Kenneth Jeyaretnam questions how our SWFs are being managed

[temasekreview]

The Secretary-General of the Reform Party, Mr Kenneth Jeyaretnam has taken the Singapore government to task over its management of the nation’s sovereign wealth over the last 30 years.

In an article titled “Who holds the sovereign wealth of this nation and why?”, Jeyaretnam questioned the rationale behind Singapore having two sovereign wealth funds when we do not have any windfall from natural resources to manage and MAS has sufficient foreign exchange reserves. (read full article here)

Jeyaretnam argued that the funds used by the two SWFs, Temasek and GIC, are accured from years of budget surpluses, which are quite “considerable”.

“The budget surplus having been taken from the pockets of Singaporeans then represents money that not only could have, but should have, been returned to the citizens of Singapore in the form of lower taxes, fees and charges. It could have also been used to finance much higher domestic investment in education or in health and welfare.”, he said.

Read rest of article here:

http://temasekreview.com/?p=11774

 

[Watchman]

They get fat bonuses manipulating citizen's funds !

 

[Einfield]

The current gov and an easy target, the have lost the moral ground to lead due to their greed for power and money.

What KJ say is true and obvious, just that we don't have credible opposition that can string these words together.

 

[Perspective]

The current gov and an easy target, the have lost the moral ground to lead due to their greed for power and money.

What KJ say is true and obvious, just that we don't have credible opposition that can string these words together.

The point is more on whether the issue matters to people. Who can say that he is better at stringing sentences because people have different language grasp.

I have seen people who are very critical of bosses but when put in a position of being the boss, invited more criticism than those they used to criticise.