Flying A Kite in West Coast Park.

My family went to West Coast Park on 29 Aug 2009.

We reached there before 3.30pm. By then, the park was already crowded with people. The car park was full. Cars were illegally parked along the main road all the way till Suzuki workshop. J has no choice but to park his car at a HDB flat far opposite to West Coast Park.

A long queue was formed for the goodies bag. Despite the sunny weather, the queue was extremely long. Isa and I managed to collect our goodies bags. Inside, there were a little white towel, a paper fan and a small bottle of water. We noticed others have a mat included which became handy in a picnic.

There was no free kite included. Luckily, we brought our own kite. We bought one at a neighbourhood shop, eager to try it out.

Very soon, J and Isa started flying the kite while I preferred to sit under a shady tree to read my story book.

Initially, I saw the two were trying to lift the kite up. Then in a short while, the fly was already up in the sky. Within minuties, the string was already taut and the kite was almost constant flying in the blue sky.

The feeling was wonderful. Isa sat on the little stool, one hand holding onto the string and the other, fanning herself against the hot weather.

There were many, many kites in the blue sky.

On a side note;
it rained almost the whole day on 30 Aug. We were lucky to have made a trip to West Coast Park on 29 Aug.
On 31 Aug, Ng gave me an old kite which he did not fly for some years. Now I have a few kite at home!

http://www.act3international.com.sg/kitefest.htm

Disappointment with new Cepas-compliant cards

I am utterly disappointed that for each GIRO top-up, I have to pay 25 cents and this is on top of maintaining minimum $3 on each card. Imagine the amount of money being held on all the cards per day.

In addition, is this convenience fee of 25 cents per GIRO top-up applicable on the new ezlink cards for students and senior citizens?

Can the relevant authority please clarify the fees and charges involved?

Army Museum - part 2

The Army Museum is located next to SAFTI MI and Singapore Discovery Centre. The nearest MRT is Joo Koon MRT.

As a group of about 45 staff and their family members, we had a guide to show us around briefly in the museum.

It is an excellent place to understand the Army in Singapore.

For more info, please visit www.armymuseum.gov.sg

S'poreans grossly under-insured: Study By Charissa Yong

THE average Singaporean now needs about $495,000 of life insurance, but is covered for only one-third of that amount - a drastic shortfall that needs urgent attention, an expert has warned.

According to a new report by Nanyang Technological University (NTU) Associate Professor David Yee, workers here aged from 20 to 64 are under-insured by as much as $525 billion nationwide.


An average Singaporean needs life insurance protection of $494,851. However, his existing life cover is only $165,628 on average, even after including mortgage insurance and CPF savings. This leaves a stunning shortfall of $329,223.

Prof Yee presented the report at a seminar on insurance held at the Intercontinental Hotel yesterday.

A working adult's protection needs should provide enough cash to maintain dependants' current living standards.

It should also cover any outstanding debts and funeral expenses. This excludes the contribution of a surviving spouse. In addition, it needs to cover housing costs, allowances given to parents and children's expenses, including education fees.

Working men aged 30 to 49 have the highest protection needs as they have the highest income and are likely to have higher personal loans.

Also, more dependants typically rely on them financially.

The male-female income gap is the main driver behind differences in the insurance needs of each gender, he said.

As couples get older, the husband tends to be the more dominant breadwinner, and so the financial burden of protection shifts away from the wife.

Those aged 30 to 39 were found to have the highest level of insurance ownership, but also the most protection needs.

This general under-insurance problem comes on the heels of another recent study, which found that Singaporeans consider themselves financially risk- averse.

It was conducted early this year by Swiss Re, a member of the Life Insurance Association.

Nearly three-quarters, or 73 per cent, of Singaporeans were aware of the need to insure themselves, but only 48 per cent were aware of how to go about it.

This highlighted a need for consumer education, said Mr Low Kwok Mun, executive director of the insurance supervision department at the Monetary Authority of Singapore.

He said that the incentive structures for insurance advisers currently tend to encourage advisers to push products that generate the most commissions, rather than the products that meet the needs of the consumers.

This does not align well with the nature of life insurance, which is to provide long-term protection to policyholders.

Mr Low urged the industry to ensure that incentive structures do not influence insurance agents to give advice based on any reason other than to meet the needs of individual consumers.

