Wednesday, August 03, 2016

$410,000 is a large sum of money

I am disappointed that the National Arts Council paid $410,000 in consulting fees for the design of the bin center in one of its buildings. The cost of constructing the bin center is $470,000.

I am more disappointed that the decision is being defended by the minister Grace Fu and an  explanation is being published in the government sponsored website gov.sg. According to this "official" explanation, the design is complex, but it does not explain to the lay person why it has to be so complex.

It seemed that the elites running our government is not aware that $410,000 is a lot of money. It is the lifetime earning of a low income worker in Singapore.

I consider one tenth of this sum, $41,000, to be a large sum also. I know how difficult it is for me to earn this smaller sum in consulting fees.

Do our elites know the difference between $410,000, $41,000  and $4,100? Perhaps the elites are living in the ivory tower for too long. They should come down to the real world more often and see what is really happening in the ground.



Sunday, July 31, 2016

Shape quiz was fun

I introduce the shape quiz to the people at the gala dinner table. I asked them to make the shape of a house. All the adults were stumped. They could not make it from the four pieces. It was challenging, so they refused to give up.

The puzzle finally went to a 9 year old girl at the table. I taught her the technique to solve the house and the T puzzle. She was fascinated with the puzzle. She tried to make the other pieces wihtout looking at the solution. It occupied her most of the night.

I told her father that she will be an architect one day. And she will remember who taught her how to manage the shapes.

Here is the fascinating shape quiz.
https://www.youtube.com/watch?v=aFjMHNB7qhg

Practice makes perfect

If you practice the business simulation game a few times, you will get the feel of the game. You will then be able to beat the other players who are "bots". These bots provide random inputs without considering the forecast. A real player, like you, uses the forecast to make the judgment.

When you compete with other real players, you will get the  real challenge of the game. You can decide on a strategy to beat the other players.

Why not practice now. Practice makes perfect.

http://tklcloud.com/BSG/page/1


New supply of soursop leaves

David Soh has found a new supply of soursop leaves from Indonesia. They are of better quality and fresher compared to the source from Malaysia. However, the cost is higher.

For the cancer patient, the quality is more important than the price. After all, they are already playing a lot of money for treatment.

http://www.soursopleaftea.com/cord.aspx

Saturday, July 30, 2016

A convenient way for a business to make cheque payments


Many businesses prefer to send make payments by cheques. Singapore has one of the highest usage of cheques per population among the developed countries.

Why do businesses avoid using electronic payments? Here are some reasons:

a) To make payments, they have to allow the employee to log into the online bank account. The employee can view all the entries in the bank account. The boss may not like to provide this access.

b) The online platform of the bank is difficult to navigate. It provides many functions that are hidden by layers of hyperlink. Some of the functions are confusing.

c) It is quite troublesome to log into the online bank account. The user has to provide several codes and passwords, including a 2FA token.

d) After making payment, the user has to notify the payee that the payment has been made electronically.

Due to the troublesome nature, many businesses continue to send payments by cheque.

I have developed an online portal that makes it easy for businesses to make electronic payment. It reduces the work for the staff significantly. It automatically sends out an email to inform the payee about the payment.

Watch this video. Tell me if you like it.
https://youtu.be/5ah2Rj_atg4


Best of Breed contest starts on 5 August


The Best of Breed contents will start next week on 5 August to identify the best entrepreneur.

You can practice now to stand a better chance to win the contest.

Contest detail
http://tklcloud.com/BSG/page/6

How to practice
http://tklcloud.com/BSG/video.aspx?ID=4

How to win (ask Donald Trump)
http://tklcloud.com/BSG/pdf.aspx?ID=5

Website
http://tklcloud.com/BSG
Click on Join Game

Good luck. All the best!




Thursday, July 28, 2016

Minimum salary for Employment Pass holders


I do not agree with the policy of the government to raise the minimum salary for employment pass holders.

I prefer the government to introduce a levy for EP holders and follow the practice for S-pass and work permit holders. This is a more effective measure. The levy for EP holders should be higher than for S-pass holders, but it could also be set at the same level.

The policy of increasing the minimum salary for EP holders benefit the EP holders. The employers are "forced" to pay a higher salary to them. The employers may prefer to employ EP holders for a variety of reasons - reduced job hopping, not necessary to perform SAF reservist duty, etc.

Five years ago, I interviewed a foreigner for an IT job. He asked me to declare his salary as $2,500 to meet the  "minimum salary" at that time, but to pay him a lower rate of $2,000. He said that it was a common practice for some employers to adopt this approach to save on the levy. Many of his friends were working on this type of arrangement.

I did not want to "cheat" the system. I employed him on a S-pass and paid the levy. He must have felt that I was too stupid or too law abiding.

I wonder if this practice is still happening now. What is the point of increasing the minimum salary for EP holders? It is better to introduce a levy.




BEST OF BREED Contest

Practice to be a business entrepreneur


When you train to be an airline pilot, you have to spend many hours of practice with a flight simulator. It shows you some of the common situations that may occur and allow you to practice your skill in dealing with them.

There are many more people who want to go into business compared to being an airline pilot. Is there a business simulator that can allow these people to practice what  to do when they are competing in the market?

For example:

a) What should be the pricing of their products?
b) How much should they spend on advertising?
c) What is the impact on their sales when they change the pricing and advertising expenses?
d) How much should they produce or order for next month to meet the expected sales and avoid unsold stocks?
e) What will be the impact of the pricing strategy of their competitors?

There is a business simulation game that allows the budding entrepreneur to practice making these kinds of business decisions. You can view it at www.tklcloud.com/bsg.

There is a video guide explaining how you can play the game. There is also a PDF to give you some tips on how to win the game. The simulation game is designed to be realistic, like what you would expect in real life.

You have the choice of several scenarios - such as running a motor insurance company, health insurance company, or a chocolate factory.

When you have learned the principles of pricing, advertising and capacity, you can apply them in real life, although the actual conditions may be different.

To make it more fun, we will organize a series of competitions to award the "Best of Breed" certificates. You can practice now, and stand a better chance of being the champion in the competition.





Managing the funds of GIC

A real rate of return of 4%, after deducting inflation, is an acceptable rate. However, it is also the rate that can be achieved by a low cost index fund.

I wonder what is the expense ratio of managing the funds under GIC?

http://www.channelnewsasia.com/news/singapore/dip-in-annualised-real/2991978.html?sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=1233&sc_lid=44070760&sc_uid=22K6jmHe3A

Wednesday, July 27, 2016

Competition - Business Simulation Game

This Certificate will be awarded to the winner of each game in the Business Simulation Game competition.
The winners of the Starter League games will compete in the Advanced League to win a BIGGER CERTIFICATE !!!


Practice now for the business competition

Watch this 8 minute video on the Business Simulation Game.
https://youtu.be/0HAXEEmztzc

You can go to the website and practice the game.
I will be organizing a competion and awarding a Certificate of Entrepreneurship to the winners.
It is all for the fun.

I hope you will enjoy the game and competition. It may give you some feel about what it is like to run a business in a competitive market.

You can choose one of several games, e.g. to run an insurance company or a chocolate factory.

