PM Press Sec Rebut FT Article On Spore

[makapaaa]

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Coffeeshop Chit Chat - PM Press Sec Rebut FT Article On Spore</TD><TD id=msgunetc noWrap align=right>

Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">SGNEWSALTE <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">9:11 pm </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 5) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>7932.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>http://www.ft.com/cms/s/0/56d61200-02de-11de-b58b-000077b07658.html
Singaporeans understand the perils of an open economy

Published: February 25 2009 02:00 | Last updated: February 25 2009 02:00

From Mr Chen Hwai Liang.
Sir, John Burton ("Crisis spoils Singapore celebrations", February 12) claimed an undercurrent of public discontent with the People's Action party (PAP) government, as Singapore goes into a sharp recession. Unfortunately, the online poll he cited was from a website devoted to anti-government invective.
Singaporeans may be apprehensive about the financial storm raging around us, but we understand the inescapable vulnerabilities of a small, open economy, and what we must do together to pull through. At the next general elections, voters will decide whether this PAP government has served them well.
Mr Burton also highlighted losses from specific investments by Singapore government-owned entities in western financial groups. GIC and Temasek have diversified portfolios aimed at long-term returns. Their performance is not measured on each individual investment but on the entire portfolio.
They have suffered overall losses in this crisis like most investors in public listed assets, but by less than the decline in market indices.
Over the 20-year period up to March 31 2008, GIC earned annualised US dollar returns of 7.8 per cent, while Temasek earned 19 per cent.
This is not a disreputable record.
Chen Hwai Liang,
Press Secretary to the Prime Minister,
Singapore


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[makapaaa]

Crisis spoils Singapore celebrations

By John Burton in Singapore
Published: February 12 2009 00:10 | Last updated: February 12 2009 00:10

<SCRIPT language=javascript type=text/javascript>function floatContent(){var paraNum = "4"paraNum = paraNum - 1;var tb = document.getElementById('floating-con');var nl = document.getElementById('floating-target');if(tb.getElementsByTagName("div").length> 0){if (nl.getElementsByTagName("p").length>= paraNum){nl.insertBefore(tb,nl.getElementsByTagName("p")[paraNum]);}else {if (nl.getElementsByTagName("p").length == 3){nl.insertBefore(tb,nl.getElementsByTagName("p")[2]);}else {nl.insertBefore(tb,nl.getElementsByTagName("p")[0]);}}}}</SCRIPT>When an apparently deranged man in Singapore set fire to his parliamentary representative at a community event recently, a local website polled its readers to ask which of them deserved more sympathy. By a four-to-one margin, the readers voted for the assailant.
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</TD></TR><TR><TD vAlign=center align=left width="100%">Firm line: Lee Hsien Loong, the prime minister. He recently praised one-party rule for promoting administrative efficiency and good policymaking</TD></TR></TBODY></TABLE>The episode appears to reflect an undercurrent of public discontent with the People’s Action party (PAP) government, which celebrates its 50th anniversary in power this year, as Singapore confronts its worst postwar recession, with the economy expected to contract by up to 5 per cent.
The PAP government has long been one of Asia’s most secure. Singapore’s dominant one-party system has set an example for countries such as China, Russia and the Gulf states. Their leaders “are picking up points here and there” about how Singapore can “keep its ruling party in place and run a tight ship, honest and effective”, says Lee Kuan Yew, the city state’s founding father.
EDITOR’S CHOICE

Analysis: Unlucky numbers - Feb-09


Lex: Asian lenders - Feb-02


Singapore unveils $13.7bn stimulus package - Jan-22


Singapore may tap reserves amid recession - Jan-19


Careers Asia: Singapore gripped by employment squeeze - Jan-15




But the economic crisis is putting Singapore’s political system to its severest test since independence in 1965. “Officials appear scared about the public reaction. I’ve never seen them so concerned before,” said a Singapore-based regional political analyst.
The economic downturn threatens to expose some of Singapore’s vulnerabilities, including a wide gap between rich and poor and a heavy dependence on foreign investment for growth.
The recession also comes at a challenging time, when the city state must find new manufacturing industries to replace the declining electronics sector and as it embarks on an ambitious plan to become the Monaco of Asia, with private banking and gambling as growth sectors.
The PAP has stayed in power because of an implicit social bargain that it would deliver prosperity in return for restrictions on political freedoms. It has justified its strong rule by saying that liberal democracy could prove divisive in a multi-ethnic society such as Singapore, with its ethnic Chinese, Malay and Indian populations.

