WOTC - Trust bank set up by Fairprice

 Wisdom of the Crowd: 68 % of the respondents said that they will not support Trust Bank because the prices in the Fairprice supermarkets are too high.

https://tklcloud.com/Crowd2/chart3.aspx?id=2699

WOTC - Wearing of masks on public transport

 Wisdom of the Crowd: 63 % of respondents said that wearing of masks on public transport should be voluntary, as the infection is now mild. Commuters who are at risk will wear the mask for their own protection.

https://tklcloud.com/Crowd2/chart3.aspx?id=2697

Do not switch a life insurance policy

 Avoid switching from one life insurance policy to another. You will pay the hefty upfront cost (usually two years of premium) again.

https://fisca.sg/ArticleDisplay.aspx?ID=1240&Name=Avoid-switching-from-one-life-insurance-policy-to-another&View=A

Wisdom of the Crowd - New Issues

1. Is it good for Singapore to sponsor the Formula 1 Grand Prix?
2. Will many customers join Trust Bank set up by NTUC Fairprice?

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

Wisdom of the Crowd - New Issues

1. Is it good for Singapore to sponsor the Formula 1 Grand Prix?

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

WOTC - Implementing changes to national policies

 Wisdom of the Crowd: 86 % of the respondents said that changes should be made voluntary at the initial stage to gather the experience before making them mandatory.

https://tklcloud.com/Crowd2/chart3.aspx?id=2696

Foreign workers sleeping on the walking path

 Yesterday, I walked from my home to Grassroots Club. On the way, I saw a few foreign workers sleeping on the pathway. It was early in the morning, at around 8.30 am.

I do not know how to lodge a report to the government.

https://tklcloud.com/Feedback/feedback2.aspx?id=5501

Humanoid robot

 Tesla will be unveiling its humanoid robot on 30 Sep 2022. It is expected to be used in the Tesla gigafactories to do the tedious work that humans are not willing to do.

I wish to give my view about what the humanoid robot will be like.
https://tklcloud.com/Feedback/feedback2.aspx?id=5500

Wisdom of the Crowd - New Issues

1. Are high HDB prices a serious problem for young Singaporeans?

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

WOTC - Will the Russian economy collapse?

 Wisdom of the Crowd: 94% of the respondents said that the Russian economy will remain strong and robust, in spite of the sanctions imposed against Russia due to the Ukraine conflict.

https://tklcloud.com/Crowd2/chart3.aspx?id=2695

Do not overreact to stolen personal information

 My friend in Australia said.

Optus informed that it had been a victim of a cyberattack. The telecom company sent me an email yesterday:

My personal identity information were stolen.

TKL replied.

https://tklcloud.com/Feedback/feedback2.aspx?id=5499

Indonesians are polite people

 The Indonesians are polite people. This is reflected in their language.

They call an adult male as Pak. I am Pak Tan. Pak is short for "bapak" or "father".

It shows respect to call another person, including a stranger, as "pak".

My Indonesian made call my grandson Paul as "bang". It is short for "abang" or "elder brother". She called Paul "bang" even though Paul is the youngest in the family.

I visited Indonesia every month prior to covid. I find friendly and polite people all over the place, including those working for the government.

I am sure that there will be some nasty people, but they appear to be not common. At least, I have not encountered them.

Super Mall - many stores have been updated

 Many stores have been updated into the malls in Super Mall.

You can download the app from Android Play Store or IOS App Store. Look for Super Mall - Great Shopping.

https://www.youtube.com/watch?v=GVN8RW5FcKI

WOTC - Ukraine war

 Wisdom of the Crowd: 75% of the respondents said that China will help Russia in the Ukraine conflict, but will do it quietly.

https://tklcloud.com/Crowd2/chart3.aspx?id=2694

DBS Bank has a lazy and bad attitude.

https://tklcloud.com/Feedback/feedback2.aspx?id=5498

Wisdom of the Crowd - New Issues

 

1. Which country is blocking a settlement of the Ukraine conflict

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

Excellent customer service from SingX

https://tklcloud.com/Feedback/feedback2.aspx?id=5497

WOTC - Who will win the war in Ukraine

 Wisdom of the Crowd - 82% of the respondents expect Russia to win the war in Ukraine on its own or with the support of China.

https://tklcloud.com/Crowd2/chart3.aspx?id=2693

Can China help to end the military conflict in Ukraine?

