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Friday, April 30, 2010

The Chinese are coming! Buy!

When I write, I write! I’m back folks. Just back from my China trip and I’m so happy to have my bak chor mee again. I guess I am just a old fashioned Singapore boy.
It was such an arduous trip with many interesting events. Our friends in China had to prohibit my female colleagues from participating in a couple of events and all I can say is I am happy to get out intact.

The Chinese are so hungry and innovative, so much so that w better be on our guard. I had always to visit Wenzhou where some of the world’s greatest entrepreneurs reside. Even the famed Shanghai businessmen have to take their hats off to them. They are fearless and their camaraderie spirit is amazing.

They had to fend for themselves as they found that the land they were living on infertile and they had to go forth and started their own businesses. Wenzhou streets are piled with Mercs, BMWs and Porsches while the rest of the Chinese cities, you will find more domestically made cars.

Why am I sharing all this with you? The Wenzhou real estate investors are the REAL trend setters in China. They pioneered real estate booms in quite of the Chinese cities, and some of these places are far bigger than Singapore. And guess what, with the recent Chinese government crack down, they are less bullish on the mainland real estate potential. Little wonder, given that Wenzhou real estate is almost the same price and if not more expensive than Singapore.

Guess what, my sources just told me that these folks are coming to Singapore for a site visit as they find Singapore real estate ridiculously cheap for an international level city. So the Singapore government may meet its match if they want to cool things now, if these guys really move in.

Just a tip for you. Till the next time, take care, my friends.

Your Friend

Andy Ong
30/04/10

Apologies for long delay!

Hi all, many apologies for not writing for so long as I have been buried with all the developments at hand. What have I been up to? I have finally completed the acquisition of the North Bridge Complex, started a new asset management company to manage the real estate assets under the group and I just became the Chairman of a listed company, Shun Thai in Bangkok.

All these new developments in the last 4 plus months! In the meantime, the education side is preparing for the paradigm in the education sector in Singapore. I am doing all these under the ERC lines of business. So I really, really beg for your forgiveness that I have not up to date with my postings.

I am so glad that many of you would have profited from the property boom thus far. My calls that the market will be ok and for you to focus on landed property were all spot on. I certainly hope that we can ride such trends together.

I am now in China, after visiting Shenzhen, Guangzhou, Wenzhou, Xian and I am so glad to be back Singapore soon. Before leaving, I was a bit skeptical and worried that the Chinese government’s measures to cool mainland real estate will impact Singapore as Chinese buyers are a force to be reckoned with as they are quite aggressive buyers of properties in Singapore. Plus the whole Greek episode really got me thinking.

In my next posting, I will share what I discovered during this trip. Until then, take care and God Bless, my friends.

Best Regards

Andy Ong
29/04/10