Taxpayers to rescue Desmond, Kua Hong Pak and Ho Ching

[virus]

Don't be scared no government. Multiple million dollars jobs sure got takers.

It really doesn't make sense for each bus to cost 2 million. I believed each bus at most cost 300k.

if the things so good, you think still got chance to queue up. wait you find a empty dough shop deh.

 

[bakkuttay]

1.1 billion to buy 550 buses, each bus 2 million?
Why so expensive?

if the things so good, you think still got chance to queue up. wait you find a empty dough shop deh.

a quick way to write down the reserves.???

 

[dr.wailing]

My reaction was Mahathir rescuing his cronies and his son loomed in front of me.

Uh, oh.....have you spared a thought for yourself and prepared for the day when you receive a letter from the lawyer representing LHL?

 

[Satyr]

The bus service is clearly under stress. The poor planning in regard to intake of foreigners is the catalyst here. A series of policy failures have finally come to roost. It's not even the bus service, it also the MRT that is going to be taken over. This state of affairs cannot be left to fester.

The situation become even more inflamed when GLCs who were given monopoly over these services are now victims of these poor policies. They are now seen as protected and given special deals. Mind you they are paid market rates.

This is a disaster that is the making of the PAP government. It's a monster they created. This is not due to a natural disaster or an unexpected turn of events.

No sane leader will ever have his wife as the head of state sovereign fund which controls so much of entities that have monopolistic position. It's a powder keg that will blow. Is she endowed with some special gifts or vision. Was it worth it.

This where the cabinet should have advised the PM. They kept quiet and we all know that they too realise that it is not a good combination.

I do believe he was advised that sleeping with the head of the sovereign wealth fund would not look good even if sanctified by marriage. I think the trouble is that nobody could be trusted to take over. The mysterious coming and going of one Mr. Goodyear points to something smelling in the state of Denmark. There are already probably too many embarrassments and as time goes by, more and more will accumulate. Had the presidency fallen to an outsider one wonders what would have emerged.

 

[syed putra]

using 1.1 billion of public fund to support a private company when their yearly reports announces hundred million in profits? logic clearly gone out of the windows, or am i missing out something here?

looks like paper profit. then declare hefty dividend. No need to rob banks. Then declare financial emergency. Buses cannot stop running otherwise it will be a catastrophe reputation wise.

1.1 billion probably includes bus stations, not just the buses,

 

[scroobal]

This is speculative but I suspect that Goodyear as any eager new chief must have started trying to work the valuation and expected returns of new deals in the pipeline. He must have wondered about certain things such the cheap valuation of govt assists given to Temasek and realised it was something and asked some unpleasant questions.

I do believe he was advised that sleeping with the head of the sovereign wealth fund would not look good even if sanctified by marriage. I think the trouble is that nobody could be trusted to take over. The mysterious coming and going of one Mr. Goodyear points to something smelling in the state of Denmark. There are already probably too many embarrassments and as time goes by, more and more will accumulate. Had the presidency fallen to an outsider one wonders what would have emerged.

 

[scroobal]

Mahathri had the very same intention. No lawyer in Singapore representing the PM is going to paint what Mahathir did as anything unsavoury. Get the picture. There is nothing defamatory in that post. Everything is either factual or a reasonable reading of the events.

Uh, oh.....have you spared a thought for yourself and prepared for the day when you receive a letter from the lawyer representing LHL?

 

[winnipegjets]

1.1 billion to buy 550 buses, each bus 2 million?
Why so expensive?

And many more billions will be given to the operators. The operators will get compensated above average for the routes they bid on. Whereas, they lost money operating those routes on their own, now they will make hundreds of millions, thanks to the PAP policy of socializing cost and privatize profits.

The government could run the bus system cheaper and better without outsourcing. With outsourcing, there is a profit margin that the government has to give to the operators. So, more tax dollars going to shareholders and executives of the previous bus operators!

 

[bakkuttay]

A very expensive plaster been used on goodyear's mouth.

 

[Charlie99]

The bus service is clearly under stress. The poor planning in regard to intake of foreigners is the catalyst here. A series of policy failures have finally come to roost. It's not even the bus service, it also the MRT that is going to be taken over. This state of affairs cannot be left to fester.

The situation become even more inflamed when GLCs who were given monopoly over these services are now victims of these poor policies. They are now seen as protected and given special deals. Mind you they are paid market rates.

