TR EMERITUS

SP group has announced another 3.5% electricity tariff hike for Q1 2020, bringing the tariff to the highest in 5 years! They issued a bare statement yesterday saying energy costs had increased to justify the tariff hike but no details were given. To say that both the SP group and the EMA owe Singaporeans a substantial explanation how energy costs have increased would be an understatement! Why Are Electricity Tariffs Rising To A 5 Year High When LNG Prices Have Plummeted 43%? Read this brilliant analysis by Phillip Ang which will make your blood boil:   The Singapore consumer now has to bear even more financial burden in the New Year for an essential utility. This is outrageous and simply not acceptable as SP group has been averaging profits of around $1 Billion for the last 13-14 years. There is overcapacity of our electricity supply to the tune of 48%. So why then is the Singapore consumer having to fork out more and more for items essential to life? But we should not be surprised. This is the trajectory Singaporeans must expect if the PAP continues in government. Under Mr. "New Taxes" Heng and his colleagues, they will be finding new ways to increase taxes, whether direct or indirect, so as to increase revenue for the government. If you need any proof, please read Mr “New Taxes” Heng’s Budget Speech Of 2017. In this coming GE in 2020, Singaporeans must ask themselves a simple question: Should we be making ourselves better off or are we here to make Government rich? I submit that for the last 30 years, Singaporeans have become poorer whilst the government has become fabulously rich at the People’s expense. Once you answer this basic question, your choice on who to vote for will be clear.   Lim Tean      Read More →

It was reported our Foreign Minister Vivian Balakrishnan and Senior Parliamentary Secretary for Manpower Low Yen Ling have visited Filipino causalities of the unfortunate Lucky Plaza car accident in hospital. While I welcome their kind gesture, I would like to put things in context. After seeing that picture, my mind uncontrollably drifted back to the recent Bukit Batok fire victim who succumbed to her injuries and the late Corporal Aloysius Pang who passed away in a training accident. I ask if any of the PAP Ministers visited the lady when she was fighting for their life in hospital? Over at Wisma Geylang Serai (which was just about 3km from where Aloysius Pang's wake was held), PM Lee reportedly attended some community events there. Did he bother to make that short trip to briefly attend the wake, show his face, comfort and console the bereaved family and show some concerns for a fellow fallen Singapore son? I hope that I am wrong on this one, but I wish that their motivation for visiting that maid was out of genuine concern for her rather than to placate the Filipino community in Singapore.   Simon Lim      Read More →

