Om Mani Padme Hum
- wong chee tat :)
Saturday, January 31, 2015
Friday, January 30, 2015
Scheduled Maintenance - POSB
Scheduled Maintenance
We are constantly upgrading our systems to bring you a more pleasant banking experience. During the mentioned period of scheduled maintenance, some of the services will not be available:
iBanking
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|---|---|---|
Date
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Maintenance Period
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Services under Maintenance
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01 Feb 2015
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0730hrs to 0930hrs
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System Maintenance
- SRS Account Summary and Account Details |
08 Feb 2015
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0000hrs to 0900hrs
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System Maintenance
- Token registration service |
08 Feb 2015
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0230hrs to 0400hrs
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System Maintenance
- Enquiry eStatement Status - Enrol eStatement - View eStatement - Cancel eStatement |
- wong chee tat :)
Thursday, January 29, 2015
More HDB flats being transacted at or below valuation: SRX
More HDB flats being transacted at or below valuation: SRX
Property analysts say the overall trend is a result of several factors, including a weaker market sentiment and changes to HDB resale procedures put in place last March.
SINGAPORE: More Housing and Development Board (HDB) resale flats are being transacted at or below valuation. According to latest figures from the Singapore Real Estate Exchange (SRX), about 8,500 HDB resale flats changed hands in 2014.
In the fourth quarter of the year, 41.6 per cent were sold below valuation, compared to 36.9 per cent in the first three months of the year.
For transactions at valuation, these climbed from 15.7 per cent of all transactions in the first quarter to 37.6 per cent in the fourth quarter. On the other hand, the number of transactions above valuation fell from almost 48 per cent of all transactions in the first quarter to 20 per cent in the fourth quarter.
Property analysts said the overall trend is a result of several factors, including a weaker market sentiment and changes to HDB resale procedures put in place last March.
Mr Nicholas Mak, executive director for research and consultancy at SLP International Property Consultants, said: "As buyers and sellers start to be more familiar with these procedures, we also see that the percentage of transactions that were done above valuation has also fallen to just 20 odd per cent. And I think this also shows that the market is starting to stabilise."
- CNA/ms
- wong chee tat :)
Property analysts say the overall trend is a result of several factors, including a weaker market sentiment and changes to HDB resale procedures put in place last March.
SINGAPORE: More Housing and Development Board (HDB) resale flats are being transacted at or below valuation. According to latest figures from the Singapore Real Estate Exchange (SRX), about 8,500 HDB resale flats changed hands in 2014.
In the fourth quarter of the year, 41.6 per cent were sold below valuation, compared to 36.9 per cent in the first three months of the year.
For transactions at valuation, these climbed from 15.7 per cent of all transactions in the first quarter to 37.6 per cent in the fourth quarter. On the other hand, the number of transactions above valuation fell from almost 48 per cent of all transactions in the first quarter to 20 per cent in the fourth quarter.
Property analysts said the overall trend is a result of several factors, including a weaker market sentiment and changes to HDB resale procedures put in place last March.
Mr Nicholas Mak, executive director for research and consultancy at SLP International Property Consultants, said: "As buyers and sellers start to be more familiar with these procedures, we also see that the percentage of transactions that were done above valuation has also fallen to just 20 odd per cent. And I think this also shows that the market is starting to stabilise."
- CNA/ms
- wong chee tat :)
Nurses, sales assistants toughest vacancies to fill by locals: MOM statistics
Nurses, sales assistants toughest vacancies to fill by locals: MOM statistics
Registered nurse was identified as the top PMET position to fill, while shop sales assistants took the position for non-PMET occupations, according to latest data from the Manpower Ministry.
SINGAPORE: The number of job vacancies rose to 67,400 as of September 2014 - an 8.9 per cent increase from 61,900 in 2013. Registered nurses and shop sales assistants were the toughest positions to fill by locals, according to latest data released by the Manpower Ministry (MOM) on Tuesday (Jan 27).
Of the vacancies, service and sales workers were in keen demand, representing 25 per cent of total vacancies, or 15,330 specifically. The positions included shop sales assistants, security guards and waiters, according to the press release.
In September 2014 itself, four in five of all vacancies were from the services industry. The bulk of vacancies came from community, social and personal services, healthcare and tertiary institutes, it added.
HARD TO HIRE LOCALS FOR SOME JOBS
In terms of professionals, managers, executives and technicians (PMETs), the data showed that registered nurse was in top spot for occupations hard to fill by locals. There were 720 vacancies as at September, with the top reason cited being too much competition from other employers.
Enrolled/assistant nurse - with 650 vacancies - and software, web and multimedia developer were in second and third spot respectively. Major reasons for these positions being difficult to fill were unattractive pay, a preference for a shorter work week and a reluctance to do shift work for the former, and lacking necessary work experience for the latter, according to the data.
As for non-PMET positions, shop sales assistants, security guards and waiters were the top three occupations that were hard to fill by locals, MOM stated.
A human resource expert said companies need to offer more competitive pay packages to attract and retain local employees.
Mr Ian Grundy, marketing and communications head for Asia at Adecco, said: “Some companies are struggling to fill vacancies because they are not paying a competitive salary. In a tight labour market like Singapore, you have got to be paying a competitive salary, you have got to be giving good bonus, and you have got to be giving good vacation allowance.
“This is because job seekers have got lots of choice, and if a company is not giving them something that is really attractive, they are going to go somewhere else. And what is happening from that as a result is that we are seeing a lot of jobs left open over a long period time."
The proportion of vacancies unfilled for at least six months (41 per cent) and those hard to fill by locals (67 per cent) were broadly unchanged from a year ago, as the labour market remained tight, the ministry added. Mr Grundy expects job vacancies to continue to rise this year.
- CNA/kk/ms
- wong chee tat :)
Registered nurse was identified as the top PMET position to fill, while shop sales assistants took the position for non-PMET occupations, according to latest data from the Manpower Ministry.
