Yee Chia Hsing
Singapore
“Thank you, Mr Speaker. My question is for Minister Gan Kim Yong. It is reported in many countries, including the US and the UK, that due to fear of the virus, even people with serious health emergencies such as heart attacks or strokes are not going to the hospitals.”
“Thank you, Speaker. First, I would like to declare my interest as a director of two SGX-listed companies. My work also requires me to advise SGX-listed companies.”
“Chairman, I would like to echo Ms Joan Pereira's call for arts to be accessible to all, regardless of socio-economic status. Besides looking at the issue from the perspective of consumers of arts and culture, is MCCY also looking at the issue from the perspective of the providers of arts and culture?”
“Chairman, early this year, Senior Minister of State Lam Pin Min mentioned that the Government will spend more than $1 billion to accelerate the completion of the island-wide cycling network.”
“Chairman, Singapore acts as a regional air and sea transport hub. We have managed to use Singapore's geographical location to our advantage, and over the years we have become a major regional and international hub through bold vision and thorough planning.”
“Thank you, Chairman. I hear from Senior Minister of State Janil that in 10 years' time, almost 100% of the new cars sold will be electric vehicles or clean energy vehicles. But now we are at 0.1%. How do we move from 0.1% to 100% in 10 years?”
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Every one of 131 lines we hold for Yee Chia Hsing, in date order, each linked to its source. Free to read, in full, without an account. Page 2 of 3.
“Mr Speaker, to the Minister for Trade and Industry, I would like to highlight this rental issue again. I brought up this issue during the Opening of the Second Session of this Parliament. I think a lot of businesses, because they signed short leases of three years, every time the lease is due for renewal, they face a big surprise from the landlord saying the rental going forward would increase by a huge amount and, if they do not renew, they would have to reinstate. The landlord is actually using this friction of having to incur reinstatement costs to their advantage. All these actually feed into the cost of living because the businesses suffer the higher costs on renewal of rental rates and, because of that, they have to charge consumers higher. So, I hope MTI will look into my suggestions of having longer lease periods as well as mandating that landlords should not put their reinstatement "clause" into all their tenancy contracts.”
“Mr Deputy Speaker, Sir, I would like to suggest that the Registrar-General of Births and Deaths take on the role of managing a central registry of life insurance policies. All insurance companies offering life insurance policies must submit the policy details to the Registrar. When the Registrar becomes aware of the death of a policy holder, the insurance companies will be notified. The Registrar will also assist to contact the next of kin or beneficiary to inform them of the existence of the policy. I believe there is a similar situation for cash in bank accounts where the account holder has passed on but the family members do not know of the existence of the bank account and so do not approach the bank to submit a claim on the money in the account. As such, it would be good if a central registry can also keep track of what bank accounts each individual has. Mr Deputy Speaker, Sir, my suggestion of having a Central Registry of Life Insurance Policies and Bank Deposits will reduce the hassle that family members have to go through as it will become a one-stop central registry which family members can check what insurance policies and bank accounts their deceased family members have. The cost of operating this Central Registry can be recovered by legislating that all monies which are unclaimed despite the best efforts of the Registrar to contact the next of kin will go to the state. I hope the relevant authorities can take into account my suggestions that I have made today.”
“Mr Deputy Speaker, Sir, I rise in support of the Bill. This Bill has laid out several key amendments to ensure the level of protection for depositors and policy owners remains adequate. Today, I have a few points to highlight as well as offer some suggestions. Mr Deputy Speaker, Sir, many people buy life insurance without informing their family members of the insurance they have bought and from which insurance companies. In such situations, family members of the policy holder who has passed on have to see if there are any notices of premium payments or insurance statements to have an idea of which insurance companies to contact. This is getting more difficult with paperless e-statements. Sometimes, we have also had a situation where the policy holder may not stay with the other family members and statements are sent to the address of the policy holder only. As such, family members and beneficiaries may not even know of the existence of such insurance policies. Right now, there is an online register launched by Life Insurance Association Singapore for members of the public to check on unclaimed insurance payouts. But this is only where the insurance companies already knew that the insured has passed away and the amount has become claimable. I would like to ask whether insurance companies check their databases against the register of deaths at regular intervals so that they will know that the insured policy holder has passed on. Insurance companies are also not the best party to contact the next-of-kin of the policy holder as, very often, such contact information is not collected or, if collected, is not updated regularly.”
