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Showing posts from August, 2009

Suddenly remembered my $40 Challenger voucher

I was doing some documentation at work with half eyes closed when I suddenly remembered I have a $40 Challenger voucher waiting for me to be redeemed. I was told by one of their customer service officer that I must collect the voucher by end of August which so happen to be by today. Just what exactly made me recall the redemption still left me puzzled.

I quickly made a call to the Challenger to arrange for an extension. I must remember to collect the $40 voucher by this week!

Looks like I keep recalling things.

Very participative discussion in class today

I had one of my most participative discussion in any Master class/lecture today, partly due to the relative small class group in nature. We discussed on topics of the essence and accidents of software engineering and the many different project management aspects related to software.

The lecturer is surprisingly friendly and open to debates make the discussion all the more livelier. I manage to keep myself 100% awake for the entire 2 hours.

My Pledge

ALRIGHT, I have decided to take up a freelance project after almost 2 months of consideration (I never replied him all along). I thought I should just use this project to test my own limit to keep my brain working once again. My brain has been pretty lethargic and slow in processing for the past few months. MIPS needs to be increased!

The newly added workload is not going to make me feel more time constrained, but rather, I am going to make sure I have more spare time for other stuff.

I am going to make sure my productivity is raised.

I am going to cut down on some of the habits I used to shun but have since picked up recently.

I am never going to use the word "tired" again.

I am going to get back to my Uni days' shape.

I am going to find back my motivation.

I am going to stop procrastinating and get myself PMP certified as soon as possible instead of wasting my time postponing it the first time round.

I am going to make sure my productivity level is to go up and more personal t…

No Silver Bullet: Essence and Accidents of Software Engineering

No Silver Bullet: Essence and Accidents of Software Engineering is a widely discussed paper on software engineering. It argues that there is no single development which by itself guarantees even one order of magnitude improvement within a decade in productivity, in reliability and in simplicity. There is no way we see similar in hardware development where there is two-fold gains every two years.

It is a long article but nevertheless interesting.

No Silver Bullet: Essence and Accidents of Software Engineering [via]


陈绮贞的歌 gives me a laid back, feels good kinda feeling. I have been listening to them while reading my never ending papers.

陈绮贞的歌就是有魔力。听了第一次就爱上了。 The only reason for using a mixed of English and Chinese is simply because my Chinese is too weak. Ooops!

Celebrating 51st Birthday of Michael Jackson

How much should we be insured?

According to a report published a week ago, an average Singaporean needs life insurance protection of $494,851. However, an average life cover for today is only $165,628, which already includes mortgage insurance and CPF savings. The amount of protection needs should ensure it is sufficient to provide enough cash to maintain dependants' current living standards, cover any outstanding debts and funeral expenses.

I did a rough estimation that decades down the road, factoring in inflation and ever increasing hospitalisation fee that usually increases faster than inflation, I am not adequately insured. So, should I buy term, limited life, traditional life, or ILP to raise my current low insured amount to a more comfortable level?

S'poreans under-insured [via]

EZ-Link Season Pass SO SO Expensive

The EZ-Link Season Pass is a travel pass that allows unlimited travel on Singapore’s basic bus services* and rail services (MRT and LRT) within the period of validity of the Season Pass type purchased.

With $155 a month, commuter enjoys 4 train rides a day and unlimited bus trips. Even though the promotional cost of $155 is $15 cheaper than normal, I personally still find it very expensive. If the transport authority wishes to encourage the use of public transport, then they should lower it further.

About the EZ-Link Season Pass [via]

A talk with a colleague on his last day

I had a talk with a colleague yesterday on his plans after his last day of employment. I regretted for not able to make it for his farewell lunch last Wednesday because I was at site.

I called and met up with him yesterday and ended up chit-chatting with him for 45 minutes. I learnt that he intended to take a 3 months break from work and just go ahead his 1-man 3 months backpacked trip around Southeast Asia. I admire his courage and determination to travel alone for such a long period especially in countries which do not speak English and Mandarin. His aspirations to travel alone and explore the world sort of aspired me to try travelling alone one day. Perhaps I shall try Taiwan one day.

