WON'T
GET FOOLED AGAIN [till the next boo-boo]
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HOW LOW CAN YOU GO?
It all started when some
bright sparks in SingTel decided to invest in Australia’s Optus —
paying as much as $10 billion in goodwill [that means $10 billion more than
what the company is worth]. Since then $ingaporeans have been watching SingTel
shares sink and sink… Here we go:
ALL-TIME LOW
"SingTel shares hit an all-time
low of $1.88 on Tuesday, Mar 27."
- The nation-builder
press, Mar 28 2001. $12.8 billion of SingTel's market capitalisation wiped off.
[NOTE: A point of
interest is that in July 2000, GK Goh predicted that SingTel’s share price
would hit $9.15.]
ALL-TIME LOW II
"SingTel shares jump further
to hit $1.89."
- The nation-builder
press, June 6 2001.
"One cent more than all-time
low and the technology reporter gets a hard-on."
- The Mirror of Opinion,
June 6 2001.
The nation-builder press,
Mar 27 2001.
ALL-TIME LOW III
On Friday Apr 26 2002, SingTel
shares slumped to an ALL-TIME LOW of $1.49.
It wasn't always like this. Once upon a time, SingTel shares were worth a few
dollars more. Then SingTel decided to buy Optus and pay a huge $14 BILLION for
it. Of that amount, $10 BILLION alone was for goodwill. One year ago, on Mar
27 2001, nation-builder Tammy Tan wrote a commentary about SingTel proving the
sceptics wrong over the Optus deal. She started her feature with these words,
"What a difference a year makes." Yes indeed. A future vocation awaits as fortune
teller at the Circus of Life.
ALL-TIME LOW IV
Nowadays, the nation-builder press no longer spotlights the movement of SingTel shares. So on Dec 9 2002, it was not reported that SingTel shares were now at $1.24 — a BRAND NEW ALL-TIME LOW.
"The 32-storey building at the junction of Raffles Quay and Marina Boulevard will be completed in 2004" — the nation-builder press, Aug 17 2001.
NTUC’s one-year only
help package - the nation-builder press, May 6 2002.
+ + + + +
"The 32-storey
building at the junction of Raffles Quay and Marina Boulevard will be completed
in 2004" — the nation-builder press, Aug 17 2001.
NTUC’s one-year only help package - the nation-builder press, May 6 2002.
NTUC’s $400 MILLION ZIGGURAT
While the $ingapore economy tripped, stumbled and fell in 2001, the ONLY workers union here decided to build a $400 million tower headquarters in the heart of the business district where the professionals (ie non-unionised workers) haunt.
On June 19 2002, the NTUC head and minister without portfolio, Lim Boon Heng was reported to have said the only way to staunch the outflow of jobs is for $ingapore to lower its wage costs. The NWC have just confirmed that wage cuts must happen.
$ingapore workers have already sacrificed through their 1999 CPF cuts about $7.5 billion a year. With GST confirmed to rise to 5%, workers will sacrifice another $1.32 billion a year from 2004. Altogether workers are sacrificing almost $9 billion a year to help $ingapore.
$17.6 million for poor workers, $400 million for NTUC’s tower.
No power without accountability.
THE
S.M. SPACE ENCROACHERS HAVE STRUCK AGAIN
The nation-builder
press, Oct 19 2002.
Why would a woman
throw five cats, two chairs, a table, a pile of books, documents and clothing
out of her ninth-floor flat in a Clementi housing board estate?
A
Sept 25 2002 nation-builder report showed a picture of "an angry Mr Tan Kiang
Hwa" inspecting his BMW which had its rear windscreen smashed. Was it an attack
by the S.M. Space Encroachers?
An Oct 9 2002 nation-builder report showed the charred remains of two motorcycles
which police say are the fourth time in two months that S.M. Space Encroachers
have attacked at the same spot in Hougang. A total of seven motorcycles and
six cars have been attacked to date.
Forget about the Singapore Sling, X'Ho wants to talk about that $ingapore
"thing" which is the focus of his new book Attack Of The S.M. Space Encroachers.
And who better to sit and take down notes than Alfian Sa'at?
"The ugliness I'm talking about is this manifestation of their frustrated aura.
It's a big cry for help. I'm interested in exploring what their behavior is
all about, and why they are what they are. They're so unique, these Singaporean
heartlanders, I don't think any other country displays this kind of behavior.
And it's not even an urban phenomenon, it's just a Singaporean thing."
Attack Of The S.M. Space Encroachers is sold at all good bookstores or go to
www.bigo.com.sg to order online.
To read a review of the book, pick up a copy of this week's 8 Days [Oct 24 2002]
- X'Ho Marks The Spot by David Fuhrmann-Lim.
