Homes-for-Hongkongers plan will extend to their resale

Homes-for-Hongkongers plan will extend to their resale

“Policy to help local homebuyers by barring non-residents from buying some flats will also extend to their resale, housing minister says

Tuesday, 04 September, 2012, 12:00am

Joyce Ng

A much-awaited scheme to restrict sales of some new homes to Hong Kong buyers will be extended to the resale of those flats, the housing minister said yesterday.

In an interview with the South China Morning Post, Secretary for Transport and Housing Professor Anthony Cheung Bing-leung said the sales ban would be extended to safeguard the policy dubbed "Hong Kong property for Hong Kong residents". Otherwise buyers could quickly defeat its purpose by immediately reselling the flats to mainlanders.

Cheung was elaborating on Chief Executive Leung Chun-ying's announcement last week of 10 measures to cool the property market. Leung said the sales ban would be launched after legal drafting was completed and the new restrictions were added to land leases of new sites for sale to private developers.

"The purpose is to cater to Hong Kong residents' aspirations for home ownership," Cheung said….”

At the rate property prices are spiralling out of control with a shrinking world and money being printed like toilet papers, the whole paradigm of home ownership for citizens would need to be seriously looked at, especially in little countries or cities like Hongkong and Sinkieland. They just have not enough for sale, and there are just too much money looking for a good buy. And where else to put money into properties than in land scarce little cities? The only risk is for the little cities to sink due to the weight and overbuilding. Other than this, the prices of properties can only go one way, up and up. And anyone who sold will only see the prices going higher and higher, like the Tower of Babel.

Given the new set of parameters, what should the govt of a people do to protect the interest of its citizens? Selling out is a very attractive option and everyone hanging to a piece of property would only wait for his turn to cash out to the next richer buyer. It is a nice monopoly game to play and to exit very rich as long as one does not bother about remaining in an ever pricier little city.

The Hongkie govt has realised that the property game cannot be played under the same old rules or Hongkong will be sold to the highest buyers in no time. The curbs will come down real hard, and the game will be changed. Properties will no longer be traded freely, or some at least, and be determined by market forces alone. Govt intervention is a must to keep the ship from hitting an iceberg of Titanic proportion.

Maybe the Hongkie govt are just plain silly. It would be better to sell everything on a willing buyer willing seller basis, and everyone will be smiling to the banks. Why is Hongkong losing touch with its free spirit and free enterprise philosophy?

No more cheap shots, Hillary!

In his article in mypaper today, titled No China ‘cheap shots’ please, Clinton, Meidyatama Suryodiningrat is perhaps the first Asian journalist reporting from The Jakarta Post/Asia News Network, to call a spade a spade. The hypocrisy of the Americans is so thick and slimy that their hosts from Mongolia down to Southeast Asia and to the Pacific Islands were too polite to wipe it off Hillary’s face. This farcical face of the Americans were lifted again in the front page of the ST by Zakir Hussein, another Indonesian correspondent who quoted what this woman said, ‘The United States does not take a position on competing territorial claims over land features but we believe the nations of the region should work collaboratively together to resolve disputes without coercion, without intimidation, without threats and certainly without the use of force.’

Now, which country has been drumming up territorial claims overtly and supporting them covertly to raise tension in Southeast Asia? Which country has been applying coercion, sanctions, intimidations and threats of war or use of force against smaller and weaker nations across the globe? This woman thinks that the Southeast Asians and the rest of the world are daft. Her arrogance to preach peace while conducting wars openly and subversively trying to start wars must be the height of vanity and stupidity.

Well she thought she is the Emperess of the Empire or the plenipotentiary of the Emperor and could fire cheap shots at anyone she pleases without batting an eyelid. The tensions in western Pacific and around the world are solely the works of the Americans.

Last few days the Australians were wallowing in self pity when a few Aussie soldiers were killed in Afghanistan. Why did the Ausssie soldiers get killed in that country? What have the Afghans done to the Aussies for the latter to send their soldiers to kill them and in turn be killed? The Afghans have no quarrels with the Aussies and have nothing to do with the Aussies. What is the link for Aussie soldiers to kill Afghans and for Afghans to kill them?

It all boils down to a country that needs to have enemies at all times and to have to fight wars at all times to keep its war industries in the pink of health. Yes, the USA is a warmongering country, a country that wants wars and will keep the flames of war burning bright for its own economic and political interests. They still think they are the cowboys and need Red Indians to satisfy their thirst for blood and killings.

And Hillary Clinton is telling everyone that she is the angel of peace. That she is the saviour of the poor and unthinking Asians and the Pacific Islanders. She came for peace, to broker for peace, but with all the soldiers behind her. Did someone shout her down for firing cheap shots?

