Town councils
It was reported that PAP- controlled town councils lose a total of S$16m.
Is it really such a big deal?
After all, it is just 0.8% of the total amount of investible funds (S$2b).
If we were to use Temasek Holdings as a benchmark, the PAP- controlled town councils have in fact put in a credible performance!
For Temasek Holdings, the amount of losses- unrealised- in absolute terms is in billions! While the amount of losses- unrealised- in absolute terms is more than 1%!
The combined losses of the PAP- controlled town councils is only enough for 16 firework shows- assuming S$1m per show, while the losses- unrealised- by Temasek Holdings will be enough for quite a few years!
When Temasek Holdings lose such a big amount of money, Singaporeans didn't 'cry father, cry mother' like hell, but when the PAP- controlled town councils lose S$16m, Singaporeans instantly 'cry father, cry mother' like hell!
It is as if there are a lot of vacancies for 'filial sons' and 'filial daughters'!
If we were to use the opposition- controlled town councils as a benchmark, then obviously, we are betting on John McCain- instead of Barack Obama- becoming the US president!
The performance of the PAP- controlled town councils is obviously mediocre!