BEST PAID But MOST FARK PERFORMANCE. Go Figure!

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published February 27, 2009

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>That shrinking feeling gets more acute
Q4 contraction of 4.2% is worse than expected; services sector badly hit

By CHEW XIANG
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20> </TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20> </TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20> </TD><TD>Feedback</TD></TR></TBODY></TABLE>
(SINGAPORE) Singapore's economy shrank 4.2 per cent in the fourth quarter, worse than the 3.7 per cent decline estimated last month, as financial services performed even more poorly than expected.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD> </TD></TR><TR class=caption><TD></TD></TR></TBODY></TABLE>The Ministry of Trade and Industry in its annual economic survey released yesterday said that the financial sector contracted 8.1 per cent, substantially worse than the 1.8 per cent drop forecast in January, on the back of significant declines in trading activities in foreign exchange and stock brokerage, fund management and Asian Currency Units.
On the whole, services producing industries were down 1.3 per cent in the quarter, substantially below the MTI's previous estimate of a 0.1 per cent fall. Services make up roughly 60 per cent of Singapore's $257 billion economy.
Manufacturing - a quarter of the economy - contracted by 10.7 per cent in the three months to December, in line with earlier government estimates.
'The manufacturing weakness story is well known, but the main thing is the speed and severity with which the services sector rolled over,' said OCBC economist Selena Ling. 'When two of your engines fall off, you can't see the economy flying at all.'

<TABLE cellSpacing=0 cellPadding=5 width=120 align=left border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=4 width=200 align=left border=0><TBODY><TR bgColor=#4e6e78><TD colSpan=2 height=8>[FONT=Verdana, Arial, Helvetica, sans-serif]Related link: </TD></TR><TR bgColor=#d5e9f1><TD>

</TD><TD>[FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-2]Click here for MTI press release[/SIZE][/FONT]</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>The only pleasant surprise came from the construction sector, which increased by 18.5 per cent in the quarter, up from the 14.1 per cent previously estimated.
On a seasonally adjusted annualised quarter-on- quarter basis, Q4 gross domestic product (GDP) declined by 16.4 per cent, the sharpest drop on record. Full year GDP growth came in at 1.1 per cent, marginally below the 1.2 per cent estimated by the MTI in January and sharply lower than the 7.8 per cent growth recorded in 2007.
Manufacturing was down 4.1 per cent for the year, but construction gained 20.3 per cent and services 4.7 per cent, driven by strong growth in the first three quarters of the year.
'Broadly speaking, 2008 was a year to forget,' said Standard Chartered economist Alvin Liew. 'The data revision was minimal. It was already bad but it got a little bit worse,' he said.
DBS Bank, in a note, said 'the minor revision to last year's GDP growth figures has not changed our view on the economy and hence we maintain our 2009 GDP growth forecast at -4.8 per cent.' It had cut its estimates from -3.8 per cent only on Wednesday.
But the latest estimates prompted OCBC to cut its 2009 full year forecast, from -2.8 per cent to -4.8 per cent. 'Frankly, we don't see any light at the end of the tunnel for financial services. It will be the main drag on services,' said Ms Ling. 'And we think consumption will fall off the cliff once we get the retrenchment numbers.'
Stanchart's Mr Liew noted that much of the fall-off in total demand was due to a 9.6 per cent drop in external demand in the fourth quarter. Private consumption expenditure and private sector investment fell by 1.2 per cent and 13 per cent respectively.
'The recovery process - if we see any at all - needs to come from the external sector. If that doesn't recover, we are looking at a very protracted downturn,' he said. Non-oil domestic exports fell 17.8 per cent in the fourth quarter, while total exports were down 12 per cent.
The decrease was sharp over almost all of Singapore's main export markets, with only Indonesia recording a minor increase.
For the whole of 2008, inflation as measured by the consumer price index (CPI) rose 6.5 per cent, compared to 2.1 per cent in 2007, on the back of price increases in housing, food and transport and communications.
The seaonally adjusted overall unemployment rate rose to 2.6 per cent in December 2008 from 2.2 per cent in September 2008 and the decade low of 1.7 per cent a year ago, MTI said.
But labour productivity fell for the second year running, to -7.8 per cent in 2008 from -0.8 per cent in 2007.
OCBC's Ms Ling said unemployment could rise a quarter of a percentage point for every percentage point fall in headline GDP. 'We expect 4 per cent unemployment (from 2.3 per cent in 2008) by the end of the year,' she said.
On Wednesday, DBS said 99,000 jobs could be lost while unemployment may peak at 5 per cent in mid-2010.
Jan electronics output short-circuited, Page 4
More reports, Page 11 [/FONT]
</TD></TR></TBODY></TABLE>

 

[depeche]

Even thought i don't believed much of their stats but to see it been reported just made me feel that the actual situation would be worse than expected...

 

[Cestbon]

Even thought i don't believed much of their stats but to see it been reported just made me feel that the actual situation would be worse than expected...

Whatever reported by Mediacock and SPH are edited before make it in NEWS. You are right actual figure should be worst.

