Wednesday, February 11, 2009
Funny Quote
"The odds that one person is carrying a bomb on a plane are 500,000 to one. The odds that two people are each carrying a bomb on a plane are five billion to one. So to be safe, always carry a bomb with you when you fly."
Labels: humour
Sunday, February 08, 2009
Cause and Effect
There was an interesting article in the paper this week about record number of students applying for Polys instead of JCs. Well I have a theory on this trend. There are 2 reasons:
1) It's now more difficult to get into the universities in Singapore than in the past. Everyone has heard of their own anecdote of how there are/were dumping ground faculties in universities. However, based on what the press has been printing of late, that doesn't seem to be true anymore. And an A Level student without a degreee has very limited career prospects. The best paying job one can find would probably be a relief teacher. Even then, it's a temporary solution at best.
2) Diploma vs A Level cert. On their own merits alone, a diploma will get you further. You can get fairly decent employment with a diploma compared to an A Level cert. A level qualification was never meant to be on its own. It has always been as a stepping stone to a Degree and so on.
Even with the upcoming 4th Uni coming up, I foresee this trend continuing unless we give more preference to our own students. However as this article will show :http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_335100.html, not likely.
1) It's now more difficult to get into the universities in Singapore than in the past. Everyone has heard of their own anecdote of how there are/were dumping ground faculties in universities. However, based on what the press has been printing of late, that doesn't seem to be true anymore. And an A Level student without a degreee has very limited career prospects. The best paying job one can find would probably be a relief teacher. Even then, it's a temporary solution at best.
2) Diploma vs A Level cert. On their own merits alone, a diploma will get you further. You can get fairly decent employment with a diploma compared to an A Level cert. A level qualification was never meant to be on its own. It has always been as a stepping stone to a Degree and so on.
Even with the upcoming 4th Uni coming up, I foresee this trend continuing unless we give more preference to our own students. However as this article will show :http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_335100.html, not likely.
Labels: current affairs, education
Saturday, February 07, 2009
Eh?
Kuo Chuan Presbyterian Primary (KCPPS) has a “Remedial Programme for Mathematics”, which starts at 6.50am every Thursday and Friday.
Parents were unhappy about them naturally, and I would be too. On one hand, we have policy makers trying to make school start later (which is good, and I'm all for it). Schools starting later also benefit a lot of other people in the country, which I may go into in the future.
However, TNP noted a parent with a daughter in another school as saying that the early remedial classes were a good idea. This parent was of the view that having such classes after school might tire out students even more, since many had CCAs that finished late.
What the heck? How does waking up early and going to school early not tire the kids? Is this parent suffering from brain damage?
Labels: current affairs, stupid singaporeans
Guess who might be stuck holding a large sack of crap?
Ho Ching to quit Temasek
She will be succeeded by ex-BHP's Goodyear.
By Ignatius Low, Money Editor
AFTER more than six years at Temasek Holdings, Ms Ho Ching, 55, is stepping down as its chief executive officer, making way for an American who will take the helm in October.
Charles W. Goodyear, 51, the former boss of mining giant BHP Billiton, will be appointed CEO-designate on March 1 and he will officially take over from Ms Ho, after a six-month transition period, on Oct 1.
The news took most by surprise on Friday and immediately sparked speculation as to the reason for Ms Ho's departure.
Addressing the issue at a media conference on Friday afternoon, Temasek chairman S. Dhanabalan said the investment company had been mulling the question of who would succeed Ms Ho as CEO since early 2005.
Then, in 2007, it found its man in Mr Goodyear.
'The availability of a very qualified and suitable candidate triggered the Board and Ho Ching to consider a change of leadership in Temasek,' he said.
'Since then, Ho Ching and the Board have been engaged in due dillgence and in trying to attract Chip in as Ho Ching's successor.'
Temasek, which managed $185 billion in assets as at end-March last year, has seen the value of its investments fall in tandem with global markets, following the financial crisis which erupted last September.
The company is currently staring at paper losses running into the billions, having taken major stakes in international banks like Barclays and Merrill Lynch.
Mr Dhanabalan on Friday dismissed talk that these 'losses', as well those from the company's investments in Thailand's Shin Corp, were the reason for Ms Ho's departure
'Absolutely not... It has got nothing to do with performance,' he said emphatically.
