tzlee.com/blog

Category: Society & Education

  • Impending General Election

    So there has been some discussion on topics that are “close to our hearts”, such as HDB prices.

    Wife read a site/blog that claims that HDB flats are leased to us, so why do the prices go up instead of down as the flats age?

    Simply put, it’s inflation. But why inflation?

    So let’s start from the root of the problem. Singapore’s economy is highly dependent on her workforce. Unlike the middle east, we have no natural resources. So we LPPL.

    (We’re also lucky in that aspect, otherwise we may be at war.)

    We also suffer from an aging population. This is not uncommon – most developed countries have this problem. We will need to fill up the jobs that our parents used to fill to keep the economy going.

    So it’s quite clear now that to grow our economy and to maintain our standard of living we’ll need to grow our population. And so the government has started to “import” population as a desperate measure, otherwise our economy will go downhill – which will actually be worse.

    What happens when we have “imports”? They need a place to stay. Since they can’t buy new flats (which doesn’t make sense anyway — new flats take time to build, and they need a place to stay IMMEDIATELY), they’ll buy resale.

    And with a small plot of land, a shortage in supply of flats and a strong demand from our imports, HDB prices will naturally go up. 99 year lease term? Doesn’t matter. Arboh you want the imports to sleep on the streets?

    So why can’t the government build more flats? OK, let’s turn that question around. Who’s going to build more flats? Ah-ha! We need more imports.

    Get the idea now?

    Economic growth is a cycle. You can’t break it. Too bad… the world works this way – even before money was invented!

    IMHO, we are here in a developed country. We have our problems. Whether we like it or not, we either suck it up and make the best of it so you can live a better life here, or think about how you can get away if you can find a greener pasture elsewhere.

    BTW, don’t get me wrong. I’m not in favor of any political party. Actually I’m interested to see what the opposition has to say. Most have a lot of rubbish to say but no solution yet. We shall see!

  • To Hire and Be Hired

    So wifey’s colleague will be going on a long leave for a period of 3 months and she had to sit-in in an interview of a new guy who would be covering her colleague.

    According to her, the interviewee – a FT, apparently, from another part of Asia – was able to describe his job scope and responsibilities so well she felt that Singaporeans were at the losing end for being really bad at articulating their work experiences.

    However, wifey had a feeling this guy was half bullshitting as he used the term “we” more often than “I”, meaning he was describing his team’s work rather than his individual contribution. However when probed, the interviewee was capable of elaborating details of processes, so she couldn’t really ascertain if it was really bull or not.

    Then I spoke to another friend who had some bad brushes with FTs and he asked if her colleague had asked more objective questions rather than open-ended questions such as “describe your role in your previous job” and wifey said: “Not really.”

    So there are two problems here. We suck at both ends – as an interviewee and interviewer.

    When I was in my first job in a small local start-up I had similar problems with interviewing, so I came up with a 3-page technical test. Rather fortunately (or maybe unfortunately) the test filtered out a lot of candidates and it became really difficult to find a decent hire and eventually we were a little starved for manpower. Over time, some random hires got in and were asked to go, or quit shortly after anyway.

    Where have all the good people gone?

    I’m suspecting the big companies are sucking them all up, leaving small start-ups in the ditch.

    So it leaves all the Tom, Dick & Harrys (hereinafter “TDH”) to search for small-timers who are desperate for manpower to fulfill their growing business.

    But if small companies don’t firm up their hiring process and start hiring any TDH, they may be in for a rough ride.

    TDHs don’t really bother with company culture. They follow some rules set out by HR just for the sake of it. And for a start, many small start-ups lack culture, so TDHs will readily mess that up.

    A lot of TDHs I’ve seen are in for the money, or it’s just another job to fill their idle time. TDHs lack commitment, and will readily switch jobs when a better monetary offer comes along.

    Lastly, TDHs are a waste of time if you send them for certifications. They lack passion and will use your certifications as an opportunity to get a better hire elsewhere, and all your money would have been gone to waste after a year of intensive training.

    So if you run a small start-up, I’d like to suggest that you firm up your hiring process. One good employee is better than many crappy ones. They bring a lot of intangible benefits to a company.

    It’s really not difficult to weed out the TDHs. Test their thought processes, ask them whacky questions, push them to the limits of their answers. A passionate hire will pay attention to detail and will offer creative suggestions. TDHs will probably just answer “I don’t know” and go in search for the next easier target.

    However, if you’re on the opposite side and is going for an interview soon, learn to talk. It’s really a skill, especially if you’re still in school – take your presentations seriously and aim to capture your audience. These are real life skills. If you can’t sell, you have no money! I wished I had taken them more seriously 10 years ago, but it’s a little too late for me now 😉

  • Truth or Dare?

    Do you dare to take the road less travelled? Or simply stick to what you’ve been doing only to find the truth a little too late?

    It’s not all about guts of course, but it’s a calculated risk. The difference is in the calculation.

    That’s probably why Singapore lacks an entrepreneurial spirit – we got the risk formular wrong.

    Many success stories may seem like luck – being there at the right time, in the right place.

    Lee Kuan Yew once said, the situation makes the people. The people does not make the situation.

    I’ve come to believe if one searches hard enough for it, be it anything – love, money, fame, career – you will find it someday.

    Gambatte!

  • Inflation vs Interest Rates in Singapore

    So 2010 inflation was at 2.8%, and this year the government estimates it to be at 4%.

    I’m actually wondering how these figures came about. (JJ, I know you’re reading this. Please enlighten – you can leave a private comment if you want.)

    Are property prices part of the index used to calculate inflation in Singapore? How about vehicle prices? How about the fact that CPF has raised it’s maximum monthly cap to $5,000 and increased employer contribution by 0.5%?

    My estimate is that inflation has in fact risen a good 5%-8% in 2010 and will be much higher in 2011.

    If you compare Singapore and maybe New Zealand which has similar inflation rates, the interest rates in Singapore are at a pathetic 0.06%. The interest rates in countries like Australia and New Zealand are at 3-4% – at least close to that of inflation. Even USA with an inflation rate of 1.6% in 2010 has an interest rate of 0.25% – four times that of Singapore.

    What this means is that money my bank is shrinking 3.94% every year. Forget it, make that 4%.

    So on top of putting up in an overcrowded nation and dealing with my noisy neighbours, my savings are actually shrinking. For every $10,000, that’s $400. Wow.

    If I don’t want risks and want my money to grow or at least catch up with inflation, what do I do with it?

    References:
    http://www.rttnews.com/Content/AsianEconomicNews.aspx?Node=B2&Id=1571224
    http://www.tradingeconomics.com/Economics/Stock-Market.aspx?Symbol=SGY
    http://www.tradingeconomics.com/Economics/Stock-Market.aspx?Symbol=NZD

  • Ten Habits of Incompetent Managers

    Good read: http://www.thepracticeofleadership.net/2007/11/11/ten-habits-of-incompetent-managers/

  • Blogging helps language

    Trying to restart blogging is like trying to get off cough syrup addiction. I’m having withdrawal symptoms – looking at the WordPress interface makes me nauseous. I actually need to force myself to write.

    My English is going down a death spiral with my daily dosage of Singaporean “business communication”, or whatever they call it.

    “Dear Justin, Noted with thanks. We will revert to you as soon as possible. Regards, HotChix”

    Noted with thanks? Revert to you?

    Oh my brain cells. Please stop writing like that people. It’s totally wrong.

    I hope blogging fixes my English. If it doesn’t then I’m in big trouble.