Monday, December 9, 2013

Right on the mark!

Hi guys, its been such a long time! I have been traveling a lot, in fact, I was in Bangkok till yesterday. I have been so blessed that I caught the two days on calm in this protest-happy country. I do wish them all the best as they are a very lovely bunch of people. I have been fighting crisis after crisis, but it is the faith that the Good Lord has given me opportunities to do all this that drives me on. I have often reflected why I have to face so many trials, I always try to do the right thing but I suppose different people have different perspectives.  Life is challenging but I suppose you have to bulldoze your way through.

In my last entry, I shared with you that the residential sector will come down and well I have been right on the mark. The real estate sector is dependent on cheap liquidity and the government cooling measures has prevented further speculation. And with foreign demand cooling off due to additional higher stamp duties, the market will face intense headwinds in the months ahead. I know that many bought Duo(the combined Temasek and Khazanah development) which did very well at launch but those who are successful in getting units should be rather careful at this stage. I really do not like the feng shui of the place and for $2000 plus psf, I have many other options that are far more attractive.

The world’s economies seem to be reporting better economic numbers. This bode well for Singapore due to our reliance on the international economies. However, with money flows trending the other way around as they hunt for better returns, well I am not too positive on asset prices.

Till the next blog, take care and God bless!

Your Friend

Andy Ong

Tuesday, October 1, 2013

The property market in perspective…

I was at my long time lawyers place yesterday. They have acted for me in all my transactions until the professional liability insurance could not support us anymore. However, we have become very good friends in the process. They were all lamenting the lack of deals in the market. The banks are taking forever to process deals and many deals are being aborted as financing becomes scarce. As I had predicted in earlier posts, this round of new government measures WILL BE EFFECTIVE.

There is still activity in the market as Chinese money is still hunting for investments. I suspect the recent crackdown on corruption in China has something to do with this. Chinese officials and their cronies are preparing for ‘what if’ situations. The structures they have set up looks a little dodgy and they are targeting mainly commercial property and there is no ABSD that increases the price of their transactions for them. Do not underestimate the amount of money flowing in from this source as I estimate the amount to be staggering.

What is the bottom line then? Residential will be very muted especially if that asset class’ demand is domestically driven. Why? The drying up of financing will impact local Singaporeans’ ability to buy. This is because they are very dependent on bank loans. Think of landed properties where only Singaporeans and selected PRs are allowed to participate.  

I am also grim for HDBs as many workers are being sent back as the government is serious about winning the popular vote and cutting the quotas of workers. Those with employment passes are also being targeted as the minimum salary level has increased and the newly implemented job bank will require certain regulations to be passed before companies are able to hire them. The strong rental for HDBs has been propping up the upgraders market for mass market homes. I have been reiterating this for quite some time and I hope you do keep tab.

Commercial properties will still be selectively strong as foreigners are able to pay full cash! Yup, you did not hear me wrong, no financing. I certainly hope that the international economy do not collapse as any shrinkage of the economy will have everyone heading for the exit with no one to pick up the slack.

Till the next entry, take care and God Bless!

Your Friend,

Andy Ong


Give thanks for our blessings!

Life in the fast lane is interesting but all of us should put things in perspective. We all need perspective as we lose ourselves in this world of material chase. Only when traumatic events occur that we start to cherish the people around us. We really need to treasure the people around us a little more. As we chase for material things, we may have neglected them. Sadly, we leave behind all our material possessions when we have to depart eventually. We should stop and smell the roses and thank the people around us who loves us, try it and I am sure that you will be a happier person too

Till the next blog, take care and God bless!

Your Friend
Andy Ong


Wednesday, September 18, 2013

Fed tapering, my 2 cents worth

The world is looking forward to the US Federal Reserve’s decision to what they should do with their QE program. Well, I am not too bothered whether are cutting US$10 or 15 billion off their current program. This is the current consensus amongst economists. To me this is a non-event. Why? Any form of QE is a stimulus to the economy, whether it be US$1 or 100 billion. The US economy has been trying to recover from the global financial crisis. In fact, the bulk of that money has not been deployed to the real economy and instead sent financial assets to even greater heights.

This is because banks are afraid to lend to the main street firms except the very big names. And these guys do not even need cash in the first place. The Microsofts and Apples of the world have more cash than what they know to do with. In fact, they are borrowing to fund dividend payments at home as they do not want to attract tax should they repatriate their overseas income. This is the irony of the situation. All that hot money created by the Fed is screwing our markets.

