It happened! Two infants bitten to death.

Rottweilers attacked and killed two infants. One was snatched from the arms of a 7 year old child. Luckily the victims were the owners children. Luckily it did not happen here but in UK and Australia. I could not feel anything when people chose to live dangerously and paid for it themselves. But let it not happen to any innocent passerbys or neighbours. Our society has no place for killer dogs unless they are kept indoors or in cages. There is no need to risk innocent lives and inflicted pains to others just for the amusement of a few.

The years ahead

The front page of Mypaper, the Chinese version, splashed a headling about the exciting future. It talked about the Singapore Flyer, F1, Orchard Central and even KPE as the great things that Singaporeans can look forward to. I wonder how many Singaporeans could afford these great stuff. Oh, it forgot about the IRs coming on stream. What I think Singaporeans can look forward to is high salaries. Starting from the cleaners in the hawker stalls, they can easily look at $3000 pm in 2015. And the taxi drivers can look at $10000 pm. Officer workers, the clerical staff and assistance should be happy with $5000. Managerial grade should be about $50000 pm. Don't worry about the ministers and top civil servants, $1m a month should not be a problem. Cost of living would be up a little. A plate of chicken rice may be $15. A taxi ride may be $100. MRT or buses may start at $5 minimum. Just a few years back the worry was driving up business costs. Salaries and rentals were kept down, including all kinds of commissions and fees. That looked like a wrong concept. Now we should be aiming for the sky. All costs can go up. No problem. We are the best and we need to be paid the best, including our cleaners and sweepers and taxi drivers. It is an exciting future to look forward to.

A simple new year wish

How I wish that the transport policies will encourage social and extended family activities among Singaporeans and residents. We need policies that will promote Singaporeans socialising, visiting parents, relatives and friends without having to pay to do these leisure and human things. The policies of parking at home, in HDB estates and private estates must be reviewed. Stop drawing more white lines, yellow lines and all kinds of lines to make people pay more while making social visits. The current policies is saying, hide in your own little space and don't move. You move you pay. You better not go and see your parents or friends. Visiting is discourage. But if we don't charge for parking all the carparks will be overparked. No one will want to leave. True. Why do we need to cram so many people in this little piece of rock?

An illusion or a deception

The biggest worry of the lesser well off Singaporeans is the rapidly rising cost of living. Whatever income that they have will quickly be eroded away. It makes a mockery of thrift and savings. All the savings are not savings in real terms. It is like putting aside good money, good present day value, to become banana money in the future. Singaporeans savings in the CPF have been held back for what, another 1% interest rate! Why would people want to look forward to another 1% when inflation is going to eat away more than double that amount? Does it make sense to earn a 4% interest over 20 or 30 years when in the same period the depreciation of the value of money could mean that they may become practically worthless? And better still, the additional 1% or 4% is not even guaranteed. Oh, there is hope that it could be more than 4%. If that be the case, you can be assured that inflation will double that. A sure lose option. Why are we believing in illusion? Or why are we made to compulsorily believe in an elusive dream of a better tomorrow?

Instant population! What does it mean?

We will be adding another 15,000 new citizens to our population by the time 2007 is over. And there is also another 40,000 or so PRs. This is on top of the average annual growth of about 30,000. With the 30,000 coming of age each year and the new residents, the demand for property is not going to slow down or decline. Singaporeans needing a flat or a roof, better get them fast. The demand is incessant. The locals, the real Singaporeans, may be not be able to afford the unstoppable price hike if their salaries do not experienced the 21% increment. But for the new citizens and residents, only those who are able will come. They will sustain the continuous hike in property prices by adding into the demand pressure. The price hike is not going to stop the flow. At every higher price, there will be new takers. Singaporeans, especially those that are struggling to make ends meet, just too bad. No amount of charity or handouts can keep pace with the whopping increases in property pices. If they can't, they can't, and would eventually have to squeeze as many as they can into their 2 or 3 room flats. The alternative is HDB rental flats if they can qualify. The message is shape up or lose out. There is no room for failures and laggards or irresponsibly producing as many poorly educated children as possible. They will be damned. They will be the new breed of struggling poor at the bottom of a society that is running ahead at full steam. They can never hope to catch up.

2007 - A great year of give and take

All the news in 2007 is simply great. It can best be described as a year of give and take. The govt and corporations are the generous givers and the people and employees are the happy takers. The employed see their salaries and income rising in leaps and bounds. The unemployed also benefitted from the giveaways by the govt. It is a happy story. And even as prices keep spiralling up, housing, cars, food, services and cost of living, no sweat, as long as money keeps coming in. Cost of living up, salary and income up, everything still affordable. What happens when the music stops? For the lucky few where the income will continue to flow in regardless of come what may, nothing will change. For those takers whose income or handouts will stop as a matter of time, then what? As the balloon gets pumped bigger and bigger, more air needs to go in to keep it afloat. Without air, it will deflate. But it will also burst with too much air. We have seen 1997. It was the same old story. Everyone was hilarious and delirious. Maybe 2007 and beyond will be a new miracle. The bubble will not burst. Income and salary increases will be the natural order of the day. Singaporeans have tapped into a nature's oil well that will not go dry. What a wonderful year.

