CNA938 Rewind - Private insurance, healthcare "in a knot". What got them tied up?
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Independent Singapore
an hour ago
- Independent Singapore
Is earning S$6.8K at 23 in Singapore impressive or just average? Young foreigner asks
SINGAPORE: For most young professionals, the chance to live and work in a foreign country is as exciting as it is unnerving. That's precisely where one 23-year-old finds himself as he equips himself to transfer to Singapore for a two-year contract, prepared with a newly issued job offer and a monthly remuneration of S$6,800. With a Reddit post, he put his inquiries to the international online community: Is this a decent compensation for someone just starting? Can I afford rent at S$2,500/month? And significantly, how relaxed and sustainable will my lifestyle be? The response from experienced locals and fellow expatriates was instantaneous and perceptive, offering clarification on both the financial truths and prospects that come with living in the Lion City. Impressive for his age Redditors agreed that S$6,800 is a good beginning salary, specifically for a 23-year-old. 'Many people at that age can only dream of having this type of pay,' one user wrote. 'Heck, you might even be making more than someone with 10 years more experience.' While background, like education, industry, and work experience, is missing, their shared opinion is that he's doing well based on local standards. Singapore's median monthly salary (as of 2024) floats around S$5,000, so this income already puts him securely elevated. See also Zhang Ziyi's daughter has a crush on Wang Leehom Rent: How far will S$2,500 go? One of the poster's major worries was housing, whether a S$2,500/month house rental is realistic. The short answer: it depends on what he's looking for and where. For that amount, choices include a one-bedroom condo unit in an outlying city location or a more expansive flat in a residential area. However, leasing an entire apartment in central areas such as Orchard, Tanjong Pagar, or Marina Bay will be stretching the budget. Redditors provided some viewpoint here, too: 'If you choose to rent a room (and not a whole flat) a bit further from the centre, cook at home or eat at hawker centres, and take mostly public transport, you can save up at least S$3,000 a month.' So, even though S$2,500 could get a desirable flat on a respectable site, it might come at the cost of savings, except if lifestyle choices are consequently fine-tuned. Comfort vs. savings A major theme that can be gleaned from the Reddit conversation is balance. Yes, one can likely live very contentedly on a S$6.8K pay, but living huge could mean saving little. Singapore offers a variety of lifestyle choices like Michelin-starred hawker kiosks and expensive bistros, glossy MRT trains and always-available ride-hailing apps, luxurious fitness centres in the CBD and ActiveSG public sports services in the heartlands. The trick, as one Redditor put it, is making concessions and striking a balance: 'Don't stay at Orchard, don't spend $15 for every meal, and don't take Grab everywhere—but also don't feel bad for treating yourself to a nice croissant if you feel like it.' Eventually, it comes down to one's priorities. Do you want to take trips often, live alone, or eat out? One can, comfortably even. But then, savings will have to be relegated to the background. Or are you the type who prefers to store up a substantial chunk of money every month? Sharing a condo flat, using public transportation, and eating at hawker centres can go a long way. Other costs to consider The young expat also inquired regarding monthly expenditures outside of rent. Healthcare, for instance, is costly, specifically if you're depending exclusively on private care. 'S$800 for medical expenses isn't great,' one Redditor cautioned. 'One ultrasound at a private clinic can already cost more than S$100; an MRI, a few hundred.' This cautioned him that even in an extremely technologically advanced system, quality care has a steep price, particularly when there's no all-inclusive insurance. A promising start with room to grow For a young adult starting on a global exploration, S$6,800/month in Singapore is a solid foothold. It offers comfort, a decent lifestyle, and—if managed well—an excellent savings rate too. But like in any other place, lifestyle choices are the real game changers. As the Reddit crowd astutely emphasised, 'The question is, do you prefer to save money or live as comfortably as possible?'
CNA
2 hours ago
- CNA
Japan Hour - Gaia Series 94: UNIQLO's "Secondhand Clothing Project"
UNIQLO's push into secondhand clothing, aiming to marry sustainability with commercial viability, faces both innovation and obstacles.
