‘Leaders must be able to take criticism, acknowledge mistakes’: PM Lee

[skyleon]

Lawrence Wong whacks Workers’ Party for distorting facts to mislead the public about PUB’s capital reserve


By Jewel Stolarchuk -

July 9, 2018


Lawrence Wong on Monday set the record straight about Workers’ Party’s allegations about PUB’s capital reserve. Wong, who is the Second Finance Minister said WP showed a “basic misunderstanding of accounting fundamentals” and that the national water agency’s capital reserve does not represent surplus funds at its disposal.

Wong pointed to a video the opposition party had posted on its Facebook page asking what was the necessity for the water price hike when the PUB’s capital reserve had gone up from $3 billion in 2007, to $5.3 billion in 2016.

The Minister explained that PUB invests most of its capital reserve in property, plant and equipment (PPE) — such as the upgrading of waterworks, expanding water reclamation plants and investments in water treatment and that the increase in capital reserve must be seen in conjunction with the agency’s growing asset base.

Pointing to how its PPE account had grown from $3.9 billion to $7.1 billion over the same time period, Wong said the “Capital reserve” on a firm’s balance sheet refers to funds reserved for long-term capital investment projects, or other large and anticipated expenses that will be incurred in the future.

“The Workers’ Party and Mr Singh have interpreted the PUB’s Capital Reserve as a hoard of cash surplus that the Government is keeping in PUB’s accounts,” Wong said. Adding: “But this is completely inaccurate, and demonstrates a basic misunderstanding of accounting fundamentals.”

New WP chief, Pritam Singh, in May had questioned the “future capital investments in water supply and transmission cohere with the large capital reserves” of PUB. The Minister explained that the capital reserve had not been sufficient to cover PUB’s investments, and the agency has had to borrow from the capital markets.

Wong then whacked the WP saying: “In short, there is no surplus cash in PUB. It is completely disingenuous to link the water price increase with the PUB’s Capital Reserve, and there is absolutely no basis to do so.


continue reading here : http://theindependent.sg/lawrence-wo...pital-reserve/


Instead of slapping the driver , the co-driver got slapped by the driver instead . The co-driver tried to act smart . why can't the co-driver asked the PAP about the mrt breakdowns , the new water tariffs that Singaporeans were charged ; the cost of living and unemployment ???

[skyleon]

The real question is why PUB needs to make these “investments” in the first question

Published on 2018-07-10 by Ghui


I note that Second Finance Minister Lawrence Wong has chided the Workers' Party (WP) for misunderstanding "basic accounting fundamentals" by querying why there is a need for the Public Utilities Board (PUB) to increase the price of water. According to reports, he said:

"PUB invests most of its capital reserve in property, plant and equipment (PPE) — such as the upgrading of waterworks, expanding water reclamation plants and investments in water treatment, said Mr Wong. The increase in capital reserve must be seen in conjunction with the agency's growing asset base, said the minister, pointing to how its PPE account had grown from S$3.9 billion to S$7.1 billion over the same time period."

This is in response to MP for Holland-Bukit Timah GRC, Liang Eng Hwa's question to the Minister of Finance, asking if he will clarify the $5.3 billion of "Capital Reserves" in PUB's accounts and whether this represents surplus funds that are at the disposal of the Government or PUB.

What Mr Wong doesn't appear to have addressed on behalf of the Finance Minister, is why there was a need to increase its PPE by so much in the first place? Is the PUB investing correctly and efficiently? What are the investments they have made and why? Are Singaporeans benefiting from the PPE increase?

Secondly, had the WP not raised the question, would this issue of PPE increase even be explained to the public? Mr Pritnam has noted that he had earlier raised the topic of PUB’s capital reserve in his speech at the President’s Address in May, but his point was not discussed at the debate back then.


