At the start of the article, we also found out that the CPF was invested in port infrastructure. Today, PSA and Neptune Orient Lines are also major investments of Temasek Holdings.
The CPF was also invested in the construction of factories. Today, Mapletree is also one of the major investments of Temasek Holdings.
Again, the question is, were Singaporeans reimbursed for the use of our CPF, and were the earnings on our CPF returned to Singaporeans?
Exposed: The Government Did Take Singaporeans’ CPF To Invest In The Temasek Holdings
So, did Temasek Holdings invest our CPF, or only GIC? The issue is very clear now. What we have shown you is only a cross-section of how our CPF is actually invested in Temasek Holdings. But how many more? And most importantly, was our CPF monies returned back to Singaporeans? Or did we, in a sense, lose them to Temasek Holdings?
Today, Temasek Holdings earns 16% in SGD terms since inception (1974). How much of their earnings is attributed to the CPF which has not been returned to Singaporeans?
Are we facing another roundabout explanation from the government again as to how even though the CPF is indeed invested in the GIC, the government would want to claim otherwise, until forced without a choice to submit to admission once again?
We now know that the CPF is indeed invested in the GIC, via a complicated routed process by the government, via government bonds and reserves.
Doesn’t it look quite similar to you that the CPF is also invested in Temasek Holdings, via a similarly complicated routed process, via the government-linked companies, and what the Deputy Prime Minister and Finance Minister had described as economic and social infrastructural investments?
CPF is Invested in the Temasek Holdings, via POSB
Apparently, this lack of openness in the “left to right hand deal” was not the first time it happened in 2009. According to The Business Times, “In 1998, POSBank was sold to DBS Bank, another Temasek-linked company, making DBS the largest bank in Singapore. Two years on, DBS sold its stake in DBS Land to Pidemco Land, also a government-linked company, to create property giant CapitaLand. Again, no other suitors were reportedly allowed.”
Today, DBS is one of the major investments of the Temasek Holdings.
Perhaps what would be revealing is from the book, ‘Housing a Healthy, Educated and Wealthy Nation through the CPF’ by Linda Low and T. C. Aw, the CPF funds were liberalised for investment after 1973/74. And so, “Having liberalized CPF for investment, the government seized on the opportunity to link (and tap) the large pool of CPF balances with the privatization of its government-linked companies (GLCs), beginning with the statutory boards. The privatization exercise was part of public sector reform, where the government began to scale back its activities in the economy after 1985, to make the private sector the engine of growth. Since the 1985 recession, a conscious recycling of CPF funds to avert possible “crowding-out” effects overall has been more distinct. Thus, in 1993, when Singapore Telecom was privatized through public flotation, there was a jump in CPF funds withdrawn.”
CPF is Invested in the Temasek Holdings, via Singtel
Much more here.....http://thehearttruths.com/2014/07/2...temasek-holdings-did-invest-singaporeans-cpf/
The CPF was also invested in the construction of factories. Today, Mapletree is also one of the major investments of Temasek Holdings.
Again, the question is, were Singaporeans reimbursed for the use of our CPF, and were the earnings on our CPF returned to Singaporeans?
Exposed: The Government Did Take Singaporeans’ CPF To Invest In The Temasek Holdings
So, did Temasek Holdings invest our CPF, or only GIC? The issue is very clear now. What we have shown you is only a cross-section of how our CPF is actually invested in Temasek Holdings. But how many more? And most importantly, was our CPF monies returned back to Singaporeans? Or did we, in a sense, lose them to Temasek Holdings?
Today, Temasek Holdings earns 16% in SGD terms since inception (1974). How much of their earnings is attributed to the CPF which has not been returned to Singaporeans?
Are we facing another roundabout explanation from the government again as to how even though the CPF is indeed invested in the GIC, the government would want to claim otherwise, until forced without a choice to submit to admission once again?
We now know that the CPF is indeed invested in the GIC, via a complicated routed process by the government, via government bonds and reserves.
Doesn’t it look quite similar to you that the CPF is also invested in Temasek Holdings, via a similarly complicated routed process, via the government-linked companies, and what the Deputy Prime Minister and Finance Minister had described as economic and social infrastructural investments?
CPF is Invested in the Temasek Holdings, via POSB
Apparently, this lack of openness in the “left to right hand deal” was not the first time it happened in 2009. According to The Business Times, “In 1998, POSBank was sold to DBS Bank, another Temasek-linked company, making DBS the largest bank in Singapore. Two years on, DBS sold its stake in DBS Land to Pidemco Land, also a government-linked company, to create property giant CapitaLand. Again, no other suitors were reportedly allowed.”
Today, DBS is one of the major investments of the Temasek Holdings.
Perhaps what would be revealing is from the book, ‘Housing a Healthy, Educated and Wealthy Nation through the CPF’ by Linda Low and T. C. Aw, the CPF funds were liberalised for investment after 1973/74. And so, “Having liberalized CPF for investment, the government seized on the opportunity to link (and tap) the large pool of CPF balances with the privatization of its government-linked companies (GLCs), beginning with the statutory boards. The privatization exercise was part of public sector reform, where the government began to scale back its activities in the economy after 1985, to make the private sector the engine of growth. Since the 1985 recession, a conscious recycling of CPF funds to avert possible “crowding-out” effects overall has been more distinct. Thus, in 1993, when Singapore Telecom was privatized through public flotation, there was a jump in CPF funds withdrawn.”
CPF is Invested in the Temasek Holdings, via Singtel
Much more here.....http://thehearttruths.com/2014/07/2...temasek-holdings-did-invest-singaporeans-cpf/
