Feedback on SP Group

 I sent this feedback to SP Group.

Feedback
I log into your app to see my bill. I wanted to see how much I paid for electricity and water.

I could not find this information, after going through all the screens of your app several times.

It was confusing.

Instead I get all kinds of irrelevant information, popup (which refuse to close).

It was very tiring.

Finally, I went to your website and managed to retrieve the bill.

Please do not waste customer's time with irrelevant information. If I want to know about how to participate in your green campaign, etc (and frankly I do not have the free time to spend), I would have sought the information in your website.

Tan Kin Lian

Their feedback form has 10 items (maybe more) of data for me to complete before I can submit the feedback. It is a big waste of my time.

Pricing of HDB flats (2)

 I propose this new approach to pricing HDB flats to remove the impression that the flats are unaffordable. 

http://tklcloud.com/Feedback/feedback2.aspx?id=5672

Pricing HDB flats

 I suggest a new approach towards pricing HDB flats

http://www.tklcloud.com/Feedback/feedback2.aspx?id=5671

WOTC - President of Singapore

 Wisdom of the Crowd: 59% of the respondents said that Ho Ching is likely to stand for election as president and will win.

https://tklcloud.com/Crowd2/chart3.aspx?id=2840

WOT C- US debt limit

 Wisdom of the Crowd: 64% of the respondents said that the US Congress will increase the debt limit at the last minute, avoiding a debt default.

https://tklcloud.com/Crowd2/chart3.aspx?id=2839

WOTC - 2024 US Presidential election

 Wisdom of the Crowd: 83% of the respondents said that Joe Biden will not stand in the 2024 election or he will lose if he stands for re-election.

https://tklcloud.com/Crowd2/chart3.aspx?id=2838

Wisdom of the Crowd - New Issues

1. Will you vote for Lee Hsien Yang as president of Singapore?
2. Will you vote for Ho Ching as president of Singapore
3. Will you vote for Lee Hsien Loong as president of Singapore

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

A poem to support Lee Hsien Yang

Lee Hsien Yang, a name so well known,

A leader of Singapore, now he's shown,

That he is frugal, humble, and wise,

Down to earth, and affable in our eyes.

His presence brings a sense of calm,

A leader who's down to earth, with no qualm,

The people feel heard, and their voice is clear,

His leadership style is one to revere.

Frugal in his ways, he spends with care,

Ensuring the country's finances are fair,

His policies aim to uplift the weak,

And bring prosperity to those who seek.

Humble in his approach, he's not one to boast,

A leader who listens, and values the most,

The voices of the people, who he serves,

With his heart and soul, he never swerves.

Down to earth, he's a man of the people,

A leader who's relatable, never feeble,

He walks the streets with grace and poise,

And connects with the masses, with no noise.

Affable, his nature, is warm and kind,

A leader who's approachable, with a clear mind,

He understands the people's joys and fears,

And works to bring solutions that endears.

Lee Hsien Yang, a leader we admire,

A president who's values we aspire,

Frugal, humble, down to earth, and affable,

A leader who's approach is nothing but admirable.

Tan Kin Lian

With help from ChatGPT

WOTC - Budget 2023

 Wisdom of the Crowd: 84% of respondents said that budget 2023 did not address the real challenges faced by households and businesses.

https://tklcloud.com/Crowd2/chart3.aspx?id=2830

WOTC - Flow of traffic across land crossings

 Wisdom of the Crowd: 82.6% of respondents said that the flow of traffic on the land crossing to Johor should be improved for the benefit of people in both countries.

https://tklcloud.com/Crowd2/chart.aspx?ID=2827

WOTC - CDC Vouchers

 Wisdom of the Crowd: 65% of the respondents said that the CDC voucher is a costly and wasteful way to provide financial assistance to households.

https://tklcloud.com/Crowd2/chart.aspx?ID=2831

Wisdom of the Crowd - New Issues

 

1. Should Lee Hsien Yang attend the police investigation on the alleged perjury matter?
2. Will you vote for Lee Hsien Yang if he contest in the presidential election in 2023?
3. What is your opinion about Lee Hsien Yang

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

Review of China stocks

 I invested $12.4 million HKD ($2.1 million SGD) in 13 Hong Kong stocks (mostly of China companies).

I reviewed my investments in this article
https://fisca.sg/ArticleDisplay.aspx?ID=1314

Measures to increase the birth rate

1. Someone wrote an article stating that it is not possible to increase the birth rate as women today prefer to have a career and do not wish to bear children.

2. I disagree with the writer (and the conventional wisdom). My view is that some women (perhaps half) wants a career, but the others are willing to be a home maker, if they are paid as much as a working woman.

3. The mums at home have to be paid by the state for the work of raising a family. The pay should be similar to what they can earn by working in a retail shop, eatery or factory.

4. In the case of Singapore, a suitable pay should be $1,000 a month for each child up to age 12 years, and up to 3 child per family.

5. The better educated women will want to be professionals and managers. Many of them do not want to raise children, or will only have one child (and keep pets). However, not all women can achieve these careers.

6. In the past, the cost of living was low, so families can afford to have mums at home. But today, the cost of living is high, and many families cannot afford to have mums at home. They have to go out and work, and raise less children.