Why am I not that concerned? The markets have long taken into account this eventuality. Our stock markets have been doing well due foreign money trying to find a home. In fact, the South East Asian markets have done well. They felt the pinch 3 months ago when these funds pulled back but have since seen fund flows coming back. Be very careful as this might be a very temporary recovery. The US economic recovery is slowly trying to gain ground, but I have not seen very solid numbers backing up a firm economic picture. If you want to know what signals to be watching out for, try non-farm payrolls stripping out all the one offs and window dressing. Events that will cause long term cost of borrowing to rise are indicators that I am watching very carefully.

I am seeing a lot of Chinese money coming in to support medium to large sized property transactions. I will share my observations as to why in the next blog. Quality commercial will be ok for the next couple of quarters but I do hope the government will monitor the residential sector very carefully. Or an unforeseen international economic event might cause mass panic given the exposure of Singaporeans.

For those investing in Singapore and Malaysia, I need to point out to you that both economies are not doing that great and companies will face challenges. Singapore’s non-oil domestic exports are not picking up and the newly elected PM of Malaysia are now contending with reining in the financial excesses pre election. The whole Iskandar region has done well with international money flowing in but deals are slowing drastically. In fact, many sellers have dropped their asking prices for land by as much as 20% in the last 3 months. Invest with your eyes open!

Tomorrow is Mid Autumn, I would like to wish you a Happy Mooncake Festival. This weekend is F1, so do enjoy the glamour and glitz. Many thanks for your many boxes of moon cakes, and I wish you health and wealth.

Till the next blog, take care and God bless!

Your Friend
Andy Ong

Tuesday, September 10, 2013

Residential hit will worsen… Beware!

At the last Asian Titan Trends earlier this year at the Marina Bay Sands, I told all of you that the residential market looks toppish and you should not be betting in an asset class that the government is trying to manage increases in prices. Many of the participants were rather surprised that all they have to do is to limit the amount of financing to 50% financing. There were looks of disbelief and again skepticism. I shared with them that before the end of the year, such measures will become a reality. Well, the government have gone a step beyond that and some are counting 50% financing a privilege under the TDSR, those who believed and managed to off load are heaving a huge sigh of relief. The hardest hit is still the higher end of the market but should the international economy prove to weaken again, mass market homes will be the hardest hit.

Why? Many have bought horribly expensive homes at sub-urban areas. Developers have sold these homes at ever increasing prices. They have to as they paid the government ever increasing land prices in the government land sales program as many HDB upgraders fall over themselves. Guess what the party will have to end eventually. The government is removing demand for HDB by imposing curbs on foreign workers, thus rental yields will fall. Add the recent measure to prevent recent PRs from owning their flats, this is very effective to remove demand thus a double whammy. We have witnessed falling COVs and this is just the beginning. If not managed properly, the whole residential property situation can prove to be a bloodbath. I sincerely hope that the improving global economy will buffer the situation as an economic slowdown now will be an absolute party pooper.

I am writing this blog from an airplane after visiting our local operations and seeing quite a few sites there. I am now actively looking at regional opportunities and am frankly amazed by the many great sites available. We maintain a strict investment regime. We mainly invest for our own real estate requirements and do not speculate. Such investment discipline has served us well, as own use assets will enable us to ride out the cycles.

I am maintaining this blog on a casual basis thus the number of thoughts is limited but I will be more active if there are more people liking what I’m doing. So do like my blog and encourage me to share my thoughts please. Till the next blog, take care and God bless!

Your Friend
Andy Ong

Friday, August 16, 2013

Spreading the BIG message!

Developing a hotel with character has been my obsession for the last 3 years. Seeing the BIG hotel come alive certainly has been an interesting journey. From acquiring the property to emptying it of tenants, design concept to testing of beds. The whole journey has been an interesting affair and I could not have done it without my team. I am proud of my people who have been with me through the business journey in the last 3 years. My education, real estate people and hospitality professionals have been a source of strength even when I am most down. I will treasure these pillars.

The whole market for hotels has gone nuts. Gallery Hotel, Park Orchard and now the Sentosa have all gone for record pricing. All the room are going for 1 to 1.5 million in pricing. When I initially put the hotel up for sale, there were some skepticism on the pricing but now it seems very reasonable at $260 million. My real estate lawyers were joking with me that the market players commented that I always seem to be emotionally attached to the properties acquired but I seem to have no qualms once the price is right. Well, my investment philosophy has always been long term but if the target is achieved, it makes sense to recycle capital.

