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This is a follow-up to my earlier post "Is Singapore disadvantaged by the FTA with the US?" In his criticism of the US-SG FTA, Foong Swee Foong says it is simply ".. the transfer of parts between the two countries, the so-called supply chain, taking advantage of the zero tariffs and ease of custom procedures." He sees no value-adding, just parts moving around. During the 1990's Seagate Singapore was the biggest disk drive producer in the world. In Seagate’s hard disk drive (HDD) manufacturing ecosystem, production is distributed across a multi-tiered supply chain involving contract manufacturers and specialised service vendors. Component fabrication begins at contract manufacturing facilities, where primary structural parts are produced using processes such as metal casting, forming, or die casting, depending on the component specification. These semi-finished components are then routed to specialised subcontracted service providers for secondary proces...

Trump does not know what he is doing. He went to war with Iran with no plans. Everyone knows how the Zionists control the White House. Bibi Netanyahu forced, persuaded, or deceived (take your pick) Trump to attack Iran. NATO countries refused Trump's request to join in the fight. Iran surprised everyone with their resilence and brilliant counter-attacks in an asymmetric war with cheap drones and missiles, draining US and Israel financially. With their hold over the Hormuz Strait, Iran has the US cornered into a forever war that American public and Congress have no stomach for. Trump is now stuck and begging for a way out. You have obviously been bombarded with this kind of "news". It demonstrates which side has won the propaganda war. This is just background, not the core of what I wish to write about. However, in passing, I will answer rhetorics with rhetorics. The idea the US entered the war with no plans is a refusal to understand the scale of achievements rela...

Singapore does not produce a single drop of oil. Yet it punches way above its weight in global oil trade. It is disproportionately influential, especially in pricing, storage and trading flows. It is one of the few places where physical oil flows, financial trading and legal infrastructure all intersect. Singapore's ranking in the world of oil: - Amongst the top 4 oil trading centres in the world, together with Geneva, London and Houston. - Undisputed #1 oil hub in Asia - World's largest bunkering (ship refuelling) port. - Amongst the top 3 largest refining centers in the world. - Major price-discovery centre for refined oil products. Singapore has a “small country, big footprint” story in energy, similar to how it excels in finance, aviation, or maritime services. This hub status in energy provides Singapore a unique dimension which influences policy in a supply crisis in ways many in the public may not be fully aware. Internet chatter is loud criticising the stand of the For...

In the 1970's TV series "The Fugitive", later produced as a movie starring Tommy Lee Jones and Harrison Ford, the authorities are convinced they already “have their man” in Dr. Richard Kimble. They build and pursue a case around him because he fits the narrative -- motive (wife murdered), opportunity, circumstantial evidence. The system locks onto a suspect early, and everything afterward is about confirming that choice. Consider a purely hypothetical thought exercise, using a public case involving K. Shanmugam only as a reference point for context -- not as an assertion of fact. In complex asset structures, especially those involving property and trusts, the distinction between what is legally documented and what is economically intended is not always obvious from the outside. Assume, for the sake of argument, that an individual is in substance the settlor of a trust holding a property, even if no explicit cash transaction is visible...

In quantum mechanics, superimposition says that particles can exist in two different states at the same time "Singapore is a premier global wealth hub, ranking as the third richest city globally and a top destination for high-net-worth individuals. It thrives on trust , political stability, low taxation (no capital gains tax), and robust financial regulation, making it a key hub for wealth management, family offices, and fintech" > Monetary Authority of Singapore. Mr K. Shanmugam (Minister of Law 2008-2025) rented a state-owned GCB (Good Class Bungalow) at 26 Ridout Road in 2018.  There were some questions raised as to whether he received some preferential treatment. Rental of state properties are handled by the SLA (Singapore Land Authority). As the SLA comes under the purview of the Ministry of Law, there was public concern for conflict of interest. The matter was discussed in parliament and an internal investigation concluded  there was no misconduct. By...

The entire “cash” controversy from the Bloomberg defamation trial reveals something quite telling—not about the case, but about how people interpret language. In court, when Mr Shanmugam said the property was “paid in cash,” the meaning is straightforward to anyone familiar with property transactions. it simply means no financing was used. No bank loan, no mortgage. Just full payment through standard banking channels. It's the same in motor vehicle industry. The dealer always ask you want HP you say no, I pay cash and take out your cheque book in the good old days. Today it's digital cash. But on social media, “cash” somehow transformed into images of suitcases, armoured trucks, and whispered insinuations of impropriety goes viral. What's so unbelievable is to see so many well-educated folks getting onto the bandwagon. Something so mundane turning into serious publicity nightmare. Just imagine when this translated down to the lesser educated folks.   Let’s take that logi...