How serious is the problem of fake degrees?

There are more than half a million PRs in the island plus many that have taken up citizenship. Assuming half of the PRs are FTs, ie professionals that are the equivalent of our PMETs, it means that there are easily 250k of them working here.

There have been complaints or rumours that are many FTs are here on fake degrees, unqualified or half qualified. There is no official statistics so far on the size of this problem and no one really knows how serious is this problem. What are the implications to the country if 10% of the FT qualifications are fakes? This does not take into account that many came from educational institutions where the quality/standard of education is sub par or even suspect.

The most obvious and painful problem is for such FTs to be employed at the expense of Sinkies, taking away Sinkies’ jobs. And many fakes could be the superiors of the Sinkies. And they are going to be paid more, to determine the fate of Sinkies and the performance of the organizations. Depending on the industries they are in, any mistake can be very serious and costly or deadly, eg in construction of buildings, housing and infrastructure, in medicine, in engineering, in food technology and science.

While this problem is festering and only passed around as rumours, not many seem to have surfaced and the cheats taken to task. Maybe it is all simply rumours and there is not much truth in it as the statistics said so. Maybe the numbers of offenders are not disclosed thus no one is panicking. Not seen, not heard, thus no problems.

How can such problems be tackled both at the organization and industry level and at the national level? Are there organizations that can check and verify the qualifications of FTs to minimize the problem, to give justice to Sinkies and the professions that hired them and the end products or services they rendered?

Temasek could end up as the biggest shareholder of Olam

Temasek owns 16.3% of Olam while Kewalram owns 20%. How is Temasek represented in the Olam Board and how much influence does it have with such a big share of the company relative to Kewalram? And Temasek could easily be the biggest shareholder of Olam after the bond issue. Kewalram, the mother company of Olam has said that it would take up its full entitlement of the bond/warrant issues. Temasek would take up its entitlement too, but also mop up everything that is not taken up by the market.

Kewalram would have to put up US$150m for the stake while Temasek’s stake is $120m. The whole issue is reportedly worth $1.25b. Theoretically it is possible for the balance, other than Kewalram’s stake, to fall onto Temasek’s lap or $1b worth of bond and warrants. That would be as good as Temasek owning anything more than Kewalram’s 20% stake. Shouldn’t this be a great opportunity for a cheap takeover of Olam and later sell it for a big profit? If it chooses to keep the company as a going concern, it can than appoint some Sinkies to manage the company as a private company. No need to privatise to be efficient and profitable.

The Sandy Hook School tragedy

The children died, shot many times by a young man with an assault rifle. The teachers also died, some bravely trying to save the children. The parents cried. The siblings and friends cried. The Americans in Newtown, Connecticut will never forget this dreadful day in their whole lives. Many dreams and happy relationships were savagely shattered in the most wicked way one can ever think of.

Could this tragedy be avoided? Could all the macho men who fought stubbornly to keep the rights to own firearms sleep well after Dec 14, 2012? The old wild, wild west of American history was a time of violence when law and order was difficult to maintain. Not that it is easier today, but when continuing with gun ownership the toll or tragedy could be that much more serious and widespread, is it time to rethink? Would Clint Eastwood still be the man that would shoot first and talk later still be role model of American manhood?

This is the sick ethos of the American society, that owning guns is a very respectable thing, the right to self defence, to face an aggressor squarely on the face and to an honourable face off. And shooting or going to war is an acceptable way to settle disputes.

In the wrong hands, the guns are very deadly and would show no mercy. Ask the Arabs in the Middle East, this sick American trigger happy behaviour had inflicted pains many times more than in Sandy Hook School, in bigger scale and with hundreds of thousands of unfortunate victims, young and old. And the children died, the innocents died, the olds died, and their families wept. Their cries of pain were never told in the American or western media. No one know or would understand, or would want to know or understand the pains the Americans are inflicting on the people of other countries, all because the Americans carry guns, big guns, very powerful guns, that the victims have no reply.

Would gun ownership be banned after this incident, or after many more similar ugly incidents that are going to happen, and many more children and teachers would have to die, and many parents and loved ones weeping their hearts out? Would the act of war, the belligerent policies of the Americans, be put to a stop for a world that is less violent, an American society that is safer for the children and the helpless at the mercy of crazy gunmen and crazy American politicians and soldiers?

Last week there was a lone man firing at kids. Tomorrow a crazy American Admiral could seize control of his fleet and fire at any country at his whims and fancy, drugged or insane, it is a hell that can break lose.

Laura Ong – The people are angry

In all my postings, one of my key principles is to avoid tarnishing anyone personally, and the least for indiscretion in their private lives. I avoided writing too much about the high profile X rated cases in the courts. I also schemed through briefly about the indiscretions of the two MPs except making some factual reports that were already in the media.

Many people have taken high moral grounds to dismiss these people in all manners and descriptions. Some had done it to score points, some with an agenda. Even the public had a great time humiliating, sneering and laughing at the people involved, as if they were all saints and angels. They were not merely giggling at the victims but enjoying every bit of it. You can see them and hear them everywhere.

I reluctantly dragged myself into this sordid affair as some called it, or more politely, improper conduct for one reason. The people are angry at the diatribes thrown at Laura Ong. It seems that it is all her fault, that she is the troublemaker, the bad one, and the other party is wholesome goodness and honourable.

How could people be so wrong and unjust to one party of an indiscretion between two consenting adults? How could one be dragged across the public square wearing a conical hat and another praised as good and respectable, full of integrity and full of sympathy and forgiveness?

I am not going to say too much about this. The commentaries in the media are more sordid than the affair itself, and the people berating them are worst. I am very proud of the bloggers in this blog who have not indulged in the same manner as the ruthless and unspeakable. Let the one who have not sinned be the first to cast the stone.

China’s stock markets are safe

While many countries have adopted the American model of financial system and stock market operations, China is still very conservative and guarded. It is very careful in how its stock markets and financial systems are operating and opening up gradually without exposing them to the high risks of American model markets.

Among the key features are no derivative tradings, no hedge funds, no computer or high frequency tradings. It even restricts the amount foreign funds are allowed to invest in Chinese stock markets. And it carefully chooses the type of foreign funds to invest in its markets, and preference is given to sovereign wealth funds and pension funds but NOT to hedge funds. Some may think that this will restrict its growth and the liquidity in its markets. But China is not the least worry and not in a hurry. It is not blindly greedy for foreign funds and willingly opening its legs widely to be screwed, or allowed the foreign funds a free hand to run circus and exploit/rob the innocent investors of their hard earned money. It must know that the foreign funds, particularly the hedge funds and computer/HFT operators are not there to do charity but to make money, plenty of money, to take advantage of the system, with no qualms or worries about ethics and moral goodness or the well being of the investors and the stock market.

The funds that are permitted to invest in Chinese markets are Qatar Investment Authority, Temasek Holdings, GIC, Norway’s Norges Bank and Abu Dhabi Investment Authority. Even then, the amount they could invest in China is restricted to about US$1b each. Qatar has a limit of US$5b. China is looking for long term investors and not speculators and gamblers and would not allow big funds to create havoc by controlling the market with their large war chests.

Some may be sneering that the Chinese markets are unsophisticated and will not grow at the speed of western modelled markets, but what is likely to happen is that the Chinese markets would still be around when the western modelled markets failed as a result of its casino nature, fraudulent systems and products. China must be very prudent and not to be conned by the big funds and their criminal practices like computer trading, HFT and derivatives to destroy its markets.

The days of western modelled markets are numbered and will fail disastrously.

Sluts and Slutwalk Singapore

When I called Singaporeans Sinkies, some got offended. I used this term for several reasons, sometimes negative, sometimes for convenience. It is a short two syllable word instead of the long and winding Singaporean. And often Sinkies should be called Sinkies just like some called them daft. Sinkies did not complain for being called daft but for being called Sinkies because Sinkies sound like sinking. Whatever, a rose is a rose by all names, and a piece of shit is shit no matter what you call it.

I came across this word Slutwalk in a new movement by a group of woman championing their rights to wear whatever they want, how sexily they want, and to party and drink like the men in the most fun loving places deep into the night. They are protesting that such dressing and behaviour are often branded as sluts by the male chauvinists, an invitation to be raped. So they are going to defy the chauvinists by doing what they want and showing their middle fingers to them.

