LKY’s half truth: CPF fund manager GIC made 9.5% 25-year return in 2006
PAP has tried to conceal material information by disclosing meaningless figures, eg GIC 20-year returns in percentage instead of disclosing absolute numbers. One out-of-this-world figure was disclosed by LKY, chairman of GIC for 30 years, in 2006: “Over a period of 25 years to March 2006, the annual rate of return on the...
CPF members should not deny they have been screwed
The failed CPF scheme needs an urgent revamp: it affects ordinary citizens from cradle to grave. About half of CPF returns had been ‘legally stolen’ by the PAP government. This was confirmed by none other than LKY himself. In 2006, LKY disclosed: “Over a period of 25 years to March 2006, the annual rate of return on...
Failing Singapore Propaganda Holdings may be privatized if economic conditions worsen
Singapore Propaganda Holdings (SPH) is in deep shit and may go the privatization route, similar to other failures such as NOL, Tiger Airways, Chartered Semiconductor, SMRT, etc. But SPH is worse, considering it is no ordinary business but a monopoly which enjoys huge support from the government and almost every business. The...
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