Things does not look good for Singapore in 2019 but better in 2020

Things are not looking well for the local economy, according to the latest Enterprise Singapore data released on Monday (18 Nov). Both non-oil domestic exports (NODX) and oil domestic exports declined on a year-on-year (y-o-y) basis. And NODX has on the declining trend for the past eight months.

On a y-o-y basis, NODX decreased by 12.3% in October 2019, following the 8.1% decline in the previous month. Both electronic and non-electronic NODX declined.

On a y-o-y basis, electronic NODX declined by 16.4% in October 2019, following the 24.8% contraction in the previous month. ICs, PCs and telecommunications equipment contracted by 17.2%, 31.3% and 15.7% respectively, contributing the most to the decline in electronic NODX.

As for non-electronic products on a y-o-y basis, non-electronic NODX contracted by 11.0% in October 2019, following the 2.3% decline in the previous month. Pharmaceuticals (-36.0%), petrochemicals (-19.2%) and primary chemicals (-47.3%) contributed the most to the decline in non-electronic NODX.

All non-oil domestic exports to Singapore’s major markets dropped in October with the exception of Taiwan.

As for oil domestic exports on a y-o-y basis, oil domestic exports decreased by 21.0% in October 2019, following the 22.6% contraction in the preceding month. According to the figures provided by ES, lower exports to Indonesia (-32.0%), Malaysia (-23.2%) and Hong Kong (-30.3%) contributed to the y-o-y decrease of oil domestic exports.

Total trade decreased by 9.7% in October 2019, following the 5.0% decline in the preceding month. Total imports decreased by 10.3% in October 2019, after the 4.8% decline in the previous month. Total exports decreased by 9.2% in October 2019, following the 5.1% decline in September 2019.

Read more at http://www.theonlinecitizen.com/2019/11/19/worrying-economic-trends-as-singapores-oil-domestic-exports-decreased-by-21-0-and-non-oil-domestic-exports-decreased-by-12-3

➡️📰 Get our stories delivered to you on Telegram: https://t.me/tocsg (English platform) & https://t.me/wangluogongming (Chinese platform)

Plights of Singaporeans who does not see a future

South China Morning Post (SCMP) reported yesterday (18 Nov) that based on a recent survey conducted by the Institute of Policy Studies (IPS) at NUS, majority of Singaporeans are feeling “stuck in their social classes”.

The findings, released last month (29 Oct) in a paper titled ‘Faultlines in Singapore: Public Opinion on their Realities, Management and Consequences’, covered some 4,015 people aged 18 and above. The survey was conducted between August 2018 and January this year by IPS.

The survey asked respondents if they felt their financial status would improve in a decade’s time, more than five in 10 said they would experience negligible financial mobility while fewer than one in 10 felt their fortunes would decline.

This pessimism cut across all education levels. Only 44% of those with a degree were hopeful of upward mobility in 10 years’ time, with the figure falling to 40.6% for Singaporeans with vocational training or a polytechnic diploma. For those with a secondary school education or below, only 23.8% expected to do better in future, with 10.6% thinking they would be worse off.

SCMP conducted its own survey and found that 4 out of 5 Singaporeans interviewed said their pessimism boiled down to salaries not matching up to costs, and a sense that wages were stagnant.

A Singaporean by the name of “Ho” was interviewed by SCMP. Ho did not complete secondary school, uses an e-scooter for his work and takes home between S$2,000 and S$3,000 a month, depending on the number of deliveries he makes. With the recent ban of PMD on footpaths, he may have to get a motorbike licence and buy a bike to continue at his job. This stretches his already thin finances after supporting a wife and a five-year-old and getting a new three-room flat next year.

“I really don’t know what will happen 10 years later. You ask me to look at just the next two years, and I also don’t know how to survive,” said Ho. “It’s a very rich country but it’s progressing way too fast, not everyone can catch up with the progression.”

As for degree holders such as Beatrice, 24, who writes for a magazine, they too feel the pinch.

Beatrice takes home less than S$3,000 a month and is paying off a student loan of S$28,700 after her four-year bachelor of arts in literature course. She tries to be optimistic about her future, but the cost of living is high and her pay seems stagnant. “I feel stifled,” she said. She lives with her parents in their four-room flat “out of necessity”.

Read more at http://www.theonlinecitizen.com/2019/11/19/4-in-5-singaporeans-say-salaries-not-matching-up-to-costs-and-complain-about-wage-stagnation

➡️📰 Get our stories delivered to you on Telegram: https://t.me/tocsg (English platform) & https://t.me/wangluogongming (Chinese platform)

United we stand, divided we fall Singapore

We stand for the Truth, not lies and deceit from others in the name of freedom and democracy, we will never be be dragged into conflicts of others agenda. I am here to handle the AntiChrist, and protect peace and prosperity of all members of the United Nations, nobody can handle me not the entire US or China. Contributed by Oogle.

