Life is indeed exciting

When you think every have fallen into places, that when problem starts staging a fightback.

a) Tendancy
Treeline tenants terminated the tendancy agreement prematurely in start of May. The only bright spot is we confiscated the one month security deoposit. We have a tight deadline to meet to get tenants here by 1st June. We engaged Margeret and a noobie Rainie. Initially, it was demoraling to hear them that they only market as 2bedrm and the price is 3.3-3.5k. Thoughts of wrong buy comes to our mind. Have we make a wrong move. To be truthful, we are not confident of Rainee, we even thoughts of terminating her. To our surprise, she bought a lot of viewers within a week. Now everything is settled. We managed to find tenants thanks to Rainie. As for Margeret, I think she probably never even market at all. Through these, we have learnt to be patient and finding a rookie agent may not be a bad idea.

b) Car Insurance
When I received a email from the agent, I was shocked at the price. It was lower than last year! I was anticipating a NCD of 0% and increase in the premium due to the accident with a taxi last year. It was a 50-50 case. I ask the agent to ask MSIG again to re-confirm and they got back to say the case was won as they made 3rd party claims from the taxi's insurance. In the end, my NCD is 20%. It was a welcome surprise. There was a period of time that we were comptemplating to transfer the car ownership to Fiona instead as we thought we will lose the case.

c) Tooth Problem
I hate to vist the dentist as each  visit will put a dent to my pocket. True enough, after yesterday visit, they quoted me $1.8k for a rool canal treatment and crowning. I was shock as I remember vividly I did the same thing for $300-500 donkey years back. Luckily, there was no slot on that very same day. It gave me ample time to do some research and look out for alternatives. I manage to find a $1.2k one but I have to endure till 4 days after.

Mix feeling

As I walk towards the UBI driving centre bus stop on my last day, I have mix feeling. I felt emotional about leaving a company where I truly make my mark and grown up. Farewell CAE! The CAE now is far off from the one I enter but it is still a place where I spent the best part of my working life. It is by far the toughest but the most fulfilling. With due respect to NUS, ITE, although they are much bigger their working environment really sucks.

Will done

After much trouble, I have completed the will for The Ambra. We have decided to go for will because the amount to pay to change my name into The Ambra works out to be 40+k. 30k for stamp fee and 1.5% on 500k bank loan. What we plan is get the will done for 3 years then we will sell this house.

Questions about CHC I

First off, the full story.

1. Rumours of financial impropriety concerning the church and it's pastor/s have been around for years. Some say as far back as 10 years ago.

2. The first public out roar about the church, arose in March 2010 this year, when the church bought a $310 million stake in a commercial entity known as Suntec Convention Centre for it's new church. Worse, it had to hide the details in a Non-disclosure agreement, when as a public charity and society, it has a duty of openness and accountability to it's members.

3. This series of actions, sparked a complaint by a member of the church to the Commissioner of Charities, asking why the church had submitted it's members to future liabilities, without the members' permission.

This was because the church had not raise the full sum of $310 million at that point (only $65 million was raised).

4. The Senior Pastor and the church was questioned about this by the Commissioner himself. But no public answers were forthcoming.

5. Shortly after, on 31st May 2010, the Senior Pastor's home and office, together with 16 other associates of the church, was raided by the Singapore police (Commercial Affairs Department(CAD)) on the request of the Commissioner of Charities (COC). They were all hauled in for questioning at the police station.

6. The COC and CAD issued a joint statement that the Senior Pastor and his associates were being investigated for:

6.1 Misuse of church's funds

6.2 Falsification of Documents

6.3 Criminal Breach of Trust

7. The pastor's wife was then asked to return from LA for questioning by the CAD. At this time, the financial probe had increased to 20+ people including the Pastor's wife, as well as the deputy senior pastor of the church.

8. The church itself and the Senior Pastor and his wife, then seek legal representation from Senior Counsels in Singapore.

