Skip navigation

Tag Archives: Singapore

Public Housing – HDB – BTO, Singaporeans wealth creation………..

There is so much noise, misinformation and disinformation during this upcoming election by the opposition parties, especially PSP………. their solution will leave Singaporeans old and poor later on!

I can speak directly about HDB as I am a beneficiary of the entire system.  Since the change from SIT to HDB, our government has continuously improved the policies revolving around HDB through the decades.  Please bear in mind that as a Singaporean, we have been given the privilege and I dare say the right bestowed by HDB to be able to buy direct from HDB, that is, buy BTO twice in our lifetime.

78% of our population lives in and owns HDB, so our government is clearly very focused on the asset wealth of Singaporeans.  I will also address the 99 years leasehold status of HDB, which by the name is no different from a 99 years leasehold condominium or 99 years leasehold landed property, however, HDB has a major safety net built in.

Singapore is a matured and developed country, so if you compare our public housing to any other similar matured and developed country, HDB public housing has been a miracle for Singaporeans.

Let’s address two misinformation from the opposition parties (especially PSP); firstly, BTO prices are out of reach for Singaporeans and no longer affordable and secondly, the secondary market for HDB flats at over a million dollars is beyond the reach of Singaporeans.

About 83% of Singaporeans are employees working in the workforce, which means all of them report income and pay taxes.  Think for a moment, our government has all the data of the working population and is in the best position to formulate pricing model for HDB that is equitable and reflects the rising incomes of Singaporeans.

Most fresh graduates today have a starting salary of S$3,500/- per month and within the next 3 years to 5 years, will see their incomes rise to the range of S$5,000/- to S$8,000/- per month.  Remember, our government has all the data, so it is reasonable to conclude that our government would be in the best position to formulate the pricing model of HDB flats relative to the salaries of Singaporeans at an affordable and equitable level.  Why do you think the combined income ceiling limit to buy BTO has been raised numerous times starting from S$8,000 to S$10,000 to the current S$14,000, it is because Singaporeans are now earning more, and our government does not wish to cut them out of buying a BTO if they so wish to.  In fact, there is talk that their combined income ceiling could be raised to S$16,000 per month.

An interesting phenomenon that has happened since the 70s till now, I don’t know whether it is by design or by circumstances however, we must be thankful to HDB and our government.  What is it?  Notice that since the 70s till now, any Singaporean who bought a BTO, after the MOP (minimum occupation period), most who sell their HDB in the secondary market 5 years to 10 years later will enjoy capital appreciation anywhere from 50% to 100%.

What does that mean to Singaporeans, all their hard work has paid off in seeing their HDB homes appreciate in value.  In fact, quite a number of Singaporeans, if they have done well in their corporate careers, will take the opportunity to capitalize on the capital appreciation and upgrade into a condominium or landed property.  This has been happening for the past 3 decades it not more.  Best, it is still true today!  So, in fact, the government has a HDB policy that helps all young Singaporeans upgrade if they wish to, which government will do that for you?

Eventually, when we start to grey, we can monetize our private property and then apply the BTO a second time to right size in our old age.  We will then have our own savings, CPF savings and capital appreciation from the private property to see us through our old age without being a burden to our children, our government, our society and our country………..how wonderful!!!

HDB prices for 4 room flats range from S$350,000 to S$800,000 from outlying areas to prime areas, no different from condominiums and landed properties comparing prices from outlying areas to prime areas.  There must be differentiation in pricing and values to reflect the better and prime locations.  HDB ensures that there is a variety of choices for young Singaporeans depending on their income levels.  Of course, one cannot be unrealistic and say, I am a low wage earner, but I want to buy into a prime BTO and HDB is making it unaffordable for me to do so.  Why not use the same analogy and say, I am an average execute earning average middle income salary, but I want to buy a good class bungalow, and our government must make it affordable for me to do so.  Where is the logic in all that???  However, the opposition is saying that, that BTO prices should be low and the same whichever location in Singapore……. totally senseless!

The HDB resale market needs to be healthy for capital appreciation to be able to continue, I like the fact that HDB and the government enacted a curfew policy preventing private property owners from buying into the resale market immediately after they have sold off their property.  The 18-month curfew has contributed to a cooling effect and has stabilized the HDB resale market.

Also, let’s remember that the HDB resale market is supported by majority Singaporeans who are upgrading, therefore it shows that income levels are rising through time, and Singaporeans can bid for higher HDB resale prices.  Is that bad, of course not, it is healthy, and it is a reflection of a healthy and strong economy that allows Singaporeans to have higher incomes.

PSP proposed excluding land cost into the prices of BTO only to be added in, if the HDB owners wish to sell later.  This will destroy the HDB resale market, destroy Singaporeans potential nest egg and eliminate capital appreciation.  Simple, add the prevailing land cost then, add the accrued interest on CPF based on the principal CPF used in the purchase and in the mortgage of the HDB flat………and hold and behold, we are in negative equity!!!  At that time, elderly Singaporeans will be screaming bloody murder as they will not have any nest egg left!

