Tuesday, February 26, 2013
Sunday, February 24, 2013
Holiday camp - Puzzles
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Workfare and its impact on business
Hi Mr Tan,
I would like to share with the impact on workfare in my company. Being a public listed company, the company was expecting 30% year on year growth from their subsidiaries, and KPI and variable pay structure was set based on these expectations.
Of course, the staff complained that the global and local economies are having difficulties and the growth targets were not in line with what is happening outside.
With workfare, it was hoped that the targets can be lowered and staff have a better chance to achieve their variable pay components by hitting a lower target.
However the company while accepted workfare as a reduction of overall cost of doing business, did not translate this back to a lowering of performance targets for the staff. Targets remained as per 30% year on year. So, with or without workfare, it meant little to the individuals working in the company.
Credit card debts
Someone asked:
Are many Singaporeans living off credit cards?
REPLY
I do not have the exact figures, but I have been approached by many people who are not able to manage their credit card debts.
It is easy to get into debt from:
a) medical bills
b) unemployment
c) gambling
d) over-spending on luxury goods or entertainment
It is also easy to charge to the card. Then the interest rolls up. And the problem becomes more difficult each month.
Some people borrow from a new card to repay off the old card. The problem gets bigger. Besides the high rate of interest, they have to pay late payment charges ($50 each time) and legal fees (when the lawyer writes a letter of demand for the bank).
For people who get into trouble, they can consult Credit Counselling Singapore, http://www.ccs.org.sg/
This is set up by the Government. Their people are specially trained and well connected with the banks. They can help you.
Saturday, February 23, 2013
Be sensible in covering your personal risks
Some insurance agents show statistics of the number of people dying through critical illness to scare you into spending a lot of money on critical illness insurance.
Consider the following points:
1. Everybody will eventually die from a illness in their old age (if they do not die earlier by accident).
2. Even after spending more than $100,000 on treatment, the chance of success is slim for an elderly person. Insurance is not intended to cover this type of costly futile treatment.
3. Insurance is to protect families when the dependents are young. After 25 years, the children have grown up and the breadwinner has accumulated sufficient savings.
4. If they do not spend $500 a month on a bad insurance product, they would have accumulated $500,000 at the end of 35 years by investing in the right product. They do not need insurance to pay their medical bills - they can use their savings.
5. Insurance agents are taught to tell lies and misleading statements to take away too much from consumers. The critical illness scare is just one more gimmick.
6. If you are afraid of critical illness when you are young, pay $120 a year to get $100,000 of critical illness cover. The chance of it happening is less than the chance of an accident. (The real cost is much less, but the insurance company wants to make a profit).
7. Here is how you can buy a good insurance package, covering death, accident an critical illness to cover a more adequate amount
http://tankinlian.com/admin/file.aspx?id=752&IID=759
Vegetarian stalls
Hi Sir,
I’m a vegetarian. Most of the time, I find it difficult to find vegetarian stalls whenever I need a meal. Be it at coffee shops, food courts, etc..
Sometimes when I pass by a place, and I know of a vegetarian stall nearby, I will walk over.
To my disappointment, there are many vegetarian stalls being closed down at various places and I got to find non-vegetarian food stalls with vegetarian food.
It is more disappointing when you see a big food court with so many stalls and can’t find a single vegetarian choice.
When there is no choice, I got to go elsewhere and search which is inconvenient especially with non-vegetarian accompanies (since they already have choices and not nice for them to keep following me for the search) or when I’m quite tired and just want a meal or it’s raining heavily etc..
Usually if there is no vegetarian food stall in a particular food place, the highly possible chance to have a vegetarian meal is from the mixed vegetable rice (饭菜) stall which has meat, vegetables with rice. But commonly, the choices are very little. If they have no potatoes, bean curd, non leafy type etc., the person probably can/will only buy 2 green vegetables with rice. If the person somewhat can only eat at the same place everyday due to time wise, and meet such situation, it will be quite depressing due to very little choice of food and bringing own food may not be convenient.
I hope maybe something can be done to help improve such situations especially for those vegetarians who need to travel different places for work often. When they have a short lunch break, and the nearest vegetarian place is very far, it will be a problem.
I have some humble suggestions:
1. Not all food places have vegetarian food stalls. Those which have closed down may find it difficult to maintain the rental fees especially vegetarians are the minority. Maybe the vegetarian stall owners could have lower rate rental fees or subsidiaries to help them. Maintaining current vegetarian stalls in Singapore may not be enough to cater to most vegetarians, such idea may also attract people to do such business if they already have in mind but afraid of low number of customers. If budget wise, maybe only those owners who can’t hit a certain income, will be able to get such subsidiaries.
2. There are some places where there are quite a number of vegetarian stalls beside each other.Maybe some allocation can be done to allow only a certain number of such stalls to operate within a certain zone.Thus, hopefully, vegetarian stalls can be spread evenly in Singapore in the future which is more accessible.
3. Most of the stalls like the beef noodles, fried kway tiao, western food stalls are commonly seen in the food places and hardly have any vegetarian choice. If they could come out with some vegetarian food, example vegetarian noodles with mushroom, fried beehoon with vegetarian popiah, vegetarian spaghetti respectively, will be good. If each stall could have at least one vegetarian food, even without a pure vegetarian stall there, at least the vegetarians who visit there would have some choices. Such stall owners may be entitled a small encouraging subsidiaries or so.
By “promoting” vegetarian eating may not only for the vegetarians. There are some people who will eat vegetarian meals during the 1st and 15th day of the lunar month. It will also be convenient for them. Even omnivores could be having meal at those stalls. Hopefully the government could think of ideas and help promoting of vegetarian food stalls opening. After all, it is about solving the basic necessity of some human needs with ease. (“Go Green Campaign”).
Advantages of renting a home
1. Singaporeans have the mindset that they must own their home. I wish to give some views on the need to change this mindset.
2. Owning a home make sense when property prices are low. When the prices are too high (and currently the prices are too high), it is not the obvious choice. We should be open minded and consider other options.
3. There are advantages in renting a place to live in. When you rent, you have the freedom to move at the end of the lease period. You can move to a place that is closer to your work place or to your parents or the children's school.
4. If the rental rates are high, you bear the cost one year at a time. You can also opt to rent for 2 years or longer, if you wish to fix the rates.
5. When you buy a property at a high price, you have to pay a high mortgage for the next 20 or 30 years. You are stuck with this high cost.
6. It is possible for the property prices to go into a slump. Just see what has happened in Japan, USA and Europe. This will come to Singapore. When that happens, the property prices will stay low for a long period. Japan has the slump for more than 20 years and has not recovered yet.
7. If you are renting a place, you will be able to buy a property at a lower price, maybe up to 50% cheaper, in a slump. If you have bought before, you will not be able to take advantage of this opportunity.
8. In Singapore, you are allowed to use your CPF savings to pay for your home, but not for rental. This force most people to buy a property. If you do not join the herd, you have the option to invest your CPF savings in blue chip shares or an index fund, and earn a long term yield of 6% (my guess). This yield is better than the yield on properties bought at an inflated price.
9. If you rent a property, you can pay up to 25% of your annual income for the rent. This may be painful, but it is for one year at a time. When there is an over supply, you can expect the rental to drop by up to 50%. At that time, you will pay a much lower rental or you can buy a property at a lower price.
