If you have made any investment in land banking products in past years, and have made a profit or loss, please share your personal experience. You can write to me at kinlian@gmail.com. I will not quote you by name, unless you wish to be identified.
In your story, please state the representations that were made to you which led to your decision. Indicate if these representations turned out to be true or were misleading, and if you have evidence to support the representations. If the representations were made verbally, you can check with other attendees who heard the same representations and ask them to verify your statement.
If you have made a gain from the investment, please send your story to me too. I like to hear the good and bad angles of land banking.
Tan Kin Lian
Tuesday, October 13, 2009
Lawyers should uphold truth and justice
There is a letter printed in a newspaper from a blogger who made a honest opinion about the quality of food in a restaurant. She received a letter from a lawyer acting from the restaurant, asking for the blog to be removed or face the threat of legal action for defamation.
Is it proper for the lawyer to make such a threat? Has the lawyer already established that there were grounds for a defamatory action? Does the lawyer have a duty to advice the client on the difference between an honest opinion and a malicious intent?
If the lawyer does not have valid grounds and make such a threat to frighten the blogger, does it constitute "bullying"? Is it legal? Is the legal profession required by their ethics to uphold truth and justice, and avoid the abuse of the legal process?
I shall be asking the views of the Law Society on this matter. I will see if there is grounds for a complaint to be lodged against the lawyer for unethical behavior.
Tan Kin Lian
Is it proper for the lawyer to make such a threat? Has the lawyer already established that there were grounds for a defamatory action? Does the lawyer have a duty to advice the client on the difference between an honest opinion and a malicious intent?
If the lawyer does not have valid grounds and make such a threat to frighten the blogger, does it constitute "bullying"? Is it legal? Is the legal profession required by their ethics to uphold truth and justice, and avoid the abuse of the legal process?
I shall be asking the views of the Law Society on this matter. I will see if there is grounds for a complaint to be lodged against the lawyer for unethical behavior.
Tan Kin Lian
Wasteful competition
Singapore can give a good case study about wasteful competition. Some examples to be studied are:
a) Multiple set-top boxes to watch different pay TV channels
b) Multiple cash cards for travel and merchants
c) Public transport operated by two large operators
The competition led to duplication and waste. Consumers are inconvenienced. Merchants are not willing to accept the new mode of cashless payments, due to the need to install multiple gadgets. The public transport network is not convenient for consumers, especially the last mile.
There is a case for these functions provided by the state or by a regulated monopoly. Some countries adopt the concept of regulated monopoly, which can work well under proper management.
a) Multiple set-top boxes to watch different pay TV channels
b) Multiple cash cards for travel and merchants
c) Public transport operated by two large operators
The competition led to duplication and waste. Consumers are inconvenienced. Merchants are not willing to accept the new mode of cashless payments, due to the need to install multiple gadgets. The public transport network is not convenient for consumers, especially the last mile.
There is a case for these functions provided by the state or by a regulated monopoly. Some countries adopt the concept of regulated monopoly, which can work well under proper management.
Conversation with a German resident
I had a conversation with a Malaysian who married a German and had raised two children in Germany. She told me the following:
a) Germany now has a 35 hour week.
b) Her boys had to do compulsory military service or community service, but the duration is less than one year.
c) They are paid above minimum wage for the compulsory service. They enjoy it, as they have the chance to learn and travel.
I have not verified the facts. I hope that someone who is familiar with the situation can provide an update.
a) Germany now has a 35 hour week.
b) Her boys had to do compulsory military service or community service, but the duration is less than one year.
c) They are paid above minimum wage for the compulsory service. They enjoy it, as they have the chance to learn and travel.
I have not verified the facts. I hope that someone who is familiar with the situation can provide an update.
Unfair business practices
Have you come across any unfair business practice, e.g. excessive charge, hidden fees, non-transparency, onerous penalty. Give details in this survey.
PayTV to carry all channels
Printed in MyPaper on 13 October
Editor
MyPaper
I refer to the letter entitled “MDA asked for sports package pricing clarity” (MyPaper 12 Oct 09).
I hope that the Media Development Authority (MDA) should address this issue from a broader perspective. It is wasteful and inconvenient for consumers to have two set top boxes and wirings in their home to receive content from two separate PayTV operators.
MDA should the PayTV operator to deliver the content of any provider at a regulated charge for the delivery of the content. The regulator should disallow the PayTV operator to adopt predatory pricing or other restrictions to block out the content of their competitors.
The consumer should be allowed to choose any PayTV operator (i.e. Starhub or SingTel) and have access to all available contents. This will allow competition to work at its best, to reduce cost and increase choice for consumers.
Tan Kin Lian
Editor
MyPaper
I refer to the letter entitled “MDA asked for sports package pricing clarity” (MyPaper 12 Oct 09).
I hope that the Media Development Authority (MDA) should address this issue from a broader perspective. It is wasteful and inconvenient for consumers to have two set top boxes and wirings in their home to receive content from two separate PayTV operators.
MDA should the PayTV operator to deliver the content of any provider at a regulated charge for the delivery of the content. The regulator should disallow the PayTV operator to adopt predatory pricing or other restrictions to block out the content of their competitors.
