REACH 560 - What do you think about DPM Wong and the 4G team taking over the reins? How can we continue to build a bright future for all Singaporeans?
(SK)
16 Apr 2024 (10am - 7pm)
REACH
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16/4/24, 10:00 am - +REACH: 📢 *Topic* 📢
Deputy Prime Minister Lawrence Wong will officially become Prime Minister on May 15, taking the reins from PM Lee Hsien Loong and becoming Singapore's fourth Prime Minister.
In its statement announcing the handover, the Prime Minister's Office said DPM Wong has the unanimous support of the PAP MPs.
💬 *What do you think about DPM Wong and the 4G team taking over the reins? How can we continue to build a bright future for all Singaporeans?*
📌 Leadership transition
The date for the handover was announced in a statement from the Prime Minister’s Office (PMO) on April 15, a key detail in Singapore’s long-planned leadership transition from the third-generation to the fourth-generation (4G) political team.
PM Lee noted that a leadership transition is a significant moment in any country.
“Lawrence and the 4G team have worked hard to gain the people’s trust, notably during the pandemic,” he said. “Through the Forward Singapore exercise, they have worked with many Singaporeans to refresh our social compact and develop the national agenda for a new generation."
PM Lee also said the 4G team is committed to keeping Singapore working well and moving ahead, and asked that Singaporeans give DPM Wong and his team their full support to jointly create a brighter future.
📌 Building a bright future for all Singaporeans
“Every ounce of my energy shall be devoted to the service of our country and our people. Your dreams will inspire my actions. Your concerns will guide my decisions," said DPM Wong in a video posted on social media shortly after the announcement, calling on Singaporeans to share their ideas, passions and dreams, and work with his team in the journey forward.
He promised a partnership model of leadership and asked for Singaporeans’ trust, support and continued faith in pursuing the shared vision of the country.
📌 Forward Singapore exercise
DPM Wong launched the Forward Singapore exercise in 2022, which laid out a roadmap for a new Singapore vision to renew the social compact.
The team’s report, put out in October 2023, set the public agenda for the years ahead. It called on Singaporeans to partner the Government in developing a fair, caring and inclusive society with people progressing together.
👉 https://str.sg/FR75
👉 https://str.sg/kGdC
👉 https://www.channelnewsasia.com/singapore/prime-minister-lee-hsien-loong-lawrence-wong-leadership-handover-4266031
👉 https://www.channelnewsasia.com/singapore/your-dreams-will-inspire-my-actions-dpm-wong-calls-singaporeans-work-together-write-next-chapter-singapore-story-4266186
16/4/24, 10:01 am - ~ REACH Singapore changed the group description
16/4/24, 10:01 am - ~ REACH Singapore changed this group's settings to allow all members to send messages to this group
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16/4/24, 10:13 am - +Frankie Wee: PM Lawrence Wong ensure public trust and believes politicians go well smoothly.
He will run PMO long term with minister. <This message was edited>
16/4/24, 10:13 am - +Rama: New broom sweeps well so only time will tell.
16/4/24, 10:15 am - +Frankie Wee: Thank him he set a new idea those Singaporean 55 above support CPF housing pledge into FRS there no need worry without top up.
16/4/24, 10:16 am - +SL: It indicated continued and successful leadership succession, giving all local and foreign stakeholders the confidence to continue the success story of Singapore. 👏👍 Majulah Singapura 🇸🇬
16/4/24, 10:20 am - +Rama: https://mothership.sg/2024/04/pm-lee-whats-next/?utm_source=whatsapp&utm_medium=referral&utm_campaign=ms
16/4/24, 10:21 am - +Nic Freehold: I think Lawrence Wong has proven himself after the Covid. Importantly he is kinder version of PAP than the Lees and Goh administration
16/4/24, 10:24 am - +Andy: Firstly let's thank our PM Lee and his team for the great work they've done for Singapore. I'm very proud to be a Singaporean. DPM Wong and his team should continue with the Forward Singapore exercise with us in order to keep up with the challenges and changes that the world is facing. Being 56 years old I'm concerned about our ageing issues in terms of healthcare costs and needs, also with the rising costs of living how we elderly can keep up with it even though we have the CPF life. Does it mean we need to work longer into our 70s or even 80s just to keep up with the rising cost.
16/4/24, 10:25 am - +Nic Freehold: https://www.todayonline.com/singapore/all-employees-can-ask-flexi-work-arrangements-december-5-key-takeaways-new-guidelines-2402426?fbclid=IwAR30LfbRwBWCmYb0helddC2FnHF8oBm7m8YzwdKlKpmsHzwdfe8xCd_NEIU_aem_AVRHEEGa1AJRHAbf0cuCRCPIhlB08zxGEPnUn4y8NAdzhJzC4dkojHpMLciX5UNBu5k
16/4/24, 10:25 am - +Frankie Wee: Budget will be according every year when eventually rising cost.
16/4/24, 10:25 am - +Rama: I believe the retirement age will progressively be raised so retirement!?
16/4/24, 10:26 am - +Nic Freehold: Case in point, an innovative Govt for 1st World Nation. Taiwan Korea HK caught in bind.
