Temasek could end up as the biggest shareholder of Olam

Temasek owns 16.3% of Olam while Kewalram owns 20%. How is Temasek represented in the Olam Board and how much influence does it have with such a big share of the company relative to Kewalram? And Temasek could easily be the biggest shareholder of Olam after the bond issue. Kewalram, the mother company of Olam has said that it would take up its full entitlement of the bond/warrant issues. Temasek would take up its entitlement too, but also mop up everything that is not taken up by the market.

Kewalram would have to put up US$150m for the stake while Temasek’s stake is $120m. The whole issue is reportedly worth $1.25b. Theoretically it is possible for the balance, other than Kewalram’s stake, to fall onto Temasek’s lap or $1b worth of bond and warrants. That would be as good as Temasek owning anything more than Kewalram’s 20% stake. Shouldn’t this be a great opportunity for a cheap takeover of Olam and later sell it for a big profit? If it chooses to keep the company as a going concern, it can than appoint some Sinkies to manage the company as a private company. No need to privatise to be efficient and profitable.

The Sandy Hook School tragedy

The children died, shot many times by a young man with an assault rifle. The teachers also died, some bravely trying to save the children. The parents cried. The siblings and friends cried. The Americans in Newtown, Connecticut will never forget this dreadful day in their whole lives. Many dreams and happy relationships were savagely shattered in the most wicked way one can ever think of.

Could this tragedy be avoided? Could all the macho men who fought stubbornly to keep the rights to own firearms sleep well after Dec 14, 2012? The old wild, wild west of American history was a time of violence when law and order was difficult to maintain. Not that it is easier today, but when continuing with gun ownership the toll or tragedy could be that much more serious and widespread, is it time to rethink? Would Clint Eastwood still be the man that would shoot first and talk later still be role model of American manhood?

This is the sick ethos of the American society, that owning guns is a very respectable thing, the right to self defence, to face an aggressor squarely on the face and to an honourable face off. And shooting or going to war is an acceptable way to settle disputes.

In the wrong hands, the guns are very deadly and would show no mercy. Ask the Arabs in the Middle East, this sick American trigger happy behaviour had inflicted pains many times more than in Sandy Hook School, in bigger scale and with hundreds of thousands of unfortunate victims, young and old. And the children died, the innocents died, the olds died, and their families wept. Their cries of pain were never told in the American or western media. No one know or would understand, or would want to know or understand the pains the Americans are inflicting on the people of other countries, all because the Americans carry guns, big guns, very powerful guns, that the victims have no reply.

Would gun ownership be banned after this incident, or after many more similar ugly incidents that are going to happen, and many more children and teachers would have to die, and many parents and loved ones weeping their hearts out? Would the act of war, the belligerent policies of the Americans, be put to a stop for a world that is less violent, an American society that is safer for the children and the helpless at the mercy of crazy gunmen and crazy American politicians and soldiers?

Last week there was a lone man firing at kids. Tomorrow a crazy American Admiral could seize control of his fleet and fire at any country at his whims and fancy, drugged or insane, it is a hell that can break lose.

Laura Ong – The people are angry

In all my postings, one of my key principles is to avoid tarnishing anyone personally, and the least for indiscretion in their private lives. I avoided writing too much about the high profile X rated cases in the courts. I also schemed through briefly about the indiscretions of the two MPs except making some factual reports that were already in the media.

Many people have taken high moral grounds to dismiss these people in all manners and descriptions. Some had done it to score points, some with an agenda. Even the public had a great time humiliating, sneering and laughing at the people involved, as if they were all saints and angels. They were not merely giggling at the victims but enjoying every bit of it. You can see them and hear them everywhere.

I reluctantly dragged myself into this sordid affair as some called it, or more politely, improper conduct for one reason. The people are angry at the diatribes thrown at Laura Ong. It seems that it is all her fault, that she is the troublemaker, the bad one, and the other party is wholesome goodness and honourable.

How could people be so wrong and unjust to one party of an indiscretion between two consenting adults? How could one be dragged across the public square wearing a conical hat and another praised as good and respectable, full of integrity and full of sympathy and forgiveness?

I am not going to say too much about this. The commentaries in the media are more sordid than the affair itself, and the people berating them are worst. I am very proud of the bloggers in this blog who have not indulged in the same manner as the ruthless and unspeakable. Let the one who have not sinned be the first to cast the stone.

