More on Microcredit - Microloans

Thanks Sok, for your comments on microcredit / microloans. You wrote it perfectly! Empowerment, with the necessary facilities, is the key to unlock the chains of poverty. Once the individual believe in themself, nothing is impossible.

Actually, the default rate for microcredit is very low, compared to that for normal bank loans. The interest rate is also very minimal, if any. Further, many banks don't do these microloans, cos it is against their "principle" - that is if they have any - these are usually done by not-for-profit foundations that have a higher calling - they believe in their cause to reduce the poverty rates wherever they are. Nevertheless, I've also read of some commercial banks in pre-developed countries that do give out microloans. Go to the link in the later part of this posting for further readings.

The economics of this scheme is like this. Loans will only be given to small groups. These groups would be formed by the people in the neighbourhood. Before the loan is disbursed, there is due diligence done to determine validity, that the individual deserves to be given the loan, as well as evaluation of the individual's biz plan. Along the way, the individual can also consult with the foundation.

The foundation will also guide in the plan. The concept is that with the loan taken in a group, there will be peer pressure to pay up the instalments, otherwise the others in the group will not be given subsequent loans.

Agreed that the risk of no-return is high, but then the principle behind this is to reduce poverty, so. Remembering that this is not so much a commercial biz, and the funds for the foundation probably coming from some philanthropist.

Check out this site for examples of people who benefited from microloans - http://www.yearofmicrocredit.org/pages/whyayear/whyayear_whatclientssay.asp#phorn

Here for more on what microcredit is:
http://www.microcreditsummit.org/Aboutmicrocredit.htm

Here's the website for Global Microcredit Summit 2006 which is on-going at the writing of this posting - from 12 to 16 Nov in Nova Scotia, Canada.
http://www.globalmicrocreditsummit2006.org/

I've got to go check on which is the agency looking into microcredit in Singapore cos i don't know it off-hand. It was mentioned to me that a lady assisting at a Family Service Centre was looking into this poss.

hmm... sadly, there're no other info on agencies looking into microcredit / microloan in Singapore, other than the UNIFEM Singapore event last year. Minister Vivian did mention a little about microcredit & ACE's efforts in this during his speech earlier this year, but it didn't sound like that scheme by Dr Yunus.

Perhaps I should start a following for micro-credit / micro-loans here... maybe a VC company just for micro-loans... ?

Blue skies, and calm seas, always!
Contact me for more details by clicking here ...

Contingency Plan MAXTOR

Did you go get your oolong tea yet? Did so this morning on the way to work. Went to Sheng Shiong and picked out two boxes; one for the office and the other to be kept at home. Started brewing a one-litre bottle of oolong tea and will try out for the next month of so. Just to test if the scientific results are true for me as well. Will post regularly on this. Gotta also start working on reducing my waistline cos my pants are getting tighter! Dun wanna change wardrobe!

I bought myself a portable 200Gb harddisk for S$149 last evening from Challenger's Tampines store. Make was Maxtor and model 3200 - this gives me a standby 200Gb of back-up memory jus in case my harddisk were to crash or waatever! Awesome, so I can also do much more and store much more as well. The original price of the harddisk as stated on the price label was $209 or something. Apparently they were trying to sell off as much as they could cos they will be closing down this outlet within the next couple of days. Well, I've got no complaints!

I also bought Scansoft PDF Converter 4 Professional, (check hyperlink for details) not opened it up yet, but it cost me $165. This software is reportedly able to help me create, convertand edit pdf files

Am just now trying to back-up the C-drive of my laptop and especially all my digital pictures... so far so good. Speed wise, it's pretty fast. I guess...


The final product i bought was DAZZLE*, video creator platinum. This device will allow me to convert my analogue videos to digital. This was what I've been looking for cos I've got some analogue videos from vacations long ago. This set me back by $179.

So now I've got more projects to do! ;~)
Perhaps I can start my video blogs as well!!!

Blue skies, as always!

The Weakest Link - on Friday!

The weakest link...

Just finished watching Survivor - Cook Islands
and saw Sekou got voted out!
He apparently was the weakest link...
Why? Probably because he stood out to lead?
Is that the real reason?
Do we always boot out those whom stand out?

