The problem
http://www.straitstimes.com/STForum/Story/STIStory_548906.html
Invest in water management to avoid flooding
http://www.straitstimes.com/STForum/Story/STIStory_548916.html
Public has role in preventing floods
http://www.straitstimes.com/STForum/OnlineStory/STIStory_548824.html
Friday, July 2, 2010
MRT service
Frequency of trains
http://www.straitstimes.com/STForum/Story/STIStory_548915.html
Removal of seats
http://www.straitstimes.com/STForum/Story/STIStory_548905.html
http://www.straitstimes.com/STForum/Story/STIStory_548915.html
Removal of seats
http://www.straitstimes.com/STForum/Story/STIStory_548905.html
Promotion on sale of books
Please check the books that are on promotion here. The promotions are for a short period and may be withdrawn without notice.
Book a taxi by SMS
Cheques
Printed in Straits Times Forum page on 3 July (with some editing)
I wrote my first cheque 40 years ago. The rules were to write the amount in figures and words, to write the date and spell the name of the payee correctly. Any alteration to the cheque has to be signed. This was at a time when computers were not widely used.
This archaic rules remain the practice today. It has always been tedious to write a cheque and to avoid making any spelling or other mistake mistake. If the payor makes any small mistake, regardless of how minor or inconsequential, the bank will return the cheque for correction. The bank staff is not prepared to exercise any discretion and common sense.
Recently, I was asked my my lawyer to write a cheque in favor of "The Hongkong and Shanghai Bank account No 1234567 in the name of XYZ development company". There was insufficient space on the cheque to write the payee’s name.
Many countries have done away with cheques. My friend told me that cheques are hardly used in China.
In many countries, the payor can make a payment by a direct transfer through the internet or a bank counter. The payor only needs to write down the account number of the payee and the amount in figures (i.e. no need to be in words).
Singapore continues the archaic practice of making most payments by using cheques, instead of a simpler mode of payment. While payment can now be made through internet banking, it requires a troublesome process of registering and authenticating the recipient’s bank account and is not suitable for once-off payments.
I hope that the Monetary Authority of Singapore to take the lead in this change to introduce a simple system of direct banking transfer. It will save the tedious process of processing cheques through the banking system. The private sector cannot take the lead in making this change, as they do not have the regulatory powers.
Tan Kin Lian
I wrote my first cheque 40 years ago. The rules were to write the amount in figures and words, to write the date and spell the name of the payee correctly. Any alteration to the cheque has to be signed. This was at a time when computers were not widely used.
This archaic rules remain the practice today. It has always been tedious to write a cheque and to avoid making any spelling or other mistake mistake. If the payor makes any small mistake, regardless of how minor or inconsequential, the bank will return the cheque for correction. The bank staff is not prepared to exercise any discretion and common sense.
Recently, I was asked my my lawyer to write a cheque in favor of "The Hongkong and Shanghai Bank account No 1234567 in the name of XYZ development company". There was insufficient space on the cheque to write the payee’s name.
Many countries have done away with cheques. My friend told me that cheques are hardly used in China.
In many countries, the payor can make a payment by a direct transfer through the internet or a bank counter. The payor only needs to write down the account number of the payee and the amount in figures (i.e. no need to be in words).
Singapore continues the archaic practice of making most payments by using cheques, instead of a simpler mode of payment. While payment can now be made through internet banking, it requires a troublesome process of registering and authenticating the recipient’s bank account and is not suitable for once-off payments.
I hope that the Monetary Authority of Singapore to take the lead in this change to introduce a simple system of direct banking transfer. It will save the tedious process of processing cheques through the banking system. The private sector cannot take the lead in making this change, as they do not have the regulatory powers.
Tan Kin Lian
Survey: Flood in Singapore
Dear Mr. Tan,
Please put this link in your blog:
http://www.surveymonkey.com/s/66SCMBR
Alex
Update
Alex gave me the results of the survey (100 respondents) as folows:
What is the reason for the flooding in Singapore
a) vegetation in culvert 11%
b) global warming 18%
c) unbridled urbanisation 63%
d) litter in drain 35%
According to the creator of this survey (not Alex), the correct answer is (d) as this is the only reason that you can blame the Singaporeans. Apparently the survey is to determine if you have the quality to be a government leader!
Please put this link in your blog:
http://www.surveymonkey.com/s/66SCMBR
Alex
Update
Alex gave me the results of the survey (100 respondents) as folows:
What is the reason for the flooding in Singapore
a) vegetation in culvert 11%
b) global warming 18%
c) unbridled urbanisation 63%
d) litter in drain 35%
According to the creator of this survey (not Alex), the correct answer is (d) as this is the only reason that you can blame the Singaporeans. Apparently the survey is to determine if you have the quality to be a government leader!
Relevance of Tommy Wong’s books “Wisdom on How to Live Life”
Tommy Wong uses an amusing dialogue format, in the first part of Book 1. He shares his insights on why there are so many negative events happening in the world today leading to a life of struggle and sufferng for many.
In the second part of Book 1 and in Book 2, Tommy shares concepts which can change the world for the better leading to a life of peace, love, joy and harmony. I like his writing style as it is easy to read and clear.
For those who are interested in living a better life and in a better world, Tommy Wong’s books can be ordered here.
Tan Kin Lian
In the second part of Book 1 and in Book 2, Tommy shares concepts which can change the world for the better leading to a life of peace, love, joy and harmony. I like his writing style as it is easy to read and clear.
For those who are interested in living a better life and in a better world, Tommy Wong’s books can be ordered here.
Tan Kin Lian
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