6/04/2018

Singapore's elusive reserves

"For strange reasons, the PAP has refused to disclose the size of our past reserves.
For stranger reasons, past reserves could be depleted/kosong but Singaporeans will still be informed that the funds are still there....It’s about time President Halimah does her job and disclose the tens of billions that have quietly left our reserves.  Or have been lost."  Phillip Ang

Phillip Ang posted another article on the nation's reserves and questioned if there is any left and how much have been lost.

For a start, someone should raise in Parliament on the 28 times or 30 times that the reserves were drawn down during Nathan's watch. The people want to know the reasons for these drawdowns and how much were drawn down and how much were put back. We only learnt of these drawn downs but no details were given, or at least that is all I know.

Was the details made known when these were highlighted in Parliament? Can someone enlighten on these?

20 comments:

Titiana Ann Xavier said...

The PAP government will never reveal the true state of our national reserves. Only a regime change can bring that about. The present faked Malay President is dancing to the PAP tune and no Singaporean will be privy to the amount in our national coffers. The PAP government practises the same art of financial tai-chi used by Najib to hoodwink the masses.

Anonymous said...

In Malaysia, public suspicions that the Najib govt was funding the liability obligations of the 1MDB were confirmed after the fall of the Najib govt and the details were uncovered by the new govt.

Mat Salah said...

Reserves sure gone with the wind lah. Singaporeans taken for a ride liao.

Virgo 49 said...


JOKE of the Day

KBW to Mathathair: Next time no MONIES, don't anyhow sign contracts!

Mathahir to KBW: Your MRT always breakdown one.How to trust you all the way to KL??

Sucks

Anonymous said...

All I know is that SERS got drawdown reserves. Also the salary subsidy that govt provide to companies during from 2009-2011 to hire Sinkies above 35.

Also the land reclamation of Marine Parade, East Coast and Marina Bay. But this is before Prataman's time.

Not sure whether the casinos got reserves drawdown or not. How about all those new MRT lines? I think the initial east-west and north-south lines got use some reserves.

And the $1+ Billion for new buses to be given as presents to SBS and SMRT?? This wasn't budgeted for initially and was announced more as emergency response to the horrible public transport situation back in 2011/2012 (after GE2011!). The problem today has flip-flopped over more to the train side.

Anonymous said...

By telling us that the reserves must be kept secret because it concerns the national security of the country, it means they can do whatever they like with it, and no one can ask questions because it is, well, something of national security.

Big words that drowns all attempts to find out, and make it so secretive that even the late President Ong Teng Cheong was not allowed to know. For insisting that he must know, OTC was forcibly removed.

Do we honestly believe Prataman knew how much was the reserve during his watch? What about Tony Tan and what about Harimau? Do they know? If not, what are they protecting?

Oh, I forgot that they needed 50 years to calculate, so they are still calculating.

Anonymous said...


dont waste time lah

even with refusal to reveal the national reserves for so many many many moons

still got 70% at last ge

some even projected 80% at next ge

sg is like that liao

just know how to kpkb kpkb and kpkb

anyway.....sg is no my......maybe in the dream.......

correct?

Anonymous said...

Keeping quiet 'buay song'

Chwee Kong Lampar Song.

Correct?

Anonymous said...


Bingo!

Anonymous 3.43pm is 1oo% correct!

Hahaha.

Ⓜatilah $ingapura⚠️ said...

@ 307

>> By telling us that the reserves must be kept secret because it concerns the national security of the country, it means they can do whatever they like with it, and no one can ask questions because it is, well, something of national security. <<

Yes, and the tactic is so robust that even mentioning it or telling the unaware people about it doesn't change a damn thing. They won't disclose the amount, and that's that.

Also The Sheeple have no leverage in this matter. The State can do as it pleases for any reason you or it it imagines, and no one can do Jack Schitt about it. 🤣

Got Absolute Power? ☠️

Anonymous said...

People voted for a monopolistic govt. What to do unless voters change their mind. Realities are likely:
1. Reserves are too huge to tell citizens. If disclosed cannot justified all the taxes n tariffs hikes.
2. If disclosed will have to answer for actual performance.
3. You think bettors like Jinx, Loongie, academic pappies generals n retired politicians who have no idea of betting in global competitive markets dare to disclose their results?
Voters voted n asked for it. OTC insistence n subsequent rejection of disclosure had set the dark course of suka suka politics n money management all rolled up in one. Sheepies are still sleeping.

Anonymous said...

