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Originally posted by crimsontactics:
I think you got it the wrong way around. CPF is a good thing for financially irresponsible people as it helps them save for retirement. For those who are financially responsible, it will be a bane instead as they can use their savings to do investments with better returns.
Not in my opinion. If there was no CPF or similar system, people who did not save for their retirement (and there will be many) will need to be supported by the state, and it will be the tax payers that pay for this.
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From http://news.sg.msn.com/article.aspx?cp-documentid=1774346
Agence France-Presse -11/07/2008 0607GMTDBS cuts 900 jobs, reports 38 percent fall in Q3 profit
Singapore's DBS Group, Southeast Asia's biggest bank by assets, said Friday it was cutting 900 staff to trim costs amid the global credit crisis, and reported a slump in third quarter net profit.
Chief executive Richard Stanley said most of the cuts, to be carried out at the end of the month, will come from its offices in Singapore and Hong Kong and will account for six percent of the workforce.
"To be a streamlined organisation, I believe we must run a tighter ship," he told reporters.
"We have been vigilant on costs but as the economy enters a more difficult and uncertain phase, many financial institutions around the world and in Asia have made headcount reductions," he added.
"To be more productive and efficient, we will restructure and streamline the organisation. Regrettably, this has resulted in the need to reduce our workforce by six percent or about 900 people, primarily (in) Singapore and Hong Kong, by the end of the month."
Earlier Friday DBS said net profit in the three months to September fell 38 percent as market-related income took a hit from the global financial crisis and bigger provisions.
Third quarter net profit totalled 379 million Singapore dollars (256 million US), down from 610 million dollars in the same period last year, it said in a statement.
Analysts polled by Dow Jones Newswires had predicted an average 572 million dollars net profit.
"The operating environment is increasingly challenging for financial institutions the world over," Stanley said.
"We took upfront prudential levels of allowances to strengthen our balance sheet and with strong capital and liquidity, I believe we are well positioned to ride out the uncertainties ahead."
Net interest income in the September quarter grew two percent to 1.07 billion dollars from last year but net fee and commission revenues dropped 22 percent to 316 million dollars.
Other non-interest income plunged 87 percent on the year to 11 million dollars.
The bank said it set aside 129 million dollars in provisions, compared with just 10 million dollars a year ago, partly to cover its collateralised debt obligations (CDOs) portfolio.
CDOs are securities backed by a range of assets including bonds, loans and their derivatives, including corporate loans, high-grade mortgages, subprime mortgages, car loans and credit card debt.
DBS was the last of three local banks to report earnings for the September quarter.
Oversea-Chinese Banking Corp (OCBC) said earlier this week third quarter net profit fell 13 percent while United Overseas Bank reported last week a 5.1 percent drop in profit for the same period.
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This reporter (Nur Dianah Suhaimi) obviously needed to find a young super rich spoilt brat for her story. It appears that she ended up asking her sister if she had any rich friends (maybe “any of your friends carry LV bag or not?”), interviewed her sister's friend Agnes Lin, and then proceeded to write the story below, essentially turning her into Singapore’s most hated and famous “rich spoilt brat” overnight.
In her personal blog (and also TOC), Agnes gives her side of the story.
Who do you believe?
ST Reporter
"Rich spoilt brat"-----
(From http://www.asiaone.com/Business/News/My%2BMoney/Story
Nur Dianah Suhaimi
Tue, Oct 28, 2008
The Straits Times
Mum & Dad will provide
For 20-year-old undergraduate Agnes Lin, the recession could just be academic.
The Nanyang Technological University first-year student has never been in need: She carries a $2,000 Louis Vuitton handbag to school and uses only Shiseido cosmetic and skincare products.
She carries around the latest mobile phone and goes on overseas vacations with her friends where she would bust $1,000 on shopping alone.
Twice monthly, she shops at her favourite stores - Topshop, Zara and Forever21.
Mum, a private tutor, and Dad, a businessman selling polythene bags, pay for her expenses.
Miss Lin is aware that Singapore faces a recession but the news does not bother her.
