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Podcasts didn't decide GE2025Podcasts didn't decide GE2025 I refer to the CNA’s Commentary: Podcasts didn't decide GE2025, but they changed how Singaporeans engage with politics (May 9). The 2025 General Election has several features/characteristics that deserve our attention, discussion and reflection: In today era, technological revolution, innovation and advancement...

GE2025: Stunning victory for PAPGE2025: Stunning victory for PAP I refer to the CNA’s report, “GE2025: Stunning victory for PAP, winning 87 of 97 seats with higher national vote share in PM Wong's first electoral test” (May 4). GE2025 has clearly delivered the following key messages/notes from the vast majority of voters: The Workers’ Party (WP) has done a fantastic good...

This is not a game of cardsThis is not a game of cards I can appreciate parties wanting to hold their cards close to their chest, but the smoke and mirrors games on nominations day, the shuffling of the DPM from a seat he had openly been declared to be defending, and other ministers shuffling constituencies leaves one feeling the PAP thinks it is playing a game of cards. Constituency...

Is a Parliament full of PAP MPs really better for Singaporeans?Is a Parliament full of PAP MPs really better for Singaporeans? I refer to The Online Citizen GE2025 news report, “Lee Hsien Yang: Is a Parliament full of PAP MPs really better for Singaporeans?” - (April 14), and “The Straits Times’ report, “GE2025: Singaporeans will go to the polls on May 3, Nomination Day on April 23” (April 15), and The Online Citizen GE2025 report,...

𝐈𝐧𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐧𝐞𝐞𝐝 𝐟𝐨𝐫 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲𝐈𝐧𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐞 𝐚𝐧𝐝... Is the PAP of today exceptional, with unmatched competence and delivery? Afterall, that is their justification for the highest salaries in the world. Let’s look at its more recent track record. Large numbers of NRIC numbers were recently unmasked, leaving Singaporeans exposed to identity theft, fraud, abuse and scams....

GE2025: Red Dot United to contest in Holland-Bukit TimahGE2025: Red Dot United to contest in Holland-Bukit Timah I refer to the CNA news, “GE2025: Red Dot United to contest in Holland-Bukit Timah GRC but may make way for Singapore Democratic Party” (April 10), “More opposition 'star catches' are emerging. Is Singapore's political scene maturing?” (April 10) and “PSP says government response to Trump tariffs 'overblown',...

GE2025: Why Singapore's high-flying bureaucrats are recruited into politicsGE2025: Why Singapore's high-flying bureaucrats are recruited... I refer to CNA’s news, “GE2025: Why Singapore's high-flying bureaucrats are recruited into politics” (Mar 28). It is not surprised to notice that in recent weeks, two NMPs and top ministry officials have resigned, fuelling speculation they could be fielded as potential candidates for the ruling People's Action...

More than 2.75 million Singaporeans eligible to vote in GE2025More than 2.75 million Singaporeans eligible to vote in GE2025 I refer to The CNA’s News, “GE2025: More than 2.75 million Singaporeans eligible to vote” (Mar 25). As Singapore’s General Election is due to be held within this year, the following factors will more or less influence the election situation this year: A)The general mentality of voters Voters are generally...

How the end of Ukraine war could be secured, even with waning US supportHow the end of Ukraine war could be secured, even with waning... I refer to the CNA’s commentaries, “How the end of Ukraine war could be secured, even with waning US support” (Mar 4), “Lessons from the Trump-Zelenskyy meltdown- for friends and foes” (Mar 1) and “Will Trump tariffs push China to change economic tack?” (Mar 3). Foremost, we need to recognise the reality...

Singapore Army Recruits Deserve a Minimum WageSingapore Army Recruits Deserve a Minimum Wage Singapore Army Recruits Deserve a Minimum Wage: National Service Should Not Come at the Expense of Opportunity Costs Singapore’s National Service (NS) has long been a cornerstone of the nation’s defense, requiring young men to dedicate two years of their lives to military, civil defense, or police service. While...

Trump-Putin deal on Ukraine will be Europe’s moment of reckoningTrump-Putin deal on Ukraine will be Europe’s moment of... I refer to the CNA’s Commentaries, “Trump-Putin deal on Ukraine will be Europe’s moment of reckoning” (Feb 20) and “Ukraine can survive with the ‘least worst’ peace” (Feb 22). Now, In the eyes of European Union, they have lost trust and confidence in the United States, it is solely due to the flip flop...

