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Singapore Government may dip into reserves

hey!! if S$ is gonna be zero value...i think NewZealand (NZ$) shall beat us to it first !! look at the current exchange rate and interest value..wow..getting lower and cheap Vs S$ value!! :D

knightbridge      ( Date: 19-Jan-2009 14:10) Posted: Delisting and merger is going to kick in 2009. By mergering with competitors, cutting wages and headcount. Will create new companies that is bigger and stronger to ride out the crisis.. Big boys will start big purchases as Stocks are trading at deep discount to NTA.. Unless all types of Fixed Asset start to drop 50% - 60% in the next 2 months, if not stock are definite a bargain if they got enough bullet to ride out of the crisis.. In the company book NTA of $2, stock selling at 0.60 cents.. Unless they are going bankrupt due to cashflow crunch, if not it is a good value.. Unless commerical building that is worth 800million going to be worth 400mil in a month time and cars 100k going for 40k, all the residental property that is selling at 1m becoming 400k. HDB flat at 600k becoming 300k in 2 month time.. (If it do happen, Good luck to Singapore Dollars in the International Market, see what it is worth then in the open market) How do companies recover strongly after recession, it is because all the fire sales asset they buy at low start to generate money when the economies start to move. SINGAPORE WILL NOT SINK, UNLESS U BELIEVE WE WILL BE ANOTHER ICELAND... If thats the case, u better SELL your property and start renting. And keep all the cash in FOREIGN Currency.. Your CPF Money willl be 0 value if it do happen..

 

Delisting and merger is going to kick in 2009. By mergering with competitors, cutting wages and headcount. Will create new companies that is bigger and stronger to ride out the crisis.. Big boys will start big purchases as Stocks are trading at deep discount to NTA..

Unless all types of Fixed Asset start to drop 50% - 60% in the next 2 months, if not stock are definite a bargain if they got enough bullet to ride out of the crisis.. In the company book NTA of $2, stock selling at 0.60 cents..

Unless they are going bankrupt due to cashflow crunch, if not it is a good value.. Unless commerical building that is worth 800million going to be worth 400mil in a month time and cars 100k going for 40k, all the residental property that is selling at 1m becoming 400k. HDB flat at 600k becoming 300k in 2 month time.. (If it do happen, Good luck to Singapore Dollars in the International Market, see what it is worth then in the open market)

How do companies recover strongly after recession, it is because all the fire sales asset they buy at low start to generate money when the economies start to move. SINGAPORE WILL NOT SINK, UNLESS U BELIEVE WE WILL BE ANOTHER ICELAND...

If thats the case, u better SELL your property and start renting. And keep all the cash in FOREIGN Currency.. Your CPF Money willl be 0 value if it do happen..

 

relax lah!! when it is v. bad and even garment also said it...i think it is the BOTTOM !!! :D

just do the reverse of the herd mentality....cant be wrong too far off ! :D

tanglinboy      ( Date: 18-Jan-2009 18:53) Posted: Now I am really scared !! its officially very bad!

 

<Try not to tighten your purse string too tight. It will only worsen the crisis.>

Nah! On the contrary, you should tighten them. If for any reason you become a victim, no one will come to your aid. You have to drop the superman or wonderwoman mentality and stop harboring notions that consumer spending will see us out of this rut. If u have spare cash, keep it.The crisis cannot get worse than it already is.

<If your washing machine is spoilt go and buy a new ones, it is going to be cheaper and bargainable. Instead of going for hand wash.> Nah, use your hand or better still dun wash.

<Companies foldup because no business or not enough business.> They often forget about the macro picture and go about doing business as usual.

<Try not to takeup new loan, if possible and try to keep your monthly loan repayment below one-third of your net income.  Keep at least 6 months of salary or monthly expenses.>Nah, if you can get a loan in the first place, make it as big as possible.

No quick fix in this time of desperation. The best fix would be to keep your spirits up and SMILE!!!!!

