Planning for the future

The writer talks about the bad advice given by financial planners to consumers:
http://thestar.com.my/news/story.asp?file=/2011/4/1/columnists/nottoday/8372262&sec=nottoday

Hassle to own a car

It is a hassle to won a car in Singapore - due to the regulations on vehicle inspection, insurance and payment of road tax. I found a way to minimise the hassle. Read TKL website or click here.

Handbook on Flexi Life

You can download the handbook here. This policy is planned to be available in 2012.

Financial Savvy Test #11

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. How can I survive the bursting of the bubble? Keyword: bursting of bubble
2. What are the risk of my Shield claim being rejected? Keyword: Shield claim

Flexi Life policy may be available in 2012

Hi,
Thank you for your Handbook on Financial Planning. I am interested in the Flexi-Life policy mentioned in the handbook. Where can I get it? A Yahoo search have some companies selling product by this name too. Could you give some advice where I can buy this policy?

REPLY
You have to wait for a year for this policy to be introduced. The existing policies in the market (including those that have the same or similar names) have high upfront charge and are not suitable for consumers.

In the meantime, you can follow the suggestions in this FAQ.

A lesson in sacrifice

A touching story of this Japanese boy in Fukushima. Read SGEP or click here.

Hawker Stall Rentals

Hawker stalls went through my layers of lesses. This has resulted in high rental paid by the operators. It is a bad system that must be corrected. Read SGEP or click here.

Large employment of foreign workers

Here is the chain of events that lead to large employment of foreign workers in Singapore. Read  SGEP or click here.

Handbook on Financial Planning

Here is a draft of this handbook on Financial Planning. It will be provided free. You can download and read it. Give your comments here.

Financial Savvy Test #10

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. How do I make a financial plan on my own? Keyword: financial plan

2. How do I calculate the yield on my life insurance policy? Keyword: yield of life insurance

Japan Earthquake

This website allows you to move the slider and see the affected areas in Japan before and after the tsunami. It is really impressive.
http://www.nytimes.com/interactive/2011/03/13/world/asia/satellite-photos-japan-before-and-after-tsunami.html

Financial Savvy Test #9

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. How do I calculate the reduction in yield for a life insurance policy? Keyword: reduction in yield
2. Is it good to invest in the DBS preference share? Keyword: DBS preference

Rebuilding a home

Dear Mr Tan,
I am considering taking up a 40 year term loan of 500000K from a bank for rebuilding my house at interest of about 1.5% p.a. Do you have suggestions on where I can invest this 500000k so as to offset the interest charged by the bank while waiting for the completion of my home in 1 year? I will need something relatively safe and hopefully allows me to make partial withdrawals as needed to pay the contractor . I stay in a single storey terrace house. Do you think it is a good time to rebuild my home?

REPLY
Please see the FAQs
http://tankinlian.com/admin/file.aspx?id=451
You can contact one of the following persons:
http://tankinlian.com/admin/file.aspx?id=435

Advice on insurance needs

Dear Mr Tan
I am a home maker with 2 teenage sons. The younger son recently bought a NS insurance plan of 150k but my elder son has no insurance plans at all. My husband has a public office group insurance scheme of 200K. We have no other insurance policies. I seek your advice on whether it is good to buy a vivolife plan for my 2 sons.

REPLY
Please read these FAQs:
http://tankinlian.com/admin/file.aspx?id=398
http://tankinlian.com/admin/file.aspx?id=444
http://tankinlian.com/admin/file.aspx?id=435

Serving the people: Jaslyn Go

http://www.sgpolitics.net/?p=6475

Financial Savvy Test #8

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. How much of your monthly income should go for payment of your mortgage? Keyword: property price

2. Is a single premium endowment suitable for a risk averse investor? Keyword: single premium

How about 'Richer, Kinder, Slower'?

Stephanie Chok wrote this article about elderly people having to work long hours for a low pay.

HK investors reject settlement offer

Hong Kong Lehman investors reject settlement offer - Yahoo! News
http://news.yahoo.com/s/afp/20110328/bs_afp/financebankinghongkongminibondslehman_20110328095617

PM Lee - Think of the future

A worried citizen reply to PM Lee about his call to think of the future, in voting at the next general election.
Read here.

FISCA - Guide to new website

Here is the guide on how to use the new website. Some of the information can be found in the webpages that can be seen by the public. Members can login and view the webpages that are reserved for members only - especially the evaluation of financial products.

Exchange traded fund

I have updated the FAQ on the Exchange Traded Fund.

FISCA and financial literacy talks

Here is a message sent by a FISCA member to his friends. I like to ask you to send this message to our friends also, and encourage them to join FISCA and attend the educational talks.


Dear
On the 26 March, I just attend a talk by Mr. Tan Kin Lian (a qualified actuary and was the CEO of a large life & general insurance company) entitled "Insuring Your Financial Security (Consumer Guide to Insurance) "

Mr. Tan is a sincere and knowledgeable gentleman who is well versed in insurance products and also overall financial planning due to his previous work. I have benefited so much from his talk and reading his books. His workshops (and books) are developed such that it is easily understood by the lay-person, 

I have both his books
(1) Practical guide on financial planning
(2) Get Value from your life insurance

Please also consider joining http://www.fisca.sg/ as a member for $36 per annum. FISCA is a non-profit org. and its objective is to improve financial literacy among Singaporeans. (unlike many "free" seminar where one is expected to buy a stock trading software at the end of the talk) As a FISCA member, one get to attend useful talks at a discounted rate of $20 compared to non-members $30.

