Norway’s Sovereign Wealth Fund Versus Our CPF

We have been told CPF is state secret, it concerns national interest. That we may perhaps accept, then we were told their  remuneration and bonuses also cannot be made public.

Recently, we have seem many losses from foreign media and also local media about the investments which failed. Then a string of changes to CPF related, the members end up paying more and more. Then come all sort of hikes, the mother of all hikes.

Surely somewhere has gone wrong?! Don’t you think so. To many people, CPF is like a black hole, all the ships that sail inside end up nowhere. Recent a senior civil servant told us that the government is studying ways to stop members from using CPF to purchase property.

Singaporeans like to read local news and almost agree with anything the state media says. CPF is state secret and national interest.

Let me share with you the world most transparent and profitable sovereign fund. In record-breaking year, Norway’s sovereign wealth fund passes $1-trillion mark [ LINK ]. The Oslo-based investor says the 2017 return was equivalent to $131bn, or 13.7% And the govt is planning to reward its citizens with this huge harvest. To add to its transparency, all the executives’ remunerations are made known to public! CEO Yngve Slyngstad earned an annual salary of 6.7 million crowns. The shocking part is that the CEO of this fund made around $1.1M Singapore dollars, less than many of our senior ministers and GLC executives.

Norway is first world, it is transparent and totally profitable. You mean there is no national security and state secret in Norway? The world largest fund is managed by a man who is paid $1.1M Singapore dollars. And here in SG, the ministers complained that they are overworked and underpaid and they would have made even more if they go into private. And the management of our funds is surely  not paid $2M but 10s of millions.

You really believe private sector will hire any of these clowns?

Remember what happened to the non transparent black hole, 1 MDB. Only when oppositions won, the light is shone and the outcome shocking. Have you ever wondered why they insisted an Indian to be a Malay President? Why die die despite causing so much anger and unhappiness still insist? TCB is going to check the books?

Norway’s fund is not fabricated news, google it you will be amazed how open and transparent it is. And don’t be conned by rhetoric everything is national interest or state secret. It is only to keep you in the dark and dumb.

 

Ahmad

 

 

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25 Responses to “Norway’s Sovereign Wealth Fund Versus Our CPF”

  • clown ownself check ownself $m:

    Norway is 1st world. Singapore, once 1st world, now fast moving from 3rd to 4th. let us explain.

    we were born before independence. we grew up with the progress and now dying stages of Singapore. we have completed full time NSF and completed full cycle NSR. we speak as concerned Singaporeans unlike some pap Ljs never a single day NSR nor a single day NSR.

    when Dr Goh KS Dr Toh CC were in government, these were true blue citizens with welfare of Singapore and Singaporeans as their primary duty. under such good men, Singapore progressed from slum to 1st world.

    then came wooden go. the MF started the rot with lies such as swiss standard of living, world cup football, more roads for more cars, and such BS.

    next came the MF of all. clown and S$m gang. within a short span of 15 years, due to serious groupthink that clown pap fake news is worthy news, this group of clown pap Ljs and Cbs sank once great Singapore. as lies pile up, Singapore moved to 3rd and now sinking fast to 4th. how not to sink when flooded with 3rd world folks egged on by Lj silly words like Singapore belongs to EVERYONE, we tax you more to help you more, and such.

    Norway is 1st world. no fake news. Singapore is 3rd world sinking fast to 4th. fake news CPF money is not your money. fake news if you take out all your CPF money they would be spent on batam ladies. WTF.

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  • Singapore Fooled Again n Again:

    Remember our TV and Radio licence that was abolished. We were paying $110 per year for each household and lesser for car radio licence then.

    Back to today, what is the standard of the of local free-to-air TV? Don’t have to look far, just go to the prime time slots from 6pm to 10pm from Channel 5, 8, U to CNA.

    10 to 20 years ago, advertisers were queuing to pay top dollars to advertise their brands and products and promotions during and even outside these prime time. Nowadays we are lucky to see even 1 advertiser during a commercial break.

