Welcome, Guest
You have to register before you can post on our site.

Username
  

Password
  





Search Forums

(Advanced Search)

Forum Statistics
» Members: 4,917
» Latest member: shadowybs
» Forum threads: 10,185
» Forum posts: 162,080

Full Statistics

Online Users
There are currently 1019 online users.
» 0 Member(s) | 1016 Guest(s)
Applebot, Baidu, Google

Latest Threads
SEA (formerly known as Ga...
Forum: S - S
Last Post: CY09
5 hours ago
» Replies: 99
» Views: 65,698
Keppel Corporation
Forum: K - K
Last Post: CY09
5 hours ago
» Replies: 738
» Views: 1,287,600
Best World
Forum: B - B
Last Post: dreamybear
10 hours ago
» Replies: 1,248
» Views: 1,932,265
Yangzijiang Financial Hol...
Forum: Y - Y
Last Post: weijian
Yesterday, 08:24 AM
» Replies: 244
» Views: 124,620
Is TDM undervalued based ...
Forum: Malaysia Listed Companies
Last Post: i4value
25-04-2024, 11:31 AM
» Replies: 3
» Views: 2,907
Bunching up of AGMs in Ap...
Forum: Singapore Listed Companies
Last Post: specuvestor
25-04-2024, 10:38 AM
» Replies: 27
» Views: 37,721
ESR-REIT
Forum: E - E
Last Post: weijian
25-04-2024, 09:26 AM
» Replies: 15
» Views: 31,596
Centurion Corporation
Forum: C - C
Last Post: Behappyalways
25-04-2024, 08:12 AM
» Replies: 105
» Views: 210,475
Yanlord Land Group
Forum: Y - Y
Last Post: donmihaihai
24-04-2024, 07:33 PM
» Replies: 208
» Views: 384,409
Hock Lian Seng
Forum: H - H
Last Post: Squirrel
24-04-2024, 05:51 PM
» Replies: 115
» Views: 195,612

  Good website for S-Chips?
Posted by: Herodot - 31-10-2010, 06:40 PM - Forum: Others - Replies (2)

Hi, i want to do research on S Chips, what websites do you use for that?
I try sgx.com, but i dont find it very convenient for checking a lot of companies.

Print this item

  Daughters sue dad over $15m of shares
Posted by: Musicwhiz - 30-10-2010, 09:41 AM - Forum: Others - Replies (13)

It's really quite sad to read about family disputes over money - to the extent that a lawsuit is required!

Oct 30, 2010
Daughters sue dad over $15m of shares

Duo say stocks are a gift; he says they had to pay for them
By K. C. Vijayan, Law Correspondent

Mr Yeo Chong Lin, executive chairman of Yeo Holdings, says the shares were initially allotted to his daughters on the condition that they pay for them. He later transferred the shares to his sister and brother. -- ST FILE PHOTO

TWO daughters sued their father yesterday for the $15 million worth of shares they claim were meant for them as a gift.

Mr Yeo Chong Lin, who is worth more than $115 million, is disputing the claim, arguing that the 758,278 shares were allotted to each of them on the condition that they pay for them. The shares in Yeo Holdings, an investment firm, were never handed over to them but remained in his possession. They were later transferred by Mr Yeo to his sister, Ai Tin, and brother, Chong Boon.

His two daughters, Ms Catherine Yeo, 52, and Ms Margaret Yeo, 40, are seeking a declaration from the High Court that the share transfer was wrong. They are also seeking damages for their alleged losses.

Both daughters fell out with their father after their parents' divorce in 2005, according to court documents filed.

Mr Yeo, 76, who is executive chairman of Yeo Holdings, was divorced by his wife of 49 years, Madam Nancy Tay, 72. He was ordered to pay some $41 million in assets to her by the High Court in May.

The couple have two sons and two daughters.

His daughters said in court documents filed that their father verbally offered to increase their shareholdings in Yeo Holdings to 758,278 shares each in recognition of their work for Swissco Offshore, a ship-handling firm and subsidiary of Swissco International, the main asset of Yeo Holdings.

Catherine worked at Swissco Offshore for about 20 years while Margaret put in several stints between 1998 and 2005. They also claimed they were to get the shares as gifts from a father wanting to provide for his children.

But they fell out with him in April 2005 when their mother started divorce proceedings. In his defence statements filed in the divorce suit, he accepted that his daughters were allotted the shares.

