154th: Unemployed Sporns Shld Learn From Adam Khoo!

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Feb 22, 2009
me & money
</TR><!-- headline one : start --><TR>Big investor but frugal spender
</TR><!-- headline one : end --><TR>Adam Khoo Learning Technologies founder influenced by frugal dad to build own wealth </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Lorna Tan, Finance Correspondent
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'I have always saved at least 50 per cent of my income,' says Mr Khoo, seen here with his wife Sally and daughters Kelly (left) and Samantha. -- ST PHOTO: MUGILAN RAJASEGERAN
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Despite being a multimillionaire, entrepreneur-cum-motivational speaker, Adam Khoo still hesitates before spending on consumer products like his iPhone.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>BEST AND WORST BETS

Mr Khoo with his newly launched book, His motivational books are an integral part of his education business, which he sees as his best investment. -- PHOTO: BERITA HARIAN

Q: What's your worst investment?

... more​

</TD></TR></TBODY></TABLE>However, when it comes to investments, the founder of Adam Khoo Learning Technologies Group wouldn't even think twice when investing, say, $50,000 in stocks. This is because stocks are expected to potentially generate more money, he says.
A conservative and long-term investor, he prefers to invest in cash-rich, large-cap companies that have low debts and the potential to consistently increase their earnings.
His group, which focuses on education, comprises 16 firms in seven countries with an annual turnover of $15 million. He also took over his father's advertising firm, Adcom, in 1999.
A business administration degree holder from the National University of Singapore, Mr Khoo - who is all of 34 - is also known for his motivational books. Last month, he launched his ninth book, Profit From Panic, which gives practical tips on how to deal with the current economic crisis.
He is married to Ms Sally Ong, 38, who is a director at one of his firms. The couple have two daughters - Kelly, five, and Samantha, three.
Q: Are you a saver or spender?

One of the factors that helped me build up my wealth over the years is that I am relatively frugal.
I have always saved at least 50 per cent of my income and I don't believe in spending a lot of money on luxuries. I buy clothes once a year only when I'm in Bangkok or Indonesia. Usually I visit a shop for half an hour and pick up 10 shirts and trousers at one go. I am a person of simple taste, except when it comes to cars. I like fast cars.
I invest 100 per cent of my savings consistently. But when the market gets too overvalued, I hold a larger proportion in cash as a precautionary measure.
Q: How much do you charge to your credit cards each month?

I have three credit cards but I use only one regularly for my personal expenditure. I chalk up about $2,000 to $3,000 every month. I use my credit card instead of cash whenever I can for easy tracking purposes. I withdraw about $200 from the ATM each time.
I pay my credit card bill every month and if I get charged 10 cents for late payment interest, I will scream. I don't believe in paying the annual fee too and will ask the bank to waive it.
Q: What financial planning have you done for yourself?

My portfolio, which I manage myself, is made up of the following investments: property that I rent out, private businesses, Singapore stocks, US stocks and exchange- traded funds (ETFs). My investments have generated an average return of over 20 per cent per annum.
Currently, I have about US$400,000 (S$611,000) in US stocks, such as Boeing, Google, Nike, Pepsico, and ETFs, and another $400,000 in Singapore stocks, such as CapitaLand, OCBC Bank, the Singapore Stock Exchange, Bestworld and STI ETF.
When it comes to insurance, I believe in buying term and investing the rest. Still, I bought seven traditional plans such as whole life and endowment when I was young, because my wife is a former AIA agent and I had bought them from her. About four years ago, I bought a term with cover of $1 million which brings my total life cover to about $2 million.
Q: What property do you own?

In 1998, I bought a 1,300 sq ft condominium in East Coast for $480,000 and rented it out for about $3,000. I sold it for $650,000 in 2004.
I also have a 5,000 sq ft semi- detached house in East Coast which was bought four years ago for $1.3 million.
Early last year, I bought a 900 sq ft condo at Robertson Quay for $1.3 million. I'm renting it out at $4,000.
Q: Moneywise, what were your growing-up years like?

I come from a wealthy family where my father and uncles are savvy business people and investors. That background influenced my values, beliefs and attitudes towards the possibility of building immense wealth when one is prepared to work hard and educate oneself.
My father started his advertising firm Adcom in 1972 and mum was editor of the women's magazine, Her World. I was the only child. We lived in a bungalow in Changi.
However, what gave me the drive to build my own wealth and to value money is that my father is an extremely frugal man, and that rubbed off a lot on me. In those days, my dad would not even buy a brand-new car despite his wealth. He would compare prices of toilet paper and toothpaste all over the supermarket before deciding what to buy.
Q: How did you get interested in investing?

