How to replace cheque payments

78 million cheques are cleared through the banking system in Singapore a year. This works out to an average of 18 cheques per person. This number must be higher than most other countries in the world.

With the availability of electronic payments, there is no need for so many cheques to be used. It is time consuming and costly, considering the time spent to write and mail the cheque, for the receiving party to receive and bank in the cheque, and for the bank to enter the transactions for clearing.

While there are several ways to make electronic payments, e.g. GIRO, internet banking, AXS and SAM, these channels are used mainly for regular payments to large organizations. They are not suitable for once-off payments to small businesses, which now use cheques to make and receive most of their payments.

I suggest that our banks in Singapore make the following changes to allow more people to make payments using their ATM or internet banking facilities:

a) allow the payer to make an electronic payment to a bank account number and view the name of the receiving party

b) allow the payer to enter a number, e.g. the invoice number or customer number,to identify the payment

c) allow the receiving party to download details of these payments, and view the name of the payer

These changes may require some of the existing regulations of the Monetary Authority of Singapore (MAS) to be changed, e.g. to disclose the name of the other party in the transaction. 

Most banks should be able to implement these changes  to their existing systems quite easily and at a low cost. If the changes are made, most people would prefer to use the electronic payments, instead of cheques. This change can be accelerated if banks are allowed to levy a fee for the use of cheques, which is more costly for them to process.

The United Kingdom have set a target to eliminate the use of cheques by 2018. I urge our MAS to take the lead, so that Singapore can largely, if not entirely dispense with the use of cheques at an earlier date.

Potential investment scam

A Poly student consulted me about this investment. He was introduced by his friend to two companies which made  vague presentations promising high return through landing bank, convertible bonds and pre-IPO shares allotted through private placement.  

He carried out his research on these two companies and their management from their websites and had a hunch that this could be another Ponzi scheme. Several of his friends and other teenagers that had invested tens of thousand of dollars into these companies. If this is a scam, he wanted them to be stopped before more people are caught in it.

I told him to collect evidence of the investments made by his friend. There is a law that issue of shares to the public require approval to be obtained from the Monetary Authority of Singapore These two companies could be breaking the law.

Be more gracious

Alex Au has written this excellent article about what is needed to make Singaporeans more gracious and generous.
http://yawningbread.wordpress.com/2012/12/22/singaporeans-stressed-out-by-strangers-smiles/

Yield on a life annuity

Here is a simple way to calculate the yield on a life annuity.
http://tankinlian.com/admin/file.aspx?id=717&IID=723

US fiscal cliff and the relevance to Singapore

This is an excellent article explaining the need for change, and for political leaders to exercise leadership to change and compromise.
http://singaporemind.blogspot.sg/2012/12/the-genius-in-us-fiscal-cliff-and.html

Damage caused to former employee

 The chief executive director of the Peoples’ Association (PA) has asked the public 

to give space to the former staff of the PA who was involved in “an intimate relationship” with 

a former Member of Parliament and had since resigned. The chief asked that she be allowed 

to continue with her life. (Today paper, 17 December)

It was not necessary for the PA to disclose her name in the first place. The reason given for 

the decision to disclose her name was not acceptable, in my view. Her relationship with the 

former MP was a private and personal matter, and (to my knowledge) did not affect her 

work performance or caused any conflict of interest.

By disclosing her name, the PA had caused distress to the former staff and made her 

a subject of ridicule and shame. I believe that the PA owed an apology to her and possibly, 

some compensation for her distress and financial loss.

I have deliberated omitted to mention her name in this letter, and I ask other people in 

Singapore to respect her privacy. If there are any blogs that were put up with her photos, can 

the creator remove them?

Tan Kin Lian

Restructure public transport operations

To achieve better economy of scale, efficiency and competition, all train services should come under SMRT and all bus services should come under SBS. 
The competition should be between travelling by train and by bus. I now opt to travel by bus, rather than train, where possible.
The current system, where SMRT and Delgro operate both trains and buses does not enhance competition, and lead to inefficiency. 
What are your views?

Governance of town councils

What are your views on the issues covered in this report?
http://www.todayonline.com/CommentaryandAnalysis/Commentary/EDC121220-0000039/Improving-the-governance-of-town-councils

I do not like the current system of tying up the management of town councils to the MPs who have been elected for the town. I prefer that they should be kept as separate issues. The residents deserve continuity and should not be disrupted with a change of their representatives in Parliament.

Issue of shares without a prospectus

Dear Mr Tan

I attended a presentation at Orchard Road.  It was an impressive presentation. It showed the company directors receiving awards for their individual achievements from government ministers and picture taken with a former President.