9. Shortly after this, the Senior Pastor was accused of plagiarising the works of 2 American authors and this was featured in the local newspapers. Plagiarism is a crime in Singapore. But the authors decided not to press charges on the pastor, as long as he did not continue to use their works.

10. News of the Senior Pastor's wife extravagant lifestyle in LA hits Singapore. This amongst others include a USD20,000 a month rental in the posh Hollywood Hills mansion, 2 cars, maids/butler, personal entourage of dancers and choreographers, frequent travel, expensive clothes and makeovers, jewelleries, etc.

11. The Senior Pastor and his deputy was asked to step down as heads of the church and replaced by 2 executive pastors.

12. An independent auditing team was appointed to review the governance of the church as well as it's internal controls.

13. Public debate in Singapore rages to a fever pitch, so much so that it has been declared the most Googled item in Singapore. This is the extent of the public outrage in Singapore.

13.1 Yahoo FTP - 8 threads and 30,000 posts

13.2 channelnewsasia forum - more than 5 threads and 10,000 comments

13.3 sammyboy forums

13.4 hardwarezone forum-80 threads and more 100,000 comments

13.5 irreligious blogpost

13.6 cheat grace blogpost

13.7 theonlinecitizen

13.8 the NEW temasek review

13.9 sg forums

13.10 sgclub forums

13.11 new republic asia blogpost

13.12 what i have against City harvest Church blogpost

13.13 why i left City Harvest Church blogpost

13.14 church warnings blogpost

13.15 Cash Harvest CULT blogposts

13.16 The Christian Post

13.17 trevvy forums

13.18 blowing wind forums

13.19 AsiaOne forums - more than 15 threads, more than 20 thousand comments, more than half million views, etc etc etc

14 Public discussions led to the following list of questions, which are culled from verifiable facts from the various discussions in Singapore.

14.1 Why did the CAD raid my Snr Pastor’s home, CHC Office and offices of associates of CHC on 31 May 10?

14.2 Why did the CAD interrogate my Snr Pastor and his wife on multiple occasions?

14.3 Why did my Snr Pastor and his Dy Snr Pastor have to step down?

14.4. Why did my Snr Pastor pay $46.3 million to the Licensor for simply finding a new place of worship for CHC? Why was the Snr Pastor so generous to give Licensor such a big amount when the Suntec church will not be ready by March 2011 and the usage is non-exclusive and without a tenancy agreement?

14.5. Why did the CHC buy million of $ of unquoted bonds from Xtron, a company that has been losing money since it was formed?

14.6 Why did my Snr Pastor announce that CHC was “co-owner” and later clarified that the Church only is a minority shareholder of SCC? This was further clarified by ARA Group in the Chinese newspaper.

14.7 Why did my Snr Pastor pledge the Jurong Church in “the event of non-payment of rent, the creditors have a cause of action against the assets of CHC (i.e. our Jurong West St 91 Church Building)”? Isn’t this a violation of the Societies Act which does not permit society members to subject it’s members to adverse risk?

14.8 What is impact of URA restrictions on the church usage of Suntec? Would the space be enough? If space is not enough, what sense is there to move at all? Also, if non-exclusive does it mean have to move out all equipment every Sunday? Where would we go for our Bible classes, morning/evening prayer sessions etc etc as earlier planned for Suntec?

14.9 It has been clarified that Suntec Reit will eventually buy over Suntec Convention Centre in 2-3 years time. Why then did the Senior Pastor announced that the deal was self-sustaining, when it’s unlikely that future shares can be bought in Suntec Convention Centre?

14.10 Is it true that the Management Committee passed Resolutions to approve the Cultural Mandate and the acceptance of companies linked to CHC (e.g. Xtron and AMAC) as legal and valid? What is the meaning of all this? Does this mean that monies has passed through these companies and involved in matters not in the Building of God’s church?

14.11Is it true that the Senior Pastor and his mentor, Dr Kevin Dyson got their education and qualifications through degree mills i.e. unaccredited institutes of higher education as defined by the US Department of Education?

