REACH (Telegram) 32 -  What are your views on the Government blocking the Income-Allianz deal? How can future mergers in the insurance industry be managed to balance competition with public interest?

(SK)

15 Oct 2024 (10am - 7pm)

REACH (Telegram)

REACH Singapore, [15/10/2024 9:53 AM]

Dear contributors,

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REACH Singapore, [15/10/2024 9:53 AM]

REACH Singapore, [15/10/2024 10:23 AM]

📢 Topic 📢

On October 14, Mr Edwin Tong, Minister for Culture, Community, and Youth and Second Minister for Law announced in Parliament that the Government had decided to call off the much-debated deal between German insurer Allianz and Income Insurance. Under the proposed deal, which was announced on Jul 17, Allianz would have acquired a majority stake in Income. "The government has assessed the proposed transaction and concluded that it would not be in the public interest for the deal, in its current form, to proceed,” Mr Tong stated.

💬 What are your views on the Government blocking the Income-Allianz deal? How can future mergers in the insurance industry be managed to balance competition with public interest?

📌 Concerns Over Deal Structure

Mr Tong said the Government does not have concerns over Allianz’s standing or suitability to acquire a majority stake in Income. The concerns lie in the terms and structure of this specific transaction, particularly in the context of Income’s corporatisation exercise. 

“We find it difficult to reconcile the proposed substantial capital reduction, soon after the transaction is completed, with Income’s representations to MCCY during the corporatisation exercise that it was aiming to build up capital resources and enhance its financial strength,” said Mr Tong. 

While the Government will not allow the proposed transaction to proceed, it said it is open to new arrangements if the concerns highlighted are fully addressed.

📌 Revisions to the Insurance Act

The Government plans to amend the Insurance Act to establish a "clear statutory basis" for MCCY’s input to be considered in applications involving insurers that are either co-operatives or affiliated with a co-op, Mr Tong stated.

Currently, the Monetary Authority of Singapore (MAS) is not required to take MCCY’s views into account in such matters, he added.

Mr Tong emphasized that insurance co-operatives are a “special category" of insurers with a social mission, making it important for the views of the minister responsible for co-ops to be taken into consideration.

📌 Future Steps

In statements released late Monday, both Income and Allianz affirmed their commitment to working with relevant stakeholders to determine their next steps.

Allianz told CNA that it would consider making revisions to the proposed transaction structure and will assess the situation in collaboration with Income and NTUC Enterprise. The company added that it respects the Government's position.

Income similarly expressed its respect for the decision and appreciated the Government's recognition of the "strategic purpose" behind its corporatisation in 2022, as well as its plans to partner with Allianz to strengthen its long-term position.

"Income Insurance acknowledges the Government’s concerns about the transaction's terms and technical structure and understands the need to amend the Insurance Act to establish a clear statutory basis for reviewing and approving such applications," the company said.

👉 https://str.sg/7jKu

👉 https://www.channelnewsasia.com/singapore/ntuc-income-allianz-deal-singapore-government-edwin-tong-4675491

👉 https://www.channelnewsasia.com/watch/ministerial-statement-edwin-tong-blocking-income-allianz-deal-4676696

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REACH Singapore, [15/10/2024 10:49 AM]

REACH Singapore, [15/10/2024 10:50 AM]

Dear Contributors,

We want to HEAR MORE from you!

💬 What are your views on the Government blocking the Income-Allianz deal? How can future mergers in the insurance industry be managed to balance competition with public interest?

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

Thank you.

Megan 😊

REACH Singapore, [15/10/2024 11:01 AM]

[ Poll : Do you agree with the Government's decision to block the Income-Allianz deal due to concerns over Income's social mission and the deal’s structure? ]

- Yes, I fully agree with the decision.

- Yes, but I believe the deal could be restructured to address the concerns.

- No, I think the deal should have been allowed to proceed.(Please share your views in the chat below)

LCL (Danny 心), [15/10/2024 11:04 AM]

311. I post in REACH (Telegram) LCL (Danny 心), [14/10/2024 2:24 PM]:-

Income must be sustainable.

Unless government guarantee its viability.

Hmm..

As long as government guarantee, then I ok.

But that means taxpayers money will got to be used to prop it up when Income come under financial stress to safeguard the customers interest that have bought the insurance products.

LCL (Danny 心), [14/10/2024 5:49 PM]

Now there is a need for Parliament to explain the financial viability of Income since the deal has fall through.

Is Income able to honour all the financial commitment of all the insurance products sold to customers?

Some insurance products are very long haul - stretch up to 30 years.

Some even end of life.

In the event if Income come under financial stress, what remedies does Income have?

Will the government commit funds to support Income financial commitment?

Understand that Income will continue to search for partners to get a better deal.

But meanwhile, customers of Income need to be assured their products invested are protected.

LCL (Danny 心), [14/10/2024 5:53 PM]

In fact this is a more serious scenario compare to the partner alliance hoo-ha that are stem on emotions.

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CNA news 14 Oct 2024 14 Oct 2024 01:32PM (Updated: 14 Oct 2024 05:09PM)

Singapore blocks Income-Allianz deal but leaves door open if concerns over public interest are fully addressed.

CNA news 14 Oct 2024 05:27PM (Updated: 14 Oct 2024 06:40PM)

Income Insurance has enough capital to meet its liabilities and existing policyholders need not be concerned, despite a proposed deal with German insurer Allianz being blocked, Monetary Authority of Singapore (MAS) deputy chairman Chee Hong Tat said in parliament on Monday (Oct 14).

Mr Chee, who is also transport minister and second minister for finance, reassured Income policyholders, after Culture, Community and Youth Minister Edwin Tong announced that the government had intervened to block the deal.

“Income has sufficient resources to meet the necessary capital adequacy ratio, which means it has enough capital to meet its liabilities and also to pay out to policyholders.”

LCL (Danny 心), [15/10/2024 11:09 AM]

Source:- Google 

ST: Income Insurance is profitable, but pressures on the business have been observed for some time now. 30 Jul 2024

LCL (Danny 心), [15/10/2024 11:24 AM]

1. Hence I believe the Government has not let go of the idea of Income seeking partners as Income business come under pressure to grow in a competitive insurance market against the big Giants.

2. The Government just want Income to have a better deal and protect Income cooperative social missions as its 初衷。

3. Agree the new information emerge that Income merger deal has put us in a disadvantage - and we shouldn't go through with the deal.

4. An amended Act by Parliament to safeguard our interest is warranted - so that future deals will uphold our interest.

5. My only concern is that Income must have sufficient financial firepower to honour all our financial products we have bought from Income.

6. The Government assurance that Income has sufficient adequate capital ratio to fulfill its commitment is reassuring - after investors has pump in few hundred millions of dollars in shares to finance Income.

7. But Income business needs to be able to sustain long term as many financial products are long haul that stretch up to 30 years and some end of lives - for life insurance.

8. We need assurance that in the event of financial distress somewhere down the long road, Government is able to find strong partners to merge with Income to ensure its business viability.

9. Else Government assurance to step in to help with taxpayers money will ensure Income cooperative social missions can be fulfilled without Income customers suffering financial loss from the purchase of Income insurance products.

G, [15/10/2024 12:17 PM]

Hiding critical information (capital extraction) when they were initially trying to push the deal through. 

How is this honest?

xXx.SCAR.xXx, [15/10/2024 12:31 PM]

Definitely doesn't foster / build trust

LCL (Danny 心), [15/10/2024 12:44 PM]

Allianz to consider revising proposed Income deal; respects Singapore government's position.

https://www.channelnewsasia.com/singapore/allianz-income-deal-consider-revisions-singapore-government-ntuc-enterprise-4678631

LCL (Danny 心), [15/10/2024 12:47 PM]

Good that the Government move has spur Income and Allianz to reconsider the Government position and the coming Amended Act.

Hope we have a better deal.

CTO, [15/10/2024 12:57 PM]

Since the private sector’s proposal doesn’t not fit the authorities’ concerns, why doesn’t our country financial strongholds like Temasek Holding or GIC - take over financial support for Ntuc Income(buy over the shares) - so that social aspects of citizens(+ policies holders) - can be very well taken care of n Ntuc Income shareholders r happy!!!

Can such initiatives be implemented???

LCL (Danny 心), [15/10/2024 1:01 PM]

Temasek and GIC run sovereign funds as investors.

They don't run insurance companies.

There are no value add to the sovereign funds.

We need a partner that help to grow Income insurance business.

Cannot rely on our sovereign funds to burn money to sustain a business that have problem growing.

Else our CPF interest will keep going down and our sovereign reserves will be depleted.

Adam, [15/10/2024 1:01 PM]

Didnt you support the initial merging decision?

LCL (Danny 心), [15/10/2024 1:02 PM]

Minus the new information.

LCL (Danny 心), [15/10/2024 1:02 PM]

With new information, the current Act amendment is needed to protect our capital.

Adam, [15/10/2024 1:03 PM]

Yeah, its good the gov can make changes on new info

LCL (Danny 心), [15/10/2024 1:03 PM]

If Allianz and Income take into account the government position, the deal could be acceptable to us.

LCL (Danny 心), [15/10/2024 1:05 PM]

As Income need a strong global insurance partner.

Allianz is one of the largest world insurance company.

And their reach will definitely benefit Income desire for global reach as well as growing Income insurance business and financial viability in the long haul.

CTO, [15/10/2024 1:06 PM]

Temasek Holding n GIC should starts to look inwards(if they had not done so.)

After all, they r the funds powerhouse of Sg. 

If they don’t help Sg(local companies), who will???

LCL (Danny 心), [15/10/2024 1:07 PM]

Temasek and GIC must make profit.

Not dump money to support unviable business.

Else all our reserves gone.

LCL (Danny 心), [15/10/2024 1:08 PM]

Unless local business is a strategic companies that cannot demise, but in long term local strategic companies must find ways to be profitable.

Else it is a black hole draining all our reserves savings away.

LCL (Danny 心), [15/10/2024 1:10 PM]

And GIC reserves include investing our CPF retirement money.

CTO, [15/10/2024 1:12 PM]

If Ntuc Income is considered(to be dumping money), then because of social impact to citizens, the GOV must support with fundings. 

Whether they r doing it, thru TH, GIC or other establishments, yet to be seen………

When they block the sales, there must be an alternative solutions to sustain Ntuc Income right???

LCL (Danny 心), [15/10/2024 1:15 PM]

That's why the Government didn't let go of the idea of future partnership if the partnership look into the Government position of Capital protection.

Now both Allianz and Income say that are reviewing the merger structure and Allianz is willing to revise their offer.

Then we will wait and see.

The government position help us to get a better deal.

CTO, [15/10/2024 1:15 PM]

Hopefully……….

CTO, [15/10/2024 1:16 PM]

Only if it resulted in 10x shares appreciation instead of 4x………….

LCL (Danny 心), [15/10/2024 1:17 PM]

Propping up a business that have difficulty in growing whether through taxpayers money or sovereign funds - are not sustainable.

My comments above is to make readers think carefully - whether we want to pay more taxes or use our reserves savings to finance a business that have difficulty growing or not.

CTO, [15/10/2024 1:18 PM]

If Ntuc Income is not viable, nobody will offer 4x de.

LCL (Danny 心), [15/10/2024 1:20 PM]

Insurance market is too competitive and too saturated in Singapore market.

Our market is too small and Income must go for global market to grow its business.

If Income can only corner 10% of Singapore small market and unable to break into global market - what make us think Income insurance will be viable in the long run?

CTO, [15/10/2024 1:27 PM]

Is it for our strong Sg funhouses to help/initiate ways to help local businesses like Ntuc Income to globalise. 

Maybe Spring Singapore should step in…………

LCL (Danny 心), [15/10/2024 1:27 PM]

Unlike our other strategic local companies that have strategic products and services.

Eg. SIA have strategic air right reach to many countries in the world.

ST engineering has strategic products that are wanted by global market.

DBS has corner substantial savings after merger with POSB and has strong regional reach.

OCBC and UOB have regional reach in banking sector. UOB also successfully acquire Citibank retail banking in China and HK.

Keppel Corp and Sembcorp had special global eco city building capabilities, oil drilling,  ship MRO, etc.

Singtel acquisition of NCS has knowledge in development of governing system.

