Wednesday, October 12, 2016

5 Skills Future Courses Worth Spending Your $500 Credits On

(Singsaver.com.sg, Singapore's leading personal finance comparison platform, provides free and easily accessible resources such as its up-to-date credit card product page and the latest personal loan packages available in real-time.)

There are over 10,000 courses in the SkillsFuture directory. Use your S$500 SkillsFuture credits to learn these 5 profitable skills. With the SkillsFuture Programme and no end of private schools, Singaporeans have numerous opportunities to upgrade. Even with the S$500 SkillsFuture credit from the government, each new course is an investment of time and money. It’s important to pick the secondary skills that benefit you the most, especially with the tough job market in Singapore this year.
 
How SkillsFuture Can Benefit Singaporeans
Any Singapore Citizen above the age of 25 is eligible for an initial S$500 SkillsFuture credit that they can use to learn new skills or deepen their knowledge in their existing fields. You can use these credits on top of any government subsidies, and they have no expiration date. Currently, there are over 10,000 courses in the SkillsFuture Credit Directory.  Here are some of the most useful or profitable skills job seekers should have, and the SkillsFuture courses you can learn it from:
 
1. Business English
It is possible, but difficult, to get far in a company with poor English skills. Your colleagues may tolerate the occasional poorly worded email, but it’s hard to become a department head or senior manager if you are still struggling with past and present tenses. Apart from clarity of communication, there is the issue of professionalism and image. It should be true that everything comes down to the quality of your work, but that’s just not the reality. Your ability to speak and write well is a part of your image, just like wearing proper shoes to the office. The simple truth is that articulate employees get noticed, and are often more highly evaluated. The best part is, business English (or just regular English) courses are easy to do on a part-time basis. Many companies may even provide subsidies for select courses, so be sure to ask before signing up for one.
Take If:
•    You aspire to enter management, but have poor language skills
•    Your company requires someone who can vet documents
•    You are in a technical line of work in which you often need to read manuals or write operating instructions for others
 
Try These SkillsFuture Courses:
 
 
2. Basic Accounting
Accounting is the language of the business world. Whether you hope to run your own business someday, or just to get into management, basic accounting is a must. While it’s possible to head a department without understanding the basics of a budget, the learning curve will be much steeper. It will also be harder to propose changes or initiate projects within the company if you cannot create a budget for such activities. In your personal life, basic accounting skills are also important for keeping your finances in order. Knowing how to tally your personal assets allows you to gauge what risks you can take, and keeping proper books means you can easily spot areas in which you overspend. A basic grasp of finance is important if you want to create your own investment portfolio. It can be difficult to understand a company’s balance sheet, or concepts such as cash flow, without knowing basic accounting.
Take If:
•    You want to run a side-business or a start-up
•    You have an interest in building your own portfolio to invest
•    Your work involves investigative elements, while also being in finance (e.g. business journalism)
 
Try These SkillsFuture Courses:
 
 
3. Skills Certification in Logistics or Supply Chain Management
Logistics is a complex process that encompasses many aspects, such as the most cost-effective way to get a product to a customer, or how to save costs when looking for suppliers and finding storage solutions. A basic understanding of logistics is helpful for anyone who wants to run a small business; whether it’s a small blogshop or a big brand distributorship, logistics teaches you to handle intricacies such as the delivery process, how to deal with returns or defective goods, how to make sure orders are seamlessly processed, and more. Logistics is also important if you are working in a courier company, warehouse, or manufacturing. Becoming a supervisor or manager is often contingent on developing skills in supply chain management. For office workers, logistics training can make you invaluable to your boss. You will be able to make suggestions regarding which suppliers and distributors to use, and spot inefficiencies in your company’s supply chain process.
Take If:
•    You want to run a business of your own, which provides a physical product
•    You want to move up to become a supervisor or manager, and you work in industries like manufacturing or delivery
•    Your job involves working with suppliers and distributors, such as being tasked with choosing your company’s vendors
 
