YPAP member Genesis Shen “thankful” that Temasek and GIC are generating income for programmes which “benefit” Singaporeans
February 27th, 2010 | 
Author: Written by Our Correspondent
YPAP member Genesis Shen has expressed his concerns about the government spending “generously” on the middle and lower income families as announced in the recent Budget speech made by Finance Minister Tharman.
In a comment posted on the YPAP Facebook, Genesis, currently a law undergraduate at NUS wrote that it may affect the PAP’s long term policy of fiscal prudence:
[Source: YPAP Facebook]
Genesis claimed that the Singapore Budget has been “reliant” on the “Net Investment Income Contribution” from Temasek Holdings and GIC which have continuously generated income for “programmes” which benefit Singaporean families.
He did not quote any examples of such programmes which are funded directly from Singapore’s two sovereign wealth funds.
Genesis also seemed to be ignorant of the fact that Temasek Holdings and GIC have lost billions of dollars in failed overseas investments which could have been better used to help needy Singaporeans.
As expected, his one-dimensional, unimaginative and sycophantic comment to please his political masters have attracted similar expressions of “support” from other PAP members and supporters.
Ibrahim Hassan added the Budget signifies that the PAP is listening to the people:
“It is indeed heartening to note that the Government has finally decided to tighten the tap on immigration by increasing the foreign worker levy. This will level the playing field for our low-wage workers, and give them added incentive to compete with the foreign workers, who will eventually cost more for companies to hire.…..Although more can be done to tighten immigration flow, particularly at the middle-income brackets, this latest measure signifies a bold move in the right direction. The Government is listening to the ground.”
Chioh Hui Leong praised the PAP for a “great job” done:
“Do not worry, I am sure with a higher educated population, Singaporeans are better equipped with knowledge for them to be more independent. Remember how we are when we are kids compared with these kids nowadays? They know so much things than us when we were young. We are already facing a global recession for the past year, if the govt still thinks that now is not the time, I wonder when exactly will the Time come?? Great job!”
When asked by the media about their views on the Budget, all the PAP MPs interviewed were equally “impressed” by the Budget and sang in unison in support of it.
In the eyes of these PAP members and supporters, it does appear that the PAP can do no wrong.
If this is indeed the case, then why did the PAP now reverse its policies to “slow” the intake of foreigners after telling Singaporeans repeatedly over the last few years that we cannot do without them?
How does it explain the billion dollar losses suffered by Temasek Holdings and GIC?
Actually, Singaporeans cannot really expect the PAP MPs or the YPAP for that matter to speak otherwise. After all, they are paid $13,000 a month just to keep their mouth shut.
As for Genesis and co, the safest way to move up the PAP hierarchy is to parrot whatever its leaders say.
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It’s obvious that Genesis Shen wants to be a PAP MP to obtain immense benefits!!
I can’t take anyone with the name Genesis seriously. Nor does his comments make any sense to me. So I can’t comment.
if he was poor, would he sing the same tunes?
Firstly, title is absurdly misleading, secondly, you took a facebook comment and questioned his lack of validity?. If you are planning to attack someone at least do it properly for christ’s sake.
What do we expect them to say really…. Young pap after all…. sigh.
Eat the same food, fart the same aroma. Any surprise?
generous? Which part of the budget helped us?
Temporary relief, which is what PAP keeps doing instead of doing real work = More Shit down the road.
I’m beginning to think Dr. Chee has more brains and logic than these bunch of million dollar retards. And that’s saying a lot.
Does the correspondent have an axe to grind with “Genesis” or is just taking an oblique potshot? Correspondents for TR need to demonstrate greater insight or else degenerate into part of the background chatter.
First, “Genesis” sounds more like a feminine name, rather than masculine. Second, “concern” seems to be on the policy of fiscal prudence. Third, Genesis’ concern seems to be over the scenario where the NIIC does NOT generate adequate returns for the Singapore Budget – the correspondent should do better homework to acquaint himself with the Singapore Budget, rather than critique an author for not specifying the page & line of the Singapore Budget that points out NIIC – this just shows the correspondent’s personal ignorance. Fourth, the point Genesis makes is NOT sycophantic – it is rather an allusion to the possibility that NIIC becomes lower (possibly because of capital losses) and should be read more as a warning and critique and a request for an answer to how this scenario will be handled.
