Serviced Office For Rent ( Eunos TechPark )

LAST unit : 200 Sq Ft unit

Recommended : 2-4 Pax

Price : $ 850.00
Available : 1st Jan 2010 (1 week early move-in)

To check availability, kindly visit http://www.paramountassetscorp.com/servicedoffices/whatsavailable.php

Located in the next Business Hub with prestigious address with nice unit number

Furnishing : New 4ft designer glass desk, sleek designer armchair

Individual air-conditioning system

Unlimited High speed Internet broadband 4 Mpbs Lan/Wireless

Condo facilities : 2 Tennis court, Swimming pool and a gym

Card access system
24hrs access to office
Own Entrance
Air conditioned lobby
Cargo lift and passenger lifts
Corporate image office to meet your clients

Contact us @ http://www.paramountassetscorp.com/

Wcega Tower Boutique Office Launched!

New concept boutique office space…

With Hong Kong-Manhattan styled interior.

Location : Bukit Batok Crescent

Date Available : 1st Dec 2009

Suites Available :

- 2pax Suite

- 2-3pax Suite

- 3-5pax Suite

- Price starts from $900/mth

Location :

- Next to PIE, 5mins drive to AYE

- 10-15mins bus ride from nearest Clementi MRT & Bukit Batok MRT

Rental Includes :

- Fully-furnished private office

- High-speed 4mpbs broadband

- Office phone system ready

- Meeting room & Reception area

- Secure 24/7 access

- Private own entrance

- Individual air-conditioning unit

- Electricity inclusive

- Data point ready in all suites

- Daily mail delivery to your office

- Complete pantry facilities

- Stylish restroom within office premise

Visit us now http://www.paramountassetscorp.com/

Congratulations! Paramount Assets Corporation 1st Boutique Office Launched!

We finally completed the renovation of our boutique offices on 18th Nov 2009. This is a totally different concepts of serviced office which puts many serviced offices to shame including our existing ones. Personally, I haven't seen something like this in Singapore. We have appointed people who designed ONE°15 Marina Club at Sentosa Cove to take on this project.

No details were spared in the concept, we only used the best in the renovation. We have to constantly cope with the budget expansion as we keep changing material to capture a better effect. Our designers joke that the ambience in the toilet is good for drinking champagne. Did I tell you this toilet plays music too?

Personally, I like the meeting room most. The setting is very relaxing, you shouldn't be seeing something like that before. We had used Tulip table and tulip chairs for the meeting room to get a more futuristic look.

Each room is design to achieve a Hugo boss feel, bearing in mind all that people working in here are all bosses. We used Eames chairs to achieve the sleek look.

Our guests verdict : They have never seen something like that before. It's really wonderful working here.

Our verdict : We are  really please to be able to attain more than 50% occupancy before official launch.
We are proud to house 2 Nasdaq listed company with us in this serviced office.

Visit us @ http://www.paramountassetscorp.com/ now

Food for thought! Live to regret if you miss this.

Every new kid on the block knows the basic requirement is to provide good customer service and support to your customer as the customer may have something to tell about you to the next person which may bring you more businesses.

What about people you give your business to? Often, we found that 1 deadly mistake inexperienced entrepreneur make is to abuse your supplier. You never know how you are going to benefit from what your supplier has got to say of you.

Regret Your Smart Decision

Based on a true account of an Entrepreneur.

We’ve decided to blog about this after getting his permission. We hope everyone can spend a little time to read this. All names will be changed to protect the innocent. Let’s name him Mr Boomz since this is the in-thing now. Mr Boomz is a friend of Paramount Assets Corporation, he is very kind to let us share his plight so others can learn from his mistake.

Mr Boomz was looking for an office for rent in Central Business District (CBD) in one of the more prestigious office buildings. He strike what he thought was a good deal with a private owner (or he thought is a private owner). He paid a three months deposit to secure the office space.

After 6 months into his contract, he was locked out one day of his office. What he didn’t know is this “owner” has defaulted rental for a few months and this “owner” is really just an anchor tenant.

Mr Boomz got a deal which he thought was a great deal where the rental price does not reflect the current market rate and that’s when his 3 months deposit went boomz, into thin air. This is definitely not the last story we will hear.

If you think you know how to calculate, I’m certain you don’t need a genius to tell you everyone has a calculator at the back of their mind. If you get a few quotation and find one extremely low. The first thing is not to get too excited. It may not be a good thing after all. Logically, price quotation shouldn’t differs too much. Just put yourself in the shoes of the seller. If you can know this service or product is worth $1000, would you sell it for $600? Maybe I would consider to sell it at $800, but anything lower, I will have to discount my service or products as well.

