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www.wisdomofthecrowd.sg
www.wisdomofthecrowd.sg
Monday, February 05, 2018
Asian countries want to tax online transactions
A few Asian countries are studying how to tax the online transactions. Singapore is one of them.
The online transactions are eroding the tax that is being collected by these countries through GST and sales tax. As e-commerce grows the tax earned from this source is being eroded.
The online transactions are also threatening the retail stores in these countries. Many retail stores cannot continue in business and have to close down. It has already happened in a large scale. Many malls are empty. It will get worse.
Can these governments and their bureaucrats find a solution to introduce a tax on online transactions? It will be very difficult. it will be challenging.
I am not aware of any country that has introduced this tax successfully. Can you name them?
Even if the governments can introduce a tax on online transactions, there are so many ways that it can be avoided. Furthermore, some of the governments will be lax in implemented the tax to encourage the e-commerce platforms to operate in their country.
I know of a solution to this challenge problem. It requires an out-of-the box approach. In the old days, the civil servants and Dr. Goh Keng Swee would have found a solution. The leaders together, probably cannot see this soution.
Guess what is my solution? It comes from common sense and observation.
The online transactions are eroding the tax that is being collected by these countries through GST and sales tax. As e-commerce grows the tax earned from this source is being eroded.
The online transactions are also threatening the retail stores in these countries. Many retail stores cannot continue in business and have to close down. It has already happened in a large scale. Many malls are empty. It will get worse.
Can these governments and their bureaucrats find a solution to introduce a tax on online transactions? It will be very difficult. it will be challenging.
I am not aware of any country that has introduced this tax successfully. Can you name them?
Even if the governments can introduce a tax on online transactions, there are so many ways that it can be avoided. Furthermore, some of the governments will be lax in implemented the tax to encourage the e-commerce platforms to operate in their country.
I know of a solution to this challenge problem. It requires an out-of-the box approach. In the old days, the civil servants and Dr. Goh Keng Swee would have found a solution. The leaders together, probably cannot see this soution.
Guess what is my solution? It comes from common sense and observation.
Enrol young people to attend the talk on financial planning
At the FISCA talk on 3 Feb, one elderly lady brought three nephews and nieces to attend the talk. One of them has started work, one is servicing full time NS and the third is still studying.
TKL - I want to thank you for encouraging the young people to attend. You will be doing them a great favor for their financial future. Why did you decide to register and pay for them?
Woman - I made a mistake in my own financial planning in the past. I do not want them to make the same mistake. I want them to learn something useful that will benefit them in the future.
What a wonderful woman. I hope that many other older people will follow her example and enrol their children, nephews and nieces.
Their kind gesture will be remembered a long time. When the young person knows how to avoid a mistake through this financial knowledge, they will be grateful to the older person who enrolled them for this talk.
TKL - I want to thank you for encouraging the young people to attend. You will be doing them a great favor for their financial future. Why did you decide to register and pay for them?
Woman - I made a mistake in my own financial planning in the past. I do not want them to make the same mistake. I want them to learn something useful that will benefit them in the future.
What a wonderful woman. I hope that many other older people will follow her example and enrol their children, nephews and nieces.
Their kind gesture will be remembered a long time. When the young person knows how to avoid a mistake through this financial knowledge, they will be grateful to the older person who enrolled them for this talk.
Sunday, February 04, 2018
Which country will contribute most towards peace and progress for the world?
I asked this question in the Wisdom of the Crowd - Which country will contribute most towards peace and progress for the world?
63% of those who voted chose China. 17% chose the European Union and 14% chose America.
The world has changed a lot. The perception of Singaporeans has changed a lot. We must not forget that China remains a communist country. Its international standing has improved significantly in recent years.
America has declined.
See the breeakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=477
63% of those who voted chose China. 17% chose the European Union and 14% chose America.
The world has changed a lot. The perception of Singaporeans has changed a lot. We must not forget that China remains a communist country. Its international standing has improved significantly in recent years.
America has declined.
See the breeakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=477
What is your reaction to PM Lee's statement that it needs more time to identify the 4G leadership?
I asked this question in The Wisdom of the Crowd - What is your reaction to PM Lee's statement that it needs more time to identify the 4G leadership?
43% of those who voted said that he is trying to stay longer in the prime minister's office. 33% said that it reflects the poor quality of the 4th generation leaders. 20% expressed disappointment at the delay.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=478
43% of those who voted said that he is trying to stay longer in the prime minister's office. 33% said that it reflects the poor quality of the 4th generation leaders. 20% expressed disappointment at the delay.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=478
What is your wish for Budget 2018
I asked this question in the Wisdom of the Crowd - What is your wish for Budget 2018
55% of those who voted chose no increase in GST. 33% asked for more funding for health care and the elderly. 12% chose financial assistance for the elderly.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=479
55% of those who voted chose no increase in GST. 33% asked for more funding for health care and the elderly. 12% chose financial assistance for the elderly.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=479
Why do some Singaporeans bash Singapore Airlines?
I asked this question in the Wisdom of the Crowd - Why do some Singaporeans bash Singapore Airlines?
46% of those who voted said that the business practice of SIA had deteriorated. 25% said that the service standard had dropped badly. The remainder are more positive towards SIA
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=480
46% of those who voted said that the business practice of SIA had deteriorated. 25% said that the service standard had dropped badly. The remainder are more positive towards SIA
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=480
Saturday, February 03, 2018
Do you expect Desmond Kuek to resign from SMRT by end March?
I asked this question in the Wisdom of the Crowd - Do you expect Desmond Kuek to resign from SMRT by end March?
52% of the people who voted said that the government will find another agency for him to head. 14% expect him to remain in SMRT.The remaining 34% expect him to resign from SMRT in 2018.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=476
52% of the people who voted said that the government will find another agency for him to head. 14% expect him to remain in SMRT.The remaining 34% expect him to resign from SMRT in 2018.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=476
What is the primary cause of flooding in recent years in Singapore?
I asked this question in The Wisdom of the Crowd - What is the primary cause of flooding in recent years in Singapore?
45% of those who voted said that it is due to lack of expertise on drainage in the relevant agency. 36% said that it is due to the infrastructure work. 17% said that it is due to the Marina Barrage.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=475
45% of those who voted said that it is due to lack of expertise on drainage in the relevant agency. 36% said that it is due to the infrastructure work. 17% said that it is due to the Marina Barrage.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=475
Do you expect a global trade war in the near future?
I asked this question in The Wisdom of the Crowd - Do you expect a global trade war in the near future?
45% of those who voted said that the trade war will escalate and the tariff will be extended to other products. 14% said that the global economy will suffer a large impact. The negative gotes accounted for 59%.
The remaining 41% said that the current tariffs are insignificant and will be withdrawn in the near future.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=473
45% of those who voted said that the trade war will escalate and the tariff will be extended to other products. 14% said that the global economy will suffer a large impact. The negative gotes accounted for 59%.
The remaining 41% said that the current tariffs are insignificant and will be withdrawn in the near future.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=473
Do you expect MAS managing director, Ravi Menon, to enter politics soon?
I asked this question in The Wisdom of the Crowd - Do you expect MAS managing director, Ravi Menon, to enter politics soon?
41% of those who voted said that it is still too early to say, as his speeches are mainly related to finance and the economy. 49% said that it is quite likely. 10% said that he is not interested in politics.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=474
41% of those who voted said that it is still too early to say, as his speeches are mainly related to finance and the economy. 49% said that it is quite likely. 10% said that he is not interested in politics.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=474
Friday, February 02, 2018
Increase allowance for full time NS men
In my presentation on 10 Feb about Budget 2018, I will talk about National Service.
I like to see the NS men allowance for full time service to be raised to $1,500 per month, i.e. closer to the market rate for a full time worker.
If the SAF has to pay a higher rate, they will look seriously into reducing the time that is needed to train the soldiers. In Switzerland, the compulsory conscription is for 8 months only. They are able to train the soldier effectively within this period. Singapore should follow this example.
It will take a longer time to train an officer. I prefer that all officers should be full time career soldiers as it is very expensive to train an officer. An officer needs to be a full time soldier to be able to do the work effectively.
We should think of the future for your young men. Some of them are our own children. Others are the children of other Singapore citizens. We should not put them at a disadvantage by holding them back for two years, and handicapping them in the competition for jobs against foreigners.
If the duration of full time National Service is reduced, they can enter the workforce or continue their tertiary education earlier.
Where to find the money for the higher allowance for full time NS men? How about cutting down on wasteful expenses, such as bin centers and new signal systems for MRT? How about adjusting the salaries of ministers and politicians? How about shortening the conscription period?
I am sure that the finance minister can figure out. That is his job for which he is very highly paid, right?
I hope that this suggestion gets your support. Your views?
I like to see the NS men allowance for full time service to be raised to $1,500 per month, i.e. closer to the market rate for a full time worker.
If the SAF has to pay a higher rate, they will look seriously into reducing the time that is needed to train the soldiers. In Switzerland, the compulsory conscription is for 8 months only. They are able to train the soldier effectively within this period. Singapore should follow this example.
