Human Organs Transplant Act (HOTA)

I read about the 19 year old boy who was saved by a new heart in the Straits Times last Tuesday. I noticed about the Human Organs Transplant Act(HOTA) that was mentioned in the Article.
I like to share with you what HOTA is about.

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HOTA was introduced in 1987 administered by the National Organ Transplant Unit (NOTU) in MOH.
It is a presumed consent law that allowed for the removal of kidneys for the purpose of organ transplantation from those who died in a hospital as a result of accidents, and did not object to organ donation prior to their death.

In 2004, amendments to HOTA were passed:
a. to extend HOTA beyond kidneys to include the liver, heart and cornea;
b. to extend HOTA beyond death due to accidents to all causes of death; and
c. to extend HOTA beyond cadaveric organ donation to include living donor organ transplants.

HOTA applies to Singapore citizens and permanent residents between the ages of 21 and 60 years.
Muslims were excluded because of religious reasons. Persons of unsound mind were also excluded.

Persons who objected to organ donation could opt out by registering their objections with the National Organ Transplant Unit (NOTU)

For more information on HOTA, please call the MOH hotline at 1800 225 4122 or email MOH_HOTA@moh.gov.sg

Why Singaporeans use more Plastic Bags

Singaporeans use about 2.5 billion plastic bags a year. Very much more than any country in the world. Why? Let me analyse:

1) Singaporeans get groceries on ad-hoc basis usually after a day of work. They do not bring their own bag to office everyday.
- Other countries usually do their grocery shopping outside city and on planned basis, eg. once a week

2) Many Singaporeans do not drive due to the populated density. They lacks a place to put their own bags.

3) Singaporeans find plastic bags very useful and do not mind having more. They use them to store rubbish then throw away into their chutes.
- Other countries use rubbish bin outside their house and someone will come to collect. Rubbish bin uses only one big black bag

4) Singaporeans get their bags for free and there are no legislation to restrict usage.
- Some countries charges 5-20cents for each bag. Consumers will think of ways to reduce buying more bags.

NEA with several agencies are currently running some events to encourage reduced usage of plastic bags. I don't think it will succeed until the day government legislate and make consumers pay for the bags.

Free Ice-cream (2)

Went for my free Ben & Jerry Ice-cream at Whitesand this afternoon.

* The queue was very orderly

* There was 4-5 staffs controlling the crowd and share about their ice-creams

* The estimated waiting time given to us is very accurate

I queued 12 minutes and chose my favourite Strawberry Cheesecake Ice-cream.

The chunky strawberries in a spendid concoction of rasberry ice-cream and crunchy biscuits makes my day. I'm not sure though if there are actually cheese in it.

I'm sure it makes many people's day too. Thank you Ben & Jerry...

Free Ice-cream

Annual Free Ice-cream from Ben & Jerry since 1979!!!

17th April, 12noon to 7pm at 8 participating Ben & Jerry's Scoop Shops:

Downtown East, #01-08A

Great World City, #02-40A

Suntec City Mall, #01-152

Raffles City, #B1-80

The Cathay, #02-12

United Square, #02-40A

VivoCity, #02-135

White Sands, #01-36

If its near your house, hurry!!! Believe me, they serve really good ice-cream!!!

Hospital Insurance. You sure you have it???

I always ask my customer this simple question, "Do you have a Hospital Insurance?"
Around 80% = "Yes", 15% = "Don't Know" and rest 5% = "No"
For those who say "Yes". Many of them misunderstood what they have.

1) Some are holding to a Policy that covers Critical Illnesses.
* It does not cover their Hospital Expenses.

2) Some are holding to a Policy that covers Hospitalisation Benefit.
Hospital Benefit = $xxx for each day stay in hospital.
* It also does not cover Hospital Expenses.

3) Some are holding to Medishield.
The Benefit Limits are low and Deductible / Co-insurance applies
- Deductible = The initial $x,xxx amount to be paid by policyholder before Insurance kicks it.
- Co-insurance = The % PH has to pay after paying the Deductible
* They do not realise that Medishield is designed for prolonged stays in B2 and C wards.
* It does not fully cover Hospital Expenses

4) Some are holding to a Private Shield Plan
Same like Medishield, there are deductible and Co-insurance but they are suitable for higher wards
* Many thought pvivate Shield Plans cover every cent of the bill paid by Insurance.
* They do not check if they have another plan to cover the deductible/Co-insurance

5) Some are really fully covered.
* They may form only 25% of those who say "Yes" previously

Many of those who falls in no. 1 to 4 above are professionals and highly educated but they choose to be ignorant by not seeking advice.

