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04-03-2014, 11:14 AM
(This post was last modified: 04-03-2014, 11:20 AM by specuvestor.)
As per our discussions on properties, I hold the view that it is policy makers' job to focus on cost of business/ living and not asset appreciation... the latter will take care of itself when you focus on the former... just like share price will take care of itself when the business owner do the right thing in the 3 layers.
Now Singapore has another No 1 to brag about
But I take issue with the idea that cost is compounded by imports when that had been the case since independence. Singapore been controlling the COGS through strengthening SGD which IMHO is the right policy, but operational capex from overheads and labour cost is not something that appreciating SGD can arrest
"Singapore is now ranked as the most expensive city in the world, according to new research published today by The Economist Intelligence Unit (EIU) in its Worldwide Cost of Living survey.
Price rises and a stronger currency mean that Singapore now has the "dubious" claim to the title of the world's most expensive city, according to the EIU report that compares the cost of living between 131 cities worldwide using New York as a base city.
Over the last decade a 40 percent currency appreciation, coupled with solid price inflation, has consistently pushed Singapore up the ranking. The city also has some structurally expensive items that skew the overall cost of living upwards. For example, car costs have very high related certificate of entitlement fees attached to them, which makes Singapore significantly more expensive than any other location when it comes to running a car. As a result, transport costs in Singapore are almost three times higher than in New York.
"Singapore's rise is partially attributable to the continued strength of the Singapore dollar, but the city has seen price rises too which have no doubt been compounded by a reliance on imports," said Jon Copestake, Editor of the report which looks at over 400 individual prices."
<SNIP>
http://sg.finance.yahoo.com/news/singapo...ector.html
Now Singapore has another No 1 to brag about
But I take issue with the idea that cost is compounded by imports when that had been the case since independence. Singapore been controlling the COGS through strengthening SGD which IMHO is the right policy, but operational capex from overheads and labour cost is not something that appreciating SGD can arrest
"Singapore is now ranked as the most expensive city in the world, according to new research published today by The Economist Intelligence Unit (EIU) in its Worldwide Cost of Living survey.
Price rises and a stronger currency mean that Singapore now has the "dubious" claim to the title of the world's most expensive city, according to the EIU report that compares the cost of living between 131 cities worldwide using New York as a base city.
Over the last decade a 40 percent currency appreciation, coupled with solid price inflation, has consistently pushed Singapore up the ranking. The city also has some structurally expensive items that skew the overall cost of living upwards. For example, car costs have very high related certificate of entitlement fees attached to them, which makes Singapore significantly more expensive than any other location when it comes to running a car. As a result, transport costs in Singapore are almost three times higher than in New York.
"Singapore's rise is partially attributable to the continued strength of the Singapore dollar, but the city has seen price rises too which have no doubt been compounded by a reliance on imports," said Jon Copestake, Editor of the report which looks at over 400 individual prices."
<SNIP>
http://sg.finance.yahoo.com/news/singapo...ector.html
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
Think Asset-Business-Structure (ABS)