It will take a longer time to train an officer. I prefer that all officers should be full time career soldiers as it is very expensive to train an officer. An officer needs to be a full time soldier to be able to do the work effectively.
We should think of the future for your young men. Some of them are our own children. Others are the children of other Singapore citizens. We should not put them at a disadvantage by holding them back for two years, and handicapping them in the competition for jobs against foreigners.
If the duration of full time National Service is reduced, they can enter the workforce or continue their tertiary education earlier.
Where to find the money for the higher allowance for full time NS men? How about cutting down on wasteful expenses, such as bin centers and new signal systems for MRT? How about adjusting the salaries of ministers and politicians? How about shortening the conscription period?
I am sure that the finance minister can figure out. That is his job for which he is very highly paid, right?
I hope that this suggestion gets your support. Your views?
Thursday, February 01, 2018
Selective prosecution looks bad for Singapore
I met someone at the SDP Kook out party.
TKL - What is your name?
Him - I am Jonathan.
TKL - Your occupation?
Him - Social worker
TKL - You look familiar. Are you the guy who is being charged for organising a silent protest up a MRT train?
Him - Yes, that's me.
TKL - I remembered you had a strange name - like Jolovan Wham?
Him - Yes, that's me.
TKL - You said Jonathan?
Him - My father wanted to call me Jonathan. But he could not speak English well. So, the registration staff wrote Jolovan.
Okay, he is a report about Jolovan Wham. It is ridiculous that a silent protest is also against the law. Right?
For the vandalism charge? He put up two notices about the silent protest and removed it. And he is still being charged.
How many people put up notices at bus stops on their tuition service or renting a room. Should they also be charged for vandalism? The selective prosecution looks bad for justice in Singapore.
http://www.straitstimes.com/singapore/courts-crime/civil-activist-jolovan-wham-charged-in-court
TKL - What is your name?
Him - I am Jonathan.
TKL - Your occupation?
Him - Social worker
TKL - You look familiar. Are you the guy who is being charged for organising a silent protest up a MRT train?
Him - Yes, that's me.
TKL - I remembered you had a strange name - like Jolovan Wham?
Him - Yes, that's me.
TKL - You said Jonathan?
Him - My father wanted to call me Jonathan. But he could not speak English well. So, the registration staff wrote Jolovan.
Okay, he is a report about Jolovan Wham. It is ridiculous that a silent protest is also against the law. Right?
For the vandalism charge? He put up two notices about the silent protest and removed it. And he is still being charged.
How many people put up notices at bus stops on their tuition service or renting a room. Should they also be charged for vandalism? The selective prosecution looks bad for justice in Singapore.
http://www.straitstimes.com/singapore/courts-crime/civil-activist-jolovan-wham-charged-in-court
Display the service number inside the bus
I have been taking the bus daily for the past two years. I also take the bus to visit my doctor and to visit some other places.
I am careful to look at the number of the bus to make sure that I board the correct bus.
Does this mean that I am careful all the time - and cannot make a mistake?
No. On one or two occasions, I got up the wrong bus. It is possible to make a mistake. That is how accidents happen, right?
After boarding the bus, I found that it was making a wrong turn. I checked with the driver and found that I was on the wrong bus.
The bus number was not displayed inside the bus.
I am sure that some passengers make this mistake from time to time. They do not make this mistake every day. But it happens on some rare occasions.
Why can't the people in charge make sure that the bus contains the bus number on the inside? It is an essential piece of information.
Maybe they want to change the bus to another service, when needed. In that case, they can have a moveable display.
Can someone who is living in another city help me to check if the bus number is displayed inside the bus? Thank you.
Welcome to Singapore. It is run by idiots from the PM down.
I am careful to look at the number of the bus to make sure that I board the correct bus.
Does this mean that I am careful all the time - and cannot make a mistake?
No. On one or two occasions, I got up the wrong bus. It is possible to make a mistake. That is how accidents happen, right?
After boarding the bus, I found that it was making a wrong turn. I checked with the driver and found that I was on the wrong bus.
The bus number was not displayed inside the bus.
I am sure that some passengers make this mistake from time to time. They do not make this mistake every day. But it happens on some rare occasions.
Why can't the people in charge make sure that the bus contains the bus number on the inside? It is an essential piece of information.
Maybe they want to change the bus to another service, when needed. In that case, they can have a moveable display.
Can someone who is living in another city help me to check if the bus number is displayed inside the bus? Thank you.
Welcome to Singapore. It is run by idiots from the PM down.
Budget 2018 - Increase allowance for full time NS men to $1,500 per month
In my presentation on 10 Feb about Budget 2018, I will talk about National Service.
I like to see the NS men allowance for full time service to be raised to $1,500 per month, i.e. closer to the market rate for a full time worker.
If the SAF has to pay a higher rate, they will look seriously into reducing the time that is needed to train the soldiers. In Switzerland, the compulsory conscription is for 8 months only. They are able to train the soldier effectively within this period. Singapore should follow this example.
It will take a longer time to train an officer. I prefer that all officers should be full time career soldiers as it is very expensive to train an officer. An officer needs to be a full time soldier to be able to do the work effectively.
We should think of the future for your young men. Some of them are our own children. Others are the children of other Singapore citizens. We should not put them at a disadvantage by holding them back for two years, and handicapping them in the competition for jobs against foreigners.
If the duration of full time National Service is reduced, they can enter the workforce or continue their tertiary education earlier.
Where to find the money for the higher allowance for full time NS men? How about cutting down on wasteful expenses, such as bin centers and new signal systems for MRT? How about adjusting the salaries of ministers and politicians? How about shortening the conscription period?
I am sure that the finance minister can figure out. That is his job for which he is very highly paid, right?
I hope that this suggestion gets your support. Your views?
I like to see the NS men allowance for full time service to be raised to $1,500 per month, i.e. closer to the market rate for a full time worker.
If the SAF has to pay a higher rate, they will look seriously into reducing the time that is needed to train the soldiers. In Switzerland, the compulsory conscription is for 8 months only. They are able to train the soldier effectively within this period. Singapore should follow this example.
It will take a longer time to train an officer. I prefer that all officers should be full time career soldiers as it is very expensive to train an officer. An officer needs to be a full time soldier to be able to do the work effectively.
We should think of the future for your young men. Some of them are our own children. Others are the children of other Singapore citizens. We should not put them at a disadvantage by holding them back for two years, and handicapping them in the competition for jobs against foreigners.
If the duration of full time National Service is reduced, they can enter the workforce or continue their tertiary education earlier.
Where to find the money for the higher allowance for full time NS men? How about cutting down on wasteful expenses, such as bin centers and new signal systems for MRT? How about adjusting the salaries of ministers and politicians? How about shortening the conscription period?
I am sure that the finance minister can figure out. That is his job for which he is very highly paid, right?
I hope that this suggestion gets your support. Your views?
Wednesday, January 31, 2018
Avoid dual currency investment
When I visited a bank to place a fixed deposit, the relationship manager tried to sell a dual currency investment to me. I declined. I know that this is a very bad product. I know of some people who lost hundred of thousand dollars in this investment. I wonder why it is still being sold.
What is wrong with this product?
Learn about why it is a bad product from the losses suffered by some people. They never knew what hit them, until it is too late.
http://www.fisca.sg/ArticleDisplay.aspx?ID=558
What is wrong with this product?
Learn about why it is a bad product from the losses suffered by some people. They never knew what hit them, until it is too late.
http://www.fisca.sg/ArticleDisplay.aspx?ID=558
How do you find the call centers run by large organizations in Singapore?
I asked this question in The Wisdom of the Crowd - How do you find the call centers run by large organizations in Singapore?
95% of those who voted have strong views against the current arrangement. Only 5% are positive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=470
95% of those who voted have strong views against the current arrangement. Only 5% are positive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=470
Are you optimistic about more trade with Sri Lanka?
I asked this question in The Wisdom of the Crowd - Are you optimistic about more trade with Sri Lanka?
72% of the people who voted have negative views about it for two reasons. The remaining 28% are slightly or strongly positive about this development.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=468
72% of the people who voted have negative views about it for two reasons. The remaining 28% are slightly or strongly positive about this development.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=468
Should we have younger leaders to head the 4G leadership in Singapore?
I asked this question in The Wisdom of the Crowd - Should we have younger leaders to head the 4G leadership in Singapore?
67% of the people who voted have negative reaction to this matter for two reasons. The remaining 33% are positive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=469
67% of the people who voted have negative reaction to this matter for two reasons. The remaining 33% are positive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=469
How do you find the websites of government agencies?
I asked this question in The Wisdom of the Crowd - How do you find the websites of government agencies?
69% of those who voted dislike the current organization of the websites. 31% are positive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=471
69% of those who voted dislike the current organization of the websites. 31% are positive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=471
How will you react when Chan Chun Sing takes over as prime minister.
I asked this question in The Wisdom of the Crowd - How will you react when Chan Chun Sing takes over as prime minister.
46% said that he will keep the same policies as his predecessor. 43% said that he will be worse. The remaining 11% are positive about this change.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=472
46% said that he will keep the same policies as his predecessor. 43% said that he will be worse. The remaining 11% are positive about this change.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=472
Tuesday, January 30, 2018
The first step - aim for a coalition government.
