20-litre cap on fuel sales

mobile broadband the Malaysian way

The Malaysian rules say;
The cap is applicable to foreign-registered vehicles within a radius of 50km of Malaysian's borders effective December 28, 2009. But vehicles from Singapore are exempted. Shell V Power is excluded from the above rule as it is not a subsidised product.

After so many years of working experience, human should have learned that too many rules and regulations, things are open for abuse.

An article in Malaysia tabloid suggested various ways to beat the system:-

• pump 20 litres first, drive around the petrol station and pump again;
• pay with credit card for first 20 litres and pay cash for the remaining;
• pump at Shell and then go to Petronas (vice versa or etc etc)
• any other brilliant idea?

Even Malaysians are asking the Authority to think through before implementing anything...

Who can enter Singapore casinos?

a casino taking shape

THE National Council on Problem Gambling (NCPG) yesterday announced the launch of Third-Party Casino Exclusion Act.

The Act bars undischarged bankrupts as well as members of households that are receiving public assistance from entering casinos.

According to NCPG, it will bar 28,661 persons covered by the Act automatically from the casinos.

Taking away people who are underaged, people who will never gamble, perhaps civil servants, bank officers, teachers, accountants, doctors.. perhaps we won't have many Singaporeans or Singapore permanent residents left who can enter the casinos here.

Renewing Malaysian passport in Singapore

Yesterday, I spent half and hour recceing the place. Well the Malaysian Embassy is still at Jervois Road. There seems to be some changes. Noted that the notice that December is a busy month with a limit of 160 passports to be issued per day. Hmm.. I guess I go to be early to queue up... 6am? Sigh

The next day, ie. today, raining heavily, in slippers and bermuda, I arrived at 7.45am.. At the Security Counter, I exchanged my expired driving licence for a security pass to enter the premises. Got scanned by a metal detector before proceeding earnestly to the hall. Where to get the forms? A lady told me that I have to get it from the security counter.

@%$#%@ as I walked into the rain again to collect a form from the same security counter. After completing the form, photocopied my expiring passport and identity card (@30cts per page), I joined the queue to get a queue number to submit the application. I was expecting to pay an exorbitant amount for photocoping. 30cts is definitely acceptable. I joined the queue at 8.35am and reached the counter at 10.15am. The officer rejected my two photos on the ground that it is the same as per existing passport issued 5 years ago. I said I still look the same. Officer said no again and issue queue number "1067". I trooped over the photo taking machine and got another queue number. Paid $6 (still acceptable) for 4 instant photographs.

"1067" flashed at 10.45am. I trooped over and handed over the docs. The lady at the counter asked for my Singapore I/C. I said I didn't bring. I am wondering why Malaysian Embassy wants to see another country's document. Perhaps Malaysian government now want to know how many Malaysians and who are actually working in Singapore. Paid $124 for a 32-page passport. By 11am, the submission process completed with minimum hassles. Malaysia has really improved since I was here 5 years ago!!! I was ready for a good lunch given the hard work I put in in the morning!!

At 3pm in the same afternoon, I was back at the Embassy. Got to security counter to do the exchange thingy again. Before entering the Hall, the notice board said the Security Pass number would be the queue number. My number was 123 and currently serving 90. Half an hour later, I got my new passport!! Kudos again to the Malaysian government.

Here are the pertinent details:-
Opening hours - 8am to 11.30am and 2.30pm to 4.15pm on Monday to Friday.
$128 (adjusted to $124 as SGD appreciates) for 32-page - Adult.
$64 for children below 12 years old
130 queue numbers are issued everyday.

Documents needed:-
1. The form (download at www.imi.gov.my / security counter)
2. Two recent photographs with blue background (3.5cm by 5cm)
3. Malaysian I/C (original and photocopy x 1)
4. Expiring passport (original and photocopy x 1)
5. Singapore status documents
6. You must personally be there.

A big task done. Phew....

MCYS foster father

Question - Should MCYS apologise publicly to the 15-year old girl?

Here are the reasons for the apology:-

a) MCYS is essentially responsible for the appointment of the foster parents.
b) Four years after the incident, the girl is still traumatised and dogged by nightmares of the incident.


Here are the reasons against the apology:-
a) The quilty foster father has gone through training.
b) The foster family has been appointed since March 2003. The reported crime happened in 2005.
c) There is a due process by an independent assessment panel to approve the appointment.
d) He committed non-violence crimes (theft/attempted house breaking) more than 20 years ago.
e) The other five children cared for by the same family are unharmed. (Someone please go check with them.)
e) He is seen to be part of a healthy family of wife and 2 children.
f) In 2006, there was another similar case by another foster parent.
g) These are isolated incidents.

The current Prime Minister of Australia apologised publicly for the crimes committed against children in foster care in the last decade. While the situation may not be so prevalent in Singapore, it is a matter of basic human courtesy for someone in MCYS to take some responsibility to and for the girl.

Which country has the lowest birthrate in the world and in history?

Selamat Hari Ray Haji

Answer - Taiwan with a birth rate of 1.05 children per woman (7.04 in 1951).

