Singapore has highest concentration of millionaires

Singapore has the highest concentrations of millionaires, amounting to 15.5% of the population, followed by Switzerland and Qatar. Is this due to high property prices? Read this article.

Key financial figures of REITS

Many REITS (real estate investment trusts) give a dividend yield of more than 5%. The rentals are likely to increase over the long term. Even if the rentals drop due to a bad economic situation, the yield will adjust downwards, but will still remain attractive.

I have posted the key financial  figures for some REITS, as provided by a stock broker, in the FISCA website (www.easysearch.sg/fisca). They are available for members only.  Please note that this is just a brief summary - you have to get more details from your stock broker before you decide to buy them.

Tan Kin Lian

Asking for Advice

You have to present the full facts before you ask someone (like me) for advice or assistance. Read this article.

Non-disclosure agreement

Some consumers have a dispute with a financial institution. After lodging the complaint, they are asked to sign a non-disclosure agreement. The consumer does not know what to do, or how to seek advice, as they are afraid to disclose the details of the negotiation to a friend for friendly advice.

When the consumer brings the case to FIDREC, they are also asked to sign a non-disclosure agreement. The consumer faces the same difficulty.

I have written a paper on this matter to guide consumers to how to get advice, after they have signed this agreement. This paper is available to FISCA members only, in the FISCA website (www.easysearch.sg/fisca).

Tan Kin Lian

Shape Quiz competiton - TKL office

You can organise a shape quiz competition.  The shape quiz book and minipak can be ordered here. The handling charge of $3 is waived during the promotion period. (You can also see a view of my office in the video).

The shape quiz is good for children, adults and seniors. It helps to train their mind in creativity and also to keep the mind alert. The book book comes with the puzzle and the solution.  You can also buy the tangram book.

Encouraging developments in Singapore

When PM Lee made the sweeping changes in the cabinet, I shared the views of many other people that the new ministers may not be able to handle the issues that they have to take charge of.

So far, the developments have been encouraging:

• The minister for national development has decided to build 25,000 new flats and over 10,000 rental flats quickly
• The minister for transport is seen taking buses.
• Many ministers are more proactive in getting feedback from the public and responding to them in a positive way.

We may be seeing a new style of governance and political climate in Singapore.

Tan Kin Lian

Interesting places around the world

Watch the power points and images in this website, contributed by Mike Hansford. Mike used to travel around the world when he worked for a reinsurance intermediary. He receives these power points from friends and wishes to share them with other friends.

Village in Holland - Giethoorn

Mike Hansford sent me this powerpoint about a picturesque village in Holland. Enjoy it.

Improve transport in Singapore

Some suggestions for the new Transport Minister

A better transport system

Develop local transport

How to achieve more than 100%

Here are some tips.

Home Report from Street Sine

Before you buy, sell or rent a property, get a home report from Street Sine. See here.

Russian Matryoshka

See:
http://easyapps.sg/ishop2/ProductInfo.aspx?id=39

Order here

Sample property report - useful for owners

Here is a sample property report available from StreetSine for $39. It is useful for a owner who has to decide on the selling or rental price for a private property. See TKL website or Business Mail (advertisements)

Advertise your product in Business Mail

http://easyapps.sg/bm/Frame.aspx?ID=4

Follow TKL Blog

If you give your e-mail address as a Follower of TKL blog (see the Follow tab on the right), you will get an email sent to you daily. This is convenient to be reminder of new items in this blog.

Home Insurance Quotes: An Overview

In the modern times home insurance has become a necessity as it provides a sense of security to people against any damages caused to their property as well as other valuables. Home insurance provides a great means of protecting our homes as well as other belongings from rising incidents of theft, fires, and other natural as well as man-made disasters. The first step toward getting your home insured is to obtain home insurance quotes.

Over the recent years there has been a significant increase in the number of insurance providers, who also offer home insurance. This is mainly due to the fact that an increasing number of people have become aware of the benefits of getting their houses and properties insured and are even willing to pay a significant amount as premium.

With numerous insurance providers offering different types of home insurance policies, getting home insurance quotes has become quite easy. One can either contact an insurance agent or search online for quotes from different companies. However, prior to selecting a home insurance policy, you need to be aware of certain basic facts.

Most home insurance quotes include hidden coverage which is generally unspecified in the quote. The most common types of hidden coverage include structural coverage, personal property coverage and liability coverage. So, it is vital to enquire about the coverage that the insurance provider will be providing under a particular policy.

It is also wise to compare the quotes from different companies and select the one that not only offers maximum coverage but also suits your budget. While home insurance is important, it is wise to choose a package that does not put extreme burden on your pockets. You can also find companies that offer customized home insurance packages as per the specific requirements of the client.

It is also important to be aware of fraudulent companies that might offer cheap home insurance quotes with greater benefits. Many times such companies add various other costs to the premium amount once you have opted for their policy. These costs are often mentioned in extremely small print which most people tend to miss. Therefore, it is vital that you go through each and every word of the insurance quote prior to selecting a particular package. Although many people consider this to be sheer wastage of time, this precaution not only helps you in selecting the best home insurance policy, but also saves your hard earned money.

Campbell Solberg Associates are one of the foremost and reputable insurance agents renowned for their economical, honest and genuine home insurance quotes. For more information on their services you can logon to their website http://www.campbellsolberg.com.

