Town Council Funds

After going through Teo Ho Pin's explanation on the investment of Town Council Funds, I got the impression that the investment objective is just to invest for better returns. But the returns will not be translated to direct benefits to the residents. It is just investment for investment's sake. Thought any gains should be returned to the residents in some ways like lower S&C charges. The other point that came through is that the investment is for long term and gains or losses do not mean anything or have no impact on the residents. They will not affect the residents in anyway. Really? Another point I thought Teo Ho Pin should address is the Sinking Fund. How much is enough? The NKF's 20 year reserves came to mind. There must be a limit on how much should be set aside and when enough, the burden of payment by the residents could be proportionately reduced. What we are hearing is that residents shall keep paying regardless of how much is already in the reserve. Collection of public money must be capped at some point. It must not be unlimited and unconditional.

Money In My Mind

Money In My Mind What I built, the people called homes With loving care, all very affordable Big or small, I have them all For the money in your drawer I move people by the loads On the streets, high above and down below Ordinary is not good enough World class or nothing less When you're unwell, no worry We look after you, in fine luxury Fame physicians there will be You, our treasure, the best is to be Your money we will keep Safe and guaranteed a life time, (have a good sleep) Your money will grow, in great numbers, (in times to come) Be comforted, plenty will be left when the end has come. Chorus: I’m not for glory I’m not for fame I’m not for anything Only money in my mind The above is copyrighted by redbean

Double cuts for top civil servants and ministers

Many of you are just looking at the 19% pay cut for ministers, top civil servants and the President. Actually the cut is deeper and much more than reported. You must remember that they were underpaid according to the benchmark and are due for a third adjustment in January next year. To take a pay cut of 19% from their current salary is thus short changing them. Technically, they should get their adjustment in January first to put their salary to their rightful place. Then the 19% cut can come in. That will be only fair. What's happening is that they did not get what they should get and got a cut instead. Then there is Hsien Loong who has pledged to donate his last pay rise to a charity. Now he will be worst off than the rest. He did not benefitted from the last increase like everyone else, and still kena cut as well. Someone did not do the sums right this time.

Myth 196 - Toxic or not Toxic

The minibond and high notes case is still unsolved and the general impression is that they are toxic, or this is what they are called. But the only people using this term are the critiques and those badly affected by them. The media conveniently used the term as a reflection of the general sentiment. But are they toxic? Till today, the creators and issuers of these products have never admitted that they are toxic and not been charged. Selling toxic products must be a criminal act as there must be more dangerous than just drug abuses And the financial institutions selling them too have never admit this new status. Neither have the regulators. The official view, if I am not mistaken, is that they are just high risk financial products offering a relatively higher return. They are perfectly legitimate financial products that can be marketed to the investors. And we are hearing nuances from financial institutions that new products of similar nature may still be offered some time in the future. So, are these products toxic? Officially and legally theyare not. Or else all the parties would have been dragged to the courts for a criminal act.

A home song - 7

The legend of Sago Lane She’s the legend of Sago Lane A haunting figure of the past Before the sunrise she was there Heaving and pushing her towering wares She had no recollection of her years Did not remember anyone that was dear What she did today, tomorrow and thru the years She did the same everyday, and every year She could be a good looker for all you know The darling daughter of a mother, we were told Or the pride of some dashing suitors already past Never would she know how things had gathered dust Her stature had diminished with the ravages of time Standing with a stiff hunch, she was half her height With cardboards stacked high in her cart Stretching her neck, she could see not much ahead Chorus In a city without tears Where the wealthy indulged all thru the years Parties and celebrations in glittering lights There’s another world in the city, under the amber glow of backstreet lights. The above is copyrighted by redbean