Economic News

[rotikok]

So near and cheap? Haha... Nope. I'm not going to Johor for those reasons. And my colleagues/friends and I are not frequent travelers there also. We go on a need-to-go basis. We have nothing against Johor. Neither do we take our cars and drive in cos it's so "near and cheap". Near but with jam? Cheap... how cheap? At the cost of time?

"Open a whole new world" or "playground" are just colorful descriptions. Singaporeans going into Johor is just one snapshot of lifestyle possibilities. I have 2 colleagues who go traveling to Australia and Japan every year with their families without fail. They love the countries so much. Some others go to famous Korea 2-3 times a year. There are many more brilliant ways to enjoy life. Not just driving in to Johor on the weekend.

You enjoy Johor, people enjoy Europe. You enjoy living in a 2,500 sq ft Johor house, others still find love within the family living in a 1,000 sq ft HDB flat. You as a Singaporean send your kids to study in a school in Johor, Singaporean/Malaysian parents find great pride their kids are studying in Singapore schools. There's no right or wrong.

Haha... I don't know what you mean by "my job gives me good things in life to enjoy... so I should enjoy it for as long as I can". Lame! It's like me saying, since you enjoy your Johor house, you should enjoy staying in it for as long as it exists.

But just for the record, yup, my job is stable, it pays me well, I don't have to worry the cost of living here in SG is too high and so I need to move over to Johor. But I'm not arrogant about it. Johor is good in its own right. But SG has many strengths too.

Actually kinda understanding your points. But you cannot denial others ppl circumstances as well, ppl like Frodo, or ppl with huge commitment like family sole breadwinner, 3 kids with 4 ill elderly etc or ppl who just want spacious living. Maybe now it seem there is no investment value (really? no more positive news to push the price?)....but you cannot ignore the consumption value for buying (and not renting) the ppty....or maybe who know in future might have insurance value?

Do your friend try to cost down going to Europe weekly? So rich ah? All I know is, average singaporean, the only way to own a landed living is not far away, only way to cost down, also not far away; this is what we call consumption value, even the ppty devalue like car, you still can enjoy things.. those western standard of living (house, car) that normally average singaporean find it hard to enjoy. I know la, your jobs pay you well, those thing easily affordable, or you try to ignore the fact that average singaporean desire are beyond HDB and MRT, but please thinks for others who earn average, want good things that beyond their ability. Not everyone happy with HDB esp when their family is big....4 ppl family i find it quite compacted liao (under malaysian standard of living). But then after all is individual choices and I respect that, they can have better standard of living if they choose to but quality of living will deteriorate because of jam. Situation will change when connectivity improved. Singapore has many strength and one of its strength is that it is close to Iskandar, average singaporean must know they have this option and it is their strength too.

Your words are full of speculation. Just "10% will be a huge impact". Where did you get that from? Why not say 20% or 30%?

Your tolerance is 30 mins. Did you check what the tolerance level of other drivers are?

You BELIEVE when that happens, I will be WRONG. Who asked you to judge me? Is it already happening that there are signs traffic is improving or will improve?

The question is not whether I will be right or wrong. I'm not interested in people praising me because I am right, or trashing me because I will be wrong. A smart or careful investor should be asking what is the probability, and what are the risks one is facing.

Sure, no one knows what will happen in the next 10 years. That's why I always say know your risks. I've been repeating this till I am so tired. There are no right or wrong answers. If you have $10,000 now and you are willing to take the risk to buy 4D, hoping that you can strike the First Prize, sure, go ahead. No one can say you are 100% wrong. You may strike it big! Or you can lose the $10,000. That's the risk you are taking.

Analysts and banks with no vested interest are saying to avoid investing in Iskandar obviously because they have the facts, figures and news to prove. It's up to individuals to weigh the pros and cons, and understand the risks they are taking if they choose to plunge their money there. The problem is, many Singaporeans rushed in without even considering these. They bought because of herd mentality. They choose to believe whatever the cunning agents tell them. They just hope -- "Ya ya, I know the negative news, but property prices always go up." Is it true? A kindergarten kid also knows how to say that!

