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Archive for 2019|Yearly archive page

Not Fake News: S’poreans still very satisfied with PAP govt

In Political economy, Political governance, Public Administration on 31/12/2019 at 10:51 am

Further to Mad Dog, Lim Tean and other cybernuts are peddling fake news, BlackBox’s latest (December) Government Satisfaction Index fell 1 point to 79. The change over the last 12 months also fell 1 point. Looks like S’poreans are really satisfied despite what  Mad Dog, Lim Tean, Meng Seng, and TOC’s M’sian Indian goons (Terry and his “bunch of Indians”) and other cybernuts are saying: that S’poreans are so unhappy that the PAP govt will be overthrown by the Spastics League?

Vote wisely.

Wandering WiFi

In Telecoms on 31/12/2019 at 5:07 am

A world without WiFi passwords. Cisco’s OpenRoaming initiative is trying to make moving through WiFi zones as seamless as mobile networks.

Telcos will not be happy. So I doubt we’d see this initiative tested here. Sad.

Cisco Launches “World’s First” Commercial OpenRoaming Deployment in London

Another year of sticking to S-Reits

In Financial competency, Financial planning, Property, Reits on 30/12/2019 at 8:39 am

In summary, the models expect recovering GDP growth, extremely low inflation, exceptionally low bond returns, and low but positive equity returns in 2020-22.

Gavyn Davies* talking about the global macro scene for 2020

I tot I would be selling out of my S-Reits in 1Q 2020. Guess I’ll hang around for a bit longer.

*He’s an FT columnist

Gavyn Davies is now chairman of Fulcrum Asset Management and co-founder of Prisma Capital Partners. He was the head of the global economics department at Goldman Sachs from 1987-2001, and was chairman of the BBC from 2001-2004. He has also served as an economic policy adviser in No 10 Downing Street, an external adviser to the British Treasury, and as a visiting professor at the London School of Economics.

FT

TKL: Talk Cock King

In Uncategorized on 29/12/2019 at 9:03 am

Recently, in Fact v opinion & “Lies, damned lies, and statistics”, I praised him, almost agreeing with him. Since then he said more sensible things:

Two dirty words – tweak and calibrate

A few years ago, it was common to see the words “tweak” and “calibrate”. The ministers used them almost every day. When they see any problem, they immediately think about how to “calibrate” and “tweak” the system to solve the problem.

It seemed that the only way to solve problems in Singapore is by “tweaking” and “calibrating”. I see their statements so often that I felt nauseous when I encounter them.

I know that the ministers are just parroting their puppet master. Guess who is the puppet master who just love “tweaking” and “calibrating”?

After I while, I got tired. I declared publicly in my Facebook and blog that these two words are “dirty words.”

I guess my strong words must have reached the ivory tower and must have caused some anguish among the occupants.

Today, we hardly see these words. They must have been abolished from the vocabulary of the ivory tower.

Although these words are hardly used nowadays, the bad practice still continues. Our government policies are tweaked and calibrated to suit different groups of people.

What is wrong with this approach? It leads to complications and unfair treatment of different groups of people. Some get the benefit, some do not. Some get more, others get less – depending on how the line is drawn. Now make a guess – who draw the line? The person who hold the drawing ruler probably has some vested interest.

I prefer a different approach – to give equal treatment to everybody. Except for one difference. When it comes to taxation, the higher income should pay more tax (as they can afford it), but they should enjoy the same benefit given to everybody.

Tan Kin Lian

Fortunately, I don’t have to change my low opinion of about him because very recently he posted this after the public tpt fare rise

 

He forget he has boasted he has rental income from his properties. Juz increase the rent by 5%.

He forgot he got rental income? Dementia? Like his PE manager Meng Seng, or Lim Tean

(Btw More evidence that being anti-PAP is bad for yr mental health)

Or is he trying to pretend that he wasn’t a PAP cadre (GCT’s branch secretary, no less)? What an ingrate.

Just as bad an opportunist as TJS:

TJS: Right attitude, wrong project? and Why TJS never got invited for tea and biscuits.

At least TJS has lowered his public profile. He sold his bungalow and now posts photos of his travels round the world on FB, a retired honourable warrior tells me.

What’s really eating Xi’s heart out

In China on 29/12/2019 at 5:47 am

Taiwan houses one of the world’s great art collections. The National Palace Museum in Taipei has more than 650,000 antiquities and works of art, mostly from the historic imperial collections in the Forbidden City in Beijing,

The collection spans some 8,000 years, from the Neolithic to the modern. And everything from painting and calligraphy to bronzes, jades, lacquerware, ceramics and textiles.

Remember that about 3,000 crates of treasures from the National Beijing Palace Museum swam over to Taiwan as the government and army of Chiang Kai-shek’s Republic of China retreated to Taiwan after their defeat by Mao Zedong’s Communists.

Maybe the Taiwanese should offer to return the treasures to Xi in return for him allowing Taiwan to declare its independence?

It’s a win, win for both sides. The treasures really belongs to the Forbidden City and Taiwan deserves to be a de jure independent liberal democratic (sort of because they use physical violence in parliament, not juz verbal violence) nation, giving the finger to our dearly departed Harry’s self serving comment that Chinese don’t do democracy.

Why no GE in Dec 2019

In Economy, Political governance on 28/12/2019 at 6:58 am

The u/m news from the constructive, nation-building CNA reminded me of what Secret Squirrel told me on Christmas Day.

Singapore’s monthly manufacturing output decreased in November after seeing an uptick in the previous months, data from the Singapore Economic Development Board (EDB) showed on Thursday (Dec 26).

Manufacturing output fell 9.3 per cent in November on a year-on-year basis. On a seasonally adjusted month-on-month basis, production went down 9.4 per cent.

The largest decrease in November was in the electronics cluster, which fell 20.9 per cent. The entire cluster saw a decline in output, except for infocomms and consumer electronics, which grew 29.8 per cent, and data storage segments, which grew 23.1 per cent.

https://www.channelnewsasia.com/news/business/singapore-manufacturing-output-november-edb-12212126

Secret Squirrel told me that the reason GE would be delayed until after the the Budget is that the ground is not sweet for a PAP victory of 65%+, without a lot more bribes goodies, using our own money. Reminder: Heng’s 4G team needs 65% of the popular vote: the pass mark for bragging rights that they have the people’s mandate.


Problems for the PAP govt

Economy: “Only cold spell coming, but not Winter”and S’pore: the canary in the coalmine/ Is the ground sweet for the PAP? But to be fair to the PAP: IMF affirms support for PAP policies.

The headwinds other than a lousy economy going into a GE:

— Another reason why ground is not sweet for the PAP.

— Why one-party rule sucks for Xi, Lee and Heng

—————————————

A GE late this year as expected by me in 2018 (Akan datang: GE in late 2019) even with vote losers like pending GST rises etc (PAP is like one armed swordsman) would have resulted in a PAP victory of around 62% (How the PAP can get 62% is explained in PAP fighting for every last vote).

But 65%? No way without more dropping GST rise ( How PAP can win 65% plus of the vote) or more goodies. Well a GST rise is set in stone, so got to have more bribes goodies, all with our own money.

Btw, how a really dumb TRE cybernut die die insists that TRE not wrong when I wrote: TeamTRE doesn’t know when school holidays begin?/ How Wankers can hold Aljunied

ganeshsk:

Well CI technically possible.

Tis school technically closes on 14th October 2 days prior to official date and it is pTM and prize giving for class toppers.

So the nomination the campaign period 10 days might just take place from 9 th of November. and we can election on 17th November.

So I didn’t think TRE got it wrong.

Now a days the void decks are being used more than the school but I am sure the scheduled MOE volunteers will be excused early to attend to election formalities if need be.

 

PAP: 1984 GE

In Uncategorized on 27/12/2019 at 7:58 am

Someone put these up on FB, asking if any one could recall the origin of the stickers?

 

Someone replied they were stickers were from 1984 GE.

If the PAP tried wrapping this flag wrapping today, TOC’s M’sian Indian goons, cybernuts and social media would be KPKBing.

Which greener? Online shopping or visiting store?

In Environment, Financial competency on 26/12/2019 at 10:25 am

“The problem isn’t buying online — it’s how the delivery is implemented and how packages come to our door,” BBC article.

Fake news: CPF Life not enough to live on

In CPF, Financial competency, Financial planning on 26/12/2019 at 5:28 am

This reminded me of u/m chart. Look at it and realise that it’s fake news that S’poreans (young and old) are worried about their retirement needs. Way down at number 24.

 

 

 

 

https://www.schroders.com/en/sg/private-investor/sg-insights/global-investor-study/revealed-the-global-league-table-of-pension-worry/?utm_campaign=insights&utm_content=GIS_Retirement_1&utm_medium=paid_social&utm_source=facebook&utm_term=singapore%20digital%20end_investor%20video%201200×628%20video&fbclid=IwAR3rtN5elQ4i4e-xn2XPDVyFuyv5I8P6KzHKawJOXzeodl-4Y0DZ8VawPkc

Time to POFMA TOC’s M’sian Indian goons (Terry and his “bunch of Indians”), the cartoonist and other TOC , and TRE cybernuts?

And Straits Times and StanChart Bank for this BS? https://www.straitstimes.com/business/banking/nearly-half-of-affluent-singaporeans-may-miss-the-mark-on-retirement-savings-goals

How to lessen GST impact rise and promote cashless payments

In Economy, Public Administration on 25/12/2019 at 4:25 am

This is my constructive, nation-building X’mas present for our millionaire ministers and senior civil servants, wrapped in the form of a suggestion.

We know that in the coming Budget sure got incentives to make us less unhappy with 2 points GST rise.

Here’s an idea we can copy and paste from Japan both to lessen the impact of GST rise on consumer spending and, as a bonus, promote cashless payments. Remember Brownfacegate? Brownfacegate: Fake indignation? and Brownfacegate: The inside story?.

Its consumption tax (GST) was hiked by 2 points on October 1. Customers who transacted cashlessly in SMEs, are able to receive reward points to offset the tax increase.

 The response by the SMEs, revealed the Ministry of Economy, Trade and Industry on Monday has been unexpectedly strong. Since May, when the scheme was first mooted, 940,000 shops, restaurants and other consumer-facing businesses have registered for the scheme — a process that forced many of them to bring cashless payment terminals into their stores for the first time.

FT

And Japan is not the only govt. From next year, the Italian govt plans to offer financial bonuses to those who use cards or other electronic payment systems.

Btw, FT also reported that a Nomura survey of why businesses were reluctant to introduce cashless payment terminals found that the answer was high fees. Hawkers were KPKBing here too when e-payments were trialled in a few hawkers’ centres. Any idea of what happened since then? I never patronised any of them.

Mad Dog’s Curse: A Christmas tale

In Uncategorized on 24/12/2019 at 2:50 pm

In ang moh land, one of the Christmas traditions is the telling of ghost stories: think Dickens’s A Christmas Carol.

Here’s something from a TRE cybernut in that vein. Make sure you read my comments after the piece.

The Curse of Bukit Batok

Bukit Batok is on the news again, for the wrong reasons.

Latest unfortunate mishap to happen in this jinx constituency: Discovery of a Tuberculosis patient in a Kindergarten.

This is something unthinkable in Singapore to find a TB patient in a kindergarten, of all places. It’s more shocking to note that MOH has given the green light to keep the kindergarten operational despite Parent’s deepest concern if any of their children already been infected with the deadly disease. Hope not !

Bukit Batok constituency became famous (actually infamous) when its PAP MP resigned on 12th Mar 2016 at the height of a “personal indiscretion” episode. By-election was held on 7 May 2016, with two horses in the race- Murali of PAP (aka Ah Mu) and Dr Chee of SDP.

During the election campaign, PAP brought in few heavy weight Ministers to counter Dr Chee. Then the unfortunate thing happened – Dr Chee alleged that he became a victim of character assignation when ugly gutter politics emerged from PAP camp, which Deputy Prime Minister Tharman Shanmugaratnam disagreed but however acknowledged that “ the ruling party has fallen short of its standards at times, and when this happens, action is taken against individuals who have let the party down”.

Read more at https://www.todayonline.com/singapore/pap-did-not-engage-gutter-politics-2016-bukit-batok-election-tharman

With all the above history forgotten by most Singaporeans, unfortunate incidents and mysterious mishaps started to happen in Bukit Batok SMC after the last bi-election, which Murali won unfairly. Here are some of them:

1)     1st Nov 19 – Woman dies in fire. This incident was complicated by fire hoses locked and finally when SCDF broke open them, there was no water. On Nov 15, MP Murali told residents that he was accountable to them as their elected representative and apologized for the lapses.

2)     15th Nov 19 – a Japanese Mother and son found dead on Bukit Batok Hill. Investigation is still in progress.

3)     20th Jul 19 – crane crashes into sheltered walkway in Bukit Batok, between Block 504 and 506 of Bukit Batok East Street 52.

4)     17th Jun 19 – Lorry crashes into walkway shelter at Bukit Batok, causing it to collapse on car. A sheltered walkway at Block 116 Bukit Batok West Avenue 6 collapsed after the crane boom of a lorry crashed into it.

5)     6th Feb 2017 – A new rat infestation has been discovered in Bukit Batok, raising fears that the infestations that were discovered in 2014 and 2016 might be making a comeback, as Rats can carry a variety of different disease causing agents, and these can be transmitted from the rats to humans. Rats are associated with the transmission of several important infections in humans, including leptospirosis and plague.

6)     3rd May 15 – Mystery bugs invade and plagued Bukit Batok residents, their sudden outbreak remains unclear. They then simply dropped dead, leaving huge piles of carcasses to clear.

7)     26th Sep 19 and 17th Oct 17 – Pipes burst at Bukit Batok West and Bukit Batok East respectively. Water spouts raised several storeys and caused localized flooding.

8)     12th Sep 17 – Five hurt in Bukit Batok industrial blast. The blast happened at ZTP Ginseng Bird nest’s factory on the 11th storey of Enterprise Centre, at 20 Bukit Batok Crescent. Five workers from the factory were injured.

9)     May and Jun 2017 – Lifts installed by Sigma Elevator at Bukit Batok’s Skyline II estate had broken down about seven times.

10)  And many more Incidents….

(source: Straits Times, CAN, Yahoo, Today..etc)

To our knowledge, Yishun town is notorious for such headline news, but Bukit Batok is catching up fast. Weirdly, Bukit Batok in English literally means “Coughing Hill”. Looks like some curse has befallen on Bukit Batok constituency after the bi-election, which was won ungentlemanly by PAP, as Dr Chee accused PAP Ministers of winning by character-assignation and gutter politics. Bad karma for the residents if a curse is in the working.

Curse is defined as any expressed wish that some form of adversity or misfortune will befall or attach to one or more persons, a place, or an object.

Although most of us don’t believe in curses, the incidents and mishaps in Bukit Batok just cannot be  quashed away as pure coincidence, especially if they are continuously happening ever since the bi-election. Wondering what incident is going to happen next if this curse is true. Scary indeed.

Can this curse be broken by voting-in Dr Chee as the next MP for Bukit Batok SMC ?

A Resident

My take is Mad Dog Chee laid a curse on Bukit Batok residents for not making him their MP. After all he slimed the Chiams saying he lost because of their sliming: SDP: No adult supervision isit?

So yes the curse will be lifted

by voting-in Dr Chee as the next MP for Bukit Batok SMC.

But here’s a better solution: the SDP should replace him as their leader: Will the real SDP, Dr Chee pls stand up?.

My other pieces on the BB by-election.

Why Dr Chee should not stand in Bukit Batok

Bukit Batok: The tyranny of numbers

BB By-election: Relax S’poreans/ DNA of PAP and Dr Chee

Ah Mu’s silence is deafening

SDP: No adult supervision isit? Why liddat?

They all show that Mad Dog is the kind of person who will lay a curse on others.

 

Our Merlion was designed by ang moh queen

In Uncategorized on 24/12/2019 at 4:22 am

Doesn’t something look familiar?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

let’s … focus on our so-called official mascot.

The Merlion.

Commissioned in 1964, it was designed by Alec Fraser Brunner who was a zoologist, as well as the curator of the Van Kleef Aquarium. The statue instead was sculpted by Lim Nang Seng, a prominent sculptor in those days. Origins of the half lion half fish symbolism have been loosely credited to the ‘singa’ of Singapura, as well as the (already proven to be grossly inaccurate) origins of our country as a fishing village. Somehow or rather, it’s left to be as vague as it can possibly be.

Which is why it was intriguing when I came across the coat of arms of the First East India Company, lo and behold, I’m suddenly staring at a pair of Merlions from the 17th century! It first appeared in the Grant of Arms to the East India Company Merchants, dated 4 February 1600. The same pair also appeared on the official seal of the HEIC in 1675, but now with its scary head facing us, staring into our souls. Unfortunately, its partner did not manage to survive the test of time.

This was something new to me, having only familiarized myself with the later day coat of arms of the EIC, no longer featuring confused half lions. It has been mentioned that it was the Queen herself who gave detailed instructions of the elements to be incorporated into the coat of arms. So was our Merlion symbol inspired from the EIC? If so, you could say that the true person behind the design was the Queen!

Jokes aside, that also means that we are subconsciously still subjugating ourselves to traces and elements of colonial rule.

But sea-lions in heraldry isn’t all that uncommon. You don’t even have to look far. In the Philippines, Manila’s coat of arms, the seal of the Navy, Department of Education, as well as the Presidential seal bears sea-lions. Even in Bulgaria, you can spot a sea-lion in the coat of arms of Burgas.

Still, it remains a mystery. Say what you will, love it or hate it. To me personally though, trying to unearth the stories behind such symbolisms is more rewarding 😉

Ahmad Bin Osman

 

No wonder ang moh tua kee even to the PAP: Even PAP govt thinks ang moh tua kee.

Happy feasting and drinking.

Btw, the East India Co’s coat of arms when it ruled India.

 

 

 

“Black is white, white is black”: Our UK ambassador defends POFMA

In Political governance on 23/12/2019 at 11:18 am

Regular regulars will know that I’m no fan of POFMA (Fake news is in the eyes of the beholder) even though Alex Tan, Brad Bowels and Lim Tean deserve to kanna POFMAed (The last two talk so much cock that even if the authorities wrongly POFMa them, the courts can still find that they deserve to kannna POFMAed for other BS). As to the SDP’s POFMA, if it kanna POFMA, so should the constructive, nation-building ST.