Let’s talk about 99 years leasehold status.  Besides, HDB, there are also condominiums and landed properties that are 99 years leasehold, the difference is that with HDB and our government, there is a renewal policy, there isn’t in the private leasehold property market.  If you own a 99 year leasehold private condominium, at the end of the 99 years, the land is returned to the landlord/property developer.  The landlord/developer owes you no obligation to make you whole.  In the case of HDB, our government has put in place a renewal policy to offer old HDB flat owners to buy new HDB flats at a discount and sell the old flat back to the government.  Which government of a matured and developed country anywhere else in the world would offer this policy???

I wish the opposition parties will come up with more credible ideas, suggestions and policies rather than proposing ideas that will destroy the capital appreciation in the HDB resale marketplace, ideas that will deplete our reserves simply because we have reserves.

Our government is helping the bottom 20% in society, however, the bottom 20% also need to help themselves.  Education and skills are your power, for Singaporeans who are unskilled, please go get skilled, for Singaporeans who want a paper qualification, please go get it.  No one is stopping you, except yourselves.  Get it and claim a better quality of life for yourself and your family.  Let’s not forget, Singapore is a matured and developed country, therefore, there is no place for the unskilled and lowly educated, just like it is the same in any matured and developed country in the world.

For the rest of us who form the thick middle class, let’s continue to fight the good fight to claim what is ours with hard work, work smart, be productive and contribute to Singapore.

Your Vote Counts…….make it count!

2025 and the coming general election in many ways is critical for Singaporeans as the demographics of the electorate has changed and the feelings and mindset of the voters have changed.

More importantly, there is so much misinformation and disinformation out there that it has clouded many people’s perspective of things………. which is dangerous.

This could very well change the mental and emotional approach in which they are going to vote.

Take for example the subject matter of ‘HDB is beyond the reach of Singaporeans’. I mean that is such bullshit, putting it plainly. 

Our government has all the income data from IRAS, our government is aware of the starting salaries of tertiary graduates, diploma graduates, all the way down to ITE graduates.  Our government knows how Singaporeans are progressing in their careers 3 years to 5 years down the road, they know how their salaries will increase before these young Singaporeans are ready to buy their BTOs.  Also not forgetting, need time for dating and for building the relationship before considering marriage.

Our government ensures that there is a variety of BTOs in different locations from prime to less prime so that there is choice, however, we also need to be realistic, we can’t say that my income is low but I want to live in a prime area, just not possible.

The higher prices in BTOs reflect rising building and constructions costs and the government must continue to improve the build quality, amenities and facilities as they are doing so now.  The higher prices of BTOs are also a function of higher incomes of buyers.  We can’t expect HDB to keep BTO prices at the 1980s levels as asserted by the opposition parties, it’s not realistic and absolutely no logic.  Just consider the fact that the combined income ceiling to apply for BTOs has been adjusted upwards through time from $10K to $12K to $14K and I understand in the near future, it will be adjusted to $16K, this is clearly a reflection of higher combined incomes of young Singaporeans.  We should be happy and celebrate the success of our children.  I have two boys who are Gen Ys, and one boy who is a Gen Zs, I know what I am talking about.

Most Gen Ys and Zs, by the time they graduate from university and enter the working world it would be about 2008 and thereafter.  What does this mean? It means that these two generations have never experienced recessions or difficult times.

Let’s be real for a moment, when I was born the first thing I saw was the ceiling fan in KK Hospital when my boys were born in KK Hospital, the first thing they saw and felt was the aircon…….they are aircon babies! 

I am also the ‘sandwich’ generation straddling two generations; looking after and caring for my parents who were born in the early 30s and my own children who are our future, embracing old school traditions and simultaneously, embracing the younger generation way of thinking and feeling…….tough.  Appreciating the difficult times our parents went through to build a future for their children makes us more grateful for hard work, integrity and having the ‘iron’ to pursue our dreams.

The Gen Ys and Zs are more of the ‘I, me and myself’, individualism is not bad, it creates leaders, creative and innovative geniuses, however, in an increasingly divided society, it becomes imperative that we work together as a team and work cohesively and inclusively for the greater good.

If we look back in the history of Singapore, we are nothing short of a modern-day miracle, however, it was all attributed to the people of Singapore, our only asset and our best asset.  We have no natural resources to rely on Mother Earth, we can only rely on ourselves and each other and we made it.

The challenge now is where do we go from here?

The Singapore of today does not have room nor can cater to the lowly educated, we are developed and matured economy, therefore, we need the bare minimum which is skilled labor and higher.  So it is no wonder that school dropouts and unskilled labor are having a tough time affording housing and managing cost of living expenses.  Our government is helping the bottom 20% of the population with financial aid and the like, however, we need to help ourselves to acquire a skill so that we can be relevant to Singapore and ensure that we have a better qualify of life.  There are many programs from WDA to SkillsFuture to help Singaporeans acquire skills.  The opposition is not going to be able to help you, they can’t even help themselves.