Abramovich keen to stop big-spending City

Chelsea's billionaire owner Roman Abramovich is determined to back a UEFA proposal that would stop the efforts of heavy spending Manchester City to dominate English and European football. So far, City owner Sheikh Mansour bin Zayed Al Nahyan has spent £120m in this transfer window (2008) alone to boost the standard of football in City. To prevent City from becoming a powerhouse like Chelsea, Abramovich is supporting an initiative to prevent City from spending too much. It appears funny to me since Abramovich himself spent an approximately £700m on transforming Chelsea (the Blues) into one of football's big hitters over the last six years and this average to about £116m a year, which is close to City's 2008 spendings. Due to the global credit crunch, Abramovich has limited his spendings to a mere £23m in the current transfer window.

In my opinion, the new initiative in controlling over-spending is a good start in reinstating sense back into English and European soccer. It wo…

Google logo shows in ascii art when you search for "ascii art"

If you google for the word "ascii art", you will see Google's logo in ascii art too. This is interesting!

According to the Wikipedia,

ASCII art is a graphic design technique that utilizes computers for presentation and consists of pictures pieced together from the 95 printable (from a total of 128) characters defined by the ASCII Standard from 1963 and ASCII compliant character sets with proprietary extended characters (beyond the 128 characters of standard 7-bit ASCII). The term is also loosely used to refer to text based art in general.

Google Ascii Art [via]

Mandarin Speaking Mona Lisa

Leonardo Da Vinci most famous art "Mona Lisa" can now converse in mandarin. This is possible with the use of 3D technology, holographic technology, and voice recognition technology. The "talking" Mona Lisa is exhibited in the "World Classic Interactive Arts Exhibition" which opened in Beijing last week. Other than "Mona Lisa", da Vinci's other famous painting "The Last Supper" is also exhibited. "The Last Supper" exhibit is digitally brought to life, in which Jesus talks to the apostles and moves across the plasma canvas.

"Mona Lisa" Turned into Interactive Hologram [via]

Gmail finally adds Contact Picker

After more than 5 years, Google Gmail finally adds a VERY basic feature - Contact Picker when composing an email. Previously, the only method to add recipients when composing an email is relying on the auto-complete feature. From now onwards, you can add additional or remove existing recipients from its new Contact Picker. To launch the new Contact Picker, you have to click on "To:" link (or Cc:/Bcc:).

Composing a message? Try the contact chooser [via]

Extremely tight security in sensitive areas

For the past few days, I noticed the security level imposed in sensitive areas are raised to a level I never seen before. My guess for this beefed-up security is all because of a rumoured sabotage on APEC event to be held in Singapore this coming November. This is the first time I saw 2 military guards standing on an auto jeep, mounted with a machine gun, pointing at incoming vehicles near the guard house in case there are intruders. Checks on all incoming vehicles and visitors were both stringent and thorough.

Keep it up!

Taxman nets $30b

THE taxman collected almost $30 billion in taxes from individuals and companies in the last financial year. That is an increase of 2.4%.

If I remember correctly, $5b can be used to build the Circle Line.

Taxman nets $30b [via]

Queuing to buy a stock tomorrow

After a week of research, I have picked a stock for its dividend. From history trends, dividend yield for the stock is more than 5%. Hope I can get it tomorrow.

The reason for going for stocks with consistent high dividend distribution is because I believe a company capable in giving high and consistent dividends is likely to have a long-term sustained growth strategy and good management. Going for fundamentals is the right way to go. Playing catch-up with ups-and-downs using technical analysis is bad for the weak hearted.

AXS Machines with the new D-Pay service accepts only POSB/DBS and Citibank

Since late last year, I noticed there is this new AXS machines with D-Pay services. Near the number-pad, there is this very prominent label showing logos of DBS Bank, POSB and Citibank. My first interpretation is that D-Pay services are available only for these 3 banks.

Today, a friend of mine confirmed that these new AXS machines in fact accept ATM transactions only from the 3 banks - DBS Bank, POSB and Citibank. I was stunned!

From AXS website, it reads,

"The new payment environment is currently available over 180 AXS Stations, which ATM cardholders from DBS Bank, POSB and Citibank are able to carry out their transactions. More banks and financial institutions are expected to announce their participation by end this year. When ATM cards from other local banks are successfully accepted by the new mode, AXS will plan a progressive conversion of all the other AXS Stations to the new payment environment."

Tired standing without much sitting down at work

The work site I am working at does not have many "decent" chairs around for me to rest on. All chairs except 2 are infested by moulds and are not in usable condition.