This is taken from FISCA website:
"FiSCA is committed to being an unbiased, up-to-date financial site with quality articles and advice to help improve financial literacy among Singapore consumers. Being a non-profit driven organization, FiSCA does not solicit sponsorship from commercial companies such as banks, nor do we get revenue through online advertising. We aim to be considered an objective and knowledgeable third party in financial-related issues, in order to provide quality, un-biased information on financial education to the general public. "

Salaries of government leaders

http://easyapps.sg/sgep/admin/file.aspx?id=81

Hong Kong banks buy back Lehman Minibonds

Investors are likely to get back up to 96.5% of the initial investments. This settlement is much more generous than the payout to investors by Singapore banks.

HK banks unveil final resolution on Lehman minibonds

Hong Kong's Association of Banks announced Sunday

the 16 Hong Kong distributing banks of the so-called "minibonds" issued by Lehman Brothers

agreed on a final resolution to buy back the products.

http://news.xinhuanet.com/english2010/china/2011-03/27/c_13800442.htm

 

HK banks agree on resolution for Lehman minibonds

Sixteen Hong Kong banks have agreed on a deal

to enable investors in structured products of the now bankrupt Lehman Brothers

recover a majority of their investments.

http://www.reuters.com/article/2011/03/27/hongkong-banks-minibonds-idUSL3E7ER03320110327

 

Chiam See Tong - serving the people

In spite of the obstacles, Chiam See Tong served the people for 27 yerars. See SGEP or click here.

Damage to Singapore's reputation

A foreign professional came to work in Singapore She worked hard and saved a large part of her salary to be used by her husband in building his business later on. In the meantime, she wanted to invest the savings.

An independent financial adviser sold her an investment-linked policy designed for high net worth individuals. The adviser deliberately removed certain information about the charges in this policy and lied to her about the charges. After saving for 18 months, the policy started to take away a  high monthly charge. She learned for the first time about this high charge, which would be taken away from her savings for the rest of the future years. If she terminate the saving plan now, she would lose more than 70% of the savings. It was quite heart-breaking.

She told me, "Mr. Tan, when I first came to Singapore, I was impressed with the Singapore system - honest government, a good standard of living. I never thought that I could be cheated by a respectable insurance company and by the financial adviser. After this experience, I have now changed my views about Singapore".

Tan Kin Lian

The honest way for marketing

It is better to use the educational approach to market a product. You can explain the pros and cons of the product and let the customer judge the product. If you are marketing a good product at a fair price, the customer is likely to buy the product. There is no need pay a high sales commission to market the product.

Many businesses have inferior products that can only be sold by high pressure sales techniques. The product is already inferior and higher priced than comparable products. The sales commission adds to the cost. This makes the product so bad that any sensible customer will avoid it. The product is then sold using misleading statements and outright lies.

In some countries, the authority will take action on deceptive practices. But in other countries, there is no action taken against deceptive practices. The marketing people become bolder and goes out to tell more blatant lies to market their product.

If you are in an environment of low protection of consumer rights, you have to avoid all types of marketing people who use high pressure techniques to sell their products. Just tell them, "I am not interested" and put down the phone (if it is a phone call) or walk away (if you meet someone at a mall). If they are honest, they can give you an educational material to allow you time to make your judgement.

Tan Kin Lian

Property prices and affordability

Here is a gauge on the amount that you should pay for a property and to find out if the current property price is too high or acceptable. See Ask Mr. Tan or click here.

A presentation on cholesterol

This is a good presentation about cholesterol for the layman

http://cholesterol.emedtv.com/high-cholesterol-video/introduction-to-high-cholesterol-video.html

FISCA New website

The new website for FISCA is now launched. Here are the articles available under the Information tab for the public. Members of FISCA can see additional information, reserved for members, after Login.  They include evaluation of financial products. The website will be updated weekly with new materials.

Stuck with a wine investment

This investor shares a story of how he was badly advised to invest in wine. If you know of any other investors in a similar situation, you can ask the investor to register at this website to get into contact with other investors and decide on collective action to recover their loss. Click here for the article.

Financial Savvy Test #7

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. How can you turn risk to your advantage? Keyword: advantage

2. How to avoid being cheated by an insurance agent? Keyword: cheat

Take risk and get a better yield

It is better to take risk and invest in an investment fund, rather than to take the guaranteed, low yield of a single premium endowment. See Ask Mr. Tan or click here.

Battle of the elite looming

Read this article by Seah Chiang Nee in SGEP.

Homeowner's insurance

This article explains the 10 things that are not covered by home insurance in the USA. The practice in other countries may be different. It is good for consumers to explore if they are covered in their policies in Singapore.

Financial Savvy Test #6

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. Should a family spend $100,000 to treat an elderly parent for cancer? Keyword: elderly

2. Should you sign a consent form before being treated by a specialist? Keyword: consent

Future for Singapore

An open letter for Singaporeans.

Financial Savvy Test #5

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. Does Vivolife provide a good yield? Keyword: Vivolife

2. How can a disabled person buy insurance? Keyword: disabled

Sugar coating

Dear Mr Tan
I had contributed this new posting in my Blog about the new PAP election candidates to the SGEP.
Sugar Coating of New PAP Candidates Part I - What questions would you like to ask them most?
Link :- http://de-leviathan.blogspot.com/2011/03/sugar-coating-of-new-pap-candidates.html
I hope readers will also send in their own questions for these new candidates?
Link to SGEP : http://www.easyapps.sg/SGEP/

Another land banking project

Hi Mr Tan,
Can I have your advise regarding the land banking company - X. Should I trust this company to invest land in US - Texas? When I visit their website, it shows nothing, just simple background information. The investor consultant, talking about the advantage, made it look attractive. I I have paid 10% deposit for the investment, now I worry about being cheated. Can you give me some advise about this company?

