Hyflux Some foreigners had a hard time in Singapore
Mr. H was in his fifties. He sold his house in Germany and migrated to Singapore under the investor scheme. He was given a 5 year residence, subject to renewal.

He bought a property and started a business. The business was not successful.

On expiry, the residency was not renewed. He had to leave Singapore.
He tried to sell his residential property, but the market is bad. He had to suffer a capital loss. He rented out the property and obtained a miserable return.

He invested in the Hyflux preference shares. He thought that it was safe, as it was approved for sale to retail investors and could be bought from the bank's ATM machine. His investment in the preferential shares is almost gone.

He still holds some bonds from StarHub. He asked me if this bond is as risky as Hyflux. I told him that I would study the financials and give him my views.

Shhh, I did not tell him that I would consulting my crystal ball.
Mr. H is one of the foreigners who did not do well by migrating to Singapore. He would have been better off if he had migrated to some other country.

In spite of this unhappy situation, Mr. H is still quite positive towards Singapore. He did not harbor any bitterness.

I like to share this sad story with my sinkie friends. We should not be xenophobia towards foreigners. Some of them also had a bad time.
I met Mr. H when he consulted me about the Hyflux preference shares. We became good friends.

Tan Kin Lian
 

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