Don’t we all do that when we were young? We’ve been conditioned since young to just parrot along and not think critically. Even critical thinking during GP class was like a drill exercise. When we come out to work, we continue our parroting, except that this time it’s our bosses’ whims and fancies. So we should just shuddup and parrot whoever whispers into our ears.
his name is Genesis??
haha
It never fails to impress me that these YPAP member’s level of self denial in their mind
At least wanna bootlick close your mouth la Genesis. Show everyone study lor, make lor, break lor, die lor…:)
Ha ha ha!
I having been saying this many times, “PAP offers Wealth, Fame, and Power.”
It is a fedual meritocracy system set up by Lee Kuan Yew in order for the Lee’s government to continue to stay in power.
It is not about the interets of the country and its people; it is about ‘whose’ interests.
Thus, being a cockroach is also an career option.
This young man know how to play golf?
Need Great Asia to introduce a good coach for him?
Ha ha ha!
how come all pap members so mature one!
D & Dogbert, are you the same person? Wah, so much creativity coming out from your mouths. Sure can earn you millions & 8.8 % pay rise. Are you pappies?
Shocking that the papist is now populated by ignorant fools like these.
Genesis has made a wrong beginning.
This statement must be the joke of the year. It appears that more and more goons are joining the PAP.
Now, I have all the reasons not to vote the PAP.
after the 2 gambling dens, lky should set up a world class circus to attract tourists, there is no shortage of clowns and Comedians in pap and ypap.
A sincere plea to the Temasek Review’s editors, I have to disagree with your decision to publish this senseless article. We all do make comments like this in facebook and I believe you know it more than we do. If you think that the authorities are stifling freedom by restricting the media, I feel that you are restricting freedom in online media by watching everyone’s comments like a spy which frightens me, a 16 year old boy. If I write pro-government words, I’ll be labelled as “sucking up to PAP.” If i write pro-opposition words, I’ll be watched. You are not promoting freedom of thoughts according to your opposition leaders’ suggestions and I’m deeply disappointed with you.
These days by just being a bootlicker agreeing with your towkay your life is going to be good, you don’t get very far in politics
Singapore is no longer in Level 1, where you can keeping talking about low crime rates equal safe to walk in the night you win votes just like that those were the aunties uncles days
It is fierce competition in this globalize world what can you bring to the table counts
Propaganda – you gotta start them YOUNG, when they’re the most impressionable. Good job, YPAP.
And what kind of a retarded name is Genesis? Another one of those born again Christians who thought it was a good idea to use the first book of the bible as a name?
Singapore – corporate fascist state, and behold Genesis, your future LEEder. Coming to a GRC near you.
“Net Investment Income Contribution”
how is it possible a young boy like that can know this term?
someone advised him or not?
i agree with human being. with a ridiculous name like that, who can take what he says seriously.
No wonder our government puts a cap on the proportion of each cohort studying in our universities for fear of lowering standards. I share the same fear now.
i love Sega Genesis..but i wont call myself tat.
Is this moron high??
Hey!! where is our local universities standard. Such craps from Genesis should be censored to safeguard the integrity of local education systems. Singapore with member like YPAP is a bane to the country which needs to be rid soonest possible.
yucks – tell this to sear who wants police to control netizens who criticise govt.
Genesis would do better if he/she concern himself/herself with gic and temasek failure in safe guarding it’s capital base and not lose so much money, as surely the amount set aside to help the poor and destitute are peanuts compared to the losses.
Go bark where it matters and bring your concern to where it matters most. But we expect nothing of you as we can clearly see where your interest lies. How often do u see ppl rewarded for making big losses? now go take up this issue and stop denying help to the poor while enjoying your privileged lifestyle.
Yucks…
If Genesis has a water tight point that cannot be debunked then i’d say u have a point.
But i do not think that helping the underprivileged will kill the goose that lays the golden egg, on the contrary, i think it’s good investment so that the next generation can proceed to better it’s lot.
As i say, amount set aside to help the poor is peanuts compared to losses incurred.
I applaud TR for bringing this to our attention. Clearly shows the lack of any intellectual depth on the part of these YPAPies.
Only a simplistic buffoon will focus specifically on Temasek and GIC with respect to the announced budget. What a clown, and with a stupid name to boot, I bet he gave himself that name. Hysterical!!
This guy Genesis is still wet behind his ears in life.