This is a disaster that is the making of the PAP government. It's a monster they created. This is not due to a natural disaster or an unexpected turn of events.

No sane leader will ever have his wife as the head of state sovereign fund which controls so much of entities that have monopolistic position. It's a powder keg that will blow. Is she endowed with some special gifts or vision. Was it worth it.

This where the cabinet should have advised the PM. They kept quiet and we all know that they too realise that it is not a good combination.

With respect, although the ruling party which forms the prior and present leadership in the SG govt. emphasised good governance and integrity, I am unable to understand why none of their cabinet ministers and MP's did not strongly urge the Honourable Prime Minister that there should be real and apparent independence and no conflict of interest, no perceived "nepotism", from the citizens' perspective.

I believe that with so many talented and experienced finance professionals, as well as capable senior civil servants and "scholars", there must be at least half a dozen to a dozen able, well qualified, experienced individuals who are at least as good, capable and qualified, if not better, than the present "leader" or "CEO" or whatever title, of Temasek Holdings.

Wearing white does not make the Honourable Prime Minister, his spouse and their positions or appointments any purer, conflict free, or practising good governance.

 

[scroobal]

This has happened twice before and it involved Indians on both occasions. The first was bringing the son, the present PM into politics. Old Man claimed that it was Rajaretnam who talent spotted LHL when he was young man and suitable for politics. It was show that someone not connected by family ties and who held a senior leadership position in Govt that brought in the new talent.

Dhanabalan was the one who talent spotted Ho Ching as a talent when he was Chairman. He then recommended her to GCT who was premier then. GCT gave press conference then. She was appointed as Exec Director while her husband was only one year in the job as Minister of Finance. 2 years later she became CEO and the conflict of interest became real.

The use of Indians to show independence and neutrality is quite an interesting phenomenon.

Part of it denial and part of it is convincing oneself there is no conflict of interest.

The rest of cabinet colleagues would in their mind would find excuses to satisfy their excuses. These may range from I was not around to it is not in my remit.

With respect, although the ruling party which forms the prior and present leadership in the SG govt. emphasised good governance and integrity, I am unable to understand why none of their cabinet ministers and MP's did not strongly urge the Honourable Prime Minister that there should be real and apparent independence and no conflict of interest, no perceived "nepotism", from the citizens' perspective.

I believe that with so many talented and experienced finance professionals, as well as capable senior civil servants and "scholars", there must be at least half a dozen to a dozen able, well qualified, experienced individuals who are at least as good, capable and qualified, if not better, than the present "leader" or "CEO" or whatever title, of Temasek Holdings.

Wearing white does not make the Honourable Prime Minister, his spouse and their positions or appointments any purer, conflict free, or practising good governance.

 

[Debonerman]

This has happened twice before and it involved Indians on both occasions. The first was bringing the son, the present PM into politics. Old Man claimed that it was Rajaretnam who talent spotted LHL when he was young man and suitable for politics. It was show that someone not connected by family ties and who held a senior leadership position in Govt that brought in the new talent.

Dhanabalan was the one who talent spotted Ho Ching as a talent when he was Chairman. He then recommended her to GCT who was premier then. GCT gave press conference then. She was appointed as Exec Director while her husband was only one year in the job as Minister of Finance. 2 years later she became CEO and the conflict of interest became real.

The use of Indians to show independence and neutrality is quite an interesting phenomenon.

Part of it denial and part of it is convincing oneself there is no conflict of interest.

The rest of cabinet colleagues would in their mind would find excuses to satisfy their excuses. These may range from I was not around to it is not in my remit.

No wonder the supply had increased to last a ten thousand year Lee dynasty.

 

[zhihau]

I believe that with so many talented and experienced finance professionals, as well as capable senior civil servants and "scholars", there must be at least half a dozen to a dozen able, well qualified, experienced individuals who are at least as good, capable and qualified, if not better, than the present "leader" or "CEO" or whatever title, of Temasek Holdings.

they scour through the globe to find Desmond K to replace Saw PH... and how did Saw manage to be selected in the first place?

 

[Charlie99]

Regardless how and who helped to justify independence and accordingly, no conflict of interest, the politicians have to demonstrate that they have integrity and total independence, more so, when they claimed that in order to deter and prevent corruption, the politicians, civil servants and the judiciary must be paid close to market rate compensation, when they do not risk their capital as entrepreneurs and professionals do.