For every high risk taker in investment who made it big, there are probably 10x similar people who got badly burnt. Just like we read all the nice stories of entrepreneurs successful in setting up their businesses. But the newspapers will hardly report 10 other stories of those who became bankrupt or failed miserably.

Oh well..... do not agree with my figures? You can come out with your own.... to be frank, I do not have evidences to support my number but if i use public rail commute to cross the strait, 30 min not intolerable right? I know, your time more precious.

And are we on the same tense, mine is future tense in my previous post so how can it be "already happening"? OR you outright disagree HSR RTS will improve traffic flow in future？ Have evidences to support your claim? We need your evidences to tell the authority refrain from doing what they plan to do...it will be waste of money if things not getting better.

Let me explain, the whole iskandar bull were at its peak when the RTS, HSR planned to be built by 2016-2020, and many condo will come into market along the this period. When these 2 catalyst still no way near ground breaking.... the impact is what we already seeing. Current condition, people need to avioding it much earlier, like 3-4 years back, that time analysts and banks not even one were telling the risk, they do not have the facts, figures and news to prove it when it was 3-4 years back. Now all these "evidences" that we are seeing now are based on current demand and future supply curve. So are your banks and analysts going to tell you how future demand curve will look like using current facts, figures and news? They are not going to and they are unable to.... basically what analysts and banks is doing, is that they are telling you what is happening now, no investment value to begin with. I think if you believe so much about analysts and banks....3-4 years back, Frodo etc will welcome you to JB.

Also avoid is the big word, like total collapse for a big ticket item call property. Actually I think I shared the same assessment with you about current condition...bad. But I see opportunity, you follow the herd liao, avoiding totally.

So you think HSR and RTS chances of happening is as slim as betting on lottery? Why not lets bet. Land acquisition for RTS, section 4 procedure is around the corner, after that will have 1 year time before official land acquisition is finalise. When section 4 release, I will tell you how the game start .

*other name for "A smart & careful investor" is average investor. Successful investor are smart and foresighted, careful will make you easily follow the crowd.*

 

[Frodo]

Actually kinda understanding your points. But you cannot denial others ppl circumstances as well, ppl like Frodo, or ppl with huge commitment like family sole breadwinner, 3 kids with 4 ill elderly etc or ppl who just want spacious living. Maybe now it seem there is no investment value (really? no more positive news to push the price?)....but you cannot ignore the consumption value for buying (and not renting) the ppty....or maybe who know in future might have insurance value?

Do your friend try to cost down going to Europe weekly? So rich ah? All I know is, average singaporean, the only way to own a landed living is not far away, only way to cost down, also not far away; this is what we call consumption value, even the ppty devalue like car, you still can enjoy things.. those western standard of living (house, car) that normally average singaporean find it hard to enjoy. I know la, your jobs pay you well, those thing easily affordable, or you try to ignore the fact that average singaporean desire are beyond HDB and MRT, but please thinks for others who earn average, want good things that beyond their ability. Not everyone happy with HDB esp when their family is big....4 ppl family i find it quite compacted liao (under malaysian standard of living). But then after all is individual choices and I respect that, they can have better standard of living if they choose to but quality of living will deteriorate because of jam. Situation will change when connectivity improved. Singapore has many strength and one of its strength is that it is close to Iskandar, average singaporean must know they have this option and it is their strength too.



Oh well..... do not agree with my figures? You can come out with your own.... to be frank, I do not have evidences to support my number but if i use public rail commute to cross the strait, 30 min not intolerable right? I know, your time more precious.

And are we on the same tense, mine is future tense in my previous post so how can it be "already happening"? OR you outright disagree HSR RTS will improve traffic flow in future？ Have evidences to support your claim? We need your evidences to tell the authority refrain from doing what they plan to do...it will be waste of money if things not getting better.

