Is DBS’s Fantastic Profitability Due to Its CEO’s Ability or Its Dominant Share of Its (Protected) Home Market and Its Gouging of Singaporean Consumers?
Today DBS announced that its net profit for 2023 rose 26% to $10.3 billion and its return on equity rose to 18%. CEO Piyush Gupta and DBS management awarded themselves […]
Leong Mun Wai Famously Described PSP to Me as PAP. Now It Seems He’s Shamelessly Turning It into Reform Party
Back in 2020 I held a Zoom meeting with Dr Tan Cheng Bock (TCB) from PSP. Also on the call was Leong Mun Wai (LMW). Together with me representing Reform […]
Singaporeans MAS’s $31 Billion Loss Should Concern You but the Lack of Spending Should Concern You More
A lot of Singaporeans are commenting on MAS’s $31 billion loss for FY 2022/2023. This loss was largely due to exchange losses on its holdings of foreign securities which would […]
Despite Dismal Trade Figures PAP Continue to Squeeze Singaporeans to Build Up the Stock of Foreign Reserves
Today Enterprise Singapore released the latest trade figures showing that non-oil domestic exports (NODX) declined on a seasonally adjusted month-on-month basis by nearly 15% while year-on-year exports declined by almost […]
Why Tharman is Not Fit to be President
I was greeted this morning, by the carefully choreographed news that Tharman will be resigning from his Ministerial post and from the PAP in order to run for President. This […]
Forget the Wayang Over FTX, the Reserves Are Never Going to Benefit You While PAP Remain in Power.
A few days ago Temasek announced that it was very sorry for screwing up with the FTX investment and losing your money. It admitted losses of US$275 million ($374 million) […]
Shanmugam Uses the Agency He Controls to Defend the Indefensible
It took SLA, Shanmugam and Viivian Balakrishnan one week to respond to my blog posts. I guess they needed the time to draft a response that was both arrogant, entitled […]
In a Novel Twist of PAP’s Slogan of Ownself Check Ownself, Shanmugam Gets SLA to Rent Singapore’s Largest Private Residential Property to Ownself
It is now four days since I put up my initial post asking for confirmation from the Singapore Land Authority (SLA) that Nos. 26 and 31 Ridout Road had been […]
By Hiding All Financial Information about Its Ruling Family Singapore Gets an Undeserved Reputation for Incorruptibility
I just saw a news report on the BBC that the U.K. PM, Rishi Sunak, is facing questions over shares his wife holds in a childcare agency that could benefit […]