REPLY
Go to my website, www.tankinlian.com and type "land banking". You can see my views there. You can also click here
You should consider taking legal action against the consultant for giving incomplete or misleading information about the company.

A Tale of Two Seas

The Sea of Galilee and the Dead Sea receive their water from the Jordan River. But they are quite different in their hosting of marine life. A lesson in life. See TKL Website or click here.

Take risk to your advantage

Someone commented that the stock market is risky and that a single premium endowment can give an attractive yield for the risk averse investor.

Here are some facts to consider:

• The guaranteed yield for a single premium endowment is around 2% for 10 years or longer. The non-guaranteed yield may be higher, but is still less than 4% per annum.
• The yield on a low cost investment fund, such as the STI ETF, is likely to be around 5% over the long term. By accepting a higher risk, you can get a higher return.
• If the market is weak and your actual yield is lower than 5%, you have the choice (as a long term investor) to wait for a few years for the market to recover. Time is on your side. Wait for an appropriate time to achieve your long term yield.

When you buy a single premium endowment, the insurance company also invest your money in shares and other investments that are subject to the same risks that you have in a low cost investment fund. After deducting the expenses and profit margin, you get a lower yield on the single premium endowment. If the reduction in yield on the single premium endowment is less than 1% per annum, it is all right to invest in it. If the reduction is more than 1%, you should avoid it.

Tan Kin Lian

Climate of Fear

A citizen gives his perspective about the climate of fear in Singapore. See SGEP or click here.

SGX-ASX merger

A concerned investor asks some questions on the SGX-ASX merger. Read SGEP or click here.

The public sector

The public sector plays an important role in providing basic services at affordable cost to the general public and to set the benchmark for employment terms and practices. Read TKL Website or click here.

New tech not always the best medicine

Read this excellent commentary by Craig Turner, who is a surgeon.
http://www.todayonline.com/Print/Commentary/EDC110324-0000011/New-tech-not-always-the-best-medicine

Quotes:
The decision to opt for medical care that relies on the most costly technology is often based on blind faith that newer, elaborate and expensive must be better.

We seem to be promoting new technology even in the absence of data. Exciting cutting-edge treatments are marketed with the singular effect of peddling hope to patients when they are at their most vulnerable.

If a surgeon recommends an older, less expensive technology, many patients will shop for a surgeon willing to use the newest and costliest devices - even if the added benefits are unproven and the risks may be greater.

World Blogger's Day 2 May 2011

http://singaporeshortstories.blogspot.com/2011/03/participate-in-world-bloggers-day-on-2.html#more

Financial Savvy Test #4

Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. How can I invest in a low cost investment fund? Keyword: low cost

2. Should I buy term insurance up to 99 years? Keyword 99 years

Wine investors website

Some people have invested in wine products under representations that the investments will achieve a significant capital gain at the end of the investment period.  These investors have also been pressured to make additional investments to protect their earlier investments. Many investors are now holding several wine products and have not been realise the gains that were earlier projected.

 This website allows these investors to get together to discuss how their can protect their investments. If you have invested in wine products and wish to meet with other investors, you can register in this website (membership is free). After registration and confirmation of membership, you will be allowed to view the information pages that are reserved only for members. You can also register to attend events and meetings to meet other investors.

http://www.easyapps.sg/assn/Org/Default.aspx?id=7

Movie Club

I carried out a survey recently. There was strong interest in the formation of a Movie Club. There were also many people who go to the movies many times in a year.

I wish to invite you to register for the Movie Club. This is just to register your interest. If there are more than 500 people who are interested, I will arrange for a protem committee to be formed to register the club.

Movie club:
http://www.easyapps.sg/assn/Org/Default.aspx?id=6

Don't look left or right

Here is an article by Dr. Wong Wee Nam
http://theonlinecitizen.com/2011/03/don%e2%80%99t-look-left-or-right/

"The test of our progress is not whether we add more to the abundance of those who have enough. It is whether we provide enough for those who have little."
Franklin D Roosevelt (1882-1945)
United States, 32nd president

"A nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people." JFK

Elderly patient with cancer

Here is a story about the dilemma faced by a family in treating an elderly mother for cancer. See Ask Mr. Tan or click here.

Easy Ads Flyer

http://tankinlian.com/admin/file.aspx?id=446

Financial Savvy Test #3

Take a test of your financial knowledge by answering the questions below. You can find the answer from
www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. Should you make a claim and lose the no claim discount? Keyword: no claim discount

2. Should an elderly person buy Medishield or private Shield? Keyword: elderly

GST - troublesome and ridiculous

My friend runs an insurance agency. He has received incentive payments from insurance companies for the past years. Recently, he was told that the incentive payments attract GST. He has to collect GST from the insurance companies, and pay the GST to IRAS. Because of the unclarity of GST for such payments, he did not collect the GST in the past. To comply with the a recent circular, he has to collect the GST for the past years from the insurance companies. y. He was also levied a fine for failing to obey the GST law.

It will take him some time to collect the GST from the insurance companies - but he paid the GST first to IRAS.  After making the pyment, the insurance company can recover the GST back from IRAS. the government. Yes - it is an exercise of futility. It is troublesome and unnecessary work that add to the cost of doing business in Singapore. Many businesses have experienced high operating cost and can only survive by over-charging consumers. It has became a vicious circle.

My friend has approached a senior IRAS officer on this matter to explain that this is an exercise in futility. But the senior officer refuse to make an exception and insisted on following the book. This is quite common in Singapore.

Tan Kin Lian

Sharing and collaboration in the public service

Read SGEP or click here.

