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Bright Ideas From A New Citizen

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This has to be one foreign talent with a capital "T". Billionaire Bhupendra Kumar Modi, a new citizen who ranks 23rd in the Forbes list of Singapore’s richest, is recommending that singles as young as 25 be allowed to buy subsidised HDB flats to "encourage sexual relationships and earlier marriages".

Not to worry, this being Singapore, if there's a bun in the oven, you can go ahead and plan the wedding dinner. Just make sure there are more invitees than the number of tables booked, not unlike Khaw Boon Wan's recipe of building flats just short of meeting demand. That's one way to guarantee a profitable enterprise.

But what if the gentleman turns out to be a cad, and refuse to protect the deflowered lady's honour? Then you are on track with the casino strategy, build first, worry about the proliferation of gambling ills later. Anyway, the billionaire also said, “Most of the girls and boys these days would like to have sex before they marry.” Modi, 64, who has three children and five grandchildren, must be speaking from first hand experience when he added authoritatively, "“There are no virgin marriages.”

Modi is the global chairman of Spice Global, an Indian conglomerate headquartered in Singapore. His Spice Innovative Technologies provides voice, data and computing services. If his local hires include Singaporeans, he would have realised that it's not a simple matter of boy meets girl to "counter a slump in the birthrate that’s depriving the economy of workers". Being so rich, he probably missed out on the small problem of affordability.

Yes, Khaw did announce plans to cut prices of flats by 30%, dream prices which can be financed by 4 years' earnings, but the details have yet to be revealed. Since January, mortgage  payments have been capped at 30 percent of monthly household income, when there were no restrictions on bank loans before. A 3-room flat, minimal requirement for a viable family setup, is still pegged at $255,000 at SkyPeak@Bukit Batok. That's easily a 20 year loan at 3% interest. And if Modi had considered national service, he should realise that a young male graduate having served two years drawing about $500 a month would have limited savings at age 25.

Perhaps Modi should also recommend scrapping the COE. The money saved should certainly help with the house purchase. While waiting for Khaw to improve on the waiting list, the baby production rigmarole can be initiated at a discrete car park. For recommended sites, check the press reports on the CNB and SCDF gratification court cases.


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