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Thread: Singapore is a very rich country?

  1. #61
    Moderator ed9119's Avatar
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    Default Re: Singapore is a very rich country?

    enough armchair talk.... how about doing our personal part to help next couple of weekends at Kapit Pilipinas along Orchard Rd ?
    Last edited by ed9119; 17th November 2013 at 11:29 PM.
    shaddap and just shoot .... up close
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  2. #62

    Default Re: Singapore is a very rich country?

    Quote Originally Posted by jonlee View Post
    Singapore can be number one if we collect rent from the dead.

    http://www.dailymail.co.uk/news/arti...l-payment.html
    Huh ????? rent from the dead ????

    Collect hell money ????

    I eats, shoots & leaves

  3. #63

    Default Re: Singapore is a very rich country?

    Quote Originally Posted by Jedi View Post
    I applauded for you by looking into the interest of the poor people in Singapore. Despite that you are quite well off and living in a very comfortable zone, you did not forget those who are struggling.

    Perhaps you should go into politics so that you can really help those who are in need.
    Hi Jedi, thank you for your kind words. I am more aware perhaps because i have personally seen poverty myself. I grew up in a kampong with no running water (yes, we used a well) and no TV even when I was in primary 6. but perhaps thats a good thing, because books became my constant companion. Anyway, the issue of poverty is now very much on the government's radar. While the government does its part, we as individuals can also do our part, by donating to our favorite charities, volunteering and participating in fund raisers. Haha, no thanks to politics, i am not cut out for it

  4. #64

    Default Re: Singapore is a very rich country?

    Quote Originally Posted by kei1309 View Post
    you're very capable at changing the name of a minister
    good observation, however i did not change his name, but mis-spelled it. apologies to Minister Chan Chun Sing.

  5. #65
    Senior Member edutilos-'s Avatar
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    Default Re: Singapore is a very rich country?

    Quote Originally Posted by davidnn99 View Post
    the issue is not that you cannot afford to buy an iphone. the issue is income inequality, income gap. sure you can go on holiday once a year, but you may have to save up for it and look for the most affordable deal. the rich go at the drop of a hat, a weekend in paris, a cruise on their luxury yatch.

    the issue is you are taxed the same whether you earn $1000 a month or $100,000 a month. sure, the poor gets some GST rebate but they are made to pay for the roads, for the government ivory towers just like the rich. if you are poor, why should you contribute to government infrastructure? you should be getting financial aid instead.

    the poor are just cheap labor for the rich who make you slave for every dollar. so wake up, while you have to save up for your dslr, the rich can buy the latest professional model the moment it comes out and junks it after using it for a few months. so do you still think you are rich ? Singapore is a very rich country, true but are you getting a piece of it ? like someone else posted, 5% are rich, the rest are by no means in the same category. of course you should be thankful you are not starving. but do not go under the illusion you are rich, unless you are in the 5%.

    but my main point is to spare a thought for the many who are struggling to put food on the table. a nation is not rich until every ordinary citizen can have a decent standard of life. can have aspirations, dreams and yes, a dslr . the problem with being smug and self satisfied is that you forget about those who are left behind, because they are voiceless and invisible. thats why you only see the rich flaunting their wealth and forget there re still many poor people in Singapore.
    I'm not sure what you're saying. But people who can afford to go for overseas holidays, or save up for DSLRs, these are not the people who are "struggling to put food on the table". If you call that struggling, then there's something wrong with their priorities if they struggle because they wish to embrace certain luxuries. Those of us who are lucky enough to be able to afford these luxuries (as well as the TIME to indulge in them) should acknowledge this simple fact. Yes, an overseas holiday and a DSLR are both luxuries. The poor are definitely a group present in Singapore, it's just that I'm not too sure if your prose here represents their issues accurately.
    Last edited by edutilos-; 18th November 2013 at 09:09 AM.

  6. #66

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    Summary -

    Income inequality exist like in any other country The difference is in Singapore, it is not given a priority as a national issue despite the government resources available to manage it.

    Singapore is rich, but most of the wealth is in the hands of a few institutions or families.

    the poor is finding difficult to survive (else they won't be poor in the first place) and there is limited financial aid for them. furthermore, their existence are not even acknowledge publicly without a poverty line.

    the government has always maintained that the reserves are for the rainy day ahead. even during the financial crises a few years back only less than 3% of the reserves is taken out, and this has been replenished in the last 2 years.

    Without any pressure, there is no incentive for policies to be changed. Why isn't the poor be given more help?

    it might not affect most of us, since we are concern with Leicas, OMDs, etc , but that does not mean we don't have a part to play.

