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Economic News

Maybe doctors "have to" prescribe medicine, otherwise others may perceive that the doctor did not give you any therapeutic treatment. Cannot be literally just "see doctor" only mah!:D

Unlike what's practised in many western countries, Drs in sg and my "sell" Medicine on top of prescribing., lucrative biz
 
Actually nowadays vry easy liao, take what medicine, want more info, can google. But clinic doctor can be very cunning, like they give panadol, they give generic (cheaper) and in tablets form (not stay in the blister pack) and somemore the tablet got no way to identify what medicine you are taking. Only the sealer wrote, fever 1 three time daily. Same thing can be happen to antibiotic.

As for heart disease, diabetes etc, sugar is the biggest culprit, rmb sugar is made by 1 molecule of glucose and 1 molecule of fructose, human cannot process fructose well. Will be too lengthy to drill into this issue, many info available freely online.
 
Unlike what's practised in many western countries, Drs in sg and my "sell" Medicine on top of prescribing.,
lucrative biz

Nowadays we all buy a lot of our medicine from Caring Pharmacy. They got full time pharmacists there.
GP cannot cari makan these days.
 
If you follow his posts from old times, it's pretty obvious he's a Johorean. Maybe he's a SG PR or has gotten his SG citizenship by now. Actually I realise that the worst critics of Malaysia are not Singaporeans, but local-born like him. I have seen many such examples over the course of my work.

Wah, suddenly I become an "Economic News" topic and so much interest generated about me..................keep on guessing, discussing, wondering, its fun but sorry, no prize for the correct answer.
 
Across the Causeway: Home away from home
Oct 13, 2016 06.23PM |

WHEN Madam K C Neo, 72, was referred to a nursing home in early 2014, she had just one request.

She pleaded with her husband that she would prefer a single or twin room, as she did not want to spend her remaining days in the company of “many, many strangers”.

“I have had my own room ever since I was married,” said the retired administrative assistant who used to live with her husband in a three-room HDB flat in Toa Payoh.

Single or twin rooms are only available for private-paying patients in Singapore and these can cost upwards of $3,500 per month.

Rather than stay in a government-subsidised open ward, which she is eligible for, Madam Neo moved to a twin room at City Heart Care Nursing Home in Johor Bahru, Malaysia, a 30-minute drive from the Causeway. She pays only $750 a month, about a quarter the amount.

“It’s peaceful here, I have my privacy – and it’s cheap, compared to Singapore.”

Like Madam Neo, a small number of Singaporeans are trekking across the border to live out their last years in nursing homes and old folks’ homes in JB.

“It’s peaceful here, I have my privacy – and it’s cheap, compared to S’pore.”
Exact figures are not available, but checks with three of the state’s largest nursing homes – City Heart Care, Spring Valley and ECON Medicare Centre — showed that 15 to 30 per cent of residents there are Singaporean.

The three homes have more than 600 beds. City Heart has a cluster of seven single-storey and three double-storey bungalows in a private housing estate, some with high ceilings, with a garden outside.

The home, which has been in operation since 1993, has 200 beds, up from 39 when it started, said its Malaysian founder, Mr Yeo Thiang Huei. Close to 20 per cent of its 180 residents are Singaporeans. Fees went up this year and currently start at $850 for Singaporeans, up from $750 earlier. Some rooms and wards are air-conditioned at no extra charge.

While Mr Yeo said he had no immediate plans for expansion, Spring Valley Homecare, which with 210 beds is believed to be one of the largest care homes in JB, plans to expand further, said Mr Frankie Ker, a Singapore permanent resident, who set up the home in 2006.

The majority of the beds at Spring Valley are in open wards with no air-conditioning and cost $600 a month for Singaporeans, way less than the $2,000 or so they would need to pay before subsidies back home.

Unlike the norm in Singapore or JB, all charges, including “hidden costs” – such as consumables – are displayed on its website.

“Since we are competing on cost, I think it is important to be transparent,” said Mr Ker.

The home also offers the cheapest “single rooms” at just $700 a month. These are 30 cubicles created by partitioning one of the bigger dormitories. At 6.6 sq m each, they are barely big enough to fit a single bed, cabinet and chair.

“They filled up quite fast, so I am planning a new home which will be fully air-conditioned and offer only single rooms,” said Mr Ker. The new three-storey 84-bed home is expected to be ready in early 2017.

Around 30 per cent of Spring Valley’s 180 residents are Singaporeans. Both homes have only a small number of beds with a nursing home licence, which requires stricter oversight from local health authorities.