He added: 'I would be a little cautious in coming to the conclucion that these investments are losses because we have a long term view about investments.
'It's too early to say whther some of them will, in fact, result in a big loss.'
Temasek has also taken large stakes in Standard Chartered Plc, DBS Group Holdings Ltd and Barclays Plc.
Mr Dhanabalan said Ms Ho's resignation has 'got nothing to do with performance'.
Wife of Prime Minister Lee Hsien Loong, Ms Ho was appointed to Temasek's board in early 2002 and became chief executive in January 2004.
She was hired 'purely on the basis of merit and not on her relationship with anyone', said Mr Dhanabalan.
Ms Ho said she has not decided what she will do after vacating the CEO's office on Oct 1. She will also resign from the board of directors.
'Chip brings capabilities that I don't have,' she said. 'I don't see myself as needing to direct it in any way.'
Shock over Ho's departure
By Alvin Foo and Francis Chan
SHOCK was the main initial reaction among the local financial and business community at the news that Ms Ho Ching is to step down later this year as Temasek Holdings' chief executive.
Industry leaders, analysts, academics and fund managers were still coming to grips with the news, but most agreed that with or without Ms Ho, Temasek will still remain a global corporate titan.
Former BHP Billiton chief executive Charles 'Chip' W Goodyear will be taking over the hot seat when Ms Ho steps down in October.
CIMB-GK economist Song Seng Wun said: 'I'm taken aback by the timing. It's been a most difficult period for Temasek given their paper losses.'
Mr Wong Kok Hoi, APS Asset Management's chief investment officer, said: 'The whole industry is surprised by the announcement. Nobody expected the timing.'
Despite their shock, most, like Singapore International Chamber of Commerce chief executive Phillip Overmyer, believe the Singapore investment company will carry on without a hitch.
'Temasek is such a strong company, with a very capable board, and that means it will continue to get on with business - missing her, but never missing a beat,' he said.
Others, however, saw the appointment of Mr Goodyear - an American and another non-Singaporean in a key role at Temasek after New Zealander Simon Israel - as a move to make the organisation politically less controversial.
Mr Israel joined Temasek in 2006 as its second executive director after a stint as Asia-Pacific chairman of French food and beverage group Danone.
Senior research fellow at the Institute of Policy Studies, Dr Gillian Koh, said: 'The criticism from the outside-in perspective, levelled at Temasek has been that it is too close to the Government.
'These two personalities in particular re-emphasise that this entity is being run on a commercial basis.'
With reference to my last post, the exit looks kind of .. convenient.. yes sure there's the whole wanting to find a replacement since 2005. Woulda coulda shoulda.. sounds like a shady cover-up. Things are going south faster than an anvil at terminal velocity so time to pass the buck. Can't let someone so high profile be seen holding a sack of crap. Contrary to what the official press release is, sounds like a real spin job is being done. Welcome Charles W. Goodyear, sorry you're the sad sack that's stuck holding the bag of crap. Hope you survive the experience.
She will be succeeded by ex-BHP's Goodyear.
By Ignatius Low, Money Editor
AFTER more than six years at Temasek Holdings, Ms Ho Ching, 55, is stepping down as its chief executive officer, making way for an American who will take the helm in October.
Charles W. Goodyear, 51, the former boss of mining giant BHP Billiton, will be appointed CEO-designate on March 1 and he will officially take over from Ms Ho, after a six-month transition period, on Oct 1.
The news took most by surprise on Friday and immediately sparked speculation as to the reason for Ms Ho's departure.
Addressing the issue at a media conference on Friday afternoon, Temasek chairman S. Dhanabalan said the investment company had been mulling the question of who would succeed Ms Ho as CEO since early 2005.
Then, in 2007, it found its man in Mr Goodyear.
'The availability of a very qualified and suitable candidate triggered the Board and Ho Ching to consider a change of leadership in Temasek,' he said.
'Since then, Ho Ching and the Board have been engaged in due dillgence and in trying to attract Chip in as Ho Ching's successor.'
Temasek, which managed $185 billion in assets as at end-March last year, has seen the value of its investments fall in tandem with global markets, following the financial crisis which erupted last September.
