I have developed this prototype website for a government agency or business organisation. It allows the public to access the information and forms of the organisation. This prototype website allows the information to be stored in separate PDF documents that can be retrieved easily and saved on the user's computer or printed. This will be easier to use than the spiderweb that is now used by most large organisations.
Please give your views about this prototype and suggestions for improvements. If you like this style, please help to encourage more organisations to move to this style.
Tan Kin Lian
Friday, July 9, 2010
FIFA World Cup - Predict the Winners
Note: the correct number should be 8202 8866. As this is not a 1900 number, there is no charge for sending this SMS).
Are you better than Paul the Octopus or Mani the parrot? Try this game.
1. Predict the ranking of the top four countries in the World Cup 2010 - Spain, Holland, Germany, Uruguay.
2. Send a SMS to 8202 8866 as follows SMS FIFA {NRIC} {ABCD}where A, B, C and D are the winner, 2nd, 3rd and 4th place. For example: SMS FIFA S1234567A SHUG (i.e. Spain, Holland, Uruguay, Germany).
3. Closing date: midnight 10 July 2010.
3. Three prizes (Tangram Book) will be awarded to the 3 winners, picked at random, from the all-correct entries.
4. Each participant can submit only 1 entry. If more than 1 entry is submitted on the same mobile phone, the earlier entry is replaced automatically by the contest software.
Are you better than Paul the Octopus or Mani the parrot? Try this game.
1. Predict the ranking of the top four countries in the World Cup 2010 - Spain, Holland, Germany, Uruguay.
2. Send a SMS to 8202 8866 as follows SMS FIFA {NRIC} {ABCD}
3. Closing date: midnight 10 July 2010.
3. Three prizes (Tangram Book) will be awarded to the 3 winners, picked at random, from the all-correct entries.
4. Each participant can submit only 1 entry. If more than 1 entry is submitted on the same mobile phone, the earlier entry is replaced automatically by the contest software.
A fair investment product
Here is a typical example.
A young consumer is advised by an agent to buy a life insurance policy.
The benefit illustration shows the premium over 25 years to be $250,000
The policy gives a projected return of $300,000, which looks attractive compared to the total premium
The value of the accumulated premium, at a projected yield of 5%, is $500,000
The effect of deduction is $300,000 (40% of $500,000)
The consumer is not aware of the following:
a) the above figures in the benefit illustration - as they are hidden among less important information
b) a fair amount to be deducted to cover expenses, profit and insurance, should be 20%
A fair investment product will give $100,000 more to the consumer.
Generally, the consumer should avoid life insurance products that are sold by an insurance agent, as the outcome is likely to be quite close to the figures shown above.
To look for a better investment choice, read Practical Guide on Financial Planning or attend a talk on financail planning organised by FISCA.
A young consumer is advised by an agent to buy a life insurance policy.
The benefit illustration shows the premium over 25 years to be $250,000
The policy gives a projected return of $300,000, which looks attractive compared to the total premium
The value of the accumulated premium, at a projected yield of 5%, is $500,000
The effect of deduction is $300,000 (40% of $500,000)
The consumer is not aware of the following:
a) the above figures in the benefit illustration - as they are hidden among less important information
b) a fair amount to be deducted to cover expenses, profit and insurance, should be 20%
A fair investment product will give $100,000 more to the consumer.
Generally, the consumer should avoid life insurance products that are sold by an insurance agent, as the outcome is likely to be quite close to the figures shown above.
To look for a better investment choice, read Practical Guide on Financial Planning or attend a talk on financail planning organised by FISCA.
Motor insurance and claims
This letter is written by a financial adviser who faces difficulty in getting renewal for her client after two accidents.
My view
The current insurer refuses to renew the policy. The association representing the insurance companies asked her to try a list of over 27 insurance companies but all of them declined.
If a financial adviser finds this process to be difficult, you can imagine the trouble that will be faced by a consumer who has to get renewal on his or her own. The consumer may not be a bad driver. It may be just bad luck to have two accidents.
This is another example of the failure of the "free market" system. What can MAS do? In many states in America, there is the concept of the "residual market". If the consumer cannot get insurance, they can place the risk with a specified insurer (managing the residual market) who must accept the risk and share it with all the insurance companies. In some jurisdictions, the motor insurance market is run by the state, to overcome this difficulty.
Tan Kin Lian
My view
The current insurer refuses to renew the policy. The association representing the insurance companies asked her to try a list of over 27 insurance companies but all of them declined.