From Deepseek to Huawei, US tech restrictions on China are backfiringFrom Deepseek to Huawei, US tech restrictions on China are... I refer to the CNA’s Commentary, “From Deepseek to Huawei, US tech restrictions on China are backfiring” (Jan 31). Would it be practical, useful and effective for the United States to continually pursue an aggressive containment strategy to hobble China’s tech push? Undoubtedly, the answer is obviously not. There...

Don't get distracted by Trump's outlandish Cabinet picksDon't get distracted by Trump's outlandish Cabinet picks I refer to the CNA’s Commentary: “Don't get distracted by Trump's outlandish Cabinet picks” (Nov 25), and “'No one will win a trade war’, China says after Trump tariff threat” (Nov 26). As everyone knows, U.S. President-elect Donald Trump will return to power on January 20, 2025. Trump has dismissed...

Putin escalates Ukraine warPutin escalates Ukraine war I refer to The CNA’s Commentary: “Putin escalates Ukraine war by a step, not a leap, with missile experiment” (Nov 23). Foremost, Zelenskyi’s intention to join Nato has greatly threatened the security and survival of Russia. Hence, Zelenskyy has offended Putin and Putin has no choice but to launch a war with...

Will PM Wong address the astronomical ministerial salaries?Will PM Wong address the astronomical ministerial salaries? I refer to The TR-Emeritus opinion article, “Will PM Wong address the astronomical ministerial salaries” (June 14) by Mr Yoong Siew Wah. It has always been a controversial topic which concerns about our top political leaders who receive their salaries that are many times higher than those foreign political leaders. Our...

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Editorials
Strong hailstorm strikes China's Xi'an causing airport...

Strong hailstorm strikes China's Xi'an causing airport...

On the evening of May 8, Xi’an, the capital city of China’s Shaanxi Province, was struck by a powerful...
Four parties lost their election deposits in GE2025

Four parties lost their election deposits in GE2025

A total of four opposition parties, the Singapore United Party (SUP), People's Power Party (PPP), People’s...
Level 16 super typhoon devastates multiple cities in...

Level 16 super typhoon devastates multiple cities in...

Northern China was hit by an extreme weather event on Thursday as a massive cold front swept south, colliding...
Level 15 winds destroy buildings rooftops and cause...

Level 15 winds destroy buildings rooftops and cause...

On April 30, northern China was struck by an extreme weather event as a massive cold vortex surged southward,...
TR Emeritus to 'shut-up' on 2nd May 2025

TR Emeritus to 'shut-up' on 2nd May 2025

Please be informed that TR Emeritus (TRE) will shut down its comment function site-wide at 0000 hours...
Chaos in China as extreme storm destroys homes and...

Chaos in China as extreme storm destroys homes and...

Beijing’s 22 million residents were asked to stay indoors on Saturday, as powerful winds swept across...
China, Thailand, and Myanmar in ruins after devastating...

China, Thailand, and Myanmar in ruins after devastating...

On March 28, 2025, a devastating 7.7-magnitude earthquake struck central Myanmar near Mandalay, causing...
Myanmar 7.7 earthquake collapses buildings in Thailand,...

Myanmar 7.7 earthquake collapses buildings in Thailand,...

A powerful 7.7 magnitude earthquake struck central Myanmar on March 28, 2025, causing widespread panic...
Beijing shocked by earthquake and mega sandstorm

Beijing shocked by earthquake and mega sandstorm

Since March 24, 2025, northern China has been battling extreme weather as a massive sandstorm swept through...
Mega hail causes mass destruction in Fujian and Guangdong

Mega hail causes mass destruction in Fujian and Guangdong

An unexpected and severe hailstorm struck multiple cities in Guangdong and Fujian between March 3 and...
Extreme weather struck multiple regions in China

Extreme weather struck multiple regions in China

On March 2, 2025, extreme weather struck multiple regions in China, with parts of Henan province experiencing...
Happy Chinese New Year 2025

Happy Chinese New Year 2025

Wishing all our Chinese readers:     Team@TR Emeritus  
Huge snow caused numerous disruptions on China's major...

