Saving SGX

It took two petitions, one online and one offline, to pack Magnus Bocker off. SGX announced yesterday that he would be leaving by end of June. The important task at hand is how to save the SGX from the ICU? The state of denial that all is fine is not an issue to MAS. The main problem is whether MAS sees any problem with the pathetic or critical condition of the stock market. Is everything doing fine, more new investors signing up, more derivatives being traded good indicators of the health of the stock market? Or would the MAS look at the number of investors really trading and the value of trades done in the equity market, the number of remisiers leaving the industry,  and the pittance in commission being generated?

There cannot be any real solution to the dying stock market if the cause or causes of its demise are not diagnosed. Does anyone really know what is wrong with the stock market, wants to know what is wrong with the stock market and to do an overhaul of the failed system? Yes, it is a systems fault, its problem is systemic, not no lunch break, not smaller lot size, not super penny stocks, not dwindling volume and disappearing investors. These are only symptoms of the cancer that is crippling the market and would go naturally if the real cause of the failure is identified.

If MAS is still wondering where to start, go to Shanghai. The Chinese have been studying the American model of stock trading and knew exactly what is wrong and are not going to repeat the same mistake. They are offering Shanghai and Hongkong as the alternative system where computer trading involving super computers in HFT and algo trading would not be allowed, where large scale manipulations would not be allowed. They are returning to the basics of stock market operations. There is an article ‘China now gives investors an alternative to (the)manipulated HFT U.S. stock markets’  at www.examiner.com.

Computer trading with high speed computers plugged into the main system of a stock market is simply unfair trading, giving unfair advantage to the computer operators to manipulate and rob the rest of the investors in broad daylight.

And the last thing the SGX should do is to go globe trotting to hunt for another foreign talent to replace Bocker. It would be a replay of the pathetic story all over again as most of these talents would still be sold to the American model of computer trading and all its fraudulent ways.

The MAS is faced with a mammoth and arduous task to quickly disconnect all the toxic cables connected to the SGX main trading system. These external computers are like parasites sticking to the main trading system and sucking everything, every dollar from the investors.

The stock market must go back to its original role as a source of funds for the industries and not a casino. It must not be turned into a cheap gambling system for boys and girls to play with their pocket money. The boys and girls can go and play monopoly. The stock market is for the adults to invest, for the industries, the corporations to tap as a source of fund for growth and expansion. They can’t get the funds from little children in the schools.

The stock market must be X rated and not PG13.  The broking houses and the Society of Remisiers must use this window to work with the MAS to find a real solution to the serious problem the stock market industry is facing. Make the stock market do what it was originally supposed to do. We already have two casinos and there is no need for a third casino. The broking houses and the MAS have a common interest to want to see the stock market back in the pink of health.

What is the point of having more boys and girls signing up as potential investors when they are not investing? It is time to be real. Or would this opportunity be wasted and everything back to square one with the hiring of another foreign talent to do the same thing all over again, with the stock market fighting for its life in the ICU?

If I am the PM

I know this is as good a talking nonsense. No one can dream of becoming a PM unless he takes the first step to join a political party and become an Indian chief of a political party. I have not joined any political party so thinking of becoming a PM is academic. But it is quite fun really, to talk cock once a while. Many people did that. So let’s talk about this daydreaming.
 
Let’s say suay suay all the parties become minority parties and need to form a coalition govt but cannot agree on who to be PM. Then they look around for someone neutral and call Redbean to stand in as the PM. So I am the PM. I would want to be the most righteous PM, most caring PM, most pro Singapore PM, not necessary pro Singaporeans. I would like to even add, the most religious PM but that would only insult the religion that I professed to believe in. So I pass this one. I am no good and I have no religion so no need to pretend to be religious and spoil the good name of the religion.
 
OK, I must think Singapore first, always think Singapore first. This is not the same as the Singapore First Party. The latter thinks and wants to care for Singaporeans. I want Singapore to do well, to prosper, to grow into a vibrant and rich country at all cost. And to do that, it must have very good and clever people with the right qualifications and experience to govern the state.
 
