The bond should be the deal breaker - if you have the rating, take a look - if not, don't sign the bond. Just my opinion

Singapore Inflation
 

Singapore inflation probably climbed to 25-Year High

Singapore's inflation probably accelerated in January to the highest since 1982, adding pressure on the central bank to curb price gains even as the economy weakens. The consumer price index jumped 5.6% from a year ago, after gaining 4.4 percent in December, according to the median estimate of 16 economists surveyed by Bloomberg. The Department of Statistics will release the report at 1 p.m. on Feb. 25.

The Monetary Authority of Singapore last week increased its forecast for inflation this year, predicting consumer prices will gain at more than double the 2007 pace. Rising prices may increase pressure on the central bank to allow faster gains in the currency in its next review in April, economists said. "It's a difficult time for the central bank", said Tetsuo Yoshikoshi, an analyst at Sumitomo Mitsui Banking Corp. in Singapore. "It cannot tolerate an excessively strong Singapore dollar but at the same time the central bank needs to bring down inflation from these high levels.''
Prices probably rose last month as the government raised property valuations for public housing, the island's biggest power company increased electricity tariffs and the advent of Chinese New Year, celebrated by the majority of Singaporeans, boosted food costs.

Currency Factor

Finance Minister Tharman Shanmugaratnam last week said Singapore will use its currency and diversify its sources of food supply to curb inflation. Still, the government warned there is a limit to the Singapore dollar's appreciation because it reduces the island's competitiveness. The currency has climbed 2.1% against the U.S. dollar this year, adding to a gain of 6.7% last year. It reached the highest in 11 years today, gaining 0.2% to S$1.4074 against its U.S. counterpart. Singapore's central bank expects inflation to average between 4.5% and 5.55 in 2008, after gaining 2.1% last year.

Source: bloomberg.com


Publication date: 2/22/2008

$6k mo is a bit high imo. $4500-$5500 should be adequate depending on family size. Downtown/Orchard road you're looking at $6k+. Airport, much less. East Coast in between. You can go north and west but what you save will be offset by higher cab fare. Then again, if you have children you may want to cut down on their bus ride by living closer to the school.

The idea that you must live near expats of your own nationality is a personal choice. It was not a prime consideration for me.

The training bond is what it is. Learn about it, and make your decision accordingly. I can honestly say it had no bearing on my decision.

Good luck!!:)

Boeingdream787,

Cubby has explained the 13th month "bonus".

"The profit sharing" bonus varies, obviously in keeping with the company's performance. In a "good" year such as last year and perhaps this year, one can expect approx 6 months of basic+mvc+a portion of avc, paid out in July in a lumpsum. In a "normal" year 3 months can be expected. In a "bad" year such as 2003 when the region was racked by the effects of SARS and travel collapsed, one can expect between 0-1 month, depending on the extent of the crisis. Historically, and from a planning perspective, plan on 3 months profit sharing bonus.

The joining bonus is optional. Company will only use it if it has difficulty recruiting. This has rarely been the case.

Everything is taxable, with the exception of meal allowances. Tax rates at http://www.iras.gov.sg/irasHome/page...=1190#resident
Click on "for YA 2007 onwards".

To elaborate slightly on the intricacies of MVC and AVC...MVC is determined at the end of every financial quarter. If the co makes a profit, you are paid the MVC for the next quarter. I shall not go into full details of the exact numbers, suffice to say that the co has only once made a quarterly loss in its history. The AVC is paid out in a lump sum in June, if the co makes a profit for the full financial year. The co has never made an annual loss. The sweetener for retaining your AVC until June is a 15% premium, i.e., you are paid $767 x 12 months x 1.15.

One of the annoying aspects of the pay structure is that when you are on leave, you are only paid the basic and mvc for the month. No PPA or meal allowances, since you did not fly. However, the figures i have quoted are averaged out for the 6 weeks that you are on leave, meaning that for some months PPA and meal allowances can be quite high, just as they will be low for the month when you are on leave.