For the whole of today, I had to either stand around or sit on hard racks with nothing to lean against. My presence for this week's test is merely a supporting role - my service is required only if my advice is needed. I spent my time chit-chatting with my users and reading a 9-pages paper.

What a tiring day of standing! One more day to go!

I own mainly long term growth shares

I currently only hold onto shares that have potential of growth in the long term. To name a few, they are ST Engineering and SMRT. As far as I can, I will hold onto them perpetually and just get dividends. I am currently looking into adding 1 or 2 more high yield blue chips for dividends.

Stocks considered to be of mid-term and cyclical that I currently own are Koh Brothers and Marco Polo Marine. So far, they are both trading above waters. I may consider REITS if they ever start to fall, and some shipping trust when opportunity arrives.

I do have 1 stock that I badly wish to sell off whenever there is an opportunity. I do not understand why I bought that in the first place! The stock is UMS Holdings.

Minister Mentor Lee Kuan Yew's rebuttal of NMP Viswa Sadasivan

Dangerous to let highfalutin ideas go undemolished: MM

Edited transcript of Minister Mentor Lee Kuan Yew's rebuttal of NMP Viswa Sadasivan. -ST

Thu, Aug 20, 2009
The Straits Times

SIR, I had not intended to intervene in any debate. I was doing physiotherapy just now and reading the newspapers and I thought I should bring the House back to earth.

Mr Rajaratnam had great virtues in the midst of despondency after a series of race riots when we were thrown out of Malaysia. Our Malays in Singapore were apprehensive that now that we (Chinese) were the majority, we (Chinese) would in turn treat them the way a Malay majority (in Malaysia) treated us. He drafted these words and rose above the present. He was a great idealist. His draft came to me; I trimmed out the unachievable, and the Pledge as it stands is his work after I've trimmed it. What is it? An ideology? No, it's an aspiration. Will we achieve it? I do not know. We'll have to keep on trying. Are we a nation? In transition…

COMEX 2009 Expanded

The coming COMEX 2009, held at the Suntec City from 10 to 13 September, has expanded to 345,000 square feet of exhibit space, up from its original 330,000 square feet. Level 2 ballrooms are used this time round for the extra space.

It has been VERY long since I last bought anything for myself.

COMEX 2009 [via]

I want my life back!


Ho Ching named 5th most powerful and is mistaken as first lady by Forbes

Forbes named Singapore Prime Minister wife and CEO of Temasek Holdings, Ho Ching, as the 5th most powerful woman in the world. Ho Ching is mistaken as Singapore's first lady! OMG!

I wonder how can Forbes makes such a blunder. For a complete list, refer to here.

MM Lee says give Malays special position

Minister Mentor rose and remarked that the Constitution requires the government to give the indigenous Malays special position. I remember the last time MM Lee ever spoke in a Parliament debate was MANY years back.

So, does this mean our National Pledge on equality irregardless of race, language or religion is merely a vision, an aspiration?

MM rebuts NMP [via]

The Greenback Effect - By Warren E. Buffett

The Greenback Effect
The New York Times
Published: August 18, 2009


IN nature, every action has consequences, a phenomenon called the butterfly effect. These consequences, moreover, are not necessarily proportional. For example, doubling the carbon dioxide we belch into the atmosphere may far more than double the subsequent problems for society. Realizing this, the world properly worries about greenhouse emissions.

The butterfly effect reaches into the financial world as well. Here, the United States is spewing a potentially damaging substance into our economy — greenback emissions.

To be sure, we’ve been doing this for a reason I resoundingly applaud. Last fall, our financial system stood on the brink of a collapse that threatened a depression. The crisis required our government to display wisdom, courage and decisiveness. Fortunately, the Federal Reserve and key economic officials in both the Bush and Obama administrations responded more than ably to the need.


Finance Minister Tharman simply didn't know what is an answer

Members of Parliament threw question after question at Mr Tharman Shanmugaratnam asking him to get Temasek to share with the public what went on behind the scenes but he would not budge.

He said that disclosing the information would serve no strategic purpose and that was not unlike the actions of other publicly-listed companies in the private sector.

'People do want to know, there is curiosity, it is a matter of public interest. That is not sufficient reason to disclose information. It is not sufficient that there be curiosity and interest that you want to disclose information,' he said in response to questioning from Mr Low Thia Khiang, opposition MP for Hougang.

