Paramount Assets Corporation

My beliefs and values

2012-01-16T01:01:00.009+08:00

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.

Never have any business dealings with family members especially relatives. (I'd really like my reunion dinner in peace and harmony)
Don't eat and shit at the same place, it stinks.
Make things happen, don't presume it will happen.
Partnership is built not only on trust but on the strength of each other.
When you are rich, everyone is your friend. When you are in need, your friend is everyone’s except you.
Treat others like how you want to be treated.
You only have 1 reputation, treasure it.
Do what you know best and leave the rest to the professionals.
Your employees are your tools that make money for you. Treat them well but scrap away the rust or it will corrode others.
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

2012-01-02T21:40:00.006+08:00

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

How do I improve my life?

2011-12-08T02:41:00.001+08:00

Alot of my people ask me how do I improve my life or how can they improve their life? Regardless in which aspect do you desire to improve in, the answer is very simple.

To improve your life, you've got to be better than yesterday. Each day, I just have to be better than yesterday. By the end of the week, you have already improved your life.

The emotions of a young landlord

2011-11-30T20:01:00.006+08:00

End of this year marks the 6th year of me being a landlord though it surely feels longer than that. I've been landlord to retailers, fish hobbyists, business owners and home seekers. 6 years being a landlord, frankly, tough is the word to describe. I encounter many kinds of people. Some are very nice, some are not so nice and some are a disaster. Almost everyday, I have got to solved many issues for a lot of people. Issues is just a nice word to disguise problem. Some personal problems, some work-related problems, sometimes it's not my problem, sometimes they are the problem and of course sometimes, I am the problem. All these problems, I can either go fix it or learn how to fix it. I have become a problem solver as days goes by. Now, do you still think my job is easy? It's an interesting job but it's not an easy job and apart from these, there is something else I have to deal with which I dislike.

3 days ago, I welcome 2 new nice tenants in my office but I also have to bid 2 exchange students farewell in the evening. Although the interaction with the students are very minimal but I still can’t help but to feel a tinge of sadness when I was bidding them farewell and wish them a pleasant trip back to their home country in Sweden. I probably will not see them ever again and they probably didn't make an impact in my life.

I have to handle some complains from their housemates but I understand they are young. They just a little messy and always didn't clean up after their meals. Other than that, they are very nice young ladies. When I was at their age, I have a pretty much messed-up house. I have to practically walk through my stuffs to reach my room. It’s wasn’t easy to get to my room. Guess what? It didn't help when you are staying alone; But at least there is no one to nag at you. When you grow older, you become very particular about cleanliness. You want a clean and tidy house to live in and you don’t want visitors like ants and roaches. I guess everyone pretty much went through the same process of growing up.

I've always try to refrain myself from getting too close to the tenants so that I'll have lesser heartache when they leave. Being a landlord is like a train, passengers come onboard, they reached their destination, they will have to alight and new passengers will come onboard. It's part and parcel of my work, my life. I never like to say goodbye to a tenant especially those nice ones. Many times, I’ve to defy my inner thoughts to bid them goodbye and wish them well and as well as to hide away my sadness.

6 years ago, I thought I was too green, too emotional and I thought I will grow out of it. 6 years later, it's just me. :)

Virtual Office Solutions (Singapore)

2010-07-30T12:22:00.009+08:00

We have finally re-launched our VIRTUAL OFFICE solutions in Singapore giving you more reasons to sign up with us. Our objective is to create more value for our clients. At Paramount Assets Corporation, we don't tell you we are the best. What we do is to indetify the problems and give you solutions to it.

Reasons for choosing us....

Not all businesses are suitable to have a Central Business District (CBD) registered address; in the bid to enhance the image of your business, it may totally backfire on you.

We have noticed most if not all of the virtual offices’ addresses are exposed. It is so easily available online simply by typing the address on search engines which can hurt your business image. We do not expose any of our business registered address.

Our virtual offices are currently located in Bukit Batok and we are expanding more for you to choose from. Each of our virtual office business address has a quota to limit the number of registrants who can use our address as the last thing we want is to have the whole street of business owners exchanging name cards having the same business address.

We do not open any of our client’s letters or parcels to preserve the integrity of its contents while we have the experience to eliminate most if not all the advertisements send to you so you don't get junk mails. Mails forwarding are done on the same day we received it and a notification is send to keep you informed.

With our low-cost mail transfer service, you never have to worry where our offices are located. Our clients love it as it’s cheaper than a bus ride and they capitalize on it to save time, money and hassle.

Our clients can have a peace of mind signing up our packages. For any reasons, you have 7 days to change your mind; however we will ask for the reason because we care.