"the question of the quantum of the surpluses and the prospect of alternate revenue streams and future surpluses of many Government-Linked Companies and statutory boards to better cushion price hikes on Singaporeans needs to be looked at very closely and debated before prices go up. For example on the 30% water hike, how do future capital investments in water supply and transmission cohere with the large capital reserves of the national water agency which have increased consistently from around $3b in 2007 to more than $5b in 2016?" - Pritam Singh in his May speech

The opposition parties have a duty to question policies and shine spotlights on areas where explanations are needed. In turn, it is the duty of the government to account and be transparent. It seems odd that Lawrence Wong is chiding the WP for doing their job. The point Wong has failed to address is why the PPE needs to be increased in the first place. Instead, he has chosen to evade the real question by trying to make the WP look stupid. The issue here is not accounting fundamentals. Rather it is why such investments have to be made and whether too much has been spent on PPE.

Wong has lamented that the capital reserves are insufficient to cover PUB's investments. Why then is the PUB making investments that it cannot afford?

Financial commenter, Chris Kuan has written that while WP got it wrong but he would have asked for the projected expenditure to see if PUB's Capital Reserve is overfunded.


continue reading here : https://www.theonlinecitizen.com/201...irst-question/

[skyleon]

S’pore govt can file police report against oBike for withholding deposit refund

Really call mata.

By Joshua Lee | July 9, 2018


The Singapore government would consider filing a police report against bike-sharing operator oBike, if it fails to refund the deposits it owes, according to Senior Minister of State for Transport Janil Puthucheary.

He was replying to a question by Member of Parliament Lim Biow Chuan in Parliament on July 5, 2018, saying that such a step is “possible” if oBike does not return its deposit to its customers.

Lim said filing the report will ensure a “proper accounting of the funds” that should be with oBike, but are no longer available to refund consumers.

The bike-sharing company was in the news recently after it decided to close its operations in Singapore.

“This issue falls under the Consumer Protection (Fair Trading) Act, which is overseen by the Ministry of Trade and Industry (MTI) and the short answer to the member’s question is yes,” said Puthucheary, before advising Lim to file a question with MTI to get a better understanding of the processes required.

oBike’s founder, Shi Yi, previously stated that the company owes its Singapore users S$6.3 million in deposits.



continue reading here : https://mothership.sg/2018/07/spore-...eposit-refund/

[skyleon]

SDP brings opposition parties together to hear Pakatan Harapan experience

Published on 2018-07-10 by The Online Citizen


Below is a blog post by Singapore Democrats

The SDP held a forum this afternoon where opposition parties came together to hear how the Pakatan Harapan (PH; Alliance of Hope) achieved its historic victory in the recent Malaysian elections.

The guest speaker was Mr Chua Tian Chuang, former Malaysian member of parliament and Chief of Information of Parti KeAdilan Rakyat (PKR; People's Justice Party). The PKR is headed by prime minister-in-waiting Mr Anwar Ibrahim.

In describing how the PH came to be, Mr Chua said: “It’s been a long process that required a lot of patience and compromises. It wasn't always easy but in the end we came together and managed to present a united front.

“The parties and politicians were initially reluctant to come together, but it was the people's demand to see a coalition that helped bring about Pakatan Harapan.”

The PH comprises a coalition of four parties: The PKR, Democratic Action Party, Parti Pribumi Bersatu Malaysia, and Parti Amanah. It defeated the BN after 61 years of one-party rule in Malaysia.

The victory of the PH has brought renewed hope for democracy in Singapore with Singaporeans calling for the opposition here to also form a united team for the next elections.

Some of the attendees cautioned, however, that there are significant differences between the Singaporean and Malaysian political scenes that make a replication of PH-like success in Singapore improbable in the immediate term.

Nevertheless, all agreed that the process of putting together a unified opposition that can present a credible alternative to the PAP must begin.


continue reading here : https://www.theonlinecitizen.com/201...an-experience/


What I truly hope the opposition will do is to come out with a reliastic action plan on how they would govern Singapore . What are the things they plan to and how they can help improve Singaporean lives .

