Make a proper introduction

 Often, a stranger would come up to me and said "Hello, Mr. Tan. Nice to see you".

I could not recognize him and wondered if he was a former colleague, neighbor or business associate.

I asked him, and he said "I followed you on Facebook".

It would have been better if he had introduced himself properly, and do not presume that I know his background. It would only be fair to me.

A 76 yo person sent me a private message to suggest that I should contest the presidential election. He introduced himself as being 76 yo and a complete stranger to me. It was proper for him to introduce himself in this way.

I find it easier to reply to a person who made a proper introduction.

I often get private messages from strangers who asked "Are you free to chat" or "Tell me about yourself". I delete all of these requests for being presumptions.

The girl from Angola send me an email and a private message from Facebook. She explained in fair detail about her family circumstances and requested for a donation that would allow her to study a course and get a job. She sounded sincere. I asked a few follow up questions and decided to help her in a small way (smaller than what she asked for).

It is important for a person to make a proper introduction before engaging with another person.

I hope that this advise is useful for you.

Tan Kin Lian

Wisdom of the Crowd - New Issues

1. How do you describe China
2. How do you describe America

Vote in
https://tklcloud.com/Crowd2/vote.aspx

Delivery from Shopee

http://tklcloud.com/Feedback/feedback2.aspx?id=5735

Overcharged by travel agent

 I asked my friend's secretary in Jakarta to arrange return train tickets from Jakarta to Bandung.

As she was not familiar with purchase of train tickets, she approached a travel agent in Jakarta.

The travel agent overcharged me by loading 150% to the actual cost of the tickets, i.e. they charged IDR 1 million (S$85) when the actual tickets cost IDR 400,000 (S$37). Furthermore, they did not give me the full train schedule and only offered an inconvenient time for both trips.

I learned later that I could have searched online for the tickets, get the actual price and select the most appropriate departure time. If I needed to reserve the tickets in advance, it could also be done.

I do not blame the secretary because she was not familiar with the purchase of train tickets. I guess that this is how travel agencies make a quick buck from unsuspecting travelers.

Tan Kin Lian 

Lava bands

 A tout sold me three lava bands at the volcano in Tanghuban Perahu Nature Park in Bandung.

He spoke English and followed me for a while, giving useful information about the volcano crater and the site. He was not intrusive, unlike the other touts.

He asked for a higher price but I bargained it down to RM 200,000 (S$17) for 2 pieces. He gave a smaller piece as an "extra".

He said that the lava band helped to reduce stress. I did not believe him at that time, but it did not matter. Later, I checked Google and found that the lava stone absorbed negative ions, and did have that effect of reducing stress.

My Indonesian friend, who accompanied me to the volcano, suggested that I should allow him to do the bargaining and get a better price as a local.

I thanked him for his offer, but told him that I do not mind paying a higher "tourist" price to help the local vendors, who had to make a living.

Tan Kin Lian

Angola girl (2)

I helped a family in Angola
 http://tklcloud.com/Feedback/feedback2.aspx?id=5734

WOTC - Tharman S

 Wisdom of the Crowd: 36% of respondents have a favorable view of Tharman S as president of Singapore.

https://tklcloud.com/Crowd2/chart3.aspx?id=2914

WOTC - George Goh

 Wisdom of the Crowd: 76% of respondents are positive about George Goh as president of Singapore.

https://tklcloud.com/Crowd2/chart3.aspx?id=2915

Facebook page could not load due to "technical error"

 My problem with the Facebook Page.

https://tklcloud.com/Feedback/feedback2.aspx?id=5732

Twitter

 I will be using Twitter more often to provide updates to my activities and investments. 
Go to this page and click on Follow

https://twitter.com/kinlian

Wisdom of the Crowd - Presidential election, 2023

 65% of respondents said that they would vote for Tan Cheng Bock, while 35% said that they would vote for Tharman Shanumgaratnam, if these were the two candidates for the Singapore presidential election, 2023.

https://tklcloud.com/Crowd2/chart3.aspx?id=2912

Corporate bonds

 Here are my notes about investing in corporate bonds.

https://fisca.sg/ArticleDisplay.aspx?ID=1336

Wisdom of the Crowd - New Issues

1. Who will you vote as president (3)
2. What are your views about Tharman as President of Singapore?
3. What are your views about George Goh as president

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Presidential election - PAP, Non

 Wisdom of the Crowd: 85% of respondents said that they will vote for a non PAP endorsed candidate for change and accountability.

https://tklcloud.com/Crowd2/chart3.aspx?id=2909

Sharp increase in Tesla stock price over the past month

 https://fisca.sg/ArticleDisplay.aspx?ID=1335

Presidential election, 2023

 Previously, a private sector candidate for presidential election has to meet the requirement (3 years as CEO of a large company) within 15 years prior to the writ of election.

