It was reported that Singapore attracted $9b of foreign direct investment in the year 2016, or was it 2015? This is about the lowest FDI ever attracted to invest here. Duterte paid a short trip to China and went home with $24b and more to come. Najib did likewise and was rewarded with $40b not taking into account the hundreds of billions poured into Malaysia in the last few years. Forest city alone accounted for something like $30b or $40b.
Is this pittance of $9b going to be meaningful to our economic growth? There is this obsession for FDI as if it is the steroid that all countries must have to register growth and a sign of growth. Even China is talking about attracting FDIs while investing trillions of its own resources overseas. In reality, the sum of FDIs attracted into China or Singapore are really insignificant to the sum they invested overseas.
There are definitely benefits to have FDIs coming into a country as these are new money. But when little FDIs are coming in, it is not the end. Just retain a small sum of local capital going abroad would be a handsome sum to replace the FDIs. How much is China investing overseas, trillions. How much is China receiving as FDIs, a couple of hundred bilions? How much is Singapore investing overseas? Hundreds of billlions! What is $9b? Just invest less of our capital overseas and plough them back into the local economy, $20b, $50b could be had to self inject and pump up the local economy.
What Singapore has is money, though not in trillions like China, but in hundreds of billions and relatively a considerable sum. Bring the money home, just like bringing the Singaporeans home instead of hoping for FDIs or foreign talents when we have our own stuff. FDI is something good to have but not critical except for countries that did not have much of their own capital to start with. There is no need to throw our money crazily all over the world and begging for a little FDIs to come ashore.
Singapore has hundreds of billions in the reserves but investing in funny stocks and ventures overseas, dunno making money or losing money. Why not invest in our own people and industries and no need to fear for the lack of FDI when it is so little to be meaningful? We can provide our very own steroid to boost the economy. What is there for foreigners to dump their billions here when there is really nothing to invest except properties, shopping centres and food courts?
51 comments:
Hahaha........
Are we the New Sick Man of Asia?
Have we became the "pee-sai" of Asia?
Are you proud NOW to be a Singaporean?
Are we the New Sick Man of Asia?
Hahaha.......
Why not invest in our own people and industries and no need to fear for the lack of FDI when it is so little to be meaningful?.....
What is there for foreigners to dump their billions here when there is really nothing to invest except properties, shopping centres and food courts?
RB
Hahahaha RB, replace the word foreigners with PAP in your 2nd question above partly answers the first question.
And to complete the answer, do you still remember Sinkies are being called daft? Daft people how to create industries? So why would PAP want to invest in daft people, tio bo?
So let me tell u lah. Only when the Sinkie opposition is smart (not daft) and ready to be govt will PAP start to think about investing in our own people and industries. Not smart, no investment, OK?
Not smart, no investment, OK?
9:05 am
Tiok. That's also why PAP invests a lot in scholarships for foreigners simply because not enough Sinkies are smart enough to get those scholarships.
Of course PAP cannot tell Sinkies like this lah, tio bo? Or else how to get 70% votes, u tell me lah? PAP is smart, not daft like the Sinkie opposition, u know.
The word "daft" was first used on Sinkies by no less a person than the late LKY, which ironically a lot Sinkies respected and also feared.
So there must be some truth about some (not all lah) Sinkies being really daft.
Daft people cannot create industries for PAP or foreigners to invest in, or to form an opposition strong and ready to be govt. That's why PAP Sinkies, perhaps only slightly smarter, can easily rule Sinkies for so long.
Side question....after yesterday, who, you think will likely be the next PM?
Any?
Not smart, no investment, OK?
9:05 am
I even know of parents who will not want to invest more in their children's education, if they seriously think their children are not smart enough to make it in their studies. Because 93% chance the money invested will simply be wasted. So what more PAP, tio bo?
/// Why not invest in our own people and industries and no need to fear for the lack of FDI when it is so little to be meaningful?
We can provide our very own steroid to boost the economy.
What is there for foreigners to dump their billions here when there is really nothing to invest except properties, shopping centres and food courts? ///
.........................
Every Singaporean should print this out and paste it inside their home on the front door.
So they can look at it and ask the question everyday.
I believe I have the answer.
Sometime in the early 1990's (maybe 1993 or 1994).
Old fart suddenly started talking about "growing a second wing"
http://www.nas.gov.sg/archivesonline/speeches/view-html?filename=2004011501.htm
https://www.jstor.org/stable/27912107?seq=1#page_scan_tab_contents
........................
So is it true?
PAP being PAP.