    Wonder how many tens of millions $ or hundreds of million $ of our precious tax dollars were loss running all those TV and radio stations every year.

    Yet media corp is so rich with a mega building with opulent fittings and expensive cars and top salaries to top management. Money come from where? Cannot be dropped from the sky right?

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  • NotMyProblem:

    Keep information in the dark reminds me of my schooling days.

    When I had a “F” for my examination, I would not dare to show to my parents.
    But when I had an “A”, the first thing I would do was flashing my result to the whole family.

    Do you think this is similar with PAP’s result?

    PAP being such an arrogant govt, do you think it would hide something that was good? Don’t you see the amount of skeletons in the closets which required so many million dollars Ministers to keep them hidden.

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  • oxygen:

    ANYWHERE THAT IS DARK for a long time MUST BE DIRTY. Who can refute this?

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  • Norway Most Corrupt:

    PAP.GUARANTEE.WIN.GE2020:

    We need to pay the world highest salary to Ministers, MPs, civil servants so that they will not corrupt and act in cahoot with criminals.

    Do you want our PM and his wife be in the same league as corrupted Najib and his wife Rosmah?

    Most important of all, if you don’t pay us politicians high salary, they will corrupt and act in cahoot with criminals.

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  • another:

    For as long as they kept enhancing the hdb asset no one asked questions. But when CECA robs your Jobs and HDB asset values dwindle, many questions are asked.

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  • Tom Lee:

    clown ownself check ownself $m:
    Norway is 1st world. Singapore, once 1st world, now fast moving from 3rd to 4th. let us explain.

    we were born before independence. we grew up with the progress and now dying stages of Singapore. we have completed full time NSF and completed full cycle NSR. we speak as concerned Singaporeans unlike some pap Ljs never a single day NSR nor a single day NSR.

    when Dr Goh KS Dr Toh CC were in government, these were true blue citizens with welfare of Singapore and Singaporeans as their primary duty. under such good men, Singapore progressed from slum to 1st world.

    then came wooden go. the MF started the rot with lies such as swiss standard of living, world cup football, more roads for more cars, and such BS.

    next came the MF of all. clown and S$m gang. within a short span of 15 years, due to serious groupthink that clown pap fake news is worthy news, this group of clown pap Ljs and Cbs sank once great Singapore. as lies pile up, Singapore moved to 3rd and now sinking fast to 4th. how not to sink when flooded with 3rd world folks egged on by Lj silly words like Singapore belongs to EVERYONE, we tax you more to help you more, and such.

    Norway is 1st world. no fake news. Singapore is 3rd world sinking fast to 4th. fake news CPF money is not your money. fake news if you take out all your CPF money they would be spent on batam ladies. WTF.

    He is so right I just want to simply quote him!

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  • Rabble-rouser:

    Mediacorp’s programming totally unwatchable. Nothing but rubbish programs during the prime time slots between 6pm to 10pm from Channel 5, 8, U to CNA. A lot of repetition throughout the month – same old, same old. Channel 8 is the worst channel – watching freshed-faced actresses from the TCS era 2 decades ago becoming the Mediacorp’s Ah-So brigade today. No fresh faces, meh? Imported HK, Taiwan & Korean drama series sound all too similar – dubbed locally using an arsenal of 3-4 voice-overs personnel reading from a script with either high shrieking, high pitch voices or monotonous tones. The colourful idioms & colloquialism using Cantonese or Hokkien lingua ‘lost in translation’ into the dull & somewhat uninteresting Mandarin version. S’pore began as a Chinese immigrants outpost for Southern Chinese of various dialect groups. The PAP shameful of S’pore Chinese origins or what? We had no heritage with the Mandarin lingua, only with dialects.
    Mediacorp need to reinvent themselves or risk alienating audiences, losing advertiser’s as eyeballs dropped off from the Goggle-Box in an Internet & Streaming Age.

    Singapore Fooled Again n Again:
    Remember our TV and Radio licence that was abolished. We were paying $110 per year for each household and lesser for car radio licence then.