Frustrations from Call Centres

I read Mr Tan Kin Lian's blog (http://tankinlian.blogspot.com/) recently and he reminded me the frustrations I faced with many call centres. Below is a recent experience:

I encountered configuration problem with my PDA recently. I want to call their Customer Service to check.

* I spent 5 minutes searching their website for their Customer Service no. - I failed
* I saw an email link and I click on it. I spent the next 5 minutes trying to fill up some data and one of it is "Service tag no". I can't find this service tag no. on my PDA. - I failed again.
Subsequently, i found a tel. no for the purchase of PDA
* I called that purchaser no. and for 5 minutes I was put through a series of automated voice before I managed to talk to someone. That person told me I called the wrong no. and he gave me another number.
* I called that no. and for next 5 minutes, I was put through another series of automated voice. Worse this time round, I could not find the right button to talk to anyone.
* I called the previous no. and listen to the 5 minutes voice system again, I talk to the people there and they taught me what no. to press in that technical support no.
* I listened to the frustrating series of voice for 5 minutes again before I managed to talk to an officer.

I spent nearly 30 minutes before I can talk to the right person. I was angry because they leave behind a no. to buy the PDA but not a no. to help solve our problem. They seems only interested to sell, but not to serve. There are too many layers put in place.

The best Call Centre I encountered is still the NTUC Income one. Its 24/7/365. No automated voice and usually a very sweet voice will greet me. The best thing is, "They greeted me "Mr Khiat" whenever I called them." ***Impressive*** No wonder the best call centre in the world...

Rising Property Prices

We are hearing reports of property prices rising almost every month in the news. Why the sudden surge in price over the past 1 year? Let me speak from my point of view.

1) The buyers this time round are more international than Locals. The demand are largely from the Europeans, Americans, Chinese and Indonesians.

Our 2 IRs and the F1 talks had successfully attracted lots of attention to this small red dot.

2) Property is a highly geared investment. I'm able to pay little deposit and borrow the rest. If price rise fast enough, I can make a profit of 10 over thousands when I only pay a few thousand of interest and legal fees.

3) Property investments had created thousands of millionaires in the past. Such thoughts are re-visiting these people again 10 years of dampened interest in this investment class.

Will I invest if I have money?

The price increase are largely constrained to the higher end properties. The current prices are too high and had reached a speculative stage. As new supplies of condos start coming in, the prices will stablise and profit may be capped. I will not invest in them unless I had too much money to spend like some Arabians or Indonesians.

I'll prefer to invest 60% in Reits or Infrastructure companies that gives regular dividends, Unit Trust that invest regionally and basic amenities as such food, fuel, etc at bullish times like this. 20% can speculate into Shares and Rest of 20% into Bonds or Money Markets.

Rule of 72

I always manage to amaze my friends and clients with my speed of calculating how fast their money takes to double with the interest rate they give me.

I had actually used a very simple formula called "The Rule of 72"

The Rule of 72 formula is as follows:

Years To Double Your Money = 72 / Interest Rate

Eg, 6% interest

Years to Double your money = 72 / 6 = 12

Haha. Simple Right???

Welcoming Mean Testing in Hospitals

Khaw Boon Wan announced that mean testing are expected in local Public hospitals within a year. (Sunday Times, 8th April 2007) What is he talking about? Let me share...

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The situation?

* Those who stays in C wards are subsidize up to 80% and B2 wards up to 65%

* Subsidizes are supposed to be for the poor who cannot afford proper healthcare

* Some people abused it. They are rich but pretend to be poor and enjoy the subsidizes

* This is unfair to those who truly need the subsidizes and a drain on government expenses.

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How to prevent this?

* We use a method call Mean Testing. Mean Testing is basically a check on your income and decide how much of subsidizes the government can give. I'm not sure how they will do a check on your income. Probably several questions asked on your Income before hospital admission.

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Whom does it apply?

* For those staying in Public Hospitals for over 5 days

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What I feel?

* Good move. You will expect less waiting time in subsidized wards as it will deter those who abuses the system. These people may choose B1 wards instead.

* I personally met few people who insisted that they will get subsidized healthcare when they are sick. Mind you, these people that I know are not poor.

* However it is not easy to implement strictly as a person's Income might be good, but expenses might be high too. It will be difficult for this group of people.

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What should you do now?

* If you are an average Singaporean with at least $600-$800 per head, you better get a Healthcare Insurance when you are still healthy.

