Malaysia is more generous to Medal winner.
Malyasia silver medallist now is
rewarded
TOTAL:RM 1,040,000 or S$ 433,000--read below for
details.
vs Singapore Silver cash reward S$500,000,(15% higher than MY's
reward).
If u compare the GDP per capita of SG is 3.7 time (US$49,700 at
PPP)
of Malaysia(US$13,300 at PPP),the SG reward is low compared
with MY's reward.
MY's Lee Chong Wei---Badminton Silver medallist 2008
http://results.beijing2008.cn/WRM/ENG/INF/BD/C73/BDM001101.shtml#BDM001101
LEE
Chong Wei (
MAS)
will get Cash reward RM 300,000
and life pension monthly RM 3,000 .
If u calculate the present value, it is a big lump sum!!
Strait times 20.08.2008.page B14.
I dunt know if the payment will peg with inflation ,civil
servant pay etc.
his bio
http://results.beijing2008.cn/WRM/ENG/BIO/Athlete/5/239435.shtml
born 1982
say life expectancy say 70
---www.cia.gov
https://www.cia.gov/library/publications/the-world-factbook/geos/my.html
present value say 4%,annual per annum.see below .inflation below
3%.
The total of present value of his monthly pension of RM
3000,
make it annual payment of RM 36,000 paid in the middle of the
year,
for 44 years at 4 % discounted rate.
factor 36,000 x 20.55= RM 739,000.Exchange rate 2.36,say 2.4
make it smaller to a SG dollar sum.
say RM 740,000,say
S$308,000(present value of
monthly pension RM 3,000 for 44
years)
plus cash reward RM 300,000.
TOTAL:RM 1,040,000 or S$
433,000
vs Singapore Silver cash reward S$500,000,(15% higher than MY's
reward).
If u compare the GDP per capita of SG is 3.7 time (US$49,700 at
PPP)
of Malaysia(US$13,300 at PPP),the SG amount is low compared
with MY's reward.
http://www.uic.edu/classes/actg/actg500/pfvatutor.htm
Present
Amount of Ordinary Annuity Payment Amount $
Interest Rate % Number of Payments Present Value Factor Present Value of Annuity $
2.1%
note: approximately 30% of goods are price-controlled
(2007 est.)
see cia.gov.sg
the higher the discount present value rate,the lower the lump
sum.
who pays more is a moot point in this discussion.
