Several journalists have asked for my response to the Ministry of Law's statement:
REPLY
Please read this statement:
http://www.tankinlian.com/
Quote
I also like to focus on another matter, namely the investment policy adopted in the investments of our financial assets. Should our two wealth funds (i.e. GIC and Temasek) adopt an active investment approach (to increase the return on our assets) or to adopt a conservative approach (i.e. avoid speculation on market timing and asset selection)?
My personal preference is to adopt a conservative approach in the investment of our assets and to use the influence of the President’s office to achieve this goal. I recognize that there may be limitation in the power of the President on this matter.
Unquote
I have no further comment.
Tan Kin Lian
4 comments:
According to the govt statement, one of the duties of the President is the
"Protection of past reserves, i.e. reserves accumulated during previous
terms of office of Government'.
Investing past reserves in a conservative manner is an indirect way of protecting the reserves. This strategy helps to protect the reserves, albeit in a small way.
The President is required
to consult the Council of Presidential Advisers (CPA) when exercising his veto
powers in connection with reserves and appointments.
The appointments of CPA members limits the independence of the President - 2 are appointed by the PM, 1 by Chairman PSC etc.
Shanmugan said the Presidency is not a separate political entity who is able to influence the Govt.
We would give more respect to this Minister if he would say outright, bold and clear,
"The President is a Puppet of the
Govt, he is there just to rubber
stamp Documents. So citizens
should stop all these nonsensical
speculations on his role.
Do I make myself clear?"
Full Stop.
Dear Mr Tan
Although the government has correctly highlighted that the President has no executive power to change policies, you are right to say that "Although the President may not have express authority to do certain things, but he can have the moral authority to look after a large number of people ... and convey the people's views to the Government." I have the deepest respect for you for stating so early this position as well as your well thought through opinions on other issues such as reserves, pardons and detention, and your pledge to use most of the President's salary to fund charity causes if elected. I will persuade people whom I know to vote for you because I believe you will exercise the soft power and stature of the Presidency to influence and speak up on national issues in the interest of the people. And I have full confidence that you will do so in the correct manner that is constructive, respectful and polite to the government, based on the gentlemanly fashion that you have been conducting yourself publicly.
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