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Web Of Deceit?

Discussion in 'The Political / Serious Zone [no rep deductions]' started by TracyTan866, Apr 25, 2012.

  1. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    Consider the following:

    1. GIC and TH use CPF for their investments. They boasted that they make annualised returns of abt 18% and pay themselves handsomely. But they pay CPF investors a paltry 2.5% return when inflation is at 5%. Malaysia's EPF pays 5.8% to their EPF depositors. How can Singaporeans have enough savings for their old age when their long term retirement deposits get less returns than the rate of inflation? Is there deceit?

    2. TH gets its subsidiary DBS to buy its Danamon Bank at 57% premium of its market price. In the process, TH makes billions of dollars. Left pocket paying 57% premium to the right pocket, called it profits and pays right pocket huge salaries? DBS share price plummeted.. Is there deceit?

    3. SG govt intends to give $1.1B to SBS to buy buses. This is tantamount to a handout of $1.1B of Singaporeans' money to TH and SBS. Because of this handout, SBS wld make more profits and TH and SBS management and shareholders will get fat salaries and high dividends. Why cant SBS, as a public listed company run its business according to corporate principles and governance and take commercial loans for its 800 buses? why shd the pap give $1.1B of tax payers money to a listed company and allow them to pocket the profits? the $1.1B could have been rightfully used to help the poor and the sick. Is there deceit?

    4. Why was estate duties abolished when KGC was on her deathbed?
     
    Last edited: Apr 25, 2012
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  2. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    5. SMRT has revealed plans to upgrade its systems at an estimated cost of $900m. Will these monies come from the govt which is Singaporeans money or will SMRT, as a listed company, take commercial loans? If it is from the govt, it is a handout of Singaporean's money to a public listed company and will help SMRT make high profits with tax payers money. Also will the upgrade jobs be given to GLCs and TLCs at super high costs or will they be tendered out to the most effective and cheapest companies, regardless of affiliation. Will there be deceit?
     
    Last edited: Apr 25, 2012
  3. bullfrog

    bullfrog Alfrescian Old Timer

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    LHL on FB now. Can post ur very good questions there also?
     
  4. batman1

    batman1 Alfrescian Old Timer

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    The facts are obvious:A network of corruption,collusion & nepotism.
    U don't have to be a rocket scientist to know who are the unethical and
    immoral ar**holes .
     
  5. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    I dont go into his FB. Do you? If so, wld you like to help post my questions to him on FB?
     
  6. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    If these are not stopped, "Crumbling of Singapore" is imminent
     
  7. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    I wonder whether the pap minister has a conscience.
     
  8. eatshitndie

    eatshitndie Alfrescian (Inf)

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    if you're so passionate about what you're saying, why not? not having balls is no excuse for not confronting your nemesis head on. :p
     
  9. Kinana

    Kinana Alfrescian Old Timer

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    There is nothing wrong with that. CPF is like a bank. Lets say you borrow at 3% from a bank to fund your businessa nd you got 20% return. Does that mean you have ripped off the bank and is therefore required to pay the bank at a higher interest?

    The interest rate of CPF is pegged to market interest rates, not to inflation. As long as the CPF rate is higher than the bank rates, it is already fair to the saver.

    Share price of DBS is determined by the market. Its up to investors like you and me to up or lower the price.


    I disagree with subsidising the bus purchases. The govt should hands off and not control bus fares, allow the bus companies to increase fares to fund the bus purchasers.

    abolition of estate duties was a great move and is only fair.
    How can we rob others of their life's work from their children?
     
    Last edited: Apr 25, 2012
  10. Kinana

    Kinana Alfrescian Old Timer

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    It depends. The track is owned by the govt, not SMRT. Besides, SMRT is a company that is highly regulated by the govt, just like the bus companies.
    SMRT should pay for all the upgrading costs if it is allowed to raise fares freely.
     
  11. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    I dont chat with someone I dont respect and dont go to his FB. I dont respect LHL because, as a National Leader, he argued vehemently that although he was inside an Electoral voting centre, he was never within 50m of the centre. His argument defies reason. Can I expect any reasonable answer from such a man when his neck is sticking out now?
     
  12. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    Are you saying that tax payers' money shd be used to subsidise a listed company whose profits go to shareholders?


    Do you agree that SMRT is a monopoly? Is it better for SMRT to be run by SG Incorporation as a non profit organisation so as to benefit Singaporeans rather than bastardise it and then use tax payers' money to benefit
     
  13. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    Are you sure GIC and TH are paying higher rate to CPF than it wld if it borrows from other commercial sources??
     
  14. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    You dont get it. The market frowns on this deceit , that's why DBS' price went down.
     
  15. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    Shdn't your disagreement extend to the govt subsidising SMRT too? why did u agree with the SMRT subsidy when u disagree with the SBS subsidy.

    In principle, the govt shd never use tax payers money to subsidise a listed company. let it borrow and pay interests on sources of funds it needs for its operations.
     
    Last edited: Apr 25, 2012
  16. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    if it was for fairness, why abolish it only when KGC was on her death bed? what happened to those who had to pay estate duties like Khoo Teck Puat and others?
     
    Last edited: Apr 25, 2012
  17. Zombie

    Zombie Guest

    1) cpf is the one influencing the market interest rates, not the other way round... those need to know more please go find out what happened to the local debt market in 1987 wrt the cpf...

    2) indonesia's economy is expecting to be hit in 2012 (please google for more info), though it is considered to be manageable, there is no reason for a major acquisition with a high premium prior to an expected slowdown......

    3) nationalise the train and bus, use the $2B to upgrade the systems, pay back the shareholders by instalments+interests..

    4) estate duty is just a one time capital gain tax....
     
  18. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    Just hot from the press:
    "SINGAPORE: DBS Group Holdings' shareholders have voiced concerns regarding the proposed acquisition of Bank Danamon Indonesia at its annual general meeting (AGM) on Wednesday.

    These include pricing for the Danamon deal and potential risks of operating in Indonesia"


    Is there deceit?
     
  19. Kinana

    Kinana Alfrescian Old Timer

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    I am saying that govt shld not subsidise SMRT, they also shld not restrcit SMRT from increasing fares to be fair.


    Possibly so. We do not know.
    Are you saying you should pay the bank more if your business do well? You didnb't answer. Are you then not ripping the bank off then?
    Let them pay the price for alledged deceit then. Whats the problem?
    In principle, the govt should not interfering with how the company price their fares too

    It has to start somewhere, it just so happens it was then.
    KGC's estate belongs to LKY, so there is no death or inheritance tax to be paid then even if the law was not abolished.
     
  20. TracyTan866

    TracyTan866 Alfrescian (Inf)

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    So the pap has done two wrongs.

    shd the pap allow monopolistic SMRT ?
     

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