I do not qualify because I have passed 15 years since my service as CEO of NTUC Income.

For some strange reason (which I do not know why) this has now been changed to 20 years. By this new criteria, I would have qualified.

Is someone playing tricks on TKL? Hehehe.

I think Tan Cheng Bock would also qualify. So, I will give way to him.

I also think that Lee Hsien Yang will apply also, although many people think that the selection committee will reject him. (I don't think that they will).

A few people have asked me to join in, in case all the other candidates, including George Goh, are disqualified.

I think that there will be a contest, as the PAP does not want a walkover.

I have no interest in participating in this presidential election for personal reasons.

I hope that one of the alternative candidates will qualify and give a strong competition to the PAP endorsed candidate.

Tan Kin Lian

WOTC - Singapore economy

 Wisdom of the Crowd: 94% of respondents have a negative view of the Singapore economy over the next six months.

https://tklcloud.com/Crowd2/chart3.aspx?id=2908

WOTC - Presidential election

 Wisdom of the Crowd: 47% of respondents expect that there will only be 1 candidate for the presidential election. 40% expect that there will be a contest but the PAP sponsored candidate will win.

https://tklcloud.com/Crowd2/chart3.aspx?id=2907

The Sun and the Storm

Once upon a time, in a serene and picturesque meadow, the Sun and the Storm engaged in a lively discussion about their unique perspectives on life. They were opposites in nature, representing the forces of positivity and negativity.

The Sun, with its warm and radiant rays, believed in spreading light and cheer to all living beings. It was a symbol of positivity, hope, and optimism. The Storm, on the other hand, was tempestuous, dark, and carried a gloomy atmosphere wherever it went. It symbolized negativity, uncertainty, and pessimism.

Eager to prove the strength of their respective mindsets, the Sun and the Storm decided to hold a competition. They chose a small village nestled in the meadow as the battleground for their contest.

The Sun decided to begin the competition by blessing the village with its bright and nurturing rays. It shone down upon the inhabitants, embracing them in its gentle warmth. The villagers, infused with positivity, felt inspired and joyful. They engaged in productive activities, helped one another, and spread happiness throughout the community.

As the Sun's radiant presence continued, the village flourished. The crops grew abundantly, and the animals thrived. The people's faces glowed with contentment, and a harmonious atmosphere enveloped the village.

Observing the village's transformation, the Storm grew restless. It believed that it could outdo the Sun's positive influence with its power to disrupt and bring about change. So, the Storm unleashed its might upon the village, covering the sky with dark clouds and unleashing a torrential downpour.

The villagers, now facing adversity, felt gloomy and uncertain. The fields flooded, and their hard work seemed in vain. The Storm's negative energy weighed heavily upon them, sapping their motivation and filling their hearts with despair.

Despite the Storm's relentless assault, the Sun continued to shine. It remained hidden behind the dark clouds, waiting for its chance to reclaim its rightful place in the sky. Slowly, the Storm exhausted itself, and the rain ceased. The Sun emerged, triumphant and radiant, from behind the retreating storm clouds.

As the Sun's warm rays touched the village once again, a miraculous transformation took place. The villagers' spirits lifted, and their resilience ignited. They came together, rebuilding their homes, replanting their fields, and helping one another recover from the storm's aftermath.

The Sun's positive energy infused the villagers with hope, optimism, and determination. Through their collective efforts, they not only restored the village but also made it even stronger than before.

In the end, it became evident to all that the Sun's positive mindset had triumphed over the Storm's negativity. The fable of the Sun and the Storm taught the villagers and anyone who heard their story that a positive mind can overcome any obstacle, inspiring resilience, unity, and a brighter future.

The moral of the fable: A positive mind, like the Sun, brings light, hope, and strength even in the face of adversity, while a negative mind, like the Storm, can only disrupt and hinder progress.

Difference between a positive and negative mind

 I write this story about a serving robot to explain the difference between a positive and a negative mind.

https://tklcloud.com/Feedback/feedback2.aspx?id=5727

WOTC - Temasek and FTX

 Wisdom of the Crowd: 73 % of the respondents said that Temasek Holdings should claw back the bonus paid during the past two years to the executives involved in the decision to invest in FTX.

https://tklcloud.com/Crowd2/chart3.aspx?id=2906

WOTC - President of Singapore

 Wisdom of the Crowd: 58% of respondents expect another person (other than HC, George Yeo or Lee HY) to be the next president of Singapore.