Most beds are licenced as “old folks’ homes” by the Malaysian Social Welfare Department. The operators explained that, according to Malaysian law, at least 40 per cent of care staff in nursing homes must be nurses, just like in hospitals.

That, they feel, is expensive and unnecessary, as nursing home residents generally do not need the same intensive care provided by hospitals. By licensing only some beds as nursing homes, they can keep costs affordable.

A refuge for the sandwich middle-class

Meanwhile, cheaper prices are the biggest pull-factor, especially for middle-class Singaporeans ineligible for subsidised nursing home care back home.

These include families with per capita incomes above $2,600 per month – around a third of the resident population in Singapore. Those with per capita incomes of $1,800 to $2,600 get only 20 per cent subsidy, meaning they would still need to fork out $1,600 per month for a nursing home bill of $2,000.

“The rich can afford one or two maids, the poor are well-looked after, it’s the sandwich class that comes to us,” said Mr Ker.

“The rich can afford 1 or 2 maids, the poor are well-looked after. It’s the sandwich class that comes to us.”
Both City Heart and Spring Valley cater to a similar demographic of Singaporeans – most are single men; many have dementia and other mental illnesses. “Even after the new nursing homes were built in Singapore, we are still getting many dementia cases,” said Mr Ker.

Some Singaporean residents interviewed said they agreed to move to JB because they do not qualify for subsidies in Singapore.

A 44-year-old accident victim, paralysed from neck down, said his air-conditioned twin room at City Heart costs less than a third of what it would cost in Singapore.

“I have learnt to love myself, since I am usually on my own.”
“It’s not fair to burden my siblings even though they are doing well. This place is comfortable and home-like, and I have learnt to love myself, since I am usually on my own.”

Former lorry-driver, Mr Maurice Ong, 60, who is single, claimed he moved to JB after being told by medical social workers that he was “not sick enough or old enough” to qualify for a subsidised nursing home in Singapore.

He had a stroke in his late 40s and was living at home with his mother and a domestic helper.

When his mother died a few years ago, he applied for a nursing home. “I was told I should continue staying at home with a maid,” he said.

But he was not comfortable with this arrangement and, after a stint at a private nursing home in Singapore where he paid $2,000 a month with the help of a nephew, he moved to Spring Valley.

“Here I can get care round the clock, physiotherapy and four meals for only $600,” he said. He rented out his Tiong Bahru HDB flat to pay for his fees in JB.

“Here I can get care round the clock, physiotherapy and 4 meals for only $600.”
Ms Alison Hoo, 78, is another Singaporean at Spring Valley. She left the Lion City for Bordeaux after marrying a Frenchman decades ago. After he died, she sold the holiday resort they ran together and decided to move back home.

“But Singapore had changed and was so much more expensive,” said the soft-spoken former nurse who has friends and family on both sides of the Causeway. She decided to move to the JB home “to stretch my dollars more.”

She has transformed a sunny corner of a cavernous general ward at Spring Valley into a cosy personal space with pretty potted plants, multi-coloured pillows and a small writing desk with her wifi-enabled laptop – her vital connection to the wider world.

Three windows by her bedside offer views of tranquil, lush foliage. The bed next to hers was empty, so the home allowed her to use it to store her books and potted plants for free.

“They know I am a permanent resident here and they’re being kind,” laughed Ms Hoo.

Counsellor Martha Teo, who spent a week staying at Spring Valley in 2015 while researching her Master’s thesis, said some Singaporean families she met were upset at not qualifying for any nursing home subsidies back home.

A woman in her 50s and her adult daughter who would visit the husband frequently at Spring Valley “were both bitter that they did not get any subsidies because they still worked,” said Ms Teo. Their combined pay – at just under $8,000 – was less than the $8,666 median income for working households in Singapore.

“They were worried about long-term costs and tired of making the long journey to JB,” she said.
 
WHEN you’re too old to take care of yourself, where will you live?

For most people, Singapore’s nursing homes are a last resort – but according to a new 130-page report commissioned by the Lien Foundation and Khoo Chwee Neo Foundation, even this is no longer an option.

Rising costs have made it un-affordable for some people, who have turned to Johor for an empty bed to live out the rest of their lives. But even for those who can afford it, the conditions are not ideal, argued the report released last week.

Not everyone agrees, however. Representatives from six nursing homes have written in to The Straits Times to say things aren’t that bad – even as they acknowledged there’s room for improvement. Read our story about the disagreement here.