10. For young couples who are newly married, you can stay with your parents, if they have a room for you to use. Alternatively, you can rent a room from another family. If you do not have any children or just one baby, a room is sufficient.
11. It is all right to buy a new flat from the HDB, i.e. a BTO flat, as the price is much lower than the market price. Be patient and wait for the BTO flat. In the meantime, consider renting as an option.
2. Owning a home make sense when property prices are low. When the prices are too high (and currently the prices are too high), it is not the obvious choice. We should be open minded and consider other options.
3. There are advantages in renting a place to live in. When you rent, you have the freedom to move at the end of the lease period. You can move to a place that is closer to your work place or to your parents or the children's school.
4. If the rental rates are high, you bear the cost one year at a time. You can also opt to rent for 2 years or longer, if you wish to fix the rates.
5. When you buy a property at a high price, you have to pay a high mortgage for the next 20 or 30 years. You are stuck with this high cost.
6. It is possible for the property prices to go into a slump. Just see what has happened in Japan, USA and Europe. This will come to Singapore. When that happens, the property prices will stay low for a long period. Japan has the slump for more than 20 years and has not recovered yet.
7. If you are renting a place, you will be able to buy a property at a lower price, maybe up to 50% cheaper, in a slump. If you have bought before, you will not be able to take advantage of this opportunity.
8. In Singapore, you are allowed to use your CPF savings to pay for your home, but not for rental. This force most people to buy a property. If you do not join the herd, you have the option to invest your CPF savings in blue chip shares or an index fund, and earn a long term yield of 6% (my guess). This yield is better than the yield on properties bought at an inflated price.
9. If you rent a property, you can pay up to 25% of your annual income for the rent. This may be painful, but it is for one year at a time. When there is an over supply, you can expect the rental to drop by up to 50%. At that time, you will pay a much lower rental or you can buy a property at a lower price.
10. For young couples who are newly married, you can stay with your parents, if they have a room for you to use. Alternatively, you can rent a room from another family. If you do not have any children or just one baby, a room is sufficient.
11. It is all right to buy a new flat from the HDB, i.e. a BTO flat, as the price is much lower than the market price. Be patient and wait for the BTO flat. In the meantime, consider renting as an option.
How to increase the birth rate
1. I will now give my views on how to increase the birth rate in Singapore.
2. We must give an option to women to be a full time mother and raise children. The mother will receive, from the state, a monthly allowance of $500 for each child, up to a maximum of three children, until the child reaches 12 years old.
3. If this allowance is given, some women may opt to be a full time home maker, instead of a career women. They can opt to get married at a younger age, and raise their children. When the children go to school, the mother can enter the workforce and do the types of jobs that are suitable for them, which do not require a high level of education.
4. There are many suitable jobs in the economy for women, with experience in raising children. They can be assistants to teachers, or work in taking care of children and the elderly, or can go into the food business. These jobs can also pay well.
5. The choice is still available for women who wish to enter the business world and compete with men. These women are likely to marry late and to be not keen to raise children, as it is difficult to do both.
6. My suggestion is to give women, who are more inclined to the family, to choose this option, and to receive a monthly allowance that make it possible for the family to meet the living expenses.
2. We must give an option to women to be a full time mother and raise children. The mother will receive, from the state, a monthly allowance of $500 for each child, up to a maximum of three children, until the child reaches 12 years old.
3. If this allowance is given, some women may opt to be a full time home maker, instead of a career women. They can opt to get married at a younger age, and raise their children. When the children go to school, the mother can enter the workforce and do the types of jobs that are suitable for them, which do not require a high level of education.
4. There are many suitable jobs in the economy for women, with experience in raising children. They can be assistants to teachers, or work in taking care of children and the elderly, or can go into the food business. These jobs can also pay well.
5. The choice is still available for women who wish to enter the business world and compete with men. These women are likely to marry late and to be not keen to raise children, as it is difficult to do both.
6. My suggestion is to give women, who are more inclined to the family, to choose this option, and to receive a monthly allowance that make it possible for the family to meet the living expenses.
Critical illness policy
Someone said:
Should the MAS bans / regulates more strictly such or similar "critical year" policies.
For this case :-
"In a written judgment, the Learned Judge dismissed her claim. The judge found that the document, a policy benefit illustration, was not part of the contract. He noted that a clause in the policy booklet states that the policy and policy application constitute the agreement between Madam Zhu and AIA. This statement is mirrored in a declaration in the application form."...
Although not "a clause in the policy booklet" and therefore not a "term or condition" in contractual terms, the "policy benefit illustration" is a common instrument used by agents (who are supposed to be professionally trained) to induce parties (as consumers & layman) into purchasing such policies ... and therefore easily "misrepresented".
IMO, the plaintiff in this case was set-backed because she had represented herself in Court...she could probably have a strong case. I purchased such a policy in the 80s which was subsequently handled as a "support package" collectively ... but the same "sales techniques" seemed to have been followed through after that ...and now another case in Court when many are supposed to be already wary of such bad sales techniques.
http://news.asiaone.com/News/Latest%2BNews/Singapore/Story/A1Story20130219-403050.html
Should the MAS bans / regulates more strictly such or similar "critical year" policies.
For this case :-
"In a written judgment, the Learned Judge dismissed her claim. The judge found that the document, a policy benefit illustration, was not part of the contract. He noted that a clause in the policy booklet states that the policy and policy application constitute the agreement between Madam Zhu and AIA. This statement is mirrored in a declaration in the application form."...
Although not "a clause in the policy booklet" and therefore not a "term or condition" in contractual terms, the "policy benefit illustration" is a common instrument used by agents (who are supposed to be professionally trained) to induce parties (as consumers & layman) into purchasing such policies ... and therefore easily "misrepresented".
IMO, the plaintiff in this case was set-backed because she had represented herself in Court...she could probably have a strong case. I purchased such a policy in the 80s which was subsequently handled as a "support package" collectively ... but the same "sales techniques" seemed to have been followed through after that ...and now another case in Court when many are supposed to be already wary of such bad sales techniques.
http://news.asiaone.com/News/Latest%2BNews/Singapore/Story/A1Story20130219-403050.html
Fair wage for a job
What is the fair wages for a job?
Some people think that it can be left to the "free market", i.e. supply and demand. This is the approach adopted in Singapore. Look at the mess that it has created - so many locals out of job or not earning enough to meet the cost of living.
Some countries have strong trade unions to negotiate the wages for various categories of workers, e..g Australia and Europe. They also use the tool of a minimum wage. While not a perfect system, it seemed to produce a better outcome than the "free market approach".
There is an alternative approach - somewhere in the middle. It uses the free market approach to determine the wages, but removes the weak bargaining power of the workers. It also ensures quality, reliability and profitability of the workers and allows them to earn more, and allow their employer to be profitable. What is this method?
I like to have some discussion about this "alternative method", which is a better way.
Some people think that it can be left to the "free market", i.e. supply and demand. This is the approach adopted in Singapore. Look at the mess that it has created - so many locals out of job or not earning enough to meet the cost of living.
Some countries have strong trade unions to negotiate the wages for various categories of workers, e..g Australia and Europe. They also use the tool of a minimum wage. While not a perfect system, it seemed to produce a better outcome than the "free market approach".
