REACH 404 - What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? 

(SK)

17 Oct 2022 (10am - 7pm)

REACH

[9:47 am, 17/10/2022] +REACH: Dear Contributors,

Welcome back! 😊

⏰ We will be opening the chat from 10am to 7pm today. ⏰

House Rules (short version of our Terms of Use) to keep in mind: 

1. Be kind and respectful. We all want to be in a safe space to share our views. 

2. Any and all threatening, abusive, vulgar or racially, religiously and ethnically objectionable content is prohibited.

3. Consider the quiet ones among us and give them a chance to comment.

4. No need to repeat your comment or in different forms (including caps) - we heard you loud and clear the first time.

5. Let’s protect each other’s privacy and keep contact details in this group what it should always be - confidential. 

Full set of Terms of Use: https://go.gov.sg/reach-whatsapp-terms

We will strive to uphold these rules to ensure this is a safe space for all.

Please be assured that the points made by participants during the chat are aggregated and shared with relevant agencies.

The topic will be posted shortly.

Thank you

Megan 😊

[10:00 am, 17/10/2022] +REACH: 📢 *Topic * 📢

Cash payouts, more Community Development Council (CDC) vouchers and public transport subsidies are among the relief measures announced on Friday in a new $1.5 billion support package to combat the rising cost of living due to inflation.

💬 What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? 

Here are five things to note from the latest package:

📌 1. Up to $500 Cost-of-Living Special Payment

Cash of up to $500 will be given out to 2.5 million eligible adult Singaporeans in December 2022. This is on top of the up to $200 cash that adult Singaporeans will get in December from the GST Assurance Package. 

📌 2. Additional $100 CDC vouchers

An additional $100 in CDC vouchers will be distributed to every Singaporean household in January 2023. This will be on top of the $200 in vouchers announced in Budget 2022, to be also distributed in January. A second round of $200 in vouchers, also announced in Budget 2022, will be distributed in 2024.

📌 3. Public transport subsidies

There will be an additional subsidy of about $200 million in 2023 to cover the 10.6 percentage point fare increase that will be carried over to future fare review exercises.

📌*4. Public transport vouchers *

A total of 600,000 public transport vouchers will be made available to resident households with a monthly household income per person of not more than $1,600.

Each voucher is worth $30 and can be used to top up fare cards or buy monthly travel or concession passes. This is meant to provide additional support to lower- and lower-middle-income households.

📌 5. Enhanced education financial assistance schemes and bursaries

The income eligibility threshold for the Ministry of Education's (MOE) financial assistance schemes will be raised to defray school expenses for more students. This will take effect from Jan 1, 2023, for primary, secondary and pre-university students and from the 2023 academic year for those on government bursaries for post-secondary education institutions.

👉https://www.straitstimes.com/singapore/5-help-measures-in-octobers-15b-support-package

👉https://www.channelnewsasia.com/singapore/how-s15b-support-package-aims-help-singaporeans-cope-rising-cost-living-3007646

[10:56 am, 17/10/2022] +REACH: Dear Contributors

We want to HEAR from you!

💬 *What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? *

We have had good feedback and hope that we can keep the discussion robust and active!

Megan 😊

-----

[11:02 am, 17/10/2022] +Ah Heng: In general ground always happy to see money coming in, there are bound to have some !@#$  as well

[11:03 am, 17/10/2022] +Ah Heng: given the pending economy storm, is worrying if the ground keep thinking govt will always give hand out cos whatever comes out will need t pay back also

[11:04 am, 17/10/2022] +Ah Heng: these few years already govt help alot .....

[11:37 am, 17/10/2022] +Smiley face: $10.70

[11:37 am, 17/10/2022] +Smiley face: $14.80

[11:37 am, 17/10/2022] +Smiley face: $13.60

[11:38 am, 17/10/2022] +Smiley face: Welcome back, all chickens!

[0:21 pm, 17/10/2022] +JkL: I was wondering why now we have more sources then before shouldn't the prices drop or maintain?

[0:21 pm, 17/10/2022] +Rama: 👍👌😃😁😆

[0:22 pm, 17/10/2022] +Rama: Takes time and volume fir prices to drop

[0:23 pm, 17/10/2022] +JkL: We are seeing almost 100% increase compared last year

[0:23 pm, 17/10/2022] +JkL: Really too much

[0:30 pm, 17/10/2022] ☸️  Danny 心: 

This is the global structural problem - supply chain disruption, geopolitical tension, global climate - that trigger global inflation.

[0:34 pm, 17/10/2022] +Smiley face: Good morning Andrew...full of emojis...

First happiness, the chickens are on the shelf, next will be...prices coming down?

[0:37 pm, 17/10/2022] +Smiley face: Hi Danni, yupp!

No corn (shortage) means lesser chickens.

No fertiliser (shortage) means lesser corns.

Unless the chickens eating man-made corn?

How about pigs?

[0:41 pm, 17/10/2022] +Smiley face: One highly abstract concept, no even the Chinese supercomputer can derives the ultimate answer aka solution!

The following is a simple abstract modelling to share with everyone given the baby step of the discovery of "quantum entanglement theory".

Here it goes...

[0:43 pm, 17/10/2022] +Smiley face: June 23, 2022

https://en.wikipedia.org/wiki/Quantum_entanglement

How about this?

It is an amplification, intensity and frequency distributed within each atom or in relation to the next and or a grouping of atoms? What if a big bang (a light-speed blip) happens, what are the measurements of this atom(s), intensity, form & shape (distorted or intact and/or a continuum)? 

Universal & Dimensionals:

The Human eyes see up to 3 dimensional space. Distance and or between two objects is measurable and is a human natural ability in this 3 dimension space. Time dies and in non-existence! The naked eyes CANNOT see beyond the multiples of cubic!

What if the universe is a multi dimensional space and each dimension itself is multi dimensional. Distance & Time is no…

[0:53 pm, 17/10/2022] +65 9880 7258: It's certainly a very good gesture by the government to help offset the cost of living.

Costs rising is inevitable due to the macro environment, perhaps within the country we can relook at how to reduce expenses. 

Would more days WFH help with reducing cost of commute, petrol and dining out?

[1:11 pm, 17/10/2022] +Smiley face: Dated: 11 September, 2022

"The dynamics of Devaluation, it is a spectrum of endings from the beginning of one means!"

- - annoymous

Latest scenarios (17/10/22)?

These chaotic and nervous days, many people are looking for ways out of the impending hot soup, this bigger Macro that is melting down? 

If 0 is the mightest then 9 is not the biggest of all sequence of numbers starts from 0 to 9!  Each number correlates to the next or before and the entire streaming of numbers towards infinity! It is not merely 0 to 9, that simplistic! Only handful of folks will see the entire 'picture' of tangibles and the unintended outcomes!

Apply this 'simple formula' into yourself, your business/career or your country?

Bonds is the mother of all economics Bomb and Values is the Shell(ings)...!"

- - annoymous 

Main:

What is Currency (Money)?

Besides an intermediary for trades and exchanges in return for tangibles or intangibles. Another way looking at it, is the presence or current or immediate future (the day itself after tomorrows)?

The status of a Currency is either strong, or moderate or  weak (it doesn't matter)?

In a highly unusual and volatility condition, one's strength doesn't means one will be the stronger(est) in this highly uncertain timeline. Likewise, one's weak doesn't means one will be compromised! 

If one ranks and positions one's money against all MONIES, it is wiser to be 'floating than sinking' and be 'highly flexible' along the mid-range (4 or 5) of this volatility index, this case is currencies and the number position STARTS from 0 to 9!

Is a game (many don't see it...)! The key is be constantly observing the trends of volatile and variables (multiple externalities & internally) clashing and at times in sync or otherwise (linear mode, or inverse mode, or divert mode). Let's play it smarter, safer and never thinking to 'out-play' or it will be game over aka 'played-out'!

Afterwords:

How about applying to subsidy and other social/economics/political interventions? How to "craft"(more than calibration) it so that one stays ahead and in a state of actions with the least disruptions? 

"You look at me, I look at you" attitude?

Many ordinary people cannot 'see through the multiple dimensions' of the natural callings order. Just like reading a book, the text in the book is like a movie in play; watching the movie forward or backward or turning to the focus of the book, and move on to another book! Only a handful of people can 'see' it through (so what if one is a PhD?)!

        - - 'thinking' - -

[1:21 pm, 17/10/2022] ☸️  Danny 心: 

Inflationary Pressure

1. Let us look at the inflation rate as per the statistics - it is 7.5% in Aug 2022 as compared to an average 2.5% in Sep 2021.

2. Hence a whopping 5% increase in inflation - a very nasty price hike - that take a toll on the household and individual at large.

3. The salary increase in 2022 is about 3.5% - unable to catch up with the inflation rate for the working people.

4. For retirees with passive income, on average the interest rate is about 3.2% - also unable to catch up with the inflation rate.

The increasing interest rate will also have a impact on:-

a. Household that borrow loans to finance their housing especially for young couples.

b. Increase business cost to borrow bank loan for growth or to finance their operating expenses.

5. Hence the global inflation hike - which likely to be sticky for at least a year or more - is the most dreadful economic crisis threatening us and the Global Economy.

I feel that it is more difficult economic problem to solve - as compared to recession (in which in a life time we faced it a few time) - that can be resolved by public spendings, attract investment, improve trade and spur cosumer spendings.

But this high inflation - are due to multiple compounded structural global issues - that trigger a persistent global inflation - which is quite difficult to solve.

[1:23 pm, 17/10/2022] +Cycle Yoga: Improve connectivity within SG by wider pedestrian footpath/cycle-way to reduce burden on public transport & rising cost 

Maintaining basic food cost.

[1:40 pm, 17/10/2022] ☸️  Danny 心: 

Current Support Package

1. The current support package - predominantly targeting at the lower income and middle income ($500 - $300 based on income groups and property ownership) and $100 CDC voucher for each household to cushion the higher food price ----- is a good temporary relief to last the Singaporean household until the end of the year.

2. And also to mention the conservancy charges and U-save relief to help lower income and middle income group - to cushion the high energy prices - certainly is a great help for HDB dwellers.

3. But this is good - provided that Government continue to be able to sustain a budget surplus - whereby the Government maintain a healthy revenue against its expenditure.

4. I feel that Singapore government has done relatively well in our Economy by opening up our economy in the midst of the covid pandemic, geopolitical tension, decoupling, global supply chain disruption, energy price spike and global climate that disrupt food crops supply.

This has attracted :-

a. More Home office investors

b. Global talent

c. First mover in aviation and encourage travel

d. Revenue from Sovereign Fund with shrewd investment

e. Revenue collected from high property prices, car prices etc.

f. Increase in tax collected as economic growth improve

g. Sound tax structure - that enable the government to maintain a healthy fiscal budget without the need to accure debt.

5. Government financial assistance to help the household and individuals can continue over to next year and future years --- provided that Government continue to do well to maintain healthy fiscal budget and financial prudence.

[2:01 pm, 17/10/2022] ☸️  Danny 心: 

Global structural problems

1. But as our Government concentrate on growing our Economy, maintain economic and financial policy - to ensure we continue to grow our GDP, ensure a healthy fiscal budget, grow our Sovereign Fund, help our workers to reap higher wages.

2. Individual and household continue to upskill, upgrade to get higher pay jobs, grow our income - to ensure that our wage growth and income growth surpass the inflation rate?

3. Will the global inflation, finally reach its peak and come down to a more normalised "2 to 2.5% inflation rate" --- in which we have been enjoying for so many years?

4. My take is, it will be a very difficult target to achieved.

We will be very lucky if inflation rate come down to "3 to 4%" and normalised at this rate --- and hopefully our wage growth and income growth can achieved a 4.5% growth every year.

5. The reasons being :-

a. Global financial decoupling, technology decoupling, trade decoupling and investment decoupling - is unravelling trigger by US-China geopolitical tension and competition.

This has tear apart the global supply chain - that utilise the cheapest and cost effective materials, semi-finished goods and tap the entire global market - to produce the most cost effective goods and services.

The world is not tearing up into 2 subtle global supply chain.

We need to place ourselves smartly and shrewdly into the 2 supply chain - to reap good economic benefits.

But this has made our imported goods and services -- more expensive - as we are not reaping the most cost effective economic exchange of labour.

Hence prices of imported goods and services --- will continue to be high --- even if the world can tie over the pandemic disruption and Ukraine war ended.

b. Global climate has make many fertile lands barren - due to flood, drought - and many food crops, animal farms unable to provide food for humans and animals --- which trigger a shortage of food supply, Countries adopt food protectionism by imposing export control --- and our imported food prices shoot up.

6. Hence my take whether in future, can we maintain a lower normalised 2-2.5% inflation rate --- will be a dream.

We may have to live with a higher inflation rate of 3-4% in future years if we are lucky.

This means, Government and our workers and business will have to target for a 4.5% or higher wage growth in future years ---- a very tall target.

[2:01 pm, 17/10/2022] +REACH: 📢 *Topic * 📢

Cash payouts, more Community Development Council (CDC) vouchers and public transport subsidies are among the relief measures announced on Friday in a new $1.5 billion support package to combat the rising cost of living due to inflation.

💬 What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? 

Here are five things to note from the latest package:

📌 1. Up to $500 Cost-of-Living Special Payment

Cash of up to $500 will be given out to 2.5 million eligible adult Singaporeans in December 2022. This is on top of the up to $200 cash that adult Singaporeans will get in December from the GST Assurance Package.…

[2:23 pm, 17/10/2022] +Smiley face: Hi Danni, somehow you are hitting the homerun... thanks.

An ideal and prudent GDP especially into Q1-3/2023.

Strongly encourage our economies to achieve no more than 3.2% and not hitting 2.8% range. The annualised 2023 growth be at most 3.0%, not comparing Idea is to remain sustainable in a highly unusual and volatile Macro situations. Thank you.

[4:01 pm, 17/10/2022] +REACH: 📢 *Topic * 📢

Cash payouts, more Community Development Council (CDC) vouchers and public transport subsidies are among the relief measures announced on Friday in a new $1.5 billion support package to combat the rising cost of living due to inflation.

💬 What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? 

Here are five things to note from the latest package:

📌 1. Up to $500 Cost-of-Living Special Payment

Cash of up to $500 will be given out to 2.5 million eligible adult Singaporeans in December 2022. This is on top of the up to $200 cash that adult Singaporeans will get in December from the GST Assurance Package.…

[5:58 pm, 17/10/2022] +REACH: Dear Contributors

We want to HEAR MORE from you!

💬 *What are your views on the latest support package? In what other ways (other than monetary) do you hope to receive support from the Government amidst this period of high inflationary pressures? *

We have had good feedback and hope that we can keep the discussion robust and active!

Megan 😊

[6:46 pm, 17/10/2022] +REACH: Dear 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 😊

[6:48 pm, 17/10/2022] ☸️  Danny 心: 

Maybe Singapore Savings Bonds increase investment quota from $200,000 to $300,000.

This is to help Singaporeans to put their savings in SSB to earn higher passive income - to cushion against higher inflation rate for the long term.

[6:57 pm, 17/10/2022] +Rama: What about treasury bills!?

[6:58 pm, 17/10/2022] ☸️  Danny 心: 

Thought t Bill no quota?

[6:58 pm, 17/10/2022] +Rama: Having to compete in a auction for treasury bills while it is easier fir ags bonds

[6:58 pm, 17/10/2022] ☸️  Danny 心: 

I see.

T Bill short term about 6 mths.

[6:59 pm, 17/10/2022] +Smiley face: 17 October, 2022

What more helps?

Perhaps the coming tranch of packages be positioned to the followings:

No later than Feb/23 ($1 b?)

No later than May/23 ($1.5b?)

No later than Sept/23 ($1 b?)

Reservation of up to $2.0b for Q4 as a contingent.

Are vouchers via SingPost or e-vouchers via SingPass a/c or Directly into Bank a/c or All the 3 options?

Which is better, safer and effective & efficient?

(There maybe chances of Quantitative Easing by Fed/ECB/BOJ into 2024-25?)

[6:59 pm, 17/10/2022] +Rama: I saw the alert on 121022 but by the time I went in on the actual day 131022?, all taken up!

[6:59 pm, 17/10/2022] ☸️  Danny 心: 

T Bill is also another good investment instruments.

[6:59 pm, 17/10/2022] +Rama: Or one year too

[7:00 pm, 17/10/2022] ☸️  Danny 心: 

Yes 1 year also got.

[7:00 pm, 17/10/2022] +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 😊

====

REACH 403 - What are your views on the public transport fare rise? Do you think Singapore's public transport system is sufficient to meet commuters' evolving needs and the system's future challenges? 

(SK)

14 Oct 2022 (10am - 7pm)

REACH

[10:03 am, 14/10/2022] +REACH: Greetings from REACH 

A warm welcome to those who have just been added to this chat group.

You have been added as you had previously indicated your interest at one of our events or through our online platforms. 

Please be reminded to be respectful and considerate to others in this WhatsApp chat group.

