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 Working in Singapore V15

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seantang
post Dec 21 2013, 04:06 PM

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QUOTE(razo2 @ Dec 21 2013, 11:59 AM)
What kind of company gives 13 months bonus?
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Banks, performance bonus if you bring in a lot of business or make them a lot of money.

seantang
post Dec 21 2013, 11:47 PM

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QUOTE(razo2 @ Dec 21 2013, 07:16 PM)
7-9 months ??!! drool.gif  I was told by my landlady that Keppel bonus is crazy good. She worked there before.
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SG's ship & rig builder GLCs pay higher discretionery bonuses but less basic compared to other GLCs. I understand it's because of the relative uncertainty of their cashflow and order book compared to GLCs like SPH or the telcos for instance. Overall in an average year, both have generally the same annual (risk adjusted) package.

seantang
post Dec 31 2013, 12:27 AM

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QUOTE(waynefly @ Dec 30 2013, 09:30 PM)
Hi guys, want to ask if the company can offer me SGD 4000 above but Ido not have any diploma or degree but only Professional Cert.
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Tell us what are you are willing to do for $4000, and we can tell you if what you do is worth $4000 or not.
seantang
post Dec 31 2013, 12:36 AM

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QUOTE(LalaBubbles @ Dec 31 2013, 12:23 AM)
Anybody got lubang in the Food Industry or something to do with laboratory?
No much lucky for the past months....
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Have you heard of Illumina? Ticks both your boxes. Have a friend who works there. American company, pays extremely well and offers niche biotech experience. And if you like travelling to US, my friend is like 3-6 months a year for lab engineer / scientist.

Can't offer you a lubang since I don't know you, but they are always interested to hire as there's limited people in this industry. You can try their website.
seantang
post Dec 31 2013, 01:06 AM

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QUOTE(LalaBubbles @ Dec 31 2013, 12:49 AM)
Is it illegal for an individual with a social visit pass to stay at a friend's place who rent the room with a valid pass ? Initially, we rent the place together but currently I am in a job hunting mode.
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Not illegal. You're not the one renting or having a residence in SG. Bunking at your friend's place is no different than staying at a relative's house.

This post has been edited by seantang: Dec 31 2013, 01:07 AM
seantang
post Dec 31 2013, 03:43 PM

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QUOTE(ndragon @ Dec 31 2013, 02:27 PM)
guys.. i m going down sg to work soon nxt week..
my current company hold back my final pay to do tax clearance.. what exactly I have to do about the tax clearance thing?

whenever they issue the form I am already in sg.. and the how about the tax relief that I am supposed to file in next year?
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Go the LHDN office where your tax file is managed (generally the office in the city where your first job was, where you first paid tax), fill in a form that you will no longer be working in Malaysia / no longer earning any income in Malaysia / leaving Malaysia indefinitely. Submit that form and the next step would be to make an appointment with the officer in charge of your tax file. You need to get your company to submit all financial documents for your remuneration up till your resignation. During that appointment, if everything is complete, the officer will inform you of your final tax liability. Pay that and they will then close your file until you start earning taxable income in Malaysia again.

This was what I experienced in 2005, just before I came to Singapore. You can give LHDN a call and confirm what you need to do.

This post has been edited by seantang: Dec 31 2013, 03:45 PM
seantang
post Dec 31 2013, 09:51 PM

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QUOTE(ndragon @ Dec 31 2013, 03:53 PM)
thanks.. but by the time my company submit all financial document.. i will be in singapore already.. that would be very troublesome for me to make appointment with the officer d..
and do I have to prepare the tax relief receipt just in case they wan to look into my previous year filed tax?
suddenly it felt so much trouble just before I was going down sg..  sad.gif
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Then just file a zero income 2013 tax return next year, and do the tax clearance after that. If you don't want to do tax clearance, you just submit a zero income tax return each year.

As for your last salary, check with the LHDN officer if the company needs to withhold it. You can also call your company's finance department to issue your Form E immediately to do tax clearance. But dunno if your company will layan you.

This post has been edited by seantang: Dec 31 2013, 09:58 PM
seantang
post Jan 1 2014, 12:01 AM

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Can hear fireworks going off.