In court papers filed by their lawyer, Mr Boey Swee Siang, the daughters also claimed he had never asked that the shares be paid for before the divorce proceedings.

Mr Yeo, however, countered that he had offered to release the shares in June 2006 if they pay for them but neither of them took up his renewed offer.

He pointed out that he started Yeo Holdings in January 2004 with his son Alex, putting up $4,999,999 to the latter's $1.

He was, therefore, the beneficial owner pending transfer of the shares in any way he deemed fit.

In September last year, he transferred the shares, allotting them to his brother and sister without his daughters' consent.

His daughters claimed the move was invalid and sought damages.

A pre-trial conference was held on Wednesday.

The case will be heard in the High Court next month when Mr Yeo's lawyer, Mr Nicholas Lazarus, will seek to lift a High Court injunction freezing his assets, pending the outcome of the suit.

vijayan@sph.com.sg

Print this item

  S'pore may raise retirement age to 68, says Lim Boon Heng
Posted by: Musicwhiz - 28-10-2010, 04:40 PM - Forum: Others - Replies (20)

I saw it coming......retirement age to be raised?? Undecided

S'pore may raise retirement age to 68, says Lim Boon Heng

SINGAPORE: Singapore's Minister in the Prime Minister's Office Lim Boon Heng has indicated that the country may need to raise its retirement age to 68.

Mr Lim, who's in Finland accompanying President S R Nathan on his state visit there said Singaporeans need to work longer as their life span increases.

That is because they need to accumulate more for their old age.

Mr Lim who is also the minister in charge of issues on ageing in Singapore, cited Finland as an example, and will use this trip as an opportunity to study how the Finnish are dealing with their ageing population.

Mr Lim added there are areas that Singapore can emulate. One of which is to mobilise the elderly to organise themselves and form retirement communities that can provide mutual support and friendship.

A law that will make it mandatory for employers to offer re-employment to workers beyond the age of 62 will be in place by 2012.

"We are raising the retirement age, through the process of re-employment from the current 62 to 65 in January 2012. Beyond that we would have to examine how we can further raise the retirement age. In Finland, they have raised it to 68, so it gives us an indication about where we should be heading.Because the Finns are not living longer than us, we have a life expectancy of about 80, I think the finns are little less than us," said Mr Lim.

Print this item

  ERP rates up $1
Posted by: Musicwhiz - 25-10-2010, 06:45 PM - Forum: Others - Replies (5)

I'm glad I don't drive. The rates are exorbitant! Confused

Oct 25, 2010
ERP rates up $1

By Maria Almenoar

ELECTRONIC Road Pricing (ERP) charges at four areas will go up by $1 from Nov 1.

The changes are as follows:

>>Gantries at the East Coast Parkway (ECP) at Fort Road and the Kallang-Paya Lebar Expressway slip road from 8.30am to 9am.

Old: $3

New: $4

>>Westbound on the Pan-Island Expressway (PIE) near Kallang Bahru from 7.30am to 8am.

Old: no charge

New: $1

>>The Central Business District and Bugis-Marina Centre cordon on weekday CBD from 6.30pm to 7pm

Old: $2

New: $3

>>Orchard cordon on weekdays from 6.30pm to 7pm

Old: $1

New: $2

>>Orchard cordon on Saturdays from 6.30pm to 8pm

Old: $1

New: $2

The rates for the other gantries will remain unchanged.

The next ERP review will take place in November for the December school holidays.

Print this item

  Retail investors will have to prove that they know what they are getting into
Posted by: PassiveReturns - 25-10-2010, 01:18 AM - Forum: Others - No Replies

Retail financial investors to get better protection

(SINGAPORE) Soon, retail financial investors will have to prove that they know what they are getting into before they are allowed to buy certain investment products.

And if they don't, the Singapore Exchange (SGX) is ready to give them a primer over the Internet on the subject.

The onus of the new regime, however, falls on financial institutions. They must make sure that their customers have financial knowledge or experience before doing business with them, said the Monetary Authority of Singapore (MAS) yesterday.

Investment products that fall under the new, tougher Regulatory Regime for Listed and Unlisted Investment Products include popular unit trusts, structured deposits and exchange traded funds (ETFs).

