Crisis and retrenchment – How sentiment change in one year and how I am staying resilient to weather any storms ahead

The oil & gas (O&G), marine & offshore industry that I worked in is experiencing one of the worst headwinds in decades. Perhaps it is not just this sector per se that is affected adversely, many private sectors are also experiencing anaemic growth or falling earnings.

Colleagues being layoff, even MD has left. Everyone can be made redundant!

For me, “layoffs” not just headlined the news. It struck people I know in the industry as well as colleagues who were sharing the same office.

The latest addition to the expulsion list is our Singaporean MD.

Read More »

Advertisements

Lessons learnt from the recent interra resources rights issue

Interra resources is currently having a 1 for 2 rights issue. When I was trying to apply for the rights yesterday, I got a nasty shock when I didn’t see the rights for interra on the DBS atm machine. When I checked back on right offer information statement, I realized that only OCBC and UOB are the participating banks. I do not own any account with these 2 banks.

I could not use my friend’s ATM card for my application as the account had to be the same as the applicant’s or it will be deemed invalid. The good thing was that I still have some time to react as the application must be done by 21st September

Read More »

alarming state of Singapore’s ageing population

chart 4-7-16

Singapore’s labour force is ageing rapidly.

According to a report by Standard Chartered, estimably over 1 in 5 (22%) resident worker is aged 50 to 59. This is up from 17% a decade ago.

The report further interpolates that the expected resident population aged 20 to 64 using the current resident population and past trends. Assuming a stable population trend and constant participation rates, the labour force is likely to peak in 2020 to 2025 before decreasing after 2025.

Read More »

Still looking for work 6 months after losing job

author: Jeremy Koh

SINGAPORE – After he heard the dreaded news in 2014 that the plant he was working in will be closed down, Mr Chua G.C., as he prefers to be known, put on a brave front at home, keeping the news from his wife and child.

But the anxiety would creep up and paralyse him in the middle of a meal.

Seized by fear, he would sit in silence for more than an hour, worrying about the future, especially for his school-going children, now aged 18 and 15.

The manufacturing company will completely shut its operations later this year and Mr Chua will be without a job for the first time since he started working.

Worse, he is worried he will not be able to get another job paying equivalent pay, given his age.

Mr Chua, who has a degree in chemical engineering from the National University of Singapore and has worked in the plastics industry for over 20 years, was a manager at a plastic production firm earning between $8,000 and $10,000 a month.

Read More »

认识几个新公民,知道他们是这样折腾房子的

2012:

认识几个新公民,知道他们是这样折腾房子的。

其中一家,5年的一手EC,现在卖出可以翻一倍。于是他们卖了自己的单位,又买进楼上的单位,这样可以套现50w左右,自住。又去碧山买了套70w的小公寓,出租。2边还贷,原小区卖出买进,新房价大概100w,每月房贷大概4000吧(那哥们40出头了)。碧山那个单位,不清楚贷多少,算30w吧,每月房贷 1500?,租金可以有2500? 我想象不出碧山那里为什么会有70w的公寓,所以假设房子不怎么样租金不会很高。这样自住的房子需要自己掏腰包3000。夫妻+2个孩子,月收入估计6-7k左右。

Read More »