Archive for 2023|Yearly archive page

Our public transport: almost Swiss standard

In Infrastructure on 30/03/2023 at 3:57 am

Vote wisely.


Bitcoin’s no hedge

In Cryptocurrency on 28/03/2023 at 6:16 am

Will another European bank need to be rescued this coming Friday?

In Banks on 27/03/2023 at 5:02 am

Deutsche Bank had a bad week. Friday was particularly bad.

Gold’s doing well too

In Banks, Gold on 26/03/2023 at 3:47 am

Gold hits 12 months’ high.

Bitcoin up 70% as banks fail

In Banks, Cryptocurrency on 25/03/2023 at 3:41 pm

Bitcoin’s price has appreciated by over 35% since Silicon Valley Bank collapsed on March 10, while the Nasdaq Composite Index has traded up less than 5% over the same period. Bitcoin’s price is up nearly 70% in 2023.

Paper investors/ traders

In Financial competency on 22/03/2023 at 8:28 am

I’m sitting this one out. Was catching falling knives in 2020.

Accepted Boustead Projects takeover (daylight robbery) because I’d rather have the cash than own illiquid shares in a construction co in a tightening economy: Boustead Projects: NAV is a lot of BS Cont’d

Might even get chance to buy Boustead S’pore at bargain basement price (below 70cens) later this year. Poetic justice for screwing me.

Cognitive Dissonance

In Energy, Financial competency on 20/03/2023 at 8:35 am

SGX-listc, Rex International Holdings, an oil and gas exploration company leads the FT’s 2023ranking of 500 high-growth Asia-Pacific companies with an impressive 630.17 per cent compound annual growth in revenue over the three years to 2022, Energy prices helped

But it’s a stock market dog over the last three years. LOl

Credit Suisse: It’s at 11

In Banks on 19/03/2023 at 3:51 am

The above reminds of a conversation about guitar amps:

Marty DiBergi : Why don’t you just make ten louder and make ten be the top number and make that a little louder? Nigel Tufnel : [pause] These go to eleven.

This is Spinal Tab

Remember Bitcoin?

In Cryptocurrency on 18/03/2023 at 4:39 pm

Hello darkness, my old friend 

US is LNG King

In Energy on 17/03/2023 at 9:35 am

Thanks to Putin.

British is best in class, even better than Swiss

In Banks on 16/03/2023 at 11:59 am

Even the Italians are less dodgy than the Swiss, French and Germans.

Investors sell-off European bank stocks

Time for the Saudis, Russia and and the Americans to cooperate

In Energy on 16/03/2023 at 7:00 am

Oil prices are tanking

Why the US had to rain on Michelle Yeoh’s parade

In Financial competency on 15/03/2023 at 3:52 am

It’s not because the mamas asked the US to spoil the East Asians’ triumph but because

Can’t help feeling sorry for Michelle Yeoh

In Uncategorized on 14/03/2023 at 6:35 am

She puts the mamas in their place by being the first ethnic Asian to win the best actress award. And her team adds insult to injury bt making sure that it’s an all East Asian sweep.

And what happens?

The Fed and allies saves the world on the same day.

Btw, my friend was her school mate in the Ipoh convent school. Could have even been in the same class.

How to stop worrying whether we in bull or bear market

In Financial competency, Financial planning on 05/03/2023 at 6:20 am

[T]hink of sectors you’d want to be invested in whether markets turn bearish or bullish”.

FT’s Adventurous Investor aka David Stevenson

Now this is the really difficult part. He advised investing in the healthcare.

Anything else?

Here comes the Sun

In Energy on 04/03/2023 at 2:10 pm

Almighty dollar

In Financial competency on 03/03/2023 at 4:01 pm

“Our dollar, your problem,” a US Treasury Secretary said in the 1970s. Obviously the world is happy to have the $ as a problem.

HK/ S’pore: A Tale of Two Cities in charts

In Economy, Hong Kong, S'pore Inc on 02/03/2023 at 6:11 am

War? What war?

In Commodities, Energy on 01/03/2023 at 3:45 am

Gas (and oil) and grain prices back to pre “Special Military Operation” levels.

But not interest rates

2022 was a terrible year for bonds

In Financial competency, Financial planning on 28/02/2023 at 1:02 pm

Further to Bonds in 2023: a roller coaster ride, more on why I’m an equities person.

