View Full Version : Singapore Billion dollar project.
4.3 Billion Undersea tunnel - 5km Marina Coastal Expressway - a $4.3 billion project which will facilitate traffic flow in and out of the Marina Bay area.
http://motoring.asiaone.com/Motoring/News/Story/A1Story20120407-338142.html
1 Billion - Gardens by the Bay
http://www.skyscrapercity.com/showthread.php?t=509703
http://wildsingaporenews.blogspot.fr/2011/02/gardens-by-bay-reaches-first-milestone.html
5 Billion MRT line - North South and East West Line.
1.2 Billion MRT line - expansion of the North South Line into Woodlands.
http://en.wikipedia.org/wiki/Mass_Rapid_Transit_(Singapore)
S$950 million dollar hole in the ground - Jurong Rock Caverns
http://www.cnngo.com/singapore/life/jurong-rock-caverns-billion-dollar-hole-ground-381834
$180m - River Safari
http://www.singaporebuilder.com/river-safari/
$1.7 billion - Kallang–Paya Lebar Expressway
http://www.lta.gov.sg/content/lta/en/projects/kallang-paya_lebarexpressway.html
S$3.65 billion Deep Tunnel Sewerage System (DTSS)
http://www.pub.gov.sg/dtss/Pages/default.aspx
S$2 billion - infrastructural base for Marina Bay, which also includes the Marina Barrage, a Rapid Transit System and the new Marina Promenade and Double Helix Bridge.
http://en.wikipedia.org/wiki/Common_Services_Tunnel
76 Million - Bishan Park
http://www.todayonline.com/Sunday/SundaySpecial/EDC120311-0000003/Bishan-Park-reborn
http://www.asiaone.com/News/Latest%2BNews/Singapore/Story/A1Story20120216-328175.html
S$16.7 million - The total cost of environmental improvement works for Changi Point
http://en.wikipedia.org/wiki/Changi_Boardwalk
http://www.ura.gov.sg/pr/text/pr03-51.html
$25.5 million - Southern Ridges
http://news.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20080510-64420.html
$13 million - Horticulture Park
2.5 million - 200m stretch of the river at Kolam Ayer
http://wildsingaporenews.blogspot.fr/2008/01/kallang-river-makeover.html
$1.87bn - Singapore Sports Hub
http://www.m62.net/about-m62/m62-news-events/singapore-sports-hub/
1.3 bn - Changi Airport T1
1.75 bn - T3
http://en.wikipedia.org/wiki/Singapore_Changi_Airport
225 million - East Coast Park
http://books.google.fr/books?id=qSIJ2uKKs88C&pg=PA42&lpg=PA42&dq=singapore+marina+reclaim+land+cost&source=bl&ots=i8oI_0kel4&sig=wlesbJGCHH1ikDeyP9Swbaw2uN8&hl=en&sa=X&ei=WFKBT5_7I5GJhQfol-S0Bw&ved=0CFMQ6AEwBg#v=onepage&q=singapore%20marina%20reclaim%20land%20cost&f=false
118 million + 230 million - Changi Airport reclamation.
http://books.google.fr/books?id=qSIJ2uKKs88C&pg=PA42&lpg=PA42&dq=singapore+marina+reclaim+land+cost&source=bl&ots=i8oI_0kel4&sig=wlesbJGCHH1ikDeyP9Swbaw2uN8&hl=en&sa=X&ei=WFKBT5_7I5GJhQfol-S0Bw&ved=0CFMQ6AEwBg#v=onepage&q=singapore%20marina%20reclaim%20land%20cost&f=false
hmm...where did Europe's trillions and trillions went to? :confused: :confused:
hmm...where did Europe's trillions and trillions went to? :confused: :confused:
Go to the Bank.
The ECB's first ever long term Refinancing Operation (LTRO) that had been estimated to provide upto Euro 350 billion to Europe's bankrupt banks in the form of cheap 1% 3 year loans, instead a huge Euro 489 billion was borrowed by 523 banks in a rush to grab cheap money that amounts to QE in all but name regardless of ECB propaganda.
http://www.marketoracle.co.uk/Article32265.html
TheOnlyGayInTheVillage
08-06-12, 11:16
Sports Hub gears into action.
http://www.stjobs.sg/singapore-jobs/sportshub-pte-ltd-jobs-cx
Good work Arcachon...
You forgot the best investment they have made so far....
ERP infrastructure.....ROI is phenomenal.....
Dec 22, 2007
$2b mega project to expand Singapore port
http://i980.photobucket.com/albums/ae282/SCskysc/Transportation/ScreenShot032.jpg
16 additional berths in Pasir Panjang to cope with trade boom
By Bryan Lee
SINGAPORE is spending $2 billion to expand its port to beef up annual capacity by about 40 per cent.
The mega project will help ensure that the local docks, already bursting at the seams, can cope with the higher volumes expected from booming global trade.
The expansion plans - known as Phases 3 and 4 - will make space for 16 additional berths in Pasir Panjang, which will have an annual handling capacity of 14 million standard containers, said the Maritime and Port Authority of Singapore.
Work is expected to be completed by 2013, although certain preparation and conservation initiatives have already been undertaken over the past two years.
The project comes on top of ongoing port expansion efforts as sea traffic here has seen steady growth.
Container traffic grew 6.9 per cent last year to hit 24.8 million twenty-foot-equivalent units (TEUs) - the term for the freight boxes - making Singapore the busiest container port in the world.
Volumes are forecast to rise even more this year on booming trade between Asia and Europe. PSA, which operates four of the five container terminals here, expects to handle 27 million boxes this year. In the first eight months of the year, volumes were up 13.7 per cent to 17.8 million TEUs.
The Pasir Panjang terminal, the subject of the latest expansion plan, is already doubling its number of berths over the next two years under an initial development project known as Phases 1 and 2.
PSA Singapore Terminals, the terminal's operator, is building 13 berths at Pasir Panjang under the first two phases to bring the total to 26 berths.
The company has spent $5 billion over the past 10 years on the terminal's two development phases. When these are completed in 2009, it expects the annual container handling capacity across its four terminals here to hit 35 million boxes that year.
'PSA Singapore Terminals continues to experience strong growth in its container volumes and we expect to handle 27 million TEUs this year,' said a PSA spokesman. 'We have already fast-tracked our development of Pasir Panjang Terminal Phase 2. The development of Phases 3 and 4 is therefore timely.'
Jurong Port, which runs a much smaller operation, is also beefing up capacity, upgrading quay cranes and extending the length of its five berths, said a spokesman.
The latest expansion plan for Pasir Panjang will have a total quay length of 6km, adding to the current total of 14.2km across all 49 container berths islandwide.
Some major roads in the area will also be lengthened and upgraded in anticipation of heavier road traffic from a bigger port. Harbour Drive will be extended eastwards while the intersection between Clementi Road and West Coast Highway will be upgraded with a flyover.
The contract for the project has been awarded to a consortium comprising civil engineering firms Koon Construction & Transport, Penta-Ocean Construction, Hyundai Engineering & Construction and Van Oord Dredging and Marine Contractors.
While still early days, industry experts tip PSA to be the likely operator of the new berths.
The company did not confirm this but said: 'PSA is working closely with the Ministry of Transport and Maritime and Port Authority of Singapore on this new development. Our customers can be assured that we will have capacity for them to expand their hubbing operations here.'
[email protected]
Copyright © 2007 Singapore Press Holdings. All rights reserved. Privacy Statement & Condition of Access
http://wiki.worldflicks.org/reclaimation_-_pasir_panjang_terminal_phase_3_and_4.html
TheOnlyGayInTheVillage
17-06-12, 12:53
Great updates. Lets share more news showing that more trade and businesses will be drawn to Singapore and growth will still remain.
Tats where the taxes, COEs, ERPs you pay goes to....:banghead:
Tats where the taxes, COEs, ERPs you pay goes to....:banghead:
Any suggestion how to take it back?
New Thomson MRT line to open in 2019
SINGAPORE - The new 30km long Thomson MRT line is set to open in three stages from 2019, and will have 22 stations - six of which will be interchanges connecting to all MRT lines and the upcoming Downtown Line (DTL).
Transport Minister Liu Tuck Yew announced the finalised plans for the Thomson Line (TSL) at a DTL event earlier today.
Fully underground, the new line is expected to be built at an estimated cost of around $18 billion and anticipated to have a daily ridership of about 400,000 commuters in the initial years.
http://en.wikipedia.org/wiki/North%E2%80%93South_Expressway_(Singapore)
The new 21 kilometres (13 mi) expressway would cost about S$7–8 billion when fully completed by 2020 and will connect the East Coast Parkway (ECP) with the northern parts of Singapore
surprised the sports hub only 1.8b nia.... chicken feed in comparison
Good work Arcachon...
You forgot the best investment they have made so far....
ERP infrastructure.....ROI is phenomenal.....
every time u hear BEEP...GOVT get richer...:doh:
System installation charges in 1998 came to SGD 200 Million. Annual operating cost as of 2003 were about SGD 16 Milliom, while revenue came to SGD 80 million.
http://the-tech.mit.edu/~richmond/professional/aircon.pdf
http://www.pbs.org/wnet/blueprintamerica/reports/america-in-gridlock/video-in-singapore-curbing-traffic-with-automatic-tolls/217/
http://www.asiaone.com/News/Latest%2BNews/Singapore/Story/A1Story20120917-372144.html
http://www.asiaone.com/A1MEDIA/news/09Sep12/20120917.221350_weird5e.jpg
looks like a recession is indeed coming.
more and more construction projects committed.
latest productivity numbers not good at all as well.
looks like a recession is indeed coming.
more and more construction projects committed.
latest productivity numbers not good at all as well.
Recession is already here.
http://www.ida.gov.sg/doc/Collaboration%20Opportunities/Collaboration%20Opportunities_Level2/iN2015Healthcare.pdf
http://www.yourhealth.com.sg/content/1-patient-database-serve-all-public-health-care-institutions
TECHNICALLY, not yet.
http://www.businesstimes.com.sg/premium/top-stories/risk-technical-recession-rises-august-exports-dive-20120918
http://www.asiaone.com/Motoring/News/Story/A1Story20121115-383513.html
http://www.straitstimes.com/sites/straitstimes.com/files/20130821/28974762e.jpg
https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-prn1/996912_10151800879672040_2108572195_n.jpg
http://www.skyscrapercity.com/showthread.php?t=327301&page=3
http://28.media.tumblr.com/tumblr_ldbhy3HJM61qzimz8o1_400.png
http://www.skyscrapercity.com/showthread.php?t=1277217&highlight=
http://dl.dropbox.com/u/3668949/ERLWMG.jpg
https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-prn1/58806_10151256513032040_2118475546_n.jpg
http://www.skyscrapercity.com/showthread.php?t=556753&page=17
http://www.zublin.com.sg/image/gas_pipeline_1.jpg
Singapore (18 December 2011) – Ed. Züblin AG, Singapore Branch announced the successful completion of a record-breaking single drive tunnel using pipe jacking method in the Asia- Pacific region.
Züblin was awarded the SGD 23.6 million Submarine Gas Transmission Pipeline Project by Power Gas Ltd., Singapore in January 2011 with contract duration of 24 months. The scope comprised sinking of two deep shafts and an ID2000mm reinforced concrete tunnel over a record length of 1.55km crossing beneath the busy shipping lanes of the West Jurong Channel, including the design, manufacture and supply of precast RC jacking pipes. The tunnel will house a DN700mm high pressure gas transmission pipeline, traversing between the Singapore mainland and Jurong Island.
https://www.youtube.com/watch?v=9PevpS9wmts
In July 1997, piped gas production operation was relocated to the S$240 million Senoko Gasworks. This has a daily production capacity of 1.6 million cubic metres, 45% more than Kallang Gaswork's capacity at 1 million cubic metres. Singapore Power also opened a S$30 million gasholder at Toh Tuck at end March 1998 which serves as a contingency store of between 6 to 8 hrs gas supply should the Senoko operation face problems.
http://infopedia.nl.sg/articles/SIP_750_2005-01-11.html
http://pictures.nl.sg/Results?q=Kallang+Gas+Works&qt=tag
http://www.citygas150.com.sg/images/albums/former_kallang/img01.jpg
http://www.citygas150.com.sg/images/albums/former_kallang/img17.jpg
http://farm2.static.flickr.com/1097/881436246_3b8b79b1bf.jpg?v=0
S$3.65 billion Deep Tunnel Sewerage System (DTSS)
http://www.pub.gov.sg/dtss/Pages/default.aspx
Expensive SHIT
$60 billion Seletar Aerospace Park.
http://www.stproperty.sg/articles-property/singapore-property-news/sensitive-not-sweeping-change-for-seletar-please/a/154321
http://static.flickr.com/46/202630602_65a9927293.jpg
http://directory.st701.com/Image/AdServing/Pictures/as-1274846082738-SeletarAerospacePark.jpg
http://theluxuriesengkang.files.wordpress.com/2011/08/map-of-seletar-aerospace-park1.jpg
at least the $ are spend developing the country.
at least the $ are spend developing the country.
Ya right. As long it is go to someone pocket. We pay taxes and these money go to delvelop the country.
Patrickstar
21-02-14, 20:53
How come the $300 million wasted on youth olympics nobody bring up liao? Ms Vivian how come never kenna sacked ah?
at least the $ are spend developing the country.
How come the $300 million wasted on youth olympics nobody bring up liao? Ms Vivian how come never kenna sacked ah?
Youth olympic is quite new i do not know how much it would be but olympic expenditure is huge in billions and most countries overshot the budgets. So $300m is not much for youth olympic.
See this for olympic:
http://en.m.wikipedia.org/wiki/Cost_of_the_Olympic_Games
Youth olympic is quite new i do not know how much it would be but olympic expenditure is huge in billions and most countries overshot the budgets. So $300m is not much for youth olympic.
See this for olympic:
http://en.m.wikipedia.org/wiki/Cost_of_the_Olympic_Games
300M is small money. Base on what is it wasted? it put us on the map with the global cities. Such publicity could have cost even more just to run PR.
How come the $300 million wasted on youth olympics nobody bring up liao? Ms Vivian how come never kenna sacked ah?
BAse on what its wasted? Give the people they go anyhow spend is then wasted.