16/4/24, 10:27 am - +Nic Freehold: We should ask why target to live so long? Importantly Covid and earthquakes in New York proves nothing is set in stone. So live your best LIFE TODAY
16/4/24, 10:37 am - +SL: PM Lee and his team raised the bar of Singapore's success. Significant achievements have happened in the last 20 years; we are the most prominent red dot in the region and global stage. Looking forward to DPM Lawrence bringing us to another level of success 😊
16/4/24, 10:37 am - +Frankie Wee: WHO couldn’t remove name Covid-19 there is still uncertainty in future. Covid-19 anytime wave and new disease-x
16/4/24, 10:38 am - +Frankie Wee: Singapore stay safe and experienced the past Covid-19 during pandemic
16/4/24, 10:39 am - +Frankie Wee: This world 🌍 alway battle Covid-19 however the sadness over war humanity it’s may affected disease after their death from war
16/4/24, 10:41 am - +SL: Retirement age needs to be raised; seniors are fit to continue working as compared to decades ago; their experience is important to us, so why should we waste human resources when they choose to continue working and we cry for insufficient workforce resouces?
16/4/24, 10:42 am - +Rama: Considering our current and projected aeging population is growing against new born, imperative that we do so.
16/4/24, 10:43 am - +Landon: Work until you die is your concept of sustainability?
16/4/24, 10:43 am - +Frankie Wee: Start from 1 Dec FWAs
16/4/24, 10:44 am - +Frankie Wee: https://www.straitstimes.com/singapore/jobs/all-employers-in-singapore-must-fairly-consider-flexi-work-requests-from-dec-1-under-new-rules?utm_medium=social&utm_source=whatsapp&utm_campaign=stwa
16/4/24, 10:44 am - +SL: Working until I choose not to work is my concept of choice and preference. It is not related to sustainability.
16/4/24, 10:46 am - +Landon: But there's no choice when there are no supports
16/4/24, 10:47 am - +Landon: If you look at other countries, study their models of social welfare- there are safeguards and safety nets to ensure that retirees can genuinely retire for good irrespective if they have sufficient savings or family supports
16/4/24, 10:47 am - +SL: I'm confused. Can you please share the support you are referring to? Thanks
16/4/24, 10:48 am - +Landon: Singapore abolished the pensioner system.
16/4/24, 10:51 am - +Usha: Congratulations to our DPM to take over the reins.As a finance minister he well manage the countries finance.But the things our elderly people still need to work hard for their daily household expenses.As they are getting very low salary very hard for them to cope up with the future expensive life style.Every year after the budget the prices keep on increasing the salary remains the same.of all the things this part need to look into carefully.If he only rectify this part the other areas will automatically improved
16/4/24, 10:53 am - +SL: We have an excellent cpf system that works best for us and is currently working well; I am not sure whether you are referring to the Western model of social welfare that many analysis reports have already raised their concern in the going concern of their social welfare system, their current model of social welfare might not be able to sustain, I m also concerning the impact of this welfare system against global when and if they collapse
16/4/24, 10:55 am - ☸️ Danny 心:
Thought many pension funds in the world is making huge loss and some could go into bankruptcy?
Why are we going back into pension schemes?
16/4/24, 10:55 am - +Landon: It's only good if you actually have money in the accounts.
What if you don't, then what safeguards are there? Let's just exclude SMTF and SMLF and look at other supports, there are literally no proper "cash" disbursement based supports.
16/4/24, 10:57 am - +SL: Singapore got new pension schemes?
16/4/24, 10:57 am - ☸️ Danny 心: <Media omitted>
16/4/24, 10:59 am - ☸️ Danny 心:
Someone mention here why we don't follow overseas pension schemes.
I thought Singapore CPF scheme has been rated one of the best in the world.
Why should we adopt pension schemes that cannot sustain itself and many are going bankrupt.
16/4/24, 11:01 am - ☸️ Danny 心: <Media omitted>
16/4/24, 11:01 am - ☸️ Danny 心: <Media omitted>
16/4/24, 11:01 am - ☸️ Danny 心: <Media omitted>
16/4/24, 11:01 am - ☸️ Danny 心: <Media omitted>
16/4/24, 11:01 am - ☸️ Danny 心: <Media omitted>
16/4/24, 11:01 am - ☸️ Danny 心: <Media omitted>
16/4/24, 11:01 am - ☸️ Danny 心: <Media omitted>
16/4/24, 11:04 am - ☸️ Danny 心:
I hope we don't copy blindly and monkey see monkey do.
16/4/24, 11:10 am - ☸️ Danny 心:
Agree with your statement that we have a choice whether to retire or continue working.
Some of us feel that we have sufficient retirement savings and can stop working.
Whereas some of us, decide to continue to work rather than staying at home.
No one force us to work.
It is by choice.
16/4/24, 11:20 am - +Andy: Of course life is unpredictable so I agreed we all should live each day the best day. However Singapore's life expectancy for male is 80.7 and female is 85.2 so everyone should be prepared for our old age.
16/4/24, 11:23 am - +~l or Smiley face: 16 April, 2024
"Where are the safety measures?
"Enjoy now and payback later? Slow rising wages, fighting inflations and the cost of livings are the truth and the reality of today's world. How can we counter and measure our savings and earnings against all of these and sustain over time into our silvering age and eventually retired?"
-- anonymity
Four or more?
Three weapons to counter any one or all of the above challenges.
One is to save up to 30% your monthly disposable income.
Two, find a higher paying job and you should keep up with the changing workplace and emerging technologies that will not only disrupt any jobs but it will displace any workers on the magnitude unseen nor experienced since the age of computing.
Three, you either plan your future well and have a sense of things and roadmap in mind; your family and yourself or in free will, simply no planning or unplanned. Just how much you can weather through if given one day a micro crisis happens to you or your immediate family members?