She said: 'I think it is okay for me to maintain my current lifestyle. I may be spending a little bit more than my friends but I don't think I'm overspending.'
At the moment, she has her eyes on the latest mobile phone in the market, the HTC Touch Pro, which costs about $700.
Although her mother has said 'no' to her buying yet another mobile phone, Ms Lin has an inkling she will still get it.
'I think my mum will still buy it for me. My birthday is coming up!' she said with a giggle. She confessed that since young, she has never run out of cash. Her parents give her money whenever she asks.
Since she was 16, her monthly pocket money has been $500.
She has an older brother, also an undergraduate. The family live in a four-room flat in Marine Parade.
She thinks a friend of hers, who is left with $20 to last until the end of the month, is silly to consider taking up a part-time job to earn some extra cash.
'I don't understand why she cannot just ask her parents for money,' sighed Miss Lin.
She will enter the working world only after three years but she is already planning ahead.
With her first pay packet, she will buy a $4,000 Chanel bag. 'After that, I will probably get more bags and watches,' she added.
This article was first published in The Straits Times on October 26, 2008.--------
(From http://twinkletooes.livejournal.com/76598.html)
break my silence.
/edit edit edit edit (lol)
by the way, I did not screen those negative comments.
everything you see is everything that is posted by people
EVERY SINGLE ONE OF THEM.
things are beginning to look up, I know there are some people who still think that I'm doing this for damage control.
Hmmm, but if so, how come I did it on Monday, instead of Sunday itself when I had it the worse.
Oh well, people can think whatever they want of me, I've done nothing wrong, am not afraid.
I just wanna thank TOC for standing up for me and refuting ST.
the link is here in case you guys wanna read.
http://theonlinecitizen.com/2008/10/toc-exclusive-agnes-lin-a-victim-of-the-st/
Thank you to everyone and anyone who pops by.
It really means the world to me.
/edit edit edit
till now (130pm) there is still no reply from ST's side.
Well, we can all see why.....
/edit edit
Thank you to everyone out there who sent me encouraging messages, trusting in me and believing me.
I love you all.
:)
/edit
now the whole damn world (except my friends and some strangers who left me very encouraging messages on FB) hates me for something i didn't do.
and there's nothing I can do about it because I was a dumb shit to have accepted that interview.
sigh, good life to me then.
ok, i think its time for me to speak up, especially since i did nothing wrong.
Firstly, no i did not call my friend SILLY for wanting to work part time and i did not, for one, said that i do not understand why she cannot just ask her parents.
What the reporter asked me was " Do you have any friends you know facing financial difficulties or are in need to money?"
I said " Yes, I've got a friend who has only 20 dollars left for the month. I told her to ask her parents but she said no because she want to be independent because she is already 20 and should not be asking for her parents for money so often already.. So she asked me whats the fastest way to earn money."
WHICH PART STATED THAT I SAID SHE WAS SILLY? HELLO, STUPID REPORTER OBVIOUSLY DO NOT UNDERSTAND ENGLISH.
And oh, guess what? She is avoiding my calls like a coward. Sorry Adilah, but this time your sister got me into deepfried shit.
So tomorrow, I will pick up my AWESOME phone, which i told her is currently a lousy phone because my HTC is spoilt (she did not include that), and dial 63196319 to ST.
I will clarify to them that i was misquoted.
I want justice done.
Secondly, what happened to the part where I said I paid for my own air fare and hotel plus my own telephone bills?
WHERE ARE THERE?
I asked Adilah (reporter's sister) and you know what crap she said?
She said " I can't write that down because She (meaning me) did not want me to write that she is bonded, and if i write that she is paying her own bills, it will show because this means that she is drawing a salary"
HELLO ASSWIPE!
drawing a salary means bonded meh?
I cannot work part time meh?
Drawing a salary does not necessarily mean that what!
pls la, pls....
don't give me crap like this just to cover your own shit.
This whole shit is twisted to the point because she wants to compare between teens who are spoilt fucks and do not need to worry for shit and others who are more concerned.
ISN'T IT OBVIOUS NOW THAT YOU THINK ABOUT IT?
i was misquoted and i want my justice done.
