6/02/2008

Transparency versus behind the scene dealings

PN Balji was not too happy that Tan Kin Lian took the issue with NTUC Income public. To Balji, it is better done behind closed doors. I thought transparency is good. Now that the issue is open and no matter the messenger or the way it is being done, right or wrong must be upheld, and so must be the insterest of the consumers. In this case, Balji's conclusion is that because of the way it was aired in public, the consumers will suffered. He is presuming that all the great leaders will take it personally and will dig in their heels at he expense of the innocent consumers. I believe our leaders are objective and rational people and will rise above personal differences and will put the interest of the consumers first. Let's see if I am right or Balji is right. Will the consumers be better off or at least not be worst off.

6 comments:

Anonymous said...

Oh no...not him again.I dislike reading his articles....one day when he is 70,and unable to work properly,he will think back at his shamingly low level of journalism....and perhaps question his role in this world.

redbean said...

well, he is just exercising his professional view as a journalist. and we are also exercising our professional views as bloggers.

Anonymous said...

Aiyoh, what transparency? Singaporeans or consumers are transparent alright, because their views are not important, ie just like a glass door.

Now that we know NTUC income made an average investment return of 7.8% over the last 10 years, I wonder whether they will do anything about the bonus cuts made few years back when they revised their investment returns downwards to 5.25% in 2002 and later to 4% in 2003. And that was during the tenure of the ex-CEO. Have policyholders been short-changed?

redbean said...

that one he got to answer. 7.8% return and cut bonuses to 4%. can the policyholders expect to get better returns under the new formula?

Anonymous said...

The returns under the new formula is projected to be slightly (and I mean minutely) better but in the longer term looks more uncertain because what you are going to get in terminal bonus depends on the performance of the investment fund at the time of policy maturity. So, it is trading a certainty for an uncertainty, but, ahem, trust the Union Chief's assurances.

redbean said...

we better trust them. not only that they are handpicked and men of high integrity, we have even left our future in their hands. since we can do that, then we should have full faith that what they are doing are for our own good.

our future is in good hands.