Singapore once more

[powerabout]

Goh Cheng Liang, Nippon Paint billionaire and richest Singaporean, dies aged 98

[powerabout]

Got a fleet of boats over 30m too

[ombugge]

RIP Mr. Goh. He was “one of kind” and never forgot his humble background.
He was a friend of my Mother-in-Law. I remember him from the 1970s, sitting outside his shop in Chinatown looking like any shopkeeper of the time, dressed in singlet, shorts and sandals.

[ombugge]

Future of Singapore, the “Garden City”; will it be a survivable or a liveable city?:

From survivable to liveable: The making of a green city

[powerabout]

The issue has moved from green sustainability to financial sustainability here in Singapore.
A supposed rich country that is borrowing more and more money is not a good sign.

[ombugge]

@powerabout

A supposed rich country that is borrowing more and more money is not a good sign.

Tell that to Trump next time you meet him.

[powerabout]

He knows but at least he is working on fixing it as its a very public known issue.
USA debt increasing at a much slower rate than Singapores.
US debt 35 trillion, gov assets 260 trillion
SG Debt equals assets, dont worry no net debt ( the gov says)

[ombugge]

Maybe you should read this:

Singapore has lessons for countries worrying about debt

Singapore is a poster child for fiscal prudence. It almost always runs a budget surplus, and its constitution virtually prohibits borrowing to pay for current spending. All three major credit rating agencies assign it triple-A ratings, and the IMF judges its sovereign debt risks to be low.

And this:

Key facts about the U.S. national debt

Even before Congress passed President Donald Trump’s major tax and domestic policy legislation, the federal government was on track to spend $1.9 trillion more this fiscal year than it collected in revenue, according to the nonpartisan Congressional Budget Office (CBO). The CBO now projects that the recently signed “megabill,” as it’s been dubbed, will add nearly $3.4 trillion more in deficit spending over the next decade.

[powerabout]

Does that change anything I said?

Singapore used to borrow to build and paid it all back so no debt pre 2000’s now going up at an alarming rate.
Last $500 Billion issued 2024 they said will only last till 2029
Thats a 50% increase

Gov doesnt account for the CPF like a bank deposit which is a debt so you add that on which must be hundreds of billions.
They are paying that back at 4% that they are clearly not earning.

[ombugge]

Singapore has NO NETT DEBT:

Why Singapore Has Zero Net Debt

[powerabout]

Nor do most countrys have net debt DOH less failed states.
Singapore says dont worry our assets equal our debt so no net debt, like DOH your worth nothing but have a giant interest bill

USA $35 trillion debt to almost $300 trillion of gov assets
Its not the debt its the interest bill which is becoming a problem in Singapore and USA

[powerabout]

Ever wondered why Singapore put someone from the Army in charge of the MRT?
They understand long marches ( broke down again)

[ombugge]

@powerabout

Singapore put someone from the Army in charge of the MRT

Do you think that you have to have hands on experience as driver, mechanic, or electrician to lead a company that operate trains and busses?

They did not select “any old soldier” to the position of CEO for SMRT:

Desmond Kuek on about.me

[ombugge]

Smaller Norwegian marine tech companies are looking to Singapore for business:

Gets support for launch in Singapore

Singaporean Yinson GreenTech marinEV and Blue Ctrl from Ålesund enter into a strategic collaboration on ship automation in Singapore.
[/quote]
The collaboration involves the introduction of Blue Ctrl’s X-Connect platform into the maritime market in Singapore.
X-Connect is a comprehensive automation and energy management system, developed specifically for the maritime sector. The platform delivers real-time data and insights that enable you to reduce energy consumption, optimize operations and improve vessel performance.

The partnership marks an important milestone for Blue Ctrl AS in Asia.
“As we scale the operation of electric vessels, it is crucial to integrate advanced digital tools. Blue Ctrl’s platform provides us with features that help optimize performance and realize our vision of a safe, smart and efficient maritime future,” says Jan-Viggo Johansen, CEO of marinEV, Yinson GreenTech.
[/quote]
https://bluectrl.io/x-connect-maritime-automation
https://ygt.yinson.com/marine/electric-vessels/
Source: https://www.kystens.no/nyheter/far-drahjelp-til-lansering-i-singapore/2-1-1860029

They are not alone:

Boat builder and technology company flirt with the world’s largest por

New agreement could secure Norwegian Moen Marin and Remota’s debut in the East with remotely controlled patrol boats:

All-electric patrol boat from Moen Marin that can be remotely controlled from shore. Now this boat may be a hit in Singapore. Photo: Moen Marin

