03 Jun 2020 (12pm - 8pm)
REACH
[11:43 am, 05/06/2020] : Dear contributors,
Welcome back! Our chat will be open from 12pm to 8pm today.
Please be reminded to be respectful and considerate to others in this WhatsApp chat group.
The topic will be posted shortly.
REACH
[11:44 am, 05/06/2020] : [Sent by Gov.sg - 5 Jun]
Cautious approach towards Phase Two
COVID-19 may resurge if too many activities resumed too quickly
➡ Govt will then need to reimpose strict measures, defer Phase Two
💪 Critical for all to be socially responsible
Remain vigilant
🤒 Undetected cases in the community, infections in dorms remain
🌊 Some countries experiencing 2nd wave after reopening
Learning from other countries
- Most are cautious in lifting restrictions
- Have limited social interactions, restricted mixing of households
- Used digital solutions, similar to TraceTogether, SafeEntry
Do your part, be socially responsible, stay vigilant
Go.gov.sg/jun4moh
REACH
[12:00 pm, 05/06/2020] : Through schemes introduced under the Budget and supplementary budgets this year, the government is focused on creating jobs and helping businesses tide over these tough times.
📢 Topic 📢
These pathways will come through the nearly 100,000 opportunities - jobs, traineeships and skill training places - which the Government aims to generate in the next 12 months via the SGUnited Jobs and Skills package. In the meantime, how can we enhance our employability?
During the parliamentary debate held on 4th June, the Government introduced new measures which aims to help job seekers. It includes the setting up of satellite career centres in all Housing Board Towns and training of 3,000 Singaporeans in the technology-related jobs.
Said Minister Josephine Teo: "We will spare no effort to open up new pathways for job seekers and guide them appropriately, as big a push as we can muster". She also added that "for matches to happen, I urge job seekers to keep an open mind - stay open to pathways that you would not have considered previously".
👉https://www.straitstimes.com/singapore/satellite-career-centres-may-be-set-up-in-all-24-towns-to-help-job-seekers-josephine-teo?utm_source=STSmartphone&utm_medium=share&utm_term=2020-06-05+09%3A48%3A21
👉https://www.channelnewsasia.com/news/singapore/company-training-programme-3000-singaporeans-tech-jobs-iswaran-12803204
👉https://www.straitstimes.com/politics/more-than-10000-workers-displaced-or-at-risk-of-retrenchment-matched-with-new-jobs-by-ntuc?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-06-05%2010%3A06%3A35
Boon2
[12:26 pm, 05/06/2020] : 👍👍👍
REACH
[12:30 pm, 05/06/2020] : Singapore should still celebrate NDP amid COVID-19, not allow ‘despair’ to prevail: Ng Eng Hen
More: https://www.channelnewsasia.com/news/singapore/covid-19-ndp-parade-fun-pack-cost-ng-eng-hen-12806804
[12:31 pm, 05/06/2020] : National Day fun pack to contain 12 items including hand sanitisers, thermometer, face mask, flags
More: https://www.channelnewsasia.com/news/singapore/ndp-fun-pack-hand-sanitisers-thermometer-face-mask-12806874
[12:34 pm, 05/06/2020] : Instead of focusing solely on keeping jobs, job placement and re-skilling etc, we can also consider schemes for entrepreneurship. Some retrenched staff may wish to take the opportunity to start their own business. The current Sgstartup grant is not attractive enough to attract entrepreneurs and has low take up for the following reasons:
1. Low grant quantum
2. Lack of transparency in assessment criteria for grant
3. Limited scope of support able businesses for the grant
To encourage entrepreneurs we need to consider increasing the grant quantum and be transparent about the requirements to obtain the grant and also expand the scope for this grant.
[12:35 pm, 05/06/2020] : This will keep retrenched staff employed and create more jobs in the medium to long term.
[12:36 pm, 05/06/2020] : And would be more effective than job placement grants/ salary support schemes.
