7/26/2013
Boon Heng the right person for Chairman of Temasek
Why are there so many complains and criticisms on Boon Heng’s promotion to Chairman of Temasek Holdings? The barrage of attacks were quite uncalled for and getting a bit rowdy and rude sometimes. I want to suggest that everyone should look at the positive side of this appointment. Put it this way, Boon Heng has the breath of experience that is incomparable and unmatched by anyone or any standard. No Singaporean has the kind of experience that Boon Heng has.
From all his portfolios, I think the two most relevant appointments to his new appointment must be the NTUC Secretary General and his special assignment to find ways to look after the welfare of the oldies. He was even sent to Japan with a team of high caliber officials to learn how to improve the welfare of old Singaporeans. These two appointments are related in one area, welfare of workers and the oldies.
Let’s see what Boon Heng can do for these groups of people with the huge funds under his charge in Temasek. This is a good opportunity for him to show that he cares for the common people, the workers and the oldies. Maybe they can look forward to more and bigger hongpaos. Maybe Temasek can fund more projects or schemes to benefit the oldies. Maybe this is exactly the intent of the Govt, put him through the training, send him to Japan to learn what can be done to better the lives of the oldies and workers. And now the Govt says, ‘Here is the money, go and do what is good for the people’. Everything seems to fit in nicely.
This is called planning and development for top level management.
There is no doubt that our Ex- veteran minister was sent and able to learn how to care for workers and oldies. However, he was wrongly sent to a place where there was/is having the highest rate of suicide by the elderlies.
ReplyDeleteWith 30% increase in suicide in Sinkies age 20 to 29 year olds, elderly Sinkies will find it not worth living in Sin with losses of their offsprings.
Certainly hates to see senior citizens mourning younger Sinkies.
No lah, I thought CPF is where the money is, no? I mean really Sinkies money lah, but unfortunately cannot take out all during old age.
ReplyDeleteIf I were PAP and based on RB's logic, I would have made Lim Boon Heng the Chairman of CPF. So that he can help the elderly to withdraw more, if not all, of their money in their old age.
@1156:
ReplyDeletePlease lah. You are being morbidly negative.
>> elderly Sinkies will find it not worth living in Sin with losses of their offsprings.
I will agree with that: you have to find outstanding reasons for living -- if you think life is a "gift". If you however think that life is a "curse" and you have no control but submit to the whims of the people who presumably "control" you, then it is best to fuck off and die -- the sooner the better, so that those of us who treasure life can enjoy it until we expire.
>> Certainly hates to see senior citizens mourning younger Sinkies.
Young Singaporeans have opportunities, resources and possibilities beyond the wildest dreams of their forebears. You are talking complete and utter bullshit.
That's why when I see my CPF every month, I feel so rich. Too bad, can see, but cannot touch.
ReplyDeleteAnyway, we'll never know if Mr Lim is a good choice or not for chairmanship of one of the world's richest private companies.
ReplyDeleteFrom henceforth, only results from his stewardship will sculpt his future reputation.
Can he deliver? Wait and see.
Sorry to remind and disappoint readers: CPF is not "your money". It is a tax taken BY LAW from you and your boss.
ReplyDeleteIf you still believe it is "your money", you are deluding yourselves...which of course, is your choice. ;-)
LIM BOON HENG IS THE BEST OF THE BESTS PERSON FOR THE JOB. OTHERWISE, WHO?
ReplyDeleteThe writer can't be serious. TH is not a charitable organisation although it has a small foundation for social purposes. We shouldn't have a blind (re investment banking) leading the non-blind.
ReplyDeleteIf you have skeletons in the closet who do you appoint to be the closet guard? The Goodyear debacle taught them the lesson never to let a honest independent-minded outsider another peep into the closet. Also LBH's appointment will give TH the excuse to keep Ho Ching as CEO longer for reason of maintaining continuity and avoiding disruption at the top.
wiki
ReplyDeleteBoard of Directors
Chairman of the Board: S Dhanabalan
Deputy Chairman of the Board: Chairman and MD of Exxon Mobil Asia Pacific, Kwa Chong Seng
Executive Director and CEO: Ho Ching
Executive Director: Chairman of Asia Pacific Breweries, Simon Israel
Executive Director: Former CEO of Singapore Exchange, Hsieh Fu Hua
Director: Former Chairman of DBS Group Holdings, Koh Boon Hwee
Director: Managing Director and Group CEO of ComfortDelGro, Kua Hong Pak
Director: Managing Director of GK Goh Holdings Ltd, Goh Yew Lin
Director: Permanent Secretary, Ministry of Finance, Teo Ming Kian
Director: Chairman of SEB, SAAB AB, Electrolux, Deputy Chairman of Ericsson, Marcus Wallenberg---
Why the assistant chairman the next in-line did not take in the leadeship succession ??
Mr Kwa Chong Seng with the impeccable resume as the Assistant Chairman of TH with so much experience should take over Temasek Holdings.
ReplyDeleteWhy die die must be chaired by a PAP member ?
http://www.psc.gov.sg/content/psc/default/aboutpsc/psc_mbs/kwachongseng.html
Mr Kwa Chong Seng
Deputy Chairman, Public Service Commission
Mr Kwa was appointed as a Member of the Public Service Commission in 1997. He has more than 40 years of experience in the petroleum industry. He retired from ExxonMobil where his last position was Chairman and Managing Director, ExxonMobil Asia Pacific Pte Ltd.
Mr Kwa also holds key appointments in other organisations. These include Chairman of Neptune Orient Lines Ltd and Fullerton Fund Management Co. Ltd.. He is a non-executive Director of Singapore Technologies Engineering Ltd, Singapore Exchange Ltd, and Seatown Holdings Pte Ltd.