Celebrating Singaporeans - Dr Seet Ai Mee

I should have added Dr Seet Ai Mee in this celebration. She is the force that is the deciding factor for Dover Park Hospice to dissociate from the Medifund. If people want to be kind, compassionate and generous, it is very easy to do so. It is time to use the heart and not the head. To put people under more stress and to dehumanise people just to receive a few dollars of help is mean. We cannot treat the downtrodden this way. If one wants to help, just help, wants to give just give. It is very wicked to strip people naked to see if he still has a dollar stuck in between his butts. The money to charities and charitable homes are given out of human kindness. Given freely and to be received freely. Turn them into a machine, and we will become senseless machines.

Benazir Bhutto - Another martyr

What a sad day for humanity. Another daughter of human kind tasted the bullets and fell. What is happening to Pakistan? Why are men so trigger happy to take down another fellow human bean who is contesting to lead them? Are men that primitive and barbaric? Benazir paid for her belief with her life. She died a fighter. She knew that it could happen and she braved the danger. It was very costly and unnecessary. Brutes!!!

Electricity Up!

Next month electricity rate will go up by 6%. Add another 7% for GST, hmmmm, still less than 6.5% in total. Not bad. What would it cost to the hardlanders? Between $1 to $10 more per month. Definitely affordable. Oh, according SP Services, the hike is 'pegged to a higher forward fuel oil price of $96.64 per barrel,' which means that it is charging higher first in anticipation of a higher oil price. Makes good business sense and definitely will improve the bottom line.

Celebrating Singaporeans - Noreen Chan and Dover Park Hospice

Noreen Chan and Dover Park Hospice The Hospice has withdrawn from the Medifund scheme. The reason as explained by Noreen is that the philosophy of Medifund is in conflict with the Hospice. Its practice 'has always been to subsidise needy patients from its coffers before they reach such dire straits,' said Noreen. The practice of Medifund is 'typically (have) to produce documentation to show that they and their familymemebrs have little or no money left in the Medisave and bank accounts.' This is when Medifund will cough out some subsidies. In practice, none of the Hospice patients have reached such desperation to benefit from the Fund. What really is the problem is that you must be really in deep shit and dying before you get a little help. I salute Noreen Chan and the Dover Park Hospice for taking the wise and humane decision to back out from such draconian conditions. Where is the compassion for the desperados?

When will the corporate wayang ends?

Minority shareholders are taking to task to sack 3 independent directors from a public listed company for 'not doing their jobs.' They claimed that the two top executives of the company were getting unduly high pays while the company is losing money. It implies that the directors should have curbed the excessive payouts to the top executives. Now they are calling for an EGM to remove the independent directors. It is time that the wayang of having independent directors that are seen as not protecting the interest of minority shareholders be stopped. And honest and respectable individuals who cannot do the job for whatever reasons must honourably step down from such appointments or not to accept them. The practice of collecting fees and not doing the due diligence is becoming cancerous.

We have added Merrill Lynch

With UBS in the bag, we have bagged another biggie, Merrill Lynch. This round of financial crisis is much more than what Nick Leeson had done. We are seeing a spate of financial institutions crumbling down. And we helped to pick up the pieces. And so were other Sovereign Wealth Funds. These SWFs, once feared and hated, are now the white knights to the troubled banks and financial institutions. The world is changing. And so is the little Red Dot. We are in an enviable situation.

And Christmas is over

The last two days were great days of kindness and generosities. Gifts and offers of help were everywhere. Charitable homes have to turn down offers of help in some cases. Some even started to be selective and only want those who can render assistance on a longer term basis. Once a year kindness is appreciated but could not be of much help. Pope Benedict also commented on the selfishness of humankind and wished that they will be more unselfishness and share a little with the less fortunate. Like it or not, humankind will return to what they are. Time to work hard and earn a living, and be more selfish, now that Christmas is over.

My Christmas wish

As I was day dreaming. And this is Christmas, a time for giving and charity, then I started to imagine what I would do if I am given a $1m increment for the rest of my life! Would it be too much or too generous for me to donate my first $1m increment to the unfortunate? Afterall I still stand to gain that extra $1m for a life time. And especially so when I may be doing nothing useful or productive. I am only dreaming of becoming a generous man with other people's money. Still more generous than taking other people's money and not giving a little away.

Need further proof?

Below is a post' by a 'Leongszehian' in Sammyboy that proves that there is no need for compulsory annuity scheme. After 31 Mar 2008, 1st 20k of CPF OA and 1st 20k of SA can no longer be invested Everyone should think about investing their CPF OA (unless need to pay for housing loan now) and SA, because Age 25 To 65 - 40k will grow to (3.5%) $ 158,370 (5%) $ 281,600 (6%) $ 411,429 (7%) $ 652,456 (8%) $ 970,935 A 25 year old Singaporean earning just $1,450 a month, $500 monthly CPF contribution (34.5% is current CPF contribution rate), with 60k in OA/SA/MS accounts, assuming $500 contribution never increase (no pay increase) , from age 25 to 65 - at 5% grow to 900k+, 6% grow to $1.2 million+ - So, why average CPF balance at age 55 is only 66k (median estimated to be only about 20k plus) ? Why leave money in your CPF for others to invest? The computation is up to 65 years. 85 years is another 20 years of interest. What about the minimum sum retained? What about the amount in the Medisave? All these will add up to make every Singaporean a millionaire at 85.

