Forent talent Anton Casey and the stench of public transport on him

Karma is a bitch and Singapore based foreign ulta-talent Anton Casey learned it the hard way. Days after he has made a video telling "Don't be angry at me, be angry with your mum and dad for raising you a wuss", he had to do something which he probably would say only wusses do: He has publicly asked forgiveness from the millions he obviously looks down from his ivory Sentosa Cove tower.

"Daddy, where is your car and who are all these poor people?" Daddy, very talented and thanks God rich British expat Mr. Anton Casey, has departed from her baby (not an ordinary machine poor people would buy but of course a Porche) for a while and was unfortunate to use public transport in those dark days. He later shared his unfortunate experience among "poor people" in his Facebook:

"Ahhhhhhhh. Reunited with my baby. Normal service can resume, once I have washed the stench of public transport off me FFS" (FFS means For Fuck's Sake if you do not know).

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Update : Anton Casey fire by CrossInvest Asia:

Crossinvest Asia is deeply concerned by the recent comments made by Mr. Anton Casey on social media which have caused great distress amongst Singaporeans. Those comments go against our core corporate and family values that are based on trust, mutual understanding and are respectful of diversity.
Crossinvest Asia is a family business which has been built here in Singapore. The online comments made by Mr. Casey do not represent the culture that we have built over many years.
Accordingly, Crossinvest Asia and Mr Casey have parted ways with immediate effect.
Source : Crossinvest (Asia) Pte. Ltd. Facebook page post

Anton Casey left Singapore for Perth with his wife, former Miss Singapore Universe pageant winner Bernice Wong and their 5-years old son early Friday morning with a Singapore Airlines flight.

According to Daily Mail, Singapore is home to about 50,000 British expats and any are hired by multinational banks on lucrative packages and are notorious for ‘Hoorah Henry’ antics (a British English slang to describe a British male who exudes loud-mouthed arrogance and an air of superiority):

A senior British banker, who has lived in Singapore for 15 years, said: ‘Casey is a pillock but unfortunately there are plenty of idiots like him with too much money and attitude. ‘The public mood is very ugly. All the major banks have given informal warnings to their expat staff  to cut back on the champagne and partying until this all blows over.’

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Mr. Anton Casey a senior wealth manager who lives in Singapore with his Singaporean wife, former Miss Singapore Bernice Wong, and their son has now something else to worry about. His posts did not go unnoticed and went viral in the net. Criticism mounted after the posts went viral on Monday, with some angry netizens digging up Mr Casey's home address, place of work, and his home- and mobile-phone numbers.

"I would like to extend a sincere apology to the people of Singapore," he later said in a statement. He added that in the past 24 hours, the writer's family and, especially, his five-year-old son had "suffered extreme emotional and verbal abuse online".

The Talented Mr. Casey and his ultra talented Facebook post

Anton Casey's son in his baby and in an MRT train next to a poor person. Luckily, the car is working again so they won't need to travel with the poor again.

Other than the Facebook posts a video showing him with his son also angered netizens. "Don't be angry at me. Be angry with your mum and dad for raising you a wuss." says Casey in the video. It was mentioned online to have been made after Casey's comments on public transport, though he has denied this. "It must be made extremely clear that a YouTube video of me, with my son in the background, was not posted in response to any recent events. This video was made weeks prior and has been misused to portray me as unreprentant," he said.

Before he has deleted his Facebook page, some netizens had digged into its content and fished out some other offensive posts like one where he called a Singapore male cabbie a "retard" for wearing arm warmers and mittens and having a towel on his lap. "After 11 years of residency, I am still trying to understand THESE people!" he added (well even if you live 1,100 years in your expat bubble you will not have any clue about anything in the community you live in).

According to Yahoo SG, a male expatriate who got to know Casey and his family over the past several months told Yahoo Singapore that the wealth manager had a very British sense of humour, which can be very scathing, "but it can cross lines and it did cross lines". "I had to defriend him on Facebook because I couldn't stand the rubbish he was writing about all sorts of people," the expat said, adding that Casey's wife and son though were "sweet".