Happy New Year. May 2014 be a year of advancement for all. Salut.
seantang
post Jan 2 2014, 11:24 AM

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QUOTE(JohnJon82 @ Jan 2 2014, 09:22 AM)
Because ur passport no. will change every 5 years.
Ur ic stay till u die then only sold off to phantoms.
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I opened my first bank account with my passport and FIN number from my work pass (actually IPA). No need for Malaysian IC.

After I became a PR, I just informed the bank of my new IC number.

This post has been edited by seantang: Jan 2 2014, 11:24 AM
seantang
post Jan 3 2014, 11:24 AM

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QUOTE(LalaBubbles @ Jan 3 2014, 10:48 AM)
biggrin.gif  biggrin.gif  biggrin.gif
Their HR call me just now.
They will need to check whether they still have the quota to issue work pass.
Hopefully, everything can go smoothly.

Thanks seantang !    laugh.gif
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That's good to hear. Hope it works out for you.

This post has been edited by seantang: Jan 3 2014, 11:24 AM
seantang
post Jan 3 2014, 06:44 PM

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Personally, I wouldn't retire in Singapore. It's just too high cost to stay here when you have no more active income. It costs at least S$1000-1500 a month to live like a outcast here in Singapore, assuming you've paid off your flat, have no car and no other significant liabilities. With an equivalent RM2500-3750 in Ipoh, I can drive (even pay the instalment on a new car) and enjoy eating/spending much more. And if I sell the flat in SG, the proceeds will buy me a pretty nice place in Ipoh. Same if I rent out in SG, and rent in Ipoh. The excess will double my spending power in Ipoh. So I wouldn't give up my Malaysian citizenship. About MM2U... don't assume you can definitely get it if you gave up your citizenship, especially in recent years, in this political climate. And even if you get it, it just takes a stroke of a pen from some bureaucratic ayatollah to take it away overnight.

Anyway, the deal breaker for me is driving. I cannot imagine getting older, more frail, and have to chase public transport! For me, the older I get, the more comfortable my car has to be. If I live another 30 years after I retire, I'd have to pay another 3 COEs. No way.

As for those couples where one converts to SG citizenship, and the spouse remains Malaysian... I would say best for the wife to convert. Husband remains Malaysian. The reason is that a lot of laws (nationality, immigration, inheritance etc) follow the line of the father, not the mother.

This post has been edited by seantang: Jan 3 2014, 06:50 PM
seantang
post Jan 8 2014, 07:59 AM

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QUOTE(iSmartPower @ Jan 8 2014, 12:38 AM)
Cause they scare the tenant use it to download or streaming. Very kiasu and kiasi.
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Not really. Mobile broadband using 3G/4G usb dongles or handphone tethering is so readily available these days, why would you even need to share the landlord's Internet connection?

And if the landlord has his media center and networked devices on the same wifi network, he will need to work out how to include you for internet connection sharing but exclude you for network sharing.
seantang
post Jan 8 2014, 09:59 AM

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QUOTE(JohnJon82 @ Jan 8 2014, 09:52 AM)
Survived with Broadband on Mobile for years now. No hassle when moving house. The speed is fast, no problem for streaming, video call and gaming, the only thing you need to worry is the quota now, 10gb max.
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I never renewed my mobile broadband contract from 2007. Still on 50GB a month.

Will also not renew my mobile phone 3G contract. 12GB a month. Not worth to give up 10GB for 4G.

seantang
post Jan 8 2014, 02:20 PM

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QUOTE(iSmartPower @ Jan 8 2014, 11:15 AM)
If they are new to Singapore, for sure the new contract is limited 2/3/4G data plan, so mobile tethering is out if heavy usage user.
If you're a heavy user, can't say that the landlord is kiasu or kiasi. FYI downloading entertainment media is technically illegal.

QUOTE(iSmartPower)
As mention mobile broadband is an additional cost for a them who just come over and start work.
Well... if one can't pay, don't be a heavy user.

