Headed by the Cambridge-trained economist Kenneth Jeyaretnam, the Reform Party has been a breath of fresh air in the local political scene. This is the first time in many years that a Singaporean senior opposition politician has an economics background.
His participation in the local political scene has brought assurance that the Opposition in Singapore has adequate economics background in looking out for the bread and butter issues affecting many Singaporeans.
We were reminded again of Kenneth Jeyaretnam’s economics credentials during the Reform Party 1st Anniversary Dinner in his opening speech:
“JBJ said he was often accused of talking too much about politics so now he was going to speak about economics. For my part, I speak too often of economics. I’m confident you all know by now that I am an economist.”
But Kenneth Jeyaretnam is also known to many as a hedge fund manager. At the recent SMU Peace Forum, the moderator introduced him as an Asian hedge fund manager to the audience. In a recent Straits Times report on the Reform Party’s 1st Anniversary Dinner, he is described as:
Secretary-General: Mr Kenneth Jeyaretnam, 50. The hedge fund manager is the elder son of Reform Party founder, the late opposition politician J.B. Jeyaretnam. He worked in London’s financial sector for many years before returning here with his family in April last year.
Both Straits Times and the moderator at the SMU Peace Forum failed to produce unambiguous information about him despite being in close physical proximity. Straits Times journalists were present at the RP 1st Anniversary Dinner. The organisers of the SMU Peace Forum were instructed not to use his CV which stated clearly that Kenneth is now the full-time Secretary-General of the Reform Party. They were also instructed not to mention that Kenneth is a politician. This misinformation is not harmless.
The Secretary-General role of a fledgling party such as the Reform Party is a full-time job. Kenneth has stepped down as a hedge fund manager since he took over the Reform Party. In this aspect, Kenneth demonstrated leadership by example that credible professionals should be proud of the opportunity to serve their country and need not be afraid.
Moreover, in order to run a hedge fund in Singapore, one has to apply for exemption from the Monetary Authority of Singapore (MAS). This exemption is given to individuals involved in a hedge fund with less than 30 separate investors. This exemption must be gained before the fund is allowed to be marketed.
Talking to the press or addressing an audience in a public forum falls under the definition of marketing even if the interview or public forum is on a completely different matter and the mention of the fund comes up as an aside.
Kenneth Jeyaretnam had already cancelled his exemption status when he became the Secretary General of the Reform Party. Any news that carries the misinformation that Kenneth is a hedge fund manager may be misconstrued as the illegal marketing of a hedge fund in Singapore.
Will Straits Times or SMU be held accountable should Kenneth Jeyaretnam be mistakenly investigated by MAS? There is no excuse for institutional irresponsibility and a documented apology is very much needed to be communicated to the aggrieved party as proof should MAS comes knocking on Kenneth’s door.
“Unlike some foreign newspapers, I think the media here in Singapore has … taken the position that they would investigate thoroughly before they publish, and if there are good grounds for them to take certain positions which may be detrimental to the interest of establishment and institutions, they are prepared to do so.”
The abovementioned reassurance on mainstream media by Lui Tuck Yew, Acting Minister at the Ministry of Information, Communication and the Arts (MICA), during the Singapore Press Club Eminent Speakers Series is hardly comforting. In this case, Straits Times didn’t investigate thoroughly before putting up news about Kenneth Jeyeratnam.
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“Will Straits Times or SMU be held accountable should Kenneth Jeyaretnam be mistakenly investigated by MAS? There is no excuse for institutional irresponsibility and a documented apology is very much needed…”
A good article by Donaldson Tan.
We know that the Straits Times is a mouth-piece for the PAP government. It’s time a local independent (non-SPH) newspaper be allowed to be set. up.
In the Reform Party 1st anniversary dinner, all the leaders of the opposition parties were present. Present were diplomats of 1st world countries like France, UK, Australia and Japan.
The opposition coalition is yet not likely to take over as the government but we can be sure when they win a few GRCs and single seats, the PAP would be very willing to hear the grievances and suffering of Singaporeans.
The best thing would be for the PAP government to be voted out of office. The
crony capitalism practised by the PAP would then be replaced by a truly free-market economy.
“We know that the Straits Times is a mouth-piece for the PAP government. It’s time a local independent (non-SPH) newspaper be allowed to be set. up.”
how can like this? won’t thousands of MSM jobs be lost and replaced by new talents? Like this thousands of new jobs could be created as a result.
If there is CHANGE (just in MSM alone), i worry if too many new jobs will be created causing people not so used to it .
GOOD STUFF Donaldson!! Authorities cannot be held accountable for INVESTIGATIONS! They investigated me over suspicion of mis-use of my identity card (I had lost my card on a couple of occassions and it coulda been mis-used!)