Unless you are very familiar with what you are dealing or else you will never know what’s going to happen until the last minute. For example, if I need to order 10 sets of chairs for $200 each. If I cut throat the supplier by $50 each, definitely this $50 has to come from somewhere. The supplier may need to replace the leather with synthetic leather or the aluminum alloy with metal. If I just ask for a further discount of $10 to $20 off my $200. Chances are the material and workmanship will remain the same.

Many entrepreneurs try to build up a brand for themselves by ensuring they have the right ingredients in place. By ensuring these measures are in place, more cost are involved. Logically all these additional cost will be passed down to consumers. We are paying extra for the experts to “take care’ our issues. The more “issues” the brand is able to take care of, the more prestigious it becomes.

Cheap and good seems to be something everyone likes to hear. In reality do such things exist? I really can’t tell for sure. Maybe there are some kind hearted entrepreneurs who build up a good brand to not sell their products or services at a premium. Will you?

Serviced Office In Jalan Pemimpin (Bishan)

Halcyon Building Facade

Passage Way

Office Setup (1)

Office Setup (2)

One of Paramount Assets Corporation's serviced office in Jalan Pemimpin, located near Bishan's Junction 8 shopping mall, which is 5 minutes drive to PIE. You can practically walk to Bishan's MRT if you don't mind the 1 kilometre's walk which takes about 15 minutes or you can walk to Marymount's MRT which is less than 10 minutes walk.

The renovation is pretty modest and simple, however the location make up it. In this office unit, there are 8 individual small offices. Each individual office is well furnished with 2 5ft grey desks,2 side-tables and 2 office chairs.

This is home to 8 local companies.

What we have : All Rented Out

Last unit available : 100 Sq Ft
Date available : Immediate
Recommended : 2 Pax only
Price : $XXX

To check availability, kindly visit http://www.paramountassetscorp.com/servicedoffices/whatsavailable.php

Conveniently located 1km away from Bishan MRT and less than 10 mins walk from Marymount MRT. Coffee shop located at walking distance. Very modestly furnished with a modest building façade.

• Furnishing : 5ft grey desk, side tables, office chairs
• Individual air-conditioning system
• Unlimited High speed Internet broadband 1.5 Mpbs Lan/Wireless
• 24hrs access to office
• Own Entrance
• Cargo lift and passenger lifts

Contact us @ www.ParamountAssetsCorp.com

Serviced Office in Bukit Batok

Heng Loong Building's Facade

Designer style meeting room

Office setup (1)

Office setup (2)

Passage way

One of Paramount Assets Corporation's serviced office in Bukit Batok, located in Bukit Batok Crescent which is 5 minutes drive to AYE & PIE. If you are taking Bus 189, it is located 5 bus stops away from Clementi MRT and 6 bus stops away from Bukit Batok MRT.

Our offices are located at the top level of the building where our clients has access to a open roof top for relaxation. In this office unit, there are 12 individual small offices with 1 meeting room. Each individual office is well furnished with Hi-high leather chairs, cherry wood office desks and cabinet.

This is home to 12 different companies. We have a good international tenant mix here with 50% local entrepreneurs, the rest from UK, Japan, Australia, U.S.A and Malaysia.

What we have :
Last unit available : Approx. 180 Sq Ft Window unit
Recommended : 2-3 Pax
Price : $750
Available : 1st Jan 2010
To check availability, kindly visit http://www.paramountassetscorp.com/servicedoffices/whatsavailable.php

Ideal for small businesses and start ups. 4 canteens within walking distance, 8mins bus ride (189) from Clementi MRT or Bukit Batok Mrt. The Office has a open roof top for relaxation.

• Furnishing : 5ft rosewood desk, Sleek Hi-back leather armchair, rosewood cabinet
• Individual air-conditioning system
• Unlimited High speed Internet broadband 1.5 Mpbs Lan/Wireless
• Meeting room
• Card access system for security
• 24hrs access to office
• Own Private Entrance
• Cargo lift and passenger lifts
• Corporate image office to meet your clients

Contact us @ www.ParamountAssetsCorp.com

What's in for X'mas? (All current tenants must read)

It's gonna be Christmas time in about 2 months time. Every year, this is a big headache for us as we will need to crack our brains over how to show our appreciation to our current tenants.

We didn't want to give something for the sake of giving. The same was reflected in our company values, we do not value-add in a way that is convenient to us.

After gruesome rounds of brain-storming, we still didn't have any ideas. Not until my laptop was send for repair, had a casual talk with the vendor. It was love at first sight. He was kind to recommend this very sophisticated looking, Sony Vaio mouse as a X'mas gift.

The recommended retail price is SGD$89.00. It sounds pretty reasonable for this little piece of Art. We placed an order of 80 sets of this particular model and assorted colors. The next best thing is Sony doesn't give discount for bulk purchases. We know everyone will be curious to find out how much this little mouse cost, might as well let the cat out of the bag.