Bonds in 2023: a roller coaster ride

In Financial competency on 27/02/2023 at 4:38 am

Where young S’poreans and Japanese think alike

In Uncategorized on 26/02/2023 at 9:39 am

Singapore’s total fertility rate hit a historic low of 1.05 in 2022, down from 1.12 in 2021

Constructive, nation-building media

And both govts have the same answer, offer more money. But money not enough. Literally because the $ on offer are “peanuts”. And there are other non-monetary reasons.

Boustead Projects: NAV is a lot of BS Cont’d

In Financial competency on 25/02/2023 at 3:36 pm

I’ve KPKBed a lot about about the reported NAV of listcos: Hyflux fiasco shows why “book value” is BS and Reported NAV is a lot of BS.

There’s an unconditional and final takeover offer from Boustead S’pore (majority shareholder) at 95 cents Takeover was originally at 90 cents.

Boustead Spore chairman and group chief executive Wong Fong Fui has a deemed interest of 74.2 per cent in Boustead Projects, as he also controls 43.1 per cent of BS. He is also deemed interested in a 19.3 per cent stake of BS held through nominees.

He is acting in concert with BS to take Boustead Projects private. The offer does not extend to his 19.3 per cent stake.

I bot Boustead Projects in the market collapse of March 2020. The throw of the dice paid off because it paid a special dividend of 14.5 cents in 2021 following a much anticipated restructuring that BS and other shareholders thought would unlock value. The share price flew from about 89 cents to 1,38 after the announcement but collapsed to below $1 after the dividend was paid out.

In 2022 the price was between 80- 89 cents. As at Sept 30 2022, the company, had a net asset value of $1.265.

CGS-CIMB analyst Ong Khang Chuen, in his Feb 7 note, gives Boustead Projects a revalued NAV of $1.79 per share,

The restructuring did not result in a rerating of the company. Hence the takeover offer.

I’ll sit tight for the time being. The free float will shrivel even if the BS fails to delist the co.

Watch and wait to see the level of acceptances.

MNCs creating new Co-prosperity Sphere

In China, India, Indonesia, Japan, Vietnam on 24/02/2023 at 4:25 pm

As workers earn more in China (Chinese labour costs escalate and the US of A tries to contain China, MNCs are creating new supply chains that by-pass China.

No single country offers China’s vast manufacturing base. Yet taken together, a patchwork of economies across Asia presents a formidable alternative. It stretches in a crescent from Hokkaido, in northern Japan, through South Korea, Taiwan, the Philippines, Indonesia, Singapore, Malaysia, Thailand, Vietnam, Cambodia and Bangladesh, all the way to Gujarat, in north-western India. Its members have distinct strengths, from Japan’s high skills and deep pockets to India’s low wages. On paper, this is an opportunity for a useful division of labour, with some countries making sophisticated components and others assembling them into finished gadgets.

HK v S’pore

In Uncategorized on 23/02/2023 at 4:16 am

This year HK residents will each get HK$5,000 (US$637) in vouchers. Last year they got HK$10,000.

Very generous compared to the crumbs our millionaire ministers throw our way. Maximum a S’porean (elderly and very poor) can get is S$750 (US$560)

From an MoF press release

Community Development Council (CDC) Vouchers, GSTV – Cash (Seniors’ Bonus) and Assurance Package MediSave

6       On top of the GSTV – U-Save and S&CC rebates in January 2023, eligible Singaporeans will receive the following benefits in the upcoming months of January and February 2023.

  1. On 3 January 2023, every Singaporean household will receive a total of $300 CDC Vouchers. This comprises $200 CDC Vouchers under the AP and $100 CDC Vouchers from the $1.5 billion Support Package announced in October 2022. The CDC Vouchers can be used at participating heartland merchants and hawkers, and supermarkets. More details will be announced by the CDCs soon. 
  2. In February 2023, lower-income senior Singaporeans aged 55 years and above will receive up to $300 cash, under the GSTV – Cash (Seniors’ Bonus).
  3. In February 2023, eligible senior Singaporeans aged 55 years and above, and Singaporean children aged 20 years and below will receive $150 in their CPF MediSave Account under the AP MediSave.

