Meeting at Speaker's Corner 18 Oct, 6-7 pm

[Ah Hai]

The Disadvantages of an Elite Education

Sunday, December 21, 2008
The Disadvantages of an Elite Education
Contributed by Ho Cheow Seng

Our best universities have forgotten that the reason they exist is to make minds, not careers.
By William Deresiewicz
Posted by Tan Kin Lian at 6:40 AM
1 comments:

Wayangnologist said...

Our best universities GRADUATES have forgotten that the reason they are elected is to make a difference to the lives of the people they serve, NOT TO THEIR POLITICAL CAREERS.
11:27 AM

 

[Ah Hai]

Barclay CEO apologies

Sunday, December 21, 2008
Barclay CEO apologies

http://news.bbc.co.uk/2/hi/business/7793035.stm

Mr Varley also told the BBC that the banking industry was going through what he called a "public relations crisis" and must apologise for what went wrong. "We have to have a banking industry in which consumers have trust and in some cases that trust has broken down," he said.

"If I ask myself, 'Do I feel the industry should be self-confident about recreating that trust through time?' I do feel that, but it starts by saying sorry. "It starts by admitting things went wrong."

He said he hoped his own bank was one of those in which customers still had trust. But he went on: "If you look at the industry as a whole, if I speak as a member of the industry rather than as chief executive of Barclays, I absolutely have to say we should share our portion of responsibility."

Our correspondent said Mr Varley was not the first senior banker to admit failings. In November, Royal Bank of Scotland chairman Sir Tom McKillop said he was "profoundly sorry" for his company's financial difficulties.
Posted by Tan Kin Lian at 6:59 AM
1 comments:

Wayangnologist said...

AH!

They will offer apologies!


BUT NOT REFUNDS.
11:53 AM

 

[Ah Hai]

FISCA Survey Results (2)

Sunday, December 21, 2008
FISCA Survey Results (2)
20 people responded to the survey.

> The expressed interest in the following services:
> Educate members on financial products through website 100.0%
> Advice members on mis-selling and unethical products 100.0%
> Recommend suitable financial products 84.2%
> Advice members on insurance claims 73.7%
> Hold educational talks (at a modest charge) 68.4%
> Advice members on service contracts, e.g. telcos 63.2%
> Provide advice through a hotline 57.9%
Posted by Tan Kin Lian at 9:06 AM

 

[Ah Hai]

FISCA - the proposed approach

Sunday, December 21, 2008
FISCA - the proposed approach
65% of respondents like FISCA to get most of its funding from its members, to remain independent and act in the interest of consumers. 75% prefer to avoid getting advertisement and sponsorship from financial institutions. 20% welcome funding from Government for general expenses, and 35% for special projects.

90% feel that FISCA should encourage members to spend time to learn about financial matters.
56% like the subscription to be $36 per year; the remainder are willing to pay a higher subscription.

Proposed approach
We will set up FISCA with an annual subscription of $36.

Members are encouraged to log in each week and read the newsletter, educational and research materials. and assessment test.

Additional services will be provided to members at a modest fee:

a) Handle complaint on mis-selling
b) Handle complaints on insurance claims
c) Attend educational talk
d) Simple financial planning advice
e) Buying of recommended financial products

FISCA will encourage members to pay a modest fee for advice and service. This will save them several thousand dollars in paying the hidden charges embedded in financial products, such as life insurance and structured products. More importantly, members can avoid losing their capital in risky products that are not properly disclosed to them.

An important task for FISCA members is to spend time and be educated about financial matters and to make the correct decisions. FISCA will help members to achieve this goal by providing the relevant materials for members. FISCA will use as much volunteers as possible, but some full time staff have to be engaged for the research and administration.

It is important that FISCA should have funds to carry out their work. I hope that more members will come forward and be willing to pay a subscription to make it possible for FISCA to be effective in its work. Do not expect it for free.
Posted by Tan Kin Lian at 9:12 AM
1 comments:

Anonymous said...

It is important that the management staff or committee members of the association does not work with any financial institutions in order to remain neutral.

 

[Ah Hai]

Surveys

Sunday, December 21, 2008 Are you willing to join FISCA (financial services consumer association) at an anual subscription of $36 (see blog for more details)

Surveys
Participate in the surveys shown at the top of the right panel.
Posted by Tan Kin Lian at 7:25 PM

http://tankinlian.blogspot.com/2008/12/surveys_21.html
1 comments:

singaporeshortstories.blogspot.com said...

Hi Mr Tan,

How is the $36 amount derived?

Thanks!
11:58 AM

 

[Ah Hai]

Seasons Greetings and best wishes for 2009

Monday, December 22, 2008
Seasons Greetings and best wishes for 2009
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[Ah Hai]

Join FISCA for $36

Monday, December 22, 2008
Join FISCA for $36
82 people replied to the poll. 65% are willing to join FISCA for an annual subscription of $36. Some people think that this rate is too low and are willing to contribute up to $60 or $120 to get better services.

