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Who are the 1MDB men who are on the run: One already in the net!

The Independent
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Who are the 1MDB men who are on the run: One already in the net!

JHO LOW

There is no need to introduce the number one fugitive in the 1MDB scandal. Malaysia has issued an arrest warrant for Mr Low. Singapore also said on Friday it has issued an arrest warrant for Mr Low in 2016.

Singapore has also issued a warrant of arrest for Mr Low’s associate, Tan Kim Loong, and requested an Interpol notice.

It is the first time Singapore has acknowledged it was seeking Low’s arrest.

Said to be hiding in China together with Nik Faisal, Mr Low made contact with the MACC promising that he will cooperate in the investigation.

However, knowing his ability to hide, there are no guarantees that he will turn up in Malaysia to risk a definite arrest.

He is the main figure around the 1MDB scandal, a man who apparently became very rich thanks to the money spilt from the Malaysian sovereign fund.

He is highest on the list of fugitives.

NIK FAISAL ARIFF KAMIL

Mr Nik Faisal is one of three key people that Jho Low planted in both 1MDB and its subsidiary SRC International Bhd.

The Malaysian Anti-Corruption Commission (MACC) has launched a warrant of arrest for the elusive fugitive.

He rose to fame in his role as the person who operated the bank accounts of ex-PM Najib Razak at AmIslamic Bank to which US$700 million of 1MDB money was allegedly transferred to. The allegation of the transfer was made by Sarawak Report first, then picked up by the Wall Street Journal and later on by the American Department of Justice (DoJ).

His current whereabouts are unknown but he was put on the wanted list by the Malaysian Anti-Corruption Commission (MACC) in 2015.

He has not given any sign whether he is willing to cooperate with the Malaysian authorities.

Chances are that he might also face an Interpol alert soon.

DATUK SHAHROL HALMI (Possible MACC witness)

Picture Credit: Video grab of report on Datuk Shahrol

A warrant was also issued for the 1MDB’s ex-chief, Shahrol Halmi. Halmi has since then returned to Malaysia and surrendered himself over to the MACC.

The Datuk is identified as 1MDB Officer 2 by the DoJ.

He was CEO of 1MDB from 2009 to 2013, during which time all the major deals were executed.

The PAC report recommended that he should be investigated for decisions he made, a number of which were without board consent and knowledge.

A former executive of Accenture, he was attached to the Prime Minister’s Department after leaving 1MDB.

Shahrol, whose full name is Shahrol Azral Ibrahim Halmi claimed that Najib had refused the revaluation of assets in 1MDB’s joint-venture with PetroSaudi International (PSI) despite concerns raised by the 1MDB board of directors.
He made those statements to the Public Accounts Committee (PAC) and it appeared in their report which referred to Najib in his position as 1MDB board of advisers’ chairperson.
According to the report, the 1MDB board of directors had doubts about the joint-venture in which 1MDB was to commit US$1 billion in cash while PSI would only need to commit at least US$1.5 billion in energy assets to their joint-venture vehicle 1MDB PetroSaudi Ltd.

ROGER NG

A former Goldman Sachs Group Inc banker, Roger Ng, is also on a ‘to be arrested’ link prepared by the MACC said Bloomberg.

According to Reuters, Malaysia is considering asking the DoJ to get Goldman Sachs to return nearly $600 million in fees it earned from bonds raised for 1MDB.

Goldman has always maintained that it did nothing wrong and that it had no visibility into whether some of the funds raised may have been subsequently diverted to other purposes.

Former PAP MP Inderjit Singh gets in on the debate of the Singapore conversation; speak up Singaporeans, he says

Obbana Rajah
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Former PAP MP Inderjit Singh gets in on the debate of the Singapore conversation; speak up Singaporeans, he says

In a Facebook post on Thursday, former People’s Action Party (PAP) Member of Parliament (MP) Inderjit Singh got in on the debate between Mr Lim Yuin Chien – press secretary to Finance Minister Heng Swee Keat, and editor-at-large of the Straits Times Han Fook Kwang.