China’s stock markets are safe

While many countries have adopted the American model of financial system and stock market operations, China is still very conservative and guarded. It is very careful in how its stock markets and financial systems are operating and opening up gradually without exposing them to the high risks of American model markets.

Among the key features are no derivative tradings, no hedge funds, no computer or high frequency tradings. It even restricts the amount foreign funds are allowed to invest in Chinese stock markets. And it carefully chooses the type of foreign funds to invest in its markets, and preference is given to sovereign wealth funds and pension funds but NOT to hedge funds. Some may think that this will restrict its growth and the liquidity in its markets. But China is not the least worry and not in a hurry. It is not blindly greedy for foreign funds and willingly opening its legs widely to be screwed, or allowed the foreign funds a free hand to run circus and exploit/rob the innocent investors of their hard earned money. It must know that the foreign funds, particularly the hedge funds and computer/HFT operators are not there to do charity but to make money, plenty of money, to take advantage of the system, with no qualms or worries about ethics and moral goodness or the well being of the investors and the stock market.

The funds that are permitted to invest in Chinese markets are Qatar Investment Authority, Temasek Holdings, GIC, Norway’s Norges Bank and Abu Dhabi Investment Authority. Even then, the amount they could invest in China is restricted to about US$1b each. Qatar has a limit of US$5b. China is looking for long term investors and not speculators and gamblers and would not allow big funds to create havoc by controlling the market with their large war chests.

Some may be sneering that the Chinese markets are unsophisticated and will not grow at the speed of western modelled markets, but what is likely to happen is that the Chinese markets would still be around when the western modelled markets failed as a result of its casino nature, fraudulent systems and products. China must be very prudent and not to be conned by the big funds and their criminal practices like computer trading, HFT and derivatives to destroy its markets.

The days of western modelled markets are numbered and will fail disastrously.

Sluts and Slutwalk Singapore

When I called Singaporeans Sinkies, some got offended. I used this term for several reasons, sometimes negative, sometimes for convenience. It is a short two syllable word instead of the long and winding Singaporean. And often Sinkies should be called Sinkies just like some called them daft. Sinkies did not complain for being called daft but for being called Sinkies because Sinkies sound like sinking. Whatever, a rose is a rose by all names, and a piece of shit is shit no matter what you call it.

I came across this word Slutwalk in a new movement by a group of woman championing their rights to wear whatever they want, how sexily they want, and to party and drink like the men in the most fun loving places deep into the night. They are protesting that such dressing and behaviour are often branded as sluts by the male chauvinists, an invitation to be raped. So they are going to defy the chauvinists by doing what they want and showing their middle fingers to them.

Such brandishing of women’s rights is nothing different from women happily sharing dirty jokes with the men. Some did it happily even with strangers or people they knew only for a few days. To these women, it is all about being open, liberal and worldly, if not, being westernised or sophisticated. They think this is about having arrived and even mature and clever, to be able to engage the men in their saucy stories. Many men appreciate such openness in the women and always enjoy their great company.

Some ladies are more discreet and would only share with people in their close circles of friends. Letting go with strangers or people they hardly know is a no no. They are smart enough to know that the presumably merry men sharing the dirty jokes with them and flattering them could form very different opinions of them and may make unkind comments behind their backs.

I digress. The Slutwalk protagonists are very comfortable with the branding. I am not sure if they are comfortable and call themselves sluts. They must have welcomed all the spectators and guests to their events with words like welcome to the Slutwalk or Slut dinner or Slut party or something like that. But they are not sluts, definitely. It is just a choice of names they called themselves to gain attention.

So, should Sinkies be offended by the word Sinkie? If Sinkies can be just as proud as the woman for calling themselves Slutwalk or ‘Sluts’, then it should not be an issue. Be proud that you are a Sinkie and a Sinkie needs not be daft or sinking. Political parties may also adopt such eye catching and loud unforgettable names, like Prostitute Party or Pimp Party, as long as they are not prostitutes or pimps. It is very creative and going with the flow.

It is all in a name. Nothing much to it really.

Romance of the Three Kingdoms

The Western world is quite familiar with the Art of War as a book on military warfare. Thanks to the trainers who popularised this manual of warfare by applying the tactics and strategies in modern management practices. An equivalent and more powerful book, Romance of the Three Kingdoms, is less well known outside the Middle Kingdom but is stacked with many military strategies and tactics of psychological warfare.

