Friday, December 15, 2006


Friday 15December 2006

The Straits Times just reported in its headlines today that iTV, a subsidary of Shin Corp, was ordered by Thailand's Prime Minister Office to pay S$ 4.4 Billion of fines after the Thai Supreme Court ruled that iTV's actions were illegal.

This saga has reached an epilogue, eh.

Now we can finally understand why the government is raising prices throughout Singapore at such a fast pace.

November 2006: Announced GST hike to 7% because it is a good time to increase

December 2006: Announced foreigner subsidy to be reduced to save an estimated S$36 million.

Guestimate of what's going to happen next...

January 2007: Probably a lull of 1 month, to let people forget

Febuary 2006: Budget 2007 will be annouced. I expect expenses to "increase" by a large margin. Probably some of the expense will used to cover the cost in the Shin Corp disaster. Why did I said so? Because if I remember correctly the news had reported that Government had reduced expenses through outsourcing non-core functions.

Lesson for Govt?

Never take other countries as the same as Singapore.

Let's lick our wounds...

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