27 January 2015

PM Lee's Delusions About Opposition Parties

Prime Minister Lee Hsien Loong spoke with some journalists recently.

This is what he said about the (current) opposition parties.


Voting for the Best Candidate

"My vision is that when voters go and vote, you vote for the best person who can represent you. Because if you don't vote for the person who can [best] represent you, then the person you vote for may end up representing you and God help you."

20 January 2015

Does PM Lee Understand Citizens' Unhappiness With Immigration?

Prime Minister Lee Hsien Loong spoke with some journalists recently.

This is what he said about immigration.

"I think there was a strong emotional reaction when we put out the [Population] White Paper. In retrospect, if we had had a bit more time to prepare the ground to explain it, to soft sell and prepare people to understand what it is which is the issue and what we are trying to do. We should have done that, but that's water under the bridge."

19 January 2015

Transparency and Temasek

Minister of State for National Development Desmond Lee Ti-seng recently claimed that Aljunied-Hougang-Punggol East Town Council, which is run by The Workers' Party, is not transparent.

How transparent is Temasek?

Temasek boasts a total shareholder return ("TSR") of 16 per cent since inception (i.e., 25 June 1974) and 6 per cent over the past 20 years[1][2]. We can estimate its TSR for the first 20 years[3] since inception (i.e., 1974-1994) as approximately 27 per cent (or, more precisely, between 25.4 per cent and 28.8 per cent)[4].

16 January 2015

Transparency and Energy Market Authority / SP Services

Minister of State for National Development Desmond Lee Ti-seng recently claimed that Aljunied-Hougang-Punggol East Town Council, which is run by The Workers' Party, was not transparent.

Is Energy Market Authority ("EMA") transparent?

EMA, a statutory board under the Ministry of Trade and Industry, sets the guidelines for, and approves, the non-contestable electricity tariffs. Households and small businesses are the main non-contestable consumers of low tension electric power.

SP Services Ltd, the market support services licensee, provides metering and billing services to the electricity market. Its ultimate parent company is Temasek Holdings.

15 January 2015

Transparency and People's Association

Minister of State for National Development Desmond Lee Ti-seng recently claimed that Aljunied-Hougang-Punggol East Town Council, which is run by The Workers' Party, was not transparent.

Is People's Association transparent?

Extract from independent auditors' report for the year ended 31 March 2011:

"Basis of Adverse Opinion

… the financial statements of the Association [i.e., People's Association] do not include the financial statements of the Grassroots Organisations ("GRO") for the financial year ended 31 March 2011. This does not comply with the principles of SB-FRS 27 — Consolidated and Separate Financial Statements that requires the inclusion of all entities controlled by the Association in its financial statements. As at 31 March 2011, there are in total 1,803 GROs not consolidated in the financial statements of the Association. Currently, no audited financial information of the GROs prepared in accordance with SB-FRS are available and hence we do not have sufficient information to assess the financial impact to the financial statements of the Association arising from the non-inclusion of the financial statements of the GROs.

05 January 2015

Much Ado About Jubilee Babies

The Jubilee Year of Singapore's independence has arrived.
 
Minister in the Prime Minister's Office Grace Fu Hai Yien personally presented the SG50 Baby Jubilee Gift to the parents of the first baby born in 2015, with the media in attendance.