How much did GIC lose?

The amount lost by Temasek, 31% or about $58 BILLION has been well reported. In Parliament yesterday, this amount was again confirmed, from S$185b to S$127b. How much did GIC lose? The figure quoted in Parliament was 25%. 25% of what? How much was GIC managing? S$100b, $200b or $500b? Presumably GIC was managing more than Temasek. At $200b, 25% is $50 BILLION. At $500b, 25% will be $125 BILLION. So what is the actual amount lost by GIC? The MPs were asking for more transparency. Will more be made known given the changing mindset towards a more transparent and more accountable system? The leader of the opposition, Inderjit Singh, was speaking in his usual role and supported by several MPs on this issue.

Where are the opposition MPs?

I watched the Parliament report on Channel 5 last night hoping to see Chiam See Tong or Low Thia Kiang speaking in Parliament. No clips on them and Sylvia Lim either. I saw a lot of Siew Kum Hong. But yesterday's Parliament appeared to be hosted by Amy Khor. She was everywhere. So the opposition MPs must all be sleeping. Then I turned on the ST today. Oh, Low Thia Kiang did make a pretty long speech. At least the ST was generous enough to offer him some space, but no picture still. Can Channel 5 be generous enough to give a little coverage to the opposition MPs? If not, if they are not seen, people may think that they are all sleeping.

Vote the LGBTs to Parliament

I was reading Yawning Bread and the author lamenting why the conservatives could not be persuaded by reasons and wanted their conservative way of life. I would like to suggest to the LGBTs to form a political party, get themselves into Parliament and amend the laws for a more liberal lifestyle, more alternative choices for the future. That will settle once and for all the angst that they are feeling from the pressure and pain inflicted on them by the conservatives. If the LGBTs feel strongly that this is the direction for the new world, be brave and passionate, go forth and push their agenda in Parliament.

Change must be fair, says Chok Tong

Chok Tong has spelt out three fundamental principles for change in the political system. First, 'they must be fair to all contesting parties and "not be biased in favour of one party or the other".' Second, 'they must result in a strong, effective Govt.' And third, they must 'facilitate representation for diverse views in parliament, including views of Opposition parties.' For Chok Tong to talk about a fairer system and the representation of diverse views, including opposition views, is a sign that there is an opening up, a change in the PAP's dominant ideology. Before this, the PAP's position is to win all the seats at all costs, be there opposition in Parliament or otherwise. Perhaps PAP has become wiser, knowing that there are values to have real alternative views, and that they really do not have the monopoly of talent and wisdom. Perhaps they also realised that a time has come when the people forming the opposition parties are decent and respectable people that will contest the election fairly and not to do Singapore in. And many could have very similar values with the PAP except with some differences here and there. Now we will have to see what are the changes and whether they conform to this new paradigm shift, to be more inclusive, more willing to listen and accept opposition as part and parcel of a mature political system. In the first principle above, it wil be interesting to see how this could be done to be seen as being fair by the opposition parties and not fair according to what PAP thinks is fair. The third principle is much easier to attain by working out some formula for greater participation in Parliament. The most tricky part is the second principle. How could a system ensure that there will be 'a strong, effective Govt?' Strong means a big majority. Effective means the candidates must be straight As material. To make these compatible with the second principle will not be easy. We will wait and see the details.

