By Kopi Lim
Paradise Island, Dec 21 (Roosters)
Buying a train ticket in
Paradise Island may not be a cakewalk anymore.
Under the new commuter-protection rules that take effect Jan 1,
commuters in the tightly controlled island must possess
certain educational qualifications related to taking public transportation or have
relevant train boarding experience to buy train tickets directly.
Those who fail to meet the Transport Authority of Paradise
(TAP) requirements must take a series of on-line tutorials on
the Transport Interchange website, and answer the
questions correctly in order to qualify to buy train tickets.
All commuters are given a grace of one year period to pass this test or they will not be allowed to buy train tickets anymore.
12/21/2011
What’s this, brilliant or what?
There are many ways to skin a cat. One way to stop investors from investing in dangerous/sophisticated products they don’t understand is to make them sit for a test to make them fit or safe for the product. Another way of course is to make sure that dangerous/sophisticated products are safe before selling. Is making investors sit for the test not akin to passing the buck to the investors? This is better than caveat emptor. Disqualifying dangerous/sophisticated products leaves the responsibility with the regulator to make certain they are safe for consumption.
Which of the two methods is more efficient? One involves a lot of investors and potential investors to sit for the test. Now why would a customer want to buy a complicated/dangerous sports car if he has to sit for a test to ensure that he knows the danger of the car and cannot complain later? And why would potential investors want to sit for a test if they are not even sure of investing in the product? Does it mean that whenever a new product is launched, and if not covered by the test, the buyers must resit for another new test?
Would it be more efficient for the authorities to vet the products like the HSA checking edible products before allowing them into the market? Can’t imagine every individual would have to sit for a test before they are allowed to buy a new food product. Or should commuters be required to sit for a test, to know the nature of the train, before being allowed to board a train?
This kind of logic is Uniquely Singapore. The people must qualify themselves ie know the danger of the product they are buying before being allowed to buy it. The seller does not need to make sure that the products are safe. Can a seller sell snake oil if the buyer has passed a test on what is snake oil?
Below is an extract of an article by Kevin Lim of things to come.
By Kevin Lim
SINGAPORE, Dec 19 (Reuters) - Buying a mutual fund in
Singapore may not be a cakewalk anymore.
Under new investor-protection rules that take effect Jan 1,
investors in the tightly controlled city-state must possess
certain educational qualifications related to finance or have
relevant work or trading experience to buy funds directly.
Those who fail to meet the Monetary Authority of Singapore's
(MAS) requirements must take a series of on-line tutorials on
the Singapore Exchange website, and answer the
questions correctly in order to qualify to buy the funds, in
what could be a first for investors anywhere in the world.
Thousands of Singaporeans lost money investing in supposedly
low-risk Lehman Brothers-linked "Minibonds" in 2008. The new
rules follow a review by the country's monetary authorities.
The regulations have been sharply criticised by some fund
managers who fear a loss of business.
" Asking investors to pass a test to
invest could be a deterrent to investing," said Francois Mouzay,
head of fund development and services in Asia-Pacific for BNP
Paribas Investments Partners….
Which of the two methods is more efficient? One involves a lot of investors and potential investors to sit for the test. Now why would a customer want to buy a complicated/dangerous sports car if he has to sit for a test to ensure that he knows the danger of the car and cannot complain later? And why would potential investors want to sit for a test if they are not even sure of investing in the product? Does it mean that whenever a new product is launched, and if not covered by the test, the buyers must resit for another new test?
Would it be more efficient for the authorities to vet the products like the HSA checking edible products before allowing them into the market? Can’t imagine every individual would have to sit for a test before they are allowed to buy a new food product. Or should commuters be required to sit for a test, to know the nature of the train, before being allowed to board a train?
This kind of logic is Uniquely Singapore. The people must qualify themselves ie know the danger of the product they are buying before being allowed to buy it. The seller does not need to make sure that the products are safe. Can a seller sell snake oil if the buyer has passed a test on what is snake oil?
Below is an extract of an article by Kevin Lim of things to come.
By Kevin Lim
SINGAPORE, Dec 19 (Reuters) - Buying a mutual fund in
Singapore may not be a cakewalk anymore.