Later, The Real Singapore has published a statement from Crossinvest Asia, the employer of Anton Casey. The statement by Christophe Audergon, Managing Director at Crossinvest Asia, says:

Crossinvest is aware of recent comments made on social media by one of its employees which some Singaporeans have found offensive. Crossinvest does not condone the offending comments. We believe they were made in poor taste. Crossinvest has clear policies regarding the codes of conduct expected of its employees. That code of conduct extends to social media. We are currently investigating the comments made by our employee and will take appropriate action once we are in possession of all the facts.

The case even caught attention of Singapore Government. Law and Foreign Affairs Minister of Singapore K Shanmugam on Thursday deplored the online posts of British wealth manager Anton Casey, calling them "deeply offensive, wrong, and unacceptable":

I have been asked what I thought of Mr Anton Casey and his statements. Like many Singaporeans, I am terribly upset and offended by what he has posted. Deeply offensive, wrong, and unacceptable. 

Those who have done well in life should always be looking out for others - especially the less well-off or needy. It is basic human decency. Instead Mr Casey showed contempt. Having money and a Porsche, does not automatically mean that one is superior. Character is important.
I am glad the community has come together to condemn what he has said. 

He has attempted to apologise to Singaporeans. But some feel that the manner of his apology showed a lack of sincerity. And I think there is some basis for thinking that. 

At the same time, I hope that Singaporeans will not attack or flame his family because of his actions. We, Singaporeans, can be bigger than that.

By the way, The Tuckshop bar in Geyland now has a Wanker Special inspired by the case of Anton Casey. $120 Pints for Anton Casey and $12 pints for the rest of us poor Singaporeans :)

Photo - Mothership sg

Singapore moves down to 8th most expensive location in Asia as cost of living falls

Singapore has dropped two places to become the region’s 8th most expensive location for expatriates, while retaining 31st position globally. This is according to the latest Cost of Living survey from ECA International, the world's leader in the development and provision of solutions for the management and assignment of employees around the world. This survey compared the year-on-year movement between September 2012 and September 2011 data.

While Singapore has dropped down the regional ranking, globally it has maintained its position due to the movements of other locations worldwide. For example, while Beijing (22nd globally) and Shanghai (26th), are now more expensive than Singapore. Paris (42nd) and Rio de Janeiro (64th) are now cheaper – largely a result of the weakening of their currencies against other major currencies.

Hong Kong has also leapt up the rankings and is now just below Singapore. Tokyo retains its position as the most expensive location in Asia and the world.

Lee Quane, Regional Director, Asia, ECA International said, “While the cost of ECA’s representative basket of goods and services in Singapore increased by 2.7% over the past 12 months,  this rate is well below the regional average of 6.5%. It is also significantly lower than the 5% increase we’ve witnessed in China over the year. This, together with the fact that the Renminbi has strengthened against many currencies, including the Singapore dollar, in the same period is making Chinese locations increasingly expensive. This could be stripping them of the competitive edge they once had over other locations in Asia as companies looking to set up in the region might think twice, now, about posting staff to China.”

Living costs for assignees are affected by inflation, availability of goods and exchange rates, all of which can have a significant impact on assignee remuneration packages. To help multinational companies calculate assignment salaries, ECA carries out two Cost of Living Surveys per year, comparing a basket of consumer goods and services commonly purchased by assignees in more than 400 locations worldwide.

“Certain living costs such as accommodation rental, utilities charges, car purchases and school fees are not included in this survey. Although such items can have a significant effect on overall cost of living, they are usually compensated for separately in expatriate packages so this data is researched and published separately,” explained Quane.

Hong Kong catching up with Singapore
While there has been no movement in the global ranking for Singapore, Hong Kong has jumped 26 places up the list of most expensive cities. The Special Administrative Region is now the 32nd most costly location for international assignees – just one position below Singapore. A year ago items in ECA’s cost of living basket cost 8% more in Singapore than in Hong Kong. Today, the prices in Singapore are only 0.4% more expensive.

"This year we have seen the cost of items in ECA’s shopping basket in Hong Kong increase 6.7% - much higher than the price inflation observed in Singapore and higher than the regional average increase” said Quane. “This, along with the Hong Kong dollar’s peg to a stronger US dollar is making the SAR more expensive for many companies sending employees there on assignment.”