Comfort Delgro win management of MRT projects and bus transport project overseas.

PSA corp win port management overseas.

SATs win airport management overseas.

Raffles medical group had open up hospitals and clinics in China and some overseas market.

Osim has successful venture in luxury overseas market.

Etc etc.

CTO, [15/10/2024 1:28 PM]

If Alliances can go international, Ntuc Income should be able to do likewise. 

It just takes leadership…………..

LCL (Danny 心), [15/10/2024 1:29 PM]

Income insurance is about strong financial base, insurance needs, technology exploitation to sell products and know how.

Big global insurance companies will have such cap and such know how.

Allianz is a good partner.

Eg. Look at our other local insurance companies, we are still very local - difficult to penetrate overseas insurance market.

CTO, [15/10/2024 1:30 PM]

Sg also hv many capable leaders, just who to tap only……….

LCL (Danny 心), [15/10/2024 1:31 PM]

Income has use tech apps to sell to ASEAN countries by collaborating with ASEAN local banks and financial institutions.

But not selling well, because their local banks push their local insurance products than Income products.

CTO, [15/10/2024 1:32 PM]

Can never run into fine details as capable CEOs r paid to do the jobs. 

Just - must dare to hv the directions n act!!!

LCL (Danny 心), [15/10/2024 1:33 PM]

If Singapore is as big as China market, no sweat.

Close one eyes, Income can become billion dollars company within 1 month.

1.4 billion people just throw $1 dollar - Income can do very well $1.4 billions in one month.

Singapore 6 million population, each one $1 only $6 million.

LCL (Danny 心), [15/10/2024 1:36 PM]

Insurance business is never a strategic companies.

Any company with strong $ - can press their competitors.

Allianz is trillion dollars company.

Income, only low single digit billion dollars.

How to offer competitive products in global insurance market?

LCL (Danny 心), [15/10/2024 1:39 PM]

NTUC Income Makes First Foray Overseas, Offers Insurance-as-a-Service in Southeast Asia | Income Insurance

https://www.income.com.sg/about-us/corporate-information/press-releases/ntuc-income-makes-first-foray-overseas,-offers-ins

LCL (Danny 心), [15/10/2024 1:39 PM]

Take up rate quite low.

G, [15/10/2024 2:01 PM]

So taking into account MAS's position is not enough to count as government position?

G, [15/10/2024 2:03 PM]

Wasn't there supposed to be capital extraction after the allianz income deal? 

Means income had sufficient assets

G, [15/10/2024 2:05 PM]

Means the leaders not capable enough to break into foreign markets lor. 

Why allianz and other foreign companies manage to break into sg market?

Why can't sg companies break into foreign markets?

G, [15/10/2024 2:08 PM]

NTUC is a PAP instrument anyway. That's their history

There's a lot of talk about tripartism between govt, employer, and union

We've yet to see evidence that NTUC will support the govt regardless of which political party is in power

CTO, [15/10/2024 2:13 PM]

That is exactly what I am asking all along….?

If Allianz n foreign insurance companies can break into Sg, why Sg insurance companies cannot break into foreign markets?

We r definitely not short of capable leaders right???

G, [15/10/2024 2:13 PM]

Seriously.. Just see how many "entrepreneurial" Singaporeans there are. Mostly open cafe nia. 

Else be some franchisee of big brands, open shop in SG. 

How many dare to venture overseas?

G, [15/10/2024 2:13 PM]

Compare that with how many foreigners, come here to sg to start business

CTO, [15/10/2024 2:16 PM]

Sg must hv entrepreneurship meh……….otherwise, do something fast n quick to encourage entrepreneurs in Sg hor…….

Otherwise, we can foresee to be left behind liao…………

G, [15/10/2024 2:16 PM]

Actually more young Singaporeans should venture overseas to work, start and grow families

Conditions in sg becoming less and less conducive to both work, and start and grow families. 

Cost of living is so high and increasing faster than salaries are increasing

Jun Ming, [15/10/2024 2:16 PM]

Is it the policy here or overseas policy not in favour to Singaporean to venture out? Or the culture here is discouraging

G, [15/10/2024 2:17 PM]

Singaporeans too spoilt and comfortable?

Jun Ming, [15/10/2024 2:17 PM]

Or rich Singaporean with the capital are actually outsiders

G, [15/10/2024 2:18 PM]

Perhaps?

Jun Ming, [15/10/2024 2:20 PM]

Or maybe Singapore products is expensive in nature so there is no way to compete with the cheap manufacturer abroad

LCL (Danny 心), [15/10/2024 2:25 PM]

Source :- Google 

Singapore derives most of its revenues from foreign trade. The biggest export product, with 43 percent share, is machinery and equipment. The country also exports petroleum (19 percent); chemical products (13 percent); miscellaneous manufactured articles (8 percent) and oil bunkers (7 percent).

LCL (Danny 心), [15/10/2024 2:25 PM]

Singapore trade is 3 times the size of our GDP.

About $1.5 trillion.

LCL (Danny 心), [15/10/2024 2:27 PM]

In fact the last mile of my careers are doing projects all over the world.

From US, to EU, to Middle East, Africa, Central Asia, China, ASEAN and Asia Pacific.

This is the reach Singapore companies have - because we have strategic products and know how.

LCL (Danny 心), [15/10/2024 2:28 PM]

Even DBS, OCBC and UOB also have regional reach - mainly to China, HK, ASEAN, India.

G, [15/10/2024 2:28 PM]

Should also look inwards:

Supposed you are a parent. You have invested heavily in your children's education, they have responded very well and obtained good honours bachelors' degrees from reputable universities. Heck some of them even got their masters or PhDs. 

Would you allow your children to venture overseas for job opportunities / develop promising business opportunities, possibly to start their homes and bring up their children away from SG? Away from you?

Perhaps it's the Singaporean parent who's holding Singapore back

LCL (Danny 心), [15/10/2024 2:30 PM]

Incidentally all my relatives and close friends children work overseas for a long periods.

Eg. In Japan, HK, China, Sweden, Germany, US etc...

LCL (Danny 心), [15/10/2024 2:30 PM]

Come back, very good pay and promotion.

LCL (Danny 心), [15/10/2024 2:32 PM]

In fact, nowadays, many universities student exchange and internship are with overseas companies and foreign universities.

LCL (Danny 心), [15/10/2024 2:35 PM]

And in one competitive tender overseas bid in which I was involved, our company beat 1 US consortium, 1 EU consortium, 1 local consortium to clinch the deal.

LCL (Danny 心), [15/10/2024 2:39 PM]

But there is one problem, those stay too long overseas for work and come back - difficult to find a spouse or relationship break.

That's why impact the TFR.

Very likely to marry late.

REACH Singapore, [15/10/2024 2:41 PM]

https://www.channelnewsasia.com/singapore/mrt-east-west-line-disruption-smrt-lta-chee-hong-tat-4678996

G, [15/10/2024 2:42 PM]

Would you as a parent be ok if your child marries a foreigner who is of different race?

Would you be willing to migrate overseas to be with your children (and future grandchildren), thereby "abandoning" your aging parent?

Is it so difficult a decision, given our ancestors did the same when they left China / India / wherever all those years ago?

To me, not so much about policy, but more of willingness to go out of comfort zone

G, [15/10/2024 2:42 PM]

Better not come at the expense of higher transport fees 😡

If the transport companies need to fund the fees, then just deduct the upper management's salaries

Jun Ming, [15/10/2024 2:48 PM]

I think it's the currency and culture. Singapore currency is kind of strong. You need to work more abroad compared to working in sg.

G, [15/10/2024 2:49 PM]

It can all be worked around. Just need to put in effort to find or work for the appropriate opportunity. 

Foreigners who end up in SG do that all the time, and so making that decision to leave what they are familiar and comfortable with

Jun Ming, [15/10/2024 2:50 PM]

This is why Malaysian come to Sg to work rather than sg people going to Malaysia to work and create business. The purchasing power is totally different

G, [15/10/2024 2:51 PM]

This one is easier decision because of financials and close physical proximity and relative cultural similarity. 

But what about foreigners from further away?

G, [15/10/2024 2:55 PM]

Suppose I'm a nurse in SG, working in govt hospital, overworked. Long hours. Every time hear people complain. 

I go UK / Australia work as nurse in their govt hospitals. Better working conditions. So what if tax there is high? Basic pay also high. Can do the sums, tiagong from friends who made that leap, take home pay is higher than SG. 

And whatever the take home pay is there is better spending power too

G, [15/10/2024 3:06 PM]

Where's the option for 

"Yes, I agree with the decision to block the deal, and don't want any more deals of similar nature (selling national assets to foreign entities)?"

G, [15/10/2024 3:14 PM]

Ridiculous

"Public transport service levels and disruptions should be separate from fare reviews: Chee Hong Tat"

https://www.channelnewsasia.com/singapore/east-west-line-train-disruption-chee-hong-tat-4678956

If don't punish where it hurts (profits and pockets of senior management) then where's the incentive for better service? 

If like that, has SG lost some sovereignty over our public transport system and become beholden to private companies, because the govt is scared to lose their service?

Truly truly.. Gone are the days of LKY where things "just work" because they have to. And LKY has the gumption and will to take those responsible to task, to ensure things continue to work in SG

REACH Singapore, [15/10/2024 4:05 PM]

📢 Topic 📢

REACH Singapore, [15/10/2024 4:08 PM]

https://www.straitstimes.com/singapore/politics/500000-out-of-28-million-mrt-journeys-affected-daily-during-east-west-line-disruption

LCL (Danny 心), [15/10/2024 4:27 PM]

LCL (Danny 心), [14/10/2024 3:23 PM]

*School Bullying*

1. School bullying has happen since early times - even happen during our times.

2. With the advent of social media and the proliferation of smartphones with video camera - school bullying in its raw form surface in the social media when recorded and uploaded.

3. Physical form of bullying, beating and physical abuses frequently happens in primary, secondary, ITE and sometimes polytechnics.

Psychological and mental bullying also occurs.

With more youth of social media, bullying extend into the cyberspace.

4. Such bullying physical and mental - will take a tremendous toll on the victims and parents putting their children into schools expect their children to be in safe spaces - and not let their children suffers physically and mentally.

5. Hence, MOE, schools and even police - must devote resources to prevent bullying, have specific procedures to report, monitor, handle, punish and rehabilitate offenders and victims.

Else the damage to victims cannot be under estimated whether mentally as well as physical injuries.

6. I realise lately, schools are adopting a soft and pacifiying approach to offenders in bullying and often punishment are not made known to public.

Though soft approach and education have beneficial effects in helping victimes cope and recuperate from the bullying as well as make bullies realise their mistakes, repent and rehabilitate in some cases --- but hardcore bullies, gangsters and abused famillies will not have effects on some harden bullies.

Hence carrot and stick approach may be required for physical bullies - to instill fear, deterrence and make public the approach taken to deal with bullies.

7. For physical bullying that result in physical assault, beating and torture - punishment must be made known to public - that such physical abuse will not be tolerated and punish severely - so that future bullies will think thrice not to commit such acts.

Eg. 

a. Caning in front of assemblies by disciplinary master

b. Police frequent talks and presentation of how bullies and criminals are cane in prison

c. And how bullies are monitored, counsel and rehabilitated must be made known - to make future bullies be aware that bully will have its consequences.

8. Counsellors, physiologists must also be rope in to ensure victims are not mentally and physically harm from the bullies and help victims to recuperate.

9. Parents of both offenders and victims - must be rope in to walk the rehabilitation journey for both offenders and victims.

10. As physical bullies, mental bullies (in verbal and social means) as well as social media bullies are different - various approach to handle them need to be devised.

----

CNA news 14 Oct 2024 02:11PM (Updated: 14 Oct 2024 08:51PM)

Caning is used as a last resort for boys and carried out in an appropriate manner only by authorised adults, he added. 

For severe bullying or fights, a police report will be made and perpetrators will face legal consequences in accordance with the law.

Parents' support and partnership are also required as they are vital in shaping children's character, he added. 

The perpetrators often also need help to turn over a new leaf. 

"We want to steer clear of actions that might hinder or deny a perpetrator's chance for rehabilitation.

LCL (Danny 心), [15/10/2024 4:31 PM]

"Singapore society must be careful not to normalise bullying behaviours unintentionally: Chan Chun Sing.