MARK MY WORDS, TOMORROW WE WILL SEEEEEE
WHO GETS THE LAST LAUGH.Edited by Jason 30 Oct `08, 9:10PM
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Dear Resident,
CRIME ALERT: THEFT OF CABLES FROM LIFT UPGRADING PROJECTS (LUP)
This letter serves to alert you on a recent spate of cable thefts from lift upgrading project sites. These cables are usually kept in temporary stores such as switch rooms or pump rooms for use in lift upgrading projects (LUP).
These switch rooms are usually secured with padlocks; however there were instances where padlocks were found opened without any tampering marks. Besides monetary losses, contractors also had to endure significant inconvenience and delays to their operations as such thefts impede the progress of upgrading works.
If you have any information pertaining to the above cases, or wish to report any suspicious persons carrying items such as cutters, trolleys or large bags, loitering at the vicinity of the void decks where lift upgrading projects are in progress, contact the Police at Police hotline at 1800 – 255 0000 or dial “999” if urgent police assistance is required.
Thank you and regards.
The above information has been reproduced with the permission of Singapore Police Force (SPF). Any feedback should be made directly to SPF at www.spf.gov.sg/feedback.htm. If you wish to report a crime, call “999” or go to any Neighbourhood Police Centre/Post or www.spf.gov.sg/epc. Nothing hereby signifies any endorsement of this forum by SPF.
Edited by Jason 06 Aug `08, 11:38AM
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CLICK HERE TO SIGN UP FOR THE CONTEST!
(click here to watch the informational video)
Celebrate National Day by Joining the Qoo Roo Talk Show!
Comiqs.com will be launching the world’s first Comic Talk Show online application on 7th July 2008 to celebrate Singapore’s 43rd National Day. The host of the Comic Talk Show is a Comiqs cartoon character by the name of Qoo Roo. He is cute, crazy and funny! Qoo Roo will start the show by asking Singaporeans questions related to this year’s NDP theme, “Celebrating the Singapore Spirit”. Users will upload images of themselves and answer questions in comic strip format.
Prizes
As this is a contest of wits, a panel of judges will decide whose answers are most interesting.
20 winners will win cutting edge Anti-theft mobile gadget software courtesy of Bak2U Pte Ltd.
Partners
Partners include high traffic websites such as SPH’s Omy.sg; top local lifestyle forum, Sgforumsc.om; top local lifestyle review website, Yebber.com, Asia’s blog advertising network, Blog2U.sg and Nexus.
Rules and Regulations
1. Contest period from 7th July to 9th August 2008. All entries must be submitted within this period.
2. Contestants may only use their own photos to participate in the contest.
3. Winners will be notified by email. The results will be released on the 14th August on Comiqs.com.
4. Winners are required to produce their identity cards during prize collection.
5. The organisers and partners reserve the right to use the winning entries for any publicity or marketing purposes, as well as for the furtherance of national or public interest.
6. The judges’ decision is final and no correspondence pertaining to the decision of the results will be entertained.
7. Submission of entries signifies acceptance of the rules and regulations above.
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Not sure if anyone else has seen this:
(from http://www.brandrepublic.com/Asia/News/815377/SingTel-debuts-3G-iPhone-Singapore/)
SingTel debuts the 3G iPhone in Singapore
10-Jun-08, 09:23
SINGAPORE - SingTel will become the first telco firm in Singapore to offer the newly launched 3G version of the iPhone.
First previewed by Apple’s CEO Steve Jobs at the Worldwide Developer Conference on June 9th, the mobile device features improved 3G networking speeds and built-in GPS functions at a cut-down price of US$199.
Tim Cook, Apple’s COO, said: “We are excited to be working with SingTel to bring iPhone 3G to millions of mobile customers in Singapore. We can’t wait to get this revolutionary mobile device in the hands of even more people around the world.”
Quek Peck Leng, SingTel’s executive VP of consumer, added: “We are pleased that Apple has selected SingTel to be the first mobile operator in Singapore to launch its new iPhone 3G.”
