Are you ready for 7 million people on tiny Singapore?
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Its a good sign that if you have more foreign income.Because it help you to improve your living standard and also good for the economy of a country.If you are using that money in best way..
http://www.employmenttoolkits.com.au/pages/about-us.php -
Brycen:
Its a good sign that if you have more foreign income.Because it help you to improve your living standard and also good for the economy of a country.If you are using that money in best way..
Theoretically, yes. -
Aren't we seeing similarities? Listing GLCs such as SMRT & Comfort & we see endless pursuit of profit focus only. What can we expect from Mapletree, CCT, CMT, KepREITs etc?
Dora1:
Yes, of course I am aware that SG has been hiring FWs for the longest time. What I am saying is that the gov is tightening the FW quota, increasing levy etc to push Companies to hire SCs, which theoretically is a good move. However, other operating costs such as rental and transport (COE, ERP, etc) has been increasing dramatically at the other end. And at the same time, the global economy is down, so the SMEs cannot increase their prices to stay competitive. So the SMEs cannot afford to pay more to attract SCs to join them, and yet at the same time they can't employ FWs. So they are squeezed on both ends.
You must be seriously joking lah. Where got get forced to hire FW one. Singapore manufacturers have been hiring FWs since 30 years ago! There are professional firms all over the place helping you to recruit them, Chinese, Indians, etc. Just tell them your quota. If your fren tell you never hire FW until recently, I would also like some of what he is smoking. FW are hired simply because they are cheaper and more hardworking than Singaporeans at the same price point, period. Remember we use to have many garment factories...Irrelevant:
[quote=\"Dora1\"]Depends on what type of co. Some SME only have less than 30 pax, the rental cost can be the same as the manpower cost, esp if they need big space for machines etc.
if u look at my previous posts, I am against indiscriminately hiring foreigners. However I am also aware that a lot of SMEs are \"forced\" to hire cheap FW because of other rising cost such as rental and even COE. So dun only focus on cheap manpower, lower business cost for SMEs as well.
As for rental = labour cost, have you seen hard numbers before or not? Rental for factory is $20 per sq metre per month, give or take. If a company has 25 employees with average pay of $2,500 (including bonus, cpf, insurance, etc), total wage cost is $62,500 per month. To spend that much on rental, factory size would be like in excess of 33,000 square feet! And probably there are at lease 2 shifts working since there are BIG machines? So 12 ppl in 33,000 sqft? You can't get that kind of space ratio even in Malaysia, except maybe a logistics warehouse
So essentially what I am saying is, if they want the tightening FW policy to work, which is for companies to hire more SCs, then the gov should also watch the other operating costs. JTC selling the flatted factories to Mapletree, which sells REITs and shares and all, is encouraging inflated rentals, as Mapletree is listed and therefore their goal is to ensure that the shareholders get a good profit. The result is increased rental of >50% in the last few years.[/quote] -
'Below market rate' compared to what market rate? compared to London? Tokyo? Hong Kong? New York or compared to prime area in Singapore? :scratchhead:
If compared to neighboring areas, they can only manage to rent out at 'below market' rate, then they didn't manage them well lo. It's only them-self to blame! It's a supply and demand after all. -
Moonsun55:
[/quote]If not endless pursuit of profit focus, then CEO how to get multimillion dollars of yearly pay le. So, everyone follows the suit and takes all they could to make the balance sheet looks good, then can justify multimillion dollars pay. ex-SMRT CEO got multimillion dollars in 2011 thou the trains were already not reliable and already people complaint aloud. (Still got well compensated wor even though she didn't manage the trains well and situation well but overall the balance sheet still showing good profits) :evil:Aren't we seeing similarities? Listing GLCs such as SMRT & Comfort & we see endless pursuit of profit focus only. What can we expect from Mapletree, CCT, CMT, KepREITs etc?