Circulating viral videos or attempting to dox the perpetrators could drive them to extremes, making it harder for them to mend their ways, says the Education Minister."

 https://www.channelnewsasia.com/singapore/school-bullying-viral-social-media-moe-parliament-qihua-bukit-view-4676436#:~:text=Singapore%20society%20must,the%20Education%20Minister.

Jun Ming, [15/10/2024 4:39 PM]

I rather have a better punishment than refer to the police. It will destroy the children future.

Yes they also need help to turn over a new leaf. So do give bullies a chance at the same time educate them either cane or the appropriate method. For example challenge the kids not to do such things by competing push up with them

LCL (Danny 心), [15/10/2024 4:40 PM]

Which is translated into getting taxpayers to pay higher GST, higher property tax, higher income tax, higher corporate tax, etc to fund the expenses of insurance business that are not growing.

Or putting retirement savings our CPF on the line to finance not viable company.

Like a black hole year after year.

Until reserves savings depleted.

REACH Singapore, [15/10/2024 6:05 PM]

📢 Topic 📢

REACH Singapore, [15/10/2024 6:59 PM]

Dear Contributors

We will be closing the chat for today.

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

Goodnight!

Megan 😊

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REACH (Telegram) 31 -  Over the course of the sitting, we will be sharing articles on key issues discussed. Please share with us what areas you might be interested in and let us have your views on them.

(SK)

14 Oct 2024 (10am - 7pm)

REACH (Telegram)

REACH Singapore, [14/10/2024 9:46 AM]

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 differnet 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://www.reach.gov.sg/Participate/reach-telegram-group/REACH-Telegram-Group-Chat-Terms-of-Use/

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 😊

REACH Singapore, [14/10/2024 10:00 AM]

📢 Topic 📢

Parliament will sit today (14 October) at 12pm. Parliamentary questions regarding the East-West Line (EWL) disruption, school bullying in the light of recent high-profile cases , the “surprise” layoffs by Dyson as well as  the implications of former transport minister S Iswaran’s criminal conviction will be raised. 

💬 Over the course of the sitting, we will be sharing articles on key issues discussed. Please share with us what areas you might be interested in and let us have your views on them.

📌 East-West Line (EWL) disruption

- Train services between Jurong East and Buona Vista MRT stations were disrupted for six days after a faulty train caused damage to the track and other equipment when it was withdrawing to Ulu Pandan Depot. Free bridging buses were deployed daily during the disruption. 

- MPs have asked whether the faulty train was withdrawn in accordance with approved procedures, the total number of affected commuters, the estimated fare revenue loss, and the total expenditure on bridging bus services. 

- They also inquired if the Ministry of Transport will conduct a review of the MRT network to prevent future disruptions, whether penalties will be imposed on service providers, and sought information on the end-of-life date and maintenance regime of the first-generation MRT trains, which contributed to the recent East-West Line disruption.

📌 School Bullying

- A viral video of a bullying incident showing a Bukit View Secondary School student being kicked and taunted by fellow students at a void deck surfaced on September 15. On September 25 footage of a Qihua Primary School student being assaulted by an older boy also surfaced online. The Ministry of Education reiterates its stance that bullying is unacceptable.

- MPs have called for updates on whether teachers are sufficiently trained to identify and manage bullying, if schools have enough trained personnel such as counsellors to support teachers and students, the extent of collaboration between schools and the police when bullying occurs outside of school grounds, the number of bullying cases reported over the past five years, as well as a breakdown between online and offline bullying incidents reported to schools.

📌 Retrenchments

- Technology company Dyson conducted a round of layoffs in Singapore, which serves as its global headquarters, on Oct 1. Several MPs highlighted how it gave just a day’s notice of the retrenchment exercise to the United Workers of Electronics and Electrical Industries.

- MPs have called for updates from the Ministry of Manpower (MOM) on whether it will address the short notice given by Dyson, if current retrenchment protocols will be reviewed to ensure unions receive timely notice, and what steps are being taken to improve pro-worker guidelines that “simultaneously encourage multinational companies to maintain their presence in Singapore while safeguarding welfare of workers”.

📌 Implications of S.Iswaran’s conviction

-MPs have asked whether Singapore’s anti-corruption laws should be reviewed for greater efficacy in the wake of Iswaran's sentence and if the definition of "public servant" under the Penal Code is fit for purpose for an offence under section 165 of the Penal Code which punishes the obtaining of gifts in public office when there are official business dealings between the parties. 

👉🏻https://www.channelnewsasia.com/singapore/parliament-order-paper-ewl-train-disruption-school-bullying-iswaran-dyson-layoffs-4672576

👉🏻https://www.straitstimes.com/singapore/transport/train-services-on-east-west-line-back-to-normal-westbound-trains-moving-slower-on-repaired-tracks

👉🏻https://www.straitstimes.com/singapore/police-report-lodged-after-video-of-secondary-school-bullying-incident-goes-viral

👉🏻https://www.channelnewsasia.com/singapore/dyson-retrenchment-singapore-layoffs-job-cuts-4651606

----

G, [14/10/2024 10:26 AM]

Trains: 

Why is hundreds of millions of dollars spent on the white elephant "founders memorial" rather than replacing the aging fleet of trains?

Public infrastructure spending:

How much more money is being diverted away from other public infrastructure upkeep/maintenance to fund new white elephant projects?

G, [14/10/2024 10:29 AM]

Iswaran: 

Is 12 mths jail long enough? Feels too short, too light. Same feeling as the ex Singaporean pianist Melvyn Tan who skipped/dodged NS, returned to SG in his 50s, only pay a paltry $5,000 fine.

G, [14/10/2024 10:31 AM]

Iswaran:

Why were corruption charges dropped for lesser charges?

Somehow this wasn't adequately explained, especially when the prosecutor was taking such a strong position

REACH Singapore, [14/10/2024 11:00 AM]

[ Poll : Which issue are you most interested in for today’s Parliament sitting?  ]

- East-West Line (EWL) Disruption 

- School Bullying 

- Retrenchments 

- Implications of S. Iswaran’s conviction

Nicholas, [14/10/2024 12:12 PM]

School bullying has been going on all this while. Only now this batch of bullies have filmed themselves and provided evidence of its existence. Time to nip this issue in the bud.

Jun Ming, [14/10/2024 1:18 PM]

I think most people will be interested in things happening on the ground. So like ewl disruption will be most in public interest. Where the case of iswaran is not fully related to normal people as most of us are not civil servant.

 But yes it is important to address and give a leaway for civil servant to earn extra income and to receive gifts from relatives and friends for birthdays and etc. if not who would want to be a civil servant?

Jun Ming, [14/10/2024 1:24 PM]

Bullying has been happening for the longest period of time for small to big. Different backgrounds of people give different types of bullying. From elite to neighbourhood school I think bully may comes in a different form. For neighbourhood school is more likely physical abuse while sometimes cyber abuse and mental abuse can be hidden easily.

REACH Singapore, [14/10/2024 2:00 PM]

📢 Topic 📢

REACH Singapore, [14/10/2024 2:18 PM]

📢 Income-Allianz deal off; government assesses it’s ‘not in the public interest’

https://www.channelnewsasia.com/singapore/ntuc-income-allianz-deal-singapore-government-edwin-tong-4675491?cid=internal_sharetool_iphone_14102024_cna

LCL (Danny 心), [14/10/2024 2:24 PM]

Income must be sustainable.

Unless government guarantee its viability.

Hmm..

As long as government guarantee, then I ok.

But that means taxpayers money will got to be used to prop it up when Income come under financial stress to safeguard the customers interest that have bought the insurance products.

LCL (Danny 心), [14/10/2024 2:42 PM]

*Retrenchment*

1. Currently, Singapore GDP Q3 2024 is growing very well 4.1% as compared to 2.9% in 2nd quarter of 2024.

https://www.channelnewsasia.com/singapore/singapore-economy-grew-41-q3-2024-mti-advance-estimates-4672826?cid=internal_sharetool_androidphone_14102024_cna

2. This means that it will prop up job creation and job growth.

3. However there are some worrying trends of announcement of retrenchments by various MNCs.

Some are due to exploitation of AI that have replaced worker's jobs.

ByteDance's TikTok cuts hundreds of jobs in shift towards AI content moderation replacing human jobs.

https://www.channelnewsasia.com/business/bytedances-tiktok-cuts-hundreds-jobs-shift-towards-ai-content-moderation-4672301?cid=internal_sharetool_androidphone_11102024_cna

Explainer: Why are there so many tech layoffs in 2024 amid the rise of AI?

https://www.todayonline.com/singapore/explainer-why-are-there-so-many-tech-layoffs-2024-amid-rise-ai-2342721

4. There are also a likely wave of retrenchment in 2024 due to a number of factors - e.g E-commerce slowdown, global supply disruption, decoupling, war disruption etc.

Why Singapore Employees Need To Be Ready For Retrenchment In 2024.

https://dollarsandsense.sg/business/why-singapore-employees-need-to-be-ready-for-retrenchment-in-2024/

The recent Dyson retrenchment.

5. So there are needs to look deeper as whether retrenchments will become a trend due to AI disruptions as well as other economic factors - so that our Workers, Government and Business are prepared to tackle it without triggering adverse social impact.

Adam, [14/10/2024 2:45 PM]

If tech companies set up shop in singapore, gov should see if they are here to develop local ai technologist or just business jobs

Adam, [14/10/2024 2:45 PM]

Well doesnt have to be ai. Generally people who develop the core technology instead of administrative functions

Adam, [14/10/2024 2:47 PM]

We should create an environment for high skilled, lasting jobs for locals instead of having places that is easily replaced

Adam, [14/10/2024 2:49 PM]

Emphasis for locals. There is a difference between the jobs the gov expects the corps bring in and what we actually see happens

LCL (Danny 心), [14/10/2024 3:23 PM]

*School Bullying*

1. School bullying has happen since early times - even happen during our times.

2. With the advent of social media and the proliferation of smartphones with video camera - school bullying in its raw form surface in the social media when recorded and uploaded.

3. Physical form of bullying, beating and physical abuses frequently happens in primary, secondary, ITE and sometimes polytechnics.

Psychological and mental bullying also occurs.

With more youth of social media, bullying extend into the cyberspace.

4. Such bullying physical and mental - will take a tremendous toll on the victims and parents putting their children into schools expect their children to be in safe spaces - and not let their children suffers physically and mentally.

5. Hence, MOE, schools and even police - must devote resources to prevent bullying, have specific procedures to report, monitor, handle, punish and rehabilitate offenders and victims.

Else the damage to victims cannot be under estimated whether mentally as well as physical injuries.

6. I realise lately, schools are adopting a soft and pacifiying approach to offenders in bullying and often punishment are not made known to public.

Though soft approach and education have beneficial effects in helping victimes cope and recuperate from the bullying as well as make bullies realise their mistakes, repent and rehabilitate in some cases --- but hardcore bullies, gangsters and abused famillies will not have effects on some harden bullies.

Hence carrot and stick approach may be required for physical bullies - to instill fear, deterrence and make public the approach taken to deal with bullies.

7. For physical bullying that result in physical assault, beating and torture - punishment must be made known to public - that such physical abuse will not be tolerated and punish severely - so that future bullies will think thrice not to commit such acts.

Eg. 

a. Caning in front of assemblies by disciplinary master

b. Police frequent talks and presentation of how bullies and criminals are cane in prison

c. And how bullies are monitored, counsel and rehabilitated must be made known - to make future bullies be aware that bully will have its consequences.

8. Counsellors, physiologists must also be rope in to ensure victims are not mentally and physically harm from the bullies and help victims to recuperate.

9. Parents of both offenders and victims - must be rope in to walk the rehabilitation journey for both offenders and victims.

10. As physical bullies, mental bullies (in verbal and social means) as well as social media bullies are different - various approach to handle them need to be devised.

Adam, [14/10/2024 3:33 PM]

How about the bystanders too. I feel like this is a culture issue. We want to foster a community and environment so i dont think the focus should entirely be on the bullies and bullied.

LCL (Danny 心), [14/10/2024 3:34 PM]

Yes bystanders also must be educated to respond to bullies.

G, [14/10/2024 3:56 PM]

Yes. Citizens shouldn't stand silently by the side when there's political bullying too. e.g. when political parties bully each other.

