Serious Mindef is also an Investment Fund Manager!

This cuntry is resembling the end days of Qing Dynasty where a female gambler run smoke in the throne while the administration/military are busy filling their own bank accounts as well as the police who is useful only for crushing rebellious peasants.


Quote:
Last January, Mindef invested S$50.26 million in a United States Real Estate Investment Trust exchange-traded fund (US REIT ETF) without proper approval and evaluation by the SAVER-Premium Fund’s Board of Trustees. The ministry only sought approval from the then Director of Defence Finance

$$$$$$$$$$$$$$$$

• It also appointed an investment manager without the Board’s approval.

• Evaluation of the US REIT ETF was not adequate, and complete information on the investment costs was not presented when seeking the director’s approval.

• Mindef said no approval for the investment was sought from the Board because it was deemed a transitional investment consistent with the Board’s approved strategic asset alocation. This was pending the appointment of two Board-approved fund managers for investments of S$25 million each in Global REITS and US REITS.

• However, the AGO noted that Board’s approval was only for the aforementioned S$25 million investments.ast January, Mindef invested S$50.26 million in a United States Real Estate Investment Trust exchange-traded fund (US REIT ETF) without proper approval and evaluation by the SAVER-Premium Fund’s Board of Trustees. The ministry only sought approval from the then Director of Defence Finance.

• It also appointed an investment manager without the Board’s approval.

• Evaluation of the US REIT ETF was not adequate, and complete information on the investment costs was not presented when seeking the director’s approval.

• Mindef said no approval for the investment was sought from the Board because it was deemed a transitional investment consistent with the Board’s approved strategic asset alocation. This was pending the appointment of two Board-approved fund managers for investments of S$25 million each in Global REITS and US REITS.

• However, the AGO noted that Board’s approval was only for the aforementioned S$25 million investments.

im also invested in a US reit index called IYR,Reits are doing fantastic both in US and in SG historically,man i love reits.their returns are almost as high as equities and pretty fucking consistent except for the 2008 crash.sg reits return on average 6 to 8 percent,US reits return nearly 9 percent a year even accounting for the 2008 crash,phenomenal growth in the couple years.reits are actually less volatile than stocks cause of the hard underlying value of properties.more than 50 percent of my portfolio is in Reits which is kinda crazy allocation but who cares?

Kar gi lang.....kar chng, ang, ang!..ha ha ha ha

SAF is unsustainable and sucking a huge chunk of taxpayers wealth from the nation,do u know how much assets it takes to generate 14 billion a year?at least 280 billion,u need a fund bigger than temasek holdings.it takes an entire country just to feed this monstrosity of a burden of government leeches.SAF better wake the fuck up and start figuring out how to become useful and economically viable.....i dont care if they have to become mercenary armies and go fight wars in iraq.blackwaters is a billion dollar private outfit that makes hundreds of millions of contracts from the USA.

frenchbriefs said:

im also invested in a US reit index called IYR,Reits are doing fantastic both in US and in SG historically,man i love reits.their returns are almost as high as equities and pretty fucking consistent except for the 2008 crash.sg reits return on average 6 to 8 percent,US reits return nearly 9 percent a year even accounting for the 2008 crash,phenomenal growth in the couple years.reits are actually less volatile than stocks cause of the hard underlying value of properties.more than 50 percent of my portfolio is in Reits which is kinda crazy allocation but who cares?

Click to expand...

that's very good foresight! US property after lehman in 2008 is growing, very high potential.

Minded should open up their naval force as offshore gambling dens with the navy regulars retrained as casino Staff. Definitely a money spinner!

Pinkieslut said:

Minded should open up their naval force as offshore gambling dens with the navy regulars retrained as casino Staff. Definitely a money spinner!