It is so frightening obvious to a teacher in a middle school (I guess, secondary level).

Five years ago, she was teaching a class of 28 students. Now she is teaching a class of only 20.

The declining birth rate has caused some teachers to leave their job.

Moral of the story - Teaching profession is also no longer an iron rice bowl. Hmm.. Edgar now see a threat to his alternative profession of being an educator.

Source - Business Times, Nov 4, 2009

Dr Martin Huang

It was reported in Saturday's ST that a doctor by the name of Dr Martin Huang, who runs The Cosmetic Surgery Centre at Paragon, has been censured and fined for injecting sheep foetal cells into three of his patients.

For what? The sheep foetal cells is supposed to slow down ageing and to rejuvenate. The process is called cell therapy. He has also done the procedure on himself.

Perhaps a few years later, we could be reading another news article on an interview with Dr Huang and one of his patients.

Journalist - Both of you certainly look very youthful and radiant. But I notice you have a long streak of beautiful white fur like hair from your chin while Mary has some black hairs on her hands. How come?

Doctor - I feel great. I injected myself with the best foetal cells from New Zealand sheeps. As to Mary, she wanted cheap and good... so I gave her the Malaysian goat foetal cells instead..

After the interview, the doctor and Mary were heard to be arguing in the next room.
Click here to listen to their conversation .

Pump prices not affected by one factor

Loh Pin Chuan, Public Affairs Manager of ExxonMobil Asia Pacific attempted to reply to Mr Ryan Tung's query on the less than perfect correlation between pump prices and crude oil.

Loh Pin Chuan listed and explained the following factors affecting pump prices:-
a) internationally traded wholesale prices;
b) operating and capital costs;
c) taxes and duties;
d) currency exchange rates; and
e) market competition.

Essentially Pin Chuan's reply confirmed my usual understanding that there are many cost items affecting final retail price of their products or services.

But this explanation led me to the next question ie. do Shell, ExxonMobil, Caltex and SPC all have the same exact cost structures?

Apparently they do as they generally and largely (until recently) adjust their pump prices at about the same time and by the same amount.

Pin Chuan explained the "same-price" phenomenon - "Competition is keen in geographically small Singapore, and motorists are extremely price-sensitive ... no company will allow the others a price advantage at the retail pumps."

There is pro and con in this situation. Motorists are also at the mercy that at least one of the 4 operators make the first move to adjust prices down. If all 4 operators are "lazy" in adjusting down, who is to tell them to adjust?

Banks try to siam left right and centre?

the beginning of "bridge"

Weeks ago, there were outburst about banks, quietly removing the liability cap from the terms and conditions and the way they handle fraudulent transactions done with stolen/lost cards. Some banks (I think they are Citibank and MayBank) have since chosen to take "honourable road" by re-instating the liability cap.

Today I read about the Law Society president questioning banks' practice of excluding themselves from liability (yes again) for losses suffered by accountholders for forged cheques.

Under the Bills of Exchange Act, your bank is supposed to honour your cheque ie. pay in accordance to written instruction with legitimate approval. The law does not protect the banks from liability from errorneously debiting customer's account without legitimate approval.

Until this unilaterally created confusion is cleared up, you better hang on tighter to your cheque books.

Good bye Singnet from home!

Today is 29th September 2009 ie. 29092009.

My home Singnet broadband account has finally been terminated after more than 10 years. vpacific@singnet.com.sg has been my email address since day one when internet was first introduced.

I remembered the day when Singnet asked for a "name". I didn't know what it was referring to then and I had suggested "apple". Of course I got turned down.

My next step is to terminate my home line and moving to Starhub for my free unlimited digital line. I would save me another $50 per quarter!

Thank you and good bye, Singnet.

My first Singapore F1 experience

10 metres from the roaring engines

Shenton Way from where we sat

IR in the background

people watching with me

A law for over-queuing?

I do believe that we need a law to prevent too many taxis from queuing at a particular stand. Why? Because the long queue of taxis actually caused traffic jams and hazard to other drivers.

What say you?

F1 is a joke?

F1 in trouble?

I can't believe it when Renault actually admited that the crash by one team mate in Singapore last year was actually staged to allow his team mate to win the chamionship.

The team's top two persons resigned to take responsibility. The team may have to pay a fine in excess of USD$100mio. I am wondering whether last year's results in Singapore F1 circuit is allowed to stand.

I am also wondering why is it wrong for one team mate to do something to help another team mate to win a race. Team mate is allowed to use his car to block other cars passing his team mate's. But you are not allowed to crash your car to help your team? Then why do the F1 ruling body allow each team to field two cars in the first place?

Are you not asking for trouble?

What do you want to be?

In Beijing, a six-year old was asked on what she wants to be when she grow up on her first day in school.

"When I grow up I want to be an (government) official," said the girl.

"What kind of official?" the interviewer asked.

"A corrupt official because corrupt officials have a lot of things," she replied.

$100 Liability Cap for Lost Credit Cards

a lop-sided world

Basically, in my humble opinion, the Banks who HAD placed unlimited liabilities for lost credit cards on credit cardmembers, were just taking the easy way out on the weak individual.