“An exemption from granting the five-year option may be made for tenants who take over existing furniture and fittings from a previous tenant and also do not have to reinstate the premises to a bare shell condition upon the expiry of their leases. This will help to lower business cost and discourage landlords from inserting the reinstatement requirement into their leasing contracts. The reinstatement requirement is not only costly to businesses but also environmentally wasteful. Without the reinstatement clause, businesses, which take over the furniture and fittings may only need to make minor renovation adjustments. This will help lower business cost. Deputy Speaker, Sir, for too long, we have left things to market forces and not impose any regulation on commercial and retail leases. I think it is time to consider this as a sacred cow which we have to slay in the name of fairness and help to level the playing field for small businesses. On this note, I reaffirm my support for the Motion. 5.40 pm”
“The current situation thus allows the landlords to hold small businesses ransom due to the unequal bargaining positions. Mr Deputy Speaker Sir, I decided to talk about this topic as I was eating at a café on the ground floor of an office building and overheard the lady boss telling her staff that they most likely are going to close soon as the landlord has informed her that rental will increase by 50% upon renewal. Sir, if we uphold the concept of fairness, then this is indeed not a level playing field between the landlord and the tenant. Our fellow Member, Mr Murali Pillai, also spoke about this during an Adjournment Motion on the power imbalance in contracts involving small businesses in February this year. In his speech, he advocated offering small businesses the same level of protection as would be offered to individuals. This is the case in Australia and, to a lesser extent, Hong Kong. Deputy Speaker, Sir, there is an urgent need to relook how such unfair practices are affecting small businesses. If left unchecked, it may harm entrepreneurship, increase cost of doing business and, eventually, lead to higher cost of living in Singapore. Sir, I think the initial lease term of three years is too short a period for new businesses trying to set up shop. The short lease period would not allow them to build up a steady clientele base for them to recover their investment in their furniture and fittings. As such, I would like to propose that landlords have to give all prospective new tenants the option to lease for a period of up to five years, while subsequent renewals can remain at three years. This allows a longer runway for SMEs to build up their businesses and recover their investment in the premises.”
“Mr Deputy Speaker, Sir, I rise in support of the Motion to thank the President for her maiden Address. The President mentioned that Singaporeans want to live in a fair and just society. She also asked that we must have the courage to go for bold changes and not just tweak things at the margin. One area which I think we should re-consider is our unwritten principle of relying on market forces and being generally reluctant to impose too much regulation in the spirit of promoting free enterprise. However, market forces may, at times, result in inequitable outcomes. Sir, one area which I am concerned about is the relative mismatch in bargaining power between small businesses or SMEs vis-à-vis big corporate landlords for commercial and retail space when it comes to leasing contracts. Allow me to elaborate. Over the past few years, control of commercial and retail space is getting more concentrated. A handful of large property management and investment companies now controls a large slice of the market and are in the position to influence leasing practices and rental rates collectively. Typically, most SMEs leasing commercial or retail spaces from these big landlords will be offered an initial lease period of three years. Upon the expiry of the three-year period, many tenants received a rude shock from these landlords that rates have increased significantly. They are thus forced to pay the higher rentals. Even if they choose to move out, they would face heavy losses as their investment in the furniture and fittings would become worthless. Moreover, very often, they even have to fork out more money to reinstate the premises to the original bare shell condition.”
“Thank you, Speaker. Human memories are short. So, after every incident that happened, the danger is that when this current batch of servicemen graduate, move on or retire, the new batch of servicemen, all that they have are the TSRs that have been modified or added, but they are in a vacuum without context. So, I am not sure whether we can change our safety training, also to put context to the TSRs when we do the training to say, “We put in this TSR because that incident happened and we lost a serviceman.” So that people would realise the importance of the TSRs for subsequent batches of servicemen.”
“I have received feedback that some of the families have been working abroad for many years and their kids grew up overseas. In their case, when they come back, the children are supposed to enter secondary school and they have to suddenly study MTL when they do not even speak a single word of Mandarin. Is that also ground for exemption?”
“I thank the Second Minister. May I clarify: because I read from the newspaper that above the Badminton Hall, there is this very big open-concept massage place. If they apply, then can they get to operate beyond 10.30 pm? Because for a lot of these open-concept massage places, in fact, from 10.00 pm to past midnight is actually the peak-hour timeframe for them.”
“So, I hope MOH can work with the schools to eliminate this "abnormality".”
“No. My question is not for Dr Amy Khor. I am very glad to hear from Parliamentary Secretary Amrin Amin that we are now only allowed to serve healthier choice drinks in our schools, but I believe these are limited to canned and packet drinks. One of my friends told me his son became chubbier after going to school because he discovered this thing called "Ice Milo Dinosaur". To those of us who are not familiar, "Ice Milo Dinosaur" is ice milo with a heap of raw milo powder.”
