Re: Suggested career path for Madam Ho Ching

MAY WE offer our commiseration on the news that your wife, Madam Ho Ching, will be joining the ranks of the unemployed this October. Indeed the increase in the numbers of the unemployed in Singapore is lamentable, especially from the financial and investment sectors.

We note that there has been immediate talk about her joining politics, with an accelerated path to a ministerial position. Word has it that her immense talent and competence has to be put to good use for the sake of Singapore, and where better than in government?

However, there are risks with this future career path, and we hope to draw your attention to them. To be a minister, one has first to contest in parliamentary elections. She will become a lightning rod for protest votes. Many Singaporeans will cast a vote against her simply because she is a member of your family. It’s their way of registering unhappiness and forcing an embarrassment on you and the People’s Action Party, without triggering the (unthinkable) fall of a government that has become so essential to our nation’s survival. The risk of this kind of irrational, freaky voter behaviour is perhaps too great to recommend this course of action.

In addition, her joining the cabinet raises exactly the same tricky question that was raised when she first took up the CEO position at Temasek Holdings. It is very awkward that a wife should report directly to her husband. At Temasek, the problem was solved by interposing Mr Dhanabalan and the Board of Directors between her and yourself, the then Minister of Finance, but in the cabinet, this neat
solution will not be available.

May we therefore suggest a far superior idea for Madam Ho’s career path: She should be the next President of Singapore. The next Presidential elections are due in August 2011. By then, Mr Nathan will be 87 years old and can be persuaded not to stand for reelection. It would be timely for Madam Ho to step in as a candidate.

With her as President, future requests by the government for unlocking the reserves will not take the inordinately long time of two weeks to get presidential approval. It can be sorted out with just a bedroom chat.

Her nomination would also quash complaints by members of parliament about non-transparency over President Nathan’s approval of the government’s decision to unlock the reserves. Madam Ho, after all, has a stellar record of transparency and accountability, having initiated the public release of Temasek Holding’s Annual Report. Her reputation in this area is unblemished.

What about voter unhappiness and protest votes? Fortunately, the Presidential Elections Committee vets candidates standing for
presidential elections. Going by the example of the last two presidential elections in 1999 and 2005, which were walkovers,
potential opponents can be disqualified by this Committee.

By upholding the same rigorous standards of prequalification in election after election, she may well remain president for another 30
years.

This in turn offers Singapore a huge benefit. In the unlikely event that there is ever a freak general election result and an opposition party is entitled to form a future government, Madam Ho as President can act as a conscientious advisor to ensure that the new government performs as expected. If not, you will of course recall how awkward the late President Ong made life for your predecessor.

Your Finance Minister noted in Parliament this past week that “This is a system that relies on trust in the individuals who are in charge”. As a member of the family, you can certainly trust her more than you can trust any civil servant or retired PAP politician whom you may nominate to be head of state.

For your consideration,

Yours sincerely,

Alex Au and Choo Zheng Xi


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178 Responses to “Memo to the Prime Minister”

  1. Singaporean 10 February 2009

    I thought I saw Dhana on TV saying that HC was appointed purely because of the talent that he spotted in her? So Dhana should be the one answerable as HC has tried her best. I feel that HC has the interests of Singaporeans at heart, and that is what is important to me. For example, she proactively rein in the reits managers in the early stages of the formation of the reits industry. I feel that as Singaporeans, we should not be so harsh on a fellow Singaporean just because she is related to the Lee family. HC as a person has not done anything against Singapore’s interest. Even if her investment talent is not great, the one who should be answerable should be the one who appointed her, and still saying that he is right for doing so since he spotted her talent in this area. We should not criticise a fellow Singaporean to this extent until she gives up on Singaporeans. That would be our loss.

    Reply
  2. Ya great article i must say from TOC again.

    Gd job by both Choo and Alex.

    Reply
  3. Dear Mr Tan {#23) Tan Kin Lian on February 9th, 2009 8.29 am}

    There is NOTHING positive to look at or forward to and neither is it constructive to be in denial or failing to face the reality and the facts, as I’d further elaborate further down.