Chinese labour costs escalate

In China, India, Malaysia, Vietnam on 22/02/2023 at 12:55 pm

making Indian and Asean costs look attractive.

Rising property prices NOT sign of our virality

In Economy, Property on 21/02/2023 at 5:24 am

Our local PMETs suffer because our PAP millionaire ministers wanted to lower wage costs because they wanted to grow the economy. Rising wage costs is seen as a problem. Hence the flood of FTs.

Maybe they should have have lowered property prices?

There is recent research that

attributes many long-standing economic ills to land. It explores how high and rising land prices affect lending, investment and ultimately productivity, and much of it looks closely at China’s long property boom. The worrying conclusion is that high and rising property prices can also have damaging economic effects, by crowding out productive investment and leading to a misallocation of capital. In the most extreme cases, inflated land prices may already be the cause of a protracted slowdown in productivity growth.

Why millionaire PAP ministers should focus on rent costs

In Financial competency, Financial planning, Public Administration on 20/02/2023 at 4:28 am

Came across an interesting discussion on the monetary effects of having to wait six years for a BTO flat.

In my case, rented a HDB flat from a condo-residing church friend while waiting for BTO. Kid was born in my friend’s flat. All in all, I invested $80,000 in rent all those years, would have been more if he didn’t offer a friendship price. Even if I were to sell my BTO, I’d make $120,000 more and minus the rent and housing loan interest, I don’t actually earn.

FB discussion

He’s saying, “Asset appreciation? What asset appreciation?”

He went to say

if one has to wait for 6 years for bto to be completed and go into rental. One would have to spend almost 200k for the 6 years of rent. And that figure is very Conservative given current market.

FB discussion

Another S’porean added

rent is now hitting 4.2k even in far flung places like Punggol, so that is over 300k assuming worse case scenario of a 6 year wait. Even if MND can bring the wait down to 3 years, this is 150k flying way from a couple’s nest egg and not coming back. I am not keen on the idea of young couples having to do this, because that money is honestly better spent on their kids. A dollar spent there benefits not only them, but the nation at large much more.

FB discussion

Our PAP millionaire ministers better take note that time is money, There’ll be a lot of unhappy S’poreans if the PAP doesn’t change their policies on when and how flats are built.

They are barking up the wrong tree by focusing on the “subsidy” BTO owners (and others) get. Focus on getting the BTO flats into the hands of voters ASAP.


Double confirms what I always tot about Starbucks coffee

In Uncategorized on 19/02/2023 at 4:16 pm

I always tot that Starbucks coffee lacked the caffeine kick. I wasn’t wrong. According to a UK consumer survey, Starbucks coffee is caffeine challenged (OK lite) compared to other high street coffee retailers .

  • Costa had the strongest medium cappuccino with 325mg of caffeine – equal to four cups of tea
  • A Starbucks cappuccino contained the least at 66mg – less than the 75mg in a single tea bag
  • Greggs and Pret a Manger had the second and third-strongest cappuccino at 197mg and 180mg respectively
  • Pret‘s single espresso was strongest at 180mg
  • Starbucks espresso was bottom of the table at just 33mg
  • Pret topped the list for the most caffeinated filter coffee at 271mg a cup
  • Greggs was a close second at 225mg
  • Starbucks was again the least caffeinated at 102mg

Source: Which?

BBC article:

God believes in symmetry

In Uncategorized on 19/02/2023 at 3:18 am

The wealthiest 1 per cent, according to the most recent global wealth report by Credit Suisse, own about 50 per cent of global wealth, while  the poorest 50 per cent own about 1 per cent.

PAP govt at work

In Political governance on 16/02/2023 at 6:42 am

Budget BS

In Media on 15/02/2023 at 8:42 am

Today’s papers are flooded with propaganda on the Budget. For example we will not be told that the deficit doesn’t exist if we follow international formats of reporting.

This coming flood reminded me that I recently read a BBC article

Review of BBC economic coverage finds concerns but no systematic bias

“For example… we think too many journalists lack understanding of basic economics or lack confidence reporting it. This brings a high risk to impartiality. In the period of this review, it particularly affected debt.”Some journalists seem to feel instinctively that debt is simply bad, full stop, and don’t appear to realise this can be contested and contestable.”
Several such assumptions “seem to lurk like this either unnoticed or uncorrected”, they added. “Others that outsiders observed in BBC coverage were: ‘more public spending is good’ and ‘tax cuts are good.'”


