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Malaysian PM Mahathir proposes new regional currency based on gold TOKYO: Malaysian Prime Minister Mahathir Mohamad on Thursday (May 30) proposed to create a new “special currency” for the region based on gold, replacing the existing currency trading regime. Speaking at a dialogue session at the 25th International Conference on The Future of Asia (Nikkei Conference), he claimed that a regional currency based on gold would be more stable. The prime minister said that by pegging the new currency to gold, it could be used to evaluate the import and export activities among East Asian countries. “We can make settlement using that (new) currency. That currency must be pegged to the local currency as the exchange rate, which is something that can be related to the country’s performance,” he said. “That way we know how much we owe, how much we have to pay in the special currency of East Asia." The new currency could also be extended to countries outside East Asia, he said. Dr Mahathir noted that the global market is now tied to the US dollar, and this makes the currency prone to manipulation. “Just because that one country is affected, there is infection to the other countries. Malaysia was very stable way back in 1997 (during the Asian financial crisis) ... but because of the problem occurring in Thailand, they said we must peg the Malaysian currency (to the US dollar),” he recounted. “What happened? The currency traders sold the Malaysian currency and the value of Malaysian currency depreciated.” “This currency trading is not something that is healthy because it is not about the (economic) performance of countries but it is about manipulation.” When asked if the Japanese yen or Chinese yuan could be used as the common currency in the region, the prime minister replied: “If we are trying to promote our own currency, there will be conflict." “But if we have a common currency for East Asia, a common trading currency that is not used in each country but for the purpose of settlement trade only, then there will be stability,” he said. “Trying to promote the yen or the yuan is not the way to go.” US SHOULD STOP LABELLING OTHER COUNTRIES: MAHATHIR Earlier this week, the United States added Malaysia to a watchlist of trading partners for currency practices, citing its foreign exchange intervention operations. Malaysia’s central bank has refuted the claim. In a statement on Wednesday, it said the Malaysian economy remains resilient, underpinned by strong economic fundamentals, including the flexibility accorded by a floating exchange rate and strong external balance. "Malaysia supports free and fair trade, and does not practise unfair currency practices," it said. Other countries, including Singapore, China, Germany, Japan, South Korea and Vietnam were also added to the list. On Thursday, Dr Mahathir hit out at the US for “labelling countries”. “The US is fond of labelling that country is no good, this country is no good and telling countries on ways to conduct their business,” he said. “You are not democratic. That is not for any single power to decide. If you want to live in a united world, stable world, we must resort to sustainability through agreement between all nations that have a stake in that problem." Read more at https://www.channelnewsasia.com/news/asia/malaysia-mahathir-new-regional-currency-gold-11579422 so is Dr M going kee chiu and spearhead the new regional currency ?

Gelyang HUAT ah!!!!! http://www.channelnewsasia.com/mobile/singapore/ura-proposes-rezoning-of/1586882.html URA proposes rezoning of parts of Geylang SINGAPORE: The Urban Redevelopment Authority on Tuesday (Jan 13) announced it is proposing to rezone parts of Geylang, so as to better manage the area in question and "prevent spillover of disamenities to surrounding areas". URA said the proposed area is bounded by Geylang Road, Lorong 22 Geylang, Guillemard Road and Lorong 4 Geylang, excluding the parcels of land zoned Road, the lots fronting Geylang Road and the sports field bounded by Talma Road and Lorong 12 Geylang. It plans to rezone this area from Residential/Institution to Commercial/Institution, according to its press release. Explaining the decision, URA Chief Planner Hwang Yu-Ning said in the proposal that Geylang is a "rich and colourful neighbourhood" interspersed with associations, clans, places of worship, shops, offices and residential uses. It is also a traditional red-light area, she noted. "The various entertainment and eating outlets in the area give rise to activities of a certain colour and vibrancy," Ms Hwang said. "With more new residential developments in the area, there has been an increasing spillover of disamenities and friction on the ground. "In our assessment, the growth of new residential community in the area of Lorongs 4-22 Geylang needs to be re-balanced and moderated." She added the new residential developments in the area, which have been approved will not be affected and can proceed to be built. The URA said members of public can submit their feedback, objection or representation to the proposal in writing to the Permanent Secretary, Ministry of National Development, 5 Maxwell Road, Singapore 069110, by Feb 11, 2015. More information on this proposal can be found on the URA website.

Everything the same except you pay for what you bid, closed bid and minimum 5k bid. If bids are less than quota, the extra COE are scrapped. Example, if you bid 100k and the lowest acceptable bid is 10k, you still have to pay 100k. It should be better in almost all ways to the current system. Current system totally favours the rich as you can bid astronomical sums and yet only pay for the lowest bids. If you want to push up the COE, be prepared to PAY for it, not everyone pay with you.... Government may get more revenue from the rich who WANTS their car NOW and willing to pay a premium. If the demand is less than the supply, please don't give $1 COE. Just scrap the extra COE. we will never have a problems with too little cars. The unused COE can be introduced in the future. minor changes but seems only have advantages to me.

I hope he is joking. Otherwise I am gonna weep like the first guy who bought Starcraft. Do you find his comments about intellectual class disturbing? Seems to be implying FTs are here to be your manager.

PORT OF SPAIN: The Singapore government is proposing an extra day of non