Saturday, April 9, 2016

This is not paradigm shift

Changing the T-score format to L2R2 is not a paradigm shift. Paradigm shifts examples are like straight 10 years of general schooling, with an option to change school at the 7th year, changing the syllabus to practical based assessments instead of theory, curriculum that encourages creativity, etc

L2R2 is just copying. And they ask us why Singaporeans are not innovative. 

Visit Rhinestic's Knick Knacks @ Etsy for handmade goods and supplies!

Wednesday, April 6, 2016

Tax and Kaisuism

I have been busy with work for quite some time, which is evident from my lack of posts. However, looking at the recent budget debate, I find that too much focus has been put on things that do not matter.

First of all. The tax issue. Working mothers say that it's an increase of 20% of tax. Come on. People only use percentage to hide real numbers in areas of tax. If you look at the dollar value, what's that worth? One less vacation to some faraway country? One less LV bag? Use the car to the full 10 years instead of changing to the latest model? If you want to have children, paying tax is not an excuse. If you are having children just because you want to pay tax, then you should be very worried because you are having children for all the wrong reasons. Oh yes. Did I forget to mention we have one of the lowest tax rates in the world?

Next is Kiasuisim. I agree that this is causing issues with creativity and innovation because everyone is afraid. It's not something that we should encourage or even be proud of. This I feel is also directly linked to the brain drain we are having. Why are the best and brightest moving to the US? I have been to the US before and I can say that at least in the areas of technology, you get far better response to new ideas instead of a typical track record and risk analysis that will eventually kill it off. 

My take. The extra income from the cap will be beneficial for the transformation of the economy. Money doesn't drop down from the sky and we need to discourage the not in my backyard syndrome. 

Sunday, November 29, 2015

Inflation is down 0.8%

These are the Singapore inflation rates for 2015:
January: -0.4%
February: -0.3%
March: -0.3%
April: -0.5%
May: -0.4%
June: -0.3%
July: -0.4%
August: -0.8%
September: -0.6%
October: -0.8%


For the month of October, both Education & Food rose by 3.7% and 1.8% respectively year on year. Inflation went up for communication but it was offset by a larger than expected drop in Housing & Utilities. As a result, even compared to last month, Inflation was down.


Looking at the current trend now, it would seem that the average inflation for this year would be negative. However, in terms of the inflation of everyday expenditure, it would have risen. The average cost of food for myself have increased in the early second half of this year. Oil prices however will keep inflation down, most probably.

Saturday, November 14, 2015

4% pay rise shows the big disconnect with reality

You have news that
- growth is slowing down all over the world, including China
- retail giants are losing money quarter on quarter
- property giants are losing money
- oil and gas giants are losing money
- technical recession is happening all across Asia and the world

And yet, there is news that there are salary rises next year by 4%. If that doesn't show the obvious disconnect with reality, I am not sure what will. Drawing an analogy, it's like saying that you are giving your children a 4% raise in allowance when your salary is being reduced and your job might not be around next year. 

Ridiculous right?

Thursday, October 29, 2015

Inflation is down by 0.6%

These are the Singapore inflation rates for 2015:
January: -0.4%
February: -0.3%
March: -0.3%
April: -0.5%
May: -0.4%
June: -0.3%
July: -0.4%
August: -0.8%
September: -0.6%

For the month of September, both Education & Clothing & Footwear rose by 3.5% and 2.3% respectively year on year. Inflation is stable compared to the previous month, with only clothing & footwear showing some noticeable difference. In fact, if clothing & footwear was excluded, inflation would have went down further.

As mentioned, I am still of view that US is going to slowly raise their rates at least once this year but since we are closed to the end of the year, the effect won't be seen this year.

Looks like there may not be any inflation this year.

Thursday, September 24, 2015

Inflation is down by 0.8%

These are the Singapore inflation rates for 2015:
January: -0.4%
February: -0.3%
March: -0.3%
April: -0.5%
May: -0.4%
June: -0.3%
July: -0.4%
August: -0.8%

For the month of August, both Education & Food rose by 3.7% and 1.9% respectively year on year. Inflation has been trending up month on month, most noticeably on Housing & Utilities, but inflation is negative most probably due to the high base last year.

I am still of view that US is going to slowly raise their rates at least once this year so we might be in a state where inflation is low, but interest rates are ticking up.