If old fart say so more than 30 years ago.
It is forever cast in stone for the next 10,000 years.
Nobody in PAP is allowed to change the policy.
It cannot be questioned or challenged.
If true, then redbean will Tan Ku Ku (wait long time) for our billions of dollars working overseas ... creating good jobs for Foreigners .... because it will never come back.
Please fact check the above.
I'm just asking some basic questions.
Old fart suddenly started talking about "growing a second wing"
9:34 am
Tiok. And perhaps the net result is that the second wing have become a great success in growing our reserves.
But then like anon 9:05 am said, "Not smart, no investment, OK?". So those daft Sinkies did not benefit from the success of the "growing a second wing" lah. Maybe they are also a minority, 30% or less. Majority benefited, and happy enough with the benefits to vote for PAP.
"nothing to invest except properties, shopping centres and food courts? "RB.
Not true. If Ma invests his Alibaba in Sinkieland, it will be a boomed in IT and carrier services. Ma promised to create 1 million jobs alone will generate more money from the jobs, besides Alibaba s direct employment.
Can daft sinkies think? Its free money to US, free technology, and new jobs for US citizens. This is the magic of FDI. US cannot create one Alibaba out of the blue and hire 1 million people.
Put it simply this way: Malaysia GDP is around 313 billions USD. The boost of 30+40 or 70billions is about 30% of GDP. From observations, no accuracy in figures, Malaysia GDP can easily grow higher by 2 to 3% with these extra money.
There will be jobs for Malaysians besides the circulations of extra money to buy materials, to buy consumption items,. Even stationery shops will get small boosts. U get the message?
Sinkies did not get big investment from China. Even Chinatown streets night market for CNY does not have China trader. Sinkie is heading for a big big trouble with the bunch of high sounding scholars. I am waiting to see how these scholars can twist and turn how good is sinkieland when Malaysia is growing at 4 to 6% no surprise from the solid figures.
Sinkies should vote for pap at 99.99% to be par with Sadam Hussian. 60.1% is too low now. Vote for pap in 2020GE.
Side question....after yesterday, who, you think will likely be the next PM?
Any?
February 07, 2017 9:24 am
Heng Swee Keat is my guess.
Why?
I think he was the original choice ... probably part of a PAP 1,000 year plan.
He was given a lot of high profile projects ... Our Singapore CONversation and etc
He is not a General.
It looks better to the whole world if Singapore is not seen to have two successive Prime Ministers who are also army Generals.
After all, Singapore is not a military junta.
What are points against HSK's choice as PM?
- not able to tai-chi (arrow somebody else to do the real work but still claim credit) effectively
- as a result, maybe work until he literally fell down sick
The above is just pure speculation and bull shit.
Fantasy fiction in the morning.
Sinkie is heading for a big big trouble with the bunch of high sounding scholars.
9:52 am
What big big trouble? PAP high sounding scholars being voted out? Sinkies protest and riot in the streets?
If not, what trouble, let alone big big trouble? Yes, some Sinkies may suffer and in trouble, but is this trouble to PAP?
Tiok. And perhaps the net result is that the second wing have become a great success in growing our reserves.
February 07, 2017 9:50 am
ROFL.
Is it a typo?
"growing" or "sucking" our reserves?
If it is "growing", then why do we still need to send more money overseas from Singapore?
If it is so successful and "growing", why is the "2nd wing" not sending money back home to Singapore?
To help our die hard Singaporean PAP voters to build more hospitals, schools, hire more teachers, repair our MRT and etc.
If Ma invests his Alibaba in Sinkieland,...
9:52 am
I thought he already invested a lot in Singpost? For the rest, maybe he thought not worth to invest lah, just like PAP thought not worth to invest in daft Sinkies and to let them suffer.
To help our die hard Singaporean PAP voters to build more hospitals, schools, hire more teachers, repair our MRT and etc.
10:03 am
But where to get enough good doctors, etc and teachers to fill up more hospital and school buildings? Now some secondary schools not even enough Sinkie students!
And they are repairing the MRT. But getting more staff or replacing more hardware not necessary will repair better. Unless totally replace the whole system.
/// But where to get enough good doctors, etc and teachers to fill up more hospital and school buildings? ////
Increase the intake of Singaporean medical students.
Seriously.
Is it too obvious for your PAP induced comatose brain?
Political Science Honours Degree Uncle: //How much is Singapore investing overseas? Hundreds of billlions! What is $9b?//
Uncle,
Just to let u know your comparison between apple and orange is "not very precise" (and .......... in economics) ........?