 The Australian foreign minister, Penny Wong, asked China to help find an end to the war in Ukraine.

She believed that China can influence Russia to negotiate with Ukraine to find a peace settlement.

https://tklcloud.com/Feedback/feedback2.aspx?id=5496

Reserve currency

 I expect that China will soon take this bold step to make its currency as a reserve currency.

https://tklcloud.com/Feedback/feedback2.aspx?id=5494

Wisdom of the Crowd - New Issues

1. Will the West lift its sanctions against Russia soon?
2. Will there be social unrest in many countries in Europe due to high cost of living?

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

WOTC - National service

 Wisdom of the Crowd: 61% of the respondents wish to see full time National Service reduced to 1 year or abolished totally.

https://tklcloud.com/Crowd2/chart3.aspx?id=2692

WOTC - Keep property prices stable

 Wisdom of the Crowd: 69 % of the respondents said that the government should assist home owners by keeping property prices stable, and avoid causing many owners to suffer financial losses.

https://tklcloud.com/Crowd2/chart3.aspx?id=2691

WOTC - Same sex activities

 Wisdom of the Crowd: 53 % of the respondents said that society should continue to discourage same sex activities as it will harm the fabric of our society.

https://tklcloud.com/Crowd2/chart3.aspx?id=2690

Wisdom of the Crowd - New Issues

1. Do you support the law on Maintenance of Parents.

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

WOTC - Repeal of section 377A

 Wisdom of the Crowd: 50% of the respondents support the repeal of section 377A. The other 50% preferred to let the current law remain.

https://tklcloud.com/Crowd2/chart3.aspx?id=2689

Maintenance of parents law

 The SG government wants to amend a law to make children take care of their parents. They formed a working group to discuss the necessary changes.

I give my views here.
https://tklcloud.com/Feedback/feedback2.aspx?id=5493

WOTC - Law to compel children to take care of parents

 Wisdom of the Crowd: 59% of the respondents said that children should not be required by law to take care of their parents as there are many justified situations where the children do not want to take care of the parents.

https://tklcloud.com/Crowd2/chart3.aspx?id=2688

Wisdom of the Crowd - New Issues

1. Why do many Chinese Singaporeans support China?
2. Will the property market remain strong in Singapore?

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

WOTC - Funeral of Shinzo Abe

 Wisdom of the Crowd: 79% of the respondents said that it is appropriate for PM Lee to attend the funeral of Shinzo Abe as many other world leaders are also attending the event.

https://tklcloud.com/Crowd2/chart3.aspx?id=2687

Why is the property market still strong?

I share my insignificant view.

https://fisca.sg/ArticleDisplay.aspx?ID=1238&Name=Why-is-the-property-market-in-Singapore-still-strong?&View=A

Wisdom of the Crowd - New Issues

1. Why do many Chinese Singaporeans support China?

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

Review of Country Garden (2007.HK)

 I just bought 200,000 shares of Country Garden (2007.HK) for S$82,000.

https://fisca.sg/ArticleDisplay.aspx?ID=1237&Name=Review-of-Country-Gardens-(2007HK)&View=A

WOTC - Fly flag half mast to respect QE2

 Wisdom of the Crowd: 61% of the respondents disagree with the government's decision to fly the flag half mast as a show of respect to the departed Queen Elizabeth II.

https://tklcloud.com/Crowd2/chart3.aspx?id=2686

The government should provide the leadership to make necessary changes

 Many practices become outdated and ineffective. They need to be changed. But who should be responsible to show the way?

