Olam, Temasek and Singapore
For some time, I have been writing about the financial and accounting inconsistencies in Temasek Holdings, GIC, and the public records of Singapore. Even the International Monetary Fund is confused enough to re-state and then re-re-state the accumulated government surplus of Singapore. To briefly recap the questionable finances...
PAP Government has a ‘blank cheque’ to pull money out of reserves
How would you feel if I told you, there's a 100% legal way that the PAP government have set up to enable government spending of Singapore's accumulated reserves? You think any draw down on historical reserves requires presidential approval? Actually not! "Draw down" has a specific legal meaning, and guess what, when you're...
MICA’s Response Fails to Reassure
A few days back there was a comment posted on my blog by @Lengyiren drawing my attention to a posting on www.gov.sg saying that the government had rebutted my claims about the reserves. The link to the so-called rebuttal is http://www.gov.sg/government/web/content/govsg/classic/factually/factually-041012-istheresomethingwrongwithourreserves. This...
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