Yes and no...!
When it's at the group forming stage,
if you're not too careful and become too outstanding,
That's the outcome you'll get - the boot!
Perhaps everyone didn't have time to get to know
everyone else as yet...

Whatever it is, Sekou paid the price!

It's all about group dynamics...
Complicated by various individuals' self concerns to survive...
If we feel threatened by another, we activate the fight or flight
syndrome... we wish the "outcast" out of the game...
So how do we manage so that we remain???

hmmm...

Guess there must be a strategy developed, and strong links established
But in the end, its a game of wit and just anybody can and will betray the next.
Its a tough dog eat dog world, but one's gotta do what one needs to survive.
Afterall, that's in the name of the game!

Blue skies, always!

Microcredit

Microcredit came into the news recently when the Nobel committee decided to award Mr Muhammad Yunus (on the left) and Grameen Foundation with the Nobel Peace Prize for their untiring efforts to eradicate poverty in Bangladesh. The concept of microcredit hailed from CK Prahalad where he wrote at length on the topic "Fortune at the Bottom of the Pyramid". (click and read this for enlightenment on the FATBOTP).

Prahalad expounded that even the poorest of communities do present a big opportunity for businesses to consider reaching out to, so as to make these communities prosper, and at the same time, fatten their own coffers.

This concept, though on the surface seems outright unthinkable, yet if scrutinised thoroughly, will reveal that there are much to be gained by considering these "so-called" unattractive and unmarketable segment. I mean, even they need to meet their basic requirements of food and all other bare necessities. And if businesses were to open their eyes wide, they would also see that - at the same time fulfilling their moral oblication to humankind.

What if all the banks in all of the world, buy into this concept of FATBOTP? Why! Pretty soon all the poor communities would be eradicated! However, this concept goes against all the text-book teaching of loans as microcredit exists based on trust - no collaterals required.

However, there is a catch to the microcredit scheme - those wanting a loan would have to come as a group and of say 5. Loans would then be disbursed to the group and group pressure would force all members to make regular repayments. If just one member of the group were to default, the entire group would not be able to get a second loan until the first loan is repaid.

Not surprisingly, this microcredit scheme has proven to be very successful in its loan repayment performance! Reportedly reaching up to the high 90s%! That's even better than many banks can do!

Well, would this same concept of microcredit be able to work in Singapore?
I read about a group that's been doing this for some time now.
I say, there should be more groups sprouting out to do similarly.

Then slowly but surely, we would be able to eradicate the poorest, but equip them to do something useful, rewarding and self-fulfilling!

Hmmm... maybe i should look into this myself and gather some people who are keen and interested. I'm sure the many of the Family Service Centres would be able to locate families that may be interested to form groups to participate in this scheme!

What say you Singapore???! Comments please...



Interested to be a mentor for a microbuisness? Check out this site!

"Give me a lever long enough, and I'll move the world." - Archimedes
But KayCee says - "Empower me, and I'll give you the world!" - KayCee

Successful Implementation of Microcredit in Singapore???

Microcredit came into the news recently when the Nobel committee decided to award Mr Muhammad Yunus (on the left) and Grameen Foundation with the Nobel Peace Prize for their untiring efforts to eradicate poverty in Bangladesh. The concept of microcredit hailed from CK Prahalad where he wrote at length on the topic "Fortune at the Bottom of the Pyramid". (click and read this for enlightenment on the FATBOTP).

Prahalad expounded that even the poorest of communities do present a big opportunity for businesses to consider reaching out to, so as to make these communities prosper, and at the same time, fatten their own coffers.

This concept, though on the surface seems outright unthinkable, yet if scrutinised thoroughly, will reveal that there are much to be gained by considering these "so-called" unattractive and unmarketable segment. I mean, even they need to meet their basic requirements of food and all other bare necessities. And if businesses were to open their eyes wide, they would also see that - at the same time fulfilling their moral oblication to humankind.

What if all the banks in all of the world, buy into this concept of FATBOTP? Why! Pretty soon all the poor communities would be eradicated! However, this concept goes against all the text-book teaching of loans as microcredit exists based on trust - no collaterals required.

However, there is a catch to the microcredit scheme - those wanting a loan would have to come as a group and of say 5. Loans would then be disbursed to the group and group pressure would force all members to make regular repayments. If just one member of the group were to default, the entire group would not be able to get a second loan until the first loan is repaid.

