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Wednesday, May 16, 2012

The Europeans are at it….. AGAIN!

Just when all of us thought we can have a period of peace, the latest Greek elections have thrown the gates to chaos wide open. The austerity measures advocated by the Germans have caused Sarkozy his job and for the ordinary Greeks quite a bit of pain. I see only economic pain in the Euro zone for sometime to come. Some of you asked me why I have not made my move in Europe, well this is why. The downturn in continental Europe will be there for some time to come.

What impact does the European mess has our real estate? Well I definitely see more money coming our way. The 75% percent taxes proposed by Hollande is scaring entrepreneurs and the old money towards London and Asia. I see Singapore as a key beneficiary. There is an emerging anti-rich sentiment in Europe and the wealthy are scared. They have good reason to be but what is Europe’s loss will be our gain. On the other hand, weak global growth is also a concern as Singapore is such an open economy, vulnerable to global trends.

Look towards our exchange rates for guidance. If the Singapore Dollar strengthen drastically, be ready for another wave of property price increases especially in the commercial sector.

In the meantime, God Bless and all the best.

Your Friend,

Andy Ong
16/05/12


So much has happened over last few weeks!

Hi Guys! My sincerest apologies for the lack of updates over the last few weeks ever since Asian Titan Trends. I have been absolutely hammered! My schedule has been so totally packed from dawn to dusk. I’m so glad to have my generals assisting me on a day to day basis.

I’m trying to revamp our education offering amidst our jealous competitors questioning our value proposition. I’m trying to get our new hotel brand online and that is an absolute challenge! I am in the midst of arranging our Thai IPO. I’m looking at several property deals and I’m trying to keep my personal life in order with all the mess that’s happening as well. Arghh!!!! Absolutely challenging but interesting as well.

The Sunday Times did a feature on me and the reporter is absolutely first class. He coaxed me into telling things that are extremely personal. After the article was out, I had a lot of you giving me encouragement which was very nice. Not everything can be measured in dollars and cents and having good friends is far more important than making that extra buck. The regards I received from all friends were absolutely priceless. The article also made me reflect on life and how temporal everything is. We need to count our blessings in the form of relationships and not worldly belongings!

I will chat a little more with you regards the real estate market in the next couple of days.

Your Friend,
Andy Ong
16/05/12