How well did Temasek manage our reserves?

Attached is an article on Singapore and Temasek Holdings in the Fortune magazine of 20 March 2006, "Singapore Stumbles". I also refer to Temasek's letter to the Straits Times, Feb 7, 2006, "Temasek's 30-year returns a robust 18%". When I saw this statement pasted in the YPAP forum, I was dumbfounded. 18% in 30 years is considered robust? I put in fixed deposit for 30 years with a 2% interest will give me 60% return with no risk. And if the interest rate averages at 3%, I will get 90% return. What is 18% to crow about and managed by a team of experts and incurring all the risk of losing a bundle if the investment decisions went wrong? Today it was reported that GIC opened its book to detail its investments and LKY said GIC 'has earned an average of 8.2% a year in Singapore dollar terms since 1981.' Now this is more like it. How did Fortune get that 18% figure? I will be deeply disappointed if that is the case.

japan threatens north korea, korea must strike first.

The Japanese have spoken. They are openly threatening the North Koreans of a preemptive strike at their nuclear sites. This threat is an open invitation and enough justification for the North Koreans to launch their own preemptive strike against Japan. The Japanese have adopted a very aggressive and hostile stance in the UN, insisting that the UN and the world must accept their position to take strong measures against the North Koreans. Their behaviour is a mirror image of what they did prior to their conquest of China in the 19th Century, making demands after demands on a weak and semi colonised China. They are treating the Koreans like their former colony and China like the Sick man of Asia. They challenged the right of China to veto their proposal in the UN. It was prudent that China did not fall into their trap and supported their entry into the UN Security Council. The Japanese are now not hiding anything. They are standing up on the world stage to tell the world that Japan is now a military power and will take on China and the Koreans come what may. And their preemptive strike is on the way if China could not force the North Koreans to accede to the Japanese demands. What are the two Koreans going to do in the face of a militarised Japan ready to kick their butts? I would strongly encourage the two Koreans to strike at the Japanese first as a means of defence now that the Japanese have threatened to strike them first.

myth 39

'Singaporeans have a good sense of humour' I think most people will agree that we need to have some humour in our life, and humour makes life that more pleasurable. And I would also think that Singaporeans too have a good sense of humour. But lately I started to change my mind. I think not everyone are equipped with a sense of humour. And the type of humour is also very important. Black humour is acceptable. Any colour of humour is ok but make sure it is not brown humour.

japan should recolonise the two koreas

My last few postings on the rise of Japanese militarism were intentionally very provocative. Just like what I am going to say about the two Koreas. Germany and Vietnam were divided but have long reunited. One fought all the way to unite their homeland, the other came together out of a true sense of nationalism and pride as one people. The silly Koreans are still being kept apart, posturing to kill each other. One a semi colony of the USA, being used as a pawn in the politics of big powers. South Korea is very useful to the Americans as a foothold into the Chinese Northeastern flank and be a constant pressure point to apply when needed. But what is more treacherous is the Japanese ambition to recolonise the two Koreas. It may not be in the form of the 19th century, but it will be another kind of domination. Look at how cocky the Japanese are these few days, threatening to do a preemptive strike to North Korea as if it is another cakewalk. The Japanese really despised and look down on the Koreans, once their subjects. And as long as they are kept divided, Japan will eat them up in bite sizes one at a time. They deserve to be colonised by the Japanese if they don't wake up to the danger they are in. Good luck to the Koreans. Long live the Japanese Empire!

boost to the insurance industry

The latest call to provide insurance coverage to board of directors will give a big boost to the insurance industry and insurance agents. Directors in charitable organisations can be covered up to $1m against suits brought against them in the capacity as directors of the organisations. As explained and reasoned, "They jiak kopi only,..." No pay but work only. Not sure about work, but why jiak kopi only? I think anyone whose job is jiak kopi only should also be protected by insurance. But wait a moment, does jiak kopi means doing nothing? Just attend meetings, jiak kopi and then go home and tell people I am director of this and that big organisation? Would not appointments to positions of responsibility, even jiak kopi and do nothing, come with some responsibility? And would such insurance covers negligence and wrongful acts or criminal acts? Shall all the CEOs, or MPs etc, especially MPs and politicians who are sacrificing for the nation be also covered by insurance to protect them from lawsuits too? After all they do not want to be politicians but were called to do national service? Whatever, it will be good for the insurance industry to have more insurance sold, for the right or wrong reason.