Thursday, July 14, 2005

Is S$600K peanuts?

'For a person who runs a big million-dollar charitable organisation, with a few hundred million in reserves, $600,000 a year is peanuts.' - Patron of a certain foundation
(http://newpaper.asia1.com.sg/news/story/0,4136,91455,00.html?)

If you go by that argument, in that case, our beloved Prime Minister is grossly underpaid!!!

Singapore, Inc. is the biggest organization that you can get in Singapore. Fortunately, for the benefit of us Citizen, this incorporation has an Official Foreign Reserves of US$115,216 millions as of Jun-2005! (http://www.singstat.gov.sg/keystats/mqstats/indicators.html) (https://secure.mas.gov.sg/masmcm/bin/pt1Official_Foreign_Reserves.htm)

Going by the same argument as that highly-educated and well-informed Patron, our beloved Prime Minister deserved a annual package of more than S$400 million! Wow! Unbelievable!

Do you think our beloved Prime Minister dare to draw this kind of money (S$400 mil) and expects to get re-elected? Going by the same line, do you think that particular CEO deserved that sum of money (S$600K)? Here we are talking about a charity in which a substantial portion of its funding come from the kind public donation?

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