How to avoid investing in scams

Over the past decades, tens of thousands of people have lost their savings on various kinds of ponzi schemes, starting from Gemini Chit Funds in the early 1970s. This kind of scams have re-surfaced in new forms in later years, such as the high returns paid or promoted on land banks, wines, gold bars, plantations and similar schemes.

Even some life insurance and structured products, sold by regulated financial institutions, have high risks, as the investors often misunderstood the nature of these products and have to suffer large losses in their savings. In many cases, the products are complicated and the person who sold the products did not explain the negative features of these products.

More people have suffered losses from these regulated products, rather than investment scams.

To avoid this loss, it is important that consumers be aware of the risks of the common investment scams and dubious investments that are sold in Singapore.

http://fisca.sg/event_det.aspx?id=4

Reliable security partner of the United States

Two decades ago, it was good for Singapore to be a reliable security partner of the United States.

I am not sure that this is a good idea today. The United States has been involved in unnecessary wars to change regimes in some parts of the world and has caused these countries to be destabilized.

Some people even suspect that their motive is to secure their future supply of oil, rather than to promote the well being of the citizens of these countries.

It is better for Singapore to be neutral, especially as the future conflicts may involve China.

http://www.channelnewsasia.com/news/singapore/us-grateful-to-have/2842078.html?sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=4550&sc_lid=42122199&sc_uid=22K6jmHe3A

A sense of urgency

Dear Mr. Tan
I like what you said about replying immediately. I wish to share this experience with  you.

I ordered 1,000 sets of cards. After sorting out the cards two weeks later, I found that 150 pieces of two cards were missing. They must have been short delivered.

I asked my admin staff to check with the printers. She was reluctant to do so. She was afraid that the printer would disagree.  I told her - just give them a call and talk to them.

A few hours later, I asked her if she had called the printer. She replied that she had, and the other person need to check with her boss and would give a reply "later".

Why can't my staff send an email to inform me about this event, rather than keep me in the dark. It takes only 1 minute for her to update me with an email.

REPLY
I agree with you. We need to teach our admin staff to be better in their communication. With email, it is so easy to communicate, rather than keep the boss in the dark.

Quite often, if the other party did not call back, your admin staff would probably not follow up. It is better to communicate immediately, rather than wait for some definite answer.

We need to have a sense of urgency.

Get a higher surrender value

If you know of someone who has to surrender a life insurance policy due to loss of job or cash flow problem, and wishes to get a higher sum that the surrender value offered by the insurance company, you can refer them to this website.

http://tklcloud.com/tlp/page/1

Sequential stop number and bus stop code

There is a difference between the sequential stop number and the bus stop code. The people in the Land Transport Authority, the bus companies and the Straits Times editor should learn this difference. It helps them in communicating the difference to the public.

The sequential stop number starts with 1 for the first stop in each service and increases by 1 for each stop. The bus stop code is a 5 digit code that is assigned by the Land Transport Authority for each bus stop.

See this example for service 163 (taken from c-pearl.com)

The sequential stop number is shown in the first column and starts with 1. The bus stop code is shown in the second column and is a 5 digit code, sch as 67009, 67189, 67101.

If a passenger boards the bus at Sengkang Int, the sequential number is shown as 1. If the passenger wishes to alight at Sengkang East Ave Opp Blk 200B, he will look for Stop No 9.

The passenger does not need to look for the landmark to identify the bus stop. He looks for the stop number that is displayed in the bus. If the current number is less than 9, he knows how many stops before his destination. If it is higher than 9, he has already passed his destination.

The sequential bus stop number is more helpful than the bus stop code.

Disappointing non-response from Tower Transit

I have been disappointed with a non-response from Tower Transit to this email that was sent 3 days ago. I am used to this kind of non-response from organizations in Singapore.

I had hoped that Tower Transit would be different. They had employed a Singaporean (judging from his name) as the communication manager, so he must have been following the prevailing culture here.

Quote
Dear Glenn Lim

I congratulate Tower Transits for the start of your bus operations in Singapore.

I hope that Tower Transit can make a significant impact in the following areas:

a) Provide better employment terms to your employees.
b) Improve the quality of your service to the public.

I am encouraged by the initiatives that you have taken and am hopeful that the above goals will be achieved.

I have written to the newspapers in the past about improving the bus service. Just today, my letter is printed in the Straits Times Online Forum. I hope that you can act on displaying the sequential stop number in the bus. I will send you the link to this article shortly.
Unquote

http://www.straitstimes.com/forum/letters-on-the-web/educate-singaporeans-on-advantage-of-bus-travel

World class taxi service - confusing and expensive

At the taxi stand at the airport terminal 1, there were several taxis waiting in the spaces near the entrance. These were all premium taxis. The standard taxis were in the spaces far away from the entrance.

I saw a sign that showed the fares for premium taxis are 30% higher than for standard taxis.

The usher does not tell the commuters that the nearby taxis were premium taxis. She just asked "Do you want to take the taxi at number X. She expected the passenger to know the difference between premium and standard taxis.

This is "confusing Singapore".

Only 1 passenger went for the premium taxis. I suspect that she is travelling on business and can claim the total cost from her company. This is how the cost of doing business is so high in Singapore.

This is our "world class taxi service" - so confusing and expensive!

