From affordable housing to affordable medicare and affordable water bills. Singaporeans are so lucky. All the ministers are working so hard to make housing, medical and water for bathing affordable. Why are they still complaining? Ingrates or unthinking? Please go down on your knees and show your gratitude.
There was a bundle of data on water fees and water bills shown in Parliament by Vivian in reply to Low Thia Khiang. The total cost ‘to operate Singapore’s water treatment and reclamation plants and sewerage system’ is $1.3b annually. The revenue collected, $674m in water tariffs and $327m in waterborne and sanitary appliances fees. Immediately I notice the huge subsidy that the govt is providing for water usage. If not, then the whole operation is a big loss. Better to privatise it to make it more efficient. I got no details to put under the microscope to read further about how 3c per cubic meter water can cost so much and still operating at such a loss. Someone please correct me if it is no longer 3c. I know this has been going on for donkey years.
Whatever the data say, the most important statement by Vivian is that ‘the Govt will ensure that water remains affordable for everyone.’ This is the most pleasant message, like music to the ears.
3/07/2012
NS allowances up $60
More recognition for NS men. There will be an across the board increase of $60 for all NS men beginning next month. Recruits will be getting $480 and a Lieutenant will be getting $1,180. This is a very handome increase given the fact that citizens with a monthly income of $1000 can afford to buy a 2 rm HDB flat.
From the above figures, a recruit can now afford such a flat if his girl friend is working for anything less than $1000 pm. A Lieutenant will definitely find it very comfortable with his single income to buy such flats. Only problem is that he may be disqualified if his girl friend is earning more than $1000. He could only by pass this ruling if his girlfriend stops working until they got their keys.
The NS men must be feeling very rich and smiling all over for their new found fortune. The quality of their lives will definitely be better, by $60. It makes their sacrifices so much more rewarding.
From the above figures, a recruit can now afford such a flat if his girl friend is working for anything less than $1000 pm. A Lieutenant will definitely find it very comfortable with his single income to buy such flats. Only problem is that he may be disqualified if his girl friend is earning more than $1000. He could only by pass this ruling if his girlfriend stops working until they got their keys.
The NS men must be feeling very rich and smiling all over for their new found fortune. The quality of their lives will definitely be better, by $60. It makes their sacrifices so much more rewarding.
Property prices, the $64k question
Anyone suggesting that property prices to come down or HDB to lower the sale price of its new flats is likely to be met with anger from all property owners. This is natural as many have sunk in a lot of money and falling property prices will affect a lot of people adversely.
On the contrary, property prices just cannot keep going up without killing the new buyers. The current suggestion that a $1000 pm income is enough to buy a 2 rm flat is quite enlightening. The govt is prepared to cough out a $60k grant leaving a net price of $40k for the flat which is a steal in today’s hot property market. It is even cheaper than rental, mind you. So why isn’t there a rush to buy such flats? There was a post by a divorcee with two kids and $60k cash in her savings. And she chose to rent a flat for fear of losing her $60k if she buys a flat. Why didn’t she be allowed to buy a $40k 2rm flat instead and free herself from the rental market and with a net gain of at least $100k should she sell her flat?
Anyway, that is another matter. What I am looking at is the opportunity for the govt to sell HDB flats to first time owners at substantially reduced price with a similar grant of $60k or $100k proportional to the size of flats without rocking the market prices. Make this an exclusive offer to Singapore citizens who have done their fair share of NS and are buying flats for the first time. Make this a privilege to be citizens, and ownership of a flat an entitlement for citizens who have pledged to defend this country with their lives. The new and young leaders have forgotten the importance of owning a roof over one’s head and how this policy was the pillar of our national building in the beginning of our nationhood. They prefer to force those who are earning a bit more, or fail to qualify under HDB rules, to lose all their money paying the private developers or end up with no homes. Citizens without a roof over their heads will take the next natural step, migrate. And their places will be filled by new ingrates. Is this a sound exchange?
By giving a substantial grant on a one time basis, the market price should not be shaken as theoretically the new buyer is still buying at the HDB list price. And by not offering to PRs, or to new citizens unless they have served NS and with a qualifying time period of say 5 years as a citizen, it will make a significant difference between citizens, new citizens and non citizens. And it is the biggest acknowledgement by the govt that this country believes in citizens first and the citizens have something worthy to defend and lay down their lives for. It will be very costly for new citizens who chose to avoid NS or to rubbish the contributions of NS men.
It is a win win situation as unwinding the prices of HDB flats is a no go and not unwinding is going to empty the savings of new flat buyers. It is a social contract and something very tangible that will benefit both citizens and the govt/state and not making the present owners feeling sore with falling property prices.
