TR EMERITUS

According to Andy Chen, Deputy Editor of ST Life!, [link] German football team is like Singapore's education system. In his article he said, "Singapore's rigorous education system is increasingly being derided for the very same reasons the German football squad is now being celebrated - it drills its kids in the basics and beyond to maximise their potential." Before anything, let's provide a little bit of Germany world cup history for the benefit of non football fans. The Die Mannschaft (including the east and west days) won a total of four World Cups out of their world record of appearing in 8 World Cup finals since the inception of the competition, and have be placed third a further 4 times. Germany is also the only European country that qualified for every FIFA World Cup they were permitted to enter. It is also the only nation to have won both the men's and women's World Cups. In short, Germany is World Cup royalty. Outside their World Cup success, they also won three European Championships and one Olympic Gold. Behind the success of the German national team were darker times that bandwagoners chose to forget. One of which happened only a decade ago, not too long in football terms. Germany finished at the bottom of their group at Euro 2000 and failed to progress to the knockout stages at Euro 2004. These was defining moments that led to the decision that a radical overhaul was required. Their World Cup victory just a few days ago was the certification that not only did the Germans showed willingness to change but also carried out their conviction in decisive collectiveness. In contrast, I wonder what Andy Chen, the ST deputy editor who compared Germany's recent success to Singapore's education system will say to Singapore's very own Goal 2010 - the exciting aim to get the Lions to appear in their first World Cup Finals ever. Did our education system produce a nation of quitters who dissipate at the first sight of failure instead of carrying on the goal the manner we would expect from people who went through a 'rigorous education system that should be celebrated'? Football aside, what have Singapore's own talents produced with the current education system? Interestingly, Singapore's famous economic miracle happened from the late 1960s to 1980s when the education system back then was not so 'rigorous'. So where does such a system led us today? For the last ten years, Singapore has been on a social decline. Time and again, we are being told by our government officials that Singaporeans are not good enough and that we need foreigners to ensure our survival. As a result, a large percentage of university spots have been reserved for foreigners. In contrast, the revitalised German national football team's success was hinged on a relentless pursuit of local talent development by introducing news rules for the Bundesliga that stipulate all 36 clubs in the top two divisions must run an academy and that at least 12 players in each intake who must be locals. Since the system was introduced, the Bundesliga has changed from a 50% foreign players to having around 65% now eligible to represent Germany's national side. The success of this strategy does not limit to the Die Mannschaft, top German clubs such as Bayern Munich and Borussia Dortmund has been enjoying the rewards of having more young talented Germans in their teams, taking the gloss away from the Spanish clubs in the European Champions League in recent years. A better team to compare to Singapore's current state would be England's national side. A team which is overhyped by the media, plenty of 'boomz' as always but no results to show for. A team who believes they are much better than they are, with an FA behind them that is not liberal and willing enough make the radical changes that the English system badly needed. In the English Premier League, there has been a sharp increase of foreign players over the last two decades. Many tops teams in the leagues were regularly fielding teams with only 1-2 English outfield players in their league games. No coincidentally, the last time the English side came close to any honours was a semi final appearance in Euro '96. England die-hards find themselves reminiscing good old times of the 1966. Sounds familiar to Singapore's situation? The first question which pops up is that, behind the merits of the Singapore's education system as claimed, why is there a contradiction that the locals are constantly deemed not being good enough to lead Singapore to sustainable success, and to recreate our new miracles (not by building casinos) - by having less and not more foreigners in our set up, like how the Die Mannschaft benefited from?   A Singaporean in Australia * The author blogs at http://asingaporeanson.blogspot.com  Read More →

Dear Friends in Transition, Transitioning.org will be conducting a  networking session for those affected by the trauma of unemployment. Details are as follows:- Date: 25 Jul (Fri) Time 2.30pm to 5 pm Venue: To be confirmed The session  will essentially focus on helping  one to get out of the  rut and that with proper guidance, the arduous journey can be enriching as well. We have heard of how many people in transition lapse into depression and some even harboured suicidal thoughts. Its also not uncommon for them to seek medical  treatment – yes, it can be that bad. Unemployment can be a lonely, traumatic and painful experience especially for those who are out of work for more than three months. Days become weeks and then months and soon a whole year is over…we often wonder what hit us and there is so far no written textbook that will adequately prepare a person who is undergoing unemployment. It has to be learnt through the university of hard knocks. The uncertainty can also be crippling and one often laments when the next job will arrive. During this session, tips will be given to smoothen out those painful edges of unemployment. We will be covering the following topics:- 1. Overcoming emotional trauma- positive thinking helps 2. Financial management during unemployment 3. Methods of job searching 4. Family matters – open communication helps 5. Growing stronger after unemployment Registration is now open for those in transition to sign up for  the networking session. Please email [email protected] or [email protected] if you are interested to attend the session. The number of participants are restricted to twenty only and its on a first-come-first-serve basis. We are also inviting some employers to drop by the session and will confirm their participation once we get hold of their response. Registration is free of charge and light refreshment will be served during the session. Don’t suffer alone, come and seek support from fellow Singaporeans in transition. Unity is strength! We are here for you.   Gilbert Goh President Transitioning – unemployment support services (a ROS-registered not-for-profit organisation serving Singaporeans)  Read More →