Sony Vaio Mouse - $89.00
The joy on our tenant's face - Priceless!

A warm welcome to all Entrepreneurs

An entrepreneur is someone who assumes significant accountability for the inherent risks and the outcome. An entrepreneur is also someone who observes his/her own conduct and possess leadership, management ability, and team-building as essential qualities.
Let us welcome you to our big family of entrepreneurs. Being entrepreneurs ourselves, we understand the adversity of entrepreneurs. The path taken by many entrepreneurs is an extremely challenging one. In sync with our comprehensive business solutions, we assist you to fulfill your dedications to your clients and seize opportunities that arise in the face of adversity.

Lastly, on behalf of Paramount Assets Corporation, We’d like to express our appreciation for giving us the chance to make your life a little easier. We also take this chance to wish you the very best in your endeavor.

Let your journey begin ..................

Why Paramount Assets Corporation was founded?

Paramount Assets Corporation was officially incorporated back in 2007. It’s not so official presence was backdated to 2005.

Looking back, in 2004 when we were looking for small office to rent. The proprietors are charging exorbitant rental, the furnishing was sub-standard or the location is not appropriate for office use. Some offices don’t come with Internet broadband and some are really dirty. Some of proprietors rented out their partial office to fully utilize their unused space and to gain some income. Especially proprietors are business owners and invested into office properties for capital appreciation are often mismanaged as they often do not have the capacity to manage it well or they can’t be bothered. Often than not, most of them took several days to response to our feedbacks. This is what we didn’t like.

So I thought I can do a much better job and started sourcing for a commercial property to purchase. Some sellers didn’t want to entertain me due to my age. What I was thinking at that time, how could you judge a person based on his age? After many tries, I found something I like and the agent is willing to serve me.

I still remember the whole process didn’t take more than 5 minutes for me to consider. The seller was the one in dilemma, deliberately delaying my time in a bid to find another buyer who is willing to pay his asking price. Finally the seller agreed to my asking price, not without asking me to foot the bill for his lawyer.

Finally, we inaugurate our presence in office leasing in 2006 and responses were pretty encouraging. Today, we have owned 2 properties with another 2 joining our strength soon and another under our management.

How our properties are managed?

We are pretty selective about who rents our office. If anyone came with a mindset that as long as I have the money, we should rent you a place, you may be go away disappointed.

To safeguard the interest of our current tenants, we have to be very selective in who rents our offices. Like many businesses, we are in dilemma turning away money and lose a deal forever or get a signature on the dotted line and bag the deal. It’s a battle within us. Profits are very important to any organizations however safeguarding the interest of our tenants is more important.

Our currents tenants have placed their trust in us by renting our offices; there is no concession to misplace this trust they had in us. That is also the main reason why we enjoy great success during the economical down time. In fact, we have to keep expanding to keep up with the demands.

We couldn’t afford anyone who is in shady business to be part of our big family. I always like to liken the concept of a kampong (village) to our serviced office. We are working in the same place as a community. We have to respect each other’s work place.

Free basic accounting software for Entreprenuers

Most new start-ups are a little tight on their budgets. We recognize the need of having proper book keeping, regardless of its size, its turnover.

Advantages of having a proper book keeping system:

• Enable you to verify any payments or receipts should any error occurs
• Banks will need proper financial statements to grant you any loan
• When the Taxman knocks on your door, it is mandatory to keep proper records
• For analysis of company’s health for expansion or cost management
  

The differences between our Book keeping services and DIY is you have someone to:

• Double check every entry, making sure every entry is true and accurate
• Keep proper records of your accounts
• Deal with the Taxman when the needs arises
• Advising on tax management and capitalizing on eligible tax reliefs, deductions thus reducing tax liabilities

Please CLICK HERE to get your free accounting software now or refer to our website www.paramountassetscorp.com/corpservices/accounting.php for more information on accounting services.

Types of Companies in Singapore and their charactistics

To officially start a business, you need to register with Accounting and Company Regulation Authority (ACRA).

There are essentially 4 kinds of registrations namely

• Sole-proprietorship
• Company (Private Limited)
• Partnership limited liability (LLP)
• Limited Partnership (LP)
  

Characteristics of a sole-proprietor/Partnership

A business can be a sole-proprietorship or a partnership and you can limit to 20 partners. The business is owned by 1 person in sole-proprietorship or 2 to 20 persons in partnership. Sole proprietor/Partnership is subject to personal income tax from the business profits.