Four, secure yourself and spend your hard-earned monies wisely! Is it that simple or perhaps even more complex than anyone could imagine or belief?
- - in progress - -
16/4/24, 11:24 am - +Nic Freehold: Which countries? We don’t have oil like NORWAY.
or can you accept 50,000 more foreigners?
16/4/24, 11:26 am - +Nic Freehold: I wish retirees or those aged 55 can buy dual key like units so can rent a master bedroom out for income yet have security.
16/4/24, 11:27 am - +Nic Freehold: even if live w in laws, need to space to prevent Friction w young people who sleep late
16/4/24, 11:27 am - +Nic Freehold: All the bedroom near each other some wake whilst others going to sleep argue
16/4/24, 11:29 am - +SL: There are elements of geopolitical + politically correct actions that affected the operations of professional members in these highlighted Japan and South Korean pension funds investment & returns. It is a matter where the action diverted from the original intention of the funds. Information is available online.,
16/4/24, 11:31 am - +~l or Smiley face: This message was deleted
16/4/24, 11:31 am - +~l or Smiley face: Hi SL....add on to yours...
Perhaps, that's one reason why BOJ raised 0.1% interest rates all for the core reason of thirty years of Debts.
16/4/24, 11:33 am - +~l or Smiley face: If history is one benefit to humanity then valuable lessons are such beneficiary to all.
-- anonymity
It is imperative that we strive to balance our expectations in the journey of a lifetime, especially, more so for the young generations because they have a lifetime ahead of them.
16/4/24, 11:47 am - +SL: Based on the OECD statistics, for the samples of OECD on developed western countries, all are in negative annual nominal investment return in 2022; it is a reversed trend as compared to positive return during COVID-19 2020-2021. In 2019, only Japan had negative returns and the rest of the OECD country's pension funds are in positive returns up to double digits.
16/4/24, 11:55 am - +SL: Can soundproofing the wall?
16/4/24, 12:01 pm - +SL: Hi ~I, agree, the debts + YCC that fuel the borrowing in yen for other hard currency. Not sure what will be the real impact after Ycc policy shift
16/4/24, 12:05 pm - +SL: The impact of the famous loss of decades of Jpn GDP continues after 2010.. The real economy structure and how it operates affect the government's fiscal policy…
16/4/24, 12:28 pm - +Frankie Wee: This time revise changed that support CPF but past so far nobody had idea and voice out
16/4/24, 12:29 pm - +Frankie Wee: Person wanted to make money quickly rich but risk to take investment all their money and loan bank. Unfortunately if they failed going to bankruptcy
16/4/24, 12:30 pm - ☸️ Danny 心:
Our CPF system is still the soundest system in the world for our retirement.
No other pension schemes come close.
I think we should support our government to safeguard our retirement nest and not let it be squander away. <This message was edited>
16/4/24, 12:30 pm - +Frankie Wee: FY 2024 in future I believe become better
16/4/24, 12:30 pm - +Frankie Wee: CPF treat an pension
16/4/24, 12:31 pm - +Frankie Wee: Malaysia EPF unable to cope retire and so many people flow into Singapore worker
16/4/24, 12:32 pm - ☸️ Danny 心:
That's why appreciate what our government has done for us - and safeguard it jealously.
If misgovern, it will be gone with a flash.
16/4/24, 12:49 pm - +~l or Smiley face: Weakening of Yen to 160 level against USD?
16/4/24, 12:50 pm - +SL: Our cpf annual has a positive return..
16/4/24, 12:51 pm - ☸️ Danny 心:
*Paying tributes to PM Lee and his Cabinet*
1. First, I will want to pay tributes to our PM Lee and his Cabinet that have grow our economy from about $100 billion GDP to our current $600 billion GDP during his reign of Premiership - and make Singapore the 3rd richest Country in the World in terms of GDP PPP - surpassing Switzerland, US, Japan, S Korea, Japan and many EU developed Countries.
2. PM Lee and his Cabinet has make Singapore Economy very sophisticated - high-value added Manufacturing, Digital Economy, Service based, R&D based in addition to be hubs in many industrial sectors such as Financial hub, Shipping hub, Health Hub, IT Data Centre hub etc
PM Lee has certainly leverage on the good work of Mr LKY and Mr Goh CT - to make our Economy even better.
3. On top of making Singapore shine Economically, PM Lee has cemented our reputation and friendship with many overseas leaders (specifically Friends with All, Enemies with None. Forge mutual benefits with win-win outcome) - as the guiding principles in our foreign affairs.
4. PM Lee notably has turn attention to uplift our more vulnerable groups and lower income - to make our gini coefficient narrower - so that lower and middle income group can catch up with higher income group - making our income and social status group more compact - and less inequality ---- through the "redistribution of wealth" - in the form of Government transfer - eg. GST voucher, various rebates and grants.
5. Notably, our population are well educated and possess high value skillsets - that are able to help us to earn higher income and operate in our sophisticated Economy that require high tech knowledge and skills.
6. Our safe and secured environment also deserved mention - whereby our Defense and Home Team has guarded our security well and invested wisely in high tech equipment, training, sound military diplomacy and National Service --- and Thanks to Divinity - we are safe and sound at home --- as we witness wars and conflicts erupted in other Countries.
7. But witnessing PM Lee and some of his older Cabinet Ministers white hair --- daunt on me that age are catching up -- and it is a reminder that Singapore need to bring in a younger, equally capable 4G Leaders --- to keep Singapore shining...
We unfortunately cannot beat old age ---- under the Universal Law of Impermanence....
