They did admit something: MM Lee said something like "we invested too early." You can see that even when they admit mistakes, they admit in style. It's like saying "we're ahead of our time."
I remember reading somewhere about a failed technology venture, and the entrepreneur said "we're ahead of our time." Admitting failure, but claiming credit at the same time!
And similarly, there's this trick to use when interviewing for a job or answering Q&A in a beauty pageant: when faced with a question like "what's your biggest failure" or "what are your areas of improvement", always twist it around to your advantage - give answers like "I pay too much attention to the details", "I work too hard", and of course "I'm ahead of my time."