Be a reinsurance underwriter.

It is difficult to be a reinsurance underwriter. It involves a lot of calculation and mathematics.

Here is the good news.

You can learn to be an excellent underwriter, if you have the right tools.

Watch this video to learn about the tool that you can use. And after that, you can play the simulation game to hone your skills.

Who know? You might be a good underwriter. And you might want to join the insurance industry to be an underwriter.,

http://tklcloud.com/RiCloud/video.aspx?ID=4

Tuesday, July 26, 2016

Singapore to further boost money laundering controls amid 1MDB probe


I wonder what can the banks really do? They must have a lot of transactions happening every day. Can they really know who are money laundering?

http://www.channelnewsasia.com/news/singapore/singapore-to-further/2984852.html?sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=6191&sc_lid=43987589&sc_uid=22K6jmHe3A


Submitted annual return to ACRA on 6th atttempt

I finally managed to submit my annual return to ACRA. It took me 6 attempts. This can be verified by the ACRA website and by the SingPass website. I had to sign in with my Singpass and 2FA and go through many steps on each attempt.

Three of the attempts were due to unresponsive webpages in the website. When I asked to print my return, I got a unresponsive webpage. I finally managed to get through after I changed to Internet Explorer. They did not warn me about it at the start.

I submitted the return after wasting more than 1 hour,  Their website promised only a few minutes. I still had to pay a filing fee of $60. That is exorbitant.

Thank you, PM Lee, for creating a world class civil service that knows how to make life difficult for citizens and for charging high fees.


ACRA website unresponsive


I managed to log into the ACRA BizFile to submit my annual return.

The website was complicated. It contained a lot of information that were irrelevant to me. The problem is - I do not know what is relevant and what is not, so I had to quickly learn how to ignore the irrelevant ones.

It is an interactive website. This means that there are many buttons that need to be clicked and entered. If you miss any of them, the "Submit" button will not respond. You have to search through a complicated page to learn which fields you "forgot" to enter.

I finally to the Declaration. The trouble is - I was not told about the declaration. The "Submit" throw out a page of error in the declaration page which I did not complete. I had trouble in getting a "clean" declaration page to fill in. Somehow, I managed to get it, but I did not know how it happened. I still could not enter my name as the declarant.

So, the declaration read ... I ,, director of the company, declare ....

I was given the option to preview my annual return. I opted for it to view what I was supposed to have entered. There was an option to "Print" it. Wonderful. The trouble is - the webpage hangs.

I aborted the Print and went back to submit. The webpage also hang.

I now have to log out and come back again. Thank you ACRA for wasting my time and for showing, true to colors, how inconsiderate you are (and that goes to many other government agencies). You really know how to create interactive websites that waste a lot of time of the public.

At the start of the process, the website promised me that it will take a few minutes to file an annual return. Wrong. It has already taken me 30 minutes and I have to do it all over again.






Difficult to file an annual return with ACRA website

I had to file an annual return.

I went to Bizfile at ACRA website. They asked me to enter my SingPass and request for an OTP to be sent to my mobile phone. The OTP did not arrive. I had to try 3 times. Finally, the 3 OTPs arrive close together.

I used the wrong OTP. It was rejected. I used the last OTP which arrived later and it was accepted.

It went to another page which refused to load. I waited for a few minutes before aborting the login process.

I have to try again in a few minutes time. The people in ACRA thinks that the businesses have a lot of time to waste on their website.

When will our government agencies, such as ACRA and many other agencies, be more considerate? They are really adding a big burden to the business community.




Video guide - Business Simulation Game

This video shows you how to play the business simulation game. You can learn the strategy to decide on the price, capacity and advertising to achieve the highest profit. You have to compete with other players.

Practice on this platform a few times and learn how to get the best profit.

I will organize a competion in a few days time. The player with the highest profit will win a prize.

https://www.youtube.com/watch?v=qyRgmUdf3gY&feature=youtu.be



Monday, July 25, 2016

Donald Trump is ahead of Hillary Clinton

Donald Trump is ahead of Clinton. Here are the results from the most recent polls.


Converting air lines to a ticket on SIA website


I have 60,000 air miles. I wanted to convert it to a return ticket between Singapore and London.

I visited the Singapore Airlines website. I had a lot of trouble in locating the right page to view the number of air miles required for the different class of seats. After passing through this huddle, I keyed in the departure date, return date, and other details. The website said, "Sorry, we are not able to tell you. Please call our hotline".

I had to look for a hotline number. It was another challenging task. Finally I found it. The office was closed.

I called again today. I listened to the irrelevant announcements and finally managed to talk to someone.

SIA - Mr. Tan. Do you know that you can get the information online? You can a 15% discount when you make your booking online?
TKL - Yes. But your website refused to give me the number of miles required. They asked me to call your hotline.
SIA - OK. Please hold on

The staff gave me the required information. For one way, it is 59,000 on business class and 29,000 on economy. For return, it is two times of the air miles.

A while later, I called the hotline again. Another staff answered the call.

TKL - I want to know how many air miles are required for an air ticket on premium economy.
SIA - Hold on, Mr. Tan. I will check for you.

After a few minutes:
SIA - Mr Tan. It is 7,438 air miles on premium economy.
TKL - It can't be that low. I was told that it is 29,000 air miles on economy.
SIA - Mr. Tan, my calculator showed that it was 6,761 on economy. Let me check with my supervisor. I will call you back.

If SIA staff, who does this every day, can be confused with the website, how can they expect the poor customers to know how to get the information?

The process of converting air miles to a ticket is so complicated that, in the past years, I just let the air miles expire (good for SIA profit, but bad for customer's perception).








Goodbye to a dear friend, Russell Miller

Dear Ann,

I was informed by the Secretariat of the Spirit of Enterprise that Russell had passed away.

Russell was a very dear friend. Together, we started the Spirit of Enterprise in the early part of 2000s.

Although I was the founding chairman of SOE, it was Russell who put in most of the energy, enthusiasm and hard work to build up non-profit organization.

Russell has been in close touch with me over the past years and frequently contacted me each time that he visited Singapore.

I am deeply saddened to learn that he has passed away. I will miss a very dear friend.

My deepest condolence to you and your family.

Tan Kin Lian

Sunday, July 24, 2016

Selling a life insurance policy to an investment company

Mr Tan
I saw your page about selling a life insurance policy to an investment company for a higher surrender value.

Is it legal?
Will the investment company make a big profit when the policyholder dies? Can they keep the profit?

REPLY
The sale of life insurance policy is quite common in some countries. It is legal. If not, the authoirty would have stopped it.

The investment company intends to pay the premium and collect the maturity benefit. They are not likely to know if the policyholder had died before the maturity date. If they do, they are entitled to keep the death benefit even though it is higher than the surrender value.

If the policyholder surrenders the policy to the insurance company, the policy is terminated and the insurance company will not pay any death claim.

If the policyholder sells the policy to the investment company for a higher surrender value, the policyholder can be considered as "terminated" as far as the policyholder is concerned.

