COE prices nearing $100,000!

Today, the COE price for the Open Category went sky high to $93,000 which works out to at whopping $9,300 license fee just to have the vehicle on the road and mind you, the prices are sky rocketing...

So what I would suggest to the Singapore Government is make the best of the situation and use a Robin Hood scenario where there are sure to make extra income.

For example, have just one COE rate for ALL Cars. Cars below 2000cc pays the same rate. Gas guzzlers or Dirty Technology Vehicles exceeding that (Sports Cars etc) must pay a hefty quantum of one fold for every 1000cc exceed 2000cc or part there of. So for example, a Mercedes 320 would have to pay 4 times the price of the normal COE and they would have their COE limited to 5 years use only, for 'health and safety' plus 'environmental issue' purposes. That would work out to as much as $2Billion or more worth of road duties for the car market. And limit the ownership to only Singapore Citizens. It's our privilege  If they lease it out.. their taichi lor. Foreigners can take the cab.

The Public Transport need a rework. Bus operators cannot have more than 500 buses. Thus the need to have more bus companies plying the route and without the need of a huge monopoly. Same principle applies to Taxis. Bring back the old Comfort Owner Driver scheme to help taxi drivers out of poverty.

Allow Taxi Drivers to OWN their own Taxi Cabs. With the existing system, these cabs are limited to ONE DRIVER to One Lifetime of Free COE and Taxes, to relieve the current costs of rental etc. The Open Category is a huge measuring tape of the current cost of taxis and our fares. Each cab is rented out at $120/day or $306,000 over a lifetime of 7 years. This is more than the worth of a 4 room HDB Flat. COE is the huge cost in that chunk. So a Singapore Taxi Driver having driven 5 years or more, can apply for ONE FREE COE Taxi Cab Permit. No Parf or other fees. OMV of a Cab is about $25,000 so the cabby can pass down these savings to your lower fare of say $2.00 flag off? By constricting these means, we have remodelled the public transport by adding 10,000 more taxis and more buses on the street.

Oh yes.. limiting the current 50,000 buses on the street will lower the transport cost, without the need of COE. Savings passed on to the commuters and more income to the Government since fares are GST Chargeable.  That is also the same for the cabbies... so no more claims of $7,000 net earnings if not substantiated by the taxi meter.

In the end, we as citizens, save more money and the PAP...get more Pay! Which then when near elections , we get the freebies back again. Tax the foreign talents and the rich silly.. not us....nanti the vote lari!

American Express - Don't Leave Home Without It

That is the only think I could remember with AMEX Card and since 2000, they have so many co-branded cards or credit cards issued by banks and even Prepaid labels by individual operators. It's a sign of prestige and when it is co-branded with EZ-Link, it's more value for money since the actual cost of having such a card is less than $2 plus registered post fee.

The Imagine AMEX EZ-Link Card is an excellent choice for those who want to save up money  but since the exchange rates, interest rates that are super low and that of hidden fees by the local banks (yes.. I am talking about the $2 monthly charge plus other hidden fees)

Imagine is a far better card than of the M1 Prepaid Mastercard or the Fevo Card that is jointly issued by EZLink and it's partners.

You don't need to be a Singaporean or earning tons of money to be eligible for an Amex Black Card. Heee ...this is really nothing to do with a Charge Card but merely a Prepaid American Express Card.

So it's more for the people who HAVE MONEY and Want To Keep It Safe.....with a brand that is renowned worldwide...and that you can't draw cash out of it so you won't be silly and waste it or get robbed.

Color wise, and since this is my Ez-Link Card...it's an all in one. I am protected if some joker is to steal this card from my bike IU and they know it's a big issue if you use some one else's credit / debit card..... risking a hefty fine and jail sentence, plus the Ez-Connect feature insures me against fraud on my Ez-Link card.. so no skimming or RFID Pinching.....

To get it... get to the Imagine Card website and for a limited time offer, the cost is $50 +$3.50 postage with $40 inside the spending purse and while waiting for the card to be activated & registered (you do need a Passport or IC - FIN for registration) , you can use the card at Petrol Stations, Pizza Hut outlets (walk in only, not for delivery!) , Paypal, Air tickets (you can only have up to $1000 on the card btw!) and many more. You can load the EZ-Link up to $500 and use AutoReload facility if you need to do so.

And for a limited time.. they give a free Movie ticket worth $8 at Shaw...and that is the reason I want to get it. If you are OUTSIDE Singapore and want this... I can get it for you...for a small fee.. just email me your MyKad and PASSPORT Copy ok and the money....

Cheers!

Backing the wrong Green

Seriously, Malaysia changed the law for Electric Bikes in the Peninsular States overnight where they are mulling registration and licensing for the Electric Bike in the kingdom. To avoid some confusion, these are related to EN15194 EU Standards with laws read under the current Road Traffic Acts in UK and Singapore as a reference and press releases by the Department of Land Transport Malaysia (Jabatan Pengangkutan Jalan) and not the Ministry of Transport.