    From what I read, there is no mention of her taking responsibility for the significant losses.

    Whatever the nationality of the replacement CEO at Temasek matters not so long as the investment achieve good returns.

    As 81) Muniandydesai on February 9th, 2009 7.50 pm has posted there were many signs of big problems ahead in 2007 BEFORE Temasek bought into Merrill to the extent of US$5 billion which was subsequently increased to US5.9 billion in total.

    Even GIC’s deputy Chairman Dr Tony Tan had said, and this was repeated by Fin Minister Tharman in Parliament last month, that GIC had raised 7% cash in the 3rd quarter of 07 because GIC was then of the view that the market would fall and continued to believe so going into 08.

    Just google for the name of New York University Professor Nouriel Roubini and you might be more enlightened.

    Even Warren Buffett had said on an American TV show around Christmas of 07 that he did not want to invest in any of the US financial firms although he had been approached.

    In so far as Temasek’S (& GIC’s) buying of UBS, Merrill & Citi (& whatever other shares/assets) were concerned, it is NOT a question of “HINDSIGHT”

    With Merrill Lynch 08 losses of around US$43 BILLION, its shareholders’ capital has been wiped out and it is BANKRUPT……..ML’s former CEO knew then that if ML was not taken over by Bank of America (or some other financial co.) it would have gone the way of Lehman Brothers. Essentially, Temasek would have lost ALL its investment (gamble?, as someone used the term) in ML. How is that outcome to be viewed as “positive”?

    Even then ML and the enlarged Bank of America had to seek US govt bailout.

    Today’s Business Times mentioned that Temasek bought at 720 pence whereas Barclays share price dropped to 47 pence – a drop of 93.5%.

    As others had mentioned in the blogsphere over the years, even before the latest investments in Barclays and ML etc, she should not have been appointed as Temasek’s CEO.

    Reply
  4. Singaporean 10 February 2009

    BlackFeline,
    After you. And don’t drag others in just because you are one BlackBeast.

    Reply
  5. frankly, I think the lee family is starting to paint their family lee in the shit pit down the history. We are know how they will be fared down the road of the memory lane. Hope their next generation can live with their heads up.

    For start, the disgusting pay that come from the blood and sweat of the country would sure give them some comfort to begin with.

    Reply
  6. Tan Kin Lian 10 February 2009

    An American friend told me that when President Obama apologized for messing up the appointment of 2 department secretaries (i.e. ministers) due to tax reasons, he got a lot of sympathy from the public,

    In Singapore, when someone is down, many people come in to bash him or her up. This seems to be the characteristic of Singaporeans.

    Let us reflect on this statement.

    Reply
  7. Stand up for Sinagpore. Stand Up for President Ho Ching.
    Do the best you can.
    Stand up For Sinagpore.
    We know you wll do your best.
    As the President you will have the nations key to billions!

    Spend like you used to do when you were CEO,
    Stand up for singapore .,
    Stand up for President HO ching
    Lets all stand up for our nations best and finest.

    {sung to the tune of stand up for singapore]

    Reply
  8. Dear Tan Kin Lian,

    At least, Obama and his team are pragmatic and humble enough to admit their mistakes and the public understands.

    Singaporeans can also be the same – pragmatic and sympathic too. But it is the government who is not. -arrogant and never admit mistakes nor take responsibility for wrongdoings. Instead, they bash up any opposition without mercy and bankrupt them to the point of humiliation.

    This is a government that we have. In the political circle, we have picked up that you were once running their league too and aspired to be in the PAP team. That was when you were NTUC chief. But now that you are ‘out of favour’ , your eyes began to open and rightfully and finally you are on the ‘right track’ to fight for the rights of Singaporeans.

    You see, all those up there in the ivory tower are just turning a blind eye to the sufferings of the peasants (or ‘less mortals’) at the ground level. The ministers just throw some financial ‘crumbs’ and tell poor Singaporeans to take care of themselves and cover their own asses.

    Just imagine the amount of money lost. It could have helped so many Singaporeans to get on their feet again if the money was used for Singaporeans. Then Singapore will be a better place. Instead, the govt used TH to splurge on loss-making institutions and worse, Singaporeans are made to pay for their mistakes.

