Forecasting is not my strength and i may be wrong. Public car park at Bishan and Toa Payoh shown that 60-70% of vehicles are not utilized at 8.30 in the morning. The percentage of unused vehicles have increased from 30-40% to 60-70% if my eyesight did not fail me. What this means is that more people are choosing to take bus and mrt to work, rather than drive. It also means that people can hardly afford to pay for the ERP gantry charges and parking fees. If another wave of retrenchment comes, reality bites and they will begin to dump their cars in masses. Even if there is no retrenchment, people will find paying road tax and insurance a waste of money and still sell their cars as they hardly use it. Sometimes the rational decision will take longer as the ego and face-saving still prevail in the average Singaporean. But it will come.
Anecdotal evidence shown that established businesses are closing down as the consumer spending wanes. Nearby Miss Clarity Café (2 years operating ) and Middle Curtains (more than 10 years operating) have both closed. All the best to the new businesses that have taken over the space. More and more shops are now “for Rent”. My gut feel is that business conditions are worsening as the weaker players get weeded out.
The sudden slew of large IPOs like GLP and MIT proved that the storm may arrive in 6-9months. As these large players knew that the window of opportunity to sell high is short, they rushed for the listings.
I suspect Mr. Anthony Robbins economic warning could be right. (Pls google “Anthony robbins economic warning”). Please continue to build your ark and stay tough. All the best buddy.
No comments:
Post a Comment