Choose the right life insurance policy

Before you commit a lifetime of saving in a life insurance policy, you must know what is a good policy and what is a bad policy. You can get some tips here. Link.

Medical bills for the elderly

Are medical bills for the elderly so expensive and unaffordable? They don't have to be. Here are some tips.  Link.

Protect against loss of NCD

Dear Mr. Tan
I met with a minor accident last year. It was a minor accident and both parties agreed not to make any claim. I made a report to my insurance and told them that I would handle the repair on my own.

Several months later, my insurance company told me that the other party is claiming a large amount for quite extensive damages to the other car. The damages were not caused by the accident - but how can I prove it?

My insurance company told me that they will be paying the claim, and I would lose my NCD. Is it fair? Can they take away my NCD when I did not make any claim?

REPLY
When you have an accident, it is best to take photos of your own car (and the other car as well) and send them to your insurance company. You should do this step, even if you are not making any claim for the repair of you own car. The insurance company will have a record of the actual damages and can refute any fraudulent claim involving aggravated damages.

Under the current practice, the insurance company will reduce or remove the NCD if they have to pay a claim on the policy from the policyholder or the third party. This is why it is call a "no claim" discount and is not a "no blame" discount.

As a service to the public, I will be building a website (under c-pearl.com) to allow the policyholder to upload photos of damages to their vehicle (and the other party's vehicle). The policyholder can provide the photos to the insurance company when it is needed in the future.

Ten years to reach Plato

Wow! It takes almost 10 years for a spacecraft to fly from Earth to the planet Plato, which is located in the same solar system! The universe is really big!

The New Horizons spacecraft has completed a historic fly-by of Pluto, NASA says, making its closest pass at7:49 a.m. ET.

The unmanned, piano-sized spacecraft was traveling nearly 31,000 miles per hour when it passed about 7,750 miles above Pluto. 

New Horizons will continue traveling out into the Kuiper Belt, a region scientists think is filled with thousands of other small, icy worlds. Scientists say the probe will continue sending back data about Pluto for several months.

New Horizons was launched from Cape Canaveral, Florida, on Jan. 19, 2006, and traveled more than 3 billion miles to reach Pluto. It's the first mission for any nation to Pluto and its five moons. 

The mission completes what NASA calls its initial reconnaissance of the classical solar system. The space agency has now sent probes to Mercury, Venus, Mars, Jupiter, Saturn, Uranus, Neptune, and Pluto.

Re-launch of Internet SHOP

I am pleased to announce the re-launch of the Internet SHOP where you can buy PDF and hard copy of books written by Tan Kin Lian and other products.

As a special offer, the handling fee of $3 is waived during the promotion period. Some of the items are offered FREE.  Hurry. Order now!

www.c-pearl.com/shop

To Singapore with Love

From Dr. Tommy Wong
Why is ‘exile’ DVD not allowed to be sold in S’pore?
http://www.tremeritus.com/…/why-is-exile-dvd-not-allowed-t…/





REPLY

It probably contained something sensitive to the Singapore leaders.

Feedback from customers

This webpage shows the number of feedback given by consumers to the service organizations in Singapore, i.e. the telephone operators, transport operators, banks, insurance companies, airlines, etc.

To view the actual scores, you have to register and give 5 feedback. You can also win a book prize - Practical Guide to Financial Planning ($12).

http://sg-pulse.com/show_resp.aspx

Feedback on quality of service

Login to this website (sg-pulse.com) and give your feedback on 5 organizations in Singapore, e.g. insurance, bank, telco, transport, government agency. Be among the first 100 to make this submission and win a book on "Financial Planninig - A Practical Guide (worth $12)". Act now.
sg-pulse.com

Think like an entrepreneur

Many people have the mindset that something has to be right or wrong, black or white. They cannot understand that it could be neither right nor wrong, or that it could be different shades of grey.

Where does this mindset come from? Could it be due to the education system? To the way that answers are marked? I have seen anecdotes that there is only one correct answer to a particular question and all other answers are wrong!

This mindset also aims to be correct all the time, i.e. to get 100 marks. Any mistake will cause the mark to be reduced.

To avoid making a mistake, most people will not take a decision when the correct answer is not given. They will only decided when the correct answer has been spelled out clearly in a SOP (standard operating procedure). If the issue is uncertain, they prefer to avoid any decision, in case they are found to be "wrong".

A different mindset

I wish to explain a different mindset - that of an entrepreneur. The entrepreneur knows that he (or she) can make a profit only when he makes a sale. It is possible to make a loss as well. His goal is to make more profit than a loss, so that there is a net gain. If he does not make any sale, he will suffer a loss due to the fixed expenses. So, the entrepreneur makes many sales (or decisions) and hope that those that turn out to be right will outweigh those that are wrong.

This entrepreneurial mindset can come to handling uncertain decisions. These decisions have to be taken. If more decisions turn out to be right, compared to those that are wrong, the decision maker is doing a good job. He does not let the opportunities pass by him.

We need to have an entrepreneurial mindset to make progress. This is to be applied not only to business decisions, but also to the social issues that need to be addressed in government.

