Independent Director jailed

This is the first time that an independent director was jailed. In the past they simply resigned and disappeared when trouble was brewing. That was an easy escape route for this profession. Would this jailing of independent directors be a signal that collecting director fees is not going to be a cup of tea and independent directors will now be held accountable and be put in jail if they failed in their duties? I really hope so. Oh some are crying foul, $50k or $60k not enough to risk being jailed! My two big balls! If one is doing his job well, there will not be any jailing and $50k or $60k is a big sum of money. And some even claimed that there is a shortage of independent directors. Really, just because some are sitting in 8 or 10 boards? The fact that people are rushing to grab as many independent directorship as possible is proof that it is a very lucrative job and many people are willing to do it as a full time job. Now part timers are aplenty, hoarding 5 or more directorships and pretending that they are able to cope with the demand of the job and its responsibilities. Let’s be serious, and make this a responsible profession and independent directors be made to work for their keeps. Imagine some could be taking hundreds of thousands and quickly resign the moment they see trouble coming. This is making a mockery of the system and the good money paid. If nobody wants to be independent directors because money not enough and risk too high, just let me know and I will be able to recommend to them qualified professionals who are more than willing to do the job, including your goodself.

From oversupply to undersupply to…

With all the best talents, with all the planning, pre emptive policies and targeted response, the housing market has been swinging like a pendulum, from over supply to under supply and to stop gap measures. Is this how the housing of the people should be managed? Over built and under built seem to be a norm because supply and demand are fickle and unpredictable. This all boils down to the meddling of a public housing policy to house the people to one that turns housing into a commodity for trading and speculation, responding to market forces with different objectives. When the supply of public housing is determined strictly be demand and trying to anticipate demand and not to provide a home for the people, this is what we get. Public housing is not only an economic consideration, it is a political issue and cannot be simply decided based on profitability and market forces. A 10,000 unit over supply is a problem that should not be from the start. Why, how could it happen? But having a situation that there is completely no available stock and to build only when there is a demand and be completed in 3 to 4 years down the road is equally disgusting as a public policy. Heard the latest stop gap measure that raises the income ceiling to $5000 for buying of 3 rm flats. The reason, to prevent these buyers from over stretching themselves and forced into buying more expensive flats that they could not service. What about those who happened to earn more than the commandment that $8000 ceiling is immovable and be forced into buying private properties and overstretching themselves? Is it alright to force those who earn a little more into the crazy private property market to be squeezed by the astronomical prices of private properties? Where is the responsibility to ensure that people should buy within their means and not endanger themselves by over committing? It is individual responsibility to manage their finances. But how can govt policy force people to over commit themselves with an immovable income ceiling that is already obsolete? Can we have another stop gap measure tomorrow to raise the ceiling for 4 rm flat and another one for 5 rm flat next year? Such piece meal changes are manifestation of not thinking through the whole problem and not looking at the big picture. Can someone remove the blinkers please.

The Dance Floor

Two couples dancing away.

Why no interest in Jasmine Revolution?

Peh Shing Huei, ST’s China Bureau Chief interviewed several Chinese and was disappointed that most were just not interested in the call for a Jasmine Revolution in China. In a way a revolution is fun, as long as it is happening in someone else country, and other people’s blood are flowing. Many anglophiles and western biased Chinese analysts would love to have a Jasmine Revolution in China. For the ethnic western journalists, no need to say, for a China in disarray is a good thing. Why would the Chinese want a revolution at this point in time when China is on a roll? China has risen like a phoenix from the ashes. Yes there are problems, but the problems are miniscule given the enormity of the problems when China was a poverty stricken state when being a Chinese was a shame. During those dark days, many Chinese probably wished they were not born and wanted to be Europeans. Some Chinese today still want to be Europeans. But the number is dwindling. There is great pride in China and in being Chinese. China and the Chinese are positioned to upstage the Americans in a matter of time. Why would the Chinese want to kill this golden opportunity, to turn their country upside down, and to be conquered and treated like pariahs by the westerners one more time? No doubt there are still some silly Chinese who had a few hamburgers too many and think that China should succumb to western pressure and be a failed state. They are praying everyday for it to happen. The Chinese in China must not make the same mistake and destroy what their govt has done over the last 40 years. They have done everything right with some exceptions which are more of failings of individuals rather than the govt. Would the Chinese be stupid enough to listen to silly overseas and local Chinese who advocate them to destroy what they have built today? If China would to be messed up today, it will never be able to stand up again for another century. And some of the western minded Chinese will be most happy. And they will call themselves John Smith wherever they go and proudly announce that they don’t understand a word of Chinese. And being Chinese would once again be a shame.