SINGAPORE: The number of job vacancies rose to 67,400 as of September 2014 - an 8.9 per cent increase from 61,900 in 2013. Registered nurses and shop sales assistants were the toughest positions to fill by locals, according to latest data released by the Manpower Ministry (MOM) on Tuesday (Jan 27).
Of the vacancies, service and sales workers were in keen demand, representing 25 per cent of total vacancies, or 15,330 specifically. The positions included shop sales assistants, security guards and waiters, according to the press release.
In September 2014 itself, four in five of all vacancies were from the services industry. The bulk of vacancies came from community, social and personal services, healthcare and tertiary institutes, it added.
HARD TO HIRE LOCALS FOR SOME JOBS
In terms of professionals, managers, executives and technicians (PMETs), the data showed that registered nurse was in top spot for occupations hard to fill by locals. There were 720 vacancies as at September, with the top reason cited being too much competition from other employers.
Enrolled/assistant nurse - with 650 vacancies - and software, web and multimedia developer were in second and third spot respectively. Major reasons for these positions being difficult to fill were unattractive pay, a preference for a shorter work week and a reluctance to do shift work for the former, and lacking necessary work experience for the latter, according to the data.
As for non-PMET positions, shop sales assistants, security guards and waiters were the top three occupations that were hard to fill by locals, MOM stated.
A human resource expert said companies need to offer more competitive pay packages to attract and retain local employees.
Mr Ian Grundy, marketing and communications head for Asia at Adecco, said: “Some companies are struggling to fill vacancies because they are not paying a competitive salary. In a tight labour market like Singapore, you have got to be paying a competitive salary, you have got to be giving good bonus, and you have got to be giving good vacation allowance.
“This is because job seekers have got lots of choice, and if a company is not giving them something that is really attractive, they are going to go somewhere else. And what is happening from that as a result is that we are seeing a lot of jobs left open over a long period time."
The proportion of vacancies unfilled for at least six months (41 per cent) and those hard to fill by locals (67 per cent) were broadly unchanged from a year ago, as the labour market remained tight, the ministry added. Mr Grundy expects job vacancies to continue to rise this year.
- CNA/kk/ms
- wong chee tat :)
Resale prices of private homes fall further in December: SRPI
Resale prices of private homes fall further in December: SRPI
The overall resale prices of private homes fell 1.2 per cent on-month in December, with prices of homes in the central region leading the decline, according to the Singapore Residential Price Index flash estimates.
SINGAPORE: Resale prices of private homes fell again in December, according to Singapore Residential Price Index (SRPI) estimates released on Wednesday (Jan 28).
The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 1.2 per cent in December from the previous month. In November, prices fell 0.4 per cent from a month earlier.
Prices of homes in the central region, excluding small units, led the decline with a 1.7 per cent fall. Prices of homes in the non-central region, excluding small units, fell 0.8 per cent in December from November.
In contrast, prices of small units, which have a floor area of 506sqf or below, rose 0.5 per cent from the previous month.
- CNA/cy
- wong chee tat :)
The overall resale prices of private homes fell 1.2 per cent on-month in December, with prices of homes in the central region leading the decline, according to the Singapore Residential Price Index flash estimates.
SINGAPORE: Resale prices of private homes fell again in December, according to Singapore Residential Price Index (SRPI) estimates released on Wednesday (Jan 28).
The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 1.2 per cent in December from the previous month. In November, prices fell 0.4 per cent from a month earlier.
Prices of homes in the central region, excluding small units, led the decline with a 1.7 per cent fall. Prices of homes in the non-central region, excluding small units, fell 0.8 per cent in December from November.
In contrast, prices of small units, which have a floor area of 506sqf or below, rose 0.5 per cent from the previous month.
- CNA/cy
- wong chee tat :)
Sengkang temple site not meant for commercial columbarium: MND
Sengkang temple site not meant for commercial columbarium: MND
The Ministry of National Development is in discussions with Eternal Pure Land to see how the land can be restored to the original plan of a Chinese temple, Minister Khaw Boon Wan says.
SINGAPORE: The decision to award a site designated as Place of Worship to a company not affiliated to a religious organisation is a first for the Government, said National Development Minister Khaw Boon Wan in Parliament on Thursday (Jan 29).
Mr Khaw said the Ministry of National Development is "in discussion" with Eternal Pure Land to "ensure that the land is restored to the original plan of a Chinese temple". He was responding to questions posed by MPs Seng Han Thong, Lee Li Lian and Lee Bee Wah.
"We now understand that the winning tenderer for this site, Eternal Pure Land, is actually a private company without any religious affiliation. From what we know, the plan of the company is to run a commercial columbarium on the site," the minister said. "This is not in line with our plan for the Places of Worship site."
He added that many temples provide an incidental columbarium service for their members and devotees, and whether the eventual temple in Sengkang will provide such a service is a decision for the temple trustees to make.
Mr Khaw said a review to improve land tender process for Places of Worship was launched late last year, for example by tightening eligibility requirements for tenderers.
"We have been engaging religious groups on the review. The Sengkang temple case has highlighted the necessity for such a review. I will provide more information when the review is completed," he stated.
The current tender process allows for religious organisations and companies to participate. This is because some of the religious organisations form companies to enable and facilitate their ownership and development of such sites.
"This has been the practice since 1991 when State Lands were put up for tenders for Places of Worship use. The assumption is that only companies affiliated to religious organisations would participate in such tenders," he added. Since 1991, seven sites have been won by companies, all affiliated to religious organisations.
Previously, property owners in Sengkang were up in arms over plans to build a Buddhist temple with columbarium services near their new homes, despite measures to mitigate possible inconveniences for residents being put in place.
The Housing and Development Board and Urban Redevelopment Authority indicated that plans for a columbarium at a Chinese temple planned in Sengkang can go ahead, despite objections from residents.
- CNA/kk
- wong chee tat :)
The Ministry of National Development is in discussions with Eternal Pure Land to see how the land can be restored to the original plan of a Chinese temple, Minister Khaw Boon Wan says.