Try These SkillsFuture Courses:
 
 
4. Social Media Management
The days of having a specialised social media manager are coming to an end. Employers increasingly expect other related professions to also have social media management skills. For example, many Small to Medium Enterprises (SMEs), upon hiring a marketing manager, will expect social media to be part of the marketing mix. Careers that involve communications, such as Public Relations or Investor Relations, also benefit tremendously from social media management. Even if you do get to hire a separate person to manage your organisation’s media, you will struggle to give them proper direction if you don’t understand how Facebook, Twitter, Pinterest, Instagram, etc. all work as whole. Note that in Asia, many traditional retailers are only now moving into the online space. This means there are numerous career opportunities to be derived from ecommerce. That’s great news for content creators, web developers, digital illustrators, etc. But these professionals will get a significant boost from also knowing how to handle social media.
Take If:
•    You want to earn income off your YouTube channel, Instagram account, etc.
•    You work in a communications-related field, and deal with Business to Consumer (B2C) content
•    You already work in a related field, such as content creation or web development.
 
Try These SkillsFuture Courses:
 
5. Statistics
Important decision makers must learn to interpret data. If you have no grasp of statistics, you will always struggle when trying to pitch big ideas; it’s hard to convince your bosses to approve million dollar budgets and projects, if you don’t know how to present statistical facts. Statistics are often underrated by those in marketing; but being able to collate and interpret survey data is always useful, when you need to position a product or service. Statistics are also useful to those who work in the media industry, as it’s not uncommon for various entities to try and skew your opinion through selective presentation of data. It’s also useful for public opinion articles, such as the ever popular “What is the happiest city to live in” or “Which countries work the hardest” surveys. Those who are work in social services, or run social enterprises, will find great use out of even a basic statistics course. You will be able to look at reams of data, and determine facts such as which neighbourhoods need the most funding, or which social groups are most in need of charitable donations. Lastly, statistics are a great way for entry level workers (fresh out of school) to impress their bosses. Few people expect an intern or trainee to be able to collate data, and identify facts such which products sell better on different months.
Take If:
•    You have an interest in social work, activism, or even politics.
•    You work in media (particularly news media), and cannot allow yourself to be confused or manipulated by statistics
•    You want to be able to create more convincing, fact-backed pitches and proposals
 
Try These SkillsFuture Courses:
•    Business Statistics, Data Analysis, and Decision Making: Part 1 and Part 2 Infographic Concepts and Data Visualisation Techniques

Tuesday, October 4, 2016

Food Discount Apps In Singapore That Let You Eat On The Cheap

(Singsaver.com.sg, Singapore's leading personal finance comparison platform, provides free and easily accessible resources such as its up-to-date credit card product page and the latest personal loan packages available in real-time.)

From digital loyalty cards to virtual coupon books, we’ve got the scoop on the best food discount apps in Singapore. If there’s anything Singaporeans love more than dining, it’s finding a great deal on dining. These five food discount apps not only give you savings at your favourite restaurants, bars, cafes and kiosks; they also help you find new places to try.
 
 
 
Chope
Founded with a simple mission – to help busy Singaporeans quickly and easily make dining reservations – Chope rewards users with points for each reservation made and fulfilled. These points (called Chope-Dollars) can then be exchanged for restaurant vouchers, with the base exchange rate starting at $2.50 per reservation. How Much You’ll Save: With vouchers maxing out at $30 for every 10 reservations made, some diners may find Chope’s rewards a bit too thin for their liking. In response, Chope has begun offering pre-paid vouchers that give up to 20% off the total bill. They have also set up exclusive special deals that you can check out on their website. Available on iOS, Android, and desktop.
 