Survey results - contest for elected president

100 people responded to this survey. 65% felt that it is better for more than 1 non-PAP candidates to contest the election. See TKL website

Keeping HDB flats affordable

The new minister for national development, Khaw Boon Wan, is taking the problem of rising HDB prices in earnest. He is building 25,000 new flats andmore than 10,000 rental flats. The strategy to increase supply rapidly, to meet demand, is likely to work to contain prices. If he sells the HDB flats at cost of land and construction, it will help to mitigate the price increase.

I hope that the minister will build more rental flats, which do not need to be subsidised. Give people a choice to rent a flat, rather than to own a flat. It will encourage them to live near their place of work (i.e. easier to move when one rents a flat, rather than own a flat). See my article.

Contribution to Yahoo Finance, May 2011

I contributed 4 articles to Yahoo Finance website in May 2011. These articles are now available for viewing by members of FISCA (www.easysearch.sg/fisca) after login.

FISCA - Perennial China Retail Trust

FISCA has prepared the salient points of this investment. It is available to members on login. Go to www.easysearch.sg/fisca.

Presidential election - Candidate endorsed by PAP

Who do you think is the candidate that will be endorsed by the PAP? Give your views in this survey.
http://www.surveymonkey.com/s/KJ8VRKT

Affordable HDB flats

Suggestion by Pang

Dear Mr. Tan

We could improve the affordability of owning a HDB flat without crashing the prices of existing HDB flats by:

1)      With immediate effect, cut the prices for all new HDB flats by 5% and:
rebate 4% to those who had purchased their flats within 1 year
rebate 3% to those who had purchased their flats within 2 years
rebate 2% to those who had purchased their flats within 3 years
rebate 1% to those who had purchased their flats within 4 years

2)      for the next 5 years (2011 to 2016)
peg the increase of prices for new HDB flats at 3% lower than the increase of the national median income.

For example : if the increase of median income is 5% for that year then the increase of prices for new HDB flats should be 2% for that year. If the increase of national median income is 2% for that year then the prices for new HDB flats should be decreased by 1% for that year.

With 1) & 2), we can achieve the effect of a 20% “reduction” to the prices for new HDB flats within 5 years without crashing the prices for existing HDB flats.   

For the longer term, the increase in prices for the new HBD flats should be pegged to the increase in national median income. 

Pang

Safeguard the reserves

Hi Mr Tan

You probably aware that the presidential election is coming soon.As the qualification criteria are so strigent, not many could fulfill. I am convinced that  you are are suitable candidate who could meet all the criteria.

 

You have championed a lot of causes and spoke up for the depositors who were misled, to a certain extent in the DBS mini bond saga.

 

We need a capable President who could hold the other key to the national reserve. He could perform a proper check and balance The late Mr Ong Teng Cheong spoke up a lot on the national reserves.He might not have a very good ending but had championed a cause and won the respect of Singaporeans.  Presently as tax payers,we do not know how much are our reserves in GIC & CPF Board and how they are being invested.

 

I strongly encourage you to stand for this election. I dont think there are many candidates eligible to participate this round. We should not waste another 7 years  for the next round of election.   

 

Richard Wong  

REPLY

I will decide in a few days' time

 

Salary of elected president

Kit Whye Chan

10:33pm May 28

Can I tell you a story about golf for those who never play golf. When a tournament indicates a very huge prize money for the 1st, 2nd and 3rd winner based on stroke play, this tournament usually attract a lot of "crocodile" players to the tournament. These "crocodile "players have very low handicap, yet they under-declared their handicap to be way above their actual. Some even give it to the maximum of 24. Why? Because they are more interested in winning the prize money and by declaring a high handicapper, they stand a very good chance of beating the normal players and winning the prize money. However, if the prize money is not significant, these "crocodile" players will appear at the tournament. 

Taking this analogy to the Presidential election, I am not sure whether a person is willing to stand for the Presidential election if there is a big drop in the President salary, say to $300K per year instead of $3 million a year. I hope those who want to be a President is not attracted by the current compensation, but really to sacrifice himself for doing a service to Singapore, protect its reserves and voice out opinions that are for the good of the country.

Why men are easy prey for investment scams

Read the article in the Information tab in www.easysearch.sg/fisca.

Contest for Elected President

Is it good for many candidates to contest the Presidential Election. Give your views in this survey.

Survey - Dr. Tan Cheng Bock

100 people responded to this survey on Dr. Tan Cheng Bock's bid for the Elected Presidency. Read the results in TKL website

Enforcement of U.S. Judgments in Ireland | BusinessAndLegal.ie

Unlike procedures laid down under the Brussels I Regulation or Lugano Convention for the enforcement of judgments between EU member states there is no formal procedure in the Rules of the Superior Courts in Ireland for the enforcement of judgements from non EU countries such as the United States.

via businessandlegal.ie

Demonstration of Shape Quiz at Snow City

I am demonstrating the shape quiz puzzle at Snow City on Sunday 29 May from 2.00 to 4.00 pm.

Special 5-book bundle

Enjoy 40% discount on this special 5 book bundle and waiver of the handling charge at i-shop.

Dr. Tan Cheng Bock

Dr. Tan Cheng Bock has expressed an interest to stand for election as President of Singapore. You can read more about him in his blog.