When I first started work in the Bank many years ago, there was the $100 liability cap.

I wasn't even aware the Banks had removed that limit cap and instead placed unlimited liability on individual credit cardmembers. The banks quietly amended the terms and conditions.

From Nov 1, 2009, the limit cap of $100 will be back in place.

Between merchants who are contributing to the Banks' bottomline and thousands of individual cardmembers, the Banks had chosen not to pick their fight with the merchants.

The cashiers of these merchants should and could have verified the identity and signature of the person using the cards. But on many occassions, these cashiers hardly pay attention to what you are scribbling on the vouchers. The Banks had chosen NOT to fault the merchants in fraudulent transactions but instead placed the blame on you for not reporting early enough. You, like Ms Tan Shock Ling must be responsible for the full amount charged until proven otherwise. In her case, $17,000 bill!!!!!

Luckily for all honest credit cardmembers, some good people in Association of Banks or MAS may have the guts to change!! Bravo to you!!!!

"I walk faster... "

a new world in the making

"I find myself walking faster upon my return from Hong Kong," so says a friend who has just return home from holidays.

I thought that was an interesting description. While I have been to Hong Kong for both work and pleasure on many occassions, I would often just give the boring line "Hong Kong's pace of life is faster... you can feel the energy there... people there are always on a lookout for opportunity to make money... "

In a two-hour conversation I had with an ex-Mainland Chinese who has taken up Singapore citizenship, I notice a significant level of energy and positivism in her. Despite the fact that she is holding a more than credible job now, she does not hesitate to talk about opportunities as a stockbroker, property agent etc etc. She illustrated to me that she is very meticulous and focus in moving up. Her feeling of being discriminated as a Mainland Chinese made her work harder and smarter.

When I tried to lighten her enthusiasm for property agency with news on recent lull in transactions just 6-9 months ago, she said she is very confident she would have some deals to work on and one must stay positive.

My 3rd story along this theme was about my colleague, a girl in mid twenties. We were on assignment in KL. She said this to me, "I don't know how to cross the road without the traffic light."

Final words - The above stories reinforce my belief that young people in their early career path should seek job opportunities that would allow them to travel or work in a foreign environment. The world outside Singapore is very different. For better or for worse.

Get out of our shell and experience that to get the best out of you!

KPIs for Town Councils

a lift for 2-storey building?

Tentatively, Town Councils will be assessed on five indicators in total on cleanliness, maintenance and financial management.

It is about time that some sort of Key Performance Indicators (KPIs) are put in place. The KPIs suggested are from both financial and non-financial oriented.

In any performance measurement exercise, the subjects being measured and users of the final information would be very interested to know how are they measured.

If cleanliness is measured by the number of litters seen in 3 sample blocks, examples of things we would want to know would be:-

• how are the blocks selected,
• who is conducting the inspection and;
• how regular will the inspection be done.

Other courses there are many possible performance measures. My view would be response time to lift emergencies and maintenance schedule of lifts would have an immediate life threatening feature as compared to 3 pieces of litters not collected for 3 days.

As I am a number person, I would be very interested in the use of public fund in managing the estate. May I refer you to the picture above. We are looking at the construction of a lift to a 2-storey building by the Town Council serving about 10-15 families. I am very interested in how they arrive at the decision to do just that.

Make all kind of prejudices disappear

In today's Today, Ooi Kee Beng wrote a piece entitled "Can Najib (the Malaysian PM) drop 'Malays' from UMNO. The Malaysian PM is trying to get his government to drop the need to specify one's race in official documents.

Singapore has actually gone through the similar exercise of reviewing the need for job applicants to fill up information about sex, marital status, religion, race, weight and height in the application forms or even advertisers specifying the criteria of their potential hires.

For advertising matters, there are editors to ensure compliance but how about employers? Are they still using forms from the third world?

What is your experience on the above? Just wondering whether the above is actually being practiced in the real world. Share your view at AnythingWithEdgar.

Two killed on rail track!

another type of accident

Two Republic Polytechnic students (a boy, age 19 and a girl, age 20) were knocked down and killed by a train bound for Johor Bahru at about 5am on 8 Aug 2009.

It is very rare and difficult for a fatal accident to occur with a railway train in Singapore.

On that fateful morning, two young persons died on the railway track.

There are so many whys:-
a) Was the train moving too fast?
b) Did the young people even tried to move?
c) Were they sleeping on the track?
d) Were they too drunk to move?
e) Why were they still out at such unholy hours?
f) Were they drinking nearby?
g) Did anyone notice the couple?

Chai Chee and Bedok Town Secondary Schools

It was announced recently that the two secondary schools will merge at the start of academic year 2011.

Subsequently it was reported that an online "war of words" broke out.. of course with students (past and present) from the respective schools coming forth with their pros and cons...

If that online war is true,then the management of both schools should be commended for having done their job of building their respective identity well among their students over the "short" years of existence.

If there were no passion, there will be just plain acceptance of the merger. It is so sad that that sense of belonging to an alma mater would disappear with the merger.