This has happened twice before and it involved Indians on both occasions. The first was bringing the son, the present PM into politics. Old Man claimed that it was Rajaretnam who talent spotted LHL when he was young man and suitable for politics. It was show that someone not connected by family ties and who held a senior leadership position in Govt that brought in the new talent.

Dhanabalan was the one who talent spotted Ho Ching as a talent when he was Chairman. He then recommended her to GCT who was premier then. GCT gave press conference then. She was appointed as Exec Director while her husband was only one year in the job as Minister of Finance. 2 years later she became CEO and the conflict of interest became real.

The use of Indians to show independence and neutrality is quite an interesting phenomenon.

Part of it denial and part of it is convincing oneself there is no conflict of interest.

The rest of cabinet colleagues would in their mind would find excuses to satisfy their excuses. These may range from I was not around to it is not in my remit.

 

[batman1]

With respect, although the ruling party which forms the prior and present leadership in the SG govt. emphasised good governance and integrity, I am unable to understand why none of their cabinet ministers and MP's did not strongly urge the Honourable Prime Minister that there should be real and apparent independence and no conflict of interest, no perceived "nepotism", from the citizens' perspective.

I believe that with so many talented and experienced finance professionals, as well as capable senior civil servants and "scholars", there must be at least half a dozen to a dozen able, well qualified, experienced individuals who are at least as good, capable and qualified, if not better, than the present "leader" or "CEO" or whatever title, of Temasek Holdings.

Wearing white does not make the Honourable Prime Minister, his spouse and their positions or appointments any purer, conflict free, or practising good governance.

Most or All of the PAP Ministers and MPs are YESMEN or were just rubber-stamps.Yes Sir ! Yes Sir! U are correct Sir ! and they easily collected their obscene and legalised corrupt salaries and bonuses.Talented and experienced singaporeans will come out to serve the country only when the old fart kick the bucket and it seems good news coming very soon.

 

[Satyr]

This is speculative but I suspect that Goodyear as any eager new chief must have started trying to work the valuation and expected returns of new deals in the pipeline. He must have wondered about certain things such the cheap valuation of govt assists given to Temasek and realised it was something and asked some unpleasant questions.

I think Goodyear must have queried the historical fantastic returns and discovered how much of this was due to injection of cheap assets. As new CEO he must have decided that if he needs to show equal or better returns without the same assists he was due for an impossible task. Better to bail out before he hits quicksand. Speculative again. I believe HC is still there because nobody suitable wants the job yet.

 

[Hans168]

Ouch! watch it Scrooey baby, this is a bit Roy-esque. Dont get srewed too.

.........screwed, impaled n flame roasted with CPF money reset to null

 

[Hans168]

The bus service is clearly under stress. The poor planning in regard to intake of foreigners is the catalyst here. A series of policy failures have finally come to roost. It's not even the bus service, it also the MRT that is going to be taken over. This state of affairs cannot be left to fester.

The situation become even more inflamed when GLCs who were given monopoly over these services are now victims of these poor policies. They are now seen as protected and given special deals. Mind you they are paid market rates.

This is a disaster that is the making of the PAP government. It's a monster they created. This is not due to a natural disaster or an unexpected turn of events.

No sane leader will ever have his wife as the head of state sovereign fund which controls so much of entities that have monopolistic position. It's a powder keg that will blow. Is she endowed with some special gifts or vision. Was it worth it.

This where the cabinet should have advised the PM. They kept quiet and we all know that they too realise that it is not a good combination.

.... she is gifted: buy high, sell low!! Warren Buffet unable to match her feat.

 

[dr.wailing]

......but I suspect that Goodyear as any eager new chief must have started trying to work the valuation and expected returns of new deals in the pipeline. He must have wondered about certain things such the cheap valuation of govt assists given to Temasek and realised it was something and asked some unpleasant questions.

According to US intel, Goodyear was given very restrictive conditions under which he could and could not discuss this detail or that. Moreover he had to run his decisions by LHL. LHL, heeding his father's advice, wanted to micro-manage him.

 

[dr.wailing]

The rest of cabinet colleagues would in their mind would find excuses to satisfy their excuses. These may range from I was not around to it is not in my remit.

This was exactly what the courtiers, ladies-in-waiting and the whole entourage of the Emperor must have thought in "The Emperor's New Clothes".