If a financial adviser finds this process to be difficult, you can imagine the trouble that will be faced by a consumer who has to get renewal on his or her own. The consumer may not be a bad driver. It may be just bad luck to have two accidents.
This is another example of the failure of the "free market" system. What can MAS do? In many states in America, there is the concept of the "residual market". If the consumer cannot get insurance, they can place the risk with a specified insurer (managing the residual market) who must accept the risk and share it with all the insurance companies. In some jurisdictions, the motor insurance market is run by the state, to overcome this difficulty.
Tan Kin Lian
FAQ - Shield insurance
This article contains some tips on how to decide on Medishield or a private Shield plan.
Youth Olympic Games
Here are two views:
http://singaporemind.blogspot.com/2010/07/why-yog-will-be-big-success.html
http://theonlinecitizen.com/2010/07/yog-%e2%80%93-another-farce/
My views
It is important for Singapore that the YOG be a success. It is better for the success to be spontaneous and spark the enthusiasm of the youths, but if this is not the case, we should still make it a success through other means, including buying the tickets for the schools.
Anyway, the activities of the YOG will flow back into the economy and benefit the local businesses in many ways, as a large portion of the money spent (I believe) is kept within the domestic economy.
http://singaporemind.blogspot.com/2010/07/why-yog-will-be-big-success.html
http://theonlinecitizen.com/2010/07/yog-%e2%80%93-another-farce/
My views
It is important for Singapore that the YOG be a success. It is better for the success to be spontaneous and spark the enthusiasm of the youths, but if this is not the case, we should still make it a success through other means, including buying the tickets for the schools.
Anyway, the activities of the YOG will flow back into the economy and benefit the local businesses in many ways, as a large portion of the money spent (I believe) is kept within the domestic economy.
Consultants and failed projects
Why are organisations paying a lot of money to consultants who delivered failed projects? Read this article for the answer.
My observation
I hear of government agencies and business organisations spending several tens of millions of dollars by engaging consultants, especially on IT mega-projects. Often, the projects do not produce the payback. But, it seems to be quite fashionable for these organisations to spend big bucks. They are able to get their money back by raising fees and charges on the consumers. This results in the high cost of living in Singapore.
My observation
I hear of government agencies and business organisations spending several tens of millions of dollars by engaging consultants, especially on IT mega-projects. Often, the projects do not produce the payback. But, it seems to be quite fashionable for these organisations to spend big bucks. They are able to get their money back by raising fees and charges on the consumers. This results in the high cost of living in Singapore.
Private tuition and unemployed professionals
Read this article.
My observation
It contain good news that the unemployed professionals are able to earn an income through private tuition.
My observation
It contain good news that the unemployed professionals are able to earn an income through private tuition.
Wall Street Journal: 1937 vs 2010
Read this article.
My observation
The chart suggest that the stockmarket may be headed for a steep fall, if 2010 follows 1937. The extent of the fall is another 35%. Is this likely to happen?
I belong to the pessimistic group - and believe that a second dip is likely to happen. The government debts ins Europe, USA, Japan and other countries is serious and needs to be corrected. We can muddle along with government stimulus and low interest rate, but it will create problems, i.e. asset bubbles,
Read this article by Nobel Prize winner, Paul Krugman. I agree with his view on most matters, including this assessment. He speaks plainly and honestly. Listen to him.
My observation
The chart suggest that the stockmarket may be headed for a steep fall, if 2010 follows 1937. The extent of the fall is another 35%. Is this likely to happen?
I belong to the pessimistic group - and believe that a second dip is likely to happen. The government debts ins Europe, USA, Japan and other countries is serious and needs to be corrected. We can muddle along with government stimulus and low interest rate, but it will create problems, i.e. asset bubbles,
Read this article by Nobel Prize winner, Paul Krugman. I agree with his view on most matters, including this assessment. He speaks plainly and honestly. Listen to him.
Views of young people
Here are some views of your young people, in response to the survey
1. Leaders should engage their people more. PMETs may have good ideas which may be implemented to benefit everyone, such as education, transport and work-life balance. Show us believable statistics instead of numbers made from thin air.
2. Life looks bleak for me, so I won't marry or have children. I don't even know I can survive in five years time, most probably would get retrenched or replaced by foreigners.
3. Politicians tend to avoid recessions to remain in power. We should have gone into a healthier recession instead of opening the floodgates to foreigners to boost GDP numbers. I feel betrayed by the government and I am suffering from overcrowding and higher costs of living.
