BTO is anti family

A forum writer, Sim Siew Chien, wrote to the ST a few months back, complaining that the BTO scheme is detrimental to young people getting married and having children. She said many young people were forced to live separately after getting married as they have to wait for BTO to complete building their flats. Now whose fault is this? It is definitely not the govt or HDB’s fault. The young people must plan their marriages ahead. Why do they wait till they want to shit then look for jamban? So the wise men say or think. Getting hitch is so easy. With so many matchmaking agency, I also think so. Just place an order. The BTO scheme is the most intelligent, brilliant, and farsighted scheme thought out by the most brilliant supertalents we have. And they are not paid millions for coming out with stupid schemes. This is the best scheme they can think of. How could the low thinking public complain that it is bad? The public just does not have the brain to appreciate the beauty and brilliance of this scheme. It is unfair to complain about it. Just live with it. Just remember that it is the best scheme. It is the most efficient scheme for HDB. As for the people who needs a flat urgently, is it a good scheme? “My brother got engaged, but lost his engagement because he could not afford an HDB flat,” said Lim Zi Rui, the engineering student from NTU during Chok Tong’s dialogue with the students. For people like Zi Rui’s brother, very likely they would not even apply for a flat as they could not afford it. And they will not form part of the statistics to create a demand for BTO flats. No flats will be built for such losers. I am not sure how big is this pool of unable to afford to apply for HDB flats? Anyway, they are irrelevant and HDB need not sweat to build flats for them. Only those who can afford HDB flats need apply. This is the beauty of the BTO. No waste and everyone who applies will say the flats are affordable.

A little disorder is good

We have seen the loan sharks upgrading their skills and tactics in chasing after their debtors. From pouring paints onto doors and letter boxes, they have upped their ante by burning cars. I am wondering what kind of training they would get next to make themselves more efficient and effective. Burning houses? Then Downtown East, a Halloween style bloodied body turned out to be real. Our youngsters are having too good a time, and couldn't find any purpose in life but to form gangs and patrol shopping centres looking and staring at one another. And if the staring gets too intense, they will be fumed to want to gorge out the other's eyes. More and more fights between the young and their gangs are appearing in the news. Maybe this is a welcome change that we need, to throw the country into a little disorder for the new generations to appreciate what orderliness is all about. Or maybe this is the new fun that the new generations want. More blood and gore in the streets. And gangsterism is a new way of life, a return to the stylo 60s. How did these happen and grow unrestrained? Just like loan sharks, a soft pair of hands will be seen as incompetence and weakness and nothing to fear. And with a law enforcing force that is so well educated and well mannered, it is tough to face up with the toughies, a kind of mismatch. And there will be the goody and kind hearted who would want to protect the waywards and the criminals as pityful people that need help and protection, need to be saved. Welcome a little lawlessness.

Asean in Transformation

A gathering of small and medium countries, and wanted to be left alone, in peace, to develop their own economies and the lives of their people. That was what Asean used to be, avoiding big power conflicts and staying away from becoming proxies in big power rivalries. That was how ZOPFAN, zone and peace, freedom and neutrality came about. Today, Asean has grown bigger, economically, structurally and militarily. It starts to have wild ambitions, to start bickering with each other’s internal affairs and to challenge bigger powers, and ganging up with big powers to achieve its aims. Consciously or unconsciously, it has accepted the US as the de facto leader of Asean, doing away with its neutral status. Non alignment is no longer its mission. During its days of neutrality, Asean was able to grow peacefully, and also stayed out of big power conflicts. Today, it is inviting big power rivalry into the organization. It courts big power influence and protection to compete with other big powers. For that, it is willing to surrender its own leadership to a big power and become subservient or proxy states of big powers. Would this transformation of Asean lead the region into a state of turmoil and warfare? Has Asean really believe that engaging in big power politics and struggle of power and influence a desired development for the small and medium states? Has Asean grown a head that is too big for itself and wanted to play a bigger role in international affairs which it thinks it deserves? While Asean is being seduced by big power attention and bathing in the limelight, let Asean not forgotten what happened in Korea, Vietnam, Iraq, Afghanistan, and Pakistan. Dancing with the big bad wolf has a disastrous price to pay.