[skyleon]

Dr. Koh Poh Koon warns Parliament about dangers of wages outstripping productivity. What about Ministers?

Published on 2018-07-12 by Kwok Fangjie


Speaking in Parliament on Wednesday (11 Jul), Senior Minister of State for Trade and Industry Dr. Koh Poh Koon said that the growth in wages of resident workers have outstripped productivity growth. In turn, this could have a negative effect on the economy.

The 4G leader said that this was as a result of a labour market tightness in industries such as construction and other services and may not be sustainable. From 2011 to 2017, real wages for resident workers rose by 1.9% per annum compared to productivity increases of 1.1%.

"If real wage growth outstrips productivity growth for an extended period, businesses will be at risk of losing their competitiveness and potentially be forced to scale back or close their operations".

Dr. Koh added that the government had placed emphasis on increasing. For instance, the Industry Transformation map would encourage businesses leveraging on technology so that business can make better profit margins while controlling their costs.

Concluding, he said that the government "is committed to continue to work with businesses and the unions to help businesses improve their productivity and ensure that the productivity gains are shared with workers through higher wages.”

Do the million-dollar wages of PAP ministers match their productivity?

In 1994, the late Lee Kuan Yew argued the case for higher Ministerial salaries.

“If this salary formula can draw out higher quality men into politics, whatever their motivations, I say, let us have them. I make no apologies for collecting the most talented team I could find. Without them, none of you would be enjoying life today in Singapore”.

Yet things seemed to have changed some 20 years later.

In a 2015 interview with Bloomberg, Associate Professor Michael Barr said that “The current Cabinet [in Singapore] is really a Team B.” Last month, columnist Justin Hugo opined in an opinion piece on the News Lens that the high ministerial salaries for PAP leader cannot be justified given their mediocre performance.

Noting that the Ministerial Salary formulae states that the salaries of office holders “should also be linked to the individual performance.. and the socio-economic progress of Singapore Citizens", Hugo asked if Singapore’s socio-economic progress has been stellar thus far.

He highlighted that Singapore’s “spending on social protections among the lowest in developed countries”. This led him to ask why “the government [is] intent on lining its own pockets rather than putting that money to work, [since] as many as 35% of Singaporeans living in relative poverty?”

Hugo also noted that Singapore’s economic growth or standing is not impressive. For instance, the IMF projected Singapore’s economic growth for 2018 to be a mere 2.9% while Luxembourg’s economic growth at was projected at 4.3%.

Concurrently, the Global Power City Index of 2017 - which evaluates and ranks the world's major cities in relation to their ability to attract businesses and individuals – ranks London as the first, followed by New York and Tokyo. By comparison, Singapore was ranked fifth.

The columnist then asked: “Is it fair that Xavier Bettel is presiding over a country forecast to grow 1.5 times faster than Singapore, yet [Lee Hsien Loong] pays himself nearly six times the salary? [Why is I that Lee Hsien Loong] earns more than six to 12 times that of the London mayor, the New York City mayor and the Tokyo governor?”


continue reading here : https://www.theonlinecitizen.com/201...out-ministers/

[atee]

Security and cleaner jobs already commanding 3rd world pay.

KNN. Anal doctor speaking thru his Ass!

[skyleon]

Are citizens getting more unhappy and openly critical towards PAP?

Published on 2018-07-13 by Correspondent


On Thursday (12 Jul), there were 2 photos which have gone viral on social media.

First, a photo emerged whereby a middle-aged man was seen at a provision store wearing a T-shirt with the words “F*** PAP”. On the same day, another picture emerged with a man on the MRT wearing a T-shirt which asked for the return of his CPF monies.

A tongue-in-cheek message accompanied the latter T-shirt, where the demands to return the CPF were passed from Lee Kuan Yew to Goh Chock Tong to Lee Hsien Loong. The caption accompanying Lee Hsien Loong’s image was “you ask me, I ask who. You wait long long lah”.