Jakarta points the way for London's mayor

I share this article from Kishore Mahbubani

By Kishore Mahbubani Financial Times 1 June 2016 Jakarta points the way for London mayor Sadiq Khan The election of Sadiq Khan, a practising Muslim, as mayor of London was rightly celebrated across the world. It confirmed that openness and tolerance, hallmarks of western civilisation, are alive and well. More surprising, perhaps, is that this spirit can be found in parts of the Islamic world, too.    Indonesia is the country with the world's largest Muslim population. Its capital city, Jakarta, is run by Basuki Tjahaja Purnama, a Chinese Christian popularly known as "Ahok". This is highly significant. Why? As recently as 1998, Jakarta saw anti-Chinese riots in which more than a thousand people were killed. Mr Purnama and his family had to defend themselves with sticks, Molotov cocktails and machetes.    After 17 months as governor of Jakarta, Mr Purnama remains immensely popular. He has made some bold changes: closing down trendy but disruptive nightclubs, cleaning up red-light districts, evicting people from slums (while providing them with better housing) and dredging clogged-up canals.    He has also demonstrated his willingness to make difficult policy choices, such as discontinuing a long-stalled monorail project in favour of a more cost-effective and efficient light rail system. Even more significantly, an underground railway, which had been held up by bureaucracy for more than 25 years, is going ahead. Mr Purnama also believes in transparency. The entire budget of the city of Jakarta is online. Citizens can scrutinise all spending. Even his mobile phone number is public, meaning that he receives a large number of text messages, many of which he responds to personally. The city's inhabitants feel that their lives are improving.    This is why the attacks on him by hardline Islamist groups such as the Islamic Defenders Front, also known as Front Pembela Islam, are not working. In theory, appeals to religious loyalties by such groups should work against Mr Purnama. In practice, however, they have failed - suggesting that in Jakarta, as in London, a corner has been turned. The big question is why.    One reason could be greater access to information. A little-known fact about Indonesia is that its social media penetration rates are among the highest in the world. There are more than 80m users of social networks in the country. In the new climate of transparency, there is increasing evidence for Mr Purnama's claim that conditions in Jakarta are improving.    Corruption is also declining in what was a notoriously corrupt city. Video clips of Mr Purnama berating officials of the city's transport administration have gone viral. Despite the traditional Javanese preference for avoiding confrontation, he has adopted a brash, in-your-face style that has clearly angered many. He has acquired enemies.    When I met him earlier this year, I asked him for his views on how to succeed politically. He replied: "Be prepared to die. I am ready to die".    His courage is obvious. And for a Chinese Christian in a largely Muslim society to have displayed such courage could have been politically suicidal. Instead, it has proved to be a vote-getter. A grass roots campaign to put him on the ballot as an independent candidate to run again as governor in 2017 has drawn wide support from the city's predominantly Islamic population. He has received more than enough nominations.    Mr Purnama's success in Jakarta is not just a local phenomenon. It demonstrates that we are moving into a new world in which people make more informed and rational decisions on the basis of greater access to information. The citizens of Jakarta are aware how backwards their city had become, even in relation to its Asian peers. So when a Chinese Christian promises that he will study best urban practices from Singapore and Taipei and bring them to Jakarta, they support him.    This is why I believe that we are witnessing globally a fusion of civilisations, not a clash of civilisations. Societies around the world are beginning to learn best urban practice from others.    The brash Chinese Christian governor of Jakarta is popular among the Islamic population of Jakarta because he says to them, in effect: "You can see on your phones how the rest of the world has moved ahead. Follow me, and I will bring the world's best practices to Jakarta."    In theory, an Islamic population ought to have been reluctant to follow a Christian leader. In practice, they are embracing him. This is as significant as the election of Mr Khan.    The writer is dean and professor in the practice of public policy in the Lee Kuan Yew School of Public Policy NUS, Singapore

The Pancasila ideology of Indonesia

President Joko Widodo of Indonesia has declared 1 June as a national day to commemorate the birth of the Pancasila ideology.

Pancasila is an ideology that was promoted by the first president Sukarno in 1945. It consists of five principles - divinity, humanism, nationalism, consensual decision making and social justice. The first principle promotes diversity and tolerance of all religions as it promotes the belief in god, without favoring any specific religion.

During the regime of Suharto, the promotion of Pancasila was banned.  This ban has now been reversed.  Commentators said that this decision was made at the request of Megawati, who is a leader of a large political party and the daughter of Sukarno.

President Widodo explained that the promotion of Pancasila is necessary to reverse the recent trend towards radicalism and terrorism. He has taken a bold and impactful decision.

Real feed of contributions to Bernie Sander's campaigns

This was amazing the first time we showed it to you in October, sisters and brothers, and it's just as amazing today.

What you're seeing is a real feed from earlier today of people responding to Bernie's email from this morning, adding their contributions before the final FEC fundraising deadline of the primary.

Can you add a $2.70 contribution now and be a part of this moment?

CONTRIBUTE

Tens of thousands of people have already contributed today before themidnight FEC fundraising deadline, adding $2.70, $27, or whatever they can afford. I hope you can join them as we prepare for the last week of voting in our primary.

In solidarity,

Jeff Weaver
Campaign Manager
Bernie 2016

GrabCar was more expensive

I called GrabCar at 6 am to go to airport. The display shows $68, which is more than twice the taxi fare. The app replied - no driver found.

I called GrabTaxi. 1 taxi accepted my booking within 1 minute. The fare to the airport was $23.30.

