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LEEtter writer said retirees may squander away CPF money if return to them

Dumbass opposition supporting idiots. The author is absolutely right, its because of idiots in the past that spend their money in Batam that we have the scheme not. It's not a matter of IF, it had happen before

Where is the proof or data of these so-called 'idiots' spending their money in Batam?
 
Mr Jason Soon Hun Khim, even if the above mentioned happen, it is oso none of your business because it is CPF members' rightful MONEY, how they spend it is none of your business.

Fuck Jason Soon...paid Ghost writer...CPF is my blood sweat & tears money I do not need a nanny
government whom I had lost my trust in, to take my money...I take all my money at 55 & f$#$^$k every woman till my dick fall off & have no money & drop dead...THAT IS MY MONEY I SPEND WHATEVER I WISH...

I do not need a government to hold my money....:mad: I want my money..period.
 
Did that asshole find out which bank CPF deposited its money which was subsequently loan to GIC?

Banks?

Sometimes ppl here make me laugh.

Money from employer/employee goes to CPF holder account.

GIC just need to put in figure they want and hit "ENTER" LOL
 
And where doee Ho Jinx get her money to set up and gamble on hedge funds?

http://tradecoholdco.wordpress.com/2010/02/10/breaking-news-temasek-sets-up-its-own-hedge-fund/

[h=2]Breaking News: Temasek sets up its own hedge fund[/h]From Bloomberg:
Seatown Holdings International will employ a multistrategy to invest in assets from stocks to bonds, targeting absolute returns, the people said, asking not to be identified because the information is private.
Charles Ong, chief strategist at Temasek, is the chief executive officer, the people said. Nasser Ahmad, co-founder of New York-based DiMaio Ahmad Capital LLC, a hedge-fund firm specializing in credit products, is the co-chief executive officer, they said.
The size of the hedge fund may be $3 billion, AsianInvestor reported on its Web Site earlier today. Temasek spokesman Jeffrey Fang declined to comment.
Sounds like they are setting up a prop desk. Word on the street is that they will still pay their people very little. Also given Temasek’s traditional top down approach, I wonder how they are ever going to get a research edge when they have a high propensity to ignore the opinions of junior people.
It also sounds like Ho Ching finally got her margin account size increased ; )
Let’s look at the principles:
Charles Ong – chief strategist at Temasek, an ex Malaysian. Former head of Lazard and Deutsche SEA IB. 41, a very young high flyer, but comparatively an underachiever compared to his brother Richard, who was promoted to head of Goldman China. He’s also the man who did the Shin Corp deal, sending Thailand into its endless coup phase.
From China Economic Review:
Now we would like to bring your attention to the curious case of Richard Ong of Goldman Sachs. Ong, a Malaysian Chinese, was not allowed his promotion to head Goldman’s Beijing joint venture, Goldman Sachs Gao Hua Securities, because he failed a government mandated Chinese-language proficiency exam.
That seems odd. Ong was co-head of investment banking in Asia and headed Goldman’s Singapore office before moving to Beijing. He was clearly well-qualified, and, at the age of 42, also on a rapid ascent up the ranks. Goldman is supposed to be the world’s most profitable investment bank, and enjoys special status in China, since it’s one of only two foreign brokerages with management control over its JVs here (the other is UBS). According to the FT, many exemptions have been given in the past to foreign executives whose Chinese wasn’t up to scratch.
..
