7/24/2007

Spreading a second wing

The news of Temasek's investment in Barclay's Bank and $3 billion should greet Singaporeans as good news though there will be sceptics wondering whether we will lose the money if it does not turn out well. All investment comes with risk especially in foreign land where we have very little control over their political and legal systems. Such investments are welcome as there is really very little room to grow in our little corner. The world must be our oyster. Having said that, as a citizen who is seeing his CPF money being deferred from withdrawal till dunno when, I have my own concerns. I hope some parliamentarians will raise some questions in Parliament to comfort the people on their CPF money and that there is no relation between foreign investment and the deferment of the withdrawal of their CPF. The question is to clarify that people are not planning their big investments with the expectation that there is a cheap CPF fund available and that the money in the CPF should be kept as long as possible for their investment plans. Any CPF fund available should be incidental and be used only because it happens to be there and not the other way round, that the CPF fund must be made available for foreign investment. The CPF money is the people's money and must be quickly returned to their owners without anyone harbouring any strange ideas on how to hold them back and use them. The assurance that this is not the case is welcomed.

7 comments:

Anonymous said...

but neither the GIC nor temasek's money is from our pocket dun worry; not only that, this country's wealth is also not built by our efforts. the sum is too huge, it couldnt have been yours, since when you started to think it is your money? you can rest assured this is not the case.Sompa.

redbean said...

i must believe people who sompa.

but i still think i got $20 there. maybe drown in the sea of money.

Anonymous said...

Isn't Barclays in the news yesterday about massive losses in Bear Stearms hedge fund?

redbean said...

dun worry. they have done their homework and evaluated the business plan.

Anonymous said...

Just like they did their homework and due dilligence wrt Shin Corp ?

Khiat Han Hwee Adrian said...

No matter how we bang, how we shout, how we scream, they will not raise a hair for us.

Just pray hard that their investment make money. Thats all we can do.

redbean said...

good idea. just wish them well.