If you are interested to know more about the sale of a life insurance policy, visit this website:
www.tklcloud.com/tlp







Trading in forex and indices

Dear Mr Tan,
In the past 2 years, I have been trading part-time on Forex and Indices using CFD. My record thus far is S$102,000 profits and S$117,000 loss. So net of this a loss of S$15,000. 

With this record, it makes me ponder what I may have gone wrong. After much thinking, I realised that my trading mentality may be not as strong. Therefore, I started to look out for Gurus who can help me on this. There are many Gurus out there and the fees they charged are ridiculous expensive as you know. 

However, I always believe pay peanuts get monkeys. Therefore, the fees are not the part that worries me. The part I am unsure is the credentials of these Gurus. Who are really the best and really in the game? Who really impart their knowledge to their students?

I hope you can name a few of these gurus who I can seriously consider to attend their training courses.

TKL - I do not believe that there are good gurus who can help students to develop the skill of trading. If they are really good, they can become billionaires by trading on their own.They do not need to make money from teaching their skills.

Thanks for the prompt reply Mr Tan. I read the same thing from an investment book about these courses. That's why I feel I am stuck at my current situation.

TKL - In my view, it is not possible to make a living by trading. Over the long term, you are likely to lose a large part of your capital

Saturday, July 23, 2016

The risk of trading

Dear Mr. Tan
I have attended your financial planning talk previously. Recently I took an interest in trading, having read many successful stories of Singaporeans getting rich within a short time. It does sound doubtful, moreover I have zero knowledge of trading. However I came across this article in straits times online which reads our yet another success story.

http://www.24businessnews.com/lp/rosg/haax?trkid=4961534B6F494249624C6F5F3344&utm_source=5756797&utm_content=61837126

I can't say I'm not interested. I have registered at their site 24options.com but have yet to verify the account and start trading. Their registration costs $250, and the site asks for verification photo taken of personal ID in addition to credit card details and home address and phone no. I am wary of this as I'm very new to it. I would like to seek your advice on trading. Is it advisable?

REPLY

Trading is just like gambling. Sometimes, you win, sometimes you lose. But the chance of losing is higher, as you have to pay for the expenses of the people running the trading platform.

If you trade on a platform, you also face an additional risk that the platform may "cheat" the customer, or put pressure on the customer to engage in more trading activities. You need to be sure that you are using a reliable platform. I do not know the reliability of 24options.com.

.

Obama - disappointing legacy

Mr. Tan,
I find President Obama 8 years as President to be quite disappointing. He was appointed in 2008 on a platform of change. He promised to change the way that the government worked in Washington. He promised to fix the gridlock. He received overwhelming support. The Democratic Party won over control of the House and the Senate.

He did not carry out is promise. Congress in Washington continued to be gridlocked. He was not able to pass through the reforms that he promised. His Affordable Care Act, also called Obamacare, was passed through in a watered down version. It was a big disappointment.

The mid term election in 2010 saw the Democrats lost control over the House. They lost control over the Senate in 2012.

After that, President Obama virtually did nothing. He spent the rest of his time giving speeches - he is good at that - but nothing else.

The Affordable Care Act was not great. It lead to further increase in health care cost. The Republicans all wanted to repeal the Act when they have the chance.

It is so sad that Prsident Obama did not leave behind any legacy for people to remember. During his term, there was a big increase in violence - senseless shootings and now shooting of the police officers.

What are your views?

REPLY
I agree with your assessment. I am also disappointed that he did not achieve much during his 8 years are President. Although the employment figures had improved, most of the new jobs were low paying, part time jobs. The income disparity continued to widen.

Many ordinary workers are now against the establishment. They went for Bernie Sanders and Donald Trump.



Shape Quiz Puzzle

Someone sent a message to me through WhatsApp, He is interested to buy 130 pieces of this puzzle. I gave him a sample before and he found it to be interesting. He will get a good discount for this large order.

Resilient stock markets

The US stock market is now at a record high. The fear over the UK exit from Europe is over. The UK stock market has also recovered. Looks like the global stock markets are resilient.

Learn to be an expert underwriter

Do you want to learn to be an expert underwriter working for a reinsurance company. This is a specialised job. I have simplified the process and quicken the learning pace.

Go to this website, click on the video guide and practice on the platform.
www.tklcloud.com/ricloud

if you find this exciting, click on this guide from the top reinsurance company in the world.

https://www.munichre.com/site/mram/get/documents_E96160999/mram/assetpool.mr_america/PDFs/3_Publications/reinsurance_basic_guide.pdf

All the best.



Friday, July 22, 2016

100 problems to be solved

Our elites in Singapore are excellent in identifying problems, especially exotic ones. But they are quite poor in finding solutions to the practical day to day problems.

I saw this document that identified 100 key challenges facing the financial technology industry. I was shocked - 100 problems. What has the people in charge been doing these past decades? Just sit down and worry about the problems?

Many of these problems have solutions that can be implemented immediately. But they required somone to take charge and to make the judgement.

http://www.fintechfestival.sg/

Money laundering activities

Three banks in Singapore, DBS, Standard Chartered and UBS, are cited by the Monetary Authority of Singapore for lapses in the monitoring and reporting of transactions that are suspected to be money laundering. See this report.

http://www.channelnewsasia.com/news/singapore/assets-worth-s-240m/2974676.html?sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=3935&sc_lid=43852322&sc_uid=22K6jmHe3A

I understand that banks also have to monitor transactions that are linked to "financing of terrorism".

Frankly, I do not blame the banks for these lapses. I blame the MAS.

It is easy for MAS to tell the banks to monitor and report "suspicious transactions" but what are these transactions? How are they to be identified? Does MAS take the lead in guiding the banks on this responsibility?

It is easy to know that certain people are involved in money laundering or illegal activities after the facts are known, and then trace their transactions. It is difficult to know that these people are suspects in the first place.

In their blind attempt to implement these regulations, banks have resorted to ineffective practices of spending a lot of unproductive time to monitor ordinary citizens opening bank accounts, I have to spend two hours to open two bank accounts just to place a fixed deposit. This is ridiculous.

If MAS really wants to tackle the roots of the problem and to have a more effective monitoring system, they have to take a different approach. Here are my suggestions.

a) Allow people to open bank accounts without the unnecessary hassle.
b) Require banks to ask for the reason and source of funds for transfers that exceed a threshold per transaction and for each month. These transactions are to be reported to a central database managed by MAS
c) Require banks to report transactions made by certain persons who are on a blacklist maintained by MAS in the central database. These are people who are suspected to be linked to money laundering or financing of terrorism.

This monitoring and reporting will involve the collection of large volume of transactions. MAS can implement algorithms to monitor these transactions and identify those transactions that need to further investigated.

The problem can be dealt with more effectively, if MAS takes the responsibility. Will they?



Thursday, July 21, 2016

Huge spending on transport infrastructure

Public transport infrastructure has cost the government several billion dollars. Here are some figures that come to my mind:

a) Bus Service Enhancement Program $1 billion
b) Purchase of rolling stock from SMRT - $1 billion
c) Privatization of SMRT - $1 billion
d) Satelite based ERP system - $556 million.