So I had a great laugh when this appeared in the Economist’s letters section: note the implied argument that POFMA is nothing more than “right of reply”. If so why not make “Right of reply” law apply to social media etc, not juz the media? Someone talking cock, me thimks.

Free speech in Singapore

Contrary to your report (“False alarm”, December 7th), our Protection from Online Falsehoods and Manipulation Act should be looked at in the same context as our belief in the right of reply, which in our view enhances rather than reduces the quality of public discourse, and strengthens and safeguards proper public accountability that must necessarily underpin democracies. Online posts that have been corrected remain available in full, but with links to the government’s response appended. Readers can see both and decide for themselves which is the truth. How does twinning factual replies to falsehoods limit free speech?

You also misrepresented the falsehoods that the government corrected. One post not only accused the government of rigging elections and conspiring to convert Singapore into a Christian theocracy, but also made false claims that it had arrested specific critics. Another did not only question the “investment nous of Singapore’s sovereign-wealth funds”, but based this on false allegations of losses that never occurred. The Economist itself recognises how serious a problem online falsehoods are, for example in “Anglichanka strikes again” (April 21st 2018). Fake stories have influenced British politics, notably in the Brexit campaign. Legislatures around the world have been grappling with this problem.

Singapore, a small English-speaking, multiracial, multi-religious city-state open to the world, is more vulnerable than most to this threat. Having observed in Britain and elsewhere the cost of doing nothing, we decided to act. Singapore’s laws are designed to meet our own context and needs. We have no ambition to set any example for other countries, but neither do we make any apologies for defending our own interests.

Foo Chi Hsia
High commissioner for Singapore
London

Ah well, having to write letters like this is the price of a cushy life funded by us tax payers.

The letter reminds me of Race is BS or “post-truth” at work?

“They wanted facts. Facts! They demanded facts from him, as if facts could explain anything.”
―from LORD JIM (1900) by Joseph Conrad

Ms Foo’s other attempts at comedy and post-truths:

Christmas laughs from our comic lady in London

What next? Senior civil servant saying that those who don’t vote PAP don’t wish S’pore well?

Ang mohs told secret of why PAP wins and wins

Our London ambassador on why Reformasi here is for the deluded

PAP govt speaking? No ler North Korean minister

Economist piece on Amos etc: Dark Side cousin responds

Somehow I’m reminded of

Song of the Witches from Macbeth

Double, double toil and trouble;
Fire burn and caldron bubble.
Fillet of a fenny snake,
In the caldron boil and bake;
Eye of newt and toe of frog,
Wool of bat and tongue of dog,
Adder’s fork and blind-worm’s sting,
Lizard’s leg and howlet’s wing,
For a charm of powerful trouble,
Like a hell-broth boil and bubble.
Double, double toil and trouble;
Fire burn and caldron bubble.
Cool it with a baboon’s blood,
Then the charm is firm and good.

Despite PISA rankings, S’poreans blur on interlining

In Infrastructure on 22/12/2019 at 4:37 am

When I skimmed thru the constructive, nation-building story

The Big Read: Bus contracting model has benefited drivers, commuters — but will the good times last?

I had to pause to read an interesting unconstructive, and certainly not nation-building segment that shows how inflexible, brainy, hardworking S’poreans are mentally when compared to lazy, stupid ang mohs who vote for welfare and Brexit:

Mr David Cutts, the regional managing director of British company Go-Ahead, said that one of the challenges it had faced in the initial stages was introducing the interlining model of running buses in Singapore.

Interlining is a concept which requires bus drivers to drive multiple routes during a shift, instead of just one.

For instance, after completing Route A, a driver may not be required to do another trip for 20 minutes. Within that time span, the same driver may drive another route (Route B), before returning to the interchange to ply Route A again.

While this is a concept that is practised widely in cities like London, it led to a spate of resignations among Go-Ahead’s drivers who could not cope with juggling multiple routes two weeks into commencing operations in September 2016, forcing the company to sub-contract drivers from SBST and SMRT.

Since that episode, Mr Cutts said, bus captains are no longer forced to take up interlining. While the concept remains in place, only 40 per cent of its bus captains work interlining routes and at a rate where they are comfortable with.

Read more at https://www.todayonline.com/big-read/big-read-bus-contracting-model-has-benefited-drivers-commuters-will-good-times-last

What’s the point of us and China (remember that many of our bus drivers are FTs from China) topping PISA ranking particularly in maths (East Asians to dominate maths Nobel Prize soon?) if we and the Chinese are mental ly spastic retards, incapable of mental flexibility.

Then there’s this: S’poreans really that cock despite topping PISA exams?

So maybe this isn’t fake news?

Before over 1500 delegates, Director General of the Ministry of Education, Mr Wong Siew Hoong, projected graphs depicting Singapore’s stellar PISA results. He then juxtaposed these to OECD data on student wellbeing, and also of innovation in the economy, revealing Singapore in the lowest quartile. His conclusion was stark: “we’ve been winning the wrong race”.

https://au.educationhq.com/news/41377/the-pisa-fallacy-in-singapore-insights-from-the-nie/

(Reported in What ST doesn’t tell us about our PISA ranking)

 

SGX’s ex-FTs come back to haunt it

In Uncategorized on 21/12/2019 at 10:47 am

Recently, the constructive, nation-building ST has been dissing SGX

SGX takes a hit with listings lost to privatisation

and

More diverse risk appetite needed in investments as SGX takes a hit

going on to say

Singapore’s shrinking stock market, in some ways, best represents the structural and cyclical challenges that popped up through the decade that’s about to end.

(Related: SGX: Global sua kee)

Sounds like the PAP govt is not happy with the way SGX is going.

Here’s some more info that shows how useless the SGX is.

The FT recently reported that the SGX uses the London’s Stock Exchange’s trading technology.

Looks like I was right about SGX’s Indian IT Trashes

SGX’s IT: An all India FT affair?

SGX: Disk FT isit? Prime terrorist target?

I wasn’t racist as a TRE cybernut alleged.

 

Fact v opinion & “Lies, damned lies, and statistics”

In Public Administration on 20/12/2019 at 4:39 am

[I]t is hard to identify, whether a given expression is a fact or an opinion, as they are quite commonly juxtaposed by the writers. Facts are always one step ahead of opinions as facts can be proved to be right or accurate, whereas opinion may also be right but they cannot be proved as true.

Difference Between Fact and Opinion

And

 Harvard’s Claire Wardle [ ] says that “much of the debated content is not fake, but used out of context or manipulated, while polluted information also extends beyond news”.

What is “news”?/ “Fake news” is not “fake” says Harvard expert

(More on this point below)

Tan Kin Lian got it about right when he said

Wah. POFMA can now be used to handle “interpretations” and not only “facts”. Really? It is getting ridiculous.

Read this report in CNA:

PAP spends S$167 million on Grants & Bursaries for Singaporeans, but S$238 million on foreign students??” wrote Mr Lim, who is representing blogger Leong Sze Hian in a defamation case involving Prime Minister Lee Hsien Loong.

This implies that MOE spends less on Singaporean students than on foreign students, which is “false and misleading”, states the Factually article.

The annual budget of MOE is S$13 billion, almost all of which is spent on Singapore citizens, and the S$167 million cited by Mr Lim refers only to bursaries for Singaporean tertiary students.

What Lim Tean said is factually correct. The two figures of $167 million and $238 million are factually correct. What the government objects is the “interpretation” of the facts.

Since when does POFMA law, as it is passed, apply to “interpretations”?

I disagree with the interpretation of the government in addressing the issue. It is clear to me that the government does spend more on the foreign scholars, compared to the local scholars.

I also disagree with the government’s approach to lump the full budget of MOE in the comparison. I think they are confusing the issue and misleading the public.

But, hey, this is just my opinion. Each person is entitled to his opinion.

POFMA is bad. And it has been abused against a few parties recently.

Tan Kin Lian

The spat between Talk Cock King Lim Tean and Ong Ye Kung’s MoE reminds of the saying “Lies, damned lies, and statistics”:

Lies, damned lies, and statistics” is a phrase describing the persuasive power of numbers, particularly the use of statistics to bolster weak arguments. It is also sometimes colloquially used to doubt statistics used to prove an opponent’s point.

The phrase derives from the full sentence, “There are three kinds of lies: lies, damned lies, and statistics.”; it was popularized in the United States by Mark Twain and others, who mistakenly attributed it to the British prime minister Benjamin Disraeli.

https://en.wikipedia.org/wiki/Lies,_damned_lies,_and_statistics#Books

In particular Lim Tean’s initial comments prove the point of Harvard’s Claire Wardle who

says that “much of the debated content is not fake, but used out of context or manipulated, while polluted information also extends beyond news”.

What is “news”?/ “Fake news” is not “fake” says Harvard expert

(Btw, last year, she made representations to the select committee on fake news.)

On Lim Tean BS artist

Look at Lim Tean’s record. Still no jobs rally after collecting money in 2017 for rally, and no picture, no sound after collecting money to sue CPF yrs ago: Finally Lim Tean called to account on a “broken promise”. To be fair, he did deliver on defamation video two years late. But it was BS.).

Can he be trusted to do anything but grab the money?

Is there really a better alternative to PAP 4G?

On Ong

I never was impressed by Ong Ye Kung (See Ong Ye Kung: A study in failure) and nothing since he became minister and a contender to be PM has changed my mind.

But anti-PAP paper warrior disagrees: Ong Ye Kung: “Is he the 4G leader with the killer instinct?”

More on “Lies, damned lies, and statistics”?: Mad Dog, Lim Tean and other cybernuts are peddling fake news

 

 

Why PAP never admits to mistakes?

In Political governance, Public Administration on 19/12/2019 at 4:16 am

All the POFMA orders flying around before an expected GE next yr, reminded me that George Orwell

wrote that because totalitarian regimes insist that the leadership is infallible, history must be perpetually rewritten in order to eliminate evidence of past mistakes. Totalitarianism thus “demands a disbelief in the very existence of objective truth.” Orwell added darkly that “to be corrupted by totalitarianism one does not have to live in a totalitarian country”; one simply had to surrender to certain habits of thought.

https://www.economist.com/open-future/2019/12/04/is-liberalism-really-kaput

We are not a totalitarian city-state. We are either an authoritarian one-party state (Would this happen in a one-party state?) or An illiberal democracy?, but the PAP’s attitude that the “PAP is never ever wrong” makes Orwell’s comments particular relevant especially with POFMA orders multiplying like maggots.

 

Making yr money work harder for u

In Banks, Financial competency on 18/12/2019 at 5:16 am

What with GST going up another 2 points soon, us coupon clippers got to find the difference so that we can continue eating Stilton, French butter, suckling pig etc.

The dividend yields on DBS, OCBC and UOB are 4%+. And so are the forecasted yields. Now for those of us who have second tier S-Reits up to our eyeballs, this is “peanuts”.

But instead of putting money into fixed deposits, maybe KS S’poreans should think of buying the shares of one of the local banks: remembering that you may not get back the amount invested if things go wrong. Equity premium risk leh.

And do remember: Using yr CPF OA as a savings account.

Why buy bank shares? Because PAP govt is friend of banks or so it seems: Why I hold Hongkong Bank and UOB shares

Chinese inventor, Kiwi manufacturers

In China on 17/12/2019 at 5:39 am

A Chinese inventor created Robo Fish – an electronic, plastic toy that moved in water – which Zuru manufactured. It pulled in $100m in annual sales.

https://www.bbc.com/news/business-50469922

Zuru was set up by three Kiwi siblings. They set up factories in China. Talking of carrying coals to Newcastle. Btw, the family are billionaires now. Btw2, inability to speak Mandarin was not a problem when they set up their first factory in China.

Another story of carrying coals to Newcastle: Bringing robot technology to Japan

Mad Dog, Lim Tean and other cybernuts are peddling fake news

In Political economy, Political governance, Public Administration on 16/12/2019 at 4:47 am

S’poreans are not unhappy with the PAP govt. In fact, they are very happy with the PAP govt.

If you listen to what  Mad Dog, Lim Tean, Meng Seng and other cybernuts say, you’d think that S’poreans are ready to vote out the PAP because they are unhappy with the PAP. But Blackbox data tells us otherwise.

https://outlook.live.com/mail/0/inbox/id/AQQkADAwATE0YzYwLWU2YjAtM2UzNC0wMAItMDAKABAA4AtiEIZDaEuAH0s0d8lzBw%3D%3D

Going more granular

 

18th century English philosopher, Edmund Burke, wrote:

“Because half a dozen grasshoppers under a fern make the field ring with their importunate chink, whilst thousands of great cattle, reposed beneath the shadow of the British oak, chew the cud and are silent, pray do not imagine that those who make the noise are the only inhabitants of the field.”

Translated for the benefit of cybernuts, “Six noisy grasshoppers share the field with thousands of cattle. Do not imagine that those who make the noise are the only inhabitants of the field.”

Vote wisely.

Btw, time to issue more POFMA orders?

 

What the Hongkies are hoping for by keeping up the protests

In China, Hong Kong on 15/12/2019 at 4:32 am

S’poreans, in general, take the view, that Hongkies are wasting their time protesting against China’s attempts to make HK more like S’pore in terms of political governance: Two cities, two systems

They should juz push for a massive HDB programme (When home ownership is less than 50%?) and other economic goodles.

Well

The hope was that eventually a Mikhail Gorbachev-like figure would appear in China who would allow universal suffrage in Hong Kong, Mr Chan says. “We don’t want to fight on the street. Why do we come out? Because the institution is not workable.”

FT

Wish them well. And remember this story. Given time, things can change.

Many years ago in a far away country a wise old teacher was in trouble with his King. The King sentenced the teacher to death, but listened to the teacher’s appeal.

The teacher pleaded for the King to give him five years in which to teach the King’s horse to talk. The King liked to own unusual things and a talking horse would certainly be unusual and after considerable thought said “yes”.

A friend of the teacher said to the teacher “Why did you make such a rash promise? You know no one has ever taught a horse to talk.” The teacher said in reply: “Sometime before the end of five years:

1. The King might change his mind and pardon me.

2. The King might forget that he sentenced me to death.

3. The King might die.

4. I might die.

5. I might teach the horse to talk.

In any event, I gain five years.”

https://naomistanford.com/2009/02/09/teaching-the-horse-to-talk/

Note that in other versions of the story, the “wise old teacher” is a con-man or trickster.

Time to investigate Catholic Church here?

In Public Administration on 14/12/2019 at 7:26 am

If the WSJ is correct, the Catholic Church has misled Catholics round the world, and misused donated monies. Worse than Kong Hee and pals. And they went to jail.

There’s something known as Peter’s Pence:

At present, this collection is taken each year on the Sunday closest to 29 June, the Solemnity of the Feast of Saints Peter and Paul in the liturgical calendar. As of 2012, the United States has donated the largest amounts, giving some 28% of the total, followed by Italy, Germany, Spain, France, Ireland, Brazil and South Korea. US donations totaled $75.8 million in 2008, $82,529,417 in 2009, $67,704,416.41 in 2010 and $69,711,722.76 in 2011.

Wikipedia

This means the faithful donate millions of dollars to the Vatican. But only about 10% goes to charity according to  the Wall Street Journal. The rest is used to finance the Vatican’s budget deficit.

Time to get the police to raid the offices of the Catholic Archbishop of S.pore? Not only does he tolerate Marxists in his office, he helps cheat the faithful: Archie goofed? Saboed? Tea cup storm ensues with credit to no one

Related post: Harry, 2 popes, Spectrum and Amos

Kin Lian talks sense on HDB flat as an investment

In Property, Public Administration on 13/12/2019 at 4:48 am

Anti-PAP types are using the issue of “HDB lease decay” to try to get S’poreans upset with the PAP: home ownership is above 90% of the population because of HDB flats.

“HDB lease decay” is the term describing the situation where the value of the HDB flat is a big fat zero at the end of the 99 year lease with the value starting to drop very sharply after the remaining lease becomes less than 30 years: (Background reading for those who have not followed the problem with HDB leases of less than 60 years: HDB flats: 35 is a dangerous age) Related link: Older HDB flats: How much value is lost in under 2 yrs.

Tan Kin Lian, PAP cadre gone rogue, wannabe president (He lost his deposit) and the PAP’s useful idiot (He helped the PAP’s preferred candidate win just by standing), waded into the HDB lease decay debate recently. Surprisingly the PAP’s useful idiot said some sensible things.

He wrote that

The phenomenal growth in the value of the HDB flat during the past decades came from three sources:

a) The HDB flats sold prior to 1980 were indeed cheap. It was sold by HDB at subsidized prices, based largely on construction cost. The value of land was negligible then.

b) All property prices, HDB and private, has escalated during the past five decades to the high level today.

c) There was a large boost during the last 15 years due to the influx of foreigners. This has reached its limit.

All this meant a 5 room HDB flat in Marine Parade that was sold for $35,000 in 1975 is now

with a remaining lease of 50 years, [has an] asking [price of] $850,000.

He goes on to say that the above three factors that contributed to the growth in value

is no longer available to the buyer of the HDB flat today. The buyer has to pay the current price, which reflects the high market price today. There is a small subsidy by the government, but not to the same extent as in the past.

The buyer cannot count on the huge growth in property prices in the future. The current prices are beyond the “affordability level”.

The reality is that the buyer of a HDB flat pays a high price for their flat and faces the prospect of the lease decay. It is no longer a good investment. It should be treated as paying advanced rental of the HDB flat for the remaining term of the lease.

He ends

Did the leaders “lie” when they said that HDB flat was a good investment? No, they did not. It was a good investment at that time. But times have changed. It is no longer a good investment today.

He’s right. But do remember that he was Goh Chok Tong’s Organising Secretary in Marine Parade in the 80s. Organising Secretary was and is a tua kee PAP appoitment.

My view has been that for the coming GE (I now think it’ll be in mid 2020. I”ll blog on this soon.), the issue of the ultimate worthlessness of an HDB flat doesn’t matter: Why Oppo cock to think that HDB issues will affect the vote.

It’ll only start mattering in the late 2020s: Why 30-year old HDB flats difficult to sell/ Why PAP rule will end in 2029.

I’ll end with shumething to ponder If LKY were alive, PAP govt wouldn’t publicly admit that HDB leases end worth nothing?

SingTel’s Airtel is jinked?

In India, Telecoms on 12/12/2019 at 9:53 am

Further to Who is right? Singtel or Vodafone? here’s more trouble at SingTel’s associate:

A bug was found in India’s third-largest mobile network which could have exposed the personal data of more than 300 million users.