Full set of Terms of Use: https://go.gov.sg/reach-whatsapp-terms

Megan 😊

[10:14 am, 14/10/2022] +REACH: Dear Contributors,

Welcome back! 😊

⏰ We will be opening the chat from 10.15am to 7pm today. ⏰

House Rules (short version of our Terms of Use) to keep in mind: 

1. Be kind and respectful. We all want to be in a safe space to share our views. 

2. Any and all threatening, abusive, vulgar or racially, religiously and ethnically objectionable content is prohibited.

3. Consider the quiet ones among us and give them a chance to comment.

4. No need to repeat your comment or in different forms (including caps) - we heard you loud and clear the first time.

5. Let’s protect each other’s privacy and keep contact details in this group what it should always be - confidential. 

Full set of Terms of Use: https://go.gov.sg/reach-whatsapp-terms

We will strive to uphold these rules to ensure this is a safe space for all.

Please be assured that the points made by participants during the chat are aggregated and shared with relevant agencies.

The topic will be posted shortly.

Thank you

Megan 😊

[10:16 am, 14/10/2022] +REACH: 📢 Topic 📢

On Wednesday, the Public Transport Council (PTC) announced that public transport fares will rise by 2.9% from Dec 26. The PTC said a major contributor to this was the increase in energy costs, which rose by 117%  in 2021 due to the global energy crunch. 

💬 What are your views on the public transport fare rise? Do you think Singapore's public transport system is sufficient to meet commuters' evolving needs and the system's future challenges? 

PTC Chairman Ms Janet Ang said that the PTC focused on ensuring there would be minimal increase in fares for the needy and vulnerable. The increase in concession card fares will also be capped at 1 cent per journey for students, senior citizens, lower-wage workers, and people with disabilities.

To help lower and lower-middle income households, the Government will give out 600,000 public transport vouchers worth S$30 each, which can be used to top up fare cards or buy monthly concession passes.

Last week, the Land Transport Authority (LRA) also announced that 11 MRT stations along the Thomson-East Coast Line (TEL) will officially open for passenger service on Nov 13. 

“This is a very important addition to our MRT system. (The 11 stations) have very important points of intersection with the existing MRT lines. And therefore, it adds much resilience and of course, convenience through interconnectivity for commuters in Singapore,” said Transport Minister S Iswaran on Friday. 

👉🏼 [ST] Train, bus fares to rise by 4 to 5 cents for adults from Dec 26: https://str.sg/wHrp

👉🏼 [CNA] Bus, train fares to increase by up to 5 cents due to rising energy costs: Public Transport Council: https://cna.asia/3EFxDlT

👉🏼 [CNA] Eligible lower-income households to get S$30 public transport vouchers to cope with rise in bus, train fares: https://cna.asia/3eoTR0x

👉🏼 [ST] 600,000 public transport vouchers available from Dec 28 to help with fare hike: https://www.straitstimes.com/singapore/transport/600000-public-transport-vouchers-available-from-dec-28

👉🏼 [ST] 11 new TEL stations, from Stevens to Gardens by the Bay, to open on Nov 13; free rides on Nov 11: https://str.sg/wHAv

👉🏼 [CNA] 11 Thomson-East Coast Line stations to open on Nov 13; free rides available on Nov 11: https://cna.asia/3ynb5lM

-----

[10:17 am, 14/10/2022] +Rama: Will this continue yearly for how long more!?

[10:36 am, 14/10/2022] +Timothy Weerasekera: Imo quite reasonable that the fair increases come on the back of cost increases. It's clear that the Government is doing its part by shielding the most vulnerable with subsidies.

What is important is that wage growth outstrips rises in cost of living. In many industries, it does. But that's not always the case for everyone I suspect.

[10:40 am, 14/10/2022] +Caleb: +1

[11:00 am, 14/10/2022] +Rama: Wage growth as mentioned by dpm lw cannot rise too rapidly.

[11:10 am, 14/10/2022] +Tan Kay Eng: I think the fare increase is fair, just hope to have more extensive coverage. On the other hand, think the ministry should look into the monopoly of taxi/private hired cars companies where they raise fare by double/triple during peak hours simultaneously and leaving you no choice but to take it when Public transport not available.

[11:12 am, 14/10/2022] +CJ: Public transport fare should be kept at affordable level. Most households are currently experiencing high cost of living. Gov should defer till inflation is low around 2-3%.

[11:21 am, 14/10/2022] +Smiley face: 14 October, 2022

Good morning everyone!

To: Our Distinguished Leaders and All Honorable Members (including New members)

"While others jumped or attempts to jump, you stay put and watch these ripple of aftershocks then..."

- - annoymous

Where the thresholds and holding power?

One, our vulnerables and families are largely taken care off, so far, for the majority has the means to withstand this 'perfect storms of this century' through previously hard-earned savings?

Two, inflation aka cost of living have increased YTY and on an upward trajectory till anyone  guessing when it will come down?

Three, if assuming wages to increase by 15% in fiscal 2023 across all sectors with workers in mind (minimal or no increment for bosses and managerial positions). What would be the business costs be by 2025 and beyond?

Heavier weighting on wages is one catalyst of inflation (a few more reactors). Hopefully, with 10% increase in wages for 'all workers' which cover more than 95% of any workforce is a prudent approach in than piling wage to wager a bigger economics war (this relentless inflationary thingie)?

Only if both US-China relationship cools down to a friendly and workable solution, all patterns of 'war' will emerge (both sides) till the last fellow stands taller above the rest (the rest means 1 ABANG and all adik)! 

Upstoppable, that's itself is a zero sum game in playing now!

Afterwords:

"What if meaningless replacing the importance of meaningful (ends) and/or a purposeful (resolves) narrative?"

- - annoymous

Introduced an increase in fares for the public transport sector is a necessary pain?

Why applies this painful thing?

Economics in simple streets word is "everyone needs to make a living (吃喝玩乐)". This public transportation activities (owners & workers) need to survive too?

So long there are interventions to not OVERLY increase fares, things should work out itself.

     - - in progress - -

[11:26 am, 14/10/2022] +65 8161 3490: Agree. There is a need for checking the high rates by Grab during peak hours. Also their standard taxi option that has lowest charge is often with no available cars.  No choice but to move to the premium options. Or opt for other transport. Thx.

[11:33 am, 14/10/2022] +SL: Ibfirkation gathered on the trading of inflation @ global level will not end in these few years

[11:35 am, 14/10/2022] +SL: There is some strategic indicator consideration for global big players to increase the inflation to restructure the supply chain and industry.

[11:36 am, 14/10/2022] +SL: Hence, it is crucial for the transporters to be able to survive in the next few years, an increase in the fare is the best option least impact on residents

[11:44 am, 14/10/2022] +SL: Maybe a well-known document that was published on Wednesday can provide one of the referring points to the trajectory of global inflation till the end of 2024. The detail maybe provides some insight into the correlation in the forecast of inflation.

[11:46 am, 14/10/2022] +Smiley face: This an analytics and a business platform which needs to be monitored should excessive or overly charged fares, this private hire tpt.

It is not profiteering, hope not becoming but agencies should eyeball for these outlier of once a while fare surged during PEAK and Prime locations too!

[11:48 am, 14/10/2022] +Smiley face: Hi SL, good picking up this. Thanks.

Lucky, only if the famous 'TWO' (aka US-China) stop fighting over almost everything from tangibles and intangibles (face is one big intangible)?

[11:50 am, 14/10/2022] +SL: I think the root is related to “control” if referring to the 48 pages document

[11:51 am, 14/10/2022] +Smiley face: These days CIA can means China-India-Asean

How about FBI?

It can also means Full Blowout Initiatives (from the US)!

[11:51 am, 14/10/2022] +Rama: 😮😯😃😁🥢😄

[11:52 am, 14/10/2022] +Smiley face: Can we read and digest this 48 pages...

[11:55 am, 14/10/2022] +Smiley face: Really lah...

"One Smart group think while the others are not fools..."

- - annoymous

"Never underestimate a man who overestimates himself..."    - - Franklin D. Roosevelt

“不要低估一个高估自己的人。” 

——富兰克林·罗斯福

[11:55 am, 14/10/2022] +SL: More MRT line is coming up as per the schedule, and the number of passengers will be increased. Are the current stations going to upgrade to cater to the capacity increase (the platform, entrance, gantry etc)? Do we really need a gantry in the future?

[11:56 am, 14/10/2022] +SL: Google online and able to find the nss

[11:59 am, 14/10/2022] +Smiley face: Hi SL, good observations, thanks.

One capacity enabler is the number of cabins per Train trip plus frequency too.

The coming new lines and new routes is an example of  intensity in the making.

Hopefully, with minimal breakdown (another worthy discussion topic), our MRT ecosystem will serve us well into the 2030s.

Hope it makes some sense? Thank you.

[0:16 pm, 14/10/2022] +Smiley face: Hi Andrew, thanks for the emoji...

How about NASA?

Simply, "Never A Straight Answer'...

Thanks.

[0:17 pm, 14/10/2022] +Rama: You never fail to surprise me!

[0:19 pm, 14/10/2022] ☸️  Danny 心: 

1. Nobody like a price hike, though small increments, albeit in the midst of nasty inflation.

2. But companies need to be viable, not making loss so as to be able to serve the customers.

3. As read, SMRT is still profitable but SBS transit is making loss as it has more buses that use petrol (the impact of high energy price).

4. Hence a small fare increase is justifiable - provided that those vulnerable are given assistance to cushion the fare increase.

5. As observed, private hire and taxis fare increases are pretty steep.

When energy price drop in the future, hopefully fare can be adjusted downwards.

[0:24 pm, 14/10/2022] +Smiley face: Hi Andrew, likes your message...here it goes again...

"Having a bit of fun while in the mist of chaos and uncertainties, isn't it true, that's life? (苦中 作乐?)"

- - annoymous

[0:25 pm, 14/10/2022] ☸️  Danny 心: 

6. The MRT network plus future up and coming ones - has provided good coverage to many parts of Singapore making it very convenient for commuters.

7. Except that the MRT and bus service is up to 12 am. Then will have to rely on the more expensive private hire or taxis.

[0:32 pm, 14/10/2022] +SL: I think time is insufficient if cross-region travel within the island. If only start to take bus/train near the last trip after work late, taxi and private hire transport are required.

[0:33 pm, 14/10/2022] +Rama: Yes

[0:33 pm, 14/10/2022] +Rama: Maintenance of bus and track hold back extended hours

[0:37 pm, 14/10/2022] +Smiley face: 14 October, 2022

Having a bit of fun while in the mist of chaos and uncertainties, isn't it true, that's life? (苦中 作乐?)

Bloomberg (12 October, 2022)

"PM Truss has hinted at why she thinks the welfare increases should be on the chopping block as she tries to fund her proposed, albeit amended, tax cuts. “When people are on a fixed income, when they are pensioners, it is quite hard to adjust,” she told LBC Radio last week. “It’s a different situation for people who are in the position to be able to work.”

Commentary:

A broad based welfare (害或爱)ecosystem will erode the Will to work and moving towards a relaxing mode? These "relax" habits are hard to ease off.

So how and what can be done?

Simply, too much to stomach-in and rushing against time to resolve from bonds to currency to economies?

Concepts:

Help or Harm (害或爱)

This five cents and that five dollars increased, it helps or it further harms our existential way of daily living?

To overly subsidised on tangibles will become the above example of an imploding welfare system in the making and the consequential effects and impacts of that situation!

     - - in progress - -

[0:39 pm, 14/10/2022] +Smiley face: Extended work time will become an issue when the work life calibrates into a 4 days workweek?

Forget about the weekends catching up maintenance schedules? 

Let's think and try solving this interesting point raised. Thanks.

[0:41 pm, 14/10/2022] +Rama: Don't expect to see 4 day work week during my life time

 

[0:44 pm, 14/10/2022] ☸️  Danny 心: 

Only these countries have 4 days work week.

I hope Singapore will not join them if Singapore wish to remain a competitive nation.

[0:44 pm, 14/10/2022] +Rama: Agree

[0:49 pm, 14/10/2022] +SL: One of the contributors in UK pension funds issue the LDI investment model.. The issue becomes significant when the mkt is short of capital investment in 30 yrs uk bonds.

[0:53 pm, 14/10/2022] +Smiley face: 14 October, 2022

"Wait lah, soon, akan datang..."

How to be that David (red dot) that beats the Goliath (inflation)? After all, there is really nothing to loose now to seek ways to resolve many micro (can try) and macro(less able to do so) problems given the massive mess we are living in, daily!

(Disclaimer, read like a novel, be like a novice and may not work in this non-fiction world)

     - - in progress - -

[1:57 pm, 14/10/2022] +Smiley face: 14 October, 2022

Good afternoon Everyone!

To: Our Distinguished Leaders and All Honorable Members

"Impossible exists only in the dictionary of fools..."

- - Napoleon

The life cycles and the economics cycles, greed or glory?

Artificial Interventions (aka AI):

From (simplest form) a primitive (primeval to medieval) community to industrial revolutions and into the Dynamics of the 21 centuries of (high impact) higher technologies. What is life then and now and these cycles of change brought to all human and the improvements of societies? What's the equation of inequalities (from caste into class and onto classics?) and many costs to pay for in exchange for an advance and efficient working orders and a  higher civilisation?

On the other cycle, that is ec…

[2:00 pm, 14/10/2022] +REACH: 📢 Topic 📢

On Wednesday, the Public Transport Council (PTC) announced that public transport fares will rise by 2.9% from Dec 26. The PTC said a major contributor to this was the increase in energy costs, which rose by 117%  in 2021 due to the global energy crunch. 

💬 What are your views on the public transport fare rise? Do you think Singapore's public transport system is sufficient to meet commuters' evolving needs and the system's future challenges? 

PTC Chairman Ms Janet Ang said that the PTC focused on ensuring there would be minimal increase in fares for the needy and vulnerable. The increase in concession card fares will also be capped at 1 cent per journey for students, senior citizens, lower-wage workers, and people with disabilities.

To help l…

[2:09 pm, 14/10/2022] +Ah Heng: think the concern here is more on if the fare rise is just? if the population keep increasing how can the public expect to have personnel space in transport system (public) and please why is taxi not consider public transport

[2:11 pm, 14/10/2022] +Ah Heng: over all the increased swill be view by many on a per mth basis rather than on per trip , it might be minor increased but on mth to mth to some families it might be alot given the increase in things around us and alot of uncertainty  globally which we will sure to be affected

[2:12 pm, 14/10/2022] +Ah Heng: so is not weather it is sufficient .. is more of $ and cents matters

[2:12 pm, 14/10/2022] +Kenneth: I think the low income are well taken care of but is those middle income (neither upbor down) that is affected the most. Will the govt do anything for this group?

[2:13 pm, 14/10/2022] +Ah Heng: is always the middle income that suffer -> just like in any file and rank since when will the top and bottom feel the pressure .. is the middle layer to cushion the top and to shelter the bottom layer

[2:15 pm, 14/10/2022] +Ah Heng: anything to touch with the purse strings of any citizens will have a ripple effect -> cost of living, family building, mental and health care , social issues ...yes we cannot have a win win situation for all at govt expense but can it be a more softer approach given the current uncertainty globally

[2:16 pm, 14/10/2022] +Ah Heng: not asking the govt to be a nanny and shelter us always but also have to think while the shelter is there, rather how is the people going to thrive in the waves while being shelter so that all will come out stronger after the storm

[2:58 pm, 14/10/2022] +Khuan Yew: I think the increase is reasonable. 5 cents increase per trip and 2 trips a day for a working adult, 23 days a month = $2.30, which is less than the price of a bubble tea. Commuters should put the cost increase into perspective since they can cut their spending elsewhere by this small amount. 

Most importantly the low income, seniors and school children are protected from the increase. I think this is a fair solution whereby the working adults bear the costs increase. I’m thankful that in Singapore there is a good and affordable public transit system. In other countries where private transport is the main form of transport, the impact to low income earners is greater due to the increase in fuel costs. 

However, the public transport network needs to develop from a model where it is built only when there are sufficient residents. It should be built earlier before the sufficient population is achieved because it takes about 10 years to build an MRT line. For example, there are many new HDB flats coming up in Tampines North but the public transport network is poor and residents have to rely on buses. For young couples moving into their flats, they will be concerned about transportation especially when they have kids and costs of cars are very high now. Therefore, MRT network should be available when new HDB towns are open, not when some residents have lived there for 20 years.

[3:18 pm, 14/10/2022] +Smiley face: Hi Khuan Yew, great pointers. Thanks.

Add-on:

School bus services, how much would it goes up for younger children depending on these "uncle & auntie" school buses?

Any idea what's the present fare per kid per month?

Starting at $60/mth and onwards?

[3:18 pm, 14/10/2022] +Rama: Agree

[3:18 pm, 14/10/2022] +Linda Seng: $180/mth

[3:19 pm, 14/10/2022] +Linda Seng: For the school bus fare

[3:21 pm, 14/10/2022] +Linda Seng: For the public transport, the child fare is between $0.43 to $0.64 per trip base on distance if I didn't remember wrongly

[3:30 pm, 14/10/2022] +Smiley face: Thank you.

Younger kids may need this private school bus services. Parents may be busy due to working rush hours and school timing.

$180 is a big number.