REACH
[12:32 pm, 05/06/2020] : Contact tracing devices to be rolled out 'soon', distributed to everyone in Singapore
The Government is developing and will "soon" roll out a portable and wearable contact tracing device, Minister-in-charge of the Smart Nation initiative Vivian Balakrishnan told Parliament on Friday (Jun 5).
More: https://www.channelnewsasia.com/news/singapore/covid-19-contact-tracing-device-trace-together-app-12806842
[12:37 pm, 05/06/2020] ☸️ Danny 心:
This wearable contact tracing device - I 100% support.
News article say government discussion with Apple on tracetogether Bluetooth apps has not received satisfactory results.
So download tracetogether app not mandatory.
So our observation about the security risk is indeed a valid concern.
Government good job!
[12:42 pm, 05/06/2020] ☸️ Danny 心:
The wearable contact tracing device cost the government some money - but it is a worthwhile investment.
It gives the people a piece of mind in contact tracing to make us safe.
It also make people's handphone data safe.
Well done!
Ken
[12:43 pm, 05/06/2020] : This kind we have, in Our university.
Example NUS incubator
[12:43 pm, 05/06/2020] : Way back in the days like SMU I also heard of such program
Caleb
[12:43 pm, 05/06/2020] : not everyone will want to wear wearable. so maybe either tracetogether or werable
Ken
[12:43 pm, 05/06/2020] : But Singaporean risk averse is the main reason...
Leonard Lau
[12:44 pm, 05/06/2020] : The issue isn’t related to security but rather Apple iOS issue .
[12:44 pm, 05/06/2020] ☸️ Danny 心:
You don't have to wear. Put in pocket good enough.
[12:45 pm, 05/06/2020] ☸️ Danny 心:
Whatever as long as we don't need to install that apps that people don't feel comfortable with.
[12:46 pm, 05/06/2020] ☸️ Danny 心:
Until now Bluetooth is still a risk.
Eugene
[12:46 pm, 05/06/2020] : agree.. some people might not want to wear it unless the govt make it mandatory
Caleb
[12:47 pm, 05/06/2020] : later drop and lost how
[12:48 pm, 05/06/2020] ☸️ Danny 心:
You dropped your phone and lost how?
Caleb
[12:48 pm, 05/06/2020] : werable so small, can drop out of the pocket
[12:48 pm, 05/06/2020] ☸️ Danny 心:
Then wear it.
Caleb
[12:48 pm, 05/06/2020] : Hp is essential, once drop will know one. lol
[12:49 pm, 05/06/2020] ☸️ Danny 心:
Then pay for it.
Caleb
[12:49 pm, 05/06/2020] : anyway werable u need to connect back to hp and wifi to upload the data
[12:49 pm, 05/06/2020] : lol
[12:49 pm, 05/06/2020] ☸️ Danny 心:
Agree should make it compulsory.
[12:51 pm, 05/06/2020] ☸️ Danny 心:
You don't have to do it. Govt will do it.
It is meant for people with no hp.
Caleb
[12:51 pm, 05/06/2020] : wearable might be worst, if got hack.
Usually wearable have lesser security in built
Stan
[12:53 pm, 05/06/2020] : Will folks feel like its a prisoner tracker?
Ken
[12:53 pm, 05/06/2020] : You are less likely to lose your phone than some random device that you have no benefit or keeping other than for government tracking ease
Leonard Lau
[12:54 pm, 05/06/2020] : Agree ; and hope it is not a wrist band
WJ
[12:55 pm, 05/06/2020] : What's the minimum age to use TraceTogether?
Ken
[12:55 pm, 05/06/2020] : We use to wear the walk counter lol... nothing new but that can claim points for money or voucher..
[12:55 pm, 05/06/2020] ☸️ Danny 心:
Then those who like to use tracetogether download lor.
Security risk is your responsibility.
The rest can use wearable and make sure we take care of it.
Caleb
[12:55 pm, 05/06/2020] : hopfully can use it for SafeEntry too
Ken
[12:55 pm, 05/06/2020] : iPhone don’t let them run in the background 😅, for iPhone user quite hard to keep opening it
Caleb
[12:55 pm, 05/06/2020] : need to charge the wearable too
David Murugan
[12:56 pm, 05/06/2020] : 👍 welcome move.
