can't imagine waking up at 4am to run 42km. I wonder which sane doctor or sinseh or health promotor would this is good for your body?

Tuesday, Mar 04, 2014

SSINGAPORE - A spokesperson for the SCDF said their ambulance took 19 minutes to reach a man who had collapsed during a marathon on Sunday as there was no sign of anyone requiring assistance when they arrived at the specified location at Tanjong Rhu Road.

They were subsequently informed that the man who had fainted was in close proximity to Stadium Crescent, and arrived within nine minutes.

The 45-year-old man later passed away and was pronounced dead at Tan Tock Seng Hospital.

The police have confirmed that the cause of the man's death was cardiac arrest.

Shin Min Daily News reported that the incident occurred at 5am, an hour after the race started.

The man is understood to have been taking part in the 42km marathon, but collapsed at the 11km mark. The Chinese daily identified the man as Martynn Koh, formerly a vice-president at a multi-national company.

He had taken part in the Standard Chartered Marathon Singapore last December and the Sundown Marathon in June.

A reader alerted citizen journalism website Stomp to a social media post describing how a man had collapsed suddenly while running in the 2XU Compression Run 2014 held at Nicoll Highway.

A spokesperson for the SCDF said a call came in at about 5.05am requesting for an ambulance for a man who fainted at Tanjong Rhu Road near Dunman High School.

"The SCDF ambulance arrived at the location within 10 minutes, but could not find anyone requiring assistance. The ambulance crew was subsequently informed that the man who fainted was in close proximity to Stadium Crescent.

"The ambulance immediately proceeded to the location and arrived within nine minutes. Upon arrival, a member of the public was performing CPR on the man.

"An SCDF paramedic immediately applied the AED and a shock was administered. Mechanical CPR was also applied on the man while enroute to Tan Tock Seng hospital.

"The hospital was alerted to be ready to receive the case."

Police are currently investigating the case as unnatural death.
- See more at: http://yourhealth.asiaone.com/content/ma...vdrCb.dpuf

Hmmm....

http://techcrunch.com/2014/02/27/trade-s...robinhood/

Zero-Commission Stock Trading App RobinHood Kicks Off Private Beta
Posted yesterday by Josh Constine (@joshconstine)

RobinHood is about to let anyone buy and sell stocks for free instead of having to pay E*Trade or Scottrade $7 per transaction. Today RobinHood begins inviting the 160,000 people who’ve signed up to download its glossy new app where you can efficiently track and trade stocks. “It’s by far the most beautiful brokerage app, though that’s not saying much” co-founder Vlad Tenev jokes.

But while RobinHood makes Wall Street look stylish in your pocket, what’s special is what it does, and does for free. That’s letting you trade stocks with zero commission. You might assume it would cost RobinHood money to execute trades, but in fact it can make money by moving yours around. We’ve just been conditioned to assume its something you have to pay for after decades of investors handing Scottrade, E*Trade and other brokerages $7 to $10 for each buy or sell.

[Image: screenshot-2013-12-18-at-6-36-44-am.png?w=680&h=212]

Those who want their trading for free can sign up for RobinHood and expect an invitation email over the next few weeks to months. Since you’re trusting it with your savings, RobinHood wants to onboard people with extreme care rather than as fast as possible. But soon it expects to be holding hundreds of millions of dollars for its users so they can make instant trades from their phones.

RobinHood gave TechCrunch the first look at its new app, and its investor Google Ventures‘ attention to design is readily apparent. The whole app is themed white or black depending on if the stock market is open or closed. Meanwhile, the app’s chrome goes green or red depending on if the currently viewed stock is up or down that day. This trick tells you at a glance whether you can officially trade or not and how well you’re are doing.

Most finance apps only let you monitor stocks like Yahoo Finance or the first version of RobinHood, or charge you to trade them like those from the big retail brokerages. RobinHood co-founder Baiju Bhatt stresses that if you want to do deep financial research, you probably want to sit down at a desktop. But if you want to check your stocks whenever you have free moment and make some trades when the courage strikes you or whenever something shocks the market, RobinHood lets you do it in a few swipes. [Disclosure: I was friends with Vlad and Baiju in college.]

You can set alerts in case your stocks move a certain percentage, or place limit orders that are executed if the price hits a certain point. When you’re ready to make a live trade, just select how many shares of a stock you want to buy or sell. RobinHood previews how much that will cost or earn you, and you swipe to confirm the trade (which triggers some delightful animations and buzzes). And because security may be the biggest threat to RobinHood, it even lets you set up a special pin code that’s required to open the app.

[Image: robinhood_threescreens.jpg?w=680&h=402]

RobinHood says it will never charge for trading. Right now, it’s supported by over $3 million in funding from Google Ventures, Index Ventures, Andreessen Horowitz, Rothenberg Ventures and some angels. But it plans to quickly become self-sustained by charging other developers for API access, letting users trade on margin (money they’re owed but don’t own yet) for a fee, and through payment for order flow where stock exchanges pay the startup to bring its trading volume to their marketplaces.

For now, though, RobinHood could democratize stock trading. If you were a fat cat trading in the hundreds of thousands or millions, those little $10 fees didn’t mean much. But if you’re not rich and still want to invest, those commissions could add up to eat away at what you earn through smart trading. By replacing brick-and-mortar store fronts and legions of salespeople with an app and a lean engineering team, RobinHood can pass the savings on to its users.

my close classmate's uncle was one of the pioneer batch enlisted for ns, but passed away some years ago because of heart attack in his sleep. life for him in construction line making/climbed the roofs for many public schools in Singapore, because of the hot weather & sun, drank quite a lot of soft drinks, smoker, left behind a hdb flat for his abusive wife, & a child. looking back his life, didn't really enjoy much except for the tough ns I guess.