I gave him $24 and asked him to keep the change.

Driver - thank you, Mr. Tan. Use the left door. It is safer. Slowly, no hurry.

I will try GrabCar the next time, but during working hours.

Service staff need to be alert and aware of the customers

I checked in at he JetStar self service kiosk. It was easy. I have done it many times before. The self service process was well designed - unlike many other online processes designed in Singapore.

While walking through the JetStar aisle towards the Immigration door, I heard a voice calling behind me.

Voice - JetStar
TKL - yes.
Voice - this way. (Pointing to the check-in counter.
TKL - No need. I already checked in.

The JetStar employee was trying to be helpful. But he should be more alert and aware that I did not need any help.

This problem exists in many places in Singapore. When I really needed help, the staff are not available. When I do not need help, they try to be helpful. For example, when you need a waiter or waitress, they are usually not available. Sometimes, they are busy gossiping with their fellow workers.

We need to train our service staff to be more alert and aware of the customers.

Helpful staff pointed out the wrong direction

After entering the departure hall, I found that the departure gate was not printed in the boarding pass.

There was a "Flight Info" kiosk. I saw JetStar and touched the icon. The message said, "The flight had departed". They were still displaying a flight that left 2 hours ago. What a bad design.

An airport staff came to me. "Can I help you? You can scan your boarding pass."

My fight was at gate C23. He pointed - this way.

I walked down in that direction for 20 meters. Then I realized that he had pointed me towards the D gates. The C gates was the other way. 

I went back and found him. I told him his mistake. I hope that he learned from it.

This staff was trying to be helpful but he did not pay attention to the C and D gates. If he did not point out the way, I would have looked at the signs!

Get a higher surrender value for your policy

The life insurance companies make a big profit when their policyholders surrender their policies. Here is an example.

The policyholder pays a monthly premium of $500 for five years. A total of $30,000 was invested in the policy. The policyholder is not able to continue the policy due to loss of job or cash flow problem.

The policyholder wants to "surrender" the policy. How much does the company pay in surrender value? Say $12,000. The company might have spent $10,000 in commission and expenses, so the company get to make a profit of $8,000 on this transaction.

Suppose 5,000 policyholders surrender their policies each year. This works out to $40 million of profit in each year. That is a huge profit. This is the profit that comes out of the misery of the people who lost more than half of their hard earned savings.

Why does the company pay such a poor surrender value? Why do they confiscate so much of the hard earned savings?

The simple answer is - the insurance company is behaving like a monopoly. The policyholder has no choice in the transaction. He or she has to surrender the policy back to the company for whatever they offer to pay.

The hard pressed policyholder now has a choice. An investment company has been set up in Singapore which is in the business of taking over the policies from the hard pressed owners and paying an amount that is higher than the surrender value offered by the insurance company. Instead of getting $12,000 (say) as surrender value, the owner can sell the policy to the investment company for (say) $15,000.

The investment company has worked out its maths. They will continue to pay the premium to the maturity date. They expect the maturity value to give them the target yield on their purchase price and the future premiums that they have to pay.

If you know of any hard pressed policy owners who wish to look for a higher surrender value, send an email to kinlian@gmail.com

Restoring democracy in America

Fifty years ago, America fought the Cold War to uphold democracy around the world. It had the honorable intention to help people in every country win the right to choose the leaders that represent them, and work for their best interest. It strongly believed that democracy is the best system to promote the welfare of the people.

Countries that were ruled for decades by a strong dictator, backed by a one party system or by the military, is considered to be a threat to democracy. America worked through covert actions to bring down these dictators.

So much has changed over the past decades. America is no longer a shining example of democracy. Its election system has been bought by "money politics". Through the unlimited campaign contributions, the wealthy in America are now able to "buy politicians" who will wrote for laws that favor these contributors.

America is no longer a democracy that looks after the interest of the ordinary people. It is now an oligarchy that look after the rich people and the campaign contributors.

Bernie Sanders is working hard to create a "political revolution" and get the ordinary people to stand up and fight against this "corrupt system". I wish him success.

Singapore also has our own style of rotten politics. It also has to be changed.

World class taxi service in the most expensive city in the world

It was raining lightly on Saturday morning. A taxi with a green sign came by. I stopped it.

Taxi - where are you going?
TKL - Midview City
Taxi - Sorry, I am going to Hougang, Sorry.

This is the quality of our taxi service. It is now quite expensive with surcharge and call fee. Most taxis display the sign "Busy", "On Call" even when they are empty. Those that display a green "Taxi" sign will have the excuse, "Changing shift", "Out of the way".

The passenger has the right to insist that the taxi provide the public service that they are supposed to. But, there is no point to risk a confrontation over this "right".

I thank the PAP government for this expensive, world class taxi service based on the unique free market model that they had designed for Singapore. It has been running on auto-pilot for several years.

This is how we achieve the distinction of being the most expensive and most stressed city in the world.

Bernie Sanders support this candidate for election into the Senate

Sisters and Brothers -

There are few people who have done more to address the obscene proliferation of money in politics than Russ Feingold.

There is also no one the Koch brothers want to keep out of the U.S. Senate more than Russ Feingold.

Russ is running to win a seat in the Senate from Republican Ron Johnson, someone who was called the Koch brothers’ "model legislator."

Russ Feingold is someone we need in the Senate, and I'm proud to endorse his campaign. Can you join me in helping elect Russ Feingold?