7. This problem is faced by all countries under the free market economic system, and not by Singapore alone. They all suffer the same problem, and have the same sickness (i.e. declining population).

8. Can the state afford to pay these mums at home? The state can, if they can get the high income people to pay more tax.

9. My proposal will attract the women that are not highly educated and do not mind being mums at home - if the get an adequate income for this "job".

10. I do not agree with the elitist concept promoted by the Singapore government, i.e. to encourage well educated women to produce more children and discourage the less education women from doing so. This is the source of the problem faced by Singapore.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5667

Wisdom of the Crowd - New Issues

1. Will Joe Biden win the 2024 election?
2. Will the US default on its debts?
3. Will Ho Ching stand for the Singapore presidential election in 2023?

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

Wisdom of the Crowd - New Issues

1. Is it acceptable for China to provide arms to Russia?
2. If America implement comprehensive sanction on China, what will happen?
3. Can China dump US dollars?

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

Wisdom of the Crowd - New Issues

1. Should NS reservists who work overseas be exempted for reservist duty?
2. Should Singaporeans be encouraged to work outside of Singapore?

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

WOTC - Financial adviser to Malaysia PM

 Wisdom of the Crowd: 64% of the respondents said that it is proper for PM Anwar Ibrahim to appoint his daughter as a financial adviser as he needs a person that he can trust.

https://tklcloud.com/Crowd2/chart3.aspx?id=2829

Wisdom of the Crowd - New Issues

1. How was Singapore's Budget 2023
2. Do you agree with the vouchers given to households?
3. What is the key economic priority for Singapore in the immediate future?

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

WOTC - High altitude balloon

 Wisdom of the Crowd: 55% of respondents said that it was not necessary for America to shoot down the high altitude balloon, as China already notified them that it was a civilian weather balloon that went out of control.

https://tklcloud.com/Crowd2/chart3.aspx?id=2828

WOTC - Civilian weather balloon

 Wisdom of the Crowd: 64% of the respondents said that the unauthorized balloon flying over America was a civilian weather balloon.

https://tklcloud.com/Crowd2/chart3.aspx?id=2825

WOTC - PM Anwar Ibrahim

 Wisdom of the Crowd: 55% of respondents are positive about Malaysia under PM Anwar Ibrahim.

https://tklcloud.com/Crowd2/chart3.aspx?id=2826

WOTC - Traffic flow at the Johor crossings

 Wisdom of the Crowd: 84% of respondents said that the traffic flow at the two Johor crossings should be improved for the benefit of people of both countries.

https://tklcloud.com/Crowd2/chart3.aspx?id=2827

Excellent customer service from Tiger Brokers

 1. I have given examples of poor customer service provided by many businesses in Singapore, including banks, telephone companies and others. 

I often find it difficult to access the customer service channels, and have to provide a lot of irrelevant data, before I could ask my question. They usually reply "within 4 days". Often, I do not get any reply.

2. I will now share an example of an excellent customer service provided by Tiger Brokers, which has an operation in Singapore. 

3. I have recently opened an account with Tiger Brokers. As a new customer, I needed to get assistance on several issues. Here is my experience.

a) I am able to access the Feedback tab and provide my questions. It is answered within one day.

b) I can access the Live Chat tab. It is answered immediately. I know the code of the agent that attends to me. 

The answers given by both channels are accurate. 

4. I commend Tiger Brokers for their excellent customer service. It was possible because they have an excellent platform to handle customer service. 

Tan Kin Lian
​​​​​​​https://tklcloud.com/Feedback/feedback2.aspx?id=5650

POEMS vs Tiger Brokers

 I find Tiger Brokers to be better than POEMS (from Phillips Securities)
https://tklcloud.com/Feedback/feedback2.aspx?id=5646

Possible increase in population target

 1. The minister for national development reported in parliament that HDB will ramp up BTO projects, with 150 projects to be built by 2025.

2. I searched the news report to find out how many units are comprised in the 150 projects. I could not find any mention. I am disappointed that the minister failed to give relevant information and the media does not ask for this information.

3. I searched the Internet and found a news report that 10 projects comprising 10,000 units were offered recently. I guess that each project would yield about 1,000 units.

4. The 150 projects would probably yield 150,000 units. This is over a period of three years. The annual rate is 50,000 units per year.
This is rather high. The number of marriages each year is about 25,000.

5. Perhaps some of the flats are required to clear the backlog, as the waiting time for a new flat is currently 5 years.

6. It is possible that HDB is building for more foreigners to live in Singapore. We might be aiming to increase our population to 6.9 million, or even 10 million. This was planned in the past.

7. As the MRT network has been expanded considerably during the past ten years, it can probably cope with the increase in population. However, I am not sure if we are building enough schools, hospitals and other facilities to cater for the bigger population.

Tan Kin Lian

https://tklcloud.com/Feedback/feedback2.aspx?id=5640

ChatGPT and similar software

 1. Many people found ChatGPT to be useful. I agree. I have used it often.

2. Some people found that ChatGPT and similar software are not totally accurate. They were able to trick in the software into giving unreliable output.

