WP and PAP, FMSS and AIM, Who Cornering Whom?

Oh oh did PAP anyhow count to anyhow whack WP?

"MND’s latest response of 14 May 2013 claims that our media release earlier that day showing that the increase was only 4.16% gave an incomplete picture. MND stated that they compute the MA rate by dividing the MA tender rate by the total number of residential and commercial units. However, even adopting MND’s methodology of including both residential and commercial units, we find that the rate difference should only be 4.55% and not 20%"

WP Statement

First PAP bring up FMSS say it lacks corporate governance. Hey AIM also like lack corporate governance? Then PAP said FMSS created without tender. Hey but AIM was PAP's scorched earth policy and FMSS was urgently set up to prevent that, to protect residents? Then PAP said FMSS was filled with WP supporters? Hey isn't AIM made up of PAP members?

Now the last straw, PAP then claimed WP's managing agent's rate 20% more than before but WP said they calculated left, right, centre, inside, outside also at most, the increase is 4.55%, understanding that FMSS does not enjoy the economies of scale compared to CPG? Facepalm.

The only thing that PAP made sense is that town councils are political. Let's not kid ourselves.

The Idiot Parade: Zainudin, Lina, 21 Malaysians, Jolovan

Lots of idiots parading in front of us this past week. Firstly, it was Bishan-Toa Payoh GRC MP "gang rape is democracy" man. Facepalm. And we thought "blood will be shed" Vivian Balakrishnan or "I don't know what to say" Tin Pei Ling were bad. OK so what if Zainudin was quoted out of context. That is the game right? If it is too hot, stay out of the kitchen! Well, talking about kitchen, Aunty Lina Chiam who lost Potong Pasir the last time should stay in the kitchen and not wear the pants and try politics. Oops am I sexist? She tried to hit Zainudin with a frying pan in her SPP statement because the PAP MP made the gang rape mobocracy quote. In the end she slipped and fell on her fat ass as she didn't understand what the hell was happening and thought that Zainudin condoned rape culture. LOL Let's boot out idiots Zainudin and Lina next election PLEASE!

Then there were the Malaysian protestors at Merlion. WTF instead of protesting outside the Malaysian High Commission or take a bus to JB to protest at City Square since that is Malaysian problem right? No, they too lazy to go Malaysia JB and want to protest somewhere in central Singapore instead. There was an earlier protest where 9 were warned. Then others didn't get the message and protested at Merlion on Saturday. Police cannot take it that these Malaysians cannot get the hint, so had to arrest 21 from this second protest next! Since the 9 inspired whether they intended or not, these 9 would probably be sent home now, and the 21 would be jailed and/or fined and then sent home. Too bad for the employers who hired these 20, have to hire other Malaysians instead.

Anyway, I don't care and it is good entertainment, more fun than what 6.9 protest at Hong Lim park by that Gilbert guy. Still, PRC workers strike, Malaysians protest, what next? Bangla flash mob? LOL wait, I better not laugh, it might happen!

Then Jolovan Wham is back again at Speakers Corner. First he showed solidarity with PRC drivers who went on strike. Now he showed solidarity with Malaysians who protest. What is his infatuation with foreigners breaking laws? Wasn't it reported before he went to Hong Kong and asked Hongkies to protest to help the Tiong workers who got arrested for the strike here? He really likes foreigners who play hardass and resist!

Polys Are Jewels, Real or Bluff?

Polys are now different from before. Years ago when porn meant smuggling in Penthouse magazines from overseas instead of just surfing for it on your LTE phone, polys were meant for those who could not make it into JCs. Polys were for those who cannot make it academically and were to be drafted into the technical skills-based blue-collared workforce. JC was the path into local universities and that was it.

Nowadays, the demographics of poly students is more varied. More of the O level students if they know what industry they want to end up in life, chose to go into polys. So as to get a head start on the practical aspects of their preferred industry, even though they could make it into a branded JC. Polys were also how less stellar students hedged their career crossroads, they get a diploma first and if they really cut it academically, can then go to university overseas if they have papamama scholarhsip. They can even get into the local unis if they are top what, 10% in their cohort, despite NUS saying that this quota is an urban legend. Disadvantaged compared to JC students still. How many president scholars are from polys BTW?

The new LKC medicine school in NTU is interviewing prospective students from polys and JCs. How many do you think would be from polys? In NUS, how many poly grads are admitted into law and medicine school? In fact, how many poly grads apply for and are enrolled in NTU and NUS compared to JC students? Nonetheless, the new Singapore Institute of Technology and Singapore University of Technology and Design seems like it would be much more open to poly grads than JC kids, so there's that too.

Polys are more relevant as a stepping stone tertiary education system with the 2 technical unis in the horizon. They still roll out grads with applied and ready skills for the industries. The grads however don't get paid as much as uni grads, although as tertiary grads they are paid better than A level and vocational ITE grads. BTW that's why poly kids such suck it up about their lack of transport concession as tertiary students stop comparing with JC students about cheaper bus or train fares. Back to the topic, with entry pay as the yardstick, polys grads are important, but they are not as valued as much as uni grads by employers. Polys are jewels in the education system, yes, but...