35% do not wish to join FISCA. Among them are the insurance agents and relationship managers who feel that FISCA may affect the way that they do business now. The other respondents prefer to have the services for free, if possible.

I wish to encourage Singaporeans to be willing to pay a modest fee for service and advice. By spending some money, you can save a lot of money that is taken away through hidden charges (e.g. $2,000 or more on a typical financial contract) or can cause you to lose your entire principle (e.g. high risk credit linked notes).

Be willing to invest time and money to be educated. You can be much better off!
Posted by Tan Kin Lian at 8:09 AM

 

[Ah Hai]

Re: Join FISCA for $36

8 Comments

Anonymous Anonymous said...

Yes, $36 is peanuts considering the wealth of information you can get from the association. You will also save a lot of money from mistakes and wrong products that you might have bought from the greedy insurance agents or RMs. It might serve as the first line of defence for many against the unscrupulous agents.
Insurance agents and RMs may not join and will discourage you from joining because it is right HERE that their misdeeds and sinister intentions and incompetence will be uncovered and for some their career may be in jeopardy .
The review of your policies bought many years ago may uncover the hidden secret skeletons, the dishonesty of the insurance agents. It will be their undoing. Their sins have caught up with them , so to speak.

December 22, 2008 8:30 AM
Anonymous Anonymous said...

Insurance agents are afraid of this association and they are trying to sabo the formation. They know the association will expose their mis-selling and dishonesty and lack of qualification. Worst, agents who mis-sold and misrepresented their clients in the past are shivering with fear that their dishonesty will not be revealed by the review service
that the association will be providing. It is pay back time for the insurance agents.

December 22, 2008 9:01 AM
Anonymous Anonymous said...

Mr. Tan,
Please tell me how join FISCA and payment method.
Thanks.
Best Regards
Wong

December 22, 2008 10:50 AM
Anonymous Anonymous said...

In order to reach out and help more people, need to do some PR activities like newspaper ads to create public awareness. Like SIAS when it was setup

December 22, 2008 12:56 PM
Anonymous Anonymous said...

Go man, go for the association. it is supposed to protect your interest from the unethical insurance agents and RMs..
Please, $36 is a paltry sum but you have much to gain.

December 22, 2008 1:31 PM
Anonymous Anonymous said...

Mr Tan, thank you for your precious time to make this enlightened proposal. Merry Christmas and a happy New Year. :-)

December 22, 2008 1:33 PM
Anonymous Anonymous said...

The pro-tem Committee may want to consider and re-write [fee(s) and other due(s)] as [The entrance fees and subscriptions shall be determined by the General Meeting on recommendation from the Committee from time to time.] Also, I cannot rule out the possibilties, which the proposed Society may fall under Normal Registration Route and shall takes average 2-months to process. See www.mha.gov.sg/ros

December 22, 2008 1:41 PM
Anonymous Ed said...

If there's a strong union looking after us workers, I'll gladly pay couple of hundred dollars to look after our welfare. Singapore's supposed to have 44 hours workweeks for its worker? Utter crap! I work 100+ hours workweeks!

Likewise, $36 on FISCA will be money well-spent for a good cause!!!

Come on, people support it! Don't wait until something like this to happen again before we regret.

December 22, 2008 6:03 PM

 

[Ah Hai]

FISCA - the steps ahead

Monday, December 22, 2008
FISCA - the steps ahead
The protem committee has to finalise the work plan for the association and to submit the constitution for registration as a society. This will take one or two months to be completed.

A website will be set up during the next few weeks. You can get more information from the website when it is ready.
Posted by Tan Kin Lian at 4:04 PM :oIo:

 

[Ah Hai]

Re: FISCA - the steps ahead

Monday, December 22, 2008
Thought for the Day - Democracy
Contributed by Ho Cheow Seng

My notion of democracy is that under it the weakest shall have the same opportunities as the strongest...no country in the world today shows any but patronizing regard for the weak... Western democracy, as it functions today, is diluted fascism...true democracy cannot be worked by twenty men sitting at the center. It has to be worked from below, by the people of every village." : Gandhi
Posted by Tan Kin Lian at 6:43 PM

 

[Ah Hai]

Re: Seasons Greetings and best wishes for 2009

Monday, December 22, 2008
Seasons Greetings and best wishes for 2009
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6 Comments


Blogger Hang Lian said...

Dear Mr. Tan,

Thank you very much for your time and effort.

Wishing you and your family a Merry Christmas and Happy New Year 2009.

December 22, 2008 2:05 AM
Anonymous Anonymous said...

No FD, NO $, No Joy, No hope...

December 22, 2008 8:01 AM
Anonymous Anonymous said...

Wishing year 2009 will be better for everybody.

Jasmin

December 22, 2008 8:09 AM
Anonymous Anonymous said...

Hi Mr Tan,

Merry Christmas and A Happy New Year 2009!

I will join FSCA.

Best regards
Francis Lee

December 22, 2008 9:08 AM
Anonymous Anonymous said...