Leonard Lau
[12:56 pm, 05/06/2020] : As an iphone user , I am paranoid. Hence install it on my Android phone .. it works as Breeze .
Stan
[12:57 pm, 05/06/2020] : The diff may possibly benthat a walking tracker is self tracking but this one is ah gong tracking you.
Ken
[12:57 pm, 05/06/2020] Only have iPhone or me.. and bringing extra phone also troublesome.. it is possible to install in smear wearables?
Leonard Lau
[12:57 pm, 05/06/2020] : By the time we roll out the wearable , we already got some kind of herd immunity .
Ken
[12:57 pm, 05/06/2020] : Smart”
[12:58 pm, 05/06/2020] : Like existing Iwatch, smart watches
Caleb
[12:58 pm, 05/06/2020] : how are we going to identify,whos wearable if all look the same in a same household?
Leonard Lau
[12:58 pm, 05/06/2020] : I got it installed on a dumb old android tablet . Just put it in my bag powered up only when outside the home .
[12:58 pm, 05/06/2020] : 🤣
Ken
[12:59 pm, 05/06/2020] 😅 my MIL took my walk counter last time from HPB haiz
David Murugan
[12:59 pm, 05/06/2020] : It should have some tagging if not confuse which one is whose too.
Ken
[12:59 pm, 05/06/2020] : Then was wondering why cannot sync
Stan
[12:59 pm, 05/06/2020] : Agree, defeats the purpose. Morning go work all go diff directions
Caleb
[1:00 pm, 05/06/2020] : with reg or NRIC
Leonard Lau
[1:00 pm, 05/06/2020] : Each device will be registered delicately with the system .. but it does not mean a success .. people may just be happy to keep it at home
Caleb
[1:00 pm, 05/06/2020] : guess it will be compulsory to use either tracetogether or wearable
Leonard Lau
[1:01 pm, 05/06/2020] : Haha .. how to enforce
[1:01 pm, 05/06/2020] : The Crux is that people just don’t want to be track where they go
Caleb
[1:02 pm, 05/06/2020] : guess it will take some time to find a suitable wearable and mass product and issue
David Murugan
[1:02 pm, 05/06/2020] : I agree too, don't open too fast, cos community cases also going up from 2nd Jun.
Wonder what is today one like?
Leonard Lau
[1:02 pm, 05/06/2020] : By then we would have achieved herd immunity ..
Caleb
[1:03 pm, 05/06/2020] : 👍
[1:03 pm, 05/06/2020] : 😂
Desmond Koh
[1:07 pm, 05/06/2020] : haha actually install on android more dangerous than iPhone
Leonard Lau
[1:07 pm, 05/06/2020] : The initial idea of trace together is to save lives and help the contract tracing team to speed contact tracing ..
Since the society isn’t ready , it will be same issue with the wearable until a change in mindset .
[1:08 pm, 05/06/2020] : Haha .. I installed on an old tablet with some crush candies data .. let it burn if the hacker decide to fry it ..
Rama
[1:09 pm, 05/06/2020] : Agree
Desmond Koh
[1:09 pm, 05/06/2020] : ya then is ok haha
at least not POKEGO data hahaha
Ken
[1:10 pm, 05/06/2020] : Our public place we already see so many people, on and off new to be policed to follow rules.. social responsibility is the only way we can fight this
[1:10 pm, 05/06/2020] : Need to be”
Leonard Lau
[1:11 pm, 05/06/2020] : I am an Apple hardcore and understand Google technology well . I still prefer fruits than all the candies .
Ken
[1:11 pm, 05/06/2020] : 🤣 same here
Desmond Koh
[1:11 pm, 05/06/2020] : 💯
Desmond Koh
[1:12 pm, 05/06/2020] : its likely to be BTLE though haha
track you 24/7 haha
Leonard Lau
[1:13 pm, 05/06/2020] : Actually also not the iOS issue .. it is the way the Apple protects the os system ，that’s why the apps has to be on foreground .. pls correct me if I am wrong
REACH
[1:22 pm, 05/06/2020] : Singapore building vaccine-manufacturing capacity in Covid-19 fight, says PM Lee
The Republic is building up its vaccine-manufacturing capacity even as researchers around the world race to develop one for Covid-19.