Lessons For Singapore

We should be mindful that the protests in Hong Kong may be microcosms of what can happen to many parts of the world, especially when countries are confronted with a major crisis that tear into the established fabric of their society.

And their electorate is not willing to take bitter medicine, and make deep changes to reform and strengthen their communities and societies.

To inoculate Singapore from such a crisis, every Singaporean must continue to do his or her part to build on our “One United People” spirit.

We must help each other to be constantly inspired
to have a deeper sense of commitment in terms of ownership, rootedness, and active contribution, to the progress of Singapore.

Second, the authorities should continue to be proactive in dealing with challenges that can divide and polarize Singaporeans, including political and ideological divides, racial and religious disharmony, socioeconomic class differences, immigration issues, and social inequality and mobility.

Respond to angry Singaporeans living in our midst who can be influenced by others, or who can influence others to trigger social challenges.

Last but not least, The Singapore government should help to educate our people to do proper research, think critically, and make wise decisions.

And if possible, involve the people in the crafting and implementation of major plans, policies and other initiatives.

Through this consultative and inclusive process, citizens can become more matured politically and wiser about sociopolitical issues, and develop stronger commitment to improving the country.

For democracy to work, it should be supported by a matured citizenry, comprising of people who take an objective, balanced and pragmatic approach to election of political leaders and running of a country.

https://www.straitstimes.com/asia/east-asia/hk-dismisses-curfew-rumours-as-xi-stresses-need-to-restore-order

It is very simple logic, everything in our reserves are already wipe out for the next gen leaders to rectify

I share this post from Brad Bowyer. Can any million dollar minister do your duty to verify the facts under POFMA? I can’t leh.

November 15th, 2019

Brad Bowyer
In my accountability speech at Hong Lim Park earlier in the year, I mentioned Indian Telco Bharti Airtel and asked questions about why Singtel was upping its stake as the company hit cash flow issues, while rating agencies had reclassified it as ‘junk’. To make matters worse, it recently got hit with a court ruling that it owes the Indian government over SGD$17 billion in licence fees, which financial media speculate could have a knock-on effect of wiping 4 to 5% off Singtel’s value.

Now we see the idiocy that is Temasek’s investment in Salt Bae coming home to roost. This came to our attention in the middle of last year when Temasek somehow valued the restaurant chain at $1.2 billion when it made its investment. Now the debt-ridden parent of the chain (and yes, it was already debt-ridden when Temasek first bought in to it) is struggling to convince anyone it is even worth $1 Billion. So looks like a fair chunk of the $200 million that Temasek put in will vaporize in less than a year.

Along with Bharti Airtel, we also saw the recent canning of the Amaravati city project (part of the S$4 billion already dumped into Andhra Pradesh by GLCs and related parties). So India has not been so good an investment choice after all.
We also saw a $1 billion loss on Bayer in the last 18 months and counting with the Monsanto/ Roundup lawsuits and scandals. Not to mention, there is also a long list of smaller losses, including over $0.5 billion in fines for Keppel subsidiary in Brazil for corruption in recent years.

And this is all from the combined team we are asked to trust our futures with? And the PAP still claims that investors will lose confidence in and run away from Singapore if they are not resoundingly re-elected?

It seems like they are quite good at causing disasters on their own. And shall we talk Ongoing PMD handling? Or CECA? Or Elected President? Or embarrassments in Parliament while attacking WP? Rising cost of living? GST? Unemployment? HDB to Zero? Economy in Contraction?

How much evidence do we need before we say it’s not that we can’t afford not to re-elect them resoundingly? It is more like we can’t afford not to remove them resoundingly – and that may well generate confidence as well given this evidence.

So please take the time to look yourself and get your friends to review the PAP’s track record since 2015. The 1G leaders are long gone and their legacy has long been spent, figuratively and now literally judging by the facts.

It is time for change.

Brad Bowyer

HK protestors will learn the hard way, and China will never budge

https://oogleblogs.files.wordpress.com/2019/11/vid-20191030-wa0000.mp4

There is no way the HK protestors learn military tactics with such prescision. Someone behind organized this crime and the truth is told. Contributed by Oogle.

Quota: Why isn’t China doing anything to stop the riots in Hong Kong?

Yang Wang answered.

