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Issues That Matter: Uniquely Singapore – F1 or F9?

Issues That Matter: Uniquely Singapore – F1 or F9?

Jan. 25 | “Can you imagine walking to every HDB block and every floor that you go, every 12 flats that you count, one of them is in arrears by more than three months? And at the end of the day, if they cannot pay and they default (on their mortgage loans),...

MND vs NMP: Round 3

MND vs NMP: Round 3

Nov. 28 | by Leong Sze Hian I refer to the report “Property measures have taken effect: Mah Bow Tan” (Channel News Asia, Nov 27). It states that “National Development Minister Mah Bow Tan said there are signs that measures to cool the property...

Medisave – pay up or be charged?

Medisave – pay up or be charged?

Jul. 28 | Leong Sze Hian – Several Singaporeans living overseas and in Singapore have contacted The Online Citizen to tell us that they have received letters from the CPF Board asking them to pay their CPF Medisave arrears, incurred many years ago. For example,...

6,700 S’poreans’ foreign spouses denied long-term visit pass or PR each year

6,700 S’poreans’ foreign spouses denied long-term visit pass or PR each year

May. 25 | The TODAY newspaper article headlined “Longer wait, harder to get PR or citizenship” (Today, 19 May) was amended on 19 May at 1615hrs. The second last paragraph of the story originally stated: “As for foreign spouses of Singaporeans, the ICA...

CPF: can’t withdraw more at 55 even with property pledge?

CPF: can’t withdraw more at 55 even with property pledge?

May. 23 | The CPF Minimum Sum (MS) is the amount a member has to set aside in his or her Retirement Account (RA) for retirement needs. The RA is set up when a member reaches 55 years of age, drawing from savings in the Ordinary and Special accounts (OA and SA respectively)....

A world cup for the red-green giants (only)

A world cup for the red-green giants (only)

May. 17 | Even before soccer’s biggest show – the FIFA World Cup – has even started, the public is already divided. The facebook group lobbying for the boycott of Singtel-Starhub world cup packages has gathered storm over the past week and, surely,...

Singaporeans’ rights to social security and public housing

Singaporeans’ rights to social security and public housing

May. 14 | Social security Singaporean workers have to make mandatory contributions of up to 34.5 per cent of their wages to their own individual pension accounts (the Central Provident Fund accounts). The government issues non-marketable government bonds at 2.5...

Good news about jobs almost everyday, really?

Good news about jobs almost everyday, really?

May. 5 | Counter offers of higher pay for the “best workers” or “workers”? I refer to the report “3 out of 5 firms in Singapore will make counter offers when employee resigns” (Channel News Asia, 4 May). Almost everyday, there is news of a booming...

HDB caught red-handed bending its own rules

HDB caught red-handed bending its own rules

Apr. 16 | Note: This letter was rejected for publication by TODAY Your VOICES page (TODAY April 13) featured two letters with opposing perspectives about sky-high HDB flat prices — the euphoric “Let’s talk about property” by Lulu See and the more sensible...

PAYM forum: Now I know why flats are “affordable”? (Part 2)

PAYM forum: Now I know why flats are “affordable”? (Part 2)

Apr. 14 | This is the second part of my report on the People’s Association Youth Movement (PAYM) policy forum @ Jurong GRC, which took place on Sunday (11 April). The discussion, entitled “HDB Flats: Towering Pinnacles, sky-high prices?”, was attended by...

PAYM policy forum: now I know why flats are “affordable”? (Part 1)

PAYM policy forum: now I know why flats are “affordable”? (Part 1)

Apr. 12 | I attended the People’s Association Youth Movement (PAYM) policy forum @ Jurong GRC on Sunday (11 April). The discussion, entitled “HDB Flats: Towering Pinnacles, sky-high prices?”, was attended by about 50 people. The three speakers...

Tripartite panel contradicts Government on employment practices?

Tripartite panel contradicts Government on employment practices?

Apr. 9 | I refer to the article, “Bosses hiring foreigners over S’poreans? Not true”.  (Straits Times, 8 April). It states that: “More Singaporeans are complaining that employers prefer to hire foreigners over them. But investigations by a tripartite...

$460,000 benefits for lower-income family over 60 years: Really?

$460,000 benefits for lower-income family over 60 years: Really?

