A new kid in the blog - MIKOspace

This is a new blog, MIKOspace from a good friend. The url is www.miko-wisdom.blogspot.sg.
Have fun reading.

Outsourcing the way to Go

Pardon my pun, it is real. Outsourcing is the greatest discovery of Sin City and we did it so well that we can end up shaking our legs and don’t have anything to do. We first outsourced our banking answering services to call centres, then we outsourced the whole IT functions to foreigners. We outsourced our construction industry to foreign workers and our service sectors to foreigners as well.

Our foodcourts and hawker centres are also being outsourced, including our famous Geylang. All have been taken over by foreigners. Our beggars would also have been outsourced if not of our strict laws to prohibit begging. But the fun side of begging is allowed and outsourced, like busking.

Our top management jobs in GLCs and the private sector are increasingly being outsourced to foreign talents. Oops, some have become instant citizens with the issue of pink identity cards. Our universities are also outsourcing their professorships to foreign academics. Our Medical services too are being outsourced, from nursing to doctors and specialists/consultants. Our civil service is also gradually being outsourced. Oh, I forgot, we will also be outsourcing our tertiary students like we outsourced our sports talents. Our students can rest or if they want to, can enrol in the polytechnics.

Now they are thinking of outsourcing the police and the soldiers. It will soon be a reality when the volunteers’ corp proves its worth. We can even do away with NS and let foreigners put on our military and police uniforms.

The final step in outsourcing will be the govt, the political leadership. When this last step is done, our leaders would have a lot of time to make state visits to countries after countries for networking and fellowship. And if they like it, they could go and watch our outsourced sportsmen and women competing in the Olympics, Asian Games, Commonwealth Games and World Cup, and to cheer them to victory. This will raise the morale of the outsourced sportsmen and women and motivate them to win more medals for the citizens to celebrate on their return. Yes we will be like the Romans, the ruling class. Our leaders could go on study missions too. The bulk of the work to govern the country would be delegated to the foreign talents acting as ministers and prime minister.

The best part of this is that when the foreign talents fumbled, even if they are appointed as ministers or prime minister, they can be fired immediately. It is difficult to do this if the prime minister or ministers are Singaporeans. And the people will be happy as there will be accountability. Non performing foreign talent ministers would be fired like in the private sector.

There is a slight problem though. What would the citizens and leaders be doing with all the free time they have if everything is outsourced? Would they be making themselves redundant when they have nothing else meaningful to do, except maybe counting money or speculating in properties?

Oursourcing is the way to GO indeed.

Kopi Level - Green

Hanoi’s submarine deterrent against China

There is an article titled, ‘Hanoi to deploy submarines in deterrent against China’ in the Today paper on 9 Sep. The analysts and scholars were all in praise of the Vietnamese submarine capability and trumpeting that China is now getting a big headache with Vietnam acquiring 3 kilo class Russian submarines. And Vietnam is deploying the area denial strategy to keep Chinese ships and submarines out of Vietnamese water. The strategy, intelligence and assumptions are truly impressive.
 
Let me see, 3 submarines from Vietnam will now contain 70 Chinese submarines. This is the most brilliant military strategy I have ever heard as a student of military history. Sun Tzu or Zhu Ge Liang would look like amateurs. China must learn from Vietnam on how to use its 70 submarines to contain American submarine fleets that are probably ten times more and bigger and more sophisticated. China must quickly send a team to learn from the Vietnamese in this ingenious strategy that Sun Tzu would raise his hands in defeat.
 
This is akin to the Philippines threatening to go to war with China with its fishing fleet led by a museum piece of scrap metal called a battleship. China must be having a big headache with the threat from Vietnam’s submarine might and the Philippines naval fleet of fishing boats.
 
I am very impressed with the analysis and worried for China. Soon China’s navy would be contained by Vietnam and the Philippines and would have to confine its naval vessels to the East China Sea only, and be kept away from the South China Sea.
 
We are seeing the rise of two naval powers in the South China Sea to over shadow China’s sea power with minimal effort and resources but sheer brilliance in ideas and strategies. Impressive is the word.

Kopi Level - Green

Chok Tong to India to reaffirm ties

‘In a statement yesterday (7 Sep), the Ministry of Foreign Affairs said that Emeritus Senior Minister (ESM) Goh Chok Tong will visit India from 7 to 11 September 2014 to reaffirm the close bilateral ties between Singapore and India.
 
