Commentary

        Singapore’s average wealth per adult is currently US$282,000 (5th in the world)         The number of High-Net-Worth (HNW) individuals rose 21.5% in 2012         HNW Individuals hold USD 857 billion in wealth         The number of HNW individuals in Singapore expected to rise 58% by 2017         HNW Individual wealth expected to surpass USD 1.38 trillion by 2017         Assets under management across Singapore hit a record high of USD 1.29 trillion The degree of wealth shifting to Singapore is truly staggering so it is important to look at why wealthy individuals from across the globe are seeking to make Singapore their new home. Highlighted below are some of the key reasons we are seeking such rapid growth in the number of HNW individuals shifting to Singapore.

Companies today, including those in Singapore, are facing up to two hard realities: first, they cannot sit back and hope for the recovery of mature markets; second, volatility on many fronts including domestic economies, currencies and commodity prices is a way of business life.

The US economy has made steady progress since the financial meltdown in 2008. While the recovery is a slow and painful process, there are more glitters of hope to be seen in America.

The new Fair Consideration Framework has evolved based on feedback from the ‘Our SG Conversation’ national dialogue sessions with the Singapore population comprising working adults and the PME group in question. 

Singapore has a unique culture when it comes to sales. As someone who has studied, compared and developed insights about the selling economies around the world, I like to describe Singapore’s sales culture as “transactional.”

Many people in Singapore complain that they don’t have time to make themselves healthy at work. Too hot to go out beyond malls, long fatty lunches in food courts and hawker centres, fatty coffees and sweets at irregular times, no time for exercise combined with static working at desks makes Singaporeans potentially unhealthy at work.

In recent years, more and more Singaporeans have decided to abandon the old traditional Singapore dream of working for an employer and climbing the corporate ladder. These folks have the desire to have a more flexible work schedule and of course enjoy the thrill of being their own boss.

The number of millionaires in Singapore is on the rise. Last year, the number increased 10.3 percent to hit 101,000.

One of the most casual and common question you get asked in life is “What do you do for a living?”

In September last year I left the comforts of a salaried banking job to co-found EatAds. My salary went from an annual six-digit figure to zero. My office moved from high rises of the CBD to a run-down industrial park in the West. I’ve gone from working five days a week to seven days a week. I’ve gone from watching the clock countdown to hoping time freezes so I can catch my breath.

Dear Luxury,

On the surface, Singapore looks like a buzzing global city where everyone is coping well and has a roof over their heads. Singapore has a heavy chunk of its population in the middle-income category.

I never was much of a runner, but decided to participate in a run at the Frost & Sullivan charity event – Frost the Trail, a 10km individual race at the MacRitchie Reservoir Park in Singapore. I should have practiced and prepared for my debut attempt but that never really happened.

The “motivational speaker” is a favoured agenda item on management off-sites and seminars. Perhaps a captain of industry or media personality to speak to the assembled grey-suited delegates, it always breaks up the monotony and is sometimes even entertaining. But does it impart any relevant knowledge?

What is the biggest Social Media mistake in Singapore?

To cultivate purchase preference and build a strong brand, a company needs to wins the trust of its clients. It wins that trust when its employees deliver a service which exceeds their clients’ expectations.