Sunday, August 30, 2015

Gross Profiteering

Poor Ng Eng Hen, nobody seems to heed his no-negative-campaigning directive. Teo Chee Hean bared his fangs at a fair damsel just because she paid compliments to the Fengshan hawkerfare. Goh Chok Tong upped the ante with his version of Sun Xu's "more dogs than humans in Singapore" tirade; the fossilised has-been lambasted citizenry who "chase after bits of meat thrown by the opposition."

Looming ahead is a potential rehash of the bak chor mee saga of general election 2006. The podcast classic poked fun at the ruling party’s incessant demonising of Workers' Party (WP) candidate James Gomez, for botching up his submission of election forms. The mainstream media devoted pages and pages to what amounted to a laughable "sorry also must apologize" crusade. Then some disconnected individual thought he could hire Jack Neo to produce a “mee siam mai hum” variant in retaliation, and the rest is history.

The politicized Ministry of National Development (MND) statement about the former managing agent for Workers’ Party-run Aljunied-Hougang-Punggol East Town Council (AHPETC) “grossly profiteering” from services rendered is insidious on its own, but the enlightening response cuts to the chase:
"With regard to paragraphs 3 to 5 of your letter, we wish to highlight that arrangements between FMSS and its employees are entirely commercial and not within the control of AHPETC.  I am not aware of the matters you have highlighted therein, as AHPETC does not ask its contractors about their profitability or internal arrangements.  We emphasise that AHPETC has ensured that payments made to FMSS are in line with and within the budget provided under the tender awarded.

In any case, it is misleading and unfair to compare MA rates charged by FMSS with MAs of other town councils under the People’s Action Party (PAP), since their MAs did not submit a single bid for our public tender for MA services in 2012.  FMSS’ bid for MA services in 2012 was assessed, using the former rates charged by CPG Facilities Management for the PAP-managed Aljunied TC as a baseline.  It is also ambiguous as to what the Ministry means by an “abnormal” profit margin, when it is not clear what the other MAs’ levels of profit are in other town councils."

What is not ambiguous is that citizens' contributions to the Central Provident Fund (CPF) have a return of 2.5% while the appointed investment houses regularly trumpet Total Shareholder Return (TSR) has been 16% since inception. Perhaps MND should share their thoughts on this mode of “gross profiteering”.

Tharman provided respite to the furor when he gave assurance that the AHPETC issue is not treated as "political game", nor "aimed at putting the WP down":
"When I speak about an issue, it's because I'm worried and I want to make sure we have responsible and honest politics in Singapore, that's all."

So do we, Mr Deputy Prime Minister, we are all on the same page for responsible and honest politics. How about having a quiet chat with the minister who is hiding behind the poison pen of the MND official?

52 comments:

  1. Honesty has never been the best policy in this little red dot. This $8 cow is the worst of the lot. Time to throw them out, wasting so much public funds and energy in this crude politicking instead of solving the huge problems of their own making.

    ReplyDelete
  2. The minister with a fetish for nom de plume reminds me of Jack Nicholson's Joker character in Batman (1989), the way the mouth arches when he pretends to be happy. If he gets the boot this GE, he could try auditioning for the Joker role if they decide to hire Jack Neo to make a red dot version of Batman.

    ReplyDelete
  3. We are grossly overpaying this cow. Please return the money, or commit hara kiri.

    ReplyDelete
    Replies
    1. Why a bigger electorate yet less grants? Why are we giving excess grants? To make the books look good? Why delegate the investment role to TCs when they don't have the expertise? Shouldn't the money rest with MOF?

      http://www.tremeritus.com/2015/08/30/annual-report-suggests-ahpetc-finances-in-good-shape/

      Delete
    2. Gangster ah Loong8/31/2015 12:05 AM

      Image here: http://i.imgur.com/aHWzwTy.jpg

      The newly sanctioned AH LOong who goes around write owe$pay$. Harks back to the gangster days of the 70s whe the father was the mafia.

      I think the CPF members can all take a cue from their action and do the same flyers and stick it up the temasek asses too.

      Delete
  4. Were PAP run East Coast Town Council (ECTC) and Pasir Ris-Punggol Town Council (PPTC) overpaying their MAs for 3 years, and overpaying by more than 100%?
    See for yourselves:
    http://www.theonlinecitizen.com/2015/03/were-pap-town-councils-overpaying-their-managing-agents-by-up-to-100/

    ReplyDelete
  5. Most MPs work really hard ...... at looking after themselves, getting directorships, lump sums allowances and pensions, quango positions for the future and a seat in GLCs.
    Then you have those who works for civil service but has no qualms that his role as a GM in a Grassroots CC is a conflict of interest. It allows itself to be used a blatant tools to be politicized?! so, how noble is PAP or MND really?

    http://spd.org.sg/news/detail/tanjong-pagar-cdc-district-raised-118000-for-the-disabled-through-recycling-398.html

    ReplyDelete
    Replies
    1. Gross exagerration, gross accusation and gross insinuation by PAP.

