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Monthly Archives: July 2009

Expat perks put through the wringer

Posted on 29 Jul 2009 | Comments Off

Hard times are hastening the trend towards slimmer packages, but expatriates aren’t fleeing

By TEH SHI NING

Expatriate perks are fast disappearing. ‘Localising’ their packages is a trend that started several years ago and has picked up pace in these lean times, executive search consultants say.

But expats here are not about to flee, according to HSBC’s Expat Economics survey, which suggests that most of them still have more disposable income here than they would back home. The credit crunch, therefore, has not led to a rush to book tickets out.

Still, Craig Brewer, manager of banking and financial services at Hudson Global Resources in Singapore, said: ‘There has been a dramatic reduction in the size of expatriate packages in the past four or five years, and it has been across the board.’ Continue reading →

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Posted in General

Tagged Expats, Foreigners, Singapore Expats

Signs of speculation in private property market

Posted on 29 Jul 2009 | Comments Off

The government is seeing some signs of speculation in the Singapore property market, according to National Development Minister Mah Bow Tan.

Speaking on the sidelines of the topping out ceremony of the Marina Bay Financial Centre on Wednesday morning, Mr Mah said the government is monitoring the situation.

He added that it is uncertain if the buying momentum seen in recent months can be sustained.

“The forecast is still for negative growth this year. Although it’s not as negative as it was in the beginning of the year. I think there is still uncertainty… But what is important really is for all of us, all the players in the market, to make sure that the market remains healthy,” said Mr Mah. Continue reading →