In the year of 1959, there was armed insurgency in Tibet, and Mao commented on this matter as

“For Tibet situation, the more chaos, the better, the army can get trained, the normal people can get educated, more importantly provides enough reasons for the future counter insurgency and reform.”

Now it is exact situation in HK.

The more chaos in HK caused by these rioters, normal people in HK will get educated that the “peaceful” protesters are actually stupid “terrorists”.

When the city got smashed, no traffic, no food, no jobs, the normal people will get educated that peace and bread is the real “universal value”, rather than “democracy and freedom”.

When the banks leaving HK, university professors and scholars leaving HK, tourists leaving HK, mainlanders leaving HK, the normal people will get educated that it was the hard working people, the tolerant environment, and the strong bonding to mainland China that supported HK’s prosperity.

When the city was leaving in ruins, but the leaders of the riots are in Yale, in white house, in BBC giving speech, the normal people in HK will get educated that they were so fooled by those who have their dirty secret.

When after the riot, HK is no longer a shining star but a disgusting corner fulfilled with bias and criminal, the whole China will get educated “one country, two system” is not working, it’s not that our system not working, but their system is not working.

It is a great text book, in fact, it is a live sample to show to all China, what would it be if China is not under leadership by the CCP. By that time, the people in HK will be holding flowers expecting to be a REAL part of China.

First DBS Bank then Festival Walk set on fire, do you want to see the Judgment of God? The HK leader who accepts bribes to create chaos will be assasinated, and all their backers will flee

The Hong Kong protests are not about freedom or democracy, it is testing the limits of the One World, One government, where they are testing how far they can go to create chaos and terrorism, and if the One World government can handle them, I am sorry to disappoint you, for peace and prosperity for every nations, I will never budge, and I will sacrifice one person to benefit the rest of the world. Contributed by Oogle.

Festival Walk, a shopping mall in Hong Kong owned by Singapore-based Mapletree North Asia Commercial Trust Ltd, suffered “extensive damage” in another round of protests on Wed (13 Nov).

Bloomberg reported Mapletree, a Temasek Holdings-linked company, as saying that protestors had “smashed” glass panels at the mall’s entrance, and that they had also “damaged the office lobby and balustrades on various levels” of the centre.

Festival Walk’s Christmas tree was also “torched” during the protests.

Mapletree North Asia Commercial’s fell 4.9 per cent to S$1.16 in early Singapore trade yesterday, which is the lowest in 10 months, according to Bloomberg.

Festival Walk is situated near the Kowloon Tong subway station. It houses over 200 retail stores and restaurants, including Apple, Marks & Spencer and Uniqlo.

Festival Walk was Mapletree’s first commercial property acquisition in Hong Kong, purchased for S$2.9 billion in 2011.

As of Mar this year, Mapletree owns and manages S$55.7 billion of office, retail, logistics, industrial, residential and lodging properties, including four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds.

The incident at Festival Walk follows another violent clash between protesters and the police, which saw a student succumbing to fatal head injuries last Fri (8 Nov).

AFP reported that while the exact chronology leading to 22-year-old Alex Chow’s fall are “unclear and disputed”, his death is “the first student fatality during five months of demonstrations”.

Read more at https://www.theonlinecitizen.com/2019/11/14/hong-kong-shopping-mall-owned-by-temasek-linked-company-suffers-extensive-damage-by-protesters/

➡️📰 Get our stories delivered to you on Telegram: https://t.me/tocsg (English platform) & https://t.me/wangluogongming (Chinese platform)

Singapore-China relations will determine the future One World One Government relationship for the rest of the world

Singapore-China Relations: A Walk Back Into Time

12 November is a significant date for Singapore-China relations.

On this day in 1978, Deng Xiaoping made his historic visit to Singapore, and it became a turning point for Singapore-China relations.

On 12 November 2018, Singapore signed an upgraded free trade agreement (FTA) with China.

I’m hopeful that the implementation of this agreement will be another milestone in strengthening our bilateral relations with China and advancing our mutual interests.

Singapore and China may differ on some issues and will go through a bumpy ride every now and then in our relationship.

However, we share largely similar perspectives on macro issues such as governance, culture, economic development, and growth.

It’s in Singapore interests to see China prosper and remain stable and secure.

That’s why Singapore takes an active interest and involvement in China almost right from the time China opened its door to the world.

1. Hand Of Friendship

Our relationship with China goes all the way back to 1976 when our founding father, the late Mr Lee Kuan Yew first visited China.

Mr Lee put on record that Singapore wants China’s economy to grow stronger, and that the growth of China would be good for the world.

Two years later in 1978, Mr Deng Xiaoping visited Singapore. He had many good words to say about Singapore.

