by Conrad Raj
The recent measures by the Government to prevent a property bubble in Singapore are generally welcome.
However, like all such measures, they sometimes appear to have unintended effects. In some cases, they may appear to affect people who probably were never meant to be the target of those measures.
Take the case of those who own private property not in Singapore but abroad. According to the new rules, a person who buys a non-subsidised public housing flat after the end of last month can only purchase a private property after living in the HDB apartment for a minimum of five years.
Those now own private properties and want to buy a HDB flat will have to sell their private property within six months of their HDB purchase. It does not matter if the private property is here or abroad.
Those who fail to declare their ownership of private properties or make a false declaration face fines of up to $5,000 or a prison term of up to six months, or both. The HDB can also compulsorily acquire its property if it discovers a false declaration has been made after the buyer takes possession of the flat. But many will get away with it for it is impossible or impractical to verify property ownership abroad.
Still, why penalise those having private properties abroad in the first place? How do these people compete for properties here? How are you going to attract foreign talent if they have to give up homes they may have to go back to one of these days - unless you intend to more or less imprison them here?
Not all foreign talent attract the kind of remuneration or pay packages that will allow them to buy or rent private property here. It may make more sense for these people to buy their own HDB flats. And as already reported, permanent residents who inherit properties overseas can also be placed in a quandary. Do you dispose of your inheritance, no matter what the sentimental value attached?
I know foreigners have been accused of driving property prices here sky high. But if you want to attract talent, you have to provide the infrastructure to accommodate them. The solution lies in building more flats, not in depriving them of what they own overseas.
While property prices here, both private and public, are generally expensive, a property in Malaysia or elsewhere abroad, including Australia may be relatively cheap - sometimes one third or less the cost of a four-room HDB flat here.
In fact I know of many friends who have properties in Perth or Malaysia which they use for vacations abroad. Now the new rules will not allow for such luxuries. Why?
One lady wrote in to the papers to say she had a small property in Malaysia which now houses her parents. And she had paid the option for a HDB flat here. Now she has to give up the option or leave her parents homeless. Were the rules meant for such cases?
What about retirement properties overseas? Do you have to live five years in an HDB flat before deciding to invest in them?
Latest Posts By pharoah88
- Supreme
About pharoah88
|
|
| 28-Nov-2010 15:48 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
 Go to Message
|
||||||
 x 0
 x 0
|
[WIN + WIN] SOLUTION is The BEST EveryOne mUst WIN nObOdy nUst lOse whatever ????cracry Is Of nO Use |
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 15:45 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
Go to Message
|
||||||
|
x 0
x 0
|
INTEGRITY and SINCERITY are mOst ImpOrtant In lIfe ? ? ? ? nObOdy Is mOre stUpId ? ? ? ? everyOne Is nOt less SMART ? ? ? ? |
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 15:41 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
Go to Message
|
||||||
|
x 0
x 0
|
A LEG fOr A LEG agaIn JOHOR hIts back ? ? ? ?
|
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 15:32 |
Genting Sing
/
Traders Lounge - Daily opportunities for everyone
Go to Message
|
||||||
|
x 0
x 0
|
when retaIlers support BBs BBs tUrn arOUnd and WHACK retaIlers |
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 15:29 |
Genting Sing
/
Traders Lounge - Daily opportunities for everyone
Go to Message
|
||||||
|
x 0
x 0
|
BBs eatIng retaIlers
|
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 15:11 |
Genting Sing
/
Traders Lounge - Daily opportunities for everyone
Go to Message
|
||||||
|
x 0
x 0
|
leaders eatIng fOllOwers
hIppOcracy ? ? ? ?
|
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 15:09 |
Genting Sing
/
Traders Lounge - Daily opportunities for everyone
Go to Message
|
||||||
|
x 0
x 0
|
strOngest hUmans eatIng weakest hUmans medIOcracy ? ? ? ?
