Any Singapore Ferrari owners?

For the average Joe, it's always about buying his/her own house and also car. Some would have other priorities too, such as setting up a family, having a business/legacy to pass down to the next generation.....etc.

To make it harder to reach reach the 2 main goals (property and car) in life is a real motivation killer. Govt shouldn't cut off both, maybe just 1? Again, I'm an outsider (Malaysian) and not sure of the current policies that are in place. All I know is that Singapore is smaller than the size of my hometown (Malacca). In my opinion, if govt wants to jack up the price of cars and kill of that portion of my childhood dream, then they should also least compensate and pump the money that they are getting from the traffic control(COE) to making property more affordable, besides shortening the lengthy wait.

We (Malaysians) complain just as much too, about property prices spiralling up in recent years. And I guess it's a phenomena that's striking the whole region, and not just in Malaysia. Malaysian Automotive Association reported an all time high figure 627k for TIV(Total Industry Volume) for year 2012. That's a lot of addition of new cars to Malaysian roads and living in KL for the past 7 years, the traffic conditions in the city centre during peak hours is just ridiculous. Current policies to own a vehicle is just encouraging. For year 2012, Malaysia's NPL rate stood at 2.2%, double that of Singapore (1.1%), with hire purchase vehicle loan as one of the main culprits.

Let's take a look at Thailand. Bangkok was mentioned a few times regarding this (traffic jam) issue in the previous pages. And if we take a look at the TIV for the region, Thailand was light years ahead, at a staggering 81%!!! From 794k in 2011 to 1,436k in 2012!!! O.O
Coming in second and third were Brunei and Indonesia respectively.

Thus, the insane traffic conditions that they are facing. Singapore and Vietnam were the only countries in the region that recorded a negative TIV, Year-On-Year.

 

i do ... mostly ...

 

hilarious ... great find lung ...

 

Yes, many economies are in the toilet because of too much welfare. However, our govt policies is the total reverse which is too extreme. The population issue is a very real problem. At least $800 per month for child care, how is the average Sporean going to afford that. many already park their kids with a nanny and only see them once a week. All this is very unhealthy way of bringing up a kid. I see this in my company. Fortunately for Spore, we have plenty of reserves. God knows what is going on there. However, if at least they manage it well and have a 5% return, this money can be earmark to provide some assistance to Singaporeans. I am not advocating spending all we have, just some and only a part of our returns on our investments. I expect this info to be public and this is not. It's our money. I better stop because i get very work up everytime we get into issues like this. I worry what will happen to Singapore and where the politics is taking us.

 

in most 1st world countries, cars are no longer considered a luxury ... but a necessity ...

this govt. clearly feels otherwise ...

 

the have-nots will no longer have to see what the have's have ... or had ...

 

more like rape bro ...

 

MP, they started this COE thing and in came the money. It's the no 2 revenue for the govt. It's a drug for them. How to stop. Always using Bangkok example to scare the **** out of us. I have never been to a major city with no traffic jam. That is just wishful thinking. If our traffic situation is like HK, i would not complain. HK is a lot smaller in the city area, taxes are not so high and public transport is excellent. Now with 80% more ARF. this drug is giving a better high.

 

The govt desires to increase the skill labor force so everyone "upgrades" themselves to white collar jobs. Yet the govt are cutting foreign worker quotas for blue collar jobs like in the food and beverage industry. With this conflicting policy who will take those F&B jobs?

The govt wishes to fight inflation. My annual foreign worker levy has gone up 3x in 2012. Operators tried to pass on this cost to the consumers.

Hence all these policies make the situation even worse.

My original point was the free market economy was working fine and this knee jerk tinkering by the govt has really muck things up even further.

A good govt is a strong govt that rules base on what is best for the country and not solely for the noise that one group makes. This xenophobia against foreign workers is unwarranted. They are doing the work that Singaporeans don't wish to do. No different from migrant fruit pickers in the USA.

 

Agree 100% and a gang bang as well. The question is when do we stop taking this from them?

 

Its hurting my biz as well. Used to own Sizzler in Spore and closed it cause i see this big labor problem coming with the workers party winning the GRC. Govt talks about productivity. i don't know how to achieve that in my retail business. I need a certain no of staff in each store. How to cut? Retail is seen by Singaporeans as a low end job. The govt does not know how to communicate. That is the biggest problem. With all this issues like housing and public transport, the govt than debates on bringing in more immigrants. How stupid can they be. solve the problem first and quickly. I am opening a couple more stores in Singapore. I think i have to stop my expansion and focus on my overseas biz. It's getting too hard here.