According to an opinion piece by socio-political commentator Devadas Krishnadas, “the fundamental source of unhappiness of CPF members… is the perception that the ‘goalposts’ are arbitrarily being changed by Government”.

Earlier this year, the CPF minimum sum was increased to $181,000 for those turning 55 in 2020 while monthly annuity pay-outs now start at 70 unless one requests to receive the monies at 65. More recently, Careshield was introduced as a compulsory disability insurance even though the criteria for pay-outs has been too stringent.

Besides the CPF issues, it also appears that residents are unhappy at the general price hikes and costs of living.

Starting 1 July, prices of water and electricity tariffs have increased by 15% and 6.9% respectively even though the PUB has been making a profit of close to $1 billion a year on average for the past 13 years. As a result, many Singaporeans are looking to tighten their belts over utility bills increase.


continue reading here : https://www.theonlinecitizen.com/201...l-towards-pap/


Come election day what will YOU do ?

[ViVianCunt]

Originally Posted by atee

Security and cleaner jobs already commanding 3rd world pay.

KNN. Anal doctor speaking thru his Ass!

They are out of touch . In fact they are the ones that cause the rising costs of Singapore.

[MyEra]

Originally Posted by atee

Security and cleaner jobs already commanding 3rd world pay.

KNN. Anal doctor speaking thru his Ass!

I bet those sons of Ministers have no ass!!
(Sang zai mou see fatt)

[MoonShining]

Originally Posted by ViVianCunt

They are out of touch . In fact they are the ones that cause the rising costs of Singapore.

Workers' levy higher than their salary , how to keep costs low ?

[skyleon]

Opinion: Opposition alliance “on the cards”; are Tan Cheng Bock & WP the key to unity?


By Andrew Loh -
July 15, 2018


Opposition unity. That term has epitomised the hopes of many Singaporeans for decades. In recent times, the call for the opposition to come together has gotten louder as the ruling party marches on with landslide electoral victories.

That hope of an opposition coalition in Singapore was revived last Saturday at a private talk held by the Singapore Democratic Party (SDP).

The SDP, seen as the biggest opposition party here after the Workers’ Party (WP), had invited the former two-term Malaysian MP, Tian Chua, to share his experiences as an opposition politician up north.

Mr Tian Chua is also the vice president of Parti Keadilan Rakyat (PKR), which is part of the Pakatan Harapan coalition which swept to victory in the recent general elections. Mr Tian Chua was barred from contesting the May elections because the Election Commission ruled that his earlier conviction for insulting a police officer disqualified him from defending his Batu parliamentary seat.

Mr Tian Chua is a well-known political activist even in his younger days, having been disqualified in 1999 as well, after he was arrested for protesting the arrest of Anwar Ibrahim, who is now the Prime Minister-in-waiting in Malaysia.

Mahathir & Anwar coming together in Pakatan Harapan

Pakatan Harapan was led by Mahathir Mohamed, the former Malaysian Prime Minister who has once again resumed his post after the victorious election. The leadership of Mahathir and Anwar has been the catalyst for the fall of Najib Razak and UMNO, the ruling coalition.

We will come back to what Mr Tian Chua said at the forum later.

Some in Singapore see the events in Malaysia as an omen of what is to come in Singapore. The expectation is that the ruling People’s Action Party (PAP) here will be similarly toppled, if only the opposition parties here would form a union like their counterparts in Malaysia.

This hope, however, is misguided, as several commentators have pointed out.

On Thursday, for example, Banyan Tree executive chairman Ho Kwon Ping described such thinking as a “foolish mistake”. He was speaking at a OCBC forum titled, “Singapore Politics and Business in an Age of Disruption”.

According to the TODAY newspaper, Mr Ho said there is a “huge and critical difference” between the two countries.

Mr Ho explained that what brought down the last government was “the unbridled, egregiously blatant and massively enormous corruption of the Najib government…”

Such blatant corruption, apparently, is not the case here in Singapore.

