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Thursday, July 23, 2009

Knowledge is Key!

I just finished my Global Strategy module of my MBA class. It has been an interesting but tired experience. My classmates are quite nice and being able to interact and learn has been a refreshing change. I have actually applied the taught knowledge into practice. I am a person who likes action and not bullshit. I am a person who advocates not just talk but action. So my class mates, including long time friend Douglas Foo, are quite enthused by the practical perspectives. The intellectual sparring has been quite interesting.

With that said, I am retiring for the night!

Your Friend

Andy Ong
22/07/09

Tuesday, July 21, 2009

Confused by how the markets are moving? Read on!

Apologies for not writing the last month or so, it has been a very hectic period. I just stepped off the plane from Chin and it has been not too pleasant a trip. The property markets has been going crazy for the last 2 months and every person ‘in the know’ including the top analysts are quite baffled. Well, what I shared with you who attended my CEO Forum last October would have benefited as my prediction of a V shape recovery came true. Congratulations to those of you who acted and made money.

It will not be so easy now as the initial enthusiasm will wear off and the exuberance will continue for a while more but I expect prices to stabilize soon. The top end of the market is started to move but with so much supply coming on line and rental yields not catching up, it will be a tough sell. However, over the long term, I am still very bullish on Singapore property. Why?

Think about it, the recent Jakarta bombings, the crime wave in Malaysia, the political instability in Thailand, the typhoons in Taiwan/Hong Kong, earthquakes in China etc etc etc. Singaporeans do not appreciate what we have. A safe, natural disaster free country where we can raise our kids. Our high English competency is an added attraction. More foreigners will be buying here. I can assure you the Indonesians are certainly more attracted to Singapore after the bombings. Big names like Jet Li, Gong Li and Jim Rogers have all migrated here. If you need more convincing, just go to Takashimaya and on some days, you can hardly understand the languages being spoken.

With that said, my money will not be in residential property as I favor the commercial sector simply because prices are still relatively reasonable. I will share more in my next posting.

Your Friend

Andy Ong
21/07/09