“To promote stronger links between the next generation of ministers from both countries, ESM Goh will be accompanied on his visit by Minister in the Prime Minister’s Office and Second Minister for Home Affairs and Trade and Industry S Iswaran and Minister of State for National Development Desmond Lee,” the statement said….’
 
What does the above statement mean? To promote stronger links, does it mean the current links are not strong and intimate enough? What would stronger links mean? Is it because the Indians are not happy with the CECA and Chok Tong has to go there to renegotiate or to assure the Indians that things could be better?
India used to have two strong men in the Singapore Govt in full support of stronger bilateral relations, ie Chok Tong and George Yeo, who were instrumental in the signing of the CECA. In the absence of George, is Chok Tong the only strong lobby left and the Indians are feeling insecure and need to be reassured that someone will replace George in this relationship?
 
Which country must Singapore send the ESM to reaffirm frail ties? Or which country needs to be regularly hugged to tell them that ties are good and no need to worry? Or it is the other way, that Singapore is feeling the coldness from India and needs to be embraced by India to feel good? Have we not have had enough of the Indian Fever, or are we asking for more? I already started to imagine Chok Tong doing the John Travolta routine, Indian Fever once again, minus George Travolta. Who is the next George Travolta in line to build strong Singapore Indian ties?

Kopi Level - Green

Hillary Clinton: ‘We came, we saw and he died’

The above is the famous joke from Hillary Clinton often quoted to describe how callous and cavalier the Americans are of the lives of Arabs in the Middle East. They came, they saw and they executed Saddam Hussein and many more Arab leaders as if it was a natural thing to do, a fun thing. The hypocrisy of the American and western policies in the Middle East is best described by Jeffrey Sachs in his article, ‘Let the Middle East govern itself’ published in the Today paper this morning. No one, I mean no Afro Asians, would bother about what I say. They would even pooh poof it as nonsensical and hysterical if I were to write what Sachs had written. It is best that it comes from a western intellectual to say the truth.
 
Basically what Sachs said was that all the wars of intervention in the Middle East were never about democracy or human rights. It was all about oil, about control of a real estate and transit to Asia. All the Arab leaders and parties are dispensable and would be disposed off when they turned against American and western interests, meaning too ‘nationalistic, anti Israel, Islamist and dangerous to America’s oil interests’. The Americans have been supporting practically every group and party in the region and also in their destruction.
 
Sachs quoted the Sykes-Picot Agreement between the British and French that ‘ formed a lasting pattern of destructive outside meddling. With America’s subsequent emergence as a global power, it treated the Middle East in the same way, relentlessly installing, toppling, bribing or manipulating the region’s govts, all the while mouthing democratic rhetoric.’ These few sentences summarized the ugly intentions of the Americans and the West in the Middle East. The Americans would only install a regime that is acceptable to them. Period.
The invasion of Iraq has led to its ‘destruction as a functioning society in an ongoing civil war, fuelled by outside powers, that has caused economic ruin and collapsing living standards’ and the death of hundreds of thousands of Iraqis. Not to dismiss or ridicule the beheading of the two American journalists, how could the lives of two Americans be more precious than the hundreds of thousands of death inflicted by the Americans on the Arab nations in the Middle East? The hypocrisy must stop here.
 
But no, the Americans are hell bent to topple another Arab leader in Bashar Assad. ‘More than 190,000 Syrians are dead and millions have been displaced as a result of an insurrection supported by the US and its allies.’
 
Everything in the Middle East is about brute force. And as Sachs said, the rise of ISIS, another creature that Hillary Clinton has been credited as the grandmother, America intervenes again with more bombings, and violence rule the day. How does this relate to the article by Thomas Friedman that the Russians and the Islamic States were all about violence and brute force when the real culprit of violence and brute force is none other than the Americans and the West?
 
Sachs was calling for an end to American and western hypocrisy in the Middle East, to leave the Arab states alone to deal with their problems and find their own status quo. As a consoling gesture to the Americans he said, ‘There is enough hatred, corruption and arms in the region to keep it in crisis for years to come.’ He knew that this is what the Ameicans and the West would want to see, a region in perpetual conflict, dysfunctional economies and govts, and not able to become a threat to Israel and American/western oil interests in the region.
 