I hear this comment often - I don't like the PAP but I cannot vote for the other parties because they are fragmented and cannot form the government. Why don't the other parties get together on a combined platform?
It would be nice if there non-PAP parties could get together. But it has been difficult, very difficult.
It does not matter that they contest as separate parties. It does not matter that they cannot form an alternative government.
If no single party forms the majority, it will be necessary for some of the parties to get together to form a coalition government. The coalition will have to agree on the policies that they wish to pursue in the new government. They have to give and take.
If the PAP remains the largest party in the coalition, they will still have a large say in the policies. But it will not be a total say. They have to make concessions to get the coalition parties to agree to support them.
This would be a first step towards a change of policies. It would be good for our future. We need the government to change its policies. A coalition government is a feasible way to achieve this.
It would be nice if there non-PAP parties could get together. But it has been difficult, very difficult.
It does not matter that they contest as separate parties. It does not matter that they cannot form an alternative government.
If no single party forms the majority, it will be necessary for some of the parties to get together to form a coalition government. The coalition will have to agree on the policies that they wish to pursue in the new government. They have to give and take.
If the PAP remains the largest party in the coalition, they will still have a large say in the policies. But it will not be a total say. They have to make concessions to get the coalition parties to agree to support them.
This would be a first step towards a change of policies. It would be good for our future. We need the government to change its policies. A coalition government is a feasible way to achieve this.
Nursing homes in Johor
n 2009, health minister Khaw Boon Wan suggested that parents can be sent to nursing homes in Johor as they are more affordable.
He was severely attacked in social media for this suggestion. The issues raised were:
a) Why can't the government make nursing homes more affordable in Singapore.
He was severely attacked in social media for this suggestion. The issues raised were:
a) Why can't the government make nursing homes more affordable in Singapore.
b) Are the standards of nursing homes in Johor acceptable?
c) Does the minister expect the children to visit their parents in Johor regularly? Will the parents be forgotten?
I find the strong criticism to be unjustified. Here are my reasons.
a) The cost in Johor will be less than half of Singapore. The wages and rentals will be less costly. There is little that the government can do to reduce the cost of nursing homes in Singapore, apart from providing some subsidy.
b) It is for the customers to choose nursing homes of acceptable standards. There are good and bad nursing homes in Johor. The same applies to nursing homes in Singapore as well.
c) With mobile phones, it is easy to keep in touch with parents in Johor. It is also easy to make a visit during the off-peak hours.
The quality of life in Johor is quite good. Many Singaporeans have opted to live in Johor to enjoy the wide space and the low cost of living.
Poor Khaw BW. He has been unfairly attacked for bringing up a sensible suggestion.
I find the strong criticism to be unjustified. Here are my reasons.
a) The cost in Johor will be less than half of Singapore. The wages and rentals will be less costly. There is little that the government can do to reduce the cost of nursing homes in Singapore, apart from providing some subsidy.
b) It is for the customers to choose nursing homes of acceptable standards. There are good and bad nursing homes in Johor. The same applies to nursing homes in Singapore as well.
c) With mobile phones, it is easy to keep in touch with parents in Johor. It is also easy to make a visit during the off-peak hours.
The quality of life in Johor is quite good. Many Singaporeans have opted to live in Johor to enjoy the wide space and the low cost of living.
Poor Khaw BW. He has been unfairly attacked for bringing up a sensible suggestion.
Why did Singapore lose out to Shenzhen to host the World Tennis championship?
I asked this question in The Wisdom of the Crowd - Why did Singapore lose out to Shenzhen to host the World Tennis championship?
61% of the people who voted view this event in a negative light. The other 39% was more positive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=465
61% of the people who voted view this event in a negative light. The other 39% was more positive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=465
Will the zero value for HDB flat after 99 years impact the voting in the next general election?
I asked this question in The Wisdom of the Crowd - Will the zero value for HDB flat after 99 years impact the voting in the next general election?
Only 37% said that it will have a large impact. The remaining 63% said that it will have a moderate, small or no impact.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
Only 37% said that it will have a large impact. The remaining 63% said that it will have a moderate, small or no impact.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
Will Oon Jin Teik do well as the new Sports Hub CEO?
I asked this question in The Wisdom of the Crowd - Will Oon Jin Teik do well as the new Sports Hub CEO?
69% said that he will find the job challenging for two reasons. The remaining 31% are more positive.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
69% said that he will find the job challenging for two reasons. The remaining 31% are more positive.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
We need a simple and cost effective health care system
I wish to raise this third issue in the Budget 2018 forum being organized by Maruah.
It concerns taking care of the rising cost of health care and the aging population.
My main focus is the rising cost of health care. It hits the elderly harder, as they need more health care than younger people.
Some of the elderly cannot cope with the rising cost of living, apart from health care. This can be addressed by providing suitable jobs for them at a decent wage. I have addressed them separately.
On health care, there is already a system of subsidy in our polyclinics and private GP clinics. This helps to reduce the cost of health care to the elderly.
It can be expensive if they need hospital care. It is covered by Medishield, except for the deductible. I suggest that the deductible should be removed.
There is no need to have a deductible to discourage people from being treated in hospital. Most people go to hospital out of necessity and not of choice.
There is a perception that there a long waiting time for subsidised care in hospital. This perception result in many patients opting for private care leading to high medical charges. In many cases, there is no need to incur this higher expenses. But the patients are badly advised.
This game of pushing patients to private care also occurs in public hospitals. There is a conflict of interest within the government between taking care of the needs of the people and reducing the subsidy.
This conflict of interest should be removed.
On a broader issue, we need to find a better system than our current 3M system - medisave, medishield and medifund. It is confusing and inefficient to administer. It does not address the rising cost of health care.
We can look towards other countries for a more effective system. I suggest that we study the system in Japan.
They have an integrated single payer system. Each year, the government negotiates with all the medical providers for the fees to be charged for every medical procedure. The patient pays 30% of the cost. The remaining 70% is paid by the government or through insurance.
It is simple and cost effective. It avoids the expensive cost that patients in Singapore have to pay for private care.
We have a broken 3M system. We need to review it and find a more effective system. The system in Japan is a good model.
What are your views?
It concerns taking care of the rising cost of health care and the aging population.
My main focus is the rising cost of health care. It hits the elderly harder, as they need more health care than younger people.
Some of the elderly cannot cope with the rising cost of living, apart from health care. This can be addressed by providing suitable jobs for them at a decent wage. I have addressed them separately.
On health care, there is already a system of subsidy in our polyclinics and private GP clinics. This helps to reduce the cost of health care to the elderly.
It can be expensive if they need hospital care. It is covered by Medishield, except for the deductible. I suggest that the deductible should be removed.
There is no need to have a deductible to discourage people from being treated in hospital. Most people go to hospital out of necessity and not of choice.
There is a perception that there a long waiting time for subsidised care in hospital. This perception result in many patients opting for private care leading to high medical charges. In many cases, there is no need to incur this higher expenses. But the patients are badly advised.
This game of pushing patients to private care also occurs in public hospitals. There is a conflict of interest within the government between taking care of the needs of the people and reducing the subsidy.
This conflict of interest should be removed.
On a broader issue, we need to find a better system than our current 3M system - medisave, medishield and medifund. It is confusing and inefficient to administer. It does not address the rising cost of health care.
We can look towards other countries for a more effective system. I suggest that we study the system in Japan.
They have an integrated single payer system. Each year, the government negotiates with all the medical providers for the fees to be charged for every medical procedure. The patient pays 30% of the cost. The remaining 70% is paid by the government or through insurance.
It is simple and cost effective. It avoids the expensive cost that patients in Singapore have to pay for private care.
We have a broken 3M system. We need to review it and find a more effective system. The system in Japan is a good model.
What are your views?
Monday, January 29, 2018
Better to use one's competitive advantage
Comfort Taxis has to respond to the threat posed by Grab. They decided to have a tie up with Uber. I think that this is a strategic mistake.
Let me share my past experience. When I was appointed to head NTUC Income in 1977, I was quite inexperienced in running a big company.
But I adopted a "common sense" approach. I looked at the insurance products that were selling well by the other insurance companies, i.e. the competitors. I look at my strategic advantage - my low cost ofoperations.
I was able to "copy" the popular and successful products and offer them at a lower price. The customers were familiar with these products but they like the lower price. Many chose NTUC Income.
I did not win all the business. Some customers still like the big international insurance companies. But I managed to win enough customers for NTUC income to grow rapidly.
If I were to adopt this strategic for Comfort Taxis, I would copy what is successful with Grab. I would be able to offer lower fares - but they should be funded by the taxi company and not the taxi drivers. I would be able to win a large market share. Grab will not last long in the war of attrition.
It is important to compete based on one's competitive advantage. It is advisable to avoid introducing too many new and uncontrollable variables. It is importan to adopt the strategy of "copying" what has proved to be successful.
It is time for Comfort Taxis to reflect on this strategic approach.
Let me share my past experience. When I was appointed to head NTUC Income in 1977, I was quite inexperienced in running a big company.
But I adopted a "common sense" approach. I looked at the insurance products that were selling well by the other insurance companies, i.e. the competitors. I look at my strategic advantage - my low cost ofoperations.