SINGAPORE: The decision to award a site designated as Place of Worship to a company not affiliated to a religious organisation is a first for the Government, said National Development Minister Khaw Boon Wan in Parliament on Thursday (Jan 29).
Mr Khaw said the Ministry of National Development is "in discussion" with Eternal Pure Land to "ensure that the land is restored to the original plan of a Chinese temple". He was responding to questions posed by MPs Seng Han Thong, Lee Li Lian and Lee Bee Wah.
"We now understand that the winning tenderer for this site, Eternal Pure Land, is actually a private company without any religious affiliation. From what we know, the plan of the company is to run a commercial columbarium on the site," the minister said. "This is not in line with our plan for the Places of Worship site."
He added that many temples provide an incidental columbarium service for their members and devotees, and whether the eventual temple in Sengkang will provide such a service is a decision for the temple trustees to make.
Mr Khaw said a review to improve land tender process for Places of Worship was launched late last year, for example by tightening eligibility requirements for tenderers.
"We have been engaging religious groups on the review. The Sengkang temple case has highlighted the necessity for such a review. I will provide more information when the review is completed," he stated.
The current tender process allows for religious organisations and companies to participate. This is because some of the religious organisations form companies to enable and facilitate their ownership and development of such sites.
"This has been the practice since 1991 when State Lands were put up for tenders for Places of Worship use. The assumption is that only companies affiliated to religious organisations would participate in such tenders," he added. Since 1991, seven sites have been won by companies, all affiliated to religious organisations.
Previously, property owners in Sengkang were up in arms over plans to build a Buddhist temple with columbarium services near their new homes, despite measures to mitigate possible inconveniences for residents being put in place.
The Housing and Development Board and Urban Redevelopment Authority indicated that plans for a columbarium at a Chinese temple planned in Sengkang can go ahead, despite objections from residents.
- CNA/kk
- wong chee tat :)
Nearly 14,700 foreign spouses on long-term visit passes in Singapore
Nearly 14,700 foreign spouses on long-term visit passes in Singapore
Deputy Prime Minister Teo Chee Hean gave this update, after NCMP Gerald Giam asked in Parliament how many foreign spouses of Singapore citizens have social visit passes, Long Term Visit Passes and an immigration status.
SINGAPORE: As of Dec 31, 2014, there were 14,694 foreign spouses in Singapore on a Long Term Visit Pass (LTVP) or a Long Term Visit Pass-Plus (LTVP+).
Deputy Prime Minister Teo Chee Hean gave this update in written parliamentary reply on Thursday (Jan 29) to a query from Non-Constituency Member of Parliament Gerald Giam. Mr Giam had asked about the number of foreign spouses who have social visit passes, LTVP and an immigration status which makes them ineligible to work in Singapore.
Mr Teo, who is also the Home Affairs Minister and Coordinating Minister for National Security, said details on the number of foreign spouses who enter Singapore as social visitors is not available. He said the Immigration and Checkpoints Authority does not track this statistic.
- CNA/xk
- wong chee tat :)
Deputy Prime Minister Teo Chee Hean gave this update, after NCMP Gerald Giam asked in Parliament how many foreign spouses of Singapore citizens have social visit passes, Long Term Visit Passes and an immigration status.
SINGAPORE: As of Dec 31, 2014, there were 14,694 foreign spouses in Singapore on a Long Term Visit Pass (LTVP) or a Long Term Visit Pass-Plus (LTVP+).
Deputy Prime Minister Teo Chee Hean gave this update in written parliamentary reply on Thursday (Jan 29) to a query from Non-Constituency Member of Parliament Gerald Giam. Mr Giam had asked about the number of foreign spouses who have social visit passes, LTVP and an immigration status which makes them ineligible to work in Singapore.
Mr Teo, who is also the Home Affairs Minister and Coordinating Minister for National Security, said details on the number of foreign spouses who enter Singapore as social visitors is not available. He said the Immigration and Checkpoints Authority does not track this statistic.
- CNA/xk
- wong chee tat :)
Thoughts for last week
It was quite a busy week for me. Lots of things to rush out.
- wong chee tat :)
Wednesday, January 28, 2015
System Status: File Server
System Status: File Server
One of the file servers is getting filled up. Some of the data (approx 10GB) will be moved another file server to free up more space. Some of the older data will be cleaned out too.
Currently planning to get newer and bigger capacity hard drives. So, watch this space.... new changes coming. :)
- wong chee tat :)
One of the file servers is getting filled up. Some of the data (approx 10GB) will be moved another file server to free up more space. Some of the older data will be cleaned out too.
Currently planning to get newer and bigger capacity hard drives. So, watch this space.... new changes coming. :)
- wong chee tat :)
Tuesday, January 27, 2015
Monday, January 26, 2015
Sunday, January 25, 2015
System Status: Fan Maintenance
System Status: Fan Maintenance
Fan cleaned! ^^
Let me post some pics of the fan with plenty of dust bunnies later on....
- wong chee tat :)
Fan cleaned! ^^
Let me post some pics of the fan with plenty of dust bunnies later on....
- wong chee tat :)
Saturday, January 24, 2015
Friday, January 23, 2015
Rental data to be released on quarterly basis
Rental data to be released on quarterly basis
The move comes on the back of calls from businesses for greater transparency in the rental market. This has led to the Singapore Business Federation introducing the Fair Tenancy Framework, which includes the release of clearer rental data as an initiative.
SINGAPORE: Businesses will get greater clarity on trends in Singapore's rental market. Starting on Thursday (Jan 22), more detailed data on rents for retail, office and industrial space will be released by the Government every quarter.
The move comes on the back of calls from businesses for greater transparency in the rental market. Earlier this week, the Singapore Business Federation (SBF) introduced the Fair Tenancy Framework, which includes the release of clearer rental data as an initiative.
