New definition

Learn recently that we are going to have our 1 millionth English word. 'Noob', I don't know what it means and seriously do not mind missing that word out of my vocab.
It is known that the average persons vocabulary is fewer than 14,000 words out of these million that are available. A person who is linguistically gifted would only use 70,000 words.

Well Singapore being all so innovative, has redefined the word "assembly" recently. As you all know illegal assembly laws in Singapore means we cannot gather in groups of 5 or more people. So seriously, I try to avoid going for class gatherings or dinner appointments, please stick to 4 and do not loiter around afterwards. But that was in the past.

For the apolitical readers of this blog, did you know under the new Public Order Act which was announced on 23 March 2009 , cause-related activities will be regulated by permit, regardless of the number of persons involved or the format they are conducted in, unlike existing regulation which defines an illegal assembly as one that involves 5 or more people.

So what that gibberish shit means is, even one person can now be defined to be of illegal assembly. Our nation’s political history has once again redefined the word "assembly"; as the gahmen took steps to further curtail the rights of Singapore citizens to freedom of peaceful assembly in the name of preserving national security.

I hardly use that word anyway ever since I left the primary and secondary school system of having morning assemblies to sing national anthems and say the pledge with a fist across my heart.



But this new redefined word by our elitist investment arm Temasek, made news on CNBC recently (Caught by Mr Lucky Tan) -Appalled and embarrassed totally. Our so called "LONG TERM" investments actually stood at 3 freaking months. I thought it was 10-20 years. What was all this press conferences and speaking for our female head honcho about looking forward about? I just felt I was being taken for a ride and right now Sillypore's a laughing stock around the world.

Anyway watch this newsclip and the bomb drops at almost the end.

"Temasek sold off all of his shares of BOA at US$7,.... a US$4.6 billion loss out of a US$5.9 billion investment, ....... this one guys, is right up there as one of the worst investments during this period for a single investment fund"- David Faber, Faber Report CNBC, 15 May 2009

We just keep making news for the wrong reasons, shouldn't heads roll for this? No apologies needed? Public funds or loose change in the tune of US$4.6 billion? That's S$1500 per Singaporean. Damn...

Accountability

I hate to account to anyone. Seriously I hate to report to my mom, dad, girlfriend on what I am doing. I may do it out of concern or love, but don't make me do it like I have to. But...it is a totally different matter when I have to report to my bosses. Why? Cos they put food on the table and pay my bills and shoes I wear. I get paid, that's why.

I pay my town councils or management to take care of my place every month, it was rather shocking when I read in the papers that my town council has lost money on minibonds. But when you have Town Councils imposing fines on those needy people who make late payments on conservancy charges at 2%; and they have excess of S$1 billion dollars (16 town councils managing more that S$2 billion in sinking funds) to have investments in stocks and minibonds/notes- This is getting ridiculous.

I thought we just have 10k odd unfortunate people losing money. Now doing some simple maths I realised a lot more people have lost, given the fact that those millions in our town councils treasure chests do belong to us.

Pasir Ris-Punggol Town Council has about 85438 HDB households covering Pasir Ris and Punggol 21; Sengkang's Compassvale & Rivervale precincts; and some estates in Hougang. Holland-Bukit Panjang Town Council has about 31921 HDB households covering Buona Vista, Bukit Timah, Cashew, Ulu Pandan and Zhenghua. (These information are found online, just need to know where to find but I am not 100% sure if its accurate, so don't quote me).

Our government charges a wide varied of S&CC to the different households. I will simplify the calculations and take each household as an entity instead of segregating into 1-room, 2-room, executive etc. Pasir Ris-Punggol TC lost about S$4mil of the ~S$154 mil it holds; per household lost S$46 in the minibonds/notes saga.

For Holland-Bukit Panjang Town Council, they are listed on Creative Technology as one of the majority shareholders with 530,000 shares currently valued at about S$1,245,500 based on today's share price of $2.35. I understand they were bought back in many years and back then the value was hovering around $25-15 a share? Now at under $3, I guess long-term investment is the way to go (~$7million poof)..wonder who will ever be able to see returns on that, maybe my great-great-grand kids(Will Mr Sim Wong Hoo be still alive?). For more on that please check out this Mr Biao site.

While Holland-Bukit Panjang TC (manages ~S$120 mil) lost about S$8 mil in the minibonds/notes saga and minimum of S$7 mil based on recent pricing of Creative shares and estimated lowest buy price. So per household in Holland-Bukit Panjang GRC lost about S$470!

Seriously, I don't see condominium management committee making such decisions. And the lucky fact is opposition town councils are making 6% returns annually (I beg to differ how the media would react if they lost $$). To think we pay our PAPPY gahmen million-dollar salaries. I say Mr Low Thia Kiang should run the CPF board, town coucils, oh hell maybe even GIC/Temasek!! - given the racking losses observed on the papers recently. I fear to see many more life savings evaporated in their treasure chest. I guess we postponed many many years of calls to distribute these hard-earned citizens money during bad times, only to find them funding lost causes/long-term investments.

Would accountability be able to solve this issue of taking citizens' money to do investments when the finances were meant for washing, painting, general works and upgrading, etc? Why wasn't the coffers used to stop payments for the needy or reduction in conservancy charges for all? Seriously...when will the mad obsession to have huge treasure chests of money by government agencies stop? Our opposition wards have very little budget/sinking fund to work with, and they have been prudent in their spending, likewise in the last oil spike scenario, where people stop buying huge tanks to drive to work - do we need a wake up call before we can reduce unnecessary wastage and lack of accountability and imprudent investments? Those individuals who have lost investments were made a mockery by the PAPpy gahmen. How about these supposedly savvy government servants who are taking citizens' monthly charges into high-risked investments? Someone has to pay or answer for this. I just hope it's not me.

Entering into another subject, would a recent talk about 2-political party system be able to stave off this debacle?