Monday, October 12, 2015

Cash for Catching Litterbugs? Potential Source of 2nd "Income"!

So recently there was news that people who sabo litterbugs might get rewarded and this programme would help reduce the amount of littering in the neighbourhood.


Now, this itself isn't anything interesting at all. What I find interesting is instead the reaction to this news.

My social media had a flare-up on this with people likening it to "Big Brother" and there was even this piece by Gillian Lim from the Middle Ground (gotta give her credit about info about the increased surveillance already, which makes the Big Brother point absolutely moot) about their dislike about this idea.

While everyone is entitled to their own opinions, I too am entitled to think that their opinions are wrong.

Who the hell cares about "kampung spirit"? If you saw your neighbour stealing, should you have some "kampung spirit" and not say anything about it? If what the person is doing is wrong, why is there a problem reporting it? Littering should not be reported? But bulgary should? Who are you as a mere citizen to play judge and force your morale opinions on what is "more wrong" or "less right" onto me? There's the damn law to do that.

Screw this lame "kampung spirit" shit excuse. OWNSELF CHECK OWNSELF.


Basically, my response is short and sweet: If you are not a criminal, there's nothing to be worried about.

Wait, so you're telling me that you want to litter, but you don't want to get caught?


Who cares if people turn this into a career? How the hell is that a rebuttal? Money incentivizes people? Is this a surprising revelation?

The government gets less revenue from fines if they share the pot with the whistleblower? Er hello? Firstly, most litterbugs do not get caught. Secondly, this doesn't mean that the regular avenues of law enforcement can now close a blind eye to littering. If anything, this would INCREASE total revenue from fines.

People who want to do drugs, they don't live in Singapore.
People who want to own guns, they don't live in Singapore.

But for people who want to litter, well, that's all right! Let's all have the "kampung spirit" and look after our neighbours! After all, who doesn't like to come across some smelly disgusting trash every once in a while? /sarc

First time offenders for small objects get a $300 fine, while bigger objects are $1,000. Repeat offenders? Up to $5,000! JACKPOT!

If I can sabo one of the most detestable groups of people in our society, indirectly make my environment cleaner and make some money out of it, you can bet your sweet ass this is going to be my part-time job whenever I step out of my house.

3 comments:

  1. Hi sorry for the off-topic, but any thoughts on Perennial Holdings' retail bonds? Thanks

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    Replies
    1. Hi Anon,

      Thanks for the heads-up about them. I gave it a quick browse, it looks like they are raising funds for their first JV into Africa together with Shangri-La, so this isn't just a rush to raise debt before the capital markets get stressed.

      They also just successfully redeemed their 2015 notes which were at 6.375% for an amount outstanding of $130mil. The amount that they are raising now is $150mil, which is just slightly more than what they just paid back, so their gearing is not going to be substantially much different from the previous quarter, except that their interest expense is actually lower than with the $130mil notes outstanding.

      I am a shareholder (5% of my portfolio) and I see this bond issue being rather positive for both shareholders and potential bondholders. Money is needed for the JV and issuing debt in their circumstance seems to be a good choice for shareholders.

      If I my investment horizon was short, I would invest in the bond. If my horizon is much longer, I would rather invest in the stock instead.

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    2. I'm not really sure how to analyse...but their debt/ebitda is 49 which seems quite high. How does one analyse the gearing/interest coverage ratio for such a company?

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