Comparison of salary of a graduate and an apprentice after four years

A human resource manager in Switzerland gave this useful information:

- After 4 years of apprenticeship and attending school part time, the salary is approx. 5'400 Swiss Francs per month.

- A graduate after 4 years at the university get's a starting salary of approx. 6'200 Swiss Francs per month.

The difference in pay is 13%.

Four wasted years

I visited my dentist and spoke to the dental assistant who came from the Philippines.

Me - How long have you worked here?
Asst - I joined a few months ago
Me - Do you have a degree?
Asst - Yes. I got a degree.
Me - was it in dentistry?
Asst - No. I graduated with a degree in diplomacy and worked for 1 years in the government service. Later, I came to Singapore and got this job as a dental assistant.
Me - How long did it take for you to get the training to be a dental assistant.
Asst - I was trained for three months in this practice.
Me - Would it have been better for you, if you have joined as a dental assistant without going for a degree in the university?
Asst - Yes. I would have acquired four years of experience, which would have made me to be a better dental assistant.

 It is rather sad to see so many young people spend four years to get a degree which is not relevant to the work that they do. They could have spent the time more usefully to learn the skills for their actual careers.

Germany and Switzerland have an apprenticeship system. They are able to prepare their people better for their final careers. Through high productivity and skills, these non-graduates can earn a salary that is almost as good as a graduate.

Service quality in Singapore - ranking?

Which organization has the best website in Singapore? The best call center? The best branch service? Head office service? Outdoor service, e.g. agents?

How do the banks, insurance companies, airlines, telephone operators, transport operators and government agencies rank in their overall service and for each touch point?

You can find out from this website, sg-pulse.com.

And here is the good news. You can win a prize - the hard copy book on "Financial Planning - A Practical Guide written by Tan Kin Lian).  Details can be found in the "Terms & Conditions". This is available only for the first 100 users. So hurry!

Lawyer willing to handle a case on a contingency fee

Dear Mr. Tan,

I shall be very happy if you can kindly help me the following.

Names of ' No win no fees " lawyers in Singapore. This is extremely important to me. I need them very BADLY.I have no money to hire lawyers, but in case I have to hire lawyers, Kindly tell me how to avoid getting high cost of lawyer's fees.

I have deposits in a bank in Singapore. Not long ago I need money, so I wrote to the bank saying that I wish to withdraw my deposits soon. The bank said that I had withdrawn the money. It is 15 years now therefore, they have destroyed all the paper works. However, my passport can proved that I was not in Singapore on the date the money was withdrawn. In the light of this, I need a good lawyer (no win no fees) to fight for me in order to get the money back soonest possible.--- May I know if the lawyer win the case, normally how do they charge me.

REPLY
I am not able to find such a lawyer for you. I don't think they will want to spend time without being paid their hourly rate.

An alternative approach for SMRT to deal with train breakdowns

Hi Mr. Tan
What would you do if you were the CEO of SMRT? You seem to have a lot of ideas. Let's hear them.

REPLY
First, I have to recognize what can and cannot be done.

The SMRT system is old and has been poorly maintained for several years. There is a serious shortage of experienced engineers who are familiar with the system. The demand for train service is excessive due to the large increase in population. Many people rely on the trains for their primary mode of transport.

There is nothing much that can be done on these fronts. I believe that the current management is doing their best according to their available resources.

My strategy is to manage the expectations of the general public, in particular, the passengers who are affected by the breakdown.

1) First, I will cap my salary at $500,000. This salary is adequate, even for a CEO with huge responsibilities. You must remember that SMRT is almost a monopoly and is not subject to the kind of market competition faced by most international and large domestic businesses.

2) If the CEO's salary is not humongous, the commuters will be more forgiving if the system breaks down once in a while. They know that it is an old system that is under heavy strain.

3) I would also take the train to work at least a few times each week. The commuters will find it nice to see the CEO and the top managers taking the train and experiencing what they have to go through daily. They will not be so demanding when things go wrong - as it must from time to time.

4) If there is a train breakdown, I would give a refund of $5 to each passenger credited back into their fare card. This should be 3 times of their normal fare. It is not enough to compensate them for the inconvenience, but it would be a good gesture. They can use the refund to take alternative transport, e.g. bus or taxi.

5) When there is a breakdown, I would alert the private bus operators and taxi drivers to be available at the stations to meet the heavy demand. The passengers can pay their own fares for the alternative transport. I would still arrange for buses to provide the alternative support. However, if the buses are not available, the passengers can still find their alternative transport.

6) I would engage engineers on a 3 year contract at a 150% to 200% of the normal salary. I will take this time to train young engineers to gain the experience in the maintenance of the train system. This will solve the temporary shortage of engineers.

If there is a major breakdown affecting 250,000 passengers, the cost to SMRT for the refund would be $1.25 million, plus the cost of arranging alternative transport. This does not happen every day. Hopefully, it will happen only once in a few years. It is not a large sum.

Ridiculous process adopted by DBS Bank

Each time I make an Internet payment using DBS Ideal 3 for corporate banking, I am reminded about the ridiculous process and wasteful practices adopted by many organizations in Singapore.

