Majority of Singaporeans unlikely to sacrifice for Singapore Inc

When Singaporeans say we love our country, most are actually kidding.

Go ask wealthy foreigners who recently became new citizens whether they will die for Singapore or pack up and leave and you will know what I mean.

Even our own cock-talking PAP elites – who have gamed million$ from the system – are no different. Our paper generals, former ones like Keechiu Chan or one-shot-one-kill Ng, will probably be hiding in classrooms and not leading their men on the battlefield. Or maybe hide in any small space they could find when the enemy approaches.

When public property was damaged and set on fire during the Little India riot, didn’t our men in blue go into hiding instead of protecting our property?

I believe most Singaporeans were once willing to sacrifice ourselves decades ago because the state did take care of people’s needs; to reciprocate by protecting our home with our lives was a natural thing to do. No need to be told or engage in NS 50/National Day propaganda.

But after witnessing CEOs Lau Goh and Lee Hsien Loong transforming our country into the largest corporation in the universe, the situation today is vastly different. According to ‘CEO’ Lee:

To most new citizens and Singaporeans alike, Singapore Inc is more like a hotel today. Should there be a total loss of confidence in the government or a major crisis, most who could afford to pack up and leave will do so.

Since Singapore Inc is no longer our home but a home to everyone, who would want to die defending it?

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Did LKY say he wanted to be a dictator before our independence?

In 1960, LKY was reported to have said this in a radio interview:

Can anyone govern without consulting the people and still be serving?

Is PAP governing effectively by amending the Constitution to allow a racist PE?
Or locking up our CPF till we die?
Sure or not, pricing land cost in HDB flats without transferring strata titles is in our interests?
Was it also in citizens’ interests to be locked up for years, some for decades, because they spoke up for our country but were a threat to PAP?

It appears the seeds of an authoritarian government were already planted even before independence. 😦

Hmm … was LKY saying he wanted to be a dictator? What do you think?

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GIC masks its poor rate of return from CPF members by reporting in US$

GIC has been engaging in propaganda to ‘boost’ its performance, eg disclosing irrelevant information to mask its poor returns.

Since GIC invests in only foreign assets which carry high forex and political risks, one would have expected a higher rate of return. Instead, GIC has disappointed and due to its poor performance, it has forced PAP to pay low returns to CPF members for more than 2 decades.

In this post, we’ll take a look at its 5-year rate of return and GIC’s preference to disclose this in USD but not in SGD.

According to GIC, its 5-year rate of return in US$ has fluctuated between 2.6% and 12.4% since 2011.

From 2011 to 2016, US$ had depreciated in 4 out of 6 years (31 Dec exchange rate)**. By disclosing a US$ rate, GIC has therefore ignored the fact that our investments in SGD have depreciated. GIC has therefore been telling us half the story/half truth with regard to its investment performance.

In order to compute a US$ rate of return, the invested amount in SGD would first have to be converted to USD. To compute a SGD rate of return, the total returns plus capital in USD would have to be converted back to SGD at the end of the 5-year period.

An example using an initial capital of SGD 100 with a US$ 6.3% rate of return is shown in the table below.

From the table above, the 6.3% rate of return in US$ is in fact only 2.8% in SGD. This is due to the 15% depreciation of USD by the end of the 5th year. (Investing in foreign assets carry high risk.)

Using the same method of calculation, it can be seen that the 5-year rate of return from 2011 to 2016 in SGD is much lower than in US$ (table below).

Whenever US$ depreciated, the rate of return in SGD fell and vice versa.  GIC’s 5-year rate of return was below average CPF interest rates in 3 years, even negative in 2013.

But since returns would have to be eventually converted to SGD, shouldn’t GIC also disclose figures in SGD?

Should GIC be allowed to conveniently use the higher USD rate of return to mask its poor returns in SGD?

Hmm … why does GIC prefer to report its rate of return in US$ and not SGD?

Perhaps GIC does not want to cause panic among stakeholders?   Maybe CPF members should just act stupid. 😦

CPF members could easily achieve a 4.7 rate of return by investing in our local stock market. Why should GIC take high forex and political risks to achieve such low returns?

I should have used 31 March exchange rates instead.  There is a discrepancy and GIC’s rate of return should have been lower.  My apology.



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HDB lessees who still think they are flat owners should consider psychiatric treatment

Dear HDB lessees who still think you are flat owners

Many of you have been struggling to come to terms with your non-ownership status and the easiest ‘solution’ is to reject the unpleasant reality. But by your continued delusion, how does it resolve the issue of having been scammed?