“Chairman, many residents have complained to me that users of bike-sharing services were parking their bicycles in an indiscriminate manner after using them. Sir, as fellow Members have voiced similar concerns and it is past 7.30 pm, I will not repeat what has already been said. I would like to ask MOT what is being done to address the disamenities caused by these users of bike-sharing services. Accidents Caused by E-scooters Chairman, I have received a lot of feedback both from residents and personal friends that they know of people who have been knocked down by e-scooter users on pedestrian footpaths. Usually such e-scooter users are young and do not stop to render any assistance and just speed off. I would like to know if the Ministry is aware of this problem and how it intends to address it. In particular, may I suggest that the current speed limit of 25 km per hour (km/h) for e-scooters approved for import be further reduced to 20 km/h to reduce the potential of serious injury? Safe Use of PMDs and Bicycles”
“On this issue of helping local companies win Government contracts when they do not have the track record, can the Ministry also look at the experience at the individual level? So, if a local company itself has not undertaken such a project, it can hire a professional engineer or chief engineer who has worked on such projects before to boost the track record.”
“Chairman, for our national security reasons, I think it is important that we maintain a certain number of local construction companies. We may need them for the construction of high-security facilities for which a foreign-owned construction company may not be suitable. Sir, I understand that under World Trade Organization (WTO) rules, we cannot favour local companies over foreign companies in the award of Government contracts. But surely, there must be a way to require that foreign construction companies must tender for a project under a joint venture with a local player so that our local construction companies have the chance to build up their track record. As such, I hope MOF can take the above feedback into consideration in the award of Government tenders. Opportunities for Businesses”
“Chairman, our local construction companies are struggling. In the past, I have brought up the issue of high foreign worker levy for the sector. I also filed a Parliamentary Question (PQ) on compliance costs for construction companies to implement various workplace safety requirements. Today, I would like to highlight a feedback that local construction companies have been facing increasing competition from foreign-owned construction companies and have found it increasingly difficult to win tenders for Government contracts. Er Dr Lee Bee Wah also raised this issue during the Committee of Supply (COS) for the Ministry of Trade and Industry (MTI) last Friday. The Chief Executive Officer (CEO) of a local construction company told me that the foreign-owned construction companies are winning tenders at a level which is near breakeven or maybe even at a slight loss based on their cost estimates. I asked him why would the foreign companies tender at a price that they do not make any profits? He gave several reasons. First, some of these firms have ambitions to be global construction players so they want to build up their track record, and winning a Government tender in Singapore will be seen as a feather in the cap. Another reason is that, at the working level, the management team of such foreign-owned companies, and possibly their family members as well, may be comfortable staying in Singapore, and if they do not win the tender for major projects, they may be sent home. Sir, it has thus become a very tough business environment for our local construction companies. Without winning the contracts in Singapore, they also find it difficult to build up a track record to compete overseas.”
“Because 30% of households seems like a really big number and I am very worried that, next year, they cannot receive the signal. So, please help us to reach out and help us with translation of terms. Currently, terms like "analogue TV", "digital set-top box", these are very difficult words to translate and for us to explain to residents what this thing is about.”
“Chairman, my question is directed at Senior Minister of State Chee Hong Tat. If I heard him correctly, 30% of households are still on the analogue TV signal. It sounds like a very big number. So, it translates to a few hundred thousand households which, come next year, will not receive the TV signal. I am quite happy to mobilise our grassroots volunteers to reach out. But I, myself, struggle to translate some of the terms because "analogue TV signal", I google translate it and the Chinese word that pops up, I do not even know how to read. So, I hope MCI can help us to push out something which is very easy for us to use to share with our grassroots to then reach out to the elderly residents.”
“Chairman, free-to-air TV channels in Singapore are now broadcast in both analogue and digital formats. The existing analogue TV channels will be switched off on 31 December 2018 and all Mediacorp TV channels will be broadcast in digital format only. I would like to ask the Ministry how many households are still on analogue TV signal. Of these, I suspect quite a lot of them are the elderly. As such, I urge the Ministry to put in more efforts to highlight the importance of getting ready for the ending of analogue TV signal broadcasting. To increase awareness, is it possible for blank screens to be broadcast on the analogue TV signals followed by the necessary info-commercial messages to teach users what needs to be done to receive the digital TV signals? I would also like to know if it is possible for the Ministry to work with the Silver Generation ambassadors for them to educate the elderly about the need to have a digital TV set-top box and maybe assist elderly residents to set up the TV set-top box. Sir, in conclusion, I hope that more can be done to help our elderly prepare for the Digital Only TV signals and let us hope that New Year’s Day in 2019 will not bring blank screens to them. Helping Citizens to be Digitally Ready”
“However, going regional is not without risks. Very often, we hear of Singapore companies, which have done well at home, only to lose money when they venture out. To take advantage of the growth in regional economies, our Singapore companies will need to acquire a deeper knowledge of regional markets, not just of foreign rules and regulations, but also industry-specific knowledge, as well as important information, such as the reputation of potential business partners. As such, I would like to ask how MTI is equipping our Singapore companies with the relevant market knowledge. Consumer Protection”
