We have confirmed entrance for the December 4th 10k run in Singapore. We were too small to enter a corporate team as you needed 25 runners, but we've all entered and are now in active training.
This is a great example of our ethos of Helping People and Achieving Goals
More info here
Sunday, July 17, 2011
Tuesday, July 12, 2011
Updated Meyado Singapore Website Features
We are pleased to confirm the launch of our client section of the Meyado Singapore website.
Clients can now log in and access a range of services including full online administration support, asset allocation recommendations and valuations of their investments. Additionally all member clients now have access to the exclusive Meyado investment platform giving cost effective and flexible access to thousands of funds and ETF's.
For more details visit http://www.meyado.com.sg/ and click on Straits Membership
Clients can now log in and access a range of services including full online administration support, asset allocation recommendations and valuations of their investments. Additionally all member clients now have access to the exclusive Meyado investment platform giving cost effective and flexible access to thousands of funds and ETF's.
For more details visit http://www.meyado.com.sg/ and click on Straits Membership
Singapore ranked 8th most expensive city for expats
LONDON - SINGAPORE has entered the top 10 list of Mercer's 2011 cost of living survey, moving up two spots to be ranked the 8th most expensive city for expatriates. Angola's capital, Luanda, has retained the unenviable title of the world's most expensive city for expatriates, narrowly edging out Tokyo, according to the survey published on Tuesday.
At the other end of the scale, the Mercer group's study named the Pakistani port Karachi as the least expensive city, with living around three times cheaper than in Luanda.
New entries in the top 10 list of the costliest cities in the world for expatriates are Singapore (8), up from 11, and Sao Paolo (10), which has jumped 11 places since the 2010 ranking.
The most expensive city in Asia is Tokyo (2), followed by Osaka (6). Singapore (8) has joined the list of the world's top 10 most expensive cities in the world due to the strengthening of the Singapore Dollar and the substantial increase in housing costs.
It is followed by Hong Kong (9) whose ranking dropped by one position due to the devaluation of the Hong Kong Dollar which is pegged to the US Dollar, even though there was considerable increase in housing costs.
During the past year, the US Dollar has devalued against most Asian currencies. In particular, the Singapore Dollar and Australian Dollar appreciated considerably, not only against the US Dollar, but against other currencies such as the Euro and British Pound. -- AFP
Background:
The Mercer cost of living survey covers 214 cities across five continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is the world's most comprehensive cost of living survey and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city and all cities are compared against New York. Currency movements are measured against the US dollar. The cost of housing - often the biggest expense for expatriates - plays an important part in determining where cities are ranked.
At the other end of the scale, the Mercer group's study named the Pakistani port Karachi as the least expensive city, with living around three times cheaper than in Luanda.
New entries in the top 10 list of the costliest cities in the world for expatriates are Singapore (8), up from 11, and Sao Paolo (10), which has jumped 11 places since the 2010 ranking.
The most expensive city in Asia is Tokyo (2), followed by Osaka (6). Singapore (8) has joined the list of the world's top 10 most expensive cities in the world due to the strengthening of the Singapore Dollar and the substantial increase in housing costs.
It is followed by Hong Kong (9) whose ranking dropped by one position due to the devaluation of the Hong Kong Dollar which is pegged to the US Dollar, even though there was considerable increase in housing costs.
During the past year, the US Dollar has devalued against most Asian currencies. In particular, the Singapore Dollar and Australian Dollar appreciated considerably, not only against the US Dollar, but against other currencies such as the Euro and British Pound. -- AFP
Background:
The Mercer cost of living survey covers 214 cities across five continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is the world's most comprehensive cost of living survey and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city and all cities are compared against New York. Currency movements are measured against the US dollar. The cost of housing - often the biggest expense for expatriates - plays an important part in determining where cities are ranked.
Monday, July 11, 2011
Sunday, June 26, 2011
Thursday, June 2, 2011
Singapore Property Market View
When a country registers a 15 percent growth rate, as Singapore did last year, there is bound to be a spill-over wealth effect. Singapore’s housing market has been cashing in on this big time - prices have rebounded 50 percent in just two years, according to the Urban Redevelopment Authority, and cooling measures by the government have done little to calm them.
