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 Working in Singapore V10, Serious Talk only. no chatting

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Aloong
post Feb 3 2012, 06:11 PM

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Not sure I shd discuss this here or in Investment thread.

For those of you earning in SGD, can share what is your investment portfolio likes to grow your savings "safely"?
Any advise on "safe" investment, like FDs, bonds, unit trust, blue chips equity, etc etc?

Lets not talk about transfering to Msia for investment, as I beliv we've discuss that before, and it boils down to how certain you are on the excahnge rate movement and where u gonna use ur money eventually. I'm discussing about invest / building flex.gif the money in SGD for future SGD use.

What I know is, blue chip stocks are pretty okay, provided you choose the safe ones and go in at the reasonable price. i guess 4% dividend yield is pretty decent in SG. But lets not put all eggs in one basket, cos it would look more coloful with diff types basket? no? thumbup.gif

Im not sure about FD rates, but i heard it's less than 1%, probably 0.5%? Anyone knows?

Hows the unit trust market here or the bond market? hmm.gif

Lets not discuss about property as well, as that's a big item, unless ur talking about REITs. Any recomendation?

If you guys feel this discussion is too wide to be put here, I can creat a new thread for Working in SIngapore: Investments Options, under the Investment thread.
Aloong
post Feb 8 2012, 06:05 PM

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QUOTE(ivanswk @ Feb 7 2012, 06:25 PM)


Added on February 7, 2012, 6:27 pmbetter apply now, some rumours brewing in expat forum might be new policy coming in June
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That's interesting to know. Care to share the link here?
Aloong
post Feb 9 2012, 03:47 PM

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QUOTE(sylar111 @ Feb 9 2012, 03:43 PM)
Just curious. I am looking for a position in Singapore. My expected salary is SGD4500. But my friends told me that most of her friends request between SGD 3 - 4k. I am in the IT line and I am a J2EE developer. Do you think I am asking for too much?
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Yes. Because based on information provided, 2 person asking (since u said friends, plural) between $3-4k and u asking $4.5k. so obviously u will be the 3rd choice.
Aloong
post Feb 9 2012, 04:02 PM

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QUOTE(Shinichi @ Feb 9 2012, 12:20 AM)
Hi all, since I think all here been working in SG for some time (long or short), may I know where do you invest your money? MY or SG? And which area do you invest in?

Thanks.
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Generall decision between MY or SG would depend where u intend to use your money in the future?
Are u goin to be for next 5 or 10 years? are u goin to buy property here? or are u goin to buy big property in Msia?

Unless u know between SGD or MYR which one will go up? i would think both have chances of goin up against each other. flex.gif

Reason for SGD to go up -> interest rate very low, there's no other way than goin up. Int rate up, currency up.
Reason for MYR to go up -> a lot of infrastructure projects potential and they are oppening up to attract more FDIs. More FDI, more MYR demand, MYR go up.
Reason for MYR go up -> It is closely benchmarked to USD. USD go up, MYR go up. WHy USD go up? Cos it is a safe haven currency for western investor demanding treasury bonds, as opposed to EURO, GBP and arguably the other carry trade fav, Yen. Further, US economy looks more positive recently.
Reasons for MYR to go down -> gomen sucks, and will deter FDIs from pouring in.
the list will never end...

In terms of specifically what area to invest in MY or SG, I asked this before, but was suggested to open a new post under the Investment thread.
If u dun mind you can do the honour. thumbup.gif
Aloong
post Feb 10 2012, 01:51 PM

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QUOTE(Mackiddo @ Feb 9 2012, 08:03 PM)
i don't think mobility are limited. in fact its better here. atmosphere wise, i like it here  biggrin.gif
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of course lar, u driving mah
Aloong
post Feb 10 2012, 04:50 PM

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QUOTE(icycokes @ Feb 10 2012, 03:41 PM)
Thanks for the input. I'm trying to gather more information with regards to the recruitment firms/headhunters in SG as I have an interview with them for Search Consultant position.

Any more inputs?