* Be prepared. Don't be "Penny Wise, Pound Fool"

My new Wife and Mistress

Bought 2 gadgets to prepare for my next 2 years in the Financial Advisory Industry.
The Laptop is my wife. When I'm at home, I'll stick to her. (Fujitsu Lifebook S2210V2)
The PDA is my mistress. When I'm out, she'll always be with me. (Dell Axim X51)

Technology gives convenience but problems at the same time.

a) Windows Vista not compatible with Netscape Messenger. I lost thousand of emails from akhiat@pacific.net.sg.
b) I could not transfer my address book(LDIF file) to the Microsoft Outlook. I have 700+ contacts in it.
c) Windows Vista seems to use more energy than Windows XP. My AMD processors are emitting more heat
d) My 520MHz PDA seems a bit retarded due to the large number of clients that was stored in it.

No choice as I'm on budget. If I get an Intel Centrino Processor for my laptop, I need to fork out extra $800. If I buy a 624MHz PDA, I will need to fork out extra $130.

I will treat my Wife and Mistress with Tender Loving Care(TLC). In turn, hope they will serve me well too...

3 Reasons why you should exercise

1) Lower Your Blood Pressure
Keeps your arteries elastic which in turn ensure blood flow and normal blood pressure. Sedentary people have a 35% higher risk than atheltes of developing hypertension.

2) Stronger Heart
The heart become stronger when you exercise. It can pump more blood with each heart beat and with less strain.

3) Lower Cholesterol
Lower LDL levels (Bad choleesterol) when you exercise regularly

Another way to clear toliet choke

A friend emailed me after seeing my blog. He taught me another way to clear toliet bowl choke.

"For a choked toilet bowl, fill up a 1.5 ft pail full of water, if need be, stand on a stool, throw e water in, in a gush."

Well. I think its worth a try if my toliet bowl get choked again...

An important Lesson from Dad

My toliet bowl was choked for unknown reason one morning. I tried many methods to clear it. Long/Short Flushing, Digging the toliet bowl with the toliet brush and putting in a lot toliet paper and tried pushing down the choke with the brush. My Brush broke, things got worse and I could not use that toliet bowl for 1 week.

I finally called my Dad for help. Dad came to my house, took a look, asked a few questions, then took our mop, flushed the toliet and pumped the mop real hard into the toliet bowl several times. To my astonishment, the choke was cleared in less than 10 seconds.

My Father proudly turned his head to me and proclaimed, "No problem mah, Why cannot?"
My Wife looks at me, smile and whispered, "You still got lots to learn from your Father."
I replied, "Ya, a lesson from Dad."


My Toliet Bowl, Mop and the broken Toliet Brush.

Dying without a Will (Part4) - Writing a Will

Legal Requirement of a valid and proper will
a) Must be at least 21 yrs old
b) Must be in writing
c) Must sign the Will
d) Must have 2 witnesses for the Will
e) Must have testamentary capacity to make and execute the Will.

How to write?
a) Research for template and write yourself - Not recommended because wording used might not be appropriate and can be easily challenged.
b) Seek a professional - Lawyer or Will & Trust Company with Will writing capabilities

What to consider?
a) Know the assets that you have. Come out with an asset list if possible to ease exucutor job in future. List include your bank account, investments, insurances, Businesses, Properties, etc
b) Determine your beneficiaries
c) Know who can be your reliable Executors, Trustees and Guardian(if have children)
d) Brief the Executors, Trustees and Guardians of their roles and their responsibilities in your Will
e) Find out the particulars of these people (Full Name, NRIC, Addresses)
f) Get the Will drafted by a professional
g) Find 2 witnesses. Arrange a day where both of them are present with you
h) Register your Will with the Public Trustee Office in their "Wills Registry"

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I had come to the end of my 4 parts series. They are all very skeletal information and only serve as reference. Email me if you are interested in getting your Will done. I'm registered with a Will and Trust Company and am able to assist.

Dying without a Will (Part 3) - Small Estates

When a person die without a will and the estate is small (<$50,000), the administration can be attended very quickly and cost effectively through our Public Trustee. By seeking their assistance, there is no need to go through the lengthy court application or hearings which involve high cost.

* The Public Trustee recovers the assets in the estate and distributes these to the beneficiaries according to the prevailing law.

* If the beneficiary is a minor, the Public Trustee will hold his share in trust until he reaches 21 years old.

* If the guardian faces financial difficulties in maintaining the child, he/she can apply to the Public Trustee for the child's monthly maintenance.

How To Apply To Public Trustee To Be Administrator
Apply online with the Public Trustee office. They will request for the relevant documents in the process. You may log into their website at www.ipto.gov.sg for info.

What is the cost involved?

* First $5,000 in estate - 6%

* Next $2,000 in estate - 4.75%

* Next $3,000 in estate - 3.75%

* Next $10,000 in estate - 2.5%

* Subsequent amount - 2.0%

>> So for a full $50,000 estate, the amount payable is $1,357.50.