Call it what you like. A fool's errand or a firebrand challenge. Ruling party may take it as unsolicited feed-back. Opposition parties may consider it support ammunition. As for me, I'm just wishing for stuffs in my Xmas stocking. With election around the corner, it's time to survey the political landscape and see the offerings. In Singapore, political party ideologies are not well defined as in the West. On the political spectrum, the PAP is on the Right, polishing the meritocracy medal with their ethos of every man for himself, to each his own efforts. On the Left are all opposition parties with their bleeding hearts for more-re-distribution to benefit the poor. To be fair, nobody's on the extreme Right or Left. Whilst the PAP is all globalist capitalism and ensconcing elitism, it tries to build social safety nets, although many will question its adequacy given the rise in poverty and cost of living.  Neither are opposition parties ideologically socialists simply because they want to see the poor better taken care of. They are not Robin Hood, out to take from the rich to give they poor. A vote for PAP is for status quo, a bowing to a supercilious elitist oligarchy who has made life very good for one segment of the population - the rich, the well-connected, the business owners, and the well-educated who are gainfully employed. A vote for the opposition is a protest vote by Earth-scorchers, people prepared to see a change, any change is better than the PAP for various issues that irk them. The battle lines are issue specific. Opposition parties have laid out the issues they are fighting against. One thing the opposition is not, and that is riding on populist lines the way many other countries have been torn apart. "Singapore first', or 'take back our country' ought to be legit cries in a tiny country where 4 out of every 10 residents are non-Singaporeans and 40% of the workforce are foreigners. Some opposition parties have published their manifesto or spoken out on issues. However,  many have been simply generalisations, such as abuse of power, incompetence, loss of freedom of speech, non-accountability, loss of jobs to foreigners, shifting goal post of CPF withdrawals, eroding value of HDB, rising cost of services, neglect of the poor, etc.  I would like to see more specifics of which I list below, not necessarily in order of priority. 1. Set up a Truth Commission The commission to be tasked with investigation into possible past wrongdoing of state and non-state actors in the past with the objectives of (a) setting historical records straight, (b) pursuing restorative justice where transgressions have been discovered, (c) improve on weaknesses of regulation or legislation if any. The specific areas to focus: - Who were the state actors who purchased pre-war properties - The truth about Operation Spectrum - The charges against Phey Yew Kok - The truth about ex-president Devan Nair 2. Statement of Family Members by MPs: - On assuming office, MPs to provide SFM to 2nd degree of consanguinity. - To obtain from MPs past and present SFMs for the purpose of (1)(3)(4)(5)(6)(7). 3. Statement of Assets and Liabilities by MPs: - On assuming office, MPs to provide SAL. - To obtain from MPs past and present SALs from start date to 2019 - Deemed ownership includes those of children and spouse. Holdings far in access of their capabilities require explanations. 4. Bonus shares of GLCs: List bonus shares issued to all political appointees and connected actors. 5. Cabinet member salaries: Re-evaluate salaries of MPs and cabinet members. 6. Depoliticisation of actors and institutions: Depoliticise the civil service, PA, CCC, grass-roots organisation, HDB, GLCs, social institutions, trade unions etc. The role of PA and CCC to be reviewed. These 2 institutions of non-elected actors have operated on the basis of partisanship and acted with great bias towards wards run by opposition. 7. Dismantle the spider web of political connections in various institutions: The political domination of the same ruling party for 54 years have seen an incestuous network of the politically connected and their relations embedded in all aspects of life in the country. We need a breadth of fresh air into this suffocating environment. Where necessary, political appointees and connected persons whose only reasons for being in the position is their connection, to be removed. 8. Town councils: - MPs to refocus on legislative responsibilities and no direct involvement in the running of town councils. - Doctrine of exclusiveness as regards access to state resources to be ceased. All electoral wards to have equal rights to state resources notwithstanding which political party runs the ward. 9. Privy Council of UK as Final Court of Appeal: Re-instate the right of final appeal to the Privy Council of UK. This is not a regressive step but a bold statement of the independence of the Judiciary. The reason is, with a small population of 3.5m citizens, we have too small a base to produce brilliant legal minds. As Singapore establishes itself as an international centre of excellence, this will certainly have the endorsements of all denizens of whatever nationalities. 10. Libel case laws: Repeal all precedents of local political libel cases and re-subjugation to universal libel case laws. The PAP will reel in horror of this suggestion if they win the election, but likely to support this idea if they loose. 11. Review POFMA: Some form of curtailing online falsehoods is acceptable but the current arrangements are open to abuse by Ministers. A proper review is necessary and this time, to really allow participation by all stakeholders. 12. Referendum: Legislate a requirement for a national referendum on amendments to the Constitution, the powers of the President, and Presidential Elections Act. 13. Presidential qualification: To review the criteria for qualifying candidates in presidential elections. The current bar is too high. Just imagine if other countries had adopted the same principles, there can never be a Mandela, Deng Xiao Ping, Winston Churchill, and others. 14. Strengthen the Law Society: The Bar Association is a mainstay of democracy in a country. This is called the Law Society in Singapore. The shackles for voicing dissent or criticism of legal matters must be thrown away. The Society must regain it's rightful role as a staunch and fierceless voice of conscience for the people. 15. Change in Companies Act: - Private exempt companies to file financial returns. Not doing so allows illicit and improper corporate activities to hide behind a veil of ACRA exemptions. - Practice of nominee shareholdings to be abolished. This is an antiquated practice of the past where physical scripts were required. Nominee shareholdings is an affront to an open market. It facilitates the concealment of improprieties. 16.  Freedom of Information: An FOI Bill should be introduced. 17. Smaller government: Rationalise and shrink the government which has been bloated over the years in abeyance to Parkinson's Law. More specifically, abolish the practice of layering approach of the government which has resulted in duplication and higher costs. The Doctrine of Subsidiarity should be practiced. Why should the government, through its various agencies and institutions, be running small little business like childcare and others. 15. Review CECA: - Produce a Balance Sheet on CECA and review the bilateral agreement. - Conduct an inquiry into who wanted the article of labour mobility inserted and why. 16. Temasek & GIC: - Conduct independent financial analysis and report on the state of affairs. - Re-install full governmental control. - Report on executive compensation paid. - Re-evaluate on the principles for sovereign wealth fund investment. Should it be wealth maintenance or profit maximisation at high levels of risks. To reign in the increasing move towards leveraged investment. 17. Incentive grants: List all the commercial grants and incentives provided by the government indicating the quantum and the recipients. 18. CPF: Restore CPF withdrawal rights on the basis of what the contributors signed up. If a contributor started CPF contribution in a particular year, he should be allowed to withdraw according to the standing regulations then. The goal post should not change since people make their long term plans based on the parameters when they signed up. 19. Wealth transfer tax: Death duties and capital gains tax to be re-established. It should not be crippling, but a progressive rate should apply. 20. Social redistribution: To make a proper detailed study of the state of poverty in Singapore. Metrics currently available are insufficient. To establish metrics on citizens as distinct from just residents. To establish a poverty line. Determine the real state of affairs and to consolidate all safety nets available to one coordinating agency. Determine the quantum of assistance to be raised. 21. HDB Pricing: Conduct a public inquiry into the basis of HDB pricing. To determine if HDB pricing strategy was the benchmark used to prop up the private real estate which distorts price discovery. HDB must return to its proper role of providing public housing, its determinant utility is affordable public housing. 22. Public transport and electricity: To re-evaluate the cost effectiveness of nationalised and deregulated services. Singapore market seems too small for full deregulation, the benefits of which are lost through duplication and faux competition. 23. 5G implementation: A proper health review has to be conducted. There is no need to rush to be number #1 in 5G technology. The public needs to understand the health issues - what's proven, what's possible, what studies have been made. 24. 10m population: To be rejected outright. What an irony to save and struggle and pour so much resources into all those land reclamation projects in the past so that we have more breathing space, only to bring in millions of immigrants and turn on the pressure cooker again. These are just my first few priorities. No doubt the reader will have his/her own list. My list covers almost all current issues contributing to the angst of the people struggling to live dignified lives in the most expensive city in the world. What I have glaringly left out is the issue of diminishing value of HDB apartments and associated inadequacy of retirement funds. The reason is simple. I do not share the views of many that they have been cheated and lied to about their HDB flats. It is understood leaseholds have depreciating values. If a person has emptied his retirement funds in his CPF to purchase a leasehold property, the consequences are obvious. My only concern in this regards is whether HDB pricing is fair and that changes to CPF terms should only apply to new entrants to the fund. Pat Low *The author blogs at https://chem-post.blogspot.com/    Read More →