Kwok Fangjie

GIC suffers 60% loss as it invests in Vietnamese taxi company during a time when ride-hailing apps are on the rise

According to an article in the Tiền Phong newspaper, Singapore’s Government Investment Corporation (GIC) had realised a 60% loss over 4 years after it sold 5.4 million shares in Vietnamese taxi operator Vinasun. The taxi operator was operating a fleet of 5,000 taxis and was mainly concentrated in Ho Chi Minh City, where 4 in 5 of its taxis were stationed. In August …

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Senior Civil Servant says that PAP has been telling people the ‘hard truth’ for 60 years – is he out of touch?

After Straits Times Editor-at-large Han Fook Kwang published his opinion piece urging the 4G Ministers to speak plainly to the people, Press Secretary to the Minister for Finance, Lim Yuin Chien responded in a letter to the Straits Times Forum.  Mr. Lim said that speaking plainly does not only “mean using simple language that people understand [but] it also means telling people …

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Survey finds that Singaporeans are more dissatisfied with their quality of life and level of democracy

In a survey that was conducted by the National University of Singapore (NUS) and released last Thursday (31 May), Singaporeans felt that they have a decreased sense of achievement, less democratic rights and are less satisfied with their overall quality of life when compared to previous years. Interviewing 1,503 Singaporeans aged 15 and above, two NUS Associate Professors – Siok Kuan Tambyah and Tan Soo Jiuan …

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Retiring Ministers praised for good work by PM, but remembered by people for their unforgettable quotes

Speaking at the appreciation dinner for Dr Yaacob Ibrahim, Mr Lim Swee Say and Mr Lim Hng Kiang on Wednesday(30 May), Prime Minister Lee Hsien Loong said that political renewal has always been a key priority for the People’s Action Party (PAP). The premier said that it was “particularly difficult” for his Cabinet to lose “70 years of solid, battle-tested experience” with leaders who …

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Mahathir: Singaporeans must be tired of having the same government since independence

In an interview with the Financial Times on Tuesday (29 May), Malaysian Prime Minister Tun Dr. Mahathir bin Mohammad said that the electoral victory of Pakatan Harapan coalition would reverberate across the causeway. He added that “the people of Singapore, like the people in Malaysia, must be tired of having the same government, the same party since independence.” Tun Mahathir conceded that …

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Pro-establishment Facebook pages attack integrity of new Malaysian government as it sets new standards for transparency and accountability

Over the past weeks, two separate pro-establishment Facebook pages have made attacks against the new Malaysian government for seemingly frivolous reasons. One example is a meme posted on the 23 May by Shut down TRS, questioned whether cutting the pay of “already low” Ministers would encourage even more corruption. Despite such an allegation, the page could not show any evidence …

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