Kelvin Khoo Online

Even after leaving the newspaper for public relations last year, he retained a voracious appetite for politics and current affairs.

Yesterday, just two days short of his 41st birthday, Mr Toh died in hospital after suffering a massive heart attack at home.

He is survived by his wife of three years, Linda. The couple, who had no children, had birthdays one day apart and planned to celebrate her birthday today.

Mr Toh, a Malaysian, started his journalism career at The Straits Times almost 20 years ago, reporting on financial news.

He left to work as an analyst before returning to BT as its Malaysia correspondent. He was later made the paper’s deputy news editor here.

His sudden death was a shock to his family and friends.

BT senior correspondent Ven Sreenivasan, who knew him for over a decade, described Mr Toh as ‘easily one of the nicest people around’.

‘He was warm and approachable and one of those genuinely friendly people,’ he said. ‘He was very laid back and easy to talk to. He was very knowledgeable about Malaysian politics and we used to talk about it all the time.’

A close friend of nearly two decades, former BT news editor Quak Hiang Whai said: ‘Other men may talk about football when they meet but, with Eddie, it was always politics and global issues. Even after he left BT, we would spend our time doing a postmortem of the newspapers when we met.’

Mr Vince Chong, Beijing correspondent with The Straits Times, said he was in Singapore last week and had dinner with Mr Toh at Clarke Quay.

‘He was his usual jovial self, joking about politics and catching up on the gossip in the corporate world,’ he said.

At about 3pm yesterday, Mr Toh complained of discomfort and began to vomit.

With the help of a neighbour, his wife took him to Tan Tock Seng Hospital. By then, he was unconscious.

Mr Quak, who was among the friends and colleagues who went to the hospital as soon as they heard the news, said: ‘I kept whispering in his ear, telling him we should both return to BT and we would stir up a storm together - anything that would excite him. I felt so helpless.’

But Mr Toh slipped away.

BT editor Alvin Tay, who had also gone to the hospital, said: ‘I was shocked when I heard the news. He seemed quite fit when he was with BT.’

He remembered Mr Toh representing the paper at one of the Singapore Exchange’s Bull Runs in the Central Business District.

‘He was also affectionately known in BT as the newspaper’s CEO, or chief entertainment officer, mainly for chairing the organising committees for several of our fun events.

‘I was disappointed when he decided to quit the paper last year. To me, it was a loss to journalism.’

The demonstration, part of Johnnie Walker’s responsible drinking campaign, saw the retired Finn execute burnouts and spins in a two-hour performance that had onlookers reaching for their ear-plugs and snapping away with their cameras.

His machine for the day was McLaren’s car from last season - the MP4-22.

The SingTel Singapore Grand Prix - the world’s first Formula One street race to be held at night - will flag off on Sept 28.

Now Transport Minister Raymond Lim wants to know if it can be yes.

He has asked the Land Transport Authority (LTA) to see if motorists can get back cash when they scrap their cars.

By scrutinising this sacred cow, he is showing how serious he is about finding ways to persuade people to give up their cars.

He hopes that some who get their money back - and the amount could run to thousands of dollars per motorist - would choose not to buy a new car and switch to public transport instead.

Since 2003, around 80,000 passenger cars have been scrapped each year before turning 10 years old, with the Government refunding the so-called unused portions of the Additional Registration Fee and Certificate of Entitlement.

People have been known to scrap cars as new as two years old, though most do so only after the vehicles turn five years old.

At present, the refunds come as paper rebates which can be used only to buy another vehicle.

Given the number of vehicles scrapped and the youthfulness of many of the vehicles, a change in policy could see the Government refunding $2 billion each year.

Mr Lim said that the LTA would work with the Finance Ministry to see if the change could be made.

‘You have to look at our overall objective - to have a decisive shift towards public transport,’ he said. ‘So we should look at whether we can have any incentive to help people make the shift.’

He was speaking at the launch of the Land Transport Masterplan, a 101-page paper outlining the Land Transport Review which he announced in January. It called for an overhaul of the bus and train systems as well as major changes aimed at car owners.

‘As I said when we launched the Land Transport Review, we will leave no stone unturned,’ he said. ‘So this is one more stone that I’m turning up to have a look at, to see if it can be done.’

Motorists have long asked for rebates to be paid in cash, but the answer always been no. The reason usually given: The rebate is a discount on taxes paid upfront and not meant as a cash refund.

Mr Lim expects a decision on the change within six months.