L7Awesome, mind to share your experience with them? How did they found you? Did they headhunted you from Msia?
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wow, potential HH spotted. no experience with them.
Aloong
post Feb 11 2012, 10:46 AM

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QUOTE(icycokes @ Feb 11 2012, 04:48 AM)
Pardon me.. But what is a HH? Do you think they are loathsome or annoying? Like all those uninvited calls.
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Headhunter.
Actually it depends on ppl and the situation they are in.
If you're looking for a job, of course you'll be happy a headhunter call u
If you're not loking for job, of course you will feel annoyed.
The advise would be if the person says they are not interested, dun push them to consider an opportunity, and offer to keep their details in database.
If they dun want to share info, then u better just stop there.
I think during these economic situation, you're challenge is looking for a company to take ur candidate, rather than looking for a candidate to accept a company.

Aloong
post Feb 15 2012, 02:03 PM

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QUOTE(katejing @ Feb 14 2012, 11:15 PM)
Because my frens say there investment bank seldom recruit malaysian..got any job hunting website can recommend?
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wow, i see newbies are getting smarter nowadays, putting female tags.

And as for ur questions. I totally disagree, in fact a lot of investment bankers here are Malaysian, including higher levels. Couple with other foreigners.
PRC Ibankers are building up oso. SO locals (and i mean true blue locals, non-citizen cenverts) are in fact dwindling.

The problem is banking (including IB) recruitment is on a downtrend. every IB or banking jobs u see and apply, chances are there are 100 others competiting w u. And its about experiences, contacts / networks u can bring in, and hit the ground running.
If ur thinking u have 10 yrs of experience, so applying those with less than 3-5 yrs, will give u higher chances u r wrong. They want exact match.

For further understanding of the job markets for bankers, u can check out articles in eFinancialCareers.sg. It's doom and gloom for banking.
If ur lucky enuf to get a job here, make sure u perform 150%, and bring in the revenue / cost down the cost at day one (depends on ur job scope), if not chances are LIFO. No 2nd chance no learning time

Aloong
post Feb 15 2012, 02:17 PM

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QUOTE(ivanswk @ Feb 15 2012, 09:11 AM)
user posted image
are u the opportunist ?  rolleyes.gif
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im just curios how the hell u get all the pic so fast?? ur bos not around all the time??
Aloong
post Feb 15 2012, 02:28 PM

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QUOTE(katejing @ Feb 15 2012, 02:10 PM)
What means by putting female tags??

So hard for Malaysian fresh students?
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i shall not comment on the female tags, but i beliv most regulars here understand wat i mean.

Fresh grad is even harder. Malaysian uni, make it even harder. If u have a master in finance / statistics maybe will up ur chances a bit, and i dun mean general MBA. My advise work in local IB first, if u can get it. Malaysia IB is prospering. If I get the choose, i would prefer work in Msian IB, its prospering. More foreign banks are being invited to open up in Msia. Return is always higher for developing country, and that applies to employees also. Most importanty, retrenchment risk is way lower, cos u have a lot of weak perfromer as ur buffer.
Aloong
post Feb 17 2012, 04:29 PM

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QUOTE(totti 10 @ Feb 17 2012, 02:20 PM)
well, about my interview earlier this week, i pretty much spent  about 30minutes getting killed and owned by the GM, where he boldly mentioned that I am not adaptable, not flexible, and technical minded ( he is is looking for someone with more commercial minded). Sent a thank you letter the day after the interview, and the HR said will revert to me by Friday(today). But today the HR said still cannot conclude their selection yet. My guess is that, I did bad, but the others did worse. lol
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Yeap, if u show u are commercially minded, he will say u not technical enuf.
If u can show both, they will say u are overqualified than our expected level, would u consider reducing ur pay to our expected level.
Aloong
post Feb 17 2012, 09:44 PM

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QUOTE(ad3rb33n @ Feb 17 2012, 08:37 PM)
ya i still ard....close to 14k(inclusive of allowances+bonus, which is taxable rite?)
so i still have to pay 1st then only get the rebate?

still a bit  rclxub.gif
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If i could recall, salary below $20k, no nid to pay taxEither u or ur company would need todo filing though
Aloong
post Feb 18 2012, 11:09 PM

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QUOTE(ad3rb33n @ Feb 17 2012, 09:48 PM)
ya that is resident tax rite? but i stayed less than 183 days for last year... so categorized under non-resident which is entitled to be taxed 15% or progressive tax structure(for resident tax) whichever higher? that what the iras website said... that y i confused
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Nope nothing to do with resident or NR. Just give a call to IRAS.
Aloong
post Feb 19 2012, 11:52 PM