Half a day in a waiting area in Bedok police station. At least 4 police staff felt apologetic and expressed so!!! But their official letter to me in the end was NON-APOLOGETIC, saying if I were to commit an offense in future, they won’t be so “lenient”. When did a head of police became a JUDGE??
WTF (Waddafish), all that trouble just because I was one month late in changing my address!! I felt like telling them they might as well arrest those sleeping in parks and bus-stops because they had no homes to change their residential addresses!!
“It’s time a local independent (non-SPH) newspaper be allowed to be set. up.”
Yes! There is a magazine only avail by subscription and lots of good Singaporean topics. Called PALAPALA or something! Anyone has info on this?
Is there a law to stop set-up of an independent newspaper here? I don’t think so but I may be wrong. Can someone confirm this?
I can’t remember when was the last time I bought Strait Times (ST) newspaper. Poor English, skewed views and a poor breadth of political articles are among the reasons. Maybe it was 3 years ago that I bought ST or watched Channel NewsAsia. TOC is an improved opt.
Hi Kelly, here you go:
Read the Newspaper and Printing Presses Act here (Search under N or search for Chap 206):
http://agcvldb4.agc.gov.sg/
The form for a newspaper permit can be found here:
http://www.mda.gov.sg/wms.www/devnpolicies.aspx?sid=223
“Read the Newspaper and Printing Presses Act here (Search under N or search for Chap 206): http://agcvldb4.agc.gov.sg/”
Thankies Rachel! That was what I meant to say. They ALLOW you to apply for the newspaper permit so legally, there is “nothing” to stop people from publishing a newspaper. No one can say “The govt ban us from publishing newspaper.”
The REAL loophole in this legality is – they may not approve the newspaper permit you apply for, because they do not want differing opinions to be louder.
Hi everyone
FYI
The architect of Singapore economic model
http://en.wikipedia.org/wiki/Albert_Winsemius
Thanks
1) JW
“The best thing would be for the PAP government to be voted out of office. The
crony capitalism practised by the PAP would then be replaced by a truly free-market economy. ”
I absolutely agree with you! That would be the best thing that could possibly happen to our country.
Singapore opposition has problems in quality and quantity and it is in a vicious cycle.
Even if the party is new like the RP, most of the CEC people are recycled ones.
Kenneth may have all the right credentials. But if the RP cannot attract sufficient people and cannot contest all the seats, then even if he wins, he will be as good as Chiam See Tong or Low Thia Khiang, never mind that he was Cambridge trained.
And if he try to be garang, he may even end up like his late father or Chee Soon Juan!
So in a way it is quite sad. Politics cannot a passion of one person but need many.
In Singapore politics, either you fight 100% at elections with credible candidates or don’t fight. If not, it doesn’t matter.
Hmm, nice sticking up for Kenneth Jeyeratnam. But maybe it would have been better that he took the initiative and ask the Straits Times for a correction himself. It certainly looks like a minor correction, rather than outright slander. And so to harp on this on this site… makes the site look like its out to bash the Straits Times for any fault. I include the recent TOC article on the definition of Netizens as an example of what seems to be a disproportionate response to a careless flinging of the word by the Straits Times. And ST was somewhat right in its use of the word anyway, it just wasn’t as inclusive as some would have liked.
Also to point out, the TOC is not blameless in terms of accidentally misrepresenting certain articles. The recent article posted about Gayle Goh’s article for one. If I recall correctly, that post was made first without Gayle’s consent and secondly, the title misrepresented Gayle’s stance. Led to a big hoo ha on the comments section of that page.
So yes, I agree the Straits Times made a mistake. And then the TOC replied with a lot of vehemence. Doesn’t look too good for both sides. We’re all human right?
Actually TOC is rather like the ST. It chooses to play up opposition politicians like Kenneth J. The opening couple of paras of this article shows so clearly that the writer is smitten by Kenneth even though the man has not been tried or tested in politics here.
The writer is impressed by Ken’s credentials but the latter hasn’t even shown his political acumen and mettle yet. Rather shallow and skewed analysis.
Straits Times’ report reflects their journalism ethnic indeed.
As I always tell U people “Tiger Father” No “Dog Son”
And U people still wants such an Idiot.
God Bless U.
Hi Michelle #9,
Firstly, ST’s mistake can lead to unwarranted investigation / harrassment on Kenneth Jeyaretnam by MAS. This is not a harmless mistake. Secondly, on Gayle Goh’s article, lifting excerpts without the author’s permission is not an infringement of copyright. There is no need to to ask her permission. The internet space is public space. There is no wall between genres of websites and online communities.