The flaw, discovered in the Application Program Interface (API) of Airtel’s mobile app, could have been used by hackers to access subscribers’ information using just their numbers.

That information included things like names, emails, birthdays and addresses.

The flaw was fixed after the BBC highlighted the issue to Airtel.

https://www.bbc.com/news/world-asia-india-50641608

When home ownership is less than 50%?

In Hong Kong, Property on 11/12/2019 at 9:00 am

There be riots?

The high cost of housing in HK

Li [a taxi driver in HK] was amazed at how “cheap” apartments in Singapore are. He lives with his parents in a one-bedroom apartment that is worth HK$6.5 million (US$830,000). He cannot afford to move out and, with his fourteen-hour days, has neither the time nor money to date.

https://sudhirtv.com/2019/11/15/a-longform-on-hong-kong-vs-singapore/

mostly due to the lack of an HDB type building programme because the property tycoons have in the past successfully lobbied against massive public housing programmes in HK.

One cheer for the PAP’s housing policy?

Public housing: a brickbat, two cheers & constructive suggestions

Hong Kong to resume subsidising housing

means that home ownership has fallen below 50% of the population.

In Singapore, home ownership is above 90%.

 

“This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises,” LKY

He believed that owning a home gave S’poreans a sense of equity, that they own a part of the city, making them care more for the community. He also felt that home ownership would give Singaporean families an asset and a means of wealth accumulation.

———————

Wealth accumulation? What wealth accumulation?

Why 30-year old HDB flats difficult to sell/ Why PAP rule will end in 2029.


Now I.m not that stupid to think that the riots in HK could have been prevented by an HDB type policy and other economic measures aimed at reducing inequality. HK people are faced with a threat to their ang moh type freedoms: Honkies behaving like spoiled brats adopted by ang mohs (Cont’d)

But more public housing could have eased tensions: Bread and circuses.

Still not too late, if HK and Chinese govts are smart. But they don’t seem to be that smart. But maybe they are worried that a massive HDB type programme will cause unhappiness with those with mortgages to service? A massive HDB-type programme will result in lower values for existing private residential homes.

You might be interested in

Why our housing valuations look decent?

If LKY were alive, PAP govt wouldn’t publicly admit that HDB leases end worth nothing

Can toys protest here?

In Public Administration on 10/12/2019 at 4:37 am

The report that police are investigating after a report that a foreigner participated in a rally organised by Gilbert Goh reminded me of a recent BBC story

A protest art installation involving toys “holding” banners in the Bosnian city of Banja Luka has resulted in the arrest of one of the organisers.

Stefan Blagic, the leader of NGO ReStart Srpska, was detained by police after he refused to leave Krajina Square, according to the Buka news portal. He was released later that day.

ReStart Srpska describes itself on Facebook as an organisation which “unmasks the wrong and abnormal processes” in Bosnia and Herzegovina.

https://www.bbc.com/news/blogs-news-from-elsewhere-50558236

Only at Hong Lim Green, I suspect and if they are made in S’pore.

You might be interested in

Seelan Palay: Sylvia Lim was right: Jogging alone wearing the “wrong” tee shirt could be illegal.

PAP uses Lawfare against its opponents?

In S’pore we have rule by law not the rule of law

Who is right? Singtel or Vodafone?

In India, Telecoms on 09/12/2019 at 6:22 am

Recently SingTel doubled down on India.

It said it remained optimistic about prospects in India and said it is prepared to invest more money there, even as it reported a S$668m quarterly loss due to the problems faced by its Indian associate. It was forced to make a provision of S$1.4 billion to reflect its share of what Indian associate Bharti Airtel will have to pay the government following an adverse court ruling. Although underlying net profit rose 3% from a year ago to S$737 million,

Bharti recently this week that it planned to raise up to US$3bn through a mixture of equity and debt.

Vodafone sounds like it’s going to cut its losses.

Vodafone’s Indian joint venture will have to “shut shop” if the Indian govt does not intervene to stop a looming multibillion-dollar charge resulting from the same court ruling, the owner of Vodafone’s local partner warned.

Vodafone Idea, a partnership between the Aditya Birla Group and the UK-based operator, has three months to pay US$4bn in retrospective levies, penalties and interest.

 

Latest BS in asset mgt to steal yr money: ESG

In Corporate governance, Environment, Financial competency on 09/12/2019 at 4:37 am

ESG (Environmental, Social and Governance) scores are becoming ever more important in the marketing of financial products that are sold to the masses. At least US$3trn of institutional assets now track ESG scores, and the share is rising quickly.

Pure BS to charge higher fees

Why did the ESG investor cross the road?

If you’ve spent any time around the sustainable investing world, you might have heard the old joke: “What’s the easiest way to improve your company’s ESG score? Change your rating agency.”

Is it funny? That’s debatable. Is it cynical? Possibly. But is it rooted in truth? Absolutely.

FT

Don’t believe?

esg scores are poorly correlated with each other. esg-rating firms disagree about which companies are good or bad. The Economist has compared the scores of two big esg-rating systems, updating an analysis done by the imf earlier this year (see chart). It shows at best a loose link between the two measurement systems. The same lack of correlation holds even when the es and g scores are considered separately, according to the imf. Small wonder, then, that it found no consistent difference between the performance of esg funds and that of conventional ones.

Economist

The result

Tobacco and alcohol companies feature near the top of many esg rankings. And many funds marketed on their green credentials invest in Big Oil.

Economist

https://www.economist.com/finance-and-economics/2019/12/05/climate-change-has-made-esg-a-force-in-investing

 

 

Local start-up: “either genius or too clever by half”

In Uncategorized on 07/12/2019 at 7:04 am

Browzzin’s a S’pore-based company fashion-tech start-up. The FT says of it, “it is either genius or too clever by half” after its soft-launch in the UK.

It enables millennials who post Instagram photos of themselves to monetise their narcissism — if someone clicks on the photo, they can buy the outfit, or a similar one chosen by AI. For each purchase, the millennial gets a rake-off between 2 per cent and 30 per cent for some luxury offerings.

FT

“If you love my photo, you can shop my photo. It’s almost like running your own store,” said 29-year-old co-founder Zean Vo.

Lim Tean: talk cock king / Does he have dementia?

In Uncategorized on 06/12/2019 at 11:08 am

Lim Tean talked cock about that the nation anthem.

He told us everything about it was going to be changed. He said this because he read that on Sunday (1 Dec), Minister for Culture, Community and Youth Grace Fu announced that the National Anthem Majulah Singapura will be updated as part of celebrations to mark the 60th anniversary of Singapore’s national symbols.

No other details were disclosed except that the new version will be a rendition by the Singapore Symphony Orchestra. It will be broadcast across all Mediacorp, Singapore Press Holdings and Safra radio stations at 11.20am tomorrow (3 Dec), 60 years after the national symbols were first unveiled.

Listen and let me know if Lim Tean was telling the truth. I used the version of the anthem on TOC’s website because it has an English translation.

Only minor tweaks.

What a liar Lim Tean is

Look at Lim Tean’s record. Still no jobs rally after collecting money in 2017 for rally, and no picture, no sound after collecting money to sue CPF yrs ago: Finally Lim Tean called to account on a “broken promise”. To be fair, he did deliver on defamation video two years late. But it was BS.).

Can he be trusted to do anything but grab the money?

Is there really a better alternative to PAP 4G?

But maybe he’s not a money face but has dementia making him forget that he took money from the public.

Btw, I used TOC’s video because it includes an English translation of the lyrics. A TRE commenter has a good point about the lyrics that many S’poreans may not realise.

Majulah Singapura:
December 3, 2019 at 12:08 am (Quote)
The “Majulah Singapura” is symbolic of the country’s history and independence. The lyrics express the new spirit and aspiration of a people in their newly found independence. It is a call to progress, happiness, success and unity which are as relevant today as it was 55 years ago. To replace the country’s national anthem is to erase a significant piece in the history of our independence. The lyrics in Malay may not be understood and appreciated by non-Malay speakers, but they are simple and beautiful. This part of the Malay heritage in the nation’s multi-cultural history will be lost.

TRE

 

 

East Asians to dominate maths Nobel Prize soon?

In Uncategorized on 06/12/2019 at 4:20 am

OK, OK, I know that there’s no maths Nobel Prize. But the Fields Medal is regarded as the Nobel Prize in maths.

A Chinese, Vietnamese and Indian have won it, but Americans, French, Russians and Brits dominate the list of prize winners.

But going by u/m expect the yellow people will dominate the list soon. Indians will be upset.

 

 

Queen Jos keeps on talking cock

In Economy on 05/12/2019 at 10:37 am

This time on job market.

Queen of sex in small spaces was recently reported as saying

Current downturn unlike previous crises, as job market still holding up

Constructive, nation-building MediaCorp’s freesheet.

The piece went on

The ongoing economic downturn is unlike previous crises that Singapore has gone through — the job market is not as badly affected and there are still good job opportunities in certain sectors, Manpower Minister Josephine Teo said.

Read more at https://www.todayonline.com/singapore/current-downturn-unlike-previous-crises-job-market-still-holding-josephine-teo?fbclid=IwAR1Aof8zcQG48EKdg6hozCRnIxVGv_N9aYRS9-B6A34Oe0M13G5LUb0gDRE

Problem with her comments is that under the headline

Singapore property market faces risks from unsold units, uncertain economy: MAS

the equally constructive, nation-building CNA reported

“Ongoing uncertainties in the economic outlook and a softening labour market could negatively affect households’ incomes and their demand for property,” MAS wrote.

Already, hiring sentiment has turned cautious amid the growth slowdown, with fewer job vacancies than unemployed persons. It also noted that the number of workers placed on short work-week or temporary layoff has trended upwards, even as retrenchments remained low.

“Amid the possibility of an extended period of sluggish GDP growth, wage increases are expected to ease, which could weaken households’ debt servicing ability,” MAS said.

Sounds like the central bank disagrees with Queen Jos.

And there’s even worse news for those mortgaged up to their eyeballs fearful of losing their jobs or suffering pay cuts: falling property prices and negative equity

There is also further housing supply coming on stream, even as the stock of launched but unsold units builds up.

Figures from the report showed unsold units from launched projects, excluding executive condominiums, doubled to 4,377 units in the third quarter. This compares with 2,172 units the same period a year ago.

This increase is likely be exacerbated in the medium term, MAS said, as developers redevelop and launch projects on the flurry of en bloc sites sold between 2017 and 2018.

The central bank warned that having more unsold inventory “could place downward pressure on prices in the medium term, if unaccompanied by a corresponding rise in demand”.

Read more at https://www.channelnewsasia.com/news/business/mas-financial-stability-review-property-risks-unsold-homes-12133586

But as I said in TRE cybernuts and central bank singing from the same song sheet the solution is simple:

 [J]ust remove Additional Buyer’s Stamp Duty (ABSD) and prices will cheong.

Vote wisely. But the problem is

“Is a coalition that includes Mad Dog, Lim Tean and Meng Seng a better alternative to the 4G?”

Look at Lim Tean’s record. Still no jobs rally after collecting money in 2017 for rally, and no picture, no sound after collecting money to sue CPF yrs ago: Finally Lim Tean called to account on a “broken promise”. To be fair, he did deliver on defamation video two years late. But it was BS.).

Is there really a better alternative to PAP 4G?

PRC tourists sleeping on the streets?

In Economy, Tourism on 05/12/2019 at 3:59 am

Singapore’s tourism receipts declined 3.0% in the first half of 2019 despite a 1.3% increase in the number of international visitors. I note that China’s tourist receipts were down 10% despite visitor arrivals being up 7% in Q219.

Are the PRC tourists sleeping rough, in the streets? Because accommodation spending was the main drag in Tourism Receipts, with the sector suffering a 13% decline in the first half of 2019 compared to the same period in 2018.

Whatever, we seem to be attracting the low quality Chinese tourists, not those who shop for LVMH, Richemont (owns Cartier) or  Kering (owner of Gucci) products. And who don’t even patronise the slot machines at the casinos.

They all go to Geylang to patronise other PRCs?

If LKY were alive, PAP govt wouldn’t publicly admit that HDB leases end worth nothing

In Property on 04/12/2019 at 4:16 am

Last Saturday, the “Future Of Singapore” launched its housing policy reforms proposal, with speakers talking about proposed reforms to the Hard Truth that HDB leases are worth zero at the end of 99 years.

This reminded me of something interesting I read recently by someone’s whose views I respect (and better still, enjoy reading) and the title of this piece seems to be something he infers.

But first, let me talk about some related matters before introducing you to the writer and his thoughts.

Our cybernuts love to quote our dearly loved and departed Harry that the value of their HDB “will never go down”. They then KPKB that HDB leases will end worth nothing to the owners at the end of 99 years. They think he the 9th Immortal isit?  Can suka suka change the law isit?

They also say that the HDB problem will be a game changer in the coming GE. The PAP will lose a lot of votes and the Coalition of Spastics win win with this: Election manifesto of Spastics League.

My view has been that for the coming GE (I now think it’ll be in mid 2020. I”ll blog on this soon.), the issue of the ultimate worthlessness of an HDB flat doesn’t matter: Why Oppo cock to think that HDB issues will affect the vote.

It’ll only start mattering in the late 2020s: Why 30-year old HDB flats difficult to sell/ Why PAP rule will end in 2029.

And as Dr Paul Thamby (Mad Dog’s minder and Chairman of the SDP) rightly says, if the PAP govt wants to fix the problem, it’s only an administrative matter. He seems to think somewhere along the line, the PAP govt will extend the leases and in return extract money from the plebs.

———————-

Related post:

————————-

Coming back to the title of this piece and the second paragraph, I enjoy reading Sudhir Thomas Vadaketh even if he tends to go on and on.

In a recent piece comparing S’pore to HK, he has an interesting thought that chimes with the cybernuts views on the HDB problem. He hints that the PAP govt only talked openly about the HDB leases ending worth nothing to the owners at the end of 99 years after Harry’s death because LKY had said of HDB flats:

that their value “will never go down”.

This is what he wrote

Many Singaporeans, meanwhile, may come to believe that their own government—like in Hong Kong, the biggest landowner—has misled their investment decisions. Since independence in 1965 the government has sold public housing with restricted 99-year leases, repeatedly promising, in the words of Lee Kuan Yew, the first prime minister, that their value “will never go down”.

Most assumed the government would reacquire them at fair value. Only recently, following Lee’s death, has it flip-flopped to confirm what some feared: the properties will be worth nothing at the end of their leases. (At which point the government can redevelop the land.)

Put another way, for almost ninety per cent of Singapore’s population, their largest assets and nest eggs, some worth over S$1m (US$740,000), will start to shrink relentlessly to zero at some point during their (or their heirs’) lifetimes.

He then goes on

By contrast those in the upper ten odd per cent, including most politicians and senior civil servants, have wisely purchased freehold homes, many now worth tens of millions of dollars. Their assets will presumably keep appreciating long after their descendants have inherited them (with no estate duties). Singapore appears to have created an intergenerational time bomb of Pikketyan proportions.

https://sudhirtv.com/2019/11/15/a-longform-on-hong-kong-vs-singapore/

Hold yr horses Tommo. Don’t be a cybernut. And anyway, TRE’s cybernut-in-chief thinks S’pore property prices will crash. But Oxygen’s been saying that since he left S’pore decades ago fearing detention. He left S’pore but can’t get S’pore off his mind. He still has a CPF account that he uses to dodge Aussie tax. Talk of being an ingrate. Smart of the PAP to get rid this trash from S’pore.

Seriously, if Tommo is right if Harry were still alive, Larry Wong wouldn’t have dared open his month in 2017. See Fixing Sabo King minister.

And maybe Harry when he was alive, was in private, demanding a technical fix? So that he would not be wrong to say of HDB flats:

that their value “will never go down”.

What do you think?

Final tot: LHY instead of KPKBing that his Tai Kor’s PAP is not their grandfather’s PAP should share with S’poreans what Harry wanted done on the HDB problem: if LKY had any tots on the matter that LHY knows about.

 

Changing our pledge

In Uncategorized on 03/12/2019 at 4:18 am

When TRE reported that there would be a new rendition of our nation anthem, there was this great comment (slightly edited)

NotMyProblem:

I would suggest change our pledge instead.

Remove the words – equality, democracy, race, justice from the pledge so that PAP can honour it easier.

The citizens would like to honour the pledge but the PAP is unable to do it, so for the benefit of the PAP, change it!

He’s got a point: since its all aspirational according to Harry.

The new pledge would read:

“We, the citizens of Singapore,
pledge ourselves as one united people,
regardless of race, language or religion,
to build a democratic society
based on justice and equality
so as to achieve happiness, prosperity
and progress for our nation.”

It’s all about money. Hmm really reflects our Pap And Pap society.

(Following added minutes after publication)

Related posts:

Fake News: S’pore is Pay And Pay/ Truth: Plenty of gd, free stuff

Pay And Pay in action

Got to Pay and Pay for personal safety

Why Pay And Pay Party has a point about scroungers

CPF changes: Rob Peter to Pay Paul and worse

But to be fair: Where we don’t Pay and Pay

 

 

Fake news is in the eyes of the beholder

In Public Administration on 02/12/2019 at 4:00 am

So far my attitude to the PAP’s govt use of POFMA (Protection from Online Falsehoods and Manipulation Act) chimes with that of one Adrian Tan who posted on FB

Based on the Mindef law suit, I was sceptical about what ministers say in parly when passing laws. But so far POFMA couldn’t have been used on nicer people. 🤪 Restoring my faith in what ministers say. 🤣

(Note he was referring to the law suit against, Dr Ting Choon Meng and TOC brought under Protection from Harassment Act (POHA) which a minister had assured us, when it was a bill, that it vwas meant to be a remedy for the little people. Ultimately the courts decided that Mindef could not use the law to harass Dr Tan and TOC.)

But

Critics say the law threatens freedom of expression. Amnesty International said it would “give authorities unchecked powers to clamp down on online views of which it disapproves”.

BBC

But AI is no friend of the PAP govt. In fact, its motto seems to be “Die, die must say bad things about the PAP govt.”  They sound like our very own cybernuts.

Seriously, even we in S’pore live in a post-truth age (Race is BS or “post-truth” at work?) even though the PAP govt has passed the Protection from Online Falsehoods and Manipulation Act.

Btw, one Paul Johnson a towering right wing intellectual in his book Modern Times blamed Albert Einstein for making the truth relative.