“Chairman, I would like to ask how the Government is helping PMETs who have been displaced or wish to move into growth sectors identified by the Government. Many displaced PMETs were previously working in mid-level management, which is particularly susceptible to cost cutting as advances in technology have allowed for easier coordination of work tasks. For example, previously, a company might need more mid-level managers to disseminate information and coordinate work tasks. But now, with platforms, such as Whatsapp, a single manager is able to instantaneously disseminate the information to the rest of the workers. Many PMETs who find themselves displaced became drivers for Grab or Uber. While our unemployment figures remain relatively low, with the resident unemployment rate of 3.1%, the figure masks under-employment where a PMET with many years of work experience ends up as a Grab or Uber driver. Sir, I am also concerned that many such displaced PMETs are sole breadwinners in the households and they cannot afford to be out of work to attend full-time skills upgrading courses. Would the Ministry elaborate what are the schemes available to help such PMETs? [Deputy Speaker (Mr Charles Chong) in the Chair] Helping Companies to Go Regional The ITMs emphasise the importance of our companies seeking out opportunities in the region. Last year, many of our ASEAN neighbours have GDP growth rates which are higher than the 3.6% reported in Singapore. The Philippines, Vietnam and Myanmar reported 6.7%, 6.3% and 7.7% GDP growth rates respectively. Closer to home, Malaysia and Indonesia reported 6% and 5.1% respectively. Sir, with a small population, plus a small market size, Singapore companies must move abroad if they want to grow bigger to reap economies of scale.”
“Mr Chairman, the global economy and Singapore economy posted better than expected gross domestic product (GDP) growth rates in 2017, while in 2018, economic growth is expected to be moderate. I would like to ask the Ministry to go into more details on this year's outlook. Sir, although our GDP expanded by 3.6% last year, the growth seems to be concentrated in some sectors while the rest of the economy lagged behind. As Prime Minister Lee mentioned during Chinese New Year, productivity and economic growth are still mainly concentrated in manufacturing and export-driven sectors. Because of this, the general sentiment on the ground is that many SMEs which are not related to these two sectors are less optimistic and feel as though they are still in a recession, even as we mention that our economy is expanding. Mr Chairman, I would also like to ask the Ministry on how it can help make our economic growth more broad-based.”
“Raising more revenues from luxury items, such as special car registration numbers, high-end wines and cigars, is not only progressive but also discretionary in nature as there is consumer choice. Once again, I would like to thank the Finance Minister and his team at MOF for presenting a well-balanced and forward-looking Budget which prepares Singapore for the years ahead. Mr Speaker, Sir, I support the Budget. 12.05 pm”
“First, I would like to repeat my suggestion last year to introduce the tender of SG-series registration number plates for cars. I noted that the front page of the Straits Times Budget Special covering the Budget Speech by the Finance Minister also featured a white car with a SG2018 number plate! I am convinced that the tender of SG series registration car number plates would raise good revenues which will help boost our Government coffers. Second, I would like to suggest altering the duties payable for dutiable luxury goods, such as cigars and high-end wines and alcohol. According to the Singapore Customs website, for most wines, there is no customs duty payable and the excise duty is $88 per litre of alcohol. Tobacco products are charged by weight and its excise duty rate. I would like to suggest charging duties based on a percentage of its value as opposed to the current rate based on physical measure, such as volume or weight. Under the current system, a bottle of wine which costs $50 is charged the same duty as another bottle which costs more than $1,000. Similarly, a top-end Cuban cigar is taxed at a rate of $427 per kilogramme, which is a similar rate to normal cigarettes, even though it may cost many times more. Mr Speaker, Sir, I propose to change the calculation of duties on luxury goods such as wines and cigars to one which is based on customs value. Understandably, this may incur more work for the customs office. However, I am hopeful the Ministry can look into my proposal. Mr Speaker, Sir, as our Government faces increasing expenditures for healthcare and social spending, we need to find ways to make our tax system even more progressive.”
“Mr Speaker, Sir, Finance Minister Heng Swee Keat and his team have presented a well-balanced plan that shows prudence in our fiscal policies and continues from last year’s theme of preparing Singapore for the future. During the Budget debate last year, I mentioned that there is room to make our tax system more progressive and that those who can afford must contribute more. In particular, I suggested having an additional tier of Buyer's Stamp Duty for properties with transaction values above S$1 million. I am glad that this has been introduced this year, although I must say that the Finance Minister is very kind to increase the marginal rate from 3% to 4%, as I had earlier suggested a much higher marginal rate of 10%. Another progressive measure which I noticed is that the levy for foreign domestic workers (FDWs) has increased. In particular, the levy for a second FDW has increased from $265 to $450, representing almost a 70% increase. But I am sure households which can afford to hire two or more FDWs would be able to afford the increase. I wish to reiterate that families who may need help in caring for young children, the elderly, or family members with disabilities will not be affected by this increase as they will continue to enjoy the concessionary levy rate of $60 a month which remains unchanged. Mr Speaker, Sir, I would like to reiterate the call for more ways to raise revenues in a progressive and discretionary manner. During the Second Reading of the Stamp Duties Bill last year, I suggested setting up a special department to look at creative ways to raise more revenues and also look out for existing tax loopholes which should be closed. I hope the Ministry is looking at this proposal. Mr Speaker, Sir, I would like to offer two suggestions today.”