What laughable comment…I think he only read from local MSM and never read from economist and such…
Genesis yah…Eventually, most of the money comes from tax payer…and we don’t mind it…but we do mind your master drawin that huge paycheck from taxpayer’s money…
And perhaps you should go and check around, see how reliant the poor are…don’t speak as if the peanut sum given out will cost that type of over-reliance..
the persons comment is late by about 2 years.
“Net Investment Income Contribution”?
When the funds is losing its capital base?
Must be daft, this aspiring lawyer? Need to brush up on his accounting, management and finance modules.
Could also use a name change? How about Harry?
A dog should name itself after it’s master.
As I say, this chap here is just barely of age and making a comment, which displeases you. I have said many things that displease my parents. If my parents are going to scold for every single comment and watch over what I say like what you are doing presently, doesn’t that stifle freedom of speech? He’s not the minister or MP at the moment and whatever, he has freedom in whatever he wants to say. You should only start worrying if he’s your MP, but not publishing every silly comments your enemy makes. It sort of grosses out people you know. I was reading your post just now and saw an frustrated comment on this post. A moment later, after i’ve finished typing a comment, this post disappears. This shows how much you treasure the freedom of speech as much as our LEEders.
As a young boy who will be voting in 5 years’ time, you have indeed painted a very ugly image of the incompetency of YPAP members but you have also painted a pretty narrow-minded and unforgiving image of yourself.
This Genesis is totally dumb. An undergraduate of LAW? I hope such narrow minded, self denial, self praise, selfish person dont ever become a lawyer. There is no truth and justice in him. A crook lawyer in the making?
This article is rubbish. Without me even going into my views on whether or not the budget was good, the way that the writer criticises Genesis’s facebook comment commits all the crimes the writer accuses Genesis of and more.
For example, the writer presents several claims like:
-Genesis also seemed to be ignorant of the fact that Temasek Holdings and GIC have lost billions of dollars in failed overseas investments which could have been better used to help needy Singaporeans.
The great irony in a statement like that, is that he doesnt give any evidence whatsoever of such losses, no context in which such losses can be viewed, and other than “billions of dollars” which is an easy enough sum to toss around, nothing to back up such a claim. This is despite him, a few paragraphs before, critising Genesis for not stating “examples of such programmes which are funded directly from Singapore’s two sovereign wealth funds”. He demands direct examples from Genesis, and yet provides none of his own. The even funnier part? Genesis never claimed at all that there were any programmes that were funded from Temasek and GIC. What he did claim was that the NIIC from Temasek and GIC contribute to the Budget, which tends provides these programmes for the households. If the writer needs examples of programmes that have provided subsidies and direct funding from the Ministries, he clearly hasnt been reading the papers.
The writer takes Genesis’s comment, which could be intepreted to be a challenge of the fiscal prudence of the current budget proposed by the very party he belongs to, to be a “one-dimensional, unimaginative and sycophantic comment”.
Clearly the writer hasn’t thought this through.
forgive Genesis lah, he is still studying and have not go into the REAL world yet, thus is comments tend to be naieve and simplistic.
in those pa sa ma lam, there is always this guy who proclaim that he solve whatever problems and usually have a god figure near him.
the pigs have sunked to this level. this girl is acting like the guy described above.
penny wise pound foolish.
what lky lost is many many times of what the poor got.
What LKY lost in the last 2 years is many times bigger than what the poor get.
Comparing the monies that Chen Sui Pian stole in Taiwan, that amount is peanuts seed compared to the losses made by LKY.
Genesis …. Ha ha. Exodus will be next. Isarelites were slave in Eygpt for next 400 years.
Fortunately, Singaporeans no need 400 years to ‘kick’ the PAPpies out.
As for “Yucks” : so long your comments have supporting data/ published facts, no need to worry which ’side’ TR- Editor is on. Go ahead and speak your mind ….Singapore for Singaporeans.
Wisp,
You need to pull your head out of the ground.
You are not aware of the losses?
GIC and Temasek lost more than 50 BILLION and yet spending 1.4 Billion on citizens is too much???
Well done…
Must vote PAP out..
This Genesis Shen deserves a kick to his head…
wisp, stop only reading ST only, explose to other media and you will learns more that is hidding….
LOL so funny la. i love seeing these cheerleaders having a one dimensional view of things. I think their aim is to go be a political office holder to reap financial benefits.