Whatever, there’s no truth out there to seek out because

Our first single malt whisky uses Newater?

In Uncategorized on 30/11/2019 at 11:43 am

Dram come true: Singapore’s first single malt whisky is now in production

As the uniqueness of any good Scotch depends on the unique spring or stream the water comes from, so as  Newater is “Uniquely S’porean”, our very own single malt must use Newater.

—————————

The NEWater process recycles our treated used water into ultra-clean, high-grade reclaimed water, cushioning our water supply against dry weather and moving Singapore towards water sustainability.

Today, there are five NEWater plants supplying up to 40% of Singapore’s current water needs. By 2060, NEWater is expected to meet up to 55% of Singapore’s future water demand.

PUB

————————————–

TRE cybernuts and central bank singing from the same song sheet

In Economy, Financial competency, Property on 30/11/2019 at 11:32 am

A recurring tune that TRE’s cybernut-in-chief “Oxygen” and his pals (like “Jihadist Joe” aka “Bapak”) shout is that the property market sure to crash and that when that day comes, they shout that they’ll be having orgasms of joy seeing their fellow S’poreans (even anti-PAP voters) suffer. Problem is that they’ve been predicting this since when TRE started (circa 2007, I think).

So my conclusion in reading the u/m headline from the usual constructive, nation-building CNA is that MAS must have been infiltrated by said cybernuts. Time for the ISD to investigate senior central bank officials for being anti-PAP?

Singapore property market faces risks from unsold units, uncertain economy: MAS

Singapore’s property market faces “potential downside risks” from a large supply of unsold units in the medium term and an uncertain economy, said the Monetary Authority of Singapore (MAS) on Thursday (Nov 28).

In its annual Financial Stability Review, the central bank urged prospective buyers, especially households that are highly-leveraged, to be mindful of risks and remain prudent.

Property firms that have built up high levels of leverage and hold large unsold inventory should also exercise prudence …

These concerns come against the backdrop of a moderation in the private residential property market following the cooling measures introduced in July last year.

https://www.channelnewsasia.com/news/business/mas-financial-stability-review-property-risks-unsold-homes-12133586

Don’t they know there’s a GE (My prediction in 2018 Akan datang: GE in late 2019) and GST rise (How PAP can win 65% plus of the vote) round the corner?

Seriously, just remove Additional Buyer’s Stamp Duty (ABSD) and prices will cheong.

Related posts:

Forgot (ignored?) asset inflation?

Look at our private housing, it’s expensive:

Buying homes the billionaire way: two luxury homes are better than one

Why S$73.8m flat is a steal

Why S’pore is so shiok for private property investors

And even in private property there are govt controls

Ang moh’s great insight on property mkt

PAP whacks greedy pigs

 

 

 

 

Bringing robot technology to Japan

In Japan, Logistics on 30/11/2019 at 5:27 am

This sounds like “Carrying coal to Newcastle” as the saying goes.  This saying was already well known in the mid-1500s, when Newcastle-upon-Tyne in England had been a major coal-mining center for 400 years.

But it’s real happening. Ocado, is the UK food delivery service that has transformed itself into a provider of automated warehouses for retail chains, is to build the online business of Aeon, Japan’s largest supermarket operator.

Orcado is already this for major supermarket chains in the UK, US and France.

Is there really a better alternative to PAP 4G?

In Uncategorized on 29/11/2019 at 4:34 am

I tot this as I watched a Mad Dog video where in Malay he dissed the PAP’s 4G team.


My tots on how meritocracy, S’pore-style works:

Yup, I’m no fan of the $G team

Why PAP doesn’t do accountability, meritocracy

Meritocracy? What meritocracy? How our PMs are chosen

Connecting SMRT failures, 4th gen ministers & change of PM (Or “Another Heng cock-up”)

Why do we keep getting mediocre ministers?

Why cabinet can’t do bold new ideas

More on Hali’s judgement between 2007 -2011/ Meritocracy? What meritocracy?

Meritocracy? No leh Cosiness

Meritocracy’s feet of clay: Ong Ye Kung

Note this section was added minutes after first publication.

————————————————

Problem is “Is a coalition that includes Mad Dog, Lim Tean and Meng Seng a better alternative to the 4G?”

Look at Lim Tean’s record. Still no jobs rally after collecting money in 2017 for rally, and no picture, no sound after collecting money to sue CPF yrs ago: Finally Lim Tean called to account on a “broken promise”. To be fair, he did deliver on defamation video two years late. But it was BS..

Can he be trusted to do anything but grab the money?

Here’s the Election manifesto of Spastics League.

WTF: Personal water bottles banned/ Pay And Pay at work?

In Uncategorized on 28/11/2019 at 5:55 am

 

 

 

 

This image (via Sonny Liew) was taken from

U2 The Joshua Tree Tour 2019 Live in Singapore

30 November 2019
National Stadium

https://mediabank.sportshub.com.sg/documents/EDM-library/U2-2019/eventguides/30nov/U2-2019-EventGuide-30Nov-Standing.html?fbclid=IwAR0-w0M4FnfXN48ThHp01isiG6T5P4Wbw0Im3YNRufXkAgolY8y6zWqAJh4

Sounds like forcing people to buy drinks from 4.30 onwards

Queue Start Time: 4:30PM
Gates Open Time: 5:30PM
Event Start Time: 8:00PM

What happens if people get dehydrated, unable to buy drinks because the queues for drinks are very long?

If people die or are physically injured as a result of dehydration, will action be taken against the organisers? Of course, they organisers can be sued in tort for damages

But best if the PAP govt steps in now to prevent deaths and injuries. There’s an election coming.

But “PAP” stands for “Pap And Pay” as Mrs Lina Chiam and others (self included) have said.

And wondering out loud: why did the the health and safety authorities allow this personal water bottle ban in the first place?

Btw, we are wasting money on bottled water: Water: Why Tun should thank S’poreans

(Last two sentences added minutes after first publication).

Water: Why Tun should thank S’poreans

In Economy, Environment on 27/11/2019 at 11:34 am

He should thank us for being so generous with our money. But he’s a born ingrate. Look at what he’s doing to ensure that Anwar doesn’t become his successor, as he promised. He made that promise when he needed Anwar’s help to become PM.

Seriously, further to What Tun and our alt media don’t tell us about the water supply from Johor, do you know S’poreans with more $ then sense are spending at least S$81.6m annually buying water from M’sia? We roughly import 204 million bottles of water and at an price of say $0.40 cents a bottle, we are giving Tun money for old rope, as the saying goes. According to United Nations trade data, most of Singapore’s bottled water is imported from M’sia.

Singapore imports about 17 million bottles of water per month from Malaysia alone, Mr Masagos Zulkifli said on Monday (Nov 4), citing latest figures compiled by the Singapore Food Agency.

Read more at https://www.channelnewsasia.com/news/singapore/singapore-import-bottled-water-malaysia-12062780

The Minister for Environment and Water Resources was speaking in a written reply to Nominated Member of Parliament Mohamed Irshad.

What this means is that we are importing 204 million bottles a year and this costs us S$81.6m assuming a 600ml bottle retails at S$0.40 (It often costs more). F&N and Coca-Cola the companies manufacturing the most popular varieties here source water from West M’sia and a 600ml bottle from the former is S$0.36 cents and a bottle from the later costs S$0.40.

————————————————

The price of 1 litre of tap water in Singapore? $0.00274.

https://blog.seedly.sg/bottled-water-brand-price-evian-volvic-badoit-why-so-expensive/

——————————————————————

In 2016, CNA reported (reconfirmed earlier this yr) that F&N and Coca-Cola – the companies manufacturing the most popular varieties here – sourced tap water from West M’sia.

[A] significant number – including market leaders like F&N’s Ice Mountain and Coca-Cola’s Dasani – are sourced from public water supplies. These two brands made up more than half of the bottled water sales volume in Singapore last year, according to Euromonitor data.

When contacted, F&N confirmed that Ice Mountain sold in Singapore “is sourced and packed in Malaysia from tap water”, while Coca-Cola said that Dasani produced for the Singapore market comes from “the local water supply at (its) facility in Malaysia”. Both companies also said they have multiple purification processes in place, which distinguishes their “pure drinking water” from tap water.

Read more at https://www.channelnewsasia.com/news/singapore/singapore-s-s-134m-bottled-water-addiction-7633342

The 2016 article, focused on how demand for still bottled water was growing, went on sounding upset that S’poreans

are willing to pay as much as a thousand times more for bottled water when clean, drinkable tap water is readily available at a nominal charge has left some environmental advocates and experts scratching their heads.

A 600ml bottle of drinking water usually retails for about S$0.50 to S$1. According to PUB, the same amount of tap water only costs 0.1 cent, making it 500 to 1,000 times cheaper than bottled water. This price differential, while significant, is not sufficient to motivate consumers to move more to tap water, said Prof Ng, who is the executive director of the Nanyang Environment & Water Research Institute at NTU.

Read more at https://www.channelnewsasia.com/news/singapore/singapore-s-s-134m-bottled-water-addiction-7633342

————————————————

Reminder

The price of 1 litre of tap water in Singapore? $0.00274.

https://blog.seedly.sg/bottled-water-brand-price-evian-volvic-badoit-why-so-expensive/

——————————————————————

Coming back to the minister and NMP, the NMP asked about the government’s plans to install more water dispensers and water coolers at places such as office buildings, shopping centres and public transport stations.

Minister said

Given that water from the tap in Singapore is perfectly safe to drink, we can and should definitely do more to reduce consumption of bottled water.

Minister

Hear, hear.

Minister should have added: “The price of 1 litre of tap water is $0.00274.”

 

 

 

 

Chill wind from emerging mkts

In Currencies, Emerging markets on 27/11/2019 at 7:18 am

Is winter coming?

If the US$ strengthens, developing countries will be in trouble because foreign currency debts (i.e. US$ bebts mainly) are falling due big time next year.

 

 

 

 

 

 

 

 

 

 

 

 

And many may not have the $. M’aia and Indon are OK. Lots of reserves.

 

 

 

 

 

 

 

 

 

 

 

 

FYI

Soon can buy M’sian apt for less than 2-room HDB flat

In Malaysia, Property on 26/11/2019 at 11:04 am

From next yr, foreigners can buy property in federally-governed territories (mostly areas in and around KL), for only 600,000 ringgit (S$198,000: S$200,000 seems to be the value of a 2-room HDB flat in Bedok) following a move by Tun’s government to slash the threshold for foreign buyers by 40% to address an oversupply of high-rise units.

Finance Minister Lim Guan Eng announced the measure in October when he outlined Malaysia’s 2020 federal budget, saying that addressing the oversupply would boost the economy.
Tun (Remember he didn’t want foreigners to buy property in Johor when he came to power?) later warned that “crisis” loomed if the glut in supply was not resolved: “We have to get rid of this overhang so that the market for property becomes healthy again. We need to sell them or the developers will get into trouble.” Mahathir said. The  housing minister, Zuraida Kamaruddin said she hoped the measure would help “restore the financial position of Malaysian developers”.
But Johor or Penang, the places that S’poreans prefer, are not playing ball:

While the central government intends to lower the threshold for units in federally-governed territories next year, individual state governments are not compelled to follow suit.

Although leaders from Penang, Selangor and Johor – states suffering from an oversupply of high-end condominium units – have said they are reviewing their foreign-ownership property thresholds, two of the states have said that the 600,000-ringgit figure is too low.

In some states, foreign buyers are currently limited to property priced at 2 million ringgit(US$480,000)or above.

https://www.scmp.com/week-asia/politics/article/3036959/us145000-malaysian-homes-get-cheaper-foreign-buyers-will-locals?fbclid=IwAR2zWYqIOT3HUExC4xH47o9rUF4KNLrsjDFk1McqPVCg2SmkViGZLsMrFIE

————————————–

Related posts:

What a 4-room HDB flat buys in Iskandar & KL

S’poreans own Iskandar

Iskandar: Dummies Guide on why it’s rubbish


I’ll end with

Li [a taxi driver in HK] was amazed at how “cheap” apartments in Singapore are. He lives with his parents in a one-bedroom apartment that is worth HK$6.5 million (US$830,000). He cannot afford to move out and, with his fourteen-hour days, has neither the time nor money to date.

https://sudhirtv.com/2019/11/15/a-longform-on-hong-kong-vs-singapore/

 

Enough space for Queen Jos to have sex? (cont’d)

In Uncategorized on 26/11/2019 at 4:17 am

This video about an Ethiopian building a two storey home on a truck reminded me of Queen Jos’ remarks:  https://www.bbc.com/news/av/world-africa-50508590/how-an-ethiopian-built-a-three-bedroom-home-in-a-truck?intlink_from_url=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fworld%2Fafrica&link_location=live-reporting-map

Related post: Enough space for Queen Jos to have sex?

Welcome to Peenoy Land

In Uncategorized on 25/11/2019 at 11:16 am

Southeast Asian Games host the Philippines apologised on Sunday (Nov 24) after some arriving athletes were left stranded for hours at the airport or were driven to the wrong hotel, a logistical snafu that drew criticism just days before the competition starts.

Athletes have begun flying into Manila ahead of Saturday’s opening, but for Cambodia and East Timor’s football squads the arrival was not what they were expecting.

“We had to wait maybe like eight, nine hours to get our hotel,” Coach Felix Dalmas of Cambodia told a press conference Sunday, adding that they had also waited hours for the shuttle service.

[…]

East Timor’s team was driven to the wrong hotel, complicating their arrival and training schedules.

“All nations deserve respect and what happened yesterday was not so beautiful,” East Timor’s coach Fabiano Flora told reporters.

Read more at https://www.channelnewsasia.com/news/asia/sea-games-philippines-apology-12121398

 

Ever wondered why PM wants to build polders?

In Economy, Property on 25/11/2019 at 4:29 am

And not reclaim land the traditional pa’s way, using sand?

In his National Day Rally speech in August, PM talked of building polders along the eastern shoreline from Marina East to Changi. This would protect us from a sea-level rise while also allowing us to gain more land: “new land which we can use for housing and other purposes,” PM Lee said. What he didn’t say was that the land would be sold on 99-year leases, with the revenue going direct to the reserves.


What are polders?

Polders are land below sea level reclaimed from the sea. They are constructed by first building walls around the area to be reclaimed from the sea and then draining water from it. Water levels in the polders are then controlled by drains and pumps. The Dutch are masters of polder building and maintaining them.


This is not the PAP govt’s way of copying* what worked in the past: think traditional land reclamation.  Once upon a time, there were hills in Bedok. Earth from these hills was used to reclaim what is now Marine Parade. Flats were then built (and sold on 99 year leases) on the Marine Parade reclaimed land and the now hill-less Bedok.

We soon ran out of local earth to use for reclamation and began importing sand from M’sia and Indonesia. As usual the govts there complained publicly that what we were doing broke their laws, but they quietly allowed the trade to go on so long as their exporters paid bribes. But we had to move on to import sand from Vietnam and Cambodia. There the govts kept quiet about the trade, so long as their exporters paid bribes. At least the govts were not hypocrites like Tun.

But the entire region is running out of sand to sell to

Singapore, a world leader in land reclamation.

The BBC continues

To create more space for its nearly six million residents, the jam-packed city-state has built out its territory with an additional 50 sq miles (130 sq km) of land over the past 40 years, almost all of it with sand imported from other countries. The collateral environmental damage has been so extreme that neighbouring Indonesia, Malaysia, Vietnam, and Cambodia have all restricted exports of sand to Singapore.

https://www.bbc.com/future/article/20191108-why-the-world-is-running-out-of-sand  Written earlier this month.

So we are going to build polders.

Related posts:

I predicted what he’d say: What PM will say in National Dally Rally speech

2025: LKY’s memorial unveiled

We can use 100% green energy by 2035 but won’t


*Why S’pore’s economic progress went downhill after Dr Goh retired

 

 

SGX: Global sua kee

In Uncategorized on 24/11/2019 at 1:29 pm

Angry, little people fight back

In Corporate governance, Financial competency on 24/11/2019 at 6:38 am

otter saluting flagGreat to see minority shareholders do something other than go to and whine to that toothless, flea ridden watchdog that is the Securities Investors Association of S’pore asking for help, or to failed presidential candidate who lost his deposit (and PAP enabler) Tan Kin Lian for help.

A group of minority shareholders of Magnus Energy shot down all the resolutions put forward at the recent annual general meeting on Oct 30. They ousted three of the directors and blocked the reappointment of the external auditor as well as the mandate to issue shares to raise funds or pay director’s fees.

Then

On Nov 7, these shareholders, who hold a total stake of about 10%, sent Magnus Energy’s board an extraordinary general meeting requisition notice.

https://www.theedgesingapore.com/news/shareholder-activism/penny-stock-linked-magnus-energys-past-transactions-under-spotlight

And that’s not all, they are suing past and present directors for breaches of general and fiduciary duty.

Wow. These are really very angry shareholders. Can’t blame them. before the shares were suspended from trading in Aug this year, the share price was 0.1 cent. They were at a high of $3.75 in February 2013.

Bit harsh on SIAS? Go read

Why SIAS should sit down and shut up

FBI in US, SIAS, SGX here

SIAS: Close it down

Hyflux: Can believe or not?

HK riots not that violent meh

In Hong Kong, Media on 23/11/2019 at 11:13 am

I’ve KPHBed (HK: Int’l media coverage shows PAP got point on media?) that the ang moh media (including my favourites, FT, Economist and BBC: yup I’m an anglophile) exaggerate the severity of the violence (especially police “brutality” in HK).

Only two people have died despite

Rules of engagement that in July were consistent with best international practice—rubber bullets fired only below waist height, tear-gas used to disperse not to kettle—have been thrown out of the window. Beatings at the time of arrest have become commonplace, sometimes escalating to frenzy. On November 11th an unarmed protester was shot in the stomach at point-blank range. And all this with impunity. Officially, only one officer out of over 30,000 has as yet been suspended for any action against a protester.

and

[P]rotesters have vandalised (or, in protest slang, “renovated”) state banks, Hong Kong’s biggest bookseller (which is owned by the Liaison Office) and restaurants with sympathies assumed to lie with the Communist Party. Rioters now set fires not only on the streets but inside buildings. On November 6th a pro-establishment politician with known links to the triads in Yuen Long was stabbed in broad daylight. People fear being attacked simply on the basis of being Mandarin-speaking mainland Chinese. Nihilism is trumping romanticism: “If we burn, you burn with us”, a rebel slogan from the climax of the Hunger Games saga, has gained currency. Earlier this month it was given awful form when a bystander confronting protesters was doused with something flammable and set on fire (he survived).

