Which blog or forum is part of the PAP stable?

The PAP has been preparing itself to play a bigger role in cyberspace. Having recognised that this is an area it cannot neglect and cannot close down, the only other option is to engage cyberspace fully as an active participant. It mentioned that it has its blogs and forums in place and it can be expected to launch its entry into cyberspace with a big bang. Now which are the blogs and forums that are actually linked with the PAP? So far we have only heard of the famous P65 and the YPAP forum. Which other ones will stand up and declare that it is also a PAP blog/forum? It will be interesting to see the real faces when the curtains are drawn. But I bet not every blog/forum will reveal its true affiliation. So there will still be a lot of guess work to try to identify who is the real McCoy.

The Art of comparing pay

Just a few weeks back, Liew Mun Leong was in cloud nine. He was the highest paid CEO in the island. So far no one is claiming to be paid more more $21m. He is also the highest pay employee in the island, private, public, civil servants, politicians, charity organisations, religious organisations all considered. Today he is probably feeling not so high when ST compares him with the CEOs of America. There they were being paid in hundreds of millions and in US$. What Liew Mun Leong got was peanut, yes, peanuts. And based on the ST articles, Liew Mun Leong is very deserving. The American companies are paying their CEOs more than Liew Mun Leong even when their companies were losing money. It is indeed a great lesson in how to compare pay and how to make one looks good or looks not too great. Our politicians sure don't look too good when compare to Liew Mun Leong. But when apples are compared to apples, our politician's salary are beyond comparison. I hope they now believe that they should not be asking for more increases until at least Barack Obama catches up. Maybe the old media should do an investigative report on all the incomes of the world's top politicians, including all the corrupt money they are getting. I am wondering how much corrupt money is Obama and Brown or Kevin Rudd getting, or Sarkozy? Then our politicians salary will be peanuts once again. And they can then justify for another round of increases. And the people will say, ya, they are underpaid.

Finding square pegs for round holes

The second round of the election campaign came on this morning. The first round was to feature the last batch of recruits that are now in office. Today we are seeing 5 new faces being featured, all very talented and successful young people. However, all 5 denied that they were interested in politics and would want to continue to pursue in their own chosen career path. For saying this, they have passed the most crucial test to be selected as candidates for the next election. Saying yes will be an immediate rejection, for harbouring political ambition. So, the next 5 new candidates for the PAP, based on my deep knowledge and understanding of how the system works, are: Terence Foo, 38, Managing partner of financial communications agency Kreab Gavin Anderson, Nizam Idris, 41, executive director of foreign exchange strategy at UBS Investment Bank, Adrin Loi, 54, executive chairman of Ya Kun International, Sybil Rocha, 25, lawyer, and Chew SuTat, 36, executive vice president and head of market development at Singapore Exchange. These are all fine young people who are professionally trained and with excellent track records in their own fields, but zero or near zero track record in politics. The only exception is Chew SuTat, a PAP member who has worked with an MP and also in the Young PAP Executive Committee. A clean slate is an advantage for a new programme to be installed into their systems of values and beliefs. We can expect more publicity to be given to another few batches of candidates in the next couple of months. Yes, the election campaign has started.

The TOP 30 highest paid politicians in the world

The TOP 30 highest paid politicians in the world are all from Singapore: 1. Elected President SR Nathan - S$3.9 million. 2. Prime Minister Lee Hsien Loong - S$3.8 million. 3. Minister Mentor Lee Kuan Yew - S$3.5 million. 4. Senior Minister Goh Chok Thong - S$3.5 million. 5. Senior Minister Prof Jayakumar - S$3.2 million. 6. DPM & Home Affairs Minister Wong Kan Seng - S$2.9 million. 7. DPM & Defence Minister Teo Chee Hean - $2.9 million 8. Foreign Affairs Minister George Yeo - S$2.8 million. 9. National Development Minister Mah Bow Tan - S$2.7 million. 10. PMO Miniser Lim Boon Heng - S$2.7 million. 11. Trade and Industry Minister Lim Hng Kiang - S$2.7 million. 12. PMO Minister Lim Swee Say - S$2.6 million. 13. Environment Minister & Muslim Affairs Minister Dr Yaccob Ibrahim - S$2.6 million. 14. Health Minister Khaw Boon Wan - S$2.6 million. 15. Finance Minister S Tharman - S$2.6 million. 16. Education Minister & 2nd Minister for Defence Dr Ng Eng Hen - S$2.6 million. 17. Community Development Youth and Sports Minister - Dr Vivian Balakrishnan - S$2.5 million. 18. Transport Minister & 2nd Minister for Foreign Affairs Raymond Lim Siang Kiat - S$2.5 million. 19. Law Minister & 2nd Minister for Home Affairs K Shanmugam - S$2.4 million. 20. Manpower Minister Gan Kim Yong - S$2.2 million. 21. PMO Minister Lim Hwee Hwa - S$2.2 million 22. Acting ICA Minister - Lui Tuck Yew - S$2.0 million. 23 to 30 = Senior Ministers of State and Ministers of State - each getting between S$1.8 million to S$1.5 million. Note: 1. The above pay does not include MP allowances, pensions and other sources of income such as Directorship, Chairmnship, Advisory, Consultancy, etc to Gov-linked and gov-related organisations or foreign MNCs such as Citigroup, etc. 2. Though it is based on an estimate, the data cannot be far off the official salary scales. The above was posted in redbeanforum by Green Peas.