In his post, Mr Inderjit said, “there is this thinking in government that the views expressed by Mr Han and Ms Chua are from a vocal minority. I agree that the responses from the government unfortunately [do] not reflect humility”.

The dialogue that has been going on started with Mr Han’s column, in the Straits Times, titled, ‘Ministers, please speak plainly to the people’. In it, he asked that leaders “use the language of ordinary people”.

To Mr Han’s column came Mr Lim’s reply, which said that Mr Han’s column morphed into a dare to ministers to make sweeping promises”.

Mr Lim ended his column harshly saying, “The easiest five words to utter in politics are: ‘I promise you free lunches.’ But that’s not plain speech. That’s pandering and populism.”

The articles of the two men drew in many comments from netizens and Singaporeans alike.

Even a former Straits Times editor Bertha Henson got in on it with an article on her website.

https://theindependent.sg.sg/bertha-henson-on-a-second-singapore-conversation-are-the-4g-leaders-losing-it/

To all of this, Mr Singh added, “I agree that the responses from the government unfortunately does not reflect humility, as the mindset probably is that a silent majority don’t feel the same. This is why it is useful for more people to speak up sincerely so everyone knows what the real issues Singaporeans are concerned with. Listening with true humility and sincerity is critical if we want a meaningful Singapore conversation. So speak up Singaporeans.”

obbana@theindependent.sg

LTA and SMRT given the most feedback, according to feedback site #hearmeout

Obbana Rajah
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LTA and SMRT given the most feedback, according to feedback site #hearmeout

The Land Transport Authority (LTA) and Singapore Mass Rapid Transit (SMRT) are two organizations that have received the most feedback from netizens, according to #HearMeOut, a website launched by former CEO of NTUC Income, Tan Kin Lian.

The website was officially launched almost two weeks ago, with a soft launch that happened about a month ago.

Photo: tklcloud.com/feedback

After a month of running, organisations such as LTA, SMRT, the various Ministries, Grab, the National Environment Agency and even the Monetary Authority of Singapore received feedback from Singaporeans.

LTA had 11 comments, with seven of them being negative, one was positive and the remaining three were suggestions.

The gripes people had ranged from the issue of parking at housing estates, slippery tiles on pedestrian pavements and how transport companies should do away with the law of ‘no food or drinks’ on trains or buses.

Photo: tklcloud.com/feedback
Photo: tklcloud.com/feedback

Similarly, SMRT had six comments, with four of them negative ones. They also received one commendation and one suggestion.

Photo: tklcloud.com/feedback

Mr Tan launched the website on May 29, and he said “This website is for public to submit feedback (negative, compliment, suggestion) on a specific organization. You can also view the feedbacks on any specific organization”.

Those who give feedback on the site “have to provide [their] name, email and contact for verification by the administrator. The personal data will not be disclosed to the public but may be released to the relevant organization”.

The platform does seem to serve as a way for the common-man to express everyday problems he might face, or even bigger issues.

Mr Tan also added, “I wanted to create this website so that the general public can see the feedback. If there is a lot of negative feedback, the organization may be more inclined to act”.

On Facebook on Thursday, Mr Tan shared a post about the website.
He said, “Here is a summary of the feedback posted in the #HearMeOut platform, arranged by organization.

You can click on any organization to see the feedback for that organization.

The organizations with most feedback are Land Transport Authority and SMRT.”

obbana@theindependent.sg

Private residential price to grow up to 20 per cent this year says Savills

The Independent
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The strong recovery of the Singapore private residential market and the private residential price growth has taken many by surprise, noted a research report by Savills Singapore. It noted that to market observers, this recovery seems surreal because, unlike the previous market recovery in 2010 (post Global Financial Crisis), where the local economy rebounded by a strong 15.2% and the URA Property

Price Index responded with only a 17.6% YoY increase, this time, even if we see the 2018 economic growth rate hit 4.5%, well above market consensus, it will pale in contrast to the previous recovery. Yet private residential price growth in Q1/2018 have already risen 3.9% QoQ or an annualized rate of 16.5%.

The research asked a very searching question: “So what is driving this sharp price recovery?”, before venturing to answer its own question on private residential price growth.