Split a $2.70 contribution between Bernie 2016 and Russ Feingold before our final FEC fundraising deadline of the primary to show that we can elect senators who don't need big money in politics.

Let me tell you a little about what made Russ so effective when he was in the Senate. Russ was the sole vote in the Senate against the USA Patriot Act in 2001. He opposed the war in Iraq, he fought disastrous trade deals and worked to reform our health care system. Russ was also an author of the McCain-Feingold Act to reform our corrupt campaign finance system.

Meanwhile, his Republican opponent credits a Koch brothers organization with inspiring him to run for Senate in the first place. Ron Johnson wants to privatize veterans' health care and even said he supports Donald Trump as the Republican nominee.

Russ has already faced a huge influx of big money trying to keep him out of the Senate. In fact, the Koch brothers had their ads from a $2 million campaign against Russ taken off the air by TV stations when they were noted to be "false, misleading, and deceptive."

That won't be the last time the Koch brothers try to take out Russ. We need to make sure that Russ can fight back and win.

Please make a $2.70 contribution between Bernie 2016 and Russ Feingold before our final FEC fundraising deadline of the primary to show the billionaire class that they can't buy our elections.

In solidarity,

Bernie Sanders

CONTRIBUTE

Bernie Sanders is working hard in California

Sisters and Brothers,

California, here we come. A shocking new poll just came out that shows us just TWO POINTS back from Secretary Clinton in California's June 7 primary.

California Poll (May 13-22)
Public Policy Institute of California

Hillary Clinton: 46%
Bernie Sanders: 44%

The first poll of this primary in California had us losing the state by 53 percent. Now we're within striking distance of winning the most delegates in a single state of this entire election.

Winning California would send an unmistakable message to the political establishment and the Democratic convention, and that's why we have to ask for your help in two ways:

CALL CALIFORNIA VOTERS THIS WEEKEND

CONTRIBUTE TO
BERNIE 2016

Make no mistake: every vote we earn, delegate we secure, and state we win is an affirmation of the progressive values shared by our political revolution. That's why we're going to have thousands of volunteers knocking on doors and making calls this weekend, and why we're going to work hard towards the final FEC deadline of our primary next week.

Bernie wants to see California in our win column. I do too.

Do you?

Yes, I can volunteer to call California voters for Bernie this weekend.

Yes, I can contribute $3 to Bernie's campaign to help win California.

Five more states also vote with California, and we're going to fight to win there too. Let's keep our political revolution going all the way to the convention.

In solidarity,

Jeff Weaver
Campaign Manager
Bernie 2016

Voters in America

The voters in America are now registered as Democrats, Republicans and Independents. In some states, the proportions are equal, i.e. one third for each camp. Link

Nationally, there were more Democrats than Republicans in the past, but this has now reversed. Generally, the voters have became disillusioned with both parties, as the politicians were working for the "money interests".

In the 2016 primary election, there were strong support for the non-establishment candidates like Donald Trump and Bernie Sanders. They attracted the support of the people who were disillusioned with the two "establishment" parties.

Be considerate to pedestrians

I alight at the bus stop in Yio Chu Kang Road and cross the road to get to my home.

Many years ago, I could cross the road at any place. The traffic is usually quite light, so it did not pose any problem to pedestrians.

One day, the road authority decided to construct a pedestrian crossing with traffic lights. This is probably useful on the times of the day when the traffic is heavy.

The road authority decided, in their infinite wisdom, that they should erect a barrier 50 meters on both sides of the crossing to force pedestrians to use the crossing. I do not understand why they have to force pedestrians to walk the extra distance, when most of the time they could cross the road safely without the help of the traffic lights.

Again, in their infinite wisdom, they set the traffic lights to stop the vehicles after a long delay. Sometimes, it takes two minutes or longer. During this time, there is usually a safe gap for pedestrians to cross the road without waiting for the vehicles to stop.

Many pedestrians cross the road during this safe gap, as they do not need to wait for the green man to appear.

I do not understand why the road authority make life difficult for people, and unnecessarily. They could have allowed the pedestrians to cross the road without the assistance of the traffic light during most times of the day. The pedestrians would be quite happy to use the pedestrian crossing when necessary.

The customer buys a 5 year policy but did not realize that the money is locked up for 10 years

If you buy a 10 year life insurance policy, you expect to pay premium for 10 years and to get the maturity benefit at the end of 10 years.

If you buy a 5 year policy, you expect to get the maturity benefit back after 5 years.

That is what an ordinary lay person will expect. However, there is a catch.

It is now quite common for an insurance company to issue a policy where the premium is payable for 5 years but the maturity benefit ill be paid at the end of 10 years.

The insurance agent, or the marketing officer of the bank, tells the customer - "I want to introduce you a 5 year life insurance policy. You only need to pay premium for five years and can get a yield of x% on maturity".

The agent does not tell the customer precisely that the maturity is at the end of 10 years. Or maybe the agent did tell the customer, but the customer does not pay attention to this point.

The agent knows that the customer does not want to lock up the money for a long period, so he or she will not emphasize this period of 10 years.

In the past, the insurance agent is required to present a benefit illustration that follows a standard format. This format will be transparent in showing the actual term of the policy.

In recent years, the insurance agent or the marketing officer started to show a modified format. This takes the form of a simplified benefit illustration or may be presented on a mobile tablet. It is easy for the agent to hide this point, or for the customer to mis-understood it.

