How much we have,excluding CPF?
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i read Business Times articles saying sporeans all can retire.
Government has so much money,excluding CPF.
So,how much we have,excluding CPF?
1.At $430 billion, Singapore's two investment funds have twice the market value of Bank of America.
--As governments invest, motives blur
Steven Pearlstein,Washington Post,25 Jul 07
2.Together, Singapore's GIC and Temasek control more than US$200-billion in state assets, much of it spilling out to other countries.
--Barclays' state sellout
Terence Corcoran,Financial Post,27 Jul 07
3.half of government total expenditure can come from interest
say return is 4 % after inflation,at US$200 billion,
the interest produce is US$10 billion or S$15 billion,
about half of government total expenditure.
4.GST
why SG still has to increase GST?can anyone share here? -
That is a hell lot of money yes, but I'll bet the next reply would be asking why the money is in the government's pocket and not ours. Few posts down, people start to gather to repeat the same old complains about PAP, then some jokers come along and start arguing for the other side and the whole thing collapse into some kids spit spatting session.
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Originally posted by lionnoisy:
PM mat toro.
i read Business Times articles saying sporeans all can retire.
Government has so much money,excluding CPF.
So,how much we have,excluding CPF?
1.
[b]--Barclays' state sellout
Terence Corcoran,Financial Post,27 Jul 07
3.half of government total expenditure can come from interest
say return is 4 % after inflation,at US$200 billion,
the interest produce is US$10 billion or S$15 billion,
about half of government total expenditure.
4.GST
why SG still has to increase GST?can anyone share here?[/b]
he has all the answers.
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Seems lionnoisy is singing a different tune from the concerns expressed in parliment recently that some might find their CPF not enough to retire on given the recent rises in the cost of living.
+1 -
i must be on the verge of striking a lottery after i just noticed who started the thread..
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The table attached to this article On a mission to dispel myths,
In London, Temasek's executive director addresses its Govt links, Barclay stake,by
Katherine Griffiths--/www.todayonline.com,Friday, September 7, 2007
says GIC assests is US $330 billion and Temasek US$108 billion.
sources of the article:
www.economist.com----World investment prospects
THE day-to-day head of investment giant Temasek is in London to try to dispel what he believes are myths about the US$108-billion ($164-billion) fund which is 100-per-cent owned by the Singapore Government.
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"Misunderstood is probably the wrong word, but we are not understood," said 54-year-old New Zealander Simon Israel in one of the first interviews he has given in the West.
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Yet, some say the company is not allaying fears among Western governments — and several Asian ones — that it wants to snap up their countries' assets. In the United Kingdom, Temasek has just further increased its biggest holding, in Standard Chartered, to 16.3 per cent from 15.3 per cent.
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A few weeks ago, Temasek surprised the world by taking a 2-per-cent stake in Barclays as part of the UK bank's increased bid for ABN Amro. There is also speculation that Temasek might deploy some of its mighty reserves to snap up a significant chunk of the 31-per-cent stake held by Nasdaq in the London Stock Exchange.
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"We may or may not be interested," said Mr Israel.
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Temasek is also in a delicate situation over its strategic holdings in British banks, with Barclays' shares having fallen — about 15.6 per cent, as of Wednesday's price — since it tabled its new offer for ABN on July 23.
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Mr Israel noted that Temasek has suffered a "paper" loss but said: "All the banks are reflecting uncertainty in the market. Barclays is no exception. We have not changed our view on Barclays."
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If Barclays is to have a hope of closing the gap on a rival higher bid from a consortium led by the Royal Bank of Scotland, it will have to pull another rabbit out of its hat. Could that be a further cash infusion from Temasek? If the bank's chief executive John Varley were to suggest it, Mr Israel signalled he would consider it.
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Or, if the ABN takeover fails, some believe Temasek could be in a position to suggest a deal between Barclays — which wants to ramp up its exposure to the fast-growing Asian economies — and smaller rival Standard Chartered, which focuses on Asia, Africa and the Middle East.