Perhaps the Authority should place a wee bit more importance before deciding to wipe a school out of existence or merge two schools in a new entity. Perhaps the Authority has no choice but to merge... Why no choice?

Consequence of not enough babies!!!

Are there many Jennie Chuas in Singapore?

Who is Jennie Chua? I had a brief encounter with her a few years ago. She came across as a very friendly and no-air person. Her biodata and achievements to date as follows.

Chairman, Singapore International Chamber of Commerce
Chief corporate officer, CapitaLand
Chairman, Raffles Hotel
# 1945 Born in Singapore
# 1971 BA, Cornell University, School of Hotel Management

Partial list of other positions:-
# Chairman, Community Chest
# Deputy chairman, Workforce Development Agency
# Board member, Sentosa Development Corporation
# Chairman, Singapore Film Commission
# Chairman, International Advisory Council for Tourism, Singapore Tourism Board
# Member, Pro-Enterprise Panel
# Holds 21 company directorships

Why am I showing you all of the above? To show you that she is a very successful and capable lady. But...

I have attached a quote from an interview published in this Saturday's BT Raffles Conversation.

When the interviewer asked how she manages her time, Jennie said,
'And I do have time. I'm divorced, so don't have a husband and don't need to spend time mollycoddling him; I have a companion, but he mollycoddles me! I don't play golf, which can take up two afternoons a week. My children are grown, and as for grandchildren, well, you play with them, and when you're tired you say, now please go home.'

'On the whole, I have to say I've had a wonderful life.'

My interpretation of that quote is that she sees having a husband as a chore, having a companion as good, children as no longer an issue and grandchildren as fun as long as she is not tired.

Perhaps the quote has been taken out of context by me. Not doing justice to her.

But the issue here is not on Jennie per se. I just wish to ask whether this is the price of having a successful career to a man or a woman. There is always a price!

Another Singtel mindgame?

Its $30 voucher to buy a phone OR $8 rebate per month for 24 months' contract.

If you choose to buy a new phone in the middle of the 24 months, rebate stops.
But if you terminate / downgrade / temporary suspend your contract, you will have to pay:-
$8 x no. of months with rebate plus $50 adminstrative fee.

What is Singtel trying to achieve?
Try to buy your loyalty (AGAIN, as in 2nd attempt) for 24 months with this kind of crap deal in my humble opinion. My loyalty is worth more. Perhaps Singtel should more loyalty to your customers with a sincere deal.

What do you think?

Election in Indonesia

the security I experience in a hotel in Jakarta BEFORE the recent bomb blast

far away from the lobby

No news is good news as one commentator said of the peaceful election in Indonesia.

I was in Jakarta last week. My client (supposed to be well informed) was not aware of the election date when I briefly enquired about the election. In my two hours' ride to and fro the airport, there was hardly any messy signs that the country is currently in election mode.

The election process in Singapore (just shown on TV5 news) for Indonesia surprised me. Any Indonesian citizens who walk in with a valid passport will be entitled to exercise their constitution right. Bravo to that!!

I hope Malaysia will that step in the next election.

Ponzi scheme here in Singapore?

ion continues to take shape

On Madoff's billions dollars Ponzi Scheme, the Judge asked Madoff before he sentenced him to maximum 150 years in prison, "Where did you learn the scheme from?"

Madoff clamly responded, "The Social Security Scheme."

Couple of months ago, I said US government could actually be doing a Ponzi-scheme too with its government bonds and Treasury bills. Upon maturity of $1 billion worth 5-year bills, the government would borrow $1.05 billion to repay the principal and interest of the maturing bills.

In Singapore, CPF collects contributions from current generation of working adults and paying out to the retiring group. Take for example - Every month, CPF collects $10 from thousands of employers and pays out $2 to people reaching 55 years or to estates of people who have passed away.

Madoff had been comfortable with a $8 positive margin to finance his lifestyle and massive marketing machinery for so many years. He only started to feel the heat when more and more people withdraw their monies.

The only difference is that our money with CPF are being invested in productive assets and thus generating income to pay interest. What if we reach the stage that we are unable to generate decent returns, the possibility of huge investment losses and a definite scenario of increasing no. of baby boomers withdrawing their lifelong savings?

Could we degenerate into another Ponzi scheme? Never says never. But we certainly must not let that happen.

Climb Mt. Everest for what?

Excuse me, why 6 beautiful ladies spent so many years of their lives and so much of don't know whose money, preparing and finally successfully scaling the Mt. Everest?

Can someone explain to me from their point of view?

Economic Strategies Committee

The Ministry of Finance yesterday unveiled the members of the Economic Strategies Committee (ESC) and spelt out its mission to develop strategies to keep the economy growing - and spread the gains to Singaporeans.

I thought I heard from the various senior government representatives recently that there is no need for the Economic Review Committee (ERC) to be reconstituted as Singapore is structurally sound this time round. The problem of collapse of external demand is beyond Singapore's ability to singularly remedy.

No need for ERC but we need ESC.

Harlem Globetrotters in Singapore - passe?

What came out well?
We were early.. way too early and thus no rush at all.
We were moved to better seats as the stadium was half full or half empty.