Shambolical sagas awaiting closures

The two sticky sagas that were the preoccupations of Singaporeans for all the wrong reasons are still alive and awaiting a proper closure. The avoidance of giving each of them a decent burial is unacceptable and shows an arrogance of power or an escapism, that given time they will fade away and forgotten. I am referring to the way the national table tennis coach was given a miss from the Coach of the Year Award that many feel he rightly deserved and the role of educating children on sexuality. In the Liu Guodong case, a little grace and magnanimity, a little humbleness, would have gone a long way. What happened and dragging the issue for so long is pride, personal pride and pride of an organisation. For such a happy event, the winning of an Olympic silver medal to become a political tussle and the victim, as seen in the eyes of the public, was Liu Guodong, is regrettable. This impression will not go away by keeping quiet and not facing the issue. If from the beginning there was a little graciousness, a little forgiveness, there could have been a happy ending despite the little mishaps along the way. It may be a little late now, but still not impossible to have a good closure. Until then, officialdom appears to have won, but in contempt of public feelings. Why is there no proper closing of the sexuality education saga? Until today, some sectors of the population, some organisations, still think that they have the right to invade into the role of parenting. And they think that whatever values that are good in their eyes should be taught to other people's children. And yes, they think they are the guardians, the beacons of light for the education of the young in controversial values like pre marital sex and homosexuality. And parents should shut up and leave it to them to do the job, to bring up their children. And none of them has expressed any remorse in overstepping their roles and violating into an area that is not theirs in the first place. To some parents, this intrusion is unwelcome and offensive. Your lifestyle is your lifestyle, your own choosing. What is good, what makes you happy, is based on your own subjective morals of the good life. Other people have their own versions of the good or normal life and patronising them or chastising them that they are wrong smacks of sheer arrogance. Parents, working with the MOE, should reclaim this right to educate their children in the values that they believed in. No group is superior and have the superior values to think that they should be the right people to do this job. This message must be made loud and clear. The MOE should also put in place a system that will not allow individuals or groups to hijack the education programme to push through their private agendas, to implant a new set of values to the young in violation of the official objectives. So far no one seems to have done this and the cane has not been used. Would there be an inquiry on how it could have happened? We need a closure on this.

The warming up after the thaw

Singapore's relationship with Malaysia was mended and set in order during the premiership of Badawi. After several decades of Mahathirism, when relationship between the two states went on a roller coastal ride, of extreme highs and lows, but mostly lows, it took Badawi several years to thaw the thick ice built by his predecessor. The last few days we have played host to Najib in a much friendlier atmosphere with great promises of more cooperation and cosying up to each other in economic and international affairs. Badawi took a brave stand to dismantle the crooked bridge that was more a hindrance than an improvement in facilitating communication of goods and people through the causeway. If it was allowed to replace the causeway, it would become a major obstacle course for the people trying to cross the Straits of Johore. It is near impossible to think of walking across as conveniently as what they are doing now. Najib has more or less driven the last nail to this bizarre concept of a crooked bridge. The possibility of a widen causeway, the most logical and economical option, is now on the table. But a bridge still must be built and Najib offers a more logical and sensible proposal, a new bridge to the east of the causeway to facilitate and promote economic development and growth to a neglected region. The south eastern corner of Johore offers huge potential for development and tourism. Both the widening of the causeway, a new bridge in the east, are practical proposals that will surely be met with equal enthusiasm from the Singapore side. Throughout Najib's visit, the undertone of the message coming through is one of a very careful and pragmatic man wanting better cooperation and relations that will benefit the people of both countries. Najib is looking into a new future, taking off from a stronger foundation laid by Badawi instead of going back in time to a creaking structure of Mahathir. From the reactions of the Singapore side, my assessment is that Najib will be a welcomed PM to build better ties, and his proposals will be taken up seriously. He is the best bet to continue the work of Badawi and for the two countries to mend ties and move forward together. The question is whether the Mahathirism that is still alive in many of his cabinet members and in Johore will allow Najib to open up a new era of cooperation and mutual prosperity between the two countries. Have the bad blood been cleansed? If not, Najib would need a major blood transfusion exercise to clear his administration before he can move forward with his new vision and style of govt. The future of better ties is much more brighter. The thaw is now warming up. This is a great moment to seize for both Hsien Loong and Najib to quickly move forward and dismiss the past to history.

A brilliant strategy gone awry

The concept and strategy to invest in some of the biggest financial institutions by GIC and Temasek were a brilliant move. These financial institutions are the strategic centres in the movement of funds across the world, and proxies to the world economy. Having an interest in them, a controlling stake, is akin to the days of the British Empire when they controlled all the strategic sea ports. If GIC and Temasek were successful in this endeavour, we would have transformed ourselves as the controller and master of the world financial system. Unfortunately things did not turn out as planned. I can superficially see three possible reasons for the disastrous loss of billions of our savings. 1, it could be professional incompetence. But this is unlikely to be acknowledged as everyone involved in the plans are professional trained and experts in their fields. And they must have done their due diligence. 2, and very obvious, is the blinded trust of the American system and corporate chiefs. We looked like bright eyed little children in awe of the Americans, and believing in everything they said and did, thinking that what we see would be what we get. And we bought cart loads of rotten eggs. Then when the smell came forth, the Americans came with more baskets of rotten eggs, and we bought again, trusting them completely. Now we knew that the system was rotten and the salesmen were crooks, selling rotten eggs without telling us so. 3. The third reason is providence. When the mandate of heaven is passe, no matter how brilliant and able our people are, things will go wrong, and go disastrously wrong. Man proposes, heaven disposes. Having said that, the concept and strategy are still sound and should not be forsaken just because of the failure. With the experience of all the bunglings, we could be wiser in making our next move. Of course, hoping at the same time that providence is kinder and in our favour.

