Ms Carly Voon, 42, is the reigning International Mrs South-east Asia. Together with her husband, Mr Khor Hai Pu, 43, she is also the founder and director of two construction-related firms. They are Malaysia-based Assessment Ventures and Exponential Achievements.
It is no coincidence that she believes properties are the best investments, as long as one has the holding power.
Ms Voon - a Malaysian who is a Singapore permanent resident - feels that this is the right time to invest in Malaysian properties and to keep them for at least five years. This is because property prices have dipped due to the current economic downturn and the Singdollar is strong.
'Go for condos with facilities that are targeted at expats. Also, go for the three cities - Kuala Lumpur, Penang and Johor Baru,' she said.
A former Chinese-language teacher in a primary school in Penang, she came to Singapore in 1989 to pursue a diploma in beauty therapy at June Beauty School. After she became a certified beauty instructor, she worked at the beauty school for a year. She got married in 1991, and she and her husband went to Britain where he pursued a master's degree in control engineering at Sheffield University. During that time, she got a diploma in facial manual lymph drainage in London. The couple have two adopted boys, Kai Yang, three, and Kai Ping, two. Ms Voon is currently pregnant.
Her other beauty titles include Mrs Malaysia United Nation (2008), Mrs United Nation of Asia (2008) and Mrs Malaysia International World (2007).
Q: Are you a spender or saver?
I am a saver but I'm not a slave to money. I save 60 per cent of my income, spend 20 per cent and invest 20 per cent.
Q: How much do you charge to your credit cards every month?
I own three credit cards. I draw RM3,000 (S$1,240) from the ATM each month. On average, my total monthly credit card bills are about RM2,000 to RM3,000. I ensure that the balances are paid on time monthly.
Q: What financial planning have you done for yourself?
I invest in foreign currencies, mainly Singdollar and the Australian dollar, and property. I have RM500,000 in SGD and AUD fixed deposits and another RM200,000 in an RM fixed deposit.
I lost nearly $100,000 in shares, such as in Chartered Semicon where my husband used to work, so I've lost confidence in the share market. I believe that as long as I've the holding power, I can do better in property. I will buy in a downturn area and keep it for 10 years or more.
Q: Moneywise, what were your growing-up years like?
I am the third child in a middle-class family of six. My father was a businessman who did rubber and rice trading. My mother was a housewife. We lived in a four-bedroom landed property in Penang. I was influenced in my saving habit by my mother, who always encouraged me to save half of what I earned. My mother would put 50 per cent of what my father gave her every month into a fixed deposit. She also saved the children's hongbao money. She was a very good saver.
Q: What properties do you own?
In September 1996, we bought a 99-year leasehold 900 sq ft condo unit in Simei for $660,000. When we moved to JB a year later, we rented it out but the rentals kept dropping so we decided it wasn't a good investment. We lost $200,000 when we sold it for $460,000 in 2002.
Currently, I own two properties and they are in JB and Penang. The former is a 1,630 sq ft condo unit at Straits View. We paid RM650,000 for it in 1997. It is surrounded by a golf course, has a sea view and is a 15-minute drive to the Causeway. However, the value has since dipped to RM550,000. It is rented out at RM4,500. My Penang condo unit is 1,200 sq ft and it was bought in 1996 for RM300,000. The value is now less than RM250,000. It is rented out at RM1,200. Both are freehold and are fully paid up. I'm confident that property prices will go up in the long run.
Q: What's the most extravagant thing you have bought?
It is my BMW 525i. I bought it for RM400,000 in March this year. I love the car as it gives me a sense of achievement. I never dreamt that I would own such a car when I was a teacher 22 years ago.
We have to pamper ourselves. Use a small fraction, say 10 per cent of your total assets, to buy an item which you like most.
As a businesswoman, I need a reliable and reputable car to impress my clients.
Q: What's your retirement plan?
I am semi-retired and I enjoy charity and community work. I believe that people should not retire completely. If you enjoy your work, you can be a consultant working three to four days a week and three to four hours a day.
I estimate that RM5,000 a month will be sufficient for my family's monthly expenses. I have travelled to 38 countries. I plan to travel to 100 countries. I love the different cultures, food and music.
I will buy a piece of land to grow organic vegetables, fruit and raise chickens. I will plant trees and name them after my beauty titles: Mrs South-east Asia, Mrs United Nation of Asia and Mrs Malaysia International World. I am currently the ambassador of a company promoting an environmental friendly device. I will take the opportunity during my travels to promote self-grooming among married women and encourage them to participate in beauty contests.
Q: Home is now...
My Johor Baru condo apartment.
Q: I drive...
I drive a white BMW 525i.
This article was first published in The Straits Times.