[3:30 pm, 14/10/2022] +REACH: $1.5b package to help S'poreans cope with inflation; 2.5m people to get up to $500 in cash

More: https://str.sg/wVk6

5 help measures in October's $1.5b support package

More: https://str.sg/wVk2

[3:31 pm, 14/10/2022] +L or BL: Singapore PT is reliable, efficient, clean and cheap. The % will seem high because the base level is so low. Hopefully a few cents isn't going to cause problems for people.

[3:33 pm, 14/10/2022] +L or BL: Yes, I'd go as far to say that those who can afford it should pay more, even to further subsidies the concessions. A very small increase for 90% would make a huge difference to the 10% who need it. Does anyone know the % of people using PT that get concession fares?

[3:34 pm, 14/10/2022] +L or BL: In respect to the PT increase, do middle earners need help?

[3:39 pm, 14/10/2022] +Linda Seng: Yes it is a big number for parents.

[3:39 pm, 14/10/2022] +Ken Loh: Low income is a problem

[3:39 pm, 14/10/2022] +Smiley face: Can these private school bus operators enjoy a "cooperatives" fuel prices that is petrol and diesel.

To buy these fuels at below the COMMON kiosk prices? Twice weekly?

Just like NTUC cabs enjoying reduced diesel price at designated pump station.

[3:40 pm, 14/10/2022] +KL: Frankly I like to say all the policies only benefit rich and elites . When PT was listed is was earning a lot of money but was not well spent we tax payers or consumer pay the bills . They hire non local to drive the transport other than train so it become a evil karma . More foreigner = less wage. Push up commodities prices . It continue

[3:41 pm, 14/10/2022] +KL: By right , it should be citizen earn and tax income so each level get a portion of the gdp increase .

[3:41 pm, 14/10/2022] +Smiley face: Hi Ken,

With escalating energy prices, this example private school bus service...if affordability is not an issue, perhaps $200 per child would not matter much to these families?

Affordability and Accessibility.

[3:41 pm, 14/10/2022] +KL: So when the optimal level is break it cause big issue

[3:42 pm, 14/10/2022] +KL: Today issues is result of last decade porblems

[3:42 pm, 14/10/2022] +Ken Loh: Don’t know how I survive on $600 a month last time 😂

Not very hard

[3:42 pm, 14/10/2022] +Ken Loh: Now” very hard

[3:42 pm, 14/10/2022] +KL: When I was nsf I spend 60 on concession

[3:42 pm, 14/10/2022] +KL: Give parent 100

[3:43 pm, 14/10/2022] +KL: Ppl eat MacDonald I see see see

[3:43 pm, 14/10/2022] +Rama: Just like UK!

[3:43 pm, 14/10/2022] +Ken Loh: Lol I don’t even want to come out of camp.. stay in volunteered

[3:43 pm, 14/10/2022] +KL: Ate saf

[3:43 pm, 14/10/2022] +Ken Loh: To save of the $60

[3:43 pm, 14/10/2022] +Ken Loh: Life is tough.. but no choice.. either work hard to earn more. 

Upgrade upskill

[3:43 pm, 14/10/2022] +Ken Loh: Only way

[3:44 pm, 14/10/2022] +KL: Sorry if I remember correctly you did not serve ns :( right ?

[3:44 pm, 14/10/2022] +Rama: Yes

[3:44 pm, 14/10/2022] +Ken Loh: I served.. but as clerk 😂

[3:45 pm, 14/10/2022] +Ken Loh: Didn’t cut out to be sgt 🥲 OOC

[3:45 pm, 14/10/2022] +KL: Sorry I remeber incorrectly cos I remember I say u got pes E or C

[3:45 pm, 14/10/2022] +KL: So not sure I serve or not

[3:45 pm, 14/10/2022] +Ken Loh: Nope didn’t say that before

[3:45 pm, 14/10/2022] +KL: So I think a lot of issue need to think about which is too late

[3:46 pm, 14/10/2022] +Ken Loh: Admin spec 😂 but without the spec rank

[3:46 pm, 14/10/2022] +KL: It not about increase 5 cents or 10 cents

[3:46 pm, 14/10/2022] +Ken Loh: In all our transport is still relatively affordable

[3:46 pm, 14/10/2022] +KL: It not about  200 of us opinion

[3:46 pm, 14/10/2022] +KL: It about sg as a whole

[3:47 pm, 14/10/2022] +KL: Who are thinking are correct or wrong

[3:47 pm, 14/10/2022] +Ken Loh: The transport company need to learn how to earn side income.. waste space. All the ads space wasted they really need to work hard on that

[3:47 pm, 14/10/2022] +Ken Loh: So no need to increase transport for revenue stream

[3:47 pm, 14/10/2022] +Rama: That's why our various taxes must keep pace for things such as this!

[3:47 pm, 14/10/2022] +Smiley face: That's Ben Bernanke's time... perhaps...?

[3:48 pm, 14/10/2022] ☸️  Danny 心: "

From taxi driver to software engineer in 9 months".

53 years old join train and placement course.

 https://www.straitstimes.com/singapore/parenting-education/from-taxi-driver-to-software-engineer-in-9-months#:~:text=From%20taxi%20driver%20to%20software%20engineer%20in%209%20months

[3:48 pm, 14/10/2022] ☸️  Danny 心: 

https://singapore.generation.org/#picker

[3:48 pm, 14/10/2022] +Ken Loh: I also transforming to be one 😆

[3:48 pm, 14/10/2022] +SL: https://www.todayonline.com/singapore/govt-support-measures-fully-shield-bottom-40-households-expected-inflation-2022-mof-report-2019886?cid=internal_sharetool_iphone_14102022_today

[3:48 pm, 14/10/2022] ☸️  Danny 心: 

Upskill is the only way to earn better income.

[3:49 pm, 14/10/2022] +Ken Loh: For sure… but need to have access like internet or a computer

[3:49 pm, 14/10/2022] +KL: Actually Gov should not keep talking about tech . It must be optimal level

[3:49 pm, 14/10/2022] +KL: Now all tech gaint are axe staff

[3:49 pm, 14/10/2022] +KL: If not headcount freeze

[3:50 pm, 14/10/2022] +Rama: Congratulations

[3:50 pm, 14/10/2022] +KL: So it ppl job to forecast

[3:50 pm, 14/10/2022] +Ken Loh: Demand will still be there… axe is just company way of cut without any issue cause recession

[3:50 pm, 14/10/2022] +Ken Loh: The company still earning way way more than normal

[3:50 pm, 14/10/2022] +Ken Loh: Python anyone?

[3:51 pm, 14/10/2022] +SL: Years ago, a company did not focus on its core business and ventured into a side business, and it seems like residents cannot take the consequences.

[3:51 pm, 14/10/2022] +KL: As for raise of transport fee like I say it not about 5 or 10 cents it about the whole things ppl see u

[3:52 pm, 14/10/2022] +KL: During covid i think only 1.20 to 1.30

[3:52 pm, 14/10/2022] +KL: Now around 1.60

[3:52 pm, 14/10/2022] +KL: It already 30/1.20

[3:52 pm, 14/10/2022] +KL: 25%

[3:52 pm, 14/10/2022] +SL: Transport companies need to be able to survive to provide service to the mass public

[3:53 pm, 14/10/2022] +Ken Loh: There need to be a balance.. unless we willing to subsidy more.. we are paying for most of the transportation system already 😅

[3:53 pm, 14/10/2022] +Ken Loh: From government money

[3:53 pm, 14/10/2022] +Ken Loh: Take direct or take from tax

[3:53 pm, 14/10/2022] +Ken Loh: We have to choose I guess

[3:54 pm, 14/10/2022] +KL: Maybe should ask last 10 years profit where it went :) secondly I ask u hire mostly non local any impact to profit is bus fare increase need ? 

Thirdly I though u private the transport company Towner smrt sbs seem like just ?

[3:55 pm, 14/10/2022] +KL: If u say fuel increase than I no comment indeed fuel increase why u never hedge fuel when covid one barrel only 30-59 buck ur forecasting got issue :)

[3:56 pm, 14/10/2022] +KL: Maybe time to look new  economists liao

[3:58 pm, 14/10/2022] +Ken Loh: No space… lol we can’t hedge so much we don’t have space like big countries… 

We have a deep oil tank Liao… ASEAN biggest

[3:58 pm, 14/10/2022] +KL: Paper contracts

[3:58 pm, 14/10/2022] +Ken Loh: https://www.google.com.sg/url?sa=t&source=web&cd=&ved=2ahUKEwi39_nrn9_6AhXTV3wKHecmDCUQFnoECAoQAQ&url=https%3A%2F%2Fwww.jtc.gov.sg%2Ffind-space%2Fjurong-rock-caverns&usg=AOvVaw0oRlUgW9Gwgx7maE2tvP-4

[3:58 pm, 14/10/2022] +Ken Loh: Nope physical

[3:59 pm, 14/10/2022] +KL: Frankly I only a commoner can’t look at the forward contract of these companies

[3:59 pm, 14/10/2022] +KL: So not sure how u know that time the oil belong to who

[3:59 pm, 14/10/2022] +SL: We know that any service comes with a price. Because of inflation, the cost is increased to sustain the service level. Else, the cost-cutting measures will kick in, and quality will drop. Those transport companies need to maintain the quality of services, and hence additional fare is required to meet the target.

[4:00 pm, 14/10/2022] +Ken Loh: As long as come to Singapore we can have a cut.. that’s good enough

[4:00 pm, 14/10/2022] +REACH: 📢 Topic 📢

On Wednesday, the Public Transport Council (PTC) announced that public transport fares will rise by 2.9% from Dec 26. The PTC said a major contributor to this was the increase in energy costs, which rose by 117%  in 2021 due to the global energy crunch. 

💬 What are your views on the public transport fare rise? Do you think Singapore's public transport system is sufficient to meet commuters' evolving needs and the system's future challenges? 

PTC Chairman Ms Janet Ang said that the PTC focused on ensuring there would be minimal increase in fares for the needy and vulnerable. The increase in concession card fares will also be capped at 1 cent per journey for students, senior citizens, lower-wage workers, and people with disabilities.

To help l…

[4:02 pm, 14/10/2022] +KL: I think u need to think how to untilse WFH instead of earning from transport . I foresee wfh will be the next trend in the world

[4:02 pm, 14/10/2022] +Ken Loh: Quite expensive to WFH. No aircon need to pay for electricity 😅

[4:02 pm, 14/10/2022] +Ken Loh: No subsidy for food

[4:02 pm, 14/10/2022] +Ken Loh: 🥲

[4:04 pm, 14/10/2022] +KL: Wfh will solve sg part of our under population

[4:05 pm, 14/10/2022] +KL: Cos it will reduce manpower needed for some service in long run.

[4:08 pm, 14/10/2022] +KL: Wfh May even help to reduce sg health care bills :)

[4:09 pm, 14/10/2022] +SL: I am not sure whether a local land transport company will hedge fuel. I know air and sea transport providers will hedge fuel due to economies of scale. Inflation increases do not affect fuel only, it impacts all areas.

[4:09 pm, 14/10/2022] +KL: The article say due to energy cost mah

[4:10 pm, 14/10/2022] +SL: Oops. 😅

[4:10 pm, 14/10/2022] +KL: Plus inflation economists are pay to predict if not accurate please ask them to leave

[4:11 pm, 14/10/2022] +KL: Only OPEC is out of prediction

[4:12 pm, 14/10/2022] +KL: Unless u a superpower or u are opec member lol

[4:15 pm, 14/10/2022] +KL: I thought they hedge for risk only and earn some side income lol .

[4:17 pm, 14/10/2022] +SL: I think those companies with fuel as 1 of their critical cost hedge fuel for operation purposes - to stabilise the business's cost in the next few months to a year etc.

[4:18 pm, 14/10/2022] +KL: Correct operation risk

[4:18 pm, 14/10/2022] +KL: And to stabilise cash flow

[4:19 pm, 14/10/2022] +SL: Unless it is a commodities trading company or investment company in the natural resource trade business

[4:19 pm, 14/10/2022] +SL: Yes

[4:20 pm, 14/10/2022] +SL: The chief risk officer and chief operating officer are essential in managing the hedging risk

[4:20 pm, 14/10/2022] +KL: So some ppl are not doing their job well  .

[4:24 pm, 14/10/2022] +SL: Hedging risk is very fluctuation, and the model of hedging is the key to success in hedging. The effectiveness of a model changed as the environment changed. The model is supported by data input, system, manpower, criteria, environment sensing. It might not be a people issue.

[4:24 pm, 14/10/2022] +KL: But can’t be always increase mah

[4:24 pm, 14/10/2022] +KL: Since it always increase you hedge it

[4:26 pm, 14/10/2022] +KL: 1.3 to 1.51

[4:26 pm, 14/10/2022] +KL: It already few percent since March

[4:26 pm, 14/10/2022] +SL: The supply and demand side also performed the hedging for the same duration. Hedging for a price up and hedging for a price down are also available.

[4:27 pm, 14/10/2022] +KL: True

[4:27 pm, 14/10/2022] +KL: It their job to predict if not pay in millions

[4:27 pm, 14/10/2022] +KL: If pay millions not accurate something is wrong

[4:28 pm, 14/10/2022] +KL: Btw I do keep track by per trips

[4:30 pm, 14/10/2022] +KL: Is it 2.9% or higher everyone can tell

[4:32 pm, 14/10/2022] +KL: Since March 2022 I think increase a lot liao

[4:33 pm, 14/10/2022] +KL: Express bus also increase from 1.50 to 2.20 if I not wrong but okay that my fault cos too tired.

[4:33 pm, 14/10/2022] +KL: Sorry 1.50 to 2.11

[4:33 pm, 14/10/2022] +KL: :)

[4:41 pm, 14/10/2022] +Rama: This will fluctuate as the population ages and replacement birthrates are inadequate.

[4:48 pm, 14/10/2022] +jimmy chew: Earlier in the decade SIA did and the price of oil drop to USD 20. So they Lost 🤣

[4:48 pm, 14/10/2022] +KL: Ya I know

[4:48 pm, 14/10/2022] +KL: They win for decades

[4:48 pm, 14/10/2022] +KL: I was surprise they lost so much

[4:49 pm, 14/10/2022] +jimmy chew: I hope they'll adjust back when oil prices drops

[4:49 pm, 14/10/2022] +KL: If not need few rounds of assistance

[4:55 pm, 14/10/2022] +KL: Did U see when the flag down price of taxi decrease when covid ?

[4:55 pm, 14/10/2022] +KL: :)

[4:55 pm, 14/10/2022] +KL: After covid now is 4.10

[5:12 pm, 14/10/2022] +jimmy chew: Singapore is always progressive

[5:12 pm, 14/10/2022] +jimmy chew: 🤣

[5:13 pm, 14/10/2022] +KL: Sorry just check I saw is 3.90 I remember seeing 4.10 a lot cab

[5:13 pm, 14/10/2022] +KL: From. 3.30 to 3.90 a lot leh

[5:14 pm, 14/10/2022] +KL: :( so I wonder did I dream about 4.10 :(

[5:14 pm, 14/10/2022] +Rama: Probably happening next year😄

[5:18 pm, 14/10/2022] +Tan Kay Eng: Just saw on the road. Some 3.90.some 4.10 🤭🤭

[5:19 pm, 14/10/2022] +KL: Thanks for helping to bring me back to reality I thgt I dreaming or some ah gong number

[5:21 pm, 14/10/2022] +KL: Really tough :(

[5:22 pm, 14/10/2022] +KL: Taxi is a luxury for me but necessary for old folk and handicapped . So incant really say a luxury items

[5:22 pm, 14/10/2022] +REACH: About 10,500 more students to benefit from financial support, bringing total to 135,500

More: https://str.sg/wVkF

Measures rolled out in 2022 fully covers inflation impact for households in bottom 40%: MOF report

More: https://str.sg/wVZ5

[5:23 pm, 14/10/2022] +KL: Unfair for minority

[5:34 pm, 14/10/2022] +KL: We need to discuss this report ? :)

[6:00 pm, 14/10/2022] +REACH: 📢 Topic 📢

On Wednesday, the Public Transport Council (PTC) announced that public transport fares will rise by 2.9% from Dec 26. The PTC said a major contributor to this was the increase in energy costs, which rose by 117%  in 2021 due to the global energy crunch. 

💬 What are your views on the public transport fare rise? Do you think Singapore's public transport system is sufficient to meet commuters' evolving needs and the system's future challenges? 

PTC Chairman Ms Janet Ang said that the PTC focused on ensuring there would be minimal increase in fares for the needy and vulnerable. The increase in concession card fares will also be capped at 1 cent per journey for students, senior citizens, lower-wage workers, and people with disabilities.

To help l…

[6:03 pm, 14/10/2022] +Caleb: how about we increase all public car parks, parking rates, to subsidies the public transport?

[6:07 pm, 14/10/2022] +Caleb: and with the raising cost of living, means more GST have been collected this year. must we still increase GST?

[6:07 pm, 14/10/2022] +SL: Diff types of taxi diff rates for flag down

[6:08 pm, 14/10/2022] +SL: Extracted from webpage

[6:10 pm, 14/10/2022] ☸️  Danny 心: 

That means this will further squeeze the middle income - because middle income people stay in HDB flats.