I just do not understand what makes Mr Tharman think that citizens' call is not sufficient and deserving for disclosure of information. I thought the billion dollars are taxpayers' money?

No goodwill for Goodyear [via]

Internet Explorer 8 comes out to be the safest browser

Two tests by NSS Labs compared popular browsers for their ability to block web sites pushing malware and phishing. It turns out that Microsoft Internet Explorer 8 to be the safest. The below show browsers that were tested with their respective results:
Microsoft Windows Internet Explorer 8 (81%)Mozilla Firefox 3 (27%)Apple Safari 4 (21%)Google Chrome 2 (7%)Opera 10 Beta (1%)
Is Internet Explorer 8 the Safest Browser? [via]

My review on Pixar movie "UP"

Last weekend, I watched Pixar movie "UP" in 3D with a friend. Most of the time, after stepping out of a movie theater, I would forget the movie - both plot and cast. I must say I never really research on any movies, before or after watching them, except for 2 movies - About a Boy and Catch me if you can. For the latter 2 movies, I read books on them before watching.

Why am I writing a review on "UP"? I thought this movie by Pixar is more than a cartoon, it had got many lessons to be drawn from.

The story is about an old man by the name of Carl Fredricksen who makes his way to a cliff - Paradise Falls, somewhere in South America, using a self-made flying house, lifted by thousands of helium filled balloons. Carl and his beloved lifelong partner, Ellie, both were so much fascinated with high-flying and travelling around the world that they eventually got married. Though their love life was rendered in a short 10 minutes sequence, it was just right for me to have a de…

Man Utd won first game

I am glad Man Utd won the first game against Birmingham. This was made especially sweet when the scorer of the match was Rooney. If only 75th minute substitute Michael Owen could score, Man Utd would have given an answer to the world that they can still win titles without Ronaldo.

Rooney strike cheers champions [via]

Tough decisions to be made by today

By end of today, I need to make 2 very tough decisions.Tell my decision to my freelance boss if I am interested to take up a project in creating an Accounting Software. If the software turns up to be successful, I may get to enjoy royalties fee too.
Tell my decision to a friend if I am okay to be part of a 5-min filming production.

Guide to Wisdom Tooth Extraction

The following are tips to help you prepare for your surgical appointment.
Clothing - Wear loose, comfortable clothing with sleeves that are easily rolled up.Jewelry - Remove watches and bracelets.Transportation - An escort is mandatory for surgery. The patient must be escorted to the office and the escort must stay at the office during the surgery. Surgeries rarely take longer than 60 minutes and the recover room stay is rarely longer than 20-30 minutes.Diet - Patients must refrain from EATING and DRINKING for six hours prior to surgery.Medications - Patients must adhere to their normal medications prior to surgery. All maintenance medications such as high blood pressure, diabetes and thyroid medications must be taken on schedule. Take medicine with a small amount of water or juice. THIS IS THE ONLY EXCEPTION TO RULE #4.After surgery, a 48 to 72 hour recovery is expected.


Immediately following surgery, do take note of the below. I …

One-Man show at work

The title of this blog entry says it all - One-Man show at work. I am getting really tired having to do everything - development, testing, deployment, and most of the documentation - all alone.

Talking about this week is already going to make my lifespan shorter. Below is my very packed schedule for this month and I am expected to be present for ALL of them! No one is going to replace me even if I were to fall sick, am declared busy for my second project, or shout out loud that I have a lecture to attend. I envy members working on other portions when I see they able to rotate among themselves. They can afford to rotate among themselves and testing can still carry on without any problem. Take yesterday for example, one member from the other group actually took few hours off to NUH for a medical checkup but testing was never disrupted because there is always someone else to take over him. While one of them is performing testing with users, the other one can do modifications on documents …

Launch Of PublicTransport@SG Mobile

From 13 August 2009, commuters including tourists, can access public transport information on-the-go via handphone and PDA with the launch of the mobile version of PublicTransport@SG or PublicTransport@SG Mobile.

I personally like their Bus Service Route Info feature of allowing me to download a service route in JPG format.

PublicTransport@SG Mobile can be accessed at

Launch Of PublicTransport@SG Mobile [via]

Court Bans Microsoft From Selling Word

A judge from the U.S. District Court for the Eastern District of Texas ordered Microsoft to stop selling Word in its current form due to patent infringement. Versions of Word 2003, 2007 and 2010 have the capability of opening .XML, .DOCX or DOCM files (XML files) containing custom XML and the court see this as a patent infringement.