Would the govt seriously review the relationship between state and citizens and put the interests of its citizens and state above all other considerations? This is a major commitment by the govt, a statement of faith to the people, to its loyal citizens, instead of throwing money to still unknown new citizens and non citizens like scholarships that will incur more anger from the citizens. And to rub salt into the wound, they sell their HDB flats with a tidy profit and go on to seek greener pasture.
Why can’t the govt do something really beneficial to its own citizens for once? The lower income earners need help and so do the middle income earners. It is a serious matter to cough out a few hundred thousand bucks just to buy a roof over one’s head.
Believe me, the govt will win a lot of hearts and votes for such a pro citizen policy and will lose a lot of votes for pro new citizens and foreigner policies.
On the contrary, property prices just cannot keep going up without killing the new buyers. The current suggestion that a $1000 pm income is enough to buy a 2 rm flat is quite enlightening. The govt is prepared to cough out a $60k grant leaving a net price of $40k for the flat which is a steal in today’s hot property market. It is even cheaper than rental, mind you. So why isn’t there a rush to buy such flats? There was a post by a divorcee with two kids and $60k cash in her savings. And she chose to rent a flat for fear of losing her $60k if she buys a flat. Why didn’t she be allowed to buy a $40k 2rm flat instead and free herself from the rental market and with a net gain of at least $100k should she sell her flat?
Anyway, that is another matter. What I am looking at is the opportunity for the govt to sell HDB flats to first time owners at substantially reduced price with a similar grant of $60k or $100k proportional to the size of flats without rocking the market prices. Make this an exclusive offer to Singapore citizens who have done their fair share of NS and are buying flats for the first time. Make this a privilege to be citizens, and ownership of a flat an entitlement for citizens who have pledged to defend this country with their lives. The new and young leaders have forgotten the importance of owning a roof over one’s head and how this policy was the pillar of our national building in the beginning of our nationhood. They prefer to force those who are earning a bit more, or fail to qualify under HDB rules, to lose all their money paying the private developers or end up with no homes. Citizens without a roof over their heads will take the next natural step, migrate. And their places will be filled by new ingrates. Is this a sound exchange?
By giving a substantial grant on a one time basis, the market price should not be shaken as theoretically the new buyer is still buying at the HDB list price. And by not offering to PRs, or to new citizens unless they have served NS and with a qualifying time period of say 5 years as a citizen, it will make a significant difference between citizens, new citizens and non citizens. And it is the biggest acknowledgement by the govt that this country believes in citizens first and the citizens have something worthy to defend and lay down their lives for. It will be very costly for new citizens who chose to avoid NS or to rubbish the contributions of NS men.
It is a win win situation as unwinding the prices of HDB flats is a no go and not unwinding is going to empty the savings of new flat buyers. It is a social contract and something very tangible that will benefit both citizens and the govt/state and not making the present owners feeling sore with falling property prices.
Would the govt seriously review the relationship between state and citizens and put the interests of its citizens and state above all other considerations? This is a major commitment by the govt, a statement of faith to the people, to its loyal citizens, instead of throwing money to still unknown new citizens and non citizens like scholarships that will incur more anger from the citizens. And to rub salt into the wound, they sell their HDB flats with a tidy profit and go on to seek greener pasture.
Why can’t the govt do something really beneficial to its own citizens for once? The lower income earners need help and so do the middle income earners. It is a serious matter to cough out a few hundred thousand bucks just to buy a roof over one’s head.
Believe me, the govt will win a lot of hearts and votes for such a pro citizen policy and will lose a lot of votes for pro new citizens and foreigner policies.
3/06/2012
Another strategic acquisition for Singtel
Monday, Mar 05, 2012
AFP
SINGAPORE - Singapore Telecom said Monday that it will buy US mobile advertising start-up Amobee for US$321 million (S$401 million) to expand group revenues from ads and marketing across Asia.
SingTel, Southeast Asia's biggest telecom firm by revenue, said its 100 per cent buyout would boost mobile ad sales in India, Thailand, the Philippines, Indonesia, Bangladesh and Pakistan, where it has large affiliates.
"A vast majority of our 400 million (clients) are in emerging markets," said Allen Lew, chief executive of the SingTel Group's newly formed "digital life" unit announced Monday as part of a top-level reorganisation.
Citing data from technology research firm Gartner, Lew said the global mobile ad market is likely to exceed US$20 billion by 2015 from about US$7.0 billion this year, with 35 per cent of it generated in Asia-Pacific.