14.12 Is true that CHC has just 14,000+ members rather than 33,000 members as earlier declared by the church.

Underpaid?

2.5 Bonus, 850 National Bonus, 4000 share, 13th Month

= $91650

Maybe a timely break is good

My wife and his parents have being at odds for awhile. I think all these problems may be the result of living together too long after marriage. Her parents told me that they will move out once their tenancy in July retires. It will present me another set of problems like who is going to look after my kid and how about the laundry and food.

Perhaps this could be the best solution. I have heard that best friends don't even talk to each other after sharing rooms for too long.

Is this true?

http://english.hani.co.kr/arti/english_edition/e_national/488394.html

Interesting Job

Genting Break

Went for a small break during easter weekend. It was fun and was within budget.

Hotel - $280

Coach - $240

Eat & Spend - $200

The only blemish is the trip back on a low grade coach. We only reach Singapore at 10pm having departed at 1pm in Genting. It was a gruesome experience especially the long wait at the Singapore Custom. Overall, the kids enjoyed themselves.

Boring 2 days

Thank God, 2 days have passed nothing had happened. Tomorrow evening going to sign STE's offer letter and then reject GE's offer. 2 more days to trip to Genting before 1 more gruesome week. Yeah!

Why make things so difficult.

Looks like Steven Tan is bent on cramping down on me. I have to take his hats off. He even get Jonathan Hung to speak to me on that. Looks like no stocks and games for me for the next 2 weeks.

Char Keow Teow - Project Analogy

Requirements - You want a plate of Char Keow Teow.
Engineering Process - How u fry the char Keow Teow? -No need block diagram & prototype. Just need to draw out the scenario.

Getting extra resources - How about getting TP students? -Won't work as TP will keep their best students.

Financing - When customer is ready to commit $5 million to the project, we can hire more resources.

Can fail? - Cannot but must show something by June in ready for World City Show in July.

This is not a school project and CAE is not all about trade show.

Rewards for my hardwork

I would have to think all these years my perserverance to work very hard and learn all these technical things have paid off. I am landed with a job that allows me to excel and work on these areas. People may have their own opinion but I stick with my principles. Nothing comes easy in this world. Just yesterday, I sit down and explain the software architecure with YH. Guess what, I enjoyed every minute of it and immediately I know I should do something I will enjoy in my next endeavour.

People ask me how I manage to have 2 private houses and 1 continental car. I told them my wife and I don't earn alot. In fact, we can't even meet the minimum household income in order to buy an EC. I told them I work very hard, nothing comes easy. I teach extra night classes and I save alot during my ITE days despite the long distance home which lasts about 1-1.5 hours. These were the days when I don't have any car on my own.

I also take risks. I remember I only have $2500 in my bank 3 years ago when me and my wife dump all savings onto our first private. We surrender all our life insurance policy in order to make the shortfall. We move in to my inlaws after renting out our HDB flat. Everything happened in a wink of an eye. In fact, after finishing 3 years of rent, we reluctantly sold our HDB and has completed the transaction just this month. It is never a good feeling to sell your property but life have to go on.

Immediately after we sold our HDB, we bought another private despite people telling us that property prices will be down due to europe woes and various economical problems. Even before taking the HDB option fee, we manage to mussle $90k to book the Treeline. We have gone through some saga when we are getting both the Treeline's loan and Ambra's refinancing. As part of risk management, we changed both loans to fixed interest rate. As a result, we are paying alittle bit more but it enables us to sleep peacefully. Ultimately, property is the safest investment in singapore and overtime it will appreciate in value over time.