China involved in largest number of conflicts???!!!

‘China, significantly, has been involved in the largest number of military conflicts in Asia. A recent Pentagon report is unsparing: “The history of modern Chinese warfare provides numerous case studies in which China’s leaders have claimed military preemption as a strategically defensive act.’ It then went on to quote the Korean War, (the world knew who brought the war to China’s border), the border war with India in 1962, ( and yes, who started it?), with the Soviet Union, to reclaim lost Chinese territories, and the war with Vietnam, (again, who started it?). China involved in the largest number of military conflicts in Asia? What about the Americans? The professor never heard of the USA? Matilah has this to say, ‘Meanwhile since the 18th century, America has been involved in 200 or so "armed conflicts" all of them overseas -- in "OPC" - Other Peoples' Cuntries.’ Anyone bother to count? Starting from the Korean War, Vietnam War, the Middle East, Europe, not counting Latin America and Europe… And the claim that China is involved in the largest conflict came from a Brahma Chellaney, professor of strategic studies at the Centre for Policy Research in New Delhi. What kind of academic integrity does he have when he can’t even count or refuses to acknowledge the great involvement of the Americans in military conflicts. The scale of the wars waged by the Americans, in any one of them is thousands of times more severe and destructive than all the conflicts the Chinese were involved. And this foolish article titled The Chinese conundrum, appears in today’s Straits Times. By the way, how many military adventures have India been involved since it became independent? How many times had India fought with its neighbours and the little islands in the Indian Ocean?

What’s so great about the Singapore Spirit?

"When I was younger, I was very proud of being a Singaporean. But that was about five, 10 years ago. Five years later, with all the changes in policies and the influx of foreign talent, I don't know what I'm defending anymore. I feel that there is a dilution of the Singapore spirit in youth... We don't really feel comfortable in our country anymore." By Lim Zi Rui, a final year Engineering student of NTU The Singapore Spirit is something that we can vaguely remember as the thing that helped to build this city state. There are still fond memories being cherished by the young and old. Is it still there or it is gone? Or it is no longer good enough, that we need the new hungrier spirit of the new immigrants to save us, to give us a kick in the back to wake us up? The official wisdom today is as good as saying that the Singapore Spirit no longer living in the young Singaporeans. We need more vibrant and enthusiastic and smarter foreigners if we are to move ahead. If this is the mentality, then many European countries will end up like the dinosaurs. The truth is that the well managed European countries are those that stay close to their own spirits and not those that are flooded with foreigners and with foreign spirits. The latter are seeing a decline in their quality of life, and chaos and social disorders are becoming a norm, threatening the very system that the foreigners came to benefit. If the fad of new and new spirits is anything to go by, there is no need to visit Finland to learn from them. The Finns don’t hunger nor pander for more hungrier immigrants to lift up their lives and economy. Simply, they don’t need new immigrants. They can make do with themselves and their own spirit of survival and do very well with their own people. They are confident of themselves and their own people. So, what is this Singapore Spirit? Is this something great or something that is best forgotten and replace with a new migrant spirit? Or is this a Spirit that runs down its own people as helpless and goners, and there is an urgent need to find a new Spirit to replace it? Shouldn't the Singapore Spirit be like the matured European countries, believe in themselves and their own people and continuously improving their own standard of living without having to hope or beg the hopeless and nothing to lose dare devils from the lost countries to mess up their systems and lives? When I referred to matures European countries, count England, France and Spain out. They will be destroyed by the foreigners they foolishly brought in.

