nkf story- chap 3 part 2

Richard Yong and Loo Say San were charge for failure 'to exercise "reasonable diligence" and casued the charity to pay excessive fees to an IT company.' The IT company wanted to charge NKF 9,219 man days spent. But the IT department disputed the claim and NKF agreed on a new figure of 5,310 mandays, a savings of nearly 50%. Under normal circumstances it should be a great job done. But in this case the former IT head of NKF, Jayaraman, actually computed the number as only 538 mandays. But after that Jayaraman was out of the negotiation when the final number was accepted, ie 5,310 mandays.

good employment opportunties for singaporeans

Enough jobs for Singaporeans Lets look at some of the numbers quoted by Eng Hen in the Today paper. 173,000 new jobs were created last year. And another 90,000 jobs will be created annually over the next 5 years. Singaporeans could only filled 30,000 jobs annually. And for every 'additional foreigner brought in has resulted in three jobs being created for Singaporean workers.' What does all these mean to the employment of Singaporeans? If Singaporeans can filled in 30,000 jobs annually, then out of the 173,000, 143,000 must be filled by foreigners. Am I right or wrong? And for the next 5 years we will need to bring in 60,000 x 5 foreigners or 300,000 foreign workers to fill all the new jobs created. Correct? So from last year, 143,000 and another 5 years, 60,000, we will have brought in 203,000 foreign workers. Now comes the happy part. For every foreign workers brought in 3 more jobs will be created for Singaporean workers. So how many jobs will be created for Singaporeans as a result of this 203,000 workers? 609,000 jobs! Wow, we will have more problems don't we? Singaporeans can only filled in 30,000 jobs annually. I am just drawing a simple computation from the numbers and reasons given. It is a happy problem for Singaporeans. No Singaporeans will be unemployed. Employers will be begging Singaporeans to work. There will be more pay rises when demand exceeds supply.

it will come, an economic slump

The Straits Times editorial raised a very pertinent question today as it discussed about the reemployment of the aged workforce. While the govt is planning to revitalise the employability of Dad's army, if another economic slump hits us, the first to go will still be the aged. And if we have 6.5 million people, the problem will be multiplied accordingly no matter how much assurance we are going to get. And with the world economy going in cycles, it is only a matter of when it will hit us again and how serious.

over supply of HDB flats good

Over supply of HDB flats is a good thing The building of HDB flats should be treated slightly different from commercial properties. The original objective to provide a roof over the head for all citizens is still relevant today. Too much speculation in these flats, if it leads to everyone making money will be the best. But when wild speculations lead to people losing their homes, then it can become a negative event. The appreciation of flat value should be allowed to take place gradually and not be left to the mercy of speculators. And building flats, and with some excess capacity for those needing one, should be the main objective of HDB. Not too obsessed with profits as the reason to build. People who really need a place to live and are not fuzzy about location will then be able to get a HDB flat without having to pay a ransom. Those in choice areas will fetch better value depending on market demand. Of course the over supply should not be over excessive to cost a big overhang and tying down too much capital. Let there always be flats available to the people without having to push the price beyond their means.

Medisave, a stubborn question

Until today, I am still not convince why people covered by Medishield or their own medical insurances must still have a large chunk of their money locked in Medisave. Can someone enlightened me on this? If a citizen has provided himself adequately with medical coverage, even setting aside a sum in the Medisave in case he cancels his insurance coverage, would that not be enough? Why forced people to leave excessive money in the Medisave?