Australian dollar dives towards a new low against the Singdollar
The Australian dollar has dropped further against the Singapore dollar, pointing towards an all-time low of 1.25, a rate never seen before since September 2001 when it hits 1.18 according to Investing.com.
The AUD has plummeted amid ongoing concern regarding the coronavirus pandemic and could sink further as it takes its toll on the economy.
The historical rates of the SGD/AUD pair from fxtop.com shows it briefly hits 1.18 in 2001 before the AUD started to recover and appreciate against the Singdollar going as high as 0.74:
The Reserve Bank of Australia (RBA) is set to announce measures later today (19 Mar) and could cut interest rates to stimulate growth.
In 2012, S$10,000 can only get you about AUD7,400 — a lot lesser than what the Singdollar is worth today where S$10,000 can get you AUD12,500. It can be good news for those who are planning for a vacation or studying abroad in the Down Under after the pandemic.
Ever experienced selling your pre-loved items online, only to receive underwhelming offers for what is worth much more? You can now get the best value for your luxury bags, timepieces and jewellery with Maxi-Cash E-Valuation service from the comfort of your home.
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Interested in investing in REITs but don’t know where to start?
For starters, it’s going to take a lot of work.
Like. A LOT.
Imagine this.
You just got home after a long day at work.
All you want is a shower, dinner, and to relax.
You wouldn’t want to waste time cooking a meal when you could be catching the latest episode of that new Netflix series that everyone’s talking about.
Source: American Dad | Giphy
And the last thing you would want to do is pore through pages of financial statements or do your own valuation of data just to pick the best Singapore REITs to invest in.
Not that there’s anything wrong with doing that… but wouldn’t you want to spend your time doing something else that you REALLY like?
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If You’re a REITs Investing Noob
If you’re just starting out, you’re probably feeling lost and have no idea where to start when it comes to REITs investing.
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What are REITs?
What are the types of REITs which you can invest in?
A simple 10-step checklist to pick the best Singapore REITs
Feeling more confident now that you know what you’re getting yourself into?
In order to make an informed decision, important information like:
Trading fees charged
Minimum fees charged
Stock holding type (if you’d prefer not to use a custodian account)
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If You Already Know About REITs Investing
The first thing you’ll probably want to do is check up on the fundamentals of the REITs you’re interested in.
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Company Announcements
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AGM Minutes
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Best brokerages available
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Gearing Ratio
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The Seedly REITs Tool Sounds Great and All… but Why Is Seedly Doing This?
The Seedly team believes that everyone deserves to achieve financial independence and freedom.
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If you understand what REITs can do for you and believe that they can play an important part in your investment portfolio.
Then the Seedly REITs Tool is the perfect accompaniment to help you start or make your REITs investment journey a little easier.
So when you come home from work…
Source: American Dad | Giphy
you can focus more on relaxing and collecting dividends.
As you move through your career, seeking out new opportunities, considering a change from one industry to another, one major question might be running through your mind: what are some of the highest paid positions in Singapore?
With our annual market research, we aim to answer that exact question, and we have compiled extensive data on salaries across Singapore in a variety of industries and jobs. We have summarized these results in our Annual Salary Guide. Here are some of the highest paying jobs and industries in Singapore in 2020.
C-Suite Level Jobs
Perhaps it’s no surprise that some of the jobs with the greatest responsibility also have the highest pay. For those in the C-suite: Chief Financial Officers, Chief Finance Officers, Chief Technology Officers, Chief Product Officers and others, salaries vary, but can be as high as S$800,000 per year, depending on the company and the industry. These jobs usually require highly skilled, experienced professionals in their career. Moving down from the c-suite, in other leadership positions such as heads of departments, professionals can expect to make anything from S$200,000 to $420,000 (Head of Sales).
Breaking the analysis down beyond the c-suite, here are a few of the fastest growing, highest paid industries, sectors, functions and the jobs within them.
Financial Services and Fintech
As a whole, the financial services and fintech industry has reported some of the highest salaries. Within the industry, if you’re looking for a new job, our research shows that professionals can expect a salary increase of 10-15% when they switch. Excellent C-Suite executives are high in demand and jobs such as Know Your Customer Analysts are currently among the top jobs in demand.
Jobs within compliance can get you anywhere from S$78,000 (Compliance Officer), all the way up to S$400,000 (Managing Director Compliance). For legal positions within this industry, professionals can expect to make anywhere from S$85,000 (Paralegal) up to $S360,000 (General Counsel).
Technology, Media and Telecommunications
As digital transformation becomes a priority for all organisations jobs in technology are understandably some of the highest paid in Singapore. When switching jobs, professionals have seen up to 15% increase in their salary. A Chief Executive Officer can make up to S$800,000 a year, while outside of the C-Suite heads of departments make the most, for example, within Finance Transformation, a job such as Head of Mergers and Acquisitions can make up to S$260,000 and Head of Tax, S$250,000. A job such as Director Digital Transformation can bring in up to S$204,000 per year and jobs such as Project Managers, Project Architects and Business Analysts earn the highest among this group.
Fast Moving Consumer Goods (FMCG)
Within the FMCG industry, professionals can expect a salary increase of 10-15% when they move into a new position. Within FMCG, a Chief Financial Officer can expect to make up to $400,000. Within Engineering and Manufacturing the jobs that are highest paid include Application Specialist ($200,000), Plant Manager ($260,000) and Regional Operations Managers ($300,000).
Highest paid jobs
These are the highest paid jobs in Singapore in 2020. As shown in the results, it pays to continue to work your way up, moving into industries that interest you and aim high when making career transitions.
There is a scarcity of resources wherever you look. Toilet papers are flying off the shelves like the migratory Great snipe. People are typically seen hoarding cleaning supplies such as disinfectant sprays, antibacterial wipes, hand sanitizers, and so on. It is difficult to source out masks too!
With the scarcity of supplies, travel restrictions, and the limited capacity to work, the global COVID-19 pandemic has affected the economy in more ways than one. Last week, Wall Street plunged with Dow Jones confirming a bear market for the first time since the 2008 financial crisis. The escalating health fears sent the stock market into a nosedive, which is its worst state since the 1987 market crash.
The Dow Jones Industrial Average fell 1,464.63 points, bringing it 20% below its record set last month. This is what Wall Street calls a “bear market”. A bear market is a condition in which securities’ prices go 20% down or more from its recent highs. It is usually due to the widespread pessimism and negative investor sentiment. S&P 500 lost 140.84 points, which is just 1% point away from falling into the bear territory. While, Nasdaq Composite dropped 392.20 points.
Stocks dove even lower after the World Health Organization declared the virus outbreak as a pandemic. Stock prices reflect expectations of future profits and investors heavily perceive that the virus can reduce profits. Thus, a huge number of investors sought for the coordination of governments and central banks around the world to help control the economical threat of this virus. Until the extent of the decline is clearer, the natural reaction of many is to sell stocks.
The economic trajectory that seemed reasonable a few months a go is not going to be the same for a few months or a year. The wave of corporate conference cancellations, music festival cancellations, directives to work from home, and travel bans will exact a cost on businesses. Airlines, industrial companies, small businesses, educational establishments, service industries, and tech companies are all affected. We are all affected because the spending habits of consumers drive much of our economic activity.
Image Credits: unsplash.com
How long will this economic disruptions last and how deep will the economic market go?
