Are you ready for 7 million people on tiny Singapore?
-
mum_sugoku:
Er.. could the drop in rental incomes a result of having fewer tenants leasing these properties?
Wow! I love this student. Confirm got pay attention.
You have pointed that out correctly, ma'am. However, I deliberately chose those properties whereby the occupancy rate is steady. -
Dora1:
I agree that some SME might have experienced a 50% over a 5-year period. However, I would be surprised that this is experienced by most SMEs and it is contributed mainly by REITs.SMEs are suffering from the great rental increases. I'm sure REITs, gov policies and international money printing are all contributing effects. Anyway, like you said, from 2008 to 2013 40% increase in rent on average, and this is not considered substantial in your opinion? And there are definitely rent increase beyond 50% in the same period, and it was shared with me by more than just a handful of SME owners in different areas of SG. If you choose not to believe me, that's your own right because that's what a forum is about - discussing different opinions and exchanging different news and ideas.
Dora1:
I fear that you have not fully appreciated what the politicians are saying. Let me try to interpret for you. They are saying:Anyway, we are seriously OT liao.... The reason I brought up the property rental issues is to highlight that the tightening of FW quota so that companies will hire more SCs is not working if other business costs keep escalating at the same time. Being squeezed on both ends will only kill the businesses. Worse, there are a few of these SMEs that are way behind a lot of other companies in the neighbouring countires in terms of technology and product improvement because they are struggling to make ends meet day-to-day, no money to pump in, shortage of manpower to improve their products.
If everyone is unhappy about the influx of foreigners=>
We will cut the growth rate for them=>
Companies that rely on FW will be squeezed=>
Definitely some of them have to close shop if they cannot adapt.
There are no 2 ways about it. Manpower costs have always been the highest overhead of companies operating in Singapore. -
Irrelevant:
Yes the above seemed easy to understand, straight to the point and even with limited knowledge, I think this is one of the hottest bottleneck now.
I fear that you have not fully appreciated what the politicians are saying. Let me try to interpret for you. They are saying:
If everyone is unhappy about the influx of foreigners=>
We will cut the growth rate for them=>
Companies that rely on FW will be squeezed=>
Definitely some of them have to close shop if they cannot adapt.
There are no 2 ways about it. Manpower costs have always been the highest overhead of companies operating in Singapore.
Well we cannot always want the cake and eat it, and insist someone else finds a way to let you have such cake.
:roll: -
Incidentally, today's ST forum published a letter on foreign workforce matter:
http://www.straitstimes.com/premium/forum-letters/story/tighten-policy-employment-passes-20130222[quote]Tighten policy on employment passes
Published on Feb 22, 2013
IN 2010, the Economic Strategies Committee recommended that Singapore avoid increasing its dependence on foreign workers over the long term beyond the level then, which was one-third of the workforce.
The Government accepted the recommendations and committed in the 2010 Budget speech to moderate the growth of the foreign workforce and avoid a continuous increase in its proportion to the total workforce (\"...And our approach\"; Feb 23, 2010).
The Ministry of Manpower's (MOM) Comprehensive Labour Force Survey, however, found that the non-resident labour force has been rising steadily over recent years to a high of 37 per cent of the total labour force last year.
Is the Government still committed to limiting the foreign workforce to one-third of the total workforce? In the Population White Paper, what proportion of the workforce is projected to be made up of foreigners in 2030?
In the White Paper, the Government projected that two-thirds of Singaporeans would be in professional, manager, executive and technician (PMET) jobs in 2030, compared with half today. It noted that foreign workers would complement the Singaporean core by taking up lower-skilled jobs as Singaporeans upgrade to higher-skilled roles. Implicit in this should be a similar reduction in our dependence on foreigners in PMET jobs as Singaporeans take up these roles.
However, according to MOM's data, the number of foreigners on S-Passes and Employment Passes (EPs) more than doubled from 143,700 in 2007 to 316,200 last year.
Despite this, MOM maintains a very liberal policy for EPs. According to its website, EPs are not subject to any quotas as they are exempted from the calculation of foreign worker quotas.
This means the real foreign worker dependency can actually be higher than the quotas. Taken to the extreme, a company can theoretically have a workforce comprised entirely of foreigners on EPs and not a single Singaporean. This is clearly not a situation that should be encouraged.
The Government should demonstrate its commitment to build a high-quality Singaporean core by correcting this.
I propose that the S-Pass dependency ceiling be extended to EPs, such that only 20 per cent of a company's workforce can be made up of S-Pass and EP holders. I hope the Government considers this in its upcoming Budget.
Chua Cheang[/quote] -
Here's another one:
(Also from today's ST Forum)
http://www.straitstimes.com/premium/forum-letters/story/ease-the-plight-smes-20130222[quote]Ease the plight of SMEs
Published on Feb 22, 2013
THE Population White Paper caused a big stir across many sectors of our society, particularly among local small and medium-sized enterprises (SMEs).
Many SMEs are concerned that the curbs on foreign workers entering Singapore are too stringent and do not give them enough time to adapt.
Some SME bosses I met recently have told me that if the Government sticks to the current foreign worker policy, they may not be able to sustain their businesses, let alone expand.
SMEs are facing two main problems, namely, a shortage of manpower and high operating costs.
Manpower shortage is a complicated issue. Many SMEs have vacancies but are unable to find Singaporeans to fill them. Yet, they are unable to bring in foreigners due to the curbs.
SMEs hire a relatively low percentage of foreign workers, compared to the numbers hired by big construction companies or shipyards.
A one-size-fits-all approach will result in SMEs facing greater difficulties in the near future.