“To begin, we need to do some mental housecleaning. While it appears logical to associate GDP growth with most business sectors, for private residential properties, it can also turn out to be an archaic correlation. Visits to show flats leave a discerning observer with the impression that an increasing number of buyers at new launches are funded in part by their parents’ i.e. baby boomers’ money. This new engine of funding turns the economic correlation from a contemporaneous and/or forward-looking one to a multi-year, back-facing specification.
Moving forward, until the day our ageing demography can no longer influence the market, housing demand may not necessarily be driven by traditional variables like interest rates, demographics and future economic
performances.
Rather, historical GDP growth rates will increasingly play a part. On top of that, theoretical investment function variables like interest rates, may, within bounds, lose their significance. The rear view mirror reflection of GDP represents the level of savings by the baby boomers.
Therefore, unless we expand our frame of reference to include the past, we will continue to misread the market by ignoring the savings level of the population of potential buyers.
Now savings is savings; what then is encouraging people to buy and developers to invest? A simple ratio cuts the long story short:
Future Launch Value of Private Residential Properties
Current Value of Private Residential Properties
The ratio for Singapore real estate is a modifiation of what in economics is called Tobin’s q. This ratio had been shown in economic research to exhibit a positive correlation to the level of investment. In other words, when the future market value of the physical asset (the numerator) is greater than its replacement cost, the impetus is for both individuals and companies to invest.
Although we have not conducted any empirical testing to confirm this for the private residential market, it conforms to what our marketing specialists are witnessing on the ground. The concept of a Tobin’s q for private residential properties is also clearly illustrated in the collective sales market when the ratio can be modified to:
Future Sales Price of All Units on the Collective Sales Site less Construction Cost
Current Value of Existing Units on the Collective Sales Site
A ratio >> 1 (>> means much greater) would start to whet the interest of some subsidiary proprietors to initiate a collective sale. This modified Tobin’s q is actually what collective sale specialists have been using to identify developments or pitch for appointments without knowing it.”

Savills Singapore said that fthey have touched on two alternative insights into the local private residential market, namely, the need to look at GDP backwards, and the ratio that encourages or discourages private residential investment. Without extending this field of analysis to other factors, by focusing on these two alone, they almost deciphered what the market outlook will be for the next twelve months.

“In the next few years, expect economic growth to be subdued compared to a decade ago while concerns about the ageing population increase. The manifestation of these issues may, however, for the medium term, be subjugated by the copious savings built up through the decades of high economic growth by the upper deciles of the households.
“This, together with the ingrained expectation for price appreciation, built up over many years of witnessing private property prices increase to record levels, are likely to goad those with the wherewithal to invest in real estate. The same goes for real estate developers whose balance sheets have become stronger over the decades and whose view of the long-term price appreciation of house prices gives them confidence to reinvest their capital.
“On the strength of Q1/2018’s strong 3.9% QoQ price increase, we are revising our forecast for 2018’s private residential price growth from 12%-15% to 15%-20%.”

Paul Ho, chief mortgage consultant at icompareloan.com, commenting on the recent private residential price growth said that the growth is only in certain segments. Even the luxury segment is split into two portions (the luxury segment and the super luxury segment), he explained.

“The luxury segment is actually quite wide, generally any properties pricing above $2,000 per square feet would fall into this classification. In a vague sense, landed properties also fall under luxury segment if we classify them based on housing type,” Mr Ho said.

He added: “if we based luxury segment based on district, I will go for properties that are more than 10 years old, well maintained and selling at below $1800 per square feet for size segment of around 800 square feet to 1200 square feet. The price quantum is acceptable while there may be potential upside if the prices start to move up.”

“All these will ultimately have an impact on home prices and the private residential price growth in Singapore.”

—

If you are an HDB flat owner and want in on the action of the private residential price growth in Singapore, there is a possibility that you may be able to sell your HDB to buy 2 condos. Our Panel of Property agents and the mortgage consultants at icompareloan.com can help you now.