Patrickstar
21-02-14, 22:46
Youth Olympics and adult Olympics are two different things. Youth Olympics nobody gives a shit whether the country spend $300 million or $300k and our govt can't see that. My point is Singapore is being taken for suckers without govt knowing, and what more spending $300 million on a useless event with the whole world laughing at our sheer stupidity.
Youth olympic is quite new i do not know how much it would be but olympic expenditure is huge in billions and most countries overshot the budgets. So $300m is not much for youth olympic.
See this for olympic:
http://en.m.wikipedia.org/wiki/Cost_of_the_Olympic_Games
Patrickstar
21-02-14, 22:49
No need to give people $300 million, they just keep that money in the reserve and not waste it on the useless youth Olympics can liao.
Until now singaporeans have yet to get accountability from govt about this matter. :doh:
BAse on what its wasted? Give the people they go anyhow spend is then wasted.
Youth Olympics and adult Olympics are two different things. Youth Olympics nobody gives a shit whether the country spend $300 million or $300k and our govt can't see that. My point is Singapore is being taken for suckers without govt knowing, and what more spending $300 million on a useless event with the whole world laughing at our sheer stupidity.
Whos laughing? pls quantify.
Patrickstar
21-02-14, 23:10
The whole world knows Singapore overestimated on yog budget by more than 3 times, you mean this is not laughing stock enough for you? BBC was kind enough to just write it as singapore taking a gamble on the event, short of saying it was sheer stupidity.
http://m.bbc.co.uk/news/10978576
Whos laughing? pls quantify.
Now that is free advertisement, which cost even more.
300M is small money. Base on what is it wasted? it put us on the map with the global cities. Such publicity could have cost even more just to run PR.
True. With 2 over $1b-land sold to developers, why not? $300m is nothing.
http://www.straitstimes.com/breaking-news/money/story/mixed-use-site-yishun-ave-2-draws-stunning-top-bid-143-billion-20130905
http://www.h88.com.sg/article/Punggol+gets+a+megamall-condo+after+a+$1+billion+bid (http://www.h88.com.sg/article/Punggol+gets+a+megamall-condo+after+a+$1+billion+bid/)
No need to give people $300 million, they just keep that money in the reserve and not waste it on the useless youth Olympics can liao.
Until now singaporeans have yet to get accountability from govt about this matter. :doh:
give other people meh? its local development local business catering its jobs .. so I guess give Singaporean business are consider other people these days. lol.
The whole world knows Singapore overestimated on yog budget by more than 3 times, you mean this is not laughing stock enough for you? BBC was kind enough to just write it as singapore taking a gamble on the event, short of saying it was sheer stupidity.
http://m.bbc.co.uk/news/10978576
wats the big deal. its advertising, $ to local business. Which Olympics event not over budget ?
Nahh latest 1... Winter Olympics 4 X over budget
http://edition.cnn.com/2014/02/04/sport/sochi-winter-olympics-by-the-numbers/
London Olympics 2005 5 X!
http://www.canadianbusiness.com/blogs-and-comment/why-are-the-olympics-always-over-budget/
Rios 2016 is already up 27%
http://sports.ca.msn.com/olympics/rio-olympics-operating-budget-rises-by-27-per-cent
So tell me something new? and those are in Billions.
WTF is 300M anyway.
https://fbcdn-sphotos-a-a.akamaihd.net/hphotos-ak-frc1/t1/534645_10151142413123173_641618512_n.png
Yog is beneficial n pro sg initiative for sure. There r intangible benefits. If youth is impt, gov shd spend e equivalent to provide more sub subsidy to pre sch n uni from more practical perspectives to help sporeans to cope rising living stds
Patrickstar
22-02-14, 08:16
The contention is not whether yog is beneficial, it is more than $200 million into the drain coz budget should not even exceed $90 million which is already at the high end of the estimate. There are much cheaper ways to advertise Singapore on the world stage and in any case, Singapore is already known with or without yog. As you have said, much could be done with that money locally and the money could have been put to much better use.
Yog is beneficial n pro sg initiative for sure. There r intangible benefits. If youth is impt, gov shd spend e equivalent to provide more sub subsidy to pre sch n uni from more practical perspectives to help sporeans to cope rising living stds
Agreed. Overbudgetting is hardpain. Thats our money from taxes. But at least the govt is gutsy to take on such challenges n innovatively peach for yog while sg can never be able to compete for adult olympics. The only thing I hope is they have to do more careful planning next time n learnt from the mistakes. While aiming to be the best organiser to impress the world, shd also practice budget prudence.
The contention is not whether yog is beneficial, it is more than $200 million into the drain coz budget should not even exceed $90 million which is already at the high end of the estimate. There are much cheaper ways to advertise Singapore on the world stage and in any case, Singapore is already known with or without yog. As you have said, much could be done with that money locally and the money could have been put to much better use.
Don't talk cock lah. Olympics is international event watched by many, Youth Olympics who watch and who care?! Which big money spenders will fly to Singapore to watch Youth Olympics vs Olympics? :tsk-tsk:
If Singapore can get to host Olympics then overbudgeting may be OK because we can get many participants and tourists revenues from many big spenders, but for some event like Youth Olympics that not many watch and care, and the participants have little money to spend in Singapore, all those talking about putting Singapore in the eye of the world and the event benefiting businesses in Singapore are all hogwash! :banghead:
wats the big deal. its advertising, $ to local business. Which Olympics event not over budget ?
Nahh latest 1... Winter Olympics 4 X over budget
http://edition.cnn.com/2014/02/04/sport/sochi-winter-olympics-by-the-numbers/
London Olympics 2005 5 X!
http://www.canadianbusiness.com/blogs-and-comment/why-are-the-olympics-always-over-budget/
Rios 2016 is already up 27%
http://sports.ca.msn.com/olympics/rio-olympics-operating-budget-rises-by-27-per-cent
So tell me something new? and those are in Billions.
WTF is 300M anyway.
Patrickstar
22-02-14, 08:56
Those examples you cited are for the main Olympics, which is a different thing altogether. It is like comparing a picasso painting with one done by picasso's daughter. :doh:
wats the big deal. its advertising, $ to local business. Which Olympics event not over budget ?
Nahh latest 1... Winter Olympics 4 X over budget
http://edition.cnn.com/2014/02/04/sport/sochi-winter-olympics-by-the-numbers/
London Olympics 2005 5 X!
http://www.canadianbusiness.com/blogs-and-comment/why-are-the-olympics-always-over-budget/
Rios 2016 is already up 27%
http://sports.ca.msn.com/olympics/rio-olympics-operating-budget-rises-by-27-per-cent
So tell me something new? and those are in Billions.
WTF is 300M anyway.
Patrickstar
22-02-14, 09:14
People get thrown into jail for stealing just a can of beer from a supermarket, for blowing $200+ million more of the budget, shouldn't the sacking of balakrishnan be the most minimal and decent thing to do?
Agreed. Overbudgetting is hardpain. Thats our money from taxes. But at least the govt is gutsy to take on such challenges n innovatively peach for yog while sg can never be able to compete for adult olympics. The only thing I hope is they have to do more careful planning next time n learnt from the mistakes. While aiming to be the best organiser to impress the world, shd also practice budget prudence.
Is YOG an overall success to you? Different people may have different views.
I think theft and this over budgetting case is quite a different thingy. If this is another $200 million misuse case, then that is a no brainer thing to do as per your suggestion plus jail. If it is a mis-plan, what is the root cause of it and if it is already fixed internally? Is such misplan due to spore team or overseas factors?
Should we have another YOG and what is the best way to do so? It is easy to comment but tough to do.
People get thrown into jail for stealing just a can of beer from a supermarket, for blowing $200+ million more of the budget, shouldn't the sacking of balakrishnan be the most minimal and decent thing to do?
Patrickstar
22-02-14, 15:08
To me wasting $200 million of taxpayers money is more of a felony than stealing a can of beer from the supermarket. Ask any man on the street n see what their response is. I can forgive the man who went to jail stealing a can of beer more than the one who overspent $200 million of the natoon's money.
Is YOG an overall success to you? Different people may have different views.
I think theft and this over budgetting case is quite a different thingy. If this is another $200 million misuse case, then that is a no brainer thing to do as per your suggestion plus jail. If it is a mis-plan, what is the root cause of it and if it is already fixed internally? Is such misplan due to spore team or overseas factors?
Should we have another YOG and what is the best way to do so? It is easy to comment but tough to do.
Patrickstar
22-02-14, 15:23
Why is there also no inquiry into the overspending on yog? $200 million in excess is just an honest mistake from government n we should just move on?? Where is that accountability?
Is YOG an overall success to you? Different people may have different views.
I think theft and this over budgetting case is quite a different thingy. If this is another $200 million misuse case, then that is a no brainer thing to do as per your suggestion plus jail. If it is a mis-plan, what is the root cause of it and if it is already fixed internally? Is such misplan due to spore team or overseas factors?
Should we have another YOG and what is the best way to do so? It is easy to comment but tough to do.
nowadays there are many things questionable liao. look at F1, you cannot see the benefit but hey will claim it is beneficial. Argue till cow come home
Patrickstar
22-02-14, 15:49
For F1 we are the first country to host the night race which made history n moreover it was quasi govt spending. Moreover there wasnt much that can be done with the cost coz F1 set the price. Yog is a different thing, the budgeting was in the hands of bala n gang.
nowadays there are many things questionable liao. look at F1, you cannot see the benefit but hey will claim it is beneficial. Argue till cow come home
Yo, $200million is a hard pain as mentioned earlier. So do every Singaporean.
I think there was also quite a lot of heated argument in other forums when that news was bought up. I believe public feedback were already taken into considerations for the appraisal of the related ministry.
What happen to MCYS after YOG 2010? Reorg to MSY and MCCY in Nov 2012. Both ministries still do their public services well to singaporeans and not leaving you and me to serve the elders, disabled, distress and youth.
But if we do not move on from that pain, how? Do excuse me to be out from this thread....
Why is there also no inquiry into the overspending on yog? $200 million in excess is just an honest mistake from government n we should just move on?? Where is that accountability?
Patrickstar
23-02-14, 02:57
Think you still don't understand what accountability means. Accountability means paying for one's mistakes first before moving on, not moving on from that mistake by just shaking off the damage done. The only way for accountability to be shown here is for the minister involved to be booted out. Ministerial responsibility is the fundamental principal in constitutional law if you don't already know that.
Go and read what ministerial responsibility is:
http://en.m.wikipedia.org/wiki/Individual_ministerial_responsibility
Yo, $200million is a hard pain as mentioned earlier. So do every Singaporean.
I think there was also quite a lot of heated argument in other forums when that news was bought up. I believe public feedback were already taken into considerations for the appraisal of the related ministry.
What happen to MCYS after YOG 2010? Reorg to MSY and MCCY in Nov 2012. Both ministries still do their public services well to singaporeans and not leaving you and me to serve the elders, disabled, distress and youth.
But if we do not move on from that pain, how? Do excuse me to be out from this thread....
Bro, there is no point shouting in this property forum unless you decide to take any legal actions against whoever to make them accountable for that over budgetting of $200million for YOG.
You to sue to the govt/Minister to make them accountable or join the opposition party to bring up this over budgetting matter?
I am neutral to this matter and this does not imply i think $200million over budgetting is not an issue. But i choose to move on.
And i dont really need to read such article to understand ministerial accountability. This is not a political/about singapore forum. Perhaps realsingapore - complaint section can be a better channel for you to vent your frustration.
You can be right or you can be rich. Up to you really. :o
Think you still don't understand what accountability means. Accountability means paying for one's mistakes first before moving on, not moving on from that mistake by just shaking off the damage done. The only way for accountability to be shown here is for the minister involved to be booted out. Ministerial responsibility is the fundamental principal in constitutional law if you don't already know that.
Go and read what ministerial responsibility is:
http://en.m.wikipedia.org/wiki/Individual_ministerial_responsibility
Patrickstar
23-02-14, 11:29
I am surprised at your nonchalant attitude towards the $200+ million blown away unless you are a foreigner of course. This forum has morphed into a forum for all sorts of conversation be it property or politics in case you don't know that. To have you posting the message implicitly or explicitly that it is ok for govt to blow away $200 million of our money n we should just move on is a dangerous way of thinking n insinuating the wrong values of citizenship. Firstly, the minister has admitted to spending over the budget and you choose to accept that and move on? To be reasonable, overspending by a few million can be stomached, but $200+million and your message is to just forget it and move on? My purpose of flagging this issue up is to let you know that it is not forgotten n justice has not been done. I dread to think what the country would become if everyone thinks that it is ok for ministers to just blow hundreds of millions of dollars of people's money and just be allowed move on without any accountability. By the way, the article on ministerial responsibility is fundamental to common law countries like Singapore that adopt the Westminster style of government, your nonchalance to that or your lack of knowledge simply shows your ignorance.
Bro, there is no point shouting in this property forum unless you decide to take any legal actions against whoever to make them accountable for that over budgetting of $200million for YOG.
You to sue to the govt/Minister to make them accountable or join the opposition party to bring up this over budgetting matter?
I am neutral to this matter and this does not imply i think $200million over budgetting is not an issue. But i choose to move on.
And i dont really need to read such article to understand ministerial accountability. This is not a political/about singapore forum. Perhaps realsingapore - complaint section can be a better channel for you to vent your frustration.
You can be right or you can be rich. Up to you really. :o
I am surprised at your nonchalant attitude towards the $200+ million blown away unless you are a foreigner of course. This forum has morphed into a forum for all sorts of conversation be it property or politics in case you don't know that. To have you posting the message implicitly or explicitly that it is ok for govt to blow away $200 million of our money n we should just move on is a dangerous way of thinking n insinuating the wrong values of citizenship. Firstly, the minister has admitted to spending over the budget and you choose to accept that and move on? To be reasonable, overspending by a few million can be stomached, but $200+million and your message is to just forget it and move on? My purpose of flagging this issue up is to let you know that it is not forgotten n justice has not been done. I dread to think what the country would become if everyone thinks that it is ok for ministers to just blow hundreds of millions of dollars of people's money and just be allowed move on without any accountability. By the way, the article on ministerial responsibility is fundamental to common law countries like Singapore that adopt the Westminster style of government, your nonchalance to that or your lack of knowledge simply shows your ignorance.
Another XENOPHOBIC.