    Most Singaporeans can see that once the Emperor kicks the bucket, the amount of worms that are going to crawl out of the government cans will be too much for Singaporeans to bear.

    Reply
  9. Given her ‘status’, who will dare to contradict her?!

    I had worked in the civil service and the culture of subservience to authority and covering your backside is legendary.

    Moreover, all those above her owed their positions to her father in law. Now, if your are Dhanlabalan, would u say no to her silly decisions and get slapped again?!

    If we need to find the real culprit for the lost billions, look no further than LKY.

    Why such a huge emphasis on financials? because the senile one thought he knew the market better as he was appointed consultant to some silly bank.

    He didn’t know he was take a ride of his life time. He was still yaya-ing about the golden period when dominoes were already falling in the west.

    Yep .. that about sums up my feelings over this whole HO JINX debacle.

    Reply
  10. Mr Tan,

    I respect your opinions usually. This one, got to disagree.

    None of them higher mortals had uttered a sincere SORRY.

    The one given by Wong Kan Seng was a half baked apology.

    Even a stupid chef-aspiring civil servant had no balls to issue an apology to the hurt public, the people he serves.

    I would say I have been very self regulated, thus far.

    When I am 70, I may not have the resolve to remain civil when some young cocky half cooked scholar try to give me brutal truths which they had no opportunity to experience before.

    Reply
  11. #107 – Mr Tan, your analogy is only relevant when our politicians and establishment people APOLOGISE when they step down.

    Reply
  12. Well said DD #112., SK Chan #111

    You beat me to posting.

    As to name calling, etc waz wrong with this WHEN those who make mistakes refuse to admit their mistakes or even that they got assumptions wrong. A little humility on their part, will result in less name calling. Because the name-calling has a lot to do with the anger of the people at the lack of humility.

    wkc #84. That was tiny investment — cut a little slack. And remember that analysts often get things wrong.
    http://www.nytimes.com/2009/02/09/business/09analyst.html?em

    Reply
  13. LocalTalent 10 February 2009

    Tan Kin Lian, you are still much more level-headed, rational and mature in your outlook and thinking, which shows you are of a different calibre. So, why waste your time talking to those shallow-minded and narrow-perspective individuals who only know how to let go stinking 马后炮 here?

    Remember, empty vessels makes the most noise, and loser only know how to whin when they do not how to win!!

    I’m out of TOC, good riddens!

    Reply
  14. bye then local talent! you just don’t understand, do you?

    Reply
  15. Good riddence to LocalTalent then.

    Reply
  16. tiredsingaporean 10 February 2009

    109) Aki on February 10th, 2009 5.57 am
    Yes Aki, I too foresee the same thing as you’ve just mentioned. Singaporeans will more shocking to see more dirty thing surfacing when the old man dies. Not even his blue eye boy can cover up anymore of what’s been done internally among them.

    Reply
  17. #107:

    Mr Tan,

    I would have to disagree with your assessment of Singaporeans. Actually, one MP did give a sincere apology once, and that was Ms Lee Bee Wah, over the STTA incident. I for one was touched by her gesture and think that many angry Singaporeans were as well. Most importantly though, the apology was backed up with constructive actions to remedy the mistake. The country was able to move on after that.

    Sadly, that was the only time PAP ever gave full accountability to the people who elected them. Having paid themselves astronomical CEO pays, they seem to have also forgotten that they are not, in fact, CEOs. The key difference between a CEO and a Prime Minister is that the former is appointed by the board to manage the company for profit, while the latter is elected to represent the collective interests of the citizens of the country. The former is answerable only to the board and shareholders, while the latter is answerable to everyone. It is this sense of accountability from the government that has been lacking, hence the feeling that ministers are arrogant and out of touch.

    Singapore is a democracy. I think my vote still counts, so I shall be casting it for a government that actually wants to represent the people’s interests, not squeeze them for profit. I get enough of that from my boss already, and do not need that from my government too.

    Sincerely.