Our affordability assessment and best home loans will put your heat at ease and the services of our mortgage loan experts are free. Our analysis will give best home loan seekers better ease of mind on interest rate volatility and repayments.

Just email our chief mortgage consultant, Paul Ho, with your name, email and phone number at paul@icompareloan.com for a free assessment.

What happened to second chances? LTA follows SPF’s lead and rejects ex-offender’s application due to “previous adverse record”

Jewel Stolarchuk
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What happened to second chances? LTA follows SPF’s lead and rejects ex-offender’s application due to “previous adverse record”

The Land Transport Authority (LTA) has rejected an ex-offender’s job application due to his “previous adverse record.” The government body’s call comes after the Singapore Police Force rejected another ex-offender’s application for a security officer’s license, because he is “not a fit and proper person” given his previous conviction.

In that case, it was reported that the ex-offender was a former infantry regular in his 30s who served six months in prison for allegedly assaulting a construction worker who accosted his wife – an attack that caused the worker to suffer from a fractured nose and jaw.

In this latest case, the ex-offender had applied to the LTA for a bus attendant’s/bus driver’s vocational license only to have his application rejected due to his prior record.

Facebook user Jai Kali Singh who shared a photo of the rejection letter, dated 4 June 2018, revealed that the ex-offender is a mere 25 years old and wrote on social media:

“At first SPF now LTA also do not want singaporean earn decent living Appy for vocational get rejected becauze of record. How many foreigners driving grab and sbs bus have you check whether they have clean record or not.

“Its is getting harder and harder for Singaporean to survive in their own land. This person is only 25 years old with years ahead but the government kill him here. No mercy want to turn over new leaf also cannot.”

The picture of the letter prompted some netizens to question the point of second chance programmes like The Yellow Ribbon project is:

Others opined that LTA should be given the benefit of the doubt in this case, since they are not aware of what exactly the applicant’s prior record is:

Another civil servant defends the PAP; asserts people continue to vote PAP because it delivers

Jewel Stolarchuk
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Another civil servant defends the PAP; asserts people continue to vote PAP because it delivers

Another civil servant has come to the ruling party’s defense, rebutting an article that they feel is unfair to the People’s Action Party (PAP). High Commissioner for Singapore to the UK, Foo Chi Hsia, took on British publication The Economist and challenged the newspaper’s allegation that the ruling party here wins elections on an unfair playing field.

Foo’s rebuttal of the article comes after the press secretary to the Minister of Finance also came out to defend the PAP through a recent forum letter.

Press Secretary Lim Yuin Chien had been rebutting a Straits Times article that called on Ministers to speak plainly to the people. Fiercely defending the ruling party, Lim claimed that the PAP Government has been speaking plainly to the people for close to 60 years without obscuring the truth.

In this latest case, Foo took The Economist to task for an article published a few weeks ago entitled ‘South-East Asia: lots of elections, not so much democracy’. The paper put forth, “For in the dozen or so countries that make up South-East Asia, liberal democracy has long struggled in the face of authoritarianism, bolstered by monarchism, nationalism and ethnic chauvinism.”

Implying that Singapore wins elections on a skewed playing field, the paper added:

“Singapore leads the regional pack. The ruling People’s Action Party (PAP) has suffered no erosion of power in the 14 parliamentary elections since it came to power in 1959, even if it got a bit of a fright in 2011.

“Voting is clean. But the PAP wins not just by running the country competently, but also by instituting a favourable electoral system, harassing opposition politicians, cowing the media, threatening to cut spending on districts that vote against it and inculcating the absurd notion that its survival and that of Singapore itself are synonymous.”

The paper noted that such electoral tricks may have its limits and pointed to the stunning election upset that occurred across the causeway last month:

“In Malaysia, UMNO’s usual trick of bribing voters did not work this time, since Malaysians saw it as their own money. In Cambodia a political system that exists for no other reason than to distribute profit and privilege may not survive Mr Hun Sen. Even the Western-educated offspring of Cambodia’s elites admit to embarrassment.”

In a rebuttal letter that was published yesterday, Foo asked the paper: “How many former British colonies are there where voting has always been clean and their governments consistently competent?”