3. This is my guess of the inaccuracy of information:

a) ChatGPT - perhaps 1%

b) Google search - perhaps 10%. I make this estimate because the search produces many resources, and the user might select the wrong resources or interpret them wrongly

c) Content spread through social media - perhaps 30%. Many of these contents are made with the bias of the creator or were deliberately faked to mislead the reader.

4. I use my common sense to read and understand the content and decide if it is credible. Sometimes, I verify with an alternative source. If the output is not credible, I disregard it.

5. I am not worried that the output produced by ChatGPT or similar software may be unreliable. I do not trust the output totally. In spite of the possible inaccuracy, I will use the software, because it is helpful.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5639

WOTC - Democracy

 Wisdom of the Crowd: 53% of the respondents do not like the system of democracy practiced in America, UK or Singapore.

https://tklcloud.com/Crowd2/chart3.aspx?id=2824

WOTC - State funded media

 Wisdom of the Crowd: 68% of the respondents said that we do not need a state funded media.

https://tklcloud.com/Crowd2/chart3.aspx?id=2823

Update the law on jay walking

1. I made a post in my Facebook page that I crossed the road at a pedestrian crossing against a red man, when the road is clear. There were no cars as far as my eyes can see. If I pressed the button for the green man, it might take up to 2 minutes for the green man to appear, based on my past experiences. I crossed the road without waiting for the green man, because it was quite safe to do so.

2. That post was seen by over 400,000 people. This is an unusually high number, and is almost ten times higher than my viral posts in the past.

3. Some people said that I was committing a crime. They obviously do not know the difference between a crime (which carries serious penalty and jail sentence) and an offense (which carries a warning or a fine). These people should check the meaning of their words before they pass a wrong or harmful comment.

4. What was my purpose in making the post? Many pedestrian crossings and traffic junctions around Singapore are quite unfriendly to pedestrians. They make the pedestrians waiting longer than necessary.

I hope that my post will result in a review of the current arrangement and result in some improvements:

a) For a pedestrian crossing, it is reasonable for the green man to appear within 15 or 30 seconds. Two minutes is too long. From my observation, it is possible to reduce the waiting time without disrupting the flow of traffic for vehicles.

b) At traffic junctions, I wish to see a shorter waiting time for pedestrians to cross the road. In the past, vehicles turning left give way to pedestrians. In recent years, the vehicles have the right of way, forcing pedestrians to wait longer for a short period to cross the road.

c) It was also unfair to force pedestrians to walk a long distance to cross the road. I prefer the crossings to be placed closer to the bus stops and for a shorter distance between crossings on two sides of a major road. Pedestrians now have to walk a somewhat long distance, which appears unnecessary.

5. I now take public transport often and I also take long walks often. I understand the need for road safety and support measures that enhance safety, but these measures should not cause unnecessary inconvenience to pedestrians.

I do not like long waiting time or long walking distance that appear to be unnecessary. I am aware of the need to see this matter from the perspective of the pedestrians and vehicle drivers. I exercise my common sense to see what is reasonable and what is not.

6. Some people said that I am encouraging pedestrians, and especially young children, to disobey traffic regulations and road safety. These people should not carry their argument too fair and out of context.

I think that it is safe to cross the road when the road is clear of traffic. They should still be cross the road with care. If they are not sure, they should wait for the green man.

7. More importantly, I like to see the waiting time at pedestrian crossing reduced to 15 second or 30 second at the most.

I have experienced a pedestrian crossing where the waiting time is 15 second. It is located at Bishan North Shopping Center. Although the road is generally busy, the shorter waiting time did not appear to disrupt the traffic flow for the vehicles.

This pedestrian crossing is an exception. I might be wrong, but I suspect that this shorter waiting time was made when the member of parliament for the constituency held a senior position in the ministry of transport.

I do not complain about the privilege enjoyed by the residents of that constituency. I only wish for the positive experience to be extended to pedestrian crossings in other parts of Singapore.

8. Several people said that they also crossed the road when it is clear and safe and do not wait for the green man. They also said that it was a sensible thing to do, although it is technically an offense.

9. I have not yet received a fine for crossing the road against a red man at the pedestrian crossing. I think the police does not have evidence to charge me, although they might use my post as evidence to charge me.

I hope that they are more sensible and receive my post as a feedback and update the law against jay walking to be more sensible and friendly to pedestrians.

Tan Kin Lian

https://tklcloud.com/Feedback/feedback2.aspx?id=5637

CDC Voucher

 Wisdom of the Crowd: 95% of the respondents do not like the CDC voucher. They prefer the government to keep the cost of living low or to credit the money into their bank account.

https://tklcloud.com/Crowd2/chart3.aspx?id=2822

Wisdom of the Crowd - New Issues

1. Was it proper for America to shoot down the high altitude balloon?

2. Was it proper for Anwar Ibrahim to appoint his daughter as financial adviser?

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

 

Wandering high altitude balloon

1. I asked ChatGPT about two options to gather intelligence data. It replied.

The better option for intelligence gathering depends on the specific requirements of the mission.

Satellites have the advantage of being able to cover large areas from high altitudes and can gather a vast amount of data in a short time. They are also able to capture high-resolution images and other data using specialized sensors.