Under a country's BOP (Balance of Payments) Capital Account, it is further subdivided into Direct Investments (FDI), Portfolio Investments, ....... etc?
When Tummysick invest overseas, they dun have industry domain expurtise, so they dun build factories etc?
Their investments overseas are portfolio investments .....?
If tummysick invests in peesai, they also cannot build any factories or have special technology, so end up still portfolio investment, and peesai-nites being so daft most likely dun have so many indigenous industries with creativity or innovation for tummysick to invest lah?
Eg. Hypothetically, how can Tummysick invests even $1 billion in Cree-Egg-teeth Technology when the annual turnover now is only avout $100 million or less?
Local industries being so small cannot ingest the elephant investment that tummysick keeps in their portfolio?
Mee, anyhow say de .......?
(Pls) correct if not accurate .....?
But as PS graduate, uncle analysis may lack depth .......
This is personal opinion but nothing personl ......
Pls dun take offense by frank comment .......
And they are repairing the MRT. But getting more staff or replacing more hardware not necessary will repair better.
Unless totally replace the whole system.
February 07, 2017 10:16 am
Replace the whole system?
If you can't even look after a train system that you've had for 30 years (ie 30 years experience).
What makes you think you can manage a brand new system?
A new train system means you have no experience with it at all.
OR
Can't even manage an economy with 3.5 million people.
And still want to increase population to 6.9 million.
You think 6.9 million people economy easier to manage than 3.5 million?
Typical PAP logic.
/// When Tummysick invest overseas, they dun have industry domain expurtise, so they dun build factories etc? ///
February 07, 2017 11:04 am
Exactly.
TummySick does not have industry domain expertise.
So what do people do when they don't have expertise?
They leave it to people who have the industry domain to do the work.
So TummySick - PAP government should stop monopolizing the Singapore economy.
Give Singaporeans with the industry domain expertise the land, manpower and money to do the investing.
The Fundamental PAP Assumption Which is Dead Wrong
------------------------------------------------------
Only PAP and PAP government alone can develop and grow the Singapore economy.
...
Everywhere else in the world. Even China.
The belief is that "it's the individual entrepreneurs that creates jobs and builds the economy."
The government's job is to build infrastructure and get out of the way of entrepreneurs.
Governments do not create wealth.
Citizens create wealth in a country.
"What big big trouble? PAP high sounding scholars being voted out?" 10am
Big big trouble, big big trouble. I meant having not enough cash counting machines to count cash rolling in. Every flat will buy cash counting machines to count cash, how to have enough? How to know if customer pay up correctly? This is big big trouble for sinkies, cannot sleep lah.
High sounding scholars are the symbols of success for sinkies, u are the only one want to vote them out. I vote Pap 99.99%.
@ February 07, 2017 11:04 am
What is TummySick's Role in the Singapore economy anyway?
What is it's objective?
What are it's measurable deliverables?
How does TummySick's work benefit Singaporeans?
"Heng Swee Keat is my guess."9:54am
I think i have no choice must agree with you. Some so called military high ranking officer could slip the words to suggest someone will be the president in parliament before the election.
I cannot feel secured if they will slip more words to others when they meet someone like obama or hillary at dinner party in some old buildings.
@ February 07, 2017 11:21 am
And maybe most important question of all.
How do we know if or when TummySick is failing?
Who tells us?
The comment @ 11.04am is just a description by the way .......
Never say they have done correctly or naught?
Generally, if investing today $1 billion reserves in an overseas dud education chain becomes zero tmr, then it is unconscionable and a sin?
It becomes worst when not transparent or have some accountability what went wrong and also put in place (safeguards) to ensure not repeat down the road?
Also, generally, who benefits the most when such investments are made are not clear in many sinkies eyes .......
Some actions could be wrong ......
But describing a technicality should be as correct as possible?
A wrong action and an imprecise analysis do not make a right?
Cheers,
Anon 11.04am
How do we know if or when TummySick is failing?
11:29 am
TummySick is failing does not mean PAP is failing. I mean PAP failing to be elected as govt lah, not failing as a good govt.
So when a Sinkie opposition leader announce that his party, just like PAP, will contest 100% seats as one party and ready to be govt in next election, then Sinkies will have a chance to have a better govt than the failing PAP govt. And which is what really matters.
TummySick is failing does not mean PAP is failing. I mean PAP failing to be elected as govt lah, not failing as a good govt.
