Distractions
1) The weeks of Scandals have distracted most of us from some REAL PROBLEMS of our economy. 2) The Iswaran corruption case, Ridout Gate Saga & the poor management of the sex scandal have dented our international image all around the world. 3) However there are more important issues most of us missed out during these few...
Hit by $7.3b loss, Temasek turns out the light on its financial statements
Santiago Principles is the generally accepted principles and practices (GAPP) that relate to the operation of sovereign wealth funds. Temasek has always boasted it maintains standards higher than Santiago. Well, it cannot say that anymore as far as financial statements are concerned. There is no audited statutory financial statements...
The 2% Finder’s Fee
About 40 years ago, Singapore was in a recession. I was running a large insurance company. The GM of a property developer X approached me. They had a large industrial property for sale. The offer price of $10 million (or thereabouts) was a big drop from the transacted price prior to the recession. The property was tenanted and...
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