Give your views of Dr. Tan in this survey.

Driver and Co-Driver

Watch this video.

Insurance for laptop

Dear Mr. Tan,
I was offered insurance for my laptop covering the following risk:
* accidental damage
* loss
* theft due to forceful break-in to the home or from locked vehicle.
It seems that if my house or vehicle was not locked and my laptop is not stolen, I cannot claim, but if I report my laptop as lost due to being left behind, I can claim. Why should I report theft (and have the claim rejected) when I could report accidental loss and can make a claim?


REPLY
You need to read carefully the definition of loss, as it is likely that the cover may be confined to certain type of loss and that carelessness may not be covered. I am not familiar with this cover, so I shall post it to get views of other people who have bought this type of policy before.

Downgrade to a 2 room flat

Hi Mr Tan
Due to taking care of one of my family member ( stroke ), I am unable to work as full time employee. My current job is commission based. As can't afford to engage a maid to take care of my family member, I am shoulder the full responsibility.

Regard of how hard I work, I still face financial cash flow problems. The killing part now is I need to service my HDB loan , as all my CPF already dried up , every month I need to pay $1000 CASH to HDB. Now still left $110 000 plus of loan to service.

I bought this 4 rm flat at the price of around $135K in the year 1996. Now able to sell around $400 000. My next owner is my dad but not working due to very old. The other person stay with me is my mom but also not working due to old age. I am single.

Every month is a big headache to me as I need to find $1000 to pay my housing loan. Due to taking care of my family member I know that I sure can!t service my loan with my part time pay. As my saving is going to dry up in 3 months time.

My parents don't like me to rent out my flat as they don't like to stay with strangers. I am thinking of selling off my flat. I am able to profit around $150K but if I want to buy another flat, after calculation, if I am not going to take loan from HDB again, I can ONLY afford to buy a 2 room resale and it will be in places like Jurong area which is far away.

I know it is very silly to downgrade from a 4rm to 2 room flat and further away from town. But the problem is with my part time pay , I totally can't afford to service my loan. If you were in my position, would ou be making such decision like mine? Please post my views in your blog as I like to hear the views of other people as well.

Anthony

Obituary for Common Sense

Read this obituary for Common Sense.

Website - Mortgage sense

Hi Mr Tan,

May I humbly request to have a link in your website? I wish to highlight my business model to you to give you the assurance that your client will be well taken care of.

I been working in the banking industry for 5 years and won numerous awards. The reason for me to start this business consultancy is due to this knowledge gap in the market. In 2009, I decided to leave my company to set up my business. Since day 1, I been giving back to society - every successful closure, I will donate $30 to charity in the name of my client. On top of that, my team has been participating in other charity events like flag day etc. You can visit our website for more details. 

There are more I could share but prefer to do it face to face. I hope you could agree to but a link "home loan singapore"  link to "www.mortgagesense.com.sg". It will definitely help me alot in the grow of my business. 

Warm Regards,
Alan Koh
Director

Get a fair price on your motor insurance

Dear Mr. Tan,
I received a renewal for my motor insurance and am shocked at the increase in premium. I try to call other insurance companies and they also charge more than I paid before. Which company do you recommend?

REPLY
Try Direct Asia. Read this FAQ
You can also read this article on how to pay road tax and get the vehicle inspection done easily.

House Insurance Comparison in Ireland | Home Insurance Ireland

The Financial Regulator in conjunction with the National Consumer Agency did a house insurance comparison in Ireland in February 2011 and their survey is pretty comprehensive and is well worth a look.

The comparison looked at a number of different houses in various parts of Ireland including in Limerick, Dublin, Donegal, Mayo and Kilkenny.

 

Each house was quoted for on the basis of the information supplied which varied in terms of rebuilding cost, contents value, age of home, security locks present or not, smoke alarms fitted, previous claims, alarms fitted and so on.

 

It is worth noting that none of the prices quoted were from insurance brokers but were from leading insurers such as Zurick, Royal Sun Alliance, Allianz, Aviva, Axa, ChartisDirect, Lloyds through Getcover.com, Quinn Direct and FBD.

via homeinsuranceirelandhq.com

Auto Insurance Buyer's Guide

Step 1. Understand What Factors Affect Your Rates

Become an informed insurance consumer. Every insurance company takes a slightly different approach to pricing auto insurance, and that’s why rates vary so much from one company to the next. The basic facts -- who you are, where you live and what you drive -- are used by all insurance companies. Prior claims, traffic tickets, annual mileage, zip code, and even education and occupation will affect your rate. In some states, insurers may use an insurance credit score for rating or underwriting. Lastly, your coverage, deductibles, and the safety features of your cars will contribute to your final rate.

Drivers With No Accidents	VS.	Drivers With 2 or More Accidents
Average rate increase = $1,000

• Discover ways to save

Step 2. Decide How Much to Buy

Choose your coverage with confidence. If you’re already insured, start by comparing rates for the same coverage you have today. If you recently bought a home, but haven’t increased your policy limits, it’s time to think about upping your limits to protect your investment. If you're a renter or simply can’t afford as much coverage as you’d like, minimum limits of liability may be enough for now.

Don’t let your coverage lapse, because insurance is mandatory in almost every state and a lapse in coverage may lead to higher rates in the future.

