oBike’s usage of customer deposits to fund operations ‘unethical’: CASE
04 Jul 2018 09:20PM (Updated: 04 Jul 2018 09:30PM)
SINGAPORE: Bike-sharing operator oBike’s usage of its customers’ deposits to purchase bicycles and fund operations is “unethical and unacceptable”, the Consumers Association of Singapore (CASE) said on Wednesday (Jul 4).
As of 5pm on Wednesday, CASE had received 1,044 complaints from consumers asking for a refund of their deposit with oBike after the operator’s shock announcement last week that it was ceasing its operations in Singapore.
The majority of the complaints were lodged within the last week, CASE said.
“Since the announcement that oBike would be ceasing operations, CASE has engaged oBike together with the Land Transport Authority (LTA). We were informed by oBike that consumers’ deposits have been used to purchase the bicycles and fund their operations,” CASE said in a statement.
“CASE has communicated clearly to oBike that this practice is unethical and unacceptable, as the refundable deposit acts as surety for consumers to be responsible when using the bicycle-sharing service, and should not be used for other means.”
CASE said that using these deposits to purchase bicycles and fund its operations means oBike would be hard-pressed to provide refunds without new sources of funding.
Under oBike’s terms and conditions, riders would have to pay a deposit before they could use an oBike. The operator is contractually required to refund the deposit back to the rider’s account when requested.
“The deposit was never intended to be used as prepayment for future services,” CASE said. “As such, the deposit ought to have been placed in a separate account to allow oBike to refund consumers when required. The deposit should not be used to purchase assets and/or fund other operating expenses.
“We put forth our position to oBike that they should honour their contractual obligations to consumers.”
oBike announced last Monday that it would wind up its operations in Singapore, citing difficulties in meeting LTA’s new requirements, which were implemented to tackle indiscriminate parking.
Since then, hundreds of worried customers have sought to get back their deposits, which adds up to US$4.6 million (S$6.3 million) in total, while oBike scrambles to retrieve its fleet of 70,000 bicycles that have been left abandoned in public areas islandwide.
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Need more water? PUB aims to produce more with same amount of resources
Every time you go to the toilet, your waste enters the sewers as used water, gets treated at a water reclamation plant, then processed into NEWater or released into the sea. Vanessa Lim with more.
By Aqil Haziq Mahmud
@AqilHaziqCNA
04 Jul 2018 07:37PM (Updated: 04 Jul 2018 10:54PM)
SINGAPORE: Every time you go to the toilet, your waste enters the sewers as used water, gets treated at a water reclamation plant, then processed into NEWater or released into the sea.
The treatment process also produces sludge, a mud-like mixture of solid and liquid bits that goes into the incinerator and then dumped in the landfill.
Sounds simple enough, but there’s a problem: It’s not just a bit of mud.
Singapore consumes 430 million gallons of water a day (mgd), enough to fill 782 Olympic-sized swimming pools, and generates 300,000 tonnes of sludge a year, equivalent to the weight of 3,000 buses.
These figures are not about to go down. By 2060, when Singapore is set to use twice the amount of water it does now, it will generate 600,000 tonnes of sludge annually.
This presents a challenge, as Semakau Landfill is projected to run out of space by 2035 at the current rate waste is being generated and burnt.
Enter national water agency PUB, which is trying to recycle more of the sludge into biogas, an important source of energy.
PUB is already turning some of the sludge into biogas, which means its four water reclamation plants are 25 per cent energy self-sufficient.
This is because its plants have digestors that convert the organic matter in sludge into biogas, which can in turn power generators.
But within the next decade, PUB wants its plants to be fully energy self-sufficient. This means turning even more sludge into biogas through technological innovations.
One way is through a thermal hydrolysis process (THP), which pre-treats sludge using high temperature and pressure to improve its breakdown rate in digestors. This allows more organic content to be converted to biogas.
PUB is testing this technology at a demonstration plant at the Jurong Water Reclamation Plant. The demonstration plant can treat up to 70 tonnes of sludge a day.
The agency is also testing a “novel combination” of processes, including a biologically enhanced treatment facility and energy-efficient membrane bioreactor (MBR) that helps shorten the treatment process, reduce energy use and maximise biogas production.
