The GE is imminent

Many are guessing when the next GE will be held. Given that this govt is only entering its fourth year in office, many are expecting the GE to be in 2015 earliest. There has been no precedence for the PAP to hold another GE anytime so early.
 
There have been signs that the govt is finalizing all the administrative matters for the next GE. The electoral roll has been compiled and finalized. A lot of goodies have been rolled out and a few more to complete the giveaways. The PAP MPs and ministers have been busy doing their walkabouts. Some bad policies have been moderated and some nice and humbling comments have appeared in the main media. Two things are waiting to happen before the game is set, the redrawing of precincts and the rolling out of new candidates.
 
For the latter, it has started. In today’s media, two PAP potential candidates have been named, a Chan Hui Yuh and a Kahar Hassan. It is likely that more new faces will be put up in the coming weeks. When this is done, announcing the new precincts is only a matter of days. Just watch the media closely.
 
The dreaded social media could be easily reined in with the new regulations in place and their voice muted if needed be. Now the big question, could the GE be called any time sooner, this year?
 
Do not be surprise as this would catch the oppositions with their pants down.
 
So, what do you think?

NKF has 8 years reserves!

Leong Sze Hian was quite disturbed by NKF’s 8 years reserves and still wanting to start raising more funds. According to Leong Sze Hian, in year 2013 NKF still had a surplus of $6.6m, not negative or drawing down from its reserves. Actually hor, the reserves should have another $6.6m added. Is this bad? The reserves as at June 2013 stood at a handsome $260m. The $6.6m will mean a growth of 2.5%.
 
Maybe Leong Sze Hian should look at it from a different perspective. As far as reserves are concerned, the more the better. Maybe NKF would want to target a 10 year reserves, or even a 20 year reserves. Maybe NKF could be thinking of turning its reserves into another SWF to generate more returns and be self sustaining like GIC and Temasek. When NKF’s reserves can be self sufficient then it would not have to raise funds in the future right? Won’t that be nice?
 
Another way to look at it, the reserves would need growth to look good. The right number would be a 10% growth, a little less than the SWFs. Growth is good for sure. Everyone wants growth, so it is normal for NKF to want to grow its reserves. And there could be more people needing dialysis from NKF in the future. And it is always good to be ready for that rainy day. These types of logics cannot be faulted right?
 
I think, to cover front side and back side, and every possible scenario, NKF should target to have a reserve of 30 years. Then everyone can sleep well at night just like our CPF, so much money after retirement. Die already still go a lot of money to spend. Jiat buay liao.
 
What do you think?

The Singapore Spinning Wheel

For those who have kept white mice as pets they must be familiar with the sight of white mice peddling furiously on a spinning wheel in the glass enclosure. When the mice are tired, they could hop off the wheel to take a break. It is a kind of exercise for the mice in a small enclosure. In some experiments, the white mice were entrapped and will run themselves to death.
 
Singapore is like a large invisible spinning wheel to many of its residents. Other than the super rich, the rest of the inhabitants would have to mount the wheel and keep running. Anyone who stops would fall off and may be squashed. The thing about this spinning wheel is that it must keep running on the steam of the residents and falling off is like falling into self destruction.
 
For the majority of the Sinkies, they would have to run on the wheel non stop for life, no retirement. There is no other option. And they are prepared from very young to be fit and strong, not lazy and weak. Everyone is born to run this race, and the govt demands more children to be put on the wheel to keep it spinning ever faster and faster.
The people that are exempted from this race are the rich and super rich locals, citizens or PRs. They are the privileged class that is spared this ordeal.
 
The not so well off foreigners are also brought in to run on the wheel to keep it spinning. The only difference, these foreigners could jump off the wheel and run back to their home countries, cashed out to live a life of plenty. They know what they are doing, they are willing to run on the wheel. And they know that when they have had enough, they sort of jump ship and say good bye to the wheel and those running on it.
 
The Sinkies have no choice but to run and run until they drop dead. They cannot afford not to run. And they have been told that it is also their responsibility to give birth to more babies to run on the wheel like them. No one is questioning the goodness of running on this wheel and the ever faster and faster speed needed. No one can slow it down. It is expected to run faster, not slower, a happy and desirable thing, a no choice thing, for the Sinkies. They are born to run on the unstoppable spinning wheel.

Kopi level- Green. Thank you.

Tan Kin Lian angry with LTA spending $68m on bus management system

I was very angry when I read the news that the Land Transport Authority (LTA) has awarded a tender of $68 million for an intelligent bus management system. Link. The benefit to consumers is described in this sentence, “ With more accurate bus arrival information, commuters can better plan their journeys and travel options.”
 
Actually I have the same feeling when I read that but did not want to blog about it. Well, since Kin Lian is talking about it, might as well put in my 2c worth. One thing, $68m is just a bigger peanut. In this obscenely rich city, everything is about a few hundred millions or in billions. So what is $68m? Just add a few cents hike to the fare and it would be paid by the commuters. What is so big deal?
 
Incidentally I checked my MRT fare yesterday and found that it has gone up by 3c for my daily trip. I am going to check on this to confirm that there is an increase and to find out when it happened and why it was not announced. I need to confirm this evening with the machine. Anyone notice the increase as well? Please check and see if it is true.
 
The bus management system is not going to cost only $68m. You would need people to manage and maintain the system and add to the overheads of running the buses. There will be installation cost as well, or is it already included? Then the promotion and educating the public cost as well. How much more would it cost and how much goodness would it give or benefit the operators and the commuters? Or is it just another thermometer to read the temperature?
 
What would be the total cost for this great management system and is it really necessary? Many countries could run an efficient bus system without having to pay for such a multi million dollar management system so that the academics and analysts got more data to analyse. I remember about mapping the topo of the island to know where the next flood is going to be. Dunno if they paid for it.
 
But, what the hell, it is only $68m. All small change lah.

Bangkok, the clock is ticking

Bangkok is living under the tickings of a time bomb. The impasse between the govt of Yingluck and the protestors led by Suthep is heading for a grand explosion. The pressure is mounting with the anti govt using every ruse they could find to frame charges against PM Yingluck. And National Anti Corruption Agency and the Judiciary are anything but neutral govt institutions bent on removing Yingluck.
 
Yingluck has been accused by Suthep that she is only a puppet of her brother Taksin. Who else are also puppets in Thai politics? Ahbisit has wisely stayed away and not be pulled by a string attached to his back. And so has the Army. Is Suthep also a puppet of some forces or political master? Is the National Anti Corruption Agency or the Judiciary also puppets acting and kicking when the strings are pulled? Who is this powerful puppeteer that has the power to pull the strings behind Suthep, NACA and the Judiciary? Or are these three elements really independent political powers acting on their own to remove Yingluck and her families from Thailand, and to confiscate their family businesses and fortunes for the good of Thailand? Is this not robbery?
 
Who could dictate and exercise such sweeping objectives, to remove families and clanships, businesses and fortunes of a group of Thai citizens from the country above the laws? Whoever that be, the clock is ticking too. And the pro govt Red Shirts are not going to let their chosen govt be removed from office. A street battle for the right to rule Thailand is being prepared by both sides and it looks like bloodshed, very serious blood letting, is going to happen on the streets of Bangkok, very soon.
 
The death of the Thai people seems to be the least of concern of the leaders on both sides. It is all an issue of political power and supremacy. The losers in this battle will lose real bad and there will be no way to make a comeback once violence breaks out till a victor is announced. Thailand is going to pay a very heavy political price in blood.