High-altitude balloons, on the other hand, can be less expensive to deploy and can be more flexible in terms of where they can fly and what data they can gather. They can also fly at high altitudes for extended periods of time, making them useful for missions that require long-term monitoring.

In summary, each platform has its strengths and weaknesses and the choice of which is better depends on the specific requirements of the mission and the data that needs to be collected.

2. I searched Google to find out how long was the high altitude balloon hovering over the sensitive military base in Montana to gather sensitive data over an extended period of time for long term monitoring. 

I found this report. 
https://nypost.com/2023/02/03/what-is-the-suspected-chinese-spy-balloon-flying-over-montana/ (American source).

It appeared to be flying all over the place and not hovering over the sensitive Montana military base. 

China claimed that the balloon went out of control. This appears credible to me. If it is under control, it would be sensible for China to fly the balloon outside of US airspace, after it is detected. (But some people think that the people in China are irrational and cannot be trusted). 

I am not an expert. But my common sense suggest that if the balloon wander about all over the place, like this balloon did, the sensitive data that is gathered is probably not better than the data that can be gathered by a powerful satellite or from the China space station. 

America has the right to shoot down the balloon over its territory. But it was probably not necessary and not a friendly act to do.

Tan Kin Lian

https://tklcloud.com/Feedback/feedback2.aspx?id=5636

Wisdom of the Crowd - New Issues

1. Did China sent a spy balloon over America?
2. What are your views about the future of Malaysia.
3. Should the flow of traffic at the land crossing with Johor be improved?

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

WOTC - Singapore has slackened

 Wisdom of the Crowd: 85% of respondents said that Singapore slackened during the past decade.

https://tklcloud.com/Crowd2/chart3.aspx?id=2821

WOTC - Floss teeth

 Wisdom of the Crowd: 58% of respondents floss their teeth daily.

https://tklcloud.com/Crowd2/chart3.aspx?id=2820

Tesla stock

I have a large investment in Tesla stock, amounting to $740,000. 
Here is my analysis of this stock.
https://fisca.sg/ArticleDisplay.aspx?ID=1309

WOTC - Vote for individual candidates

 Wisdom of the Crowd: 74% of respondents said that it is better to vote for individual candidates in a general election, based on their personal qualities.

https://tklcloud.com/Crowd2/chart3.aspx?id=2819

ComfortDelgro (C52.SI)

 Here is my analysis of Comfort Delgro (C52.SI)

https://fisca.sg/ArticleDisplay.aspx?ID=1307

WOTC - Proportional voting system

 Wisdom of the Crowd: 67% of the respondents prefer that Singapore change to a proportional voting system, so that each political party gets seats in proportion to their share of the total votes.

https://tklcloud.com/Crowd2/chart3.aspx?id=2818

WOTC - High salaries for political leaders

 Wisdom of the Crowd: 81% of the respondents said that high salaries attract the wrong people to become leaders of a country.

https://tklcloud.com/Crowd2/chart3.aspx?id=2817

Undervalued China stocks

 I have invested $350,000 SGD in 4 China stocks that are grossly undervalued.

I see a loss on this stocks at present. However, I am holding on to these stocks as I expect that they will move closer to their true value, and that would give me a profit.

https://fisca.sg/ArticleDisplay.aspx?ID=1306

Adani group

 Here are some financial information about the Adani group.

https://fisca.sg/ArticleDisplay.aspx?ID=1303

WOTC - Keppel case

 Wisdom of the Crowd: 80 % of respondents said that the US govt was extorting money from Keppel for breaking US laws against bribery.

https://tklcloud.com/Crowd2/chart3.aspx?id=2815

WOTC - Brazilian contracts

 Wisdom of the Crowd: 67 % of respondents said that Keppel paid a fee to a local agent to take care of the regulations and approvals. This approach was necessary in some countries. 33% said that Keppel was bribing the Brazilian officials.

https://tklcloud.com/Crowd2/chart3.aspx?id=2814

Invest in fixed deposit and bonds

 1. Prior to 2022, interest rate on fixed deposit and government bonds was quite low. In Singapore, 1 year FD give less than 1% interest. 10 year government bonds give a yield of 2%.

2. Interest rate has moved up in recent months. UOB bank now gives 3.4% on 12 month fixed deposit and 10 year government bonds gives a yield of 2.9%.

3. For investors who prefer to avoid risk, the interest on fixed deposits and the yield on 5 year or 10 year government bonds are now quite attractive. (There were not attractive when interest rate and yields were low prior to 2022).

4. I personally prefer to invest in quality stocks that provide an attractive dividend yield. These are stocks of big companies that have a price earning ratio below 7 times and a dividend yield above 7%. I can find some of these stocks from the Hong Kong market. They are China stocks listed in Hong Kong.