Under the Malaysian definition, a Electric Bicycle is a bicycle with a pedal and motor powered using batteries not to exceed 250W (Approx 0.33BHp) of power and speed not to exceed 25KM/H. This is the same guideline and legal requirement for LTA Approved Bicycles in Singapore, where there MUST NOT HAVE A FOOT REST and / or A THROTTLE. If there is a foot rest or Throttle, the Traffic Police  will deem this as a Motorcycle or Motorised Cycle. The Bicycle must also not carry a load of exceeding 18KG (Did not know that either!)! It must also have headlights and rear reflectors, cycle only on the LEFT of the Road and the rider MUST BE AT LEAST 16 Years old and WEAR A HELMET (not specified of type but leeway of using a bicycle EC Approved helmet is acceptable by UK Standards). These are read with the Singapore Road Traffic (Power-Assisted Bicycles — Approval) Rules 2004 which do specify 200W as power of the motor.

The Malaysian law amendment proposal does not require you to register your cycle if it meets the criterion. The British Law (DVLA DOT) read this as the new regulatory Moped Amendment Laws which requires the Q or AM entitlement on their driving license. It's darn expensive BTW and cumbersome to get one. Older entitlements are amended with A1(Tricycle) to allow the Motability Cycles or Scooters to be on the road. In the olden days, a Moped is a bicycle with a 50cc grass cutter engine attached.

However, if your cycle is NOT meeting the above, meaning it does not have a pedal or it's totally battery powered or the speed exceed 25KM/H...then it is classed as a MOTOR CYCLE.  The image below from the Star Dated 14 Nov is a classic example of a clear cut violation.

Disallowed in Singapore, (C) The Star 14/11/12 and a real nuisance.

Singapore does not allow this type of cycle in Singapore so it is also banned in Malaysia as per the Road Traffic Acts (Federation of Malaya Act 1957). The image above is a real clear cut violation as there is no protective shield in front, no headlamps, no proper motorcycle helmet and this is not EN19154 approved despite this imported from New Zealand. This Ang Moh is surely courting death with the roads in Malaysia IMHO.

So the Malaysian Government is not wrong banning the Electric Bikes but the wording is twisted and turned as usual. If you use a Singapore LTA SEALED CYCLE, then you are not in the wrong as it's APPROVED for ROAD USE.

For a Guide:

Electric Bicycle  ( APPROVED Power-Assisted Bicycles )
Pedals and Must be moved by CYCLING.
No Throttle. EN19154
Must have headlights.
Must Wear Helmets.
Rider must be over 16
Power not to exceed 250W in Malaysia (200W in Singapore)
NO NEED LICENSE. If riding into Singapore, require LTA Approval Seal. (Seal # Displayed on Plates)

INCLUDES Mobility Scooters.


Electric BIKE (Electric Motorcycle)
ILLEGAL IN SINGAPORE!!!
Power & Battery Pack not to exceed 11KW.
Require A B2 Driving License in Malaysia.
Cannot exceed 50KM/H
Require a registration license and Plates.
As per regulations of a Motor Cycles
Require Road Tax and INSURANCE.

This is not the law but guide for your use of E-Bikes.

Sources: DVLA UK; Dept of Transport UK; Singapore AGC ; Land Transport Authority (E-Bike); OneMotoring; Jabatan Pengangkutan Jalan Malaysia JPJ

So I'm a cheapskate

OK, you caught me there. I was with Irfan Khairy tonight watching him present his new thing on aEu. One point he make me remember and rekindle is that know what is your weaknesses and strengths and do it quick.

So I am a cheap skate. Which Singaporean is not? Am I not wrong, we are always running after something, rushing and rushing, but forgetting to be kind to others. Tonight, too I managed to pass on my knowledge of a skillset to a guy called Rafiq who is going to study medicine, that is, we doctors are a bunch of incompetent fools, so sell us things that make us save time, remember faster and without the need to rewind, read up and well, make it snappy : A DUMMY'S GUIDE!

I am always up to something. So my next up will be buy a domain from me and I'll host your site for free. Well, nothing is so much for free. There are some catches and rules such as there is no such thing as unlimited hosting etc etc, so I will specify it as a reasonable site space, under 500mb (which is more than enough!!)

Ok, there is a Powweb Offer : $1 for one whole year, and it's valid till end of May 2012.

Anyway, I will say more later on, I need a break since I am still recuperating from the motorbike accident I encountered last week at the Woodlands Customs JB Bound...my back and shoulder is giving me the pains. Again. And I need my meds. Nite All!

Gong Xi Fa Cai

Wishing all my Chinese friends and readers a prosperous new year. May this year of the dragon be filled with joy and happiness to you and the who family.

As always, drive safe, don't drink if you want to drive. Take a cab instead.

Another Singapore financial scam

The recent highlight of over 200 victims who had their debit visa and MasterCard ATM combo cards cloned and misused in Malaysia is just to show that cheap skate Singapore banks just don't listen to the reality of new age fraud and still using backdated technology in the name of saving money.

They just don't get the fact that magnetic technology which is super cheap don't work anymore. Everyone else is using EMV compliant technology, reading cards just off their data stored on the smart chip. I used it more than 10 years back in uk where we found the security loophole and here we are, Singapore stuck with the same old problem. Why?? Because they wanted to save money and still be able to charge you $2 a month for service fees. So what is the ultimate resolution for these faults??