 

Forget to add HERD Mentality is created this way... Analyst start to applaud and say maybe there is value in UIC after the takeover is annoucement and not to sell at this price too cheap.. Same analyst maybe giving sell call on the same stock saying office property rental may fall 40% in 2009 and telling people to sell before the takeover annoucement.

Analyst never lose montetary. Right prediction dun win money Wrong prediction dun lose money. MOST IMPORTANTLY WRITE THINGS THAT PEOPLE WANT TO READ SO THAT CAN TAKE SALARY.. AND HOPE MORE PEOPLE READ SO THAT CAN COMMAND MORE SALARY..

The Objective of investment between investors and analyst is different here.. So try to follow your experience and business sense what come to investing. Dun let greed overcome you and fear to prevent u from investing.

 

Recession will end, no recession last forever. Trying to time when recession is going to end is like guess which 6 number is coming out of TOTO.

Buying stocks in very negative picture painted by newspaper and media will 95% be good buy. As fear cause people to sell.  (It takes gut and financial muscle to buy equities in very negative periods) THAT WHY NOT EVERYONE CAN BE VERY RICH MAN. YOU NEED FORESIGHT AS WELL AS GUTS. We are talking about rich man pumping BILLIONS into the market and not a few million here and there.

EG. When Yongnam is 1-2cents, people say the company is going busted with no future. When it is 50cents, people say this is a good stock to hold for long-term. (To me people always like to sing song, what matter is whether did u put in MONEYwhen it is 2cents and know when to SELL when it is over value starting at 20-30cents)

The One who is doing a takeover on UIC also read report on office rent may fall 40%, and so many bank analyst giving sell call on property stocks and Singapore is facing the worst recession.Then why he buy...? He see the value in the company and he got the financial muscle and discipline.. He got the holding power..

 

Try not to tighten your purse string too tight. It will only worsen the crisis.

If your washing machine is spoilt go and buy a new ones, it is going to be cheaper and bargainable. Instead of going for hand wash.

Companies foldup because no business or not enough business.

Try not to takeup new loan, if possible and try to keep your monthly loan repayment below one-third of your net income.  Keep at least 6 months of salary or monthly expenses.

Remember.....we always emerge from a recession, the question is when ?

In US, newpapers say the crisis alreadi in the 17th month (Started in Mid 2007) and the longest recent recession in US lasted 26 months in the late 80's. If Spore lag them by 6~12months, then a recovery will only happen in mid/late 2010.

Come 2011, Spore must have a election will be excellent timing.  BUT why did our election commission send out letters to civil servant to update their election official status.  So I think, should we have a election happening this year, it will be a very bad news. Can I say a recovery will only happen in 2013-2014 ????  (Crazy.....simply impossible scenrio)

Just my thought.......so free these days.....heeeee

Do share your idea as I really have no idea when this will go away.  So I look for marker outside the conventional economical figures......

nextdoor      ( Date: 18-Jan-2009 22:45) Posted: When companies start to fold up and retrenchement like never before kicks in Singapore, it will mark the beginning of Singapore worst crisis ever! What the govt is doing is a precaution to all of us, telling us the worst, very bad situation, is about to happen here. Be vigilent and keep your cash tight for a real stormy days to come. Cash is not enough, upgrade yourself to keep employed!

 

When companies start to fold up and retrenchement like never before kicks in Singapore, it will mark the beginning of Singapore worst crisis ever! What the govt is doing is a precaution to all of us, telling us the worst, very bad situation, is about to happen here. Be vigilent and keep your cash tight for a real stormy days to come. Cash is not enough, upgrade yourself to keep employed!

 

Hmm there's nothing the gov can do but minimize damage to citizens.

 They can't bring economy up cos we are too small. Can only try soak up damage.

 

http://business.asiaone.com/Business/News/Office/Story/A1Story20090116-115127.html

Singaporeans can also look forward to further  measures to help companies reduce business cost and Singaporeans tide over the difficult period in the upcoming Budget package for 2009.