The Government should work out a more resilient foreign worker policy for SMEs.
High operating costs, specifically salary, rent and transportation costs, also hurt SMEs.
Salaries are high solely because of the labour shortage. SMEs have to pay higher salaries to attract Singaporean workers.
Many SMEs lease their commercial premises from real estate investment trusts, which often raise rentals so they can continue to deliver payouts to their unit holders. But this should not be at the expense of SMEs.
Transportation costs can perhaps be mitigated by separating commercial vehicles from private cars during the certificate of entitlement (COE) bidding process. COEs for commercial vehicles could be made more affordable. After all, an income-generating commercial vehicle should not be treated the same as a private car.
SMEs are closely linked to Singaporean life. They account for 99 per cent of all enterprises here and employ 70 per cent of workers. I hope the Government can do something to help ease the plight of SMEs.
Tay Boon Suat[/quote] -
Can provide facts & data to justify your statements?
Irrelevant:
I agree that some SME might have experienced a 50% over a 5-year period. However, I would be surprised that this is experienced by most SMEs and it is contributed mainly by REITs.Dora1:
SMEs are suffering from the great rental increases. I'm sure REITs, gov policies and international money printing are all contributing effects. Anyway, like you said, from 2008 to 2013 40% increase in rent on average, and this is not considered substantial in your opinion? And there are definitely rent increase beyond 50% in the same period, and it was shared with me by more than just a handful of SME owners in different areas of SG. If you choose not to believe me, that's your own right because that's what a forum is about - discussing different opinions and exchanging different news and ideas.
Dora1:
I fear that you have not fully appreciated what the politicians are saying. Let me try to interpret for you. They are saying:Anyway, we are seriously OT liao.... The reason I brought up the property rental issues is to highlight that the tightening of FW quota so that companies will hire more SCs is not working if other business costs keep escalating at the same time. Being squeezed on both ends will only kill the businesses. Worse, there are a few of these SMEs that are way behind a lot of other companies in the neighbouring countires in terms of technology and product improvement because they are struggling to make ends meet day-to-day, no money to pump in, shortage of manpower to improve their products.
If everyone is unhappy about the influx of foreigners=>
We will cut the growth rate for them=>
Companies that rely on FW will be squeezed=>
Definitely some of them have to close shop if they cannot adapt.
There are no 2 ways about it. Manpower costs have always been the highest overhead of companies operating in Singapore. -
once population soar to 6.9 million on our tiny, suffocating land scarce island SG -
below scenario will become a norm - with horrible, disgusting people around. Some said her son study in St Hilda primary, recently shifted to Bedok temporary holding premises.
http://singaporeseen.stomp.com.sg/stomp/sgseen/this_urban_jungle/1609366/woman_honks_car_loudly_when_she_cant_get_to_her_usual_spot.html#commentSection -
can provide information for all the properties rather than just a few? thanks.
Irrelevant:
Wow! I love this student. Confirm got pay attention.mum_sugoku:
Er.. could the drop in rental incomes a result of having fewer tenants leasing these properties?
You have pointed that out correctly, ma'am. However, I deliberately chose those properties whereby the occupancy rate is steady. -
Wait until you grow white hair you also won't get the facts because they talk based on perceptions and yet insist that what they said are \"facts\" and when you ask for facts they say you can google and find them easily, don't need them to provide. That makes people wonder then how do they get their conclusion without the facts they purported should have to back what they say? :roll:
kaking:
[/quote]Can provide facts & data to justify your statements?
I agree that some SME might have experienced a 50% over a 5-year period. However, I would be surprised that this is experienced by most SMEs and it is contributed mainly by REITs.Irrelevant:
[quote=\"Dora1\"]SMEs are suffering from the great rental increases. I'm sure REITs, gov policies and international money printing are all contributing effects. Anyway, like you said, from 2008 to 2013 40% increase in rent on average, and this is not considered substantial in your opinion? And there are definitely rent increase beyond 50% in the same period, and it was shared with me by more than just a handful of SME owners in different areas of SG. If you choose not to believe me, that's your own right because that's what a forum is about - discussing different opinions and exchanging different news and ideas.
Dora1:
I fear that you have not fully appreciated what the politicians are saying. Let me try to interpret for you. They are saying:Anyway, we are seriously OT liao.... The reason I brought up the property rental issues is to highlight that the tightening of FW quota so that companies will hire more SCs is not working if other business costs keep escalating at the same time. Being squeezed on both ends will only kill the businesses. Worse, there are a few of these SMEs that are way behind a lot of other companies in the neighbouring countires in terms of technology and product improvement because they are struggling to make ends meet day-to-day, no money to pump in, shortage of manpower to improve their products.
If everyone is unhappy about the influx of foreigners=>
We will cut the growth rate for them=>
Companies that rely on FW will be squeezed=>
Definitely some of them have to close shop if they cannot adapt.
There are no 2 ways about it. Manpower costs have always been the highest overhead of companies operating in Singapore. -
JannettLee:
Wait until you grow white hair you also won't get the facts because they talk based on perceptions and yet insist that what they said are \"facts\" and when you ask for facts they say you can google and find them easily, don't need them to provide. That makes people wonder then how do they get their conclusion without the facts they purported should have to back what they say? :roll:
Dear JannettLee,
There is a difference between debating constructively and debating out of spite. We have noted that you have ignored our numerous moderating actions to remove all the irrelevant personal fights that involve your account in the last few weeks. If you insist on continuing to engage others in our community in this manner, your account will be terminated.
Thank you.
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better š
Register Login