TR EMERITUS

OPINION The ballooning of the Youth Olympic Games' budget to $389 million dollars has shocked many Singaporeans, who are left wondering how the discrepancy might have occurred. Officials from the International Olympic Committee (IOC) who chose Singapore over Moscow to host the inaugural YOG might also be perturbed at the stunning figures which has far exceeded nearly three times its initial budget. It was a close call between Singapore and Moscow. While the latter boasted better infrastructure and sports facilities, it appeared that it was the budget which tipped the scale in Singapore's favor. Moscow lost out to Singapore in the important category of "finance and marketing": [Source: Straits Times] Singapore's initial budget was only S$109 million dollars compared to Moscow's S$251 million dollars. However, Singapore has now spent nearly S$400 million dollars or 1.5 times that of Moscow's initial budget. Had the IOC known that Singapore will be spending so much money in the end on the YOG, would it still award the right to host the event to Singapore? PAP Minister Dr Vivian Balakrishnan must explain why the budget was exceeded by so much and if the initial budget was deliberately depressed to mislead IOC officials, giving Singapore an unfair advantage over Moscow. After all, it is taxpayers' monies the PAP is spending on the YOG and every single cent must be accounted for. Singaporeans have the right to know if they are getting value for money by hosting the event. Despite the massive publicity blitz heaped on the YOG by the mainstream media, the response from Singaporeans has been lukewarm so far. The Ministry of Education bought 80,000 of the 100,000 YOG tickets on sale using taxpayers' monies, a sign that few Singaporeans are interested enough to watch the event in action. In an online poll done on Channel News Asia, 88 percent of the respondents or 5,639 Singaporeans said they are "not interested" in the YOG at all 208 people have not heard about the event. The IOC should set up an independent international commission to investigate the PAP regime for possible lapses in its budgeting for the Youth Olympic Games to protect its integrity and credibility. Dr Vivian should also be taken to task in Parliament for the astronomical amount of money spent to host the YOG at the expense of other major projects such as the Singapore Sports Hub which is still in limbo till now. The PAP regime has always boasted about being a "responsible, accountable and transparent" government to the world. It is time it puts its words into action and practices what it preaches.     Related articles: >> Dr Vivian: Sports is not about "petty politics" >> More than 300 Singaporeans joined “I hate YOG” Facebook >> CNA poll: 90 percent of Singaporeans “not interested” in YOG >> Slovak YOG Ambassador slams YOG venues of “school standard” only >> Two Facebook groups calling for boycott of YOG >> Free condoms for YOG officials and athletes >> Singapore helping to repair Jamaica’s stadium in return for YOG marketing >> Former stripper to choreograph opening ceremony of YOG >> Desperate PAP wants Singaporeans to get “passionate” about YOG >> PAP to Singaporeans: Give way to YOG vehicles or get fined $130 >> PM Lee wants Singaporeans to do their part for YOG >> Only six teams in YOG soccer tournament Please join our Facebook page here and invite your friends to do so to create awareness of the current affairs affecting Singaporeans. Please use our online web form to contact us.  Read More →

I REFER to Minister Mentor Lee Kuan Yew's comments in "I don't think there should be a retirement age: MM" (July 29). Japanese Nobel Laureate Dr Leo Esaki once spoke on the relationship between longevity and retirement age. He revealed that the pension funds in many large companies such as AT&T, Boeing, Lockheed, Lucent, and so on, are overfunded as many who retire at the age of 65, usually die within two years of retirement. Separately, Dr Ephrem Cheng of the University of Alberta did an actuarial study of lifespan versus age at retirement, based on the number of pension cheques sent to Boeing Aerospace retirees. It found that staff who retire at the age of 50 had an average lifespan of 86. Those who retire at the age of 65 live to an average age of just 66.8. This study concludes that for every year a person works beyond the age of 55, he lives an average of two years less. In other words, Boeing employees who retire at the age of 65 receive pension cheques for only 18 months, on average, before dying. Lockheed, similarly, found that employees retiring at the age of 65 take only an average of 17 months of pension prior to death. People who retire at the age of 65 or older probably put too much stress on their ageing bodies and minds, such that they develop serious health problems that ultimately force them to retire. With such long-term stress-related problems, they die within two years after they retire. On the flipside, people who retire early might either be richer or better able to plan and manage the various aspects of their life, health and career well, such that they can afford to retire early and comfortably. Many of these early retirees still continue doing some work, but on a part-time or project basis, at a more leisurely pace, without the stress of the daily grind. Most Japanese workers retire at the age of 60 or under. One wonders if this is a factor contributing to the long average lifespan the Japanese enjoy. The lesson here: As you get older, you should consider planning your career path and financial matters so that you can retire comfortably at an early age, and enjoy a long and happy life in retirement. On the other hand, if we are encouraged to stay in the pressure-cooker corporate world until the age of 65 or older, it could impact our health and lifespan. I hope Singaporeans will factor in how stressful their jobs are at work when contemplating at what age to retire. There are hidden costs to not having a retirement age that may not be obvious until it is too late. Tan Kok Tim  Read More →

The Singapore Police Force has been rapped for financial lapses in the latest report by the Auditor's General's Office (AGO) for the financial year ended March this year. According to a Straits Times report, the police has been slow to seek payment from prosecuting agencies for each warrant of arrest amounting to losses in revenue amount to some $648,000 between 1997 and last year. The police is required under the law to impose a fee of $25 for each warrant of arrest enforced by prosecuting agencies such as town councils and statutory boards for offences such as littering. There were also lapses in maintenance contracts worth $2.6 million dollars for surveillance camera systems of which the police did not bother to impose liquidated damages on two contractors who failed to deliver the services provided. The names of the contractors were not revealed. There were no immediate comments from the Singapore police force which has come under intense public scrutiny lately. Unlike other developed countries, Singapore has no independent Public Complaints bureau to check on the police which wields tremendous power over the citizenry.     Please join our Facebook page here and invite your friends to do so to create awareness of the current affairs affecting Singaporeans. Please use our online web form to contact us.  Read More →