These exact same guys are now asking when is my next property investment course as they are curious on the strategies employed. There are many teaching programs but I am proud that we practise what we preach. Now that we are seeing some results, many skeptics are now converted and keen to learn. I am proud that I have taught not just novices but even real estate professionals. However, I am past my prime in teaching and have declined to teach further classes. I may change my mind later but at this moment, I am relishing the many opportunities at hand and enjoying life.

The new international economic environment and government curbs will have interesting impact on the investment scene and I will share more at a later date. In the meantime, it is Friday and I wish a great weekend ahead. Till the next entry, have a blessed life!

Your Friend
Andy Ong

Thursday, August 15, 2013

I’m Addicted!!!

Hi guys, it has been a long time since my last post. I have been so busy catching up on all the lost time in the first few months of this year. I have just visited so many places that I have lost track of where I am. I have found that the opportunities in the region are so interesting that it simply amazes me that the property players are still obsessed with this little red dot. I will elaborate later posts.

However busy I am, I am so used to going to church everyday that I’m actually addicted to going to church at Saint Andrew’s Cathedral. It all started at the beginning of the year, when I was in self doubt that I sought comfort and solace in God’s fold. What happened subsequently was nothing short of miraculous. I was guided through the whole experience through a whole series of people and events culminating to enlighten me.

Now I start the day with hymns before proceeding to church. Don Moen’s  “God will make a way” and “ Tis so sweet to trust in Jesus” are my favourite hymns. At church is where I find peace, an oasis to contemplate life and find strength to face the challenges of life. What I can say is that I am a new person who is past a lot of material things and looking at life from a different perspective. This post is for all of you who are facing challenges. Have faith in him and you will not be disappointed. He will make a way even if there seems to be no way.

Till the next entry, have a blessed life!

Your Friend
Andy Ong

Wednesday, May 29, 2013

The whole world is rushing by us…

Hi guys, it has been a very interesting period of time for me. The new hotel opened to a great reception, we initially opened 150 rooms battle-test some people systems and processes but we were overwhelmed. We had to quickly open another 50 rooms to meet demand last weekend. We had a sell out of all the rooms.

BIG Hotel

The comments from our guests were very positive. We had teething issues with the opening and car parking, however our guests loved the rooms. The in room tablets, free movies, extra comfy beds, signature essential oil scents all contributed to the BIG experience. We had so many perfect 10s in their scoring of their experience with us. We are extremely flattered and will work harder to deliver a better experience. We only hope for your forgiveness and understanding. We are trying to spread our unique experience to other regions as well and we will be happy to work with partners to that effect.

The media reported our appointment of Jones Lang to conduct a tender for our House of Tan Yoke Nee. This beautiful historic building was a landmark purchase and it is with a heavy heart to potentially let it go. However, our school needs a new home before the University of Chicago’s lease ends. The market has moved up significantly for the commercial sector so we hope to get an owner who appreciates this site for its beauty and heritage.

I feel I have wasted enough time in the first part of the year and I do not want to squander time away. There are more precious ways of spending time with God and your loved ones. We are often caught up with our worldly ways and I am extremely guilty of that too. I hope to be able to turn over a new leaf and put God and loved ones ahead.

Till the next entry, have a blessed life!

Your Friend
Andy Ong

Thursday, May 16, 2013

The World is Going Crazy, How To Profit From It.

Hi guys! I am sitting in our standard hotel room banging away at my computer and I simply love it! Everything I need is here! We are receiving many compliments for our hotel concept and we invite you to come experience us. That did not come out too right but what the heck.

The world is going crazy with all the central bankers printing money like no business. The prescription for all central bankers is to lower interest rates after Abenomics took form. Prime Minister Abe is trying to grow the Japanese economy by massive fiscal stimulus add the Yen easing and it has stoked one of the biggest rallies in the Japanese stock market. The world seems to be a perfect place with low interest rates and low inflation. If you ask me we are setting ourselves up.

Something eventually has to give. All that money being printed is being put into the ‘latest’ investment trend. These hot money will chase assets like nobody’s business. Hong Kong and Singapore real estate were obvious targets, now there are investors targeting Japan and the European economies still in doldrums. The point is asset inflation will have to result in higher consumer prices eventually. There is money to be made by existing owners of assets. Make sure whatever you buy are either distressed assets or stuff that you can dispose quickly off once central bankers start tightening.

