National Day Rally. What are your thoughts?

[Lala81]

I'm not exactly talking about the reasons of why we are behind. I was just referring to his analogy where he alluded us to being the front runner (he said "fast runner") when this is clearly not the case.

 

Anyway, for something like mobile payments, we don't really need a huge domestic market to have it succeed. We just need a population receptive to change and trying new things. My wife still has some friends who don't want to use internet banking and go down to an ATM to make money transfers    Those fellows are in their early thirties.

 

Well. Cashcards i think should be the first target 

 

My parents don't think IB is secure. So yes, they still go to the bank.

[Lala81]

Not only us, but basically all the legacy institutions have been slow, banks, visa, master, etc. all trying to catch up but then, who is willing to give up their traditional turfs or invest in something may compete with their own core business ? Trying to keep legacy itself is a hurdle. And the so-called innovations may not be more profitable than the old, so what's the motivator ?

 

AliPay went from bottom up, the small retailers and wholesalers, bypass the big retail channels and banks, they were the ones driving the change. All the big shopping malls and even big name supermarkets are now empty in China.

 

yeah the main issue is all these transactions/innovations are not really profitable.

So the banks are generally laggards.

 

Just like the telcos are resisting cutting their own profit margins.

 

Uber (confirmed), Grab (speculated) etc are not profitable as well haha

[Jusnel]

China is ahead on mobile based lifestyle, cos most of their population has never even owned a PC before. So they just skipped onto the next wagon which is android based HPs.

Lol they don't have people there still lamenting how come Windows HP never caught on ...

 

 

yes our approach is quite fragmented. But generally the whole world's approach is quite fragmented outside of China.

In China, there's only Tencent and Alibaba. Take it or leave it.

 

 

These countries have a huge domestic market. While over here, we can only be a test bed for technologies before branching out into the surrounding SEA market. It's a different story and challenge.

Especially with the internet.

Having a small domestic market is not an excuse to be slow

 

Estonia, European country of only 1.3 million people. But this country is big on innovative e-Services and mobile-based services

 

In fact their economy runs on wireless.

 

Skype was invented by Estonian

 

It's not the size of economy. It's the mindset and the willingness to collaborate and bring everyone together on the same bandwagon that makes the difference.

 

Hong Kong already has the Octopus card for decades, can pay almost everything with it.

[Jusnel]

I'm not exactly talking about the reasons of why we are behind. I was just referring to his analogy where he alluded us to being the front runner (he said "fast runner") when this is clearly not the case.

 

Anyway, for something like mobile payments, we don't really need a huge domestic market to have it succeed. We just need a population receptive to change and trying new things. My wife still has some friends who don't want to use internet banking and go down to an ATM to make money transfers Those fellows are in their early thirties.

Don't say IB.

 

I still see long queues of people on Saturdays, in the bank, just to update bank book. And these people are not only the old people. There are young people in the same queue.

 

What the heck about bank book?? Why people still need bank book??!!

 

Well, just like my post in the SMRT breakdown thread. We are still doing things like a 3rd world country

[Lala81]

Having a small domestic market is not an excuse to be slow

 

Estonia, European country of only 1.3 million people. But this country is big on innovative e-Services and mobile-based services

 

In fact their economy runs on wireless.

 

Skype was invented by Estonian

 

It's not the size of economy. It's the mindset and the willingness to collaborate and bring everyone together on the same bandwagon that makes the difference.

 

Hong Kong already has the Octopus card for decades, can pay almost everything with it.

 

Don't disagree.

Just that in Singapore, if there's no national push, the existing stakeholders (banks, NETs etc) will just all dilly dally.

 

For starters, ez-link, cashcard, Nets flashpay (I don't even know what this is), should just all be intergrated.

Don't say IB.

 

I still see long queues of people on Saturdays, in the bank, just to update bank book. And these people are not only the old people. There are young people in the same queue.

 

What the heck about bank book?? Why people still need bank book??!!

 

Well, just like my post in the SMRT breakdown thread. We are still doing things like a 3rd world country

 

Bank book is still a physical record of your account.

Imagine if your data is wiped from the bank's servers. 

Don't say it can't happen just because it hasn't.

 

If you have an error in your bank statement, currently POSB/DBS can go back 6 months. UOB can't even go past 2 months back.

[Blueray]

Health tax coming.

 

So people will cherish health.

[Kzone]

I think there is no need to tax for sugar, as they can advise soft drinks manufacturers instead to reduce the sugar levels in their products. After all, most soft drinks sold here are manufactured in Singapore and Malaysia. Those manufacturered in other countries probably are already less sweet than local produce ones.

If they go on taxing anything including food contents here, seriously something is going wrong in this country, either it has becoming too suffocating to live with to many regulations or the country is really having problems in its finances.

 

Current problem is less sugar variants of stuffs sometimes cost even more than the regular versions.

[Kusje]

Don't disagree.

Just that in Singapore, if there's no national push, the existing stakeholders (banks, NETs etc) will just all dilly dally.

 

For starters, ez-link, cashcard, Nets flashpay (I don't even know what this is), should just all be intergrated.

 

Bank book is still a physical record of your account.

Imagine if your data is wiped from the bank's servers. 

Don't say it can't happen just because it hasn't.

 

If you have an error in your bank statement, currently POSB/DBS can go back 6 months. UOB can't even go past 2 months back.

 

It's about how the bank wants to handle it. POSB/DBS (I don't have UOB) system is kinda lame. They send you an email telling you that the statement is updated and you have to log on to check and also to download the statement if you want to keep a copy.