Court Bans Microsoft From Selling Word [via]

Why you shouldn't add your boss on Facebook?

Modules shortlisted for next semester

The below are 3 modules shortlisted for my coming semester which will start tomorrow. Out of these 3, I shall choose 2 from them.
CS5212 - Software Project Management
Date: Mon 1830-2030 S15/618
Exam: 28 NOV 2009 Morning

CS5261 - Telecoms and International Network
Date: Tue 1830-2030 S15/618
Exam: 24 NOV 2009 Afternoon

CS5268 - Electronic Government
Date: Thu 1830-2030 S15/618
Exam: 03 DEC 2009 AfternoonHopefully I have the time to attend my lectures.

Typhoon Morakot wreaks havoc and collapsed a hotel

Reading how Typhoon Morakot creates havoc in southern Taiwan, I pray that the history making flood levels will recide as soon as possible so rebuilding works can be started immediately. Floods have since resulted in massive infrastructure losses, traffic disrupted, schools destroyed, aid to victims restricted, and a hotel collapsed.

Approximately 4 years ago in Aug, I was in Taiwan, Heng Chun and Kenting, when Typhoon Talim struck. Though that typhoon also took some lives away, the damages weren't definitely as severe as the present Typhoon Morakok.

Whenver any of my friends were to visit countries near South China Sea during the summer period of Aug, I will definitely advise them on a possible risk of a typhoon.

Typhoon Morakot triggers floods in Taiwan [via]

HK investors protest DBS

HK investors protest DBS
The Straits Times
Aug 9, 2009

HONG KONG - ABOUT 100 Hong Kong investors burned by complex financial products linked to failed US investment bank Lehman Brothers protested on Sunday, demanding securities regulators help them negotiate a settlement.

Tens of thousands of retail investors in this Chinese-ruled financial hub were hit by Lehman's collapse in September.

Hong Kong securities regulators announced a settlement deal last month for one group of investors who purchased certain Lehman-linked products through local banks, but the agreement did not cover products sold by Singaporean bank DBS Group Holdings.

Sunday's protesters were demanding securities regulators step in to strike a deal for DBS clients. The demonstrators bought so-called 'Constellation' notes from DBS - financial products that are linked to the credit ratings of a group of financial institutions, including Lehman.

About 6,900 Hong Kongers bought HK$2.3 billion (S$427 million) worth…

DBS Bank: 'definitely' no note buyback

DBS Bank: 'definitely' no note buyback
China Daily
By George Ng (HK Edition)
Updated: 2009-08-08 07:46

HONG KONG: DBS Bank (Hong Kong) Ltd will "definitely" not buy back the Constellation Notes from its clients despite the fact that other banks have agreed to buy back another structured product they sold to investors, the bank's top executive said Friday.

"We have explained very clearly the risks involved when we sold the product to investors ... we have reviewed all complaints (regarding the sales of the product) and have made proper compensation in cases that involved mis-selling," said Chief Executive Officer Amy Yip, fielding media questions at a press briefing for the group's quarterly results.

"There will be no further settlement," she said. "We definitely won't buy back the notes." Yip emphasized that the structure of the Constellation notes is very different from the so-called Lehman Brothers minibonds.

Last month, 16 banks …

SAF Group Term Life Insurance

The SAF Group Insurance Scheme, underwritten by Aviva Ltd, provides 24 hours' worldwide coverage and is affordable and comprehensive. All NSmen aged 55 and below are eligible to apply. The NSmen's dependant male children are also eligible for coverage from age fourteen days to their 18th year birthday. The insurable age for NSmen's female children has been extended from 18 to 25. The scheme allows the NSmen and their spouses who are insured to continue with their insurance up to age 70. The insurance pays for all forms of death (except suicide within one year from the date of commencement of insurance), total and permanent disablement and permanent partial dismemberment arising from personal accident.

Under the SAF Group Insurance scheme, the NSmen have the option of selecting the sum assured in multiples of $10,000, from a minimum of $20,000 to a maximum of $400,000. For each insured sum of $10,000, the NSman has to pay a monthly premium of $1.28 and $1 for his dependants.