Tan Kin Lian
https://fisca.sg/ArticleDisplay.aspx?ID=1302

Proportional representation system

 I suggest that Singapore adopts the proportional representative system to replace the current "first past the post" system.

https://tklcloud.com/Feedback/feedback2.aspx?id=5628

WOTC - Rivalry between America and China

 Wisdom of the Crowd: 85% of the respondents said that Singapore should not take any side on the rivalry between America and China. 15% said that Singapore should side China. None said that Singapore should side America.

https://tklcloud.com/Crowd2/chart3.aspx?id=2813

WOTC - Report on the rivalry between America and China

 Wisdom of the Crowd: 82 % of respondents said that the state media should report the rivalry between America and China truthfully and without bias and let the public decide for themselves. 18% said that the media should report the event in a manner that protects the image of Singapore.

https://tklcloud.com/Crowd2/chart3.aspx?id=2812

Review of ICBC bank (1398.HK)

 This is my review of ICBC bank (1398.HK)

https://fisca.sg/ArticleDisplay.aspx?ID=1299

Do we need a state funded media?

 1. Should the government spend $72 million a year to fund two medias, i.e. Channel News Asia and SPH? Do we need two medias?

2. Some people say that the state can save this money, as these medias are not doing useful work and the people can search for news on their own through the internet.

3. I hold the view that this money should be spent, and that it is useful to have two separate medias to cover two separate perspectives. However, they should avoid covering the same subjects, e.g. CNA should cover external issues and SPH should cover domestic issues.

4. The perspectives presented by the media should be factual and objective and promote the interest of Singapore. (This is different from promoting the interest of the ruling party).

5. There are many events happening around the world that have an impact on Singapore. The state funded media should cover the event so that the people in Singapore are aware about these events.

6. The government should also use the state funded media to explain to the people in Singapore on policies that they have taken that will affect their daily lives. The state media should also be used as a channel to provide feedback to the government.

7. There will be occasions that some events that happened in Singapore cause people in other countries to be upset. The foreign affairs ministry should, through the state funded media, provide an answer to the affected people in the foreign countries. The aim is to promote mutual understanding and cooperation.

8. In carrying out its role, the state funded media should adopt the following approach:

a) By factual and objective

b) Be positive and constructive

c) Be honest

9. The journalists have to rely on external sources, such as international news agencies. They should pay special attention to discern the objective facts from the subjective opinions (which may be smears and slanders). They should get the facts from several sources to give a more objective view.

10. Some people hold a negative view that the state funded media cannot be trusted as it is funded by the government in power, and that they will promote the interest of the ruling party. The state funded media should be aware of this mistrust and act constructively and honestly to regain the trust of these people.

11. For the majority of the people that trust the government, the state funded media provide a useful source of what is factual and reliable. This will guide them from being misled by unreliable sources of information.

Tan Kin Lian

https://tklcloud.com/Feedback/feedback2.aspx?id=5625

WOTC - Inquiry into SMT subscription statistics

 Wisdom of the Crowd: 93 % of respondents said that the President should call for a Commission of Inquiry into the SMT subscription statistics as the taxpayers are paying a lot of money to support Singapore Media Trust

https://tklcloud.com/Crowd2/chart3.aspx?id=2811

Insufficient data

 I heard this joke spoken at an international insurance conference 40 years ago.

China had just opened up. A train was travelling in Inner Mongolia.

Three foreigners, who were visiting in China for the first time, looked out of the window and saw a lone sheep, black in color, in the distance.

A foreigner, who is a journalist, said "All sheep in Mongolia are black".

The second foreigner, who is an engineer, said "Sorry. There is one sheep in Mongolia that is black".

The third foreigner, who is an actuary, said, "To be exact, there is at least one sheep in Mongolia that is black, at least on one side".

I share this story to advise people not to make conclusions based on insufficient data.

Harmful effect of vaccine

1. Several people in chat groups shared reports and videos of young people who died suddenly a short time after they have been vaccinated. They used the event to imply that they vaccine is harmful to young people.

2. I have seen several dozens of these reports. I am sure that there are many more of these cases that I have not seen. Perhaps, the number of these cases amount to a few thousands.

3. Let us assume that there are 10,000 such cases. If 1 billion young people have been vaccinated, this represents 0.001 % of the cases. It is 1000th of 1%. It is small enough to be insignificant.

4. Even if there are no vaccination, perhaps a similar number would have died from "natural causes". They were not reported previously, because there was no major event that can be used to blame these unexpected deaths.

5. I do not rule out the small possibility that the vaccination could be the cause. But the incidence is too low for me to accept that it is the likely cause.

6. I do not trust our health authority totally, as they may be biased in favor of the vaccine. However, I trust them more than the "experts" who present an alternative theory against the vaccine.

Tan Kin Lian

 
https://tklcloud.com/Feedback/feedback2.aspx?id=5624

Wisdom of the Crowd - New Issues

1. Do we need a state funded media?
2. Which system of democracy do you prefer?

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

WOTC - Settlement of insurance claims

 Wisdom of the Crowd: 89% of respondents said that customers are not satisfied with the settlement of insurance claims due to disputes over coverage, exclusions and other clauses in small print.

https://tklcloud.com/Crowd2/chart3.aspx?id=2809

WOTC - Visitors fromChina

 Wisdom of the Crowd: 55% of respondents said that it is not necessary to screen visitors from China because the covid virus is mild.

https://tklcloud.com/Crowd2/chart3.aspx?id=2810

Quality of customer service depends on the process

1. I experienced many instances of poor customer service from Singapore companies.

2. Quite often, the poor service is caused by their bad process. They follow SOP (standard operating procedures) that are more focused on complying with process rather than on improving outcome for customers.

