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Thread: A few CCR transactions sold at a loss (reported in The Edge)

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    Solitaire

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    If MAS actions against BSI, the few 1MDB-linked bankers, and seizing of the properties linked to Jho Low are not actions against money laundering, what is it?

    Looks like what you said contradicts with FACTS.......................

    It is the actions of those so-called so righteous people, including USA Department of Justice that doesn't even dare to name the name of the person and just use "Malaysia Official 1" that is pretentious enough! Is Canada also like that??? Seems like it you know, filled with the kind of people like you?

    Even is Singapore is haven for corrupt businessmen of China and Indonesia, they will also only buy CCR and not OCR like Crapbelle, so there is no guarantee Crapbelle will not fall to $500+ psf in next recession (since no support from these rich businessmen)..............

    Quote Originally Posted by stalingrad View Post
    Not going to happen, as I said. Singapore has been and will continue to be a haven for corrupt businessmen of China and Indonesia, and perhaps even Vietnam and Thailand. When MAS says that it is against money laundering, I seriously doubt it means it.
    Quote Originally Posted by teddybear View Post
    If Rivergate hit $1000 psf, Crapbelle will hit $500 psf again? Oh no no!!!!!!!!!

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    Quote Originally Posted by teddybear View Post
    If MAS actions against BSI, the few 1MDB-linked bankers, and seizing of the properties linked to Jho Low are not actions against money laundering, what is it?

    Looks like what you said contradicts with FACTS.......................

    It is the actions of those so-called so righteous people, including USA Department of Justice that doesn't even dare to name the name of the person and just use "Malaysia Official 1" that is pretentious enough! Is Canada also like that??? Seems like it you know, filled with the kind of people like you?

    Even is Singapore is haven for corrupt businessmen of China and Indonesia, they will also only buy CCR and not OCR like Crapbelle, so there is no guarantee Crapbelle will not fall to $500+ psf in next recession (since no support from these rich businessmen)..............
    Well, MAS basically has turned a blind eye to money laundering until the most recent, prominent case to which it can not turn a blind eye. I lived in Singapore for 17 years, and my wife worked in securities industries. I saw money move into Singapore from questionable sources on a daily basis, and basically Singapore welcomed every penny what washed up its shore, until recently. As August said, what Singapore does is entirely different from it says. The worst part is that Singapore doesn't give a darn what its neighbors say about its open door to offshore ill-gotten money. If you disagree with me, just ask yourself how many luxury condos in CCR are 90% sold to Indonesians and Chinese, who don't even live in Singapore.
    Last edited by stalingrad; 27-07-16 at 00:32.

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    Questions to you:

    1) How can you see if you have not worked in many of the banks and is in charge of money flow over these many banks? What you said seems like what you "think" rather than "facts"?


    2) Luxury condos in CCR 90% sold to Indonesians and Chinese?

    Ok, What I can tell you is that:
    a) It is not true that CCR luxury condos 90% sold to Indonesians and Chinese!

    b) Why would you always associate Indonesians and Chinese with illegal money? There are lots of people earning illegal money all over the world, and there are lots of them in Canada as well (including 1 famous case of Barrick Gold based in Canada scamming many investors off their money with fake gold deposits!)

    c) It is NOT TRUE that Indonesians and Chinese don't even live in the CCR luxury condos they bought, because they do when they are here on business trip and holidays, and some for their family members or their children to study here. (I know this very well because I live in CCR with these people as neighbours, and I see for myself that either they are occupied by their family members very often with children studying here or they leave their properties vacant so that they can come back anytime without having to live in hotels (may be they believe spending money on hotels then is real waste of money?)).


    So, I back up what I said with FACTs based on what I saw, but you are just making baseless comments based on your own personal skewed opinions!

    Quote Originally Posted by stalingrad View Post
    Well, MAS basically has turned a blind eye to money laundering until the most recent, prominent case to which it can not turn a blind eye. I lived in Singapore for 17 years, and my wife worked in securities industries. I saw money move into Singapore from questionable sources on a daily basis, and basically Singapore welcomed every penny what washed up its shore, until recently. As August said, what Singapore does is entirely different from it says. The worst part is that Singapore doesn't give a darn what its neighbors say about its open door to offshore ill-gotten money. If you disagree with me, just ask yourself how many luxury condos in CCR are 90% sold to Indonesians and Chinese, who don't even live in Singapore.

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    Quote Originally Posted by teddybear View Post
    Questions to you:

    1) How can you see if you have not worked in many of the banks and is in charge of money flow over these many banks? What you said seems like what you "think" rather than "facts"?


    2) Luxury condos in CCR 90% sold to Indonesians and Chinese?

