Author: SG Wealth Builder

Singaporeans becoming more anti-foreigners?

The recent online uproar over the Bugis accident which involved the death of a millionaire PRC, a Japanese female student and a Singaporean cabby driver set me thinking. I wondered aloud if the Ferrari driver was a local and not a PRC, would there be so much public fury? After all, there were fatal accidents caused by Singaporean drivers in the past but they were not sensationalized like this. Not too long ago there was a PRC who got into a fight with a cabby driver and recklessly drove his taxi and rammed onto an innocent Malaysian cleaner at the Budget Terminal. He...

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A tribute to my Mother and Father

Today is Mother’s Day. Me and my siblings planned to give her a treat but she felt that the restaurants would be very crowded today. So we postponed our celebrations to next weekend. My mom is one of the baby-boomers. She belongs to the generation who don’t express love on their lips and believes in tough love, hard work and sacrifice. My mom is a great person although I am not close to her since young. This is because I used to be a very mischievous brat who liked to talk back. Of course she wasn’t please with that...

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My comments on Tan Kin Lian Blog Posting "Consumers who deserved to be ripped off"

I was reading Mr Tan’s blog and came across his posting “Consumers who deserved to be ripped off”. I was quite angry when he commented that consumers should be ripped off for choosing to buy life insurances. Make no mistake, I totally agreed with him that we should all buy term policies and hospitalization plan for protection purposes. The rest of the money can then be used for investing or consumption. But what I am unhappy was that he made all these comments to the public after he stepped down as CEO from NTUC Income in 2008. I have...

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My views on Singapore’s low birth rate

In my previous post, “Sentiments of a Singaporean”, one of my readers pointed out whether it is fair to burden taxpayers who are single and do not have children with heavy costs of baby bonuses. Actually before he responded, I already knew where he is coming from. It is human nature to feel sour grape seeing others who have babies receiving monies from the government while you are ineligible . Deep in my heart, I believe this is one reason why policy-makers are so reluctant to give more monies to citizen who are willing to give birth. This is...

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Sentiments of a Singaporean (SOS)

I thank Hyom, one of my readers for his excellent feedback yet again to my previous post “Plight of a Singaporean male”. As a fellow Singaporean, I shared many of his sentiments and frustrations. Coincidentally, the night before, I read an article in The Strait Times on this same topic. The author also expressed the same frustration felt by many fellow Singaporeans. He even went on to suggest implementing NS security bond for PRs with sons. This is to ensure that the descendants of PRs serve their NS obligations. The article confirmed that there is a rising sentiments of...

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Knowledge is key

Through interactions with some of my rich friends, I came to realise that no investors become wealthy through herd investing. In order to become a successful investor, we need to equip ourselves with the right knowledge. It is very important that you start your investment or wealth-building journey early on in your life because that will give you a headstart. But before you start splashing out money on various investment schemes, always always remember to build up your knowledge first. If you plan to invest in property, options, options, etc, attend courses and seminars to deepen your understanding on...

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Reflections

My blog’s pageviews will be hitting 25,000 soon! This is very heartening and encouraging to me. Although my blog’s readership is nowhere near the millions of hits enjoyed by popular bloggers like Xiaxue and Tan Kin Lian, I am pleased that there are quite a few people who took time to read my blog and provided me feedbacks. I am also glad that most of the comments given were matured and non-provocative, which is encouraging as it spurs me to keep on blogging. I would like to give thanks to you readers for your precious time and feedbacks. Although...

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Investment Insight 2012: Thakral

In 2010, I invested a fair bit of money in Thakral, one of the listed companies in Singapore. At that point of time, they declared their intention to change business focus and also proposed a significant dividend for the shareholders. I did some research on the company and decided to invest, tempted by the declared dividend. Eventually, I did receive the dividends, but the stock prices fell in tandem. As the stock prices languished at that price, I sold my Thakral shares after a couple of months. Subsequently I did keep track of the stock price and company performance....

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Plight of a Singaporean male

Recently, I was flattered to receive a long feedback from one of my readers, Hyom, to my previous post on a business idea to provide services to foreigners and PRs residing in Singapore. There was a lot of angry thinking in his response and I can also sense a tinge of injustice when he mentioned that he, as a Singapore citizen had to fork out much money for his tertiary education whilst foreigners of lesser talent received scholarship using our tax-payers monies. I thank him for his honest feedback and can relate 100% with him as I am a fellow Singaporean. Life as...

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Business Idea: Service Provider to help foreigners/PRs integrate into Singapore

Quite some time ago, one of my readers visited my blog and suggested that one niche business idea could be to provide a service to help foreigners/PRs integrate into Singapore society. I have mixed feelings when he suggested this to me.After all, I am a true blue Singaporean, being born and having lived here for three decades and served my two and a half years of NS.These foreigners/PRs come here and compete with our PMETs for jobs at lower wages without having to serve NS. They also compete with our locals for our kids P1 places, burden our transport...

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Business idea: Confinement nanny agency

I have not been blogging for quite some time. This is because last month I became a first-time dad and I was real busy with my day-time job. I engaged a confinement nanny to look after both my wife and my little bundle of joy during this challenging period. During our research on confinement nanny agency in Singapore, me and wife realised that there are not many established ones around, notably only a few. Eventually we settled for PEM which claimed to be the largest confinement nanny agency in Singapore. The first nanny lasted for one week and left because she claimed her grandmother passed away...

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The Ultimate Gangbang

During the 2008 – 2009 financial crisis, stock market crashed throughout the world and triggered the collapse of several big US banks. Back then, even the Singapore government had to make the unprecedent move of guaranteeing all bank deposits till end 2010 to prevent bank runs. There were mayhems and carnages everywhere. There were also opportunities. There was one point I was very tempted to purchase Citi’s shares, which was trading at USD$1.00 through my Philips Securities POEMS account. Citi’s shares was trading at rock bottom and anything below USD$1.00, chances of it being nationalised by the US government would be very high. I...

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How to be rich in Singapore

While we may not have investment acumen like Warren Buffett, we can still become rich through buying distressed assets in Singapore. There are always bargain around us and its only a matter of patience for the right opportunity to come. As I mentioned in my previous posts, the best time to “strike” is when the economy takes its periodical dips. Some of you might remember that during the mid-1980s when Singapore economy went through a very sharp downturn, some condominiums in the posh Balmoral areas were selling at $170 per square foot. In two years, the prices doubled and...

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Importance of Emergency Fund

In my previous posts, I have written about the need for Opportunity Fund, which is meant for investing purposes. In life, we should also consider building up an Emergency Fund, which is a reasonable amount of money set aside for rainy days. Many people live their lives as if nothing bad will ever happen to them. Its as if buying a car and not buying an insurance, expecting no incidents or accidents. Such a thinking is so unrealistic as we know that life has its share of downturns. Without an emergency fund, any setback might potentially spiral into serious...

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Investment Notebook: Every crisis is an investment opportunity

Have you ever paused to wonder why Singapore has one of the highest concentration of millionaires in the world? There are so many cash-rich Singaporeans out there that even during the recent downturn,  many of them were seen snapping up private properties like hot cakes, despite the sky-high prices. The reason is simple: many of them made big money from the stock market during previous financial crisis. It may sound odd, but every crisis is an opportunity for retail investors to make big money because that is the time when stock values dropped below their intrinsic values. Most investors,...

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