Terrorists at home

I am very sadden by the child abuse video posted in Stomp. I feel so sorry for the poor child who was being kicked around by the woman in the house. A child expects love and tender care. She must be so shock and did not even know what was going on. My god, how could this be allowed to go on? I recommend to parade the woman in the street and let the public kick her for pleasure. Why would people pay so much to bring a terrorist home?

Sentosa up its price for attractions

Some of the more popular attractions in Sentosa will have price hikes from $1 to $6. This is to increase the value of these attractions. Oh, like GST is to help the people. Quite logical actually. Sentosa has spent quite a bit of money in an advertising blitz in February to attract visitors to the island. The money spent must come from somewhere. Further, one can expect that the attractions will be more attractive with the price hike as Sentosa is going to give more value for more money paid. Just keep the entry into the island free and they can raise all the fees they want. Then it will be a case of demand and supply. I hope this island in the sun for Singaporeans will remain forever free. I dread the day when Singaporeans will again have to pay to visit the island.

PAP Youth Wing coming online

Yes, Teo Ser Luck is leading the YPAP into cyberspace. This is reported in the old media today. The YPAP forum, P65, PAP facebooks and what not, will be given a revamp and a big boost, a big bang into cyberspace. This is good news for the new media. This new position of PAP is the best sign of approval that cyberspace is going to be here for now and tomorrow. We will have more views, more pro PAP and pro govt views to balance the current negativity in cyberspace. There will be more exchanges and debates over issues, and this will liven up the discussion. The army of young PAP activitists have been released into the cyberspace playground. No longer will they be leased or kept within their closed doors to chat among themselves. The first thing I did was to take a peep at the YPAP forum this morning. No change yet. Still the same as it was before. I am truly excited and looking forward to the change. At the very least they will delete all the pornography being posted there. Now, will the PAP activists take on the challenge of the cyberspace guerillas, warts and all, and return the same compliments?

Top 10 highest paid politicians in the World 1. Lee Hsien Loong - Singapore Salary in dollars - $2.47 million Salary in local currency - S$3.76 million 2. Donald Tsang Yum-Kuen - Hong Kong Salary in dollars - $516,000 Salary in local currency - HK$4 million 3. Barack Obama - United States Salary in dollars - $400,000 4. Brian Cowen - Ireland Salary in dollars - $341,000 Salary in local currency - €257,000 5. Nicolas Sarkozy - France Salary in dollars - $318,000 Salary in local currency - €240,000 6. Angela Merkel - Germany Salary in dollars - $303,000 Salary in local currency - €228,000 7. Gordon Brown - UK Salary in dollars - $279,000 Salary in local currency - £194,250 8. Stephen Harper - Canada Salary in dollars - $246,000 Salary in local currency - C$311,000 9. Taro Aso - Japan Salary in dollars - $243,000 Salary in local currency - Y24 million 10. Kevin Rudd - Australia Salary in dollars - $229,000 Salary in local currency - A$330,000 The above is an extract from a Times Online article posted in Singapore News Alternative. And my god, the information was so wrong. Shall I correct it? Doesn't Times know who are the top 10 highest paid politicians in the world?

When numbers are Pure Nonsense!