Very rich people stay in landed properties and condo.

They don't park their cars in public car park.

[6:11 pm, 14/10/2022] +danielhl chua: The headline should be 10,500 more students require financial support after inflation impact. 

There ought to have a survey done for to check in all students with their needs. 

Question such as: 

Did your family give you enough allowance for food and tpt? 

Anyone in your family is feeling stressed that affects your learning? 

And so on... There is so much ongoing in these students' life which impacts them deeply.

[6:12 pm, 14/10/2022] ☸️  Danny 心: 

On top of the high Coe, petrol prices they have to pay - and yet subsidise the public transport in which they don't used.

[6:14 pm, 14/10/2022] ☸️  Danny 心: 

It make sense for people who use the services pay for the services - this is appropriate social justice.

[6:15 pm, 14/10/2022] +KL: This report want us to praise them but well written. The root cause is  :

student define as below 18 abv 7

So by nric ( Dec born should end with 8436** **high estimate we should only have 35,000 to 39,000 kids x 12 total is ard 468,000 yet 28% need suppprt ? I think most year end with 35,000 right ?

[6:16 pm, 14/10/2022] ☸️  Danny 心: 

Redistribution of wealth - should not be done in such manner.

[6:20 pm, 14/10/2022] ☸️  Danny 心: 

Else it is equivalent to saying, those who own cars and stay in HDB flats must pay for the bus fare and MRT fares of public transport commuters.

[6:21 pm, 14/10/2022] +L or BL: It's an excellent system and approach that enables quiet(er) roads for car drivers and reliable transport for every else.

[6:22 pm, 14/10/2022] +Rama: Agree

[6:22 pm, 14/10/2022] ☸️  Danny 心: 

This is a more appropriate approach of redistribution of wealth - through a fiscal approach.

[6:23 pm, 14/10/2022] ☸️  Danny 心: 

Through a budget surplus.

[6:23 pm, 14/10/2022] +L or BL: If we didn't subsidise PT then it would be prohibitively expensive. We don't say only pay for the Police if you use the police, do we.

[6:24 pm, 14/10/2022] +Rama: Definitely

[6:24 pm, 14/10/2022] +L or BL: Every major city in the world has terrible traffic problems, except Singapore.

[6:24 pm, 14/10/2022] +Rama: Learn from us humbly and apply accordingly

[6:24 pm, 14/10/2022] +L or BL: We have cheaper taxis and PT and quieter roads than any other developed city in the world.

[6:25 pm, 14/10/2022] +Rama: Great foresight planning with understanding of the problems elsewhere

[6:25 pm, 14/10/2022] +L or BL: The COE prevents lower income families from buying cars, yes, but the PT still enables them to move around for work and social engagement.

[6:26 pm, 14/10/2022] +L or BL: Accessible transport is a key requirement for good social engagement, active employment and access to services

[6:27 pm, 14/10/2022] +L or BL: A car is a luxury anywhere and SG makes you pay for it, with good reason.

[6:27 pm, 14/10/2022] +L or BL: Fortunately our low cost cabs (relatively) are available when necessary

[6:28 pm, 14/10/2022] +Liangwei: The following would be useful

1) when the Gov collates data on price increases, in the context of a family of four, with two elderly parents to support, what is the average financial burden increase year on year for five years if they

A) are a family that uses public health care, public transport, eat at food court one meal a day X five days a week, buy a four room hdb

B) same as above but buys a condo

By looking at total burden compared to wage increase of two earning adults in the 20s n 30s, then we can see whether the overall package is one that will kill aspiring young pple wanting to form families or encourage birth rates.

[6:28 pm, 14/10/2022] +Liangwei: Isolated justification of peculiar areas of financial strain is insufficient because that is not the actual experience.

[6:30 pm, 14/10/2022] ☸️  Danny 心: 

Policy makers don't antagonise one group to appease another group in public policy making.

It will trigger social fissure.

If don't believe, tell the government to pitch using this approach - you will trigger a social disharmony.

[6:32 pm, 14/10/2022] +L or BL: Of course not, I agree.

[6:34 pm, 14/10/2022] +Caleb: hmmm, then increase ERP...

[6:39 pm, 14/10/2022] ☸️  Danny 心: 

The objective of ERP is to control congestion.

Not to collect taxes to subsidize public transport.

Every govt policies have a purpose so that it cannot be abuse or diverted to fulfill other unintended purposes.

[6:39 pm, 14/10/2022] +Rama: Agree

[6:40 pm, 14/10/2022] +Caleb: I mean increase ERP to have more money for all other gov expenses

[6:40 pm, 14/10/2022] ☸️  Danny 心: 

Else why not say increase taxes on smoking 100% to fund public transport?

[6:40 pm, 14/10/2022] +Caleb: Not directly subsidy Pt

[6:41 pm, 14/10/2022] ☸️  Danny 心: 

ERP purpose is to control congestion - not taxes to boost government revenue.

[6:42 pm, 14/10/2022] +Rama: I would welcome an increase in tobacco tax but gradually.  Fund health promotion programmes.

[6:44 pm, 14/10/2022] ☸️  Danny 心: 

There is an implicit tie in this policy to healthcare program.

[6:45 pm, 14/10/2022] +REACH: Dear 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 😊

[6:45 pm, 14/10/2022] ☸️  Danny 心: 

Else if business cost go up, or bosses find it too expensive to do business, they more cut jobs or move their business out.

Then it backfire on those who scramble to do robin hood.

[6:50 pm, 14/10/2022] +William: Hope there will be cash vouchers for Singaporean family earning less than 100k Annually to ease this increase. 😔

[6:51 pm, 14/10/2022] +Rama: I believe the living expenses supplement is this

[6:52 pm, 14/10/2022] +Caleb: +1

[6:59 pm, 14/10/2022] +Smiley face: -- continues from Part 1/2 - -

"While others jumped or attempts to jump, you stay put and watch these ripple of aftershocks..."

- - annoymous

How to stop this depressing rhythm of economics?

Ideally speaking, an old saying if, "money is the road to all evils" we should avoid this endless highway of pain and disaster? If the order of numbers begin with 0 and ends at 9, how should one plan, rank and position in this numbers sequencing game (assuming zero sum in each unique event of occurance - micro & macro perspectives)? 

Economics History? 

Blips of Analytics -

In 1770-1780, the rate of inflation was 50%. Notable events are the Tea Act of 1773 and the Funding Act of 1775/77

In 1790-1800 it shrunk to -10%. Notable events are Bank of North America Act of 1781, First United States Bank Act of 1791 followed by Tariff, Revenue and Land Acts of 1792, 1794 & 1796-1800 respectively.

By 1820-1830, it was -30%. In 1860-1870 it rose to 47%. Notable new Act is the Preemption of 1830.

By 1900-1910 it mushroomed to 20%. By 1930-1940, it's sank to -25%. Notable events are the Currency and Gold Standard Acts of 1900 and WW1 in 1914-1918. 

In 1940-1950, big growth of over 56% rate of inflation. The last peak was in 1970-1980 which hot up to 65%! Notable Acts are Bretton Woods,  Federal Reserve, Banking, Securities Exchange, Communications, Federal Credit Union, National Housing, Gold Reserve, Bankruptcy, Natural Gas, Civil Aeronautics, Fair Labor, Food, Drugs and Cosmetics, Trust Indenture, Investment Company and many other Acts from 1931 to 1940 and WW2. 

(data: courtesy of Princeton University, Dept of Economics & Dept of History)

Back to the future-Now!

It has been over four decades since the last big one (hyper inflation) happened. That's a retrospective of the account of inflation.

Now or Never(mind)?

Long term debts from previous three or more decades resulted in today's entanglements and bubbles (Quantitative Easings). If there is no bubble, then no worry of a recess or a worse scenario of a depression which seems to mirror many previous economics History from 1700s to 2020s? The up and down and up, all ends at one COMMON spot that is growth and lately monetary growth (M2) and escalating values of all assets class. Is it true or not so ?

So how to be a David fighting that monstrous Goliath?

A small size government coupled with a lower inequalities of society and massive Capital inflows across strategic industries to support and sustain the micro economics. In an 'ideal' scenario of a recession and a contraction of business activities is to minimise unemployment so much so that it is almost zero unemployment that the cost of job support measures and retrenchment benefits would not be a reality, importantly, no becoming a liquidity issue to an economy or a company! 

In Micro Steps?

Stabilising the internal wages across our microeconomies. NWC and stakeholders will enable this stabilisation of wages.

Two, provide meaningful/purposeful interventions similar to the JSS to hold things upwardly and be doubly pro-active in placement'of jobs. Try not to overly intervent through subsidies; 75% of citizens will get-by with the least helpings for the next four quarters or longer. Let the next review of costing before Budget 2023 which will be in February.

Three, build a micro and robust  system to weather any unforeseeable external shocks from supply chain disruptions to counter parties risk and seek for a lower growth (GDP) period.

Four, all governments need to tax to exist and provide good initiatives and public services. By reassessing our tax systems other than personal and corporate. Identifying any citcumventing of taxable items from GST, imports, inter-entity transfers to properties. These accumulated tax collectables (closing the loopholes) will yield a fairer outcomes and the man on the street will applaud and call it 'Equals' (you spent more, you pay more; you earning more, you get taxed fairly)? 

On personal finances?

Save more, spend wisely and try to reduce exposure to debts. Buying gold as a safe haven is only for those whom have extra means and cash to play this shinning metal. Try to postpone purchase of properties unless your debt ratio is healthy or buy what you can comfortably afford to service this loan plus other expenses.

Summarising, hope that our policymakers would look into the above suggestions and expand it to 'cushion' internally; today, it seems to be an ever highly chance of a hard fall, this worrying Macro recession and let not it becomes another Great Depression of the 1930s? Fact is, a handful of top economists are already saying that it will not be so bad Q4-2022 and into 2023!

             - - Part 2/2 - -

(It is a multi level complex game of external geopolitics and micro economics in play. Executing and managing prices, equilibrium of supplies/ demands, fiscal & monetary policies and inflation. More time is needed to expand the above broad perspectives in detailed actions on how to deal with so many inter-connected variables, one at a time and so on, 'untying the Dead  knots'...)

Good nite and have a great weekends!

[7:00 pm, 14/10/2022] +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 😊

====

REACH 402 - What are your views on the latest announcements by MOH on 7 Oct? Will you be making an appointment for COVID-19 booster vaccination soon? Why or why not?

(SK)

10 Oct 2022 (10am - 7pm)

REACH

[9:46 am, 10/10/2022] +REACH: Dear Contributors,

Welcome back! 😊

⏰ We will be opening the chat from 10am to 7pm today. ⏰

House Rules (short version of our Terms of Use) to keep in mind: 

1. Be kind and respectful. We all want to be in a safe space to share our views. 

2. Any and all threatening, abusive, vulgar or racially, religiously and ethnically objectionable content is prohibited.

3. Consider the quiet ones among us and give them a chance to comment.

4. No need to repeat your comment or in different forms (including caps) - we heard you loud and clear the first time.

5. Let’s protect each other’s privacy and keep contact details in this group what it should always be - confidential. 

Full set of Terms of Use: https://go.gov.sg/reach-whatsapp-terms

We will strive to uphold these rules to ensure this is a safe space for all.

Please be assured that the points made by participants during the chat are aggregated and shared with relevant agencies.

The topic will be posted shortly.

Thank you

Megan 😊

[10:00 am, 10/10/2022] +REACH: 📢 Topic 📢 

The Ministry of Health (MOH) announced on Friday that vaccination -differentiated measures (VDS) will no longer be required for events with more than 500 participants, nightlife establishments where there is dancing and dining at food and beverage establishments, including hawker centres.

Health Minister Ong Ye Kung said: "This means that vaccination has become our primary defence against the virus. While the situation remains stable now, new and more dangerous variants may surface in the northern winter. We need to get ourselves properly vaccinated in anticipation of that scenario. Do so early, rather than try our luck and not strengthen our protection when we have the time and space to."

💬 What are your views on the latest announcements by MOH on 7 Oct? Will you be making an appointment for COVID-19 booster vaccination soon? Why or why not?

As things return to normalcy, the country will also transition to a new strategy of up-to-date vaccination, instead of counting the number of shots and boosters individuals receive. MOH said it will be similar to influenza vaccinations, where individuals are advised to take them periodically, so as to protect against new strains of the virus as they arise. 

For those aged 50 and above:

After achieving minimum protection, they should receive an additional booster dose between five months and one year from their last dose. To be considered as being up to date, they will need to get an additional vaccine dose within five to 12 months of their last dose above getting the minimum protection of three mRNA or Novavax/Nuvaxovid doses, or four Sinovac-CoronaVac doses.

For all adults aged 18 and above: 

Individuals will be considered to be up to date with their Covid-19 vaccination if they have received at least the minimum protection and their last vaccine dose was received within the past one year. The use of the bivalent vaccine to replace the current formulation has been recommended by the Expert Committee on Covid-19 Vaccination, MOH said on Oct 7. The ministry added that it will replace the original Moderna/Spikevax vaccine with the updated bivalent version from Oct 17.

👉🏼 COVID-19 vaccination-differentiated measures to be lifted from Oct 10 as S’pore enters new phase of normalcy - https://str.sg/wHdH

For those aged five and above: 

The ministry will roll out vaccination and booster jabs for two groups of children from Oct 25. They should complete three mRNA or Novavax/Nuvaxovid doses, or four Sinovac-CoronaVac doses, to achieve minimum protection. From Oct 18, parents or guardians may register their interest for their child or ward to receive the Moderna/Spikevax vaccination at https://child.vaccine.gov.sg/.

📌Please visit MOH’s website for the latest updates on Singapore’s COVID-19 situation - https://www.moh.gov.sg/covid-19 

👉🏼 Those above 50 urged to keep up with vaccine shots as vaccination-differentiated measures are lifted -  https://str.sg/wH7T

👉🏼 Vaccination still key to reducing excess deaths resulting from COVID-19 - https://str.sg/wH4m

👉🏼 Moderna/Spikevax bivalent vaccine same safety profile as original dose: Ong Ye Kung -  https://www.channelnewsasia.com/singapore/moderna-spikevax-bivalent-vaccine-safety-profile-original-ong-ye-kung-2997786

-----

[10:04 am, 10/10/2022] +L or BL: What about those who are recovered from Covid? Are they recommended Boosters after what period since recovering/vaccinated? "For those aged 50 and above:

After achieving minimum protection, they should receive an additional booster dose between five months and one year from their last dose. To be considered as being up to date, they will need to get an additional vaccine dose within five to 12 months of their last dose above getting the minimum protection of three mRNA or Novavax/Nuvaxovid doses, or four Sinovac-CoronaVac doses."

[10:04 am, 10/10/2022] +SL: Wait and see approach. Not sure what to do yet.

[10:06 am, 10/10/2022] +L or BL: Will get my booster, yes, but was thinking if a newer version might become available :)

[10:07 am, 10/10/2022] +SL: Ba2.7 series?

[10:07 am, 10/10/2022] +L or BL: Also, the information changed from over 50's recommended, to over 60s recommended, is it back to over 50s again?

[10:19 am, 10/10/2022] +65 9876 5095: ?

[0:43 pm, 10/10/2022] +Smiley face: https://youtu.be/JRPkfGKI5ao

10/10/2022

Good Afternoon, Everyone!

"Using complexity to solve complex problems...?"

- - annoymous

Population:

Los Angeles 12.5 million

State of Florida 22.0 million

Kuala Lumpur 8.20 million

Bangkok 10.8 million

Florida is a Republican state, are there any bias in play? Going into November,  the US mid-term elections, how about it's Vaccine advisory, any bias? 

How about California, a Democrat state, what's their Vaccine advisory?

[1:24 pm, 10/10/2022] +L or BL: Having read the articles, I'll be getting my 2nd booster in November. :)

[1:28 pm, 10/10/2022] +RH: Me too.

But since the new bi-valent version is fr Moderna, I may as well get my Pfizer booster shot.

Since I took all 3 same - Pfizer - less problem.

😁

[1:29 pm, 10/10/2022] +L or BL: Ah ok, I mixed it up for my first booster. Maybe I should go back to Pfizer for the 2nd Booster 😂

[1:30 pm, 10/10/2022] +RH: Was waiting to see wat's new.

So, let's see in Nov ... 

Yes. I'm talking abt 2nd booster (shot #4). 😁

[1:31 pm, 10/10/2022] +RH: Since they announced the new one is fr Moderna. 

Can't wait alredi.

Nearing 12 months since my 1st booster.

[1:32 pm, 10/10/2022] +L or BL: Yes, same as me, I've got 6 weeks before I'm not considered vaccinated anymore, even though I had covid in July this year (mild but tested positive for 1 week)

[1:33 pm, 10/10/2022] +RH: If u had no severe reaction prev, then take the same brand. 😉

[1:35 pm, 10/10/2022] +SL: Am I right that pfizer bivalent focus ba4, ba5? I read this on newspaper article online

[1:36 pm, 10/10/2022] +RH: Eh? 

I'm not sure. I thot I saw Moderna.

Can share link pls?