They are many question many peasant want to ask PAP/gov.
1. Why do we need to pay so much to all Minister?
2. Why do we need so many MP?
3. Why do we need NS?
4. Why so many FT in service industry( many don't mind if FT work in construction/industrial)?
5. Why need to pay so higher GST?
6. Why need to pay TV license(many country already scrap)?
7. Why do we need President( do nothing/no contribution)?
8. Why pigeon hole so expensive( cost average 4rm $50K without land cost)?
9. Why education/medical fee so expensive?
10. Why ???????

 

[funglung]

Whatever reported by Mediacock and SPH are edited before make it in NEWS. You are right actual figure should be worst.

They are many question many peasant want to ask PAP/gov.
1. Why do we need to pay so much to all Minister?
2. Why do we need so many MP?
3. Why do we need NS?
4. Why so many FT in service industry( many don't mind if FT work in construction/industrial)?
5. Why need to pay so higher GST?
6. Why need to pay TV license(many country already scrap)?
7. Why do we need President( do nothing/no contribution)?
8. Why pigeon hole so expensive( cost average 4rm $50K without land cost)?
9. Why education/medical fee so expensive?
10. Why ???????

WHAT FUCK QUESTIONS DO YOU NEED TO ASK?

YOU EXPECT ANY HONEST AND TRUE ANSWERS FROM LKY AND HIS BASTARDS IN WHITE?

LIKE YOU DO NOT KNOW?



LEE KUAN YEW LOST AND LOST DUNNO HOW MANY BILLIONS IN TEMASICK AND GIC

EVEN MORE BILLIONS HE THREW AWAY TO HIS DOGS AND COCKROACHES SO THEY CAN TAKE FRENCH COOKING LESSONS

LKY NEED MORE BILLIONS FROM SINKIES WHO VOTED FOR HIM AND FROM THOSE WHO VOIDED THEIR VOTES

EVEN IF YOU VOTE AGAINST HIM, NO DIFFERENCE.

COLLECTIVE PUNISHMENT AS SINKIES DID NOT TRY HARD ENOUGH TO KICK OUT THAT VAMPIRE BASTARD LKY

SO EXPECT EVERYTHING IN SINGAPORE TO GO UP AND UP

BASTARD LKY NEED YOUR $$$$$

HE SCREW YOU AND DEMAND THAT YOU THANK HIM FOR HIS FUCKING 'SUBISIDIESD BULLSHIT' AND 'AFFORDABLE' CON-TALK.

GO ALL OUT TO KICK ALL THOSE BASTARDS OUT

ALL OF THEM

DO NOT WAIT UNTIL ELECTION TIME
THE TIME TO ACT IS NOW!

TALK TO YOUR FRIENDS AND YOUR RELATIVES.

SUPPORT OPPOSITION PARTIES WITH YOUR TIME AND MONEY AND STAND BY THEM AND WITH THEM.

THEY SPEAK FOR YOU AND TRY TO SPEAK FOR YOU.

NOT LKY AND HIS BASTARDS IN WHITE WHO ONLY WANT YOUR MONEY AND TO FUCK YOU.


IF NOT FOR YOURSELF, THEN FOR THE FUTURE OF YOUR CHILDREN

THERE WILL NOT BE AN OBAMA AS PRESIDENT OF USA IF THE CIVIL RIGHTS MOVEMENT THERE WAS INTIMIDATED BY BEATINGS AND LYNCHINGS IN THE PAST.


THE TOBBLING OF LKY WILL NOT BE EASY, AND CAN BE BLOODY AS WELL.
THEY WILL NOT GIVE UP THE BILLIONS THAT THEY SUCKED FROM YOU AND CAN CONTINUE TO SCREW FROM YOU NOW AND IN FUTURE.


ONLY YOU HAVE THE POWER TO SAY 'NO MORE OF THAT' AND THROW EVERYONE OF THOSE BASTARDS OUT






Sinkies must organise themselves

Show that they got balls and can stand up to LKY intimidation.

Big money at stake.

Already 400-500++ billions got sucked and bled by LKY into his Temasick and GIC.
HOW MANY OTHER BILLIONS GOT SUCKED AND USED BY THEM IN GLC WHERE THEIR FAMILY MEMBERS AND MINISTERS AND BASTARDS IN WHITE ARE CHAIRMAN AND CEOS?

EVEN IF NO ELECTIONS, SINKIES MUST SPEAK WITH ALL THEIR FRIENDS AND ALL THEY KNOW

STAND UP TO THAT BASTARD LKY AND PAP BLOODSUCKERS

STAND WITH ALL THOSE THAT FIGHT BASTARD LKY

OR STAND UP YOURSELF IN YOUR CONSTITUENCY

DONT BE BULLIED BY THAT FUCKING COWARD LKY USING HIS CORRUPT KANGAROO COURTS AND ALL THAT HE CAN, AND WILL THROW AT YOU


You will fear them only if you allow yourself to fear them.

Just because THEY want you to fear them, must you fear those fucking bastards?

THEY ONLY CAN RULE YOU , AND BLED YOU , THROUGH FEAR AND INTIMIDATION.