Taking the paper to task, Foo wrote: “The PAP won 70% of the popular vote in the last general election. Could a ‘favourable electoral system’ have delivered that? Your correspondents have been stationed in Singapore for decades. Did Singaporeans strike them as a people easily brainwashed into believing that the PAP and Singapore are ‘synonymous’?”

Asserting that Singaporeans are well-travelled and well-informed, Foo asserted:

“They continue to vote for the PAP because it continues to deliver them good government, stability and progress. The PAP has never taken this support for granted. As Lee Hsien Loong, the prime minister, noted recently, the political system is contestable. We have kept it so. The PAP could well lose power, and would deserve to do so if it ever became incompetent and corrupt.”

British newspaper The Economist comments that Singaporeans’ views don’t “count for much” when it comes to who succeeds PM Lee

Jewel Stolarchuk
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0
British newspaper The Economist comments that Singaporeans’ views don’t “count for much” when it comes to who succeeds PM Lee

In a rather blunt article, British publication The Economist commented that “Singaporeans are in the dark about their next prime minister…Not that their views count for much.”

While the article, entitled “Not much leeway,” was first published in the paper’s print edition in late April this year, the Government has still not given a clear indication as to who will succeed Prime Minister Lee Hsien Loong.

Interest in PM Lee’s successor heated up when the PM repeatedly announced in recent years that he would step down some time after the next general election, which must be held by 15 Jan 2021. Minister for Trade & Industry Chan Chun Sing, Finance Minister Heng Swee Keat and Education Minister Ong Ye Kung remain the top three frontrunners tipped to succeed PM Lee.

Many, including Emeritus Senior Minister Goh Chok Tong, have expressed hopes that the Government will give a clear indication as to who will become the next head of government soon. PM Lee, however, has repeatedly said that the selection of his successor will take time. The most recent Cabinet reshuffle also mostly failed to shed any light on who the next PM will be, even though several fourth-generation leaders received more responsibilities.

Calling PM Lee a “pillar of stability” and opining that the Lee “will almost certainly win the next election,” The Economist identified Chan, Heng and Ong as the top three contenders for the top spot. It proceeded to comment that “public opinion is unlikely to play much part in the decision.”

Noting that the government is “further crimping freedom of speech in a country not exactly known for it,” the publication pointed to the new law where the police can ban the dissemination of videos and pictures of certain incidents, the plans to install facial-recognition software on more than 100,000 lampposts and the Select Committee on Deliberate Online Falsehoods as measures that will help the government “be well defended against unruly critics” no matter who takes over from PM Lee.

Pakatan Harapan: Body language says never again the old days

Tan Bah Bah
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Pakatan Harapan: Body language says never again the old days

You learn a lot from the body language of people, especially politicians. As I look back at the body language of the main winning political players in Malaysia’s GE 2014, I sense a strange desire to “make this thing work”.

Many readers may disagree with me (and I totally expect it, these are strange bedfellows out there). Yet, there is a strong comfort level being exhibited by key Cabinet members in the Pakatan Harapan administration. I only see goodwill and an utter preparedness to move on and get the country back in order.

It is like they have all beaten Sauron or the Dark Force. Never again. They will adjust. And they will succeed. All this will not be a small achievement, by any standard. It shows just how sophisticated politics is now in Malaysia, among the politicians as well as voters.

When Dr Mahathir Mohamad joined the Bersih rally in 2015, many people were surprised. Mr Anti-Reformasi throwing in his lot with the movement more associated with the person he first put in jail, his nemesis, Anwar Ibrahim? How’s that possible?

“I’ve forgiven Mahathir,” Anwar told reporters outside his home three year later, just hours after his release on May 16. “We’ve worked indefatigably hard together, he’s supported the reform agenda, he’s even facilitated my release. Why should I harbour any malice toward him?”

The Pakatan Harapan is not merely a movement but now a totally serious successor of the Barisan Nasional, the only government Malaysians have ever known for 60 long years.

This makes you wonder what would have happened if PH had lost. Mahahir in jail? Anwar still in jail?

