The truth unfolds...and unfolds...are there any honest bones left....?

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An honorable member of the Coffee Shop Has Just Posted the Following:

This confirms they don't have a single honest bone in their body. First they tell us that GIC's annualised 20-year REAL rate of return is 4.1 percent. Then, probably realising that the number is none too impressive, group chief investment officer Lim Chow Kiat added that their portfolio also generated a 12.4 percent annualised NOMINAL rate of return for the past 5 years. It's bad enough the chow-kuan Lim chose to compare apples with oranges, the sad fact is that the whole bushel of rotten fruit is just performing to script.

It was only recently that the Republic's sovereign wealth fund manager, with well over S$125 billion under its control, reluctantly admitted that its funds are sourced from current account surpluses, government surpluses AND CPF inflows. What they are still not willing to reveal is exactly how much CPF monies have been stashed in the hush-hush pool. While on the subject of secretive money, do note that those surpluses are the result of the present government being thrifty (planners' view) or plain mean (people's view). Money which should have been allocated for social needs, be it healthcare, public transport or affordable housing for the masses.

Does it help if they add Suppiah Dhanabalan to the board? When he was in charge of DBS, and officers were jumping ship because

- http://singaporedesk.blogspot.sg/201...nsparency.html


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