Monday, October 20, 2008

BIRTHDAY PHOTO
We were at our grandma house on the 14th of Sep, which is my Grandma's english birthday. My sister bought a cake for my birthday! so touched!!!

This is the pics with my sister, my Brother (Sister's Husband) and my cousins. Not forgetting Bobby.

Was at Sim Lim square last week where i decided to check out the flea market just opposite Sim Lim Tower. you can really literally find anything there, from old clothings to broken records, Laser Disc, CD, VCD, fake Rolex (They really look very very real until you turn to look at the back of it).
Its like a mini pasar Malam...

Tuesday, October 14, 2008


Oct 14, 2008
Workers are human, too Integrate, not segregate: That should be the way as their numbers grow
By Lydia Lim, Straits Times.
WORKERS were summoned and human beings came. That was how Swiss author Max Frisch summed up the situation in post-war Germany.
In the midst of a reconstruction boom, 1950s Germany recruited tens of thousands of manual labourers from the poor countries of Europe and the Mediterranean coast.
The Germans called them gastarbeiter, or guest workers, for guests were expected to leave after a while.
Today, booming city states like Singapore are doing the same.
There are now 577,000 foreign workers here, excluding maids. They, too, are guest workers, here for the short term to oil the engine of economic growth.
A third of them, or about 180,000, do construction work. Others staff factory lines. Yet others are cleaners.
As a nation, we are painfully aware of our economic dependence on these workers. But we also seem to have reduced them to mere factors of production.
We seem to have lost sight of the reality that these are human beings and like us, they have human needs.
The recent furore over the conversion of an old and vacant school building in Serangoon Gardens into a dormitory for foreign workers makes that patently clear.
The Government announced last week that it would go ahead with the dormitory but to appease residents, it would seal off the entrance that opens out into Serangoon Gardens to both vehicles and pedestrians.
The 600 workers to be housed in the dormitory will only be able to enter and exit via a new, built-to-order 400m slip road that will lead into the Central Expressway and Ang Mo Kio Avenue 1.
So even though these workers will live temporarily within one of Singapore's more mature and pleasant housing estates, they will have no direct access to its shops, parks or eating places.
They will be fenced in and kept apart from the estate's other residents.
A request was also made to Member of Parliament Lim Hwee Hua for shuttle buses to ferry the foreigners - not to Serangoon Gardens of course - but to areas like Bishan and Ang Mo Kio Central on weekends.
We as a society need to ask ourselves if that is an acceptable way to treat fellow human beings.
Why do we feel we have a right to deny foreign workers the good things we ourselves enjoy, including a chance to walk about freely and mingle with others?
Imagine if you or your son or daughter were to go to another country to work and be at the receiving end of such treatment. How would you feel?
National Development Minister Mah Bow Tan stressed last month that segregation cannot be the way forward, not at the rate the foreign worker population is growing.
Their numbers swelled by 102,000 last year alone, double the jump of 55,000 a year ago. And with major construction works lined up, a let-up is unlikely.
Singaporeans, Mr Mah said, must 'be prepared to see them and share with them our common spaces'.
But actions speak louder than words. And in the case of Serangoon Gardens, the Government's response to residents' complaints has been to provide precisely what Mr Mah spoke out against - segregation.
One issue that merits closer examination is the extent to which Singaporeans take the cue from the Government, which has one policy for foreign workers and another, contrasting one for foreign talent.
While there is an economic rationale for such a two-tier approach to regulating the entry and exit of different types of foreigners, such policies also shape people's attitudes.
There is little doubt that as a result, some locals feel distinctly inferior to foreign talent, while others seem to believe they have licence to treat those here on work permits as a lower class of beings.
Any right thinking individual knows that there is no basis for such feelings of superiority.
Most Singaporeans only have to look a generation or two back to realise that the only thing that separates them from foreign workers is the good fortune of having been born in a wealthy and developed city state.
To be sure, Singapore is not unique in its handling of migrant workers.
Compared to some countries in the Middle East, the treatment that foreign workers receive here may seem civilised.
In Dubai, for example, where more than 80 per cent of the work force is foreign, labourers from India, Pakistan and Afghanistan who toil to build skyscrapers and luxury hotels live out of sight in temporary labour camps in the desert.
But is that the direction we want our society to head in? I think we can and should do better.
Some residents of Jalan Kayu and their MP Wee Siew Kim have demonstrated a more humane way forward.
After 6,000 foreign workers moved into the neighbourhood, grassroots leaders and police officers roped in 38 workers to help them patrol the area.
They organised a walk-a-jog around the foreign worker dormitory, so residents and workers could get to know each other better.
Our society needs more such community events, so Singaporeans can see for themselves that most foreign workers are just ordinary, hard-working folk like them.
The Government also needs to step up to the plate. It should review regulations that lend credence to the belief that foreign workers matter less.
The Land Transport Authority's refusal to ban the transport of foreign workers in lorries' cargo decks, for example, signals that these workers' lives are, to quote MP Halimah Yaacob, 'worth less than equipment'.
Let us remember that treating others with dignity is a mark of a civilised society.
(Source: Straits Times, Page A2, October 14 2008.)