So I’m glad that the Economist owned up in an article (above quotes also from said article to show up its reporting):

The violence of the Hong Kong protests, and of the response to them, is hardly remarkable by international standards. Much worse has happened in Baghdad, Beirut, Santiago and Tehran over the past months.

https://www.economist.com/briefing/2019/11/21/hong-kong-stares-into-the-abyss-amid-growing-violence

I’m not saying that the violence from both sides in HK is reasonable. It is unreasonable but let’s keep things in perspective especially police violence.

Many years ago when I was a student in the UK, I watched a Panorama documentary showing the French riot police at work and in training. They were a bunch of thugs with the sheriff’s badge.

Another Panorama documentary I watched years later about the UK miners’ strike in the 80s, showed that even ordinary policemen can get carried away when confronted with violent, angry crowds. I remembered the scenes where the police beat their plastic shields with their truncheons like Roman legionaries, before charging. Tribalism at work.

Related post: HK protests: Surreal moments

 

M’sian SOE debt at dangerous level

In Energy, Malaysia on 23/11/2019 at 3:53 am

Much of the deterioration in finances and credit ratings in developing countries state-owned enterprises are

due to the predominance of oil and gas companies among SOEs, Cnooc and Sinopec of China, Gazprom of Russia, Petrobras of Brazil and Malaysia’s Petronas as well as Pemex, which have been hurt by the fall in oil prices since 2007.

FT

Emphasis mine.

 

Want Tun to run S’pore?

Ang mohs: Don’t teach us Chinese to suck eggs

In Uncategorized on 22/11/2019 at 6:35 am

Or to be more accurate, “Don’t teach us ethnic Chinese to eat meatless meat”.

Us ethnic Chinese have been eating meatless meat for centuries. Why are arrogant US cos talking about meatless meat to us ethnic Chinese?

Under a headline “In an Year of the meatless Pig”, the very ang moh FT reported that two US meat substitute companies “have set their sights on China, which consumes almost a third of the world’s meat”. Beyond Meat is looking to start production in China next year, with Impossible Foods exploring potential partnerships with government bodies and corporations: the latter needs approval for its product because food made from genetic manipulation is banned in China.

Swine fever has wiped out most of the pig population (Grandpa Xi’s biggest headache), and the ang moh cos say they are offering alternatives.

But as FT points out in its Lex column, FT’s brain,

[U]nlike the US, appetite for the new meat substitutes is weak in China. China already has an array of soy-based meat alternatives and tofu dishes for its vegan Buddhists. Outsiders may also vastly underestimate how crucial traditional pork is for Chinese cuisine. It would be difficult to replicate the texture of delicacies like pig fat, feet and brains.

Bit racist that bit about “pig fat, feet and brains” and it left out mock duck, my favourite meatless meat dish.

Btw, I got a beef about Impossible foods. Traditionally around Christmas I treat myself to Cold Storage’s beef lasagna ordered via their Christmas catalogue. This year, there’s an Impossible Foods lasagna, not the usual beef one. And it’s priced at 33% more than the now beef absent one. I decided to try the beef stew (new dish in catalogue).

 

Great PR BS as Alibaba eats rival’s lunch

In China, Internet on 21/11/2019 at 10:52 am

Pinduoduo (China’s fastest-growing ecommerce site) posted 123% sales growth in its latest quarter, narrowly missing market expectations. Its losses unexpectedly more than doubled, and shares were down 22% in early trading.

“When numbers are really beautiful, it will usually mean . . . we were being too conservative,” said Pinduoduo founder and chief executive Colin Zheng Huang, FT reports. Btw, he owns 44.6% of the co and 89% of the voting power.

He claims Alibaba is asking retailers to choose between the his co or Alibaba.

India die die must compare itself to China

In China, India on 21/11/2019 at 4:50 am

Onion prices in India have soared to eye-watering heights, leading to worries about food inflation and consumer unrest as climate change hits production of one of the country’s most important vegetables.

FT

Sounds like India likes comparing itself to China. If China has a problem with a shortage of pigs to eat, (Grandpa Xi’s biggest headache) die die India must find similar problem.

Millionaire ministers watching wrong place

In Political economy, Political governance, Public Administration on 20/11/2019 at 7:28 am

Above was what I tot when I read a constructive, nation-building headline that screamed

Singapore watches Hong Kong ‘with concern’; current situation at ‘breaking point’: Chan Chun Sing

Read more at https://www.channelnewsasia.com/news/singapore/singapore-hong-kong-concern-breaking-point-chan-chun-sing-12104088

As usual he’s clueless. Can he really be an RI boy? But then Tan Kin Lian is also an RI boy. As is Tan Jee Say and Lim Hng Kiang. Thank God, Peter Lim, Edmund Wee (Creative thinking at URA), Rashid Hussain (Remember him?), Dr Paul Thamby (makes sure Mad Dog takes his pills), Ang Yong Guan and Erika Poh are also from RI.

Seriously, Kee Chiu and his fellow millionaire ministers are watching the wrong place. They should be watching the riots in Chile with fear and trepidation because while S’poreans are starting to think like the Chileans who riot, the PAP govt is behaving like the clueless Chilean govt (headed by a billionaire president), prior to the riots. Btw, it Chilean govt is still clueless. But I want to emphasis what it and PAP govt miss about what the voters in both countries really want.

Let me explain.

Further to What riots can achieve, about how the Chilean rioters forced the govt to scrap MRT price rises, increase minimum wages etc, here’s a quote that TOC’s M’sian Indian goons and cybernuts will say applies here too

Most Chileans worry about “low pensions, lack of access to decent housing, health care and medicine, and of again falling into the poverty from which they escaped”, the rector of the Catholic University, whose economists dreamed up the Chilean “model”, wrote this week.

Economist

Here’s where the situation sounds like S’pore, giving the lie to what PAPpies like Kee Chiu and Kate Spade Tin (Remember her?) about poverty being absolute, not relative,

“Chile’s problems are more to do with the expectations that come from success. Standards have become higher and . . . the last administration and this administration do not offer anything fresh, any vision for the long-term economic future of the country.”

(Nicholas Watson, Latin America managing director at the consultancy Teneo talking to the FT.)

And

[P]roblems are more to do with the expectations that come from success. Standards have become higher

FT

Other than rising expectations, the really big problem in Chile that is very relevant in S’pore is

 the last administration and this administration do not offer anything fresh, any vision for the long-term economic future of the country

FT

Yes, yes, I know the PAP always has a master plan for the future. And PM and Heng have been talking about the latest. But as I’ve explained before, it’s all copy and paste.

———————————————–

Another decade, yet another copy and paste restructuring report

“I’m sorry but

“We are feeling the pains of restructuring, but not yet seeing the dividends of our hard work. But we are pursuing all the right strategies, and I am confident that given time these strategies will work for us.”

smacks of “Jam to-morrow and jam yesterday – but never jam to-day”

Pardon my cynicism.

We’ve been here before. How many times has economy been “restructured” since the 80s? And how many times have SMEs been helped to “restructure and tide through challenging times”?”

Economic restructuring: This time, it’s really different

And

Another decade, another restructuring report?

In the 80s, one Lee Hsien Loong as trade and industry minister headed a committee to recommend changes in the economy. In the early noughties when DPM he headed another committee on the same issue.

In 2010, one Tharman and his committee produced the 2010 Economic Strategies Committee (ESC). And now there’s the CFE. It’s a bit early, but then there wasn’t a report in the 90s: so maybe making up for lost time?

 

If Lee Hsien loong’s 1980s plan was so successful, why keep needing plans every decade? Plan succeeded, but circumstances change said people from constructive, nation-building media like Balji and Bertha then. Really?

Here’s a riposte to recent platitudes by Heng that Mad Dog Chee vetoed the SDP from using: “Pull the other leg Heng, it’s got bells on it”

—————————————————————————————————

What I’m really saying (in the box above) is that the time is coming soon that the copy and pasting will not work even incrementally.

Returning to what’s happening in Chile

This arson was part of a collective nervous breakdown in Chile, ranging from peaceful protests demanding a fairer and less unequal society, to nightly looting of supermarkets and feral criminality, with marauding delinquents robbing homes.

Economist

Turning to my comment that S’poreans are starting to think like the Chileans who riot.

Singapore citizens feel stuck in their social classes, according to a survey of 4,015 people aged 18 and above that was conducted between August 2018 and January this year by a state-backed research organisation.

Asked by the Institute of Policy Studies at the National University of Singapore if they felt their financial status would improve in a decade’s time, more than five in 10 said they would experience negligible financial mobility while fewer than one in 10 felt their fortunes would decline.

This pessimism persisted across education levels. Only 44 per cent of those with a degree were hopeful of upward mobility in 10 years’ time, with the figure falling to 40.6 per cent for Singaporeans with vocational training or a polytechnic diploma. For those with a secondary school education or below, such as food deliveryman Alroy Ho, 32, only 23.8 per cent expected to do better in future, with 10.6 per cent thinking they would be worse off.

No not Terry’s Indian M’sian goons trying to stir the pot for CIA or MI6 $ but the

The findings, released on October 29 in a paper titled Faultlines in Singapore: Public Opinion on their Realities, Management and Consequences, asked respondents for their views on five topics researchers thought could affect social cohesion. These were race, religion, immigration, class, and lesbian, gay, transgender and bisexual issues.

South China Morning Post

And the SCMP goes on

 

Why PAP govt will use Huawel?

In China, Political governance, Public Administration on 19/11/2019 at 11:08 am

Despite the PAP govt trying to lick the ass of both Xi and Trump at the same time.

CSIS has a report on the “safe city” technology that Huawei is selling around the world. The facial recognition, licence plate recognition, social media monitoring and other surveillance capabilities it sells are generally being bought by authoritarian countries, raising the charge that Huawei is helping to “export authoritarianism”.

BBC story on surveillance systems that China is exporting often with the help of soft loans: https://www.bbc.com/news/business-50348861?intlink_from_url=https://www.bbc.com/news/technology&link_location=live-reporting-story

Related posts

Where US has to buy from China

Did Hali ask Xi for this app when they met?: Hali’s welcome by the Chinese reminded me that the Chinese have an app that will help Heng and other 4G leaders keep S’pore a one-party state, like China.

S’porean Chinese parents will want this

Cybersecurity: “Ownself hack ownself”

 

Yoma: Still not too late to join the ride

In Uncategorized on 19/11/2019 at 4:33 am

On Monday, the shares inched up to 40 cents. Ayala is buying a 20% stake at 46 cents. Still time to buy. Re: Yoma: Last chance to buy?

Serioualy looks like the penny stock fiasco of a few yrs ago have curbed the animal spirits of syndicates and punters. Re: Retail punters suffer ’cause SGX, MAS dysfunctional?

Criminal case against Soh Chee Wen etc continues.

Buying STI ETF is buying into HK

In Financial competency, Hong Kong, Indonesia on 18/11/2019 at 4:17 am

I’ve always told young people who want to invest in local shares to buy into one of the two STI ETFs if they believe that the PAP govt is doing a decent job and will continue doing a decent job, and if they believe that it will continue ruling S’pore. A coalition of the Spastics (Mad Dog, Lim Tean and Goh Meng Seng) will ruin S’pore.

But with the troubles in HK, I’ve had to modify that advice by telling them that because the STI Index has a heavy HK component, they have to think about HK’s problems and its long term future.

I tell them that around 13% of the STI Index (by mkt cap) is made up cos in the Jardines Group. Jardine and Matheson (and Sassoon) were the original narco drug barons. Jardines Group is still very HK-based: Dairy Farm, Jardine Matheson, and HK Land. All these cos are in STI, as is Jardine C&C*. See table for the HK exposures of the Jardines Group: SGX-listed stocks that have serious HK exposure. Note that Mandarin Htls is part of Jardines Group.

I’ll end with a link to the constructive, nation-building BT, defending the heavy presence of Jardines in STI Index: https://www.businesstimes.com.sg/companies-markets/are-there-risks-to-having-too-many-jardine-units-in-the-sti. Note a far cry from its snide remarks in 2010. See STI ETFs — Are there values there?.


*Jardine C&C is big in Indonesia: Impt of Indonesia to Jardine’s and other local listcos

 

Yoma: Last chance to buy?

In Uncategorized on 17/11/2019 at 2:44 pm

Still trading 15% below Ayala’s entry price.

Serge Pun, executive chairman of Yoma Strategic Holdings, bats aside suggestions that he is accepting investment from Ayala only because Western enthusiasm for Myanmar’s growth story has waned. “Asian investors are a lot smarter than Western investors,” says Pun at a media briefing on Nov 16.

On Nov 14, Ayala Corporation, Philippines’ oldest business conglomerate, announced it is investing up to US$237.5 million ($324 million) in exchange for a 20% stake in Singapore-listed Yoma Strategic, and Yangon-listed First Myanmar Investment Company.

Yoma Strategic shares surged as a result. It closed on Friday, Nov 15 at 39 cents, up more than 18% from the 33 cents before the deal was announced. At this level, the company is valued at $731 million. Yoma Strategic started this year at 35 cents. In 2013, at the peak of the Myanmar boom, the company was traded as high as 87 cents.

https://www.theedgesingapore.com/capital/company-news/asian-investors-are-smarter-says-yomas-pun

 

Small pool of footie players is no excuse for mediocrity

In Footie on 17/11/2019 at 5:12 am

FT has a story on Athletic Bilbao. It shows up FAS and S’pore: a small catchment area is not excuse for mediocrity.

Athletic Bilbao is a La Liga club. It only recruits players who born or raised in the Basque Country in Northern Spain. This region has a population of less then 3m. Athletic Bilbao is the only side in top-level European football (reached Europa League final in 2012). True it has not won a major trophy such as La Liga or Copa del Rey, the Spanish cup competition, since 1984, but they have remained a competitive force.

Hope ST can republish the FT story so that S’poreans realise that we can have a good football team if we really want to. I suspect we can’t be bothered.

Nice to have a good national team or good club team in region. Even nicer to KPKB and blame the PAP govt if we don’t.

Related post: FASgate: Governance issues.

Btw, although this happened (Bill Ng, wife, ex-FAS president and FAS gen sec arrested) in 2017, the cases remain in limbo. Not charged in court, but cases not dropped. Very long time to be in limbo. Was Billy Ng fixed because he dared oppose MP led team in FAS elections? What do you think? Btw2, I’m no fan of Bill Ng.

 

HK protests: Surreal moments

In Hong Kong on 16/11/2019 at 2:05 pm

Once-peaceful pro-democracy demonstrations are transforming into violent confrontations. Neither side is willing to back down.

In the darkness, there’s black comedy.

Professionals protest during their lunch-break, then return to work.

Every day this week bankers and professionals have taken to the streets during lunch-breaks, blocking traffic

Economist

But nearby

masked protesters nearby smash traffic lights and set fire to bins.

Economist

And so

“I’ve been tear gassed a few times, but never when I was outside my office – popping out to get my lunch,” says one trader at HSBC.

BBC

When things were a lot less violent, FT reported (a few months ago)

Many of the radicals are wealthy and highly educated. When they scatter to avoid police they often escape in luxury cars. Polling among protesters consistently shows that economic factors are less important to them than ideas.

And

The movement is also cool and deeply romantic for young people who believe they are fighting for the future of their city. Many young couples in full battle gear can be seen hand in hand on the barricades.

Power of compounding

In Financial competency, Financial planning on 16/11/2019 at 5:13 am

Actually in this case the power of reverse compounding.

Pocahontas (aka Ms Warren, a descendant of Marx, who has a bit of Cherokee blood and who got into trouble claiming to be an Injun) has proposed what her campaign calls an “ultra-millionaire” tax of 2% on assets above $50m, plus a 1% “billionaire surtax” on assets above $1bn.

Doesn’t sound much does it? FT has done some calculations. If US billionaires paid her weath tax since 1982, they’d be a lot poorer.

“Singapore water issue a legacy of Mahathir: Malaysian minister”

In Infrastructure, Malaysia, Media on 15/11/2019 at 5:24 am

Screamed an AsiaOne (part of the constructive, nation-building SPH and stable-mate of ST) headline

The unresolved issue of the price of water sold to Singapore was a legacy of Tun Dr Mahathir Mohamad, says Datuk Seri Dr Wee Ka Siong (BN-Ayer Hitam) (pic).

He said this as he reminded a Johor lawmaker, who raised the issue when debating Budget 2020 in Parliament yesterday.

[…]

Dr Wee [reminded] it was Dr Mahathir who decided not to raise the water tariff on the sale of water from Johor to Singapore.

“As far as I know, this was done in 1987 when YB Langkawi was the Prime Minister then*.

https://www.asiaone.com/malaysia/singapore-water-issue-legacy-mahathir-malaysian-minister?fbclid=IwAR3RWjrsGs3xHhScLJAiQMQhU3aqrorDDMprK0M-aBlDeUc40-wOECKbizU

Wow! Except that the said Dr Wee is not a Malaysian minister. He’s an ex-minister who was in Najib’s cabinet. Surely not the same.

Morphing an ex-minister from a Najib cabinet into a present-day minister in a Tun cabinet sounds like fake news from our constructive, nation-building media. But I doubt, it’ll get POFMAed by the PAP govt.

Btw, in What Tun and our alt media don’t tell us about the water supply from Johor, I wrote

So funny that in 1987 when he could taken action to have the agreement reviewed, he didn’t bother. Actually to be fair to him, it seems he wasn’t told that in 1987 there was a window for review . Secret Squirrel says that there’s a view in M’sia that someone was bribed. It was not some Bumi incompetence or carelessness.


*The exchange went on

“He decided not to raise the rates. So what are your views as the fourth Prime Minister is now the seventh Prime Minister?” Dr Wee asked.

In response, Santhara said things were different now as Dr Mahathir made the decision back then when he led the Barisan Nasional government.

“But now, he sits in a Pakatan Harapan Cabinet and is the Prime Minister and Pakatan chairman.

“The thinking now is to resolve the problem, ” he said.

Dr Wee then pointed out that the time to resolve the water agreement with Singapore has since passed.

 

HK: Int’l media coverage shows PAP got point on media?

In Hong Kong, Media on 14/11/2019 at 2:05 pm

Once-peaceful pro-democracy demonstrations have morphed into violent confrontations with neither side seems willing to back down. Int’l media puts the blamel largely on the HK authorities, especially the police.

