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Thread: 66660 millionaires in singapore!!!

  1. #41
    Senior Member Sion's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by kcuf2 View Post
    do u guys know that 1 in 100 ppl in spore a year ago is a millionaire ??
    So there are 431 millionaires in CS?

    Please put down your name here if you're one of them:

    1.
    2.
    3.
    4.
    5.
    6.
    7.etc. etc.
    Last edited by Sion; 30th June 2007 at 12:31 AM.

  2. #42
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    Default Re: 66660 millionaires in singapore!!!

    the 66660 millionaires figure is quite true.

    given that 10 in 1000 is a millionaire in singapore and using a population of 4.5 million, that means there is abt 45000 millionaire..

    the current jul 07 population is 4,553,009 , with 66660 millionaires,
    that means 14.6 in 1000 is a millionaire!

    a growth of 4 people per thousand of millionaire in approx. a year !

    or is toto having higher frequency of big draws thus contributing to more rich ppl?
    09 Oct 09 officially marks the date I become a canon convert.

  3. #43

    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by USM View Post
    This is not surprising at atll.

    Each year, there are a few people strike TOTO, like the recent case where a guy got $6.51millions.

    Professionals in the medical, accountacy, audit, investment, law & banking are earning a lot especially when the economy is doing well. Annual remuneration is more than $100,000 depending on seniority. I used to know a VP in a local bank earning more than $10,000 a month excluding 13 month and bonuses.

    Another group of people will be those who made huge profits from real estate. I know someone in CS made at least $500,000 in a recent En Block sales.

    Lastly, we have witnessed students nowadays owning many L lenses and 1-series cameras. This further shows the affuent level.

    They are taking net worth into consideration, meaning it includes property, and not just cash, stocks or financial assets. Of course there will be many millionaires if you count it that way because Singapore properties and cars are expensive. Everyone is in debt trying to pay those off. IMO, it is just a report to get attention and make Singaporeans feel good. The actual number of Singaporeans having $1mil in cash assets will be much much lesser. Also, the report didn't mention anything about 666600 "Singaporeans"

    Students owning L lenses has nothing to do with millionaires. L lens is not worth a million dollars. Anyone can work as a waiter during school holidays and splurge on one.

  4. #44

    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by kcuf2 View Post
    the 66660 millionaires figure is quite true.

    given that 10 in 1000 is a millionaire in singapore and using a population of 4.5 million, that means there is abt 45000 millionaire..

    the current jul 07 population is 4,553,009 , with 66660 millionaires,
    that means 14.6 in 1000 is a millionaire!

    a growth of 4 people per thousand of millionaire in approx. a year !

    or is toto having higher frequency of big draws thus contributing to more rich ppl?
    If we discount PRs, our Population is only 3.4 Million.
    If we further discount young adults with no earning power age>24, the figure is about 2.38 Million.
    Therefore, the ratio is 1 millionaire out of 36 adult citizens.
    Last edited by Silence Sky; 30th June 2007 at 11:23 AM.

  5. #45

    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by sandyforever View Post
    IMO, it is just a report to get attention and make Singaporeans feel good. The actual number of Singaporeans having $1mil in cash assets will be much much lesser. Also, the report didn't mention anything about 666600 "Singaporeans"
    .
    IMO, it is a report that thinks Singaporean readers are stupid.

  6. #46
    Senior Member melvin's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by sandyforever View Post
    They are taking net worth into consideration, meaning it includes property, and not just cash, stocks or financial assets. Of course there will be many millionaires if you count it that way because Singapore properties and cars are expensive. Everyone is in debt trying to pay those off. IMO, it is just a report to get attention and make Singaporeans feel good. The actual number of Singaporeans having $1mil in cash assets will be much much lesser. Also, the report didn't mention anything about 666600 "Singaporeans"

    Students owning L lenses has nothing to do with millionaires. L lens is not worth a million dollars. Anyone can work as a waiter during school holidays and splurge on one.
    IMHO the no of people having S$1mil or more in cash is getting more with the recent concluded deal of En-bloc of Farrer Court for S$1.34b and that will make 618 owners each of them will recieved between S$2.1mil - S$2.2mil depending on unit size. With more En-bloc to come the no will rise some more!

  7. #47
    Senior Member Sion's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by Silence Sky View Post
    IMO, it is a report that thinks Singaporean readers are stupid.
    I think the report is for the avid readers among the robbers in JB.

  8. #48

    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by sandyforever View Post
    They are taking net worth into consideration, meaning it includes property, and not just cash, stocks or financial assets. Of course there will be many millionaires if you count it that way because Singapore properties and cars are expensive. Everyone is in debt trying to pay those off. IMO, it is just a report to get attention and make Singaporeans feel good. The actual number of Singaporeans having $1mil in cash assets will be much much lesser. Also, the report didn't mention anything about 666600 "Singaporeans"

    Students owning L lenses has nothing to do with millionaires. L lens is not worth a million dollars. Anyone can work as a waiter during school holidays and splurge on one.
    no wonder.

