GIC cuts losses of nearly $10 billion!

Hsien Loong has announced that GIC had cut its long term investment in UBS by 2.4% and taking a hit of $6-$7 billion according to some estimate. Some put this sum to be $8b! GIC is still holding on to 2.7% of its shares in UBS which means a paper loss of more than $7 billion giving a total staggering loss of about $14b!

When such numbers are rolled out, many could not imagine or feel the impact of such losses. They are just numbers. In fact many big fund managers playing with OPM are too immune and desensitized to losing such big money. It is other people’s money after all, no sweat, no responsibility, own pocket not hurt.

How much is $14 billion? The cost of paying our political office holders is reported to be about $53m a year.  Let’s put these numbers into persperctive. $ 14b is $14,000,000,000, 10 zeros behind the 14. $53m is $53,000,000, with 6 zeros behind the 53. The sum of $14b literally can pay the political office holders for 300 years or till 2317!

This is how much we have lost, just on one bank alone. This is not a plate of char kway teow or even several peanuts. This is big money being lost. How much did WP’s town council lost? Or did they actually lose any money at all? Or how much the other town councils lost during the lemon bond crisis?

Take a deep breath and get a feel of the scale of this loss.  We spent $32.b for 4 submarines, or one sub costs less than $1b. We could have 14 subs for free by not investing in UBS.

B&R – Was Hsien Loong invited to attend?

This matter seems to trouble many Singaporeans as such an important international event when many leaders were attending and Hsien Loong was not when Singapore is hoping to hitch a ride on this massive project to pick up a few contracts along the way. And Cynical Investor has said it is confirmed that Hsien Loong was not invited, a slap that would not go unnoticed.

Here is what Cynical Investor posted in his blog.

One Belt One Rd: PM “not invited”
In China on 17/05/2017 at 4:24 am

I was wrong. PM wasn’t invited to the summit meeting on the above, it seems, going by what Lawrence Wong is quoted as saying. He wasn’t aping Western leaders by declining the invitation and sending ka kiah instead.

When asked why Singapore Prime Minister Lee Hsien Loong did not attend the Belt and Road Forum, which was attended by 29 heads of state and government, including many from South-east Asia, Mr Wong said the invitation was decided by the Chinese.
ST

So reasonable to assume that the Chinese did not invite Prime Minister Lee Hsien Loong.
This non invite may appear to be a diplomatic snub but taken seriously it could fore tell far more serious implications to Singapore. It is not just a continuation of the Terrex fiasco bundled together with the trumpeting of the TPP and the demand that China abide by the kangaroo court judgement on the South China Sea. There are more to it. Well some jokers still openly denied that Singapore did all these things, that Singapore was innocent, an honest broker. Stupidity has no cure but to make such denials in public only proved how stupid these people can be.

Singapore has officially been saying that it supports the B&R project and wanted to participate actively in its development. Why was Hsien Loong left out, ok this is just a view by Cynical Investor, if Singapore is an important player to the maritime Silk Road?

The message is clear, if Singapore is an important part of the maritime Silk Road, there is more reason to invite Hsien Loong to the forum. And if invited, there is no reason for Hsien Loong not to attend, an event that is definitely more important than having dinner at the White House. The probability that Cynical Investor is right is very high and the negative implications that Singapore is no longer in the good books of China could be a forgone conclusion or at least not a major part in the maritime Silk Road plan. By the way the South China Morning Post even said that China left out Hsien Loong deliberately, so no more guessing.

Malaysia appears to be the main actor in China’s B&R project and quietly accepting its role without any gloating. The amount of investments pouring into Malaysia in infrastructure development says it all.

The non invite is not so important than not being part of the big scheme of things. This does not bode well for Singapore’s ambition to be the regional transportation hub in the future. What would happen if Malaysia were to replace Singapore as the regional hub? What would happen to Tuas’ big expansion plan as the biggest container port in the region when no container ship is arriving?
What do you think?

PS. On second thought, there is really nothing to worry about. Even if Singapore is being left out, with our super talents in charge, Singapore would definitely find a better way out, maybe create its own Singapore Silk Road.  China forgot that Singapore was the master and China the student.

And there is the great USA to rely on. Then there is always the next big thing in Asia, India, the next growth story. Singapore has the first mover advantage and would definitely do very well clinging onto the Indian growth engine. Quick, quick upgrade the CECA so that all the Singaporean firms and Singaporeans can fly to India to work and to do business. But make sure they recognize our degrees and diplomas first.

