How much have GIC and Temasek contributed…

How much have GIC and Temasek contributed to the national coffer annually? The combined asset managed by these two SWFs could be near a trillion. One used to claim a return of 17% annually but lately the numbers seemed to be more down to earth, something like 5%. Correct me if I am wrong on this as I am recalling it from some faded memories.

At 5% interest for a sum of $1 trillion it will work out to $50b annually. It the sum managed is $600b, the profit is some $30b annually. DBS Bank’s profit is about $3b lately and used to be between $1b to $2b. The two funds are equivalent to 15 to 25 DBS Banks in terms of profit. In a more general term, the amount could be the profits of a whole industrial estate like Jurong. It is big money and can make the budget that much easier on the Govt.

With this kind of profits, the contribution to the national coffer must be quite substantial and is a major source of national income. How have these returns benefited the people, in what ways, how much, not many people really know. It would be nice for the Govt to tell the people how great the contributions were from these two very profitable organizations and how the citizens have greatly benefited from them. Would there be some numbers coming out soon?

What is Singapore’s GDP now? $300b or $400b? The White Paper is planning for a GDP growth of around 2% or 2.5%. At 2% growth rate, the GDP should increase by $6b or $8b using the $300b as base. And this is what the White Paper seeks to achieve with the import of nearly a 100,000 immigrants annually over the next 17 years. This is really pathetic for the added social and economic costs of housing an additional 1.6m people in the island.

Compare the profits that could be generated by GIC and Temasek combined? With a lower average of $30b in annual profits, do we really need to import 1.6m people just for a token $6b to 8b increase in our GDP and to live with the consequences of a highly densely populated city? If the two SWFs could increase their profits by 10%, they could do what the import of 1.6m people could do. That would be neat isn’t it?

Now I have a better proposal than the White Paper and the WP’s paper. No need to increase the population at all. Just work on the productivity of the two SWFs and to raise their annual profits and there is no need to live in a congested concrete jungle with everything shrinking except the population.

Lim Wee Kiat prefers suicide to euthanasia

“The feedback I received from my friends was that the alternative plans would kill the economy and this is euthanasia for Singapore. Between suicide for PAP versus euthanasia for the country… my choice is clear, I support the White Paper.” Said Lim Wee Kiat.

This is the first time that a PAP MP spoke honestly about what he thought of the White Paper. He knew that it was political suicide. This is one thing that the people will deal to the PAP comes 2016. What is of greater concern is whether the White Paper would also lead the country into a suicidal path. Many think so except the 77 and are speaking out to stop this self destruction down the road. The fact that the country has come to this juncture where the PAP admitted is a crisis of a life time and going along with the White Paper, a road of no return, speaks for the quality of the Govt to lead the country to a safe landing. Sinkies are now offered an option to jump from a frying pan into the deep blue sea.

Why not give the WP’s proposal a chance as they have not contributed to this crisis that needs another no choice do will die and don’t do will also die proposition of the PAP? The PAP may try to run down the WP proposal or any proposal from anyone, and to call it euthanasia. But that is PAP’s view of things and the WP did not think so and neither do the people. On record, every policy or decision by the PAP is a near perfect solution as claimed, a most well thought out solution, carefully calibrated, but still ended up with this crisis of a life time. It is also a historical fact that none, nothing from the opposition will ever be deemed as workable. Thank God that this is the case and the WP can sleep well that they did not contribute anything to the current crisis and needs another crisis loaded White Paper that is, as expected, touted as the only solution for the day.

Could the current crisis be avoided if the PAP had borrowed some ideas from the opposition, listen a little and not to adopt a ‘knows all’ and infallible attitude? The PAP deserves the full credit of what is happening today and the crisis that it has brought to the people. They have adopted the deaf frog attitude to do what it thought were best that lands the country into the current state of affair.

Without the Whip and without any regards to party loyalty, how many of the 77 would vote against this White Paper? When Hsien Loong shouts charge, how many will be charging with him and how many will just stay put and watch him charging ahead? Hsien Loong can be comforted by having the ministers running beside him, and of course Lim Wee Kiat and a few others.

The GE may come much sooner than 2016. This White Paper could have caused a serious rift within the PAP and a break could come into the open at the earliest opportune time. Surely not every PAP MP is agreeable to this suicidal path. In the last breakout the breakaway camp formed the Barisan Socialis, But history was not on their side and PAP came up tops. Barisan Socialis is history. The impending break could turn the table and the PAP could be on the losing end. All it needs is 37 PAP MPs to walk away to form a coalition with the WP, they could form a majority and the next Govt. This would force the PAP to call for a GE prematurely.

Don’t say not possible.

Who is qualified to comment on national policies?

‘According to the snapshot which TR Emeritus (TRE) received from a regular TRE reader, a Facebook user calling himself “Zhi Hao” has opined that only those who have studied economics, law, sociology, history, anthropology, public administration, public policy, national politics, international relations, comparative politics, psychology, political organization and political theory are qualified to comment on “policy the government came out with”.’ This is an extract of an article posted in TRE.

I am posting this article in jest. If we agree with this Zhi Hao, doctors and engineers, architects, among those excluded from his list should not be commenting on govt policies and national issues. But can doctors, engineers and architects be politicians and sit in Parliament talking politics and making decisions on national issues? : ) Taxi drivers and the Ah Pehs and Ah Mahs in kopitiams sure not qualify to talk politics. And all those who never make it to universities cannot also.

This is definitely from a young man. It is good to be young and say what you like when you are young and when people know you are young. The young will grow up one day.

Weekend is good for such snippets. Sinkies shall enjoy their blessings while it lasts.

Happy Lunar New Year to everyone

祝大家新年快乐

These are two of my rar arts from the Bloodline Series. Both are untitled. Maybe I shall call them Chinese New Year Celebration I and II.

PM Lee: We are all in this together

The Parliament has passed the White Paper for 6.9m population in 2030 with all 77 PAP MPs voting yea. And Hsien Loong proudly said, 'We are all in this together.' Do the people have a say or a choice not to be part of this madness?

I think Hsien Loong forgot to complete his sentence, 'We are all in this together, all 77 of us.' Did he know that the opposition MPs and the NMPs +NCMPs are not in this together? Did he know that the majority of the citizens are not in this together with his 77 MPs? According to the mini poll conducted in this blog, 97% were not together with him. And this can be confirmed by the number of people that have indicated that they will be attending the protest rally on 16 Feb at Hong Lim Park.

The attendance in this rally is probably one of the most important event in the history of this island. The cramming of additional 2m people into the island in the last 10 years went on sneakily without the consent of the people. The influx of foreigners were allowed in by the Govt and causing a lot of hardship, dislocation and disruption on the lives of the citizens. High cost of living, high property prices, high COEs, congestion, competition for space and services and straining of the infrastructure, transport systems and facilities, are getting on the nerves of the people. The patience of an otherwise very kiasu, kiasi and kiachenghu people has reached a BTH state, beh tahan liao.

And Hsien Loong said 'We are all in this together.' Really? This statement is going to rile more angry protestors. We are all NOT in this together. Wait for the voices of the people at the protest rally to be heard.

Gilbert Goh, the organiser of the protest is overwhelmed. He thought it would be the usual 200 crowd. Now the feedback is not even 2000 but many times more. The news of a massive turnout has wetted the interests of the international media and all the big guys will be there to report on this event.

The Singapore Spring has finally arrived, prompted or initiated by courtesy of the Govt through the highly unpopular White Paper.