“I would like to thank the Minister for the Ministerial Statement and I am very happy to note that the law is under review. One key fact of this whole City Harvest case is that a key beneficiary, which is, the wife of Kong Hee, was not charged for any offence. In reviewing the law, would the Ministry also look at whether to put in some penalties where the beneficiary of a CBT case can also be charged under the law?”
“Thank you, Mr Deputy Speaker. On this issue of sharing of information from a licenced to an unlicensed moneylender, because they can just pass a sheet of paper at the coffee shop, it is very difficult to prove. So, may I suggest to the regulator, they consider having what we call "mystery shopper"? That means we get somebody to approach a licensed moneylender and, if soon after that, that person receives an SMS, and if it is proven through multiple mystery shoppers who approached this person, then we have circumstantial grounds to charge that the moneylender is, indeed, passing on information.”
“I would also like to know if the Ministry of Home Affairs (MHA) is working with the Infocomm Media Development Authority (IMDA) for mobile operators to disable any subscriber identity module (SIM) cards which are used by illegal moneylenders. Mr Deputy Speaker, Sir, while we focus on regulating licensed moneylenders, we should also tackle the issue of unlicensed moneylending and step up efforts to curb such activities. I hope the authorities can take into account the suggestions I have made.”
“Mr Deputy Speaker, Sir, I rise in support of the Bill. Amongst other things, this Bill aims to restrict the amount people are able to borrow from licensed moneylenders, by introducing an aggregate loan cap depending on income levels. I believe this is a step in the right direction. Very often, the interest rates charged by moneylenders are already so high that borrowers struggle to repay one loan and then goes to more moneylenders to borrow to repay the initial loan, thus setting in motion a vicious circle ending in more financial trouble and possible bankruptcy. However, I am also afraid that the proposed rules may cause borrowers to turn to unlicensed moneylenders. Moreover, it is very difficult to prevent collaboration between licensed and unlicensed moneylenders. For example, a licensed moneylender possessing the contact details of a borrower could pass the contact information to unlicensed moneylenders, who may subsequently send messages promoting their easy loans. Most of the time, the recipients do not even know that these messages come from illegal moneylenders. Mr Deputy Speaker, Sir, my concern is, how will the Government agencies monitor and ensure that the licensed moneylenders do not pass on customer information to unlicensed moneylenders? Some residents have given me feedback that they receive a lot of unsolicited short message service (SMS) messages about such unsecured loans after they have approached legal moneylenders. Moreover, an alarming aspect is that some of the borrowers think that these messages come from licensed moneylenders and are well regulated when, in fact, they are not.”
“Mr Speaker, Sir, notwithstanding my comments, I support this Bill. 3.31 pm”
“Thank you, Mr Speaker. Sir, I rise in support of this Bill. However, I would like to bring up the issue of second-hand cigarette smoke, especially those suffered by HDB residents who stay above chain smokers. Typically, the resident who is smoking will stand near the window and the smoke then blows up to the unit above. Prolonged exposure to second-hand cigarette smoke can be very harmful. During the Second Reading of the Community Disputes Resolution Bill in March 2015, Members, such as Er Dr Lee Bee Wah and Mr Zainal Sapari, had brought up this issue of second-hand smoke in HDB homes. And usually, the solution is for the residents to go for mediation. One of the main shortcomings of mediation is that it will not happen if one of the parties is uncooperative. Sir, our current regulations allow smokers to smoke within their own homes. While we respect the rights of residents to smoke in their own homes, the right to clean air for the neighbours must also be respected. Mr Speaker, Sir, there had been instances where the rights of residents in their own homes have been curtailed in the spirit of public interest. For instance, I understand it is unlawful for anyone to exhibit indecent exposure even within their own homes if their neighbours complain. Sir, I would like to suggest that MOH set some guidelines, together with NEA, on what constitutes unhealthy levels of second-hand smoke. To the extent where there is evidence to prove that second-hand smoke in the upstairs' neighbours' homes have reached unhealthy levels, then the affected residents can apply to Court for the residents downstairs to take measures to reduce the level of second-hand smoke. Such measures may include prohibiting the smoker from smoking near the window.”