The consumer should be allowed to choose any PayTV operator (i.e. Starhub or SingTel) and have access to all available contents. This will allow competition to work at its best, to reduce cost and increase choice for consumers.
Tan Kin Lian
Speed and control sensors of an automated car
What is the ideal speed of an automated car? What are its control sensors? Read this blog.
Invest in STI ETF
Last year, my wife asked for my views on the shares to invest in. Previously, she kept her money in fixed deposits, but interest rate had dropped to below 1% for a few years already. The banks sold her a few structured products over the past years that gave a very poor return. e.g. 2% for 5 years, but fortunately her principal was intact.
I advised her to invest in the STI ETF. This is an exchange traded fund that is invested in the component stocks of the ST Index. It is a large, well diversified fund with low cost.
Her friends advised her to invest in some of the hot stocks that have higher liquidity and market interest. Fortunately, she took my advice.
For a while, the STI ETF lost money due to the market collapse earlier this year. I advised her not to worry, as it is a long term investment.
Recently, she told me that the STI ETF had made a large profit for her. The gain must be more than 30% over the past year. This was the best performing share among the few shares that she held.
Some people complained that there is not much liquidity in the STI ETF. For most ordinary investors who are investing for the long term, the liquidity is sufficient. The fund manager will create more units if there is demand.
I advised her to invest in the STI ETF. This is an exchange traded fund that is invested in the component stocks of the ST Index. It is a large, well diversified fund with low cost.
Her friends advised her to invest in some of the hot stocks that have higher liquidity and market interest. Fortunately, she took my advice.
For a while, the STI ETF lost money due to the market collapse earlier this year. I advised her not to worry, as it is a long term investment.
Recently, she told me that the STI ETF had made a large profit for her. The gain must be more than 30% over the past year. This was the best performing share among the few shares that she held.
Some people complained that there is not much liquidity in the STI ETF. For most ordinary investors who are investing for the long term, the liquidity is sufficient. The fund manager will create more units if there is demand.
Views of an unemployed, mature worker
Dear Mr. Tan,
I want to thank you for speaking out for the unemployed people, especially those who are in their middle aged and are unfortunate to be retrenched. I am one of these people. I worked for more than 10 years in a foreign company who decided two years ago, to relocate to China.
It was a big shock to me. I had all along thought that I had a steady job with a large company. But, life is so unpredictable now.
At first, I thought that it would be not difficult for me to find a similar job. After all, I worked hard and had kept up to date with technology. I also had accumulated a wealth of experience that could be applied to other manufacturing companies.
This was not the case. I had difficulty in finding another job, even though I was prepared to take a 50% reduction in salary. Somehow, things do not work out. The human resource managers probably felt that I would not stay long with a big reduction in salary. I never got the chance.
Fortunately, I had some savings, so I am not in debt. But I had to cut down on my expenses drastically, including giving up my car. But, the rejection of my countless applications for a job was difficult to take at first. By now, I got used to being rejected and declined.
It is quite unkind of people to pass remarks that the unemployed are unskilled and not hardworking. This may be true for some people, but it is not true for many others, such as me. When I was younger and during good times, I always had the confidence that I could always have a job, with my skill and education. But not any more.
For people posting unkind remarks, I can only say, "your time will come". Only then will you realise why people like Mr. Tan is asking for employment practices to be changed and for the available work to be shared fairly among the willing workers. There is no point in having people with jobs working long hours, neglecting their families, while other people are unemployed.
Mr. Tan, thank you for suggesting this idea of sharing job opportunities. I hope that the leaders will pay attention to it. It is a good idea.
I want to thank you for speaking out for the unemployed people, especially those who are in their middle aged and are unfortunate to be retrenched. I am one of these people. I worked for more than 10 years in a foreign company who decided two years ago, to relocate to China.
It was a big shock to me. I had all along thought that I had a steady job with a large company. But, life is so unpredictable now.
At first, I thought that it would be not difficult for me to find a similar job. After all, I worked hard and had kept up to date with technology. I also had accumulated a wealth of experience that could be applied to other manufacturing companies.
This was not the case. I had difficulty in finding another job, even though I was prepared to take a 50% reduction in salary. Somehow, things do not work out. The human resource managers probably felt that I would not stay long with a big reduction in salary. I never got the chance.
Fortunately, I had some savings, so I am not in debt. But I had to cut down on my expenses drastically, including giving up my car. But, the rejection of my countless applications for a job was difficult to take at first. By now, I got used to being rejected and declined.
It is quite unkind of people to pass remarks that the unemployed are unskilled and not hardworking. This may be true for some people, but it is not true for many others, such as me. When I was younger and during good times, I always had the confidence that I could always have a job, with my skill and education. But not any more.
For people posting unkind remarks, I can only say, "your time will come". Only then will you realise why people like Mr. Tan is asking for employment practices to be changed and for the available work to be shared fairly among the willing workers. There is no point in having people with jobs working long hours, neglecting their families, while other people are unemployed.
Mr. Tan, thank you for suggesting this idea of sharing job opportunities. I hope that the leaders will pay attention to it. It is a good idea.
Subscribe to:
Posts (Atom)