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7/16/2010

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.

6 comments:

Wally Buffet said...

A dream within a dream.

An illusion within an illusion.

A mirage within a mirage.

Zillions, Trillions, Billions, Millions.

Of what?

Anonymous said...

The money in Temasek and GIC is not the people's money any more. It is the Government's money, and the Government's money is as good as belonging to the PAP to control and dispose off any way they like. Having many keys is useless. Who pays the key holders? Why did they say that we cannot touch the money? Hehehe.

Those who think otherwise, keep dreaming, watch the illusionist and run towards the mirage. Nothing is there in the end.

Anonymous said...

It used to be higher, I thought or am I wrong? Anyway, money that the people have no share at all should'nt bother us, the plebeians.

patriot

Anonymous said...

Share with citizens? Dream on!

Redbean is rather optimistic, talking about being given a goose drumstick. One fine day they will slaughter the goose, run away with the meat and drumstick, and throw the bones and feathers for Singaporeans to share.

By then it will be too late to worry about how much Temasek or GIC is worth. Even your CPF may not even be there at this very moment.

Why have we ended up like this? Because they said we are ignorant. Now, thats adding insult to injury.

Anonymous said...

Felt like LSS...i feel so rich

Anonymous said...

Oh, that buffoon is rich man ! Imagine paid by the millions of SIN Dollars every year just to make singaporean laugh and nothing else.