    Back to today, what is the standard of the of local free-to-air TV? Don’t have to look far, just go to the prime time slots from 6pm to 10pm from Channel 5, 8, U to CNA.

    10 to 20 years ago, advertisers were queuing to pay top dollars to advertise their brands and products and promotions during and even outside these prime time. Nowadays we are lucky to see even 1 advertiser during a commercial break.

    Wonder how many tens of millions $ or hundreds of million $ of our precious tax dollars were loss running all those TV and radio stations every year.

    Yet media corp is so rich with a mega building with opulent fittings and expensive cars and top salaries to top management. Money come from where? Cannot be dropped from the sky right?

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  • Forever Best Selfie Mates:

    A Cambridge trained Najib is even more evil and harder to tackle.

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  • Bs:

    https://www.facebook.com/worldeconomicforum/videos/10155422283761479/

    PAP non disclosure of our funds still certain sense.

    But non disclosure of how much is paid to His wife???

    Norway is transparent at all level and massive profit and no issue with disclosure of salary and fund.

    Don’t keep saying everything is state secret or national interest.

    And keep saying Singapore is transparent.

    My asxxxzzzzz

    Watch this video to see how transparent is Norway and how much they are repaying it’s citizens as compared to Our black hole CPF!

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  • PC Ong:

    Actually, the Norway govt is quite dumb to reveal everything when nobody ask them to do so. In the business world, where got anyone tell the whole world everything that you have? Surely you must keep some cards close to your chest. As for our CPF, till to date, there is no evidence that any losses have been realized. In Temasek and GIC annualized returns over 20 years are the envy of other sovereign wealth funds. The biggest evidence of our CPF doing well is that to date, nobody has been denied his money when it is due.

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  • opposition dude:

    What with so much quietness over non transparency and such I wonder just how badly managed the funds are.

    Guess we can only find out when PAP is the opposition.

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  • Worrying:

    Would you put your money in a company tt refuses to tell
    you the basics? That is what we’re being asked to do!
    It’s like following a stranger without knowing where he’s
    leading you to!!

    If you get taken to a place where you are beaten up, raped,
    robbed, tortured, killed, whose fault is that?!?
    You alone are to blame for being stupid and too trusting.
    Blind trust is for very young children and fools.

    But this is the govt, you say.
    All the more reason there should be accountability.
    Responsible and honest govts don’t hide things. But govts
    that are up to all kinds of hi jinx do

    In refusing to disclose facts and figures that it
    should, the govt is letting down the 70% who voted
    for it and putting itself in a very bad light. Why
    should other govts respect and trust ours? How can
    one be proud of such a govt?

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  • Holy Shit:

    In 2009, after the GFC the HolyShit of TH wanted to bail out.They brought in Chip GoodYear to scape-goat; he was smarter than that.
    Market turned and TH got stucked with the HolyShit for the next ten years and counting.
    Up till today no tax-paying citizen have a clue how much HolyShit makes; high time all citizens ask for this very basic transparency—first world country indeed.
    TH reports results next week; let us shine a light on this very very dark area. Darker than the caves in Thailand!

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  • TUCK WAN:

    Let hear what the ‘woody’ C.T. Goh
    have to say ? When He Promised Singaporeans we be living in the First World. Fuxk Him. All Bullshits. We are now the limbo world.

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  • UniQ:

    Simply because the professionals managing the Norway Wealth Funds are accountable to their duties.

    As for us ? The word Accountability never exist in with the Papigs.

    Best of all Sinkies whimps accepted and worst 70% sings along.

    Its a PERFECT equation to spell doom for any institutions.

    Owning properties/Assets = to wealth ??