Those not caught under the new regime include shares, depository receipts representing shares, rights issues, company warrants, plain vanilla bonds or debentures, business trusts, Reits, life insurance policies and foreign exchange contracts.


The MAS said that for the sale of unlisted investment products, financial advisers have to conduct a customer knowledge assessment before a sale, to assess whether the customer has the relevant knowledge or experience to understand the risks and features of the product.

The assessment should find out if the customer has any finance-related background relevant to the product, which includes relevant educational qualifications; investment experience or work experience directly related to the product or similar products.

For trading of listed products under the regime, the remisier has to do a customer account review before account opening. The review is to ascertain whether the customer who wishes to trade the listed security has the relevant knowledge or experience to understand the risks and features of derivatives, before approving the customer's account for trading such products.

For customers who do not have the relevant qualifications, remisiers could ask if they wanted to take an Internet-based tutorial on derivatives that is developed by SGX, said MAS.

Existing customers are not exempt from the review, but remisiers will be given a transition period to comply with the requirement.

The tougher regime will be implemented as soon as possible.

'Generally, proposals which do not require legislative amendments will be implemented first,' said an MAS spokeswoman.

Financial institutions will be expected to adopt the remaining proposals even before legislative implementation as good practice in conducting business with their customers, she said. 'We are targeting all legislative amendments to be effected by the end of 2011.'

Bankers expect the tougher requirements to increase compliance cost but saw it as generally beneficial to customers.

Helen Neo, Maybank Singapore head of consumer banking, said that the proposed customer knowledge assessment requirement was already embedded in its sales advisory structure.

'While this may lead to a stringent sales advisory process, it is beneficial to the customers as this enhanced due diligence is put in place to protect customers' interest before they purchase any investment product.'

Print this item

  Getting a slice of the hot Asian IPO pie
Posted by: Musicwhiz - 24-10-2010, 07:21 AM - Forum: Others - No Replies

Oct 24, 2010
Getting a slice of the hot Asian IPO pie

How local investors can apply for foreign shares
By Harsha Jethnani

Mega IPOs in Asia continue to be the flavour of the month, with the most recent listing being that of AIA Group in Hong Kong.

Set to raise as much as $26 billion, it could be the world's second biggest initial public offering (IPO) this year. The biggest so far has been Brazilian oil company Petrobras' listing which raised US$67 billion (S$90 billion).

And following the enthusiastic response to Singapore's own mega listings - Global Logistic Properties and Mapletree Industrial Trust - it may well be worth an investor's while to look farther afield.

On the cards is the listing of Petronas Chemical Group in Malaysia which could raise up to US$4 billion. The retail offer is expected to be open from Oct 29 to Nov 9.

Only 2 per cent, or just under 50 million shares of the estimated 2.48 billion shares, will be open to retail investors, half of which is reserved for ethnic Malay or bumiputera investors.

Singapore investors who want to apply for foreign IPO shares can approach brokerage houses in Singapore which have a tie-up with the IPO manager, as they will be given an allocation of shares to be distributed to their clients.

The listings would also have to be international offerings with openings for retail buyers and no specific prohibitions.

Some countries, like Indonesia, place restrictions on the percentage of foreign ownership in controlled industries like telecommunications, Ms Serene Seow, head of equity capital markets at CIMB Bank Singapore, told The Sunday Times.

Investors can go through CIMB Securities in Singapore to apply for IPOs in Indonesia, Hong Kong, Thailand and Malaysia. The brokerage fee on IPO shares is usually 1 per cent, Ms Seow added, on top of which country-specific charges could be added. CIMB will act as the custodian for the investors' foreign shares, if successfully allotted.

Another option is to appoint a foreign broker in the market of interest, which is sometimes also the cheaper option.

Singaporeans looking to tap Hong Kong, for example, can open a trading account with an international broker like DBS Vickers. Investors can contact DBS Vickers' Hong Kong office for application forms to be sent via post.

Applicants can then get their documents and identities verified at DBS Vickers in Singapore, a spokesman for DBS Bank said.

Once the account is opened, DBS Vickers Hong Kong will assign a remisier to the customer.