Huge snow caused numerous disruptions on China's major...

As the Chinese New Year approaches, millions of people across the country are making their annual journey...
The rapidly spreading HMPV virus you haven’t heard...

The rapidly spreading HMPV virus you haven’t heard...

Human Metapneumovirus (HMPV) is making headlines as cases surge, especially among children and vulnerable...
4.1 magnitude earthquake shakes Shanxi's Linfeng city

4.1 magnitude earthquake shakes Shanxi's Linfeng city

On the evening of January 10, 2025, Linfen City in Shanxi Province was struck by an earthquake. The tremor,...
7.8 magnitude earthquake devastates Tibet

7.8 magnitude earthquake devastates Tibet

A magnitude 7.1 earthquake has hit Tibet, in the region of Shigatse, which is near the border with Nepal. According...
Outbreak of mystery virus in China

Outbreak of mystery virus in China

China is r eportedly facing a new health crisis as the human metapneumovirus (HMPV) outbreak rapidly...
Unknown Virus Rampages in China; Hospitals Utterly...

Unknown Virus Rampages in China; Hospitals Utterly...

A blogger in China has shared a video, claiming that this isn’t China’s Spring Festival travel rush;...
Opinions
The three of threes about DPM Heng Swee Kiat

The three of threes about DPM Heng Swee Kiat

The first part of the threes is about the when, the how and the why? And it is about his retirement...
我们是否该重新思考国防开支的优先顺序?

我们是否该重新思考国防开支的优先顺序?

新加坡政府近日宣布将采购两艘额外的“无畏级”潜艇,引发了一个重要问题:我们的国防力量,到底需要多强? 毫无疑问,一个强大且可信的军队对于保障国家主权与威慑潜在威胁是不可或缺的。新加坡地处战略要冲,国土面积有限,因此需要一支现代化的武装部队。然而,当我们对比邻国——马来西亚拥有两艘潜艇、印尼正逐步扩展至十二艘——新加坡在水下战力上已处于领先地位。这不禁让人质疑,我们是否正引领着一场无声的区域军备竞赛? 问题在于:当威慑的需求被满足后,继续扩军是否已经超出必要? 一艘“无畏级”潜艇的估价超过十亿新元,还不包括长期的运营与维护成本。这两艘新潜艇的资金,若能转用于迫切的民生需求,例如医疗保健、老龄化支援、教育及弱势群体扶助,或许对社会的整体韧性更具意义。 政府一再强调国防开支是经过审慎规划的,但当生活成本日益上升,政府却仍需将消费税(Gst)提高至9%甚至更多,这种矛盾不禁令人困惑。如果某些战略性国防项目能够延后或循序推进,节省下来的资源是否可以用于社会发展呢? “全面防卫”不仅仅是硬件实力,更是要赢得人民的心与信任。让人民感到安心、有保障、受到重视,这种安全感无法靠潜艇来衡量,而是通过每一位国人的生活实感体现出来。 这并非是在呼吁削弱我们的国防,而是呼吁我们重新思考国家的优先事项。当我们继续推进军事现代化的同时,也不要忽视同样重要的任务——巩固社会契约、增强国民凝聚力。   Cwc-Ai  
Cutting down reliance on US military equipment

Cutting down reliance on US military equipment

There is a rampant rumor going around that claims Egypt has ordered 48 J10C with a price tag of USD$25B...
2025大选—明确授权,变化中的政治格局