Gen Ys & Zs have been labelled as ‘the entitled generation’, is it true are there some foundation for this thinking or not?  Can we pass the baton on to the Gen Ys & Zs to take Singapore onwards and upwards to an even better future?

The fact that all of us enjoy a better quality of life is not incidental, it is true hard work, focus and the resolve to ensure that the future is better than the one we inherited.  However, today I also see a conceited view of Singapore by our young Singaporeans, who feel entitled and feel that the government should do more, but the question is do the young, do more?

Talk……….like we need to vote in more opposition so PAP will wake up their idea and do better. Or PAP is too conceited and arrogant, and we need to vote in more opposition to humble PAP.  I really don’t know where all this is coming from.

Let’s face it, no one is perfect, however, if we look at how PAP has done for the past 60 years, then, their track record is damn good!  Today, we have many avenues to voice our concerns to the government, and we are heard, we don’t need the opposition to talk on our behalf.

The opposition has not come forth with any decent policies or proposals, except to keep on saying that we should spend our reserves.  Do we spend our savings?

So remember when the time comes to vote, vote because you believe in the party you are voting for, not vote for the opposition to spite PAP, that is not an educated and responsible Singaporean.

Reflections of a Singaporean

Watching Lawrence Wong’s speech at the PAP Conference a few days ago, gave me a lot to think about as a Singaporean, and as a Majulah Singaporean who is now a sexagenarian.

I have been blessed to have grown up during the developing years of Singapore, moving from underdeveloped in the early 60s, to strong developing years in the 80s and 90s and culminating as a matured developed country into the 21st century.

Having studied and worked overseas, I can confidently say that Singapore is my home, and Singapore is where I wish to be.  Every time coming back to Singapore, we take for granted how green and clean our city, island and country is, we take for granted our efficient and effective everything is around us; we take for granted how peaceful and safe our country is.  We do not realize how much effort, time and monies it takes by our Government to ensure a smooth running country for its citizens.

Let’s put things into perspective, from 1965 to 2024, there have been 4 global recessions: 1975, 1982, 1991 and 2009.  This does not include SARS in 1997 and COVID19 in 2020, and the impacts caused by the Gulf War and 9/11.

Gen Ys was born between 1981 to 1996, and Gen Zs from 1997 onwards.  This means by the time the oldest Gen Y graduated and started working, say at 26 years old, it would be the year 2007.  So pretty much most of the Gen Ys and all the Gen Zs have never experienced a recession?!  So for the Gen Ys, their first experience of a downturn or a difficult and negative economic period was COVID19 and post COVID19.  While we acknowledge the global impact of the pandemic, we must also understand the impact and post impact to the cost of living globally, not just Singapore.

Cost of Living

In fact, the price of our ‘basket of good’ has been increasing steadily since 2015, with climate change, brings unpredictable weather to agriculture, which requires predictable weather, hence, spoilage and lower yields are the new normal which in turn has put pressure on prices of basic foods.  The pandemic brought about disruption in the supply chain, and prices started to escalate, however, it has calmed down abet it is still elevated.  Inflation globally has fallen since the pandemic.

Let’s dwell into the demographics of our population to gain a better understanding of who may or may not be impacted by the higher cost of living expenses.  About 15% of our population is the elderly, that is, above 65 years old.  The largest age group is between 30 years old and 36 years old.  The bottom 20% of our population has a household income of less than S$3,000.

The median annual salary of Singaporeans is about S$61,000 and in terms of average salary annually about S$70,000.

On a GDP per capital basis, Singaporeans contribute about US$127,565, which means every Singaporean creates or supports about US$127,565 worth of GDP at PPP (purchasing power parity) which considers relative cost of living.

The median annual salary of a fresh graduate in Singapore is about S$51,000.  Let’s not even discuss fresh graduates in professional fields like law and medicine which would be higher.

How about programmers and coders, and even more surprising are influencers on social media, the much talked about new economy called the gig economy, all earning good monies with the skies the limit.

In 2023, more than 7.8 million departures for holidays were made by Singaporeans.  In the 2024 NATAS travel fair, more than 120,000 people booked tours with most travel agencies experiencing more than a 30% increase in business.

During the pandemic in 2020, the median BTO price of a 4 room HDB was S$450,000 about the same as the peak in 2013. In Q3, 2024, the median resale price of a 4 room HDB is about S$680,000.

So, do we really have a cost-of-living problem in Singapore and has housing become unaffordable, these are the ‘noise’, misinformation and disinformation created by the opposition parties, is there really any truth to it?  Obviously, not.