https://tklcloud.com/Crowd2/chart3.aspx?id=2905

WOTC - COE

 Wisdom of the Crowd: 92 % of respondents prefer the authorities to set a market price for the COE quotas and distribute the quota by ballot (instead of the current bidding system).

https://tklcloud.com/Crowd2/chart3.aspx?id=2904

Wisdom of the Crowd - New Issues

1. Who will you vote as President of Singapore (1)
2. Who will you vote as President of Singapore (2)

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Land for religious organizations

 80 % of respondents said that the balloting system for land used by religious organizations ensures that the land is priced at market, but is not inflated through bidding

tklcloud.com/Crowd2/chart3.aspx?id=2903

WOTC - Business mail

 Wisdom of the Crowd: 50% of the respondents said that business mail should be sent to a secured business mail platform, 40% by ordinary email and 10% by login to the individual organization's website.

https://tklcloud.com/Crowd2/chart3.aspx?id=2902

Wisdom of the Crowd - New Issues

1. Who will you vote for at the presidential election, 2023
2. Which candidate will you vote for president 2023?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Bus service at Tuas checkpoint

 Wisdom of the Crowd - 100 % of respondents said that it t is better to have more bus operators at Tuas checkpoint to provide alternative choices to commuters and avoid a monopoly.

https://tklcloud.com/Crowd2/chart3.aspx?id=2901

WOTC - Priority in queues for seniors

 Wisdom of the Crowd: 77 % of respondents said that seniors should be given priority as a sign of respect and also for their health

https://tklcloud.com/Crowd2/chart3.aspx?id=2900

Invest in SDR of Thai stocks listed in SGX

 Someone asked for my views about investing in SDR (stock deposit receipts) of Thai companies, recently listed in SGX and promoted by Singapore banks.

I wrote my view here.
https://fisca.sg/ArticleDisplay.aspx?ID=1334

Trash bins

There is a shortage of trash bins in public places. It is difficult to find a trash bin when it is needed.

Some people said that the trash bins could be a security risk as terrorists could plant explosives in bags that are kept in the bins. I find this reason to be incredible. Terrorist could leave explosives in crowded places that could cause more harm.

Anyway, there are not many incidences of exploding trash bins for this to be a real risk. It is more likely to be imaginary.

The real reason could be the shortage of workers to remove the trash from the bins.

I like to suggest how the disposal of trash can be better organized to solve the shortage of labor and also to achieve the goal of recycling.

a) Provide large trash bins for different types of materials (i.e. different bins for paper, glass and metal) at trash centers located near street corners.
b) Stop collecting of trash at the houses. The householders can deposit their trash centers.
c) Many people go to the bus stop for their daily travel. It is not difficult for them to carry the trash bags to the trash centers along the way.
d) Those who drive cans top their cars near the trash centers.
e) Encourage the households to have separate trash bags for different types of trash (for recycling).
f) Collect the trash from the trash centers a few times each day.

Ordinary people have been used to throwing trash down a chute in a HDB block or in a bin outside their house. They can change their habits to bring the trash in a bag to the trash center.

We need a more efficient way to collect the trash.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5725

WOTC - Trash bins

 Wisdom of the Crowd: 83 % of respondents said that trash bins are necessary for people to throw their trash at convenient public places.

https://tklcloud.com/Crowd2/chart3.aspx?id=2899

Have medical test centers in the neighborhood

I wish to share my experience in visiting the Singapore National Eye Center (SNEC) for treatment as a public patient and give some suggestions on how the process could be improved.

I spent 4 hours at the SNEC clinic to take 2 tests and be seen twice by the specialist(i.e. eye doctor). The technicians performing the two tests took about 20 minutes and by the specialist saw me for 15 minutes. The remainder of the time was sent waiting.

I will break down the process as follows:

a) Carry out tests
b) Review by the specialist

With modern technology, it should be possible for the tests to be taken at a test center in the neighborhood. The images could be seen by the specialist remotely.

If there is a need for the specialist to talk to the patient, it can also be done through teleconferencing. If a live interview is needed, it can be arranged at the test center or a visit to the medical center.

My suggestion is to have a network of test centers in the neighborhood, that are connected to the medical center.

It is better to have adequate testing equipment, manned by medical technicians at test centers. This will reduce the travel and waiting time for the patients and still produce a satisfactory review by the specialist.

We can use modern technology in an efficient manner. It applies to the test centers, to the database system to keep the relevant patient records and to an efficient appointment system.

The use of the test centers in the neighborhood is especially useful to handle the elderly patients who may find it difficult to visit the medical center.

My suggestion can probably be applied to other treatments, i.e. other than eye treatment. However, I am not familiar with these processes, so I will leave this matter for others to comment.