Hi Michelle #9,
This won’t be the first time Kenneth J complains to ST that they made the same mistake again.
Hi Oxford Dude,
Thanks for the clarification.
Michelle (#10),
How does an excerpt and a link to the full article be “misrepresenting” what Gayle wrote? We even provided the line: “Read the full article on BlogTV” at the end of that excerpt.
And the title of the post is paraphrased from what Gayle said in her article as well. How this can be “misleading” is mystifying to me.
I don’t understand your accusation of “misrepresentation”.
Hi theonlinecitizen,
Oops, must have misread that page then. It certainly stood out in my mind that many of the comments on that page were directed at the aspect of immigration and Gayle stood up for herself by saying that her main idea had been about integration all along. In any case, I apologise and withdraw my point about misrepresentation.
Isn’t that great? TOC goes back to having the moral high ground. Keep up the good work.
Hi Kelly, you are welcome!
Bear in mind however that they may allow but there is nothing to stop them from taking your permit away just like that. SPH and Mediacorp have the monopoly of the major papers and there is nothing to stop them from discrediting any other independent papers if the independent papers have published things that the government do not agree with or want the people to read. Even if you have the permit, the resources to print, news vendors might not be able/ want to sell it for you as they are mostly under SPH.
9) Sad on September 27th, 2009 3.43 pm
So, r u only willing to vote for oppositin only if it is PERFECT?
No one is Perfect.
Many have committed Fiascos.
What say u?
I think Singaporeans should give KJ / RP a chance. I will 100% support RP and will also join as a member.
Now is the hour. Now is the time. Strike and strike hard. Hit at PAPPY.
For a start bring them down one or two notches.
They will not capitulate so fast.
Time is against them.
They have run out of ideas.
Wait till the oldie goes to Neverland and they will have a big internal discord.
All the way with Reform Party.
now it time to make change. evolution comes with changes as time passes. just stick to one mad crazy ideas is dangerous and history had proven such issues.
so let’s do it and move on.
nothin new or news..this is where the pap government start activatin their dirty trick department to throw every dirt/skeletons on who they find might be an obstacles…
in leehsienloong golden words
FIX THE OPPOSITIONS @ all cost..paid by ahkong inc….
What else can one describe KJ besides him being a ‘former’ hedge fund manager? (not forgetting the few times I heard KJ’s speech, this was mentioned by him personally too).
We have heard enough about KJ being the eldest son of JBJ, but he is far from his dad who has proven to be a tough fighter for PAP even till his last days.
Has KJ proven himself to be able to lead a political party?
Has KJ proven to be able to face PAP without fear?
I do have my reservation about KJ.
For someone who show no interest in politics when JBJ was fighting and bullied by the PAP when he was alive and yet took over the SG post when JBJ was gone, I am afraid I am rather skeptical and suspicious of his intentions and agenda for joining RP.
In politics, there is no such things as inheriting from what your dad sows, unless of course you want to be like LKY and LHL. So I believe KJ need to prove himself that, like his dad, he got what it takes to be a Secretary General of RP.
I hope to see KJ proving me wrong on all my points above.
Good luck and all the best to RP.
We should realy vote out a few ministers out of office and see if they can draw the same pay in the private sector. They always claim to be talented what
This website is full of praise of KJ and he hasn’t even proven himself in the political arena. Ridiculous!
Aiyoyo, so many commentor so hugnry for Opposition.
I think it time U people have to screw yourself upside-down.
Because U people in the early stage vote for the PAP. Humilate the Opposition.
U give them absolute Power. Now U NKF (Now Kenna Fuck) . And scream in Pain. What a Shame. Many Return of the Days.
What tokking u, diedie. 3/4 of PAP MPs are unproven in the political arena. At least KJ has guts. What have those p65 MPs done ? Boogie?
Dear Paper PaP.
Proven or Unproven let times witness it.
As I have said Rome was not build yesterday. No doubt it will be build.
but not sub-sided way. P/s go to Temasek Review where I have posted my comment about Ape. Mightbe U can get some ideas from there.
My advice is don’t just simply put out your head and let the gulotine chop U.
Many Return of the Days. Bye-Bye Take Care.
the RP should , in my humble opinion, try to talk to the people by way of videos or events more. This can in a way prove to the people what it is capable of doing or how it can represent the people. The bottomline is to show how this party can Voice up and Represent the 33.3% (last count). This means thru ACTION : words, events, speeches, voices , videos , walkabouts, pamphlets, emails, letters.
There is power in Videos. Please release more such videos but more importantly make sure people watches it. A useful way is by Google Ads. You put up a blog but people may not know it exist nor the url. see my point? Go out and Get’em. Engage!
