Iskandar Malaysia's progress so far

[PuteriWorld]

EPF in Malaysia gave almost double returns than CPF interest rate. EPF leaders are paid probably 10% of the salaries of our learned CPF leaders in charge.

Sometimes I do hope to ask the Malaysia govt if I can set up an EPF account in Malaysia as a foreigner.

I question your financial acumen when you support the CPF as is. The CPF is invested by our sovereign funds. They get returns, purportedly, in the region of 7 percent and in turn pays 3 percent to CPF. Your CPF is losing in real terms. And you call that a good deal?

If the government were to let you manage your own money be investing in ETFs, you will way ahead. For example, if you invest $10k annually over the last 30 years in the SPY, your savings would have grown to $1.3 million over the period.

So, how is the CPF a good deal for sinkees?

 

[PuteriWorld]

I have to pay S$6+$6 = RM 30 to wash my car in Singapore and still, its not clean!
RM 12 I pay to wash my car in JB. Super swee and shiny rims and tyres.

Bro, did you factor in a Japanese 1.4litres car here can cost S$140,000? (Those who drive please correct me if I'm wrong.) And a 85 square metres PUBLIC apartment (we call it HDB flat) can cost S$550,000 in the resale market? Factor in also the general cost of living. In Malaysia, you have real fruit juice at RM3-4? Over here, fruit juice is water added, sometimes with syrup, and half the glass is filled with ice. It will cost you S$2 or RM5.10. And children's education here not cheap. You want atas private centres for your kids, 1 month it costs more than S$1,000. The list goes on....

So S$10k a month salary is nothing to shout about. In fact, based on today's context and cost of living in SG, I feel that those who earn $10k a month belong to the upper section of the LOWER income group. They are not even quite in the middle income bracket yet.

Hope I am not scaring you the cost of living in SG.

Yes...as mentioned by some, grass is always greener on the other side. But for those who like the life overseas, they will have migrated by now. I know many ex-Singaporeans who have no regrets giving up their citizenship and live a much better life elsewhere. It works for some, but may not be suitable for others.

 

[PuteriWorld]

I hope so but after consultation with my personal bankers, its quite true that their boss ( Branch Director ) is paid below S$10k a month. Work till almost died and burnt weekends.. I pity him

Maybe his base pay is 9.8k but performance bonus & incentives is equal to his entire year base salary or more?
People usually tends to hide their last card. Only selected few plays Texas Poker. Likes to call bluffs.

 

[PuteriWorld]

My legal counsel in Singapore ( 40+ lady with Spore PR ) claims she is earning just S$6000-$8000/month. Those who earn S$20k and above are the far and few. Subhas and Davinder Singh are one of the few.

My legal counsel 's newbie in Malaysia, fresh grad and a pretty girl claims her salary is about RM 3000. In Singapore starting pay is about S$3500-$4000 in one of the top legal firms ( Harry / D&N )

For lawyers, from what I know recently, the government is opening doors to more law grads overseas. This made the local law students unhappy. Suppose they earn $5k a month last time as a junior lawyer, this time I was told they have no choice but to accept $3k+ only.

Anyone who knows of law students from local uni who recently graduated can verify this with them.

Everything must run like a business here! Make profits! Lower cost.... Boost the economy! But in the end, I dunno who gets most of the money....

 

[FHBH12]

EPF in Malaysia gave almost double returns than CPF interest rate. EPF leaders are paid probably 10% of the salaries of our learned CPF leaders in charge.

Sometimes I do hope to ask the Malaysia govt if I can set up an EPF account in Malaysia as a foreigner.

That is how Malaysia ends up with so much debt n deficit. To sustain high returns, higher risk is necessary, which can translate to higher losses. The next few years will be painful for man in e street in Malaysia as e government cuts back on subsidies n raise taxes. RM itself is depreciating. Inflation is e rule in Malaysia now (most of us have already felt it this year) and will be worse when GST kicks in.

 

[FHBH12]

My legal counsel in Singapore ( 40+ lady with Spore PR ) claims she is earning just S$6000-$8000/month. Those who earn S$20k and above are the far and few. Subhas and Davinder Singh are one of the few.

My legal counsel 's newbie in Malaysia, fresh grad and a pretty girl claims her salary is about RM 3000. In Singapore starting pay is about S$3500-$4000 in one of the top legal firms ( Harry / D&N )

This is e reason y I'm quite confident of e future of Iskandar, as more Malaysians move to JB to look for work in SG. RTS is e key in mass transport between JB and SG. So to me, RTS is e game changer.

 

[sgcount]

I have to pay S$6+$6 = RM 30 to wash my car in Singapore and still, its not clean!
RM 12 I pay to wash my car in JB. Super swee and shiny rims and tyres.