Think about it for a moment, if the cost of living is painful and housing is beyond affordability, then, why are there so many Singaporeans travelling, why are so many Singaporeans buying new cars, why are there so many Singaporeans buying higher priced BTOs, why are there so many Singaporeans prepared to pay more for HDB resale flats, why are there so many Singaporeans eating out at restaurants……….why, why, why?

Granted, the groups that need the most help are the bottom 20% and the elderly 15%, and I must say that our Government has done a lot for these two groups and will continue to do so.

“Whoever governs Singapore must have that iron in him. Or give it up. This is not a game of cards! This is your life and mine! I’ve spent a whole lifetime building this and as long as I’m in charge, nobody is going to knock it down.”

― Lee Kuan Yew

The truth is all of us have grown up in Singapore in the past 59 years, educated, knowledgeable, determined, work hard, work smart, all of us in our own way have developed our own ‘iron’ within us to help give ourselves a better life and to also contribute to Singapore.  The baton will now be passed on to the Gen Ys and Gen Zs, who will have to chart out and carve out, the future for and the future of Singapore.

Nobody owes us a living, the only way to outrun the continuing rise in cost of living is to educate ourselves, value-add and be productive citizens of Singapore.  Our Government has created the necessary infrastructure in the education system to fulfill our dreams of being professionals, and if we can’t, we can always pick up a skill.  Our people need to be either educated or skilled, there is no place in Singapore for the unskilled.

Singapore 4.0

During one of PM, Lawrence Wong’s speeches in Parliament, he talked about Singapore’s future and that he wishes to see Singapore become a global innovation and technology country of excellence.

In the past near 6 decades, we have been doing well learning from the West, adopting and adapting for our own use in Singapore and we have been highly successful.  We then, created Singapore Inc., and sold our expertise to our neighboring countries.

Singapore’s assets have always been its people, it was, it is, and it will always be, we have no natural resources, our natural resources are Singaporeans.  We need to evolve for the future to create and innovate our own technologies that have global implications and international applications.  Then, export these technologies to the West and the rest of the world.  Singapore must become the global Silicon Valley; this is our future.  This lead and challenge can only be undertaken by the energetic and creative minds of our Gen Ys and Gen Zs.

The Pioneer generation, the Merdeka generation and the Majulah generation have all contributed to build Singapore from an under-developed country to a developed and matured country.  It is now time for the Gen Ys and Gen Zs to bring Singapore to new heights in the next 60 years.

Post GE2015………….a resounding landslide victory for PAP……….(“,)

What a surprise, what a surprise, I don’t think for a minute everyone including all Singaporeans and PAP expected such a huge winning margin, and then again, why not?

Since the embarrassing results for PAP back in 2011, it truly was a wake up call for PAP and woke up they did.  The national average of 69.86% (near 70%) compared to 60.14% in 2011 is a strong affirmation from Singaporeans that they recognized the good work done in the past 4 years by PAP.  In 2011, PAP was caught with one shoe off, when they realized that grassroots, RCs and Town Councils were not feeding back the concerns of Singaporeans in the respective constituencies.  Thank goodness, after 2011, PAP took concrete steps to rectify the lack of communication.

What has been significant in the past 4 years is the strong communication channels built up between Singaporeans and PAP, be it social media, internet websites, twitter, emails, today, we can reach our MPs and Ministers via IT.  In the old days, it was IMPOSSIBLE.  Think about it, today, we can even twitter our PM, Lee Hsien Loong, could we have done that with his father, No.  What this is saying is times are changing and have changed; the way the government interacts with its electorate and how Singaporeans communicate with our government, we are coming closer.

What I also like about the approach that our government has taken is, they now have a better SOP with regards to implementing policies.  PAP now takes more time to debate in Parliament, takes more time to explain the new policies, takes more time to disseminate the policies to Singaporeans, takes more time to help Singaporeans benefit from the policies by literally engaging them personally and to make sure they do secure the benefit.  An example of this is the pioneer package and I do congratulate PAP and our government for doing a great job of it.

More importantly, PAP has demonstrated when they have made a mistake, they would readily and expeditiously rectify the mistake.  Take for example, the immigration policy that allowed foreigners to come into Singapore to take up junior and middle level management positions and squeezing out Singaporeans from a job and career.  I am glad to see how quick PAP was in dealing with the matter, of course, we will see how PAP will continue to refine the immigration policies going forward to protect Singaporeans first.  Singapore should implement a policy to govern MNCs and corporates to consider hiring Singaporeans FIRST in junior and middle level positions before looking outside, otherwise, penalties will be enforced.  I appreciate that certain senior level positions still require it to be filled by foreigners because they have more global exposure than Singaporeans, however, as more and more Singaporeans take on regional jobs, global jobs, their experience will also accumulate through time.

A near 70% national average win is a strong acknowledgement by Singaporeans of the good work done by PAP in the past 4 years.  More importantly, it also means that Singaporeans have higher expectations of PAP to deliver more to the people in the next 5 years.

