NTUC
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Day before yesterday, it was reported that NTUC is selling cars already.
What next? Will you be surprised that "Tomorrow, NTUC will be selling ice cream at the street corners.".
What is the core business of NTUC? -
Today they got a lot of business... But they are STEALING PPL'S BUSINESSOriginally posted by PatrickLTH:Day before yesterday, it was reported that NTUC is selling cars already.
What next? Will you be surprised that "Tomorrow, NTUC will be selling ice cream at the street corners.".
What is the core business of NTUC?
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their main business is to restrict the power of the trade unions so tat the PAP can remain in power under the disguise of selling things
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Nope... They have transport co alsoOriginally posted by ctstalin:their main business is to restrict the power of the trade unions so tat the PAP can remain in power under the disguise of selling things -
NTUC has already corner the majority of the car insurance.
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yup. that's their business alrightOriginally posted by sbst275:Today they got a lot of business... But they are STEALING PPL'S BUSINESS -
NTUC's core business is the supression of entrepreneurship and the growth of SMEs in general. It achieves this by dipping its fingers into everything and enjoying an unfair advantage over their less well-connected rivals. The NTUC can in fact drive their rivals out of business by simply operating at a loss.
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CORRECT... And they try to sell groceries to us expensive and poor quality and yet to claim that they are Singapore's Very Own - Like real...Originally posted by av98m:NTUC's core business is the supression of entrepreneurship and the growth of SMEs in general. It achieves this by dipping its fingers into everything and enjoying an unfair advantage over their less well-connected rivals. -
I make it a point to do my shopping at Cold Storage and neighbourhood mini-marts. No NTUC membership for me either.
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Me too... Or Cold Storage sibling GiantOriginally posted by av98m:I make it a point to do my shopping at Cold Storage and neighbourhood mini-marts. No NTUC membership for me either. -
Next will be undertaking, so that they can "take care" of Singaporeans from birth to death.Originally posted by PatrickLTH:Day before yesterday, it was reported that NTUC is selling cars already.
What next? Will you be surprised that "Tomorrow, NTUC will be selling ice cream at the street corners.".
What is the core business of NTUC?
Should also try Seng Shiong. Things there are cheaper than NTUC even with the "rebates". It is also truely Singapore very own.Originally posted by av98m:I make it a point to do my shopping at Cold Storage and neighbourhood mini-marts. No NTUC membership for me either. -
You guys dun get it .. most times yes they are stealing peoples business, but not this one. This round they are trying to get NTUC to help boost peoples spending. By competiting against the local businesses and offering better rates it will force prices down.
You must look at economy as a whole, currently now things are picking up after a slump since 2000 but there is a danger of it falling back again into deflation so garmen trying to boost it.
Many ppl say "oh this year or next year economy dun look so good" all nonsense & not true at all. You must understand what move the economy.
what are the main drivers of a booming economy ... very low interest rates, easy credit, continous spending like construction, and spending on big ticket items like housing, cars etc ... traditionally when sales of these things move up tremendously other things will move also, other things move means business bottom lines across the landscape improve that means more hirings, pay increases and bonuses etc etc etc ....
but with a booming economy comes inflation but choose between that and deflation any government in the world will rather work with inflation any day because deflation means people jobless and that leads to a whole lot social problems and in the end creating potential terrorists. And the garmen if you noticed have been trying for several years now to stimulate the economy by constantly paving and re-paving all the blady roads creating mini traffic jams everywhere
, building new or improve infrastructure etc ... all these are small drivers which keeps the economy humming.
Can't remember exactly the figures but I think previously if you bought a home you required a down payment was 20% that was reviewed and changed to current 10% to make it easier for people to afford a home.
Previously you couldn't buy a car with a credit card but now you could.
With bank home loan wars going on it only means easy credit, easy credit means more spending which leads to more profits, more hires again etc etc etc ...
so you ppl must understand lar.. this is good thing for us. -
Clarification from NTUC Income as reported in 27 Dec ST Forum Page
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Dec 27, 2004
We're not selling cars, says NTUC Income chief
I REFER to the report, 'NTUC Income to sell cars' (ST, Dec 25).
The article is misleading. We are not selling cars. We are not promising discounts.
Here is the correct situation:
Last month, we asked our policyholders if they are interested in participating in collective purchase of vehicles and properties. About 1,000 of them expressed interest.
Two weeks ago, we held a briefing for the interested policyholders to discuss several issues, including collective purchase, parallel import, warranty, certificate of entitlement, loan and insurance. Two hundred policyholders attended this seminar.
At the briefing, we invited a few dealers to present their offer of a discount for certain car models.