This combination is being validated at the Ulu Pandan wastewater treatment demonstration plant, which uses 40 per cent less energy than a typical plant.
WHAT’S THE BIG DEAL?
Besides extending landfill lifespans, how will reducing the energy and waste footprint of treating used water benefit people?
As PUB explains, used water treatment is the “backbone” of NEWater production, which currently supplies up to 40 per cent of Singapore’s water demand. By 2060, NEWater will supply up to 55 per cent.
The same goes for desalinated water, another national tap that will be stretched by rising demand.
“Meeting future water demand with today’s technologies will see PUB’s energy footprint quadruple to 4,000GWh/year and the amount of sludge generated double to over 600,000 tonnes a year by 2060,” PUB said on Tuesday (Jul 3). “This is unsustainable and can only be overcome by leveraging technological innovations.”
That energy footprint would have been enough to power 686,000 5-room Housing and Development Board flats for a month.
“The price of energy is going to go up,” PUB’s assistant chief executive (future systems and technology) Harry Seah said. “If you don’t do anything today, the cost of producing water is going to go up.”
WATER PRICES
When asked if the technological innovations would help keep water prices stable, Mr Seah said “we do our part through efficiency to drag it (out) as long as possible, that’s the best I can do”.
Since July, the price of water has gone up 30 per cent following a two-step increase.
The hike was in line with the rising costs of producing water
.
continue reading here :
https://www.channelnewsasia.com/news...waste-10498142
So what are the rising costs of producing water ???
Quote:
Originally Posted by
nitecrawllerr
I still have my siblings. But they understand i am doing this for my children. Kind of pessimistic. I dont see light end of the tunnel.
If you do plan to migrate you need to consider giving up citizenship . Once that is done you can get back your cpf . Also you may have to consider yours sons do they still need to serve NS ??? If you can totally detach yourself from this Singkieland then by all means migrate and start a new life overseas . two thirds of my batch already migrated overseas and are doing well in their lives . They are still asking me when I can go over to join them .
The severely disabled can access their own CPF savings early – but only $50-$200 per month, dependent on their Medisave balance
By Jewel Stolarchuk -
July 4, 2018
The Ministry of Health announced that locals who are severely disabled may finally have early access to their own savings that are locked in their Central Provident Fund (CPF) Medisave accounts, from 2020 onwards.
Making the announcement yesterday, the Ministry revealed that the new scheme will only be available to those aged 30 and above and that the individual applying to withdraws funds must have at least S$5,000 in their CPF account. Eligible CPF account holders may access their savings from their own account as well as their spouse’s account.
Health Minister Gan Kim Yong said yesterday that allowing Medisave withdrawals for severely disabled individuals will provide flexibility in planning for long-term needs: “We don’t really want them to consume services that are not really necessary; some of them might have informal care arrangements and will need some financial support to make sure these arrangements are affordable.”
Although many perceive this new move as a liberalisation of CPF withdrawals, the eligibility requirements and caps on withdrawals may hinder some from accessing their own Medisave savings even if they are severely disabled and need help.
According to MOH, CPF account holders must have a Medisave balance between $5000 to $20,000 and their spouses must have at least $5000 in their own Medisave accounts to be eligible to withdraw $50 to $150 from their own Medisave savings per month.
Those who have a Medisave balance that stands at or exceeds $20,000 can withdraw the maximum $200 per month. This maximum cap will apply to all severely disabled individuals who apply to withdraw their funds, even if they are supplemented by their spouse’s Medisave balance.
MOH cited that residents aged 65 and above have a median Medisave balance of $19,000, with nearly half having $20,000 or more and a quarter having $5,000 or less in their Medisave accounts.
continue reading here :
http://theindependent.sg/the-severel...isave-balance/
Seriously even still want to further control our medisave even if we use it for ourselves ?
How “severely disabled” a person should become in order he can withdraw cash from own CPF?
Published on 2018-07-04 by Correspondent
It was reported in the news today (4 Jul) that CPF members can now withdraw money from their own CPF, but only if they are “severely disabled” and are at least 30 years old.
Apparently, Health Minister Gan Kim Yong has taken pity on the “severely disabled” Singaporeans and decided to allow them to withdraw a monthly cash from their own CPF Medisave account for subsistence.