The bank or insurance company will send the actual benefit illustration, that follows the standard format, together with a thick wad of papers. Most customers do not read all the papers. They thought that they have already understood the product. When they realize that they were misled, it would be too late.

A poor deal for their customers

Dear Mr Tan,

I notice that the policies from various insurance companies mostly work on the same pattern.

1. Low guaranteed returns

2. High but non-guaranteed returns.

3. Long break-even period.

Do you know why they don't have anything more innovative and provides a decent deal for the customers?

REPLY

They make more profit by giving a poor deal to their customers.

They provide low guaranteed returns so that they can make a good profit on early withdrawal or "surrender" of the policy.

They give high, non-guaranteed return to make the policy look good on maturity. However, a high component of the return is not guaranteed.

Bernie Sanders gets another senator to speak to his supporters

Sisters and Brothers -

When I introduced a bill in the Senate that would slow the effects of climate change, I knew that I could count on Bernie Sanders to stand with me from the very first day.

Last year Bernie and I introduced the Keep It in the Ground Act, which would prevent new fracking, coal mining, and oil drilling on federal lands, as well as all new offshore oil drilling.

Bernie and I are committed to this fight because we know we can – and must – slow the pace of climate change. Scientists tell us that we need to keep 80 percent of remaining fossil fuels in the ground to prevent the worst effects of climate change.

I knew I could count on Bernie to fight this fight — can I count on you, too? Add your name to join me and Bernie in supporting the Keep It in the Ground Act. Click here to say you support our plan to prevent the worst of climate change's effects.

To stop climate change from destroying our planet, we must act quickly and boldly to bring an end to the extraction and exploitation of fossil fuels in lands owned by the American people.

Not one more lease to extract coal.

Not one more license for fracking.

Not a single additional offshore oil drilling rig.

We must keep 80 percent of the world’s proven reserves in the ground – and the Keep It in the Ground Act is a powerful step toward this goal to avert climate catastrophe.

The fossil fuel industry is geared up for a fight. The Koch Brothers want us to fail, and we expect heavy resistance from people who profit off of the destruction of our planet.

Showing tremendous public support will help pass the Keep It in the Ground Act – will you be a partner with me and Bernie in this movement to fight climate change?

Click here to show your support for my bill with Bernie Sanders to keep fossil fuels in the ground.

We’re building a movement to take on climate change and speed up our transition to clean, renewable energy. We need to act together and we need to act now.

Jeff Merkley
U.S. Senator from Oregon

An unusual Singaporean

Thomas (not his real name) came to see me on three separate occasions. His friend recommended a Prulink policy to him. He wanted my opinion about the policy.

I asked him to send the benefit illustration to me. He did. I analyzed the policy and presented my report to him. He insisted on seeing me, and indicated that he would pay my consulting fee.

I asked him to make a donation to FISCA instead. On each visit, he wrote a cheque for $250. I spent between 1 to 2 hours to explain the policy to him. He had several related questions and wanted my explanation.

He made three visits and donated a total of $750 towards FISCA.

I find him to be an unusual Singaporean. He was willing to pay for consulting fees, even though he could have avoided it.

Thomas felt that the fee was worth it, as it saved him a few tens of thousands from making a bad investment. 

Max Growth Plus

The Max Growth Plus a policy which requires premium to be paid for 6 years. The policy matures at the end of 12 years.

The return on the policy at maturity is quite modest, slightly less than 3% per annum.

The risk is that the policyholder may have to terminate the policy before the maturity date. In that case, he is likely to lose a large sum of his savings.

As the yield on maturity is not attractive, it is not advisable for the policyholder to buy this policy and take the risk of suffering a large loss on early withdrawal.

Read more details from the PDF here.
http://fisca.sg/Info/339/Max-Growth-Plus

We need a law on renewal of leases

The food court in Thomson Plaza was operated by Kopitiam for many years. One day, customers saw different stalls. A new operator, Koufu, had taken over.

The convenience store at Yio Chu Kang MRT station was operated by Cheers for many years. A new operator, 7-eleven, took over.

Did the consumers benefit from the change of operators? Did they get a better selection of food or daily necessities? Did you enjoy lower prices? No! They probably end up paying more.

The original tenants did not give up the outlets because they failed in their business. They continue to do well and opened more outlets at other locations. They gave up the existing outlets because a new operator submitted a higher bid for the lease of their premises.

The new operators had to spend a considerable sum of money to renovate the outlets. The higher rental and renovation costs must be recovered through higher prices charged to the consumers.

This type of change of operators had been happening all over the place for many year. This is how the cost of living continues to escalate in the most expensive city in the world. This bad practice has to stop. How can it be done?

We need our parliament to pass a law regarding renewal of leases. The existing tenants must be given the option to renew the lease at the existing rental plus an adjustment for inflation. A further adjustment may be allowed if the existing rental is more than 10% below the market - which can be determined by market data available from the tax authority.

This law will be fair to both tenants and landlords. It will stop the wasteful practice that is prevalent in Singapore. It might help to moderate the cost of doing business and the prices charged to consumers.

Bernie Sanders endorse several candidates for Congress and state legislatures

Sisters and Brothers -

No president, not Bernie Sanders, not the greatest president you could possibly imagine, can take on the billionaire class alone. And that’s because change never happens from the top down, it always occurs from the bottom up.

