MBT ... The richest politician next to LKY???

[karmabear]

I understand that MBT has an investment fund with one of our local houses. Size of vehicle is in excess of US$30 million just to invest in securities, not property. this boggles the mind. $30 million to invest in stocks with just one investment house. Is that the average? Will he have more than one investment fund? Highly likely as who puts all his eggs in one basket? How much does he have in local and overseas properties? How does a minister even drawing $4M accumulate so much wealth? How much has the property developers rewarded MBT during his reign of terror over HDB? Is MBT the first politician billionaire? Some deep questions need to asked.

 

[GOD IS MY DOG]

others are far richer lah.............those guys like that useless statue Teo Chee Hean and Tony Tan are from banking families........


MBT is a drop in the ocean compared to them.........


so the short prick is heavily invested in stocks ? GOOD...........GOOD..............


let's see if he'll jump from building when the markets crash.............

 

[myfoot123]

They sucked tax payers money, screwed up policies. made the people suffer and now live like saint. These people better start praying everyday and eat vegetarians for the rest of their life before they answer to their maker.

 

[karmabear]

If they are from rich families, nothing to say. But MBT always say he comes from a poor family. So how he get US$30m to invest in stocks and bonds? He been drawing $3m for 10 years? What about his other assets? Property? Other funds in other investment houses?

How does a politician legitimately earn so much money?

 

[GOD IS MY DOG]

If they are from rich families, nothing to say. But MBT always say he comes from a poor family. So how he get US$30m to invest in stocks and bonds? He been drawing $3m for 10 years? What about his other assets? Property? Other funds in other investment houses?

How does a politician legitimately earn so much money?

with political connections..........sure have a lot of business lobangs mah............

plus got insider info to speculate on shares and properties mah...........

 

[Kuailan]

We all Sinkapoorean are sleeping, this year Ministers get 8 months Bonus this is for all gahmen civil servants. But ministers actually gets more based on GDP percentage, they get equivalent to 48 months bonus!!! Yet nobody know about it!

So now who is raiding the Sinkapoor Reserve?

Correct me if I am wrong this info is from a fren who told me, I got a shock!

If info is wrong I go bang my fren on the head!

 

[Bigfuck]

I understand that MBT has an investment fund with one of our local houses. Size of vehicle is in excess of US$30 million just to invest in securities, not property. this boggles the mind. $30 million to invest in stocks with just one investment house. Is that the average? Will he have more than one investment fund? Highly likely as who puts all his eggs in one basket? How much does he have in local and overseas properties? How does a minister even drawing $4M accumulate so much wealth? How much has the property developers rewarded MBT during his reign of terror over HDB? Is MBT the first politician billionaire? Some deep questions need to asked.

30 million is peanuts.

 

[cleareyes]

I understand that MBT has an investment fund with one of our local houses. Size of vehicle is in excess of US$30 million just to invest in securities, not property. this boggles the mind. $30 million to invest in stocks with just one investment house. Is that the average? Will he have more than one investment fund? Highly likely as who puts all his eggs in one basket? How much does he have in local and overseas properties? How does a minister even drawing $4M accumulate so much wealth? How much has the property developers rewarded MBT during his reign of terror over HDB? Is MBT the first politician billionaire? Some deep questions need to asked.

Anyone checking out MBT's house at Nukit Timah?

 

[longbow]

Someone should do a Forbes style top 20 riches politicians in Singapore. Many are sitting on big pile of cash. As a minster you are provided with car and most of your time is spent dining, so $ not spent. Many of their children are smart and make it on government scholarships, so again, free education.

On top of that, those with working wives (lawyers, engineers) likely do well given the fact that hubby is ministers - As MM said, even "Char Kuey Teow man give you more egg". Nothing wrong here, just a fact of life. If they buy property, developer give them their best units due to "more egg factor".

So after 10 years as minister it is possible for ministers to be worth $30 to $40M - that is if they are conservative. Much much more if they want to punt a little.



Over a period of 10 to 15 years, that $2M a year piles up

 

[steffychun]

I understand that MBT has an investment fund with one of our local houses. Size of vehicle is in excess of US$30 million just to invest in securities, not property. this boggles the mind. $30 million to invest in stocks with just one investment house. Is that the average? Will he have more than one investment fund? Highly likely as who puts all his eggs in one basket? How much does he have in local and overseas properties? How does a minister even drawing $4M accumulate so much wealth? How much has the property developers rewarded MBT during his reign of terror over HDB? Is MBT the first politician billionaire? Some deep questions need to asked.

You mean LHL is poorer than him?

 

[karmabear]

So after 10 years as minister it is possible for ministers to be worth $30 to $40M - that is if they are conservative. Much much more if they want to punt a little. Over a period of 10 to 15 years, that $2M a year piles up

That's not possible. They are supposed to contribute a significant percentage to PAP. More importantly, would you put ALL your wealth into stocks and bonds and leave them to one single local investment house? Bear in mind $30M is not small change. The only logical conclusion is that he is worth much more than $30m.

LKY is full of crap as usual. Boasting that PAP is not corrupt, hence the justification for higher salaries. Well, you have alarm bells ringing in this case. Start investigating!

 

[scroobal]

Looks like you guys are unsure how these things work.

Family members usually the wife or adult children are placed on the list or asked to be placed on the list of developers. The list is for soft launches for high end condos. The discount is around 5% from the official price. To the developer, celebrities and establishment figures are a magnet to draw other house buyers and investors.

These connected people will flip the property a few weeks to a few months after purchase where the value increases much more than 5% and more in the range of 20%. The units picked are the best and carries a premium.

No different to old mans daughter buying two units and flipping one which was disclosed during the Nassim Jade saga. Another interesting pair is Lim Chong Yah and her daughter, the one who is a journalist. The ladies typically are the proxies but are told what units to pick.