How much more explicit does it takes to understand what is going on in the Middle East? Is it about democracy, human rights and about America and the West helping to keep peace? Don’t be naïve.

Kopi Level - Green

US has magic bullet

Thomas Friedman used to be quite notable and respectable in his views on the American economic and political policies. Lately he has become more and more jingoistic in his articles on American policies and becoming more like the rough neck Americans on the streets, talking without thinking, and having views that are so screwed without knowing it.
 
His latest post in the Mypaper, reproduced from the NYT, titled ‘US has magic bullet for Russia, Islamic State’ is a case in point. In the article he was lambasting the Russians and the Islamic States for using war and violence as the only solution for all their problems. The Russians and the Islamic State are all about power. What he also meant without saying it, is that the Americans are all about being civilized and never about power and the use of brute force to solve their problems. Clap, clap, clap.
 
Could you believe it, Thomas Friedman could only see one side of the coin, that America is so peace living? Where are his empirical data to show that the Russians and the Islamic State are using more violence than the Americans, or violence means? Does he not know that the number of wars and the number of innocent people killed by the Americans far exceeded what the Russians and the Islamic State combined?
 
And I quote, ‘Both (Putin and the Islamic State) are clearly motivated to use force by an intense desire to overcome past humiliations.’ So, what were the motivations for the Americans to use force in everything it is involved, everything is a nail? A friendly super power walking around with a hammer?
 
As a reputable political commentator, does he not think it is proper to use statistics to back up his claim instead of using his mouth to blast it away? What have the Americans being doing before Putin and the Islamic State decided to meet the American force with force? What was Bush doing in Iraq and Obama in Libya? Not being rude and insensitive, what are two beheadings compared to the hundreds of thousands of victims of drone and cruise missile attacks on children, the women and the old civilians? Less brutal and less barbaric because you don’t see the pain and the body pieces all over the streets?
 
Is this the same Thomas Friedman that won the same prize Obama had, for peace?

PS: The Americans are starting another Coalition of the Willing. Just pray that we are not going to be dragged in to murder innocent people like what George Bush did to us. Living in SE Asia, we better know what we should be extremely careful in doing.

Kopi Level - Yellow

The Govt must come clean and be accountable for the CECA

Below is part of a report by Business Standard on the CECA between Singapore and India. Though it was stated that the Singapore Govt was in no hurry to review the pact, the point is that the CECA is still in effect with all the unfavourable terms affecting the lives of Singaporeans. Many of the controversial and damaging terms have been highlighted and denounced by the netizens as ridiculous and stupid. It would be better for the Govt to rescind this agreement immediately and renegotiate a new agreement minus the adverse terms and conditions that are detrimental to Singapore. The existing CECA terms must be declared null and void pending a new agreement. They are politically untenable and skewed against Singapore but highly favourable to India.
 
The Govt must come clean and be transparent with the new terms it is going to sign with India. They must be held accountable and must obtain the consent of the people for such a sweeping agreement. It cannot sign another agreement with terms similar to the existing CECA. It would need some people with wisdom and the interest of Singaproeans at heart to negotiate the new terms. Just plain good grades in schools have been proven to be useless or dangerous if the terms of the first CECA are to be witness to the stupidity.
 
A rally at Hong Lim is appropriate to express the wills of the people and what the people deem unacceptable for the Govt to take note of. I almost faint when I read the CECA. Cannot believe that our super talents could agree to those stupid terms.
 
Phillip Ang and Leong Sze Hian and their teams must put the CECA under the microscope to remove all the offending terms to ensure that they are not in the new agreement. Being hit by the first CECA in the dark is bad enough. To repeat the same mistakes in silence is unforgiveable.

Below is the Business Standard’s report.
‘Singapore in no hurry to review economic pact with India

The second review of CECA has been pending for more than 4 years

Nayanima Basu | September 02, 2014 Last Updated at 00:52 IST, Business Standard

Singapore is in no hurry to conclude the second review of the Comprehensive Economic Cooperation Agreement (CECA), even as India is pushing for entry of its banks and professionals into the Singapore market for more than four years.

“Yes, it (the second review of CECA) has taken a bit longer. We are in no hurry. These sort of negotiations take time. The Indian government is yet to come to terms with our laws. If CECA review takes over 10 years then also it is no big deal. Life goes on,” a senior Singaporean government official told Business Standard.