As for the report itself, it’s packed with facts and figures that laid out the challenges ahead for the nursing care industry in Singapore. It’s a fascinating read, but if you’ve no time, here are 10 facts that we found that we think you should know about:

1. There will be 92,000 elderly people living alone by 2030.

That’s more than double the 41,000 elderly people who are now living on their own. Which means if we’re already lacking in affordable assisted living facilities, the problem is just going to get exponentially worse.

2. In some homes, as many as 15 people share one toilet.

Many homes suffer from overcrowding due to a lack of resources. Besides having to share a toilet, some residents in charity-run homes have little more than a bed, cabinet and a toothbrush to call their own.

3. The G spent $360,000,000 on nursing homes last year.

It’s more than triple the $110 million spent in 2011, even though it still accounts for less than 4 per cent of the G’s overall health budget. The bulk of the cost went to patient subsidies.

4. Up to 85 per cent of nursing home staff are foreign workers.

Most nursing home employees are from the Philippines, Myanmar, India, Sri Lanka and China. Some of them are paid only $350 a month, which is less than what most domestic workers get these days.

5. There are only about 12,000 nursing home beds in Singapore.

Of these 12,000 beds, about two-thirds or 8,000 are managed by charities or voluntary welfare organisations, which take subsidies from the G to offset operation costs. The remaining third are privately-owned.

6. The cost of a single-bed room for one month is $6,000.

Single beds at privately-run nursing homes can cost up to $6,000 a month. If it’s privacy you want, you’ll have to pay for it.

7. In Malaysia, it’s $750.

Beds in Malaysia are cheaper – by a lot. And they’re nicer too. According to the report, which looked at three of JB’s three largest nursing homes, 15 to 30 per cent of residents there are Singaporeans.

8. Almost half the nursing home residents are aged 80 or older.

A survey of six nursing homes found that 45 per cent, or almost half, were 80 years or older. Interestingly, they were overwhelmingly Chinese – 87 per cent.

9. As many as one of every three residents are tied to their beds – supposedly for their own good.

This is despite the Enhanced Nursing Home Standards stipulating that physical restraints should only be used as a “last resort”. The use of restraints are more common among residents with dementia and similar mental illnesses.

10. No one really knows how long you’ll need to wait for a bed.

While the Ministry of Health provided some numbers, it did not release any data on how long a person in Singapore would have to wait before a bed in a nursing home would be available.

http://themiddleground.sg/2016/10/13...g-homes-spore/

old man.jpg
 
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Industrial spaces hit by O&M players ditching Singapore for Malaysia

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More vacant spaces ranging 1,500 sqft and below set to rise.

The industrial sector continued to face strong headwinds in most industries and sectors, putting further pressure on both industrial space rentals and prices in Q3 2016.

Knight Frank (KF) forecasts that average island-wide rents could decline by -6.0% to -8.0% year-on-year (y-o-y) in Q4 2016 and adding up to more hassle is an expected next wave of consolidation among smaller businesses in the Pioneer-Tuas industrial cluster.

According to KF, relocation of larger oil and gas services companies will impact smaller supporting companies in the Pioneer-Tuas industrial cluster •

"Smaller companies offering supporting services in the oil and gas industry and ecosystem are expected to face stronger headwinds in the coming two to three quarters, as oil prices continue to fall and with large foreign oil and gas services companies McDermott and Subsea 7 relocating most of their operations out of Singapore to Kuala Lumpur, Malaysia," said KF in a report.

The companies had made the decisions earlier this year, with McDermott citing proximity to regional clients as the motivation for the move, while Subsea 7 is purported to have decided so for cost reasons.

KF believes that consolidation of small businesses will lead to further weakness in the demand for space in the Pioneer-Tuas industrial cluster. In particular, vacancy of spaces of 1,500 sq ft or less, which meet the needs of such smaller businesses, is expected to rise.

http://sbr.com.sg/commercial-propert...apore-malaysia
 
Economists slash Singapore GDP forecasts for 2016, 2017 after disappointing Q3 data

--------------------------------------------------------------------------------

The Singapore economy grew a meagre 0.6 per cent in the July to September period compared with a year ago, according to advance estimates from the Ministry of Trade and Industry (MTI).

This was sharply lower than economists' estimates of 1.7 per cent growth.

Compared to the previous quarter, the economy contracted by 4.1 per cent, the biggest slump since 2012.

This is what some economists are saying about the lacklustre numbers.

