The following is from Times Online website:
Sir, Your article (“Singapore’s Temasek scraps plan to bring in Goodyear ”, July 22) claimed that Ms Ho Ching’s “status as both head of one of Singapore’s two sovereign wealth funds and wife of the Prime Minister symbolises for many the overly cosy nature of Singapore’s political and financial elite”.
This insinuation is totally unfounded. Ho Ching’s appointment as CEO of Temasek Holdings is not decided by the Prime Minister. It is the prerogative of the Temasek board of directors, which includes eminent local and foreign individuals, and makes its decisions purely based on merit. Furthermore, the appointment is subject to veto by the President of Singapore, acting in his discretion and not on the advice of the Government.
Michael Eng Cheng Teo
High Commissioner for the Republic of Singapore
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Ok loh – since you say so hor ….. .we just had to acquiesce and for the prata man – just a pacifier will do the job well.
BTW, Singaporeans are not bird brainers hor………..
> Are these people “truly Political LEADERS” or “mere Politicians” or “Political CLOWNS” ?
How long do they think they can continue treating S’poreans like 3-year old kids and constantly insulting the intelligence of S’poreans (the very same people who are paying for their world-infamous obscenely-humongous million-dollar salaries ???
> “Monkey Politics” in Singapore:
PAP say: Pay Peanuts, and you get Corrupt Monkeys!
S’poreans say: Pay Big Bananas, but still get Incompetent Monkeys !!!
> “Monkey Antics” of Singapore’s Political Elite:
You scratch my back, I will scratch yours.
You cover my butt, I will cover yours.
Am I right to assume that singaporeans , the majority, apathetic and non, accept the LOSSES as if it never happened or it is not an issue or it is toleratable and no need find out the details and life goes on as usual ?
Is anyone punished for the losses? I mean each and every of the losses.
so, like this till forever more living happily ever after?
can someone comfom comfom?
Temasek and all Singapore Inc. is run like Wall Street. As long as everyone from these organisations get paid millions $ salary, who care what happen to the investment.
It is ok to make mistake, just don’t cover it up!
If those who are on Temasek’s board do not know what the PM/MM wants, they would never be appointed to the board as well. There is no need for me to comments on the most expensive baby kissers at all. You know!
sure…..
8) Hee-hee
///////// Saw Prataman in his SEP1 car the other day. ///////////
Want to know where to see him regularly.
Go East Coast Park every Sunday morning beach near McD.
He excercise facing the beach, so no one sees him
His bodygaurd stands at the running path close by.
Herr..herr…. Goebbels Eng.
Er… but how come he knows who appointed who?
Is he on the BOD of Temasek?
Or he only heard someone said so?
The great ah kong of FamiLee must be very proud, so many of his descendants are high rankings imperial officers.
Hahaha, his reply just act to affirm what Times has said…
Plus who is he trying to kid, will the prez veto it?
hi notalone
“Er… but how come he knows who appointed who?
Is he on the BOD of Temasek?
Or he only heard someone said so?”
sms alert? :P
TH only share holder is the finance Ministry, an arm of the Govt headed by
the PM and he doesn’t have the power to appoint?
“the appointment is subject to veto by the President, subject to hisown discretion”
In so far his 10 years in office, can somebody tell us did this Prez ever said ‘No’
to the Govt?
The High Comm couldn’t have wrote a better comedy
people give her the face la.
I couldn’t help laughing with this moronic explanation coming from the
High Commissioner, taking people as fools
And didn’t somebody say they want some Mavericks in the Civil Service?
Folks, the correct order of his name is Michael Teo Eng Cheng. Those who know him in the airforce call him “Mike Teo”. Now that we got the name right, please carry on….
Please people understand…
Mr Eng for the obsecene amount of salary given to him…he must at least ..try or say something to make himself look relevant…even if it is foolish…
Now….my concern is..how is the international community taking all this news…..
Is Temasek going to be trusted…..there is a cost for this in investment….
it is credibility cost….how much of TSK’s future investments going to be sscrutinised….and no verbal agreement is going to be valid..even if they have the money…people are going to go for the jugular..and wonder what Goodyear is going to say in the circles.
