I was overseas and walking down a marina where boats and yatches were berthed.
A security guard stood there ensuring that no one trespassed the gates which even a 5 year old could easily climb over.
The scenery was surreal. Calm and peaceful. Two children around the ages of 5 and 7 were feeding some fishes in the marina. The water was clear and I could see the fishes swarmed to them as they tossed the bread to them.
The white boats and yatches were parked neatly in rows. I couldn't help but notice that they were all white in color and that there were people actually living in them.
I striked up a conversation with the security guard. He was tanned and looked smart in his iron pressed white uniform. Bearning a moustach, he looked pretty friendly and smiled at me as I approached.
"How much to park the boat there?" I asked
"Don't know." he shook his head as he replied in his rather broken english. It was clear that he was not good in the language.
A brief silence and then he said: " Maybe ...3000. Yes , 3000 one month"
He did not seem like he knew the answer but felt obliged to give one anyway.
"Do they need to be members or anything?" I asked further
"Yes..yes..members..., only boat berth pass holders allowed in." he replied, clearly echoing the words on the sign that was placed on the gate to warn any trespasses.
Hoping to bring the conversation further, I asked : "And these people stay in their boats? Where do they come from?"
"Everywhere...they come here and park.... then they go off." He replied.
"Boy..where do you come from??" the security guard directed this question to the 7 year old boy feeding the fishes just below.
"Singapore." the boy replied.
"Where is your daddy" the security guard asked.
"My daddy is at home. Our mummy brought us here." the little boy replied as he continued feeding the fishes.
Another brief moment of silence....
"So where are you from?" the security guard turned and asked me.
"Singapore" I replied.
"Same as that boy." he pointed to the little boy, as if I had not overheard their conversation.
I smiled politely at the security guard as I turned to leave.
Beyond the marina stood houses that had the most spectacular view of the sea. The sun was rising and it was getting hot. The day had just begun for the security guard as he continued to walk around the rather empty marina.
So different are the economic lives of the security guard and the seven year old boy. One is much younger but perhaps has experienced a lot more things compared to the security guard who probably has never left his country before.
At this point, I am just amazed at how different and far apart their two worlds are. One is here on a holiday in a million dollar yatch while the other will most probably never make a million in his entire life.
It is not because one is cleverer or smarter or more hardworking. It is simply the country they were born in and the opportunities that were presented to them.
Further My Education
A friend asked me today if I was interested in furthering my education in the near future.
That was indeed a tough question to answer.
Oh well....
If money was not a concern, I would definitely go for further studies. Perhaps in a nice European country where I can get to travel around during the holidays too!
However, with masters and phds costing so much, I am not sure whether it is worth my money to pursue such courses. And besides, providing for the family comes first. It is a sacrifice I have to make.
I would LOVE to do it..especially an overseas stint. But the MONEY just does not make sense to me.
Perhaps in another year or two when things look better =)
At the mean time, I will just have to make do with my dosage of books.
Unless some generous sponsor pops up along the way and offers me a scholarship =)
If you are that sponsor sent from heaven, do let me know!
That was indeed a tough question to answer.
Oh well....
If money was not a concern, I would definitely go for further studies. Perhaps in a nice European country where I can get to travel around during the holidays too!
However, with masters and phds costing so much, I am not sure whether it is worth my money to pursue such courses. And besides, providing for the family comes first. It is a sacrifice I have to make.
I would LOVE to do it..especially an overseas stint. But the MONEY just does not make sense to me.
Perhaps in another year or two when things look better =)
At the mean time, I will just have to make do with my dosage of books.
Unless some generous sponsor pops up along the way and offers me a scholarship =)
If you are that sponsor sent from heaven, do let me know!
Counting My Money
I can't sleep. I am worried about my finances.
So I am up now counting my money in all the places that I have. Sometimes I forget that I even have such money lying around.
Cash:
1. POSB Savings : $6200
2. Maybank : $17,000
3. Citibank: $6300
Stocks
1. Singapore: $72,000
2. US Stocks: $8000
3. Unit Trusts: $4000
Semi-liquid Funds:
1. Investment Linked Plan 1 = $37500
2. Whole Life = $15,000
Okay...now I feel so much better..Can sleep again =)
So I am up now counting my money in all the places that I have. Sometimes I forget that I even have such money lying around.
