Is this a True Reflection?

Is Teng Boo calling a spade a spade because of an exogenous factor called the NEP?

Watch this.

http://www.channelnewsasia.com/news/video/tan-teng-boo-managing-director-capital-d/676260.html

<iframe frameborder="0" width="660" height="380" style="border:none;" src="http://www.channelnewsasia.com/starterkit/servlet/fragment?id=676260&view=embed"/>