Saturday, June 19, 2010
Easysearch Portals
There are many useful information in the Easysearch Portal. Go to http://www.easysearch.sg/ and click on the Link tab. Select a category and view the resources.
Poor service in restaurant reservations
I wanted to reserve a table at a Tung Lok restaurant at the Esplanade. I went to their website and filled up a web form for Reservation. I provided the essential information. Nobody called me back for two days. I consider that my reservation is not accepted. I arranged to go somewhere else.
I have the same difficulty in making reservations at other restaurants. Last month, I telephoned a restaurant in a hotel in Queen Street. After much difficulty, my reservation confirmed over the telephone. When I turned up at the restaurant, there was no record of my reservation and no table was available. There was a large wedding dinner.
I hope that the larger restaurants takeing reservations should outsourse this activity to a service provider. This will ensure a better standard of service.
Tan Kin Lian
I have the same difficulty in making reservations at other restaurants. Last month, I telephoned a restaurant in a hotel in Queen Street. After much difficulty, my reservation confirmed over the telephone. When I turned up at the restaurant, there was no record of my reservation and no table was available. There was a large wedding dinner.
I hope that the larger restaurants takeing reservations should outsourse this activity to a service provider. This will ensure a better standard of service.
Tan Kin Lian
Voting swing at next general election
I wish to make a bold forecast of the swing against the PAP at the next general election.
In several recent surveys in my blog, the swing is around 50%. Nearly 90% of respondents said that they would vote for another party, compared to 35% at the last general election.
However, my blog tends to attract the people who are unhappy with the Government, i.e. those who lost money on the structuerd notes or are unemployed. So, there is a bias and their results do not represent the general population.
My bold forecast is that the swing will be 15%, after discounting the bias. This will bring down the votes for the PAP from 65% to around 50%. We can expect the next Parliament to have a larger representation from the other political parties.
This will lead to a "more accountable Parliament" with members elected to reflect the views and wishes of the people. It will be a better outcome for the future of Singapore.
Tan Kin Lian
In several recent surveys in my blog, the swing is around 50%. Nearly 90% of respondents said that they would vote for another party, compared to 35% at the last general election.
However, my blog tends to attract the people who are unhappy with the Government, i.e. those who lost money on the structuerd notes or are unemployed. So, there is a bias and their results do not represent the general population.
My bold forecast is that the swing will be 15%, after discounting the bias. This will bring down the votes for the PAP from 65% to around 50%. We can expect the next Parliament to have a larger representation from the other political parties.
This will lead to a "more accountable Parliament" with members elected to reflect the views and wishes of the people. It will be a better outcome for the future of Singapore.
Tan Kin Lian
Land banking - Look before you leap
Read this article in MAS website.
Quote
After all, where there is an opportunity for you to make some money, there is always a chance that you can lose some or all of your money. There is no free lunch. In the case of land banking, you may have seen media reports about investors losing money in land banking schemes in various countries. Some schemes have also turned out to be scams!
Unqutoe
Quote
After all, where there is an opportunity for you to make some money, there is always a chance that you can lose some or all of your money. There is no free lunch. In the case of land banking, you may have seen media reports about investors losing money in land banking schemes in various countries. Some schemes have also turned out to be scams!
Unqutoe
Plan ahead for future MRT interchange stations
Published in Straits Times Forum Page, 19 June 2010
When the MRT system was developed three decades ago, the planners did a great job in designing the interchange station at City Hall and Raffles Place. It is easy for the commuter to change train by walking to the platform within a short distance.
However, the planners did not plan ahead for the expansion of the MRT system.
When the North East and Circle Lines were developed later, the platforms for these lines at the interchange stations had to be located quite far away, due to engineering and safety issues. Commuters have to walk quite a long distance to transfer from one line to another at the Dhoby Ghaut and other interchange stations.
As we are building new lines for the MRT system, it is better to plan ahead for future interchange stations, including those that are not on the drawing board now.
I suggest that every third station on a new line should be planned ahead as an interchange station, using the design of City Hall. This will make it easy to connect a new line in the future. Although this may increase the cost marginally, it can be recouped from the cost savings in the future. The convenience to the commuters will be immense.
Tan Kin Lian
When the MRT system was developed three decades ago, the planners did a great job in designing the interchange station at City Hall and Raffles Place. It is easy for the commuter to change train by walking to the platform within a short distance.