By 2014 an unprecedented number of housing units are expected to enter the Singapore market.
At a recent real estate conference organized by the National University of Singapore, which explored the theme “Will the boom never end,” Chua Chor Hoon, Head of South East Asia Research at property consultancy DTZ, said the Singapore residential market is not likely to decline much because of strong economic growth. But, she also outlined a worst-case scenario, which could unfold as early as 2013-2014. "If all the ingredients come together it will make a perfect storm," she told the audience.
These ingredients include falling demand, more supply and higher interest rates all kicking in together.
Interest rates in Singapore are currently at record lows because lending rates in the city-state track U.S. monetary policy. That’s allowed some homebuyers to pay less than one percent in the first year of their loans, says Chua. Most analysts, however, expect interest rates to begin moving higher later this year.
Second, in 2014 an unprecedented number of housing units are expected to enter the market. According to the URA’s latest quarterly report, 32,359 units will be completed over 2013 and 2014 that is 85 percent more than the 17,501 units expected over 2011 and 2012.
Add to this the fact that Singapore’s price-to-rent ratio has increased from 20 in 2009, during the financial crisis, to 25 currently, according to URA and DTZ research. That means it will take 25 years for a homebuyer to recover, through rents, what he paid for the house. As a result, Chua says, people investing in this market often have a short-term view looking to “flip” the property for capital gains.
Foreign buyers are also helping boost Singapore’s property market, especially at the high end. According to DTZ’s latest report, foreign buyers of private homes in the first quarter of 2011 touched a record high of 16 percent. But Chua points out that this could drop, if the government further tightens immigration rules.
“Local concerns about high housing prices and the influx of foreigners that were magnified during the recent General Election will be a catalyst for the review of immigration and housing policies, which could dampen demand in the residential market in the coming months, ” Chua wrote in a report.
While growth forecasts for Singapore over the next five years at 4-6 percent will support the property market says Chua, one cannot rule out another unforeseen external crisis like the financial meltdown, which could also lead to a market crash. While the bulls might find it hard to believe that something like that can happen again, another speaker at the same conference had this to say: “We always think this time it will be different, but it never is.”
By: Gauri Bhatia
Features Editor, CNBC.com Asia Pacific
Contact Meyado to discuss how this may affect you
By 2014 an unprecedented number of housing units are expected to enter the Singapore market.
At a recent real estate conference organized by the National University of Singapore, which explored the theme “Will the boom never end,” Chua Chor Hoon, Head of South East Asia Research at property consultancy DTZ, said the Singapore residential market is not likely to decline much because of strong economic growth. But, she also outlined a worst-case scenario, which could unfold as early as 2013-2014. "If all the ingredients come together it will make a perfect storm," she told the audience.
These ingredients include falling demand, more supply and higher interest rates all kicking in together.
Interest rates in Singapore are currently at record lows because lending rates in the city-state track U.S. monetary policy. That’s allowed some homebuyers to pay less than one percent in the first year of their loans, says Chua. Most analysts, however, expect interest rates to begin moving higher later this year.
Second, in 2014 an unprecedented number of housing units are expected to enter the market. According to the URA’s latest quarterly report, 32,359 units will be completed over 2013 and 2014 that is 85 percent more than the 17,501 units expected over 2011 and 2012.
Add to this the fact that Singapore’s price-to-rent ratio has increased from 20 in 2009, during the financial crisis, to 25 currently, according to URA and DTZ research. That means it will take 25 years for a homebuyer to recover, through rents, what he paid for the house. As a result, Chua says, people investing in this market often have a short-term view looking to “flip” the property for capital gains.
Foreign buyers are also helping boost Singapore’s property market, especially at the high end. According to DTZ’s latest report, foreign buyers of private homes in the first quarter of 2011 touched a record high of 16 percent. But Chua points out that this could drop, if the government further tightens immigration rules.
“Local concerns about high housing prices and the influx of foreigners that were magnified during the recent General Election will be a catalyst for the review of immigration and housing policies, which could dampen demand in the residential market in the coming months, ” Chua wrote in a report.