More on oil majors

In Energy on 14/02/2023 at 5:29 am

Shareholders are just being rewarded for keeping the faith,

But they should give thanks to Putin’s special military operation.

When an oil major goes Woke

In Energy on 13/02/2023 at 3:21 am

Shareholders are unhappy.

BP loves renewables and wanted to cut oil and gas production by 40% by 2030.. It’s share price is far behind those of US rivals ExxonMobil and Chevron, which are a lot less green.

It’s now repenting and planning to pump out more oil, something foreshadowed in Oil: Who is right?.

Property owners: Thank the PAP govt

In Economy, Property on 12/02/2023 at 5:21 am

Our millionaire ministers deserve their $?

Kate Spade Tin and PAP HQ blame each other for omnishambles

In S'pore Inc on 11/02/2023 at 8:45 am

I don’t know what to say. In army if boy, she garbra and sabo king.

She threw the PAP mgt under the bus by telling us that she cleared it with HQ.

They then pulled her under the bus by saying that she didn’t give details. They implicitly said that they assumed she knew the rules about lobbying when she raised the matter.

Prediction, she won’t be standing in next GE. Will she be in Grab after making way for PAP new blood? ‘My retired PAP MP friend resigned from a senior private sector job when he had to make way for new blood. Go figure it out. But I very cynical.

Adrian Tan comment on FB

PAP FB statement

Employment of Ms Tin Pei Ling by Grab Singapore

In September 2022, Ms Tin Pei Ling informed the Party that she would be taking up the post of Public Affairs and Policy at Grab Singapore (“Grab”), and the nature of the job. The Party noted this and did not object. Earlier this month, following public comments about Ms Tin’s appointment, we discussed the matter with her again to understand better the scope of her duties. It then became clear to the Party that she would be expected to engage regularly with Government ministries and agencies on public policy issues on behalf of Grab. While she would make it clear that she was engaging in her private capacity and not as a PAP MP, there could still be challenges in carrying out these responsibilities, especially under the current circumstances.

Ms Tin has since discussed the matter with Grab and informed the Party that her role in Grab has been changed to Director (Corporate Development). In this role, her primary duties will not involve Government relations in Singapore.

The PAP holds itself and its Members of Parliament to high standards of propriety and integrity. Most PAP backbench MPs have private careers. This keeps them in touch with our economy and society and enables able and committed people from many professions and walks of life to serve as MPs, raising the quality of MPs in Parliament. However, it is essential that MPs rigorously separate their public role as MPs from their professional and commercial interests in their private careers.

Under the “Rules of Prudence” issued to every PAP MP, MPs are expected to conduct themselves in their duties and responsibilities with utmost propriety, to uphold the reputation of the Party and the integrity of the Singapore system. In no circumstances are they to abuse their status as MPs, or their access to ministers, civil servants, and government agencies, for private or commercial gain. While performing their MP duties, they are expected to declare potential conflicts of interest, and recuse themselves as appropriate from decisions, discussions and positions where there is a risk of such a conflict arising.

The Party wishes Ms Tin Pei Ling success in her new role in Grab, and is confident that she will continue serving residents of MacPherson as their MP effectively.

All reactions:


He didn’t listen to Buffett

In Financial competency on 10/02/2023 at 4:18 am

He did the opposite. See what happens.

Warren Buffett advised investors to be fearful when others are greedy and greedy when others are fearful. SoftBank Group’s Masayoshi Son is doing the exact opposite. Son and his largely ethnic Indian dealmakers spent big when tech valuations were super hot and then went quiet as prices slumped. Its Vision Funds invested just US$300mn in two companies, compared to US$9.6bn during the same quarter in 2021.

Son is personally liable for more than U$5 billion on side deals as the funds losses mount.

He “borrowed” $ from the funds to fund his personal investments into the funds. That’s Mamas’ and Son’s idea of financial engineering.

S’poreans punching above their weight

In Tourism on 09/02/2023 at 4:38 am

I didn’t realise we were such great spenders.

Must be all that cash that S’poreans “save” because of the HDB subsidies,

Thank the PAP govt, not grumble.