Fees include a commission charge of 0.25 per cent on a minimum of a $100 transaction. Other charges include stamp duty at 0.1 per cent, trading fees at 0.005 per cent, levy of 0.003 per cent and settlement fees of 0.002 per cent.

harshamj@sph.com.sg


Print this item

  The components of EDI and related options
Posted by: Daniel Hoch - 01-10-2010, 01:28 PM - Forum: Others - No Replies

Electronic Data Interchange (EDI) has three major components. They are,
1.Trading partners
2.Translation software
3.Communications

Trading partners: These are business organizations that agree to exchange business information, data and documents via EDI. Small, medium and large organizations that are involved in various types of business activities are part of this group. For partners that dare to trade that are now being made available are endless.

Translation software: This software written in some of the most popular platforms regulates most of the operations. Some of its main features include,
1. It is dual purpose software and it converts files to or from an EDI format called a "document"
2. A document is known as an EDI message and the definition specifies the content and sequence of the data to be included
3. In the case of outbound business information, data or documents (we will refer to as document), an internal application file format is translated into an EDI format
4. For inbound documents, the EDI format is translated into an EDI format
5. For inbound documents, the EDI format is retranslated into an internal application file format
6. It is not necessary for trading partners to use the same translation software, nor is it necessary for them to have similar hardware platforms
7. Software and hardware independence is one of the major advantages of EDI

Communications: The transmission and reception of "document" between trading partners using compatible hardware and software, which best suits their requirements.

Print this item

  $12m fraud at Govt Stat Board
Posted by: Musicwhiz - 29-09-2010, 07:04 AM - Forum: Others - Replies (8)

One of the biggest fraud cases in recent years.....plus the men and their expensive assets!

Business Times - 29 Sep 2010

$12m fraud at govt stat board


SLA recovers Ferrari and Lamborghini from two former IT officers who allegedly raised fake invoices for fictitious maintenance services

By MICHELLE QUAH

(SINGAPORE) In what is perhaps the biggest case of government-sector fraud in recent history here, police have caught and charged a former Singapore Land Authority (SLA) senior employee on 249 counts of cheating the authority of some $12 million, over the course of two years.

If convicted, he faces a possible jail term of up to 10 years on each charge.

But that isn't all; the probe on the man is still ongoing, and BT understands charges could also be brought against a colleague he is believed to have conspired with and the external parties they both dealt with.

SLA has managed to recover some $10 million in cash and assets from its two former employees, with the help of the police. BT understands that among the assets recovered were flashy cars driven by the two men - a Lamborghini and a Ferrari - five properties, watches, jewellery and designer handbags.

SLA, which is a statutory board that manages state land and is also the national land registration authority, said (in a joint press statement with the Law Ministry yesterday) that it believes its two former officers, Koh Seah Wee, 39, who was deputy director of its technology & infrastructure department, and Christopher Lim Chai Meng, 37, a manager in that department, conspired to cheat SLA of $11.8 million.

Under an old SLA organisation chart obtained by BT, Koh, who has been charged, reported directly to the director of the information technology division, who in turn reported to the deputy CEO of SLA. Lim is understood to have reported to Koh.

SLA said, in its press statement, that the two men are believed to have rendered false invoices through various business entities, for fictitious IT maintenance services and goods which were not delivered. The business entities were set up by their friends, with seven of the entities owned by businessman Ho Yen Teck. BT understands the transactions took place between January 2008 - less than a year after the two men were seconded to SLA from the Infocomm Development Authority - and March 2010.

Explaining how the crime could have escaped detection for more than two years, SLA said 'the two officers are suspected of conspiring with each other and with the said business entities, thus enabling them to circumvent the checks and balances in the processes'. SLA said it also had in place finance and procurement processes which were in accordance with government guidelines.

BT understands this to refer to the government practice where departments can request parties to submit a quote for contracts worth less than $70,000 - a limit beyond which government offices have to call for a tender. The government and the SLA also have an $80,000 limit - the maximum amount for a contract which a deputy director, like Koh, could have approved on his own. Any amount beyond that has to be approved by the director of the division.

BT understands that the two men escaped detection by ensuring that each of the contracts they secured - from the fictitious IT companies set up by their friends - were below these limits. The amounts ranged from $2,600 to $60,000.

Lim would submit the requests to Koh, who would then approve them under his authority. The quotes by the fictitious IT firms were then submitted through the government's e-procurement portal, GeBiz, so that everything appeared proper on the surface. The contracts were also for IT services - intangible products that could not be verified by sight after they were provided.

