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Singapore is failing

The sinking of NOL and the sinking of next ship of SPH. And the handling of pandemic and the resurgence of second wave. SIA is sinking, Singtel also sinking.

One thing, these appointed leaders are good at is giving excuses and deflecting blame. The tongue twisting prowess of LW, OYK, Jteo, KBW, Shame et cetera are certainly beyond the reach of many of us. Their acting skills are better than golden horse.

Some how they always have reasons for things. If they can’t fix, they change the outcome, the like of Stimes becoming non profit. Even the blind in Singapore would know there is no editorial independence in Singapore, why would KBW make it sound like that the independence has made the paper so successful today. He should be given best actor and live time achievement award for believing his own version of truth.

Remind me of trace token, I was told now they are taking back all the first gen and re-issue third gen. And the first or second gen, you need to go back to the source to change battery, you need to pay for second change onwards. Honestly, who is the clown who design this? Until now, we do not really know what benefits of trace and trace tokens. We only know that it did not help in containing the spread but brought all kind of inconvenience!!!

Lawrence Wong said India to Singapore is kept open because we need workers for BTOs and menial workers. But after looking at all the cases, you see most are on short term visit and dependent passes. Who is the clown to bluff us? The spread of second wave is mostly related to these infected with variants and who are still coming into Singapore resulting Singapore going back to Phase 2. Instead of clamping down on the source, LW and his team are clamping down on Singaporeans.

My friends, looking at all the problems associated with their policies, can you conclude these clowns are responsible for all the BS in Singapore? But again, we can blame these clowns but look here, who is leading them?

 

Reboot

 

 

yyy
READER COMMENTS BELOW

34 Responses to “Singapore is failing”

  • Question for everyone:

    Is that got to do with cheap but low calibre FTs and FWs? From countries which have not proved their countries are capable of advancing.

    The deteriation is all rounded even involves workplace high accident rates.

    The economy productivity and quality is obviously far below par compared to old days. One day Singaporeans wake up asking why we are being China, HK, Taiwan, Japan and Korea.

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  • You Failed Your Owns, Period!:

    The hard question is not who is leading them – is who put them there?

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  • Billy ma:

    While Singaporeans are not allowed to send off their loved ones or even have the freedom to visit the sick, PAP deed it very important for people from India to come visit their families here.

    Limiting the number of people for funerals & visitation to hospital is equivalent to a BAN.
    Thats the way it is.

    But PAP declared that we must allow people from India out of compassion.

    What is this?

    And now PAP is pushing all the faults onto the citizens for the latest mess.

    The anger of native Singaporeans is at boiling point.
    Most are just holding in.

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  • Tremendous:

    A chief said the disease breached the airport defences.
    Just own up to his blunder not to close early, there should be a petition to remove him for running away from accountability.

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  • xoxo:

    Sg Miracle was made possible despite of our lack of natural resources.
    We only could boast an honest and hard-striving Singaporean workforce that was ranked among the top in most official international surveys from BERI TO ILO.

    Sgs worked hard to bring about a better standard of living for all,even the weakest and poorest among us.

    It was indeed an act hard to follow by our Asean neighbours.Even the germans were ranked behind us!

    National productivity was at the highest ever seen in Sg.
    Then came 3G and 4G leaders who were mainlh of the book-work kind;who,at the very premature age of 18,were made scholars and promoted to officer-ranks while still schooling abroad.
    They came back armed with high merits and distinctions from their mugging and assigned important roles without having to compete with locally educated graduates.

    Later,become PS,DS,CEOs of GLCs and head govt agencies AUTONATICALLY.
    NOT A FEW FUMBLED AND CAUSE many ordinary sgs to suffer with their bad management and judgements.

    The further INCORPORATION OF SG,after ALL 1G MINISTERS WERE REPLACED EXCEPT ONE CALLED MENTOR,LED TO ESCALATING COSTS OF LIVING AND SUVSEQUENT LOWERING OF STANDARD OF LIVING so much so that many Ah Kongs and Ah Mahs got to go around scavening CATDBOARD LITTER TO SELL FOR A PITTANCE?

    MEANWHILE,MORE SGS GOT REPLACED AND THE REST IS WHAT WE ARE WITNESSING NOW.
    LIVING HELL IS WHAT MANY FORMER GLORIOUS NATION-BUILDING sgs are going through.

    Even from the $100 BILLION OF RESERVES HSK LOOTED FROM Sgs’ hardearned RESERVES,these needy sgs got a paltry $600 when hundreds of tbousands NON-SG FTs got much more?!