The fully electric boats will be developed in collaboration between the Norwegian companies Moen Marin from Trøndelag and Remota from Haugesund.
In addition, they have brought in Cyan Renewables, which is a Singaporean investment company.
The next step is to get customers, which the latter company will help with, among other things.
– It was very positive, and maybe a step into a new market? But initially I attended the largest maritime fairs down here to scout a bit. Get to know the market and meet people who want to know more about Norwegian technology. Because in Singapore they have in many areas come as far in the green shift as here at home, says Toven.
She emphasizes that there are great conditions at the port of Singapore, and that the market is present for a Norwegian company that supplies work vessels.
– Singapore is one of the world’s busiest ports, with around 1,200 boats at any given time. The country has set a goal of becoming a zero-emission port by 2030, which provides great opportunities for green solutions. In addition, I experienced that they are very interested in Norwegian technology in Singapore, and our experience with electrification, she says.
She adds that Moen Marin has recently completed a fast, zero-emission passenger boat with airhull technology from Pascal.
– Then we are in the pilot boat/patrol boat segment where there is great demand for emission-free boats, both in Norway and abroad, she says.

– We will become a small national team

For the Eastern dream and the debut in a new market to succeed, the boat builders at Moen Marin depend on the remote control experts at the Haugesund company Remota.
– Moen Marin is good at building boats. We have gradually become good at remote control from our own remote control centers on land. I think it is exciting to collaborate with Moen to deliver boats to, among other places, the port of Singapore. We will become like a Norwegian maritime national team, says CEO of Remota, Sveinung Soma to Kystens Næringsliv.
The Remota manager strongly believes that remote control of small and large vessels at sea is becoming more and more common.
– It is a fact that we lack seafarers. Some vessels can be remotely controlled from land, like a model boat, and safety will be maintained. I believe that remote control will become more and more relevant in the future, says Soma.
He refers, among other things, to Fjord1’s Lavik-Opedal connection, where a separate remote control center is being established on land in Florø.
The ferries will not be remotely controlled, but much can be controlled from the land facility.
– We have our own control rooms in Aberdeen and Haugesund where we can remotely control ROVs and have also tested remote control of supply vessels and their operations. But as long as there are people on board, complete remote control from shore is not allowed, says Soma.
The largest vessel Remota can remotely control is an 84-meter Østensjø boat.
But now they hope to debut their technology on patrol boats in Singapore under 20 meters.
– We are a young company of only three years. For us, it is about making ourselves visible to the shipping companies and showing what we can do. We are not going to make the seafarers redundant, but to be an additional offer. We hope that it is possible to have an international patrol boat breakthrough in the East with Moen Marin. That would be absolutely incredible, says the Remota manager.

Damian Steinke is a project manager at Moen Marin. The boat he is working on could soon make its debut in Singapore within the year. Photo: Moen Marin.
Source: https://www.kystens.no/nyheter/batbygger-og-teknologiselskap-florter-med-verdens-storste-havn/2-1-1800897

PS> Neither Moen Marin nor Remota have sales offices in Singapore - or in the East in general. A business opportunity for someone with the right knowledge, contacts and positive attitude.

[ombugge]

Tacos anyone?:

Kidnapped as a teen, the Mexican chef behind Papi’s Tacos in Singapore...

[powerabout]

So you see the problem, a typical path of many.
Gets binned from the army at peak of career, about 40yr old then at the mercy of the gov for a job.
Might be a nice guy and intelligent but zero skills and experience for the commercial world.
One week course how to be an entrepreneur, one week finance, etc.
I just spoke to one I know, he was laughing as he said it but they sent him on a one week course on how to be chairman of a board, lol.

Outside of the 3rd world does anyone use ex military to run anything?

[powerabout]

Gov has had autonomous vessels for a few years now.
as for electric vessels, thats all gone quiet after a consortium with Yinson built one..
A bit like LNG tug boats, built one, got the headline, all quiet.
Shows where the priorities really are, got LNG refuelling for ships but nobody wants a LNG tug…expensive, so they keep buying 100% diesels, cheapest solution.
Was never about the environment was it.
LNG buses anyone, would remove a huge amount of pollution, could of done that anytime in the last 50 years same with tugs.

[powerabout]

The other issue with leasehold is Banks wont loan against them when a few decades left
Certainly lots of old factories empty yet the gov wants top dollar to rent them.

Leasehold properties have a definite shelf life; owners should not expect...

[ombugge]

Why is Singapore's public housing considered the best in the world?

[powerabout]

Did you miss the point on why Singapore a supposedly rich country has government housing that costs more than regular housing in most countrys?
And its lease hold so you pay like a western country where you own it and Singapore takes it back.
Huge money spinner for the gov
Not to mention they are happy to swap your pension for a deposit, another huge money maker for the gov but when you sell you have to put that money back with the gov interest rate
Imagine if the property value goes down….and it has plenty of times and you sell….