Tuesday, March 1, 2011
Direct Asia - cheaper premium rate
http://www.directasia.com/onlineinsurance/insurance-online.aspx
Check above site for low cost general insurance quotes. They appear to be extremely low cost ($650 for my Suziki Grand Vitarra versus present nett of $937 paid to Income) but I do not have any clue whatsoever on their reliability, background, credibility etc.
Albert
My views
Direct Asia is likely to handle their motor insurance claims as well as any other good insurance company. I expect that their claim handling to be better than average, as they are likely to pay more attention to this line of business and will want to build a good reputation.
Law firm advising a land banking company
Dear Mr. Tan
I am in touch with a few investors who bought land plots from a certain land banking company. The company has since been raided by CAD and they have stopped their operations in Singapore. We have lost our investments entirely. This company was advised by a top legal firm in Singapore. Is it possible for the investors to lodge a complaint to the government or the law society against this law firm for abetting the land banking company to carry out a fraud?
REPLY
If there are sufficient investors who are willing to come forward, they can lodge a complaint against this law firm. If any investor is willing to join this complaint, please give your particulars here.
I am in touch with a few investors who bought land plots from a certain land banking company. The company has since been raided by CAD and they have stopped their operations in Singapore. We have lost our investments entirely. This company was advised by a top legal firm in Singapore. Is it possible for the investors to lodge a complaint to the government or the law society against this law firm for abetting the land banking company to carry out a fraud?
REPLY
If there are sufficient investors who are willing to come forward, they can lodge a complaint against this law firm. If any investor is willing to join this complaint, please give your particulars here.
Land banking
Hello Mr. Tan
You gave some excellent coverage on UK land banking scams in the past. While such scams no longer seem to be allowed to be promoted in mainstream media advertising in Singapore they are still alive and well. The companies have switched to promoting themselves on jobsites and other unregulated blogs. There are also still cold calls with invitations to attend no obligation events in plush hotels with free gifts. Some companies are even applying for planning permission on UK green belt land plots. Such an application will cost around S$20,000 and might take two years to be rejected including appeals. The application is used as "proof" that the planning approval is "almost there" by unscrupulous sales people.
In order to counter the flurry of pro landbanking blog postings perhaps you could share this list of links with your readers highlighting recent scam awareness activities from the UK related to land investments and land banking.
Man loses £85,000 to land banking scam
http://www.ulstergazette.co.uk/articles/news/19461/scam-robs-man-of-his-85-000-lifes-saving/
Land Banking Scams still conning investors
http://www.farminguk.com/news/Landbanking-scams-still-conning-investors_19943.html
UK national fraud investigation bureau
http://www.nfib.police.uk/nfib-enewsletter-february-2011.html
"Land banking fraud is when people are conned into buying UK land thinking it will significantly increase in value. Sometimes the valuation of the land on offer is much lower than the quoted price, and sometimes the land being sold does not even exist."
http://www.nidirect.gov.uk/news-feb11-be-alert-to-land-for-sale-scam
Some unscrupulous sellers have made millions of pounds by duping people into buying unsuitable plots of land at vastly inflated prices. The sellers persuade them that the land has potential to be sold at a profit to developers looking to build houses. In reality the land may be totally unsuitable for housing and has little hope of ever getting planning permission.
You gave some excellent coverage on UK land banking scams in the past. While such scams no longer seem to be allowed to be promoted in mainstream media advertising in Singapore they are still alive and well. The companies have switched to promoting themselves on jobsites and other unregulated blogs. There are also still cold calls with invitations to attend no obligation events in plush hotels with free gifts. Some companies are even applying for planning permission on UK green belt land plots. Such an application will cost around S$20,000 and might take two years to be rejected including appeals. The application is used as "proof" that the planning approval is "almost there" by unscrupulous sales people.
In order to counter the flurry of pro landbanking blog postings perhaps you could share this list of links with your readers highlighting recent scam awareness activities from the UK related to land investments and land banking.
Man loses £85,000 to land banking scam
http://www.ulstergazette.co.uk/articles/news/19461/scam-robs-man-of-his-85-000-lifes-saving/
Land Banking Scams still conning investors
http://www.farminguk.com/news/Landbanking-scams-still-conning-investors_19943.html
UK national fraud investigation bureau
http://www.nfib.police.uk/nfib-enewsletter-february-2011.html
"Land banking fraud is when people are conned into buying UK land thinking it will significantly increase in value. Sometimes the valuation of the land on offer is much lower than the quoted price, and sometimes the land being sold does not even exist."
http://www.nidirect.gov.uk/news-feb11-be-alert-to-land-for-sale-scam
Some unscrupulous sellers have made millions of pounds by duping people into buying unsuitable plots of land at vastly inflated prices. The sellers persuade them that the land has potential to be sold at a profit to developers looking to build houses. In reality the land may be totally unsuitable for housing and has little hope of ever getting planning permission.
Corruption of middle level leaders
I spoke to an undergraduate from China, who is aware of the social and political issues. He told me that the top leaders in China are generally honest, but there is rampant corruption at the lower levels.
