RIDOUTGATE AND THE SLA SPOKESPERSON'S NIGHTMARE - YOU'RE FIRED

Someone from SLA provided certain information regarding the palatial government-owned bungalows at Ridout Road rented out to 2 ministers. Not exactly a whistleblower, but uncoordinated dissemination of information may get the government into a jam as it tries to spin a politically correct account of the affair. If there is one thing the bureaucracy will profit from this nightmare, it is to never ever allow any staff member to make public statements unless authorized. Pray for this staffer for the odds weigh heavily against him or her as the flashing exit sign beckons. There have been precedents which did not work out well for those who step on wrong toes in the corridors of power.

In 1996 during the throes of the Nassim Jade affair, Koh Beng Seng, then a deputy managing director at MAS, suddenly threw himself into the melee and announced the central bank will investigate the matter. I was piqued at the time for 2 reasons. Firstly Koh was seen as a mild and meek civil servant. It was absolutely against character to investigate a matter involving the Second Family. Secondly, if at all, the investigation ought to be conducted by CAD (Commercial Affairs Dept) since the developer of Nassim Jade was public-listed Hotel Properties Ltd. Decades later I read somewhere that it was Dy PM Goh Chok Tong who initiated the MAS move and the job landed on Koh. GCT made a statement he didn't understand why people want so many homes. He was happy to stay in just one. That seemed like a very clumsy attack on his colleagues, at a time when Goh was viewed as a seat warmer and a gangling uncomfortable politician. It is strange for Goh to publicly say what he said, and to quietly initiate a MAS inquiry. It does not add up.

Read all about it ; "Nassim Jade and all the wrong questions". For 2 decades, no one asked the questions that beg to be asked

Lee Kuan Yew publicly welcomed Koh's announcement and alluded to a clean government when a central bank inserts itself to investigate without fear or favour. I had been an observer of PAP ever since I became politically conscious in my early twenties. My younger brother and I, 4 years apart, spend hours chatting many topics under the sun, often on governmental issues. We still do today over my favourite cuppa teh tarek We have been right second-guessing the moves of LKY on several occasions. When Koh made that announcement, we both concluded it is finished for him. Lo and behold, 2 years later in 1998, Koh suddenly exit MAS. The poor fella had to take on a job in Bangkok where he failed to shine. He has since returned to circulation and holds cushy positions in establishment OCBC stable. Well rehabilitated by now.

In the 1976 general election, opposition leader JBJ said this in a rally speech:

"Mr Lee Kuan Yew has managed his fortune very well. He is the Prime Minister of Singapore. His wife is the senior partner of Lee & Lee and his brother is the director of several companies, including Tat Lee Bank in Market Street; the bank which was given a permit with alacrity, [a] banking permit licence, when other banks were having difficulties getting their licence."

LKY sued for defamation. The Wall Street Journal, a respected paper back then unlike today, wrote that “… government leaders are seeking to turn a simple statement of fact into a case for defamation.” Indeed there was nothing in JBJ quote that was not fact.

Hands down, LKY won in 1979. A most interesting thing happened in the trial missed by everybody, including all media both local and international.

In the trial, defendant brought out the case of Tat Lee Bank’s application for banking licence in 1970 which was not approved. LKY’s brother, Dennis Lee Kim Yew, was brought into the board. The following year, the bank reapplied. This time, it was approved. Michael Wong -Pakshiong, the very well respected Managing Director of MAS at the time, gave evidence. He made it clear Dennis Lee’s seat in the board of the bank did not influence the decision of MAS. The date of the second application had been contentious and wildly debated in coffeeshops. When asked in court, Wong said the second letter was dated after Dennis Lee joined the board. I remember almost choking on my coffee when I read that in the papers. Michael Wong is finished, that was my immediate thought.

Before 2 years were over, Wong exited MAS. It was a ruthless parting of ways. Chairman Goh Keng Swee, Dy Prime Minister at the time, had to give the international financial market a good reason. He claimed Wong had totally mismanaged on personnel and organisation. MAS was thought to be way over in headcount. The local market understood MAS was in the midst of re-organising in preparation for the merger with The Currency Board, a fact Goh Keng Swee knew only too well as that was his very own baby. Goh began slashing headcount, first to go, the managing director.

Knowing how power works, when a dy managing director and a managing director of MAS had no chance at all, is there any sliver of hope for that spokesperson from SLA?

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