    Ok, What I can tell you is that:
    a) It is not true that CCR luxury condos 90% sold to Indonesians and Chinese!

    b) Why would you always associate Indonesians and Chinese with illegal money? There are lots of people earning illegal money all over the world, and there are lots of them in Canada as well (including 1 famous case of Barrick Gold based in Canada scamming many investors off their money with fake gold deposits!)

    c) It is NOT TRUE that Indonesians and Chinese don't even live in the CCR luxury condos they bought, because they do when they are here on business trip and holidays, and some for their family members or their children to study here. (I know this very well because I live in CCR with these people as neighbours, and I see for myself that either they are occupied by their family members very often with children studying here or they leave their properties vacant so that they can come back anytime without having to live in hotels (may be they believe spending money on hotels then is real waste of money?)).


    So, I back up what I said with FACTs based on what I saw, but you are just making baseless comments based on your own personal skewed opinions!
    Those are facts? Ha, don't make me laugh. My fact is there for all to see. So many corrupt Chinese officials have been caught with condos in Singapore. Just google. Here is one to catch your eyes: http://www.bloomberg.com/news/articl...at-or-fall-guy

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    Quote Originally Posted by stalingrad View Post
    Those are facts? Ha, don't make me laugh. My fact is there for all to see. So many corrupt Chinese officials have been caught with condos in Singapore. Just google. Here is one to catch your eyes: http://www.bloomberg.com/news/articl...at-or-fall-guy
    They are everywhere, including Canada and the United States

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    Quote Originally Posted by stalingrad View Post
    Well, MAS basically has turned a blind eye to money laundering until the most recent, prominent case to which it can not turn a blind eye. I lived in Singapore for 17 years, and my wife worked in securities industries. I saw money move into Singapore from questionable sources on a daily basis, and basically Singapore welcomed every penny what washed up its shore, until recently. As August said, what Singapore does is entirely different from it says. The worst part is that Singapore doesn't give a darn what its neighbors say about its open door to offshore ill-gotten money. If you disagree with me, just ask yourself how many luxury condos in CCR are 90% sold to Indonesians and Chinese, who don't even live in Singapore.
    your statement of 90% of luxury condos in CCR being sold to Indonesian and Chinese is absolutely baseless
    Why can you see questionable fund flow while you taught in school? I see some ethical issue here with your information source and you, but anyway, it is good that this is Canada's problem now.

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    Quote Originally Posted by Spincity1 View Post
    They are everywhere, including Canada and the United States
    Talk is cheap. I want facts.

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    Quote Originally Posted by Spincity1 View Post
    your statement of 90% of luxury condos in CCR being sold to Indonesian and Chinese is absolutely baseless
    Why can you see questionable fund flow while you taught in school? I see some ethical issue here with your information source and you, but anyway, it is good that this is Canada's problem now.
    Nothing to do with my job. I have eyes, ears, and I have friends who have friends. Everyone knows how money flows into Singapore and how happy Singapore was to get that money no questions asked.

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    Ha ha ha! Pot calling kettle black didn't you?
    Same same, these also applies:
    "Everyone knows how money flows into Canada / USA / Taiwan / ??? and how happy these country was to get that money no questions asked."

    And to think USA is so pretentious, calling themselves upholding money laundering law but yet doesn't even dare to reveal officially who is "Malaysian Official 1" who laundered about US$700+M into his own personal bank account through US banks???

    Quote Originally Posted by stalingrad View Post
    Nothing to do with my job. I have eyes, ears, and I have friends who have friends. Everyone knows how money flows into Singapore and how happy Singapore was to get that money no questions asked.

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    Quote Originally Posted by stalingrad View Post
    Nothing to do with my job. I have eyes, ears, and I have friends who have friends. Everyone knows how money flows into Singapore and how happy Singapore was to get that money no questions asked.
    i thought you want fact? why don't you show some fact?

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    Quote Originally Posted by stalingrad View Post
    Talk is cheap. I want facts.
    you always talk without fact, unless you can show me the proof for "luxury condos in CCR are 90% sold to Indonesians and Chinese, who don't even live in Singapore."

    Don't you know that there were Chinese businessman and officials been deported from Canada, and much more still hiding in US and Canada?

    I suggest you spending more time on your own news

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    Quote Originally Posted by Spincity1 View Post
    you always talk without fact, unless you can show me the proof for "luxury condos in CCR are 90% sold to Indonesians and Chinese, who don't even live in Singapore."

    Don't you know that there were Chinese businessman and officials been deported from Canada, and much more still hiding in US and Canada?

    I suggest you spending more time on your own news
    wah lau power..

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    Marina Bay Suites

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    Bought in 2009 also lose $$.. Jialat.
    How everyone find the property sentiments?

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    The Rich has lots of opportunities to buy CHEAP CHEAP, thanks to property cooling measures!

    The average middle-income has no change to buy OCR private condos cheap cheap, somehow the support in OCR is strong there for now, but no promise that it will remain the same in the future............

    Quote Originally Posted by Werther View Post
    Bought in 2009 also lose $$.. Jialat.
    How everyone find the property sentiments?

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    Quote Originally Posted by Werther View Post
    Bought in 2009 also lose $$.. Jialat.
    How everyone find the property sentiments?
    not going anywhere it seems. now and then a bargain pops up in CCR resale but the duration of wait seems to be getting longer. in the meantime i wonder who snapped up all the OUE Twin peaks/ardmore 3/d'leedon/interlace/skyline residences.