However, the planners did not plan ahead for the expansion of the MRT system.
When the North East and Circle Lines were developed later, the platforms for these lines at the interchange stations had to be located quite far away, due to engineering and safety issues. Commuters have to walk quite a long distance to transfer from one line to another at the Dhoby Ghaut and other interchange stations.
As we are building new lines for the MRT system, it is better to plan ahead for future interchange stations, including those that are not on the drawing board now.
I suggest that every third station on a new line should be planned ahead as an interchange station, using the design of City Hall. This will make it easy to connect a new line in the future. Although this may increase the cost marginally, it can be recouped from the cost savings in the future. The convenience to the commuters will be immense.
Tan Kin Lian
Customer Service and Web Forms
Many organisations have feedback forms on their website. These forms are often ignored, giving a bad impression of the customer service standard of the organisation.
This situation can be easily addressed. The contact center should be made responsible to attend to these forms. The forms are an alternative to getting a call on the telephone. By processing the web forms, the organisation can improve the productivity of its call center as most of the essential information are entered by the customer. If any information is missing, it can be obtained by a call back to the customer.
The web from should be simple in design. It only need to ask for the name, contact number, e-mail address (optional) and a free format text box for details to be entered. All enquiries are placed in the server and marked as attended or not. This ensures that all requests are handled.
I hope that organisations will organise this additional mode to contact the call center. It will improve the standard of customer service in Singapore.
Tan Kin Lian
This situation can be easily addressed. The contact center should be made responsible to attend to these forms. The forms are an alternative to getting a call on the telephone. By processing the web forms, the organisation can improve the productivity of its call center as most of the essential information are entered by the customer. If any information is missing, it can be obtained by a call back to the customer.
The web from should be simple in design. It only need to ask for the name, contact number, e-mail address (optional) and a free format text box for details to be entered. All enquiries are placed in the server and marked as attended or not. This ensures that all requests are handled.
I hope that organisations will organise this additional mode to contact the call center. It will improve the standard of customer service in Singapore.
Tan Kin Lian
Friday, June 18, 2010
Good customer service (SMRT Taxi)
I experienced good customer service at SMRT Taxi. I called their hotline. They asked me to enter my postal code (if I wanted to get a taxi) or press a number to speak to a person. The call was answered immediately. The staff took down my name, e-mail address, telephone number and nature of my enquiry. I get an e-mail reply from the relevant staff within one hour.
I commend SMRT Taxi for this excellent service. It is easy and prompt. Many big organisations can follow this simple approach to improve customer service significantly, and at no extra cost.
Tan Kin Lian
I commend SMRT Taxi for this excellent service. It is easy and prompt. Many big organisations can follow this simple approach to improve customer service significantly, and at no extra cost.
Tan Kin Lian
Bad customer service (Maybank)
I experienced bad customer service with Maybank. I sent a fax to their Johor Bahru Main branch to send me a new cheque book. They did not respond after a week. I called their number. Nobody picked up the phone. I tried with 4 other numbers. It was not answered.
I called their KL contact center. I went through the automated mesages and finally managed to speak to an officer taking complaints. She said that I have to call the Johor Bahru Main branch and give me two new numbers to call. I tried several times, but nobody pick up the phone.
I called the KL contact center again, and lodged a complaint about the bad customer service. I insisted that they take down my complaint and tell the Johor Bahru branch to call me back. She ageed. She was patient and helpful. I commend her.
Many big organisations had bad customer service due to bad operating procedures, which are unfriendly to customers. The customers who have to wait for a long time on a telephone that is never answered. A better solution is to allow the customer to give their name, e-mail, contact number and request in a web based form. The call center can also used this form to enter down the key details. This will allow the relevant staff to call back the customer when they are free.
Tan Kin Lian
I called their KL contact center. I went through the automated mesages and finally managed to speak to an officer taking complaints. She said that I have to call the Johor Bahru Main branch and give me two new numbers to call. I tried several times, but nobody pick up the phone.
I called the KL contact center again, and lodged a complaint about the bad customer service. I insisted that they take down my complaint and tell the Johor Bahru branch to call me back. She ageed. She was patient and helpful. I commend her.
