Indonesia concerns about security issues with Singapore

‘A non government organization has filed criminal charges against State Owned Enterprises Minister Rini Soemarno for authorising Indonesian communications provider Telkom to build a data centre in Singapore, which is partly owned by Singtel and would host Indonesian government data…it had no issues with the data centre serving corporate clients, but that its proposed hosting of Indonesia’s e-government services violated state intelligence and electronic communications laws. “What we’re reporting about is the sale of state secrets,” Mr Gigih Guntoro, director of the Indonesia Club…’

Why is Indonesia so concern about such practices? Singtel owns 60% of the joint venture? What Indonesia should do is to buy over Singtel and have full control over its operation. Singapore’s policy is that everything is for sale. Singapore tried to buy the Australian Stock Exchange too. So the Indonesians can always buy over Singtel and all issues of state secrets would be solved by employing Indonesians to run Singtel.

Singapore is an open country and it is in the process of internationalizing everything, starting from private corporations to govt link companies. Do not be surprise if ministries may also be internationalized. There are already foreigners working in them. The security of the country like manning entry checkpoints have already been outsourced and manned by foreigners to check on Singaporeans returning to their country. Big govt linked companies are run by foreigners, and to by pass the sensitivity of Singaporeans, foreigners are issued with pink ICs and called Singaporeans. Where got problem? If any of these new Singaporeans were to leak out state secrets, it would be Singaporeans leaking state secrets as they are now new Singaporeans. And the good part, so far no such problems. No state secrets has been leaked out, no sensitive corporate information or trade secrets have been leaked out. There has been no report of such things. Where got problem?

The Singaporean experience has proven that all the hype about national securities are humbugs. More than 50% of our population is foreigners and many are holding high positions with access to very sensitive information, and some running corporations and with full access to all information that could be copied and sold. But nothing of such happened. Even the highly sensitive IT industry is operated mainly by foreigners and you can imagine what damage they could do if they wanted to. But have no fear. The foreigners are very nice people and would not do such things. Ask the Pinoys. Have faith in the goodness of people, even foreigners.

So, Indonesia, there is no need to fear locating govt data centre in Singapore. If still not comfortable, buy over the whole of Singapore Inc and run it yourself. That would make them feel secure for sure. It is just the mindset. Singapore has no such fear. We welcome the whole world to be here. We belong to everyone here. We are an international cuntry. Oops. I misspelt. It should be country.

And our people feel very safe, because we got NS and Total Defence. We protect our country from a military attack by foreign soldiers in uniform. But anyone can buy up everything in the island. Everything is for sale. Everyone is welcome.

We are international. We go everywhere to buy up everything. We also sell everything. Free trade at its freest. When a country has the mentality of buying and selling freely, then one would be less sensitive about security of data and information or threats by foreigners.

Indonesia can learn a thing or two from us in this internalization of the country and free trade, borderless world. What is citizenship?

SG50 - Money, money, money everywhere

For the first time, the Govt seems to have so much money to throw to the people. And everyone is saying the GE is around the corner. That is a side issue, what matters is that the Govt is giving and giving and giving. Every citizen is getting something from the Govt directly or indirectly. And the Govt does not stop there. It is also throwing money to the PRs, the so called locals or residents but not citizens.

How can the people not be happy? How can the people not be having second thoughts not to vote for the ruling Govt? This is a Govt that is giving money to the people and no one knows how much more it is going to give to the people and when will it stop or will it ever stop.

It is SG50, a time for celebration and you cannot celebrate without money. So the Govt is going to stuff money in the pockets of the citizens. And everyone is happy that no one bothers to ask, where is the money coming from, whose money is it that the Govt is giving to the people? Would the giving be so excessive that it would kill the goose that is laying the golden egg.  Would the Govt get carried away with so much money to give as if there is unlimited money available?

The people’s money? Who says that? The money the Govt is giving the people is the people’s money and it is just returning some to the people to make them happy. It is one of those too good to be true story. And when something is too good to be true, should not the people be wary? What’s next? The budget must be balanced, what the Govt is giving out must be within the budget and if not enough or over spent, then the Govt would have to take it back somehow, from someone or from somewhere. The Govt cannot simply print money to give away without having to account for it.

Where is the money coming from? Whose money is it in the first place? When Lily Neo was asking for a few dollars for the needy, the govt or someone was unhappy. Now, the rich also got, the poor also got, the non citizens also got.

Like that also can. Why give money to the non citizens? You know how many of them will be getting something from this SG50 celebration? The Hokiens say, ‘Cheng hu chin tua kang’.

Lily Neo, this is the best time to ask for more help for those under public assistance scheme.

China versus India, everything wrong in China but everything right in India

I was reading this article, ‘A rising India poses a threat to China – but not just yet’ in the Today paper on 18 Jun by YooLim Lee and William Mellor. The main point in the article is that everything in China is wrong, the Chinese are doing everything wrong, and are faced with mountains of problems. In India, everything is right and everything is going for India, with a pro business Modi calling all the shots and India would be overtaking China in a matter of time. And they have a lot of evidence to prove their points, no guessing stuff.

Under ‘China’s headwinds’, China’s economy has slumped to 7% growth rate,  their strategies are misfiring, one child policy leading to lack of cheap labour, the economy depending on cheap and low priced exports, govt spending on infrastructure gone to waste through corruption or building ghost cities. China is desperately trying to transform its unbalanced economy but will be very bumpy and create many losers. The perpetual hope that China will prop up its economy is misplaced. There are big concerns on China’s huge debt and deficit. In other words China is doom.

