GMS Selling Home To Contest Election 吴明盛破釜沉舟背水一战

[RonRon]

GMS what is ur intention of publicizing to the whole world that you are having a problem and need to sell ur flat to raise fund? To gain sympathy votes or simply need some attentions or some warm consolation from the cyber world? If you want to become a MP to serve the people, you should be a solutions to the community and not burden everyone with your problems. Let me tell you, the impact will be greater if you quietly sell your flat and then announce it in a rally, the people will respect you more.
Now i will be watching if you really will sell your flat or just putting up a wayang show to gain some cheap publicity from the internet..Do not behave like those wayang MP in Taiwan..it dosen't work in Singapore as long as under my watch

 

[yellow_people]

I believe GMS is not fighting to beat the PAP but to beat other opposition parties in order to qualify for that second class NCMP seat. If he can't even win an NCMP seat, he may well do a Steve Chia.

If the PAP does indeed find him a threat, he will be hammered for his hypocrisy for profiting from the sale of his HDB flat (since he is making the price of HDB flats an issue) to fulfill his personal political ambition, as much as he, like most politicians, would like to couch their personal political ambitions as the ultimate self-sacrifice for the country and their fellow citizens. He will also be hammered for his degrading comments about minorities if the PAP does indeed find him a threat.

GMS is a blow-hard fame-whore. I know ptader and others from the old forum used to label him another Harsban Singh but I think it is an insult to Harsban Singh. At least the bayi only made a fool of himself during elections. GMS does it 365 days a year! This knuckle-head is instead the Ris Low of politics.

There are more sensible ways to solicit donations. Coming to sammyboy through an inept handler to announce the sale of your home and asking for donations is not one of them. Leetahbar called this right when he offered in jest to loan him his "techno-colored purple sexmobile".

The only threat GMS poses the PAP is to the PAP's Internet Brigade as he is about to put the lot of them out of work. He has single-handled brought the opposition politics into disrupt and a joke onto itself. With people like GMS around who needs the PAP IB?

 

[aurvandil]

If you remember what happened in Eunos and Cheng San GRC, Goh Meng Seng is only doing what is prudent. The PAP has a track record of persecuting and bankrupting sucessful opposition politicians. There is no reason why he should be keeping his assets in Singapore, especially since he has a sucessful business in HK/China.

Moreover HDB prices are at a record high and it is a given that prices will fall after the elections when Mr Mah's 12,000 to 13,000 flats come online.

I would say therefore that this is a shrewd move that protects both his assets and cashes out on an overvalued HDB flat.

 

[longbow]

Ah sorry for not being clear. GMS has always been proposing some scheme where the Gov will sell new flats for below cost and for the land to be given FOC.
Resale prices have a direct link to prices of new flats. Note that if they start selling new 4 rm sengkang flats at $100K, do you think the resale flats there will be able to still sell for $380K as is the case now? In fact based on GMS's policy, GMS would not be able to profit from the future sale of his flat.

I am not saying that prop prices will plunge if opposition wins. Instead what i am saying is that property prices will collapse is GMS's housing policy is implemented. It is his policy that is the problem.

No lah, i give much more credit to our civil service and garbage will not pile up.

You seem to believe PAP saying that property prices will plunge just because opposition wins. 20 years ago PAP said rubbish heaps would pile up 2 storeys high if opposition wins.

Anyway, GMS is talking about new flat pricing policy, not resale market. Don't be confused by smokescreens and decoys.

 

[longbow]

doubt if the majority of Singaporeans who own properties will agree with you - that prices must fall.

They might go for a slower but more sustainable price appreciation - mean slower growth from current price levels but few will want they assets to fall in value.

Do not understand why the opposition politicians cannot see such a simple fact.

Prices must fall. A painful step, but necessary.
medicine may be bad, but it must be taken.

Anyone to be blamed it must be the PAP.