What came out badly?
The tickets said 6.30pm but SISTIC's website said 7.30pm. We sat there for more than an hour. Why?
Perhaps to get us there early without dinner. Is that a ploy for us to spend more money on the expensive food and drinks in the stadium. Or is to get people there on time?

The performance of the Globetrotters - slow, dull, unslick, not much basketball, too much clowning around, poor sound, probably the third or fourth Globetrotters reserve team came to Singapore.

Verdict - Don't waste time. Go do something else.

AWARE beware? Or be aware of AWARE?

Finally, it is official!!! MOE has suspended AWARE's sex education programme being run in our schools. Noted its programmes have both plus and minus points.

I was forwarded a copy of the materials used from a reliable source. After reading of it, I was thoroughly flabbergasted that such "things" are allowed officially in schools. I just hope not too much damages have been done to a generation of children.

1st Issue
I am not here to question what AWARE stands for. But the members of AWARE should be concerned as to whether the original intention of AWARE has mutated by adding a word here and there to their original manifesto by subsequent management committees.

2nd Issue
One of the first bit of info I was looking for in the initial many days of many full pages of newspapers dedicated to the "quibblings" at AWARE - How many members' interest were affected? Now we know... 300 members... until the fracas started...

Question for the Old Guards - Why were the membership only at 300? Has the membership been increasing or decreasing over the years? This is a good indicator as to whether AWARE has been doing delivering values to its members.

In business, no point telling our bosses that we have been working hard throughout the year. Bosses always ask, what are the measurable outcomes against targets?

3rd issue - "Membership increased from 300 to 3000" in a matter of weeks.
Apparently AWARE's constitution allows ladies to sign up minutes before a General Meeting and yet be allowed to vote on issues a few minutes after.

The Old Guards were voted out by the New Guards using this rule. The New Guards were subsequently voted out when many phantom supporters suddenly turned up at Suntec City by the thousands to sign up as members.

Suggestion - For the stability of leadership and operation of its various programmes, perhaps the Clause should be amended to require new members 3 months' "warming period".

One good thing that comes out of all these AWARE episodes - Singapore's society continues to mature as we openly discuss issues responsibly (said a friend of mine).

Open letter to SMRT (or the actual landlord), DBS

at unholy hours ...

Dear management of SMRT and DBS Bank,

Reference to the ATMs located in the basement of City Hall MRT walkway towards SCB and UOB exits.

On numerous occassions that the ATMs above were heavily assessed by users, forming long queues which cut across the common walkway. These queues caused congestion in an already crowded environment, particularly during peak period.

Questions

• Is this appropriate from various safety aspects?
• Should the DBS Bank's ATM users impede on the benefits of other users of the public facilities there?

Please review.

Stop throwing rubbish at my place

Do you have the right to do this to me?

Gelylang Serai Market - What NEA has been saying

it has changed so much since last...

Background info - About 150 people were treated for diarrhoea and stomach pains with 2 elderly dead and an abortion after consuming Indian rojak contaminated seafood materials from a hawker in Geylang Serai temporary market.

What has National Environmental Agency (NEA) been saying so far? Here are the various quotes and my associated comments:-

1. NEA said that it was not directly responsible for hygience at temporary markets, but only at permanent ones owned by Ministry of Environment and Water Resources. "... is job of its management committee" (ST April 9, 2009)

Question - If the management committee of the temporary market is not doing their job in ensuring cleanliness, whose responsibility is it to ensure that these committees effect their responsibility?

2. The alleged stall has been re-rated from "B" to "C" since last December 2008.
But till the day of the incident ie. about 3-4 months after re-rating, the stall is observed to be displating the old notice of "B". (ST April 9, 2009)

Question - Whose responsibility is it to ensure that the stall owners change the displayed sign when applicable?

Guide on fairness but what about the law?

Mr Tan Kin Lian asked the above in his letter to the Forum published in ST on April 7, 2009.

Essentially, I think he said the following:-
a) He is asking for the outcome of MAS/AG's investigation on the petition signed by 983 people affected by the Minibond/Hi-Note saga.
b) You do not act by issuing more guidelines for the industry.
c) Has the law been violated or even activated to address the problem?

My views.
The financial industry is an important component of Singapore's economy. So important that the various of organs of government have to tread carefully in handling the matter. It is not just a matter of addressing the problems of a few thousands individuals and a few prestigious financial institutions.

The guidelines are useful to prevent (hopefully) the recurrence in the interim.

But the state of our financial sector is also so important to other countries that Singapore made it to the "Grey List" of nations with practices that other countries are concerned about. (I think this is an appropriate way to put it.)

The question is whether a crime has been committed. Let me attempt to give you a parallel analogy.

Let's say that a man sold you a stone that was supposed to heal a thousand ailment but it did not. What would you do? You would report to the police and the man would be prosecuted after due investigation.

Similarly (in my humble opinion), if a financial adviser sold you a product that is said to be "capital guaranteed" and "better than fixed deposit" but actually not so. Then what would you do?

So the question again - Has a crime been committed? We await the outcome.