    Reply
  18. Reflected on TKL's Statements. 10 February 2009

    ” 108) Tan Kin Lian on February 10th, 2009 4.24 am

    An American friend told me that when President Obama apologized for messing up the appointment of 2 department secretaries (i.e. ministers) due to tax reasons, he got a lot of sympathy from the public,

    In Singapore, when someone is down, many people come in to bash him or her up. This seems to be the characteristic of Singaporeans.

    Let us reflect on this statement.”

    “This seems to be the characteristic of Singaporeans.”
    Are you not a Singaporean, Mr Tan Kin Lian?

    And why are you comparing Obama within this particular article about Ho Ching?
    Obama did gracefully apologised by saying,
    “I screwed up and I take full responsiblity for that.”

    Did Ho Ching or anybody else responsible for the “SCREW UP” of Temasek’s Investments, squandering away taxpayers’ money, ever apologised as what Obama has done?

    Come on, we know you were a PAP member for a very long time and therefore is unable to get out of that mould of one-up-manship. So the way you are twisting the argument to your favour is quite expected. But that doesn’t mean that we have to accept or agree with you.

    Don’t compare a sweet apple with a sour orange.
    And
    Don’t use a broom to sweep every Singaporeans, which also include you.

    Let us (i.e. Tan Kin Lian & Co.) reflect on these two statements.

    Reply
  19. #119) Panache on February 10th, 2009 10.44 am

    To me her apology was not forthcoming enough and she had to do it in the company of a minister. It made her appear as if she was being forced to eat the humble pie. Also in Singapore and you would never get a top elite making an apology that sounds sincere to the people. They have to be forced into a corner before even making a hollow one. The Mas Selamat issue was a clear cut example.

    Her early statements in the saga also reflected her lack of sensitivity and human touch in handling people. If this is the type of person our elites have produced through their tea sessions, then I dread for the future of our country. Such a person to me does not even deserve to be nominated on the ballot box, let alone get the people’s vote.

    Reply
  20. Success & Failures 10 February 2009

    There are self-righteous people who like to always talk and criticise for the sake of doing so, just to show that they know (or they think they know more and better than others, and feel they are always right)…and we see many of these people never achieve anything in their pathetic life, though they continue to blah blah blah away till the day they die!

    There are people who work on making things happen because they believe in it, and make every attempts to at least try things out first and then talk later about their success and failures…and many of these people achieved many milestone in their life and are recognised at least for the efforts they’ve made.

    Compare Ho Ching and many of the posters here, who is who??

    Reply
  21. #123) Success & Failures on February 10th, 2009 12.44 pm

    “There are self-righteous people who like to always talk and criticise for the sake of doing so, just to show that they know (or they think they know more and better than others, and feel they are always right)…”

    I think this statement of yours fits the description of our dear elites perfectly. Talking down to the peasants through our ball carrying MSM is definitely what they always excel in.

    Reply
  22. Poor Retiree 10 February 2009

    Some of the posters here are getting too personal. Even if you don’t like Miss Ho and her family or even Mr. TKL, there is no need for anyone to be rude. Some statements made here are down right rude, uncalled for and totally unnecessary.

    Reply
  23. Rich Retiree 10 February 2009

    #125 (Poor Retiree)

    Pl give examples. Look OK to me.

    Or pls go find another website: PAP maybe?

    Reply
  24. Time is the best judge to any problem.

    We will know in time,whether it takes 20 years,50 years or even a hundred years(heavens forbid as i will be dead then), whether the Lee dynasty is the only exception to the ruined dynasties in history.

    I say, let them do their work,while we continue with our lives.

    No point getting upset with someone refusing to relinquishing his power.You will only make yourself bitter and ill.

    “Man proposes,Heaven disposes” No one,not even the Lees can go against nature’s law.

    I have yet to see any institution,even the best in history that fails to crumble when it has breathe its last.

    Reply
  25. Be Clear Headed. 10 February 2009

    Who is being rude?

    The one who tries to attribute a certain bad characteristic upon each and every Singaporean just because of a few bad eggs,

    Or the ones who are trying to refute his aspersion.

    Reply
  26. Breaking news: NZ MPs ask for a freeze in pay.