Yes, of course I am aware that SG has been hiring FWs for the longest time. What I am saying is that the gov is tightening the FW quota, increasing levy etc to push Companies to hire SCs, which theoretically is a good move. However, other operating costs such as rental and transport (COE, ERP, etc) has been increasing dramatically at the other end. And at the same time, the global economy is down, so the SMEs cannot increase their prices to stay competitive. So the SMEs cannot afford to pay more to attract SCs to join them, and yet at the same time they can't employ FWs. So they are squeezed on both ends.Dora1:
[quote=\"Irrelevant\"]You must be seriously joking lah. Where got get forced to hire FW one. Singapore manufacturers have been hiring FWs since 30 years ago! There are professional firms all over the place helping you to recruit them, Chinese, Indians, etc. Just tell them your quota. If your fren tell you never hire FW until recently, I would also like some of what he is smoking. FW are hired simply because they are cheaper and more hardworking than Singaporeans at the same price point, period. Remember we use to have many garment factories...
As for rental = labour cost, have you seen hard numbers before or not? Rental for factory is $20 per sq metre per month, give or take. If a company has 25 employees with average pay of $2,500 (including bonus, cpf, insurance, etc), total wage cost is $62,500 per month. To spend that much on rental, factory size would be like in excess of 33,000 square feet! And probably there are at lease 2 shifts working since there are BIG machines? So 12 ppl in 33,000 sqft? You can't get that kind of space ratio even in Malaysia, except maybe a logistics warehouse
So essentially what I am saying is, if they want the tightening FW policy to work, which is for companies to hire more SCs, then the gov should also watch the other operating costs. JTC selling the flatted factories to Mapletree, which sells REITs and shares and all, is encouraging inflated rentals, as Mapletree is listed and therefore their goal is to ensure that the shareholders get a good profit. The result is increased rental of >50% in the last few years. -
Dora1:
Depends on what type of co. Some SME only have less than 30 pax, the rental cost can be the same as the manpower cost, esp if they need big space for machines etc.
Wah.... so chum hor... If they are in mfg industry, for every Singaporean/PR, they can hire 1.5 FW. Even with such a high ratio also cannot survive, so how ah? We might as well let them hire 100% FW to survive lor. One other thing, rental cost is normally only 10-15% of a company's overheads, whereas manpower cost is easily 30%.... :evil:Irrelevant:
[quote=\"Dora1\"]
I personally know of some SMEs operating out of JTC flatted factories. But once the same building is now managed by Maple trees the rent has been increased dramatically, some >50% within a couple years. I know of a few that have to hire FWs because they cant afford to pay SC wages because of the increased rental. And with the new FW quota and levy, a couple of called it quits. And besides private companies, who else is driving up business cost?
if u look at my previous posts, I am against indiscriminately hiring foreigners. However I am also aware that a lot of SMEs are \"forced\" to hire cheap FW because of other rising cost such as rental and even COE. So dun only focus on cheap manpower, lower business cost for SMEs as well.[/quote] :goodpost:
Dora1, sounds like you are in business. -
Dora1:
Yes, of course I am aware that SG has been hiring FWs for the longest time. What I am saying is that the gov is tightening the FW quota, increasing levy etc to push Companies to hire SCs, which theoretically is a good move. However, other operating costs such as rental and transport (COE, ERP, etc) has been increasing dramatically at the other end. And at the same time, the global economy is down, so the SMEs cannot increase their prices to stay competitive. So the SMEs cannot afford to pay more to attract SCs to join them, and yet at the same time they can't employ FWs. So they are squeezed on both ends.
You must be seriously joking lah. Where got get forced to hire FW one. Singapore manufacturers have been hiring FWs since 30 years ago! There are professional firms all over the place helping you to recruit them, Chinese, Indians, etc. Just tell them your quota. If your fren tell you never hire FW until recently, I would also like some of what he is smoking. FW are hired simply because they are cheaper and more hardworking than Singaporeans at the same price point, period. Remember we use to have many garment factories...Irrelevant:
[quote=\"Dora1\"]
Depends on what type of co. Some SME only have less than 30 pax, the rental cost can be the same as the manpower cost, esp if they need big space for machines etc.
if u look at my previous posts, I am against indiscriminately hiring foreigners. However I am also aware that a lot of SMEs are \"forced\" to hire cheap FW because of other rising cost such as rental and even COE. So dun only focus on cheap manpower, lower business cost for SMEs as well.
