Principles of Economics - The Circular Flow Diagram

Why no PCR or ART tests for inbound tourists from China ?

I read with some disbelief that inbound tourists from China (who are allowed to travel from today Jan 8th 2023) will not be subjected to any kind of tests PCR (taken normally within 48 hours before departure) or the ART (antigen rapid test) upon arrival.

Over a dozen countries have imposed such tests to protect their healthcare and their citizenry.

Singapore and many other ASEAN countries have not. Is this a foolish act ? 

While I welcome tourists to our sunny island, China has recently experienced a wave of Covid infections running into the (hundreds of) millions, and there may very well be a next mutation from the Omicron originating from China. We may very well see the X- version of the COVID. Our health care providers are stretched to the maximum these past few years (kudos to them) and can they withstand another onslaught ?

SARS and the last COVID - 19 which hit the world with such force was from there.

While the logic is that the virus wanting to stay alive and propogate, will be highly transmissible, it will mutate and emerge as a mild form, and not endangering the host, the fact of the matter is that in early 2020, the first wave of COVID -19 did come from China or was detected from that country.

We are putting our health care infrastructure up to the mammoth task, with this opening without any kind of safeguard, to boost the economy via tourism.

Has this been thought out thoroughly or is this some foolish disregard to present 'business as usual' ?

I really hope there is no 'next wave'. 

  

The shocking COE prices ; what is this due to ? Inflation ?

The certificate of entitlement of the last 9 months for cars above 1600 cc has been hovering over the $100,000 level.

This is a totally unsustainable or untenable if, going forward for ordinary citizens like me.I do not intend to buy a new car, but the after June 2024 (10 year use), my car will either go to scrap and I get back the ARF (additional registration fee) and use that amount (S$ 55K) to buy the PQP 10 year (COE), so that means I will need to cough up an additional $50,000 IF I want to drive the car (E 250) for another 10 years.

For 5 years, I will need then to pay half the amount or about $25,000.

This situation is exacerbated by inflation and the rising costs of living caused in part by the war in Europe, US Fed Reserve raising bank interest rates, and the worsening global economy.

I believe that with the influx of new migrants with wealth, especially from certain parts of Asia, could be one of the reasons why the price of cars above 1600cc (the more luxurious sedans) since if the car costs (for example) S$ 800,000, then $100,000 is 16% of the total cost of ownership of the car. So, for the owner of a Ferrari , Maserati or Rolls Royce,  the total cost of ownership is increased by 16%. But for people who can barely afford $ 60,000 for the basic car, then another $80,000 (for cars below 1600 cc), then it is an additional 125% of the car cost.

Hence, the COE system benefits the more well off.    

Honestly, if the situation continues like this for 6 months or more, (high COE prices, high rental prices, and the new BTO flat prices are easily S$ 350,000 and above for a basic 3 room flat), there will be unhappiness amongst the ordinary folk, its just a matter of time. 

  

2023 Goals

I have several goals to achieve for 2023. 

Business 

Goal 1   

Achieve US$ 3 million in Gross Revenue for FY 23/24 (July - June) ; 

Currently is US$ 500K for FY 21/22. 

How to Achieve it 

We need to sell 2 - 3 Athletic Chambers Internationally. 

Goal 2 

2.EBITDA : (trade secret), enough. 

Goal 3 

Achieve US$ 2 million in gross revenue for calendar year Jan - Dec.

Since company goals are made public, the strategies have to be private, but it entails getting new markets set up, new staff and (potentially) new equity partners in the short run.

Personal 

1. Lose 5 kg (from current 75 kg) 

I plan to do this through a combination of strict dieting, willpower, prudent exercising and cutting down on the 'luxuries' such as alcohol, chocolates and crisps. Not easy but goals are meant to be challenging.

The motivating part, will be I will look trimmer, and feel much better, as well as sleep better.

2. Run a marathon overseas 

I've said this numerous times,and numerous times, I have failed. This time I mean it.

3. Training using high technology equipment to achieve my best health and peformance.

Our company builds athletic chambers ; the purpose is to enhance athlete performance by improving body VO2 max uptake by simulating high altitude environments and forcing the athlete to perform at 80 - 90% of his previous work rate at sea level.

It entails proper nutrition, sleep and DISCIPLINE.

Will I achieve my goals ? 

Damn I am 60 years of age. 

How much longer do I need to kid myself ? 

Birthday Musings 2

 

USA Ribeye at Wooloomooloo Suntec City 

What to expect in 2023 

Times will be lean for trading businesses unless they have a team of service staff. 

Traditional shops will be hard pressed to stay afloat. Online portals seem the best way to make money.

Middle East countries are set to flourish with business opportunities after World Cup.

Happy Dinner 

Hyundai Motor R and D Centre in Singapore will yield huge opportunity for test houses such as mine. 

Research and Development will herald a new dawn for many new jobs.

There will be jobs aplenty for Computer Science and Tech graduates. 

Happy Father with his 2 sons 

I am chasing at least 2 major projects in 2023. With this, it will reinforce our business focus as the premier supplier of athletic test equipment worldwide. 

Lets hope we are indeed successful.

Birthday Musings 1

I celebrated my birthday on 27th Nov recently. It was a Sunday and my wife had a wonderful surprise for me. She secretly arranged for my younger son, Andrew, to fly back to Singapore just in time to spend my birthday with me. It was a fantastic present for me. In addition, it was  overdue as he needed to come home for some quality family time.It was a lovely secret and a wonderful surprise from May. I am hugely grateful to her for making this once in a lifetime experience which any father would cry with joy.

Thank you. I was beset with joy as you would expect. 

I had no inkling, and the day was like any other, except that when it came to dinner, I exclaimed, : "Woah, Andrew, how in the world ???". The best things in life money cannot buy like a family together. I have and I am so blessed to have a lovely and supportive wife, 2 young men who strive to build up their lives and careers in an upright manner. 

What more can a father (parent) expect ? Ha ha. I know the answer !  

My happy family.

From left : Noel, Andrew, May and me. 

We try all our lives to lead good lives and create meaningful relationships with the people around us. No one is perfect, except God and while we have our failings, we must never give up on ourselves or with our loved ones, for with the positive human spirit, we can always try to make life a little better. While we are privileged to be living in a post modern Singapore, there are people who fall between the cracks and need support. So, that is where I want to position my 3rd age focus when I actually get to it.

 

The world is facing unprecedented challenges in population, (8 billion), climate change, sustainability, food shortages, oil shortages caused by war in Europe, the tensions between US and China, escalating prices in food, electricity and everything, it is scary to think too deeply about whether we can actually retire in comfort, in say 5 or 6 years time.

Rather than fall and feel depressed about the future, we can take firm steps to ensure we have saved enough and to have proper medical insurance covering every conceivable scenario

We need to make sure that the next generation is well prepared to take on the big challenges of the coming decade. 

It is not for the faint hearted.

 

As I age, I find new hobbies

The 60 year old body is not something to be taken lightly. I have a 'bum knee'. Apart from that, I am OK, and I am very fortunate and blessed for everything else. I was a very good runner for the greater part of 20 years.

I finished running 10 full marathons and over 10 half marathons in those 20 years. Its time to move to more sedate and less impactful hobbies as my body literally can't take it.

I went out and bought myself a foldable bicycle from Queensway for $248. It is a steal at this price and today I went out and had a 1.5 hour hard ride along the waterfront at Tanjong Rhu. The weather was nice and cool and the ride was uneventful from the start near the Singapore Swimming Club, to the end at Old Airport Road, all the way to the Marina Barrage and back.

The knees may be stiff, the body may be aging fast, but my spirit is still young at heart.