SINKIES,

FIND YOUR BALLS AND STAND UP TO THEM.
THEY WILL THEN FEAR YOU.

AND YOU REGAIN YOUR MONEY AND YOUR FUTURE AND YOUR CHILDREN FUTURE.

DO NOT LET OUR MONEY GO TO FUND PAP DOGS FRENCH COOKING LESSONS

DO NOT DIE IN OLD FOLK HOMES IN JB.

FIND YOUR BALLS AND STAND UP TO THEM

 

[nickers9]

Whatever reported by Mediacock and SPH are edited before make it in NEWS. You are right actual figure should be worst.

They are many question many peasant want to ask PAP/gov.
1. Why do we need to pay so much to all Minister?
2. Why do we need so many MP?
3. Why do we need NS?
4. Why so many FT in service industry( many don't mind if FT work in construction/industrial)?
5. Why need to pay so higher GST?
6. Why need to pay TV license(many country already scrap)?
7. Why do we need President( do nothing/no contribution)?
8. Why pigeon hole so expensive( cost average 4rm $50K without land cost)?
9. Why education/medical fee so expensive?
10. Why ???????

If you asked why? There's this old man will come and tell you this," Why? Because I am the King of this country, I do what I please. If I thinks the fengshui is no good, I can turned the lands and roads upside down just to make sure the fengshui works only for me. And if I think the opposition are a piece of shit and blocking my way, I will get a bulldozer to clear my way or a hatchet to break the f**king head to make sure that piece of shit wake up. I am the one to decide which man I want to put in which position, if I love the prataman, I make sure he'll always be there to make my favourite prata. And gurkhas is always guarding my house and road leading to it to make sure Mas Selamat wont come and sell nasi lemak at my house. And if my wife is sick, I can even called Air Force One to come and pick her up for medical treatment. As I am the King, I do what I want, I own this country, without me, this country will forever be a slum."

 

[shelltox]

Bro , in the first place who cause our economy to tank, it is the worst paid president as a percentage of the GDP. The great USA and Eurozone. All the brainiest were attracted to the billions that wall street were churning up and the hefty pay packages. That's why th regulators at SEC and the FED could not fathom what the wall street bankers were selling to the mass market or turning a blind eye.

 

[PJ Boy]

Bro , in the first place who cause our economy to tank, it is the worst paid president as a percentage of the GDP. The great USA and Eurozone. All the brainiest were attracted to the billions that wall street were churning up and the hefty pay packages. That's why th regulators at SEC and the FED could not fathom what the wall street bankers were selling to the mass market or turning a blind eye.

Wrong, it's those motherfucking over-paid CEOs that caused all these mess because when a person is attracted by money, anything he does is about enriching himself, even to the extent that the whole society burns.

 

[shelltox]

I standby my statements, it was the wall street brains that cooked up the CDS<CDO,structured deposits ,hedge funds what have you got. They are so good at cooking up mathematical formulas that the idiotic regulators could not fathome what were happening . When investors all over the world bought billions of these toxic products, the bankers rewarded themselves with obscene amount of money. Everyone including singaporeans wants to be a investment bankers. GM and GE all were brick and mortar companies went into selling financial instruments inorder to ride the wave. Initially as expe cted every companies made billions and ceo were rewarded handsomely.

 

[singveld]

Is this for real??? damn it is bad.

 

[angie II]

Whatever reported by Mediacock and SPH are edited before make it in NEWS.

<table id="collapsibleTable0" class="collapsible"><tbody><tr> <th bgcolor="#9999ff">[hide]Yearly worldwide press freedom ranking of countries
published by Reporters Without Borders</th> </tr> <tr> <td> <table style="border: 1px solid rgb(204, 204, 204);" cellpadding="2" cellspacing="1"> <tbody><tr bgcolor="#9999ff"> <th>Rank</th> <th rowspan="2">Country</th> <th colspan="7">Index<sup class="noprint Inline-Template">[clarification needed]</sup></th> <th rowspan="2">Notes</th> </tr> <tr bgcolor="#9999ff"> <th>2008</th> <th>2008</th> <th>2007</th> <th>2006</th> <th>2005</th> <th>2004</th> <th>2003</th> <th>2002</th></tr></tbody></table></td></tr></tbody></table>

<table style="border: 1px solid rgb(204, 204, 204);" cellpadding="2" cellspacing="1"><tbody><tr style="color: rgb(0, 0, 0);" bgcolor="#ffff66"><td align="right">144</td> <td> Singapore</td> <td style="color: rgb(0, 0, 0);" align="right" bgcolor="#ffff66">49.00</td> <td style="color: rgb(0, 0, 0);" align="right" bgcolor="#ff9900">56.00</td> <td style="color: rgb(0, 0, 0);" align="right" bgcolor="#ff9900">51.50</td> <td style="color: rgb(0, 0, 0);" align="right" bgcolor="#ff9900">50.67</td> <td style="color: rgb(0, 0, 0);" align="right" bgcolor="#ff9900">57.00</td> <td style="color: rgb(0, 0, 0);" align="right" bgcolor="#ffff66">47.33</td> <td> </td></tr></tbody></table>