En bloc then, En blocked now

In the Sunday Times last weekend, it ran a story of Horizon Tower 2.5-year-saga coming to another temporary end with the Court of Appeal ruling in favour of stopping the $500mio en -bloc sale to a group of buyers led by HPL's Mr Ong Beng Seng.

Who are the parties involved and what have they won and lost?

The 4 sets of homeowners who objected to the sale
- get to keep their home
- but collectively may have to pay $1 million in legal fees

The 173 sets of homeowners who were for the sale
- total legal costs at about $2-3 millions but "luckily" to be shared by 173 homeowners
- more painful for those who have jumped the gun by going into the property market then and bought a replacement property in anticipation of the sale going through - now these people got to service the loan of an expensively purchased property.

The buyers - HPL and its partners led by Mr Ong Beng Seng
- may have to work out the cost sharing of legal fees of trying to conclude the sale

The lawyers for the buyers, majority sellers and minority homeowners
- We are still awaiting the Court to determine costs but the costs estimated to date could be in the range of $5-6 millions.

The Small Title Board, the various Courts ie. the System - they have been asked to participate in history making.

But one important party not specifically mentioned in the newspaper review is the Government and its officers who have designed and approved the en bloc scheme for use by the market at that point in time. We have to ask the question as to whether en bloc scheme introduced at that point in time, has any contributory effect to the saga.

There should be review of the process and procedures to test on the robustness of any scheme to be implemented. We are dealing with people's home (some with a lot of emotional attachment), to others, one's biggest and most significance asset and to the rest, assets worth millions of dollars.

I got a feeling that the saga is not at its complete end for the moment.

P/S - I have benefited from the en bloc scheme applied to Bedok Reservoir's HUDC but with much fanfare too. I will spare you my views on that exercise for now.

HDB's Lease Buy Back scheme - A cynical view

to be ready soon?

While having lunch in a coffee shop in an old neighbourhood about 2 weeks' ago, I heard this man telling his friend about the Lease Buy Back scheme.

What is Lease Buy Back (LBS) Scheme?
For a 3-room flat with a remaining lease of 65 years, the lessee can sell the tail end of the lease back to HDB ie. 35 years for:-
a) you still get to stay in your current flat for the next 30 years;
b) $5,000 lump sum payable upfront to you
c) the rest of the payout goes towards an annuity which will pay out a fixed sum of money every month.

Depending on the age and expected mortality rate of lessee, the payout could range up to $800 per month.

I thought this is great as it allows asset-rich-cash-poor people to encash part of their assets.

Guess what the man said about the monthly payout. "In 10 years' time, we may not even get a single cent of the money as the monthly payout will first go towards paying the utilities' bill !!!"

Amazing alternative view :) I must admit I didn't see that coming at that moment.

Good night.

Another cynical story for u

As I was thinking about the Anonymous reader's comment that my made-up hypothesis of Jerry Ee's decision to turn himself was being cynical.

I wish to try to up the ante with this view that I heard from a friend.

On Sunday's Straits Times, the story also mentioned about another old man, who had stayed in a village in Thailand for many years, too decided to turn himself in.

Why? I wonder after all these years.

He is said to be sickly. Thus a logical hypothesis would be for him to come home to Singapore and let the world best health care system take care of him at taxpayers' expense.

Jerry Ee surrenders? How come?

Can you imagine what could happen to someone walking around in Thailand with $8-9 millions worth of watches in his suitcases? The Thai underground network could be abuzz with news of someone trying to sell very expensive and unique watches.

He couldn't sell them off fast enough nor at the right price. He is not sure whether he could leave Thailand.

So probably the best idea would be for him to turn himself in at the Singapore embassy with those watches that are more difficult to sell. Then go to prison for a couple of years. In due time, he could re-unite with those watches that he has kept (estimated cost $3.3mio) or the cash from watches sold (maybe a $1m after discount given).

Jerry, is this your plan?

Background
Jerry Ee, a former Cortina Holdings employee, went missing with $8m worth of luxury watches in December last year. Recently he turned himself at the Singapore embassy in Bangkok.

SCB and OCBC are now on 2

SCB have betted heavily and successfully on the two legs on 50,000 individuals (I think) recently and over the years to run in marathons organised by them.

The light blue Adidas tops seen on many Shenton Wayites during their daily jogs are now worn with pride as a testimony that that the individual wearing that top has earned it through his/her participation in a marathon.

The light blue top now signifies a fitness level sufficient for a marathan (albeit half marathon for some). It is like getting a proficiency badge for a scout or girl guide.

The above demonstrated the use of a sporting event by a corporate entity to promote brand awareness and other objectives very successfully.

In recent time, another bank in the form of OCBC has followed with launch of their sponsorship to promote cycling on 2 wheels, of course. Thousands too turned up.

2-leg vs 2-wheel? Well at this moment, 2-leg is way ahead of the game.

Taxi ridership falls year on year

On Feb 21, the daily average taxi ridership data was published on ST.

It confirmed the fact that fewer people are taking taxis. I guess the incessant increase in taxi fares and ERP charges are actually discouraging taxi riderships for other forms of public transportation.