16/4/24, 12:51 pm - +~l or Smiley face: Conclude, perhaps Pension plans are not sustainable over the longer period of time, say over a span of 30 years and longer.
16/4/24, 12:54 pm - +SL: I think it is human nature for individuals to grow their wealth; they will invest, borrow money from banks to do business, etc. Taking a loan to invest may be too risky as the return might be lesser than bank interest payable. The investment return period is also uncertain but the load repayment period is fixed.
16/4/24, 12:56 pm - ☸️ Danny 心: <Media omitted>
16/4/24, 12:57 pm - ☸️ Danny 心:
Our CPF are invested in very safe instrument.
It is not invested in market instrument like other funds.
16/4/24, 1:12 pm - +Sam: CPF is invested in a debt instrument issued by Singapore government and guaranteed by Singapore government. It doesn't really matter how the underlying asset is invested as Singapore government will take the risk. Nevertheless, the underlying asset is pooled with other asset including ah gong 's money and invested in a diversified portfolio in a prudent manner.
16/4/24, 1:17 pm - ☸️ Danny 心:
*Welcoming the new PM Lawrence Wong and his 4G Leaders*
1. Our new PM Wong make a bang - when he helm the Covid task force - and led Singaporeans to a sound and safe landing - with minimal casaulties, not overwhelm hospital and GP care and no drastic business loss and job loss - by skillfully using our reserves wisely to keep our Economy, business and job going.
2. Another noticeable sight, PM Wong's hair is still healthy black - a sign of younger PM with much longer runway, vigor, health and energy --- to takeover the baton.
3. Most importantly, PM Wong has been with the Government for a very long time as civil servant - and he was a Principal Private Secretary to PM Lee.
That means, he has been helping PM Lee to formulate many policies in conjunction with PM Lee.
A steady pair of hands in Government.
4. PM Wong show his mettle as Finance Minister - when he presented Budget 2024 and the earlier Budget - demonstrate that he has intricate knowledge of all the Ministries, Statutory Boards and Organs of State very well.
5. PM Wong also excel in his initiative "Forward Singapore" - that are able to mobilise citizen involvement and participation with Government on Government Policy formulation --- and has demonstrated good outcomes to Singapore and the population.
6. PM Wong and the younger 4G Cabinet Ministers as well as political office holders - have demonstrated a safe pair of hands in formulating a couple of sound policies ---- and I am confident that PM Wong and his 4G Leaders will be able to shine and continue with the good work after taking over from PM Lee.
7. I hope our voters will give PM Wong and the 4G Leaders a strong mandate come the next GE - and ensure that PM Wong's Cabinet team are intact ---- to safeguard our futures and the increasingly troubled world - that are mired with conflict, confrontation, increasing protectionism, decoupling, derail global supply chain, geopolitical tension ---- that will harm our trade, overseas investment, business, travel and hurt our External Economy.
8. PM Wong needs the strongest Cabinet team and political holders possible --- to safeguard our lives, our children lives, protect our reserves, our livelihood, create jobs, attract investment and keep everyone safe.
16/4/24, 1:19 pm - ☸️ Danny 心:
Yes.
That's why we must continue to ensure a sound and competent government is on board.
Else if incompetent government come on board and squander our reserves and investment --- there goes our CPF.
Singaporeans will be fried and buried.
16/4/24, 1:22 pm - +SL: Today, Bloomberg indicated that the yen fluctuated around a range of 154; the Japan Times published an article today titled Japan’s tepid warning on yen fuels renewed weakness ahead of IMF: Apr 13, an artifice published on Reuters for boj to offers guidance on bond buying pace. In a nutshell, how much can Mr. Suzuki and Mr. Kazuo do? Is the 8% (rumor) of the fed fund rate the target? And can countries clear their usd debts without causing a financial crisis in their local economy by borrowing expensive usd for repayment?
16/4/24, 1:29 pm - +SL: I agree; there is no good pension for now that I observed (based on analysis of Europe and America) that is suitable for us and able to be successful after I considering our circumstances and structural environment. The sources of data are based on publicly available information.
16/4/24, 1:31 pm - +Thank You Woman: Well, not familiar with Lawrence, however had change of hands with YK ONG & CHAN CHUN SING lately.
YK ONG, being in Minister for transport/MOE/MOH sad to say that I’ve experienced “Negative” effect.
CHAN CHUN SING, 1st his assistant give me the feel of “Sincerity”. After feedback regards ITE students to polytechnic vacancy I saw the effect of their effort.
For MOE textbook I saw the effort in calculating弟子规。
For the Examination, I saw the empathy “heart” they have in helping all students to level up and so much more……
Way before he was actually the next Prime Minister I was looking forward to.
16/4/24, 1:31 pm - +Thank You Woman: He is more and more humble 🙏
16/4/24, 1:33 pm - +Sam: I agreed on CCS part, but also to add that he is a visionary. And he has the ability to simplify complex matter and explain it to layman.
16/4/24, 1:35 pm - +~l or Smiley face: Then 165 level will be more likely to happen....if you recalled, SL, anonymity specifically advised get out of Yen before Q2/24....OH O...
16/4/24, 1:40 pm - ☸️ Danny 心:
*Challenges that Singapore will be facing*
1. When PM Lawrence Wong and his 4G Leaders team come on board, there are some hot button challenges to tackle.
2. I am hoping to have the topic on "tackling online scams" - so that I can post something that I feel is effective and workable to curb online scam coming from the Internet. In 2030, a whooping $680 million has been scam from Singaporeans - close to $1 billion.