    That’s accountability. If NZ with a population similar to us can do that,so should we.

    Reply
  27. Average Retiree. 10 February 2009

    # 125) Poor Retiree on February 10th, 2009 1.22 pm
    quote:
    Some of the posters here are getting too personal. Even if you don’t like Miss Ho and her family or even Mr. TKL, there is no need for anyone to be rude. Some statements made here are down right rude, uncalled for and totally unnecessary.
    unquote.

    I think you are the one who is being down right rude for making general sweeping statements without anything to substantiate.

    Reply
  28. After all is said and done, you’ve got to admit the lady has balls. She went where others would have feared to tread. If not for the worsening financial meltdown, Temasek could have made money — and everybody would be singing her praises.
    Constructively, I think she should take over the media — MediaCorp or SPH. Perhaps better MedaCorp (that’s not a listed company) than SPH. With her balls, who knows, we could have a better media, and may not have to rely on just TOC and other blogs to help us think.

    Reply
  29. #131

    This is not a rude comment but a serious comment:

    Whichever company Ms Ho joins as CEO next, if I own shares in that company, I will sell them because I will lose faith in the management.

    If the government really has faith in her, try appointing her as CEO of SIA and see how many substantial shareholders will dump their shares.

    Am I heartless? No. This is exactly what happens to CEOs who screw up, all over the world. It is called ACCOUNTABILITY.

    Reply
  30. neversaydie 10 February 2009

    Where is the stop loss limit?

    Losing such a high percentage serially over 1 year is a sure sign that the hand is not right.

    Besides, being so big, every move they make moves the market, are they sure they know what they are doing? look at the norway pension fund, they only put max 5% in a company.

    That’s what one would call good execution.

    Reply
  31. Uneducated Singaporean 10 February 2009

    I am uneducated but I think I can count on my common sense.
    My friend told me that this ‘Chips’ guy was skiing when BHP gave him the post of their CEO. Whoa!! High flyer. Must be smart and expensive. Not sure how smart but quite sure damn expensive.

    During this downturn, if we can save money on high salaries we should, right? My question is this: BHP must also looking for super talent. Why didn’t they offer Ho Ching the post? Afterall, she’s some super person as mentioned by Goh Chok Tong. Seriously, there is a acute shortage of talents worldwide. I don’t understand. Either BHP is stupid or maybe they are smarter. I’m blur.

    How about some reverse engineering. We need top talents, right? Perhaps we can get someone equally as good as Ho Ching. Maybe, we can. How about tracing the roots of her career path and we should be able to locate the tree. The fruit seldom falls far from the tree right? Ahhh! SAF
    She was SAF officer! From SAF to Temasek CEO. Wow! What a find!! Goldmine!

    Can we find any Generals to take over perhaps. They come cheaper than ‘Chip” right? No? Can’t find any?? Why? They are no good enough? Only one Ho Ching? Cannot be!! You sure? Hmmmmm

    Then what is the basis of Ho Ching’s appointment? Tell me,please.

    You don’t send a storeman to disarm a bomb, do you? Just because he can count the number of bombs in your store and get it right most of the time, doesn’t qualify him/her to disarm any bombs. And if you insist, you will get a major disaster, won’t you? Did this happen in Temasek? Did it? Your guess is as good as mine.

    You know, I have heard GCT say ” More good years” many times. I hope Ho Ching doesn’t translate to mean that Temasek must get a goodyear and then bring along his whole family so that we can have more goodyears. Afteralll, if you tell a storeman to disarm a bomb you might have him/her pick up the bomb put it in a box and if he/her survives, send it back to the store.

    I am just curious to know what Ho Ching was doing when they decided that she was going to be made CEO. Can’t be skiing, that’s taken by ‘Chip’. Shopping??
    Very likely. Buy companies like I buy tofu. Shin Corp, Merrill, Barclays ans much more.

    Can anyone enlighted me?

    Uneducated Singaporean.

