This article summarizes a conversation with Alexander Knight, a Londoner living in Singapore for almost 20 years and running a whiskey cask investment company. The discussion covers various aspects of life in Singapore, from its unique cultural blend and regulatory environment to its appeal as an investment hub.
Singapore: A Unique Place to Live
Openness and Tolerance
Singapore is described as surprisingly liberal compared to other Southeast Asian countries. While laws and regulations exist, there's a general sense of tolerance and freedom, allowing people to pursue their interests as long as they don't infringe on others' space. This "live and let live" attitude is considered a major benefit.
Balancing Rules and Freedom
Newcomers to Singapore can be overly cautious about breaking rules, however the reality is that generally if you follow the rules, you are left alone.
Quality of Life
Singapore's advantages over other Asian cities, such as Bangkok and Kuala Lumpur, are highlighted. The speaker mentions that while Bangkok might offer good business opportunities, the chaotic traffic and challenging living conditions can become tiresome. Kuala Lumpur, while potentially appealing, often feels like an unfinished version of Singapore.
Infrastructure and Competency
Singapore, along with Hong Kong, is praised for its high level of infrastructure and competent governance. A testament to this is the fact that tap water is safe to drink in both cities, unlike many other places in the region.
Hong Kong vs. Singapore
Hong Kong is presented as an interesting alternative to Singapore, with its vibrant culture and beautiful scenery. However, its high cost of living and 24-hour party atmosphere might not be suitable for everyone. While Hong Kong is territorially larger and connected to mainland China, Singapore offers a more manageable and perhaps less intense environment. Hong Kongers are seen as more entrepreneurial than Singaporeans.
Immigrant or Expat?
The discussion touches upon the distinction between "immigrant" and "expat." Some long-term residents, even fifth-generation Singaporeans, remain Permanent Residents (PRs) rather than becoming citizens, creating a unique situation. The speaker considers himself an expat due to his perception of his stay as ultimately transitory. While Singapore is a great place to raise children, he is unsure if he would retire there.
Retirement Plans
Many Singaporeans reportedly prefer to retire in places like Malaysia or the Philippines, where they can enjoy more space. However, Singapore remains attractive for its excellent infrastructure, safety, and reliability, particularly as people age and seek stability.
Singapore Through the Years
Stages of Adaptation
Reflecting on his nearly two decades in Singapore, the speaker notes that the initial years were spent assimilating and establishing a family. The English-speaking environment and efficient systems made the transition relatively smooth.
The Absence of Seasons
One notable aspect of Singapore is the lack of distinct seasons, which can sometimes blur the passage of time.
Historical Perspective
While Singapore is a relatively young country, the speaker finds historical significance in the city's colonial architecture and its role in the British Empire.
Assimilation
The assimilation to Singapore felt natural due to similarities to the UK, like double yellow lines on the street.
Shifting Priorities
The rising cost of living is a concern, but the relatively low tax rates compared to European countries make it a worthwhile trade-off.
Education
The speaker chose local primary schools for his children to immerse them in Singaporean culture, before transitioning to international schools for secondary education to broaden their exposure to arts and sports.
Wildlife Encounters
Wildlife encounters, such as snakes and monitor lizards, are a common occurrence in Singapore, adding a unique dimension to city life.
Dengue Fever and Public Health
Singapore's efforts to control dengue fever through the National Environment Agency (NEA) are acknowledged, even though the agency's right to enter private property for inspections can be intrusive.
Advice for Newcomers
Be Relaxed and Prepared
The most important advice for those considering a move to Singapore is to be relaxed and embrace the efficient systems. Ensure all paperwork is in order to avoid bureaucratic delays.
Explore Local Areas
Consider living in local neighborhoods initially to settle in and explore the city.
Networking
Join clubs and associations to build a network of contacts.
Investing in Whiskey Casks
Tangible Investment
Whiskey cask investment offers a tangible alternative to more abstract investments like cryptocurrency.
The Whiskey Car Club
The speaker's company, Whiskey Car Club, allows individuals to invest in whiskey casks, which are stored in bonded warehouses in Scotland.
Benefits of Whiskey Investment
The investment offers potential returns and a fun, low-maintenance experience. Investors can choose to sell the cask, bottle the whiskey, or even consume it themselves.
Expected Returns and Risk
The historical returns on whiskey cask investments average between 12% and 18% per year, but this is not guaranteed. Potential risks include the possibility of fire, which is covered by insurance.
Top Questions
People want to know if the cast exists, what happens if there is a fire, and if they can go see the cast.
Alternative Investments
Compared to other alternative investments like art, classic cars, and watches, whiskey casks offer a relatively low entry point.
Discount
A friends and family discount will be offered to those who are coming from Max Chernov.
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