Some of the social media is saying that Singaporeans decided to be ‘kiasu’ because of many uncertainties; our economy, global economy and changing times, that is why they decided to go with the safer bet, that is, PAP.  There is also internet talk that new citizens have voted for PAP.  There are always two sides to a coin, whatever, the motivation of these kiasu Singaporeans to default back to PAP, proves that they believe that PAP is the stronger party and the more competent government to take Singapore through the impending uncertain times.

As we all now know, it’s the elderly and the younger generation that voted more for PAP.  It suggests that the elderly Singaporeans have renewed their faith in PAP.  As for the younger Gen Y of Singapore, I believe a significant number of the young have had positive experiences dealing with various government departments and entities.  My friend’s son who graduated from Temasek Polytechnic in IT, started up a company with a few friends and they were able to secure various funding from Spring Singapore.  I believe the fact that PAP is more engaging in social media and the internet also helped to foster a positive relationship with the younger electorate.

2015 is a lesson for the Opposition(s).  It’s nice to see more educated people making the decision to join the Opposition(s), however, a handful does not make a strong team and does not make a government.  My suggestion to the Opposition is that all of you should consider very seriously to come together as a coalition; capitalize on your joint strengths and minimize your common weaknesses, then and only then, will you be able to make a credible fight against PAP.  What is amazing is that virtually all the Opposition parties were banging away at the same topics; education, healthcare, old age and retirement, cost of living, wealth gap, etc.  So why couldn’t the Opposition parties come together?  The answer is simple; stupidity, ignorance, arrogance, lack of leadership and the lack of vision.  Looks like we will have 8 voices from the Opposition in Parliament for the next 5 years, let’s hope that they are more credible than in the past 4 years.  I have yet to see an Opposition propose a new policy or bill in Parliament, they always wait for PAP to come up with the policy and then they criticize, but never counter proposing with a better solution.  The fact that WP won Hougang with a lower percentage at 57.7% compared to 2011’s 64.1% is an enlightening moment!  Opposition, you are starting to lose credibility and if you don’t do something about it within the next 5 years, don’t blame anyone else except yourselves if you continue to lose percentages.

Let us all look forward to a better next 5 years, it is going to be difficult because of a number of strong headwinds; weak first world economies, weak China, weak emerging Asian markets, aging population and lower productivity.  We need to dig deep within ourselves and embrace the ‘iron’ resolve that Singaporeans are known for and defend our position as a successful first world country and economy.

 

 

 

 

 

 

 

My thoughts on GE2015; PAP and the Opposition(s)

At age 52 and a Singaporean who grew up during the developing years of Singapore and experiencing the most dramatic changes in our country, I am comforted that we have a good and capable government in PAP.

While the track record of the past 50 years has been nothing short of stellar and exemplary, prices has been paid and casualties incurred.  Then again, that is to be expected, that is no such thing as achieving utopia, all of us live in the real world, choices and decisions have to be made throughout our lives, consequences of those choices and decisions have to be managed as they unfold through time……good or bad, right or wrong, we need to embrace it.

Today, Singapore is at the crossroads, we have a mix of life’s experiences; from the ‘pioneer’ generation that build the foundation for Singapore, they are now our elderly and we need to honor them.  Then there is the ‘privileged’ generation which I belong to that enjoyed a better start in life because our parents, grandparents and our government helped build a strong foundation.  Our generation continued to build on this foundation and took the country to its first world status today.  The next generation which aptly put is the ‘entitled’ generation.  These are my children who are in their mid 20s and up to their mid 30s.  They are the ‘aircon’ generation, the first time they open their eyes in the hospital they felt the cool air of the air conditioning.  The first thing I saw when I was born was the ceiling fan in the hospital.  Why is it that the younger generation feels that their starting point in life should be handed to them on a silver platter; like a BMW, a condominium, branded clothes, etc.  What happened to having a more modest starting point and then building on one’s own success through time.  Recently, I addressed a group of young adults who will be first and second time voters and I shared with them that they only know how to sit back and complain and criticize, do they know how privileged they are to be able to do so.  Look at our neighboring countries, their counterparts are working 2 to 3 jobs with no time to sit down and complain.

I have a friend who said to me that his son cannot live on a salary of S$3,500 per month and gave him a credit card which the son spent another S$3,000 per month.  So I told my friend that you have essentially encouraged your son to live beyond his financial means, now you have to continue to support your son.  I asked my friend all of us started modestly, I remembered when I first graduated and came back to Singapore just after the 1985/1986 recession, my starting salary was only S$1,500/- per month, but it was better than my seniors who started with S$600/- per month during the recession.  All of us survived and we have prospered through the years.  We are able to do so because our government has built a strong economy that gave us jobs, that gave us opportunities to progress up the corporate ladder as more and more MNCs came to Singapore through time.