There is an alternative approach - somewhere in the middle. It uses the free market approach to determine the wages, but removes the weak bargaining power of the workers. It also ensures quality, reliability and profitability of the workers and allows them to earn more, and allow their employer to be profitable. What is this method?
I like to have some discussion about this "alternative method", which is a better way.
High inflation rate
Mr Tan,
As inflation rate for last year is about 5%. What do you think of any investment that is over that 5%?Is the world changing?
REPLY
Inflation was 5% last year. The STI ETF earned 19%, so it is much higher than inflation.
Over the past 10 years, the average inflation was around 3%. The STI ETF earned about 8%, so it is higher than inflation.
Over the long term, the STI ETF is still be best investment. Attend the FISCA talk and learn about why this is the case.www.fisca.sg/events.
As inflation rate for last year is about 5%. What do you think of any investment that is over that 5%?Is the world changing?
REPLY
Inflation was 5% last year. The STI ETF earned 19%, so it is much higher than inflation.
Over the past 10 years, the average inflation was around 3%. The STI ETF earned about 8%, so it is higher than inflation.
Over the long term, the STI ETF is still be best investment. Attend the FISCA talk and learn about why this is the case.www.fisca.sg/events.
Low risk of critical illness
When an insurance agent tell you that you need critical illness insurance to cover the high cost of treating cancer, you should consider the following:
a) The chance of getting serious cancer that requires expensive treatment is extremely low before the age of 60
b) The chance of being killed by an accident, e.g traffic accident, is higher
c) You need to pay only $70 a year for accident insurance to cover $100,000
d) If you want to buy critical illness insurance to cover $100,000, you should pay not more than $70 a year.
See if the insurance agent is keen to offer you the critical illness insurance at this premium. If they want you to pay many times more, they are trying to get you to pay a lot more, so they can earn a hefty commission.
a) The chance of getting serious cancer that requires expensive treatment is extremely low before the age of 60
b) The chance of being killed by an accident, e.g traffic accident, is higher
c) You need to pay only $70 a year for accident insurance to cover $100,000
d) If you want to buy critical illness insurance to cover $100,000, you should pay not more than $70 a year.
See if the insurance agent is keen to offer you the critical illness insurance at this premium. If they want you to pay many times more, they are trying to get you to pay a lot more, so they can earn a hefty commission.
Wednesday, February 20, 2013
Where are the missing billions?
1. Someone asked me to give my views the articles written by Professor Christopher Balding regarding the finances of the Singapore Government. A summary of his article is shown here:
http://exchersonesusaurea.blogspot.sg/2012/05/professor-christopher-balding-peking.html
2. Here are the key points:
a) During a period of 20 years from 1991 to 2010, the Singapore government borrowed $250 billion and had a budget surplus of $262 billion, making a total of $512 billion.
b) If this money is invested to earn the average yield, it should accumulate to $1,000 billion, or $1 trillion.
c) The total assets of Temasek Holdings and GIC is estimated to be $500 billion, a part of which were accumulated prior to 1990. According to Professor Balding, there must be more than $500 billion in assets that are missing?
d) There are $300 billion in foreign reserves managed by the Monetary Authority of Singapore. Professor Balding argued that this is accounted by the current account surplus, and is not related to the $500 billion that is missing.
3. Can you identify some possible gaps in the reasoning given by Professor Balding? I do not agree with his reasoning, so there is the possibility that he is right, or maybe wrong.
Apps for your iPhone/ iPad
AMAZING NUMBER
Amaze your friends with this simple trick. Most people are amazed at its simplicity.
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Download this app now and give it a try. And give a rating as well.Thank for your support.
MOBY PAL
The Moby app is now available for download. It has useful features for users of iPhone, including pre-fix SMS, security, and find your car. More details here:
http://tankinlian.com/admin/file.aspx?id=748&IID=754
Download it and give a try. And give a rating as well. Thanks for your support.
Myth about welfare states
http://singaporemind.blogspot.com/2013/02/busting-myth-about-welfare-states.html
Tuesday, February 19, 2013
Ideas for a public housing policy
1. I like to give my views about what are the elements of a good public housing policy. The Singapore Government is in a unique position to implement this pubic policy, as it owns 80% of the vacant land in the country.
2. The Government can set a policy to ensure that housing is available to the citizens at an affordable price, which I will define as 5 years of the average household income. Based on an average income of $60,000, the flat should cost $300,000. This can be for a size of 1,000 sf.
3. Smaller flats can be made available to poor families at a lower price, say $180,000 and $240,000.
4. Housing at these prices will be build by a government agency, i.e. the HDB, based on these prices. These prices can be adjusted yearly according to changes in the average income.
5. Those who earn over the average income can buy a home from the private market. They are also given the option to buy the public housing i.e. there is no income ceiling.
6. If the Government is willing to provide the public housing at the benchmark price to all families who opt for it, the price in the private market will not run off too far from the standard flat. Similarly, the resale market for the public housing will also not move too far off.
7. Instead of allowing the resale market to set the price for the new public housing, it should be the other way round, i.e. the benchmark price for new flats provided by the housing agency should influence the resale market.
8. Each family is allowed to buy a public housing at the benchmark price only once. If they wish to upgrade, they have to go to the resale market. As indicated, earlier, this market will not deviate much from the pricing of the new flats.
9. The housing agency should also build flats for rental to locals, who are not yet ready to commit to the purchase of a flat, or to foreigners working here. The rental rate should bear a reasonable ratio to the purchase price.
10. People who be encouraged to relocate closer to their place of work. If they sell their home and buy a new home, they should only be required to pay stamp duty on the difference in the value of the homes. The transaction cost, i.e. agency and legal fees, should also be reduced.
11. Housing should not be allowed as a form of speculation or making profit. It should be a place to stay and to moderate the cost over the long term.
Petition
Please send email to your friends and ask them to sign this Petition for a Referendum on the Population White Paper
www.tklcloud.com/petition
www.tklcloud.com/petition
Sunday, February 17, 2013
Suggestions to improve the bus service
13 February 2013
Editor, Voices
Today Paper
Today Paper
To solve the over-crowding on the MRT trains, it is important
to make it convenient for commuters to take buses.
I suggest the following steps be taken by the Land Transport
I suggest the following steps be taken by the Land Transport
Authority together with the bus operators:
1. Educate the public about how to find the convenient bus
1. Educate the public about how to find the convenient bus
services, using the websites and mobile apps
2. Allow commuters to know the arrival time of the buses, using
the mobile apps. This information is available for SBS buses, but
is not provided for SMRT buses.
3. Display the sequential stop number in the bus, so that
3. Display the sequential stop number in the bus, so that
commuters will know when to alight from the bus, without having
to look outside for landmarks.
I have taken the bus regularly and know the importance of
I have taken the bus regularly and know the importance of
providing useful information to encourage commuters to try this
option.
My suggestions are can be implemented easily, at low cost and quite
My suggestions are can be implemented easily, at low cost and quite
quickly. I urge the Land Transport Authority to be proactive in improving our
bus service.
Tan Kin Lian
My view about the need for foreign workers
1. I wish to give my views about the current Government policy of giving permits for foreigners to work in Singapore. I do not use the word "foreign talent"; instead I will refer to them by the more common terms of foreigners, foreign workers or expatriates.
2. I disagree with the strategy of employing foreigners to reduce our business cost and improve competitiveness, or even to do the work that Singaporeans do not want to do.
