Category Archives: FINANCE

Spending estimated, unearned returns under NIR framework = Spending our children’s future

PAP has been tweaking too many legislations in the hope that Singaporeans will be confused and give up questioning. It’s about time we sit up and scrutinize PAP, eg the NIR framework. MOF: “Prior to FY2009, there was only the … Continue reading

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Singaporeans taken for another ride: Imprudent spending = Prudent spending

Singaporeans should be wary of tweaks to legislations with regard to state finance. So long as GIC’s and Temasek’s books are off limits to everyone except a handful of ministers and PAP elites, Singaporeans will never know the true state of … Continue reading

Posted in FINANCE, GIC, POLITICS, TEMASEK | 3 Comments

Stock market poised for sharp correction?

Technical indicators on the STI chart have been diverging for an extended period. Caution is warranted, especially for short-term traders. STI rally is also largely driven by DBS, OCBC and UOB which appear to be running out of steam. DBS … Continue reading

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20160420 Budget 2016: the deception continues (2)

With reference to my post “Budget 2016: the deception continues” and PAP’s recent ‘clarification’ “Why are some revenues not included in the Budget Statement”. PAP: “…Land sales form part of Singapore’s Past Reserves, which are invested”. PAP should not continue … Continue reading

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20160305 Supplementing our budget through NIR framework = reserves drawdown

The government has repeatedly stated our reserves must be spent prudently. However, it has been able to dip into the reserves with no accountability via the NIR framework. According to the MOF, the returns from our reserves are used to … Continue reading

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