Arnil Duyaguit

On Profiles in Risk - Ep. 605, I chat with Mang-Git Ng, Founder & CEO at Anvil Foundry, the fastest way to build software for documents. They provide developers, product teams, and non-technical people the tools to take their existing documents and convert them into programmable, online, simple, guided workflows. They offer PDF Generation, PDF Filling, e-signature, and more. LINK TO THE SHOW IN THE FIRST COMMENT! #Insurance #Insurtech #ProfilesInRisk

23

2 Comments

“A social media post by tech magnate Elon Musk declaring that Singapore is “going extinct” has struck a nerve in the city state, where demographic challenges including record-low fertility rates are testing its policies to sustain economic growth. On Thursday, Musk retweeted a user’s post referring to Singapore’s use of robots, which were “stepping in where manpower is falling short”. The user also noted that by 2030, nearly one in four Singaporeans would be over 65. In his retweet, Musk added that “Singapore (and many other countries) are going extinct”. In a Reddit, Inc. thread about the post, which has garnered more than 1,500 likes, netizens debated the city state’s use of immigration and how this would affect Singapore’s national identity. “In 200 years the Singaporeans today will be all new immigrants of today. Like we are from immigrants 200 years ago … Singaporeans will always be here. The national identity will evolve. Just hopefully still remain as [an] independent Singapore and not under another country as a vassal or puppet state,” said one user. Singapore uses immigration to moderate the impact of ageing and low birth rates on the citizen population, according to the report, which also noted that the city state takes in a carefully controlled number of permanent residents and new citizens each year. New citizenships are granted to those who can integrate and contribute to Singapore, and “are committed to making Singapore their home”, the report added. Sociologist Tan Ern Ser from the National University of Singapore noted that supplementing the population with immigration while encouraging fertility is sustainable to the extent that it can maintain a vibrant economy attractive to Singaporeans and to immigrants who could contribute to the economy, without displacing citizens. “To encourage fertility and immigration, we need people to be optimistic and hopeful, and have a life. This can be quite a tall order, with the way things are in the world today. But Singapore needs to focus on not only staying alive, but also living well,” he said.”

2

“In Singapore, it’s not unusual for total strangers to ask, “Have you eaten yet?” A greeting akin to “Good morning,” it invariably leads to follow-up questions. What did you eat? Where did you eat it? Was it good? Greeters reserve the right to judge your responses and offer advice, solicited or otherwise, on where you should eat next. Locals will often joke that gastronomic opinions can make (and break) relationships and that eating is a national pastime. And why wouldn’t it be? In a nexus of colliding cultures—a place where Malays, Indians, Chinese and Europeans have brushed shoulders and shared meals for centuries—the mix of flavors coming out of kitchens in this country is enough to make you believe in world peace. While Michelin stars spangle Singapore’s restaurant scene, to truly understand the city’s relationship with food, you have to venture to the hawker centers. A core aspect of daily life, hawker centers sprang up in numbers during the 1970s, built by authorities looking to sanitize and formalize the city’s street-food scene. Today, 121 government-run hawker centers feature food stalls that specialize in dishes from the country’s various ethnic groups. In one of the world’s most expensive cities, hawker dishes are shockingly cheap: A full meal can cost as little as $3. Over the course of many visits to Singapore, I’ve fallen in love with these places—and with the scavenger hunts to find meals I’ll never forget: delicate bowls of laksa noodle soup, where brisk lashes of heat interrupt addictive swirls of umami; impossibly flaky roti prata dipped in curry; the beautiful simplicity of an immaculately roasted duck leg. In a futuristic and at times sterile city, hawker centers throw back to the past and offer a rare glimpse of something human in scale. To an outsider like me, sitting at a table amid the din of the lunch-hour rush can feel like glimpsing the city’s soul through all the concrete and glitz. So I’ve been alarmed in recent years to hear about the supposed demise of hawker centers. Would-be hawkers have to bid for stalls from the government, and rents are climbing. An upwardly mobile generation doesn’t want to take over from their parents. On a recent trip to Singapore, I enlisted my brother, who lives there, and as we ate our way across the city, we searched for signs of life—and hopefully a peek into what the future holds.”