Perx
If you’re tired of carrying around several loyalty cards, making the switch to Perx may be the ideal solution for you. Touted as an all-in-one loyalty card, Perx lets you collect stamps or points for every purchase made at a participating merchant. Rack up enough stamps and you can redeem them for free toppings, add-ons, upsize and more. How Much You’ll Save: More digital loyalty card than dedicated deals finder, the advantage of using Perx lies in how it eliminates the hassle of juggling multiple loyalty cards. However, if there’s one lesson we learnt during our bubble-tea phase, it’s that small amounts can quickly add up. So if you’re going to indulge in your favourite treats no matter what, you might as well take advantage of whatever perks you can.
Perx has also recently introduced the ability to earn points on your daily commute. By linking your EZ-Link card to your account, you can monetise your trips for even more savings. Available on iOS and Android.
 
Sugar
This Singapore-based start-up wants to help you discover new places to eat, shop and play. The Sugar app tracks your location, and displays a list of deals and discounts from businesses near you. Handy for finding new lunch places or getting to know your neighbourhood a little better. How Much You’ll Save: With Sugar, you’ll save anywhere from 20% to 50% on various offers. To further sweeten the deal, the app also has a “Skim” function that lowers the offer price just that little bit more. There’re several merchants that have joined the Sugar platform, so you can pick from bar drinks, desserts and individual meals, all the way up to sharing platters. Available on iOS and Android.
 
The Entertainer
A virtual coupon book that gives you access to a wide array of dining, leisure, lifestyle, beauty and fitness deals, The Entertainer has something for everyone. However, all their coupons take the form of 1-for-1 offers, so you’ll have to bring along a makan kaki to enjoy the dining deals. How Much You’ll Save: Calculating how much you’ll save is pretty straightforward – a vanilla 50%. However, beyond the first trial offer, you’ll need to purchase the coupon book for $85 before you can make use of the savings within. There are also limited coupons available for each offer, but you can purchase more using your Smiles points – an in-app currency collected based on how much you’ve saved, and by participating in social campaigns. Available on iOS, Android, and desktop.
 
Eatigo
With it’s winning formula of seamless reservation bookings, hefty discounts, and hassle-free model, it’s no wonder Eatigo has emerged as Singapore’s favourite F&B app. What you book is what you get, so there are no finicky rules like minimum number of persons, or paying for a whole stack of coupons just to get the ones you really want. How Much You’ll Save: Eatigo offers discounts ranging from 10% to 50% but do note that the actual discounts vary according to the time slot set by each restaurant. With the app’s large stable of partner merchants, you are just as likely to find discounts on popular haunts, as you are to enjoy hefty savings during off-peak hours. Available on iOS, Android, and desktop.
 
Make Every Bite Count
Eating is truly one of life’s simple pleasures, and with these apps, you can enjoy some serious savings while indulging in your favourite treats. To stretch your dollars even further, use a cashback card to pay for your dining expenses. Consider charging your meals to the ANZ Optimum World MasterCard Credit Card, which (as long as you’ve selected the dining category) allows you to earn 5% cashback per quarter with no maximum cap. 

Friday, September 30, 2016

How Is A Humble Chicken Rice Recipe Worth S$2 Million?

(Singsaver.com.sg, Singapore's leading personal finance comparison platform, provides free and easily accessible resources such as its up-to-date credit card product page and the latest personal loan packages available in real-time.)

Timothy Ho of Dollars and Sense tries to make sense out of the S$2 million valuation of Hong Kong Soya Sauce’s S$2 chicken rice recipe. Can a chicken rice recipe really be worth S$2 million? That’s the question many Singaporeans are wondering after it was reported that the chef-owner of Hong Kong Soya Sauce Chicken Rice And Noodle at Chinatown Food Complex, Mr Chan Hong Meng, is looking to explore a partnership opportunity to expand his Michelin hawker brand. The price? S$2,000,000. Along with a few other conditions that any partner will have to also meet. Valuing the price of a recipe, or the business that currently holds the recipe, is a tricky task. So does one start with the valuation? Here are some possible ways we can think of.
 