  9. #49
    vince123123
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    Default Re: 66660 millionaires in singapore!!!

    I always thought the report is to make singaporeans feel good. However I think it is backfiring as there aer many many more non millionaires and they are thinking "what the heck, rich getting richer again"

    Quote Originally Posted by sandyforever View Post
    They are taking net worth into consideration, meaning it includes property, and not just cash, stocks or financial assets. Of course there will be many millionaires if you count it that way because Singapore properties and cars are expensive. Everyone is in debt trying to pay those off. IMO, it is just a report to get attention and make Singaporeans feel good. The actual number of Singaporeans having $1mil in cash assets will be much much lesser. Also, the report didn't mention anything about 666600 "Singaporeans"

    Students owning L lenses has nothing to do with millionaires. L lens is not worth a million dollars. Anyone can work as a waiter during school holidays and splurge on one.

  10. #50
    Member Static's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by Sion View Post
    I think the report is for the avid readers among the robbers in JB.
    I think after this report there will be more malaysian cars driving into SG
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  11. #51
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by vince123123 View Post
    I always thought the report is to make singaporeans feel good. However I think it is backfiring as there aer many many more non millionaires and they are thinking "what the heck, rich getting richer again"
    but those who r drawing d same paycheck w/ increse workload wont feel gd even abit.

  12. #52
    Senior Member Sion's Avatar
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by vince123123 View Post
    I always thought the report is to make singaporeans feel good. However I think it is backfiring as there aer many many more non millionaires and they are thinking "what the heck, rich getting richer again"
    But some are thinking "Wow! Poor getting rich so Shiok!".

  13. #53
    vince123123
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    Default Re: 66660 millionaires in singapore!!!

    There are always those who are less discrening, which is why these attempts at brainwashing/propaganda etc works.

    e.g. publishing news of hgihh 'growth' after GST rise, that sort of thing.

    Quote Originally Posted by Sion View Post
    But some are thinking "Wow! Poor getting rich so Shiok!".

  14. #54
    vince123123
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    Default Re: 66660 millionaires in singapore!!!

    which is why i'm saying its backfiring.

    Quote Originally Posted by sORe-EyEz View Post
    but those who r drawing d same paycheck w/ increse workload wont feel gd even abit.

  15. #55

    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by vince123123 View Post
    which is why i'm saying its backfiring.
    Backfiring??? I think it is an insult.

    Official retirement age has rasied to 65 years old. Not official yet but confirmed to be official.
    Minimum Sum in CPF to be rasied to 120k.

    Why all these moves??

    Publish the number of people who cannot meet the minimum sum.
    Then the picture is complete.

  16. #56
    vince123123
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    Default Re: 66660 millionaires in singapore!!!

    The supposed move is to make sure pple got money to last longer. They just dont want to have to deal with pple who run out of CPF and then go to welfare assistance.

    The problem is that you deprive a thirsty person of water so that you can give him water later....

    All these are just patching moves, the root problem is there. high costs of everything etc.

    Quote Originally Posted by Silence Sky View Post
    Backfiring??? I think it is an insult.

    Official retirement age has rasied to 65 years old. Not official yet but confirmed to be official.
    Minimum Sum in CPF to be rasied to 120k.

    Why all these moves??

    Publish the number of people who cannot meet the minimum sum.
    Then the picture is complete.

  17. #57

    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by vince123123 View Post
    There are always those who are less discrening, which is why these attempts at brainwashing/propaganda etc works.

    e.g. publishing news of hgihh 'growth' after GST rise, that sort of thing.

    Well Singapore readers ARE stupid.
    Look at the first two pages of this post, almost everyone is believing the report!!
    The people who benefited from recent en-bloc sales are just a handful. The newspapers make big news out of it, and people begin to think we have millionaires everywhere.

  18. #58
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by vince123123 View Post
    The supposed move is to make sure pple got money to last longer. They just dont want to have to deal with pple who run out of CPF and then go to welfare assistance.

    The problem is that you deprive a thirsty person of water so that you can give him water later....

    All these are just patching moves, the root problem is there. high costs of everything etc.
    they dun hav solutions to some of our society's major problems?

  19. #59
    vince123123
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    Default Re: 66660 millionaires in singapore!!!

    I'm afraid not, if not you won't see these sort of patchwork "solutions".

  20. #60
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    Default Re: 66660 millionaires in singapore!!!

    Quote Originally Posted by vince123123 View Post
    I'm afraid not, if not you won't see these sort of patchwork "solutions".
    har? i tot they should at least b worth their paycheck. looks like we need to DIY?

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