I will start with the President. I will make the criteria for this appointment very stringent. Remember, he holds the second key to our reserves. So not anyone can offer himself as candidate to be President. See, I set very high standard for a good President to look after our reserves. He must have excellent credentials and experience in managing big money. I think someone in the finance industry like CEO of GIC, Temasek or DBS would qualify. Anything less no good. The President is all about guarding the reserves of the state so I think it is good to limit to finance people, top bankers and top fund managers. The rest no need to apply. Oh, PM and Finance Minister exempted, automatically qualified.
 
As for the politicians, MPs and ministers, they better be qualified or have knowledge on how to run a country. Yes, yes, they must know how to run a Town Council for a start, a prerequisite. But that is elementary. They must know the meaning of running a country and must be qualified or trained in government. Just because a person is a lawyer or doctor or engineer, or a general, does not make him good enough. Running a country means knowing everything, from being in the govt to running clans, trade unions, sports clubs and charity organizations. To be able to do these jobs, to become a ‘knows all’, they must have a degree in govt.
 
NUS and NTU must conduct a degree course on govt and anyone wants to stand for election to be in Parliament must have such a degree. You think running a govt is masak masak and any Tom, Dick and Harry with all kinds of unrelated qualifications and experience can just walk into Parliament and start to run a country. Cannot right? I am the PM so I decide what is best. I may even try out a candidate to catch rats. If cannot catch rats then not good enough. To me, since I am the PM, I regard catching rats very important, more important than running Town Council. Who is there to say I am being difficult?
 
Ok, exceptions. All incumbent MPs and ex MPs can be exempted from this degree course. They got experience mah. The new rule would apply to new politicians to be. As the new PM, I want to raise the bar to make sure only good people with the right experience and qualifications can stand for election.
 
See, I think only good for Singapore. Singapore will be very good, will go on forever and be prosperous forever under my premiership.
 
Agree or not? My conditions good or not?
 
Ok, Ok, I daydreaming only and pretending to be good PM.

A handout budget but something missing

Call it an election budget or whatever you like, it is a handout budget, full of handouts for the people. Everyone is going to collect an angpow somewhere along the line. The biggest and most welcome package would be the Silver Support Scheme. Remisiers would be happy to know that this scheme will be most appreciated as many will join the ranks for this handout. I doubt there would be many criticisms about the money handing out by the Govt other than some minor complaints of people missing out or not getting enough. I would leave the nitty gritty to the social scientists and statisticians to delve into the fine details.
 
I was looking for something else, the future of Singapore. This is what the Govt called this budget, a budget for the future of Singapore. I can see a lot going to education and technical training and some piece meal crumbs for middle management as an after thought that would not result in anything meaningful or substantive. We will be producing a lot of quality technicians and foot soldiers and also an appeased middle management.
 
The issue of PMEs is left blank. Nothing mentioned and very likely many will continue to join this rank and be beneficiaries of the Silver Support Scheme when they join the Silver Brigade. The other important and critical structuring that was left untouched or unsaid is top management. The technical schemes and support given to students would result in a lot of good technicians, a lot of little Indians.
 
What about the Indian Chiefs? Would Singaporeans be good enough only to be little Indians and the Indian Chiefs would still come from non Singaporeans, the so called foreign talents? Is our top world class education system and tertiary institutions real or just hogwash? Why is it that our graduates from these world class universities not making it to the top but being replaced by wild oats from God knows where and definitely not world class universities except those from the North? Do we believe in the quality of our education system, that our graduates should fill the top positions in govt and in the private sector?
 
Apart from the fetish craze that angmohs and foreigners are the best, and the colonial mentality that we are daft remnants or descendants of the British colonial regime, the leftovers, what is wrong with our people that they cannot become Indian Chiefs in their own country while most of these positions have to be filled by foreigners from banking and finance to sports and recreation? Many of these top positions do not require geniuses to do the job and many of the foreigners are not genius either but the average Joe in their country. Why are our top talents found wanting and being discarded?
 