“long term policy of fiscal prudence”? what a joke: how many millions are already LOST as a result of failed investments? some people are just plainly ignorant. they should go read kenneth jeyaretnam’s rebuttal to tharman before further embarrassing themselves!
wisp: i dont see any ‘great irony’ in the article because it is a FACT that our sovereign wealth funds have lost lots of money, which is also acknowledged in the state-owned media. so u are actually just embarrassing yourself here la.
Genesis Shen may not be a real boot licker but a sad product of the system. Allow me to share with you my own observation. During one JC reunion, I had quite an argument with some of my ex-classmates. You see unlike them I was educated overseas for my tertiary education and most of them are products of NUS and NTU. I was really astounded when they unanimously said that the poor of Singapore actually deserve to be poor as they are lazy, lack of foresight and over-dependent on the government. I am not making this up and I was really disturbed and argued with them on the States responsibility to look after its own citizens. One of my ex-classmate even suggested that the government reduce public welfare and let ‘nature’ weed out the weak in Singapore! We may be having a class of local tertiary educated young people who are so elitist in outlook that makes Papists look like moderates!
I’ve never been a big fan of the PAP. I can find problems in their policies and their handling of issues. But watching the voices on TR, I have to say that my loyalty to the Oppo has shifted. I expected much more from our Oppo than to just make fun of a PAPer’s name. Like, wth? Fight the PAP on their issues if you want, but don’t give those kind of lowblows by shaming someone’s name publicly on the net lor! His parents want to call him Genesis, so be it. Does that affect his credibility in any way? So why do the TR comments focus more on the name than the issue? Shame on you, Oppo! I expected so much more. Give the PAP a good beating for me on their policies. But I’ll have no part in it if all we’re doing is laughing at some poor guy’s name.
What’s wrong with the name Genesis! That’s what I call my son! I feel so insulted. My wife and I took a long time before deciding on that name.
This is ridiculous! I came here expecting a good, fact supported argument, where the facts support themselves. But after reading the comments, is this the best the people supporting the opposition can give? Name calling?
This is such a low blow.
No wonder everyone votes PAP. They don’t sink to such depths.
Does this Genesis know that what he is saying is being discussed and scrutinized by everyone. Working in a big law firm myself, I am concerned for him as a law graduate.
What law firm wants to touch him if he unless he is really politically connected. If he is just one of the wanna bes then it may affect him.
Same for the Sear guy.
With names like Genesis and Sear, its hard to forget. Just like Riz low.
Great Job people, nitpicking over a guy’s facebook comment and his birthname. And the fact that he’s in YPAP OBVIOUSLY makes him an unimaginative, sycophantic, one-sided parrot. You guys are certainly doing the opposition credit.
To Concerned Citizen, are you seriously branding the entire NUS, NTU cohort as ‘elitists’ just because of a conversation you had at a JC reunion?? Surely your overseas education must have taught you better than that.
To whoever wrote this article, i hope you can do better than to resort to baseless name calling and accusations. Otherwise this isn’t much different from 4chan.org. Challenging the PAP’s rule should be done through reasoned debate, not ad hominem attacks.
btw hope you did well on sat, momo pantat, hahaha..
Revelation on Sun, 28th Feb 2010 7:21 pm
momo pantat on Sun, 28th Feb 2010 7:28 pm
I can smell PAP trolls in the prowl! If you 2 are not, then you are most immature voting for your own slavery because of some name calling? Where is your priority? A little freedom of expression, expecially against odious Papist is very therapeutic to the rather stressed up Singaporeans.
To Concerned Citizen
I guess your JC must be either Hwa Chong or RJC. You’ll get that type of attitude from other JCs.
Just because it is therapeutic doesn’t make it right. Freedom of expression is one thing, slamming another person on the basis of his name is another. You can say anything you want, but if it becomes personal, that’s crossing a line. I’m sure you’ll agree with me on this.
What is my priority? It is the safe governance of our country. It is beyond which party is in charge. Concerned Citizen, has your anger blinded yourself to what is happening in this thread? There has been an accusation but no factual basis for it. It is banking on the raw emotions of the readers for its credibility. This is what will destroy our country if we let it fester.
What, then, is your priority?
