Temasek was set up in 1974 as a ‘sovereign poverty fund’
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Many young guys here just take the current situation in SG
for granted.U need computers in schools,u will get.
u need football fields ,u will get.Of course,your wish list cant be
fully fulfilled.
u only know SG have lot of Sovereign Wealth Fund,
most likely the no.1 per capita.
SWF in other countries were set up when they have
too much $$ to manage,
but not in this poor red dot city/country.
Do u know Temasek was set up in 1974 ,when SG was still a third
world country,barely just solved the 14% unemployment
rate after involuntarily kicked out from Malaysia in 1965?
Many then still lived in slums and squatters.
So ,Ho Ching is right to call Temasek
It was more like a ‘sovereign poverty fund’. Singapore had no oil money, no natural resources.
http://www.temasekholdings.com.sg/media_centre_news_speeches_250608.htm
Acceptance Remarks by Ms Ho Ching
Executive Director and CEO, Temasek Holdings
At the Asia Society's 21st Annual Dinner
25 June 2008, Washington D.CIt was set up to earn few more bucks to provide the much needed
$$ for gavaman expenditures-----housing,hopsitals,reservoirs,
military hard wares,communal TV in playgrounds...
yes very few can afford TV at home.
So TV were installed in playgrounds.
compare now u have a lap top in your table....
Dunt take it for granted,brother or sister.
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As said by many unit trusts and advisors
=> Past performance does not guarantee future performance
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u only know SG have lot of Sovereign Wealth Fund,
most likely the no.1 per capita.
SWF in other countries were set up when they have
Me have a few questions on the SWF.
1. Look at this wiki, each Singaporean worth abt 135,000(USD?) Is the money really belong to us? What are they doing with the profits?
2. If the money belong to us, why we never get any dividend frm so much money in SWF?
If say i migrate to other country, then shldnt i be alloted a share frm the fund, since i contributed part of it while i was a Singaporean.3. Liddat means i frm China I migrate to singapore, I theoretically 135k richer arh?
4. Can the ppl who handle the money Run road?
Me Dunno so I ask.... Me nt financially trained.
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Originally posted by lionnoisy:
Many young guys here just take the current situation in SG
for granted.U need computers in schools,u will get.
u need football fields ,u will get.Of course,your wish list cant be
fully fulfilled.
u only know SG have lot of Sovereign Wealth Fund,
most likely the no.1 per capita.
SWF in other countries were set up when they have
too much $$ to manage,
but not in this poor red dot city/country.
Do u know Temasek was set up in 1974 ,when SG was still a third
world country,barely just solved the 14% unemployment
rate after involuntarily kicked out from Malaysia in 1965?
Many then still lived in slums and squatters.
So ,Ho Ching is right to call Temasek
http://www.temasekholdings.com.sg/media_centre_news_speeches_250608.htm
Acceptance Remarks by Ms Ho Ching
Executive Director and CEO, Temasek Holdings
At the Asia Society's 21st Annual Dinner
25 June 2008, Washington D.CIt was set up to earn few more bucks to provide the much needed
$$ for gavaman expenditures-----housing,hopsitals,reservoirs,
military hard wares,communal TV in playgrounds...
yes very few can afford TV at home.
So TV were installed in playgrounds.
compare now u have a lap top in your table....
Dunt take it for granted,brother or sister.
We may be a small island without natural resource does that give the leaders the licence to tax and tax and hoard the taxes and make all kinds of profits from all the scams like GLCs to charge fees again for services which in the first place should have been financed by taxes paid.
If we do not have the natural resources does it mean that citizens become the money trees for the government to tax and tax and make all sorts of double and triple profits on lands like the HDB or SLA are doing at their expense.
If there is to be no free lunch and no welfarism there should be lesser government spending but do the citizens pay lesser taxes?
Where is the logic that just because we lack natural resources government must keep taxing and hoarding monies keeping most of the taxes as surpluses to reward leaders themselves when ordinary are struggling to pay all kinds of taxes and charges kept by leaders for their own glories.
No wonder we have so much sovereign wealth funds. These so-called wealth were not created by Temasek from micropolis or shin corp investments but by the sweat and blood of every citizen.
I will truly respect our leaders if these wealth funds were made from foreigners through their abilities instead of being used to rescue them at the expense of citizens' retirements.
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Like so many things in Singapore what started as a good idea, it became a tool for nepotism and cornyism. It became a tool to take as much from Singaporeans as possible and to give the money to foreigners... sigh, what can one expect from dishonorable people?
