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Opinion

Fellow NS men, please don’t cheat yourselves by saying that you will defend the constitution with your life

Just this February year when I went for my National Reservist training, we were told to recite the Singapore Armed Forces pledge in the seminar hall after the Division Commander reminded the servicemen about the constant threat that Singapore faces from its neighbours. “We, members of the Singapore Armed Forces, do solemnly and sincerely pledge that we will always bear …

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Sold off to the GLC’s and we are paying for it

by Brad Bowyer As I have been focusing on the Changi Airport, here are extracts from Changi Airport Group (CAG) 2009/10 annual report when Changi was corporatized, and CAG was created: At the time, the Net Assets current was $4,507,997,000 + Non-Current $2,576,101,000 – Liabilities $3,559,967,000 = $3,515,014,000 so the amount paid was about $237 million less than Net book …

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Jewel, a very expensive shopping mall that can restore Changi Airport’s shine or a massive overspend of taxpayers’ money

by Brad Bowyer Jewel was first mentioned by Prime Minister Lee Hsien Loong in his National Day Rally speech in 2013. He announced the plan to build Jewel as part of Changi Airport’s long-term plans. Jewel is developed by Jewel Changi Airport Trustee Pte Ltd, a joint venture between Changi Airport Group (CAG), manager of Singapore Changi Airport, and CapitaLand, …

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Do we even need T5 as planned?

by Brad Bowyer Singapore’s Changi Airport averaged a little over 5.46 million passengers and 32,000 flights per month in 2018. Before Jewel, it had an annual passenger handling load of 82m which has now been expanded to 85m so it was running at around 65.5m or 77% capacity. Although as most of us can attest it seems pretty empty most …

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GIC need not worries about any “net outflows” of its fund

It was reported that CEO Maarten Slendebroek of Jupiter Fund Management, one of the “crown jewels” of UK asset management industry, was replaced last month. He was replaced by ex-Janus Henderson Investors’ boss Andrew Formica. Slendebroek was being replaced at a time when Jupiter had reported a £7.5 billion drop in assets under management and net outflows of £4.6 billion …

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Financial management in Singapore is worrying

by Brad Bowyer So, Malaysia and China are going to build 648k of a rail link connecting Port Klang across the country and up the east coast to Kota Bahru. It’s an important part of the Belt and Road Initiative and will cots RM44 Billion (SGD$14.4B) after a budget renegotiation. By contrast, the Singapore Malaysia High-speed rail link is still …

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Is having an opinion also akin to “fake news”?

Reading an article which talks at length about how historian PJ Thum (Thum) has been misquoted by a Facebook page gave me some food for thought. Thum had said in earlier times that “Equally, your post could be completely accurate and factual, but could be deemed “misleading” because you omitted a fact (accidentally or otherwise). Given that it is impossible …

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Without corporate discipline, competent leadership, and firmer “hire and fire” policy, our economic future as a nation will be compromised

by Joseph Nathan Singapore Press Holdings (SPH) has just reported a 25.7% drop in 2Q19 earnings to S$29.7-million, with a 5.2% decline in revenue. It cited higher costs as its core print advertisement revenue decline further, while it’s operating income dropped by 31.6% to just S$4.5-million. I was surprised that its CEO, Ng Yat Chun, was quick to point out …

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