2025大选—明确授权,变化中的政治格局

2025年大选结果无可争议,政府再次赢得了强有力的授权,稳固了其在新加坡政治格局中的主导地位。尽管选举结果并不令人意外,但胜利的过程却并非没有争议和复杂性。 值得注意的是,选区划分的变化在本次选战中发挥了重要作用。陈清木医生与徐顺全医生等资深反对派人物,因选区重划而受到显著影响——传统支持基础被分割或并入他区,无疑左右了某些关键选区的最终结果。虽然选区调整在新加坡选举历史上并不罕见,但其公平性与透明度仍持续引发讨论。 工人党虽稳守东北区的传统堡垒,但未能在本届大选中攻下新的选区。不过,该党仍获得两个非选区议员(Ncmp)席位,虽属安慰性质,却在象征意义上维持了国会内多元声音的存在。 更值得关注的是,本届大选所处的人口背景正经历剧烈变化。新加坡人口从2000年的约300万增长至2025年的超过500万。考虑到多年来出生率持续偏低,这一增长几乎可以肯定主要归因于移民流入,尤其可能在华人群体中增长显著。这一趋势对国家的社会结构和政治生态产生了深远影响。 展望2030年大选,各政党不仅要面对一如既往的选区调整与突发的全球事件,更需正视一个不断演变的社会结构。随着越来越多新移民成为国民,选民构成日益多元,政党在政策制定与信息传递上必须更具包容性与前瞻性。他们必须同时争取老一代公民与新加坡新公民的认同,回应共同关切,并跨越代际与文化差异的鸿沟。 在新加坡持续向前迈进的过程中,其政治也必须与时俱进——反映日益多元的人口现实,同时坚守国家的核心价值观:团结、韧性与务实。 Cwc-Ai
A jaw-dropping election

A jaw-dropping election

This is a jaw-dropping election. For the opposition. SDP’s Dr Chee and PSP’s Leong were deeply disappointed....
The Nation has rejected multi-party Parliamentary representation

The Nation has rejected multi-party Parliamentary representation

Our party suffered great losses and I personally have suffered the greatest hit. But these personal losses...
A False Analogy That Insults the Intelligence of Singaporeans

A False Analogy That Insults the Intelligence of Singaporeans

Minister Ong Ye Kung’s recent assertion that a “co-driver” bears no responsibility if a car crashes...
There is a cost to losing

There is a cost to losing

There is a cost to losing. At least in PAP’s books. And one of the costs is a policy of priority. That...
Hougang Belongs to the People

Hougang Belongs to the People

Thank You for the Reminder, Mr Marshall Lim. It is with no small measure of amusement that one reads...
Its all about trust

Its all about trust

Dr Ng Eng Hen from PAP has pointed out the most important key point about this General Elections, it...
Misunderstanding What Singaporeans Truly Expect from...

Misunderstanding What Singaporeans Truly Expect from...

The government's repeated assertion that it is "easy for the opposition to ask the government to give...
Punggol GRC

Punggol GRC

Punggol GRC is without question one of the most hotly watched, followed and contested constituency in...
Should Singapore Be Concerned About David Neo’s “Action-Takers,...

Should Singapore Be Concerned About David Neo’s “Action-Takers,...

Singaporeans should pause and reflect on the recent remark by PAP candidate David Neo, who said that...
Why Singaporeans Must Reconsider the Dismissal of SDP’s...

Why Singaporeans Must Reconsider the Dismissal of SDP’s...

The Singapore government’s blunt assertion that the Singapore Democratic Party (SDP)’s proposals...
Expect the exchange of barbs in politics

Expect the exchange of barbs in politics

In a political contest, expect the exchange of barbs. And we do not lack any of it in the rallies held...
Don't Be Swayed by the Noise—Think Critically Before...

Don't Be Swayed by the Noise—Think Critically Before...

In recent weeks, the political buzz in Singapore has reached a new high. Massive crowds at opposition...
We vote whoever is deserving of our vote

We vote whoever is deserving of our vote

I am surprised that Lee Hsien Loong chose to remind us of the 1997 shameful episode when he, his father...
The Case for a Diverse and Balanced Parliament

The Case for a Diverse and Balanced Parliament

The Singapore government has recently stated that "Good government needs good people" and cautioned against...
Letters
Podcasts didn't decide GE2025

Podcasts didn't decide GE2025

I refer to the CNA’s Commentary: Podcasts didn't decide GE2025, but they changed how Singaporeans engage...
GE2025: Stunning victory for PAP

GE2025: Stunning victory for PAP

I refer to the CNA’s report, “GE2025: Stunning victory for PAP, winning 87 of 97 seats with higher...
Is a Parliament full of PAP MPs really better for Singaporeans?

Is a Parliament full of PAP MPs really better for Singaporeans?

I refer to The Online Citizen GE2025 news report, “Lee Hsien Yang: Is a Parliament full of PAP MPs...
GE2025: Red Dot United to contest in Holland-Bukit...

GE2025: Red Dot United to contest in Holland-Bukit...

