The Enormous True Size of the Reserves
During the Budget Debate on Friday 26 February Heng was asked about using the proceeds from land sales in the Budget. His answer was deliberately disingenuous: “The current approach of spending the land sales proceeds through the NIRC (Net Investment Returns Contribution) avoids these pitfalls, and allows the Government to...
Don’t Believe the State Media When They Say There’s Internal Conflict in Reform Party
Andy Zhu (left) The Straits Times published an article entitled “Former Reform Party chairman Andy Zhu and others form new political party, Singapore United Party” at the end of which they said, “ they had reached out to [me] for comment’. This is yet another example of the tricks perpetrated by the state media in their...
Classic case of socializing cost and privatizing profits
Click to enlarge The test kit is developed by A*star and DSO using taxpayers money. However, it is being sold by Advanced Medtech Pte Ltd, a wholly owned subsidiary of Temasek. The costly and speculative part of developing the product is borne by taxpayers while the profits is reaped by a private company. Classic case of socializing...
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