The Prime Minister’s National Day Message

My fellow Singaporeans,

Singapore has had a turbulent and challenging year. In January, dark clouds had gathered all around us. Our economy was hit by the worst storm in our history. Exports went down by a third, and manufacturing declined sharply, since we produced for world markets. Given this backdrop, we projected GDP to shrink this year by 6 per cent to 9 per cent.

We could not avoid the storm, but we did not passively resign ourselves to fate. Instead, we mobilized Singaporeans to tackle the crisis together. We brought the Budget forward to January, implemented a Resilience Package, and drew on past reserves to help fund the Special Risk Sharing Initiative and the Jobs Credit.

We are now in a stronger position. The global economic situation has somewhat stabilised. Our measures have cushioned workers from the worst of the storm. Our economy was among the worst hit, yet we still have one of the lowest unemployment rates in the world.

Singaporeans too have responded resolutely and coh…

How to Upgrade the Windows 7 RC to RTM (Final Release)

Microsoft just released a final version of Windows 7 yesterday for MS Technet subscribers. However, to upgrade directly from RC to RTM, you will need some workaround to bypass Windows check on version compatibility check.

How-To Geek published a workaround on the quick and easy workaround upgrade method.

How to Upgrade the Windows 7 RC to RTM (Final Release) [via]

Special bonus for 2009

Glad to receive an email from my HR that there will be a National Day special bonus this year. Though it is $550, $50 short as compared to last year, at least they are still giving out despite the current weaker economic outlook. This year's announcement came in late, causing many speculations and disappointments that there may not have any National Day bonus this year.

I am glad my company decides that motivation among employees is especially important.

Is Windows 7 going to be postponed?

Is Windows 7 going to be postponed? It is reported that a "major" bug is found on Windows 7 and this may end up Microsoft having no choice but to release a patch immediately after Windows 7 arrives on October 22. So far, Microsoft has denied rumours on a possible postponement of Windows 7 release.

OMG! Windows 7 release date canceled! (Not.) [via]

An Introduction to SQL Server FileStream

Filestream allows us to store and manage unstructured data in SQL Server more easily. Initially, the accounts of FILESTREAM assumed prodigious powers of concentration and cognition, and we mortals all recoiled numbly. However, it became clear that we were missing out on some extraordinarily useful functionality, so we asked Jacob Sebastian to come up with a simple and clear-cut account of the FILESTREAM feature in SQL Server 2008. You'll agree he has managed the feat superbly.

An Introduction to SQL Server FileStream [via]

Shagged out after late work from Changi Airbase

Today is my very first time I ever had to work till so late (10:30pm to be exact) in Changi Airbase (CAB). My many other times working late were all in my comfortable lab, definitely not in a dusty environment like CAB.

The final 5 hours for today was a 5 hours endurance test. The purpose of the test is to make sure the system will not run into faults during the endurance test. An hour of the test was spent dining at Charlie's Corner at Changi Village while the rest were spent sitting around doing nothing.

Looks like there will be more such "shagged out" late work in CAB.

GE agents return commission

Great Eastern announced on Aug 31 that it is making a one-time redemption offer to its GreatLink Choice (GLC) policyholders.

Today's copy the Straits Times mentioned about 1,000 Great Eastern agents are told to return up to S$12.6 million in commissions received from policies they sold up to four years ago. By simple arithmetic, each agent will need to return $12,600. That's a lot of commission!

GE agents return commission [via]

Inside the White House: Letters to the President

Every day, President Obama reads ten letters from the public in order to stay in tune with America's issues and concerns. "Letters to the President" is an exclusive behind-the-scenes look at the process of how those ten letters make it to the President's desk from among the tens of thousands of letters, faxes, and e-mails that flood the White House each day. August 3, 2009.

Met up with Israel vendor today

Today is my first time meeting up with my Israel vendor. My impression on them is they are really very street smart. When you talk to them, just make sure don't even think of trying to "smoke" them. Other than being street smart, they really 不帕死活. Seeing the way how they handle electrical cables and high radar frequency cables tell me they are neither afraid of being electrocuted nor fearful of RF signals. I must salute them.

They will be with us until Wednesday.

Notice of Early Redemption of Surf Deposit 41 SGD Tranche A

DBS Bank announced that they will early redeem Surf Deposit 41 SGD Tranche A on 29 July 2009.