I refer to the CNA news, “GE2025: Red Dot United to contest in Holland-Bukit Timah GRC but may make...
GE2025: Why Singapore's high-flying bureaucrats are...

GE2025: Why Singapore's high-flying bureaucrats are...

I refer to CNA’s news, “GE2025: Why Singapore's high-flying bureaucrats are recruited into politics”...
More than 2.75 million Singaporeans eligible to vote...

More than 2.75 million Singaporeans eligible to vote...

I refer to The CNA’s News, “GE2025: More than 2.75 million Singaporeans eligible to vote” (Mar...
How the end of Ukraine war could be secured, even with...

How the end of Ukraine war could be secured, even with...

I refer to the CNA’s commentaries, “How the end of Ukraine war could be secured, even with waning...
Singapore Army Recruits Deserve a Minimum Wage

Singapore Army Recruits Deserve a Minimum Wage

Singapore Army Recruits Deserve a Minimum Wage: National Service Should Not Come at the Expense of Opportunity...
Snippets
Singapore’s Sports Industry: A Rising Powerhouse...

Singapore’s Sports Industry: A Rising Powerhouse...

Singapore’s sports industry is on the cusp of greatness, leveraging cutting-edge infrastructure and...
What are the most popular hobbies in Singapore in 2025?

What are the most popular hobbies in Singapore in 2025?

As work-life balance remains a constant talking point in the fast-paced city-state of Singapore, residents...
10 Most Popular Mobile Games in Singapore

10 Most Popular Mobile Games in Singapore

Singaporeans can't get enough of their phones these days, spending tons of time battling opponents, building...
Langkawi to Koh Lipe Ferry: Complete Travel Guide

Langkawi to Koh Lipe Ferry: Complete Travel Guide

Planning a tropical escape from Malaysia to Thailand? The journey from Langkawi to Koh Lipe offers a...
This is not a game of cards

This is not a game of cards

I can appreciate parties wanting to hold their cards close to their chest, but the smoke and mirrors...
𝐈𝐧𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐞 𝐚𝐧𝐝...

𝐈𝐧𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐞 𝐚𝐧𝐝...

Is the PAP of today exceptional, with unmatched competence and delivery? Afterall, that is their justification...
The sleep science revolution in elite sports

The sleep science revolution in elite sports

Professional sports have entered a new era where recovery science directly impacts performance outcomes....
Sports Betting in Online Casinos as a Way to Improve...

Sports Betting in Online Casinos as a Way to Improve...

In today's world, online sports betting has become not only a popular form of entertainment but also...
Sticky & Recent Articles