A few days later, your senior correspondent Christopher Tan wrote and asked me to comment about our proposed car cooperative. I did not know what he was talking about. I replied that we were not forming a new car cooperative.
Later, he clarified that he was interested about our collective purchase briefing. I referred him to my colleagues who were responsible for this project.
In the ST report, he said that 'the usually chatty Mr Tan was evasive about the bulk car purchase plan'. I find this remark to be unjustified and mischievous. In any case, we do not consider our activity to be worth reporting. This is why we did not invite your journalist to cover our event.
If your paper wishes to report this event, you should at least ensure that your report is reasonably accurate. Your headline was particularly misleading.
You have caused a lot of unnecessary trouble for us. I ask you to have my reply displayed prominently in your paper.
Tan Kin Lian
Chief Executive Officer
NTUC Income
CHRISTOPHER TAN REPLIES:
We reported factually what happened at the presentation NTUC Income made to prospective car buyers. Getting them to buy cars through Income is, in our view, getting into the car-selling business. That was the gist of our report.
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Copyright © 2004 Singapore Press Holdings. All rights reserved. Privacy Statement & Condition of Access. -
Wow, NTUC having a fight with the Straits Times. Maybe they are just acting.
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But NTUC is not up to its motto... If everone knows that NTUC things so ex, ppl all would go other places...Originally posted by pearlie27:Should also try Seng Shiong. Things there are cheaper than NTUC even with the "rebates". It is also truely Singapore very own. -
now NTUC even ask you to buy a packet of ready packed grocery and donated it to those tsunami affected countries, next they may go all the way out to catch and encage some live birds or live turtles and ask you to pay and buy them to release to the wild like those venders near the budhist temples in the neighbouring countires!They are profiting on someone's misery!!!!!!
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Ya lor... And they packed the goods like crap, the way they pack, by the time it reaches Sri Lanka, it is like kiam cai like thatOriginally posted by Heartlander:now NTUC even ask you to buy a packet of ready packed grocery and donated it to those tsunami affected countries, next they may go all the way out to catch and encage some live birds or live turtles and ask you to pay and buy them to release to the wild like those venders near the budhist temples in the neighbouring countires!They are profiting on someone's misery!!!!!!
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either they have lost any business sense and can't make up their minds, or their business model is one of "capture all and try to squeeze out all competitors kind of thing"Originally posted by PatrickLTH:Day before yesterday, it was reported that NTUC is selling cars already.
What next? Will you be surprised that "Tomorrow, NTUC will be selling ice cream at the street corners.".
What is the core business of NTUC? -
shell is cheap too.. donating 5 cents for every one liter petrol...Originally posted by Heartlander:now NTUC even ask you to buy a packet of ready packed grocery and donated it to those tsunami affected countries, next they may go all the way out to catch and encage some live birds or live turtles and ask you to pay and buy them to release to the wild like those venders near the budhist temples in the neighbouring countires!They are profiting on someone's misery!!!!!! -
NTUC is already into this undertaking business. They operates the NTUC Casket.Originally posted by pearlie27:Next will be undertaking, so that they can "take care" of Singaporeans from birth to death.
Day before yesterday, it was announced that NTUC is into selling houses now. -
NTUC is not government right? Or I am wrong?Originally posted by KumSioJui:You guys dun get it .. most times yes they are stealing peoples business, but not this one. This round they are trying to get NTUC to help boost peoples spending. By competiting against the local businesses and offering better rates it will force prices down.
You must look at economy as a whole, currently now things are picking up after a slump since 2000 but there is a danger of it falling back again into deflation so garmen trying to boost it.
Many ppl say "oh this year or next year economy dun look so good" all nonsense & not true at all. You must understand what move the economy.
what are the main drivers of a booming economy ... very low interest rates, easy credit, continous spending like construction, and spending on big ticket items like housing, cars etc ... traditionally when sales of these things move up tremendously other things will move also, other things move means business bottom lines across the landscape improve that means more hirings, pay increases and bonuses etc etc etc ....
but with a booming economy comes inflation but choose between that and deflation any government in the world will rather work with inflation any day because deflation means people jobless and that leads to a whole lot social problems and in the end creating potential terrorists. And the garmen if you noticed have been trying for several years now to stimulate the economy by constantly paving and re-paving all the blady roads creating mini traffic jams everywhere , building new or improve infrastructure etc ... all these are small drivers which keeps the economy humming.
Can't remember exactly the figures but I think previously if you bought a home you required a down payment was 20% that was reviewed and changed to current 10% to make it easier for people to afford a home.
Previously you couldn't buy a car with a credit card but now you could.