I have to go through many steps to login into my bank account - company code, user code, user PIN, security token password, code '1" and security token key.

When I make a payment, I have to approve it. The bank sends a "challenge" by SMS to my mobile phone. I have to convert the challenge to another number using their security token - enter the security password, code '3', enter the challenge and retrieve the converted number to enter into the DBS website.

If they allow me to enter the "challenge" directly without converting it into another number, I don't mind. But they insist on imposing the maximum hassle for their customers - for the dubious purpose of "enhanced security".

It is fashionable for Singaporeans to get for maximum security and zero defect without regard to cost and inconvenience. They are proud of this mindset. But, tell you what. The head of DBS information strategy is not from Singapore. He came from India. This type of "foreign talent" fits well in the Singapore environment.

I have to go through this ridiculous process for all payments, regardless of amount. This is time wasteful and totally unnecessary.

I have raised this ridiculous process with DBS several times over the past years. They don't care. They stop acknowledging my feedback. I am sure that DBS is extremely proud of their ridiculous token. It is shown here.

Claim for loss of use of a car

Dear Mr. Tan
My car was hit by a Malaysian bus months ago.My workshop made a direct claim on my behalf. The lawyer just called to say the Malaysian insurer wants a copy of my insurance policy. Have they a right? My point is I did not insure for loss of use but I am claiming from them.

REPLY
It is all right to send them a copy of your insurance policy. You can claim for loss of use of your car as you are making a third party claim against the Malaysian bus. You are not claiming for this item under your own policy.

Government will spend $1.1 billion on buses over 10 years

Is it a good idea for the government to spend $1.1 billion over 10 years to provide financial support and new buses to the bus operators?

Some members of the public felt that this is using tax payers' monies to fund profit driver bus operators. But the government said that these transport operators are losing money on the bus operations, but they make profit on their train operations and other sources.

This is one more messy issue that confronts the government and the people at large.  Who is right?

I like to answer this question by looking at the root of the problems. It is a bad idea for the transport operations to be run by commercial companies. There is a serious conflict of interest, such as shown above.

While the transport operators may claim that their bus operations are not profitable, it could be due to their accounting policies. Are they charging the operating costs fairly across all of their operations?

The other serious issue is the humongous salaries that are earned by their chief executives. Are the tax payer's monies being used to fund these salaries?

All these difficult questions come out of the operating model adopted by the Singapore government. It is a bad model. It is not transparent and not accountable. These serious issues are not properly discussed or agreed on. They are swept under the carpet.

A finance minister who is described as "Marxist"

The previous Finance Minister of Greece, Yanis Varoufakis, was described by the western media as "a Marxist".  He strongly supported the "no" result in the recent Greek referendum, which means that the people rejected the austerity measures imposed by the creditors of Greece.

Although the referendum came out in support of his position, he resigned immediately after the referendum, to make it easier for prime minister Tsipras to negotiate a deal with the creditors. Varoufakis had taken a tough stand in the previous negotiations and was strongly disliked by the creditors.

The creditors were mainly the governments and the banks in Europe. They had extended loans to Greece, presumably at high interest rates, and expected to be repaid in full. Greece wanted the creditors to offer a discounts on these loans. 

I wish now to refer to the description of Varoufakis as a Marxist. This was intended to put him in a bad light.

What is a Marxist? He is not a terrorist nor someone who advocated violence. He is someone who believed in greater equality among the people, and in asking the creditors to take a discount on the loans that they had given to Greece. The repayment of the loans in full would impose a heavy burden on the ordinary people of Greece.

Is it bad to have a Marxist as finance minister?

Shenzhen is now the fifth biggest city in the world

Some people may still think that Shenzhen is a small town in China next to Hong Kong.
Here is a surprise!
The population of Shenzhen is 15 million people! It has more people than Hong Kong (7.1 million) or Singapore (5.4 million - counting foreigners as well).
http://www.shenzhen-standard.com/2014/03/25/shenzhen-ranks-fifth-in-the-world-in-terms-of-population-density/

Drop in standards for Singapore Airlines

I spoke to a stewardess who has worked in Singapore Airlines for nearly 40 years and is due for retirement. She flew for many years to wear a purple uniform and was grounded to take up a lounge position during the later years.

Me: Has a quality of service of Singapore Airlines dropped over the years?
She: Definitely.
Me; What is the reason?
She: The younger cabin crew has a short term goal, to fly for a few years, visit places around the world, and then move to another career. They do not see a long term career in the airline.
Me: Is this phenomena affecting all airlines, or does Singapore Airlines fare worse than other airlines?
She: I think it affects Singapore Airlines more.
Me: Has the attitude of the workers changed over the years, compared to the old days?
She: Yes, younger workers are less committed.
Me: Could it be due to the change in the company policy also? In the old days, the company invest in the workers and give them prospect for a long term career. Today, the company is more short term minded. This attitude must affect the workers who also respond in a similar fashion.
She (after reflecting for a while): I think you are right. I did not think about it from this angle before.