2

💥 Still in the midst of processing all the insights from the Singapore Fintech Festival, but here's one key takeaway on the talent front - 🚀 As GenAI reshapes industries, a new type of professional is in demand—Techno Functional Collaborators who blend: 1) Technical Expertise – A strong foundation in the advanced technologies, such as AI, data analytics, and cloud solutions, allows techno-functional collaborators to understand, build, and scale solutions effectively. 2) Business Acumen – Beyond technical know-how, these professionals have a solid grasp of business strategy, market trends, and industry needs. They can translate data-driven insights into actionable strategies that align with broader business goals, making their contributions directly impactful to the bottom line. 3) User Adoption – Perhaps the most critical aspect, techno-functional collaborators excel at bridging the gap between technical solutions and real-world application. By engaging stakeholders, training teams, and embedding solutions into day-to-day operations, they ensure that technology is not only implemented but also widely adopted, maximizing value across the organization. These versatile experts bridge tech and business, turning innovation into true organizational value. 💡 #TechTalent #SingaporeFintechFestival

18

💰How much income is enough?💡   💰What’s your plan after you hit your retirement goal?💡 My brother and I always talk about early retirement. We went through the exact numbers to retire during dinner yesterday. 🔴 To me, I think having a monthly passive income of HK$40k to 60k (SGD 6.5k to 8k) is enough which means saving around HK$6-8 Million and put in my investment portfolio. 🔴 To my surprise, my brother said he needed to save at least HK$20 million to officially retire. (SGD 4 million) Assuming I earn around HK$1 million a year (SGD 180k), I still need to save at least 40 years to hit my brother’s retirement goals (50% saving rate) By that time, I would be over 65 years!! That is not early retirement! 💰Once I hit my retirement income, I plan to stay in recruitment but probably focus more on giving back to education, coaching and the society. 🌟How about you? 🌟What do you plan to do after you retire? 🌟What kind of work gives you meaning? 🌟At what age do you plan to retire? 🌟How much do you need to start considering early retirement?

111

32 Comments

I've been collecting #Malaysia #digital bank apps, especially those where you can register via #ekyc directly. Not gonna name names, but have started closing down those accounts recently. Not because of the benefits, digibank benefits are great. but ❌ the app is rather unstable (primary reason for closing account) - biometrics failure, can't transfer money etc. ❌ poor #ux. the following are mandatory these days ✅ able to use app without logging in and registering to view latest promotions and deals ✅ referals (and referral offers) don't exist or are hidden in some menu ✅ navigation between deposits and deposit transactions are just weird. the bare minimum is. - click on account - see all transactions on that account (some does this so awkwardly). better ones have running totals after a (-/+) transactions. the best shows daily interest transactions. - don't see the point of savings pot or pocket if the benefits are all the same as there's currently no restrictions like a fixed deposit. ❌ stuck in #mvpcurse - no new capabilities, or need to wait several quarters. not just for new capabilities, but for awkward bugs like the touch button area being too small to click on, to be fixed. this is a sign of budget issue where funding is only enough to start, and the bug fix and escalating app run cost eating into the new feature backlog. it's 2024, companies should realize by now that, apps means $$$ or it'll be unstable. when the intent is to target b40 segment, the #mobile #fragmentation get worse, including out of support #OS. ❌ hardly anyone offering loans except for 1 so far that I know off. Given this is targeting lower income, #loans are important. ❌ one of the best benefits digibank app, unfortunately has the worse stability. to add salt to wound, they don't have #marketing funds. so hardly anyone knows their deals ( yah they don't have referral capabilities either ). one bank has the funding but the #ads somehow leads to nowhere! ❌ those that have #ewallets have room to improve in better integration between them. More importantly, defining the purpose of the #ewallet vs bank app. it's a hot mess. Not to mention high cost of maintaining both apps. for now wallets are copying #alipay and #wechat into a day to day utility #app and some #grocery, #telco purchasing sans the "in app development" and #widget capability. (that's a different ball game altogether. both $$$ and #technology needs). ✅ one bank has #job offer feature which I find really cute.. what have I tried - #bankislam #beu - #alrahji #rizer - #gxb (grab bank) - #aeonbank pending to try - #hongleong's ewallet - #boostbank other traditional banks - #maybank's #mae - #cimb #octo - #publicbank #mypb - #alliancebank other wallets - #grab - #tng hint ✅ app store reviews are pretty accurate.