Scams that target college kids

http://www.accreditedonlinecolleges.com/blog/2011/12-common-scams-that-target-college-kids/

FISCA - Consumer Guide to Insurance

This talk on insurance is organised by FISCA for members and the public. It shows how to select the right insurance policies and make big savings on the insurance premiums. My new book "Get Value on your Life Insurance" will be available for sale to the participants at a special price of $6 (usual $12).

Register for the talk now. It is scheduled for 26 March from 2 to 5 pm at SMU. Register at www.fisca.sg/events under the title "Insuring your Financial Future" or "Consumer Guide to Insurance".

Financial Savvy Test #2

Take a test of your financial knowledge by answering the questions below. You can find the answer from
www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ

1. If you have to find a lawyer and wish to keep the cost low, what is a way to achieve this? Keyword: lawyer

2.  what is the approach towards “self insurance” as an alternative to paying premium for insurance protections? Keyword: self insurance

Risk management and insurance

Here are some tips on when to self-insure (i.e. retain) and when to insure a risk.
See Ask Mr. Tan or click here.

Sale of books by LKY

Dear Mr. Tan,
When we work for a company, whatever we create on company time is property of company.
LKY was speaking as MM and doing the interview with the reporters in his office / government premises. so the content should property of government and therefore public property.
Now, LKY is selling his book and making profit from it?
Is this ethical?
SV

REPLY
I recall that, in the past, the proceeds from the sale of books by LKY are donated to charity.

SMS donation for Japan Earthquake and Disaster Aid

Dear Mr. Tan,
I note your blog article regarding the difficulty of donating via DBS internet banking. I agree and encountered the same kind difficulty as well, and was not successful in donating through this channel.
If you wish, you may want to inform your readers that the easiest way to donate $50 to Singapore Red Cross for the Japan earthquake and tsunami aid is through SMS.
To donate $50 by SMS, send the text message "REDCROSS" to 75772. Each SMS carries a charge of 30 cents. This donation is not tax-deductible.
Sources:
http://www.redcross.org.sg/Donation-Channels-Japan-Tsunami-Earthquake.phtml
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_645264.html

Easy Ads

Do you wish to look for a part time job near your home? Or to provide tuition to a student near your home? Or to rent a room near your workplace? You can post your ads (for free) or search for an ad in Easy Ads, http://easyapps.sg/ads/

How to invest a lump sum

Mr Tan,
I seek your advise on how best to maximise returns on my SGD250,000 cash savings. My daughter also has SGD 50,000 placed in a SGD-Fixed Deposit with Maybank with an 0.8% return.

REPLY
Read this
http://tankinlian.com/admin/file.aspx?id=437

Be educated on financial matters

Hi Mr Tan,
Is it alright to just buy a term insurance for protection and purely STI ETF for my investment?

REPLY
Read this FAQ
http://tankinlian.com/admin/file.aspx?id=437

Emerging Asia can teach the West a lot about government

A special report on Singapore from the Economist magazine - giving the positive aspects.
http://easyapps.sg/sgep/admin/file.aspx?id=75

Financial Savvy Test #1

Are you financially savvy? Here is a simple test. You can find the answer from TKL Website -Information tab and type the keyword to search for the FAQ that contains the answer.

1. Does travel insurance cover nuclear risks? (keyword: nuclear)

Answer: __________

2. Who can you approach to review your existing insurance policy? (keyword: review) 

Answer: ________

Financial Plan - DIY

Read this document and prepare your personal financial plan. After that, pass the document to your friends and family members. Show them how to do their financial plans. It will help them to prepare for a better financial future.

Risk management and internet banking transfers

Banks should adopt a more sensible approach towards risk management of internet banking transfer and make it more convenient for their customers to make small payments without going through so much hassle. See TKL website- latest or click here.

Opposition Newbies

Dear Mr. Tan,
The Sunday Times introduced the opposition candidates as "newbies". I wonder if they will use the same term to describe the new PAP candidates? If not, there is a subtle attempt to disparage the opposition candidates - which is sad for a mainstream media - even one that is closely linked to the ruling party.
Sebastian

Travel insurance and nuclear risks

Should an insurer reject claims under its travel insurance policies for flight delays or cancellations due to the leakage of radiation from the Fukushima power plant? Read Ask Mr. Tan or click here.

For FISCA members only - F&N Bonds

Here is an analysis of the F&N bonds - for information of FISCA members only. FISCA members will be provided with the login to the new website (tentatively, to be launched on 2 April 2011). There is a section containing the evaluation of many financial products.

A clear and sensible speech

Dear Mr. Tan
Please post this link to a speech by Dr. Chee Soon Juan. He spoke with great clarity and sense. I find his speech to be inspiring.
http://www.yoursdp.org/index.php/news/singapore/4673--hard-truths-about-ministerial-wages-#JOSC_TOP
Wee

Hard truths about ministerial wages

http://www.yoursdp.org/index.php/news/singapore/4673--hard-truths-about-ministerial-wages-#JOSC_TOP

The Online Citizen GE2011

http://ge2011.theonlinecitizen.com/

Dilemma of the Poor

Dear Mr Tan
Hope you can publish my experience for comment.

This morning I was at a food centre and an old lady in a wheel-chair selling tissue paper told me, "I saw government people giving presents to foreigner workers. Here I am struggling to survive."

I said with the election coming, shouldn't you vote opposition to change things."Can I vote opposition?" she asked with a searching eye. I said assuringly that government agencies that helped her would still be around if the PAP lost.

"I would vote PAP. I will have to vote for them till my dying day. I only hope they do more for us disadvantaged folks," the old lady answered with a sigh of resignation.

Herein lies the dilemma of the poor. They depend on the government for handouts, but are afraid a change will be for the worst. Better the devil you know than the one you don't.