DBS GROUP RESEARCH:

"GDP fell by 4.1 per cent quarter-on-quarter in the third quarter, far more sharply than anticipated. Additionally, second quarter growth was revised down. With these outcomes, (third quarter growth) now stands at 0.6 per cent, the lowest since the global financial crisis of 2008/2009.

For the year as a whole, DBS had been expecting growth of 1.5 per cent. That will be revised lower in coming days, probably to about 1 per cent.

If there is any good news to be gleaned, it is that much of the drop in output this year has been oil-related and crude prices appear to have stabilised... Hence a similar hit to GDP growth is not expected next year."

OCBC ECONOMIST SELENA LING:

"A downgrade in our full-year growth forecast is inevitable due to the third quarter disappointment and the downward revision of first half growth estimates. Given the flat-lining of services growth momentum, we revise our full-year GDP growth forecast for 2016 to 1.3 per cent year-on-year and 2017 to 1.5 per cent, down from 1.9 per cent and 2 per cent previously."

ANZ ECONOMIST NG WEIWEN:

"The last time Singapore's service sector registered three straight quarters of quarter on-quarter contraction was during the global financial crisis in 2008/2009, reinforcing our view that tough times are here to stay for Singapore, with growth running the risk of remaining stuck in low gear."

http://www.straitstimes.com/business...inting-q3-data

SGD drop from 1.36 to 1.39 the last few days ...
 
Economists slash Singapore GDP forecasts for 2016, 2017 after disappointing Q3 data

--------------------------------------------------------------------------------

The Singapore economy grew a meagre 0.6 per cent in the July to September period compared with a year ago, according to advance estimates from the Ministry of Trade and Industry (MTI).

This was sharply lower than economists' estimates of 1.7 per cent growth.

Compared to the previous quarter, the economy contracted by 4.1 per cent, the biggest slump since 2012.

This is what some economists are saying about the lacklustre numbers.

DBS GROUP RESEARCH:

"GDP fell by 4.1 per cent quarter-on-quarter in the third quarter, far more sharply than anticipated. Additionally, second quarter growth was revised down. With these outcomes, (third quarter growth) now stands at 0.6 per cent, the lowest since the global financial crisis of 2008/2009.

For the year as a whole, DBS had been expecting growth of 1.5 per cent. That will be revised lower in coming days, probably to about 1 per cent.

If there is any good news to be gleaned, it is that much of the drop in output this year has been oil-related and crude prices appear to have stabilised... Hence a similar hit to GDP growth is not expected next year."

OCBC ECONOMIST SELENA LING:

"A downgrade in our full-year growth forecast is inevitable due to the third quarter disappointment and the downward revision of first half growth estimates. Given the flat-lining of services growth momentum, we revise our full-year GDP growth forecast for 2016 to 1.3 per cent year-on-year and 2017 to 1.5 per cent, down from 1.9 per cent and 2 per cent previously."

ANZ ECONOMIST NG WEIWEN:

"The last time Singapore's service sector registered three straight quarters of quarter on-quarter contraction was during the global financial crisis in 2008/2009, reinforcing our view that tough times are here to stay for Singapore, with growth running the risk of remaining stuck in low gear."

http://www.straitstimes.com/business...inting-q3-data

SGD drop from 1.36 to 1.39 the last few days ...

Seems like all these negative reports on SG is giving some people multiple orgasms.
Wonder how relevant are reports and how will they affect the property prices in JB?
 
Seems like all these negative reports on SG is giving some people multiple orgasms.
Wonder how relevant are reports and how will they affect the property prices in JB?

Somebody takbohleh tahan impotent already. .. need to go Geylang sex orgy to get some orgasm . :D
We are only doing some cut n paste to tell some facts that will affect economic of both countries , what got to do with orgasm?
 
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Somebody takbohleh tahan impotent already. .. need to go Geylang sex orgy to get some orgasm . :D
We are only doing some cut n paste to tell some facts that will affect economic of both countries , what got to do with orgasm?

Cannot go Geylang. Go buy soap. Much safer and cheaper in hard times.:D
Singapore economy bad means JB property prices will be affected. Fewer Singaporeans has money to buy properties in JB. Property loans in Singapore also lock up. More people will come to JB to buy cheaper goods and retire to stretch their dollar. Economy and property prices is inter connected in both countries.
A rich neighbour is always good but then if the neighbour is poor, then have to be realistic.
 