I gave an optimistic prediction. Given time, China will be able to eradicate the corrupt practices, although the task may be daunting. The situation is worse in other countries where the top leaders are greedy for personal wealth and top salaries. They will lose the moral authority to require people at lower levels to behave and act honestly.
I gave an optimistic prediction. Given time, China will be able to eradicate the corrupt practices, although the task may be daunting. The situation is worse in other countries where the top leaders are greedy for personal wealth and top salaries. They will lose the moral authority to require people at lower levels to behave and act honestly.
Taxi service in Singapore
15 years ago, Singapore had a good taxi service. It was affordable and reliable.
Today, we have a poor taxi service. Our taxi fares are high and the service has become quite unreliable. Prior to the peak hour, taxis are not available. The taxi drivers wait for the peak hour, to be able to levy a 30% surcharge. Taxis are not available in some areas without locality surcharge, but plentiful in other places with the surcharge. There is long queue at taxi stands, but if one is willing to pay a ransom (i.e. the call booking charge), the taxis become available immediately.
We also have a convoluted system of taxi fares, perhaps the most convoluted in the world. Singapore used to be a place with good governance. How did we get into t his sorry state of affairs?
Today, we have a poor taxi service. Our taxi fares are high and the service has become quite unreliable. Prior to the peak hour, taxis are not available. The taxi drivers wait for the peak hour, to be able to levy a 30% surcharge. Taxis are not available in some areas without locality surcharge, but plentiful in other places with the surcharge. There is long queue at taxi stands, but if one is willing to pay a ransom (i.e. the call booking charge), the taxis become available immediately.
We also have a convoluted system of taxi fares, perhaps the most convoluted in the world. Singapore used to be a place with good governance. How did we get into t his sorry state of affairs?
Astronomical fees
It came as a shock to me to learn, through newspaper reports, how much fees are being charged by oncologists (i.e cancer specialists in Singapore). After paying the astronomical fees, many patients still died.
I understand that top lawyers are also astronomical fees - way beyond what an ordinary person can bear. It seems that a senior lawyer will charge in one day, what most people will earn in 3 to 6 months. This type of fees will destroy a society.
I respect the action taken by the Singapore Medical Council to address a recent case of alleged over-charging, but it seemed that the practice has been rampant - from the testimony of the other medical specialists. How did Singapore get into this sorry state?
It is the duty of the government to govern a society to be fair and just, rather than to have some people get away with as much loot as they can. I hope that more action can be taken against excessive charges, not only by professionals but also business corporations.
Tan Kin Lian
I understand that top lawyers are also astronomical fees - way beyond what an ordinary person can bear. It seems that a senior lawyer will charge in one day, what most people will earn in 3 to 6 months. This type of fees will destroy a society.
I respect the action taken by the Singapore Medical Council to address a recent case of alleged over-charging, but it seemed that the practice has been rampant - from the testimony of the other medical specialists. How did Singapore get into this sorry state?
It is the duty of the government to govern a society to be fair and just, rather than to have some people get away with as much loot as they can. I hope that more action can be taken against excessive charges, not only by professionals but also business corporations.
Tan Kin Lian
Traffic woes of Beijing
I read that Beijing has a serious traffic congestion issue. There are some roads where the traffic hardly moves. It can take several hours to pass a certain stretch of the road.
Beijing went to the extent of mandating that cars can only be used on alternative days, based on odd or even number plates. How do the rich people in Beijing overcome this restriction? They buy two cars for each driving person in the family with odd and even number plates. The number of cars on the road did not reduce significantly, but the number of cars in the homes increased sharply, adding o the parking woes.But it is boom time for the car manufacturers, who are able to larger market. How wasteful!
The solution is a better system of public transport. The car manufacturers will lobby against it, but if the government is keen to find a solution that is better for the city, they have to push through the necessary measures. A strong government will do it, for the good of the people. I believe that the Beijing government will find and implement this type of solution.
Beijing went to the extent of mandating that cars can only be used on alternative days, based on odd or even number plates. How do the rich people in Beijing overcome this restriction? They buy two cars for each driving person in the family with odd and even number plates. The number of cars on the road did not reduce significantly, but the number of cars in the homes increased sharply, adding o the parking woes.But it is boom time for the car manufacturers, who are able to larger market. How wasteful!
The solution is a better system of public transport. The car manufacturers will lobby against it, but if the government is keen to find a solution that is better for the city, they have to push through the necessary measures. A strong government will do it, for the good of the people. I believe that the Beijing government will find and implement this type of solution.
General Election Portal
I have two people helping me in updating the General Election Portal (see www.easyapps.sg/sgep). I need another volunteer, preferably someone who has an interest in politics and social issues, e..g. undergraduate or graduate in political studies.
Your role is:
Interested? Send e-mail to kinlian@gmail.com.
Your role is:
- Read the international and local media and blogs
- Look for items that fit the interest of Singaporeans on politics and social issues
- Make a brief summary
- Provide a link to the main article.