Such brandishing of women’s rights is nothing different from women happily sharing dirty jokes with the men. Some did it happily even with strangers or people they knew only for a few days. To these women, it is all about being open, liberal and worldly, if not, being westernised or sophisticated. They think this is about having arrived and even mature and clever, to be able to engage the men in their saucy stories. Many men appreciate such openness in the women and always enjoy their great company.

Some ladies are more discreet and would only share with people in their close circles of friends. Letting go with strangers or people they hardly know is a no no. They are smart enough to know that the presumably merry men sharing the dirty jokes with them and flattering them could form very different opinions of them and may make unkind comments behind their backs.

I digress. The Slutwalk protagonists are very comfortable with the branding. I am not sure if they are comfortable and call themselves sluts. They must have welcomed all the spectators and guests to their events with words like welcome to the Slutwalk or Slut dinner or Slut party or something like that. But they are not sluts, definitely. It is just a choice of names they called themselves to gain attention.

So, should Sinkies be offended by the word Sinkie? If Sinkies can be just as proud as the woman for calling themselves Slutwalk or ‘Sluts’, then it should not be an issue. Be proud that you are a Sinkie and a Sinkie needs not be daft or sinking. Political parties may also adopt such eye catching and loud unforgettable names, like Prostitute Party or Pimp Party, as long as they are not prostitutes or pimps. It is very creative and going with the flow.

It is all in a name. Nothing much to it really.

Romance of the Three Kingdoms

The Western world is quite familiar with the Art of War as a book on military warfare. Thanks to the trainers who popularised this manual of warfare by applying the tactics and strategies in modern management practices. An equivalent and more powerful book, Romance of the Three Kingdoms, is less well known outside the Middle Kingdom but is stacked with many military strategies and tactics of psychological warfare.

In one of the stories, the famous strategist, Zhu Ge Liang, was pitted against the warlord Cao Cao. The game plan was about luring Cao Cao into a trap, allowing him to be victorious and became complacent. The finale was for Cao Cao to paint himself into a corner and defeating himself in a game of crafty deceit.

Zhu Ge Liang knew that Cao Cao had a weakness for women. Without disclosing this knowledge, he used it to plot Cao Cao’s embarrassing defeat by setting up one of his general, General Yao, with another woman in an improper affair. Of course this was leaked to Cao Cao who happily exposed the details of the relationship to the public.  Zhu Ge Liang’s Cukong Liu was greatly embarrassed and summarily dismissed General Yao who then left the state.

Tasting success, Cao Cao seized on the opportunity to embarrass Liu by ridiculing him, demanding that Liu tell the whole truth and be transparent, not to hide any material fact. Cao Cao’s ministers added fuel and fire, telling Liu’s people that Liu had let them down, and failed to carefully select his officers. They ran circus around Liu, accusing him of being inept in choosing his generals, lack of integrity and that Cao Cao’s camp was better in serving the people’s interest.

After a year, when things quiet down, when there was apparent peace under heaven, with Cao Cao smarting over his moral victory, Liu exposed Cao Cao’s affair to the world. What Cao Cao did was an exact replica of what Yao had done, the same affair with the wives of another officer in the same camp. Cao Cao was forced to face the same barrage of accusations and flaming and was helpless. Every word spoken by Cao Cao and his ministers were carefully recorded and read back to Cao Cao and his men. It was a taste of his own medicine. There were no buts, no running away from a similar and grave mistake. Cao Cao and his ministers who acted high and mighty, as the righteous ones, beyond reproach, had to swallow every word they said, heads bent low, some went into hiding. Cao Cao was defeated in his own game of moral superiority.

The Three Kingdom was a timeless classic, and the tactics and strategies have been thoroughly read and discussed and mastered by many modern military commanders and politicians. Some were able to use them so effectively in defeating their enemies through deceptions, schemes, plots and strategies that often caught the enemies totally unguarded and with their pants down. Zhu Ge Liang was a living legend of his time.

Art of RAR - A new series

Another series of rar art created by Mother Nature. Size up to 24in x 36in in oil or pigments.

SMRT driver bashing – The other untold story

Untold may not be the right word as the story was told many times over several months, but no one wants to hear them. This untold and embarrassing story is starting to reappear to shed light on the plight of the SMRT drivers. One was jailed, 29 repatriated and 5 charged in court. The story in the media so far was all about the trouble makers, the SMRT drivers. And they were duly punished with many Sinkies throwing more vitriol at them.

Desmond Kuek has conducted an internal investigation on how the strike came about and commented that it could be avoided if the management was more “sensitive, attentive and responsive” to the problems the workers had brought up. Disciplinary action would be taken against those who allowed the drivers’ grievance to escalate to become a work stoppage. The drivers would not have been charged, jailed, repatriated and lost their jobs. The strike would not have occurred to embarrass the govt and the trade union. Relations with the Chinese Govt would not have been affected.

Since his last comment that there were many problems in the organisation, a witch hunt could be next and many skeletons are likely to be dragged out of the cupboard. But most important of all, the truth shall prevail and the drivers would be seen in a different light, that they could be victims of mismanagement and neglect.

Shine the light and brighten up the dark patches and return justice to those that had been wronged. SMRT would no longer need to say we are sorry, it should not have happen, we will make sure it will not happen again. ‘We are sorry for the inconvenience caused’.

Punggol East - A scramble for the spoils?

I wrote about the congregation of the vultures awaiting the ageing lion to fall. Every vulture is hungry and wanting to have its share of the meal. Would there be a mad scramble for the carcass or would each take its turn for a bite of the morsel? If they do it in an orderly manner, each will have their fill and more could come their way. If they go on a mad rush, the dying lion could walk away to live another day.

Lina Chiam of SPP, Hazel Poa of NSP have spoken. They would not be engaged in the foray in Punggol East. They would wait their turn as it was a battle field of WP and SDA in the last election. This sets up a gentleman's agreement on the pecking order in the opposition camp for the rest to follow. Would the others abide by this protocol, or would they defy the existing order and behave like when fools rush in?

Some parties are taking an ambivalent position at the moment with reservation that they could jump into the fray. Some quarters are openly encouraging all the opposition parties, or some parties to move in, 3 corners or many corners fight is irrelevant. Their intent could be simply a genuine interest in wanting their perceived favoured party to have a go at this seat. For some, the intent is nothing to hide, to agitate the opposition parties to strangle themselves and deprive themselves from a good fight.

The memory of the last Presidential Election is still vivid in the minds of the electorate. Some are cursing at the missed opportunities for their chosen candidate. Some are cursing at the spoilers. Would there be spoilers in the making, for whatever queer or make belief justifications, that they must be in the ring to split the votes of the opposition?

In a straight fight like Hougang, the chances of victory against the ruling party has been proven to be very high. So, would Punggol East be another Hougang or another multi corner fight that makes the opposition parties look like a bunch of unthinking and selfish hyenas, and ended with nothing and losing their credibility, and be the cursed of the electorate?

Should there be a multi party contest, the electorate could still be the deciding factor. They could despatch the spoilers into shame and losing their deposits as well. The electorate are no longer easily conned and a spoiler will be seen as a spoiler and will not be getting much sympathy votes. They would be rudely dismissed and their intent exposed.

Punggol East is staged like the last fort, the last resistance. Should Punggol East fall this time, the writings will be on the wall. There will be no stopping of the tide and a tsunami may follow suit to clear up everything in the way.

Hougang was  a watershed. Punggol East could be the Waterloo. Would there be spoilers to throw shit in to muddy the water?

China and Japan gearing up to defend disputed islands

On the anniversary of the Nanking Massacre, China flew a civilian aircraft over the Diaoyu Islands snatched away by Japan after it was defeated in a war in 1894. This flight over Diaoyu is symbolic and a message to Japan that China is not going to let Japan to continue to think that it could seize Diaoyu Islands from China for good.

Japan reacted in the most aggressive manner by scrambling 8 F15s in a show of force to defend its claim on the islands. There was no engagement with the Chinese surveillance twin prob aircraft. China responded by making a statement that the aircraft was in Chinese airspace and had all the rights to be there. Japanese leaders were up in arms, revealing their cleverly concealed military past, each one raring to go to war. The nationalistic and militant voices in Japan are near hysteric.

