You die, your business

[sweetiepie]

yes, but how much time and money you got to put in the 1st place?

in law as in medicine there is no such thing as guaranteed win. any doctors and lawyers here can easily back me up on this. should be guaranteed win, but sometimes got something come out of nowhere, guaranteed win become lose.

Uncle my uncle was leesponsing to the below post not the medical post le KNN

Can't claim vehicle repair cost because the other driver did not report the accident?
You die, your business!

Forum: Unsuccessful motor insurance claim because other party did not report accident​

JAN 1, 2022


My car was hit from behind by another car, and the accident was recorded by my in-vehicle camera. I made an accident report and a third-party claim.
Despite having video evidence that the accident had been caused by the other party, my third-party claim was unsuccessful because the other party did not make an accident report.
Even after reminder letters were sent, the other party refused to report the accident. Reminders with no legal consequences seem ineffective.
Engaging a lawyer to sue the other party is an option but this may be more costly than the repair work.
This leaves me with only the option of making a claim on my own insurance. This would affect my insurance premiums and my no-claims discount.
Searching online, I have found many others caught in the same predicament and feeling helpless.
It does not make sense to me that those who cause accidents with no injuries can get away scot-free by not reporting the accident.

The General Insurance Association of Singapore has published a set of guidelines on its website on what should be done in this scenario. However, these have no legal weight.
It is time to fix this motor insurance loophole.

Lim Gee Wee

 

[LITTLEREDDOT]

Forum: Seniors need help in keeping up with tech advances​

Nov 4, 2022


I have always been amazed by the advancement of technology, and thankful for it, too.
However, after I had two bad experiences in one day, I realised that dealing with technology can be stressful for senior citizens like me.
First, I went to Our Tampines Hub swimming pool to get more information about aqua aerobics lessons.
There were three young men seated at the reception counter and all they could tell me was to download an app with which I could get all the information using my Singpass. They did not even offer to help me download the app.
The second bad experience was when I went to a supermarket and wanted to pay for some items. Like I had done in the past, I produced my PAssion card to get the reward points.
But I was then told that I could no longer use my PAssion card without first downloading the app.
Is there an app to serve us senior citizens?

Santakumari Ratnam

 

[LITTLEREDDOT]

Open verdict for case of man with dementia found dead in Hougang drain​

Mr William Leck Swe Chua was found dead in a drain in Hougang in January. PHOTOS: POLICE.GOV.SG, SHIN MIN DAILY NEWS

David Sun
Correspondent

Nov 4, 2022

SINGAPORE - An open verdict was declared by the coroner in the case of Mr William Leck Swe Chua, who was found dead in a drain in Hougang in January.
Mr Leck, 80, had gone missing after leaving his home in Hougang on Jan 1.
His body was found at around 7.10pm on Jan 3 wedged in a metal grate in a drain near 42 Defu Lane 7.
He was last seen alive at around 4.30pm, when cameras in the area spotted him entering a carpark in Defu Lane.
In a summary of his findings on Friday, State Coroner Adam Nakhoda said Mr Leck suffered from dementia, and in the time leading up to his death, his condition had become very pronounced.
The coroner said that while there was no evidence of external injuries or trauma and the police did not suspect foul play, the state of decomposition of his body meant the cause of his death could not be established.
He added that death by unnatural cause also could not be unequivocally established, and gave an open verdict based on this.

 

[LITTLEREDDOT]

FTX saga shines light on ways to improve crypto ecosystem​

Claire Huang
Business Correspondent
1 of 2

FTX founder Sam Bankman-Fried, once considered a star in the cryptocurrency world, resigned as the firm's chief executive last week. The troubled cryptocurrency exchange said it was making "every effort to secure all assets" following unauthorised transactions potentially worth hundreds of millions of dollars. AFP
UPDATED

NOV 15, 2022

SINGAPORE - The implosion of cryptocurrency favourite FTX, while painful, has opened a window for improving the way Singapore handles the industry and its players. These improvements could help grow the blockchain and crypto ecosystem over the longer term.
The saga has shone the light on several issues. For instance, the regulator here is right to say that it is “not possible” to stop Singapore users from signing up with overseas cryptocurrency exchanges. One possible solution is to ring-fence local users’ assets and ensure these are backed by reserves, as suggested in the Monetary Authority of Singapore’s (MAS) consultation paper released in late October.
But more can be done. For one, MAS’ current position on non-licensed offshore exchanges with Singapore subsidiaries can be clearer.
The regulator on Monday made the point that Singapore retail users and their assets were not parked under FTX’s Singapore entity, Quoine, because the two “operate as separate entities”. This was in relation to questions raised in a commentary by The Sunday Times, that now-bankrupt exchange FTX.com was not licensed to run in Singapore. The article had asked why Singapore retail users and their assets were not parked under Quoine.
Japan, for example, had insisted on an arrangement along these lines. In the United States, American users can sign up for an account with FTX only via local entity FTX US and not the global FTX.com. Such arrangements provide some cover to local investors even when the firm faces a global meltdown.
On Tuesday, Quoine and its parent company, Liquid, halted all withdrawals due to FTX’s bankruptcy filing.
We already know crypto speculation is frowned upon in Singapore but the FTX debacle shows just how hard it is to stop people from taking risks to get higher returns. Getting investors to park their funds in a local entity, with sufficient collateral, may help in the case of firms such as FTX.com. If the firm does not have this set-up, can there not be a summary of the risks involved that can serve as a reminder to Singapore users wanting to sign up with a non-licensed offshore exchange?