Lee Hsien Loong, the prime minister and son of Lee Kuan Yew, recently praised one-party rule for promoting administrative efficiency and good policymaking, compared with malfunctioning” Asian democracies such as Taiwan, with a troubled economy, polarised politics and widespread corruption.
“I don’t think you want that kind of political system in Singapore,” he told the annual PAP congress.
Terence Chong, of the Institute of Southeast Asian Studies in Singapore, says: “Political order and economic stability may go hand in hand, but there is increasing awareness, even within the PAP, that that may no longer work.”
He points to a feeling that the PAP is “out of touch with the general suffering”.
In November, Singapore said it would cut the 2009 salaries of senior government officials by up to 19 per cent in response to the slowing economy.
The government also said recently that it would tighten already strict rules on public assemblies to prevent acts of civil disobedience. But civil activism is growing, and the government is coming under increased scrutiny and criticism on the internet.

The party of government
The People’s Action party has dominated politics in Singapore since 1959, writes Jack Farchy in London. When the British granted internal self-government in that year, party leader Lee Kuan Yew led it to an outright majority in elections for the first fully-elected parliament,
The party has won a majority of seats in every general election since. PAP control of Singapore continued unchallenged until 1981, when the first post-independence opposition MP was elected. There are now two.
Lee Kuan Yew stepped down as prime minister in 1990. He was replaced first by Goh Chok Tong and later Lee Hsien Loong, the current prime minister and son of Lee Kuan Yew, who took office in 2004.

​

“The government hasn’t helped matters by losing billions of dollars by investing in Citigroup and Merrill Lynch,” says a foreign businessman, referring to the $24bn (€18.6bn, £16.7bn) invested by Singapore’s sovereign funds in western financial groups. “The crisis is proving to be a reality check for the authorities.”
Officials are hoping to address public concerns with the recent announcement of a S$20.5bn ($13.6bn, €10.6bn, £9.5bn) stimulus package.
Manu Bhaskaran, of Centennial Group, an economic consultancy, also argues that support for the government remains strong in comparison with neighbouring Malaysia and Thailand, “where there is corruption and mismanagement”.
He adds: “The population doesn’t want to rock the boat in an economic storm and it will support the government, which has a strong record of economic progress and political stability.”
But an element of uncertainty remains about the depth of public support. A third of Singaporeans normally vote against the PAP, despite the weakness of opposition parties. The government must call an election by November 2011. It may decide to call a snap election this year if it fears that the economy will not recover in the next two years, when public discontent might be stronger.
While the PAP is expected to return to power, its nightmare result would be to lose one or more of the five or six-member group representation constituencies (GRCs) that dominate the parliamentary system. Voters cast a single ballot for a party slate of candidates. The opposition, which now has only two seats in the 84-member chamber, would gain its biggest representation in more than 40 years.
“The loss of a GRC would be a psychological blow to the PAP and might encourage more Singaporeans to join the opposition,” says the local political analyst.


Copyright The Financial Times Limited 2009

 

[Nice-Gook]

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Over the 20-year period up to March 31 2008, GIC earned annualised US dollar returns of 7.8 per cent, while Temasek earned 19 per cent.
This is not a disreputable record.
Chen Hwai Liang,
Press Secretary to the Prime Minister,
Singapore


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<style></style>Wah Piong.This is indeed astonishing.19% RETURNS ANNUALLY !!!!!!.

If anyone in this world can achieve 19% returns consistently over 20 years than he or she would be the 9th wonder of the world.Why than this covert operation called Tamasek Holdings?I am certain if the world knew of such a breathtaking feat every billionaire would want to pour money into Tamasek.

Does anyone believe this crap?