After having suffered and survived, the two Malaysian political icons should be at ease with and more than eager to work with each other.

There should be an abundance of mutual respect. And both have certainly become more pragmatic. I may be wrong. The rather quick exit of A. Kadir Jasin, media head honcho for the Council of Eminent Persons, could be in deference to Anwar who has expressed his unhappiness with allegedly “inappropriate remarks” about Malaysian Royalty made by the veteran Malaysian journalist. Call him collateral damage.

Both Mahathir and Anwar may also have some bigger visions for the country.

They want larger roles for Malaysia.

In his prime years as PM, Mahathir saw himself as one of the spokesmen for the Islamic world and the non-aligned movement. According to Wikipedia, Anwar is the co-founder of the International Institute of Islamic Thought in the US.

Both can be said to be charismatic politicians much at ease with themselves and with what they have to offer their community.  They do not waste time trying to impress anyone with power points and sleep-inducing statistics. I have watched an interview Anwar gave to Julian Assange, the founder of Wikileaks. Very impressive. Mahathir I have seen on BBC’s Hard Talk and the Singapore Lecture. Equally formidable.

A number of the new Malaysian Cabinet have climbed through the ranks. The new Home Affairs Minister, Muhyiddin Yassin, a close Mahathir ally, was Deputy PM in Najib Razak’s cabinet. Lim Guan Eng, besides having been jailed twice by Mahathir, was not intimidated by anyone. As Mahathir said, “he knows his job” and Lim, who was Penang’s Chief Minister, seems a good fit as Finance Minster, coming with his banking background. Mohamed Sabu, the Defence Minister, revels as a speaker at political rallies.

Indeed, a significant section of the Malaysian Cabinet know exactly how deep a chasm the country was falling into when things went wrong. I would describe them as problem fixers with a sense of fair play. They have seen how when you shut out good people who do not play along, the result is a society that will decline with each passing year.

Post GE14, even if some wish to deviate, enough concerned leaders would make sure it does not happen again. The next time, the damage may be irreparable.

My prediction: Malaysia will no longer be like what it was. There is a new generation which will now not allow what happened before GE14 to happen again.

Not even UMNO. The sad faces of the younger BN leaders at press conferences say so.

Sense And Nonsense is a weekly series. Tan Bah Bah is a former senior leader writer with The Straits Times. He was also managing editor of a local magazine publishing company.

Residential property market in Singapore resilient despite success of cooling measures

The Independent
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A recent housing report by S&P Global Ratings said cooling measures have had some success in controlling house price inflation in the residential property market of Singapore. The report said that residential property markets in Asia-Pacific remain resilient amidst favourable economic conditions, tight labour markets and an accommodative monetary policy or cheaper money have supported the trend.

The report noted that while the private residential property market improved in the first quarter this year following a long period of price falls, public housing in Singapore is still undergoing “mild price declines”.

The price of HDB resale flays has not kept pace with the positive property market sentiments, fueled by several high-profile en bloc sales since the 3rd quarter of 2017. HDB resale flat prices fell by 0.8 per cent, from 132.6 in 4th Quarter 2017 to 131.6 in 1st Quarter 2018.

The median resale prices of HDB flats continue to drop even as the public housing developer announces the release of thousands of new Build-To-Order (BTO) flats.

The median resale prices in the various towns tabulated by HDB for the 1st Quarter of 2018 indicated that HDB resale flats in the Central region and Queenstown commanded top prices. 4-room HDB resale flats in Central region commanded a median resale price of $850,000, while flats in Queenstown commanded a median price of $722,500. At $650,000 and $640,000, the median resale prices in the estates of Bukit Merah and Clementi came in at third and fourth highest respectively.

Median resale prices of 4-room HDB flats in several estates came in at the $500,000 range. These flats include those in the estates of Bishan, Geylang, Kallang/Whampoa and Toa Payoh. 4-room HDB resale flats in Choa Chu Kang and Woodlands commanded the lowest median resale prices at $331,000 and $330,000 respectively.

S&P Asia-Pacific economist Vishrut Rana noted that out of the markets his firm covered, prices in the latest quarter fell in only three places – “mainland China’s tier-one markets, public housing in Singapore and Sydney.”