    LOLOLOLOLOLOLOLOLOL……

    Anyone wonder what if SGD falls ? because is really SGD that wanted in the currency market or its being manipulated far too long with a failing economy and huge loss of investment ? asked yourself

    LOLOLOLOLOL……

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  • Rabble-rouser:

    @ UniQ:
    Mate! Owning properties/Assets in S’pore is a greater fool game. Those who paid over $1 million for their HDB flats like The Pinnacles @ Duxton must be seen having a ‘Greater Fool’ hashtag attached to their foreheads. Whose going to take over their HDB flat at a higher prices in the future? NOBODY! In fact the whole HDB resale market is being seen in a thoroughly different light these days. Deflating->Collapse?
    And as for the private property market, the unexpected announcement last Thursday 5/7/18 of higher stamp duty rates and tougher loan-to-value measures for buyers ran counter to the bouyant property market sentiment. The recent private property bull run which started with a EnBloc surge in 2017 had no market fundamentals. Truth was that the Developers had ganged up to ramp up a 5-yr stagnant property market using the EnBloc process as fuel to lit up the market. Racketeering!
    Knowing the KIASU nature of S’poreans & rich S’pore-based foreigners of a runaway S’pore property market – it worked! Now it was more like a herd of masses of liquidity flushed investors attending new launches looking to book units like it were a leh-long sale. But we’re into the midst of a Global Trade War being instigated by War Mongering US President Trump against China. Short of saying that CASH IS KING! And being debt-free & without any financial obligation are good virtues going forward.
    Ha-ha-ha-ha! Outside of S’pore & M’sia, re: banks & the money changers on both sides of the causeway, no one really wants the SG$. A friend who visited Australia on holiday complained bitterly about the Forex rates there for the SG$. They only ever wanted to do business on US$, £, €, ¥ & it’s closest neighbour, NZ$ – All reputed established economies & all Western economies except Japan.
    The SG$ is constructed using a basket of major traded currencies. But it had been MANIPULATED for stability & appreciation re: MAS CURRENCY EXCHANGE STABILITY POLICY. Why MAS had incurred losses defending the SG$? That means the SG$ has no free float status, the MAS had to intervene (sell foreign reserves) in the currency markets to hold the SG$ Forex value. – Cont’d -

    UniQ: Owning properties/Assets = to wealth ??

    LOLOLOLOLOLOLOLOLOL……

    Anyone wonder what if SGD falls ? because is really SGD that wanted in the currency market or its being manipulated far too long with a failing economy and huge loss of investment ? asked yourself

    LOLOLOLOLOL……

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  • Rabble-rouser:

    @ UniQ:
    The reality is that SG$ has a rapidly depreciating purchase value ie. a high erosion of real currency value. Conversely, it also means that S’pore Economy under the PAP runs an extremely high inflationary situation which is reflected by the constant cost-push increases & various upwards adjustments to fees, rents, licences, levies, etc. Long story short, a SG$1.00 20 years ago is worth only about half today eg. SG50¢. My favourite bowl of fishball noodles was $2.00/$2.50 in 1997/98 at the kopitiam. Today you have to pay $4.00/$4.50 for a bowl with lesser ingredients than in the past. In S’pore, you’re dealing with an erosion of currency purchasing value on top of a stagnant wage market. SG$ isn’t as good as it looks on the outside.
    The high inflationary eco-system & the zero yield of SG$ deposit puts pressure on growing savings which are essential to survive in S’pore high cost environment. In the past, the stockmarket was thought to be an avenue to grow capital. That is why over the years people lost faith in the SGX re: CLOB, S chips (China shares), O&M meltdown in 2014, etc. For the same period, holding properties had outperformed shares. And the 2004-2011 foreigner influx boosted the housing rental market. The recent success of property market (2006-2008 high end; 2012-2013 mass market) created a 1-way surge into investing on properties but the conditions had since changed. Real property players had cashed out after 2013 & are waiting on the sidelines eversince. The market post-2013 were mostly wannabe property investors who want to get their fingers wet. A lot of wannabe property investors are too debt levered to be able to ride out the vulgarities of an extremely volatile S’pore property market. Frog porridge, anyone?