China will only react in the same pitch and as robustly as the Japanese. China must have been preparing for this day to come, having tested Japanese intent that they would not return the islands without a fight. The stage is set for a military confrontation for the recapture of Diaoyu Islands. The national pride and interest of China, for losing a war and losing its territories will mean that China will go all the way to reclaim the islands. The next time China would also scramble their fighters to face the Japanese fighters.

Japan is equally adamant to keep the war loot. They think they are able to defeat the new China again and with the backing of the Americans. This is World War 3 and no laughing matter. The launching of the North Korean satellite is an affirmation that the North Koreans will present the Japanese and the Americans with a new factor to consider in case hostility breaks out. The dark horse is South Korea. Would it join the Japan/America alliance to take on China and North Korea, with the Russians in the background, or would it do a surprise by taking side with their northern brothers to avenge the years of colonization and humiliation and brutality under Japanese rule?

Whatever the position of the two Koreans, a war between China and Japan is inevitable unless the Japanese are willing to return Diaoyu Island to China. This is basic Chinese position, the reclamation of territories lost during the years of weaknesses and humiliation. They would take on the Japanese come what may.

PAP under siege

The opposition parties are hovering over Punggol East like vultures sensing the presence of a carcass for a good meal. It is not the case of a prize possession that belongs to the ruling party anymore. Thanks for the generosity of Michael Palmer, it is like a well timed Christmas present. But the ruling party is not going to give it away so easily. They know that the opposition parties are ready to snatch it away and it has to hold on to it tightly.

This is the state of the political game today. Gone were the days when the ruling party will strut around taking every loose seat available with great confidence. It was chionh all the way. The game has changed and it is a case of trying desperately to hang on to whatever it got. And the opposition parties are closing in for the kill every time a little gazelle breakaway from the herd. It is quite helpless. It will be taken away to fill the hunger of the hunters.

The ruling party is under siege and weakening in all fronts. There is no one in the party that could command the awe inspiring presence and leadership to win a single seat or even a GRC today. The last GE has exposed the weaknesses of the ruling party and the infallibility of every minister. Every one of them looks lame. And the last few batches of MPs were found to be wanting in many ways and many would not be able to hold on their own in a contest, without the GRC. Many were outright failures in the eyes of the people and many voters have regretted their decisions in the last GE. It is that bad.

The strength of the ruling part was in their pro people policies. These have done well for many years but strains are showing. Good policies are turning bad and unsustainable, like a big rock pushed up the mountain, the weight bearing gets heavier by the day and waiting to roll down, crushing everyone and everything below. Come to think of it, every policy is about to come tumbling down. Cannot think of any that is good or barely good today.

In the absence of good men and women, in the absence of good and pro people policies that are sustainable, what else is there for the ruling party to offer the people to keep them in power? This by election is only to confirm the hard truth that it is game over.

Maybe I am too pessimistic. Maybe the people are still strongly behind the ruling party. The joyous and buoyant celebration and the confidence shown in the last party conference told a different story. The party is on a roll. Everyone was looking so well and wealthy. The party will go on and on. The truth will be seen in the decision to hold or not to hold a by election. A party that is confident of winning will have no apprehension of taking the bull by the horns and will call a by election without hesitation. Any wishy washy excuses will be a sign of weakness, a party under siege, having little confidence in holding on to the seat in Punggol East. The siege mentality is all there for everyone to see.

A little decency from the workers

A fallen angel getting a little support from the workers. That was about the only silver lining in the latest episode of personal indiscretion. Instead of laughing their heads off, instead of grabbing the opportunity to twist the dagger deeper to extract more pain, to hear the scream, to make it hurt, it was just a polite admonishment. There was no need to go further than this to shower praises for being honourable and for being a good and clever boy. That would smell too much of hypocrisy.

The elite have something to learn from the workers, if nothing to learn about good manners, at least some decency of not kicking someone when he is down. It is a nasty but pleasant surprise that the once mighty elite, with halos on each and everyone’s head, once were standing on the high pedestal of moral righteousness and scream, on your knees, scoundrels, infidels and all. Bow your heads in shame for your disgraceful acts and conducts.

Where are the angels? Aren’t they going to put on their halos to pronounce in their haughty arrogance, that man must not sin, that angels are pristine and would not be tarnished by temptations.

The workers are more down to earth, knowing that all man will sin in times of weaknesses and should not be too harsh in their judgement against those that have fell victims to temptations. Workers are in many ways behaving like angels. Would angels then be more like workers and seek a new balance, a new ethos of kindness, sincerity and politeness, in acts and in words?

It is a painful lesson to learn from. Do not jump the gun.

North Korea successfully launched a satellite

The Americans and its proxies are calling it something akin to WMD. No country can launch a satellite without the approval of the international mafia. Countries like North Korea and Iran should remain as third world countries and not allowed to progress, not allowed to have their own satellites. They should forever be kept poor and be at the mercy of the mafia, to receive aids from the mafia and its proxies. They are condemning the North Koreans, threatened to shoot the rocket down, and now threatening sanctions as if the North Koreans have committed a grave sin or crime against humanity.

Now North Korea has put a satellite in the space. What is this accusation that it is a missile to attack other countries or to develop missiles when the mafia boss has countless of them? The next time when Kim Jung Un farts, the Americans would be accusing him of chemical warfare. What else is new? Crying wolf once too often becomes meaningless.

But no, many Asean countries will now be shivering in their pants, fearing the North Koreans are going to send its nuclear armed missiles to attack them. I am not sure if they really believe in such crazy ideas. I am not sure if North Koreans are mad or it is the people in Asean that are mad. One thing I am sure, the North Koreans will have no reasons to do such a silly thing for no reasons.

Well done North Koreans. You have outdone the South Koreans. The South Koreans, despite their claims of technological superiority and wealth, with Samsung and all the world brand electronics, are still unable to launch a satellite after many failed attempts. It is time the two Koreans reunite and share their technology and wealth and bring the two people together as one great people and powerful country.

Corruption or greed can be in many forms

Sin City’s biggest success in public administration is the weeding out of corruption of the monetary kind. The solution is quite simple really. Knowing the psychology of how human beans behave, when greed cannot be eradicated, the next best solution is to feed the greed. Make sure the greed is satisfied, then there will be no corruption.

Today we are facing another kind of greed that was alien to the Govt. Sex has never been an issue with LKY as a shining example of propriety. With such perfect role model, sexual misconduct of PAP MPs and Ministers is a rarity. The revelation yesterday is an indication that this kind of greed is starting to rear its ugly head. And it is better to nip it in the bud which the Govt is fame for.

Now, how best can greed be curbed? Even LKY said that he did not expect his Ministers and MPs to be celibate. Turning them into priests and priestesses is not going to work. Asking them to wear chastity belt may be a bit too much to ask for. And you do not want them to run around in Geylang with the foreign workers.

How could this greed be satisfied the way the greed for money was satisfied? Let them have as much sex as they want or commission a foreign agency to study on this problem? Maybe they can recommend what is enough to keep them from wanting more. I can expect another revolutionary and innovative way to curb this greed. The Govt can be very good in solving this kind of problems.

Punggol East SMC, 还我公道

The similarities in the Michael Palmer affair and that of Yaw Shin Leong were unparallel, almost identical. The Yaw Affair put the WP in a very bad light and caught Low Thia Khiang with hands tied behind his back. There was nothing that he could do except to swallow humble pie, took the slaps, left and turn the other right, meekly. What else could he do otherwise?

It was a great triumph for the PAP. They stood on high moral grounds and principles. They slammed the WP thoroughly with everything they got. Every point that could be scored was taken. The defeat was almost complete, nearly, if not for the result of the by election. That was a rude awakening to the PAP, that despite standing on high moral grounds and from a recent moral victory, they still lost the seat to the WP.

Though the WP managed to secure Hougang, they were treading on dangerous ground. They need to take a very low profile, be very careful and meticulous, not to make any mistake till the next GE. They must hold the ground tightly. Another scandal will be the end of all the good works they have done.

The PAP was waiting outside the fence, looking for holes and waiting for a clear opportunity to score a decisive goal. They needed time for the shaky ground to turn sour for the WP.