3. I have just experienced an excellent customer service from Plus500 (online trading platform).

4. I wanted to ask a question. In their app, they have a menu called Help. They provide an option to use WhatsApp.

5. I sent my question at night. I received a reply immediately. As the issue was quite complicated, I asked a few follow-up questions. I received prompt, clear and complete replies to each question.

6. A complicated matter was resolved to my satisfaction within half an hour. This is the time that I took trying to reach a Singapore company on a customer issue and had to give up after failing to talk to a person.

7. Plus500 has an office in Singapore. However, they do not follow the standard Singapore SOP. They followed a process that is customer friendly. I understand that this company started in Israel but has now gone international.

8. I like the following features of their customer service:

a) They make it easy for me to send a feedback.

b) They use WhatsApp, which is probably the most convenient form of communication.

c) I can send my query immediately and directly. I do not have to answer 5 to 10 pieces of data to start an inquiry.

d) They have a person to attend to my inquiry immediately.

9. I sent a detailed feedback to the staff. She replied immediately that she would forward it to the attention of the management team. I expect that they would act on my feedback.

10. I believe that the quality of service depends on how the process is handled. If Singapore companies can adopt a good process, like what Plus500 did, the quality of service would improve tremendously.

Tan Kin Lian

https://tklcloud.com/Feedback/feedback2.aspx?id=5623

Wisdom of the Crowd - New Issues

1. How often do you floss your teeth
2. Is Singapore making good progress over the past decade?
3. Do you like the CDC vouchers?

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

WOTC - Insurance products

 Wisdom of the Crowd: 85% of the respondents said that MAS should not allow insurers to offer their products freely as it would create confusion for the public and lead to disputes over coverage and claims.

https://tklcloud.com/Crowd2/chart3.aspx?id=2808

Bad customer service from Starhub

 1. My internet connection failed due to the storm.

2. I called Starhub hotline. It was a nightmare for me. I spent 9 mins on the first call, and it was cut off. I called again and there was no answer for 15 mins. I cut off the call.

3. It took me over 3 mins to clear through the nonsensical questions that do not apply to me before reaching the technical desk. After that, the call was not answered due to "large volume of calls".

4. Along the way, I was asked to state if I use a Linksys router. I checked the devices and found that I had a D-Link device and a Nucleus Connect device. I do not know if any of them are provided by Linksys.

5. I find it terrible that Starhub should ask this kind of question. I subscribe to the service of Starhub and it should not concern me about who they use to provide the router.

6. Starhub operates many business, such as mobile phone, internet, Netflix, Samsung phone, etc. They could have given a separate number for each business. Instead, they put all the business calls under one number and force the customer to waste over 3 minutes to clear through the screening.

7. Starhub customer service has been terrible for over a decade.

8. On many occasions, I wanted to move away from Starhub, but I was tied to a 2 year contract.

9. My experience with the customer service provided by many large businesses in Singapore has been poor. I find that bad customer service is probably a part of "Singapore culture".

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5619

WOTC - State funded media

 Wisdom of the Crowd: 81% of the respondents said that the state funded media should report independently, honestly and fairly (and not reflect Singapore's interest in the reporting).

https://tklcloud.com/Crowd2/chart3.aspx?id=2807

A new approach for SPH Media Trust

1. The government is setting aside $180 million a year over 5 years to fund SPH Media Trust. The aim is to provide Singaporeans with news from our perspective.

2. It is important that the perspective should be based on the interest of Singapore. It should not be slanted to promote the interest of the ruling party.

3. Our local news media rely on news feed from international agencies, such as Reuters, Associated Press, etc. We should not over-rely on the news feed from the western nations. We also take news feed from other Asian sources, such as Global News, CGTN, SCMP, Nikkei, Jakarta Post, New Straits Times. The aim is to have a balance of our news sources.

4. In reproducing the news feed, the journalist and editor of SPH should carry out this important task:

a) Remove bias or distortion from the original news feed

b) Add perspective from an alternative source to give it a balance.

c) Ensure that the final article, as rewritten, carries a perspective that supports Singapore's interest.

5. With the use of the internet, it is quite easy to access news from many sources, and to present them in a balanced way to reflect a constructive and positive perspective.

6. SPH should also make use of ex journalists from Singapore. They worked in our Singapore media in the past and have accumulated considerable experience in writing and critical analysis. They form a useful resource.

7. SPH should also make it easy for readers to give their opinion. These views can be edited for accuracy, clarity and usefulness. This can be easily managed on the online platform.

8.The above suggestion also apply to another state funded media, namely Channel NewsAsia.

Tan Kin Lian

https://tklcloud.com/Feedback/feedback2.aspx?id=5617

Discrepancy in circulation figures of SPH

 1. There was a lot of discussion in social media over the inflation of circulation figures by SPH. Many people clamored for transparency. They accused SPH of dishonesty in inflating the figures and were indignant that this episode would damage the reputation and integrity of Singapore.

2. I did not join in the accusation. I usually do not give a negative opinion when the facts are not clear. I am also not enthusiastic about defending Singapore's reputation and integrity, as I have some doubts over this matter.