I was able to "copy" the popular and successful products and offer them at a lower price. The customers were familiar with these products but they like the lower price. Many chose NTUC Income.
I did not win all the business. Some customers still like the big international insurance companies. But I managed to win enough customers for NTUC income to grow rapidly.
If I were to adopt this strategic for Comfort Taxis, I would copy what is successful with Grab. I would be able to offer lower fares - but they should be funded by the taxi company and not the taxi drivers. I would be able to win a large market share. Grab will not last long in the war of attrition.
It is important to compete based on one's competitive advantage. It is advisable to avoid introducing too many new and uncontrollable variables. It is importan to adopt the strategy of "copying" what has proved to be successful.
It is time for Comfort Taxis to reflect on this strategic approach.
Do not buy insurance based on "trust"
Someone said that he had bad experience with a past insurance claim. He has decided not to "trust" insurance.
It is better to understand insurance rather than to "trust" insurance.
Thirty years ago, insurance companies offered good life insurance products that gave insurance protection and a good return on the premiums.
The policyholders could not get a good return from other types of investments, except to invest in shares. But it was difficult and costly to invest in shares directly. The insurance company invested their savings in shares and bonds on their behalf.
Since 2000, the situation changed considerably. Insurance companies have to invest a large part of their funds in low yielding bonds. Their expenses increased sharply and take away a large part of their investment earnings. The return becomes quite bad.
It is now easier for the public to invest directly in shares or in an indexed fund. They offer superior returns compared to life insurance policies.
The public who understands this new situation avoid investing in life insurance policies. Those who continued to "trust" insurance out of ignorance have much to regret at some time in the future.
The public continued to "trust" that insurance will pay their medical claims, without understanding that the claims could be rejected due to non-disclosure or exclusions, and that the insurance companies might act unfairly in rejecting some of these claims. This blind trust, which comes out of ignorance, can come back to hit them with a big shock.
Should the public buy insurance? Yes, but it should be bought not based on "blind trust". They should know what are good insurance products to buy and what should be avoided. They must spend the time to learn about it. If they don't spend the time, it is best that they avoid insurance altogether.
Blind trust can be quite costly and financially damaging.
It is better to understand insurance rather than to "trust" insurance.
Thirty years ago, insurance companies offered good life insurance products that gave insurance protection and a good return on the premiums.
The policyholders could not get a good return from other types of investments, except to invest in shares. But it was difficult and costly to invest in shares directly. The insurance company invested their savings in shares and bonds on their behalf.
Since 2000, the situation changed considerably. Insurance companies have to invest a large part of their funds in low yielding bonds. Their expenses increased sharply and take away a large part of their investment earnings. The return becomes quite bad.
It is now easier for the public to invest directly in shares or in an indexed fund. They offer superior returns compared to life insurance policies.
The public who understands this new situation avoid investing in life insurance policies. Those who continued to "trust" insurance out of ignorance have much to regret at some time in the future.
The public continued to "trust" that insurance will pay their medical claims, without understanding that the claims could be rejected due to non-disclosure or exclusions, and that the insurance companies might act unfairly in rejecting some of these claims. This blind trust, which comes out of ignorance, can come back to hit them with a big shock.
Should the public buy insurance? Yes, but it should be bought not based on "blind trust". They should know what are good insurance products to buy and what should be avoided. They must spend the time to learn about it. If they don't spend the time, it is best that they avoid insurance altogether.
Blind trust can be quite costly and financially damaging.
What is the best way to choose our next prime minister?
I give five options. Give your vote in
www.wisdomofthecrowd.sg
www.wisdomofthecrowd.sg
Is there a better way to pick the next prime minister?
Singapore faces a dilemma. Who should be the next prime minister? How should this person be selected?
It seemed that the "informal" selection committee should be the 16 younger ministers belonging to the 4th generation. These 16 younger leaders should decide and pick from among themselves the leader who will lead them, and lead the country.
Surely these younger ministers face a conflict of interest? Some of them have their personal ambition and want the position for themselves.
Is there a better way to select a leader to lead the country?
How about opening it to all the members of Parliament of the PAP? How about allow the PAP cadres to make this choice? How about allowing the people of the country to make this choice?
It must be a bad system that the choice is to be left to a small group of people with a conflict of interest?
If the choice is made by a broader group of people, we are likely to get a better decision based on the "wisdom of the crowd" or, may a say, based on "common sense".
If the selected leader has a mandate from the people at large, he is likely to have the moral authority to lead the country and the other ministers have to take his leadership. This will avoid infighting and corrupt deal making, right?
It seemed that the "informal" selection committee should be the 16 younger ministers belonging to the 4th generation. These 16 younger leaders should decide and pick from among themselves the leader who will lead them, and lead the country.
Surely these younger ministers face a conflict of interest? Some of them have their personal ambition and want the position for themselves.
Is there a better way to select a leader to lead the country?
How about opening it to all the members of Parliament of the PAP? How about allow the PAP cadres to make this choice? How about allowing the people of the country to make this choice?
It must be a bad system that the choice is to be left to a small group of people with a conflict of interest?
If the choice is made by a broader group of people, we are likely to get a better decision based on the "wisdom of the crowd" or, may a say, based on "common sense".
If the selected leader has a mandate from the people at large, he is likely to have the moral authority to lead the country and the other ministers have to take his leadership. This will avoid infighting and corrupt deal making, right?
DBS Bank has improved its call center processes
I remembered an incident about 10 years ago. I called the call center of DBS Bank. Their process was terrible. I had to go through many layers of screening. Even their verification was quite tiresome.
I called DBS Bank this morning to report that I did not received a replacement credit card. I was pleasantly surprised. They have simplified their filtering and verification processes. The transaction went through without much hassle.
It took DBS Bank 10 years to simplify their processes. It is all right. After all, they are in Singapore and it does take time, maybe 10 years, to change the SOPs imposed by their managers who are trained under the Singapore system.
At least DBS Bank recognized the inefficiency of the old processes and took steps to change them. They deserve my compliment.
Never mind that it took them 10 years. Many other organizations in Singapore are still keeping their inefficient and tiresome processes.
I asked the call center staff for her name. She had a Filipino accent. She told me that she is Eloise and is based in Singapore (not in the Philippines). I wonder if it is true? Probably is.
I called DBS Bank this morning to report that I did not received a replacement credit card. I was pleasantly surprised. They have simplified their filtering and verification processes. The transaction went through without much hassle.
It took DBS Bank 10 years to simplify their processes. It is all right. After all, they are in Singapore and it does take time, maybe 10 years, to change the SOPs imposed by their managers who are trained under the Singapore system.
At least DBS Bank recognized the inefficiency of the old processes and took steps to change them. They deserve my compliment.
Never mind that it took them 10 years. Many other organizations in Singapore are still keeping their inefficient and tiresome processes.
I asked the call center staff for her name. She had a Filipino accent. She told me that she is Eloise and is based in Singapore (not in the Philippines). I wonder if it is true? Probably is.
Sunday, January 28, 2018
Trust in the government
Our PM front runner talk about trust in leadership at the Davos World Economic Forum. But does he realize that his own government is quite low in trust by the people?
It is so low that they have to have mainpulation, such as GRC, reserved presidential election, restrictions on free expression and assembly, to maintain their tight control over the people and their hold on power?
http://www.straitstimes.com/world/europe/delivering-results-key-to-fostering-trust-chan-chun-sing
Okay, he talked about results. What results did his government produce?
a) High cost of living
b) High stress level
c) Lowest birth rate in the world
d) High fear of the future
It is so low that they have to have mainpulation, such as GRC, reserved presidential election, restrictions on free expression and assembly, to maintain their tight control over the people and their hold on power?
http://www.straitstimes.com/world/europe/delivering-results-key-to-fostering-trust-chan-chun-sing
Okay, he talked about results. What results did his government produce?
a) High cost of living
b) High stress level
c) Lowest birth rate in the world
d) High fear of the future
Singapore has the lowest fertility rate in the world
Singapore has the lowest fertility rate among all countries in the world.
https://www.statista.com/statistics/268083/countries-with-the-lowest-fertility-rates/
This is contributed by several factors, which are the direct result of PAP economic and social policies over the past decades. I consider this "performance" to be the most damning indictement of the failure of the PAP policies.
The contributing factors are:
a) High cost of living
b) Insecurity of jobs.
c) Inadequate wages
d) National service - which delays marriage by at least 2 years
e) Reservist duty which makes employers prefer foreigners.
Here is the explanation of the fertility rate:
https://www.statista.com/statistics/268083/countries-with-the-lowest-fertility-rates/
This is contributed by several factors, which are the direct result of PAP economic and social policies over the past decades. I consider this "performance" to be the most damning indictement of the failure of the PAP policies.
The contributing factors are:
a) High cost of living
b) Insecurity of jobs.
c) Inadequate wages
d) National service - which delays marriage by at least 2 years
e) Reservist duty which makes employers prefer foreigners.
Here is the explanation of the fertility rate:
Fertility rate
The fertility rate is the average number of children born per woman of child-bearing age in a country. Usually, a woman aged between 15 and 45 is considered to be in her child-bearing years. The fertility rate of a country provides an insight into its economic state, as well as the level of health and education of its population.