11:46 am
Tiok. TummySick is failing, Sinkies are suffering, so what? Maybe already happened before 11 Sep 2015.
PAP will still be elected as govt by the 70%. Or if not 70%, 60% also good. If no fish, prawn also good.
Sinkies are suffering...
11:53 am
Not so for smart Sinkies.
Smart Sinkies will continue to make money and have good life in Sinkieland.
If they cannot do it in Sinkieland, they will emigrate elsewhere to do it. It's already happening for a long time.
All these are said in general context and what it should be .....
No reference to any particular investment or action ......
And in general context, theoretically the lion share of benefits should go back to the people but how to (perfectly) quantify that or build a (flawless) mechanism seen &/ or ensuring that is "debatable"?
Cheers,
Anon 11.04am/ 11.37am
"Sinkie opposition leader announce that his party, just like PAP, will contest 100% seats"
What if opposition leaders know they are going to lose and all not contesting, except a few independent? This can be the most likely scenario as Pap young leaders are so strong and gooded. No country leaders can compare, all are better than old guards.
GKS all these fellows are outdated and can only follow the dusts of these young leaders who are far ahead. i think all sinkies think the same as me.
Do you think the majority of MPs (including Ministers) in Singapore parliament are from the armed forces (Army, Navy, Air Force, Police)?
Do you think this means we are a military junta and not a democracy?
True ......?
Smart sinkies unlikely to fight for daft sinkies .......?
If not happy here, just emigrate and say bye bye lor .......?
Which smart &/ or rich sinkies wants to fight for daft sinkies and (risks) lose everything .......?
Better focus make $$$ (and vote for a capable govt lah) or emigrate overseas lor .......?
Politics or stand up for daft sinkies like how RN fought for them?
Not good idea lah?
In the end, got achieve anything except waste time and more suffering for family?
Lose the job?
No income?
Family suffered?
Got make sense (in the end)?
Looks like Sinkieland is behaving like a very 'weird' cuntry with most of policies failures & investments with no returns ..but these white guys got elected in most of the times if not all the time walau..walau..
Foreign Direct Investment
The stock of foreign direct investment (FDI) in Singapore amounted to $1,235,389.3 billion as at end 2015. The top five FDI investor countries in Singapore were:
United States ($243.7 billion),
Japan ($110.7 billion),
British Virgin Islands ($101.5 billion),
Cayman Islands ($98.3 billion) and
Netherlands ($91.8 billion).
The stock of direct investment abroad by the Singapore’s corporate sector stood at $636,843.4 billion as at end 2015. The top five destinations of Singapore's investment overseas were:
China ($118.9 billion),
Cayman Islands ($62.0 billion),
Hong Kong ($50.8 billion),
Indonesia ($45.9 billion) and
Malaysia ($40.5 billion).
Figures are in Singapore Dollars.
Source: http://www.singstat.gov.sg/statistics/browse-by-theme/investment
RB,
Do no rely on fake news. They throw you off your feet.
Vietnam-Singapore IPs attract US$9 billion investment
I think the following news has been misinterpreted as Singapore attracting only $9 billion FDI.
It is actually Singapore invested US$9 billion in Vietnam, via the Vietnam-Singapore Industrial Park (VSIP) Group, which represents 660 businesses from 30 countries in the world.
A VSIP Group representative said on December 5 that 660 businesses from 30 countries in the world have invested US$9 billion in seven VSIPs in Binh Duong, Bac Ninh, Hai Phong, Nghe An, Hai Duong and Quang Ngai.
Edmund Chong, Deputy General Director of VSIP Quang Ngai said while luring investment into green technologies, VSIP Group focuses on building industrial-urban-service complexes with green spaces to meet workers’ entertainment and shopping demand.
VSIP Quang Ngai has invested more than VND1,230 billion on building a 254ha complex including 21,000 sq.m park for outdoor activities of workers and their children.
Read more here:
https://www.talkvietnam.com/2016/12/vietnam-singapore-ips-attract-us9-billion-investment/
RB s S$9billions FDI is correct. FDI means the investing enterprise must have lasting interest in singapore. In march 16, the forecast was $8 to 9billions, this year, the forecast is about the same or less.
The sad fact is we are too small in market size/demand and lacking in labour supply to be able to digest huge investments. Hence got to seed overseas to earn income. Also to diversify investment risks. The problem will be when we run short of cheap foreign labour to attract more FDIs to come in and other ASEAN neighbours rise up their value chain to compete against us. In the long term we will be less a manufacturing economy and increasingly an overseas investor and landlord using our reserves. Jobs will shrink while population continues to age. Govt, its ministers and croonies will still be rich and at least 75% of Singaporeans will live mostly from hand to mouth, despite being flat-owners who have to downgrade to smaller flats after their retirement or retrenchment.