Asia region highlights
Over the past three years, Asian locations have climbed up the global ranking. Nine Asian locations now feature in the top 50 most costly locations for international assignees worldwide. In 2009, only four did, none of which were Hong Kong, Singapore, Beijing, Shanghai or Seoul.

Tokyo is still the most expensive location in Asia and globally – despite Japan being the only location in Asia to experience price falls this year. On average, prices of items in ECA's Cost of Living basket for Asia have increased by 6.5% – significantly less than last year's average increase of 8.2%.

While Hong Kong and mainland Chinese locations have seen some of the biggest leaps up the Asian ranking this year, some of the region’s biggest falls have been witnessed in Indonesia. The weakening of the Rupiah against major currencies has contributed to Jakarta falling 32 places, to become the world's 123rd most expensive location for expatriates.

In Malaysia, Kuala Lumpur has risen from 186th to 179th in the global ranking and 29th in the region while Georgetown is in 215th  globally, just above Mumbai (216th globally) and Ho Chi Minh City (217th).

Karachi in Pakistan remains the least expensive Asian location in the ranking.

See Singapore moves down to 8th most expensive location in Asia as cost of living falls for more.

Finance professionals find Singapore expensive, but still stay on anyway

Many Singapore finance professionals are concerned about the country’s high cost of living, but there are many other factors in the Republic’s favour, says George McFerran, managing director, Asia Pacific, eFinancialCareers.[1]

44 percent of Singapore finance professionals have said that they find Singapore expensive and they are concerned about the Singapore's high cost of living. But still 8 out of 10 recommends Singapore to their friends as a place to come, work and live. 75 percent of the respondents do not want to relocate or leave Singapore. 60% said that safety is the best thing about living in Singapore and the second best thing is the quality of living in Singapore.

[1] - Finance professionals find Singapore expensive, but still stay on anyway

Singapore Hong Kong Expatriate Packages are shrinking

Banking and Financial job cuts by 2011 are in the news around the world. Western banks are aggressively cutting jobs to prepare themselves for the new normal and any future global scale financial problems especially in USA and Europe. The job cutting axe has also started to fall on banking and finance jobs in Asia, particularly the financial centers Hong Kong and Singapore. But the cuts were not aggressive here and has mainly been the problem of western bankers. But the aggressive job cuts in the west are having a direct and very important effect in Singapore: shrinking expatriate package.

Expatriate packages for bankers and financial services industry high fliers from West have been very generous until recently: housing and car allowances, job for spouse, club memberships on the top of free tickets every year back to homeland, free relocation as well as 1 month free service apartment stay in the first month of employment. But since 2008, the expatriate packages are shrinking and luxuries like housing allowances are not included in the standard package any more. This is because the excessive bonuses as well as job opportunities are shrinking in Europe and USA and there are many who would work in Singapore or Hong Kong for only(!) a monthly salary and bonus.

Housing allowances in the expatriate packages for "foreign talent" are one of the main drivers of rents in Singapore, especially the luxury segment of the city centers. In the past a banker or financial services high flyer would expect 100% housing allowance in luxury condominium rentals. This is shrinking and the effect is already felt in Singapore as District 9,10,11 rents fell first time in 4 years.

Webinar - Guide to Relocating to Singapore

For anyone interested in relocating to Singapore,  Contact Singapore has a webinar named "101 Guide to Relocating to Singapore" on March 1st 2011 at 20:00 (GMT+8:00) Singapore time. If you are not familiar with Contact Singapore, it is an alliance of the Singapore Economic Development Board and Ministry of Manpower which aims to attract global talent to work, invest and live in Singapore. Contact Singapore has offices in Asia, Europe and North America.

A 101 Guide to Relocating to Singapore webinar is advertised as below (if you missed the webinar you can still watch it from webinar archieves of Contact Singapore):

Relocating to another country can sometimes be daunting, but it does not have to be. Contact Singapore, an organisation with the Government of Singapore, would like to make the transition a smoother one for you. We welcome you to register for our webinar to learn more about life in our cosmopolitan city-state. The webinar will provide a broad overview on topics such as accommodation, education, healthcare, opportunities for spouses, and much more, that will ease your move to Singapore. Sign-up for the webinar today and hear engaging presentations by experts, including a foreign talent who recently moved to Singapore with his family. Take this opportunity to ask them questions in an interactive Q&A session.