Thank you for your wise advise and guidance throughout this difficult year.

I wish you a Merry Christmas and a Happy New Year.

December 22, 2008 9:15 AM
Anonymous Wilson said...

Merry Christmas to you Mr. Tan KL and your family, as well as to all who visited your blog.

December 22, 2008 1:11 PM

 

[Ah Hai]

70% willing to join FISCA

Monday, December 22, 2008
70% willing to join FISCA
140 people participated in the poll. 70% are willing to join FISCA and pay an annual subscription of $36. The remaining 30% do not wish to join FISCA. I consider that there is good support for FISCA.
Posted by Tan Kin Lian at 9:05 PM

 

[Ah Hai]

Survey - Complaint to Financial Institution

Tuesday, December 23, 2008
Survey - Complaint to Financial Institution
If you have made a complaint and received a decision from the financial institution, please participate in this survey:



http://www.surveymonkey.com/s.aspx?sm=h0vhpMqXdd3WyD1uxqz7Jw_3d_3d
Posted by Tan Kin Lian at 3:31 AM

 

[Ah Hai]

Survey - complaint to FIDREC

Tuesday, December 23, 2008
Survey - complaint to FIDREC
If you have made a complaint to FIDREC and have received their reply, please participate in this survey:

http://www.surveymonkey.com/s.aspx?sm=lVHW2L6lkBoIvH23Z_2bk_2fcQ_3d_3d
Posted by Tan Kin Lian at 3:38 AM

 

[Ah Hai]

Survey - choosing a place to live, closeness to facilitie

Tuesday, December 23, 2008
Survey - choosing a place to live, closeness to facilities
If you have to choose a place to live, which facilities and amenities are most important to you, to be within walking distance or a short drive?

Take part in this survey:
http://www.surveymonkey.com/s.aspx?sm=oUSMVBqRTOeg4jVdJJ6qfA_3d_3d
Posted by Tan Kin Lian at 8:40 AM

 

[Ah Hai]

Quote - President Elect Obama

Tuesday, December 23, 2008
Quote - President Elect Obama
Two years from now, I want the American people to be able to say,

"Government's not perfect; there are some things Obama does that get on my nerves.
But you know what?

I feel like the government's working for me.
I feel like it's accountable.
I feel like it's transparent.
I feel that I am well informed about what government actions are being taken.

I feel that this is a President and an Administration that admits when it makes mistakes and adapts itself to new information, that believes in making decisions based on facts and on science as opposed to what is politically expedient."

Those are some of the intangibles that I hope people two years from now can claim," -
Barack Obama, president-elect.

http://en.wikipedia.org/wiki/Barack
http://andrewsullivan.theatlantic.com/the_daily_dish/2008/12/the-year-of-oba.html
http://www.time.com/time/world/article/0,8599,1865069,00.html
Posted by Tan Kin Lian at 9:45 AM

 

[Ah Hai]

Survey - choosing a place to live, closeness to facilities

Tuesday, December 23, 2008
Survey - choosing a place to live, closeness to facilities
If you have to choose a place to live, which facilities and amenities are most important to you, to be within walking distance or a short drive?

Take part in this survey:
http://www.surveymonkey.com/s.aspx?sm=oUSMVBqRTOeg4jVdJJ6qfA_3d_3d
Posted by Tan Kin Lian at 8:40 AM

 

[Ah Hai]

esults - Where to live (1)

Wednesday, December 24, 2008
Results - Where to live (1)
Here is a summary of 52 replies to this survey. What facilities do you like to see within 0.5% of the place your live:

MRT 86%
Supermarket 71%
Food court/restaurant 67%
Wet market 54%
Shopping mall 46%
Bus interchange 40%
Medical center/ hospital 29%
Good primary school 27%
Good secondary school 21%
Sports center 19%
Community center 14%
HDB town center 12%
Any school 10%
Total (including repeats): 496%

I will use the results of this survey to compute the AQI (amenities quality index) for a housing project (i.e. condominium or neighbourhood). The index has the value of 0.0 to 9.9. An high index (9.9) indicates a place with good facilities within walking distance.
Posted by Tan Kin Lian at 4:50 AM

 

[Ah Hai]

Do we need a new property portal?

Wednesday, December 24, 2008
Do we need a new property portal?
A new property portal is being developed to provide the following information. Is this useful to property owners, buyers and tenants? Take part in this survey:

http://www.surveymonkey.com/s.aspx?sm=_2blkqCtac6iiy_2bzlKaDEfYw_3d_3d
Posted by Tan Kin Lian at 5:33 AM

 

[Ah Hai]

Taxi booking by SMS for $1

Wednesday, December 24, 2008
Taxi booking by SMS for $1
Do you like a service to book a taxi by SMS for $1? Take part in this survey:

http://www.surveymonkey.com/s.aspx?sm=gW8OroZJ2gTNf_2fpAgkgpNQ_3d_3d
Posted by Tan Kin Lian at 10:04 AM