SINGAPORE - A day after the Budget fleshed out details of the generous health-care benefits in the Pioneer Generation Package, Deputy Prime Minister Teo Chee Hean said he was happy the age range was extended to 65, as this recognises the first batch of national servicemen.

Deputy Prime Minister Teo Chee Hean Facebook post:

"Happy that pioneer gen age extended from 70 to include the 190,000 Singaporeans now 65 to 69 - recognises our first batch NSmen.

"Careful budgeting means we can set aside a fund now to fully pay for this level of pioneer benefits without burdening younger generations."

What the Pioneer Generation are getting:

The much-anticipated package for Singapore's pioneer generation will give this group assistance with their health-care needs for the rest of their lives.

A bumper bundle of top-ups for Medisave accounts, help with outpatient medical costs and subsidies for Medishield Life premiums for the country's pioneers was unveiled by Finance Minister Tharman Shanmugaratnam in Parliament on Friday.

He said these benefits will apply to all Singaporeans who were at least 16 years old in 1965, when Singapore became independent. These 450,000 or so Singaporeans will not be differentiated according to income levels, because "our objective is to honour the contributions of this whole generation". But lower-income pioneers will still benefit more through higher health-care subsidies for poorer Singaporeans, he added.

First, all pioneer Singaporeans will receive annual Medisave top-ups of $200 to $800 depending on their age group. Pioneers will also get a further 50 per cent off their bills at specialist outpatient clinics and polyclinics. Their total subsidies at specialist outpatient clinics will now amount to 75 per cent to 85 per cent of their bills.

In additional, all pioneers will also now qualify for the Community Health Assist Scheme (CHAS), which subsidises private GP and dentist visits. Previously, only the lower-income could qualify for CHAS.

For pioneers who are disabled or immobile, they or their nominated caregivers will get cash assistance of $1,200 a year. Finally, pioneers will pay a subsidised rate for the upcoming MediShield Life universal health insurance scheme. Their premiums will be offset by 40 per cent for those aged 65, rising to 60 per cent for those aged 90 and above.

Mr Tharman made clear that for those aged 80 and above, the Government intends to fully cover their MediShield Life premiums through a combination of subsidies and Medisave top-ups.

S$8b fund to pay for pioneer generation package

Singapore will set aside S$8 billion in a fund to pay for the Pioneer Generation Package, said Mr Tharman.

It has estimated that the cost of providing the extra benefits to the Pioneer Generation over their lifetimes will be slightly over S$9 billion in nominal terms.

The fund will be used to meet the full projected cost of the pioneer generation package, Mr Tharman told parliament.

Of the S$8 billion in the Fund, about half will be drawn down in the first ten years, he said.

The S$8 billion fund is not intended to cover the underlying healthcare subsidies that the pioneer generation receives together with all Singaporeans. "These will continue to be funded from future annual budgets," said Mr Tharman.

Medisave top-ups of S$200-S$800 for pioneer generation

Singapore plans to include annual Medisave top-ups of S$200 to S$800 for the pioneer generation, said Mr Tharman.

Older pioneer generation cohorts - Singapore citizens who were 16 years or older in 1965 and who received citizenship by Dec 31, 1986 - will enjoy larger top-ups, which will be paid out in August this year.

As for MediShield Life, all pioneer generation members will enjoy subsidies starting from 40 per cent of the MediShield Life premium at age 65. This will rise to 60 per cent of the premium at age 90.

"This means that a 65-year-old today - who is expected to live to 85 - will get a 50 per cent average subsidy over his lifetime," he said.

For pioneer generation members aged 80 and above in 2014, Singapore plans to fully cover their premiums through a combination of premium subsidies and Medisave top-ups.

The MediShield Life subsidies will be implemented in end-2015. MediShield Life will cover all pioneer generation members, including those with pre-existing conditions.

The pioneer generation package will apply to those who were at least 16 years old in 1965. In total, about 450,000 Singaporeans fulfil the criteria.


The early years of National Service

Click on thumbnail to view photos. Source:

The Straits Times, Berita Harian

Up to 85 per cent subsidy for treatments at specialist outpatient clinics

Singapore plans to give the pioneer generation of Singapore a further 50 per cent off their subsidised bills at specialist outpatient clinics (SOCs), said Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance on Friday.

This means that all pioneer generation members will receive a 75-85 per cent subsidy for treatment at SOCs. They will also get an additional 50 per cent off their subsidised bills at polyclinics.

Those of the pioneer generation who are under the community health assist scheme (CHAS) - which is currently targeted at lower and middle-income Singaporeans - will enjoy additional subsidies. Those who are not on CHAS will now qualify, Mr Tharman said.

Also, pioneer generation members with moderate to severe functional disabilities, or their nominated caregivers, will receive cash assistance of S$1,200 a year, he said. This is as such Singaporeans face much higher long-term care expenses.

Subsidies for SOCs and polyclinic services, as well as disability assistance, will be implemented in September 2014. The additional CHAS benefits will be put in place in January 2015.

The pioneer generation package will apply to those who were at least 16 years old in 1965. In total, about 450,000 Singaporeans fulfil the criteria.

Asia's richest person shares

Wednesday, Feb 19, 2014
Having trouble envisioning yourself with your own home and a car in the near future? The richest man in Asia, Li Ka-shing, has some tips for you.

In an article posted on CEO Connectz, Li Ka-shing, who is worth US$31 billion, talks about how one can afford to live comfortably with a house and a car even if their monthly pay is below $500 a month.