Polytechnics a ‘jewel’ in Singapore’s education system: PM
By Saifulbahri Ismail


SINGAPORE — While some polytechnic graduates may see their time at the institutions as the basis from which to upgrade themselves educationally and in their careers, Prime Minister Lee Hsien Loong said they need not see a degree as the only avenue up, as he affirmed the role of polytechnics yesterday.

Speaking at Ngee Ann Polytechnic’s (NP) 50th anniversary dinner, Mr Lee called polytechnics a “jewel” in Singapore’s education system that offer a “first-rate” tertiary education for their students.

“They are high quality, practice-oriented technical training for jobs. They lay a solid academic foundation, especially in technical subjects in Maths and Science, for those who go on to further their studies,” Mr Lee said.

Those who choose to get a degree should not do so just to gain a paper qualification, but because of their interest in the subject and relevance to their future plans, he said, pointing to the diversity of NP’s Alumni Award winners, which shows that many other “good options” are available, such as working for a few years or starting a business.

These options allow graduates to gain experience and understand themselves better, and such life lessons will complement their education and help them go further in life, he added.

Mr Lee also reiterated the need to prepare students for the future as it makes a critical transition “amid a fast-changing and uncertain world”, and said the Government will continue to strengthen the polytechnic sector to ensure it continues to produce graduates with a wide range of skills.

In addition, he commended NP for developing in tandem with Singapore’s progress, first by offering diploma programmes in response to demand from industry as Singapore’s economy took off, and then expanding its role with a focus on hands-on, industry-oriented training, into a “vibrant” tertiary educational institution.

NP yesterday launched its fourth Strategic Plan, which aims to forge a closer nexus with industry.

As part of new initiatives, polytechnic students will form multidisciplinary teams while on attachments.

Ms Jeanne Liew, Registrar and Senior Director at Ngee Ann Polytechnic, said: “It could be, for example, engineering and business students coming together because engineering problems today may not just be engineering problems, it could be things like the business model, it could be marketing, it could be also the design of the product.”

NP will also introduce more overseas programmes to broaden students’ perspectives.

May Day! May Day! Gilbert Shouts

Why do loser parents ask their kids to hold placards? For sympathy? Act cute? Tsk tsk human shield?

Who the fuck is this guy Gilbert Goh? From Australia, unemployed, not liked even by some activists, party hopper from Reform Party then to National Solidarity Party, and from the patronage he got from SDP, he might join SDP soon. Or maybe not. Vincent from SDP pulled out from the May Day event - is it because he suddenly realised that Gilbert Goh is a political lead weight around his neck that would pull his SDP down? The smart guy who have noticed that all this while, WP have distanced themselves from Gilbert. WP knows its shit.

Another guy who backed out was Nizam Ismail. I never heard of him before and must have been the token Malay to speak at the event. He pulled out from the May Day event and left poor Gilbert swinging.  WTF, that's what politics is, grow up and grow some balls. First say want to whack the government, and then after a while backed down? Hey, did that apply to Vincent too?

The only good outcome of the event was that Speakers Corner can be a lively place and peaceful protests is not an oxymoron. Never mind that many there were many motley groups of disgruntled people e.g. people in their 40s who claimed foreigners took their jobs and never understood that people in 40s lose their jobs every time as they are more expensive and less productive, not because foreigners stole their jobs. 

In fact, more peaceful protests at Speakers Corner please! Don't let Pink Dot dominate or let Speakers Corner be wasted by Mad Ravi booking a Saturday and then end up hugging and molesting a Hong Lim Park tree. I'm happily looking for more protests by Gilbert - it is like an entertaining retard circus of whining Singaporeans who only complain and don't realise that foreigners are needed in Singapore and all that matters for us to welcome them into our arms, besides the Vietnam and Tiong XMM at health centres, is better infrastructure to manage the numbers.

Update

This retard is back with the same sign! He is persistent!

Khaw Rocks Market and HDB Doesn't Get It

Remember Khaw Boon Wan, the minister who introduced means testing for healthcare? The one who said send your parents to Batam old folks' home?

Khaw Boon Wan recently sent little shock waves into the EC, resale and BTO markets by saying something is wrong with the EC system. He never elaborated what he really meant and now buyers, sellers, agents and developers all not sure whether new rulings would go south for them or not.

Khaw said that EC owners tended to make more compared to BTO when they sell their flats and that is unfair. WTF is he talking about? Market forces what! If people want to spend more to buy a resale EC compared to a resale HDB because the former has condo facilities, of course the EC seller can earn more profit from the sale! Also, ECs are more expensive in the first place compared to BTO, and the grant is the same for an EC and a BTO? What inequity towards the BTO buyer? The EC buyer's housing grant as a percentage of buying price of condo is smaller than that of a BTO right? WTF!