Earthquake insurance

The New Zealand Government is reviewing its earthquake insurance scheme. It is using the actual experience of a recent earthquake in Canterbury to identify the actual problems that have been encountered and have identify practical solutions to these problems.  They have also submitted their proposals for views from the insurance industry and the public.

I like this approach. It is so refreshing and is quite different from the way that decisions are taken in Singapore. While we also seek public consultation in Singapore, I get the sense that we are not identify the actual problems. Often we are dealing with theoretical problems and finding theoretical answers.

Article

How to increase the birth rate in Singapore

The government has been trying to solve the problem of the low birth rate for three decades. They introduce one Baby package after another, but they all failed.

To solve this problem, we need a new mindset and a new approach. We have to recognize that the cost of raising children should be borne by the state, and not by the parents. The state has the money (at least in Singapore) but the parents are generally struggling financially.

What can be done? How can the state bear the cost of raising children? The answer is given in this paper.  http://c-onyx.com/page/1824

I want to emphasize that the state will be paying for raising up to two, or maybe three children, in the family. If the family wants to have more children, the parents have to bear the additional cost.

Increase in price for HDB flats is a bad idea

This is good news for early buyers but bad news for the current buyers. The doubling of price of new flats is not good for the country. It actually shows the incompetence of the government in managing the economy.

This report may gives the wrong impression that HDB flats are good investments at today's prices, and that the prices can continue to increase. This is heading for disaster.

http://www.straitstimes.com/…/bumper-profits-for-early-bto-…

Baby Bonus package has failed again

The government has been trying to improve the birth rate in Singapore for the past 30 years (since 1985). They introduced one Baby Bonus package after another. These packages have failed miserably and did not produce the intended result.

Instead of taking a new approach, they continue to repeat the same strategy. The famous scientist once define insanity as "doing the same thing over and over again and expecting different results." Our government leaders are insane, and should be sent to the Institute of Mental Health (instead of sending Amos Yee there).

Here is the news report about the latest failure
http://www.straitstimes.com/singapore/fewer-sold-on-incentives-to-start-a-family-survey

Poor service from ACRA

I submitted my company's return to ACRA more than one week ago. I received this message from ACRA today.

ACRA had been inconsiderate in the following aspects:
1. They provide a long email containing information that may or may not be relevant to me.
2. They could have checked the computer records to ensure that I have filed it, instead of giving the statement in para 6. Is the system of ACRA so outdated that they have to generate their letter so many days in advance?
3. They sent the reminder at the last minute, instead of sending it in advance.


Dear Sir/Madam

Company Registration No. : 200700231C
Company Name : TAN KIN LIAN & ASSOCIATES PTE. LTD.

1.    Our records show that the Annual General Meeting (AGM) of your company will be due on 16/08/2015.

2.    Under section 175 of the Companies Act, every company has to hold its first AGM within 18 months of its
incorporation. Thereafter, the AGM must be held once in every calendar year and not more than 15 months after the holding of the last preceding AGM.

3.    A private company may, by resolution passed in accordance with section 175A(2) of the Act, dispense with the holding of the AGM. Such a company may do anything required at an AGM by passing resolutions by written means instead. Section 197(4) of the Act requires any company without an overseas branch register to lodge the  Annual Return with ACRA within 1 month after the AGM.

4.    Section 201 of the Act also requires the directors of the company to lay before the company at its AGM its (1)
profit and loss account*, (2) balance sheet, (3) director or (4) auditor's reports (if applicable). In addition, the
profit and loss account of an unlisted company must be made up to a date not more than 6 months before the date of the AGM.

5.    If your company is not able to comply with the above requirements, and require more time to
comply, your company should apply online via Bizfile at www.bizfile.gov.sg for an extension of time. The company can check the status of application online via Bizfile under the heading "Status Enquiry". Please comply with the Act to avoid paying fines and/or court prosecution. For your convenience, we have placed the application guidelines as well as penalty and other useful information on our homepage at www.acra.gov.sg for your easy reference.

6.    As this reminder letter was generated in advance before posting, your company  may  have  filed  the  Annual
Return by the time you receive this letter.  If  your company has filed the Annual Return, thank you for your efforts to ensure timely compliance.

* Following the revision of the Financial Reporting Standard (FRS) 1 Presentation of Financial Statements, for
financial periods beginning on or after 1 January 2009, the "profit and loss account" and "balance sheet" may also be known as "Statement of Comprehensive Income" (and where applicable, "Income Statement") and "Statement of Financial Position" respectively. Please refer to Practice Direction No. 4 of 2009 for more information.

Thank You

Accounting and Corporate Regulatory Authority (ACRA)
10 Anson Road
#05-01/15 International Plaza
Singapore 079903

Similarity between the politics in Greece and in Singapoe

There is a parallel between the politics in Greece and Singapore. The Greek government and the people are struggling against the austerity program and the harsh conditions imposed by the creditors. These are the government and the financial institutions of the richer countries in Europe.

The Greek people finally voted in a new government that comprised of the leftist coalition, the Syriza. They wanted change and to get out of the old social and economic conditions that did not offer a solution to the problems faced by the people.

