Singapore - political and financial points

After many visits to Singapore I could proclaim, that Singapore is not truly an Asia. This concept is possible to understand for foreigners, but much harder to understand for normal Singaporean citizen. And once you talk to them you may observe that, the lack of understanding of the real life outside of Singapore.



You work with following conception:
a) Singapore is a free Chinese city with strong regulation and rules

b) Singapore was build on swamp and it was done by one political party

c) Singapore is seeing itself more as a leader in SEA and on Chinese speaking territory + former Indochina. The relationship with India could be better and still who really understands India? Sometimes even real Indians do not.

d) Inter bank interest rate is close to 1%. So far from Malaysia (around 3% KLIBOR), Thailand, Indonesia, China, India .... the only close economies in Asia are Taiwan and Hong Kong ----> this clearly reflects the view of the business man here + people in the finance here once they are not used to international Asian cooperation

e) Expected salary to start with (after university) is 3000 SGD and to be doubled in 5 years later (6.000 SGD +)

f) Costs of the employer are around 15% higher than a salary and employee pays around 10-20% tax (depends on earnings)

g) Tax on personal income is not paid monthly, but yearly. Having it 10% than your pay a 120% of your monthly salary as a tax for whole year -> for this was invented the 13th salary -> so the people actually dont pay their tax for whole year and than they wait for the employer to pay the 13th salary in the end of year / January to pay their taxes!

h) It is considered as proper to bring the small present on the meeting especially once you are invited

i) the election date is unknown even one month before election! -> so different to EU and US approach

j) there are only two "dry feet" connections from Singapore -> two bridges to Malaysia. Third one is planned and still it needs to be confirmed.

k) there are more reclamation plans in Singapore -> look on a map