Dictatorship of a political party

A dictator controls everything in a country, the people, resources, finances, power and ideas. A political party can also behave like a dictator, controlling everything in a country. Have we reached such a state? I was reading Tharman’s reply to Low Thia Khiang in Parliament and I came away with the feeling that everything he said was true, right and the best for Singapore. He and his team had thought through everything in detail and came out with the best solution available. ‘There is more than enough for lower and middle income households in the Grow and Share package in this year’s Budget to tide over this period of high inflation.’ Period. Believe it or not, agree with it or not, like it or not, that’s it. That’s the final answer. ‘A retired couple is likely to see their costs of living increase by $400 this year….A three generation middle income household’s living expenditure for the year is estimated to rise by $1,850….’ Undisputed hard numbers and hard truths. And the GST issue… The current system is the best. The other variations, permutations, modifications, are either not effective, bad or too difficult to implement. GST is not regressive taxation. Next please. And despite all the questions and questions, the answers given by Tharman are all the answers that will be given, and that’s it. The party has all the correct and perfect answers and solutions to all problems. Do we need another alternative party or alternative voice? As for the dictatorship of the party, we are not there yet. At least there are some who acknowledged that they did not have the monopoly of ideas. They only have all the answers.

Like a prostitute

This is exactly what a truly free economy is like. Offer to anyone who has the money to pay for it, citizen or non citizen, good or bad person, no question ask as long as the party is willing to pay. The door is always open, and so are the legs. There is no consideration about right and wrong, about morals, obligations, loyalty and responsibility. A prostitute is only responsible to provide a service to satisfy the customer and collect her keeps. Period. Please don’t ask the prostitute to be nice. A prostitute is only nice to the one with the dole and for the moment. Do not bother about charity from the prostitute. Her mind set is that if she can offer or sacrifice herself, everything, pride and dignity, to earn that dollar, you better take care of yourself. Can prostitution be an honourable alternative for the viability of a state? I mean figuratively of course. Is our country just another prostitute?

Tampines uncut

Tampines GRC is one of the few that were left practically unchanged in the redrawing of boundaries. Might as well since any redrawing does not give the PAP any advantage over the opposition, be it Tampines or anywhere else. However, Tampines presents a very interesting case for speculations given the opposition’s assessment that it is one of the very likely GRC to fall. Then why is Tampines left uncut? Would it also be that Mah Bow Tan will still helm the GRC in the no horse run race? Assuming that it is a win or lose situation, what does it mean? One possibility is that the housing problem is already resolved by all the remedial accelerated housing programmes. The house hunters, especially the first time owners, must have been appeased and their housing needs taken care of. So it would not be an election issue any more. Tampines is safe. Another possibility is that Tampines will be the sacrificial lamb. Well, if the reading is that some GRCs will fall, might as well let Tampines go without too much hustle to redraw the boundaries. It is already too far gone. Let there be no complains from the opposition that its boundaries were redrawn to protect the ruling party’s interest. It looks like a pretty fair proposition, boundaries intact and the GRC team intact, maybe with one or two changes for renewal. And Mah Bow Tan is going to dig in and defend his turf like a man. My guess is that Tampines will go to the opposition unless they fumble again in the last minute and got themselves disqualified. Pray no such idiots surface to overturn the apple cart. Why am I feeling so nervy that this is gonna happen?

WE, the People of Singapore….

The PAP’s election campaign is on. And it is there to tell the people how good the party is, how well and how much they have done for Singapore, and how good is the caliber of their candidates. This must be expected as all political parties will want to blow their own trumpets. And, if the PAP has its way, it will want the people to vote all 87 PAP candidates to Parliament. They are saying it all for their own good. The opposition will also sing their own songs, on how they could contribute to the country when elected. They will tell the electorate how important it is for the opposition to be represented in Parliament to speak for the people, to speak and to offer an alternative voice. All the reasoning has been rehashed over the years, over every election. What else is new? What is new or can be new is ‘We, the Citizens of Singapore…’ Yes, we, the people of this country must know what is good for us. Every political party will be thinking of what is good for themselves first and then the people. We, the people of Singapore, must think for our own interest first and foremost. Only WE, the people of Singapore…. will know what is good for us, not someone says so. All the political parties have their own agendas and think of themselves as first. We, the people of Singapore… better do some thinking now, and do what is right and good for us. Yes, US, and not other people or political parties, US, and vote wisely, for our own good. Don’t believe anyone telling you that they are doing it for your own good. We know, and have bad experiences, many bad experiences, when people tell US that they are doing it for our own good. We are the people of this country and must decide what is good for this country and for US and our children. The election is for the people to elect who the people think can serve them better. Let’s make it happen.