Many businesses have complained of soaring rental rates imposed by landlords, which threaten to heighten operating costs. With the new move, the public can now view rental data at the 25th, 50th, and 75th percentile by floor level and area.
For instance, if one wants to find out the monthly unit rent for retail space at the 25th percentile in District 9, which includes the Orchard area, one can now look at what trends are like for basement units that are 30 square metres and below. Previously, rental data was only released at the 50th percentile and by street name, excluding information by floor level and area.
Ms Cynthia Phua, chairman of the rental practices working group at SBF, said: ”Having the 25th percentile and the 75th percentile - that part in itself will give a very good range for a tenant who is assessing the rental for that unit itself, whether they are transacting at the upper range of the rental range, or the lower range."
The new data can be accessed on the websites of the Urban Redevelopment Authority (URA) and industrial landlord JTC Corporation.
The Ministry of Trade and Industry said the additional details covering floor level and unit size will help businesses make more informed decisions before signing a contract.
Minister of State for Trade and Industry Teo Ser Luck said: "Feedback from businesses is that we have to be a little bit more specific. Then the question is: How specific we want to go?
"If we want to be too specific, say, for example by every single building, we have a few considerations. Where do you get the data? And whether in obtaining the source of data, whether you actually intrude into the privacy or even ... contravene the data privacy law."
Depending on the response to the new set of data, further adjustments or additional information may be included in the future.
- CNA/ac/dl
- wong chee tat :)
The move comes on the back of calls from businesses for greater transparency in the rental market. This has led to the Singapore Business Federation introducing the Fair Tenancy Framework, which includes the release of clearer rental data as an initiative.
SINGAPORE: Businesses will get greater clarity on trends in Singapore's rental market. Starting on Thursday (Jan 22), more detailed data on rents for retail, office and industrial space will be released by the Government every quarter.
The move comes on the back of calls from businesses for greater transparency in the rental market. Earlier this week, the Singapore Business Federation (SBF) introduced the Fair Tenancy Framework, which includes the release of clearer rental data as an initiative.
Many businesses have complained of soaring rental rates imposed by landlords, which threaten to heighten operating costs. With the new move, the public can now view rental data at the 25th, 50th, and 75th percentile by floor level and area.
For instance, if one wants to find out the monthly unit rent for retail space at the 25th percentile in District 9, which includes the Orchard area, one can now look at what trends are like for basement units that are 30 square metres and below. Previously, rental data was only released at the 50th percentile and by street name, excluding information by floor level and area.
Ms Cynthia Phua, chairman of the rental practices working group at SBF, said: ”Having the 25th percentile and the 75th percentile - that part in itself will give a very good range for a tenant who is assessing the rental for that unit itself, whether they are transacting at the upper range of the rental range, or the lower range."
The new data can be accessed on the websites of the Urban Redevelopment Authority (URA) and industrial landlord JTC Corporation.
The Ministry of Trade and Industry said the additional details covering floor level and unit size will help businesses make more informed decisions before signing a contract.
Minister of State for Trade and Industry Teo Ser Luck said: "Feedback from businesses is that we have to be a little bit more specific. Then the question is: How specific we want to go?
"If we want to be too specific, say, for example by every single building, we have a few considerations. Where do you get the data? And whether in obtaining the source of data, whether you actually intrude into the privacy or even ... contravene the data privacy law."
Depending on the response to the new set of data, further adjustments or additional information may be included in the future.
- CNA/ac/dl
- wong chee tat :)
Keppel Corp launches bid to take Keppel Land private
Keppel Corp launches bid to take Keppel Land private
Keppel Corp, the world's largest maker of offshore oil rigs, currently owns 54.6 per cent of Kepland, a major Singapore property developer.
SINGAPORE: Keppel Corporation on Friday (Jan 23) launched a voluntary unconditional cash offer for all the remaining shares of subsidiary Keppel Land in a deal that values its property arm at S$7.1 billion.
Keppel Corp, the world's largest maker of offshore oil rigs, currently owns 54.6 per cent of Kepland, a major Singapore property developer.
Keppel Corp said it is offering a base offer price of S$4.38 for each Keppel Land share. A higher offer price of S$4.60 per share will be paid if Keppel Corp is entitled to exercise its rights of compulsory acquisition.
Explaining the rationale for the offer, Keppel Corp CEO Loh Chin Hua said Keppel Corp wants to be a strong conglomerate with sizeable contributions from its three core businesses. "This is a sound and well-timed investment in a business which has been integral to Keppel Corp and is in core markets like Singapore, China, Indonesia and Vietnam - where we hold a long-term positive view," he added.
Kepland shares were last traded at S$3.65.
- CNA/ac
- wong chee tat :)
Keppel Corp, the world's largest maker of offshore oil rigs, currently owns 54.6 per cent of Kepland, a major Singapore property developer.
SINGAPORE: Keppel Corporation on Friday (Jan 23) launched a voluntary unconditional cash offer for all the remaining shares of subsidiary Keppel Land in a deal that values its property arm at S$7.1 billion.
Keppel Corp, the world's largest maker of offshore oil rigs, currently owns 54.6 per cent of Kepland, a major Singapore property developer.
Keppel Corp said it is offering a base offer price of S$4.38 for each Keppel Land share. A higher offer price of S$4.60 per share will be paid if Keppel Corp is entitled to exercise its rights of compulsory acquisition.
Explaining the rationale for the offer, Keppel Corp CEO Loh Chin Hua said Keppel Corp wants to be a strong conglomerate with sizeable contributions from its three core businesses. "This is a sound and well-timed investment in a business which has been integral to Keppel Corp and is in core markets like Singapore, China, Indonesia and Vietnam - where we hold a long-term positive view," he added.
Kepland shares were last traded at S$3.65.
- CNA/ac
- wong chee tat :)
Role of CFO becoming more complex: Industry watchers
Role of CFO becoming more complex: Industry watchers
Amid a changing business environment, the role of a chief financial officer has become more complex. Industry watchers say that CFOs are increasingly expected to be more involved in strategy and planning, going beyond traditional functions of governance and compliance.
