nkf: one good man and one good woman

kpmg has more or less put all the blame on one man, t t durai, for his imperious way in running nkf. is that so? are the exco and board of directors all men or fools? look at the hands in the kitty! was there a big birthday party? for the innocents, it is unfair for their reputations to be ruined by the guilty. what you need is one good man to turn off the music. sadly he was not around. the one good man came in the gold tap contractor, plus one good woman, susan long.

the nkf affair

i hear silence.......................................... all the insignificant people in the street, stop whining. my wife took out her little saving and count, one dollar, two dollars, three dollars....to make one phone call to the nkf. they splurged and squandered in hundreds of thousands, and millions away. so sinful. so wasteful, so painful.

god is kind

god has let a rotten apple to fall and let all the worms to crawl out for all to see. it is his way of letting man know in advance, an early warning, that things are getting bad. that the whole apple tree is rotten and more rotten apples are going to drop. and if nothing is done, the whole apple tree will also rot to death. amen.

i have one complain against kpmg

they forgot to classify their report PG! the report is like a tsunami that swept through the pathetic and laidback populace. some may die of shock reading it. many are still caught by the first wave and not reacting. but the report has drawn out responses from shock, resignation, disbelief, so what, to anger, disgust, and people demanding justice and blood. it is an issue that is not going away. no one in his right mind will say let's move on. if not properly handled to soothe the anger on the street, the repercussion can be very grave. but as i read the papers and hear the news, i started to feel sick. comments from learned people in the legal professions said there is no case against durai, or hard to make a case against him. the reasons, difficult to prove wrongdoings, no evidence of criminal breach of trust, no evidence to prove misappropriation of monies, corruption or cheating, no criminal intent in the form of dishonesty, no intent to deceive, it was just an overzealous attempt to raise more funds for charity. and better, everything was approved by the board and the exco. and it was on record that he wanted less but the board wanted to give him more. the main point from the legal profession is that it is hard to prove beyond reasonable doubt to show criminal intent and motivation by greed. and the best statement came from durai's lawyer. "the ceo was a qualified lawyer with limited accounting knowledge." and "he claimed he was not familiar with accounting standards or their application and relied on the head of department for finance and nkf vice chairman, alywn lim - a qualified accountant - and honorary treasurer loo say san, a former banker." there you see, there is really no case against durai. and if there is, he is fully covered by the board of directors and the exco. and in accounting and finance matters, he is ignorant of such matters and the finance people shall be held responsible. durai is innocent beyond reasonable doubt, and anyone thinking of suing him will get no where. durai is a free man.

nkf board of directors

"As for the Board(nkf board) itself, the report noted that since its incorporation in 2001, it only saw two departures and the directors were never replaced. Out of 21 members in the former board, only eight attended the foundation's annual general meetings, and all of them sat on the Executive Committee. Effectively, that meant the former Board was further concentrated in the hands of five directors, of whom four were given executive powers. According to the report, the Audit Committee was ineffective because it hardly met regularly. From June 2002 to January 2005, there was only one informal meeting in 2004 to discuss the revival of the Audit Committee. " the above were quoted in the channelnewsasia website. members of the board must be very busy people and have very little time to meet. is this a result of them being in too many boards and wearing too many hats because there are not enough talents to spread around? and that these directors have to sacrifice themselves, overworked and would willingly give up their board representations if there are talented people to replace them? i feel very sorry for them. so busy, not enough time to attend board meetings, no time for family, no time to enjoy their money, and probably will work themselves to death. it is not a good thing to be a talent in this country. so much sacrifices. and now worrying if they will be sued for negligence. even if they are not sued, people will have the impression that they are neglecting their duties. not sure if they still collect director's fees. is there anything wrong with corporate governance in the country?