Global Warming - Temperature Rising

My latest creation on Global Warming, showing how the fishes melt under high temperature. A larger version in my Art of RAR blog.

When the right ball does not know what left ball is talking

When this happens, someone can go on screwing everyone. Ok, kopitiams and hawker stalls, do not anyhow raise your price, it will lead to higher cost of living. Inflation is the most dangerous beast lurking in our midst. The worst bugbear is housing. Look at the lovely prices in the sky and all the happy developers and speculators, and HDB owners! Now who is aiding the high prices? Would the hike in worker’s levy raise the cost of housing? Maybe not. Who knows, nobody I think. It is very difficult to understand building and construction cost when no numbers are available. Will the hike in redevelopment fees for properties raise property prices? Definitely no. There are unrelated, two different things. The high cost of housing is imported, imported together with foreigners coming here to work and to be residents. And also the high cost of materials, definitely beyond our control. I am still trying to figure out why property price is still rising. Maybe I am really dumb. After so long still unable to find out why.

We need more Chee Soon Juans in Parliament

Chiam See Tong may be able to anchor a team to win a GRC. I hope he delivers. But what is badly needed in Parliament is more Chee Soon Juans. Personally I think he is the most wronged person in politics. He has given his all, his career, his family and his life to politics, to serve Singapore. If this is not sacrifice, what else is? It is time that the people appreciate his contribution and give him their votes to bring him into Parliament. Having one Chee Soon Juan is not the end as a lonely figure in Parliament is not a joking matter. He could be drowned by laughters, and that is all there is to keep him on the defensive. He needs a team of several Chee Soon Juans to stand up to the wolf pack. And a few Chee Soon Juans can only do good for the people of Singapore. There is a need for an opposition voice, a real opposition voice, in Parliament. And if there is a time for it, this GE is the best opportunity to make it happened. The set back in the Reform Party must be taken in its stride and the best of the opposition must be given a chance to represent and speak for the people. Without an opposition voice, we can expect more of what we have already knew, and more akan datang. More of everything is affordable. No matter how good a solitary ruling party is, I think by now the people are wiser and know what is for their own good. A bigger and louder opposition voice is begging to be represented and heard in Parliament. Our first world country with first world political and economic system, with first world citizens, now with more foreign talents becoming citizens, more first world, must surely be able to withstand the presence of a few more opposition members in Parliament. Not the NMP or the NCMP kind. It would not collapse. If it does, like sand castle, then it is not worth keeping. We need a more resilient and durable political system that can last.

Tragedy of ignorance, irresponsibility or plain stupidity?

Lily Neo related this story of a 45 year old jobless woman. She has ‘five children aged 9 to 20 and a grandson living in a two room rental flat. She remarried recently, but her husband is also unemployed. The sole breadwinner is the 20 year old son, who has primary school education and earns $650 a month doing odd jobs. Her two daughters aged 9 and 12 are not doing well in school. Her 13 year old son has dropped out. And her 18 year old daughter has a 5 year old son.’ In the 1950s or earlier, in a rural environment, life will go on just like the border towns of Thailand/Myanmar/Kampuchea or in some parts of third world countries. The people live off the land, build a hut with some leaves and called it home. They will survive without education, with little food and little needs. In the 21st Century, in the heart of a big city, you cannot live life that way. Everything costs money, rentals, food and all the basic needs. Why is such a thing still happening in our society? Who is at fault? How much can the govt do to help these people? Are such tragedies avoidable? Just ponder. These people have the right to live, make love and procreate. Can anyone say they need to have a COE for doing such basic things? Can any govt take tough measures against the right to live, to make love, and to procreate? Is there a solution? Is there a problem in the first place? If we cannot recognise the problem, then there is no problem and no need for a solution. If we do not know that there is a problem, better still, no problem. Where is the ostrich?

This is home, truly…

Is Singapore a home or a hotel? The traditional understanding of a home is a place where one grows up and has many fond memories of, old places, faces, smell and a lot of stories to feel nostalgic about. It is about belonging, a familiar place to touch base. The features of modern living and being Singaporeans today are about change. Everything is changing, from the infrastructure and road maps to the faces of people on the street, the odour and the sight and sound, never the same before. We have people moving in and out of the island, citizens become non citizens, non citizens become citizens. We move homes like changing clothes. All the memories of childhood were wiped away for development and progress. The moving and changing even goes down to being a part of a place or constituency. Today part of Hougang, tomorrow part of East Coast, then become single wards, then GRCs. Today serve by this MP, tomorrow by another. With all the continuous changes in our lives, from the familiar to the unfamiliar, can we really feel that this is home? No wonder they are saying that as a nation, we are still a work in progress, starting all over again and again. Our roots have very few things to anchor on. Our friends were always new, our neighbours new, our MPs also new. We are less than 50 years old, and our accumulated past have already been wiped away by economic and progress. This is home, truly? Work in progress?

