Bad News for Singapore Realtors – ERP Rates Up Again

Just when you think inflation is the one doing the bad work. LTA has just announced an increase in ERP gantries along key areas and increased gantry rates.

Photo credit: Khalid Saad

Key date: July 7th 2008
Key rate increase: $0.50 to $2.00

There’re a total of 65 gantries and almost half of the numbers’ prices will be adjusted. 5 new gantries will be built and there will be 5 new gantries along the Singapore River.

Key Most Expensive Timings to enter ERP: 6pm – 7.30pm along selected ERP Gantries/ Saturdays from 12.30pm -8pm on selected ERP Gantries. Cost $2.00

More details can be found in LTA’s One.Motoring portal here.

Well, potential overseas investors can be relieved that the Government is doing fundamentally sound in its politics and infrastructure to attract foreign funds into Singapore. That’s probably one revenue that supports the clause!

Fellow Realtors would probably need to cycle to work next time. lol.

Singapore Shows Vigilance Capabilities on the Hunt for Jemaah Islamiyah

A MMS from ‘SPF’ came yesterday at 4pm.

You would think you’re getting another mobile virus from some anonymous bastard who wants to fry your phone. As Channel News Asia flashes across me with the JI terrorist hunt still on, I opened the MMS with my Dopod.

Mmn, so this is how Jemaah Islamiyah look like. It would seem so weird that he could possibly escape, but Singapore Police Force and the Singapore Armed Forces have been securing most of the key installations and possible escape perimeters very vigilantly. A good friend of mine, Nicholas who’s in the fish chartering business notice a lot more coast guard petrols on the sea lately.

I would say SPF and SAF is taking this operation as a way to show off their capabilities. First off, the main mobile networks volunteered and allow SPF to tap the 5.5 million mobile phones (M1, Singtel and Starhub). I received another email coming from Singnet, it looks alot like a phishing email than a warning one though, but its not too hard to recognise.

Posters of Jemaah Islamiyah is all over the island, and with the public working diligently with the government forces, it’s only a matter of time before he gets back behind bars.

Citibank Credit Cards Changes Interest Rate (Singapore)

Noticing some fine prints behind my Citibank credit card, I scanned through the changes in terms of service with regards to interest rate pretty quickly.

Citibank has joined the ranks of Standard Chartered and Amex offering clients with good paying records to lower their interest rates; and penalising those who aren’t responsible paymasters.

Known as tier pricing, Citibank credit card customers with good paying habits would be rewarded in terms of lowered interest if they have been paying their bills regularly. We’re looking at the due date with at least the minimum sum payable; Should you miss paying at least twice, your interest rate could hit as high as 27% per annum, which means 2.25% compounding interest, 0.25% higher than of the old 2% which works out to be 24% per annum.

And for customers who honor their bills regularly, it’s 1.5% per month, 18% per annum, which means massive savings. I happen to fall in this category, hopefully yours too!

Singapore Wins Youth Olympic Bid

Woohoo, it seems that Singapore is on a row with events. First F1 Formula racing, then you get the ever first in the world’s night racing and now Youth Olympics to be hosted in our heartland Singapore in 2010!

(photo: yahoo)

With 53 votes to 44, Singapore aced Moscow and will be the first Southeast Asia country to light up the Olympic torch in 2010. Singapore will be spending 75.5 million on hosting the inaugaral event, with 24 venues, 4 venues will be staged up just for the Youth Olympics. We’ll be expecting over 3,500 althetes from age 14 – 18, competing in 26 sports.

Wow, now that calls for a good beer and cheers to everyone around me. It’s great when the nation excels and moves a step towards world recognition in the sporting arena.

Geylang Remains as a Residential Area

Nice photos of Geylang conserved shophouses (photo: Matthias)

I live in a red-light district area for almost 10 years and never had problems with it. We haven’t seen any reports of men sexually harass girls here for a long time too.

Minister Mah Bow Tan was responding to a query from a Marine Parade MP on tightening the security of Lorong 22 – 44 Geylang (I live in lor 36) to control the vice activities that might spread from the smaller numbered lorongs (Lorong 10 – 20 are more tyrant on red light activities)

Personally, I never find prostitutes walking around a problem, and to be honest, the situation isn’t as bad as what the Marine Parade MP Fatimah thinks. From time to time, we’ll see illegal freelancers from China walking around to solicite their services, but rarely do any man responded to them. The numbers aren’t as frightening as those in Lorong 10 – 14. Probably 3 – 4 a night on the stretch of Sims Drive?

I’d wish the zoning could change for the higher lorongs of Geylang though, it’ll bring more robust and entertainment to the already very vibrant and colorful Geylang. We’ll see more and more developments coming up with Paya Lebar converting into a business hub and new mall springing up around the area.

Shop houses around these higher lorong numbers should benefit from the new changes in the near future.

The proximity location from Geylang to town in my opinion is one of the best too. With Nicoll Highway just around the corner. Zipping to Suntec City can take as fast as 10 minutes from here.

Singaporeans Average Life Span At 80 – CPF Life Introduced

Even I’m pretty skeptical at how old I could live till, but our Government now expect a typical Singaporean life expectancy to be at 80. With that, the Government introduces a new scheme, CPF Life

We can still pak tor when we’re 80! (photo: magictoast)

With 12 types of annuity plans to choose from, Singaporeans who are aged 50 and below for now are set to get a steady retirement income till death. Payouts can start from as early as 65 or as late as 90 (my god, that’s a little ridiculous). And if you do not choose a option, the default for payout to start will be set at age 80.

CPF will be the sole Financial Institution and Government Board to manage CPF Life.

The scheme will be rolled out in 2013, 5 years from now.

What it means to us:

Social security during old age is a plus point, but that probably means setting more aside for the existing CPF minimum sum component where the premiums will be deducted from.

Psychologically, I’m not too sure about setting an age an an option which is not changeable once you’ve set it. Like with the refund or non-refund option to family, would we because of CPF Life target to live longer just to care about the payouts?

This is bewildering.

Everyone should probably get a copy of Straits Times and read on the 10 FAQs covering most questions that a typical citizen would ask. Also, this PDF file from Channel News Asia would probably cover your doubts with scenarios and explanations.