2 years ago, I joined CAE from ITE which is a lucky break for me. I was attached to it during my holidays, I impressed Brian and was proached from ITE to join as Team Lead. It was a struggle in the first period, I have to fought off critics and refuse to join in the gossiping. I worked very hard and finished SMRT and NMSC. I was intending to work there for 2 years to gain exposure. After Adrian & Brian left, I tried franctically to find a job but to no avail. Thoughts of joining the wrong company comes into my mind. Just when things looks doom, I have 3 jobs offer. The one I will be joining is a promotion for all the hard works I have inputed these 2 years. It was a lucky break, the agency shortlist me for software engineer but hiring manager wants me as technical manager. What I have to say is when things don't happen, just dig in and prepare for the next oppportunity. People gave up too easily and are ever ready to accept the mediocre life they are stuck with. I am ambitious, I want to achieve! Guess now is the time I put some colors into my career, if I ever have. It may sounds weird, I have chosen a job that pays lower than the initial one because of JOB SCOPE and STABILITY. After all, age is catching up with me, I can't do programming when I am 40s and I need that job security to finance my properties. The only regret is I willput Brian in a spot if I reject his company's offer.

My next aim for the year is to find new job for Fiona and firming up Ambra's will.

Meanwhile, I am looking forward to holidays in Genting and Taiwan before I start my next job. I have succeeded in all areas except the stock market. I think I just take a long break and enjoy my holidays.

When everything seems calm, suddenly..

Today Treeline tenant called Stephen that he is terminating the contract with effect from end April. We were shocked and have consulted the lawyer on how to do it. We have 2 options: a) Sue the tenant b) Forfeit the deposit and find new tenant. But sueing the tenant will involve a lot of technicalities and may even complicate things if tenant choose to flee from Singapore. Hopefully, everything falls into places before 1st June. It may well turn out to be a blessing in disguise, as I will be forfeiting the 2 months deposit and may get higher rent instead.

Its not right to play game & stock when u have already resigned?

What you expect me to do when I have already tendered my resignation? Do my work when there are no projects?

I was threatened by Steven what someone suggested gathering everyone in meeting room and sack me in front but according to him, he had played the good guy by talking to me privately. I told Steven that I have done my best for CAE and not there to make friends and gossip. The more I think of it, I more I think is Steven who made up the story and pretend to be the good guy. The same thing happens when I didn't text him when I was seeing doctor. He scolded me and then pretend to help me claim the medical costs. That is call trying to be a good & bad guy at the same time.

I was fed-up with this 52 years old with a mentally of a kid. How can a engineering director know noops about the technicality of the projects and didn't even want to put in effort to understand the past projects.

Probably it reinforced my decision to leave the sinking ship. I don't will to align myself with actors and gossipers. Sometimes, I wish I would have stay in 5th floor doing SMRT/NMSC project with Desmond, arguably the most hardworking engineer I have ever seen. It was free from all these distractions.

What another interview request!!

Apparently, more & more people ask me. Another airline company that can pay up to 6k meaning if I reject GE, I can still get this kind of pay elsewhere!!

Its seems that the mass exodus of students to the supposedly greener pasture in banking & finance is leaving gaps to be filled in the Engineering field.

Technical Manager or Engineer?

Yesterday STE call me to offer me a pay that is much lower than what I will be getting in GE. My mind says accept GE's offer while my heart says accept STE. It is something that I love to do and I think it will pave the way for jobs like like this to come along:

My wife would give me a bashing if I reject GE. After all it is one of the best companies around and it offers one of best benefits.

This is ironical. In GE, I will demoted but getting much higher pay. In STE, I will be promoted but getting lower pay.

Resignation Saga

I received an email from this NEC's agent saying what I am released from CAE on 9th March 2012. Suddenly, I was enlightened. It was him that ask Steven for a testimonial in order to sabotage me! I decided to ignore this email for it doesn't matter anymore also.

Little wonder that Steven give me a hostile attitude when I first gave him the resignation letter. It was after much explanation that Steven changed his attitude and accepted my decision. I have came to a conclusion that Steven is a bit petty and earlight. That's doesn't matters also. I have accepted a better job and waiting for another offer to come back.

Thanks CAE!