People are going crazy trying to guess what this MND minister has got to say in the coming weeks and months. Resale levy is in the air, capital gains tax on EC when sold, less subsidy for EC buyers? BTW I thought HDB is about building basic homes? I don't mean attap houses like in our grandparents' days but EC are really departures from "simple" homes, OK I admit "simple" is subjective and we expect more comforts compared to when the first HDBs were built in the 1960s. But tennis courts and swimming pools for public housing?

Actually, if there is any HDB policy revamp HDB should look into right away, besides building as many flats as possible now, is COV of resale flats. Bring it down, get rid of it. Not really the EC market which is just a tiny market compared to HDB homes up for sale.

Analysts call for resale levy on HDB-to-EC upgraders


SINGAPORE: Some property observers say imposing a resale levy on those upgrading from a HDB flat to an executive condominium (EC) could be one of the tweaks the government may make to the current EC scheme.

But they remain divided over the relevance of the current EC scheme in today's market.

National Development Minister Khaw Boon Wan had said on Thursday that the EC scheme cannot carry on in its current form.

He pointed out a "sense of inequity" between HDB and executive condominium owners.

Mr Khaw had suggested that EC owners may make more profit than HDB flat owners in the resale market.

Executive condominiums seem to be drawing a larger profit margin for owners in absolute terms, compared to HDB flats in the resale market.

According to data from the Singapore Real Estate Exchange, a four-room flat in Choa Chu Kang was sold at a median price of S$136,000 in 2005.

But the median resale price for such a unit was more than S$420,000 last year.

In comparison, executive condominium The Quintet was priced at about S$478,333 in 2005.

The median resale price for such EC units was about S$905,000 last year.

Observers point out that the price increase in percentage terms tell a different story.

For the same four-room Choa Chu Kang HDB flat, there was a 209 per cent price increase, as compared to the 89 per cent increase for the executive condominium.

Analysts say the percentage gain should also be considered when factoring the profit made by home owners.

Currently, HDB flat owners upgrading to a new Build-To-Order flat are subject to a levy, ranging from S$15,000 for a two-room flat to S$50,000 for an executive flat.

Property observers said imposing a resale levy on HDB flat owners upgrading to an executive condominium could be one of the tweaks the government may make.

Mr Mohamed Ismail, CEO of PropNex, said: "An existing BTO flat owner, when he buys another BTO flat, he is subjected to a levy based on the existing size of a BTO flat.

"But on the other hand, an existing HDB owner, when he wants to upgrade to an executive condo, he is not subject to a levy. There again, a sense of inequity.

"The point that you can afford and the point that you are making a profit from your BTO flat, why are you not subject to a levy while an HDB upgrader is? Probably this is another area, if any form of tweaking may well take place."

Lee Sze Teck, senior manager of research and consultancy at Dennis Wee Group also held this view of imposing a resale levy on those upgrading to an EC.

Mr Ismail added that the government could choose to get rid of all forms of grants for ECs or impose a tax on the capital gain made from selling an EC.

But he said these measures would be extreme.

According to data from the Singapore Real Estate Exchange, 135 executive condominiums have been sold on the resale market this year, fetching a median price of
S$990,000, an 8 per cent increase compared to 2012.

The executive condominium scheme was re-introduced in 2010 and caters to the sandwich class in Singapore - those who do not qualify for a new HDB flat but who also cannot afford a new private property.

But just how relevant is the EC scheme in today's context?

Observers have mixed views.

Ku Swee Yong, CEO of International Property Advisor, said: "ECs in the totality of things only cater to a fraction to the total market of 1.2 million households in Singapore.

"There are about 10,000 of them today, with another 9,000 on the way. Do we really need a scheme for just this category of people?

"Is the scheme of executive condominiums today outdated? Is it right in today's age, given the income that's above the median GDP per capita, that these families really need to buy taxpayer subsidised products? Are they really a sandwiched class?"

But Nicholas Mak, executive director for research & consultancy at SLP International Property Consultants, said: "Right now, the scheme does serve its purpose. There are many households out there who are aspiring to buy private condominiums but are not able to do so and actually this EC scheme is serving a large part of this sandwich class.

"But the other thing is that buyers of executive condominiums are bounded by public housing rules. So, if the government were thinking of reducing the subsidy given to EC buyers, they should likewise roll back on the public housing rules that bind EC buyers.

"But if the government were to roll back all the subsidies, that means reduce all the subsidies to nothing, then ECs would be no different from the mass market private condominiums."

Mr Mak also suggested the government could potentially consider having the HDB, and not private developers, develop EC projects.

He said if the government were to develop EC projects, it would be able to control the price of ECs as well.

The topic of executive condominiums is set to be discussed further at other Our Singapore Conversations on housing in the next few months.