The early redemption amount on 29 July 2009:100% of your Principal Amounta final payout of 0.1012% of your Principal Amount.On Aug 31, Great Eastern announced a One-time Redemption offer to their GreatLink Choice policyholders - yet another structured product.

Notice of Early Redemption of Surf Deposit 41 SGD Tranche A [via]

Is the world becoming more practical?

I saw the below comment on Person A's photo posted on Facebook. Person A's photo is a photo he and his new car. I do not know any of them.

B: nice. got girlfriend already?
A: this is the action plan towards that milestone. haha. =)

Is the world becoming more practical? I believe so.

Malaysian protestors in lockup after rally

Police breaks up protests in Malaysia after the opposition setup the biggest street protest in nearly two years. The police were firing tear gas and chemical-laced water at thousands demanding an end to a decades-old security law - Internal Security Act (ISA).

Dozens in lockup after rally [via]

Malaysia looks set to be in a dramatic change.

M'sian newspapers challenged [via]

Da Vinci Vitruvian Man

The Vitruvian Man is a world-renowned drawing created by Leonardo da Vinci around the year 1487. It is accompanied by notes based on the work of the famed architect, Vitruvius Pollio. The drawing, which is in pen and ink on paper, depicts a male figure in two superimposed positions with his arms and legs apart and simultaneously inscribed in a circle and square. The drawing and text are sometimes called the Canon of Proportions or, less often, Proportions of Man.

According to Leonardo's notes in the accompanying text, written in mirror writing, it was made as a study of the proportions of the (male) human body as described in Vitruvius:a palm is the width of four fingersa foot is the width of four palms (i.e., 12 inches)a cubit is the width of six palmsa pace is four cubitsa man's height is four cubits (and thus 24 palms)the length of a man's outspread arms is equal to his heightthe distance from the hairline to the bottom of the chin is one-tenth of a man's heightthe d…

Is Lim Swee Say recommending companies to lay-off employees?

Many times, I really do not understand what is our Labour Chief, Lim Swee Say, talking about.

10 workers to work as 12
The Straits Times
Aug 1, 2009

THE productivity of workers in Singapore is declining and labour chief Lim Swee Say has a suggestion on how companies can help turn it around. It is by doing more to develop new markets for their products.

He made the call to companies on Friday in response to feedback from many of them that measures like the Jobs Credit wage subsidy scheme are to be blamed.

Such government aid has resulted in these companies holding on to more workers than they need. They had noted that when 10 workers are retained to do the job of eight or nine workers, short-term productivity suffers.

Mr Lim, however, felt that the Government was doing the right thing by introducing help measures to save jobs.

To get around the short-term impact on labour productivity, which is a measure of the output per worker, he urged companies to 'find ways to prepare these 10 workers…

Great Eastern One-time Redemption Offer to GreatLink Choice Policyholders Should Affect Shareholders Only

Great Eastern announced on Aug 31 that it is making a one-time redemption offer to its GreatLink Choice (GLC) policyholders. The offer will be open for acceptance from 3 August to 28 August 2009. During the offer period, GLC policyholders can, if they so choose, have their GLC units cancelled under this redemption offer and receive a sum equal to the original purchase price of $1.00 per unit, less the total annual payouts received to-date. With this, over 18,000 policyholders will be getting a full refund on the invested sum which amounts to approximately $250 million.

After reading GE financial report, the cost in the redemption is most likely to be borne by the shareholders of GE and its parent company, OCBC Bank. This is fair.

I hope the other financial institutions can take Great Eastern as their role model and come out a fair compensation to investors who have lost in structured products including the Lehman Minibonds, DBS High Notes, Morgan Stanley Pinnacle Notes and the Merill Ly…

Great Eastern Announces One-time Redemption Offer to GreatLink Choice Policyholders

Great Eastern today announced that it is making a one-time redemption offer to its GreatLink Choice (GLC) policyholders. The offer will be open for acceptance from 3 August to 28 August 2009. During the offer period, GLC policyholders can, if they so choose, have their GLC units cancelled under this redemption offer and receive a sum equal to the original purchase price of $1.00 per unit, less the total annual payouts received to-date.

It looks to be good news to GLC shareholders but then is this redemption going to affect other policyholders and shareholders? Will this result in a reduced bonuses in the future to come? Perhaps I should not speculate.

Great Eastern Announces One-time Redemption Offer to GreatLink Choice Policyholders [via]