Serious The real Reason why SMRT wants to Transfer assets to LTA - Temasek Needs the

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An honorable member of the Coffee Shop Has Just Posted the Following:

I figured it must be bad at STomachsick Holdings by now, but I never figured it to be this bad. It must be bleeding red from all losses from its assets in China. This sorry excuse to transfer assets from SMRT to LTA is just a pathetic ploy to get a $1 billion cash infusion into the Temasek coffers. Once this one goes through, i expect Temasek to tap the taxpayers for more money in the future. It already received money from the sale of NOL, and now it will gut SMRT for $1 billion.

We know that LTA orginally was set up with MOT money to run MRT. They incorporated SMRT whihch they later transferred to Temasek at a nominal price very much below market value. Some of these assets are the same ones proposed to be sold back to LTA now. This was the first asset infusion to Temasek and created much wealth for them while they did nothing to earn it.

Temasek then sold of 46% of SMRT to public shareholders and pocketed the money. essentially, Temasek monetarized these assets it received cheaply from MOT/LTA. This was the second asset infusion, the cash received from this public sales of shares.

Fast Forward to 2016 now. Temasek is in so much trouble, i am going to guess its from its poor performing China assets, that it has to resort to this desperate measure to squeeze another $1 billion out of the SIngapore taxpayers. They trot out the king of morons to bluff and threaten Singaporeans that it costs SMRT too much money to operate its infrastructure that it was gifted, and that the future unprofitability will result in lower quality service provided to riders. He conveniently forgets to mention that his inexperience and incompetence might be the very cause of this future unprofitability. In any case, he has been instructed by his boss WHore Jinx to make the announcement.

So they want LTA to pay $1 billion for assets that to begin with were owned by LTA. What a joke. Its like a son forcing the father to buy back the house that the father owned and gifted him originally. You see how sick and unscrupulous the PAP really is. At this rate, they will run out of assets to sell pretty soon. Who is next? NOL and SMRT have already been tapped for money. SIA and Changi Airport next?

Its really time for voters to see that the only thing the PAP is exceptional in is deceit and creative accounting. There is no real talent at work here, no real improvements or returns are being generated.


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