I consider it to be the duty of the government to recognize that change is needed and take the necessary steps to make the change.

https://tklcloud.com/Feedback/feedback2.aspx?id=5492

Change approach towards job interview

 I saw a post in social media that an employer canceled a job interview when the applicant ask to be interviewed virtually.

Who do we blame?

https://tklcloud.com/Feedback/feedback2.aspx?id=5491

Wisdom of the Crowd - New Issues

1. Is Russia losing the war in Ukraine?
2. Is China reducing its support for Russia?

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

WOTC - Royal pardon for Najib

 Wisdom of the Crowd: 50% of the respondents said that former PM Najib will receive a royal pardon within the next few months.

https://tklcloud.com/Crowd2/chart3.aspx?id=2685

The Arab world and China

This is why the Arab world stands firmly with China

This article by Keith Lamb, first published in CGTN on 14 September 2022, describes the friendly relations between China and the Arab world, noting in particular that the Arab states have refused to support the West’s slanderous accusations in relation to human rights in Xinjiang. Indeed, numerous envoys from the League of Arab States have …

https://socialistchina.org/2022/09/16/this-is-why-the-arab-world-stands-firmly-with-china/

WOTC - Next general election in Malaysia

 Wisdom of the Crowd: 59% of the respondents expect the Barisan National to win the next general election in Malaysia.

https://tklcloud.com/Crowd2/chart3.aspx?id=2684

Why the US dollar has not collapsed yet

 I share my insignificant view on why the US dollar has not collapsed yet (instead, it has strengthened) but the collapse will happen over the next one or two years.

http://www.tklcloud.com/Feedback/feedback2.aspx?id=5490

Fairprice changed its business model

 I share my views about the new business strategy of Fairprice and the launch of the Trust Bank in partnership with Standard Chartered Bank.
http://www.tklcloud.com/Feedback/feedback2.aspx?id=5489

Wisdom of the Crowd - New Issues

 

1. Will you support Trust Bank, set up by Fairprice and Std Chartered
2. Will Trust Bank, set up by Fairprice and Std Chartered, by profitable?

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

WOTC - Covid zero policy

 Wisdom of the Crowd: 47% of the respondents said that China continued the covid zero policy to disrupt the global supply chain, which affects the western nations most.

https://tklcloud.com/Crowd2/chart3.aspx?id=2683

Time to consider a new approach

 Our ministers continue to adopt a compulsory approach and implement heavy penalties for non compliance. There are many instances where a voluntary approach may be better.

https://tklcloud.com/Feedback/feedback2.aspx?id=5488

Wisdom of the Crowd - New Issues

1. Should changes be mandatory?
2. Should it be mandatory to wear a mask on public transport?
3. Should it be mandatory for pedestrians to obey the lights at controlled crossings?

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

WOTC - Moderate impact of inflation

 Wisdom of the Crowd: 79% of the respondents said that 79 % - The govt should reduce GST and taxes for the time being, to moderate the impact of inflation.

https://tklcloud.com/Crowd2/chart.aspx?id=2682

Wisdom of the Crowd - New Issues

1. Who will win the war in Ukraine?
2. Will China help Russia in the Ukraine war?
3. Will the Russian economy collapse?

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

Wisdom of the Crowd

 Vote on these issues and win a prize.

https://tklcloud.com/Crowd2/active_issue.aspx

WOTC - Inflation

 Wisdom of the Crowd: 80% of the respondents said that inflation is too high and should be moderated.

https://tklcloud.com/Crowd2/chart3.aspx?id=2681

Wisdom of the Crowd - New Issues

1. Should the govt assist home owners by keeping the property prices at a stable level?
2. Should full time NS be reduced?

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

WOTC - Use of POFMA

 Wisdom of the Crowd: 88% of the respondents said that the ministers should use POFMA only on extreme and deliberate cases of misinformation.

https://tklcloud.com/Crowd2/chart3.aspx?id=2680

Collective sale failed again

 This collective sale of a condo almost went through, but failed due to a last minute hurdle.

https://tklcloud.com/Feedback/feedback2.aspx?id=5487

Wisdom of the Crowd - New Issues

1. Should children be required by law to take care of their parents?
2. Do you support the repeal of section 377A?
3. Should society continue to discourage same sex activities?