[1:36 pm, 10/10/2022] +RH: https://www.channelnewsasia.com/singapore/moderna-spikevax-bivalent-vaccine-safety-profile-original-ong-ye-kung-2997786

[1:37 pm, 10/10/2022] +L or BL: Moderna was a stronger dose, so hard to know if I reacted more because of that. On all doses I felt a bit tired for a day, but nothing more.

[1:37 pm, 10/10/2022] +RH: Then chk w yr GP.

They r the best to advise.

[1:59 pm, 10/10/2022] +65 9825 0319: LoL. Moderna made me like dying... Then my third dose pzfier...freeze my arms for 5 days n made me rashes all over..🫣

[2:01 pm, 10/10/2022] +L or BL: Ouch!

[2:12 pm, 10/10/2022] +REACH: 📢 Topic 📢 

The Ministry of Health (MOH) announced on Friday that vaccination -differentiated measures (VDS) will no longer be required for events with more than 500 participants, nightlife establishments where there is dancing and dining at food and beverage establishments, including hawker centres.

Health Minister Ong Ye Kung said: "This means that vaccination has become our primary defence against the virus. While the situation remains stable now, new and more dangerous variants may surface in the northern winter. We need to get ourselves properly vaccinated in anticipation of that scenario. Do so early, rather than try our luck and not strengthen our protection when we have the time and space to."

💬 What are your views on the latest announcements by…

[2:20 pm, 10/10/2022] ☸️  Danny 心: 

1. Whenever our Government annouce a policy, I will take it seriously and read thoroughly to understand the intent of the policy - because the policy will normally has a profound influence on our population.

2. This is especially so if the policy has the backup of specialists or experts inputs - that are not easily understood by common man in the street.

Infectious diseases like covid will have been thoroughly studied - and well-thought out policy will have emerged to put forth to the population - so that our population will be adequately protected.

3. I will support the Government call to get the 4th updated bivalent booster that will help to protect the population.

4. As for my case, I will wait and see for a few more months - what further development from the covid scene - the mutation of new variants, and the progress of the various vaccines - be it the injection, nasal spray or oral types.

5. The reasons being:-

a. My family, my extended families, my close friend families - have almost all get their 3 jabs. 

b. Also a good many get infected recently on top of the 3 jabs - hence we felt that there is no hurry to get the 4th jab.

c. To me personally, the idea of getting a yearly jab like flu vaccination to boost the immune system each time the immune system decline frighten me.

The side effects after each vaccination are not pleasant.

d. It doesn't block covid infection, but instead rely on yearly booster to keep boosting the immune system after it decline and immunity weaken to prevent infection.

e. Hence I am looking towards a more effective solution - that block covid infection on the outset - which I hope is the nasal spray type.

f. If nasal spray vaccination is successful - it will block covid infection (regardless of variants or mutation) ---- and will effectively terminate covid from jumping human host or animal host to human host (in theory).

g. As read, there are few nasal spray solutions in development, put on trial, but no breakthrough announcement yet.

6. Hence, currently, I am still stick with the "improvised version" of using "face mask" as a substitute to "nasal spray".

I noticed it is quite effective - because one of my family member got infected with covid, stay at home for about 7 to 8 days isolated until he recovers - but the rest of my family members are not infected --- because we use our face masks diligently to block infection.

7. Hence, up to now, my family members are still religiously using face masks whenever we go outside - whether outdoor or indoor, or outside people visit our houses, and I still put on my mask when doing brisk walking or jogging.

8. To conclude, my stance is to watch the development closely - in terms of covid infection and its variants as well as the vaccination development notably the nasal spray solutions - that block covid regardless of variants from infecting human hosts.

[2:46 pm, 10/10/2022] +Smiley face: Nasal spray as one preventive tool is good. However, it is good at the Nose and throat areas. A early preventive spray, quite effective.

(Disclaimer, it is not a medical advice.)

[2:49 pm, 10/10/2022] +SL: https://www.cbc.ca/amp/1.6576365

[2:53 pm, 10/10/2022] +SL: https://www.chula.ac.th/en/clipping/87455/

[2:53 pm, 10/10/2022] +SL: An article from chulalongkorn university

[2:56 pm, 10/10/2022] ☸️  Danny 心: 

1. My consideration for nasal spray solution is very simple - to block covid infection (in which the current covid vaccination injection - is not as effective).

It rely on injection vaccination to boost immunity anti-body to "block infection" - and when the anti-bodies decline over the months - covid will still infect.

Hence, covid vaccine injection - need yearly booster.

2. But if nasal spray solution is effective - it block the source of covid infection - that is through the nose and throat.

If covid cannot infect human by the nose and throat, it will stop and terminate covid ability to survive as it need to infect host enmass to survive.

If not able to do so, covid like SARs will be eradicated. 

(In theory).

3. As more than 90% of the population have 3 jabs - that means our B-cell and T-cell have learned about covid - to be able to fight covid if infected - albeit not as strong as if we keep getting booster - hence body defense system is already reinforce - but not as good if compare to one that get the booster.

4. Now as we wait "long long" for nasal spray solution or equivalent solutions (could be non-nasal) to emerge --- my improvised solutions is to rely on "face mask" which have been effective to date.

[2:59 pm, 10/10/2022] +Smiley face: MOH will do PCR test on walk-in patient, to any clinic, who has sore throat, running nose or cough symptom.

The PCR test is to determine whether is COVID or influenza or common cold bugs or others.

A VERY GOOD early Care and effort by MOH, appreciated! Kudos!

[3:01 pm, 10/10/2022] +Smiley face: FREE PCR TEST....no worry!

Well done, MOH!

[3:01 pm, 10/10/2022] +RH: Pfizer version of bivalent ... Not announced yet .

[3:02 pm, 10/10/2022] +SL: polyclinic you means for the PCR?

[3:04 pm, 10/10/2022] +SL: https://www.cbc.ca/amp/1.6609699

Approved 2 days ago by Canada govt

[3:23 pm, 10/10/2022] +Smiley face: Hi SL

Including Private GP clinics.

It is VERY helpful in EARLY medical diagnostics and if necessary speedy interventions to NIMBLE Covid or Influenza or BOTH together aka 'Flunona'.

Thank you SL for raising it to better inform all of us.

[3:25 pm, 10/10/2022] +SL: Cool, PRC, last round they swab me with ART only. We help each other in align to the latest for effective discussion. 👍👏

[3:25 pm, 10/10/2022] +SL: Thank you

[3:27 pm, 10/10/2022] +RH: Then it's just a matter of time for us to get it over here.

Tks!

[3:29 pm, 10/10/2022] +Smiley face: ART at times may not pick up covid and especially influenza bug... 

Therefore, no worry, don't be anxious or be fearful, this PCR test (FOC paid for by MOH) is VERY GOOD in determining the status of one's health. Within 24hrs, results will be out and the clinic or doctor will brief the patient.

Kudos again to MOH for this NECESSARY AND SMART thinking!

[3:31 pm, 10/10/2022] +Smiley face: You got it, SL!

Let's be CALM and Brave, walk this path towards the end(emic)! No worry (没事)!

Thanks!

[3:32 pm, 10/10/2022] +Smiley face: More than 3/4 PCR tests are common cold!

[4:55 pm, 10/10/2022] +Smiley face: https://youtu.be/iCG5Jh8P-Bw

[5:02 pm, 10/10/2022] +Smiley face: https://youtu.be/TRUJn5TYXZQ

[6:06 pm, 10/10/2022] +REACH: 📢 Topic 📢 

The Ministry of Health (MOH) announced on Friday that vaccination -differentiated measures (VDS) will no longer be required for events with more than 500 participants, nightlife establishments where there is dancing and dining at food and beverage establishments, including hawker centres.

Health Minister Ong Ye Kung said: "This means that vaccination has become our primary defence against the virus. While the situation remains stable now, new and more dangerous variants may surface in the northern winter. We need to get ourselves properly vaccinated in anticipation of that scenario. Do so early, rather than try our luck and not strengthen our protection when we have the time and space to."

💬 What are your views on the latest announcements by…

[6:46 pm, 10/10/2022] +REACH: Dear 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

[7:00 pm, 10/10/2022] +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 😊

====

REACH 401 - What are your thoughts on Singapore’s public housing affordability? Do you think the latest measures and forms of support are sufficient to ensure affordable public housing for the masses?

(SK)

05 Oct 2022 (10am - 7pm)

REACH

[9:47 am, 05/10/2022] +REACH: Dear Contributors,

Welcome back! 😊

⏰ We will be opening the chat from 10am to 7pm today. ⏰

House Rules (short version of our Terms of Use) to keep in mind: 

1. Be kind and respectful. We all want to be in a safe space to share our views. 

2. Any and all threatening, abusive, vulgar or racially, religiously and ethnically objectionable content is prohibited.

3. Consider the quiet ones among us and give them a chance to comment.

4. No need to repeat your comment or in different forms (including caps) - we heard you loud and clear the first time.

5. Let’s protect each other’s privacy and keep contact details in this group what it should always be - confidential. 

Full set of Terms of Use: https://go.gov.sg/reach-whatsapp-terms

We will strive to uphold these rules to ensure this is a safe space for all.

Please be assured that the points made by participants during the chat are aggregated and shared with relevant agencies.

The topic will be posted shortly.

Thank you

Megan 😊

[10:00 am, 05/10/2022] +REACH: 📢 Topic 📢

Minister Desmond Lee, in Parliament on Oct 4, said that the Government will intervene and do what is "necessary" to ensure affordable public housing for Singaporeans as well as a stable property market. He added that keeping public housing accessible is a "key national priority" and provides the basic foundation to raise families, bring up children and build strong communities.

He elaborated on the rationale for the latest slew of measures announced on Sept 30 to moderate demand in the HDB resale market. He said these were meant to ensure HDB flats remain affordable and to encourage prudent borrowing amid the rising interest rate environment.

💬 What are your thoughts on Singapore’s public housing affordability? Do you think the latest measures and forms of support are sufficient to ensure affordable public housing for the masses?

One of the measures introduced was a wait-out period of 15 months before private property owners are allowed to purchase a non-subsidised HDB resale flat. Mr Lee said this measure aims to moderate demand and slow the momentum of price increases in the HDB resale market, by deferring demand from private property owners, so that HDB resale flats will continue to be an affordable option for first-time HDB flat buyers.

Some measures and forms of support for affordable public housing include:

📌 Homebuyers with different housing needs and budgets can service their loans. Thus the home price to income ratio in Singapore is still lower than in other cities like Hong Kong. 

📌 When pricing new flats, HDB first establishes their market value by considering the prices of comparable resale flats nearby, the individual attributes of the flats and prevailing market conditions. To derive the selling prices, HDB applies a significant subsidy to the assessed market values to ensure new flats are affordable to first-time buyers.

📌The Government provides significant housing grants for the purchase of resale flats of up to $160,000 for eligible first-time buyers, and receive Enhanced CPF Housing Grants (EHG) of up to $80,000, with more help for lower-income buyers. 

📌 The mortgage servicing ratio has generally remained below 25 per cent for most new and resale first-timer flat buyers taking an HDB loan. Thus most first-timer buyers can service their housing loans using their monthly CPF contributions, with little or no cash outlay.

📌 Introduction of property cooling measures on 30 Sep: tightening the maximum amount that can be taken for flat loans, setting higher interest floor rates and introducing a wait-out period of fifteen months for private homeowners buying resale flats.

👉🏼 https://www.straitstimes.com/singapore/politics/singapore-committed-to-affordable-public-housing-will-intervene-as-needed-desmond-lee

👉🏼 https://www.straitstimes.com/singapore/politics/hdb-incurred-270m-loss-for-ang-mo-kio-bto-project-desmond-lee

👉🏼 https://www.straitstimes.com/singapore/housing/15-month-wait-out-period-to-moderate-hdb-resale-flat-demand-ensure-affordability-desmond-lee

👉🏼 https://www.straitstimes.com/business/property/stricter-borrowing-criteria-for-property-buyers-15-month-wait-for-private-property-owners-moving-to-hdb-flats

👉🏼 https://www.straitstimes.com/singapore/housing/hdb-resale-prices-rise-24-in-q3-may-dip-in-coming-months-after-cooling-measures

----

[10:22 am, 05/10/2022] +Uncle Law: Similar topic we discussed before?

[10:23 am, 05/10/2022] +Uncle Law: The 15mth wait out period is just a temporary stop gap measure

[10:26 am, 05/10/2022] +Uncle Law: Those who need a roof will still needs a roof

[10:26 am, 05/10/2022] +Uncle Law: Could be because of the pandemic which causes the delay delivery of BTOs

[10:27 am, 05/10/2022] +Uncle Law: Hence those can't wait had to seek from resale market

[10:27 am, 05/10/2022] +Uncle Law: Which causes the pent up demand

[10:27 am, 05/10/2022] +Uncle Law: Demand n Supply

[10:28 am, 05/10/2022] +Uncle Law: Owners took this opportunity to flip for higher returns

[10:38 am, 05/10/2022] +Ken Loh: Err you buy high you sell high 😅

[10:38 am, 05/10/2022] +Ken Loh: Unless you downgrade to smaller size

[10:39 am, 05/10/2022] +Ken Loh: The interest from HDB then you can technically earn from it

[10:40 am, 05/10/2022] +Ken Loh: Private using bank loan so when interest goes up.. they can’t service the loan will have to force to sell

[11:02 am, 05/10/2022] +Smiley face: 5 October, 2022

To: Our Distinguished Leaders and All Honorable Members & Stakeholders

"How to make ends meet?"

"Set the 'sky-high' or the high becomes higher?"

- - annoymous

Ceilings:

Set a price for each type of new flat and these prices shall be reviewed every 5 years with a maximum price adjustments of 5% or less.

Example for near city flats, the starting price from $300,000 to $1,000,000. For matured or non matured estates, prices vary according to location with a maximum price ceiling of $800,000.

During the first 10 years of occupancy regardless of new or used flats, only 1 bedroom can be leased out.

A fixed interest rates for the first 5 years of a new flat. For used flat, it will be based on prevailing interest rates.

Are the above doabl…

[11:03 am, 05/10/2022] +Suma pamu: 1. Govt 15 months waiting period is will not going to hurt Rich.

It only hurts the people who really need money for some other reasons and wants to downgrade.

The rich will easily move to Resale Suburb Condos instead of Million dollar HDB flats

2. Very few buyers who are down garders actually casuing Bubble in market.

Just stopping this group will not solve the problem.

The major Group are Newly Minted Rich Citziens and PRs.

Who are seggregating in New estates.

3. When Resale prices are bench mark for BTOs 

Soon we will see 400k 3rms even in Non mature Estates.

Instead of stopping this group of buyers, focusing on the lessthan 1% of million dollar flats is will rather. Gives more problems than solving it.

4. Reducing LTV 85 TO 80% is big draeback for Youngsters who don't have enough Cpf or cash, and it's deffinatly not the right move at all.

5.increasing floor rate for Loan calculations is good move in this Uncertain market segments.

This is the only good thing i can say.

6. When The Citizens suffering with lack of supply of Housing allowing PRs doesn't make sense.

As if they are being penalised by Buying Condos before, being penalised as what ever they bought before now or later Govt can track and prohibit them buying HDBs. Where as the rest of the HDB buyers (PR families) what they own, how much their Properties worth etc, they are at advantage as govt no way will know about that.

7. Rentals will go up, and this might leads to more high prices, as investors will get more rental yield (For condos) .

And when resale Condo price goes higher and higher, the abv AVG group who wants buy resale Condos earlier might end up to look at Hdb market, and Hdb market will go higher.

8. Not sure how much ground work Hdb n URA did before coming up with this unwise Measures, which only will impact slightly and prices might go even further.

The increase in Floor rates is good move, they shouldn't have introduced other things at all!

How to tackle The bubble in Property markets

1. For now stop PRs buying RESALE HDBs

2. Increase Buyer stampduties for Condos.

(Not only ABSD, but Over rall stampduty)

3. Increase ABSD/ Stampduty especially if one single family  having multiple properties.

Foreigners who buys more than one million make them pay more stamp fee

 4. Limit the usage of CPF for Private properties (scrap Rule of limited Cpf usage for Older properties, this creating a bubble in Market, as every one wants to buy Less than 10yrs hdbs(u can see bubble happend only in Just MOP, Or less than 10yr old properties)

Make the buyer pay more Stampfee When they buy This New MOP flats, so they will have less money to pay COVs, so the prices will be controlled.

5.for PRs who already bought Hdbs, Make them Sell only to HDBs 

So this group of buyers should know that HDBs are not for investment.

Penalising Citizens will not be good idea, as mentioned by Mr. LKY. Citizens should have flexibility to sell and make bit money out of it when they come to retirement age 

The PR group they won't retire here and they will have houses back home. So  PR Hdbs must and only can sell to HDB. 

6. Penalise people who owns multiple properties, not the one who will have only one like if a person has A 2 room condo now and once he sell and buys HDBs penalising him is the biggest Mistake, as it is still his only one property, where this group will go, if they already sold? Example if he got 100k profit, rental now Is more than 3k for 3rm HDB, he will end up camping or being homeless!

I sincerely wish Govt will recall this 15 month Waiting period

Instead will introuduce the other measures which i have stated above.

