Government Shakes Off NCMP’s “Wild” Spending Charges
What Leong Mun Wai Had to Say
Back in Monday’s Parliament, NCMP Leong Mun Wai voiced his frustration with how the government manages public money. He claimed the Ministry of Finance had been hand‑waving on several big deals, specifically the Singapore Sports Hub and the SPH Media Trust (SMT) transactions. In a nutshell, Leong argued:
- SPH should have shed about $900 million of its own cash rather than relying on a government‑backed $180 million over five years.
- The Sports Hub valuation was “overly generous,” meaning the government might be paying more to a private consortium than necessary.
- He feared the money could be better spent on shielding Singaporeans from a two‑year GST hike or expanding the ComCare benefit package.
Minister Indranee Rajah Calls Out the Drama
In response, Minister Indranee Rajah, who also heads the Finance Portfolio, told the House that the government has already walked through the numbers with Leong in detail. She said:
“If the numbers are clear and Leong still insists, the only conclusion is that he’s trying to stir up needless anxiety for his own agenda.”
Dr. Rajah reminded her colleagues that Leong, with three decades of business acumen, should have no trouble grappling with the figures. The minister urged Parliament and the public to dismiss the “bogus” accusations and stay on the side of fiscal responsibility.
SMT: Why the Government Needs a Trusted Local Media Hub
The SMT plan is more than just a financial deal – it’s about safeguarding a trustworthy news source that reflects a distinctly Singaporean viewpoint. Rajah noted that if the restructuring had forced shareholders to keep an even larger share of the investment, the whole pact would crumble, and Singapore might see an erosion of its domestic English, Chinese, Malay, and Tamil media landscapes. That, she added, would be a total national disaster.
The Sports Hub: What the Exit Cost Means
Regarding the Sports Hub, Rajah clarified that the $1.5 billion termination fee largely covers capital costs the government would have borne under a conventional procurement model. In other words, it’s a “financially neutral” move that yields the same outcome whether or not the partnership continues.
Leong’s “Logical Jumps” and the Government’s Stance
Leong combined the SMT and Sports Hub arguments into a “giant edifice of figures” that, according to Rajah, follows with an “illogical leap” to unrelated fiscal concerns. She blasted the tactic as an attempt to paint the cabinet as careless with public money:
“It’s little more than an elaborate narrative to make us look wasteful. That’s not even close to the truth.”
Finishing Touches: The Pandemic Story
Rajah finished by reminding everyone that the country weathered the COVID‑19 crisis without dipping into debt, thanks to prudent budgets. Despite repeated opposition calls like Leong’s push to lean on reserves, the government continued to say “no” to reckless spending.
Bottom Line
In a nutshell, the government’s response reaffirms its commitment to transparency and responsible fiscal management. Meanwhile, Leong’s passionate plea for reevaluating two major deals—though spirited—has been dismissed as an unfounded attempt to sow doubt. The public is encouraged to trust the official narrative and keep an eye on the next moves from Parliament.
