The Best Business

There are two businesses that I would consider to be the most lucrative and worth investing in. The consumers are plenty and all cash rich and all scratching their heads on how to use their cash hoards. Many businesses are good but there is always a problem of debt collection or bad debts. In these two biz, there is no bad debts. How good can it get? I am referring to Hospitals and the Last Rites. As we walk towards the future, all the oldies here will be so rich and probably die with all their money unspent. With a minimum sum that is going to exceed $100k and a Medisave Account that will shoot pass the $30k limit, most of the oldies will have more than a $100k in their CPF account, and untouchable except for the little ration that they will receive monthly. A shrewd businessman should be able to unlock this money and transfer them into his revenue account. One package is hospital retreats. Develop hospitalisation packages for the oldies to spend their holidays in 6 Stars hospitals, with all the spas and fine food and wine and pampering thrown in. A little creativity is needed to use some medical terms to qualify these oldies for their escapade, spending the money that they might not live to see. Another package will be for the finest hour, The Last Rite. The oldies can select a package to invite all their friends and relatives for their last party. They can decide on the venue, menu, the trimmings, order the Mercedes or Rolls Royce to go with them, etc and the guest lists, the best bands etc while they lay in peace. Imagine a $100k party or more, depending on how much is left in their Retirement Account, all to go at one go to make a memorable departure from this world and to feast all their friends and relatives. It is a way to make a big bang as one exits from this world. Otherwise the money will just go to the state.

freedom for grandpas and grandmas

The Grandpas and Grandmas should be allowed to spend their money at their own time and not be rationed. It is time to stop forcing grandpas and grandmas to save for tomorrow. For they may have no tomorrow. Stop the legislation requiring grandpas and grandmas to contribute to their CPF and Medisave. Make these optional at their age. Free the senior citizens from a life of regulations and programming of their life activities. Return freedom to them. Let them, for once, to live their own lives, plan their own lives and mess up their own lives if they so choose. They have earned their rights to do what they want, to be free. There should be no compulsion for more savings after 55.

no sands no money

The Singaporean construction contractors should take the Indonesian ban on sand in its stride. Look for alternative sources. Pay a little more. This is a purely economic transaction just like coal, minerals, oil etc. If the Indonesian refused to sell, so be it. With money, there will be other takers. The losers will be the Indonesians. If a country cannot or will not trade its produces, then it should remain penniless. And all the eager beavers should stop pouring money into Indonesia and see how they make ends meet. It will be criminal if our contractors are trying to exchange money for sand but the Indons refused the exchange and other Singaporeans rushing in to give them the money. The message must be clear. No sands, no money.

charities should pay good money

Chua Mui Hoong wrote, 'Do away with cheap and good.' In her article she questioned the perception of people that honchos of charities should not be paid well. Her argument is that these honchos must be rewarded at market rate like any organisations. That charities should pay good money for good people. This argument immediately falls flat with NKF and Youth Challenge as outstanding examples of paying good money for frauds. The other point is the assumption that charities should be run like commercial businesses. This is exactly what is wrong with charities. Charities are charities and should be run like charities. Charities should be run by charitable people with a heart and not one with money in his head. People who wants to make their millions shall not run charities. These are money from the hearts, public money given to help needy people. Not for people to get rich. Go and get rich in the private sector. Make all the money if you can and no one will raise an eyebrow. But making money and getting filthy rich on public money is unacceptable. This is one of the fallacies that Singaporeans are made to believe. That every man is driven by money. And it is good to employ men by using money as the key motivator and nothing else.

Looking to run a Charity

The last time I wrote about my intention to start a Charity Organisation. Looks like I am late and need to speed up my search for a good charity to take over or start a new one. There are so many peanuts to be picked, big ones and small ones. And there is no need to worry. Yap Su Yin wrote in the Straits Times, 'Who will pay the extra cost for good governance?' Yes it is too costly to have good governance. Better not to incur such cost. And it is very comforting to hear Assoc Prof Mak Yuen Teen saying, 'Therefore, it may be difficult to take action against (past and present) boards for negligence or breaching their duties, unless there is an element of dishonesty or fraud involved. I don't think there is much you can do against the (previous) boards.' Prof Mak was referring to the new Youth Challenge saga. Since it is so difficult to find anyone guilty, and corporate governance is going to be too costly to be considered, then more volunteers should be encouraged to run more charities. Just act honestly and no one can find fault with them even if they pay themselves crazy or their friends crazy. Just make sure that everything is approved by the board or some one else.