Patrickstar
23-02-14, 12:49
How am I xenophobic? Anything wrong in saying that foreigners won't care about our govt losing our nation's money more than singaporeans?
Another XENOPHOBIC.
I am surprised at your nonchalant attitude towards the $200+ million blown away unless you are a foreigner of course. This forum has morphed into a forum for all sorts of conversation be it property or politics in case you don't know that. To have you posting the message implicitly or explicitly that it is ok for govt to blow away $200 million of our money n we should just move on is a dangerous way of thinking n insinuating the wrong values of citizenship. Firstly, the minister has admitted to spending over the budget and you choose to accept that and move on? To be reasonable, overspending by a few million can be stomached, but $200+million and your message is to just forget it and move on? My purpose of flagging this issue up is to let you know that it is not forgotten n justice has not been done. I dread to think what the country would become if everyone thinks that it is ok for ministers to just blow hundreds of millions of dollars of people's money and just be allowed move on without any accountability. By the way, the article on ministerial responsibility is fundamental to common law countries like Singapore that adopt the Westminster style of government, your nonchalance to that or your lack of knowledge simply shows your ignorance.
What right do you have to attack someone for making his views on this forum??!!
I am surprised at your nonchalant attitude towards the $200+ million blown away unless you are a foreigner of course. This forum has morphed into a forum for all sorts of conversation be it property or politics in case you don't know that. To have you posting the message implicitly or explicitly that it is ok for govt to blow away $200 million of our money n we should just move on is a dangerous way of thinking n insinuating the wrong values of citizenship. Firstly, the minister has admitted to spending over the budget and you choose to accept that and move on? To be reasonable, overspending by a few million can be stomached, but $200+million and your message is to just forget it and move on? My purpose of flagging this issue up is to let you know that it is not forgotten n justice has not been done. I dread to think what the country would become if everyone thinks that it is ok for ministers to just blow hundreds of millions of dollars of people's money and just be allowed move on without any accountability. By the way, the article on ministerial responsibility is fundamental to common law countries like Singapore that adopt the Westminster style of government, your nonchalance to that or your lack of knowledge simply shows your ignorance.
What right do one have to attack someone for making his views on this forum??!! Seriously, if you really want to pursue the matter, shouting in this forum will not get you anywhere. Please do us a favor by getting yourself elected and question the minister in parliament.
Patrickstar
23-02-14, 13:31
Attack? A few exchanges and you call that attack? Don't think you are such a wuss as Anton Casey puts it. Don't prove him right please.
So you have been brainwashed to think that only elected members in parliament can air their displeasures about govt? So you are implying that ordinary citizens have no right to air their views about the govt in the forum? Who are you to say n imply that?
What right do one have to attack someone for making his views on this forum??!! Seriously, if you really want to pursue the matter, shouting in this forum will not get you anywhere. Please do us a favor by getting yourself elected and question the minister in parliament.
Attack? A few exchanges and you call that attack? Don't think you are such a wuss as Anton Casey puts it. Don't prove him right please.
So you have been brainwashed to think that only elected members in parliament can air their displeasures about govt? So you are implying that ordinary citizens have no right to air their views about the govt in the forum? Who are you to say n imply that?
Do us a favour. Don't just be a keyboard warrior. Organise a protest at hong lim park. See u there.
Patrickstar
23-02-14, 14:13
You know the difference between protesting at hong lim n writing in forum? When I post in forum, many can enjoy reading my posts over a prolonged period of time. When I protest at hong lim, only people who go down to hong lim get to listen. Welcome to the Internet if you don't already know its usefulness.
Do us a favour. Don't just be a keyboard warrior. Organise a protest at hong lim park. See u there.
You know the difference between protesting at hong lim n writing in forum? When I post in forum, many can enjoy reading my posts over a prolonged period of time. When I protest at hong lim, only people who go down to hong lim get to listen. Welcome to the Internet if you don't already know its usefulness.
Actually you can consider doing both - protest at hong lim and post in forum. That way you corner all parties. After you get enough popularity, then you can join or form a new opposition and if majority believe in you then you can form a govt and take whoever at fault to task.
Patrickstar
23-02-14, 14:59
40+% of our population who are against govt policy have to become govt to voice grievances against wrong policies? Is the parliament big enough to accommodate more than a million singaporeans? Before you post anything, please think :rolleyes:
Actually you can consider doing both - protest at hong lim and post in forum. That way you corner all parties. After you get enough popularity, then you can join or form a new opposition and if majority believe in you then you can form a govt and take whoever at fault to task.
http://www.youtube.com/watch?v=gWtrbGWixRQ
We need the GREEK type of government, property price will be very cheap.
http://www.youtube.com/watch?v=HZc6oD0WfW8
Disagreed. Greek properties? Will u buy? Properties which are cheap n cant even appreciate are wasting our time.
http://www.youtube.com/watch?v=gWtrbGWixRQ
We need the GREEK type of government, property price will be very cheap.
http://www.youtube.com/watch?v=HZc6oD0WfW8
I suggest you to be a politician, show us your mighty knowledge and capability as an unbiased political leader. Then educate all of us here in this forum and influence all of us. And you will gain my respect. In fact, you should already do so back in 2010 to be serious about this matter and not until 2014.
If not, venting all your frustrations over here in this forum and lecturing every one of us in this forum does not earn any respect from me. :sleep:
As said in my initial comment and repeated for the fourth time in case if you missed it earlier, $200million overbudgeting for YOG was not something every Singaporeans including myself are happy about it. It's a hard pain. I think govt should spend more instead on Singaporeans to lighten our burden in medical, education, COE and housing of course.
Why i choose on is because i am just an average Singaporean who is happy that i am a Singaporean but i know politics is not my cup of tea and such matter is not within my locus of control or focus.
Please do not twist my words anyhow just because i choose to move on and you want to prove me wrong or ignorance. We should learn to respect each other. :rolleyes:
I am surprised at your nonchalant attitude towards the $200+ million blown away unless you are a foreigner of course. This forum has morphed into a forum for all sorts of conversation be it property or politics in case you don't know that. To have you posting the message implicitly or explicitly that it is ok for govt to blow away $200 million of our money n we should just move on is a dangerous way of thinking n insinuating the wrong values of citizenship. Firstly, the minister has admitted to spending over the budget and you choose to accept that and move on? To be reasonable, overspending by a few million can be stomached, but $200+million and your message is to just forget it and move on? My purpose of flagging this issue up is to let you know that it is not forgotten n justice has not been done. I dread to think what the country would become if everyone thinks that it is ok for ministers to just blow hundreds of millions of dollars of people's money and just be allowed move on without any accountability. By the way, the article on ministerial responsibility is fundamental to common law countries like Singapore that adopt the Westminster style of government, your nonchalance to that or your lack of knowledge simply shows your ignorance.
40+% of our population who are against govt policy have to become govt to voice grievances against wrong policies? Is the parliament big enough to accommodate more than a million singaporeans? Before you post anything, please think :rolleyes:
Did I say 40+% of population to become govt? Before you reply, please read :rolleyes:
Patrickstar
23-02-14, 20:25
You were suggesting that only those in govt can voice displeasure against ministerial action, so wouldn't it be the case that you are also suggesting the same thing to 40% of singaporean voters (numbering to 1 million+) who voice displeasure against govt n choose to vote for opposition? So I ask you whether there are that many seats in parliament to house one million over dissenters who wish to voice displeasure against govt policies. Didn't realise I need to spell things out so clearly to you before you get it :doh:
Did I say 40+% of population to become govt? Before you reply, please read :rolleyes:
Patrickstar
23-02-14, 20:36
Why does one need to be politician to discuss politics and voice dissent? By the mere fact that we are citizens of a country with voting rights, we are already political beings that have every right to question govt decisions. You going to argue this is not the right place? Go and read through most of the threads in this forum, almost everyone is discussing politics here in some form or another, even talking about property cooling measures involve politics. You not happy with politics then you may want to find yourself a no man's land to live.
I suggest you to be a politician, show us your mighty knowledge and capability as an unbiased political leader. Then educate all of us here in this forum and influence all of us. And you will gain my respect. In fact, you should already do so back in 2010 to be serious about this matter and not until 2014.
If not, venting all your frustrations over here in this forum and lecturing every one of us in this forum does not earn any respect from me. :sleep:
As said in my initial comment and repeated for the fourth time in case if you missed it earlier, $200million overbudgeting for YOG was not something every Singaporeans including myself are happy about it. It's a hard pain. I think govt should spend more instead on Singaporeans to lighten our burden in medical, education, COE and housing of course.
Why i choose on is because i am just an average Singaporean who is happy that i am a Singaporean but i know politics is not my cup of tea and such matter is not within my locus of control or focus.
Please do not twist my words anyhow just because i choose to move on and you want to prove me wrong or ignorance. We should learn to respect each other. :rolleyes:
You were suggesting that only those in govt can voice displeasure against ministerial action, so wouldn't it be the case that you are also suggesting the same thing to 40% of singaporean voters (numbering to 1 million+) who voice displeasure against govt n choose to vote for opposition? So I ask you whether there are that many seats in parliament to house one million over dissenters who wish to voice displeasure against govt policies. Didn't realise I need to spell things out so clearly to you before you get it :doh:
My my.... Did I suggest that only those in govt can voice displeasure? Didn't I suggest that you can voice displeasure at Hong Lim and forum?
You put words into my mouth and all the wrong ones too.
Didn't realize I need to explain it so clearly to you and maybe you still don't get it :doh::doh::doh:
Anyway you win ok? You are the best. My time better spent elsewhere :sleep:
Patrickstar
23-02-14, 21:08
Think you have really short term memory. Go n read your own post below. You suggesting ordinary folks have no right to take ministers to task n have to form govt first? What rubbish are you insinuating here, please clarify.
Actually you can consider doing both - protest at hong lim and post in forum. That way you corner all parties. After you get enough popularity, then you can join or form a new opposition and if majority believe in you then you can form a govt and take whoever at fault to task.
It is because a politician can make decisions and harness views/votes national wide and not just this forum while a voter just simply vote. It's your right to voice dissent and vote what you think it is correct. I did'nt say you can't. What i said before is, dont just call people ignorance and lack of knowledge if you wish to influence him/her.
If you choose to influence or convince me, then be a politician and not just a voter or what others in this thread say being a keyboard warrior. I like this term "keyboard warrior", that's pretty innovative.
But please do not twist my words again. I already said i am happy to be a Singaporean and to live in Singapore happily. Politics is not my cup of tea does not mean that i am/not happy with politics and have to live in no man land.
Why does one need to be politician to discuss politics and voice dissent? By the mere fact that we are citizens of a country with voting rights, we are already political beings that have every right to question govt decisions. You going to argue this is not the right place? Go and read through most of the threads in this forum, almost everyone is discussing politics here in some form or another, even talking about property cooling measures involve politics. You not happy with politics then you may want to find yourself a no man's land to live.
How am I xenophobic? Anything wrong in saying that foreigners won't care about our govt losing our nation's money more than singaporeans?
Frankly wat do foreigners have to do with this blame thing SINGAPOREAN like to blame. Next is bring in Foreigners to blame. What next race?
Anyway u didn't say foreigners don't care. U just assume anyone who don't agrees with ur narrow view as being foreigners. That's XENOPHOBIC.
You know the difference between protesting at hong lim n writing in forum? When I post in forum, many can enjoy reading my posts over a prolonged period of time. When I protest at hong lim, only people who go down to hong lim get to listen. Welcome to the Internet if you don't already know its usefulness.
Why not u go tatto it on ur back . Everyone can read if off line an online.? And it will there forever too.
Patrickstar
24-02-14, 11:12
If you travel to japan for a holiday and hear people talking about abe overspending their national budget on hosting a world conference, this piece of news going to spoil your holiday? :doh: Likewise, why would foreigners care about us overspending on yog?
Frankly wat do foreigners have to do with this blame thing SINGAPOREAN like to blame. Next is bring in Foreigners to blame. What next race?
Anyway u didn't say foreigners don't care. U just assume anyone who don't agrees with ur narrow view as being foreigners. That's XENOPHOBIC.
If you travel to japan for a holiday and hear people talking about abe overspending their national budget on hosting a world conference, this piece of news going to spoil your holiday? :doh: Likewise, why would foreigners care about us overspending on yog?
sure.. but we are talking abt it here in singapore. So what do accusing people who don't agree with u as being foreigner help with ur justification ? U are missing it way of point.
So like u say. every olympics in the world is waste of $. So why are all the countries fighting to host it? u mean so many carrots?
Patrickstar
24-02-14, 12:32
If people are nonchalant to $200 million of singaporeans' money being blown away, they could well be foreigners, just as singaporeans are not bothered about internal politics of other countries that don't affect us.
Many countries are fighting to host the Olympics, not Youth Olympics, get that right. As mentioned, the youth Olympics isn't worth $300 million of our monies, high estimate was just $90 million. Nobody told sg to spend $300 million but our govt chose to, turning singapore into a giant carrothead
sure.. but we are talking abt it here in singapore. So what do accusing people who don't agree with u as being foreigner help with ur justification ? U are missing it way of point.
So like u say. every olympics in the world is waste of $. So why are all the countries fighting to host it? u mean so many carrots?
If people are nonchalant to $200 million of singaporeans' money being blown away, they could well be foreigners, just as singaporeans are not bothered about internal politics of other countries that don't affect us.
Why can't Singaporeans be nonchalant about this?
Why can't Singaporeans be not bothered about this?
Why not? :)
From my understanding, only 12% of tax residents pay 80% of tax in YA 2012. Going by 80-20 rule, only 12 out of 100 folks would be concerned. Also, if the Budget 2014 is a guide, income tax is only 13.4% of the total income.
So, it is not surprising to me at all that 88% of the population is apathy of how much wastage there is, as long as the wastage is not charged to me... of course, this is just my opinion.... :)
Sources:
http://tinyurl.com/lluhatc
http://tinyurl.com/k5x9cwu
http://i60.tinypic.com/207qipw.jpg
http://i62.tinypic.com/309ojr4.jpg
Patrickstar
24-02-14, 16:32
If only 12% are paying 88% of taxes then who is to be blamed for majority of workers who can't meet the minimum taxable threshold? Depressed wages n refusal to have some form of wage protection for workers are issues you also need to consider. People can understand why majority of the people are not paying taxes not that they are nonchalant about it. There are broader issues to tackle when dealing with labour n wages that ultimately affects taxes govt collect. In any case other forms of taxes n revenue streams like gst, stamp duties from pty, erp etc are meant to make up for loss of taxes in other areas.