4. Nurses still can get a job, not much of a problem here.
5. No bonding left with Singapore. The PAP and system has shown me the truth -- You die your business. Whatever emotional ties I had with S'pore had been mercilessly cut during 2 years of slogging NS being tekaned while my foreigner classmates happily enjoy their 3-month holidays after A-levels and then straightaway go into NUS / NTU / SMU on subsidised school fees or even free scholarships. Plus seeing my 40+ and 50+ year-old relatives getting retrenched and having to take on $1K or $1.2K jobs even though they have polytechnic diplomas or many years of practical experience and know-how.
The Singapore system has only succeeded in turning all of us into self-centred bastards. Those who enjoy the privileges of the elite-class will want to stay on and lord it over the masses, squeezing them for more GDP growth. Those who are not elites just end-up fighting each other for scraps of garbage in order to survive. Those who can get off this god-forsaken mudhole will do so without remorse or hesitation. It is truly You Die Your Business!!
6. This country disadvantages it citizens in the mindless pursuit of ever increasing GDP. How that GDP benefits locals is any one's guess, as the GINI coefficient seems to be ever widening.
7. Please provide more options.
My job pays quite well - Strongly DISAGREE
My pay is adequate for the cost of living - Strongly DISAGREE
I find the HDB flat to be affordable - Strongly DISAGREE
8. It is one thing to be proud of our country and be disgusted at your government.
1. Leaders should engage their people more. PMETs may have good ideas which may be implemented to benefit everyone, such as education, transport and work-life balance. Show us believable statistics instead of numbers made from thin air.
2. Life looks bleak for me, so I won't marry or have children. I don't even know I can survive in five years time, most probably would get retrenched or replaced by foreigners.
3. Politicians tend to avoid recessions to remain in power. We should have gone into a healthier recession instead of opening the floodgates to foreigners to boost GDP numbers. I feel betrayed by the government and I am suffering from overcrowding and higher costs of living.
4. Nurses still can get a job, not much of a problem here.
5. No bonding left with Singapore. The PAP and system has shown me the truth -- You die your business. Whatever emotional ties I had with S'pore had been mercilessly cut during 2 years of slogging NS being tekaned while my foreigner classmates happily enjoy their 3-month holidays after A-levels and then straightaway go into NUS / NTU / SMU on subsidised school fees or even free scholarships. Plus seeing my 40+ and 50+ year-old relatives getting retrenched and having to take on $1K or $1.2K jobs even though they have polytechnic diplomas or many years of practical experience and know-how.
The Singapore system has only succeeded in turning all of us into self-centred bastards. Those who enjoy the privileges of the elite-class will want to stay on and lord it over the masses, squeezing them for more GDP growth. Those who are not elites just end-up fighting each other for scraps of garbage in order to survive. Those who can get off this god-forsaken mudhole will do so without remorse or hesitation. It is truly You Die Your Business!!
6. This country disadvantages it citizens in the mindless pursuit of ever increasing GDP. How that GDP benefits locals is any one's guess, as the GINI coefficient seems to be ever widening.
7. Please provide more options.
My job pays quite well - Strongly DISAGREE
My pay is adequate for the cost of living - Strongly DISAGREE
I find the HDB flat to be affordable - Strongly DISAGREE
8. It is one thing to be proud of our country and be disgusted at your government.
Temasek Investment Results
Mr. Tan,
Did you read the article about Temasek's investment returns in the Straits Times? A similar article appeared in the Asian Wall Street Journal - same information but completing different view - a more neutral view. Would be good to have our comments in your blog.
REPLY
I read the Straits Times report with some a pinch of salt. A large part of the investment gains came from the recovery of the global stockmarkets, and more specifically, the Singapore market, where Temasek held a large stake. I do recall that is fact was mentioned, but it was hidden amidst the overwhelming praises of good performance.
My personal investments also recovered significantly, and I did precisely NOTHING.
Did you read the article about Temasek's investment returns in the Straits Times? A similar article appeared in the Asian Wall Street Journal - same information but completing different view - a more neutral view. Would be good to have our comments in your blog.
REPLY
I read the Straits Times report with some a pinch of salt. A large part of the investment gains came from the recovery of the global stockmarkets, and more specifically, the Singapore market, where Temasek held a large stake. I do recall that is fact was mentioned, but it was hidden amidst the overwhelming praises of good performance.
My personal investments also recovered significantly, and I did precisely NOTHING.
Paul the Octopus
Paul the Octupus is famous for predicting correctly the results of the World Cup matches between Germany and other countries. Here is his next prediction.
Poor Paul. Now, he cannot get asylum in Singapore!
But, we have Mani, the parrot.
Poor Paul. Now, he cannot get asylum in Singapore!