In one of the stories, the famous strategist, Zhu Ge Liang, was pitted against the warlord Cao Cao. The game plan was about luring Cao Cao into a trap, allowing him to be victorious and became complacent. The finale was for Cao Cao to paint himself into a corner and defeating himself in a game of crafty deceit.

Zhu Ge Liang knew that Cao Cao had a weakness for women. Without disclosing this knowledge, he used it to plot Cao Cao’s embarrassing defeat by setting up one of his general, General Yao, with another woman in an improper affair. Of course this was leaked to Cao Cao who happily exposed the details of the relationship to the public.  Zhu Ge Liang’s Cukong Liu was greatly embarrassed and summarily dismissed General Yao who then left the state.

Tasting success, Cao Cao seized on the opportunity to embarrass Liu by ridiculing him, demanding that Liu tell the whole truth and be transparent, not to hide any material fact. Cao Cao’s ministers added fuel and fire, telling Liu’s people that Liu had let them down, and failed to carefully select his officers. They ran circus around Liu, accusing him of being inept in choosing his generals, lack of integrity and that Cao Cao’s camp was better in serving the people’s interest.

After a year, when things quiet down, when there was apparent peace under heaven, with Cao Cao smarting over his moral victory, Liu exposed Cao Cao’s affair to the world. What Cao Cao did was an exact replica of what Yao had done, the same affair with the wives of another officer in the same camp. Cao Cao was forced to face the same barrage of accusations and flaming and was helpless. Every word spoken by Cao Cao and his ministers were carefully recorded and read back to Cao Cao and his men. It was a taste of his own medicine. There were no buts, no running away from a similar and grave mistake. Cao Cao and his ministers who acted high and mighty, as the righteous ones, beyond reproach, had to swallow every word they said, heads bent low, some went into hiding. Cao Cao was defeated in his own game of moral superiority.

The Three Kingdom was a timeless classic, and the tactics and strategies have been thoroughly read and discussed and mastered by many modern military commanders and politicians. Some were able to use them so effectively in defeating their enemies through deceptions, schemes, plots and strategies that often caught the enemies totally unguarded and with their pants down. Zhu Ge Liang was a living legend of his time.

Art of RAR - A new series

Another series of rar art created by Mother Nature. Size up to 24in x 36in in oil or pigments.

SMRT driver bashing – The other untold story

Untold may not be the right word as the story was told many times over several months, but no one wants to hear them. This untold and embarrassing story is starting to reappear to shed light on the plight of the SMRT drivers. One was jailed, 29 repatriated and 5 charged in court. The story in the media so far was all about the trouble makers, the SMRT drivers. And they were duly punished with many Sinkies throwing more vitriol at them.

Desmond Kuek has conducted an internal investigation on how the strike came about and commented that it could be avoided if the management was more “sensitive, attentive and responsive” to the problems the workers had brought up. Disciplinary action would be taken against those who allowed the drivers’ grievance to escalate to become a work stoppage. The drivers would not have been charged, jailed, repatriated and lost their jobs. The strike would not have occurred to embarrass the govt and the trade union. Relations with the Chinese Govt would not have been affected.

Since his last comment that there were many problems in the organisation, a witch hunt could be next and many skeletons are likely to be dragged out of the cupboard. But most important of all, the truth shall prevail and the drivers would be seen in a different light, that they could be victims of mismanagement and neglect.

Shine the light and brighten up the dark patches and return justice to those that had been wronged. SMRT would no longer need to say we are sorry, it should not have happen, we will make sure it will not happen again. ‘We are sorry for the inconvenience caused’.

Punggol East - A scramble for the spoils?

I wrote about the congregation of the vultures awaiting the ageing lion to fall. Every vulture is hungry and wanting to have its share of the meal. Would there be a mad scramble for the carcass or would each take its turn for a bite of the morsel? If they do it in an orderly manner, each will have their fill and more could come their way. If they go on a mad rush, the dying lion could walk away to live another day.

Lina Chiam of SPP, Hazel Poa of NSP have spoken. They would not be engaged in the foray in Punggol East. They would wait their turn as it was a battle field of WP and SDA in the last election. This sets up a gentleman's agreement on the pecking order in the opposition camp for the rest to follow. Would the others abide by this protocol, or would they defy the existing order and behave like when fools rush in?