Prime Minister Lee Hsien Loong said on Friday (June 5) that Singapore intends to offer fill-and-finish contract manufacturing services to vaccine developers.
More: https://www.straitstimes.com/singapore/health/singapore-building-its-vaccine-manufacturing-capacity-in-covid-19-fight-says-pm-lee
[1:25 pm, 05/06/2020] ☸️ Danny 心:
Bluetooth no security risk to handphone?
Then do it at your own risk.
[1:29 pm, 05/06/2020] ☸️ Danny 心:
https://www.abc.net.au/news/2020-05-14/experts-concerned-about-coronavirus-tracing-covidsafe-security/12245122
[1:30 pm, 05/06/2020] +65 9651 4778: Become like covicts
[1:32 pm, 05/06/2020] ☸️ Danny 心: https://www.forbes.com/sites/zakdoffman/2020/05/22/contact-tracing-apple-google-coronavirus-security-update-android-iphone/#6515f08e1d59
[1:33 pm, 05/06/2020] ☸️ Danny 心:
If you trawl the net, you will find tons of articles questioning the security of Bluetooth apps.
Call a spade a spade.
If Bluetooth security is a risk - say so.
No need to sugar coat it.
[2:03 pm, 05/06/2020] : 👍
Desmond Koh
[2:07 pm, 05/06/2020] : Eh I just read the article....
Big brother said:
However, the Government has decided not to make the download of the app compulsory as it does not work equally well across different smartphone operating systems, Dr Balakrishnan said.
Apple's iOS suspends Bluetooth scanning when the app is running in the background, meaning users have to leave it in the foreground, without using other apps.
"We've had repeated discussions at both the technical and policy level with Apple, but we have not yet been able to find a satisfactory solution," Dr Balakrishnan said.
This is not security concerns lei...
[2:09 pm, 05/06/2020] : So once APPLE can resolve the background scanning issues, it’s likely to be compulsory... look at the dorms worker
Extract:
Authorities have also made it compulsory for migrant workers living in dorms to download the app, and Dr Balakrishnan urged more people to do the same.
I think the reason was because most workers is using Android, which have no problem scanning in background
[2:14 pm, 05/06/2020] : And I’m guessing the wearable is providing another options but mainly targeting elderly (using feature phones) and kids (hang in neck)...
[2:14 pm, 05/06/2020] : And inclusion to physical and mentally disabled folks
[2:18 pm, 05/06/2020] ☸️ Danny 心:
Read all the international journal - and tell us whether is it a security issue?
[2:19 pm, 05/06/2020] ☸️ Danny 心:
Check with IT security experts - and tell us whether is it a security issue?
Desmond Koh
[1:35 pm, 05/06/2020] : iOS have this UI/UX concepts of wanting you to focus on one thing and battery protection, so once the app go to the background.. the app only have 3 or 15 mins keep alive time.. as it assumed u not using it..
Rama
[1:35 pm, 05/06/2020] : Yes
Ken
[1:35 pm, 05/06/2020] : Everything also have risk bah... the more user, the higher the rewards. Hence, people will try to find way to exploit weakness in the system.
As long as there is human no system is perfect.
Desmond Koh
[2:07 pm, 05/06/2020] : Eh I just read the article....
Big brother said:
However, the Government has decided not to make the download of the app compulsory as it does not work equally well across different smartphone operating systems, Dr Balakrishnan said.
Apple's iOS suspends Bluetooth scanning when the app is running in the background, meaning users have to leave it in the foreground, without using other apps.
"We've had repeated discussions at both the technical and policy level with Apple, but we have not yet been able to find a satisfactory solution," Dr Balakrishnan said.
This is not security concerns lei...