Indeed. To expect a similar fall of the Lee Hsien Loong government here would be delusional.

However, as Mr Ho also said, there are “unnervingly close parallels” between Singapore and Malaysia, and the lessons the PAP should learn from this. He cites “quasi cronyism amongst cliques of elites” as one example.


continue reading here : http://theindependent.sg/opinion-opp...-key-to-unity/

[skyleon]

Singapore's water supply will 'never be threatened': DPM Teo

DPM Teo Chee Hean speaking at the 14th Punggol North Racial and Religious Harmony Street Parade, on July 15, 2018.

Published Jul 15, 2018, 9:14 pm SGT

Jan Lee

SINGAPORE - Singaporeans can rest assured that the nation's water supply will remain secure, Deputy Prime Minister Teo Chee Hean emphasised on Sunday (July 15).

Speaking at the 14th Punggol North Racial and Religious Harmony Street Parade, DPM Teo said it is important for Singapore to hold on to values such as self-reliance to build a strong, resilient country.

Raising Singapore's preparations for its water supply as an example, he said: "Singaporeans will never be short of water, will always have water and will never be threatened by anybody who wants to cut our water supply off."

He also raised the importance of government programmes such as Medishield Life, CPF Life and the recently announced Careshield Life, as ways to "protect the strength of our country and not pass the burden onto our children".

DPM Teo, who is also the adviser to Pasir Ris-Punggol grassroots organisations, was joined at the event by Minister in the Prime Minister's Office and adviser to Punggol North Ng Chee Meng.

Around 10,000 residents attended the event, which included inter-generational and multi-ethnic dance performances.

There were also heritage exhibitions, cultural booths, free games and snack booths.

Mr Ng also urged residents to remain vigilant and active citizens: "While we celebrate, let us also not just enjoy ourselves, but to take action and be responsible and do our part to build a Singapore that we love."


continue reading here .... https://www.straitstimes.com/singapo...atened-dpm-teo

[skyleon]

Goh Chok Tong’s cryptic Facebook photo fuels speculation that he may “do a Mahathir”


By Jewel Stolarchuk -
July 17, 2018

A photo Emeritus Senior Minister Goh Chok Tong posted on his Facebook page last night has fueled speculation that the former head of government may stand against the ruling party in the next election – the same way Malaysian leader Dr Mahathir left his party to unite the opposition across the causeway and topple the government.

ESM Goh, who is presently on holiday in Langkawi, posted the picture above on his social media page around 10pm yesterday. The picture appears to have been taken at the Langkawi 3D Art Museum – one of the largest three-dimensional art museums in the world, that features a painting of Dr Mahathir extending his hand towards patrons.

Dr Mahathir himself posed for a picture with the same painting, when he inaugurated the museum in February 2015:

Although ESM Goh also posted some other photos from his trip to the museum, the photo of him in the Mahathir exhibit was notable – it even appeared as a separate post, apart from the post featuring the other pictures, on his Facebook page.

Some Singaporeans reacting to the picture felt that the pose and the fact that ESM posted the photo on social media was cryptic while the picture has also renewed existing speculation that ESM Goh may follow in the footsteps of the Malaysian PM, alongside his old friend and fellow ex-PAP politician Dr Tan Cheng Bock:

In May this year, rumours that ESM Goh may “do a Mahathir” with Dr Tan began spreading like wildfire after ESM Goh posted a photo on his Facebook page with Dr Tan and made a reference to Dr Mahathir.

Sharing a picture with Dr Tan from his 77th birthday bash, ESM Goh alluded to Mahathir’s stunning election victory and said: “Age is just a number, as Mahathir has proven. But it is family and friends who make that number light, meaningful and memorable. Thanks, all my friends out there.”


continue reading here : http://theindependent.sg/goh-chok-to...do-a-mahathir/


Do you think this will happen ? I doubt so .