USA unleashing the devil

For its own strategic interest to remain as the top dog in the world of hegemony and empire, the Americans have unwittingly and willingly unleashed the biggest devil of the past and allowing the devil to rearm to the teeth to do damage once more to civilisation and to the Americans one day. China is seen as the number one enemy of the Americans not that China is going to start a war with the Americans, but by virtue of its size, its population, the energy release from an industrious and educated population, organised as a nation, to be able to surpass the Americans in all fields. The rate the Chinese people are climbing the industrial, scientific and technological ladder, at a blinding speed that it is only a matter of days before China would be number one in everything. This is an undeniable and unstoppable fact, without having to go to war. It is just a natural historical development of human civilisation. And this is seen by the Americans as a threat to their world dominance and must be stopped at all costs.

 

The fear of being number two to China is driving the Americans bonkers. They are doing everything they could, dropping their defensive instinct to protect themselves, by allowing the Japanese to rearm to it former military strength to create another diversion, another area of concern for China. How far would the Americans go to cut the leash on Japan to become another mighty military machine? Have the Americans forgotten what Japan did to the rest of Asia and SE Asia? Have the Americans forgotten Pearl Harbour? Maybe, maybe the Americans think this is history. The Japanese of today, in their businessmen suits, are very nice and respectable gentlemen, very polite people, unlike their barbaric parents. The DNAs have changed.

 

Have the Americans forgotten about the two atomic bombs in Hiroshima and Nagasaki and the carpet bombing of Tokyo and other Japanese cities? Perhaps, when the Americans are not the victims, they could and would forget. Would the Americans forget 911? Never, because the Americans were attacked and were the victims. This same pattern of thoughts would apply to the Japanese. Would the Japanese forget Pearl Harbour? Never, because that was the biggest military victory of the Japanese against the Americans. Nevermind if it was a sneak attack without warning, without declaration of war. The Americans got themselves to be blamed for sleeping on the job.

 

Would the Japanese forget the bombing of Japan and the two atomic bombs in Hiroshima and Nagasaki? Never. They are holding annual rituals to remember the days when Japan were obliterated by the Americans. They are also remembering their murderous soldiers in the Yasukuni Shrine. They are very proud of these soldiers for their conquest of Asia and their sneak attacks against the Americans.But they would forget their atrocities across Asia and South East Asia.

 

What would these memories mean to the Americans and the Japanese? One day, the debt must be settled. The Americans must pay for the bombing of Tokyo, for dropping two atomic bombs on Hiroshima and Nagasaki, for keeping Japan as a semi colony of the American Empire until today. Yes, the Japanese are still bowing politely to the American warlords. But did the Americans see the glint and hatred in their eyes when their heads are bent, starring at their feet?

 

The Americans and the Japanese have a long history of aggression, rivalry and hate. Pearl Harbour could have its origin when Commodore Perry opened up Japan by force. It could also originate from the American's effort to deny access to natural resources from Japan.

 

The history and relationship between China and the USA were less acrimonious. There was no invasion and war between the two countries. The only war they fought was on opposite sides in the Korean War. And during the WW2, China was on the side of the Americans, and many Americans fought with the Chinese against the Imperialist Japan. The souring of relationship was political, the Cold War and anti Communism. Such wounds are easily healed as they did not drive too deeply into the psyche of the two people. China would not be harbouring vengeful thoughts of retaliating against an American nuclear bombing of Chinese cities. There were none to talk about. Though there were many occasions when the Americans were flirting with the idea of a preemptive nuclear strike against Chinese nuclear bases in Lop Nor, these did not happen.

 

China and the USA were political enemies but no unforgiveable and unbearable acts of aggression between the two countries. Now the Americans are choosing to unleash the devil in Japan in their military strategy for world dominance against China. Is this a wise thing to do? Would the Japanese turn against the Americans one day when the Americans were fighting China and deal another more horrendous attack than Pearl Harbour? The Japanese have all the reasons to do so, for their national pride and their militaristic ambition to be another super power.

 

What Harry Harris had done, by jumping at the slightest opportunity to want to start a war with China in the South China Sea and in the Korean Peninsula are signs of what he and the Japanese have in the back of their minds. The only way for Japan to be the top super power once again is for the destruction of the USA, China and Russia. If Japan could get these three countries to destroy each other, Japan would be number one again by default.

 

While the Americans are obsessed with the rise of China, let they not forget the bigger devil lurking behind, in bed with them. Harry Harris is a dangerous man. But the more dangerous one is Abe. Would the Americans really want to unleash this devil that has an axe to grind against the Americans? Who is the real enemy against the Americans, China or Japan? By virtue of the relative size, America will be number two to China in a matter to time, no need for war. It is a natural process of human civilisation. For Japan to be number one, it has to see to the destruction of China, Russia and the USA. How could Japan achieve this goal? Are the Americans aiding the Japanese to this end game?