Among motorists who welcomed the possible change was engineer Shreejit Changaroth, 51, who said: ‘I know people with old cars who are not scrapping them simply because they can’t use the rebates for anything else but to buy another car.’

Motor traders however, may lose a source of income, because they rake in a significant amount from trading the rebates between those who scrap and those who buy cars.

Mr Raymond Tang, managing director of used car trader Yong Lee Seng, said that this has been a ‘business opportunity’ for traders for years.

Singapore Vehicle Traders Association president Neo Nam Heng said that cash rebates would be ‘fair to car owners’, but the impact on traders would be clear only when details are out.

christan@sph.com.sg

So I headed straight for Saybons when I heard it had launched a new series of savoury crepes.

I have been a fan of Cordon Bleu-trained Daphane Loke’s little kiosk at Plaza Singapura since it opened last year. The smooth seafood bisque, zingy tomato soup and aromatic mushroom soup never fail to satisfy.

Now the 28-year-old’s new savoury crepes might well eclipse the soups. The thin, stretchy, eggy pancakes manage to be crisp and tender at the same time, and come in three variations: chicken ham and cheese ($4.20), mushroom and cheese ($4.50) and chicken ham and mushroom ($4.50).

I’m not wild about chicken ham but the crepes stuffed with them are pleasant enough.

My favourite is the mushroom and cheese (far right), filled with a sharp, shredded cheddar and sauteed portobello and button mushrooms.

Be quick, though, because the mushroom filling is popular and the stall sometimes runs out of it before closing time.

No forks or knives are needed to eat a Saybons crepe - it comes in a sturdy triangular cardboard sleeve.

But don’t just eat on the run. Savour the hot crepe, so delightfully savoury with melted cheese and earthy mushrooms. The crisp edges of the pancake are great to nibble on too.

For dessert, there is an array of sweet crepes on offer, with the option of creating your own.

Try a combination of crepe with apple, slivered almonds and melted dark chocolate ($4.10).

The chunky applesauce, made mainly with Fuji apples, is very lightly sweetened and caramelised. It seems a strange pairing with the dark Valrhona chocolate but it works so well.

Rum & Raisin Banana ($4.90) is delicious also. The banana slices and rum are flambeed before your eyes before being wrapped up in a hot crepe.

For those not willing to brave the surfeit of teen spirit in Plaza Singapura for a crepe fix, head to Saybons’ new outlet in Phillip Street.

But as with all things made on the spot, eat the crepes up fast. Wait too long and they lose their va-va-voom.

17 Phillip Street, 01-01/02 Grand Building

Open: 10am to 4pm, Monday to Friday

Rating: ****

Rentals will rise with inflation while an annuity is more or less fixed and will not keep up with inflation.

Being a landlord, however, also has its minuses. As the property gets older, repairs and maintenance will get more costly. Also, in a recession or if supply exceeds demand, rentals will fall.

What would you advise?
 

A IN RECENT months, property investments and annuities have generated much debate among Singaporeans.

Improper management of these financial vehicles could have an adverse impact on your retirement plans, so let us look at the key characteristics of these two asset classes.

Property investments are popular because of their potential capital gains. In a boom cycle, they offer attractive capital appreciation. In contrast, annuity products have no potential for capital gains.

On the income side, rentals fluctuate as demand and supply conditions change. Thus, property investments may not be able to provide the constant and predictable cash flow that annuities can.

This uncertainty could be painful for retirees who rely solely on rentals for their retirement income. Furthermore, repairs and maintenance are unavoidable and potentially troublesome.

The most attractive benefit of an annuity is that you have a guaranteed stream of regular income throughout your lifetime. You need not worry about outliving your savings. This makes annuities an apt choice for many retirees.

Also, the introduction of the National Lifelong Income Scheme, or CPF Life, which is essentially an annuity scheme, allows you to explore more ways of generating a retirement income, as you can pledge your property towards the Minimum Sum.

If you sell a property that has been pledged, the money from the sale of the property would be returned to your Minimum Sum. This could then be used for an additional stream of income for life.

In your case, this certainly sounds like good news. You can keep your pledged property for rental income and enjoy any market upside, while the monthly payout from the Lifelong Income scheme covers your basic living needs.

When planning for retirement, you must first ensure that your minimum cost of living over your lifetime is provided for - in this case, with an annuity product. Indeed, the CPF Board has effectively addressed the basic retirement needs of many Singaporeans with the Lifelong Income scheme.

You can supplement your income by investing in other asset classes, such as pension endowments, real estate investment trusts or dividend-paying stocks. You can even take up an additional private annuity.