But the number of taxis on the roads have increased tremendously. This increase in taxis has led to reported poaching of taxi drivers. Many went to secure a taxi driver licence as an insurance against being jobless.

So if the actual taxi riderships have gone done, is there a need for more taxis to be on the roads? As more taxis ==> contributing to jams ==> higher ERP ==> discourage further demand for taxi... So is this what the taxi drivers want?

But they can't try to compensate for their lower income by pressuring the taxi companies to raise fares. This is not the solution either.

The problem is the demand. If the demand is declining due to competing alternatives available to passengers and the trend seems irreversible, a taxi driver should be thinking of re-training and joining another profession soon!

think twice before forwarding that SMS

suppose to be ready by end 2009?

Last Saturday, a well intentioned friend forwarded a SMS to me about some terrorist and police activities at Bugis Junction. I replied with a caution that I hope she has checked the info before forwarding. Otherwise you could be called up for disseminating harmful rumours.

Instead of thanking me for the caution, she responded, "Then you don't forward."

Puzzled by lack of care attitude. Sigh we need to know the consequences of our action.

The very next day, it was reported in the newspaper that a 19-year young man has been arrested in connection with the SMS.

Well I hope she has read the paper. I doubt she reads. :(

True Spa and 16 unhappy customers

I have had a bad experience with the said entity too.

My focus here is the method adopted by the 29-year-old assistant marketing manager, Ms Tan Siang Mei, who bought a $4,000/- spa package in 2006, to seek remedy from True Spa.

After repeated attempts to consume the package but failed, she went online to seek out people with similar experiences with True Spa. She placed her name and contact details at the many online forums.

80 responded with 15 agreeing to join her in filing a collective law suit.

Power to consumerism. Businesses beware.

Ms Shonia Ng and her dead dog

It was reported recently that Ms Shonia Ng's dog died from a CONTAGIOUS canine disease because the pet farm she bought it from, did not give it proper vaccinations.

Questions

• Can the disease be transmitted from animal to human now?
• Could it mutate and consequently enter human chain through constant hugs and kisses between the dog lovers and dogs?
• How many other such dogs without vaccinations roaming the streets of Singapore now?
• What is the Authority doing about this issue?

ERA or just a few bad apples?

Sellers- Mr and Mrs Yuen Chow Hin

ERA Property Agent - Mr Jeremy Ong

Buyers - Mdm Natassha Sadiq
Wife of Mr Jeremy Ong's boss, Mr Mike Parikh, ERA senior group division.

The Yuens sold their property to Mdm Sadiq at $688,000 to a Mdm Sadiq as recommended by Mr Ong. Mr Ong conveniently "forgotten" to tell the Yuens that the buyer is his boss's wife.

The property was subsequently resold at $945,000.

The Yuens did not smell any rat until they were queried by CPF for selling at such a low price.

Court ordered ERA (not the property agents) to return $257,000 to the Yuens. ERA said they should not be responsible as the property agents carrying their banner are "independent contractors".
My view
Whether the agents or the shell that represent the humans, the Yuens should get their monies back. I am waiting to see what will happen to Mr Ong, Mr Parikh and Mdm Sadiq. I wonder whether there is other victims... Sigh

I do not have a good impression of the property agents that I have interacted with over the years.

The first one only have to turn up for the meeting to earn her fees while we, as a young married couple then, bargained feverishly with the owners. Immediately after we got the option, the agent said she could to flip it for $30,000 profit. Huh?

The second one was a rookie entering the industry. These untrained ones should not have been let loose unattended.

My third encounter was on a tenancy matter. He tried to collect monies from both sides ie. the landlord and the tenants.

My fourth encounter was for the purchase of the current home we are staying in. Seller, a widower, was my mum-in-law' neighbour for many years. I was dealing with her all the time. Her son has the thickest cheek to approach me for money after the deal has been agreed with his mother even though I hardly see throughout the process over a few weeks. I duly tell him to back off.

Bottomline - For many years we have let the situation to persist ie. the poor state of property agency in my opinion. It is a jungle out there. Be careful.

Can buy Johor?

Kiribati, an island between Hawaii and Australia, is the second island-nation after the Maldives that has floated the idea of buying land should their islands be swamped by rising seas and more powerful storms.

The sea level around Kiribati has been rising 5.1 millimetres a year since 1991, Australia's National Tidal Centre reported.

The immediate consequence effects - Higher tides in Kiribati's 33-island archipelago are making potable water for its 100,000 residents too salty to drink.

Now switch that thought to Singapore, an island nation too. We have created reservoirs from the sea. Most recently, the Marina reservoir. Could these reservoirs be one day claimed back by salty seawater? Do we have a contingency plan for rising sea level? Build dykes around Singapore? Maybe.

Or perhaps offer a price to Johor Sultan / Malaysia to buy over Johor state as insurance against rising tide? Or should we build a Noah's Ark instead?

Semua Boleh - A country of U-turns

atms-induced traffic jam at raffles place

A neighbouring country has been observed to have so many u-turns but not on the roads though; but in major political and investment decisions.