I see a parallel with the politics in Singapore. The people find life to be difficult, with a high cost of living, and also wanted a change to a new economic and social order. The ruling party controls the funds and power and has a strong vested interest to maintain the status quo. They are like the creditor nations of Europe. The new Greek government is like the alternative parties in Singapore that has to win over the support of the people.

Will the people in Singapore have the courage to vote for the alternative parties and to face the uncertainty ahead to get the change that they wanted and needed?

It is interesting to watch what happened to Greece during the next two weeks.

Will Greece exit the Euro?

It has been very tough for Greece to find a solution to its economic and debt problems. The bailout programs offered by the richer countries of Europe had not worked over the past years. The economic conditions had gone worse.

The Greeks voted a new government, comprising of the left wing Syriza coalition. The new government was against the austerity program imposed by other European leaders. They just called a referendum and go the support of the people in voting against the austerity program imposed by the lenders. The voting in the referendum was a surprise 61% vote in support of the government's stand.

The Greek government wanted the lenders to take a discount on the past loans that they had lent to Greece. A possible outcome is that the strong support from the referendum will strengthen the hand of the Greek government in negotiating a substantial discount with the creditors.

The alternative option is for Greece to exit the Euro currency, a situation that Europe and Greece wanted to avoid. I expect that both sides will reach a compromise on the last minute to avoid this outcome, and that both sides will agree on that discount.

http://www.bloomberg.com/news/articles/2015-07-06/greek-showdown-looms-with-europe-raising-heat-on-tsipras-ibs93ycs

Wage growth will not be disastrous

The conventional wisdom is that wage growth without productivity gain will be bad for Singapore's competitiveness. See this report:
http://www.channelnewsasia.com/news/business/singapore/singapore-could-lose/1964694.html

This is an illusion. It was spun by people with vested interest to suppress wages, starting from our government and echoed by business leaders.

The wage component of our total cost is probably quite low, compared to most other developed countries. We can afford a higher component in wage cost, without getting into trouble.

Three other components can be adjusted to allow for higher wages - rental of premises, top management salaries and shareholder profits. These components are probably much higher than other countries, and lead to an unbalanced and unsustainable structure in Singapore.

We have to accept the restructuring of our cost components. Do not be misled by people with vested interest in the status quo.

Click & Collect Service

It is a good idea for a supermarket or department store to provide a "click and collect" service. Customers can order online and collect their goods from a convenient location near their home. Delivery to their home may not work if there is nobody at home to receive the goods.

Marks & Spencer in the UK is introducing this service. Our local supermarkets can learn from their example.
https://sg.news.yahoo.com/britains-m-expand-free-click-collect-150659632--finance.html

Smart City - Japan shows the way

Singapore is building a smart nation concept. We need to learn from Japan. They adopt a more practical approach.

http://brandinsider.straitstimes.com/hitachi/building-a-smarter-singapore/

SingPass adopted a sensible approach towards enhanced security

SingPass has launched an enhanced security measure. It is explained as follows:

Users have to go to www.singpass.gov.sg and log in first to verify their details and sign up for the new SingPass. Under this system, users will log in with their username and SingPass as per usual. When they perform sensitive transactions, they will also have to input a one-time password which will be sent to their mobile phones, or generated through a token.

I like this approach of identifying which are normal transactions, where enhanced security is not required, and sensitive transactions, where a one time password is sent to the mobile phone. I find the mobile phone to be more practical, unlike the use of a bulky token.

SingPass seemed to have got it right. Well done!

Ten Most Peaceful Countries in the World

Add caption

The ten most peaceful countries in the world, starting from the top are:

1. Iceland
2. Denmark
3. Austria
4. New Zealand
5. Switzerland
6. Finland
7. Canada
8. Japan
9. Belgium
10. Norway

7 countries are in Europe, 1 in North America, 1 in Asia and 1 in Australasia.

Singapore did not make it within this list - most probably because of our high military expenditures.

http://womenosophy.com/worlds-most-peaceful-countries

Avoid useless regulations

The cost of complying with useless regulation is mind blogging. This writer identifies that the source of the regulation is America. But, in Singapore, we also have our own wasteful activities - doing paperwork that are useless and adding to the cost of doing business.

I wonder if our useless activities are also caused by the regulations that come from America. Quite likely, this is the case, but our regulators should have the guts and the independence to draw a line between what is necessary and what is not.

By enforcing a high level of compliance of useless regulations and paperwork, we are adding to the cost of doing business in Singapore.

http://www.sovereignman.com/trends/jp-morgan-private-banker-we-cant-make-money-anymore-17208/

Impact of Greece Default on Singapore's lending to IMF

Kenneth Jeyaretnam said that the Finance Minister had misled Parliament when he said that the loan to IMF does not carry any risk. If Greece defaults, the IMF will lose a lot of money and the lenders may have to take a loss.

http://sonofadud.com/…/greeces-imf-default-shows-clearly-t…/

SAF should apply judgment

Hi Mr Tan,

In the recent SEA Game, we have seen some very promising young Singapore athletes . The swimming team indeed caught my attention. Swimmers Joseph Schooling and even Quah Zheng Wen are potential Olympic medalists in the future. They need time to train and compete at highest level in the world stage to achieve their highest potential. National service seem to come in the way, as in the past. I am aware that Joseph Schooling had recently being deferred. I am also aware that Mindef has always been very supportive and granted time off to such athletes.