44

8 Comments

“It is not unusual for tourists these days to complain about how Singapore is an expensive place to visit. Recently, an American TikTok user lamented that she spent more than US$9,000 on a five-day trip to Singapore, including US$1,200 a night for her hotel room. Her post triggered a wave of criticism from netizens, who pointed out that there were a lot of cheaper alternatives. Her post may have touched a nerve, but it highlights the perception of the city as an overpriced destination. A hotel room in Singapore now costs on average S$280 (US$211) per night, based on Singapore Tourism Board data from the first half of 2024. The average hotel room rate increased by 32 per cent compared to the same period of 2019. With accommodation costs climbing, Singapore risks pricing out budget-conscious travellers. Although the cost of other items typically purchased by tourists have also increased, affordable options remain for many of these including food, transport and attractions. Therefore, steep hotel rates may prove to be the main impediment to fully recovering Singapore’s tourism sector. Singapore has announced a series of big investments this year to help its tourism sector amid intensifying global competition. For example, Singapore will get its own Porsche AG Experience Centre near Changi Airport by 2027 and plans are also in place for a four-hectare waterfront wellness enclave at the Marina South Coastal site. The new attractions may be successful at luring more high-end tourists and further differentiating Singapore from less expensive destinations. However, Singapore also needs to attract budget or middle-tier tourists to generate the volumes required to support the tourism sector’s overall ecosystem and help fill the significantly larger Changi Airport that will emerge once Terminal 5 opens next decade.”

6

I have been thoroughly disappointed with the service from AIA singapore For the past three months, I have been diligently following up with my agent regarding a crucial insurance matter, but for the last two months, I’ve received no response. This is not just a lapse in customer service; it raises serious concerns about AIA’s business ethics and transparency. Their silence and lack of accountability suggest a disturbing pattern. The way they handle customer inquiries and concerns feels misleading and even scammy, which is highly troubling for a company in the insurance industry. Customers place their trust in insurance providers to safeguard their interests, yet AIA’s neglect and unresponsiveness undermine this trust. It’s unacceptable for a company of their size and reputation to fail so significantly in maintaining basic client relationships and providing clear, honest communication. This experience has made it difficult to have confidence in AIA’s products and promises. Customers deserve better, and it’s critical that AIA addresses these issues urgently to restore any semblance of trust. AIA Singapore Monetary Authority of Singapore (MAS) #CustomerService #AIA #Professionalism #CustomerExperience #InsuranceScam #BusinessEthics

20

1 Comment

Rental scams in Singapore are becoming more common, and it's important to exercise caution. According to recent reports, at least 389 individuals lost a staggering $2.4 million to fake property agents between July 2023 and January 2024. To carry out their scams, fraudulent property agents post fake listings on popular platforms like Facebook, Carousell, and rental sites. They impersonate registered property agents by using their credentials like CEA registration number, business cards, and property photos/videos. Victims are pressured into paying deposits to secure viewings or rentals, and in some cases, meet "personal assistants" who facilitate viewings. However, scammers become uncontactable after receiving the money. To avoid becoming a victim, it's important to exercise due diligence. Verify if the phone number in the listing belongs to a CEA-registered agent by checking the CEA Public Register. Contact the agent's agency directly from trusted sources to verify the listing's authenticity. Property agents cannot demand payments for viewings, and rental deposits must be paid to the landlord's bank account, not personal accounts or PayNow. Remember, reporting fraudulent listings to the respective platforms and authorities can help prevent others from falling victim to these sophisticated rental scams. Stay vigilant and stay safe. https://lnkd.in/g9dkUiGi