Cash:
1. POSB Savings : $6200
2. Maybank : $17,000
3. Citibank: $6300
Stocks
1. Singapore: $72,000
2. US Stocks: $8000
3. Unit Trusts: $4000
Semi-liquid Funds:
1. Investment Linked Plan 1 = $37500
2. Whole Life = $15,000
Okay...now I feel so much better..Can sleep again =)
Another Wedding Dinner
It is another wedding dinner to attend again.
It seems that I have lots of wedding dinners to go to for this month. It really does become quite tiring attending so many weddings.
Will I enjoy this wedding dinner? I hope so (keeping fingers crossed)
Maybe I would if it was something special like having a Green Wedding. See Article below:
THE carrot has been dangled - go green for your big day and save on the cost of the wedding venue.
The National Park Board (NParks) announced the 20 per cent discount offer at the opening of its latest green wedding venue known as the Garden of Seasons at the HortPark in Alexandra Road which opened May last year.
For now, the discount applies to only the non air conditioned venues in HortPark, which charges between $85 and $190 per hour depending on location within the park.
The NParks said it has not decided if the offer would be extended to its other six parks where weddings can also be held.
To qualify for the discount, couples have to show NParks that they have taken at least eight environmentally-friendly measures for their wedding. These include using recycled paper for their wedding stationary, holding the ceremony at non air-conditioned venues and using a hybrid car for their bridal car.
'HortPark was chosen for the scheme as it's popular for weddings and there is a team in place to help with the criteria assessment,' said an NParks spokesman.
NParks' director of parks, Mr Kong Yit San, said he hoped the scheme would 'inspire more people to do their part in saving the environment, and reduce the large amounts of waste that weddings usually generate'.
It seems that I have lots of wedding dinners to go to for this month. It really does become quite tiring attending so many weddings.
Will I enjoy this wedding dinner? I hope so (keeping fingers crossed)
Maybe I would if it was something special like having a Green Wedding. See Article below:
THE carrot has been dangled - go green for your big day and save on the cost of the wedding venue.
The National Park Board (NParks) announced the 20 per cent discount offer at the opening of its latest green wedding venue known as the Garden of Seasons at the HortPark in Alexandra Road which opened May last year.
For now, the discount applies to only the non air conditioned venues in HortPark, which charges between $85 and $190 per hour depending on location within the park.
The NParks said it has not decided if the offer would be extended to its other six parks where weddings can also be held.
To qualify for the discount, couples have to show NParks that they have taken at least eight environmentally-friendly measures for their wedding. These include using recycled paper for their wedding stationary, holding the ceremony at non air-conditioned venues and using a hybrid car for their bridal car.
'HortPark was chosen for the scheme as it's popular for weddings and there is a team in place to help with the criteria assessment,' said an NParks spokesman.
NParks' director of parks, Mr Kong Yit San, said he hoped the scheme would 'inspire more people to do their part in saving the environment, and reduce the large amounts of waste that weddings usually generate'.
Finding My Purpose in Life
I am 28 years old this year and after much reflection, I realised that I still have not found my purpose in life.
It seems that I am drifting along like a piece of wood in a fast flowing river without the ability to steer myself to a path that I would like. The fast pace of life here also means that I hardly have the time to contemplate and think about what I truly want in life.
While friends are getting promotions, master's degrees and better jobs, I seem to be stuck in a rut that I can't dig myself out.
It seems that I lack a sense of understanding of what I want out of my life.
Is that sad?
Every year, when it comes to December, I realise that I am not closer to achieving any of my dreams simply because I have stopped pursuing my dreams for practical reasons like making a living. I am like a robot, emotionless... My childhood dreams, things that I thought I would do..are long perished from my thoughts...they seem almost impossible to achieve now where I am...I can't stop working because of the amount of financial obligations I have...thus...i also can't pursue my dreams. Midlife crisis I must say.
It seems that I am drifting along like a piece of wood in a fast flowing river without the ability to steer myself to a path that I would like. The fast pace of life here also means that I hardly have the time to contemplate and think about what I truly want in life.
While friends are getting promotions, master's degrees and better jobs, I seem to be stuck in a rut that I can't dig myself out.
It seems that I lack a sense of understanding of what I want out of my life.
