HARRY POTTER AND THE HALF-BLOOD PRINCE
Though im not a big harry potter fan, but i would sure like to see this movie.
Friday, November 28, 2008
Monday, November 10, 2008
Now my room is airy, brighter and neater. Must thank God, Uncle Beng, Aunt Karen & Uncle Alan and My parents for the help while undergoing the ratification works.Tuesday, November 4, 2008
Singapore Power explains increase of tariffs in Q4
SINGAPORE:
The uproar began slightly over a month ago when SP Services announced that electricity tariffs would increase 21.5 per cent in the last quarter of this year.
Consumers, already burdened by record inflation, saw red and pointed to profits of S$1.086 billion that SP's parent company, Singapore Power, made last year.
How would the poor cope, and why couldn't Singapore Power use some of its profits to absorb the cost, many asked in newspaper and Internet forums.
But the company remained largely silent, leaving market regulator, the Energy Market Authority (EMA), to respond to news coverage and readers' letters.
On Friday, Singapore Power broke the silence and launched a spirited defence against public anger. "We have nothing to hide," said group chief executive officer Mr Quek Poh Huat in a media briefing helmed by top management.
The key message was this: Blaming SP Services for high tariffs is akin to shooting the messenger. "If I'm the lorry driver (delivering) goods to your house, and you ask me how come the (price for) a bag of rice has doubled, I can't explain to you," said chief financial officer Yap Chee Keong.
SP Services does not generate electricity; it transports power from the generation companies (gencos) to end-users, selling to households without any price mark-up. The transmission charge, together with the fee for billing and reading of meters, makes up 17 per cent of the tariff.
Over the last six years, Singapore Power has reduced transmission charges by 24 per cent through higher efficiency. The remaining 83 per cent of the tariff – or 25.13 cents out of the current 30.45 cents per kilowatt hour – is paid to gencos.
EMA sets the formula for tariffs, which Non-Constituency Member of Parliament Sylvia Lim asked to be revealed in Parliament last month.
Singapore Power's profit from the regulated electricity market here was S$423 million last year, representing a 6 per cent return on total assets (ROTA) – a "reasonable" rate compared to other countries.
In Australia's Victoria state, for example, the ROTA is 9.6 per cent. The rest of its profit was from sale of investments and its Australian operations.
In the briefing, Singapore Power also tackled other thorny questions: How far in advance can consumers know of next quarter's electricity prices? Why can't investments in infrastructure be postponed? Why not ask the government for funding? Tariffs for Jan to Mar 2009 will be based on October's average forward fuel prices, said SP Services deputy managing director Jeanne Cheng.
The gencos will convert the average forward price to Singapore dollars and use it to set the tariff's fuel component.
"By the end of November, we would submit to EMA for approval the tariffs for (next) quarter. EMA would require time for checks, but I believe EMA is trying to work to shorten this period to have an earlier announcement," she said.
SP Services had announced this current quarter's tariffs two days before they kicked in, but notice of up to a month is possible, said Mr Quek. When contacted, EMA said: "We are working with SP Services to shorten the turnaround time, but ultimately, due process is needed to compute, check and confirm the figures.
" Singapore Power will invest S$5.1 billion in infrastructure over the next five years, with funds coming from operational cashflows and external borrowings.
It has borrowed S$9 billion from the international markets this year for further investment, said Mr Yap. It would be unfair to ask the government for funding because that would mean taking from taxpayers, he said. "We can take the easy way out, but S$10 billion from the Budget would mean S$10 billion less for the rest."
Mr Yap added: "Energy has a direct correlation with gross national product. If you believe Singapore will grow, then you need to plan forward. It's like the airport – you have to build it before planes will come.
" Singapore's major industries like the banking and pharmaceutical sectors also require high quality power grids with minimal voltage fluctuations, and "just to maintain the same standard, you have to invest", said Singapore Power's chief operating officer Ong Boon Hwee.
http://www.channelnewsasia.com/stories/singaporelocalnews/view/386840/1/.html
Well, i believe everyone who lives in Singapore would be lamenting on the sudden hike of a whopping 21% in Electricity Tariffs.