 

[Zombie]

I would say therefore that this is a shrewd move that protects both his assets and cashes out on an overvalued HDB flat.

sell hdb and spend it on election campaign = protecting the assets ???

more like betting lah

 

[Zombie]

In fact based on GMS's policy, GMS would not be able to profit from the future sale of his flat.

GMS has shown everyone his 死穴 ...

 

[Sideswipe]

There is absolute no argument that you need to win the majority of the Chinese votes in order to win any elections in Singapore. The reality of course is that you will never, ever be able to win 100% of the Chinese votes.

an opposition in a Chinese-based party can, even with the current unhappiness with the PAP and based on my overly generous estimate, acquire only 60-65% (max) of the Chinese votes. That means that the PAP will get only 35-40% of the Chinese votes. (Conceivable? With RC people profiting from the sale of funeral blankets and even "opposition" candidates voting for the PAP, does anyone really think that the PAP will only get 35-40% of the Chinese votes?)

That works out to 45-48% in real terms. To cross the 50% line, you will need that 2-5% which will have to come from the minorities. As much as you may not want to acknowledge it or as groupthink will have it, the votes of the minorities do help determine who wins an election especially when it is not a one-sided affair.

yes, our oppositions need the minorities support to win elections and they will be the decisive factor.
was saying that they are losing by a clear margin in the Chinese support. That explain the dismal results - 30%+ votes.

 

[Goh Meng Seng]

Dear Longbow,

You are only half right.

The link between prices of new flats and resale flats is "ARTIFICIALLY" done by HDB/PAP. The link is ONE WAY, whereby prices of new flats are pegged by HDB/PAP to the resale prices. This is link is NOT vice verse.

There is no DIRECT link of resale flat prices to price of new flats. What I am doing is to fight for the DE-LINK of prices of new HDB flats to the resale market. How could such DE-LINK affect the resale market prices? The impact on resale market prices, if any, would be very minimal.

Goh Meng Seng

Ah sorry for not being clear. GMS has always been proposing some scheme where the Gov will sell new flats for below cost and for the land to be given FOC.
Resale prices have a direct link to prices of new flats. Note that if they start selling new 4 rm sengkang flats at $100K, do you think the resale flats there will be able to still sell for $380K as is the case now? In fact based on GMS's policy, GMS would not be able to profit from the future sale of his flat.

I am not saying that prop prices will plunge if opposition wins. Instead what i am saying is that property prices will collapse is GMS's housing policy is implemented. It is his policy that is the problem.

No lah, i give much more credit to our civil service and garbage will not pile up.

 

[Rogue Trader]

How about sale of limited edition signed newspapers/booklet? If you offered each for sale $100 each would you still need to obtain NRIC (1000 copies x $100= $100K)? After all there is a value to limited edition signed newsletters with photo and the free market determines the price. You could even have internet site publicizing such a booklet and how many sold.

Could even include a special lithographed Chinese caligraphy by GMS specifying luck, fortune.

This is a good idea actually. i want to buy the nsp newsletter for $100. many friends want to read it too. so may be i will buy more than 1 copy.

 

[lockeliberal]

Dear Chau

Nice piece of analysis and in total agreement. I can't speak for the Indians but Malay wise the first tier of potential leaders have already been co opted into the PAP led or PAP dominated organizations or have become PAP MPs the rest just stay out :_)). Someone well versed once after GE 2006 suggested the second tier below the PAP radar.




Locke

 

[longbow]

"There is no DIRECT link of resale flat prices to price of new flats."

GMS, guess we agree to disagree. In my POV, resale and new flat prices are linked. For new flat buyers, the difference between new and resale is the price of convenience. The price to pay to get the flat now vs waiting for 3 years. This premium for convenience has been skewed by influx of PRs/new immigrants who cannot buy new flats and thus push up the premium.

 

[Ramseth]

"There is no DIRECT link of resale flat prices to price of new flats."

GMS, guess we agree to disagree. In my POV, resale and new flat prices are linked. For new flat buyers, the difference between new and resale is the price of convenience. The price to pay to get the flat now vs waiting for 3 years. This premium for convenience has been skewed by influx of PRs/new immigrants who cannot buy new flats and thus push up the premium.