    Reply
  32. After all is said and done, you’ve got to admit the lady has balls. She went where others would have feared to tread. If not for the worsening financial meltdown, Temasek could have made money — and everybody would be singing her praises.”

    this statement makes me laugh. when there is a cave and everyone knows that there is a tiger in there, and she went into it, will you call her brave or foolish? after all, she went where others would have feared to thread.

    if not for the worsening meltdown? please. many people already saw an impending meltdown. its not a matter of possibility. its a matter of WHEN. singing her praises? since when? micropolis?

    Reply
  33. Poor Retiree 10 February 2009

    Rich Retiree – Please take a look at #100. Is there a need to make such a statement ?. There is no need to curse anyone here. We are here to contribute constructive and objective views. Regardless of whether it is an opposition blog or a PAP supporters blog, it is not right to curse people. Don’t you agree ?

    Reply
  34. Rich Retiree 10 February 2009

    #136, One posting results in yr sweeping statement.?

    And #100 could be construed as a simple statement of fact, or opinion Why must it be construed as a curse?

    Reply
  35. Poor Retiree 10 February 2009

    Average Retiree. – Please take a look at #100. In your honest opinion/view is it right to curse people like this ?.
    We are here to make constructive and objective views and alternatives. No need to insult me as down right rude. I am not the type of person. If you think I am rude so be it. No big deal to me. Live and let live.

    Reply
  36. Tan Kin Lian 10 February 2009

    Hi #120

    Yes. I am a Singaporean. I hope to be able to get Singaporeans to be more generous and positive in our views.

    Reply
  37. In the Final Analysis 10 February 2009

    Its not them.
    Its the people.

    Reply
  38. I cannot see the value addedness of the sarcism in this article for the development of our nation, politically or otherwise.

    Reply
  39. To Alex on February 10th, 2009 7.27 pm 10 February 2009

    I also cannot see the value addition of the sarcasm in your one liner for the developement of our understanding, personally or otherwise.

    Reply
  40. guys, get off your moral high horses or you will fall off.

    you think the ministers care whether you curse them or not? karma? please. i will gladly take curses for the obscene sums they are being paid, and the jobs that they failed to do.

    “I cannot see the value addedness of the sarcism in this article for the development of our nation, politically or otherwise.

    life isn’t all about value-addedness. do you see any value-addedness when you make jokes? does that mean that all jokes should never be made since they do not add value?

    yawn.

    Reply
  41. If we weigh ungracious online comments vs shameless acts of greed, where will the balance tip?

    It will truly be ungracious someone to make derogatory remarks towards Wee Kim Wee, Chiam See Tong, David Marshall or Benjamin Sheares.

    If it is towards someone of lesser respectability, I may disagree, but I’ll be gracious enough to understand where they are coming from.

    We cannot love to hate, but no one can stop us to hate to love.

    Reply
  42. 24) We have to recognise that Ho Ching is taking responsibility for the bad moves by stepping down.

    It would have been a massive PR coup for the government and an opportunity to tell the public that there is CHANGE (Obama-inspired) in the mindset of the power of the day IF the stepping-down is put to the people as a RESIGNATION to take responsibility and accountability for the performance of the Fund, even though it is not entirely the direct fault of the decision-maker.

    As rightly, in my opinion, pointed out by Tan Lim Lian, the decision at the time was a logical one because if the economy were to recover, the PROBABILITY is that the banking system must also recover – being the foundation of the economic system.

    Reply
  43. With HC stepping down as of Oct 1, that’s a transition period of nearly 8 months. Does it really take 10 months to handover to an ex-Investment Banker? Especially when the executives in the key positions reporting to the CEO is still in place…. This smells like a severance package in disguise.

    Reply
  44. bedroom secrets 11 February 2009

    good point about HC hanging around until 1st oct.

    perhaps,
    Chip Goodyear wants HC to go thru’ the books with him
    and get an idea what is left…….check out all the bets HC has made….
    and we are talking mind-boggling sums of money.

    it is clever PR for HC to hang around and give a public impression
    that it is just an ongoing process for the change of leadership……

    it is a desperate hope that things can turn around by 1st oct …..
    then HC can reclaim the CEO post and tell all of us off……also not forgetting
    that Dhana the BJ artiste will claim he had picked the right person all along.

    however should things unfold less favourably, we already know what has been
    said by the father-in-law…..the bets are for the long term….12 to 30 years…..
    …..and the oldfart will be keeping track of things from his grave.