While growth forecasts for Singapore over the next five years at 4-6 percent will support the property market says Chua, one cannot rule out another unforeseen external crisis like the financial meltdown, which could also lead to a market crash. While the bulls might find it hard to believe that something like that can happen again, another speaker at the same conference had this to say: “We always think this time it will be different, but it never is.”
By: Gauri Bhatia
Features Editor, CNBC.com Asia Pacific
Contact Meyado to discuss how this may affect you
Sunday, May 29, 2011
Investing is a lifetime commitment
Georgian England, the late 1700’s and England has a problem, old people who are no longer fit to work are lying destitute in the streets. The government of the time, in an effort to provide some form of shelter for these unfortunate souls, establish work houses. It would take some dire circumstances for someone to knock on the door of one of these imposing buildings and to ask for sanctuary but with no state benefit to rely upon this was the only option for many. This system existed until later Victorian times when the state began to intervene and support those who could not provide for themselves.
In 1908 the Old Age Pension Act came into force and compulsory pension contributions began in 1909 – finally there was some provision for those not of independent means to enjoy, if not a comfortable retirement, an existence come old age.
Back to the modern age and we have been educated that we need to save, learn to provide for ourselves and our families through investing and insuring ourselves. Pensions and savings have become an entire industry, companies like ours, as well as banks and insurance firms, rely upon people’s need and desire to create wealth and live more comfortably, having lifetime commitments to savings. Governments around the world put incentives in place to force and encourage people to save, through tax incentives and legislation, for their retirement so they are not a burden to the state.
In Singapore the non PR British expatriate has no such incentive. Whilst we can contribute to the state pension system in the UK by National Insurance, most people do not, and the vast majority do not make enough or indeed any personal pension provision. Add to that, in the main, without tax incentives or compulsory government legislation companies are not providing for their staff. Ah, Georgian England looms, but where are the provisions for us poor expatriates? Well of course they don’t exist so solutions for savers need to be found, firstly to source suitable investments and secondly to manage them.
There are some basics to consider when sourcing a long term investment solution. They are to establish objectives, then set a time frame, calculate the amounts affordable to set aside, the access requirements, attitude toward risk, flexibility to change structure, fees and charges, and tax implications. Having a defined investment strategy will help ensure that savers have a plan to stick to – if a discipline is maintained on stop gains and losses savers will be much more likely to achieve their goals. Investments should be simple, understandable and have defined objectives. Once these are in place the next step is to seek solutions.
For long term, companies like Meyado advise on amongst other things, international savings schemes, but even these are not entirely perfect. Flexibility of these savings plans is usually priority for investors, however flexibility means that at the first sign of decreased cash flow or change in circumstances the pension is the first to suffer – whether it be a family emergency or redundancy, not to mention a new car or holiday. Flexibility of these plans is one of their biggest weaknesses for discipline when there are other distractions for savers cash. Large bonuses exist to entice long term savings and you savers take advantage of that, but this should account only for a portion of their savings ability. Most long term savings are created by accumulating money on a monthly basis, so the savings level needs to be pertinent – in general savers should aim to accumulate between 20 and 40% of their income in savings, split between short term cash, medium term capital and long term income provision.
If savers have accumulated capital, or have received a lump sum from the sale of a house, or inheritance perhaps, the investment strategy should be different. With monthly cost averaging savers can afford to take higher risks, with capital they should look for a strategy which will not put their principle at undue risk, but give you opportunities to outpace inflation in terms of growth. Not easy, but the investment world learns quickly and there are many firms out there being creative and structuring funds and other investments which do just that. Direct investment in shares for most clients who are busy working full time should represent no more than 20% of their portfolios, mainly due to the time and effort versus reward. Warren Buffet has an approach of holding no more than 10 investments, and aim for value and dividend income, quite sensible.
Conducting ongoing reviews with any investment is vital, as taxation in the UK can be harsh, benefits often being treated as income rather than capital gains. These rules are constantly changing and there are plenty of urban myths when it comes to what works and does not when it comes to repatriation. Certainly the UK government does not make it simple for non residents to accumulate pension benefits whilst living outside of the country and bring them back into the UK tax efficiently.
