something unbelieveable

ST Forum June 14, 2007 $200 GST offset, but so much more to pay ad infinitum I REFER to StarHub's announcement that it will increase cable TV subscriptions by between $4 for basic groups and $10 for sports content. This is an increase of 17 to 67 per cent. The reason given was that 'the price hike is a natural result of ongoing increases in prices of pay-TV content", without any mention of the GST increase. When I received my GST offset letter informing me that I will receive $200, I began to recall the things that I have had to pay more for in recent months. Over the last 12 months or so, there have been media reports about increases or announced increases in electricity, taxi fares, development charge for non-landed residential sites, refuse collection fees, food courts upgrading and food prices, bus and MRT fares, one- and two-room HDB rental, university fees, Goods and Services Tax (GST), postage, property tax, registration fees for medicines, polyclinic fees, hospital fees, car park charges, Electronic Road Pricing (ERP), Nets charges, ElderShield premiums, removal of medical fees guidelines, plastic bags, hospitals means-testing, electronic share application fee, a second postage rates increase, and now cable TV, et cetera, in chronological order. All these increases or announced increases are not even related to the impending GST increase, except for SingPost's postage rates increase which is 'specifically to offset the GST hike'. With the economy booming, resulting in increased revenue, profits, surpluses, possibly lower costs due to economies of scale, et cetera, why is it that prices can only go up but never lowered, or at least kept level? With the assurance that government fees will be frozen for one year after the GST hike, I hope that particularly those fees for essential goods and services that are not in the 'frozen list", like electricity, taxi fares, ERP, bus and MRT fares, university fees, health-care costs, et cetera, will not continue to rise again soon. Leong Sze Hian Is Leong Sze Hian right or wrong? The latest figure released is that cost of living is up .4% over the last month. And looking at such statistics, even after July 1, the next 6 months' CPI will not be more than 2.4%. Why are people claiming that everything is up? Mee rebus up 50c only, what else? All the items mentioned in Leong Sze Hian's article? Sounds quite fictitious. Something is unbelieveable here. It must be Leong Sze Hian's article. CASE has set up a special section to monitor any unreasonable or unjustifiable increases. So Singaporeans need not have to worry.

No need for CPF

Why is there a need for CPF? Singaporeans have been so used to this concept that even when they lay dying on their deathbeds they will still find it not right for not having money in the CPF. They have this mindset that is conditioned overtime to accept things without questioning. And this stupidity extends to all levels. Can’t disagree with Li Ao. CPF is a saving for retirement. It is money that one sets aside and needs when one is no longer working. When one retires younger, at 55, one needs more savings as one has more unproductive years ahead. When one retires at an older age, the savings needed should be proportionately smaller. And if one is to work till one dies, say at 70 or 80, why is there a need for a huge savings in the CPF? Medical needs? Why should one be so obsessed about that huge hospitalization bill when one is past 60? All of us will die one way or another, sooner or later. After 60 it is fair game. What is the point of having $100k to be spent in a 30 day hospital bill and still alive but no job and no money? Or is this a justification to have $200k in the CPF? Do we need to pay top dollars to idiots to tell us that we must keep on contributing money to our savings till the day we drop dead? Setting aside the need for hospital bills, as one ages, the physical needs for food and other frivolous items will fall. One probably can hardly eat, hear or see and be lying in bed or slouching in a chair waiting for the maker to call. Why should people in the 60s or 70s and working, be made to save more? At 55, and retiring, one has another 20 years to go. Working till 70, how many more years to go? Oh we need to save to live till 90. What crap? There is no need for more contribution to the CPF if one can work till he drops dead. A formula can easily be worked out to determine on a reducing scale, the amount of money needed for safety reasons so that a person can live on his savings without being a burden to the state. The need for unlimited contribution to the CPF regardless of age is silly.

Temasek's purchase of telco is business

At least this is what Sonthi is saying. And his earlier grunt about protecting national assets, confiscating Temasek's assets, was to appease the ignorant Thai masses. "I don't think they did anything wrong. We don't have any bad feelings about that. We still have a good relationship with Singapore." He said. This turnabout, from a hostile nationalistic bull charge to a sensible and friendly approach, would have toned down the temperature a bit. But how would it affect Thailand's reputation as a safe place for investors? Could they turn around again and start their chest thumping and war cry? The policies and actions of national leaders will greatly affect the confidence investors have of the country. Like Malaysia, after all the restrospective and retroactive policies and decisions, every investor will be wary about investing there. The precedence has been set, that they can do anything, to change to laws, to the detriments of investors. Thailand is heading towards this direction. The new posture is a retreat from plunging Thailand into a bottomless pit of no return. It will destroy Thailand's credibility and as a preferred country for investment if the Thai leaders did not adopt a rational approach to commercial issues. Let's hope the turnaround is just the beginning to unwind the damage that it has done.

The pathetic fight against 50c

Jeffrey Law Lee Beng stopped patronising the mee rebus stall because it charged him 50c more for a plate. This to him is profiteering from the GST rise. Didn't he know that all the cost to the mee rebus stall holder has gone up? To expect the stall to charge a 2% increase or 4c more is not only impractical but not enough to cover all the other costs. The stall holder is not only affected by the cost of his material but also cost of his livelihood. His rental, medical, children education, transportation, practically everything has gone up. He needs to earn a little more to make his living manageable. Now what is 50c? I am sure it is affordable. This is another way of looking at the current situation from one whose pocket is stuff with money.

Infidelity or telling the brutal truth?

GST up, all prices up, everyone, or it seems like everyone is unhappy. Really? What is another $2 or $20 or $200? Rubbish, too insignificant to be bothered by such trifles. The truth, yes, the truth is that many Singaporeans are so rich beyond the imaginations of the hardlanders. Life is a bit hard in the hardlands. But out of the hardlands, life is simply beautiful. Everyday is a day of opportunities to make more bucks. And not in the thousands but hundreds of thousands or millions. There are many Singaporeans who can splurge ten or twenty thousand for a night of entertainment. Or writing a cheque for a few millions without winking. That is the real truth. The pleasant truth of the good life. What is your station in life? Sometimes gripping about all the little increases is quite insane when you are in another station when a few millions is nothing, small change : )