[skyleon]

Despite repeated claims of engagement with citizens, actions of PAP leadership show that they do not care for the well-being of people

Published on 2018-07-17 by Kwok Fangjie


It was reported on Sunday (15 Jun) that Cabinet Ministers will increase their visits to the heartlands to hear people’s views on various issues. This initiative built on Finance Minister Heng Swee Keat’s vision in May, where he said that the Government will be starting a series of discussions to engage different segments of society.

Marking a departure from a previous practice where Ministers visited constituencies alone, Education Minister Ong Ye Kung said that there were now increased opportunities for residents to speak to the Ministers directly on multiple issues.

For example, residents with school-going children had approached him to discuss their views while those looking for work had talked to cabinet colleague Josephine Teo. 4G Minister Lawrence Wong also had the opportunity to interact with those who were facing issues with the Housing Board.

The 4G leader added that “speaking to residents randomly in a coffeeshop" was “a meaningful way of having a discussion series” and the participating Ministers would exchange notes after the visit to get a more holistic understanding of the issues people face.

However, not all were impressed.

On the Straits Times Facebook page, one Cassidy Andrew Goh drew a comparison to the late President Ong Teng Cheong while he was the Deputy Prime Minister. The netizen noted that Ong “would always walk around in his shirt sleeves [and] would not be accompanied by a whole jing gang of acolytes, aides, minders, grassroots leaders, and other hanger ons”.

Goh also felt that the 4G Ministers should “leave all the baggage of officialdom behind [and] insist that [their] aides do not go ahead and 'facilitate' [the interaction for them]”. He advised the Ministers to “stop strewing rose petals on the path before you so that [they can] actually see and feel what [ordinary people] feel”.

PAP promised to listen with “humility and passion” – but have they?

If this sounds familiar, it is not the first time that a senior member of the ruling party, People's Action Party has claimed that they would listen to the people.


continue reading here : https://www.theonlinecitizen.com/201...ing-of-people/


Are you currently happy with the current PAP government running the show ? Do you feel that your lives had improved under the current PAP government ?

[skyleon]

Where else do generals get to be feted as top dogs who can do no wrong?

Published on 2018-07-17 by The Online Citizen


by Augustine Low

On August 1, former general Neo Kian Hong succeeds former general Desmond Kuek as CEO of SMRT.

There was purportedly a “comprehensive global search” by SMRT, ending in the appointment of someone in our own backyard.

What a waste of time and resources. They needn’t have bothered.

The prevailing notion in Singapore is that generals are top dogs who can do no wrong. And if a general should somehow be not up to the mark, just bring in another general to get the job done.

Just what is it about the training and the experience generals undergo that gives the government such unfailing trust in them to excel outside the SAF? What baptism of fire have they been put through which prepares them to be top dogs?

It’s no secret that the SAF is a prodigious breeding ground for high fliers and PAP politicians. Dozens of high-ranking officers, many of them generals, emerge with regularity to contest elections, take on ministerial posts and infiltrate the government, civil service and government-linked corporations.

In the current cabinet we have former generals or admirals in PM Lee Hsien Loong, DPM Teo Chee Hean, Chan Chun Sing and Ng Chee Meng. Fairly recently, Tan Chuan-Jin was moved down to Speaker of Parliament from Minister. Prior to the last General Election, Lui Tuck Yew stepped down as Transport Minister. He is now Singapore’s Ambassador to Japan.

The top echelon is littered with former SAF Scholars – including PM Lee, DPM Teo, Chan Chun Sing, Ng Chee Meng, Tan Chuan-Jin, Melvyn Ong (Chief of Defence Force), Ng Chee Kern (Permanent Secretary) and Ng Chee Peng (CEO of CPF Board).

On paper, the SAF Scholarship is second in prestige to the President’s Scholarship but safe to say, it is now the passport to elitism and a quickfire route to being top dog.


continue reading here : https://www.theonlinecitizen.com/201...n-do-no-wrong/


Do you think our paper generals know how to run a business organisation ? Do you think our paper generals should be involved in politics even though they have no grass roots experience ?