Travel, Itineraries & Guides, Hotel Reviews
Makati’s Poblacion has been touted as a buzzing and must-visit portion of Metro Manila for a couple of years now, with international magazines even hailing the nightlife scene there as one of the most quirky in the country. It’s perhaps of no surprise then that when I checked in at City Garden Grand Hotel, the bulk of hotel guests were foreign travelers spending a couple of days in Manila prior to flying off to the islands.
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The building that now houses the Fairmont Makati and Raffles Makati was announced with much fanfair back in 2007. The entry of a new luxury hotel chain in Manila at the time marked the start of a flourishing decade for luxury hospitality in the Philippine capital after years of stagnation. The condominium units that accompanied the hotel were also marketed as being the most expensive in the entire country, a title that may still hold true to this day.
lobby of fairmont makati
For the casual traveler or staycation-er, the location of Fairmont Makati couldn’t be more ideal. Located just next to Glorietta and across the street from Greenbelt, moving to some of the most compelling lifestyle and dining destinations in Makati require no more than a short stroll – a godsend given Manila’s notorious traffic jams.
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Hiryu opened a couple of months ago in Tras Street as a Japanese restaurant specializing in inventive Japanese cuisine.
It is helmed by Chef Raymond Tan who has spearheaded other well known Japanese restaurants such as Sushi Jin, Sushi Murasaki and Kurama Robatayaki. He also served a stint at Fat Cow.
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15 Stamford by Alvin Leung has officially opened at The Capitol Kempinski Singapore. Helmed by the so-called “demon chef” Alvin Leung who holds 3 Michelin stars for his Bo Innovation restaurant in Hong Kong, the venue pays tribute to various Asian cuisines such as those from Korea, Philippines, Thailand, Malaysia, Hong Kong and Singapore.
15 stamford interiors
The menu at 15 Stamford by Alvin Leung consists of Asian favorites but with creative twists through Chef Leung’s contemporary touch. I had the opportunity to visit the restaurant one day before it opened and I must say I was impressed.
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With Singapore Dollar interest rates rising steadily over the past year as reflected by the one month SGD SIBOR Rate, Citibank’s Citi Maxigain Savings has become one of the better CASA accounts to go for to earn decent interest, especially since it does not require clients to credit their salaries there. Just to illustrate roughly, if you had qualified for the 12th counter and assuming the current SIBOR Rate of ~ 1.64%, you would have been earning 2.51% p.a. with the MaxiGain. This is all the more compelling when you consider what some corporate retail bonds are yielding at the market. Temasek’s 5 year SGD bond which pays a coupon of 2.7% p.a. is currently yielding only 2.42% p.a. and that comes with interest rate risk.
The adage that all good things must come to an end rings true for the Citi MaxiGain Savings, at least to an extent. It was only a year back when I first wrote about the Citibank MaxiGain Savings Account. Citibank recently announced a slew of changes to the terms and conditions of this CASA product. These are:
Before: Base interest of 80% of 1 month SGD SIBOR for the first S$150,000 balance
Perhaps the change that hurts the most is the fact that one of the things that made the MaxiGain such a great account – its ability to at least track interest rate fluctuations – will be diluted somewhat. A change of 80% of SIBOR to 70% of SIBOR equals roughly 0.16% p.a. This is not a biggie in the greater scheme of things. Based on current SIBOR and assuming you are within the S$150,000 ceiling, this is equal to roughly S$20 of foregone interest per month. However, if you consider this feature’s ability to track current interest rates, this presents a somewhat noticeable potential loss. 1 Month SGD SIBOR reached its all-time high of roughly 3.50% back in late 2006. If it were to reach that level again, the reduction in the base interest multiplier certainly reduces the capacity to potentially earn more as interest rate rises.
Before: Daily end balance of S$10,000 was needed in order to earn base interest
Again, this will limit one’s ability to maximize the interest in this account. In the past, while S$10,000 was the minimum to earn base interest, most people started with S$15,000 anyway as this is Citi’s minimum relationship balance required to avoid any fall below fees. The revision puts those clients who are maintaining between S$15,000 to S$70,000 in a bit of a bind. Typical folks that fit within this profile are young professionals who have been in the workforce for a few years or people who maintain multiple “high interest” kinds of accounts and put anything extra into the MaxiGain. With the changes effective 2019, the MaxiGain won’t be as good a deposit product unless you have at least S$70,000 to spare.
Another segment of clients affected are those who are relatively new into the account. A common tactic for those who opened the MaxiGain back then is to park S$15,000 first and wait for the counter to reach somewhere more respectable (i.e. the 6th counter) before they start pouring in the rest of their savings. With this revision, there’s now a bigger opportunity cost involved. Now, you’ll have to start by parking S$70,000 (instead of S$15,000 before) and earn only the base interest (roughly 1.14% p.a. considering current SIBOR levels) while waiting for the counters to progress.
Before: No cap on the amount that can earn bonus interest
When the revision kicks in, any amount over S$150,000 will earn a customary 0.05% pa. Prior to that, any extra balance could have earned max 1.20% pa bonus interest which is still ok considering there aren’t a whole lot of conditions attached to this deposit product. After the revision on the 02 January 2019, it will make little sense to park more than S$150,000 into the Citi MaxiGain Savings.
When it comes to hotels in Seoul, most visitors are probably familiar with The Shilla Hotel as the epitome of Korean hospitality and luxury. In recent years, the group has diversified specifically with the launch of the Shilla Stay concept in 2013. Shilla Stay aims to be a more accessible and no-nonsense brand, with spaces that evoke the design and sensibilities of The Shilla but at a more affordable price. With its first hotel in Hwaseong, the offshoot brand now has eleven properties scattered all over the country. In Seoul specifically, the chain has a number of properties and depending on what you are after, each location has an edge. For instance, the hotel in Yeoksam suits those who prefer to be in the upscale Gangnam area while the one in Seonam is easily accessible from Seoul Station. During my recent visit to South Korea, I stayed in Shilla Stay Gwanghwamun which is ideal for those looking to do a mix of both sightseeing and shopping while in Seoul.
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Perched on a hill in leafy Labrador Park, the Thai restaurant Tamarind Hill feels like a world away from the density of Singapore. Along with the nearby boutique hotel Villa Samadhi, this dining and lodging complex is part of Samadhi Retreats and indeed being here – even if you don’t stay overnight – is akin to being in a retreat. There’s little of the noise or endless chatter here that one would come to expect when dining in a restaurant. The presence of both outdoor and indoor seating areas means that it’s usually possible to find a cozy and intimate area to dine. I was given a welcome drink as I entered as well as the ala carte menu. The menu at Tamarind Hill ticks the right boxes where an upscale Thai restaurant is concerned with the usual suspects such as curry, tom yum and fish cakes going alongside some pleasant surprises such as wagyu beef in the meat section.
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It has been a long while since I’ve gone for the Halloween Horror Nights at Universal Studios Singapore. I went for the first one in 2011 and remember being awed by the visual effects and dedicated actors who made the haunted houses as spooky as possible. This wasn’t the usual amusement park scary house as I soon discovered. I went for my second one in 2016 and the enjoyment was not at all diminished despite being five years older.
This year’s Halloween Horror Nights is a play on Asian horror. There are Malay, Chinese and Japanese themed horror houses that complement a Netflix tie-up, Stranger Things. In total there are 5 haunted houses, 2 scare zones and 3 live shows this year.
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