Under new investor-protection rules that take effect Jan 1,
investors in the tightly controlled city-state must possess
certain educational qualifications related to finance or have
relevant work or trading experience to buy funds directly.
Those who fail to meet the Monetary Authority of Singapore's
(MAS) requirements must take a series of on-line tutorials on
the Singapore Exchange website, and answer the
questions correctly in order to qualify to buy the funds, in
what could be a first for investors anywhere in the world.
Thousands of Singaporeans lost money investing in supposedly
low-risk Lehman Brothers-linked "Minibonds" in 2008. The new
rules follow a review by the country's monetary authorities.
The regulations have been sharply criticised by some fund
managers who fear a loss of business.
" Asking investors to pass a test to
invest could be a deterrent to investing," said Francois Mouzay,
head of fund development and services in Asia-Pacific for BNP
Paribas Investments Partners….
Great opportunity to save the North Koreans
The death of Kim Jong Il is so worrisome to countries in the West, especially the US and its allies. The immediate neighbours living in fear are Japan and South Korea. Soon the Asean countries will be having nightmares too, that the mad North Koreans will be sending their nuclear tipped ICBMs to attack them. Now I am not sure who are the really mad ones.
Other than Mao Tse Tung, no dictator has suffered such a painful and gruesome death than Kim Jong Il. Oh I forgot to add, his father Kim Il Song too suffered a painful and horrendous death. The other dictators like Marcos, the Shah of Iran, Saddam and Gaddafi, all died in circumstances they deserved.
Why are the two Kims different, that the North Koreans are all mourning for their deaths and would even built mausoleums to honour them? The above paragraph talking about their painful and gruesome is just a wild imagination by people who sincerely believed that they were evil and will be punished by their own people or by God. But God is not going to be cheated or conned by the evil human beans who spread lies and misinformation about the two Kims. The two Kims died peacefully and are well loved by their ‘poverty stricken and oppressed’ citizens. Unbelieveable to those who blindly believe the Western media and think they were mad or evil dictators.
They are not. Sure there will be some dissidents who would love to criticize and attack them and think that the country would be better off like the Western countries. Even paradise will have its dissidents.
I have been scrutinizing all the recent photographs and news clips coming out from that country. Tell you the truth, for a picture tells a thousand words. The North Koreans are well fed and well dressed, even the sales persons in the dept stores. They are not like those skin and bones people of the third world. They are very well dressed with fats on their faces.
Please lah, remove your blinkers and look at the North Koreans objectively as they really are. But someone is seeing great opportunities to save and liberate these poverty people, all dying of hunger. Hilary Clinton is having closed door meetings with their two colonies, Japan and South Korea, to move in to save the North Koreans from poverty. I dunno how many countries will be involved. It is a great mission of peace and compassion. Asean and India would probably want to join this noble invasion of North Korea, before it becomes a province of China.
The sad truth is that North Korea will remain as an independent nation to disappointment these evil do gooders. And another truth is that both Japan and South Korea are the real provinces of the US.
While the North Koreans mourn, while China shares its sorrows, the West is whipping up horror stories about how dangerous the world has become because of the death of Kim Jong Il. The world is in serious danger unless they invade this country to keep peace and harmony and to save the North Koreans from another mad young boy in the name of Kim Jong Un. Really frightening man!.
What is mad? Don’t be so gullible lah.
Other than Mao Tse Tung, no dictator has suffered such a painful and gruesome death than Kim Jong Il. Oh I forgot to add, his father Kim Il Song too suffered a painful and horrendous death. The other dictators like Marcos, the Shah of Iran, Saddam and Gaddafi, all died in circumstances they deserved.
Why are the two Kims different, that the North Koreans are all mourning for their deaths and would even built mausoleums to honour them? The above paragraph talking about their painful and gruesome is just a wild imagination by people who sincerely believed that they were evil and will be punished by their own people or by God. But God is not going to be cheated or conned by the evil human beans who spread lies and misinformation about the two Kims. The two Kims died peacefully and are well loved by their ‘poverty stricken and oppressed’ citizens. Unbelieveable to those who blindly believe the Western media and think they were mad or evil dictators.