What our High Commissioner trying to say is…
LHL did not stand in front of BOD of TH and did not say ‘I hereby DECIDE HC will be the CEO of TH’.
Ok, understand? LHL did NOT do it.
What about the PM’s appointment, did his Dad say it was not decided by him as well?
aiyoyo
so hilarious 1st thing in the morning (sorry no brush teeth yet)
but still livelihood+good economy is commoner main concern.
pls la dont INVEST outside liao la elites.
INVEST in commoners la; they pay the taxes – simple theory ma.
aiyoyo
Don’t just whine whine. Election comes must remember to vote. Vote them out I mean.
NEPOTISM AT ITS WORST.
The Singaporean masses have been pushed to the limits. They have endured enough torment. There is no place in the world that such a thing can happen, not even in North Korea. Not even in the evil Bush’s period of reign. Certainly not in China.
The question is : What do the people of Singapore do next?
At least the North Koreans and the Burmese Junta are more forthright and honest.
Who is this guy trying to fool, really?
Playing around with words in order to make it looks legitimate, yet doing it so clumsily. What an amateur of a commission by a commissioner!
aiyoyo
after breakfast talking session
think it reflects chinese saying “越描越黑”
alamak ancient chinese so smart liao.
sad story to see these folks talking in this way
aiyoyo
68) Freemind on July 29th, 2009 4.53 am What about the PM’s appointment, did his Dad say it was not decided by him as well?
I saw an Charlie Rose interview with MM; MM said that he would have made Hsien Loong PM earlier if he was not his son.
ericlee @62
“In so far his 10 years in office, can somebody tell us did this Prez ever said ‘No’
to the Govt?”
Nope, I don’t recall any instance.
Just goes to prove either the Govt is totally perfect or this Prez is totally inept.
Micheal Eng,
You right, the insinuation is unfounded. I guess anyone with an engineering degree can be task to govern billions of tax payers money.
Could the Board of directors hire me then? I have a phd in McDelivery okie!?
“HO CHING, EXECUTIVE DIRECTOR & CEO
Joined Temasek as a Director in January 2002, becoming its Executive Director in May 2002. Executive Director & CEO since January 2004. Began career with the Ministry of Defence and held various positions in the Defence Science Organisation and the Defence Materiel Organisation. President and CEO of the Singapore Technologies Group from April 1997 to December 2001. Conferred the Public Administration Medal (Silver) in 1985 and the Public Service Star in 1996. “
#66: Prettyplace — “how is the international community taking all this news…..”
You got big bucks to invest? Nobody is going to question your credentials.
The thing is: When one gambles with public funds (I suppose it is still correct to regard Temasek funds as belonging to the people), one should be clever and wise. Cannot keep on making errors of judgment.
Shouldn’t the rule — Three strikes and you are out — apply?
something very smellLEE is going on.
kudos to the smartypants, $50 Billion alot of money leh! and just lost it like that, so irresponsiblLEE!!
and can still get back her job post! — 1st class standard.
$50 Bn not peanuts leh, think…. sg got abt 4.5 million ppl.
$50bn divide by 4.5million, … waaaaaaaaa
per head at least got $10,000 SGD LEH!
$10000 SGD can do alot! summore its per head.. so per family of 4=$40000!!
—————————————————————
waaaa. cunning old woman.
Everybody, think abt it this way.
Individually, we’ve each lost $10,000 worth of $$. Heartpain…. but what to do? This type 100 slaps in the face still wont learn lesson.
Must get LHL and his senile old man, and their bunch of dawgs booted out of parliament den got change.
aiyoyo
if got 10000$, put into stocks, think can get better returns, correct?
compared to 10000$ into the air, no sound, no smell – GONE just like that.
still very puzzled about these TOP BRAINs ACTIONs leh.
aiyoyo
7th month is near, when i see people burn money i remember HC…
-.-”
“7th month is near, when i see people burn money i remember HC…”
The strange thing is why are they burning billions away when the old man isn’t dead yet to enjoy in hade ? Is it a honest mistake again ? Or is it they are participating for the future as the old man will fly kite any moment ? Maybe there is a DBS bank in Hade ? Any ghost can confirm that ?
