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S'poreans chasing new 5 Cs

Singaporeans are finding fulfilment in a new set of five Cs, going by the results of the latest OCBC Bank's survey.
The Business Times - October 12, 2012
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S'poreans chasing new 5 Cs

SINGAPOREANS are finding fulfilment in a new set of five Cs, going by the results of the latest OCBC Bank's survey.

The 5 Cs, summing up the good life in Singapore - cash, car, condominium, country club membership and credit card - have been overshadowed by a set of new Cs comprising non-material possessions, OCBC said.

The survey, which aimed to understand customers' definition of wealth, found that 65 per cent of respondents rate the new Cs - control, confidence, community, can and career - as more important. The rest preferred the old Cs.

The results also showed that most people living in Singapore would rather pursue intangible goals in life. Seven in 10 said that having a happy family is their most important goal. More than half of the respondents wished to travel around the world and to be healthy at a ripe old age.

Only a handful of respondents deemed material gains such as owning a luxury car (12 per cent) or a country club membership (4 per cent) as more important. When respondents were asked to name one other 'C' that they believed is important, choices which rated the highest include care, compassion, children and character.

The survey sought the views of 2,100 respondents via Facebook and iPads installed on 50 taxis island-wide.

Respondents were given a set of questions based on the old and new set of 5 Cs, and were asked to rate the level of importance of each 'C' to them.

Passengers who were lucky enough to catch one of these 50 cabs got a free ride on OCBC if they took the survey.

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