If I was asked whether I have gone through hardship, I would say compared to my parents and my grandparents, no I didn’t go through hardship.  As a child growing up and listening to the stories told by my grandfather about how he left China to come to Singapore to hopefully find and make a better life.  How he went through the Japanese occupation and how he experienced Singapore when we were cut off from Malaysia.  My father has his own stories to tell of how there was civil unrest on the streets and that schools were so substandard.  How he had to walk 10miles everyday to get to school because public transport was hopeless.  How when dinner time came, all the family had was rice, some bean sprouts and soya sauce to eat.

Today, we live in such an efficient, peaceful, vibrant and plentiful Singapore.  It is so easy to forget what our parents and forefathers went through to bring Singapore to where it is today.  While during my early working career, it was normal to put in 12 hours at the office, especially when one wanted to get ahead, but today, for the younger generation to put in the same hours is unthinkable, why?  Long working hours at work doesn’t even begin to compare to what our parents and forefathers went through to build a life and career, to feed and nurture a family.

Sometimes, when I look at myself in the mirror and ask; am I a perfect husband, am I a perfect father, am I a perfect businessman?  No, I can’t say that because as humans we are flawed.  How then can we ask for perfection from our government, isn’t our government comprised of humans, it is simply not possible and not real?  Yes, PAP has made mistakes and in truth when one makes the decision at that point in time, no one knows how the future will turn out.  In hindsight, all of us have perfect vision, but is life about regrets and always looking backwards?

Singapore is unlike any first world country in the world.  We have a one party rule for all 50 years.  No other party except PAP has played an instrumental part and an integral role in the development of Singapore.  Take the United States for example, the Democrats and the Republicans have been running the country for over 200 years.  From day one, Senate and Congress has a mix of both Democrats and Republicans running the country.  Yes, the President will change from time to time from Democrat to Republican, back and forth.  What is important to understand is that two strong parties, both working together manage and rule the United States of America through time.

Singapore is unlike many first world countries in that we are small, so small that it is funny when we are compared to one state in the United States of America, or one small part of the continent of Australia or that we are a dot on the world atlas.  Therein lies our competitive edge and also our Achilles heel.  As a small and vibrant country we can move swiftly to capitalize on global opportunities and to avoid potential disasters.  At the same time, if we are to get hit, it will affect all of us because we are so small.  Take for example; what happens in California really doesn’t have an impact in New York on the East Coast of the United States, why, because the country is big.  Therefore, our government, PAP has to be especially careful, guarded and sensitive to the happenings of the world because a ripple in the pond will feel like a tsunami to us here in Singapore.

Our dear Mr. Lee Kuan Yew was a strong leader with a strong team of leaders working with him as a team to build Singapore.  We are a first world country today, it’s like Tiger Woods climbing up the ladder to become world’s number 1.  Where does Singapore go from here?  The only direction from here is down.  To maintain first world country status, will take a much stronger team with a much stronger resolve to keep Singapore at the top, if we have the Opposition coming in to manage and rule Singapore, we will be doomed.  I can fully appreciate how difficult the road ahead is for PAP to continue to keep Singapore productive and relevant to the world so that we can continue to enjoy quality of life at its best.

The Opposition has absolutely no clue how to run a country, it doesn’t matter that they have some educated candidates, the fact is the Opposition has no experience running a country and frankly they don’t know how to period.  Take a look at the Aljunied GRC managed by WP, what a joke.  WP won for the first time a GRC and yet from the time they took over the town council, they have been screwing up, and this is only one small part of Singapore.  Knowing that it is a such a privilege to have won a GRC, shouldn’t WP have put in all their efforts to do a good showing the past 4 years before this election?  People say, we should give them a chance because they never managed a GRC before, or that they have never managed such a large constituency before, what a load of crap!

So, by the same token if we were to allow Opposition to takeover the running of Singapore, and they screw up, and Singapore goes from first world status to another Greece, when the lives of Singaporeans are destroyed and our future blown up in smoke, who do we turn to then, the same idiots that ruined us?

The Opposition questions PAP whether we are debating local issues or national issues?  The fact is Singapore is a city, an island, a country, we are small, therefore, local issues are national issues, national issues are local issues, they are all intertwined.  Now, let me add another facet, because Singapore’s economic growth and health is 75% dependent on the rest of the world who we do business with globally, global issues gets intertwined with local and national issues, why, because it impacts ALL of us.  Can the Opposition begin to comprehend this complicated relationship, NO!

So much is said about the fact that we need some Opposition in government so that they can VOICE our concerns and our needs.  Do we need the Opposition to speak on our behalf, maybe, 15 years to 20 years ago, but not TODAY.  Today, our voice is the Internet, our voice is the social media, even PAP is afraid, PAP knows that they have to engage us, there is no escaping, there is no avoiding, so what do they do?  Today, you can reach your MP directly by email, even our PM is on twitter and we can tweet him.  Today, we can reach our government, we can reach our MPs, our Ministers, and they WILL respond, if not, then, guess what, there will be an audit trail of emails, messages, proving that PAP has ignored us.  Now, would PAP risk this, of course not.  So, do we really need the Opposition to be our voice?  No, they can’t even begin to articulate intelligently and with confidence in Parliament.  What is an interesting development through the past 6 years is that we see more and more PAP MPs raising issue and debating impending policies in Parliament.  In other words, these MPs are speaking up on our behalf, they are questioning, they are asking, they are probing, they need to in order to keep our votes. The world is watching us.

