20121202 PAP’s private sector is not the real private sector

I refer to “CEO of IE Singapore to step down from Dec 31”.

PAP-appointed CEO Teo Eng Cheong, husband of it’s-not-the-govt’s-job-to-love-Singaporeans SMOS Josephine Teo, is reported to be leaving to join the “private sector”. As usual, Teo is praised to the skies but what is not mentioned – Teo is being recycled to Surbana Jurong (CNA article).

Backed by the “coffers of Temasek”, ie tax dollars, Surbana Jurong is definitely not in the private sector; it is a state-owned company with only 2 shareholders, Temasek Holdings (51%) and JTC (49%). Hmm .. was there some confusion because ‘private limited’ was attached to its name?

Truth be said, only a handful of PAP politicians will be employed in the real private sector, ie non-government linked, and that’s not because of their relevant experience but ‘connection’. Due to PAP’s non transparent and unaccountable system. the ‘success’ of its politicians is highly questionable. That’s the reason why most continue to depend on welfare from taxpayers until they kick the bucket.

Goh Chok Tong comes to mind and he’s really not ‘pai seh’ to continue receiving an MP allowance at 74 after having received millions of tax dollars his entire life. If there are other sources of tax dollar income, shouldn’t it be disclosed in parliament?

After Mas Selamat-is-in-Singapore-or-outside-Singapore Wong Kan Seng left the cabinet, he has continued to receive tax dollars as an MP until 2015 and chairman of Singbridge Holdings, a Temasek company. So did Lim Boon Heng who became chairman of Temasek Holdings and many others.

PAP politicians may aspire to join the real private sector but no company will never risk employing them in any leadership position. There isn’t even one successful paper general in the private sector on this planet because these Yes-jokers can only function in a system where they are not held accountable and there’s no transparency.

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3 Responses to 20121202 PAP’s private sector is not the real private sector

  1. abpap says:

    I still remember when lhl announced that he was sad to lose Matthias Yao as Minister to the private sector when he joined money-losing NOL. So as far as lhl is concerned, anything outside the ministries is private sector. That is so stupid

  2. abc says:

    Don’t forget that people like GCT, MBT, WKS, Raymond Lim, Lim Boon Heng, Nathan, etc have been receiving up to 2/3 of their last drawn salaries.

    This is becoz they fall under the pre-2011 pension scheme for political holders. Current oldies like LHL, KBW, VB, TCH, Yakult, Tharman, Shanmu, Sia Suay, Iswaran, Lim Hng Kiang, Gan Kim Yong, Ng Eng Hen, Gracefool, Jos Teo, and many many others also qualify for pre-2011 lifetime pension.

    As for PAP MPs and ministers being worth the same level as top private sector salaries, just look at the key personnel of former PAP Aljuneid team: George Yeo, Lim Hwee Hua, Zainul Abidin. Those who managed to get into private sector companies are now earning just 10% of their former PAP salary. E.g. $10K-$20K a month instead of $150K-$200K a month previously. Many have given up having to work at all, and just enjoy their lifetime pension & free A-class medical scheme. Ever wonder why they don’t bother to continue being active in grassroots and to stand for elections?!?!

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