Personally, I am still trying to recover from my earlier trauma. I just wish for everyone peace to pursue what we want in life. In my case, I really hope to chill out for sometime. There is no point in antagonizing anyone in life and as what Gandhi says, “ An eye for an eye makes the whole world blind”.

May God showers his blessings on you, and till the next entry, take care and God Bless!

Your Friend,
Andy Ong

Wednesday, May 15, 2013

Accolades for our hotel concept…

Hi guys! I’m elated that we finally obtained our hotel license on Monday. We literally had to crawl through a ring the size of a doughnut, spiked with fire to go through all the relevant authorities. Believe me, trying to convert an office building into a hotel in a Singapore environment is nothing short of a very painful process. Anyway, all our partners who visited, including the government agencies, are quite wowed by what we have introduced to the Singapore's hotel scene. We have been told we are the most technologically advanced hotel in Singapore amongst other nice blessings.

What is even more heartening is that bookings have been very very strong! We hope to have you support and make this into a full house hotel and I thank you in advance. What you can look forward to is all the big creature comforts you expect out of a 5-star hotel in a smaller package. I bumped into our very first guest on Monday. He too is in the hotel trade and he really appreciated the many thoughtful features we incorporated into the hotel.

Of course, I am grateful not just for this but also the fact that my recent problems have been settled with the counter parties withdrawing their cases and having to pay my costs as well. Many thanks for all your congratulatory messages. I feel blessed that so many of you stuck with me. Most of all, I am grateful that God has given me strength to last through the last few months. He has really shown me the light of how I have strayed and not putting him first. I have learnt my lesson and will “Seek Ye first the kingdom of God”. Till the next entry, take care and God Bless!

Your Friend,

Andy Ong

Wednesday, May 8, 2013

The Perfect Storm is brewing!

I honestly believe that property investors who invest in the residential sector now will be facing the perfect storm in year 2015. By then a combination of very interesting ingredients will lead to many crying if they make the wrong investment decision.

The first is the fact that I expect Western economies to recover by 3rd quarter 2014 and interest rates will move north as years of money printing will have to lead to a fearsome old fiend in the form of inflation. The lack of economic activity has tamed this to some extent but by the amount of money printing cannot be sustained. When interest costs increases the holding costs of properties, quite a few of the owners without the strong holding power will be forced to sell. 

The second is the fact that government cooling measures in the form of seller’s stamp duty would have expired for many buyers by then.  Thus if anything untoward happens economically, such events will send many investors to the door at the same time. With everyone rushing out of the door at the same time, I’m really scared.

The third is the fact that a lot of new supply will be ready by then. The number of projects being completed by then is quite astounding. And with the government policy of restricting foreigners from working in Singapore by clamping down on the numbers of work permits, S passes and employment passes, the option of renting out becomes not available. Too many homes chasing too few residents. Think about it.

Minister Khaw Boon Wan recently warned people that they have to take into account higher interest rates when investing in real estate. The government is concerned as they have an election by then in 2015/2016. If the real estate market tumbles, they will be very concerned, as many will be very angry at the authorities. Well, at least you cannot claim that they did not try to warn you.

On a side note, I’m very happy that my personal issues have been resolved. I feel vindicated at the baseless allegations thrown at me. I thank God who gave me strength and encouragement to face the challenge. He is amazing as he showed me the way clearing my name. I must thank all your encouraging messages that kept me going, I am indebted to you.

Till the next post, God Bless!

Your Friend
Andy Ong

Monday, April 29, 2013

So much money to support property prices… be aware!

The most common question that I am asked is if there are any more opportunities in property investments. We are in a rather interesting situation where residential prices are being suppressed by government measures but funding costs are so low and there are limited investment opportunities by the man in the street. The attention has now switched to local commercial property and overseas opportunities. The fact of the matter is that Thai, Japanese and other non-traditional sources of properties have come to our shores. London properties are now selling faster than ever as international money are now looking for safe havens.

European money, US money, Chinese capital and now add the Japanese, yes even the Japanese are looking at international opportunities. Why the Yen is sinking like a piece of shit and the new Abe government is looking to devalue it more. If you are holding on to Yen assets, well good luck. Given that Japanese institutional investors are very slow to act and always late to the game, you can expect more money to flow out once they get their act together.

Developers are now so desperate that they are looking at just across the causeway. Johor Bahru land has gone up like crazy, as Singapore based developers have bidded assets up. It will be interesting to note what will happen over the next few years. Early Iskandar investors are smiling especially if they had bought from decent developers.