The saga of Liew Mun Leong is still on going. Another article by Lee Su Shyan in ST today questions the logic and ridiculous nature of the way numbers are being used to justified pay and think that it is reasonable and acceptable. Liew Mun Leong's bonus is equivalent to 0.7% of the company's profit which is very, very reasonable. Compare to Kwek Leng Beng's in percentage term, his $20.7m is smaller and thus fairer. Kwek Leng Beng's is 1.1% of his company's profit. Wow, too much! Such use of numbers as comparison and justification is an insult to the shareholders intelligence. And it make a mockery of Obama's pay compare to the US economy of US$10 trillion. Obama should be paid many times more. And closer at home, Hsien Loong's pay is ridiculously low in percentage term to the GDP or whatever national data one wishes to use. When would such cock reasoning be slammed as bullshit and a reasonable compensation formula become the norm in industries? Yes, the shareholders have a lot of questions to ask in the next AGM. They should also ask what the top twenty employees' bonuses were to be fair to Liew Mun Leong. If the top twenty employees are getting several millions each, then Liew Mun Leong should not be the one that is under the spotlight.

Myth 206 - How accessible is our justice system to the poor?

The pride of our judicial system is that it is fair and just and accessible to everyone, theoretically. Everyone must have remembered the NKF cases when a few victims quietly paid up when faced with lawsuits even when they were in the right. They had to pay up, apologised and looked like a fool all because they could not afford the legal fees in a lawsuit. And there have been other cases when the victims simply weighed the cost and find it cheaper to pay and walk away than to fight it out for justice. Motor accidents must have many of such incidents. Is our legal system really accessible to the poor victims? A few who have met the criteria of being shamefully poor may be able to get legal aids and assistance. But many will not fit in. I can safely said that legal justice is available to those who can afford to pay for it or those who are so poor to qualify for aid. In the case of tort or non criminal lawsuits, it is unlikely that legal aids or assistance will be available. Correct me if I am misinformed on this. Is there anyway to make our justice system more accessible to the masses and the victims of injustice? I was reminded of the American 'contingency fee based system' which means no legal fees unless the case is won. I am still disturbed by the fact that this practice is not allowed here? What is so criminal or unjust or unfair to have such a system? Under the present system, like it or not, when a lawsuit is knocking, you have to pay up first. Be prepared to pay and hope to win to claim damages against the other party. No money you lose by default. A 'contingency fee based system' will allow the lawyers to judge a case and take on the other party when there are merits for it. This in a way can stamp the frivolours lawsuits initiated by those with deep pockets. The govt's legal aid can also provide such a service based on the merits of a case rather than on how poor is the applicant. Justice will then be available to the innocent and not innocent and poor. And the cost can be claimed from the other party. It is not necessarily a totally free service. The availability of such a service will level the floors in the public courts and also provide more businesses for the legal profession. Of course spurious and frivolous cases will be lesser as the bully will know that justice is available to the poor and innocent as well.

Time for a petition to the govt

The motorists must do something to prevent the motor insurance companies from reaping them off with the reckless increase in insurance premiums. Many motorists have clean driving records and the NCD is supposed to recognise this by reducing their insurance premium. Instead, their insurance premiums are now ever higher than before. How can this thing be allowed to go on and nothing can be done to it? Is there any govt organisation that can put a stop to this mindless daylight robbery? It is time to petition the govt for action. Innocent motorists cannot just keep quiet and let the insurance companies imposed whatever premiums they deem fit when the high cost is not due to these motorists. Can the govt agencies do something immediately? There is no point in talking cock and wasting time. Action is needed now. At least freeze the rate to last years and talk later.

Victims of ethics

Madam Chiang Meng Lee wrote to ST about her involvement in an accident which was clearly the fault of the other party and a few days later a legal letter came accusing her of being the cause of the accident. I too had such a case in the past when a reckless taxi driver swerved into my lane. And I was accused of causing the accident. This kind of tactic, to point the guilty finger at the other party cannot have come from the drivers but must come from other interested parties. Whoever offered such advice must be totally devoid of morals and ethics. The main intention is to win even if turning the table against the innocent parties. This is how dark our society has become. And if one does not have the money to engage an equally good lawyer and pay through your nose, just too bad. Be prepared to become the victim and pay for all costs, including legal cost. Yes, our judicial system is fair to all, but conditional that you have more money than the other party. Where is the ethics?

Money or your life?