If surgery or treatment are required, the patient will have to visit the medical center to be seen by the specialist. Still, it is useful for the tests to be carried out earlier, using the neighborhood testing centers.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5724

Wisdom of the Crowd - New Issues

1. Will there be a contest for the presidential election in 2023?
2. Which is the prospect for the Singapore economy during the next 6 months

Vote in
https://tklcloud.com/Crowd2/vote.aspx

Feeder services to MRT stations

 The current bus network comprise of over 300 services that provides a comprehensive coverage of the whole of Singapore. It is possible to get from one part of Singapore to another part on a direct service or by making one or two transfers.

While this system is necessary in the old days before the MRT network was fully developed, it is probably redundant and costly to operate.

The bus network can now be replaced by a new network of feeder buses to bring commuters to the nearby MRT station, where they can use the MRT network to travel a long distance to their destination. If the final destination is far from the MRT station, the commuter can make another transfer on a feeder bus.

The current network of over 300 services can be replaced by a new network of 120 feeder buses, with an average of 2 feeder services serving each town. The feeder buses travel a short distance within the town and can be at intervals of 2 to 5 minutes during peak and off peak hours.

The cost of operating the feeder bus network is likely to be much lower than the cost of operating the current network of over 300 bus services.

I guess that the potential savings could be $50 million a year.

At a later stage, it should be possible to replace the manned feeder buses by an autonomous feeder buses. As the feeder service is short, it should be quite easy to convert the buses to run autonomously. These autonomous buses can run on electricity.

While this will reduce drivers, it will create jobs to provide customer service and technicians to service the buses.

Under the new system of feeder buses, it may be difficult for the wheelchair users to make many transfers. Their needs can be better met by providing a network of wheelchair ready vehicles to bring them to medical facilities. This can be called on demand or by a service that operate at hourly or half hourly intervals.

I hope that the Land Transport Authority will think about this option for the future.

Tan Kin Lian

https://tklcloud.com/Feedback/feedback2.aspx?id=5723

WOTC - Spratly Islands

 Wisdom of the Crowd: 73 % of the respondents said that it is better for China to take a soft approach on the Spratly Islands and not affect the livelihood of the Filipino fishermen

https://tklcloud.com/Crowd2/chart3.aspx?id=2898

Wisdom of the Crowd - New Issues

1. How is likely to be the next president of Singapore?
2. How should the Temasek executives involved in FTX be penalized?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

Iswaran is playing tricks on TKL

 Why do I keep saying that "Iswaran is playing tricks on TKL" ?

Here is the reason.
https://tklcloud.com/Feedback/feedback2.aspx?id=5722

Giving advice

 I avoid giving advice on a subject that I am not familiar with. 
https://tklcloud.com/Feedback/feedback2.aspx?id=5721

My prediction for global stock markets

 This is the reason why I continue to be invested during the uncertain times.

https://fisca.sg/ArticleDisplay.aspx?ID=1333

Charge for sending emails

 I suggest that email platforms should impose a charge for users to send emails.

https://tklcloud.com/Feedback/feedback2.aspx?id=5720

CPF Life

 Should I transfer my money from retirement account to CPF Life?

https://fisca.sg/ArticleDisplay.aspx?ID=1332

How a scammer steals from a bank account

Many people are quite illogical. They are fearful of scams but they do not pay attention to how the scams are carried out. They spread fear and advised people wrongly, due to their ignorance.

The scammer cannot steal your money from the following:

a) knowing your email address
b) when you ordered food with a QR code

To access your bank account and steal your money, the scammer needs to know your account login credentials (i.e. your sign in code and password). Most people have set up a 2FA, so the scammer need to have your physical phone (to generate a 2FA token) or to receive a one time PIN sent by your bank.

This is how a few recent scams worked.

The scammer sent an email to the customer purporting to come from the bank. This email contain a link to a fake website that looked like the bank's website.

The customer (who does not suspect the scam) clicked on the link to enter the login credentials (code and password). The scammer uses the credentials to access the real website of the bank. The bank sends a PIN to the customer.

The customer enters the PIN into the fake website. The scammer now has the PIN which they can access the real website.

I have set up a 2FA using the bank's digital token. My bank does not send a PIN. The scammer needs to have my physical phone to access the digital token. But, my phone is protected by my fingerprint (which the scammer does not have).

The chance of a scammer accessing my bank account is extremely low. It may happen, but most likely it will not.

I encourage people to take the trouble to learn how how a scammer carries out the scam, rather than have a blind fear and spread fear through ignorance.

Tan Kin Lian

Wisdom of the Crowd - New Issues

1. How should the public receive their business mail from organizations?
2. Singapore allows land for religious organizations to be given by ballot
3. How should the COE quota be handled?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

How to deal with scam emails and phone calls

The incidences of scam emails and phone calls are rampant in Singapore. We need to understand the root cause and take the appropriate measures to deal with it.

