Posts filed under 'Business and Investment'
In an interesting development, it is reported that Singapore investor and billionaire Peter Lim will be joining forces with the Johor royal family to develop a medical hub as well as a Marina City in Johor Bahru, in a location just minutes away from the Johor Bahru CIQ.
An agreement was signed on 10th Nov 2011 for both parties to acquire a 10-hectare freehold waterfront site for the development.
Here are some reasons why this project will be a definite success:
#1 – It is supported by the Johor royal family. This will ease off a lot of red-tapes from the application of development permits to constructions of new roads to support the development.
#2 – It is not supported by the Singapore Government – while a prominent Singaporean is involved in this venture, the Singapore Government is not involved, removing away some of the sensitivity which can arise from bilateral issues.
#3 – In Phase 1, the nature of development would be a medical hub featuring serviced apartments, a mega shopping mall and a mega fully-secured car park with sophisticated security systems. This is an industry sector set for growth in alignment to aging populations.
#4 – International Health Services, a division of Thomson Medical, will manage Read on…
November 11th, 2011
Nowadays, buying a car in Singapore seems to be an affair for the privileged upper class of citizens. And we are not taking about marquee brands like Posche and Ferrari. We are talking about Toyota Altis, Honda Civic and even Hyundai Avante.
After all, the Certificate of Entitlement (COE) in Singapore has now reached a new frenzied height at a 10 year high. A piece of non-transferable COE paper (alone!) will now cost you:
Small-Medium Car: S$47,604 (RM114,250)
Large Car: S$62,502 (RM150,004)
Crazy COE Price in Singapore
As a result of this paper chase, the prices of the following models ballooned to a fashion which led aspiring car owners to chase the dust:
Toyota Altis: S$100,333 (RM240,800)
Honda Civic (1.8l): S$123,000 (RM295,200)
Hyundai Avante: S$98,000 (RM235,200)
At such prices, you can get a landed property in Johor Bahru instead if you forgo the drive.
For Malaysian Work Permit Holders (non-PRs) working in Singapore and yet to own a car, it is now mathematically sound to buy a car in Malaysia and simply pay the VEP on a daily basis instead. Let’s use the example of David Si Pei Heng who works in Singapore and because he is a non-Singaporean PR, can drive a Malaysia-Registered Car into Singapore.
David can either choose to:
1. Buy a Honda Civic in Singapore (Total Cost: S$123,000)
2. Buy a Honda Civic in Malaysia and pay the daily VEP fees (Total Cost: RM120,000 (S$50,000) + VEP fees for 10 years (S$25 * 22 working days * 12 *10 = S$66,000) = S$116,000)
This means that if David choose option 2 – over a 10 year period, he will:
1. Save S$7,000 compared against option 1 in terms of car purchase.
2. Pay lower car insurance.
3. Save on interest from car loan
4. Pay only a fixed cost of ERP at S$5.00 daily, even if he travel in/out of the CBD area like nobody’s business.
5. Save on VEP for those days he is on MC or want to Chao Keng”.
6. Save on Road Tax.
Read on…
December 9th, 2010
Over the last 180 days, Singapore Dollar had been trending against the Malaysian Ringgit within a band of 2.28 (1 SGD = 2.28 MYR) and 2.40 (1 SGD = 2.40 MYR). This represents some 5% in fluctuations in the relative value of the 2 currencies.
As of 1 Nov 2010, 1 Singapore Dollar trades at 2.4027 Malaysian Ringgit, touching the top of the 180 day trending band. Some Singaporeans had already started converting their local currency into the Malaysian Ringgit, resulting in brisk business for Tukar Wang in Johor Bahru.
The question is whether the Singapore dollar will further increase in value against the Malaysian Ringgit.
Accordingly to Credit Agricole CIB, investors should sell the Singapore dollar and buy Malaysia’s ringgit to profit from a potential 3 percent drop in the city-state’s currency. Separately, Hong Kong-based foreign-exchange strategists Mitul Kotecha and Dariusz Kowalczyk wrote in a research note that the Monetary Authority of Singapore (MAS) may slow the local dollar’s gains after it reached a record high this month following an unexpected policy tightening.
Singapore Dollar against the Malaysian Ringgit
This might now be a good time to convert some Sing$ into Ringgit and lock in the rate.
Note: This article represents the personal view of the author and does not represent any investment or financial advice.
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November 1st, 2010
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