3. I understand that there are more than 10 tracks in the World "Anti-spoofing biometric measures" forum - with the aim to tackle online scam using biometric - and protect people from AI, deepfakes and other means such as quantum computing that can break the most sophisticated binary encryption.
But they are still Internet facing, they are still in digital format that can be stolen when face with a big pool of online hackers and scammers out there --- no matter how sophisticated the measures will be.
4. Hence adopting a "barrier approach" or "Air-gap" --- that completely block Internet users out (which are festered with highly skilled scammers and hackers) will be the safest approach - by creating a National Intranet for biometric authentication (and still implement the 10 tracks of anti-spoofing measures when ready to safeguard the biometric data in Intranet).
An intranet, I estimate less than $100 million to implement (that include telco based station for Intranet access, free SIM cards to each person for biometric authentication, a National biometic authentication system andbusiness need additional connection and apps upgrade to access Intranet and facilitate biometric authentication).
5. Note:- biometric features (such as facial recognition, fingerprint, IRIS, voice etc) as unique DNA to each individual person.
If stolen, it will be gone forever, and a person will forever by held hostage by the scammer and hacker - as they can keep using the victim's biometric to access his bank, CPF and government system --- unless the person reborn or go for face change, finger change, hand change, vocal cord change.
6. Hence a failsafe and foolproof biometic system need to be in place.
If a "barrier approach" or "Air-gap approach" ---- OOB (Out-Of-Band) Intranet is not the safest system (as it is physically segregated from Internet) --- what other safest system can it be?
16/4/24, 1:41 pm - ☸️ Danny 心:
REACH - *Login and Authentication detail Workflows - to do Bank Transaction via Internet/Intranet - to safeguard against Online Scams*
9 Apr 2024
_*Pre-requisite*_
Public User End
1. Users smartphone must have 2 SIM cards - SIM-1 for In-band Internet connection (User will have to buy and subscribe this SIM-1 on their own).
2. Banks/Telcos/Government - co-sponsor to issue every users SIM-2 free for OOB (Out-Of-Band) (National) Intranet connection - to perform "Live Biometric authentication" - for bank transaction, CPF transaction and other public-driven confidential transaction.
Telco End
1. Maintain current 4G/5G base stations and network for users and Internet access. (Inband network) Adopt public IP address.
2. Set up new 4G/5G base stations and network for users and National Intranet access (co-sponsor by Telcos and Government to setup National Intranet) - for Live Biometric Authentication (with no connection to Internet). (OOB - Out-Of-Band network) Adopt Private IP address.
3. Note:- there are no physical connection and routing between the Inband network and OOB network. As OOB network are adopting Private IP address, physical connectivity and routing cannot be activated to bridge the Inband network adopting Public IP address - as it will trigger "IP conflict" - and cause both network to go down.
Bank, Financial Institution, CPF end
1. Every network devices, security devices, servers (2 NICs) will have 2 different IP - one coming from inband network and another from OOB network.
2. Bank Apps will update into the database (that are not IP addressable) via fiber-channel.
_Login process into Bank mobile apps or Bank Web page via "Internet"_
1. User use "In-band Internet SIM-1" to connect to Internet - Bank login webpage - key in "userid" and "password". (via public IP address e.g 192.168.x.x Subnet 255.255.255.0 - Class C address) via smartphone mobile bank (Internet) apps or laptop Bank https Web page via SIM-1.
2. Login userid and password will be updated into Database by Bank Authentication apps via fiber-channel. Login credentials will be keep alive for 30 minutes (for example).
3. Bank Apps or System or User --- will then automatically (or manually) disable "In-band Internet SIM-1" - to cut off connection to the Internet (so that online Internet scammers will not be able to hack, scam or remotely take control of the user smartphone or laptops after this process - as the Internet connection will be cut off).
(Note a:- Important for bank apps have anti-malware measures and capabilities to ensure user devices (smartphone or laptop) are sanitised - else will refuse user login to bank apps until and unless user devices are clean out of malware.)
(Note b:- If users use laptop, user smartphone "In-band Internet SIM-1" should be used as Wireless hotspot or mobile hotspot (USB tethering) for the laptop connection to Internet to access bank login webpage.)
_Login process into OOB (Out-Of-Band) National Biometric Authentication mobile apps or Web page via "Intranet"_
1. Bank Apps or System or User --- will then automatically (or manually) enable "OOB Out-Of-Band Intranet SIM-2" in user smartphone - to begin Biometric Authentication in the OOB Intranet. For Intranet, Private IP address will be adopted (eg. 10.x.x.x Class A IP Address).
Note:- This Private Class A IP address in the Intranet network cannot enable route and be routed to Internet network - as this will crash both networks due to IP conflict with public IP address from the Internet.
(Hence, logically, no way online scammers can activate the route between the Internet and our Intranet - to hack into our Intranet. Another physical safeguard is that, there are no physical network connectivity between the Intranet network and Internet network --- a real "Air-Gap".)
2. Bank (Intranet) Apps will pick up the user record to check the status of user login banking credentials updated into the database (including the 30 minutes timing).
3. Bank (Intranet) Apps will then be redirected into the Central National Live Biometric system to authenticate the users (Face recognition/fingerprint/IRIS/Voice etc) - to ensure that users is a legitimate and authentic users (not scammers).
Note :- As Intranet is not accessible by Online scammers coming from the Internet - no way scammers can steal the live biometric of users or hack into users' bank account to steal users' money - as fund transfer and all bank transactions are done within Intranet and not Internet.