For the past two decades, the Singapore authorities (and in particular the Ministry of Finance and the Monetary Authority of Singapore) have mandated government agencies and financial institutions to avoid sending  business communication  (i.e. statements, invoices, notices) by email, on the ground that emails may be hacked. 

These institutions stored their business communications in their websites and send email notifications to remind the public to login to the websites to retrieve these communications.

This practice has created an unintended consequence. The scammers realized that they could send false notifications to the public and direct them to their scam websites. The public did not realize that they were logging into the scam websites and the scammers were able to capture their login credentials. The scammers used the credentials to login to the real websites. 

It can be harmful if the credentials are to access bank accounts and allow money to be transferred.

To eradicate these scams, we have to deal with the root of the problem. The organizations should not store their business communications in their own websites. Instead, they should send these communications directly to the email accounts of the recipients or into a secure website (which I will name as the Business Mail website). 

Each person has an account in the Business Mail website, and the business communications from all participating organizations will be sent to this account.

The public is likely to login into one account regularly, maybe daily, as it contains the communications from all the relevant organizations. It is like opening the paper mail that is sent to his home address. 

When the Business Mail platform is created, there is no need for the individual organizations to send email notifications to the public. The public will not be scammed into accessing the scam websites. 

Tan Kin Lian 
 

WOTC - Rental of Ridout Road bungalows

 Wisdom of the Crowd: 100 % of respondents said that there is no reason to keep the rental of the Ridout Road bungalows to the ministers private, as the rental of government properties are generally published in other situations.

https://tklcloud.com/Crowd2/chart3.aspx?id=2897

CDC Vouchers

 I suggest a new approach to handle CDC vouchers in future.

https://tklcloud.com/Feedback/feedback2.aspx?id=5717

Wisdom of the Crowd - New Issues

 

1. China harass Filipino fisherman fishing near the Spratly Islands
2. Should trash bins be removed from public places?
3. Should seniors be given priority in queues?
4. Why is Causeway Link the only provider of bus services at Tuas checkpoint?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - COI on Ridout bungalows

 Wisdom of the Crowd: 100% of respondents said that the President should call a COI on the rental of the Ridout bungalows to two ministers.

https://tklcloud.com/Crowd2/chart3.aspx?id=2896AC

Ministers rent black and white bungalows from the government

 Many people are indignant that two ministers used, or rather abused, their ministerial positions to rent two black and white bungalows from the government.

They criticized the ministers in social media.

I hold a different opinion. I think that it is all right for the ministers to rent a bungalow at the market rental (based on the guide rental) and even to have preference in its allocation (i.e. no need for competitive bidding).

It is better for our ministers to be living in suitable accommodation that befit their status and office. These bungalows would be quite suitable.

The rental that they have to pay is based on the market rental. and is not subsidized. It may not have the mark up that comes with competitive bidding, but I think that competitive bidding is not necessary and not appropriate.

Like many Singaporeans, I find that the salaries paid to ministers are excessive, but that is a separate issue.

Here, we are talking about offering suitable accommodation to ministers at a market rental, and giving them the preference to pick a bungalow of their choice.

I know that many people will not agree with my view, but I still want to express what I think is right and proper. It is just an insignificant view.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5715

WOTC - Health sector

 Wisdom of the Crowd: 92 % of respondents said that it is necessary to increase the resources due to a larger and aging population.

https://tklcloud.com/Crowd2/chart3.aspx?id=2895

WOTC - Treatment in public hospitals

 Wisdom of the Crowd: 100% of respondents said that the treatment time in public hospitals should be reduced as the patients should not be required to spend time waiting to be treated.

https://tklcloud.com/Crowd2/chart.aspx?id=2894

WOTC - Bus services

 Wisdom of the Crowd: 83% of respondents said that the bus services should be optimized to reduce cost and fares.

https://tklcloud.com/Crowd2/chart3.aspx?id=2893

Why are scammers active in Singapore

 https://tklcloud.com/Feedback/feedback2.aspx?id=5714

Wisdom of the Crowd - New Issues

1. Should the president call a COI to study rental of the Ridout bungalows?
2. Should the SLA inform the public about the rental of the Ridout bungalows?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

Wisdom of the Crowd - New Issues

1. Should LTA cut down waste in bus services?
2. Is the acceptable to spend three hours to be treated in a public hospital?
3. Should more resources be put into the health sector?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - US banks

 Wisdom of the Crowd: 55% of respondents expect more US banks to collapse when interest rate remains high.