Pros of registering as a business (Sole-proprietorship or Partnership)

• Easy and relatively cheap way to start a business
• $65 for registration and $20 renewal annually
• Lesser compliance matters and requirements

Cons of registering as a business (Sole-proprietorship or Partnership)

•  Full liability (Your personal assets is not safe from debtors)
• The perception of your business operation may be relatively small scale

Requirements to register a sole-proprietorship/Partnership

• Legal age of 18 and not a bankrupt
• A business name (Some names take longer to get approval, seek professional advice if you need help)
• A business address (Can be your residential address or need to seek approval from HDB if you are residing in a HDB apartment (Not advisable as you don’t want people to visit your house for all kinds of reasons) or get a virtual office package which includes a registered business address)
• Start up capital

(For printing of name cards, website and email hosting, printing of invoices, virtual office cost/rental and other miscellaneous cost that may be involve in your business)

Characteristics of A Company (Private limited)

A company is a business entity registered under the Companies Act, Chapter 50. It can have a number of shareholders limited to 50. It is a legal entity of its own meaning it has rights to own properties, it has perpetual succession and it can sue or be sued in its own name. It usually has the words 'Pte Ltd'.

Pros of Registering Company

• Has limited liabilities as company and shareholders are different entities (unless the directors sign personal guarantees)
• Able to employ employees
• Enjoy tax exemption for corporate tax of up to SGD$100,000 profit for its first 3 years of incorporation
• The perception of your business operation is bigger than a sole-proprietorship

Cons of Registering Company

• Costly to register($315) and yearly accounting and submission fees
• Many compliances and requirements
• Every company must appoint a secretary within 6 months of the date of incorporation
• Every company needs to strike off by application if it is believe that the company is not carrying on business and the company is able to satisfy the criteria for striking off and it takes about 5 months.
• Obligations to conduct and submission of Annual General Meeting (AGM)

Requirements to register A Company

• A company must have at least one director who is a “ordinarily resident in Singapore” i.e. Singaporean Citizen, Singaporean Permanent Resident, or a person who has been issued an Entrepass/Approval-In-Principle letter/Dependant Pass
• A business name (Some names take longer to get approval, seek professional advice if you need help) (Usually a professional corporate secretary can advise you on this)
• A business address (Can be your residential address or need to seek approval from HDB if you are residing in a HDB apartment (Not advisable as you don’t want people to visit your house for all kinds of reasons) or get a virtual office package which includes a registered business address)
• A professional corporate secretary to do your filings and compliances with ACRA. (Please refrain from doing it yourself if you do not have the experience)
• Start up capital

(For printing of name cards, website and email hosting, printing of invoices, virtual office cost/rental and other miscellaneous cost that may be involve in your business)

Characteristics of Limited Liability Partnership

• A Limited Liability Partnership (LLP) gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company. A LLP is seen separate entities from its owners. The LLP has perpetual succession, which means any change in the partners of a LLP will not affect its existence, rights or liabilities.

Pros of registering a Limited Partnership

• Has limited liabilities as owners and corporate body are 2 different entities (Unless owners sign personal guarantees)Will not be held personally liable for such wrongful acts or omissions of any other partner of the LLP
•  Relatively cheap to register as a Limited Liabilities Partnership ($165)
•  Has the flexibility of a sole-proprietorship yet has limited liabilities (Not as many compliances and requirements as a private limited company)

Cons of registering a Limited Liabilities Partnership

• Obviously you need at least 1 partner before you can register this (Sometimes it can be quite a pain to find the right partner)
• A partner may, however, be held personally liable for claims from losses resulting from his own wrongful act
• A LLP have to apply to ACRA to strike its name off the register pursuant to Section 38 of the LLP Act. ACRA may approve the application if there is reasonable cause to believe that the LLP is not carrying on business and the LLP is able to satisfy the criteria for striking off.
• The perception of your business operation may be relatively small scale

For more information or assistance in formation of a company, please refer to www.paramountassetscorp.com/corpservices/incorp.php

Documents require for proper book-keeping

GOOD ACCOUNTING PRACTICE

We realize most of the new start-ups have little knowledge of good book-keeping practice. Good accounting practice is beneficial to all businesses as it is a statement that gives insights of a business’s health. It is also mandatory that a business adopts proper accounting standards for annual reporting to the Inland Revenue Authority of Singapore (IRAS) for tax assessments.

We will share with you a systematic approach to adopt a proper book-keeping practice.

• Sales invoices in running sequence with mode of payment
• Sales Credit Notes & Debit Notes
• List of Trade Debtors in Aging format
• Payment Vouchers describing the nature of payments in running sequence
• Bank-in Slips and Cash Receipts describing the nature of receipts in running sequence
• Cheque butts stating clearly the cheques’ payees date, amount paid and nature of payments
• A complete records of payment vouchers for all of cheque payments
• Monthly bank statements
• Stock lists as at the current financial year 

If you need more comprehensive services, kindly visit us @ www.paramountassetscorp.com/corpservices/accounting.php to find out more how we can assist you in your business endeavors.