3. I believe that there will be Singaporeans who are willing to do most kinds of work, if the pay is adequate and the working conditions are safe and satisfactory. This applies even to the more risky jobs in construction sites and ship repairs. In the developed countries, they are able to find locals who are willing to do these jobs, so why can't we?
4. When foreign workers are taken in at lower salaries to reduce business cost, there is a risk that they will displace our local workers. In this past, this was confined to the sectors considered to be risky, such as construction and ship repair, but it has now expanded to many other sectors, including cleaning, nursing, service jobs and even the PMETjobs.
5. The foreigners are able to accept lower salaries because their goal is to earn money to send to their families back home, where the cost of living is only a fraction of Singapore. Our locals cannot compete with the foreigners because they have to earn enough to meet the high cost of living in Singapore.
6. Our males are further handicapped by the need to go for reservist duties, which disrupt the work schedules and make them less preferred by many employers.
7. This situation in Singapore is now quite untenable. Having opened the flood gates, the Government does not know how to deal with the situation. Is there any other option? Can we rely more on local workers and less on foreign workers?
8. An economy that entirely on local workers will adjust the wages for various occupations to the appropriate level based on supply and demand. If the economy is competitive and vibrant, there will be sufficient jobs for all the locals, especially if they are well educated and highly trained.
9. Even the less educated can get employed in the jobs that suit their skills, such as cleaning and manual work. If these jobs pay adequately, they will be Singaporeans willing to do the work. We have no shortage of locals doing cleaning, nursing and other manual work in past years.
10. We can have continue to bring in foreigners with the skills that are needed in our economy and are in short supply, including the expatriates and entrepreneurs. We should be prepared to give them permanent residency after a few years, and allow them to bring them families here.
11. If they fit into our environment, our aim is to make them into our citizens and integrate them into our society. This is similar to how we treated Malaysians in the past. We can now extend this treatment to other nationals, who have an interest to make Singapore into their home.
12. The foreign workers should be placed on the same salary levels as the locals for the same type of work and performance, so that their cost to the employer is the same. It is all right for the Government to impose a levy to be paid by the foreign workers, if their family do not live in Singapore.
13. There is a fear that our businesses will not be competitive, if the wages are increased. This fear is largely unjustified. Wages are only one component of the total cost of doing business. The other costs, such as rents, taxes and bureaucratic costs and transaction costs can be reduced through government policy and national collaboration.
14. If Singaporeans are assured that they can get jobs that are suitable to their skills, and they can earn adequate wages to meet the cost of living, to afford a home and to save for the future, they will be willing to welcome immigrants to contribute to a better life in Singapore.
15. We need to manage immigrants in a more holistic way. We have to access their skills and their desire to make a home in Singapore - instead of their willingness to work at lower pay to make our businesses more competitive. If they do not serve National Service, they should be expected to pay an additional tax.
16. It is possible for us to re-think about the structure of our work force, and if work towards a more sustainable model.
Saturday, February 16, 2013
Stop charging of unwanted SMS messages
13 February 2013
Editor, Forum Page
Straits Times
The Infocomm Development Authority is probing into the activities
of a company that attracts customers to participate in an online contest
and, without the knowledge of the customer, sends SMS messages to the
customers at $3 per message.
It is possible that the customer might have inadvertently clicked on a
link that gives consent to the sending of the SMS messages. Usually,
It is possible that the customer might have inadvertently clicked on a
link that gives consent to the sending of the SMS messages. Usually,
the customers are distracted by the details of the contest that they have
let down their guard.
I suggest that the IDA officials should seek the assistance of the Police in
this investigation. This case could be classified as "cheating", which is a
criminal offence, and has to be prosecuted by the Police. Cheating is the
use of deception to take money from the victim.
The offender might not be aware that they are committing a crime, and
The offender might not be aware that they are committing a crime, and
can be given the opportunity to compensate the unsuspecting customers, and
also to cease this dubious operation.
If they persist, the Police can charge them in court and let the judge decide if
If they persist, the Police can charge them in court and let the judge decide if
this activity amounts to cheating.
I urge the IDA and the Police to take proactive action on this matter to stop
this type of dubious activity. Similar schemes had been around for a long time and
has given a bad name to Singapore.
I also urge them to have a talk with the mobile operators, so that these operators
I also urge them to have a talk with the mobile operators, so that these operators
are made aware that they might be abetting a crime.
Tan Kin Lian
Tan Kin Lian
Find a Life Partner
Here are three tips on how to find a life partner, written for people who faced difficulty before.
http://tankinlian.com/admin/file.aspx?id=762&IID=769
http://tankinlian.com/admin/file.aspx?id=762&IID=769
Find a Life Partner
Here are three tips on how to find a life partner, written for people who faced difficulty before.
http://tankinlian.com/admin/file.aspx?id=762&IID=769
TKL speech at Hong Lim Park, 16 February
If you like the Government to hold a Referendum, sign here, www.tklcloud.com/petition
Speech by Tan Kin Lian at Hong Lim Park, 16 February 2013
1. When the population white paper was first announced with the headline of 6.9 million people, many people were shocked. Were you shocked? Well, it shocked me. Why?
2. With 5.3 million people, Singapore is already too crowded. Each day, we travel in packed trains and buses, and on congested roads. There are long queues in hospitals, schools and shopping malls or just to get a flat. If the quality of life is bad with 5.3 million people, it will get worse when with 6.9 million!
3. The Government heard the uproar and came in with damage control! They said, 6.9 million is just a “worst case scenario”. Later, they amend the motion in Parliament to say that it is just a roadmap, not a target, not a projection, but a roadmap for planning purpose.
4. But people still worry: if the infrastructure is built for 6.9 million people, will it be left idle? Is there a risk that the government will be tempted to use the slack?
5. While we object to the 6.9 million, it is our duty as citizens to understand the key challenges facing our country. I like to deal with two important ones raised in the white paper.
6. The white paper said that a bigger economy is needed to provide good jobs for Singaporeans. 65% want to have PMET jobs, i.e. professional, managerial, executive and technical jobs. Therefore, we have to import foreign workers to do the work that Singaporeans do not want to do, i.e. the manual, service and manufacturing jobs.
7. Are we sure that they will only take jobs that Singaporeans don’t want? We have seen many PMETs lost their jobs to foreigners and have to become taxi drivers. A bigger population is not the solution.
7. Are we sure that they will only take jobs that Singaporeans don’t want? We have seen many PMETs lost their jobs to foreigners and have to become taxi drivers. A bigger population is not the solution.
8. Our problem is that the economy structure is now in somewhat of a mess. Too many qualified people are working in sales and speculation of properties, financial products, shares, money lending and even COE papers that pay well, but do not create real value. Because they pay well, few people want to be engineers, teachers, policemen and nurses.
9. In the offices, many people do work that are unproductive and unnecessary, handling payment by cheques, accounting for GST, submitting returns to government agencies. There are more efficient ways to carrying out these activities, but we have become complacent.
10. We have to restructure the economy, to distribute our human resources more evenly to the various sectors of the economy, to reduce the cost of doing business, to reduce the wastage.
11. We have to give adequate wages, dignity and fair employment terms to service and manual workers, so that Singaporeans will be willing to accept these jobs. In the advanced countries, many of these jobs are held by their local people. Why can’t we? We need to have our locals working in all segments of our society, rather than in a narrow sector.
