11 Mar 2020 (6pm - 10pm)
REACH
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https://www.straitstimes.com/politics/st-bt-budget-roundtable-companies-too-must-adopt-technology-and-transform-dpm-heng?cx_testId=20&cx_testVariant=cx_1&cx_artPos=3#cxrecs_s
📢 TOPIC 📢
During this period, in what ways can the Government further support businesses in adopting technology to remain competitive?
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[6:28 PM, 3/11/2020] Ricky Lim:
During this virus epidemic period, increasingly there will be a need for workers to work remotely at home.
Thus digital tech will be needed by Enterprises (esp SMEs that lack such expertise) to facilitate workers to telecommute at home and reduce the chances of mass infection at work.
Government can provide funding or subsidy for tech-enabler to help this Enterprises and SMEs.
The following are tech enable areas that can help enterprises and workers.
(A) Secure Remote access technologies - eg. SSL VPN, VPN for secure access and remote login
(B) Office productivity tools eg. spreadsheet, words document, presentation, office email
(C) Cloud apps or eCommerce apps eg. , Web portal for file sharing, clouds apps for eCommerce transactions.
(D) Remote communication eg. multi-parties Video conferencing, teleconferencing, whatspp, telegram text conferencing - for remote meeting and collaboration.
Note :- In future when this virus epidemic is over, such work flexibility will also help workers to be productive --- and will be especially helpful to retain staff.
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[6:42 PM, 3/11/2020] Ricky Lim:
(1) Also last year our NIRC (Net Investment Return Contribution) is about $18 billion over.
(2) That means our investment income last year in total is about $36 billion.
(3) Since $18 billion has been used as NIRC to fund this year 2020 Budget and another $18 billion investment income is still available.
(4) Is there a need for the Government to draw on the reserve to fund the additional Budget - should the virus epidemic prolong?
(5) We should have another $18 billion investment income to tap on --- without the need to draw from the reserve.
(6) As the reserve are long and mid term investment --- that will have already sink in as investment to earn the investment income.
(7) Prematurely withdrawing from the reserves --- will cause 2 implications :-
a. Prematurely terminating the investment that have good earning potential.
b. Making a loss for investment just invested for mid or long term.
(8) Drawing from the investment income ($18 billion) if investment have not been made - will not impair the earning potential of the reserves.
(9) In addition, it will not reduce the NIRC and future investment income for subsequent years - as our captial are depleted and drawn out for the additional Budget 2020 to fight the virus.
During this virus epidemic period, increasingly there will be a need for workers to work remotely at home.
Thus digital tech will be needed by Enterprises (esp SMEs that lack such expertise) to facilitate workers to telecommute at home and reduce the chances of mass infection at work.
Government can provide funding or subsidy for tech-enabler to help this Enterprises and SMEs.
The following are tech enable areas that can help enterprises and workers.
(A) Secure Remote access technologies - eg. SSL VPN, VPN for secure access and remote login
(B) Office productivity tools eg. spreadsheet, words document, presentation, office email
(C) Cloud apps or eCommerce apps eg. , Web portal for file sharing, clouds apps for eCommerce transactions.
(D) Remote communication eg. multi-parties Video conferencing, teleconferencing, whatspp, telegram text conferencing - for remote meeting and collaboration.
Note :- In future when this virus epidemic is over, such work flexibility will also help workers to be productive --- and will be especially helpful to retain staff.
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[6:42 PM, 3/11/2020] Ricky Lim:
(1) Also last year our NIRC (Net Investment Return Contribution) is about $18 billion over.
(2) That means our investment income last year in total is about $36 billion.
(3) Since $18 billion has been used as NIRC to fund this year 2020 Budget and another $18 billion investment income is still available.
(4) Is there a need for the Government to draw on the reserve to fund the additional Budget - should the virus epidemic prolong?
(5) We should have another $18 billion investment income to tap on --- without the need to draw from the reserve.
(6) As the reserve are long and mid term investment --- that will have already sink in as investment to earn the investment income.
(7) Prematurely withdrawing from the reserves --- will cause 2 implications :-
a. Prematurely terminating the investment that have good earning potential.
b. Making a loss for investment just invested for mid or long term.
(8) Drawing from the investment income ($18 billion) if investment have not been made - will not impair the earning potential of the reserves.
(9) In addition, it will not reduce the NIRC and future investment income for subsequent years - as our captial are depleted and drawn out for the additional Budget 2020 to fight the virus.
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[6:52 PM, 3/11/2020] Ricky Lim:
(1) If the Government draw on past reserve to fund this additional Budget 2020 to help fight the prolong virus ---- it is not a good news for us ---- as this means less investment income and NIRC will be earn for subsequent years.
(2) This mean, to make up for the lost investment income and depleted NIRC --- Singaporeans in future will have to pay more tax --- to make up for the depleted NIRC to fund future fiscal budget.
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(1) If the Government draw on past reserve to fund this additional Budget 2020 to help fight the prolong virus ---- it is not a good news for us ---- as this means less investment income and NIRC will be earn for subsequent years.
(2) This mean, to make up for the lost investment income and depleted NIRC --- Singaporeans in future will have to pay more tax --- to make up for the depleted NIRC to fund future fiscal budget.
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[6:58 PM, 3/11/2020] Ricky Lim:
(1) If worst come to worst, when there is a need to draw on reserve --- suggest that the Government borrow from the reserve as "Debt" that attract "debt interest".
(2) In this way, there will be impetus for the Government to repay the "Debt" plus "Debt interest" --- the moment the virus epidemic blow over and the Economy recover.
(3) In future, the drawing from "reserve" --- will not be an imperative "Godfather" --- that we always tap on --- but a "penalty of last resort".
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[7:02 PM, 3/11/2020] :
https://www.smeportal.sg/content/tech-depot/en/tech-solutions/finance-management/smecen-sme-cloud-exchange-network.html 120 dollars per month for mid size SME is cheap, but not for MSME.
[7:02 PM, 3/11/2020] :
https://smecen.com/
Interesting, got OCBC backing
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[8:48 PM, 3/11/2020] Ricky Lim:
Singapore to shift approach, 'double down' on COVID-19 measures within country: Lawrence Wong
By Jalelah Abu Baker
@JalelahCNA
10 Mar 2020 11:52PM
(Updated: 11 Mar 2020 11:17AM)
Singapore has to shift its approach towards containing COVID-19 within the country, as the virus spreads worldwide and border controls become less relevant and effective in the future, Minister for National Development Lawrence Wong said on Tuesday (Mar 10).
"As the virus spreads to countries everywhere, country-specific border control measures will become less relevant and effective because we are unable to shut Singapore from the world. We have to now shift our approach," said Mr Wong.
The authorities will have to double down on measures within Singapore, even as some basic surveillance at the borders continue, said the minister, who is the co-chair of a multi-ministry task force set up to handle the coronavirus.
REVIEWING ADVISORY ON LARGE-SCALE EVENTS
An advisory on large-scale gatherings has set the threshold for attendees in the thousands, but if this was adjusted to 500, it would affect religious services and weddings, he said.
Responding to a question on whether the National Day Parade (NDP) on Aug 9 will be affected, Mr Lawrence Wong said: “For large-scale events, we are reviewing all the measures.”
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