I personally prefer Hong Lim Park events . Its more REAL life. The impact is strongest. So many things can talk about eg. TC report or what is not reported, if any.
Hi Rachel, yes I agree with you! It’s like giving Pepsi the monopoly to use Stevia in their soft drinks. NO OHER COMPANIES are allowed so in the USA.
There are enough physical publications to hold PAP in good light, there should be more online publications to review PAP and opposition parties. Who agrees?
#29. “3/4 of PAP MPs are unproven in the political arena. At least KJ has guts. ”
Yes yes, true!!
#31. Hi Debra! Exactly what I suggested to TOC! Singapore needs passionate people who are willing to set their time aside for this. To bring important things to light – in video and in articles, cartoons and even music!!
I had wanted to sing DO YOU REALLY WANNA JAB ME (to the tune of Boy George’s song “Do you really wanna hurt me”) about the approaching H1N1 flu vaccine. But guess what?
1. My pc audio conked!
2. The jabs are not mandatory here. Whew!!
3/4 of PAP MPs got in through the back door. Useless bunch. But at least TOC did not sing praises of them and try to play up their image like they are doing for this KJ guy!!
At 21) MOE GAN THAI.
I think U are just a “Fence Sitter”.
When opposition are struggling during the 80′s
Where are U? Trying to talk Russian Love Story.
PAP is the world’s best government. They are the world’s highest paid, as well as the world’s longest serving ruling party in a democratic nation.
Please be thankful that we have the world’s best government, and they are not corrupt at all. Please stop all your whining.
At 4:50 JBJ says, “If any Singaporean is happy with the system in Singapore at the moment… Shouldn’t come to us. Go and see Mr Chiam See Tong, or Low Thia Kiang, who are happy with the system.” http://www.youtube.com/watch?v=DJCpCzgbdk8
Was Reform Party thinking of teaming up with Chiam? What a disappointment to JBJ.
KJ is Cambridge-trained economist and a hedge fund manager previously. Why does he want to give up his full-time job and return to Singapore? Why don’t he stay back in UK and enjoy life? Why didn’t JBJ remain a lawyer and enjoy life but choose to fight the PAP and “kana” sued? It’s becos both of them have the spirit of righteous in fighting for the rights of ordinary Singaporeans and that’s the kind of political leaders we need in Singapore today.
However, JBJ and KJ have their own ideas and style. By the grace of the Creator, no 2 person are similar in everything, not even for twins.
At 37) Prophet Kongming.
I love to read your comment & fully support your recomemdation even in other blog.
But one thing I like to comment. Do not judge a Book By It Appearance.
Let Times Witness It. When Election is here look out for “Politics Wayang”. In Election 2001 if i not wrong, there a Wayang play the Tune to swing the electorial vote to the Master Party!
Friends From London
I agree that Kenneth looks good and has the required background, but the political arena is something new to him as well and very unpredictable. His opponents would be just as qualified or experienced. He will face many new challenges. He has to secure a seat and raise financial support for his party.
He has to create more visibility, speak out and promote himself, his party and its policies. He has to reach out and connect with all kinds of public voters, young and old, of different races and income groups etc.
The Reform Party needs to start doing some ground work with the community, 1 year has already passed and not much is known about them. It must benchmark itself against the other opposition party MPs and PAP MPs. It has to launch its PR campaign and come up with events, newsletters, flyers and more.
Hi Donaldson Tan,
“Headed by the Cambridge-trained economist Kenneth Jeyaretnam,…”
Please correct me if I’m wrong, but I thought KJ was also double first in econs at Cambridge U.
Yo Kenneth, tell me you foresaw the global financial meltdown. Tell me you are making big money out of it. Tell me you got a solution to save the world’s economies. Else shut up and don’t flash your credentials because they are useless. We want someone who can solve problems, not repeat what we read from the Shit Times.
At 40)
KJ won’t correct U.
U correct him.
He is a trouble maker.
Friends From London
How dare they commit such libelous slander, calling an upstanding citizen like KJ a hedge fund manager, when he is actually a FORMER hedge fund manager? These is clearly a callibrated vicious smear campaign. What will they say next: will they play up the fact they say he is living in a condo? has a family? Has a good education? I can’t believe anyone would stoop so low.
Economics graduate or not, hedge fund manager or not, it doesn’t matter at all when his ex-counterparts have cited difficulties in working with him. He is fighting a losing battle already, I would be surprised if he goes far in this year’s elections.
I agree with JBJSupporter’s sentiment – “For someone who show no interest in politics when JBJ was fighting and bullied by the PAP when he was alive and yet took over the SG post when JBJ was gone, I am afraid I am rather skeptical and suspicious of his intentions and agenda for joining RP.”