 

i see singapore falling clean off the charts of "places to migrate to" ...

 

from what i'm reading, there's no way to stop them. so it's a hobson's choice ... accept it square on the chin, or man up and leave ...

very unfortunate ...

 

Directing this to Jon..

Between Singapore and Malaysia, would uou still pick Singapore?

 

Well said! Whats a free economy btw... :/

 

Even a Billionaire cancel his order of F12 due to the recent change.
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Just as a point of clarification. You say that the biggest problem is that the government does not know how to communicate. That is preceded by your statement that retail is seen by Singaporeans as a low end job. Is it your thinking that the government has to persuade Singaporeans to see retail (or for that matter F&B and equivalent) jobs as proper jobs and not just low end jobs? Or what is it that the government needs to communicate to the people? Please correct me if i understood you wrongly.

 

Very interesting figures Jack. Good post!

Cars or personal transport is a necessity in many countries especially 3rd world. Singapore is small with high density so getting around is relatively easy but the public transport network is falling way behind. They built stations only to close them citing loss. That's understandable but the network! Most "townships" should've been connected by 2010 with good frequencies.

I read the front page news with shock. They are taxing the construction labour heavily. So what are developers going to do? Contracts will be delayed, cost will go up. Developments will be stalled. I'm a layman in this industry so what is the govt trying to show here?

I'm a small timer hiring FWs too & this is now sealing our fate here. We have so many business opportunities but are giving Singapore a miss due to employment+rental issues. The locals are NOT taking up service sector. Period. No education or communication can solve this. 12hrs job, 6 days week greeting & serving people are not attractive to locals even if you pay them $2500/month. You cannot automate the service/retail sector which Singapore is known for since tourism is a major income for the country. You need a human touch for God's sake.

The foreigners are filling up the lower end jobs that locals shun, they know it, reported it yet they still went ahead to slap us with higher levies & ratio. At this rate, I'll make Singapore my office only & shift HQ+operations elsewhere which several of my business friends have done!

Malaysia for the moment. The new 90mins rail is good news to me though by 2020, I'm probably looking @ somewere else

Been shuttling there for the past 4years. Property prices in KL though peaked is still cheap compared to major cities but it's definitely out of reach for the masses just like Singapore but they have a lot of old money which helps. A lot of red tapes in the country but if you know how, money can be found & business can flourish.

 

I think this news will make our citizens cry.

Import duties on cars from Japan to be reduced to 0% by 2016 (Update)

Their minister said. "the reduction in car prices was due to measures taken by the government to make the industry more efficient and competitive, citing the implementation of the Asean Free Trade Agreement.

Further reduction in prices will be realized with the liberalization of the automotive industry through other FTAs implementations which will come into force in 2016,” he said.

Our ministers on the other hand just raised the bar with 180%

 

Ferrari named world's most powerful brand, Motoring News, Singapore Cars, Guides & Articles - STCars

 

If your language & thoughts represent the government then I feel utter sorrow for fellow citizens.

Whither Singapore, for the blind leads the blind

 

To be honest, I'm alright with it but speaking from a personal level since I cannot afford them new Luxury hi-end cars are meant for the wealthy & exotics are becoming such a common item these days. It'll cost more for the towkay & that few hundred ks won't dent their account but of course the same money can have a few live mistresses So, life is a little less happy, a bit shock now but they'll get over it.

It'll hurt businesses but only the top tier companies & I'm sure you guys know how much $ those dealers make per car. 6 figures is the norm.

What i don't undertsand is why did they set the OMV so low? S$20K is a joke, most Asian brands cost more than that & these are the vehicles that are needs, not wants. IMHO, it should start from S$50K.

 

Bro, billionaire is 亿万富翁, 百万 is two zeros lesser ok. So he is a millionaire.

Well, techincally, 亿 is 8 zeros behind (hundred million) while billion is 9 zeros but in Mandarin billionaire is known as 亿万富豪 aka limited editions

 

Arent u afraid of robberies? Which state is the safest in m'sia?

 

My sentiments exactly Jon...
A few 0's aint got no damage to them because they can easily earn back the money in a short time..
About that 20k omv...i find that redonkeyulous as well... are they trying to push us to buy protons and china made cars? Seems like the case aye...