Drew & Napier director Wendell Wong, an experienced litigator who also prosecuted commercial crime cases during his stint as a public prosecutor, commented: 'Where there is a conspiracy between two or more parties, it does make detection of the crime that much tougher.'

The crime was uncovered in June this year when Koh was rotated out of the department, as part of SLA's routine rotation programme.

The new department head, while reviewing past expenditure, felt something was amiss. SLA then reported the matter to the police.

The Commercial Affairs Department (CAD), Singapore's white-collar-crime police, has since recovered much of what SLA lost. BT understands that the discrepancy between what CAD has recovered and what was taken by the two men is due to changes in the values of the assets - such as in the case of Lim's Ferrari, which lost some value after it crashed along Nicoll Highway last year.

Asked why it revealed the matter only now - three months after it was first reported to the police - SLA said: 'We did not go public any earlier as police investigations including the tracing of assets were ongoing. Investigations against Koh are now largely completed . . . and this is the first appropriate opportunity for us to inform the public of the case.'

SLA said it has since beefed up its internal processes to help prevent a recurrence of such an incident, such as requiring an officer from a different department to verify the request to call a quotation, and reducing the financial limit for approval of financial transactions by certain levels of officers.

Disciplinary investigations will also begin in respect of two SLA officers whose oversight might have allowed the fraud to take place undetected. Disciplinary action will be taken, if appropriate, SLA said.

Koh is currently in remand - and has been since June - as he is unable to raise the $1.5 million bail offered to him. He is represented by Ravinderpal Singh and his case will be mentioned again on Oct 19.

If convicted of cheating, under the Penal Code, he could be fined up to $10,000 and jailed up to 10 years on each count. For concealing criminal proceeds, he could be fined up to $500,000 and/or jailed up to seven years.

----------------------------------------------------
Business Times - 29 Sep 2010

The SLA men and their expensive tastes


A Lamborghini and a Ferrari highlighted their taste for life in the fast, flashy lane

By MICHELLE QUAH AND UMA SHANKARI

(SINGAPORE) Little is known about the two Singapore Land Authority (SLA) officers who allegedly made off with $12 million of the statutory board's money.

But Koh Seah Wee and Christopher Lim Chai Meng's supposed actions have now made them notorious.

Both men were named by the SLA yesterday as being suspected of having conspired to cheat SLA of $11.8 million, by awarding fictitious IT maintenance service contracts to 10 companies set up by their friends.

Koh has been charged with 249 counts of cheating and faces jail time and fines, if he is convicted. Lim is assisting the police with their investigations.

Their colleagues at the SLA, who spoke to BT, said the two men were 'meek' and 'docile', and did not share their private lives in the office. They were said to have been really close to each other, spending a lot of time together.

Both were polytechnic graduates made good. They had been seconded to SLA from the Infocomm Development Authority of Singapore (IDA) in early 2008 - and allegedly got to work channelling a substantial chunk of SLA's money to themselves very soon after.

Of the $11.8 million they supposedly siphoned off, much was spent on flashy cars and properties.

Koh bought a $1.6 million Lamborghini, which he registered under the name of his wife, Yeing Nyok Sea, 38. He also bought his mother-in-law, Kok A Mui, a $300,000 Mercedes-Benz coupe.

Lim bought a Ferrari, which he crashed along Nicoll Highway in December 2009 - an accident reported then by The Straits Times. In that report, the Ferrari was described as a 'mangled mess' after it hit a guardrail, then a tree.

An ambulance arrived at the scene at 7.18am, but the driver - named as Lim Chai Meng - was not seriously hurt, other than for some scratches on his arms and forehead.

BT understands that no one in SLA had realised the Ferrari driver was their colleague, as they knew him in the office as Chris Lim.

Both men also took pains to not wear the expensive watches they had bought with their ill-gotten gains to the office.

'They were very subdued, very humble people. There was no indication that they were doing well, materially. They didn't wear branded goods or luxury watches,' an ex-colleague told BT.

The men also spent money on properties - all of which have been seized by the Commercial Affairs Department (CAD). Koh is understood to have bought three properties, one of which was Axis@Siglap along East Coast Terrace. Lim bought two properties.

Koh is also understood to have bought jewellery and handbags for his wife, and put some of the money into unit trusts and bank accounts.