    Reply
  45. ” 108) Tan Kin Lian on February 10th, 2009 4.24 am

    An American friend told me that when President Obama apologized for messing up the appointment of 2 department secretaries (i.e. ministers) due to tax reasons, he got a lot of sympathy from the public,

    In Singapore, when someone is down, many people come in to bash him or her up. This seems to be the characteristic of Singaporeans.

    Let us reflect on this statement.”

    UNFORTUNATELY, you did not indicate to whom your #108 was in response to, but I believe it was in response to my #105.

    If that is so, then I feel disappointed, as I was only stating the FACTS, which unfortunately have been absent in all of your posts on this topic even though I recall reading in one of your posts not so long ago that you encourage people posting to check their facts by googling.

    You keep using the word “POSITIVE” without justifying the basis or how one could be “POSITIVE” in the face of MASSIVE LOSSES and that the investments in Merrill (& Citi by GIC) amongst others would have vapourised without US & other govt bailout eg Swiss govt bailout of UBS.

    Aren’t you concern about the LOSSES of tens of BILLIONS of our reserves as a result of what were POOR investment decisions by Temasek & GIC.

    As posted by:

    120) Reflected on TKL’s Statements. on February 10th, 2009 11.29 am

    “Don’t compare a sweet apple with a sour orange.”

    Strange that you could bring in the eg of Obama who has yet to show himself to be CONDESCENDING, COCKY, CONCEITED, CALLOUS and whatever other adjectives one could use, unlike you know who.

    Reply
  46. anonymous 11 February 2009

    I think the best proof of her true market worth is for Ho Ching to go into the private sector, especially one that is outside the privy of the Singapore government.

    If she can command the same kind of salary as she got in the public sector, then this is the best evidence that she was indeed picked for the Temasek CEO job strictly on her own merits, and not through her personal connections.

    Reply
  47. #35
    Absolutely agree with your observation.
    UOB manage by Locals; not world-class.
    UOB no retrenchment; not current world-standard.

    Reply
  48. Temasek Holdings(TH) loss $58 Billions in 6 months (from 31 March 2008 to 30 Nov 2008). Losing about $10 Billions a month. Chances are TH will lose the same amount for Dec 08 and Jan 09. As Merrill Lynch is public listed and there is transparency in the amount of bonus paid to their employees. I wonder if we will ever know the amount of bonuses being paid to the Temasek employees for doing such a lousy job.

    Transparency is what we need!

    Reply
  49. kakakuli 12 February 2009

    To TAN KIN LIAN

    as we know you have the ambition to be our next president. i was supportive of you until you said what you said here. what you said, means whoever incharge of loosing the $58 bil has done nothing wrong. think again what you said, mr president-wannabe.

    you see when ho ching stepped into temasek, she altered the mindset of the organization by going into high-risk speculations. only she could do that, because she has the “mian shi ching pai”(immunity shield). you can see when she was awarded by the american businessmen the honour of a great investor, they said she was IMAGINATIVE!

    sure! but can she imagine how deep a HOle she would get us into with her imaginations?

    you asked why employ an ang moh to replace?

    people will just remember when the jinx is gone, good year comes!

    you like that?

    maybe i will still support you to run for the presidency. as i do not expect somebody fitting my mold of thinking perfectly would ever exists in this world.

    if you cannot get the best, the next best is good enough.

    Reply
  50. ialsowantobeanmp 12 February 2009

    [i]you see when ho ching stepped into temasek, she altered the mindset of the organization by going into high-risk speculations. only she could do that, because she has the “mian shi ching pai”(immunity shield). you can see when she was awarded by the american businessmen the honour of a great investor, they said she was IMAGINATIVE![/i]
    if you throw easy money in MY face
    i also award you imaginative
    and the psp chest otarkueh ribbon awards honours as well
    which part of the brain is hoching dead?
    have you seen the americans give dr chee an award?
    or our ex president
    the drunken 1 his award
    for bein a foreign talent in america?

    Reply