“Mr Speaker, I would like to ask the Minister regarding the amnesty. It is stated that staff who come forward would not be penalised. So, does that mean that they will get the same bonus as those staff who were diligently doing their job because this seems to run counter to the principle of fairness and accountability? The other question I would like to ask the Minister is: is it possible to build more what they call cross-over tracks so that if there is a problem at any point along the track, the train can turn around and we can isolate the fault and we build up the system's resilience?”
“Mr Speaker, Sir, I would like to propose that property developers extend their DLP to 12 months after the holding of the first AGM. This would provide enough time for the new MA to rectify any defect which is not resolved by the interim MA. Sir, with a growing middle class, it is increasingly important that we regulate how a condominium project is managed. I hope STB will consider the issues I have raised today. Notwithstanding my comments and suggestions, I reiterate my support for the Bill.”
“If the MCST members appoint their own companies to carry out service for the condominium, are the prices to be paid for such services reflective of general market rate and will the MCST pursue claims against such service providers if the standard of services delivered is poor? What are the current regulations or guidelines governing situations where members of the MCST have interests in such service providers? At the minimum, there should be a declaration of potential conflict of interests and SPs who are conflicted should not be able to exercise their votes to appoint their own firms as service providers. However, more can be done. It would be good if there is a requirement for a minimum of three quotes or where they are barred from providing the service. The third and final point that I would like to bring up is the responsibility of the property developer regarding the appointment of an interim MA. In the early stages after a condominium project's completion, the property developer appoints an interim MA until the first AGM is held. I would like to raise some ground sentiments from new condominium owners that the interim MA is not very effective in pursuing the condominium developer to rectify defects found in individual units and common property. The impression is that the interim MA is beholden to the developer for its appointment and would wish to be appointed for other condominium projects and, as such, would not be motivated to pursue the developer to rectify defects during the Defects Liability Period (DLP). Usually, the DLP is only for 12 months after the unit is handed over and, usually, by the time an AGM is held and a new MA is appointed, DLP is already over.”
“Mr Speaker, Sir, I rise in support of the Bill. Amongst other things, this Bill aims to improve the governance and transparency in the running of strata-titled developments. There are three points which I would like to touch on today. First, one of the proposed amendments is to limit the number of proxies that one can hold. Mr Speaker, Sir, I am concerned that after this, there will be many occasions that the minimum quorum is not met. We have to recognise that many residents are rather apathetic and being appointed as part of the management council is, indeed, a "thankless" job. Right now, the quorum for a general meeting is set at 30% of share values of all lots and, if the quorum is not met within half an hour, the meeting may be held if two or more SPs are present in person. While I understand the necessity for a meeting to carry on, I feel the minimum of just two under the "half hour" rule is a bar set too low. Mr Speaker, I have two suggestions which I hope the Strata Titles Board (STB) would consider. My first suggestion is that we raise the minimum number of people under the "half hour" rule to 10% of the share values of all lots or two subsidiary proprietors whichever is higher. My second suggestion is that all decisions made during a general meeting where the 30% quorum is not met are to be put on hold and condominium owners have the right to challenge the decisions. If two or more SPs challenge the decisions within 30 days of being informed of the decisions made, then a new general meeting has to be called. The second point I would like to talk about is the checks and balances in place for the appointment of service providers, such as the MA or companies that carry out repair and maintenance works for the development.”
“The increase in Additional Registration Fee for luxury cars in early 2013 is one such example of a tax which is both progressive and discretionary. In terms of finding new sources of revenue, for instance, we may consider whether it makes sense to tender out car registration number plates with alphabet series which are no longer available. For example, I think a two-letter SG series number plate will be very well received. Madam, we have just concluded our Budget Debate and COS for the various Ministries over the past two weeks. As a responsible and prudent Government, we have always tried to run a balanced Budget. But it will become increasingly challenging as our population ages. I hope that with additional revenue sources which are both progressive and discretionary, we will not need to increase other taxes which may impact low- to middle-income families. Madam, I support the Bill. 11.55 pm”
“Madam, I would like to thank MOF for introducing this Bill. I brought up this issue during the Budget Debate last Wednesday, asking that we review the concept of ownership for residential properties to include beneficial interests instead of just looking at the registered owner. I had proposed that if a residential property is held by a corporate entity or a special purpose vehicle, and the shares of the company are transferred from seller to buyer, the normal residential stamp duties should apply. I am pleasantly surprised by the speed that my suggestion has been taken up. I do not think the Ministry could have come up with the Bill within such a short time, so I am sure the Ministry had been looking at this issue for some time. Madam, as our Government's spending on health, infrastructure and social support increases, we face an urgent need to increase our revenue to fund this spending. Quoting recent newspaper articles after Minister Lawrence Wong talked about this during his Committee of Supply (COS) speech, this move is seen by some industry players as plugging an existing regulatory loophole. I would like MOF to consider if a separate taskforce can be set up specifically to look at whether there are other loopholes across the various Ministries which we have to plug. Madam, the task of closing a loophole should not be left to the individual Ministries since we usually need a fresh pair of eyes to look at an issue. This taskforce should also look at other creative ways to increase Government revenues. I hope the Ministry will be able to find more revenue sources which are both progressive, in that only the rich pays, and discretionary, in that they have a choice.”