The $300 million down the drain for yog is a very different issue here. The decision to spend that money has totally nothing to do with the micro economic factors in the country. Even totally doing without yog does not disadvantage us in any way nor does it increase our global economic advantage in any way. For something that we can do without 100%, it pains me to see our nation's money being squandered in this manner. It is totally warped logic from some forumers who say that just because we can afford to lose that money, therefore it is alright for the minister involved to make that mistake and let him move on.
Why can't Singaporeans be nonchalant about this?
Why can't Singaporeans be not bothered about this?
Why not? :)
From my understanding, only 12% of tax residents pay 80% of tax in YA 2012. Going by 80-20 rule, only 12 out of 100 folks would be concerned. Also, if the Budget 2014 is a guide, income tax is only 13.4% of the total income.
So, it is not surprising to me at all that 88% of the population is apathy of how much wastage there is, as long as the wastage is not charged to me... of course, this is just my opinion.... :)
Sources:
http://tinyurl.com/lluhatc
http://tinyurl.com/k5x9cwu
http://i60.tinypic.com/207qipw.jpg
http://i62.tinypic.com/309ojr4.jpg
If only 12% are paying 88% of taxes then who is to be blamed for majority of workers who can't meet the minimum taxable threshold? Depressed wages n refusal to have some form of wage protection for workers are issues you also need to consider. People can understand why majority of the people are not paying taxes not that they are nonchalant about it. There are broader issues to tackle when dealing with labour n wages that ultimately affects taxes govt collect. In any case other forms of taxes n revenue streams like gst, stamp duties from pty, erp etc are meant to make up for loss of taxes in other areas.
The $300 million down the drain for yog is a very different issue here. The decision to spend that money has totally nothing to do with the micro economic factors in the country. Even totally doing without yog does not disadvantage us in any way nor does it increase our global economic advantage in any way. For something that we can do without 100%, it pains me to see our nation's money being squandered in this manner. It is totally warped logic from some forumers who say that just because we can afford to lose that money, therefore it is alright for the minister involved to make that mistake and let him move on.
How broken can your weak argument be. because 12% paying 88% of tax means under paid? LOL!!!!
if 80% is paying 12% of tax see how many people will cry.
Serious Chea Mea! Complain for sake of complain!
If people are nonchalant to $200 million of singaporeans' money being blown away, they could well be foreigners, just as singaporeans are not bothered about internal politics of other countries that don't affect us.
Many countries are fighting to host the Olympics, not Youth Olympics, get that right. As mentioned, the youth Olympics isn't worth $300 million of our monies, high estimate was just $90 million. Nobody told sg to spend $300 million but our govt chose to, turning singapore into a giant carrothead
I am Singaporean and I dont see wtf is the issue with 200M! for a Olympic event. Its Cheap!
U are a XENOPHOBIC!
Patrickstar
24-02-14, 21:41
Obviously if you can't even meet the minimum threshold to pay income tax, you consider yourself well paid? Use your brains lah :doh:
How broken can your weak argument be. because 12% paying 88% of tax means under paid? LOL!!!!
if 80% is paying 12% of tax see how many people will cry.
Serious Chea Mea! Complain for sake of complain!
Patrickstar
24-02-14, 21:48
You still don't know the difference between the main Olympics and youth Olympics? You suggesting they are equal? If I am xenophobic then I think you must be a fake singaporean. :doh:
I am Singaporean and I dont see wtf is the issue with 200M! for a Olympic event. Its Cheap!
U are a XENOPHOBIC!
If only 12% are paying 88% of taxes then who is to be blamed for majority of workers who can't meet the minimum taxable threshold? Depressed wages n refusal to have some form of wage protection for workers are issues you also need to consider. People can understand why majority of the people are not paying taxes not that they are nonchalant about it. There are broader issues to tackle when dealing with labour n wages that ultimately affects taxes govt collect. In any case other forms of taxes n revenue streams like gst, stamp duties from pty, erp etc are meant to make up for loss of taxes in other areas.
This is a very good question and I invite you to read the Wealth of Nations. With your objective views and perspective, you might find your current line of thinking a bit confusing, although you have listed some facts which are very true.
The confusing part is which facts are the causes and which facts are the effects? It can be quite confusing and takes a clear mind to think through...
best to start with a big cup of kopi siew dai. :)
http://en.wikipedia.org/wiki/The_Wealth_of_Nations
The $300 million down the drain for yog is a very different issue here. The decision to spend that money has totally nothing to do with the micro economic factors in the country. Even totally doing without yog does not disadvantage us in any way nor does it increase our global economic advantage in any way. For something that we can do without 100%, it pains me to see our nation's money being squandered in this manner. It is totally warped logic from some forumers who say that just because we can afford to lose that money, therefore it is alright for the minister involved to make that mistake and let him move on.
My opinion is that this is a marketing event and whether the returns justify the investment, it is hard to quantify. Sometimes, no amount of money can generate the publicity one gets. Will the publicity brings in real economic gains? That would be quite tough to gauge. If for e.g. some rich man son came and brings along the daddy who then starts up a multi-million business hiring 200 Singaporeans, who support 200 families with good jobs and pro-create 400 babies. After that, the rich man brings along more of his like-minded friends and create more hundreds of babies, I think it would be a fantastic return on investment. :D
However, from the reports that I have read in the papers, it seems quite a few Singaporeans had an experience which is the "MasterCard" moment - priceless. Whether the moment is positive (boy chasing after the torch) or negative (was the "thank you" makan super lousy?), the experience would be remembered for a lifetime and it becomes part of Singapore history. The youth in 2010 can tell their grandkids in 2070, that well, "I was there". ;)
So, what is my stand? Is YOG a good investment? Who cares?! I will be long gone by 2070! :)
However, from the reports that I have read in the papers, it seems quite a few Singaporeans had an experience which is the "MasterCard" moment - priceless. Whether the moment is positive (boy chasing after the torch) or negative (was the "thank you" makan super lousy?), the experience would be remembered for a lifetime and it becomes part of Singapore history. The youth in 2010 can tell their grandkids in 2070, that well, "I was there". ;)
So, what is my stand? Is YOG a good investment? Who cares?! I will be long gone by 2070! :)
:cheers4: I was there with my daughter in one event and I saw many supporters for the foreign contestants. At least we managed to attract them here and who knows maybe they will come again or invest here?
How can we calculate everything based on $ returned? :doh:
How many museums in London don't charge an entry fee?
It is folly assumption to think that wastage is not charge to you!
What is GST for then?
GST is to tax you and anybody as long you are breathing and alive, regardless of whether you are jobless, old, sicked, disabled, young will no earning ability etc! GST don't care how pitiful you are, just tax you as long as you are breathing and alive and need to eat and drink water! :banghead:
Why can't Singaporeans be nonchalant about this?
Why can't Singaporeans be not bothered about this?
Why not? :)
From my understanding, only 12% of tax residents pay 80% of tax in YA 2012. Going by 80-20 rule, only 12 out of 100 folks would be concerned. Also, if the Budget 2014 is a guide, income tax is only 13.4% of the total income.
So, it is not surprising to me at all that 88% of the population is apathy of how much wastage there is, as long as the wastage is not charged to me... of course, this is just my opinion.... :)
Sources:
http://tinyurl.com/lluhatc
http://tinyurl.com/k5x9cwu
http://i60.tinypic.com/207qipw.jpg
http://i62.tinypic.com/309ojr4.jpg
Patrickstar
24-02-14, 23:20
You may wish to read the part in red. Market forces require govt intervention to reach some level of equilibrium. These so called stupid n ignorant people that adam smith chooses to label will remain as the impoverished if govt choose to have it that way. If you read the part on labour n wages, who then do you think creates the competition in the labour force for wages to be depressed?
Excerpt from wealth of the nation: ..."the understandings of the greater part of men are necessarily formed by their ordinary employments. The man whose whole life is spent in performing a few simple operations, of which the effects are perhaps always the same, or very nearly the same, has no occasion to exert his understanding or to exercise his invention in finding out expedients for removing difficulties which never occur. He naturally loses, therefore, the habit of such exertion, and generally becomes as stupid and ignorant as it is possible for a human creature to become. The torpor of his mind renders him not only incapable of relishing or bearing a part in any rational conversation, but of conceiving any generous, noble, or tender sentiment, and consequently of forming any just judgment concerning many even of the ordinary duties of private life... But in every improved and civilized society this is the state into which the laboring poor, that is, the great body of the people, must necessarily fall, unless government takes some pains to prevent it."
Your idea of spending $300 million on a major marketing campaign still doesn't justify the overspent portion of $200 million. The contention is not spending, but overspending by a huge amount. Constitutionally, the minister responsible for such major blunders should get sacked so why not? Shouldn't it be the case of the higher the pay, the greater the duty of care?
Enjoy reading about one of the most fundamental concepts of constitutional law still studied in the NUS law faculty today.
http://en.m.wikipedia.org/wiki/Individual_ministerial_responsibility
This is a very good question and I invite you to read the Wealth of Nations. With your objective views and perspective, you might find your current line of thinking a bit confusing, although you have listed some facts which are very true.
The confusing part is which facts are the causes and which facts are the effects? It can be quite confusing and takes a clear mind to think through...
best to start with a big cup of kopi siew dai. :)
http://en.wikipedia.org/wiki/The_Wealth_of_Nations
My opinion is that this is a marketing event and whether the returns justify the investment, it is hard to quantify. Sometimes, no amount of money can generate the publicity one gets. Will the publicity brings in real economic gains? That would be quite tough to gauge. If for e.g. some rich man son came and brings along the daddy who then starts up a multi-million business hiring 200 Singaporeans, who support 200 families with good jobs and pro-create 400 babies. After that, the rich man brings along more of his like-minded friends and create more hundreds of babies, I think it would be a fantastic return on investment. :D
However, from the reports that I have read in the papers, it seems quite a few Singaporeans had an experience which is the "MasterCard" moment - priceless. Whether the moment is positive (boy chasing after the torch) or negative (was the "thank you" makan super lousy?), the experience would be remembered for a lifetime and it becomes part of Singapore history. The youth in 2010 can tell their grandkids in 2070, that well, "I was there". ;)
So, what is my stand? Is YOG a good investment? Who cares?! I will be long gone by 2070! :)
Patrickstar
24-02-14, 23:31
How naive can you be, so based on your logic all those host countries for youth Olympics will have foreign spectators going back to invest in those countries? If I go England n China to watch Olympics means I going to invest in England n China? You might as well say the whole world will invest in Africa since they watch world cup hosted by Africa. Look at greece that hosted Olympics before, is their economy doing well because of Olympics? Moreover these countries I mentioned were hosting the main Olympics, not some silly juvenile Olympics with kids competing. :doh: :doh: :doh:
:cheers4: I was there with my daughter in one event and I saw many supporters for the foreign contestants. At least we managed to attract them here and who knows maybe they will come again or invest here?
How naive can you be, so based on your logic all those host countries for youth Olympics will have foreign spectators going back to invest in those countries? If I go England n China to watch Olympics means I going to invest in England n China? You might as well say the whole world will invest in Africa since they watch world cup hosted by Africa. Look at greece that hosted Olympics before, is their economy doing well because of Olympics? Moreover these countries I mentioned were hosting the main Olympics, not some silly juvenile Olympics with kids competing. :doh: :doh: :doh:
Aiyo, you know what is marketing or not? If you see a beautiful picture of a country and you visit it because of that then that place has won your money cos once you are there you will spend some money there right?
I am sure you go on holidays. You have limited money and time, so how do you choose your holiday destination? I am sure you don't just go to a travel agency, point randomly on the map and say you want to go there right?
Talk about World Cup at South Africa, notice they show lots of places of interest of that place. If people flock there because of the pics then their marketing has succeeded.
Greece has a lot of problems that are well discussed so I won't discuss here. To just blame it on Olympics is not fair.
And don't belittle kids lah, they are the future champions. You think the current messi and Ronaldos just popped up from thin air?
Patrickstar
25-02-14, 00:08
I didn't know your idea of an ideal holiday destination is a country that has hosted the youth Olympics. If you ask 1000 people visiting the natas fair how many are visiting a country because it has hosted the youth Olympics, I think you will be disappointed. It is the same for Africa, majority of holiday goers in the years ahead don't go africa because of world cup but because of the rich natural landscape n wildlife. $300 million is money into the drain as simple as that. The cost far outweighs the benefit to our economy.
Aiyo, you know what is marketing or not? If you see a beautiful picture of a country and you visit it because of that then that place has won your money cos once you are there you will spend some money there right?
I am sure you go on holidays. You have limited money and time, so how do you choose your holiday destination? I am sure you don't just go to a travel agency, point randomly on the map and say you want to go there right?
Talk about World Cup at South Africa, notice they show lots of places of interest of that place. If people flock there because of the pics then their marketing has succeeded.
Greece has a lot of problems that are well discussed so I won't discuss here. To just blame it on Olympics is not fair.
And don't belittle kids lah, they are the future champions. You think the current messi and Ronaldos just popped up from thin air?
I didn't know your idea of an ideal holiday destination is a country that has hosted the youth Olympics. If you ask 1000 people visiting the natas fair how many are visiting a country because it has hosted the youth Olympics, I think you will be disappointed. It is the same for Africa, majority of holiday goers in the years ahead don't go africa because of world cup but because of the rich natural landscape n wildlife. $300 million is money into the drain as simple as that. The cost far outweighs the benefit to our economy.
I realize that you like to twist words and also select a part of the phrase and exaggerate it out of proportion.
Since when did I say an ideal holiday destination is a country that has hosted the youth Olympics?
And talking about South Africa and World Cup, did you watch the game on TV? Did you notice the adverts during the transmission? Other than seeing some places that attracts you, you may also develop an idea about the place, that it has rich natural landscape and wildlife. But if you ask me how many people will actually go to South Africa because of the adverts they see on TV, I don't know. Their tourist board people may do the estimates. But that is what marketing is about.