Many angry residents have complained and demanded for explanations in Straits Times Forums as well as many other independent blogs and forums island wide.
Sudden increase of 21% is really a lot, if you take a household of 4 person (mine for example), before would be around $180 and now its at $210++. Though the amount $30 increase to some may be insignificant but to some, it may meant a weeks worth of lunch or maybe 2 weeks worth of public transport fees.
Couldn't there be a gradual increase like say an increase of 3% every quater? one matter that i couldn't quite agree with Singapore Power (SP) is that they say that blaming them is akin to shooting the messenger (See Bold).
Why i disagree? Here is why:
1. if you are just a messenger as in Singapore Power, then why do we need you as the middle man? Aint the fees we pay you also has a factor of your so called "Salary" in it? Dun act as if you are not involved.
2. Don't give the stupid blatant excuse as if the general public are uneducated, where you think you can fool us with some lame excuse like u did. What you mean you dunno... with the position and title you hold, i reckon you better know what is going on and how are the tariffs charged and how to justify the 21% increase is. I seriously think you should resign, being the CFO, you can proudly say that you dun know how such calculations are done, and even give a stupid parable on the delivery man who does not know why the bag of rice increase, ofcourse he knows why, its just that he doesn't want to tell you that the increase is due to his salary increment and his year end big fat bonus.
3. The Govt have been telling a lot of companies and busniess not to rise their prices and the salary of employees to help curb inflation, and then Electricity prices and transport prices keeps on increasing. Shouldn't there be a curb of increase on these neccessities as well? especially these are used almost every ticking second.
4. why are the electricity price pegged to that of the oil futures prices? (See Bold) in such a case, the company is always in a win-win situation. Whether it gain or losses in the futures market, it will always charge it back to the users in the electrictiy tariffs. Should the risk be borned by the company instead of the users?
SINGAPORE:
The uproar began slightly over a month ago when SP Services announced that electricity tariffs would increase 21.5 per cent in the last quarter of this year.
Consumers, already burdened by record inflation, saw red and pointed to profits of S$1.086 billion that SP's parent company, Singapore Power, made last year.
How would the poor cope, and why couldn't Singapore Power use some of its profits to absorb the cost, many asked in newspaper and Internet forums.
But the company remained largely silent, leaving market regulator, the Energy Market Authority (EMA), to respond to news coverage and readers' letters.
On Friday, Singapore Power broke the silence and launched a spirited defence against public anger. "We have nothing to hide," said group chief executive officer Mr Quek Poh Huat in a media briefing helmed by top management.
The key message was this: Blaming SP Services for high tariffs is akin to shooting the messenger. "If I'm the lorry driver (delivering) goods to your house, and you ask me how come the (price for) a bag of rice has doubled, I can't explain to you," said chief financial officer Yap Chee Keong.
SP Services does not generate electricity; it transports power from the generation companies (gencos) to end-users, selling to households without any price mark-up. The transmission charge, together with the fee for billing and reading of meters, makes up 17 per cent of the tariff.
Over the last six years, Singapore Power has reduced transmission charges by 24 per cent through higher efficiency. The remaining 83 per cent of the tariff – or 25.13 cents out of the current 30.45 cents per kilowatt hour – is paid to gencos.
EMA sets the formula for tariffs, which Non-Constituency Member of Parliament Sylvia Lim asked to be revealed in Parliament last month.
Singapore Power's profit from the regulated electricity market here was S$423 million last year, representing a 6 per cent return on total assets (ROTA) – a "reasonable" rate compared to other countries.
In Australia's Victoria state, for example, the ROTA is 9.6 per cent. The rest of its profit was from sale of investments and its Australian operations.