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

AI and image processing

I met a business owner. He is involved in an AI project to identify the objects in a large collection involving over 10,000 objects.

His AI team encounter difficulty. He asked if I could help.

I told him that my expertise is in processing of data in a database. I am not an expert in AI or image processing. 

I searched Google and found that there are many tools available to do image processing and provide the results. 

I told the business owner that his AI team probably encounters problem in analyzing storing the data into the database and retrieving them in an efficient way. This is the area of my expertise. 

I appears to me, at this stage, that the challenge of AI and image processing may be solved by efficient processing of data in the database. 

Wisdom of the Crowd - New Issues

1. Should Singapore fly our flag at half mast to show our respect for Queen Elizabeth?
2. Should PM Lee attend the funeral of the former PM of Japan, Shintaro Abe?

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

Skyrocketing HDB flat prices

33 HDB flats were sold in August 2022 for more than $1 million.

This is a classic panic situation.

This is how a bubble builds up.

It can happen to any market.

The HDB property market is just one of them.

Why?

There are more than 1 million HDB flats in Singapore.

There should be more than 100,000 owners of flats in the category that are being sold for over $1 million.

With rising prices, most of the owners prefer to wait and see the prices go up further.

Only 33 were willing to cash out.

There must be several hundred buyers who are willing to pay more than $1 million.

Suppose 500 owners decided that they better cash out in this hot market.

The price will drop below $1 million.

This should also happen when the govt decides to increase the supply of HDB flats.

The era of million dollar flats may be temporary, or transitory.

With rising prices, most of the owners prefer to wait and see the prices go up further.

Tan kin Lian

Rebound of the US stock market

 The US stock markets is depressed. The economy is in trouble and inflation is high. Incomes have dropped and cost of living is high.

Against this backdrop, the US stock market rebounded last night. The investors bought shares because of a small dip in the bond yields.

The real reason, TKL suspects, is that there is too much money lying around. The US govt printed a lot of money. The money has to be invested somewhere.

Many investors are waiting to buy stocks at depressed prices. There is an oversupply of money that needs to be invested.

What will happen from here? Nobody knows. It could be a "dead cat bounce" and the stock market will plummet again. It could also be a recovery.

My financial crystal ball ECB is also confused. He said - Boss, the stock market may crash, but may also recover.

What kind of rubbish expert is ECB?

Tan Kin Lian

Wisdom of the Crowd - New Issues

1. Why does China continue its covid zero policy?
2. Who is likely to win the next general election in Malaysia?
3. Will former PM Najib receive a pardon?

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

WOTC - PAP at next GE

 Wisdom of the Crowd: 100% of the respondents said that the PAP will lose votes and seats at the next general election (Shhh. Only 12 people voted).

https://tklcloud.com/Crowd2/chart3.aspx?id=2677

BTO flats in Ang Mo Kio

 Did HDB make a profit on selling the BTO flats in Ang Mo Kio?

TKL shares his insignificant view here.
https://tklcloud.com/Feedback/feedback2.aspx?id=5484

Wisdom of the Crowd - New Issues

1. Should the minister use POFMA actively
2. Is inflation hitting the people badly?
3. Should the govt reduce GST and tax, to moderate the price increases?

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

WOTC - George Yeo

 Wisdom of the Crowd: 13% of the respondents said that George Yeo will be President of Singapore. The other 87% said that he will not play any role in the government.

https://tklcloud.com/Crowd2/chart3.aspx?id=2676

Move from Lazada to Shopee

 I will give up Lazada and move to Shopee for my online purchase. Here are my reasons.

https://tklcloud.com/Feedback/feedback2.aspx?id=5483

Evaluating risk

 I want to give this message to people who are paranoid about an unzipped bag or someone who forgot to wear a mask.

https://tklcloud.com/Feedback/feedback2.aspx?id=5482

Two transit cards in Singapore

 Two transit cards in Singapore - confusing and wasteful.