Now I know why people complain HDB getting smaller and smaller and why Josephine Teo trying to justify sex in small space.
Every unit built means lose money, so solutions is to build smaller units and increase the plot ratio, hence the high density. Then they increase car park charges as more people live in them. The excuse is they lose S$100m every year. Hats off to these people. Sibeh lihai.
Reminds me of a pasar malam sugar cane seller. After squeezed until no more juice, he dip it in water and squeeze again.

----------------------------------------------------------------------------------------------------------------
SINGAPORE: The Housing and Development Board (HDB) incurred a deficit of S$1.64 billion in the last financial year, down from S$2.02 billion the previous year, as it scaled back on the building of new flats.

According to its annual report released on Thursday (Oct 13), HDB had a deficit of S$2.25 billion due to “Housing Activities”, offset by a surplus of S$613 million from “Other Activities”, making it a net deficit of S$1.64 billion before Government grants.

HDB incurs a deficit every year due to its home ownership programmes, and the deficit is fully covered by a grant from the Ministry of Finance.

The bulk of last year’s deficit came from HDB's home ownership segment, which recorded a deficit of S$1.18 billion, a decline of 32.7 per cent from S$1.75 billion in FY2014/15. The deficit comprises the gross loss on the sale of flats, disbursement of CPF housing grants and the expected loss for flats that are currently under development.

The lower deficit was due to fewer contracts being awarded for the development of flats last year, HDB noted in its report.
“With the overall public housing market showing continued signs of stabilising, HDB has gradually tapered off the supply of new flats since 2014,” it said.

More than 15,000 new flats were launched in the last financial year, down from the 19,800 flats offered the previous year. A total of 2,206 rental units were also built, bringing the stock for rental flats to 55,131 units at the end of FY2015/16.

http://www.channelnewsasia.com/news...in-last-financial-year/3202294.html?cid=FBcna

http://www.channelnewsasia.com/news/singapore/public-car-park-charges/2917842.html
 
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Better don't trust all these reports and drive down to see for yourself on the grounds. I don't believe Sunway 's developments when my kakis mentioned about it over lunch 2 weeks ago. When I drop by I was shocked by the kind of quality they can offer. Same goes to other developments. Even Kulai is booming. My business associates is urging me to buy some shophouses at a junction which leads into ulu Sengkang ( near IOI mart ) and long time ago I remembered its just kampungs.


Seems like all these negative reports on SG is giving some people multiple orgasms.
Wonder how relevant are reports and how will they affect the property prices in JB?
 
Better don't trust all these reports and drive down to see for yourself on the grounds. I don't believe Sunway 's developments when my kakis mentioned about it over lunch 2 weeks ago. When I drop by I was shocked by the kind of quality they can offer. Same goes to other developments. Even Kulai is booming. My business associates is urging me to buy some shophouses at a junction which leads into ulu Sengkang ( near IOI mart ) and long time ago I remembered its just kampungs.

Sunway name sells byitself. Moreso, this Iskandar is wholly handled by Tan Sri's daughter. Sure have to succeed.

Sunway Iskandar.jpg
 
Now I know why people complain HDB getting smaller and smaller and why Josephine Teo trying to justify sex in small space.
Every unit built means lose money, so solutions is to build smaller units and increase the plot ratio, hence the high density. Then they increase car park charges as more people live in them. The excuse is they lose S$100m every year. Hats off to these people. Sibeh lihai.
Reminds me of a pasar malam sugar cane seller. After squeezed until no more juice, he dip it in water and squeeze again.

Why HDB still losing money? Land not state land meh? Jb low cost house much much cheaper almost cannot cover material cost, cant make money vry sensible....HDB so expensive, those brick and mortar can cover many times liao, why still cant make money? Very fishy, where are the money gone to...land? Gov?
 
Why HDB still losing money? Land not state land meh? Jb low cost house much much cheaper almost cannot cover material cost, cant make money vry sensible....HDB so expensive, those brick and mortar can cover many times liao, why still cant make money? Very fishy, where are the money gone to...land? Gov?

Lose money...on paper only perhaps?
 
Somebody takbohleh tahan impotent already. .. need to go Geylang sex orgy to get some orgasm . :D
We are only doing some cut n paste to tell some facts that will affect economic of both countries , what got to do with orgasm?

Some people are just so literal that they don't even recognise when a figure of speech is applied. And worse, other dummy simply so happy to jump in and start talking about geylang and soap. Now I know these guys' literacy standard.
And btw, soap is very last century, only old uncle remember using.
 
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