“NUS student on Sun, 28th Feb 2010 9:11 pm
To Concerned Citizen, are you seriously branding the entire NUS, NTU cohort as ‘elitists’ just because of a conversation you had at a JC reunion?? Surely your overseas education must have taught you better than that.”
I am afraid that you failed in your comprehension test. I was saying that from my conversation with my local educated friends I am rather perturbed by their lacked of empathy towards the more unfortunate class of Singaporeans. I did not say all NUS and NTU graduates have that point of view but about 14 of them feels that the poor people in Singapore have some responsibility in their predicament. I am merely voicing my concerns that what if this is not just an isolated pocket of view but a much more prevalent phenomenon of tertiary educated Singaporeans holding elitist views towards their less fortunate countrymen? I must say you are really quick in making assumptions before reading carefully what was written. I am afraid that you are also a product of the system.
“Poly on Sun, 28th Feb 2010 9:37 pm
To Concerned Citizen
I guess your JC must be either Hwa Chong or RJC. You’ll get that type of attitude from other JCs.”
You almost got it right! It was ACJC.
he is obviously a character created by the pap propaganda team.
To Lee hsien tau, Ah Black, lee dua pao
My issue wasn’t with the fact that losses were fabricated, I fully acknowledge there were losses.
The irony however, is that the writer criticises Genesis for not giving concrete examples in his facebook comment, and yet doesnt give concrete examples himself for the claims he makes in an article. Surely the standard of “examples” is far higher for an article as opposed to a facebook comment.
(Randomly: Yes, I echo NUS Student’s comments:P I hope you did well momo pantat, whoever you are XD)
That the cardinal sin of PAP opposers I feel, they make claims, which very well may be true, but they often forgot to present evidence for these claims, evidence which I fully concede myself is probably findable in other media sources etc.
I reserve my judgement on whether the budget was good or not, but my gripe is with the way and basis on which the writer attacks Genesis’s comments (Requiring examples from him and calling him a sychophant) when he himself commits the very same crimes by not providing these examples for his own claims, and then shooting off accusations that Genesis is a sycophant (Which makes him sound like a one-dimensional, unimaginative sychophant of the opposition, to borrow a phrase from the writer himself)
Spoken truly like the elite. I can’t think of anything more intelligent to say as I am overwhelmed by his lack of empathy. Even if he does not have any, do not forget, those money are not his father’s to start with.
concerned citizen:
‘I am merely voicing my concerns that what if this is not just an isolated pocket of view but a much more prevalent phenomenon of tertiary educated Singaporeans holding elitist views towards their less fortunate countrymen? I must say you are really quick in making assumptions before reading carefully what was written. I am afraid that you are also a product of the system.’
the views of 14 undergrads out of the thousands studying at local universities are hardly indicative of a trend towards an elitist mentality. Even if you want to argue that local universities do let in a suignificant minority of foreigners, that still leaves a substantial majority of local students across different faculties, all with different and varied political and social views. With respect, your fears are quite unfounded.
Can we please focus on the issues at hand – the economics of the budget and the packages aimed at helping the lower/middle income Singaporeans?
Let us not get distracted by insulting each other’s names or JCs or Universities. It really reflects very badly on us as a group – i.e. the readers of TR.
Not very nice to single out a person and blasting him, right?
Another self interest fellow who wants to suck up to his bosses for his own gains. That’s the problem with Singaporeans, people are too self interest and not cohesive as a people. That’s why the govt is exploiting on this biggest weakness of our people.
I’m just surprised that someone mentioned the internet wastelands, 4chan.
@wisp: I still think there is no ‘great irony’ as you stated because TR is not making a claim when they mentioned that the gahmen really lost billions which have high opportunity costs, because the money could be used to help needy sporeans. what this ‘genesis’ did was to say the Budget is ‘reliant’ on the NIIC (is it really? how about taxes?) and in his last para says the income is used to help needy families (is it the stated aim of the NIIC to fund social programs? the causality issue is what TR is taking up here, as this guy aint makin’ himself clear).
If this wannabe is trying to sound smart and build up his political profile, he has definitely shown to others why he is not suitable to be a politician.
Law student? More like a eunuch in the making. Where’s the real analysis to critic the budget? He must have lost his balls at the YPAP initiation.
I see a future PM in the making.
Dudes, he will be more ‘ruthless’ than LHL & proclaim $5million or more per annum…
He will be a totalitarian leader.