Will those causing $3 billion ShinCorp loss be paid 13th mth

robertteh SG

Past suggestions to Temasek as posted to the Feedback Unit since 2002 :-

(1) Pull back Overseas' Investments to invest them in local economy to create jobs and business opportunities

(2) Invest 20% of surpluses in endowment funds for (a) medical care (b) retirement assistance (c) Lower costs of utillity, public transportation and essential services.

(3) Cash out on risk projects upon extraordinary gains and reinvest gains in less risky bonds and blue chips.

If Temasek were to listen and be less obstinate Singaporeans would have many more jobs and our propery values might well have recovered due to surpluses working to produce a stronger domestic economy.

Who need so many high-powered scholars and talents if such people could not consider good suggestions to use citizens surpluses to benefit our own local economy.

Now will those responsible for such losses be paid the 13th month bonus? How about setting aside 80% of their salary as flexible subject to recouping of the $3 billion unwarranted Shin Corp and Global Crossing losses of citizens' hard-earned monies.

ShutterBug SG

Robert,

Are all the suggestions submitted to the Feedback Unit, HEEDED at all? Do thye really listen??

Is the Feedback Unit just like this forum here? Sort of a "Padded Room"?

robertteh SG

Shutterbug,

Yes, I posted these suggestions as mentioned. Feedback Unit could verify this fact.

Now I am wondering why we are having so many ministers who are claimed to be the talents and scholars to be paid world's highest salaries and yet they are not able to use the surpluses for our citizens' real benefits but only to support politicians in some countries.

casino_king SG

Originally posted by robertteh:

If Temasek were to listen and be less obstinate Singaporeans would have many more jobs and our propery values might well have recovered due to surpluses working to produce a stronger domestic economy.

Click here / see: Rising property prices

Atobe SG

This $3 Billion loss from the Shin Corp will be over shadowed by the "profits" made in the other ventures.

Sadly it is the bottom-line in the final overall performance of Temasek Group, will determine that 13th month pay-out.

This $3 Billion will be another peanut is the swath of multi-billion dollars that is horded and flow through the Temasek's accounting books.

The Temasek year end window-dressing exercise will justify not only the 13 month pay-out but also any likely stock-options and other bonus in Directors' Fees that can be payable.

ONE destructive shock can be covered up by the forced flow of lava that flows from the volcanic mountain, to cover up this ONE destructive shock.

Do we now understand the necessity of maintaining secrecy in Public Assets ?

Is the secrecy to protect the Country from being attacked by overseas speculators, or is the secrecy to protect the Political Management - of Singapore Public Reserves - from being attacked when too much information is known by Singaporeans.

shade343 SG

All investments comes with risk lah. If Shin corp becomes profitable in 3 years time how? Rolling Eyes

Anyway, you also not the shareholder of Temasek Holdings...

robertteh SG

Is the reason given not to disclose certain information to overseas speculators real? Against such reason or reasons, is there not a differentiation as to what should be disclosed and what need not be disclused to serve shareholders' ultimate interest for accountable governance to prevent malpractices or laxity in decision makings?

How do big corporatisations like Microsoft protect sensitive information as against disclosure for accountability to their own shareholders to prevent internal malpractices or wrong doings etc as seen in Worldcom or Enron?

Good corporate governance is the only way to govern the country and its surpluses and reserve. There is no other.

gd4u SG

That's wat ppl high up there think. So it is none of ur business even we have the ability to draw into national reserves for our investments ...

Is this right??

dragg SG

care to share who are the shareholders of temasek holdings?

durai SG

I disagree with you.

In fact, all Singaporeans are shareholders of Temasek. Temasek gets its funds from Ministry of Finance(MOF). MOF gets its funds from taxes from Singaporeans.

Temasek has been making too many overseas investments. After its establishment, how has it helped Singaporeans at all? So what if it made money? Did Temasek ever issued any back to us? But if it made losses, all Singaporeans are affected as Temasek's money is Singapore's money.

In the case of Shin Corp's S$3B, it equates to 3M Singaporeans contributing S$1000 to Thai government.

Does that make any sense to you?

Ho Ching should really step down. Temasek should make its annual report transparent to all Singaporeans.

monoslayer SG

tat is a very irresponsible comment.. it is the people's $$ leh.. Mad

ObviousMan SG

Originally posted by durai:
[b]
Temasek has been making too many overseas investments. After its establishment, how has it helped Singaporeans at all? So what if it made money? Did Temasek ever issued any back to us? But if it made losses, all Singaporeans are affected as Temasek's money is Singapore's money.
[/b]

This is the reality!
Why must Temasek report to us if we are not even their shareholders?
Singaporeans are just a cheap source of funds for Temasek, they are never the shareholders lah!
You think you can share in Temasek's profits?
(Unless you buy shares of company they control)
More likely, we will be helping them to make profits! (eg. Singtel, Starhub,etc)