‘Best losers’ guaranteed seats in Parliament

In his dialogue with NTU students, Chok Tong told them that our Constitutions have been tweaked to guarantee that the ‘best losers’ in a general election will still get to Parliament. At present 9 seats were provided for the losers. Is this a concession, a grace or an effective alternative to having opposition members in Parliament? What is the purpose of having oppositions in Parliament? Personally I do not want to be represented by losers, and definitely not losers that cannot vote when serious issues are at stake. Maybe other people will disagree with me on this. Some may just want to have an alternative voice in Parliament and whether they can vote on issues is not important. Some Singaporeans are smart enough to just want a voice but not to oppose the policies or rock the boat. A little kpkb in Parliament to let out some steam should be enough. After all the govt is doing a very good job and let’s not be too serious in having opposition members in Parliament. There is no need for real oppositions. Consider this as a pragmatic view from some corners of the masses. How many really feel it this way? If they do, then the govt has read the ground well. They may even provide more seats for more losers, as long as they cannot vote. But if this is not the desire of the people, would it make any difference in the coming election? Or would the next general election be a watershed election in more than one ways? Who needs losers by the way?

And we thought George Bush Jr was crazy

The woman was invited to the East Asia summit In Hanoi. Before she even warmed her seat she declared that she was the leader of the summit and she was taking over. And she lectured the Asian leaders on how their territorial disputes should be resolved, in her ways of course. Then she strapped a magnum .457 in between her tights, tugged another behind the back of the Japanese PM and turned to tell the Chinese that she had appointed herself as the mediator for the China Japan island dispute. She did not think the Asian leaders were capable of handling their own affairs and only she has the wisdom and leadership to lead them and solve their problems. The Empire strikes back with a joker. In an era when war between the two superpowers is obsolete, both nuclear and conventional, the Empire can no longer threaten China with the use of force. The silly war games of beach landing belong to the 20th century. Today, any hostile ships within a 200 miles radius of China will be sunk, the bigger the easier. This applies to aircraft as well. The immense fire and destructive power, the sophistication and accuracy of modern weaponry have made war a no option. War is only possible when there is a disproportionate balance of military strength between the two protagonists. Iraq is a good example. China should stand firm and not allow the evil Empire to dictate terms and think that it still controls the world. China should make it know that its territories taken by foreign forces through unequal treaties must be returned, that it will not honoured any treaties signed under coercion during the days of gunboat diplomacy. It is too polite to use such a term. It was a time of gangsterism in international relations when big powers plundered the weaker nations by threats of wars or wars. The injustice should be made right by the light of justice.

Turning greed on its head

Half a billion is small change to him. When people are buying fast cars as a hobby, he is buying football clubs. That is what money can do when you have enough of it. Peter Lim did not get his Liverpool Football Club. It could be a blessing in disguise. He has just acquired Thomson Medical Centre for half a billion bucks. This in all sense is a much more meaningful buy. And he could make it more meaningful to himself and to the people in the streets. Peter Lim is getting close to a state like Bill Gates and Warren Buffett, though still far away, but he could still uttered, huh, another $500m profit, what shall I do with it? He is comfortable enough that another half a billion is not going to make him a different person or to excite him. So what is he going to do with his new acquisition? To make more profits, to live the Singapore ethos that profit is everything, or to live the Gecko mantra that greed is good? Could he turn the Medical Centre into an institution to benefit the people at large? Medical cost is spiralling up like housing prices. Of course it need not be if there is less greed. Here we have a man who does not need any more small change of half a billion. He could be another philanthropist in the making. What Singapore need is a no frill hospital to serve the people without breaking their bank account for every admission. We need a hospital to make a point that medical and hospitalisation fees need not keep going to the sky. Would Peter Lim answer to this higher calling, that making money and more money is not the only reason to live? That money shall be made to good use, that one’s good fortune can be share with the common folks and the less fortunate. No one is going to begrudge him should he take the conventional path, to turn it into another successful business enterprise, and making more money for himself. And one day he will join Gates and Buffett, to give the money away because he just have too much of it.

Temasek Review, New Temasek Review

I thought Temasek Review has changed its name to New Temasek Review. I am pleasantly surprised to see the original name reappears again. This is a good sign.