Let’s talk about housing, the Opposition is saying that the price of housing has risen to the point that is beyond the reach of Singaporeans.  Is our Opposition talking about Singapore or some other foreign land?  I know for a fact that HDB continues to be affordable for the great majority of Singaporeans.  I look at my second son and his girlfriend, both graduated from Temasek Polytechnic, unfortunately, not so smart to go to university.  Both have been working in the marketplace for the past 4 years, they both make about S$4,000/- per month each, they have accumulated savings and have built up their CPF accounts.  Recently, they applied for a new 5 room HDB flat at Boon Keng for S$500,000/-, unfortunately, they were unsuccessful in the balloting and didn’t get it, however, we are encouraging them to apply again.  What I am saying is with a combined salary of S$8,000/-, and having worked for a few years and they are now in their mid 20s, they can well afford a 5 room HDB flat in a popular area.  It is not beyond their reach, is it?  I believe my son represents the typical young Singaporean adult.

My wife’s nephew who is a used car salesman, married with a 8 year old daughter was able to buy directly from HDB, a 4 room flat for S$280,000/- in Sengkang, he only has a GCE ‘O’ Level certificate, and he is able to afford it.

To say that HDB prices have appreciated beyond the reach of Singaporeans is so untrue and total rubbish.  Of course, if we are talking about resale flats, then, that is a different issue altogether.

In fact, all Singaporeans should be so thankful to PAP, all through the 30 plus years ever since HDB started, PAP has ensured that all first time HDB buyers after the 5 year curfew, would be able to sell their flats in the secondary market for twice the price they paid for it.  I know, it’s not a policy of PAP, however, what’s interesting is that it works out that way ALL the time.  It allows Singaporeans the opportunity to upgrade to better housing based on the capital appreciation and hopefully, their higher salaries through time as well.  All this is possible because fundamentally our country’s economic health is stable, politically we are stable.

The Opposition is talking about lowering prices, why, and for whom?  PAP has ensured that all Singaporeans who are educated or skilled and working will be able to afford to buy a HDB flat directly from the HDB.  The operating criteria is Singaporeans who are educated or skilled, because then, we can command an economic value.  If we are uneducated or unskilled, then, that is a different situation altogether.  It is every Singaporeans’ responsibility to educate themselves to the best of their ability so that they can garner better job prospects and higher salaries through time.  All this means that Singaporeans can enjoy a higher quality of life.

PAP has listened to Singaporeans, so today they have modified the HDB policies to include older singles, to allow the elderly to monetize their flats and continue living in them.  As Singapore continues to westernize, we now have unwed or divorced single parents, so I am confident that PAP together with HDB will address these emerging groups that has its own needs.

Let’s move on to talk about the CPF.  The Opposition is saying that PAP should allow Singaporeans to withdraw all their CPF at age 55 like in the old days, that it is wrong for PAP to hold back our monies till we are 65 and beyond.  The fact of the matter is in the old scheme a lot of Singaporeans withdrew all their CPF monies and then squandered it, or was cheated or for other reasons they lost it all over a short period of time.  Now, they are penniless, in their 60s and 70s, and maybe even lost the roof over their head, does it now become the problem of PAP to house and feed these people, who so recklessly spent or lost their savings?  The extension of the withdrawal of CPF after retirement is to safeguard us so that we do not become a burden to our government, our country, our society and to our children.

The Opposition is saying that Singaporeans will know how to manage their retirement monies and they are insisting on PAP to change the policy to allow full withdrawal at age 55.  Since the Opposition is so confident of Singaporeans being able to manage their own retirement monies, then, why not the Opposition underwrite any Singaporeans over age 55 who withdraws all their CPF and loses it.  Will the Opposition guarantee the well being of these Singaporeans?

For me, the more pressing issue is the returns on our CPF monies in our various accounts, be it the Ordinary Account, Special Account or Medisave Account or Retirement Account.  Our eminent PM says that the government is already paying up to 5% p.a. on the first $60,000, and my question is why not for the entire amount?  Is there a reason why PAP can’t do that for Singaporeans?  As it is, between GIC and Temasek, they procure our country’s reserves and our CPF monies to invest and I applaud them for doing so.  After all, they have the best brains working in these two organizations, furthermore, GIC and Temasek also has access to global investment opportunities and global best in class fund managers.  I believe the reported returns in 2014 for both GIC and Temasek is higher, so why not give Singaporeans the full benefit of 5% p.a. on our total CPF balances?