SINGAPORE: Amid a changing business environment, the role of a chief financial officer has become more complex. Mr JK Low has been a chief financial officer for about 12 years and is currently in that post for Viking Offshore and Marine for the last five years.
In recent months, declining oil prices and currency volatility have kept him busy as he tries to manage rising domestic costs and productivity demands. He said an increasingly complex business environment had made his role as CFO more challenging.
"You need to navigate beyond what you do traditionally - making sure books are well kept and making sure governance and controls are in place - and take advantage of this to help the business and leadership team to move forward," added Mr Low.
"The CFO is in a very interesting position where he gets to see the overall financials of the company, he knows what are the resource capacity available to the company, and they need to make use of this and provide this information to the senior leadership team."
According to a recent study by KPMG in a recent survey on Asia Pacific CEOs, executives in the post are increasingly expected to be more involved in strategic planning - especially since they have a deeper understanding of financial opportunities and risks.
Mr Martyn Vans Wensveen, global leader of financial management at KPMG in Singapore, said: "More and more CFOs are becoming business partners and it is in a way challenging the business plans and viability of the investments the business is making in the future ... It is about being that strategic thinker who has an overview of the business and can help the CEO with making good decisions for example which businesses to invest in, which markets to go into and which technology platforms they should invest in."
With financial and regulatory requirements becoming increasingly complex, firms are expected to be accountable to even more stakeholders - including internal management, regulators, investors and even the public. Industry watchers said that CFOs are assuming more responsibilities in ensuring timely and consistent communication with each respective group.
Mr Harold Woo, president of the Investor Relations Professionals Association (Singapore), said: "Our regime is one of comply or explain, so that puts a lot of onus on the CFO as the responsible person to make sure that corporate governance is carried out correctly and with the right disclosure and transparency ... The advocate of integrated reporting puts onus on connecting all the dots of how a company creates value for its stakeholders and how risks are mitigated."
Even as their roles expand, industry watchers said new technology can help CFOs better plan ahead. Greater availability of financial data can also help provide insights for future business opportunities.
- CNA/ac
- wong chee tat :)
Amid a changing business environment, the role of a chief financial officer has become more complex. Industry watchers say that CFOs are increasingly expected to be more involved in strategy and planning, going beyond traditional functions of governance and compliance.
SINGAPORE: Amid a changing business environment, the role of a chief financial officer has become more complex. Mr JK Low has been a chief financial officer for about 12 years and is currently in that post for Viking Offshore and Marine for the last five years.
In recent months, declining oil prices and currency volatility have kept him busy as he tries to manage rising domestic costs and productivity demands. He said an increasingly complex business environment had made his role as CFO more challenging.
"You need to navigate beyond what you do traditionally - making sure books are well kept and making sure governance and controls are in place - and take advantage of this to help the business and leadership team to move forward," added Mr Low.
"The CFO is in a very interesting position where he gets to see the overall financials of the company, he knows what are the resource capacity available to the company, and they need to make use of this and provide this information to the senior leadership team."
According to a recent study by KPMG in a recent survey on Asia Pacific CEOs, executives in the post are increasingly expected to be more involved in strategic planning - especially since they have a deeper understanding of financial opportunities and risks.
Mr Martyn Vans Wensveen, global leader of financial management at KPMG in Singapore, said: "More and more CFOs are becoming business partners and it is in a way challenging the business plans and viability of the investments the business is making in the future ... It is about being that strategic thinker who has an overview of the business and can help the CEO with making good decisions for example which businesses to invest in, which markets to go into and which technology platforms they should invest in."
With financial and regulatory requirements becoming increasingly complex, firms are expected to be accountable to even more stakeholders - including internal management, regulators, investors and even the public. Industry watchers said that CFOs are assuming more responsibilities in ensuring timely and consistent communication with each respective group.
Mr Harold Woo, president of the Investor Relations Professionals Association (Singapore), said: "Our regime is one of comply or explain, so that puts a lot of onus on the CFO as the responsible person to make sure that corporate governance is carried out correctly and with the right disclosure and transparency ... The advocate of integrated reporting puts onus on connecting all the dots of how a company creates value for its stakeholders and how risks are mitigated."
Even as their roles expand, industry watchers said new technology can help CFOs better plan ahead. Greater availability of financial data can also help provide insights for future business opportunities.
- CNA/ac
- wong chee tat :)
7,710 workers laid off in first 3 quarters of 2014
7,710 workers laid off in first 3 quarters of 2014
TODAY reports: The figure is an increase of about 500 from the same period a year ago, and is mainly due to more workers being laid off from the services sector, the Labour Movement says.
SINGAPORE: A total of 7,710 workers were laid off in the first three quarters of last year, about 500 more than in the same period in the year before, said the Labour Movement on Thursday (Jan 15), citing past figures from the Manpower Ministry.
The increase was due to more workers being laid off from the services sector, the Labour Movement noted.
For unionised sectors, 2,212 workers lost their jobs last year – 27 per cent lower than in 2013. Two-thirds of them came from the manufacturing sector.
Reasons for retrenchment include high cost, poor business and ongoing restructuring, which resulted in eight companies relocating their operations out of Singapore, to countries such as Thailand, Malaysia and China.
The Labour Movement expects about 300 workers from the chemical and electronics sectors to be retrenched in the first quarter of this year.
Unionised workers saw a wage increase of about 4.1 per cent last year, lower than the 4.63 per cent recorded in 2013. They will also receive an average three months’ bonus in 2014, down from 3.16 months the year before.
About 60 per cent of unionised companies paid at least S$60 built-in wage increases to workers earning S$1,000 and below. Companies that failed to do so cited poor business and restructuring as reasons.
In 2014, the number of workers on a shorter work week plunged from close to 5,793 to 1,323. The Labour Movement attributed this to a lack of orders and a slowdown in business. The majority were from companies producing semiconductor and electronic products and components.