Vote wisely.

Tale of two cities during Covid pandemic

In Economy, Hong Kong on 08/02/2023 at 3:18 am

Xi locked down HK, while the PAP govt imposed lighter restrictions.

Goh Meng Seng will never admit that the PAP govt got things right.

In 2023, HK’s GDP numbers will be a lot better than ours. Wait for Meng Seng’s “HK got it right”.

China owns the sun

In China, Energy on 07/02/2023 at 10:41 am

OK, OK, China dominates solar pv manufacturing capacity.

China controls 79% of the production of polysilicon used for solar panels, 97% of the production of solar wafers, 85% of solar cells and 75% of the manufacturing process to assemble cells in modules, according to an International Energy Agency report published in July 2022.

Indian capitalism and democracy make Chinese communism look great

In China, India on 06/02/2023 at 4:25 am

OK, OK, there’s no such thing as Chinese communism. It’s socialism with Chinese characteristics.

Oil: Who is right?

In Energy on 05/02/2023 at 6:13 am

Who is likely to be more correct, Exxon or BP? These are very different views of the future of crude coming from within the small crop of western oil supermajors — and underscores the companies’ very different strategies.

Exxon (and other US energy cos are continuing to focus on oil and gas) while BP (and other European energy cos are hedging their bets by going into renewables.)


BP Chief Executive Bernard Looney plans to dial back elements of the oil giant’s high-profile push into renewable energy, people familiar with recent discussions said to the Wall Street Journal in an article published on Feb. 1. Looney has said he is disappointed in the returns from some of the company’s renewable investments and plans to pursue a narrower green energy strategy, the people said.


I’m betting (via my shares in penny stock Sembcorp Marine) that Exxon is right about oil demand.

US$ decline ended?

In Uncategorized on 04/02/2023 at 3:25 pm

Bullish 2023 mkts in context

In Financial competency, S'pore Inc on 04/02/2023 at 7:07 am

2022 was a bad year.

Our market’s been pretty stable.

This year’s rises (Added at 7.15am after publication.)

Why America is great again

In Accounting, India on 03/02/2023 at 4:20 am

A very tiny American research firm and short seller, Hindenburg, issued a very critical report about the Adani Group, one of India’s biggest conglomerates. A pulled secondary share sale of US$2.5bn and a rout in the markets shows that a pal of PM Modi, and India Inc are no match for a tiny American short seller.

Risk On

In Uncategorized on 02/02/2023 at 1:51 pm

And this chart came out the Fed chief said last night that he’s relaxed about bullish markets. Game on until April. A perma bear says the markets will keep on rising until April before correcting. Jeremy Grantham is a perma bear whose calls on market rallies are better than the average bear, or even bull.

Thanks Temasek for CSE ang pow

In Temasek on 02/02/2023 at 3:24 am

My Spring Festival ang pow from Temasek came before chap gor mei. I didn’t expect any $ from Temasek’s CSE Special until Easter.

Yesterday, I broke even on my CSE shares post rights slightly more than one month after being allocated excess rights. If I include the dividends that I got since the original purchase, I’m comfortably ahead.

See CSE Global: Another Temasek present (Christmas)? for the background and why taking part in TLCs’ rights issues are no brainers. OK, OK things did go badly wrong in Sembcorp Marine’s 2020 Temasek Special. But nobody’s perfect.

CI says Temasek rocks.

Vote wisely.

China is hot (cont’d)

In China on 01/02/2023 at 2:37 pm

China is hot

In China on 01/02/2023 at 8:52 am

Copper: Upper, up and away

In China, Commodities on 30/01/2023 at 6:16 am

China’s open for business again.

Rabbit depictions around East Asia

In China, Holidays and Festivals on 28/01/2023 at 4:13 pm

“Its red eyes, blue body, strange smile, spiked feet, and oddly humanoid hands have sparked a fierce backlash, Some have called it “pure evil”. 

Sixth Tone, a Chinese news site, has about the stamps.

Trust Xi to screw up. Other three rabbits are OK.

Other Lion Cities

In Indonesia on 27/01/2023 at 1:35 pm

Notice they are largely in the Indonesian archipelago: the Hindu influence.