That’s why today I am announcing my support for eight progressive state legislative candidates who embody the spirit of our political revolution.

Today, they are state representatives running for re-election or challenging to win their first race. Tomorrow, they’ll be progressives running for Congress and maybe even the presidency. And in 2020, they’ll help determine how congressional districts are drawn for the remainder of the next decade — a key to Democrats taking back and holding the House of Representatives for the decade to come.

It’s up to us to transform the future of the Democratic Party, and that’s why I am proud to ask:

Can I count on you to split a $2.70 contribution to our campaign and a great slate of progressive state legislative candidates as a way of saying we are going to fight to transform our country, and the Democratic Party, from the bottom up?

Justin Bamberg is a state representative from South Carolina who was an early endorser of Hillary Clinton’s campaign but switched his endorsement before the primary because of Bernie’s work for "racial, social, and economic justice." Justin won his last election by ONLY 113 votes and needs our support in what’s sure to be another close race this November.

David Bowen is the son of Jamaican immigrants who is running for his second term in the Wisconsin State Legislature. He fought for and won a living wage for Milwaukee city employees and is a progressive champion Wisconsin needs.

Clara Hart is a refugee from Mozambique whose family fled from violence when she was just 8 years old. Now she's running for the South Dakota House, where she hopes to continue her work for immigrant families.

Terry Alexander is a representative in the South Carolina legislature who supports raising the minimum wage, expanding health care, and protecting the right to vote. He is a courageous legislator who I'm proud to support.

Carol Ammons became the first African-American woman to win election in her district of the Illinois State Legislature, scoring an upset election victory against a well-funded establishment opponent. She's fighting for progressive issues and candidates and deserves our support.

Chris Pearson is running for the Vermont State Senate after spending four terms in the Vermont House of Representatives. He is a champion on the issues of livable wages, strong labor union advocacy, climate change, and voting rights. This year he was able to pass a bill into law for automatic voter registration. Chris is a good friend of working people and of mine.

Jane Kim is the first Korean American to win election in San Francisco, and she's running to become a California state senator. The daughter of immigrants, Jane is a civil rights attorney who's fought for affordable housing and fair wages in her city.

Joe Salazar is a representative to Colorado's state house who is a tireless advocate for stopping fracking, protecting civil rights, and advancing criminal justice reform. He won his last election by just 221 votes, and your support will go a long way to helping him win this year.

Can you split a $2.70 contribution to our campaign and these candidates as a way of saying we are going to fight to transform our country, and the Democratic Party, from top to bottom?

We are going to keep fighting for every vote, every delegate, and every state, but this moment also requires helping progressives who are fighting for change at the local level. That is the political revolution, and that’s why splitting your contribution between our campaign and this great slate of local candidates is so important.

In solidarity,

Bernie Sanders

Hybrid products sold be banks should be banned

Some banks sell hybrid products, such as the following example.

You can get a higher interest rate on your fixed deposit provided that you also invest in a life insurance policy.

The bank may offer an interest rate of 3.3% on the deposit (when the normal interest rate is say 1% lower) provided that a certain amount is invested in the insurance product.

I have come across many cases where the customer is not properly informed about the insurance product. As it is sold as a secondary product, the customer does not pay sufficient attention to understand the features of the product.

In some cases, they think that they are investing in another investment and are not aware that it is a life insurance policy that has a high penalty if the regular premium is not paid.

In some cases, they were given the impression that it is a 5 year policy when the 5 year is the period of premium payment and the policy will only mature after 10 years.

In some cases, they were not aware that the policy requires the premiums to be paid for several years. They were under the impression that it is a one time investment.

The customers are usually assured that they can get back their money at any time, and were not aware that the withdrawal amount, or surrender value, is far less than the invested amount. They have to suffer a large penalty on withdrawal before the maturity date. In other words, the investment could be locked up for 5 years, 10 years or even longer.

The risk of mis-selling is high when the life insurance is sold as a secondary investment to accompany a higher rate of interest paid on the fixed deposit.

Due to this risk of mis-selling, which is quite rampant, the Monetary Authority of Singapore should ban the sale of these hybrid products.

Prepare for a world of tariffs

If Donald Trump or Bernie Sanders becomes the President, America will introduce tariffs on products that are imported into the country. Donald Trump referred to tariffs of 35% for cars entering the country. Bernie Sanders did not state any figure, but he probably have to use the same approach.

Even if Hillary Clinton is elected as President, she would come under the same pressure to introduce tariffs to bring the jobs back to America.

My view is that it is good for countries to introduce tariffs. This is the only way to protect jobs in their country. The disappearance of the middle class, due to reduction of wages caused by global competition, is not good for any country.  It has lead to social tensions and unrest.

Here are some good effects on the introduction of tariffs:

a) The government collects revenue form the import tariffs.
b) The additional revenue can allow the government to provide better public services without increasing taxation.
c) The higher prices for imported goods encourages companies to produce the goods within the country and to pay higher wages to the local workers.
d) The price of consumer goods will increase, but not to the same extent of the tariffs. Corporate profits and top management salaries will have to adjust downwards to offset part of the tariffs.
e) The government may be able to reduce the VAT or sales tax, as they now have an additional source of revenue from the import tariffs.
f) There is less need for countries to adjust their currency values to become more competitive in their exports.

There could be some negative effects on the re-introduction of tariffs into the global trading system, but they are likely to be more than compensated by the positive effects.