Having trouble envisioning yourself with your own home and a car in the near future? The richest man in Asia, Li Ka-shing, has some tips for you.
Lee suggests that wage-earners put their monthly salary proportionately into five sets of funds with different purposes.
The first fund with 30% of your salary, second with 20%, third with 15%, fourth with 10%, and fifth with 25%.
The first set of funds is used for living expenses. It's a simple way of living and you can only be assigned to less than twenty dollars a day. A daily breakfast of vermicelli, an egg and a cup of milk.
When you are young, the body will not have too many problems for a few years with this way of living, he says.
This will make you well off. Your phone bills can be budgeted at RMB 100. You can buy your friends 2 lunches a month, each at $150.
Who should you buy lunch for? Always remember to buy lunch for people who are more knowledgeable than you, richer than you or people who have helped you in your career. Make sure you do that every month.
After one year, your circle of friends should have generated tremendous value for you. Your reputation, influence, added value will be clearly recognised. You'll also enhance your image of being good and generous.
Monthly spend about RMB 50 to RMB 100 to buy books. Because you don't have a lot of money, you should pay attention to learning. When you buy the books, read them carefully and learn the lessons and strategies that is being taught in the book. Each book, after reading them, put them into your own language to tell the stories.Sharing with others can improve your credibility and enhance the affinity.
Also save up $200 per month to attend a training course. When you have higher income or additional savings, try to participate in more advanced training. When you participate in good training, not only do you learn good knowledge, you also get to meet like-minded friends who are not easy to come by.
Reward yourself by traveling at least once a year. Continue to grow from the experience of life. Stay in youth hostels to save cost.
In a few years you would have travelled to many countries and have different experiences. Use that experience to recharge yourself so that you'll continually have passion in your work.
Save the $500 in your bank and grow it as your initial startup capital. The capital can then be used to do a small business. Small business is safe. Go to wholesalers and look for products to sell. Even if you lose money, you will not lose too much money.
However, when you start earning money, it will boost your confidence and courage and have a whole new learning experience of running a small business.
Earn more and you can then begin to buy long-term investment plans and get long-term security on your financial wealth being of yourself and your families. So that no matter what happens, there will be adequate funds and the quality of life will not decline.
Well, after struggling for a year and if your second year salary is still RMB 2,000, then that means you have not grown as a person. You should be really ashamed of yourself. Do yourself a favour and go to the supermarket and buy the hardest tofu. Take it and smash it on your head because you deserve that.
Doing sales is challenging, but it is the fastest way for you to acquire the art of selling and this is a very deep skill that you will be able to carry it for the rest of your career.
No matter how much you earn, always remember to divide it into five parts proportionately. Always make yourself useful. Increase your investment in networking. When you increase your social investment, expand your network of contacts, your income also grows proportionately.
Increase your investment in learning, strengthen your self confidence, increase investment in holidays, expand your horizons and increase investment in the future, and that will ultimately increase your income.
Soon, you will be able to gradually realise your various dreams, the need to buy your own house, car, and to prepare an adequate education fund for your child's future.
Life can be designed. Career can be planned. Happiness can be prepared. You should start planning now. When you are poor, spend less time at home and more time outside. When you are rich, stay at home more and less outside. This is the art of living.
There is nothing wrong with being young. You do not need to be afraid of being poor. You need to know how to invest in yourself and increase your wisdom and stature. You need to know what is important in life and what is worth investing in.
You also need to know what you should avoid and not spend your money on. This is the essence of discipline. Try to avoid spending money on clothing, but buy a selective number of items that have class.
Once your livelihood is no longer an issue, use the remainder of your money to pursue your dreams. Spread your wings and dare to dream! Make sure you live an extraordinary life!
Everybody makes mistakes. It's what you learn from the mistakes, and promising yourself not to repeat those mistakes that matters. When you miss opportunities, don't dwell on it, as there are always new opportunities on the horizon.
.
.

Lee suggests that wage-earners put their monthly salary proportionately into five sets of funds with different purposes. After setting aside for daily necessities and social activities, one should spend on books for learning, travel and invest with the rest of the money, he says.

The Hong Kong business magnate, who was also a school dropout, also gives tips on how to spend the money in each of the funds set aside. For example, one should treat only those who are richer than them or more knowledgeable than them to meals. This way, your social circle will expand, making room for yourself to grow.

At the end of one year, a person's wealth should grow. If your income does not increase, then you have been doing it wrong and are failing to learn anything, Lee adds.

The trick to earning more is to learn more and investing in people and things that are worth your time, he says in the article. "When you are poor, spend money on others. When you're rich, spend money on yourself," he added.


Here is a translation of the article 'Li Ka-shing teaches you how to buy a car and house within five years':

Suppose your monthly income is only RMB 2,000 (S$415.60), you can live well. I can help you put money into five sets of funds. The first with RMB 600, second RMB 400, third RMB 300, fourth RMB 200, fifth RMB 500.

The first set of funds is used for living expenses. It's a simple way of living and you can only be assigned to less than twenty dollars a day. A daily breakfast of vermicelli, an egg and a cup of milk.

For lunch just have a simple set lunch, a snack and a fruit. For dinner go to your kitchen and cook your own meals that consist of two vegetables dishes and a glass of milk before bedtime. For one month the food cost is probably $500-$600.

When you are young, the body will not have too many problems for a few years with this way of living.

Second set of funds: To make friends, expand your interpersonal circle. This will make you well off. Your phone bills can be budgeted at RMB 100. You can buy your friends 2 lunches a month, each at $150.

Who should you buy lunch for? Always remember to buy lunch for people who are more knowledgeable than you, richer than you or people who have helped you in your career. Make sure you do that every month.

After one year, your circle of friends should have generated tremendous value for you. Your reputation, influence, added value will be clearly recognised. You'll also enhance your image of being good and generous.

Third set of funds: To learn. Monthly spend about RMB 50 to RMB 100 to buy books. Because you don't have a lot of money, you should pay attention to learning. When you buy the books, read them carefully and learn the lessons and strategies that is being taught in the book. Each book, after reading them, put them into your own language to tell the stories.Sharing with others can improve your credibility and enhance the affinity.

Also save up $200 per month to attend a training course. When you have higher income or additional savings, try to participate in more advanced training. When you participate in good training, not only do you learn good knowledge, you also get to meet like-minded friends who are not easy to come by.