Telsa no longer defies gravity

In Uncategorized on 26/01/2023 at 5:30 pm

It reported revenues of US$24.3bn for the December quarter, up 37 per cent from last year, which was a record. 

But its market valuation of about $450bn remains well below its $1.2tn peak in 2021

End of US dominance in sight?

In Financial competency on 25/01/2023 at 8:59 am

High Tech: the new value stocks

In Financial competency on 23/01/2023 at 5:29 am

Microsoft, Amazon and Meta are among the five largest weights in the S&P 500 Value index, alongside the likes of Cisco Systems, Salesforce, Netflix, IBM, Intel and PayPal.

Not all of them are classified under IT. Some are under Communication Services and Consumer Discretionary.

CNY tot

In Energy, Financial competency on 22/01/2023 at 6:34 am

Investing ain’t easy

When everybody is digging for gold, it’s good to be in the pick and shovel business.

Attributed to various famous people

Ain’t that easy. There’s a rush to invest in hydrogen related activities because of its green energy credentials.

But investors in this maker of electrolysers that separate hydrogen from water have lost $. It’s no start-up (founded in 2001) and it has strong backers: German industrial gas group Linde and British construction equipment manufacturer JCB

ITM Power has issued a third profit warning in eight months maker of electrolysers that separate hydrogen from water

Spring Festival movement in China

In China, Holidays and Festivals on 21/01/2023 at 5:28 am

Temasek trying very hard to make our reserves go further?

In Financial competency, S'pore Inc, Temasek on 19/01/2023 at 8:32 am

Or there are some FT financial engineers there trying very hard to show the private equity funds that they should employ them as financial engineering specialists who know how to borrow up to hairline.

We are in a sweet spot cont’d

In Economy, Indonesia, Malaysia on 18/01/2023 at 8:46 am

Four berths in Tuas Mega Port, have been completed. They are the first of 21 due by 2027. When it is completed in 2040, the complex will be the largest container port on Earth, boasts PSA International.

The IMF expects the region’s five largest economies—Indonesia, Malaysia, Singapore, the Philippines and Thailand—to be the fastest-growing bloc in the world by trade volumes between 2022 and 2027.

Feeling bullish? Here’s some supporting data

In Financial competency on 17/01/2023 at 4:45 am

Since its inception in 1957, there have only been two occasions in which the S&P 500 fell for two (or more) consecutive years. The index posted back-to-back declines in 1973 and 1974, and it fell for three consecutive years between 2000 and 2002.

The former is particularly noteworthy because inflation started trending upward in early 1973, and it peaked at 12.2% in November 1974. The S&P 500 then mounted a recovery in 1975. Something similar has played out over the past two years. Inflation began rising in early 2021, and it peaked at 9.1% in June 2022. That trend, assuming it continues, could trigger a bull market rally in 2023.

Spin the wheel, roll the dice: “Them’s the breaks”.

We are in a sweet sport because of our Asean neighbours

In China, India, Indonesia on 16/01/2023 at 5:39 am

And by 2050 Indonesia will be the world’s fourth-largest economy, projects Goldman Sachs.

HDB “subsidy” assertions continue

In Media, Property, Public Administration on 16/01/2023 at 5:32 am

More assertions on the “subsidy” issue

Former Australian prime minister Julia Gillard commented that if you treat voters as sophisticated, they will return the favour. Our millionaire ministers obviously don’t believe this.

They obviously believe thar if they repeat assertions often enough the assertions become the truth, especially if the constructive, nation-building media support the assertions. But they should should remember that the most important component in the constructive, nation-building media has been caught with its pants down. It has admitted lying about its circulation figures after a not constructive, nation-building publication raised issues about the matter.

The SPH media team is now trying very hard to limit the damage.


Oil prices: Wishful thinking by the US energy agency?

In Energy on 14/01/2023 at 7:55 am

Most probably one of these guesses will be wrong.

My guess is that if demand increases (think China) prices will be around US$100. One reason why I’m holding onto my SembCorp Marine shares: Tempting fate but thanks again Ho Ching

Why is the US of A the Hegemon

In Uncategorized on 13/01/2023 at 1:51 pm

The legislators are Christians.

Almost 88% of the members of the 118th session of Congress say they are Christian, but only 64% of Americans identify as Christian.