-TODAY/cy
- wong chee tat :)
TODAY reports: The figure is an increase of about 500 from the same period a year ago, and is mainly due to more workers being laid off from the services sector, the Labour Movement says.
SINGAPORE: A total of 7,710 workers were laid off in the first three quarters of last year, about 500 more than in the same period in the year before, said the Labour Movement on Thursday (Jan 15), citing past figures from the Manpower Ministry.
The increase was due to more workers being laid off from the services sector, the Labour Movement noted.
For unionised sectors, 2,212 workers lost their jobs last year – 27 per cent lower than in 2013. Two-thirds of them came from the manufacturing sector.
Reasons for retrenchment include high cost, poor business and ongoing restructuring, which resulted in eight companies relocating their operations out of Singapore, to countries such as Thailand, Malaysia and China.
The Labour Movement expects about 300 workers from the chemical and electronics sectors to be retrenched in the first quarter of this year.
Unionised workers saw a wage increase of about 4.1 per cent last year, lower than the 4.63 per cent recorded in 2013. They will also receive an average three months’ bonus in 2014, down from 3.16 months the year before.
About 60 per cent of unionised companies paid at least S$60 built-in wage increases to workers earning S$1,000 and below. Companies that failed to do so cited poor business and restructuring as reasons.
In 2014, the number of workers on a shorter work week plunged from close to 5,793 to 1,323. The Labour Movement attributed this to a lack of orders and a slowdown in business. The majority were from companies producing semiconductor and electronic products and components.
-TODAY/cy
- wong chee tat :)
Taking a 3rd HDB loan? Pay market rate, says Khaw
Taking a 3rd HDB loan? Pay market rate, says Khaw
To discourage 'churning' of resale flats, HDB will grant a third loan only under exceptional circumstances, says Minister for National Development Khaw Boon Wan.
SINGAPORE: The Housing and Developmental Board (HDB) may grant a third housing loan to home owners - but only in exceptional instances, and at the market rate, said Minister for National Development Khaw Boon Wan on Tuesday (Jan 21).
In a Parliamentary question, MP Zainal Sapari had asked about HDB’s rationale for imposing a higher interest rate for home owners who take a third housing loan. In response, Mr Khaw said HDB will grant a third loan only under exceptional circumstances.
“Typically, this is for those who are in urgent need of housing, but due to poor credit records, are unable to secure a bank loan even though they have a steady income. Providing a third housing loan at a higher rate is to discourage churning of resale flats,” he added.
However, HDB may help with a concessionary rate loan for genuine hardship cases that merit such consideration, he said.
HDB currently provides up to two concessionary rate loans to eligible flat buyers, with interest rate at below market rates over the long term.
- CNA/ct
- wong chee tat :)
To discourage 'churning' of resale flats, HDB will grant a third loan only under exceptional circumstances, says Minister for National Development Khaw Boon Wan.
SINGAPORE: The Housing and Developmental Board (HDB) may grant a third housing loan to home owners - but only in exceptional instances, and at the market rate, said Minister for National Development Khaw Boon Wan on Tuesday (Jan 21).
In a Parliamentary question, MP Zainal Sapari had asked about HDB’s rationale for imposing a higher interest rate for home owners who take a third housing loan. In response, Mr Khaw said HDB will grant a third loan only under exceptional circumstances.
“Typically, this is for those who are in urgent need of housing, but due to poor credit records, are unable to secure a bank loan even though they have a steady income. Providing a third housing loan at a higher rate is to discourage churning of resale flats,” he added.
However, HDB may help with a concessionary rate loan for genuine hardship cases that merit such consideration, he said.
HDB currently provides up to two concessionary rate loans to eligible flat buyers, with interest rate at below market rates over the long term.
- CNA/ct
- wong chee tat :)
Work injury compensation limits under review: MOM
Work injury compensation limits under review: MOM
The Act, which offers compensation for any injury arising in the course of employment, has had its compensation limit increased twice since it was expanded in 2008, said Manpower Minister Tan Chuan-Jin.
SINGAPORE: Compensation limits under the Work Injury Compensation Act (WICA) are currently being reviewed, said Manpower Minister Tan Chuan-Jin.
The Ministry of Manpower conducts regular three-yearly reviews on the compensation limits to ensure pay-outs under the scheme remain relevant and to account for changes in nominal median wages and healthcare costs, he said on Tuesday (Jan 20) in response to a Parliamentary question by MP K Karthikeyan.
"We are in the midst of our three-yearly review of the compensation limits and will announce more details once the review is completed," he said.
The Act, which offers compensation for any injury arising in the course of employment, has had its compensation limit increased twice since it was expanded to all employees in 2008. The last increment was made in 2012, added Mr Tan.
- CNA/ek
- wong chee tat :)
The Act, which offers compensation for any injury arising in the course of employment, has had its compensation limit increased twice since it was expanded in 2008, said Manpower Minister Tan Chuan-Jin.
SINGAPORE: Compensation limits under the Work Injury Compensation Act (WICA) are currently being reviewed, said Manpower Minister Tan Chuan-Jin.
The Ministry of Manpower conducts regular three-yearly reviews on the compensation limits to ensure pay-outs under the scheme remain relevant and to account for changes in nominal median wages and healthcare costs, he said on Tuesday (Jan 20) in response to a Parliamentary question by MP K Karthikeyan.
"We are in the midst of our three-yearly review of the compensation limits and will announce more details once the review is completed," he said.
The Act, which offers compensation for any injury arising in the course of employment, has had its compensation limit increased twice since it was expanded to all employees in 2008. The last increment was made in 2012, added Mr Tan.
- CNA/ek
- wong chee tat :)
More working spaces for start-ups in Singapore to be built
More working spaces for start-ups in Singapore to be built
JTC Corporation will be creating more space to groom Singapore's start-up companies under its LaunchPad initiative. It will add three new blocks of buildings in one-north to house 250 start-ups.