To cater to different business needs, we specially designed 4 different virtual office packages. We also have a series of comprehensive in-house corporate solutions that is fundamental to all businesses at fabulous prices to enhance your competitiveness.

Last but not least, the extravagant furnishing of our offices tells you we are very serious in our business. We put our money where our mouth is. We own every property that is listed on our website and you never have to worry if we will be asked to move and affect your business operation. Even if you have a change of business address within our virtual offices, we can still do an internal mail transfer for you. Your mails will never go missing just because you change your business address.

Do you really need another reason ?

www.ParamountAssetsCorp.com

What about BRANDING?

2010-04-22T19:55:00.004+08:00

If you believe driving a Mercedes will bring you prestige, you believe in branding.

Entrepreneurs must realise the importance of Branding and work towards building a brand, a brand that brings you pride and glory. It is not only a company growth, it is your personal growth as now you will be able to visualise from a broader perspective.
We classify businesses into 3 major group below.

Start-up company:

Usually the reason given is they have limited resources and they are not willing to spend on an intangible asset. There are some people who believe in making themselves to look presentable but refuse to believe that their company has the same needs.

Traditional Businessman

Branding is not a popular option for traditional businessman. These are the people generally believes in building their businesses by

• Competitive pricing and personal services

• Establishing long working relationship

• Entertaining clients

It is difficult to pass on your successor for the obvious reason. Your clients may be replaced if they are employees. Their successors may have other ideas. There are just too many reasons to get your replaced.

MNCs or Larger SMEs

Generally, these are the companies who are willing to allocate a portion of their resources on branding as they feel this is to differentiate them from the rest. They didn't stop growing and branding themselves to capture a bigger market share. That is the reason today, they are MNCs and larger SMEs.

In a free market, no products or services are exclusively for any proprietor. Anyone can find a replacement product or sell the same service as you do. How do you stand out from the rest of the thousands of proprietors who are selling the same product or service?

More commonly than common, price war is imminent. You just have to imagine during a bidding session, so many hands raising to outbid the other party to offer a lower price. Next will be a series of cost cutting approach as to balance up the deficit in the lower profit margin. Everyone knows this but not everyone UNDERSTANDS how to apply it effectively. If a cost cutting strategy affects the quality of the services or products, this is no different from suicide.

Having a price war has an adverse effect in the long run. In the situation when operational cost increased, raw material cost increased (These are constantly increasing), maintaining the business will be more challenging as profit margins are even lower. A low margin profit will post a higher risk for businss owners as there are very little rooms for set backs. If cost cutting is not a fessible option, then BRANDING is the answer to it.

I would relate BRANDING as dressing up. We all know we need to dress up appropriately to project the right image. We use certain products to make us stand out from the rest, to make us more superior than the rest. If we drive a Mercedes, speak good english, we are percieved as the richer and more educated group. If we dress up as a factory worker, we are percieved as a factory worker. I certainly have no intention to put anyone down but this is all human perception. For all we know, he may be a millionaire in disguise but when human perception is at work, you can't really think straight.

BRANDING is dressing up the company. It is a form of indentification, a form of differeniation. In short, Branding is what makes you, You! It separates you from the crowd and makes you stand out. It defines the distinctiveness of your services and products. It is how you are percieved by others.

When shopping for a pair of Jeans, you may hear your friends saying, you can't go wrong with Levis. They have been consistent in the quality of their products, designs, creativity and aftersales service to be the market leader. This is strongly percieved in the minds of the consumers. This is the kind of message you want your BRAND sends to all your customers. It makes fall in love with it, it makes you think you MUST have it and lastly, it makes you pay a premium for it.

For these reasons you need to protect your newfound identity by making sure you are consistent in what you produce, there is no glitch in your service level, communication, emails, phone call, client's visit, an event or an experience with your company( there are so many more examples). Training and educating your employees, your business partner (especially those who outsource some parts of their operation to other proprietors) is important. Everyone relating to your company is equally important as your customer do not differeriate you as a receptionist, a director, a product or services. A receptionist is as important as a director. They look at you as a whole. It is exactly like how men evaluate the opposite sex. They don't just evaluate a lady is pretty by just looking at just the mouth, nose or eyes. The same goes to the ladies because we are all human.

Branding not only comprises of how you handle your clients/consumers, on a broader spectrum, you should also consider how you behave towards a supplier. It's naive to think that because you can get away abusing your suppliers simply because you are giving them business. It's just irrational to create a "I am good guy image" and on the other hand you turn into a psychotic monster.