As for rental = labour cost, have you seen hard numbers before or not? Rental for factory is $20 per sq metre per month, give or take. If a company has 25 employees with average pay of $2,500 (including bonus, cpf, insurance, etc), total wage cost is $62,500 per month. To spend that much on rental, factory size would be like in excess of 33,000 square feet! And probably there are at lease 2 shifts working since there are BIG machines? So 12 ppl in 33,000 sqft? You can't get that kind of space ratio even in Malaysia, except maybe a logistics warehouse
So essentially what I am saying is, if they want the tightening FW policy to work, which is for companies to hire more SCs, then the gov should also watch the other operating costs. JTC selling the flatted factories to Mapletree, which sells REITs and shares and all, is encouraging inflated rentals, as Mapletree is listed and therefore their goal is to ensure that the shareholders get a good profit. The result is increased rental of >50% in the last few years.[/quote] :goodpost: I shared the same opinion! -
Some folks like to go on and on about an alleged 50% increase in rental within a couple of years, without even offering a shred of evidence. Since I've got a bit of time, I went to read Ascendas REIT report and dig out the following data. I chose Ascendas because it has been listed for the longest period of time. I am only extracting the data for flatted factories / light industrial buildings as they are normally the cheapest.
Property
TECHplace I 10.1 m 11.0 m
12 Woodlands Loop 3.2 m 2.8 m
18 Woodlands Loop 1.1 m 1.2 m
Volex Bldg 1.1 m 1.3 m
Steel Industries 1.7 m 1.0 m
1st number refers to annual income for FY ending 31 Mar 2007
2nd number refers to annual income for FY ending 31 Mar 2011
Forumners can draw their own conclusions. -
Irrelevant:
Finally we have numbers... :salute:Some folks like to go on and on about an alleged 50% increase in rental within a couple of years, without even offering a shred of evidence. Since I've got a bit of time, I went to read Ascendas REIT report and dig out the following data. I chose Ascendas because it has been listed for the longest period of time. I am only extracting the data for flatted factories / light industrial buildings as they are normally the cheapest.
Property
TECHplace I 10.1 m 11.0 m
12 Woodlands Loop 3.2 m 2.8 m
18 Woodlands Loop 1.1 m 1.2 m
Volex Bldg 1.1 m 1.3 m
Steel Industries 1.7 m 1.0 m
1st number refers to annual income for FY ending 31 Mar 2007
2nd number refers to annual income for FY ending 31 Mar 2011
Forumners can draw their own conclusions.
And they speak eloquently.
It had become the standard on internet to use rhetoric as fact . Ironic considering that Internet has really made information is just a few clicks away. Still no one wants to look at data, probably since it will prove them wrong.
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Sun_2010:
:goodpost: :goodpost:
Finally we have numbers... :salute:Irrelevant:
Some folks like to go on and on about an alleged 50% increase in rental within a couple of years, without even offering a shred of evidence. Since I've got a bit of time, I went to read Ascendas REIT report and dig out the following data. I chose Ascendas because it has been listed for the longest period of time. I am only extracting the data for flatted factories / light industrial buildings as they are normally the cheapest.
Property
TECHplace I 10.1 m 11.0 m
12 Woodlands Loop 3.2 m 2.8 m
18 Woodlands Loop 1.1 m 1.2 m
Volex Bldg 1.1 m 1.3 m
Steel Industries 1.7 m 1.0 m
1st number refers to annual income for FY ending 31 Mar 2007
2nd number refers to annual income for FY ending 31 Mar 2011
Forumners can draw their own conclusions.
And they speak eloquently.
It had become the standard on internet to use rhetoric as fact . Ironic considering that Internet has really made information is just a few clicks away. Still no one wants to look at data, probably since it will prove them wrong.
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