The expensive mobile calls to 0800 (Northern Ireland) swine flu helpline

August 2nd, 2009

Calling UK Swine flu help line from abroad or from mobiles

In respond to Swine flu, UK government setup the following websites and helplines:

Website: NHS Pandemic Flu Website

and Helplines:0800 1 513 513 (information),08001513100 (assessment/Tamiflu voucher) 0800 0514142 (for nothern ireland).

The problem was that 0800 numbers are not normally free from mobiles as seen HERE .  The mobile operators normally charge for 0800 numbers at a rate of 20 - 40p and they had to rig the billing system to allow for these special 0800 numbers to be exempted. (Call to the 0800s is now 100% free from the main Vodafone, T mobile, H3G, O2 and Virgin Mobile)

While the England 0800 1 513 513 / 0800 1 513 100 are now callable free of charge from mobiles, the Norther Ireland version is still charagble.  Further, fro Brits abroad, there may be problem calling the 0800 numbers as 0800 numbers are not always callable from abroad.

I have been informed of a work around and the following number translation has been setup. When you dial the 01635 number, some telephone system just onward connects the call to the 0800 numbers (totally transparent to you).

Numbers provided by NHS 01 number
NHS Swine Flu information line 0800 1 513 513 +44 (0)1635 774 500
Swine Flu Assessment line 0800 1 513 100 +44 (0) 1635 774 501
Northern Ireland NHS Swine Flu help line 0800 0 514 142 +44 (0) 1635 774 502

The 01635 not sanctioned by the government of course, but a workaround to the problems some may face dialling the 0800 number.  And of course, this blog provides no medical advice - talk to your doctors.

petrov.gazprom / petersons.productions@gmail.com weired question spam

July 23rd, 2009

Since last 2 weeks we have been receiving weired questions from the aboce email address.

At first, the question seemed relevant and legitimate, but then I keep getting more every few days and the person who signed off includes Tony, Jerod and Lacey.

I can only guess the person intention - to get a list of names in the respond (as most companies will sign the email off with the name of the person who write them ?) and then use it for some sort of social engineering purposes ?

Or it some sort of mystery customer service shopper !?

Perhaps this is one of the weird thing on the internet where there will never be an answer, other than from the person who send the mail of course…

How Hong Kong eradicated corruption in the 1977

July 15th, 2009

I copied this from http://malaysiafinance.blogspot.com/2009/07/my-favourite-best-posting-over-last-35.html (hope Mr SD doesn’t mind) as I think it act as a good lesson as to what Malaysia can do eradicate corruption.

Sir Jack Cater’s Legacy

The Missing Legacy was first written in a blog of mine dated 7 February 2006 - it was on the passing of Sir John Cowperthwaite, the person most responsible for HK’s reputation as the freest economy/capitalism in the world. Cowperthwaite’s passing did not get much press coverage at all in HK media, and that kinda pissed me off because a group of people who can forget so easily their “roots” and “how they got here” are doomed to lose the blueprint set by Cowperthwaite.

Now another old gwailo died, and his contribution to HK is no less than Cowperthwaite. Sir Jack Cater died on Guernsey on 14 April 2006 aged 84. He was the founding head of HK’s infamous Independent Commission Against Corruption (ICAC), which took radical steps to combat graft in the police force in the 1970s. Cater went on to become HK’s Chief Secretary, Acting Governor and Commissioner in London. Bribery had long been endemic in Hong Kong’s police and civil service, but was thought of as being confined to the Chinese lower ranks, rather than expatriate officers. Calls to eradicate it were largely ignored by governors before Maclehose, who arrived in 1971. Maclehose lacked the political will to tackle the problem despite strong urgings by Cater .

If you were to do a net search, you will find Jack Cater’s passing only being solemnly mentioned within the HK’s government admin portal at www.news.gov.hk … how soon we forget!

Cater even threatened to resigned in 1973 when trying to bring down Chief Superintendent Peter Godber. Godber fled HK while under investigation for amassing a fortune of several million pounds, much of it banked in Vancouver. Cater needed to strike at the top, even at one of his own, to further reinforce the dire need for eradication of corruption in HK. The developments forced the hand of Maclehose. Jack Cater was asked to form an independent anti-corruption unit with the support of a former Special Branch officer, John Prendergast.