Apr. 3 | By Leong Sze Hian The Ministry of Finance has posted an appendix to the 2010 Budget Debate round-up speech entitled “Transfers to an illustrative lower-income (bottom 20%) family over a lifetime”. This appendix purportedly illustrates how a lower...

HDB: cannot withdraw cash profits anymore when you sell?

HDB: cannot withdraw cash profits anymore when you sell?

Mar. 30 | By Leong Sze Hian I refer to the report “Govt to explore ways to increase use of CPF for buying HDB flats” (Channel News Asia, Mar 27). One possible implication or policy change may be this: cash profits from the sale of HDB flats may have...

Budget does little to address main issues faced by S’poreans

Budget does little to address main issues faced by S’poreans

Feb. 24 | The Online Citizen speaks to financial expert and TOC’s own columnist, Mr Leong Sze Hian, for his take on Budget 2010 which was unveiled by the finance minister on Monday.

Many Singaporeans want to migrate – Why?

Many Singaporeans want to migrate – Why?

Feb. 10 | Leong Sze Hian I refer to the article “Singapore envies Kiwi lifestyle” (New Zealand Herald, Feb 9). It states that “The bait was better working hours, cheaper cars and housing – and in three weeks thousands from Singapore have...

HDB’s reply on flats for foreigners – a conflict of interest?

HDB’s reply on flats for foreigners – a conflict of interest?

Jan. 15 | Leong Sze Hian In my letter to the Today newspaper titled, “A precious resource”,  I had asked why two blocks of flats in Toa Payoh were being reserved for rental to foreign workers from the two Integrated Resorts (IRs). I had said that HDB flats,...

HDB housing policies – tilting the advantage towards PRs?

HDB housing policies – tilting the advantage towards PRs?

Jan. 11 | The following is Part One of a special three-part focus on the Housing and Development Board’s public housing policies. Parts Two and Three will be published on Tuesday and Wednesday respectively. Leong Sze Hian I attended the HDB’s Resale Seminar...

HDB flats – a precious resource for foreign workers?

HDB flats – a precious resource for foreign workers?

Jan. 1 | The following is a letter from Mr Leong Sze Hian to the Today newspaper. It was published on Today Online on 31 Dec 2009. I REFER to “Asset that keeps growing” (Dec 30) and reports that two Housing and Development Board (HDB) blocks in Toa...

Year In Review (Part 2): Retirement, CPF, economic outlook

Year In Review (Part 2): Retirement, CPF, economic outlook

Jan. 1 | This is Part 2 of Fang Shihan’s interview with Mr Leong Sze Hian. In this video, Mr Leong looks into the problems faced by some people in monetising their HDB flats for retirement and the problems with the CPF Life Scheme. Part 1 is here: Year In...

Higher HDB prices good for Singaporeans?

Higher HDB prices good for Singaporeans?

Dec. 21 | Leong Sze Hian Our columnist picks apart the latest announcements and replies from HDB. I refer to the HDB’s latest announcement on Build-to-order (BTO) flats for December – in Queenstown (Dawson), Bukit Panjang and Sembawang. Once again, the...

Tilting the playing field in favour of lower income group?

Tilting the playing field in favour of lower income group?

Dec. 21 | Leong Sze Hian Six months after the last general elections in 2006, Prime Minister Lee Hsien Loong dropped a bombshell on Singaporeans. In November of that year, PM Lee announced in Parliament that the Goods and Services Tax (GST) will be increased from...

PMETs and degree holders among hardest hit by weak labour market

PMETs and degree holders among hardest hit by weak labour market

Dec. 16 | Leong Sze Hian Despite a slight increase in GDP in the third quarter of this year, Singapore’s labour market, as well as the earnings and productivity of resident workers have not recovered. A report released yesterday by the Ministry of Manpower reveals...

Economy recovering, but labour statistics getting worse?

Economy recovering, but labour statistics getting worse?

Dec. 15 | Leong Sze Hian According to the Ministry of Manpower’s Labour Market Third Quarter 2009 Report, released on 15 December, Singapore’s real GDP grew by 0.6% over the year in Q3 09, after three consecutive quarters of contraction. However, long-term...

Transport subsidies for the disabled – passing the buck?

Transport subsidies for the disabled – passing the buck?

