$760 million evaporating into thin air

A report by Gabriel Chen today in the ST says that GIC may stand to lose $760m in the gushing oil disaster in the Gulf of Mexico. GIC was noted to have 200.4m shares of BP worth around US$1.68 billion. With the fast crashing price of BP shares, and if the shares have yet been sold down, GIC could lose up to $760 m, and all, if BP go bust under a series of expensive lawsuits coming from the US. We cannot blame GIC for the loss of this investment. Neither can we blame them for many of the losses as the causes were not due to lack of due diligence. They were proper investment decisions made after thorough research before plonking down the money. The exceptions were those decisions made over a few days when white gods descended from heaven to ask for tithes. Act of god or fate, or just plain unlucky can happen to many investors. Sometimes the bad luck comes in a string. Everything touched turns into waste paper. The contrary can also happen when everything touched turns to gold, giving the monkey a chance to claim credits. We can only hope that this is not the beginning of a string of bad luck and bad investments. If it is, nothing can help and no experts and super talents can do anything about it. At times one must believe in fatalism. The worst case can mean a wipe out of the bulk of our foreign investments, if god willing. Better go and pray for more blessing and abundance.

Why sell properties when you can sell papers?

Selling bricks and mortars, and land, is a very lucrative business. Buy the land, build it into something fanciful, and walla, big profits. But our land is limited and the cost of material is increasingly rapidly. There is also a political cost. Why not sell pieces of papers? The most valuable piece of paper to sell from this little red dot is the Red Passport. I am not sure what is the going rate in the black market for a fake or stolen one. But it must be in the thousands. It is like getting a passport to heaven. The Red Passport carries a lot of weight and makes travelling very convenient and quite respectable too. Why not make it official and sell it to the highest bidder like COE? But no, to avoid queer results like $1 a piece, make it $100k a piece. No worry about double citizenship or national service. It is a special passport. And to make it high class, or only for the high net worth people so as not to tarnish its reputation, the buyer must also buy a property here to have an official residential address. In this way, the cheap skates would not be able to get one easily. This does not rule out the mafias and drug lords. Never mind, close one eye. As long as they are rich, they are welcomed. And we can call this the Premier Passport, with no voting rights of course. Just a convenient card to carry around. Good for revenue and good for the property market.

Thank you Oliver, for the wake up call

The Indonesian intelligence told us that Orchard MRT station could be a terrorist target. There were heighten security patrols from the men in blue and the anti terrorist experts must be fully alerted to such a possibility and probably taking more precautionary measures to make it double sure it shall not happen. Then we have two vandals sneaking into a MRT depot, left behind elaborate graffiti that could take hours to complete, sneaked out and went about their lives as if nothing happened. And the graffiti went on its round across the island without anyone knowing anything amiss till a couple of days later when the train was in for maintenance Having nicely painted pictures on MRT trains are unlikely to prompt anyone into thinking that they are not supposed to be there. How would the public to know that they are not advertisements if the MRT staff too did not have any clue? But then what ? It is too late if it was a terrorist attack. The damage would have been done. Finito! While Oliver may be waiting for his backside to be scarred, in a way we should thank him for testing the security system of the MRT and highlighting its glaring inadequacy. If not of this incident, everyone will still think that the system is in good shape. Now we know it was not. And the MRT may not be the only organization that could be caught with the pants down. There should be a thorough review of the security systems of potential soft targets and to make amends when there is still time, when they are not hit yet. The security agencies may want to conduct random tests on possible targets to assess their security worthiness and readiness. Maybe they can hire Oliver and his British partner to be the testers.

IF, a big IF....

Before any impartial investigation team was allowed to verify the findings on the sinking of the Cheonan, many quarters already found the North Koreans guilty and wanted to punish them. From the little girl in the White House to the Govts in Seoul and Tokyo, and the professional journalists here also accepted the evidence provided by the American/South Koreans as the gospel truth, with no need to question. Now it seems that there is another side to the story that sounds even more credible. Even then, I always used the word IF. Never have I jumped into conclusion that my theory is the final truth. I just find in nauseating and silly for people to jump into conclusion without questioning how the evidence was obtained or created. And when I posted the Madsen article, I also advised the readers to be objective and find their own conclusion. Which joker claimed that I have jumped into any conclusion? Until the real truth is out at this point in time it is all politics and polemics. It will be very interesting if eventually the truth points to the Americans being the one that pulled the trigger. If that be the case, would the little girl in the White House cry running to mummy complaining that someone had bluffed her? Would South Korea break off relations with the US? How would the South Koreans react to the sinister plot of killing their own people and pointing at an innocent party? And how would the Empire look like in the eyes of the world. IF...the Americans lie....

Reciprocity in action

We welcome the foreigners to work and live here. We have laws that protect them. We invite them to our homes, organise parties to make them feel welcome. We even waste water which citizens are forbidden to do, to help them celebrate their festivals. And when they are in the lurch, we open our purse to help them. Our govt even went to the extend to convince the people on how important the foreigners are, and how they help and contribute to our economy. In short, we have been very kind to the foreigners. The least we can expect from the foreigners is for them to be decent and law abiding residents. But there will be some black sheep that will not only break our laws but also hurt our citizens in the most cruel ways. These are not the average foreigners working or living here. These are the beasts that would not care a dime if they harm or hack our citizens to death. Shall we be kind to these beasts as well? I always believe that this is our home and the citizens must have that special place in his home. And if foreigners come here to hurt our citizens, we must be very harsh and hard on them. Harsh measures are only targetted at the hard core and vicious criminals and should not be in anyway seen as being anti foreigners. It is anti beasts, anti animals and anti criminals that cause serious injuries to the people. The seven criminals that went out to hack at their victims brutally, do not show mercy on their victims. So they deserve no mercy. By dealing hard on them, we are not only protecting our citizens, but also law abiding foreigners here. We need to keep this place peaceful, orderly and safe.