If our government were to give Singaporeans 5% p.a. on the total amount of the monies in their CPF account, retirees would not need to withdraw their CPF monies to invest in the stock market, that is, in REITs, bonds or units trusts to try and earn a better interest rates or return.  This I would like to see happen for Singaporeans and I know PAP can do it.

The Opposition from NSP said that the government should give Singaporeans a return of 15% p.a. on their CPF monies.  Is this guy operating on planet Earth?  Does he know how much risk the government, GIC and Temasek needs to take on to potentially try to make a return of 15%?  Oh yes, the person from NSP is none other than Mr. Lim Tean, a Cambridge trained lawyer and partner of Rajah and Tann, what an idiot for saying what he said, obviously, lawyers don’t have a clue about the investment industry and the financial world.

Let’s talk about education.  The government has realized through time that not everyone is scholastic or academically incline, so through the decades as Singapore grew and progressed, we started expanding with polytechnics and ITEs.  The reality is not everyone is academically incline to become lawyers and doctors, but to finish schooling with only a GCE ‘O’ Levels, that individual will find it very difficult to be a relevant in the Singapore workforce.  So our government has made it a point to educate and empower Singaporeans with either a piece of paper called a degree if they can achieve it or a skill so that both these Singaporeans; academic or skilled can be a productive Singaporean to our GDP.  More importantly, academics or skill empowers Singaporeans with financial independence to enjoy a better quality of life through time.

The Opposition talks about the fact that the government should promote free education, free healthcare, free this and free that, any idiot can make such proposals when there is a positive balance in the bank account.  Let’s not forget a lot of what the Opposition is asking for FREE grows exponentially through time.  The bank account will very quickly be depleted.  Why hasn’t the Opposition come up with proposals or policies to create monies, to promote business development, to create value adding, to create growth?  Simple, they do not have the first clue how to begin to formulate such policies and why, because it’s beyond them to do so.  Singapore is a globalist, it has successfully engaged other first world countries and emerging countries to execute ‘win-win’ outcomes for Singapore.  Any policies will need to be all encompassing, all embodying because our livelihood depends on the world, does the Opposition understand this, NO, they don’t.

Let’s talk about foreigners and foreign workers.  PAP has been successful in creating a viable and relevant business environment for many MNCs to set up here in Singapore.  In fact, a number of MNCs have made Singapore their RHQ, OHQ or GHQ.  Today, a great majority of Singaporeans in Singapore work for MNCs that are here in Singapore.  Singapore companies by comparison make up a smaller number.  It is important to attract senior foreign talent as they have more experience then we have coming from other first world countries with much longer history than we have.  Of course, through time this gap will narrow and our government should also try to attract back to Singapore our foreign trained local talent living in other countries.

The Opposition talks about the fact that PAP has blatantly attracted multi millionaires and billionaires to make Singapore their home, driving up the cost of living and property prices.  Does the Opposition bother to read the various immigration policies that governs these rich foreigners coming to Singapore?  They are mostly confined on Sentosa, they also setup companies and create jobs for Singaporeans.  The Opposition says that the cost of living has been driven up.  Recently, I came back from Perth, Australia and I was shocked to experience that a plate of chicken rice in an aircon food court in a shopping mall was A$13/-.  I believe in Singapore it’s about S$4/-.

The Opposition is saying that Singaporeans are worse off because of rising cost of living.  Does the Opposition know that 3 out of 4 Singaporeans travel every year? Things must be so bad that Singaporeans can still make 8 million trips outside Singapore in 2014.

I agree that PAP has made a mistake in the foreigners hiring policy of allowing foreigners to come in and take up junior and middle level management positions that can be fully and competently performed by Singaporeans.  I believe our government has tighten the policy and will continue to refine it so that Singaporeans through time will not be disadvantaged.

Our government has done a lot for the blue collar workers through WDA and various other initiatives to retrain and encourage working Singaporeans back to the workforce.  Where the government has been less successful is in the white collar segment of working Singaporeans.  Yes, they have tried with JobBank and other initiatives, but it has largely failed.  It is not so easy to retrain a white collar worker and reintroduce them back to the workforce.  Today in Singapore, if you are a hardworking and successful white collar worker in his mid 40s, you are on the radar of ‘retrenchment’.  It is a sad reality of life in Singapore.  There is a significant number of white collar workers that have been displaced since the global crisis of 2008 and they have not been able to return to the workforce.

I would like to see our government come up with some solutions to help this segment, if not, through time as these people get older, they will become an inevitable burden on the country.  So, I urge our dear government to start putting on their thinking caps and develop a solution to prevent the long term negative outcome.

I could go on, however, I believe enough is said.  Singaporeans are going to make a major decision on their future this weekend, a future that is going to be tougher than the past.  We need to have a government that is strong, competent and with the resolve to continue to move Singapore forward and keep Singapore relevant to the rest of the world.  Then and only then, can we can continue to enjoy the quality of life that we have grown accustom to.