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Singapore PR Rejected

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Mad Scientist
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Postby Mad Scientist » Fri, 18 Jun 2010 5:38 pm

revhappy wrote:I still have a year left to apply for PR. So I guess I will just accumulate and keep in cash. Where do you guys invest, btw?
1. Singapore equity?
2. Overseas equity via singapore based trading accounts?
3. Remit to your country and then invest from there?


Rev, you really amazed me, now, you want me to teach you how to invest :shock:
How about into my till ? :D

Ok, I will throw a 50 cent coin for you to ponder.
Investing be it with banks, fund manager, insurance related return, will depend solely on the amount of cash YOU ARE WILLING TO SPARE. High return comes with high risk vice versa.
1. Banks has this dual currency instrument i.e SG/NZD or SGD/AUD etc. Seven major tradeable currencies. Return for NZ is about 5 %, AUD 6% now. You definitely will get those return based on tenure
2. Fund Manager Porfolios is for savvy investor and strong stomach for fluctuation
3. Insurance related instrument with guaranteed returns is good like Prulink or AIA 8 year growth and something similar
4. FD or TD with bank does not have much return. Hedging is the way to go but you need to study the currency movement
The key is all these is done in SG and you can show proof of your investment

Is this good enough ?
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

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Postby revhappy » Fri, 18 Jun 2010 8:54 pm

Thanks a lot MS, I know about these investment avenues. My question is which one do expats in Singapore really choose to invest their hard earned money.

Regarding your suggestions:
1. Banks has this dual currency instrument i.e SG/NZD or SGD/AUD etc. Seven major tradeable currencies. Return for NZ is about 5 %, AUD 6% now. You definitely will get those return based on tenure

This involves currency risk for eg. Had you invested in a EUR FD say a month ago, by now you would have wiped out 20% of your principle. Forget about the returns.


2. Fund Manager Porfolios is for savvy investor and strong stomach for fluctuation

Well! Equities over the long term always generate +ve returns. By long term I mean 10 years+. Ofcourse there are a few exceptions. Japan for eg. Nikkei hit 40K in the 80s and its still not recovered. But I am bullish particularly about emerging market equities. So I am looking at investing in equities, BRIC funds, Long only funds. Not speculative hedge funds.

3. Insurance related instrument with guaranteed returns is good like Prulink or AIA 8 year growth and something similar

I believe Insurance should be kept seperate from investments. They are 2 different things. Shouldnt be mixed.

4. FD or TD with bank does not have much return. Hedging is the way to go but you need to study the currency movement
The key is all these is done in SG and you can show proof of your investment

Exactly, FDs are only for preserving capital not for growth.

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Postby Mad Scientist » Sat, 19 Jun 2010 3:15 am

Revhappy

All this comes with tenure. As long as you do not cash out your principle remains intact.

I sense you want to apply for PR in a years time. The dual currency is a good approach.

You forgot one thing whether it is emerging market or government bonds , they all manipulated by humans. Have you not forgot Lehman brother min bonds ?

Currency trading is risky and you have got to have a strong stomach but the returns is good if you are discipline enough.

Anyway is your money and your choice
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Postby ksl » Sat, 19 Jun 2010 12:39 pm

I love to invest in Taiwan technologies, very high risk, catching the moment to enter. I did very well in 2000, and decided to leave all the profits in reputable growth Companies in hightech, I'm pretty satisfied today, has i have capitalised on the last crash. Using TA over a 3 & 6 month period to predict a large downward trend.

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Postby sundaymorningstaple » Sat, 19 Jun 2010 12:48 pm

Talk about a thread going off on a wrong tangent. :o

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Postby CIA_crypto » Fri, 25 Jun 2010 3:22 pm

nhabeo wrote:Hi Friends

Is there anyone fall in the case like me?
Pls kindly share to me your case. Pls kindly give your advise how long can I apply PR again ?

My husband ( main applicant ) and I applied PR together on august 2009.
We just received rejected letter :
" WE ARE CONSIDERED YOUR APPLICATION CAREFULLY.
WE ARE REGRET TO INFORM YOU THAT YOUR APPLICATION HAS NOT BEEN SUCCESSFUL.
NEVERTHELESS, YOU CAN CONTINUE TO RESIDE AND WORK HERE ON YOUR VALID WORK PASS"

THEY DO NOT SAY how long can we apply again.

For my case, my husband graduated from NTU 2009 and he first time worked as IT technician in a computer retail shop by getting temporary EP.
He changed company one month later and worked as senior electrical eng.
We waited so long for PR outcome,therefore his company assisted him to apply EP just three week ago.
For myself, I worked before on work permit and was terminated contract at the end of 2009
because company has not enough quota for foreigner.
I change to another company after 3 month jobless and hold EP now.

THE MAIN REASON WE WERE REJECTED IS DUE TO UNSTABLE, IS IT ?
But in this case, why don't they mention when we can apply again?


Hi nhabeo,
I am sorry for your PR outcome. Could you share more information with us? I am sure lots of people are still waiting for their PR outcome nervously.