Click to expand...

yes if NSF can be used to perform mundane task like packing goodie bags and patroling mrts i dont see why our frigates and corvettes cannot be converted into cruise ships and floating casinos.

dont understand the purpose of SAF other than to feed its crony companies billions and billions of dollars.ST engineering for example,singapore engineering is a piece of shit yet st engineering manage to generate a consistent profit since 2004 and a consistent dividend of 5 percent ever since.how is that possible?its like a gold mine producing a steady stream of income.as long as SAF exist,ST engineering will never be out of business.

A good example of what's wrong with making money

Reminds me of when SBS was busy becoming a property developer developing that property at 6th mile.

Aiyo! Might just as well privatize Mindef and list on SGX. Go make your money by training your private armies, navies, airforces and become assassins for a wage.

I don't mind transferring all of Mindef's assets to Temasick Holdings if you would just stop your conscription nonsense on sinkies.

billions in the budget are too much money to sit idle, even for a day. might as well invest the idle billions for short term gain. mindef will need a savvy investment team - more jobs for sinkies. :p

kryonlight said:

Aiyo! Might just as well privatize Mindef and list on SGX. Go make your money by training your private armies, navies, airforces and become assassins for a wage.

I don't mind transferring all of Mindef's assets to Temasick Holdings if you would just stop your conscription nonsense on sinkies.

Click to expand...

yes singapore is a globalized city already,Singapore belongs to "everyone" stop asking Sinkies to defend it.we have as much stake and ownership in this country as a slave have over his life and freedom.

Another example of a screw-up PAP government.

Mindef investing money from its budget is a first in the world. Who is the beneficiary of the investment?

Why is the money released to Mindef in the first place? The Finance Minister should be answering that question in Parliament if the Opposition knows how to perform its role of holding the government accountable

If saf secretly invest 1 or 2 billion of its budget every year into a investment portfolio,after ten or twenty years of 8 percent returns it will have a wealth fund of approximately 40 to 80 billion,generating enough passive income to be self sustainable,then it no longer need to depend on pap or taxpayers and can execute a coup de etat and declare martial law.

frenchbriefs said:

If saf secretly invest 1 or 2 billion of its budget every year into a investment portfolio,after ten or twenty years of 8 percent returns it will have a wealth fund of approximately 40 to 80 billion,generating enough passive income to be self sustainable,then it no longer need to depend on pap or taxpayers and can execute a coup de etat and declare martial law.

Click to expand...

There are so many skeletons in the PAP Government closet that we do not know.
Can the Opposition frame a narrative to have the people demand accountability?
The defence minister should be held accountable for starting a slush fund in MINDEF.

frenchbriefs said:

If saf secretly invest 1 or 2 billion of its budget every year into a investment portfolio,after ten or twenty years of 8 percent returns it will have a wealth fund of approximately 40 to 80 billion,generating enough passive income to be self sustainable,then it no longer need to depend on pap or taxpayers and can execute a coup de etat and declare martial law.

Click to expand...

But if the generals do that, who will manage the GLCs and be ministars?

frenchbriefs said:

If saf secretly invest 1 or 2 billion of its budget every year into a investment portfolio,after ten or twenty years of 8 percent returns it will have a wealth fund of approximately 40 to 80 billion,generating enough passive income to be self sustainable,then it no longer need to depend on pap or taxpayers and can execute a coup de etat and declare martial law.

Click to expand...

that's provided global economy is good, with these thick headed saf soldiers in charge, i will not be surprised if they lose them all.

Wa lao eh. They can't even invest properly, no wonder Dominique Lee died due to such mismanagement.

winnipegjets said:

Another example of a screw-up PAP government.

Mindef investing money from its budget is a first in the world. Who is the beneficiary of the investment?

Why is the money released to Mindef in the first place? The Finance Minister should be answering that question in Parliament if the Opposition knows how to perform its role of holding the government accountable

Click to expand...

wp seems to be lacking such fire power, they maciam like mice just walking thru scripts, quite disappointed. if only csj in parliament, that will be different story.

Interesting to know who did they appoint as their FUN Manager?