GIC, a comforting change

Ng Kok Song, the 64 year old veteran Chief Investment Officer of GIC has retired. He is replaced by a younger Lim Chow Kiat, 42. This move is not only comforting but also reassuring. Song Seng Wun of CIMB also agreed that it is a good move to promote from within.

My beef is more than that. With the influx of so many foreign talents, some dressed up as Sinkies waving their pink ICs, it is so scary that many of them will sit in many strategic positions in govt or govt linked companies. I never like the idea of foreigners or new citizens taking up such important positions, managing Sinkie money and assets. I can be trusting and generous in thinking that human nature can also be good. But never be too trusting of strangers. Important positions are best left to true blue Sinkies. This is their home and this is where they belong and where their interests lie.

Let’s hope the Govt will take this point very seriously and not foolishly give away important and strategic positions to foreigners, including PRs and newly minted citizens. The Govt must be prudent and ever vigilance over national interests and the wealth and assets of Sinkies. It is also a way of developing our own human resource and talents, providing them the opportunities to be groomed into such positions.

The banking and finance industry is in a very pathetic state of development where locals will not make it to the top unless father happens to be boss man. So only foreign talents will be given the chance to try and experiment in top banking positions. This piece of GIC news is crucial and hopes it will be the new trend to use Sinkies for such strategic and important appointments in the private and public sectors.

Charity begins at home.

Lee Hsien Loong taking legal action against blogger Alex Au

Prime Minister Lee Hsien Loong speaks to media representatives from Singapore and India in this file photo. PM Lee is taking legal action against blogger Alex Au for allegations made in a post about the sale of computer systems used by town councils. -- ST PHOTO: CAROLINE CHIA

Alex Au has written a 4 part article on the Town Council Management System and its sale to AIM. In the article he touched on many pertinent details of the saga that may prove to be too much for the Govt to ignore. It seems that there were allegations made against Hsien Loong amounting to corruption. This has led to the issuance of a letter by Davinder Singh from Drew and Napier demanding that the article be removed.

Alex Au has since complied and had the article taken down. It was also reported that he had made an apology in his blog as well. But is this the end of his trouble with the Govt? If the above quote is correct, Hsien Loong is going to take legal action against him. At this juncture I am not sure if taking down of the article and an apology will be sufficient or will the Govt or Hsien Loong continues to sue him for defamation.

8 hour paying job

In general, the pay for an employee or office bearer is computed based on his contribution for an 8 hour day or 44 hour week making up to a month. An employer can expect an employee to be at work for 8 hours daily or its equivalent. Some employees may moonlight, take on a second job elsewhere but on his own time, and do not infringe on the 8 hours of work time committed to his employer. In such instances, all is fair and the employer may not want to interfere with the employee’s other preoccupation as long as it does not affect his work.

An employee that takes on two jobs, with two full pay during his normal working time is actually doubling his pay by working 4 hours for each job daily. If he takes on 4 jobs, his working hours per job is only 2 hours daily and his pay, assuming the same for each job, will be quadrupled.

Imagine someone having 8 or 10 jobs over the same 8 hours working day, his contribution to the organization is 1hr or less per day for each job. And he is being paid fully for 8 or 10 jobs. These are simply wonder men and wonder women.

Readership of mysingaporenews.blogspot.com

After 8 years of blogging, mysingaporenews has become a staple diet for many Sinkie bloggers and those hungry for alternative viewpoints. The readership has spread far and wide among the English speaking world. Other than Singapore, the United States, United Kingdom, Norway, Malaysia, Australia, Germany, Russia, Canada and Hongkong constantly registered high readership. Viewers also came from Taiwan, Sweden, Poland, Ukriane, China and India and occasionally from some other countries as well.

Today the blog has a pageview of 1,457,524. The daily pageview has also risen from an average of 3,000 to about 4,500. A total of 6,780 articles have so far been published with at least an article a day.

Mysingaporenews is quite an international publication in its own way. Its articles have been reposted in other social media aggregators like Temasek Review Emeritus, Singapore Daily and Singapore Alternative News, to name a few.

Keep up the good effort guys and gals.

PAP in an awkward position

It is not what you think. It is not a 69 or 66 or a 99. It is neither about Michael Palmer. The PAP has always been on the right side of things, or on top of things. This time it is like the gun is pointing at the wrong direction, at the PAP. The AIM thing is looking very awkward for the PAP.

This time the Town Council or the Town Council Chairman, or the directors of AIM are all synonymous with the PAP. They are the PAP. Now there is a certain act that the legal counsels will say that there is a prima facie case to answer. All the facts are on the table, or almost all. And the people are asking for more. There are many questions being asked and the answers are still yet to come forward. Whatever answers that have been given were not acceptable, not good enough.

Soon the people are going to ask the PAP to come clean, to be transparent, to tell all there is to tell. Now this is familiar ground, not aiming at the opponents but at PAP. All the guns are trained, big and small, but without the firepower of a coordinated PAP machinery, ministers, MPs and the IBs and more. But in terms of breath and depth, it is far more reaching. It is the people that are taking the PAP to task.

The PAP is now in the dock. Everyone is asking questions. The people want the truth and nothing else will do. The people are making very uncomfortable but reasonable demands on the PAP to come clean and tell all.

Would there be answers? Or would the questions, like the questions on the construction cost of a HDB flat, or the money in the SWFs, be left unanswered? The people are standing on high moral grounds and wanting answers from the PAP. The PAP is in defense, in damage control mode. The people are setting the agenda and the mood of questioning. It is awkward, very awkward. The Michael Palmer saga was awkward until some went into hiding. This one is extremely unsettling.