3. A recent news report provided the following information.

- There was an overstatement of 49,000 average daily copies of news titles that was recorded as circulation numbers but not distributed. Most were digital copies. It amounts to 5 per cent of total daily circulation.

- There was an inflation of 5,000 average daily copies recorded after contracts had lapsed

- There was a difference of 17,000 between the reported circulation and the actual usage recorded by SPH Media's system

- There is a possible discrepancy of 19,000, which included a barter arrangement with another publisher

4. This is my perspective of the above figures.

a) 49,000 (mostly digital copies) were not distributed. Is there a need to "distribute" a digital copy? Could the subscriber access it by login to the website?

b) 5,000 copies were counted after the contracts have lapsed. Maybe they were kept alive for a few days or weeks in case the subscriber acts to renew and pay for it?

c) It is not clear whether the discrepancy of 17,000 is included in the 19,000.

5. If I were to include all the above figures, the total discrepancy amounts to slightly less than 10 percent of the reported circulation (which I estimate to be 1 million). It appears to me that the figures are not grossly inflated.

6. Let me explain what I understand about "circulation" in this environment.

a) The circulation includes print and digital copies over several newspaper titles

b) The circulation may includes paid subscriptions and free subscriptions.

c) The circulation includes copies sent to new agents who sell them at the news stands. Some may be subject to returns.

d) The subscriptions may be activated and payment has not been received, or may have lapsed and are kept for some time pending action to renew them.

The counting of the "circulation" is a matter to be decided by management policy, following industry practice.

7. There was a suggestion that the advertisers might have been misled to pay a higher advertising fee based on the inflated circulation. I do not think that this is a concern as the discrepancy is less than 10% and would probably be accepted as "industry practice".

8. It is generally unwise for a new management to challenge the decisions taken by a previous management over matters that rely on management judgment.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5616

Losses suffered by Hyflux

 Some people said that Hyflux collapsed due to bad decisions taken by its management from the following:

a) Losses on overseas projects
b) Tendering a low price for the supply of water under the Tuaspring plant.

From my research, these above factors contributed to only a smaller portion of the loss by Hyflux. The main loss was due to their generation of electricity when the electricity price collapsed due to oversupply.

https://tklcloud.com/Feedback/feedback2.aspx?id=5615

WOTC - Self driving platforms

 Wisdom of the Crowd: 41% of the respondents voted for Apollo (by Baidu) to be the self driving platform that will be the champion. 33% voted for FSD (by Tesla) and 18% for Waymo (by Google).

https://tklcloud.com/Crowd2/chart3.aspx?id=2805

Review of Baidu (9988.HK)

 I made a review of Baidu (9988.HK).

https://fisca.sg/ArticleDisplay.aspx?ID=1298

Review of Top Glove (BVA.SI)

 Here is my review of Top Glove (BVA.SI).

https://fisca.sg/ArticleDisplay.aspx?ID=1297

Inflation and energy prices in 2022

 1. Europe and America experienced high inflation during 2022. Inflation in China was comparatively low. The data from statistica.com showed the inflation rate to be 11.1% in EU27, 8.3% in USA and 2% in China.

2. A large component of the inflation is caused by high energy prices. Why was China able to keep inflation low, when it had to import a large proportion of its energy needs? Europe had to import most of its energy, but had a high inflation rate. Even the US, which was a major producer of energy, had high inflation.

3. The reason for the difference is probably due to the working of the energy market.

4. China signed long term contracts with oil producers in the Middle East countries to supply oil and gas at fixed prices. These contracts provide price stability for the producers and for China. My guess is that these oil companies that buy the energy on these contracts are given long term contracts to produce energy to the energy market in China at fixed prices.

5. I read that the pricing mechanism in Europe is different. The electricity and gas prices are based on the current market prices for energy. When the oil and gas prices increased sharply, the electricity and gas prices charged to consumers and industry increased accordingly. As the oil companies probably had long term contracts for their purchases, they enjoyed bumper profits.

6. My guess is that the energy prices in America follow the same pattern as in Europe.

7. The approach adopted in China is better. It ensured that the electricity and gas prices are kept relatively stable, based on the long term contracts. The oil companies produce the energy and supply them to the energy market at the contracted prices. The energy is then distributed to the households and industries at a small markup on the wholesale prices.

8. The energy market in Singapore probably follow the practice in America and Europe. The price of electricity and gas is probably quite volatile in Singapore. 

9. The above observation is based on my research, understanding and speculation of the workings of the energy market. I am not an energy expert and may have interpreted the research wrongly.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5614

WOTC - Surveillance to combat terrorism

 Wisdom of the Crowd: 76% of the respondents said that India should introduce surveillance to combat terrorism in Kashmir.

https://tklcloud.com/Crowd2/chart3.aspx?id=2804

Wisdom of the Crowd - New Issues

1. Should the Singapore system of voting be changed to the proportional votes system
2. Should the voter vote for a political party or the individual candidates

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

Election system in Switzerland

 

1. I recently learned that election into the national parliament and local (i.e. canton and municipal) councils in Switzerland are based on proportional votes received by participating political bodies.

2. Each political party which receives votes above a threshold gets a number of seats based on the proportion of votes received by the party. The party decides on the candidates in the party that takes the seats.