Many Singapore users of FTX.com were caught in the shocking collapse and were upset that they previously had to move their funds from rival player Binance to FTX.com. This was after Binance had to stop onboarding customers from Singapore and was placed on the Investor Alert List (IAL) by MAS in September 2021.
MAS on Monday said Binance was not banned from operating here. The crypto exchange did not have the required licence to solicit customers from Singapore and had to cease doing so, it had said.
Greater clarity is perhaps needed. For example, just like FTX.com, does this mean that Binance.com can still accept Singapore users without overtly soliciting them? After all, both firms are non-licensed offshore exchanges that tried to apply for a Singapore licence.


As a market observer put it: “Does it mean Binance can freely remove its restrictions on users here and be able to put back its app in the Apple and Android stores?”
More importantly, MAS said it lists Binance.com on the IAL because Singapore investors here may wrongly perceive the exchange as being regulated by MAS. “It would not be meaningful for MAS to list all unlicensed entities on the IAL. MAS did not have cause to list FTX on the same basis as Binance,” it said.

To make it more meaningful, MAS can consider updating its IAL system for crypto players.
For the uninitiated, this MAS list is influential. It is a signal to the world – Singapore users, global crypto players who may want to flock here and other regulators – who to shun. Some may perceive a firm that is not named in the IAL as “safe” or “all right”. In crypto, it means every other exchange is “all right” other than Binance.com. But we now know that that is not the case.
The list, which can be found on the MAS website, is not meant to be exhaustive. Separately, there is a Financial Institutions Directory detailing the entities regulated by MAS which the public can use to ascertain the licensing status of specific service providers.
That said, the IAL remains a powerful resource for some, which is why care must be taken to keep it updated and data should be provided. Perhaps the MAS can provide a summary of the status of the firm and its affiliates’ licence application if any, the relevant dates and the risks involved. Basically, the list should flag possible risks and pitfalls to potential investors.
The FTX saga is important because it counts blue-chip investors, such as Temasek, Softbank and Sequoia Capital as backers, and was able to sign up Singapore users easily and freely.
So far, Softbank and Sequoia are writing off their investments in FTX, which filed for bankruptcy on Friday. FTX is reported to have liabilities in the billions. In such a scenario, one can also expect that Temasek will likely mark its FTX investment down to zero.
It would be good to hear from the group on the lessons learnt.

 

[LITTLEREDDOT]

Singapore was second-biggest user of FTX pre-collapse, averaging 240,000 unique visitors a month​

The shuttering of FTX’s largest competitor, Binance, in Singapore in December 2021 saw Binance users here switching to FTX. PHOTO: AFP
Kelly Ng


NOV 22, 2022

SINGAPORE – Singapore investors accounted for 5 per cent of the Web traffic to FTX.com, based on the number of monthly unique visitors from January to October 2022, making them the second-largest group of users of the site.
An average of 241,675 unique users from Singapore visited the now-collapsed crypto exchange each month, data from crypto data aggregator CoinGecko shows.
South Korea saw the highest traffic share of 6.1 per cent, with 297,229 unique users on average visiting FTX.com monthly, across desktop and mobile Web apps.
Japan placed third, accounting for 4.6 per cent of Web traffic to the Bahamas-based exchange, or 223,513 unique users each month.
Billions in crypto investor funds were lost in a matter of days early in November, when FTX collapsed after a crippling liquidity crunch rendered the exchange insolvent.
The shuttering of FTX’s largest competitor, Binance, in Singapore back in December 2021 saw Binance users here switching to FTX. This may explain why Singapore ranks high on the list of countries affected by FTX’s stunning implosion, CoinGecko said.
CoinGecko’s study looked at monthly unique visitors and traffic share by country on FTX.com via desktop and mobile devices from January to October 2022, based on data from Web analytics platform SimilarWeb.

Other Asian markets accounting for the highest volume of FTX users include Taiwan, India, Thailand, Hong Kong, the Philippines, Vietnam and Indonesia.
FTX’s other marks of credibility include it being backed by Singapore’s Temasek, which has since written down its $275 million investment in the exchange. Japanese investment giant SoftBank invested US$100 million (S$138 million) in FTX earlier in 2022.
The Monetary Authority of Singapore said on Monday that while both Binance and FTX were not licensed in Singapore, Binance had been actively soliciting users here, which is a “possible contravention” of the Payment Services Act. The regulator first placed Binance on the Investor Alert List in September last year.
FTX, however, was not placed on the alert list as there was no evidence of the company soliciting users in Singapore and it did not offer trades in Singapore dollars.
But Singapore users were still able to access online FTX services, and the regulator said it was not possible to ring-fence the assets that Singapore investors chose to put up with FTX, nor ensure that the company backed them with reserves, as FTX is unlicensed.