|
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 15:04 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
Go to Message
|
||||||
|
x 0
x 0
|
mOst dIrect hIt is On Malaysian prOpertIes ? ? ? ? KL prOpertIes ? ? ? ? Johore prOpertIes ? ? ? ? especIally JB Iskandar prOjects ? ? ? ? |
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 14:56 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
Go to Message
|
||||||
|
x 0
x 0
|
How is owning overseas private property going to impact on local property prices? As Singaporeans / PRs Own more foreign properties Singapore property prices wOUld fall ? ? ? ? The BAN will increase demand for Singapore properties and increase Singapore property prices fUrther ? ? ? ? |
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 14:52 |
Others
/
TRADE FREELY & LiVE LONGER
Go to Message
|
||||||
|
x 0
x 0
|
|
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 14:41 |
Others
/
TRADE FREELY & LiVE LONGER
Go to Message
|
||||||
|
x 0
x 0
|
Mathez Truffes Fantaisie Cocoa Dusted Truffles - Hazelnut 250gFrench cocoa dusted dusted truffles with hazelnut pieces. box size: 13cm x 9cm x 9cm ingredients: vegetable fat, sugar, fat reduced cocoa powder, whey powder, toasted hazelnut chips, cocoa powder, soya lecithin, hazelnut flavour. may contain traces of nuts, sesame, eggs, gluten. |
||||||
| Good Post Bad Post | |||||||
| 28-Nov-2010 14:37 |
Others
/
TRADE FREELY & LiVE LONGER
Go to Message
|
||||||
|
x 0
x 0
|
|
||||||
| Good Post Bad Post | |||||||
| 27-Nov-2010 15:03 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
Go to Message
|
||||||
|
x 0
x 0
|
|||||||
| Good Post Bad Post | |||||||
| 27-Nov-2010 14:58 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
Go to Message
|
||||||
|
x 0
x 0
|
Hi Guru, question. Aware that there is restriction to purchase ...
9 Nov 2010 ... Aware that there is restriction to purchase resale HDB if a PR is owning a property in home country? Please confirm. Is there anyway to ...
www.propertyguru.com.sg/.../hi-guru-question-aware-that-there-is-restriction -to-purchase-resale-hdb-if-a-pr-is-owning-a-property-in-home-coun... - Cached Property in Singapore: New HDB rule on overseas home ownership ...
15 Sep 2010 ... How is owning overseas private property going to impact on local property .... Apart from some restrictions on ownership, one of the common ...
ckgroupproperty.blogspot.com/.../new-hdb-rule-on-overseas-home- ownership.html - Cached |
||||||
| Good Post Bad Post | |||||||
| 27-Nov-2010 14:52 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
Go to Message
|
||||||
|
x 0
x 0
|
 Hi Guru, question. Aware that there is restriction to purchase resale HDB if a PR is owning a property in home country? Please confirm. Is there anyway to appeal from the HDB for an exception to purchase eg. property in home country is occupied by parents etc..please advise..
Posted by Matt - Nov 9, 2010 in HDB Questions - 105 Views Latest Answers by Real Estate Professionals (3 answers)Posted Nov 9, 2010
 0 %
 0 %
  Posted Nov 9, 2010
0 %
0 %
Posted Nov 10, 2010
|
||||||
| Good Post Bad Post | |||||||
| 27-Nov-2010 14:45 |
User Research/Opinions
/
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ?
Go to Message
|
||||||
|
x 0
x 0
|
? ? ? ? prOtectIOnIsm In dIsgUIse ? ? ? ? | ||||||
| Good Post Bad Post | |||||||
| 27-Nov-2010 14:40 |
User Research/Opinions
/
#### POLLUTION #### & 3RD WORLD STANDARD ##
Go to Message
|
||||||
|
x 0
x 0
|
Cancun must learn from Copenhagen’s failure Rachel Mountain With the disappointment of Copenhagen firmly fixed in the minds of many, the expectations as to what may be achieved from Cancun this year seem to be more realistic (if not a little pessimistic). Reuters
The writer is head of global marketing at Greener World Media. The main objective of discussions leading up to the Conference of the Parties 16 (COP 16) from Monday to Dec 10 is clear: To cultivate and lay the ground for successful climate change negotiations in South Africa at the end of next year. With many people simply discounting Cancun, does this actually mean that there will be little progress? Hopefully not. Early indications are that Cancun could deliver something that goes some way further than the pledges in the Copenhagen Accord, but falls some way short of being a final all-encompassing international agreement on climate change. It is fair to conclude at this stage that it is pretty unlikely that parties will agree on targets for greenhouse gas-emission cuts for industrialised countries (which would include the United States). The US is not in a position to agree to binding cuts, largely as a result of the absence of any clear policy signals from Washington. Similarly, developing countries with larger economies are also likely to be reluctant to commit to undertake significant obligations to monitor and report their domestic emissions. This could be a huge stumbling block as it is a key requirement of the industrialised countries and would likely result in a deadlock between the two sides. Smaller developing countries, numbering more than 130 but which are only responsible for around 15 per cent of global greenhouse gas emissions, are likely to want to see significant progress in Cancun in relation to finance. Given the bold finance pledges