Elon breaks record

In Uncategorized on 12/01/2023 at 2:39 pm

From November 2021 to December 2022 he lost around US$165bn, reports the Guinness World Records (

The figures are based on data from Forbes, but Guinness said other sources suggested Mr Musk’s losses could have been higher.

Three cheers for our millionaire education ministers

In Public Administration on 11/01/2023 at 1:23 pm

They really give options for late bloomers.

A FB friend whose son is going to ITE posted this comment

got so many tiers now

1. PFP – Direct go Poly

2. DPP – 2 year ITE higher nitec with secured Poly spot

3. JAE – 3 year ITE higher nitec with academic results

4. EAE – Early Secured 3 year ITE with portfolio

5. JAE – 2 year NITEC

6. Take O lvl at Sec 5 – some have academically improved and will be able to jump the huge gap in 1 year. Some are forced by parents whose mindset refuse to accpet any alternative education route. Some have failed their poly foundation year and thrown back to sec 5.

FB comment

What Dr Goh Keng Swee wanted is coming to fruition. Thanks to Tharman and the other millionaire PAP ministers who came after Tharman

Buffett sayings

In Financial competency, Financial planning on 10/01/2023 at 3:50 pm

A now ex-Tai Tai (she now poor) because she disagreed with these tenets. She can conduct a masterclass on how to to marry an elderly ATM machine and end up poor. How tai tai got poor: Tai tai forgot this amd Tai tai keeps losing money

S’pore and other Asian countries that are waiting to welcome Chinese tourists

In China, Economy, Japan, Malaysia, Tourism, Vietnam on 09/01/2023 at 3:10 am

For a little red speck we are punching above our weight in getting Chinese tourists. Must be the casinos (Cambodia too)

Why China’s opening up is good news for global tourism

In China, Tourism on 08/01/2023 at 6:28 am

Housing: Voice of the People in 2022

In Economy, Political governance, Property, Public Administration on 05/01/2023 at 3:51 am

But the voters should thank the millionaire ministers and the (th Immortal?


Property is crashing everywhere, except in Singapore. The Asian city-state’s private residential prices are up 14% year-on-year, according to third-quarter data from Knight Frank. That’s a sharp contrast to major cities like Hong Kong and Sydney, which saw decreases of 7% and 4% respectively over the same period.

The city-state boasts a home ownership rate of nearly 90% as of 2021, thanks to the government’s public housing policies. With average annual real wages growing almost 20% since 2017 and total employment expanding, many households are now looking to upgrade to private residences. Yet due to Covid-19 disruptions, net new housing has fallen below the 10-year average. As of the third quarter, 78% of planned private residential units were under construction, down from 90% in the same quarter in 2021, according to the Urban Redevelopment Authority.

Can the millionaire PAP ministers hear the people crying?: Voice of the People in June 2022

In Economy, Political governance, Public Administration on 04/01/2023 at 4:19 am

Yes they heard the voters’ concerns about inflation

But the 9th Immortal hardened the hearts of the millionaire PAP ministers (Remember that they are probably part of the 1% who felt “No impact all all” about inflation): GST went up 1%age point on 1 January. To be fair to these millionaire ministers, they shelled out a few more peanuts.

Do you hear the people sing?
Singing the song of angry men?
It is the music of the people
Who will not be slaves again!
When the beating of your heart
Echoes the beating of the drums
There is a life about to start
When tomorrow comes

Why PM-in-waiting should be worried

In Economy, Political governance, Public Administration on 03/01/2023 at 5:05 am

In June 2022 around the time the new Dauphin was anointed this came out:

Only 63% felt positive about him and of that most (45%age points felt “Quite positive”. 19% “Don’t know/ No Opinion”. Wonder what are the %ages now?

Well he’s not done much about the “Cost of living” or “Inflation/ Price rises” except throw a few peanuts our way. So the 45% of “Quite positive” were right to be sceptical.

Digital S$

In Uncategorized on 02/01/2023 at 8:18 am

Santa morphs into Tai Shen

In Uncategorized on 01/01/2023 at 4:22 am

May the 2023 recession be shallow and short.

But don’t count on the traditional Chinese New Year rally. Santa, in a break of tradition, didn’t visit Wall St. There was no Santa rally. No resents for the traders.