We know the government well…Because of the losses, they will eventually have to raise GST (Goods and Services Tax), road gantry charges and other service levies.
A retired civil servant, quoted by The Star Online, on Temasek’s losses
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aiyoyo
saw today cna news :
“SMRT’s Q1 up 19.6% to S$48.2m on higher operating profits”
is fares to drop further?
stolen from another source…
What can S$40 billion dollars do for Singaporeans?
——————————————————————————–
From our Correspondent
It was revealed lately that Temasek Holdings’ portfolio had declined by at least $40 billion (= $40, 000, 000, 000), or more than a fifth, in the year 2008 to March 2009. (Source: Reuters)
Now, what can this sum of money do for Singaporeans if it is not lost?
To put things in perspective:
- Each Singaporean will receive $1,3333 in cash or top ups in medisave (assuming the number of citizens to be 3 million)
- It will take an average Singaporean earning a median pay of $4,000 83,3333 years to earn this amount of money.
- It will provide 4,000 families on Public Assistance Scheme $41, 700 a month for the next 20 years or
- 8,000 retrenched Singaporeans $20, 850 a month for the next 20 years till they find a job.
- It can build 80 Khoo Teck Puat hospitals to cater to residents in every corner of Singapore.
- Free upgrading for all the HDB estates in Singapore (inclusive of lift upgrading).
- Pay for the tuition fees for 800, 000 university students (assuming $50,000 per student) for their entire course of study.
- Buy 200,000 3-room HDB flats for 200,000 poor, destitute and homeless Singaporeans (assuming cost of $200,000 per unit).
- Waival of the S&C charges of 555,555 households for a period of 100 years (assuming $60/month per head).
- Waival of all income taxes for a year ($29.1 billion dollars was collected by IRAS in 2007)
How can a country which can afford to lose $40 billion dollars in less than a year not able to provide more welfare for its citizens?
Well, this is hardly surprising when the person responsible for the loss is re-appointed to lead Temasek again!
………………………………..
now the focus is
leehsienloong
how much debts we still
OWED to your famiLLEE?
Fellow Singaporeans,
It’s time to shake off our lethargic and pathetic nature. May I suggest an online petition calling for Ho Ching’s dismissal and Lee Kuan Yew’s stepping down from GIC?
>100,000 signatures will send a ringing message of public discontent with them.
Sorry. I think in the next couple of years, SMRT will probably request to increase fares again due to rise in operational cost.
Usual reasons are ,
1) We have not increase fares during downturn to help Singaporeans. (Compassion)
2) As population increases, demand of sevices is higher, hence the need to increase fares to meet these demands.
3) Extenals factors has increase the operational cost (they are eating into our profits). Being a listed company, we have to answer to our shareholders. It is important to maintain (increase) the profit margin.
4) The wages of employees have risen and we have to increase our fares to maintain our operating cost.
5) In view of the hardship that our fellow Singaporeans, we had deferred our fare increase on many occasions.
6) (We need more money to explore international market. It is our ambition to flex our muscles globally)
The above mentioned in () are just my speculation.
I echo yr Sentiments #4, they will come up with some fantastic reason not to lower fares, but one day if they start to see reduced profits, fares will go up before you can finish saying PTC
If not, where to get money. Rob the bank!!! HAhaha.
The Quote merely stated the obvious !
That’s their specialty ain’t it? generating profit by giving excuses to increase fares and thinking of more contradicting excuses not to reduce it when the time comes…
like that phrase in pirates of the Caribbean: “welcome to singapore”
Get them a mandate for another 5 years and you singaporeans are all going to start digging your own graves, or I forget, do it across the border as lands here are too expensive.
Hiyah,
Only a few online citizens making lots of noises but no bites, the majority of the voters couldn’t care less what the hell is happening lah. Come next election, almost the same result will take place. Don’t believe? Just watch.
Hiyah Yah
GST and ERP ,Healthcare WILL go up and they blame us for not saving
Think properly before votting for them
“9) tiredsingaporean on August 1st, 2009 11.53 pm Get them a mandate for another 5 years and you singaporeans are all going to start digging your own graves, or I forget, do it across the border as lands here are too expensive.”
No Need for such move coz they have thought of it proactively by making it easier for some of us.
Quote “Asia’s largest columbarium
By Yang Huiwen
SINGAPORE will soon be home to Asia’s largest ‘six star’ columbarium, according to a Malaysian company which is investing $50 million to renovate an existing facility at Choa Chu Kang.
The facility Nirvana Memorial Singapore will have space for up to 15,000 single-urn-lots in the first phase of development, spread across six suites. The first phase of the 11,200 sq m building will be completed at the end of next month.
Upon the completion of the third and final phase in 2011, Nirvana Memorial will be able to accomodate as many as 40,000 niches spread across four suites.
‘Six star’ columbariums feature comfortable facilities for visitors.
The fully air-conditioned premises is designed with the elements of Fengshui in mind and the highlight includes a main praying hall adorned with three Buddha statues and a see-through sky roof.
It will also have a few VIP rooms, eight prayer rooms, spacious walkways, a customer service reception area and even a cafe. The rooms which house the niches are carpeted with ample lounge space and couches for visitors to rest.
Malaysia-listed NV Multi Corp, with over 20 years of experience in bereavement care services, acquired the building – formerly known as the Buddhist An Le Columbarium – and lease-hold land for $13.5 million last year and is spending another $35 million to refurbish it.
The land has a 30 year lease with the option to renew for another 30 years.
‘The response has been very good so far… we have been getting a lot of inquiries,’ said founder and chief executive of NV Multi Corp Dato Kong Hon Kong.
The group has appointed about 80 distributing agents so far to help market its business and is collaborating with about 30 casket companies in Singapore.” Unquote
All are well planned out in the first world society.
Let’s all sing together now:
WHAT DO YOU SEE?
As cruel as it sounds but i think only when Singaporeans start dying of hunger will they realise the severity of the situation. Otherwise they will be happy having 1 meal a day provided by the charities and public assistance money.
aiyoyo
think when loss, commoners get to share.
when gain, not really sure commoners get the share?
aiyoyo
Aiya, $40 billion only, peanut lah !!
You all tell me what is new?
We are paying millions and millions of dollars just to grow the economy in Singapore. But hang on, they are milking Singaporeans to grow the economy. Let’s say we take away all citizens tomorrow, how are they going to increase their coffers? But hang on again, they’re going to loose millions more, all the while still living up to their million dollar salaries.
I think an online petition is good , how about it TOC. When I saw the Malaysian going on to the street to repeal the ISA, I told my wife they have courage, shame on us Singaporean! At least we can start the on line thing first.