He told the media, “When a Singaporean is facing severe disability and, at the same time, facing financial difficulties, I feel that we can afford to be more flexible.”
Those with at least $5,000 in their Medisave accounts will be able to withdraw $50 a month while those with $20,000 or more will be allowed to withdraw $200 a month.
Fifty dollars a month is roughly equivalent to buying 20 packets of chicken rice for a month at $2.50 per packet. Some netizens have commented that a packet of chicken rice now costs $3 in most hawker centres. In that case, $50 would only buy the person about 16 packets of chicken rice a month.
Defining severe disability
So, to withdraw this $50 or $200 a month from one own savings in one’s CPF Medisave account, how “disabled” a person should become in order to qualify?
According to Ministry of Health’s website, it defines “severe disability” as the inability of an individual to perform three or more Activities of Daily Living (ADLs) independently. This means that the individual will require the physical assistance of another person for the ADL.
continue reading here :
New property cooling measures announced: Higher ABSD rates, tighter loan limits
0 5 Jul 2018 07:21PM (Updated: 06 Jul 2018 09:48AM)
SINGAPORE: The Government announced on Thursday (Jul 5) that it is raising Additional Buyer’s Stamp Duty (ABSD) rates and tightening loan-to-value (LTV) limits on residential property purchases, in an effort to “cool the property market and keep price increases in line with economic fundamentals”.
The move comes several days after official data showed that private home prices had risen to its highest point in four years in the April to June quarter, with analysts predicting that prices could soon recover to 2013 peak levels.
“The government has been monitoring the property market closely. We are very concerned that prices are running ahead of economic fundamentals," said Mr Lawrence Wong, Minister for National Development on Thursday.
“There is a large supply of units coming on stream and interest rates are going up. We want to avoid a severe correction later, which can have more destabilising consequences. Hence we are acting now to maintain a stable and sustainable property market,” he added.
The ABSD will be raised by 5 percentage points for citizens and permanent residents (PRs) buying second and subsequent homes, and by 10 percentage points for entities, said the the finance and national development ministries, as well as the Monetary Authority of Singapore (MAS) in a joint release.
There will be no change in the rates for citizens and PRs purchasing their first residential property.
An additional ABSD of 5 per cent, which is non-remittable under the Remission Rules, will also be introduced for developers purchasing residential properties for housing development.
Authorities said that for purchases jointly made by two or more parties of different profiles, the highest applicable ABSD rate will apply.
However, full ABSD remission will continue to be provided for joint purchases of the first residential property by married couples with at least one spouse who is a Singapore citizen, they added.
Married couples with at least one Singapore citizen spouse who jointly purchase a second home together can continue to apply for an ABSD refund, as long as they sell their first home within six months after the date of purchase of the second property, or by the issue date of the Temporary Occupation Permit or Certificate of Statutory Completion of the second property - whichever is earlier.
The new rates are effective Jul 6, but there will be a transitional provision for cases where an Option to Purchase (OTP) has been granted by sellers to potential buyers on or before Jul 5.
Read more at
https://www.channelnewsasia.com/news...limit-10502710
Somehow this never surprise me . The government is very good at collecting more revenue from its citizens and residents . Looks like Singapore will be having another budget surpluses . So you still want to vote for PAP ???
Huge backlash from Singaporeans after Government raises stamp duties and tightens loan limits in attempts to control surging property prices
By Obbana Rajah -
July 6, 2018
Yesterday, the Singapore government announced adjustments to the Additional Buyer’s Stamp Duty (ABSD) rates and Loan-to-Value (LTV) limits on residential property purchases.
In a joint statement, the Ministry of Finance, the Ministry of National Development and the Monetary Authority of Singapore said that the ABSD for Singaporeans and permanent residents who are buying their second or subsequent property will be raised by five percentage points with effect from Friday, July 6.
These changes come after an increase of about 9.1 per cent for private residential prices over the past year.
New property cooling measures introduced by Government to calm market euphoria
Lawrence Wong, Minister for National Development, said the government has been monitoring the property market and he added, “We are very concerned that prices are running ahead of economic fundamentals. There is a large supply of units coming on stream and interest rates are going up. We want to avoid a severe correction later, which can have more destabilising consequences. Hence we are acting now to maintain a stable and sustainable property market”.