Dec. 9 | Exclusive coverage: Starting from today (9 Dec), The Online Citizen will have exclusive coverage the United Nations Climate Change Conference (COP15) which is being held in Copenhagen, Denmark. The reports are by members of ECO Singapore, writing exclusively...

“Cheaper, better, faster” may just break the camel’s back

“Cheaper, better, faster” may just break the camel’s back

Dec. 1 | Latest: The High Court has granted Yong Vui Kong’s application for a stay of his execution. Yong was scheduled to be hanged this Friday, 4 Dec. His appeal to the Court of Appeal will now be heard next Tuesday. TOC will have a report on today’s...

Mah’s explanation does not square with HDB’s annual report

Mah’s explanation does not square with HDB’s annual report

Nov. 20 | Leong Sze Hian Number of flats sold declined, contradicting Mah’s explanation on reasons for HDB’s S$2 billion deficit. On 7 November, the Minister for National Development, Mr Mah Bow Tan, explained why the Housing and Development Board has incurred...

CPF Life: Helping Singaporeans to decide?

CPF Life: Helping Singaporeans to decide?

Nov. 16 | Leong Sze Hian I refer to the article “Take-up rate of CPF annuity ‘encouraging”. An estimated 700,000 CPF account holders age 55 to 80, are being encouraged to opt-in to CPF Life from September this year. The obvious question that...

Means-testing for organ donor fund?

Means-testing for organ donor fund?

Nov. 10 | The following is a letter by Leong Sze Hian to the Today newspaper. It was published on 10 November here. I REFER to media reports about the NKF organ donor fund. I would like to applaud the National Kidney Foundation (NKF) for setting up the fund to...

HDB Annual Report : Deficit has doubled – really?

HDB Annual Report : Deficit has doubled – really?

Nov. 3 | Leong Sze Hian >> TOC Columnists ACCORDING TO the Housing Development Board’s annual report, the deficit for FY2008/2009 has almost doubled to $2.12 billion from $1.08 billion in FY2007/2008 – due mainly to an increase in Expenditure from...

What has Gini got to do with Medifund?

What has Gini got to do with Medifund?

Nov. 2 | Leong Sze Hian >> TOC Columnists   I refer to the article “Countries with the Biggest Gaps Between Rich and Poor” (BusinessWeek, Oct 23). Singapore’s Gini score of 42.5 is ranked number 2, with the Share of income or expenditure of the...

Electricity: Why does Singapore’s tariff raising ranked 2nd amongst 21 cities?

Electricity: Why does Singapore’s tariff raising ranked 2nd amongst 21 cities?

Oct. 1 | Leong Sze Hian (Top: Singapore ranks 2nd, Credit: CLP Power) I refer to the report “Electricity tariffs for households to go up by 12.5% in Q4″ (CNA, Sep 29). According to Hong Kong electricity producer CLP Power, which supplies about 80...

New citizens outstripping net increase of existing citizens?

New citizens outstripping net increase of existing citizens?

Oct. 1 | Leong Sze Hian I refer to the article “Singapore population of 4.99m is older, more likely living alone” (CNA, Sep 28). Page 11 of the recently released 72-page Population Trends 2009 – narrative on “Population Size and Growth”...

Parents suing their children?

Parents suing their children?

Sep. 29 | Leong Sze Hian I refer to the media report “172 file for parent maintenance in last 12 months” (CNA, Aug 19) about the increase in applications to the Tribunal for the Maintenance of Parents (TMP) by more than 70 per cent to 172 in the previous 12...

Annual fees too high in Special Needs Trust Fund

Annual fees too high in Special Needs Trust Fund

Sep. 20 | This letter was first published at TODAYonline   Leong Sze Hian Starting September 2009, parents of intellectually disabled children can set up a trust for their children, with the newly formed Special Needs Trust Company. The projected return on trust...

National Day congratulatory messages

National Day congratulatory messages

Sep. 19 | Greetings: TOC wishes all our Muslim readers Selamat Hari Raya Aidil Fitri! Leong Sze Hian Every year in August, in the weeks following National Day, there is an extraordinary spate of self-congratulatory advertisements in the national newspapers...

Comparing apples with oranges – “Temasek outdid key benchmarks”?

Comparing apples with oranges – “Temasek outdid key benchmarks”?

Jun. 27 | Leong Sze Hian I refer to the article “Temasek outdid key benchmarks” (ST, Jun 19). In comparing Temasek’s returns with other benchmarks from March 1999 to March 2009, there was a footnote that for Temasek, “Assume March ’09...

