Monthly Archives: May 2017

CPF Board works against Singaporeans’ interests, in cahoots with PAP

The CPF scheme is a scam which continues to be covered up by the PAP-controlled Parliament. Once transparency sees daylight, the scam will unravel, as with all other scams. CPF Board is controlled by PAP-appointed CEO RADM (NS) Ng Chee … Continue reading

Posted in CPF, GIC | 10 Comments

GIC’s Citi investment was based on …. pure luck

Time to set the record straight on GIC’s Citi investment: it was pure luck. In Jan 2008, GIC had invested US$6.88 billion in 7% convertible preferred securities with a conversion price of US$26.35, ie GIC saw value in Citi at … Continue reading

Posted in CPF, GIC | 5 Comments

GIC should disclose other underwater CPF investments, don’t impress Singaporeans with half truths and propaganda

GIC’s UBS investment possible losses may be the largest but there are numerous undisclosed mini UBSes. The government must cease disseminating half-truths to impress Singaporeans that all is well at GIC when it is clearly not. For example, the massive … Continue reading

Posted in CPF, GIC | 1 Comment

GIC still trying to save face after massive UBS loss, “combined strategy” made peanuts returns

CPF fund manager GIC was reported to be facing a possible record loss of US$4 billion on a single investment. “GIC faces possible US$4b loss on UBS bet: IFR” There are of course many more underwater investments which is why … Continue reading

Posted in CPF, GIC | 1 Comment

GIC chut pattern, comes up with non-existent ‘combined strategy’ after record loss in a CPF investment

I refer to “GIC pares stake in UBS at a loss; combined strategy with Citigroup sees positive return”. link GIC should not attempt to mislead Singaporeans by linking an individual losing investment (UBS) to another profitable one (Citi). Fact: GIC … Continue reading

Posted in CPF, GIC, POLITICS | Leave a comment

Biggest CPF investment suffers massive loss

I refer to Bloomberg article, “Disappointed with UBS loss, Singapore’s GIC fund cuts stake”. link GIC is now paying the price for speculating in UBS at the height of the subprime crisis. With government blessing, GIC had pumped in S$14,000,000,000 … Continue reading

Posted in CPF, GIC, POLITICS | 3 Comments

Government should recognize contributions of full-time mothers with token contribution towards their retirement

I refer to “Mothers the ‘pillars’ of families: PM Lee in Mother’s Day post”. The PAP government knows that talk is cheap and has kept on talking and talking about ‘one of the toughest jobs’. Many elderly mothers were once … Continue reading

Posted in POLITICS | Leave a comment

Minister Josephine Teo’s most profound statement: milk is milk

The amount of rubbish spewing from PMO Minister Josephine Teo’s mouth is just incredible. Recall that Josephine was the joker who once said: About 7 months ago, she became a sex expert overnight and encouraged Singaporeans to make babies, no … Continue reading

Posted in POLITICS | 2 Comments

Why Singapore has the lowest home ownership rate in the world

According to numerous sources, Singapore’s home-ownership (HO) rate is almost at the top in the universe. The PAP government has managed to achieve this impossible feat in less than 50 years. But as we all know, if something is … Continue reading

Posted in HOUSING, POLITICS | 8 Comments

Did PAP increase tuition fees/decrease funding of Singaporean undergrads to subsidise foreigners?

Government statistics (below) have confirmed that PAP has spent the least on Singaporean undergrads vs other students. From FY2010 to FY2015, an undergrad saw a paltry increase of only $1428 or 7% in government expenditure. (Almost 80% of NUS student … Continue reading

Posted in EDUCATION, POLITICS | 3 Comments