 

[commoner]

hey, I say Temasick generates a 50% annualised return also can, GIC 100% return also can,,,

who vet and audit the books ,,,,, what a joke,,, and the report is to March 2008.... why because after March 2008, Pinkie no mood about investments liao, see father/wife lose so much money in the finiancial casino,,,,

if you look at the returns of some listed companies in Singapore for past 10 years, returns is 20% and above,,,,

Wanna compare with which index? MSCI? WHen index climbs 50%, did the Temasick did better than 50%? Compare si mi lan cheow,,,,,,,

 

[Nice-Gook]

Oii the quantum of the money matter.Why har? If you sell mee siam mai hum the profit margin is 200%.Try selling government bonds and see what the returns are.

 

[annexa]

Why must Civil servant write for PAP? He paid by Singaporeans or PAP?

 

[Nice-Gook]

Why must Civil servant write for PAP? He paid by Singaporeans or PAP?

<style></style>It is a simple spin of course.It goes like this.We started with only 100 million.We had till last year about 400 billions.So we lost 200 billions.So what !...we only lost some of the profits.We still made 19% profits every year yah....:p

 

[myfoot123]

With mass civil servants recruitment in the recent months. I am wondering where the money will come to feed those iron rice bowl. Foreigners who get hired by private sectors might get away from paying taxes due to depressed wages. Singaporean who can't find jobs in private sector might not have income to declare taxes. So what is the rationale of having foreigners who can easily run away and remit their money overseas leaving Singapore dry.

It is time to focus on local citizen, revamp the whole unfavourable situations that Singapore is facing big time. If we continue to put foreigners above all other policies, we are certain to doom. Only opposition can step in to make things right for us.

 

[po2wq]

... Sir, John Burton ("Crisis spoils Singapore celebrations", February 12) claimed an undercurrent of public discontent with the People's Action party (PAP) government, as Singapore goes into a sharp recession. Unfortunately, the online poll he cited was from a website devoted to anti-government invective. ...

ze original article by burton is http://www.ft.com/cms/s/0/8f3e5d78-f87a-11dd-aae8-000077b07658.html ...

in his article, ppl dint say info obtained fr which website woh! ...

can anyhow brush off wat other ppl said wif ... 'was from a website devoted to anti-government invective' meh? ...

 

[VIBGYOR]

<style></style>Wah Piong.This is indeed astonishing.19% RETURNS ANNUALLY !!!!!!.

If anyone in this world can achieve 19% returns consistently over 20 years than he or she would be the 9th wonder of the world.Why than this covert operation called Tamasek Holdings?I am certain if the world knew of such a breathtaking feat every billionaire would want to pour money into Tamasek.

Does anyone believe this crap?

No! Why quote your past success?

Why not quote the 200% GDP investment losses instead?

This man is not honest...I am surprised he's working for the PM.

Scary isn't it? LOL....

 

[SneeringTree]

HELLO?! Why should the Press Secretary of the Prime Minister respond to the newspapers? I thought GIC and Temasick Holdings are run independently of government influence? They should be the one replying to defend their record!

 

[commoner]

Pinkie is the XX of GIC, wife Hole Jinx is CEO of Temasick,,,, so secretary must answer lo,,,, they are independent alrite,,,, except sleeping partners in the same bed

 

[VIBGYOR]

HELLO?! Why should the Press Secretary of the Prime Minister respond to the newspapers? I thought GIC and Temasick Holdings are run independently of government influence? They should be the one replying to defend their record!

Temasick ex Chief->Ho Ching

PM - Ho Ching's husband?

Do you think Ho Ching is a good role model for her children?

 

[mscitw]

Lackey Chen is indeed a swine.

"They have suffered overall losses in this crisis like most investors in public listed assets, but by less than the decline in market indices. "

GIC and Temasek are staff by over-educated fat cats yet their losses are almost 30%. Lackey Chen says its peanuts compared to public bourses' losses of 50%.

But Lackey Chen did not say GIC/Temasek baboons lost $31 billion peanuts! In fact Lackey chen used GIC/Temasick's figures up to Mar 2008!!!

Lackey Chen is indeed a swine.

 

[sheryllim]

Taken from wayangparty:

http://wayangparty.wordpress.com/20...tacker-may-be-sentenced-to-life-imprisonment/

It was the same poll quoted by Lui Tuck Yew in Parliament.

ze original article by burton is http://www.ft.com/cms/s/0/8f3e5d78-f87a-11dd-aae8-000077b07658.html ...

in his article, ppl dint say info obtained fr which website woh! ...

can anyhow brush off wat other ppl said wif ... 'was from a website devoted to anti-government invective' meh? ...

