First
NOL gone! Sold to French consortium that turned it around within one
year. Some more, with profits. Doesn't it ring a very loud bell?
Now, Keppel Corp too is going under.
Temasek
has evoked a clause in the offer made in Nov 2019, before COVID-19
Pandemic came about, and just chicken out of her offer to purchase up to
51% controlling shares, because of Keppel's heavy losses in recent time
(mainly due to the Global COVID-19 Pandemic).
What next for Keppel Corp? Sell to French consortium again? Or rename Keppel Corp to Keppel Corpse?
If
anyone were to examine the Board Of Directors and the Management Team
of Singapore's big business entities, you will generally find four
things in common:
1. Appointing scholars and academics to run the
organisation, perhaps thinking that they are God-sent to Singapore:
The Jacks of All Trades (but Masters of None, except MBA).
2.
Appointing people with no experienced, or experience in the wrong
fields, to helm the organisation. Oh, yes, credentials are aplenty of
course, and probably also smooth or impressive talkers also? Or could
they have been pulled into the organisation by long and strong ropes
(not strings, which are not too strong).
3. Appointing foreigners
to seat in important positions of influence, instead of as advisers or
consultants. Thereby, allowing them to have full control of manpower or
financial decisions that affect organisational resources and
performance.
4. Old dogs cannot learn new tricks is a truism. Not
just an old saying. Allowing a person to stay far too long in an
organisation where he/she has become too big to be moved, replaced or
sacked. In other words, he/she has made himself/herself an Empire that
he/she has become the Only Indispensable Emperor or Empress Dowager.
This is does not only gives a bad image to that organisation but is also
bad for business, new ideas and progress in leadership renewal. Most
crucially is that losses are easily and usually covered and manipulated
until the organisation goes under or go bust, until it is too late and
become too big to allow it to fail. So, ultimately taxpayers' money
becomes a very expedient but expensive commodity to save the day.
The
same glaring problems can also be found in the leadership and
management of the various government organisations and agencies. That's
why transparency and accountability have become such a huge issue. Plus
all the ridiculous cloaks and daggers to maintain absolute secrecy
about someone's remuneration and bonuses, that cannot meet scrutiny and
sunlight!
While real gold is not afraid of fire, paper cannot
cover that fire. One day, in the not too distant future a new government
is going to run the country and the truth must be revealed at all
costs. No stones should be left unturned. Justice must prevail over
Cunningham!
We may not live to see that day. But our future generations will.
Maybe I have spoken too fast? Not thinking deep enough?
Maybe our future generations would be replaced by CECA-Engineered Back-Door-Entry India Indians?
That's
why I say that the Fair Consideration Framework is not fair, and does
not work, but only a frame with no human face. It is just a frame up.
CECA
Indians have been deliberately exempted by the FCF (which can also be
the initials for "First Cover-my-ass First"?). Look into that document
(or toilet papers) carefully.
That is the reason why it is not fair to other foreign companies, especially those from China and Taiwan.
SSO
PS. Posted on behalf of SSO.
Good morning Mr SSO.
ReplyDeleteThat's what you get for having those Army Generals and Police Chiefs in running commercial entities.
Totally different World of Existence.
Even Thailand, the protests to get the Chia Liao Bee Generals out of the Cabinet.
These are the Jokers who will TANK the economy.
Their non productive only spending industries in what's chasing own shadows of warfares does NOT equate with the businesses of commercial businesses.
Just like Lim Tean said. Do they know how to balance their Balance Sheet of Profits and Losses and knows how to get revenue for running their payrolls.?
Now on Ah Gong easy access MONIES that no need their sweat and tears hard work.
They are extremely capable - capable of making themselves very rich and the people very poor.
ReplyDeleteThe irony is that it has become an embedded system that is extremely difficult to change, even with sincere efforts to do so.
ReplyDeleteUntil and unless the present stay-too-long on the Throne PAP's shamelessly self-proclaimed "Natural Aristocrates" are ousted and totally replaced, the sick parasitic systemic disease will fester until the host (Singapore) collapsed.
I do not and cannot see Singaporeans rising to the occasion to remedy all the ills.
I can only see the newly converted Singapore Citizens to rise up collectively to topple the fatuous self-indulgent and legally-corrupt bunch of Dracula Disciples. However, that day is uncertain and beyond our lifetime. Perhaps, another two generations' time.
If the time has come, it could be tomorrow or a matter of months.
ReplyDeleteDuring Philip Yeo's time, it was about bringing in good and big companies to invest here and to employ Singaporeans.
ReplyDeleteDunno who was the siao ting tong that changed all this and brought in funny companies from funny countries to invade this precious piece of land and fill up these companies with shit instead of Singaporeans.
宿命难逃。
ReplyDelete但必须得说一大部分的问题是国人优由自取。
多年来, 国人任由领导层贪婪挥霍, 没阻止, 不作防范。
Destiny is fated. However, must say that the People are complicit in the Collapse of our Society.
Despite the Apparent Greed and Splurge of the Leedership, the People are non-chalant about the Behaviour. The People stay oblivious and indifferent.
Natural disaster undeniably is difficult to overcome. With citizenry unconcern with societal wellbeing, the Deterioration and Collapse of Society is inevitable.
Be prepared for a long hard time to come.
Singaporean hv given their mandate in GE...why the frustration? Did singaporean not chose it and then feeling ill after? Its like a headless chicken running around in circle....
ReplyDelete