Top 10 Most Expensive States for Auto Insurance

New Jersey Louisiana New York Florida Massachusetts Rhode Island Delaware Nevada Connecticut Alaska

Source: Insurance Information Institute.

Step 3. Shop Smart and Save

Get fast, free comparisons to make sure you’re not overpaying. Many insurance companies change their rates annually, so it’s a good idea to compare your own rates each year, too. We provide a quick way to check for new rates from well-known auto insurers, each with a wide range of discounts that could save you hundreds – or even thousands on your insurance bill. In fact, our customers report saving over $500 a year on average when they switch companies.

• Electric Insurance Company
• Esurance Insurance Company
• Infinity Auto Insurance Company
• Liberty Mutual Insurance Company
• MetLife Auto Insurance
• QBE Insurance Corporation
• Safeco Insurance Company
• The Hartford
• Travelers Insurance
• Unitrin Direct Insurance Company

• Know and compare carriers

Step 4. Learn How Auto Insurance Really Works

We help you understand the required coverages in your state. And, the optional coverages, too. We calculate your comparison quotes based on the personal information you provide either online or by phone. To get an apples-to-apples comparison, not just an estimate, we ask for detailed facts. The more accurate your info, the more accurate your quote.

It’s fast and it’s free. Once you answer these questions, we give you comparison auto insurance quotes from the most competitive companies we represent. You save time – and find out quickly whether you can save money. Ready to see how much you can save today?

Mobile Home Insurance | Home Insurance Ireland

There are a number of significant exclusions though which we will look at below.

Firstly when looking for the best deal in mobile home insurance you will need some basic information to hand such as

• The model of mobile or caravan
• The serial number
• It’s permanent location
• Whether you let it out for hire or only use it for personal use
• The value of your mobile home/caravan and whether you want personal effects insured.

Most insurers who provide cover for mobile homes will give you a separate policy or you can add it as an extra to your home insurance, for example Allianz offer mobile home insurance as an extra option to their regular house insurance. See also holiday home insurance.

via homeinsuranceirelandhq.com

Survey results - review of ministerial salaries

Here are the views of 97 people to this survey. It also includes their comments and views. TKL website

Holiday Home Insurance | Second Home Insurance | Home Insurance Ireland

Finding good holiday home insurance can be problematic for many Irish people who have a second home either in Ireland or abroad. Many Irish people who bought second homes in countries such as Spain, France, the UK or other overseas locations encounter difficulty in getting decent quotes for their second property.

via homeinsuranceirelandhq.com

Service of Foreign Process in Ireland for Non EU Countries | BusinessAndLegal.ie

The form is in fact in 3 parts-Request, Certificate and Summary. This form is then left in with the Central Office of the High Court and if the Central Authority is satisfied that the Request is in conformance with the Hague Convention then the Central Authority directs service in the manner requested by the applicant.

If there is no specific method of service requested by the applicant the Central Authority will direct personal service on the Defendant.

If the Central Authority is not satisfied with the Request it can set out it’s objections to allow the applicant rectify the matter.

Once service is then effected by the process server he/she returns to the Central Authority with an Affidavit setting out how service was carried out.

via businessandlegal.ie

Survey results - unexpected resignation of ministers

Here are the views of 62 people who participated in the survey on the unexpected resignation of ministers and the sweeping changes in the cabinet. TKL website.

Public transport and commuting

Hi Mr Tan!
I happened to come across an article by Mr Alex Au, and I think you'll agree with him with many points in a new article he wrote recently. It will better support your arguments for living near one's workplace and I'm a keen supporter of this idea along side with you.


http://yawningbread.wordpress.com/2011/05/22/rail-interchange-upgraded-transportation-issue-much-wider-than-that/


Edward


Quote from the Yawning Bread article

It’s also time to rethink the sacred cow of home-ownership. The fact is, people switch jobs. Unless people can easily move to live closer to their new job, any hope of reducing commuter load will not be realised. As economists have known for eons, home ownership is a serious drag on residential mobility. Once committed to a huge purchase, it is very difficult to consider selling and moving. It gets impossible at certain times when prices dip below the historical purchase price of a home; who would want to sell at a loss? Therefore, a high ratio of renters in a population allows greater ease of matching people to jobs.

In any case, as I argued in an earlier article, everyone who is living in public housing today is deluding himself, thinking he “owns” his flat. He does not. What actually is happening is that he has paid 99 years’ rent in advance. In that case, if we’re actually renting anyway, why can’t we pay a month at a time? That allows people to move easily, enabling them a wider choice in the job market. People will naturally choose to live closer to their jobs, thus reducing commuter load.

Unquote

Committee to review ministerial salaries

There is some optimism and more scepticism on the committee formed to review the ministerial salaries. I wish to share my wishes for the outcomes of the deliberation of the committee. TKL website.

You can share your views in this survey.

Websites for learning and information

Get your book on financial planning and life insurance now from iShop.

iShop - enjoy attractive discounts on TKL books
FISCA - read articles on financial planning
Movie Club - join a movie club
Investment Alert - learn about the scams
Transport Club - find better transport to work and home 
Easy Ads  - put an advertisement or search for an advertiser
Family Life  - a game to manage your family life
Financial Plan - prepare your own  financial plan
Business Game - a game to learn the skill of running a business.

