TR EMERITUS

Confiding that you intend to get a loan for your business with friends and family may be met with different opinions. From cautionary anecdotes to general discouraging speech, typically, most of the people you tell will give you their take on what could possibly go awry or happen if you decide to pursue the loan. Although not all reasons are indeed good ones to get yourself into debt, it does not mean there are no reasonable grounds for taking out a loan for your business. If the company is ready to evolve, yet you do not have working capital to aid this, a loan might be the solution. Here are some reasons why you should consider applying for a loan. 1. Building credit for the future If you intend to apply for a large-scale loan in the near future, you might need to start taking up short-term loans to build your credit. The business may face difficulty securing a large loan from a financial institution if neither you nor your company has strong credit history to fall back on. That is especially the case if it’s a start-up. Taking out a loan and regularly paying on time helps you to build credit. It is also a great approach if you want to develop a good relationship with a particular lender, which gives you a connection that you can lean on when you need a larger loan. However, remember not to take out a loan you cannot repay; delays in payments could ruin your chances of qualifying for a big loan in the future. Also, don’t use business loans for personal use. For instance, if you want to enjoy a few games on an online casino on your day off, take advantage of offerings like the RedStag casino bonus to extend your play instead of tapping into funds meant for the business. 2. You want to expand your physical location Your space could be so cramped that some of your employees have to set up their working stations in other accessible areas outside the main office. It is a good sign that the present office location is too small to accommodate the entire team. Another reason could be that your clientele has grown and cannot fit inside your store. On the brighter side, this is good news as it signifies your business is growing and may be ready for expansion. Sometimes you might not have the funds to expand even when that is long overdue. In such a case, it is sensible to take out a loan to finance this big move. Expect substantial costs, whether the expansion includes moving to a bigger location or adding another office. Before you commit to this project, quantify the change in revenue that may result from the growth. 3. To upgrade or purchase equipment Buying equipment is an excellent reason to seek financing. That might be machinery, tools, or IT equipment to improve production efficiency or service delivery. An advantage of taking out a loan to finance your equipment is that the same equipment can act as collateral for your loan. When securing a loan of this nature, ensure that you separate an actual need from an impulse. Nice-to-haves may not be a good investment for your business since they don’t serve any fundamental purpose.      Read More →

China will invade Taiwan eventually and it will disregard international views. It is not doing it right now because it still lacks the necessary military might to achieve a decisive victory. It has nothing to do with how other countries look upon its military actions. Russia invading Ukraine is fundamentally different from China invading Taiwan and that's how the Chinese view it. Invading Taiwan for "reunification" is seen as reclaiming its sovereignty for China. It is different from Russia invading another sovereign country. As most countries, including US has recognized One China principle, there isn't any political angle to create global backlash over such invasion. Morever, China has skilfully utilized its economic and financial strength to buy support from lots of countries via OBOR strategy. If US and its allies didn't even dare to declare war against Russia openly and embarked on direct confrontation for its blatant invasion of another sovereign country, what makes you think these same fellows will fight an even more difficult sea war against China when it was reclaiming its sovereignty over Taiwan? It is about Nuclear Power. A good expert will notice the difference between 1996 Taiwan Strait crisis vs current crisis. US sent 2 aircraft carriers to sail through Taiwan Strait during the 1996 crisis, effectively stopped China from further provocation. But in current crisis, 7th fleet was stationed a far distance away from Chinese military exercise zones. Furthermore, the apparent reservation of South Korean President shown via his cold treatment towards Nancy's visit is quite alarmingly. Talk is Cheap, Hypocrisy is Cheaper. Actions speak louder.   Goh Meng Seng      Read More →