But, we have Mani, the parrot.
How does believing we are souls help us in our daily lives?
Extract from book, Wisdom on how to live life - Dr. Tommy Wong
Tom: So by believing that we are souls, how will that help us in our daily lives?
Guru: We can see everyone as souls rather than bodies.
Tom: Okay, then?
Guru: We don’t differentiate ourselves with others by the differences in our bodies.
Tom: You mean we don’t differentiate ourselves by different races.
Guru: Right, there’s only one race and that’s the human race.
Tom: No more “us and them”.
Guru: We see everyone as souls, and we’re all the same.
Tom: We look for sameness rather than differences.
Guru: Yes, it’s like we’re all air and there is only one air covering the entire Earth.
Tom: We are all one.
Guru: We’re all connected so we look for cooperation rather than competition.
Tom: Your gain is my gain, and your loss is my loss.
Guru: We look for win-win solutions rather than “I win and you lose” scenarios.
Tom: So we’re all winners.
Guru: Wouldn’t life be better this way?
Tom: Better? It’ll be heaven on Earth.
The book, Wisdom on How to Live Life can be bought here.
Tom: So by believing that we are souls, how will that help us in our daily lives?
Guru: We can see everyone as souls rather than bodies.
Tom: Okay, then?
Guru: We don’t differentiate ourselves with others by the differences in our bodies.
Tom: You mean we don’t differentiate ourselves by different races.
Guru: Right, there’s only one race and that’s the human race.
Tom: No more “us and them”.
Guru: We see everyone as souls, and we’re all the same.
Tom: We look for sameness rather than differences.
Guru: Yes, it’s like we’re all air and there is only one air covering the entire Earth.
Tom: We are all one.
Guru: We’re all connected so we look for cooperation rather than competition.
Tom: Your gain is my gain, and your loss is my loss.
Guru: We look for win-win solutions rather than “I win and you lose” scenarios.
Tom: So we’re all winners.
Guru: Wouldn’t life be better this way?
Tom: Better? It’ll be heaven on Earth.
The book, Wisdom on How to Live Life can be bought here.
Survey - distance based fares
36 people responded to the survey. Here are the results, comparing the new fare (distance based fares) with the previous fare:
This may not give a representative result, as the survey is likely to attract a higher proportion of people who have to pay higher fares.
Tan Kin Lian
- Lower by more than 10% ................. 3.0%
- Lower by 5% to 10% ......................... 6.1%
- Higher by 5% to 10% ......................... 45.5%
- Higher by more than 10% ................... 45.5%
This may not give a representative result, as the survey is likely to attract a higher proportion of people who have to pay higher fares.
Tan Kin Lian
Medical insurance for Parents
Dear Mr Tan,
Both my parents mum 62 and dad 68 are not insured by any hospital cover. Do you think it is still worthwhile for them at this elderly age to buy hospital cover? my dad is healthy and has some monies in the cpf medisave while my mum has been a housewife and has history of high blood pressure and high cholesteral level.
And if in the event it is worthwhile to consider buying, which type of hospital cover do u think wil suffice? eg most basic cpf medishield or buy from private insurers?
REPLY
Try to enrol them for Medishield (from CPF). It covers most of the cost of hospital care in subsidised wards, i.e. B2 and C. It is suitable for elderly people and the premium is much lower than private Shield. If they cannot be accepted, it is all right to be self-insured. If they need medical attention, go to a subsidised wards.
This is covered in Practical Guide on Financial Planning.
Both my parents mum 62 and dad 68 are not insured by any hospital cover. Do you think it is still worthwhile for them at this elderly age to buy hospital cover? my dad is healthy and has some monies in the cpf medisave while my mum has been a housewife and has history of high blood pressure and high cholesteral level.
And if in the event it is worthwhile to consider buying, which type of hospital cover do u think wil suffice? eg most basic cpf medishield or buy from private insurers?
REPLY
Try to enrol them for Medishield (from CPF). It covers most of the cost of hospital care in subsidised wards, i.e. B2 and C. It is suitable for elderly people and the premium is much lower than private Shield. If they cannot be accepted, it is all right to be self-insured. If they need medical attention, go to a subsidised wards.
This is covered in Practical Guide on Financial Planning.
Young people in Singapore
Are young people happy with the situation in Singapore?
Here are the positive sides:
Do you agree with this assessment?
Here are the positive sides:
- they are well educated
- they are able to get jobs quite easily
- they get special attention from the leaders - who make the effort to engage the young, e.g. Youth Olympic Games
Do you agree with this assessment?
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