乒总总裁周树声 三个月后正式离职 另一理事也将离职

乒总总裁周树声 三个月后正式离职 另一理事也将离职

吴秀金   我国国家乒乓球队前总教练刘国栋要求乒总对诋毁他人格作出澄清和道歉的事情还未解决,总会日前又传出总裁周树声和一名身份不详的理事会要员将要离职的消息。   据了解,周树声在去年10月出任乒总总裁,但表现无法达到总会的要求,因此在本月较早时递交辞呈,三个月后将正式离职,而乒总也已在较早时刊登征聘启事,填补空缺。   周树声 (Chew Soon Sheng) 是新加坡亚洲青年运动会组委会委任的10名赛场经理之一,他将负责大巴窑室内体育馆,确保在那里举行的乒乓球项目顺利完成。首届亚青运将于6月29日至7月7日举行。   有消息指出,已通过面试的乒总前总经理黄惠玲(38岁)是新总裁热门人选,但她目前仍受聘于青奥运组委会,相信因此不便受访证实这项消息。她曾任职榜鹅南选区秘书处高级经理,2000年担任乒总总经理,2005年任职新加坡羽毛球总会财务经理,去年加入青奥运组委会。   乒总去年才增设总裁职位,首任总裁是取代黄惠玲的前总经理郑杰奇,第二任总裁是周树声。   据了解,也将离职的理事会要员身份不详,在乒总的角色属于志愿性质,而他已缺席之前几个理事会议,并对总会的方针不表认同。   由于乒总秘书长孙敏慎和周树声之前曾代表乒总与刘国栋进行两次会谈,因此有报道猜测即将离开总会的就是这两人。不过,孙敏慎已否认离职的说法,而且表示乒总将在今天针对此事发出文告。另外据报道,针对周树声是被令离职或自动辞职的说法,乒总会长李美花表示“这样的揣测是不确实的”。   有消息指出,可能离职的乒总理事会要员是副会长级人物。乒总目前有四名副会长,他们是刘志成、张福和、韩毅元和刘必泰。周树声原本也是其中一位副会长,但他在受聘为总裁后已卸任。   此外,乒总将在今晚举行执委会议和理事会议,预料内容将与刘国栋风波有关。 刘国栋因不满乒总以他品性有问题为理由,不提名他角逐2008年最佳教练奖,所以在两个星期前匆忙从中国回返新加坡,准备与李美花(宏茂桥集选区议员)对质。不过,两人在刘国栋逗留新加坡的五天内都没有碰面,刘国栋后来还因为不满乒总草拟的英文联合声明,表示考虑提出法律诉讼。   询及乒总因不提名刘国栋角逐最佳教练奖而引发的纷争,国务资政吴作栋昨天参加芽笼士乃区基层组织所举办的跑步及快步走活动后接受记者访问时表示,他虽未过问这起事件,不清楚当中的来龙去脉,但从他所读到的相关报道,他认为整起事件的处理有欠妥当。   至截稿为止,本报都无法联络上李美花及乒总多名理事会要员。   现为宁波北仑海天俱乐部主教练的刘国栋虽在上周回到中国带队参加中国超级联赛,但他表示还会回到新加坡,要求乒总还他清白。他目前也是中国印尼国家队总教练兼技术顾问。 乒总前会长杨木光: 最终会有圆满结果   对于刘国栋上周来到本地要求乒总澄清,却未得到满意交代这起事件,乒总前会长杨木光认为这事件最终还是会有个圆满的结果。   杨木光昨晚在韭菜芭城隍庙附属的“武当城隍道教养生院”成立庆祝晚宴上发表了对这起事件的看法。   曾经在1998年至2002年担任新加坡乒乓总会会长的杨木光说,乒总建立至今这么多年来,有个稳健与有效的系统。无论接下来事件发展如何,他深信还是会有个圆满的结果。虽然这事件会对本地乒坛带来一定的负面冲击,但乒总多年来建立的体系,始终会有个完善的平台,让乒乓爱好者发挥所长。 Source: Zaobao.com  Read More →