PS. The stability and economic progress under the Susilo Yudhoyono presidency have seen Indonesia rising in confidence and stature as the de facto and dejure leader of Asean, and as a growing regional power. The Indonesians too are striking out to put their own marks and views on regional issues independently and standing clear of the shadows of big power hegemony. Indonesians will see things in their own perspective and in their own interests, and in a wider context in the interests of Asean and the region.

A matter of extreme prejudice

‘PARTY AGAINST PEOPLE:

September 3, 2012 at 12:11 am (Quote)

It is rumored that the actions of law society has the implicit approval of the PAP government. Ravi is the only lawyer among the 3000 lawyers who dare represent the downtrodden and opposition clients against the government. The rest of the lawyers, as we the public view them, are in the profession for LOVE of the money and sucking up to PAP. I wonder with the many Senior Counsels in Singapore, who among them will dare represent Ravi, probono, of course. Any lawyer willing to step up?’



Why is it that the finger will be pointed at the PAP? The above is a comment posted in TRE on the persecution of M Ravi. It claimed that it is rumoured, nonetheless, why should it be a rumour against the ruling party? Practically every comment in the thread and other blogs would also look at this witch hunt in the same manner, and guessing who is behind it. Are the rumours/assumptions right that the party is behind it is the party behind it? Or are the assumptions wrong, and the perceived party to be behind it is not the party behind it? No one is wiser though everyone knows who is wiser. All the circumstantial evidence and logic only point to one direction. But since these are all conjectures and not facts, and no one is brave enough to stand up to make the claim, it is at most rumour mongering. And PAP, or any organization, would not respond to rumours. It would take someone to call a spade a spade and be ready to meet in the court of law to prove his case.

For the time being, it is just the Law Society versus M Ravi. The fact is, it has nothing to do with the govt or the PAP. While many would put one and one together, sounds so logical and real, but could be unreal and not the truth. In the same manner, any blogger that is being spammed or attacked will also think the same. It is like whatever is wrong or bad, it must be the work of the devil. The poor devil becomes the fall guy for whatever is sinister, and people use this to capitalize on the suspicion.

In international relations, the false flag formula always works as it is difficult to prove, and the real culprit will take a very simple step to cover his track. In local politics, is the covering of one’s track that simple? I doubt so as it is so easy to trace back to the very culprit if one has the resources. The PAP could easily take the rumour mongers to task and sue them for libel or intentional harassment. The inconvenient truth could easily be put right and should be put right for the good of the PAP. It should be in its interest to right the wrong, clear the wrong perception, and clear its name.

It must have its own reasons not to do so, not to want to do so and keeps everyone guessing. Or is there a need to guess? Is it wrong for the public to have such negative perception of the PAP? Is it fair for the public to regard the PAP as the devil to take all the blame? Whatever, the PAP has a perception problem and saboteurs could use this credibility gap to fly false flags with PAP ending up carrying it. The more bloggers are attacked, the more damage control needs to be done even if PAP is totally innocent. Cyber insurgency is proving to be a double edged sword and can cut either way.

What do you think?

A matter of value, a matter of life

Many countries retire their senior citizens at 55 or 60 or maybe 65 for them to live their lives in a more casual pace. Even communist countries do that. With or without pension, govt handouts, etc, life goes on.

In Sinkieland, the oldies are encouraged to continue to work as a healthy way of living, with or without pension or govt handouts. The oldies keep on working to 70, 80 or maybe more. This is seen as liberation, freedom from financial dependency, and a lot of dignity. The type of jobs does not matter. Some could be directors or chairman of corporations and sipping tea in board meetings, and be chauffeured around. Some of the oldies could be cleaning tables or picking cardboards off the streets. Both are equally financially independent. Not a burden to the state or their family members. Both equally dignified in their way of life, working and working to pass time.

What a life. It is a matter of value and a matter of what is a good life worth living and working for. We know what is good for the oldies and we know what the oldies want to do with their lives, to work with dignity.

Hongkong concerns over influx of tourists

‘A plan to allow millions more mainland Chinese to visit Hong Kong was delayed Friday as the southern city said it needed to consult with Beijing over its ability to cope with the influx.

Hong Kong leader Leung Chun-ying said his government would hold talks with the mainland authorities to discuss the "capacity of Hong Kong to receive these additional visitors".