Inflation in Singapore has historically averaged 2-3%. This year has peaked at 6.6% in Jan, and 6.5% in Feb, partially as a result of the GST (VAT) increase by 2% mid last year, and partially based on calculation from a low base. Of course, commodity prices have shot up world-wide, and that inflation has been imported into Singapore. Property prices and rents too have shot up in the past 12 months, having laid dormant for almost 10 years previously.

The outlook on inflation is for it to moderate to approx 4-5% by mid year on the basis of adjustment of the calculated base. Inflation, however, remains a worry not just for Singapore, but for most industrialized countries.

The good news is that interbank rates are falling, likely resulting in cheaper mortgages.

Eating out can be an inexpensive affair if you want just a regular meal without the fancy trappings. A meal with a soft drink at a foodcourt in any mall, even on Orchard Road, will only set you back S$5-7 at most.

Arka*****e - You can take comments like that and cram them somewhere the sun doesn't shine.

KK,

I was going to apologize for the humor(less) comment. But given your response I find I may have touched a raw nerve.

In any event, I offer my sincerest apologies. I will remove the offensive part of the post.:oh:

Accepted
thank you

locblue,

What is the 4 hour STBY on the Europe and US rotations?

Remlap

That standby covers the crew going back to Sin or elsewhere the day before you are due to go back in case they go sick or get delayed and run out of hours.

National terms....???!!
 

BD787,

Will try an answer, ALL PLS FEEL FREE TO CORRECT......
1) You can just tell them you want National terms, but no education or housing allowances.
2)No internal growth on expat as far as i know... may be wrong,
3) Fly on Singapore ATPL, your own licence you renew yourself....
4)Expats are the first to get laid off, then expats on national terms and so on...
5) Basically if not type rated.. No Chance, you have to bring the money with you.

Hope this helps,
OFF to,
RnR...:)

BD787

Point 5 :

If your bank has a Singapore office (and only then) you can place the
money in a locked account in your home country (i.e. a fixed deposit). Your bank (Singapore Branch) will then issue a bank guarantee to SIA. (So no need to bring the cash to Singapore)


It requires some paperwork, but in this way your money will at least generate
some interest. Worked fine 7 years ago.
gb

Point 2:
I assume you are talking about instructor positions (LIP, SIP). Yes those are available to expats. Never looked at chief pilot.:hmm:

BOND
 

One Question On Bond.

If You Have To Leave Unwillingly Before Your Contract Finishes, Say Due To Health Problem Or Loss Of Licence So On, Do You Still Have To Pay For The Training For The Remaining Term? Does Sia Take It From Your Bond?

Very good question. I stand to be corrected here but I think each case is taken on its merits. But there are no guarantees of course.

Gents
Just a question , are they flexible with the 3000 hr pic requirement on commercial jets ? What if 2000hrs on A332/A340 and B777 all command time. Have more than 3000 hrs pic if you can count Kingairs and Cessna,s.
Just curious. I guess no harm in applying.
Also if one has say 300 hrs pic on 777 ( increasing monthly) , and one were to join , would you be regarded as type rated , or will they not wiaver the 1000hr requirement.

Thankyou la.

Gents
Another question. Could somebody publish the " local terms"
I heard a rumour that if you are employed on local terms after a period you are elligible for permanent residency and eventually citizenship. Can anyone confirm or is this an old wives tale.
Lets say I caome from a part of the world that offers very little future to ones offspring.Aslo is it feasable to live in Malaysia , are there any SQ pilots commuting to Johor or even KL.

TKS.

Yes you can commute but I would not recommend JB. It's not the safest city in the world by a long way.

I believe some guys commute from KL, Penang etc and don't have too many problems. You just need a mate in SIN with a spare room so you can cover your stand by duties etc.

Thanks Banananananas.
Now to just see if I have enough experience for them.

Cheers Four

Concur with BB on the bond exception issue. In fact, I believe the wording allows for discretion on the part of SQ.

Four Golds,

"Local terms" are the same as expat, minus the housing allowance and children's education allowance. You can become a PR or citizen while you are on "contract terms". However, if/when you become a PR or citizen you are automatically placed on "local terms". Suggestion, as a DEC start on "contract" terms. Then switch to local as your status changes.