This was the infamous catchphrase of the 60s and 70s when the island was infested with triads and secret societies. It was a common occurrence to find a knife at one's throat while walking alone and the phrase, 'money or your life' would threaten the intended victim. Many would just have their wallets emptied and walked away a few dollars poorer. Today, 'money or your life' has taken a new meaning. The amount is much much bigger. And the victims were not healthy people walking alone at night, but walked with a whole entourage of family members into a posh hospital. There, the extortionists were not the gangsters or triad boss but clean and sophisticated professionals armed with the best medical degrees from the best medical universities. And if the potential victim happens to be suffering from a critical illness, it is as good as hearing the catchphrase, 'money or your life' being repeated. And they are not asking for a few dollars. It can be in the hundreds of thousands, or several hundred thousands of dollars. But there is a big difference between the gangster's demand and the demand by the professionals. After paying the gangster, the victim walked away alive, though a bit shaken. In the other case, they may go home in a casket after paying the huge ransom. There is no guarantee that after paying the money asked for that his life will be safe. Money or your life, or maybe money first, then we see how it will go.

S Chips in the news for all the wrong reasons

Well, after warning about the corporate governance and trustworthiness of S Chips, finally the old media is catching up on this act. Two reports, one in the ST by Yang Huiwen and another in Today by Conrad Raj, posed the same concern about the dangers of playing with S Chips. At the rate the S Chips are turning turtle, just give another couple of them going into the rubbish dump, I think it will be enough for the investors to dump them completely. They are looking to become so wild, as wild as the days of Malaysian Clob shares. Be warn. Tread with care. We have very little control and knowledge of what is going on. For those who are not in stockbroking, S Chips refer to Chinese stocks listed here. Now the there is a new version of this which refers the S Chips to Scam Chips.

The ingenuity of Wall Street thieves

They knew that the outrageous bonus game is over. So they have come to terms with it and decided not to pay huge bonuses any more. But pay themselves well is something that they must do, by hook or by crook. Their new game plan is to pay out front. They will raise the basic pay of their CEOs and senior management by as much as 70%. So a CEO who is getting US$180k will have his basic pay raised to $300k. This kind of robbery is only on the personal side. At the corporate level, they have been hookwinking the Obama govt that all of them are going bust without a bailout of several tens of billions of dollars. But the moment the Fed decided that they could not pay indecent bonuses when receiving govt bailout fund, they started to tell the govt they don't need the money, they are starting to make profits, and one even want to return the govt money immediately. These are the exceptional talents of Wall Street. We must be salivating to welcome them on board as shining examples of out of this world super talents. America main street and Europe need a revolution to rid the country of such thieves.

The shifting timeline

We are still hearing complains that above 40 years need not apply for jobs and these relatively young and healthy people are getting angry and desperate. I call them young and healthy because the timeline has changed and many are not realising this. Today's 40 is yesterday's 30. And many of them are having kids in primary schools. So far the only organisation that is taking this into consideration is the civil service. More and more civil servants are working past 60, with some noticeably past 70 and 80. Why is it that the private sector is refusing to acknowledge or recognise this shift? In the 60s and 70s, people get married at 21. Today the marrying age is 30 or 35. Then people retired at 55 and died at 60. Today people die at 80 or 90 but retire at 55 with a few exceptions. Then people started to work at 16 or 18, after O or A level. Today they start work at 23/25 or later, after university and NS for the guys. They used to make babies at 18 or below 20. Now many only do this after 30. The anomaly is now a reality. The prime of a person's life is 60 and he/she can go on to 80 or 90, another 20 years to go at least. 30 is still a child wet behind the years. With improving living condition, food and health, and medical careful, people are definitely healthier today than yesterday. When will the human resource practitioners and employers understand this shift in timeline and adjust their expectations? Perhaps we are in a state of transition. The first batch of healthy 60s will come from the baby boomers, or maybe the later baby boomers. Or shall we bring out all the million dollar 'Yodas' in the public and private sector to prove this point? They are many of these hiding in their top floor or penthouse offices and calling the shots, still alive and kicking in their 70s, 80s and perhaps 90s.

