Be a plumber or be unemployed?

I read an article in The Straits Times today on how a 50 year old Chinese plumber makes RMB10,000 a month clearing drains in Wuhan, Hubei, China. This is about S$2,000 and about 5 times more than what a fresh graduate in China is able to command as an office executive.

The plumber has saved enough money to buy a car and pay off his mortgage, feats which Chinese office executives are envious of. So, could we expect more graduates to become plumbers in China? Most unlikely.

"Over a quarter of new college graduates are avoiding more physical work as electricians, plumbers, and drivers in favor of office jobs, according to the Labor Ministry, despite average starting salaries less than half of what’s on offer elsewhere."

It was reported that fresh graduates in China would rather remain unemployed than to take up a job that involves menial labour. A fresh graduate, after six months of being jobless, admitted that he could get a job as a blue-collar worker which would pay well but he would rather not do it. Why? It would not sound good when he tells people what he does.

Now, I wonder if we gave the plumber a fancy title, would that help? Sanitation Specialist? Does it sound better?

Anyway, this case is not exceptional as a survey found that 6 in 10 graduates in China would prefer to be a white collar executive making RMB 3,000 a month instead of a blue color worker making RMB 5,000 a month.

I don't think this situation is unique to China either. It is probably the same anywhere.

Is a society more advanced when its people are more concerned about class than financial well being? Class could take many forms, of course, and not just in the form of job titles.

What about the place of work and the dress code? Is working in the CBD and wearing a tie and jacket at work more prestigious than working in a warehousing district and wearing jeans and t-shirt at work? What if the latter were to pay twice as much as the former?

Should we care about how people look at us or how our bank account looks?

Related post:
A movie: The Iron Lady.

SGX: Heavy selling.

SGX Centre Two

SGX's share price could go as low as $6.30 in time. This is the neckline of a reverse head and shoulders pattern which formed from November 2011 to January 2012.

However, both the rising 50d and 100d MAs should provide some support in case of further price weakness. Would they be strong enough to prevent a more drastic decline in price? Your guess is as good as mine.

If I were interested in getting in on the long side, I would pay attention to the 100d MA. See how a trendline connecting the lows of December 2011 and January 2012 seems to approximate its position? Should be a stronger support than the 50d MA and if it should go, $6.30 is the next support.

March 6: Noble Group, Singapore Exchange, Swiber, Hi-P International
Tuesday, 06 March 2012

© 2012 - The Edge Singapore

Sembcorp and SembMarine.

SembCorp's share price broke through the 20dMA as if it didn't exist. Could we see the rising 50dMA tested for support eventually? It is now at $4.70.

SembMarine's share price gapped down dramatically on the back of extremely high volume. It would not surprise me if the 50dMA should be tested for support in the next few sessions. It is now at $4.74. If the selling pressure is strong enough, we could see that giving way too. $4.36 in time? Possibly.

Temasek raises $328m from SembMarine stake sale
Tuesday, 06 March 2012

© 2012 - The Edge Singapore

Sembcorp Marine shares fall after news of Temasek stake sale
Tuesday, 06 March 2012

© 2012 - The Edge Singapore

Tea with AK71: My briefcase.

When I first started work as an adult, I spent almost $200 buying a leather briefcase. I saw it in a mail order pamphlet, thought it looked nice and the price rather reasonable. It lasted some two years before giving way. So, did I buy a new briefcase? No.


One of my vendors gave me a briefcase made of fabric. It was much lighter than the leather briefcase I had and it was free! I was very pleased with that briefcase and used it with pride until it too gave way a few years later.


My third briefcase was also made of fabric. Again, it was free! Wow! That was a free bag from a periodical I subscribed to. I believe it was Asiaweek. I don't see this periodical anymore. Could be defunct now.

Since the demise of the leather briefcase I first bought as a working adult, I have never bought another briefcase. Every single one was free since.


Over the years, I would collect free briefcases. Collect? Yes, they were free from merchants, banks or malls when certain conditions were met. In recent years, I also received two briefcases as presents from friends, a leather one and a fabric one.

My current briefcase is my favourite, a very lightweight fabric bag that has lasted me four years but it has finally given way. It has torn but I want to continue using it for a while more.

Free bag from United Colors of Benetton.

After years of faithful service, it is fraying.

This was a free bag from United Colors of Benetton. Yes, it is branded!


The bag was given free to my sister for purchasing a certain minimum amount from them. She didn't want it. So, I took it!


This was probably 8 years or so ago. I can't be sure but it was a long time ago. I think the shop was in Centrepoint.


Well, nothing lasts forever really, not even a diamond, scientifically speaking. I would have to retire this bag one day and choose a replacement from my ready stock of free briefcases at home. ;p

Related post:
Money management: Needs and wants.

A movie: The Iron Lady.

I just watched "The Iron Lady" in which Meryl Streep plays Baroness Margaret Thatcher, the powerful former leader of Great Britain. Meryl Streep's performance was entrancing and she got the accent down pat!

It was a sad movie in the end but it was a sadness with an air of dignity.

Many things that Baroness Margaret Thatcher stood for in the movie resonated with me and I feel that Singaporeans or anyone, for that matter, would benefit from her wisdom.

This left the deepest impression on me:

“What I do think is a man should be encouraged to stand on his own two feet. Yes, we help people. Of course we help people, but for those who can do, they must just get up and do. And if something’s wrong, they shouldn’t just whine about it. They should get in there and do something about it. Change things.”

I have, whenever and wherever appropriate, made comments to the same effect.

When people tell me that they are just average people and that they cannot achieve financial freedom, I tell them to stop being average. Be more than average. Often, we are our worst enemies.




Related posts:
1. Do you want to be richer?
2. Envious? Find our own way.

Losing your hair?

Some of us might be suffering from pre-mature hair fall. I know many friends who are pulling out their hair because of this problem. Er... ok, bad joke.

Anyway, if you suffer from pre-mature hair fall, why not give natural remedies a try?

TK TrichoKare is a holistic hair and scalp care centre that provides European Herbal remedies (consisting natural botanicals such as Jojoba, Rosemary, Nettles, Burdock, Aloe Vera and Lavender) for all hair conditions.

Fill out your details and enjoy a special introductory price at TK TrichoKare: here.