This company dealt with oil palm, fisheries and property development in Malaysia and Indonesia. The company is offering convertible preference shares. The minimum subscription is for 3,000 shares at $10 per share. The investor needs to deposit 10% and pay $499 for admin fees. 

The investment guarantees a return of 7% annually for 3 years. If the investor signs up on another day, the price  will be $12 per share and the return is reduced to 4% annually. They claimed to have approval from MAS, but did not give me any prospectus.

Is this a scam?

Thomas

REPLY

Under the securities law in Singapore, any offer of shares require the issue of a prospectus that has been registered and approved by the MAS. You should file a police report.

Disgraceful activity

I suspect that a few members of the internet brigade of a certain political party are active in my Facebook.

Their mode of operation is as follows:
a) They do not provide a photo or a fake photo. There are no personal details.
b) If they find any view that suggest that things are not doing well, they will give a counter attack by being defensive of the status quo.
c) They will make a personal attack or criticize my view, and even interpret my view in their way and then attack it.

When I make observations of developments in other countries that Singapore can emulate, they attack my suggestion.

I find it a disgraceful for a respected political party to have its brigade to conduct this type of negative activity. It is better for people to have an open discussion, rather than to blindly express views to support a political dogma. Their behavior remind me of the "dogs" that were raised by the dictator Napolean in the novel, "Animal Farm".

Time to do away with checks

Many consumers can pay regular bills to a few large companies, such as utility companies, using GIRO, AXS, SAM or similar channels.

However, they are not able to use these channels to make once-off payments to small companies. These payments have to be made by check. Small business also use checks for their payments.

I suggest the following changes be made to allow more payments to be made using electronic means to replace the use of checks:

a) allow payments to be made by quoting the bank account number and for the name of the receiving party to be displayed for confirmation

b) allow the payer to enter a number, e.g. the invoice number or customer number, to identify the payment, and for the identity of the payer to be shown to the receiving party

c) allow the receiving party to download details of these payments easily and on demand.

These changes may require some of the existing regulations of the Monetary Authority of Singapore to be changed, e.g. to disclose the name of the other party in the transaction. 

Most banks should be able to implement these changes to their existing systems quite easily and at a low cost. It will encourage more consumers and small business to use use electronic payments, instead of checks.

Do you agree?

Discover: Find the Hidden Code

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Logic puzzles

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Pay bills through ATM

In Indonesia, many people pay their bills and insurance premiums through the ATM or bank transfer, instead of sending a cheque. I am quite impressed with their payment system. Many companies ask their customers to pay directly to their bank account using the ATM. There is a network connecting the ATM of most of the banks, so payment can be made from one bank to another.

This system seems to be quite advanced. In Singapore, our payment system is quite fragmented. Even eNETS is hardly used, and is quite complicated. We are still using archaic methods to make payments, i.e. cheques.

Singapore is using too many cheques

According  to this report, (http://news.bbc.co.uk/2/hi/8414341.stm), the United Kingdom processed 350 million cheques for a population of 60 million, or an average of 6 cheques per person. The number of cheques used in the UK declined by more than 50% over the past 10 years.


Singapore processes 78 million cheques a year, or an average of 16 cheques per person based on a population of 5 million. The usage of cheques in Singapore is 2 1/2 times of the UK. This shows the level of inefficiency that is found in Singapore.

I do not not if the usage of cheques in Singapore has declined during the past ten years. I suspect thta it has not.

There is a plan in the UK to phase out the use of cheques entirely by 2018, recognising that this form of payment is the most expensive to handle. It is time for Singapore to set a similar goal.

Can you solve this master mind puzzle? The answer can be found here: http://tankinlian.com/admin/file.aspx?id=711&IID=716

Comparing Yaw and Palmer

In an article in The Online Citizen, Joseph Chiang said that Yaw Sin Leong did not respond to the rumors because he wanted to protect the identity of the women. I agree with this view.

In Michael Palmer's case, he said that the girl was named and shamed. This was unfair to he

r. I also agree.

It should be noted that Palmer did not name the girl. Her name was released by her employer, and as a result infringed her privacy.

http://theonlinecitizen.com/2012/12/palmer-the-honorable-vs-shin-leong-the-coward-a-different-perspective/

Cheques to be phased out by 2018 in UK

I am encouraged by the decision of the Payment Council in the UK to phase out cheque payments by 2018. http://news.bbc.co.uk/2/hi/8414341.stm

The number of cheques processed in the UK declined from 800 million to 350 million over a period of 10 years for a population of 60 million. On average, each person uses 6 cheques a year.