I am in favor of introducing tariffs into the new global trading system.

US polls on the November general election

The latest polls shows that Hillary Clinton might lose to Donald Trump. But Bernie Sanders will beat Donald Trump by a big margin.

Say "No" to "Corporate Greed"

When a profitable company retrench its local workers by outsourcing their jobs to low wage countries, the company is engaging in "corporate greed".

We need a government that knows how to deal with this kind of unacceptable behavior. Does the PAP government have this ability to look after the interest of its citizens?

Prabu Ramachandran

7 hrs · Singapore · 

Globalisation is the biggest myth, bullshit & lie that we have been fed. 1500 jobs from DBS outsourced to India. Orchard Road retail belt is failing. These 2 may seem un related but they are part of economics and the bigger economy.

Taxi companies are being challenged by 3rd party app companies, this benefits the consumer and the drivers as it created a new market.

Singtel we know outsources local call receivers to KL & Malacca to save on the SGDMYR exchange rate. These companies are backed by Temasek Holdings which is supposed to be SINGAPOREANS' national fund management. It makes sense that they should act in the interest of Singaporeans & creating jobs for Singaporeans.

ASEAN agreement on free movement of labor

Has Singaporeans woken up to this development? Are they still in slumber? Will they only wake up when they have lost their jobs to low cost foreigners?

https://sonofadud.com/2015/05/22/have-singaporeans-woken-up-to-the-implications-of-the-asean-agreement-on-free-movement-of-labour/

Dealing with tax havens

This is how the UK government wishes to deal with tax havens.
Perhaps the Singapore government should set up similar measures?
http://www.bbc.com/news/uk-politics-36009645

Bernie Sander's campaign supports another candidate to challenge the current head of the Democratic National Committee

Sisters and Brothers -

The political revolution is not just about electing a president. We need a Congress with members who believe, like Bernie, that we cannot change a corrupt system by taking its money.

So let me introduce you to Tim Canova, a progressive challenger who is running against Rep. Debbie Wasserman Schultz in a Democratic primary in Florida this year.

Tim endorsed Bernie’s presidential campaign, and was inspired to run because of Wasserman Schultz’ support of the Trans-Pacific Partnership. His campaign is funded like ours, by lots of people giving small amounts of money.

And on issues like taking on Wall Street, making tuition free at public colleges, and reforming our broken campaign finance system, he is someone you can be proud to support. That's why Bernie is endorsing Tim's campaign, and why we’re proud to ask:

Splitting a $2.70 contribution between Bernie 2016 and Tim Canova for Congress will help elect progressives up and down the ballot while sending an UNMISTAKABLE message about our political revolution’s commitment to electing candidates who share our values.

A few weeks ago, we raised a tremendous amount of money for three progressive candidates for Congress. Your support changed their races overnight. In the days ahead, we’re going to add a dozen or more additional candidates to that list.

We’re doing this because it is too late for establishment politics and establishment economics. We need real change. We need U.S. Senators, members of Congress and state legislators who have the guts to take on the big money interests whose greed is destroying the American middle class.

Tim Canova is one of those candidates, and I hope you’ll join Bernie in support of his campaign:

Split a $2.70 contribution between Bernie 2016 and Tim Canova for Congress today. This is important.

Thank you for powering this political revolution.

All my best,

Jeff Weaver
Campaign Manager
Bernie 2016

Invest our efforts at home and in nearby countries

Whenever the Singapore economy is in trouble, we see our leaders travelling around the world to open opportunities in other countries. Like this visit.
http://www.channelnewsasia.com/news/singapore/invest-time-in-russia-to/2804648.html?sc_customer=10b49691-b4ce-46cc-9e58-1e4cec0f9b99&sc_src=email&sc_llid=1263&sc_lid=41638256&sc_uid=22K6jmHe3A

Does the PM realize that similar visits in past years did not produce the positive results? Such as the visits to India and several other countries? It seemed that the flow of the business opportunities went in the other direction.

There are so many opportunities to be developed in Singapore, such as our infrastructure, transport, education, health and public services and improving the efficiency of our financial services and business processes. It is better to focus the attention at home.

There are also business opportunities in neighboring countries, where our old relationships, business ties and familiarity with the business environment give us an advantage.

There are still issues to be sorted out between the respective governments. It is better to spend the time to work on these issues.

Bernie Sander's political revolution

When we started this campaign, my greatest fear was that if we did not do well that it would be a setback not just for me, but for the ideas driving our campaign.

We had no campaign organization, no money, and very little name recognition. The corporate media called us "fringe," we were taking on the entire Democratic establishment, and we were down 60 points or more in the national polls.

Then a supporter from Chicago, Illinois made the first contribution to our campaign — for $3. A few minutes later, $50 from a supporter in California, then $10 from someone in Georgia. A little more than 12 months later, I am humbled to share that our campaign has received more than 7.6 million contributions through April, more than any presidential candidate at this point in a campaign ever. And we’re just getting started.

Your support has powered us to 21 victories and a much larger lead against Donald Trump than Secretary Clinton’s campaign. So we’ve created a website to show everyone the depth and diversity of our political revolution. It’s very important that you visit and share it with everyone you know today.

- Bernie

https://BernieSanders.com/Revolution/

Gods in the ivory tower of MAS

The "gods" living in the ivory tower of the Monetary Authority of Singapore are concerned about internet security.

