Mall vacancy rate hits record high as retailers exit

chart-retail-space

Island-wide vacancy hit 7.3% in Q1.

Prices and rentals of retail space in Singapore continued to slide in the first quarter, while the overall vacancy rate inched up to its highest level in at least five years.

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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.

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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

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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.

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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.

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