carbuncle
20-05-12, 10:12
» Adventure firm owner keeps
his money safe
Straits Times: Sun, May 20
For Mr Andrew Chua, 46,
owner of Focus Adventures,
Camp Challenge and Outdoor
Adventures, enjoying life is
part of work.
'I believe in work-life
integration. A lot of people
work to get money to enjoy
life. My philosophy is to work
while you enjoy life.'
This is similar to his thinking
when it comes to spending
money. He will spend only
when he can see a return on
his investments (ROI).
That's how he views his
expenditure on his 60m yacht.
He bought it two years ago to
charter out, but will use it
when it is not being rented.
It's as much a lifestyle choice
as an investment as he now
lives on board the boat when
he is in Singapore.
More than half of his time,
though, is spent in Hainan,
China, where he is setting up a
facility that will run sea sports
activities for tourists.
He has already brought Focus
Adventures, which offers
adventure-learning activities
for corporate groups, to Sibu,
Batam, Bintan and New Delhi.
Mr Chua, who is single, used
to be a Republic of Singapore
Air Force pilot.
Q: Are you a spender or
saver?
I balance my savings with my
spending. And I spend only on
things that will give me a
return on my investments such
as my yacht or a jet ski that I
can modify and sell at a
higher price.
My crew and I are repairing a
yacht for sale.
I don't spend on clothes as I
wear a uniform every day.
You will see me in a beige
company T-shirt, beige pants
and brown belt seven days a
week.
I also don't spend on drinks,
cigarettes and karaoke as
these do not give me any
return on my investment.
When it comes to charity, I
like to help underprivileged
children as I want to help
them achieve their own ROI.
Q: How much do you charge
to your credit cards every
month?
I applied for my first Amex
card when I was 21. I charge
about $5,000 a month to my
credit cards.
Credit cards come in handy as
I buy a lot of spare parts and
gadgets online.
Q: What financial planning
have you done for yourself?
I have health insurance and I
used to invest in shares. But I
liquidated almost all my
shares to raise cash for my
house in 2010.
Right now, my business is
giving me the lifestyle that I
want. But I plan to invest in
one or two properties in the
next few years. Then I will
have a stable passive income
stream for my later years.
I like property as I've always
made money from my
property investments.
Property is a good hedge
against inflation. I used to
speculate in property and
have bought a few on and off.
Q: Moneywise, what were
your growing-up years like?
My mum was a nurse and my
father ran a small retail
business. They provided for
me and my two younger
siblings but we were not rich.
I signed on with the armed
forces when I was 18 and
started to live on my own
since then. Enlisting in the
military was a good option as I
did not have to rely on my
parents for money.
Q: How did you get interested
in investing?
I became a fully qualified pilot
earning about $4,500 a month
at the age of 21.
I saved quite a bit as I was
staying in the officers' mess
where food was provided and
so I did not spend much money
for three years.
I decided I needed a savings
plan. I made up my mind to
buy my first property as it
would mean that I had to be
disciplined and set aside a
specific amount of money
every month to pay the
mortgage.
I borrowed some cash from
my parents for the down
payment to buy a freehold
Flamingo Valley unit that cost
$393,000.
I sold it for $680,000 four
years later.
Property gives you very good
value and is the most stable in
terms of your return on
investment. You can also get
good rental yields here.
If I did not commit to a
property, I would probably
have spent the money and
bought some flashy sports car.
Q: What property do you own?
It's a four-storey terrace
house in Sembawang that I
bought for $1.95 million in
2010.
I rented out four rooms, which
pay for the mortgage, and I
keep a small room for myself.
I go back once in a while to do
the laundry and to make sure
everything is in order.
Q: What's the most
extravagant thing you have
bought?
I bought a sea plane for $
80,000 a few years ago. I flew
it a couple of times but
unfortunately I crashed it. I
had to spend another $40,000
to $50,000 to rebuild it.
Q: What's your retirement
plan?
I plan to work till I cannot
work.
Q: Home is now...
A room in my 60m yacht. I
bought it second-hand for $
150,000 and spent about $
100,000 to do it up. Recently,
someone offered to buy it for
$350,000.
Q: I drive...
A 2003 C-class Mercedes-Benz.
[email protected]
WORST AND BEST BETS
Q: What is your worst
investment to date?
I invested almost $70,000 in
shares in China Aviation Oil
and I lost $50,000 after news
of the firm's financial scandal
broke in 2004.
I still have the shares.
Hopefully, their value will
creep up over time.
Q: What is your best
investment to date?
I bought a three-bedroom unit
in Poshgrove East in the
Katong area back in 2007 for
more than $800 per sq ft.
When I received the keys to it
in 2009, a property agent
asked me whether I wanted to
sell it. By then, the price of
my unit had gone up by
another $200,000, so I said OK.