“Mdm Chairman, I have received some feedback that our local artists are finding it difficult to find suitable locations to exhibit their artwork, conduct classes and hold workshops. Some of these artists thus have to either operate out of their own homes or rent small spaces in various locations. This is not ideal, as being scattered all over makes it difficult for the public to view the works of various artists in one location. JTC has set aside Block 71 and two nearby blocks at Ayer Rajah Crescent as a launchpad for local startups, offering space for these startups at lower rental rates to help them. The presence of many startups in one location also helps to build an ecosystem, promote greater creativity and the sharing of ideas. Does MCCY currently offer something similar for our local artists? If not, can the Ministry consider taking over some unused Government buildings, such as former school premises, for this purpose?”
“I would like to ask, currently, do we have enforcement teams stationed near the two checkpoints just looking at the noise pollution from the Malaysian motorbikes?”
“Mdm Chairman, the motorcycle traffic jams at both the Woodlands and Tuas checkpoints are a daily common occurrence. Anyone who has crossed the causeway can see the long line of motorcycles entering and leaving Singapore. Many motorbikes entering Singapore from Malaysia for work during dawn and rush back by night, often riding fast to beat the jams. Some of these motorcycles, with modified engines and exhaust, tend to emit loud noises, which cause a nuisance. I have received several feedback from residents who stay along the PIE leading to the Tuas checkpoint about this noise pollution. I would like to ask the Ministry if enforcement measures against noisy motorbikes can be implemented or stepped up.”
“I thank Senior Minister of State Josephine Teo for her explanation. Good to know that we are staying competitive by offering smarter technology solutions to our stakeholders. However, I also know that some of our air and sea agencies have a consulting arm that offer their technology know-how to other countries. May I suggest that we hold on to this technology as our strategic advantage and we do not offer it freely to an airport or seaport which may threaten our hub status?”
“Thank you, Mdm Chairman. Singapore acts as a regional air and sea transport hub. Our forefathers had the foresight to build on our advantageous geographic location and sea trade was our first engine of growth. Spices, rubber and other commodities produced regionally were shipped through Singapore's harbour and sent to other parts of the world. We have, indeed, come a long way since. The concern on the ground is that our status as an air hub and regional port of call may be increasingly threatened by our regional peers. Thailand has a proposal to construct the Kra Canal, which would allow ships to by-pass the Straits of Malacca and Singapore altogether. Another proposal is by Malaysia to construct a new harbour along the Straits of Malacca that aims to overtake Singapore as the largest port in the region. Recently, the Chinese launched a rail freight service between China and London, thus providing a land route alternative to the traditional sea freight route between Europe and Asia. Madam, our transport trade hub status is an important pillar of our economy and people are worried that this pillar will be weakened with the regional developments that I have mentioned. As a small country, we must remain open and connected to the world, be it by air or sea. This is in line with the recommendations spelt out by the Committee on the Future Economy. In fact, it was the first out of seven strategies to take the Singapore economy forward. The Committee recommends that we need to deepen and diversify our international connections and press on with open trade. Against this backdrop, I would like to ask MOT to share its plans on how Singapore can maintain its position as the regional hub for air and sea trade flows. Air and Sea Hub”
“Madam, Government procurement needs vary and range from simple low-value purchases to complex multimillion-dollar construction contracts. Whilst we recognise the principles of value for money, transparency and open and fair competition in our procurement process, have we seen an increase in the award of Government contracts to our SMEs? Are there any specific procurement approaches that various agencies are embarking on to support innovation and growth in our industries and help the SMEs access these procurement opportunities? I hope we can help our local SMEs build their track record and credibility to participate not just in our local market, but potential overseas markets as well. This increase in opportunities will also enable the growth of job opportunities for Singaporeans. Government-led Demand”
“Chairman, I would like to thank Minister Iswaran for his answer on tiered electricity tariff. Anecdotally, I heard of stories where certain expatriate families' utility bills are paid for by the companies, so they keep their aircon on throughout the day, throughout the whole house and the electricity bill can be more than a thousand dollars a month. So, it is exactly these few, I would say, which are the most polluting households, which we would like for them to pay a penalty to change their behaviour.”