 

SC and Citibank have a different approach. They send you the statement directly in the email (with a password lock). I appreciate this approach much more. 

[DACH]

Don't disagree.

Just that in Singapore, if there's no national push, the existing stakeholders (banks, NETs etc) will just all dilly dally.

 

For starters, ez-link, cashcard, Nets flashpay (I don't even know what this is), should just all be intergrated.

 

 

Bank book is still a physical record of your account.

Imagine if your data is wiped from the bank's servers.

Don't say it can't happen just because it hasn't.

 

If you have an error in your bank statement, currently POSB/DBS can go back 6 months. UOB can't even go past 2 months back.

Remember the DBS ATM fraudulent withdrawal case back in 2012?

There is no fail safe measures to completely safeguard your hard earned money in the bank. Even banks themselves can't protect themselves from online frauds, hacking, etc. It's still your duty to check your savings account intact.

It is best to keep a physical record of your bank transactions and point out to the bank immediately if you noticed something is wrong. It also helps you to monitor your periodic spending directly from the records.

Been doing this since 2012's incident. Don't always take for granted that the banks are always safe.

Edited August 21, 2017 by DACH

[Kusje]

Current problem is less sugar variants of stuffs sometimes cost even more than the regular versions.

 

Like brown rice costing more than white rice?

[Nav14]

NDR used to be a time when the ordinary citizen could understand what the senior leadership was thinking about the challenges we faced as a nation.

While it's better not to talk about the geopolitical landscape given we just smoothed over relationship with China. At least talk about the increasing problem of globalisation and automation on the effect on the working population.

Heck even talk more about the govt scolarships being less engineering heavy in the last 2 decades.

 

While the 3 points covered yesterday should have been covered, they should have just been part of the speech. Not the whole speech.

The  most uninspiring National Day Rally speech I have heard.

Either it is an attempt to divert public's attention from more serious issues facing Singapore or PAP has really become clueless in recognising and addressing the issues facing the nation. Looking at quality of recent policy making, I believe it is the latter.

 

Singapore is in deep sh-t but as usual the majority will never realise it.

[Spidey10]

I think there is no need to tax for sugar, as they can advise soft drinks manufacturers instead to reduce the sugar levels in their products. After all, most soft drinks sold here are manufactured in Singapore and Malaysia. Those manufacturered in other countries probably are already less sweet than local produce ones.

If they go on taxing anything including food contents here, seriously something is going wrong in this country, either it has becoming too suffocating to live with to many regulations or the country is really having problems in its finances.

Soon all the prices of canned drinks will be up by a dollar or two!! Sugar tax!!!  

and to help pple dun get diabetics...in the future, can see the can drinks same price as ciggies....

[DACH]

Soon all the prices of canned drinks will be up by a dollar or two!! Sugar tax!!!

and to help pple dun get diabetics...in the future, can see the can drinks same price as ciggies....

Drink producers can produce drinks with less sugar and consumers can have the option to buy less sugar drinks.

Don't need to use tax for every single thing.

[Turboguy]

The most uninspiring National Day Rally speech I have heard.

Either it is an attempt to divert public's attention from more serious issues facing Singapore or PAP has really become clueless in recognising and addressing the issues facing the nation. Looking at quality of recent policy making, I believe it is the latter.

 

Singapore is in deep sh-t but as usual the majority will never realise it.

Then don't even bother to watch it like me, just read the online citizens kpkb and you will have the true insight updates, lol

[MTL]

Don't disagree.

Just that in Singapore, if there's no national push, the existing stakeholders (banks, NETs etc) will just all dilly dally.

 

For starters, ez-link, cashcard, Nets flashpay (I don't even know what this is), should just all be intergrated.

 

 

Bank book is still a physical record of your account.

Imagine if your data is wiped from the bank's servers.

Don't say it can't happen just because it hasn't.

 

If you have an error in your bank statement, currently POSB/DBS can go back 6 months. UOB can't even go past 2 months back.

I think the links card etc belong to different pte companies.They can just merge and be shareholders imo.

[Gizmore]

Current problem is less sugar variants of stuffs sometimes cost even more than the regular versions.

The stupidity of the whole less sugar idea. I don't understand why I have to pay more for less. If I really need to cut down sugar, I simply avoid the stuff that have way too much sugar.

[BenTong]

I'm not exactly talking about the reasons of why we are behind. I was just referring to his analogy where he alluded us to being the front runner (he said "fast runner") when this is clearly not the case.

 

Anyway, for something like mobile payments, we don't really need a huge domestic market to have it succeed. We just need a population receptive to change and trying new things. My wife still has some friends who don't want to use internet banking and go down to an ATM to make money transfers Those fellows are in their early thirties.

I am one of those ppl.. I like to cold hard cash.. I also got lots of banana leaf..

[Ysc3]

There are a percentage of babies born with complications, or are impaired with complications soon after delivery. The medical costs can hit up to hundreds of thousands. As private insurers will never insure newborns with condition, it is non-claimable.

 

New policies seem to include measures brought up to encompass such sad cases with medisave medishield, and this will help prevent moral families from plunging into financial dispair

 

Give credit when it's due.

 

The post election government has done well this time, much better in fact.

 

I don't mean to be cruel or rude.

 

but if the child is born with serious complications that might draw a few hundred dollars hospital bill, one should consider if its really good that the child be born ? i am guessing that the child will require almost life-long medical support. How long can the parent take care of the child ? how would the child experience the world and life itself ?

 

this will be for the parent to decide.