Some parties are taking an ambivalent position at the moment with reservation that they could jump into the fray. Some quarters are openly encouraging all the opposition parties, or some parties to move in, 3 corners or many corners fight is irrelevant. Their intent could be simply a genuine interest in wanting their perceived favoured party to have a go at this seat. For some, the intent is nothing to hide, to agitate the opposition parties to strangle themselves and deprive themselves from a good fight.

The memory of the last Presidential Election is still vivid in the minds of the electorate. Some are cursing at the missed opportunities for their chosen candidate. Some are cursing at the spoilers. Would there be spoilers in the making, for whatever queer or make belief justifications, that they must be in the ring to split the votes of the opposition?

In a straight fight like Hougang, the chances of victory against the ruling party has been proven to be very high. So, would Punggol East be another Hougang or another multi corner fight that makes the opposition parties look like a bunch of unthinking and selfish hyenas, and ended with nothing and losing their credibility, and be the cursed of the electorate?

Should there be a multi party contest, the electorate could still be the deciding factor. They could despatch the spoilers into shame and losing their deposits as well. The electorate are no longer easily conned and a spoiler will be seen as a spoiler and will not be getting much sympathy votes. They would be rudely dismissed and their intent exposed.

Punggol East is staged like the last fort, the last resistance. Should Punggol East fall this time, the writings will be on the wall. There will be no stopping of the tide and a tsunami may follow suit to clear up everything in the way.

Hougang was  a watershed. Punggol East could be the Waterloo. Would there be spoilers to throw shit in to muddy the water?

China and Japan gearing up to defend disputed islands

On the anniversary of the Nanking Massacre, China flew a civilian aircraft over the Diaoyu Islands snatched away by Japan after it was defeated in a war in 1894. This flight over Diaoyu is symbolic and a message to Japan that China is not going to let Japan to continue to think that it could seize Diaoyu Islands from China for good.

Japan reacted in the most aggressive manner by scrambling 8 F15s in a show of force to defend its claim on the islands. There was no engagement with the Chinese surveillance twin prob aircraft. China responded by making a statement that the aircraft was in Chinese airspace and had all the rights to be there. Japanese leaders were up in arms, revealing their cleverly concealed military past, each one raring to go to war. The nationalistic and militant voices in Japan are near hysteric.

China will only react in the same pitch and as robustly as the Japanese. China must have been preparing for this day to come, having tested Japanese intent that they would not return the islands without a fight. The stage is set for a military confrontation for the recapture of Diaoyu Islands. The national pride and interest of China, for losing a war and losing its territories will mean that China will go all the way to reclaim the islands. The next time China would also scramble their fighters to face the Japanese fighters.

Japan is equally adamant to keep the war loot. They think they are able to defeat the new China again and with the backing of the Americans. This is World War 3 and no laughing matter. The launching of the North Korean satellite is an affirmation that the North Koreans will present the Japanese and the Americans with a new factor to consider in case hostility breaks out. The dark horse is South Korea. Would it join the Japan/America alliance to take on China and North Korea, with the Russians in the background, or would it do a surprise by taking side with their northern brothers to avenge the years of colonization and humiliation and brutality under Japanese rule?

Whatever the position of the two Koreans, a war between China and Japan is inevitable unless the Japanese are willing to return Diaoyu Island to China. This is basic Chinese position, the reclamation of territories lost during the years of weaknesses and humiliation. They would take on the Japanese come what may.

PAP under siege

The opposition parties are hovering over Punggol East like vultures sensing the presence of a carcass for a good meal. It is not the case of a prize possession that belongs to the ruling party anymore. Thanks for the generosity of Michael Palmer, it is like a well timed Christmas present. But the ruling party is not going to give it away so easily. They know that the opposition parties are ready to snatch it away and it has to hold on to it tightly.

This is the state of the political game today. Gone were the days when the ruling party will strut around taking every loose seat available with great confidence. It was chionh all the way. The game has changed and it is a case of trying desperately to hang on to whatever it got. And the opposition parties are closing in for the kill every time a little gazelle breakaway from the herd. It is quite helpless. It will be taken away to fill the hunger of the hunters.

The ruling party is under siege and weakening in all fronts. There is no one in the party that could command the awe inspiring presence and leadership to win a single seat or even a GRC today. The last GE has exposed the weaknesses of the ruling party and the infallibility of every minister. Every one of them looks lame. And the last few batches of MPs were found to be wanting in many ways and many would not be able to hold on their own in a contest, without the GRC. Many were outright failures in the eyes of the people and many voters have regretted their decisions in the last GE. It is that bad.