[2:09 pm, 05/06/2020] : So once APPLE can resolve the background scanning issues, it’s likely to be compulsory... look at the dorms worker
Extract:
Authorities have also made it compulsory for migrant workers living in dorms to download the app, and Dr Balakrishnan urged more people to do the same.
I think the reason was because most workers is using Android, which have no problem scanning in background
[2:14 pm, 05/06/2020] : And I’m guessing the wearable is providing another options but mainly targeting elderly (using feature phones) and kids (hang in neck)...
[2:14 pm, 05/06/2020] : And inclusion to physical and mentally disabled folks
[2:18 pm, 05/06/2020] ☸️ Danny 心:
Read all the international journal - and tell us whether is it a security issue?
[2:19 pm, 05/06/2020] ☸️ Danny 心:
Check with IT security experts - and tell us whether is it a security issue?
Leonard Lau
[2:20 pm, 05/06/2020] : Did Min Vivian Balakrishan said in Parliament that this BT is a security issue ?
[2:21 pm, 05/06/2020] ☸️ Danny 心:
Is he an IT security expert?
Desmond Koh
[2:21 pm, 05/06/2020] : Eh please compare Apple to Apple.
U said the reason was security in the article, I will just stating is not lei...
Desmond Koh
[2:21 pm, 05/06/2020] : He is minister in charge of Smart Nation
Leonard Lau
[2:21 pm, 05/06/2020] : So is he lying in the Parliament ? His parliamentary script is published .
[2:22 pm, 05/06/2020] ☸️ Danny 心:
Go ahead to sugar coat if you want.
But knowledgeable people outside are not stupid.
[2:23 pm, 05/06/2020] ☸️ Danny 心:
I did not say he is lying.
He just did not say about IT security doesn't mean there is no IT security issue.
Leonard Lau
[2:23 pm, 05/06/2020] : Contact tracing devices to be rolled out 'soon', distributed to everyone in Singapore
The Government is developing and will "soon" roll out a portable and wearable contact tracing device, Minister-in-charge of the Smart Nation initiative Vivian Balakrishnan told Parliament on Friday (Jun 5).
More: https://www.channelnewsasia.com/news/singapore/covid-19-contact-tracing-device-trace-together-app-12806842
@☸️ Danny 心 are you quoting out of context ? When you share the message with us ?
[2:23 pm, 05/06/2020] ☸️ Danny 心:
Did I share this article or reach share this article?
[2:24 pm, 05/06/2020] ☸️ Danny 心:
I was sharing all the international journal about Bluetooth security.
Leonard Lau
[2:25 pm, 05/06/2020] : Please comment Danny on your own post
[2:28 pm, 05/06/2020] ☸️ Danny 心:
I have in many posts commented about Bluetooth security supported by international journal.
I say govt discussion with Apple did not achieve satisfactory result.
The security issue that I highlighted is my personal comments supported by international journal.
I did not say the Minister say so.
Leonard Lau
[2:29 pm, 05/06/2020] : I rest my case . Thanks
[2:29 pm, 05/06/2020] ☸️ Danny 心:
Good!
Desmond Koh
[2:32 pm, 05/06/2020] : Nvm la... when is compulsory then feedback ba... everyone have their own die hard views
[2:35 pm, 05/06/2020] : Eh point to note, previously I was sharing journals on the loophole n fixes... u said is only within a academic area lei 🤔
Eh nvm 😎
[2:36 pm, 05/06/2020] ☸️ Danny 心:
If any rollout affect people - I will standby it.
And make sure the right solution is used.
Desmond Koh
[2:42 pm, 05/06/2020] : Eh my apologies and pardon my ignorance... not a native English speaker.... although I got IELTS 7...
What u mentioned sounds like u r alluding that minister is trying to divert attention by sugar coating by withholding security risk to the public but knowledgeable person like the honorable you knew otherwise!?!?
[2:44 pm, 05/06/2020] ☸️ Danny 心:
I say you sugar coat.
I did not say the Minister sugar coat.
Desmond Koh
[2:46 pm, 05/06/2020] : Eh but I only pointed out the article didn’t mention security risk lei, how I sugarcoat?