Not surprisingly, this microcredit scheme has proven to be very successful in its loan repayment performance! Reportedly reaching up to the high 90s%! That's even better than many banks can do!

Well, would this same concept of microcredit be able to work in Singapore?
I read about a group that's been doing this for some time now.
I say, there should be more groups sprouting out to do similarly.

Then slowly but surely, we would be able to eradicate the poorest, but equip them to do something useful, rewarding and self-fulfilling!

Hmmm... maybe i should look into this myself and gather some people who are keen and interested. I'm sure the many of the Family Service Centres would be able to locate families that may be interested to form groups to participate in this scheme!

What say you Singapore???! Comments please...



Interested to be a mentor for a microbuisness? Check out this site!

"Give me a lever long enough, and I'll move the world." - Archimedes
But KayCee says - "Empower me, and I'll give you the world!" - KayCee

KayCeez Feel - Sad...

12 Oct 2006
Here's a picture taken during dinner at Altivo Bar at Singapore's Jewel Box atop Mount Faber... lovely panoramic view of southern Singapore, lovely ambience, lovely food, fantastic service... check out their award-winning feature... what is it? I'll share in subsequent postings... but if you're there you can ask Velda or Desmond and they'll be proud to show you... let's keep this for another posting.


For my main post for today...
So another day another blog another experience another...
last night hunger pangs bugged us, so we decided to pay
a visit to a famous place where they sell the famous
Singapore chilli crab just beside the sea...

it was a beautiful night, and with the alfresco concept that
the restaurant was, it was beautiful.. So we ordered a
hotplate of beef stirfried with ginger as well as the all-famous
chilli crab, only one small crab cos she doesn't eat crab meat
it was spicily sweatingly good...as usual... until the bill came!

Like i said, we ordered one small crab and it weighed 700g,
and with the cost of $3/100g, my math tells me that it costs
$21 for the famous chilli crab dish. I almost fell off my chair
when i saw the bill - i was charged $150 for the crab dish!
It's a good thing that i checked the bill before paying, and
exclaimed to the service staff the price.

She didn't even take a second look and just said that she'll
go check, and very shortly mentioned that yes, it did occur
to her as well that the crab can't be so much since i only had
one crab! So why didn't she immediately go back to the cashier
to get the bill corrected, but wait till the customer found out and
give such excuse??? I'm sure if a foreigner were to be the ones
receiving such a bill, they'll probably just pay up.. since they may
not know or be familiar with the pricing.

Lesson Learnt: always always check your bill before paying or
giving them your charge card when you're eating chilli crab,
otherwise you'll be contributing towards their expansion fund!

SO there goes my feel... so sad that i was almost "taken for a $150 ride"...

For now... i've gotta get to bed cos gotta get up at 3.15(am lah!) to wake her up, then catch 40winks before waking up to send her for her flight... yawwwwnnn!!!
A longgg evening after attending a internet seminar... interesting, cos one of the speakers was the one that motivated me to start blogging... we'll keep this for another posting, cos now i really need to sleep....zzzz

"Give me a lever long enough, and I'll move the world." - Archimedes
But KayCee says - "Empower me, and I'll give you the world!" - KayCee

More blogs about Kaycee Feel sad.

So Here's My Feel Today... US$1.6 billion!

Wow! So YouTube was sold for more than US$1.6 billion! That's a cool Singapore$2.6 billion!!!

I mean... who would have thot a never-biznex-intended compilation of videos, never not even posted by nor belonging to the YouTube originators Chad & Steve (come to think about it!), would make it this big!??? I'm sure they never would have dreamed this day will come.... or did they?? ;-) Well, myMerGal sure doesn't think so... ;-)

Is YouTube really worth that much... crazy some might say, but hey! if you did your maths, and if you were a marketing student, or a biznez student, you would already know that it's all about location....location... location! Itz all about that distribution channel, i mean, how else would you get a ready advertising space where there would be more than 100million visits in a single day! AWESOME! I say...

So, to Chad & Steve, I say, more than well-done!

So this is how KayCee's Feel today...

From once sunny, nw haz-zee Singapore

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