Stanford - Entrepreneurial Thought Leader

http://ecorner.stanford.edu/podcasts.html

Review of Minister's salaries

Here is an excellent article by Lucky Tan.  Here are some views of netizens. Another view by Yoong Siew Wah.

You can get a good summary of the current issues at Singapore Social Economic Portal (SGEP)

Be educated on financial matters

Here is a guide for consumers to be educated on financial matter. They have to spend the time and some money to be educated. See Ask Mr. Tan or click here.

Business Mail

I am now using Business Mail to send out e-mails to FISCA members and non-members to inform them about FISCA events. It takes less than 1 minute to send out 850 e-mails. Business organisations who wish to use Business Mail to send out their flyers can contact ceo@tankinlian.com. More details of Business Mail can be found here: http://easyapps.sg/bm/

FISCA Talk - Understanding and applying fundamental analysis in stock investments

There is a new FISCA talk scheduled for Saturday 2 pm on "Understanding and Applying Fundamental Analysis in Stock Investment". It was arranged on popular demand by past attendees at FISCA talk. More details can be found at   http://easyapps.sg/assn/Org/Event.aspx?id=5. This will be preceded  by the AGM of FISCA (to be attended by FISCA members only).

Tag our bags and small children

My family went on an outing to the Blue Mountains outside Sydney. During the trip, my grand daughter Vera lost her favourite bag containing some expensive clothes and toys. This is a picture of the bag.

We realised that she had left her bag behind several hours later. We were 100 km away and it was too far and too late for us to go back to look for it.

I should have placed a tag (with my name and mobile number) on her bag. This would have allowed an honest finder to call the owner by mobile phone.

This tag is also useful to be attached to the pant of a small child who might get lost in crowded stations, ferries or tourist spots. If the child is lost, it is easy for a adult to call the parent.


The next time that I travel with a young child, I would bring along several tags to be used in all the bags and small children. I hope that this tip is useful for you when you travel on a vacation.

Tan Kin Lian

Minimum wage in Sydney

 I spoke to a staff at the restaurant where I had breakfast on Sunday. She is a student from overseas and is allowed to work 20 hours a week. She earns A$15 on weekdays and A$20 on weekends. I calculated that she must have earned A$1,500 a month on the part time work. She said that she has to pay taxes but I was told that the rate of tax is only 10% at her salary level (revised).

This is a good income for part time work. Many students are able to earn an income to pay for their education fees and also to have money to spend. They are hard working and provide courteous and good service. The high wage results in higher prices paid by consumers, but as the customers also earn a high income, they find the prices to be affordable.

The tourists may find the prices to be high, but this is also contributed by the high exchange rate. If the country is too costly and uncompetitive, the exchange rate can come down and the competitiveness can be restored.

A minimum wage ensures that all workers can earn an adequate income and have a good standard of living. It reduces the gap between the high and low income earners in the country. It is likely that a high wage country will have lower prices for their properties, relative to the income level - so the consumer prices may not increase as much as the wages.

I find that Australian system, with a high minimum wage and control over the number of hours that can be worked (e.g. by students) to be better in distributing the work opportunities to those who are willing to work. I believe that a minimum wage helps to make a better society - which is why many countries decide to have a minimum wage.

Singapore is one of the few advanced countries that does not have a minimum wage. Although we have the workfare income supplement, I think that the minimum wage system works better.

Tan Kin Lian

Fun Sunday - concession price one day pass

My family went on a tour of Sydney on a Fun Sunday ticket. It is a one day travel pass on trains and buses and can be bought for a concession price of A$2.50. We took the ferry from Darling Harbour to Circular Quay and another ferry to Manly and back and a train back to our apartment. The normal fare for these trips would have been A$15. The concession price is really attractive. Many families went on an outing on this Sunday to use the concession tickets. I do not know what role the government played to encourage this type of useful social activity - but I suspect that some leadership from the government is required to make this happen. A lesson for Singapore?

Free shuttle bus in Sydney

There is a free shuttle bus that operates in the Sydney CBD,. It runs on a route of about 3 km and takes passengers along George Street and Elizabeth Street between Circular Quay and Central Station. It connects the main railway stations in the CBD.

The service is free. This is useful for visitors who do not know where to buy the pre-paid bus tickets. It is used by the locals and the visitors and runs quite frequently on weekdays. It is well used but not crowded. I am able to get a seat on all of my trips.

Who funds the free shuttle service? It is the government, i.e. the taxpayers. There is nothing wrong about spending tax payers money to provide a free shuttle bus. The state has to pay the salaries of policemen and other public officers. A free shuttle service is just one of the public services that are well appreciated.

Singapore can learn from the experience of other cities and provide free shuttle service to bring people from their homes to the MRT stations and bus terminals. This will encourage more people to travel by public transport, instead of using their cars on congested roads and packing the parking lots.

Remember and compare - Goh Keng Swee

I received this message that was purported to be sent by Mrs. Goh Keng Swee.  I knew of Dr. Goh's circumstances after his retirement and stroke and can confirm personally that these facts are true. Tan Kin Lian.