Singapore still process 80 million cheques a year, for a population of 5 million. On average, each person uses
16 cheques a year, or almost 3 times of the UK. Singapore has become quite inefficient over the years.

A more challenging job for PM Lee

When Mr. Lee Kuan Yew became Prime Minister of Singapore in 1959, he managed a country with a population of 1.6 million people and a relatively small economy. He and his team did an impressive job in developing the country over the next 25 years.

When Mr. Lee Hsien Loong became Prime Minister in 2006, the population had grown 2.5 times and the economy is 8 times bigger (my estimate).

Many people did not like the direction of Singapore since 2006, with rising cost of living, high cost of housing over-crowding and many social problems. But we have to realize that the problems faced by PM Lee is more complex and challenging.

Do you agree?

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DISCOVER the hidden letters

I have now uploaded a new sample book containing 24 puzzles, based on the Master Mind format. Try the new book here.
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The new puzzles contain more clues to remove the duplicate solutions (hopefully).

Dispense with immigration card

10 December 2012 (not published in Today)

Editor, Voices

Today Paper

A few countries had discontinued the need by visitors to submit an immigration 

or disembarkation card to enter their country. This is unnecessary as most of 

the information on visitors could be obtained from the passport that is scanned

into their computer system. 

Malaysia introduced this new system a few months ago.

Singapore is still using the disembarkation card. I do not know what use is

being made of this card, which must be quite a hassle for visitors. It did ask

for some tourist statistics, which could probably have been better collected

through some other means.

I hope that Singapore can discontinue the need for this outmoded requirement, and

gain the moral authority to urge other countries in ASEAN to dispense with it. This 

will make it easy for Singaporeans to travel to these nearby countries and avoid

the hassle of writing the cards.

Tan Kin Lian

You can download a free sample copy of the book at 
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A heavy price for a private affair

When Domiinic Strauss-Khan gave up his job as head of IMF, he was accused of molesting and raping the maid in the hotel room.

Michael Palmer, ex-Speaker of Parliament, had a private, relationship with the then staff of the People's Association. It was consensual on both parties.

I wish to point out the difference in both situations.

I know that many people in Singapore have high expectations of their political leaders. I think that this expectation is unrealistic.

I share the views of a few other people that private matters should be private, and should not be confused with public duties.

I know that in many countries, this type of private relationship do not affect the career of public figures or political leaders.

It is likely that this type of private affairs is fairly common in Singapore, so we should not be hypocrites in expecting our political leaders to be angels.

I am sad that Michael Palmer and his family had to suffer such a heavy price.  I would have preferred that this matter be dealt with by his family as their private matter.

A sample of the book is available free at 
http://tankinlian.com/admin/file.aspx?id=711&IID=716

Government can help to improve productivity

My letter has been printed in the Straits Times
http://www.straitstimes.com/st/print/667058

The Editor
Forum Page
Straits Times

DEPUTY Prime Minister and Finance Minister Tharman Shanmugaratnam has asked small businesses to improve productivity and reduce the reliance on foreign workers ("Tackle labour crunch with productivity push: Tharman"; last Saturday).

Having managed a small business for the past four years, I have found that my staff are needlessly diverted to handling transactions that could have been done more efficiently under a better working environment.

I have to make most payments by manual cheque. Just imagine the time taken to write, sign and mail a cheque; and for the other party to receive it and bank it in; and for the bank to clear it.

I was staggered to learn that about 78 million cheques were processed in 2009.

Most of these were payments made by small businesses.

I must also expend significant time submitting regular returns to the websites of the Central Provident Fund, the Manpower Ministry, the Accounting and Corporate Regulatory Authority, the Singapore Armed Forces and other government or government-related agencies.

These online processes were created to reduce work for the government agencies but, unfortunately, cause the public to waste time on online submissions as a result of complicated and poorly designed websites.

Retrieving replies from the websites is also quite troublesome.

I have to read a page of instructions just to retrieve a reply from a website, when it could have been sent to me directly by e-mail.

The Infocomm Development Authority had announced the OneInbox project to allow members of the public to receive their replies from government agencies via a centralised website.

Why is this project taking such a long time to be implemented?

Several of my suggestions to the Pro-Enterprise Panel under the Ministry of Trade and Industry were attended to, but did not address the underlying problems.

The Government should look into these issues and improve the working environment for small businesses to operate more efficiently.

