Singapore is the new playground for the superich!

The list of Super rich that moves to Singapore recently:

  • Eduardo Saverin, the Brazilian co-founder of Facebook
  • Nathan Tinkler  from Australia
  • Jet Li, Hong Kong movie superstar
  • Gong Li, China movie superstar
  • B. K. Modi,  the global Chairman of Spice Global
  • etc

lhl

“In fact, if I can get another 10 billionaires to move to Singapore and set up their base here, my Gini coefficient will get worse but I think Singaporeans will be better off, because they will bring in business, bring in opportunities, open new doors and create new jobs, and I think that is the attitude with which we must approach this problem.” – Lee Hsien Loong

“Some do invest here, but most simply park their money here and run their businesses outside. They drive up the cost of living for locals, especially in real estate and cars” – a retired banker

“I’m from New York City, a place notorious for being expensive, but I find it more expensive to do things in Singapore than there. For example, the tickets to the zoo in Singapore costs $22.39 USD for one adult. In New York, you can get in for $17 USD. The average beer in downtown Singapore may cost about $9 to 15 USD. You can get a pint in midtown New York for $4 (that’s at least less than half!). This is partly why graduate students in Singapore are so sad (which I’m also posting about soon).” – Chewy Travels

“The number of rich people in Singapore with more than $1m in “investable assets” is expected to reach 133,000 by 2015, about double the level in 2010.” – Financial Times

“MONEY, plenty of it! So much is circulating around parts of Singapore – much of it from abroad – that some economists are worried. After years of success luring in foreign wealth, the city is now experiencing what an analyst calls a “wealth bubble” that is continuing to grow…..Today, Singapore has 27 billionaires, the fifth largest number in the world….One in 30 Singaporean residents is today a millionaire – doubling from 2008 to 2012. It has the world’s highest number of millionaires per capita.” – The Star Online

 

“Is Singapore a really better place to live in than Hong Kong?

On the surface, the Umbrella Movement, as the month-long protest in Hong Kong is called, is a call for democracy by its citizens.

But rooted in this demand is the fact that the cost of living in Hong Kong has increased and income inequality has widened to the extent that livelihoods have become more difficult for the people in Hong Kong.

The people in Hong Kong have attributed this to a government which only looks out for business interests while allowing the lives of ordinary Hong Kong people to languish.” -Roy Ngerng

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Posted in Dirty Politics

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My favourite quote today

"I am afraid the cruise ship is over capacity limit, and it used to be a luxury cruise ship. The designer’s claim that it is not sinkable, the name is Titanic. There are not enough life boats, no preparation or provision for failure. Thank you Mr Goh for reminding us." - Low Thia Khiang

"Till today, I am still puzzled by why the PAP cannot fight a fair election without gerrymandering, abusing the GRC system, basically, making sure they enter into a boxing ring with an opponent who is expected to fight them with hands tied behind the back. There is a reason why bullies are not popular in schools. Why not be the school prefect?" - Alvinology

"The question to ask is what lies at the root of the discontent or the disengagement between the G and the people. I am going to stick my neck out and say that it is ministerial salaries. I consider it the root of all evil. Serious. It reduces what should be a social compact into a business contract. " - Bertha Henson