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Their MIDDLE FINGER treatment.
Pinky's unspoken message at NDR: NO such thing as free lunch in Sinkieland
- Thread starter PrinceCharming
- Start date
Their MIDDLE FINGER treatment.
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When a fund is managed, the measurement is not about individual portfolios as there will always be winners and losers. It's about the overall performance and in this regard, Ho Ching has done a fantastic job.
Temasek is one of a few global firms assigned with the highest overall corporate credit ratings of “AAA” byStandard & Poor's[SUP][4][/SUP] and “Aaa” by Moody's.[SUP][5][/SUP] It has also attained perfect quarterly scores[SUP][6][/SUP] on the Linaburg-Maduell Transparency Index, a measure of the openness of government-owned investment funds.
[h=3]Performance[edit source | editbeta][/h]
- Temasek delivered a record net portfolio value of S$215 billion (US$ 173 billion), with a net cash position (up S$17 billion from S$198 billion the previous year).This marked an increase of S$154 billion over the past 10 years.[SUP][3][/SUP]
- Over 73% of Temasek’s portfolio was held in liquid and listed assets.[SUP][12][/SUP]
- Temasek invested a total of S$20 billion and divested S$13 billion during the year. Net investments for the year amounted to S$7 billion.[SUP][13][/SUP]
- Temasek’s Total Shareholder Return (TSR) for the year was 8.86%. Compounded annual return to shareholder over the past decade was 13% while TSR since the company’s inception in 1974 was 16%.[SUP][14][/SUP]
- Group Shareholder Equity increased to S$169 billion, including fair value reserve of S$13 billion, and Group Net Profile was at S$11 billion.[SUP][3][/SUP]
Does elite scholar class not get free education and cushy job? Do they have to work in fast food restaurants under FT?
Does the pap gov't not give free scholarship to children of foreigners ....
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great, what about GIC? it scored only 6 on the Linaburg-Maduell index, making it less transparent than the Kazakhstan national fund.
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GIC is Singapore's secret weapon. The less disclosed the better. I have complete faith in the government not to misuse the money.
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I have been hearing the bull shit about saving for rainy day for years. My question for the people sprouting this nonesense is "when is it considered a rainy day" and "how much savings is enough". Our foreign reserve alone is few hundred billions. For a tiny state of 5 million, you mean our savings still not enough?
The government should strive for a neutral budget and not to have a surplus every year. Our supposed savings should continue to grownfrom prudent management of our funds. With such significant savings, and such tiny population, the interest alone can feed the nation, provided it is still there
The government should strive for a neutral budget and not to have a surplus every year. Our supposed savings should continue to grownfrom prudent management of our funds. With such significant savings, and such tiny population, the interest alone can feed the nation, provided it is still there
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was gonna start a thread on "saving for a rainy day" this morning when i saw young americans driving around a rental block in their amg's, porches, m3's, m5's and audis.
rolled my eyes because these chicks and chaps were renting apartments near the bart station. not that they made it big by working for google or apple, and exercised their stock options to cash in. nope. these are youths who live paycheck to paycheck, who just got hired in the area, relocated, and decide to live in rental apartments close to bart so they can commute to the city by train. yet they would rather spend big money on very expensive cars. we're not talking toyotas, hondas and hyundais or even kias. not even vw's. the rental blocks next to the bart station provide secure parking in gated areas. perhaps a reason why they would rent there. but since they commute to sf, their cars would be quite useless for daily commute. but no. they would drive around the block every morning to rev their cars and keep the oil churning and engine working, like walking their dogs. oh yes, they also have dogs. lots of dogs in the area. the morning routine would include driving cars round the block and then back to secure garage, followed by same folks walking their dogs, and finally culminating in a visit to starbucks to get their ventis and grandes. and when the sipping or gulping is done, they would proceed to keep their pets and go to work. the train station is just within walking distance.
meanwhile, the freshly arrived asians, chinese and indians in particular, would seldom rent or buy expensive cars but instead plunk their hard earned savings on houses and not go into serious debt. these folks don't believe in paying rent. and they make do with toyota camry's, corollas and honda civics and accords. very typical and predictable. it's a formula that is repetitive and well proven.
back at the rental block, young americans are living the "now" - apartment, dogs, cats, not ordinary cars, gourmet coffee, dining out at night, getting drunk in bars, restaurants and hip and chic joints. check their credit reports, and you'll find multiple credit card accounts, high unpaid balances, accounts in arrears, zero properties, few assets. even the semi supercars they drive are on leases, not owned or fully paid. no sense of saving for a rainy day. zilch. nada.
back to chinese and indian immigrants. in less than a decade, they become landlords, own multiple rental properties, put their children and grandchildren thru' the best schools and universities, invest in funds that help grow the economy and start enterprises, remain the invisible low-profile unassuming hands that pay parcel taxes, local taxes, state taxes and federal taxes. yet they drive their decade old decrepit toyotas and hondas, unafraid of being caught in an economy car. these are the true savers in america. they brought their saving attitude to their new country. same as naturalized germans and japanese.
