Monthly Archives: March 2019

PAP appointed former SAF scholar Poh Li San for T4 project, risked $1 billion Ah Kong money

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If Temasek CEO Ho Ching, PM Lee’s wife, is paid more than $50 million a year, will PAP face voter backlash?

BHP Billiton paid Charles Goodyear BP23.82 million the year before he was appointed Temasek CEO-Designate. Using the mid year exchange rate of BP1 = S$2.7, Charles annual remuneration was S$64.3 million. Logically, Charles could not have been offered anything less by … Continue reading

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Temasek ‘investing’ = Sitting on multi-billion dollar StandChart losses after 13 years?

Temasek made headlines in 2006 when it paid BP2.3 billion for a 12% stake in Standard Chartered Plc at about BP15 per share. In the subsequent 2 years, its stakes were raised to more than 19% because Temasek “saw value … Continue reading

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Did Temasek lose more than S$500 million selling 63 million StandChart shares to GIC?

For years, Temasek owned 18% of StandChart (high of 19%).  Some time in 2016, this was reduced to 16%. It appears the 63.8 million shares (link) amounting to an estimated S$765 million were sold to GIC. (estimated StandChart share price BP6, … Continue reading

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Temasek concealed a $2 billion loss in 2016

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Future PM Heng misled and lied about HDB flat buyers’ status, unfit to lead

PAP has realized that an increasing number of citizens have woken up to the HDB scam: ‘Owners‘ have in fact all along been ‘lessees‘. 2 days ago, PM-to-be Heng Swee Keat repeated hogwash by his cabinet colleagues: HDB dwellers are ‘owners’. (“HDB flats … Continue reading

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Is MINDEF’s budget properly disclosed?

Not sure if this (edited table below) is proper disclosure by MINDEF.  Breakdown on amount spent on NSFs, NSmen, etc  are also not published. In fact, political salaries do not tally with the number of political appointment holders for most ministries.  (link, see … Continue reading

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PAP propping up prices of older resale HDB flats before GE2019

In 2013, PAP drastically reduced the amount of CPF usage for HDB flats with less than 60 years’ lease. The reason: Too much CPF has been used to finance housing. Prices have collapsed and transactions reduced to a trickle. Retirees who … Continue reading

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NEA CEO – former paper general – to help PAP squeeze more from Singaporeans, ‘ERP’ system to limit household waste akan datang

All PAP-appointees – million-dollar top civil servants, stat board CEOs and GRC-backdoor politicians – are beholden to PAP. It therefore shouldn’t surprise anyone that these guys – they can’t earn such obscene pay in the real private sector – will … Continue reading

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PAP amended Constitution to classify land sales revenue as Past Reserves, hundreds of billions channeled into GIC

Under the Constitution, ‘Past Reserves’ are not available for budgetary spending. Land sales revenue (LSR) was classified by PAP as ‘Past Reserves’.(At the stroke of PAP’s pen, GIC has been gifted with more than $10 billion annually from land sales revenue since … Continue reading

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