Last evening, I had dinner with GMS and a property agent friend. Of course politics and property prices came onto dinner table chat. Singapore is already a developed and built-up city. The condos and landeds made up about 15%. Of the 85% HDB, about 80% are already in the resale market. HDB maintains a supply of about 5% injection of new flats every year.

How can 5% with restricted conditions affect 80% open market?

Simple example. There're 85 apples. 5 is for sale at $1 (cost price $0.50) each to citizens who haven't tasted apples before. 80 is for open market trading for citizens who've tasted apples before and all permanent residents. Because the subsidized apples are so few and subject to conditions, most who like to taste bigger or different variety apples have to buy in the open market and prices go up to $3 per apple.

Now, the marketing board in charge of supplying new apples at subsidised prices decided to increase their price too, say $2 per apple. Now people who're supposed to be subsidized surely complain that the marketing board instead of subsidising is also joining the profiteering.

Now, would open price of $3 fall just because the marketing board is pressured into lowering its price back to $1 (which is still profitable)? Bearing in mind, 80% of supply is in open market and the marketing board provides only 5%, and not everyone is eligible to buy from it.

 

[Zombie]

How can 5% with restricted conditions affect 80% open market?

this 80% only happens at current pricing situation...

and you are making a very hugh assumption that it is grossly price inelastic..

 

[rodent2005]

吴明盛 is a failure in life! After so many yr of hard works as a businessman, there were no progress in his career & financial..he will become a laughing stocks for not being able to manage his own life and want to criticise our born leader Mr MBT.. Singaporean do not want a loser to lead their life!
He can't even run and want to learn to fly

If this is the case, then PAP is a total failure and bigggest loser (literally) for losing billions of Singapore's money in record time.

Even with this track record, PAP goes to other people's country and teach them how to run their countries.

 

[Isayso]

I have to thank all my friends and supporters who have shown concerns about me selling my flat to raise funds for the war chest. I am touched by all of you who have tried to dissuade me from selling my flat to raise the funds. I appreciate your genuine care and support. Some of you have even offered help and donations. Truly appreciate that.

I am in a different position now, as compared to last elections GE2006. Initially I only wish to help NSP out. But Sebastian, the President of NSP has selflessly committed his time, effort and money to the cause. His actions have convinced me the necessity to put in more effort in forming the Tampines team and taking up the leadership post of Secretary General. But as the SG of NSP, I could not just ride on Sebastian's contribution and willingness to contribute to the war chest for the WHOLE party. Thus, I decided to do my part in putting in my little contribution as well. The heavy responsibility naturally falls on the leaders of the party. Since I have decided to take up the position, I would have to do my part in contributing to the overall GE effort, financially.

As explained in my reply to Mr. Tan Kin Lian posted on his blog, selling my flat serves me well in various ways. As for people who doubted my convictions because of my mention of joining my family in Hong Kong if I lose, I have this to say: it is a long well known fact that I have made my stand clear back in 1997 in my post-election commentary that I have only two choices: to stay and try to fight for a change in the political system or just leave this country altogether, all for the sake of my children and future generations. I have no regrets. At the very least, even if I failed to win and initiate the necessary political change, I could answer to my children that I have done my best.

10 years is a long time and I must be fair to my family, especially my wife and daughter. I am the son, husband and father. I will need to take care of everybody's interests here. I have given 10 years of my life, as well as my family life to "public service" and if it amounts to nothing substantial, I think it is time to move on.

Last but not least, I appreciate the kind offer of donations but technically, my party and I could not accept anonymous donations. The political donation act states that the party cannot accept more than a total of $5K anonymous donations in a year. Any excess of that will be confiscated by the government. Thus, we need to work hard on selling our newspaper every week, just to pay rent and other miscellaneous expenses. Even with that, each and every CEC members have been contributing to the party consistently over the months and years.