Mr Lee told him that China could do better than Singapore.

During his tour of the southern provinces in 1992, Mr Deng even encouraged his people to learn from Singapore.

In his words, he said, “There is good social order in Singapore. They govern the place with discipline. We should draw from their experience and do even better than them.”

According to Ambassador Tommy Koh, after Mr Deng’s tour, more than 500 Chinese delegations visited Singapore in 1992.

2. Human Resources Development

Zhao Leji, a politburo member affirmed the “strong and substantial relationship” between Singapore and China and that the two countries should cooperate in the area of human resource development.

During his visit to China in 2015, President Tony Tan Keng Yam said that since the 1990s, about 50,000 Chinese officials and cadres had studied subjects such as urban management, social governance and public administration in Singapore.

Two of the most popular training programmes are the master’s degree programmes in public administration and managerial economics at NTU’s Nanyang Centre for Public Administration (NCPA) and the master’s degree programme in public administration at the Lee Kuan Yew School of Public Policy at the National University of Singapore (NUS).

The NTU’s programme is commonly known as the “Mayors’ Class” due to the high number of Chinese mayors and mayoral contenders enrolled in them.

According to Professor Liu Hong, the NCPA director, about 1,400 Chinese officials had graduated from the “Mayors’ Class”.

The school has also conducted short-term programmes and had trained more than 15,000 government officials from China and Southeast Asian countries. Most of the students are from China.

Although the number of attendees have declined albeit not substantially, the programmes are attracting a more diverse pool of students, including more professionals such as university management and state-owned enterprises.

Over the years, China has regularly sent many study teams to Singapore, including activists from the Communist Party.

After stepping out of politics, our the first Deputy Prime Minister Mr Goh Keng Swee became an advisor to some of the coastal cities in China.

3. Contributions On The Ground

Singapore has been a friend and shared many of its experiences and best practices with China.

In 1994, during the drive towards industrialization, Singapore helped to set up the China-Singapore Suzhou Industrial Park.

In 2007, just before the 2008 Beijing Olympics, China was facing problems in environmental issues.

There was an idea to jointly develop an eco-city and that idea resulted in the development of the Sino-Singapore Tianjin Eco-city.

In 2015, during President Xi Jinping’s visit to Singapore, both Singapore and China agreed to develop the third government-to-government project, the Chongqing Connectivity Initiative.

The third project was built to support China’s strategy for developing the Western Region.

The other joint projects include the Sino-Singapore Guangzhou Knowledge City, Singapore-Chengdu High-Tech Park and the Sino-Singapore Jilin Food Zone.

4. Sociopolitical Development

Singapore stood with and supported China through many challenges.

For example, after the tragic Tiananmen incident in 1989, many countries, especially those from the West condemned China and imposed economic sanctions against It.

Singapore did not join them but instead, continue to invest in China.

When negotiations between China and the US on China’s accession to the World Trade Organisation reached an impasse, Mr Lee Kuan Yew acted as an interlocutor and helped to break the deadlock.

Singapore was also instrumental in facilitating China’s link-up with ASEAN through ASEAN +3.

It is the only country that has set up the Joint Council for Bilateral Cooperation (JCBC) with China.

5. Economic Development.

When China initiated the Asian Infrastructure Investment Bank (AIIB) which strategically excludes the US, Singapore broke ranks with the US and was actively lobbying countries to join and support the AIIB.

Singapore is one of the largest and few offshore clearing centres for RMB.

Singapore was also one of the early supporters of China’s One Belt One Road (OBOR) Initiative.

The Chinese and Singapore banks are actively financing “Belt and Road” projects, especially in the South-east Asia region.

Singapore is one of China’s largest investors and trading partners.

It is a nett contributor to China since Deng Xiaoping opened up the economy.

Conclusion

History has taught us that there are no permanently friendly or unfriendly parties.

Sometimes, it’s good to go through benign controversies, conflicts and challenges.

As the Chinese would say, 患难见真情.

Loosely translated, it means that in times of trouble, you’ll know who your true friends are.

China will realize that we are consistent in wanting to be a true friend to its country and people, be a plus factor to its government, and be an asset to its economy,

Both of our countries do not have all the friends in the world.

Therefore, we can support one another as a hub and spoke, and a router and connector to the rest of the world so as to promote our mutually-reinforcing interests.

In doing so, we will then have a more stable, secure and sustainable relationship.

In a bigger picture, as a small nation, we are mindful that we need to be friendly with China and for that matter, with all countries.

We have to continue to be relevant and be a vital value-addition to the world.

We must do everything possible to seek peace, prosperity and progress not just for our country but also for the rest of the world, including China.