Visit Rhinestic's Knick Knacks @ Etsy for handmade goods and supplies!

Wednesday, September 16, 2015

Don't complain when you are not recognized at work

I thought that I should write a short note on the outcome of the recent general election results. Let's stop harping on what happened previously and look forward to the future since the election is over.

However, some Singaporeans have lost their right to complain that they are not recognized at work because some of them voted out a member of parliament that was working full time on their issues, unlike most of the other members. If you don't recognize the hard work that your mp put in, don't expect others to recognize what you did. That's the precedent that you have set for yourself. 

I worry for our future. 

Wednesday, September 9, 2015

What I have not yet heard so far

I have been very busy for the past few years so I have not got much time to blog about issues close to my heart. Looking at the current election rallies, I think some of the points have not yet been brought up, which I find important for us to move forward. 

First and foremost, the focus on GDP. Just google around and you will realize that there are many papers written about the focus on GDP does not necessarily translate to benefits for the citizens. In my opinion, this is especially true for us. Why?

First, our workforce. Most of our workforce are foreigners coming in. They don't have roots here. Some do not have families here. What do they do? Send most of their money back to their own country. What is the effect? No downstream effect to the rest of the businesses that usually flourish due to more disposal income. Evidence? Franc franc, borders, provision shops. All of them are leaving or closing. Why? Think about it. 

Next is the over focus on what I term as elitism education. Why do I say that? Let's go back to the basics. Do you learn how to build a wooden chair by reading the theories, going to exams and getting an A? Ask all the graduates of our universities on their practical experience. Look at all the highly paid CEOs , permanent secretaries of our statutory boards and ministries. How many have practical experience in the domain of which they are supposed to lead in strategy and direction? Is running a business all about money? Did Microsoft and Apple get to where they are because of the bottom line?

Last but not least, the unfair advantage of foreign companies in Singapore. Yes. You heard me right. In other countries, local companies usually have the home advantage but not here! I am not even going to cite examples because if you are in the SME, you will know this issue very well. You have foreign companies bringing in cheap labour from other countries to be based in Singapore due to some unknown pacts that were signed by our government. These people come for the short term, earn little from our perspective because their standard of living is not as high as Singapore, and go back. Quality may be questionable too. How do SMEs compete against such unfair advantage? The worst part is that this unfair advantage is totally supported by the government. Our standard of living is very high so there are expectations of a higher salary. We have families here and houses to pay for. When we try to hire foreign workers we get slapped by a high ratio quota. Coupled with the fact that we  may sometimes face an entitlement issue with local workers who sometimes don't even have any shred of practical experience and yet ask for high pay, how can local companies compete and most importantly, innovate?

I leave it as that for anyone who bother to read this to ponder on it. It's not like we don't have money. We are making money but yet, we only spend 50% of what we earn on ourselves. As I recall, I don't think we are a listed company. Even then, look at Amazon. They plough their profits back to r&d to improve and innovate. 

What are we doing? A case of scrounge mcduck?

Let's step back and think about what we want for the country. We are unique in the sense because all we have is human capital. If we don't invest in ourselves and be happy, how do we move forward?

Something to think about. I have reached my mrt stop. Another day of meetings.  

Tuesday, August 18, 2015

Fill in excel form to register with MFA?

I've been repeatedly seeing the MFA encouraging Singaporeans in Bangkok to register with MFA. However, does MFA realized that their eregister system is not yet functional and the webpage only ask the person to fill in a complicated excel file and email to an email address? Who will bring a laptop overseas so that they can fill in the excel form? Shouldn't they provide an easier way to do it for this situation???

Friday, August 7, 2015

Lack of creativity and collaboration

Just read a Bloomberg article that pretty sums up the major issues that Singapore faces today, most importantly, the education system which is going down the wrong direction for a long time with its obsession in theory tests, which is in reality useless in the working world. 

Below is a snippet of the Bloomberg article: 
The rapid buildup in the immigrant population, from 5 percent in 1980 to 29 percent in 2014, has spurred a fierce backlash. Rising living standards have led to plunging fertility rates and longer lifespans: Singapore is now one of the fastest-aging societies in the world. The emphasis on big multinationals and government-linked companies has held back the development of small and middle-sized enterprises. In education, standards are world-class -- except when it comes to creativity and collaboration.
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