3. This system has the following advantages:

a) The number of seats received by each political party is proportional to the votes that the party receives. This is different from the "first past the post" system adopted in US, UK, Singapore and many other countries that follow the US or UK systems. For example, if a party receives 30% of the popular votes, the party will get 30% of the seats under the Swiss system. The political party will get less than 30% of the seats under the "first past the post" system. In some cases, they may not win any seats at all.

b) The political party will distribute the seats to its "candidates", based on seniority and experience of these candidates. It is likely that the most capable candidates will be selected. It will reduce the risk that a capable leader may lose an election based on "first past the post" system.

c) The cost of the election campaign spent by the political parties is likely to be much lower under the Swiss system, compared to the system in US and UK. The political party can focus on its election manifesto, rather than on the personal qualities of the individual candidates (which usually lead to large sums being spent to smear the candidates of the other parties).

4. There are some disadvantages under the Swiss system:

a) A corrupt or incompetent candidate cannot be thrown out directly by the voters.

b) The voters cannot vote directly for outstanding leaders.

5. On balance, the advantages of the Swiss system outweighs the disadvantages.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5613

WOTC - Universal suffrage

 Wisdom of the Crowd: 86% of respondents said that universal suffrage (one man one vote) does not produce good leaders as the system is hijacked by rich people who have the money to influence the election.

https://tklcloud.com/Crowd2/chart3.aspx?id=2803

Review of global banks

Warren Buffet recently said that banks are a good investment for 2023.

I made a study of the financials for global banks. My findings are:

a) The average PE ratio is 10.6 times and dividend yield is 3.6%.
b) Most US banks have a PE ratio of around 10.0 times. The Asia banks (HSBC, DBS, MUFG) have a higher PE ratio. ICBC (China) has a low PE ratio

The risk to global banks is the possible loss from the drop in the property markets. The banks lent a lot of money on mortgages. This could cut into their earnings.

The property markets in several countries are under stress. The mortgages are being squeezed by higher interest rates. The defaults are expected to rise.

I will avoid the banks, except for ICBC which has a very low PE ratio and a high dividend yield.

Note - This is a personal observation. It is not investment advice.

Tan Kin Lian
https://fisca.sg/ArticleDisplay.aspx?ID=1296

Payment in RMB to sellers in China

 1. I have suggested that the China govt get their e-commerce websites in China (e.g. Alibaba) to quote their products and receive payment in RMB.

2. The buyer can use Wise platform to pay CNY to an AliPay account of the seller. See https://www.youtube.com/watch?v=Bvk4AwpiNw8

3. My DBS Bank allows me to send CNY from my bank account to an Alipay account also.

4. The seller can quote an AliPay account for the buyer to make payment.

5. I believe that the bank fee should be quite low, compared to payment by SWIFT.

6. Two years ago, I bought some product in Alibaba and had to pay by USD. I incurred a high bank charge, maybe US$20 for a small payment.

7. If all the sellers from China quote their prices in RMB, the buyers will have to pay by RMB instead of USD. This will encourage the buyers to keep their balance in RMB (either in CNY or CNH). The RMB can become an alternative reserve currency quite quickly.

8. The USD will lose a large volume of the international payments that they enjoy now.

Tan Kin Lian
https://tklcloud.com/Feedback/feedback2.aspx?id=5612

Review of China Petroleum (0386.HK)

 I own 170,000 shares of China Petroleum (0386.HK) at an average cost of $3,90 HKD. The current price is $4.02 giving me a small gain.

The PE ratio is 6.28 and the dividend yield is 13.84%.

The forward PE ratio is 4.82. This suggest that the earnings will increase by 56% for the current financial year.

I have read several articles that suggest that oil companies in China will be making a large profit in 2022 as they were able to buy oil from Russia at discounted prices and sell them overseas at a large profit. This should be reflected in the earnings of the oil companies in China, which have a large stake owned by the state.

Considering the attractive financials, I bought another 70,000 shares at $4.02.

Note - This is a personal opinion. I am not giving investment advice.

Tan Kin Lian
https://fisca.sg/ArticleDisplay.aspx?ID=1295

Wisdom of the Crowd - New Issues

1. Does the Singapore system produce capable and honest leaders?
2. Does high salaries attract honest and capable leaders?

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

WOTC - Capable and honest system

 Wisdom of the Crowd: 79% of the respondents said that the China system produces capable and honest leaders. This is followed by the UK system (7%) and the US system (4%).

https://tklcloud.com/Crowd2/chart3.aspx?id=2802

WOTC - Workers from low cost countries

 Wisdom of the Crowd: 74% of respondents said that it is a bad policy to bring in workers from low cost countries as it depressed wages for local jobs and is bad for local workers.

https://tklcloud.com/Crowd2/chart3.aspx?id=2801

Payment in CNH

 I suggest that the China authority ask the e-commerce platforms to quote their prices in CNH (the international RMB) and operate a payment platform to handle the payments.

http://tklcloud.com/Feedback/feedback2.aspx?id=5609

WOTC - Globalization

 Wisdom of the Crowd: 66% of respondents said that globalization is good for business but is generally bad for workers.

https://tklcloud.com/Crowd2/chart3.aspx?id=2800