Yah sucks. I don't drive but I understand how it feels when one pays so much for service or goods but the result is disappointing. Nowadays, I eat a bowl of wanton mee it can cost S$4-5 (RM12!!!). It has that typical taste that comes from chilli and vinegar or supermarket soy sauce. There's no special taste in it. No choice.... rental high, the hawkers with little cooking skills need to earn a living also have to charge high.

In Msia, we can pay only RM4-5 and get mouth-watering foods.

Sometimes I also wonder why we pay 10% service charge in Singapore eateries when some of the waiters/waitresses show black face (I understand cos the place is usually short-handed, not the waiters' fault) and serve our food only once or twice. We have to even walk to the counter to pay the bill ourselves. If I can just collect my food from the kitchen itself to save the 10%, I will!

In US or Canada where I've lived for a short time, you pay 15-20% tips to the waiters and waitresses. It's slightly more than the 10% here but you get top service and a pleasurable dining experience. I'm not sure if the 10% service charge we pay here goes to the waiter or the eatery.

 

[sgcount]

My legal counsel in Singapore ( 40+ lady with Spore PR ) claims she is earning just S$6000-$8000/month. Those who earn S$20k and above are the far and few. Subhas and Davinder Singh are one of the few.

My legal counsel 's newbie in Malaysia, fresh grad and a pretty girl claims her salary is about RM 3000. In Singapore starting pay is about S$3500-$4000 in one of the top legal firms ( Harry / D&N )

Maybe she is a PR that's why. They undercut her. I also heard in Singapore, they are now using doctors from India, Philippines and Myanmar and pay them a lot less than local doctors. Some years back, I was wondering why NUS limited the number of medical students intake when it is clear from our public hospitals (back then and even now) doctors are short-handed. Then now I see the big plan -- The government and public hospitals are trying to cut costs by employing foreign doctors but pay them less.

If you talk to the local SG lawyers in their late 30's working in the bigger law firms, I believe their salaries should easily be $15k/20k or more. For senior partners, wow, that one don't say. The last I heard, some can earn as high as $800/hour! By now, I won't be surprised the top ones earn beyond $1,000 an hour. When they make court appearances, it's another separate earnings also.

Wow... Can I make friends with your legal counsel's newbie lawyer? I can take care of her. :P

 

[DCputeri]

My condo was just rented out to a lawyer from Australia recently. I have also several viewings from professionals like lawyer from UK, Doctor from UK, Banker, Accountant from UK, etc. Singapore is certainly opening the door and competition will be rather stiff for our local professionals. I suppose this group of Foreign Talents will be having salary beyond 12k excluding housing allowance given the new ruling on Employment Pass requirement. Singpoare is just a base for them as I understand that this Aussie lawyer will spend only 50% of his time in Singapore.

Maybe she is a PR that's why. They undercut her. I also heard in Singapore, they are now using doctors from India, Philippines and Myanmar and pay them a lot less than local doctors. Some years back, I was wondering why NUS limited the number of medical students intake when it is clear from our public hospitals (back then and even now) doctors are short-handed. Then now I see the big plan -- The government and public hospitals are trying to cut costs by employing foreign doctors but pay them less.

If you talk to the local SG lawyers in their late 30's working in the bigger law firms, I believe their salaries should easily be $15k/20k or more. For senior partners, wow, that one don't say. The last I heard, some can earn as high as $800/hour! By now, I won't be surprised the top ones earn beyond $1,000 an hour. When they make court appearances, it's another separate earnings also.

Wow... Can I make friends with your legal counsel's newbie lawyer? I can take care of her. :P

 

[sgcount]

My condo was just rented out to a lawyer from Australia recently. I have also several viewings from professionals like lawyer from UK, Doctor from UK, Banker, Accountant from UK, etc. Singapore is certainly opening the door and competition will be rather stiff for our local professionals. I suppose this group of Foreign Talents will be having salary beyond 12k excluding housing allowance given the new ruling on Employment Pass requirement. Singpoare is just a base for them as I understand that this Aussie lawyer will spend only 50% of his time in Singapore.

Yes.... Haiz... Singapore opens its doors so easily to professionals from foreign countries but for us to migrate to other countries it's so darn difficult. I feel Singapore has become more of a place to do business than a country where I feel I belong to. Unlikely I would like to retire here.

 

[nusajaya2020]

Singapore is already what you described, and a good place for foreigners to earn 2-5 times what they would earn back in their home country. And a stepping stone to working in the US/Australia.

An alternative to getting permanent residency and retiring overseas, is to travel overseas extensively when you're retired. Long stays with relatives/friends, cruises, package tours, free and easy travel in ASEAN/North Asia. Strong SGD can go a long way when spent overseas in less developed countries.

Yes.... Haiz... Singapore opens its doors so easily to professionals from foreign countries but for us to migrate to other countries it's so darn difficult. I feel Singapore has become more of a place to do business than a country where I feel I belong to. Unlikely I would like to retire here.