No one in the WP or the PAP could ever dream of this Palmer Affair that is going to present the WP with a penalty kick. In the last assault on the WP during the Yaw Affair, the WP must have conscientiously recorded every word the PAP and its ministers had said. Low Thia Khiang may have even etched these words on his back, never to be forgotten. Now he is being presented a chance, on a golden platter, to serve the same words to the PAP with glee. I can see him smiling.

Every PAP ministers who had spoken would now be put to test to stand by what they preached, on high moral grounds, to say the same in the Palmer Affair. Twisting and changing their stance would compromise their integrity and subject them to public scrutiny as men and women of principles and high morals. Not chastising Palmer/PAP in the same way they did to Yaw/WP is unacceptable and will call into question their honesty and sincerity as men and leaders of a just and fair society. Would they deny what they had spoken, steered away and hide in the corner to wait for the dust to settle? Unfortunately this dust will not settle until they say the same things once again, to Palmer and to clear their party of such improper conduct, to be seen as fair and consistent on acts of misconduct and behaviour. Everyone of them will have to account for the same mistake of Palmer.

It is a tough call, to swallow one’s own words. There is no where to hide. Every word they said is on record. Would it be apologies not enough?

Punggol East SMC up for grabs

Would there be a by election in Punggol East with Michael Palmers’ resignation? I think so, and many also think so. What do you think?

The opposition parties would be having a pow wow now on who should have the right to contest this seat. I couldn’t remember who fought against him the last time. If I am not mistaken it was a 3 corner fight with Lee Li Lian from WP and Desmond Lim the third candidate from SDA. These two parties should have priority or the first right of refusal to fight the seat one more time. This seems to be the guiding principle among the opposition parties and may help to defuse a power struggle and bad blood from spilling.

Punggol East is near to Low Thia Khiang’s stronghold of Hougang and Aljunied. Is it going to be another PAP versu WP fight and SDA again? Or would it be a two party fight?

Michael Palmer resigned due to grave mistake.

It is in the news. The Speaker of Parliament, Michael Palmer, has resigned due to ‘grave mistake’ of improper conduct. It was quoted that he had a relationship with a staff in the People’s Association.

Strangling the CPF golden goose

The CPF was the best thing that could happen to Sinkie workers. The high contribution rate was a bit painful for the start, but on hindsight it is actually planning for the ugly future that Sinkies would have to face. Sinkies must by now realize that their income is an income to last 3 or 4 life times.

They need the income to keep them alive during their productive years. Count this as one life time. They need an equal amount or more with inflation added, to keep them alive for another life time when they are unproductive or retired. They also need an income of an equivalent amount to bring up children. Now there are two big expense items equivalent to their life time expenses, housing and private transport if they want that comfort. And if they are unlucky, they need a much bigger sum, more than they need in a life time to pay for the days they need to be hospitalized.

A Sinkie needs to earn 5 or 6 times an income during his working years. Sinkie must divide whatever income he is getting today by 5 or 6 times. He can only afford to spend 1/5 or 1/6 of his income if he is to survive the journey. For a Sinkie earning $3000 per month, he can only spend a max of $600 if he is to survive to his retirement age. Actually the CPF was very well positioned to do the job until….

What the Sinkies did not prepare for, beyond their control, is that some wise guys got an enlightenment. They saw the huge sums of money in the Sinkies’ CPF and started to plan to use this for all kinds of things. Make public housing affordable according to how much the Sinkies can afford to pay from their CPF. They forgot that the Sinkies needed the money for a life time for many other needs. Now the CPF is practically empty or just enough for housing alone.

The CPF was the golden goose that lays the golden eggs. Now the eggs are gone or going. The goose is being made to lay more eggs but cannot keep up with losing the eggs. And when the goose is old and dry, when no more eggs can be laid, and no more eggs are left for winter, it is like a futile exercise. The golden goose is expected to lay a life time of eggs for the golden years. But the eggs have all been harvested, gone long before anyone knows what is happening.

Struck by lightning

Last evening on my way back, the sky was ominously dark. Lightning and thunder bolts were striking everywhere. It was like the gods in heaven were angry. Those under the shelter in the MRT stations should count themselves lucky not to have been in the open as the gods are blind and lightning can strike anywhere.

This morning I flipped through the papers thinking that the lightning could cause some damage to structures or even hitting people in the open. The golfers are particularly dangerous in such foul weather. Luckily there is no news of anyone being struck by lightning.

All peaceful under the heaven again. 天下太平.

The Sinkies have arrived!

For 46 years of nation building and wealth creation, Sin City has reached the peak of its destiny as the richest people in the world. Many are well educated and rich beyond anyone’s imagination. The workers are rich, the cleaners are rich, even the beggars are rich. In the high places, the top honchos have this craze to want to employ the angmohs to work for them, to call them boss and to order them around. They walked around with the angmohs hanging all over them like an accessory statement of having made it.

In the shopping centres and other working environments, foreigners were employed in great numbers to work at lesser pay. In the home front, maids from other Asean countries and even those from China and India could be found working for the aunties and uncles in the HDB. The lower middle class uncles and aunties are living in half a million dollar public apartments and served by maids. Some of these flat dwellers even have more than one maid. The affluence is widespread and flattering.

The table is about to turn with masters becoming servants. The employers of foreigners are getting a taste of their own medicine when the foreigners are starting to usurp their roles to boss around with the locals. A Pinoy, Carlos R. Pestano III alias Kaye Pestano, who claims to be a Process Engineer with “Seagate Technology International” has posted in his blog claiming that the locals are just rotten and working under him, that he is bossing all over them. And he proudly pronounced that they are here to stay, and the locals can lump it. The veiled contempt is now in the open.

This is shocking to many Sinkies. How could a Pinoy be so arrogant and said he is here to stay without the permission of the Sinkies? And horrors, Sinkies are working under him! There is outrage in the internet with many Sinkies crying for his blood. Some even complained to Seagate and Seagate has obliged by saying that the matter is being attended to immediately. Seagate has now made an apology to Sinkies and promised disciplinary action.

This cannot hide the fact that many Sinkies are now working under foreigners, under foreign talents, even if they acquired a brand new IC. What is stunning to the Sinkies is the fact that a Pinoy could spite them and talk about them with scorn, right here in Singapore. In his postings he bragged about Sinkies working for him not in the Philippines but in Sin City, the home of Sinkies.

What else can Sinkies do? Some may want to suggest to the Sinkies to reflect on themselves like when they were called doggies. Sinkies must by now realise that the fake and meek expression and demeanor of the foreigners here harbour a strong dissent and dislike for them. No matter how they tried to appease the foreigners and inviting them to free lunch and parties, the foreigners will never like the Sinkies. They are here only for the jobs and the money. Period. There are exceptions.

When the Pinoy find it up to it to look down on Sinkies in Sin City, I must say, the Sinkies have arrived, at the lowest rung of the people of Southeast Asia, below the Pinoys. This is the real spur that is needed on their hide. Ouch, it is painful huh.

Should Sinkies pay for the impending bus fare hike?

The almost instantaneous reaction by most Sinkies is no, they should not be paying for the pay hikes of the bus drivers. The robotic type will auto reply, if got improve in service quality ok lor. With so many pay hikes in the past, if every pay hike led to a little improvement in service quality, the services would have been perfect by now. Though the pay hike will in a way challenge the principles of cheap, better and fast workers, it seems that right from the top, from the ministers to the masses, there is a consensus and good justification for this pay hike. At least the ministers are saying so or suggesting so.

And the money must come from somewhere, or from someone. Who dunno? From the directors and top management? How could anyone be so audacious to think of this? It would affect their lifestyle and they may be less motivated to work for the bus companies and the service quality will be badly affected. There is still the spectre of corruption lurking in the shadow when they are not paid well. Do you really want this? From the shareholders? How can? The shareholders’ interests must be taken care of as they are shareholders of the company. They took risk of losing their money even in a monopoly business, big big risky. Don’t always expect the Govt to pump in $1b to the rescue.

If not the shareholders or directors or top management, then who? Cheng hu? The Cheng hu already promised to give $1.1b so how to ask for more? Cheng hu where got so much money? Reserves cannot touch.

I think the best source of fund for the pay hike of drivers must still come from the commuters. Some will willingly accept the increase if the bus operators can promise to improve the service quality. As for those who are not willing to foot the bill, one suggestion is to give them a $50 top up to sweeten and soften their resistance. After using up the $50, they will not feel the difference in the new fares, or even forgotten about the higher fares. They would get use to the new fares.