Tan Kin Lian

Cover design for my book

I wish to look for someone to design the front and back covers
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Submit your proposal to kinlian@gmail.com

Discover the Hidden Letters

Free copy of this book is now available at 
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Master Mind (1-20)

Here are 20 puzzles modeled on the popular game, Master Mind.
http://tankinlian.com/admin/file.aspx?id=710&IID=714

Here are the answers to the above puzzles.
http://tankinlian.com/External.aspx?IID=715

My financial education journey - Part I (Isabel)

Dear Mr. Tan

After my youngest son goes to army, I suddenly find I have some free time on hand.   All these years of working for the children, setting aside funds for the rainy days, building a home (not exactly in that order), it is a relief to be able to sit back and see how I can improve my financial position.

For years, my husband and I blindly bought into properties and stocks and every time there was nagging fear if it was a good buy.   We are good for falling in love with whatever we buy, good or bad.  So the market goes up and it comes down and we go with the flow.   So you can guess our financial situation.  We have enough to get by but not what you will term as affluent.

Last few months, I decided to start my financial education journey.

First, I bought a few books by Robert Kiyosaki/Kim (his wife)/Donald Trump.  The teaching is quite different from Warren Buffett.  Some of what Robert writes are obviously not suitable for Singapore especially pertaining the tax laws.   I am still puzzled how he can leverage so much and the banks are not calling for top up when the property prices drop.   Know of anyone who was so confident that he sold his house and use the money to buy into many properties just before the recent market crush?

Warren is usually buy and hold or until he thinks the business no longer suits him.  Robert is buy and sell and move on.   I believe both techniques can be applied to maximize the gain.  I do know of someone who do this.   

I went to a preview by a company that teaches value investing.  The cost for the course is >3K.   The course also teaches options (what Robert K and Warren B are good at).   This options trading is available for US stocks not Singapore.   The lecturer is energetic and fun.  But I think this is too much to pay.

I also attended the SGX course preview on “creating a secondary income stream – through long term shares investing & investing in real estate sector (property stokcs/RETIS).   It was a good course and the cost for 12x3 hrs is affordable.  With FA/TA course thrown in.  The course basically teaches fundamentals like time value of money/economic/financial statement/business/industry analysis and investment principles.  I signed up for my husband, my daughter and myself.   I believe opportunities are aplenty but we must be armed and shielded with knowledge in order to grasp these opportunities.   I hope I will be confident the next time opportunities come knocking at the door.

The SGX course on “making trading your source of income” preview is an eye opener.   This is really a short term investing for cash flow.   The lecturer delivered a good clarity in the concept.   However, I do not think this is the right tool for me.   This is too fast paced for my heart. 

I then went for a talk by Philip Capital “How to Profit CONSISTENTLY in Stock Market” where a CK Ee from Asia Charts delivered his speech.  Ee was fun and he got the whole room (must be more than 100+ attendees on a Saturday morning) laughing with glee.  He is very knowledgeable and obviously he walks the talk.  He is realistic and warned the audience that there will be bad and good days.  But important to learn from it all and keep a journal.   He teaches discipline and urges investors to have good understanding of market behavior (the interpretation of news), a good plan (to accurately analyse the market) and when to enter and exit.  He trades for cash flow and capital gain.  If I have a chance, I will like to join his course.

I went to a preview on swiftlet farming.  The trainer showed the swiftlet migration path, Malaysia, Indonesia etc.  The business idea is quite interesting.  Basically they work with locals and hopefully some research institutions and wholesaler.  The swiflet farm is in Sandakan, Sabah. The investors buy the wooden huts and the local will help to maintain and harvest the bird nests.  It will take a few years to have returns which is not guaranteed.   The consortium will buy the bird nests and pay the investors based on market price.   The consortium is hoping to link up with some research institution to give some credibility to the bird nest  harvested from Sabah due to the recent clam down by China due to contamination.   I find this venture a bit expansive and not certain.  The wooden huts are sold at a premium to the investors.   One is never sure if the birds will really nest in your huts.  As the areas are not really easily accessible, one has to depend on the consortium management to ensure no thefts.  At the end of the day, the price of the nest is a question mark.  The plus points are that the consortium delivers the huts and management the scheme and buy the nest from you.  Unless of course, you prefer to consume yourself, but will be hours of back breaking tasks to pick all the down feathers.