Let me explain, the whole iskandar bull were at its peak when the RTS, HSR planned to be built by 2016-2020, and many condo will come into market along the this period. When these 2 catalyst still no way near ground breaking.... the impact is what we already seeing. Current condition, people need to avioding it much earlier, like 3-4 years back, that time analysts and banks not even one were telling the risk, they do not have the facts, figures and news to prove it when it was 3-4 years back. Now all these "evidences" that we are seeing now are based on current demand and future supply curve. So are your banks and analysts going to tell you how future demand curve will look like using current facts, figures and news? They are not going to and they are unable to.... basically what analysts and banks is doing, is that they are telling you what is happening now, no investment value to begin with. I think if you believe so much about analysts and banks....3-4 years back, Frodo etc will welcome you to JB.

Also avoid is the big word, like total collapse for a big ticket item call property. Actually I think I shared the same assessment with you about current condition...bad. But I see opportunity, you follow the herd liao, avoiding totally.

So you think HSR and RTS chances of happening is as slim as betting on lottery? Why not lets bet. Land acquisition for RTS, section 4 procedure is around the corner, after that will have 1 year time before official land acquisition is finalise. When section 4 release, I will tell you how the game start .

*other name for "A smart & careful investor" is average investor. Successful investor are smart and foresighted, careful will make you easily follow the crowd.*

If I may add one comment, I feel the point about no quality of life in JB may not capture the correct picture. Looking at the typical life of a Singapore family, where both parents need to work, and kids are slogging for exams and facing stress at schools, taking tuition and make-up classes etc...will most people say this is "quality life"? I just read that there were 2 JC students who killed themselves because of the stress faced in school (http://www.tnp.sg/news/singapore-news/distress-signal) and also that there were other cases. Unfortunately these people died, but how many are silently suffering but did not choose to take that fatal decision? For me, the quality of life is not measured by the time I spent at the jams. I use that time for reading ebooks and keeping my brain active. Back home I will take family out for meals, go through some work with them, do housework. I don't have much life outside of work and home, no dinners with colleagues or friends except for the rare meetups. After work I chiong JB, literally! Need to beat the jams and clear it as fast as possible to reach home and be with family. Well, maybe that's not mpan12's preferred kind of life, but that's how I can make it for mine for now. Maybe there's a better way, and there surely is....if only I have $2.6m in my bank account I will retire early and go full on quality life.

 

[Tekkun]

If I may add one comment, I feel the point about no quality of life in JB may not capture the correct picture. Looking at the typical life of a Singapore family, where both parents need to work, and kids are slogging for exams and facing stress at schools, taking tuition and make-up classes etc...will most people say this is "quality life"? I just read that there were 2 JC students who killed themselves because of the stress faced in school (http://www.tnp.sg/news/singapore-news/distress-signal) and also that there were other cases. Unfortunately these people died, but how many are silently suffering but did not choose to take that fatal decision? For me, the quality of life is not measured by the time I spent at the jams. I use that time for reading ebooks and keeping my brain active. Back home I will take family out for meals, go through some work with them, do housework. I don't have much life outside of work and home, no dinners with colleagues or friends except for the rare meetups. After work I chiong JB, literally! Need to beat the jams and clear it as fast as possible to reach home and be with family. Well, maybe that's not mpan12's preferred kind of life, but that's how I can make it for mine for now. Maybe there's a better way, and there surely is....if only I have $2.6m in my bank account I will retire early and go full on quality life.

Different people got different approach to life ma.
Some must count to the last cent until fingers bleed.
Some say have all the money, so what?

I say...a family photo taken with some background says it all. Kids playing badminton in the garden or having a BBQ is priceless.
Even family bonding is enhanced with kids washing your car and parents tending the garden. It's hot and dirty cutting grass and planting flowers, but it is something you will never get to do in some 5 star condominiums. We maybe not so sophisticated but we have simple way of life. Ever noticed why Malaysian families are a lot closer? This is what we call family quality time. Money is nice to have but it is not everything.

 

[Frodo]

Different people got different approach to life ma.
Some must count to the last cent until fingers bleed.
Some say have all the money, so what?

I say...a family photo taken with some background says it all. Kids playing badminton in the garden or having a BBQ is priceless.
Even family bonding is enhanced with kids washing your car and parents tending the garden. It's hot and dirty cutting grass and planting flowers, but it is something you will never get to do in some 5 star condominiums. We maybe not so sophisticated but we have simple way of life. Ever noticed why Malaysian families are a lot closer? This is what we call family quality time. Money is nice to have but it is not everything.