    Is this still OUR SG?
    ARE THE ACCUMULATED RESERVES TRULY OURS?

    DOES CITIZENSHIP COUNT AT ALL?

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  • PAP snake oil seller:

    The Profit Above People Party(PAP) is headed by A CLOWN who has a super big ego. This clown is surrounded by YESMAN and women. This group of DICKHEADS CANNOT make it in the real world. The reasons they give for their failures is LAUGABLE.

    The Bugs Bunny tooth Chan (cotton comes from sheep) was saying that in times of crises the people always vote for the incambant. However PAP show of votes was POOR. They even lost a GRC to first time opposition candidates. If they had called for elections in normal conditions their vote count would have been even lower.

    Ong Sweet Cake was a laughing stock when he was fumbling for words when addressing a crowd in East Coast. It is LAUGABLE that before elections he did not know that he had a short runway only after elections he was aware of it.

    LHL has EGG IN HIS FACE as both Roy and Leong without too able to pay the amount they were sued for. This Pondan CANNOT even control his wife or have peace with his brother and sister but wants to control Singapore.

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  • Laughing ToeNails:

    ”Goh: I wouldn’t have handed power to Lee Hsien Loong if he was strict like his father”
    There are 3.52 million citizens in sinkiestan.
    Each have 10 toenails.
    I have just heard ’3.52 million multiply 10′ toenails laughing, including Swiss Woody.
    Nation is very covid-depressed ; Woody trying to cheer us up with a good joke. Like
    qualifying for World Cup, Swiss Standard of Living etc.

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  • nathan chen:

    Now, they are giving the bullshit excuses why they did not close the bolder sooner.

    They did not close the bolder because they did not want to deprive Singaporeans of the 60k domestic helpers from overseas.

    They did not close the bolder to infected foreign workers from India because they did not want to deprive BTO flats to Singaporeans.

    The new MOM Minister Tan See Leng from the 5G leaders is just anther brick in the wall of the PAP’s Ivory Tower.

    Who does he think he is trying to fools?

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  • TNLM:

    The just new minister of health not so lucky.

    Ah gan handed over to him a bomb to diffuse.

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  • eh:

    Please, SIA share price is doing very well now. During global lockdown, every airline suffer. But SIA share price has rebounded better than other airlines. Some airlines will fail but those that remain will emerge from the crisis even stronger. SIA is definitely one of them. At the current level of $4.80, SIA is significantly undervalued.

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  • xoxo:

    Still ringing in my old old ears,* FTs will create more jobs( decent paying jobs,i presume) for sgs*,bla,bla,bla and bla.

    Yep,more food pandas,grabbers and taxi uncles and cardboard collectors?

    But then again, how can we take the words of the one who said *MEE SIAM MAI HUM*?
    Mee siam got put hum ,meh?

    PEOple,you cannot trust flimsy speaking PAPple.

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  • Harder Truths:

    $G failed years ago. $G citizens’ fallout from this has been cleverly disguised and hidden. But this can go on for only so long. By the time people realise how stupid they have been it will already be too late to stop the train wreck.

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  • Flickshit:

    All these wayang will backfire them. No substances mean no substance, but yet they pretend that they have a lot of substance. This is the foolish of the 60% being blind and deaf, but may enjoy some specials privilege from the party.

    Well, let look for the days when all these pretenders will plunder down into the deepest pits for tasting their own e**l doing….

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  • Smart Nation:

    eh:
    Please, SIA share price is doing very well now. During global lockdown, every airline suffer. But SIA share price has rebounded better than other airlines. Some airlines will fail but those that remain will emerge from the crisis even stronger. SIA is definitely one of them. At the current level of $4.80, SIA is significantly undervalued.

    Did the G pump in any help? Did SIA receive any part of the $100b pandemic relief package? How come can do so well when few people are flying at this time? Wasn’t there news of lay-offs of staff and crew members?

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  • NotMyProblem:

    You Failed Your Owns, Period!:
    The hard question is not who is leading them – is who put them there?

    Maybe put it this way the 61% can understand;

    “Idiot politician is not the problem, the problem is having idiot voters keep voting them in”!!

    Also; “there is cure for cancer, but there is no cure of stupidity”

    More; “intelligence has its limit, but not for stupidity”.

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  • MOM talking cock:

    Straits Times: Businesses, families would have been severely hit if Singapore had closed borders to migrant workers: MOM

    The reason Singapore needs so many migrant workers is because the productivity in Singapore is poor. Why? Blame Lee Con You. He stupidly focused on GDP instead of productivity growth. He wanted to keep wages low so over a million low-skilled or unskilled workers were allowed into the country. For many years, productivity was very low even negative.