But can we glean a clue by examining Richard Ong’s resume? According to the FT again, Ong was “instrumental” in Singapore government investment vehicle Temasek’s purchase of ousted Thai PM Thaksin Shinawatra’s Shin Corp last year. But just how instrumental was he? The Nation, a Thai paper, noted that Richard’s brother, Charles Ong, is Temasek’s head of overseas investment strategy and “right-hand man” to Temasek chief Ho Ching. According to Goldman’s website, its Singapore office counts Temasek as a “key client”.
So Charlie is a card carrying member of the Singapore elite oligarchy.
Nasser Ahmad
Nasser Ahmad is the Chief Investment Officer and Manager of DiMaio Ahmad Capital, an investment manager with its headquarters in New York.
Prior to co-founding DiMaio Ahmad Capital in 2005, Mr. Ahmad was a Managing Director of Credit Suisse Capital and the Chief Investment Officer for the Diversified Credit Hedge Fund Group. Mr. Ahmad spent twelve years at Credit Suisse First Boston (CSFB) where he held senior positions in the Fixed Income trading division. Before moving over to Credit Suisse Capital, Mr. Ahmad ran the Global Credit trading business for CSFB. Mr. Ahmad started his professional career at Salomon Brothers in 1992.
Mr. Ahmad is on the boards of Breakthrough for Human Rights and the Soros Economic Development Fund. He is also a board member of the South Asian Action Forum (SAAF), a Political Action Committee (PAC) consisting of community and business leaders that promotes a progressive policy platform with key rising and established U.S. policymakers. In addition,Mr. Ahmad is a term member of The Corporation Development Committee (CDC) of MIT which helps secure critical financial resources for the Institute.
In 2008, Mr. Ahmad joined the National Finance Committee (NFC) of the Obama presidential campaign and was appointed co-chair of the Asian American Finance committee.
Mr. Ahmad was born and raised in Pakistan. He graduated from the Massachusetts Institute of Technology where he received a B.S. and M.S. in Electrical Engineering.
What happened to DiMaio Ahmad, well the long and short of it, is that these guys were spun out of CS during the boom era, then Dow Kim at ML (you remember the guy who was single handedly responsible for ML’s horrible credit book) took a stake in them and committed capital. They then embarked on a disastrous strategy of buying high yield notes yielding 10%, levering it up 4-5 times at 6% in order to get a return in the mid teens. They got slaughtered by the crisis, illiquid book, facing future cash calls, a long wind down process for investors to get back their money. Having failed, Jack Dimaio got hired to take over Morgan Stanley’s credit book, leaving everyone else to hunt for their own exits.
Speculation
I will blindly speculate that Nasser will cover all the brown countries ie Middle East, India, Pakistan and parts of South East Asia, while Charles will cover all the yellow countries ie North Asia and parts of South East Asia. I’m not being racist or anything, but this is actually how the Singapore bureaucracy thinks.
Nasser and Charles are probably getting a share of profits, but no management fee. Few if any of the traders and analysts will get paid hedge fund money, so it will be a training ground for Temasek staff looking to exit to the private sector.
They will probably blow up and have to be bailed out by Temasek. I mean it’s such a clear moral hazard situation that I would expect them to gun the risk. You have an entity that can actually print its own money (Singapore is a hard currency) that is backing you.
Charles probably told Temasek he wanted to make some serious dough and he was thinking of setting up his own fund. Nasser wanted to be closer to his family in Pakistan, now that the parents are older and he’s done his New York thing. Asia is the place to be, so why not move out.
Anyway, will write more about these guys soon.
 