Many big organisations had bad customer service due to bad operating procedures, which are unfriendly to customers. The customers who have to wait for a long time on a telephone that is never answered. A better solution is to allow the customer to give their name, e-mail, contact number and request in a web based form. The call center can also used this form to enter down the key details. This will allow the relevant staff to call back the customer when they are free.
Tan Kin Lian
Buying Cash Value Insurance
Read this article. A consumer ask about a cash value insurance that he is considering. There are many interesting and educational comments from other readers about this product. These comments generally apply to Singapore as well.
Thursday, June 17, 2010
Signage at the Circle Line
I can only guess that the lights were dimmed during the first stage when the line served Bishan to Serangoon. The line had been extended to Marymount for nearly one year and still the lights have not been fixed. What is the reason?
I take the Circle Line only a few times and observed this situation. But there are many commuters who take taking this line daily. Why did they not raise this matter? What about the employees working at the stations?
Is this the state of apathy in Singapore? If so, it would be quite worrisome!
Tan Kin Lian
Accident Photos
If you meet with an accident, please take photos of the damages to both vehicles and send them to your insurance company. You should also keep the photos in your e-mail server for future retrival. If you like an additional place to store the photos, you can use the e-mail account indicated in this document. Read the instructions.
Donation to FISCA
An anonymous reader criticised me for asking for the donation of $1,000 (in return for accepting an invitation to listen to a presentation by a land banking company) to be given to the Financial Services Consumer Association (FISCA). He said that I headed FISCA and that it is more proper for the money to be donated to a charity.
FISCA is a volunatary, non-profit association of members, with the goal to educate the pubmic on financial matters, so that they can void being cheated on their investments in bad financial products. It needs funds to operate and pay its expenses.
I hope that the public will donate to FISCA and also be its members.
Go to http://www.fisca.sg/.
.
FISCA is a volunatary, non-profit association of members, with the goal to educate the pubmic on financial matters, so that they can void being cheated on their investments in bad financial products. It needs funds to operate and pay its expenses.
I hope that the public will donate to FISCA and also be its members.
Go to http://www.fisca.sg/.
.
Selective repayment
A land banking compay paid off an investor who gave them a lot of trouble earlier but had agreed to cool off for a month. This amount invested was less than $30,000. Other investors in the same product had been waiting for more than one year, without being repaid. Presumably, they were not so troublesome or had invested a large sum of money.
This company is practicing "divide and conquer". By paying off some investors, who would then tell the other investors, it might motivate the other mitigant investors to be more compliant, in the hope that they would be repaid.
This seemed to me like highway robbery.
A month ago, another investor wrote to me to tell me that she had invested in land banking plots and was quite convinced about the merits of land banking. I knew this investor to be quite sound in financial matters and was quite surprised at her views. I wonder if she was also being paid off in this manner, in return for being an ambassador?
What has become of Singapore, for a company to take large sums of money from the public, to act in this manner, to be protected by a reputable lawyer firm and to practice selective repayment of their obligations?
Tan Kin Lian
This company is practicing "divide and conquer". By paying off some investors, who would then tell the other investors, it might motivate the other mitigant investors to be more compliant, in the hope that they would be repaid.
This seemed to me like highway robbery.
A month ago, another investor wrote to me to tell me that she had invested in land banking plots and was quite convinced about the merits of land banking. I knew this investor to be quite sound in financial matters and was quite surprised at her views. I wonder if she was also being paid off in this manner, in return for being an ambassador?
What has become of Singapore, for a company to take large sums of money from the public, to act in this manner, to be protected by a reputable lawyer firm and to practice selective repayment of their obligations?
Tan Kin Lian
Flood at Orchard Road
Someone wrote to me to link the flood at Orchard Road to the Marina Barrage. I do not understand how this could be the cause of the flood. However, it does appear that there were two serious floods in Singapore in recent years, i.e. the flood at Bukit Timah and now at Orchard Road. We used to have good drainage sysem in Singapore, but this seemed to have deteriorated. Can the experts share your views?
Tan Kin Lian
Tan Kin Lian
Wednesday, June 16, 2010
Blogs and ballot box
Question: Voters may complain on many issues but when they are at the ballot box, they will vote for stability and economic progress. Do you agree? (The survey is now closed).
Here is the final report based on 100 replies. The results are almost the same as the earlier report based on 50 replies.
