Micro... finance!

I now know how to call "Arisan" in English.

It is called ROSCAs (Rotating Savings and Credit Association).

Cool.

To monetize or not to monetize...

Got this quote off Today Newspaper, about why HDB is only willing to assist downgraders in a "case-by-case" basis:

'There are those who are downgrading because they want to monetise their assets. They live comfortably in a 5-room flat, they sell their flat, they get substantial proceeds and they want to buy a 3-room flat. Such cases are really not the financially hardship type.'

My first thought: Huh? If I can't monetise my "asset", what is the point of its price going up? (Other than enabling the IRS to collect more tax from me that is). What is wrong with wanting to live in smaller house so that I can have more spending cash? I would have worked hard to pay my mortgage interest to the banks, and CPF would have gotten back the money that's meant for my retirement (plus the incurred interest).

My second thought: People who are "living comfortably" in 5-room flats are not likely to want to, or meet HDB's antiquated criteria for 3-room flat purchase anyway.

Given that the average household income in Singapore is approx. $6,000 in year 2008, based on prudent financial thinking, an average property in Singapore should not cost more than $216,000 (3x gross annual salary). And that's already discounting all other expenses such as agent fees, legal fees, renovation, insurance, furniture, etc. Therefore, the price of public housing should be lower than this value, not going 3 times above it! (E.g.: The $600,000+ flats at Boon Keng.)

It gets worse: 'The per capita household monthly income from work for the top 10 percent of the employed households is $7,940 and for the next 10 percent, $3,460. In other words, the per capita income of 90 percent of the households is less than Singapore's average household income.' Source: Department of Statistics' report.

So now, guess who is also at fault for people ending up with properties they can't afford? Hint: this body restricts people from buying properties that are way below their income level and only provide loans for upgrading, not the other way round. They are now turning a blind eye and deaf ears on a problem that they had helped, and still continue to, with great gusto, perpetrate.

Relevance...

So, there's been a tragedy at NTU.

What I don't get is the recurrent mention about how the student was "an avid gamer".
This "info" appeared in all the articles about him so far.

I don't see why this specific "info" about the student has to be included in every article. People who read it would tend to go "ah, is that one of the reason...?"

I am Indonesian, and also am "an avid gamer" myself. So, hypothetically, if people starts giving me funny looks, then I would have a pretty good idea on who to take it out on yes? (And this is a joke, for those who don't get it.)

And they say that the newspaper is relevant...
Bah, humbug!

Basic needs...

Found an interesting article about Food Stamps.

I personally think that, when done properly, it can be a good layer of safety net.

Old haunts refurbished...

I went down to the upgraded Jurong Point mall after hearing that it is now fully open from an acquaintance. And I should say that I am quite pleased. Unlike the original wing, there is no ceiling separating the basement from the skylight at the new wing. This makes it bright and airy despite the heavy human traffic (it was a Sunday). Ding Tai Fung has an open concept restaurant there and there are plenty of new shops. It also appears that the new bus interchange will be located directly beneath this wing. I just hope that the exaust fumes would not affect the air quality in the building. There is also a series of uncompleted flats attached to the new wing. I wonder how much will they sell for. Overall, Jurong Point would be worth visiting again in future.

I still wonder why IMM decided to pull out their shuttle service from Boon Lay. Are they concerned about people in Jurong East using it to go to Boon Lay?

I also visited the relocated Community Library. While it is slightly larger than its predecessor in Jurong Point (which location is now the medical floor), the selection of novels looks to me to be of the same size. The comics collection has improved a little, but still only have much of the same stuff that the other libraries have.

The previous week, I went to visit the Marina Barrage. The waiting area for the shuttle bus at Marina Bay MRT looks like it was thrown together as a side thought. It has no shelter and is sandwiched between a road and a construction site, which makes it a very unpleasant place.

Having reached the barrage, it was quite nice really. The sea breeze was soothing and the view spectacular even in the daytime. I can just imagine how it would be at night. A lovely spot for wine, cheese, crackers, and good companion(s). Also, the New 7th Storey Restaurant that had moved here from Bugis should be worth a visit the next time my parents are here. There is one big grouse though: the inaccessibility of this place after 7:00 pm if one does not have a car. Having to call a taxi to go and return from there would be a royal pain in the tush.

At the other side of the structure is a fenced up area. Another place that I used to frequent when I was younger - the Marina Bay BBQ and Steamboat stalls. I remembered trying to fly kites with my JC friends at the open field before going for scrumptious dinner. That place is now gone. I presume to be transformed into a portion of the integrated resort.

With the landscape changing so fast (among other things), is it any wonder that people in Singapore find it difficult to relate with their country?

2009 is here!

Happy New Year~!

明けましておめでとうございます！
今年も宜しくお願いいたします！m(__)m

"Improved" service...

On my way back from IMM (Jurong East), I saw a small notice pasted on the free shuttle bus I was on. Essentially, it states that from 9th Jan 2009, the frequency of free shuttle bus between Jurong East MRT and IMM will be increased to 1 in 10 minutes (I think it is currently be 15 minutes). The service to Clementi and Boon Lay MRT will be terminated. They claimed that this was done to improve their service.

???

I was thinking: "What kind of an improvement is this?". Jurong East MRT is within walking distance from IMM. It just takes 10 minutes or so. Clementi and Boon Lay MRT are not! There is a new shopping centre near Clementi MRT that is being built and, as I have mentioned before, Jurong Point at Boon Lay MRT has almost completed its expansion. Even if IMM has decided to give up competing for customers from these 2 locations, I really can't see how their decision to terminate the free shuttle services as an "improvement" for their customers.

I would very much prefer it had they said: "Thank you for using our shuttle service for all these years. We regret that we're unable to continue providing the service to Clementi and Boon Lay MRT due to (insert true reason here)."