AUD:USD = 1.09 & AUD:SGD = 1.34 as at 28 Apr 2011

[Aussie Prick]

Yo-yo pessimistic prick, please do not curse otherwise, you will be hit by bad spell..

My Brisbane losses is pretty amazing actually. Refer : http://www.sammyboy.com/showthread.php?90851-I-m-a-Happy-Man.-Chicken-Success-!

6 yrs ago, my CPF was valued at a pathetic sum getting 2.5 return. Now (6 yrs later) I am proud to achieve my 1st mil (in fact, a few mil) plus gearing of 1mil. My bets are higher and my returns are higher too. I have almost 70%/yr ROI for the last 6yrs. I must admit Australia has been treating me very well.

Please do not tell me about inflation or affordability issues, I have gone beyond the level of concern. I am living in an upper class suburb - Balwyn / Kew - 50% increase in bananas is not going to harm me.

When the exchange rate hits 1.45 AUD to SGD, I'll return to shake leg.. otherwise, I will go to California if it hits 1.20 AUD to USD.

PAP has forced me to take on the world.. now I am a happy man

You know what, I think I'll rise above this and take the high road. I dont need to point out the obvious - that had you purchased certain assets in Singapore you, along with many, many Singaporeans would have amassed far greater returns that what you have stated. You seem out of touch with what is happening in Singapore. We have done very, very well in recent years. So its like I'm talking to a hawker who went to some country and made a small amount, only to discover that greater opportunities were to be had back home all along.

So instead I think I'll help you out here, before you make a fool of yourself.

Why not tell us instead about the true virtues life in Australia can provide, such as clear beautiful skies, an impartial judiciary, freedom of speech, the right to assemble, environmentalism, bipartisan politics and other more interesting facets of life in the west?

Really, those things are more important than the same old typical Singaporean money minded nonsense. Many of us have alot of money now, and we probably are much wealthier than you and your peers, after all.

So please dont bore us anymore. You are really not that impressive and there is nothing you have I or many Singaporeans could possibly want - except possibly exposure to some of the Western influences mentioned above.

So here is an attempt I am making to help you out here - after all these years you really don't sound like an Australian to me. Just a Singaporean without a red passport.

Unless of course the saying is true - you can take the Singaporean out of Singapore but not Singapore out of the Singaporean.

 

[neddy]

Its also increasingly being looked at as a proxy for Iron ore and China as well.

and RMB is increasingly being courted by Singapore as another alternative reserve currency.

I do not like this development at all. What do you think?

Singapore in talks to become next RMB trading hub
Monday, April 11, 2011 -- 14:03
Singapore may become the third location outside of Hong Kong and the mainland to trade the reniminbi, as Beijing moves gradually toward its goal of allowing the cross-border trade and investment of its currency, the Wall Street Journal reported.

The Monetary Authority of Singapore is in talks China’s central bank to become a market for buying and selling the renminbi, according to people familiar with the matter. Offshore trading in renminbi has proved very popular in Hong Kong since its introduction last year.

The local market for renminbi-denominated bonds, or “dim sum” bonds, is expected to reach US$27.7 billion by year-end, according to analysts at the Royal Bank of Scotland (RBS.LSE). China is also considering lifting a ban that prevents domestic banks from participating in the offshore renminbi-futures market, according to unnamed sources. Foreign banks like HSBC (HBC.NYSE, HSBA.LSE, HSB.Euronext, 0005.HK) and Standard Chartered (STAN.LSE, 2888.HK, STAN.NSE) currently dominate the market, which allows players to bet on the renminbi’s appreciations and companies to guard against fluctuations in currency.

 

[chewed]

what MAS means is that they are willing to have another washing machine for RMB in SG. 2 is not enuf!

 

[axe168]

Spot on ! I must declare... although I gave up my red passport, BUT I will drink blood for Singapore anytime !. (sorry, not drinking blood for PAP) Try asking the SG new migrants in particular from China and India ?? You guess is pretty much as mine. haha.

Perhaps I should reveal more about my plan : I will return to SG for a few years but when the 65yo bell rings, I will head back to Australia to collect my pension. I take Khaw Boon Wan's advice very seriously, however, I cannot guarantee my sons will follow my foot step. SG cannot accept the old bcoz of liability reasons, likewise, my sons cannot accept SG bcoz of irresponsible govt.

So here is an attempt I am making to help you out here - after all these years you really don't sound like an Australian to me. Just a Singaporean without a red passport.

Unless of course the saying is true - you can take the Singaporean out of Singapore but not Singapore out of the Singaporean.