 

[LITTLEREDDOT]

No one should die alone, be left undiscovered for weeks​

Apart from tackling reclusiveness, we should also look at shoring up companionship in the last moments​

Sng Hock Lin

Beyond governmental and policy changes, the biggest impact must come from community action to tackle social isolation problems, says the author. PHOTO: ST FILE


NOV 28, 2022

Recent news of a reclusive pair – an elderly man and his mother – who were found dead in a flat sent shockwaves across Singapore.
It spoke volumes of the decline in neighbourly relations and raises questions over whether we have failed our seniors as a society.
The news is heartbreaking. As social creatures who surround ourselves with loved ones during major life events, this need for companionship is even more urgent for someone near death. Fear of the unknown and the finality of life in those last moments can be terrifying, particularly if the person dies from a traumatic event like a heart attack.
News such as that of the elderly couple make us anxious about our own future and mortality, more so because we know that reports of such incidents will only increase and fear that a lonely death could await us as well. In a study by the Ministry of Health (MOH) and National University of Singapore (NUS), the number of seniors living alone is projected to increase by four times from around 70,000 in 2020 to 210,000 in 2060.
Changes in demographics and family structure explain this trend, but individual choices also play a part. Either by choice, estrangement from family or because they are childless, it is commonplace to see seniors live by themselves in older estates like Bukit Merah and Queenstown.
Younger seniors in their 60s are still fit and healthy, but their sight, hearing and sense of touch may begin deteriorating as they approach their 70s and 80s. Those fiercely independent who insist on continuing to live by themselves will find it increasingly difficult to carry out activities of daily living unaided. This could include eating, bathing, moving around and other actions that they used to take for granted. Many keep their problems to themselves for fear of inconveniencing others.
This fear of inconveniencing others seems like a common but unhealthy two-way dynamic. In Singapore, knocking on the door of a reclusive senior can be awkward, especially if people barely speak to one another.

Neighbours tend to be cordial, but keep to boundaries. Fewer are exchanging greetings or striking up casual conversations like before, according to a survey by HDB released in February 2021. What started out as respect for privacy and social distancing during Covid-19 can morph into benign avoidance.
So, in spite of desiring some company, lonely seniors stay away for fear of troubling others, and neighbours do likewise to avoid irritating one another.
Hospice programmes such as those run by Assisi Hospice and HCA Hospice Care offer a way out of the problem.

Assisi Hospice’s No One Dies Alone programme provides company to those without friends and family in their final hours. Volunteers befriend them and take on shifts to keep them company as signs emerge that they may soon pass away. Palliative care specialists call this the “active dying period” when people tend to communicate less, sleep more and eat less.
One of Singapore’s largest hospice care providers, HCA Hospice, also offers a Vigil Angels service providing respite to caregivers by accompanying the dying.
Still, the challenge is the limitation of these services to patients already enrolled into such hospice programmes. They may not be accessible to the reclusive who keep to themselves.

Lonely deaths in Japan​

Global examples show pre-empting seniors dying alone requires a whole-of-society effort to tackle reclusiveness. In rapidly ageing Japan, solitary deaths, called “kodokushi”, have become such a major public concern that the government appointed its first Minister of Loneliness Tetsushi Sakamoto in 2021 to work with multiple official agencies to stem social isolation.
Japan discovered an alarming fact: “Hikikomori”, or the acute social withdrawal rate, was growing, with people sometimes not leaving their homes for months at a time, citing a fear of social interactions and feelings of inadequacy or even depression. Japanese mental health experts have estimated there could be up to two million people affected by hikikomori, with half of those middle-aged or elderly.
The problem is compounded by the emergence of “ghost towns”. Decades ago, fuelled by the post-war economic boom, Japan built large public housing projects outside major cities like Osaka and Tokyo. These vast, concrete complexes now lie empty as adult children move out of their homes and precincts are deserted, with ageing inhabitants left to fend for themselves.
The same is happening in Hong Kong and China. Could it also happen in Singapore in older estates?

Ageing-in-place​

Kampung Admiralty, which was completed in 2017, is Singapore’s first integrated housing development. PHOTO: ST FILE
Singapore has sought to innovate with new housing models to cater to an ageing population. In 2017, the first integrated housing development, Kampung Admiralty, was completed. It incorporates housing for the elderly with a wide range of social, healthcare, communal, commercial and retail facilities. More such models, like Yew Tee Integrated Development, are set to follow.
These “vertical kampungs” encourage healthy community living by co-locating childcare and eldercare services and sports facilities.
Steps have also been taken to enliven existing estates where many seniors live. The Community Networks for Seniors programme under MOH and its Agency for Integrated Care (AIC) brings together different stakeholders – voluntary welfare organisations, People’s Association’s (PA) grassroots organisations, health services and government agencies – to jointly engage and support our seniors.
These aim to extend befriending services to seniors living alone, and provide health and social support for those with acute needs. Under the National Healthcare Group, for example, there are Wellness Kampung and Share-a-Pot programmes to empower seniors to lead others in exercise and healthy eating.
Beyond governmental and policy changes, however, the biggest impact must come from community action to tackle the social isolation problems.
Turning again to Japan, local organisations like Hocchi-No-Lodge, in the town of Karuizawa, provide care and organise social activities, which includes a gym, cafe, arts and cultural events to engage residents, as well as support the creation of interest groups and hobby clubs. These go beyond meeting immediate needs to promote well-being.
In Boston, a group of older adults pioneered Beacon Hill Village – a community network promoting fitness services, social bonding and networking through volunteerism, peer-to-peer and self-leadership activities. Residents mobilise older adults to serve fellow senior neighbours. By putting older people in the centre, the model reframes them as assets rather than liabilities, empowering them as catalysts of change in intervention strategies.