Given that I cited what the minister said in the article?
Leonard Lau
[2:46 pm, 05/06/2020] : So you felt the same...
[2:47 pm, 05/06/2020] ☸️ Danny 心:
Who input the technicality to the Minister?
Rama
[2:54 pm, 05/06/2020] : Good question!
Caleb
[2:54 pm, 05/06/2020] : the perm Sect?
Desmond Koh
[2:48 pm, 05/06/2020] : U think I thought who confirmed? 🤣
Desmond Koh
[2:49 pm, 05/06/2020] : Found it
Desmond Koh
[2:51 pm, 05/06/2020] : Maybe not just both of us 🤔
---
REACH
[3:48 pm, 05/06/2020] : [Sent by Gov.sg – 5 Jun]
As of 12pm, MOH has preliminarily confirmed an additional 261 cases of COVID-19 infection in Singapore.
Majority are Work Permit holders residing in foreign worker dormitories.
Based on investigations so far, 11 are cases in the community (6 Singaporeans/PRs, 5 Work Pass holders).
Amongst the 11 cases, 6 are linked to previously confirmed cases, and had already been placed on quarantine, and 1 is linked to a dormitory cluster.
MOH will share further updates in its press release that will be issued later tonight.
go.gov.sg/moh5junupdate
KS Foong
[3:52 pm, 05/06/2020] : If the economy continue to be like now, how long and how fat our national reserve could last. Everything will hv a limit. We cannot take for granted that these kind of subsidize will continue forever! Somehow we need to face reality oneday. I hope we do not end up one day exporting Singapore maids or Workers to neighbouring countries or to other part of the world. I remember in my younger days, PH used to be a country much better than us.
REACH
[4:06 pm, 05/06/2020] : [Sent by Gov.sg – 5 Jun]
As of 12pm, MOH has preliminarily confirmed an additional 261 cases of COVID-19 infection in Singapore.
Majority are Work Permit holders residing in foreign worker dormitories.
Based on investigations so far, 11 are cases in the community (6 Singaporeans/PRs, 5 Work Pass holders).
Amongst the 11 cases, 6 are linked to previously confirmed cases, and had already been placed on quarantine, and 1 is linked to a dormitory cluster.
MOH will share further updates in its press release that will be issued later tonight.
go.gov.sg/moh5junupdate
Rama
[5:12 pm, 05/06/2020] : Disastrous! Chinese media exposes out-of-control situation at Kranji dormitory!
For workers staying in a dormitory in Kranji, they can’t wait to do the same, it seems.They were spotted crowding around a gate awaiting to visit the dormitory supermarket in a clip that’s gone viral on .Kranji dormitory workers can’t wait to visit supermarket According to Singapore Eye, workers staying at the dormitory started crowding at the gate.
https://news.nestia.com/detail_share/4289704?media_type=1&nestiaShareChannel=whatsapp
CQ
[5:16 pm, 05/06/2020] : https://www.todayonline.com/singapore/safe-distancing-its-not-happening-supermarkets-and-people-just-dont-care-shoppers-say?cid=telegram_tg-single_social-free_26012019_today
Aiyoh...
Rama
[5:18 pm, 05/06/2020] : Oh!
[5:18 pm, 05/06/2020] : Not surprising! SDA !?
CQ
[5:21 pm, 05/06/2020] : It could be complacency, perhaps due to the road map into Phase 2 which was shared previously. May have given an impression that we're out of the woods and thus a false sense of security.
[5:39 pm, 05/06/2020] ☸️ Danny 心:
Community spreading has go up 2 digits today and yesterday.
Yet people are getting more complacents.
Crowding, not wearing properly and some blatantly don't wear masks are now a common sight.
Ken
[5:41 pm, 05/06/2020] +65 9876 5095: Err those think is cause not detect previous bah... one recovered if not wrong, was stated as have past infection
[5:42 pm, 05/06/2020] ☸️ Danny 心:
Let's see for this few days the number go up or down.