How could Singaporeans be not grateful?

It has never occurred to me that a medical bill can go beyond a million bucks. (Ok, I know I am not living in this glittering world). It was shocking to hear that it could be $24.8 million. I was always shaken by a $20k or $100k bill. It only shows how ignorant I am in the world of the very rich when paying a few million bucks is nothing. Singaporeans who have to pay $100k or $30k for a medical bill must be grateful that it is such a small sum to pay. And those who kpkb about a 5c hike in transport fare or a 10c in kopi O, please lah, have a life. You people are not worthy of living if you have to kpkb about such trivials. The $24.8 million bill must have awakened many people that their lives are actually not worth living. How could people be spending that kind of money as if money is nothing? That is another point. Next time when one got admitted to our world class hospitals, privatized or whatever, don’t complain about the bill. It is very cheap. And be very grateful to ministers who have to give up their lucrative medical careers to serve the people and country. For doing that, they are sacrificing a career that could mean several millions of income per month for a $3m annual salary. Be grateful and be thankful that we have such good people making such big sacrifices. And also be grateful that the minister is trying to raise your savings in the Medisave account to several hundred thousands. The reason now is obvious. Medical bills in privatized govt hospitals are cheap but can still be in the hundreds of thousands. The current minimum of $33k or there about are simply peanuts. Definitely not enough! Be appreciative of the govt helping to plan for you to pay your medical bills when you least expect it. The masses may be ignorant and not thinking, thank god the govt is thinking for them every day, for their own good. Singaporeans are indeed a lucky lot.

The Grand Old Man of the Opposition

Whenever I look at Chiam See Tong and his physical condition, I shook my head and quietly told myself that he should retire from politics. Then I read these comments from him when asked why he wants to continue in his condition, I understood. These are what he said, But you know, this isn’t a hard job, he said.. In fact, it is harder to bring up a family with little income. It is harder competing for jobs with foreign talents. It is harder to look after a disabled child, or an elderly parent It is harder to afford hospital bills for your family. These, are hard jobs that Singaporeans are facing. And it will get tougher. He is doing it for a cause, to want to do something for the people. With all the odds and physical limitations, he is struggling to fight another fight which is no easy thing to do. He is the Grand Old Man of the Opposition, a man with a mission for the people of Singapore. He walks his talks. Good men are rare to find. He is one of the few left. He never claims to have sacrificed anything. He just do it. What a man!

When supply and demand are not elastic

The basis of a free enterprise economic system is based on the elasticity of supply and demand. And there must be plentiful of supply, ie choices, and plentiful of demand, ie people can afford to buy whatever they want. Without this elasticity, a free enterprise economy is doomed for self destruct. Today we are seeing more and more evidence of what an uninterrupted and skewed economy can become a living hell to many and heaven to a few. Hey, isn’t that a truism, that only a few will be in heaven and the rest be in hell? Take drinking water as an illustration. If the supply of drinking water is controlled by a mean owner, he can literally sell a cup of drinking water at $100 or at whatever price he demands. Everyone kwai kwai must pay. It is only the wisdom of time that govts of today imposed regulations on the distribution of essential and basic goods and services. Of course the temptation of free enterprise and the grostesque profits it can make often proved too tempting that devious reasons were used to perpetuate free private enterprises. The mantra of market forces know best and are best for buyer and seller is the wisdom of today. This is the biggest myth that the masses have been led to believe. For many economies, or many goods and services, the perfect market condition is just not there. The result is abuse of the free enterprise system. There are times when control and regulations must be imposed, with good intention as a prerequisite, to ensure a fair and equitable system for the people in general. A time has now come to upturn the concept of property speculation in a small piece of rock. Properties cannot continue to be speculated simply for profit basis. It is an essential piece of basic needs and must be heavily regulated. Unrestrained property speculation for profits only benefitted the few who will get richer at the expense of the larger majority. Making matter worst is that foreign speculators in the name of investors, came in to profit and disappear with their gains and leaving the locals with a baby that becomes a heavy burden for life. The madness of property speculation, of property as a good investment, has transformed itself into a dangerous animal to the demise of many average home owners. With so many negative factors that will only contribute to higher and higher property prices, a fundamental change in housing policy must be looked at now. It is no joke when a person has to work his guts out, for the rest of his life, just to have a roof over his head. It does not make sense anymore.

