Singapore Economic News

[RachelProp]

Medtecs reports 3.6 times higher net profit of US$13.2 mil for 1Q21

https://www.theedgesingapore.com/capital...rumposting

[dreamybear]

I think Robinsons Online wld make an interesting case study for those who are interested in companies in the retail sector.

What is the competitive moat ? What is the strategy to make it work ? Cost savings thru' bulk orders ? Leverage on the collaboration with Grab ? the Robinsons brand name ? How to get shoppers to buy from Robinsons Online instead of other online platforms(e.g. Lazada, Shopee), other department stores(offline/online, e.g. Tangs, Metro) or even the brands' own online stores(e.g. Adidas)  ?

Robinsons customers cite mixed feelings ahead of store's online-only relaunch
https://www.straitstimes.com/singapore/c...y-relaunch

Although not 100% comparable, we cld also tie our observations back to the more popular "retail-based" threads like Challenger, Hour Glass.  

[Behappyalways]

生活费上涨 本地民众怎么说？
https://m.youtube.com/watch?v=5dIr2bBwjMk

[Behappyalways]

本地口罩需求量减少至少四成 已有10%公司退出口罩市场
https://m.youtube.com/watch?v=-oIpc4xYMZQ

[dreamybear]

Retail tranche of Astrea VI Private Equity Bonds receives over $784 million in applications

It's here again ..... 

"....The public offer of Astrea 7 PE bonds comprises S$280 million in Class A-1 bonds, which pay a fixed interest rate of 4.125 per cent per annum, above the coupon for Class A-1 bonds in the previous Astrea V and VI issuances. 
Retail investors can also apply for US$100 million in Class B bonds, which pay a higher fixed interest rate of 6 per cent per annum. However, these bonds come with a higher credit risk profile, as they rank junior to Class A-1 and A-2 bonds and are behind Class A bonds in terms of priority of payment...."

In a dilemma whether to apply or save my bullets in case economic conditions go south leading to stock bargains .....

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Temasek’s Azalea launches Astrea 7 PE bonds with fixed coupon of 4.125% and 6%
https://www.businesstimes.com.sg/banking...4125-and-6

[dreamybear]

Reading the article has given me some insights to the earlier days of Singapore, e.g. MY/SG were extremely poor after WWII. Given the context, I can better understand the rational of some policies(in general not only housing per se) implemented by the govt at that time(e.g. where survival as a country is really an issue). However, at the developed country stage, while not taking things per granted and noting that policies have been revised over the years, from a citizen's viewpoint, I think there are still some which need to be reviewed more thoroughly.

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The man who helped create Singapore’s housing boom is getting worried
https://sg.finance.yahoo.com/news/the-ma...48769.html

The Pay Check Singapore: Who Gets to Be Crazy Rich? (referenced by the article)
https://www.bloomberg.com/the-paycheck

[CY09]

This has to do more with the informal social compact forged between the Singapore Government and its citizens.

As long as the government provides affordable housing and good jobs, the citizenry would not go into politics and disrupt their running.

However in recent times, this social compact is breaking down. While the government has still created good jobs, it has created jobs in the wealth management/ agency industries resulting in its citizens having an inadequate retirement. There have been cases reported where people are collecting matured insurance policies which is only equivalent to their premiums paid or slightly less. As a result, citizens have to work longer than the recommended age 62 since their savings rate is not significant.

For housing, unlike previous where the maximum is 2-3 BTO cycles before a couple obtains a housing in a non mature estate, it has gone worse. The current ratio of 3 to 1 applicants means couples can end up waiting for the 4th to 5th cycle before obtaining a house in a non mature estate. The situation for the growing group of singles citizens has worsened as well where singles would take about 10-11 cycles (approx. 3 years before being able to secure a flat and wait for 4 years to construct). Its a growing group whose needs are not serviced and are nudged to buy expensive resale and condo units for their housing. A leading opposition party in Singapore is aware of this and hence in their manifesto had a section of it where it promised to fight for the housing needs for this group, this was one of the reason for its good showing in the last GE.

The above shows that the social compact forged is now breaking and there has been quite a significant discontent among the younger citizenry base.

Of course, the impact has been mitigated where the social compact forged with new citizens helps the ruling party secure a support base due to the less stringent housing policies this group enjoys compared to the rest such as the ability to own a resale flat despite being single at any age and therefore being eligible for a lot more housing subsidies. This is a privilege in which other citizen groups are not afforded

[dreamybear]

On the topic on creating jobs in wealth mgmt and associated industries, I have been wondering whether the official stats include those "freelance/self-employed" roles in the finance sector. 

While I can't say for all, from my own experience, the full-time jobs in the financial sector pays (in some cases much e.g. investment banking) better than the other sectors. In that sense, I think it wld be gd if more citizens are able to engage in full-time employment there.

I think during the earlier times(e.g. 90s) in SG, employers are open to taking up graduates from different disciplines and then grooming them in their careers. The competition for jobs is now more intensive relatively.

Well, every country has its own set of challenges, we just have to try our best to take care of our family.

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PAP MP Ang Wei Neng on visit to Changi Business Park: 'I felt like a foreigner in my own country'
https://mothership.sg/2020/08/ang-wei-ne...st-changi/

Q : To ask the Minister for Manpower what is the current percentage of Employment Pass holders, permanent residents and Singaporeans holding senior roles in the finance sector.
https://www.mas.gov.sg/news/parliamentar...%20holders.
"1. As at end-2021, about 71% of the financial sector workforce were Singapore Citizens, 14% were Permanent Residents, and 15% were work pass holders."

Employment Pass salary criterion to be raised to at least $5,000 for financial services sector from Dec 1
https://www.straitstimes.com/business/ba...ces-sector

[weijian]

Post 1997, a lot rich Indonesians (lead by Liem Sioe Liong) relocated to Singapore. Now, there is a bigger source for influx of the new rich onto the Little Red Dot.

Crazy rich relocations: Singapore becomes a haven for Chinese elite

In the broader geopolitical context, Singapore is only becoming more attractive.

Parents “don’t want to send their kids to the west”, says one multi-millionaire and long-term Singapore resident, pointing to growing hostility towards China and racism against Chinese people in the west. “You cannot go to Hong Kong. Singapore is the most Chinese place you can go to.”

According to the ex-Singapore official, “If you go and live in a western country, you are really burning bridges with China. We are friendly enough with China. We are geographically close, we are culturally close. You can call it a ‘China plus one’ strategy. And we are the plus one.”

In 2021, as Beijing was tightening its grip on Hong Kong’s lawyers and politics, the EDB published a report extolling “Singapore’s political stability and strong rule of law”. It also highlighted how “family businesses can look forward to quality healthcare, housing and education”. By the end of 2020, there were some 400 family offices in Singapore, it noted — double the number a year earlier.

Some clients were even granted “special permission” to fly into Singapore during the height of the pandemic, when residents faced one of the world’s strictest lockdowns, says Poon of DBS.

https://www.ft.com/content/aa94441e-c1cb...152d679c59

[Behappyalways]

Singapore waves red flag on foreign interference, fears impact of naming
https://sg.news.yahoo.com/singapore-red-...45826.html

https://m.youtube.com/watch?v=vSyockB8QaM