India had signed its first ever CECA with Singapore in August, 2005, under which both sides have a preferential tariff arrangement for over 80 product lines. Besides, India and Singapore enjoy greater access in services and investment under CECA.

The CECA's second review was launched in May, 2010, but since then the review had been held up mainly on two important issues. One is allowing Indian banks to Singapore and second the free movement of Indian professionals.

India had been consistently raising this issue with Singapore at all high-level meetings. The matter was even discussed during the recent meeting between external affairs minister Sushma Swaraj and her counterpart K Shanmugam in Singapore last month.

The Singapore government, in its effort to reduce reliance on foreign workers, passed the ‘Employment Pass Framework’ in 2010 under which the foreign share of the total workforce has to be brought down to around one-third by the companies located there, while encouraging employers to invest in productivity in return for incentives in the form of tax breaks.

However, India has argued that while Singapore has done this to address its own domestic concerns, it had committed a separate provision under CECA, exempting India from such a rule. The matter has taken a political colour now….’

Kopi Level - Yellow

Singaporeans have another stake in this island

It was the govt’s policy to make sure Singaporeans have a stake in this island, at least owning a HDB flat. This was the old govt’s policy. Never mind those Singaporeans that were banned from buying a stake in this city state. Never mind if they have served their NS and still kpkb caused they could not buy a stake in a city state they have pledged and trained to defend. Never mind if foreigners turned new citizens are allowed to buy and have a stake in this island without having to serve NS.

The govt now has created a new stake for all Singaporeans here. The govt is making sure that the citizens will have a lot of money in the CPF, as another stake for them to feel there is something to protect and die for.

Now NS men will have to protect their CPF until their die, maybe 90 or 100 years. The govt has worked it all out to make sure you will always have CPF money, a lot of money,  in your CPF account. This is a new stake in addition to your HDB flat.

So for those not allowed to buy HDB flats and claimed that they have no stake in this city state to protect, there you are, now you have a stake in the CPF. You can’t take it all out when you need it at 55, so you better defend it with all your life and not allow anyone to take it away.

Kopi Level - Yellow

Candle Light Vigil on 17th September at Hong Lim Green (Pl note change to 17 Sep)

There will be a Candle Light Vigil for Roy Ngerng on September 17, to express support and solidarity for his High Court hearing.

It will be held at Hong Lim Green from 7 pm till midnight. You can bring your own candles, ground sheets, umbrellas and light refreshment for the evening.

As Roy will be facing the biggest trial of his life it is incumbent on all of us to come forward and lend him the moral support that he needs,

 He has done us proud by raising an issue which was left dormant for so many years.

We will mark the evening with music camaraderie and communion on our country’s future.

Please come with your friends and loved ones and spend an evening under the stars

Thank you.

Convenors: Patrick Low, Teo Soh Lung

The above is a release by the organisers of the event. For those who would like to show their support for Roy Ngerng, this is a good opportunity to do something. It is not just about Roy, but also about opposing the methodology used against the critics by the rich and powerful. We have witnessed in the past how the rich and powerful have used the courts of law to force their justice onto the weak and poor who could not afford the legal fees and had to swallow injustice against them. 

For those who have contributed to Roy's legal fee fund generously, this would be another way to show your support, in silence, in the darkness of Hong Lim, with a little light.

For those who are fighting for the return of their CPF money, they could show a little gratitude to this young man who have valiantly fought alone, on their behalf, against a mammoth machinery. Show Roy that you care and are deserving of his sacrifice. Show the rest of the Singaporeans that as a people, you are united behind Roy and would not abandon him at a moment when he needs your moral and physical support most.

The last thing is for Roy to walk alone in this difficult part of his journey, with the people he was fighting for walking away from him.

Would you be there? Do you care? Is there anything that matters to you for you to want to be there with your candle light?

Kopi Level - Yellow

Why China must be assertive?

For centuries, China had been the victim of foreign aggression. Many of the neighbouring tribes were lusting to conquer China. The Mongols and the Manchurians succeeded and ruled China for several centuries each. After the Manchus, the tribes came from further afar, the Japanese, Russians and the Europeans and Americans. China was robbed and raped and dismembered to pieces. Till today, many of its territories are still in foreign hands, now given a new title as disputed territories with the Russians, Indians and the Japanese.

