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$32m luxury goods scam and a victim who lost $18K.

Wednesday, July 27, 2022

Some people must be wondering why AK has not blogged in so many weeks?

Regular readers of ASSI shouldn't be surprised anymore as AK spends most of his time in other worlds.

I am still spending time in Neverwinter and Genshin Impact.

I had to drop Black Desert Online and Star Wars The Old Republic.

Just don't have enough time especially when I am trying to get back to a healthier way of living by having some physical exercise which is either climbing 80 floors of stairs or walking 10,000 steps a day.

I still stay updated on money matters as much as possible like how Sabana REIT's DPU went up but ESR REIT's DPU went down.

Sabana REIT's gearing level is lower while ESR REIT's gearing level is higher.

Sabana REIT is trading at a 15% discount to NAV while ESR REIT is trading at a 15% premium to NAV.

Just saying.

I like climbing stairs more because it is efficient and it is also safe to read the news when I do it as it is unlikely that there would be anyone else climbing 80 floors at the same time and in the same block which might result in an accident.

I don't always read serious stuff.

I am only human and like gossip from time to time.

Just now, I read about how a couple ran away with $32 million which customers paid them in advance for luxury goods.

There are so many things that I could say about this but a friend told me before to live and let live.


Rich people can afford and if they don't buy luxury goods, they cannot bring their money with them when they die anyway.


Eh, I don't know.

You say leh?


You say AK is 铁公鸡?

Of course, readers who have been following my blog for a long time would know what AK would have said in the past.

AK changed liao.


Cham lah.

But hor I really couldn't tahan when I read the case which was mentioned at the end of the article.

Some person helped a friend to order an $18,000 Rolex watch from the scammers and said that the friend is very pissed now because that is a big part of his savings.

Of course, I don't know if really is bought on behalf of a friend or too shy to say is for himself.

$18,000 is a big part of his savings?

What percentage would be a "big" part?

It is different from person to person but if $18,000 is a "big" part, why buy a Rolex watch with it and from a dubious source too?

Face palm like that.

It reminds me of what a friend told me before.

Once we are making $5,000 a month or more in employment, we should go and buy a luxury brand watch like a Panerai or Longines to show people that we have arrived.

Who are the people?

AK blur.

People care meh?

I don't care.

Also, arrived where?

Obviously, wherever it is, I have not been before.

AK blur again.

How like that?


I only know that I didn't get to where I am by using a "big" part of my savings to buy luxury goods.

1. $1 million and stair climbing.
2. Not successful in SG unless you do this.
3. Retiring by 40 is a fantasy for most.
4. Buying a $500,000 watch...
5. Sabana REIT: Closer to 52c NAV.


Unknown said...

Nice Post AK! Have to chant the mantra regularly =D
"luxury goods purchase to show who,
who cares if you wear Rolex or watch from Rochor,
Help a friend to buy Sabana Reit with 18k,
he will instead have 6% DPU per annum!"

AK71 said...

Hi Unknown,

Alamak, was that what you took away from this blog?

I thought I said live and let live leh.

Where got say don't buy Rolex and buy Sabana REIT?

bu yao hai wo (TmT)

SgFire said...

Condo, watches, bmw, gold ring, etc. All for show but cashflow is real

Steven said...


AK71 said...

Hi SgFire,


Why I choose to stay in a condo?

My passive income from 2015 all gone.

Vintage Rolex watches.

AK is in trouble liao.

Very cham. (TmT)

AK71 said...

Hi Steven,

I also LOL and maybe ROFL. ;p

SgFire said...

Ak , watch and house were a bargained. The bmw.. ..too

AK71 said...

Hi SgFire,

Yeah, I like to think that I got them at bargain prices too.

Most importantly, I did not use a big part of my savings.

OK, I feel better now. LOL. ;p

SgFire said...

Renewing coe? Now very cham...if i were you i will not

AK71 said...

Hi SgFire,

COE prices are crazy high. (TmT)

However, extending the COE by 10 years in some instances could still be a better option than getting a new car.

If I owned a Mitsubishi Attrage that has done high mileage, I wouldn't bother.

Since I own a CAT A BMW that does around 8000 km per year, it probably makes sense to extend the COE.

The car is practically brand new. LOL.

Having said this, I will decide when the time comes.

Still a few years to go. :)

SgFire said...

Ak, What is TMT?

AK71 said...

Hi SgFire,

Oh, it is the latest emoticon I picked up. :)

Just another crying emoticon like :_( and T^T.


Looks like a crying bear. ;p

SnOOpy168 said...

I am still having the 10+ years old black plastic NS-days Casio watch that I bought from Mustafa at $20+. The battery change was an annoying expense between $7 - 10, depending where I am. I spoke to a stall holder at Chinatown Hawker Centre about this. The elderly uncle kindly show me where he changed his watch battery. $4, Japanese-branded battery. hahaha. OKOK, I plated of chicken rice almost earned

Got smartphone still wear watch. Yeah. this is a backup time teller and always by my side during any travel or wet outdoor sports

AK71 said...

Hi SnOOpy168,

Oh, I remember the cheap Casio watches.

The last time I bought one was for $12 in Lucky Plaza and that was only a few years ago.

I figured that it made more sense to get a new watch than to replace the battery what with the o-ring being worn out and not being water resistant anymore.

The battery is very long lasting and could last easily 8 to 10 years.

I wear the watch when I go climbing stairs and walking. :)

Rellangis said...

Hi AK,

Can consider getting a Garmin which can track lots of health stats (steps, heart rate, VO2max , sleep quality, stress level, etc) and also link it with Health365 app can get HPB evouchers too (whenever you unlock certain milestones in the app).

AK71 said...

Hi Rellangis,

Oh, I have the free tracker watch from HPB.

I should learn how to use it.

Thanks for the reminder. :D

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