When it comes to new MRT lines, it is  $10 to $20 billion for each line.

$1 billion here, $1 billion here. $10 billion here. $10 billion there. We are talking of billions not  hundreds of dollars. This government spends billions as if they print money.

Actually, they print paper COE and collect billions (it is $5 billion in a year). That is a wonderful mechanism. The only problem is - it is wasteful, jacks up the cost of living and the cost of doing business.

No wonder. We are now the most expensive city in the world.

Difficult to create a PIN in Krisflyer website

Singapore Airlines has a badly designed website. I had a lot of problems with it many years ago.

Recently, I have to register a Krisflyer account for my wife. The nightmare came back again.

I went through a very painful process to register a PIN. After many steps, it showed the following CAPCHA. I could not read it. When I tried to change it, it rejected my entry.

I tried a few times. After passing through the CAPCHA, it told me that my PIN is invalid. What is happening? I was just trying to create a PIN.

After going through this painful process for half an hour, the website told me that I am locked out. I have to come back in 24 hours time.

Why does Singapore Airlines designed website that is difficult to use. It is troublesome even to create a PIN.



NOW I KNOW WHY I GOT LOST

Later, I realized how I got confused.

At the webpage, I was asked to enter the Krisflyer No, date of birth and email address for confirmation. I was then given a difficult CAPCHA.

I was then brought to another page which asked me to enter my PIN. I thought that this was the PIN that I preferred to use.

I just learned that they had sent a temporary PIN to my email address and I should be using that PIN. They should have made it clear.

I had a lot of problem with their website five years ago. I still have a lot of problem with it today.


Wednesday, July 20, 2016

CNN report on the Republican convention

Here is CNN's report on the Republican Convention. Wow!

Donald Trump claimed the mantle Tuesday as the Republican presidential nominee, capping a stunning rise to power for his insurgent campaign as a boisterous showing by his family and friends revived his convention after a rocky start.

Chris Christie, shaking off the disappointment of being passed over as Trump’s running mate, performed a show trial of Hillary Clinton, whipping the crowd into frenzied chants of “Lock her up!”

Trump’s son Donald Jr. sketched a portrait of his father as a champion of the working man who could unleash America’s potential. His half-sister Tiffany offered a more tender and less familiar view of her father.

We need a different approach to run our public services


The following qualities are required for top management to run a big organization successfully:

a) Motivation
b) Competence

Some leaders, including our Singapore leaders, thinks that the best way to motivate a top manager is through an attractive remuneration package. They think that self interest, or greed, is the best way to motivate top management. This is also the approach taken in big international corporations.

They overlook the flaw of this approach when it is exercised in a near monopolistic situation, such as the delivery of public services in a small country. It is easy to generate large profit for these businesses by taking advantage of their market power or by cutting cost to deliver a poorer quality of service, such as over packing of trainings or hospital wards.

A better approach for the delivery of public service is to find top managers who have the passion to serve the public good and the public interest. There are many capable people with this kind of motivation that can be found in any society. They are motivated by public interest, rather than personal greed.

Is it possible to find competent people who are motivated by public interest? Can they run the organizations efficiently, provide a good quality of service and keep the cost at an acceptable level?

The answer is "yes". The managers can be measured based on performance other than the maximization of profit. Most workers are measured on their ability to meet the requirements of the job, rather than the profit that are generated. The same approach can be applied to the managers of public owned corporations.

It is appropriate to apply the private sector approach for businesses that operate in a truly free market where there are many suppliers and where consumers have the ability to judge the quality of the products and services that they buy,

The big problems faced in Singapore is that our government leader adopt the private sector approach for the provision of public services that have monopoly power. They encouraged the top leaders to maximize the profits of these "private companies" and their own remuneration package, and do not realize the long term damage that has been caused.

The problem with SMRT is just an example of this flawed approach. It also applies to other sectors of the economy. It is time to rethink the approach to run these operations.

Make SMRT into a state owned corporation

Is it a good idea for Temasek to buy out SMRT and make it into a state owned company?

My view is "yes". It can be a state owned company and operate in the public interest. It will avoid the conflict of interest that is now inherent it its business model.

http://www.channelnewsasia.com/news/singapore/temasek-mulling-smrt/2965112.html?sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=3444&sc_lid=43732892&sc_uid=22K6jmHe3A

Tuesday, July 19, 2016

A complicated process to open a bank account

I visited Standard Chartered Bank to open a bank account for me and one for my wife and to place a fixed deposit on the Krisflyer promotion.

A customer relations officer spend two hours to help us through the complicated process.

The bank does not expect their customers to open the bank accounts online, as it would be too complicated. A counter service is still needed. The bank has found it necessary to provide this personal service.

Similarly, government agencies such as ACRA, Ministry of Manpower, Central Provident Fund and IRAS should offer this counter service, as their online website can be daunting.

Why should it be so complicated to open a bank account? This is a separate matter. I think that the process can be simplified considerably. The banks (and perhaps MAS regultions) are making it far too complicated.

I know that banks have to implement international regulations against money laundering, but there should be better ways to handle it rather than the complex paperwork!

Difficult to register a new company in ACRA website

A friend wanted to set up a new company. He had a lot of trouble with the ACRA website. He asked the ACRA staff if it is possible for him to visit the ACRA office and get the procedure sorted out with the help of the staff.

ACRA staff said that they have stopped the counter service after the launch of the new ACRA website.

ACRA should take note of the following:

a) Their staff handle the ACRA process every day. It is easy for them to know what to do, and is necessary, what is not necessary and what needs to be done.

b) The public is not familiar with their website and their registration process. It can be extremely painful for them to read tons of "how to do it" pages and still get lost.

c) ACRA should continue to provide the counter service for people who are not familiar with their complicated process.

I hope that ACRA and other government agencies realize that their online process can be quite difficult for the public who do not use their service regularly. They should provide an option for the public to use their staff who are familiar with their process.


High Speed Rail between Singapore and Kuala Lumpur - another step forward

Someone observed that it took three years of discussion to reach this stage of signing the Memorandum of Understanding. He observed that it was too long.

My view is that the time was not long, considering the need to do engineering studies and to estimate the cost and viability of the High Speed Rail. There was also the need to work out the respective shares to be contributed by the two countries.

Looking forward, the question is: Will this railway be feasible? I think so. In many countries in Europe, the railway is an important mode of transport.

Is budget airlines a better way to connect Singapore and Kuala Lumpur and other cities?

The asnwer is - we need both options. Where it can be connected by land and there is heavy traffic, railway makes a better option. But where it has to fly over mountains and oceans, and the traffic is light, airlines is a better option.

All the best to the Singapore KL High Speed Rail. I hope that it will soon connect to Ipoh, Penang and Bangkok.

http://www.channelnewsasia.com/news/singapore/singapore-malaysia-to/2964098.html?sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=3444&sc_lid=43732883&sc_uid=22K6jmHe3A

Monday, July 18, 2016

An excellent marketing approach


The account manager of the Job Central Portal sent an email to me, showing the details of their services.

I replied to him asking him to call me on a specific date and time. He did. We had a good chat about his services. He explained what was available that might suit my business.