Today China has stood up and demanding the return of these territories seized from her by foreign invaders when China was weak. Why are the Americans crying foul, that China is being assertive and even aggressive? What is wrong with a country wanting to reclaim its lost territories? It is a natural right of the Chinese to take back what was taken away from her wrongfully, by force.

Why are the Americans taking this stand, that China cannot take back its lost territories? It is because the Americans have taken away the territories of the native Americans and many other territories belonging to other natives. To the Americans, what had been taken is a done deal. The natives or losers cannot take them back. If the native Americans were to demand for it, they would also be branded as assertive and wrongful to do so, for wanting to change the balance of power, the status quo.

The same would apply to the natives of Australia and New Zealand, Hawaii, Canada and many other pieces of land. These natives would be branded as not only assertive, they would either be put behind bars or be shot, for wanting to reclaim their land from the thieves.

China is only trying to reclaim its lost territories from the thieves, and the Americans are protecting the thieves and even accusing China of being assertive and aggressive. Many people of Asia and the Asean countries have reclaimed their land through the fight for independence. If they have not done so, if they are still a colony, or if their land is still occupied by the thieves, they would be branded as assertive and trouble makers should they dare to demand for the return of their land.

China must be assertive. China has all the rights and reasons to be assertive to reclaim its lost territories. So do the natives of America, Canada, Australia and New Zealand and many others. There is nothing wrong about assertiveness when one is demanding for the return of his lost territories taken away by the thieves. The thieves are crying foul now, as if they are rightful owners of the natives’ land.

The deceit and trickery of the thieves to want to keep the stolen land as theirs, as a fait accompli, must not be seen as a rightful thing and the natives reclaiming their land a wrongful thing.

Would anyone put themselves in the shoes of the Chinese and ask themselves what they should do to reclaim their lost land?

Kopi Level - Green

Foreign thugs not welcome

A burly Australian cook, Aaron Jeremicjezyk, punched a petite young Singaporean lady for telling him off for scolding a limousine taxi driver. Our pathetic taxi drivers are mostly whims and are often set upon by their passengers, and many got beaten up. They are unable to defend themselves from the thugs, mostly foreigners. So this brave young lady stood up for one of them and got punched in the face. Did the whimpy taxi driver returned the courtesy to defend this young lady?

The story is now in the courts of law and the thug is being charged for causing hurt. And this is not the first time. The sad thing is that it has happened many times and it seems that the law is not having any real effect. To the thugs, what is a fine of a few hundred dollars when they could get their thrill of beating up the taxi drivers for fun. And now this lout even punched a small and petite young lady by the name of Dawn Ho, a musician. What a shameless and cowardly thug.

What would the punishment be? Would the court hand him a deterrent sentence to send a signal to all the foreign thugs and louts that they would be put behind bars for at least 6 months or the maximum of 2 years in jail? Or would it be another light tap on the wrist.

Would there be any politician standing up to defend the docile Sinkies like they stood up to defend foreigners running foul of our laws? When would the law be seen to be protecting the Sinkies from being bullied and beaten up by foreigners? Is this country own by foreigners or the citizens?

In the past there used to be gallant local men standing up to teach all these thugs a good lesson. Even commandos offered their services to give them a good beating for behaving roughly to locals. Sad that such things would not happen again and the small and docile law abiding citizens are left to themselves, to be punching bags for the foreign thugs to practice on.

Sad, sad, sad. Should we advertise this island as one where foreigner can come here and use the locals as punching bags? $1000 for a couple of punches?

What is going on? What is the point of spending so much money to beautify the island with more and more infrastructure to attract the thugs here when the safety of citizens is at risk?

Kopi Level - Green

Top 3 posts in TRE by number of comments

Below are this week’s top three posts in the TRE by the number of comments they have attracted.
 
“Khaw: Best to live with children & rent out flat” - 3rd position
 
“Teo: Degree no longer a ‘one-way ticket to success’” - 2nd position
 
“Lim Swee Say: Cleaners are no longer cheap labour” - top position
 
The article on Boon Wan’s comment has hit 97 at this point of writing this post and is at Number 3 position. Chee Hean’s is at number 2 with 102 comments. And top of the table is Swee Say’s comment on ‘cleaners are no longer cheap labour’ with 107 comments at this moment of writing this post.
 
