SINGAPORE - Singapore's competition watchdog is seeking public feedback on whether a proposed cooperation pact between Singapore Airlines (SIA) and Vistara for flights to and from India could adversely affect passengers.
The application for collaboration between the two airlines, submitted to the Competition and Consumer Commission of Singapore (CCCS) in November, could merge 16 routes that the two airlines now ply separately, including flights from Singapore to Indian cities including Mumbai, New Delhi, Kolkata and Hyderabad.
Concerns that the reduction in flights could affect ticket prices and seat capacity can be submitted to the CCCS till Dec 21. ST
If this pact is seen as important enough to ask the public for their opinions, not just for show, do you think the bailing out of a failed Indian bank, Lakshmi Vilas Bank, involving at least $460m is more important and warrants a similar opinion from the citizens whose money are at stake? Don't say it is not the people's money, any big losses someone has to bear and it will go down to Singaporeans bearing it. And Singaporeans are feeling cheated when their CPF savings did not seem to belong to them when all kinds of schemes, supposedly good for the Singaporeans, are introduced to take money from their CPF accounts, by legislation, without their consent or even asking them if they agree to it like this SIA Vistara pact.
We are all watching how the bailing out of the failed Indian bank going to turn out and how much of public money is going to go down the drain if it fails. Looking at all the sharks lining up to make claims against DBS India is frightening and shocking. Were these claims and lawsuits taken into consideration before plonking $460m into the exciting deal? If the creditors succeed, is there a bottom line to pay for the debt of Lakshmi Vilas that have nothing to do with DBS?
Why no asking of public opinion on such a big sum of money being spent? Oh, ok, commercial decision. But then, how much time were put in before this decision was made? How much due diligence?
Do you think the people should be consulted?
Is it a test-ballon or is it a foregone conclusion?
ReplyDeleteI think, as usual, this CONsulting or asking for feedback from the public has been an exercise for wayang kulit display only. The ultimate and final decision or say rests in one man only. Or in this case, one woman only.
Moreover, this woman is very powerful and strong-willed. Whenever and whatever she wants, she gets with substantial satisfaction, if not full satisfaction.
Without doubt, the half of a man will have to obey the half of a woman, known amongst netizens as the Empress Dowager.
Asking for public feedback is truly 'ahem ahem' stuff.
ReplyDeleteJust like debating issues in Parliament, when the final decision is already made and a waste of time.
By the way, is the Waterloo Kuan Imm temple now under the auspices of the you know who? The authorities are waiting for goldmine entities to make a fatal mistake and then it is in their hands, lock stock and barrel. For safekeeping, they will tell you.
DBS is a 100% home grown bank and it holds a special place and pride in the hearts of many fellow citizens and like many fellow Singaporeans, I am not in favour of DBS India’s involvements in LVB.
ReplyDeleteI do not wish to ever see DBS being bruised badly in the Indian market. I worry that the odds are stacked very high against DBS India.
Think.
Simon Lim
You see, those who manage and use OPM are smart. DBS India, and by association DBS Singapore, are in deep shit after their attempted merger with LVB. I do not think the Government asked the public for feedback in that case?
ReplyDeleteIf they did then and the public agreed, then any shit now thrown at DBS cannot then solely be blamed on DBS.
Now they have learned a lesson and are asking for public feedback on co-operation between SIA and Vistara. if the public feedback is positive, any resemblance to what happens with DBS bank, can always be scapegoated and they can rest easy.
Isn't SIA and Vistara also a commercial decision?
ReplyDeleteIn fact I would be more concern about DBS. My savings with them are more important than shareholders of SIA of which I am not.
In this desperate time, the desperate is seeking a desperate solution as the only possible move to recover.
ReplyDeleteDesperado SIA, of 1st world Singapore, is seeking to link up with Desperado Vistara of 3rd world India.
As the two Desperadoes join together, they become one big Super Desperado.
One big Super Desperado will end up with one Super Huge Losses in the end. That is for sure.
How can a non-corrupt Singapore link up with a well-known highly corrupted India to do business and expect a clean outcome, without losses - without money siphoning going into some sleazy people's untraceable off-shore bank accounts???