SINGAPORE: Industrial estate manager JTC Corporation will be creating more space to groom Singapore's start-up companies under its LaunchPad initiative. Three new blocks of buildings will be built in one-north to house 250 start-ups.
This adds 12,000 square metres of space to three existing start-up blocks, which were officially launched by Prime Minister Lee Hsien Loong on Friday (Jan 23).
The next 'LaunchPad' will be in the vicinity of JTC's CleanTech Park, next to the Nanyang Technological University.
The idea is to promote collaboration between start-ups and varsity research experts.
Commenting on the 'LaunchPad' initiative, Mr Lee said the Government is trying to help entrepreneurs have a hassle-free and easier time starting businesses. He said start-up friendly environments facilitate connections between like-minded individuals and companies.
Mr Lee said entrepreneurs keep the economy productive and vibrant by providing jobs and opportunities, and described 'LaunchPad's' opening as 'another major milestone' for the local start-up scene.
90 per cent of the three existing 'LaunchPad' blocks have been taken up by startups, incubators and Venture Capitalists. By 2017, 'LaunchPad' will be able to house up to 750 start-ups.
- CNA/dl
- wong chee tat ):
JTC Corporation will be creating more space to groom Singapore's start-up companies under its LaunchPad initiative. It will add three new blocks of buildings in one-north to house 250 start-ups.
SINGAPORE: Industrial estate manager JTC Corporation will be creating more space to groom Singapore's start-up companies under its LaunchPad initiative. Three new blocks of buildings will be built in one-north to house 250 start-ups.
This adds 12,000 square metres of space to three existing start-up blocks, which were officially launched by Prime Minister Lee Hsien Loong on Friday (Jan 23).
The next 'LaunchPad' will be in the vicinity of JTC's CleanTech Park, next to the Nanyang Technological University.
The idea is to promote collaboration between start-ups and varsity research experts.
Commenting on the 'LaunchPad' initiative, Mr Lee said the Government is trying to help entrepreneurs have a hassle-free and easier time starting businesses. He said start-up friendly environments facilitate connections between like-minded individuals and companies.
Mr Lee said entrepreneurs keep the economy productive and vibrant by providing jobs and opportunities, and described 'LaunchPad's' opening as 'another major milestone' for the local start-up scene.
90 per cent of the three existing 'LaunchPad' blocks have been taken up by startups, incubators and Venture Capitalists. By 2017, 'LaunchPad' will be able to house up to 750 start-ups.
- CNA/dl
- wong chee tat ):
Opportunity ... Opportunities
Thoughts:
Opportunity ... Opportunities ... Lots and lots of them coming. Do you see that?
- wong chee tat :)
Opportunity ... Opportunities ... Lots and lots of them coming. Do you see that?
- wong chee tat :)
Thursday, January 22, 2015
Scheduled Maintenance - POSB
Scheduled Maintenance
We are constantly upgrading our systems to bring you a more pleasant banking experience. During the mentioned period of scheduled maintenance, some of the services will not be available:
iBanking
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
24 Jan 2015
|
1400hrs to 0000hrs
|
System Maintenance
- Online Equity Trading |
24 Jan 2015
|
1400hrs to 0000hrs
|
System Maintenance
- iB trading services |
24 Jan 2015
|
1515hrs to 1520hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
25 Jan 2015
|
0000hrs to 1340hrs
|
System Maintenance
- Online Equity Trading |
25 Jan 2015
|
0000hrs to 1200hrs
|
System Maintenance
- iB trading services |
25 Jan 2015
|
0700hrs to 0705hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
08 Feb 2015
|
0000hrs to 0900hrs
|
System Maintenance
- Token registration service |
- wong chee tat :)
Stop! RRA! Rough Road Ahead!
Caution! There are some rough roads ahead.
Stop! RRA! Rough Road Ahead! So we should slow down and be careful!
Okay, I feeling kinda down and I am still kinda sickish.... That is not good. Hope everything turns out fine.
- wong chee tat :)
Wednesday, January 21, 2015
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
weather and water
Gotta to drink more water as the weather is hot recently and I'm also feeling sickish too.
- wong chee tat :)
- wong chee tat :)
Tuesday, January 20, 2015
Monday, January 19, 2015
Sunday, January 18, 2015
Hot weather
Bright and sunny. Good for outdoor activities. But I feeling sickish this week.
I need to have a good rest. Good night!
- wong chee tat :)
I need to have a good rest. Good night!
- wong chee tat :)
Thoughts for this week
Thoughts for this week:
To simplify into a few words: Busy. Confrontational. Feeling sickish.
Kinda feeling sucky.
I was searching for some images and came across this comic and I decided to make some changes to the cartoon. Original cartoon below.
[Original link: http://independentaudit.com/confrontational-audit-committee-2/ ]
Hope everything goes well next week!
- wong chee tat :)
To simplify into a few words: Busy. Confrontational. Feeling sickish.
Kinda feeling sucky.
I was searching for some images and came across this comic and I decided to make some changes to the cartoon. Original cartoon below.
[Original link: http://independentaudit.com/confrontational-audit-committee-2/ ]
Hope everything goes well next week!
- wong chee tat :)
Saturday, January 17, 2015
Friday, January 16, 2015
Weather
Hot and sunny today!
And these few days, I'm coughing on & off. Why?
Chinese New Year is coming and I don't wanna fall sick.
