Philip Ang: Provide breakdown of Temasek’s $43B portfolio increase!

http://www.tremeritus.com/2015/08/31/provide-breakdown-of-temaseks-43b-portfolio-increase/

[h=2]Provide breakdown of Temasek’s $43B portfolio increase![/h]


August 31st, 2015 |
Author: Contributions



PAP government should provide breakdown of Temasek’s $43 billion
increase in portfolio value

PAP should be upfront with Singaporeans on the management of public funds by
Temasek Holdings. Our reserves belong to ALL Singaporeans, not PAP.

Temasek should not simply claim its portfolio value has increased by
$43 billion without providing any breakdown.

According to Temasek Review 2015, there are many multi billion dollar
investments in China which contributed significantly to the increase in
portfolio value, such as those in the table below.

Investments in HK$
Market Cap (HK$ millions)


*BT report CCB stakes as 6%, Temasek Review 5% as at 31 March 2015

2 Concentrated positions in Chinese companies exposes Temasek to
significant risks and it seems to have not learnt any lesson from GIC’s
stake in UBS. The Chinese stock market bubble had increased Temasek returns
significantly and any reversal of fortunes could also wipe out all the gains,
probably more.

On July 8, the Chinese government suddenly banned investors with stakes of more than 5% from selling for
6-months. Temasek’s 6% stake in China Construction Bank shares worth
about S$17 billion on July 9 has lost about 30% of its value in less than 2
months.

How to create a stock market bubble


Image credit: Bloomberg


The meltdown has already started and if, say, the Shanghai Index collapses
back to 2000 level, Temasek will be at least $10 billion ‘poorer’ in FY
2016.

4
By taking concentrated positions, Temasek will be unable to dispose of its
assets due to liquidity issue in a financial crisis.

5 Although it has been widely acknowledged that all assets are overinflated
due to historically low interest rates, Temasek made a net investment of
$11 billion and $14 billion in FY 2015 and FY 2014 respectively. Two
years before the GFC, Temasek had also made net investments totaling $26
billion. Will history repeat itself?

6
In March 2014, Josephine Teo, SMOS for Finance, informed Parliament that “GIC, Temasek won’t take more risks to help fund govt
spending”. Could Josephine explain why Temasek’s net investments were
increasing during the last 2 years as global stock markets headed into the
stratosphere?

7
On the domestic front, the PAP government has also been assisting Temasek to
create value out of thin air with our reserves, money which does not belong to
PAP.


Lo and behold .. Olam shares obeyed and quickly rose to overshoot $2.23.

Olam
was a loser as is reflected by its share price since 4 years ago. If not for
Temasek’s offer to take Olam private, its value would been decimated, joining
the ranks of Noble and Golden Agr.


Image source: Vecto.rs


Temasek’s view is not shared by other investors and Olam has continued moving
south; it looks set to break below its pre-offer price of about $1.50.

Temasek owns 1.425 billion Olam shares. If Temasek invested at an average
price of $2, it would have spent almost $3 billion of our
reserves since 2008.

After 7 years, Olam dividends have amounted to a miserable 31 cents per share, hardly anything to shout about.

8 Similarly, SMRT was about to break the psychological $1.00 support despite
an initial 1.1 billion tax dollars to fund the BSEP. It was only speculation
that an additional $1 billion, or more, to take over SMRT’s rail assets by the
government that prevented SMRT’s fall below $1. SMRT’s value had shot up 60% as
a result of its proposal to sell rail assets to the government.


Image source: FT.com


9 If not for government intervention, Temasek’s net portfolio would not have
increased by $43 billion. The manner in which Temasek uses our reserves to
support its investments, singlehandedly increasing its value, is a cause for
concern.

Singaporeans should not be expected to trust the government blindly on
investments involving hundreds of billions of our reserves. Why
should PAP fear disclosing the breakdown of the $43 billion increase in
Temasek’s net portfolio value?

PAP should come clean and start to earn the trust of citizens instead of
hiding behind legislations to prevent
disclosure.

Phillip
Ang

* Phillip blogs at likedatosocanmeh.

If they publish I confirm chop.

Your money is their money.
Since it's their money why should they account to you? Siao bo?

Another crazy asking "Where is the money, Tharman? Where is it?"

If we reveal, people would copy Temasek! We can't have that.

Ho Ching needs a 50 yr sabbatical to work it out!!!!!!!!!!!!!!!!!!!!!!!!!!!1 LOL

Most of it comes from our CPF Min Sum increased!! LOL!

Majulah Singapura

Singaporeans man your battle stations!
Singapore needs you now!

makapaaa said:

http://www.tremeritus.com/2015/08/31/urgent-need-for-volunteers-to-help-the-opposition-repost/

[h=2]Urgent need for volunteers to help the opposition (repost)[/h]

August 31st, 2015 |

Author: Contributions

Dear
fellow Opposition supporters,

I have a message that I urgently want to share. The time has come for us to
do our part for Singapore. Nevertheless, we must not repeat the mistakes of
2011.

At the last general elections in 2011, 39.9% voted for the opposition and
this resulted in the opposition winning 6 out of 87 seats. After the election
results, opposition supporters were quick to blame the 60.1% for giving the PAP
such a large majority in parliament and the mandate for unpopular and unwanted
policies like the Population White Paper. Rather than blame the 60.1% for the
results, many of the 39.9% of opposition voters should also blame themselves for
doing nothing except voting against the PAP. Yes, you guys voted against the
PAP. But that is not enough if you want real democratic progress.