A second career in politics

Gilbert Goh has joined and left the Reform Party. Heard that he is now with another party. People like Gilbert, in fact there are many professionally trained and experienced people who have retired or in between jobs, should take up politics as a second career. The experience and wisdom they bring along after years of hard knocks will give them a more mature perspective of the expectation of life and what they can do for the people. And many of them are very able and could do much instead of waiting for another job. A politician is a full time job, a career and a worthy one, and a worthwhile one as an occupation. What are they waiting for? Get together some like minded people, ten or twenty and that will be a good start and nucleus for a new political party. Joining an existing political party is easier but it means accepting all the culture and history and philosophy of that party. Starting a clean slate with some people one knows better is more desirable and easier to move on without any old garbage. The young retirees are at the prime of their lives and have many more good years to go. What is there to lose when there is so much to gain?

Of moles and conspiracies in Singapore politics

The latest break away in the Reform Party saddens those who are hoping against all hopes that a reasonably able alternative party could appear in the next general election. The longing for a stronger alternative voice in Parliament was seeing some light at the end of the tunnel until this happened. Some able and young aspiring politicians quit, and in so doing dashes the hope of a good contest in the GE. Many speculations were floating around as to why the break at this critical time. Conspiracies, moles, inept or personality conflicts or whatever, all breeds nothing good for the cause of an alternative voice. The most distaste reason, if it turns out to be true, is to have moles working from within a party to bring it down. The country deserves good people, people with integrity, to come forward to serve the nation. Good people, whether from the ruling party or alternative parties, are good people. Politics may be a dirty game to some, but it should not be made dirtier by people with lesser integrity, to play the role of moles to undermine another party. Good and talented people must have self respect and not to be involved in such roles for the good of themselves, the country and the people. It is not worth it to compromise one’s self respect and integrity to do such dirty works for any reasons. For the moment this is all speculation. I doubt anyone with some intelligence and dignity, and worthy to be a leader and a man, or a woman, would stoop so low to become moles. The conflicts in political parties are inevitable as different personalities and objectives are involved. For whatever reasons, the interest of the nation and the people must be above all else, and all private personal interests. Let’s pray that we will have good and decent people in the ruling party as well as the alternative parties to be leaders of the country.

The Good and Bad News of inflation

January’s 5.5% hike in inflation is the second highest in two years. If this goes on every month, the inflation for the whole year will be probably 3 to 3.5%. Pardon my poor arithmetic. See the good and the bad news? Inflation is good news really. The higher the better. It means that the economy is doing very well and people have a lot of money to spend and can afford to pay more and more. Look at the high property prices and the high COEs, where got problem. The queues are there everyday.. For property buyers, the higher the inflation, the longer will be the queue as they will make instant profit after every purchase. The price will shoot up everyday. Buying property will be such a wonderful experience. A commentator, couldn’t remember his name, said that this high inflation is already expected. So nothing to worry about. It is all well planned and managed. Looking at how comfortable and happy Singaporeans are today, we can actually use inflation as a measurement of happiness index. The higher the inflation, the happier the people. At least 80% of property owners (HDB owners) will be praying that inflation goes through their flat roofs and all can be instant multi millionaires. Good for the coming general election.

Amidst chaos there is a golden lining

The Middle East is in turmoil. New Zealand’s Christchurch is in rubbles with many dead or waiting to be rescued. The Asian stock markets tumbled with many incurring huge losses. Everything is looking bleak despite a people’s budget to help the lower income earners to overcome the inflation beast. But not all is lost or not all is bad news. I just read that there is a profession that could bring in a revenue of $24.8 m over 7 months of work. This works out to be roughly about $3.5m every month. Not bad for a job when compared to our ministers earning that in a year. Now I can even say that minister’s pay is peanuts. If there is any job that I wanna be, this must be the job, a surgeon. This is the bill Dr Susan Lim charged to her patient, a royalty from Brunei. The bill has become a controversy and is fully reported in the ST today. It was also reported that the final bill, after discounts and whatever, is now about a quarter of the original bill and still unpaid. Even at one quarter the sum of $800k a month is still a princely sum. All I can say is nice. I wish I could have such an income. I am drooling and all wet thinking of the bill. World class medical treatment will come with world class bill for world class quality of professional services. You want the best, be prepared to pay for the best. Is this a Guinness Record? A $8 bill for a heart bypass must be a steal. Please don't complain about how expensive our public privatised hospital bills are. Be really grateful.