Don't lose sight of long-term initiatives. Citing Singapore's latest trade figures which declined sharply, he said that top on the government's priority is to help businesses cut cost. He also noticed that 30% of the cranes at PSA are sitting idle, with shipping freight figures close to zero. 

"We must have a muscular response in the Budget. The key issue for us is how to save jobs. Of course, to have economic growth, you've got to stimulate demand. But this time it's a global recession, and it's beyond us. We can do what we can in Singapore, but it's not going to solve our economic growth problem," said Senior Minister Goh

teeth53      ( Date: 18-Jan-2009 22:12) Posted: Help from the government. Retrenchments should be considered only as a last resort. As the National Wage Council noted, the government has already responded earlier to help companies and workers cope with the downturn. The Skills Programme for Upgrading and Resilience (SPUR), launched last December and costing $600 million over two years. key measure to help companies manage excess manpower and upgrade manpower capabilities. Companies are urged to make use of SPUR to send workers for training. WorkersCompanies will benefit from enhanced government financing programmes, as well as lowered corporate taxes in 2008. Meanwhile, assistance measures are in place to help Singaporeans cope with the downturn. These include Growth Dividends, S&CC and Rental Rebates, and the Workfare Income Supplement (WIS) that were unveiled in the 2008 Budget. Singaporeans can also look forward to further  measures to help companies reduce business cost and Singaporeans tide over the difficult period in the upcoming Budget package for 2009

 

Help from the government. Retrenchments should be considered only as a last resort.

As the National Wage Council noted, the government has already responded earlier to help companies and workers cope with the downturn. The Skills Programme for Upgrading and Resilience (SPUR), launched last December and costing $600 million over two years. key measure to help companies manage excess manpower and upgrade manpower capabilities. Companies are urged to make use of SPUR to send workers for training. WorkersCompanies will benefit from enhanced government financing programmes, as well as lowered corporate taxes in 2008.

Meanwhile, assistance measures are in place to help Singaporeans cope with the downturn. These include Growth Dividends, S&CC and Rental Rebates, and the Workfare Income Supplement (WIS) that were unveiled in the 2008 Budget. Singaporeans can also look forward to further  measures to help companies reduce business cost and Singaporeans tide over the difficult period in the upcoming Budget package for 2009

 

National Wage Council's revised guidelines from 16 Jan 09 to 30 June 09

The Council recommended that companies grant built-in wage increase commensurate with the companies' performance as well as business prospects to ensure that such increases would be sustainable. It also asked companies to consider giving a one-off special lump sum payment to rank-and-file workers to help cope with the high inflation. NEXT...

Wage council: Freeze pay, cut costs

The National Wage Council warned that unemployment and layoffs will be 'substantially higher' this year and strongly recommended two measures to companies in light of the economic downturn - cut costs, and freeze pay - as it reviewed the guidelines it issued on May 2008.

Wage freeze

It said that the company should talk to unions and members to reduce and manage total costs. Wage cuts or pay freezes may be implemented, commensurate with performance and prospects, in order to help companies to stay competitive and save jobs.

Cut costs to save jobs

Companies are urged to take measures to reduce non-wage costs. Meanwhile, the government is also urged to reduce business costs. The Ministry of Manpower (MOM), Singapore National Employers (SNEF), and National Trades Union Congress (NTUC), have recently formulated and issued a set of Tripartite Guidelines to help companies manage excess manpower through various cost cutting measures and to consider retrenchment only as a last resort.