I feel that such promising athletes should be exempted from NS and be put to focus on full time training in their field of sport. Of course, there must be strict selection. At the end of the day, if they do win a medal in the world stage or even a gold medal (maybe I am dreaming), they bring honor to Singapore.

If we are reluctant to give exemption, just let them go for a 3 month BMT to learn the basic soldiering or whatever skill and then be released for full time sport training with the national coaches. To me, that is also a form of NS.

What is your opinion on this?

Shofaran from facebook.

REPLY
I agree with you. Our SAF generals should make judgement rather than apply the "no exception rule" blindly.

Natural aristocracy was first conceived by Thomas Jefferson

PM Lee refers to a "natural aristocracy". I searched Google and found this answer:


Thomas Jefferson on the Natural Aristocracy & Its Role in the Government.

"... I agree with you that there is a natural aristocracy among men. The grounds of this are virtue and talents. There is also an artificial aristocracy founded on wealth and birth, without either virtue or talents; for with these it would belong to the first class.

The natural aristocracy I consider as the most precious gift of nature for the instruction, the trusts, and government of society. And indeed it would have been inconsistent in creation to have formed man for the social state, and not to have provided virtue and wisdom enough to manage the concerns of the society.

May we not even say that that form of government is the best which provides the most effectually for a pure selection of these natural aristoi into the offices of government? The artificial aristocracy is a mischievous ingredient in government, and provision should be made to prevent its ascendancy.

On the question, What is the best provision, you and I differ.... You think it best to put the Pseudo-aristoi into a separate chamber of legislation where they may be hindered from doing mischief by their coordinate branches, and where also they may be a protection to wealth against the Agrarian and plundering enterprises of the Majority of the people.

I think that to give them power in order to prevent them from doing mischief, is arming them for it, and increasing instead of remedying the evil. For if the coordinate branches can arrest their action, so may they of the coordinates.

Mischief may be done negatively as well as positively. Of this a cabal in the Senate of the United States has furnished many proofs. Nor do I believe them necessary to protect the wealthy; because enough of these will find their way into every branch of legislation to protect themselves. From 15 to 20 legislatures of our own, in action for 30 years past, have proved that no fears of an equalization of property are to be apprehended of them.

"I think the best remedy is exactly provided by all our constitutions, to leave the citizens the free election and separation of the aristoi from the pseudo-aristoi, of the wheat from the chaff. In some instances, wealth may corrupt, and birth blind them; but not in sufficient degree to endanger the society."

Thomas Jefferson, Letter to John Adams (1813).

Troublesome to get replies from government agencies

I received this email from CPF

Dear Employer
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Dear CPF
I suggest that you send the eROP to me by email.
It is troublesome for me to login into the CPF website to view this eROP.
Be considerate.

Why do the government continue with a wasteful practice that gives so much trouble to the business sector?

Harmful consequence of National Service

I agreed with a view posted by another person that National Service has been harmful and has led to the low birth rate in Singapore over the decades.

An idiot who attacked me personally and said that without NS, Singapore will be in big trouble. This idiot can only think in "black and white", all or nothing. I have deleted his view and banned him.

Here is my view. We need a strong military service, but that can be achieved by a professional army.

We may need conscription, but it can be done within one year, like in most countries. We should not be wasting two years full time and another 10 years of reservists duty.

We are over doing this NS obligation. Times have changed since 1965.

If that idiot expressed his view without making a personal attack, it is all right. But idiots do not know how to be polite or sensible.

Some people think that National Service has done good for them. I do not dispute their view. It is their view, and they are entitled to it. But they should not impose this view on many other people who feel that NS, full time and reservists, has been harmful to their career and family life. We need to see issues from a wider perspective.

Non life insurers lose 6% of revenue due to fraud

Non life insurers in India lose 6% of their revenue due to fraud. I believe that similar figures can be found in other countries.

This article explains about fraud in health insurance claims. It also apply to motor insurance.

Generally, the insurance companies are quite weak in managing fraud. The tools are available today for them to handle the fraud more effectively. But few insurance companies are up to date in dealing with this issue.

I quote the following examples of effective measures to handle fraud:

1) When a motorist meets with an accident, he will usually call the insurance company immediately. The hotline staff can advice him to take photos of the damaged vehicles and send them by email to the insurer immediately. This should be done before the vehicle goes to the repair shop. The insurer should have a database to store and retrieve thousands of photos efficiently.

2) Insurers struggle with bills sent by hospitals for various procedures and by repair shops for parts. They can collect the data based on past payments and find out the average price for each medical treatment or spare part. The claims staff can be alerted if any bill exceeds the average by a margin.

3) The insurers can be more pro-active in guiding their customers to the honest repair shops and hospitals. The customer can get better service quality and the insurer pay a lower price. The additional cost due to fraud is prevented.

Will the prime minister antagonize more people?