If i am not wrong you have been waiting nearly 11 months for your PR outcome.

1. Did you apply for PR or LPR?
2. Did you receive any letter from ICA between August 2009 to June 2010 regarding about your PR application?

Thank you.

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Postby ksl » Sat, 26 Jun 2010 5:41 pm

sundaymorningstaple wrote:Talk about a thread going off on a wrong tangent. :o
revhappy wrote:

I still have a year left to apply for PR. So I guess I will just accumulate and keep in cash. Where do you guys invest, btw?
1. Singapore equity?
2. Overseas equity via singapore based trading accounts?
3. Remit to your country and then invest from there?
Quick on the draw and missed the target :lol: :P But you are right, nothing to do with subject heading :roll: Damn Lets talk binge night, addadude missed out last time, I said binge night addadude not M. :)

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Postby nhabeo » Sat, 26 Jun 2010 7:34 pm

Dear Mad Scientist

Thanks you for your useful advise on PR. :D .
I will try PR on next year.

Dear CIA_crypto

1. I applied PR only. Is this got kind of LPR in Singapore ? I am not aware of it. can you help to explain more ?

2. No, I does not receive anything in between.

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Postby CIA_crypto » Sun, 27 Jun 2010 2:56 pm

nhabeo wrote:Dear Mad Scientist

Thanks you for your useful advise on PR. :D .
I will try PR on next year.

Dear CIA_crypto

1. I applied PR only. Is this got kind of LPR in Singapore ? I am not aware of it. can you help to explain more ?

2. No, I does not receive anything in between.


Hi nhabeo,
Thank you for sharing your information with us. In your case, I don't think you can apply for Landed PR because you are already holding EP and working in Singapore. If you want to know more information bout LPR, you can look at previous post in Singapore Expats Forum:

ftopic62913.html

ftopic69230.html

This forum is one of the best forum in Singapore :)

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rejected

Postby dragsworthy » Tue, 29 Jun 2010 12:16 pm

Hi All

Never posted on here before so I'm new to the forum, please be gentle...

I just received my rejection letter today. I didnt actually realise that there was so much in the press about the the PR application status... If I had known then I probably wouldn't have submitted my application.

Anyway, little bit of background if it helps others:

Nationality: Australian (me) and South Korean (wife)
Age: 28 and 29
Education: Bachelor of Commerce, Bachelor of Arts, Grad Diploma Accounting and Finance, Graduate Certificate of Financial Planning
Fluent Languages: English, Chinese, Korean
Income: 108k per year (9k per month) for me, 31.2k per year (2.6k per month) for the wife
Bonus: ~50% of base, last year it was 50k
Visa: P1 for me, P2 for the wifey
Employment Industry: Banking
Work Experience: ~5 years
Been in Singapore for 2 years upon application
Money in the Bank: ~30k SGD
Money in Managed Funds: ~50k

I thought that I'd be a prime applicant but after reading all the posts above I'm more inclined to think I've applied at the wrong time and in poor circumstances.I think I'll wait another 6-12 months and give it another shot. I'm actually looking to buy a condominium and I think that should support me along with the electoral environment in the near future.

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Postby Saint » Tue, 29 Jun 2010 12:25 pm

Well that just goes to prove just how hard it is to get PR these days, a year ago they would have rolled the red carpet out for you!

A couple of questions, did you both apply for PR and both rejected? How long you been married?

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Re: rejected

Postby singaporeflyer » Tue, 29 Jun 2010 12:47 pm

dragsworthy wrote:Income: 108k per year (9k per month) for me, 31.2k per year (2.6k per month) for the wife
Visa: P1 for me, P2 for the wifey


Just wanted to know that with 2.6K salary per month can a person qualify for a P2 visa? I am not sure.

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Postby bhauranya » Tue, 29 Jun 2010 1:17 pm

For a P2 salary has to be above 3.5k mandatory requirement
Dont't be serious, be sincere!!

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Postby dragsworthy » Tue, 29 Jun 2010 1:36 pm

Yes, i think you're right...

Actually, i read all the posts above and i saw all the people talking about P1 and P2 so i tried to work out what my wife was on and i think i saw it was 2.5k but its actually 3.5k... so I picked the wrong one.

That must mean she's on an S-Pass?

I'm not sure about mine either...cos my salary was 7.5k per month and then my employer bumped it up after my application... so my salary was 90k when I applied. I didn't notify them as it got increased quite recently.

Anyway, I feel pretty disappointed and rejected about the whole thing but what can you do? Patience and perseverance are the keys.

Man, im so bad on this forum...I couldnt even find my original post.

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Postby dragsworthy » Tue, 29 Jun 2010 1:39 pm

Saint wrote:Well that just goes to prove just how hard it is to get PR these days, a year ago they would have rolled the red carpet out for you!

A couple of questions, did you both apply for PR and both rejected? How long you been married?


Hey Saint, happy to answer any Q's...


My wife was included in my application.
We have been married for over two years (2-years and 4 months now s o would have been 2-years and 3month at application stage)...we got married just before we came to Singapore actually.


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