How many of the 39.9% actually volunteered to help the opposition parties
they were supporting? Only a small minority! Did you really think your pathetic
one vote was going to be enough to topple the PAP? The GRC system has already
diluted the value of your vote, so your one vote is insufficient. That is why it
is so important for the opposition parties to cover as much of the GRC as
possible during the short 9 day campaign period! If you want to send a strong
message to the PAP, you have to go all out and help the opposition parties to
get the necessary manpower to cover ground. Their activists will be tired and
overstretched as the campaign goes on. Your single contribution may actually
change the outcome in a hotly contested constituency like East Coast GRC,
Holland-Bukit Timah GRC or Marine Parade GRC.

What if an opposition party lost narrowly just because they did not manage to
cover certain parts of your GRC in the short election period? What if the few
house visits that you helped the party conduct garnered that last bit of support
necessary for them to cross the 50% mark?

All you have to do is distribute flyers, hang banners, be a polling agent or
spend a few hours doing house visits. You can even choose what you want to do.
The real battle is not fought at the rally stage but at the HDB heartlands, at
the door of every HDB unit. You do not have to volunteer every single day! You
just need to dedicate an hour or two of your free time to help the opposition
party you believe in. Who knows? You may even get a free party T-shirt as a
souvenir.

If you do nothing other than cursing the PAP online every single day, that is
not going to help make things better for you or anyone else. General elections
come only once every 4 or 5 years. If you are frustrated with the government’s
policies but are not willing to spare even 1 hour during a special 9 day
election period that only occurs once in 4 or 5 years, you cannot say that you
have truly contributed to the Opposition cause. You would then have only
yourself to blame for the election outcome.

If you do not have confidence in the opposition party contesting in your
area, you can always volunteer to help out elsewhere. For instance, my area is
being contested by the NSP. I am going to volunteer with the WP and/or SDP.
Whatever help you render, it beats staying at home and being a passive
observer.

Some among us do not know how to volunteer with an opposition party. Is it so
hard? Nope. You just have to fill up an online form and they’ll contact you.
Here you go!

To volunteer with the Workers’ Party (WP), please fill up this form:

docs.google.com/forms/d/1G-GeVdzvbp2A24sPCnjZcXNjPVtiG7hZIXemkhjUOQ0/viewform

To volunteer with the Singapore Democratic Party (SDP), please fill up this
form:

secure.jotformpro.com/form/52098152576966

To volunteer with the Singapore Peoples’ Party (SPP), please fill up this
form:

www.spp.org.sg/volunteer-spp

To volunteer with the Singaporeans First party, please fill up this form:

singfirst.org/how-you-can-help

To volunteer with the Peoples’ Power Party (PPP), please fill up this
form:

forms.zohopublic.com/lizixu/form/VolunteerForm/formperma/Ef446mA3k1hA3h4g28BC4fd44

To volunteer with the Reform Party (RP), please fill up this form:

docs.google.com/forms/d/16SxO5fHtXVy8X7UeZN1X08JjA5vOD_tayMitkppRj5o/viewform?c=0&w=1

I strongly recommend volunteering with the WP, SDP or SPP since they will be
involved in the hottest contests this GE and they have the highest chances of
winning. Your single contribution might be crucial in moving the votes in favour
of the opposition. Every one of us, regardless of race, language or religion is
valuable to the opposition cause.

Let’s work together to ensure that we have a better Singapore after this
general election. Thank you.

David
Tan

* Submitted by TRE reader.

Click to expand...

zhihau said:

Steady lah! Altogether now! HUAT AH!

Click to expand...

It is ok if they want to plagiarised what I have been shouting from top of the soap box here.
I happily donate all rights to all that I wrote to Singapore and Singaporeans

OPPOSITIONS ARE THE DIFFERENT FACES OF THE TRUE SINGAPORE
PAP IS THE FACE OF SEPTIC OVERFLOWING TOILET BOWLS AND CORRUPTIONS AND OF STINKAPORE




Cleanse PAP Stinkapore into Singaporeans Singapore.
Vote only opposition
Vote out all the fucking corrupt PAPs


This fight is not just your voting for opposition, any opposition against the PAP
Singaporeans must do much more than just relying on their single vote.
Give them the money to support them in the fight.
Give them your time and energy to support them in the fight
They fight for you Singaporeans
They fight our common enemy
They fight the PAP and cronies, corrupt and rotten to the core, who stole over 180 billions from Singaporeans, and intent on stealing even more from us.


Support Opposition, any Opposition, all Opposition
Regardless if they have primary school, or O levels or A levels or PhD
Regardless if they wear singlets, or tuxedos
Support Opposition, any Opposition, all Opposition
Regardless if they wear slippers, or wear sneakers or shoes
Support Opposition, any Opposition, all Opposition
Even if a rat crawl out of a sewer and stand as Opposition
Even if a cockroach with 6 legs and 2 long feelers at the head become Opposition
They will be much better for Singaporeans than the fucking corrupt perverted PAPs who only think of laughing all the way to their banks and back from the banks
Under the fucking PAP, Singaporeans are the 4th class citizens in their own land stolen from them by PAP
PAPs are the 2nd class citizens with the Lee family as the first class aristocrazies
Fts are taken in as the 3rd class citizens kicking singaporeans into the 4th class and sinkies good only to go head down down and arseholes up high high to be fucked and tiewed by PAPs laughing all the way to their banks.