Condolence to the families of Lo Hwei Yen
…………..
Attachment #1: Today, 1 Dec 2008, Page 1
Posted in Global News, Singapore News | Tags: Lo Hwei Yen, Mumbai attack, Singapore
Citigroup is in lots of trouble
US Government announced plan to save Citigroup with a $20 Billion package (See Attachment #1).
Looks like Citigroup and Citibank are in lots of shits.
And I received an email today from Citibank CEO Jonathan Larsen (Suddenly) trying to assure customers that the bank is still safe (See Attachment #2 & #4).
Sometime, the more they try to assure you, the more you feel something is amiss.
If you got any investment in Citigroup and Citibank that is not guaranteed by Singapore Government, you should seriously consider taking a closer look.
I remembered seeing an article in CBS News “60 Minutes” recently (On 26 Oct 2008).
It talked about a new crisis that US is facing that is probably as big as the “Sub Prime” crisis.
They called it “Credit Default Swap” (See Attachment #3).
Posted in Global News, Singapore News | Tags: $20b, bailout, Citigroup, credit default swap
Singapore Anime Festival 2008
With all the gloomy economy headline in the newspaper and talks in the radio and TV, lets take a little break and put our mind into something else below.
Posted in Singapore News | Tags: 2008, anime, festival, Singapore, suntec city
Singapore is Officially in Recession
Posted in Singapore News | Tags: 2008, Recession, Singapore
Singapore Town Council ignorant about high risk bond investment ?
S$16 million dollar is evaporating (Maybe already evaporated) from Singapore Town Council fund !
They said that it is only a small sum that our town council can afford and should not affect town council services.
Maybe they considered it as “Peanut” compared to the total town council fund, about 0.6% (See attachment #2).
If this is how they think, then it will be a very dangerous thinking.
If we lose 0.6% of the fund today, how about 0.61% tomorrow ?
Losing the people money like this can never be justified in the eye of normal citizens.
And S$16m is really no small sum in the eye of normal citizens, so they shouldn’t make comment like “Small sum”.
They also state that town council can invest up to 35% of its fund (See attachment #2).
Let me see, S$16m ~0.6% => 1% ~ S$26.67m => 35% ~ S$933m => 100% ~ S$2.67 billion.
Wait, let me see. “My Paper” reported that town council has accumulated a total of about S$1 billion (See attachment #5).
That’s not right with the figure above (S$2.67 billion). Something is amiss here (Scratch head….).
A few questions that we should ask from this saga…
Posted in Singapore News | Tags: $16 million losses, Singapore, sinking fund, town council
Singapore next booming industry, Organ Hub
Like it or not, organ sale is going to be legalized in Singapore.
Of cos, they will make it like sounds like a sort of compensation for organ donor.
I believed that organ trading in Singapore is going to bring in huge commercial potential.
The question is whether the donor is doing it out of the goodness of his/her heart or purely for the money.
Differentiating one from another is going to be very difficult or close to impossible.
While they said that the penalty for organ trading middleman is going to be strict, how are they going to detect and prosecute if there is a middleman, especially if the middleman is not a Singaporean operating in another country.
Whatever it is, the medical industry is probably going to see a big boom in organ transplant operation when the organ trading system goes online.
We’ll need more organ transplant surgeons.
A few issues to take note here..
Posted in Singapore News | Tags: Singapore, Organ Sale, hota
DBS axed 900 jobs, creatively.
DBS announced that they will be axing 900 jobs, mainly in Singapore.
Though this is not surprising considering the global gloomy outlook, but it was still a surprise for many of us, especially DBS staff.
Imagine the DBS staff being asked to go for a surprise morning breakfast with Bee Hoon, Fried carrot cake, sandwiches and fried cuttle fish.
Maybe they think it’s a free breakfast to lift mood.
Then the Chief (Richard Stanley) announced plan for retrenchment (Attachment #1).
By the way, the fried cuttle fish was not true, I added that myself.
What a creative way to break the bad news to your staff.
The last time they retrenched people, they send email to fire staff.
And there was a lot of “Hoo Haa” about their inhumane way.
So this time round, they treat you to a breakfast before telling you that you may have to walk the plank.
A few points to take note below…
Posted in Singapore News | Tags: Singapore, DBS, retrechment
Singapore electric suppliers got lots of explaining
Singapore Power is saying that we shouldn’t blame them for the recent price hike.
They are only the messenger delivering the service and bills to us (Attachment #1).
Sound like total BS to me.
Why is it a BS ?
Posted in Singapore News | Tags: Electric tariff, Hua Neng, Marubeni, Singapore, SP Service
Obama won America Presidential Election
The race is over and the Obama “Black Horse” has came out wining the game to become the next America PRESDIENT.
No, there’s no unintentional typo error here, cos that’s what written in the TV (See below).
Posted in Global News | Tags: America, Election 2008, obama, President, US
Counting down to American Election 2008
Less than 24 hours and the result of American Election will be out.
Almost the whole world is watching and waiting to see what’s going to happen to the world economy after that.
It looks like Barrack Obama is leading the race to white house.
Personally, I think that Obama will win this one.
My guess is that he’s going to win by larger margin than the poll result (65 to 70%)
But it’s going to be a hell of a tough time ahead for Mr Obama.
Below are the reason why I think Obama will win.
Posted in Global News | Tags: American Election 2008, maccain, obama