In India, the economy is expanding and its growth rate ‘will be 7.5%’ after India revised the way it calculated its growth and changing a 4.7% growth into a 6.9% growth. And there is the able and pro business Modi opening up investment of railways to foreigners for the first time though China has opened the whole country since 1978. And Modi also ‘raised foreign ownership limit in the defence and insurance industries to 49%  from 26%...scrapped diesel subsidies and pledged to unclog transportation and build cities.’  Impressive.  Modi is also as tough as Xi in tackling corruption by supporting a law for prison terms up to 10 years.  I think China either executes corrupt officials or imprisoned them for life. And Xi has arrested more than 100,000 corrupt officials. Modi would soon be starting to arrest some corrupt officials too.

While all the evidence is pointing to a crumbling China losing its way and messing up its economy and India is doing all the right things to catch up, the article also pointed out a few funny statistics. China’s economy is US$10 trillion compares to India’s US$2 trillion. China has been growing at average 9.8% since 1978. And even if India were to grow at 8% and China slowed to 7%, ‘China will still create another three Indias before the decade is over.’

The duo forgot to add that Xi has another 8 years to run his China while Modi may be voted out in 3 years time. They concluded that despite all the wrongs in China and all the rights in India, ‘At the end of the day, the China India rivalry is no contest on most fronts. In economic clout, military might, geopolitical influence, literacy, health, life expectancy and even sporting prowesss, it will be an unequal competition for years to come.’

While they quoted a Morgan Stanley analyst, Ruchir Sharma saying China may not even be paying attention to what is happening in India and the so called challenge, as ‘China’s strategic game is much bigger’, the two still concluded that ‘India’s rise presents one challenge China’s Communist Politburo may find impossible to match…India’s very existence is an example to third countries that they can be democracies and grow. ‘  The 3rd World countries will thus be blessed to have the India and China growth and development models to choose from.  One has succeeded but full of problems and another full of aspirations and full of hopes and full of promises and aspiring to be successful. Shall I add full of ‘no problems’?

Chinese goods are chopped, ‘Made in China’. Modi is trying to sell ‘Make in India’ goods.  See the difference?

More ministers must go on leave

We have sent many delegations overseas to learn from other countries their best practices. We have sent several ministers to Japan to learn how they take care of their seniors. So many ministers have gone on study and education trips and nothing much heard from them after their return, as if nothing was learnt. They must have learnt a lot but may not want to brag about them. There is so much humility in these learning trips for our super talents to be learning from lesser beings. It is abnormal for multi million dollar talents be learning from lesser talents being paid a pittance.

What is more interesting is that Hsien Loong did not go on a study trip to Japan. He was on leave, on holiday. And he learnt something useful for Singapore. He went on a cycling trip on a disused railway track in Kushiro, Japan. So sad that he could not find a good bicycle track to cycle in Singapore. And eureka, something good came out from it, a brilliant idea dawned on him. Our disused railway track can also be converted to a bicycle track for cyclists. See the numerous advantages! For the cycling community, they would finally have a track of their own, safe and very long and exciting. And if they were to line the track with blossoms all the way, it would be an amazing sight for the cyclists.

Imagine cycling for miles and miles of orchids, then hibiscus, and the next change could be cannas, and then lantanas, ixoras, cassias, flame of the forest, maybe tulips and daffodils also.  But be careful on this. Singaporeans have this craving for planting everything in a plot and you will be seeing a jungle of different flowers that you can’t make out what is what, just like the integration of foreigners from all over the world on a piece of rock.

And the cyclists would be safe from the dangers of our narrow roads with bulldozers and fast cars and irritating motorists. Children and grannies can all participate in this spot. And not only for leisure, people can go green by cycling from the North to the South and vice versa, to and from work. What a great idea!

And this idea came practically free, while Hsien Loong is on vacation, paying for everything from his own pocket. I think this is more productive than sending entourages on study and learning missions on Ah Kong’s money.

This gives me another good idea and I hope Hsien Loong also got the same inspiration. No more study and learning trips. Ministers going overseas to learn are unlikely to learn much on official trips. It is the relaxing mood of a vacation that the creative juice will flow and they can learn more. Maybe an incentive is to pay them for any great idea they brought home after a vacation. Those going on overseas cooking trips would definitely have plenty to share and can be rewarded.

What do you think? Should we encourage more ministers to go on leave and be productive?

Open letter to CEO Loh Boon Chye

The most important question everyone needs to know about computer trading, algo and HFT, with computers of external agencies plugged into the SGX system to gain access to information that other investors did not have, to be able to use high speed computers to trade ahead of the masses, would these advantages be construed as unfair trading like having insider information? And if the use of computer trading to gain access to information not available to the rest of the investors is a violation of the SGX’s principle of providing a level playing field, and is a violation of SGX’s by laws, should these still be condoned? Is the SGX in breach of the bye laws?

If the answer is no, then by all means continue to allow the computers to be plugged into the SGX. If yes, the new CEO should not want to be a party to it as it is only a matter of time before SGX is sued for this breach of its bye laws. As the new CEO, it would be prudent to review this practice and confirm that there is no breach of any bye laws. If this practice is wrong and not stopped, then the new CEO would also be culpable for allowing it to continue under his watch.

Is computer trading a violation of SGX’s mission, principles and bye laws on fair trading practices and insider trading? Are the rest of the investors put in a disadvantage position because of these computers in the system?