Goh Meng Seng helped me to deliver the Mandarin version of my speeches on several occasions to the investors at Hong Lim Park in the last quarter of 2008. His assistance to me, and to the investors, was invaluable.
A mutual friend told me that Meng Seng is selling his HDB flat to raise funds for the general election campaign in Tampines. He is the Secretary General of the National Solidarity Party. I check with Meng Seng to verify the accuracy of this information and he replied:
Quote
Yes, I am selling my flat to raise some funds for my campaign. As the leader of the party and the Tampines team, I need to build up my war chest in preparation for the eventual battle.I am able to do this basically because my wife and daughter are working and studying in Hong Kong and I am taking care of my aged mother (81 years old) by staying with her now. Most importantly, I am fortunate to have a very understanding and supportive wife. Freedom is not free. Pursuing Freedom and providing others the freedom of choice is not free. Some have asked me why don't I just take a personal loan. I don't like to have too many liabilities in life. On the other hand, selling my flat may serve me well. If I lose, so be it. Maybe by then, it would be much easier for me to join my family in Hong Kong to start fresh again. It is never easy to maintain a family in two places. If I win, I would be able to buy a flat in Tampines and become the Full Time MP there. Things will have to be rearranged in either outcomes.I think the most important thing is for people to realize that politics is about public service; not just opposition politics, but it is expected of the ruling party politicians as well. Public service may mean sacrifices on both financial as well as family time. Meng Seng
Unquote
My comments
Meng Seng is sincere and willing to serve the people of Singapore. I like to wish him success. I hope that Singaporeans realise the personal sacrifice that people like him have to make to make to provide an alternative voice for the people.
Monday, April 19, 2010
HDB's place in Singapore's history
Richard Lu wrote about the special place of HDB in Singapore's history and how the role has changed (in the wrong direction) over the years. Read his article here
My comments
I agree with his view that HDB flats should be kept affordable and should not be a means of generating wealth. .
My comments
I agree with his view that HDB flats should be kept affordable and should not be a means of generating wealth. .
Sunday, April 18, 2010
World Movement for Democracy
This organisation held its general assembly in Jakarta. President Yudhoyono opened the meeting. This important meeting was not covered in our Singapore media. Here is a report in Temasek Review.
From 5Cs to 5 Ks
Are Singaporeans still craving for the 5C's : Car, Condo, Credit Card, Club membership and Career?
Looks like Car & Condo will be elusive because of Higher COEs and High Property Prices for now whereas, on the other hand, looks like some are concerned about the 5K's
Kiasu (scared of losing)
Kiasee (scared of dying)
Kiabor (scared of wife)
Kiaboh (scared of having nothing)
Kiachenghu (scared of government)
LN
Looks like Car & Condo will be elusive because of Higher COEs and High Property Prices for now whereas, on the other hand, looks like some are concerned about the 5K's
Kiasu (scared of losing)
Kiasee (scared of dying)
Kiabor (scared of wife)
Kiaboh (scared of having nothing)
Kiachenghu (scared of government)
LN
US Securities Exchange Commission sues Goldman Sachs
The US Securities and Exchange Commission has taken the bold step to sue Goldman Sachs for fraud in connection with the creation of complex financial products that are sold in the market. They involve the packaging of the sub-prime mortgages into collateralized debt obligations and credit default swaps. One argument put forward by the SEC is that Goldman Sachs knew that the sub-prime mortgages were already in trouble at the time that these products were created.
This is only the first step. Many other investment banks were also involved in creating similar products and may face similar actions by the SEC.
Our equivalent of the SEC is the Monetary Authority of Singapore. I hope that our MAS will also see if there is scope for similar actions to be taken in Singapore in respect of the complex products that were sold here. These products, such as the Mini-bonds and Pinnacle Notes, have caused huge losses to the retail investors in Singapore.
Tan Kin Lian
News clippings:
http://dealbook.blogs.nytimes.com/2010/04/16/s-e-c-sues-goldman-over-housing-market-deal/
http://www.reuters.com/article/idUSTRE63F3LM20100416
This is only the first step. Many other investment banks were also involved in creating similar products and may face similar actions by the SEC.
Our equivalent of the SEC is the Monetary Authority of Singapore. I hope that our MAS will also see if there is scope for similar actions to be taken in Singapore in respect of the complex products that were sold here. These products, such as the Mini-bonds and Pinnacle Notes, have caused huge losses to the retail investors in Singapore.
Tan Kin Lian
News clippings:
http://dealbook.blogs.nytimes.com/2010/04/16/s-e-c-sues-goldman-over-housing-market-deal/
http://www.reuters.com/article/idUSTRE63F3LM20100416
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