Did you know that the Hongkie police are really very well behaved, restraint?

The Economist, no friend of the Honkie authorities and policesaid:

Hong Kong is a relatively modest user [of tear gas]. In the first five months of protests, its police fired nearly 6,000 rounds of tear-gas. Data are sketchy, but that seems a fairly modest figure—far fewer, for example, than were used on just one day in Paris last December against gilets jaunes (yellow-jacket) protesters.

https://www.economist.com/international/2019/11/12/banned-in-warfare-is-tear-gas-too-readily-used-to-control-crowds

Funny the ways of ang moh media. Very hard on gilets jaunes protesters. But very supportive of the Hongkie hooligans: HK: What MSM and alt media don’t tell us.

So maybe PAP got point on int’l media having their own agendas with objectivity being set aside if it doesn’t fit the agenda or narrative being peddled? Ang moh coverage of HK riots shows that the PAP govt has a point on its need to as its running dog, a constructive, nation-building media to help it fix the Oppo: Fixing the Oppo: Constructive, nation-building media and academics at work

Related articles

Why S’poreans don’t trust the constructive, nation-building media

TOC now part of constructive, nation-building media?

Every govt needs its own media outlets to tell its narrative? Cannot rely on ang moh media tell both sides of the story?

 

 

SGX-listed stocks that have serious HK exposure

In Financial competency, Hong Kong on 14/11/2019 at 4:04 am

DBS got almost 20% exposure (no surprise), while OCBC has only 9% exposure (surprise, tot more). UOB doesn’t even make the list (surprise, surprise). Surprise that that Wing Tai and iFast got that much HK exposure.

Fixing the Oppo: Constructive, nation-building media and academics at work

In Media on 13/11/2019 at 4:23 am

With the constructive, nation-building media and academics as enablers, no wonder the PAP can do what it likes.

Parliament recently passed a motion calling for WP’s Aljunied GRC MPs Auntie Sylvia Lim and Low Thia Khiang to recuse themselves from all financial responsibilities related to AHTC in the wake of a High Court judgement (Said Wankers have since appealed against the judgement), which ruled that the MPs had breached their fiduciary duties towards the town council.

But the resolution is not binding on the AHTC. So what’s the point?

[A] number of political watchers told TODAY that the motion effectively made it known to the public what Singapore expects of its parliamentarians, whichever political party they serve.
Read more at https://www.todayonline.com/singapore/whats-next-after-ahtc-motion-analysts-and-aljunied-grc-residents-give-their-take

Come on, this is a lot of BS.

the motion effectively made it known to the public what Singapore expects of its parliamentarians

It’s not S’pore, rather it’s what the PAP and their running dog dishonourable NMPs expect from the Wankers’ Party. But two NMPs were honourable and were pilloried in the constructive, nation-building media via the use of really unflattering photos. For a while I tot that one of them had a facial problem.

Can’t really blame our constructive, nation-building media as they have no shame (Think of people like Bertha Henson and Balji who becoming critics of the PAP govt once they are no longer in receipt of their thirty pieces of silver). But really S’porean academics should be more professional than journalists. Sadly, they have form in boot licking or worse.

BSing academics protected from fake news law?

Local academics propogate fake news?

EP’s powers: The silence of two legal academics

A gal I know is doing a “Philosophy Politics and Economics” like degree course in local uni. I laughed when I heard this and ask her “What’s the point?” Rubbed salt into her wounds, as her parents had planned to send her abroad because her average  school grades were just below border line into local unis. But in her final exams, she surpassed her average self. She was looking forward to study in Oz or UK. Doesn’t pay to be work too hard.

Why delivery riders prefer e-scooters

In Public Administration on 12/11/2019 at 4:34 am

Long before writing Cannot use e-bicycles meh? Now got PAP govt help, I’ve always wondered about the non-use of e-bikes for food delivery. I always tot it was about cost (Looking at  digital ads, e-bikes cost at least twice the price of the cheapest e-scooters) and because the use of e-scooters had (until recently) the advantage of being able to using footpaths. And the plebs must feel shiok, that they too can game the system, like millionaire ministers and other elite school kids.

Well I now know

Some food-delivery riders here who use electric scooters have voiced their safety concerns about plying the roads on bicycles or e-bikes, following the Government’s offer of grants for swopping their devices.

Read more at https://www.todayonline.com/singapore/delivery-riders-cite-safety-concerns-if-they-were-use-bicycles-work

So they are happy to bully other footpath users, while avoid being bullied by other road users. Sounds so S’porean.

I also learnt that some people always must complain:

Benjamin Goh has already changed to a bike for his food delivery job — but said his income would be affected as cycling is more exhausting, meaning he can complete fewer orders.

“It’s very tiring for me to use a bicycle,” said the 26-year-old single father, adding that he would also end up fatigued and potentially less capable of caring for his young son after work.

TOC

Die, die must KPKB. What about using an e-bike since ordinary bicycles are not very efficient food delivery vehicles

Ms Tan added that while she had tried to complete her deliveries with a bicycle over the last few days, it had been too tiring for her to reach the usual number of deliveries she used to make a day.

She used to fulfil 20 orders daily. Since the ban took effect on Tuesday, she has made a total of 30 deliveries over the past four days.

Read more at https://www.todayonline.com/singapore/delivery-riders-cite-safety-concerns-if-they-were-use-bicycles-work

There’s no excuse about the cost of e-bikes given the goodies on offer: Cannot use e-bicycles meh? Now got PAP govt help. 

But then Benjamin Goh must be a TOC reading cybernut.

I’ll end with this quai lan, garang guy. He must be a reader of TOC and other anti-PAP alt media

When asked what his next step would be, Mr Satria said: “For me, I’m going to continue fighting for the ‘unbanning’ of PMDs to be used on footpaths. As long as it takes, we (delivery riders) will continue to do so.”

Read more at https://www.todayonline.com/singapore/delivery-riders-cite-safety-concerns-if-they-were-use-bicycles-work

Wonder if he’ll get detained under ISA, lest he becomes another Jihadist. I hope he realises that the ang moh tua jee human right rights kah pohs are 110% behind the PAP govt on the use of ISA to detain suspected Jihadist Joes and Jills: Human rights kay pohs don’t do “fixers” and “jihadists”

New blood in SPP: 20 years too late

In Uncategorized on 11/11/2019 at 4:52 am

The Central Executive Committee (CEC) of the Singapore People’s Party (SPP) held its first meeting on Tue evening (5 Nov) … former Non-Constituency Member of Parliament (NCMP) Steve Chia was appointed as the party’s secretary-general … Jose Raymond [was appointed] the party’s chairman.

TOC

Phew. Tot that Mrs Chiam could be sec gen. Glad that regeneration has finally taken place. Sadly its 20 years too late. It should have taken place around 2000.

In 2015 before the GE I wrote of a tua kee FB poster who was a member of the Chiams’ Party

I hope the Chiams make him the communications director of their SPP. Not only will it be good for the Chiams**, it will show that they are walking the walk in their talk of renewing the party. Mr Chiam has been talking of new blood since the 1990s, but all that happens is that blood is sucked out from younger talents who join him: ask Wilfred and Desmond. Pwee was too smart to allow his blood to be sucked for free: he forced the renewal pretty soon after he joined up and left when it was clear that the Chiams were not changing: smart guy. But then he is a scholar.

Walk the talk, Chiams

The person in question was P Ravi and I went on

As the person in question has good new media credentials and was denounced by a minister in parly, the Chiams have no excuse in not giving him a chance to show what he do for the SPP and themselves. They can’t say that he is not proven talent, or is not “Political” or not brave. They can’t even say that he has yet to prove his loyalty: he has been a friend of the Chiams for several yrs, even defending them against my sniping about them refusing to walk the talk. He’s also my friend.

Walk the talk, Chiams

The Chiams ignored my advice, or to be more accurate never read it. Ravi juz before GE resigned from his job and stood in GE because Chiam wanted his best person to get thrashed in an SMC.

A few years later Ravi got a job with Chiam’s foundation.

Earlier this yr, Ravi joined TCB’s PSP. Don’t know if he is still working at Chiam’s foundation. I hear relations are cordial between him and Mr Chiam.

What I’ve written about the Chiams and their refusal to do renewal.

Time for the Chiams to step back?

Chiams: Please “go gentle into that good night”

This is what we should remember Chiam for

“The opposition used to be undesirable and unelectable, and Chiam has made it more acceptable to Singaporeans. He really revamped the whole opposition’s image and brought in credible candidates,” says Loke.

“His contribution surpasses JBJ’s, in terms of changing the opposition’s image.”

https://sg.news.yahoo.com/chiam-see-tong-changed-the-face-of-the-opposition-analyst-065549351.html

Btw, Secret Squirrel tells me that Loke is not liked by Mrs Chiam. With the a protector like her, Mr Chiam doesn’t need enemies.

Cannot use e-bicycles meh? Now got PAP govt help?

In Public Administration on 10/11/2019 at 9:29 am

Finally after  UK got this right, S’pore wrong, LTA: What a lot of bull and Another reason to ban e-scooters, e-scooters got banned from pavements (almost because got to wait until next year for offenders to be punished).

But the PAP govt extended a hand out to food delivery riders who used these e-scooters after they KPKBed about the PAP govt breaking their rice bowl or rather rice plate (from the pixs many are not Chinese):

Food delivery riders affected by a footpath ban on e-scooters can get up to S$1,000 in the form of a trade-in grant funded by the Government and food delivery companies, the Ministry of Transport (MOT) announced on Friday (Nov 8).

For riders who intend to stay on the job, the Government and three major food delivery companies – Grab, Deliveroo and Foodpanda – have set up a S$7 million e-scooter Trade-in Grant (eTG) for food delivery riders to switch to bicycles, power-assisted bicycles (PABs) or personal mobility aids (PMAs), the ministry said in a press release.

Under the scheme, the Land Transport Authority (LTA) will match dollar-for-dollar the funding support of food delivery companies for delivery riders who trade in their e-scooters for LTA-approved devices.

Each rider can receive up to S$1,000 to trade in their e-scooter for a PAB or S$600 for a bicycle, MOT said. Riders who are eligible to use PMAs will also receive a grant of up to S$1,000, the ministry added.

Read more at https://www.channelnewsasia.com/news/singapore/e-scooters-1000-trade-in-7-million-etg-food-delivery-riders-12076228

Following the ban of e-scooters from footpaths starting on 5 Nov, food delivery provider GrabFood had announced that customers could experience longer waiting time and cancelled orders due to this ban.

As you may be aware, the Singapore government will prohibit the riding of electric scooters (e-scooters) on all footpaths from 5 November 2019. This means that our delivery-partners who are currently using e-scooters to deliver your orders will need a longer time to do so as they are required to dismount and walk for a longer part of their journey.

Grab

Grab said that one in three of its delivery riders rely on e-scooters to send food around Singapore.

There are about 7,000 food delivery riders who uses e-scooters, and the majority of them are believed to be working for Grab, ST reported.

I had tot to myself: “Grab provide these delivery people with e-cycles”.

And there was Mr Wilson Seng, president of the PMD Retailers Association of Singapore, which represents about 20 firms, who sounds like a cybernut. he said

that the industry is shocked and “disappointed” by Monday’s announcement.

“How are you going to ask people to continue to use the devices for food delivery and stuff?”

https://www.todayonline.com/singapore/e-scooter-footpath-ban-pedestrians-cheer-move-users-say-black-sheep-have-won

Hey cock, we juz don’t want them to use e-scooters. (Re “How are you going to ask people to continue to use the devices for food delivery and stuff?”). There are e-cycles.

No that the PAP govt has stepped in, Grab and Wilson Seng have sat down and shut up. Why didn’t they think of e-bicycles first.

Vote wisely. Vote PAP?

 

 

S’pore: Bottom of class in Asean

In Economy, Indonesia, Malaysia, Vietnam on 09/11/2019 at 4:47 am

Don’t believe me? Look at this table where MNCs relocating from China are going to.

To be fair, S’pore’s a developed city-state while the rest of Asean are third-world countries: including M’sia.

Btw, table also shows that PeenoyLand and Indonesia are “shithole” countries as far as manufacturing investments are concerned. Infrastructure problems, poor governance and bad labour and other laws ensure that MNCs don’t relocate there despite cheap labour and in Peenoy’s case, the use of some kind of English.

Economics of buying cheap and cheerful stuff

In Financial competency, Financial planning on 08/11/2019 at 4:33 am

The late (and much missed) Sir Terry Pratchett , in his Discworld series, had a character by the name of Captain Samuel Vimes of the Ankh Morpork City Watch. He was penny wise, pound foolish.

He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.

But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that’d still be keeping his feet dry in ten years’ time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.

Of course one has to take care of the good quality boots.

How and why meritocracy morphs into a rigid caste system

In S'pore Inc, Uncategorized on 07/11/2019 at 4:41 am

A rigid caste system of winners and losers.

Further to Why S’poreans don’t trust the constructive, nation-building media, are we already like this?

In “The Meritocracy Trap”, Daniel Markovits, a legal scholar at Yale, blames the loss of social solidarity, and much else besides, on the slow corruption of American meritocracy, which has ossified into a formidable caste system. As the economic premium on education rose, he explains, competition for places at elite institutions of higher education grew. That struggle has become an obstacle to success for all but the cognitive elite. The gap in academic achievement between the children of rich and poor families is now larger than that between black and white pupils in the era of segregation, Mr Markovits notes.

https://www.economist.com/books-and-arts/2019/10/24/in-the-past-america-was-not-as-unequal-as-it-has-become

And like this also?

If Mr Markovits is right … Subtly but corrosively, he thinks, the idea of meritocracy has validated inequality, because rich and poor alike “earn” their position. Success depends on educational achievement beyond the reach of many, but winners feel they deserve their spoils, while losers are asked to accept their fate.

In Meritocratic hubris/ Who defines “meritocracy”, I wrote that Michael J Sandel who  teaches political philosophy at Harvard University said

merit is defined by those who “made it”.

I went on

The meritocratic elites define the attributes and qualifications that allows one into the magical citcle: in S’pore, the British or French civil service, Harvard or other leading universities, or investment banks. And it always means: People like us.

going onto describe

what Charles Trevelyan, the permanent secretary to the UK Treasury 1840-59, had in mind when he proposed that meritocracy should be introduced into the civil service.

“He wanted young people to be chosen who had merit – the very best,” says Greenaway. “But he believed that the best were to be found in the gentry, in the professional classes. As the 19th Century went on, the education system mirrored the social system. The universities in Oxford and Cambridge and public schools became the preserve of the gentry and the professional classes – clergy and lawyers and so on.”

Education locked in what used to be patronage, replacing it in a way that was acceptable to the conservatives who had been fearing that these exams would undermine the social fabric of the country.

http://www.bbc.com/news/magazine-23376561

S’pore: Meritocracy? What meritocracy?

My tots on how meritocracy, S’pore-style works:

Why PAP doesn’t do accountability, meritocracy

Meritocracy? What meritocracy? How our PMs are chosen

Connecting SMRT failures, 4th gen ministers & change of PM (Or “Another Heng cock-up”)

Why do we keep getting mediocre ministers?

Why cabinet can’t do bold new ideas

More on Hali’s judgement between 2007 -2011/ Meritocracy? What meritocracy?

Meritocracy? No leh Cosiness

Meritocracy’s feet of clay: Ong Ye Kung

Here’s something on Gilbert Goh who shows up meritocracy S’pore style

And here’s Real meritocracy at work. 

Can we have this Swiss “standard” please?

In Uncategorized on 06/11/2019 at 4:29 am

I tot of Goh Chok Tong’s aspiration for Swiss standard of living (We reached it but don’t realise it: Be careful of what you wish form you may just get it) when reading of the situation in Switzerland where home buyers are paid to borrow money

In a few cases in the Swiss cantons of Zug and Graubünden, local banks have offered negative-rate mortgages — borrowers are paid by the lenders to take money to fund their properties because doing so is cheaper than depositing the money with the [central bank]

FT

This Alice-in-Wonderland situation arises because the central bank has a negative interest rate policy. It considers this policy “essential” for the Swiss economy by. The policy is  aimed at curbing the appreciation of the franc and protecting exports. The benchmark rate, set at minus 0.75%, is the lowest of any central bank in the G10 economies. Demark also liddat: Bank pays u to borrow/ Govts borrow for free

Here’s a Swiss standard S’pore should introduce: controlling inconsiderate neighbours.

If you are anti-PAP, you should read

More CGT BS? Swiss Standard? What Swiss standard?

More CGT BS? Swiss Standard? What Swiss standard?

Swiss Standard? What Swiss standard?

Unlucky to lose one maid; to lose five or more is cattiness or bitchiness

In Uncategorized on 05/11/2019 at 4:20 am

After reading the u/m passage about three S’poreans’ experiences (spending thousands of dollars changing lots of maids in extra quick time ), I remembered an Oscar Wilde quote (“To lose one parent may be regarded as a misfortune; to lose both looks like carelessness.”) which in this case would read

To lose one maid may be regarded as a misfortune; to lose five, six or seven looks like carelessness.

Or as is more likely, losing so many shows bitchiness or cattiness at work.

Not only must these S’poreans be really bad employers but they are either in denial, or too thick to realise that they are slave drivers (Or maybe they think they are entitled to behave like PAP millionaire ministers?). What do you think?

[A] 31-year-old sales manager, who wanted to be known only as Ms Tan, said that she had encountered “all princesses” after her trusty Filipino maid of two years returned home when her contract ended in 2016.

The mother of three — who ended up changing seven maids within 1.5 years  — caught one helper on surveillance camera lying stretched out on her sofa and using her face mask while her family was away on holiday, even when she had been given tasks to complete.

Two other replacements were “tai-tais”, she said, including one who took taxis whenever she headed out.

A 43-year-old manager in a private equity firm, who declined to be named, similarly had to change six helpers between 2015 and 2018, after losing a long-time Indonesian helper who wanted to return home to take care of her mother.

“They are just here for play and fun, demanding a lot of things from the get-go,” said the mother of three. She said that she used about S$15,000 of her savings to transfer the maids out, before her former Indonesian helper agreed to return in August this year.

Ms Tay Mui Lan, 29, owner of a cafe in the East Coast area, said she had spent about S$10,000 over the past six months changing five maids — all of whom did not want to work for her household of five.

They came up with all kinds of “drama” after getting assigned to her family’s home, a four-storey terraced house in Serangoon.

