 2010, 06:08 PM)
Correct me if I am wrong, I can see in account industry, most of them are 3 months notice?

You mean accounting industry? No lah. 1 month is the norm.

In any case, nobody should ever sign or accept a contractual notice period as onerous as 3 months. It practically excludes you from being hired by another company even if your interview was successful. Well... unless you are very, very good - so good that the new company is willing to wait or pay off the notice period.

----------------------------------

Btw, just saw this ad... looks like the banks in Singapore are back in business! Good job for accountants who want to venture into investment banking.

QUOTE
As a result of the continued expansion to this investment banks global finance centre, a position for a cost analytics professional has arisen within the Cost Control Function.

This position will be part of the change team responsible for the regional work of change within Asia Pac Finance. Change team reports into global change heads in London and regional Finance heads in Singapore. Many responsibilities listed below will be handled in cooperation between the global and regional change team.

Infrastructure & Cost Analytics Director
Monthly Salary up to SGD 25000 + bonus
(Singapore)

Responsibilities:

Ā  Ā  * Project design and management.
Ā  Ā  * Analyse & design project scope(s) and high level business benefits.
Ā  Ā  * Deploy a project toolkit, e.g. benefits & investment cases, project planning tools, resource usage, issues and risk logs.
Ā  Ā  * Manage and report project progress.
Ā  Ā  * Conduct business analysis.
Ā  Ā  * Provide guidance to stakeholders on effective and efficient approaches to achieve business objectives.
Ā  Ā  * Develop and validate business cases.
Ā  Ā  * Provide relevant assistance to the production of business requirement & technical design documents or key operating procedures.
Ā  Ā  * Change Governance.
Ā  Ā  * Propose change opportunities.
Ā  Ā  * Apply Finance-wide change methodology frameworks and toolkits.
Ā  Ā  * Intradepartmental co-ordination.
Ā  Ā  * Develop appropriate forums for co-ordination and communication with impacted
Ā  Ā  Ā  stakeholders.
Ā  Ā  * Sourcing Management.
Ā  Ā  * Work within service level framework to formulate sourcing plans that enable best in practice processes. Contribute to development of framework where applicable.
Ā  Ā  * People Development.
Ā  Ā  * Strategy Development.
Ā  Ā  * Co-ordinate strategy development with internal stakeholders including e.g. HR, GTO
Ā  Ā  * Participate in definition and monitor execution of change strategy
Ā  Ā  * Conduct regular reviews of strategy and amend.
Ā  Ā  * Develop and agree an overall communications strategy in accordance with the function’s overall strategy.
Ā  Ā  * Establish the means of communication most relevant to individual stakeholder groups; e.g. townhalls, intranet, stakeholder meetings.
Ā  Ā  * Control Framework Design.
Ā  Ā  * Assess the operating model for inherent control weaknesses.
Ā  Ā  * Identify key control functions and processes.
Ā  Ā  * Review efficacy of control design principles.
Ā  Ā  * Establish good working relationships with control oversight functions in other parts of the firm.
Ā  Ā  * Assess adequacy of control monitoring.
Ā  Ā  * Establish escalation principles for significant control / design weaknesses.
Ā  Ā  * Business Continuity Planning.
Ā  Ā  * Develop and validate a detailed Business Continuity Plan (BCP) drawn from each Finance group/geography.
Ā  Ā  * Regularly review and update BCP testing schedule.

Requirements:

Ā  Ā  * University degree in Finance, Business Management or Economics qualification
Ā  Ā  * Minimum 10 years experience in Financial Services
Ā  Ā  * Management Accounting / Cost Accounting knowledge
Ā  Ā  * Project Management experience
Ā  Ā  * Experience in multinational matrix organization
Ā  Ā  * Teamwork and organizational influence
Ā  Ā  * Organizational and team leadership
Ā  Ā  * Strategic thinking and realization
Ā  Ā  * Analytical thinking and problem solving
Ā  Ā  * Business judgment and acumen
Ā  Ā  * Professionalism and integrity
Ā  Ā  * Entrepreneurial initiative and action

Working Location: Tanjong Pagar

Interested applicants should please forward detailed resumes in MS Word to Jin Chee at jin@pconnection.com.sg or call (65) 64382993.