They have taken their cue from the Ibasho principles of Japan which put seniors at the core. Empowering older adults in self-leadership, and making them feel valued can bolster a sense of identity, belonging and meaning in their lives.
The concept has garnered a movement – a “village movement” – moving the narrative of ageing as one of “ageing-in-place” and therefore ageing as something to be tolerated, to “ageing-in-community” where longevity is a resource to be harnessed for greater contributions to society.
Yet despite the growing popularity of this movement, greater institutional partnerships with the public and private sectors, and healthcare providers will be needed to tackle the challenge of “hikikomori.”

Recreate the kampung spirit​

A strong community ethos is similarly alive in Singapore. We call it the kampung spirit and can see it most visibly in older towns like Chinatown where many seniors gather.
There may be nuances across neighbourhoods. A survey some years back by the National University Health System of elderly people living in Chinatown and Toa Payoh districts showed more living in Chinatown were happy and satisfied with life (71 per cent), compared with Toa Payoh (69 per cent).
Because of the small spaces of their rental flats in Chinatown, dwellers tend to gather outside to meet friends in the community centres or void decks and create strong relationships. In contrast, Toa Payoh seniors living in bigger flats did not interact as much with neighbours and seemed more isolated and lonelier.

Seniors gathering at an open space at Chinatown Complex on June 23, 2022. PHOTO: ST FILE
There are various senior interest groups in Singapore trying to break this isolation. The PA Wellness Programme offers seniors a wide variety of activities keeping them mentally, physically and socially active. SportSG’s Team Nila, a sports volunteers group, started a Silver Champion movement to promote senior volunteerism. Apart from exercises, they also plant vegetables within ActiveSG Sport Centres and share their harvest with the needy.
The Lion Befrienders and Society of St Vincent de Paul are also doing a good job befriending and visiting the homes of the elderly.
More collaboration among agencies and grassroots organisations could support the growth of these networks to be a force for doing good for seniors, especially those needing assistance.
Based on my research, many have benefited physically and mentally from such social interactions, but more work is needed to understand factors preventing the recalcitrant and reclusive from participating.
Recreating this kampung spirit must be a priority for an ageing Singapore. The pandemic has exposed the dangers of vulnerable seniors left to their own devices as neighbours around them busy themselves. A survey by Singapore Management University’s Centre for Research on Successful Ageing (Rosa) completed in 2020 showed the number of seniors feeling satisfied with life dropping, with those living alone feeling more isolated socially.

Early warning​

At the very least, we need early warning indicators of seniors in crisis. Technology can be an enabler.
Security firm Aetos and CoNEX, a healthcare company, have deployed predictive AI-enabled technology platforms for non-intrusive monitoring of seniors at home. These leverage round-the-clock monitoring and a front-line responder network to facilitate timely interventions when anomalies such as falls are predicted and detected.
The community could be enlisted to act as additional eyes and ears looking out for our seniors. Senior engagement should be expanded to include intergenerational volunteers. Corporations and schools could consider adopting a village concept to have employees volunteer at specific senior activity centres or active ageing hubs beyond episodic events during holidays.
Front-line government agencies such as PUB can monitor the daily utility consumption of seniors living alone in flats to track anomalies. Postmen can sound the alarm when spotting uncollected mail in postboxes, and cleaners should alert someone if junk mail piles up at the doors of senior dwellers.
There may also be new demand for platform companies from this ageing economy. Delivery workers can be human sensors or play extended community liaison roles running errands for seniors, escorting them to doctors, or delivering medicine. From GrabFood, we could have GrabCare.
Each of us has a part or more to play if we don’t want another lonely death. Singapore needs to step up now.

• Sng Hock Lin is pursuing his PhD in gerontology at the Singapore University of Social Sciences (SUSS)

 

[LITTLEREDDOT]

Forum: Skin centre appointment pushed back many months with each reschedule request​

DEC 8, 2022

I visited the National Skin Centre on Jan 7, 2021, and a review appointment was scheduled for Dec 9, 2021.
Due to unavoidable circumstances, which included Covid-19-related issues, I had to postpone my appointment four times. It was first rescheduled to March 2022, then July, and then November. Now, my appointment is set for April 17, 2023.
Why is the date pushed back an average of four months every time an appointment is rescheduled?
It will be more than two years since I last saw a doctor at the skin centre. Fortunately, mine is not an urgent or serious case.
Nonetheless, the medication I received on my January 2021 visit has long since expired or been used up.

Raoul Sequeira

 

[LITTLEREDDOT]

Forum: Specialist appointments are many months away​

DEC 8, 2022

Getting timely specialist appointments for medical conditions is becoming a challenge.
I have diabetes, and was referred to a hospital and the Singapore National Eye Centre for follow-up tests and examination of key indicators such as falling sodium levels and floaters (spots) in my vision.
The earliest appointments I could get were on Feb 17 and May 8 in 2023. And these were for referrals made in November 2022.
The impact of low sodium levels or floaters in vision could be much worse after having to wait four to six months.
The authorities should look into the situation to ensure that timely medical assistance is provided at all levels.