You don't need the old folks to squander their CPF money, Auntie Ho Ching is already doing it for them on a grander scale. :rolleyes:
 
And it is precisely the of his addictive gambling habit and his wife's non-stop shifting of goal posts that SGs have smelt a rat that something has gone terribly wrong with their blood and coffin money!

http://news.asiaone.com/News/The+Business+Times/Story/A1Story20100211-197961.html

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[TD="width: 550, colspan: 2"]Temasek makes waves with Seatown <!-- TITLE : end--><!--
(SINGAPORE) Temasek Holdings has set up a global investment company worth several billion dollars that could suss out opportunities and team up with other sophisticated investors. -->[/TD]
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[TD="class: content_subtitle, align: left"]Thu, Feb 11, 2010
The Business Times
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(SINGAPORE) Temasek Holdings has set up a global investment company worth
several billion dollars that could suss out opportunities and team up with other
sophisticated investors.

A Temasek spokesman said yesterday that it recently set up Seatown Holdings
as a wholly owned global investment company with Charles Ong as the chief
executive officer and Margaret Lui as chief operating officer.

In Temasek's annual report Mr Ong is listed as chief strategist and senior
managing director while Ms Lui is managing director, investment.



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Meanwhile, there have been
reports indicating that Nasser A Ahmad, who was a chief investment officer and
managing partner of hedge fund DiMaio Ahmad Capital in New York, will be named
co-chief executive of Seatown. Mr Ahmad is likely to move to Singapore, one
source said. The fund that he co-founded with Jack DiMaio has assets of US$4
billion but Mr DiMaio left last year to join Morgan Stanley.
'We have a small core team seconded from Temasek, and are still in the
process of building up the Seatown team,' the Temasek spokesman said.

Seatown is said to start with $3 billion, may invite other sophisticated
investors to join it and will invest in various asset classes and have a
multi-strategy approach.

It's more than just a hedge fund, the source said.

In July 2009, Temasek chief executive Ho Ching said the firm was studying
setting up an investment firm which could allow participation from retail
investors. If Temasek decides to pursue the plan, it would first test it on
'sophisticated' co-investors before allowing retail investors to participate - a
pilot process expected to take up to eight years, Ms Ho said.

Some local fund managers said it was a good time to set up hedge funds that
could spot opportunities while markets were in disarray.

'Markets are dislocated, we're seeing a lot of hedge fund formations . . .
hedge funds make money in such environments,' said Peter Douglas, principal of
GFIA, a hedge fund consultant.

But getting investors is quite difficult, especially for start-ups.

'It is difficult for start-ups because investors are very risk averse, though
things have begun to improve a little,' said Michael Coleman, chairman of the
Singapore chapter of the Alternative Investment Management Association
(AIMA).

'It's definitely less glacial than one year or six months ago but it's not
like 3-4 years ago,' said Mr Coleman, who is also managing director of
commodities hedge fund Aisling Analytics, one of Singapore's largest hedge funds
with about US$1.6 billion in assets.

In 2003, Temasek set up wholly owned Fullerton Fund Management Company Ltd,
which manages third-party funds. According to previous reports in 2008,
Fullerton had around US$10 billion assets.

There are some 138 hedge fund managers in Singapore and they manage at least
US$34.9 billion in assets, AIMA said in October last year.

Separately, Temasek also recently appointed two more directors to its board -
Michael Lien, grandson of the late Lien Ying Chow, the founder of Overseas Union
Bank, and Hsieh Fu Hua, former Singapore Exchange chief executive.

A Temasek spokesman yesterday said Mr Lien joined the board in January while
Mr Hsieh came on board this month.
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No need to be so long winded passage.

A simpler picture for folks to understand is this.

Wife wants money to gamble and invest.

Tells hubby if he is to write IOUs to her and on it says he is selling her his 'BONDs' which is 'super stable and safe' but only pays 2.5% to those owners of the funds.

Wife says sure, so if I make money from this borrowings excess of 2.5% I keep. Losses you answer. You can hold those paper bonds ( with paper value only) and guarantee them with your own funds or other.

Hubby says no problem I can use other funds to cover the lost funds or use policies to keep the losses at bay.

The only sure thing. The real owners of those original funds ain't getting all of their funds back. LOL
 
Fuck Jason Soon...paid Ghost writer...CPF is my blood sweat & tears money I do not need a nanny
government whom I had lost my trust in, to take my money...I take all my money at 55 & f$#$^$k every woman till my dick fall off & have no money & drop dead...THAT IS MY MONEY I SPEND WHATEVER I WISH...

I do not need a government to hold my money....:mad: I want my money..period.

Are you due to draw your money already?
 
last election, scare mongering on possbile lost of foreign minister gerogie yeo will impacted on global politics, aljunied will turn into slums and ghetto...

contrary, sinkieland gone strength to strength economically.. this shows who are the bigger liars !
 
This pig Jason is a shill sent by the propaganda mill to do damage control..........but it ain't working.

The basic premise is simple. It's our money and we will do with it anyway we wish to and do we have to report to you how we should use our own money, sucker? Just return our money. It's our right and the promise CPF made originally was to return the money at age 55, when the scheme was started. So, please honor it and cut the crap.
 
The article is truly an insult to the intelligence of sinkies. Wonder how it will be viewed by the newly imported shitizens who should know by now they are also screwed like all the native sinkies.

CPF money belongs to the members, not to the Govt or the pappies. Every member should have a choice to withdraw all at age 55 or leave it with CPF Board. If pappies want to apply the same policy to everyone, the PRs should also be denied the right to withdraw their CPF when they are kicked out of SG or get their pay out only after age 65. Why one rule for sinkies and another rule for PR?
 
last election, scare mongering on possbile lost of foreign minister gerogie yeo will impacted on global politics, aljunied will turn into slums and ghetto...

contrary, sinkieland gone strength to strength economically.. this shows who are the bigger liars !

