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