Still never learn from past experiences.
Either there are real idiots at the helm or there are cunning snakes scheming to fatten their own pockets in a round-about manner. Either way, it is not good for Singapore and Singaporeans.
Ya, ya, not simply just imbeciles.
ReplyDeleteSomething fishy going on.
Just like clean water mixing with shit water.
From drinking too much shit water from NEWATER, our leaders are now having shit in their brains.
ReplyDeleteThis blog does not need a parrot that can only repeat one sentence but contribute nothing to the discussion.
ReplyDeleteAlso, please do not attack another blogger. You can disagree and share your alternative views, no problem. But attacking another person is not acceptable here.
ReplyDeleteI never believe our feedback really matters. Sometimes I think such feedback are just letting the elites know and enable them to tailor their policies to screw us even more.
ReplyDeleteFor example, after increases in transport fares, they will say that feedback from commuters show that the increase is not too prohibitive. Then show on MSM and maybe ask some Tom, Dick Or Harry to utter favourable support for the increase. If someone is against the increase, would the MSM air his views? I doubt it.
A Bangladeshi worker was sentenced to death on Monday (Dec 14) for murdering his domestic helper girlfriend in a Geylang hotel, Singapore, two years ago.
ReplyDeleteAhmed Salim, 31, was convicted of killing his girlfriend of six years after a tryst in the Golden Dragon Hotel on Dec 30, 2018, when she refused to leave another man for him.
Ahmed Salim was married at the time of the offence.
Voilence In India - A Natural Phenomenon?
ReplyDeleteIndian police have arrested more than 100 workers who went on a rampage at a Taiwanese-run iPhone factory near Bangalore.
Footage on social media showed smashed CCTV cameras and glass panels, broken lights and a car set on fire at Wistron Infocomm's manufacturing facility, owned by Taiwanese.
The workers claim that they have not been fully paid for four months and are being forced to do extra shifts.
Wistron said that it "pledged to follow local labour laws".
In a statement to the AFP news agency, the company said that "the incident was caused by people of unknown identities from outside who intruded into and damaged its facility with unclear intentions".
This incident happened as Apple is preparing to start making iPhones in India.
Bangalore is India's technology hub.
The violence broke out as about 2,000 workers from the night shift were leaving the building at Narsapura on Saturday.
They went on a rampage, ransacking the offices of senior executives, destroying furniture, assembly units and smashing glass panels and doors with rods.
Violence in India is a natural phenomenon with people of low education instigated by people with ulterior motives to exploit them for selfish gains, be it political or financial.
DBS India had better take note and be prepared that such incidents may happen to any or some of the 350 branches of LVB that it has now taken over.
India's PM Modi's Ruthlessness Is Now Manifesting Clearly For The World To See
ReplyDeleteIndian farmers are holding a day-long hunger strike to put pressure on Prime Minister Narendra Modi’s government to repeal a set of new farm laws passed recently.
Tens of thousands of farmers across India began their hunger strike at 8am (02:30 GMT) on Monday and will end it at 5pm, as farmers’ unions intensified their agitation for the 19th day.
The Modi government does not seem at all moved by such protests and hunger strikes. This is the type of government that Singapore's SIA and DBS are dealing with.
Think.
The most we lose is OPM only mah.
ReplyDeleteRBI, DBS to ask Indian Supreme Court to move numerous litigation cases on LVB-DBS merger to one location
ReplyDeleteThe Reserve Bank of India and DBS Bank are planning to ask the Supreme Court for a transfer of all the vexing matters related to merger of Lakshmi Vilas Bank (LVB) with DBS Bank India to one location. Currently petitions challenging the merger were filed in mind boggling four different high courts in the country.
Senior Advocate Mukul Rohatgi for DBS Bank informed the Madras High Court that RBI and DBS Bank have approached the Apex Court to transfer of all matters related to the LVB-DBS merger currently being heard by the High Courts of Madras, Bombay, Karnataka and Delhi to one location. He made this submission during the Madras High Court's hearing of a petition filed by bond holders of LVB challenging the banking regulator’s decision to extinguish tier-2 bonds worth Rs 320 crore (58 million Singapore Dollar).