Many years back, the finance industry was filled by our own local talents when there were govt initiatives and policies to ensure that. What is missing today? If we could do it then, we must be able to do better with our world class universities and top grade students. Where is the political will and decision to ensure that our own talents become the Indian Chiefs and not some unknown wild oats given a pink IC or not necessary even?
 
The budget did not mention anything about creating more true blue Indian Chiefs. The policy of bringing in more foreign Indian Chiefs and allowing govt and private sectors to fill the Indian Chief positions as they like is unchanged. The restructuring has left this out completely. Would the future Singapore be controlled and run by foreign Indian Chiefs with Singaporeans providing the little Indians and running around like little Indians and be happy with the situation as long as there are cheap handouts from the Govt?
 
Maybe the Govt would be addressing this restructuring to allow more Singaporeans to rise to the top in a separate White Paper. Do you really need the angmohs to run the parks and the zoos and the aquariums? Do we continuously have to rely on foreigners to train our sportsmen at international level? When are we going to produce our own top coaches? Is there something missing in the budget? What is the missing link?

Mysingaporenews Collection – A book launch by crowdfunding

I have received several suggestions and requests to compile my writings into a book form for easy reading and reference. Depending on the interest, I would want to gauge your support for a Collection of Redbean’s political satires and tongue in cheek commentaries on the social and political affairs of Sin City. A selection of the inconvenient truths, often provocative and contemptuous or shocking ridicules, real or unreal, believeable or unbelieveable posted in mysingaporenews would be made available in print. The book will have about 100 to 120 essays to laugh and ridicule at the things that were happening to our beloved country and people.
 
The cost of production, postage and kopi should not exceed $15 per copy. Please order your copy/copies by sending your donation to POSB savings account 091-04300-9 follow by an email to redbeansg@yahoo.com indicating how many copies needed and the address to deliver to. As an example, for a donation of $50 you can have 3 copies of the book to be delivered to you with the balance as donation for kopi. You can donate more if you like what I wrote. Oh, for deliveries outside Singapore, please add another $5. I did not check but think this would be enough for foreign addresses.
 
The title of the book is:
 
Mysingaporenews
A Collection of Redbean’s tongue in cheek commentaries and satires on Sin City
 
This is Redbean’s crowdfunding project for a book. In case there is insufficient support to cover the production cost the project will be aborted and the donations return to their owners. The book could be ready in July, 3 months after the fundraising project closed in March. Thank you for your support.
 
Redbean

World class education opportunities up North

Malaysia’s tertiary education is world class according to the Second Education Minister Idris Jusoh. Malaysian universities are as good as those in UK, Australia and Germany in terms of quality. To back up his claim, he quoted the large number of foreign students coming to Malaysia for their tertiary education, conducted in English of course. So the quality must be good to attract foreign students to Malaysia.
 
The presence of foreign students is again quoted as a major factor for quality education ie world class. On this aspect, Malaysian universities would never be better than Singapore’s because the number of foreign students in the student population is much higher. Not only that, the lecturers and professors are mainly foreigners, or a large percentage, could be more than 50% in some faculties.
 
Malaysia needs to work harder to better its ranking if it wants to be better than Singapore by importing more foreign students and lecturers. They could also follow Singapore by giving no string attached scholarships to foreign students and pay the foreign lecturers salaries that they cannot refused. Singapore got a lot of money to spend on these foreign students and lecturers, so can Malaysia. Just throw more monies to the foreign lecturers and students and the ranking of Malaysian universities will definitely go up, like those in Singapore. And when there are more foreigners, the quality also goes up.
 
Singaporean students must now be eyeing a place in Malaysian universities. Malaysia just need to spend a bit more money to raise its ranking and Singaporean students would surely make a beeline to the high quality world class university education in Malaysia. And with the exchange rate so favourable, it would be an option that Singapore parents find very attractive. And Malaysia could also earn a lot of foreign exchange, increase its percentage of foreign students with Singaporean students, and thus improve the quality of education further. It would be a virtuous circus. Oops, I mean virtuous circle.
 
Malaysia would be happy and Singaporean students would also be happy. More foreign students and foreign lecturers equal to higher quality of education. It is a simple formula and so easy to achieve.