Firstly, scrap all the existing cards. Replace all of them with NETS visa wave and embossed cards. This will deter clones and faults.

Replace all ATM machines with smart technology such as a combo cash recycler and cheque image deposit. Touch screen is pretty useless actually.

Update all the crypto keys with 4096 SHA2 SSL3 technology on all machines. All nets terminal to use wireless payment as mandate. The machines must accept all other card services such as diners club,Amex and Malaysian MEPS bank card as ocbc and uob are member banks there.

Automatic call notification of foreign transactions and especially ATM withdrawals. Locator services can see if customer is outside the country and manual checks done.

Now the customers suffer. Time for you to think if our Singapore banks are up to scratch.

Delays to the GST Offset and rebates?

New year 2009, where everyone is painfully waiting for the GST Offset and Credits makes one wonder if the Singapore Government is scaling back on the payout of the GST Offset.

Experts have said that due to the poor economic situation in the world, Singapore would not be increasing the Goods and Services Tax or GST to the the targetted 10% in line with the reduction of the VAT cuts by the British and some European partner countries to boost the frailing economy.

Which means one thing, NO $250 payout to the citizens this year. The fact that NSFs are getting an extra $20 for their group insurance means one thing, less benefits to the citizens, and CPW based benefits are to go for uniform groups.

Though this is just skeptical talk, the government is not doing it's part by not announcing the needed news for the payout which most citizens are really desperate for, especially in times of retrenchments and ever increasing costs.

The stimulus package is great for some, mainly bigger SMEs but not for the guy on the street. Money is getting harder and with in close ranks effect the debtors more. What Government could do is lend more money, from our own CPF Funds and lower credit card rates to a base rate of 10% being that the base lending rate is near to nothing. Many have lost thousands or even their whole life savings in the stock markets, in relations to the insurance ponzi and crashing unit trust prices, and as such the government should look into more to help it's own citizens, not just the foreigners. Despite that the foreign workforce earns the government $350 a month in terms of levies, the money should be pooled back to the citizens, local or abroad as they are supposed to care for us, not for their own pockets or even their friends.

Don't let the political scene be like Malaysia in the next decade, where citizens are not happy and revolving to the face of a heart. PAP have done a good job for the past 40 years and it is due for another mandate soon enough. A fluke electorate will cause more chaos and have Bob the Builder at the helm of the government.

Singaporean couple caught having sex in car park!~

It says all..happily fondling and enjoying themselves that someone with good DSLR caught them on screen. Thanks to my useless sis who has nothing better to do than to scavenge for gossips among her friends of paparazzi bloggers which then uploaded them to STOMP!

THIS POST IS RATED (NC-16)

Banks - Are they a good buy right now?

During these days, bank stocks are coming at a cheap deal, especially with the economic crunch that have engulfed the regions and the American market. All these sentiments cause a knock on effect across the board be it on the NYSE Main Board or Dow Jones Index or London Stock Exchange par to the Financial Times Index or you are a trader in Singapore or Malaysia or even Hong Kong, stocks are plummeting as far as 34% over the last 30 days.

I am a small time buyer, not willing to risk everything on the expensive stocks pegged to the index as each stock cost at least in the double digits, tens of dollars or some costing over the hundred dollar mark each. Any changes in the sentiments will cause me to loose a chunk of money. However, it is the best time to pick out the ripe stocks for keep sake, as the dollar slide against the other currencies and the index are dipping as gradual as possible.

Take for example Malayan Banking Berhad, aka May Bank in Malaysia, one of the oldest and biggest bank in the South East Asia market, as old as Hong Kong Shanghai Banking Corporation HSBC and at par even with London Based Standard Chartered Bank aka StanChart. They announced yesterday that they are acquiring Bank International Indonesia BII for US$2.1 Billion from Singapore Government's Investment Arm Temasek Holdings making them the biggest bank in the South East Asia. Does that mean it is going up? Supposingly. However, due to poor market sentiments today and the fact that the bank will be using up all their financial backing to purchase the other entity sent the trigger signals today creating a landslide of more than 10.6% dive in it's value. The bank has to hold at least $2.3 Billion in cash for their Singapore Based license as they are the Foreign Local Bank, just like Oversea Chinese Banking Corporation OCBC and the United Overseas Bank UOB Group in Malaysia.

So, is it a good buy? Yes, as the banks are stable here, they will call for dividends and with projections issued out this year, it calls on profits over $1.17 Billion before tax and even when the prices dip a little bit, you should buy more to cover your positions and wait for your bonus issues. As for American Banks, they are over priced too much and they should dip another 12 - 22% before I call it a worthy price, as they are suffering as what the Dot Com are facing 10 years back, with over inflated prices. Returns of the IRA and CD are not working out well, so it's time to dip into those funds and liquidate them, going for gold and overseas financial stocks like Halifax Bank of Scotland HBOS or HSBC or even Malaysian and Singapore stocks. They kept on merging and going into alliances so it's the best time to buy as US Dollar is losing their par value.

Good Hunting