S$300 mil loss by Sembmar S$2 bil by Temasek affect our CPF

robertteh SG

Why is it that the government cannot afford to pay 5% pa interests on our CPF?

The answer is simple - government has lost too much monies on foreign investments and poor management in GLCs like Sembmarine.

SembMarine is a Government-Linked company where directors were appointed by the government to its management board to look after taxpayers' investments.

So why can't the people have a say on such heavy loss of S$300 plus millions of taxpayers' monies due to poor management?

There have been too much losses of people's monies in various investments and projects using the people's surplus funds. It is time for the government to realize that it cannot do as it likes or stop people from querying any NKF Problems or malpractices within the GLCs like Sembmarine.

Or are there even more such malpractices? Should someone be made answerable for losses of such nature. How about MOF ? Should the minister in charge or Permanent Secretary be answerable for investments of people's tax surpluses?

Let our leaders grow up and make themselves and MOF acountable for such heavy losses as such losses affect citizens' interests and wellbeing like their retirements saving interests and costs of living as if their investments are not lost by the millions or billions more interests can be paid from GLCs' profits into paying their CPF savings.

Please note that we the people want someone higher up to be responsible for losses of people's monies through malpractices like happening in Sembmarine and not conveniently keep quiet of the whole episode.

Please note that people want the ministers to be answerable for poor management by the MOF so that they will not lose more monies which finally will affect their CPF retirement interests.

It is important to realize that unless we have people with honesty and integrity to manage people's investments there will be no point to talk about talents or retention of talents or leadership.

Let us have a government who cares to look after the people's interests so that people will not be deprived of their savings or lowering of costs and medical care and retirements.

maurizio13 SG

But many have been blindsided by the P4P and chose to believe them. In this society, there are more average and below average people, that's why how people like Mao Tze Dong come into power.

Stupid people are easier to trick.

drawer SG

One word: PAP = Sux0R!!!!!

AndrewPKYap SG

This is a fantastic observation, Mr Robert Teh.

*clap clap clap*

This directly, clearly shows why it is so critical and essential that Dr Chee Soon Juan succeed in his effort to make the despots transparent and come out of their concealment and hiding.

This directly, clearly shows why the despots are trying their best to persecute him.

This directly, clearly shows why intellectuals and the world press calls him a martyr and the despots are doing all they can, using propaganda to sully his name.

Without Dr Chee Soon Juan succeeding, we will be like the poor NKF patients under TT Durai, receiving only a small fraction of the charity's money, the public money, while he, one person takes such a big percentage.

He deprives the patients of the public money because he had taken it.

Singaporeans in this respect are even worse off than the NFK patients.

Other people contributed the money to the NFK; CPF is our own money.

We pay GST with our own money. We pay ERP with our own money to let them squander it away instead of paying us 5% interests for our CPF.

eagle SG

They didn't "squander" it la. They only increase minister pay

T.Ryousuke SG

This is the problem with ppl, scare to die so vote them, later come here complaint.

AndrewPKYap SG

deeeeep Laughing

AndrewPKYap SG

besides complaining, can support Dr Chee Soon Juan's cause....

....we have no choice but to give our support to Dr Chee Soon Juan's honorable cause.

SDP appeals for financial support [page: 1, 2, 3]