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Blk 685 woodlands drive 73 multi storey carpark. The parking lot was cordoned off as "danger." since morning. Until Mr Vikram Nair, PAP MP for Sembawang GRC arrives, It's a safe zone to park. Is he our supreme leader too? http://www.facebook.com/photo.php?fbid=529...e=1&theater

http://www.straitstimes.com/GeneralElectio...ory_657477.html LOWERING land cost as a way to reduce new Housing Board flat prices is tantamount to raiding Singapore's reserves, warned National Development Minister Mah Bow Tan on Saturday. This is because all land is sold at prices set by the Chief Valuer, and the land sale proceeds go into the reserves. In the latest salvo on the hot-button housing issue, Mr Mah stressed that as the number of new HDB flats is not a small, any lowering of prices will inevitably affect the value of existing HDB flats. Mr Mah was responding to a call from Workers' Party chief Low Thia Khiang who had suggested that if the Government was prepared to collect less money for land sales, the savings could be passed on to first-time home buyers. Speaking to reporters on the sidelines of a ground-breaking ceremony for an upgrading programme for Tampines, which will see a new town hub with facilities such as a sports hall and a new park, Mr Mah said: 'When he says that I'm going to finance this by lowering the value of land, basically what he's doing is taking money from the reserves. 'It is not a matter of left pocket to right pocket, it's a matter of taking, dipping into the reserves.' Mr Mah declined a debate with the National Solitary Party, which has announced it is contesting the GRC. He said there is 'nothing to debate' as his positions on housing and various policies are well known. With the minister at the community event on Saturday morning were newly-introduced People's Action Party (PAP) candidates Heng Swee Keat and Steve Tan.

Questions: When PAP increase Ministers and President pay and creating MM,SM position out if thin air each iwth 3-4 mil salary exc bonus and GIC losing billions, are these rading teh reserves too? When you keep increasing withdrawal age, is this also akeen to raiding the citizens' cpf reserves for old age initially defined as 55yo??? ******************************************************************************** **************************************************************** SINGAPORE: National Development Minister Mah Bow Tan has said that lowering the price of state land is equivalent to taking money from Singapore's reserves. Mr Mah was rebutting comments made by Workers' Party (WP) Secretary-General Low Thia Khiang, who had suggested that if the government was prepared to collect less money from land sales, homes can be cheaper. Speaking to reporters on the sidelines of a community event on Saturday, Mr Mah stressed that state land is a part of Singapore's reserves which cannot be raided. He said: "That is precisely what the elected presidency was meant to do, to protect our reserves, to prevent political parties during election time from coming up with all sorts of promises to say, 'oh, I'm going to take money from the reserves to do this, that and the other'." Mr Mah also stressed that the number of new HDB flats is not small, and the lowering of prices will inevitably affect the value of resale homes. He said: "Of course, WP says, 'don't worry, it's only going to come later'. As I've said, that's very small comfort. That's like telling people, 'don't worry, the tsunami is coming, it's only going to hit us a few hours later'. But I say 'no, it's going to hit us almost immediately'. Why? because all the markets are inter-linked." Mr Mah also turned down a proposal by the opposition to have a televised debate. National Solidarity Party (NSP) secretary-general Goh Meng Seng has challenged Mr Mah to a debate on housing, which is seen as a hot-button issue in the upcoming General Election. But Minister Mah shot down the suggestion, saying the government's position on housing is clear. "(What's) more important is for the opposition parties including Workers' Party, NSP, who are all intending to say, 'oh, let's reduce house prices by giving more subsidy'.....to really, honestly tell us how much it's going to cost, and where they are going to get the money from," added Mr Mah. The minister was speaking to reporters after breaking ground for a new community plaza at Tampines. Mr Mah also shared with residents the latest upgrading plans for the estate. He announced that 13 blocks have been selected for the Neighbourhood Renewal Programme. They are blocks 201, 201A, 201B, 201C, 201D, 201E, 211, 212, 213, 214, 225, 226 and 227 at Tampines Street 21 and 23. Also at the event were two new PAP candidates - unionist Steve Tan and former Monetary Authority of Singapore (MAS) managing director Heng Swee Keat. The NSP, which says it will contest Tampines GRC, plans to question Mr Heng on the authority's role in the minibonds saga of 2008. Mr Heng said he welcomed any contest, adding: "We have come up with a very rigorous and fair process to deal with issues of investors' protection. So I think we have gone all out to do our best." Mr Heng also said he has been meeting residents in Tampines for the past two weeks and has received positive feedback. -CNA/ir

What would you do if you happen to have spare cash amounting to SGD400k/- SGD500k/- lying around? Banks are offering good fixed deposit rates for foreign currencies,is it any good? Should you invest in a few properties in Msia and rent it out? Buy a small size condo near town and rent it out? Seriously,im thinking of low risk investments here

curious to see what you guys did with your SBO, helmet, boots etc after MR (reach 40/finish all ICT) do you keep any stuff for emergency/camping etc.. or all gave to foreign workers (must be, cause so many of them wearing at worksites!!) or kept for sentimental reasons (ha ha) or keep on stand by in case Mindef Reserves are activated!!

Heard on the radio that the PM saying how Spores strong national reserves is going to help weather the current crisis??? I was puzzled as to how its relevant to ordinary peasants. The cost of electricity, food, oil, .... is up. Can anyone tell me how the state of the national reserves is going to help me?

S'pore to amend Constitution to draw more income from reserves By Ng Baoying, Channel NewsAsia | Posted: 15 September 2008 1756 hrs SINGAPORE: The government wants to increase the amount of income it can spend from investing Singapore's reserves. This requires an amendment to the Constitution, which was tabled in Parliament on Monday. Singapore's aging population means higher social spending in future. Coupled with plans to develop the country's capacity and overall competitiveness, it means government expenditure is going up. Part of this extra spending is being funded by the Goods and Services Tax, which was raised from 5 per cent to 7 per cent last July. But to preserve a competitive tax environment, the government has said that raising taxes is not the preferred option. So it is now looking at other ways, such as what it can use from the country's investment income. This follows studies on how large state funds in other countries operate. Currently, the government can spend up to 50 per cent of actual interest and dividend income gained from investing Singapore's reserves. This spending rule is meant to safeguard the country's reserves. The government now wants to expand the pool of investment returns to include capital gains and losses, while maintaining the 50 per cent spending cap. It will look at total returns on a long-term expected basis, over 15-20 years, to avoid inherent volatility of actual capital gains and losses. Inflation will also be taken in account. The proposed new framework will apply to assets managed by the Government of Singapore Investment Corporation (GIC) and those owned by the Monetary Authority of Singapore (MAS). Other assets, which include Temasek Holdings, will still use the existing formula. The idea of redefining the income that the government could spend from investing Singapore's reserves was first mentioned in Budget 2007 and again in Budget 2008. The Finance Minister is expected to elaborate further on this amendment later in the year. If the amendment to the Constitution is passed, the changes will take effect at the next Budget in 2009.

great news.... might push the price of oil down!!! http://sg.news.yahoo.com/afp/20071109/tts-...il-c1b2fc3.html