Especially so when the PAP bullies the population into taking the experimental covid jabs. This PAP put in place so many obstacles to make life difficult for anyone who they arbitrarily deemed to be "not fully vaccinated"

LCL (Danny 心), [14/10/2024 4:03 PM]

*East West MRT line disruption*

1. I notice that EW line MRT disruption is - a tail end problem that trigger the disruption.

What do I mean by this?

2. As a result of aging MRT lines in EW and NS, a widespread breakdown happens few years ago - and an overhaul plan is formulated to replace the signaling system, power system, rail lines and replacement of the 1st generation MRT train.

Noticeably, the replacement will go on until 2026 (in the replacement of 1st generation MRT train - Kawasaki train) - which are more than 30 years old - notably 35 years old.

The long duration of replacement could be due to, MRT manufacturers need lead time to build the new MRT train.

And also budget needs to set aside funds to fund the MRT train replacement.

3. So given the constraint, I feel that the recent detachment of axle box of the faulty MRT train - is a very rare occurence.

With such incident, revise procedures (such as inspection of axle box) for faulty train need to be made before the train can be tow back to depot for maintenance - to prevent damaging the rail lines, power and signaling system.

If axle box is observed to have been detached, then stopping the MRT line may be required and on the spot fix may be required before the faulty train can be towed back to depot - without damaging the rail track, power lines and signaling devices.

4. This means that occasion disruption maybe expected along the EW line - until all the aging MRT trains are replaced by 2026.

5. Meanwhile, I noticed that the main artery line along the EW line have some redundancies - notably the orange CCL line and the red NS line. 

So at least the majority of the passengers can take alternative line if EW line encounter some hiccups.

6. Having say so, buses, taxis and private hire - will need to be in place if EW are sometimes disrupted - and SMRT staff must be trained to handle occasional hiccups while waiting for all the old MRT trains to be replaced.

REACH Singapore, [14/10/2024 4:04 PM]

🔈 Allianz-Income deal off in its current form, Govt to open new arrangement: Edwin Tong

https://www.straitstimes.com/singapore/politics/allianz-income-deal-in-its-current-form-called-off-as-it-s-not-in-the-public-interest-edwin-tong-in-parliament

REACH Singapore, [14/10/2024 4:11 PM]

📢 Topic 📢

LCL (Danny 心), [14/10/2024 4:14 PM]

*Iswaran conviction*

1. The civil service IM (Instruction Manual) is always very clear about accepting gifts from business or individuals.

2. Any gifts below $50 must be declared.

3. Gifts above $50 cannot accept (unless civil servants pay for it).

4. Hence the conviction is conforming to the IM - quite a straight forward case.

Jun Ming, [14/10/2024 4:37 PM]

I noticed that the east side is kind of established in mrt lines but the west side currently only east west line and north south line. People staying in the west will tend to affect more of the breakdown is at the western part. Any break down before bouna vista have a devastating effect. So I urge mrt not to breakdown in the area in the west as there's no alternative line before Jurong regional line ls build up

LCL (Danny 心), [14/10/2024 4:39 PM]

I think nobody wants the MRT to breakdown.

But total replacement got lead time.

That's even got money cannot replace if manufacturers still building the MRT train in factory.

Meanwhile, got to beef up alternative means of transport until 2026.

Jun Ming, [14/10/2024 4:45 PM]

And I also notice that the north south line has more newer trains than the east-west line. I am  thinking why don't they equal up the ratio so it wouldn't be that bad? 🤔

LCL (Danny 心), [14/10/2024 4:46 PM]

I also noticed that.

LCL (Danny 心), [14/10/2024 4:47 PM]

But if 2 lines got a mix of old and new, there is a possibility that 2 lines could breakdown together.

Because MRT lines are sequential.

LCL (Danny 心), [14/10/2024 4:47 PM]

I think Smrt strategy is to quickly replace one line one after another.

Adam, [14/10/2024 4:52 PM]

If only we could forsee how much the population grew.

Maybe we couldve built ahead of demand.

Wait why should we even build in anticipation. We need a bto system for mrt. Reserve your place in public transport or pay for private. Solve all crowding issues.

Weirdly enough, in spite of our rock bottom birthrate we are still growing in pop

Adam, [14/10/2024 4:54 PM]

https://www.straitstimes.com/singapore/transport/we-don-t-want-overmaintenance-smrt-chairman-flags-need-to-balance-rail-reliability-with-costs

Adam, [14/10/2024 4:56 PM]

Btw will smrt get fined for service disruption? Telcos get it

Adam, [14/10/2024 4:57 PM]

https://www.straitstimes.com/singapore/transport/smrt-fined-record-54-million-for-july-7-breakdown

Adam, [14/10/2024 4:57 PM]

Wonder how much it will be

LCL (Danny 心), [14/10/2024 5:03 PM]

And I believe red NS line are replaced first because it is older than EW line if I am not wrong.

LCL (Danny 心), [14/10/2024 5:05 PM]

I check Google:- it say NS line started in 1987 - the oldest line.

G, [14/10/2024 5:27 PM]

Because PAP realised it may cost them some votes? 😂 

Weren't they vehemently backing this deal to be pushed through?

Hanny, [14/10/2024 5:29 PM]

If we look at the case of Iswaran, the monetary gain is not significant (I am comparing with corruption at other countries). It’s really sad that ministers can fall into this kind of issue. I would suggest that ministers must go through training so that they truly understand what can fall under bribery. Do it yearly so that they are reminded.

G, [14/10/2024 5:31 PM]

When acts to be amended "urgently".. it just makes it seem like

"Ok maybe the last deal was borderline dodgy, let's amend the act so that it's clean then we can try again"

Not much different from retrospectively amending the constitution to allow for sitting presidents and other political office holders to hold concurrent appointments in foreign bodies, thereby opening up SG to the increased risk of interfering with other countrys' domestic politics 

Rule by law, not rule of law

Hanny, [14/10/2024 5:33 PM]

Retrenchment is every where nowadays, not just Singapore. AI has started to work. Just need to ensure that companies follow the rule of retrenchment. This is a good time for government to boost its marketing effort to enhance people’s capabilities.  The threat and fear are real.

Hanny, [14/10/2024 5:34 PM]

Stick n carrot to make people make that move.

Hanny, [14/10/2024 5:38 PM]

On school bullying, I suggest that moe hires school counselors with the right qualifications. I have a son and I can see the quality of the school counselors is really like day and night at various schools. Some school counselors are just like admin person. No proper qualifications.

LCL (Danny 心), [14/10/2024 5:49 PM]

Now there is a need for Parliament to explain the financial viability of Income since the deal has fall through.

Is Income able to honour all the financial commitment of all the insurance products sold to customers?

Some insurance products are very long haul - stretch up to 30 years.

Some even end of life.

In the event if Income come under financial stress, what remedies does Income have?

Will the government commit funds to support Income financial commitment?

Understand that Income will continue to search for partners to get a better deal.

But meanwhile, customers of Income need to be assured their products invested are protected.

LCL (Danny 心), [14/10/2024 5:53 PM]

In fact this is a more serious scenario compare to the partner alliance hoo-ha that are stem on emotions.

Jun Ming, [14/10/2024 6:00 PM]

A form sg quiz like what the army do shall be good to all civil servants

Jun Ming, [14/10/2024 6:00 PM]

Including minister and president I guess

REACH Singapore, [14/10/2024 6:13 PM]

📢 Topic 📢

REACH Singapore, [14/10/2024 6:50 PM]

Dear Contributors,

⏰ We will be closing the chat in 10 minutes ⏰

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

Goodnight!

Megan 😊

REACH Singapore, [14/10/2024 7:00 PM]

Dear Contributors

We will be closing the chat for today.

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

Goodnight!

Megan 😊

====

REACH (Telegram) 30 -  What are your views on Singapore's anti-money laundering efforts? What more can be done to deter such activities in Singapore?

(SK)

07 Oct 2024 (10am - 7pm)

REACH (Telegram)

REACH Singapore, [7/10/2024 9:49 AM]

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 differnet 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://www.reach.gov.sg/Participate/reach-telegram-group/REACH-Telegram-Group-Chat-Terms-of-Use/

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 😊

REACH Singapore, [7/10/2024 10:00 AM]

The Inter-Ministerial Committee (IMC) on Anti-Money Laundering released their report on 4 October, highlighting measures to clamp down on money laundering.

The committee was set up in November 2023 to look into Singapore’s anti-money laundering framework, following Singapore’s largest money laundering case that involved over $3 billion in property and assets in August last year.

The report made 12 new recommendations focusing on preventing and detecting money laundering, as well as effectively enforcing money laundering laws. They include building data-sharing channels across government agencies to pick up suspicious activity.

💬 What are your views on Singapore's anti-money laundering efforts? What more can be done to deter such activities in Singapore?

📌 Unregulated sectors to be advised on how to identify suspicious transactions

To deter criminals from laundering money through Singapore, unregulated sectors, including dealers of high-value goods, will be advised on how to identify suspicious transactions.

These businesses, currently considered as unregulated dealers, will also be engaged by relevant agencies on how they can refuse to accept large payments in cash for their goods. They will also be advised on how to file a suspicious transaction report (STR).

📌 Strengthen information sharing between Government agencies

Singapore will also strengthen information-sharing mechanisms within government agencies by getting them to communicate more with one another to spot potential crimes more quickly.

One such platform is the newly announced National AML Verification Interface for Government Agencies Threat Evaluation (Navigate), which will be led by the Singapore Police Force (SPF).

Under Navigate, law enforcement agencies and other relevant players will screen against one another’s databases to identify suspicious entities faster.

Navigate will be rolled out in the next few years.

📌 Balancing between being open to businesses and deterring criminal activity

Ms Indranee said one of the main concerns businesses here raised was that the new anti-money laundering requirements would be too tight, and whether conducting business in Singapore would remain easy. 

She added that the recommendations by the IMC were made after many consultations with businesses and the concerns raised were key in helping the IMC navigate its review and come up with the eventual recommendations.

“We have adopted a very calibrated approach, and we are emphasising the recommendations are intended to be just right – not too tight and not too loose. Enough to let in legitimate funds, but keep out illicit funds,” she said.

She stressed that no institution can guarantee keeping out all money laundering activities, and steps put in place to counter the laundering process should not hinder the country’s economy.

“You must be able to let businesses carry on, and you must do that in a way that allows us to still keep out the illicit funds.”

Find the full IMC report here: https://www.mas.gov.sg/news/media-releases/2024/imc-report

Links:

👉🏻 https://www.straitstimes.com/singapore/courts-crime/luxury-high-value-goods-dealers-to-help-spot-red-flags-as-part-of-tighter-anti-money-laundering-measures

👉🏻 https://www.channelnewsasia.com/singapore/anti-money-laundering-finance-banks-real-estate-lawyers-4658631

-----

REACH Singapore, [7/10/2024 11:01 AM]

[ Poll : I am confident that Singapore's anti-money laundering measures are sufficient to deter such criminal activities in Singapore. ]

- Yes

- Maybe

- No

REACH Singapore, [7/10/2024 11:01 AM]

Dear Contributors,

Please take a moment to participate in our polls and share your opinion. The poll questions are pinned for easy reference, and your vote is anonymous.

We look forward to hearing your thoughts on today’s topic!

Thank you.

Megan 😊

REACH Singapore, [7/10/2024 11:54 AM]

Dear Contributors,

We want to HEAR MORE from you!

💬 What are your views on Singapore's anti-money laundering efforts? What more can be done to deter such activities in Singapore?

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

Thank you.

Megan 😊

Hanny, [7/10/2024 1:51 PM]

Money laundering is difficult to eradicate completely. The incentive is just too high.

I would suggest that gov provides good incentives for whistle blowers.

LCL (Danny 心), [7/10/2024 3:17 PM]

1. I feel that money laudering will only affect 2 group of people directly :-

a. Business - eg. Financial institutions (eg. banks, insurance companies, investment companies, foriegn currency exchangers etc), luxuries retailers (eg. high-end properties, high-end cars, jewelleries, expensive watches, antiques, wines, luxury yatch, high-end club membership etc).

b. Population with money to invest.