[11:07 am, 05/10/2022] +Smiley face: Hi Good Morning,

Perhaps this 15 mth cooling period can be best expressed as managing the"supply & demand" or smoothing out the 'process of queueing'?

Hope it makes abit of rational sense? Thank you.

[11:08 am, 05/10/2022] +Suma pamu: As i said Above 

If supply and demand.they should stop PRs buying HDB

First before they penalise Citizens!

So it does not make any sense to me

[11:10 am, 05/10/2022] +Suma pamu: If they have stopped PRs buying hdbs then at least i would think 

Yes they did for supply and Demand Point of view!

[11:13 am, 05/10/2022] +Smiley face: Ok, got your points.

Permanent Residents should either buy Private properties from EC onwards or rent anyplaces from HDB?

Is that one way in looking and solving these Crunching times and High prices of properties from Public to Private ones?

[11:14 am, 05/10/2022] +Ken Loh: The point of PR is in hope that they settle here

[11:14 am, 05/10/2022] +Ken Loh: To improve on our fertility issue…

[11:14 am, 05/10/2022] +Ken Loh: Cannot buy won’t have kids less likely to settle here

[11:16 am, 05/10/2022] +Ken Loh: PR nowadays is so much harder to get… only decent citizen gets to apply and approve. Gone were the days of just apply and get it

[11:16 am, 05/10/2022] +Smiley face: Hi Ken, Good Morning!

Attracting people to settle in and patching the birth rates. Another valid view too.

[11:17 am, 05/10/2022] +Suma pamu: Yes I know very well

[11:17 am, 05/10/2022] +Rama: Having MBA/PHD is still not enough!

[11:17 am, 05/10/2022] +Suma pamu: If then reducing 85 to 80% LTV is super bad idea!

[11:17 am, 05/10/2022] +Smiley face: True!

Quality immigrants, Singapore space is finite. Only those whom are valued and able to contribute will have priority over the next and so on...

[11:18 am, 05/10/2022] +Ken Loh: Lol phd if not within their want list sorry won’t get also

[11:19 am, 05/10/2022] +Suma pamu: Attarcting😀

There are sooo many people applying For PRs

So the demand is very good out there, so no need to worry if any one will settle here or not.

The Super good Foreign talents like Tech pass etc Govt talking 

They neither wont live In HDBs nor Mingle with citizens

So no need to care about this group

Where they will go 

If stop them buying HDBs

[11:19 am, 05/10/2022] +Rama: Current and past incentives/subsidies still not pro family enough to procreate.  So, PM knows having sufficient homes still not equate to increase birth rate!

[11:19 am, 05/10/2022] +Smiley face: What if 80% not effective and maybe adjusting towards 70%?

[11:20 am, 05/10/2022] +Smiley face: True!

Our birth rate is 1.2 or lesser.

So where, when and how to patch it up to 1.8? Ideally is 2.1!

[11:20 am, 05/10/2022] +Suma pamu: I guess locals wont dare to marry,

If marry also they wont dare to Start families

Money no enough

For downpayment installments

Kids Tuitions etc tec

[11:21 am, 05/10/2022] +Rama: Policy is still blind!

[11:21 am, 05/10/2022] +Uncle Law: It will only cause demands in private resale, causing price to rise. Those can't afford Citizens will come back to HDB resale

[11:22 am, 05/10/2022] +Smiley face: True!

One demographic changes that is deferment of marriage.

One more is the idea of FREEDOM, no need to worry about the future, by staying Single makes sense to many of our young ones!

[11:23 am, 05/10/2022] +Rama: Agree

[11:23 am, 05/10/2022] +Suma pamu: From past few months (i guess 6 months ) 

I have been telling here multiple times

IN HDB resale MARKET

FORMING BUBBLE

a clear bubble

Price sif Just MOP is ridiculosly higher

Where as old ones like abv 20, 30, 40 yeare hardly any buyers (except the Very rare kind of HDB, so plz dont mix up)

[11:27 am, 05/10/2022] +Smiley face: So the throphies of choice are flats under 15 years or younger? Almost like 80% of resales are these lots, whether to up or down size?

Correct to assume? Thanks

Then comes the price bubbles....

[11:28 am, 05/10/2022] +Suma pamu: I only cn say 

URA and hdb didnt really do Complete ground work

What we seeing in Newspapers like Millior dollor 4rm etc etc

They quickly want to address this segment.

Instead of finding root cause of this!

So move they have taken with out Actually thinking!

Now HDB would have flooded with Appeals by people.alrdy sold their Condos, thinking of Buying HDBs!!

Lets see 

How much prices will reduce next month

[11:33 am, 05/10/2022] +Suma pamu: I am not saying Resale trancsations!

I m saying those transacted above Valuations 

And Causing bubble are Mostly 

Less than 10yrs old flats

So bubble is in this segment

Rest all are transacting normal or low Val 

If asking high

And some areas Old flats even 20yrs very hard to sell at Valuation as well!

So bubble causing by NEWLY MOP /less than 10yrs old flats

U can check 

How much 3rm Newly mop Flat in areas like Yishun punggol

Vs 20 yrs old 4rm flat!!

If got time plz do go through 

U will.understand what i am saying

[11:33 am, 05/10/2022] +Smiley face: There are also people sold their private or public properties as early as 8 years back.

Where they staying? They either RENTING condor or HDB in HOPE properties prices will soften.

Are these people displaced or sooner to be displaced due to higher prices?

Isnt it a Choice and view of tangibles of Micro and Macro economics ?

[11:35 am, 05/10/2022] +Ken Loh: We need from all levels not just top… if not then no point have HDB. The HDB is meant as a place for different class to mingle together. Hence the range of income so wide

[11:35 am, 05/10/2022] +Smiley face: There is truth...

For leasehold properties, the shorter the remaining lease, the less attractive it will become. 

It's about value and valuation.

[11:36 am, 05/10/2022] +Ken Loh: In most countries government housing are for the poor and the worst. In rare case like Singapore even the rich wants to stay in HDB

[11:36 am, 05/10/2022] +Ken Loh: Hence the property is worth something… if no one wants it. We won’t have such issue.

[11:37 am, 05/10/2022] +Ken Loh: Now we are complaining cause we cannot buy… but majority that holds it has no issue. 

Cause the value grows your retirement is secured

[11:38 am, 05/10/2022] +Ken Loh: I would say with government grants most HDB are affordable just have to wait

[11:38 am, 05/10/2022] +Smiley face: Valua-able.

[11:38 am, 05/10/2022] +Smiley face: Bingo...

[11:38 am, 05/10/2022] +Smiley face: Bingos...

[11:38 am, 05/10/2022] +Ken Loh: Push out all the buyers so we can afford then who buy when we want to sell 🫣

[11:40 am, 05/10/2022] +Smiley face: G has the big data the analytics and scenarios play!

Today chat is to seek any good ideas and how's citizens feeling...

[11:41 am, 05/10/2022] +Ken Loh: Supply demand are in government hands… which is a good thing. They can manipulate the market as they see fit for Singapore maximum gain.

[11:41 am, 05/10/2022] +Ken Loh: Like US manipulate the currency.. 🤭

[11:42 am, 05/10/2022] +Smiley face: " some places, when you got Money, you gets plenty of honey; some places when you got Money, you also gets whole lots of dirty...?"

- - annoymous

[11:44 am, 05/10/2022] +Smiley face: More demand from S'poreans for co-living spaces as high property prices boost rental market

https://www.straitstimes.com/singapore/housing/higher-demand-from-sporeans-for-co-living-spaces-as-rental-market-gets-boost-amid-high-property-prices

A shift in mindset in the local population towards renting compared with buying, and the time it takes for the young to attain home ownership due to increasing property prices, are some factors... that have propelled the increase," she said.

Those aged 29 to 34 yearn to have their own space away from their family home, and more young couples turn to co-living spaces before buying a flat

[11:47 am, 05/10/2022] +KL: So now is birthrate

[11:47 am, 05/10/2022] +KL: Good let me say this if i not wrong SG produce at least 1/6 of EM3 ppl

[11:47 am, 05/10/2022] +KL: during 1990s to 2002

[11:47 am, 05/10/2022] +KL: these ppl will only enter work force ard 27

[11:48 am, 05/10/2022] +KL: Then open door polciy in palce of couse cant find partner mah

[11:48 am, 05/10/2022] +KL: no good salary no good job 27 then finsihed uni

[11:48 am, 05/10/2022] +KL: If no open door policy then maybe still have a chance

[11:49 am, 05/10/2022] +KL: so arnt this a evilcycle ?

[11:49 am, 05/10/2022] +KL: of course you in turn produce more singles

[11:49 am, 05/10/2022] +Smiley face: Fact:

Early 1990,

AMK 5 rooms was $300k (leasehold)

Newton Apartment was $600k ( freehold)

What's today value for both properties?

[11:50 am, 05/10/2022] +KL: so populaion drop u need more FT than of course cycel renew

[11:50 am, 05/10/2022] +KL: the only one benefit is the rich and FT.

[11:50 am, 05/10/2022] +KL: cheaper labour

[11:53 am, 05/10/2022] +Smiley face: Hi KL,

In previous months, presented facts on declining birth rates'for developed countries.

Fact, Philippines is also facing declining birth rates (not ratio). 

It was 6 birth per family, now 2 per family.

So how, importantly for SINGAPORE to secures our Nation's interest?

[11:54 am, 05/10/2022] +Suma pamu: Yes 

But how many Top level expats staying in hdbs😀

Anyway as i said 

I care less abiut the rich and Ultra rich

I hv no time to plead them to buy this or do this

[11:54 am, 05/10/2022] +Smiley face: "For the lifespan of human is like a leasehold property...?"

- - annoymous

[11:55 am, 05/10/2022] +Smiley face: "得青年人,得天下!

Youth is the deciders of tomorrow!"

- - annoymous

[11:56 am, 05/10/2022] +Suma pamu: Truth we all.know

I dont go into discussion about who actually own Hdb or what happens after 99

As When we buy we should know alrdy.

But stopping CPF usage (not fully ofcourse)

For HdbS just becz of old 

I told that time itself

It will create more problems than solving 😀

[11:57 am, 05/10/2022] +KL: but why we have decline birthrate but need so many HDB ? Did any one think of that ?

[11:57 am, 05/10/2022] +KL: Our replacement is 1.2 as per some one say

[11:59 am, 05/10/2022] +Suma pamu: Then Plublish better ma

Helpful for agents like me also😀

Publish like

Age of property

Price Trends

Demand trends

Buyers 

Who are they

What race nationality n PR new citizen etc etc

In detailed

Not like Punggl ..ocr..incresed this much 

Tpy decreased this much

No use one

[0:02 pm, 05/10/2022] +Smiley face: Hi KL, Good Morning.

1.8 will be Great

[0:04 pm, 05/10/2022] +KL: 1.2 is due to bad policy in last 2 decades

[0:05 pm, 05/10/2022] +KL: but i think next to be hit will Mindef . cos it result in lower SG male produce.  Where PR relucted to serve NS. That where the real issue lies in future

[0:06 pm, 05/10/2022] +KL: plus singles may not bear arms.

[0:06 pm, 05/10/2022] +KL: when country in need

[0:07 pm, 05/10/2022] +KL: that why i alwasy say fairness and optimal is the key

[0:11 pm, 05/10/2022] +SL: This may result in the unit being sold below its total cost

[0:12 pm, 05/10/2022] +Ken Loh: Speculation… so they have to pay the price

[0:13 pm, 05/10/2022] +KL: worse is developer collaspe

[0:13 pm, 05/10/2022] +KL: then all project will GG. Not sure what will happen after that

[0:17 pm, 05/10/2022] +SL: Nominal rise of assets value due to price inflation required large enough buyer markets.  The initial buyer turned seller anticipated others to be the last straw that broke the camel’s back.

[0:17 pm, 05/10/2022] +Ken Loh: 🤦🏻‍♂️ just observed nothing much we can do. Government have to decide what to keep to maintain the system

[0:18 pm, 05/10/2022] +Smiley face: Wait....

[0:18 pm, 05/10/2022] +KL: Using taxpayer money to save not fair wor

[0:19 pm, 05/10/2022] +KL: alot of stuff is not fair :D

[0:19 pm, 05/10/2022] +L or BL: Housing problem is slightly fuelled by delays to construction to pandemic.

[0:19 pm, 05/10/2022] +Ken Loh: Better than collapse everyone no job or money to survive… only they know is it worth it

[0:20 pm, 05/10/2022] +Smiley face: 1 October, 2022

 "Opportunities & Benefits?"

https://www.forbes.com/sites/jaydecheung/2022/09/29/billionaire-li-ka-shings-ck-asset-sells-hong-kong-properties-to-singapore-fund-for-265-billion/

Analysis & Commentary:

"CASH OR CASH FLOW IS KING! In an highly active inflationary period, Yield of fixed assets such as properties will be the 'safest haven' (short term to mid-term play) compared to more liquidable assets like cash or equities or bonds. 

These three LIQUIDIZING variables would be the subject of the full blowing winds of devaluation and first to damage in this perfectly structured and interconnected economics storm, aka as Quantitative Tightenings (QT)!"

- - annoymous

Situations and the Dynamics of Migration of People & Money:

In last year (2021), one of these apartments was sold for HK$459 (HK$136k/ft).

What if today or tomorrow HK's property prices further slumped 20%? This example per sqft similarly discount to HK$108k/ft!.

What causes such drop in property prices?

Simply, for the past 12 months, more than two hundred thousands hongkongers have migrated elsewhere, to UK, to Canada, to USA, to Australia, to Thailand, to Malaysia and to Singapore!

So what's the next impacts to these migrant countries?

Currencies will strengthen so do all economic activities will also benefit from these NEW HOT MONIES!

So what's the future property prices for Singapore likely be?

If HK prices do slide which is highly probable to happen, perhaps Singapore current property prices are at MID-WAY point of an upward trajectory!

What's the outlooks like?

The raw prospective PSF for Prime residential areas will PEAK at S$8k/ft  within the next 24 months (HK will be at S$20k or lesser). How about Malaysia or Thailand, these two Asian countries?

Afterword:

"When a family of high income or net worth migrates to a new country, first, they will buy their First home(s). Second, they will scan and evaluate for business opportunities or to replicate their core competencies into this new living environment aka new country of residency. Third, they will come out to participate in the economics of livelihoods or start a new business through acquisitions of local firms and fixed assets!

The key is NEW BUSINESS creations, you need physical presence and land to set the footings! The rest will be history in the making!

[0:20 pm, 05/10/2022] +KL: not fair to poor ppl :D

[0:20 pm, 05/10/2022] +Ken Loh: It is a eco system. Not this or that.. but all depends on each other

[0:20 pm, 05/10/2022] +Ken Loh: If all become poor to climb back up even harder

[0:21 pm, 05/10/2022] +Suma pamu: Setting a price based on income Will gives more Good Results

Than setting peak prices.

As those can afford will benefit easily can pay the price 

Again in the end those can not will not be able to!

[0:21 pm, 05/10/2022] +KL: you should tell that to the poor :D

[0:21 pm, 05/10/2022] +Ken Loh: You know which country want equality and the whole country suffer… 

In the end lol… is it equal?

[0:21 pm, 05/10/2022] +Ken Loh: The great leap 🫣

[0:21 pm, 05/10/2022] +Ken Loh: So is it equal now?

[0:22 pm, 05/10/2022] +KL: like i say optilmal is key

[0:22 pm, 05/10/2022] +L or BL: Often people point to 'outsiders' as the cause of problems for internal difficulties. Housing, Transports, Education and Health Care. We should not go down this route and create division in society. All contribute to the growth and economic welfare of the country. People who want to settle need a path, and PR is a good first step, let's not be unwelcoming.

[0:23 pm, 05/10/2022] +L or BL: Of course current citizens need to be protected and already have additional benefits and smoother path. That's good and important.

[0:23 pm, 05/10/2022] +L or BL: Housing shouldn't be treated like a commodity and rental prices should be managed.

[0:23 pm, 05/10/2022] +Suma pamu: Yes agree

But not the cost of losing own citizens!

[0:24 pm, 05/10/2022] +L or BL: Yes, 100%.

[0:24 pm, 05/10/2022] +Suma pamu: 😀how to manage rentals

Its demand Vs supply

[0:25 pm, 05/10/2022] +KL: Frankly rental should not be control as we import far too many FT

[0:25 pm, 05/10/2022] +Suma pamu: If the current 15 month waiting period is temporary move

They should hv done the same to PRs.

Stop them.buying for now

Not saying for ever 

Untill stabilization happens

N make them sell back to HDB only

[0:28 pm, 05/10/2022] +L or BL: Shouldn't be like that because people are being forced out of their homes. We regulate other industries, why not rental?

[0:29 pm, 05/10/2022] +L or BL: Yes, sell back to HDB makes sense

[0:29 pm, 05/10/2022] +Suma pamu: 😀 I guess before that Govt Should stop racial  seggregatioms in private properties

[0:29 pm, 05/10/2022] +L or BL: 15 month for PR also makes sense, should be same rules for everyone.

