Why suffer when the under lying issue is already well known

Actually:

The reason why Singaporeans cannot save enough inside their CPF for retirement is because – a huge chunk of the money is being taken to let GIC/Temasek Holdings invest
https://youtu.be/INNbiqRSuu8

The reason why jobs are being replaced based on the contractual agreements PAP signed with other countries is because – PAP gets to profit from its investments via GIC/Temasek Holdings through these contractual agreements

The reason why Singaporeans cannot afford healthcare is because – a huge chunk of the money is being taken to let GIC/Temasek Holdings invest
https://youtu.be/7-KDwM9El0s

The reason why Singaporeans are paying expensive university fees is because – a huge chunk of the money is being taken to let GIC/Temasek Holdings invest
https://youtu.be/L6z2Z2e9wjM

The reason why Singaporeans have to pay for expensive ‘public’ housing is because – a huge chunk of the money is being taken to let GIC/Temasek Holdings invest
https://youtu.be/uVFuE16c7b0

The reason why Singaporeans earn only half the wages workers in similarly-rich countries earn is because – a huge chunk of the money is being taken to let GIC/Temasek Holdings invest

The reason why Singaporeans have to pay for expensive public services is because – a huge chunk of the money is being taken to let GIC/Temasek Holdings invest

The reason why the largest Singapore companies owned by Temasek Holdings are charging such high prices is because – a huge chunk of the money is being taken to let Temasek Holdings invest

Look, even if you don’t know/don’t want to know/don’t want to think about how your money is being used, the fact of the matter is that you are losing your earnings and overpaying for goods in Singapore because – a huge chunk of the money is being taken to let GIC/Temasek Holdings invest

And until you face up to this reality, you are still going to think – oh, that person stole my job; oh, that person caused me not to earn enough, etc etc. When you put the blame on people and things, when the real issue is really how all that money is being sucked away by PAP into GIC/Temasek Holdings, then you are missing the forest for the trees.

It is just easier to complain about this or that person, rather than to point to the real problem. Meanwhile, the inequality and unfairness in Singapore is causing people to become angrier and more selfish.

If you want to do something, then stop voting for a company to run your country.

If you want a proper country, then vote for a government to run your country.

You know as well as I do the PAP is made up of a bunch of people who take over the country to run it for profits that is largely not returned to you.

But if you keep pretending that isn’t happening, then you can keep blaming this and that person for stealing your job, your food.

Then you can forget about the larger issues and keep voting for the same people who are letting your job and food get stolen.

You want to do something about it? Then vote for people who actually care.

People who will at least do more justice for you.

Post-edit: If you are asking what they are doing with your money in GIC/Temasek Holdings, I also want to know. You aren’t getting answers from PAP, they’ve already stonewalled Ong Teng Cheong, and they are stonewalling you too.

CECA does not cover many core issues for Singaporeans and gives India an unfair advantage, I will only help India if they accept RCEP

I have invented AI and control the entire Global Financial markets. Why should we give India the advantage when they did not contribute anything? Just to access their markets when they uphold unfair trade practices? What do you call this when our govt sold us out for their own benefits? Contributed by Oogle.

I share what someone sent to me. I hope the facts pass the POFMA test.

On 29 June 2005, India and Singapore signed the India-Singapore Comprehensive Economic Cooperation Agreement (CECA). This free trade agreement not only enables Singapore and India to trade goods freely, it also allows professionals to work in each other country more easily.

The CECA was concluded after 13 rounds of negotiation and the Singapore’s side was led by none other than Heng Swee Keat, the current PM-in-waiting, who was then Permanent Secretary for Trade and Industry. Heng and his team essentially did the ground work together with their Indian counterparts. They then presented their proposals to the politicians for approval.

Some of the areas covered by CECA include: Improved Avoidance of Double Taxation Agreement, Trade in Goods, Customs, Investment, Trade in Services, Intellectual Property, etc.

However, controversial ones include concluding further Mutual Recognition Agreements (MRAs) so as to facilitate the freer movement of professionals between Singapore and India. It helps to recognise each other’s education and professional qualifications so that Indian and Singaporean professionals from the following five professions could be able to practise in each other country:

Accounting and auditing
Architecture
Medical (doctors)
Dental
Nursing
Already, Singapore now recognises degrees of Indian doctors and nurses from certain Indian universities.