As this is a voluntary job, you can do it when you have the free time. You are expected to spend 1/2 to 1 hour a day, but you can spend more time, if you wish. See www.easyapps.sg/sgep/latest.aspx for examples of the work that is expected. You can get a briefing from an existing editor on how to carry out this work.
Interested? Send e-mail to kinlian@gmail.com.
Tan Kin Lian
Health Subsidy for Singapore citizens
There was a recent case where a Singaporean was denied the subsidy on health care due to an industrial accident. The citizen was not covered by the employer for the accident. The Ministry of Health decided to charge the full rate to the citizen.
I am puzzled by this decision. It seemed that one ministry (i.e. Health) wishes to push the push the problem to another ministry (i.e Manpower) by requiring that the cost should be borne by the employer as it is an industrial accident. The Ministry of Manpower will find it difficult to enforce this requirement, especially for small employers. If the employer is unable to cover this cost, the burden falls on the poor citizen.
It is better for Singapore to have one system to provide for medical expenses, rather than a fragmented system with separate rules for for industrial and non-industrial accidents. We seem to have a culture of pushing responsibility from one ministry to another. Instead of finding ways to reduce cost for the nation, it seems that our civil servants are spending time to find out where to pass the buck. Can someone remind our ministers that they they belong to one Government?
Read this article by Leong Sze Hian in TheOnlineCitizen.
Tan Kin Lian
I am puzzled by this decision. It seemed that one ministry (i.e. Health) wishes to push the push the problem to another ministry (i.e Manpower) by requiring that the cost should be borne by the employer as it is an industrial accident. The Ministry of Manpower will find it difficult to enforce this requirement, especially for small employers. If the employer is unable to cover this cost, the burden falls on the poor citizen.
It is better for Singapore to have one system to provide for medical expenses, rather than a fragmented system with separate rules for for industrial and non-industrial accidents. We seem to have a culture of pushing responsibility from one ministry to another. Instead of finding ways to reduce cost for the nation, it seems that our civil servants are spending time to find out where to pass the buck. Can someone remind our ministers that they they belong to one Government?
Read this article by Leong Sze Hian in TheOnlineCitizen.
Tan Kin Lian
Fee guidelines - the Brunei Times
THE BRUNEI TIMES, 25th Feb. 2011
It is partly the Singapore Government's fault when they withdrew the Singapore Medical Association (SMA) guidelines for professional medical fees in Singapore a few years ago, saying that it is "price fixing" and is "anti-competitive".
This means today in Singapore, the professional fee is between the doctor and the patient as there is no guidelines to fall back on. If the doctor wants to charge, there is no limit as long as the patient is willing to pay. Hence technically, there is no such thing as "over-charging".
This is a case that appeared in High Court in Singapore a few days ago and it still ongoing:
It is partly the Singapore Government's fault when they withdrew the Singapore Medical Association (SMA) guidelines for professional medical fees in Singapore a few years ago, saying that it is "price fixing" and is "anti-competitive".
This means today in Singapore, the professional fee is between the doctor and the patient as there is no guidelines to fall back on. If the doctor wants to charge, there is no limit as long as the patient is willing to pay. Hence technically, there is no such thing as "over-charging".
This is a case that appeared in High Court in Singapore a few days ago and it still ongoing:
Dr. Susan Lim's bills
Someone sent a letter showing reports in The Brunei Times about Dr. Susan Lim's bills. It has placed Singapore in a bad light and might sour relations with Brunei. Read SGEP - Latest or click here.
I get the nasty feeling that the government acts only because of the complaint by the Brunei High Commission. This will be quite bad. We should act out of a sense of right and wrong.
I get the nasty feeling that the government acts only because of the complaint by the Brunei High Commission. This will be quite bad. We should act out of a sense of right and wrong.
Financial Planning Talk and Review of Insurance
Hi, Mr. Tan
I really enjoyed the seminar last Saturday. Initially, I had wanted to give the seminar a miss as I did not want to leave my infant daughter at home. Am really glad that my time away from her was well spent!
Before the attending your seminar, I signed up as a member of FISCA. May I know if i can approach a volunteer to vet through a few insurance policies for me? Since the birth of my daughter, we have received quotations ranging with annual premium ranging from $20K to $35K.
REPLY
Please go to this website (www.easysearch.sg) and do a financial plan. You will get a report that shows the names of two volunteers. You can contact Vincent Sear, as he is knowledgeable about insurance. He will see if he can guide you, for a modest fee.
I really enjoyed the seminar last Saturday. Initially, I had wanted to give the seminar a miss as I did not want to leave my infant daughter at home. Am really glad that my time away from her was well spent!
Before the attending your seminar, I signed up as a member of FISCA. May I know if i can approach a volunteer to vet through a few insurance policies for me? Since the birth of my daughter, we have received quotations ranging with annual premium ranging from $20K to $35K.
REPLY
Please go to this website (www.easysearch.sg) and do a financial plan. You will get a report that shows the names of two volunteers. You can contact Vincent Sear, as he is knowledgeable about insurance. He will see if he can guide you, for a modest fee.
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