REACH 195 - Which part of Budget 2021 resonate with you (SK)

18 Feb 2021 (11am - 7pm)

REACH

[10:51 am, 18/02/2021] +REACH: Dear contributors,

Welcome back! 😊

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Megan 😊

[10:58 am, 18/02/2021] +REACH: 📢 Topic 📢 

We’d love to hear more from you! Please continue to share your views! 🤗

💬 Which Budget 2021 measures resonate with you? 

Deputy Prime Minister and Finance Minister Heng Swee Keat delivered the Budget 2021 statement in Parliament on Tuesday (Feb 16). This year's Budget, titled Emerging Stronger Together, combines measures to help families, workers and businesses weather the COVID-19 crisis in the immediate term, with measures to accelerate structural adaptations for the long term. 

Some key highlights: 

▶️ S$900 million Household Support Package to help families with expenses 

▶️ S$5.4 billion boost to SGUnited Jobs & Skills Package to support hiring of 200,000 locals and provide up to 35,000 training opportunities this year 

▶️ Jobs Support Scheme extended for worst-hit sectors as part of S$11 billion COVID-19 Resilience Package 

▶️ Support for low-wage workers, lower-income families, children with special needs and charities 

▶️ More incentives to encourage early adoption of electric vehicles 

👉 https://www.channelnewsasia.com/news/singapore/budget-2021-heng-swee-keat-emerging-stronger-covid-19-singapore-14208888 

👉 https://www.channelnewsasia.com/news/singapore/budget-2021-singapore-jss-household-support-package-covid-19-14209224

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[11:03 am, 18/02/2021] +Wilson Leong: Government need to do more to encourage more people to switch to EV cars. I also hope to change to 1. If you are those always on the road, need to travel heavily on the road and can not constantly charging the car. It is a pain for us sale engineer.

[11:06 am, 18/02/2021] +Nat: For this, I'm sure one can work on optimising the time for charging based on one's schedule but that means need to understand the car's performance as well as the profile of the roads you will travel on (which might be tough to determine if you run everywhere) 

A full-charge will certainly let you drive around SG for quite sometime before you have to charge again so it's not too big of a problem I believe, the only problem is as mentioned, the scheduling of charging

[11:08 am, 18/02/2021] +REACH: Hi everyone, you’re warmly invited to join our Budget 2021 social media contest - stand a chance to win $20 GrabFood vouchers! Do share the link with your friends and jio them for free coffee/tea at our upcoming listening points!

👉Go.gov.sg/reach-budget-contest

[11:08 am, 18/02/2021] +Alvin: Sg infra is already prime for charging stations to setup across the island and we have very little places that are remote or isolate so I won’t worry too much about that

[11:18 am, 18/02/2021] +Alvin: Wah so good. I did survey on PA Connect for free 🥲

[11:19 am, 18/02/2021] +Alvin: I still think the Green Initiatives are the best so far with plans to issue bonds where we can finance our own ecological development. Also the focus on agri industry is the right move.

[11:31 am, 18/02/2021] +Ben: Yes very innovative to issue bonds. Presumably they are to be invested into SG tech and companies? I haven't read the details yet....

[11:34 am, 18/02/2021] +Alvin: Capital raise will be used on Green projects and Infra development from what I can remember

[2:09 pm, 18/02/2021] ☸️  Danny 心: 

1. Issuing bonds make sense for our Government to finance our Green infrastructure - because :-

a. We do not need to dig deeper into our reserves (which are bringing us very good income) - to finance our Green infrastructure.

b. We can borrow at near zero interest by issuing Green Bond - as interest worldwide is near zero interest. Thus our cost of borrowing will be very low.

c. The Green Bond issue by our Government can be very long-term - like 10-year note, 20-year note, 25-year note.

d. Upon maturity, Government can repay the bond note through tax (accumulated throughout the years) or income earn from our investment by our Sovereign Funds.

e. As the Green Bond is guaranteed by our Government, the Green Bond is safe for investors.

2. But one thing don't make sense for investors.

a. Investors want to reap income, interest or dividend in their investment. Wonder which investors want to invest in our Green Bond - if the Bond interest are near zero.

b. Who are our investors?