Hi Mr. Tan
PM Lee must know that at least 500 to 1,000 people, ordinary people, have contributed to Roy's legal defense fund. They are people who did not defame the PM and must have felt that Roy was speaking on their behalf.

By asking the court to impose the maximum penalty on Roy, is the PM saying to these people - yes, you can support Roy when the amount is $100k, let's see if you can continue to support him when the damages are 5 to 10 times higher!

Is the PM trying to antagonize these people as well?

REPLY
If the damages are as high as you suggest, I am sure that the prime minister will be losing more votes at the next general election. He will be making more enemies. Even the neutral bystanders will feel that things have gone too far.

It is unwise for him to ask for "maximum damages". What is he trying to prove?

A bad precedent set by our court

Many decades ago, someone said that Mr. LKY was a gangster. He sued that person and won a large amount of damage.

I felt, at that time, that it was wrong for Mr. LKY to sue his opponent or for the court to award the damages. Any thinking person who know that that statement is so ridiculous as to be ignored. Nobody would believe that Mr. LKY was a gangster.

I still hold the same view today. It is wrong for a government leader to go around suing citizens who made incredible statements  about him, because few people who be so gullible as to believe these statements anyway.

Our court had set a bad precedent by awarding a large damage to Mr. LKY. I hope that the court will reverse this bad precedent in a future case.

A bad idea for PM Lee to sue Roy Ngerng

A few people have asked me what I would do, if I were the prime minister in reacting to the statements made by Roy.

I would give my own statement on the truth of the issue and stopped the matter at that stage. I would not bother to engage in a childish quarrel out of court or in court.

I do not need to sue anybody for making false statements about me. I ignore them. Ordinary thinking people would not believe them anyway.

A reputation is protected by personal character and integrity - not by suing people or bullying people.

Bad government policies have led to these serious challenges

PM Lee has identified productivity growth, population and identity as the key challenges facing Singapore over next 50 years. I agree with his view.  Article.

However, he talked as if he was an academic researcher who has just made this discovery. He forgot that he had been in the government for over 30 years and was primarily responsible for the policies that brought Singapore to this difficult situation. 

Where were these policies?

1) He was responsible for several policies that caused Singapore to have low productivity. He introduced measures such as the Goods & Services Tax and the dozens of calibrated measures that was wasteful and unproductive and create expensive administrative work for businesses and the government agencies. Low productivity is caused, to a large extent, by the ecosystem on how business is carried out.

2) The low birth rate that led to a declining local population was caused by the high cost of living, the high cost of housing and by national service. While he was not primarily responsible for these measures, he could have played a major role to identify these problems and found effective measures to combat them. 

3) The lost identity is a result of his policies to increase the population to bring in foreigners and to grant permanent residency and citizenship to them easily. He failed to recognize that this would bring about serious problems, especially as the local population had to make a big sacrifice in serving two years full time in national service, and another ten to 15 years in reservist duty. The local born males have now described that they face a serious disadvantage in competing for jobs in Singapore against the foreigners.

Singapore will continue to face daunting challenges, if the root causes are not identified and the bad policies, that has been a cancer on our social and economic fabric is not eradicated.

Poor claim handling standards in Singapore

I have been consulted on a few occasions about rejected critical illness or medical claims. The policyholder contracts a serious illness and submits a claim. The insurance company checks with the hospital or polyclinic and found record of a previous consultation which was not declared to the insurance company. On some occasions, the consultation was made several years earlier.

The policyholder told me that they did not declare the consultation because they was not aware of its significance. They did consult the doctor who assured them that the medical condition was not serious. It could be a borderline hypertension, but the doctor felt that it was not necessary to go on medication. This non-declaration, even though it was not intended, has often led to a rejection of the claim.

In many cases, the rejection was unjustified. However, it seemed to be a practice for the claim officer to look for a reason to reject a claim, and the alleged non-disclosure was a convenient reason.

Under the life or general insurance policy, there is usually a non-dispute clause. This clause states that the insurance company cannot dispute a claim on grounds of non-disclosure after a lapse of one or two years from the issue of the policy, "except in the case of fraud". Some claim officers argue that non-disclosure is fraudulent. They are mistaken. If challenged in court, they are likely to fail.

In some countries, the insurance company is more careful about disputing claims on such flimsy grounds, as they might be sued for punitive damages for their bad behavior or unreasonable rejection of claims. The actions are usually taken by the authority, acting in the interest of consumers, or by lawyers working on "success fee" basis - i.e. they lawyer do not charge any fee if they failed to get compensation for the victim. Unfortunately, we do not have these practices in Singapore.

Because of the poor claim handling standards in Singapore, I often advise consumers to avoid putting too much trust in insurance companies. It is distressful to be paying a large premium to an insurance company for the "peace of mind" only to find that the insurance company had rejected a claim unfairly.

For critical illness and medical fees, I prefer to rely on personal savings, rather than pay a large premium for an uncertain cover.  I advise buying personal accident insurance to cover accidents - which is usually more certain in settlement, compared to the other classes.