    Awareness is a good start.
    also, how do we apply pressure at the ballot boxes so that policies are changed?

  7. #67
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    Default Re: Singapore is a very rich country?


  8. #68

    Default Re: Singapore is a very rich country?

    A few years back there was a company called B- A-. It was run by a bunch of pretty smart fellows.
    It specialized in data manipulation. One of its products was an algorithm to model how much a business owner makes based on various matrices and available data. The initial objective was to sell it to the govt tax department, so they can catch people who are underdeclaring taxes.

    Then word got out and certain firms expressed interest in that product. These were big property firms. And they paid good money for it.
    The product is now used to model rent pricings. The firms now know how much a tentant is making, and how much rent can be charged.

    In other words, if shop tentant A decides to work harder this year by working longer hours, and if he makes a profit, that profit will be taken away by the firm through rent.
    If shop tentant B innovates a new product that sells well, and makes big bucks, that profit reward will also be taken away through rent.

    Neutral sounding terms like 'capturing economic surpluses' gets thrown about, but people know the real purpose of the models is to squeeze the tentants without killing them, i.e. modern day capitalist slavery enabled by technology.

    Think you're running a rat race? No, more likely you're trapped in a hamster wheel.

  9. #69

    Default Re: Singapore is a very rich country?

    Seriously ? Now why don't we make similar software analyzing how much property firms make and sell this software to the taxman

  10. #70

    Default Re: Singapore is a very rich country?

    Quote Originally Posted by hanzohattori View Post
    Seriously ? Now why don't we make similar software analyzing how much property firms make and sell this software to the taxman
    Because the way corporations avoid tax is not just simply underdeclaration.
    But the taxmen already have similar algorithms designed to flag suspicious people.

  11. #71

  12. #72
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    Default Re: Singapore is a very rich country?

    That is because Singapore ticks all the right boxes.

    ☑ Stability

    ☑ No racial conflict

    ☑ No natural disasters

    ☑ Low crime (Johor fails this badly)

    ☑ Good infrastructure

    ☑ Well educated population

    ☑ Peace with neighbours

    ☑ No religious extremism

    ☑ Population equally at home with East and West

    ☑ Good transportation links and airport



    Last edited by ricohflex; 23rd November 2013 at 11:49 AM.

  13. #73

    Default Re: Singapore is a very rich country?

    Quote Originally Posted by UncleFai View Post
    More precise to say we attract rich tourists:

    http://www.forbes.com/sites/neerjaje...ts-many-myths/
    Quote Originally Posted by ricohflex View Post
    That is because Singapore ticks all the right boxes.

    ☑ Stability

    ☑ No racial conflict

    ☑ No natural disasters

    ☑ Low crime (Johor fails this badly)

    ☑ Good infrastructure

    ☑ Well educated population

    ☑ Peace with neighbours

    ☑ No religious extremism

    ☑ Population equally at home with East and West

    ☑ Good transportation links and airport



    Bingo! You got them right. Singapore not only attract affluent tourists but also foreign investors parking their monies here.

  14. #74

    Default Re: Singapore is a very rich country?

    We cannot say that every Singaporean is a millionaire but we can say that many of them are affluent/well-off/Rich. I can categorise them into the following - (the list is not exhaustive)

    Public and Sub-public Sectors

    1) President / PM

    2) All current ministers / MPs / personnel's holding any ministerial posts

    3) Top ranking civil servants in all ministries / statutory boards

    4) Directors or any form of directorship/Senior Management positions in Temasek and GIC

    5) Directors or any form of directorship/Senior Management positions in GLC group of companies

    6) School Vice-principal / Principal

    7) Dean / Professor / Associate Pro / Asst. Pro / Senior Lecturers in local Universities

    8) Senior Lecturers in local Polytechnics


    Private Sector

    1) All directors and Senior Management whose companies are listed in SGX

    2) Senior positions in listed companies

    3) Bosses / Families related of SMEs

    For no. 2, these are the companies that are not listed in SGX. Here are some of the well known companies.

    i) Ya Kun
    ii) Boon Tong Kee Chicken Rice
    iii) Killiney Kopitiam
    iv) No Signboard Seafood
    v) Baganwa Solo
    vi) Jollibee
    vii) Rochor Beancurd

    The list can go on...

    Therefore, you can estimate how affluent are Singaporeans. For example, if you know the boss of Killiney Kopitiam aka Mr Woon, you will know how wealthy he is.

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