      Simply grotesque behavior. For a party of 50 years, the people demand you open up the temasek books and reveal our CPF status . The fact that they don't even have the guts and spine to stand for open debate on tv, reveals their gross cowardice and opaqueness.

      Delete
  6. http://www.statista.com/chart/3350/pay-levels-of-world-leaders-in-perspective/

    Can someone tell us how is this also not gross profiteering?!!

    ReplyDelete
    Replies
    1. http://uncyclopedia.wikia.com/wiki/Singapore

      Speaking of gross exaggeration of an island and its rulers, let history on uncyclopedia educate the people what kind of paradise they are truly living on. You don't have to read a 16 yo amos boy blog post on his IMH abuse to know this is a sick country run by sick people with fake compassion.

      Delete
  7. // Goh Chok Tong upped the ante with his version of Sun Xu's "more dogs than humans in Singapore" tirade; the fossilised has-been lambasted citizenry who "chase after bits of meat thrown by the opposition." //


    Lao Goa's latest jibe about "meat" thrown at sinkies is the latest insult. It revealed his inner thoughts what he thinks of sinkies. Only animals like dogs chase after meats, bones and left over crumbs.

    Which dignified human being do that?

    He implied sinkies are animals like dogs.

    Sun Xu likened many sinkies to dogs.

    Seems like Lao Goa and FTs think alike in their views about sinkies.

    Sinkies could really end up chasing after "meats, bones and crumbs" thrown at them if this MADNESS is allowed to continue!

    ReplyDelete
  8. // Looming ahead is a potential rehash of the bak chor mee saga of general election 2006.//

    Sinkies taxpayers pay ministers several millions per year. Have sinkies being short-changed?

    Since 2011, Sinkieland had:

    (1) Palmergate in 2012

    ReplyDelete
    Replies
    1. (2) PRC bus drivers strike in 2012 ( a first in the last 50 years ).

      Delete
    2. (3) 6.9m PWP in 2013

      Delete
    3. (4) Little India Riot in 2013

      Delete
    4. (5) Several high profile corruption cases between 2011 to 2014.

      Delete
    5. (6) Yang Yin Saga in 2014

      Delete
    6. (7) AIMgate in 2013

      Delete
    7. (8) Fake Degree Medical Professor 2014

      Delete
  9. (9) Rampant Degree Mills "FOREIGN TALENTS".

    ReplyDelete
    Replies
    1. (10) 3rd world standard BTO and DBSS flats

      Delete
    2. (11) Lost Count MRT, LRT breakdowns in morning rush hours, evening rush hours etc etc ( Face Palm )

      Delete
    3. (12) World Oil Prices crashed from USD147 in 2007 to USD 39 on 25 Aug 2015 but MRT fares went up several times. ( Why ah? The blatant exploitation of MONOPOLY? Think carefully ..... )

      Delete
    4. (13) With dropping fuel costs etc, Marsk Shipping Line made record profits year after year but local Flagship NOL and crown jewel lost hundreds of millions year after year under the ( inept and mis- ) management of a paper 3-star general. ( Playing simulated war games in the business world with sinkies monies? Talking about a bright future for sinkieland? Or is it a blight future? For sinkies and their children? )

      Delete
    5. The list goes on ......

      Any volunteer to add to the list till 50?

      KEE CHIU!

      Delete
    6. (14) The misspelling PR fiasco of SG50?

      Delete
    7. (15) MOE Asymmetric Information-Gate of "concealing" requirement to sign "生死装" ( Life and Death Indemnity " ) by teachers for underage 12 years old at foot of Mt KK's POLICE STATION for the VIA FERRATA extreme mountaineering adventure and 10,000 ft above ground WALK THE TORQ extreme stunt without safety net.

      Even in a circus when a highly trained acrobat walks a tight rope 5 m above ground, they have a safety net below.

      How can MOE send highly underaged, immature and highly under-developed primary school kids ( to their death ) for extreme mountaineering trips without adequate warning to parents? Why many extreme risks information not made known to parents before hand?

      Delete
  10. The use of "overpayment" is a chosen word to fool people who do not are not paying full attention.

    Most would just understand it as overpayment without thinking further... and that is the craft that this man has honed.

    Usefull skill when he loses his job soon.

    ReplyDelete
    Replies
    1. To him, its overpayment but against what criteria especially when PAP TCs had not revealed the amount they pay their MAs?
      As someone pointed out in another forum, did Cow abused his position in getting the APHTEC MA profits from IRAS? Or did IRAS provide him with figure in the same way as Police provide the confidential police report by Tan Liang Hong to PAP leaders few GE back proofing civil servants and pappies are sleeping together?