QUOTE(iSmartPower)
Since the house is equip with broad, it's still open up to negotiate to share it like other home appliance. All is depend how the negotiation goes.
Yup, should negotiate. I was just reacting to the kiasu/kiasi statement.

seantang
post Jan 8 2014, 02:23 PM

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QUOTE(studyboy @ Jan 8 2014, 12:21 PM)
What is this mobile broadband contract? 50GB per month!
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These are the old mobile broadband plans, from yesteryear when they were first introduced. Big data limits (or unlimited), free modems, 3 or 6 months free if you sign a 24 month contract.

seantang
post Jan 8 2014, 05:59 PM

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Singapore's finance job outlook 2014. A bit bleak...
QUOTE
http://news.efinancialcareers.com/sg-en/15...s-in-singapore/

Interestingly, the Hudson survey shows that more than two thirds of employees are either actively or passively looking for another job, and eight out of ten expect to make a move this year. The biggest motivator remains money, but the survey also revealed that Singapore workers are dissatisfied with the quality of management leadership. Two in five of employees surveyed rated their manager as ‘average’, ‘poor’ or ‘very poor’.

In accounting and finance, the survey revealed a number of key trends:

- Business partnering finance professionals are still in high demand, and candidates proficient in audit, compliance and risk are also highly sought after.
- Hudson’s top two most recruited accounting and finance roles for 2013 were internal auditors, and financial planning and analysis. “There is a strong demand for junior and mid level positions in these fields. Most in-demand skills include internal audit, mergers and acquisitions, corporate finance and financial analysis.”
- There are fewer opportunities for senior candidates. Many companies now prefer to keep headcount and cost down and promote finance directors and CFOs from within rather than to recruit external candidates.
- An international outlook is valued: mid-level candidates who are willing to travel, relocate and/or have exposure to emerging or growing markets like Myanmar and China are sought after.
- The trend for outsourcing transactional junior roles overseas is continuing and this is affecting the number of junior and entry level roles in the profession.
- Salaries continue to rise but more slowly, with increases of 4–5% in 2014 expected, compared with 5–8% in recent years.
Employers want local candidates which would translate to fewer opportunities for expatriates.
user posted image

This post has been edited by seantang: Jan 8 2014, 06:01 PM
seantang
post Jan 9 2014, 02:12 AM

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QUOTE(yhoong12 @ Jan 8 2014, 05:09 PM)
So many people in SG, can they find out who is downloading who is not?  shocking.gif
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The ISPs definitely know who. They definitely have all the records of all your internet activity.

So there's no issue whether they know out not. They do.

Then it's a question of what they are going to do with that knowledge. If you keep your nose clean, never get into trouble or create trouble... chances are that nothing will happen to you your entire life. But if you one day, somehow attract the attention and displeasure of the powers that be, you can bet they will bring it all this evidence to make your life difficult.

seantang
post Jan 9 2014, 04:32 PM

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QUOTE(razo2 @ Jan 9 2014, 11:27 AM)
There is always a saying,"As long as you dont get caught, is ok".

To be honest as long as America doesnt stick their cocks at Singapore to impose strict regulations such as SOPA. It will be hard for them to catch people doing illegal streaming.

Internet is a place with no government control.
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However, when it comes to illegal downloading on the internet, it's more like "As long as they don't want to catch you, it's ok".

They have everything they need to identify, find and charge you. But because they are so many people guilty, it's a matter of whether they want to or not.

So, if you haven't done anything else that they might want to screw you for (like being an influential anti-govt figure), you should be quite safe. The other possibility is that an intellectual rights or copyright owner might make a specific complaint which allows the authorities to selectively prosecute some of you based on that complaint (ie. they don't have to go after everyone, just that specific group identified in the complaint).

This post has been edited by seantang: Jan 9 2014, 04:33 PM
seantang
post Jan 9 2014, 10:39 PM

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QUOTE(wlcling @ Jan 9 2014, 09:52 PM)
Ask u guys opinion. So my wife offered to join company branch in shanghai (permanent position). Increment about 20% and housing allowance about 500 sgd a month. Also got those one time allowances to help her settle down. Is that a good deal? I think not but just asking what is an approx fair increment to negotiate?
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20% increment means she'll be paid in whatever currency, the equivalent of 120% of her current S$ salary? Then add another S$500 housing allowance?