Fourth set of funds: Use it for holidays overseas. Reward yourself by traveling at least once a year. Continue to grow from the experience of life. Stay in youth hostels to save cost. In a few years you would have travelled to many countries and have different experiences. Use that experience to recharge yourself so that you'll continually have passion in your work.

Fifth set of funds: Invest. Save the $500 in your bank and grow it as your initial startup capital. The capital can then be used to do a small business. Small business is safe. Go to wholesalers and look for products to sell. Even if you lose money, you will not lose too much money. However, when you start earning money, it will boost your confidence and courage and have a whole new learning experience of running a small business.

Earn more and you can then begin to buy long-term investment plans and get long-term security on your financial wealth being of yourself and your families. So that no matter what happens, there will be adequate funds and the quality of life will not decline.

Well, after struggling for a year and if your second year salary is still RMB 2,000, then that means you have not grown as a person. You should be really ashamed of yourself. Do yourself a favour and go to the supermarket and buy the hardest tofu. Take it and smash it on your head because you deserve that.

If your monthly income is at RMB 3,000, you must still work very hard. You must try to find a part time job. It will be great to find part time sales jobs. Doing sales is challenging, but it is the fastest way for you to acquire the art of selling and this is a very deep skill that you will be able to carry it for the rest of your career.

All successful entrepreneurs are good sales people. They have the ability to sell their dream and visions. You'll also meet many people that will be of value to you in the later part of your career. Once you're in sales, you will also learn what sells and what not. Use the sensitivity of detecting market sentiments as a platform for running your business and in the identification of product winners in the future.

Try to buy minimal clothes and shoes. You can buy them all you want when you're rich. Save your money and buy some gift for your loved ones and tell them your plans and your financial goals. Tell them why you are so thrifty. Tell them your efforts, direction and your dreams.

Businessmen everywhere need help. Offer yourself to do part time for any kind of opportunities. This will help to hone your will and improve your skills. You will start to develop eloquence and soon, you'll be closer to your financial goals. By the second year, your income should be increased to at least RMB 5,000. Minimum it should be RMB 3,000, otherwise you would not be able to keep up with inflation.

No matter how much you earn, always remember to divide it into five parts proportionately. Always make yourself useful. Increase your investment in networking. When you increase your social investment, expand your network of contacts, your income also grows proportionately.

Increase your investment in learning, strengthen your self confidence, increase investment in holidays, expand your horizons and increase investment in the future, and that will ultimately increase your income.

Maintain this balance and gradually you will begin to have a lot of surplus. This is a virtuous circle of life plans. Your body will start to get better and better as you get more nutrition and care. Friends will be aplenty and you will start to make more valuable connections at the same time.

You will then have the conditions to participate in very high-end training and eventually you'll be exposed to bigger projects, bigger opportunities. Soon, you will be able to gradually realise your various dreams, the need to buy your own house, car, and to prepare an adequate education fund for your child's future.

Life can be designed. Career can be planned. Happiness can be prepared. You should start planning now. When you are poor, spend less time at home and more time outside. When you are rich, stay at home more and less outside. This is the art of living. When you are poor, spend money on others. When you're rich, spend money on yourself. Many people are doing the opposite.

When you are poor, be good to others. Don't be calculative. When you are rich, you must learn to let others be good to you. You have to learn to be good to yourself better. When you are poor, you have to throw yourself out in the open and let people make good use of you. When you are rich, you have to conserve yourself well and don't let people easily make use of you. These are the intricate ways of life that many people don't understand.

When you are poor, spend money so that people can see it. When you are rich, do not show off. Just silently spend the money on yourself. When you are poor, you must be generous. When you are rich, you must not be seen as a spendthrift. Your life would have come full circle and reach its basics. There will be tranquillity at this stage.

There is nothing wrong with being young. You do not need to be afraid of being poor. You need to know how to invest in yourself and increase your wisdom and stature. You need to know what is important in life and what is worth investing in.

You also need to know what you should avoid and not spend your money on. This is the essence of discipline. Try to avoid spending money on clothing, but buy a selective number of items that have class. Try to eat less outside. If you were to eat outside, do make sure you buy lunches or dinners and foot the bill. When buying people dinner, make sure you buy dinners for people who have bigger dreams than you, and work harder than you.

Once your livelihood is no longer an issue, use the remainder of your money to pursue your dreams. Spread your wings and dare to dream! Make sure you live an extraordinary life!

Famous theory from Harvard: The difference of a person's fate is decided from what a person spends in his free time between 20:00 to 22:00 . Use these two hours to learn, think and participate in meaningful lectures or discussion. If you persist for several years, success will come knocking on your doors.

No matter how much you earn, remember to split your salary into five parts. Take care of your body so that it will still be in good shape. Invest in your social circle so that you will constantly meet new people where you can learn new knowledge from. Expanding your network will also have an important impact in how much you earn eventually. Travel every year and expand your horizons.

Also keep abreast with the latest developments in the industry. If you follow this plan diligently, you will soon see big surplus in your funds.

Whatever happened in the past is over. Do not dwell on past mistakes. There's no point crying over spilt milk. Everybody makes mistakes. It's what you learn from the mistakes, and promising yourself not to repeat those mistakes that matters. When you miss opportunities, don't dwell on it, as there are always new opportunities on the horizon.

Being able to smile when being slightly misunderstood is good upbringing. When you're wronged and you smile with calmness, it is generosity. When you're being taken advantage of and you can smile, you're being open-minded. When you are helpless and you can do a philosophical smile, you're in a calm state. When you're in distress and you can laugh out loud, you're being generous. When you're looked down and you can calmly smile, you're being confident. When you're being jilted in relationships and you can smile it off, you're being suave.