from the industrialised countries in Copenhagen, these countries will not want to be disappointed and will be looking for further clarity as to how these finance pledges are going to materialise. In the pre-COP conference in Tianjin, the proposed solution was to utilise the current infrastructure of multilateral financial institutions and global funds, such as the World Bank and the Global Environmental Fund. Responsibility for oversight could come in the form of the UN Framework Convention on Climate Change (UNFCCC). The negotiations will also focus on market mechanisms, alongside other means of incentivising the necessary flow of private-sector capital. So far, over the next three to five years, only US$30 billion ($39 billion) of financing has been pledged, which is a small drop in the ocean of the US$250 billion to US$380 billion needed by 2030 to address climate change, according to the UNFCCC. Visible progress will need to be made on national and international policy in Cancun, especially in terms of developing an appropriate regulatory framework and associated instruments. These policy developments need to provide a clear signal to the private sector as to what the likely architecture of any forthcoming market mechanisms may be. Only then will the business community be confident enough to start developing innovative climate-change solutions and also to deploy private-sector capital. Failure to provide this clarity with regards to the architecture for any forthcoming market mechanisms in Cancun is likely to see the private sector continue to stall on making any significant climate-change investments for at least another year. The well-documented result in delaying significant climate-change investment is that the overall cost for undertaking mitigation and adaptation activities dramatically increases. Cancun could prove to be an important stepping stone in achieving a broader international agreement on climate change next year. However, in the interest of climate change, Cancun is strategically important and must make progress in key areas if we really are to mitigate the effects of catastrophic climate change. |
||||||
| Good Post Bad Post | |||||||
| 27-Nov-2010 14:32 |
User Research/Opinions
/
#### POLLUTION #### & 3RD WORLD STANDARD ##
Go to Message
|
||||||
|
x 0
x 0
|
The hottest year in recorded history? With temperatures about 0.5°C above the recent average, 2010 is in the running for an unwanted crown OSLO — United Nations climate talks resume in Cancun, Mexico, where expectations are no longer for a comprehensive deal to slow warming, but smaller progress — for example to curb deforestation, in a bid to agree to a pact next year or later The previous conference in Copenhagen [2009 ?] last year fell short of hopes, but about 140 countries have agreed to a non-binding deal to try to limit warming to less than 2°C above pre-industrial levels. Temperatures are now about 0.8°C above pre-industrial levels, and this year is about 0.5°C above the 1961-to-1990 average. Even with a possible cool end to the year, 2010 is expected to be no lower than third in a record where 1998 and 2005 are warmest. The UN panel of climate scientists says higher temperatures mean more floods, heatwaves and rising sea levels. “I think it’s too close to call. Based on these numbers it’ll be second (behind 1998), but it depends on how warm November and December are,” said Dr Phil Jones, director of the Climatic Research Unit (CRU) at the University of East Anglia. By contrast, scientists at Nasa say surface temperatures until last month were above the previous record year, which it says was 2005. Differences between years are only a few hundredths of a degree. “I would not be surprised if most or all groups found that 2010 was tied for the warmest year,” said Nasa’s Dr James Hansen. And the US National Climatic Data Centre (NCDC) at the National Oceanic and Atmospheric Administration, said this year until last month was a “dead-heat” for the record, “virtually tied with 1998”, according to climatologist Deke Arndt from the NCDC. Some sceptics argue that because the last temperature peak was in 2005 or 1998, global warming must have stalled. Most scientists reject that view, saying that whether or not this year is the hottest year is less important than the long-term trend, which is up, due to human-caused greenhouse gas emissions. The period 2000-to-2009 was the warmest decade on record. “The trend is overwhelming, particularly over the past 50 years,” said Dr Rajendra Pachauri, head of the UN panel of climate scientists. “I wouldn’t read these numbers for a particular year as very compelling; we have to take a historical view.” In one of the biggest bets on climate change, Dr James Annan — a climate scientist at the Frontier Research Centre for Global Change in Japan — in 2005 made a US$10,000 wager with two Russian solar physicists who are sceptical about global warming. He will win if average world temperatures are higher from 2012-17 than they were from 1998-2003. “Things are progressing smoothly,” he said. The UN’s World Meteorological Organisation will publish an estimate on Dec 2 of where this year ranks. “We have indications that it will match one of the three warmest years,” said Dr Omar Baddour, head of climate data management operations. This year is — so far — tied for the hottest year in a record dating back to 1850 in a new sign of a warming trend, the three major institutes which calculate global warming estimates told Reuters.(see commentary).Reuters |