The establishment and independence of ICAC is crucial to HK’s economy. While Cowperthwaite had eradicated bureaucracy, you still needed “pure meritocracy” in the financial economic system to uphold its integrity and transparency. Only with those factors can HK gain an ever growing reputation as a true financial center - attracting professionals and companies to invest.

Cater’s reputation for determined leadership had been established during the period of civil unrest in Hong Kong in 1967. He cared deeply about his work and about those closest to him, and he encouraged the careers of talented young officials - including women, who in earlier days had generally been denied promotion.

In the first year of its operation, 1974, the ICAC handled 1,798 complaints of police involvement in bribery and extortion. It was said that more than a third of all Chinese policemen were members of triad gangs which controlled prostitution, drug-running and gambling across the Territory - rackets which, as Cater pointed out, raked in more than three times the profits of the Hongkong & Shanghai Bank.

By October 1977 the Commission’s uncompromising methods (it acted on anonymous tip-offs, and allowed no presumption of innocence) had caused such anger in the Police Force that 2,000 officers marched through the streets to present a protest petition, and a group of CID men stormed the ICAC’s offices. Fearing a breakdown of order, Maclehose felt forced to declare an amnesty for all but the most heinous offences.

In spite of this setback, the ICAC’s work continued with unflagging determination. Investigations proceeded into other government departments, notably public works, education (parents were often asked for bribes to enrol children in schools of their choice) and health (hospital patients were forced to pay up for bedpans). It was indeed a cradle-to-grave system, with bribes demanded even for burial sites. Among those most grateful for the clean-up were the drivers of Hong Kong’s battered fleet of minibuses, whose fares had for many years been preyed upon by bent policemen.

The ICAC was often accused of heavy-handedness, but its intervention provoked a culture change which still stands Hong Kong in good stead while corruption remains rife in other parts of Asia. Though Cater moved on in 1978 to the top civil service post of Chief Secretary, it was at the ICAC that he made his most significant contribution. Cater was Chief Secretary from 1978 to 1981. With a rapidly growing economy, it was a golden era for HK. Cater was several times Acting Governor, and was in line to succeed Maclehose in 1982; but Margaret Thatcher was persuaded to appoint a senior diplomat, Sir Edward Youde, to commence negotiations for the eventual handover to China.

Instead Cater became HK’s Commissioner in London until 1984. He then returned to Hong Kong to work in the private sector, joining China Light & Power Co - the electricity generator for Kowloon and the New Territories - and becoming head of Hong Kong Nuclear Investment Co, which was China Light’s participation with Beijing in a nuclear power station venture at Daya Bay in Guangdong province. He was president of Hong Kong’s Agency for Voluntary Service, a member of the Court of the University of Hong Kong and an international director of the United World Colleges, participating in the foundation of Hong Kong’s own College at Shatin in the New Territories.

Again, another passing of an important gwailo being largely ignored by HK’s media. Is it a gagging issue; were media companies trying not to agitate China’s political HQ by not bringing up the “glory days” of British colonial influence? How many more “important gwailo septua/octo-generians” must die before HK people recognises its roots, and pay the according tributes and gratitude that are due.

One can just imagine the gulf between HK and Singapore as financial centers if “true meritocracy” did not prevail in HK. Will Cater and Cowperthwaite ever make the books of HK’s recent history. The Chinese have an oft-quoted saying, “when drinking water, one must never forget its source”, how they got here. Just because some of them involved people who are not Chinese does not matter, and should not matter.

BBC Panaroma - Credit Where It’s Due

February 25th, 2009

I watched BBC Panaroma  Credit Where It’s Due and wanna laugh seeing the Dragon Den, multi millionaire turned TV star presenting the program. I suspect his Finance director must be laughing as well.

http://news.bbc.co.uk/panorama/hi/front_page/newsid_7902000/7902189.stm

Item 1 - The florist being charged an overdraft interest of 12%, up from 5%.  Her Bank must have been extremely kind to give her 5% interest during the past few years.  Small business overdraft rates normally runs into lower double digit plus a commission/fee.  Ryman group might be ablt to borrow at significantly better terms, but that is Ryman group…not small businesses..