I told him that I will bear him in mind when the need arises in the future.

Here are the things that he did right:

a) He sent an email (instead of interrupting me with an unexpected phone call)
b) He called me at the appointed date and time
c) He explained the services offered by the portal and identified which service might suit me.

Congratulations to the account manager and the Job Central Portal.

Many other businesses engaged telemarketers who call me without any prior appointment. Usually, the call interrupts me at my work. Often, the telemarketers are based overseas. When I hear that it is a telemarketing call, I said immediately, "Good bye" and hang up.


Sunday, July 17, 2016

Complicated bus guide

I saw this bus guide at the bus stop in Stamford Road. It is extremely complicated to read. This guide has been used for over five years. I wonder if the Land Transport Authority has received feedback about this guide?
I hope that they will change it to be simpler for the public to read.


Difficult to read the name of the bus stop


Can you try to catch the display at the front of the bus. It tells you the name of the next stop. But it is interruptted by the message "Please move to the Rear" and "Bus Stopping". I hope that SMRT will change this display to allow the passengers to see the Bus Stop No or the name of the bus stop.

Digital display - SMRT bus

There are two digital display in SMRT bus.



The front display shows "Bus Stopping" and "Next Stop (name of stop). Please move to the rear".

It is difficult to read the (name of the stop) because it is moving and is pushed off the the screen by the "Please move to the rear message". Anyway, the (name of stop) is not helpful. For example "Blick 456".

The rear display was recently installed and shows "Bus Stopping".

It will be more helpful if the display shows "Stop No XX. Bus stopping". The XX is the sequential stop number.

I hope that SMRT will take this feedback and implement a simple change. Perhaps the Land Transport Authority can encourage them to improve the sign?






Get a reasonable return on your investment

Most people get a poor return from their investment because they invest in the wrong investment. In some cases, they invested in scams.

The best way to get a reasonable return is to avoid the scams. This is how you can achieve this goal.
http://fisca.sg/event_det.aspx?id=4


How to win the business simulation game

This document explains how you can win the business simulation game.
http://tklcloud.com/BSG/pdf.aspx?ID=5
The game can be played here:
www.tklcloud.com/bsg

Saturday, July 16, 2016

Major nations led by women


The major nations may soon be led by women

Germany - Angela Merkel
Britain - Theresa May
USA - Hillary Clinton ??
China - ???
Taiwan - Tsai Ing-wen


Waiting time for green pedestrian light

I arrived at the pedestrian crossing at 6.30 pm.  The pedestrian light had just changed from green to red. I missed it by a few seconds.

I pressed for the green light again. I had expected to wait for 1 minute or longer as the light had just changed.

To my surprise, the green light came on in 30 seconds. This is a busy hour for the vehicle traffic, so this short interval was a surprise for me.

On previous occasions, I had waited for 1 to 2 minute for the green pedestrian light to appear late at night, when the vehicle traffic was light.

What is the algorithm used by the Land Transport Authority to determine the time for the green pedestrian light to appear? It does not seem to follow a "common sense" logic.

A sensible algorithm would be:
 - during busy hours, wait for 1 minute
 - during off peak hours, wait for 30 seconds.

Another sensible algorithm would be:
 - wait for 30 seconds, if the previous change was more than 1 minute away.
 - wait for 1 minute if the previous change was less than 1 minute away.

Perhaps the transport minister would kindly ask the Land Transport Authority to review the algorithm that they are not using. 

Friday, July 15, 2016

Just follow SOP, okay?

I took bus 70 and changed to bus 162 at Yio Chu Kang MRT station. I arrived a few secons late and bus 162 had left the stop. It stopped 5m at the traffic light.

I signalled to the bus driver that I wanted to board the bus.

He remembered his SOP - do not allow anybody to board the bus after it left the stop. No ifs, no buts. Just follow orders. No exception. if you make any exception and an accident happens, you lose your job. You might even go to jail.

If you follow SOP, you are safe. Don't care about the convenience of the passenger. Do not exercise any discretion, okay?

What happened?

He thought about his SOP and opened the door for me to board. The red light took 1 more minute before it turned green. He helped me to save 12 minutes of waiting time.

Thank you bus driver, for using your discretion and common sense.

A corrupt government


The American constitution was designed by the founders to ensure that power is shared by many people in different parts of the government on the principle of "checks and balances". This concept has turned out to be a nightmare. The government is grid-locked. Nothing can be decided unless there is "compromise". In many cases, the compromise is achieved through some form of "corruption".

The legislator will vote for the bill if he or his constituency gets some benefit. Or the people in the executive government will take some executive decisions if somebody that they like is benefited in some way. In some cases, the benefit is given in some hideous way and a secret way to the people who make the decision.

This is how America, in spite of being a democracy, has evolved into a corrupt form of government. To make matters worse, the corruption has now gone to the next level, where the people with the money can make large donations to fund the election of their legislators, presidents and governors who will make decisions favorable to their donors.

The system in other countries is not working as well. In many of these countries, the power is concentrated within a small number of strong leaders. They make most of the big decisions. The other people in the government are "yes-men".

The big decisions were made in a close circle, within the leader or his family or a small circle of cronies. The public does not know what how the decisions were made and who really benefited from the decisions. Usually, some members of the families or the close circles of cronies benefited most from the decisions. The people pay the price.

There is lack of transparency. The media is controlled and is not able to expose the hidden corruption.

Both extremes are bad. We need people in government who have high ethical principles and have the passion to serve the people, and not for their personal greed and personal gain.


Thursday, July 14, 2016

Will the minister come out of hiding?

I took bus 163 after 7 pm. It was dark. I could not see the landmark outside.

I was reminded about our minister in hiding. I am referring to our transport minister. He was quite communicative in the previous two ministries. After moving to transport, he had been rather quiet for many months.

He and his Land Transport Authority decided to keep quiet about the hairline cracks in the MRT trains, rather than notify the commuters. The purpose was "to prevent unnecessary panic".

He and his LTA also chose to ignore many suggestions that I had put forward over the past years for our buses to have a digital display or voice announcement of the next bus stop.

They felt that this was not necessary as the commuters had the uncanny ability to know all the landmarks along the journey, even during the dark night.

Perhaps the minister in hiding should try taking the bus at night, without his encourage of assistants to guide him every step of the way.

Waited for the second bus 163

My mobile app indicated that Bus 163 would arrive at Thomson Plaza in 12 and 14 minutes. The first bus arrived at around 12 minutes and was full. Most of the waiting passengers boarded the bus. I decided to wait for the second bus.

The second bus arrived a few minutes later and was half empty.I could have a seat and avoid the crowd.

It makes sense to wait a few minutes longer. And thanks to the LTA app that shows the time of the arriving bus.


Wednesday, July 13, 2016

DBS Bank allow crooks to withdraw a large sum of money

Hi Mr Tan,

This is another example where no numbers of layer of security token could prevent such "scams". Case in question, has the victim been able to think out of the box under stressed situation? did our supposedly safe environment gives the victim the trust to authority without the need to doubt any further? would the victim have doubts or dare question authorities or banks if she received calls posing as such? Another very sad case.

http://www.todayonline.com/singapore/young-parents-lost-about-s70000-phone-scam

MY VIEW
I am really surprised that DBS Bank could allow the crooks to withdraw $70,000 from the credit card. Something is wrong. Usually, any payment under a credit card has to be approved by the card holder before payment is made to the othe party. 


