SINGAPORE - Personal account for foreigners

In Singapore is important:
1. KYC. Know your customer. I would like to advise you to meet with advisor to discuss this topic once you are not professional. It will be another sign you understand Singapore
2. "Not too small to go". Limit is around 350.000 SGD to put on account
3. Give it time. It make take up to week or two.
4. Prepare and ask. Do not go to the bank unprepared.
5. Understand the fee structure.
6. Be careful of your passport. You dont need to work in SG to have account there.

Singapore - shop experience

To compare the experience in a shop between countries may be a clue to compare between service on a financial products.

They say, the good way to test the service is to purchase anything in the shop and than try to change it. You will sense the difference once you dont bring any additional income to the shop, just a headache. Goods u try to return is usually opened and therefore it needs to repacked. Also you need to be sure, that this time you pick up a proper goods you want to change. And also you may buy something cheaper, just as u changed your mind.

Singapore outcome test 1 shopping mall Jurong east. Change the goods no problem on a cashier. Person sick, she can not have holiday, but still friendly and helpful. Staff on a customer service very helpful and professional. Staff on a goods section apologies, that they dont have the colour you want. And then she helps u with the other colour. If you good is cheaper than before you need to select additional staff to make up the difference.

A believe approach in financial products will be the same. People work more than they should (cashier), smiling and professional (customer service) but strict on the acceptable rules (money back limits).

SINGAPORE - webpage desing

To open a proper webpage is something to considered deeply. Especially for a new companies on a market (not necessary new companies internationally) and specially for financial institutions. Things you shall be avoiding:

1. "Low risk, high return" statements. It sounds more like a miracle and the big guys a self-centered so much, that they would believe if there will be such an opportunity they would have find it. And invested in it. Also in developed economies, places where is a lot of official money, is high return a red flag

Different consumer risk approach - maturity of the payment

Once we focus on the maturity of the payment it is crucial to see, if it was not overdue, how long overdue it is, what is the amount, was the first payment paid down, what is the product of the payment, who is the client, how big was the loan, that is paid.... Statistical methods would be able to recognise the important factors. It is also necessary to find out when the factor will become irrelevant or, on the other side relevant to the future. No always there is a linear covariance between debt maturity and probability  that such a debt will be paid. For example having 2 years old payments not being paid could be more probable than 6 months. Reason for being so is, that the financial or economical status of the client could change. Also such a debt is written off, therefore any next payments are a positive income.

Singapore - Consumer risk managemenet

Once measuring the risk of the consumer I always want to focus on following:
1. What i the real truth.... not what somebody tells me or somebody can fake
2. Once anything is faked what is faked and what is the pattern of it
3. Look on the real/described data in the region

For the real truth in the consumer risk business in finances I seek the flow, cash flow as the truth. It is a combination of having ablitity to pay and willingness to pay. It seems like once there is ability the willingness is 100%. That is proven to be wrong and it is usual, that rich people pay its debts latest and always look for the way to avoid paying them.

Also no ability to pay doesnt mean no willingness or even no payment at all. I consider, that every living person does generate. If it is a small cash flow, small flow of other services and goods. Connect to the flow and the willingness will transfer to ability and than to solution.

Sout Eastern Asia consumer risk management

Consumer risk management

- managing the risk of the consumers is essential for every company focusing to sell the product to final customer. Such companies could be cell phone producers, service prividers, motorcycle producers, banks, electronics producers, education providers, investment companies, insurance companies, furniture industry....

SEA region

Amazing about SEA region is the variability, size, amount of people, growth, connection to real business and trade and overall openess to investment. Also different governments allow to grow by different approach not praising one political party or interest.

Risk of the region-customer

By risk I define the probability of the consumer once service or product sold with payment term to follow that payment term and be able to keep its promise and therefore not push the provider to write off.

Advantages

Every company able to find proper solution will be able to sell more in the region with the price not being the only concern. And therefore to earn more money and become bigger more easy. As the margin will grow and marketing investment could grow too.

SINGAPORE - financial company principle

Being in Singapore as financial company is expecting you to be conservative. Reason for being so is the amount of cash to such projects (incoming). Once we consider the volatility of the company together with future cash flow it will be always preferred to seek a stable year per year cash flow. Every time you exceed the profit by 5% and than later u keep the profit on previous amount it will be foreseen the decline of the profit in next years. Only if you are able to increase the profit by 5% every year that formula will be followed. Therefore, before spending too much time on a artistic financial planning keep your data, webpage for investors, financials stable and try to find the answer on the future problem before the problem happens. Cash flow problem happens. It might be a good idea to separate risky project to new company or deal with the additional cash flow need by payment terms of suppliers. Keeping stable, keeping foreseen is always a sign of management.

Building a webpage
Building a webpage for your investors is an amazing example of that. No fancy adds, no crazy moving pictures, half naked women. You may keep that for customers. Investors deal with cash and everything trying to distract them will be kept as a bad sign. Telling, that u want to hide something, or even worse, wasting the resources on contra productive action. If you are not sure of the numbers it will be better not to show the number. Or just describe them as the numbers changing in time. Try to focus on BEPs, so called points of chance. Where my profit will become negative, what is the main value to influence cash flow, why my plan for future is to grow, what is it dependant on. You would need to use Excel. Use it wisely to find key points. And than you will, on your own, see the future challenges.

Amount of data on webpage
Webpage for investors has to be factual. Numbers need to correspond to each other. Be careful of changing one table but leaving old data in text. Provide Assets, Liabilities, Profit and Loss. Add cash flow. Use percentages to influence the outcome. Use year to year comparison to see the trends. Use deltas to see absolute value. And use nice, soft colors. This is not a flower shop to collect all the colours. The main idea is to be correct and simple to observe.