The fertility rate is the average number of children born per woman of child-bearing age in a country. Usually, a woman aged between 15 and 45 is considered to be in her child-bearing years. The fertility rate of a country provides an insight into its economic state, as well as the level of health and education of its population.
Reserve certain jobs for locals
In my presentation on budget 2017, I will talk about "creating jobs for Singaporeans".
I will suggest that certain domestic jobs should be reserved only for locals - teachers, nurses, bus and train drivers, cleaners, security guards.
Some people are against this suggestion because they say that locals do not want these jobs which pay lowly.
If we do not allow foreigners to take these jobs, the pay for these jobs will have to increase to a level that will attract locals. In Australia, these jobs pay better than office jobs because a higher pay is needed to attract locals for these jobs.
The pay of bus drivers is quite attractive, but most locals do not want to commit to the strict schedule expected of a bus driver. With modern technology, it is possible to allow some flexibility to the schedules.
I will suggest that certain domestic jobs should be reserved only for locals - teachers, nurses, bus and train drivers, cleaners, security guards.
Some people are against this suggestion because they say that locals do not want these jobs which pay lowly.
If we do not allow foreigners to take these jobs, the pay for these jobs will have to increase to a level that will attract locals. In Australia, these jobs pay better than office jobs because a higher pay is needed to attract locals for these jobs.
The pay of bus drivers is quite attractive, but most locals do not want to commit to the strict schedule expected of a bus driver. With modern technology, it is possible to allow some flexibility to the schedules.
The same observation can be made for nurses.
There is a concern that the high cost of workers in these jobs will increase the cost of living. The long term impact should be not serious. As workers get high wages, it is likely that rents will take a lower share of the cost of the final product. The higher wages will be mitigated by relatively lower rents.
I will also ask that the the public sector should set an example to recruit their workers directly, rather than go through contractors. For the private sector, the practice of outsourcing should also be controlled and restricted.
Currently, outsourcing is a way to exploit workers by forcing them to accept low levels of pay. If a benchmark wage is applied to each job, the exploitation of workers will be reduced.
Do you agree?
There is a concern that the high cost of workers in these jobs will increase the cost of living. The long term impact should be not serious. As workers get high wages, it is likely that rents will take a lower share of the cost of the final product. The higher wages will be mitigated by relatively lower rents.
I will also ask that the the public sector should set an example to recruit their workers directly, rather than go through contractors. For the private sector, the practice of outsourcing should also be controlled and restricted.
Currently, outsourcing is a way to exploit workers by forcing them to accept low levels of pay. If a benchmark wage is applied to each job, the exploitation of workers will be reduced.
Do you agree?
Saturday, January 27, 2018
Risky to buy insurance through the bank counters
Dear Mr. Tan
In your talk on 3 Feb, will you touch on buying insurance products through banks. I was told that some of the products are quite bad and were wrongly sold to the bank customers.
REPLY
Yes. I will touch on this topic too. I will share some cases of bad products that have been sold to customers. In some cases, the relationship manager was recruited recently and was giving the marketing pitch taught by the trainers. They don't know that they were giving the wrong information to customers.
I will also talk about the dual currency investments. They are being sold quite actively. These are risky product, but the RMs were not aware about the risk. They think the risk is small, but it is not really the case.
There are still a few places remaining for the talk. Register now. Remember to pay for the talk by credit card or Paypal within one day. If not, the registration will be cancelled to give the place to other participants
http://www.fisca.sg/event_det.aspx?id=17
How about 0% GST?
I will be raising this point at Budget 2017 Forum.
What is the appropriate rate for GST?
It should be 0%. GST should be scrapped.
Can the government afford it?
Of course, according to IMF standard, the Singapore government runs a budget surplus of over $20 billion a year. This includes revenue from land sale.
If GST is scrapped, the government will still see a surplus.
Just imagine. If GST is scrapped, the country will enjoy the following benefit.
a) Cost of living will drop by 10% (7% from GST, 3% from wastage in computing GST, catching GST cheats, etc).
b) Cost of doing business will drop 3% - no need to account for GST, collect GST, deduct GST paid on purchases, etc.
c) No need to catch GST cheats - remember the case where some crooks were caught for the GST carousel scam? Sure, one was caught. How many of the scammers got away?
d) No need to have custom officers to harrass Singaporeans buying goods from Johor and having to pay $3 in GST - cost $100 to police it.
If there is no GST, the government should also be more product in the spending.
a) Do not spend $800,000 on a bin center.
b) Do not spend $195 million on new signal system for MRT and still have frequent breakdowns due to "signal fault".
c) Do not need to spend $X for year long RSAF celebrations.
Agree? Want to add more points to my speech?
What is the appropriate rate for GST?
It should be 0%. GST should be scrapped.
Can the government afford it?
Of course, according to IMF standard, the Singapore government runs a budget surplus of over $20 billion a year. This includes revenue from land sale.
If GST is scrapped, the government will still see a surplus.
Just imagine. If GST is scrapped, the country will enjoy the following benefit.
a) Cost of living will drop by 10% (7% from GST, 3% from wastage in computing GST, catching GST cheats, etc).
b) Cost of doing business will drop 3% - no need to account for GST, collect GST, deduct GST paid on purchases, etc.
c) No need to catch GST cheats - remember the case where some crooks were caught for the GST carousel scam? Sure, one was caught. How many of the scammers got away?
d) No need to have custom officers to harrass Singaporeans buying goods from Johor and having to pay $3 in GST - cost $100 to police it.
If there is no GST, the government should also be more product in the spending.
a) Do not spend $800,000 on a bin center.
b) Do not spend $195 million on new signal system for MRT and still have frequent breakdowns due to "signal fault".
c) Do not need to spend $X for year long RSAF celebrations.
Agree? Want to add more points to my speech?
Bad customer service from Scoot
A staff from Scoot called me back this morning in response to my online form. He helped me to complete the booking and payment.
He told me that he was responding to my online form.
TKL - If you can call me within 1 day, why did your email tell me that I may have to wait for 10 days due to "high call volume"?
I know - this is typical Singapore "kiasu" attitude. It may take forever, and it case ti does, why don't we tell the customer that they have to wait "forever" to get a reply?
TKL - Your email asked me to call the call center if the matter was urgent. i did call at 8 pm, 9 pm, 10 pm, 11 pm and midnight. On all occasions, I had to wait 15 minutes due to "high call volume" and had to give up. Do you really have high call volume every night and up to midnight?
He told me that he was responding to my online form.
TKL - If you can call me within 1 day, why did your email tell me that I may have to wait for 10 days due to "high call volume"?
I know - this is typical Singapore "kiasu" attitude. It may take forever, and it case ti does, why don't we tell the customer that they have to wait "forever" to get a reply?
TKL - Your email asked me to call the call center if the matter was urgent. i did call at 8 pm, 9 pm, 10 pm, 11 pm and midnight. On all occasions, I had to wait 15 minutes due to "high call volume" and had to give up. Do you really have high call volume every night and up to midnight?
TKL - If the payment by credit card was not successful, why was I not notified by the website? If I had overlooked the notification, why was I not given an email that the booking was not completed? If I need to know the booking reference to complete it, why was I not sent this reference?
The staff told me - "Be assured that your feedback will be given to my management.
TKL - I expect your manager to call me back on this issue. I want to know if you are really serious about this matter or it is just another hogwash.
The staff told me - "Be assured that your feedback will be given to my management.
TKL - I expect your manager to call me back on this issue. I want to know if you are really serious about this matter or it is just another hogwash.
Is it a good time to invest in the STI ETF?
Dear FISCA.
I have $30,000 after setting aside 6 months worth of my salary. I am planning to invest this $30,000 as a Lump Sum into the STI EFT through POEMS. Is this a good idea? I am a 29 year old female educator, married with no children. I already bought Personal Accident insurance.
REPLY
The STI ETF is a good long term investment.
Some people are worried that the world stock market is rather high at this time due to extremely low interest rate.
Perhaps you can invest half of the sum now and wait for 6 to 12 months before investing the balance.
I suggest that you attend this talk on Financial Plannng on 3 February.
http://www.fisca.sg/event_det.aspx?id=17
I have $30,000 after setting aside 6 months worth of my salary. I am planning to invest this $30,000 as a Lump Sum into the STI EFT through POEMS. Is this a good idea? I am a 29 year old female educator, married with no children. I already bought Personal Accident insurance.
REPLY
The STI ETF is a good long term investment.
Some people are worried that the world stock market is rather high at this time due to extremely low interest rate.
Perhaps you can invest half of the sum now and wait for 6 to 12 months before investing the balance.
I suggest that you attend this talk on Financial Plannng on 3 February.
http://www.fisca.sg/event_det.aspx?id=17
Extend the scope of medical fee benchmark
I welcome the move by the Health Minister to set up a panel to recommend the fee benchmark for common medical procedures in hospitals. (http://www.straitstimes.com/…/committee-set-up-to-recommend…)
I suggest that the benchmark should include all the tests and the pre and post-operation charges related to the medical procedure. These additional charges could add up to a significant part of the total cost of the procedure.