Land Transport Authority should have reported earlier

Transport Minister has now issued a statement to explain the delay in disclosure of the hardline cracks in the MRT trains. The Land Transport Authority should have disclosed it much earlier, rather than wait for the news to be reported from the Hong Kong media. By hiding the fact for some time, it has caused the public to distruct the government.

http://www.channelnewsasia.com/…/going-public…/2950576.html…

Bernie Sanders has endorsed Hillary Clinton

Sisters and Brothers,
I am writing you today to express my deep pride in the movement – the political revolution – you and I have created together over the last 15 months. When we began this historic campaign, we were considered fringe players by the political, economic and media establishment. Well, we proved them wrong.
We showed that the American people support a bold, progressive agenda that takes on the billionaire class, that fights for racial, social, economic and environmental justice and that seeks to create a government that works for all of us and not just the big campaign donors.
We mobilized over 13 million voters across the country. We won 23 Democratic primary and caucus contests. We had literally hundreds of thousands of volunteers across the country. And we showed – in a way that can change politics in America forever – that you can run a competitive national grassroots campaign without begging millionaires and billionaires for campaign contributions.
Most importantly, we elevated the critical issues facing our country – issues the establishment has pushed under the rug for too long. We focused attention on the grotesque level of income and wealth inequality in this country and the importance of breaking up the large banks who brought our economy to the brink of collapse. We exposed our horrendous trade policies, our broken criminal justice system, and our people's lack of access to affordable health care and higher education. We fought aggressively to address the crisis of climate change, the need for real comprehensive immigration reform, the importance of developing a foreign policy that values diplomacy over war, and so much more.
We have shown throughout this election that these are issues that are important to voters and that progressive solutions energize people in the fight for real change. What we have accomplished so far is historic – but our work is far from over.
This movement of ours – this political revolution – must continue. We cannot let all of the momentum we have achieved in the fight to transform America be lost. We will never stop fighting for what is right.
It is true that in terms of winning the Democratic nomination, we did come up short. But this election was never about me or any candidate. It was about the powerful coming together of millions of people to take their country back from the billionaire class. That was the strength of our campaign and it will be the strength of our movement going forward in the months and years ahead.
In the coming weeks, I will be announcing the creation of successor organizations to carry on the struggle that we have been a part of these past 15 months. I hope you will continue to be involved in fighting to transform America. Our goal will be to advance the progressive agenda that we believe in and to elect like-minded candidates at the federal, state and local levels who are committed to accomplishing our goals.
In terms of the presidential election this November, there is no doubt that the election of Donald Trump as president would be a devastating blow to all that we are fighting for. His openly bigoted and pro-billionaire campaign could precipitate the same decades-long rightward shift in American politics that happened after the election of Ronald Reagan in 1980. That rightward shift after Reagan’s election infected not just politics as a whole but led to the ascendancy of the corporatist wing of the Democratic Party – an era from which we are still recovering.
I cannot in good conscience let that happen.
To have all of the work we have done in elevating our progressive ideals be dashed away by a complete Republican takeover of Washington – a takeover headed by a candidate that demonizes Latinos, Muslims, women, African Americans, veterans, and others – would be unthinkable.
Today, I endorsed Hillary Clinton to be our next president. I know that some of you will be disappointed with that decision. But I believe that, at this moment, our country, our values, and our common vision for a transformed America, are best served by the defeat of Donald Trump and the election of Hillary Clinton.
You should know that in the weeks since the last primary, both campaigns have worked together in good faith to bridge some of the policy issues that divided us during the election. Did we come to agreement on everything? Of course not. But we made important steps forward.
Hillary Clinton released a debt free college plan that we developed together which now includes free tuition at public colleges and universities for working families. This was a major part of our campaign’s agenda and a proposal that, if enacted into law, would revolutionize higher education in this country.
Secretary Clinton has also publicly committed to massive investments in health care for communities across this country that will increase primary care, including mental health care, dental care, and low-cost prescription drug access for an additional 25 million people. Importantly, she has also endorsed the enactment of a so-called public option to allow everyone in this country to participate in a public insurance program. This idea was killed by the insurance industry during consideration of President Obama’s health care program.
During the Democratic platform proceedings in St. Louis and Orlando, we were victorious in including amendments to make it a clear priority of the Democratic Party to fight for a $15 an hour federal minimum wage, expand Social Security, abolish the death penalty, put a price on carbon, establish a path toward the legalization of marijuana, enact major criminal justice reforms, pass comprehensive immigration reform, end for-profit prisons and detention facilities, break up too-big-to-fail banks and create a 21st century Glass-Steagall Act, close loopholes that allow big companies to avoid taxes by stashing their cash in offshore tax havens and use that revenue to rebuild America, approve the most expansive agenda ever for protecting Native American rights and so much more.
All of these progressive policies were at the heart of our campaign. The truth is our movement is responsible for the most progressive Democratic platform in the history of our country. All of that is the direct result of the work that our members of the platform committee did in the meetings and that you have been doing over the last 15 months.
But none of these initiatives will happen if we do not elect a Democratic president in November. None! In fact, we will go backward. We must elect the Democratic nominee in November and progressive Democrats up and down the ballot so that we ensure that these policy commitments can advance.
It is extremely important that we keep our movement together, that we hold public officials accountable and that we elect progressive candidates to office at the federal, state, and local level who will stand with us.
As part of that effort, we still have a tremendous amount of work left to do in the Democratic Rules Committee that will be meeting in the coming weeks. We have to enact the kinds of reforms to the Democratic Party and to the electoral process that will provide us the tools to elect progressive candidates, to allow new voices and new energy into the Party, and to break up the excessive power that the economic and political elites in the Party currently have. As with our fights on the platform committee, that will only be possible if we stand together.
You should know that I intend to be actively campaigning throughout this election season to elect candidates who will stand by our agenda. I hope to see many of you at events from coast to coast.
In conclusion, I again want to express my pride in what we have accomplished together over the last year. But so much more must be done to make our vision a reality. Now more than ever our country needs our movement – our political revolution. As you have throughout this historic campaign, I ask for your ongoing support as we continue through the fall and beyond.
On a personal note, I cannot say with words how appreciative Jane and I are of the kindness, dedication and love we experienced from so many people across the country. We are deeply touched by it and will never, ever forget it.
Forever committed, forever fighting, forever forward,
Bernie Sanders


Tuesday, July 12, 2016

The secret - how to get a good return on your investment

Many people spend a lot of time and money to learn how to analyze stocks and other types of investments. They aim to increase the return on their savings.

For most people, the secret of getting a good return may come as a surprise to them!

The secret is - avoid making the bad investments and falling for investment scams.

There are many scams and bad investments that are being marketed every day. The marketing methods are sophisticated. Many of the unwary may not be aware about them.