Nallan Chakravarti Raghava

 

[LITTLEREDDOT]

Forum: Difficult for sister with special needs to get GovCash payout at ATM​

Dec 16, 2022

I received a letter from the Ministry of Finance informing me that my sister is entitled to a $700 payout via GovCash.

As my sister has severe Down syndrome, she does not have a bank account. In the past, we had no issue encashing the cheques given to her by the Government on her behalf. We just had to get a doctor’s certification and present it at the counter of UOB or DBS bank. We did not have to take her in her wheelchair to the bank, and family members were able to withdraw her benefits for her.

But the procedure for receiving cash via GovCash now requires us to take her to an OCBC ATM and have her face scanned for verification. This can be very challenging for people like my sister who have special needs, and their families.

Getting her out of the house is already a tedious task, and getting her face scanned at the ATM will definitely not be easy, as she would not be able to keep still.

We are even considering giving up on claiming the $700 payout, although it is quite a great sum to us, as she has no source of income and relies on the family to take care of her.

See Swee Tin

 

[LITTLEREDDOT]

Forum: Can probe be widened to look at NSFs’ involvement in risky operations?​

DEC 13, 2022

I was sad to read about Corporal Edward H. Go, who died in the line of duty (NSF firefighter dies after falling unconscious while putting out blaze at Henderson Rd flat, Dec 8).
I read that Cpl Go had trained to be a firefighter for 12 weeks before he was posted to the Central Fire Station, and had responded to more than 20 fire and rescue incidents during his time there.
I did not know before this happened that full-time national servicemen (NSFs) serving in the Singapore Civil Defence Force (SCDF) are tasked with real-life front-line operations. I always thought that front-line firefighting was done by only SCDF regulars.
I also used to believe that NSFs serving in SCDF had an easier time than NSFs serving in the armed forces, but this incident has changed that.
It was reported that a probe into the firefighting operation linked to Cpl Go’s death has begun (Probe into incident linked to firefighter who died has begun, Dec 12). I think NSFs’ involvement in certain high-risk operations should also be looked into.
We owe our gratitude to all SCDF personnel, including NSFs, who protect and save our lives and properties.

Lim Ai Tiong

 

[LITTLEREDDOT]

Forum: Allow court-appointed deputies to hire professionals to submit online reports​

2022 12 19

I am one of three court-appointed joint deputies for a relative who is incapable of managing her financial and other affairs. Two of us belong to the Pioneer and Merdeka generations.
We have been dutifully submitting the annual deputy report to the Office of the Public Guardian (OPG), with the help of an accountant. This has gone smoothly for the past eight years.
However, the OPG informed us on Nov 14 that all reports must be submitted online, using the Singpass account of one of the joint deputies. When we asked the OPG if we can appoint a professional to do the submission on our behalf, we were told that we cannot.
I appreciate that as a Smart Nation, we should try to digitalise most of our transactions with government agencies. But although this may be simple and convenient for most citizens, Pioneer and Merdeka generation seniors often find it a challenge just to use a computer, let alone submit documents electronically.
The new system has additional reporting requirements which make our job as deputies more burdensome. They are more complicated, and require coordination between multiple parties online before submission.
I fail to understand why deputies cannot hire professionals to prepare and file these reports on their behalf. Deputies would be able to discharge their duties more efficiently, leaving professionals to navigate the complexities of online reporting. Even for private matters such as income tax submission, professionals can be hired to submit the tax returns.
In trying to safeguard the interests of the incapacitated, the OPG should not impose superfluous reporting requirements on deputies. Unpaid deputies are already overstretched in having to provide daily care for their charges, over and above their families’ needs and their own.

Chung Sook Yee

 

[Loofydralb]

FTX saga shines light on ways to improve crypto ecosystem​

Claire Huang
Business Correspondent
1 of 2

FTX founder Sam Bankman-Fried, once considered a star in the cryptocurrency world, resigned as the firm's chief executive last week. The troubled cryptocurrency exchange said it was making "every effort to secure all assets" following unauthorised transactions potentially worth hundreds of millions of dollars. AFP
UPDATED

NOV 15, 2022

SINGAPORE - The implosion of cryptocurrency favourite FTX, while painful, has opened a window for improving the way Singapore handles the industry and its players. These improvements could help grow the blockchain and crypto ecosystem over the longer term.
The saga has shone the light on several issues. For instance, the regulator here is right to say that it is “not possible” to stop Singapore users from signing up with overseas cryptocurrency exchanges. One possible solution is to ring-fence local users’ assets and ensure these are backed by reserves, as suggested in the Monetary Authority of Singapore’s (MAS) consultation paper released in late October.
But more can be done. For one, MAS’ current position on non-licensed offshore exchanges with Singapore subsidiaries can be clearer.
The regulator on Monday made the point that Singapore retail users and their assets were not parked under FTX’s Singapore entity, Quoine, because the two “operate as separate entities”. This was in relation to questions raised in a commentary by The Sunday Times, that now-bankrupt exchange FTX.com was not licensed to run in Singapore. The article had asked why Singapore retail users and their assets were not parked under Quoine.
Japan, for example, had insisted on an arrangement along these lines. In the United States, American users can sign up for an account with FTX only via local entity FTX US and not the global FTX.com. Such arrangements provide some cover to local investors even when the firm faces a global meltdown.
On Tuesday, Quoine and its parent company, Liquid, halted all withdrawals due to FTX’s bankruptcy filing.
We already know crypto speculation is frowned upon in Singapore but the FTX debacle shows just how hard it is to stop people from taking risks to get higher returns. Getting investors to park their funds in a local entity, with sufficient collateral, may help in the case of firms such as FTX.com. If the firm does not have this set-up, can there not be a summary of the risks involved that can serve as a reminder to Singapore users wanting to sign up with a non-licensed offshore exchange?