Branding is huge because it is more than a logo, products or services, it encompasses so many areas. It takes a lot of effort, a lot of time to build a brand. A brand is an unspoken guarantee, an assurance of its quality, services and it's commitment to the community, to it's users. Once you have build a brand, it is more challenging to be replaced by other companies. Without one, you just like any other Tom, Dick or Harry. You have an identity but just that nobody knows you.

This reminds me of a story.....
A thief wanted to break into a house, he is afraid of waking up the occupants in the house. After thinking really hard, he stuff cotton bud on each side of his ears. Smiling to himself for this smart idea, he broke into the house believing if he couldn't hear a sound, the occupants won't be able to hear him too. What happens to him? No prize for the right answer. A fool believes in what he wants to believe in.

It is foolish to believe the consumers may think otherwise when Branding has been a proven success. If you haven't start branding your company. It is high time you spend some time to think about it. Consumers are getting smarter and smarter, all thanks to Education and the poliferation of Internet.

Pampering Your Company

2010-04-18T22:57:00.010+08:00

Some people will take a long time to learn this, some misunderstood it.
Some know it, some refuse to acknowledge. Not acknowledging it doesn’t mean it doesn’t exist………

Read on to understand the misunderstood..................'

My business doesn’t need image, it’s too small is the most common rationale which really baffle us. We always thought precisely the market is not familiar with your company that is why you need to enhance your company’s image to give your prospective client the confidence.

Things you think you do not need

• A proper company logo (that reflects your business)

• A proper business email and domain (~~Ahbeng@Yahoo.com.sg~~)

• A good quality and well designed business card ( This reflect your company's image, especially those who do not know you personally but has your business card)

• A proper business address ( You probably think an air-condition servicing firm will looks good with a CBD address or a home address will suit your business needs for those operating from home)

• A proper business website (We have seen too many company with template website, don't do something for the sake of doing. If you don't think other company's template website look good, that's what others think of your template website too.)

• A proper work place ( If you are going to work in there at least 8 hrs a day, make sure the work place brings you positive energy and stick with those with proper office management, it saves you a lot of trouble when things starts to go wrong)

• Working with Professionals (My friend can do this for me, my friend can do that for me, when things goes wrong, it's all my friend's fault. Costing cost down is not wrong but you have to know how to do it the right way and you have to remember it is your business and not your friend's)

Things you think you need

• A luxurious car ( Anything that don't add value to your business, you should be better off with any mid-range Toyota unless you have loads of spare cash, otherwise it is just for your personal vanity)

• Another branded handbag (You probably just need one if you are concern with your personal image, you could do much more branding your company with the price of another handbag)

• A $500 pen ( A $100 pen should do the same trick as your $500 pen, I would rather spent the extra cash on a nice, catchy mobile number or office number, at least it is easier to remember and makes your name card looks smarter)

• A bigger house (A bigger house comes with higher loans repayment, these higher repayments can have better use if you don't need to have a bigger house)

I would liken a company to cow. Everyone knows a cow produces milk and milk can be sold for money. As much as you may like to believe they magically produce a lot of milk under the worst environment, unfortunately, like all living things, they need proper care, proper housing, proper food and clean water.

Getting the right nutrients and proper care, they generally produce more milk and these directly translate into more profits for the owner. You couldn't be expecting to keep milking the cows without giving them food and shelter. To encourage better yield, you may have to invest a better shelter so that they don't fall sick, not forgetting proper care and better diet.

A company works the same way. When are ask to spend some money on your company like re-designing your logo, reprinting your name cards to better quality cards, a new website, upgrading to a better workplace, it terrifying to know that most people think otherwise! It's obscene to know that when it comes to pampering yourself, you are more than willing. You have forgotten that it is your company that brings you to have that extra cash to pamper yourself, sustaining your monthly household expenses. For some it may even allow you to buy those Rolex watches, those Gucci bags and of course that Mercedes.

When a prospective client don't know you, it is likely they evaluate you through your name card, your business website and the experience they encounter when they visit you. It is unlikely they evaluate you through the car you drive, the watch you wear or the handbag you carry. If you have all the right ingredients, you should be under their top priority consideration even you are charging at a slight premium.

We all know the saying don't be penny wise and pound foolish. Do everything right the first time and you don't have to spend extra money rectifying it. All our clients understand this, do you?

Punctuality

2010-03-19T13:53:00.004+08:00

Ever had the thought of showing up slightly later than the appointment time because you think :

• The other party may be late

• It's okay to be late

• I do not want to wait for the other party

If you are guilty of any of the above, you may want to do some self-reflection after reading the following.
In Singapore context, when two parties fixed an appointment to meet, the party playing the role of the consumer assumed the rights to be late because he/she may be giving you a business.