Movement of Natural Persons

Then, CECA also enables movement of persons between both countries. In particular, professionals employed in 127 specific occupations will be allowed entry and stay for up to 1 year or the duration of contract, whichever is less.

Also, intra-corporate transferees (i.e. managers, executives and specialists within organisations) will be permitted to stay and work in India and Singapore for an initial period of up to 2 years or the period of the contract, whichever is less.

The period of stay may be extended for period of up to 3 years at a time for a total term not exceeding 8 years.

In theory, of course, CECA could also benefit Singaporean professionals wanting to work in India but how many Singaporeans really want to work there to earn in rupees?

Indian companies try to exploit CECA loophole

After CECA was signed, some of the Indian IT companies set-up in Singapore tried to exploit the “intra-corporate transferee” loophole so as to get more Indian IT workers to work here. They would hire them in India and then “transfer” them to their Singapore subsidiaries to work, without the need to hire any Singaporeans.

India unhappy with Singapore

By 2017, thanks to CECA, large number of Indian professionals especially those in IT sector were moved into Singapore as “intra-corporate transferees”, since CECA did not set any quotas. Few Singaporeans, if any, were hired.

Many Singaporean PMETs started filing complaints of discrimination to the Manpower Ministry through the Fair Consideration Framework. The Singapore government was forced to slow down the approvals of Indian professionals to work here.

“This (visa problem) has been lingering for a while but since early-2016, visas are down to a trickle. All Indian companies have received communication on fair consideration, which basically means hiring local people,” the president of Nasscom, the IT association of India, complained.

In retaliation, the Indian government decided against expanding the scope of goods where import duties for Singapore goods would be cut unless the concerns of Indian industry are addressed, the Times of India reported.

In particular, the Indian government is against Singapore using the “fair consideration framework” to regulate the employment of Indian professionals in Singapore. “They (Singapore) are doing it despite the CECA clearly stating that there will be no ENT (economic needs test) or quotas on agreed services. This is a violation of the agreement,” warned an Indian official.

Obviously, when Heng negotiated CECA with India prior to 2005, he had not foreseen all these issues facing Singaporean PMETs. Perhaps he cared more if GIC and Temasek could invest freely in India or if DBS could open more branches there?

Nevertheless, Heng was confirmed to be appointed DPM of Singapore on May Day. Opposition member Lim Tean has this to say to Heng, the current PM-in-waiting, “Heng Swee Keat should explain his role in CECA, which cost Singaporeans jobs! What is the benefit to Singapore of CECA?”

Singaporeans are not stupid to cause unrest like HK, the results will show in the election

Open or Close civil disobedience in Singapore

If the court verdict is any lesser than pronounced it will caused a tsunami shock to Singaporean who are used to any opposition to Singapore PAP government preferred conformist behaviour will be penalised. 😉

This however isn’t the real major social issue.

The real issue are the motivating factors for civil disobedience by masses like in Hong Kong, Paris, UK, Spain, South Korea, Thailand, Myanmar and numerous affected countries.

It is simple, the masses are heavily burdened by the state failure to allocate equitable distribution of income leading to huge and widespread income disparity, many unconscionable and unreasonable direct and indirect taxes shouldering the state expensive and even seen wasteful expenditure like the useless 1 billion national stadium expensive trash centre, expensive faucets for public facilities etc whilst the masses lives in poverty unable to put food on the table. Further, other despicable policies that deprive citizens ownership of their own fund especially when needed for medical expenses, combine with government supported predatory foreigners eating lunch of local natives, and the arrogance of elitist earning millions in the name of serving people with clueless long term planning.

These ain’t all the factors.

But the point is civil disobedience doesn’t arise from youth and people because they are bored and have nothing else better to do.

Understanding the causes tell us if that was Jolovan true intention or not, that is the opening signal that Singapore social “disorder” and “chaos” is already present.

People are predicting PAP government will either lose their mandate to government or a major loss of seats to opposition parties like PSP PV SDP WP.

Is this then the open underground mass civil disobedience ongoing from the last General elections where PAP failed to live up to their promises. Essentially, people are expressing they had enough of PAP government and Singapore rejuvenation and renewal can only happened with new and not so new political leaders from the opposition parties.