What never? Goh Keng Swee after he completely retired from public service, had no driver but was always driven around by his wife. Whenever he went to SGH for medical treatment, his wife and he were often denied a reserved parking lot and was told that the lots were for VIP only.  Once when he was warded, his wife had to be given a lecture by a sister on the proper use of a syringe when she asked the staff nurse to use a $1.25 syringe for cleaning
him. Whenever he was warded in SGH, his wife was with him throughout his stay, very often acting like his nurse. All this while she slept on a sofa/recliner chair in the room at night. 
 
When a Singapore GLC (set up by GKS) learnt that he was living on a net monthly income of S$8500/- per month, offered a cheque for S$500K to his wife under the guise of a lump sum loyalty payment for a book they wrote on him, his wife instantly cancelled the cheque and wrote to the CEO  to thank him for his kind gesture, and explained that she couldn't receive the cheque because what her husband had done for the company was not for money, not for power, not for glory, or even to be honoured, but for Singapore and Singaporeans. 
 
Maybe Goh Keng Swee's official status cannot be compared to any Head of State, but his contributions to his country are just as sincere and honest as that of any honest and caring political leader.    

Axa Home Insurance | Home Insurance Ireland

As with all insurance policies you will want to check your policy document closely as notwithstanding the attractive features mentioned above in both the home and contents policies extras that you may choose to buy include accidental damage cover, personal effects cover and personal injury. See also home insurance Ireland and house insurance quotes in Ireland.

If you shop around you will find that accidental damage cover is included as standard in many policies from FBD, Bank of Ireland, AA, Quinn and others so the advice is to always compare like with like to compare properly.

Axa also insure holiday homes, investment properties, homes during construction and fine art collections for the luckier members of society who have such collections.

via homeinsuranceirelandhq.com

Why housing prices will fall

http://singaporemind.blogspot.com/2011/05/why-property-prices-will-fall-soon.html

Survey - PM Lee has to share the blame

57 people responded to this survey in two days. They are generally negative about PM Lee although 50% felt that he is the best person to make the required changes. Read the results here.

No more blank cheques for the PAP

Tan Cheng Bock's speech

House Insurance Quotes Ireland | Home Insurance Ireland

This allows you to compare quotes without the hassle of a hard talking salesperson trying to pressurize you into buying their companies products and you can always come back to your research if you are disturbed of have to do something else by simply saving your quotes in a file on your computer.

When comparing quotes ensure that you are comparing like with like and that if you are getting a quotation from one company which includes contents insurance check that the comparators also include contents insurance. See also home insurance Ireland and Axa home insurance.

 

Working out the most competitive rates can be tricky because many insurance companies offer incentives to deal with them. When comparing quotes bear in mind some key terms such as accidental damage which provides cover for damage to contents in your home as a result of an accident. Accidental damage would be standard with most home insurance policies but check out the offers carefully and read the small print because accidental damage is actually an option with NoNonsense.ie and not standard.

 

In fact NoNonsense builds it’s model of pricing on you purchasing the precise cover you want with many options costing extra such as accidental damage, theft of garden items and all risks cover which would be included with the standard home insurance cover provided by other companies such as Bank of Ireland and the AA.

 

Aviva house insurance includes extra cover at Christmas and family weddings and visitors’ belongings and many companies provide a “new for old” feature in their contents insurance which means that they will provide for the replacement of old property stolen with new versions.

via homeinsuranceirelandhq.com

Home Insurance Ireland

Whether you are looking for mobile or holiday home insurance for your property you should do a little research online first and get a range of quotes because it will pay off in the end with a competitive insurance quotation.

When you are carrying out your comparison we would recommend that you keep a note pad and pencil handy and write down all of the quotes you get from the companies involved. The reason for this is that you can discuss the quotations with your partner without the distraction of the many gimmicks offered by the insurance companies.

A cursory glance at the websites of Axa, Allianz, AIB and others will show you that there are many incentives on offer ranging from online discounts (10% on Allianz) to competitions for a free IPod Touch to special offers on your car insurance. These offers and discount can be distracting so when you check your note book later on you can assess the best household insurance deal for you and your family without a lot of gimmicks cluttering your mind. Read house insurance quotes also.

Most insurance companies provide you with quotes online and 123.ie promise to give you one within 2 minutes.

via homeinsuranceirelandhq.com

President Harry Truman

President Harry Truman epitomizes what public service should be. This is a lesson politicians in Singapore. TKL website.

More about President Truman here.

The Fair Deal by President Truman.

Car Pool website

This website promotes car pooling and a green environment in Singapore. Read this guide.

Two camps in PAP?

http://yoursdp.org/index.php/news/singapore/4837-radical-change-or-forced-circumstance

What are your views about the sweeping changes? Give them in this survey.

Mio TV by SingTel

If you have subscribed to Mio TV by SingTel, take part in this survey to share your experience.

Housing price conundrum

This video provides an explanation on why the housing prices went up a lot in America before it fell. It may happen in Singapore.

Khanacademy - learn for free

Watch & Practice. Learn almost anything—for free.

What started out as Sal making a few algebra videos for his cousins has grown to over 2,100 videos and 100 self-paced exercises and assessments covering everything from arithmetic to physics, finance and history.  

This link is very good!

 

You can learn almost anything .... for free

 

http://www.khanacademy.org/

 

Rent or buy a home?