But the sight of people relaxing and lowering their guard is getting more obvious.
CQ
[5:42 pm, 05/06/2020] : And I think there are people who might have the impression that Phase 1 comprises the "gathering of no more than 5"? It's supposed to be Phase 2, but I'm seeing a couple of people already going to their friends' place to hang out.
Rama
[5:42 pm, 05/06/2020] MTF to respond!?
Boon2
[5:43 pm, 05/06/2020] : For the people, work professionalism and commitment to life-long learning would be 2 factors to enhance employability. How to encourage personal ownership of work professionalism and life-long learnings are things for the employee to tackle, and the society to support.
Equally important to enhance employability is the support of our economic and industry structure - eg. would there be more manufacturing or operational work that would demand and hone Sg-based IT/digital skills and industries, versus service/ administrative sectors that would generate relatively more needs for administrators? After this period of feverish spending of billions$ to incentivise companies to create jobs, our industry structure will determine how many of these jobs/roles would be sustainably retained especially once the govt grants/allowances expire, or when Singapore economy recovers.
Therefore, employability from a standpoint of Singapore's economic sectors and industry structure should also be addressed.
Rama
[6:25 pm, 05/06/2020] : Govt not obliged to return funds drawn from past reserves, but is committed to rebuilding them: DPM Heng https://www.todayonline.com/singapore/govt-not-obliged-return-funds-drawn-past-reserves-committed-rebuilding-them-heng-swee-keat?cid=telegram_tg-single_social-free_26012019_today#.XtodielqiSk.whatsapp
[6:26 pm, 05/06/2020] ☸️ Danny 心:
I like the reassurance that the government is committed to rebuild our reserves that will benefit our future descendants.
Rama
[6:34 pm, 05/06/2020] : Likewise
Stanley
[7:22 pm, 05/06/2020] : Left pocket Right pocket
[7:25 pm, 05/06/2020] ☸️ Danny 心:
Not true.
Reserves are passive income that will earn investment income where 50% are plough back into sovereign fund as capital to earn more income.
Money distributed to the economy though with little leakage are expenditure where tax collected from people's spending is limited.
[7:30 pm, 05/06/2020] ☸️ Danny 心:
And our NIRC which is 50% of our investment income earn from our sovereign fund investment - is the single largest revenue components as compared to the corporate tax, personal income tax, gst etc collected.
So by drawing from our reserves - severely impact our government potential revenue income.
It is not a trivial matter.
This unprecedented crisis force us to make this painful drastic move.
Ken
[7:35 pm, 05/06/2020] : No choice I guess... if not later bleed more if they don’t stop the wound
[7:38 pm, 05/06/2020] ☸️ Danny 心:
The government is using the reserves to stop business from collapsing, job loss - which will cause massive unemployment, social unrest - as the economy deflated due to demultiplier effect.
It's a no choice situation.
Alternatively is through borrowing which incurred public debt.
Ken
[7:39 pm, 05/06/2020] : Borrowing is like loan shark never ending... the more you borrow till the point you just pay interest will be the end of us
[7:40 pm, 05/06/2020] ☸️ Danny 心:
So as the economy now slowly open up in phases, we must not let the economy close back again.
But we must make sure that people must not lower their guard and let virus flare up.
[7:42 pm, 05/06/2020] ☸️ Danny 心:
That's why borrowing is never a good option.
Some countries no matter how rich can ever repay the debt.
Eg US $23 trillion debt and hundred over billion in debt interest every year.
No way the people and future descendants can repay the debt.
REACH
[7:45 pm, 05/06/2020] : Hello REACH Contributors!
⏰ We will be closing the chat in 15 minutes ⏰
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight! 😴
- Megan
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XaniceAfcai
[6:53 pm, 05/06/2020] : Uncle at my neighbourhood are not wearing mask. One on e-scooter, one doing gardening n I loiter ard.
Few uncles gathered with mask on the chin at common seating areas.
Sigh..
[6:57 pm, 05/06/2020] ☸️ Danny 心:
This is now becoming a common sight in my neighborhood.
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