Comments on: Dr Teo Ho Pin’s second letter to Straits Times

By: Kevin

Kevin — Sun, 07 Dec 2008 07:58:56 +0000

Again the key issue has not been addressed:
The concerned is ‘Investing Sinking fund’. From day 1 we know that Sinking fund cann’t be lost we have to accept that it has to be in a very safe investment so that the capital will be kept intact despite the low return. As is definited, Sinking fund is not meant for risky investment. Low yield means low risk.

Next is that the sinking fund is invested in ‘ Cedit-linked ‘ structured product. It’s exposure to credit risk means the entire capital will be wiped out. Not only risk to no return but also the loss of the entire capital. For all the loss etiher in LB Minibonds, DBS HN5, ML Jubilee 3 & MS Pinnacle 9 & 10, the 5 to 8 First-to-Default entities mean the loss of capital is magnified 5 to 8 times let alone the 100 to 150 corporate names referenced in the Synthetic CDO portfolio.

If die die must buy structured deposit/structucted product( Note that SD & SP are again different as laid down in MAS 2004 guidelines), why chose ‘Credit-linked Notes’ which both the capital & return are in such a high risk? Threre are many others to pick that are likely to have the capital intact if held to maturity such as Equity-linked & Commodity linked…; and Currency-linked which will not lose substantial capital.

Why ‘Credit-linked’ Notes and it simply could not equate the word’ Prudence’?

By: Anonymous

Anonymous — Sun, 07 Dec 2008 03:03:48 +0000

What happened to this article posted yesterday?

MP instructs TC Manager After Meeting Minister “We will not disclose any further details on TC investments”

It’s not in the list in the Main Stories archives…

By: smallvice585

smallvice585 — Sat, 06 Dec 2008 17:39:46 +0000

Singaporean_67 (#47),

I believe you meant TC instead of TOC.

By: Singaporean_67

Singaporean_67 — Sat, 06 Dec 2008 17:00:15 +0000

Of TOC should explore ways to keep residents informed of all your finances. But please tell us in short, how much has been lost so far.
TOC should be clear about their direct responsibility to the residents, and not to gamble away people’s blood and sweat money!

By: tiredsingaporean

tiredsingaporean — Sat, 06 Dec 2008 06:23:44 +0000

42) wh173rav3n on December 6th, 2008 6.16 am
They can shut down anything they like which is their usual tactic, when losing time, they can do the dirtiest things to get them back on track, this is politics, this is singapore, and the everyone knows them too well now, globally too!

By: Ahgong

Ahgong — Sat, 06 Dec 2008 06:12:22 +0000

I pity this Dr Teo, as he is one doctor who could not save his own sorry ass. I have no doubt that his political career already hatakaki. A scape goat for the MIW

By: aiyoyo

aiyoyo — Sat, 06 Dec 2008 04:11:14 +0000

aiyoyo

will there be a third letter to explain to ST huh???

aiyoyo

By: wh173rav3n

wh173rav3n — Fri, 05 Dec 2008 22:22:12 +0000

Why not TOC organise another protest at the next Speakers Corner?

By: wh173rav3n

wh173rav3n — Fri, 05 Dec 2008 22:16:37 +0000

“…to address their queries and receive feedback through various channels such as newsletters, websites and dialogues….”

So, is not TOC such a feedback channel thru websites? So why didnt our THP address the issues here? Such gobbledygook!

TOL, you’re doing a great job! Just be careful- you might be shut down, for campaigning against the govt! You know,back in the ’60s and ’70s, the PAP ran a newspaper called What Others Say. Of cos, it was a propaganda weapon for LKY to battle with the UMNO Malays in govt. It quoted Utusan Melayu, Berita Harian etc. and used the excuse to attack them. So will PAP consider TOC to be an anti-govt campaign and shut it down like Singapore Herald?

By: cfoo

cfoo — Fri, 05 Dec 2008 20:08:06 +0000

I am wondering why the opposition party are not asking questions with regards to this…

By: Blind man

Blind man — Fri, 05 Dec 2008 16:00:05 +0000

Anyone know the difference between REPORTERS and journalists?

There is a great disconnect here, where lots of right questions are being asked on the internet.

I wonder why the reporters and MP’s cant seem to ask the right questions ???

By: red_dot

red_dot — Fri, 05 Dec 2008 15:55:16 +0000

If we were to observe the rule of corporate governance I don’t see why the Chairman and the TC committee should not be holding a town house meeting and have an open dialogue with the residents. The ST Forum page, TC newsletters and websites
are just impersonal and rather cold. The TC is accountable to the residents and is a servant to the public.

By: mad

mad — Fri, 05 Dec 2008 13:39:15 +0000

all is well, there is nothing wrong, no money is lost, it’s not our mistake, let’s move on and more importantly, BE THANKFUL OK!!

By: I speak my mind

I speak my mind — Fri, 05 Dec 2008 13:36:15 +0000

world class answer! any person who is being paid $2500 a month can give this kind of answer.. haha uniquely Singapore

By: Selamat wong

Selamat wong — Fri, 05 Dec 2008 11:17:54 +0000

We should give our representative a break right?
Afterall , the people chose him to represent them right? I mean I assume he was voted in and elected officially by the people?
Correct me if I am wrong. I am really lost touch with singapore after all these years enjoying life in australia and new zealand and sometimes indonesia and the outlying islands.

By: Daniel

Daniel — Fri, 05 Dec 2008 10:07:17 +0000

Cannot blame these useless ministers because these irrelevant answer are just the complacency culture of PAP. The rampant culture of evading the question with irrelevant answer.

Mr Brown enlightened us with his newest podcast and I’m sure u see the question-evading pattern in all the clowns’ answer.

“http://www.mrbrownshow.com/2008/12/01/the-mrbrown-show-town-council-investment-bank-of-singapore/”

By: Plumber

Plumber — Fri, 05 Dec 2008 09:42:16 +0000

No point sqeezing him further as he has already said whatever he needs to say. The bad investment is a bad investment whether open eye big big or not. Its an honest mistake as no one purposely loose money. So lets move on.

By: tiredsingaporean

tiredsingaporean — Fri, 05 Dec 2008 09:05:21 +0000

This PAPees TCs must now come out clean with their books, so do not try to pang layang again, push here push there, the citizens and the public have the rights to know where you used their monies for, this is our $$$ and not yours, so don’t try to divert or turn away not answering to us, come out clean now! All these years, you cheats on us, torture us, keep increasing the fees and even throw many of the citizens into jail, now its our turn, you can run but you cannot hide cos the truth is out.

By: Wattanaporn

Wattanaporn — Fri, 05 Dec 2008 08:17:21 +0000

I noticed something different about they way he writes his letter this time round..
He did not mention asking residents to email town council..
Obviously,someone should write in to Forum and ask him that a lot of people emailed town councils to ask for answers,just like what they had answered the last time..but this time,not only did they not answer..but they try to shift the focus somewhere else..!

By: Pyter

Pyter — Fri, 05 Dec 2008 07:56:33 +0000

I am so glad that TOC has been tracking the replies by Dr Teo.
I suppose we will be provided some figures.
It will be difficult for many of us who are no accountant to be able to fully understand them.
Has TOC any capable ones to take on the task and simplify them for us.
Or are there any pro bono ones?