My another hunt on the google to find the process to add a static block to a cms page. After few search and filter, i found a post on a pratthost. It saved my a lot of my time and headache. The following post is taken from it, slightly modified.
Actually, there was nothing complicated about achieving this. Static blocks are a great way to divide up different types of data blocks to make updating content easier.
This one is crazy with magento because sometimes it works and sometimes it just shows blank page. Once it gave me a real hard time. Finally found solution somewhere.
//I just had to do was add
->debug()
//on the object that i wanted to print as:
$obj->debug();
//e.g. if i had
$_cart = Mage::getModel('checkout/cart');
//to use print_r or var_dump, i needed to do
print_r($_cart->debug());