Property Cooling measures like ABSD will never work in Singapore because of loopholes

by A concerned Singaporean 

In July 2018, in order to cool down the hot property market then and to slow down the steep property price rises, the government implemented some property cooling measures which included higher stamp duties and/or  additional buyer stamp duty (ABSD)

For Singapore citizens, the additional buyer stamp duty (ABSD) of 12% on second property and escalated 15% on third property have definitely deterred or slowed down the purchase of second or third property since Singapore citizens are mostly salaried employees with limited purchasing power, no to mention the darkening economic outlook and the uncertain employment market.

However, the 20% ABSD (although higher than local buyers) imposed on the foreigners (especially the rich China people in the millions) would hardly deter them. Unlike the majority of Singapore citizens, these foreign buyers are mostly not salaried employees or working class.  They have much higher purchasing power than the majority of Singapore citizens.

Unlike Singapore citizens, foreigners can buy second, third or even 10th property at the same ABSD rate (20%) as their first property ie without incremental stamp duty. With a flat ABSD,  it would also not deter foreigners from buying the second, third or even 10th property.

Why are local citizens being penalised with escalating ABSD for buying an additional property but not the foreigners?

No wonder property prices continue to rise despite the cooling measures because the foreign buyers’ investment decision is not affected by the higher but flat ABSD.

With the situation in Hong Kong, we all know and expect that more Chinese and Hongkongers would shift or have already shifted their property investments to Singapore. Logically prices should continue to go up, and it did.

Therefore, it is logical to deduce that foreigners are the ones pushing up the local property price increases.

Based on past statistics, cooling measures (except  TDSR:  total debt servicing ratio) implemented by the government have not reduced property prices. It at most kept the prices increase at a slower rate. Property prices have in fact increased significantly over the last few years despite the various cooling measures.

The cooling measures so far have again proven to be ineffective with the recent frenzy pushing up the prices due mainly to foreign buyers investment trend. It is high time the government implement new and more effective cooling measures.

While higher stamp duty or ABSD for second third property have been effective on local buyers, by increasing the ABSD for first investment and implementing incremental ABSD for subsequent additional property purchases on foreign buyers would not be as effective due to their high investment appetite and purchasing power.

For the foreign buyers, other forms of measures would be needed to arrest the spike in the already high property prices, otherwise private property owners in Singapore would ultimately and mostly be foreigners or rich Singapore businessmen or property developers and remain unaffordable and out of reach for many local citizens.

Besides increasing stamp duties and ABSD,  other more effective measures targetting at the main culprits ie the foreign buyers could include the following:

1) Foreigners and PRs can only buy properties which are priced above $3 million. This will prevent foreigners/PRs entering the lower /mass market segment (which majority salaried Singapore citizens would enter) and pushing up the prices there.

I would include PRs because these are basically foreigners who can quite easily get PR status in Singapore.

2) Foreigners and PRs must take loans from banks to buy properties.  This would not only boost the Singapore banking business, but the bank can also conduct a more thorough AML (anti-money laundering) screening on the foreigners.

3) To impose a non-occupancy tax on unoccupied or untenanted property to prevent property speculation;  this can also increase government tax revenue.

4) Any resale by the foreign owners/PRs can only be made to Singapore citizens.

I hope our government will seriously consider the above measures so that owning private property will not become an unattainable aspiration of Singaporeans due to the huge influx of foreigners!

AHTC saga is pure bias by the PAP will they also hold responsibilities for the damages involved?

The AIM saga , evil & greed of PAP exposed… WP got sabotaged when they won 7 Management Pte Ltd in 2010.

This, especially after the next tender for the development of the software required firms to have S$1.5 million in paid-up capital before they could bid.

AIM, a company run by former PAP MPs, had a paid-up capital of S$2 when it bought over the software.

The company paid S$140,000 for the software which cost town councils about S$24 million to develop.

AIM then leased the software to all PAP town councils for a fee, but declined to lease it to the Workers’ Party in 2011 after it won in Aljunied GRC and took over the then-Aljunied Town Council,

As a result, the WP needing to develop its own town council management software and import data of all residents into its own system.

Strangely enough, the last tender for the development of town council management software for all PAP town councils in 2013 was much stricter with firms.

