Temasek's holding at record high
Temasek had announced that it's holding is now at a record high of $186 billion. I thought they had more. Anyway, what this crowing got to do with ordinary Singaporeans? Smile and feel happy, like looking at the CPF statement? One Singaporean wrote to the ST forum page today asking for this wealth to be shared among Singaporeans. No he did not ask for the golden goose to be slaughtered. He just asked for a drumstick, and as an example, he was talking about 20% of profits to be distributed to Singaporeans. He is not being greedy. He is thinking for the ordinary Singaporeans where a few hundred dollars each can go a long way. I think the answer is simple. For many good reasons, the money is untouchable or cannot be distributed to Singaporeans. First and most important of all reasons, it is not Singaporeans' money. Temasek is run as a private company and the money belongs to Temasek as a corporate entity. It is not Singaporeans' money. So don't ask for a share of it. The money is managed by a professional team of experts and they should be paid handsomely when there is big profit. When there are big losses, life goes on. Secondly, the money is a national reserve. This is the confusing part. It is not Singaporeans' money but I think it is part of our reserve. And the reserve is meant for the rainy day. So the more reserve we have, the better it is for the country. 30 years reserve, or 300 years reserve, even better. So who is going to benefit from this glowing report of $186 billion? I can't feel any sense of happiness at all.