Workers' cooperation needed

Workers are also encouraged to take advantage of SPUR to upgrade their skills and enhance their employability. They should also be willing to accept measures to manage excess manpower in order to help companies save jobs. Unemployed workers should also take advantage of SPUR to upgrade themselves and be flexible in accepting new job opportunities.

teeth53 thot problem with younger jobless retrenched workers are their expection...managing their expectation is, is even more difficult as this is d 1st time, young S'porean got retrenched and job don't come very convenently or very easily

teeth53      ( Date: 18-Jan-2009 21:52) Posted: <> S'pore's jobless to rise, one third of jobless is young n fall below age 30 old years. SINGAPORE'S National Wages Council (NWC) said on Friday unemployment and layoffs will be 'substantially higher' this year, and recommended that firms affected by economic downturn institute a wage freeze or wage cuts to stay competitive and save jobs. Singapore was the first Asian economy to fall into a recession in 2008 and government has warned that the economy may shrink as much as 2 per cent this year. It unemployment rate was steady at 2.2 per cent in the third quarter Recommendations by the NWC, which comprises of representatives from government, employers and unions, are not binding on employers but are usually followed by state-linked firms such as Singapore Telecommunications and DBS Group. The council usually meets in May but was convened four months ahead of time to set wage guidelines amid the worsening economic outlook.

 

<>

S'pore's jobless to rise, one third of jobless is young n fall below age 30 old years.

SINGAPORE'S National Wages Council (NWC) said on Friday unemployment and layoffs will be 'substantially higher' this year, and recommended that firms affected by economic downturn institute a wage freeze or wage cuts to stay competitive and save jobs. Singapore was the first Asian economy to fall into a recession in 2008 and government has warned that the economy may shrink as much as 2 per cent this year. It unemployment rate was steady at 2.2 per cent in the third quarter Recommendations by the NWC, which comprises of representatives from government, employers and unions, are not binding on employers but are usually followed by state-linked firms such as Singapore Telecommunications and DBS Group. The council usually meets in May but was convened four months ahead of time to set wage guidelines amid the worsening economic outlook.

 

Ha ha, dun worry, if lately u acc some good stocks.

 

Now I am really scared !! its officially very bad!

 

Singapore govt may dip into reserves 

SINGAPORE: As Singaporeans brace themselves for a difficult year, a strong response to the global recession will be needed in the upcoming Budget. 
This could involve dipping into the carefully-guarded reserves of the country, according to Senior Minister Goh Chok Tong. 

"It's a difficult decision, because once you do that you may open the reserves for future demands which may not justify the use of the reserves. So, it's an issue that the Prime Minister is thinking over very carefully," he said. 

But Mr Goh stressed that such a move is intended for exceptional times. 

"And we've always said, the reserves are for a rainy day. So if this is not a rainy day, I don't know what is a rainy day. But nevertheless it has to be justified to the President. So, that's an issue which Finance Minister and the Prime Minister would have to deliberate quite carefully," said Mr Goh. 

When asked what this sum could amount to, Mr Goh's reply was that it depends on the measures that would justify the use of the reserves. 

Citing Singapore's latest trade figures which declined sharply, he said that top on the government's priority is to help businesses cut cost. 

Mr Goh also noticed that 30 per cent of the cranes at PSA are sitting idle, with shipping freight figures close to zero. 

"We must have a muscular response in the Budget. The key issue for us is how to save jobs. Of course, to have economic growth, you've got to stimulate demand. But this time it's a global recession, and it's beyond us. We can do what we can in Singapore, but it's not going to solve our economic growth problem," said Mr Goh. 

Senior Minister Goh was speaking to reporters after distributing hongbaos and gifts to about 40 needy residents at his Marine Parade constituency, an annual tradition for him. 

And this year, the increased cash assistance of S$100 in each hongbao couldn't have come at a better time for some families, as Singapore's economic growth this year, which is forecast to be between minus 2 and plus 1 per cent, will be revised ahead of Thursday's Budget. 

On the issue of the investigations into the failed financial products such as those linked to Lehman Brothers, Mr Goh said there are lessons learnt from the episode and more measures will be put in place. 

He refused to elaborate, saying: "I would not want to go into this, because there's a question (to be) asked in Parliament (which sits on Monday)...MP will ask the question, so I let the question be answered in Parliament."