A well-diversified retirement portfolio will provide a staggered stream of income from various sources as you get older. As it is becoming increasingly common for people to have more than one source of retirement income, it is important to manage all these financial instruments properly.

I would advise you to engage a professional financial planner to work out your retirement expense cash flow and assess how your annuity or rental income can complement your current retirement portfolio as a whole. Do this before you decide to sell your property, buy a private annuity or choose a CPF Life option.

Xanne Leo Sen Yun
Associate Manager
New Independent

On March 22, the 37-year-old manager parked his Nissan Sunny in an open carpark behind Block 259 in Yishun during a rainstorm.

The car’s windscreen was hit by a lightning bolt as he was about to open the door, said Mr Manimaran.

‘My eyes were blinded for a few seconds before I noticed small glass pieces on my dashboard and cracks on my windscreen.’

His maid, who was some distance away in the void deck, saw what happened.

His car’s insurer, AXA Insurance, agreed to pay the $400 in repairs and towing charges. Spokesman Christina Wee said that in her company’s experience, such ‘freak’ cases occur once every two to three years.

The Automobile Association of Singapore (AA) noted that insurance companies may not always pay for any damage since lightning strikes are deemed to be ‘acts of God’. These include flooding and hailstone showers. The latter actually occurred in Singapore last Thursday.

AA’s spokesman added that staying in a car during a thunderstorm was still safer than being out in the open since cars are well insulated.

When asked to comment on why the windscreen cracked, Professor Sanjib Panda from the National University of Singapore’s department of electrical and computer engineering, sketched two possible scenarios.

One, when the bolt hit the windscreen, it left cracks as it tried to move downwards. Two, the intense heat generated on impact caused the windscreen to crack.

Mr Manimaran is more wary now. ‘I don’t feel so safe any more in an open carpark.’

Prof Jayakumar, however, continues as Deputy Prime Minister and Coordinating Minister for National Security. He will also oversee foreign policy matters which cut across different ministries.

Mr Wong Kan Seng remains Home Affairs Minister and Deputy Prime Minister.

Mr Shanmugam’s appointment is the first time since 1985 that an MP has jumped from the backbench to the post of full-fledged Cabinet minister.

In 1985, Dr Richard Hu, who was previously chairman and chief executive of the Shell group of companies in Singapore, became Trade and Industry Minister one month after being elected MP.

The new Cabinet line-up unveiled by Prime Minister Lee Hsien Loong yesterday also includes changes at the helm of the Education and Manpower ministries.

From Tuesday, Mr Gan Kim Yong will be Acting Minister for Manpower, taking over from Dr Ng Eng Hen, who will relinquish his Manpower portfolio to helm the Education Ministry.

Mr Gan entered politics in 2001 and was appointed Minister of State for Manpower and Education in October 2005. He will now hold the grade of Senior Minister of State.

Dr Ng takes over Education, replacing Mr Tharman Shanmugaratnam, who was appointed Finance Minister in December last year.

This is the first Cabinet reshuffle since May 2006, when Mr Lee announced a new team shortly after winning his first General Election as PM.

Five Ministers of State have been promoted to Senior Ministers of State, including Mr Gan. Among the four others are two who were inducted into politics only in 2006: Ms Grace Fu and Rear Admiral (NS) Lui Tuck Yew.

Also promoted to Senior Ministers of State are Mrs Lim Hwee Hua and Mr S. Iswaran.

First-term MP Teo Ser Luck moves up from Parliamentary Secretary to Senior Parliamentary Secretary.

These changes aside, the Cabinet line-up remains largely unchanged, although some ministers who had two portfolios have given up one while others have assumed additional duties.

At the Ministry of Information, Communications and the Arts (Mica), Dr Lee Boon Yang remains minister, contrary to earlier speculation that he might retire.

Dr Vivian Balakrishnan, who is Minister for Community Development, Youth and Sports, relinquishes his appointment as Second Mica Minister.

Newly promoted Senior Minister of State Lui adds Mica to his current Education portfolio.

Overall, political observers described the changes as ‘incremental’. Some, including veteran MP Charles Chong, were disappointed that no woman has yet been appointed minister.

DPM Jayakumar gave his incoming successor at the Law Ministry a sterling endorsement, describing Mr Shanmugam as one of Singapore’s most outstanding lawyers.

‘He will be a valuable asset, not just to the ministry, but to the PM’s Cabinet as a whole,’ he said.

lydia@sph.com.sg

pmcabinet08.pdf