Comments on: The Temasek Charter 2009 – a Post Mortem

By: tiredsingaporean

tiredsingaporean — Fri, 09 Oct 2009 08:51:38 +0000

Ultimately, we all singaporeans would be played into the hands of those MIW again if we do not stand firm to get things moving onto the right direction. Many new bills would be passed to stop you people from turning against them, infact they are already happening now. It’s either they collapse or we collapse soon, leaving those greedy politicians to maipulate things further to their personal gains at the excalating expense of the citizens of singaporeans.

By: Lee Humpty

Lee Humpty — Thu, 08 Oct 2009 16:31:44 +0000

#13 kilanjaro,

“…will this lead to shakeups”

you mean JOB CREATION ?

pls note : to me job creation can mean jobs created as in people are hired but this need not mean less people are unemployed. It can also mean people changing companies or working in non-glc.

I only have questions. I do not have the definitive answers.

By: Patriot Missile

Patriot Missile — Thu, 08 Oct 2009 16:07:30 +0000

The billions if guarded with prudence could create tens of thousands of meaningful jobs for Singaporeans.

Now it’s all gone with no regret.

By: Gigi

Gigi — Thu, 08 Oct 2009 14:03:32 +0000

Temasek is similar to GLCs like Capitaland. The management teams of these organisations make aggressive investments using the funds provided ultimately by the people. If the investments happen to be successful, the management teams get paid handsomely, as in the case of Liew Mun Leong, who was paid a bonus of $20 million. If the investments dont do well, they give the excuse “sorry, market downturn, every company is doing badly”.And then they still continue with their job, waiting to exploit the next cycle upturn.

In other words, head they win, tail we (the people of Singapore) lose

By: kilanjaro

kilanjaro — Thu, 08 Oct 2009 06:12:09 +0000

Quote Imran : “Imagine how many proton car manufacturers can be supported by Temasek if a future government of Singapore decides that such projects are required for ‘national development purposes.”

GLC means govmin linked companies.
How many works in these ?
tens of thousands?

If there is Change of govmin, will this lead to shakeups?

I have no clues. do you?

By: alex tan

alex tan — Thu, 08 Oct 2009 06:08:25 +0000

whose heads has rolled for losing half of our National Reserves? why is Ho Ching still the director? what has Finance Minister got to say about these losses? how is PAP going to take responsible for this?

apparently, we dont need Opposition Parties to lose money. PAP is doing it pretty well already

By: Lynne Pei Hong G

Lynne Pei Hong G — Thu, 08 Oct 2009 06:07:52 +0000

“Now substitute Singapore citizens for the investor and Temasek as their investment manager. In other words, if Temasek exceeds its target investment return then as the owners of the funds Singaporeans should see the benefits.”

While i not sure how the excess returns, if any, is passed on to the citizens, i do like to know if their execs get bonus for excess returns?

who are these execs?

By: joe

joe — Thu, 08 Oct 2009 05:41:29 +0000

thanks to their own doing (no less that of HC and a couple of Ministers – LHH, Tharma, etc), the mere mention of TH is likely to elicit a response of disgust amongst most singaporeans.

And PAP wonders why some singaporeans are so against them.

PAP leaders, do some self reflection and you will know the answer. But history has shown us that those in power has never known to recognise their own mistakes or folly, hasn’t it ?? So what is new …

By: CheeByeBohMoir

CheeByeBohMoir — Thu, 08 Oct 2009 04:54:02 +0000

When Temasick break away from MOF, Why there is no check on the cheque should sign by five reputated person from the Public. Even GIC thousand B$ control by one Old Fart. Why is this so? No voice from the Public. If U voice out middle of the Night they came an arrest U.

By: Yamamoto

Yamamoto — Thu, 08 Oct 2009 04:31:05 +0000

Ah, so because of the twist and turn, our dear TH has the privilege of remaining murky and take take risk? only in singapore

By: popcorn

popcorn — Thu, 08 Oct 2009 04:12:49 +0000

There is an email circulating over the internet that posted the ten most highest paid politicians are all from Singapore, and of all surprises we found president Nathan is drawing the highest at 3.9 million, slightly lower than PM Lee at 3.8m.
Being so highly paid our honourable President should at least query the losses of our reserves. We thought his duty is to safeguard our hard-earned reserves so that future rogue Government would not misuse them.
But then our former ex-president , Ng Teng Cheong, did make some effort to query some funds with some authorities, but was brusquely brushed off.
So we can’t blame President Nathan for keeping quiet, may well as enjoy the high pay
and prestige and other perks. I wish I could run for the Presidency too – easy job.

By: Depresso

Depresso — Thu, 08 Oct 2009 03:00:31 +0000

By cleverly switching the role of MOF from “stakeholder” to “shareholder”, this means total elusion of public accountability by Temasek. However, we must not forget that MOF, being a government entity, is publicly accountable of its monetary policies and strategies to its people, including and not limited to the decision making process of the management and investment strategies of it’s investment arm, Temasek.

By: Worried

Worried — Thu, 08 Oct 2009 02:08:28 +0000

Another question. What is our president role in this saga? He seems ABNORMALLY quiet. Other countries presidents have absolute power to make decision and safeguard its people. Ours? not to mention the amount of salaries he drawn annually. What are all Singaporeans so concerned about our money and he is not? Anyway, that amount is a bait to keep dolphine obedient and performed according to his master instructions.

By: Maria Ozawa

Maria Ozawa — Wed, 07 Oct 2009 17:04:04 +0000

Invest in AV, never go wrong one!

By: WhereMyMoneyGo

WhereMyMoneyGo — Wed, 07 Oct 2009 16:55:38 +0000

TH n GIC board of directors should include prominent Singaporean businessmen n enterpreneurs.

By: HoChing rules

HoChing rules — Wed, 07 Oct 2009 15:38:45 +0000

Temasek has already made it crystal clear that it is responsible to only MOF, it sole shareholder, and I think they also recently clarified in the media that Temasek’s assets should not be confused with the reserves of Singapore. So, basically, all discussion on how their losses are related to the people of Singapore is futile. This is hard to swallow for most, if not all Singaporeans, but there is pretty much nothing to do about.

By: massivelosses_sohow?

massivelosses_sohow? — Wed, 07 Oct 2009 14:50:16 +0000

chip was a good appointment but his leaving already shed light on the leadership and management. temasek does not need another relative to be in charge, mdm ho should stay home and look after husband and mil. after making disastrous decisions, mm did acknowledge that decisions were made too early, causing singapore to lose billions.

temasek side stepped so many questions and played hide and seek on numbers and singaporeans do not have clear ideas:
i) how much was invested
ii) how much was lost
to be fair, they should publish figures for the last 5 years and we can see and judge.

there is little transparency on actual figures, everything is publish in bits and pieces. so it can only conclude they are trying to sweep things under the carpet. and these investments were supposed to alleviate the pressure on citizens through CPF returns, subsidy in housing, healthcare etc. but instead, cpf min sum and withdrawal age kept rising, hdb prices becoming unaffordable etc.. tells us that there maybe big problem with our investments, Singaporeans are made to pay exhorbitantly to cover the gaps/holes brought by massive losses.