12. The white paper said that an aging population will create a financial problem for the young. By 2030, only 2.1 young people will be available to support an elderly person, compared to 6.5 now. Is this true?
13. As a whole, the elderly generation is actually quite well off, as they had benefited from the asset appreciation. Most of them do not really need to depend on their children. Instead, it is the other way round. They have to support their children to make the down payment for their HDB flat!
14. There are some elderly people who are poor, but this is caused by the unequal distribution of income and wealth. The burden of taking care of them should be borne by the Government, and not on their children. We need a new mind-set towards welfare of the elderly.
15. Our key challenge is to raise the birth rate in Singapore. This problem was recognized 30 years ago, and several measures were tried, baby bonus 1, 2, and 3, but they did not work. It is time for us to look for new approaches.
16. To solve this problem, we have to look at the root cause. Young people find it difficult to get a job that pays a salary that is adequate to pay for their home, to raise a family and to save for the future needs. They also do not feel secure of keeping their job. In the face of the uncertainty, many opt to avoid the financial and other burden of raising children.
17. We also have to work long hours and hard to be sure to keep their jobs. Many do not have the time to socialize. They are also not sure if they have time to spend with their family, after they get married.
18. I have some ideas on how to achieve these goals, but due to lack of time, I shall not discuss them here.
19. My key message is – tackle the root of the problem. This will encourage young people to start a family and to have children. But, we have to make it feasible and enjoyable for them. Only then, can we achieve a sustainable population for a dynamic Singapore.
Tan Kin Lian
Protests at Hong Lim Park, 16 February 2013
Bloomberg
http://www.bloomberg.com/news/2013-02-16/singaporeans-protest-plan-to-increase-population-by-immigration.html
Straits Times
http://www.straitstimes.com/breaking-news/singapore/story/photo-gallery-large-crowd-speakers-corner-protest-against-population-w
Aljazeera
http://www.aljazeera.com/video/asia-pacific/2013/02/2013216151756603968.html
Yawning Bread
http://yawningbread.wordpress.com/2013/02/17/five-thousand-gather-to-protest-population-white-paper/
Feed me to the fishes
http://feedmetothefish.blogspot.sg/2013/02/bahagia-happiness-joy.html
Tremeritus
http://www.tremeritus.com/2013/02/17/photo-essay-of-hong-lim-protest-more-pics-sent-in-by-readers/
Diary of a Singapore Mind
http://singaporemind.blogspot.sg/2013/02/protest-at-hong-lim-park-16-feb-2013.html
http://www.bloomberg.com/news/2013-02-16/singaporeans-protest-plan-to-increase-population-by-immigration.html
Straits Times
http://www.straitstimes.com/breaking-news/singapore/story/photo-gallery-large-crowd-speakers-corner-protest-against-population-w
Aljazeera
http://www.aljazeera.com/video/asia-pacific/2013/02/2013216151756603968.html
Yawning Bread
http://yawningbread.wordpress.com/2013/02/17/five-thousand-gather-to-protest-population-white-paper/
Feed me to the fishes
http://feedmetothefish.blogspot.sg/2013/02/bahagia-happiness-joy.html
Tremeritus
http://www.tremeritus.com/2013/02/17/photo-essay-of-hong-lim-protest-more-pics-sent-in-by-readers/
Diary of a Singapore Mind
http://singaporemind.blogspot.sg/2013/02/protest-at-hong-lim-park-16-feb-2013.html
Friday, February 15, 2013
My suggestion to improve the birth rate
Someone asked for my views on how to improve the birth rate of Singapore.
I have given my views before. They are:
a) Make rental flats available to newly married couples, while they wait for the new HDB flats
b) Provide a monthly allowance of $500 a month for each child (up to 3 in a family) until age 12
c) Provide subsidized education and health care for children and increase the child care facilities
d) Reduce full time national service to 1 year.
Some newly married have rich parents who can help them to buy a private condo; others can stay with their parents who have a large home. But, there must be a large number of people who need a place to stay, before they can get married. By making a rental flat available to them, they can get married first and wait 3 to 5 years for their new HDB flats to be available.
The rental flat can be a basic 2 room flat, but they should be available in all parts of Singapore, so that the newly married can choose a location close to their parent or place of work. The rental can be subsidized for 3 years, but will revert to market rate after this period. It is intended to be a temporary arrangement.
The monthly allowance is intended to replace the complicated marriage and parenthood package, which has failed to achieve the results over the past 25 over years.
The cost of the monthly allowance of 600 a month $72,000 per child over 12 years. Based on 40,000 births in a year, the cost is $3 billion. The tax revenue of the government each year is $50 billion plus another $20 billion (my estimate) for COE, land sale and investment income. The $3 billion represents less than 5% of the total revenue.
If the monthly allowance is available, young couples may be encouraged to marry earlier and have children immediately .The mother can stay at home to look after the child and get to work when they go to school.
The need for adequate care care, school and health care faciltiies is obvious and does not need elaboration.
I like to see full time National Service reduce to 1 year. This is more than adequate to raise to train a solder in basic military skills. Most countries have reduced it to 1 year or less.
For officers, commandos and training of other skills, the period can be extended voluntarily and they should be paid an adequate salary for the extended period. If there are insufficient volunteers, these positions can be held by full time soldiers.
The GRC system has damaged Singapore
The Group Representation Constituency (GRC) system came into effect on 1 June 1988. Prior to that date, each constituency elects its Member of Parliament based on the "first past the post" system. The candidate who has the most votes is elected, even if the share of votes is less than 50%, where there are more than two candidates.
The GRC started with 3 candidates but was later expanded to 6 candidates in some GRCs. The actual number depends on each GRC and is decided by the Elections Commission prior to each election. The boundary for each voting district can be changed at that time, to reflect changes in population.
At least a member of the slates of candidates in the GRC must be certified to be from a minority community, i.e. non-Chinese.
The purpose of the GRC system, according to the PAP Government, was to ensure minority representation in Parliament. The opposition parties saw it as a device to give advantage to the ruling party, as the GRC is usually "hemmed" by an experienced and well known minister, who is expected to be re-elected. New candidates can be placed in the GRC and elected on the "tailcoats" of the minister.
Since the implementation of the GRC system, the connection between the voters and the elected MP had weakened, and support for the once popular PAP had eroded gradually. Although the GRC was once thought to be the stronghold of the PAP, the first GRC (Aljunied) was lost to the opposition Workers Party in the 2011 election.
In the next general election in 2016, observers expect several GRCs to fall to the opposition parties - unless the PAP is able to reverse the trend of its unpopularity.
I consider the GRC system to be bad for Singapore, and is responsible for the damage that has been caused to our society over the past 25 years.
I do not accept the rationale that it is needed to ensure minority representation, as Singaporeans had always accepted our multi-racial composition. This is proven when non-Chinese have been elected in single member constituencies in the past.
A better way to ensure minority representation is nominate a few nominated MPs from the leadership of the respected non-government organisations represented these communities.
It is better for Singapore to revert to the traditional single member constituencies that is practiced in UK, Canada and Australia and was also practiced in Singapore prior to 1988.
It is also better for the sitting MPs to remain in the same constituency for several terms, as the familiarity with the residents is an asset in nation building and trust building.
The PAP should get away from the image of acting unfairly and abusing its powers. It is better to give a free choice to the voters to elect the MP to represent them.