https://tklcloud.com/Feedback/feedback2.aspx?id=5481

WOTC - PM Lee's speech at ND Rally

 Wisdom of the Crowd: 88% of the respondents have a negative opinion about PM Lee's speech at the National Day Rally.

https://tklcloud.com/Crowd2/chart3.aspx?id=2675

China's infrastructure projects

The western media smears China on its infrastructure projects

https://tklcloud.com/Feedback/feedback2.aspx?id=5480

WOTC - Russia's military action in Ukraine

 Wisdom of the Crowd: 77.8% of the respondents support Russia's military action in Ukraine. (Shhh, the sample is very small).

https://tklcloud.com/Crowd2/chart.aspx?ID=2672

Use of payment cards

 I share my opinion about the use of stored value cards for small payments.

https://tklcloud.com/Feedback/feedback2.aspx?id=5479

TKL's views about cryptocurrencies

 Here are my views about MAS's attempt to promote cryptocurrency hubs in Singapore. Several platforms have got into financial difficulty.

https://tklcloud.com/Feedback/feedback2.aspx?id=5477

TKL's view about blockchain

 I now share my insignificant view about blockchain technology. I do not like it. I think it is not useful.

https://tklcloud.com/Feedback/feedback2.aspx?id=5478

My views about crypto currency

 

Here are my views about cryptocurrencies

https://tklcloud.com/Feedback/feedback2.aspx?id=5477

WOTC - Handle covid pandemic

 Wisdom of the Crowd: 100% of the respondents said that the ministerial committee handled the covid pandemic poorly.

https://tklcloud.com/Crowd2/chart3.aspx?id=2674

Wisdom of the Crowd - New Issues

1. Will there be a large stockmarket crash soon?
2. Is it safe to relax the covid measures?

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

WOTC - Employ health assistants

 Wisdom of the Crowd: 95% of the respondents said that it is better to employ health assistants to reduce the work load and stress faced by qualified nurses, instead of raising the salaries of nurses.

https://tklcloud.com/Crowd2/chart3.aspx?id=2670

WOTC - Help retirees without adequate savings

 Wisdom of the Crowd: What is the best way to help retirees who do not have adequate savings for retirement? 81% of the respondents said that they should be given part time work that are not strenuous and pays $12 an hour.

https://tklcloud.com/Crowd2/chart.aspx?ID=2671

Wisdom of the Crowd - New Issues

1. What role will George Yeo play in the future?
2. How will the PAP perform in the next general election?

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

Wisdom of the Crowd - New Issues

1. Did the SG ministers handle the covid pandemic well?
2. Did PM Lee gave a good speech at the National Day Rally?

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

Review of Ping An Insurance (2318.HK)

 A year ago, my friend asked for my view about Ping An Insurance (2318.HK). I told him that I prefer to invest in PICC Property & Casualty (2328.HK) as it is undervalued and offer a better return. Here is an update.

https://fisca.sg/ArticleDisplay.aspx?ID=1236

Lazada and Shoppe

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

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

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

Wisdom of the Crowd - New Issues

 

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

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

Wisdom of the Crowd - New Issues

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

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

Octopus card in well used in Hong Kong

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

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

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

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

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

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

TKL's alternative to the COE system

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

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

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

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

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

WOTC - Keep road congestion free

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

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

WOTC - Abuse work from home

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

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

Promote Cashless Payment in Singapore

 Here is my latest feedback to MAS.

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

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

Wisdom of the Crowd - New Issues

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

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

WOTC - COE system

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

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

WOTC - COE system in Singapore

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

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

Review of Senseonics (SENS)

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

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

Wisdom of the Crowd - New Issues

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

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

WOTC - productivity of remote work

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

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

WOTC - Foreign talents

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

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

WOTC - Change COE system

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

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

WOTC - Rishi Sunak

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

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

Encourage banks to charge fees for cash services

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

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

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

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

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

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

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

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

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

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

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

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

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

Wisdom of the Crowd: Next prime minister of the UK

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

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