After reading this article by Lydia Lim, i cannot help but agree fully with her that we should treat all foreign workers humanely and not carry a skeptical, prejudice and bias attitude towards them. As if everyone of them are criminals or would be criminals.
On the Government's decision to build a worker's dormitory at Serangoon Gardens, residents were unhappy, and many suggested that the govt build it at Tuas, Changi, Jurong etc. Citing reduction in property value if they were to be build there, crimes will rise, peace to be disturbed etc...
If i were to live there and having spend millions to buy a private house and wanting peace and serenitiy around my neighbourhood only to learn that in a years time, some 600 - 1000 foreign workers will come and live in my neighbourhood and traffic will be high due to the ferrying, i will be some what pissed. But to give suggestion to have it build at some other parts of Singapore, i will never suggest it.
What gives you the right to think that residence in some other parts of Singapore would be happy and joyful to having a Worker's dormitory just beside their house. Just so because you can afford the $2 million house gives u the right to feel that way and not others who are living in a $200k home?
They even have the cheek and no shame to even suggest that they be ferried to places like Bishan and Ang Mo Kio on weekend. Have they no shame? i cant believe they even suggest that, it only shows how low can they be when they have only their own interest to care about. Then what would the residence of Bishan and Ang mo kio think? What about the workers? dun they have a freedom or choice to make?
Because of them, they cant even visit the shops to buy neccesities as they are being blocked off. And because of their suggestions, taxpayers have to cough up another extra $2million to build a new route to the dormitory as the main gate have to be sealed off.
I came across a worker's dormitory at Yishun which entrance is facing the HDB ard and on week ends, i see workers enjoying themselves by sitting at the open field or gardens around their dormitory eating and chatting away and at night, going for their favourite Bollywood movies at Yishun Cinema. And all this happened without any fuss.
Kudos to the Singapore Government for not relenting to the request of those bias, selfish and Racist residence to build a dorm in other parts of Singapore.

Monday, October 13, 2008

SINGAPORE INVESTORS STAGE PROTEST AT SPEAKERS CORNERS.

Held at Speakers' Corner, the only outdoor area where public meetings can be held without a permit, the crowd included several people who were sold products in July, when there were already concerns about Lehman's health. -- DESMOND WEE/THE STRAITS TIMES

ABOUT 600 investors in Lehman-linked derivatives held a public meeting in Singapore on Saturday to protest about the way banks sold them the investment products and to discuss ways to get compensation.

Held at Speakers' Corner, the only outdoor area where public meetings can be held without a permit, the crowd included several people who were sold products in July, when there were already concerns about Lehman's health.

'They never told me the issuer was Lehman and I told the manager I was afraid of American banks,' said Ms Lin Ling, who bought S$60,000 worth of Lehman-linked 'Minibonds' from a Singapore finance firm that had marketed the structured notes as a safe alternative to fixed deposits.

Ms Lin said she was persuaded to buy the notes when she went to renew a fixed deposit account. She and other investors showed brochures printed by the finance company which did not say the products were structured by Lehman.

A few elderly investors broke into tears saying they had lost a large portion of their retirement savings. 'I didn't know it's Lehman. There's no Chinese explanation,' said a lady in her 60s who identified herself as Madam Lee. 'I don't want interest, I just want my deposit back.'

Investors in Hong Kong, Singapore and Indonesia have over the past month complained the bond-like products they purchased from banks were actually complex derivatives and that they stood to lose most or all of what they had invested.

Both Singapore and Hong Kong have rules that say banks must ensure that clients purchase investment products that were consistent with their needs and risk profiles.

The products included Minibonds which were sold in Hong Kong and Singapore and DBS Group's High Notes 5 series, which would lose most of their value should anyone of eight underlying firms, including Lehman, go bankrupt.