We are constantly puzzled by people who fixed an appointment and cannot be there at the stipulated time and date. In order for the society to progress, the people must change, the mindset must change. If time is precious to you, it is so everyone too.

You couldn't be expecting your potential clients to be on time and you are late for an appointment when you are a potential client to someone else.

There is a high influx of foreign entrepreneurs in Singapore. Some of them are from countries that are very precise in the time. You certainly don't expect to fare too well with these entrepreneurs if you don’t have the habit of keeping track of time. It relates a lot on your responsibility, self-respect and respect for others.

We have our fair share of people who are late for an hour, 2 hours, 3 hours; some never had the intention of turning up, and we also have people who turn up a few days later. You may think it is funny but I can tell you it is not when you are waiting for these people.

Especially the recent years, we have provided support to a few of MNCs and foreign entities coming over to set up Rep Office and branches. Being punctual for appointments and on time delivery, it gives them more confidence to entrust greater responsibilities to us. We are also impressed by their working culture, every employees are punctual. Punctuality doesn't mean being early, it means being at the place at the stipulated time. It some countries, if you are early, you are still not punctual. I personally feel we still are far from this.

Let's cut out the bad habit.

Our Boutique Serviced Offices featured in Business Times

2010-02-27T15:56:00.002+08:00

Competition gone wrong!

2010-02-10T03:05:00.003+08:00

How do you response when someone asks you what business are you in? Shiver? Stammer? Hesitate? Errrr.........then push this question to another person??? You don't have to be a genious to know that person must have something to hide and is caught off guard.

Story begins....

A lady called to ask for a viewing appointment and came to our boutique office. 3 of them came, a couple in their 40s and a younger chap came over. As we spoken earlier in the Feng Shui article, some people are more sensitive. The moment they step in, I caught an strange feeling. I stop my work immediately, walk out of my office and saw my colleague serving 3 person. Particularly that lady, is emitting out a strange "Qi" or what we call aura. Aura is like a smell, if you have the right vibes, you smell like perfume, if not it's fermented toufu.

Observation is a fundamental feature to determine your Feng Shui as what we discuss earlier. You just need to observe their behavior carefully, each action, response and expression drops you a hint, piece them together and you will get the whole story. Never go against this theory, words can deceptive but actions don't lie. The wily tail of the sly fox will show, if you pay due observance to their strings of leery actions and questions.

After establishing their intention, I approach the woman to ask for name card, my colleague cut in inadvertently and ask for their trade before I can do that. Have you seen chickens jump before? That's what we saw. This simple question send them into frenzy panic-mode and that lady is dumb enough to re-direct this question to this inexperienced chap in his 30s who happen to be their Interior "Designer" or affectionately known as COPYCAT. This chap had made a joke out of his own career by doing that. You don't call yourself a designer if you can't conceptualise. It's may not be his wish to tag along but as a designer, you really need to learn how to respect yourself. The other thing I cannot understand is why they engage a designer who cannot conceptualise, why not bring a contractor instead? It's cheaper and anytime you miss out something, our doorbell is always there.

The moment they knew they have been caught, I was treated to a intimidating stare by the woman. I didn't know what was that for. I could have ask them politely to "GET OUT". After 5 seconds of that, her 360° transformation shocked me. I guess she finally realised we didn't ask to be spied on. She make a quick attempted to get out of the embarrassing situation by putting on her most pretentious smile and claimed they are entrepreneurs and they still haven't decide what business to do and I could join them for coffee. They are interested in anything that makes money. No prize for guessing I didn't want to be associated with such people. Is Entrepreneurship is all about making money? That's simply superficial. It's about achieving the standards set and monetary benefits should be considered part of the package for doing your job well. I still remember clearly when we first started, we WANT to change what we dislike in the leasing industry and certainly not because we found a brilliant idea to replicate.

What amazed me is their lack of knowledge in basic Telco equipments like phone system. Based on their questions, chances are they haven't use one before. B2C business model is different from B2B business model largely by B2B customer requirements are more unforgiving for mistakes. You need to be really sure of what you are doing or you are just messing up other peoples' businesses. There are still a lot of technical knowledge required other than counting money. Of course one may argue everyone has to start somewhere. When we first started, businesses are still using 256 Kb internet broadband, now the fastest is 10 Mpbs. Considering the pace of business in today's context, there is no longer room for mistakes.

The other thing I find peculiar is our boutique office appears to fascinate them so much; their uninhibited excitement on their faces is exceptionally amusing. They simply couldn't stop poking their fingers at every corner. We couldn't understand why.

