Wednesday, November 11, 2009

Gerrymandering and election

Gerrymandering is the redrawing of electoral districts to benefit the incumbent in an election. It is practiced in New York and is considered to be corrupt.

Consumer Protection and Fair Trading Act

There is a law in Singapore called the Consumer Protection and Fair Trading Act (CPFTA). This law, which was passed in 2003 did not apply to financial products initially. It was extended to include financial products in 2007.

Many consumers have lost a lot of money due to unfair trading imposed by financial institutions and intermediaries. They should get a lawyer to see if these parties have infringed the CPFTA. If you are not able to engage a lawyer, you can do some research on your own or get assistance from FISCA.

If you have done some research and wish to share your views with other consumers, please send them to kinlian@gmail.com.



Motor insurance is compulsory

It is compulsory by law for the owner of a vehicle to have a motor insurance cover. The mandatory cover is for third party injury. In theory, you do not need to buy insurance to cover property damage, if you do not wish to.

It is difficult to find an insurance company that will offer only compulsory Act cover. A more frequent coverage is third party cover (which covers liability to third parties for injury and property damage). The premium is about 50% to 65% of the comprehensive cover. Comprehensive cover, which is more common, will also cover damage to your own vehicle.

During the past two years, the premium for motor insurance has increased by about 30% due to more accidents and fraudulent claims. Some customers have to pay more. The insurance companies introduced the "Motor Claim Framework" to combat the escalation in claims. So far, it has failed to achieve the desired outcome.

Shape Quiz for birthday party

A customer came to my office to buy 60 sets of shape quiz to be given to children at a birthday party. Cost per package is $2 (comprise of shape quiz sheet with 100 shapes and pieces made in plastic).

Delivery of rechargeable torchlight

I can arrange delivery of the rechargeable torchlight to buyers for $7. You pay the normal price of $6.50 and enjoy a discount of $1 for purchase of 5 or more. More details of the torchlight here.

You can pay by internet banking or send a cheque to my office at Blk 5, Ang Mo Kio Industrial Park 2A #06-12, Singapore 567760. Enquiry at 6555 5762.