Given the climate and probability of default running into maybe 20% or so, (as an ex Insurance man, Theo should known better) that 5% unsecured rates just isn’t going to work (unless the overdraft is secured against a property).

Item2 - PDQ payment taking 5 days (working days?) is a bit long but 2 days is pretty common. Doesn’t Theo looked at his Ryman receipts - has those card taking ever been instant/same day?  The acquiring process basically involve :

(a) The PDQ authorising/capturing the payment  (Day1)
(b) The bank computer dialling in at the end of the day (or PDQ dial out) to submit the daily file (day2)
(c) Bank batch process the daily file
(d) Send credit via BACS network / or if same bank, its own bulk payment system
(e) Day 3, money showing up.

Instant? He got to be joking.

Capitalistic society dictates that if the bank are charging too high prices, than other competitors will move in. Perhaps Bank Of Ryman should be established to save us all soon giving out 5% overdraft?

Theo seemed to downplay the effect of exceeding overdraft limits several time. For bigger businesses, that is called a breach of the convenances and the results is often severe.  If a bank every does that, it goes bust straight away.

There is a serious issue of trust now - not just with the banks. The fact that the program highlighted that suppliers are demanding post dated cheque means that no one is trusting anyone. The lax UK insolvency law clearly does not help that either (Creditor voluntary liquidation, then phoenix the business and creditor’s lost out).

Warren Buffet said that those living on credits are relying on the kindness of strangers and that no one is obliged to lend anyone money.  Perhaps debt, in bad time, is weapon of mass destructions after all..

I certainly don’t see Theo giving away money easily on Dragon Den. I suppose at least the banks are not demanding for 50% equity with their cash !

Boom-time on benefits: The 140,000 families who claim £20,000 a year in state handouts

December 29th, 2008

Boom-time on benefits: The 140,000 families who claim £20,000 a year in state handouts

http://www.dailymail.co.uk/news/article-1102386/Boom-time-benefits-The-140-000-families-claim-20-000-year-state-handouts.html

That is out of control…

Malaysia export to GDP>100%, Eco grow down to 3.5%

November 4th, 2008

Pretty scary stuff with export (gross) > 100% of GDP.  It is so export dependent, and sounds like
Malaysian sole reason of exsitence is to make stuffs for other countries..

KUALA LUMPUR, Nov 4 (Reuters) - The downward revision of Malaysia’s 2009 economic growth forecast is not a surprise given the country’s heavy dependence on exports, ratings agency Moody’s said on Tuesday.

Malaysia’s government dramatically increased its budget deficit forecast for 2009 due to slowing revenues and said that economic growth would come in at just 3.5 percent, its slowest pace since 2001.

‘The growth forecast has not come as a surprise, obviously Malaysia is quite heavily exposed to the global economy with an exports-to-GDP ratio in excess of 100 percent,’ said Aninda Mitra, Sovereign Analyst at Moody’s (nyse: MCO - news - people ) Investors Service.

The country’s direct export exposure to the U.S., the European Union and Japan is also very high at almost one-third of the total exports, he said.

‘So in that context the export slowdown is under way. Not only that, but also commodity prices have dropped a lot, palm oil and crude oil prices have come down quite a bit, so the growth revision does not come as a surprise.’

He did not comment on the revised budget deficit, saying he needed to see the details.

Retailer Wow real life

October 24th, 2008

I placed an order for a LCD (i.e TFT) monitor yesterdat with a “Whenever they are free to pack it” delivery option (as I am not in a hurry) and the item was packed and sent to courier this morning at 10am (Order placed 10pm yesterday, assuming they start working at 8, that is still pretty quick).

There are two explanation - either they are super efficient or that there isn’t much order to process AT ALL.

This financial mess is now spreading everywhere.