Petition to the Govt on the Elected President Election

Here is the link to the petition. https://www.change.org/p/in-support-of-an-open-singapore-presidential-election-2017
Lim Tean, Secretary General of NSP, Tan Kin Lian, Goh Meng Seng and Syafarin Sarif have started this petition to the Govt stating that the next EP election should be in 2023 and not in 2017.  The issue is how the 5 terms were counted, the govt starts counting from Wee Kim Wee but the petition and Tan Cheng Bock’s constitutional challenge disagrees with this, that it should start counting from Ong Teng Cheong as the first Elected President.
500 people have signed the petition and still counting meaning they don’t agree with the govt’s methodology or tracing it further back, they don’t agree with the AG office’s recommendation.

A convincing initiative for regional connectivity and global trade

By Chua Chin Leng | chinadaily.com.cn | Updated: 2017-05-15 14:50

China's One Belt One Road Initiative was conceived in 2013 in its entirety by the strategists and planners in China under the leadership of President Xi Jinping. This extensive infrastructure network of land, rail and sea covers more than 100 countries and an unending budget that cumulatively could be in the region of US$40 trillion to US$80 trillion when in maturation.

In a short span of three years from conception to what it is today, this initiative, now popularly known as B&R, is a new reality that has taken off and gone beyond the imagination of many modern day planners. Sixty-five countries from China through Central Asia to Europe by land and a sea route covering South East and South Asia through the Middle East, linking Africa to Europe to form the southern belt, present a problem that would challenge the wits and wisdom of the ablest politicians and statesmen just to be able to sew the countries into a complete tapestry.

The countries involved in B&R are as diverse in culture, race, religion, political ideology, political rivalry and historical enmity that the thought of convincing them to agree, to be part of the project, must be a nightmare to the ablest in diplomacy. And China has pulled it through, to successfully bring aboard these mixed bags of countries, is not just shrewd diplomacy but also by hard economics of what each country would stand to benefit from it. To be able to win the confidence of the leaders of these countries, that everyone stands to benefit from a win-win partnership, is itself a great achievement for China and Xi Jinping's team of negotiators. The task is more daunting if one is preview to the doomsayers and negative commentaries and mischievous doubts posed by those countries that did not want this project to succeed, let alone to take off in such a short time.

Every single country that voluntarily participates in this international initiative must have convinced themselves and been able to see for themselves the goodness of the project from their own perspective and understanding and interests, not from what the Chinese told them. With all the differences and negative external influence and forces working against this project, some appearing unbridgeable due to historical enmity and political divisiveness, no one, not even Xi Jinping and his team, is able to win them over unless they themselves are willing to come on board.

The B&R is therefore an initiative that all participating members are convinced, must be convinced, that it is beneficial to them in the long run, in trade, communication, economic and political development. The benefits of B&R speak for themselves and are the most important factors in winning the hearts and minds of the participating nations.

For the coastal states or states that have easy access to seaports, the One Belt aspect of the B&R initiative would only enhance and improve their positions in a more interconnected world. B&R is particularly important to the landlocked countries in Central Asia and Eastern Europe, central Russia and the western regions of China. These countries and regions have been disadvantaged by their inability to access the sea trade routes and have lagged behind for centuries in economic development. B&R has transformed the traditional reliance on the sea for transportation and opened up these countries to trade freely using land routes, by rail and by roads, freeing themselves from having to depend on seaports. These countries would now be in the mainstream of international trade, in the main highways of trade, communication and transportation, turning themselves into new centers of economic growth and development. Many of the cities in these landlocked countries would become new rich economic centers, finding their rightful place as the equals of New York, London, Rotterdam, Paris, Hong Kong and Shanghai in the 21st Century.

There will be realignment of trade routes and transportation hubs as a result of B&R, and many cities would reinvent themselves and transform into new vibrant commercial centers of trade and economic activities. Khazakstan, Malaysia and Greece would become new communication hubs of a new future and the biggest beneficiaries of B&R.

The B&R initiative is a new catalyst, a bright spark that would bring about more global trade and economic development in an otherwise staid and slumbering world economy. Thousands of bilateral and multilateral projects have taken off and many more are in the pipeline. Hundreds of bilateral and multilateral agreements between governments have been signed. B&R is not a China initiative but an international cross-border project that needs the cooperation and active participation of all the countries to be successful.

B&R is what the world needs today. The flow of capital, goods, people and so forth would be a boost to economic activities and vibrancy, to open up new regions of growth, to bring about prosperity and interconnectivity to all the countries in the project and to benefit the world in general. The success of the B&R is not just for China but for all the participating countries and the whole world.