First Principal Financial's chief executive Mohamed Salim said one factor which contributed to the problem was the high turnover rate of financial advisers.

'Why would companies want to properly train their financial advisers if the turnover rate is so high? They end up performing the role of sales instead of financial advisory work,' he said.

'Industry regulators should consider looking at encouraging the need to develop good agency management practice as a requisite,' he added.

The NTU report estimated the protection needs of a working adult in various typical households in each broad age group. It covers only the scenario in which both husband and wife work.

The report is an updated version of a 2006 study, using research carried out in 2007. It surveys the most common household size for an age group.

source: www.asiaone.com/Business/My%2BMoney/Story/A1Story20090821-162517.html

My Comments:
An average local needs close to 500k of life insurance. A person earns 3k per month ie 36k per year or 40k per year to include the bonus. Imagine he works from 35 years (eg age 25 to 60), he would earn about 1400k per life.

Of course this is a way to simple calculation as I exclude the expenses needed, promotion, payrise, investment returns, liabilities etc.

A whopping of 500k (about thrice would become 1400k) is a bit hard to swallow but truly a more realistic number to crunch for today.

Army Museum - part 1

Hi Friends,
Have you been to the Army Museum located at Safti MI? Would this trip be another journey to discover the history of Singapore as in Old Fort Factory or Fort Canning Hill?
Stay tuned!

Nonya Food - part 2

A total of 5 adults and 3 kids turned up at the restaurant tucked away almost at the end of Heng Mui Keng Terrace.

We took quite some time to locate this cafe.

We were glad to make a reservation as the cafe was almost full.

The dishes offered were quite not many as initially thought. There were prawns (but I have a hard time removing the shells), mee-siam, laksa, chicken, curry vegetables, pork, etc not to mention the different varieties of nonya desserts.

I like the sambal prawns and soup (salted vegetables with duck). In fact, I drank at least 3 bowls of the soup and ate many prawns.

The laksa was not spicy but a bit sweet.

The mee-siam was not that sour and I like it.

The kids enjoyed the nonya kuehs and fruits.

Due to promotion, the price for an adult/child was $9.70+/$5.50+ (+ due to 10% service charge).

The service provided was average. The plates took quite some time to be cleared on our table, probably due to shortage of manpower.

Nonya Food - part 1

D has reserved a table for 5 adults and 3 kids in Chilli Padi Nonya Café located at Heng Mui Keng Terrace.

http://www.chillipadi.com.sg/

This newly open outlet is having a promotion till the end of August where the price for a buffet dinner is less than $10+ per adult.

The tv drama Little Nonya has ended quite some time ago but the fever on nonya food is still around.

I admit I am not very adventurous in food; any food that is too spicy or has a strong taste will put me off.

But I am willing to give it a try on nonya food.

Stay tuned for Nonya Food - part 2.

Assessment Books

In almost all the bookshops, we can find different types of assessment books for different subjects.

Assessment boooks are available for kids starting from Pre-Nursery (ie at age around 3). Can you imagine a 3 year old kid, instead of singing, running around and drawing, doing assessment books has become a part of his/her life? And very soon, this part will grow to become a significant part of his/her schooling life.

In the primary school, teachers will buy some assessment books and use them during the supplementary lesson. Parents continue to pile their children with more assessment books, so that their children will get more practice and do well in the exam.

In the secondary school and junior college, to prepare for the GCE O and A levels, the ten-year series which is actually a book comprising of past ten years exam papers, become a must-have for students sitting for the big exams.

Whether you like it or not, assessment books have become part of the life of a student and a parent with a schooling kid.

Will Writing - part 3

Today at about 2.30pm, I signed my will in a law firm located in Parkway Parade. The will has been prepared before I arrived. I waited for a short while. The lawyer was ready to see me.

He explained the content to me. He made sure what written was what I have indicated and wanted.

I signed, he and another witness signed. That is it!

Kite Festival

At about 3pm, the 3 kids Isa, Eli & Ly waited eagerly at the South Court Level 1 of Vivo City. They were waiting to learn how to make a simple kite.

Kites are probably aliens to the present kids but not the adults. The best part about this Making a Kite Workshop is it is for everybody, young and old. Mum, SP and I decided to try to make a kite with the kids too.

