Salary.sg Forums - View Single Post - How much are you earning per annum?
View Single Post
  #1104 (permalink)  
Old 25-12-2011, 08:52 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Wiseman1 View Post
Two things for you to be conscious of:
(1) All these ultra rich folks, quite a big proportion are engaged in illegal business activities and money laundering, if they are business owners of big listed companies, then yes they are truly wealthy, but if they tell you they own proprietary businesses in less developed third world countries, then it is highly likely their monies come from dubious sources, so there is no need for you to feel inferior to them or look up to them. What's there to be proud of being involved in criminal activities??These guys are going to get into trouble in a matter of time.
(2) I dont think anyone here ever doubt the kind of monies that property agents are making, you do the math and you would know it is quite reasonable for most agents to make just under 10K per month, given the high volume of property transactions in the past couple of years. What needs to be highlighted is that the 10k income is before deducting overhead costs such as advertising fees, agency membership fees, property database subscription fess as well as huge mobile phone bills. Plus there are no employer CPF contributions, medical/insurance benefits and paid vacation/leave benefits. So the entire package is not as good as it sounds....
The fact remains that there are thousands (low thousands though) making a million and more a year, and these people are legitimately reporting to Iras their income. Don't begrudge the rich. Thought some as you say make their mark from dubious sources, but I believe most work their way up the proper legit way.

I'm not sure about Indonesians though... (there's an ex-morgan stanley chief economist by the name of Andy Xie who claimed that Singapore is a "money laundering centre for corrupt Indonesian businessmen and government officials" - this was reported in Bloomberg no less: Morgan Stanley's Xie Quit After Singapore E-Mail (Update5) - Bloomberg )
Reply With Quote