1

Dear Lee Hsien Loong, Thanks for your many years serving Singapore. The first time I saw you in-person was in a talk that you delivered in NTU on the role of undergraduates. That was 3 decades ago. At that time, you mentioned that in terms of GNP-PPP, we were 9th. A quick check shows that we are now in the top 3. You also mentioned that maintaining our position as a regional hub in telecommunications, sea and air transport was our way of responding to the competition. Today, we are still at the top position in all those verticals. The great work you and your team have done is evident. Your speech also touched on the high expectations of the population and you were lamenting how people were more focused on COE rather than issues "of life and death importance". Not so long ago, during COVID-19, when the rest of the world was scavenging for vaccines, you and your team were literally 'begging' us to go for vaccinations. When the rest of the world finally got theirs, their people were rushing and queueing for hours just to get vaccinated with ANY vaccine available to them; yet here we were, deliberating on the 'best' type of vaccine, the most conducive vaccination centres (with aircons), centres with the most free gifts, and most importantly, finding an auspicious date & time for the vaccination to mitigate the minute chance of any potential complications. Kindly allow me to say a word of fairness, we were not being overly demanding or picky, it was just that you had covered most of the ground, and what was left for us were only issues related to convenience and comfort, which were the only aspects that we could further improve on. 🤷‍♀️ From another perspective, wasn't this yet another testament of the great work that you and your team had done? 💪 What we had, and enjoyed during COVID-19, contrasting it with what the rest of the world experienced, irradiated your team's undivulged foresight, meticulous planning, and perfect execution. These magnificent outcomes could only be delivered by A-Players and an A-Team. Over the past 3 decades, I have literally watched you and your team's hairs turn grey, including Teo Chee Hean & Ng Eng Hen (my wife refers to them as "Yandao" and "Garang"). In the next few decades, while we watch Lawrence Wong and his team's hairs turn grey, I am sure we can continue to focus on things which are of utmost importance, such as Linkpoints, KrisFlyer miles, and their respective expiry dates. TIA. 🙏 🫡 #Singapore #PrimeMinister #LeeHsienLoong #LawrenceWong

2

Learn more efficient way to connect with my client The training conducted by The Lights Frontier,Huishan Lee 李慧珊 (Financial Leader) and Julian Leong was very effective and applicable to current clients and future clients in this industry to address their needs and cater accordingly. It was a fruitful training as we also get to learn from my other colleagues Lemon Lee 李诗璇 ,Sureka Karthikeyan and brainstorm how to tackle the situation. Looking forward to more training session so that I can learn more and apply 💪💪 #training #constantlylearning

5

Billions of dollars are left unattended by many who failed to do their nominations. Things to take note, if: spouse - 100% (what happens if spouse dies too?) child - X% (only receive when they turn 18, till then, how they survive? who takes care of them?) caretaker, if any - Y% (how much is enough?) grandchild? (can include, or no?) Charity/waqaf? (how to go about?) Best to sit down and discuss with an estate planner like myself, to carefully draft out the numbers, so everyone gets the share deemed appropriate. Let's together do our part to create a better future for everyone in the community. E.

3

"You end up taking more risks by taking no risks." - Jamson Chia Sounds odd, right? But it's true. Playing it safe is risky. No risks = No growth No growth = Getting left behind I left engineering for finance. Risky? Yes. Worth it? Absolutely. Take smart risks: ➡️ Try new things ➡️ Learn always ➡️ Step out of comfort zones Life rewards the brave. Be brave. Take that leap. 🚀 💯 #StrategicAlliance #100PercentMDRT #BetterFinancialFuture

42

8 Comments

Job sharing is a kind of work arrangement that allows two or more part-time employees to share the responsibilities of a single full-time job. One company that practises job sharing told CNA that their staff retention rate has improved, though they have had to provide more laptops for more employees. Hmm..so it is replacing one full time staff with 2-3 part timers? I am very curious as to how this work in practice - 3 workers to share 1 email and divide up the work day? It might be a supervisory nightmare as you have a lot more ppl to manage and i am assume these folks come and go as per contract staff? Are 3 heads (bodies) really better than one? #jobsharing #jobs #employment #rogerng #lbfalumni https://lnkd.in/ged48-sj

91

58 Comments

Why Does My Candidate Ghost Me? In Singapore’s competitive job market, recruiters are increasingly dealing with “ghosting” from candidates who drop out of the process unexpectedly. Here’s why it happens and how recruiters can tackle it effectively: Mismatch in Expectations Candidates may ghost when job responsibilities or pay range differ from what they expected. Tip: Be transparent from the start about the role and compensation. Lack of Engagement Candidates can lose interest if they don’t feel connected to the process. Tip: Keep communication active and personalized to maintain engagement. Better Offers Elsewhere In a fast-paced market, candidates may get faster or more attractive offers. Tip: Move quickly through hiring stages to secure top talent before competitors. At Career Story, we support recruiters in managing the candidate journey to reduce ghosting, from setting clear expectations to proactive communication.   #RecruitmentTips #SingaporeHiring #CandidateGhosting #CareerStory #TalentAcquisition