https://tklcloud.com/Crowd2/chart3.aspx?id=2890

WOTC - US interest rate

 Wisdom of the Crowd: 50% of the respondents expect US interest rate to remain high. The other 50% expect the interest rate to fall soon.

https://tklcloud.com/Crowd2/chart3.aspx?id=2891

Long time to be treated

 I share my experience as a public patient in the Singapore National Eye Center. 
https://tklcloud.com/Feedback/feedback2.aspx?id=5713

Bad scheduling of buses

 I share this feedback about the bad scheduling of buses in Singapore.
https://tklcloud.com/Feedback/feedback2.aspx?id=5712

Top holdings of Berkshire Hathaway

 Here are my views on the top 5 stocks in the portfolio of Berkshire Hathaway (managed by Warren Buffet).

https://fisca.sg/ArticleDisplay.aspx?ID=1329

Inflation will remain high

 Many US banks, including the large ones, are in financial trouble. They have lent a few trillion dollars in 30 year mortgages at fixed interest rates of 3% or less. Based on the current high interest rates, the value of their mortgages could have fallen by 30% or more. The loss is staggering.

The banks are able to mark these mortgages as "held to maturity". They can spread out their losses over the next 30 years, but it will still be a painful loss.

If there is a large withdrawal of deposits, they have to sell off their mortgages at steep loss to pay the depositors. They have to recognize the losses immediately.

Not all banks are caught in this financial crisis. Some may be less exposed than others. However, if some of the more exposed banks fail, they will affect the other banks due to "contagion". The whole banking system could be in crisis.

To avoid the fall of the banking system, the US Fed will have to lower their interest rate and allow inflation to remain high. The high inflation will mean that the ordinary people will pay for the losses through higher cost of living.

This is not fair to the ordinary people, but it is likely to be the outcome. I cannot see anyway that it can be avoided as the alternative is a collapse of the banking system, which will be disastrous.

The banks in Singapore are less exposed to this financial crisis, compared to the US banks. The Singapore banks do not offer long term mortgages at fixed interest rate. Some may fix the interest rate for up to 3 years, but the interest rate will be adjustable, i.e. floating, after this initial period.

The floating rate mortgages protect the banks from the fall in the property values (due to high interest rate). However, it does not protect the owners, who have to bear the loss. The owners who cannot afford the higher interest rate have to give up their property at large losses. It will impact the economy and the property market badly as well.

If the US Fed lower the interest rate to protect the banking system, it is likely that other countries will follow. The global economy will have a long period of high inflation, but it is probably better than a collapse of the banking and financial system.

Disclaimer - this is a personal view. I may be wrong.

Tan Kin Lian

http://tklcloud.com/Feedback/feedback2.aspx?id=5711

WOTC - Electricity tariff

 Wisdom of the Crowd: 75% of respondents said that Singapore should follow Thailand's example and reduce electricity tariff due to the hot climate.

https://tklcloud.com/Crowd2/chart3.aspx?id=2888

WOTC - Death sentence on drug trafficking

 Wisdom of the Crowd: 58% of respondents said that we should be flexible in dealing with the actual circumstances, especially when poor people are ticked to become traffickers.

https://tklcloud.com/Crowd2/chart3.aspx?id=2887

Ride hailing operators

 Here are the financial results of 5 operators of ride hailing services.

https://fisca.sg/ArticleDisplay.aspx?ID=1328

EV and battery manufacturers in China

 Here are the financial figures for the electric vehicle and battery manufacturers in China.

https://fisca.sg/ArticleDisplay.aspx?ID=1327

Review of Tesla stock

 I have US $1,070,000 invested in 5,300 shares of Tesla. It is now showing a loss of 17%.

I expect the stock price to recover by the end of 2Q and to show a profit by the end of 2023.
https://fisca.sg/ArticleDisplay.aspx?ID=1326

WOTC - Increase in ABSD

 Wisdom of the Crowd: 64% of the respondents support the huge increase in ABSD to cool down the property market.

https://tklcloud.com/Crowd2/chart3.aspx?id=2886

Wisdom of the Crowd - New Issues

1. DPM's speech at May Day Rally, 2023
2. Will US banks collapse?
3. Will US interest rate remain high?
4. Will the property market in Singapore remain strong?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Peace in Ukraine

 Wisdom of the Crowd: 75% of respondents said that it would be difficult for China to help find peace in Ukraine.

https://tklcloud.com/Crowd2/chart3.aspx?id=2885

WOTC - New citizens

 Wisdom of the Crowd: 62% of respondents said that new citizens should serve National Service like local citizens.

https://tklcloud.com/Crowd2/chart3.aspx?id=2884

WOTC - Proficiency in English

Wisdom of the Crowd: 77% of respondents said that new citizens should be proficient in English to be able to integrate with the local population. 

https://tklcloud.com/Crowd2/chart3.aspx?id=2883

WOTC - Seats in bus

 Wisdom of the Crowd: 71% of respondents said that it is bad to have seats facing each other in a bus.

https://tklcloud.com/Crowd2/chart3.aspx?id=2882

Twitter copies Tik Tok

 Twitter changed their screen recently. The "Home" screen now shows two tabs "For You" and "Following".