We were each given a piece of coloured paper. The kids shouted for the brightly coloured ones while we made do with whatever was given. We followed the instructions patiently while the kids started talking what design they would like to have as their kite. In the end, both Isa and Ly settled for a heart-shaped. The rest of us did not bother to cut or trim the coloured paper.

We were each given 2 thin bamboo sticks. We placed them perpendicular onto the coloured paper and used the sticky tape to stick them onto the paper. But before that, we have made a little hole on the paper where the sticks intersected each other.

The use of sticky tape was quite a challenging as the kids were busy cutting and talking. We were quite worried that they would cut their fingers instead.

The crowd was getting bigger; lots of fun, laughter and talking as more parents and their kids joined to learn how to make a kite.

We attached 2 strips of the ribbon at one end of the coloured paper. A long thread was tied through the hole made earlier. These were pretty easy for adults but not for the kids. Help were given by the staff and also strangers who were there to learn making a kite.

Viola, a simple kite was made in about 15 to 20 min!

The kids were eager to try on their newly-made kites. We were outdoor and they were flying their kites happily.

We will be at West Coast Park either on 29 or 30 Aug to Fly our Kites!

Something Meaning

Things are to be used, people are to be loved.
Unfortunately in reality, things are being loved and people are being used.

Dear friends,
Do you agree with the above?

My Experience with a Personal Banker from Citibank-Part 4

K from Citibank has updated me that the insurer has accepted my application and in the process of underwriting.
I should be receiving the policy document soon.
I am relieved that this issue has been finally solved.

My Experience with a Personal Banker from Citibank-Part 3

On Thur (6 Aug), the branch manager called! He apologized, citing that it was V's oversight to make such a mistake. After some dilly-dally, he suggested sending an insurance specialist (!) to meet me at a place/time convenient to me to explain a second recommended financial product.

Since I am keen on the product A, I have to accept it.

Wow, a CitiGold Relationship Manager K turned up; very polite and spoke very well. He explained the features of the second product to my satisfactory before I signed on the dotted line again. He promised to rush the submission first thing on Fri.

Yes, on Fri morning, I received an email from K to confirm the submission.

Now is waiting for the insurer of A to send me the policy documents.

Will Writing - part 2

AN update on my will writing; the law firm has sent me an email to inform me to go to the office to see the lawyer and sign. The office is in Parkway Parade.

Some dates in August are given to me for me to select. I can only make it towards the end of August.

I consider my will writing almost done. I can now have a peace of mind.

My Experience with a Personal Banker from Citibank-Part 2

Guess what, V called to say he felt uncomfortable selling me the product A and suggested me to write in to cancel my application!

I am in the losing end; my money has being away from my bank account for more than a week and now is either with Citibank or the insurer involved in product A.

I have to write in to cancel and then wait for the refund which is likely to take some days or even weeks.

What wrong have I done to face this inconvenience?

I called the hotline to ask another Personal Banker from the same branch to assist me. J called and I explained my situation to him.

Stay tuned to see if J is able to help me to end this nuisance.

My Experience with a Personal Banker from Citibank-Part 1

On 27 July, a man V called to introduce himself as a personall banker from Citibank. He emailed some info on financial products which he thought suitably for me. I fancied one of the conservative products A and corresponded with him.

On 29 July, we met at Citibank and the deal was closed. During the meeting, he recommended some other products such as Dual Currency Deposit etc which I knew came with high risk. I reminded him that our local famous businessman has yet to settle his case against Citibank on his forex loss.

On 5 Aug, I received the forms I have signed on 29 Jul. This set of document was called Personal Financial Record. To my utter surprise, a second product B from another insurer was mentioned as one of the recommended products. But the "conclusion" on the product recommended was still A.

I felt cheated and betrayed. How could V put something into record when I knew nothing of B. I fired an email to him. I asked what if he wrote I owe him a million dollars and that document has my signature?

He apologized profusely. He said that it was Citibank's requirement to recommend at least 2 financial products to clients and that the client chose one of them etc. But I said he should have told me in the first place before putting it down in black and white.

Now I do not know if I want to exercise my Free Look Period to cancel my purchase of A.

NDP 2009 Preview on 1 Aug 2009