When transparency sees daylight, will S$1 = RM1?

The entire PAP government rests on a very shaky foundation; it has to continue projecting an illusion of success by engaging in state propaganda.

When transparency has been absent for more than 5 decades, rest assured the system is corrupt: skeletons are just waiting to fall out of PAP’s cupboard.  As they had recently.

With total control of the mainstream media, the illusion of a successful nation will continue to be perpetuated.  Foreigners are none the wiser because the source of their ‘news’ about Singapore is PAP propaganda, ie ultimately from our mainstream media.

When transparency sees daylight, it will reveal PAP’s hidden agenda in policy making and short-term planning.  For example, additional MRT lines were planned only after the population had overshot earlier projections.

And PAP also did not plan for infrastructure increase such as hospitals, resulting in up to a year of waiting time for a doctor appointment.

For the first time in history, realized and unrealized losses of state investments will be disclosed.  That PAP has pulled out all the stops to conceal information will mean that it won’t be a pretty sight.

Disclosure will shock not only Singaporeans but foreigners as well; the obscene remuneration of Temasek/GIC CEO and senior management will reveal cancerous greed in our government. Not forgetting multi-months’ bonuses for CEOs of stat boards.

Did PAP set up thousands of opaque GLC subsidiaries and fill them with former military personnel or civil servants?

How many ‘grassroots leaders’ have business dealings with government/related agencies?  5000?  10,000?

How much has PAP taken out from our reserves without the knowledge of Parliament?  $50 billion?  $100 billion or more?

Were past reserves converted from financial to land reserves 100 times?  500 times?

How much has been lost? $50 billion?  $100 billion?

Why have PAP-erected presidents, besides Ong Teng Cheong, been silent despite their role as the second key jaga of our reserves?

In a democratic country, these are questions which deserve answers.  Instead of assuring Singaporeans that all is well, we had one minister who disdained Singaporeans with a self-contradicting statement:
1transparency1Politicians, civil servants and military personnel really have no business in business.  When PAP appoints its cronies to senior management in GLCs – all without private sector experience – collapse is assured.

1transparency2All may seem well today but that’s only because unlimited tax dollars and public resources are at PAP’s disposal, for eg, the sale of state assets to boost Temasek’s coffers ($12 billion from power generation plants), extremely profitable Singapore Pools or POSB transferred to Temasek by PAP-controlled Parliament, etc.

When Minister Lawrence Wong insisted on keeping archived cabinet records secret forever, alarm bells should have rung.  It should be obvious to even an idiot that releasing decades-old cabinet records would not have led to better outcomes: for PAP.

So long as cabinet records are kept secret, the mastermind behind Operation Coldstore and Spectrum will not be known.  Disclosure will also confirm that the communist threat was all PAP propaganda to put away its political adversaries.

Governments don’t conceal information for the sake of concealment.  When a government conceals ‘too much’ information which belongs in the public domain, rest assured the information will prove to be severely embarrassing for PAP.

But nothing can be concealed forever and it would be better for Singaporeans to demand transparency from PAP today instead of continuing to hope that PAP had done no wrong.

As the majority of Singaporeans continue to live in la-la land, state finances may not be able to sustain another hit from a financial crisis.  Or investment losses from increasingly-larger multi-billion dollar investments.

The longer Singaporeans pray for a miracle, the worse it will be for our children.  Inevitably, lots of ‘state secrets’ must be disclosed.  By then, our asset values will disappear.  Or HDB apartments worth only a fraction of current values.

Our women may even become maids in other people’s countries.  😦

The Singapore dollar has been increasing from strength to strength for many decades.  Its continued strength depends on investor confidence which in turn relies on state propaganda and a non-transparent PAP government.

So long as foreign investors continue to be kept in the dark about the precarious state of our finance, unthinking Singaporeans will be able to put foreigners down when they travel to other countries.
1transparency3But what will happen when transparency sees daylight after shenanigans have been exposed?  Will S$1 = RM1?


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1 Response to When transparency sees daylight, will S$1 = RM1?

  1. Phillip
    You can rest assured that the major corporations like IBM, Exxon, Apple and so on have a relatively good picture of the country’s financial health. Either the govt provides the needed info top secretly without contravening any laws and the companies do their own due diligence through their risk assessment depts.
    The problem is that some of that info should also ne in the public domainso citizen can evaluate for themselves.

    Soon more surprises will come out.

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