Unconventional Resignation Method

Finally, I submitted my resignation to CAE. Ironically is not by traditional way but by emailing my boss because he is not around. I will submit my letter to him on monday.

Think I need a rest

Eversince the start of year, it has being hectic. Milestone events to date:
a) Prepare HDB for sale.
b) HDB Sold
c) Prepare money to buy Treeline
d) Loan acquiring
e) Refinance Ambra
f) Being through multiple interviews
g) Got a new Job.

Will you buy a 5rm HDB for 900k?

This may sound ridiculous but it has happened. Like it or not, cheap resale HDB is close to none now. We may be edging towards our first million HDB.

If HDB is 1 million, EC should be priced close to this & Private should be at least 1.5 million.

Choice is self made

I wrote an email to this agency to reject the NEC's offer. Expectedly, he called to use my words to argue against me, I was so frustrated that I hang the phone. I think I make the right decision in rejecting him given what has unfolded.

Another door opens for me, when STE's manager tries to meet me near my workplace. It seems that they are desperate for people. Now waiting for them to arrange to meet the CTO.

Soar with the eagles

I recall what Pastor Kong Hee said "If you want to soar, you must mixed with the eagles"

It really come alive now. The rich and successful have different attitude/mindset towards their life and wealth creation. Even by speaking to them, you will catch something from them.

The Treeline

After much hussle, we finalised the deal for Treeline.

First time in my life I refute my parents

I did that to the shock of the people around when I rebute them to praise a child instead of critise her drawings. Valencia was happily drawing to show them when my father keep saying it doesn't look like angry bird to her annoyance. Consequently, my child was in tears. That really agitated me and without any hesitation, I went up to refute them. I have only 1 child and I love her too much to let her be cristicised.

What should I do?

GE

vs

NEC

I can't wait to hand in my resignation letter but GE have not finish their AIM screening till probably next week. I got a feeling Steven Tan knows that I am going judging by the attitude he has shown to me. Probably, one of the company I applied for contact CAE? If that is the case, I surely have to carry on. I heard from Ramesh during lunch time, if CAE sign the contract with Brunei MPTC next month, CAE SG could be assigned to do the infrastructure work and possibly PC7 (part of MPTC). That excites me for a moment, but only just a moment, the though of working with the likes of Joshua really puts me off. With due respect, I don't think they are up to the mark.

I am in a dilenma of whether to accept the NEC offer, because of the fear that the AIM screening test may fail (what if). Maybe it would be better if I just patiently wait & trust God for GE to come back (maybe next week), before pushing the resignation letter out. After the AIM result came back, I still need to do Health screening. God, I pray that everything will be smooth.

I am looking at last day to be around 1st May 2012.

Yet to settle matters

Right now the things left to be done are:

1) Settle my refinance of Ambra - have decided to stick with OCBC but going for fixed rate

2) Help Fiona find new job

3) Settle Ambra's will

Spiritual or Faky?

Here are some spiritual stories I have seen:

a) In 1999, I was introduced to CHC or rather christianity by my school mate Terence. This guy appears very spiritual, he would bind spirits even before getting on the car and classrooms. He even pray 1 time to help me identify the questions for the forthcoming exam. That arouses my interest in christianity and subsequently make me converted to christian.

b) I am convinced that Jesus is the truth, the only way. Upon conversion, my grandma said she had dreams that my mother came crying to complain that I have switch to christianity. How in the world does she suppose to know when I didn't even give a hint?

Tough but necessary - Taking risks

There are times I asked myself why so tough buying 2 houses? Maintain 2 houses and 1 car is very tough. People are saying properties are going to drop big time, but I suspect with low borrowing cost and high liquidity out there, it will be well supported. Morever contrary to analysts' view of gloomy economy, I believe the market has bottom up and well poise to make a spectacular recovery.

With rising COE prices, food prices, electrical bills, property prices, etc, it has make inflation at multi-year high. If we don't do anything to increase our wealth, sooner or later we will become poorer.