The USAS

The hysterics were unbecoming. Who would expect the Australians to behave like third world countries and kpkb just because some entrepreneurs saw a good opportunity to raise their bets in the merger of the two stock exchanges? The Australians are behaving and jumping around like some of our neighbours, rearing the ugly xenophobic face of little townfolks. Can any of the politicians see any good in the merger? The benefits that can spew out of this venture are tremendous for both sides. For Singapore it is obvious. We can break out from the constraints of a little dot with Australia as our hinterland. We can proceed from here towards a greater economic and social integration, a kind of United States of Australia and Singapore. Of course, political integration is something that we shouldn't talk about at the moment. This will release a lot of pressure from our system, particularly the constraints of land, which is self inflicted in the first place. More Singaporeans can move on to the big island and relieve the pressure in the property bubble. Provided the thick heads did not stuff in more foreigners here to replace them and everything back to normal. Our dependent on food supply will be solved with the agricultural products from Oz. The advantages are enormous and can fill the pages of a library. Same for Australia. We will help Australia to effectively plug itself into Asia, as a member or extended member of Asean. The dynamism of this little dynamo can be infectious, and together with the liquidity here, it will be boom town Charlie for Australia. Growth will be everywhere, in all sectors. The Aussies can continue with their laidback lifestyle and enjoy the boom while the Sinkies will do the donkey work for them in developing this big island. Win win huh. The USAS is still the longer term goal and not far fetch. Australia, New Zealand and Singapore have been cooperating for 40 years in the 5 Nation Defence Pact. We have a similar history and colonial system, and colonial mentality. I think Singaporeans would welcome the chance to sing God Save the Queen once more. And Peter Lim can buy Liverpool and be welcomed as one of time. In fact we can buy up all the British football Clubs as well, once we become a part of Australia. Then we can bring the English Premier League to play in the Golden Triangle of Singapore, England and Australia. The possibilities are unimaginable, starting from just this humble begining of a ASX-SGX merger. Think about it mate.

Obama and his new hunting dogs

I read in the New York Times that Obama has acquired three new dogs to do his bidding and will use them, together with Japan, to contain China's growing influence. The eager beavers are so elated after being wined and dined in the White House and being 'consulted' by the Empire that they are thinking that they are part of the Empire. Other containment efforts by Obama, despite the empty Treasury and a mountain of debt, are the expansion of military base infrastructure in Guam in the Pacific Ocean and the island of Diego Garcia in the Indian Ocean. The beefing of all these military bases serves only one purpose, to entrench America's presence in the guise of defending the free world, but actually to contain China and protect American interest. There is a neo colonialist agenda in the American Administration and the old colonies, British, Dutch, French or Americans, were jsut too happy to be part of it. Asia can expect heighten tension and possibly proxy wars between America and China, but with the two protagonists looking from the sideline. And smaller Asian countries will gear up to kill each other or at least spend more on American weapons to provide more employment for the Americans.

$8 for a heart bypass!

Khaw Boon Wan said his bypass surgery which normally costs about $30k in an A class ward ended with him paying only $8. That is cheaper than buying two packs of panadol from a pharmacy. He claimed that he had Medishield and topped up by a supplement medical insurance. Knowing miserly is the payout from Medishield, with co payment, I am very interested to know the break down in his medical bill and how much each of his insurance paid for him. Let us have a peep on the details, Boon Wan. And also let us know how much premium you are paying for the Medishield and the supplement insurance. If it is meaningful and makes financial sense, I think many people will like to have the same insurance coverage. Thank you.

Australia unmasking its racist face

Just listen to the polemics made by the opposition to SGX acquiring ASX and you can see the truth behind the noise. As a business transaction, it is a great deal where both parties will benefit. The Australian investors are the first to benefit in a big way, they could actually cash out and still own a big chunk of the new ASX-SGX which I thought should be renamed SAX, short for Singapore Australia Xchange. It also sounds more sexy. For all the accusations, which is the standard tactics employed by the West against Asians or their enemies, to point the finger first and let the victim to defend himself can Australia hike from its true nature? In the process the victim will forget about the accuser's own imperfections. For a country that prospers after centuries of racist policies, abuses and discriminations against the local natives, Australia should be shameful of itself to talk about human rights and freedom. This is a smaller version of the Americans. The biggest arms merchant in the world, the most highly armed nation, the greatest currency manipulator, the biggest violator of human rights, not just the past in the form of genocide and slavery. Just think Guantanamo, Abu Graib, Afghanistan, Pakistan will do. If one still did not get the picture, go to Wikileaks. The Americans are the worst warmongers in modern history, starting wars and fighting wars and with a huge industry that thrives on wars, providing employments to its own people and soldiering. What else does it possess and do that is anti humanity and against world peace? But it keeps pointing its finger at China and other countries for all the above violations when it is the number one culprit. All the wars and tension in the world today is caused by the Americans. Yes BSE, blame somebody else, and think that the world will be stupid enough to believe them. It is always other people's faults.