I went to two property courses preview.  One is “how to invest in property with little risks” by Azea Property Investment.   The trainer was fun and knowledgeable.  Basically the concept is similar to Robert Kiyosaki/Donald Trump - investing for cash flow.  Some of the properties showcased are impressive.  The lady boss Tan Yang Po is well known.  She is featured in 938 live.  From what I know listening to her via 938 live, she basically has the muscles (together with the students who turned investors) to negotiate for good deals.  I do believe the model works.  She gives much better value than some of the investments brought to Singapore – “3 properties in USA for 200K!” shouted the advertisement in the Straits Times some months ago.   The course is attractive from networking and the opportunity to buy into some of the below the water properties.  There are aplenty such properties in US and EU.  But the skill is to sniff out the good buy and rental generating properties.   I am impressed by two buys – one in London and the other in US near the university.   However, one has to consider that these are oversea properties.   My preference is still to be able to see my investments whenever I want to.

The other property course preview is none other than ERC – Andy Ong.  I went to one of Andy’s course in 2007.   I find him genuine and willing to teach and help.   He is astute in property investment.   Around 2007, he  bought into River Valley property to be used as class rooms.  Recent years, see him investing into commercial.  His portfolio is impressive to people who know his background.  I first heard of him when I took up financial planning course years ago.  At the time, one of the text books specified by FPAS is by him.   I like to reconnect with him and I believe there is much to learn from him.

Then the latest course I went to is by Sam Goh “ A - Z of Investing - Gold & Silver”.  The reason I went is that Robert K has been talking a lot on gold and silver.  With the delink of currency from gold, and the QE infinite, who will not be worried? USD is on the slippery slope to don’t know where and every government is printing money.   There is only one way for commodity to go – up.   I cannot buy and take delivery on oil/coffee/tea/nuts etc.  The only commodity is then gold/silver.  At 25 and be financially free is impressive.  There must be something I can learn from Sam.   The talk content is what I expected.   I learnt something new.  I can actually buy and silver and gold from UOB and I do not have to take delivery but just use the passbook.   I joined his  club membership. 

Regards,

Isabel

Different pay of workers

Dear Mr. Tan

There are a lot of commentaries in the media on the China SMRT drivers.

The usual practice in the industry is that the pay is normally different for employees from different countries.  The employers look at the gross expenses and the gross should be more or less the same across.  Take for example, Indian technician with an “S” pass is paid minimum S$2K as per the law (they should have diploma in technology and some years of working in the similar industry).  Work permit holder from Malaysia of “O” level and above is paid $1.6-1.7K as levy is part of the expenses to hire Malaysian.  Same goes for Chinese.

Chinese workers are more vocal and demonstrative/assertive.   While Indian and Bangladeshi are more compliance and submittal. 

The employees have signed to the contract terms.   It is always good HR policy to tell employees that they should not disclose their pay.   This is to prevent the employees from becoming unsatisfied.   It is also true that most executive will not share this info especially if the merit is built into the pay.   For rank and file, they do compare.  So expectation should be set. 

This is just my personal view.

Regards,

Isabel

Inform foreign workers about the law

14 November 2012 (not published by St Times)

Editor, Forum Page

Straits Times

I wish to ask if our bus operators and other establishments

that provide essential services have made special efforts to 

notify their employees, especially the foreign workers, that 

they would be committing a crime, if they went on on an 

illegal strike and disrupt public transport and other 

essential services.

Perhaps it should be made compulsory for them to join a

trade union, so that they can be represented by the trade

union and advised on how their grievances can be addressed.

It is compulsory for businesses to be a member of the 

Singapore Business Federation. This same compulsion should

be extended to workers in essential services, with the membership

fees borne by the employee. As the employer now has to 

bear the worker's levy, the cost of the membership fee should be

quite small

Tan Kin Lian

Using emotion in relationship

Singapore is an unemotional people. Read the views by Seah Cheang Nee.
http://thestar.com.my/news/story.asp?file=/2012/12/8/focus/12428622&sec

Dilemma of contract workers

The employer is able to impose different working conditions for contract workers
http://www.tremeritus.com/2012/12/04/bus-strike-exposes-dilemma-of-contract-workers/

The law on employment should be changed to treat contract workers fairly.

Increase in property tax

The high prices of HDB flats have now hit existing flat owners through increase in property tax
http://www.tremeritus.com/2012/12/05/the-real-reasons-why-pap-increases-property-tax-for-hdb-flats/

This is bad for most people.
It is time to review the policy of market pricing of HDB flats!

Difficult conditions for PRC drivers

Here is another side of the story that many Singaporeans are not aware of
http://theonlinecitizen.com/2012/12/the-indignity-that-singapore-bus-drivers-smrt-have-to-go-through/

Lemon Law and Services

Mr Lee attended a preview for a Forex Training Course. He signed a voucher to charge $4,000 plus to his credit card. He changed his mind and did not attend the course. The trainer charged his credit card and the bank pressured Mr Lee to make the installment payment with interest. Can Mr Lee get off using the "Lemon Law"?