2. Hence, money laudering efforts should be focus on these 2 groups.

3. Majority of the people with passive income to invest are legitimate investors. Hence balance approach and sensitivity to verify the background of investors are important - else it will offend and chase away legitimate investors --- that will be detriment to Singapore as a financial hub -- to attract legitimate money into our financial institutions -- and contribute to our GDP.

LCL (Danny 心), [7/10/2024 3:40 PM]

1. I realise that many financial institutions and luxury retailers are sensitive, cautious and tactful in verifying with customer investors - when customers are purchasing the wealth products and luxurious goods.

2. Many start with informal small talk to understand the background of the customers and their source of funds.

3. Of course customers even legitimate ones, will not want to disclose too much - because this involve their privacy and sometimes, information are sensitve.

For eg. a customer want to place a wealth product (an insurance product) say with Income.

The source of money come from another insurance company eg. Great Eastern. 

When the Income agent ask the customer where is this source of money come from, a legitimate customer may not want to reveal it is from Great Eastern - because Great Eastern is the direct competitor of Income. This is a moral ethic issue.

4. Hence, I feel that if the activity is not suspicious eg. like a customer come with bags full of cash (indication of money laudering) - but is transfer from a local bank or resident (foreign) banks that can be checked by Government Authorities eg. MAS - financial institutions or luxurious retailer should not be tactless and insensitive to press legitimate customers to reveal the source of funds - if the transaction are transacted through bank transfer or ePayment system - that have audit trail.

Else Financial Institutions and luxurious retailers will be chasing away high-heel legitimate customers - and spoil Singapore reputation as a financial hub - being insensitive and tactless - and make legitimate high-value customers as suspicious elements which can be quite offensive.

5. If financial institutions or luxury retailers believe it is a suspicious case - business can raise a suspicious transaction report (STR) and flag it as a suspicious case - so that Government Authorities can do a background check - through all its linked back-end system after the transaction is completed.

If legitimate, the customer is not offended - and the transaction is deem appropriate and allow to go through.

If indeed the background check reveal the customer is a money lauderer, Authorities can do further investigation and even arrest when evidence that money laudering do take place. This will absolve business from difficulties in conducting its business and responsibilities as long as the business raise the report - and not chase majority of the legitimate customer away.

LCL (Danny 心), [7/10/2024 3:48 PM]

1. I have come across a case - whereby the verification check is conducted very insensitively and offended a long-time legitimate customer with the financial institution.

2. The insurance agent upon check by its internal audit - insist the customer send all screenshots of the customer bank accounts, and all other insurance income source from other financial institutions - after a insurance product is approved, paid and effected.

3. It offended the customer - because as a long time customer of the insurance company and repeat customer of the agent - the insistence is done insensitively and tactlessly.

4. The customer say he will write in to MAS - whether such request is legitimate - as it fringe on moral ethics issue - for releasing all his financial information which is a personal privacy as well as revealing the company competitors financial products to the company which can be used against its competitors.

5. Once the agent reveal the customer impending actions to its internal auditors - the internal auditors stop the request.

6. But the customer has been offended - and in future will stop transacting with this agent - for being insensitive, tactless and inappropriate. Effectively chasing away a legitimate customer.

LCL (Danny 心), [7/10/2024 3:56 PM]

1. In fact, if the internal auditor find the transaction suspicious, they could have just raise a STR - and let the Authority investigate at the background - without being over-reaching and lose a legitimate customer.

2. The agent - being a long-time servicing the customer - lack intelligent, tactfulness and training to convey the legitmacy of this customer background to the internal auditor - to allay the internal auditor verification - as all transactions go through local and resident banks and financial institutions - as with background check through the financial trail - will have reveal that it is a legitimate transaction rather than a money laudering case..

3. Hence, it is important for the Authority and business - to be mindful of carrying out verification and background check sensitively, tactfully ---- and not chase away legitimate customers while safeguarding against money laudering. It will have an undesirable impact on us - as a financial hub --- because which customers will want people to suspect them as criminals when they are not?

4. It may piss off legitimate high heel customers and move their money away to other financial hubs - and we will lose big.

REACH Singapore, [7/10/2024 4:00 PM]

Jun Ming, [7/10/2024 4:09 PM]

I mean sometimes people don't want to reveal their net worth. Like damm rude to see people bank account

LCL (Danny 心), [7/10/2024 4:10 PM]

Exactly.

So business got to be tactful and sensitive.

Else it will offend alot of legitimate customers.

Jun Ming, [7/10/2024 4:12 PM]

That's why people are moving to a decentralised way of transacting. To avoid bank and gov for knowing their net worth. In other countries I heard once your bank account amount reach a certain number they will call you and tax you or fine you a hefty sum of money

Jun Ming, [7/10/2024 4:13 PM]

With the use of VPN and Blockchain to transact how does gov check if they are doing money laundering

Jun Ming, [7/10/2024 4:14 PM]

I pretty sure some luxurious goods can pay by bit coin

LCL (Danny 心), [7/10/2024 4:17 PM]

Even DBS and resident banks are offering Bitcoin and block chain as their wealth products.

I don't know how MAS are going to verify and check this - as they are encrypted.

LCL (Danny 心), [7/10/2024 4:18 PM]

Government are coming up with our own cryptocurrency call project ubin if I am not wrong.

LCL (Danny 心), [7/10/2024 5:32 PM]

心法:

310. I post in REACH (Telegram) LCL (Danny 心), [2/10/2024 1:27 PM] :-

1. I observe the healthcare from effective versus ineffective angle.

2. Effective healthcare is not very cheap as oppose to cheap but not very effective treatment.

3. Nowadays I notice that survival rate for patients are very high, even very critical illness such as stroke, cancer, heart disease and other critical illnesses.

Patients can survive to very old age up to more than 90 over years old.

But treatment is not that cheap.

4. In the earlier days, treatment are cheaper, but on average, the lifespan is about 60 years plus, most cannot survive those critical illness. 

People who can live up to 70 years old are few and far in between.

5. This is the difference between effective versus non-effective treatment that come cheap.

LCL (Danny 心), [2/10/2024 1:31 PM]

1. I notice that rich people from neighbouring countries are willing to fork out alot of money to get treatment in Singapore because of our advanced Medicare treatment, good doctors and medical research for serious and critical illnesses.

And the recovery rate is high.

2. My relatives from neighbouring countries told me so.

For critical illnesses, they rather sought treatment in Singapore, and the survival rate are higher.

----

CNA news 05 Oct 2024 06:00AM (Updated: 05 Oct 2024 08:12AM)

Singapore doctors develop new cell therapy that saved patients from treatment-resistant cancer.

Sixteen patients went into complete remission within a month of the treatment. They previously had a less than 10 per cent chance of survival as the cancer did not respond to chemotherapy and other treatments.

The new cell therapy was developed by researchers and clinicians from the Yong Loo Lin School of Medicine at the National University of Singapore (NUS) and the National University Health System (NUHS).

The treatment has now been published in the medical journal Nature Medicine.

In 2022, a Swiss toddler relapsed. The doctors at St Gallen told her parents that their daughter’s chances of survival were less than 5 per cent.

But one doctor, Dr Jeannette Greiner, refused to give up hope and approached Prof Allen Yeoh in Singapore for help.

When the parents heard of the new treatment, they made an immediate decision to bring Maria to Singapore.

It was amazing. Maria took to the treatment like a fish to water,” said Mrs Schreierer.

After going into remission, she received a bone marrow transplant in Vienna. Today, Maria is back in school again.

“She can finally be a child again,” said Mrs Schreierer.

Australian Mrs Thomas and her husband decided to give it a shot and made the trip to Singapore when she has cancer spreading very quickly when all traditional cancer treatment fail.

In December, she received the CAR T therapy cells and she soon went into remission.

Nine months on, she continues to be cancer-free.

Professor Allen Yeoh, who led the clinical application of this new technology and is head of the Division of Paediatric Haematology and Oncology at NUH’s KTP-NUCMI, said: “While we celebrate this wonderful milestone, we are only at the beginning of this exciting journey.

"Gave me a second life': How Singapore doctors saved this boy from rare cancer with experimental treatment.

With almost no options left, 10-year-old Viet Tai was facing near-certain death from cancer. Today, he is in remission after undergoing a new treatment in Singapore."

The 1st patient to undergo experimental treatment with obvious risk.

But it turn out to be a resounding success and a new treatment in the world against deadly leukemia blood cancer.

https://www.channelnewsasia.com/singapore/boy-rare-cancer-singapore-doctors-nuh-experimental-treatment-first-person-recovery-remission-cure-4659026#:~:text=Gave%20me%20a,treatment%20in%20Singapore.

LCL (Danny 心), [7/10/2024 5:34 PM]

309. I post in REACH (Telegram) LCL (Danny 心), [27/9/2024 6:50 PM]:-

Every stage of economy comes with different economic strategy.

It is not one solution apply to every stage.

LkY realise this and quickly identify his successors when different stage of economy take places.

Not everytime what work during his era works in the next era.

LCL (Danny 心), [27/9/2024 6:54 PM]

If people are close to LkY, he will tell you this privately.

Come computerisation, he leave it to GCT and GCT delegate the role to LHL.

Now come AI, LHL delegate the role to our new PM Lawrence Wong. LHL say he still trying to understand AI.

Every era is different.

----

CNA news

As Singapore moves into the next phase of its Smart Nation journey, the “building blocks” of growth, community and trust will be key, said Prime Minister Lawrence Wong.

In a speech at the Punggol Digital District on Tuesday (Oct 1) to launch the Smart Nation 2.0 initiative, Mr Wong said that this will be a work in progress as digital developments unfold, and as Singapore develops new and better solutions.

Smart Nation was first launched in 2014 under then Prime Minister Lee Hsien Loong. Since then, Singapore has made “significant progress” and this can be felt and experienced in daily living, said Mr Wong.

“We have done well as a Smart Nation. But we must never think that we have arrived. Technology is advancing rapidly, and our operating environment is ever-changing,” he added.

“So we have to keep pace, stay abreast of the latest developments and continually strive to do better.”

Mr Wong noted how the digital landscape today is “vastly different” from a decade ago, with smartphones and social media now the main modes of communication. In addition, there have been recent breakthroughs in generative artificial intelligence (AI), he pointed out.

“All these mean that technology will have an even bigger impact on our lives. There will be tremendous opportunities ahead, but also new uncertainties and challenges to overcome,” Mr Wong said.

“So we must refresh our strategies for Smart Nation.”

LCL (Danny 心), [7/10/2024 5:52 PM]

Currently I will rate the direct verification by business on the high heel customers as "uncomfortable" or "quite insensitive" - because the questions ask give the impression that the customer is a money lauderer suspect on the outset.

I feel that Authority and the business should come together to devise a more sensitive and tactful approach to high heel customers if we don't want to lose them.

I feel a background check will be more appropriate rather than direct questions to customers - that make customers feel like a suspect is a better approach.

Compare to previously before the high profile money lauderer cases are uncovered - the interaction currently is considered "uncomfortable", "intrusive questions fringe on invasion of privacy".

Background check will have reveal the source of funds and majority are legitimate short of few rare cases.

Wonder why make the majority uncomfortable?

LCL (Danny 心), [7/10/2024 5:58 PM]

In layman term, it is akin to:-

1. Customer like your product, I want to buy.

2. Business 1st question is:- where did your money come from?

Your money clean or not?

Answer me.

3. Customer got to reassure the business, my money is clean.

I earn the money from my jobs with tears and sweat.

I swear, you got to believe me.

4. Business say, ok I believe you on the face value, I do you a service, and sell my product to you.

This is the impression that high heel customers get when buying products.

Anyone think customers will feel offended or not when subject to such humiliation?

LCL (Danny 心), [7/10/2024 6:00 PM]

A background check will have avoided all these uncomfortable situation.

REACH Singapore, [7/10/2024 6:01 PM]

LCL (Danny 心), [7/10/2024 6:03 PM]

It is akin to:-

1. I let you earn money.

2. You treat me like a suspect.

I think such impression should not be created.

3. And the business will throw up their hands in despair - say "mas, mas".

Wee Seng Koh, [7/10/2024 6:23 PM]

Singapore anti-money laundering efforts

- With no relative comparison but only the recent billion dollar incident, I agree that past efforts weren’t enough to pick up such criminal activities. 

What more can be done?