“Customers can enjoy internet access on the move, supported by SingTel’s 3G network coverage and new range of services which we will be launching over the next 12 months.”
The Singaporean telco will reveal full pricing and availability of the Macintosh product later this year while a microsite has been developed for local consumers to pre-order for the highly-anticipated device.
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CRIME ALERT: THEFT OF PETROL FROM MOTORCYCLES
Lately, there has been an increase in the number of petrol thefts from motorcycles parked at car parks. In these cases, the culprit(s) would tamper with the exposed fuel pipes of a motorcycle before using a manual pump to siphon the petrol into a container.
2. These thefts had predominantly occurred at the northern and western parts of the island, including Bukit Panjang, Jurong West, Woodlands, Redhill and Telok Blangah estates, and would usually be perpetuated during the night when human traffic is low.
3. While the police have increased patrols at these locations, we strongly advise vehicle owners to adopt the following crime prevention measures to avoid being the next victim:
a) Park your vehicle in a well-lit area;
b) Secure your motorcycle with a canvas and secure it with a lock;
c) Install an anti-theft alarm and ensure that it is always in good working order;
4. If you have any information pertaining to the above cases, or wish to report any suspicious persons loitering at the vicinity of the car parks, especially when they are carrying items such as manual pumps and containers, please inform the Police immediately at “999”.
5. Thank you and regards.
The above information has been reproduced with the permission of Singapore Police Force (SPF). Any feedback should be made directly to SPF at www.spf.gov.sg/feedback.htm. If you wish to report a crime, call “999” or go to any Neighbourhood Police Centre/Post or www.spf.gov.sg/epc. Nothing hereby signifies any endorsement of this forum by SPF.
Edited by Jason 04 Jun `08, 9:54AM
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I recently talked about YouPorn being the #21 most popular site in Singapore, which resulted 5 days later in the MDA swiftly blocking access to several pornography sites referenced in Alexa’s list of top 100 most popular sites in Singapore. I think the government might be facing an identity crisis over how to handle pornography – which brings me to the question – is legalising porn the next logical step for Singapore?
To the government, there is very little reason not to legalise porn. Prostitution is already legal in Singapore, and we are building several massive casinos, both of which are, in my opinion, far worse vices than pornography. We also train our children as young as 16 to kill people (in defence of our country). Pornography is already legal in many developed 1st world countries like the US, UK, Australia, Japan - with its traditional and conservative society - and even deeply religious countries like Israel! There is very little we can do to enforce or control pornography on the internet. Legalising pornography would be in line with the government’s policy of encouraging breeding amongst our population. We can become the “porn hub” of S.E.A, and of course, “Singaporn” would be a great brand name!
On the other hand, there are many downsides. Pornography might erode our society’s moral values, corrupt our young, encourage deviant and unacceptable sexual behaviour, increase sex crimes, lead to more unwanted pregnancies, single parents, broken families, STDs, unsafe sex, premarital sex, and so on. However, sometimes it is just easier to push the blame onto something else other than poor parenting and supervision, and lack of education.
Would you support or oppose the legalisation of porn in Singapore? If the government were to propose to legalise porn, how would you respond?
Edited by Jason 18 May `08, 6:05PM
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My guess about the qualification is that they are looking for a certain gender / age profile, and also once they fill their quota for a certain gender/age combination they will stop taking surveys for that.
But thanks for trying! There will definitely be other surveys with different profiles needed
Edited by Jason 16 May `08, 9:37AM
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NOW TARGETING WOMEN 30+ YEARS!
We are entering into a partnership with unitedsample.com to provide our members rewards for participating in surveys. The first survey will be a 'Health and Overall Wellness Survey'.
Click here to participate in this survey
Unitedsample.com will reward each member 5 USD for completing this survey. This will be paid to you via PayPal, and you will need to accumulate a minimum of 20 USD (from future surveys) to withdraw this money.
As a special launch promotion, I will also reward every competed survey with 1 year free Premier Membership.
We are accepting a maximum of 500 completed surveys only, so click here to participate in this survey NOW!
Edited by Jason 29 May `08, 2:11PM
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