IS The GIC Jumping Through Too Many Hoops?

Source: TR EMERITUS

IS THE GIC JUMPING THROUGH TOO MANY HOOPS?
Post date: 2 Aug 2014 - 12:40pm



The GIC released its annual report today. The Straits Times reported that, “Various layers of checks and balances are built into the governance of GIC”. Let’s take a look at how these checks and balances work and whether they are enough.

In the GIC’s annual report, it is stated that:



So, this is the GIC’s Board:



And this is the government, which apparently “neither directs nor influences the GIC’s decisions”, but which happens to be on the GIC’s Board:





So, apparently, “Once a year, the GIC Management formally meets the Minister for Finance”:



And this is the Minister of Finance, who happens to also be on the GIC’s Board:



The GIC also says that:


And that:


So, this is Singapore’s President Tony Tan:



Who actually used to be the Deputy Prime Minister of Singapore, under the banner of the People’s Action Party:



And in spite of how the President “must not be a member of any political party”, the current Singapore President Tony Tan used to be the Chairman of the People’s Action Party:



In fact, he was even once the Deputy Chairman of the GIC!, whom he is supposed to check on now:



So, the GIC might say that:



But once, when a certain President Ong Teng Cheong had the integrity to question the government about the reserves in 1996, they told him:



And so, this is what the GIC say they stand for:



So, here you go, your checks and balances in the GIC, which by the way, uses Singaporeans’ CPF to invest but is now a private limited company and does not need to fully report to Singaporeans.

Is this enough? Any conflict of interests?

As Teo Chee Hean had once infamously said, “What do you think?”

3rd Edition Of The #ReturnOurCPF Event: Why Singaporeans Cannot Retire Because Of The HDB

On 23 August, there will be a third edition of the #ReturnOurCPF event. In the first edition on June 7, we revealed to you the truths that the government has finally admitted to how they are using our CPF to invest in the GIC. In the second edition on 12 July, we exposed further truths about the exact number of Singaporeans who were not able to meet the CPF Minimum Sum.

Join us at the third edition and take a stand. The government cannot take Singaporeans’ CPF to invest and not be fully accountable with us on what they are using our CPF for.

On 23 August, we will see you at Hong Lim Park. Let’s come together, be united and speak for change, for the better for our lives, and our children’s.

You can join the Facebook event page here.

Also, my first court case will be held on 18 September 2014, at 10.00am. It will be a full-day hearing.





Roy Ngerng

*The writer blogs at http://thehearttruths.com/

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Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.
BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.
Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.
Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.

PAP is finished.
The stinking glue and terror that hold PAP together is that old fart smear of shit on sole of shoe LKY. LKY is about to die in days or weeks.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP. Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.
None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.
They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.


WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS
WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN
WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.
AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.

Bad clowns like to jump through many hoops to cover their lack of competence mah.
It is just like retail stock market players - go into as many counters as possible to play the law of averages.
Good players focus on one or two big baggies.

Local talents is a scarce resource in Singapore. That is why we need to make sure they are well utilized and rewarded so that they may contribute more actively to our success.