As for the hours requirements, you don't know unless you apply.

Good Luck!!:ok:

Ark Pilot
You,re a team player . Thankyou.

Car import....
 

Thanks four golds.

BD787,

Someone else will have to help you with the auto. Public transport is my means of travel. sorry.

Basically forget bringing a car with you, there is an age limit that it must be under, then a large fee plus duties and certificate of entitlement. If you really want one, buy it here and pay it off over ten years at 3.5% interest.

Expat instructors are not common in SIA, Singaporeans are preferred. One of the requirements was for 5 years service as a Captain with SIA. Cargo has recently appointed some expats as instructors, but "mainline" DECs would be a better option for employment.
Lay-offs occurred after the SARS epidemic caused severe problems - they weren't all expats. Just don't p*ss them off, as SIA operate a '3 strikes and you're out' programme (unofficially of course).:E

Only one Tail Strike at Auckland and he was out!!!:D Then again perhaps it was three?

BD787,

1. Yes, you can switch to national terms. They will be more than happy with that, and so will alpas.

The negatives to local terms are: no housing, education, gratuity, and signing bonus.

The positives are: If you take up a PR (permanent Residency) you contribute compulsorily to CPF (Central Provident Fund) tax-free approx $1600 ($900 your contribution, balance from company) every month + a portion of your bonus that are treated as extra wages. click on www.cpf.gov.sg for more info. Of course, even on expat terms you have the option of enrolling in the SRS (Supplementary Retirement Scheme) wherein you can contribute approx $15000 every year. That amount is tax deductable, but is taxed at a lower rate at withdrawal...a tax deferred scheme of sorts. Google SRS for more info.

Other positives of PR: Subsidised medical care, govt services, preference for jobs for spouse and family, lower salary requirements for credit cards, lines of credit, convenience of not having to renew status for 10 years, ability to sponsor family on a long-term social visit pass upto 1 year, easier housing loans, etc

2. Training positions are available to all, expats and locals. Given the rate of fleet expansion, the co cannot afford to discriminate. Many expats are in training positions. Other options are Management posts such as MPSD (Mgmt Pilot Special Duties, entry level), FSP (Fleet Safety Pilot), and possibly even upto ACP (Assistant Chief Pilot). Beyond that you need to be a citizen.

You can also contribute in alpas (pilots association) as an expat rep dealing with all expat issues. You can be nominated to the Executive Council.

3. Singapore ATPL. Other Licenses your responsibilty.

4. When push comes to shove, local or expat, if you've been a naughty boy, in a crisis requiring layoffs, you will get "retrenched" (laid off) with benefits. There is no advantage to being local or expat in this regard.

5. No way around the bond.

Importing cars not worth the hassle. You end up paying a lot in taxes, equating to what you'd pay to buy locally.

Now, about the six pack....

Point 1

If you choose to become Permanent Resident, your male children will
be called up for military service, (at least if they are in Singapore as PR)


See

http://app.mfa.gov.sg/generator/aspp...pplication.asp

"explanatory notes"

14. Under the Enlistment Act, all male Singapore Citizens and Permanent Residents (PRs) are liable
for National Service (NS) upon reaching 16½ years old. They are required to serve 2 years of fulltime
NS at 18 years old, followed by 40 days of Operationally Ready National Service per year till
the age of 50 years (for officers) or 40 years (for other ranks).

15. Main applicants who are granted PR status under the first generation Professionals, Technical
Personnel and Skilled Workers Scheme or the Investor Scheme are exempted from NS. Male
children who are granted PR status under their parents' sponsorship are liable for NS upon
reaching 16½ years old.



gb

Cost of a car in SIN
 

I lived 3 years in SIN (flying for Tiger) and had a car. Bascially, all short haul guys have cars, because you travel to the airport every day. If you are long haul, it's maybe not worth it. Depends on you. Family might want a car.

Prices have come down considerably. If you take a modest model, you get it cheap. 3 taxi rides a day and your car costs are covered.