Pappies always see sinkies with no balls or just with small balls, easy to frighten off with some "cry wolf" tales. Times have changed. Aljunied GRC is still doing well and LKY was proven wrong. Pappies know it but refuse to admit it.

The Roy fellow is a product of the changing time. If LKY was in charge, Roy would not have the gut to say his piece. LKY would not serve him legal letter; he would bring out his hatchet from his bag.
 
Mr Jason Soon Hun Khim, even if the above mentioned happen, it is oso none of your business because it is CPF members' rightful MONEY, how they spend it is none of your business.

True. How I spend my CPF money is none of the pappies' business.

It is better that I have the money in my pocket than to have my money locked up with the pappies and I have to eat porridge every day when I can easily eat 3 meals a day in restaurants with the money in my own pocket.
 
Dumbass opposition supporting idiots. The author is absolutely right, its because of idiots in the past that spend their money in Batam that we have the scheme not. It's not a matter of IF, it had happen before

Only idiots or the super rich do not clamour for full withdrawal of CPF money at age 55. When you need money for daily expenses, medical care, children's education etc, you can see the money in CPF but cannot withdraw. It is real heart pain. One man was said to have committed suicide due to this kind of desperation.
 
perhps legalised organ trading, HOTA HUB! squander CPF? sell kidney!
 
Last edited:
Jason Soon Hun Khim

such matured wisdom displayed by this man, may his wish of his CPF be locked be granted. it doesn't negate any effort on my part to get more folks to vote the PAP out :):):)
 
Are you due to draw your money already?

One day....I will, but that day may never come, while the people whom I entrusted my, hard earned, blood sweat & tears savings..keep changing the rules & become nanny to my money. How can I trust these people, how can we be so trusting, people with our money.

Like I had said, even my own mother I had difficulty in trusting, not that I don't trust her...with some lapses in memory due to age, she had donated some of our combine savings to Charity.

Then, with those holding mine, with some lapses in investment judgement... I may see very little of what there is saved, when I can withdraw them....the whole issue is....we can't trust them anymore.
 
such matured wisdom displayed by this man, may his wish of his CPF be locked be granted. it doesn't negate any effort on my part to get more folks to vote the PAP out :):):)

Jason...& many will come forth are ghost writers.....will come & espouse the failability of us, unable to hold on to our savings & will squander them only the PAP is able to help keep our money, & will not squander them, is the saviour to us all....damn right! RIGHT?:rolleyes:
 
True. How I spend my CPF money is none of the pappies' business.

It is better that I have the money in my pocket than to have my money locked up with the pappies and I have to eat porridge every day when I can easily eat 3 meals a day in restaurants with the money in my own pocket.

Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.

BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.

Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.

Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.


GET RID OF THE POISON IN SINGAPORE
HANG ALL THOSE FUCKING PAPs AND THEIR COLLABORATORS
BBQ THE BASTARD PAPs

AND SINGAPORE CAN BE AS GOOD IF NOT BETTER THAN SWITZERLAND

OR REMAIN HEAD DOWN DOWN AND ARSEHOLES UP HIGH HIGH TO BE FUCKED TO BE TIEWED TO BE KANNED BY THE PAP MAGGOTS COCKROACHES

Kill them all PAPs
Let GOD sort out the good from the really bad ones
The good PAPs can then eat joss sticks and candle wax from time to time
The bad PAPs like smear of shit on sole of shoe LKY will be raped and tiewed and kanned by legions of ghouls and demons and not ever
get time off to eat joss sticks and candle wax

Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.

BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.

Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.

Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.


None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.

They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP.

Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.

Despite the leeching and fucking of singaporeans by the cheebye PAP and LKY, Singapore still managed to survive to date.
Despite their being hung as a fucking millstones around the necks of Singaporeans and the idiocy and corrupt manipulations of PAP and LKY, Singapore still not dead yet.

WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS

WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN

WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.

AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.

https://www.torproject.org/about/overview.html.en
 
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