The survey suggests a 37% swing against the PAP but this is from a group that is largely unhappy with the PAP. If this is extrapolated to the general population, the swing could be (just my guess) between 10% to 15%.
Here is the final report based on 100 replies. The results are almost the same as the earlier report based on 50 replies.
The survey suggests a 37% swing against the PAP but this is from a group that is largely unhappy with the PAP. If this is extrapolated to the general population, the swing could be (just my guess) between 10% to 15%.
Invitation by Land Banking Company
INVITATION TO X GROUP, SINGAPORE
Dear Mr. Tan,
I would like to personally extend a warm invitation to you to visit our office so that I can introduce you an objective insight to X's business model.
With your keen interest to help educate Singaporeans on land investments, I believe this session will provide you with a more in depth understanding of X's expertise in pre-development land investing and what distinguishes and sets us apart as a company from the rest.
REPLY
Thank you for your warm invitation.
I will attend your invitation on the following understanding
1. X will donate $1,000 to the Financial Services Consumer Associatoin
2. The presentation will be for up to two hours.
3. I can bring along three other persons to attend the presentation - they are from the Association and from land banking investors
4. I will keep an open mind to listen to your business model but will be free to form my own independent opinion
5. You will answer our questions transparently.
Let me have your views.
Dear Mr. Tan,
I would like to personally extend a warm invitation to you to visit our office so that I can introduce you an objective insight to X's business model.
With your keen interest to help educate Singaporeans on land investments, I believe this session will provide you with a more in depth understanding of X's expertise in pre-development land investing and what distinguishes and sets us apart as a company from the rest.
REPLY
Thank you for your warm invitation.
I will attend your invitation on the following understanding
1. X will donate $1,000 to the Financial Services Consumer Associatoin
2. The presentation will be for up to two hours.
3. I can bring along three other persons to attend the presentation - they are from the Association and from land banking investors
4. I will keep an open mind to listen to your business model but will be free to form my own independent opinion
5. You will answer our questions transparently.
Let me have your views.
Keep your existing life policy
Hi Mr Tan,
I bought a poilcy in 1998 to cover critcal illness for 100k. I pay $2200 yearly ( $1600 and $600 for the rider) under a Prime Life policy.
I have to pay till the end of time (i.e. death) for this coverage. Recently was shown another policy which I only pay 20 yrs ... for about the same coverage.
It is strange that the investment outlook was better 12 years ago compard to now and interest rate was much higher, and yet the insurance company can introduce a better produuct now..
If I terminate the plan, I will lose 10k.... but if I keep paying I will breakeven estimated at year 25. Should I change to the new policy?
MY REPLY
My advice is: never terminate an existing life policy to buy a new policy. You will be paying the high upfront cost all over again.You are right that it is not a good idea for the consumer's point of view. It is sad that the insurance agent want to earn commission at the expense of the customer, by asking the customer to switch to a new policy.
I have explained the reason in my book, Practical Guide on Financial Planning. I hope that you have bought it and will read it. Also, you can introduce my book to your family and friends and encourage them to read it. The book can be bought at www.easysearch.sg/ishop
I bought a poilcy in 1998 to cover critcal illness for 100k. I pay $2200 yearly ( $1600 and $600 for the rider) under a Prime Life policy.
I have to pay till the end of time (i.e. death) for this coverage. Recently was shown another policy which I only pay 20 yrs ... for about the same coverage.
It is strange that the investment outlook was better 12 years ago compard to now and interest rate was much higher, and yet the insurance company can introduce a better produuct now..
If I terminate the plan, I will lose 10k.... but if I keep paying I will breakeven estimated at year 25. Should I change to the new policy?
MY REPLY
My advice is: never terminate an existing life policy to buy a new policy. You will be paying the high upfront cost all over again.You are right that it is not a good idea for the consumer's point of view. It is sad that the insurance agent want to earn commission at the expense of the customer, by asking the customer to switch to a new policy.
I have explained the reason in my book, Practical Guide on Financial Planning. I hope that you have bought it and will read it. Also, you can introduce my book to your family and friends and encourage them to read it. The book can be bought at www.easysearch.sg/ishop
Long term investing
Here are some secrets and tips. Ignore the stock market. Don't watch TV. And more.
Criticism of politicians
Dr. Mahathir explains why he will not sue the author of a book that criticises him. Read this article.
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