Proof that the PAP is doing a fantastic job!

[Leongsam]

<table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td valign="top">Luxury car sales zoom to new highs

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</td> </tr> <tr valign="top"> <td>Porsche cars seen here in a showroom at Sungei Kadut. The marque was the third best seller among luxury cars with 448 registered - a 48% increase from 2009. -- ST PHOTO: TED CHEN </td> </tr> </tbody></table> [FONT=arial, helvetica, sans-serif]The Straits Times, January 28, 2011[/FONT]
[FONT=arial, helvetica, sans-serif]LUXURY and sports car sales have hit new highs, powered by a strong economy, new models and a shrinking certificate of entitlement (COE) supply that has priced out cheaper competitors.[/FONT]
[FONT=arial, helvetica, sans-serif]Practically all high-end cars posted record sales last year as they outgunned bread-and-butter brands for COEs as premiums soared on the back of one of the smallest quotas ever.[/FONT]
[FONT=arial, helvetica, sans-serif]Hence, while overall car sales plunged to about 42,000 - less than half the annual average of the preceding five years - the rarefied brands thrived.[/FONT]
[FONT=arial, helvetica, sans-serif]Veteran motoring writer Winston Lee said: 'High COE prices form a smaller percentage of the total price of a premium car, so buyers of such cars still perceive them to be reasonably well worth purchasing. [/FONT]
[FONT=arial, helvetica, sans-serif]'Also, such buyers are better able to stomach high COE prices than�others in the market.'[/FONT]
[FONT=arial, helvetica, sans-serif]Temasek Polytechnic lecturer Dennis Toh, who specialises in consumer behaviour, noted that the number of millionaires in Singapore increased by one-third last year. He also pointed to the fact that the stock market was quite bullish, 'resulting in more earnings among the well-heeled'.[/FONT]
[FONT=arial, helvetica, sans-serif]The biggest winner among luxury brands was Rolls-Royce, which sold 37 cars - more than three times its 2009 sales - at well over $1 million apiece. Its dramatic growth was largely on the back of the new Ghost, a less extravagant model priced at around $1.05 million - far lower than the $1.45 million Phantom. [/FONT]
[FONT=arial, helvetica, sans-serif]Next was Ferrari, whose sales more than doubled to 69 units. Again, this was on the back of new models, the California convertible, priced around $800,000, and the F458 at about $950,000. [/FONT]
[FONT=arial, helvetica, sans-serif]The other big gains were posted by makes such as Land Rover, Porsche, Aston Martin, Audi and BMW.[/FONT]
[FONT=arial, helvetica, sans-serif]And while makes like Mercedes-Benz, Jaguar and Lamborghini did not scale record heights last year, they garnered strong growth over the previous year.[/FONT]
[FONT=arial, helvetica, sans-serif]Mercedes' best year ever was 1995, when it put 4,953 new cars on the road to emerge as Singapore's best-selling brand, a feat it repeated in 1996.[/FONT]
[FONT=arial, helvetica, sans-serif]While high-end brands dominated the record-sales list, there were a few European brands which performed equally well. They were Volkswagen, Citroen and Mini, which set new records last year.[/FONT]
[FONT=arial, helvetica, sans-serif]These high-end gains were however at the expense of budget and mass-market brands such as the Japanese, Korean, Chinese and Malaysian makes, all of which suffered a sizeable drop in sales. [/FONT]
[FONT=arial, helvetica, sans-serif]Honda, for instance, incurred a 66 per cent shrinkage in sales, while Toyota took a 61 per cent beating. [/FONT]
[FONT=arial, helvetica, sans-serif]Industry watchers said it is possible for either Mercedes-Benz or BMW to emerge as Singapore's best-selling brand in the next few years. Toyota has been No. 1 for nine years in a row now. [/FONT]
[FONT=arial, helvetica, sans-serif]Motor companies representing the hot high-end makes are mixed in their outlook for this year. [/FONT]
[FONT=arial, helvetica, sans-serif]Mr Karsono Kwee, executive chairman of the Eurokars Group, whose brands include Rolls-Royce, Porsche and Mini, said the recent measures to cool the property market could mean fewer people making fast cash. [/FONT]
[FONT=arial, helvetica, sans-serif]'I don't think this year will be better than last year,' he said. 'I'll be happy with about the same number of sales.'[/FONT]
[FONT=arial, helvetica, sans-serif]Having said that, he added that Porsche has a healthy order bank, especially for the new Cayenne sport utility vehicle. [/FONT]
[FONT=arial, helvetica, sans-serif]Over at Ferrari agent Ital Auto, a spokesman described 2010 sales - its first full year since taking over the Prancing Horse marque from Hong Seh Motors - as 'encouraging'. [/FONT]
[FONT=arial, helvetica, sans-serif]'There is definitely room to grow,' he said. 'We expect a 10 to 15 per cent year-on-year increase in deliveries over the next few years.'[/FONT]
[FONT=arial, helvetica, sans-serif]Even as plans are laid by the incumbents, a newcomer is expected to make its foray into the supercar segment soon. [/FONT]
[FONT=arial, helvetica, sans-serif]British-based McLaren said it is 'on the verge' of appointing an agent here. [/FONT]
[FONT=arial, helvetica, sans-serif]Group chairman Ron Dennis told the press this week that he is eyeing 4 per cent of the superlative market. The company, better known for its successful Formula One endeavours, has taken the wraps off its first all-independent road car, the MP4-12C. It will be priced in the same range as the Ferrari F458.[/FONT]
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[patrickv]