[0:30 pm, 05/10/2022] +Suma pamu: No need To as Its income generated and spend in singapore

Those owners getting supet high rentals

Make them.pay more property tax

[0:30 pm, 05/10/2022] +Suma pamu: 😀it is same for everyone

PRs need to wait 3 yre before they buy HDB

[0:31 pm, 05/10/2022] +Suma pamu: I Am saying now We are seeing low supply 

High prices 

So need to stop.them buying for now

As Stopping A citizen who owns a condos n sold a condo

[0:31 pm, 05/10/2022] +L or BL: Yes, that's an option. Something to avoid exploitation. People have to live somewhere. We don't want to uproot families because Landlords want to lock people in for 2 year contract when the market spikes.

[0:32 pm, 05/10/2022] +L or BL: got it ok - what was the reference to this: "If the current 15 month waiting period is temporary move

They should hv done the same to PRs."

[0:32 pm, 05/10/2022] +Suma pamu: Now It happens i feel

Happens for Citizens

If expats unable to pay high rentals and unable to afford 

They move back!

[0:33 pm, 05/10/2022] +Suma pamu: I am saying 

Stop PRs buying HDB 

Even though They are  in3 yrs category

[0:33 pm, 05/10/2022] +KL: btw why all issue seem to link back to PR and FT ? So weird.

[0:33 pm, 05/10/2022] +Suma pamu: Meaning for now ban PRs buying resale hdb

Ban them.selling in Open market

Simple and will be more effective

For controlling prices

[0:34 pm, 05/10/2022] +Suma pamu: Not all 

Just This New measure😀

[0:35 pm, 05/10/2022] +Suma pamu: PRs pay more School.fee now

Many thing Govt changed for PRs compare to last time, 

Still many people applying PRs

So when comes to housing

Focus on citizens 

Especially low and middle income families👍🏽

Thatd my conclusion

[0:35 pm, 05/10/2022] +Ken Loh: Err this was set from day one to ensure racial harmony 😥

[0:35 pm, 05/10/2022] +Ken Loh: So no one race only block

[0:35 pm, 05/10/2022] +L or BL: I do see the logic on PR having to sell back to HDB.

[0:35 pm, 05/10/2022] +Suma pamu: No

For.private no such Thing even now

Any one can buy any where in private

[0:36 pm, 05/10/2022] +Ken Loh: Private you can buy where you like..

[0:36 pm, 05/10/2022] +L or BL: Yes, and makes sense, avoids SG becoming segregated into different regions. Private is only 20% of all housing, correct?

[0:36 pm, 05/10/2022] +Ken Loh: Err Singaporean is more than 90% in HDB

[0:37 pm, 05/10/2022] +L or BL: OK, so no need to control private housing really.

[0:37 pm, 05/10/2022] +Suma pamu: Seems u might hv missed my main point

When Govt unable to Check whether PR having any property overseas (by rule if they have they can not buy hdb here)

So no point Giving advantage to them 

Especially 

In this Low supply time

[0:37 pm, 05/10/2022] +Ken Loh: This is practice in some countries… can explore

[0:38 pm, 05/10/2022] +Suma pamu: Yes

[0:38 pm, 05/10/2022] +Ken Loh: If singaporean are main buyer and seller… the price majority is push up by locals then foreigners 😅

[0:38 pm, 05/10/2022] +Suma pamu: But Having only one race like 90% of one race one natiomality in private condos

Soon will create problems

[0:38 pm, 05/10/2022] +Ken Loh: Small percentage of PR don’t really able to push up so much

[0:38 pm, 05/10/2022] +Smiley face: Ecosystem of Public Housings:

So how to equalise and make Singaporeans happier, these sensitive housing issues?

Subsidies from $100k to $250k across new or resale flats. From matured, non matured and near city flats, all will enjoy these spectrum of  subsidies.

Are these enough or more the better? Is it doable, any unintended outcomes?

[0:38 pm, 05/10/2022] +Ken Loh: Just being realistic… why they can push so high… cause they earn decent and willing to buy at premium to get location they want

[0:39 pm, 05/10/2022] +L or BL: Can check, assuming they have a mortgage on the overseas property. They have to declare to the bank, or committing fraud, and banks can check easily.

[0:39 pm, 05/10/2022] +Suma pamu: They can 

If They only buying JUST MOP flats

Thats why i suggest govt to release data😀

[0:39 pm, 05/10/2022] +Ken Loh: I doubt so really

[0:39 pm, 05/10/2022] +Suma pamu: Yes

[0:39 pm, 05/10/2022] +L or BL: Or maybe have a longer MOP for PR?

[0:40 pm, 05/10/2022] +Ken Loh: But selling back to HDB was options for other race which unable to hit target price due to the race restrictions

[0:40 pm, 05/10/2022] +Ken Loh: Or sometimes the HDB too old to sell more than 40 years old

[0:40 pm, 05/10/2022] +Suma pamu: I have not read any news before the HDB caught PR false declaration

So i doubt they check

And bank checkswhats the use

Its the HDB need to 😀

[0:40 pm, 05/10/2022] +Ken Loh: MOP is good for stabilising the market

[0:40 pm, 05/10/2022] +Suma pamu: Will not solve problem

[0:40 pm, 05/10/2022] +Ken Loh: I really think should keep

[0:41 pm, 05/10/2022] +Ken Loh: Atleast some time for government to react

[0:41 pm, 05/10/2022] +Suma pamu: Focus is solving the problem

No lt creating the problem to PRs or FTs

I guess govt also dont want that

[0:41 pm, 05/10/2022] +Suma pamu: Increasing MOP will in the end makes even low supply

[0:42 pm, 05/10/2022] +Ken Loh: They already have changes that effect immediately so that prevent people from playing the market.. which is quite painful for some that are considering in between policies 😓

[0:42 pm, 05/10/2022] +Smiley face: How to solve, supply and demand?

[0:42 pm, 05/10/2022] +Suma pamu: So like i said 

Increase hefty stamp fee

For Less than 10yr old flats

This group 

Will hv less money to pay COVs for these flats

Prices will control

[0:42 pm, 05/10/2022] +Ken Loh: They can adjust based on the needs..

[0:42 pm, 05/10/2022] +Suma pamu: This is the best 

After i think so much

Its a win win situatiom

[0:43 pm, 05/10/2022] +Smiley face: Good idea, stamp fees...

[0:43 pm, 05/10/2022] +Suma pamu: Yes

[0:44 pm, 05/10/2022] +Smiley face: Seniors waived the stamp fees?

[0:44 pm, 05/10/2022] +Suma pamu: That way 

Those who can afford amd want new flats they buy those paying extra

The old flats Now so many 

So will increase demand

[0:44 pm, 05/10/2022] +Suma pamu: Nope

[0:45 pm, 05/10/2022] +Smiley face: Down size?

[0:45 pm, 05/10/2022] +Suma pamu: No need to 

Unless buy 2rm or studio

Frm HDBs

[0:45 pm, 05/10/2022] +SL: If reading the real estate market news outside in America, the UK, Taiwan, China, etc., precautionary steps taken by govt reduce some risk

[0:45 pm, 05/10/2022] +Suma pamu: Downsize why need to pay less if tjey got money

Can.not be based on that

[0:48 pm, 05/10/2022] +Smiley face: Using tax to solve...

[0:48 pm, 05/10/2022] +Suma pamu: This is the best i can think to Stop bubble formartion 

Now or even later

Limiting buyers 

So Prices will stabilise

[0:49 pm, 05/10/2022] +Suma pamu: Yes but penalising only the People who got CASH to pay Covs to sellers

Not like the poor or middle class

They anyway can not compete the rates of this Newly Mop flats

[0:51 pm, 05/10/2022] +Smiley face: How much tax to apply %?

How the effects of ABST? Any lessons learned so far?

[0:53 pm, 05/10/2022] +Suma pamu: How much i can not say

But A 4rm just MOP flats Easily getting 40k plus Cov 

Which is going to Sellers pocket!

[0:53 pm, 05/10/2022] +Suma pamu: I am saying Average some even got 100k cov also

[0:54 pm, 05/10/2022] +KL: Actually the main cause is our normal wage cant afford a HDB now as per they said BTO prices is derive from Resale flats ( i wonder how bukit brown they going to price from Gaveyard ) . Thus mean resale and BTO may no longer afford by locals. In 2010 i remember my manger from Malaysian PR buy a HDB with her slibling and rent out underhand at tiong bahru (( iknow now is banned ) .  Open door policy causing our wage to be abnormal due to influx of FT / workers.

[0:54 pm, 05/10/2022] +Smiley face: Capital gains, capitalism in play or OVERLY played?

[0:54 pm, 05/10/2022] +Suma pamu: Even now PRs who left the country still Renting out, lock one room and rent policy.. many agents still do this🤦🏽‍♀️

[0:55 pm, 05/10/2022] +Smiley face: Per head can be $750

[0:55 pm, 05/10/2022] +KL: Yes

[0:56 pm, 05/10/2022] +KL: they got a green card in USA

[0:57 pm, 05/10/2022] +Suma pamu: No point discuss or discourage Capital gains As u said most HDB owners Are singaporeans

Aim is To Dissolve the Bubble

To make the prices affordable

To Make sure PRs follow rules of HDB strictly and make them understand HDB is not for them to Buy now and Sell at high price 

Make profit and go back!

[0:57 pm, 05/10/2022] +Suma pamu: Yes i know

[0:57 pm, 05/10/2022] +Suma pamu: Now Govt Not renewing PRs if they dont live here anymore

[0:57 pm, 05/10/2022] +KL: they come back once a years

[0:58 pm, 05/10/2022] +Suma pamu: But those who alrdy bought 

Still renting out

Atleast till their PR renewal comes

[0:58 pm, 05/10/2022] +KL: ya a loop hole

[0:58 pm, 05/10/2022] +Suma pamu: Now Not easy anymore

They must work here at least 2 yrs 

To get PR renewed for 5 yrs

[0:58 pm, 05/10/2022] +KL: are u sure

[0:58 pm, 05/10/2022] +SL: 🤣🤣🤣🤣

[0:58 pm, 05/10/2022] +KL: I know of a person got PR working in sg only before cocid

[0:58 pm, 05/10/2022] +KL: she cant even speak english

[0:58 pm, 05/10/2022] +Suma pamu: Yes

[0:59 pm, 05/10/2022] +KL: she can write thou lol

[1:00 pm, 05/10/2022] +KL: she bring in 3 slibling

[1:00 pm, 05/10/2022] +Smiley face: Assuming $100k of COV.

First happiness for taxmen say, 20% stamp fees from this declared COV.

Next comes circumventing, under declaring by half or more than half of C actual COV.

So the seller-buyer agreed to settle at $50k in cash and the other $50k to declare ( tax collected $10k).

Will the above happen or will never happen?

[1:01 pm, 05/10/2022] +Suma pamu: I guess Should not be based on COV

Should target so called new flats

As this is what causong bubble price

[1:01 pm, 05/10/2022] +Smiley face: Hi KL,

Any Chances you know why such things happened?

Anyways to mend it?

Pls share, thanks!

[1:01 pm, 05/10/2022] +Suma pamu: Yes If based on Cov

What u said Might happen

[1:02 pm, 05/10/2022] +Smiley face: MONEY happens to make people turning to do all sorts of monkey business just to avoid being tax!

[1:02 pm, 05/10/2022] +Suma pamu: So just Say 

Extra 5% Stamp fee 

Along with current taxes when buying less than 10 yrs olr HDB

Simple

[1:03 pm, 05/10/2022] +KL: If u go dating events a lot of non local

[1:03 pm, 05/10/2022] +KL: u will heard alot of these

[1:03 pm, 05/10/2022] +Suma pamu: Yeah

[1:03 pm, 05/10/2022] +Smiley face: 5% not strong to cool (push) prices!

[1:03 pm, 05/10/2022] +KL: ask sg sent ppl to infrate in and check .o need me to teach u all right . drawing 1 millions salaries should know these .

[1:04 pm, 05/10/2022] +Rama: Utter madness for government to keep saying public housing will be kept affordable!

[1:04 pm, 05/10/2022] +Smiley face: Take reference from ABST model..

What's the +/- learned and how to apply it to HDB issues?

[1:04 pm, 05/10/2022] +Suma pamu: It will be total 8% for citizens

Total 13% for PRs

[1:04 pm, 05/10/2022] +Smiley face: 10% vs 20%

[1:06 pm, 05/10/2022] +Suma pamu: Yes or better to implement 

Like 20% if its just MOP

Based on flat aging 

Then lower bit by bit

[1:07 pm, 05/10/2022] +Suma pamu: This will deffintaly

Deter people who think HDB Or Bto is Money making Items

Especially in short term

[1:07 pm, 05/10/2022] +Suma pamu: I sincerely hope

Reach will bring this GOVT😇

[1:12 pm, 05/10/2022] +Suma pamu: The same should apply to EC as well

[2:21 pm, 05/10/2022] +RH: Agree ... My sentiments too.

[2:27 pm, 05/10/2022] +RH: Agree.  As ther r not enuff BTO's to go ard, and also the wait may be too long, young couples, esp w limited financial resources, and aspiring to own their first flat, should have an abundance of choice fr the Resale market since the no. of BTO's is limited. Gov shd know since the stats always show >2 or even >10 times over subscribed for BTO appns every time!

[2:29 pm, 05/10/2022] +RH: Abt time for HDB to wake up & pay attn to the citizens.

I feel the addl new  measures are NOT helping citizens, but setting them back even further from owning their first flat.

Similarly, the same gov subsidies shd also apply for first-timers if they buy their first Resale flat , becoz they r driven to do so due to lack of supply of BTO flats, esp in the location / estate of their choice.

[2:32 pm, 05/10/2022] +RH: I notice tt most BTO's r being built in North , West & now near Central.

I live in the East & ther r only 1-2 BTO projects in this area but demand far out strips supply here!

My son has still not bn able to get a flat after trying out for past 2 years.

[2:34 pm, 05/10/2022] +RH: The revision to LTV limit shd NOT apply for first timers.

Esp if they r new on the job market and hv not yet had enuff time to build their finances.

[2:37 pm, 05/10/2022] +KL: Why not now fresh grad earn much more than old bird wor

[2:37 pm, 05/10/2022] +KL: Tiagong is 5K

[2:37 pm, 05/10/2022] +KL: even citi 2014 new ppl got 3.3K but old ppl remain 2.8K

[2:38 pm, 05/10/2022] +KL: dont be greedy la give some hope to poor ppl ba

[2:39 pm, 05/10/2022] +KL: u build finance we need money to eat hahaha and give parents wor

[2:43 pm, 05/10/2022] +KL: like i say it he fairness comparing past to present

[2:43 pm, 05/10/2022] +65 80321288: There should be zero tolerance on drugs, including cannabis. The difference between cigarettes and cannabis is that people smoking cigarettes don't get high and don't hallucinate. They don't go around harming themselves physically or harming others physically. Cannabis smokers get high and hallucinate. That's the difference. Alcohol, to a certain extend, causes drunked behavior which sometimes can also cause harm to oneself and others. This is why alcohol consumption has been restricted in terms of time and place of consumption.

[2:50 pm, 05/10/2022] +RH: The effects of the new measures wl Only Affect those who Need the flats More! 

Not those who alredi hv the means wl not feel the pinch after a while.  It's only a ripple in the ocean for this group of ppl, which the new measures r targetted at.

[2:50 pm, 05/10/2022] +KL: I dont own a flat wor :C

[2:54 pm, 05/10/2022] +RH: In short, Min. Desmond Lee, I think u shd look at the supply & Affordability factors of Resale flats for first timers, esp those who hv bn in the queue for very long but were not able to get the unit of their choice.

Suggest tt 

1. ther be an option of choice for this group to select within the estate tt they want ... Since ther is no BTO avail in tt loc.

2. Also, limit the sale price of the Resale flats to make it affordable for first timers.

3. LTV of 85 cap to remain for first timers.

[2:56 pm, 05/10/2022] +Smiley face: 5 October, 2022

"Enable, Affordable or  Unaffordable"

"+-x/, these variables to make  ends meet?"

- - annoymous

How to enable our young generation?

First Timers:

Heavier subsidies ($) for First time owner whether is new or resale.

Fixed interest rates ($) say @3%. Defer payment meaning up to 12 months before instalment kicks into effect before collection of keys or better still after collection of keys.

Set a lower minimum salary ($) for sole or combined. Also lower the minimum age to 30 years old for singles to own their first homes.

These enablers are limited to 4 bedrooms flat and below, applicable to all areas, new or resale.

What's the equation and model?

Privileges & Entitlements (P&E):

Are there any 'common grounds' regardless of citizen o…

[3:00 pm, 05/10/2022] +KL: So late than change :C

[3:08 pm, 05/10/2022] +L or BL: https://www.who.int/teams/mental-health-and-substance-use/alcohol-drugs-and-addictive-behaviours/drugs-psychoactive/cannabis#:~:text=About%20147%20million%20people%2C%202.5,than%20cocaine%20and%20opiate%20abuse.

[3:08 pm, 05/10/2022] +RH: Agree.

As a temp measure, to create more supply , esp for first timers who were unsuccessful in their BTO appns.