These changes leave many unhappy, especially amidst rising water prices and electricity tariffs.
The most common gripe of people being that while ABSD rates have increased, the changes might not be effective enough for those able to afford second or third properties in the first place. Singles also feel discriminated against, as married couples can “apply for a refund of ABSD, as long as they sell their first residential property within 6 months after (a) the date of purchase of the second residential property, or (b) the issue date of the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC)”, while singles are unable to.
continue reading here :
http://theindependent.sg/huge-backla...operty-prices/
Angry for what ? You are the ones who voted for the PAP Government .
New cooling measures: The show has just begun
Published on 2018-07-06 by The Online Citizen
by Property Soul
What a roller-coaster week for Singapore’s real estate market.
It is a surprisingly well-coordinated good show put up by the Singapore government, complemented by the parts played by different stakeholders in the industry, with an unexpected ending of the cooling measures announcement.
The show leading to the announcement
Day 1: URA Q2 Estimate and PropNex IPO
The show kicked off on Monday when URA showed an increase of 3.4 percent in its flash estimate’s of 2nd Quarter 2018 private residential property price index.
The media reported the good news and the analysts cheered for another good year for the property market.
In the meantime, PropNex raised S$40 million in IPO which was 24.6 times oversubscribed by the public, despite controversies over transfer fee and revenue discrepancy.
Day 2: Government Land Sales
The next day saw URA awarding the 99-year Hillview Rise site to Hong Leong Group which paid the top bid of S$460 million and promised to deploy a few innovative technologies to boost productivity. This echoed with last week’s GLS announcement that four new residential sites and seven more on the reserve list will be launched.
Day 3: MAS Warning
On Wednesday, Monetary Authority of Singapore (MAS) chief Ravi Menon made use of the occasion at the MAS annual report media briefing to deliver his speech on “there is euphoria in the Singapore property market”, specifically warning developers, individual buyers and banks “to be sober, to be balanced and exercise good judgement”.
Day 4: New Cooling Measures
DBS CEO Piyush Gupta told the audience at a luncheon that “MAS is getting nervous, And also, from my understanding is the URA” and “it’s something to keep an eye out on”.
The time was finally ripe to push the new cooling measures to the market in the evening, with raising of 5 to 10 percent for Additional Buyer’s Stamp Duty (ABSD) and lowering of 5 percent for Loan-to-Value (LTV).
Desperate developers rushed to open yet-to-be-ready showflats. Some offered 5 percent discount until midnight. Desperate buyers under panic attack of FOMO flocked to Riverfront Residences and Park Colonial showflats for last minute shopping.
Day 5: The Aftermath
Shares of developers, property agencies and local banks tumbled. Analysts who were euphoric earlier this week changed their tone 360 degree to moan for worst possible scenarios under the new cooling measures.
Like I said in my earlier blog post “Singapore property game: The winner takes it all”, “a game is fun when everyone can take turns to play”.
In this case, I am not sure whether “all the players have equal chances of winning” or “whether it is a fair battle for all”. But at least, it is a fun game to play for the obvious winner.
Adding a Singapore stop to the Cooling Measures World Tour
From last year, there are property cooling measures countries around the world have with the slap of foreign buyer taxes and lending restrictions, Including Canada, Australia, New Zealand and China. Last week Hong Kong just imposed new vacancy tax on developers’ unsold units.
But unlike the red-hot property market in these countries, Singapore’s private property prices have yet to fully recover to reach historical high, while foreign buyers (including foreigners residing in Singapore waiting for their PR) only account for 6 percent of total private sales transactions last year.
Is it necessary to join the world’s party of cooling measures, when Singapore shares have just dropped over 10 percent, and stage a 4-day show to give the market another big shock – if not for the preparation of the coming election?
Though we all understand that, in a well-governed country like Singapore, the only two real complaints by the citizens are MRT breakdowns and private home prices not coming down.
We need players to stage a show
Our government decided that the show must go on. And it won’t be such a good show if not for the voluntary participation of different players.
Did the URA figures indicate that the market is looking up?
Well, it depends on how you interpret the data. A 3.4 percent increase this quarter could imply that growth has slowed down from the 3.9 percent climb last quarter.
continue reading here :
S’porean man’s comeback response sums up new ABSD situation
We love a good complaint.