This is an "Air-Gap" concept - the "Barrier Approach" - ie. if Intranet is not physically connected to Internet - there is a barrier between the 2 networks - online scam cannot succeed.
4. Upon successful live biometric authentication, users will then be granted authorisation to do bank transaction and any transaction records can be updated by Intranet bank apps into the database.
5. When banking transaction is completed within the Intranet - Bank Apps or System or User --- will then automatically (or manually) disable "OOB Out-Of-Band Intranet SIM-2" - to cut off connection to the Intranet.
6. Thereafter, Bank Apps or System or User --- will then automatically (or manually) reactivate the "In-band Internet SIM-1" - to allow users to connect to the Internet to access their smartphone Internet data surfing or WhatsApp/Telegram communication.
_(Note :- for bank users or foreigners accessing from overseas to do local bank authentication - they can only do so via the "Inband Internet" - as they will not be accessible to the Intranet). In this case, biometric authentication will not be a good idea for overseas users doing local bank transaction)._
16/4/24, 1:46 pm - +SL: If 165, it may build a gateway for outflow to trigger asset devaluation. The question is, will the same outcome be repeated? Maybe not.. 🤷♂️
16/4/24, 1:53 pm - +Nic Freehold: Agree. Totally support our current CPF system. Malaysian withdrew their EPF and that weaken their currency and also bought rubbish.
Just that when interest rates spiked 4%, CPF interest rates remained the same.
I wish a one off $300 into per Singaporean CPF account would be nice.
16/4/24, 1:55 pm - +Rama: <Media omitted>
16/4/24, 1:58 pm - +Rama: I suspect Hong Yi will be next PM the next term after 8yrs. Just like former PM Goh Chok Tong sandwich between PM LKY & PM LHL. 🤣🤣🤣
16/4/24, 1:59 pm - +~l or Smiley face: Or raise interest rates to 0.5%, that's a big decision for BOJ.....
16/4/24, 1:59 pm - +~l or Smiley face: 16 April, 2024
"What tomorrow promises? "
(明天会更好！简单地说，今天开始准备明天！)
"The invincible hands? It's all about today because today is about tomorrow! Our 4G leadership and our chosen PM are well calibrated and timely executed with minimal risks with views of the on-going global topsy-turvy politics.
16/4/24, 2:00 pm - +REACH: 📢 *Topic* 📢
16/4/24, 2:01 pm - +Nic Freehold: Do you know if every Govt wanted $$$ back as in selling US Treasuries, USA would crash tmrw
16/4/24, 2:02 pm - +~l or Smiley face: The earliest signs of economic trouble are consumers defer spending and the stacks of bills and debts! Into the immediate and short term, it will be a massive consolidation of all macroeconomics, all microeconomies and effecting all nations of the world! The big change has began, its now!
16/4/24, 2:06 pm - +~l or Smiley face: It's colosaly important for SG and its people to stay together as one.
Our leadership transition are both stable and predictable unlike others countries having to undergo great extend and uncertainties to settle and emerged a new leader.
We are blessed with steady and stable conditions. Let's treasure all of it !
16/4/24, 2:11 pm - +~l or Smiley face: There is now a great needs to set the tone right whichever nation big & small and it requires effective communications and building trust through dialogues to strive for closer cooperations, example between China or US and its external counterparties with it government to government or business to business or even government to businesses.
Perhaps, our 4G will adopt a Collaborative style of leadership with retrospective of our former leaders whom brought us here today in great shapes and forms: cogent, consultative, communicative and perhaps collaborative.
16/4/24, 2:14 pm - +Samantha: Aaaqqqqqq1q1q11qq11a1qq111¹¹11111111111q11111111111¹¹p
16/4/24, 2:21 pm - ☸️ Danny 心:
Of course there are other challenges the new 4G Leaders will have to tackle as it surface :-
1. Geopolitical tensions - how to ensure Singapore are safe if conflicts and confrontations erupted and threaten us.
What happen if South China Sea are cut off ($3 trillion trade route) - and it is our livelihood.
What happen if war break up in Europe - and we have large investment and trade with EU.
What happen if Middle East turn very ugly - and we have projects in Middle East.
2. Decouplling - that disrupt our global supply chain and mess up our logistics chain and partners, our suppliers, our manufacturing process and workflow, our trade partners, our investment, our Sovereign Funds investment, our business etc.
It will affect our Economy, the way how we do business and our jobs.
3. Our External Economy form a large part of our GDP and our Sovereign Fund investment - all the more external development do have a big impact to our Economy.
4. Maintaining our social harmony, racial, religious harmony - as external events threaten to unravel them. Notably, what happen in the Middle East has a profound impact on our these social fabric - as it impact faith, races dynamic.
5. The advent of job and business disruptors :
- AI, Quantum Computing, Green Sustainability,
- Nuclear Fusion/SMB,
- hydrogen cells vs EV vehicle (note:- Korea has successfully invented hydrogen cell engine - touted to be able to defeat EV vehicles (how will this change our green car strategy that uses EV batteries and EV chargers?
6. Digital Economy - how to ensure our digital transactions and financial transactions are safe?
7. How to safeguard our future jobs and ensure our business continue to be viable --- as sessimic challenges and changes --- are confronting us.
I am confident PM Wong and his 4G Leaders will be able to navigate and lead us to ride the troubled water ahead of us.
And we need to give PM Wong and his 4G Leaders a strong mandate come the next General Election - to secure our future, our children future and our future generation future.
We need to help them to help us.