They passed a decree to the banks, stockbrokers and other denizens in the financial sector to impose a high standard of internet security, including the following:

a) All passwords must be a strong password forming a combination of capital letter, small letters, numbers and special characters.

b) The passwords must be changed at regular intervals and cannot be reused in the future.

What the gods did not realize is that an ordinary citizen, like me, is impacted in a most severe way. I have to maintain a confusing arrays of passwords for the following:

a) Two Paypal accounts - personal and corporate
b) One CDP account - using Singpass
c) Several stockbroking accounts for investments and trading

The administrators of these websites have different definitions of what is a strong password - so I cannot use a common password for some of these accounts. The regular change of passwords is a nightmare. The change request usually occurs at a bad moment, when I do not have the time to pay attention.

The outcome? I have to write down all the passwords in a notebook. It can be accessed by anyone who finds my notebook (isn't it risky?). Sometimes, I forget to update my notebook with the change in password and cannot remember the "funny" password that was created at the last change.

My online experience is now a nightmare - thanks to the "gods" in the ivory tower of the MAS.

Compare the Hong Kong MTR and Singapore MRT

This article compares the Hong Kong MTR with Singapore's MRT.

It also reflects the difference in emphasis of the government of Hong Kong and Singapore. The Hong Kong government is much better in looking after the interest of its citizens. The Singapore government is "out of this world" and "in the clouds".

http://mothership.sg/…/how-successful-is-hong-kongs-mtr-co…/

A ridiculous structure of taxi fares

The government allows each taxi companies to set their own fares. This can produce a ridiculous situation that occurs daily.

At the airport queue for taxis, the usher asked the passenger in front of me. Do you want the Mercedes taxi with starting fare of $3.90. No. Do you want the Chrysler with staring fare of $3.90. No. Do you want the Maxi Cab with starting fare of $5. No.

The usher went down the queue to ask the same sets of questions to every passenger. The answer is still "No".

 These expensive taxis occupy three spaces and must have been there for some time. The poor usher, who speaks with a foreign accent, must have asked the question 10 to 20 times before a passenger take the "offer".

The usher is not telling the complete fact. It is not just an increase in the starting fare. There is also an increase on the distance fare. My usual fare of $25 could earn up 30% higher with the expensive fare.

This ridiculous situation must be occurring for many years, not only at the airport but all over Singapore. Our million dollar ministers are not aware of it, or maybe they don't care.

Bernie Sanders is likely to win Kentucky State

With 95% of the votes counted, Bernie Sanders is ahead of Hillary Clinton by a whisker, less than 1%. It is a virtual tie.
This is a great achievement for Bernie Sanders. The voters of Kentucky have supported the Bill and Hillary Clinton for the past two decades.
Bernie Sanders has achieved an upset victory!

It is not cool to not know what you are talking about

A great speech by Barack Obama. He is subtly negative of Donald Trump.
https://www.facebook.com/BusinessInsider.Politics/videos/1015027085240290/

How to get the Amazing Number cards

Mr. Tan
Where can I get the Amazing Number cards?

Reply
You can order them here. You pay $6 for 4 sets of cards. It makes a wonderful gift.
Great news - postage is FREE for the time being.


http://www.tankinlian.com/cart.aspx?ID=41

Watch the video here
https://www.youtube.com/watch?v=441VgUkVk2E

Display the sequential stop number in the bus

Here is a simple and inexpensive solution to make travelling easier for the public. The bus operator should install a sequential stop number to be displayed in the bus when it arrived at each stop. This allows the passengers to know if they have arrived at the right stop, Even if they are familiar with the road, they cannot see the landmark when they are travelling at night, when it is raining heavily or the bus is crowded.

http://tankinlian.blogspot.sg/…/bus-should-display-sequenti…

We do not need the transport minister to be paid a million dollars a year. He only needs to be aware that there is a problem with the current system, and take feedback from the public on how it can be solved.

Secret of the Amazing Number cards.

I created the Amazing Number game with 7 cards. These cards have starting numbers of 1, 2, 4, 8, 16, 32 and 64.

For any selected number, I find the combination of starting numbers that make up that number. For example, the number 13 is made from 1 + 4 + 8. So, I put the number 13 on these 3 cards.

If someone chooses 13 as the secret number, they will find it on the three cards starting with 1, 4, and 8. When they give the 3 cards to me, I add the starting numbers (1, 4 and 8) to get 13.

Easy, isn't it? This is the secret of "reverse engineering".

A good chance for Donald Trump to be elected as President

There is a good chance that Donald Trump will be elected as President of the USA. Here are the reasons:

1.  Hillary Clinton might be indicted for the email scandal. Even if she is not indicated, Donald Trump can focus on this issue to his advantage.

2. If Hillary Clinton is indicted, the establishment Democrats are likely to nominate Joe Biden as the candidate. This will anger the Bernie Sanders supporters. Many of them will not vote in the election or will vote for Donald Trump.

3. The polls have recently changed in favor of Donald Trump. The strong lead of more than 10 points held by Hillary Clinton in the polls have now virtually disappeared. Donald Trump is now ahead in some polls.

4. Donald Trump has shown a remarkable capability of attracting large numbers of voters to support his views and position. When it comes to the general election, he is likely to continue this trend.

5. Donald Trump has recently taken a more moderate position on many of the extreme views that he articulated earlier. He is now seen in a more positive light.