17 people responded to the survey on the new property portal.
100% said that they are interested in the AMP (adjusted market price) which is calculated based on the latest 10 transactions for the project, adjusted to reflect the the current market price (i.e. taking into account the change in market since the date of transaction). 94% said that this is a useful indication of the market price for the property.
81% are interested in the AQI (amenities quality index) that shows the amenities within 0.5 km (i.e. walking distance) of the property.
100% said that a comparision of the AQI and AMP for similar properties in the same location is useful. 81% said that they are willing to pay $20 for a property report that shows, among others, the details of the recent transactions and the nearby amenities.
I wish to explain that the AMP is an average for the property. It needs to be adjusted to reflect the height, facing and size of a particular property. I hope that buyers and sellers will find this indicator to be useful, with the limitations as disclosed. As this is just an indicator, it should not replace the judgement of a professional valuer in deciding on the value of the property.
http://www.surveymonkey.com/s.aspx?sm=_2blkqCtac6iiy_2bzlKaDEfYw_3d_3d
Tuesday, December 23, 2008
Why MAS should handle complaints
Letter in Straits Times Forum
I REFER to the article last Thursday, 'Lehman-linked investors to get news in Jan', which reported that almost 5,000 formal complaints had been filed and that the Monetary Authority of Singapore (MAS) was satisfied that all 10 institutions involved were reviewing complaints based on principles of fairness.
I appeal to MAS to consider taking over the handling of complaints. There are already a large number of formal complaints as the report stated. Furthermore, the final number may be higher because non-Lehman-linked complaints were not part of the 5,000 stated and many other complaints may be expected. Hence, MAS may want to take a more cautious approach when a large number of ordinary citizens are affected.
Secondly, the complaint handling process should be undertaken not only to determine fairness but also the integrity of the financial institution.
Thirdly, the process should be handled directly by an independent party. Having such a party to oversee the complaint-handling process may not be sufficient.
It should be handled by an independent party from the start. This may involve a significant investment in resources by MAS.
It is also true that MAS is not in a position to guarantee the profitability of financial products.
But, it is MAS which Singaporeans trust most to uphold the integrity of a financial institution.
Leong Kok Ho
I REFER to the article last Thursday, 'Lehman-linked investors to get news in Jan', which reported that almost 5,000 formal complaints had been filed and that the Monetary Authority of Singapore (MAS) was satisfied that all 10 institutions involved were reviewing complaints based on principles of fairness.
I appeal to MAS to consider taking over the handling of complaints. There are already a large number of formal complaints as the report stated. Furthermore, the final number may be higher because non-Lehman-linked complaints were not part of the 5,000 stated and many other complaints may be expected. Hence, MAS may want to take a more cautious approach when a large number of ordinary citizens are affected.
Secondly, the complaint handling process should be undertaken not only to determine fairness but also the integrity of the financial institution.
Thirdly, the process should be handled directly by an independent party. Having such a party to oversee the complaint-handling process may not be sufficient.
It should be handled by an independent party from the start. This may involve a significant investment in resources by MAS.
It is also true that MAS is not in a position to guarantee the profitability of financial products.
But, it is MAS which Singaporeans trust most to uphold the integrity of a financial institution.
Leong Kok Ho
Monday, December 22, 2008
Quote - President Elect Obama
Two years from now, I want the American people to be able to say,
"Government's not perfect; there are some things Obama does that get on my nerves.
But you know what?
I feel like the government's working for me.
I feel like it's accountable.
I feel like it's transparent.
I feel that I am well informed about what government actions are being taken.
I feel that this is a President and an Administration that admits when it makes mistakes and adapts itself to new information, that believes in making decisions based on facts and on science as opposed to what is politically expedient."
Those are some of the intangibles that I hope people two years from now can claim," -
Barack Obama, president-elect.
http://en.wikipedia.org/wiki/Barack
http://andrewsullivan.theatlantic.com/the_daily_dish/2008/12/the-year-of-oba.html
http://www.time.com/time/world/article/0,8599,1865069,00.html
COMMENT BY TAN KIN L IAN
I find this approach by President Elect Obama to be quite refreshing. He is willing to admit mistakes and to make decisions based on new facts, and not on political expediency. This is quite different from the approach adopted by most governments.
I find the flexible approach preferred by Obama to be more suitable to cope with uncertainty. I hope that he will succeed in his approach.
"Government's not perfect; there are some things Obama does that get on my nerves.
But you know what?
I feel like the government's working for me.
I feel like it's accountable.
I feel like it's transparent.
I feel that I am well informed about what government actions are being taken.
I feel that this is a President and an Administration that admits when it makes mistakes and adapts itself to new information, that believes in making decisions based on facts and on science as opposed to what is politically expedient."
Those are some of the intangibles that I hope people two years from now can claim," -
Barack Obama, president-elect.
http://en.wikipedia.org/wiki/Barack
http://andrewsullivan.theatlantic.com/the_daily_dish/2008/12/the-year-of-oba.html
http://www.time.com/time/world/article/0,8599,1865069,00.html
COMMENT BY TAN KIN L IAN
I find this approach by President Elect Obama to be quite refreshing. He is willing to admit mistakes and to make decisions based on new facts, and not on political expediency. This is quite different from the approach adopted by most governments.
I find the flexible approach preferred by Obama to be more suitable to cope with uncertainty. I hope that he will succeed in his approach.
Survey - choosing a place to live, closeness to facilities
If you have to choose a place to live, which facilities and amenities are most important to you, to be within walking distance or a short drive?
Take part in this survey:
http://www.surveymonkey.com/s.aspx?sm=oUSMVBqRTOeg4jVdJJ6qfA_3d_3d
Take part in this survey:
http://www.surveymonkey.com/s.aspx?sm=oUSMVBqRTOeg4jVdJJ6qfA_3d_3d
Survey - complaint to FIDREC
If you have made a complaint to FIDREC and have received their reply, please participate in this survey:
http://www.surveymonkey.com/s.aspx?sm=lVHW2L6lkBoIvH23Z_2bk_2fcQ_3d_3d
http://www.surveymonkey.com/s.aspx?sm=lVHW2L6lkBoIvH23Z_2bk_2fcQ_3d_3d
Survey - Complaint to Financial Institution
If you have made a complaint and received a decision from the financial institution, please participate in this survey:
http://www.surveymonkey.com/s.aspx?sm=h0vhpMqXdd3WyD1uxqz7Jw_3d_3d
http://www.surveymonkey.com/s.aspx?sm=h0vhpMqXdd3WyD1uxqz7Jw_3d_3d
70% willing to join FISCA
140 people participated in the poll. 70% are willing to join FISCA and pay an annual subscription of $36. The remaining 30% do not wish to join FISCA. I consider that there is good support for FISCA.
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