We also couldn't understand why they have to barge unexpectedly into our tenant's office suite when we told them it's tenanted. It gave our tenant a pretty rude shock. Usually if that is unintentional, an apology is expected. It's a shame that these self-proclaimed "Entrepreneurs" didn't even have the basic courtesy. I presume these "entrepreneurs" still have a lot more to learn.

Business is not about sniffing out one's ass. Not that we are afraid of competition but to bring a designer with the intent of copying is just so disgusting. I believe all business owners will not want their brainchild to be copied and replicated it without "contents". A computer cannot function without software.

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 possesses leadership, management ability, and team-building as essential qualities. I wrote this welcome message to encourage all Entrepreneurs. We recognize the adversity of all Entrepreneurs and have respect for all them. Not everyone in business is an entrepreneur and not everyone who call themselves entrepreneurs are true blue entrepreneurs.

Usually, we don't blog about such thing; they are not the first and certainly won't be the last. We decided to blog this because they are most underhanded.

Feng Shui For Business

2010-02-04T02:56:00.009+08:00

Feng shui is part of an ancient Chinese philosophy. Feng shui is a form of geomancy, divination by geographic features, but it is mainly concerned with understanding the relationships between nature and ourselves so that we might live in harmony within our environment.

We have encounter some people who brought their Geomancer AKA Feng Shui Master to audit our offices. For harmony and mutual respect, we would appreciate we are informed of such visits. We have something to share about what we think of Feng Shui too.
Nope, we are not going into anything superstitious. We will be revealing what has brought us good "Feng Shui" for so many good years. We have been doing very well for many years and certainly want to have many more good years.

Disclaimer : It may not work for you as it works for us.

Before we go into that, We seriously feel that we should get a free audit if you are bringing in a Geomancer to see if we will continue to do well. We have to do well in order not to affect your business. Agree?

The Secret

1 . The "Qi" of our offices or better known as vibes has always been good. This is what attracted good tenants and bad tenants. It is your judgement to select the right tenant and turn away the bad ones. ( It's easier said than done, especially at a time like this, we have been put to many tests.)

2. The people managing the place is great importance. We encountered some proprietors who call themselves Entrepreneurs, they are so sneaky that they brought their interiors designers and ask alot of sensitive questions. You certainly do not want to be associated with such people. If an Entrepreneur cannot be upright and has to resort to sneaky means, what makes you think your deposit is safe? What makes you think that this sneaky mindset will not be used against you? Even if the Fengshui is good for you, you don't even need to consider.

3. Sincerity. If you believe, humans can feel each other. Do this experiment, if someone close to you or you know very well step in, you will be able to feel the mood of the person. Some people are more sensitive, they can feel anyone. Actually how we discovered the sneaky proprietors is through this feel. The moment they step in, they emitted a bad feeling, like a suspicious character. You just need to catch this feel and observe carefully. You should get enough signals to determine. It's not a 1-way road, whether it's the Landlord or the Renter, both parties need to be sincere.

4. Observation. If you observe a person long enough or how to company is projecting themselves, you can evaluate a person or a business easily. Through the first face to face encounter, you have to observe if the person is a serviced oriented person if service is what you are looking for.

In a good working environment where you can have a peace of mind to concentrate building up your career and the Landlord has good faith in the renter to keep the property in good condition, more time and effort can be spend on improving the services and watching out for each other instead of keeping a close tab on each other. This is what it means by Harmony breeds prosperity.

These are some effective Feng Shui tips we use faithfully and it has work well for us. Nonetheless, we hope you find your set of good Feng Shui guidance to bring prosperity to your business. Paramount Assets Corporation take this opportunity to wish everyone a happy and prosperous lunar new year.

Serviced Office For Rent ( Eunos TechPark )

2009-12-07T00:42:00.000+08:00

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!

2009-11-26T16:31:00.006+08:00

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!

2009-11-23T23:48:00.002+08:00

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.

2009-11-16T01:34:00.004+08:00

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

2009-11-15T23:52:00.001+08:00

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)

2009-10-12T02:19:00.014+08:00

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

Serviced Office in Bukit Batok

2009-10-12T00:11:00.009+08:00

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

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

2009-10-04T02:53:00.012+08:00

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

2009-09-30T20:30:00.012+08:00

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?

2009-09-29T04:04:00.006+08:00

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?

2009-09-28T04:10:00.006+08:00

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

2009-09-21T02:15:00.006+08:00

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

2009-09-20T01:05:00.006+08:00

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

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

2009-09-19T22:15:00.004+08:00

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.