It's beyond comprehension why bring someone from India to be the CEO of Singapore nationaal bank - DBS. The bank was founded by Singaporeans. It was the brain child of Professor Goh Keng Swee and his colleagues. The bank was totally funded by Singaporeans and it has since its founding days been well staffed and well managed by talented local officers from directors, managers, financial secretary, accountants and other administrators and competent clerical officers. Important connections were well set up by our local officers in overseas countries where DBS branches were well set up in Indonesia, Malaysia, Brunei, and China. DBS has annually for years been making ever increasing profits for the bank for decades.
There are actually a lot of economic and banking talents and expertise in Singapore. Why then suddenly out of the blue we need to employ a so-called banker from overseas - from India in which the bank has to pay him an annual salary of between twelve to fifteen million dollars of which the perts and bonus and DBS shares awarded to him are not as yet included. This is throwing money down the drain.
What new business has he brought to the bank? Some may say DBS stock has risen astronomically. But the rise and fall of the stock price of a listed company can be the result of high astute speculation and manipulation. It has nothing to do with the proper management and the core asset business of the bank. Bear in mind how many billion dollar capitalised banks in USA foundered and went bankrupt due to massive speculations in hedge funds and deriivatives trading.
The point is that the crooks running the banks will reap in the
profits from gambling in hedge funds and derivatives and pass over to
the banks should they result in huge losses by the billions.
Singaporeans don't want our national bank to face such dire scenario.
Singaporeans will be shocked to death should they wake up one day to
find DBS shares trading below ten dollars.
It is really scary to
see the stock price of DBS shares moving up and down so fast
precariously. Who is holding the magic wand? The authority must keep a
close watch on this bank before a financial catastrophy happen.
A stock market observer : Yang Tai Chung
NTUC also . . . Bombay Uni
ReplyDeleteAiyo so many networks broke down
ReplyDeleteMust be their country men and women in their IT Department.
Just like the MRT of Old.
The best software creators are the Chinese. Look at Alibaba, Alipay, Tik Tok, WeChat, Taobao, Shoppee, Shein, to name a few. They are used worldwide, not just in a little island.
ReplyDeleteIf their software were to have the same percentage of failures, can you imagine the consequences. Their software is as good as flawless. They are the real talents.
Gasak buta software by little villagers are no match for the Chinese software engineers. Only no talent Singapore would be mesmerised by little villagers little tricks but unable to see who are the real talents.
Hahaha
ReplyDeleteSmall percentage of Chinese software failures will be like the collapse of China, in the eyes of sites like China Observer, Serpentza or First Post. Their imaginations are extraordinary, their exaggerations monumental and beyond belief.
That brings back this episode of how one ex-NTUC chief who went with a ministerial delegation to China many years ago, hoping to sell NTUC's insurance software to Chinese insurers. He was left speechless to find out that insurance software in China was far more advanced than those used in Red Dot and ended up being sold instead of selling to the Chinese. This is not a make-up story but a factual admission that that ex-NTUC chief shared with locals.
By the way, Ping An Insurance in China is an extremely dominant player in the global insurance sector. But with Chinese banks also among the top banks around the world, that realization about Ping An is hardly surprising.
Hi Anon 10.58
DeleteSome Sinkies still wants to boast that the Chinamen came to Singapore to learn our Monotonous and Bland HDB.Flats.
Now their Building designs even brat our top class Condom Buildings.
Now even Highways and Fast Trains and Rockets to the Moon.
Sinkeland Prefab slabs Manfactured in Matland and in Ringgit and then transported to Sinking Land and then hoisted up piece by piece same .design throughout Sinking Land and then charged you all Sinful Dollars three point five or six to one Sin $.
What's Monotonous and Bland Design and you want to boast that yay teach Chinamen how to built flats.
We’ve lost heritage icons in the past. What made Thambi at Holland Village so different? CNA
ReplyDeleteShould have apply to the UN for World Heritage status. Singapore has nothing much to talk about except antiquity and hawker food.
Let's wait for some empty vessel to table this in Parliament.
My Ah Kong made 'char kiat' for 50 years until went out of business and nobody cry father and cry mother. What a big loss!
ReplyDeleteSingapore must bring back the kacang puteh sellers, kok kok mee, trishaw pullers, things that we can be proud of.
The top 6 biggest banks in the world are Chinese. How come never go to head hunt for top Chinese bankers but go to Indian villages to hire top bankers? India got world class banks?
ReplyDelete
ReplyDeleteIt is even more outrageous for this so called CEO of DBS to recruit so many of his fellow native villagers to occupy many important high positions in the bank in which they are said to be paid a very high monthly salary of four or five figures. No wonder many of them have been heard in canteens boasting of the lands and houses they are buying in their native villages.
Singaporeans may not speak up, but they know who betrayed them in favour of the foreigners.
ReplyDelete