"The sad fact is we are too small in market size/demand and lacking in labour supply to be able to digest huge investments. Hence got to seed overseas to earn income. Also to diversify investment risks."
2:06 pm
Well said. And 70% are also smart enough to realise and understand this sad fact and which is why they voted PAP.
Those who kpkb are too daft to understand.
We are not in the business of statistics and it is easy to misquote stats or misunderstood what they meant.
Dragon Fly's stock FDI is for year ending 2015. Stock FDI, if I am not mistaken, is the total cumulated FDI to date, not for one year. And the number should read $1,235 billion.
For yearly FDI the number would be different. Look at this Business Time article by Lee U Wen, 3/2/16,
'The Economic Development Board (EDB), the country's main economic planning agency, revealed on Tuesday that fixed-asset investments dropped to S$11.5 billion last year, down slightly from S$11.8 billion in 2014.
This latest figure, however, exceeded the higher end of the statutory board's original target of S$9-11 billion for the year. For 2016, it projects that these investments will dip to the S$8-10 billion range.'
A slight difference here is 'fixed asset investments'. But even if it is about fixed asset, the gross total of FDI could not be far off from these numbers. I hope this helps to clarify the numbers to some extent.
PAP knows invest in Sinkies 100% sure lose money. That's why they rather invest Billions in funny overseas ventures & risky stocks. At least got 50% chance make money. In the meantime pay themselves 5% management fees. Win-win proposition.
"The sad fact is we are too small in market size/demand and lacking in labour supply to be able to digest huge investments. Hence got to seed overseas to earn income."
I spoke to 1 pap supporter. He would come with this type of logic. I call it trapping inside a hot water well.
First he defines the problem as unchangable, small place, age labor whatever to justify his solution.
Second he offers solution as if they are real. Leave the stalls to foreigners to take overs, down size the flats sell to foreigners, migrate to other countries...
This type of fatal error was shown in 5 to 10 years ago. Defined lack of younger workers, so retrenched the mid age and above, let in 3 millions foreigners without enough flats, then started to reduce the foreigners but got stuck with a bigger problem: residents have chronic jobless problem resulting some gave up finding jobs, sitting around. The problems: low buying power for retailers. Less retailers come forwards for the empty shop units. Manufacturers used to be indigenous sme gave up or cease expansions, so stop hiring.
It was a kind of solution by avoiding the problems rather than facing the problems head on.
Now Pap dare not to praise and thank foreigners in parliament. One Pap mp i remembered commented he fired an old cleaner because he was slow and replaced with a foreigner.. No more talking about 7 millions and 10 millions population. No more talking about underground city which the current transport man blahed about.
Is giving this nation to let foreigners be major player no longer working as strategy? I was hoping they take over NS. Now they said NS50, another years for citizens.
If Pap stop avoiding problems but solved the problems by giving a more friendly environment for the aging population to carry on working, I think the current economy is far better than now.
I saw on estate management company has most of the staff above 55. These staff wear rubber shoes. Still answering calls, talk loud loud, and carry on their jobs. I do not see the real need to change blood from citizens to foreigners pmets just because the citizens have reached 50. The companies i saw doing so went bust instead, so unlucky, and could be caused by the blood transfusion exercise. The new blood was no longer as motivated as the old blood to survive the companies.
Sin city once change NS men to new foreigners, i think the fate can be the same.
Agree with anon 3.01pm.
Most of problems could be solved earlier when the ruling party addresses the problems head on. Even the PeeAyam tends to 'act blur' as if the economic growth of 1-2 % last yr with bout 3% unemployment was fortunate for us to escape a technical recession. As wat Aung xuan Soo Chee said the ruling party need lots of reinventing of economy as current group seem to run out of ideas..too bad we dun have an oppo ready to form a gahmen which is why the ruling ones takes it lightly..
I think best to invest down under. Once the big four (US, Europe, China, MENA) start fighting and nuclear each other, we can all move to a safe place.
Rb 9 billion FDI is very small amount as the yearly Budget surplus using the IMF format already 30 billion yearly. This is the amount of blood sucked from citizens via property, healthcare, education, gst, utilities, government charges,rep, Coe, taxes and indirect taxes etc,so in comparison, we don't really need any FDI as we have the money to invest ourselves
Agree with Anon 3.01pm.