“Chairman, SMEs are an important part of our economy. As our economy slows down to 1%-3% in the long run and there are more disruptive changes, such as the onset of online retailers, many SMEs are finding it challenging to adapt to these structural changes and compete effectively. Some of the common reasons cited are mainly implementation costs of the new technology, lack of training and know-how or, simply, reluctance to change. On that note, I would like to ask what the Ministry is doing to help our SMEs increase their competitiveness and capture new opportunities both in the local and global markets. Forging an Inclusive Economy to Benefit SMEs”
“It also stated that this could mean between 2.1% and 4.3% increase in electricity prices compared to current rates. On this note, I would like to suggest implementing a system of tiered charging for electricity based on consumption. We can consider setting the tier at a high level, hence we do not penalise the bulk of the households in Singapore. Perhaps, we can set a benchmark for only the top 5% to 10% users of electricity for a start. The additional revenue can be used to subsidise the lower-income households so as to minimise the impact of the carbon tax on them.”
“Thank you, Chairman. Chairman, there has been a growing interest in sustainability following our ratification of the Paris Agreement on Climate Change. We have pledged to reduce our carbon emission per dollar of GDP by 36% from 2005 levels by 2030. In his Budget Speech, Finance Minister Heng Swee Keat mentioned that a carbon tax will be levied starting from 2019. One of our plans to reduce our carbon footprint is to raise the adoption of solar power to 350-megawatt peak (MWp) by 2020, which represents 5% of peak electricity demand. The SolarNova programme is a step in the right direction, although mainly in public areas of Singapore. As it stands, when electricity from solar energy is exported back to the grid, solar facilities owners will sell the electricity back at a lower rate than the normal electricity price due to the deduction of a grid charge. In many other countries, the reverse is true and solar facilities owners can sell the solar electricity at a higher rate than the normal electricity price. This is to encourage the adoption of clean energy. To encourage more installations of solar and other clean energy facilities, could we consider that grid charges be levied on a one-time basis commensurate with the cost of processing and connecting the facility to the grid, rather than on an ongoing basis? I would also like to ask the Ministry to elaborate further on our plans to encourage the use of clean energy in Singapore. Tiered Electricity Tariffs Next, Chairman, we are introducing a carbon tax on large direct emitters of greenhouse gases from 2019. The National Climate Change Secretariat said that this proposed tax rate is equivalent to a rise in electricity prices of between 0.43 and 0.86 cents per kilowatt-hour (kWh).”
“Mr Chairman, Singapore, as an open economy that participates in international trade, is highly susceptible to external shocks and changes in business cycles. CFE highlighted the importance of innovation, digitalisation and productivity for us to meet the challenges ahead, while the CFE report is mainly targeted at the private sector and there are ITMs to help companies and workers in various industries adapt to the future changes. Could the Ministry share how the Government and public sector are also adapting? Pro-Business Environment”
“Thank you, Mdm Chairman. I am very happy to hear from Mr Ong Ye Kung that MAS is looking at unclaimed funds in bank accounts. Can I also ask him if they are also looking at unclaimed insurance policies? Because a lot of people buy insurance policies and when they die, the family members do not know what policies they have bought or from where.”
“Moreover, the nature of such stamp duties is that they are discretionary in nature, as buyers and sellers already know the stamp duties payable beforehand and would have a choice of whether to enter into the property transaction. I hope that with these additional revenue sources, we will not need to increase other taxes which may impact low- to middle-income families. Sir, in conclusion, the initiatives for Budget 2017 are balanced and forward-looking, but we need to see how we can meet the fiscal challenges ahead while minimising the tax burden on the man in the street. Mr Deputy Speaker, Sir, I support the Budget.”
“The Buyer's Stamp Duty rate for the first $180,000 is 1%, followed by 2% for the next $180,000. Stamp duty payable for amounts above $360,000 is 3%. I would like to suggest adding an additional tier of 10% for transaction values above $1 million. With the higher threshold of $1 million, I believe this will not significantly affect most middle-income families and HDB upgraders. This would also be similar to having ABSD of 7% on top of the current Buyer's Stamp Duty of 3%. This change would also be seen as a permanent change to the stamp duty structure rather than the current ABSD scheme which is seen as a temporary scheme. Sir, my second suggestion is for the Government to review its concept of ownership of residential properties which currently only applies to the registered owner but not the beneficial owner. Currently, if a residential property is held under a special purpose vehicle (SPV), and if the SPV is transferred from seller to buyer, normal residential stamp duty is not payable. This is because the registered owner of the residential property still remains as the SPV and does not change. I think this is an anomaly which needs to be addressed since, for all intents and purposes, the beneficial interest of the property has changed hands. In this type of situation, not only does the buyer of the SPV avoid paying Buyer's Stamp Duty and Additional Buyer's Stamp Duty, he also avoids paying Seller's Stamp Duty, which would have been payable if the new buyer then flips out the underlying residential properties within the four-year period. Most of the time, transactions of such nature are carried out by property developers and property investment companies, and this change is unlikely to affect individual buyers and sellers of residential properties.”