World highest home price appreciation

According to a report by Knight Frank, Singapore's home price appreciation is the highest in the world at 37%. China came close at 36.8% and Hongkong was a far third at 24.9%. This is the best news for property owners and property speculators. It is time for celebration. Singaporeans are getting richer by the day, with their properties hitting new highs. Many public housing owners are really millionaires in their own right. Don't be surprised the taxi driver driving the maids and foreign workers around is a millionaire himself. This will be another first for Singapore with millionaire taxi drivers. More important is to go out and grab another property fast. Property prices here can only go one way, up and up and away. And there is no fear of a property bubble forming. Singaporeans are wealthy, and according to all the reports, the properties they bought are all affordable and within their means. So there is no fear of bankruptcies and foreclosures. And those foreigners buying properties here are filthy rich and mostly paying cash. So very little risk of loan defaults. What else, even land for public housing are only awarded to the highest bidder, which means new housing can only be more expensive. And with land so scarce, and with the population going to increase further, one thing is guaranteed, higher property prices. And more than 80% of Singaporeans will be resting on their laurels, as they are all property owners. They are waiting for their eggs to turn into gold, literary. There will be millionaires all around, not only taxi drivers, but many of those taking public transport too. Basically looking right and left one is likely to bump into a Singaporean millionaire.

ERP rate hike

23 ERP gantry points will hike its rate by $1 come 1 Nov. Ford Road exit from ECP and Kallang Paya Lebar Expressways will now charge $4 instead of $3 for each crossing. Other gantries will increase from $2 to $3 and $1 to $2. With the hike, travelling in the expressways will be smoother and faster. The only problem is that the minor roads will be more congested as drivers trying to avoid paying the higher fees will be diverted to them. And once these roads become jammed, motorists will complain again and there is a high possibility that gantries will be erected in the minor roads to alleviate the traffic conditions there. This is a never ending musical chair game.

A buy out, sell out or a merger?

In very simplistic terms that a layman can understand, a buy out is done when one company pays another company, normally with a premium, and take over the other company, lock stock and barrel. In a sell out it is just the reverse. In the SGX/ASX case, SGX pays ASX shareholders a sum plus X premium dollars, and it ended up in a merger. So it is not a buy out and SGX does not take over ASX, or does it? In the case of a merger, normally both parties will make a valuation of the shares and use that as a basis to determine the number of shares each owns in the merged company. You don’t normally over value one against the other or pay a huge premium. Premium only applies to a buy out. The monetary consideration goes as follows. SGX values the ASX shares at A$48 a share, inclusive of a 37% premium. This will be paid in SGX shares at around 3.5 SGX shares for each ASX shares and another $22 in cash. That is what an ASX shareholders will end up with. After paying these shares and money, does SGX owns the new company and all of ASX? No? It is reported that the market cap of SGX is $7.86b while ASX is worth $6b. This deal is touted as a merger. An ASX shareholder will now own 3.5 SGX shares and still getting a cash of $22 or a total equivalent of 45% of the $8.2b payout. (Today it is reported as $11b based on the same A$8.4b) If this is so, this amount is enough to buy over half of the existing SGX shares in the SGX, which only has a market cap of $7.86b with some to spare. And the Australian share holders could own half of all the shares in SGX plus all the SGX shares in ASX. Am I wrong? What does SGX owns eventually after the payout, and what is the benefit to a SGX shareholder? If it is only a merger, then there is no need to pay a hefty 37% premium. If it is a buy out, I can agree to a premium though how big is the premium depends on many factors. So, is it a buyout or a merger?