- Not likely to be our domestic investors - as we don't have so much capital for Green Bond and also domestic investors will like a financial apparatus that bring us higher return.

- So investors for our Green Bond is likely to be from foreign investors :-

i. Who are cash-endowed, flooded with cash.

ii. Who are extremely Green-conscious, Green-savvy - with strong sense of social cause in "Green" to save the Earth.

iii. Who don't mind investing in the Green Bond that reap low interest but extremely safe investment - as it is guarantee by our Government with strong financial backing.

The question now is, are these Green Bond foreign investors out there - waving to us?

[2:24 pm, 18/02/2021] ☸️  Danny 心: 

On the hindsight, to attract $19 billion from foreign investors for our Green Bond is not a big sum.

- Big MNC some are trillion dollars companies, some are few hunderd billions dollars companies.

- Some billionaires worth are few hundred dollars billions.

- Even with 0.1% interest will bring them 1 million dollars interest upon maturity - and yet do a good cause for the World by protecting the climate.

- As our Green Bond is a very safe instrument, it helps these investors to diversify their investment and yet do a good social cause.

- 19 ultra-rich investors place $1 billion each - we will get the $19 billion fund.

- So possible that we may be able to atrract a $19 billion investment in our Green Bond - and at the same time - boost Singaproe as the financial hub with alternative financial apparatus - the "Green Bond".

[2:28 pm, 18/02/2021] ☸️  Danny 心: https://www.channelnewsasia.com/news/world/uk-first-country-to-expose-volunteers-covid-19-medical-trial-14218334                                                                                                                        UK fielding vaccinated volunteers - to real covid19 - to test the efficacy of the various vaccines.

[2:33 pm, 18/02/2021] +Thomas: For the fund manager, this is a conservative bond. Normally the Fund manager will spread their fund across aggressive, moderate and conservative to achieve an overall returns. In turbulent time, fund manager will park their money in conservative bonds to get at least some returns.

[2:35 pm, 18/02/2021] ☸️  Danny 心: 

Hope our issuance of Green Bond is successful for 3 reasons:-

1. Able to attract funds in our long term development.

2. Borrow at low cost.

3. Boost our financial hub.

[2:37 pm, 18/02/2021] ☸️  Danny 心: 

Singapore is a safe place for the foreign funds.

[2:43 pm, 18/02/2021] +Alvin: I can answer your questions. Our investors will be mix from financial institutions, investment firms and domestic market. It will be very attractive as the green infra will pay for themselves once fully operational so the coupon rate should be more than what a FD will give. Don’t forget it’s a bond so capital is guaranteed (need check and see on this). Stable long term consistent payouts.

[2:43 pm, 18/02/2021] +Alvin: My 2.14 cents

[2:47 pm, 18/02/2021] ☸️  Danny 心: 

Just hope our Green Bond succeed in raising the required capital.

Some green infrastructure can reap operational income like green energy.

But flood barrier don't bring operational income. Unless we are creative to build mall, tourism attractions that bring revenue.

So tax raise to fund the green bonds may be necessary.

Eg. We need to set aside $100 Billion for our green infrastructure.

[2:53 pm, 18/02/2021] +Alvin: I trust our urban planners and engineers to come up with ideas if it’s required to bring in some revenue. Most Infra projects bring indirect revenue for us in the areas of better efficiency and more investors coming in to use the infra here.

[2:55 pm, 18/02/2021] ☸️  Danny 心: 

Yes. This is the purpose of my posts.

To stimulate innovation and creativity in green projects - not only for altruistic social cause.

But also must bring in revenue for self funding, boost economic growth, create jobs and create wealth.

[3:05 pm, 18/02/2021] ☸️  Danny 心: 

1. If we gain sufficient expertise in preventing flood, and building green infrastructure.

2. We can build a pool of enterprise expertise in providing consultancy, building materials, methods, engineering know how - to bid for overseas green projects.

3. Companies like Sembcorp, Keppel our local big enterprises can win big green projects overseas to cushion our loss in oil rig etc.

