12/07/2006

nuss needs 2 finance professionals

elfred, if you are reading this, this is for you. go to the marketing/advertising columns in redbeanforum.com for contact numbers.

singapore in trouble. foreign talents leaving!

The foreign talents are up in arms The foreign talents are unhappy with the latest Singaporean first policy and are complaining. Yes, foreign talents are complaining. And they are damn right to complain as our country has no talents and needed them badly to survive. Let me quote a Fauq Shadhili, probably a PR or new citizen, 'Thus, to think that we could afford to lose even a single foreign talent to greener pasteurs when it is obvious we do not yet have either the same talent or manpower to achieve our desired level of success - is just silly.' He is, yes, I must admit that he is damn right. Even our govt has acknowledged that we need foreign talents. What with all the whinny useless Singaporeans, we will be doomed. This is a wrong turn of policy. We must embrace foreign talents, welcome them into our house, treat them very well, and pray, if need be, go down on our knees, or else Singapore is finito. Who the shit built Singapore to this day over the last 40 years? Yes foreign talents of course. But those foreign talents are now useless citizens. Finished, kaput. We need to replace them with more clever foreign talents for our future. Singaporeans owe it to the new foreign talents. And once they become Singaporeans, they too will become 'has been.' The tag Singaporean means no talent. It is silly to drive away foreign talents because we did not subsidise their cost of living but subsidise those of Singaporeans. Maybe we can fine tune the word 'subsidise' by saying that everyone will pay the normal fare or fee at market rate. Singaporeans will not be subsidised. That will appease our foreign talents. Then we can issue more ERS or Singapore shares to citizens. Or we can give discounts to citizens. Would that be fair? Foreign talents, please don't complain lah, we appreciate your talents and welcome you here to make your fortune. Be nice to us ok? Please, or we will be doomed.

12/06/2006

GST, Hongkong versus Singapore's

Hongkong drops its GST plan The Hongkong govt has done its survey and knew that it could not convince the Hongkongers with the idea of GST. So they scrap it. This is Hongkong's version of democracy and govt of the people and for the people. In Singapore, the govt decides to have GST and that's it. Even the latest 2% increase, it is as good as approved. Does the view of the people matter? Does the govt need to consult the people? Do the MPs raise any objections? This is Singapore's version of democracy, govt of the people and for the people, plus govt knows best and govt will decide and the people accept. Now it is how best to cope with it.

expats, no obligations. it's an unwritten contract

Robyn Speed, an expat foreign talent, wrote in the Today paper asking the govt to give expats equal dues. His argument is that the expats are here to help Singapore and raise the competitive standard of Singapore and we owe them a debt to treat them equally. The argument is true in some aspects. They are here to help Singapore. They also contribute to our growth and competitiveness. We agree. And our govt have been singing this song for a very long time that even Singaporeans believe so. And definitely the expats also believe that Singapore lacks talent. The real foreign talents are here on very exclusive packages. The little cost in schools, public transport and medical will not affect them at all. Not only that they can well afford them. These cost are normally paid by their companies. Further, they don't patronise govt hospitals nor local schools. Neither would they take public transports. The expats that will be affected are the average talent expats that Singapore have plentiful. In fact they even take the jobs from Singaporeans. What this group can do, any average Singapore talent can too. If they are that good, they would have gone somewhere else. If Singapore is that bad, they too would have gone. But there will be hungrier expats the world over to fill up their places. No need to worry too much about this group. And it is misleading to say that Singapore is discriminating against them. The country has in a way been discriminating against Singaporeans in favour of expats. Now the natural order of things is just going to be restored. Actually it is the country that is going back to treat its own citizens better. No country treats its citizens worst off than foreigners except for real talents. Not the run of the mill average graduates who came telling us that they are talents and need special treatment from us. Anyone earning lest than $20k a month is not a special talent that deserves to be treated exceptionally. It is high time that this message gets through to all the 'so called' foreign talents here. You are just an average talent that we have plentiful. You are here competing with our local talents. The least the govt should do is to level the playing field in favour of local talents. And it is only right that the citizens enjoy more benefits than foreigners. And if these average talents think that they have a raw deal, please find a better country that treats them better, preferentially. All expats know their own worth and which country will pay them better. They are constantly weighing their options and will go at any moment. There is no loyalty nor obligations for an expat to any country, nor to us. They don't do us a favour but to themselves. There is an unwritten contract that they are paid their worth or else... Those who are here know that they have a good deal.