Some of these bad products are being sold by the trusted financial institutions.

To avoid falling for this bad mistake, which has snared many people, take some time to attend this talk. It will be worth your while.

http://fisca.sg/event_det.aspx?id=4

Monday, July 11, 2016

Most people want to get  a better return on their savings and investments. They make two common mistakes.

a) Some want to study how to invest. But it does take a lot of time and effort. It is not easy to be an expert in inveting. Most people give up after a while, or after losing some of the capital in this pursuit.

b) Many resort to getting free advice from friends. The danger is that some of these advice may be conflicted. The friend may be involved in selling some financial products. They are likely to recommend these products, which are likely to offer poor value, after providing the sales incentive to the seller.

Most people actually overlooked the biggest risk in investing. They try to learn what is the best investment that they can make, but overlook to learn what are the investments that they should avoid. Many of these investments are scams that are out to cheat the unwary investor.

Many people lose a large part of their savings in investments that they should avoid. But they were not aware about it, until it is too late.

Many people have invested large sums of money in land banks, gold bars, trees and hybrids of these investments, only to lose their capital entirely.

Most people invest in life insurance policies. They did not realize that there are some good products but many bad ones. The bad product can take away as much as 40% of the accumulated savings. Instead of getting $500,000 from a lifetime of savings and investments, they get only $300,000 (after 40% is taken away).

These bad investments come back again and again in one form or another. Is the investor able to identify them and avoid them?

If you wish to avoid falling for these traps that have snared many other people, you should spend some time to learn about how to avoid them.

Register for this talk.
http://fisca.sg/event_det.aspx?id=4


Video - how to play the business simulation game

Here is a video to show you how to play the business simulation game.

The game can be accessed at


How IRAS can be more helpful


I have to file my corporate tax. I logged into the IRAS website. It was quite complicated, so I had to talk to an IRAS officer.

I searched the website for a telephone number. They have a "Contact Us" page. That was helpful.

But the page contained a few dozen categories with their telephone numbers. I searched the categories and found a number to call.

I was disappointed. It turned out to be a hotline which requires me to press one button after another and listen to many irrelevant messages before I could speak to someone.

If they want me to go through this navigation, why make me go through so many categories in their "Contact Us" page?

Before talking to someone, I have to enter my company file number, without the alphabet.

When the tax officer answered, she asked me, "Mr Tan, please give me your corporate tax number.

I replied, "Your system already asked me for it, and I have pressed the buttons. Why are you asking me again? Never mind, my corporate tax number is 1234567."

IRAS must be receiving a few thousand calls each day asking for help, Why do they have a telephone system and website that make the public waste so much time on what is not necessary? Surely, they can be more helpful to the taxpayers by removing the unnecessary steps?


Terrible experience with Pay Pal

Many years ago, the Pay Pal website worked fine. In recent years, they must have received some instructions from the Monetary Authority of Singapore to tighten their security. Since then, it has been a nightmare for me.

I just received a message that a payment received into my account requires me to confirm my email address. I clicked on the link. They asked me to enter the account password.

I have to check my notebook for the password. This password was rejected. My staff was with me. She could see that I entered the correct password.

There was a link to allow me to change the password. I clicked on the link. They asked me to enter a new password and to receive a SMS to confirm it. I did as required.

I went to the Pay Pal login page and was able to login with the new password.

I went back to the email that required me to confirm my email address. It went to another page that asked me to enter the account password. The password was rejected. This page must be defective.

But it has caused me to waste a lot of time.

Thank you Pay Pal and MAS for messing up my daily work. It is really a nightmare to handle and receive online payments in Singapore.



Sunday, July 10, 2016

The Chilcot report on the Iraq War

The Singapore government strongly supported the war in Iraq in 2003. They are now proven wrong by the Chilcot report. They need to explain their decision and poor judgment.

http://www.theonlinecitizen.com/…/singapores-iraq-policy-w…/

Friday, July 08, 2016

Sharp increase in violence

There is a sharp increase in violence around the world. A large part is due to terrorist attacks. Individuals are also carrying out violent activities on their own.

It is a matter of time before it happens in Singapore. We have to be on our guard. We have also to be prepared for the worst. This may be inevitable.

Thursday, July 07, 2016

Need to reform the legal process

I observed that a few criminal and civil cases in Singapore took a few months of hearing.
This must be extremely wasteful of resources for the prosecution, plaintiff and defendant.

Does it really need to take so long? The case may be dragged in court due to actions or failure of actions by the lawyers.

It is strange that the lawyers who caused the delay are also the parties to benefit from the process. They are able to bill their clients for the time spent. If the case drags on longer, they can send a bigger legal bill.

There is no need for the case to drag on for long. It is time for a reform of the legal process. One approach is to set a cap on the amount of legal fees for a case. If there is a cap, it is likely that the case can be settled more quickly.

The court should also play a role in refusing to allow the lawyers to keep dragging a case for such a long time. It is wasteful of the time of the judges and the court officials.

There is one more reason why the case can be resolved more quickly today, than in the past. With modern technology, it is possible for the discovery of the facts to be completed before the court hearing. The judge only need to seek clarification of the facts and can close the hearing to give their verdict.




Wednesday, July 06, 2016

How to prepare your business strategy

Here is the answer to the business strategy of the chocolate manufacture, shown in this problem.
http://www.tankinlian.com/PDF/1217

If you are Player 1, you made a profit of $77,800 during the past year. The highest profit $11,500 is made by Player 8. Both players produced and sold 357 cartons, but Player 8 made a bigger profit by charging a higher price $968 (compared to $888 charged by Player 1.

As there is good demand for the chocolate, the higher price charged by Player 8 did not affect the sales.

Lesson 1: Do not underprice your product when there is a good demand!

The price of $1,000 charged by Player 2 is too high. The sales went to Player 8,leaving an unsold stock with Player 2.

The market demand for next year is expected to be the same as this year. The cost is also expected to be the same.

A good strategy is for the players to follow the price, capacity and advertising of Player 8 because it produced the highest profit.

As the profit margin is 33%, some player may decide to reduce the price and increase the capacity. This may upset your strategy and may reduce your sale, if you price the chocolate at $968.

Lesson 2: Do not take things for granted. Be ready for a competitive and dynamic market.

Will this happen?

You will know the result, when you play the business simulation game.  The game will be ready by next week.






Tuesday, July 05, 2016

Overview of bus service

Here is an overview of bus service in Singapore. I suspect that the Minister for Transport is not aware of these summary data;

Number of distinct bus services: 375
Number of bus stops: 4,625
Number of bus stops/ service number combinations: 22,496
Average stop for each bus service = 22,496/375 = 60 (both directions) or 30 (each direction)
Average number of bus service for each stop = 22,496/4,625 = 4.8


Waste of educational resources

I spoke to a poly student who is studying an IT course. She does not like software development. She prefers to go for a marketing career.

TKL - Why did you take the IT course?
Student - My grade is poor. I cannot be accepted for a Marketing course. I can only enrol in IT.

How wasteful for the student and for Singapore!