TCH

Ad-hoc payment through the Internet

Here is my proposal for a convenient method of allowing ad-hoc payment through the Internet. I hope that the Monetary Authority of Singapore will consider it.

A journey of frustration - DBS Internet Payment

Dear Customer Service Manager of DBS Bank

I enclose a feedback for your attention. May I request that you send this feedback to your CEO, Mr. Piyush Gupta?

Please acknowledgement my request promptly. 

Attachment:

http://tankinlian.com/admin/file.aspx?id=440

Dear webmaster of MAS

Please assist me to forward this feedback to your colleague in MAS that is in charge of regulating the banks.

I search the MAS website and could not find any person to send this feedback to.

Please acknowledge my request and tell me who you have forwarded it to.

Donate to the Japan Disaster Fund

Read here
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_645264.html

I urge Singaporeans to donate to the Japan disaster through the Singapore Red Cross. You can donate through ATM or write a cheque.

Cheque donations made payable to the 'Singapore Red Cross Society' and sent to the Singapore Red Cross at 15 Penang Lane, Singapore 238486. You should indicate at the back of the cheque the following: Japan Disaster 2011, the name of the donor, contact number and address.


From today till April 13, customers of OCBC, DBS and United Overseas Bank can also make a donation via ATM, mobile and Internet banking. Donors can get more details by logging on to the banks' websites.

A mature person

I spoke to a German lady who married a Singaporean and had lived in Singapore for 30 years. She explained the key feature of the German education system to me. During her time, and that was 3 decades ago, she was selected to be in the "gymnasium" stream. Students who had the ability to think logically and abstractly were selected for this stream. This was the stream that went into university and, during her time, comprised the top 5% of each cohort.

On completing the gymnasium school, she received a Certificate of Maturity. Her school principal told her that shw was certified to be mature, which meant that she was able to think and decide on her own,  and to learn new things on her own. She was "mature".

I was impressed with this approach. It is what education should be. I find that our education system produced a different type of person, who is not confident of taking decisions and responsibility. Our education system do not produce "mature" people.

A university professor, who has taught for many years, observed that many Singaporeans mature when they are 40 years old. Before that, they were not confident and had to be told what to do. I agree with her observation about the (lack of ) maturity of Singaporeans. Some never mature at all.

Tan Kin Lian

Buying motor insurance directly

My friend wish to share his pleasant experience
http://thinkhappiness.blogspot.com/2011/03/buying-motor-insurance.html

Think of the poorest person

Dear Mr. Tan

How I wish to say this at each opening of our parliamentary sessions.

Think of the poorest person you have ever seen and ask if your next act will be of any use to him.

- Mahatma Gandhi (1869 - 1948)

Talk at Tampines Regional Library

Title: Talk on Sudoku and Puzzles
Speaker: Tan Kin Lian
Date: 19 March 2011
Time: 3pm to 4.30 pm
Venue: Tampines Regional Library, Auditorium (Level 3)

You can register in advance by calling the Tampines Libary. The library also accepts walk-in participants on the day.

My puzzle books will be available on sale at 50% discount:
Complete set of Sudoku, Intelligence Quiz, Tangram, Shape Quiz: $14 (usual: $27.80)

SM Goh to S'poreans: Learn from Japan disaster

Dear Mr. Tan,
I posted an article in my Blog and in SGEP.
A response to "SM Goh to S'poreans: Learn from Japan disaster".
Will we stay a "kintaro-ame" nation, SM Goh?
[De Leviathan @ Sg]
C H

De Leviathan
http://de-leviathan.blogspot.com
SGEP
www.easyapps.sg/sgep/latest.aspx

General election poem

Here is a poem by Ong Ah Beeabout the conduct of a candidate at election time. See SGEP or click here.

Book: Get value for your life insurance

This book is now available for purchase by mail. First copy is for $12 (postage free). Additional copies are available at $9. (You can buy for your friends).
See: http://tankinlian.com/admin/file.aspx?id=375 (cover has been changed)

By cheque
1. Send cheque made out to Tan Kin Lian & Associates Pte Ltd
2. Mail cheque to 24 Sin Ming Lane #02-107
3. Write down you mailing address and number of books that you wish to order.

By Internet banking
1. Send an email to inbox@tankinlian.com with your mailing address and number of copies
2. Pay by internet banking to DBS Shenton Way account no: 003-9045980

Act now. You can save a lot of money by buying the good life insurance policies and avoiding the bad life insurance products.

Tan Kin Lian

Taking care of the low income families

Here is an example of the view of a PAP MP and an alternative view:
http://siewkumhong.blogspot.com/2011/03/response-to-questions-from-hri-kumar.html

The PAP's response is "Singaporeans are lazy and will take advantage of welfare". This does not reflect what I know of many Singaporeans - who are willing to work hard for a fair wage."  The PAP leaders should learn to respect and trust Singaporeans, so that the people can return the trust and respect to the leaders.

Complaining Singaporeans and leaders

Singaporeans complained. But they are following the bad examples set by the leaders. It is now a culture in Singapore. Read SGEP or click here.

Pointing fingers

I saw a letter in Today about the experience of a resident who lodged a complaint with the Police about a noisy motorist in the early morning. The policeman referred the resident to the Land Transport Authority (if this is a traffic offence) or to the National Environment Agency (if this is a noise pollution). This is finger pointing carried out to the extreme. It is an extremely bad culture that has developed in Singapore - following the examples of our ministers who also point fingers at each other. Why has Singapore reached this shameful state?

Tan Kin Lian

Robert Kuok's personal thoughts on wealth and capitalism

Robert Kuok is SE Asia's richest person. He shares his views on wealth and capitalism. Some of his thoughts have relevance to the current situation in Singapore (my interpretation, not his). See TKL website or click here.