12/05/2006

Outsourcing saves Govt $34.6m a year.

The above headline in the Today paper tells the story of how MOM outsourced its functions to Green Dot Internet Services and saved $34.6 mil a year. Now that is ingenuity and brilliant management at work. If outsourcing is the cure all of inefficiency in the civil service, imagine how much can be saved if all the ministries outsource the same function to an outside agency? 10 ministries will save $346 million a year. And better still if all the other functions are also outsourced, just leave the Perm Secs and the Ministers behind to do the thinking, or a small core of administrative officers, we could save billions from outsourcing. Actually there is another term for this. Privatisation for efficiency! If the civil service is so inefficient that only outsourcing and privatisation can be the remedy for good service, do they need to be paid that kind of salaries? I am thoroughly confused. I am thoroughly confused. I don't think this is the true picture of the whole story.

To be or not to be...a Singapore citizen.

To be or not to be...a Singapore citizen. This is going to be a hot debate after the latest speech by Hsien Loong on being Singaporean first. The line has to be drawn, a bit late, but still better than to let it continue down the road to a disintegrated country when foreigners can push over citizens and citizens feel unwanted and discriminated in their own country. The initial reactions by the foreigners, the PRs, who had it so good for so long, are quite expected. For those who have quietly enjoyed the good times at the stupidity of this country, they knew all good things must come to an end. To some who think that Singapore owe them a living, they will feel very sore. Below are some comments from those spoken to by the Today paper. 1. I think this move by the govt sets the PRs thinking. 2. I will think carefully about citizenship so that I can enjoy the same amount of benefits as everyone else. 3. Becoming a citizen is a practical thing...at heart I will always remain a Filipino. 4. It was only fair that citizens should enjoy more benefits than foreigners. And this message comes from a foreigner. (Geez, what the f... have we been thinking all these while?) 5. If I'm told to pay more, of course, I'm not happy. To be here for so long, and then to be discriminated against, is not so nice. (The citizens in Malaysia who are not Malays would not say this. Try asking them what it is like to be a citizen and be discriminated against). 6. I think they are trying to make PRs become citizens and for Singaporeans not to feel any jealousy. So what can I do? If this goes on, I don't mind being a citizen. Does anyone think that we have blundered all these years?

12/04/2006

recognise our leaders

The Straits Times reported that there is widespread support to recognise our leaders and well known Singaporeans who have contributed to the nation and the people. Not a bad idea. We can have Goh Keng Swee Industrial Park instead of Jurong Industrial Park. The Ong Teng Cheong MRT or Ong Teng Cheong Theatre at the Bay instead of the Durians. Jurong Island can become Philip Yeo Island. Who gave the go ahead for Changi Airport? LKY? If that's the case we can call it LKY International Airport. Marine Parade can be renamed Goh Chok Tong Parade, Lee Hsien Loong Marina Resort...just some examples of new names to honour the men behind the ideas or monuments.

gst, more than what was told

Previously we heard that the 2% increase is to help the poorer Singaporeans and to make them better off, and also to close the income gap. Now it seems that the tax raised will go to many other things like paying medical bills, building facilities for the oldies, for investing for the future, and also some to be set aside in case of in case and in case… something happens. This last part is very familiar. Now where has this last part gained notoriety recently, savings and savings and savings without knowing what it is for and without knowing how much savings is enough? Was it some charity money being shiok shiok set aside and forgetting that the money was supposed to help the people’s immediate problems?
2003 Household Expenditure Survey/Census of Population Bottom 20% $302.41 average monthly income per household member Next 20% $578.45 Next 20% $877.69 Next 20% $1306.70 Top 20% $2845.87 The above figures were provided by Siew Kum Hong using some extrapolations of 2% and 4% of annual rise in income and expenditure for period 2001-03 and 3004-07. If the average income of each household member of the top 20% is $2845, what about those with an average household income per household member of $5,000 or $10,000? No such animals?