Examples of such u-turns:-

• to sell the national cancer centre to a private company, then reversed
• to build a s-shaped bridge, then stopped
• to build one of the largest dam in this region, then stopped
• to build an airport for budget flights, then reversed
• politicians going independent yesterday and back to their incumbent party today
• another gentleman said he will have enough support to take over the government on such such a day - the day came and gone
• to charge higher petrol prices on foreign cars going into the country and then nothing

Do you know of other example?

Huh? Like this also can meh? Selamat pagi :)

20cts more for a cup of coffee?

oops.. no CNY picture

Is it the same as $4 surcharge for a usual $6 haircut applicable two weeks before and after the Chinese New Year?

Or is it the same to pay $48 per kg of Lim Chee Guan's bak kwa after queuing from 4am when perhaps you pay half the price with no queue during normal days?

Are the above 3 situations the same?
To me, they are different and I would behave differently towards each.

Firstly, I am willing to pay 20cts more for the coffee. Why? The coffee was served by a Chinese. I am not being racist here. To be more precise, the Chineses who made and served the coffee have sacrificed their holidays and time with family to provide a service to me.

Second situation - No surcharge would be payable by me here. Why? She is the same hairdresser who cut my hair. The haircut is not done during the immediate holidays.

Third situation - Plain and simple no.
But some may rebuke me by saying what is Chinese New Year without bak kwa.
Then I would reply, "Without bak kwa or without Lim Chee Guan's bak kwa?"
Perhaps another would say, "What would Valentine Day be without flowers?"
Then I would reply, "For every day that we are together, .. blah .. blah blah"

The basic criteria - Is there an opportunity cost suffered by the provider of the product or service? If yes, I will compensate you. Do you agree?

Happy NIU Year, my dear friends.

The Lessons of Capt Sullenburger

What lessons can we draw from Capt Sullenburger's heroics? Remember he was the pilot who calmly steered the plane to land on Hudson River with little or no engine power after the engines were damaged by a big flock of big birds. He saved more than 150 lives including his.

In critical moments of our lives, we need to remain calm and stay focus on getting the job done.

Are training, practice and experience the key ingredients to that incident? Is it coincidental that the plane has such a pilot with all the necessary characteristics at that moment?

To the 150 plus people on board, they must be glad that he was at the cockpit.

Luckily he was not one of those people who is victim of many cost-minimising exercises in Corporate America where the older people, deemed more expensive, are being replaced by the cheaper younger pilots.

My concluding remark - Whether you are a young or more "matured" person, we must all strive to possess those characteristics. Let's all view each other as being useful one way or another.

Inspired by Edgar?

I regularly sent out emails to my ex-students enquiring about them.

I received a response from a Mr Tan K.T. sharing with me the changes in his life. The most important bit that really amused me was when he told me that he is now married and the couple has a new addition to the family, a boy. Great? Not yet.

The greatest thing is that they have unofficially (not in I/C) named the boy "EDGAR" !!!!!!!!!!!!

Inspired by Edgar indeed.

So Edgar Tan, welcome to this World but be careful of Edgar Wong :)

No news in ST Money?

I have noticed that there isn't much business news in ST Money particularly on Mondays.

Check today's ST ... there is so little news that the editorial team has to slot in book reviews "Overhyped Books".

Are all the business news in Business Times? Or are there really nothing happening in business?

To the extent that no news is actually good news? Smile...

Who is really learning? Teacher or student?

I have just this article trying to define what is learning. The authors', Ackoff and Greenberg, basic proposition is that you learn more when you are teaching. This is against the popular understanding that you can only learn from being taught.

I want to share with you the following series of exchanges between a professor and a student cited from the article which drive home the point into my deep skull.

(quote) After lecturing to undergraduates at a major university, I was accosted by a student who had attended the lecture. After some complimentary remarks, he asked, "How long ago did you teach your first class?"

I responded, "In September of 1941."

"Wow!" The student said. "You mean to say you have been teaching for more than 60 years?"

"Yes."

"When did you last teach a course in a subject that existed when you were a student?"

This difficult question required some thought. After a pause, I said, "September of 1951."

"Wow! You mean to say that everything you have taught in more than 50 years was not taught to you; you had to learn on your own?"

"Right."

"You must be a pretty good learner."

I modestly agreed. (unquote)

In conclusion - Oscar Wilde remindered us that "nothing that is worth learning can be taught". We have got to want to learn it.

Source - Knowledge @ Wharton

A stupid offer!

In the midst of my day, a call came in from Singtel's marketing agent.

She duly informed me of Singtel's latest "promotion". What is the Offer?

"Commit to a 2-year contract in return for longer "free" talk time and increase in "free" sms from 500 to 1,000"

Initially I could not understand the offer and asked her to repeat again. It then dawned upon me that Singtel is trying to buy my 2-year loyalty for NOTHING!!!!!!

Singtel must have analysed their customers' data on talk time/sms utilisation. Perhaps a smart alec came up with the idea that why don't Singtel give these customers something they don't really need in return for tying them down for 2 years....

Please treat your customers with respect too.