Quotes:
When I hire staff I look for honest, hardworking, intelligent people. When I look candidates in the eye, they must appear very honest to me. I do not look for MBAs or exceptional students. You may hire a brilliant man, summa cum laude, first-class honours, but if his mind is not a fair one or if he has a warped attitude in life, does brilliance really matter?

I have learnt that the success of a company must depend on the unity of all its employees. We are all in the same boat rowing against the current and tide and every able person must pull the oars to move the boat forward. Also, we must relentlessly endeavour to maintain and practise the values of integrity and honesty, and eschew and reject greed and arrogance.

In capitalism, man needs elements of ambition and greed to drive him. But where does ambition end and greed take over? That's why I say that capitalism, if left to its own devices, will snowball along, roll down the hill and cause a lot of damage. So a sound capitalist system
requires very strongly led, enlightened, wise governments. That means politician-statesmen willing to sacrifice their lives for the sake of their people. I don't mean politicians who are there for fame, glory and to line their pockets.

Wealth should be used for two main purposes. One: for the generation of greater wealth; in other words, you continue to invest, creating prosperity and jobs in the country. Two: part of your wealth should be applied to the betterment of mankind, either by acts of pure philanthropy or by investment in research and development along the frontiers of science, space, health care and so forth.

Radiation up 400 times in Miyagi, new blast feared at Fukushima

Russia Today (RT) broadcasting from Washington, DC, is providing excellent coverge of the Japanese earthquake, tsunami and nuclear power meltdown.

Tsunami and Japan

The Japanese coined the word "tsunami" to describe the terror waves caused by an earthquake. They have experienced the tsunami many times during their long history.

In recent history, the word was borrowed to describe the terror waves that killed 300,000 people following the Sumatra earthquake in 2004. Six years later, the Japanese had the misfortune to experience the tsunami again. Quite sad!

Odd to Nature

Here's a beautiful power point about what nature gives to man, and what man does in return. See TKL Website or click here. 

Japanese tsunami and Singapore floods

http://www.temasekreview.com/2011/03/13/goh-chok-tong-criticizes-singaporeans-backlash-to-floods/

Cartoons by Wing Lee Cheong

http://easyapps.sg/sgep/admin/file.aspx?id=71

How to invest $100,000?

How to invest $100,000? Here is how you can be financially savvy to make the right decision. See Ask Mr. Tan or click here.

Greed and Singapore

http://mysingaporenews.blogspot.com/2011/03/vote-for-greed.html

CNA and Al Jazeera

http://yawningbread.wordpress.com/2011/03/13/after-egypt-now-with-tsunami-news-cna-again-a-disgrace/

Happiness index - from the UK

http://www.nytimes.com/2011/03/13/opinion/13cohen.html

The purpose of college education

To the Editor, NYT
The larger benefit of college is the development of critical thinking, which helps individuals identify and develop new work and business opportunities, manage personal finances, lead healthy lives, raise fulfilled children, participate in politics as informed citizens and obey the law.
This is why Americans need a college education.
Jack Herschlag
Upper Montclair, N.J.

Too much thinking, too little execution?

Sent by a citizen to the government's Cut Waste Panel

Suggestion
While it is silly to bring a chain saw into a forest and keep cutting down trees without knowing exactly which trees to cut; it is also to me an overkill when you have so many Ministers in the PMO doing coordinating work but not having enough officers at the lower levels to execute policies and understand the needs of the people. Example one --- you have coordination minister in the PMO on security but not enough police officers around to deter crimes. Case in point, slashing at downtown east leading to one death. Example two -- you have education coordinating minister but not enough teachers to reduce class size. Example three -- you have the brains setting traffic rules (like zig zags, double zig zags) but not enough traffic police and wardens catching the offenders.


Citizen

Excellent customer service

My friend sent this e-mail to me, showing how a magazine treats its customer well. Our Singapore companies should emulate such good examples.

Dear chee, 
On March 2, Zinio experienced a technical outage that resulted in limited access to our online shopping and reading services. We would like to make it up to you. 

The interruption to our web services resulted in a number of magazine deliveries to be delayed to readers from March 2-10. We noticed that you are subscribed to one of those titles. To see if your issues have been delivered yet, please click here. For questions on a specific title, please emailmymagazine@zinio.com. 

We know your subscriptions are important to you. We know that you've come to expect a high level of service from Zinio. We would like to make it up to you. We have extended your impacted magazine subscription(s) for one additional month. This has been done automatically in our records. There is no action that you need to take. 
Additionally, because you have been such a trusted and valued customer, we will be sending you a Zinio Gift Card under separate cover within the next week. 

Over the past ten years, our customers, like yourself, have come to enjoy and expect the high quality online experiences Zinio has delivered. We thank you for your patience, understanding and continued loyalty. 

Sincerely, 
Jeanniey Mullen 
Chief Marketing Officer, Zinio 
jmullen@zinio.com | @empg 

Easy Ads - design a good ad

If you wish to rent out your property or sell your car, and you need a detailed ad to be created (in PDF), you can get the assistance of an Agent. Go to http://easyapps.sg/ads/ and click on Agent. There is a sample ad for you to view.
click here for the sample ad.

Finding a lawyer

Many people are afraid of using a lawyer because of the high and uncertain legal fees. Here is a way to keep the fees within a manageable sum. Go to Ask Mr. Tan (search for "lawyer")  or click here.

Top salaries to be paid back

Dear Mr. Tan,


Read this article about Warren Buffett. “You need a person at the top who has all the downside that somebody has that loses their job working at an auto factory,” he said in an interview released by the panel in February. If a company fails, management should “give back five times the highest compensation they received in the previous five years.”