There are many people who are struggling to make ends meet. It doesn't matter if you are rich or poor. There are lessons for all to learn from Li Ka Shing.

so nice to be a pioneer gen in sg ah must be born in 1948 & earlier..too bad i'm not one of them..

can anyone enlighten - in view of the chas, subsidy, annual top up available with the medisave and medishield, does it still make sense to opt for private scheme?




Friday, Feb 21, 2014
Jamie Lee
The Business Times
SINGAPORE plans to give the pioneer generation of Singapore a further 50 per cent off their subsidised bills at specialist outpatient clinics (SOCs), said Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance on Friday.

Details from the Ministry of Finance, as posted on their Twitter feed:

The Pioneer Generation Package provides special support for elderly Singaporeans.

The Pioneer Generation (PG), about 450,000 Singaporeans, are those who were at least 16 years old in 1965 and citizens by 1987.

The Pioneer Generation is not differentiated by income as the objective is to honour the contributions of this whole generation. They are to get extra outpatient subsidies in three areas.

First, the Pioneer Gen will get an additional 50 per cent off their net subsidised bills at SOC and polyclinics.

Second, all Pioneer Gen will be on CHAS; existing members enjoy additional subsidies.

Third, Pioneer Gen with moderate to severe disabilities will receive $1,200 a year.

Pioneer Gen will receive Medisave top-ups of $200 - $800 a year.

Pioneer Gen will also be covered and receive enhanced coverage under Medishield Life.

The Pioneer Gen will get 40-60 per cent subsidy for Medishield Life premiums.

In summary, all Pioneer Gen will receive special benefits regardless of income, for the rest of their lives.

Here is a statement posted on Ministry of Finance's Facebook page:

There will be three key components to the Pioneer Generation Package - Outpatient care, Medisave Top-ups and MediShield Life subsidies.

These special benefits that we are providing the Pioneer Generation will not be differentiated by income because our objective is to honour the contributions of this whole generation. However, members of the Pioneer Generation who are less well-off will benefit more where there are higher underlying subsidies for all lower-income Singaporeans - such as at the SOCs.

First, we are increasing SOC subsidies for the lower- and middle-income. We will give the Pioneer Generation a further 50 per cent off their subsidised bills at SOCs. What this amounts to is that all Pioneer Generation members will get a 75 per cent to 85 per cent subsidy for treatment at SOCs. Similarly, the Pioneer Generation will receive an additional 50 per cent off their subsidised bills at polyclinics.

Second, Community Health Assist Scheme (CHAS) benefits, which are important because private GPs play an integral role in our primary care system. CHAS is currently targeted at lower- and middle-income Singaporeans. Under this package, all Pioneer Generation members will get more: a. Those who are not on CHAS will now qualify; b. Those already on CHAS will enjoy additional subsidies, which will be similar to our enhancements for the Pioneer Generation at SOCs and polyclinics.

Third, Pioneer Generation Disability Assistance. Those who have moderate to severe functional disabilities often face much higher long-term care expenses because they require assistance to feed themselves, bathe or move around. Under the Pioneer Generation Package, they or their nominated caregivers will receive cash assistance of $1,200 a year.

Under MediShield Life, all Pioneer Generation, including those with pre-existing conditions, will be covered and receive enhanced coverage for expensive large hospital bills. We will also provide the Pioneer Generation a special subsidy to ensure that MediShield Life premiums are highly affordable for them.

The Package also comprises annual Medisave top-ups of $200 to $800 for the Pioneer Generation. These are on top of the regular GST Voucher - Medisave payouts for older Singaporeans. Older Pioneer Generation cohorts will enjoy larger top-ups. The Medisave top-ups will be paid out from August this year. The Pioneer Generation can also look forward to the more flexible Medisave for all older Singaporeans.

Here are the excerpts from the Budget Speech by Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam in Parliament today.

Honouring our Pioneer Generation

Taken together, the review of MediShield Life - including the subsidies we will provide for Singaporeans - as well as our enhanced SOC subsidies, are significant improvements in healthcare accessibility and affordability. These are changes that we will sustain for the long term for all Singaporeans.

Let me move on now to the Pioneer Generation Package which provides a special package of support on top of these enhancements.

Criteria for the Pioneer Generation

As the Prime Minister has announced, the Pioneer Generation Package will be for the first generation of Singaporeans who were living and working in Singapore after we became independent.

The Pioneer Generation Package will thus be for those who were at least 16 years old in 1965. Within these age cohorts, we have - for practical reasons - included those who became citizens before 1987.

This is because our manual records before that are incomplete with regard to the dates they became citizens. However, we know that more than 90 per cent of those who became citizens by 1987 were already living in Singapore before 1970.

In total, about 450,000 Singaporeans fulfil the criteria. There may be people who marginally miss out on the precise criteria, but have good claims to be counted among the Pioneer Generation. We will hence establish a panel to assess appeals on a case-by-case basis.

Pioneer Generation Package Benefits

There will be three key components to the Pioneer Generation Package - Outpatient care, Medisave Top-ups and MediShield Life subsidies.

These special benefits that we are providing the Pioneer Generation will not be differentiated by income because our objective is to honour the contributions of this whole generation. However, members of the Pioneer Generation who are less well-off will benefit more where there are higher underlying subsidies for all lower-income Singaporeans such as at the SOCs, as I have just announced.

(I) Outpatient Care

Many of the Pioneer Generation require outpatient treatment, either for common illnesses or for chronic conditions, such as diabetes and high blood pressure. We will pr ovide them with additional subsidies in three areas:

First, SOCs and polyclinics. As I have just explained, we are increasing SOC subsidies for the lower and middle-income. We will give the Pioneer Generation a further 50 per cent off their subsidised bills at SOCs. What this amounts to is that all Pioneer Generation members will get a 75 per cent to 85 per cent subsidy for treatment at SOCs.

Similarly, the Pioneer Generation will receive an additional 50 per cent off their subsidised bills at polyclinics.