In the briefing, Singapore Power also tackled other thorny questions: How far in advance can consumers know of next quarter's electricity prices? Why can't investments in infrastructure be postponed? Why not ask the government for funding? Tariffs for Jan to Mar 2009 will be based on October's average forward fuel prices, said SP Services deputy managing director Jeanne Cheng.
The gencos will convert the average forward price to Singapore dollars and use it to set the tariff's fuel component.
"By the end of November, we would submit to EMA for approval the tariffs for (next) quarter. EMA would require time for checks, but I believe EMA is trying to work to shorten this period to have an earlier announcement," she said.
SP Services had announced this current quarter's tariffs two days before they kicked in, but notice of up to a month is possible, said Mr Quek. When contacted, EMA said: "We are working with SP Services to shorten the turnaround time, but ultimately, due process is needed to compute, check and confirm the figures.
" Singapore Power will invest S$5.1 billion in infrastructure over the next five years, with funds coming from operational cashflows and external borrowings.
It has borrowed S$9 billion from the international markets this year for further investment, said Mr Yap. It would be unfair to ask the government for funding because that would mean taking from taxpayers, he said. "We can take the easy way out, but S$10 billion from the Budget would mean S$10 billion less for the rest."
Mr Yap added: "Energy has a direct correlation with gross national product. If you believe Singapore will grow, then you need to plan forward. It's like the airport – you have to build it before planes will come.
" Singapore's major industries like the banking and pharmaceutical sectors also require high quality power grids with minimal voltage fluctuations, and "just to maintain the same standard, you have to invest", said Singapore Power's chief operating officer Ong Boon Hwee.
http://www.channelnewsasia.com/stories/singaporelocalnews/view/386840/1/.html
Well, i believe everyone who lives in Singapore would be lamenting on the sudden hike of a whopping 21% in Electricity Tariffs.
Many angry residents have complained and demanded for explanations in Straits Times Forums as well as many other independent blogs and forums island wide.
Sudden increase of 21% is really a lot, if you take a household of 4 person (mine for example), before would be around $180 and now its at $210++. Though the amount $30 increase to some may be insignificant but to some, it may meant a weeks worth of lunch or maybe 2 weeks worth of public transport fees.
Couldn't there be a gradual increase like say an increase of 3% every quater? one matter that i couldn't quite agree with Singapore Power (SP) is that they say that blaming them is akin to shooting the messenger (See Bold).
Why i disagree? Here is why:
1. if you are just a messenger as in Singapore Power, then why do we need you as the middle man? Aint the fees we pay you also has a factor of your so called "Salary" in it? Dun act as if you are not involved.
2. Don't give the stupid blatant excuse as if the general public are uneducated, where you think you can fool us with some lame excuse like u did. What you mean you dunno... with the position and title you hold, i reckon you better know what is going on and how are the tariffs charged and how to justify the 21% increase is. I seriously think you should resign, being the CFO, you can proudly say that you dun know how such calculations are done, and even give a stupid parable on the delivery man who does not know why the bag of rice increase, ofcourse he knows why, its just that he doesn't want to tell you that the increase is due to his salary increment and his year end big fat bonus.
3. The Govt have been telling a lot of companies and busniess not to rise their prices and the salary of employees to help curb inflation, and then Electricity prices and transport prices keeps on increasing. Shouldn't there be a curb of increase on these neccessities as well? especially these are used almost every ticking second.
4. why are the electricity price pegged to that of the oil futures prices? (See Bold) in such a case, the company is always in a win-win situation. Whether it gain or losses in the futures market, it will always charge it back to the users in the electrictiy tariffs. Should the risk be borned by the company instead of the users?
My Butter prawns!!!
I was reading my friend's blog where she cooked up some butter prawns and it has interest me so much that i decided to cook some to try. The process is rather simple, i got some help from her and then off i went to cook.
The taste is really very similar to those restaurant. Buttery flavour with added spice and chili taste. Ingredients and cooking method is rather easy. I shall cook it this sunday to all Grandma, Aunt, Uncle, Cousins to eat.
I shall not reveal the ingredients yet.
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