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Thread: Andrew C - Focus Adventures - Sembawang terrace - Poshgrove East - Flamingo Valley

  1. #1
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    Mar 2012
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    Default Andrew C - Focus Adventures - Sembawang terrace - Poshgrove East - Flamingo Valley

    » 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 ©

  2. #2
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    21yr old and already can take out $5000 from CC every month..

    I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)

  3. #3
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    Quote Originally Posted by roly8
    21yr old and already can take out $5000 from CC every month..

    Maybe born with silver spoon. But he said parents not rich. Means perhaps got sugar daddy... Maybe some rich Colonel in airforce... 46yo yet still Single... Hmmm. Wanna move out when young yet later borrow from parents for first ppty downpayment... Yawn
    Last edited by carbuncle; 20-05-12 at 11:37.

  4. #4
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    in good old days only need to pay 5% cash and the rest thru cpf or even defer payment till TOP. gone are the days!

    in early 2009, sembawang semi D big unit FH only 1.5m, brand new..by Fragrance

  5. #5
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    Quote Originally Posted by rattydrama
    in good old days only need to pay 5% cash and the rest thru cpf or even defer payment till TOP. gone are the days!

    in early 2009, sembawang semi D big unit FH only 1.5m, brand new..by Fragrance
    I heard Fragrance can finish building one in 6 months!!!!

  6. #6
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    Quote Originally Posted by carbuncle
    I heard Fragrance can finish building one in 6 months!!!!
    6months abit too short. parc rosewood fundation done and building level 1 now. even faster than woodhaven. parc imperial done within 1 yr. they always use the same contractor and more or less same design.

  7. #7
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    Quote Originally Posted by rattydrama
    6months abit too short. parc rosewood fundation done and building level 1 now. even faster than woodhaven. parc imperial done within 1 yr. they always use the same contractor and more or less same design.
    I tokking semi D bro

  8. #8
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    Quote Originally Posted by carbuncle
    Maybe born with silver spoon. But he said parents not rich. Means perhaps got sugar daddy... Maybe some rich Colonel in airforce... 46yo yet still Single... Hmmm. Wanna move out when young yet later borrow from parents for first ppty downpayment... Yawn
    Key message: must have loaded parents to borrow money from to start the ball rolling

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