Singapore may head towards subprime crash as well

October 23rd, 2008

I was in Singapore in July and had an opportunity to visit several condo developments.  At teach of the development, there is a mortgage advisor from a bank linked to the developer.

Upon enquiry, there were willing to lend to me up to 100% of my monthly income (no kidding), provided that 30% deposit is put down.  From the sound of it, also no doc (or no full verification of income was (Banks are required).  (This only apply at 70% or less, 90%+ loans are quite strict).

However, during the last recession, Singapore condo crash by more than 50%. And if this crisis continues (which looks like it will be), we will have a nice drama of subprime @ Singapore.

http://4.bp.blogspot.com/_YlvEjlIelzk/SQCC1xZyh_I/AAAAAAAAUUg/grVZ2H8TaZw/s1600-h/1.jpg

(Oct 6 - OCt 12 transaction price)


http://1.bp.blogspot.com/_YlvEjlIelzk/SLbZMyG1sGI/AAAAAAAANoE/qLT3slrm7Gs/s1600-h/1.jpg

(Aug 11 Weekly Transaction price)

http://propertyhighlights.blogspot.com/2008/10/high-loan-exposure-becomes-dampener.html

and a warning from Moody

http://propertyhighlights.blogspot.com/2008/10/high-loan-exposure-becomes-dampener.html

Fiscal Stimulus

October 23rd, 2008

Now US is talking about fiscal stimulus and UK is talking about bringing ahead project spending (which will act as fiscal stimulus).

If the stimulus is spent on truely useful infrastructure (e.g. rail), then it is an investment that our children will benefit from.  If it is spend on rubbish stuffs ( as Brown government often does such as hiring consultants who cost millions to figure out how to spend the money), then it would become a debt that we and our children have to pay.

There is also a possibility of giving the money back to the citizens via tax cut / tax rebate but there is a risk that the money is saved rather than spend (and hence defeat the purpose).

I have a proposal - let’s send the rebate in prepay Visa/Mastercard issued by the government (or contract it to say the like of Newcastle Building Society) and makes the credit expire after 3 months.  In this case, they would have no choice but to spend the money (albeit on Groccery if they must).

Super credit insurance fund

October 11th, 2008

Things are getting really bad. The latest implosion in the Letter of Credit market now risked the entire world economic system to fall.   There was a report on the

http://www.clusterstock.com/2008/10/credit-freeze-slams-global-trade

Basically, international importers (say issued by BNP Paribas) will send the exporter a letter of credit where the importer’s bank (say Citi) will pay the importer on presentation of evidence of delivery of goods/services.  The importer’s bank Citi then reclaim the sum from the exporter’s bank. In this case, the exporters’ bank becomes a counterparty of the  importer’s bank.  If it (i.e. Citi), cannot be sure that it will get paid from BNP (importer’s bank), then it refuses the letter of credit.   Without being able to be sure that the company will get paid, goods get stucked at the ports.

Of course, this can be mitigated by using prepayment/escrowed but then this is very expensive.  Also, under such enviroment, global banks like HSBC will do well as HSBC USA will of course accept HSBC Hong Kong’s LC.

The same credit crisis also prevent investors from lending to banks and corporation (via the Commercial paper) market and worse still, banks are not lending to each other either.  (except HSBC noted that it lent about £2bn to UK banks via HSBC UK).

Now, what we need is a Global Credit re-Insurance fund backed by government, but with its initial capital raised from various mega insurers around the world.  The fund would be staffed by legendary insurer such as Warren Buffet who know the odds.  This is to put to rest the counter party risk and so that corporation and banks that are not a credit risk can start borrowing again.  This will also eliminate the uncertainty in the CDS market once and for all (rather than moving it to an exchange - we can do that later) as now all credit insurance contract are now centrally reinsured/cleared.  Those that are no longer credit worthy would not be sold an insurance at a acceptable price and would need to be allowed to go down.

The insurance fund should also be transparent and make all the reinsured contracts transparent.

To simplicy things, the fund can probably forced all contract to be written in USD or RMB (whcih will allow RMB to replace USD as the global currency for all)