Reflect on the issue of PRC bus drivers

Mr. Feed gives his views about the issue of the PRC bus drivers
http://feedmetothefish.blogspot.com/2012/12/are-we-proud-of-what-happened-to-prc.html

Unequal pay for the same work

Watch this experiment and know why people do not like to be treated unfairly
http://www.upworthy.com/2-monkeys-were-paid-unequally-see-what-happens-next?c=upw1

Governor of Jakarta - Joko Widodo

I travel to Jakarta monthly and have the fortune to talk to my Indonesian friends, who tell me about their new Governor. I wish to introduce Joko Widodo to my Singaporean friends. I hope that our leaders can emulate his good example.
Read the honest views of the residents of Solo (Surakarta) where he served as mayor for two terms.http://www.worldmayor.com/contest_2012/comments-surakarta.html
He is clearly an inspirational and well respected leader.

My views about the "unofficial strike"

My sympathies are with the workers who were involved in the "unofficial strike", although I wish that they could have used other channels to express their grievance. I hope that this incident will make the government leaders and top management more aware about the ground feelings.

I know that the unofficial strike is inconvenient to public transport users (and I am one of them). I also know that traffic delay are regularly caused by serious accidents and traffic congestion during peak hours. In this respect, I would not exaggerate the seriousness of the incident. I understand the paranoia that this can cause a flood gate towards more serious industrial action in the future, although I personally do not share this fear.

I know that many Singaporeans are not as tolerant as I am, and they will raise "a public outburst" about the inconvenience caused by the disruption. We should learn to be sympathetic to the plight of other people and should not only focus on their own convenience.

As a Singaporean, I do not wish to take side against the PRC workers. I wish to treat them the same as for local workers. Some of the "public outburst" against the workers are based on their PRC origin. I find this discrimination to be unacceptable. We should not practice discrimination - racial, religious or cultural. We must treat everyone fairly and without discrimination.

Those who know me well will recognize that I often speak for the under-dogs and for people who are oppressed by the social or economic environment.  This is just another example of the way that I see things. I hope that more Singaporeans will join me in seeing issues from this angle.

Trading in binary options

There is a new trading product, called Binary Options. Here is the analysis of this product. 
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Master Mind

Like the game Master Mind? You have to guess the colors and position of the pins according to the clues given to you. Here are some puzzles. Don't look at the answers on the last page, until after you have tried them. This is a test of logic.
http://tankinlian.com/admin/file.aspx?id=708&IID=712

Repatriation of SMRT bus drivers

29 bus drivers, who participated in the illegal strike are being repatriated. They will get their pro-rata bonus and the cost of passage will be borne by their employee. This is a good solution to the dispute.

Five instigators will be charged in court for breaking the law. Read the views of Mr. Feed here:
http://feedmetothefish.blogspot.sg/2012/12/the-right-to-decent-living-power-and.html

It is sad that they will be made an example and take the rap, in accordance with the saying,  "kill the chicken to frighten the monkey". What an unjust society.

SMRT will have to take measures to address the concerns of the remaining workers and improve their wages and living conditions.

Joko Widodo, Governor of Jakarta

Here are some comments about Joko Widodo, the Governor of Jakarta. He was previously the Mayor of Solo (Surakarta). He is highly respected. 
http://www.worldmayor.com/contest_2012/comments-surakarta.html

Measure and calibrate

Investment-linked or universal life?

Which is a better insurance plan - investment link or universal life?
This article explains what to look out for, and to avoid!
http://tankinlian.com/Admin/File.aspx?ID=703&Frame=1

Elderly with no medical insurance

Dear Mr Tan,
My mother is a homemaker, age 63 and has diabetes several years ago . I tried to buy NTUC Incomeshield for her protection on medical/hospital bill but application was rejected.

I'm very worried on the high medical bill that might incur should anything happens. Can you please advise if there is any plans that can provide medical protection for my mom?

REPLY
Do not worry. There are many elderly people with chronic illness and no insurance cover. They manage. There are government medical schemes for elderly to manage their chronic illness. They can get regular treatment from a doctor at subsidized rates. 

Read this article about how to manage the hospital bills.
http://tankinlian.com/admin/file.aspx?id=698&IID=702

How to go on strike

http://singaporemind.blogspot.sg/2012/12/recent-strike-action-through-kids-eyes.html

To punish or not to punish?