So, it is Aware's fault?

Eng Hen has spoken and that Aware's programme can only be reintroduced after it has regained the public's trust. That settles one part of the issue. The second part is how the Aware programme was allowed to be taught in the way it did for so long, and actually accepted as normal without anyone from the MOE raising an eyebrow? In fact the initial reaction from MOE official is that there were no complaints or the noises put up were groundless, unjustified emotions. Who gave the go ahead or why was there no ongoing assessment and auditing to make sure that the content was safe or acceptable? If not for the hooha, the programme would still be taught to the children without anyone getting wiser. Would there be a review and an explanation on this second part of the issue? Are the confidence and trust in MOE affected by this slip? Or MOE is totally free of blame, nothing to do with it?

HDB to build more 2 and 3 rm flats

Is this progress or regress? Or are we telling the Singaporeans that My endearing home is a 2 or 3 rm flat? Of course not. My endearing home is a freehold landed property, 20,000 sq ft, in district 10 or Sentosa. 2 and 3 rm flats are for the losers. In fact all public flats are for losers. the 2 and 3 rm flats are for those who can't even buy a 4rm flat. How many can afford to buy a 4 rm flat these days when the price is $300k to $400k or more? In my time, a single income family, a young graduate with 3 or 4 years working experience could even buy a 5 rm flat. Today, with 2 incomes, two graduates would have problems buying a 4 rm flat. Is the life of Singaporeans getting better? Of course, depending on who you are asking.

My bizarre interpretation of the 36 injuries

The coroner's report is out and it confirmed that David Widjaja died from falling. But how to explain the 36 injuries on his bodies and trunks, and a bruise on his neck. Let me to emplain, assuming that he died from the fall. David must be one of those kids that like to cut themselves. So all the wounds and lacerations must be self inflicted, cutting left, cutting right, change hand, cut and cut, all 36 times. With so many cuts, blood must be dripping all over his body and the places he walked through. As for the bruise on his neck, a karate expert chop would probably kill him or broke his neck, and leaving behind a big bruise. But if the chopper is not a karate expert, then the bruise may not kill him and will be lighter. And for the many other bruises and abrasions, he must have rolled and rolled as he landed from his fall, like a judoka trying to break his fall. My interpretation is not meant to be true. Just bizarre.

Brutal attack on a 3 year old

Anyone read the brutal and cruel attack on a 3 year old child by the mother's lover in the paper today? He punched the child's face, slammed his head against the wall, bit his penis and scrotum etc. These went on and on for months. The poor child eventually died. The punishment was seven years imprisonment and 12 strokes of rotan. The guy who kissed and suckled another boy's organ, without causing hurt got 12 years imprisonment and 12 strokes of rotan. Which is a more severe crime? Why was the mother not punished for letting the brute attacked her child in such a vicious and deadly way?

The Presidential Address

Nathan was a key administrator in his younger days, holding very important appointments in the govt that no fools will be allowed to get near to by the miles. To be in those positions, he must have proven to be a man of great intellect and brilliance. His writing skills is on par with that of Devan Nair. His understanding of social and political issues of the land is as good as any politician worthy of his salt. We heard the Presidential address. It was very mechanical in the delivery. There was no flair, no passion, nothing that gets it near to what Nathan would have written it. No ohmm! It was just a prim and proper motherhood statement. Maybe that is what one can expect from a President's Address. Obama would not have it that way. How different would it be if Nathan would to write his own speech, use his own style, speak on issues that were close to his hearts, and deliver it the way he knows best, the style of Nathan. I am presuming that the President's speech was prepared for him by his staff. And I stand to be corrected on this. I still feel that Nathan would be able to make a more punchy and lively speech if he were to be himself and set aside the protocol of what a President should be.