The tender required firms to have an annual turnover of at least S$10 million and a paid-up capital of at least S$1.5 million, under the S9 financial grade of the government supplier registration guidelines.

AIM, which had a paid-up capital of S$2, did not take part in the 2013 tender.

NEC Asia Pacific subsequently won the tender to develop a new computer system for the 14 PAP town councils.

It clinched the 7-year contract for S$16.8 million.

Questions continue to be raised as to whether the sale of the town council management software to AIM in 2010 was against the public interest, and why the company’s S$2 paid-up capital status did not raise any red flags.

When queried about the matter, then-Minister for National Development Khaw Boon Want said on 13 May 2013 that AIM was “not any ordinary $2 company. It was set up by the PAP…That is the difference between AIM and any other “$2 company.”

A check with the Accounting and Corporate Regulatory Authority of Singapore shows that the AIM has been de-registered, with its last Annual General Meeting (yearly gathering of shareholders) held in May 2015.

At the time when it acquired the town council software, AIM was run by 3 directors who were former PAP MPs and its mailing address was the same address as the PAP’s headquarters in Bedok.

It employed 2 part-time staff, and oddly enough for a computer programming and consultancy company did not have its own website.

WP is only liable for not discharging their duties properly for AHTC, the rest still talk of evidence, Kannan Ramesh still has not proven without a doubt

WP is only liable for not discharging their duties properly for AHTC, the rest still talk of evidence, Kannan Ramesh still has not proven without a doubt, the issue of liabilities for damages suffered by AHTC and the % of liabilities still has not been substantiated, how can they close the case just like that? Contributed by Oogle.

I have a question and it is bothering me. Could somebody kindly explain and educate me. I thank you in advance.

High Court judge, Kannan Ramesh, found WP MPs, Low TK, Sylvia Lim and Pritam Singh guilty and liable for damages suffered by AHTC.

In the words of the learned judge, the defendants breached their fiduciary duties, care and skill to AHTC. “When people are put in charge of a town council, they enter into a relationship of trust and confidence. This, in turn, means that they have fiduciary duties to the town council”. Mr Kannan Ramesh went further, “So, this duty requires town councillors to serve the interest of their town council with single minded loyalty and for the proper purpose”.

Although no 2 cases are exactly the same and AMK town council’s former general manager, Victor Wong, has pleaded guilty to his corruption charges for being on the take for about 2 years, between the two cases, there are plenty of similarities.

It is easy to push the blame to Victor Wong, argue and conclude that he has been punished but Victor Wong was never an elected Member of Parliament. I repeat. Victor Wong was never an elected member of Parliament for AMK GRC.

All those 6 AMK GRC members of Parliament, namely, Lee Hsien Loong, Koh Poh Koon, Ang Hin Kee, Darryl David, Gan Thiam Poh and Intan Azura Mokhtar were totally sleeping on their jobs for about 2 years that resulted in their town council’s funds being lost through Victor Wong’s corrupt behaviours. Isn’t what happened at AMK GRC also a breach of fiduciary duties by all the 6 pap members of Parliament at the highest level at AMK GRC and a lack of care and skill too? Under their watch, like in the AHTC’s case, public funds have been lost. Shouldn’t steps also need to be instituted to recover the monies due to the residents of AMK GRC from them too? Think.

I thank you all for reading my post again.

Slowdown Yes, Technical recession Yes but no collapse in sight

Singapore could be heading for a recession after it reported a big drop in economic activity in the second quarter!

Because of the US-China trade war, Singapore has slashed its forecast for 2019 GDP growth to between 0% – 1%. This is the weakest since 2009!

Leading Asia Economist Sian Fenner of Oxford Economist even forecast Singapore might head towards a technical recession as early as Q3!

With almost all countries in the last few months busy slashing interest rates to save their economies, a worldwide recession seems a great possibility.

Despite Lee Hsien Loong’s and Heng Swee Keat’s claims of grandiose visions, it is clear that the new Singapore economy looks very much like the old one of the last twenty years. There has been no productivity transformation. The only thing that has changed is that the external environment, which provided a huge tail-wind and allowed the PAP to falsely claim credit for a bogus economic miracle fuelled by cheap foreign labour, is now working in reverse. The only question is if Singaporeans will wise up to this fact in time for the next election.