Source: The Straits Times ©
his money safe
Straits Times: Sun, May 20
For Mr Andrew Chua, 46,
owner of Focus Adventures,
Camp Challenge and Outdoor
Adventures, enjoying life is
part of work.
'I believe in work-life
integration. A lot of people
work to get money to enjoy
life. My philosophy is to work
while you enjoy life.'
This is similar to his thinking
when it comes to spending
money. He will spend only
when he can see a return on
his investments (ROI).
That's how he views his
expenditure on his 60m yacht.
He bought it two years ago to
charter out, but will use it
when it is not being rented.
It's as much a lifestyle choice
as an investment as he now
lives on board the boat when
he is in Singapore.
More than half of his time,
though, is spent in Hainan,
China, where he is setting up a
facility that will run sea sports
activities for tourists.
He has already brought Focus
Adventures, which offers
adventure-learning activities
for corporate groups, to Sibu,
Batam, Bintan and New Delhi.
Mr Chua, who is single, used
to be a Republic of Singapore
Air Force pilot.
Q: Are you a spender or
saver?
I balance my savings with my
spending. And I spend only on
things that will give me a
return on my investments such
as my yacht or a jet ski that I
can modify and sell at a
higher price.
My crew and I are repairing a
yacht for sale.
I don't spend on clothes as I
wear a uniform every day.
You will see me in a beige
company T-shirt, beige pants
and brown belt seven days a
week.
I also don't spend on drinks,
cigarettes and karaoke as
these do not give me any
return on my investment.
When it comes to charity, I
like to help underprivileged
children as I want to help
them achieve their own ROI.
Q: How much do you charge
to your credit cards every
month?
I applied for my first Amex
card when I was 21. I charge
about $5,000 a month to my
credit cards.
Credit cards come in handy as
I buy a lot of spare parts and
gadgets online.
Q: What financial planning
have you done for yourself?
I have health insurance and I
used to invest in shares. But I
liquidated almost all my
shares to raise cash for my
house in 2010.
Right now, my business is
giving me the lifestyle that I
want. But I plan to invest in
one or two properties in the
next few years. Then I will
have a stable passive income
stream for my later years.
I like property as I've always
made money from my
property investments.
Property is a good hedge
against inflation. I used to
speculate in property and
have bought a few on and off.
Q: Moneywise, what were
your growing-up years like?
My mum was a nurse and my
father ran a small retail
business. They provided for
me and my two younger
siblings but we were not rich.
I signed on with the armed
forces when I was 18 and
started to live on my own
since then. Enlisting in the
military was a good option as I
did not have to rely on my
parents for money.
Q: How did you get interested
in investing?
I became a fully qualified pilot
earning about $4,500 a month
at the age of 21.
I saved quite a bit as I was
staying in the officers' mess
where food was provided and
so I did not spend much money
for three years.
I decided I needed a savings
plan. I made up my mind to
buy my first property as it
would mean that I had to be
disciplined and set aside a
specific amount of money
every month to pay the
mortgage.
I borrowed some cash from
my parents for the down
payment to buy a freehold
Flamingo Valley unit that cost
$393,000.
I sold it for $680,000 four
years later.
Property gives you very good
value and is the most stable in
terms of your return on
investment. You can also get
good rental yields here.
If I did not commit to a
property, I would probably
have spent the money and
bought some flashy sports car.
Q: What property do you own?
It's a four-storey terrace
house in Sembawang that I
bought for $1.95 million in
2010.
I rented out four rooms, which
pay for the mortgage, and I
keep a small room for myself.
I go back once in a while to do
the laundry and to make sure
everything is in order.
Q: What's the most
extravagant thing you have
bought?
I bought a sea plane for $
80,000 a few years ago. I flew
it a couple of times but
unfortunately I crashed it. I
had to spend another $40,000
to $50,000 to rebuild it.
Q: What's your retirement
plan?
I plan to work till I cannot
work.
Q: Home is now...
A room in my 60m yacht. I
bought it second-hand for $
150,000 and spent about $
100,000 to do it up. Recently,
someone offered to buy it for
$350,000.
Q: I drive...
A 2003 C-class Mercedes-Benz.
[email protected]
WORST AND BEST BETS
Q: What is your worst
investment to date?
I invested almost $70,000 in
shares in China Aviation Oil
and I lost $50,000 after news
of the firm's financial scandal
broke in 2004.
I still have the shares.
Hopefully, their value will
creep up over time.
Q: What is your best
investment to date?
I bought a three-bedroom unit
in Poshgrove East in the
Katong area back in 2007 for
more than $800 per sq ft.
When I received the keys to it
in 2009, a property agent
asked me whether I wanted to
sell it. By then, the price of
my unit had gone up by
another $200,000, so I said OK.
Source: The Straits Times ©