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Mr Israel, 54, was keen to emphasise both banks are attractive simply as investments. Standard Chartered is a particular favourite of Temasek, because it taps the soaring demand for banking services from Asia's burgeoning middle class.
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In Barclays' case, the opportunity lies in the fact that Temasek can provide contacts and act as an adviser in its push into Asia. The Barclays stake also fits with the strategy Temasek outlined in 2002 to grow its holdings in Western companies.
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However, Temasek has, in the past, used its holdings to suggest companies get together, and Mr Israel will not rule out such a scenario in the case of Barclays and Standard Chartered.
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"We are patient investors, not passive ones," he said. "We think about the optionality around our portfolio."
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Mr Israel joined Singapore's investment company in July last year after three decades in Asia, including running America's Sara Lee and France's Danone in the region.
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His appointment as executive director was part of a drive by Temasek to become more open to the outside world, as its ambitions to flex its muscles on the international stage also grew.
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One of the messages Temasek is trying to convey is that it operates separately from the government. Said Mr Israel: "The idea that Temasek is an instrument of the Singaporean Government could not be further from the truth."
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All investment decisions have been made by Temasek's board, Mr Israel maintained. The Government receives a 7 per cent dividend, and gets an annual update on performance — and that is it, he said.
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One sticking point for outsiders is that Temasek's chief executive Ho Ching is the wife of Prime Minister Lee Hsien Loong.
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Said Mr Israel: "When the outside world looks at it, I can understand why there is an issue of perception." But "those who know Ho Ching well will tell you she's very much her own person".
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Having become accustomed to being one of only a handful of government-financed funds that invest in assets, Temasek is now finding the space increasingly crowded -- with China, Indonesia and Japan considering establishing new sovereign funds.
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"Temasek is highly differentiated," Mr Israel argued, saying Temasek stands apart because of its separation from politics, its historical performance -- it has delivered 18 per cent annual growth -- and its publication of an annual report, which contains its revenues and profits, and a full list of its holdings.
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But Mr Israel also spoke up for the emerging class of sovereign funds against the backdrop of threats by countries such as Germany to block them from investing in strategic sectors like banking and telecoms.
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"People say sovereign funds will go from about $2,500 billion today to $12,500 billion by 2015, which sounds plausible. The world is struggling to come to terms with exactly what that is going to mean. I hope they take time to think carefully before leaping and legislating," he said.
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Temasek may be facing more competition, but the future looks bright for the tightly-run company. More Western companies want to invest in Asia, and Temasek, with its deep roots in Asia and connections with the region's most powerful companies and families, is in a strong position to help them.
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If the debt markets dry up further and leave private equity funds impotent, Temasek and its deep-pocketed rivals should also be able to pounce on more assets around the world.
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"I tend to look at life as the glass being half-full," said Mr Israel. "The large capital inflows (from sovereign funds) could be good - who's to say it is going to be bad?" -- The Telegraph
2.Assume return is 5 %,the yield can cover capital and operational
expenditures.I am looking forward ALL Singaporeans will
have a Tax Free Year when SG reach 50th birthday!! -
it was i who shot the sheriff but i did not shot no deputy
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antique songOriginally posted by DjMatrix:it was i who shot the sheriff but i did not shot no deputy
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Tax free on Singapore's 50th Anniversary ?
Will there be free lunch after all ?
Perhaps being a New Zealander, Mr Simon Israel - the Executive Director of Temasek UK - must have thought a little of New Zealand welfarism will do little harm for Singapore ?
Forget ''Tax Free'' - just an annual contribution of 0.5% to 2% from ''Temasek's Annual Net Profit before Tax'' payable as annual premium for a National Insurance Scheme to cover all Singaporeans, and for any Singaporeans to draw to cover for Medical and Hospitalisation costs will be sufficient. -
all the money must be used to pay the CEO, COO, CFO, MD, VP, Board of Directors, Chairman basic salery. Then the remainder can be given out as 15months bonus at year end. After that the rest must be reinvested to make sure the cycle can be repeated next year. More good years! Cheers!