Monthly Archives: February 2018

Investment returns to supplement revenue: A PAP left to right pocket transaction?

Since 2000, about $108 billion in returns on our reserves (NIRC) have been used to supplement government revenue (image below). Although NIRC is supposed to benefit citizens, the reality is a high percentage of this ultimately find its way back … Continue reading

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Has the stage been set to reduce CPF Life payout post GE2020?

Undeniably, PAP is good at¬†increasing our costs or confiscating money from our CPF. ūüėČ In recent years, GIC has been hinting at lower CPF Life payouts by constantly reminding Singaporeans that it was expecting¬†lower returns. In 2014: In 2015, GIC … Continue reading

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Is there black hole in government reserves?

With an estimated more than $1 trillion reserves, there is no justification for another GST tax hike. That PAP has insisted on raising GST by 2% after GE2020 has raised concerns about the state of our reserves.¬† This is because … Continue reading

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Budget 2018: Minister Keechiu’s half truth raises more concerns on Singapore’s reserves

I refer to¬† “Preserving reserves signals to markets strength of Singapore dollar: Chan Chun Sing“. Keechiu Chan: “Keeping half of Singapore’s earnings from its reserves is important as it signals to currency markets the strength of the Singapore dollar.” It … Continue reading

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Lowest corporate tax among Asean countries attract foreign investors, not Singapore’s efficiency or ‘corruption free’ status

Many Singaporeans have been fooled into thinking that foreigners invest billions in little red dot because of our efficiency and being the least corrupt Asian country. While these factors do¬†play a part, a more important consideration is of course our … Continue reading

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Budget 2018: Minister Heng promotes PAP-affiliated company

Whenever PAP mentions any company in the media, it is likely to be linked to PAP, ie directors are former MPs/ministers or a TLC.¬† An example: “Pun Minister Heng Swee Keat displayed stroke of brilliance at Budget 2018” shows a … Continue reading

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Budget 2018: PAP tries to paint rosy picture of Singapore’s going-nowhere economy

Before Budget 2018 was announced, MSM had tried to paint a picture of¬†“Singapore’s strengthening economy”.¬† (Budget 2018: Economists expect bumper surplus for 2017) According to MSM’s sought-after economists like¬†OCBC’s Selena Ling, she¬†had expected an overall surplus of $5.41 billion for … Continue reading

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The $13.2 billion question: Pension Fund should not increase by $3 billion since 2011, number of pensioners dwindled after 3 decades

The PAP government has recently disclosed a shocking liability: $13.2 billion Pension Fund. (Statement of Assets and Liabilities) This is an increase of $1.85 billion over FY2015. PAP should clarify the need for an additional $1.85 billion because the pension … Continue reading

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DPM Teo: Civil servants get happiness out of Singaporeans’ happiness

Don’t know if DPM Teo was joking or not when he tried to justify paying¬†judges, Attorney-General, Auditor-General, chairman of PSC and other PAP elites¬†hundreds of thousand$$ in bonuses funded by tax payers. ūüė¶

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Time to review PAP ministers’ maximum 13.5 months’and PM’s 19.5 months’ bonuses

The 2011 ministerial pay review was just another wayang.¬† Although it has been 7 years since, their ridiculously-high maximum bonuses warrant another review. The cosmetic changes implemented by the PAP government – recommended by the PAP-appointed review committee – only … Continue reading

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