By Tan Xing Qi | July 8, 2018
If you are a Singapore citizen or Singapore permanent resident buying your first residential property, the new Additional Buyer’s Stamp Duty (ABSD) rates that took effect on July 6, 2018 won’t affect you.
Here are the changes at a glance:
As you can see, the 5 per cent hike only affects:
•Singapore citizens buying second (now 12 per cent), third and subsequent residential property (now 15 per cent);
•Singapore permanent residents buying second and subsequent residential property (now 15 per cent)
•Foreigners buying any residential property (20 per cent)
But anyhow, people were still spooked.
Which led to this:
Which honestly was quite a scene. We’ve never seen condominium units sold with such Hello Kitty-esque queues.
Back to the new ABSD rates.
As with any rates that are going north, people are bound to get triggered, because it conveniently fits into the narrative of hard times and how rising prices are hurting the hardworking people of Singapore looking for a better life.
Sure.
continue reading here :
https://mothership.sg/2018/07/absd-rate-july-7/
Really Singapore got so many rich people that can afford 2nd and 3rd properties ???
Straits Times: Election may come as early as in 2019
July 8, 2018
According to state media Straits Times, about 30,000 civil servants have been appointed as election officials and training is underway. The state media then hinted that the election may come as soon as 2019, as the previous election in 2015 was held 11 months after the training:
“
“For the 2015 General Election, public servants were called up for training about 11 months before the polls. The timeframe was about 18 months for the 2006 General Election and about 31 months for the 2011 polls.”
There are however good reasons for the ruling party PAP to call for early elections. A GST tax increase in 2021 would be uncomfortably near a 2020 election, and deal significant damage to the ruling party supporter base.
The considerable success of 70% majority in GE2015 for the PAP hinged upon Lee Kuan Yew’s influence. Singaporeans voted sentimentally as a tribute to the first Prime Minister, disregarding unsound policies, legalised corruptions and poorer quality of life.
Back in 2015, Singaporeans discarded rationality but this time it may not be the same. The ruling party PAP now has a high chance of losing governance as this presents itself as Singaporeans’ only alternative to stopping a 2% GST increase. Furthermore, there isn’t anyone in the current ruling party that Singaporeans feel endeared to.
Despite spending millions marketing himself on social media and public relation events, Lee Hsien Loong has more a villain image in the eyes of Singaporeans. His father’s last will to demolish 38 Oxley Road was denied through Lee Hsien Loong’s abuse of premiership powers, and his siblings now openly criticises him. The “dishonourable son” – as Lee Wei Ling called his Prime Minister brother – preserved the family house and dismantled his family links, and even go as far as prosecuting his nephew Li Shengwu and sending his brother on exile after accusing him of falsifying the last will of Lee Kuan Yew.
Most Singaporeans have called out for Lee Hsien Loong to respect Lee Kuan Yew’s will, but the dictator Prime Minister wanted the house to serve as a memorial and symbol of influence for his own legacy. This ironically turned out to be another election issue, as displacing Lee Hsien Loong out of power is the only alternative of honouring Lee Kuan Yew’s last will.
From within the PAP, there is also increasing dissenting voices who became disillusioned with Lee Hsien Loong’s leadership. Some openly expressed their dissatisfaction, like Teo Ser Luck who gave up his ministerial position and former Prime Minister Goh Chok Tong who publicly commented that Lee Hsien Loong’s succession planning is too late. Dr Tan Cheng Bock, a former PAP MP, openly contested against his ruling party-appointed candidate in the 2011, and several former comrades of Lee Kuan Yew like Kishore Mahbubani condemned the foreign policies of Lee Hsien Loong.
Like Malaysia’s Najib Razak, Lee Hsien Loong keeps his men obedient by stuffing money into their pockets. Each Minister is paid at least S$1.1 million and the entire cabinet is the most expensive in the world at S$53 million a year. As his nephew Li Shengwu succinctly put in, the ministers’ and MPs’ generous paycheck is dependent on them not criticising the Prime Minister. Chances of any “change from within” is hence non-existent.
continue reading here :
http://statestimesreview.com/2018/07...ly-as-in-2019/
I wonder if the opposition parties are getting reading for the next election or not ?