 Should our President and Ministers pay back their salaries when Singapore is in recessions? Should some Ministers get sacked when the Ministries they in-charge of fail to deliver acceptable services to citizens?


Dare to Ask

Lending the poor a helping hand

http://www.sgpolitics.net/?p=6286#more-6286

--
"A nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people." JFK


Wong Wee Nam

TODAYonline: 70 customers demanding S$249,000 from True Spa

SINGAPORE - Three months after they were deemed not to be creditors of Subtle Senses - and hence not entitled to any proceeds from its ongoing liquidation - 70 True Spa clients are demanding about S$249,000 from True Spa.
They issued three letters of statutory demand, under the name of two members, to True Spa on Thursday and Friday, said their lawyer Salem Ibrahim. The 70 customers want the spa to honour the judgment sums they had...
URL: http://www.todayonline.com/Singapore/EDC110312-0000089/70-customers-demanding-S$249,000-from-True-Spa

Wealth Warfare: US grabs Gaddafi assets, Libya to kiss cash goodbye?

Oil refinery ablaze after devastating Japan earthquake, tsunami

Japan earthquake: CCTV video of tsunami wave hitting airport

Heartlands Book Club to discuss “Wisdom on How to Live Life”

Date/Time: 18 March 2011 at 5.00pm

Venue: The Activity Room, Bukit Batok Public Library
Title/Author: “Wisdom on How to Live Life” by Tommy Wong

More information about the meeting can be found here.

Tommy Wong’s book is available at Tan Kin Lian’s office.

Easy for agents to cheat

Does your life insurance company make it easy for their agents to cheat their customers? Here is a way to find out. See Ask Mr. Tan or click here.

Are we on the same planet?

Read this letter posted in SGEP

Booking of cinema tickets

There is strong interest in a movie club to enjoy discounts on tickets from the cinemas. I will try to get someone interested to organize this movie club. I need the following information. When you book tickets online, what are the charges that you have to bear? Do you have to collect the tickets from the ticket office in advance, failing which the tickets are released to the public? Do you incur any penalty?

Movie club

If you go to the movies more than 3 times a year, please participate in this survey.

Review of your life insurance policy

If you wish to have an independent review of your life insurance policy, you can contact an expert listed here.
See Ask Mr. Tan or click here.

Tips on buying insurance

Here are some tips on how to find the right insurance policy and pay a fair premium (i.e. do not be ripped off). See Ask Mr. Tan or click here.

Easy Ads

This is an advertisement portal. It is free for use by advertisers. You can use the use this portal for the following:

• Advertise rooms for rental
• Advertise tuition services
• Advertise handy man and repair services
• Looking for jobs

Most people wish to search for a room, or tutor or handyman near their home or place  of work. This portal has a special feature to allow you to search for ads based on locality, price range, type of service and other useful features.

http://easyapps.sg/ads/

http://easyapps.sg/ads/Guide.aspx

Look at guide for instructions on how to use this portal.

Youtube

Investigation into Profitable Plots

http://www.todayonline.com/Singapore/EDC110310-0000229/CAD-has-sought-overseas-help-in-Profitable-Plots-investigation

Rent a room?

Do you want to rent a room to foreigners and supplement your monthly income? Post your ads in Easy Ads for free. You can include your postal code, so that the prospective tenant can search for a room near their place of work.

This portal is also good for tenants to search for an available room near their workplace. By conducting the owner directly, you save on the fee payable to the agent. Try it.

Tuition

Are you interested to provide tuition near your home? Post your particulars in Easy Ads for free. Some parents may search for you and contact you.

Cartoons by Wing Lee Cheong

Wing Lee Cheong draws cartoons about the political situation in Singapore.  You can see his cartoons in
http://www.sg-quitters.blogspot.com/   Hope you enjoy them.

Selecting the right insurance

You have to select the right insurance company and the right policy. You can also consider "self insurance" which may be more suitable under some situations. See Ask Mr. Tan or click here.

Top 10 jobs in the US

The pay of the top 10 jobs in the US is a faction of the pay of the top government jobs in Singapore.
See SGEP or click here.

High price of property

Message from Kevin Lim, Correspondent of Reuters:

Hi folks,
I’m basically looking to speak to people who are looking to buy property (either HDB or private) but who find prices too high or are worried about a sharp correction in the market.
Need people who are willing to be named.


Kevin Lim
Correspondent
Reuters News
kevin.lim@thomsonreuters.com

Elderly person - not insured

Hi Mr Tan,
My mother is a housewife and she is 61 year old. She has no contribution to her cpf thus she does not have any medishield or medisave. Two years ago I try to get a medical insurance from NTUC for her but was rejected due to her high blood pressure and irregular heart rhythm. I having problems to get a suitable medical insurance for her as it either too expensive or they would normally reject for her case.

MY REPLY
You can try to apply for basic Medishield with CPF and see if she can be accepted. If not, it is all right. I know of many elderly people who are not insured. If they are hospitalised, go to a subsidised ward (B2 or Cclass) as the bill is kept affordable.
Read this FAQ
http://tankinlian.com/admin/file.aspx?id=298

SGEP editorial - digital warfare

The SGEP published a new Editorial captioned "The Digital Warfare in Electoral Battle", in respond to TODAY's commentary "“Deep fissures behind Opposition bravado” [7 Mar 2011- Local Media] by Mr. Eugene Tan, an SMU Assistant Professor of Law. Link : http://www.easyapps.sg/SGEP/
There was also an article in the Kent Ridge Common, "Enough of political opinions from Eugene Tan?". [8 Mar 2011 - Blogs].
We note TODAY Forum also carried a letter "Three-way fights good for voters" [9 Mar 2011 - Letters] by Aloysius Foo today.
See www.easyapps.sg/sgep

New books at the book stores

Get Value From Your Life Insurance will be out at the following places on 14 Mar:
- 7-Eleven convenience stores
- Popular bookstores
- Harris Bookstores
- Prologue
- Kinokuniya
- MPH
- Page One
- Major newsstands

Guide To Financial Planning (Chinese) will be ready after 14 Mar at the following places:
- Popular bookstores
- Harris bookstores
- Prologue
- Page One
- Kinokuniya Ngee Ann City outlet
- MPH bookstores
- Major newsstands

Low cost investment funds

Read these tips on investing in low cost investment funds.
See Ask Mr. Tan or click here.