The company is currently staring at paper losses running into the billions, having taken major stakes in international banks like Barclays and Merrill Lynch.
Mr Dhanabalan on Friday dismissed talk that these 'losses', as well those from the company's investments in Thailand's Shin Corp, were the reason for Ms Ho's departure
'Absolutely not... It has got nothing to do with performance,' he said emphatically.
He added: 'I would be a little cautious in coming to the conclucion that these investments are losses because we have a long term view about investments.
'It's too early to say whther some of them will, in fact, result in a big loss.'
Temasek has also taken large stakes in Standard Chartered Plc, DBS Group Holdings Ltd and Barclays Plc.
Mr Dhanabalan said Ms Ho's resignation has 'got nothing to do with performance'.
Wife of Prime Minister Lee Hsien Loong, Ms Ho was appointed to Temasek's board in early 2002 and became chief executive in January 2004.
She was hired 'purely on the basis of merit and not on her relationship with anyone', said Mr Dhanabalan.
Ms Ho said she has not decided what she will do after vacating the CEO's office on Oct 1. She will also resign from the board of directors.
'Chip brings capabilities that I don't have,' she said. 'I don't see myself as needing to direct it in any way.'
Shock over Ho's departure
By Alvin Foo and Francis Chan
SHOCK was the main initial reaction among the local financial and business community at the news that Ms Ho Ching is to step down later this year as Temasek Holdings' chief executive.
Industry leaders, analysts, academics and fund managers were still coming to grips with the news, but most agreed that with or without Ms Ho, Temasek will still remain a global corporate titan.
Former BHP Billiton chief executive Charles 'Chip' W Goodyear will be taking over the hot seat when Ms Ho steps down in October.
CIMB-GK economist Song Seng Wun said: 'I'm taken aback by the timing. It's been a most difficult period for Temasek given their paper losses.'
Mr Wong Kok Hoi, APS Asset Management's chief investment officer, said: 'The whole industry is surprised by the announcement. Nobody expected the timing.'
Despite their shock, most, like Singapore International Chamber of Commerce chief executive Phillip Overmyer, believe the Singapore investment company will carry on without a hitch.
'Temasek is such a strong company, with a very capable board, and that means it will continue to get on with business - missing her, but never missing a beat,' he said.
Others, however, saw the appointment of Mr Goodyear - an American and another non-Singaporean in a key role at Temasek after New Zealander Simon Israel - as a move to make the organisation politically less controversial.
Mr Israel joined Temasek in 2006 as its second executive director after a stint as Asia-Pacific chairman of French food and beverage group Danone.
Senior research fellow at the Institute of Policy Studies, Dr Gillian Koh, said: 'The criticism from the outside-in perspective, levelled at Temasek has been that it is too close to the Government.
'These two personalities in particular re-emphasise that this entity is being run on a commercial basis.'
With reference to my last post, the exit looks kind of .. convenient.. yes sure there's the whole wanting to find a replacement since 2005. Woulda coulda shoulda.. sounds like a shady cover-up. Things are going south faster than an anvil at terminal velocity so time to pass the buck. Can't let someone so high profile be seen holding a sack of crap. Contrary to what the official press release is, sounds like a real spin job is being done. Welcome Charles W. Goodyear, sorry you're the sad sack that's stuck holding the bag of crap. Hope you survive the experience.
Labels: current affairs, sinkingship, stupid policies
Monday, February 02, 2009
Compare and Contrast
From 1 side of the spectrum: Dr Tony Tan yesterday finally confirmed that Spore Inc suffered paper loss of S$260 billion,probably a world record.Dr Tan disclosed that GIC had portfolio value of US$300 billion(S$450 billion),and we know fr TMS's report that TMS has portfolio value of S$200 billion.So a total investment value of S$650 billion,built up mainly by Spore citizens over the last 50 years.