Every Chinese New Year, from the time I was 15, my grandfather would give me hongbao with cash plus Malaysian shares like Genting, Kuantan Flour Mill and Hicom.
When I was in the army, I started dabbling in shares.
At about that time, I was inspired by a book I read, Buffetology, based on the success and work of Warren Buffett. I was amazed by a man who was able to build his wealth purely through investing.
Q: What's the most extravagant thing you have bought?

A $230,000 red Lotus bought last October. It's a reward for myself.
Q: What's your retirement plan?

My passive income from book royalties, dividends and business profits is enough to cover my expenses so, technically, I can stop working if I really wanted to.
Q: Home now is...?

I live in the semi-detached house in East Coast.
Q: I drive...?

A red Lotus Elise and a red BMW convertible. [email protected]

 

[Leongsam]

One of the few smart Sinkies around. He knows full well that life is what you make it.

Most sinkies are idiots who do nothing but complain and blame others for all their misfortunes.

 

[Ah Guan]

Motivational speaking is as much a con job as the lehman minibond saga, madoff ponzi scheme, satyam, subprime etc

What is the real value of your services provided?

zilch
zip
zero

 

[DerekLeung]

Poor stock !

 

[char_jig_kar]

Q: Are you a saver or spender?

One of the factors that helped me build up my wealth over the years is that I am relatively frugal. I have always saved at least 50 per cent of my income and I don't believe in spending a lot of money on luxuries. I buy clothes once a year only when I'm in Bangkok or Indonesia. Usually I visit a shop for half an hour and pick up 10 shirts and trousers at one go. I am a person of simple taste, except when it comes to cars. I like fast cars. I invest 100 per cent of my savings consistently. But when the market gets too overvalued, I hold a larger proportion in cash as a precautionary measure.

*set off 'gong lung jiao way' (hokkien: talk cock, bullshit) detector...*

cars are not luxuries??

 

[depeche]

Yes, one of the smart singaporean around...well done!

 

[nickers9]

Motivational speaking is as much a con job as the lehman minibond saga, madoff ponzi scheme, satyam, subprime etc

What is the real value of your services provided?

zilch
zip
zero

Because of Adam Khoo, I trusted him as he is Singaporean and believed in him, in the end was conned by his business partner Stuart Tan.

In year 2007, Stuart Tan came out with a seminar called Internet Marketing Seminar. I thought since it is Adam Khoo business partner, so this seminar must be good and geuine, so I take up this seminar and it costs me I think near $3000. Turned out it is a mass rojak of previews by the so called Internet gurus like Ewen Chia and many others.

So when Ewen Chia came out and sell his internet products, Stuart Tan did came out and speak for all the Internet gurus speakers, and also because of Adam Khoo business partner Stuart Tan, so I think this Ewen Chia must be good and will not cheat us Singaporeans, so believed in them and signed for another $3000 package from Ewen Chia.

Turned out to be nightmare in the end, Ewen never delivered what he promised to us, so we wanted a refund. Suddenly Ewen is nowhere to be found, his office number never picked up, so look for Stuart Tan.

That Stuart Tan didnt help much, in the end money gone, Ewen Chia nowhere to be found too.

Because I believe in Adam Khoo, indirectly was cheated by his busines partner Stuart Tan. So now you tell me can I still trust Adam Khoo?

The story I tell you is a true story, a lot of people kanna cheated in that Internet Marketing Seminar conducted by Stuart Tan but nothing can be done. Wanted to report to the police, but it is a long and hassle progress which in the end might not get a single cents back. And I remember a friend of mine wanted to report this case to the Straits Time and email to Stuart Tan and you know what did that joker said? Stuart didnt humbly apologised and instead told my friend to go ahead.

So this is Stuart Tan, Adam Khoo business partner, now I dont trust Adam Khoo anymore, no matter how big his advertising or any crab come out from his mouth, I cannot believe it. I mean who knows, since he is business partner with Stuart Tan, I dont know whether did they scammed the Singaporeans together in the Internet Marketing Seminar in year 2007 or not?

I mean I dont know, God knows.

So I dont trust Stuart Tan, and since he is business partner with Adam Khoo, I dont trust Adam Khoo too.