Many Singapore users of FTX.com were caught in the shocking collapse and were upset that they previously had to move their funds from rival player Binance to FTX.com. This was after Binance had to stop onboarding customers from Singapore and was placed on the Investor Alert List (IAL) by MAS in September 2021.
MAS on Monday said Binance was not banned from operating here. The crypto exchange did not have the required licence to solicit customers from Singapore and had to cease doing so, it had said.
Greater clarity is perhaps needed. For example, just like FTX.com, does this mean that Binance.com can still accept Singapore users without overtly soliciting them? After all, both firms are non-licensed offshore exchanges that tried to apply for a Singapore licence.


As a market observer put it: “Does it mean Binance can freely remove its restrictions on users here and be able to put back its app in the Apple and Android stores?”
More importantly, MAS said it lists Binance.com on the IAL because Singapore investors here may wrongly perceive the exchange as being regulated by MAS. “It would not be meaningful for MAS to list all unlicensed entities on the IAL. MAS did not have cause to list FTX on the same basis as Binance,” it said.

To make it more meaningful, MAS can consider updating its IAL system for crypto players.
For the uninitiated, this MAS list is influential. It is a signal to the world – Singapore users, global crypto players who may want to flock here and other regulators – who to shun. Some may perceive a firm that is not named in the IAL as “safe” or “all right”. In crypto, it means every other exchange is “all right” other than Binance.com. But we now know that that is not the case.
The list, which can be found on the MAS website, is not meant to be exhaustive. Separately, there is a Financial Institutions Directory detailing the entities regulated by MAS which the public can use to ascertain the licensing status of specific service providers.
That said, the IAL remains a powerful resource for some, which is why care must be taken to keep it updated and data should be provided. Perhaps the MAS can provide a summary of the status of the firm and its affiliates’ licence application if any, the relevant dates and the risks involved. Basically, the list should flag possible risks and pitfalls to potential investors.
The FTX saga is important because it counts blue-chip investors, such as Temasek, Softbank and Sequoia Capital as backers, and was able to sign up Singapore users easily and freely.
So far, Softbank and Sequoia are writing off their investments in FTX, which filed for bankruptcy on Friday. FTX is reported to have liabilities in the billions. In such a scenario, one can also expect that Temasek will likely mark its FTX investment down to zero.
It would be good to hear from the group on the lessons learnt.

Closing the barn door after the horse has bolted.
Another piece by the prostitutes to con the sinkie idiots.

 

[mudhatter]

3rd world country

 

[LITTLEREDDOT]

Forum: Equip polyclinics to make more accurate diagnoses for eye care emergencies​

Dec 30, 2022

I recently experienced floaters in my left eye over the Christmas period, and I visited Ang Mo Kio Polyclinic immediately after the holiday.
The doctor was very informative and asked a number of questions to determine whether mine was an emergency case.
She made an urgent referral to Tan Tock Seng Hospital for an appointment. She also advised me that if my condition worsened or if I experienced light flashes, I should immediately go to the accident and emergency department, as it could mean that I had a retinal tear.
I appreciated the doctor’s explanation but was aware that the polyclinic did not have an optical scanner.
I then decided to consult a private specialist, who found that there was a retinal tear and immediately performed laser surgery to repair it. I ended up with an expensive medical bill.
This made me wonder if polyclinics are appropriately equipped. Why is there no eye scanner there so that a more accurate diagnosis can be made?
It has been a few days since my consultation at the polyclinic, and I still have not been given an appointment at the hospital.

Lui Poh Choo

 

[LITTLEREDDOT]

Forum: Digitalisation solutions must serve all, not just the service providers​

JAN 6, 2023

Digitalisation can help a nation greatly in terms of productivity if applied correctly.
However, such an effort should not be left entirely to the service providers to design and grow without considering the nation’s total productivity.
Banks and stock exchanges, among others, used to send customers paper monthly statements – a full-push method. We could file the statements, or a busy executive could get an assistant to file them.
Post-digitalisation, some of these service providers adopt a time-limited, half-push half-pull method.
They send an SMS to customers to alert them that the statements are ready to be downloaded within a certain time period.
This can make things difficult for someone who is busy and has to perform many such tasks on a regular basis, especially if different service providers have their own unique delivery systems.
Digitalisation should require service providers to think of a full productivity goal, not just one that benefits only themselves.

Engineering teaches us to innovate by manipulating the combination of man, machine and method.
Here, shouldn’t the government machinery step in and come up with one standard method of digital statement delivery that the market would embrace, and which service providers must follow?
One simple suggestion is to require service providers to have no time limits on when statements can be downloaded, fulfilling a full-push responsibility.
After all, providing a small cloud storage space for clients should be seen as good customer service.

