Where to Ho Ching?

This has been the number one question in many people's mind. There were all kinds of serious and cheeky suggestions, from the Presidency to being a housewife. Let me try another proposition. With the kind of talent and connection, it will be a big waste if Ho Ching makes herself redundant. She still has many good years to come and she can still contribute to the country and the stable of govt link companies. It is far better to get someone who knows to do the job than to hunt around or fish around for another genius to come by. Ho Ching should stay in Temasek and continue with what she is or was doing. Why? After going through all the crisis she must be that much wiser as to the risks involved in managing and investing huge sums of money. And Who else has the privilege of a $58b lesson? Tan Yong Soon only had a $50k lesson in France. I still feel that with such a costly lesson that is difficult to come by, she is even more qualified to do the job. Stay on Ho Ching. No one is more qualified than her to do that job. Of course many of you will disagree. But that's how I see it.

Merlion struck by lightning bolt

"Eyewitness Ms Rina Toh, 17, a barista at The Coffee Bean and Tea Leaf at One Fullerton, said: 'I saw a bright Z-shaped lightning bolt, and it was a lot bigger than usual.' " The above is quote from ST online. Our national icon struck on the head by lightning yesterday. And a piece of the head fell to the ground. Must check with the gods what this sign means.

Notable quotes by Chok Tong

'Find ways to honour seniors' Goh Chok Tong Chok Tong said, "It is timely for us to reflect on how to adapt and adjust to this 'silver tsunami'. How we should relate to the elderly, leverage on their talents and life experiences and honour them for their contributions." He also commented about the trend for children to abandon their parents in nursing homes. He warned that how we treat our old today will set the tone for how we will be treated when our time comes. Yes, what kind of society are we? Compare what Chok Tong said and what Boon Wan has suggested, building cheaper nursing homes in JB and neighbouring countries, we get a different measure of the speakers. What Chok Tong said is like what the Chinese saying, 'ren jiang de hua', or the human lingo. Saying things that reflect human values or being human. There is nothing wrong with Boon Wan's idea. Those are very practical, reasonable, cost effective measures for people who have money not enough. But such things can be done, discreetly, and not spoken with a loud hailer. The things that Chok Tong said above will be received quite kindly and agreeable to most people. In Boon Wan's case, ouch, it hits the raw nerve of humanity, of emotions and feelings. These are the attributes that make human beans human. Devoid of them, down playing them, will turn us closer to being inhuman, inanimate. Use and throw away mentality. Now, would there be criticism or anger to what Chok Tong has said? They will be, depending on which angle one is looking at it. Some may split hairs, question his intent and interest. But generally, these are things that politicians should be saying, national leaders should be saying.

A walk thru Chinatown

With my new blog, Singapore Orchids, I have replaced the orchids in this blog with a new series on Chinatown. Orchid lovers and Jaunty can view the orchids in the link to Singapore Orchids. Cheers.

All the way, DBS-Citibank!

Just as I raised my hope for a 7% dividend, it fell flat in my face. And my estimate was way way off. The 7% would have given a return of US$482m pa. GIC could have the money back in no time. Now it is all gone. But don't worry, there is a better and more promising deal. The conversion price which was US$26.35 was watered down to US$3.25 and the conversion to ordinary shares will give GIC an 11% stake in Citibank, the second largest shareholder next to the US govt. And there are more promises along the way. If the market recovers and Citi's price shot up, we could reap much higher returns. If the market plunges and Citi became insolvent or be nationalised, gone with the wind. But the second 'IF' is only a big If. No need to worry about that. In the long term everything will be fine. Now the more juicy part. If our US$6.88b can give us 11% stake in Citibank, it means that the whole bank can be had for no more than US$70b. This is definitely very affordable. Shouldn't GIC launch a general take over of Citibank and merge it with DBS to become an international giant bank? And another piece of good news. There are so many good news and things are looking much rosier. What's that? Oh, Citibank's share price fell to US$1.55. This simply means we could have the bank for less than US$35b. And with already 11% in our hands, US$30b should do the trick. I don't think the US govt will object if we let Chip Goodyear to negotiate the deal. The US govt must be more comfortable with Goodyear in charge. Wow, I think we have all these planned in advance. Great foresight and pro active thinking and decision making. We must have see all these coming. Go for it GIC! Take Citibank under our wings, but make sure the top management are Singaporeans. The Americans can be co opted as advisers. I will definitely bank with DBS Citibank.