They are not. Sure there will be some dissidents who would love to criticize and attack them and think that the country would be better off like the Western countries. Even paradise will have its dissidents.
I have been scrutinizing all the recent photographs and news clips coming out from that country. Tell you the truth, for a picture tells a thousand words. The North Koreans are well fed and well dressed, even the sales persons in the dept stores. They are not like those skin and bones people of the third world. They are very well dressed with fats on their faces.
Please lah, remove your blinkers and look at the North Koreans objectively as they really are. But someone is seeing great opportunities to save and liberate these poverty people, all dying of hunger. Hilary Clinton is having closed door meetings with their two colonies, Japan and South Korea, to move in to save the North Koreans from poverty. I dunno how many countries will be involved. It is a great mission of peace and compassion. Asean and India would probably want to join this noble invasion of North Korea, before it becomes a province of China.
The sad truth is that North Korea will remain as an independent nation to disappointment these evil do gooders. And another truth is that both Japan and South Korea are the real provinces of the US.
While the North Koreans mourn, while China shares its sorrows, the West is whipping up horror stories about how dangerous the world has become because of the death of Kim Jong Il. The world is in serious danger unless they invade this country to keep peace and harmony and to save the North Koreans from another mad young boy in the name of Kim Jong Un. Really frightening man!.
What is mad? Don’t be so gullible lah.
Cornering the sheep
Four more taxi companies are following ComfortDelgro’s fare hike and this leaves only one company not doing so, Prime Taxis. It has just announced that it will follow suit. And the taxi drivers knew that they are going to suffer a loss in income for doing so and they die die must increase.
See the wonderful logic of Sinkie taxi drivers. They don’t care about their income and don’t care if passengers would refuse to take taxis. They just have to raise their fares. But now, with all raising their fares, what choice have the sheep got. This is perfect free market at play. It is all market forces.
Why huh? Very difficult to understand their thinking. I don’t think anyone is putting a knife at their throats. The fare hike is definitely voluntary and no collusion or else CCS will come after them for anti competition. It is like volunteering for a pay cut.
What a great sacrifice. Taxi drivers are taking pay cuts by hiking their fares. It is like telling the passengers we don’t need more fares. We will raise fares knowing that income will be lower. There must be some goodness out of this act. It cannot be all bad and the taxi drivers all daft to go ahead. What is the goodness of it all?
See the wonderful logic of Sinkie taxi drivers. They don’t care about their income and don’t care if passengers would refuse to take taxis. They just have to raise their fares. But now, with all raising their fares, what choice have the sheep got. This is perfect free market at play. It is all market forces.
Why huh? Very difficult to understand their thinking. I don’t think anyone is putting a knife at their throats. The fare hike is definitely voluntary and no collusion or else CCS will come after them for anti competition. It is like volunteering for a pay cut.
What a great sacrifice. Taxi drivers are taking pay cuts by hiking their fares. It is like telling the passengers we don’t need more fares. We will raise fares knowing that income will be lower. There must be some goodness out of this act. It cannot be all bad and the taxi drivers all daft to go ahead. What is the goodness of it all?
12/20/2011
An avalanche of mishaps
The recurrence of breakdowns over a few days is bad enough. But they said when it rains, it pours. It was pouring the last few days. And after the breakdowns, ceiling fell down and injured people in Sengkang MRT station. Then SMRT bus passenger fell and went into coma when driver braked abruptly.
What is going to happen next? Taxi drivers unhappy as takings fell by 20 to 30% instead of going up with the fare hike in time for Christmas. If the fare is not going up, instead of bonus and Christmas presents they are going to be angry. When unpleasant things all coming in a row, they tend to aggravate the situation to become unbearable.
This Christmas is going to be very different.
What is going to happen next? Taxi drivers unhappy as takings fell by 20 to 30% instead of going up with the fare hike in time for Christmas. If the fare is not going up, instead of bonus and Christmas presents they are going to be angry. When unpleasant things all coming in a row, they tend to aggravate the situation to become unbearable.
This Christmas is going to be very different.
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