There is only 2 ways for people like me to get rich - stocks & property. The trick is to leverage. With property, you can loan up to 60-80% of LTV which makes a 3-4 times leverage. With stocks, I don't know why some people gloat about buying dividend stocks with their limited cash. True, they collected dividends and see capital gains but is that enough? You make 100% from your $50,000 investment after 3 years which is highly remarkable. I would think it would be more fruitful to put this $50,000 into CFD and use 4-5 times the amount giving some buffers to it. I don't have the cash now, probably in March or April I will put $15000 inside my CFD to play. I want to make it big in life and to do that I know I need to take considerable amount of risk.

The time has come

The time is coming sooner rather than later to leave CAE. I have no regret joing CAE 2 years ago from ITE.

It was an opportunity to rejoin the industry because I know it is difficult to go outside once you are in ITE for awhile. From a rookie in simulation and train domain, I have learnt and adapted well. I dare say noone in my company knows the train domain in terms of knowledge and technically better than me.

Looking back, when I first join CAE, I was told by friends how bad Adrian was, how little increment or bonus he will give, how he will ask you to sign unfair bonds and how he will squeeze me till I dry. That certainly scare the soul out of me. When I was presented with a 18mths bond, I was complemtating whether to quit. At the end, I decided to give it a try. I was planning to make the exit after 18mths when I gained enough exposure. I was roped for a R&D project with Temasek Lab but that never materialise when the lead for the SMRT project left. I was immediately placed there. I heard the guy that left refuse to sign any bonds for being asked to go the Kiel, Germany and Adrian threaten to sue him. The first 3 mths at Kiel, Germany was lonely, but looking back it was quite fun. I miss my family alot in Germany but I endure. I was determine to keep mum about the 14 days leave and my house in TK a secret as not to arouse any jealousy among the ranks in the company. I disciplines my mouth not to gossip about Adrian or Brian even during tea breaks, which I tried to skip. For the first 1 year, I didn't get any bonus or increment but after I quarrelled with Kien Lip, Adrian gave me a 3000 incentive instead of sacking me. I was told that they value my opinion and have high regards of me.
Not to disappoint them, I completed RNS almost singlehandedly. It was tough, especially I was still working during the CNY period.

After RNS is commissioned, I was immediately drafted to NMSC. It was a completely different project but I architected the UIs, networks, Software architecture & database. It was a tough 2-3 months in Brunei, where I can't see my Valencia often. It was fun and satisfacting to see the software (Server/Client SOA, remoting), Networking (Mulitple VLANs, Subinterfaces, Cascading), Client Client + Dialog integration works successfully. I even architect the AV server to have 5 subnets and 2 sound cards to cater for broadcast successfully. After this project, I was given 2000 incentive and a 8% increment. I even asked for a bonus with David when everyone in the company just keep mum. The one thing I can't work with is this guy called Joshua. Boot licking and stubbornness typifies this guy. He would only listen to people above him, refusing to take advise or instructions from others. A few times, I would argue with him on his approach.

2011 indeed was a successfully year to end. Completed 2 projects; Getting bonus and high increment caps it.

With PC7 in the pipeline, the company looks on the right track. Suddenly, things took a turn. Brian is forced out possibly by the emergence of Jason; Adrian is being forced out by Kevin Speed. All is not well, I dare say the company will not do well without Brian & Adrian. What is left of the company is dreams. The marketing management scraps PC7 and project a quite impossible sales target.

With no project in sight after 6 mths when NMSC is commissioned, I was worried also. Even with project, with due respect to Steven and his team, there is somehow lack of technical know-how to execute them. I remember proir to Jason's departure, he advised me to look elsewhere if there are still no project coming in the first quarter of this year. They have just signed a MOU between CAE Montreal and Brunei Mindef for MPTC but realistically the real contract will only be signed in 2014 and how much slice of the cake is Montreal going to give Singapore? The only high chance projects are RTT & Cab Sim upgrades. Sad to say, the only 2 persons with the adequate domain knowledge is Brian & me. I don't think the likes of Yeow Heng is up to the mark.