- As a layman, without regulatory background, it is unfair for me to comment what is enough to be done. There isn’t enough data or local case studies (that hits the news headlines or discussed in parliament) to comment fairly. Perhaps, because there isn’t enough suggest, that either 1) cases of such nature are low or 2) such cases have YET to be discovered. 

With the use of threat evaluations, individuals and businesses can only place trust that it does not censure sincere honest investment. 

My 2 cents worth, can only afford that quick reviews / updates can be made to help sharpen the evaluations. Not over long periods.

🦒, [7/10/2024 6:33 PM]

Unregulated sectors has no incentives to report though.

🦒, [7/10/2024 6:33 PM]

Bear bricks, Rolex watches, all used to launder money

🦒, [7/10/2024 6:34 PM]

Cryptocurrency as well, I think the new act need to show how to clamp down these things.

REACH Singapore, [7/10/2024 6:45 PM]

Dear Contributors,

⏰ We will be closing the chat in 15 minutes ⏰

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

Goodnight!

Megan 😊

REACH Singapore, [7/10/2024 7:01 PM]

Dear Contributors

We will be closing the chat for today.

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

Goodnight!

Megan 😊

====

 *平常心*

5 Oct 2024

平常心，就是清净心。

有了清净心，就有了正念。

有了正念， 就有了正定。

有了正定， 就有了智慧。

有了智慧， 就有了慈悲。

有了慈悲， 就有了功德。

修平常心，就是修一辈子的功德。

功德圆满，涅槃生。

----

This is the best antidote to mental stress, mental anxiety and depression.

In fact way of life that can gain Enlightenment.

Living in the present moment.

Devoid of anger, greed, ignorance and all negative thoughts.

----

1. Yesterday, after having lunch in a foodcourt, a family with parents, an aunt and 2 toddlers sit beside me.

2. I was reading news artticle and quietly seeping coffee.

3. The elder daughter is still manageable.

4. But the youngest boy is really unmanageable. He insist on the way how he eat and insist his aunt pour plain water into the bowl with fried noodle.

And when his mother tell him not to do it, he quarrel with his mother (imagine a toddler less than 6 years old doing this). And when his father turn to educate the son, the son scold back.

And many small small things crop up, making the lunch for 1 hour - quite unbearable -- imagine sitting just beside them.

His father finally walk out when he quickly finish his lunch, letting his mother and aunt to educate him.

5. I was initially quite disturb by them, and frustration and anger do arise - then I realise parenting not easy. Toddler also not easy to handle, easily emotional and need alot of effort to handle.

6. Then I turn into "平常心" - Living at the present moment.

a. I just be mindful, concentrate on reading my news in my handphone and seeping my coffee (Living at the present moment) - and mentally cut off from the noise and disturbance

b. When the noise is too unbearable, I just turn to look at them with Compassion, and when they sense they are disturbing me, they tone down their noise.

c. And then I just mindful of any stray thoughts that arise - noting my mental states - frustration, anger, impatient --- and not react to them and see all these negative states dissipate --- ie. Living at the Present Moment "平常心" - and then concentrate on reading my news in my handphone and seeping my coffee.

d. When I repeat that a few time --- I notice my mind and 心 - quite peaceful, serene 清静 despite the extreme turbulence just beside me。

And I realise and accomplish the following :-

*平常心*

平常心，就是清净心。

当有了清净心，就有了定力。

有了定力， 就有了智慧。

有了智慧， 就有了慈悲。

有了慈悲， 就有了功德。

修平常心，就是修一辈子的功德。

功德圆满，涅槃生。

e. So 修心， 修行 - is what this is all about - Living at Present Moment in every day life - Calming our Mind - whatever the external environment outside.

(Not just sitting to meditate or 念佛 - is 修心， 修行 ). One day suddenly, there will be a 顿悟 - Enlightenment suddenly is attained from this accumulated 渐悟 - cumulative 功德.

----

Mindfulness Meditation - & 3 extraordinary events

Event 1

1. Do Mindfulness Meditation in the Medicine Buddha Temple at Clementi.

2. Thunderstorm and heavy rain - cause an extended zinc roof that cover the kitchen to collapse and fly into the Meditation Hall.

3. I was meditating at the back (last 1/4 mark) of the Meditation Hall facing the Medicine Buddha and 2 Bodhisattvas (Sun and Moon Bodhisattvas).

4. The long zinc roof fall right in front of me and cover 3/4 of my right side of the Meditation Hall - just 2 feet in front of me with a loud bang.

5. I open my eyes, saw the collapse zinc roof in front of me.

6. But at that time my Mind and Heart in complete Serenity and Calmness 清净 - 平常心 - 活在当下, 如如不动。

7. A thought went through my mind - if my karma is bad - then it will fall on my head.

But since it did not fall on my head, that means my karma is good - and it helps me to realise 因果。

8. As my mind is at 清净 state, there are no fear, no worry in complete calmness, I close my eyes again and continue my Mindfulness Meditation on the present moment 平常心 - 活在当下, 如如不动。

9. Then at the background, I seems to hear someone walk down from the office upstair (could be Temple Administrator) to check what happen.

10. Then the person stop and I believe visually inspect what is going on.

11. After a while, I roughly hear the person tiptoe and walk back upstair to the office - and probably check what is going on in the CCTV.

12. I continue my meditation until my alarm clock sounds - to indicate I have completed my meditation routine and I bow, pray and pay respect to the Buddha and Bodhisattvas - before I drive back to my office after lunch.

13. I guess the Temple Administrator could have use the CCTV footage to demonstrate to the mediation class what is Mindfulness 清净 - 平常心 - 活在当下, 如如不动 - oblivious to the extreme turbulence outside.

_Event 2_

1. Do Mindfulness Meditation at IMM at a garden just outside the mall.

2. Thunderstorm and heavy rain - and a thunder and lightning suddenly strike near my resting hut.

3. A man resting at another resting hut 10 metres away get startled and jump up - and bolted at high speed back into the mall.

4. Again I open my eyes to see what is going on.

5. But at that time my Mind and Heart in complete Serenity and Calmness 清净 - 平常心 - 活在当下, 如如不动。

6. The same thought went through my mind - if my karma is bad - then I will be strike by the lightning.

But since it did not, that means my karma is good - and it helps me to realise 因果。

7. As my mind is at 清净 state, there are no fear, no worry in complete calmness, I close my eyes again and continue my Mindfulness Meditation on the present moment 平常心 - 活在当下, 如如不动。

8. I continue my meditation until my alarm clock sounds - to indicate I have completed my meditation routine and I walk back to my office after lunch.

9. This is what Mindfulness 清净 - 平常心 - 活在当下 , 如如不动 - oblivious to the extreme turbulence outside.

_Event 3_

1. Do Mindfulness Meditation in the Ta Bei Temple at Lavender - the place that I learn basic Buddhism and the place my Master taught me Meditation.

2. I was in the middle of meditation when suddenly I realise someone walk to the Meditation Hall that can accomodate 500 to 1000 people - to switch on the aircon.

3. I open my eyes, the whole hall is empty and the main aircon will only be switched on when there are big events.

4. But this time, I saw the Master Nun (主持) switch on the aircon just for me.

5. I feel grateful, honour and paiseh - & I quickly close my eyes and continue my meditation.

6. I continue my meditation until my alarm clock sounds - to indicate I have completed my meditation routine and then I do walking meditation before I drive off.

----

Note :- 99% of the people will run away when zinc roof collapse or lightning strike - because cannot be foolish to let disaster struck.

But there are 2 groups of people that will not run away:

1. 0.5% of the people who have suicidal thoughts.

2. 0.5% of the people who have attained Emptiness - no self 无我。Understand 因果 karma, and know 一却有唯法，如梦幻泡影 all external events are illusion.

So do run away if disaster struck.

I just want to illustrate what is 清净 - 平常心 - 活在当下, 如如不动。

But don't emulate.

=====

REACH (Telegram) 29 - What are your views on the refreshed Smart Nation 2.0’s vision and plans? How can we continue to ensure a safe and secure digital space for Singaporeans as we continue our digitalisation efforts?

(SK)

03 Oct 2024 (10am - 7pm)

REACH (Telegram)

REACH Singapore, [3/10/2024 9:46 AM]

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 differnet 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://www.reach.gov.sg/Participate/reach-telegram-group/REACH-Telegram-Group-Chat-Terms-of-Use/

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 😊

REACH Singapore, [3/10/2024 10:01 AM]

📢 Topic 📢

Prime Minister Lawrence Wong launched Smart Nation 2.0 on Oct 1. He said that in this next phase, Singapore needs to focus on the "three building blocks" of growth, community and trust, going beyond the focus on digitalisation in the first Smart Nation plan launched in 2014. 

Smart Nation 2.0 includes plans to equip scientists and students with artificial intelligence (AI) know-how and provide swifter remedies to victims of cyber bullying and deepfakes.

💬 What are your views on the refreshed Smart Nation 2.0’s vision and plans? How can we continue to ensure a safe and secure digital space for Singaporeans as we continue our digitalisation efforts?

📌 New $120 million AI for Science grant 💰

Led by the National Research Foundation, this new grant aims to enhance scientific research by promoting AI proficiencies among researchers in public institutions. This adds to the more than $500 million already invested in AI projects through national research programme AI Singapore.

📌 AI for Fun coding modules 💻

Starting in 2025, primary and secondary schools will roll out new AI for Fun coding modules under the “Code For Fun” (CFF) programme. This initiative will offer students opportunities to tinker with AI technology. 

📌 Smart Nation Educator Fellowship 🖊️

The fellowship will be available to educators who shape the national curriculum to expose them to the latest trends and issues in the digital space.

📌 New Singapore government agency to tackle online harms 👥

A new Singapore government agency would also be established to help victims quickly put a stop to “online harms”. The agency will act on behalf of victims to order perpetrators and online service providers such as social media platforms to stop the online harm. 

📌 Digital inclusion as a big theme 🫂

Singapore will double down on outreach efforts to ensure that more citizens, including seniors, learn to use digital skills with confidence, though key services will continue to be available over physical counters. Government-linked active ageing agency Council for Third Age (C3A), will also develop over 180 courses to help seniors improve their digital proficiencies.

🔗 https://str.sg/kAQP

🔗 https://www.channelnewsasia.com/singapore/smart-nation-20-launch-growth-community-trust-building-blocks-refreshed-strategies-pm-wong-4651876

🔗 https://www.smartnation.gov.sg/sn2/

----

REACH Singapore, [3/10/2024 10:51 AM]

Dear Contributors,

We want to HEAR MORE from you!

💬 What are your views on the refreshed Smart Nation 2.0’s vision and plans? How can we continue to ensure a safe and secure digital space for Singaporeans as we continue our digitalisation efforts?

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

Thank you.

Megan 😊

G, [3/10/2024 10:54 AM]

12 months sentence!

https://www.channelnewsasia.com/singapore/iswaran-sentencing-former-singapore-minister-guilty-court-live-4653961

REACH Singapore, [3/10/2024 11:13 AM]

📢 Former Transport Minister Iswaran sentenced to 12 months’ jail

https://www.straitstimes.com/singapore/courts-crime/iswaran-sentenced-to-12-months-jail-judge-says-former-minister-abused-position-to-accept-gifts

REACH Singapore, [3/10/2024 11:21 AM]

[ Poll : I am confident that the new initiatives outlined in Smart Nation 2.0 will support Singaporeans in navigating the challenging digital landscape today. Please share the reason for your answer in the chats! ]

- Yes 👍

- No 👎

- Maybe 😏

LCL (Danny 心), [3/10/2024 12:39 PM]

*Growth, Community and Trust*

1. Digitalisation effort, notably this new era of AI is a very big topic because it covers not only all economic industrial sectors, it also covers community, social, entertainment, communication and eTransaction between business-to-people, government-to-business, government-to-people - as our ways of life.

2. Hence, digitalisation, AI thrust to promote our Economic Growth, Community engagement and Trust in Digital Platform - become critical to our population as a Society and Economy.

LCL (Danny 心), [3/10/2024 12:57 PM]

*Trust*

1. Notably, let us address eTransaction digitally online - against scams.

2. Banking and Financial transactions are the most critical components in Digitalisation - and scammers have scam many innocent victims of their life savings through social engineering, phishing, trickery, and other online baits.