New definition for Singaporeans?

Flexible labour policy has helped Sporeans This is the heading of a letter by Jean Tan, Director, Corporate Communications of the Ministry of Manpower. Her letter talked about how foreigners have helped Singaporeans to be employed. 'Singaporeans have also been taking up better jobs - nine out of 10 jobs gained by residents from 1997 to 2007 were those of Professionals, Managers, Executives and Technicians(PMETs). Singaporeans and residents are now synonymous.

Wah lau, $5000 to produce legal papers

It is reported that 'the lawyers usually gets at least $5000 for doing the insurance paperwork.' Imagine handling 10 car accident claims a day, that is a cool $50k! No wonder the touting lawyers are willing to offer between $600 to $1000 for each case referred. Anything wrong? Why shouldn't lawyers be allowed to solicit for business? Aren't they also known as solicitors? Is soliciting such a bad word? What is needed is to make the business transparent and upfront, just like the way we curb corruption. Make all the fees transparent and allow the lawyers to solicit as often as they need, with all the terms and conditions set up. The law society can defined all the regulations they need to protect the profession.

And today is Christmas

A handsome couple appear on the frontpage of the Straits Times, happily smiling and holding the Book of Baptism Rite. At first I thought the man was Goh Keng Swee. The resemblance was remarkable. And the story goes, about a grateful couple finding God and were full of joy on the day of their baptism. They were born again. It is Christmas and Christ was born on Christmas Day. George Soh and his wife Anne are now born on Christmas Day. It is a beautiful story to be told on Christmas. I feel like converting as well. Few days back the ST reported profusedly on the EID, the sacrifice of goat by Ibrahim to Allah, or Abraham to God. And the Muslims were equally joyous and Minister Yaacob even reported that the sacrifice will be doubled. Few weeks back the Lord Ganesha's Temple had a celebration and pictures of all the pious devotees were flashed across the pages of the ST. Soon the Chinese New Year Celebration and then Vesak Day. CNY is non religious but Vesak Day will be more meaningful to the Buddhists. It will be a day of compassion and no killings or taking of lives. We can expect pictures of devotees in Kong Meng San or Waterloo Streets carrying joss sticks for their worships. Our responsible and enlightened press has been reporting such religious activities fairly and sensitively and it is a sign of how well we managed interfaith relations in a multi religious society. Cheers to all the believers and devotees.

He took a bet

Goldman Sachs paid $100 million to its Chairman/CEO for turning in US$11.6b profits while competitors like Citigroup and Merrill Lynch suffered multi billion dollar losses. And he is duly rewarded. No doubt that he had done well. The enormous profit could be contributed by his decisions. But for the profit to be that huge is because the company was big. And he bet right. He could not make billions for the company if the company is small. What if he bet wrong and lost billions? At the most he will get a sack. But if the wrong was not too big, he still got to keep his job and pay. This is how the game of big corporation is being played. Bet big on other people's money. Win big and get big rewards. Lose big, just pack up and go. And often it could be a 50/50 chance of winning big. Is this kind of pay justifiable? It can be easily justified. It can also be easily flushed down the toilet hole.

Top talents - got or no got?

Bio-tech Suffers another blow Britain’s Dolly-creator is latest of three scientists to leave. Reuters. Dec16, 2007 By Daryl Loo British scientist Alan Colman, who helped clone Dolly the sheep, is leaving Singapore, dealing another blow to the city-state's biotech ambitions. Stem cell scientist Colman, who had been lured to the city-state with grants and research facilities, now heads a Singapore consortium in stem cell research.... The latest move follows news in September that two other top British scientists, David and Birgitte Lane, will also leave next year, giving weight to the World Bank's criticism that Singapore's biotech drive was overly reliant on "footloose" scientists who could leave at short notice.... Lee Wei Ling, a paediatrician who heads the National Neuroscience Institute, said that it was an inevitable that foreign researchers "will go where there's money available" as more Western universities raise funding for biomedical research.... The above is an extract of a Reuter article I copied from www.littlespeck.com. The tooth is the tooth. Foreign talents are 'footloose' and will go where the money is, especially the top talents. But what can we expect. Even our local talents who are good enough will go where the money is. Only those that cannot get a good offer will remain here and tell you they are worth millions. I am waiting for a top Singaporeans to head an American or European bank or MNCs. We can't even find any local good enough to head DBS after Jackson. The best Singapore can hope for is 'borrowed time.' Have them here for a while and learn as much as we can. We cannot have a FT like Jackson Tai here for so many years and still learn nothing and needs another FT to replace him. Or the tooth is that we don't have real talents locally?