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QUOTE(sapapa @ Feb 19 2012, 04:04 PM)
Yea, GIRO = IRAS, the income tax building at Novena
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U mean this:

http://www.iras.gov.sg/irasHome/page.aspx?id=1278

INstallment payment for tax?
Aloong
post Feb 20 2012, 11:55 AM

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QUOTE(tanch78 @ Feb 20 2012, 11:42 AM)
After your train ride in Mumbai, you will say MTR in SG, HK and Japan very good. KTM/LRT in KL not bad also. tongue.gif

Actually you can advoid the crowd if you leave home a bit early.
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or go out later. i took train at 8.45. a lot of breathing space, but i miss the auties.. drool.gif
Aloong
post Feb 21 2012, 02:08 PM

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QUOTE(keelim @ Feb 20 2012, 04:32 PM)
1.How would Sg salary payslip/notice of tax assessment be assessed by the banks in Malaysia for property?

I guess it depends on ur company name. if it's ABC Pte Ltd, they may want to call up ur company to verify and verify the company's existence as well.
Banks has a lot of ways to verify, depends on the offier's intelligence, they can access ACRA and find ways to verify. In terms of information resourcefullness they are better than their govt. The govt might be stuck if u give them SG payslip, dunno wat to do. sweat.gif

2.To what extend does the currency exposure taken into account for leveraging purposes?

I dun think this is an issue, unless ur salary is border line. For e.g. ur pay SGD2k, but ur house instalment RM4k. If ur installment is RM1k like tat shoould be no problem.  In fact ur installment is secondary, house value is primary. Unless ur not talking about residential prop. Commercial property would be a diff valuation / credit assessment.

3.Any additional collateral required for the loan or does the purchase has to be confined to specific towns (i.e. JB)?
Other than ur house and ur indemnity (i.e. personal guarantee), i dun think so. I dun think so confied to JB. Klang valley would be much much better.

4. In the event one has purchased a property (commercial/residential) in Msia (with or without the name signed on the dotted lines), how does this 'existing' property affects future purchases of Sg. public housing?

Not signed dotted line? SO technically one hat NOT purchase rite? Anyway, if I'm not mistaken, if u officially have a property (anywer) u cannot buy HDB, i think there's few months for u to dispose or transfer ur property out. After u buy HDB, i think u cannot buy properytu (anywer) for next 5 years.

5. Under specific clauses, is HDB authorized to expropriate the public housing if found statutory declaration was intentionally/unitentionally misrepresented by the owner?

I 'heard' yes, (or rather 'read' yes from forum)

Anyone has specific experience to share?
Not me. No $$$

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The above is my opinion to ur question. I guess u shd buy a HDB first then buy a property in Msia the next 5 years. or temporary transfer ur property to other family members.


Added on February 21, 2012, 2:17 pm
QUOTE(deodorant @ Feb 21 2012, 09:42 AM)
should be ok. my friend holds sleeping directorship in his family business for uh ... tax purposes (lol). when he started work in a bank in SG, they were OK with it as long as he signed some declaration forms & his manager & compliance approved. EP process not affected.
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i think alaskan issue is whether 'WP' can hold directorship in SG, in addition to employment. and whether there any issue with MOM.
Banks declaration are only concern with MAS's concern on conflict of interest, not MOM.

Logically, there's a lot of foreign directors here, but dun think they are "WP", maybe EP.

Btw do they hold EP or something else?

Wat if they get director fee instead of director salary? are they employee, can get EP?




This post has been edited by Aloong: Feb 21 2012, 02:17 PM
Aloong
post Feb 22 2012, 12:56 PM

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QUOTE(deodorant @ Feb 22 2012, 11:35 AM)
Non-SPR, he relocated to SG for the RIM job then kena retrenched after 3 months doh.gif
Are you sure it's not actually "pretty chick kena sandwich by you?" biggrin.gif
I dunno why he having so much trouble finding job. Possibly cos his qualifications don't balance with his (relatively) limited job experience so companies don't wanna even consider him for junior positions? *shrug*
yalor he camping out with his family in kluang while applying.
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It seems to me that ur fren is oso choosy.
If after 6 month oso cannot find, no nid to insist maintaining his last drawn salary. Even if 50% if his pay go for it.
Malaysia oso cannot find job meh? SHould be easier there.