The business of keeping people alive

Mediacorp had a few news clips of the happy senior citizens in the homes or community hospitals over the weekend. They appeared healthy and enjoying every moment of their time alive. What they did not know is the heavy cost to keep them alive. From the look of it, the cost was paid by their children. Obviously they did not know that they were bankrupting their children or straining their financial resources just to keep them there. It is not cheap definitely. Ignorance is bliss but not for those who have to struggle to pay the bills. One is deemed financially able to foot the bills if the household income is above $1,500. Unbelieveable! Khaw Boon Wan has been in charge of the MOH for several years and have been working very hard to keep medical cost down. How successful has he been? Has medical cost come down or still spiralling up? The recent increase of fees in community hospitals is a testament that the cost is just going up. For those who are still healthy, pray not the day you have to be admitted to any hospitals or nursing homes. Many will not be able to afford it even with their Medisave and medical insurance. Some of their savings may not last even one month when the bill can go to tens or hundreds of thousands. With the high cost of hospitalisation and medical fees, everyone who is sick or ageing is a walking liability to himself and the family. And we celebrate for being able to keep people alive to 80, 90 or 100 years.

How to juggle accounts for a bigger bang?

This incident is still vivid in my mind. Quite many years ago I came to know of this group of companies and how well they paid out bonuses according to each subsidiary's performance. Some averaged 3 months some averaged 6 months and the exceptional ones got 12 months. All looked clean and fair, according to the books. Indeed the payout of bonuses was according to the book, actually according to the cooked book. One of the subsidiary companies actually cooked the book, brought in all future sales, WIP, etc and recorded as realised revenue and profits. That year the company was like boomtown Charlie. Every employee got 12 months bonuses. Not sure how many months the CEO and the top management staff got for cooking the book. What happened the next few years, never mind. The boat will straighten as it reaches the bridge. If the next few years lose money, take lesser bonuses. But one good year every now and then is good enough. For good years, the reward is amazing. For bad years, no sweat, the pay is still there. And if the company goes bust, just too bad. Find another company. This is the beauty of being in the corporate world and managing public companies, and being an employee. You never stand to lose your capital nor your pay, except if the company closes down. But when the company chalks up big profits, take as much as you can. Claim all the credits despite the fact that a large part of the profits were money makes money. Does anyone ask how much profit should be generated from the capital invested before talking about the excess profits? As an example, if the company has an asset of $1b, assuming that this money should give a decent return of 10%, given the risk in business, otherwise park in the bank for guaranteed risk free interest, a $100m profit is just about acceptable. Nothing to crow about. Only when profit is in excess of 10% would it be considered a contribution from the management and employees. (Not counting cooking books) It is not uncommon for management of a $1b company to crow about great profits and demand big bonuses even if the profit is less than 10% of the asset and capital invested. Another common practice by hedge funds or fund managers is to measure their performance with market indices. If they perform better than such indicators, they have done well, and need to be rewarded. Thus if everyone is losing 70% of their investment and if one is losing 60%, that one has done well. Clever accounting and clever logic.

Singapore United the way to go

This is the new war cry of Hsien Loong. He is calling on Singaporeans to work together to find solutions to the crisis. How real and relevant is such a call? The work together may be a bit real as everyone has to work to keep the machine running, the economy running. If everyone just plays his part be it a cleaner or a minister, things will continue to move. The part about finding solutions to the crisis is best left to the super talents. How could the less able be in a position to find solutions when the greatest minds in the US are still fumbling along? Even if they have any small ideas, they will quickly be brushed aside by the supertalents. They will be a laughing stock to have the audacity to suggest a solution to such an immense problem when supertalents could not resolve. And if assuming that they could get the idea across, make known to the supertalents. Oh yes, they can write to ST Forum or to Reach with their great ideas. I rather be real. Every one just do their parts well. Let the cleaners do the cleaning and the govt do the governing, the thinkers do the thinking. Hey, this is very Confusion, oops, Confucian I mean.

If looks can heal

I saw this beautiful structure in the Sunday Times this morning. A lot of glass, reminding me of the futuristic glass complex proposal for the Sentosa Casino. Very impressive looking building. This one is actually an artist's impression of the New National Heart Centre. It boasts of great facilities when ready in 2013. What keeps capturing my attention is the fine architecture and the feeling of being in a futuristic and well designed building. It is a great feeling. I think the patients would feel good too, and their hearts will feel better even before any medical treatment. I hope the building design was selected not just on good look but with cost consideration in mind. Otherwise, the cost of building such a great facility will ultimately be carried by the patients' bills. Nice building, and I already have this good sense of well being.