Verified profiles

The authority in each country should set up a database of verified profiles for posting and commenting in social media. 

 https://tklcloud.com/Feedback/feedback2.aspx?id=6146

Singapore people pays too much taxes

 The people of Singapore have to pay many layers of direct and indirect taxes.

The direct taxes are income tax, goods and services tax, vehicle taxes (including COE, road tax, petrol tax, parking fees and ERP), levy on foreign maids, taxes on liquor, tobacco, gambling and stamp duties.

Some of these taxes, such as COE and stamp duty on properties are big ticket items.

The indirect taxes are the low interest rate paid on Central Provident Fund savings (where the excess earnings become revenue to the government) and the high cost of housing (where a large part of the cost is revenue to the government).

The sale of state land is another large source of revenue to the government but it is accounted separately.

The government collects more revenue than is needed to provide the public goods. It generates a large surplus in most years, which are transferred to the national reserves or to various endowment funds (which are difficult to keep track of).

The alternative to generating a large surplus is to reduce the tax burden and lower the cost of living borne by the people.

Some of the government spending are unnecessary (such as the $550 million on ERP 2.0) or excessive (such as the very high salaries paid to political office holders). There are many other examples that have been quoted elsewhere

As the ordinary people struggle with the high cost of living, they should send a strong message in the coming general election that they want this important bread and butter issue to be addressed at its root cause.

Tan Kin Lian

Look beyond personal circumstances

 There are many people, especially among the better educated, who have accumulated some wealth over the past decades, and could comfortably afford the high cost of living today. I belong to this group.

However, I look beyond my personal circumstances and worry about the large numbers of people in our society, who have not accumulated sufficient savings and wealth, and cannot afford the high cost of living.

I also worry for the future generations who will not have the opportunities available to the earlier generation.

It is important that we elect a government that will address the root cause of the high cost of living, instead of giving small amounts of various vouchers that are inadequate and costly to administer.

Tan Kin Lian

Secure platforms to receive genuine messages

 I suggest that the government should build a secure platform for government agencies and approved commercial organizations tto send genuine messages, and prevent scammers from sending fake messages.

https://tklcloud.com/Feedback/feedback2.aspx?id=6143

Challenges for the prime minister

 The CNA headline said.

Handing over Singapore in good order: The legacy of Lee Hsien Loong

Singapore’s third Prime Minister Lee Hsien Loong’s tenure has left its mark on the political and societal landscape of Singapore, with a pivot towards a softer, more collaborative approach to governance, analysts say.

TKL has a different view. This is a bad time for Lawrence Wong to take over. Singapore has a high cost of living. Many people are not able to get a well paying job that is sufficient to meet the high cost of living and high cost of housing.

Many businesses are also facing difficulties and have to retrench their workers or move to low cost countries.

The geopolitical conflicts will harm the world economy and that will affect Singapore badly.

It will not be easy for the new prime minister. Still, I wish him all the best.

Tan Kin Lian

High tax rates

 I prefer a country to have high tax rates, so that the public services can be provided for free or at low cost.

https://tklcloud.com/Feedback/feedback2.aspx?id=6142

CSI 300 (top China stocks)

 If you are interested in invest in the top blue chip stocks in China, you can buy the CSI 300 tracker fund listed in Hong Kong (under the symbol 3188.HK

https://tklcloud.com/Feedback/feedback2.aspx?id=6140

Review of portfolio - 11 May 2023

 I held 80% of my porttfolio in China stocks. It appreciated by 3.5% yesterday.

https://tklcloud.com/Feedback/feedback2.aspx?id=6138

Green energy stocks in China

 I have invested in these 3 green energy companies in China.

https://docs.google.com/document/d/1J5TenvDprZg1Y0LZQt03p6eQcVIHpU7owch1avf_tgM/edit?usp=sharing

China stocks

 I invested in the China stocks with low price earning ratio (below 7 times) and good dividend yield (above 3%).

Here are the stocks that I invested. https://tklcloud.com/Feedback/feedback2.aspx?id=6137

Update on Country Garden

 I invested S$262,000 in Country Garden (2007.HK) and now see a loss of S$125,000.The stock is now suspended from trading.

Here is an update.

https://tklcloud.com/Feedback/feedback2.aspx?id=6135

Update on Baidu (0988.HK)

 I invested about S$420,000 in Baidu stock (0988.HK) a month ago. It dropped 7% (loss of S$30,000) and has since recovered and shown a profit.

Detail here:
https://tklcloud.com/Feedback/feedback2.aspx?id=6134

Mobile payment in China

 I share my experience in installing Alipay to make mobile payment in China, using a credit card issued in Singapore. 

https://tklcloud.com/Feedback/feedback2.aspx?id=6133

ERP 2.0

 I see some potential issues with ERP 2.0

https://tklcloud.com/Feedback/feedback2.aspx?id=6132

A new approach towards recruitment

 I suggest a new approach to recruit staff and workers.

https://tklcloud.com/Feedback/feedback2.aspx?id=6130

Review of Tesla stock

 Here is my latest view on Tesla. I now hold only 1 share. I prefer to wait a few months before reinvseting in this stock. provided that there are positive developments on their market position on electric vehicles and on the launch of new products.

https://tklcloud.com/Feedback/feedback2.aspx?id=6129

Trusted messages

 I am proposing to GovTech a platform to receive trusted messages from govt agencies and approved commercial organizations. 

https://tklcloud.com/Feedback/feedback2.aspx?id=6128

Special access card for cross border workers

 I suggest that a special access card be issued to cross border workers and a special access gate be set up for their use.

https://tklcloud.com/Feedback/feedback2.aspx?id=6127

My experience as an actuarial trainee

I share my experience as an actuarial trainee, which is like an apprenticeship

 https://tklcloud.com/Feedback/feedback2.aspx?id=6126

Planning and the free market

 I give my views about planning and the free market.

https://tklcloud.com/Feedback/feedback2.aspx?id=6125