By being more gentlemanly, the PAP will, with time, be able to rebuild the trust that has been eroded after the introduction of the GRC system.
The GRC started with 3 candidates but was later expanded to 6 candidates in some GRCs. The actual number depends on each GRC and is decided by the Elections Commission prior to each election. The boundary for each voting district can be changed at that time, to reflect changes in population.
At least a member of the slates of candidates in the GRC must be certified to be from a minority community, i.e. non-Chinese.
The purpose of the GRC system, according to the PAP Government, was to ensure minority representation in Parliament. The opposition parties saw it as a device to give advantage to the ruling party, as the GRC is usually "hemmed" by an experienced and well known minister, who is expected to be re-elected. New candidates can be placed in the GRC and elected on the "tailcoats" of the minister.
Since the implementation of the GRC system, the connection between the voters and the elected MP had weakened, and support for the once popular PAP had eroded gradually. Although the GRC was once thought to be the stronghold of the PAP, the first GRC (Aljunied) was lost to the opposition Workers Party in the 2011 election.
In the next general election in 2016, observers expect several GRCs to fall to the opposition parties - unless the PAP is able to reverse the trend of its unpopularity.
I consider the GRC system to be bad for Singapore, and is responsible for the damage that has been caused to our society over the past 25 years.
I do not accept the rationale that it is needed to ensure minority representation, as Singaporeans had always accepted our multi-racial composition. This is proven when non-Chinese have been elected in single member constituencies in the past.
A better way to ensure minority representation is nominate a few nominated MPs from the leadership of the respected non-government organisations represented these communities.
It is better for Singapore to revert to the traditional single member constituencies that is practiced in UK, Canada and Australia and was also practiced in Singapore prior to 1988.
It is also better for the sitting MPs to remain in the same constituency for several terms, as the familiarity with the residents is an asset in nation building and trust building.
The PAP should get away from the image of acting unfairly and abusing its powers. It is better to give a free choice to the voters to elect the MP to represent them.
By being more gentlemanly, the PAP will, with time, be able to rebuild the trust that has been eroded after the introduction of the GRC system.
Financial planning for your child
Here are some tips for parents to carry out financial planning for their children and to prepare them to face the challenges in a competitive world. http://tankinlian.com/admin/file.aspx?id=760&IID=767
How a white paper is handled in Sweden
My Swedish friend told me that a white paper in Sweden is handled in the following way:
1. They government sets the terms of reference and get a committee of experts (technocrats) to carry out research and prepare a "yellow paper"
2. The yellow paper is released for public comments. Individuals, businesses and organizations can submit their views. it could attract 50 to 100 views.
3. The committee summarizes the views and present them to the government.
4. The government decides on the law to be passed, after studying the comments, and submit them to Parliament to debate and pass approve the proposed laws.
5. This process is well received, as the public has the chance to give their views, which are considered by the Government and Parliament.
1. They government sets the terms of reference and get a committee of experts (technocrats) to carry out research and prepare a "yellow paper"
2. The yellow paper is released for public comments. Individuals, businesses and organizations can submit their views. it could attract 50 to 100 views.
3. The committee summarizes the views and present them to the government.
4. The government decides on the law to be passed, after studying the comments, and submit them to Parliament to debate and pass approve the proposed laws.
5. This process is well received, as the public has the chance to give their views, which are considered by the Government and Parliament.
Wednesday, February 13, 2013
Successful Work-Life Balance
More and more women, in trying to better manage their roles as career women and mothers, are seeking work opportunities that allow them a balance between earning a suitable income and having more time with their children. Enters 'Successful Work-Life Balance', a unique two-in-one book that examines the two main options women would consider in their journey towards better work-life balance: flexi-work and starting a business. The book aims to offer readers insights to the "flexi-work way" and "mumpreneur's way" as they contemplate their options and define what work for them.
The book focuses on practical tips and inspiring, real-life stories of mothers who have successfully found their work-life balance through either the flexi- work or the mumpreneur paths.
To purchase, click here
NOTE:
I am helping the author to promote the book. My daughter Su Ling is featured in the book as a mumpreneur.
Financial planning for children
Here are some tips for parents to carry out financial planning for their children and to prepare them to face the challenges in a competitive world.
http://tankinlian.com/admin/file.aspx?id=760&IID=767
Mathematics challenge
Try this mathematic challenge on how to improve the deployment of buses.
http://tankinlian.com/External.aspx?IID=766 and win three book prizes.
Why employers shun local graduates
A Singaporean friend of mine,
who was then a director in a European multinational corporation located here,
told me a few years ago that he specifically directed his human resource department
not to hire any graduate from our local universities unless absolutely necessary.
His view was that local graduates lacked
the necessary mindset and attitude to do a job well.
In contrast,
graduates of foreign universities, Singaporean or otherwise,
tended to be more independent, streetwise, resilient and self-driven.
According to him, the only positive thing about local graduates
was that they were book-smart.
Alex Yeo
Banners for Hong Lim Event on 16 Feb 2013
Here are banners that you can use at the Hong Lim event on 16 February. You can open it with the File app in your iPad and select any banner to be displayed. There are several banners.
Bring your iPad and hold it up to show the banner.
https://docs.google.com/file/d/0B7Ezdnx6L-_oYkpHTDB0R1JPeFk/edit?usp=sharing
Re-nationalization of public transport
The Government is taking steps to re-nationalize the public transport, although so far, they do now wish to acknowledge this intent.
Here are the indicators:
1. They set the fares, based on the distance-based fares. Although the fares are approved by the Public Transport Council, the Land Transport Authority probably provide the guidance.
2. They have taken over the route planning of the bus services for some time
3. They provide funding for additional buses and new services, i.e. the $1.1 billion budget allocated in 2011
4. They have started to tender out the Jurong- CBD express service based on the cost of operations, while the Land Transport Authority takes the revenue and the business operations.
In due course, I expect more of the bus services to be transferred to the "operate only" model. I read that this was the model adopted in London, which make more sense. It is time for us to move away from the convoluted private-public model adopted in Singapore (which can be described as an oxymoron).
It will take some time to unravel the complex financial arrangement involving the MRT and bus services. For a start, it would be nice for the Government to declare the big game plan and acknowledge that we are moving towards re-nationalization, rather than to leave the public in the dark.
Here are the indicators:
1. They set the fares, based on the distance-based fares. Although the fares are approved by the Public Transport Council, the Land Transport Authority probably provide the guidance.
2. They have taken over the route planning of the bus services for some time
3. They provide funding for additional buses and new services, i.e. the $1.1 billion budget allocated in 2011
4. They have started to tender out the Jurong- CBD express service based on the cost of operations, while the Land Transport Authority takes the revenue and the business operations.
In due course, I expect more of the bus services to be transferred to the "operate only" model. I read that this was the model adopted in London, which make more sense. It is time for us to move away from the convoluted private-public model adopted in Singapore (which can be described as an oxymoron).
It will take some time to unravel the complex financial arrangement involving the MRT and bus services. For a start, it would be nice for the Government to declare the big game plan and acknowledge that we are moving towards re-nationalization, rather than to leave the public in the dark.
