Revolt of the Sinkie millionaires

Sinkieland can possibly boast of having the highest percentage of millionaires in the world, be it by population or by per sq foot basis. Throw a stone into the crowd in the shopping centres or the two resorts, or in Raffles Place or Shenton Way, one in two is likely to be a millionaire in net worth, counting his HDB flat and savings in CPF. The latter two will make them smile at most and nothing they could do to them as the bulk is untouchable.

There is a distinct difference between the real millionaires and the Sinkie millionaires. The real ones are full of money in their pockets, can afford several houses, cars and mistresses if they wanted. They live a life of leisure, and their wives and mistresses enjoy the lifestyle of tais tais, going for afternoon tea and chat the days away, and travelling in their big limousines.

Many of the Sinkie millionaires could never get near to this kind of lifestyle. Many will be made bankrupt on admission to hospital for a serious op or having to stay for more than 30 days. Many will end up selling their homes at old age to survive as their savings, despite one of the highest in the world, will never be enough to feed inflation. Many of these millionaires will have a hard time paying their mortgages, sending their children to schools or even owning a car. They could not even afford to pay for nursing homes for their parents and have to send them away to JB.

In other countries, a millionaire is normally someone who is pretty well off and very comfortable financially. The Sinkie millionaires are often waiting anxiously for govt handouts and subsidies to save their skins as many would be deep in debt.

The dull and daft Sinkies would still believe that they are millionaires but more and more would soon realise that they are only paper millionaires. An awakening is coming soon when the millionaires realise that they are just like any middle class or lower middle class citizens elsewhere who, very likely live a better, easier and less pressurised lifestyle than them. Many of the maids that they hired, ordered around, bullied or abused are going home to live a richer and more carefree life than them without having any inkling of being a millionaire. Even the foreign workers are going home to live in much bigger houses than the four concrete walls millionaires could afford here.

There will be no uprising of the miserables in Sinkieland. If there is going to be any, it will be a revolution of the Sinkie millionaires, the millionaires who can only feel rich with their CPF statements and imagine that they have all those money in their savings. The reality is that not only they could hardly lay hands on their illusory wealth, by the time they get to touch them, the money would probably be worthless.

They have started to gripe and kpkb about it. This is the beginning of a systemic change, a rude awakening, that a millionaire in Sinkieland is actually another average worker trying to make ends meet and nothing else. They will revolt and vote for an alternative party that can make them really richer and not slaves to an unworthy property and money that they thought were theirs but hardly. The only way to feel richer is to liquidate and leave for a cheaper country. Other than that, the illusory wealth is all tied up in the property and the CPF. A sense of well being of a millionaire but not living like one.

The best combination to exploit Sinkies in Sinkieland

One foreign family I knew;
Husband : citizen
Wife : PR
Son. : PR
Daughter: citizen

Why??? I probably do the same. Everyone will take the best out of every opportunities, and that is exactly the smart people our country wanna attract, isn't it?

This is posted by Ahmadbaba in 3 in 1 kopitiam. And many bloggers who have PR or new citizen friends are saying that this is the normal and ideal combination. Taking the best from Sinkieland and waiting to scoot. And can’t blame them as they are rightly called foreign talents not for nothing. They could easily outwit our dull super talents and their policies. Or maybe not. Our dull super talents knew exactly that this would happen but closed an eye as they deemed the benefits outweighed the loophole. Only average Sinkies will be affected.

Let’s make a plea to these foreign talents, on good faith, that if their children do not intent to serve NS, please, please don’t take up PRs or citizenship. We know that these foreign talents are honest people and will not try to game the system and make our policies look silly and disadvantaged our very own citizens.

The pot of gold at the end of the rainbow is just too tempting. FTs who bought a HDB flat could simply service the mortgage and wait for the fruit to ripen in 5 years or so, cash out by selling the flat at a big profit to some hardup Sinkies that the govt refused to sell them public flats. Then pack up and go home to be a rich man. For those who are earning a good income it will be double bonus with a good savings and a good profit from the sale of the flat.

And the stupid Sinkies would end up with the expensive resale flat bought from a happy FT turned temporary Sinkie.

Has Asean lost its way?

The Asean Regional Forum in Phnom Penh is getting rowdy with the issue of South China Sea claims as the hot topic. Four Asean states are making counter claims to Chinese islands led by the Philippines and Vietnam and backed by the US. The Philippines are acting like a big power, sitting on the head of the American beast and raring to take on China in a fight that it hallucinating that it can be a winner like Pacquiao.

The bigger picture is that the US is the master of this regional forum, telling and dictating to all the parties how to behave, what they should do and what it would want them to do. Asean is turning out to be a vehicle of the American Empire, existing only in names with the Americans calling the shot and setting the agenda and tone of discussion.

What happens Asean? What has Asean become after being a dominant regional association and international player, calling its own shot? Apparently the association has now been hijacked by the Americans, fronted by its semi colonies, to do its bid as the Empire assumes its role as the master of the region. And the news is always about what Hillary Clinton said and what she wanted.

Ten little boys went out to play and in their innocence, or thinking too highly of themselves, invited the gangsters to join them in their game. Now the gangsters are taking over the game, brought in their knives, wrote the rules and telling the little boys how to play. The little boys can only LL.

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.