Some foreigners had a hard time in Singapore

Mr. H was in his fifties. He sold his house in Germany and migrated to Singapore under the investor scheme. He was given a 5 year residence, subject to renewal.

He bought a property and started a business. The business was not successful.

On expiry, the residency was not renewed. He had to leave Singapore.

He tried to sell his residential property, but the market is bad. He had to suffer a capital loss. He rented out the property and obtained a miserable return.

He invested in the Hyflux preference shares. He thought that it was safe, as it was approved for sale to retail investors and could be bought from the bank’s ATM machine. His investment in the preferential shares is almost gone.

He still holds some bonds from StarHub. He asked me if this bond is as risky as Hyflux. I told him that I would study the financials and give him my views.

Shhh, I did not tell him that I would consulting my crystal ball.

Mr. H is one of the foreigners who did not do well by migrating to Singapore. He would have been better off if he had migrated to some other country.

In spite of this unhappy situation, Mr. H is still quite positive towards Singapore. He did not harbor any bitterness.

I like to share this sad story with my sinkie friends. We should not be xenophobia towards foreigners. Some of them also had a bad time.

I met Mr. H when he consulted me about the Hyflux preference shares. We became good friends.

 

Tan Kin Lian

 

 

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10 Responses to “Some foreigners had a hard time in Singapore”

  • trublu:

    One out of millions?

    You are talking about the odd case.

    Tkl,have some sense of proportion.

    You shud speak out for VOICELESS SGS.
    How come you not standing this GE?

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  • Angry with gov:

    Mr Tan, your Ang Moh friend should be angry with gov over Hyflux.

    In Jun 2017, EDB, a gov department, published a very glowing report about Hyflux and its CEO. On many other occasions, Hyflux was featured with various ministers and gov officials.
    https://www.edb.gov.sg/en/news-and-events/insights/innovation/innovation-to-keep-asia-s-water-flowing.html

    Less than a year later, May 2018, Hyflux reported deep financial shit.
    https://www.businesstimes.com.sg/companies-markets/hyflux-suspends-trading-of-shares-and-perps

    People like to say investors should be aware of what they are investing. But, in Singapore, with the gov giving very strong endorsement of Hyflux, the old folks, even investment savvy people, rushed in to buy Hyflux shares and preferential shares.

    One important lesson to learn:
    Singaporeans, please don’t trust this government so much.
    Take the Hyflux case, the gov is either careless in anyhow endorsing Hyflux, or something worse.

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  • Tracey Ching:

    The German deserved it. Because he lacks strong intellectual skills. If he had any brains, he should have done his research on Singapore and Singapore’s system. He should know that Singapore is not a genuine democracy.

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  • Steven:

    TKL is mistaken if he thought the Singaporeans are xenophobic.

    What we are unhappy about is the number of PMET jobs lost to foreigners.

    I believe that the value-add from foreigners in the PMET category can come only from those who potentially command salaries above $8000.
    Those earning lower are what I crudely term “mass” PMET employment that can be fulfilled by Singaporeans

    If our government were to increase the salary threshold to $8000 for EPs, the PMET jobs will invariably go back to Singaporeans.

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  • Flabbergasted:

    PAP brand us xenophobic when we are protecting our own turf.

    Vote the bastards out.

    Kick out Ceca.

    Kick out all the half baked foreign trash.

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  • Harder Truths:

    This FT friend of yours screwed $G citizens. Then he was not good enough when some other FT (presumably from Asia) screwed him over in his turn. He took the risk he paid the price. What goes around comes around. Too many locals don’t even have the chance to work let alone start a business or invest in shares.

    It seems you have a soft spot for FT. Now you are preaching on their behalf.
    Hopefully this guy can adopt you and take you away to Germany so we can have some peace.

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  • Not Anti FT:

    We should never be Anti FT..We should welcome those FT that are making a positive contribution to Singapore with open arm.
    Some FT has contributed and has also suffer like us because of the economy especially the entrepreneur..Be kind to them.

    What we are against is when FT are doing the jobs that local PMETs can easily do.We do not want our PMETs to be unemployed or underemployed just because of too many FTs here.We want our young highly educated to also have decent jobs.
    It is not right for the Government and our Employers to allow the present situation to go on.Just too many FW/FTs here …not really talented one.

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  • conveniently use the word:

    //We should not be xenophobia towards foreigners. Some of them also had a bad time.//

    aiyoh. who does not welcome foreign investors ? i think daft sinkies are concerned by too many average FTs competing away jobs from daft sinkies ? open-leg policy by the white idiots has open the floodgate to FTs from low wage hard labours to mid level of PMETs to very senior staff; and white idiots still want to justify their white monkey position ???

    why use the negative word such as xenophobia ? do not forget, sinkie land all along has been very open even since the 80s or 90s ?? being open to top notch people for transfer of knowledge, technology and skill is good and thereafter citizens take over ???

    but open-leg policy (6.9m or 10m) is way too much and overdone when it becomes a case where jobs of daft sinkies are competed away (hence losing opportunities to learn and build up skillset and job competency); and the white monkey idiots and gang now conveniently use the word xenophobia on those who start to react back strongly.

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  • RSHK:

    Mr TKL,

    Mr H consulted you about Hyflux preference shares ? Did you encouraged or discouraged him to invest ?

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  • TUMASIK Patriot:

    Tan Ahhhhh!!!…I had 2 friends… no!!! 3 friends from China Jet Li- Gong Li and Jack Chan…Rich & Famous! invest or married to receive the Red Book similar to Moa’s

    The Difference I know them but they do not KNOW me…

    Moral of this POST???…a High Class Prostitute will receive any type of Client for a Price the better the price BETTER SERVICE Provided

    Tan Ahhh!!! your friend service is poor and you should KNOW why…he should go to Batam… better value with what he HAD!!!

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