You still don't know the difference between the main Olympics and youth Olympics? You suggesting they are equal? If I am xenophobic then I think you must be a fake singaporean. :doh:
U are a true blue xenophobic. Wat a loser
It is folly assumption to think that wastage is not charge to you!
What is GST for then?
GST is to tax you and anybody as long you are breathing and alive, regardless of whether you are jobless, old, sicked, disabled, young will no earning ability etc! GST don't care how pitiful you are, just tax you as long as you are breathing and alive and need to eat and drink water! :banghead:
Here come another xenophobic who expect everying to be free.
http://www.channelnewsasia.com/image/1029182/1394551048000/large16x9/768/432/punggol-regional-sports.jpg
By Patwant Singh
POSTED: 11 Mar 2014 23:15
The government is committing S$1.5 billion to provide community-based facilities under the Sports Facilities Master Plan, announced Acting Minister for Culture, Community and Youth Lawrence Wong in Parliament on Tuesday.
SINGAPORE: The government is committing S$1.5 billion to provide community-based facilities under the Sports Facilities Master Plan.
Acting Minister for Culture, Community and Youth Lawrence Wong said in Parliament on Tuesday that the first phase will include a mix of new facilities as well as rejuvenating existing ones.
The latest figure is on top of the S$1.2 billion for operational costs over five years, announced last year.
Some of the projects include the Punggol Regional Sports Centre, which will be integrated with Punggol's waterways and co-located with the SAFRA clubhouse.
The existing Ang Mo Kio Swimming Complex will be redeveloped into the Ang Mo Kio Wet Play Field.
Another project, the Town Sports and Recreation Centre in Sembawang, will be part of a one-stop community hub.
Jurong Spring and Boon Lay will be part of the pilot Sports-in-Precinct programme, featuring sheltered playing areas, multi-use courts and new materials.
"These are just examples and we will work out the plans for the other towns. We will not stop at Phase One… (and will include) Yishun, which Dr Lee (Bee Wah) had asked for," said Mr Wong.
A new national movement for sports, called ActiveSG, will also be launched.
This is part of continuing efforts to beef up sports programming in the community and promote Singaporeans' interest in sports.
Mr Wong said: "We will work with NSAs (National Sports Associations), corporate groups and other partners to create these sporting programmes together.
"I believe ActiveSG will strengthen ties within and between communities. It will gather neighbours, loved ones or perhaps even rivals to train and compete in a variety of sports."
- CNA/ec
http://transport.asiaone.com/news/general/story/lta-buys-91-trains-thomson-eastern-region-lines-749-million
LTA buys 91 trains for Thomson, Eastern Region lines for $749 million
LTA awards four Thomson Line contracts worth $1.13 billion
SINGAPORE - The 30km, 22-station Thomson Line will be completed in three stages from 2019 to 2021 and run from Woodlands to Gardens by the Bay.
Get the full story from The Straits Times.
Here is the statement released today by the Land Transport Authority:
LTA Awards Four Contracts for Thomson Line's Orchard Boulevard, Great World, Outram Park and Shenton Way Stations
Construction works for these four stations to commence second quarter of 2014 and scheduled to complete by 2021.
The Land Transport Authority (LTA) has awarded four civil contracts, T218, T220, T222 and T225 with a total value of around $1.13 billion.
Scope of Contracts
The construction of Orchard Boulevard station (T218) has been awarded to KTC Civil Engineering & Construction Pte Ltd at a contract sum of approximately $143 million. KTC Civil Engineering & Construction Pte Ltd is a construction company established in Singapore since 1988. KTC Civil Engineering & Construction Pte Ltd has undertaken numerous civil engineering projects such as transit projects, road works projects, bus depot, expressways and earthwork projects in Singapore. KTC Civil Engineering & Construction Pte Ltd is currently involved in the construction of Downtown Line 3's Tampines Station.
Contract T220 for the construction of Great World station and its associated tunnels has been awarded to Tiong Seng Contractor (Pte) Ltd - Dongah Geological Engineering Co., Ltd (Singapore Branch) Joint Venture for a contract sum of approximately $316 million. Tiong Seng Contractor (Pte) Ltd is one of the leading building construction and civil engineering contractors in Singapore established since 1964. Tiong Seng Contractor (Pte) Ltd has undertaken numerous civil engineering projects such as Jurong Pier Flyover and Kim Chuan Link Sewer.
Tiong Seng Contractor (Pte) Ltd is currently involved in the construction of Downtown Line 2's Hillview and Cashew Stations. Their joint venture partner, Dongah Geological Engineering Co., Ltd (Singapore Branch) is a Korean construction company set up in 1971. They have been involved in several LTA projects such as the Marina Coastal Expressway and Downtown Line as specialist contractors.
The construction of Outram Park station (T222) and its associated tunnels has been awarded to Daelim Industrial Co. Ltd at a contract sum of approximately $301 million. Daelim Industrial Co. Ltd (Daelim) is a Korean company established in 1939. As one of the top construction and engineering companies in Korea, Daelim has undertaken numerous subways and high speed railway projects in Korea, e.g. Daegu Metropolitan Railway, Seoul Subway and Honam High-Speed Railway. Daelim was also part of the joint venture involved in the design and construction of Marina Coastal Expressway.
Outram Park station will be an interchange station connecting the Thomson Line with the East-West and North East Lines, allowing commuters to enjoy connectivity between the northern, central, eastern and western parts of Singapore.
The construction of Shenton Way station (T225) and its associated tunnels has been awarded to Shanghai Tunnel Engineering Co., Ltd at a contract sum of approximately S$368 million. Shanghai Tunnel Engineering Co., Ltd is a China company with extensive experience in transit projects in Singapore. They are currently involved in a number of LTA's projects including the design and construction of Newton station and associated tunnels for Downtown Line 2, the construction of tunnels between Tampines East station and Upper Changi station for Downtown Line 3 and the construction of Gul Circle station and viaducts for Tuas West Extension.
About Thomson Line
The 30-km long Thomson Line will enhance rail connectivity in the north-south corridors to the Central Business District (CBD) and developments in the Marina Bay area.
Fully underground, Thomson Line comprises 22 stations, including six interchange stations: Woodlands, Caldecott, Stevens, Orchard, Outram Park and Marina Bay. These interchange stations will link to the North-South-East-West Line (NSEWL), Downtown Line (DTL), North-East Line (NEL) and Circle Line (CCL), providing greater accessibility and significantly improve travel time for commuters.
https://sg.news.yahoo.com/singapore-defers-public-works-slow-124028262.html
Singapore said Wednesday it would defer about Sg$2 billion ($1.6 billion) worth of government infrastructure projects to slow the intake of migrant labourers amid public concern over immigration in the city-state.
Prime Minister Lee Hsien Loong told parliament the move was part of measures to limit the inflow of foreign workers to "a level which is sustainable and which we can physically accommodate in Singapore in the long term".
Lee said the government would continue "full steam ahead" with building more public housing and improving transport infrastructure, but would hold off on less critical projects for one or two years.
The long-ruling People's Action Party has tightened migrant inflows since suffering its worst showing in a 2011 general election, in which the large foreigner presence was a big issue.
"The private sector, they make their decisions," Lee said.
But "the government, we are a significant part of the construction business, and we ask ourselves which government projects need to be built (and) which projects can be deferred," he said.
"We can spread out the demand for construction workers, and then you will be able to manage the total number of construction workers in Singapore."
Lee said among the projects to be deferred are an extension of the Gardens by the Bay botanical complex and a new science centre.
The deferred projects would reduce the number of foreign workers needed by about 20,000 to 30,000, he said.
Lee said the government would also monitor the inflow of foreign professional workers to ensure that Singaporeans get a fair chance at jobs in some fields.
Singapore's low birth rate prompted the government to grant an average of 18,500 new citizenships every year between 2008 to 2012 -- helping the population surge by 30 percent since 2004 to 5.4 million last year.
Out of a foreign population of 1.55 million, about 700,000 are mainly Asian work-permit holders employed in construction, marine industries and other sectors shunned by Singaporeans. Some 200,000 others work as domestic helpers.
Singaporeans have accused foreigners of competing with them for jobs, housing, schools, medical care and space on public transport.
Some have also complained that the rapid influx in previous years is eroding national identity.
http://www.todayonline.com/sites/default/files/styles/photo_gallery_image_lightbox/public/20553984.JPG?itok=KbOHdHva
A joint venture between Woh Hup and Obayashi Singapore has been appointed main construction contractor for the upcoming retail and leisure attraction, as well as for the expansion of Terminal 1.
SINGAPORE: Changi Airport Group (CAG) announced on Tuesday (Oct 28) that a S$1.57 billion contract has been awarded to a joint venture formed between Woh Hup (Private) Limited and Obayashi Singapore Private Limited for the construction of Project Jewel and expansion works at Terminal 1 (T1).
The construction joint venture will be working with the Jewel Changi Airport Trustee (JCAT) and CAG on proposed construction work, including the redevelopment of the 3.5 hectare open-air carpark site fronting T1, CAG said in a media release.
Project Jewel, a mixed-used development, will feature a dome-shaped facade made of glass and steel. The 1.4 million square feet complex will also have a 40-metre waterfall and a large-scale indoor garden, in addition to leisure attractions, retail stores, and hotel facilities. New pedestrian bridges linking Project Jewel to Terminals 2 and 3 will be built as well.
T1 will be expanded to include a larger Arrival Hall and more spacious baggage claim areas following the redevelopment of the open-air car park. A five-storey basement car park and additional taxi bays will also be developed, while the terminal's Departure drop-off bay and Arrival pick-up point for private cars will be expanded to cope with increasing passenger traffic.
Construction work is expected to begin by the end of this year, with Project Jewel and the majority of T1 expansion works targeted to be completed by the end of 2018.
- CNA/dl
Singapore Billon Dollar project look peanut compare to this.
https://www.youtube.com/watch?v=Sn-jL7aC37o&list=UUCHTUhP0h2Fo3rlStH2ocJQ
SINGAPORE: A new Changi Airport Development Fund (CADF) will be set up to help in the building of Terminal 5.
Presenting the Budget in Parliament on Monday (Feb 23), Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said an initial S$3 billion will be injected into the fund. This can be topped up subsequently when Singapore's fiscal position allows.
Changi Airport’s Terminal 5 will be able to process up to 50 million passengers a year - more than Terminal 2 and 3 combined.
"This will be a major outlay for the Government over the next 10 to 15 years. It is right and prudent to set aside monies today for this large investment, while we have the resources to do so,” said Mr Tharman.
In 2017, the new Terminal 4 is expected to be ready. Another key project is Jewel Changi Airport, a S$1.7 billion mixed-use project that will open in 2018.
Mr Tharman said the development of the Tuas seaport will also secure Singapore's place as a logistics hub in the region.
Improvements are also being made in public transport - with more lines, trains and buses added to the network.
"About S$14 billion has been deployed to the public transport system over the past five years, and another S$26 billion has been committed for the next five years."
Singapore's healthcare infrastructure will also be expanded. There will be more beds in acute hospitals, community hospitals and nursing homes.
The last time Singapore made such significant investments in infrastructure was in the 1990s. Some of the investments then included the development of Jurong Island, the North-East MRT Line, the Light Rail Transit network and Changi General Hospital.
"Just as these investments two decades ago laid the foundations for better living standards over many years, we must now invest in the next era of jobs and incomes, and a higher quality of life," said Mr Tharman.
Mr Tharman said Singapore's spending on infrastructure will be increased by 50 per cent to about S$30 billion by the end of this decade. This is about 6 per cent of the country's gross domestic product.
"As we embark on large infrastructural projects, we are placing great emphasis on optimising project design and cost efficiency. Overall, we must spend judiciously, achieving value-for-money and providing subsidies to Singaporeans in a fair and targeted manner,” added Mr Tharman.
Mr Tharman said all developments will be complemented by the country's Smart Nation initiative to improve the quality of life of citizens.
Professor Lee Der Horng from National University of Singapore's Department of Civil and Environmental Engineering said the increased amount of investment in the transport system in the next five years is a "very necessary" move. He added that it is still too early to tell if the cost of the investment will be passed on to commuters.
- CNA/xq
Airport project costing tens of billions of dollars aims to cement Singapore's status as a key hub
The Government will co-fund Changi Airport's biggest expansion to date, including the construction of the future Terminal 5 (T5), with other stakeholders chipping in.
Revealing this to The Straits Times in an exclusive interview last week, Senior Minister of State for Transport Josephine Teo said the final cost-sharing has not been decided.
The project - expected to cost tens of billions of dollars - is an investment that is beyond the means of Changi Airport Group (CAG), its chairman, Mr Liew Mun Leong, had earlier told The Straits Times.
Mrs Teo said the right thing to do would be to share the investment costs between the Government, the CAG and those who will use the facilities. "The Government will look at this from the perspective of how it benefits Singaporeans and Singapore as a whole," she said.
In charging airlines and travellers, the Government is mindful that Changi Airport must remain competitive in an increasingly challenging environment.
The project aims to cement Singapore's position as a key hub for regional and global traffic, amid fierce competition from rival airports in Hong Kong, South Korea and elsewhere.
The development of the 1,000ha Changi East site - about three-quarters the size of the current airport premises - includes the construction of T5, a third runway, new taxiways and plane parking areas, as well as cargo facilities.
In an interview with The Straits Times, the CAG's Mr Liew had suggested that one option was for the Government to foot the entire bill, leaving his team to run the airport.
Explaining the rationale for co-funding, Mrs Teo, who is also Senior Minister of State for Finance, said: "Fiscal requirements for the Government, as a whole, will become more significant.
"We already know that we are going to have to spend more on healthcare. We have a lot of social programmes which we think are important. We want to continue to invest in education for our people and a large part of it is also the SkillsFuture piece."
Still, the Government knows how vital the aviation sector is and will factor this in when funding decisions are made, she said.
"If you look just at the number of people working at the airport, it is quite modest; 77,000, 3 per cent of GDP," she said.
"But if you look at it through a broader lens and ask which are all the other sectors that will be quite hurt if your air hub was lousy, then you would add tourism, finance, retail; and if you add all of those sectors, it is another 16 per cent of the economy, another half a million people... Then you say the externalities are very big. Therefore, when you develop Changi East and it's a massive investment, it's reasonable for the Government to bear a part of the costs."
Pressed further on what this could amount to, she said: "The Government is sensible."