Tuesday, February 12, 2013
Unethical profiteering
Is there unethical profiteering in the life insurance industry?
http://dollarsandsense.sg/the-insurance-industry-a-business-of-unethical-profiteering/
http://dollarsandsense.sg/the-insurance-industry-a-business-of-unethical-profiteering/
$3 for unwanted SMS
The IDA is probing into the operation of a firm that charges $3 per SMS to subscribers who had inadvertently signed up for the service, after responding to a contest to win an iPad. A subscriber was billed $669 for this service.
Instead of the IDA making the probe, the IDA should work with the Police. Cheating is a crime that can be prosecuted under the Penal Code. It is the duty of the Police to be involved.
Cheating is defined in the Penal Code as using deceptive ways to get money from the public. The Government only needs to bring a charge in court. Let the SMS company prove to the court that they are not "cheating" the public.
I hope that the IDA and the Police will take the appropriate action to get rid of this type of operations.
Instead of the IDA making the probe, the IDA should work with the Police. Cheating is a crime that can be prosecuted under the Penal Code. It is the duty of the Police to be involved.
Cheating is defined in the Penal Code as using deceptive ways to get money from the public. The Government only needs to bring a charge in court. Let the SMS company prove to the court that they are not "cheating" the public.
I hope that the IDA and the Police will take the appropriate action to get rid of this type of operations.
Risk of buying property at inflated prices
While there has been a large spurt in home prices over the past two years, due to low interest rate and higher demand, buyers should be prepared for the risk that the bubble will burst in the near future.
Already, the government has introduced measures to restrict the amount of loan and to impose additional stamp duties on these transactions.
However, buyers still see the headline news that prices continue to increase. These news are deceiving. Developers are giving discounts to home buyers, but the list prices are still being reported.
New projects are being bought at prices much higher than similar projects sold recently in nearby locations. Someone quoted a inference of 30%.
After paying a hefty price, you have to suffer a large discount when you sell your asset. It will take many years for the price to appreciate enough to cover this over-payment. You will live all your life paying for n over-priced property.
If you lose your job or cannot pay your higher mortgage due to increase in interest rate, be prepared to sell your property at a discount of up to 50 percent. This will happen in a slump.
Do not assume the home prices will continue to increase, and that this is a good investment.
Sunday, February 10, 2013
Alzheimer has its advantages
I received this joke in an e-mail.
| |
| Sure enough the knock comes, the door opens and there is Roger, her 85 year old groom, ready for action. They unite as one. All goes well, Roger takes leave of his bride, and she prepares to go to sleep. After a few minutes, Jenny hears another knock on her bedroom door, and it's Roger, Again he is ready for more 'action'. Somewhat surprised, Jenny consents for more coupling. When the newlyweds are done, Roger kisses his bride, bids her a fond good night and leaves. She is set to go to sleep again, but, aha, you guessed it - Roger is back again, rapping on the door and is as fresh as a 25-year-old, ready for more 'action'. And, once more they enjoy each other. But as Roger gets set to leave again, his young bride says to him, 'I am thoroughly impressed that at your age you can perform so well and so often. I have been with guys less than a third of your age who were only good once. You are truly a great lover, Roger.' Roger, somewhat embarrassed, turns to Jenny and says: 'You mean I was here already?' The moral of the story: Don't be afraid of getting old, Alzheimer's has its advantages. |
Is nursing a low skilled job?
The Government described nursing as a low skilled job in the Population White Paper and had to issue an apology to the nursing profession.
Even so, the manner of their apology was done in a clumsy way, with a statement from the Chief Nursing Officer. Why was she giving the apology on behalf of the Government, when she was probably not responsible for the bad statement?
http://www.tremeritus.com/2013/02/09/govt-apologises-for-saying-nursing-is-a-low-skilled-job-in-white-paper/
This is not just a careless mistake, as the problem is more deep rooted. In the mindset of the elitist leaders, there are people who are talents, and others who are non-talents; there are people who are low skilled and others who are high skilled.
When a leader has this kind of mindset, they are bound to offend other people who they deem as non-talents, low-skilled or "lesser mortals".
What kind of leaders do we have, that show bad example for others to follow?
A better approach is to show respect for all types of useful work, including nurses, cleaners, construction workers, bus drivers, taxi drivers, plumbers and others.
We also need to pay people adequately for their work, enough for them to afford the cost of housing and the cost of living, and to raise a family. And they should also enjoy decent terms of employment, without having to work long hours in the fear of losing their jobs.
We need a government comprising of leaders with the decency to treat other people with respect, dignity and fairness.
Even so, the manner of their apology was done in a clumsy way, with a statement from the Chief Nursing Officer. Why was she giving the apology on behalf of the Government, when she was probably not responsible for the bad statement?
http://www.tremeritus.com/2013/02/09/govt-apologises-for-saying-nursing-is-a-low-skilled-job-in-white-paper/
This is not just a careless mistake, as the problem is more deep rooted. In the mindset of the elitist leaders, there are people who are talents, and others who are non-talents; there are people who are low skilled and others who are high skilled.
When a leader has this kind of mindset, they are bound to offend other people who they deem as non-talents, low-skilled or "lesser mortals".
What kind of leaders do we have, that show bad example for others to follow?
A better approach is to show respect for all types of useful work, including nurses, cleaners, construction workers, bus drivers, taxi drivers, plumbers and others.
We also need to pay people adequately for their work, enough for them to afford the cost of housing and the cost of living, and to raise a family. And they should also enjoy decent terms of employment, without having to work long hours in the fear of losing their jobs.
We need a government comprising of leaders with the decency to treat other people with respect, dignity and fairness.
Population White Paper - Andy Wong's views
This is an excellent analysis of the Population White Paper. I have given the following comment to thee paper:
Quote:
The Government is blind to their errors made over two decades. By allowing property prices to escalate to ridiculously high levels, they have increased the cost of living and cost of housing to unbearable levels. This is the primary cause of the low fertility rates – most citizens cannot afford to raise children.
The policies that they had adopted for two decades to address the low fertility rate, and the many tweaks to these policies, failed miserably, and yet the persist on the same path of destruction.
We need to think out of the box. I will be giving some unconventional views in http://www.facebook.com/kinlian.
The Government made the wrong assumption in worrying about the old age support ratio. They worry that there are not enough young people to support the old people.
If they “open their eyes”, they will realize that it is the other way round. The parents have to support their children to make the down payments for the ridiculously high property price. The problem is – there are not enough rich parents due to the big income gap.
The problems caused by the bad PAP policies for two decades will take a long time to unravel. It may be best for the PAP to be replaced in 2016.
Unquote:
http://www.tremeritus.com/2013/02/09/population-white-paper-deconstructed/#comment-863558
Quote:
The Government is blind to their errors made over two decades. By allowing property prices to escalate to ridiculously high levels, they have increased the cost of living and cost of housing to unbearable levels. This is the primary cause of the low fertility rates – most citizens cannot afford to raise children.
The policies that they had adopted for two decades to address the low fertility rate, and the many tweaks to these policies, failed miserably, and yet the persist on the same path of destruction.
We need to think out of the box. I will be giving some unconventional views in http://www.facebook.com/kinlian.
The Government made the wrong assumption in worrying about the old age support ratio. They worry that there are not enough young people to support the old people.
If they “open their eyes”, they will realize that it is the other way round. The parents have to support their children to make the down payments for the ridiculously high property price. The problem is – there are not enough rich parents due to the big income gap.