Ong Yong Hwee

 

[LITTLEREDDOT]

42 national servicemen died while in service over past 20 years​

SCDF personnel saluting the hearse headed for Service Hall 1 during a ceremonial procession for Sergeant (1) Edward H. Go at Mandai Crematorium and Columbarium on Dec 13, 2022. ST FILE PHOTO

Zhaki Abdullah

Jan 10, 2023

SINGAPORE – A total of 42 national servicemen died while in service over the last two decades, Minister for Defence Ng Eng Hen said on Monday.
They comprise 35 from the Singapore Armed Forces (SAF), four from the Singapore Police Force (SPF) and three from the Singapore Civil Defence Force (SCDF), Dr Ng said in a written reply to a parliamentary question from Non-Constituency MP Hazel Poa.
Of these, six cases – two from the SAF, three from the police and one from the SCDF – were due to traffic accidents on the way to or from work, or while on official duties, Dr Ng said, noting that such incidents are covered under the Defence and Home Affairs ministries’ compensation framework.
Ms Poa had asked how many full-time and operationally ready national servicemen from the SAF, SPF and SCDF had died while in service, or had permanent disability from a service injury, over the past 20 years.
During that period, there were a total of 52 cases of permanent disability to the brain, spinal cord, eyes or limbs due to serious service-related injuries, said Dr Ng.
Forty-three were from the SAF, four from the SPF and five from the SCDF, he added.
Eleven cases – eight from the SAF, one from the police and two from the SCDF – were due to traffic accidents, the minister said.

Every year, about 300,000 male Singapore citizens and permanent residents perform their national service duties across the three services, he noted.
“The proportions of deaths and permanent disability due to service within the SAF, SPF and SCDF are therefore 0.001 per cent, 0.001 per cent and 0.002 per cent, respectively.”
Dr Ng said that though the rates of both death and permanent disability due to service are low, the SAF and Home Team “constantly strive to achieve a zero fatality rate”.

“Every incident is investigated at the highest levels of command, with corrective measures taken to improve the safety under which our national servicemen train and operate,” he said.
Ms Poa, from the Progress Singapore Party, had also asked about the amount of compensation paid in such cases.
All national servicemen are covered by injury and life insurance, Dr Ng replied, noting that the coverage under both policies was doubled from a maximum of $150,000 to $300,000 from Jan 1, 2023.
Further compensation is provided depending on the degree of disability and circumstances of injury or death, he added.

While the total compensation for such cases takes reference from industrial benchmarks such as the Work Injury Compensation Act (Wica), they are set several times higher to “reflect the mandatory nature of national service”, he said.
The amounts vary considerably due to the circumstances of each case, Dr Ng said, adding that payouts have ranged from several thousand dollars to more than $1.5 million.
“For the same injury and comparable circumstances, the total compensation provided to national servicemen is about four times the amounts paid under the Wica,” he said.
Dr Ng added that servicemen who sustain service-related injuries are also provided free medical treatment for their injury for as long as medically necessary at SAF, SPF and SCDF medical facilities, as well as public healthcare institutions.
In December, 19-year-old Edward H. Go, a full-time national serviceman with the SCDF, died after battling a blaze in a rental flat in Henderson Road.

 

[ODACHEK]

42 national servicemen died while in service over past 20 years​

SCDF personnel saluting the hearse headed for Service Hall 1 during a ceremonial procession for Sergeant (1) Edward H. Go at Mandai Crematorium and Columbarium on Dec 13, 2022. ST FILE PHOTO

Zhaki Abdullah

Jan 10, 2023

SINGAPORE – A total of 42 national servicemen died while in service over the last two decades, Minister for Defence Ng Eng Hen said on Monday.
They comprise 35 from the Singapore Armed Forces (SAF), four from the Singapore Police Force (SPF) and three from the Singapore Civil Defence Force (SCDF), Dr Ng said in a written reply to a parliamentary question from Non-Constituency MP Hazel Poa.
Of these, six cases – two from the SAF, three from the police and one from the SCDF – were due to traffic accidents on the way to or from work, or while on official duties, Dr Ng said, noting that such incidents are covered under the Defence and Home Affairs ministries’ compensation framework.
Ms Poa had asked how many full-time and operationally ready national servicemen from the SAF, SPF and SCDF had died while in service, or had permanent disability from a service injury, over the past 20 years.
During that period, there were a total of 52 cases of permanent disability to the brain, spinal cord, eyes or limbs due to serious service-related injuries, said Dr Ng.
Forty-three were from the SAF, four from the SPF and five from the SCDF, he added.
Eleven cases – eight from the SAF, one from the police and two from the SCDF – were due to traffic accidents, the minister said.

Every year, about 300,000 male Singapore citizens and permanent residents perform their national service duties across the three services, he noted.
“The proportions of deaths and permanent disability due to service within the SAF, SPF and SCDF are therefore 0.001 per cent, 0.001 per cent and 0.002 per cent, respectively.”
Dr Ng said that though the rates of both death and permanent disability due to service are low, the SAF and Home Team “constantly strive to achieve a zero fatality rate”.

“Every incident is investigated at the highest levels of command, with corrective measures taken to improve the safety under which our national servicemen train and operate,” he said.
Ms Poa, from the Progress Singapore Party, had also asked about the amount of compensation paid in such cases.
All national servicemen are covered by injury and life insurance, Dr Ng replied, noting that the coverage under both policies was doubled from a maximum of $150,000 to $300,000 from Jan 1, 2023.
Further compensation is provided depending on the degree of disability and circumstances of injury or death, he added.