16/4/24, 2:23 pm - ☸️ Danny 心:
"This hydrogen engine is revolutionizing the automotive industry: neither American nor German" - it is Korea.
This will challenge the EV cars.
https://www.ecoticias.com/en/korean-hydrogen-engine-cars-future/970/#:~:text=This%20hydrogen%20engine%20is%20revolutionizing%20the%20automotive%20industry%3A%20neither%20American%20nor%20German
16/4/24, 2:26 pm - +Jimmy Chew: Yes. Work longer live longer 😁
16/4/24, 2:32 pm - +Jimmy Chew: We are happy with the handover. Lawrence and the 4G leaders have proven themselves to be innovative, brave, and steadfast in doing what's good for Singapore. Not an easy a endeavour, they recognized and it's meaningful that they call everyone to be part of the journey. Salute
16/4/24, 2:33 pm - +Jimmy Chew: Breath of fresh air and optimism ❤️
16/4/24, 2:34 pm - +Jimmy Chew: Majulah Singapura
16/4/24, 2:40 pm - +SL: It will be a big decision. The Japan Times newspaper just pushed out a feed that yen is braced for 160.. Japan Times quoted the message from Bloomberg. The weakening of the yen looks highly correlated to 2 major power countries and the outcome of the last week's official trip 🤷♂️
16/4/24, 2:49 pm - +SL: Japan, Taiwan etc will not reduce fed treasury bonds; any selling is only a transaction base
16/4/24, 2:56 pm - +~l or Smiley face: 165....
16/4/24, 2:57 pm - +~l or Smiley face: Only through the expense of time, trusting each other and closer ties will emerge and in hope shall be a new height of bilateral or mutilaternal relationships transforming into economics collaborations enriching a more stable and prosperous region and global appeal. The urgiest of all is to embark on economic wars and further actions of currency wars; collectively, it will be doomsday for all !
16/4/24, 4:12 pm - +REACH: 📢 *Topic* 📢
16/4/24, 4:49 pm - +Rama: Just saw on CNA - MFA KS could possibly be DPM along with a definite cabinet portfolio change in line with a snap election by year's end.
16/4/24, 4:50 pm - ☸️ Danny 心:
Sorry who is KS in MFA? <This message was edited>
16/4/24, 4:57 pm - +~l or Smiley face: One generation leaders handover duties and responsibilities to the next generation leaders. Thats it. It will be a momentous occasion and emotional for many people!
Hereby wishing PM Lee Hsien Loong many more years of health and happiness!"
-- anonymity
16/4/24, 4:57 pm - +~l or Smiley face: Half minute of Solitude., thanks!
16/4/24, 5:01 pm - +~l or Smiley face: One bright ray of hope is technology! History has proven over and over that breakthrough in technology and innovation will bring many economic growth to the world and the continuation off to a new era of comfort and convenience to humankind. That's the promise of a new and better tomorrow for our SG!
16/4/24, 5:11 pm - +REACH: *PM Lee to become senior minister, no major changes to Cabinet until after next GE: DPM Wong*
More: https://str.sg/oxLZ5
16/4/24, 5:12 pm - ☸️ Danny 心:
No reshuffling of Cabinet.
16/4/24, 5:14 pm - ☸️ Danny 心:
Else, there will be a period when Ministers need to pick up something new in the ministries that can be quite disruptive.
16/4/24, 5:14 pm - +~l or Smiley face: Excellence!
16/4/24, 5:14 pm - ☸️ Danny 心:
Not ideal when preparing for a general election.
16/4/24, 5:17 pm - +Frankie Wee: Exactly I was saying he become senior
16/4/24, 5:18 pm - ☸️ Danny 心:
Hence I was a bit surprised when some political analysts say cabinet will reshuffle before GE.
Only after GE, PM can then redeploy Ministers and move political appointees around.
Else no one knows the outcome.
16/4/24, 5:38 pm - +SL: With PM Lee's support to DPM Lawrence in the future, Singapore’s future will continue to be the best. I'm looking forward to PM Lawrence's leadership for Singapore. 👍👏
16/4/24, 5:43 pm - +Rama: L Shanmugam
16/4/24, 5:43 pm - +Rama: K*
16/4/24, 5:44 pm - +Rama: Saw the remarks on CNA
16/4/24, 5:46 pm - ☸️ Danny 心:
Oh.
He is in MHA.
He is a very solid security Minister.
When the whole Cabinet in National Day parade - he sits in the command centre overseeing the entire integrated security apparatus to protect the Cabinet and all those in the parade.
But as the new PM say, no Cabinet reshuffling until GE is over.
16/4/24, 5:50 pm - ☸️ Danny 心:
Hence I am surprised few renown political analysts and even news media speculate cabinet will reshuffle before GE which I thought don't really make sense.
It will ruffle feathers, during rally, previous minister will need to answer opposition questions as new ministers not attuned to past decision.
And what happens when GE outcome surprised everyone, then semula all the new appointments?
Hence I was quite sceptical when analysts say reshuffling may come ahead before GE - which I thought don't make sense.
What happens after GE, new PM want to appoint new political appointees?
.....
16/4/24, 5:50 pm - +Rama: Understand his absence from any NDP!👍👌
16/4/24, 5:51 pm - +Rama: Let's wait and see the run up to election first.
16/4/24, 5:52 pm - ☸️ Danny 心:
Yes.
Only after GE, then he can start with a clean slate - no semula.
16/4/24, 5:54 pm - +SL: Politics analysts are there to ask questions. We laymen shall rely on official sources.