"I have reflected the Hong Kong people's concerns to the central government and the central government views these concerns seriously," he said….’ Yahoo News

The Hongkies are not that enterprising afterall. Imagine if the tourists are coming to Sinkieland in the millions, we will be smiling in glee. Money coming in, growth, growth, growth. Better still if they take up PR. And even better still if they become citizens. We have so much land to build more expensive flats and Sinkies will also see the value of their flats appreciating even higher. Why can’t the Hongkies see the good stuff?

Sinkieland will soon surpass Hongkong in many things. Highest economic growth, population growth, property prices, density, freest economy, most dynamic nation, must oohm and parties, and most happenings. Sinkieland will be the place to be in, to be seen, to live and prosper, with unstoppable growth.

If Hongkong is afraid of the influx of the Chinese tourists, recommend Sinkieland to Beijing and earn a commission for it. Sinkies will be grateful for this.

Li Ka Shing buying more land in Sin

BusinessWeek, 28 Aug 2012

Billionaire Li Ka-shing’s Singapore property joint venture may seek more land in the city’s downtown to replicate its latest development that attracted global banks including Standard Chartered Plc and Macquarie Group Ltd

Should Sinkies greet this news with glee or with fear? Li Ka Shing is a shrewd businessman with great foresight, to see what and where there is a good deal. His intent to buy more land can be seen as a good sign that the future is good here. People selling land will be very happy to hear this news. But for land scarce Sin, what is it going to cost the locals and property prices, good for those wanting to sell and profit and bad for those needing a place.

Sinkieland can grow more land by reclamation, provide more yield by building higher and digging deeper. But if there is no restraint in foreign buying, there will be not enough land to meet the foreign demands, which are as good as the demands of the rich of the world.

The govt has to seriously relook at this issue of housing and land for its population and industry use. It is very tempting to keep selling at higher and higher prices. It looks so great to let property prices spiral up with all the property owners smiling and feeling so rich.

Come 50 or 60 years down the road when most HDB 99 year lease would be due for expiry and owners would need to buy new flats, what would be the prices then? By then they cannot sell to use the proceeds for a new flat with a small top up fee. The old flats would be worthless or at minimal value. Some could be saved through regular en bloc repurchase schemes, but when the bulk expires at about the same time, it is not going to be an easy thing to do. 900,000 units! 50% is going to be 450,000 units for en bloc and SERS.

The land and housing issue here is not the same as countries with big and near unlimited land relative to their population. Housing as a commodity for trading is dicey if not managed well.

Safe to go nuclear

There was a CNA programme last night on how safe to go nuclear in Southeast Asia. After an hour, the panel over came initial reservations and seemed quite agreeable to the idea that nuclear power is safe and necessary. Fossil fuel will just run out and countries wanting growth and growth and growth just have to rely on nuclear. All the concerns about radioactive fallouts were summarily dismissed. No 911 on any power plant is possible. You would need a nuclear bomb to blow up a nuclear power plant to really cause damage and widespread radiation.

In the Three Mile Island no one died. In Chernobyl, just about a hundred. In Fukushima no one died too, or maybe a handful. Nuclear power stations are safe. There are more people being killed on the road than by a nuclear accident.

The Chairman did try diplomatically to raise the concerns of expertise and discipline of the people manning the plant and also the inconsistency of governance with regular regime changes and change of leadership personalities. These were discussed but should not be an issue. The system of operating a nuclear power plant is so carefully and meticulously designed to take care of everything. Nothing will be allowed to go wrong.

Our SMRT was running perfectly for at least 20 years under the best governance and best trained personnel with all the safety and maintenance procedures observed. We know the story. Equipment ages, people slack, management oversight, over confidence and getting into a routine, could all contribute in their small little ways to build into a crisis.



All it needs is a confluence of little events. A poor quality cable, a technician having a bad day, a computer or system glitch, management having a hangover after a party, no one is assumed to be able to break into a highly secured installation.

When things want to go wrong, it will go wrong according to Murphy. Don’t believe in Murphy. Can a senior technician in the plant be converted by a cause, bought over or blackmailed? I think all eventualities have been thought through and taken care of. Even if Nature wants to take a pee or a fart would have gone into the equation to build a 100% safe plant.

The no choice option is the main thrust for nations going nuclear. They need the growth, and the power, not today, maybe tomorrow. The world’s population must grow for growth’s sake. It is 6 billion today and could go to 10 billion or 20 billion, for whatever reason, I dunno. But grow it must, for economic growth and prosperity. And consumption of all things, resources and energy must go on and on and on. Why there is a need to keep changing mobile phones and add new little games is a complex issue. Once whatever is consumed, next frontier, Mars.

Human beings will just grow and consume for the sake of growing and growing. There is no other option but to grow. And nuclear is the next alternative to support the growth that is needed, for what?