I think goin for junior position is easy, as long as he dun ask for his existing pay or inissting not more than 30% pay cut.
Qualification is not a barier, he can just delete it out. Can delete Master can even delete his Degree. Unlike experience, which is hard to delete.
My advise is beggers can't be chooser, unless he is wealthy.
Aloong
post Feb 22 2012, 05:12 PM

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QUOTE(totti 10 @ Feb 22 2012, 03:27 PM)
owh i didnt know that we can do this. ho much do they charge per withdrawal?
can we withdraw money from Maybank MY using Maybank atm in SG too?
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yes, u can.
u nid to give a call to Maybank Msia first.


Added on February 22, 2012, 5:13 pm
QUOTE(Tigerr @ Feb 22 2012, 02:01 PM)
wait JB king sees this.....he will sure  vmad.gif
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nah...he won't have the time.
Chances are his armies will see it first and kill me, before it goes to the king.


This post has been edited by Aloong: Feb 22 2012, 05:13 PM
Aloong
post Feb 23 2012, 12:06 PM

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QUOTE(alaskanbunny @ Feb 23 2012, 12:40 AM)
my hr called up mom and they mentioned as long as i dont attend meetings or sign documents... if dont attend meetings or sign bod resolution how to make approve decisions?
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wow high krass bunny..
hmm.gif if u dun join any meetings, but still become a director (exec or not) its very risky.
company bankrupt oso u duno.
not necessary all directors must sign. sometimes 75% approve is enuf, depend on company Memo & Article of Assoc.
i guess they wan u to fit into the number of directors, but seriously high risk, but if high gain can take the risk lar


Added on February 23, 2012, 12:19 pm
QUOTE(PepsiCo @ Feb 23 2012, 01:17 AM)
the thing about hospitalization plan is, now you don't need it but once you are old and retired, the insurance company will not insure u anymore.
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ur rite...the older ur are the harder / more expensive to start insuring.
But i think in Singapore medical insurance got no age limit one. gotto check which one, i heard NTUC. but premium of course higher lar. can pay from cpf.

As for Ivanswk's fren, the concern would be diff. The concern would be risk of something happen during the next 20 year before the new member start to earn a living. The question would be what u "need" to get when that "risk" materialises? How much of that "need" can be taken care by existing insurance + company insurance. Look at the difference (called as extra need) and see whether u can scale it down to what u really need. Accordingly scale down the premium obligation in line with the scaled down needs.

Sounds easy theoretically...but insurance is a dam complicated animal..


This post has been edited by Aloong: Feb 23 2012, 12:19 PM
Aloong
post Feb 24 2012, 10:43 AM

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QUOTE(tgrrr @ Feb 24 2012, 05:59 AM)
Hi,

Question for the experts around here.

I've recently gotten an offer that comes with I think OK salary plus a small housing allowance of SGD870 per month. It's an engineering position, office is somewhere in Jurong. Salary still negotiable but I'm wondering if it would be worth it.
Reason being, I'm not at all keen to share a place with other people, unlike where I am now where I can stay comfortably and cheaply.
The cheapest place in Singapore I can find online to rent a whole unit of HDB is like SGD2000 to SGD2500, whereas a private apartment is something like SGD3500. Are my numbers correct? Would appreciate if you guys can let me know if otherwise.

Also, I'm wondering if there are any legal rules that prohibit the renting of whole HDB flats to foreigner (i.e. PR, non-PR), and thus I must rent a private apartment/condo only which will be much higher than my current estimate? Assuming I'm staying alone, without a partner, parents or otherwise. I'm wondering because HDB flats are after all provided for the purpose as public housing...
Thanks!
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I think rental in jurong shd be cheaper, especially u dun rent somewhere near to train station.
Yes, renting whole unit can sometimes be illegal, depending whether it's approved or not.
But on average, an approved 2 bedrooms whole unit HDB, 2K shd be reasonable.
If u can find those illegal, lock one room and far from train station, 1.5k shd be sufficient.

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