As the saying goes, "Birds of the feathers, flock together."

 

[SIFU]

i conclude that it is very easy to earn your $$

 

[lubehsong]

One of the few smart Sinkies around. He knows full well that life is what you make it.

one of the the few smart and sucessful con artists around,he knows full well that singkies are not that smart and can be conned easily.
Most sinkies are idiots who do nothing but believe wholeheartedly what the con artists tell them.

 

[SIFU]

biggest con artist is still at large..

 

[popdod]

Q: Moneywise, what were your growing-up years like?

I come from a wealthy family where my father and uncles are savvy business people and investors.
That background influenced my values, beliefs and attitudes towards the possibility of building immense wealth when one is prepared to work hard and educate oneself.

My father started his advertising firm Adcom in 1972 and mum was editor of the women's magazine, Her World.
I was the only child. We lived in a bungalow in Changi.

However, what gave me the drive to build my own wealth and to value money is that my father is an extremely frugal man,
and that rubbed off a lot on me. In those days, my dad would not even buy a brand-new car despite his wealth.
He would compare prices of toilet paper and toothpaste all over the supermarket before deciding what to buy.
Q: How did you get interested in investing?

That makes a lot of differences in life.

He had a good startup, 2 good mentors & a nice cushion to fall back no matter how many failures he had encountered.


Ask any hawker son/daughter....can they do the same?

:o :o

 

[2lanu]

In year 2007, Stuart Tan came out with a seminar called Internet Marketing Seminar. I thought since it is Adam Khoo business partner, so this seminar must be good and geuine, so I take up this seminar and it costs me I think near $3000. Turned out it is a mass rojak of previews by the so called Internet gurus like Ewen Chia and many others.

Hi Bro, Internet marketing is a trend for future e-biz. Just like the paper today is saying on online social networking like Facebook or MYspace, these sites are not able "unlock the value" yet.

But I was almost conned by this Ewen Chia years back. His sales pitch sound good but the product is crap! What he promised what just purchase his product and he will guide you to kick start. But after doing so, he just reply you go read up urself.

And Ewen Chia was the creator of the site simplyrichsg.com

 

[2lanu]

Adam Khoo is trying to get free advertising for free. A friend of mine bought his book about stock. In the book he mentioned that he bought AIG(US) and OSIM(SG). Why din he said so in the interview?

I guessed these 2 stocks had submarined and not surfaced yet!

 

[Ah Guan]

Because of Adam Khoo, I trusted him as he is Singaporean and believed in him, in the end was conned by his business partner Stuart Tan....
As the saying goes, "Birds of the feathers, flock together."

Sorry to hear about your plight

You should check again the contract you signed with them

What were his deliverables? Did he fulfill them?

If there was a lapse, you can consult CASE

 

[popdod]

And Ewen Chia was the creator of the site simplyrichsg.com

So rich arh?
200k within 2 yrs?

 

[mscitw]

Professional Con Man.

 

[boring]

That makes a lot of differences in life.

He had a good startup, 2 good mentors & a nice cushion to fall back no matter how many failures he had encountered.


Ask any hawker son/daughter....can they do the same?

:o :o

can! the Creative boss Mr SIM, he help his mother sell chicken eggs when he was young

 

[angry_one]

There is certainly a segment of people who need people like Adam Khoo, esp in sinkapore where the working culture is to scold, disparage and de-motivate people. He scores big because he knows that motivational speaking and spouting half-truths can get him far here. At least he's reeling in the $$$$.

 

[Ah Guan]

There is certainly a segment of people who need people like Adam Khoo, esp in sinkapore where the working culture is to scold, disparage and de-motivate people. He scores big because he knows that motivational speaking and spouting half-truths can get him far here. At least he's reeling in the $$$$.

Sigh.... you are right... there really is a market for anything

My good friend and his wife in Sydney paid big money years ago for 'Boot Camp Training' 2 times a week at Bondi Beach.

An ex-military PTI (I think he was SAS) drilled yuppies into doing PT, running, 5 BX, Leopard Crawls etc on the beach... Apparently it was so damn popular in 2001/2 that it spawned many copy cats.

knn.. in sinkapore the gahmen want to charge NSmen for kenging RT... In Sydney people pay money to do that!

 

[imperialarms]

One of the few smart Sinkies around. He knows full well that life is what you make it.

Most sinkies are idiots who do nothing but complain and blame others for all their misfortunes.

without NS, we could be creating the next GOOGLE APPLE now