Second, Community Health Assist Scheme (CHAS) benefits, which are important because private GPs play an integral role in our primary care system. CHAS is currently targeted at lower and middle-income Singaporeans. Under this package, all Pioneer Generation members will get more:

a. Those who are not on CHAS will now qualify;

b. Those already on CHAS will enjoy additional subsidies, which will be similar to our enhancements for the Pioneer Generation at SOCs and polyclinics.

Third, Pioneer Generation Disability Assistance. Those who have moderate to severe functional disabilities often face much higher long-term care expenses because they require assistance to feed themselves, bathe or move around. Under the Pioneer Generation Package, they or their nominated caregivers will receive cash assistance of $1,200 a year.

The subsidies for SOC and polyclinic services, as well as disability assistance, will be implemented in September 2014. The additional CHAS benefits will be implemented in January 2015. The Minister for Health will provide m ore details at the COS.

(II) Medisave Top-ups

The second component of the Pioneer Generation Package comprises annual Medisave top-ups of $200 to $800 for the Pioneer Generation. These are on top of the regular GST Voucher-Medisave payouts for older Singaporeans. Older Pioneer Generation cohorts will enjoy larger top-ups. The Medisave top-ups will be paid out from August this year. The Pioneer Generation can also look forward to the more flexible Medisave for all older Singaporeans, that I spoke about earlier.

(III) MediShield Life Subsidy

Many of the Pioneer Generation, especially the older ones, are currently not covered by MediShield.

MediShield Life will cover all Pioneer Generation members, including those with pre-existing conditions. They will receive enhanced coverage for large hospital bills. We will also provide the Pioneer Generation a special subsidy to ensure that MediShield Life premiums are highly affordable for them.

The special subsidy will increase with age. All Pioneer Generation members will enjoy subsidies starting from 40 per cent of the MediShield Life premium at age 65, rising to 60 per cent of the premium at age 90. This means that a 65-year-old today, who is expected to live to 85, will get a 50 per cent average subsidy over his lifetime.

The MediShield Life Review Committee is currently reviewing the benefits and premiums, which will be ready later this year. However, the Government‟s intent is clear:

a. For Pioneer Generation members aged 80 and above in 2014, we intend to fully cover their premiums through a combination of premium subsidies and Medisave top-ups

i. This will be the case even for those who are currently not covered under MediShield, and who will now enjoy the benefits of MediShield Life.

b. For those who are younger, for example,aged 70 in 2014,

i. If they are on MediShield today, with the new premium subsidies and Medisave top-ups, we aim for them to pay only about half of their current premiums.

ii. If they are not on MediShield today, they will be brought onto MediShield Life. They should still pay less than current premiums.

The MediShield Life subsidies will be implemented in end-2015, when MediShield Life is rolled out.

Summary of Pioneer Generation Benefits

Let me summarise. All members of the Pioneer Generation will receive the special benefits of the Package regardless of income. They will also get it for the rest of their lives.

First, for outpatient treatment. They will get a further 50 per cent discount on their subsidised bills in SOCs and Polyclinics.

They will also receive CHAS benefits. These will be on top of the underlying subsidies. And for those with moderate to severe disabilities, they will get cash assistance of $1,200 per year under the Pioneer Generation Disability Assistance Scheme.

Second, Medisave top -ups. The Pioneer Generation will receive $200 to $800 every year, with the older cohorts receiving more. This is on top of the annual Medisave top-ups ain the GST Voucher. They will also be a ble to use their Medisave more flexibly for a range of outpatient treatments.

Third, MediShield Life will be affordable For those 80 and above in 2014, we intend to fully cover their MediShield Life premiums through a combination of MediS hield Life subsidies and Medisave top-ups. For those who are younger, around 70 in 2014, we aim for them to pay only about half of their current premiums, with the rest covered through premium subsidies and Medisave top-ups, if they are on MediShield today.


FY2014 Budget Position

Madam Speaker, before I go on to summarise the FY2014 budget position, let me set out how we will fund the Pioneer Generation package.

We estimate that the cost of providing the extra benefits to the Pioneer Generation over their lifetimes will be slightly over $9 billion in nominal terms.

It is right and prudent to set aside monies today to pay for the Pioneer Generation Package, while we have sufficient resources to do so.

We will therefore set aside monies in Budget 2014 that will enable us to meet th e full projected cost of the package. We will create a Pioneer Generation Fund for the purpose and set aside $8 billion into the Fund. The $8 billion, with accumulated interest over time, will be enough to pay for the full projected cost of the package, in cluding a buffer for inflation.

Of the $8 billion in the Fund, we expect that about half will be drawn down in the first ten years, due to the age profile of the Pioneer Generation and the higher benefits for older members.

With this Fund, we assure the Pioneer Generation that Singapore will honour our commitment to them, regardless of future economic circumstances.

The Fund also ensures that Budgets in subsequent years can focus on the needs and challenges of the future, for all Singaporeans. Our spending needs will grow significantly in the next 10 to 15 years. Investments in infrastructure, such as HDB estate renewal, MRT expansion, and Changi Airport Terminal 5 will accelerate . Government h ealthcare spending for the population as a whole will grow, quite apart from the extra benefits we are providing the Pioneer Generation. We are also spend ing more on education. On pre-schools, in the next 5 years, we are spending an additional $1.5 billion. We are expanding university education and enhancing the p olytechnic and ITE pathways. We will also do much more in continuing education for workers.

The $8 billion Pioneer Generation Fund is not intended to cover the underlying healthcare subsidies that the Pioneer Generation receives together with all Singapor eans. These will continue to be funded from future annual budgets. For example, the enhanced SOC subsidies in this year‟s Budget are part of our future budgetary spending and we have planned for them on that basis.