New session in Parliament

What impresses me most during the keynote speech by the President is Nathan's health. He seemed to be getting more youthful by the day. He was so radiant, relaxed, well fed, and looked like he will live for another 50 years. The fountain of youth must be somewhere in the Istana. His motherhood speech was comprehensive and covered everything that needed to be said. Now comes the implementation part which the ministries are expected to do the due diligence. One recommendation I have in mind is to raise property prices, both private and public. This is the best strategy 'in helping companies stay viable and continue to employ workers.' It will 'strengthen our revenue base', and the excess profits can be accumulated as reserves for a rainy day. With higher prices of properties, the private developers can make more profits, provide better jobs and pay their employees very well. In the public housing sector, the profits can be used to help those who needed help. Never mind if the buyers would have to pay a lifetime for the little space they bought. They can feel good to live in a half a million or one million dollar flats. Compare to Hongkong, our flats are still very cheap and very luxurious, endearing homes. In Hongkong one will have to pay a fortune for a 90 sq m. Here it is so affordable. Our 3 rm flat is like a mansion! So liveable. Our standard of living (and cost of living) is improving by the day.

The new 9 tier hospital bill system

It guarantees smaller bills. The subsidy ranges from 10% to 75%. A family with an income of $5,600 will still get a 10% income. Great, finally someone realises that a family income of $5,600 is nothing and bearly sufficient if spread across several adults with such a high cost of living. The question is whether a family income of $5,600 would translate into some money to be set aside to pay for hospital bills of $5k, $10k or $50k if the family is so 'sway' to be hit by a major illness. The article in the Today paper by Neo Chai Chin also includes an example of a Mrs Wong, 65, 28 days in a 8 bedded ward and a family income of $4000. Her bill of $2,500 today will become $2000 with a 40% subsidy in July 1. The best part is that she does not need to pay any cash. Wow, my mother will say 'free ah, no need to pay ah, govt so good!' In Mrs Wong case, $800 will be paid by MediShield and $1200 by Medisave. See, not only smaller bills, but no bills actually. Go in and stay and all paid for. Where on earth could one be so fortunate to stay in a world class hospital and literally for free? Only in paradise. For those with bigger income, they will have to stay in more expensive wards and a comparatively more expensive bills. Whatever the ward they choose, if income is above $5600, no subsidy. But they should thank god that they have bigger incomes to pay the bills. Lucky fellows.

Parliament in session

Parliament will reconvene again this week and there were expectations of change in view of the global economic crisis and its severity on the life of the average Singaporeans. This group in my definition will be those living in 4 and 5 room flats. The 3 roomers and smaller flat owners were obviously hit more. And the middle income, even in the lower end of the private housing sector were also not spared as well. I have only one wish for a change. The Ministry of Housing and Development needs a new minister and a new set of policy that is pro Singaporeans, does not eat up every cent of a Singaporean's income and then ask why Singaporeans do not have enough savings for old age. The grotesque profits as seen in Duxton Pinnacle do not go down well with a govt that is caring and wanting to give every Singaporean a decent home and stake in this country. Unless some jokers think that a decent home in Singapore is a 3 room flat. My endearing home to Singaporeans must mean better and afforable homes relative to their income. Singaporeans used to aspire to a 5 rm flat or better. At the rate that prices of public housing are being pushed upwards, many could only be contented with just a 3 rm or 4 rm flat. Maybe that is the reason why HDB is building more smaller flats for the people. My endearing home of bigger flats, private properties should be a message for the rich foreigners being invited here with red carpets. Singaporeans should count themselves lucky to have a 3 rm or 4rm flat as their endearing homes if this is the way things are moving.

I missed the pinkdot party

Oh dear, I was caught up with running an errant and missed the party altogether. I would love to share the pictures if I were there. About a thousand people were there. Anyway, the pics at TOC and a few other blogs were marvelous. Now I am kicking myself for not being there. The message is simple and clear, from the pics. The pink people are a happy lot, and beautiful too. If only we have more pinks among us, we will definitely be a happier place. Make love, not war. The same message from the sixties. Congrats to the authorities for approving the event. Definitely no violence or social security problems to be expected. The pink people shall also be happy that the non pinks were not there to jeer at them or pick a fight. It is inclusiveness and acceptance.

Mas Selamat's beard and....