3. Hence, one aspect of security is to ensure that a digital user identity in accessing online banking and online financial transactions - must be appropriately authenticated - that the person is the real owner of the bank account doing the eTransaction and not a scammer.

4. I am happy to read that local banks or resident banks in Singapore will be using SingPass with biometric authentication (prevented against masquerading by scammers) via Liveliness verification to establish the real identity of the bank users in banking and eTransaction.

5. Understand that there are about 10 anti-spoofing biometric security measures identified against stealing of biometric data, man-in-the-middle attack, masquerading and other security attacks.

I believe extensive and deep R&D have been conducted to reinforce the security and safety in the use of biometric authentication to ensure it is fail-safe.

(Note :- Biometric data to each individual is an important and critical data unique like a DNA to each person. It must not be stolen, because once lost, the person identity will be compromised forever until end of life and no way to change the biometric data like changing password - as a person need to reborn with a new set of biometric data - facial, fingerprint, palm print, audio, iris, DNA etc.)

6. Hence I understand that biometric data will not be collected by banks but keep in the highly secured database with the Government through authentication via SingPass biometric authentication.

7. Hopefully, extensive education must be conducted with the population - not to give away their biometric data to business, scammers, or other people frivolously with baits of free gifts, money or other baits - because once their biometric data are given away frivolously, scammers may be able to misuse them to do bank transactions and steal their life savings.

8. Because we will never know how ingenious scammers can be. Even with AI, scammers can counter AI with GAN for example (Generative Adverserial Neural Network) and other equivalent counter-measures to improve biometric authentication and liveliness from stolen biometric data baring the anti-spoofing biometic security measures are developed and in place to prevent such scamming techniques from getting through.

LCL (Danny 心), [3/10/2024 1:07 PM]

9. Another initiative by Government to establish a Government Agency to act immediately to work with Social Media Platform to take down and block undesirable AI content such as deepfake and other digital content of victims without the need to go through Court Process --- will be an effective means to curb digitalisation and AI harm by scammers, hackers and cyberbullies.

10. This is a more effective and cost effective means to combat online crimes - and protect online victims - that can cause psychological and physical harms to the victims if not immediately address.

Court process will take too long, burn a big hole in the pocket of victims and perpretators can go away scot free when due process are being carried out.

Jun Ming, [3/10/2024 1:19 PM]

I hope it's not a short programme, it a semester long programme or year long programme where students expected to create a product out

Jun Ming, [3/10/2024 1:20 PM]

Or code something out for themselves

LCL (Danny 心), [3/10/2024 1:28 PM]

*Growth*

1. I feel that as we grow and attract foreign investors to build Data Centres for AI, Cloud and digitalisation in our City - to be an IT hub, AI hub, Cloud hub -- there come a point that we will reach a saturation point. Singapore has already attracted large amount of data centres investors and is already a Data Centre Hub - but land spaces, power supply and water supply is reaching a saturation point and will be severely challenge by more traditional data centres.

2. Because supporting Data Centres, notably Data Centre for AI need plenty of land spaces, also need large amount of water supply to cool the Data Centres and tremendous amount of power supply.

3. In one recent report:-

"OpenAI reportedly wants to build 5-gigawatt data centers, and nobody knows who could supply that much power".

Power require for 1 major city, 100 times the requirements of a normal DC, equivalent to 5 nuclear reactors production of energy and tremendous amount of water supply needed.

 https://fortune.com/2024/09/27/openai-5gw-data-centers-altman-power-requirements-nuclear/#:~:text=OpenAI%20reportedly%20wants%20to%20build%205%2Dgigawatt%20data%20centers%2C%20and%20nobody%20knows%20who%20could%20supply%20that%20much%20power 

4. The whole of Singapore power grid - will not be able to provide such mammoth amount of power just to run OpenAI data centre.

5. Hence, Malaysia is sucking up many data centres investment from Big Tech, the latest being :-

Oracle to invest more than US$6.5bil in AI and cloud computing in Malaysia.

https://www.thestar.com.my/business/business-news/2024/10/02/oracle-to-invest-more-than-us65bil-in-ai-and-cloud-computing-in-malaysia

6. Hence, Singapore strategy will need to attract more high value added "Green Data Centre" that uses lesser land spaces, green power and lesser water ---- the "Hardware" aspect.

7. By constantly attracting "Hardware" Data Centre is not sustainable - as it will reach a saturation point due to infrastructure constraints, notably - run out of land spaces, power and water.

8. Hence, our main strategic focus on AI, Cloud, Digitalisation --- will have to focus on "Software" - R&D on AI, software development on Cloud, Digitalisation, CyberSecurity.

Data Centre is useless - without software, apps, cybersecurity and AI development and R&D.

9. Hence I support the Government initiatives and grants to focus on AI R&D development and digitalisation.

10. In addition, all our Economic Industrial sectors should explore how to exploit AI and digitalisation and cybersecurity to expand, grow and support their business into a new area of growth.

Other than our domestic efforts, our business should also look at overseas Countries - notably developed Countries which have exploited AI and digitalisation in their respective industrial sectors - so that we can catch up if we have fallen behind.

11. I am confident Singapore can grow very well with AI and digitalisation - as we are already very advanced compare to many Countries.

But I think we can do even better and more securely.

REACH Singapore, [3/10/2024 2:01 PM]

📢 Former Minister Iswaran sentenced to 12 months' jail for obtaining valuables worth S$403,300, obstructing justice

https://www.channelnewsasia.com/singapore/iswaran-jail-12-months-sentence-section-165-gifts-obstructing-justice-transport-minister-4654161

REACH Singapore, [3/10/2024 2:01 PM]

📢 Topic 📢

LCL (Danny 心), [3/10/2024 2:19 PM]

*Users of GAI - Generative AI*

1. Users who use GAI in their work or social settings - must always guard against pitfalls from GAI and not assume GAI will always provide the correct answers.

2. Notably the pitfalls of GAI are:-

a. Hallucinations - that is GAI invent answers that is not the right answer.

b. Not up to date information ie. Outdated information.

3. Most of the time, users must always double check and verify information from other sources eg. Google search.

4. For users that use GAI to generate programming codes or source codes configuration - users must check all the codes, run it and thoroughly test it with all rounded test cases.

5. Most if not all the time, there is a need to refine the source codes to make it work.

6. Hence GAI should be seen as a productivity tool and not a replacement of human workers.

7. Boss must know this.

8. Workers must also know this.

LCL (Danny 心), [3/10/2024 2:32 PM]

Hence in future, when quoting GAI as the information source, quote such as:-

Source:- xxxxx GAI

Verified by :- Google or media source or Source code refine by xxxx Software Engineer 

Will be a more credible trusted source.

REACH Singapore, [3/10/2024 4:03 PM]

📢 Topic 📢

G, [3/10/2024 5:13 PM]

How acceptable is it for REACH to continue to take in comments that are AI / bot generated?

Are they true reflections of Singaporean views?

How much of such AI / bot generated views has REACH used?

LCL (Danny 心), [3/10/2024 5:23 PM]

Just to assure my experience with REACH is more than 2 decades.

All my above comments come from my brain.

Not AI generated or bots.

REACH can type in prompts to check and verify whether is it AI generated on all the comments make here or it come from human brain.

LCL (Danny 心), [3/10/2024 5:26 PM]

My credentials - I have plan, design and implemented more than 10 data centres infrastructure and no less than 50 large scale projects.

Within Singapore and overseas crossing all the main continents - US, Africa, Middle East, Asia Pacific, Central Asia (ex Soviet Union).

REACH Singapore, [3/10/2024 5:32 PM]

📢 Why was Iswaran handed a one-year jail sentence? Key points from judgment

https://www.straitstimes.com/singapore/why-was-iswaran-handed-a-one-year-jail-sentence

LCL (Danny 心), [3/10/2024 5:33 PM]

And if copy from AI, I will quote the source.

So since no source quoted - it come from my brain.

Not AI generated GAI.

LCL (Danny 心), [3/10/2024 6:00 PM]

Also have make presentation to some Ministers and MOS in some topics in town hall session or through zoom video conferencing.

The latest being the money lock with Minister IT and biometric authentication with Minister assigned Ministry officer.

So rest be assured, whatever written come from a human not AI.

REACH Singapore, [3/10/2024 6:03 PM]

📢 Topic 📢

G, [3/10/2024 6:10 PM]

Perhaps REACH can also let us know what the value is to a govt feedback channel on accepting copy and pasted AI generated content for feedback purposes.

Nobody knows who really controls the AI and the algo/learning that was used to train the AI. And where does that line whereby AI generated answers become foreign interference in domestic politics?

LCL (Danny 心), [3/10/2024 6:12 PM]

That's why, we need human brain to do critical thinking.

LCL (Danny 心), [3/10/2024 6:14 PM]

Even without AI, if human don't do critical thinking - foreign interference will still happen - whether AI or no AI.

LCL (Danny 心), [3/10/2024 6:15 PM]

Our government have many smart people around.

They know if the ideas are workable or not workable.

G, [3/10/2024 6:25 PM]

If your ideas are really good, you don’t need to talk about your accomplishments to support your ideas

If you have to, it speaks poorly of your ideas, if you done so, it speaks poorly of you

LCL (Danny 心), [3/10/2024 6:28 PM]

Oh there is no need for me to seek praise.

Good one government will adopt and benefit the people.

If not idea set aside.

No hard feelings.

But just want to correct the inneundos that the long comments are AI generated or BOT generated that you have mentioned a few times.

It is to clear the air.

Plagiarism is not a wholesome practice, a dishonest practice if without quoting the source and claim is my own, and I need to clear this.

LCL (Danny 心), [3/10/2024 6:31 PM]

Anyway, there are software that can detect AI generated content.

It is used by universities and I believe government also is using this.

So no worries if people are wary that comments are human made or AI generated.

G, [3/10/2024 6:34 PM]

So this is the foreign interference concern regarding AI usage:

Many readily available and popular AI bots (e.g. meta via WhatsApp) were developed by foreign organisations with leftist , communist leanings, and very much pro LGBTQ, pro abortion, pro mass immigration etc. As seen from the COVID years, these organisations were also very active in online censorship to protect a pro jab, pro big pharma narrative to the point it became cultish.

As a Singaporean concerned on the security and sovereignty of Singapore, this is a big red flag. Foreign interference in domestic politics is becoming or even has become so subtle

REACH Singapore, [3/10/2024 6:46 PM]

Dear Contributors,

⏰ We will be closing the chat in 15 minutes ⏰

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

Goodnight!

Megan 😊

G, [3/10/2024 6:52 PM]

By allowing and continuing to allow so much AI bot generated content (from meta and other leftist leaning organisations) here in REACH, how much is REACH complicit in allowing subtle foreign interference in domestic policies in this govt feedback group?

REACH Singapore, [3/10/2024 6:59 PM]

Dear Contributors

We will be closing the chat for today.

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

Goodnight!

Megan 😊

====

REACH (Telegram) 28 - What are your views on MOH's moves to enhance healthcare subsidies to improve healthcare affordability?

(SK)

02 Oct 2024 (10am - 7pm)

REACH (Telegram)

REACH Singapore, [2/10/2024 9:45 AM]

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 differnet 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://www.reach.gov.sg/Participate/reach-telegram-group/REACH-Telegram-Group-Chat-Terms-of-Use/

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 😊

REACH Singapore, [2/10/2024 10:01 AM]

📢Topic📢

From 1 Oct, up to 1.1 million Singapore residents will benefit from higher healthcare subsidies at public hospitals, specialist clinics and for MediShield Life premiums. 

Health Minister Ong Ye Kung announced on 30 Sept that subsidies will be extended to people from households with higher incomes. Subsidy rates for community hospitals and palliative care will also be raised to match those at acute hospitals. 

💬What are your views on MOH's moves to enhance healthcare subsidies to improve healthcare affordability?

📌REVISED MONTHLY PER CAPITA HOUSEHOLD INCOME (PCHI) THRESHOLDS

The monthly PCHI means-testing threshold for each subsidy tier will be raised by $100 to $800. This means more Singapore residents will qualify for higher subsidies. For example: 

a. The PCHI for the highest MediShield Life health insurance premium subsidy will go up from $1,200 to $1,500. 

b. The PCHI for the Community Health Asist Scheme (CHAS) Blue card will be raised from $1,200 to $1,500. 

c. The PCHI for the maximum subsidies for drugs will be increased from $2,000 to $2,300. 