 

[Aussie Prick]

and RMB is increasingly being courted by Singapore as another alternative reserve currency.

I do not like this development at all. What do you think?

Singapore in talks to become next RMB trading hub
Monday, April 11, 2011 -- 14:03
Singapore may become the third location outside of Hong Kong and the mainland to trade the reniminbi, as Beijing moves gradually toward its goal of allowing the cross-border trade and investment of its currency, the Wall Street Journal reported.

The Monetary Authority of Singapore is in talks China’s central bank to become a market for buying and selling the renminbi, according to people familiar with the matter. Offshore trading in renminbi has proved very popular in Hong Kong since its introduction last year.

The local market for renminbi-denominated bonds, or “dim sum” bonds, is expected to reach US$27.7 billion by year-end, according to analysts at the Royal Bank of Scotland (RBS.LSE). China is also considering lifting a ban that prevents domestic banks from participating in the offshore renminbi-futures market, according to unnamed sources. Foreign banks like HSBC (HBC.NYSE, HSBA.LSE, HSB.Euronext, 0005.HK) and Standard Chartered (STAN.LSE, 2888.HK, STAN.NSE) currently dominate the market, which allows players to bet on the renminbi’s appreciations and companies to guard against fluctuations in currency.

Another outlet for hot money into HK and Singapore. These are baby steps towards the RMB replacing the US$ as a reserve currency, but much needs to happen before the Yuan can be considered as such, namely:

* Ample liquidity
* Central bank credibility
* Flexible domestic financial markets
* Minimal government or political intervention
* Very deep and open domestic bond markets

Until it floats, we cant really consider the RMB to be a reserve currency though but by 2020 - might just happen.
　

 

[Aussie Prick]

Spot on ! I must declare... although I gave up my red passport, BUT I will drink blood for Singapore anytime !. (sorry, not drinking blood for PAP) Try asking the SG new migrants in particular from China and India ?? You guess is pretty much as mine. haha.

Perhaps I should reveal more about my plan : I will return to SG for a few years but when the 65yo bell rings, I will head back to Australia to collect my pension. I take Khaw Boon Wan's advice very seriously, however, I cannot guarantee my sons will follow my foot step. SG cannot accept the old bcoz of liability reasons, likewise, my sons cannot accept SG bcoz of irresponsible govt.

Again, is money, retirement all you talk about? In another thread you spoke of buying a boat. Why not tell us about that instead? Why not come over here and impress us with your experiences on the water, sipping some of that excellent Australian wine, enjoing beautiful weather, having a good time with friends, family, etc?

Oh and your other thread about gold - who cares? China is the worlds largest producer these days but what does Australian gold production have to do with your personal happiness in Australia?

Isnt it about time you learned to assimilate into Australian culture?

 

[neddy]

what MAS means is that they are willing to have another washing machine for RMB in SG. 2 is not enuf!

Not enough laundry at the moment.

See what is happening in HK,
http://www.businessweek.com/news/20...ian-hong-kong-yuan-ipo-declines-on-debut.html

April 29 (Bloomberg) -- Billionaire Li Ka-shing’s Hui Xian Real Estate Investment Trust, Hong Kong’s first stock sale denominated in yuan, fell on its debut after offering the lowest yield among property trusts in the city.

Hui Xian declined as much as 11 percent and ended its first day 9.4 percent lower at 4.75 yuan. The trust raised 10.5 billion yuan ($1.6 billion) selling units at 5.24 yuan each, the low end of its price range.

Backed by an office and retail development in Beijing, the trust has a forecast yield of 4.26 percent compared with an average estimated yield of 4.85 percent for Hong Kong-traded REITS. Hui Xian marked the first time in at least eight years that 82-year-old Li, the city’s richest man, had to settle for the lowest amount sought in an IPO of a property trust.

“One of the trust’s selling point was that you’re also betting on yuan appreciation, but this might’ve turned away some investors because they thought the procedure of exchanging yuan to invest is just too much trouble and complicated,” said Castor Pang, research director at Cinda International Holdings Ltd. “This adds to the fact that it offers a slightly lower return than most other REITs out there.”

Individuals applied for about 2.2 times the stock reserved for them, according to a statement to the Hong Kong stock exchange yesterday.

The three other REITs backed by Li that sold stock in IPOs since 2003 raised the maximum targeted amount, data compiled by Bloomberg show. Prosperity REIT, Li’s last REIT IPO in Hong Kong, which started trading in December 2005, drew retail orders of 300 times the stock on offer.