The problems caused by the bad PAP policies for two decades will take a long time to unravel. It may be best for the PAP to be replaced in 2016.
Unquote:
http://www.tremeritus.com/2013/02/09/population-white-paper-deconstructed/#comment-863558
Saturday, February 9, 2013
Educating the public on financial literacy
Hi Mr Tan,
I believe that economic and social problems are to be blamed, not on corporate, government, or the rich, but on people's lack of financial awareness. This problem is not limited to Singapore alone but throughout the entire world. The ignorance allows the well-informed minority to become rich.
Even governments seem to accept and create policies with the attitude that the ignorance cannot be changed, and schools have to start teaching financial education.
I have a vision of a financially matured society, where people become more aware of the financial system and get out of the economic model we are now trapped in. For that vision, I feel compelled to contribute to that heightening of financial consciousness, in the far or near future.
I recognize that to go out of our way to improve other people's life takes a lot of determination. Therefore, I want to show my appreciation for what you have done for the society in Singapore. Sometimes, we do not get recognized for what we contribute. I hope to see you continue to push on and do what you do best: educating the public about the concept of money and how to manage them.
REPLY
My own personal view is that there is little that people like me can do to educate the public.
This is rightly the responsibility of the Government. So far, they have done a bad job, and that is why things continue to be very bad. They are pursuing the wrong strategy and neglecting their responsibility. Nevertheless, I will continue to do what I can.
This is rightly the responsibility of the Government. So far, they have done a bad job, and that is why things continue to be very bad. They are pursuing the wrong strategy and neglecting their responsibility. Nevertheless, I will continue to do what I can.
Friday, February 8, 2013
Event at Hong Lim Park, 16 February 4.30 pm
I will be speaking at the event in Hong Lim Park. Look forward to see many of you attend to give your support.
Event: Say No to 6.9 million in 2030
Date: 16 February at 4.30 pm
Venue; Hong Lim Park
Organizer: Mr. Gilbert Goh
More details
http://therealsingapore.com/content/event-protest-hong-lim-16-feb-%E2%80%93-say-no-69m-population
Event: Say No to 6.9 million in 2030
Date: 16 February at 4.30 pm
Venue; Hong Lim Park
Organizer: Mr. Gilbert Goh
More details
http://therealsingapore.com/content/event-protest-hong-lim-16-feb-%E2%80%93-say-no-69m-population
Learn the skill of problem solving
Do you want your children or grandchildren to learn the skill of thinking and problem solving? Bring them to attend any of these free talks to be held on Saturday morning. Suitable for children above 10 years old, adults and seniors.
https://tklcloud.com/book/Public/Slots.aspx?key=c6177951a2b5472ab516d5be9fad49d5
Take care of your financial future
I have often been asked by consumers, "Mr. Tan, I find it so confusing that insurance agents keep introducing new products to me, explaining the risks that I face. How do I know which is a good product to buy?"
I am too polite to tell them what I honestly think. Here is my frank answer.
1. You will be cheated of 40% of your hard earned savings. If your savings should accumulate to $500,000 by the time you retire, the insurance policy will take away $200,000 from you.
2. If you buy the right insurance, you should give away $50,000 and keep $450,000 for your retirement.
3. You deserve to be cheated, because you are too lazy to attend a talk (www.fisca.sg/events) or too stingy to pay $30 for a talk or to pay $12 to buy a book (www.tankinlian.com/ishop).
4. You only need to spend 1% of your annual income on insurance. The best form of savings and investment are taught in the FISCA talk or in my book. Learn now, how to take care of your own financial future. Spend the time and a few dollars.
5. The life insurance companies will keep introducing new products to catch the naive consumers. Their insurance agents are trained to keep selling new products to you, so they can earn the commission and the insurer can make more profits from the new products and the old products that are being replaced.
I am too polite to tell them what I honestly think. Here is my frank answer.
1. You will be cheated of 40% of your hard earned savings. If your savings should accumulate to $500,000 by the time you retire, the insurance policy will take away $200,000 from you.
2. If you buy the right insurance, you should give away $50,000 and keep $450,000 for your retirement.
3. You deserve to be cheated, because you are too lazy to attend a talk (www.fisca.sg/events) or too stingy to pay $30 for a talk or to pay $12 to buy a book (www.tankinlian.com/ishop).
4. You only need to spend 1% of your annual income on insurance. The best form of savings and investment are taught in the FISCA talk or in my book. Learn now, how to take care of your own financial future. Spend the time and a few dollars.
5. The life insurance companies will keep introducing new products to catch the naive consumers. Their insurance agents are trained to keep selling new products to you, so they can earn the commission and the insurer can make more profits from the new products and the old products that are being replaced.
Stressful experience on getting a refund
This consumer was "cheated" by a forex trainer into paying a large fee for a course that he did not attend and had a difficult time to get a refund of the fees. He shared this story to warn other people to avoid falling into the same trap.
http://tankinlian.com/admin/file.aspx?id=755&IID=762
Abuse of the Internal Security Act
Someone asked for my views about the Internal Security Act and the people who were arrested in Operation Cold Store in 1962.
Most people were told that the operation was carried out to put the dangerous communists behind bars, so that they will not cause unrest and violence in Singapore. This message was drummed into the people by the newspapers. The Barisan Socialists were painted in a bad light.
When I was in Secondary School in the mid 1960s, I lived in Thomson Road, near the junction of Balestier Road. The Rakyat Clinic (Malay name for People's Clinic) was located there. The name of Dr. Lim Hock Siew was written on the wall of the clinic; but Dr Lim was not there, as he was arrested in 1962.
I had met Dr. Lee Siew Choh many years later, and found him to be a soft spoken and gentle person. He did not seem to be a dangerous person, although he was a leader of the Barisan Socialists.
I watched a speech by Dr. Lim Hock Siew on Youtube in 2010 and met him once. I got to know of him and his his beliefs in democracy and social justice. It was really sad, that good people like him and his comrades were detained for several decades. Singapore would have been a much better place today, if the Internal Security Act had not been abused by the people in power.
I like to see the ISA replaced, just like it was done in Malaysia.
http://singaporerebel.blogspot.sg/2011/09/dr-poh-soo-kai-and-mhas-fiction-of-his.html
Most people were told that the operation was carried out to put the dangerous communists behind bars, so that they will not cause unrest and violence in Singapore. This message was drummed into the people by the newspapers. The Barisan Socialists were painted in a bad light.
When I was in Secondary School in the mid 1960s, I lived in Thomson Road, near the junction of Balestier Road. The Rakyat Clinic (Malay name for People's Clinic) was located there. The name of Dr. Lim Hock Siew was written on the wall of the clinic; but Dr Lim was not there, as he was arrested in 1962.
I had met Dr. Lee Siew Choh many years later, and found him to be a soft spoken and gentle person. He did not seem to be a dangerous person, although he was a leader of the Barisan Socialists.
I watched a speech by Dr. Lim Hock Siew on Youtube in 2010 and met him once. I got to know of him and his his beliefs in democracy and social justice. It was really sad, that good people like him and his comrades were detained for several decades. Singapore would have been a much better place today, if the Internal Security Act had not been abused by the people in power.
I like to see the ISA replaced, just like it was done in Malaysia.
http://singaporerebel.blogspot.sg/2011/09/dr-poh-soo-kai-and-mhas-fiction-of-his.html
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