The comments are very colourful and often borders on PG stuff. When you are unable to sleep, these are recommended readings to keep you occupied.

Kopi Level - Green

Education is the way, the greatest leveler

If you have children, (I have), I will encourage them to study hard, get a govt scholarship, bestest an OMS, or betterer best, a President Scholarship, then come back and join the Administrative Service. That is the road to success. I remember someone said this, can’t remember who. I got dementia. Anyway, I think it was good advice. Maybe it still is. No? Who said No? Kee chiu!
 
Please do not advise me not to send my children to the universities. I will clobber you. I will take my ‘char kiak’ and knock your head. How can you give me this kind of bad advice? If university degree is no good, the MOM and ICA would have stopped taking graduates from other countries to work here. Why you advise our children not to go to universities and keep on bringing in foreigners with foreign degrees and degrees from you know where?
 
I swear I will take the good advice to send my children to universities, to get a govt scholarship and to join the Administrative Service. Don’t tell me this is bad and wrong. I don’t believe you.

Kopi Level - Green

Tan Jee Say’s olive branch to alternative parties

The new kid on the block, Singapore First Party, is taking the initiative to offer an olive branch to all the other alternative parties. In Jee Say’s letter to all the alternative parties, he diplomatically listed the parties by alphabetical order to avoid controversies, he requested to have a cordial meeting with the leaders of the other parties. Below is the text of his letter,
 
‘We are proud to be able to join you in wanting to build a better Singapore for all Singaporeans. You have all contributed much in this effort. As a new party, we can learn a lot from your experiences. Accordingly, we would like to pay a courtesy call on each of you, to introduce ourselves to you, discuss your experiences and find out how we can complement you and work together with you for the betterment of Singapore.’
 
The letter was all politeness and humility, wanting to learn from and to share with the other parties. It is unlikely that any of the parties would turn him down to appear arrogant and aloof. Many observers read this letter as a first step towards opposition camp unity. This is something that has been seen as the Achille’s heel of the opposition and a closing of ranks, to work out a common strategy to take on the ruling party is highly awaited and desired by the voters who want to see a serious challenge to the dominance of the PAP.
 
In many ways this is a daunting task and highly difficult to achieve. Otherwise it would have been done long ago. Understandably every party would have their own views on such a move and many have their own constraints to want to come together. There are misgivings, rightly or wrongly, that would keep the alternative parties apart. But intentionally wanting to keep their party out of the loop, to be a lone hero, may not be seen as a good thing unless they could mount a serious challenge to form the govt.
 
Ideally the alternatives could come to a common agreement and position on how to fight the GE as a united force. Saying it is easy, but doing it is tough. This does not necessarily mean they would not be able to come together. On the other extreme, a very loose form of unity or understanding could be worked out whereby the alternative parties would go for the lowest common factors. This could be just a non written agreement not to fight or contest against one another in a 3 corner fight. It could also mean no attacks on each other’s position if they don’t agree to work together as a united force. There would be a lot of give and take with the hope that the bigger parties be as accommodating as they could possibly be and the smaller parties be as least demanding as they should.
 
The assumptions here are that the alternative parties are willing to talk and do a bit of horse trading among themselves. What would be unfortunate is for some to be difficult and not wanting to talk with the other parties. A lot of goodwill and wisdom is needed here for the alternative parties not to spoil the broth and do themselves in. The big brother at the moment is the WP. Would the WP be a gracious big brother or be an uncompromising one?
 
Is there hope that they can come to some understanding or would it be a big disappointment? In the recent by elections and the last GE, it appeared that eventually wisdom, common interests and not to do each one in could see them rise above the level of mediocrity. If the bad boys and bad attitude come from the smaller parties, things could be easier as they are inconsequential and can be ignored. At worst, among the bigger alternative parties, they must talk to each other for the good of everyone without risking bad blood and someone behaving badly to upset the apple cart.
 
May goodwill and the general good of the people prevail for a resounding and beneficial ending in the coming GE.

Kopi Level - Green

So sad, but I want to rub shoulder with this FT…he is sooo rich and talented

Below is a letter to TRS post by a Tan to give more details of what was going on in this case.

Dear TRS

I refer to "PRC family allegedly tried to take over $40 million assets of 87 year old widow".