Citing the MRT system as an example, she pointed out that the Government funds all the infrastructure and first set of rolling stock, which accounts for about 90 per cent of the total start-up costs.
Associate Professor Terence Fan, a transport specialist from the Singapore Management University, said the Government should consider some private sector involvement in the Changi East project.
"When the private sector is involved, whoever pays is keen to ensure that resources are used efficiently. This helps the Government get the best bang for its buck," said Prof Fan.
http://www.straitstimes.com/singapore/govt-to-co-fund-changis-big-expansion#xtor=CS1-10
Can someone enlighten me what will happen when you spend Billion of dollar on a piece of land, will the land be more expensive or become cheaper.
In order to have the Billion of dollar, what do you do. Print more money or print less money.
If print more money, your money in the Bank can buy more things in future or less.
How to print more money?
Can someone enlighten me what will happen when you spend Billion of dollar on a piece of land, will the land be more expensive or become cheaper.
In order to have the Billion of dollar, what do you do. Print more money or print less money.
If print more money, your money in the Bank can buy more things in future or less.
How to print more money?
SSB 10K to 100K from every working Singaporean? Next time airport profits payout 20% to them? 10 years later...
Can someone enlighten me what will happen when you spend Billion of dollar on a piece of land, will the land be more expensive or become cheaper.
In order to have the Billion of dollar, what do you do. Print more money or print less money.
If print more money, your money in the Bank can buy more things in future or less.
How to print more money?
YaWnzzz... not interested. That's quite long term and it's not as if ppl don't know Singapore (or fiat money) is going to explode. But I'm more interested in the weaklings and waiting for them to pop (durians to drop)!
Wait long long.........
They already said SSB at best pay you max 10-year SGS bond rate (it is just like a very cheap coupon-paying bond, but many people will still bite despite the low return because the capital and coupons are guaranteed by the government)................ :pig:
SSB 10K to 100K from every working Singaporean? Next time airport profits payout 20% to them? 10 years later...
Brother, don't disagree for the sake of disagreeing leh.
10 years of 2% plus perhaps a bit of compounding is it 20% thereabout?
Wait long long.........
They already said SSB at best pay you max 10-year SGS bond rate (it is just like a very cheap coupon-paying bond, but many people will still bite despite the low return because the capital and coupons are guaranteed by the government)................ :pig:
Brother, don't disagree for the sake of disagreeing leh.
10 years of 2% plus perhaps a bit of compounding is it 20% thereabout?
Low risk . and if SSB is paying higher will cause a lot of liquidity $$ funds to flow into the bonds. and will push up FHR and bank rates inorder to retain funds. I think its a good option for those who don't dare to invest and park all their funds in bank. its a good alternative for those segment of people.
There are more higher paying bonds. like FCT 3.65% or even PREP by Genting paying 5.12% but those comes with risk too.
YaWnzzz... not interested. That's quite long term and it's not as if ppl don't know Singapore (or fiat money) is going to explode. But I'm more interested in the weaklings and waiting for them to pop (durians to drop)!
Now they can print money (Singapore Saving Bond), control land price (GLS), control loan for Private(TDSR), control supply( reducing BTO), control demand for HDB(MSR) think have to wait a while for durian to drop. Go 717 trading for durian better.
https://scontent-cdg2-1.xx.fbcdn.net/hphotos-xpa1/t31.0-8/11224546_10205594891084530_7567175679334192643_o.jpg
https://scontent-cdg2-1.xx.fbcdn.net/hphotos-xfp1/t31.0-8/10986803_10205594892204558_8372083651350929058_o.jpg
https://scontent-cdg2-1.xx.fbcdn.net/hphotos-xpf1/t31.0-8/11046208_10205594891964552_3863527928172962437_o.jpg
Low risk . and if SSB is paying higher will cause a lot of liquidity $$ funds to flow into the bonds. and will push up FHR and bank rates inorder to retain funds. I think its a good option for those who don't dare to invest and park all their funds in bank. its a good alternative for those segment of people.
There are more higher paying bonds. like FCT 3.65% or even PREP by Genting paying 5.12% but those comes with risk too.
Singapore Savings Bonds meant for retail investors, not IPCs: Tharman
There have been suggestions to allow non-profit organisations to buy the new Singapore Savings Bonds, but the products have features which are designed with individual savers in mind, says Finance Minister Tharman Shanmugaratnam.
SINGAPORE: Organisations like charities, Institutions of a Public Character (IPCs) or unions are able to invest in conventional Singapore Government Securities but not the Singapore Savings Bonds (SSB), Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam indicated on Monday (May 11).
“The SSB has features such as the small minimum investment amount and non-transferability which were designed with individual savers in mind," he said, in a written reply to a parliamentary question from MP Foo Mee Har.
The SSB, which is expected to launch in the second half of 2015, is intended to provide retail investors with a safe and flexible option to save for the long term, Mr Tharman added.
He noted there have been suggestions for not-for-profit organisations to be eligible to buy SSB. Currently, only individual investors can buy the bonds.
Mr Tharman said the returns on SSB are still based on those of conventional Singapore Government Securities, and both securities are guaranteed by the Government. But the SSB can be redeemed before maturity, for the full principal amount and no penalty.
"The added protection against capital loss is intended to encourage individuals to save notwithstanding concerns about immediate liquidity needs, which organisations are in a better position to plan for," said Mr Tharman.
There is no limit on the amount of Singapore Government Securities that can be held by institutional investors, and organisations can consider other safe fixed-income products such as bonds issued by statutory boards, he added.
Wait long long.........
They already said SSB at best pay you max 10-year SGS bond rate (it is just like a very cheap coupon-paying bond, but many people will still bite despite the low return because the capital and coupons are guaranteed by the government)................ :pig:
You want more also cannot only SGD 100,000 for each Singaporean.
When government start to print money, guess money in the bank can buy more things in the future.
Brother, don't disagree for the sake of disagreeing leh.
10 years of 2% plus perhaps a bit of compounding is it 20% thereabout?
When Government print money don't think they give free money.
They already warn everyone about the printing, those who understand know what to do, the rest guess have to accept their money depreciate lesser compare to deposit in the Bank up to SGD 100,000 when they put their money in the Bond.
Cash is King and Durian dropping have to wait, meantime money printing with no ink and paper is getting more.
It a waste Tharman is not the chief in IMF. God bless Singapore to have him as our MAS chairman.
LKY once say "we don't need to do farming in order to have food on the table, important is how to make money"
When Government print money don't think they give free money.
They already warn everyone about the printing, those who understand know what to do, the rest guess have to accept their money depreciate lesser compare to deposit in the Bank up to SGD 100,000 when they put their money in the Bond.
Cash is King and Durian dropping have to wait, meantime money printing with no ink and paper is getting more.
It a waste Tharman is not the chief in IMF. God bless Singapore to have him as our MAS chairman.
LKY once say "we don't need to do farming in order to have food on the table, important is how to make money"
Comparative advantage, we can print better than our neighbours ? Perhap our notes printed are better in exchange rate.
Comparative advantage, we can print better than our neighbours ? Perhap our notes printed are better in exchange rate.
It is how you use the printed money that decide the value of the money.
If you print money and keep under your bed the value drop like durian.
It is how you use the printed money that decide the value of the money.
If you print money and keep under your bed the value drop like durian.
I am very sure our Govt will seek better usage of the money. Build airport and other transport facilities, MRT etc. Or maybe buy up commercial entities overseas. More likely to use locally in my opinion. Creation of money through increased transactions and employment opportunities.
http://www.clc.gov.sg/documents/uss/USS_Financing_a_city.pdf
https://scontent-cdg2-1.xx.fbcdn.net/hphotos-xpf1/t31.0-8/11838836_10205959182791595_2354626244202414754_o.jpg
https://scontent-cdg2-1.xx.fbcdn.net/hphotos-xpf1/t31.0-8/12183920_10153220419442934_1755228982191330400_o.jpg
DEAL SIGNED: S$1.12 billion contract inked to develop Changi Airport's third runway and supporting linkways. Here's a concept plan of how Singapore's airport will look once Terminal 4 and 5 are up. http://bit.ly/1Muww8s
AsiaOne | Thursday, Oct 29, 2015
SINGAPORE - The sixth stage of the Circle Line (CCL6) will be completed in 2025, said the Land Transport Authority (LTA) today (Oct 28).
Three more stations will be built to "close the loop", linking up Habourfront and Marina Bay stations. They are: Keppel, Cantonment and Prince Edward.
With the extension, the Circle Line will span 33 stations over 40km of tracks.
The Straits Times reported that it will cost $3.7 billion to build the 4-km line and stations.
When ready, the new stations will provide commuters a more direct rote between areas in the west like Pasir Panjang and Kent Ridge and the Central Business District. Currently, commuters have to make multiple transfers between Telok Blangah and Marina Bay stations, even though they are on the same line.
For instance, a commuter travelling from Telok Blangah to Marina Bay has to make two MRT transfers (Circle Line, North East Line and North-South Line). With CCL6, he will reach his destination in a single train ride, cutting his travelling time by about a third, or about 10 minutes, said LTA.
Keppel station will be located along Keppel Road.
- See more at: http://transport.asiaone.com/news/general/story/3-new-stations-circle-line-be-2025#sthash.WBKXLMhO.dpuf
The Building and Construction Authority (BCA) yesterday said construction demand could come in at between $27 billion and $34 billion this year. Of that, about 65 per cent is expected to be from the public sector. This would be the highest proportion of construction demand from the sector since 2002. - See more at: http://news.asiaone.com/news/business/strong-supply-public-building-jobs#sthash.2GYpuuvh.dpuf
http://news.asiaone.com/news/business/strong-supply-public-building-jobs
http://www.straitstimes.com/sites/default/files/styles/article_pictrure_780x520_/public/articles/2017/04/02/tuas.jpg?itok=4Z3jwukR
Tuas mega port may have lively area for leisure
The Tuas mega port, slated to open in phases from 2021, may be more than a hive of container traffic. Cafes, retail stores and even a jogging track overlooking the hustle and bustle of trade are being considered in a bid to optimise land use and add vibrancy.
The plan, which is being studied, is to construct an elevated area 42m above ground to house such and other amenities.
This area, which would be partly open to the public, could be as big as 150ha, or the size of about 200 football fields.
This is about a tenth of the space below where port activities, including the loading and unloading of containers, will be carried out.
The Maritime and Port Authority of Singapore (MPA) is also considering having other port-related businesses at the elevated site.
Speaking to The Sunday Times, MPA's project director (next generation port) Eugene Khoo, said that while the plans are not confirmed, provisions are being made in the construction of the new port to ensure that the foundation and infrastructure will be strong enough to support such a development.
Mr Andrew Tan (third from left), CEO of MPA, and Minister for Transport Khaw Boon Wan (fifth from left), with representatives from Daelim Industrial and Dredging International Asia Pacific at the launch of the first caisson at Tuas Terminal.
He said: "We want to develop Tuas as a maritime hub; more than just a container terminal. The idea is to bring life and vibrancy to the terminal with commercial spaces and amenities."
Bringing in large retail outlets, such as Tesco and sports-based Decathlon that can pull in the weekend crowd, is also being considered.
Mr Khoo said: "People can shop, walk around, and also have food and drinks while looking at port operations just directly below."
To make the overall port operations more efficient and seamless, MPA is looking into having facilities such as warehouse and distribution centres - now fragmented in many parts of Singapore - at the port as well, he said.
Mr Scott Dunn, vice-president for South-east Asia at engineering firm Aecom and vice-chairman of the Urban Land Institute (Singapore), said the plans showcase a "responsible use of land".
The stacking and layering of facilities is an innovative solution that works in land-scarce cities such as Singapore, he said.
Globally, a growing number of ports, including those in Japan, Europe and the United States, are exploring new initiatives to build port cities complete with leisure and other amenities.
For Singapore, the challenge will be to attract enough people to visit the port, said Associate Professor Yu Shi-Ming from the National University of Singapore's department of real estate at the School of Design and Environment.
He said: "It must be attractive enough as a destination for people to want to travel there to spend half a day or a whole day, and there will be competition from other attractions, including the future Jurong Lake District."
He said that if plans for a Tuas South MRT extension materialise, they will improve the area's accessibility. "These are very exciting plans," he added.
The mammoth move of port functions from Tanjong Pagar, Pasir Panjang, Keppel and Brani to Tuas South will allow Singapore to handle about 65 million twenty- foot equivalent units (TEUs) of cargo a year - more than double what the port handled last year.
The maritime sector contributes about 7 per cent to the country's GDP and employs over 170,000 workers.
The plan is to move into Tuas progressively from 2021 and the entire migration will be completed only by 2040.
Cheap Cheap US$3.5 billion only and later remove it and move to Tuas.
I Think Singapore land will become cheaper after all this investment.
SINGAPORE is relocating its transshipment port operations to Tuas in 10 years, a move that will add 65 million TEU in annual capacity, nearly doubling today's capacity at local PSA terminals, announced Transport Minister Lui Tuck Yew.
Mr Lui said consolidating transshipment operations at Tuas will bolster efficiency, economies of scale, eliminate inter-terminal transfers and result in cost savings and increased productivity.
Located close to the island's industrial centre, Tuas is a new port development that can handle up to 65 million TEU annually, nearly double Singapore's present capacity at PSA terminals.
The first phase of Tuas is scheduled to open in 10 years, ahead of the 2027 expiration of the leases of Singapore city terminals at Tanjong Pagar, Keppel, and Pulau Brani, noted Dredging Today.
The recently completed Terminals 1 and 2 of Pasir Panjang will be merged in Tuas as well. But PSA Singapore will proceed with Phases 3 and 4, which will cover 250 hectares and add 15 new berths with a six kilometre quay.
