In our shipping container business, we trade in US Dollars. I remember 6 years ago, every US$ I made was equivalent to S$1.82 (Singapore dollar). So, you can imagine my excitement when I sold my first container.
That euphoria started to diminish as the exchange rate became less favourable as the years went by. Today, it had sunk to a disappointing low. Every USD we make is merely equivalent to S$1.38!
That doesn't seem like alot but assuming for every US$1 million in revenue, we make S$440,000 lesser now compared to then! That, coupled with inflation and rising costs, only means we have to work much harder in today's difficult market.
Now I am beginning to see why my dream house is getting out of reach, especially in our buoyant property market. I'm sure many other people are affected too.
I see a business opportunity here. Maybe I should build and sell container houses. Any takers?