And for the stubborn ones, just tell them that the hike will not cost more than a plate of char kway teow a month. It will only amount to a few cents. They will not feel anything at all. A plate of kway teow a month would not cause them to tighten the belt. The commuters must get use to paying for quality service, for quality management and directors, and the interests of the shareholders. Nothing comes free. There is no free lunch. If they don’t pay, then they must be prepared for lower standard of public transportation.

When Sinkies were illiterate and ignorant

Up till the early 80s, the literacy rate of Sinkies was still not that high. Sinkies were also not so well travelled and they could be easily conned by all kinds of silly logic. They were thus treated as such and told of what was good or bad for them. That was forgiveable then.

One great theory was that privatisation would make govt owned or public services more efficient. And the reverse was equally true. Any private company that is nationalized or turned into a public company will immediately become a flop, inefficient and badly run. Sorry civil servants, I didn’t propound this theory. I was also told that it is so.

There is no need to bother about the quality of the people running it. No matter who, no matter how clever, how dedicated, how motivated, once a person is tasked to run a public enterprise, it would not work. On the contrary, no matter how stupid and silly the person is, let him run a private company, a privatized company, lo, behold, the company will become efficient and profitable.

This management theory should be taught in Harvard or at least in the local universities as the greatest management theory from Sin City.

Some are calling for the nationalization of the SMRT. How dangerous this is. The SMRT will definitely be badly managed and run at a loss. In fact if the civil service and the govt are privatized, things will definitely improved by leaps and bounds. We will have the best civil service and govt as well. Now that they are not privatized, please bear with their level of services for the time being and wait for the day when they are privatized.

How many daft Sinkies will disagree with this management theory? How many Sinkies today think that this is simply bull shit? How many would think that the effectiveness of an organization, any organization, is all about leadership and the quality of leadership and their motivation? How many out there are still thinking that they can con the daft Sinkies today with such lies? What do you think?

They said a lie, when spoken often enough, would become truth. This privatization theory is now a golden rule in Sin City. Dull and stupid people will become efficient and effective when working in a privatized company and vice versa.

Mandarin names of MRT stations

SMRT has just ended its trial to announce Mandarin names of MRT stations. The reason for this trial is due to request by the senior citizens who don’t understand English station names. I think this is laudable on the part of SMRT to be responding to the needs of the commuters. I can understand how difficult it is for the oldies who were mostly illiterate to understand names like Somerset, City Hall, just as examples. Suo Mei Sai, Zheng Fu Da Sha must be more familiar to them, I think. I must confess I have never heard of Suo Mei Sai and find Zheng Fu Da Sha familiar. Bugis, what is its Mandarin name? Would it Peh Sua Por or Bai Sha Po? Should Little India be called Tekka or Zhu Jiao?

What the SMRT could do better is to understand what the oldies are familiar with, what kind of names they used, never mind if the English educated do not have a clue what Suo Mei Sai means. Perhaps it would be more comfortable if they use dialect instead. Chinatown could be Niu Cher Sway or Goo Chia Chwee, or should it be Zhong Guo Zheng?

It’s a pity that this trial has come to an end. I was kind of getting a Mandarin lesson in the train, learning new names that I have never heard of, some in my entire life. If successful, I am sure the possibility of using Pinoy and Hindi names could be considered, if they requested for them. That would make our foreign talents feel more welcome as well. This is like killing several birds with one stone. And many Sinkies could benefit from learning a few Pinoy and Hindi words for sure.

I can understand Hong San instead of Ang Swa or Si Kar Teng. What is Dover called? Or what was Commonwealth?

The flutter is turning into a storm

Some thought after the repatriation of 29 strikers, charging a few in courts and the jailing of the leader, the story will come to a natural end. Zero tolerance, nip the problem in the bud, take a tough stand, kill the chicken to frighten the monkeys, easier said than done. A couple of imitation or sympathy strikes had followed. More grievances are surfacing.

The political parties that were in a slumber have risen. Some found it no longer acceptable to remain reticent. Everyone wants to have a say, to be heard. Not doing anything or not saying anything is no longer an option. The biggest opposition party, the WP, has taken a tougher stand with more deliberate comments on the welfare of workers.

The ministers are also chipping in to the latest Natcon. This SMRT drivers strike is taking on a life of its own, overshadowing and silencing whatever was the agenda in the Natcon. Bus fares must go up. Expectations of drivers are higher. Need to attract more Sinkies to be drivers. But there must be a cap. Cheap, better and faster will no longer be cheap anymore.

Professor Lim Chong Yah is smiling. They need to find money to pay the bottom feeders. The ideal choice is to get other bottom feeders to foot the bill. But it seems that the other bottom feeders have gotten the message and already jumped the gun by saying no, they are not going to be the one to pay. They are asking the shareholders, the directors, the top management, to pay for any increases. Is this not what Lim Chong Yah has been suggesting?

Can a financial centre afford not to have a healthy stock market?

All big financial centres will have a full complement of financial institutions and a stock market. In fact a thriving stock market is the cornerstone of a vibrant financial centre. The absence of a stock market, or a fictitious stock market that is dysfunctional just would not do and will lead to the demise of the whole finance and banking industry.

Could there be govts that are growth biased but blindly allowing their stock markets to wind down into a farce, or crippled through neglect or unwise systems or structures? A stock market has to function like a stock market and anything that is only a make belief and unreal cannot do. The industries, the companies, need a vibrant and healthy stock market with all the fund managers, big and small investors, brokerages, banks etc etc participating actively so that fund raising can be conducted efficiently to lubricate the economy. There is no such thing as a fictitious stock market, a sick stock market, a make belief stock market that is dysfunctional and thinking that the whole financial system will not be affected. It just would not work.

Can anyone imagine a stock market where trading is done by a few computers or a handful of funds, or a handful of investors? I know that it is a foolish thought. You either have a stock market or you don’t. Doing away with the brokerages, doing away with investors, big or small, are simply nonsensical unless the intent is to close down the stock market and lead to a highly strung banking industry that is going no where.

The stock market is really the core of the finance and banking industry. Only small and undeveloped countries do not operate a stock market. And companies will have difficulties raising funds from the public for growth and expansion, and have to rely on individual investors in small circles of contacts. The room for economic growth is thus limited.

Can a financial centre like Singapore afford to have a fictitious stock market or a dysfunctional one? Hither is the stock market? Is the stock market thriving or is it dying?

There are many ways to kill a stock market.

1. When companies find it meaningless to list in the stock market.
2. When there is no critical mass of investors, retail or institutions, to provide the liquidity.
3. Believing that a small market, without contra trading, can thrive as a financial centre.
4. Believing in fictitious trades generated by computers with no real tradings done to replace real trades.
5. Believing that with low or minimal commissions, the brokerages can continue to exist.
6. Believing that a stock market can exist without brokerages and their clients.
7. Believing and allowing unfair trading practices by computers and big funds to take advantage of small traders/investors.
8. Believing that a few computers can generate enough trades to keep a stock market viable.
9. Believing in derivatives trades to replace real stocks.

The signs that a stock market is rotting from within is for main board companies to be trading as penny stocks at 10c. Oops, some are trading at less than that, at 1c. When the true value of a company is more than the listed share value, the company will be scrambling to delist in fear of a hostile takeover in the cheap. When the true value of a main board company is really 1c or worthless, there is no fear of anything, no takeover, and continued listing could still allow the company to raise fund from the gullible public.

How healthy is the stock market? Is it in the pink of health, or just a mirage?

The police force is highly short handed

A student made a police report that a teacher used the word ‘fuck’ in their discussion and felt offended. Would he go further to make a magistrate complaint that he was being threatened by the teacher? Would the next person go to make a police report that his neighbour stared at him so he can also make a magistrate report?

My earlier article on the most serious crime in Sin City was sexual offences and that that was a good thing. Now it seems that the offences or crimes in the City is about four letter words and intimidation because someone said ‘Fuck you’ or stares at you. And the poor magistrate would have to call his court into action because the complainant would engage a willing lawyer to file charges against such ‘serious’ and spurious accusations. And mind you, with enough money, lawyers will be ingenious in framing all kinds of charges for the most incredible reasons even if the complainant is a nut case. They could pay to bring the justice system to bear on you.

