More remisiers needed?

SGX wanted to boost the strength of remisiers by another 1000. Several broking houses are in the market looking for another couple of hundred remisiers each. Aren't these going against the conventional wisdom that the stockmarket shall go online and there is no need for remisiers? There was a time when the mantra was that machines could replace the role of remisiers but now we are hearing calls for more remisiers. Wonderful! Does it work to have more remisiers? Looking at the volumes traded in the market, at times as high as 2 billion shares daily, many of the remisiers were waiting for their phones to ring. Long were the days when the phones were ringing non stop once the trading volume hit 1 billion shares. What's happening? And the past few days the volume dwindled to less than a billion, and yesterday was the lowest to date, at 788 million shares. What were the remisiers doing? Swapping mosquitoes? Now, if the volume is going to be so anaemic, what would the addition of another 1000 remisiers do to the market? More volume or the same volume divided by another 1000? I have written in the past that once the retail investors have been sent to the cleaners, the next will be the remisiers. And when the remisiers too are emptied of their pockets, the funds and trading houses will only be trading among themselves. And looks like this day is getting nearer than I anticipated. How did the market get to this pathetic state? What is wrong with the market or the system? Is the system healthy or sick?

Yes we are world champion!

The WTTF victory has generated many discussions in the media and cyberspace, including mysingaporenews. The main argument centres on foreign talents versus local talents. Let me take the issue a little further by asking why are we doing this? What are we trying to achieve and for what? Is the glory of being world champion something so important to us that we should devote so much energy and resources to recruit foreign talents to make us feel good? Is it about national pride or is there an economic angle to it? Or would someone say it is about nation building, or a way to motivate our future champions? In Europe, particularly in football, buying foreign talents is a big thing and big money. It is big business, a big industry that generates economic activities and income, jobs etc etc. It is a business that extends beyond national boundaries. We too are spending hundreds of millions to watch football. The bottom line is big profits. I think we are very far from that in table tennis. It is still a national cost, a big hole where money is being poured into it when it could be used better in other areas. Maybe we have too much money and this small sum is insignificant and we can do without. Even in football, when players are bought and sold like assets, when it comes to the World Cup, the players, or most of them, will return home to play for their national teams. Not many national teams would want to field non nationals or newly bought nationals to don their colours to win football glory. It is unthinkable for Brazil, Ivory Coast, India, Japan, Korea or even Malaysia, to flirt with buying foreign footballers to win the championship. Table tennis is exceptional because many countries are doing it, from the US, Europe, across Asia to Oceania, the Chinese are exporting their table tennis players to these countries who are willing to pay for them. To the Chinese, it is an economic activity, and also they have an abundance of talents. Any difference between football and table tennis? In football, it is the commercially run football leagues that are trading talents. In table tennis, what league, representing who? What are we in for? Why are we importing foreign talents in sports for?

A local talent's future destroyed

Ang Jun Heng is a straight As student from Raffles Institution. He intends to apply for a SAF Scholarship to read Engineering. His future is, or was, very bright. Now he is lying in the hospital with severe cuts and injuries to his whole body and hoping that his reattached 4 fingers could heal and return to normal. Jun Heng was one of the unfortunate victims of the brutal robbery and savage attacks on several people by some foreign workers from Sarawak. Though most of attackers have been arrested except one, and some facing death penalties, none of these will be able to return Jun Heng his normal life and his bright future. I hope the authority will come down hard, extremely hard, on these foreign criminals who were given a chance to make a good start here but instead brutally attacked our citizens and hacking their victims with knives like savages. There must be no mercy shown to them. I would advocate that there should be another harsher laws for foreigners commiting violent crimes against our citizens. We were so nice to them, welcome them to our homes, spent monies to organise parties to make them happy here. And this is our just rewards. This is not an anti foreigner article. The good and law abiding ones are still welcome. For those who resort to vicious crimes against our citizens, let it be known that the law will come down very hard, doubly hard, on them. They must not return our generosity and kindness by harming our people.

Big and little Empires and their rights

At the Shangri La Dialogue, the US Defence Secretary Robert Gates pooh poohed the cutting off of contacts by the Chinese military with the Americans on the ground that the US was selling arms to Taiwan. He proudly told the delegates that the Americans have been doing so openly all these while so why the big fuss? He should also tell the delegates that the Americans also have a treaty to defence Taiwan should it be attacked by China. And Taiwan is a breakaway island from China. He should tell the delegates that for centuries the colonialists have ruled over the Asians, Africans and Americans, so it is alright if they continue to do it, openly. What this representative of the Empire did not know is that the Empire can do anything it wants as long as the subject nations under the Empire are too weak to talk back. The point is that the Empire forgets that once a subject nation is no longer a push over, it is not going to be dictated by the one sided rules and terms of the Empire. The balance of power as changed. And he went on to tell the subject nations in the Dialogue that the Empire will look at more options to punish North Korea for the alleged sinking of the Cheonan. He took it for granted that the one sided investigation by the Empire and the evidence produced are final, and the rest of the world must accept them as the ultimate truth. This truth and evidence cannot be questioned. The Empire is the arbiter and the judge and the executioner. Was he cocky, ingnorant or still believes the Empire calls the shot? In the eastern Mediterranean Sea there is a little Empire telling the countries in the region who is the boss. They control the sea, the land and the air. They will police the region and will take over any ships, vessels or vehicles moving without their approval. The countries in the region will just have to live under the rule and authority of the little Empire. And this state of affair will go on forever until such a time when there are capable countries that could challenge the balance of power there. In the meantime, the little Empire shall call the shot, like it or not. The big Empire will look the other way, and the UN will simply disappear knowing where it stands. So will other little European Empires. They share the spoils and divide the areas of influence among themselves.

Protest against Telcos in Hong Lim

Football fans staged a protest at the Speakers corner to show their displeasure against Singtel and Starhub for the high prices for the World Cup matches. By next week the two telcos are likely to come up with their facts and figures to prove how affordable and reasonable these prices are, and the protestors just have no case. This is the correct Singaporean way of communicating with the people. And after that, case close, no more issue. With only two or three telcos here, and running as private companies answerable only to their shareholders for profits, the football fans shall count themselves lucky that the prices are so affordable. In fact any price is also affordable as long as there are fans who can afford to pay for it. What is the message that the protestors were trying to make? Is it a reminder to the super talented CEOs that they should not take the consumers for granted and that they can pay any prices only to pass the buck to the helpless consumers? And they can still make handsome profits knowing that the consumers just have no choice but to pay. I think we need more of such protests to register the point. If not, such reckless behaviour is bound to repeat over and over again.