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    Quote Originally Posted by bargain hunter View Post
    not going anywhere it seems. now and then a bargain pops up in CCR resale but the duration of wait seems to be getting longer. in the meantime i wonder who snapped up all the OUE Twin peaks/ardmore 3/d'leedon/interlace/skyline residences.
    Someone I know bought Ardmore 3. New rich. Sold off biz, got a big sum of $$, I do not know how much but bought few units. So lucky

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    Quote Originally Posted by Werther View Post
    Someone I know bought Ardmore 3. New rich. Sold off biz, got a big sum of $$, I do not know how much but bought few units. So lucky
    so apparently sg ccr is still a parking place for cash. with everything going nowhere (or in oil's case, jia lat) anyway, rich continues to have a preference for parking in ccr property where they can feel and touch. lol.

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    My agents told me the rich are buying up freehold landed, CCR units. Use daughters, use Sons and even use parents name to buy to avoid ABSD. This is the time the richer group can come and sweep. If not enough names to use, they go for decoupling. Is ABSD working well on this group?

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    Curious as to whether funds have started to reinvest in Singapore CCR - anyone heard in the market?

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    And they can buy it CHEAP CHEAP because the CCR property price has CRASHED!

    Quote Originally Posted by bargain hunter View Post
    so apparently sg ccr is still a parking place for cash. with everything going nowhere (or in oil's case, jia lat) anyway, rich continues to have a preference for parking in ccr property where they can feel and touch. lol.
    Last edited by teddybear; 03-08-16 at 14:54.

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    What is ABSD?
    ABSD is property cooling measures, and it has helped to CRASH CCR private property prices, so obviously ABSD is working perfectly well!

    What you should be asking is, why is ABSD and TDSR + all other property cooling measures NOT WORKING and NOT having any effect on the price of OCR private condos (which is currently near ALL TIME HIGH since Singapore come into existence)?

    Quote Originally Posted by stl67 View Post
    My agents told me the rich are buying up freehold landed, CCR units. Use daughters, use Sons and even use parents name to buy to avoid ABSD. This is the time the richer group can come and sweep. If not enough names to use, they go for decoupling. Is ABSD working well on this group?

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    Quote Originally Posted by teddybear View Post
    What is ABSD?
    ABSD is property cooling measures, and it has helped to CRASH CCR private property prices, so obviously ABSD is working perfectly well!

    What you should be asking is, why is ABSD and TDSR + all other property cooling measures NOT WORKING and NOT having any effect on the price of OCR private condos (which is currently near ALL TIME HIGH since Singapore come into existence)?
    Low interest rates make leverage (using bank or not your own money to buy something) extremely attractive today. I reckon any cooling measures are not to crash any market and I do not see that happening too. To me 30% or more price correction that happened suddenly or within 2 quarters would qualify as a crash.

    The rich are using this leverage to buy since its 'cheap money' ever since quantitative easing started during the '09 great depression. Cooling measures are somewhat directed at this primarily. Similar ABSD implementation: In Canada, 15% is slapped on recently. This is a global phenomenal to stock up and to shift money around. https://www.theguardian.com/world/20...use-buyers-tax

    2 cents,
    PropVestor

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    Quote Originally Posted by stl67 View Post
    My agents told me the rich are buying up freehold landed, CCR units. Use daughters, use Sons and even use parents name to buy to avoid ABSD. This is the time the richer group can come and sweep. If not enough names to use, they go for decoupling. Is ABSD working well on this group?
    heard that ABSD need not be paid if you are buying using names of underaged kids by putting it in a trust. the catch is that the ppty cannot be sold till they are 21 and must use full cash to buy. anyone else heard of this stunt? perhaps the rich are doing that.

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    https://www.iras.gov.sg/IRASHome/Oth...p-Duty--ABSD-/

    If A purchases a residential property to be held in trust for the beneficial owner (B), the property will be included as a count for B.
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    Quote Originally Posted by bargain hunter View Post
    heard that ABSD need not be paid if you are buying using names of underaged kids by putting it in a trust. the catch is that the ppty cannot be sold till they are 21 and must use full cash to buy. anyone else heard of this stunt? perhaps the rich are doing that.
    Ok next CM lining up...
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    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    rich should make more babies. at birth register birth cert/set up trust/exercise option at the same time. hahahahahahahahaha.

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    Quote Originally Posted by teddybear View Post
    What is ABSD?
    ABSD is property cooling measures, and it has helped to CRASH CCR private property prices, so obviously ABSD is working perfectly well!

    What you should be asking is, why is ABSD and TDSR + all other property cooling measures NOT WORKING and NOT having any effect on the price of OCR private condos (which is currently near ALL TIME HIGH since Singapore come into existence)?
    When I read your posts, Teddy, I don't know whether to laugh or cry. CCR properties are crashing but not OCR ones for one simple reason. Singapore is equalizing. Wherever you go, you see the same boring stuff, hawker centers, shopping and...

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