The strength of the ruling part was in their pro people policies. These have done well for many years but strains are showing. Good policies are turning bad and unsustainable, like a big rock pushed up the mountain, the weight bearing gets heavier by the day and waiting to roll down, crushing everyone and everything below. Come to think of it, every policy is about to come tumbling down. Cannot think of any that is good or barely good today.

In the absence of good men and women, in the absence of good and pro people policies that are sustainable, what else is there for the ruling party to offer the people to keep them in power? This by election is only to confirm the hard truth that it is game over.

Maybe I am too pessimistic. Maybe the people are still strongly behind the ruling party. The joyous and buoyant celebration and the confidence shown in the last party conference told a different story. The party is on a roll. Everyone was looking so well and wealthy. The party will go on and on. The truth will be seen in the decision to hold or not to hold a by election. A party that is confident of winning will have no apprehension of taking the bull by the horns and will call a by election without hesitation. Any wishy washy excuses will be a sign of weakness, a party under siege, having little confidence in holding on to the seat in Punggol East. The siege mentality is all there for everyone to see.

A little decency from the workers

A fallen angel getting a little support from the workers. That was about the only silver lining in the latest episode of personal indiscretion. Instead of laughing their heads off, instead of grabbing the opportunity to twist the dagger deeper to extract more pain, to hear the scream, to make it hurt, it was just a polite admonishment. There was no need to go further than this to shower praises for being honourable and for being a good and clever boy. That would smell too much of hypocrisy.

The elite have something to learn from the workers, if nothing to learn about good manners, at least some decency of not kicking someone when he is down. It is a nasty but pleasant surprise that the once mighty elite, with halos on each and everyone’s head, once were standing on the high pedestal of moral righteousness and scream, on your knees, scoundrels, infidels and all. Bow your heads in shame for your disgraceful acts and conducts.

Where are the angels? Aren’t they going to put on their halos to pronounce in their haughty arrogance, that man must not sin, that angels are pristine and would not be tarnished by temptations.

The workers are more down to earth, knowing that all man will sin in times of weaknesses and should not be too harsh in their judgement against those that have fell victims to temptations. Workers are in many ways behaving like angels. Would angels then be more like workers and seek a new balance, a new ethos of kindness, sincerity and politeness, in acts and in words?

It is a painful lesson to learn from. Do not jump the gun.

North Korea successfully launched a satellite

The Americans and its proxies are calling it something akin to WMD. No country can launch a satellite without the approval of the international mafia. Countries like North Korea and Iran should remain as third world countries and not allowed to progress, not allowed to have their own satellites. They should forever be kept poor and be at the mercy of the mafia, to receive aids from the mafia and its proxies. They are condemning the North Koreans, threatened to shoot the rocket down, and now threatening sanctions as if the North Koreans have committed a grave sin or crime against humanity.

Now North Korea has put a satellite in the space. What is this accusation that it is a missile to attack other countries or to develop missiles when the mafia boss has countless of them? The next time when Kim Jung Un farts, the Americans would be accusing him of chemical warfare. What else is new? Crying wolf once too often becomes meaningless.

But no, many Asean countries will now be shivering in their pants, fearing the North Koreans are going to send its nuclear armed missiles to attack them. I am not sure if they really believe in such crazy ideas. I am not sure if North Koreans are mad or it is the people in Asean that are mad. One thing I am sure, the North Koreans will have no reasons to do such a silly thing for no reasons.

Well done North Koreans. You have outdone the South Koreans. The South Koreans, despite their claims of technological superiority and wealth, with Samsung and all the world brand electronics, are still unable to launch a satellite after many failed attempts. It is time the two Koreans reunite and share their technology and wealth and bring the two people together as one great people and powerful country.

Corruption or greed can be in many forms

Sin City’s biggest success in public administration is the weeding out of corruption of the monetary kind. The solution is quite simple really. Knowing the psychology of how human beans behave, when greed cannot be eradicated, the next best solution is to feed the greed. Make sure the greed is satisfied, then there will be no corruption.

Today we are facing another kind of greed that was alien to the Govt. Sex has never been an issue with LKY as a shining example of propriety. With such perfect role model, sexual misconduct of PAP MPs and Ministers is a rarity. The revelation yesterday is an indication that this kind of greed is starting to rear its ugly head. And it is better to nip it in the bud which the Govt is fame for.

