My beliefs and values

Every person have their own set of beliefs, a set of rules that helps them make decision and function today to day, regardless of your race, your gender, your religion and your age. If someone tells you no, I do not have any beliefs, I only believe in myself. Don't be mislead by this statement. He just told you his beliefs, his own set of rules. Let me share with you some of my beliefs.

1. Never have any business dealings with family members especially relatives. (I'd really like my reunion dinner in peace and harmony)
2. Don't eat and shit at the same place, it stinks.
3.  Make things happen, don't presume it will happen.
4. Partnership is built not only on trust but on the strength of each other.
5. When you are rich, everyone is your friend. When you are in need, your friend is everyone’s except you.
6. Treat others like how you want to be treated.
7. You only have 1 reputation, treasure it.
8. Do what you know best and leave the rest to the professionals.
9. Your employees are your tools that make money for you. Treat them well but scrap away the rust or it will corrode others.
10. There is nothing too difficult to achieve, if you can do it, I can do it better ~ probably with the right help) :P

By : Jared Ng

Paramount Assets Corporation Pte Ltd

圍魏救趙 - Property prices in Singapore

History always repeats itself, just remember this old adage.

In the 1990s, Singapore property market went through the same cycle as it is now. The market went frenzy as many plunged in blindly, speculating with their life savings. The property developers were capitalising on the greed of speculators and kept pushing the land prices up as to create the impression the prices would be on the upward trend for some time. Through this artificial price mechanism, they created the price were unlikely to drop.

These developers also benefitted from the land banks they have bought previously as the value has now appreciated. Even after the Government introduced a series of anti-speculation measures, it has insignificant impact on the property prices. Mortage interest rates are low, this allows more people to hold on to their investments.

Although the number of transactions went down, developers choose to absorb stamp duties, legal fees rather than revising the price of the property significantly downwards while continuing to put in ambitious bids for new plots of land. The developers hope by keeping the bid prices high, they can continue to prop up the prices of the property. Potential buyers might have the impression that prices were unlikely to fall. This strategy works very well for period while the game evolved into a cat and mouse game eventually. Each camp is just waiting for the other to cave in.

Does everything sounds familiar? The execution of the strategy of "besieging Wei" ( pushing the prices of new lands) to "save Zhao" (prevent downward correction of property prices) work to the advantage of developers. If you are a smart buyer, I'd suggest you run before it's too late. I really can't see how the young can afford the "affordable" housing in Singapore.

By : Jared Ng

Paramount Assets Corporation Pte Ltd