Here are my "facts" to counter PAP's "facts"
-----------------------------------------
1. Singapore is one of the smallest country in the world. Smaller than even New York City.
- is it really so difficult to govern such a small country?
- do we really need to pay such high salaries for honest, capable and loyal citizens to come forward to serve Singapore?
2. Singapore's alleged shortcomings that make Singapore "so difficult" for PAP to govern Singapore
- small land area. small labour force.
- so what?
- you never heard of right sizing?
- cut your clothes according to your cloth?
- choosing the appropriate industries to match the size, knowledge, skills and competitive strength of your Singaporean population?
Give you a simple example.
Formula 1 night race.
Don't you think it was a bucket of shit.
We pay foreign drivers come in to drive.
We pay for the Formula 1 brand name.
We pay for the foreign car crews to engineer and maintain the cars
For two weeks, we indulge in an orgy of wild spending of taxpayers money.
What do Singaporeans get in return?
Nothing.
There was no technology transfer.
Nothing.
We spend hundreds of millions of dollars to watch foreigners drive around a circular track. and then watch them party afterwards.
All we do is sit around and watch foreigners spend hundreds of millions of our hard earned dollars.
Fuck.
Fooled us once, shame on you. We were inexperienced.
But no.
Our PAP Ministers then proceeded to sign a new contract with Formula One again.
Got fooled once, not enough.
Must get fooled again just to double confirm that we have shit heads as PAP Ministers.
@ February 07, 2017 6:42 pm
Instead of Formula One.
Why not consider sporting events like "Battlebots" - one minute video below.
https://www.youtube.com/watch?v=tF69n_mJFK8
This type of sports is well within Singapore and Singaporean capabilities.
- it will challenge our mechanical engineering capability
- it will challenge our precision engineering capability
- there are so many spin offs in terms of technology for us.
- and it's well within our budget
In the video above, the robot "Minotaur" from Brazil made Brazil famous by defeating the well established robot "Warhead" from United Kingdom.
- it put Brazil's robot technology on the world map
11.29 tammysick not failing.
Its desolving.
RB,
My sincere apologies.
The figure should be $1,235,389.3 (without the word 'billion') and $636,843.4 (without the word 'billion'). I have added the word 'billion' by mistake.
According to the gov stats, the cumulative FDI for
2015 was $1,235,389.3 (or $1,235 billion) and
2014 was $1,105,382.8 (or $1,105 billion), therefore, an increase of
$130 billion. See reference (1)
I could not get the data for 2016 from the same source in reference (1).
However, the figures in the Chart in reference (2) give us clearer picture from January 2014 to July 2016.
References:
(1) http://www.tablebuilder.singstat.gov.sg/publicfacing/createDataTable.action?refId=7181
(2) http://www.tradingeconomics.com/singapore/foreign-direct-investment
Hi Dragon Fly, not to worry. We are not paid to write, not full time journalists with all the resources to check and double check and still got facts wrong.
We shall try our best to get things right with the occasional lapses. Understandable. I often made mistakes as well.
Formula One Night Race is just paying MONIES for advtgs telecast to the world that tuned in.
Tourists revenue, that's the best the Scholars and trade Minsiter can think off.
For last twenty odd years, with much revenue from our ports, air and sea and also taxes from our own, we should have capitalized on having many new joint ventures tencho or other industries to keep Singapore humming.
Instead we went round buying other overseas companies which are mostly dying in RED.
Bought APL logistics thinking it be adding total logistics synergy to NOL.
Instead in return we have to sell NOL.
Not street wise that own nationalities will support their own lines and business.
So NOL goes bust. EDB or what spring Singapore should have plans that Singaporeans should hemmed the top posts and have the others working for us.
Instead, they attracted the kuching kurap in with their meagre investments and brought in their own without any restrictions.
Our own investments just thrown at whatsoever companies on SALE.
Into the long kangs.
Hard long term businesses gave UP
Speculating on others dying companies which they think are deals in lifetime.
Followed the footsteps of Chop Hoo Thye who speculates on fast monies on properties and stocks.
These are manipulated by CoNMen .
The basics. China is the world's factory. China is exporting and importing. They would use their own shipping lines and choose ports of calls. They decide what shipping lines to use and which ports to use.
Try to be funny with China, try to attack China, they simply by passed Singapore. End of story.
They even decided that Greece will be the new sea port for the Mediterranean region and for Europe. They hold all the cards. Next major ports to be determined by China is either Malacca or Klang, not Singapore.
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