MOF

Politician Lim Tean To Challenge POFMA Over Post On Ho Ching Salary

Politician Lim Tean To Challenge POFMA Over Post On Ho Ching Salary

On 19 April 2020 the POFMA office said "several online posts" had made false statements that Temasek Holdings Chief Executive Ho Ching had an annual salary of "around S$100 million". Minister of Finance Heng Swee Keat instructed four correction directions to be issued. One of those four include People's Voice Party (PVP) chief Lim Tean for “sharing the falsehood on his Facebook page”. Politician Lim Tean has shared that he will be challenging this latest POFMA. He questions the basis of using POFMA over an article when the truth or real information is not revealed. His view is that POFMA is being used to silence PAP critics and free speech.

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FINANCIAL AND IT LAPSES FOUND IN AG AUDIT, GOVT AGENCIES TOLD TO CLEAN UP ACT

These all reads like serious allegations of malpractice by the agencies involved. If the government went all out to rap WP for their handling of AHPTC accounts, then they should go all out to punish and shame those responsible for these lapses. But will they?

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GIC REPORTS STEADY RETURNS

SINGAPORE investment fund GIC posted brighter returns on the nation's nest egg as the world economy kept growing and financial markets stayed robust. Over five years to March 31 this year, GIC's assets across the globe returned 12.4 per cent in US dollar terms - well above the 2.6 per cent for the five years to March 31 last year.

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THARMAN: GUARANTEED RATES DUE TO GIC POOLING OF FUNDS

If the GIC managed CPF funds as a separate pool, and not together with other government assets, the interest rates that the Government has committed to would be unsustainable, Deputy Prime Minister Tharman Shanmugaratnam told Tuesday's CPF forum. Mr Tharman was responding to questions from blogger Roy Ngerng, who is being sued by the Prime Minister for defamation. Mr Ngerng fired off four questions and Mr Tharman, who is also Finance Minister, answered them in turn. Here is an edited transcript of the exchange.

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INSIDE SINGAPORE'S SUCCESS

How did Singapore become the envy of the world? In many ways, it did what competent governments are supposed to do. Quality public housing? Check. Top-notch public education? Check. An open, pro-business economy? Check. The city-state also continues to develop innovative approaches to challenges such as immigration, taxes and debt. Singaporean Finance Minister Tharman Shanmugaratnam recently sat down with Credit Suisse to explain how the country became the alpha male of the Asian Tigers and a global archetype of economic success.

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SINGAPORE BUDGET 2014 WISHLIST FOR PARENTS

The Parenthood Priority Scheme (PPS) unveiled in 2013 was supposed to provide priority allocation to first-timer married couples with a citizen child below the age of 16 (including those expecting a child) for Build-To-Order (BTO) and Sale of Balance Flats (SBF) flats to better meet their housing needs. Under the PPS, 30% of the BTO flat supply and 50% of the SBF flats will be set aside.

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Jake van der Kamp: Singaporeans not as wealthy as GDP figures suggest

We shall start by conceding the headline figures. Yes, as of the latest statistical releases, GDP at prevailing rates of exchange runs at an annual rate of about US$52,000 per person of the total population in Singapore and US$37,000 in Hong Kong, which puts Singapore about 40 per cent ahead, not just 25 per cent. The point about GDP, however, is that it is meant to be a measure of wealth.

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