thank you bloggers and forumers

Thank you bloggers and forumers That is what the govt would like to say but would not say it after hearing Hsien Loong’s speech at the PAP Party Conference. He had addressed all the concerns raised by the bloggers and forumers in cyberspace. The main issues were of course all the concerns about the GST, the poorer Singaporeans and the recognition and the need for a clear distinction between Singaporeans and non Singaporeans. Even the hiphop that was not hip were not missed. The gripes that PRs and foreigners were receiving the same or better treatments than Singaporeans were put to rest in a way, hopefully. And these were issues that no main stream media would dare to raise, or if they did, in a very cursory form. Only in cyberspace that all the fires and brickbats were hurled daily to make the issues an urgent issue not to be ignored. Hotel Singapore was not mentioned directly but it was clearly denied that Singapore was a hotel for all the fair weather travellers and freeloaders. There is a saying that the people who complained the most, who made the most biting remarks are actually your teachers. These are the people that meant well and if carefully listened to, they have a message to tell. Compare this to all those that only say good things and praises, the end result can be disastrous. It is like no warning signs and suddenly death struck. Bloggers and forumers, you are heard. And you have an important role to play. The MSM cannot do what you are doing. They only sing praises. And without the kpkb in cyberspace, all the concerns that Hsien Loong addressed may not be addressed at all. With MSM and everyone saying only the good things, the PAP may have just go along with what it was doing happily.

12/03/2006

another jumper at admiralty station?

Looks like the train had taken a wrong turn. The MRT track is now for pedestrains to use. Whatever, it is a message, a very loud message to those who think earning a million is not enough and need more pay rise. All the talks about compassion and helping the poor when one by one jumps onto the MRT track. Do all these acts evoke any sense of guilt? Or should the party go on and peanuts for everyone?

we need another brilliant sequel to 2% gst

I have sort of been praising the impending 2% rise in GST as one of the most brilliant ideas that can come from our supertalents. And I really hope that they can pull it through and benefit all the poor buggers who are struggling for an existence, the 30% right at the bottom and the 40% sandwiched in between. Just hope that the tax raised out of these 2% are not redirected somewhere else under whatever guise. It is for the people, to help the people, to reduce the income gap. It is not to build more infrastructure that cannot fill the stomach or pay for school fees and transport, not for the pay rise of the already very comfortable. But this part is hard to prove as budget not spend in one area, or save, will mean that it can be used in another area. The ingenuity of this move is that it defies all conventional wisdom. It is like saying gravity will throw an apple upwards. Nonetheless it is a great idea, a great hope. And that is why they deserve top dollars for exactly things like this. Now I am looking for a sequel, another ingenious idea like paying all Singaporeans, including the low level workers, high salaries and still be competitive and productive. I would like to hear a new directive or plan saying that Singapore is moving away from low wages and need not fear competition from India and China. Or something like we can pay our workers the highest salaries in the world and still attract all the MNCs to set up operations here. Now that will be something that can match this 2% GST to help the people and make them better off.

How Singaporean are we?