Is it better to rent or buy a home? Watch this video for an explanation of the factors that you need to consider. Please note that the situation in America is different from Singapore, so you have to do a separate calculation in Singapore to get the economics right. Here are some important differences:

• Interest rates are different between the two countries
• There is no deduction for mortgage interest from income tax in Singapore

But, the general conclusion applies. At the high level of prices of properties, it is better to rent rather than to buy a property. People overpay for their property in the hope that the property will continue to appreciate in price, but up to a point, the price is too high and will fall. This is what has happened in America and is likely to happen in Singapore as well.

Legal Document Software

Legal document software provides law firms and businesses with ready to go legal documents and on many occasions it will be necessary to run your documents past a legal advisor to ensure that you are not leaving any hostages to fortune from a legal perspective.

But many law firms and businesses can benefit greatly from the prudent use of legal document software to reduce their costs and increase efficiency in either a legal or business environment.

For any attorney document management should form a major part of the ongoing business and procedural processes of the professional law office. Management software therefore should be one area of expenditure where you need to buy the best case management and document management software you can afford.

via legaldocumentsoftware.org

Buying a HDB flat (part 2)

This article is available for members at the FISCA website, www.easysearch.sg/fisca

Wine at inflated prices

Here is an example of a potential scam ....
http://www.easyapps.sg/assn/Org/Default.aspx?id=8
Login as a member (membership is free) to view the details.

PM Lee has to share the blame

Here is a view of a small man to the changes in the sweeping changes in the cabinet. He pointed out that PM Lee also had to share the blame for the failings during the past years. TKL website

You now have the chance to express your small man's view in this survey.

My views on the new cabinet lineup

The new cabinet line-up signals clearly that there will be significant changes in the political landscape in Singapore. Will it be for the better or for the worse? Here are some observations:

• In spite of being unhappy over many government policies, 60% of the voters voted for PAP and stability. The sweeping changes in the cabinet line-up cannot be seen as representing stability. Are these voters being given what they were expecting?
• The underlying problem is that, in the past, the government made its decisions behind closed doors using inputs by a small group of elites. This system needs to be changed for new policies and approaches to be produced. 

 We need a new system of governance based on the following:

• Inputs from a broad group of knowledgeable people (outside of the elites and scholars)
• Active discussion in Parliament - and MPs have to spend more time in this duty
• An active media to bring up the issues.

I will be writing more on this topic later.

Tan Kin Lian

CPF Money

A reader of my blog sent this question to me. His spouse passed away and he submitted proof of death the CPF Board. The Board said that the CPF money would be paid to the nominees named by the deceased spouse, but refused to tell who were the nominees. The husband did not receive the money. He checked with his mother-in-law, i.e. the mother of the deceased spouse, and she said that she did not receive the money. The husband asked me - how can he check on whether the money was paid to anybody at all? Could it be possible for the money to be taken away by someone else?

I advised him to write to the Minister for Manpower (who is in charge of CPF matters) and also to see his Member of Parliament. The Government should be aware about this type of problem which arises from the way that matters are being done in Singapore. Why has this type of matter be handled in secrecy? What about transparency and accountability?

Tan Kin Lian

New cabinet lineup in Singapore

For a good summary of views from various sources, read SGEP

Debt Problems and Bankruptcy Procedure In Ireland | BusinessAndLegal.ie

In the article below you can read about the bankruptcy procedure, the consequences of bankruptcy and other bankruptcy information surrounding the bankruptcy procedure in Ireland.

 

Debt problems can have negative long term consequences and will lead to further difficulties in obtaining finance in the future because of a bad credit report. But whether you are trying to carry out a debt collection or whether you are the creditor being pursued the article below will set out the debt collection procedure in Ireland today.

Debt collection Ireland

The small claims court might be the most appropriate forum for you if the amount of debt is small and you can read about the small claims court procedure in the article below.

Small claims court Ireland-the small claims procedure

Foreign judgments-how to enforce them

Help with credit card debt is a huge growth area with many people simply unable to pay their credit card debt having lost jobs, pay cuts, loss of bonuses and overtime etc. If you find yourself in this position you should alert the bank early and try to negotiate your credit card debt with the lending institution.

Consolidating your credit card debts and coming to an arrangement with the banks combined with a change in lifestyle will be necessary if you are to settle your credit card debt.

Registering a judgment mortgage

Judgment mortgage

The Civil Summons procedure

A New Beginning in Ireland-The Saviour of Hard Pressed Home Owners?

Bankruptcy Ireland-Bankruptcies In Ireland

Debt Collection In Ireland-Debt Collections

How To Enforce A Foreign Judgment In Ireland

The Civil Summons Procedure in Ireland

The Small Claims Court in Ireland

Enforcement of judgments in the District Court

How to make a debtor bankrupt

Consequences of bankruptcy

For a detailed look at bankruptcy in Ireland

via businessandlegal.ie

George Yeo's legacy

http://mrwangsaysso.blogspot.com/2011/05/george-yeo-and-his-true-legacy-for.html

FISCA membership fees

Some people apply to join FISCA and were not aware that there is an annual membership fee of $36. If they wish to resign from FISCA now, they should login, go to the Profile tab, and click on "resign as member". The membership fee of $36 will be waived. After resignation, they will not be able to login as a member and read the "evaluation of products" and other articles that are reserved for members.

