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Same old same old.

Wish all my loved ones good health.

Flattened

I once heard the saying that in Singapore, if you buy a HDB flat, you’ll never own the flat. I’m beginning to feel it more and more.

What essentially happens is you pay a rather high rental (about S$300k for a 4-room in the outskirts, S$450k for a 4-room in good locations) and you get to stay there until the 99-year lease expires and the higher authorities decide that the land has a higher calling.

So what happens next? Well, the authorities will offer to relocate your family at a subsidized market rate. In other words, you get a new place and continue a new leash of rental (At below market rate! Esp important when the market is inflated.). Nice.

The HDB is the platform of the higher authority. It aims to provide affordable quality homes, ensure vibrant towns and focus on the community. However, it cannot be lost on the citizens that the recent spate of housing control measures came out pretty near elections timing. Also, what happened to this:

“In 1964, the government introduced the Home Ownership for the People Scheme to give citizens an immovable asset in the country, a means of financial security and a hedge against inflation.”

We certainly don’t own homes any more. We merely occupy (Yes, that’s why there’s the Minimum Occupation Period.) the space for a maximum of 99 years and govt-willing, until the land is redeveloped and re-redeveloped. And re-re-re.

I’m just ranting I guess.

Please show me a get-rich-quick scheme with no risk. Please.

Negative FSL Trust

Keeping the following links for reference. The recent saga about the arrest of 2 ships under FSL Trust followed by the court writ had led to several relooks at the business structure of FSL Trust. The below 2 links show why the business structure and dividend payout guidance of FSL Trust is unsustainable in the long term. Real cause for concern so fellow vested peops, might be wise to divest taking TA as guidance.

FSL Trust: Where to from here?

Divestment of FSL Trust

I’m a non-business-y person so I’m really poor at understanding business structures and all. People like me tend to adopt a herd mentality – many people say good leh, must be good lah. As I grow older, I realised that many things that are important to survival in society are simply not taught in school – basic law, basic business dealings, to name 2.

Back to FSL Trust. My question really is, if the business model is so unsustainable and the cashflow so unpredictable, what is the Trust manager gonna do about it? Would you let the business you are managing sink? Won’t it really highlight your resume when you apply for subsequent positions in an unforgiving corporate market?

Perhaps I have some misplaced faith somewhere. Learn from others’ mistakes, especially since I really don’t know much about business and finance. So I shall keep a close watch and divest as well – of course, when the right time comes. Not necessarily the right-est time, but the right one. =)

On a side note, here’s another article to share.

Missing some friends

Was remembering 4 particular wake up calls back in uni days.

The first one had me waking up laughing.
Me: “Hello?” (sounding zzz)
Fren1: “太陽公公起床了,公雞翁翁把我們叫.”
Me: “HAHAHAHAHA!”

The second and third ones are a combi.
Me: “Hello?” (sounding zzz)
Fren2: “Hahaha you sound so blur!” (to that effect)
Me: “… Duh, i’m just waking up what…” -_-

Me:”Hello?” (sounding awake)
Fren2: “Huh…” (sounding zzz)
Me: “Hahaha!”

The fourth one sounded similar to the third one, by a third friend.

I miss my friends. :) Hope you are all doing well!

FSL Trust: done with accumulation, i hope

I think i’m done with the accumulation of FSL trust. Bought more 4 more lots at 0.415 the day before the Q2 report was released. US 0.95c dividend per share, way lower than before but pretty much expected. Interestingly, despite this lower dividend announcement, the share hasn’t seen much selling interest. Volume has remained pretty low too. Could partly be due to the already near-historic low prices. Not worth selling. Haha.

Well, unless the price falls back to the lower tier support of 0.37-0.38, I’m pretty much done with FSL. Just keep giving me the dividends please! :)