The Pasir Panjang expansion, which is estimated to cost about US$3.5 billion, will increase PSA Singapore's maximum draft from 16 to 18 metres to accommodate fully laden 18,000 TEUers now on order. By 2020, both phases will add an annual capacity of 15 million TEU, bringing the port total to 50 million TEU, but is still less than the additional Tuas planned capacity, which alone is estimated to handle 15 million TEU on completion.
is it time to buy ppty.. hmmmm
https://www.facebook.com/TheMerlionPress/videos/432304540441898/
Whether you like it or not, whether you think when is a good time to invest, Singapore cannot wait for you.
https://www.youtube.com/results?search_query=tuas+mega+port
Like Father Like Son.
https://www.youtube.com/watch?v=zc1KbE-8z4c
https://www.youtube.com/watch?v=5490gLDAeJs
The Making of Billion Dollar Island.
http://www.undp.org/content/dam/undp/library/capacity-development/English/Singapore%20Centre/Booklet_UNDP-SG50-Winsemius.pdf
Buy now and see its price crash in 2020 or after??? :beats-me-man:
is it time to buy ppty.. hmmmm
Buy now and see its price crash in 2020 or after??? :beats-me-man:
You've been saying for 5 years and prices are still good or going up.
Think you got the fact wrong, because I sounded the warning only since early last year, and the fact that even a broken clock will be right once every 12 hours, and we are nearing my prediction time.............
You've been saying for 5 years and prices are still good or going up.
Think you got the fact wrong, because I sounded the warning only since early last year, and the fact that even a broken clock will be right once every 12 hours, and we are nearing my prediction time.............
See for yourself:
http://www.condosingapore.com/forums/showthread.php/15329-Which-one-will-crash-first/page2
Anyway, your clock has no hand, can't even be right.
Wow! Looks like the timing of the property price crash is nearer than I realized!
Even if my clock has no hand, property cycle of boom and crash will always follow, just like the earth revolve around the sun....
And if you would like to dream that your property price keep booming and never crash (this is like telling us that the time has come that the earth WILL NOT revolve around the sun), we would all be DEAD!!!!!!!!!!!! :sleeping:
See for yourself:
http://www.condosingapore.com/forums/showthread.php/15329-Which-one-will-crash-first/page2
Anyway, your clock has no hand, can't even be right.
Wow! Looks like the timing of the property price crash is nearer than I realized!
Even if my clock has no hand, property cycle of boom and crash will always follow, just like the earth revolve around the sun....
And if you would like to dream that your property price keep booming and never crash (this is like telling us that the time has come that the earth WILL NOT revolve around the sun), we would all be DEAD!!!!!!!!!!!! :sleeping:
Yeah, it's so near that it's already over.
The new cycle has begun. We are popping champagne very soon!
Buy now and see its price crash in 2020 or after??? :beats-me-man:
Anyone who knows when is the crash wouldn't be in this forum.
Hard to predict, but investor tend to explore many asset classes globally and buy those undervalued with higher potential gain.
Even an idiot will know that the property price CRASH will come, it is a matter of WHEN?!
And we can make educated guess that since price property price crashing in 2008 and bottoming out in 2009, the next property price crash should be around 2019 onwards (about at least 10 years cycle). May be sometimes they will drag out longer, but it will cannot defy gravity and drag forever.......... :eek:
Anyone who knows when is the crash wouldn't be in this forum.
Even an idiot will know that the property price CRASH will come, it is a matter of WHEN?!
And we can make educated guess that since price property price crashing in 2008 and bottoming out in 2009, the next property price crash should be around 2019 onwards (about at least 10 years cycle). May be sometimes they will drag out longer, but it will cannot defy gravity and drag forever.......... :eek:
2019...... 2 more good years
Yes, or may be 3 more good years?
Good enough for people to buy at SUPER PEAK PRICE now, then get STUCK holding the baby with no tenant and NO RENTAL INCOME for next 5 years (or more)?
2019...... 2 more good years
Inflation is going to be very fierce going forward. If you are not covered sufficiently, you will be terribly short. Good luck TB and farewell. Hope you had hung on to your CCR FH!
Yes, or may be 3 more good years?
Good enough for people to buy at SUPER PEAK PRICE now, then get STUCK holding the baby with no tenant and NO RENTAL INCOME for next 5 years (or more)?
Yes, or may be 3 more good years?
Good enough for people to buy at SUPER PEAK PRICE now, then get STUCK holding the baby with no tenant and NO RENTAL INCOME for next 5 years (or more)?
No tenant and no rental income at all?....calm down cowboy. It's Singapore we are talking about here, not Timbuktu.
Indeed! In Singapore!
In 1998 Asia Financial crisis, in HillView RCR $1500 pm for a 3BR condo also no tenant (not to mention OCR)!
Are you still a young boy/girl at that time that you don't even know???
No tenant and no rental income at all?....calm down cowboy. It's Singapore we are talking about here, not Timbuktu.
Precisely right! That time I could still find $2 chicken rice everywhere plus teh for 70c. Or 60c?
Hillview is OCR right?
Indeed! In Singapore!
In 1998 Asia Financial crisis, in HillView RCR $1500 pm for a 3BR condo also no tenant (not to mention OCR)!
Are you still a young boy/girl at that time that you don't even know???
Indeed! In Singapore!
In 1998 Asia Financial crisis, in HillView RCR $1500 pm for a 3BR condo also no tenant (not to mention OCR)!
Are you still a young boy/girl at that time that you don't even know???
I only know 2001, my 5 room HDB rent out for $1200 pm and now rent out for $2800 pm
HillView is RCR lah!
So you can imagine, many more OCR private condos also had no tenant!
That is why so many got forced sold and property price CRASH big time in 1998!
Not only that, the price never really recover until 2006, 8 LONG YEARS!
Precisely right! That time I could still find $2 chicken rice everywhere plus teh for 70c. Or 60c?
Hillview is OCR right?
Sorry to disappoint you. I am also quite disappointed that an old bird like you makes such a rookie mistake - really a broken clock with no hands...
Hillview is most definitely OCR.
https://www.mingproperty.sg/region-map-singapore/
https://spring.ura.gov.sg/lad/ore/login/map_ccr.pdf
Are you sure you even have a CCR FH property???
HillView is RCR lah!
So you can imagine, many more OCR private condos also had no tenant!
That is why so many got forced sold and property price CRASH big time in 1998!
Not only that, the price never really recover until 2006, 8 LONG YEARS!
I am referring to District 21 Upper Bukit Timah RCR. May be this is not Hillview, but anyway Hillview is just 1 bus-stop away.
Then, in this case I am referring to District 21 RCR, since have not tenant,
ha ha ha! OCR will be worst!
As you know, I never really bother checking about OCR, so thanks for pointing out my mistake about Hillview being OCR and not RCR...........
Lesson learnt! Avoid RCR also, just like OCR because they are just too close to be comfortable!
Sorry to disappoint you. I am also quite disappointed that an old bird like you makes such a rookie mistake - really a broken clock with no hands...
Hillview is most definitely OCR.
https://www.mingproperty.sg/region-map-singapore/
https://spring.ura.gov.sg/lad/ore/login/map_ccr.pdf
Are you sure you even have a CCR FH property???
Indeed! In Singapore!
In 1998 Asia Financial crisis, in HillView RCR $1500 pm for a 3BR condo also no tenant (not to mention OCR)!
Are you still a young boy/girl at that time that you don't even know???
Many people are holding on to an idea that property price will collapse and they will buy at the cheap. Its a really tough position to hold on to. Contrary to popular believe its better to buy property while your wealth is low. The reason being u can leverage. When your assets are plentiful u can cash out and enjoy interest from bank deposit.
That's why I say your clock has no hands. Clock hands do not twist as much. Hillview means Hillview, 1 bus stop or 2 bus stops means not Hillview.
From 2012 crash until 2020 crash, how long further can you twist?
I am referring to District 21 Upper Bukit Timah RCR. May be this is not Hillview, but anyway Hillview is just 1 bus-stop away.
Then, in this case I am referring to District 21 RCR, since have not tenant,
ha ha ha! OCR will be worst!
As you know, I never really bother checking about OCR, so thanks for pointing out my mistake about Hillview being OCR and not RCR...........
Lesson learnt! Avoid RCR also, just like OCR because they are just too close to be comfortable!
Some folks don't understand how good a deal we have. What if we can buy 1 million dollar worth of shares and we pay by 30 years loan? The price of shares will explode through the roof.
This deal will not last forever. If I can still borrow, I want to borrow.
Sorry to pour some cold water even though I am a firm believer of long term, moderated growth in prices.
We are already allowed to leverage this million and prices have already exploded from a long time ago, resulting in the CMs that limit the leveraging.
What you are saying is that if leveraging loosening occurs, prices will shoot through the roof again. No doubt it will, but the people it benefits is a small group.
I think the strategy is to slowly unwind, ever so slowly, first exempt TDSR from refinancing considerations, then relax SSD and allow mortgage equity, then increase financing for first property (85%), then increase financing to second or third property (to 60 or 70%) as long as meet TDSR.
Other measures should still stay...
Some folks don't understand how good a deal we have. What if we can buy 1 million dollar worth of shares and we pay by 30 years loan? The price of shares will explode through the roof.
This deal will not last forever. If I can still borrow, I want to borrow.
Wah, you and think alike... :joyous:
I have strong feel 2018 is the year.
See the number of long weekend historically:
2014 - 8
2015 - 10
2016 - 6
2017 - 7
2018 - only 4 !!!!
Yes, or may be 3 more good years?
Good enough for people to buy at SUPER PEAK PRICE now, then get STUCK holding the baby with no tenant and NO RENTAL INCOME for next 5 years (or more)?
I am referring to District 21 Upper Bukit Timah RCR. May be this is not Hillview, but anyway Hillview is just 1 bus-stop away.
Then, in this case I am referring to District 21 RCR, since have not tenant,
ha ha ha! OCR will be worst!
As you know, I never really bother checking about OCR, so thanks for pointing out my mistake about Hillview being OCR and not RCR...........
Lesson learnt! Avoid RCR also, just like OCR because they are just too close to be comfortable!
Only know Southbank in RCR, but don't know how low can it crash.
Bought SGD 535,000 for 2 Bedroom 958sqft in Jun 2006.
Only know Southbank in RCR, but don't know how low can it crash.
Bought SGD 535,000 for 2 Bedroom 958sqft in Jun 2006.
You sell me for 500K, immediately crash.
Just kidding.
You sell me for 500K, immediately crash.
Just kidding.
I think 1.2 already can consider CRASH.
I think 1.2 already can consider CRASH.
But I don't have 1.2 for you to crash.
Seletar Aerospace Park, The park will be developed at a cost of more than S$60 million
Dine in conserved colonial bungalows at Seletar Aerospace Park.
http://mothership.sg/2017/02/5-fb-establisments-at-seletar-aerospace-park-that-scream-come-insta-me-hipsters/
How to get there:
1. From Punggol MRT, make your way to the bus stop at Punggol Temporary Interchange, Punggol Place.
2. Board bus 117 and alight at Seletar Aerospace Drive, just right before The Oval.
Walk to 2 Park Lane.
OR take bus 103 and alight at the same stop.
http://www.straitstimes.com/singapore/spores-rd-expensive-lesson-or-worthwhile-investment?utm_campaign=Echobox&utm_medium=Social&utm_source=Facebook&xtor=CS1-10#link_time=1492344192
Time to consider how best to partner top global universities to benefit Republic's capabilities
When Singapore and the renowned American university Massachusetts Institute of Technology (MIT) launched a partnership in 2008, it promised much to raise the quality of scientific research here that would lead to new business opportunities.
The Singapore-MIT Alliance for Research and Technology (Smart) was trumpeted as MIT's first research centre outside the United States, which would enable its scientists to work with their Singapore counterparts in areas such as biomedical science, water and the environment.
According to a statement then, it would "identify and nurture innovative ideas from emerging technologies and accelerate their migration to practical commercial applications that, in many cases, will occur through the creation of business enterprises with funding from external investors".
The Straits Times report earlier this month that all five Smart research programmes will stop when their funding from the National Research Foundation (NRF) runs out seemed like an untimely end to those early ambitions.
According to the report, NRF's funding is for a limited five-year period, renewable to a maximum of 10 years.
The closure involves 200 researchers from MIT and Singapore, with some affected by the end of the year and others up to 2021.
End of story?
Students at NUS' University Town. Singapore's universities are now attractive partners for many of the top global varsities, but they are also tasked with educating the bulk of Singapore's tertiary students.
For these researchers, it would seem so. But what does Smart's end say about the larger story of Singapore's multibillion-dollar research and development efforts? Was it an expensive collaboration with an overseas partner coming to a premature end? Or was it a milestone achieved in Singapore's search for success in developing its research capabilities?
You cannot tell because there has not been much said by the people involved, beyond the official comment about the limited nature of NRF's funding.
I hope, though, that it would not be the last word on it and there will be more information and discussion, because the issue is an important one involving how best to develop Singapore's research and development capabilities.
Singapore universities have to find the right balance between education and research, because a top-class research university is not necessarily one that delivers the best undergraduate education.
Is the approach of partnering the top universities in the world the best way? And, when such partnerships are started, how best to do it so that Singapore benefits in the widest possible way?
In fact, there is a more basic question: What exactly does Singapore hope to achieve from these collaborations? Is it to jointly develop R&D, which will lead to commercially successful products and businesses, or is the more important objective an educational one, to develop our own local talent from working with the world's best?
More critically, what lessons has Smart's experience taught Singapore about how best to do this?
Answering this question is important because there are many other ongoing collaborations with foreign universities, and there will likely be more in the future.
Some of these include the Duke-NUS Medical School, the Yale-NUS liberal arts college and the NTU-Imperial College medical school.
They are expensive enterprises, as is the entire national R&D effort.
The current five-year 2016 to 2020 budget will cost $19 billion.
It has not been disclosed exactly how much was spent on Smart over those 10 years, but it could not have been small beer. As with many of these arrangements, Singapore foots the bulk, if not all, of the bill.
Here is one indication of how costly these things are: The Smart team was the first and largest tenant of an impressive research building in the National University of Singapore (NUS) called Create, which cost $600 million to build and equip.
But money is not the only issue.
Working with foreign institutions is not a simple matter of just transplanting foreign scientists and their equipment here.
Universities such as MIT have their own unique culture, tradition and objectives, which may or may not be aligned with Singapore's.
Making sure Singapore's own interests are protected requires strong leadership at the research centres with clear aims, supported by a local team that knows how to achieve them while maximising benefits for the country.
It is not an easy task dealing with scientists who have their own strong views about their work and come from a different culture.
The second issue concerns the number of people who benefit from these arrangements.
High-end R&D involves a select group of scientists and students.
One of the aims of Smart was to mentor postdoctoral and graduate students, to enable local researchers to work with some of the best from MIT.