Koh is an ultra-marathoner who took part in the 2008 Sundown Marathon, Singapore's inaugural 84km night marathon, and in the Osim Singapore International Triathlon 2009.

SLA, working together with the CAD, has managed to recover some $10 million in cash and assets from its two former employees.

Just about all of the assets bought with the stolen money has been recovered - with the discrepancy in the value being the result of changes to the values of the assets, such as in the case of Lim's Ferrari, which lost value after its crash.


Print this item

  Where can I find these 2 items....
Posted by: apple_orange - 26-09-2010, 09:32 PM - Forum: Others - Replies (7)

HELLO FELLOW INVESTORS!!

Hope this is the correct place for this thread. I was wondering where would I be able to find a stock screener program for the Singapore exchange? So far I've only been able to find screeners for overseas markets.

And also where do you guys go to find out the PE ratios of indices such as the STI. Which magazines, websites? I REALLY don't want to be calculating it on my own....

Thanks in advance =)

Print this item

  Understanding Y (Generation Y)
Posted by: Musicwhiz - 26-09-2010, 12:44 PM - Forum: Others - No Replies

Sep 26, 2010
Understanding Y

They have been labelled self-centred, restless, job-hopping spendthrifts, but are Gen Y-ers actually a product of society today?
By Sandra Leong

At 24, self-described 'wanderer' Joan knows she is lucky. After graduating from university in Singapore two years ago, she took a gap year to backpack across Europe.

On her return, she tried an online clothing business before deciding a few months ago that she really wanted a media job.

Declining to give her full name for fear of 'jeopardising my career', she says with a hint of embarrassment: 'I'm lucky because I'm young and have no commitments. So I can take my time to find myself and decide the direction I want my life to go in.'

Older Singaporeans would label young people such as Joan as restless, individualistic, overly reliant on their parents and keen to avoid adulthood and its responsibilities at all costs.

Yes, these are some of the afflictions of the much scrutinised Generation Y.

The term Gen Y generally refers to people born between 1977 and 1999. Many are in their early to late 20s, or in their early 30s.

Amid the criticism they attract, one wonders: Are Gen Y-ers misguided or simply maligned? Is it really them or are they what society has shaped them to be?

A recent New York Times article asked: 'What is it about 20-somethings?' In the piece, a psychology professor at Clark University in Massachusetts observes a phenomenon he calls 'emerging adulthood', where social and economic changes have caused an extended adolescence.

These include youngsters staying in school longer because of the increasing need for higher qualifications, putting

off marriage and women delaying pregnancy because of career options.

In Singapore, the state of Gen Y has also become something to ponder.

Cultural critic Kirpal Singh says: 'Of course, each generation will find the next disappointing in some ways because of the fundamental fact of change.

'But there is a difference with Gen Y. I have noticed a growing self-centredness, a sense that 'I' comes first and everyone else is there to help me, serve me. Gen Y individuals are choosy, don't always want to carry their weight and seem frequently to be insolent, even indolent.'

Recent studies here have thrown up worrying observations. In one commissioned by the Tripartite Alliance for Fair Employment Practices, older employees found Gen Y-ers difficult to work with, while another by the National University of Singapore Business School found youths to be rash and impulsive, pre-occupied with the present and reluctant to learn more.

Broadly defining Gen Y as people between the age of 15 and 31 and who number at almost 40,000 - or 20 per cent - of the economically active population here, a 2008 Singapore Human Resources Institute study found the Gen Y workforce to be confident, tech-savvy, unconventional but also restless.

They showed a tendency towards 'scatter-brain syndrome', described as an 'inability to concentrate and focus on one particular thing for long'. Twenty-seven per cent had not identified their profession of choice.

Consequently, job hopping and career switching were norms. Seventy-one per cent of Gen Y respondents in the survey agreed or strongly agreed that it was 'normal' for Gen Y-ers to job hop.

Mr David Ang, executive director of Singapore Human Resources Institute, says: 'It's a case of half-glass full versus half-glass empty. If you say someone is restless, it sounds negative but if you say he is looking for challenges, it's positive.'

Ms Cheryl Liew, chief executive officer of Lifeworkz, a work-life consultancy specialising in generational workforces, says Gen Y-ers fall into two groups.

'One down to earth, willing to work hard and be a team player. The other is in a hurry to learn, be recognised, move on or simply let matters run the course. But if you can find a chance to interest them, they can really be on fire,' she adds.