With bank home loan wars going on it only means easy credit, easy credit means more spending which leads to more profits, more hires again etc etc etc ...
so you ppl must understand lar.. this is good thing for us.
It is the government (or government linked companies or stat boards) business to boost economy right?
Government (and government linked companies or stat boards) has the mean to ditching out projects (using tax payer money collected) like roads improvement, MRT, water catchments / reservoirs. Initiate grant for training and retraining and re-retraining of displaced workers.
NTUC is just helping to displace the small businessman like housing agent, undertaker, minimart, car insurance agent, car sale person etc. So that more will need to be trained, retrained and re-retrained.
So what is the core business of NTUC? -
NTUC's groceries prices may not be the cheapest, but they are nearly the cheapest. Places such as Sheng Siong may be marginally cheaper, but the ambience is totally different.
A casual price comparison with places such as Cold Storage Supermart will easily reveal that NTUC prices are value for money.
If it were not for the NTUC, you can be sure that the prices of most goods would be more expensive than they are. In that sense, NTUC benefits everyone, members as well as non-members.
The presence of NTUC prevents shops from profiterring. It was first set up in the 70s during rice shortages and grocery shops took advantage of the situation to jack up their prices unreasonably. Recently, during the egss crisis, NTUC sourced for alternative suppliers until prices returned to normal.
NTUC is a cooperative and all Singaporeans should be grateful that it is one of the most successful cooperatives here. -
As long as they don't end up like Cerebos.
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NTUC was started by garmen, whether you want to be naive I leave it to you.Originally posted by PatrickLTH:NTUC is not government right? Or I am wrong?
It is the government (or government linked companies or stat boards) business to boost economy right?
Government (and government linked companies or stat boards) has the mean to ditching out projects (using tax payer money collected) like roads improvement, MRT, water catchments / reservoirs. Initiate grant for training and retraining and re-retraining of displaced workers.
NTUC is just helping to displace the small businessman like housing agent, undertaker, minimart, car insurance agent, car sale person etc. So that more will need to be trained, retrained and re-retrained.
So what is the core business of NTUC?
If you read the sunday papers today on page 17 there is an article on cars, cars are big ticket items the main price influence of cars is from COE for that LTA is going to release more of it. So if more people buy cars they will take up more loans and that helps economy to improve. Because you cannot grow if people don't spend.
In the past if you were a car salesman you are very rich.
1) If someone buys a car from you, you earn a hand.
2) If he trades in his car for the new car you also earn a hand if you resell it later.
3) He buys insurance you get comission thats earning a hand.
4) If he gets financing you also earn a hand.
Sell 1 car can earn so much money, a friend selling Fiat cars the most cheapo car on singapore roads tells me he sells abt 3 cars a month takes home on average 8k imagine what those BMW salepeople take home.
Cars are big ticket items as I previously mentioned is one of the main drivers of a booming economy so the garmen is trying to improve this area, they are doing their part by lowering car COE, the problem are the car companies still charging a lot examplified by their sales people making so much money so people are hesitant therefore garmen steps to offer better rates and rebates to force cars companies to do the same.
In the end a booming economy should benefit everyone and not only a small handful. -
So what is the core business of NTUC?Originally posted by KumSioJui:NTUC was started by garmen, whether you want to be naive I leave it to you.
If you read the sunday papers today on page 17 there is an article on cars, cars are big ticket items the main price influence of cars is from COE for that LTA is going to release more of it. So if more people buy cars they will take up more loans and that helps economy to improve. Because you cannot grow if people don't spend.
In the past if you were a car salesman you are very rich.
1) If someone buys a car from you, you earn a hand.
2) If he trades in his car for the new car you also earn a hand if you resell it later.
3) He buys insurance you get comission thats earning a hand.
4) If he gets financing you also earn a hand.
Sell 1 car can earn so much money, a friend selling Fiat cars the most cheapo car on singapore roads tells me he sells abt 3 cars a month takes home on average 8k imagine what those BMW salepeople take home.
Cars are big ticket items as I previously mentioned is one of the main drivers of a booming economy so the garmen is trying to improve this area, they are doing their part by lowering car COE, the problem are the car companies still charging a lot examplified by their sales people making so much money so people are hesitant therefore garmen steps to offer better rates and rebates to force cars companies to do the same.
In the end a booming economy should benefit everyone and not only a small handful.
My understanding of NTUC, from a businessman perspective is :
In doing my legitimate business (be it a car sale person, insurance agent, undertaker, house agent, etc etc), so long I make money, which is deemed to be too much by the government, then NTUC will step in and compete with me.