These structured notes offered modest returns of between 4 and 6 percent per annum. The Monetary Authority of Singapore (MAS) said about 9,700 people had bought Lehman-linked structured notes worth over S$500 million. Hong Kong authorities meanwhile said they have received more than 7,000 complaints from investors alleging banks improperly sold them Lehman-related investment products.

MAS has said that while it can impose fines and suspend the licenses of financial institutions found to be in breach of its rules, it does not have the power to order banks to compensate investors.

According to Mr Tan Kin Lian, one of the protest organisers, Saturday's gathering was to allow investors to meet and organise themselves so that they could get take collective action against the sellers or petition their Members of Parliament. -- THOMSON REUTERS

(http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_288734.html)

WHOS AT FAULT?

The people who purchased the bonds pointed their fingers at the banks for not informing them about the high risk and volitality of such products when selling them those bonds. They furthered that such matters are always in small fine print and included jargons that a non-financial person would not be able to apprehend. Such matters are made worst when they are only being told of the benefits and not the risk that comes with it.

In my opinion, i strongly think that there are bank agents (i use bank agent because of the different title that banks assign to their sales person) who will, on the need to hit the minimum target of sales per month, use unethical methods to push and sell their products even though their clients do not know what and where their money are going.

On the other hand, im quite surprise that such bonds holders are retirees, chinese speaking old folks who obviously cant understand those english description of the products and house wives alikes. Isn't this the same as trying to sell magical stones to the old lady walking down the street?

I was watching CH8 News where this old lady who can only speak fluently in cantonese told the news reporter that her entire $400,000 life savings are invested in the bond, and was told that it is safe and wont be lost. On seeing Lehman Bro bankruptcy in USA, she called the bank agent and was then told that she might lose her entire $400k investment...

My my, wat a tragedy, $400k maybe peanuts to some bank executives/agents during the high times when they earn this amount in like less than months/years? but this old couple may had taken 20 - 30 years to save this amount for retirement?

On the other hand, part of the blame have to be taken by the people who invested in the bonds, as the interest rates are too high to be true and not to be any high risk attached to it, some even claimed that they are being told that it is principal protected. Yes, it is principal protected provided the co. issuing the bonds do not go bust.

Both Singapore and Hong Kong have rules that say banks must ensure that clients purchase investment products that were consistent with their needs and risk profiles.

This is 1 patricularly grey area. How do you define people whose needs and risk profiles matches those bonds issued by the banks?

You may say that the auntie or uncles sipping coffee at the coffee shop every morning reading news paper are not suitable to invest in high risk bonds or they don't need it. But how would you know if maybe they rely on such products to make a fortune?

At the end of the day, once you put ur signature on the line to sign up for the bonds, you are taken to understood every single word that is in the contract. Its just too bad that these investments went bad and that it is unknown if they will ever get back their investments. However to ask for compensation for being misinformed about the product is as good as asking the casino to refund you back your money because they did not stop you from over gambling. if ever such compensation is returned, then can listed co. return shareholders money for the lost in value of the shares?

On the other hand lets see what is happening in HONG KONG...

DBS Bank in Hong Kong has said it will offer full compensation to customers who bought mini-bonds issued by Lehman Brothers. Customers only need to prove to DBS that DBS staff misled them during the sales process (0:23).

http://www.scmp.com/portal/site/SCMP/menuitem.02bb4e979f5e08d5df646910cba0a0a0/?vgnextoid=a5a3dce60f1ec110VgnVCM100000360a0a0aRCRD&vgnextfmt=teaser&ss=Blogs&s=Home&type=Audio


http://singaporemind.blogspot.com/2008/10/break-news-minibond-holders-in-hk.html

Read on, if you have interest.

Friday, October 10, 2008

GIFTS FOR UNO!
This ball is specially for him, he used to have a few which are hard or otherwise soft which he always chew to pieces. He seems happy with this one though.
I threw it at him asking him to "go get it", and he just looks at me silly.

My camera aint fast enough to capture him chasing the bouncing ball.


He is trying to do a ferrari logo by jumping up in the air to catch the ball.


As a threat, i bought him a Korean Dog Chicken Snack, which he likes very very much.