Perhaps the committee can also address the situation where a patient who is treated for a specific condition has to pay the charges for other conditions that are discovered during the cost of treatment. For these complicated conditions, the medical fees can be very high. The patient or the family is usually not able to decide on the medical necessity of the related treatments.
I suggest that the benchmark should include all the tests and the pre and post-operation charges related to the medical procedure. These additional charges could add up to a significant part of the total cost of the procedure.
Perhaps the committee can also address the situation where a patient who is treated for a specific condition has to pay the charges for other conditions that are discovered during the cost of treatment. For these complicated conditions, the medical fees can be very high. The patient or the family is usually not able to decide on the medical necessity of the related treatments.
A step forward under the Smart Nation initiative
During the past ten years, I have to submit several online forms each year to several government
websites, including ACRA, IRAS, MOM and SAF.
I have found it quite difficult to search the websites for the relevant online forms after I had logged into the website. I had to search through many links, some of which are hidden under other links, and had to go from one webpage to another.
My recent encounter with the NS Portal (St Trimes Forum 23 January 23018) is just an example.
It would be easier for me if the relevant agency could send to me a link to the relevant online form and the login will direct me immediately to that online form. It would save me a lot of time in wandering around a complicated website.
I have brought up this issue on several occasions to the Pro-Enterprice Panel of the Ministry of Trade
& Industry. They have conveyed my difficulty to the relevant agencies, but nothing could be done to solve the underlying problem posed by a poorly designed website.
On each occasion, I had to spend considerable time to complete an online form, which takes time away from productive business activities. I am sure that many other companies face the same issue.
Perhaps it is time for a government agency to take a look at the design of the government websites and processes, and make it easier for the business sectors to submit their
online forms in a more convenient way.
That would be a step forward under the Smart Nation initiative
websites, including ACRA, IRAS, MOM and SAF.
I have found it quite difficult to search the websites for the relevant online forms after I had logged into the website. I had to search through many links, some of which are hidden under other links, and had to go from one webpage to another.
My recent encounter with the NS Portal (St Trimes Forum 23 January 23018) is just an example.
It would be easier for me if the relevant agency could send to me a link to the relevant online form and the login will direct me immediately to that online form. It would save me a lot of time in wandering around a complicated website.
I have brought up this issue on several occasions to the Pro-Enterprice Panel of the Ministry of Trade
& Industry. They have conveyed my difficulty to the relevant agencies, but nothing could be done to solve the underlying problem posed by a poorly designed website.
On each occasion, I had to spend considerable time to complete an online form, which takes time away from productive business activities. I am sure that many other companies face the same issue.
Perhaps it is time for a government agency to take a look at the design of the government websites and processes, and make it easier for the business sectors to submit their
online forms in a more convenient way.
That would be a step forward under the Smart Nation initiative
Friday, January 26, 2018
Should the RSAF have a celebration for their 50th anniversary?
I asked this question in The Wisdom of the Crowd - Should the RSAF have a celebration for their 50th anniversary?
71% of those who voted were negative about this celebration for two reasons. the other 29% were supportive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=464
71% of those who voted were negative about this celebration for two reasons. the other 29% were supportive.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=464
Should civil servants be required to have a cooling off period before entering politics.
I asked this question in The Wisdom of the Crowd - Should civil servants be required to have a cooling off period before entering politics.
46% of those who voted said that it will not make any difference in the conduct of the civil servants. 54% said that this is a good move for two reasons.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=463
46% of those who voted said that it will not make any difference in the conduct of the civil servants. 54% said that this is a good move for two reasons.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=463
Is the Edusave Award scheme good for students?
I asked this question in The Wisdom of the Crowd - Is the Edusave Award scheme good for students?
26% of those who voted said that it encourages the students to do better in their studies. The other 74% were negative about this scheme for three reasons.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=462
26% of those who voted said that it encourages the students to do better in their studies. The other 74% were negative about this scheme for three reasons.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=462
Will UberFlash (tie up between Uber and Comfort Taxis) be successful?
I asked this question in The Wisdom of the Crowd - Will UberFlash (tie up between Uber and Comfort Taxis) be successful?
56% said that it will lead to strong competition with Grab. Only 44% said that it will help Comfort Taxis.
Overall, the assessment is not positive for Comfort Taxis.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=461
56% said that it will lead to strong competition with Grab. Only 44% said that it will help Comfort Taxis.
Overall, the assessment is not positive for Comfort Taxis.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=461
Do you expect Dr Lee Boon Yang to step down as chairman of Keppel Corp in 2018?
I asked this question in The Wisdom of the Crowd - Do you expect Dr Lee Boon Yang to step down as chairman of Keppel Corp in 2018?
53% of those who voted said that he will not step down. 44% said that he will step down for two reasons.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=460
53% of those who voted said that he will not step down. 44% said that he will step down for two reasons.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=460
Thursday, January 25, 2018
A bad landlord
Mr. X rented a stall at a food court. He wanted to give up the stall before the expiry of the tenancy period, as he the business was not viable.
The landlord told him that he would forfeit the security deposit of one month rent and also all the kitchen equipment.
Mr. X did not understand English. He showed the tenancy agreement to me.
I read the tenancy agreement. It was stated that the security deposit would be forfeited for early termination of the tenancy but did not state that the landlord had the right to keep the kitchen equipment.
It is very bad for the landlord to take advantage of an uneducated stall holder and impose unreasonable penalties beyond what was provided in the agreement.
Already, the stall holder lost a lot of money trying to set up the business. The additional loss is quite a big blow to him.
The landlord told him that he would forfeit the security deposit of one month rent and also all the kitchen equipment.
Mr. X did not understand English. He showed the tenancy agreement to me.
I read the tenancy agreement. It was stated that the security deposit would be forfeited for early termination of the tenancy but did not state that the landlord had the right to keep the kitchen equipment.
It is very bad for the landlord to take advantage of an uneducated stall holder and impose unreasonable penalties beyond what was provided in the agreement.
Already, the stall holder lost a lot of money trying to set up the business. The additional loss is quite a big blow to him.
A grateful policyholder
Several years ago, a policyholder sought my advice. She was not educated in English. An insurance agent sold to her a life insurance policy as an investment. She paid $50,000 as the premium.
On the second year, she received a notice to pay another $50,000. He asked the agent why she had to make this further payment. The agent told her to disregard the notice.
Later, she learned that the policy had no value. All the invested sum of $50,000 was forfeited by the insurance company.
She did not realize that she had bought a policy that required an annual premium of $50,000 to be paid. As she did not pay the second premium, the policy lapsed.
She complained to the insurance company about the mis-selling. The insurance company interviewed the agent and told the policyholder that she had signed a fact finding statment that she was aware of what she had bought. They rejected her claim.
The policyholder sought my help.
I helped her to write a formal letter of complaint to the insurance company. A few months later, the policyholder told me that she received back her $50,000 from the insurance company. I did not know what happened to the agent.
As a grateful appreciation, the policyholder donated $2,000 to the Financial Services Consumer Association.
On the second year, she received a notice to pay another $50,000. He asked the agent why she had to make this further payment. The agent told her to disregard the notice.
Later, she learned that the policy had no value. All the invested sum of $50,000 was forfeited by the insurance company.
She did not realize that she had bought a policy that required an annual premium of $50,000 to be paid. As she did not pay the second premium, the policy lapsed.
She complained to the insurance company about the mis-selling. The insurance company interviewed the agent and told the policyholder that she had signed a fact finding statment that she was aware of what she had bought. They rejected her claim.
The policyholder sought my help.
I helped her to write a formal letter of complaint to the insurance company. A few months later, the policyholder told me that she received back her $50,000 from the insurance company. I did not know what happened to the agent.
As a grateful appreciation, the policyholder donated $2,000 to the Financial Services Consumer Association.
Wednesday, January 24, 2018
Do you expect a global trade war in the near future?
President Trump has started to impose high tariffs on certain imports from Asia.
Give your vote in
www.wisdomofthecrowd.sg
Give your vote in
www.wisdomofthecrowd.sg
Tuesday, January 23, 2018
Are you optimistic about more trade with Sri Lanka?
Are you optimistic about more trade with Sri Lanka, following PM Lee's visit?
Give your vote in
www.wisdomofthecrowd.sg
Give your vote in
www.wisdomofthecrowd.sg
Are we a smart nation?
Are we a smart nation? It seemed to be easier to submit a manual form than than to submit an online form to certify a NS man's pay.
http://www.tankinlian.com/ArticleDisplay.aspx?ID=1456
http://www.tankinlian.com/ArticleDisplay.aspx?ID=1456
Will GST be raised in budget 2018?
I asked this question in The Wisdom of the Crowd - Will GST be raised in budget 2018?
78% said that it will be raised to between 8% to 10%. 22% said that it will be raised in a later year.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
78% said that it will be raised to between 8% to 10%. 22% said that it will be raised in a later year.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
If there is a bad economy in 2020, will PAP get more votes or less votes?
I asked this question in the Wisdom of the Crowd - If there is a bad economy in 2020, will PAP get more votes or less votes?