We could only accept donations with name and NRIC numbers stated next to the amount. I think at this juncture, many Singaporeans would not want to get their names and NRIC registered to donations to an opposition party and thus, I think it would be more practical that I sort it out myself. I am truly touched that some of you out there whom I hardly know, have messaged me privately to offer your help in canvassing and convincing people to donate with their names and NRIC registered. I really appreciate that. On behalf of NSP, I thank you in advanced for your courageous gestures.

As time ticking by, the final battle is very near. As I have spoken to many people on the ground, the battle is not about us. It is about our future generations. What we decide now will affect our future generations. If you support MBT and PAP now, you are basically supporting the HDB policy direction of getting our children, grandchildren and future generations to sell their home for their retirement. I am just selling my home to fight for our future generations. However, I need people to send a clear signal to PAP that we do not want such policy whereby the CHEAPEST housing in Singapore needs a 30 years mortgage to pay for. This is totally absurd.

Once again, I thank my friends and supporters. Don't worry about me in selling my flat. I am a survivor and could well earn back whatever money I used in this battle. Money spent could well be earned but opportunity to make the strongest political point ever could not be lost.

Goh Meng Seng

Thanks GMS for stepping forward to clear the air so quickly. I'm ashamed by your humility and the sacrifices you've made so far for your familly. For the future generation in Singapore, I wish you all the very best in the coming GE.

 

[Ramseth]

How can 5% with restricted conditions affect 80% open market?

Simple example. There're 85 apples. 5 is for sale at $1 (cost price $0.50) each to citizens who haven't tasted apples before. 80 is for open market trading for citizens who've tasted apples before and all permanent residents. Because the subsidized apples are so few and subject to conditions, most who like to taste bigger or different variety apples have to buy in the open market and prices go up to $3 per apple.

Now, the marketing board in charge of supplying new apples at subsidised prices decided to increase their price too, say $2 per apple. Now people who're supposed to be subsidized surely complain that the marketing board instead of subsidising is also joining the profiteering.

Now, would open price of $3 fall just because the marketing board is pressured into lowering its price back to $1 (which is still profitable)? Bearing in mind, 80% of supply is in open market and the marketing board provides only 5%, and not everyone is eligible to buy from it.

this 80% only happens at current pricing situation...

and you are making a very hugh assumption that it is grossly price inelastic..

I reiterate my earlier example. Reperuse carefully. There's no assumption. The resale market will always have 80% unless HDB suddenly demolishes half or even a quarter or even tenth for redevelopment. That in practice is categorically impossible. Resale market flats are flats that are already there with occupiers having fulfilled occupany requirements.

New flats are realised onto market with buying conditions so that not everybody can come and buy again. However, after a few years, occupancy requirements are fulfilled and they become resaleable flats too, replacing that older flats being phased out. In that way, 80:5 is always maintained as an ongoing ratio, as 15% is always reserved for private.

 

[scroobal]

Thanks for doing this for GMS whether he asked you or not. Its obvious that your experience in the campaign trail is proving useful.

New flats are realised onto market with buying conditions so that not everybody can come and buy again. However, after a few years, occupancy requirements are fulfilled and they become resaleable flats too, replacing that older flats being phased out. In that way, 80:5 is always maintained as an ongoing ratio, as 15% is always reserved for private.

 

[Zombie]

There's no assumption.

the reason why people are so concern about hdb prices is because they are sensitive to it...

open market shares are determined by sellers as well as buyers... you think that buyers will still go around happily buying to continuously form the 80% market share?... if yes, you are already making the assumption.

and all you are relying is your restrictions.. with the checking of new PRs/FTs, new local buyers almost all taking the queue to buy from hdb (to save 6 digits figure), where do you find enough buyers to make up the 80% market shares?

when sellers outweigh buyers in the open market, what do you get?

 

[Ramseth]

Chinese readers go get Shin Min Daily News this evening.

http://news.omy.sg/News/Local%2BNews/Story/OMYStory201004201514-145206.html