I am a resident at Gerald Crescent and would like offer some insights into the recent saga between Madam Chung and Yang Yin, the China tour guide who tried to swindle the widow’s millions. The background story has already been published but I will offer more supporting evidence. As one of the residents living near this particular bungalow, I have spoken to Mdm Chung and her family on some occasions and have heard from them, and other neighbours, more about Mr Yang Yin.

Yang Yin recently tried to apply for Singaporean citizenship. In order to get his PR in 2009, he used money taken from Madam Chung to purchase a degree from a “University of Financial Trade” in Beijing to aid his application. However, the university does not at all exist.

To further his application, Yang Yin also set up a shell company named “Young Music and Dance Studio” to declare his occupation as a dance teacher. Despite the shell not having any active students, the ICA approved his PR application without any due diligence.

I subsequently wrote to the ICA in 2012 to complain but this fell on deaf ears.

Over the past 5 years, Yang Yin has taken countless art pieces from Madam Chung’s private art gallery to sell off at a discounted rate to their worth. Her private art gallery occupies an entire building in the grounds of her bungalow and contains numerous priceless art pieces. He has additional represented himself as an art expert to further this goal [Please see his namecard].

To further his citizenship application, he has also participated in numerous PAP grassroots events while claiming to help the PRC community in Singapore as the “Executive Director of the Singapore Chinese Immigrants Association” and a “Director of Singapore Chamber of Commerce”. He has numerous interactions with PAP MPs and ministers. He even has had the opportunity to take pictures with PM Lee.

Over the past 5 years, he has taken millions in cash from Madam Chung and lived lavishly off the proceeds, including taking monthly holidays to China and Japan on first class flights while staying in luxury suites. At the same time, he has neglected Madam Chung to the extent that the former multi-millionaire does not even have $1.50 to buy bread.

Tan

Kopi Level - Green

Mickey Mouse stocks

Goh Eng Yeow wrote an article in ST about the Mickey Mouse stocks in the SGX a few days ago. To him this is not desirable and not the norm. I think it is disgraceful in away, a joke. How can a main board stock be worthless or be worth less than 1c? Please don’t laugh, this is serious business, maybe a very sophisticated strategy of great minds, too deep and complex for ordinary beans to figure out, like toxic bonds and derivatives, for a main board stock to be value at less than 1c. Is this is a new game designed by intelligent gamers for daft investors?
 
On the other hand SGX is reducing the board lot of 1000 shares to 100 shares. Would they go further to reduce them to unit share to increase liquidity? They have also reduced the bid value to 0.1c to induce liquidity. Now, is it funny, is it strange, fishy?
 
How did the dominance of penny stocks in the main board come about and remain so for so long? Was it by design or by fluke? This thing did not happen over night. It has been like that for several years. And by reducing the board lot size and bid value to less than Mickey Mouse, what are the likely effects? More Mickey Mouse business?
 
My guess is that Mickey Mouse stocks are desirable and intended to some quarters. I may be wrong, but I am only guessing. The question is why? Who benefits from Mickey Mouse stocks and Mickey Mouse bid sizes and bid values? Knowing the answer will explain why Mickey Mouse stocks are desirable and allowed to exist in the main board. What? Small investors are the beneficiaries to Mickey Mouse stocks? Try again.

PS. Is this the stock market version of cheap foreign workers is good for the market? We have a Sesdaq for cheap and high risk stocks. There is no place for super penny stocks in the main board to cheapen the stock market aka Sungei Road bazaar. The main board must be a place for quality stocks.

Kopi Level - Green

Lease Buy Back Scheme (LBS)

With the LBS now the hot topic for discussion, Boon Wan has wisely entered the fray to warn the oldies who took the scheme and ended with a lot of cash to be careful. ‘I urge our seniors to exercise prudence and caution.’ Said Boon Wan. He did not recap on the oldies visiting Batam story but instead spoke about the numerous foreign property investment schemes being peddled in the market.
 
And I thought I had a better idea. Or someone, some concerned and do gooders, would say the best thing is to retain the cash in the CPF accounts or make the oldies buy a compulsory annuity scheme with the cash from the LBS. Well, I thought I was being smart, but I was late. This was what Boon Wan suggested.
‘The best advice I can offer, is to use the substantial cash proceeds to voluntarily top-up you and your spouse’s Retirement Accounts. That will be a sure way to ensure that you can both enjoy a steady income each month in your golden years.’
 