Low-wage workers better off, now everybody worse off?

Low-wage workers better off, now everybody worse off?

Jun. 18 | Leong Sze Hian / Columnist With the Labour market still weak, it is time to question the effectiveness of th Jobs Credit Scheme. WHILE the Ministry of Manpower may claim that low wage workers are better off, it seems like the economy is still in the doldrums...

5 Minutes With… Leong Sze Hian on pay rise survey

5 Minutes With… Leong Sze Hian on pay rise survey

Apr. 8 | On Tuesday, Channelnewsasia reported a survey conducted by London-based research ECA. The survey found that Singapore is placed 43rd out of 53 countries in terms of pay rise ranking for 2009. TOC spends five minutes with financial and statistical expert,...

Reaching the needy? More publicity needed

Reaching the needy? More publicity needed

Mar. 30 |   Leong Sze Hian The media recently reported that those seeking financial assistance at the five Community Development Councils (CDCs) have increased by about 40 per cent. Comcare also dished out financial assistance to about 24,000 needy families,...

Retiring backwards?

Retiring backwards?

Mar. 22 | Leong Sze Hian I refer to the article “I can’t take the flat with me when I die” (Today, Mar 2). In the example cited by Today, a 62 year old male with a 3-room HDB flat, will get $5,000 cash and $5,000 to his CPF, followed by a lifelong...

GIC losses – foreign media more important than Parliament?

GIC losses – foreign media more important than Parliament?

Mar. 16 | Leong Sze Hian The reply in parliament last month, to the question on GIC’s losses, was that it was “substantially lower” because of its more conservative lower risk portfolio. The actual loss amount was not revealed. It was only three weeks later,...

Uniquely Singapore – a video with Leong Sze Hian

Uniquely Singapore – a video with Leong Sze Hian

Mar. 14 | Here is a video which TOC did with financial analyst, Mr Leong Sze Hian. In this 8-minute short film, Mr Leong speaks about a few issues which are highlighted in his latest book , “Issues That Matter: Uniquely Singapore – F1 or F9”. Mr Alex Lew,...

Fares up but pay down?

Fares up but pay down?

Mar. 9 | Leong Sze Hian I refer to the article, “How to help cabbies: cut fares or reduce rent?” (New Paper, Mar 6) and Paul Chan’s letter, “High cab rentals and surcharges akin to price fixing” (ST, Mar 4), and media reports that taxi ridership...

From public to private?

From public to private?

Mar. 1 | Leong Sze Hian I refer to media reports about the corporatisation of Changi airport, and that business at Changi airport has also been affected by the recession. Some questions that have been raised are: Who benefits from the transaction when a state...

Reserves – more or less?

Reserves – more or less?

Feb. 23 | Notice: The organisers of the “Our Thoughts are Free” book launch has kindly requested that the announcement be removed from TOC. More details will be given at a later date. Leong Sze Hian Why can’t GIC’s losses be revealed like Temasek’s? I...

Providing affordable housing – HDB should re-look policies

Providing affordable housing – HDB should re-look policies

Feb. 17 | Leong Sze Hian I refer to the article, “Measures to help new HDB flat buyers, existing owners” (Business Times, Feb 6). I would like to applaud the HDB for its pro-active measures to help Singaporeans during the recession, such as freezing...

Together we save jobs?

Together we save jobs?

Feb. 9 | By Leong Sze Hian / Columnist I REFER to the article “Chipmaker Chartered to cut 500 jobs” (ST, Jan 31). Chartered said that it will cut 600 employees, or 8 per cent of its workforce to save US$16 million a year. 540 of these employees will...

Rewarding Mas Selamat?

Rewarding Mas Selamat?

Feb. 5 | By Leong Sze Hian / Columnist I REFER to the article “More likely fugitive has fled” (ST, Jan 16). It states that “Home Affairs Minister Wong Kan Seng narrowed it to either of two scenarios: one, he is in Singapore and hidden by sympathisers...

The Budget

The Budget

Jan. 23 | Leong Sze Hian 12% credit wage reimbursement Since employers can already cut wages, cut the work week and ask workers to take “no pay” leave, to what extent will the 12% job credit wage reimbursement up to the first $2,500 of wages for workers who...