Advantage with a car: You can take apartments a bit off the route, so you might pay a bit less.

hth,
Dani

gb777,

If you as a PR sponsor your male child for PR, then he indeed does become liable to serve National Service (NS), as a second generation PR. The easy way around this is to not sponsor your male child for PR; instead apply for a long-term social visit pass, valid for 1 year, renewable as long as you maintain your PR status.

If you intend to live in Singapore for the very long-term, your son can apply for a PR on his own merits when he lands a job in Singapore. He will then be considered a first generation PR, therefore not liable for NS.

NS....!
 

boeingdream787
Please excuse my curiosity but why on earth would you want to become a PR of Singapore having joined SQ presumably on expat terms as a B777 Captain and then have to go onto national terms?

mc,
I might just start to like singapore a little more than i anticipated.Dont you think.Initial expat terms would obviously be due to fear of the unknown.Would want to tread softly initially,untill I get a feel of things in singapore.Also mebbe give the inflation etc some time to settle down(if).Cause,by what i've heard,the inflation and the rents have pretty much peaked as of now(touch wood).Only way now is south.....
Just my 2 beers worth.......

I don't think so. If you compare prices with the first "gold rush" in the 90s, they still are much more lower. Remember that there is a limited amount of land available (ok, they reclaim a lot of it).

Nonetheless SIN has a bright future ahead. :ok:

Dani

boeingdream787 Cannot see what inflation and rents in Singapore have to do with being a PR. You also seem to have failed to grasp the Bank Guarantee/Bond issue.How well do you understand English?? The Bank does not guarantee the Bond you do.The Bank Guarantee is what the Bank Guarantee hence that is why it is called that.:=

BD787,

If your son is 19, he will presumably attend University. He can apply for a Student Pass which is valid for the duration of the course. At the end of the course, has to return to his country of origin, and re-apply for a tourist visa/social visit pass/Employment Pass/Work Permit. Therefore, not liable for NS.

I cannot comment on health issues vis-a-vis NS.

PR vs Expat: I have not heard of too many people switching to local terms from expat terms. In fact, none at all with SIA. Many expats stay on expat terms for 10-20 years until retirement. The loss of expat perks is substantial. The gain in local perks is relatively inconsequential, monetarily. A foreigner can purchase property just as easily as a local. Getting a loan is not that much more difficult. There are other advantages of being on local terms as listed earlier, of course. At the end of the day, your decision.

MC is right about the bank guarantee.

Singapore Age Limit
 

The B777/A330 captain vacancy notice is vague about the age limit for the position. I am 55 at the present and wonder if that is why there has been no response to my application. A five year contract would put me past age 60 upon completion.

Thanks

Bank guarantee
 

Locblue/mc,
Pls correct me if i'm wrong.Basically,if i have the required funds in my bank in my country of origin(sd56k) and my bank has a singapore branch,then my bank(singapore branch) would be willing to stand guarantor for me for the required amount.Provided of course i deposit or "freeze" the amount in a "fixed term deposit" for the required period.In this case,5 years. Now,IN A CASE LIKE THIS,would'nt the Bank guarantee(alongwith the frozen funds of course....which stay in my name throughout),be sufficient for SIA towards the 'bond'. Well,it worked with my present company.This way the funds are frozen in my name + the bank.BUT the amount also picks up interest over the years....which could be a substantial amount! Which is how I might stand to gain a little bit.IF of course,SIA agrees....

In a word NO! While what you propose is very logical, logic has nothing to do with SQ's position. They want the money in a joint account, with both parties names on the account and they want it in Singapore. You have to understand SQ wants it both ways as they are the 500lb gorilla and you're not.

bd87

I have not transferred a single cent to Singapore for my bank guarantee. The Singapore branch of my "home" bank has issued a guarantee to SIA to pay the 56 K whenever SIA wants it.
As a collateral for this my bank first accepted my shares in a European Company. When I bailed out from the stockmarket one year ago they transferred the collateral to my home in Europe.

SIA don't give a s__t about how you guarantee the money towards your bank. They only require the letter from a bank with a branch in Singapore. They don't even know whether you have transferred the money or not.