I can relate to that, sometimes our whole family is out in the car porch, wife tending to her small plot of garden and kids and I cleaning up the cat and dog poop and washing the area, taking out the trash etc. My kids are quite well trained in animal waste management. LOL!

 

[Tekkun]

I can relate to that, sometimes our whole family is out in the car porch, wife tending to her small plot of garden and kids and I cleaning up the cat and dog poop and washing the area, taking out the trash etc. My kids are quite well trained in animal waste management. LOL!

"My kids are quite well trained in animal waste management" is a just simple sentence but there's very deep meaning to it.

What it mean is kids are not pampered and had been trained to set aside the pride to make things work. Many kids nowadays are so pampered that they don't even wash their dishes or clear their tables after they had eaten. Even in KFC or McD restaurants, you can see that. All you need is to return the tray and dump all the bones and leftovers. Once, I asked them why they don't do it, they replied "why should I?" and further answer is "Damn paiseh to do this".

 

[snowbird]

"My kids are quite well trained in animal waste management" is a just simple sentence but there's very deep meaning to it.

What it mean is kids are not pampered and had been trained to set aside the pride to make things work. Many kids nowadays are so pampered that they don't even wash their dishes or clear their tables after they had eaten. Even in KFC or McD restaurants, you can see that. All you need is to return the tray and dump all the bones and leftovers. Once, I asked them why they don't do it, they replied "why should I?" and further answer is "Damn paiseh to do this".

Yah, in MY they still haven't develop the culture of returning the trays and also because there are always many cleaners doing it for them.
In SG,before it was also often people don't bother to return the trays after meals but I think after the "return the tray" campaign, things had improved and now its almost a natural thing to do.

 

[Manhattan]

One more company setting up factory in Johor.

http://www.theedgemarkets.com/my/article/chin-hin-acquires-johor-land-rm22m

 

[Manhattan]

Ikea Johor will be ready by end 2017.

http://www.thestar.com.my/news/nation/2016/09/15/ikea-malaysia-to-open-in-johor/

 

[snowbird]

Ikea Johor will be ready by end 2017.

http://www.thestar.com.my/news/nation/2016/09/15/ikea-malaysia-to-open-in-johor/

Ikea timed the opening with the completion of major condo projects like Country Garden, Princess Cove, etc.
10,000 units means 10,000 potential customers.........smart!

 

[rotikok]

Ikea timed the opening with the completion of major condo projects like Country Garden, Princess Cove, etc.
10,000 units means 10,000 potential customers.........smart!

I also find that many ikea malaysia similar items are cheaper than ikea sg. Some even up to 30% diff after conversion.

 

[cybermad]

I also find that many ikea malaysia similar items are cheaper than ikea sg. Some even up to 30% diff after conversion.

like that what will happen to ikea sg ?

 

[Tekkun]

like that what will happen to ikea sg ?

Customs Singapore have to make sure ...

 

[AHGS14]

I also find that many ikea malaysia similar items are cheaper than ikea sg. Some even up to 30% diff after conversion.

I visited Ikea sg and was interested in a few bathroom basins/counters+mirrors for my house in JB. After looking at the significant price differences for identical items in Ikea msia (the prices are published in their respective websites), I decided to wait and make a trip to buy from Ikea KL instead. Had Ikea JB been operating, I would have bought and have them installed by now.

 

[rotikok]

I visited Ikea sg and was interested in a few bathroom basins/counters+mirrors for my house in JB. After looking at the significant price differences for identical items in Ikea msia (the prices are published in their respective websites), I decided to wait and make a trip to buy from Ikea KL instead. Had Ikea JB been operating, I would have bought and have them installed by now.

Customs Singapore have to make sure ...

I only go to ikea sg despite the price difference, 1st time dint know, didnt unpack it, kena caught by malaysia custom, pay Rm200 duty (bargain from rm400, that time dunno why quite strict, want to treat them kopi kena refuse).