For those who insist on harsh punishment to the 4 SMRT drivers, let me share this story with you.

Forty years ago, I was driving at 90 kpm on a motorway in the UK. A police car stopped me. The policeman said, “Sir, do you know that you are exceeding the speed limit?”

I replied, “Sorry, I thought that there was no speed limit on the motorway.”

He said, “Sir, you are wrong. There is a speed limit of 65 kpm. As you are a visitor to our country, do be aware of our law when you drive along our roads”. He did not book me.

For the rest of my life, I know what is a civilized, considerate and fair society.

If he had fined me, I would have paid the fine, and would not feel that this have the same respect for that society. If I had been sent to jail, I would probably hated that society and their people, for mistreating other people.

So, to those narrow minded and bigoted fellow citizens (which I hope is the minority), reflect on this carefully. Yes, you want to enforce your law harshly, including laws that are unjust. When you are go to another country and are sent to jail for a law that you are not aware of, you should not expect to be treated with compassion.

You will face another risk. For people who were badly treated in Singapore, they and their friends will hate us. When you meet them in other countries, be careful and be ready to face their hatred and retaliation.

Better stay in your own country, where you can be safe

Do not show the ugly side of Singaporeans

Many Singaporeans have expressed their anger and hatred of foreigners working in Singapore. This hatred is especially directed to the foreign workers from China. The recent "strike" by the SMRT drivers has given them the opportunity to vent their anger again.

I like to ask these Singaporeans to consider the following points:

a) The words that they use, and the manner of their expression, reflect badly on their personal character and show them to be narrow minded, uncivilized and acting like hooligans.

b) Their manners and hate mongering reflect badly on Singaporeans in general

c)  If we hate other people, we should be aware that other people can also hate us. Just watch the internet websites of other countries to see their opinion of Singapore and our people.

d) The number of people who hate us can outnumber us by hundred of times.  Do we want to travel to other countries and meet people who have reasons to hate us, due to the way we treat their fellow men?

My request to fellow Singaporeans is to reflect on these points and be civilized in the manner that they express their views. Be considerate and respectful to other people. Build goodwill. Find reasons to like other people, rather than to hate them. Be helpful to other people, especially those who need our help.

I also ask other Singaporeans who agree with me, to come in and help to tell these rude people off. Do not stand by idly and be silent and allow them to show a bad image of Singaporeans to the world.

Personally, I do not like the big influx of foreign workers into our country, but the fault is with the policy of our Government. We should not vent our anger on the foreign workers; many of them have made sacrifice to come to Singapore; were misled about the wages and living conditions in Singapore and are now suffering as much as the local Singaporeans that they have displaced.

Tan Kin Lian

Arrest of SMRT bus drivers for instigating a strike

The authority decides to charge 4 SMRT bus drivers for instigating an illegal strike involving an essential service. http://www.channelnewsasia.com/stories/singaporelocalnews/view/1240133/1/.html

The Chinese embassy in Singapore has expressed concern about the arrest action being taken against their nationals working in Singapore. http://www.straitstimes.com/breaking-news/singapore/story/chinese-embassy-expresses-concern-about-arrests-four-smrt-bus-drivers-

This is likely to lead to a diplomatic row that could turn quite ugly, if it is not being handled properly. Here are the issues at stake:

1) There is a law involving an illegal strike and disruption of essential public service, which the Singapore authority has to enforce.

2) The 4 "instigators" could feel that they are expressing their grievance over pay and working conditions and unfair discrimination.

3) It is possible that many of the foreign bus drivers could have paid a large sum of money to come and work in Singapore. They probably found the cost of living and the terms of employment to be unsatisfactory and they are now stuck with these terms, and they have no avenues to express their grievance.  Their government would probably be required to take their side to protect their "human rights".

4) This incident could probably put the employment and other practices in Singapore in an unfavorable light, especially the weak bargaining position of not only the foreign workers, but the local workers as well. It would also show some of the laws in Singapore to be unjust.

5) It is probable that the 4 "instigators were initially not aware about the law in Singapore and have not been advised. It might be possible that they were warned and they did not care anyway, as they have "nothing more to lose".

Whatever is the situation, it will be difficult for the Singapore authority to enforce the law harshly, considering the circumstances. A better way is for the authority to get the help of the Chinese embassy to solve this issue. A good outcome is for these 4 "instigators" to be let off and even allowed to return home with passage given by the government or their embassy. After that, we will have to review our practices and some laws that are perceived to be unjust.