“We believe in you for better jobs, raises and bonuses, finding money, money finding us, incomes, royalties, real estates, dividends, inheritances… We pray to Jesus and there shall be a turnaround,” sums up the essence of the prosperity gospel*. I was reminded of the above when it was reported yesterday that the trial of Kong Hee and friends was resuming. Well his god seems to have left him to swing in the wind when it comes to property investing. Reminder: he owns a Sentosa penthouse. A benefactor of Kong Hee’s church, an Indonesian tycoon, Wahju said in court a few months ago, that he and Kong have been paying $17,000 a month each for a penthouse at Ocean Drive since 2008.  The tycoon had tot it would make a gd investment. The penthouse remains underwater, not literally, of course. I was reminded of the penthouse by a BT report of a few weeks ago, that I juz read on Sunday: Sentosa condos feel the blues ABOUT two in five Sentosa condominium units have resold at a loss in the past year, symptomatic of the plight of luxury homes here, as financing restrictions put off buyers, industry watchers say. Since May last year, 31 units have changed hands at six Sentosa projects: Marina Collection, Seascape, The Azure, The Berth, The Coast and The Oceanfront, according to data compiled by STProperty.sg from URA Realis. The profitability findings is in line with data gathered by HSR Research which shows resale prices at the plush Sentosa district falling 25 per cent to about $1,800 psf in the first five months of this year, compared to around $2,400 psf over the Jan-May 2013 period**. Maybe his god thinks giving him Sun Ho and her filthy rich parents (they are paying his legal fees) is enough prosperity for one man? But he was too greedy and incurred the wrath of god? Hubris? Or maybe he is a S’porean Job: The Lord’s praise of Job prompted Satan to challenge Job’s integrity, suggesting that Job served God simply because God protected him. God removed Job’s protection, allowing Satan to take his wealth, his children, and his physical health (but not his life) in order to test Job’s character. (Wikipedia) And all will be well: God rewards Job’s obedience during his travails and restores his health and doubles his original riches. Let’s see. —————— *          Another continent, another country (poorer). But the same rationale and motivation for donating generously The service is for thanksgiving, which coincides with the first Sunday after payday. In what sounds like an economic report, the congregation is told to not worry about the first, second and third quarter of the year and that in the fourth quarter, there is still a chance to be blessed financially and materially. Congregants give testimonials describing long ambitions to land a job within government, to acquire a bigger house or a car and detailing how after fasting, praying, giving to the church, they are at last reaping the rewards. A leather-lined bin lands at Baobab’s feet. Give what you can, and you will be blessed … … In Nigeria, where decades of governments have stolen hundreds of billions of dollars of oil money but most people live on less than $2 a day, many turn to religion, believing that only God can protect them and pull them out of poverty. Note “poverty” is relative. **         Of the 31 transactions in the past year, profitability analysis could not be done for seven because caveats, which include information on purchase prices, were not lodged for the units. Profitability is calculated by subtracting purchase prices from selling prices. Of the remaining 24 transactions, 10 resold at a loss. Among the loss-making transactions, four were units at The Berth, the debut project at the Cove which was launched in 2004 and completed in 2006. Three units made losses at The Oceanfront, two at the Coast, and one at the Azure. Two in particular made seven-digit losses. A 2,982 sq ft unit at The Oceanfront sold for $5.65 million ($1,895 psf) in November last year, after it was purchased in April 2008 for $7.2 million ($2,415 psf) – a $1.55 million loss. Another 2,820 sq ft unit at The Coast sold for $4.8 million ($1,702 psf) in January this year, two years after it was purchased at $6 million ($2,128 psf). This was a $1.2 million loss. SLP International executive director … suggests that this could be due to owners struggling to find tenants for their units amid the weak leasing market. Some may also not be able to secure high enough rental rates to service their loans. (Most Sentosa homes are bought not for own occupation, but as investment.) “So they may find it a better option to just liquidate,” he said, adding that the location is also not the most convenient for expats to commute to the mainland for work. Another industry watcher added that buyers who bought units at $2,100 psf and above appear to have “overpaid”. Those who profited from their resale deals mostly bought in at lower psf prices; a handful even got their units at $800, $900-plus psf back in 2006. Meanwhile, several Sentosa Cove units are also up for sale at auction houses here. A 2,777-sq-ft unit at Turquoise condo, put up for sale by a lender at a Colliers’ auction this week, yielded no bids, despite having reduced its opening price to $4 million from its previous $5 million. Two Sentosa homes are up for auction by DTZ, both by lenders, one at Turquoise and another at Marina Collection. Another four are for sale by private treaty (akin to private negotiations) by JLL – two at Turquoise and two at Marina Collection. Typically, banks repossess homes and put them up for auction as part of a repayment structure when delinquent mortgagors (borrowers) are unable to find buyers and dispose of their properties themselves. JLL’s head of auction … aid: “The owners of the two Turquoise units bought them at $7 million each, which is quite difficult to match in the current market. “Auctioning is a good method to garner all interested parties in a room to competitively bid. Potentially, the owner can also expect to get the optimum price because it’s a competitive method of sale.” Meanwhile, some Sentosa condos such as Cape Royale and The Residences at W have made strategic decisions to lease out their unlaunched units instead, given current soft condo prices on the Cove. Roaring sales in the waterfront enclave back in 2006-2008 were hit by the financial crisis and had hardly recovered when the private housing market succumbed to successive rounds of cooling measures from 2009 … “For property prices anywhere, what goes up will also come down.”   Cynical Investor [Source]: Thoughts of a Cynical Investor (http://atans1.wordpress.com).    Read More →