Is that sad?
Every year, when it comes to December, I realise that I am not closer to achieving any of my dreams simply because I have stopped pursuing my dreams for practical reasons like making a living. I am like a robot, emotionless... My childhood dreams, things that I thought I would do..are long perished from my thoughts...they seem almost impossible to achieve now where I am...I can't stop working because of the amount of financial obligations I have...thus...i also can't pursue my dreams. Midlife crisis I must say.
Singapore 40 Richest - Tay Liam Wee
“We are more than that; we are in the business of creating time.” - Tay Liam Wee
Mr Tay Liam Wee has an estimated networth of around S$135m.
The son of the group’s founder, Tay Boo Jiang, Tay Liam Wee began his work experience in Sincere Watch Limited in his teenage years during his summer holidays, starting right at the bottom as an across-the-counter watch salesman. He learned the trade fast and worked his way up.
In 1984, upon graduating from the Lakehead University in Canada, Liam Wee joined the group as the executive managing director and created a new chapter in the history of Sincere. In the face of stiff competition in a fast-evolving environment, Liam Wee’s acute business acumen and strong spirit of entrepreneurship transformed a traditional watch company into an international established watch group.
Liam Wee conceptualised the four business pillars – the Fine Watch Retailing, Travel Watch Retailing, Brand Management and Lifestyle Watch Retailing - which would later form the foundation on which the Sincere Watch business is now built.
As the executive director, Liam Wee first introduced the concept of Fine Watch Retailing where his excellent interpersonal relationships with the watch makers and his keen understanding of the watch industry enabled him to acquire the distributorships of prestigious brands such as Patek Philippe, Jeager-LeCoultre, Audermars Piguet and Girard-Perregaux, thereby elevating the status of Sincere Watch to a brand to be reckoned with.
Recognising the desire of customers for a total shopping experience, Liam Wee pioneered service quality in Sincere Watch by enforcing a strict shirt and tie dress code on the shop level. Sales managers dressed in shirts and ties was a concept that was unheard of in the early eighties, and it helped distinguish Sincere Watch as an upmarket boutique in which to enjoy and purchase a prestigious watch. To further enhance fine watch retailing, Liam Wee enrolled the Sincere Watch’s sales staff in Service Quality (SQ) training courses established by the National Productivity Board and Singapore Airlines.
Liam Wee was named the Ernst & Young Entrepreneur of The Year Singapore 2004. This prestigious award honours entrepreneurs whose ingenuity and perseverance have created and sustained successful, growing business ventures. The Lifestyle & Retail Entrepreneur of The Year Award also went to Liam Wee and these two awards are a reflection of the resilience and determination of the team at Sincere Watch. Receiving these awards during the year of its 50th founding anniversary has made it all the more significant for Sincere Watch.
Amongst the record achievements for 2004, Sincere Watch is one of the six Singapore companies to make it into Forbes’ “Best Under a Billion” list of companies in the Asia-Pacific.
In 2005, Sincere Watch Limited was promoted to Main Board Listing of the SGX. In addition, in line with Sincere’s aim to promote the culture of horology and to develop an appreciation for the art of watchmaking among consumers and the media, there are plans to set up a Watch Academy. Liam Wee believes that this proposed Watch Academy, which is the first-of-its-kind in the world, will reinforce Singapore’s leading position in the global watch industry and provide an engine of growth in the coming years.
Mr Tay Liam Wee has an estimated networth of around S$135m.
The son of the group’s founder, Tay Boo Jiang, Tay Liam Wee began his work experience in Sincere Watch Limited in his teenage years during his summer holidays, starting right at the bottom as an across-the-counter watch salesman. He learned the trade fast and worked his way up.
In 1984, upon graduating from the Lakehead University in Canada, Liam Wee joined the group as the executive managing director and created a new chapter in the history of Sincere. In the face of stiff competition in a fast-evolving environment, Liam Wee’s acute business acumen and strong spirit of entrepreneurship transformed a traditional watch company into an international established watch group.
Liam Wee conceptualised the four business pillars – the Fine Watch Retailing, Travel Watch Retailing, Brand Management and Lifestyle Watch Retailing - which would later form the foundation on which the Sincere Watch business is now built.