Amobee, founded in 2005 and based in Redwood City, California, has offices in Europe, Asia and Latin America....
Despite Amobee having unaudited net assets worth only US$600,000 as of November, Lew told a news conference SingTel was not overpaying for the firm with the all-cash acquisition.
"The way we value this company is not based on the net tangible assets. We value this company based on what we think is eventually going to be worth." ....
This must be another great strategic acquisition for Singtel to grow its business. It must be value for money.
AFP
SINGAPORE - Singapore Telecom said Monday that it will buy US mobile advertising start-up Amobee for US$321 million (S$401 million) to expand group revenues from ads and marketing across Asia.
SingTel, Southeast Asia's biggest telecom firm by revenue, said its 100 per cent buyout would boost mobile ad sales in India, Thailand, the Philippines, Indonesia, Bangladesh and Pakistan, where it has large affiliates.
"A vast majority of our 400 million (clients) are in emerging markets," said Allen Lew, chief executive of the SingTel Group's newly formed "digital life" unit announced Monday as part of a top-level reorganisation.
Citing data from technology research firm Gartner, Lew said the global mobile ad market is likely to exceed US$20 billion by 2015 from about US$7.0 billion this year, with 35 per cent of it generated in Asia-Pacific.
Amobee, founded in 2005 and based in Redwood City, California, has offices in Europe, Asia and Latin America....
Despite Amobee having unaudited net assets worth only US$600,000 as of November, Lew told a news conference SingTel was not overpaying for the firm with the all-cash acquisition.
"The way we value this company is not based on the net tangible assets. We value this company based on what we think is eventually going to be worth." ....
This must be another great strategic acquisition for Singtel to grow its business. It must be value for money.
Blimey, the govt is still talking about affordable housing
Tan Chuan Jin ‘said that his ministry tracks “very closely” the incomes of Singaporeans, to make sure that HDB flats are priced and subsidised so they’re affordable at different income levels.’
What is the govt’s definition of affordable housing? Two pay checks and 30 years to pay the mortgage. Right? Affordable in the past was one pay check and 15 to 20 years to pay. The difference between the two formulas for affordability is like heaven and hell. In the first formula it means two persons working for 30 years and leaving not much for retirement. Further, with two persons working, there is no way for the wife to stop work and look after babies as there will not be enough to pay the housing loan. See where is the source of baby problem?
In the second formula, the wife has the option to work which will provide more extra cash for a better and less financially stressful lifestyle. And if the wife so chooses to make more babies, it will not hurt the repayment of the mortgage. And in 15/20 years, the loan will be fully paid up and the rest can go to their retirement savings.
Both formula are technically right in terms of affordability. But one means work and work and hope that nothing goes wrong with the income before the loan is fully repaid. The other has a lot more slack without both spouses working to keep up with repayment of the loan.
What kind of quality of life and what kind of affordability are we talking about? This is the same kind of situation where some jokers said the island can take in 6m or 9m people while some say 5m is already too much. Everyone is right but at what cost and what consequences.
So very affordable huh? $1000 pm income can afford a 2rm flat. What about the life of the family? What kind of life? Would Tan Chuan Jin’s ministry track the affordability of one income and work on that basis and not one that would empty the savings of two incomes?
What is the govt’s definition of affordable housing? Two pay checks and 30 years to pay the mortgage. Right? Affordable in the past was one pay check and 15 to 20 years to pay. The difference between the two formulas for affordability is like heaven and hell. In the first formula it means two persons working for 30 years and leaving not much for retirement. Further, with two persons working, there is no way for the wife to stop work and look after babies as there will not be enough to pay the housing loan. See where is the source of baby problem?
In the second formula, the wife has the option to work which will provide more extra cash for a better and less financially stressful lifestyle. And if the wife so chooses to make more babies, it will not hurt the repayment of the mortgage. And in 15/20 years, the loan will be fully paid up and the rest can go to their retirement savings.
Both formula are technically right in terms of affordability. But one means work and work and hope that nothing goes wrong with the income before the loan is fully repaid. The other has a lot more slack without both spouses working to keep up with repayment of the loan.
What kind of quality of life and what kind of affordability are we talking about? This is the same kind of situation where some jokers said the island can take in 6m or 9m people while some say 5m is already too much. Everyone is right but at what cost and what consequences.
So very affordable huh? $1000 pm income can afford a 2rm flat. What about the life of the family? What kind of life? Would Tan Chuan Jin’s ministry track the affordability of one income and work on that basis and not one that would empty the savings of two incomes?
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