The latest incident in Medan where a Singaporean working there was beaten up by an Indonesian cop is a good example of how much Singaporeans feel as one people. Watching the video clip in the news of the Singaporean being viciously battered when he was down and defenceless could and should evoke some kind of emotions from fellow Singaporeans. It did to me. The victim was a Singaporean, was one of us. It was quite a sickening feeling to see foreigners taking liberties to bash another Singaporean. It is like bashing us. I raised the issue in Cyberspace, in both my forum and blog. The reactions from fellow Singaporeans range from apathy to denials. Some even raised questions like the Singaporean probably had done something wrong and invited the attack. It is kind of, well, it does not concern me. There is no ‘us’ feeling. We don’t feel nor share the sense of being Singaporean. The misfortune that happens to other Singaporeans does not concern us. Why was there no emotional outburst or gut reaction against the attacker for attacking another Singaporean? I would expect some angry postings or protests in cyberspace against the attacker. Maybe hurling some abusive remarks like in cyberspace style. But practically nothing was said. A non event. And no letters to the Straits Times forum. Is it that we are now being too rational, too logical, too pragmatic, too thinking, that we are so detached from our emotions? It could be a good thing. But from the angle of being a people, I would like to see a spontaneous feeling of anger and a sense of injustice for another Singaporean without the rationalization. This can come up later when things cool down. When we are talking about being Singaporeans, being one people, it is an emotional thing. Some can feel proud or shed a little tear watching the National Day parade and knowing how far we have come. When Michael Fay was being caned for breaking our law, even the US President got involved. Then the Australian Govt and Australians were all emotions when we hanged the Australian drug peddler. This is what being one people is all about. To stand together, to feel as one people. I think we have lost that in the Medan incident.

12/02/2006

harry's other island

Harry's other island Eighth Wonder's US$3.5 billion bid includes a laundry list of attractions from a Deepak Chopra well-being and retreat center to a soccer academy under Pele to another contender for the world's largest man-made coral reef under Philippe "grandson of Jacques" Cousteau with 10 hotels with 2,100 rooms. The centerpiece is a man-made extinct volcano surrounded by a saltwater lake with 35 rides and attractions called Harry's Island, after Harry O'Brien, the fictional founder of the resort, born in 1900 at Raffles Hotel. Harry also happens to be the western name Lee Kuan Yew adopted as a student in London. Eighth Wonder chairman Mark Advent may or may not know that but it hasn't escaped the notice of one local blogger. Dr Huang Shoou Chyuan says the "cheap marketing ploy ... reveals the people of Eighth Wonder for what they are - low-class desperados!" The above is copied from the Asia Times by Gary Lamoshi. If Eight Wonder were to win the bid, Sentosa is likely to be renamed Harry's Other Island. Oh, it used to have a volcano there too. But now inactive.

myth 99

'The myth of incorruptibility' An MNC buys talent all over the world. And they too fear corrupt employees. So how best to prevent employees from corruption? Pay them well, very well. But how? What they could probably do is to assess the corruptibility index of the applicant sitting in front of them and ask, 'How much will satisfy this guy?' Not how much this guy is worth. The guy in front of them is probably a super talent, and presumably will bring all his talents to the company given his straigth As in schools. Assuming they assess that this guy will want to earn his $10 million in 3 years, and he will do it the right way or the corrupt way, the MNC can then make him a reasonable offer. They can offer him $5 million out front and tell him he can get his $5 million over the next 3 years. Quite a fair deal actually. The guy should be happy as he will get his $10 without being corrupt. The net result is still the same. $10 million into his pocket. And the MNC is corruption free. And this guy with a $10 million corruptibility index will be seen as an honest man earning his honest pay. It is a win win situation. One strange thing is that China, rated as one of the most corrupt countries, refuses to adopt this model for its elite.

are singaporeans believers of blind faith?

Singaporeans are great believers. They will believe in anything especially things that were spoken in a sermon from the greatest church. I am just kidding. Not many people believe anymore. Even the preachers or the converts don't believe too. They just move along and take a ride. And the majority of the plebeians just could not do anything but to resign to their fate. Could anyone believe that a family income of $2000 is barely enough to live and get by? On the other hand a maid could send their $300 income home and be fairly rich when she completes her 5 year stay in this paradise? It was just 30 odd years ago when a fresh graduate with a 4 figure salary was very comfortable, and middle class. I mean only $1000. And a minister with $5000 monthly income is rich and could afford to buy detached houses. Today, a fresh graduate earning $2000 or $2500, is not even over the hump. He could not even afford to buy a second hand car to impress his girlfriend. How much is a minister getting? $50,000 or $100,000? And they are going to give the young graduate a perk in the coming pay rise exercise of $300 or $500 while the millionaires are going to be getting a $50,000 or $100,000 increase a month! And the excuse is that it be cannot helped if the income gap keeps widening. And the poor millionaires need to get their just increase or they will not work or be poached by MNCs with bigger pays. And yes, Singaporeans will 'believe' or will just live with all these craps.