As the executive director, Liam Wee first introduced the concept of Fine Watch Retailing where his excellent interpersonal relationships with the watch makers and his keen understanding of the watch industry enabled him to acquire the distributorships of prestigious brands such as Patek Philippe, Jeager-LeCoultre, Audermars Piguet and Girard-Perregaux, thereby elevating the status of Sincere Watch to a brand to be reckoned with.
Recognising the desire of customers for a total shopping experience, Liam Wee pioneered service quality in Sincere Watch by enforcing a strict shirt and tie dress code on the shop level. Sales managers dressed in shirts and ties was a concept that was unheard of in the early eighties, and it helped distinguish Sincere Watch as an upmarket boutique in which to enjoy and purchase a prestigious watch. To further enhance fine watch retailing, Liam Wee enrolled the Sincere Watch’s sales staff in Service Quality (SQ) training courses established by the National Productivity Board and Singapore Airlines.
Liam Wee was named the Ernst & Young Entrepreneur of The Year Singapore 2004. This prestigious award honours entrepreneurs whose ingenuity and perseverance have created and sustained successful, growing business ventures. The Lifestyle & Retail Entrepreneur of The Year Award also went to Liam Wee and these two awards are a reflection of the resilience and determination of the team at Sincere Watch. Receiving these awards during the year of its 50th founding anniversary has made it all the more significant for Sincere Watch.
Amongst the record achievements for 2004, Sincere Watch is one of the six Singapore companies to make it into Forbes’ “Best Under a Billion” list of companies in the Asia-Pacific.
In 2005, Sincere Watch Limited was promoted to Main Board Listing of the SGX. In addition, in line with Sincere’s aim to promote the culture of horology and to develop an appreciation for the art of watchmaking among consumers and the media, there are plans to set up a Watch Academy. Liam Wee believes that this proposed Watch Academy, which is the first-of-its-kind in the world, will reinforce Singapore’s leading position in the global watch industry and provide an engine of growth in the coming years.
He sold 50% stake in family business Sincere Watch in early 2008 to Hong Kong watch retailer and distributor Peace Mark at a market high. In Sep 2008, it was reported that he resigned from Peace Mark as director(see article below. Peace Mark ran into financial problems and now Sincere is being sold. Tay is considering bidding with other investors to buy it back.
Read Related Articles:
2. Peter Lim
Just a sampling of some of the posts of this blog to get the newcomer started.
Real Estate Investment Trusts (REITs)
What are REITs?
Buy Property or Invest in REITs?
Why Invest in REITs?
Singapore REITs - History and Regulations
Income Investing - REITs
REITs trading below Net Asset Value
Commodities/Gold/Silver
Buy Silver in Singapore
Is Gold and Silver Still a Buy?
Insurance
Cheapest Insurance in Singapore?
Can You Trust Your Financial Planner?
Popular Reads
How Much to Give for Chinese Weddings
How Much to Give for Church Weddings
A Brutally Honest Post
Real Estate Investment Trusts (REITs)
What are REITs?
Buy Property or Invest in REITs?
Why Invest in REITs?
Singapore REITs - History and Regulations
Income Investing - REITs
REITs trading below Net Asset Value
Commodities/Gold/Silver
Buy Silver in Singapore
Is Gold and Silver Still a Buy?
Insurance
Cheapest Insurance in Singapore?
Can You Trust Your Financial Planner?
Popular Reads
How Much to Give for Chinese Weddings
How Much to Give for Church Weddings
A Brutally Honest Post
Never Shave in Public
The last thing you want to do is shave in front of millions. First it was Henry's Hand of God II that got France through to the World Cup, then it was Tiger Woods (with his affairs). Federer will most probably be watching his back for the paparazis.
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Networth as of Feb 2010 is estimated around $652,000. A slight drop from Jan 2010. The decline in networth was due to a slight drop in my ... -
“We are more than that; we are in the business of creating time.” - Tay Liam Wee Mr Tay Liam Wee has an estimated networth of around S$135m.... -
Here are some frequently asked questions about sgfinancialfreedom: Q: How do you compute your networth? A: I compute my networth by adding m...
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As most of you know by now, I have started a POSB Kids Savings account for my child. The main purpose of this account is to save for his un...
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I can't sleep. I am worried about my finances. So I am up now counting my money in all the places that I have. Sometimes I forget that...