After China income tax, how much is that increment vs her current after tax salary in SG?

And what is the difference in housing cost between now in SG vs potentially in SH?

And after all that... is the increment worth uprooting the family? Any kids? What about their schooling? What about you? Are you going to earn more or less in SH?

seantang
post Jan 13 2014, 08:13 PM

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A pretty sad reality which I absolutely agree with. And the quoted $48K a year to retire "comfortably" is actually quite optimistic. Half of that already goes to conservancy charges or maintenance fees and groceries. The rest for takeout/restaurants, cable tv/bb, very basic entertainment, medication/supplements and public transport. Add another $2K a month if you want to drive, which you will when you're old and creaky.

QUOTE
http://www.cnbc.com/id/100472868

A Wealthy Nation That Can't Afford to Retire
CNBC.com  02/20/13 3:42 AM
By: Rajeshni Naidu-Ghelani

The Southeast Asian city-state of Singapore may boast of the highest percentage of millionaires in the world, but retiring in this wealthy financial hub is becoming even more difficult for the common man.
According to a latest study by HSBC, the citizens of this country, which has one of the highest per capita incomes in the world, face the grim prospect of running out of their savings almost halfway through retirement as the high cost of living and increased life expectancy eats into their nest egg.

Singapore has gradually moved up human resources firm Mercer's global rankings of the world's most expensive cities, moving to sixth place in 2012 from eighth in 2011 and eleventh in 2010.

"There is cause for concern from the finding that the retirement savings of people in Singapore will run out after nine years, which is about the time they are entering into frail retirement and a stage of their lives when medical costs and other elderly care expenses are expected to rise," Paul Arrowsmith, head of retail banking and wealth management, HSBC Singapore, said in the report released on Wednesday.

"People are living longer, through tougher economic times, and expectations about their standard of living in retirement have risen," Arrowsmith added.
More than half of the 1,000 Singaporeans interviewed for the survey said that either they were not adequately prepared or not prepared at all for retirement as they expected to continue working beyond the age of 65 to be able to afford their desired lifestyle.

One also needs more money to fund one's retirement in Singapore. According to the study, the annual household income required to lead a "comfortable" retired life in Singapore is the third highest among Asia's major economies, behind Australia and Hong Kong, at $48,773. This figure is 68 percent higher than what was needed in 2011, the survey, which has been running for eight years, found.

The rising cost of living in Singapore has 58-year-old Singaporean Janice Tan worried about her retirement.

"I think the cost of living is really escalating a lot," Tan told CNBC. "During the Chinese New Year season, when I went to buy the goodies, it really shocked me, because the cost is really going up too fast."

Tan and her husband are currently paying for the education of their two children, including a 21-year-old daughter studying in Perth, Australia. While Tan, an administration professional, hopes to retire soon, she says she knows it might be another 10 years before that happens.

"As human beings we want more - a more comfortable life. That's where the worries come in on whether you will able to survive," Tan said.

According to the study, of those not saving for retirement, nearly half said they were being held back by the cost of day-to-day living.

High costs have become a major cause of discontent among Singapore's residents. This prompted a rare protest over the weekend in which about 3,000 people participated. They were voicing concerns over swelling costs driven by an influx of foreigners.

Foreigners, who account for almost 40 percent of Singapore's 5.3 million people, have been blamed for pushing up housing prices and taking up jobs in one of Asia's major business centers.

Retirement Fears

The top three fears about retirement cited by Singaporeans were poor health, financial hardship and not having enough money to provide for good healthcare, according to the study.

With retirement savings drying up at a time when Singaporeans are most vulnerable to health problems, funding medical bills could become a big burden, HSBC said.

Tan backed that sentiment, saying that medical bills from a motorcycle accident that her husband was involved in last year have been a drain on their finances.

"As we get older, I realize it [funding health costs] is a more important thing to sort out," said Tan. But the high cost of living is coming in the way. "I can't imagine how much more the cost of living is going to go up to," she added.

—By CNBC.com's Rajeshni Naidu-Ghelani


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