 

[kaipoh]

why not, "monumental cockup"

 

[makapaaa]

<STYLE></STYLE>Wah Piong.This is indeed astonishing.19% RETURNS ANNUALLY !!!!!!.

If anyone in this world can achieve 19% returns consistently over 20 years than he or she would be the 9th wonder of the world.Why than this covert operation called Tamasek Holdings?I am certain if the world knew of such a breathtaking feat every billionaire would want to pour money into Tamasek.

Does anyone believe this crap?

66%: Oh, yes!

 

[makapaaa]

Lackey Chen is indeed a swine.

"They have suffered overall losses in this crisis like most investors in public listed assets, but by less than the decline in market indices. "

GIC and Temasek are staff by over-educated fat cats yet their losses are almost 30%. Lackey Chen says its peanuts compared to public bourses' losses of 50%.

But Lackey Chen did not say GIC/Temasek baboons lost $31 billion peanuts! In fact Lackey chen used GIC/Temasick's figures up to Mar 2008!!!

Lackey Chen is indeed a swine.

GeeAyeSee is a haven for young PRC, Viet and what-have-u-not FTrash who are here to made a fast buck before moving back to their home cuntry. Temasick prays host to Papayas' spawns.

 

[funglung]

<style></style>Wah Piong.This is indeed astonishing.19% RETURNS ANNUALLY !!!!!!.

If anyone in this world can achieve 19% returns consistently over 20 years than he or she would be the 9th wonder of the world.Why than this covert operation called Tamasek Holdings?I am certain if the world knew of such a breathtaking feat every billionaire would want to pour money into Tamasek.

Does anyone believe this crap?

LKY , PAP AND ALL THEIR SPIN DOGS ARE SO USED TO TELLING LIES
EVERYTHING THAT THEY DO ARE BUILD ON LIES AFTER LIES AFTER LIES.

AND THATS THE TRUTH.


GO ALL OUT TO KICK ALL THOSE BASTARDS OUT

ALL OF THEM

DO NOT WAIT UNTIL ELECTION TIME
THE TIME TO ACT IS NOW!

TALK TO YOUR FRIENDS AND YOUR RELATIVES.

SUPPORT OPPOSITION PARTIES WITH YOUR TIME AND MONEY AND STAND BY THEM AND WITH THEM.

THEY SPEAK FOR YOU AND TRY TO SPEAK FOR YOU.

NOT LKY AND HIS BASTARDS IN WHITE WHO ONLY WANT YOUR MONEY AND TO FUCK YOU.


IF NOT FOR YOURSELF, THEN FOR THE FUTURE OF YOUR CHILDREN

THERE WILL NOT BE AN OBAMA AS PRESIDENT OF USA IF THE CIVIL RIGHTS MOVEMENT THERE WAS INTIMIDATED BY BEATINGS AND LYNCHINGS IN THE PAST.


THE TOBBLING OF LKY WILL NOT BE EASY, AND CAN BE BLOODY AS WELL.
THEY WILL NOT GIVE UP THE BILLIONS THAT THEY SUCKED FROM YOU AND CAN CONTINUE TO SCREW FROM YOU NOW AND IN FUTURE.


ONLY YOU HAVE THE POWER TO SAY 'NO MORE OF THAT' AND THROW EVERYONE OF THOSE BASTARDS OUT






Sinkies must organise themselves

Show that they got balls and can stand up to LKY intimidation.

Big money at stake.

Already 400++ billions got sucked and bled by LKY into his Temasick and GIC

EVEN IF NO ELECTIONS, SINKIES MUST SPEAK WITH ALL THEIR FRIENDS AND ALL THEY KNOW

STAND UP TO THAT BASTARD LKY AND PAP BLOODSUCKERS

STAND WITH ALL THOSE THAT FIGHT BASTARD LKY

OR STAND UP YOURSELF IN YOUR CONSTITUENCY

DONT BE BULLIED BY THAT FUCKING COWARD LKY USING HIS CORRUPT KANGAROO COURTS AND ALL THAT HE CAN, AND WILL THROW AT YOU