Ridiculing virtues

What are we becoming when all the age old virtues are now only good to con the kids in schools? We used to teach our young about honour, respect, honesty, love, passion, loyalty, country and nation. Today these values are as good as how much one can trade them for. You want honour, honesty, loyalty, country and nation, how much are you going to pay for it? Even the position of public office is not worth anything unless it can command a lot of money. What is so great about being a minister when you end up with lesser money? It used to be a great honour, a place in history, a pride of the family to see a son becoming a govt official, and what honour will that be if that son becomes a top official, a minister? Today, it is seen as a monetary trade off, a sacrifice, a big sacrifice. Actually many would not want to be a minister. Too much of a sacrifice. For goodness sake, lets not belittle the honour of public office. Let's teach our young the right values, let's go back to some of the virtues that we cherish and can live by with pride and honour. Money is good, the more the better. But up to a point, there are things that money cannot buy. Oops, I am talking nonsense again. Anything that can be monetised can be bought. That is Uniquely Singapore. There is a paradise in heaven, there is one on earth. The one above exists without money. The one below exists because of money.

The impending reality of Malaysian politics

While UMNO top brasses are trying to outdo and kick one another out of the cabinet, Anwar is quietly building up his forces. And any time, one month or six months, the whole UMNO cabinet ministers may end up without a job and be opposition backbenchers. What are they fighting for when their days are so limited?

A special hotel in paradise

The guests have single rooms. They have special areas for worshipping and were guided by religious teachers. When they are in trouble, they are assisted by counsellors. They wore new clothes and spruce up for family visits. The hotel is operated under a holistic environment for rehabiltation. The hotel is in Whitley Road. And all the rumours about harsh punishments were just rumours. Dr Rohan Gunaratna, head of Singapore's Internationa Centre of Political Violence and Terrorism Research, said, 'The rumours you hear about harsh treatment are not true. The conditions there must be conducive to rehabilitation. If you treat them badly, their resentment will grow.'

800 more chips on the table

800 chips of $1m each are on the Merill Lynch table. Temasek had earlier bought US$4.4 bil worth of Merrill Lynch shares and with the additional $800 mil through exercising its option, it now holds near to 10% of Merrill Lynch. Would this large holding qualify Temasek to have a say and the management of the company? Or we are so trusting to let the Merrill Lynch managers to run the show at will and believing that they will manage the company for our interest? What are the safeguards to protect our investments? It is incredulous to put in so much money and did not have a say in the company. Today paper reported that 'Temasek is currently sitting on paper losses of US$1.2 bil from its investments in Merrill Lynch and Barclays.' As long term investments, the returns will come in in a matter of time. As for concerns on the long term time frame and lack of disclosure on grounds of secrecy, investments in such high profile institutions cannot go unnoticed. These organisations are subject to public scrutiny in their own countries and any mismanagement or poor showing will be exposed quite quickly as in this case. They may hide and delay as much as they like, but they can't hide forever or for too long. The truth will be out sooner than expected.

More money into UBS?

'Singapore's GIC may participate in UBS rights offering - report April 14, 2008: 09:17 PM EST SINGAPORE, Apr. 14, 2008 (Thomson Financial delivered by Newstex) -- The Government Investment Corporation of Singapore (GIC) may participate in the 15-billion Swiss franc ($15 billion) rights offering of Swiss investment banking giant UBS (NYSE:UBS) AG, the Wall Street Journal reported on Tuesday, citing unnamed sources. This will be the second time that GIC will be injecting capital into UBS following an 11 billion franc investment in December last year....' This time they are going in with eyes wide open. The first time they went in there were some uncertainties and a little wet behind the ears. This time there is no excuse if they foul it up. Basic questions, is this a bottomless pit? Are all the woms out crawling? Is there light at the end of the tunnel? What are the safeguards and protection to our investments if there are more than meet the eyes? The worst thing that can happen is to put in good money after bad money. Better do all the homework thoroughly. Billions of our money are at stake.