FISCA - buying insurance prudently

An article on buying insurance prudently has been posted in the member's section of FISCA (www.easysearch.sg/fisca). It is available only to members, after login.

Silver - safe haven asset

Silver, a safe haven asset, plummeted 28% in a week. This is the danger of chasing any asset bubble. When an asset price goes up too high, above its real value, it is in danger of a large fall. This may happen to property prices as well.

Law Office Software

There are many types of legal office software available on the market and our intention is to build our resource to the point where all leading law office software suppliers are represented on these pages with our unbiased, objective opinion of their various software offerings for the modern legal practice.

It is our goal to review the best selling law office management software packages as the efficient and cost effective management of a modern legal practice, whether a sole practitioner, mid size legal firm or a large law firm needs all the help that modern technology can bring.

Law Office Billing Software

Law office time and billing software is essential to ensure that all the resources in your law firm, both human and technology resources, are working towards a common goal of the most efficient use of time and money spent with a commensurate and timely return from clients.

Law Firm Software

There are many software packages available on the market to make life easier and more productive and profitable for the busy legal practitioner and such products include family law software, immigration law software, bankruptcy law software and many other packages, all of which we intend looking at in greater detail-law firm software.

via lawofficesoftware.org

GE2011 - reflection by Wong Wee Nam

http://www.sgpolitics.net/?p=6851#more-6851

The general election 2011 - views of Catherine Lim

Read this interesting analysis by Catherine Lim

Article 2
http://catherinelim.sg/2011/05/14/after-ge-2011-some-crystal-ball-gazing
Article 1
http://catherinelim.sg/2011/05/09/how-ge-2011-proved-me-oh-so-wonderfully-wrong/

Survey - LKY and GCT leaves cabinets

Here are what Singaporeans feel about their decision to leave the cabinet. 90 respondents participated in this survey within 20 hours. Direct link.

Singapore General Election - view from Australia

A Singaporean who has worked several years in Australia gave this view about the Singapore general election. TKL website

Public transport - that sinking feeling

Sent to me by a reader

A recent Frost & Sullivan Journey Experience Index showed nearly 8 in 10 Singaporean commuters dissatisfied. And that Singapore ranked 18th out of 23 cities surveyed.  It is one notch behind Tokyo!

http://www.themalaysianinsider.com/world/article/singapore-survey-shows-nearly-8-in-10-public-transport-commuters-dissatisfied/

In 2007, our own LTA's survey showed 8 in 10 commuters satisfied with our public tranort.

http://app.lta.gov.sg/corp_press_content.asp?start=1757

A bad investment linked policy (Vista)

The policyholder was not told about the high management fees and the heavy penalty on early termination of the plan. This fact become apparently only after 18 months. A few policyholders have been caught in this type of trap. The adviser did not disclose the actual structure, which was quite complicated. Read the facts here and avoiding falling in this type of trap with complicated investment linked policies. Ask Mr. Tan

Survey - Open letter to the Prime Minister

Here are the views of 30 people who responded to Tan Kin Lian's open letter to the Prime Minister. TKL website.

Personal rapid transport (PRT)

The PRT is a concept that has been discussed for several decades. With the advance of computer technology and the emphasis on green energy, this concept is now right for implementation. Read this article.

Survey: LKY and GCT to leave cabinet

How do you feel about their decision to leave the cabinet? Survey.

Transparency of Government

A Singaporean, who has migrated to Australia and continued to visit Singapore regularly, made this observation about transparency of Government.
In Australia, there is a free media that is willing to criticize government decisions that they consider to be bad. The academics, i.e. university professors, are also willing to argue the issues independently.The ministers had to go on television and radio to defend their policies against critics.
He observed that some of the statements made by ministers in Singapore would never survive the debate in Australia.
He made research on certain issues and found it difficult to get the relevant statistics in Singapore. In Australia,t he statistics are produced by an independent agency, are available at a detailed level and are not controlled by the government. The quality of the statistics are much better than in Singapore.
When he first migrated to Australia, he felt that Australia would give a better future for his family. After 40 years, he still felt the same, although the conditions in the two countries had changed considerably. He like the openness, transparency and accountability found in Australia.
Tan Kin Lian

Do you hear the people sing?

This song, taken from Les Miserables, echoes the anger of a people who suffers for the unfairness and hardship of life. Does it apply to Singapore?
http://blog.dk.sg/2011/05/06/do-you-hear-the-people-sing-singing-a-song-of-angry-men/

A local song for our dear leaders

http://www.sammyboy.com/showthread.php?93068-LATEST-LOCAL-Song-For-Our-DEAR-LEADERS.-Si-Beh-Ho...Must-Watch!!!!

Stagnant wages

A Singaporean who migrated to Australia 40 years ago told me this story. In 1987, he saw an advertisement in a shop in Toa Payoh for an assistant, that offered a salary of $1,200 a month. He proudly told his friends in Australia that Singapore was making good progress and the salaries would soon catch up with Australia. But, the situation did not improve as expected.
Instead of going up, salaries had remained stagnant (and had actually declined) over the past 25 years. If Singapore had made progress, the salary for a shop assistant should be  $3,000 today - allowing for the change in cost of living. Instead of improving, the wages had stagnated. Many Singaporeans are being squeezed by the rising cost of living and stagnant wages.
Tan Kin Lian