[3:09 pm, 05/10/2022] +L or BL: 147 million people in the world estimated to use Cannabis, 2.5% of the world's population. I'm against it being freely available, same as cigarettes or alcohol. I have read there are health benefits if administered properly by medical experts.

[3:11 pm, 05/10/2022] +L or BL: Yes, this is the irony...

[3:12 pm, 05/10/2022] +RH: Becoz everyone can see the effects of the new measures wl hurt / affect citizens more than the target of these measures....

Def not well thought thru or wrong perspective taken by policy makers.

[3:16 pm, 05/10/2022] +KL: the new measure trying to glue the issue in the past . So the current measure is correct but too late liao.

[3:17 pm, 05/10/2022] +KL: A doctor tell u got fever give u panadol never check and fever continue till u become brain damaged . They forgot pill need 2 hours to start. effect. same as polices

[3:18 pm, 05/10/2022] +KL: optimal is impoartant .

[3:21 pm, 05/10/2022] +Guillermo Cabeza: I don’t think lowering the LTV ratio for first time buyers makes sense and especially if the govt is telling us that most first time buyers can pay for the loans with their CPF contributions. The lower LTV just makes it harder to finance the first flat - does it really cool the market? The problem I see is that there is a supply demand problem and that is one of the reasons prices go higher - plus the covid situation and it’s impact on housing and on project completion/ Solution: build more flats and make it difficult for speculators. Another challenge with affordability is that interest rates may have bottomed out and even though HDB has said they won’t change them for now, over time higher inflation will make rates go up and housing will become less afford…

[3:33 pm, 05/10/2022] ☸️  Danny 心: 

What are your thoughts on Singapore’s public housing affordability?

1. a. For non-mature estates - I think the price around :-

$245,000 to $317,000 (3-room)

$374,000 to $460,000 (4-room)

$493,000 to $581,000 (5-room)

though on the high side - is still affordable -- though barely make it - if both young couples got a job.

Assuming without grant buying a 5 room flat (as my kid need a bigger space to work and raise 2 children), borrow a loan from HDB/CPF at 2.6% for 20 years - the young couple will need to pay $2,483 a month ---- from the HDB/CPF.

So for a 4 person family, assuming $2,000 a person is needed for monthly expenses and some savings ----- a household income of $10,483 per month - then can afford to pay the for the 5 room flat.

For a fresh graduate couple just starting out on a career is a tough call - barely manageable.

b. But for non-mature estate - as far as Tengah, it is very convenient for the young couple to drop their children to their parents like us staying in mature estates, somewhere around central, north east - to take care of the grandchildren and the 2 couples go to work and then take back the children.

It will wear the young couples down.

2. So unless the young couples are able to get a flat near their parents like in central or north east - let us check the price in the mature estate :-

Eg. the recent new BTO flats in Ang Mo Kio is price at :-

4-room flat $535,000 to $676,000

5-room flat $720,000 to $877,000

--- the young couple will need to pay $3,749 a month ---- to the HDB/CPF. loan.

So the household income of young couple need to have $11,749 per month --- which is way beyond the young couple ability to sustain their lives and finance the house.

3. Hence, a price somewhere around the suburban estate - as illustrated in the above example - will still be barely affordable for my kid family.

But the price for the mature estate is not affordable.

[3:35 pm, 05/10/2022] +Smiley face: Hi Danni, thanks for the breakdown of $...

One key enabler (affordability) is CPF contributions that relieve quite substantially the monthly installments.

In short, continuous employment will help many to afford their homes.

[3:36 pm, 05/10/2022] +Rama: Affordable housing has gone out the window long ago!

[3:37 pm, 05/10/2022] +Smiley face: Next is to buy what one's need than what one's want... that's another affordable!

[3:38 pm, 05/10/2022] +Rama: Or take over parents flat and wait for sers/enbloc!

[3:41 pm, 05/10/2022] ☸️  Danny 心: 

If HDB make the mature estate prices equivalent to non-mature estate prices - then I will say the young couples can barely managed to afford it.

I will applaud HDB policy.

[3:45 pm, 05/10/2022] +Smiley face: Hi Andrew, a common Streets sentiment, not totally wrong to say so...

However, if say one young aspiring single or married couple wants a 4 rm or EC. They will have to count their monies and jobs before these wants override the realistic needs.

Hope or hoping to upgrade to an EC or Condor. We assume that it is a COMMON aspiration for many citizens.

So how can we fullfill these good aspiration of upgrading one's living space?

Again this family or individual will have to weigh and balance the current finances and going into the future, isn't it called 'can afford or wait awhile lah'?

The key is opportunities will always be there for people to turn into Reality. In these stations of life, there will be up and down. Importantly, never says never. Have a po…

[3:48 pm, 05/10/2022] +KL: Than I unlucky lor

[3:48 pm, 05/10/2022] +KL: :C

[3:50 pm, 05/10/2022] +Smiley face: Increase subsidies for our young first time owners, one meaningful headstart for them.

"Before us, today and ours tomorrow 后浪推前浪"

[3:51 pm, 05/10/2022] +Rama: Emeritus SM GCT mentioned during his term as PM, young couple simply buy a maisonette or executive flat without doing their homework.  They should be practical and buy a three room flat first and then progressively upgrade over time.

[3:51 pm, 05/10/2022] +Rama: Feeling dire is more like than hope!

[3:52 pm, 05/10/2022] +Smiley face: Thank you, Andrew for your Great memories!

That's where the words "upgraders" derived, isn't it, Andrew? Thank you!

(recalling memories and 2 brains better than one...cheers!)

[3:56 pm, 05/10/2022] +Smiley face: Andrew...

The opposite of dire is HOPE!

IMPORTANT TO HAVE HOPES (aspirations).

By the way, there will always be that naughty disruptor that stir folks up, aka negatives and mind blocking thingies...

[3:57 pm, 05/10/2022] +Rama: Unfortunately,  we have covid-19 to thank for dire!

[4:00 pm, 05/10/2022] +Smiley face: We can also see Covid as a history and lessons for all of us to learn.

So what we learned?

A naughty disruptor (ND)of jobs and lives (or death).

To take this ND and flip it to be another ND, this case is called Non Disruptor!

Can we see it through and through or mind blocked?

[4:02 pm, 05/10/2022] +Smiley face: You can be 20s or 50s or 70s.... let not this naughty Disruptor rob us of all hopes!

Put that dire straight away!

[4:04 pm, 05/10/2022] +Smiley face: Be brave! Let us stand up as ONE SOLID TREE, ... SIMPLY for all humanly created challenges can be solved!

Find solutions... sure ok!

[4:15 pm, 05/10/2022] +Suma pamu: The problem 

Now I am saying The Non mature estate 3rm resale going for 400k

So jusf matter of timethe bTo will follow suitem

Plz look at the Resale transactio prices especially the Just Mop ones in Non mature estate like Pungl canberra etc

[4:17 pm, 05/10/2022] +Suma pamu: So focus and tackle where the problem actually starting!!

Otherwise even more harder days ahead for Singaporeans!!

[4:22 pm, 05/10/2022] ☸️  Danny 心: 

Do you think the latest measures and forms of support are sufficient to ensure affordable public housing for the masses?

1. I feel that pushing out policy to cool the resale flats and private houses - it will have a knock-on effects on new BTO flats - not only in the mature estates but also the non-mature estates.

2. I think for the prices of the overall HDB flats - whether for new BTO or resale flats in both mature and non-mature estates ---- we will need some time to see the effects.

The price won't come down immediately - like a switch "on/off".

Hence to see if the recent cooling measures if effective or not - will have to wait a few months to see the effects.

3. But looking at the measures objectively :-

a. 15 months wait for private dwellers who sell their flats before can buy HDB resale flat (instead of 6 months) --- will make downgraders less enticing and more inconvenience to downgrade as they need to find interim accomodation.

So even though downgraders can pay cash to foot the entire flat without the need to borrow loan to buy flat - it will make downgraders think twice to downgrade - because of the inconvenience to find interim accomodation.

This will squeeze demand for resale flats - and will likely to bring down resale flat prices.

b. Lowering the loan quantum from 85% to 80% will only make the group - those downgraders who are short of cash (as the sales are meant to finance their business or pay debts) - less affordable to buy resale flat.

This will also help to squeeze demand for resale flats and lower prices for resale flats - due to lower demand.

c. As both measures have the effect of dampening demand for prices of resale flats, it will in the medium term bring down the high resale flat prices.

As resale HDB prices have a knock on effect on new BTO flat prices and private houses - it will also likely to bring down the prices of new BTO flat prices in mature and non-mature estates as well as the private houses.

d. So in medium term, I feel that the cooling measures are likely to bring down the high prices in both new BTO flats, resale flats and private houses.

But not so sure about the prices of GCB, and premium private condos --- whereby ultra-rich foreigners demand for such private houses are still going strong. These market will probably not affected by the above 2 measures - as price are quite inelastic for these property categories - due to the strong buying power of the ultra-rich foreigners.

[4:24 pm, 05/10/2022] +Smiley face: 5 October, 2022

" What so great about that Hope?"

Hopes:

Hope is a powerful paradigm shifter of life! With hopes, it can uplift us or do the impossibles or show us the little light during dire times. This HOPE (invincible thingie) can come in many shapes and forms. It can be listening to favorite oldies music or a good nite out with loved ones or even a simple short family vacations (Cruise to nowhere) will ignite all hopes that is worth more than Money could afford to buy it, is true!

Can we see is not always be bothered by this naughty money (NM), though today's topic is about buying a home and the realities of living in Singapore!

MONEY can become non-meaningful (NM) especially in situations like overly indulged in it or the end of one's life.

So M…

[4:26 pm, 05/10/2022] +Suma pamu: Quite in terms with Govt is saying

But lets see😀

They closed one channel forgot that there are many reasons apart from down graders LOL

[4:33 pm, 05/10/2022] +Smiley face: Short of money?

Children grown up and doesn't wish to stay with parents?

Passing on of one's spouse?

Need to survive into old age?

Are these probable and common reasons to "down size" one's living space?

[4:34 pm, 05/10/2022] +Rama: Covid-19 is definitely a game changer!

[4:34 pm, 05/10/2022] ☸️  Danny 心: 

Another important measures, to build 100,000 new BTO flats - in anticipation of demand - will definitely bring the HDB flats price down to affordable level.

But it di come with a financial risk to government - and whether it will be overbuilt?

I feel that more such new flats should be build in mature estates - as young couples want to live near their parents - not far away in the suburban areas.

Also soon lands from suburbs areas will be used up.

Mature estates lease will soon expire - isn't it the right time to make the new BTO flats in mature estates affordable (equivalent price like non-mature estates).

Not wise to push all the young couples to non-mature estates.

See sengkang all young couples - become rebellious.

Surely not wise isn't it?

If mixed young couples with their parents in mature estates - isn't it wiser?

[4:35 pm, 05/10/2022] +Smiley face: Or down size to monetize and pass on to children to buy their First homes?

This is the most admirable deed!

[4:36 pm, 05/10/2022] +Rama: The thing is we will never know the actual land cost when factor in subsidies.  Only then,  a clear picture of prices will be given.

[4:38 pm, 05/10/2022] ☸️  Danny 心: 

Let the government work out the land prices, resale values, grants, subsidies etc.

As long as supply exceed demand - in economic, prices will come down and correct itself.

[4:38 pm, 05/10/2022] +Smiley face: Hi Andrew,

Maybe can "peep" into the immediate past land sales for EC or Condor (vicinity specific) as an indicator of opportunity cost?

[4:40 pm, 05/10/2022] +Rama: Is the data there from valid government records!?

[4:41 pm, 05/10/2022] +Smiley face: Some countries let Private builders to build mass housing projects (meaning volume builders). While the policymakers got 'fishing'?

So what happened say for a window period of one decade, that's enough to cause social chaos and a big displacement of affordable housing needs!

[4:42 pm, 05/10/2022] +Rama: Yes

[4:45 pm, 05/10/2022] +Smiley face: Let those whom are keen to learn, to research land prices and land bank...be specific on vicinity and quantify a time line.

We are not interested in land price appreciation. What the research should focus on utility and vicinity and developments as an Ecosystem, this case public housing vs Private housing...

Does it sound ok? Or some more variables missing in this equation?

Thanks Andrew for digging one's brain...lol!

[4:45 pm, 05/10/2022] +Rama: Most welcome 😆😄😃😁🤷‍♂️

[4:46 pm, 05/10/2022] +Smiley face: "Is never a gentleman or a gentle lady to compare apple with apricot...?"

- - annoymous

[4:47 pm, 05/10/2022] +Smiley face: Need your wip to unlease those Rusty brain cells, aka recalling things....lol

[4:49 pm, 05/10/2022] +Smiley face: "Importantly, Our SINGAPORE national interests MUST be protected'...."

- - annoymous

[4:50 pm, 05/10/2022] +Rama: Definitely

[4:53 pm, 05/10/2022] +Smiley face: No country = No home = No hope

[4:53 pm, 05/10/2022] +Rama: Touche!

[4:56 pm, 05/10/2022] +Smiley face: In difficult times, or challenging moments, use the reversal theory of KEEPING things SIMPLER so much so it can be seen clearly and the possible ways to handle each obstacle...

Apply this to anything from tangibles to intangibles!

Key is CALM AND CLEAR! 

BTW, OOP, SMALL BITES ALWAYS WIN!

[4:56 pm, 05/10/2022] +Rama: Agree

[4:58 pm, 05/10/2022] +Smiley face: Hope all of us inclusively our key policymakers will exercise these simple pointers...even with adversaries...

Forward or reverse...

That's yin and yang in motion?

"Don't use eggs and slam the concrete wall!"

[4:59 pm, 05/10/2022] +Rama: A buffer is required in between

[5:02 pm, 05/10/2022] +Smiley face: What's a buffer?

[5:02 pm, 05/10/2022] +Rama: Something to cushion sudden fluctuations

[5:08 pm, 05/10/2022] +Smiley face: Past Experienced?

[5:11 pm, 05/10/2022] +Rama: Yes

[5:13 pm, 05/10/2022] ☸️  Danny 心: 

This is known as the ripple effect.

As we push young couples out to the fringe, soon the fringe will be used up, and need to come back to build in the mature estates and make it affordable.

[5:22 pm, 05/10/2022] +Smiley face: One concern (though not fear) is what's the unintended consequences or never thought it would happen otherwise a meaningful outcome!

[5:23 pm, 05/10/2022] +Smiley face: Plus frequency (occurance) and amplitude (Hi-Lo range)

[5:26 pm, 05/10/2022] +Smiley face: To avoid big ripple... avoid throwing a big stone into the pond (what's the depth of this pond?)

Scatter with sand across the ponding water (assuming the shallowness of this water basin?)

A good metaphor, Danni!

[5:35 pm, 05/10/2022] +Smiley face: Just in time = Pull strategy

Just in case = Push strategy

Hope is useful in workplace?

[5:45 pm, 05/10/2022] +Smiley face: "The many problems with aging (80 yrs and above) is determined by habits formed prior to age 50 than heredity itself..."

- - George E. Vaillant

Prof of Psychiatry @ Harvard     Medical School

[6:02 pm, 05/10/2022] +REACH: 📢 Topic 📢

Minister Desmond Lee, in Parliament on Oct 4, said that the Government will intervene and do what is "necessary" to ensure affordable public housing for Singaporeans as well as a stable property market. He added that keeping public housing accessible is a "key national priority" and provides the basic foundation to raise families, bring up children and build strong communities.

He elaborated on the rationale for the latest slew of measures announced on Sept 30 to moderate demand in the HDB resale market. He said these were meant to ensure HDB flats remain affordable and to encourage prudent borrowing amid the rising interest rate environment.

💬 What are your thoughts on Singapore’s public housing affordability? Do you think the latest measure…

[6:10 pm, 05/10/2022] ☸️  Danny 心: https://www.straitstimes.com/singapore/singapore-records-6888-new-local-covid-19-cases

Singapore records 6,888 new Covid-19 cases.

[6:13 pm, 05/10/2022] +Rama: Agree

[6:18 pm, 05/10/2022] +Smiley face: Prof George is a Distinguished fellow, including the studies of  heroine effects on brain...

[6:20 pm, 05/10/2022] +Smiley face: A necessary natural path of this pathogen (covid) to endemic.

COVID, influenza, ordinary flu and 20 others are in circulations globally now...

[6:34 pm, 05/10/2022] +JC: Good policy. Thanks!

[6:45 pm, 05/10/2022] +REACH: Dear 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

[6:58 pm, 05/10/2022] +Smiley face: https://youtu.be/qYN9UpGKnDQ

Our Distinguished Dr Liu Thai Ker, Former Chief of URA, watch his presentation 20.49 min....

[6:58 pm, 05/10/2022] ☸️  Danny 心: 

Also should HDB allow people who borrow from banks, regretted and want to borrow from HDB/CPF -- to allow to borrow from HDB/CPF.

[6:59 pm, 05/10/2022] +Rama: No

[6:59 pm, 05/10/2022] +Smiley face: https://youtu.be/41VJudBdYXY

[7:00 pm, 05/10/2022] ☸️  Danny 心: 

Why not?

[7:00 pm, 05/10/2022] +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 😊

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