    Lee Con You and PAP could have increase GDP through sustained growth in productivity. But he didn’t because this required a well-educated (not cheap) work force, i.e., more local graduates. But Lee Con You considered graduates as a threat to PAP political dominance.

    Even those skilled trade (electricians, masons, carpenters, steel workers, etc.) were paid poorly. So nobody want to go into it. In real 1st World countries (US, UK, EU, Japan, Canada, Australia) those in skilled trade can get a decent wage and have a good life but not in Singapore because of Lee Con You’s and PAP’s stupidity and incompetence. Lee Con You should burn in hell.

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  • Fallen sinkies:

    Many singaporeans already fallen.
    ” No singaporean will be left behind. .”?
    ” No one will be left to fall into the cracks…”?

    Words only.
    But we cannot survive on mere nice sounding words alone.

    LHL makes promises he has no intention to keep and never kept.

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  • xoxo:

    Frankly,once i was proud of my country and dignified as a trublu sg.
    Now,i feel nothing at all; no pride and dignity robbed by own govt.

    Getting $600 out of $100Billion from OUR RESERVES was very insulting as a nation buolder.
    I am sure many feel likewise.

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  • eh:

    Smart Nation: Did the G pump in any help? Did SIA receive any part of the $100b pandemic relief package? How come can do so well when few people are flying at this time? Wasn’t there news of lay-offs of staff and crew members?

    All national carriers received government support during this period. The layoff of staff reduce SIA costs and increase its competitiveness. But the stock market is forward looking, and investors can see that in 6 months to 1 year from now, SIA will do very well, hence the increase in share price. At the current $4.80 level, there is at least a 50% upside for SIA shares

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  • Speculator Discovered:

    Because he is holding SIA shares but no people want to buy. He is a speculator.

    Smart Nation: Did the G pump in any help? Did SIA receive any part of the $100b pandemic relief package? How come can do so well when few people are flying at this time? Wasn’t there news of lay-offs of staff and crew members?

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  • #06-189 Guai Guai She She:

    More impending flops?

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  • Smart Nation:

    Walked into a store one day and was served by a South Asian. Asked me where I was from and so I told him. “Oh, SG was very good under LKY! But now…” And he gave me the thumb down. Should I have agreed with him, or not?

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  • oxygen:

    @ eh

    ARE YOU SERIOUS, SIA is significantly undervalued?

    eh: Please, SIA share price is doing very well now. During global lockdown, every airline suffer. But SIA share price has rebounded better than other airlines. Some airlines will fail but those that remain will emerge from the crisis even stronger. SIA is definitely one of them. At the current level of $4.80, SIA is significantly undervalued.

    What basis? Or are you “just kidding”?

    Market capitalisation basis?

    SIA mkt cap. is S$14.86 bln, Qantas is A$8.44 bln and CPA is HK$41.96 bln I checked a moment ago.

    SIA is “most expensively” valued to its closest competitors – Qantas/CPA – looking at raw financial numbers.

    Survivability – SIA has got no domestic route or base load feed of passengers. Qantas got Australia and CPA, some of the China travel feed.

    Australia is not opening its border until mid 2022.

    Australia refuses to reopen border until mid 2022

    https://sg.yahoo.com/news/australia-refuses-reopen-border-until-123127248.html

    When can we safely open our border to welcome inflights and outflights from Sgp and transit flights from Asean region?

    PERSONALLY I INVEST IN OTHER SECTORS other than airlines/leisure related sectors. I worry if they will survive the rolling surges of waves of Covid pandemic.

    THIS IS NOT INVESTMENT ADVICE, just one man’s little maybe irrelevant opinion here. TK.

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  • liew mun leong must be jailed:

    eh:
    Please, SIA share price is doing very well now. During global lockdown, every airline suffer. But SIA share price has rebounded better than other airlines. Some airlines will fail but those that remain will emerge from the crisis even stronger. SIA is definitely one of them. At the current level of $4.80, SIA is significantly undervalued.

    not true at all. based on our analysis, SIA is worth no more than S$1.49 each share.

    if you care to take note, all the dying ones owned by pap affiliated, dying ones such as SPH and such, all have share prices on the up and up.

    if cotton sheep believe in the lie, then, they pay for it with their cotton. because SIA and SPH and such, cannot is such an environment have their secondary market price per share go up UNLESS there is manipulation to trap cotton sheep.

    SIA share price goes up? on what basis? no tangible basis other than pap clown wife is playing the market to BS cotton sheep.