||||||
| Good Post Bad Post | |||||||
| 27-Nov-2010 14:23 |
User Research/Opinions
/
~TALENT mIs~develOpment=*WEALTH mIs*dIstrIbUtIOn
Go to Message
|
||||||
|
x 0
x 0
|
The part Singapore can play to stop genocide Mahdev Mohan Few know that Singapore is also a party to important human rights treaties, such as the convention preventing and punishing the crime of genocide, which came into force in 1951. Genocide — the deliberate destruction of an ethnic, racial or religious group — is as widely misunderstood as it is condemned. When I tell my Singaporean friends that I represent genocide survivors at the UN-backed Khmer Rouge Tribunal which is trying former Khmer Rouge leaders for heinous mass atrocities, I am often greeted with a quizzical look. It is a look which suggests, “that’s interesting but what does it have to do with Singapore?” My recent encounter with an eminent lawyer and former Sudanese Foreign Minister, Dr Francis Deng, serves as a reminder that there is nothing abstract about genocide and mass atrocities. Indeed, Singapore may have much to offer when it comes to detecting and preventing their occurrence in the region. Dr Deng is now the UN’s Special Adviser on the Prevention of Genocide and is tasked with raising awareness about genocide; providing early warning of potential genocides to the UN; and recommending methods to prevent or halt this heinous crime. In speaking at a seminar chaired by Professor Tommy Koh at the National University of Singapore recently, Dr Deng did not tritely assert that genocide should be punished but rather, chose to place it in its proper context. He noted that while genocide is an identity-related crime, the differences in identity alone do not generate conflict. Rather, conflict stems from inequalities associated with those differences, with regards to access to power and resources, provision of social services and the enjoyment of human rights. Seen in this light, genocide is not just a mass crime but a manifestation of systemic governance and developmental problems. Dr Deng praised Singapore as a country which has competently tackled such problems; a meritocracy which has strived since the racial riots of 1964 to promote a common sense of belonging on equal footing, while giving due recognition to pluralism in society. Like Dr Deng, I believe that there is much to be said for putting forward a “Singapore model” of genocide prevention. With greater integration among Asean member states, more should be done to identify the normative frameworks, caselaw and policies best capable of holding together Asean’s diverse peoples in a cohesive democratic structure, while maintaining respect for the rule of law and good governance, and protection of human rights and fundamental freedoms — all principles enshrined in the Asean Charter. Utilising lessons from Singapore’s own experience with regards to managing cultural diversity, our government officials, scholars and practitioners should collaboratively support Dr Deng’s mandate in the following ways. First, establish a universitybased research centre to act as a focal point for discussion, research, analysis, training and capacity building focused on genocide prevention and its corelation to democracy, the rule of law and good governance and protection of human rights and fundamental freedoms in the region. Second, develop and maintain a database of information on — and context-specific responses to — possible genocide and mass atrocities in the region, taking into account Asean’s richly diverse ethnic population. Third, constructively engage and consult with UN agencies, Asean and its regional commissions, such as the Asean Intergovernmental Commission on Human Rights, about situations of possible concern. In the wake of regional conflict and unrest, genocide prevention presents a perfect opportunity for Singapore to contribute to peace and security in Asean. It is also high time that we nurture a new generation of lawyers and scholars who appreciate that there is a delicate balance between harmony and pluralism and are prepared to refine Singapore’s model of diversity management for Singapore and the world. The writer is an Assistant Professor of Law at the Singapore Management University and an Associate Fellow at the Singapore Institute of International Affairs. Since 2008, he has been an international lawyer for Cambodian victims of mass crime before the UN-backed Khmer Rouge Tribunal. |
||||||
| Good Post Bad Post | |||||||
| 27-Nov-2010 13:52 |
User Research/Opinions
/
~TALENT mIs~develOpment=*WEALTH mIs*dIstrIbUtIOn
Go to Message
|
||||||
|
x 0
x 0
|
The dangerous myth of the hero entrepreneur Many choose the wrong career in search of glory or cannot find qualified people who will work for them Esther Dyson Earlier this month, I sat on a panel in Monte Carlo, a hotspot of the establishment, discussing the question: “Why can’t Europe be more like the United States?” that do redound to a hero entrepreneur’s home country. First, the local entrepreneur serves as a role model.