I am looking forward to the hotel opening soon as final preparations are being put in place. The first guests are expected to arrive in May. The whole project is looking very pretty.

B1 Lobby Stairs
Front Desk

A shot from Mezzanine to B1 lobby 

B1 Lobby Area

HANSA Bathroom fittings - Bathworld

Superior Room 

Decorative setting in the B1 lobby

BIG lamp over the lobby table

Glass Elevator at B1 

Concierge Counter at Carpark 

Suite Room fittings

Lift Lobby

Suite Room!

I am very proud of my team who has managed to piece the project together. We are the only people who managed to convert a full office building into a hotel.

On demand movies, king size beds, high thread count sheets, thick towels, essential oil shower gels together with very competitive pricing will put a smile to our guests’ faces. I am looking forward to meeting our first guests and I invite you to experience our hospitality as well. Till the next update, take care and God Bless!

Your Friend
Andy Ong

Tuesday, April 9, 2013

Peace of mind… to appreciate life

Hi Guys. I recently finally taught my last property class. I still enjoy teaching but I have settled into a whole routine to re-invent myself. Through the whole host of issues that I am facing, I have grown closer to God. The central message that I have received is that I have put money as No. 1 priority and have relegated God to second or even third place. My personality has evolved and upon reflection, I cannot even stand myself, haha! All these will change from now on. I am very happy that many of you have sent me encouraging messages. I am heartened by the turnout of the Asian Titan Trends. 

The over 1000 guests who showed up truly made my day. The whole Career Fair also became livelier because of your presence.

I shared my perspectives on what is going on in the local and international property markets. I have unreservedly shared my analysis with you over the last few years and for all of you who just followed the trends. Well, your portfolio would have done handsomely well. It may be time to lighten up on your Singapore portfolio now. Even with the latest round of measures, property prices has held firm in the mass-market sector whereas the main victim has been high-end condos. Sales activity has trickled except for those developers who cut prices to increase their level of units sold. D’Leedon is a case in point; the developer sold quite a few more units after lowering prices.

Going forward, the situation will be interesting and one has to differentiate between genuine housing demand and speculative demand. I believe that the price momentum has hit a snag and given the increase in holding costs especially for investment property owners, demand will be much weaker. What caused the increase in holding costs? The increase in property taxes recently announced and possibly higher interest rates costs from now henceforth.

A lot of attention has switched to commercial property (which I advised you go in a couple of years ago) as well as overseas properties, especially the Iskandar area. I will share with you my concerns in my next posting. Till then, take care and God Bless.

Your Friend,
Andy Ong

Thursday, January 17, 2013

Depression in Bangkok!

I just got back from Bangkok and I was rather sad. I am working on a Bangkok IPO and things are getting very interesting over there. There is a wave of interest in investing in South East Asia and countries like Indonesia, Myanmar and Thailand are benefitting. Given their young populations and natural resources, it is no wonder that the dogs of the Asian financial crisis are now darlings of the market again.

Khao Pad Poo
I am a fan of Khao Pad Poo. Nothing fancy, just fried rice with crab meat. I walked into a coffee shop and ordered my dish, turned out to be yucky. What was interesting however, the waiter turned out to be Singaporean. Surprise, surprise. He is a youngish chap of about 30 and was selling vegetables in the former Pasir Panjang Wholesale Market. He just found it too competitive in Singapore, sold his HDB and is now waiting for his payout. He has no long term visa and is making monthly trips to Cambodia to stamp his passport. He can only take on odd jobs and is competing with the likes of the Burmese and other low cost labour.

There is a generation of Singaporeans who are not in tune with the changes of the Singapore economy. This reminded me why I studied Economics as a major in the first place. To help with any countries advancement economically! That was my lifelong ambition. I suppose I am doing my part given the hundreds of people my companies are employing in Singapore and thousands internationally.

I certainly wish my own countrymen well in this new era and hope the government can do more for this segment. However, what they can do must go in tandem with the iron will of our people. Many seem to be disillusioned and I hope all the best for them.

Your Friend,
Andy Ong

Tuesday, January 15, 2013

As predicted in November!!! More cooling measures…

Hi guys! In the last gathering at the Spring auditorium, I shared with you that more cooling measures is not a matter of if but rather when. Well, the government announced its seventh round of cooling measures. I know it is rather obvious this time around but let me gloat a bit occasionally. This time around, the measures are more draconian but many analysts are shrugging them off. I chided one of the bank’s property analysts for predicting a 15 to 20% decline in mass market home prices when the government put in its 4th round. We are in a new world order and things are a little different. Singapore is in great shape economically and our unemployment numbers are negligible.