After including the Pioneer Generation F und and various measures in this year‟s Budget, and factoring in the Net Investment Returns Contribution, the Overall Budget Balance is a deficit of $1.2 billion, or about 0.3 per cent of GDP. This is close to a balanced budget, and will not result in a draw on pa st reserves as we have sufficient surpluses from the last few years.

http://www.medicalnewstoday.com/releases/272676.php

Stock market volatility and mental disorders linked

Monday 17 February 2014 - 1am PST

Falling stock prices lead to increased hospitalisations for mental disorders, according to new research published in the journal Health Policy and Planning.

Researchers assessed the relationship between stock price movements and mental disorders using data on daily hospitalisations for mental disorders in Taiwan over 4,000 days between 1998 and 2009. They found that a 1000-point fall in the Taiwan Stock Exchange Capitalisation Weighted Stock Index (TAIEX) coincided with a 4.71% daily increase in hospitalisations for mental disorders.

A downward daily change in stock price index coincided with significantly increased hospitalisations for mental disorders - when the stock price index decreased by 1% in a single day there was a 0.36% increase in hospitalisations for mental disorders on that same day. The researchers also found that falls in stock price index on consecutive days were associated with a 0.32% daily increase in mental disorders hospitalisations - when the stock price index falls consecutively for 5 days there was a 1.6% increase in the number of mental disorder hospitalisations on the fifth day.

These effects were found to be significant for both genders, with daily and consecutive changes in stock price index having a greater impact on men's mental health. Low stock price index and daily change in stock price index had a significant effect on hospitalisations for the 35-54 age groups while consecutive change affected the 45-54 age groups.

The research, led by Dr Chung-Liang Lin at Dong Hwa University and Dr Chin-Shyan Chen and Dr Tsai-Ching Liu at Taipei University, is the first of its kind to investigate a potential relationship between stock market volatility and nationwide prevalence of mental disorders. The results suggest that the mental health of middle-aged males may be critically influenced by the stock market - when the stock price index is low, hospitalisations for mental illness are relatively high.

Previous research has suggested that mental disorders are more likely to affect disadvantaged members of society, with financial hardship having a negative impact on psychological health. The global financial crisis led to a decline in wealth for many and subsequent research has looked at the links between national economic conditions and the general health of the public. Data have also shown that economic recession has an exacerbating effect on the use of mental health services and decline in reported happiness. Most research on economic recession looks at involuntary job loss; few studies have looked at the effects of a fluctuating stock market on population health outcomes.

The researchers used stock market movements as a proxy for changes in economic conditions and assessed the relationship with mental disorders using data from the National Health Insurance Research Dataset published by the National Health Research Institute of Taiwan. Dr Lin, Assistant Professor of Economics, said: "The stock market became the most watched indicator for much of the economic recession. Drops in the value of stocks can, and often do, announce a reduction in wealth and the multiplication of business failures with consequential pay cuts or layoffs. Indeed, it is reasonable enough for people to have dire fears about the future, and those fears are heavily reinforced by media coverage. A falling stock market, therefore, influences investors' and the public's emotional, psychological and economic problems that could adversely affect mental health. Our results suggest that, if someone is undergoing stressful and depressed conditions or has a mental illness, they should be encouraged to pay less attention to daily stock market movements, particularly middle-aged people who are suffering various pressures coming from job security, family and investments."

The study has several limitations including, the diagnoses of mental disorders rely on claims data reported by physicians or hospitals, which may be less accurate than diagnoses carried out individually. Also, the authors were unable to analyse the impacts of socio-economic and behavioural factors (such as education, employment, smoking) on mental disorder hospitalisations.

very sad to hear that.

Saturday, February 15, 2014 - 19:52

SINGAPORE - It has been a year since Ng Boon Gay, 47, was acquitted of corruption charges, but the former Central Narcotics Bureau (CNB) chief is still saddened by the fact that his father never got to know the outcome of his case.

The elder Ng had passed away from a heart attack before he was cleared of the charges.

In an interview with Lianhe Zaobao, Ng Boon Gay said that he experienced a terrible Chinese New Year in 2012, when he was accused of corruption in a sex-for-contracts case.

Just one month later, his father suffered a heart attack and passed away. His mother died from cancer in 2009.

He told the Chinese daily that he was very close to his parents and that his mother was very loving. When he went overseas for National Service training, she was so worried that she could not sleep for three weeks.

Stricken by the sudden loss of his mother, Ng said the loss of his dad less than three years later was a big blow to him.

Although his father did not say much about the case, Ng felt that his father was worried for him and believed that he was innocent.

"It is a pity he does not know I am now okay," Ng was quoted saying in the papers.

When asked about children, Ng told Lianhe Zaobao that he loved children but had long decided not to have any.

Ng Boon Gay regrets late father never witnessed his acquittal

He said that he and his wife, Yap Yen Yen, had decided that he had to focus on his career, as well as looking after his parents, instead.

Ng said that he had wanted to spend his time and efforts on ensuring his parents lived comfortably in their golden years, adding that he did not mind moving into a retirement home in the future.

Ng could not hold his tears back as he recalled memories of his parents.

Growing up in a poor family, Ng Boon Gay said he depended on study grants and bursaries from various institutions to fund his education.

Ng is the fourth child out of five in the family, and the only one who has graduated from university.

Growing up, he lived in a rented home from which his parents ran two food stalls.

As he had to help them out, he could only start studying at midnight every night.

Ng told Lianhe Zaobao that they were so poor that their electricity supply was cut off, and he had to light a candle so he could study.

ljessica@sph.com.sg

http://www.bloomberg.com/news/print/2014...-wife.html

HSBC Sued by Singapore Billionaire Lim’s Ex-Wife
By Andrea Tan - Feb 10, 2014
HSBC Holdings Plc was sued by Singaporean billionaire Peter Lim’s ex-wife, who claimed she suffered losses because of the bank’s negligence.