Sheeples, the majority, are not sleeping. They are simply "bo chap" (no hue or could not care less). As long as their livelihood is manageable, they are quite satisfied. This is the true quality of Singaporeans. They are easily contented. Even if they are really suffering, they don't go all out to rock the main boat. The most they will do is just make some noises, in order to be noticed. They are not going to make things difficult for everyone.

Anonymous said...

Hope reserve still there otherwise all sinkies Kena fucked already

Anonymous said...

Singapore - A Place Where Greed and Ruthlessness Flourished

It was reported in the media on 3 Jun that stallholders are angry with the sky-high stall rentals imposed on them at the annual Geylang Serai Bazaar, to cash in on the Muslim fasting month.

The cost of renting a 2.7m by 2.7m stall now stands at $20,000, up 100% from $10,000 four years ago.

Stallholders are blaming the escalating rents on the high bids placed by companies to win tender to be the master operators of the bazaar.

Operators are chosen via 2 tenders called by a People's Association (PA) grassroots working committee, under the Geylang Serai Citizens Consultative Committee (CCC) for the annual bazaar.

Company called BXW won this year's tender at Geylang Serai Bazaar

This year, BXW Pte Ltd, won both tenders with bids worth a combined $2.25 million. A quick check on the Net shows that it is a relatively new company set up about 2.5 years ago.

MP Maliki Osman who is a Minister of State as well as the Mayor of South East District told the media that he was aware of ground concerns and said he was looking at "managing the issue". But stallholders complained that rentals have been increasing non-stop every year, regardless of the PAP MPs trying to "manage" the issue.

Stallholder, Mr Suriyah, said he hopes rentals can be capped. "At the end of the day, we are the ones who have to bear the costs," he said.

Geylang Serai CCC Chairman Eric Wong, however, thinks there is no need to impose a cap. He defended his stand by arguing that the stalls are able to cover the cost of rentals.

He also said that proximity to facilities such as the Haig Road Market and Food Centre would create a "spillover effect" for the stallholders at the bazaar. And the fact that many stallholders return back year after year is a testimony that businesses at the bazaar are viable notwithstanding the high rentals, he implied.

So, in other words, Geylang Serai CCC Chairman Eric Wong thinks the current high rentals imposed at the bazaar due to the high bids put up by the master operator BXW is not a problem.

Viability of businesses at Geylang Serai

Last year, it was reported that the rental for a stall at the bazaar was found to cost up to $17,000.

A quick calculation will reveal that each store needs to sell at least $1000 a day to breakeven.

And who is the one that actually benefitted from the ripped off of $2.25 million in one month?

Of course, it goes without saying, it must be the People's Association, whose Chairman is none other than the "Dishonorable Son"!

Virgo 49 said...

The Pay And Pay used the knife to kill some one tactic for sinkies to slaughter one another.

These collections on HDB fields or land by the PA and the RCs goes into their pockets.

The poor stallholders had to undergone rain and sun and the earnings just gave to them.

Once have a colleague who is a RC chairman in the Eunos Constituency.

She boasted to me as a Co-Manager of same department that the PA and the RC spent these collections on overseas travels for all their families.

Sucking the blood and enjoying on the miseries of others.

Grassrots and Loots suit them

Anonymous said...

Enjoying other people's hard-earned, blood and sweat money seems to be the Order Of The Day, EVERYDAY, for the top Grass-Rotters and Grass-Looters of the PAP.

I think, over the years, these self-enriching scoundrels have learnt it from their Chief Scoundrels, or Blood-Suckers.

Anonymous said...

When garhmen n its leeders are highly incompetent, it can be covered up when lots n lots of money are avialable for them to use n throw around.

Anonymous said...

In 1923, in Germany Weimar Republic, one retiree withdrew his entire life saving from the pension fund.

He took all the cash that evening to a roadside coffee joint facing the seaside.

All the entire amount of life time savings retirement fund that the retiree withdrew earlier that day could only afford to buy him a cup of coffee.

The old retiree sat stoically, looking at the distance twilight sunset, and slowly drank the cup of coffee in front of him, which was paid with the entire retirement fund he withdrew.

This is not a joke but a true story in Germany during 1923.

Hope some oldies in this lifetime won't ever kena paid 0.1 cent on every dollar when the time comes for their retirement funds withdrawal.

Anonymous said...

@12:44

Don't worry. By then will have another Hitler come & save us. Many people forget that he turned Germany from a bankrupt country into the richest in Europe with double digit GDP growth and full employment with high wages.

Anonymous said...

Anon 12.44

Don't frighten me leh! All CPF money gone means no coffin money leh! What to do leh!

This is not a joke, but tell me it is a joke leh!