90% said the PAP will get less votes for two reasons. 10% said that they will get more votes.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
90% said the PAP will get less votes for two reasons. 10% said that they will get more votes.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
Which political party will you vote for at the next general election?
I asked this question in the Wisdom of the Crowd - Which political party will you vote for at the next general election?
50% of those who voted chose the Workers' Party. This is a biased and small sample, so you should read the result with caution.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
50% of those who voted chose the Workers' Party. This is a biased and small sample, so you should read the result with caution.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
Monday, January 22, 2018
Do you agree with the use of the former names for the merged junior colleges?
I asked this question in The Wisdom of the Crowd - Do you agree with the use of the former names for the merged junior colleges?
80% disagree with the new name formed by combining the former names for three reasons. 20% agreed with the approach.
View the breakdown of the votes in
www.wisdomofthecrowd.sg
80% disagree with the new name formed by combining the former names for three reasons. 20% agreed with the approach.
View the breakdown of the votes in
www.wisdomofthecrowd.sg
Will private property prices move higher over the next two years?
I asked this question in The Wisdom of the Crowd - Will private property prices move higher over the next two years?
See the breakdown of the votes in
www.wisdomofthecrowd.sg
88% said that it will move higher for two reasons. 12% said that the prices will move down due to higher interest rate.
See the breakdown of the votes in
www.wisdomofthecrowd.sg
Do you agree with the government's concern about fake news?
I asked this question in The Wisdom of the Crowd - Do you agree with the government's concern about fake news?
53% of those who voted said that the government wants to clam down on freedom of expression. 33% said that this move is unnecessary as most people who be able to discern what is real news and what is fake news. 13% supported the move as deliberate falsehood can cause a lot of trouble.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=454
53% of those who voted said that the government wants to clam down on freedom of expression. 33% said that this move is unnecessary as most people who be able to discern what is real news and what is fake news. 13% supported the move as deliberate falsehood can cause a lot of trouble.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=454
What are your views about the fire in Toa Payoh?
I asked this question in The Wisdom of the Crowd - What are your views about the fire in Toa Payoh?
60% of those who voted said that they are alarmed, as it reflect a decline in standard in many areas. 8% said that it reflected a decline in the standard of fire safety. 32% said that it is an unfortunate event, but the standard of fire safety remained high.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=453
60% of those who voted said that they are alarmed, as it reflect a decline in standard in many areas. 8% said that it reflected a decline in the standard of fire safety. 32% said that it is an unfortunate event, but the standard of fire safety remained high.
See the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=453
Is HDB flat a good investment?
Hi Kin,
Here is an article about Singapore's public housing woes: https://international.thenewslens.com/article/69969
It reminds me that LKY said before the 2011 GE that subsidised BTO flats are: "to give the man an asset which he will value, which will grow in price as the country develops, as his surroundings become better.”
But Lawrence Wong, minister for National Development, said that: “the leases will eventually run out, and the flats will be returned to HDB... As the leases run down, especially towards the tail-end, the flat prices will come down correspondingly (towards zero).”
Someone must be LYING right?
My comment:
Both LKY and Lawrence Wong are right. They are referring to different time periods.
If someone buy a new HDB flat (referred to as BTO flat) with government grant, he does get it at a price that is much lower than the resale price for many years. The value of the flat will appreciate for about 50 years.
After 50 years, the value will remain stagnant for about 20 years and will start to decline thereafter.
LKY was talking about the first 50 years. Lawrence Wong was talking about the last 30 years.
Sadly, most Singaporeans do not think deep enough to understand this fact.
Here is an article about Singapore's public housing woes: https://international.thenewslens.com/article/69969
It reminds me that LKY said before the 2011 GE that subsidised BTO flats are: "to give the man an asset which he will value, which will grow in price as the country develops, as his surroundings become better.”
But Lawrence Wong, minister for National Development, said that: “the leases will eventually run out, and the flats will be returned to HDB... As the leases run down, especially towards the tail-end, the flat prices will come down correspondingly (towards zero).”
Someone must be LYING right?
My comment:
Both LKY and Lawrence Wong are right. They are referring to different time periods.
If someone buy a new HDB flat (referred to as BTO flat) with government grant, he does get it at a price that is much lower than the resale price for many years. The value of the flat will appreciate for about 50 years.
After 50 years, the value will remain stagnant for about 20 years and will start to decline thereafter.
LKY was talking about the first 50 years. Lawrence Wong was talking about the last 30 years.
Sadly, most Singaporeans do not think deep enough to understand this fact.
Saturday, January 20, 2018
Which political-economic system is best for a country?
capitalism - an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
socialism - a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
anarchism - belief in the abolition of all government and the organization of society on a voluntary, cooperative basis without recourse to force or compulsion.
facism - a form of radical authoritarian nationalism, characterized by dictatorial power, forcible suppression of opposition and control of industry and commerce that came to prominence in early 20th-century Europe.
communism - a theory or system of social organization in which all property is owned by the community and each person contributes and receives according to their ability and needs.
democracy - a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
Oligarchy - is a form of power structure in which power rests with a small number of people.
Dictatorship - a form of government in which a country or a group of countries is ruled by one person or by a polity and power is exercised through various mechanisms to ensure that the entity's power remains strong.
socialism - a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
anarchism - belief in the abolition of all government and the organization of society on a voluntary, cooperative basis without recourse to force or compulsion.
facism - a form of radical authoritarian nationalism, characterized by dictatorial power, forcible suppression of opposition and control of industry and commerce that came to prominence in early 20th-century Europe.
communism - a theory or system of social organization in which all property is owned by the community and each person contributes and receives according to their ability and needs.
democracy - a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
Oligarchy - is a form of power structure in which power rests with a small number of people.
Dictatorship - a form of government in which a country or a group of countries is ruled by one person or by a polity and power is exercised through various mechanisms to ensure that the entity's power remains strong.
Will IOT help to locate a missing child?
For the past 30 years, I have been worried about children being abducted.
Imagine that the parent takes a child to a mall or crowded place. The child wonders away and went missing. The child is too young to know how to get back to the parent.
If the child is found by a decent person, the finder will take the child to a police station or the parent can ask the police if the child is found.
If the child is found by a bad person, the child might gone missing permanently.
This problem is compounded when the family is overseas on a holiday.
One possible precaution is to give a message that the child can show to the finder - missing child, call (name), (number) of parent. It can also be pasted as a label to an bag or a piece of clothing for the child. It can also be worn like a watch.
Is there another way for a GPS device to be worn by the child? The parent can track the child with a mobile phone. But this request the device to have a SIM card as well.
The beacon created by Apple can be a way to track the location of the child. But it requires sufficient mobile phones with apps that can read the beacon.
Perhaps the best solution is IOT (internet of things) technology. The child can carry an IOT device. Its location can be sensed by the IOT network. The parent can search the IOT network and know the location of the child.
Will the IOT be the ultimate answer?
Imagine that the parent takes a child to a mall or crowded place. The child wonders away and went missing. The child is too young to know how to get back to the parent.
If the child is found by a decent person, the finder will take the child to a police station or the parent can ask the police if the child is found.
If the child is found by a bad person, the child might gone missing permanently.
This problem is compounded when the family is overseas on a holiday.
One possible precaution is to give a message that the child can show to the finder - missing child, call (name), (number) of parent. It can also be pasted as a label to an bag or a piece of clothing for the child. It can also be worn like a watch.
Is there another way for a GPS device to be worn by the child? The parent can track the child with a mobile phone. But this request the device to have a SIM card as well.
The beacon created by Apple can be a way to track the location of the child. But it requires sufficient mobile phones with apps that can read the beacon.
Perhaps the best solution is IOT (internet of things) technology. The child can carry an IOT device. Its location can be sensed by the IOT network. The parent can search the IOT network and know the location of the child.
Will the IOT be the ultimate answer?
It takes time to reverse a bad government policy
This news report paint the job of a policeman to be demanding and risky. It is not true. All jobs have some degree of risk and are demanding anyway.
The job of a policeman is attractive to some people. They will be happy to be a policeman if the pay and prospects are good.
But our government makes it unattractive due to low pay and poor promotion prospects for non-graduates. This is another example of a bad policy. They realized their mistake after 30 years and are now trying to reverse their bad policy. But it takes time. We have an incompetent government.
https://www.channelnewsasia.com/news/singapore/on-the-job-as-a-police-patrol-officer-unpredictable-high-risk-9874626?cid=emarsys-cna_20180120_0000_CNA+-+eNews4+-+0740+%28wef+27+Dec+17%29_newsletter_20012018_cna&sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=49589&sc_lid=66124289&sc_uid=22K6jmHe3A
The job of a policeman is attractive to some people. They will be happy to be a policeman if the pay and prospects are good.
But our government makes it unattractive due to low pay and poor promotion prospects for non-graduates. This is another example of a bad policy. They realized their mistake after 30 years and are now trying to reverse their bad policy. But it takes time. We have an incompetent government.
https://www.channelnewsasia.com/news/singapore/on-the-job-as-a-police-patrol-officer-unpredictable-high-risk-9874626?cid=emarsys-cna_20180120_0000_CNA+-+eNews4+-+0740+%28wef+27+Dec+17%29_newsletter_20012018_cna&sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=49589&sc_lid=66124289&sc_uid=22K6jmHe3A
The government should be more considerate and accountable
Dear Mr. Tan
Why did the government statuary board could not communicate with each other.
