Lazada and Shoppe

 Lazada and Shopee are engaged in a struggle for market share in the e-commerce business.

Both companies are making big losses. In the case of Shopee, the loss is horrendous.

https://www.facebook.com/kinlian/posts/pfbid035p97wEbZjfyCvmMYYrD5ZP462NbXgSTsnmsnbWGD6SSk27Jtd4Grgw6kma8DuAsyl?__cft__[0]=AZX3Z1NBvTRBVFCji7EnbbS1iSA6WqXgQ4SH7Q3vzxYHF6nFdNMVoMdj74Cmhv3-xIt77RVHK3QuGQF2Sn7EXQi_xj6WEgX0pQrZ-RSMTFpsHhqMj2kotFl2eq_Kc81-Csfbfbjn4RddCy5YNn79OVT0R15wX0tEInYrfbYBvq5lgw&__tn__=%2CO%2CP-R

Wisdom of the Crowd - New Issues

 

1. Do you support Russia's action in Ukraine?
2. What will happen to the global economic and food crisis?

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

Wisdom of the Crowd - New Issues

1. Will the Republicans win over control of Congress?
2. Will Joe Biden be re-elected as President in 2024?
3. Will Donald Trump be re-elected President in 2024?

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

Octopus card in well used in Hong Kong

 Several people told me that the Octopus card is well used in Hong Kong. My friend, who lived in Hong Kong for one year, told me that he used the Octopus card for payment for transport, restaurant and groceries. He hardly pay by cash.

By contrast, the Ez Link card and Nets Flash card is hardly used in Singapore, other than for transport. Most of the small payments are still made by cash.

https://tklcloud.com/Feedback/feedback2.aspx?id=5476

WOTC - China's response to Pelosi's visit to Taiwan

 Wisdom of the Crowd: 70% of the respondents said that China had responded appropriately to the visit by Pelosi to Taiwan.

https://tklcloud.com/Crowd2/chart3.aspx?id=2665

TKL's alternative to the COE system

 I accept that the price to get a car permit will increase according to demand. If the price is not increased, there will be a big demand for cars.

I dislike the COE system to determine the price because it introduces speculation and manipulation. I prefer the price to be set by the authority, and be adjusted gradually.

Some people object to this system because the rich people can afford the high price, and the poor will be at a disadvantage. This is a sad fact of the capitalist society.

Everyone likes to have a big, nice house, but they cannot afford to pay the high price. They have to accept a 3 room flat in the new town. This will also apply to car ownership.

If we do not set a high price for the car permit (or COE), we will have more cars on the road and congested roads. It happened in most cities around the world.

WOTC - Keep road congestion free

 Wisdom of the Crowd: 56% of respondents prefer other methods (other than COE) to reduce congestion on the roads, e.g. higher parking charges.

https://tklcloud.com/Crowd2/chart3.aspx?id=2664

WOTC - Abuse work from home

 Wisdom of the Crowd: 78% of the respondents agree that employees are likely to abuse work from home. The concern of the employer is valid.

https://tklcloud.com/Crowd2/chart3.aspx?id=2663

Promote Cashless Payment in Singapore

 Here is my latest feedback to MAS.

https://tklcloud.com/Feedback/feedback2.aspx?id=5475

I hope to get them to be interested to use SG Wallet as the platform to integrate the fragmented and silo platforms that operate in Singapore now. These platforms are difficult to use and often contained bugs.

Wisdom of the Crowd - New Issues

1. How can Singapore keep our roads congestion free?
2. Did China respond correctly to the visit by Nancy Pelosi to Taiwan?

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

WOTC - COE system

 Wisdom of the Crowd: 55% of the respondents prefer the COE system to be changed. The other 45% (mostly public transport users, I suspect) prefer COE system to be retained.

https://tklcloud.com/Crowd2/chart3.aspx?id=2661

WOTC - COE system in Singapore

 Wisdom of the Crowd: 82% of the respondents said that the COE system needs to be changed.

https://tklcloud.com/Crowd2/chart3.aspx?id=2660

Review of Senseonics (SENS)

 I missed a potential gain of 35% by failing to buy additional Senseonics stock (SENS) when it jumped by 20%. If I had invested $20,000 USD, I would have made a gain of $7,000 in one day.

https://fisca.sg/ArticleDisplay.aspx?ID=1231&Name=Review-of-Senseonics-(SENS)&View=A

Wisdom of the Crowd - New Issues

1. Are you prepared to install a CCTV at home for remote work?
2. Employers find that many employees abuse the privilege of working at home

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

WOTC - productivity of remote work

 Wisdom of the Crowd: 56% of the employees prefer to work from home and are prepared to address the employer's concern about productivity for remote work.

https://tklcloud.com/Crowd2/chart3.aspx?id=2659

WOTC - Foreign talents

 Wisdom of the Crowd: 53 % of the respondents said that Singapore should be open, but ensure that our locals are not placed at a disadvantage due to national service obligations.

https://tklcloud.com/Crowd2/chart3.aspx?id=2658

WOTC - Change COE system

 Wisdom of the Crowd: 76% of the respondents said that it is time to change the COE system to avoid the escalating COE prices and ensure a fairer distribution of the permits

https://tklcloud.com/Crowd2/chart3.aspx?id=2657

WOTC - Rishi Sunak

 Wisdom of the Crowd: 64% of the respondents said that Rishi Sunak is not likely to be the prime minister of the UK due to his ethnic background and his past financial dealings.

https://tklcloud.com/Crowd2/chart3.aspx?id=2656

Encourage banks to charge fees for cash services

 I suggest that MAS should ask the banks to increase the interest rate that they pay for savings and deposits, and to charge a fee for cash services (i.e. ATM withdrawals and cash deposits). This fee should allow the banks to recover their actual expenses in providing these cash services.

When the banks charge for the the actual cost of providing the cash services, it will encourage customers and merchants to move towards cashless payments - which are more efficient.

The merchants have to spend time to collect cash, give change, reconcile the cash collection against sales, and bank in the daily cash collections. These activities incur cost of manpower.

Many retailers have problem in employing retail assistants. By moving towards cashless payments, these retailers can overcome their labor shortages and reduce the labor costs. If the retailers have to incur high labor cost, they will have to pass the cost to customers through higher prices.

It will also overcome the problem that the retail assistants may steal some of the cash collection.

At present, the charges for cashless payments are high, i.e. 2% of transaction amounts or higher. It should be possible to reduce this charge to a more acceptable level, (say) 0.5%of transaction amount, subject to a minimum of $0.10.

If the charges for cash and cashless payments are rationalized and adjusted to a realistic level, retailers and customers will adopt a more efficient method of payment.

In Australia, some retailers refuse to accept cash and insist on card payment.

There is a fear that some customers do not have a bank account or are not able tp pay with a card payment.

They can pay with a transit card. All travelers now use a transit card to pay the fares on public transport. They are familiar with this form of payment. They can find it easy to use the transit card to pay for retail, food and beverage outlets.

We should move towards cashless card or mobile payments, instead of paying by cash.

We should take an active step towards cashless payment. It should start with asking the banks to impose a fee for cash services, so that the true cost of cash services is reflected in this form of payment.

http://www.tklcloud.com/Feedback/feedback2.aspx?id=5470

Wisdom of the Crowd: Next prime minister of the UK

 Wisdom of the Crowd: 63% of the respondents said that Liz Truss is most likely to be voted as the next prime minister of the United Kingdom.

https://tklcloud.com/Crowd2/chart3.aspx?id=2655