12/01/2006

A Singapore phenomenon

A Singapore phenomenon Many oldies or not so oldies are being retired from the job market. And these oldies are all desperate as they did not have much savings, a growing family and bigger financial responsibilities. The more these oldies needed money and jobs, the more money and jobs fled from them. On the other hand there are many oldies who have fortunes the size of a mountain and could have retired happily and graciously to live out a wonderful life. They could find more meaning in life and exploring life without a care. But they choose to work and continue to earn millions which they don't really need. Perhaps they really love to work, to contribute, to serve society and people. Or they did not know how to enjoy life, or working is their way of enjoying life. Definitely they cannot be greedy for the money. It is something they have too much of. And though they may not be in the same category as Warren Buffett or Khoo Teck Puat who have to give away their excess money, they surely have no need to 'pah si buay chow' to hang on to their jobs just for another million more.
Wonder Drug GST LSD was the wonder drug in the 60s and 70s. Today the wonder drug for Singaporeans is GST. This is the drug that will give a boost to all the dying and hungry poor Singaporeans. With a 2% shot, they will all be better off. Now this is a really brilliant thing and deserves to be applauded. The only reservation is this comment from Tharman, 'And once the GST kicks in, there will be no increase in Govt fees - including conservancy charges and car park fees - for one year, said Shanmugaratnam.' So, will the drug continues the feel good effect after one year? I read some of the comments on GST and suggestions to fine tune it to make it less painful on the poor. And it seems that it is too big a trouble to exempt basic necessities from GST. They have problems to tax on higher quality rice. And the same logic was quoted about GST on takeaway food in Britain. Such examples reflect on the meaness in the thinking process. So what, let everybody eat rice and if people can afford to eat better quality rice or choose to save a little GST by opting for takeaway food, is that so disgusting to accept? Why would people have nightmares on such trivialities? And to insist on GST on basic necessities I can forsee that more food vouchers will be issued and there will be long queues at NTUC outlets for people to get them. The only consideration that could come from this alternative will be more means testing to see who can qualify for food vouchers. I better prepare meself to be in the queue too. But need to know what are the criteria first. First thing to do is to cancel all my bank accounts, hide whatever cash under the bed, sell off the cars temporarily, maybe downgrade to a two room flat. I am looking forward to the GST jab.

11/30/2006

award of sentosa ir becoming a pr execise

The award of the Sentosa IR could turn out to be the biggest PR exercise facing the govt. Handled brilliantly, we will get a really fascinating IR to brag about and more international friends and recognition. Handle it badly, rigidly, play by the book in a no nonsense way could still get us a very good IR but may cost us friends and a tarnished reputation. The 3 bidders are putting everything they got into their proposals. They are extremely serious and have spent an enormous amount of money for their bids. Though eventually only one will come out the winner, there could be two sore losers to lick the wounds. And with Najib joining the fray by rooting for Genting, it complicates the matter with political implications and cross border relations in the yo yo. How could the award of the Sentosa be turned into a happy ending for the bidders? Two IRs being awarded, or allowing the two losers a second go at the development of the southern islands with their current bids being treated as a pre qualifications? It would give the unsuccessful bidders a little sweetener to go home with and a lot of goodwill to kick around.

no need for charity shows anymore

Move aside Charity shows Now who said charity show is the most effective and efficient way to help the poor and needy? Now the most efficient way, with minimum cost, is through GST. This is really brilliant. So with a stroke of the pen, all Singaporeans have done their donations for charity. No need to risk the lives and limbs of actors and actresses, no need pathetic looks on tv, no need to dial the mobile. And how much is raised? How many billions? And no need to pay for telecom and mediacorp production cost. Now who can beat this kind of innovative idea?