Teo Geok Fong, who started investing with private banks after her divorce settlement in 2002, claims she was misled into believing certain products were suitable for her risk profile, according to her lawsuit filed against HSBC’s Singapore unit. The London-based bank has denied wrongdoing.

HSBC “was always eager, motivated by their own commercial interests and/or financial benefits” to persuade her to buy products including accumulators, decumulators and equity-linked notes, according to Teo’s complaint filed in the Singapore High Court. The homemaker with high-school education trusted her banker’s advice, she said in the complaint.

“Our client is pursuing this action rigorously in the courts and expects a favorable outcome,” Teo’s lawyer Eugene Thuraisingam said in an e-mail today.

HSBC, Europe’s largest bank, asked the court to dismiss Teo’s lawsuit, according to its defense filed last month. Gareth Hewett, a Hong Kong-based spokesman at HSBC, declined to comment on the lawsuit.

Teo presented herself as a sophisticated and experienced investor and stated she had at least five other private bank accounts, according to HSBC’s filing. As her portfolio grew, so did her risk appetite and she alone was responsible for her investments, HSBC said.

‘Remisier King’

Teo received as much as S$50 million ($39 million) from her divorce settlement with Lim, who’s also known as “Remisier King,” HSBC said in court papers. In 2006, Teo told her other bankers to deliver S$500,000 profits a year on her individual accounts, according to court papers.

Lim offered to buy Valencia soccer club, a two-time Champions League finalist, last year. In 2010, he offered 320 million pounds ($525 million) to buy Premier League team Liverpool, which was eventually acquired by the Boston Red Sox’s owner-group.

Lim, a former stockbroker, became a billionaire through holdings in palm oil producers and a chain of Manchester United cafes in Asia.

The case is Teo Geok Fong v The Hongkong and Shanghai Banking Corp., Singapore Branch. S1105/2013. Singapore High Court.

To contact the reporter on this story: Andrea Tan in Singapore at atan17@bloomberg.net

To contact the editor responsible for this story: Douglas Wong at dwong19@bloomberg.net

source in Malaysia shared that it may reach as low as 1sgd :3rm. sgd huat ah

Yasmine YahyaThe Straits TimesSunday, Feb 09, 2014The Malaysian ringgit has hit a fresh record low against the Singapore dollar as several regional currencies continue to stay weak. Just three days after softening to an all-time low of RM2.622 against the Singdollar last Thursday, the ringgit fell further to RM2.624 at the start of this week. It was hovering around RM2.6207 yesterday. The ringgit's persistent weakness is not so much due to the Singdollar gaining strength, but rather a massive outflow of capital from emerging markets back to developed markets, experts say. Fundsupermart general manager Wong Sui Jau said: "Overall, in terms of fiscal and financial strength, (Singapore) is perceived to be stronger, so our currency has held up better and it looks as if the ringgit has been weakening against the Singdollar." Oanda currency analyst Wu Mingze agreed, saying: "In terms of fundamentals, Malaysia is not looking great, but it's not that bad either compared to Thailand, the Philippines, or Vietnam." Despite coming close to a current account deficit in the middle of last year, Malaysia's trade surplus has been improving, which will help to keep its current account in the black, he said. The outflow of capital has hit emerging market currencies, with the Thai baht and Indonesian rupiah among those particularly hard-hit. One Singdollar was trading at 26.86 Thai baht yesterday evening. It was also equal to 9,611 Indonesian rupiah. It is hard to say how long the volatility will last or how low the currencies could go, they added. However, judging by past market swings, Mr Wu said it is likely that Malaysia's central bank will intervene if the ringgit depreciates to as low as RM3.80 against the US dollar. Today, one US dollar buys about RM3.33. In the meantime, Asian currencies will have to ride out the volatility until confidence returns, said Mr Wong. "When we will hit bottom, it's hard to say. But confidence will return and the rebound could be quite fast." Companies say the weak ringgit has not affected business much. Mr Mike Lim, executive director of bottling firm Dr Who, which imports some material from across the Causeway, said the weaker ringgit was a cushion against general rising costs in Malaysia. "But we don't expect it to stay weak very long," he said. - See more at: http://business.asiaone.com/news/ringgit...wGUMC.dpuf

despite 'so much' decentralisation efforts' by the govt, nothing beats downtown central location. this might be a set back to the property prices around change. good luck to those staying or just bought castles around there

Yasmine YahyaThe Straits TimesSunday, Feb 09, 2014British bank Barclays is emptying its offices at Changi Business Park and moving all its staff to its Marina Bay Financial Centre (MBFC) premises to cut costs. According to a Bloomberg report citing two people with direct knowledge of the move, about 200 staff will be relocated. "After an extensive review of our Singapore corporate real estate footprint, Barclays has decided to exit the Eightrium at Changi Business Park," Barclays said in an e-mail statement yesterday. It did not say, however, when the move will take effect. The move will consolidate many technology teams in one location at MBFC, where Barclays has premises at Tower 2, "creating a greater community and driving a culture of collaboration, mobility and flexibility", it said. "Consolidating our corporate real estate footprint will help us run our businesses with greater efficiency and cost discipline." After chief executive Antony Jenkins took over at Britain's second-largest bank in August 2012, he launched a review of its global operations. This resulted in a plan to cut £1.7 billion (S$3.5 billion) from its annual expenses by 2015, which included axing about 3,700 jobs worldwide. Bloomberg has also reported that the bank is cutting commodities jobs in London and New York, and eight managing directors from Asia are departing. Barclays has about 3,500 staff in Singapore. In January last year, it was reported that the bank had let go 70 bankers here and across Asia. After the move out of Changi, Barclays will have three offices in Singapore. Two, at One Raffles Quay and MBFC, are in the central business district, and the third is in Tampines. The bank occupies about 290,000 sq ft at MBFC, and 96,000 sq ft at One Raffles Quay. - See more at: http://business.asiaone.com/news/barclay...Rz8jx.dpuf