The privilege of owning a blog is that one can write anything one likes, the most trivial, and paste it as the main news. You can't do it in the major media when readers paid for what they read. So here I am, on a Sunday morning, writing about the beard of Supermas. There are many angles I can approach this serious topic. I can compare how long it has grown since his escape, measurement can be in inches or centimetres. I can also talk about how handsome he looks, with or without his beard. I can also talk about his barber or hairdresser. He could have received a cut from a famous one in Orchard Road or Scudai. But this must be kept as a secret or his hairdresser will become as popular as Supermas overnight. Maybe he is already thinking of a poster or putting up an advertisement in the paper of his famous client. Should I go one step further and spin a theory that he cut his own beard and hair? Would anyone want to prove that this can be done? I am still waiting for the Mas Selamat look to become a fad. If that happens, you will see the images of Supermas all over the streets, in Singapore, JB and Batam. They may even hold swimming contest or Selamat look alike contest, or competition on overcoming the obstacles that Supermas had to go through in his escape. Now thie latter should be a good TV live serial. Contestants can compete with each other to see who can complete the obstacle course first. The first obstacle must be climbing out of a toilet window. Next, dashing to the fence. This should be followed by climbing over barbwire fence. I presume that security fence should have barbwires. Next, a 26 km limping run to the woodlands. The grand finale should be the river crossing with a choice of flotation devices. Contestants can choose whichever is suitable for themselves. And for this grand finale, there will be spotlights shining across the river, police patrol boats and civilian boats that can hit or crush the contestants to knock them out. Would that be an interesting proposition? How handsome Supermas looks with his beard and moustache.

Exploring and making red herrings real

It is so comical today, and everyday, to see people floating red herrings in the media, and you will have professionals trying so hard to make these red herrings look real, even experimenting with them, holding out trials to say, yes it can be done, it is the tooth. The sad part is that the more they try to prove the fallacy or incredibility, the more ridiculous they make themselves to look like one. The other sad part is that some section of the public would really be led or misled into believing them as the truth when they are obviously only the tooth. Guess the red herrings that we have read in the media? Unbelieveable to the point of insulting the intelligence of the public. I am also guilty of posting red herrings. But anyone reading my red herrings will know what they are, as they often came through with a big dosage of cynicism. My red herrings were never meant to convince the public that they were the truth, but to provoke thoughts of how ridiculous is the nature of things, unlike the commercial truth, the tooth that were fabricated to make the public believed. Thank god we have alternative media to separate the truth from the tooth.

More NMPs needed

In our open and inclusive society, when organisation of 200 members deserved to be represented in Parliament, we can look forward for more NMPs to be in Parliament to represent their little corners of interests. Now we have arts rep, sports rep, academic rep, medical profession rep, foreign talent or new citizen rep, it is time to open up Parliament to be more inclusive. The first rep or NMP I have in mind is the LGBT. There are definitely more than 200 members out there, maybe 20,000 or more. Surely they deserve to have a NMP to speak up for them. Then there are many other groups and professions that were not represented in Parliament. I could simply rattle off a few here, the silver hair, parents group, the retirees or jobless, pasar malam hawkers, motorworkshop, insurance agents, housing agents, stockbroking agents, loanshark association or moneylenders, newton food centre, the infamous shopowners of Lucky Plaza and Sim Lim Square, oh, the bloggers, and the small and smart children who are worldly and well read, thanks to internet and want to decide what is good for themselves without their parents or anyone imposing their values on them. Now who else should deserve a place in parliament? Charity organisations, yes, there are plenty of them and managing huge sums of money. Then CPF members. They have been victims all these while with people deciding for them on how to spend their money and they completely have no say, helpless, and no MPs or NMPs speaking for them or their interests. We need more NMPs in Parliament for it to be more representatives and for the people to be really represented, to speak out and protect their own interests. The MPs are too busy, with so many commitments and hats to wear that it is only natural that they could not give off their best, their full attention and devotion to their constituents. They are the most hardworking group of people, and the people must understand, that they only have 24 hours a day. They just cannot be anywhere and everywhere at the same time. They are advisers to so many grassroots, sports and community organisations. Poor chaps, truly supermen and superwomen. The NMP shall have a nice job cut out for them, to fill the gaps that MPs could not cover.

Sexual assault or tender loving care?

This guy hid in public toilets to wait for little boys to enter the toilet alone. When a lonely boy came, he would help the boy to remove his trousers and to pee. He would then fonder the boy and perform oral sex on the boy. Why is he charged for sexual assault? He was being nice to the boy, showing the boy some tender loving care. He didn't beat nor bit the boy. Isn't it unfair to him? He may be sentenced to imprisonment or given 12 strokes of the cane. Where is the inclusiveness? The guy was exercising his right to an alternative lifestyle.