All is not lost though. It is a complex situation but if you are disciplined and put some sensible plans in place you can reach that elusive goal called financial freedom, giving you the choice to do what you like later on in life. However, one thing is for sure, if you don’t provide for yourself no one else is going to force you to and that could land you in some serious old age trouble.
In 1908 the Old Age Pension Act came into force and compulsory pension contributions began in 1909 – finally there was some provision for those not of independent means to enjoy, if not a comfortable retirement, an existence come old age.
Back to the modern age and we have been educated that we need to save, learn to provide for ourselves and our families through investing and insuring ourselves. Pensions and savings have become an entire industry, companies like ours, as well as banks and insurance firms, rely upon people’s need and desire to create wealth and live more comfortably, having lifetime commitments to savings. Governments around the world put incentives in place to force and encourage people to save, through tax incentives and legislation, for their retirement so they are not a burden to the state.
In Singapore the non PR British expatriate has no such incentive. Whilst we can contribute to the state pension system in the UK by National Insurance, most people do not, and the vast majority do not make enough or indeed any personal pension provision. Add to that, in the main, without tax incentives or compulsory government legislation companies are not providing for their staff. Ah, Georgian England looms, but where are the provisions for us poor expatriates? Well of course they don’t exist so solutions for savers need to be found, firstly to source suitable investments and secondly to manage them.
There are some basics to consider when sourcing a long term investment solution. They are to establish objectives, then set a time frame, calculate the amounts affordable to set aside, the access requirements, attitude toward risk, flexibility to change structure, fees and charges, and tax implications. Having a defined investment strategy will help ensure that savers have a plan to stick to – if a discipline is maintained on stop gains and losses savers will be much more likely to achieve their goals. Investments should be simple, understandable and have defined objectives. Once these are in place the next step is to seek solutions.
For long term, companies like Meyado advise on amongst other things, international savings schemes, but even these are not entirely perfect. Flexibility of these savings plans is usually priority for investors, however flexibility means that at the first sign of decreased cash flow or change in circumstances the pension is the first to suffer – whether it be a family emergency or redundancy, not to mention a new car or holiday. Flexibility of these plans is one of their biggest weaknesses for discipline when there are other distractions for savers cash. Large bonuses exist to entice long term savings and you savers take advantage of that, but this should account only for a portion of their savings ability. Most long term savings are created by accumulating money on a monthly basis, so the savings level needs to be pertinent – in general savers should aim to accumulate between 20 and 40% of their income in savings, split between short term cash, medium term capital and long term income provision.
If savers have accumulated capital, or have received a lump sum from the sale of a house, or inheritance perhaps, the investment strategy should be different. With monthly cost averaging savers can afford to take higher risks, with capital they should look for a strategy which will not put their principle at undue risk, but give you opportunities to outpace inflation in terms of growth. Not easy, but the investment world learns quickly and there are many firms out there being creative and structuring funds and other investments which do just that. Direct investment in shares for most clients who are busy working full time should represent no more than 20% of their portfolios, mainly due to the time and effort versus reward. Warren Buffet has an approach of holding no more than 10 investments, and aim for value and dividend income, quite sensible.
Conducting ongoing reviews with any investment is vital, as taxation in the UK can be harsh, benefits often being treated as income rather than capital gains. These rules are constantly changing and there are plenty of urban myths when it comes to what works and does not when it comes to repatriation. Certainly the UK government does not make it simple for non residents to accumulate pension benefits whilst living outside of the country and bring them back into the UK tax efficiently.
All is not lost though. It is a complex situation but if you are disciplined and put some sensible plans in place you can reach that elusive goal called financial freedom, giving you the choice to do what you like later on in life. However, one thing is for sure, if you don’t provide for yourself no one else is going to force you to and that could land you in some serious old age trouble.
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About Me
- Mark Paine
- I joined Meyado Private Wealth Management as an international financial adviser in 1993. I have lived and worked in the USA, Europe, the Middle East and currently reside in Singapore in South East Asia where I am Managing Director of Meyado Pte. I am a qualified Financial Representative in Singapore under the MAS Financial Advisers Act as well as holding UK FSA CFP and FPC examinations and a BSc in Business and Law from the University of Hertfordshire in the UK. You can contact me at markpaine@meyado.com