Low ranking of Singapore in happiness index

Alex Au has produced an excellent analysis of a survey called out by Gallops on the happiness level of 145 countries. Singapore stands at a miserable ranking of 97th, in spite of having one of the highest per capita income in the world. Something is seriously wrong with the balance of work and play in Singapore.

Here are the key findings:

Purpose, only 10 – 20% of Singapore respondents were thriving. We were nearly at the bottom compared to other countries, ranking 123 out of 145.  You could say that in general, Singaporeans didn’t like what they had to do each day, and were lacking in motivation.

Social, only 10 – 20 % of Singapore respondents were thriving. We were nearly at the bottom compared to other countries, ranking 123 out of 145. In general, we were reporting rather arid personal lives.

Financial, the picture was vastly different. Over 40% gave responses that Gallup classified as thriving. We ranked 9th out of 145 countries. The average Singaporean was a lot more financially secure than people in most other countries.

Community, we sank again. Only 20 – 30% were thriving, giving us a middling score: 72nd out of 145 countries.

Physical, we sank lowest of all. With only 10 – 20% responses classified as thriving, we ranked near the bottom: 137th out of 145 countries. It could be said that we felt our health was suffering and that we didn’t have the energy to get what we wanted done.

Overall index, Gallup ranked countries by the percentage of responses who were thriving in at least three of the five elements, indicative of a well-balanced life. In Singapore, only 12.7% were. Compared with other countries, this ranked us 97th.

This survey is consistent with what many people here feel: empty, exhausted, alienated. We’re a grumpy, stressed out and dissatisfied society.

You can read a more complete analysis here. 

Big progress on renewable energy

Here are big news on renewable energy. The key headlines are:
1. The price of solar power will continue to fall, until it becomes the cheapest form of power in a rapidly expanding number of national markets.
2. With solar power so cheap, investments will surge. Expect $3.7 trillion in solar investments between now and 2040, according to Bloomberg
3. The biggest solar revolution will take place on rooftops. High electricity prices and cheap residential battery storage will make small-scale rooftop solar ever more attractive, driving a 17-fold increase in installations.
4. Growth in demand for electricity is slowing. The reason: efficiency. To cram huge amounts of processing power into pocket-sized gadgets, engineers have had to focus on how to keep those gadgets from overheating.
5. Natural gas won't become the oft-idealized "bridge fuel" that transitions the world from coal to renewable energy.
6. The shift to renewables is happening shockingly fast, but not fast enough to prevent perilous levels of global warming.
Without additional policy action by governments, global carbon dioxide emissions from the power sector will continue to rise until 2029 and will remain 13 percent higher than today's pollution levels in 2040.
Read this Bloomberg article

Phey Yew Kok

Kenneth Jeyaretnam provides an interesting record of the questions raised in Parliament over the past years regarding the disappearance of Phey Yew Kok. Article.

No queue to top up SG50 transport voucher

I was at Ang Mo Kio Bus Interchange. I saw the ticket office and asked if they could top up my SG50 transport voucher. They referred me to a nearby counter.

Me: can I top up my Transit Link card with the SG50 voucher?
Young man: yes
Me: do I need to show a letter with my voucher
Young man: no need

He did the top-up. And you now what? There was no queue at all. I was the only person who requested for the top-up.

What happened to all the people that enjoyed queuing for hours to get the top-up? They have gone!!!

Hey! Why do they deny me the fun of queuing up for two hours to get my top-up? I am a Singaporean, and I love long queue! LOL.

What happened to PM Lee's showcase of the popularity of his SG50 package?

Two month's wait to be treated as a subsidized patient

I went to Ang Mo Kio Polyclinic to do an X ray on the growth in my foot and to receive the appropriate treatment. They found that it was an early stage of tophus, which was caused by gout. They referred me to Khoo Teck Puat Hospital.

KTP Hospital finally contacted me with an appointment. There was a gap of two months. It seemed rather long.

I have the option to be a private patient and be treated immediately. Money talks in Singapore. But, I prefer to wait and see what happens.

I suspect that they purposely lengthen the queue for subsidized patients so that more people would opt to pay and jump queue. I wonder if anyone in the Ministry of Health is looking at how the resources are being allocated between the private and subsidized patients?

Perhaps the Ministry also have a conflict of interest? They prefer more people to be private patients so that the government subsidy is reduced, and they score better in their KPI and get better bonuses?

Time to stop an unnecessary and wasteful practice

My doctor prescribed medication to treat my medical condition. The clinic assistant asked me to pay $30. I said, "charge to my grandfather". She asked, "who is he?". I showed her my Pioneer Generation Card. She had a good laugh - hahaha.

But, I still have to pay $2. The remaining $28 is deducted from "my grandfather".

Why is there a need to pay the $2 and create extra work for the clinic assistant?

Perhaps, it was due to Mr. LKY. He did say that people should pay something, however small, so that they know that "nothing is for free".

But that was perhaps 40 years ago. Times have changed. Are these additional work really necessary? The cost of workers must have gone up 10 times. Why continue with this wasteful practice?

Does our current leaders know that Mr. LKY had since departed from this world? Did they not know that we had one week of national mourning for him? It is time for a change.