📌ENHANCED COMMUNITY HOSPITAL SUBSIDIES

The community hospital inpatient subsidies will be aligned with that of acute hospitals. With the enhanced subsidies, Singapore Citizens will minimally receive subsidies of 50%, up from the current 30%. 

📌ENHANCED PALLIATIVE CARE SUBSIDIES

Similarly, all Singaporeans will receive subsidies of at least 50% regardless of their monthly PCHI. The qualifying PCHI for the highest subsidy will be raised from $800 to $2,100. 

From 1 Dec, the list of subsidised diagnostic services at community hospitals will also be progressively expanded and eventually align with those at acute hospitals.

👉 https://www.straitstimes.com/singapore/up-to-11m-singapore-residents-will-receive-higher-healthcare-subsidies-from-oct-1-ong-ye-kung

👉 https://www.channelnewsasia.com/singapore/ministry-health-higher-subsidies-oct-1-community-acute-hospitals-4649061

----

Adam, [2/10/2024 10:07 AM]

If everyone get it, where is the money coming from?

REACH Singapore, [2/10/2024 11:00 AM]

[ Poll : Are the increases in subsidies effective in helping Singaporeans manage healthcare costs in the short to medium term? ]

- The increase in subsidies will be effective.

- The increase in subsidies will be somewhat effective. More can be done (pls share your views below)

- The increase in subsidies will be ineffective. A lot more can be done (pls share your views below)

G, [2/10/2024 11:02 AM]

Instead of always trying to "show that they care" by increasing subsidies, what's this 4G PAP doing to keep costs low so that subsidies are not needed in the first place?

Subsidies mean it's tax payer funded. Don't want tax to keep increasing and thus increasing cost of living

REACH Singapore, [2/10/2024 11:07 AM]

Dear Contributors,

Please take a moment to participate in our polls and share your opinion. The poll questions are pinned for easy reference, and your vote is anonymous.

We look forward to hearing your thoughts on today’s topic!

Thank you.

Megan 😊

REACH Singapore, [2/10/2024 12:16 PM]

Dear Contributors,

We want to HEAR MORE from you!

💬 What are your views on MOH's moves to enhance healthcare subsidies to improve healthcare affordability?

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

Do also share your opinion by participating in our polls! The poll questions are pinned for easy reference, and your vote is anonymous.

Thank you!

Megan 😊

Adam, [2/10/2024 1:05 PM]

The thing is, the understanding is we contribute to our own healthcare. Maybe we can call it a social compact. We can see this in medisave. We contribute to our medisave through our working adult lives so that we can pay for our own health cost when we need it most, ie when old.

Lets say we have new program. We can assume we will have to pay more tax for this. Every working person has to. Palliative seems to be a focus point. Did the ones who benefit most contribute to new shared cost in their working years? How about people who are irresponsible through smoking or diet? Am also subsidizing through taxes? When the population pytamid becomes inverted who is gonna pay to the system or is the new generation of singaporeans gonna support us?

There is a reason why we have to pay at least a bit to prevent buffet syndrome. The gov has to think why our healthcare is so expensive. Is it supply of docs? Drug companies overchaging?

Adam, [2/10/2024 1:09 PM]

Why is medisave insufficient? Is the growth of our medisave being massively outpaced by hralthcare inflation? Perhaps we need to rethink hiw its handled.

Jun Ming, [2/10/2024 1:11 PM]

I don't have medisheild life

Adam, [2/10/2024 1:11 PM]

Isnt it mandatory?

Jun Ming, [2/10/2024 1:12 PM]

I think I only have the basic medi shield

Adam, [2/10/2024 1:13 PM]

Yeah thats what we all have

Jun Ming, [2/10/2024 1:16 PM]

My yearly premium is about 200+

Adam, [2/10/2024 1:16 PM]

Supposedly this subsidy is external to medishield premium

Adam, [2/10/2024 1:16 PM]

That means its paid through taxes, not premium

Adam, [2/10/2024 1:17 PM]

As premiums are based on age band it means the older generation gets the most benefits while the working age funds the subsidies

LCL (Danny 心), [2/10/2024 1:27 PM]

1. I observe the healthcare from effective versus ineffective angle.

2. Effective healthcare is not very cheap as oppose to cheap but not very effective treatment.

3. Nowadays I notice that survival rate for patients are very high, even very critical illness such as stroke, cancer, heart disease and other critical illnesses.

Patients can survive to very old age up to more than 90 over years old.

But treatment is not that cheap.

4. In the earlier days, treatment are cheaper, but on average, the lifespan is about 60 years plus, most cannot survive those critical illness. 

People who can live up to 70 years old are few and far in between.

5. This is the difference between effective versus non-effective treatment that come cheap.

LCL (Danny 心), [2/10/2024 1:31 PM]

1. I notice that rich people from neighbouring countries are willing to fork out alot of money to get treatment in Singapore because of our advanced Medicare treatment, good doctors and medical research for serious and critical illnesses.

And the recovery rate is high.

2. My relatives from neighbouring countries told me so.

For critical illnesses, they rather sought treatment in Singapore, and the survival rate are higher.

Jun Ming, [2/10/2024 1:32 PM]

Effective health care can be cheap if you 治未病

Jun Ming, [2/10/2024 1:32 PM]

If the sickness is mild and get it cure it can be very cheap

LCL (Danny 心), [2/10/2024 1:33 PM]

If mild, go for cheaper treatment.

Jun Ming, [2/10/2024 1:33 PM]

And if you do 养生in the very young age the chances of getting sick is less

Jun Ming, [2/10/2024 1:34 PM]

That's why I feel that gov should put more effort in preventing and 养生

Adam, [2/10/2024 1:34 PM]

The type of illness these subsidies are for isnt for your average cold

Adam, [2/10/2024 1:34 PM]

PALLIATIVE CARE

Adam, [2/10/2024 1:35 PM]

These is subsidies to extend and support terminally ill's life until they die

Jun Ming, [2/10/2024 1:35 PM]

With so many insurance outside right especially early critical illness package I wonder what is the difference between medisheild and ecI

G, [2/10/2024 1:36 PM]

I do think the drug companies overcharging may play a significant role. 

MNCs are known to charge countries according to how much they think they can squeeze out of that country. e.g. football on TV, covid jabs etc.

What would be unacceptable is that SG already open the legs to get pharma companies to set up manufacturing plants in Tuas. So the drug manufacturing is already in the country. If this leads to increased drug prices to our MOH system, it's quite stupid isn't it?

Then what for get these pharma companies here?

Adam, [2/10/2024 1:37 PM]

So why is the gov making this in the form of subsidies instead of insurance? Because the demographic simply cant afford the insurance. They have to get the demographic who are at the prime of their life pay into the system

Adam, [2/10/2024 1:37 PM]

This will not be sustainable with our declining birthrate and will squeeze our young over time

Jun Ming, [2/10/2024 1:40 PM]

I  heard that doc needs to listen to drugs company when prescribing medicine idk if it is true

Jun Ming, [2/10/2024 1:41 PM]

I don't even sure if doctor knows what is inside the medicine to control the sickness

Jun Ming, [2/10/2024 1:43 PM]

Cause I always see doctor changing medicine. Especially high blood pressure

G, [2/10/2024 1:43 PM]

Yes. Pharma sales direct to doctors is quite a market in SG. Furthermore one of the most convenient things doctors can do upkeep their license is to attend "events" hosted by these very pharma companies whereby they share more about their drugs

G, [2/10/2024 1:51 PM]

We give pharma MNCs tax breaks to set up their manufacturing facilities in SG.

If they overcharge us for drugs for our national healthcare system, requiring us to raise taxes so that subsidies can be raised to make healthcare more affordable for everyone, then why not just remove the tax breaks from these pharma companies and make them pay their fair share so that healthcare remains affordable?

G, [2/10/2024 1:53 PM]

This brings about the question: is it still profitable if the medicine actually healed someone from disease, or will it be profitable if the medicine makes someone dependent on the medicine?

G, [2/10/2024 1:53 PM]

A patient cured is a customer lost

Jun Ming, [2/10/2024 1:54 PM]

So medicine should not be associate with business

Jun Ming, [2/10/2024 1:57 PM]

My teacher in TCM college says last time doctors are 道医，儒医 now is 商医

REACH Singapore, [2/10/2024 2:01 PM]

📢Topic📢

Jun Ming, [2/10/2024 2:01 PM]

As doctors should be ultra smart people that not only take care of patients health but also patients pockets

G, [2/10/2024 2:01 PM]

TCM doesn't have this maximising profit for shareholder mentality, which is good 👍

G, [2/10/2024 2:03 PM]

Where got.. Many doctors go into the profession because they can make big money for themselves what. They take care of their own pockets first. So many parents in the past (and even today too) want their kids to become doctors so that they can be rich

Also, why else why you see so many aesthetic doctors nowadays?

Wee Seng Koh, [2/10/2024 2:26 PM]

Views on MOH’s moves to enhance healthcare subsidies to improve healthcare affordability.

- subsidies are important not just for the below median pay group, but across for all. Particularly extending the needs to community hospitals and palliative care. These are concrete evidence from early this year’s budget announcement. 

- this is for Singaporeans and Singaporeans only, and this is the most important.

Nicholas, [2/10/2024 2:29 PM]

Do healthcare prices need to be so high? Is there a team looking into how to reduce healthcare prices for the end consumer?

REACH Singapore, [2/10/2024 3:01 PM]

Dear Contributors,

Please take a moment to participate in our polls and share your opinion. The poll questions are pinned for easy reference, and your vote is anonymous.

We look forward to hearing your thoughts on today’s topic!

Thank you.

Megan 😊

LCL (Danny 心), [2/10/2024 3:42 PM]

1. Higher subsidies applying to higher income as well as middle and lower income for healthcare is a welcome move.

2. Because higher income group also subject to :-

a. higher inflation that deplete their take home pay.

b. higher income group also face more headwinds in tech and business disruptors like the middle and lower income group - when retrenchment can be quite sudden.

c. higher income group contribute to the largest part of taxes to Singapore government budget - and most middle and lower income group benefit from it. 

Hence, subsidies extended to help the higher income group when they need healthcare intervention in addition to middle and lower income group is morally sound - in an all inclusive policy when the government can afford it.

3. I support this healthcare policy.

LCL (Danny 心), [2/10/2024 5:27 PM]

https://www.straitstimes.com/business/companies-markets/samsung-to-cut-thousands-of-jobs-some-in-singapore-amid-struggles-in-ai-market

LCL (Danny 心), [2/10/2024 5:28 PM]

Dyson conducts 'surprise' layoffs in Singapore, leaving employees in shock and in 'low morale'.

The retrenchment exercise on Tuesday (Oct 1) was conducted “very discreetly”, with employees unsure how many were laid off.                                                                                                                               https://www.channelnewsasia.com/singapore/dyson-singapore-layoffs-retrench-job-cuts-4651606

LCL (Danny 心), [2/10/2024 5:29 PM]

See job market not very rosy.

High income can suddenly become no income.

So subsidies must be inclusive to include the high income - because sudden retrenchment can happen.

Nicholas, [2/10/2024 5:35 PM]

While it is good that subsidies are given, in order to prevent runaway inflation of healthcare cost, a team should be setup to look into cost cutting / productivity enhancing measures to bring cost down within hospitals. Also look into how to shorten waiting times. For example, why is the queue months long to see an eye specialist at a government hospital, when there is no lack of eye specialists (queue is less than 1-hour in private clinics).

REACH Singapore, [2/10/2024 6:01 PM]

📢Topic📢

Adam, [2/10/2024 6:43 PM]

The fallacy of higher income. The highest WEALTH in sg does not have to be higher income. With policies like these the workers will get squeezed. Unless the gov does something that drives away investment

REACH Singapore, [2/10/2024 6:47 PM]

Dear Contributors,

⏰ We will be closing the chat in 15 minutes ⏰

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

Goodnight!

Megan 😊

REACH Singapore, [2/10/2024 7:00 PM]

Dear Contributors

We will be closing the chat for today.

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

Goodnight!

Megan 😊

====