    SPH share went up from 99cents to over S$1.50 per share in such a short period. how come can be so? again. pap clown wife is playing the market to BS cotton sheep.

    if anyone tells you SIA SPH shares are under priced, walk away. because that person works for pap clown wife.

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  • HK election corruption:

    HK has “political integrity”. By HK standard, a failed island in the sun would have a change of gov.

    https://www.thestandard.com.hk/section-news/section/11/230270/Former-Starry-Lee-assistant-guilty-in-$100-gift-pack-case

    A former assistant of lawmaker Starry Lee Wai-king and a resident group volunteer have been convicted of corruption for distributing gift packs containing products worth HK$100 to two residents to tempt them to vote for Vincent Cheng Wing-shun in a by-election three years ago.

    The former assistant, Wong Wai-ha, 52, and Hoi Lai Estate resident Deng Yimei, 42, were found guilty at West Kowloon Magistrates’ Courts of conspiracy to engage in corrupt conduct at an election by offering an advantage to others.

    “How can it be campaigning if the defendants were using gifts to entice others to vote? Shouldn’t campaigning be based on the candidates’ past performance and the policies they proposed to persuade voters?” Hui asked.

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  • Pink trickle-down Papeconomics:

    Top-of-the-world Big Buck$ & bonuse$ for Pappy GLC CEOs (official state secret) and NO minimum wage for citizen sheeples.

    Highest costs of living in the world and the lowest median wages in the world (approx. $3000/month).

    GIC & Temasek sovereign wealth funds draw capital from citizen retirement funds in top secret….. Fuiyyoh!!!

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  • oxygen:

    @ eh

    HOW DO YOU EXPLAIN THIS – SIA was $4.86 yesterday (18/5/2021) – today (19/5/2021) it closed at $4.70, down 16c or 3.29%. I checked the SGX website a moment ago.

    eh: But the stock market is forward looking, and investors can see that in 6 months to 1 year from now, SIA will do very well, hence the increase in share price. At the current $4.80 level, there is at least a 50% upside for SIA shares

    I know stock market discount forward outlook 6 months ahead BUT YOU CAN’T USE THIS to explain valuation volatility in the short term to assert SIA is under-valued.

    It is in your mind “undervalued” yesterday, is it even more undervalued today?

    I don’t think so. If I had bought yesterday (I won’t buy any airline share) looking for a 3% dividend yield for a one-yr RISKS holding period – that dividend harvest is already wiped out today -IN JUST ONE DAY OF TRADING! And if it drops another 16c tomorrow, I am in a losing bet, don’t I?

    An undervalued stock, SIA or another, isn’t going to fall by 3.3% IN A SINGLE DAY – its volatility reveals its vulnerability and ACTUAL RISKS OF BEING ACTUALLY OVER-VALUED YESTERDAY by a tune of 16c at least. And if declines further from now as market turns volatile, one could argue SIA share price today closing at $4.70 is INDEED OVER-VALUED. Or is it still not of continuous discounting of market valuation?

    I read in website people spoke elegantly of buying dividend-paying stocks as allegedly “undervalued” buy. To me this is garbage investing logic – one day’s stock fall is enough to wipe that out! Bad times might even wiped out dividend all together.

    One of the clue of an over-valued stock is a daily volatility decline of 3% or more. I mean a 3% or more is a big fall – a red flag of speculative overvaluation risks, in my judgment, unless the whole market collapse.

    I believe SIA has a convertible bond right issued to TH whereby the latter agrees to take up at a fixed price – say $X per share -at some future date.

    If SIA share share falls below $X per share, TH would be stupid to pay a premium for those SIA share (before the expiry date of that convertible security issue) when the prevailing (then) share price consistently trade below that subscription price.

    And then SIA could be caught, theoretically in that hypothetical example, in a cash crunch of insolvency risks – UNLESS IT ISSUES NEW SHARES AT A CHEAPER PRICE, hence diluting the existing shareholder value.

    IS SIA SHARE PRICE CURRENTLY ABOVE OR BELOW the agreed convertible bond issue price?

    Maybe you can fill us in. I am NOT A SHAREHOLDER of SIA, just a curious spectator since you are so confident of SIA’s forward outlook.

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  • eh:

    @Oxygen

    As at Mar 2021, SIA Net Tangible asset per share is $5.36. While it is loss making for FY Mar 2021, this can only improve. SIA is heavily geared towards business class sales. Not only will business travellers return in the next 1 year or 2, lots of people have also gotten richer during the pandemic, meaning even for leisure travel, they will fly business class. Therefore, you need a time horizon of at least 2 years but SIA will soar.