One “purposely” did things that frustrated her, such as scratching her floor and car and cooking for two instead of four, as if to spite the family,  said Ms Tay.

Based on her observations, Ms Tay felt that the maids were “picky”, adding that her demands were not unreasonable — changing the bedsheets once every month, and ensuring that dirty laundry was not piling up. She added that she did not ask for all four floors to be cleaned daily.

“I don’t understand why I cannot get a helper (who sticks around). Maybe I am too nice,” she said.
Read more at https://www.todayonline.com/big-read/big-read-hiring-maids-no-longer-luxury-longstanding-issues-could-snowball-if-unchecked

Seriously reading the article makes me realise that the agents are breaking the law on the fees, maids are charged. My mum’s maid was charged six months fees (article says max is two months).

And agents don’t tell employers all the legal requirements. I didn’t realise that health insurance is a must. Any idea who to get insurance from for my mother’s maid? NTUC Income?

Btw, BBC says here cleaners can afford maids. How not to vote for the PAP?

 

 

Honkies behaving like spoiled brats adopted by ang mohs (Cont’d)

In China, Hong Kong on 04/11/2019 at 5:03 am

In Honkies behaving like spoiled brats adopted by ang mohs, then abandoned,I quoted an FT reader who wrote:

As someone aptly described to me, to BJ, Hong Kong is like a kid who was adopted by western parents when she was young and now rejoining the birth family. But then she doesn’t want to rejoin, she thinks she’s too good for them. She wants to go back to the adopted family, who has left. BJ sees all these in her eyes, and will promote the other kids. HK has fallen out of favour.

My friend Chris Kuan has a better description

Geezer got it wrong, Its more like one of those sob Chinese dramas from the old days. Child brought up by angmoh after being given up by parents. After grown up, parent demand child to be returned and child is kicking and screaming, wanting to remain with the person who brought him up.

What Chris left out is that ang moh told kid they had to return to their real parents albeit with promises from the real parents that the kid could be like ang moh for another 50 years.

Whatever Hongkie kid prefers ang mohs. And in 2018 Hongkies love PAP govt, diss their govt.

HK attracts better quality FTs.

Hongkie FTs more classy

Hongkie FTs more classy cont’d

S’pore, day after freak election?

In Humour, Internet, Political governance on 03/11/2019 at 4:32 am

The day after Dr Chee’s Coalition of the Spastics win the 2019 GE, will one Shanmugam will go tv and radio to explain why he ordered the closing of the internet?

Internet is very important, it has brought about technological convergence.

It eases communication and facilitates trade when we use it properly.

Internet is not water, internet is not air

However, if we use it as a revolution tool to incite others to kill and burn, it will be shut down not only for a week, but longer than that.

How Ethiopia’s  Prime Minister Abiy Ahmed justified the  government’s right to shut down the internet, saying it is done to save lives.

Related posts (Added minutes just after first publication:

Paper generals: Don’t forget social media

More on when there is a freak election result

Freak election result? No worries MM

“Freak election” training manual for SAF’s paper generals? And us 40% S’poreans too?

 

 

Problem that PAP doesn’t have even if curry puff prices etc have gone up by 7%

In China, Economy on 02/11/2019 at 6:33 am

Regular readers will know that l like to compare the PAP with the CCP: one is the ruling party in a de-facto one-party state, the other the ruler in a de-jure one party state. Examples: Keeping power in a one-party state and Why one-party rule sucks for Xi, Lee and Heng.

Well food inflation is not an issue here in the coming GE even if Old Chang Kee two weeks ago raised products by 10 cents across the board: roughly a 7% increase. My mum likes their curry puffs (now $1.60 each) while I like their various “balls”. Fortunately, I found another type of curry puff that my mum enjoys. Only $1 each but there may be an issue with consistent taste.

But food inflation is a problem in China. Data from China’s Ministry of Agriculture & Rural Affairs shows  the price of pork has risen 170% compared with the same time last year Chicken prices have increased 40% and beef 20%.

Why food inflation has gone thru the roof in China: Grandpa Xi’s biggest headache.

HKCon for HK? Imitating our NatCon?

In Hong Kong, Political governance, Public Administration on 01/11/2019 at 7:49 am

Remember our National Conversation? And remember how skeptical I was of NatCon?

Many (self included) think that NatCon is Wayang. But could it be even more cynical? Is NatCon’s aim  to distract us from the govt’s mismanagement of the economy. This unworthy tot struck me when I read DBS’ analysis of the S’pore economy last week.

NatCon: More cynical than Wayang?

“Dialogue in the Dark (DiD) is a social enterprise that aims to educate the public on the experience of blindness, ” writes MSF S’pore (Kee Chui Chan’s ministry)

Tot it should be appropriated as a description of NatCon.

NatCon: Dialogue in the Dark

The door-to-door survey of 4,000 Singaporeans was conducted by the Institute of Policy Studies (IPS) between November last year and February. It was carried out to validate the issues brought up in the 660 OSC sessions held over the past year …

[OSC committee Chairman and Education Minister Heng Swee Keat] noted that overall, the participants at the OSC sessions wanted the assurance that housing, healthcare and public transport will remain affordable.

Govt needed NatCon + survey to find these things out?

Norwegian PM Jens Stoltenberg spent an afternoon working incognito as a taxi driver in Oslo, he has revealed.

Mr Stoltenberg said he had wanted to hear from real Norwegian voters and that taxis were one of the few places where people shared their true views.

NatCon: PM should have tried driving a cab

Well a M’sian-born ethnic Indian living in HK (Seems he worked here too) wants to start a conversation that suspiciously sounds like NatCon the Hongkie way.

As for providing a platform for people to speak up, local businessman Chandran Nair, who runs independent think tank The Global Institute for Tomorrow, is touting his “Let’s Talk Hong Kong” project, which he hopes will provide a network of independent and neutral platforms “to bring the community together and find solutions”.

“Many are concerned about being involved in any way but I keep stressing that we are not taking sides and will be neutral,” he said, on the hunt for partners to raise funds and get started.

“Despite what people say, there is a positive path for Hong Kong after the protests. The first step on that path is dialogue: not just as a mechanism to narrow the political divide or share frustrations, but as a way to build real public understanding and trust across different social groups in the city.”

https://www.scmp.com/news/hong-kong/politics/article/3033770/there-silent-majority-hong-kong-yearning-speak-out

Let’s wish him luck.

Coming back to NatCon, the PAP govt will say its a great success. It won 70% of the popular vote in 2015. In 2011 it “won” only 60% of the popular vote.

China’s new opium and the Gweilo selling it

In China on 31/10/2019 at 9:38 am

China’s government is trying to tackle its obesity problem. More than a quarter of Chinese adults, or roughly 350m people, are overweight or obese. Among children, the proportion is one in five, up from just one in 20 in 1995.

From the Economist (Emphasis mine)

Most public-health initiatives—such as “Happy Ten Minutes”, a programme which encourages youngsters to exercise for ten minutes a day—emphasise the importance of physical activity but say little about diet. This may not be an accident. Some academics have pointed to the influence in Chinese public-health campaigns of research institutes financed by Western multinational food-and-drink firms such as Nestlé and Coca-Cola. Cutting out junk food would mean slimming down their sales. Instead, ever more Chinese are turning to bootcamps, liposuction and diet pills.

https://www.economist.com/graphic-detail/2019/10/28/china-worries-about-its-bulging-waistlines

HSBC: West not tua kee

In Banks, China, Hong Kong, India on 31/10/2019 at 4:29 am

In fact ang moh sui jee.

HSBC recently came up with a worse than expected set of results. Despite a US China trade war (HSBC is world’s largest trade financier and China’s the wotld’s workshop) and HK riots, its Asian businesses performed in line with analysts’ expectations.

Ang moh countries under-performed as usual but disappointed the already low expectations

HSBC’s cost-to-income ratio is 104% in Europe, compared with 43% in Asia, where it generates nearly 90% of its profits. The bank makes only a quarter of its lending in Britain, yet the country generates 35% of its non-performing loans … Its $98bn of risk-weighted assets allocated to America produce only $527m in annual profit.

https://www.economist.com/finance-and-economics/2019/10/28/as-profits-dwindle-hsbc-plans-a-radical-overhaul

Ang mohs are expensive, useless deadbeats. The only Asian country in HSBC’s empire like ang moh land is Ah Neh Land.

Related posts

HK: Why HSBC can still smile: Money withdrawn from mainland banks are deposited into Hang Seng Bank. Majority-owned by HSBC but has its own listing and distinct identity and brand. Google up images of its branches. More on Hang Seng Bank: HSBC, Superman and another Cina superhero.

Why HSBC is really Hongkong Bank

 

 

Forgot (ignored?) asset inflation?

In Economy, Media, Property on 30/10/2019 at 8:32 am

(Scroll down to read My Comments, if you are adverse to bullshit, from our constructive, nation-building media as they add spin to a MoF report .)

Singaporeans in their 40s better educated, earn more than past cohorts

Constructive, nation-building ST screamed

MediaCorp’s free BS sheet said

Younger Singaporeans in their 40s are more educated and better able to find jobs, they are earning and saving more, and they are on track to longer healthier lives than citizens between the ages of 50 and 79, a new report has found.

The report, released on Tuesday (Oct 22) by the Ministry of Finance (MOF), tracks how socio-economic outcomes have shifted across generations. The study tapped data from the Department of Statistics, and the Health and Manpower ministries.

The report, titled Key Socio-economic Outcomes Across Cohorts, studied a repertoire of socio-economic indicators: Educational attainment; employment and savings; residential-property ownership; health; and family support.

Younger Singaporeans fared better than those in the preceding generations across the majority of these indicators.

Read more at https://www.todayonline.com/singapore/younger-sporeans-better-able-find-jobs-earn-and-save-more-older-citizens-mof-report

My Comments

So what all this gushing to do with the price of eggs? Or rather with the standard of living when the price of assets go up a lot more than salaries?

Here are two examples.

When I started work in the late 70s, I my monthly salary was slightly more than $1000. If I had been married, we would not have been eligible for an HDB flat. If I were starting work today, my starting pay would be around $5,000. HDB’s eligiblity is now $15,000 a month (I think) for a married couple.

With $15,000 entry point the for “affordable” public housing, waz the point of faring “better than those in the preceding generations across the majority of “educational attainment; employment and savings; residential-property ownership; health; and family support”?

The rocketing costs of housing (public and private) have way exceeded the increases in salaries. A new HDB flat in the early 80s in Eunos was $30,000 or thereabouts. Now a BTO four room (actually smaller) could be between $300,000 and $500,000, depending on the locality. Have salaries increased like that? Only for PAP ministers.

And don’t get me started on car ownership. When I joined the workforce, the price of cars had just gone thru the roof (Remember COV?) but I could juz about own one on the never-never. My friend recently told me that his daughters, one a recently graduated doctor and the other an admin service officer (she’s a overseas merit scholar who graduated three yrs ago) can’t afford to own cars. They and their future husbands are saving for the deposit for HDB flats

Read Election goodies: proves the point that PAP needs to be spurred?, written before 2011 GE and remember to vote wisely.

Why S’poreans don’t trust the constructive, nation-building media

In Media on 29/10/2019 at 4:15 am

Constructive, nation-building is full of BS produced by BS artists. Here’s a recent example.

Constructive, nation-building CNA’s headline screamed

RGS staff confirmed ‘ordinary Singaporean’ quote, asked for it to be attributed to ‘spokesman’: TNP editor

Read more at https://www.channelnewsasia.com/news/singapore/tnp-editor-says-rgs-staff-confirmed-ordinary-singaporean-quote-12035906

Scroll to below the picture of the Nine Immortals, if you are not familiar with how the constructive, nation-building media tried to undermine S’pore’s meritocratic education system: details from the constructive, nation-building CNA, quoting the equally constructive, nation-building TNP. The latter got taken to the cleaners by ex-deputy prime minister for saying he was involved in a traffic accident when it was actually another Toh Chin Chye.

My question to the constructive, nation-building media is:

Why no check if the said person was entitled to call himself a “spokesman” before using the quote?

Surely a good reporter would check and a good editor would ask the reporter if the person was really a “spokesman”? Was the quote too good to be spoiled by the checks required by good reporting or good editorial practices?

And what about being fair to the member of staff? I mean how many teachers or teaching administrators know the meaning of “spokesman”? That the term in the article screams “official view of RGS that its students are not ordinary S’poreans”.

What this story does confirm is the view that our constructive, nation-building media is full of useful idiots helping the likes of Mad Dog Chee (product of ACS, place where other rich kids like PJ Thum also go to even if like Mad Dog they end up living in three-room HDB flats meant for the plebs) undermine our meritocratic school system, even if RGS is not really an elite school. There are only four elite schools: RI, MGS, SCGS and TKGS. The rest of the so-called elite schools are nothing more than glorified neighbourhood schools. But then “Every school is a good school” says the MoE minister even though the 9th Immortal disagreed.

SPH should be culling more people from its newsroom:  ST’s BS about WeWorks Cont’d. And MediaCorp should also do so.

———————————————

Details of TNP (and CNA) failure to think straight

The editor of The New Paper (TNP) Lim Han Ming said on Friday evening (Oct 25) that a controversial comment in an article about Raffles Girls’ School (RGS) moving away from Orchard Road was confirmed by a member of the school staff.

TNP had published a report on Tuesday titled Raffles Girls’ School Moves To New Home, which included a quote attributed to an RGS spokesman: “Moving away from the luxurious condominiums in Orchard Road will allow our girls to reach out more to the ordinary Singaporean.”

The comment drew widespread criticism.

Responding to queries from CNA, RGS had said earlier on Friday that the TNP report had “referenced an informal conversation with a staff member who was not the school’s spokesperson”.

The employee “had also not identified himself as such to the reporter”, RGS said.

The comments were “off-the-record” and had been “intended to convey that the move would allow students to engage more deeply with the local community, given the school’s proximity to the Braddell area”, RGS added.

“At no point of time did he say ‘ordinary Singaporean’,” it said.

Read more at https://www.channelnewsasia.com/news/singapore/tnp-editor-says-rgs-staff-confirmed-ordinary-singaporean-quote-12035906


Ang moh publications would have handled this differently from TNP . The FT or NYT would say that the quote came from someone not authorised to talk to the media. TNP that cock meh?

S’poreans love to talk cock and BS

In Uncategorized on 28/10/2019 at 10:52 am

According to the latest Black Box’s survey of S’poreans, cost of living increases are most likely to impact their vote: https://www.blackbox.com.sg/2019/10/18/ge20-whats-impacting-voting-intentions-2/?utm_source=yka&utm_medium=edm&utm_campaign=sep19.

If so, with GST rises coming up after GE, why is the PAP still expected to win at least 60% of the popular vote and have another super majority in parly?

In How PAP can win 65% plus of the vote, I pointed out that postponing the GST rise is the best to ensure a 65%+ share of the popular vote for the 4G leaders. But the 4G leaders think that the goodies doled out are sufficient for a 62% victory, if not more. (Btw, article lists most of the goodies)

Well this gives the Oppo a good chance to KPKB about the folly of increasing GST when the global and S’pore economy are weak, if not in recession (“Only cold spell coming, but not Winter,” says Heng). But will they do it? I have my doubts.

Where PAP is most vulnerable

Do read the BlackBox piece linked above for interesting insights into the cock S’poreans talk and their BS: including the experts at BlackBox. I can’t stop laughing at what the BlackBox experts said:

 At this point in time, about three in ten still say they are completely undecided as to who they will vote for which means a lot of votes are still up for grabs.

Whatever, no wonder Dr Chee, Lim Tean and other members of the , and cybernuts like TRE’s Oxygen are very happy. They think they’ll soon be millionaire ministers.

Related BlackBox article: https://www.blackbox.com.sg/2019/08/28/upcoming-general-election-what-are-the-key-issues/?utm_source=yka&utm_medium=edm&utm_campaign=jul19

Hoping for Perkatan Harapan type victory here?

In Malaysia on 28/10/2019 at 3:44 am

Then expect bad economic growth. Look at the chart below and realise that it was the economy that did it for Najib. It tanked badly during his last year

Btw, why rational S’poreans should be afraid, very afraid that a Coalition of the Spastics wins: My predictions about Spastics’ League, False Hopes: Coalition of the Spastics and Election manifesto of Spastics League?.

Learning to cope with mortgages and grief

In Uncategorized on 27/10/2019 at 4:15 am

Talking to friends’ kids and their friends and neighbourhood kids, learning about mortgages and dealing with grief is something that schools should teach

Schools should teach more life skills to avoid producing “A* robots with no knowledge of the real world”, the Welsh Youth Parliament has said.

Its first major review suggested life skills such as dealing with grief and arranging a mortgage should be part of children’s education.

It called for the new curriculum to be amended on the basis of its findings.

https://www.bbc.com/news/uk-wales-50126863?intlink_from_url=https://www.bbc.com/news/education&link_location=live-reporting-story

The problem is that in S’pore, there always be an examination to test whether kids know the “right answer”.

HOHOHO: Temasek invested in WeWorks’ flea ridden dog

In China, Media, Temasek on 26/10/2019 at 4:10 am

In July 2018, the FT reported that SoftBank, its Saudi-backed Vision Fund, private equity firms Trustbridge Partners and Hony Capital, and our very own Temasek invested in a WeWork subsidiary in China. It was valued at US$5bn.

A year before, after Softbank and Hony put $ into it, it was worth US$1bn.

Great investment that naturally TOC’s M’sian Indian goons never reported. To be fair neither did other alt media publications. I think our constructive, nation-building trumpeted this investment.

Now?

China has emerged as one of WeWork’s worst performing markets as a local operation once seen as critical to the office provider’s global growth suffers from ultra-low occupancy rates and is “bleeding cash”, said people with direct knowledge of the business.

FT

What “ultra-low occupancy rates” mean. FT reported: WeWork locations in October in

Shanghai had a vacancy rate of 35.7% in October,

Shenzhen 65.3% (in Hong Kong only 22.1%  vacant) and

Xi’an, had a vacancy rate of 78.5%.

As reported in ST’s BS about WeWorks Cont’d, WeWorks is exiting China.

Wonder if our constructive, nation-building media will report this fiasco? It trumpeted its success last year.

TikTok data stored here

In China on 25/10/2019 at 3:00 pm

TikTok said all US user data is stored in the United States, with a backup in Singapore

BBC report

Beijing-based Bytedance owns TikTok, a video-sharing app popular in the US. TikTok says it “does not remove content” based on Chinese sensitivities.