Mid-career sabbaticals - to travel, go back to school or to simply reflect on life - are becoming commonplace.

Two years ago, Xin Huiwen, 29, left her marketing job to teach English in Japan's remote Shimane prefecture. She says: 'I wanted to experience a kind of life that would be totally different from Singapore.

'I did not see it as being airy-fairy, not just putting my career aside to play for two years. The experience opened my eyes to a lot of things that I take for granted.' She is now looking for a job here that will allow her to use her Japanese language skills.

Finding themselves, both professionally and personally, is an oft-cited goal.

Ms Vivian Tan, 26, says: 'We were raised to believe that we could be anything we want to be, not limited by our circumstances, unlike the post-war generation.'

She is 'exploring options' after leaving a bank analyst job in New York and adds: 'We think about issues such as our quality of life and pursuing our dreams and passion.'

Financial freedom is a luxury that fuels these Eat Pray Love-style pursuits.

Many unmarried Gen Y-ers still live comfortably at home and have few commitments, as reflected by their spending habits. The institute study found the top three expenditures of Gen Y-ers were tobacco/alcohol, mobile phones and food.

The institute's Mr Ang says: 'Their consumption is spontaneous and personal. It can be on the basis of 'want to have it, like to have it', even if they might not have the money.'

Guest relations officer Ahmad Syafiq Roslan, 26, confesses to spending about $1,500 a month, almost his full wages, on his daily and 'personal leisure' expenses. He is a member of a breakdance crew and has about 40 pairs of sneakers in a collection worth about $5,000.

'I like to dress fresh,' he says. 'Some people simply go to town in bermudas and slippers but I believe I should look good as if every day matters.

He adds: 'In our parents' time, they did not have the freedom to splurge on things even if they worked. But young people who have just started working probably feel that now is the time to spend.'

Still, he says he is approaching a 'mid-life crisis' where he is trying to save money. 'At some point, you have to draw the line, except that the line is not very clear now,' he says with a chuckle.

The flip side to this seemingly cavalier attitude towards money is that even with rising affluence, long-term investments such as buying a house are increasingly out of reach. So what else is there to spend on other than the latest Apple gadget?

Ms Merry Riana, 30, financial services director of Prudential Assurance and a Gen Y-er herself, says: 'In some ways, with education debts and house prices going crazy, Gen Y-ers just can't afford to be adults. It is little wonder that private home ownership is an almost impossible dream for many of them.'

Gen Y-ers were raised to focus on potential

Sociologist Paulin Straughan adds that unlike with previous generations, social mobility is harder to achieve.

'As the economy becomes more mature and inequalities become institutionalised, there becomes less room at the top,' she says.

'It's not fair to say that Gen Y-ers cruise through life, as they have to deal with their own sets of constraints in a fairly stressful system as well.'

These struggles have given rise to another 20-something trait: Citing careers as a priority, many have refused to settle down and start a family, much to the chagrin of government planners looking to arrest the low birth rate. National statistics show that over a period of 30 years, the median age of marriage has gone up from 26.9 to 29.8 for men, and 23.1 to 27.3 for women.

Mr Andrew Chow, owner of dating agency Table For Six and former managing agent for the now-defunct national initiative Romancing Singapore, laments that it is more than that: 'Their lists of the ideal partner have nothing to do with the person's character, but how tall they are, what car they drive, what job they have.'

This is a group, he says, that is lulled into a false sense of security about singlehood till it is too late. Marriage is also seen as 'just a piece of paper' and the actual wedding a 'financial blackhole' because of its high costs.

It all sounds like a grim assessment. But then again, are we being too judgmental?

Ms Liew points out that negative stereotypes can also be applied to the Baby Boomer generation, known to be resistant to change. 'But the more people reinforce them, the more they become self-fulfilling prophecies,' she says of the stereotypes.

Gen Y-ers are but products of their time, says Prof Straughan. 'We can't blame them for being self-centred. That's the way we raised them, to be focused on their potential and to rise to their calling.'

So there is little point shaming and blaming, without greater understanding.

Dr Singh says: 'We need to be very careful about how we move forward in terms of the ways in which we relate to the young. They are beautiful and want to do well. Gen Y is our creation and we do need to accept ownership for much of its make-up. We need to truly, really engage.'

sandral@sph.com.sg

Print this item