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  • LIONS:

    Let me share with you the world most transparent and profitable sovereign fund. In record-breaking year, Norway’s sovereign wealth fund passes $1-trillion mark [ LINK ]. The Oslo-based investor says the 2017 return was equivalent to $131bn, or 13.7% And the govt is planning to reward its citizens with this huge harvest. To add to its transparency, all the executives’ remunerations are made known to public! CEO Yngve Slyngstad earned an annual salary of 6.7 million crowns. The shocking part is that the CEO of this fund made around $1.1M Singapore dollars, less than many of our senior ministers and GLC executives.

    Norway is first world, it is transparent and totally profitable. You mean there is no national security and state secret in Norway?
    ==============================================================================
    yep,send HOLE$ JINX to learn from the norwegian swf CEO.

    THATS WHY IN $IN CITY,PAY $$$ GET MONKEY$?

    worst of all,these monkeys think they are superior?

    TIME TO REPLACE THESE USELESS N ARROGANT UNDER-PERFORMERS WITH REAL SG TALENT.

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  • IB Ong:

    this is your best post ever !!!!!

    The absolute dab of IB speak.

    And you the epitome of the class of people called IB.

    You have earned your keep.

    PC Ong:
    The biggest evidence of our CPF doing well is that to date, nobody has been denied his money when it is due.

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  • pakuqaz:

    can’t believe peoples still watch Channel 5,8,u and CNA!!!
    I give up my TV 20 to 25 years ago hor.

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  • UniQ:

    @ Rabble-rouser

    Bro !!!

    *CLAP*CLAP*CLAP*

    Sad isn’t it ? Sinkies claimed to be well travelled and globalised…but don’t even know what’s going on ?

    Let you in on something, The Chinese Gahmen boards has shut the doors on all our GLCs except Singaporean private businesses for sometime liao.

    LOLOLOLOLOL….

    If not why so many cronies are travelling there lately to resuscitate ? While locals are business as usual (with caution). Many local entrepreneurs were even offered Chinese citizenship with a promised of state funds if they techs and hubs into China. While what do our gahmen do to our local businessman ? ask yourself.

    American talks about our $ in their pockets.
    European shaft their policies down papigs throat
    Indian wants Sinkie land as part of their own
    Chinese rejected Sinkie Cronies
    Neighbours finds us too arrogant to do business with

    Now tell me if our current so call world best leaders are really that Crem’e de la Crem’e ?

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  • Can you get any dumber?:

    PC Ong:
    Actually, the Norway govt is quite dumb to reveal everything when nobody ask them to do so. In the business world, where got anyone tell the whole world everything that you have? Surely you must keep some cards close to your chest. As for our CPF, till to date, there is no evidence that any losses have been realized. In Temasek and GIC annualized returns over 20 years are the envy of other sovereign wealth funds. The biggest evidence of our CPF doing well is that to date, nobody has been denied his money when it is due.

    Save your stupidity for less intellectual readers on MSM.

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  • Black Magic:

    Where our CPF savings before the 90s used to be a beacon of light that illuminated our dream homes and our retirement years, it has become so dark & dense that enlightenment has abandoned the dollar- heads who presume to manage it.

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  • Rabble-rouser:

    @ UniQ:
    North Asians re: China, Taiwan & HK are experts & exponents of “THICK FACE, BLACK HEARTS” 厚黑學 business philosophy. Suzhou SIP was a classic case of 厚黑學 inflicted on the late LKY (despite speaking fluent Mandarin, LKY was still a BABA). He got screwed by the Chinese. Look at Li Ka-Shing (of HK) instead, he had never lost money investing in China. In fact, he made billions out of his many investments into China. What does that tell you?
    Link: https://en.m.wikipedia.org/wiki/Thick_Black_Theory

    UniQ: If not why so many cronies are travelling there lately to resuscitate ? While locals are business as usual (with caution). Many local entrepreneurs were even offered Chinese citizenship with a promised of state funds if they techs and hubs into China. While what do our gahmen do to our local businessman ? ask yourself.

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