Minister Tharman confirmed that Spore Inc's loss was around 40%,so a loss of S$260 billion.BUSINESS987fm.sg/vgn-ext-templating/v/index.jsp?vgnextoid=fddd870f77eee110VgnVCM1000001f0aa8c0RCRUpdated: 19th January 2009, 1710 hrsGIC, Temasek outperform market:
Tharman Shanmugaratnam
The value of the investments of the Government of Singapore Investment Corp (GIC), and Temasek Holdings fell less than the decline in global equity markets last year.In a written response to queries in parliament today about the extent of losses suffered by the two investment firms in 2008, Finance Minister Tharman Shanmugratnam said investments by the two firms have inevitably been affected amid the financial turmoil.But he said the two investment companies lowered their holdings in equities early in the crisis, which helped them post a smaller drop in their portfolios.
He added that GIC and Temasek¡¯s strategies also put them in a position to take advantage of any opportunities that may arise from the current downturn.The MSCI World Equities fell 42 percent last year while the MSCI Singapore fell by over 50 percent.
From the other side of it: Struggles of a 76 year old Singapore Street Scavanger
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=11827683&ch=4226714&src=news
Somewhere on the spectrum (tending towards the stupid side):
Hong Kong cafe is dumb. It's overpriced for small portions which are average dishes. Instant noodles at premium prices? That's insane. You'd think it'd be a dumb idea right? Well according to today's Straits Times, the owner "loves to rub it in" because family and friends told him that singaporeans would never pay cafe prices for instant noodles. Why are some people so dumb?
Minister Tharman confirmed that Spore Inc's loss was around 40%,so a loss of S$260 billion.BUSINESS987fm.sg/vgn-ext-templating/v/index.jsp?vgnextoid=fddd870f77eee110VgnVCM1000001f0aa8c0RCRUpdated: 19th January 2009, 1710 hrsGIC, Temasek outperform market:
Tharman Shanmugaratnam
The value of the investments of the Government of Singapore Investment Corp (GIC), and Temasek Holdings fell less than the decline in global equity markets last year.In a written response to queries in parliament today about the extent of losses suffered by the two investment firms in 2008, Finance Minister Tharman Shanmugratnam said investments by the two firms have inevitably been affected amid the financial turmoil.But he said the two investment companies lowered their holdings in equities early in the crisis, which helped them post a smaller drop in their portfolios.
He added that GIC and Temasek¡¯s strategies also put them in a position to take advantage of any opportunities that may arise from the current downturn.The MSCI World Equities fell 42 percent last year while the MSCI Singapore fell by over 50 percent.
From the other side of it: Struggles of a 76 year old Singapore Street Scavanger
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=11827683&ch=4226714&src=news
Somewhere on the spectrum (tending towards the stupid side):
Hong Kong cafe is dumb. It's overpriced for small portions which are average dishes. Instant noodles at premium prices? That's insane. You'd think it'd be a dumb idea right? Well according to today's Straits Times, the owner "loves to rub it in" because family and friends told him that singaporeans would never pay cafe prices for instant noodles. Why are some people so dumb?
Labels: current affairs, stupid policies, stupid singaporeans
Sunday, February 01, 2009
Getting out at the right time..
Chartered Semiconductor Manufacturing Ltd. said it would cut 600 jobs, about 8% of its global work force, as it swung to a fourth-quarter net loss amid a drop-off in demand and delayed deliveries.Its American depositary shares rose 4.5% to $1.63 in after-hours trading as the Singapore-based chip foundry posted its second consecutive quarterly loss. The stock price has fallen 77% since May.
Chartered said it expects to save about $16 million a year with the latest job cuts. It plans a $8 million related charge in the first quarter.Chief Executive Chia Song Hwee said the job cuts, which total 1,300 since the third quarter, are "a prudent business decision" and part of managing cash and liquidity. The company also plans to reduce capital spending by 35% to $375 million this year from a year earlier.In the fourth quarter, the semiconductor company reported a net loss of $114 million, or 46 cents per American depositary share, compared with net income of $5.9 million, or 1 cent per ADS, a year earlier. Revenue slid 0.3% to $351.7 million.
Chartered cut its forecast last month to a loss of 30 cents to 34 cents a share on revenue of $343 million to $353 million.Gross margin fell to 3.9% from 17.2%. Shipments declined 9.1%, while the average selling price of eight-inch equivalent wafers rose 1.1%.Capacity utilization fell to 59% from 81%.Macquarie warned in an analyst note last week that Chartered risks breaching debt covenants if its utilization doesn't improve.Along with others in the industry, Chartered, which makes chips for set-top boxes, video-game devices, and MP3 and DVD players, is facing declining demand and increasing competition.