After hearing the submission, a division bench of the Madras High Court, consisting of Justice Vineet Kothari and Justice M S Ramesh, said that it would wait for the Apex Court's decision, following which it will decide on taking the petitions forward.
It may be noted, the same bench had, last month, asked DBS Bank India Limited (DBIL) to create a separate reserve fund, if the Court decides Lakshmi Vilas Bank (LVB) shareholders should be compensated. The matter is expected to come up for further hearing.
Today's (Dec 14) hearing was related to a Bond holder's petition that challenged RBI’s decision to extinguish tier-2 bonds worth Rs 320 crore (SGD 58 million). The bond holder argued that the Centre-approved merger scheme was silent on the write-down of tier-2 bonds, and that the central bank's decision was arbitrary. The petitioners have also argued that since the liabilities extinguished were maturing in 2024-25, there was no urgency on the part of the regulator to extinguish these bonds.
Good Luck !!
Why should DBS be involved in defending these claims? Should not these be answered by Modi and the Indian government? They made DBS India to carry the can, it is their responsibility to shield DBS India from all claims. Otherwise DBS India should back out of the deal and claim reimbursement from the Indian government.
ReplyDeleteWhy is DBS so willing to continue with this farce and fight a case that has nothing to do with DBS? Someone committed a rape, DBS India now has to defend itself from the crime as if it is now the rapist?
How ridiculous this can be? Stupidity has no cure!
DBS advertised itself as the biggest bank in India but the fact is it has not even been included in India's Top 10 Banks list, even with absorption of LVB 350 branches. The Top 9 Indian Banks have more than 1,000 branches. Only the 10th has 880 branches.
ReplyDeleteObviously, DBS India is not the biggest bank in India.
However, with an Indian as CEO and another Indian as Deputy CEO, there is absolutely nothing wrong to say it is the biggest bank in India. Millions of Indians would readily believe, I am quite sure.
Pfizer Vaccine - Full Exposure And Revelation Required
ReplyDelete1. The public has the basic and common right to have the full exposure and revelation of facts and findings of the Pfizer vaccine, or any other vaccine, before they are given the vaccination.
2. Advertising and recommendations, by words of mouth or written, through manifacturer or third parties, must not hide any inconvenient truth, or any facts, from the public whatsoever regarding any vaccine.
3. All vaccines have side-effects, ranging from mild to severe, and from drastic to fatal.
4. If anybody only talked about a particular vaccine's effectiveness without revealing its side-effects, such a vaccine must be viewed with conscioncious suspicion and great caution.
5. More data is needed to understand the Pfizer Covid-19 vaccine fully, without an iota of doubt.
6. To what extent will it be dangerous to pregnant women, to children,to the aged, and to people who are immuno-compromised?
7. Does the vaccine provide long-term immunization to those who have taken it? If not, how long will it last?
8. Has it been proven, through mass testing, to determine exactly the extent of its efficacy and detriments? How large was the group tested?
9. What percentage of failure-rate and how severe were the failures in terms of human life, health and well-being?
10. Are the clinical test reports made available to the public in full voluntarily, without having to be asked for? If not, why not?
11. Has the manifacturer of the vaccine, deliberately or otherwise, hide any fact or data from the public?
12. Please think hard and do the necessary. Millions of human lifes are involved. Human life is precious. One fatal causalty is one too many already. Just imagine that fatal casually is your ownself or your loved ones.
Be responsible. Be fully responsible!
1984 George Orwell - 15 Dec 2020.
PS: The Pfizer vaccine is singled out because it has been adopted by the Singapore government for mass vaccination usage across the country, even though other vaccines are also available. Moreover, it has only been approved by the US Health Authority for Emergency Use Only, not for everyone anytime. It is, therefore, clear that the US Health Authority has exercised great caution in the application of the Pfizer vaccine, whilst the Singapore "Experts" seem to have failed to consider this aspect.