他妈的!! 你真是个超级马屁精:oIo:

没出息:oIo:

 

[NoelVermillion]

Singapore is one of the most wonderful place and a paradise, if you are rich.

 

[Maximilian Chua-Heng]

Nah forummers here will not buy your argument! The chances of them getting knocked down by one of these luxury cars and be dragged along like deadwood are much higher than them actually owning one.

 

[Leongsam]

他妈的!! 你真是个超级马屁精:oIo: 没出息:oIo:

I'm no sycophant. I just happen to be able to recognise true talent when I see it.

 

[Liquigas]

One of my friends is convinced that the PAP government is working hard not only for our welfare but also doing a fantastic job for our glory. He told me that he is proud carrying the red passport each time he travels and added that travellers of other nationalities esp small and poor countries often encounter problems at the immigration counters but never for one holding the S'pore passport. This may be a small issue but it does tell you how people of other countries see us.

 

[Leongsam]

Singapore is one of the most wonderful place and a paradise, if you are rich.

Singapore also provides ample opportunities for you to become extremely wealthy. The boom in luxury purchases proves this beyond doubt.

If you can't make money in Singapore, chances are you can't make it anywhere.

 

[Leongsam]

>> ASIAONE / BUSINESS / NEWS / STORY

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</td> </tr> <tr> <td colspan="2" valign="top" width="550"> Millionaires here among the world's youngest </td> </tr> <tr></tr> <tr> <td colspan="2" align="left" valign="top" width="550"> <table> <tbody><tr> <td> <table> <tbody><tr><td>

</td> </tr> <tr> <td class="content_subtitle" align="left"> Tue, Jan 25, 2011
my paper </td> </tr> </tbody></table> </td> <td align="right" width="400"> <table border="0" cellpadding="0" cellspacing="0"> <tbody><tr> <td align="right" valign="top"> </td> <td height="15">

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</td></tr> </tbody></table> </td> </tr> <tr><td colspan="3" class="bodytext_10pt"> By: Reico Wong
NOT only has Singapore been minting more millionaires per capita than any other country, but the millionaires here are also among the world's youngest. They form a lucrative market that banks are eager to court.
HSBC Private Bank - which targets rich individuals who each have assets under management (AUM) of US$3 million (S$3.8 million) on average - said yesterday that, in line with industry-wide statistics, the average age of its client base here is 48 years.
<table align="right" border="0" cellpadding="2" cellspacing="2" width="300"><tbody><tr><td> <noscript> </noscript> </td></tr></tbody></table>Citing statistics published in a recent wealth report by Datamonitor, HSBC's chief executive for global private banking, Mr Chris Meares, said that this could be compared with the millionaire profiles in China, where the average age of millionaires with new wealth is under 40 years.
In Europe, meanwhile, the average age of the private bank's clients is about 55, he said. Mr Meares said the bank will play to its strengths to further increase its AUM here.
The bank's AUM in Asia already contributes a hefty 30 per cent to its private-banking business worldwide which, at last count, totalled about US$450 billion.
HSBC Private Bank's profit in Singapore for 2009 came in at US$98 million - a strong 18 per cent contribution to the group's profit in Singapore.
"Singapore is appealing as a wealth-management centre, with mainland Chinese and those of other Asian nationalities visiting and residing here, as well as many wealthy Europeans who want to invest in Asia and have their money managed in Asia," he said.
Mr Meares said HSBC is well-placed to deliver acrossthe- board solutions not only to help its corporate clients in Asia expand to other parts of the world, but also to look after their private-banking needs.
He added that, with a global reach, the bank can provide a wide range of wealth-management solutions other than the traditional products.
For instance, the bank now helps its clients with real-estate investment clubs, which bring together people to invest collectively in real estate, particularly in the United States and Britain.
The bank has closed three such deals in the last 18 months - two of which were for commercial properties, with equity investment of about US$100 million each.
Mr Meares said the global connectivity means a lot to people now, especially in South-east Asia.
"We're well-placed to have an advantage, as long as we maximise the opportunities."

