Along with the rapid growth of technology, people demand more convenient way of how they conduct transactions. “And the world is in the making of cashless societies, everywhere including Indonesia,” says Tommy Singgih, director of Mastercard Indonesia. Over an afternoon chat in his office in South Jakarta’s elite area, Tommy says that what sets the increasing trend of digital payments is their convenience especially when compared to traditional payment method. “You just need to tap your … [Read more...]
Setting World Records
Rare stamps fetched high prices at an auction as they established new world records. ZurichA Asia, one of the leading stamp auction houses in the region, held the auction house on September 29, 2013 featuring rare stamps, philatelic treasures and works of art in Hong Kong. The top-selling lot was a horizontal pair imperforate-between variety of 1885 Small Dragon 1 candarin which realized HK$920,000 (US$119,171). Establishing a new world auction record, the pair boasts the brightest color … [Read more...]
Sotheby’s finest & rarest wines achieve high prices
Sotheby’s two wine auctions achieved a combined total of HK$35.2 million / US$4.5 million, exceeding the combined pre-sale estimate (HK$26 million / US$3.4 million). The top lots for each sale were Romanée-Conti 1989 (1 methuselah - 6 liters) which sold for HK$875,000 / US$112,179 (Est. HK$500,000 - 800,000 / US$65,000 – 100,000), and Hermitage La Chapelle, Paul Jaboulet Aîné 1961 (6 bottles) which fetched HK$735,000 / US$94,231 (Est. HK$280,000 – 380,000 / 35,000 – 50,000) … [Read more...]
Asia’s New Rich
As Asia emerges as the world’s largest wealth region, the one question foremost on the minds of all private bankers should be this: what does a typical Asian client look like? By Shayne Nelson, Global Head of High Value Client Coverage and CEO of Standard Chartered Private Bank Asia’s high net-worth individuals (HNWIs) – those with USD 1 million or more investable assets – are in general younger than their western counterparts. According to Capgemini and Merrill Lynch, 41 … [Read more...]
Analysis: The next boomtowns to focus on
By Vivin Harsanto, the National Director and Head of Strategic Consulting at Jones Lang LaSalle Published in The Jakarta Post, May 3, 2013. Along with the government’s efforts to spread economic growth to all provinces, the property industry has been keeping a weather eye on the increased demand for residential and commercial estates outside Greater Jakarta. Megalopolitan Jakarta has been experiencing tremendous growth in urban development with improved infrastructure and increasing … [Read more...]
Investors’ Best Friend
Not only do they last forever, diamonds also yield a remarkable pricing zeal proven to be recession-proof. It is present at your life’s biggest moments – engagement and wedding – and still probably wrapped around your ring finger for all these years. No matter how big or small they are, diamonds are a form of investment that not many are aware of. Some may have heard the term “Blood Diamond” – starred by Leonardo Dicaprio in a film back in 2000s – but then again when one is asked about … [Read more...]
Sip, Swirl and Sell
If you’re looking for a crisis-proof investment that’s practically easy to do, red wines happen to retain not only good taste, but also good money as time goes on. Wine as part of drinking habits is now inseparable to those growing countries in Asia. The better economy proves that more palates demand higher quality, taste and, ultimately, brands. And this is where exactly fine wine investment chips in... Bottling up big profit in the disguise – or real facets sometimes – of all the three … [Read more...]
Putting the ‘Sure’ in Insurance to Plan Ahead
Life insurance is indeed the cornerstone of financial planning. Not only does having a life insurance policy provide economic protection against unfavorable events, but no less important, it is a source of funds to secure a financial future. For those having a family that depends on their income, the policy allows the family to use the proceeds to help replace the policy holder’s income and eliminate his or her debt if something happens to the bread winner. Regardless of one’s quality of … [Read more...]
Saving for a child’s education: Parents should plan ahead
Joy, happiness and a sense of accomplishment usually greet parents the first time they hold their newborn. This is the dawn where the parents' dreams and expectations start for their child's future. Moments of pondering if their child can master foreign languages, science and computer skills. Or develop musical and art talents as well as actively engage in sports. Such dreams can be achieved through education. However, schooling is high cost nowadays, and sending a child to a good school … [Read more...]
Property Haven
Singapore remains the favorite haven for wealthy Indonesians seeking to invest in high-end property. Thomas Tan, director for residential marketing at Raffles Quay Asset Management, says that Indonesia continues to show its stronger demand for the purchase of high-rise residences in Singapore. He adds that around 30 percent of the foreign buyers who have purchased the new 221 units of the 66-storey Marina Bay Suites are Indonesians. About 70 percent of the units have been sold to … [Read more...]