So the question is, if buy from ikea jb, unpack say used to sg custom, how are they going to check?

 

[rotikok]

Why Singapore’s 55% Chinese Tourist Growth Isn’t All Good News

So where does Singapore’s remarkable Chinese tourism growth come from? One part of the equation is the 380,000 Chinese tourists the city-state welcomed by land from Malaysia in the first half of 2016, which represents 131.9 percent growth year-over-year. This brings crossings by land to 26 percent of all Chinese arrivals, and proves a significant trend shift for Chinese tourism to Singapore. If the rate of growth is sustained over a longer period of time, it may reshape Chinese tourism to Singapore as a whole.

The unfortunate truth is that Chinese visitors entering Singapore by land are disproportionately represented by low-cost, no-frills package group travelers arriving by bus for one of their stops along a greater Southeast Asia journey. A majority of land-bound visitors are likely to make a stop for shopping in Malaysia’s Johor Bahru, a city largely known as a conveniently located shopping destination for Singaporeans on a budget, before entering the significantly more expensive Singapore less than an hour’s drive away. Needless to say, Singapore risks losing out on most of these travelers’ shopping expenditures, and they may not have been the right shoppers in the first place.
https://jingdaily.com/singapores-chinese-tourist-growth-isnt-good-news/

So now cheap JB also competing for tourism money from singapore, good news indeed, they do not just rely solely on low end cheap manufacture jobs, there are many areas of economy diversification in years ahead.

 

[AHGS14]

I only go to ikea sg despite the price difference, 1st time dint know, didnt unpack it, kena caught by malaysia custom, pay Rm200 duty (bargain from rm400, that time dunno why quite strict, want to treat them kopi kena refuse).

So the question is, if buy from ikea jb, unpack say used to sg custom, how are they going to check?

I believe Sg is duty free except for GST. If you stay for less than 48 hrs, it's S$150 exemption per person and S$600 for longer stay. That's a lot in Rgt in terms.

 

[Tekkun]

I believe Sg is duty free except for GST. If you stay for less than 48 hrs, it's S$150 exemption per person and S$600 for longer stay. That's a lot in Rgt in terms.

Is that applicable for Malaysia visitors too? I remember bringing cigarettes to Singapore is toublesome through Tuas.
Also we cannot buy duty free items if we are flying to KL from Changi.

 

[AHGS14]

Is that applicable for Malaysia visitors too? I remember bringing cigarettes to Singapore is toublesome through Tuas.
Also we cannot buy duty free items if we are flying to KL from Changi.

Cig is an exception. Unique to S'pore, officially it's not duty free in S'pore, not even for 1 stick, unlike alcohol.

 

[AHGS14]

Cig is an exception. Unique to S'pore, officially it's not duty free in S'pore, not even for 1 stick, unlike alcohol.

I must add that for M'sian, there is no duty free allowance, even for alcohol when entering from M'sia. For all other overseas visitors, only alcohol duty free privilege still applies; cigarette duty free allowance has been abolished for some time now.

 

[snowbird]

I only go to ikea sg despite the price difference, 1st time dint know, didnt unpack it, kena caught by malaysia custom, pay Rm200 duty (bargain from rm400, that time dunno why quite strict, want to treat them kopi kena refuse).

So the question is, if buy from ikea jb, unpack say used to sg custom, how are they going to check?

For furniture items, there is a fixed duty rate for importation in MY.
If left unpacked, all you need is declare with receipts at red lane and pay the duty about 30% of product cost plus 6% GST.
If you don't declare and got "caught" with items, they can demand "anything" from you.

SG customs only bother to look out for cigarettes, liquor, fresh poultry, fresh eggs and of course drugs and human trafficking; regular grocery items, apparel, they don't bother you.
I'd seen a family having their 2 trays of fresh eggs confiscated.
So, how many bulky furniture items you can fit into a car?
The most a coffee table, some stools or a small cabinet and only if remain flat packed.
If your purchase is within the quota of S$150 per person or S$600 if left SG for more than 48hrs, then no duty and GST will be imposed.
Unless you stuffed your car until cannot open the door, normally they also don't bother to check.