Day 8 – Home Prices, Budget 2014


As the interview is coming quite fast, I decided to quickly beef up on my current affairs esp accounting scandals which many have come up recently. Kinda on my toes being in this field now.

Singapore home prices may drop 10-15%, says DBS CEO

Drop is due to government cooling measures & mortgage curbs implemented to dampen the property market.

Through the Total Debt Servicing Ratio framework, 30-35% reduction in mortgage applications.

StanChart Singapore to get new CEO

Ray Ferguson –> Neeraj Swaroop

Channel NewsAsia to air series of programmes on Budget 2014

OMGOMGOMG Budget 2014’s coming out tmr! & i’ll be having tuition. .. I’d prefer watching live thoooo. I am so gonna catch the CNA shows!


Day 8 -Konfrontasi

Konfrontasi – Bombing of Mac Donald House in 1965

Bombing of Macdonald House, a famous landmark in Singapore on 10 March 1965. Bombing was not very far off from Istana. Considered the most deadly bomb. 1963 – series of explosions mark the beginning of konfrontasi but because bombing of Macdonalds was at the heart of the city, it was more remembered and therefore described as most devastating terrorist attack.

Saboteurs sent from Indonesia under the orders of Sukarno. Sukarno’s intention was to spread chaos across Sg as part of confrontations against federation of M’sia. Aft 2nd world war, Sg was subsumed under Malaya when British decided to separate us. Merger in New Malaysia offered best hope for M’sia. Sg really intended for true political union via access to their market. Sg + Malaya + Sabah + Sarawak = New Federation of Malaysia. M’sia PM Tengku Abdul Rahman led the merger. But not everyone was happy. Formation disrupted Indon’s plans as it claims that the formation represents a British colonial plot to dominate SEA. Political differences fuelled growing animosity. Indon regional giant. Tengku Abdul Rahman issued a stark warning but it did not stop Sukarno who thought with his large empire in SEA, he could make the forward movement. He was also battling from within – threatened by Indon army. Nightmare – old & sick + military gaining power day by day. So what better target than M’sia. Sukarno needed a distraction to crush M’sia.

Commercial links severed between M’sia & Indon. Threatened 15,000 jobs in Sg. Worst – Sukarno launched plan to disrupt M’sia through campaign of sabotage. President Sukarno – spread fear & destabilize new economy. Bombings became more frequent. Response – vigilante corp + sg infantry regimen + trained volunteers defended Sg. Educated on konfrontasi & how to counter terrorism.

Life under sukarno. Fervent nationalism. Vested colonial influence. This encouraged the spread of a sense of anti-colonialism. Leaders of m’sian federation fought back.

Sukarno’s Borneo campaign (direct attack into sabah & sarawak) failed – british concentrated troops in sabah + indon deployed marines & commandos so there was intense fighting w good contenders.

Indon kko marines, osman & harun, arrived in sg, armed w explosives. Mission Рbomb & cause as much destruction as possible. O & H selected perfect target. Mcdonald house was an iconic building Рhigh rise, high class design. Considered a prestigious estate in the city & its prominence made it the target. Bomb was placed with deadly accuracy as it blasted out all support pillars from ground resulting in maximum impact.

O & H laid low then their boat hit a rock & smashed into pieces. Stranded. But they were rescued by Sg Maritime Police & taken back to island for questioning. There were calm & became talkative after a while. Osman bin Haji Mohamed Ali & Harun Said. They were Indon commandos. Outcome of trial will push 2 nations to the brink of confrontation.

Then SG agreed to a political divorce w M’sia. Sukarno celebrated. 30 sept 1965 troops loyal to communist indon fell to Military Group under the helm of Suharto. Suharto waited patiently while Sukarno took power. Suharto’s moment to seize power had come. Had crushed communists & sukarno pushed to the sidelines. Country inherited by Suharto was crippled by poverty & famine. New govt started fresh chapter. 11 08 1996 signed peace treaty w KL & konfrontasi brought to an end. 1967 thai philp sg indon m’sia ASEAN formed. Major step to regional cooperation & stronger economical ties. Sg considered releasing them aft taking into account plea of indon govt. SR Nathan took part in nego – cannot release due to loss of lives & injuries. Despite pleas by TAR & Suharto, Sg stood firm.

1968 they were hanged at changi prison & bodies flown back to Indon. 10,000 gathered to give them heroes’ welcome. Anger swelled. Sg embassy attacked & ransacked. Riots occurred. Diplomatic relations plummeted to rock bottom. Suharto swore to punish LKY. June 1970, Kun Choy appointed the new Sg Ambassador. His mission was to heal wound from konfrontation. Bonded with Suharto’s circles. Diplomatic maneuvering paid off. 1973 PM lee made first visit. No diplomatic expense were spared. Greeted by army. Despite diplomatic gestures, LKY knew more needs to be done. Bold plan to go to kaliman hero cemetery & pay respects to the 2 men. LKY put flowers. Tears & leaders were moved. It was important. Press were not told in advance that this was gonna happen. Act of sprinkling flowers. Indons felt relieved that it had been done. Important gesture as Indon place a lot of emphasis on form. So he had paid his respects to the dead. End of long diplomatic stand off. Start of new relations between Sg & Indon. Bond became close. Bilateral ties strengthened. Stood the test of time.

Pardon any broken English. This was typed in real time as I was watching. Finally knew what caused the separation between Singapore & Malaya. More interested to find out more about what LKY did during Sg’s early independence now. Oh just recalled what audit prof said earlier today about our local politics scene which I listened with disgust. Disappointed as to why it became like this. I mean.. Ethics literally doesn’t exist because the one who initiated in learning about ethics is not even abiding by it. Alright. I gotta go. Will be back for accounting scandals! & more current affairs.

Day 7 – Accounting Scandals

Hello, it definitely has been a long time. Well I did mention this could be a flop but in any case, I am here to revive it after losing interest ever since my Kuantan trip plans were a flop. This goes under self.


The thing is.. no one was interested in the activities that was planned though I figured it would be the best way to make full use of our vacation there. I have no idea why they are just satisfied by sleeping in the hotel throughout. I mean. There are so many things to explore about the resort, so many new things to witness and so many people to interact and they’re just satisfied with the bed. How do ¬†I even approach such unmotivated, empty people. Well anyway, I went ahead with my own goals of the vacation. I managed to view the sunrise which only came at about 7am. And I woke up at 5am? Haha. Well I managed to do some French in the cooling breeze and with a beautiful scenery and while hearing the sea breaking against the shore. Something I could not get here. I can hear crickets but it’s not the same. So this was the best I could get out of it. Not following my plans wasn’t the worst thing..

Adapting my plans was worse. So while we were on our way back, I expected to be home early since I’ve got a lot of work to do. Butt they just suddenly decided to stop by a famous lake and just suddenly decide to take the cruise when they totally gave no care about the Firefly Cruise I have planned. I was very disappointed at how they did not even acknowledge my effort to plan (my time is definitely more valuable than theirs. time = $), my agreement to taking the impromptu cruise, or my suggestions about the package of the cruise. What’s wrong with them? I’m sure it’s not me because I’m sure it is a basic human right to consider others’ feelings. Well that’s over and no one did anything. It was just left there. And somehow people around me just don’t get it. They don’t have what I need. Or rather, they don’t know or don’t have the means to help or assist me so they just kept quiet and just hope my feelings go away. Time heals right. .. Is it that rare to find people who genuinely care?

Accounting Scandals

For a breadth of knowledge, I’ll be working on accounting scandals’ causes soon..

Glad to keep in touch with me. Will see you again later alright.