The PAP government has a unique definition of ‘owner’ where it retains all ownership rights. HDB is therefore not merely telling a half truth but a blatant lie when it insisted that the:

And you were so easily fooled?

Please allow me to help you with another idiot-proof explanation to resolve your internal conflicts once and for all. 🙂

1. If you are a HDB flat ‘owner’, then you must also be implying that the government has made an error in stating your ‘lessee’ status @ Singapore Statutes Online. You think our top civil servants so dumb or what? 🙂

2. Is your Lease Agreement a legal instrument or a piece of tissue paper with words that are meaningless, all no pakai?

​3. Are you also saying the HDB website has lied by using terms such as “subletting”, “subtenants”, etc which clearly mean you are not the owner?

4. Do you really understand the meaning of “sublet”, “subtenant”, “lessee”, “lessor”, etc? If not, please look up the different dictionaries below.
Merriam-Webster “Sublet” – To lease or rent all or part of a leased or rented property.
TheFreeDictionary “Tenant” – One that pays rent to use or occupy land, a building, or other property owned by another. Can you guess the meaning of ‘subtenant’?
Collins “Lessee” – a person to whom property is leased; tenant.
Investopedia “Lessor” – The owner of an asset that is leased under an agreement to a (eg, HDB) lessee.

5. If you own your HDB flat, why must you seek approval from anyone to rent out your property, subject to even more regulations?

6. Why are you threatened with punitive actions such as compulsory acquisition of your flat simply because of your failure to register your subletting?

7. If HDB isn’t the landlord/real owner, how does it have any right to suka suka anytime or anyhow own self change the conditions for subletting? If you are the owner, doesn’t this right belong to you?

8. According to real estate experts, the fundamental difference between public housing and private is the ownership title. Please read Perils of owning ageing leasehold properties.
You could go to HDB and confirm if the strata titles were transferred to you when you bought the flat. If not, you are merely a lessee and HDB has lied.

9. Have you tried going to any bank to mortgage your flat? If you own, say, a HDB flat that’s worth $1 million, any bank would surely be more than happy to loan you $500,000. Truth be said, you can’t even get a $100,000 loan. In fact, not a single cent!
HDB flatHow could your $1 million HDB flat which you claim to own be worth nothing to a bank?

To sum up:

HDB lessees who continue to believe they own their flats are simply saying:
– Singapore statutes no pakai.
– HDB website contains serious errors.
– Real estate experts are wrong.
– Definitions of dictionaries incorrect.
– Banks are stupid.

Please take your time to think through this very important issue and if possible, discuss with family members or friends. If you still fail to resolve your internal conflicts this time round, you should seriously consider psychiatric treatment. 😦



Posted in HOUSING, POLITICS | 2 Comments

Singaporeans should start to help ourselves, don’t just hope for a miracle

PAP been enacting all sorts of nonsensical legislations to cow us into silence. There also appears to be a double standard in our law which favours a political party.

PAP has made a mockery of the law by controlling the Law Society for decades. Worse, hundreds of victims of travesty of justice have been suffering in silence for decades and many have died.

While lawyers may be speaking ill of PAP in private, 99% of lawyers here basically cowards afraid to engage PAP by putting their money where their mouths are.

Justice must be seen to be done but this is clearly not happening whenever PAP or their kakis are involved. 😦

The collective inaction of those in the legal profession has emboldened PAP to tweak legislations, thereby giving them more power. This vicious circle needs to be broken but with such a disgraceful legal profession, it will take a miracle. 😦

It therefore comes as a surprise that Tean Lim, a lawyer, has spoken up. It is obviously not an easy decision to speak truth to power and Tean really deserves our support.

Tean’s “Defamation 101” video project will help Singaporeans find our voices and I have decided to do my part, together with my brother and a few friends, with a small contribution.

I know there are many Singaporeans who want change but are reluctant to give their time or contribute even a few dollars. They should rethink their inaction.

Just attending rallies or listening to online videos of concerned citizens speaking up isn’t going to effect any change. Why should PAP own self change own self when it has all the power not to do so? Since when did emperors, kings or dictators wielding absolute power concede to improve the lives of downtrodden citizens?

Huge personal sacrifices have been made by those who speak up to make our country a better place for us and our children. Let’s begin to help ourselves by helping them and stop hoping for a miracle. 🙂

We could also donate to social media sites like TOC, TRE, etc. Or even contribute to rally organisers at Hong Lim Park.

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