I think Twitter copied the successful screen of Tik Tok.

Instead of China copying America, now America copies China.

Hehehe.

Tan Kin Lian

Living in Forest City

 I share my experience of living in Forest City
https://tklcloud.com/Feedback/feedback2.aspx?id=5708

WOTC - 3,500 wealthy millionaires

 Wisdom of the Crowd: 64% of the respondents had a negative view towards the news report that 3,500 wealthy millionaires are expected to become citizens of Singapore in 2023. They said that it would increase the cost of living.

https://tklcloud.com/Crowd2/chart3.aspx?id=2881

WOTC - Role of opposition in a democracy

 Wisdom of the Crowd: 79% of the respondents, in response to Lawrence Wong's remark that the government welcomes the role of the opposition in a democracy, said that Lawrence Wong talks only, but behaves differently.

https://tklcloud.com/Crowd2/chart3.aspx?id=2880

Vote on these issues

 Vote on these issues in the Wisdom of the Crowd

https://tklcloud.com/crowd2/active_issue.aspx

Wisdom of the Crowd - New Issues

1. Will China be able to help find peace in Ukraine?
2. Increase in ABSD for purchase of private property
3. Mandatory life sentence for drug traffickers
4. Thailand reduced electricity rates due to the hot climate

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Change of prime minister

 Wisdom of the Crowd: 54% of the respondents said that things will get worse when there is a change of prime minister in Singapore.

https://tklcloud.com/Crowd2/chart3.aspx?id=2879

WOTC - Issues in Singapore

 Wisdom of the Crowd: 93% of respondents said that there are many issues in Singapore that remained hanging for a long time, and things are getting worse.

https://tklcloud.com/Crowd2/chart3.aspx?id=2878

Simba made it difficult to cancel a line

 1. I made a post in Facebook that Simba had a bad practice in making it difficult for a customer to cancel a mobile line. They do not provide the "Cancel Line" function in their app or in their website, and also did not allow me to stop the monthly payment from my Simba wallet.

2. I had to make a Google search and found a 2 page physical form that I had to complete and submit it by email or visit to their office. As I do not have a scanner, it was difficult for me to submit the form (which I had to print out on paper and complete it).

3. I posted my experience, and state that it is a bad business practice for Simba to give this kind of trouble to a customer who needs to cancel a line.

4. I received several comments from other customers who agreed that the business practice was bad, and they encountered the same problem.

5. I received the following comments that disagreed with my post:

a) One said that they found the Simba line to be good
b) Another said that the price of the Simba line is attractive.
c) Another said that it was not difficult to complete the process to cancel the line and showed how it could be done.
d) Another said that Simba allowed a customer to cancel the line by sending an email to state the phone number and he had done it.
e) Another said that Mr. Tan frequently complained. (This person was banned for making this rude statement and personal smear).

6. I found the comments under para 5 to be irrelevant to my post. While they may like the Simba line, they should also be aware that some customers, like me, do not need the line and wish to cancel it. It is a bad practice, and is unacceptable, for Simba to make it troublesome for the customer to go through the painful process. Simba could have provided a function in their app or website for the customer to make this request.

7. In a reply from Simba, they said that the balance in my Simba wallet will not be refunded. I consider it it to be confiscation of my money and will take Simba to court on this matter (even if they have stated this in their terms and conditions).

8. I have found the price of the Simba line to be quite attractive ($5 for a senior plan) and the service to be acceptable. That is beside the point. It is not acceptable for Simba to make it difficult for a customer to cancel a line. 

9. Some people commented that other mobile operators also made it difficult for their customers to cancel a line. That is also irrelevant. This bad business practice should be stopped. 

10. I intend to make a complaint with the relevant authority (which I presume is IMDA). They cannot allowed their licensed operators to impose unacceptable business practices. 