I think both the police force and the courts would need to ramp up their manpower and resources to entertain these ‘serious’ complaints by the people, real or unreal, as long as they claimed to be threatened, to fear, and willing to pay the legal fees. The police may need a full contingent of officers to be deployed in all the Neighbourhood Police Posts to deal with this crisis. There may be a need to build a separate magistrate court to handle such cases.

The good thing is that all the serious crimes have somehow disappeared. Or maybe the police force is so bogged down by fuck complaints that they have no time to spare for anything else. This is as good as people happily calling for emergency ambulance services for toothache or morning sickness or when they lost their pet dog. Maybe the police force is now so people friendly that everyone is feeling so comfortable to drop by to have a chat and to make a complaint of whatever sick nature.

My RSAF story

Sometime in April 1969, I quit my first job of a few months, climbed up a 3 tonner and was on my way to Seletar Air Base. It was RAF Seletar, a British base in the Far East of the British Empire. There were two of us at the back of the 3 tonner. Singam was a former school mate and we were rather surprised to meet again in the oddest of all places. We did not realise that we were the last two recruits to fill up the remaining positions for the first batch of pilot trainees for our infant air force. It was too small to be anything and they called it the Singapore Air Defence Command.

Seletar had a little airfield with a little air traffic control tower that would be our training school for the training we were to receive in flying. It was a crash course really. We jumped down the 3 tonner to get a glimpse of the air force we came to join. And the whole air force was right in front of us, two Cessnas, a 170 and and 172 if I did not remember wrongly. For those who are not familiar with aircraft, these Cessnas were light aircraft, piston engine with a propeller in front, used for joy ride by hobbyists in the Flying Club. We were impressed. Never seen an aircraft at such closed range, and never knew what an air force was like.

The Chief Flying Instructor, a Major Foster and a Major Ogden greeted us on arrival. My gosh, two senior English gentlemen in flying suits warmly received these two young men still in civilian attire. In 1969, the locals were still quite unfamiliar with the faces of our ex colonial masters. But they were great guys, seasoned pilots from the RAF. After a few pleasantries we were introduced to another few senior trainee pilots, Andrew, Pat, Tony, Norman and a couple of others.

Andrew was tasked to show us around the aircraft to get us familiar with the machine that would take us up in the air. He walked us through and showed us what was a flap, an aileron, pitot tube, propeller and all the external parts of the Cessna. We did not know that that was Lesson Number One of ground school. Back in the class room at the tower we were given two books on the principles and theory of Flight. Read and ask if we did not understand what we were reading. The senior trainees would be there to help. The content was quite elementary, really. We were genius.

After lunch, Major Foster came to take me for a joy ride. Everything happened so fast, it was like a dream. Joined the SADC in the morning, went flying in the afternoon. And that was Flying Lesson Number One, to test how we reacted to air sickness.

In about a week I went solo. Unbelieveable. I did not even have a driving licence nor  have I driven a car. Then I flew cross country into Johore, over Yong Peng, Layang Layang, Gunong Pulai and a few other small towns, alone. The only thing that I could still remember was the last minute safety advice, to ditch into any open area if the aircraft developed any trouble or engine failure. I was on my own, with only a few hours of flying and barely any knowledge of emergency drill. Partly ignorant, partly foolish, partly young and innocent, everyone one of us went through the routine to prepare us for a Private Pilot Licence. That was the basic requirement for further training in the UK. We did not know what was fear, what was dangerous then. If we ditched, we would be in the news, history. Quite a number of pilot trainees did become history while learning how to fly along the way, the heavy price the young men paid and were mostly forgotten.

All in all it took me one and a half months to get my PPL. I did not know it was that easy. I remembered taking more than a year to get my driving licence a few years later and had to struggle to pass the highway code. During this short phase of our training the 3 tonner driver, NSman, faithfully fetched the handful of us every morning from RAF Tengah to Seletar and back. There was no time for drills or learning how to march. One moment I was an Officer Cadet. The next moment I was a second lieutenant without any basic military training or knowledge of the army rituals. I actually did my basic military training in an Officer Cadet Training School, in RAF Henlow, UK.

Then on that fateful day of May 13, 1969, 5 young men, including myself, left Paya Lebar International Airport to join the first batch of pilot trainees already in the UK to be trained by the RAF as the pioneers of the infant air force. This was part of the deal offered by the British prior to handling over the military facilities to our Govt.

Imagine how time flies and how things were in those days. No ground school, no flying school of any kind. And if I am not mistaken, of the two Cessnas, one was on loan from the Flying Club. The sole possession of the SADC was a solitary Cessna 172 when the Air Force first started. Maybe this was also on loan from the Singapore Flying Club.

A little unusual thing happened while I was going through the crash course. I was officially AWOL from the Police Reserve Unit I was attached to for my part time NS. Everything happened so fast that no one informed the PRU of my enlistment into the SADC. The police went looking for me, probably with a warrant of arrest. I was in camp and did not know what actually transpired. They must have sorted things out after that and I did not hear from them anymore. Those were the days that anything goes and all rules were meant to be broken. There were organisations and rules that were often overtaken by events.

Large quantities of original paintings available

Woman Dressing

A piece of abstract rar art of a woman putting on her dress. With the Art of RAR technique I could create large numbers of original pieces, each piece different, to fill up the rooms of a big hotel or a large installation like Marina Bay Sands, MBS or Resorts World Sentosa, RWS, at a very reasonable budget. The hotels can claim that every painting in each and every room is different.

Turn SMRT into a National Service

The General has been appointed as the CEO. He is bringing in more soldiers to help him run the business. Drivers, logistics, transportations are all key elements in a big armed force like the SAF. The trained manpower and their expertise are relevant and very important both in war and in peace. It is time to nationalise bus companies as part of the SAF logistic arm. One good thing for sure will not happen. No strikes. The next big thing is that the running cost will be down, with NSmen as drivers and guards, yes the installation will be well guarded, no more vandalism. 

The introduction of army discipline will do well for the transport services, with healthy and fit NSmen, young and vibrant and following orders, the buses will be running like clockwork. No need to recruit foreigners. No need to have union and unionist problems. All disciplinary problems just leave it to the RSM.

Routine orders, stand by bed, daily inspection, fitness exercises, cleanly pressed uniforms, a perfectly discipline workforce. What can be better? No need to please shareholders, no need to pay exorbitant management pay and director fees, which means, yes, lower fare. This is like a wet dream. 

Commuters can look forward to lower fare and stable fair, no regular fare hikes. And the management do not have to worry about the profits to pay the shareholders.

Another big plus, with the experience in driving through the city, they will be an asset in FIBUA, knowing every nooks and corners and negotiating all the difficult turns through ground knowledge.

What do you think?

Good reasons for Olam to call off bond/warrant issues

If I did not hear it wrongly, one of the main reasons quoted for this cash call by Olam was to test its ability to raise fund from the market. This has been proven to be true with the $1.25b issue with Temasek’s undertaking to pick up all leftovers. And since Olam’s CEO has claimed that Olam did not have equity problems for the next 12 to 18 months, announcing the cancelling of this bond/warrant issue will pull the carpet under the feet of its critics.

It would also make Temasek look good to the citizens of Singapore. The perception now is that Temasek is rushing into such a deal like they did when the western banks came knocking on the doors and not enough time for due diligence. And if extending this helping hand ends up in the same way as in the last financial crisis, burning a big hole, it is not only a matter of red faces but the whole credibility of Temasek would be in question. Not forgetting more public money down the longkangs.

Some were critical of this intervention by Temasek using Sinkie money to save a non GLC companies. The white knight should be the parent company Kewalram Chanrai Group. Why should Temasek put its neck out when the parent company of Olam is not a party to it or prepare to lose its own money? Is the management of Temasek taking this too far, to bail out a non govt related entity using public funds just because it is a major shareholder and risking to foot the full bill for Olam? The non involvement of Kewalram Group in this bond/warrant issue is making people nervous and unhappy. Temasek should insist on a bigger participation by Kewalram to share the burden and the potential loss. Perhaps this is already done. Perhaps Temasek knows better and this is another good deal, another fire sale, to reap big profits. Whatever, Sinkie money must not be put to unnecessary risk too hastily. The only consolation is that Sinkies need not be unduly worried as Temasek is in good hands and getting the best advice money can buy.