Job Bank from MOM

Is the Job Bank operated by the Ministry of Manpower achieving its goal? Does it help workers to find jobs with local employers? Does it help the employers to find suitable locals for their jobs?

My experience has been disappointing. I have posted applications for software developers over the past three years.

Initially, I received applications from foreigners, even though I specified that I needed local employees.  In recent months, I did not get any response at all, not even from foreigners.

It is possible that our locals do not like software jobs. But, is the Job Bank helping the locals to find other jobs?

Business strategy - chocolate manufacturer

Are you good at running a business? Do you like to make and sell chocolates. Do you know how to analyze the strategies of your competitors? Do you know how to read the market trend and set the business strategy to increase your profit for the following year?

Improve your business skill

Are you good at running a business? Do you know how to analyze the strategies of your competitors? Do you know how to read the market trend and set the business strategy to increase your profit for the following year?

Monday, July 04, 2016

Reduce the number of bus services in Singapore

There are 375 bus services in Singapore. Most commuters only know a few services that they take regularly. They will be lost when it comes to taking any of the unfamiliar services, if they do not have a mobile app.

Why do we need so many bus services for a city of 700 sq km? After all, we have only 5 MRT lines and they seem to be able to cover most of Singapore.  There is a vast difference between 5 and 375. Somehow, the traffic planners do not know the difference!

it should be possible to have 50 bus services (i.e. 10 times of the MRT lines) to provide connections between all the towns in Singapore.

Within each town, the commuters can change to a feeder bus. The feeder bus can be a light bus, with 16 seats, that operates at frequent intervals - similar to the system in Hong Kong. As it has a small capacity, it does not have to travel a winding route to take up many passengers to fill up the bus. This will reduce the travelling time on the feeder service.

We need to organize Singapore into 8 regions. This requires 56 services to provide direct connection from one region to another. A region can comprise of a few towns that are closed to each other. For example, Tampines and Simei can be treated as one region. The services that serves this region can stop at a few stops in this region before travelling to another region.

Similarly, Woodlands and Sembawang can be treated as one region. Jurong East and Jurong West can be treated as one region.

For example, the bus service that travels from Ang Mo Kio to Jurong will stop at a few major stops in Ang Mo Kio and will also stop at a few major stops in Jurong. It will be easy for commuters to be familiar with these major services.

On reaching their transfer point, they can take a feeder service to their final destination.

By reducing the number of stops for the major bus services, and leaving the feeder service to the light buses, the traveling time can be reduced. This will lead to a better traveling experience.






Big bus is relatively empty

I took bus 162 to my office at 9.30 am. It was relatively empty for the journey. It was off peak but it still had to operate at a regular interval. Why?

Bus 162 also served as a feeder service between Ang Mo Kio and Bishan. It went on a winding route to pick up passengers from these two estates before making its way to the CBD.

This showed the disadvantage of our current system. We are using big buses to take a long winding route to pick up passengers along the way.

A better system is for the big buses to have fewer stops and to have smaller buses to serve as feeder buses. This is the system operated in Hong Kong.  They have a more sensible and practical approach.


Gave up smoking after a heart attack

My Malaysian friend was a heavy smoker and had been smoking for many years. I met him on a few occasions at a client's office. When I needed to discuss a matter with him, he is often not available. I learned that he had went outside to have a smoke.

Recently, he could not attend the regular meeting. His boss attended on his behalf. His boss told me that my friend had a heart attack recently and had several heart bypass operations. He had to recuperate for a month at least.

My friend had an "open heart" surgery. This required the ribs covering his heart to be sawed off for the operation to be carried out. After that, the ribs had to be screwed back.

It seemed like a very painful procedure. I had suffered a few fractured ribs from a fall, so I could realize how painful it would have been.

My friend had since recovered and is back at work. He has given up smoking entirely.

Time required to set up a business

A new stall operated at Midview City Canteen. It was operated by two young persons and offered chicken cutlet for $6.50., Their business was poor. I tried to help them by patronizing the stall with a few colleagues a few times.

Sadly, they did not make it. A sign appeared at the stall last week, "Sorry, we are closed". It does take a few months for a business to be established. But they probably could not last that long.

There were a few other stalls selling meals at around the same price - the Muslim stall and the Indian stall. Their prices are also higher than the other stalls that offer $3.50 and $4 meals. They could survive, because they had been operating for a few years.




Opt for smaller flats, like Hong Kong

Dear Mr. Tan
You have mentioned a few times in your blog about the wastefulness that is found in Singapore. I like to add my views.

Both Hong Kong and Singapore have the highest property prices in the world. In Hong Kong, the people live in small apartments. But in Singapore, they want to live in big apartments. Can the Singaporeans really afford to pay the high prices for big apartments? Should they be like Hong Kong people who accept smaller spaces?

REPLY
Singaporeans were used to cheap HDB flats. That make them want to own bigger flats.

Although the prices are now so much more expensive, they think that property is a good investment. They do not mind paying the high price, because they can get back their investment and a profit when they sell the flats in the future.

The equation will change when the property prices stop rising. The owners will then realize that property is not an investment, but it is a cost of living. Should they continue to pay the high mortgages as a cost of living?

The day of reckoning will come. Our property prices have reached its peak. It cannot go up further. At best, it can remain stable. In the worst case, it could collapse.

When Singaporeans realize that the high property prices is a cost of living, they will look at their financial commitments differently. They will then opt for smaller flats. This is the case in Hong Kong.




Get ready for the next collective sale

Hi Tan Kim Lian,
My name is .... and me and my husband are owners of #.... in Thomson View Condominium.
We live in the US in New Jersey.
We just found out by accident that there is a proposal for collective sale for our condominium and are surprised that we have not been contacted.
We would appreciate it if you could get in touch with us directly and let us know the details of the proposal.


REPLY
Dear .....

You can register here.
http://tklcloud.com/colsale/register.aspx?ID=2142

Right now, I am collecting the particulars of those who are interested. It has been a slow process. I do not have the contacts of the owners who are living outside of the condominium.

Vote against the establishment

The decision by British voters to lead the European Union during the referendum was a vote against the establishment and the elites in power.

The voting results in Australia refelct a similar outcome - a vote against the etablishment.

In the November general election in America, we can also expect a similar results - a president Donald Trump. Hillary Clinton represents "the establishment". She will suffer a similar backlash.


Sunday, July 03, 2016

SCMP: Singapore has a poor investment record


Taiwan comes in pretty much at what you might expect, a net primary income surplus running at 3.3 per cent of GDP. But in Singapore the figures are negative. Singapore shows a consistent primary income deficit running at 4.4 per cent of GDP.
There are two reasons it has happened. The first is that Taiwanese investors own Taiwan’s industrial base but Singapore’s is predominantly owned by foreigners. These people have done very well. “Thank you, Singapore,” they say and then they take the money they made in Singapore back home.
The second reason is that the Singapore government itself has a poor investment record with the consistently big fiscal surpluses it generates.
But it all comes down to one big reason. Singapore used to be an entrepreneurial place. It is now a nation of bureaucrats. The foolish thing about this is that bureaucrats easily fool themselves that they are good at business. And here is the wisdom: Wake up and smell the coffee, fellows.

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