Tan Kin Lian

WOTC - Pricing of new HDB flats

 Wisdom of the Crowd: 56% of the respondents said that land prices should be removed from the pricing of new HDB flats to make them affordable.

https://tklcloud.com/Crowd2/chart3.aspx?id=2877

Wisdom of the Crowd - New Issues

1. Should new citizens be proficient in English?
2. Should new citizens be required to serve National Service?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Change COE

 Wisdom of the Crowd: 54% of respondents said that the COE should be changed to have stable prices set by the government. 38% said that it should be totally removed.

https://tklcloud.com/Crowd2/chart3.aspx?id=2876

WOTC: Donald Trump in 2024

 Wisdom of the Crowd: 42% of the respondents expect Donald Trump to win the Republican nomination for 2024.

https://tklcloud.com/Crowd2/chart3.aspx?id=2875

Wisdom of the Crowd - New Issues

1. DPM Wong - the govt welcomes the role of the opposition in a democracy
2. 3,500 wealthy millionaires are expected to be Singapore citizens in 2023
3. Buses with seats facing each other

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Charges against Donald Trump

 Wisdom of the Crowd: 67% of the respondents said that Donald Trump will be found guilty of the charge that is levied against him by the New York prosecutors.

https://tklcloud.com/Crowd2/chart3.aspx?id=2874

WOTC - Peace in Ukraine

 Wisdom of the Crowd: 50% of the respondents said that China will be able to help achieve peace in Ukraine. The other 50% said that China will be unable to achieve this goal.

https://tklcloud.com/Crowd2/chart3.aspx?id=2873

WOTC - Macron's visit to China

 Wisdom of the Crowd: 67% of respondents said that the visit of Macron to China was a success as it strengthened relations between China, France and the European Union.

https://tklcloud.com/Crowd2/chart.aspx?id=2872

Can a Malaysian buy property in Singapore?

 Reply

Malaysians are allowed to buy certain types of property in Singapore, subject to certain conditions and regulations.

Under the Residential Property Act, foreigners are generally not allowed to purchase landed properties in Singapore, with the exception of those who are permanent residents or citizens. However, foreigners including Malaysians are allowed to buy certain types of non-landed properties, such as apartments and condominiums, subject to certain restrictions.

Foreigners who are not permanent residents or citizens of Singapore may be subject to certain additional requirements, such as obtaining approval from the relevant authorities for the purchase of a property that is subject to restrictions under the Residential Property Act. It is always recommended that foreign buyers consult with a qualified lawyer or property agent in Singapore to ensure they understand and comply with all applicable regulations and requirements.

Tan Kin Lian

Friendly and helpful Malaysians

 On my 3 hour journey from Gelang Patah to my home, I had to take the bus on 3 legs. For the first 2 legs (from Gelang Patah to 2nd link CIQ and then to Tuas CIQ), I had to ask other passengers or the counter staff for information on the bus to take, the place to wait for the bus and the waiting time.

I found the Malaysians to be polite and helpful. They were sincerely helpful. For the Chinese, I spoke in Mandarin and for the Indians and Malays, I spoke in English and sometimes in Malay. I appreciated their help.

On boarding the bus, I had to pay RM 4.50. I had RM 10 and the driver could not give change. The passenger behind me immediately gave me his RM 5 and asked me to pay the RM 10 for both of us. That save me RM 5.

I thanked him and he said that it was all right.

I found many Singaporeans to be generally helpful also, but there are some nasty ones, such as the people who make nasty comments now and then.

Tan Kin Lian

Grab app and outdated warnings

 I booked Grab to take me from Forest City to 2nd link CIQ.

A driver took my booking and the app said that she would appear in 4 mins. Later, it was changed to 8 mins and, after waiting for 5 mins, the pick up time was changed to 15 mins. I cancelled the call.

I made another booking. The app said that the driver was nearby, in Forest City, but he took over 10 mins to arrive. It should take only 2 mins.

I learned later that he was living in Forest City and had rented an apartment for RM 500 a month.

The Grab app sent me warning a message several times that it was compulsory to wear a mask. I searched for a mask that I carried in my bag.

When the driver arrived, he was not wearing a mask. I left the mask in my pocket as it was not necessary. The app was clearly outdated, and it continued to impose a useless and troublesome requirement.

Most people do not wear a mask in Johor now. I hardly see anyone wearing a mask in the malls or buses.

It is easy for the government to issue the mask mandate, but they do not seem to be taking the trouble to remove the mandate when it was no longer required.

I wondered why the IT developers in Grab continued to keep the useless message in their Malaysian app.

Tan Kin Lian

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1Tan Kin Lian

Wisdom of the Crowd - New Issues

1. Are there many issues that need to be fixed in Singapore?
2. Will things get better when there is a change of prime minister?

Vote in
https://tklcloud.com/Crowd2/vote.aspx

WOTC - Retaliatory sanctions

 Wisdom of the Crowd: 70% of respondents said that China should retaliate against sanctions by western countries in a reciprocal manner.

https://tklcloud.com/Crowd2/chart3.aspx?id=2871