Sequel to ‘Do not underestimate the Malaysians’

Temasek ignores downgrades, is very optimistic on India story


Mydigitialfc.com, 5 Jul 2012 by Rajesh Abraham


Temasek, the investment arm of the Singapore government, on Thursday said it was “very optimistic” on India’s long-term potential, dispelling fears expressed by rating agencies which downgraded the country’s outlook recently.


The Singapore sovereign fund, …said it would continue to bet on Indian companies, which are proxies for the country’s economic growth. India accounts for 5 per cent of Temasek’s 42 per cent exposure in Asia.


The sovereign fund has $109 billion worth investments in Asia, making India investments at nearly $6 billion….



This is an extract of an article by Rajesh Abraham reporting from Mumbai. I like his use of the word ‘bet’. It is not investment today is different from the past. All are taking a bet. The only difference today is the betters are betting big time today, not with their own money but with OPM.



And while Temasek has its gun sight lined up at India, Malaysia is lining up to acquire the assets in Singapore. Not a bet deal really, selling Sinkie assets at a high price and buying cheap in India. The return is tremendous, and both ways win, making good profits at home and potentially bigger profits in India. This is putting the win win formula into practice.

Vindication of high pay no corruption

HongKong’s Housing Secretary Mak Chai Kwong has been arrested and under investigation for benefitting from housing policies while in office. He and his colleagues took advantage of loopholes in housing policies to gain financially.

We don’t have such incidents since the govt started to pay to prevent corruption in public service. Imagine how serious it could be given the predominant stake in public housing and how public servants and ministers could take advantage of policies to line their pockets and investments.

Thanks to our high pay policies that such thing did not happen here. It is about time to review whether it is necessary to raise the pay of ministers and public servants given the reappearance of a few high profile corruption cases recently. Better be proactive and nip the problems in the bud. If there is a need to increase the pay, better do so quickly to save the embarrassment like the Hongkong case. Our foresighted govt should act quickly and can be depended on doing this wisely.

Hongkong should send a team of civil servants here to study our high pay no corruption scheme. And since no angmohs are acting as consultants, the fees will be nominal if any.

When justice stood firm

This is an unbelieveable Sinkie story of the year. A cleaner challenging the PM on a point of law. The AG office going all out to get the case dismissed. And a judge that stood firm and wants it to be heard, something that many Sinkies do not believe will happen in their life time.

Justice Philip Pillai has dismissed AG’s second attempt to strike out the Hougang by-election case in High Court. The case is now set for hearing on 16th and 17th of July in open court.

Mdm Vellama, 42, filed her application in High Court in March after the Hougang seat became vacant and after the Prime Minister’s statement that he could decide ‘whether and when’ to call a by election. It thus became a case of how much discretion a PM has with regards to the calling for a by election. Apparently the law is not quite clearly defined and subject to interpretation and the PM’s discretion.

Vellama was just asking for an interpretation of the law. I am still puzzle why the AGC is bent on dismissing this case which would mean that no one is wiser about the law.

It is astonishing for the court to stay its position and to grant a hearing to clarify this part of the law. I am sure all citizens would want to know what the law really meant and the limits of the PM’s discretion, and also the need to call a by election when a seat is vacant.

This is the kind of transparency we need and we want in a rule of law country, when the law is clear to everyone. Cheers to the judiciary system. My respect to Judge Philip Pillai. He has won so much admiration for his ruling and a pat on the judiciary system.

Either now or later

China has no choice but to defend its territorial sovereignty, either now or later. The concerted conspiracy to force the issue on China is getting closer to a flash point. The Japanese are making more wild gestures to rip Diaoyutai from China. They even cooked up ridiculous acts like buying the island as if it was Japanese land, ignoring it as a piece of Chinese territory. It is a repeat and revival of the arrogance of the Japanese Imperialism in the 19th Century. The Japanese still think they can bully China and seize or occupy Chinese land at will.

In the Spratleys and Paracels, the Vietnamese and the Philippines are agitating their claims through Asean. The Empire behind the whole conspiracy is quietly planning and moving its military pieces into the region.

China has no choices left. It has to put its foot down and establish its control over its territories. Any hesitation and wavering will be seen as weakness and will encourage more adventurism from the provocateurs. The earlier that China makes a stand by sending its naval craft into the islands the better. It must let the trouble makers and opportunists know that China will fight them off and the provocations should stop there and now. China is no longer the Sick Man of Asia and its land is not for distribution.

The US will be there screaming and shouting foul. That is exactly what the US wanted to do. It is now or later, and better now than to allow the provocateurs to keep inching in nearer for a fight. A bloody nose may be needed if China is to avoid further advances from these countries. This position must be made known, clearly, with no buts, to the Asean leaders in Cambodia. Let no one have wild dreams that they could divide up China’s territories like the West did in the 19th Century. It is also about time to put Japan in its proper place, that all Chinese territories must be returned and compensation for seizing and colonizing Taiwan. The confrontation with Japan and the Americans over Chinese territories will come, only a matter of time and in what form.

Changing faces, changing sides

The 50s and 60s, the post war period, was best exemplified by the rivalry between Communism and Western Imperialism leading to Cold Wars and proxy wars. The bad guys were the Communists led by the Soviet Union and PRC. The good guys were the USA and its European and Asian allies. Soviet Union and PRC were everything bad, from poverty, military aggression, exporting revolution, and supporting insurgencies to regime change and espionage. The good guys, the Americans and allies were protection of free trade and development, economic aids and a better materialistic well being for the people on the side of goodness. The good and bad were very clearly defined, the Communist camp versus the Capitalist camp, the rich versus the poor, the haves versus the have nots, first world, modernization, economic development, versus third world, underdeveloped or developing countries, poverty and backwardness.

How the world have changed today with the two sides switching places. The rich Americans and European countries are stuck in a financial and economic crisis that could turn them into beggars, broken economies, corruption and bankruptcies. On the Communist side it was all development, development, trade and loans to the developing countries. The Russians and Chinese were everywhere signing trade and development agreements. The Americans were everywhere signing defence pacts and military agreements, conducting war games, inciting rivalry, supporting insurgencies, conducting regime change and fighting wars. The Russians and Chinese were all businesses, in business suits, buying and selling raw materials/goods/services all over the world. They carry briefcases with loads of cash to trade. The Americans were everywhere in their infamous pixilated uniforms, in military and naval crafts, with guns in hand, fighting and selling weapons, and killing framed enemies.

The Americans and their western allies are still calling themselves the good guys fighting the bad guys. But the two big bad guys are not fighting and did not carry guns on their foreign diplomatic trips. Wars, military rivalry and weapons are least on their minds. It is trade, buying and selling of commodities, raw materials and finished products that they carry with them. On the other hands, the Americans are selling weapons and weapons and nothing else, and threatening countries with sanctions and regime change.

This good guy image is now only in name. The good guy mask is soon to fall off when the world starts to call a spade a spade. It is such an irony that the two sides, the good guys and the bad guys, have changed sides. The communists are now rich, committed to free trade and engaging in trades and not wars. The bankrupt Americans and the west are raising trade barriers and fighting everywhere. In every international forum, the ‘good guys’ could be seen pounding the table to attack and bully one country or another. The ‘bad guys’ were there to defend the victims and lend them the support. The wolf pack of the ‘good guys’ will be there to tear down countries one at a time, the perfection of centuries of divide and rule to dominate the world. Now the rest of the world have two ‘bad guys’ plus a few newbies in an infant grouping called the BRICS countries to offer a new balance and a new code of ethics in international relations. A new ‘good guy’ pact is being formed to replace the old ‘good guy’ American mafia.