This is a worthwhile educational objective and I hope more will be said about how well it was achieved.
For example, how many local scientists and students benefited from the transfer of knowledge and expertise?
In high-end research, the numbers are probably small.
Another question: Of the MIT researchers who worked here, how many stayed on to further their work or, better still, launched start-ups and ran them?
How many local companies and small and medium-sized enterprises benefited from or were involved in the research work?
Can more be done to ensure Singapore's wider economy and society benefit from these activities?
To be fair, Singapore's national R&D effort is increasingly focused on research with commercial potential and there is keen competition among the universities and research centres for a share of the funds.
One of Smart's successes, for example, is a water technology company, Visenti, which has since been acquired by a global leader in the field, Xylem.
Overall, though, R&D results are often unpredictable and always something of a gamble.
But there is an educational objective as well, which is harder to measure.
Singapore universities are now attractive partners for many of the top global institutions, including Duke, Yale and Imperial College.
NUS and Nanyang Technological University (NTU) have achieved remarkable international recognition, ranking among the top in the world.
A large part of these ranking exercises measures the university's achievement in research, the number of published papers and the quality of faculty.
But both NUS and NTU are also national universities tasked with educating the bulk of Singapore's tertiary students, who want an enriching educational experience in their three to four years there.
Singapore universities have to find the right balance between education and research, because a top-class research university is not necessarily one that delivers the best undergraduate education.
There is one other story worth telling that does not involve a glamorous foreign Ivy League university.
You might not have heard of James Cook University or, if you have, do not think very much of it.
It is an Australian university in Queensland, which has a campus here in Sims Drive.
Starting with 50 students in 2003, it now has 3,500, with 54 degree courses from business to psychology.
Last year, it received the EduTrust Star, the highest quality mark awarded to private educational institutions here, and plans to raise its student population to 5,000.
The campus is wholly owned by the university, with not a single dollar of support from the Government.
But ask the thousands of Singaporean students who have studied there who might not have been able to get a university education otherwise (because they could not qualify for NUS or NTU) and it is a no-brainer which educational model gets their vote.
Their no-frills option will not make waves in the research world. But their education is just as important for Singapore's future.
•The writer is also a senior fellow at the S. Rajaratnam School of International Studies, Nanyang Technological University
The problems with all these kind "big figures $Billions" are kind of misleading..........
Research is about people, brain power, research efforts by the researchers.............
However, in Singapore, while $BILLIONS have been touted to be allocated, it seems that not so much of these money really get paid out for research work (i.e. e.g. say they allocate $10 Billions a year to research but yet they really only grant like $1B only)....
Also, much of these $Billions end up being spent on hardware like 5-STAR offices, rentals (e.g. paying rentals for Fusionopolis which is NOT CHEAP!), equipment, etc, while setting much less aside for the salaries and compensation for the manpower (i.e. the researchers, excluding the few head honchos who are very very much well paid, typical of Gov Boards where Super Scale Civil Servants and scholars are paid >$1M by age 40 while a similar 1st class degree holder non scholar will only be earning <$100k p.a. at age 40).............
http://www.straitstimes.com/singapore/spores-rd-expensive-lesson-or-worthwhile-investment?utm_campaign=Echobox&utm_medium=Social&utm_source=Facebook&xtor=CS1-10#link_time=1492344192
Time to consider how best to partner top global universities to benefit Republic's capabilities
When Singapore and the renowned American university Massachusetts Institute of Technology (MIT) launched a partnership in 2008, it promised much to raise the quality of scientific research here that would lead to new business opportunities.
The Singapore-MIT Alliance for Research and Technology (Smart) was trumpeted as MIT's first research centre outside the United States, which would enable its scientists to work with their Singapore counterparts in areas such as biomedical science, water and the environment.
According to a statement then, it would "identify and nurture innovative ideas from emerging technologies and accelerate their migration to practical commercial applications that, in many cases, will occur through the creation of business enterprises with funding from external investors".
The Straits Times report earlier this month that all five Smart research programmes will stop when their funding from the National Research Foundation (NRF) runs out seemed like an untimely end to those early ambitions.
According to the report, NRF's funding is for a limited five-year period, renewable to a maximum of 10 years.
The closure involves 200 researchers from MIT and Singapore, with some affected by the end of the year and others up to 2021.
End of story?
Students at NUS' University Town. Singapore's universities are now attractive partners for many of the top global varsities, but they are also tasked with educating the bulk of Singapore's tertiary students.
For these researchers, it would seem so. But what does Smart's end say about the larger story of Singapore's multibillion-dollar research and development efforts? Was it an expensive collaboration with an overseas partner coming to a premature end? Or was it a milestone achieved in Singapore's search for success in developing its research capabilities?
You cannot tell because there has not been much said by the people involved, beyond the official comment about the limited nature of NRF's funding.
I hope, though, that it would not be the last word on it and there will be more information and discussion, because the issue is an important one involving how best to develop Singapore's research and development capabilities.
Singapore universities have to find the right balance between education and research, because a top-class research university is not necessarily one that delivers the best undergraduate education.
Is the approach of partnering the top universities in the world the best way? And, when such partnerships are started, how best to do it so that Singapore benefits in the widest possible way?
In fact, there is a more basic question: What exactly does Singapore hope to achieve from these collaborations? Is it to jointly develop R&D, which will lead to commercially successful products and businesses, or is the more important objective an educational one, to develop our own local talent from working with the world's best?
More critically, what lessons has Smart's experience taught Singapore about how best to do this?
Answering this question is important because there are many other ongoing collaborations with foreign universities, and there will likely be more in the future.
Some of these include the Duke-NUS Medical School, the Yale-NUS liberal arts college and the NTU-Imperial College medical school.
They are expensive enterprises, as is the entire national R&D effort.
The current five-year 2016 to 2020 budget will cost $19 billion.
It has not been disclosed exactly how much was spent on Smart over those 10 years, but it could not have been small beer. As with many of these arrangements, Singapore foots the bulk, if not all, of the bill.
Here is one indication of how costly these things are: The Smart team was the first and largest tenant of an impressive research building in the National University of Singapore (NUS) called Create, which cost $600 million to build and equip.
But money is not the only issue.
Working with foreign institutions is not a simple matter of just transplanting foreign scientists and their equipment here.
Universities such as MIT have their own unique culture, tradition and objectives, which may or may not be aligned with Singapore's.
Making sure Singapore's own interests are protected requires strong leadership at the research centres with clear aims, supported by a local team that knows how to achieve them while maximising benefits for the country.
It is not an easy task dealing with scientists who have their own strong views about their work and come from a different culture.
The second issue concerns the number of people who benefit from these arrangements.
High-end R&D involves a select group of scientists and students.
One of the aims of Smart was to mentor postdoctoral and graduate students, to enable local researchers to work with some of the best from MIT.
This is a worthwhile educational objective and I hope more will be said about how well it was achieved.
For example, how many local scientists and students benefited from the transfer of knowledge and expertise?
In high-end research, the numbers are probably small.
Another question: Of the MIT researchers who worked here, how many stayed on to further their work or, better still, launched start-ups and ran them?
How many local companies and small and medium-sized enterprises benefited from or were involved in the research work?
Can more be done to ensure Singapore's wider economy and society benefit from these activities?
To be fair, Singapore's national R&D effort is increasingly focused on research with commercial potential and there is keen competition among the universities and research centres for a share of the funds.
One of Smart's successes, for example, is a water technology company, Visenti, which has since been acquired by a global leader in the field, Xylem.
Overall, though, R&D results are often unpredictable and always something of a gamble.
But there is an educational objective as well, which is harder to measure.
Singapore universities are now attractive partners for many of the top global institutions, including Duke, Yale and Imperial College.
NUS and Nanyang Technological University (NTU) have achieved remarkable international recognition, ranking among the top in the world.
A large part of these ranking exercises measures the university's achievement in research, the number of published papers and the quality of faculty.
But both NUS and NTU are also national universities tasked with educating the bulk of Singapore's tertiary students, who want an enriching educational experience in their three to four years there.
Singapore universities have to find the right balance between education and research, because a top-class research university is not necessarily one that delivers the best undergraduate education.
There is one other story worth telling that does not involve a glamorous foreign Ivy League university.
You might not have heard of James Cook University or, if you have, do not think very much of it.
It is an Australian university in Queensland, which has a campus here in Sims Drive.
Starting with 50 students in 2003, it now has 3,500, with 54 degree courses from business to psychology.
Last year, it received the EduTrust Star, the highest quality mark awarded to private educational institutions here, and plans to raise its student population to 5,000.
The campus is wholly owned by the university, with not a single dollar of support from the Government.
But ask the thousands of Singaporean students who have studied there who might not have been able to get a university education otherwise (because they could not qualify for NUS or NTU) and it is a no-brainer which educational model gets their vote.
Their no-frills option will not make waves in the research world. But their education is just as important for Singapore's future.
•The writer is also a senior fellow at the S. Rajaratnam School of International Studies, Nanyang Technological University
The problems with all these kind "big figures $Billions" are kind of misleading..........
Research is about people, brain power, research efforts by the researchers.............
However, in Singapore, while $BILLIONS have been touted to be allocated, it seems that not so much of these money really get paid out for research work (i.e. e.g. say they allocate $10 Billions a year to research but yet they really only grant like $1B only)....
Also, much of these $Billions end up being spent on hardware like 5-STAR offices, rentals (e.g. paying rentals for Fusionopolis which is NOT CHEAP!), equipment, etc, while setting much less aside for the salaries and compensation for the manpower (i.e. the researchers, excluding the few head honchos who are very very much well paid, typical of Gov Boards where Super Scale Civil Servants and scholars are paid >$1M by age 40 while a similar 1st class degree holder non scholar will only be earning <$100k p.a. at age 40).............
http://www.bbc.com/news/business-22636553
https://www.youtube.com/watch?v=EVkXC39JjXw
When you invest Billon, Billionaire will be attracted.
http://news.asiaone.com/news/business/brother-japans-richest-man-moves-singapore-7-things-about-tech-tycoon-taizo-son
https://www.nytimes.com/2017/04/20/magazine/how-singapore-is-creating-more-land-for-itself.html?_r=0
Much of Singapore lies less than 50 feet above sea level. A third of the island sits around 16 feet above the water — low enough to give planners the jitters. Coastal roads are being raised; a new airport terminal is being built 18 feet above sea level. All the while, the island receives more and more rain each year. “If global temperatures continue to rise,” a government official said last year, “many parts of Singapore could eventually be submerged.”
https://static01.nyt.com/images/2017/04/23/magazine/23singapore2/23singapore2-superJumbo.jpg
Construction begins for S$6.5 billion, 100km superhighway for used water
http://www.todayonline.com/singapore/construction-begins-s65-bn-superhighway-used-water
https://www.youtube.com/watch?v=8zATQBq4h4U
https://www.youtube.com/watch?v=f_CH1feCC14
https://www.youtube.com/watch?v=PRq_YRzhfN8
https://www.youtube.com/watch?v=PRq_YRzhfN8
https://scontent.fsin3-1.fna.fbcdn.net/v/t1.0-9/25446178_10212192335976529_5096043808961335705_n.jpg?oh=cd35a3f7a950c61256a1d72131e45abe&oe=5AB994C1
Public works, en bloc projects to fuel 2018 building demand
BCA expects about S$26b-S$31b of construction contracts to be awarded this year, higher than in 2017
Fri, Jan 12, 2018
Lee Meixian
THE BUILDING and Construction Authority (BCA) on Thursday projected that S$26 billion to S$31 billion in construction contracts could be awarded in 2018, up from the S$24.5 billion estimated to have been awarded in 2017.
The projected higher construction demand is due to an anticipated increase in public sector work, which is expected to grow from S$15.5 billion in 2017 to between S$16 billion and S$19 billion this year.
Public works contribute to about three-fifths of 2018's total projected demand. The remainder, coming from the private sector, is also expected to be an improvement - from S$9 billion in 2017 to between S$10 billion and S$12 billion in 2018. The growth will come on the back of a stronger economic outlook and upturn in property market sentiment, BCA said.
BCA also explained that last year's total construction demand was slightly lower than the original S$28 billion to S$35 billion estimated because a few major public-sector infrastructure projects - such as the North-South Corridor expressway - were rescheduled to 2018 amid longer preparation times required for complex, large-scale projects.
Some of the projects expected to be awarded this year include the North-South Corridor, new MRT works and Deep Tunnel Sewerage System Phase 2, as well as the remaining package for Runway 3 by Changi Airport Group, more healthcare facilities such as the redevelopment of National Skin Centre in Mandalay Road and Woodlands Integrated Health Campus, as well as a pipeline of new public housing construction and condominium projects in Shunfu Road, Stirling Road, Hougang Avenue 7 and Upper Serangoon Road.
In his opening address at the BCA-Redas Built Environment and Property Prospects Seminar 2018, Desmond Lee, Second Minister for National Development, noted that Singapore's overall GDP growth is expected to come in at 3.5 per cent for 2017, which is at the high end of initial forecasts. At the same time, sentiment in the private property market seems to be improving.
"BCA projects that construction demand for private residential projects could be up to S$3.6 billion this year. Some of this will be generated by the spate of en-bloc sales which will also lead to increased supply of new private housing units over the next few years."
He added that even in the private commercial property space, demand for such projects could hit S$2.5 billion this year, backed by upcoming office development projects at Central Boulevard and Harbour Drive.
The agency anticipates that in the medium term, construction demand will reach S$26 billion to S$33 billion per year for 2019 and 2020, and S$28 billion to S$35 billion per year for 2021 and 2022.
As has been the case in previous years, the public sector is likely to lead demand and contribute S$16 billion to S$20 billion per year from 2019 to 2022, with a somewhat equal split between building projects and civil engineering works, it added.
prashantnative
13-03-18, 17:59
So big tunnels for electricity cables. It is marvelous project.
https://www.channelnewsasia.com/news/business/contract-for-tuas-terminal-phase-ii-worth-s-1-46b-awarded-to-10173256
S$1.46b = S$1,460,000,000.00.
Contract for Tuas Terminal Phase II worth S$1.46b awarded to international consortium
Read more at https://www.channelnewsasia.com/news/business/contract-for-tuas-terminal-phase-ii-worth-s-1-46b-awarded-to-10173256
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