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Thursday, January 15, 2015
Scheduled Maintenance - POSB
Scheduled Maintenance
We are constantly upgrading our systems to bring you a more pleasant banking experience. During the mentioned period of scheduled maintenance, some of the services will not be available:
iBanking
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
17 Jan 2015
|
1600hrs to 0000hrs
|
System Maintenance
- Online Equity Trading |
17 Jan 2015 to
18 Jan 2015 |
2300hrs to 0245hrs
|
System Maintenance
- Avaloq system |
18 Jan 2015
|
0000hrs to 1200hrs
|
System Maintenance
- Online Equity Trading |
18 Jan 2015
|
0130hrs to 0145hrs
|
System Maintenance
- IB Fund Transfer / IBR (Portfolio Enquiry) |
18 Jan 2015
|
0130hrs to 0445hrs
|
System Maintenance
- Online Equity Trading |
iB - Trading Services
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
17 Jan 2015
|
1600hrs to 0000hrs
|
System Maintenance
- iB trading services |
18 Jan 2015
|
0000hrs to 1200hrs
|
System Maintenance
- iB trading services |
Debit and Credit Cards
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
18 Jan 2015
|
0000hrs to 0800hrs
|
Downtime
- online transactions requiring One Time Password (OTP) |
- wong chee tat :)
Wednesday, January 14, 2015
Tuesday, January 13, 2015
Monday, January 12, 2015
Sunday, January 11, 2015
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Saturday, January 10, 2015
System Status: File Server Up and Running
System Status: Urgent File Server maintenance
The faulty battery is replaced. The file server is up and running!
- wong chee tat :)
The faulty battery is replaced. The file server is up and running!
- wong chee tat :)
China's Lost Generation Finds Itself in Ukraine
The latest viral story in China is the rags-to-riches tale of a young man named Mei Aicai. A working class high-school graduate who scored abysmally on China's college entrance exam, Mei now owns his own business, claims title to three-quarters of an acre of land, lives in a split-level house, and is married to an eighteen-year-old who -- the Chinese internet universally agrees -- looks like a model. One more thing: Mei achieved all his good fortune after leaving China for Ukraine.
For the Chinese public, the moral of Mei's story is clear: for anyone who lacks family connections, elite academic credentials, and a big bank account, it's now easier to achieve upward mobility in Kiev than Shanghai.
It's not hard to imagine what would have happened to Mei, with his modest background and limited education, had he remained in China. Faced with a slowing economy, high housing prices, widening income inequality and a tough job market for college graduates, millions of young Chinese now feel stuck on the lower-middle rungs of their country's ladder of success.
This widespread feeling has coalesced into an identity known asdiaosi. The term is commonly translated into English as “loser” -- although its most literal translation would be a vulgar reference to the male anatomy -- and was originally used to describe young, under-employed internet-obsessed males. But over the past five years, it has escaped its derogatory connotations, transforming into a more pliable identity available to anyone who wants to distance himself from China’s money- and status-obsessed culture.
For some people in China, such distancing is a voluntary pastime. But for Mei's many peers, it's not a choice at all. For them, the diaosi identity is an expression of their straitened economic circumstances. When the Market and Media Research Center at Peking University, China’s top academic institution, recently leased a nationwide online survey of China’s working class, it was no coincidence that it bore the title “The 2013 Diaosi Living Conditions Report.” Sixty two percent of the 213,795 working class people who responded to the Peking University survey identitied as losers.
The men ranged in age from 21–25, women from 26–30 (though the diaosi identity more commonly attaches to males). They average $471 per month in income (by comparison, Beijing’s average monthly income in 2013 was $936). They generally can't afford to own their own homes, in part because 71 percent give money to their parents on a monthly basis (averaging $173, or roughly one-third of their monthly income).
The consequences are rough, especially for men, who are widely expected to own their own homes before marriage. Perhaps the least surprising finding of the Peking University survey is that half of all self-identified diaosi are single, and 72 percent say they are unhappy with their lives.
Enter Mei Aicai. His Ukrainian success story first appeared on Chinese news portals on December 8, and it was almost immediately characterized online as a “diaosi counter-attack.” Mei was praised for avoiding the diaosi fate by taking up residence in a place where his natural talents weren’t suppressed by China’s academic culture (and its obsession with testing), and an expectation that he had proper connections (and the taint of corruption so often associated with them).
In an interview with one news outlet, Mei also suggested that China suffered by comparison with Ukraine not just economically, but culturally. Mei emphasized that Ukrainian women, unlike their Chinese counterparts, marry for love, rather than money. That sexist comment has been echoed for days in online comments by young male diaosi frustrated by China’s materialistic dating culture.
Diaosi aren’t politically organized, and they don’t represent a coherent social movement. But they are representative of the diminished expectations that many young Chinese have as China enters a prolonged period of slower growth and rigid income inequality. If the Chinese government truly hopes to reform its economy, it’ll need to find a way to make sure that they don’t continue to feel like losers in a game rigged against them.
- wong chee tat :)
Scheduled Maintenance - POSB
Scheduled Maintenance
We are constantly upgrading our systems to bring you a more pleasant banking experience. During the mentioned period of scheduled maintenance, some of the services will not be available:
iBanking
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
10 Jan 2015
|
2320hrs to 0000hrs
|
System Maintenance
- Online Equity Trading |
11 Jan 2015
|
0040hrs to 0045hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
11 Jan 2015
|
0535hrs to 0540hrs
|
System Maintenance
- MCSA Funds Transfer, and Portfolio Enquiry |
11 Jan 2015
|
0000hrs to 0920
|
System Maintenance
- Online Equity Trading |
11 Jan 2015
|
0135hrs to 0320hrs
|
System Maintenance
- Credit Card Payment New: Pay Other Banks' Visa and Mastercard bills New: Make Payment, Add Payee - Send Money to an Overseas Visa Card (Visa Personal Payments) New: Send Money, Add Beneficiary |
11 Jan 2015
|
000hrs to 0200hrs
|
System Maintenance
- Account Opening |
iB - Trading Services
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
13 Dec 2014
|
1000hrs to 2359hrs
|
System Maintenance
- iB trading service |
14 Dec 2014
|
0000hrs to 2200hrs
|
System Maintenance
- iB trading services |
Token Registration
| ||
|---|---|---|
Date
|
Maintenance Period
|
Services under Maintenance
|
| 12 Dec 2014 | 0100hrs to 0200hrs | downtime |
- wong chee tat :)
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