Red Dot buying over Australia

This is perhaps the biggest taking over in history. A tiny Red Dot buying over Australia...well almost. SGX is buying over the Australian Stock Exchange and paying cash! All $8.2b to take over the Australian Exchange. What is $8.2b? This is chicken feed knowing the war chest in our hands. This is only the beginning. Next destination, New York Stock Exchange. Let's buy over all the major Exchanges around the world. I will consider this a major strategic move, like the buying over of some of the biggest banks a couple of years ago. Just make sure this time round the exchanges are not rotten apples like the banks, that were infallible but fell like coconuts. If the homework is done properly, and no cans of worms, this is a giant step forward for a little Red Dot. And it is good to think big. I have always been advocating the buying over of the whole of Australia, starting with North Western Australia, the nearest state to home. We are making a difference, eh. Matilah, you can't run away from little Red Dot. We will call Australia the Red Continent! And you can call yourself Singaporean once more. : )

Myth 225 - The myth of superiority

A Singapore ship was hijacked by pirates off the African coast! The pirates of the Somalian/Kenyan coasts are proving to be invincible. There is an armada of international naval ships patrolling the area, all armed and equipped with the best that money can buy. And the naval personnel are from the best military and technologically advanced countries today. They are also assisted by satellites, brilliant intelligence officers, radars, and manning round the clock to do just one thing, prevent piracy. And they failed miserably. Who are these super human pirates and what kind of stealth technology are they developing that can sneak through the most highly guarded military zone to continue with their piracy at will, anytime, any place at their own calling? The advanced military countries are literally held at ransom by these not so sophisticated pirates and could do nothing about it! What a shame, what a myth!

Political asylum for Assange

Julian Assange is now no better than a political dissident in the US and the Western world. His life and freedom are at stake. They may put a bullet through his head to end his works of exposing hypocrisies, crimes against humanity and deceit at the highest level of public office in America. China should offer political asylum to Assange and his team of dissidents, provide them with a safe sanctuary to pursue freedom of the expression, freedom of the press, human rights, and prevention of genocide through unilateral declaration of war and using myths or distorted truths as excuses. China, why are you waiting, when the US is harbouring all the anti China dissidents and promoting anti China verbiage through supporting their activities? Your turn to do the same, to protect the champions of human rights and press freedom and coercion from the evil Empire.

Celebrating Julian Assange

I reserve the column Celebrating Singaporeans for notable Singaporeans who have done something really worthwhile to be recognised. This is my little equivalent of an Award, The Redbean Award in recognition of contribution to human beans in little Red Dot. No, Julian Assange is not a Singaporean. But he and his friends have done something that is much more than another other human beans have done, and its impact can be felt across the world, transcending national boundaries, racial and religious barriers. Julian and his friends have taken on the world's most powerful evil empire disguising as the Empire of Goodness. The evil Empire has been lying by the skin of its teeth, claiming to be fighting for freedom, freedom of expression, human rights, the rights to fair trial, to be treated humanely and with dignity even as prisoners of war, and the right to live and choose one's own way of life. Yesterday, Julian Assange and his friends have released nearly 400,000 war logs of American deceptions and atrocities in Iraq. It is revealing a truth that only exceptionally motivated human beans would dare to do, taking own the mammoth machiney of the Empire. They are risking everything, their lives and freedom, to tell the truth, for a better world. They stood by the American Constitutions of Freedom and Free Press. They quoted this in their website. '3.3 Should the press really be free? In its landmark ruling on the Pentagon Papers, the US Supreme Court ruled that "only a free and unrestrained press can effectively expose deception in government." We agree. The ruling stated that "paramount among the responsibilities of a free press is the duty to prevent any part of the government from deceiving the people and sending them off to distant lands to die of foreign fevers and foreign shot and shell." ' In every chapter of human civilisation, when evil has taken over control of the human race, some exceptional men and women will appear to change the rule of the game and bring light to a world of darkness. Though Julian Assange and his men and women would not be deemed worthy of the Nobel Peace Prize Committee, only war mongers like Obama and maybe George Bush Junior were found more worthy, they deserve to be celebrated by the freedom loving people of the world.