Spams and fraud in e-mail

E-mail is free - and because it is free, it has been abused in the following ways:

• Spam emails on advertising products
• Fraud, e.g. MLM, ponzi scheme or taking money and disappear

The spams and fraud are getting rampant and more sophisticated. There are three ways to deal with this problem:

• Declare these activities to be illegal and take action against the spam or frauds. Although it is difficult to enforce, at least it will deter some people.
• Require the sender of each e-mail to donate (say) 2 cents to a charity. The paid mail will be marked and recipients can opt to receive only paid mail, i.e. reject free mail. This requires the email community to adopt a standard for paid mail.
• Continue the current situation and ignore the spam.

Which approach do your prefer? Give your vote in this survey.

SAF insurance pays out the full sum insured on death

Hello Sir,
I have been searching internet for an answer, but no vail. Therefore, I would like to see your advice. I am considering SAF Group Term insurance. Is there is ceiling/cap payout per year?
I heard group insurance has a maximum payout per year on group level (since this is group insurance), so if the pool of $$$ is left (example) 300K for the remaining of this year, and if I were to claim 1million, the maximum payout is only 300K (since the rest of the money in the pool have been compensated to other beneficiaries). Is the above context correct?


REPLY
SAF allows you to buy insurance for up to $600,000. See http://tankinlian.com/admin/file.aspx?id=116
You are covered for the amount that you are insured for, and it is not subject to any "pooling" or "cap".
This statement about the cap could have been told by a dishonest insurance agent who has a vested interested to get the consumer to buy a life insurance policy - instead of the SAF group insurance.

Profile of a Ponzi or MLM scheme?

I receive this email. It fits into the profile of a ponzi or a MLM scheme. I delete all of them. 

Email
Hi, my name is Brad Flowers I have a franchise that is on the cutting edge of digital marketing services.
I am looking for brokers who would like to earn $2000 on the first 7 sales they make and $3000 on each additional sale.
For more information go to www.extremefranchise.com/brad.flowers
E-mail extrememarketing7@gmail.com
Phone 970-213-1741
P.S. If you are not broker contact me if you have an interest.

Scams are getting more personal

I receive scams regularly, They are getting to be more personal. I believe that this fit into the profile of a scam. This is a nuisance as it is now quite difficult to distinguish between the genuine inquiry and the scams.

Email
I am Mr. Vincent Cheng Chairman of the Hong Kong and Shanghai Banking Corporation Limited. I have a sensitive, confidential brief from Hong Kong and I am asking for your partnership in re- profiling funds.
What I require from you is your honest co-operation and all confirmable documents to back up this fund shall be made available to you prior to your acceptance and as soon as I receive your return mail I will let you know what is required of you.

Vincent Cheng.
Email.:chengvincent81@yahoo.com.hk

Is MM Lee facing pressure within the PAP?

Read SGEP-Latest or click here

Give firm enlistment date

Ministry of Defence urged to give firm enlistment date in advance to Singaporeans who are required to serve National Service.
Read SGEP-Latest or click here.


Edited letter published in St Times Online Forum.

No claim discount for motor insurance

Should you make a claim for a minor accident and lose the no-claim discount on your motor car? See Ask Mr. Tan or click here.

Remove uncertain component of means testing in MediShield use

Printed in Straits Times Forum Page, 8 March 2011

MANY elderly people opt to be insured under basic MediShield to cover their medical expenses at an affordable premium ('Stumped by low MediShield payout' by Ms Goh Poh Kheng; yesterday). They accept treatment in a subsidised ward and must pay the deductible and co-insurance of 20 per cent from their Medisave accounts.

They should not be subject to the further uncertainty caused by the pro-ration of the bill due to means testing.

The Ministry of Health should allow patients to pay a slightly higher premium to be excluded from this pro-ration formula. This will allow for greater transparency and give them more certainty on the coverage under basic MediShield.

Many people are now advised to transfer to a private Shield plan to obtain higher coverage. However, the premium for such a plan can be much costlier and the co-payments, in the event of a claim, can also be higher.

This will be outside the financial means of many elderly patients, who need to conserve their Medisave for their old-age needs. Private Shield plans should be only for those who are well-off.

I hope the ministry will consider making basic MediShield the default plan for the large number of seniors who cannot afford to use their Medisave for higher insurance premiums and co-payments.

Tan Kin Lian

TKL Blog posting to Facebook

I need help from an expert in Facebook. In my blog, I add a "Like" feature. A user who click on the the "Like" button will have an automatic posting into his or her Facebook with the information shown on here. At present, the posting shows the message from my blog introduction, i.e. "I retired from NTUC Income .....". How do I change this posting to show the actual content of the blog, rather than the introduction? Send your answer to kinlian@gmail.com or post here in this comment..

Letters to SGEP

SGEP receives a few letters from the public. You can view some of these letters here  (Letters to SGEP).

SGEP also invites readers to send your letters and views to sgeportal@gmail.com. We hope that more citizens will use this new channel to give your views and suggestions on how to improve the political and social environment in Singapore.

.