SMRT - A little revolution and 6 martyrs

The SMRT strike was like a little revolution in Sin City that unraveled a lot of nerves and the false sense of security. How could it happened? It should not have happened at all, if only the management was not complacent, more sensitive and not to treat the grievances of foreign workers as something that can be kicked further and further down the road. The workers were on 2 year contract and in no time they would be due for repatriation. Maybe this is the mindset, and there was no urgency to settle anything.

The aftermath of the strike after the govt moved in with a heavy hand, a no nonsense and zero tolerance for strike, elevated 6 strikers to martyr status while 29 comrades were sent home. This is not all. The sacrifice of these comrades did not go in vain. Their grievances are being attended to immediately with the CEO sitting with them in their bed bugs infested bunks. There were promises of improved living conditions and token pay rises.

But things are escalating and more good news is in the air. The Minister of Transport, Lui Tuck Yew, said the Govt recognizes the need to increase the salaries of bus drivers. Now all the drivers, local and foreign are in glee and only the strikers to thank for. And the Union Chief, Lim Swee Say said that the Union is looking forward to serve the foreign drivers, probably laying down the red carpet for them to join them. They would not be any need for little discussions that led to no where. The Union will be representing them to get fair wages and good living and working conditions.

Now for the bad news. Lui Tuck Yew wants to increase their pay but is asking where the money should come from. I am very happy that I do not take buses for my transportation. Don’t look at me. The bus commuters are likely to have to share the woes of the bus drivers, foreign and local drivers, to give them a big angbao for the Chinese New Year.

I would like to suggest, of course it would be of no use, that the fat pay and bonuses of the top management, the directors, and the big profits of the transport company be slashed for this increase instead of the poor commuters. They are too fat for their own good. Okay, fat hope, I know. We don’t even believe in progressive taxation and how could the rich and fat be made to pay for the increases of the drivers? It must come from the poor commuters.

Did I forget that $1b has already been set aside for something like this?

Peace in East and South East Asia, the American Myth

For nearly 40 years after the Americans fought its last war in Vietnam and scooted out of the region, East and South East Asia enjoyed unprecedented peace. The primary concern of the countries in the region after Vietnam, 1975, was economic development and trade.

All this is changing when the Americans decided to return to the region in its so called pivot to Asia. The Americans are telling the countries that they need America to keep peace and stability. The truth is just the opposite. In trying to justify its presence and return to Asia, the Americans have been behind all the tensions in the region, encouraging little countries to challenge China with tacit support of the American war machine.

The Americans are also signing more military pacts with countries in the region in the name of peace and stability, starting with Australia and New Zealand. It is reviving its treaties with Japan, the Philippines and even Thailand. It is encouraging the remilitarization of Japan and egging India to play a bigger military role in its containment of China. These are the American’s way of a peaceful return to Asia. In the wake of its return, a trail of tension has been building up. And it is exactly this, created by the Americans, to tell the countries in the region that they need the Americans in order to have peace.

The truth is that there were peace and stability till the Americans made its presence again and war could break up anytime now. And the Americans are telling the countries in Asia that without the Americans, there will be no peace and stability, that Asian countries cannot keep peace and must be led by the Americans. And the willing spoilers in Japan, the Philippines, Vietnam and India are actively provoking China to respond aggressively to vindicate the American position that America is the answer to peace and stability in the region. And of course, China is the aggressive and expansionist power, asserting itself and bullying the smaller countries.

Ethics and fair practices in the banking industry

A friend of mine, a senior banker, attended a bankers’ dinner several years back. The Guest of Honour was none other than Jackson Tai. In his speech he stressed on the need for ethical and fair practices in the banking industry and he lamented at the lack of it. Some banks were big culprits in violating all the rules of decency to take advantage of a situation, of clients and customers, just to shore up their bottom lines. I was kind of huh, how could respectable bankers be so unscrupulous? I choose to take a neutral line, half believing until proven otherwise.

One of the ugly practices of the banks was to steal clients from competitors by undercutting on the commission. Some bankers even stooped to such practices within the same bank, stealing clients from their peers and associates. It was nauseating that bankers could behave in such despicable and unethical manner in an industry that places great importance to honesty, sincerity, trust, ethics and fair play. This cannot be true either.

What was silly was that the undercuttings ended with the banks getting lesser returns than before from existing clients that were already customers of the banks. And according to this banker, the top management of banks did not even know that they have short changed themselves while throwing away all the good practices and human decency, to look good for some individuals or departments or the bank. Further, for doing so, they exposed themselves to anti competition practices that could bring forth a lot of embarrassment if reported in the media. But these were in the past. Thank God.

Would history repeat itself, that banks would compromise their integrity and reputation to steal clients in unfair and unethical ways? Hopefully this will not happen again as the bankers were supposedly dignified professionals and men and women of great honour, trustworthy and respectability. Indiscretion of such nature is taboo in the industry and beyond them.

I rather be naive and innocent to believe that bankers will be above unethical practices and will live to their reputation as honourable and reliable professionals of the most important industry that touches all industries. I still believe in the perfect picture, of wholesome goodness, that all things are well beneath the superficiality.

I believe that no bankers would compromise ethics and morality to indulge in silly practices that are short sighted and could bring them down with dishonour just to shore up the bottom line.

I believe that the Competition Commission of Singapore would be watching such violations closely and that they know that everything is fine.

I believe that what is happening in the US where banks would cheat their clients by recommending them rubbish products that banks wanted to get rid off, or churning the accounts of their clients for profits would not happen here.

I also believe that before the Dodd Frank Law comes into effect, our banking system will do the necessary to observe the decency and propriety that this law is supposed to do and avoid a conflict of interest the law intends to stop.

I also believe that the banking industry is in good hands, run by honourable men and women.

The SMRT Bus Drivers Affair

One has to sit out in prison, 4 or 5 were charged in court and 29 were deported. And there was a public outcry against the presence of these drivers and their unruly behavior, breaking our laws to go on strikes, and breaking our 26 years of industrial peace, without a strike.

Many of you may know the whole story, some know only parts of the story, some know nothing at all. For those who know the full story, know what was going, touch your heart and say, yes we have been fair, or unfair, to these workers.

For those who do not know, please go and read the whole affair, get the facts and then retake your position on this issue. You have the right to form any conclusion, as long as your heart is there, as long as you can touch your heart and say honestly to yourself, that you can sleep well.

In search of Excellence in mediocrity

There was a hush hush party in one of the top primary school. The students and parents were invited to a midnite celebration in the school compound. It had to be midnite to keep out of sight from the glare of the public. No one should know except for those connected. The principal and staff were quite apologetic for the stealth arrangement instead of grand party.

The school and the parents were celebrating the top student in the PSLE, out of sight so that no one would feel pressurized by the presence of the student. Attendance was by invitation only.

This is the new ethos of Sin City. Top achievers cannot be named. From now onwards, no one will know who is the top income earner in the City. No one will know who is the richest man. No one will know who owns the most properties. No one will know who wears the most hats. No one will know who is the biggest gambler.

The top student of the year will go around like he/she has committed something offensive or obscene, like a leper, to be hidden from the public eyes. What a shameful thing to do to a child who has done something so glorious and meritorious. Oops, shouldn’t have mentioned the word as it is linked to meritocracy, or is it meritocrazy?

There are several parents still bitching about this change in the media forum. Why don’t they let the sleeping dog alone. It’s water under the bridge. Now who is that poor girl or boy who scored so obscenely in the PSLE?

Olam too big to fail?

Olam is raising $1.25b in a bonds and warrants issue exercise to strengthen its liquidity position. Temasek Holdings, its major shareholder, has pledged to pick up all remaining bonds and warrants that are not taken up in a show of confidence or a show of faith. Muddy Waters is still holding on to its position that Olam is over stretched and is a risky bet. Several analysts and brokerage have also issued sell recommendations and MayBank has revised Olam’s value downwards to $1.42 from $1.75.

This Olam saga is becoming the biggest betting game for the moment with investors and analysts making guesses both ways. What is the real picture of Olam’s financial health is going to be of great interest as a bad call or a bad turn could make many investors win or lose big time.