There is a slight difference from what I had in mind. I was thinking of another compulsory scheme ala CPF minimum sum scheme. I am very concern for the welfare of the daft and irresponsible oldies. I would want to help them, not to lose their money because of their foolishness. I need to protect them. Boon Wan was talking about a voluntary top up scheme. At least he was kinder by allowing the oldies the right to choose. I am the kindest of all, but of the extreme kind, and am suggesting to make the retention of the cash by compulsion, no choice. They said you need to be cruel to be kind. I subscribe to that.
 
Now, which is the kinder scheme, voluntary or compulsory? Keeping the money in the CPF is definitely a good thing. The money will not fly away. Only slight drawback, the oldies may die before touching it.

Kopi Level - Green

Brighter prospect for cleaners

Some years ago this guy came to me for advice on his career path. He was going to take up the job as a cleaner and he wanted to know if there was any prospect in this job. Yes I called it a job, not a profession and I could not really see any prospect in the job except to become a supervisor if the company was big enough. I had a bit of difficulty explaining to him about a dead end job or a job with dim prospect.
 
Today I could be more optimistic and could tell him to take up the cleaner job. The prospect is brighter. A new law will be introduced to pay cleaners a minimum salary of $1,000. Four figures you know. And the prospect of $1,600 as a supervisor. Cleaners will also be sent for training to improve their skills and probably higher salaries. There will be a career path for them. 



From a HR point of view I would like to develop an organisational structure for the cleaner profession for the big companies. Organise them like the army with section leaders, platoon commanders etc etc. If big enough, can even have a cleaner general at the top of the pile.
 
Things are changing. Poly grads, interested in becoming cleaners? Just kidding. Poly grads prospects are even better. Could look forward to join the Admin Service or maybe become a politician and a MP or minister.

Kopi Level - Green

The govt must stay out of the people’s lives

The govt is elected by the people to look after national matters. They must not arrogate themselves to mess around with the people’s lives and their personal matters like child bearing or how to spend their life savings, how to retire.
 
What the govt can do is to formulate policies which they think are good and offer them to the people. The people shall decide what is good for them. What is good for A may not be good for B. What is good for the govt may be bad for the people. Everyone is different and has different priorities, values and beliefs. Leave the people to decide how to live their lives, and leave the people’s money alone.
 
Keep your hands off the people’s money! Nobody is asking the govt to nanny them or to help to mess up their lives. Just because 3 persons went to see the MP for help does not mean everyone is asking the MP for help. Stay off.
 
Which idiot in govt is claiming that the people are asking the govt to meddle and interfere with their private lives? Kee chiu please.

Kopi Level - Blue. Thank you.

CPF backed by solid assets

I am just looking at the reasonings given recently that the people have no fear as their CPFs are backed by solid assets of the state. We have land, we have properties, we can also print money, solid like hell. Even if we lose all our CPF money in bad investments, the govt can always find other money to put back or repay the people’s CPF savings. I am not saying that our CPF money has been lost or gambled away. Our CPF money is in SGS bonds, very safe.
 
This issue crops up because of the reasonings used to assuage the people that they have nothing to worry about. The govt is not broke and have a lot of assets to back up the CPF savings in the reserves, land and properties in the whole island in fact.
 
So, is the reasoning or logic acceptable? Hypothetically, if a rogue govt and their talented investment managers were to lose the bulk of the reserves/CPF money in the future, they can say, don’t worry, we have a lot of assets that we can sell, liquidate to put back into the CPF, is this assuring?
 
Money lost is money lost. Taking money from somewhere to cover up the hole means somewhere else has a big hole that needs covering up. If the loss is big, the hole would be just as big. Some big assets must be sold from the pool. This cannot be acceptable.
 
The reserves/CPF money being managed when lost is lost and digging out money from other pockets cannot be acceptable and not comforting. The money must come from somewhere and when everything is accountable and linked, ultimately the people must pay for it somehow. Yes, the govt has a lot of money, reserves and assets, many times more than the CPF savings. So?
 
It is just like the public transport system. If it loses money, or more money needed for capital expenditure, or more fines for delays and breakdowns, eventually the commuters will have to pay for them.

Kopi Level - Blue. Thank you.