新加坡的教训:高价买入,低价卖出

新加坡的教训:高价买入,低价卖出

高贵的血统并不是财政管理的资格 Original article published on 20 May 2009 by Asia Sentinel HERE 何贞身为淡马锡控股(Temasek Holdings) 的主管,继续瑕疵毕露地管理着公众委托她的亿万元储款直到她最后离任为止。 她的接任人Chip Goodyear,以前任职BHP,在3月上任”选定主管”(CEO-designate)之职,并将在10月正式接任主管。 但据推测,李显龙总理的夫人何贞做出决定全盘出售宠大数量的美国银行(BoA)股份,这项投资最初为入股 Merrill Lynch,但它在去年被美国银行所接管免受破产之灾。 她现在设法全部售光BoA而正在美国金融股价看似低迷的时段,至少以过去6个月的看法是如此。这次销售在3月底前完成,据推测发生在月底前数个星期。从三月底以来,美国银行股票价格已经上升了66%。 淡马锡单独在美国银行的损失估计为四十六亿美元(US$4.6billion) 左右,或者每一个新加坡公民损失大约一千美元(US$1,000)。它其余大多数的金融证券例如瑞士的UBS和英国的Barclays也遭受了巨大的损失。 更加不太透明的政府投资公司(Government Investment Corporation) 遭受了其他巨大的损失,在2007年它投资了UBS一百一十亿(11 billion)瑞士法郎(Swiss francs)并且在2008年一次增股计划(rights issues)中增持了更多股权。在纽约市场UBS股价从2007年的US$60,陷落至现时的US$13,其间曾下降至US$7。 当淡马锡出售美国银行时,政府投资公司是否也出售了UBS ?或者办事处位于新加坡总统的前住所的UBS,在新加坡的存在实在太有用了,因为它从缅甸的将军和新加坡的其他朋友带来了重重商机? 渴望脱离华尔街(Wall Street)的黑洞是可以理解的,但全盘出售美国银行似乎是淡马锡跟随人群的思路(follow-the-crowd mentality)的再一次表现。 并且人们会怀疑它将来是否不会如此历史重演呢。 Goodyear获得名望是由于他的八年掌舵BHP期间,它的市场资本值(capitalization)从一百二十亿美元(US$12 billion)增加至二千亿美元(US$200 billion)和股票价格上升了四倍。 然而,此名望多数是运气:40年来最大的矿产价格高涨,并且BHP以越来越高价收购其他公司。 如果Rio Tinto接受了在他离任后但仍获他支持的BHP在市场顶端出价的收购建议,Goodyear如今的声誉将会非常不一样。 反而Rio Tinto那自我疯狂的主管拒绝了BHP的建议,但由于Rio Tinto本身负担着巨大的债务,它所以要到中国乞求援助。 因为他熟识矿产资源,同时新加坡也染上了中国经济增长的热潮,Goodyear是否将带领淡马锡投资矿产资源呢?矿产品的价格肯定比一年前下降了很多。 但矿产品也有颇长的经济周期。 根据Bloomberg引述的淡马锡执行人员所言,现在淡马锡最新的投资焦点越来越被中国的经济和它的消费者所吸引,因此淡马锡不妨投资更多在中国的银行。 因此淡马锡再跟随潮流,重新聚焦在亚洲,正当亚洲市场在一段时期之后已经恢复过来,而它以前喜爱的西方市场侧仍然疲弱。淡马锡似乎仍然认为中国的银行可以作为中国的经济和消费者的一个好代表者(proxy)。正如东南亚在90年代一样,中国的经济可能迅速地增长,但由于中国政府指挥的借贷可能引致中国的银行仍然负有重债。 可肯定地说,开发中的亚洲看似比起西方是更好的长期打赌,但在今天才发现这现象并不显视淡马锡具有领先同行的本领。 因为公报的数据不足和没有合并汇报(unconsolidated),淡马锡表现得如何低劣是很难推测的。 例如,在2007-08年它全盘投资(portfolio) 的价值增加了13%升至一千八百五十亿新元(S$185billion),但其中政府注入了多少资本是无法确定的。 也有象Astrea辅属公司一样的黑洞,Astrea在最初的十年借用了八亿一千万美元(US$810million) 去投资在私有产权(private equity)和出资购买基金(buyout funds)。如果再来一次像华尔街一样的市场下滑,新加坡人的退休金将可能反影出这样低迷市场带来的后果。 与此同时,淡马锡在国内的投资己不断地收缩了而且减少至它现有全盘资产(portfolio)的33%。 当然投资在发展更快的国家而不在低成长的新加坡也许更有道理的,淡马锡在国内已经控制了这么多公司,因而没有新的国内投资机会了。 然而某些股权出售,例如2008年12月以三十八亿新元(S$3.8billion) 出售PowerSeraya给马来西亚的YTL,很难不被外界视为淡马锡也许有意从长期持有的国内资产中搾取一些随手可得的资产利润(capital profits)。 何贞似乎擅于接受那些有合适学位的聪明人,他们一方面持有数学模型和一另方面具有动听的专科术语(jargon),他们便被认为比其他人对投资更有心得。 因而在金融服务业兴旺的时期,淡马锡跟随了人群的思路,扩大了它全盘投资(portfolio)中的金融部分提高至40%,其中大多数投资在惹人注目的西方金融机构,而这些机构是何贞的Wharton工商学院受教育的顾问团所喜爱的。 就象典型的新加坡资深官僚主义者一样,纸上资格(paper qualifications)似乎比经营业务的实际经验还更被看重。这些人管理的企业主要是新加坡国家经营的公司,它们被保护而免受自由竞争。在低价的航运业时代,马来西亚人Tony Fernandes早期开办了AirAsia和逐渐打破了运费企业联盟(fare cartel),甚而新加坡航空公司亦开始看起来精疲力竭了。 拨开其他事不谈,淡马锡的过往纪录拆穿了新加坡统治阶级所传播的概念之不智:这概念认为他们是人民储款的最佳监护人。 家长作风己经变为傲慢,由于政府帐目的本质不透明,和淡马锡提供了非常片面的揭露,新加坡人要负担的全部费用暂时仍然是个秘密。 新加坡人一起扣紧您们的钱包吧!  Read More →