The government has survey for every trade. All companies has file information to IRAS and MOM with regards to all the information needed.
why did the government statuary boards just share information? Instead they make the businesses file all different things and prepare multiple sets of information?
by doing this, are they trying to penalise the businesses if they make mistakes in the filing or surveys.
it is not the first time that I have encounter this very bad practise in Singapore wasting time and manpower.
btw why did the government needs BCA to conduct survey when ACRA, MOM and IRAS has all the information. If they are sharp in detection problems IRAS and ACRA would have alert the relevant Statuary department when an orange light has appear in the statistic analysis by information in all filings.
MY REPLY
I agree with you. We have a bad government. They do not care about the problems that they cause to the businesses and citizens. That is why our cost of doing business is so high, and the cost of living is so high.
We need a government that is more considerate and more accountable. If they get feedback from the public, they should get a senior person to understand the feedback and see if anything can be done to improve the situation. Instead, the people handing the feedback ignore it, or just find some excuse to avoid doing anything.
This is poor quality of civil service. It has deteriorated badly for the past three decades.
Taking a lift from a stranger
Straits Times report.
Quote
Say "no" to getting a ride from strangers, kids told.
Students shouldn't take any chance even if driver means well, says MPs on recent scares.
A child should never take up a stranger's offer of a lift in their vehicle, even on a a rainy day.
This was the resounding verdict of socialogists, support groups and Members of Parliament, who were commenting on a series of recent incidents here that raised the spectre - albeit briefly - of kidnapping.
Unquote
Welcome to Singapore. The Singapore mindset is to think of the worst case and take all kinds of precautions. And the problem will disappear.
Really?
There are many other ways for kidnappers to kidnap a child. When the child grows up and becomes an adult and have to travel to other countries, they will also be scared to take taxis or other forms of transport, because they can also be kidnapped?
Can you trust taking a private hire car? Are you sure that the driver has been screened by Uber or Grab? Can a third party take over the car and go around to pick up riders for kidnap?
Do we want people to grow up to be scared of all strangers?
There must be a better way to teach students how to accept a ride from strangers and still be safe. How about taking a photo of the car and send it by SMS to the parent or friend? And let the kind driver know that this has been done.
In the old days, taking a lift from strangers if a good way for young people to travel across a large country, like America. Some people do disappear, but the majority gets a useful life experience. They may disappear on the streets, and not only from taking a ride.
Quote
Say "no" to getting a ride from strangers, kids told.
Students shouldn't take any chance even if driver means well, says MPs on recent scares.
A child should never take up a stranger's offer of a lift in their vehicle, even on a a rainy day.
This was the resounding verdict of socialogists, support groups and Members of Parliament, who were commenting on a series of recent incidents here that raised the spectre - albeit briefly - of kidnapping.
Unquote
Welcome to Singapore. The Singapore mindset is to think of the worst case and take all kinds of precautions. And the problem will disappear.
Really?
There are many other ways for kidnappers to kidnap a child. When the child grows up and becomes an adult and have to travel to other countries, they will also be scared to take taxis or other forms of transport, because they can also be kidnapped?
Can you trust taking a private hire car? Are you sure that the driver has been screened by Uber or Grab? Can a third party take over the car and go around to pick up riders for kidnap?
Do we want people to grow up to be scared of all strangers?
There must be a better way to teach students how to accept a ride from strangers and still be safe. How about taking a photo of the car and send it by SMS to the parent or friend? And let the kind driver know that this has been done.
In the old days, taking a lift from strangers if a good way for young people to travel across a large country, like America. Some people do disappear, but the majority gets a useful life experience. They may disappear on the streets, and not only from taking a ride.
Friday, January 19, 2018
Thursday, January 18, 2018
Get rid of GST refund for tourists
I do not like the GST refund for tourist. I believe that GST should be applied to all, locals and tourists. If there is a need to encourage tourism in Singapore, there should be other ways to achive the goal, rather than to have GST refund.
I remembered that there was a scandal involving GST refund by tourists recently. The locals purchase the expensive goods, but asked the tourists to claim the GST refund. Under this scam, both the locals and the tourist shared the spoil.
We may be able to detect some of the scams, but what about the other scams that are not detected? Why create a scheme that has a loophole that can be exploited?
It is better to focus on improving productivity and reduce the cost of doing business, rather than to create these wasteful schemes.
I remembered that there was a scandal involving GST refund by tourists recently. The locals purchase the expensive goods, but asked the tourists to claim the GST refund. Under this scam, both the locals and the tourist shared the spoil.
We may be able to detect some of the scams, but what about the other scams that are not detected? Why create a scheme that has a loophole that can be exploited?
It is better to focus on improving productivity and reduce the cost of doing business, rather than to create these wasteful schemes.
What can Singapore do to become a sporting nation?
I asked this question in the wisdom of the crowd - What can Singapore do to become a sporting nation?
72% of those who voted gave three suggestions. The remaining 28% said that this goal should be dropped, as Singapore can never be a sporting nation.
You can view the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=450
72% of those who voted gave three suggestions. The remaining 28% said that this goal should be dropped, as Singapore can never be a sporting nation.
You can view the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=450
Is it a good strategy for the Pakatan coalition to pick Dr. Mahathir as PM designate?
I asked this question in The Wisdom of the Crowd - Is it a good strategy for the Pakatan coalition to pick Dr. Mahathir as PM designate?
To my surprise, 70% said that it is a good strategy. They gave two reasons. The remaining 30% disagreed.
I wonder if the 70% is indicative of the thinking in Singapore at the last general election? Hahaha.
You can view the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=452
To my surprise, 70% said that it is a good strategy. They gave two reasons. The remaining 30% disagreed.
I wonder if the 70% is indicative of the thinking in Singapore at the last general election? Hahaha.
You can view the breakdown of the votes in
http://www.wisdomofthecrowd.sg/chart.aspx?ID=452
Sunday, January 14, 2018
Video clips on Financial Planning
Hi Kin Lian,
Will you consider recording your presentations and making them available on your own youtube channel? For example your upcoming event on Financial Planning - Doing it right, I'm interested to know more but obviously cannot attend. I'm sure there are others in similar situations.
There is still value in attending live as you can ask questions. But making it available on youtube at a later date I think is something you can consider.
REPLY
http://www.fisca.sg/ArticleDisplay.aspx?ID=555
Will you consider recording your presentations and making them available on your own youtube channel? For example your upcoming event on Financial Planning - Doing it right, I'm interested to know more but obviously cannot attend. I'm sure there are others in similar situations.
There is still value in attending live as you can ask questions. But making it available on youtube at a later date I think is something you can consider.
REPLY
http://www.fisca.sg/ArticleDisplay.aspx?ID=555
Tough time ahead for taxis and private hire?
I forsee one big problem ahead. Currently, there are many people who do not have a regular job but are able to make a living by being a private hire driver under Grab and Uber. They include PMETs who were retrenched and the graduates who could not find a job.
The earnings from being a private hire driver is quite attractive. But this was largely financed by the promotions offered by Grab and Uber. These promotions must cost massive losses for these companies and are burning up their venture capital. This can continue only for a while.
When Grab and Uber stops their promotions or burn up their venture capital, the demand for taxis and private hire will drop sharply. The private hire drivers will see a big decline in their earnings. The massive over-supply of taxis and private hire cars will be felt.
The taxi drivers and the private hire drivers will be badly affected.
I see this happening during the first half of this year. It will be very painful for many people. I hope that some of the taxi and private hire drivers have other alternative jobs, so that the supply will be moderated.
Maybe, I am wrong and the happy situation can continue for a year or so. What are your views?
The earnings from being a private hire driver is quite attractive. But this was largely financed by the promotions offered by Grab and Uber. These promotions must cost massive losses for these companies and are burning up their venture capital. This can continue only for a while.
When Grab and Uber stops their promotions or burn up their venture capital, the demand for taxis and private hire will drop sharply. The private hire drivers will see a big decline in their earnings. The massive over-supply of taxis and private hire cars will be felt.
The taxi drivers and the private hire drivers will be badly affected.
I see this happening during the first half of this year. It will be very painful for many people. I hope that some of the taxi and private hire drivers have other alternative jobs, so that the supply will be moderated.
Maybe, I am wrong and the happy situation can continue for a year or so. What are your views?
Will GST be raised in 2018 and by how much?
Will GST be raised in 2018 and by how much?
This question is not about whether you like it to be raised, but whether the government will go ahead and make life difficult for the people.
Give your vote in
www.wisdomofthecrowd.sg
This question is not about whether you like it to be raised, but whether the government will go ahead and make life difficult for the people.
Give your vote in
www.wisdomofthecrowd.sg
Which political party will you vote for at the next general election?
Which political party will you vote for at the next general election? Assume that your favorite party will contest in your constitutency.
Give your vote in
www.wisdomofthecrowd.sg
Give your vote in
www.wisdomofthecrowd.sg
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