 
1. Peer Comparison
One of the most straightforward methods would be peer comparison. Investors and business owners look at similar companies within the same industry that have been sold (or valued) in recent years, taking its value as a base, before adding a premium or discount to it. Mr Chan have said that his asking price was based on the $4 million dollars that Aztech Group paid for Kay Lee Roast Meat in 2014, which also included $2 million for the shop that they own. The possible flaw in his argument, however, could be whether or not he is actually selling his business, as what the former owners of Kay Lee did, or simply looking for a strategic partner to help him expand the brand. If he is selling his business, that valuation could make sense based on the deal that was done for Kay Lee Roast Meat. However, if he is looking for a business partner, then the $2 million dollar is similar to what is called in the venture capital space as taking “cash off the table”. This means that in spite of being a future partner in the business as what he said he wanted to be, the founder is also personally cashing out a significant chunk of value in the form of the $2 million payouts. Don’t get us wrong. There is nothing wrong with enjoying a great one-time off payout especially in the later years when you are near retirement or contemplating the possibility of retirement. But one cannot have it both ways. Unless Mr Chan holds the majority in the new partnership, he is unlikely to have any say or control of the future expansion of the business.
 
2. Multiple Of Revenue
Another way to valuate a business would be to base it on a multiple of its revenue.  But how much revenue does Mr Chan stall generate? Let’s do some estimates. Mr Chan shared that he sells about 180 chickens a day. At a price of $14 per chicken, we can estimate his sales to be about $2,520 each day.
Chicken Sold Per Day
180
Price Per Chicken
$14
Revenue Per Day
$2,520
Days Per Month
24
Total Revenue Per Annum
$725,000
If we assume 24 days a month schedule, that would give us a revenue of about $725,000 per annum. Based on a valuation of 2 times revenue, such a business could be worth about $1.45 million. Add in the Michelin star that it has and the valuation of $2 million would reasonable.
 
3. Projected Future Profits
Instead of revenue, an investor could also base current valuation on projected future profits. For example, if we assume that the current net profit margin the business enjoys is 25% (this is just a guess and include labour, rental, taxes and cost of goods sold), then current profit based on estimated revenue would be about $180,000 per annum. An investor could be confident of expanding the brand both locally and globally. They may also aim to charge more to increase profit margin, which wouldn’t be a bad idea given the brand name of the business and the willingness of Singaporeans to queue and pay for good food. Given the current brand value that the company already has, increasing profits by about 4 times could be the goal. If that happens, net profit could be about $720,000 per annum. Assuming a price-to-earning (P/E) of about 6 times, we could be looking at a business that might be worth about $4.5 million in the future. That’s not a lot, especially for a strategic investor.
 
4. Brand Value And Operational Synergy
A strategic investor who is already known in the F&B sector could find the potential partnership with Hong Kong Soya Sauce Chicken Rice an attractive one. Given the fact that the stall already has a loyal fan base in Singapore, it is likely to be able to generate its own cashflow for years to come. In addition, the Michelin Star it has already earned puts it on the tourist map, a strategic investor could see limited downside to the investment. At the same time, the upside could potentially be quite high, especially if operational synergy can be obtained.
 
Is S$2 Million Too Much To Pay For A Chicken Rice Hawker Stall?  
In our opinion, a non-strategic investor would find the sum of $2 million to be too high. Unless they have access to lots of capital to expand aggressively, in addition to the $2 million they have to pay, it would be difficult to grow. Another Chicken Rice brand, Sin Kee Famous Chicken Rice Recipe, was also sold recently for $42,600. That could represent better value for money if getting a recipe is what a buyer is looking at. On the other hand, a strategic investor, perhaps a Group that is already running a few F&B businesses, could find this a meaningful partnership to enter into. For such a group, the downside to this investment would be limited, given the brand name already established. If an investor is able to sync up the chicken stall to its existing business operations, the returns could prove lucrative. Only time would tell how well this development pan out.