back again to rental block near bart. the co-owners of the development company that build apartment blocks near bart stations happen to be chinese and indian immigrants. shocking but true.
rolled my eyes because these chicks and chaps were renting apartments near the bart station. not that they made it big by working for google or apple, and exercised their stock options to cash in. nope. these are youths who live paycheck to paycheck, who just got hired in the area, relocated, and decide to live in rental apartments close to bart so they can commute to the city by train. yet they would rather spend big money on very expensive cars. we're not talking toyotas, hondas and hyundais or even kias. not even vw's. the rental blocks next to the bart station provide secure parking in gated areas. perhaps a reason why they would rent there. but since they commute to sf, their cars would be quite useless for daily commute. but no. they would drive around the block every morning to rev their cars and keep the oil churning and engine working, like walking their dogs. oh yes, they also have dogs. lots of dogs in the area. the morning routine would include driving cars round the block and then back to secure garage, followed by same folks walking their dogs, and finally culminating in a visit to starbucks to get their ventis and grandes. and when the sipping or gulping is done, they would proceed to keep their pets and go to work. the train station is just within walking distance.
meanwhile, the freshly arrived asians, chinese and indians in particular, would seldom rent or buy expensive cars but instead plunk their hard earned savings on houses and not go into serious debt. these folks don't believe in paying rent. and they make do with toyota camry's, corollas and honda civics and accords. very typical and predictable. it's a formula that is repetitive and well proven.
back at the rental block, young americans are living the "now" - apartment, dogs, cats, not ordinary cars, gourmet coffee, dining out at night, getting drunk in bars, restaurants and hip and chic joints. check their credit reports, and you'll find multiple credit card accounts, high unpaid balances, accounts in arrears, zero properties, few assets. even the semi supercars they drive are on leases, not owned or fully paid. no sense of saving for a rainy day. zilch. nada.
back to chinese and indian immigrants. in less than a decade, they become landlords, own multiple rental properties, put their children and grandchildren thru' the best schools and universities, invest in funds that help grow the economy and start enterprises, remain the invisible low-profile unassuming hands that pay parcel taxes, local taxes, state taxes and federal taxes. yet they drive their decade old decrepit toyotas and hondas, unafraid of being caught in an economy car. these are the true savers in america. they brought their saving attitude to their new country. same as naturalized germans and japanese.
back again to rental block near bart. the co-owners of the development company that build apartment blocks near bart stations happen to be chinese and indian immigrants. shocking but true.
Bull shit.
There comes a time when you have accumulated so much reserves that no raining day will be a wash out on the country.
Pap scums mouthing the same tume like you here, are just using the money for their own enjoyment so much so that Ah Ching can go Ho, Ho, Ho shopping and pay junks at high prices and selling low, losing billions like nothing.
It almost like they have taken the ppl's money for granted, kept them so for their own use and splurge in whatever fancies them.
Now they do even want to have any burdens, little as they might be to be imposed on 'their' reserves like using all of the Sinkie peasants Medisave , send it to some insurance companies to pool the funds and let third parties make money out of it use the remaining as whatever payout these companies might fork out!
Real con job right from the beginning.
And as usual I will have to end the phrase with : the Sinkie took this upon themselves and deserved it!
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Ho Ching has managed the state's funds extremely well and Temasek has returned spectacular results over the years.
Using whose money?
Paying who back for using whose money?
Even loan sharks who charge 20% per week over their total capital sum of less than a few hundred thousand cannot fare better than Ah Ching paying you back 2.5% when she used billions and make back more than 10%!
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The money is managed by a Singaporean for the benefit of all Singaporeans. It is not her personal piggy bank. The money belongs to the nation not a person.
Firstly, she is a Malaysian.
Secondly, Temasek is like a black hole. Nobody knows what they do. Nobody know which companies they own.
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what's this ethereal concept of nation? so the money belongs to the sand at east coast beach? or to the trees at mandai?
you forget the nation is the people. the money belongs to us and yet we see no benefits for our sacrifices to build up the monies in temasek and GIC. all the revenue generated through indirect taxes, levies, licenses, rental income etc, it drains the people's wealth but to what end??
i can no longer in good conscience support making money for the sake of making more money.
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many economists say temasek's results are too good to be true. they also do not trust the portfolio. unless they were selling guns and drugs no one can make that kind of profit.
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i wont be surprised if the books are heavily buffered by bonds purchased by CPF board. i'm not an accountant but we can all smell a rat.
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It is because of huge budget surpluses and large sovereign wealth funds that we are able to punch above our own weight.
Singapore is a small country. We have to go to extraordinary lengths to become extraordinary. Everyone must understand the nature of this sacrifice. It is the right thing to do.
Without Temasek and GIC's global portfolio of over half a trillion dollars, Singapore would not be able to stand tall and command respect on the world stage. We would be belittled by everyone and we would be insignificant.
Singapore is a small country. We have to go to extraordinary lengths to become extraordinary. Everyone must understand the nature of this sacrifice. It is the right thing to do.
Without Temasek and GIC's global portfolio of over half a trillion dollars, Singapore would not be able to stand tall and command respect on the world stage. We would be belittled by everyone and we would be insignificant.