For more my paper stories click here.
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[Dreamer1]

There is absolutley no doubt that MM LKY & his PAP are doing a fantastic job in attracting rich FTs into Singapore,althogh still lag behind Monacco slightly!

 

[Leongsam]

If you can't make it in Singapore, you're a REAL LOSER!

 

[Balllessme]

Sammy... which is correct?

Please advise.....

or

Please advice.....

 

[NoelVermillion]

Singapore also provides ample opportunities for you to become extremely wealthy. The boom in luxury purchases proves this beyond doubt.

If you can't make money in Singapore, chances are you can't make it anywhere.

It is only feasible if you do not get replaced by cheaper FTs and have rich parents supporting you. Add on that you do not plan to move out of your parents' home.

 

[singveld]

that pap dogs have a good year.

 

[no_faith]

If you can't make it in Singapore, you're a REAL LOSER!

tatz is y u leave sg? u r more than a loser.

 

[Windsor]

Maybe your friend has never come across Singaporeans who behave as though they own the country. I have seen many Singapore cars in Malaysia throwing out their rubbish out of their car windows. I sometimes rather stay away and pretend to look elsewhere when I see Singaporeans overseas for they many are badly behaved. So your friend with the red passport can be proud because he has no idea what the foreigners really think about Singaporeans. Apparently the government forgot to inculcate good manners and graciousness when making Singapore such a wonderful place. I have views from foreigners about Singaporeans and my ears practically burn with embarrassment.

One of my friends is convinced that the PAP government is working hard not only for our welfare but also doing a fantastic job for our glory. He told me that he is proud carrying the red passport each time he travels and added that travellers of other nationalities esp small and poor countries often encounter problems at the immigration counters but never for one holding the S'pore passport. This may be a small issue but it does tell you how people of other countries see us.

 

[Watchman]

Maybe your friend has never come across Singaporeans who behave as though they own the country. I have seen many Singapore cars in Malaysia throwing out their rubbish out of their car windows. I sometimes rather stay away and pretend to look elsewhere when I see Singaporeans overseas for they many are badly behaved. So your friend with the red passport can be proud because he has no idea what the foreigners really think about Singaporeans. Apparently the government forgot to inculcate good manners and graciousness when making Singapore such a wonderful place. I have views from foreigners about Singaporeans and my ears practically burn with embarrassment.

Why lambaste those wrong doers . Those who cross over without serious reason to be there are penny pincher .

 

[Don Muthuswamy]

If you can't make it in Singapore, you're a REAL LOSER!

So r u 1 of them so u had 2 run off 2 NZ?

 

[po2wq]

tatz is y u leave sg? u r more than a loser.

So r u 1 of them so u had 2 run off 2 NZ?

u dun nid 2 ask a cartoonist 2 draw intestines on ze ang kong kias ...

 

[NoelVermillion]

Maybe your friend has never come across Singaporeans who behave as though they own the country. I have seen many Singapore cars in Malaysia throwing out their rubbish out of their car windows. I sometimes rather stay away and pretend to look elsewhere when I see Singaporeans overseas for they many are badly behaved. So your friend with the red passport can be proud because he has no idea what the foreigners really think about Singaporeans. Apparently the government forgot to inculcate good manners and graciousness when making Singapore such a wonderful place. I have views from foreigners about Singaporeans and my ears practically burn with embarrassment.

Agree with you, I have seen too many "Ugly Singaporeans" overseas. It is embarrasing to carry the same passport as them.

 

[Meltdown]

I cannot agree with you more.

Singapore is definitely on a trend of becoming another Monaco. The 2 casinos and the annual F-1 race are good indications of the trend. Also the number of Ferraris, Lambos, and chauffeur driven luxury cars on the road is another good indication.

I can envision that sometime in the future, most of our residents will be multimillionaires like in Monaco. Those who aren't will be the servants (like maids, butlers, chefs, chauffeurs, etc.) employed by the multimillionaires, or employees working in service industries serving the elites. Those who are middle income professionals will have their homes in JB but work here during the day as they will not be able to afford the Monaco Standard of Living. The elites still need the professional services of accountants, real estate agents, lawyers, doctors, dentists, etc..

The world is in desperate need of another country like Monaco and Singapore has been gradually and surely filling that need in the global marketplace.

Keep up the fantastic job PAP!