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  • oxygen:

    @ eh

    A LOT OF TELESCOPIC DISTANT VISION there, but you are still entitled to your airy fairy speculative conjectures.

    eh: As at Mar 2021, SIA Net Tangible asset per share is $5.36. While it is loss making for FY Mar 2021, this can only improve. SIA is heavily geared towards business class sales. Not only will business travellers return in the next 1 year or 2, lots of people have also gotten richer during the pandemic, meaning even for leisure travel, they will fly business class. Therefore, you need a time horizon of at least 2 years but SIA will soar.

    BTW, NTA for any entity IS WORTHLESS MEASURE if that net assets embedded is loss-making, risking bankruptcy. SIA is trading below its NTA, that means its NTA is over-inflated of accounting valuation relative to market appraisal of true valuation at $4.70 today which could be falling further ( or rises from this point) to reflect its value erosion.

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  • oxygen:

    @ Eh

    READ THIS YET of SIA news from Reuters today?

    Singapore Airlines posts record $3.2 billion annual loss, to issue convertible bonds

    https://sg.yahoo.com/finance/news/singapore-airlines-posts-3-2-115006171.html

    IT TALKS ABOUT THE NEED TO RAISE MORE FUNDING CAPITAL from convertible bond issue- same as what I wrote yesterday.

    oxygen: I believe SIA has a convertible bond right issued to TH whereby the latter agrees to take up at a fixed price – say $X per share -at some future date.

    If SIA share share falls below $X per share, TH would be stupid to pay a premium for those SIA share (before the expiry date of that convertible security issue) when the prevailing (then) share price consistently trade below that subscription price.

    And then SIA could be caught, theoretically in that hypothetical example, in a cash crunch of insolvency risks – UNLESS IT ISSUES NEW SHARES AT A CHEAPER PRICE, hence diluting the existing shareholder value.

    IS SIA SHARE PRICE CURRENTLY ABOVE OR BELOW the agreed convertible bond issue price?

    YOUR RESPONSE WERE COMPLETELY SILENT ON THIS POINT.

    And SIA Chairman, Peter Seah said these words according to Reuter’s report.

    “This crisis is not over…..While the growing pace of vaccinations has given us hope, new waves of infections around the world mean that restrictions on international travel largely remain in place”

    This concur with my view that airlines stocks are “untouchable” risks at the moment whatever their market valuation are.

    Valuation can evaporates so fast!!

    To me, there is no such a thing as “undervalued” airline stocks and all telescopic distant vision are just airy-fairy speculative conjectures.

    DO YOU STILL NOT AGREE, @ Eh??

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  • oxygen:

    @ Eh

    THAI AIRWAYS are even in worst shape – no financial bailout from the Thai Govt in the wake of pandemic damage.

    Instead the Thai govt cut its stake in the airline and it ceased to be a State-backed enterprise.

    And now the creditors are cornered into a restructuring bailout which may or may not save this airline.

    Read this marketwatch com weblink.

    Thai Airways creditors approve reorganization plan

    https://www.marketwatch.com/story/thai-airways-creditors-approve-reorganization-plan-01621478224?mod=mw_latestnews

    The airline sector is staring at death watch – is my opinion – of disappearing passenger traffic due to the Pandemic damage to global economy and its wealth destruction.

    And it is contrary to your claims here.

    eh: Not only will business travellers return in the next 1 year or 2, lots of people have also gotten richer during the pandemic, meaning even for leisure travel, they will fly business class.

    A LOT OF PEOPLE GOT POORER is the reality.

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  • Pinky is useless anyway:

    pinky should step down and let botak tharman take over.

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  • eh:

    @Oxygen

    Thai Airways is a hopeless case. However, SIA is the best in the industry. There will be a shake out and the weaker airlines will die but SIA will come out stronger. You need to look beyond the pandemic. As at Mar 2021, SIA has a prudent balance sheet with gearing ratio below 1x. Banks are queueing up to lend money to SIA and the demand for SIA’s bonds from institutional investors remain very high. This explains why SIA is able to secure liquidity so easily. It can leverage up anytime, which will only increase its Return on Equity. The shares therefore are a leveraged play and the potential upside is immense.

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  • oxygen:

    @ eh

    YOU KNOW MORE THAN Mr. Peter Seah, SIA’s chairman?

    Peter Seah : This crisis is not over…..While the growing pace of vaccinations has given us hope, new waves of infections around the world mean that restrictions on international travel largely remain in place

    He is a lot less sanguine than your boastful airy fairy carnival jestering.

    He is in the know of sitting the hot seat.

    And you?

    No airline shares for me!

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