However, this time round, I do see this round of measure do taking effect because of one crucial factor. Singaporeans will find it very difficult to finance a second property given the low loan quantum and they will also have to pay rather punitive ABSD. Prices will not come down by that much as holding power is there given the low holding costs, courtesy of low interest rates. However, I expect volumes will be impacted. When the full force of the record supply of mass market properties hit the market in 2014, things will get more interesting.

In the meantime, for those who are holding premium property will be hit most. This is because the cooling measures are structured to remove that element of demand from foreigners. They are also the pillar supporting your prime property. Given the more aggressive downsizing of international banks and other firms, less people will be interested in buying and even the rental market will be definitely impacted. And the bottom-line? We are in an era of margin compression given the lower rental and higher prices. Watch any signs of interest rate movement. Once it moves north, be careful. In fact, be very careful.

Your Friend,
Andy Ong

Thursday, January 3, 2013

China rises…don’t complain…ride the wave!

China has been growing from strength to strength, that is undeniable. Their growth in stature economically and politically has made many uncomfortable. The 1.4 billion Chinese population’s search for better lives have led them to many parts of the world. Their presence have also unsettled many countries’ citizens as they are viewed with suspicion that they are stealing jobs and causing social problems.

I was watching a movie the day before yesterday about Chen Zhen (traditional Chinese: 陳真; simplified Chinese: 陈真), a martial arts exponent who lived pre 2nd World War days. The Japanese were after the wealth of China. At that point of time, they called the Chinese the ‘Sick men of East Asia’. It was a sad point in Chinese history. After years of isolation with the mindset of superiority, they lost out. They were also sabotaged by the Western powers, who were very concerned about the balance of trade position. 

The West has nothing China wanted, whilst the West wanted Chinese tea, silk and all the other produce. So what did the West do? They sold opium, yes drugs! It weakened China to its knees. The Qing dynasty emperors ceded land after land. Even though China was on the winning side of WW1, it still had to cede QingDao (Chinese: 青岛) to the Japanese!!!!!

China is now retaking its role as a world power after years of decline. Ride the wave, ladies and gentlemen. It is not too late.

Your Friend,
Andy Ong

Wednesday, January 2, 2013

The Property Market in 2013.

Hi guys, I have been traveling the world in the past month going to 7 countries just in the month of December. Many Singaporeans do not appreciate what they have at home. Whilst Singapore is not perfect, it does have many things going for it. We complain about the most ridiculous of things, what’s wrong with announcements in Mandarin in our MRT stations? The Taiwanese has the announcements in 4 languages including Hokkien. For goodness sake, we are trying to be a cosmopolitan city, we need to have far bigger hearts and be truly international in our mindsets. Enough of that.

Our property prices have gone from highs to highs in the last few years causing many to panic that they are losing out on the bull run. The cooling measures in the residential sector have caused a potential bubble in the commercial sector. I am not complaining as the year 2012 has been a fantastic year for me till the blips I encountered at the end of the year. I have seen my equity values go up multi-fold, and the wealth that was created was nothing short of amazing. I am looking forward to my hotel opening in the first quarter of this year and I feel good great as it will be a labour of love bearing fruits.

The year 2013 will be a year of extreme caution. Please be very careful of the investment moves you are about to make as this year can make or break your financial futures. There are developers who are talking up the market so be very careful of what you are getting into. I just gave up on a deal recently as I cannot get clearance from the relevant authorities. Well, you win some, you lose some.

I am starting to look abroad more aggressively as I am a bottom feeder as I explained to you many a times. I look for value and I am finding it tough to look for bargains. I will share more in the weeks ahead.

Your Friend,
Andy Ong

Year 2013 is here and I’m back!!!

Hi guys, apologies that I have been MIA for the last few weeks.

I have been dealing with issues that been crippled my thought processes. Many apologies that I could not answer your emails, but I was really down in spirits. On reflection, it was my own doing as I was too nice to friends. If I had been my normal self, all the issues I am dealing with would not have even occurred. From now on, business is business and friends have to respect that or I will rather not do business with them.

It is a new year. I just got back from a relatively long break from Taipei and I am feeling much better. I am rested and I hope to have a change in the new year. I am going to be tough, tougher than ever before. For those of you who think I am tough, you have not seen anything yet. I have always had a soft side but now no more, no more self inflicted wounds. 


Your Friend,
Andy Ong