2

An interesting situation arose while working on the Singapore public housing data set. As our media outlets report the latest record breaking public resale transactions ( SGD 1.7 million ) , I realised this record breaking sale was not showing up in the data set we get from the data.gov.sg. This isn’t a complaint. Rather, I want to use this opportunity to talk about why it is necessary for a data analyst to fully understand how the data they have is created or captured, and how it affects their analysis. I have seen analysts who believe knowing the data creation and capture process is the responsibility of software engineers or data engineers, and data analysts just need to analyse data as they are. I believe this is a very wrong perspective and definition of roles, akin to a restaurant chef only wanting to cook, and isn’t concerned about the freshness and quality of the ingredients he has in his kitchen. Back to the public housing data situation. After much research and speaking to a few domain experts, here is my take. The data from data.gov.sg is most probably as updated as possible. The transactions reported by our media could possibly be from agents who are eager to release the latest record breaking transaction to the public, while it still takes some time for this transaction to be officially lodged into our government systems. I am assuming this is why there is a lag between what our media reports and the transactions in the data from data.gov.sg. To confirm this hypothesis, I will continue to monitor to see when this record breaking transaction will appear in the data from data.gov.sg. In a normal corporate setting, I can easily check with my upstream engineers how certain data points are created. And in this situation, I will consider reaching out to HDB directly if I don’t see this transaction in the coming weeks. Overall, I still have my scepticism of this data set, but this is because I believe the role of a data analyst is to be sceptical of every data set we receive. It is my job to check the data and assess its quality to the best of my ability, regardless of how I get this data set. And for people who take time to read my analyses, it is basic decency for me to do such data quality checks, and to flag out any caveats or any potential errors that I see from the data set that I am analysing.

33

4 Comments

As I dive into our Singapore public housing resale market, I am seeing some interesting data patterns. As mentioned previously - https://lnkd.in/gK5cGW7i, some Singapore media outlets have reported some transactions I could not find in data sets released on data.gov.sg. One transaction was the record-breaking SGD 1.73 million transaction reported by Mothership - https://lnkd.in/g_jE2jXD . Granted Mothership isn't a good official news outlet, our official media outlet, The Straits Times, also reported our July public housing resale transactions as follows - https://lnkd.in/gJ6mb9aM . Interestingly, their highest price transactions only covered SGD 1.5 million-ish transactions for July, with no mention of any SGD 1.73 million dollar transaction. Wearing my analyst hat with no way to clarify the data, here are my thoughts: - The official data is accurate, and Straits Times is reporting them as they are. Like I said earlier, earnest property agents could be releasing these latest record-breaking public home transactions before they are officially lodged by our government agencies. This should mean that in lieu time, this 1.73 million transaction should someday surface. - The other possibility is the data on data.gov.sg isn’t updated, and Straits Times is using a non-updated data set as I ( my dashboard also found 120 million-dollar and above public home transactions for July 2024). However, I did find that The Straits Times reported 96 million dollar transactions for June 2024, while I only got 95 such transactions from data.gov.sg. - Maybe this missing and unconfirmed 1.73 million dollar transaction happened in June 2024? Mothership’s July article did suggest that the 1.73 million dollar transaction “took place” on 26th June 2024, but isn’t officially registered into the data.gov.sg data set yet, maybe due to administrative reasons. This said, I am curious why The Straits Times’ numbers differ from mine then.  - Could there be careless issues with the data? Definitely ! Organisations have shown us their ability to have data hiccups, such as https://lnkd.in/gJfuRvBi from the UK health agency, and https://lnkd.in/gDA4DZ7X from a famous academic paper. Before anyone asks, I am doing a daily API pull from data.gov.sg, and showing them as they are. Any backfilling of transactions within the past 6 months or within 2024 will be reflected in my dashboards. I have also reached out to HDB to clarify about this missing data, and am waiting for their reply. Still think data is sexy? These are the tasks we have to do as data professionals. This is because data is created by human processes, and to err is human.

21

2 Comments