I went to Hereen today and was stopped by a chinese man who asked me what is the name of the building we are at. Straight away i knew he was a tourist, though he doesn't look like one, i told him its He Ren. He asked me if it has a chinese name, i was like -_-'''...
Anyway, i went to Hereen wanting to buy a leather strap for my wrist which i can use as a fashion tool, the one that Pierre Pang wore in the Ch8 Drama at 11pm. Didn't find any thing thats close, so off i went to HMV and came across this DVD, which i heard of many rave reviews.
Since i have a dog at home, i wanna see what kinda promises that this person made to her dog... Though i always promised Uno that i will bring him to Sembawang Beach early in the morning to watch sunrise.
Ok, im a fan of Steve Carell, i love his movies like 40 Year old Virgin, The office and Get Smart, didn't catch this last time round, and thought it will be a nice movie.
IT scored a 60% ++ For its review at www.Rottentomatoes.com


I've been reading this book which is some sort a continuation of the 7 ancient wonders which i read some time ago.
If you like archaeology and ancient myths and legends like the Prymids, Stone henge, Lost city of Aztec, the Maya etc... you will love this book.
Its like the Indiana Jones but a bit more out of the world which gadgets and vehicles that are out of this world.










Economic Recession, here in Singapore!
Today is a day to remember 10/10/08... for a not so good reason as Singapore is slowly and surely sipping into Economic recession. Heres the hottest head lines around the world:
ICELAND ON THE BRINK OF BANKRUPT
Can you believe a country going bankrupt? I wouldn't be surprise if its a country who you dun get to see except during world cup qualifiers or the Olympics. But ICELAND? a country in Europe (they lie just north of England), Producers of famous footballers like Ediur Gudjohnsen (Chelsea and nw Barcelona)... Now their Icelandic Kroner has been wiped out from the face of the earth, and on the brink of extinction? (can they be bought by another country???)
RICHARD FLUD AND HIS HALF BILLION DOLLAR WAGES
It seems that the US do not learn even though they have the SOX to back them up and clean up corporate governance bad practices. Richard Flud was thought to earn almost half a Billion US$ since year 2000.
Wanna know hw many zeros? US$ 500,000,000, thats how much he has taken and lead the Lehman Brothers to bankruptcy. Lehman Brothers have weathered so many hard and bad times, namely the 1930's World wide Economic Depression, WORLD WAR I, WORLD WAR II, Asian Financial Crisis, Dot Com Bubble, just to name a few, and now it lies ruined in the hands of the man who earned $500 million in wages.
So what it is like to have $500 million in Singapore?
I sat down and thought for a while, it is like, u can buy the whole range of Ferrari, Lambo, Porsche, Maserati, Aston Martin, Pagani, build a mansion with like 5 storeys with 20 rooms in it, sauna, swimming pool, jacuzzi, a bar with all the liquor and wine cellar with the world's collection of finest wine, a cinema, a recording room, archery, a stable with horses and the wildest imagination you can have, have a 9 hole mini gold course, a yatch, a private Jet and maybe a helicopter in your backyard?
I think with all that, you can still have some spare change that most singaporeans will never dream of earning in their life time.
AIG RETREAT
Ok, here is the biggest dissapointment, i have a few policies and i believe many have and that makes you a stake holder in the company.
Here comes the blatant truth, right after being rescued by US Fed with a US$85B rescue package, they splurge on a Co. Retreat that cost $440,000. No big deal you might say, as it isn't even a percentage worth mentioning compared to 85Billion. But its the attitude here.
Why in the world would you go for a retreat just when things are not being repaired e.g. your reputation and just when you are being rescued doesn't means you can lay back, get a big fat pay check and sipping Martini on a float at the poshest hotel's resort's pool.
it really gets more blatan when some American Democrats say that it is to retain their higher ups and keep them together.
I really cannot see any co-relation between spending $440k and getting together and keeping them.

Thursday, October 9, 2008

KTV TIME!!!
Ok, i know its uber late that i post this... sometime last week (correct?) my friend Jo organised a KTV session for us all at Crystalbelle (Hope i got it right). The place is rather small, but overall a friendly place to be.

Heres the group of peeps that came together for the KTV Session. Can you spot the TCS Star among us?

TA-DA! Hes the one, no prizes if you guessed correctly.
If your wondering and cant help feeling familiar with his face, he is often casted in the Ch 8 Comedy Nite (Gao Siao Xing Dong) with Jack Neo and Mark Lee. He is always casted as the "Xiao Lao Ban" (Small Boss) of the coffee Shop segment. (Mark Lee acted as Char Kway Teow Boss and Macrus Chin as the fish ball noodle boss)
You can bet that he is as funny in real life and on TV.
Heres some photo taken that nite:

With Jo...

With Kody (middle) and Jo.
Had a very fun night singing all along. Cant Wait for the next outing!