4. This will help us to build new cap in transforming traditional companies to green companies.

[3:13 pm, 18/02/2021] +Alvin: Yes eg flood barriers means more costal and seaside sports and activities without much fear or flooding etc. There could be other ways to make it self sustainable eg it has turbines that generate electricity as the waves crash into it but lets leave all these to experts

[3:15 pm, 18/02/2021] ☸️  Danny 心: 

And grooming our own experts and green enterprise like grooming our new water and desalination expertise and enterprises.

[3:31 pm, 18/02/2021] ☸️  Danny 心: 

1. Many of our GLCs are at a cornerstone.

- ST Land - has transformed to go into autonomous driverless vehicles, electric vehicles, making car battery.

- Sembcorp and Keppel oil rigs are impacted and need to transform into green energy.

- Temasek Holdings are now emphasizing Green as our next phase of investment.

So Green - will be our next phase of revolution in Industrialization 4.0.

[5:17 pm, 18/02/2021] +REACH: Singapore residents aged at least 70 can register for Covid-19 vaccination before roll-out for seniors starts on Feb 22

Seniors aged 70 and above who are anxious to get the Covid-19 vaccine early, but have not received their letter of invitation, can book an appointment by indicating their interest on the website vaccine.gov.sg.

The site says: "Appointment slots are being progressively rolled out to seniors 70 years old and above. Please register your interest and we will notify you through SMS when you can make appointments online."

More: https://www.straitstimes.com/singapore/health/those-aged-70-and-above-can-register-for-covid-19-vaccination-before-rollout-for

[4:29 pm, 18/02/2021] +REACH: [Sent by Gov.sg – 18 Feb]

As of 12pm, MOH has preliminarily confirmed no new cases of locally transmitted COVID-19 infection. 

There are 11 imported cases, who had already been placed on Stay-Home Notice upon arrival in Singapore. 

MOH will share further updates in its press release that will be issued later tonight.

go.gov.sg/moh180221update

[5:52 pm, 18/02/2021] +REACH: Connect@Changi facility opens to allow business travellers to meet in S'pore without quarantine

Short-term business travellers from all countries will now be able to stay and have in-person meetings at a dedicated facility at the Singapore Expo without the need for prior quarantine.

The first phase of Connect @ Changi was launched on Thursday (Feb 18) with 150 guest rooms, in a move to resume international business meetings in Singapore amid the Covid-19 pandemic.

More: https://www.straitstimes.com/singapore/transport/dedicated-connectchangi-facility-for-hosting-business-meetings-in-spore-without

[6:30 pm, 18/02/2021] +Ben: Wow, thats pretty smart! Presume that testing is required? Are the service and catering staff who look after the facilities properly protected too?

[6:46 pm, 18/02/2021] +REACH: Dear Contributors!

⏰ We will be closing the chat in 15 minutes ⏰

Megan

[6:47 pm, 18/02/2021] +Alvin: Gdnite Megan

[6:58 pm, 18/02/2021] +Elena Woo: There are already so many imported cases discovered via SHN. What is being done to ensure that it will not spread out to community?

[6:58 pm, 18/02/2021] +Elena Woo: And what if the travellers sneak out during their stay at Connect@Changi?

[6:59 pm, 18/02/2021] +Caleb: I guess those worked there will all be vaccinated?

[6:59 pm, 18/02/2021] +Elena Woo: And how to ensure if they are not positive for Covid?

[6:59 pm, 18/02/2021] +Caleb: And 24/7 security?

[6:59 pm, 18/02/2021] +Caleb: Think they are tested like every 3 days

[6:59 pm, 18/02/2021] +Elena Woo: Vaccination is not 100% fool proof won't get the virus.

[6:59 pm, 18/02/2021] +Elena Woo: But they will still go home back to their families.

[7:00 pm, 18/02/2021] +Elena Woo: And once go back home, community spread risk is there.

[7:00 pm, 18/02/2021] +Caleb: For the delegates

[7:00 pm, 18/02/2021] +REACH: Dear Contributors,

We will be closing the chat for today.

Thank you very much for being part of our WhatsApp chat and participating actively.

Goodnight!

Megan

[7:00 pm, 18/02/2021] +Caleb: Hope workers will got to be tested at least every 2 weeks

[7:00 pm, 18/02/2021] +Elena Woo: Too long interval

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