DBS cutting staff...

[Newbie_driver]

[Newbie_driver]

especially the MNC....

[Chongster]

citibank managed by indian boss also doing the same thing...

i am just worried that so far everyone has been proven far far too optimistic in this crisis. esp. in singapore.

now i shudder when i hear singapore political or business leaders make any positive sounding statement.

[Freestylers09]

my company still urgently employing people [gossip]not all sectors i guess

 

actually other banks also slashing people..just that maybe the number of people not so much locally..thats why never publish

Edited November 9, 2008 by Freestylers09

[Cheekg98]

i think isngapore govt a few beats behind now ... they have yet to act by introducing economic stimulus package ...

worst of all, own national bank has started the retrenchment first ...

[Cheekg98]

what's yr company ? which industry ?

[Freestylers09]

deal in properties

[Cheekg98]

i toto property also slowing down, prices and rental starting to fall liao ...

 

when banks dont give out loans, property mrkt sure slump ...

[Chongster]

i still remember last year after bearn stern, someone from i think fullerton fund management (related to temasek) said a major bank failure usu. means crisis has bottom out.

 

we know how disastrously wrong Temasek and GIC has got with UBS, Merrill etc.

 

MM and his talk about golden period.

 

PM and his talk about a U or V shape recession.

 

Las Vegas Sands and its troubles.

 

Singapore going recession first among asian countries.

 

all the talks about jobs and FTs will shield us, and now DBS first to retrench.

 

this is obviously bigger than all their estimation put together; my concern is that they are still trying to talk down the problem into something they can deal with, when it is obviously bigger.

[Cheekg98]

i think Temasek in deep trouble too ... its investment in one of australia company went bust too ... i think the name of co is ABC learning centre ???

 

as for IR, SG govt sure support one cos' it cannot go bust too ... if not, they will be slapping their own face

[Throttle2]

ABC is sup sup suay....small investment compared to the bigger scheme of things.

[Freestylers09]

i think development and selling affected more

 

those fully occupied one not so jiak lak...coz the contracts are on going in the lease de ma.e.ven people dont pay up,dont forget got deposit and banker guarantee one

 

recent report on the increase in income,i still hoping whether got increase in bonus anot

[Throttle2]

tighten your belt, dude.

 

I'm not in real estate but i'm tightening too.

 

too fat no good heheh

[Freestylers09]

lets hope everything pick up back soon...but in doubt...of coz muz stay positive

 

i still like 2007 8 buay huat man..keke

[Throttle2]

sorry to disappoint you.

 

Hope is one thing, False Hope is another.

 

It WILL not pick up soon. At least 2 years of down tempo in the real job market.

This will lead to slowing down of everything. Then the building up of demand will take about 3 yrs. including the overlap in lead time, i forecast we need 4 years to get out of this rut.

Edited November 9, 2008 by Throttle2

[Cheekg98]

better not be too optimistic ... today's papers show record # of units for rental ...

[Cheekg98]

ABC is sup sup suay....small investment compared to the bigger scheme of things.

wow, a few hundred million dollars ah ...

[Throttle2]

yup, those who think property is self paying, just down small deposit, buy and rent out are going to be whacked upside down in the coming months.