Air show fatigness & others

Since last Saturday, I have being involve in the Singapore Airshow 2012. These 2 days have to woke up as early as 5+am and stand throughout the show to 5+pm. This is really tiring and especially straining considering I can't send my kid to school and miss my time to spend with her. I really miss her. Am I an abnormal dad? I really love my child so much that everything I do now is for her sake. I want to earn alot of money and prepare her for a better future ahead.

There is still thoughts that will always be with me throughout this life:
a) Why does my dad doesn't seems to love me as much as I love my child?
b) Why does my dad doesn't apologise for his misdeed many years back?
c) Why does my dad doesn't feel proud about his son's achievement?

I guess I would not know the answer till I see God but One thing I do is I look forward and work hard for the things to come. Though is really scary to know that maybe the end times is coming with the emergence of the beast (widely known as a resurrected John Paul II Pope). There is no point with living in constant fear but in constant hopes and dreams instead. I believe that I can achieve much more in this coming years.

Disgusting people

These types of people I just can't stand:
a) People who act till they know eveything
b) People who boot lick the bosses.
c) People who gossip and complain alot.
d) People who made use of people and act as they are sacrificing for the people involved.

Housing Dilenma

I was caught in between a Geylang Lorong 27A 2000+ sqft penthouse & Treeline 1281 sqft 3 bedder. Both were 1.2m but Geylang one fetches 4.5k in rental while Treeline 3.8k. But then, it's Geylang and is older and on leasehold.

After much consideration, I have decided to go for Treeline. It is newer but smaller in terms of size. The reason I am buying this:

a)Near Kembangan MRT, in fact 5 mins walk.
b)Freehold in District 15
c)80k below bank valuation.
d)No agent fee.
e)Comes with Tenancy.
f)Good conditions and buying with furnitures.
g)Can move in next time if I did sell Ambra.

Today, I paid the stamp fee and exercise the option. It has been some process. Went to DBS, UOB, Citibank & Standard Charter to get Loan after DBS give me a scare by taking more than 1 week to process. In the end I chose Citibank fixed interest rate, it is less favourable than DBS but it allows me peace of mind.

Update on New Year

It's being quite awhile since I have updated this blog. Here are some updates:

Houses
I have sold my hdb for some 320k profit. Its always sad to sell your assets. The reason for my sale is that the house is too far out from the city and it is on a low floor. With the aggressive introduction of BTOs and likely increase percentage for 2nd timer applicants for BTOs, I suspect HDB has limited upside. I don't think HDB will drop much though.

Alot of analysts and people were hoping and saying property would definitely drop due to uncertain economic outlook and the introduction of Additional Sellers Stamp fee of 10% on foreigners. Contradictally, when I saw how singaporeans snap up new projects like Watertown, Parcwood, Tampines Trilliant at ridiculous high prices, I suspect property would not drop much. I think a 5-10% drop is max.

Property is still the safest investment in Singapore due to the aggressive printing of monies in US & EU. Throughout the year, salary increase has not catchup with the increase in properties prices. Therefore, We have decided to reinvest our money to get another private. Now in the process of competing the sale and getting the loan. The loan will be 40% but think instead of complaining, we just have to abide by the game rules. (I have heard bank staff can loan up to 90% of the sale amount - ridiculous). Where in Singapore can you find a freehold property in D15 for 950psf?

Jobs
Right now, its lull time at CAE. Adrian, Jason & Brian have left. Lately, I have being getting calls and interviews which are good signs. Hopefully, I can get a new job soon as I can't stay in a sinking ship for very long.

Valencia
This has being a tiring time for my child. We thought she would be better at childfirst, a full day child care center. But barely 2 weeks, she has being crying and even refuse to eat at the school. Enough is enough, we have to switch back to Chiltern House. Thank God, there is a morning slot available but different class from the one she came out from.