While the total compensation for such cases takes reference from industrial benchmarks such as the Work Injury Compensation Act (Wica), they are set several times higher to “reflect the mandatory nature of national service”, he said.
The amounts vary considerably due to the circumstances of each case, Dr Ng said, adding that payouts have ranged from several thousand dollars to more than $1.5 million.
“For the same injury and comparable circumstances, the total compensation provided to national servicemen is about four times the amounts paid under the Wica,” he said.
Dr Ng added that servicemen who sustain service-related injuries are also provided free medical treatment for their injury for as long as medically necessary at SAF, SPF and SCDF medical facilities, as well as public healthcare institutions.
In December, 19-year-old Edward H. Go, a full-time national serviceman with the SCDF, died after battling a blaze in a rental flat in Henderson Road.

1 death in 20 years is too many, we have 42...

 

[LITTLEREDDOT]

Elderly woman found dead in flat after neighbour complained of foul smell​

Wong Shiying

Jan 11, 2023

SINGAPORE - Mr Lim Quey Eng first noticed a foul smell drifting in from the open window of his one-room rental flat in Block 100 Aljunied Crescent on Jan 4.
After five days of the stench persisting, the 70-year-old retiree could not bear it any more and told a community volunteer about it on Jan 8.
The volunteer, who only wanted to be known as Ms Choo, told The Straits Times that she searched five floors before linking the stench to a unit on the 10th floor, directly below Mr Lim’s flat.
The police were alerted, and they found a 69-year-old woman lying motionless in the unit on Jan 8. She was pronounced dead at the scene.
No foul play is suspected based on preliminary investigations.
MP of MacPherson SMC Tin Pei Ling, who was at the block on Sunday, told ST she believes the deceased lived alone.
“My grassroots volunteers knew about her and reached out to her regularly, including offering to help her clean her house,” said Ms Tin.

“She didn’t really engage with us. Even on the rare occasion she opened the door, she didn’t open it fully.”
Block 100 in Aljunied Crescent has 12 floors with 198 one-room rental flats.
Residents who live on the block’s 10th floor said the deceased mostly kept to herself and rarely spoke to her neighbours. It is unclear if she had any relatives.


Mr Seah Quee, 64, a long-time resident who stays two units away from the deceased, said: “I’ve lived here for 13 years and only spoken to her briefly once or twice. I’ve never seen anyone visit her.”
Another resident, Mr Rahmat Asjadi, said he sometimes saw the deceased at the void deck feeding cats.
“When I saw her along the corridor or in the lift, I would say hi, but she wouldn’t return the greeting. Her door was always closed, and she didn’t speak to the other neighbours,” said the 54-year-old electrician.
When ST visited the block on Tuesday, many units on the 10th floor had their doors shut and there was an odour coming from the flat where the dead woman used to live.
Shin Min Daily News reported on Tuesday that the deceased’s flat was extremely cluttered. The place had to be cleaned before her body could be removed from the unit.
Ms Tin said it is heartbreaking when she hears of such cases where seniors die alone at home.
“We can only keep reaching out in hopes that seniors will feel encouraged to open up and engage with us. For seniors living alone, it is also fine if they have their own social network and routine,” she said.
“But we also have to respect an individual’s desire to have their own space. As much as we try, it takes two hands to clap.”

 

[LITTLEREDDOT]

Forum: Take steps to protect people walking below from high-rise littering​

JAN 16, 2023

An area that was not highlighted in the report on the proposed change to the law on high-rise littering (Proposed law on littering puts onus of proof on flat owners, Jan 10) is the danger posed by objects that fall from a height to the people walking below. The danger is even greater if we add in the risk of falling windows and air-conditioning units.
The National Environment Agency said there may be more cases of high-rise littering with more flats, which are taller and denser, being built. This would be a disturbing trend.
How are we going to protect the people who are walking below? Deterring flat residents from littering is not enough, and action must be taken on the ground to reduce the possibility of injury from falling objects.
I proposed in a previous letter that people walking in and out of void decks should be channelled away from window openings, and that awnings should be built for protection if regular passages have to go under the window openings (Take more steps to protect those walking below from falling objects, Dec 20, 2021).
If this is not feasible, what other physical measures can be taken? We should take concrete action now before more people are hurt.

Foo Chek Boon

 

[LITTLEREDDOT]

Forum: Widow can no longer claim maid levy relief because of change in marital status​

Jan 28, 2023

The Inland Revenue Authority of Singapore informed me recently that I no longer qualify for foreign domestic worker levy relief, which can be claimed by married women, and divorcees or widows with school-going children.
I am now a widow, making my status “unmarried”. My children are working adults.
My friends can still get the relief because they still have a husband.
This is very unfair to me, and other women in the same situation, as I am not single by choice.
I am 66 years old and still working full time.
I employ a maid because I need someone to handle all the household matters so that I can go out to work with peace of mind.
I do not have the stamina and strength to work a full day and then come back home to take care of all the household matters.

The Government is encouraging women to continue working and to contribute to the economy. It is progressively pushing the retirement age higher. Removing this tax benefit only discourages me from contributing.
I know there are other women in the same situation as I am.
We are already grieving the loss of our spouses. Don’t make things worse for us with overly rigid regulations.

Wee Siew Poh