Quote
“Temasek Holdings Pte, the Singapore state-owned investment company, may invite the public to co-invest, Chief Executive Officer Ho Ching said in a speech in Singapore today.
It may also seek “sophisticated investors” in five to eight years and retail investors in the next eight to 10 years, she said.
“Over the longer term, we are exploring the feasibility of creating one more group of stakeholders,” she said. “We can do this by inviting the public to co-invest with Temasek.”
Unquote
Now Ms Ho wants to sell you shares in TH in 8-10 years time. Wow! willing to share a profit making maching or a loss making dummy.
X.X!!!
The point is, even if the money is not lost, we as citizens will NEVER see the money in our accounts. ‘NO FREE LUNCH!’ is what they say whether its rightfully your money or not.
This shows that Temasek is running out of cash.
http://www.bloomberg.com/apps/news?pid=20601087&sid=alrJ5saI19dI
@ 86- Mayhem
Yup. I agree with you. Im just putting the value up to a realistic scale, smthing like….
what can $10k do per head?
1 thing is a matter of us ever seeing that $$,(which i highLEE doubt so)
2nd thing, its what the money could have been used to do, eg, help the less fortunate, handouts, etc.
im sure you get what i mean.. :D
X.X!!!
Ya, got whatcha mean, but they’d rather squander it away then giving FREE LUNCHES to ordinay folks esp those of no merit (disabled or those who lost jobs). We are stuck with the Mafias!
It is deeply disturbing to have a High Commisioner who reasons like that!
They say this and they say that BUT full of errors and contradictions.
It was said earlier that the position of Temasek’s CEO can be of any
nationality as long as the person is suitable for the job and that, this
is where the trouble goes. the board of directors are Singaporeans.
Well now the statement states:
“Temasek board of directors, which includes eminent local and foreign individuals”
Foreign Individuals? Not all has to be Singaporeans?
So who is right?
Tell me something fresher PAP. Sucks to pay for much for something I dont use.
Let us be sincere and serious.
The Incumbent Presidents’ mind should be as agile or fragile as his body.
So, can he think well ?
It is no silly joke when working national affairs.
Mr Michael Eng – Crap on!!! and angkat the old man some more!!!
You guys 100% believe your own rhetoric and spin. When are you going to start thinking about the good of the country and its ordinary citizens instead of crapping on to cover your own silly arses!!!
Mr Michael Eng – just noted that you attended St Patrick’s School.
Obviously you learned nothing whatsoever from the LaSalle brothers – especially the Irish ones, now that you are in Ireland – about how to conduct your life. The likes of Brother Justinian, Aloysius and Fitzgerald would be absolutely disappointed.
Come on, stop the spin, bullshit and sycophancy and get on with governing the country, FOR THE PEOPLE!!!!
The motto of St Patrick’s is Potest Qui Vult – where there is a will there is a way. Singaporeans have to start thinking that way!!!
Joke of the day … Ho will be working in Mcdonalds as a counter staff if not her family tie with LEE
Seriusly, Ho looks like an auntie so much
“Seriously, Ho looks like an auntie so much”
Reminds me of a quote, “if aunties go into the stock market, it’s time to pull out”.
Just for laugh.
hahaha, i vely hepi, let ho ching reign on singapore some more, become acid lain lor, pour money down the drain, then only singaporeans get enough brains (and guts) to throw out the haughty, corrupt, pleased as punch octogenerian..meritocracy..where?where? cannot see..bemused, confused, Potes Qui Vult, oso Delegatus Non Potes Et Delegare..
wow, amazing how many comments there is about the high commisoners statement, or about the entire situation for that matter. just wondering how long it will be before garmen “pull a china” in here and block all this “freedom”
Of course, Mr. Mike Eng is right. The PM doesn’t appoint Ho Ching; its the PM’s father, MM. So he’s factually right in a sense.
99) jarrodtya
They proclaim SG as democratic to the World and have to show it for foreign (Western) investment sake so they cannot & won’t “pull a china” blatantly.
The talents will use their brains to do it in a clandestine way. This is why they are so desperate for top talents. At least China admit that they are not democratic.
Please note: It’s Michael Teo Eng Cheng in Singapore context.