Since National Day has just passed, I thought it might be worthwhile to talk about the topic of patriotism or the love of one’s nation. If you look at the rise of hard right snake oil salesmen that have been popping up all over the place in the last half decade, you will realise that we are living in a time when the term “patriotism” has been sorely abused. Patriotism or love of the state has always been a virtue for as long as humans have organised themselves into societies. If you look at who becomes a hero, you’ll notice it’s inevitably been people who have sacrificed their individuality and even their lives for the rest of us. We think of the ideal as set out by the late President John F Kennedy who told the young of his era, “Ask not what your country has done for you but what you can do for your country.” While many of us grew up encouraged to have develop “patriotic” ideals, there has been a trend towards abusing ideal of patriotism. This abuse is best summed up by former US President George W Bush when he said, “You are either with us or against us.” This became most pronounced during the Trump Presidency when everyone was either cheering in delusion or foaming in the mouth whenever his name was mentioned. As always, whilst America and the rest of the Western World gets stuck in a debate on personalities, Singapore practices a more subtle but probably more effective form of abusing patriotism. The most visible example is over the debate on the death penalty. The activists make one consistent tactical error, which is to write to the rest of the world about Singapore hanging people. Look at the last incident when Sir Richard Branson got involved in airing his views on the death penalty. It is a tactical error because the government inevitably moves the discussion away from the death penalty and the chap waiting at the gallows to a question of “outsiders versus Singapore,” and suddenly anyone who anti-death penalty gets labelled as “anti-Singaporean.” Hence the guy’s fate is inevitably sealed because, well its no longer about whatever the guy was carrying but Singapore standing up to the rest of the world on a certain political position. As mentioned in my previous posting, patriotism is an emotion and when an emotion is stirred up, logic and rationality go out the window. I think of the 2005 hanging of Van Tuong Nguyen, an Australian citizen who was caught carrying drugs. There was a lot of diplomatic noise and an Australian politician mentioned something about banning SQ from Australian airports. Speaking as someone who sees himself as educated in the West and rational, my instinct was – we should not only hang the guy but ensure that the Australian High Commissioner witnessed the event. The emotion of sticking the middle finger at the “imperialist” bully when we are trying to apply our laws was strong enough to overcome whatever feelings I might have had towards the death penalty. This is not the only example of how the debate has shifted from being about issues to being about “us-versus-them.” It has become all too easy to label anyone who disagrees with you as “unpatriotic.” Patriotism is the blanket used to suppress disagreement. However, as anyone who has had kids will tell you, like and love do not go hand in hand. As I have said to my kid on a few occasions, “I’ll always love you, but I don’t like certain things that you do or believe in.” What is true of parenting is also true of patriotism. I do not necessarily like everything that goes on in Singapore and I write blog about it a lot. However, that does not mean that I do not have love for my country, which for the record is the only country in the world that I have a legal obligation to defend. Singapore is my home, and it is the place where I have been trying to raise a family. There are reasons why I chose to do it here and not elsewhere. However, when it comes to the things that I do not like about the place, I express myself and hope that one day someone with the capabilities of bringing about change will do it and make it a better place. I do not think this feeling is unique to me. There are, as they say distinctions between Singapore the country and the Singapore government. There are distinctions between disagreeing with certain things and wanting to destroy them. We need to remember this when we look at people like opposition politicians and activist of certain causes. Just because we do not agree with them all the time, it does not mean that they are less patriotic than the rest of us. This was a point that was ironically brought home to me by a young man who was active in the PAP grassroots. He was talking about Dr. Chee who has been a proverbial punch bag for the powers that be. His argument was that when you look at Dr. Chee and all that he has endured, it is a miracle that he stays and remains active in the political sphere. This is a man who cold easily have packed his bags and moved elsewhere to make a more comfortable living. He has no reason to stay and like the place. Yet he stays because he must clearly believe he’s got something to contribute. We need to remember this. People who love the country do not have to like everything about it. People who are critical are not necessarily against the system but hoping to make it work for them. Not everyone can be a superscale wage earner but most of us have to live here and make it work for us. If we remember that disagreement is not unpatriotic, we can sit down and discuss the ways to make things better for everyone. However, we can only do that when the people we disagree with feel confident enough that they won’t be labelled “unpatriotic” for holding different views.   Tang Li *Although I’ve been based mainly in Singapore for nearly two decades, I’ve had the privilege of being able meet people who have crossed borders and cultures. I’ve befriended ministers and ambassadors and worked on projects involving a former head of state. Yet, at the same time, I’ve had the privilege of befriending migrant labourers and former convicts. All of them have a story to tell. All of them add to the fabric of life. I hope to express the stories that inspire us to create life as it should be.      Read More →