Money matters

Matter 1

Last August, the Acey Deucey family, bar gong gong, decided to invest in Capitaland. After monitoring the prices for a while, we went in at the $2.80-2.90 range.

Three months later, i.e. November, it had risen to around $3.30.

Ma ma 說：“Ai yoh! Xim tia! Boh buay kah jueh tam boh!” (Translation: Heartache ah! Why didn't we buy more?!)

Mee mee 和 gu gu 說：“Mai an nee tam xim lah.” (Translation: Don't be greedy.)

A further two months on, i.e. January 2006, it hit the heights of $3.70.

Ma ma 和 mee mee 說：“嗨！早知道買多一點！” (Translation: If I had known, I would have bought more.)

Gu gu 說：“事事難預料。” (Translation: Such things are unpredictable.)

It is now April 2006. Capitaland's last traded price was $4.84.

Gu gu 說：“嗨！可惜可惜。。。Wa ma xim tia liao.” (Translation: *Sigh* What a pity, what a pity... I also feel the heartache now.)

Ma ma 和 mee mee sniggers at gu gu.

(Please do not ask me for stock tips. :P)


Matter 2

I've been looking around for various avenues to transfer my AU$ savings home. And for every possible solution I find over here, e.g. via my bank, via money transfer services etc., I'm quoted extremely uncompetitive exchange rates, on top of slapping me with obscene administrative fees.

I've since decided to bring the whole lot home in cash. Which is going to be a little tricky, because the largest denomination of the Australian currency system is the AU$100.

Speaking of which, did you know that the Singapore currency system includes the S$10,000 note? Dan and Stef was very surprised when I told them that. Apparently, the largest denomination in China is the 100 元, which they said causes a lot of problems in the cities such as Shanghai where the cost of living is much higher.

I've actually seen a S$10,000 note before. Indeed, I've seen one from the earlier bird series as well. That particular note is strangely much broader than the other notes we are used to seeing.


Matter 3

More of a grumble than a matter actually. The S$/AU$ exchange rates has been dropping like a stone since December. Until late last year, it had been holding steady at S$1.25/AU$1. It is now S$1.16/AU$1. Ouch.

And the more it falls, the greater my urge to splurge before I leave the country for good.


Matter 4

Then there is the matter of whether to close or not to close my bank account here. My Hong Kong colleague had suggested that I leave it open, as it will save the hassle of opening another Australian bank account should I require one later. Valid (but not very material) point.

My current bank account, you might recall, pays close to zero interest rate in return for close to zero transaction costs. I enquired what fees I would attract when I lose my student status, but still keep the account open and make no transactions. I was told it will attract a monthly account fee of AU$5.

So I'll have to pay the monthly account fee whilst earning near zero interest. That made the decision a no-brainer. Bye bye, Aussie bank account.

But that causes a different kind of problem. My last pay is coming in only AFTER I've left Sydney.


Matter 5

Finally, the small matter of my superannuation (the name of pensions in Australia, the rough equivalent of our CPF in Singapore, except they are privately run).

I was clearing my drawer the other day and going through some old letters. I was reminded of my superannuation account and discovered I actually have a couple hundred of dollars in it. Heh. They must have been from my teaching pay; I had taught a couple of semesters back. So I explored the booklet and website a little and made a further discovery. I can actually withdraw what's in my account, but only after my visa expires.

That's fine by me. A couple more hundred bucks to treat my friends to lunches/dinners.


Akan Datang: Shutting down

7 days to go.