He added: “Several indicators, including residential transactions and housing starts, are showing cyclical downturn. Macroprudential policies have been effective in slowing down new mortgage borrowing, particularly by investors.”

A report by RHB Invest cautioned a few days ago that a high number of supplies coming onwards – following a surge of en-bloc sales – are likely to dampen residential property market over the next few years. “This is because developers have to build, sell and complete en-bloc land projects within a 5-year period to avoid higher charges,” it noted.

On the demand side, affordability in the residential property market has improved with the recent rebound in property prices, driven mainly by local buyers. However, low rental yields are likely to keep away property investors who are chasing for good returns.

The report suggested that property prices are likely to grow by 5-10 per cent in 2018, with the pace of increase to slow in second half with the oncoming rise in supply. Property prices are also expected to reach a peak within the next few years. But liquidity from en-bloc, and replacement and pent-up demand, should allow the
property cycle to last for a few years.

RHB said that in its view, Singapore is likely to see prices increase up to 20 per cent more from the current value before tapering off.

Chief mortgage consultant of icompareloan.com, said that despite the falling prices or resale HDB flats, its lessees are “sitting on stagnant equity in the form of their HDB house that is fully paid up or mostly paid up.”

The consultant, Mr Paul Ho added that “actually a sizable number of HDB flat lessees may buy 2 condos if they sold their HDB flat.”

“Those that don’t want to buy 2 condos, may instead opt to buy 1 condo, or simply buy another HDB flat. But the effect is the freeing up of equity which can be used for a child’s University education or simply to buy a retirement plan so as to retire better,” he said.

—

If you are are concerned about the escalating property prices and want to buy 2 condos by selling your HDB flat, our Panel of Property agents and the mortgage consultants at icompareloan.com can help you. Our affordability assessment and best home loans will put your heat at ease and the services of our mortgage loan experts are free. Our analysis will give best home loan seekers better ease of mind on interest rate volatility and repayments.

Just email our chief mortgage consultant, Paul Ho, with your name, email and phone number at paul@icompareloan.com for a free assessment.

DPM Teo on rejecting divisive views and enhancing community resilience

Obbana Rajah
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0
DPM Teo on rejecting divisive views and enhancing community resilience

Deputy Prime Minister Teo Chee Hean emphasised the importance of doing away with divisive views that might discourage people from interacting with one another.

DPM Teo spoke at an iftar dinner, organised by the Religious Rehabilitation Group (RRG) and the Khadijah Mosque in Geylang.

One of the main messages of his speech was how “we must remain vigilant at all times, and enhance our community resilience.”

In talking about community resilience, Mr Teo added, “We should reject views that limit our interactions and divide us as communities”.

In a speech he delivered in Malay, Mr Teo said that it is important that people from all faiths “can have meals together, visit one another, and share our joys and sorrows together”.

Also present at the event were Minister-in-charge of Muslim Affairs Masagos Zulkifli and his predecessor, Dr Yaacob Ibrahim, along with community and religious leaders of different faiths.

RRG co-chair Ali Mohamed spoke about a rise in violent extremism as religion gets increasingly politicised.

He said that in the face of religion being misused to promote the wrong agendas, within the community itself, racial and religious harmony should be promoted, along with awareness.

Mr Teo shared photographs of the event on his Facebook account. Along with the photographs, he wrote, “Many thanks for the important work of the RRG and community groups to counter extremism and help save individuals from doing harm to their families, loved ones & innocent victims. Let us continue to build trust and understanding between all communities, to safeguard the social harmony and unity that we enjoy.”

obbana@theindependent.sg

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SINGAPORE: Harpreet Singh Nehal, who had been part of...

Singaporeans weigh in with wish list for next Cabinet, the next Minister for Defence has big shoes to fill

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SINGAPORE: We are all guessing on the upcoming Cabinet...

Ng Chee Meng asks PM Wong to exclude him from government role in new leadership lineup

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SINGAPORE: Jalan Kayu MP and National Trades Union Congress...

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