This post has been edited by seantang: Apr 13 2010, 07:56 PM
seantang
post Apr 13 2010, 09:12 PM

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QUOTE(Aloong @ Apr 13 2010, 08:16 PM)
The job advert seems it have a longest JB i've ever seen!!  I do know normally actual JD is longer than advertised JD, but this is long

Just a case of bad editing by the recruitment agency. A lot of the items mean the same thing but explained differently, or are superficial. Things that anyone at that level of responsibility will do anyway. It's basically a cost analyst job.

seantang
post Apr 15 2010, 01:38 PM

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QUOTE(zom @ Apr 15 2010, 01:12 PM)

Ya, I think that will put an end to the S$ slide.


seantang
post Apr 15 2010, 11:52 PM

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QUOTE(G-ShoCk @ Apr 15 2010, 11:45 PM)
Hye, it seem that this thread is overwhelming with question and answer..good support from all the sifus

Anyway, i would like to ask..is there anyone here working in oil and gas business, i currently looking any possibility to get a job in SG..how the current business trend? does for non PR people got their chance to fill in??

Working in malaysia is ok..but after i being transfer to sarawak, aiyoh, it does killing me slowly..still prefered to be somewhere is semenanjung, or maybe Sg...then no need for me to keep of flying back to KL

smile.gif

Singapore just recorded a 32% qtr on qtr GDP growth. Govt wants to raise interest rates and exchange rates to fight inflation. Housing prices are at post-recession record levels and still going up. The union chief just called on the private sector to increase CPF contributions because of "good times". I'm starting to see finance and accounting job ads offering S$200-300K per year becoming daily routine again.

In a word... current business trend not bad lah.

This post has been edited by seantang: Apr 15 2010, 11:53 PM
seantang
post Apr 16 2010, 12:13 AM

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QUOTE(wlcling @ Apr 15 2010, 11:54 PM)
sien la... how to afford to buy house like thisĀ  sad.gif ...the more i save the more expensive it gets... just can hope more measures come out to cool the property market...

Wait & see... the old hands in my company are thinking that something will happen later this year, early next year... when all the projects launched in the past 3-4 years get their TOP in the next 12 months. And the people who bought those units at 2006/2007 boom-time prices will need to start paying those loans (majority are deferred payment loans). Imagine you buy a condo at 5 million using a deferred payment loan of the same amount. But now when you need to start servicing your 5m loan, your unit is only worth 2m or 3m. Even if you sell/flip, you can't pay back the loan principal. And many don't have power to service the loan. They will probably walk away, then you have the bank making a lot of distressed sales. Also damn bad timing for them that the govt wants to increase interest rates.

Also one more thing. the extradition treaty between Sg and Indonesia should be ratified soon. Rich Indonesians who bought property in Singapore are getting jumpy. They have long been accused of siphoning dirty money out of Indonesia and laundering it by buying Sg property.

China is already investigating mainlanders who bought property in HK. Apparently the RMB is NOT supposed to flow freely out of China, especially if it is not taxed or declared. Maybe... maybe not, but if the Chinese govt decides to pursue the mainlanders in Singapore... rclxm9.gif

So, don't worry... wait & see lah. In the meantime, park your money in SPH or SMRT etc while you wait.

This post has been edited by seantang: Apr 16 2010, 12:43 AM
seantang
post Apr 17 2010, 10:44 AM

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QUOTE(Mackiddo @ Apr 17 2010, 09:03 AM)
that's why we should buy ASAP if eligible. even if you keep it for a couple of years, you still make money. the best is rent out a couple of rooms and that rental itself will most likely to cover the monthly installment.

HDB yes, condo no.

For condos, delaying the purchase a few years in order to accumulate savings (net of rental paid) means that you can put down a larger downpayment, take a smaller & shorter loan and pay less interest. You need to work out the sums, but it's definitely not as simple as ASAP.

And if you notice, the economic cycle has tightened (ie. shorter period between each boom and bust)... so it makes real financial sense to time your purchase to take advantage of price fluctuations.

seantang
post Apr 17 2010, 10:53 PM

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QUOTE(SPS @ Apr 17 2010, 10:14 PM)
Agreed and that's why so many PRs are so keen to purchase HDB units the moment they have sufficient funds to do so - yours truly included.

Without a family, I have to take up Singapore citizenship to be eligible to buy a resale HDB flat. Much too big of a step to take for the sake of a flat.

seantang
post Apr 18 2010, 12:21 AM

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QUOTE(alaskanbunny @ Apr 17 2010, 11:55 PM)
single singaporeans can buy hdb meh?

There are a few conditions, but yes.


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