16/4/24, 5:55 pm - ☸️ Danny 心:
I see.
So political analysts are wrong.
16/4/24, 6:00 pm - +REACH: 📢 *Topic* 📢
16/4/24, 6:00 pm - +SL: Political analysts provide their opinions based on their own assessment of the information received and they ask questions.
We can read their analysis result and assess the outcome ourselves. For important news, oil thinks it is better for us to wait for the official source.
16/4/24, 6:01 pm - ☸️ Danny 心:
That's what I thought too.
16/4/24, 6:02 pm - +SL: Typo error, not oil thinks, should be I think
16/4/24, 6:59 pm - +~l or Smiley face: 16 April, 2024
"What tomorrow promises? "
(明天会更好！简单地说，今天开始准备明天！)
"The invincible hands? It's all about today because today is about tomorrow! Our 4G leadership and our chosen PM are well calibrated and timely executed with minimal risks with views of the on-going global topsy-turvy politics.
One generation leaders handover duties and responsibilities to the next generation leaders. Thats it. It will be a momentous occasion and emotional for many people!
Hereby wishing PM Lee Hsien Loong many more years of good health and happiness!"
-- anonymity
The year 2025, the new US POTUS and the new administration will change the rules of the global trades and balance of payments in the search of balancing and continuing its global leadership role while facing multiple challenges and uncertainties of huge global debts, likewise China's internal and external gargantuan debts and Japan too. Ideally, interest rates needs to be tapered by means of reducing it. However, the argument is the fear of another runaway inflation in the making which is active. Either you stay put on your interest rates or you start cutting it and your bonds will react to the cut or uncut to the monetary policy and the fiscal policy. The decider of the matter is time and thereafter many consequential effects. Ultimately, who sells the most goods and services to the world shall be the champion exporter of the world!
The earliest signs of economic trouble are consumers defer spending and the stacks of bills and debts! Into the immediate and short term, it will be a massive consolidation of all macroeconomics, all microeconomies and effecting all nations of the world! The big change has began, its now! Either you are in or you are out! There is now a great needs to set the tone right whichever nation big & small and it requires effective communications and building trust through dialogues to strive for closer cooperations, example between China or US and its external counterparties with it government to government or business to business or even government to businesses.
Only through the expense of time, trusting each other and closer ties will emerge and in hope shall be a new height of bilateral or mutilaternal relationships transforming into economics collaborations enriching a more stable and prosperous region and global appeal. The urgiest of all is to embark on economic wars and further actions of currency wars; collectively, it will be doomsday for all !
How to assess a country's economic potentials and demography sets, markets sentimental and consumers will define the existential state of its economic health and its future growth potentials?
The three Basics: Car sales, Home sales and commercial properties sales are three early signs of good times or bad times ! Is it a demand driven or supply driven economics and how will each force of economics redefine future demand and supply. The fundamental of liquidity and vibrancy is price and volume. A lower price will increase demand or lowered demand due to lack of confidence in the economy.
A higher price with increased in demand will set a new equilibrium of price and volume. In a separate scenario of a higher price not matched by increase in demand and inversely proportional dip in volume sales is an early indicator of a downward price and volume of a produc. It is more profound for higher value goods and services and less impactful for daily necessities such as energy and water.
The other side of things?
One significant is the dampened wages all over the developed economies and the challenge of rehiring, retrainings, retirings, savings, and ageing issues with the backdrop of lowering interest rates and equilibrium in prices are almost impossible to achieve and prices will always fluctuate with these mixed economic signals that make it harder to predict future growth or financial crisis even with AI driven analysis to close up the deviation and better distribution of economics resources.
The higher cost of living is another outlier effect of a fragmented global trade in matching the mechanism of price and equilibrium tougher to hop onto the wagon of Digitisation and Decarbonisation processie. In any business proposition or FDI will look at Tax incentives, Wages, Energy cost and supply and Rental cost. On the rising price of energy and business cost, in 2022, BASF as an example, this German company faced the challenge of rising price in natural gas. BASF big appetite for energy in a typical day equals to one day of Switzerland consumption. Is this the new civilisation and the new reality of Globalisation?
Policy & Politics of the Oil & the Gas?
By next year, the world will know better the new US administration positions on the policy of oil & gas and monetary. Should there be a shift in these energy & money policies back stepping the old ways of carbon consumption & emissions. The after effects of this shift in the US energy policies will once again reopens new rounds of multi trades negotiations at the OPEC and out of OPEC that result in cut of supplies which will drive the price of oil towards $100/barrel and for the US Dollars it will continue to hold firm or in cases strengthen across the global FXs and the yield for US treasuries will follow suits to rise with the downward adjustments of the interest rates into 2026 and Central Banks and Banks will rush to balance their books of equilibrium from recalibrating micro/macro policies to the books of profit & loss of international banking. Will we see the US interest rates ease to 4.0% coupled with targeted tax incentives and subsidies on a few sectors of the US macro & micro politics from oil to gas to automotives and electronics? If it happens, it will solidify the US Dollars given its backdrop of debts which will possibly hit $50 trillions dollars and the overall global Public & Private debts.
One bright ray of hope is technology! History has proven over and over that breakthrough in technology and innovation will bring many economic growth to the world and the continuation off to a new era of comfort and convenience to humankind. That's the promise of a new and better tomorrow for our SG!
- - in progress - -
16/4/24, 7:14 pm - +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 😊
16/4/24, 7:14 pm - ~ REACH Singapore changed this group's settings to allow only admins to send messages to this group
====
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