Tan Kin Lian

Population woes

I am surprised that PM Lee was not aware of the seriousness of the population woes. It has been getting from bad to worse over 25 years. The measures adopted during the previous Prime Minister and during his time did not work, but they refused to see the flaws in their policies.
http://singaporedesk.blogspot.sg/2012/11/no-country-for-old-men.html

Singapore shares, 23 Nov 2012

Here are the blue chips and REITS in Singapore, sorted by dividend yield.
http://tankinlian.com/admin/file.aspx?id=707&IID=711

The authority has a duty to perform

Some people have argued that the public should be alert and be careful of being cheated by crooks. We should not expect the Government to be able to stop all the crooks from operating.

I agree with this reasoning, up to a point. If  a crook has been going around to cheat people and and complaints have been lodged to the "authority", it is the DUTY of the "authority" to take pro-active measures to stop the crooks from continuing their operations, especially as their identity is already known. It is NOT ACCEPTABLE for the "authority" to sit by, do nothing and let other people be cheated by the same crooks.

There are so many cases where complaints were lodged, and the crooks were allowed to continue their operations for a few more years. In the process, more people were cheated.

I do not understand why some people want to speak on give excuses on behalf of the "authority" which is neglecting its duty.

SIA website

I booked for a ticket to go to KL on 4 Dec. The website keeps changing my departure date to 5 Dec. Fortunately, I spotted this mistake and did not proceed with the booking. I tried again and got the same mistake.

I suspect that this could be a browser issue and changed from Chrome to Internet Explorer. This time, it got the correct date. When I proceeded, it showed "Processing request" and continued there for a long time. The website probably hang.

I know that SIA website had been giving trouble a few months ago. I am surprised that they have still not resolved this issue after a long time. I sent my feedback to the had of the call center in Singapore Airlines.

Beware of another investment scam

Mr Low (not his real name) made an investment with an asset management company X with an office in Bencoolen Street. They promised him monthly dividend payments but the payment stopped after two months. He did not receive the payment due for the past three months.

The representative of X told him that the investee company in Kazakhstan was taken over by another company and had stopped making the payment. He refused to respond to further questions from Mr Low.

Mr Low told me that he came to know of X because they offered to buy over his time share investment of $28,000, provided he put in another sum into X to make a total investment of $60,000. 

This sounds like another investment scam. I checked the MAS Investor Alert List and found that the company was not listed there.

Fair dealing outcome

MAS encourages financial institutions to make a corporate statement about their goal to achieve "fair dealing outcomes" for their customers. Here is an example of a statement issued by Citibank,
http://www.ipb.citibank.com.sg/global_docs/pdf/fairdealings.pdf

Educate our children

There is a big difference in the approach towards education adopted by several countries and Singapore. Which system do you prefer?

http://www.tremeritus.com/2012/11/26/difference-between-finnish-education-system-and-ours/

PM Lee and Singapore

PM Lee said that it is not easy to get another group to make Singapore work.
http://www.tremeritus.com/2012/11/25/pm-lee-not-easy-to-put-together-another-group-to-make-sg-work/

The Government is made up of idiots

If you make this statement, you will not be sued.
http://www.tremeritus.com/2012/11/25/govt-wont-sue-you-if-you-say-it-is-made-up-of-idiots/

Negative aspect of Singapore system

This person wrote about the negative aspect of the Singapore system - where people in "the authority" neglect their duty and push responsibility from one agency to another. The root cause of the problem is not solved. http://www.tremeritus.com/2012/11/24/i-have-enough-of-singapore-system/

I agree with his views and have experienced this bad environment. The Government needs to "wake up", recognize this problem and find a solution. It is their duty. If they cannot carry out their duty, they should step down from the government.

PAP counter-insurgency strategy

Seah Cheang Nee wrote about the PAP counter-insurgency strategy in cyberspace. I have experienced this activity in my blog and Facebook. Several of the members of this group have been making attacks on me in a dishonest way. They just want to provide their propaganda, to argue for the sake of argument, rather than engage in an honest discussion.

http://www.tremeritus.com/2012/11/24/pap%E2%80%99s-quiet-counter-insurgency-in-the-cyberspace-front/

Presidential Election 2005

Read Siew Kum Hong's comments about the lack of contest in the Presidential Election 2005
http://mindbloggingstuff.blogspot.sg/2004/07/lee-kuan-yew-that-very-few.html

I want to post his article because many people did not realize that the 2011 election could also have been a walkover, if I did not enter the contest. My friend urged me to stand as a candidate, so that there would be a contest, and not another walkover. This was one key reason for me to stand in the election.