It has cut contract jobs and 2009 capital spending, eliminated overtime and temporarily closed plants, and lowered salaries on a short-term basis.The company has been rumored to be in search of a strategic investor but two possible buyers, United Microelectronics Corp. and Taiwan Semiconductor Manufacturing Corp., recently expressed no interest.
Privatization by Singapore's state investment fund Temasek Holdings Pte. Ltd. , which owns 67% of the company, is a possibility.Looking ahead, Chartered expects a first-quarter loss of 57 cents to 61 cents per ADS on revenue of $232 million to $244 million.
When I left my former company, 2 senior staff sat me down to talk to me. (Not including my manager). 1 of them was actually the main reason why I got the previous job even though I didn't meet the qualifications. He told me later that he saw potential in me. I guess he was kind of disappointed in me. Same for the other guy who spoke to me. Except the other guy was more.. vocal about his disappointment. Long story short, both felt that I was giving up too easily and that there was a future in this line. That first you suffer then things get better after 5 years. There was also a bunch of other stuff that made me quite annoyed then. However, looking back, I realised that I made the right choice. If I had stayed, I'd now have gotten a pay cut, possibly also have an uncertain future. I've just been informed that my former department has been shut down since the 24th of Jan and re-opening only on the 3rd of Feb. During this period, it was announced to the press that major retrenchments were being done. An excellent screw job of the staff. Anyway my concern still goes out to the friends I made there who do their best to make the best out of a really bad situation.
Chartered said it expects to save about $16 million a year with the latest job cuts. It plans a $8 million related charge in the first quarter.Chief Executive Chia Song Hwee said the job cuts, which total 1,300 since the third quarter, are "a prudent business decision" and part of managing cash and liquidity. The company also plans to reduce capital spending by 35% to $375 million this year from a year earlier.In the fourth quarter, the semiconductor company reported a net loss of $114 million, or 46 cents per American depositary share, compared with net income of $5.9 million, or 1 cent per ADS, a year earlier. Revenue slid 0.3% to $351.7 million.
Chartered cut its forecast last month to a loss of 30 cents to 34 cents a share on revenue of $343 million to $353 million.Gross margin fell to 3.9% from 17.2%. Shipments declined 9.1%, while the average selling price of eight-inch equivalent wafers rose 1.1%.Capacity utilization fell to 59% from 81%.Macquarie warned in an analyst note last week that Chartered risks breaching debt covenants if its utilization doesn't improve.Along with others in the industry, Chartered, which makes chips for set-top boxes, video-game devices, and MP3 and DVD players, is facing declining demand and increasing competition.
It has cut contract jobs and 2009 capital spending, eliminated overtime and temporarily closed plants, and lowered salaries on a short-term basis.The company has been rumored to be in search of a strategic investor but two possible buyers, United Microelectronics Corp. and Taiwan Semiconductor Manufacturing Corp., recently expressed no interest.
Privatization by Singapore's state investment fund Temasek Holdings Pte. Ltd. , which owns 67% of the company, is a possibility.Looking ahead, Chartered expects a first-quarter loss of 57 cents to 61 cents per ADS on revenue of $232 million to $244 million.
When I left my former company, 2 senior staff sat me down to talk to me. (Not including my manager). 1 of them was actually the main reason why I got the previous job even though I didn't meet the qualifications. He told me later that he saw potential in me. I guess he was kind of disappointed in me. Same for the other guy who spoke to me. Except the other guy was more.. vocal about his disappointment. Long story short, both felt that I was giving up too easily and that there was a future in this line. That first you suffer then things get better after 5 years. There was also a bunch of other stuff that made me quite annoyed then. However, looking back, I realised that I made the right choice. If I had stayed, I'd now have gotten a pay cut, possibly also have an uncertain future. I've just been informed that my former department has been shut down since the 24th of Jan and re-opening only on the 3rd of Feb. During this period, it was announced to the press that major retrenchments were being done. An excellent screw job of the staff. Anyway my concern still goes out to the friends I made there who do their best to make the best out of a really bad situation.
Labels: current affairs, down the toilet
