Tan Kin Lian says S’poreans have less spending power than M’sians despite higher pay

Ex-presidential candidate Tan Kin Lian said that Singaporeans who think they are better off than Malaysians because of their higher earning power “overlook one important point.”

In his May 5 Facebook post, Tan highlighted how Singaporeans may be left with a smaller margin of their salaries for food and daily expenses.

This is because the cost of housing and private cars in Singapore is much higher.

"The cost of housing and private cars in Singapore is high. The disposable income for food may be only 20% or say 600 SGD.

The cost of housing and private cars in Malaysia is much lower, which means that they have a higher disposable income to pay for their food. I think it could be 40%."

He also said Singaporeans will struggle more with the price of food, adding that “the same food that costs RM 12 will not cost $3.50 in Singapore but may cost $8.”

However, Tan acknowledged that this is merely his observation and he “may be wrong”.

You can see his post below.

The Malaysian Ringgit vs the Singapore Dollar

As of May 7, the RM is valued at 3.28 per SGD.

According to the Straits Times, the RM has been performing well since its rapid growth last year when it rose 6 per cent from 3.4762 per SGD on Jun. 28 to 3.2584 per SGD on Sep. 20.

However, in Dec. 2024, a man who moved from Kuala Lumpur to Singapore said that he spent more money on food in Singapore than in Malaysia.

Background

Tan is a Singaporean businessman who contested the 2011 and 2023 presidential elections.

He is also the former CEO of NTUC Income.

Tan often posts about the property he bought in Johor Bahru, Malaysia and his visits across the Causeway on his social media.

One property he frequently mentions on his social media is Forest City, which he frequently adds photos of the place.

The property has been somewhat of a tough sell, housing roughly 9,000 residents as of March 2024, instead of its projected 700,000.

Top photos via Tan Kin Lian/Facebook & Tan Kin Lian/Instagram