Now, how best can greed be curbed? Even LKY said that he did not expect his Ministers and MPs to be celibate. Turning them into priests and priestesses is not going to work. Asking them to wear chastity belt may be a bit too much to ask for. And you do not want them to run around in Geylang with the foreign workers.

How could this greed be satisfied the way the greed for money was satisfied? Let them have as much sex as they want or commission a foreign agency to study on this problem? Maybe they can recommend what is enough to keep them from wanting more. I can expect another revolutionary and innovative way to curb this greed. The Govt can be very good in solving this kind of problems.

Punggol East SMC, 还我公道

The similarities in the Michael Palmer affair and that of Yaw Shin Leong were unparallel, almost identical. The Yaw Affair put the WP in a very bad light and caught Low Thia Khiang with hands tied behind his back. There was nothing that he could do except to swallow humble pie, took the slaps, left and turn the other right, meekly. What else could he do otherwise?

It was a great triumph for the PAP. They stood on high moral grounds and principles. They slammed the WP thoroughly with everything they got. Every point that could be scored was taken. The defeat was almost complete, nearly, if not for the result of the by election. That was a rude awakening to the PAP, that despite standing on high moral grounds and from a recent moral victory, they still lost the seat to the WP.

Though the WP managed to secure Hougang, they were treading on dangerous ground. They need to take a very low profile, be very careful and meticulous, not to make any mistake till the next GE. They must hold the ground tightly. Another scandal will be the end of all the good works they have done.

The PAP was waiting outside the fence, looking for holes and waiting for a clear opportunity to score a decisive goal. They needed time for the shaky ground to turn sour for the WP.

No one in the WP or the PAP could ever dream of this Palmer Affair that is going to present the WP with a penalty kick. In the last assault on the WP during the Yaw Affair, the WP must have conscientiously recorded every word the PAP and its ministers had said. Low Thia Khiang may have even etched these words on his back, never to be forgotten. Now he is being presented a chance, on a golden platter, to serve the same words to the PAP with glee. I can see him smiling.

Every PAP ministers who had spoken would now be put to test to stand by what they preached, on high moral grounds, to say the same in the Palmer Affair. Twisting and changing their stance would compromise their integrity and subject them to public scrutiny as men and women of principles and high morals. Not chastising Palmer/PAP in the same way they did to Yaw/WP is unacceptable and will call into question their honesty and sincerity as men and leaders of a just and fair society. Would they deny what they had spoken, steered away and hide in the corner to wait for the dust to settle? Unfortunately this dust will not settle until they say the same things once again, to Palmer and to clear their party of such improper conduct, to be seen as fair and consistent on acts of misconduct and behaviour. Everyone of them will have to account for the same mistake of Palmer.

It is a tough call, to swallow one’s own words. There is no where to hide. Every word they said is on record. Would it be apologies not enough?

Punggol East SMC up for grabs

Would there be a by election in Punggol East with Michael Palmers’ resignation? I think so, and many also think so. What do you think?

The opposition parties would be having a pow wow now on who should have the right to contest this seat. I couldn’t remember who fought against him the last time. If I am not mistaken it was a 3 corner fight with Lee Li Lian from WP and Desmond Lim the third candidate from SDA. These two parties should have priority or the first right of refusal to fight the seat one more time. This seems to be the guiding principle among the opposition parties and may help to defuse a power struggle and bad blood from spilling.

Punggol East is near to Low Thia Khiang’s stronghold of Hougang and Aljunied. Is it going to be another PAP versu WP fight and SDA again? Or would it be a two party fight?

Michael Palmer resigned due to grave mistake.

It is in the news. The Speaker of Parliament, Michael Palmer, has resigned due to ‘grave mistake’ of improper conduct. It was quoted that he had a relationship with a staff in the People’s Association.

Strangling the CPF golden goose

The CPF was the best thing that could happen to Sinkie workers. The high contribution rate was a bit painful for the start, but on hindsight it is actually planning for the ugly future that Sinkies would have to face. Sinkies must by now realize that their income is an income to last 3 or 4 life times.

They need the income to keep them alive during their productive years. Count this as one life time. They need an equal amount or more with inflation added, to keep them alive for another life time when they are unproductive or retired. They also need an income of an equivalent amount to bring up children. Now there are two big expense items equivalent to their life time expenses, housing and private transport if they want that comfort. And if they are unlucky, they need a much bigger sum, more than they need in a life time to pay for the days they need to be hospitalized.

