Friday, January 7, 2011

World Richest Governments

Singapore government is the 11th richest n the world. It is richer than many countries with larger populations.
http://tankinlian.com/admin/file.aspx?id=355

Website for professional fees

Published in the Straits Times Forum page on 8 Jan 2011


I refer to the letter from Chan Ban Choon entitled “provide guidelines on lawyers’ fees (ST 4 Jan 2011). Mr. Chan complained that several lawyers have quoted fees varying from $500 to $7,000 for a standard tenancy agreement. He suggested that the law society or relevant government bodies should set guidelines of fees for standard work.


I recall a similar situation a few months ago where the Competition Commission had instructed the medical association to remove their guidelines for medical fees on the grounds that free competition will bring down fees to benefit consumers.


It now seems that consumers are not benefiting from the competitive environment and that professional fees are going up. It is difficult for consumers to know the market rate of fee for a piece of work and to go around asking for quotations.


I suggest that the Competition Commission should set up a website (or outsource the work to an authorised party) to allow professional firms to post their fees for standard types of work This will make it easy for consumers to view the postings, select a professional for the work and negotiate the fees.
This approach is likely to achieve the aim of the competition law to bring down professional fees for the benefit of consumers.


Tan Kin Lian

Windows Phone 7 applications

Update: an article on these applications appeared in Shin Ming papers

I have created new videos of these 4 applications that are now available on Windows Marketplace (to run on the Windows Phone 7). They will be made available on iPhone in a few weeks time:

Entrepreneur

4D Simulator

One in a Million

Toto Luck

Telephone sales of general insurance

Hi Mr Tan, 
What is your view on the practice of insurance company/bank selling general insurance via the phone ? How can consumer decide if an insurance plan is suitable for him/her in that 5 min phone call?

Personally I feel that it might not be fair to push up General insurance via phone, they should be more transparent and provide email information on the plan. Most of the time they would say this plan is an exclusive plan to you and there is no write up on it. I think it would be more fair to consumer to get more information before deciding on the plan, than to accept and exercise the free-look. 

REPLY
I agree with your views that an insurance policy should not be sold over the telehpone in 5 mins without providing sufficient information to the customer.

SGEP - Singapore General Election Portal

Read a collection of interesting articles from blogs and the media in this portal. The editor will also write an "editorial" every few days. www.easyapps.sg/sgep