Temasek is betting big this time round and it could mean many things. Is it a case of Olam being too big to fail and Temasek has no choice, being too deeply into Olam it has to boost up some support to protect its position? Or has Temasek done its homework thoroughly and betting a winning horse? Only time will tell as the parties on both sides of the bet are equally convinced of their positions.

Even with the financial data on the table, it is not easy to know the true picture of Olam’s financial standing or its viability as a business concern. It could end up a big win for Temasek or holding on to a big lemon. Is anyone wiser? This is supposed to be business analysis and not buying a gambling chip in the casino, but it seems that it is the case at the moment.

China must behave like a super power

China’s self restraint is becoming a joke to the little countries in Asean and they think they can make groundless claims against its territories, arrest Chinese fishing boats and fishermen and China cannot do anything about it. In the view of Asean countries, China is just a paper tiger. Just shout at China, call it a bully and China will quietly back off.

China needs to act like a big power like the Americans, the Israelis or the Japanese. It must be more willing to flex its muscles to hammer the little trouble makers coveting its territories. At the worst, it must act like the Indians as a regional power. In the Indian Ocean, no countries would dare to trifle with the Indians. It will lash out with whatever it got to any adventurers.

The Indians are moving into the South China Sea. It has declared that it is ready to protect its oil interests in South China, an open affront to China’s dispute with Vietnam. The Indian Navy Chief Admiral D K Joshi said that India is prepared to act, if necessary, to protect its maritime and economic interests in the region. This is as good as telling China that it will go to war with China. And no one is saying India is escalating tension in the South China Sea. That is how a big power should act and behave to keep the little countries out of its way.

At the moment, if China would to say such a thing, the little countries will scream that China is acting aggressively and the US will join in. China must get use to act like the Indians and soon the little countries will learn to accept it. And China must be prepared to slam them if they misbehave in order for them to behave well.

When asked if India is prepared for it (war with China), the Admiral said, ‘The short answer is yes.’ So what is China going to do about it now that India is stating its claim in the South China Sea?

China can respond by being meek and diplomatic and pretend it did not hear anything. China can react by sailing into the Indian Ocean and declare the same that it is there to protect its interests and is prepared for it.

Would China chicken out and be called an aggressor still, an aggressive power at the same time? Or would China just do it, behave like a super power and wield the stick to keep the hyenas away? Like it or not, it will always be called an aggressive power no matter how submissive it tries to be. It is time to kick asses. If China refuses to do so, it will invite more aggressive manoeuvres from the little countries with the Americans behind them. And India is joining the fray as the point man. More trouble and provocations will come China’s way.

Singapore can become that Greater Society

This is the title of an article in Today written by a young doctor. His message is clear. Taxation must be progressive and not regressive. He did not say it, but GST is a regressive taxation where the tax burden falls heavily on the lowest rung of the economic ladder. Do not be deceived by whatever clever talks that GST is good for the poor. It is not. And abolishing of estate duties to allow the super rich to keep their wealth intact is anything but progressive.

Though the young doctor, Tan Wu Meng, commented about many issues, the main crux of his article can be summarized in the following quotes, ‘When all is reduced to price(money), we lose track of the priceless. When a mentality of winner takes all takes root, it takes away something from our society.’ The brackets are mine.

Some may comment that the young doctor’s view is full of youthful idealism. Some may call him stupid as the real world is all about how much to grab, and corruption can be eradicated by paying upfront, legally. These are the hard truths that young people cannot understand. They are not greedy yet.

I would like to disagree, and I believe that life must be filled with youthful idealism to achieve that greater goal of a better people and a Greater Society. The fact that Tan Wu Meng said that Singapore can become that Greater Society is as good as saying we are not there. He also made several pertinent points that I would like to reproduce here to give credit to him.

‘Inequality becomes particularly corrosive to society when people no longer see a path upwards; when those on top do not give a helping hand – or worst, having climbed to the next level, pull the ladder up after themselves and pretend the ladder was never needed in the first place. The meritocratic system begins to fray when great success breeds a sense of great entitlement, rather than the calling of great responsibility to others….A nation’s defence is incomplete unless each citizen feels he has a stake in the future, that he is part of something greater, that he is fighting for more than just another person’s possessions.’

I could not have said it better. This is part of the bigger stirring that is going on. Those who can think are not happy with a situation that looks perfect on the surface, but the truth is further than you think. This young doctor is saying it in a less than subtle way and representative of the polite elite who wanted change but not pushing their points too hard, not wanting to ruffle feathers.

Would his message get through? Would this be picked up in the Natcon as a vital issue to be addressed?

PAP and all the good policies

Why was PAP the party and still in power after 46 years? Obviously it has done many things right, not all. The Sinkies are not dead fish that cannot tell the difference between good and bad policies. Let me just name a few without being exhaustive. Among the best known PAP policies must be asset enhancement, high pay for ministers to fight corruption, high public housing prices(oops, affordable), high fees for good value of services, high influx of foreigners for high growth, high population density, high COEs/car prices, high medical fees(this is related to value for money), high CPF savings, high minimum sums, just to name a few.

And the magical thing about all these policies is that they all work excellently. The country has prospered and the happy are rich beyond anyone’s imagination for a piece of rock without natural resources except people talent, local and foreigners.

But why are there so many grievances and growing? I think it is all a matter of perception. The people did not understand how good these policies are to them and how they have benefitted from them. In a way the people are really daft for not knowing what a good life is, 人在福中不知福。

Maybe there is a real reason for the unhappiness, perceived or otherwise. The policies are damn great and damn effective at one time. I think, this is my personal opinion, the reason for things looking bad, is that they forgot to put on the cap. Having fun is ok, but never forget to put the cap on.

Imagine when there is no cap for minister’s salary, by 2030 it could be $30m each. HDB 3rm flat could be $2m each, COEs could be $1m each, population could be 20m and growing, because got no cap, CPF minimum sums could be $2m each, CPF withdrawal date can be eternity(of course I am just exaggerating) and everything will be similarly risen in cost or price. That I think is the problem why the people are starting to fear for the future. But the people definitely cannot see the salary of a cleaner be $10k per month or a fresh graduate getting a starting pay of $30k, an average worker will be paid $50k a month. And of course by then everyone will be dreaming of becoming billionaires. Becoming millionaires is passé, irrelevant. It is all possible when there is no cap. In short, it is all a problem of going ahead to enjoy the good life without a cap.

Don’t you think so? The policies are all working extremely well.

Bedok/Punggol Branch Chairman – Do not harden hearts

The speech by Bedok Reservoir-Punggol Branch Chairman Victor Lye as reported in the media is most interesting. What he said were important. What he did not say were even more enlightening. I will adopt a ‘read between the lines’ approach to understand the gist of his speech.

The title as reported, A need to ensure PAP does not ‘harden hearts’ is as good as confirming that hearts have been hardened. He referred to the Hougang voters as a case in point. How and what did the PAP do to harden the hearts of the Hougang kias is interesting though no one is talking about it. This is the first admission of this fact.

His recommendation to win back Aljunied is to go with the flow, knowing that it is the national desire for alternative voices in Parliament. How is he going to do it? ‘In Aljunied, we must be prepared to argue for policies that are different from the Govt, even if they are somewhat similar to the Oppositions’. This is simply genius. The Aljunied voters will get an opposition in Parliament no matter who they voted. And this opposition will speak against the PAP policies, right or wrong, because the people want an opposition to do just that.

He also addressed the issue of transport and housing which he said was a perception that these policies were aimed at maximising profits. Really, if it is just a perception then it should not be a problem. Just communicate and explain and the perception will change and the problems will go away.

His other recommendation on transport is that Singaporeans should be put ‘at the heart of the policy while achieving operating efficiency’. Read between the lines, Singaporeans were not put at the heart of the policy while achieving operating efficiency. Is that the case?

His concluding statement for winning back Aljunied, ‘we need to make clear that we have candidates with the right party values’. What are these values? I am sure, very sure, that George Yeo had all these values. But he still lost. Now I am not sure who the PAP is going to put up that is better than George Yeo, that have understood PAP values better, to win back Aljunied.

Anyway, it was an amazing speech with a lot of revelations. It is good that the media reported the speech almost in full. Good speech, and good understanding of the problems or perceptions of the problems PAP is facing.