SHORT OF SUPPORTING TROOPS In cultures where start-ups are considered risky and not quite honourable, it’s also hard for entrepreneurs to find troops to play the non-starring roles. Most people would rather work for an established company, or for the government.
So, rather than focussing on the supposed shortage of entrepreneurs, consider for a moment the very real shortage of qualified people willing to work for them. For every Bill Gates or Steve Jobs who founds a company, a healthy economy needs tens, hundreds and, ultimately, thousands of such troops.
But right now, in the Silicon Valley that almost every country envies, technology blog
This is an even bigger problem for the hundreds of start-ups that want to hire engineers but can’t afford to compete with the likes of Google and Facebook. And, while the US has many engineers of its own (and imports others, despite restrictive immigration policies), many other countries do not, exacerbating the challenges smaller start-ups there face in getting qualified people.
Both in the US and elsewhere, most education systems aren’t churning out the kinds of people start-ups need to hire. The problem is not just a lack of engineers but also of people with the necessary business, financial and communication skills. Many large companies in emerging markets such as Russia and India train their own employees because college graduates often lack the requisite skills. That’s good for large companies but it leaves behind smaller companies that can’t afford to train the middle ranks or compete for the best.
This misalignment of incentives stifles many economies.
Countries that want to be successful overall, rather than merely to play host to a couple of billionaire entrepreneurs who eventually will decamp to a tax haven, must focus on building a strong educational system for all their citizens. That is where the notion of the entrepreneur as hero can be helpful — by inducing more young people to study maths and science, which will help them in many ways even if they pursue a non-technical career.
How to encourage entrepreneurs?
Instead of subsidising startups directly, governments should become good customers for them.
The US government is a huge customer for all kinds of software companies, just as it helped to build the airline industry long ago by contracting out postal service transportation.
Entrepreneurs tend to go where the money is but their companies stay and provide value (and jobs) where they can find good customers and good employees.
It is the well-educated who can get the best jobs — and thus earn the money to buy the kinds of goods and services that they and their fellows produce.
The writer, chairman of EDventure Holdings, is an active investor in a variety of start-ups around the world. Her interests include information technology, healthcare, private aviation and space travel. The formal name of the panel was “Silicon Envy: Will Europe ever build the next new media giant?” But I think people are focussing on the wrong question. After all, what is the actual value of a Microsoft or an Apple, Oracle, Google or Twitter to a country in the first place? Surely, it’s not the taxes paid by Bill Gates (picture) or Steve Jobs or Larry Ellison or Sergey Brin, nor even the taxes paid by their companies (of which other countries get a share anyway). The real value created by many of these companies is much broader. Their employees become productive workers and, ultimately, consumers in some local market. And their products and services generate value even when pirated or used in countries where the provider doesn’t sell much advertising. A country can get all these benefits without actually being the entrepreneur’s home country. But there are two benefits He (rarely she) encourages people to dream — and also to take risks, persist in the face of long odds, and generate economic activity. All over the world, little boys study maths and science in the hope of becoming the next Bill Gates. But having your own local Gates is much more compelling. I’ll always remember what a Russian friend said to me back in 1991 at a conference I organised in Hungary: “Of course we all know about Bill Gates in Russia. But he’s not relevant to us: He lives in the US; he went to Harvard. But seeing what the Hungarians have done — that means something to us. It lets us dream of what we could do ourselves.” Yet sometimes I think this hero entrepreneur myth is dangerous. In an economy such as the US, where start-ups are revered, people who would make perfectly good project supervisors or salespeople establish their own companies, starving the ecosystem of middle managers. Thousands of perfectly smart and highly useful people feel inadequate because they are not heroes. Many make the wrong career choices in search of glory. For example, I know a brilliant chief technology officer who started a company that never gained traction because he simply couldn’t manage it. His investors (including me) encouraged him to merge with a competitor that had a great salesman as its CEO. But the two CEOs couldn’t agree on terms, and now the CTO’s company is dead while the other company struggles with inadequate technology. |
||||||
| Good Post Bad Post | |||||||
| First < Newer 3181-3200 of 13894 Older> Last |