Related Article: Expat living- Singapore expat explorer survey 

Expat Living Singapore - The Expat Explorer Survey 2010

According to HSBC The Expat Explorer Survey 2010, Singapore is ranked 4th among 25 hot expat destinations in terms of key economic elements, income, disposable income and luxuries:

Singapore acts as an attractive location for high earners, which is unsurprising as it tops the economic league table on income score with nearly half (45%) of expats earning over $200,000 per annum compared to the worldwide average of just 21%. Expats based in Singapore benefit from lower tax than in their country of origin – only 8% believe they spend more on tax than they did at home. Of those surveyed, 61% also think that they have more disposable income than when living in their country of origin compared to an overall average of 42%.

However, with higher salaries and higher disposable incomes come higher costs; many think they spend considerably more than in their country of origin on accommodation (72% in Singapore vs. 46% overall) and food and drink (60% vs. 47%).

Expats in Singapore also believe they are already seeing signs of an improved economy, with over half (51%) agreeing that the economic situation in Singapore has improved since last year (compared to 22% overall). They are also much less worried about having to monitor spending (8% in Singapore compared to an overall average of 23%) or reduced career opportunities (15% vs. 20%).

[Expat Exlorer Survey 2010, Page 22]

Taxes in Singapore are very attractive. Actually, one of the main reasons behind Singapore's huge percentage of expats with higher disposable incomes is Singapore's tax system. Singapore imposes one of the least rates of personal and corporate income tax, enabling its residents to retain a higher portion of their income. Singapore's personal income tax rate starts at 0% and is capped at 20% (above S$320,000). The corporate income tax rate is approximately 8.5% for profits up to S$300,000 and a flat 17% above S$300,000. The Expat Explorer survey cites that 61% of the 109 expats surveyed in Singapore think that they have more disposable income than they would had they been living in their country of origin[1]. Last year I have paid around 6 percent of my gross income with a salary just below 100K (yes I do not belong to the >200K expats group yet). Around 20% of the same income would go as tax in my country of origin. Also I pay 7% VAT in Singapore which is 18% for most of the goods in my original country.

I agree with the cost of accomodation, it is very expensive and eats up a considerable amount of your income. But for me, the food and drink are cheaper in Singapore. I do not drink alcohol a lot (which is very expensive in Singapore due to taxes) and I eat in cofee shops and food courts a lot where you can find good and cheap food.

Singapore is also getting costlier. According to Expat-Essentials Singapore is costlier for expatries now. ECA International found that Singapore is the eighth-most expensive city in Asia for expats. Singapore was placed No. 9 last year. Globally, Singapore is the 42nd-most pricey a huge jump from from 79th last year. In Asia, Singapore is behind the likes of Japan, Hong Kong, Beijing, Shanghai and Seoul. And things will get costlier according to ECA. Inflation and a strong currency will continue to drive expats’ costs in Singapore ever higher next year.

According to the survey the wealth gap between East and Europe is widenning. This survey shows that the wealth is moving to the East. The Middle East, Singapore and Russia dominate the top quartile of the Wealth Hotspot leader board, while expats in mainland Europe and South Africa are accumulating the least amount of financial wealth:

Expats in Russia remain the wealthiest in the world, with 36% of expats in Russia earning over $250,000. This number has actually increased over the past year – 30% of expats based in the country earned over $250,000 in 2009. Both Singapore (32%) and Bermuda (27%) also have a much higher proportion of expats with an annual income of over $250,000, significantly higher than the overall average of 13%.

Mainland Europe, however, dominates the bottom five positions on the Wealth Hotspot league table. Almost two-thirds (62%) of expats living in Spain earn below $60,000, as do almost half of the expats living in France (47%), the Netherlands (47%) and Germany (45%). This is much higher than the global average of approximately one quarter (26%) of expats earning below this figure across the world. In fact, the only other country to join mainland Europe in the bottom quartile was South Africa, where around one-third (36%) of expats earn less than $60,000.

[Expat Exlorer Survey 2010, Page 5] 

Overall league table - The Expat Explorer Survey 2010

[1] - Singapore is home to the largest proportion of high-earning Expats