A Sinkie needs to earn 5 or 6 times an income during his working years. Sinkie must divide whatever income he is getting today by 5 or 6 times. He can only afford to spend 1/5 or 1/6 of his income if he is to survive the journey. For a Sinkie earning $3000 per month, he can only spend a max of $600 if he is to survive to his retirement age. Actually the CPF was very well positioned to do the job until….

What the Sinkies did not prepare for, beyond their control, is that some wise guys got an enlightenment. They saw the huge sums of money in the Sinkies’ CPF and started to plan to use this for all kinds of things. Make public housing affordable according to how much the Sinkies can afford to pay from their CPF. They forgot that the Sinkies needed the money for a life time for many other needs. Now the CPF is practically empty or just enough for housing alone.

The CPF was the golden goose that lays the golden eggs. Now the eggs are gone or going. The goose is being made to lay more eggs but cannot keep up with losing the eggs. And when the goose is old and dry, when no more eggs can be laid, and no more eggs are left for winter, it is like a futile exercise. The golden goose is expected to lay a life time of eggs for the golden years. But the eggs have all been harvested, gone long before anyone knows what is happening.

Struck by lightning

Last evening on my way back, the sky was ominously dark. Lightning and thunder bolts were striking everywhere. It was like the gods in heaven were angry. Those under the shelter in the MRT stations should count themselves lucky not to have been in the open as the gods are blind and lightning can strike anywhere.

This morning I flipped through the papers thinking that the lightning could cause some damage to structures or even hitting people in the open. The golfers are particularly dangerous in such foul weather. Luckily there is no news of anyone being struck by lightning.

All peaceful under the heaven again. 天下太平.

The Sinkies have arrived!

For 46 years of nation building and wealth creation, Sin City has reached the peak of its destiny as the richest people in the world. Many are well educated and rich beyond anyone’s imagination. The workers are rich, the cleaners are rich, even the beggars are rich. In the high places, the top honchos have this craze to want to employ the angmohs to work for them, to call them boss and to order them around. They walked around with the angmohs hanging all over them like an accessory statement of having made it.

In the shopping centres and other working environments, foreigners were employed in great numbers to work at lesser pay. In the home front, maids from other Asean countries and even those from China and India could be found working for the aunties and uncles in the HDB. The lower middle class uncles and aunties are living in half a million dollar public apartments and served by maids. Some of these flat dwellers even have more than one maid. The affluence is widespread and flattering.

The table is about to turn with masters becoming servants. The employers of foreigners are getting a taste of their own medicine when the foreigners are starting to usurp their roles to boss around with the locals. A Pinoy, Carlos R. Pestano III alias Kaye Pestano, who claims to be a Process Engineer with “Seagate Technology International” has posted in his blog claiming that the locals are just rotten and working under him, that he is bossing all over them. And he proudly pronounced that they are here to stay, and the locals can lump it. The veiled contempt is now in the open.

This is shocking to many Sinkies. How could a Pinoy be so arrogant and said he is here to stay without the permission of the Sinkies? And horrors, Sinkies are working under him! There is outrage in the internet with many Sinkies crying for his blood. Some even complained to Seagate and Seagate has obliged by saying that the matter is being attended to immediately. Seagate has now made an apology to Sinkies and promised disciplinary action.

This cannot hide the fact that many Sinkies are now working under foreigners, under foreign talents, even if they acquired a brand new IC. What is stunning to the Sinkies is the fact that a Pinoy could spite them and talk about them with scorn, right here in Singapore. In his postings he bragged about Sinkies working for him not in the Philippines but in Sin City, the home of Sinkies.

What else can Sinkies do? Some may want to suggest to the Sinkies to reflect on themselves like when they were called doggies. Sinkies must by now realise that the fake and meek expression and demeanor of the foreigners here harbour a strong dissent and dislike for them. No matter how they tried to appease the foreigners and inviting them to free lunch and parties, the foreigners will never like the Sinkies. They are here only for the jobs and the money. Period. There are exceptions.

When the Pinoy find it up to it to look down on Sinkies in Sin City, I must say, the Sinkies have arrived, at the lowest rung of the people of Southeast Asia, below the Pinoys. This is the real spur that is needed on their hide. Ouch, it is painful huh.