This follows concerns raised by US lawmakers over whether Beijing censors content on the app and data collection.

Eat your heart out Indian supremacists

In Uncategorized on 25/10/2019 at 5:05 am

Andrew Yang is ahead of Kamala Harris (She got mama blood) in her home state of California.

 

Black Panther’s homeland shows the way for equitable telco data plans

In Telecoms on 24/10/2019 at 1:01 pm

Sounds like a great idea for infrequent or not so frequent users of data but who want it on tap when wi-fi is not available. Mad Dog should include it in Election manifesto of Spastics League?


More on Spastics’ League

My predictions about Spastics’ League

False Hopes: Coalition of the Spastics

——————————————————————————————–

Seriously, it’s a good idea. But then this is Pay and Pay Land.

In February, South Africa’s Independent Communications Authority started enforcing new data expiry rules that allow subscribers to roll over unused data. Operators are also barred from charging out-of-bundle rates for data when it is depleted.

A few days ago, the Ghanaian government directed phones operators in the country to scrap expiry terms on data bundles bought by subscribers.

Now, the BBC reports

A Kenyan lawyer has sued the country’s three biggest mobile phone operators over the expiry of unused data bundles, the Daily Nation newspaper reports.

Lawyer Adrian Kamotho has filed the petition at the Communications and Multimedia Appeals Tribunal.

He wants the tribunal to order the three telecom firms – Safaricom, Airtel and Telkom Kenya – to allow their subscribers to extend the expiry of unused data at no costs, the newspaper reports.

“Data bundles should not have an expiry date until used up‚ as long as the SIM card is active and the consumer keeps recharging,” his petition is quoted.

Mr Kamotho also wants operators to enable consumers to transfer unused data to other users on the same network.

 

ST’s BS about WeWorks Cont’d

In Media, Property on 24/10/2019 at 5:39 am

In ST’s BS about WeWorks, recently, I grumbled about ST’s gushing coverage of WeWorks expanding in S’pore while it was facing financial meltdown.

Looks like it’ll close shop here after Softbank’s bail-out:

WeWork is also looking to prioritise three markets — the US, Europe and Japan — and will pull back from other regions including China, India and much of Latin America. It has already begun looking at building closures in parts of its portfolio including in China and other regions.

FT

Morocco Mole (Secret Squirrel’s sidekick), tells me that his cousin, twice removed, working in a leading real estate broker, tells me the landlords that leased space to WeWorks are drowning their sorrows in beer, bracing themselves for terminations. Damages are meaningless because there’s no money to pay them: non recourse to WeWorks.

Time to cut down its newsroom further, SPH?

What riots can achieve

In Uncategorized on 23/10/2019 at 6:34 pm

Chilean President Sebastián Piñera announced reforms aimed at ending days of violent protests sparked by a rise in metro prices. The protests grew into something bigger as thousands took to the streets over austerity and inequality.

He planned to increase the basic pension by 20%, increase the minimum wage and introduce a new higher tax bracket. Electricity rates will also be cut under the reform plan. He also proposed a law that would see the state cover the costs of expensive medical treatments.

Mr Piñera said he had received a clear message from Chileans, saying he hoped to turn recent violent protests into an “opportunity” for Chile “to make up for lost time, pick up the pace and take concrete and urgent steps”.

(The following was added on 24 October at 9.30am)

Related posts:

Stop being fascinated with HK riots, look closer home

Indonesian riots prove minister’s point on zero tolerance of racist remarks?

 

Greta Thunberg: Juz another entitled ang moh kid talking cock

In Uncategorized on 23/10/2019 at 5:42 am

Greta Thunberg, the puppet of Woke progressives says that on a finite planet unlimited economic growth is a fairy tale. Juz like that condemn poor Asian kids to servitude to ang mohs isit?

This what a “Climate change is real and a clear and present danger,” conservative adult says:

Is unlimited economic growth a fairy tale?

Mark Carney is asked whether he agrees with Greta Thunberg that on a finite planet unlimited economic growth is a fairy tale.

He says: “I’m afraid I do not agree with that… There is carbon-light growth, there is asset-light growth. If you think about the nature of much of consumption, how it’s shifted over time… towards experiences including virtual entertainment – that’s also growth.”

“So I don’t think they’re exclusive.”

However, he says the market is “pricing the transition” away from carbon as being at least 3.75 degrees, “probably north of 4” degrees in terms of global warming.

“That tells you something in terms of the sum of global climate policy,” Mr Carney says, with the implication being that it is not moving fast enough.

BBC

Why Greta will soon be history

Almost 50 years before Extinction Rebellion, a British-born protest movement, exported its brand of climate activism to the world, young Americans did so on Earth Day, April 22nd 1970. The youth then was more bell-bottomed than nowadays but felt no less “bamboozled and cheated” (as The Economist put it at the time) that their elders were bequeathing them a wrecked planet.Economist

HK: Why HSBC can still smile

In Banks, Hong Kong on 22/10/2019 at 5:05 pm

In Why HSBC is really Hongkong Bank

I wrote

I’m very surprised that BoC is a distant second in terms of deposits. I tot the gap was much narrower. And this was in 2018. I’m sure BoC lost a lot of deposits.

Well since then, there have been reports that BoC branches have been targeted by the rioters, as have the branches of other mainland controlled banks.

Sure HSBC is suffering because HK is its biggest and most profitable market

But the attacks and withdrawals from the Chinese banks must bring a smile to the quai lows at Hongkong Bank.

 

 

Honkies behaving like spoiled brats adopted by ang mohs, then abandoned

In China, Hong Kong on 22/10/2019 at 5:45 am

(I hope FT doesn’t sue me for this copy and paste.)

This is a thread in an FT article on HK. Doesn’t Passeby’s first two paragraphs remind you of the typical S’porean response to the unrest in HK?

Passerby
I wish the parents of the teenager rioters lose their job and have to tell their rioter children they can no longer afford school and data plan and food for them. And these spoiled brats have to actually go out and live life and earn money. Yeh, maybe then they would appreciate a little more having stability in the society and the economic benefits the motherland China provides.

But then it would be too late, as this is not some kind of game. Macau is setting up their stock exchange. Shenzhen is taking over HK. Hong Kong will forever have lost its lustre.

As someone aptly described to me, to BJ, Hong Kong is like a kid who was adopted by western parents when she was young and now rejoining the birth family. But then she doesn’t want to rejoin, she thinks she’s too good for them. She wants to go back to the adopted family, who has left. BJ sees all these in her eyes, and will promote the other kids. HK has fallen out of favour.

The cost of these few months is immeasurable, and irrecoverable.

Hong Kong burns, and no one else burns with Hong Kong.

The responses were pretty good too

concerned n america
Maybe the HK kid sees the Muslim Uigher kid Getting their organs harvested and clearly doesn’t want to rejoin the evil family.

Aloha
@Passerby

Deep in the psyche of every Wumao is this shame that they have to justify and defend the death of hundreds of unarmed college students in Tiananmen in 1989 with jobs and economic growth. That if the Chinese Communist Party has not shot those protestors, their lives would somehow be worse off. That is the argument they have to repeat to themselves and to others.

South Korea had also had its ‘Tiananmen’ and people also died. But South Korea have confronted the past and is able to talk about it. Consider that South Korea is a country smaller than some Chinese provinces and what it has achieved economically. It’s a lie that the Chinese communist party wants people to buy in: that only the Chinese communist party can provide stability and economic growth.

Also no more Hong Kong means no more Chinese communist party members able to hid their ill gotten money off shore from mainland China.

Related posts:

Stop being fascinated with HK riots, look closer home

Financial aspects of protests

Attempt to bring down HK’s financial system fails: yet again

Why HSBC is really Hongkong Bank

China says it needs HK as a financial centre

What Tun and our alt media don’t tell us about the water supply from Johor

In Infrastructure, Malaysia on 21/10/2019 at 4:51 am

I’m sure you know:

Under the 1962 Water Agreement, Singapore can draw up to 250 million gallons of water a day from the Johor River, and Singapore is obliged to provide Johor with treated water up to 2% of the water we import. The 1962 Water Agreement will expire in 2061.

PUB

And that we pay 3 sen per 1,000 gallons and are required to supply Johor with 5 mgd of treated water at cost under the agreement.

And that Tun keeps KPKBing that it’s an unfair agreement that he says must be changed.

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So funny that in 1987 when he could taken action to have the agreement reviewed, he didn’t bother. Actually to be fair to him, it seems he wasn’t told that in 1987 there was a window for review . Secret Squirrel says that there’s a view in M’sia that someone was bribed. It was not some Bumi incompetence or carelessness.

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But did you know an area about a third the size of Singapore (21,600 ha) is leased from Johor?

Constructed by PUB under a 1990 agreement with Johor supplementary to the 1962 Water Agreement, the Linggiu Reservoir is located upstream of the Johor River Waterworks and releases water into the Johor River to supplement its flow. This enables reliable abstraction of raw water at the Johor River Waterworks which is owned and operated by PUB for treatment.

https://www.pub.gov.sg/watersupply/fournationaltaps/importedwater

PUB

built the Linggiu Reservoir at a cost of more than S$300 million to enable reliable abstraction of water at PUB’s Johor River Waterworks (JRWW).

PUB (This sentence added on 22 October 2019 at 4.55am)

We paid Johor RM320 million (S$208 million at 1990 rates) for the potential loss of revenue from logging activities, and as a one-time payment for the lease of that land for the land up to 2061. We pay annual land taxes: but this is “peanuts”.

Do you know that despite leasing the land and using it as a catchment area, Malaysia, can, built water plants upstream of the JRWW?

These

have further added to the abstraction of water from the Johor River.

PUB. See Water: M’sia takes us to the cleaners

Also, did you know we have been supplying more than 16 mgd of treated water to Johor at the state’s request? Only obliged to supply 5 mgd.

PUB revealed that from Sept 23 to Sept 27, it has been supplying an additional 6 mgd of treated water, on top of the 16 mgd that it already supplies. This is upon Johor’s request, as the state had seen a disruption in production at its water plant in Skudai, PUB said.

Water: M’sia takes us to the cleaners

 

 

 

M’sian stocks: eagles and dogs

In Financial competency, Malaysia on 20/10/2019 at 10:20 am

Interesting tables from https://www.theedgesingapore.com/capital/tongs-portfolio/good-bad-and-ugly-our-malaysian-portfolio-reaches-its-fifth-anniversary

From the late 80s until the late 90s, I used to specialise in M’sian equities. These stocks are Mandarin to me. LOL.

 

Two cities, two systems

In China, Hong Kong on 19/10/2019 at 5:45 am

Singapore and Hong Kong have long offered rival political models. Singapore, put crudely, is an illiberal democracy; Hong Kong a liberal autocracy. One has a freely elected government but strict laws limiting, for example, public protest and some political debate. The other has a chief executive “elected” by a few hundred officials, a partially elected and weak legislature, but robust traditions of freedom of speech and assembly. Singapore has been pointing, discreetly, to its relative stability. On October 4th the foreign ministry advised Singaporeans to “defer non-essential travel” to Hong Kong.

https://www.economist.com/asia/2019/10/10/singapore-stands-to-gain-from-hong-kongs-troubles?fbclid=IwAR0v8guoxejGop67vdUO8Q7I5h_tqQfl6GU-R-sbIf0ysKxJJMJDGPBjQUs

HK still top dog vis-a-vis S’pore: China says it needs HK as a financial centre

Got this  right: HK: Who Beijing really blames for the protests and riots

Got this wrong: but HK’s CEO has announced that govt will seize back unbuilt land from tycoons to build public housing. This was a no-no since colonial days.

HK: Trumpets pls/ Next prediction

SAF can really detect and neutralise drones?

In Malaysia on 18/10/2019 at 5:17 am

After the attack on Saudi oil installations, in what seems to be warning to Tun not to try anything funny (Morocco Mole, Secret Squirrel’s side kick tells me that his second cousin removed working in Tun’s office tells him that arms dealers have promised him Iranian drones that hit the Saudi installations.)

Singapore ‘quite confident’ of detecting and neutralising drones used in Saudi attacks: Ng Eng Hen

Headline from constructive, nation-building CNA

Read more at https://www.channelnewsasia.com/news/singapore/singapore-confident-detect-neutralise-drones-saudi-arabia-uav-11976108

Is he talking cock?

Because remember the drone intrusion at Chamgi Int’l? Why isn’t Changi Int’l not protected against drone intrusions?/ Paper weapons?

and

But let’s be serious

But it would be a mistake to confuse the use of drones or UAVs (unmanned aerial vehicles) in this attack with other incidents where off-the-shelf drones have disrupted airports, football matches or political rallies, says Douglas Barrie, an air power fellow at think tank the International Institute for Strategic Studies.

He says this attack was carried out, in part, by sophisticated UAVs – small, pilotless, winged aircraft – nothing like the quadcopter drones flown in suburban parks.

Instead, they can cover hundreds of kilometres and be pre-programmed to fly around navigation points on the ground, allowing them to approach a target from an unexpected direction.

“The level of complexity in this attack is above anything we’ve seen before. Using a mix of cruise missiles and unmanned air vehicles (UAVs) that arrived all at the same time calls for a serious level of planning and proficiency,” says Mr Barrie.

The attack has raised a question-mark over the quality of the protection available against UAV assaults.

Criticism of Saudi Arabian air defences is wide of the mark, says Mr Barrie. The fact is that complex networks of air defence radars linked to guided missiles and squadrons of advanced fighter jets are not designed to counter this relatively cheap and disposable technology.

“Digital technology has made a huge difference to what smaller UAVs can do. Suddenly you can pack a lot into a UAV, you can almost turn it into a precision guided weapon.”

By programming a UAV to fly around numerous points before arriving at its target it can avoid the obvious directions from which an attack is expected. This may explain why existing radars failed to spot the drone formation which attacked Abqaiq.

Which is why this got rushed into the area

The US Air Force has just taken delivery of Phaser, a microwave-based weapon from defence giant Raytheon. Firing from a disc resembling a giant satellite dish atop a sand-coloured container it wipes out the digital elements inside a drone.

Raytheon cannot say where the rapidly purchased Phaser has been sent, but the Pentagon has stated that it is being deployed overseas.

Perhaps Phaser’s biggest strength is it operates at the speed of light. That is the rate at which it fires out bursts of microwave radiation. And that can bring an approaching UAV down in a split second.

The beam emitted by Phaser is 100 metres broad at a distance of one kilometre. That translates into a lot of dangerous space for an attacking UAV. Targets are tracked by an electro-optical sensor converting images into electronic signals and working in tandem with the microwave beam.

https://www.bbc.com/news/business-49984415?intlink_from_url=https://www.bbc.com/news/technology&link_location=live-reporting-story

Grandpa Xi’s biggest headache

In China, Commodities on 17/10/2019 at 5:23 am

No it’s not the quai lan Hongkies. or Mad Dog Chee’s cousin Trump. He has a much bigger problem which means he can’t focus on HK or US China political and trade relations.

The price of pork, the most popular meat in China, jumped by 69.3% compared with September last year. The rapid rise in pork prices means that China’s consumer price index is up by 3% year on year in September, the largest increase since November 2013. The rise in pork prices contributes nearly half a percentage point to headline inflation.

The outbreak of African swine fever has cut China’s pig population by 39% and led to led to rationing and price controls in at least one Chinese city.

The govt has started releasing frozen pork from its reserves, starting with 10,000 tonnes. There are subsidies for new pig farms and plans to breed bigger pigs. (Btw, frozen pork is tenderer than chilled pork according to a S’pore study reported by our constructive, nation-building CNA)

Meanwhile, pork related stocks are cheong.

Alfian is no knight in shining armour fighting the PAP dragon

In Uncategorized on 16/10/2019 at 4:32 am

Or for truth and justice. He’s more like an identity-challenged knight in rusty armour rowing with his enemies (think PAP govt) and his inner demons.

I’m not defending what the PAP minister said about Alfian (Because unlike the constructive, nation-building media I’ve not been paid my 30 pieces of silver, and unlike the PAP IB, I don’t work for free.), but I hope his critics had read some of Alfian’s stuff that the anti-PAP Woke don’t publicise, when criticising the minister. Anti-PAP cybernuts are a different breed of low life: “PAP is always wrong.”

I speak as someone who read some of his stuff years ago. In the poems I read, I sensed his unhappiness about living in a Chinese dominated multi-racial society. He was really not happy that his race was not top dog, like in KL, and he was not getting the goodies like M’sian Malays that he felt he was entitled to. He wanted to live in a multi-racial society where the Malays dominated. I must stress that this is only my reading.

A lawyer and PAP member (who yet again hasn’t been selected to be an MP) seems to share my view, though he put it more menacingly

I find Alfian’s actions anti Singapore. The combination of his poem and his pro Malaysia sentiments reflect a longing for a situation where his race is not the minority.

He is not a critic. He does not feel he belongs in Singapore.

Ong should add to his statement by using this PAPpy’s turn of phrase. Silly of Ong not to have said this in first place. But then GE coming and he doesn’t want to offend the Malay voters, who are not exactly fans of the PAP govt. Neither does he want Tun to take offence.

Oh, and do realise that Alfian is biting the hand that protects him.

He will have problems if he is a Malay living in M’sia: his preferred country. He’s a self-proclaimed gay, atheist Muslim. That is haram in M’sia and other Muslim countries. In Saudi Arabia he could be executed. In S’pore, minister Shan rightly says that LGBTQs will be protected, like other S’poreans

And remember what happened to Anwar? The authorities tried to destroy his career by portraying him as a homosexual because being gay is haram in Islam.

Doubtless if he was M’sian, he’d be spurning the privileges of being a Malay, and bemoaning that he couldn’t reveal his inner self. He’d be writing about hidden identities, like Oscar Wilde. Or maybe, he’ll be looking at his bank statement and smile.

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“Malay race” created by ang mohs, not the Malays

Academic talking cock/ Got such thing as “Malay” race meh?

Watain fans: Muslims cannot be, but can Malays be ?

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I’ll end by saying that the the minister roughed up Alfian for wrong reasons, doing no good for his reputation: https://sudhirtv.com/2019/10/14/the-day-singapores-education-minister-lost-some-credibility/?fbclid=IwAR2fHLaLLKIAUmC_BPqWaj6V6VyNOkFd_qGKk3Z1qTQ2sl0TxPiJL0Dxns4.

But I never had a high opinion of him: Ong Ye Kung: “Is he the 4G leader with the killer instinct?”