CNA
2 hours ago
- CNA
Gaia Series 93: Big Motor's struggle to rebuild
A scandal-plagued car dealer attempts a comeback with a new name, new leadership, and old reputations to shake. In the spring warmth of Nagoya, where weeds now poke through the pavement outside what was once a bustling used car showroom, the past still clings to Big Motor. Once Japan's top used car sales company, the firm fell spectacularly from grace after revelations of misconduct that ranged from falsifying insurance claims to using herbicides to kill roadside trees. 'They dented cars brought in for repairs using golf balls and other tools,' the narrator recounts. 'All to inflate insurance claims.' The scandal, which led to a police investigation and arrests, culminated in the resignation of then-president Hiroyuki Kaneshige and his son, Koichi, who had wielded immense internal power. A chilling management handbook handed to employees stated: 'Executives must be given whatever authority is needed, including control over life and death decisions of subordinates.' At its peak, Big Motor boasted 250 dealerships and 600 billion yen (S$5.37 billion) in annual sales. Some fifth-year employees earned over 30 million yen annually, while second-year staff saw salaries of nearly 25 million. It was a ruthless, performance-driven environment. 'It was so unreasonable and chaotic that there's a lot to say,' recalls one former employee. Sales plummeted by more than 80 per cent following the revelations, and trust evaporated. Out of 6,000 staff, one third quit. As financial losses mounted, major trading company Itochu Corporation stepped in, acquiring Big Motor for 40 billion yen. It was a risky move. 'If there weren't [a risk], everyone would do it,' said Masahiro Okafuji, Chairman of Itochu Corporation. Rebranded as WECARS, the company now operates under a new philosophy. Shinjiro Tanaka, appointed as president by Itochu, began inspecting dealerships nationwide. He was surprised to find a legacy of numerical rankings of sales staff still displayed prominently—Sales Power 992, Purchase Power 496. 'This isn't a video game,' he remarked. At the Kumagaya dealership in Saitama Prefecture, manager Tsukasa Iijima confesses, 'We still don't really know what's going to happen.' The showroom is deserted, and despite the new branding, the stigma remains. A customer, asked why they returned, said: 'Maybe things have actually improved. That's how it feels. They seem more proper now.' But not everyone agrees. Ms A, a victim of the earlier misconduct, was told in 2022 that her Audi had to be scrapped and sold it for 10,000 yen. It was later resold for 180,000 yen. Worse, the replacement, a red kei car purchased for 1.3 million yen, was suspected to be flood-damaged. 'It smells… like rubbish. Or maybe musty dust,' she says bitterly. To her, WECARS is merely 'plating over the same metal.' The organisational overhaul starting with a completely refreshed management team, includes increased transparency in repairs, photographic documentation, and inviting customers into the workshop. Insurance, once a key revenue stream, is now outsourced due to a revoked agency licence. 'For WECARS, not being able to sell insurance feels like losing one of our weapons,' admits one employee. In the Utsunomiya dealership, salesperson Tomoyasu Suzuki reveals the human cost of reform. His annual income has dropped by about 3 million yen. 'It's become harder to reach 10 million yen,' he admits, 'but I still think WECARS is better. There's no pressure chasing me.' Wataru Gouroku, head of corporate planning and a key architect of the Itochu-led rescue, stresses culture over individuals: 'Now, only those who support the new culture remain. Don't write us off. Come visit just once.' He spearheads weekly remote meetings where employees report mistakes openly, something unthinkable in the Big Motor era. 'Back then, your voice didn't get through,' one staff member says. 'If you spoke up, you got crushed.' Despite cautious optimism, public scepticism persists. 'It just feels like they're messing around again,' says Ms A. 'Whether it's Big Motor or WECARS, they are the same thing.' Yet, in mid-March, a curious ritual returns. Employees at a dealership shout 'Yes!' together each morning. 'For me, those things were actually a good part of the old culture,' says Gouroku. 'Not rejecting everything. But rather keep anything that still serves the customers well.' As used car sales crawl back to 50 per cent of pre-scandal levels, the road ahead remains arduous. 'Even though I'm trying so hard, I'm still not trusted?' asks a disillusioned employee. The answer, perhaps, lies not in a name change, but in the long, unglamorous process of earning back what was lost: trust.