      Delete
  11. Wat? Me worry?
    Vote them in....
    For more, More, MORE of the same...crap!

    ReplyDelete
  12. The "worst" gross profiteering maybe the salary and bonuses ( omg ) paid to a 3-star general running sinkieland's shipping flagship and crown jewel NOL to the ground.

    ReplyDelete
  13. There are so many far more important issues plaguing sinkieland, especially on the ground.

    Yet ministers paid several millions a year by sinkies taxpayers choose to go on "hair-splitting" exercise to no end.

    With the countless lapses in the garment since 2011 and the non-transparency of sinkies CPF investment etc, some people can keep playing the same old record about other people's slight mistake but forgot to account for the countless lapses and billions after billions of screw up of buy high sell low. When some people have a gigantic "log" in their own eye, they keep saying other people have a tiny mini weenie "speck" in the eyes. Unbelievable!

    ReplyDelete
  14. Sinkies are more worried about things that really matter.

    Such as their "BIG $$$" STUCKED in the CPF and being held indefinitely and thrown at sinkies in bits and crumbs just before they kick the bucket.

    This is UNACCEPTABLE and RIDICULOUS!

    ReplyDelete
  15. Strange things seem to be happening. .....

    Makes one wonder whether is there a "plot within a plot" .......

    (1) The COW may get a walk over or facing the "weakest alternative team".

    ReplyDelete
    Replies
    1. (2) BIG NOSE is facing "arguably the 2nd weakest team".

      Delete
    2. Unlike the suicide squad in 2006 and the "ragtag" team in 2011, the present alternative team poses a much stiffer competition.

      Delete
    3. Who knows for some reasons in the last minute, "drama" kicks in and sequel 3 to "2006 in Aljunied" or "2011 in Tg Pgr" plays out in 2015 in you know where ......?

      Delete
    4. Tensions will likely run high.

      A battle of "heartware" vs "hardware" .....

      The true colours of sinkies could be "revealed" .....

      Delete
  16. "Gross profiteering" applies when Obama who manages a geographical size of 9 million and 600 hundred thousand sq km earns less than 20% in salary and bonuses in one year than a minister who manages only a geographical area of about 9 sq km.

    ReplyDelete
  17. "Gross profiteering" applies when Obama who manages a population of 340 millions earns less than 20% in salary and bonuses in one year than a minister who manages only about 30,000 residents.

    ReplyDelete
  18. "Gross profiteering" applies when a 3-star general remunerations increased from 500,000 to 2,500,000 when the subway experienced countless breakdowns.

    ReplyDelete
  19. "Gross profiteering" applies when "meritocracy" is more in name than in substance.

    ReplyDelete
  20. "Gross profiteering" applies when Yang Yin's saga took place with no Hara-Kiri.

    Many heads rolled when the Korean ferry capsized.

    Hara-Kiri only for lower mortals? Again "one country, 2 standards"?

    ReplyDelete
  21. "Gross profiteering" applies when sinkies are milked to the max for every last drop of their blood, sweat, tears and butchered for every last pound of their flesh and bones.

    ReplyDelete
  22. "Gross profiteering" applies when sinkies are ripped off in their cost of living ( COL ) and they have to pay exorbitant price from daily necessities to sports shoes for their school kids, $6 for a miserable bowl of laksa in shopping malls, $100+ for a pair of ordinary working shoes, $5 for a toast set of 2 eggs, 1 coffee and 2 pieces of bread. Why do most of the inflated prices go to except coffers of real estate owners and garment? If all these are not rip off of sinkies adding to their burden, what is?

    ReplyDelete
  23. "Gross profiteering" applies when more than 30% of a household monthly income is used to pay for a grossly inflated pigeon hole in mid air for 25 years. It is not NOT a raid on reserve but a RAID on sinkies CPF retirement FUNDS!

    ReplyDelete
  24. "Gross profiteering " is when rental cost has shot up so high that a bottle of low end Chinese cooking wine which costs $1.70 in 2011 more than doubled in price in 2015 and retail at about $4.00 a bottle.

    Did income go up by 130% over the last 4 years for average sinkies?

    While trains breakdowns occurred so frequently, MRT CEO pay jumped 500% from 500,000 to 2,500,00 ...... ( again one country 2 system? )

    ReplyDelete
  25. Mr Khaw has voiced many opinions and perspectives for the purpose of casting doubt about the Worker's Party's integrity.

    He uses the authority of his office.
    But what interest does the ministry have about profit & loss and remuneration of employees in companies?

    Perhaps the ministry should merge with ACRA and IRAS.

    His opinions are just that. Opinions.

    ReplyDelete
  26. Whiter than white? Phui

    ReplyDelete
  27. The journey of a 10,000 miles begins with the first step .......

    A new day, a new sunrise, a new beginning .....

    A new dawn begins from the coldest moment of the night .......

    ReplyDelete
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