Petition to DPM Teo Chee Hean to give a special award to Liu Guodong in recognition of his achievements

Petition to DPM Teo Chee Hean to give a special award to Liu Guodong in recognition of his achievements

EDITORS' NOTE: We will send the petition to DPM Teo Chee Hean in 2 weeks' time. Please click on the link below to sign it: http://www.gopetition.com/online/28011.html A petition drive will be held on 6 June 2009 (Saturday), 5pm at Hong Lim Park. We will try to bring Liu Guodong to grace the event if he happens to be in Singapore. Details will be revealed later.   Deputy Prime Minister & Defence Minister, Republic of Singapore President, Singapore National Olympic Council Mr Teo Chee Hean   Dear Sir, RE: PETITION TO REQUEST SNOC TO GIVE A SPECIAL AWARD TO LIU GUODONG   We are signing this petition to request Singapore National Olympic Council to give a special award to the ex-coach of the Singapore Table-Tennis Team Mr Liu Guodong in recognition of his achievement in winning a silver medal for Singapore during the Beijing Olympics in 2008. An Olympic medal is the pinnacle of all sporting achievements and is the most prestigious award that all sportsmen and women can dream of. Some spent their entire lives aiming to win a medal at the Olympics held every four years. The importance, fame and pride attached to an Olympic medal is why winning athletes and coaches are accorded the highest accolade, honor and rewards everywhere in the world. Unfortunately in Singapore which prides itself on meritocracy, an Olympic medal winning coach does not even qualified to be nominated for the "Coach of the Year" award which devalues the medal and make a mockery out of the award given out yearly by SNOC. We feel strongly that Mr Liu Guodong is the only coach who deserves the "Coach of the Year" award for 2009. By not giving out the award this year, SNOC has indicated that it also share the same views as us. The winner of last year award is Mr Radojko Avramovic and the year before, Mr Zhang Yong Qiang. With due respect to them, none of them won an Olympic medal before. In fact, none of the coaches who won the award since it was inaugurated in 1970 had ever won a medal in the Olympics games. Singapore has spent millions of dollars on its Foreign Sports Talent Scheme is a scheme used by sports officials and organisations in Singapore to scout, identity and facilitate the migration of non-Singaporeans deemed to possess sports talent to play in Singapore colours in sporting events. The aim of this scheme is to win medals for Singapore and Mr Liu has achieved this remarkable feat by leading the Singapore Table Tennis team to win a first Olympic silver medal for Singapore as an independent nation. If winning an Olympic medal does not qualify a coach to win the "Coach of the year" award, what message will we be sending to other foreign coaches who are interested to offer their services in Singapore? Will the best coaches in the world be attracted here knowing that his performance will not be judged by the results he achieved in the sports? Mr Liu Guodong was appointed coach of the Singapore Table Tennis team in 2006. He worked hard to bring the team up the international rankings which culminated in an Olympic medal. Feng Tianwei, who played a pivotal role in Singapore's victory over South Korea in the semi-finals of the Beijing Olympics, was talent spotted by Mr Liu while playing in the Japan professional league in 2006. All these occurred before Ms Lee Bee Wah took over as STTA President in 2008 3 weeks before the team's departure for Beijing. Without Mr Liu's stewardship, it is unlikely that Singapore will win a medal in the Beijing Olympics. We should express our gratitude and appreciation for his efforts by giving him the coveted "Coach of the year" award. Since STTA has refused to nominate Mr Liu for the award and SNOC has decided to not to give the award to another less deserving coach, we would like to request SNOC to give a special award to Mr Liu instead. The SNOC Special Award is only given on two occasions in 2004 to the National Water Polo Teams from 1965 to 2003 for maintaining a 40 year winning streak in the SEA games and in 2005 to swimmer Joscelin Yeo for winning 9 gold medals in the SEA games since 1993. Mr Liu Guodong had won Singapore numerous medals during his tenure as coach of the Table Tennis team. Based on these achievements, he truly deserves a special award from SNOC. We implore SNOC to show the world that Singaporeans are appreciative, gracious and magnanimous enough to recognize the immense contributions of ex-coach Liu Guodong even after he has left the team. For your kind consideration, please.   A group of concerned Singaporeans    Read More →

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