Mr Kwa was conferred the Honorary Ningbo Citizenship in 1999 and Distinguished Engineering Alumni Award by the NUS in 1994. In 2005, he was awarded the Public Service Star.
He is a Fellow of the Academy of Engineering Singapore.
Readbean, go and dream some more. Ha ha.
ReplyDelete//July 26, 2013 1:05 pm//
Chairman and CEO all in the famiLee? Cannot lah. Anyway Lim Boon Heng is the BEST at you know what.
>>12:23 pm
ReplyDeleteCan lah, just migrate to thailand.
White pap or black pap does not matter, so long as can perform ie TH earns high returns and thus CPF can give high interest returns is all that matters. He should be given a KPI of CPF interest returns at leaset 5% which is in line with most pensions funds including EPF.
ReplyDeletegood to go for giving closed door speeches in the school of Rajaratnam as well.
ReplyDeleteWhat a winner!
Can just put a monkey to be Temasek Chairman. It really doesn't matter at all.
ReplyDeleteAfter all, the books are in the hands of Lee Family.
This Chairman is only just a figure head that signs name.
Let's see it as an political appointment for Mr Lim.
ReplyDelete@ 5.09
ReplyDeletesince it is a figure head role like the SG president's role then might as well get someone with the experience in the company
why dont they promote the Assistant Chairman afterall he is probably the acting chairman when the chairman is on leave
The Assistant Chairman is head and shoulders above the comparison with the PAP candidate. The management should place the interests of Temasek Holdings at heart by putting someone who is very experienced not appointing someone generally perceived by the public to be based on political affiliation.
ReplyDeleteMaybe if Asst Chairman is promoted people will say it is all in the family.
ReplyDeletewiki
ReplyDeleteThe Government Pension Fund of Norway comprises two entirely separate sovereign wealth funds owned by the Government of Norway
1 The Government Pension Fund – Global (formerly The Government Petroleum Fund)
2 The Government Pension Fund – Norway (formerly The National Insurance Scheme Fund)
1 The Government Pension Fund – Global (formerly The Government Petroleum Fund)
As of March 31st 2013 its total value is NOK 4.182 trillion ($712.7 billion), holding one percent of global equity markets :
Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global. NBIM is a separate part of Norges Bank and is responsible for the operational management of the Government Pension Fund - Global.
NBIM also manages Norges Bank's foreign exchange reserves.---wiki
It is headed by central bank governor public servant (an economist) the ceo who are
NOT politcal appointment unlike Spore .
is a fund into which the surplus wealth produced by Norwegian petroleum income is deposited UNLIKE CPF is deposited with our hard earned money.
Deputy Chairman of the Board: Kwa Chong Seng is a nephew of the PM's mother
ReplyDeleteExecutive Director and CEO: Ho Ching is the wife of the PM
Director: Kua Hong Pak ???
Director: Goh Yew Lin ?
The WP is not ready to be govt.
ReplyDeleteSo therefore not many talented will want to join WP because they will not be able to become ministers or Chairman of this and that.
And this makes WP even more not ready to be govt because not enough talents join WP.
So it is a chicken and egg problem. Or rather a vicious cycle of being forever not ready. Then what's the point? Therefore WP must break this vicious cycle, tio bo? So how to break?
To break this vicious cycle, Low Thia Khiang must first announce WP is ready, never mind it is not ready. Just announce first.
ReplyDeleteThen only those talents will join. This is called "building confidence" strategy. It's all in the mind.
If WP thinks they can do it, they will do it.
This guy was made in charge of looking after oldies but what has he done ? The most damaging thing he did was to cut the CPF rate of older workers thinking this will make them more employable ! If he had done anything effective, we won't be seeing so many of our old uncles & aunties, our mothers & fathers who toiled to bring us up, but still collecting cardboards and cleaning toilets & hawker centres for a living !
ReplyDeleteLim Boon Heng is a talent who also joined the right party.
ReplyDeleteIf he had joined the WP, I don't think he could have achieved what he had achieved!
But anyway, regardless of whether he had joined PAP or WP, I think there will still be old uncles and aunties collecting cardboards and cleaning toilets & hawker centres for a living, tio bo?
And that precisely is the problem!
Will LBH be in WP CEC if he is a WP Member.
DeleteWill WP even accept him as member?
Assuming WP become the govt, will there still be old uncles and aunties collecting cardboards and cleaning toilets & hawker centres for a living?
ReplyDeleteAnyway, this is a hypothetical question. And I remember WP leader Low Thia Khiang saying he does not like to answer hypothetical questions!
Actually me too.
Redbean, your sarcasm doesn't quite work this time.
ReplyDelete/// Put it this way, Boon Heng has the breath of experience that is incomparable and unmatched by anyone or any standard. ///
You mean bad breath? He needs to gargle with Listerine?
Hi The, I didn't know I was being sarcastic. Did I? Maybe I am having dementia.
ReplyDeleteYes Sir! Sorry, Yes Mam! Yes Mam! Buy high, sell low. Buy high, sell low. Yes Mam! Yes Mam!
ReplyDeleteBut what is a politician doing in an investment corporation ?
ReplyDeleteWhy cant they groom and promote someone from within the company without political interference?
Temasek Holidings belong and report to the ministry of finance, why must instal another pap former minister in there, will it not dilute the authority of the finance ministry ?
Yes men and Yes women who thrived in monopolies and controlled environment of Singland will not be a match to the rigors and fierce competence needed in global investing and markets.
ReplyDeleteAbsolutely NO COMMON SENSE.
Trend of take more from Sinkies/Singland to sponsor foreign investments can be expected.