sgx must shame errant brokers

this is reported by a goh eng yeow in the straits times today. the sin of the remisier is to key in big orders that he had no intention to fill but to withdraw minutes later. and goh eng yeow wants sgx to name the culprit. would sgx be fair and shame all the big funds and brokers who executed similar fake entries and other misdeeds to mislead or create a false market? or would the stick be applicable to the small boys? he also said the practice is rampant as he was a dealer himself. would he like to tell the public what he knew, without prejudice and tell on what his broking house did? would he also reveal to the public whether he wrote this article on his own initiative?

nkf, 3 years reserve more than enough

nkf is not a financial institution. it is not there to raise fund to keep in the kitty. the funds are to be used for the patients it is supposed to help. 3 years of reserve is more than sufficient. the public are generous and will donate whenever there is a need. with such a fat reserve, for the time being nkf shall only raise enough to cover operating expenses. and nkf shall not have wild ambition to build another 2 or 10 hospitals and tell the public it needs more money. it shall operate the charity within its means. now i can understand why everyone is trying to build more and bigger charities. if that is the case, all the hospitals shall be taken over by the charities and let the charities run all the medical services. they can even run all the public services...and ask the public to donate for it.

how to rob an organisation lawfully

just a couple of years back they appointed this guy to be the chairman of the new york stock exchange. america is a country that works under the rule of law. so we can expect everyone to work within the legal framework. but these people at the board have their own ideas. new york stock exchange is a public company, bo cheng hu. they are the main trustees and can do what they want with the money in the exchange. so how to dip into the coffer and share the loot? and to do it legally? they appointed a chairman and approved to pay him us$200 million a year or about s$360 million. simply put, s$30 million a month of s$1 million a day for 360 days a year. who in his right mind would think or accept such nonsense? probably the board and the ceo agreed to share $30 million each from the payout, at the expense of the sleeping shareholders. fortunately in america the rule of law is operated to the last word, and the us$200 million must be approved by an agm. and the shareholders voted against it and booted out the chairman before they pay him all the money the board wanted to pay him. and the board is working within the law, all legitimate. there is no corruption!

nkf board and exco were misled!

there is an article by adrian tan(in today paper) taking the line that nkf board and exco could have been misled. that they did not have the full picture when approving all the extravagance. this is not too farfetched from another view that the board and exco were mesmerised by a charismatic ceo. how silly! are the board and exco all boy scouts and girl guides? these are top notched people who have rose to the top of their profession, with a whole life of working experience and professional trainings. would they be like school girls looking gaga at their idol, the ceo? or were they all sleeping at board meetings, not knowing what was happening? let's wake up and face the hard realities. the whole thing would not have gone that far without the acquiescence of the board and exco. and please do not claim that they were volunteers and shall not be held responsible for fraud and neglect of fiduciary duties. no volunteer shall walk away free if they are part and parcel of a fraud. anyone who does not have the time or dedication to serve must not accept such an important appointment. it is simply irresponsible. are singaporeans really that stupid to even think of such reasonings as possible and real?

why paying for honesty does not work

an honest man does not need to be paid to be honest. some may think that an honest man is a stupid man. but he believes in what is honestly his and will not take anything that does not belong to him. paying more does not make any difference to him. and there is no need to reward his honesty as it is already there. pay him his fair wage. by paying more and thinking that a dishonest man will become honest is a fallacy. such logic presumes that everyone is dishonest, or may be greedy. pay him enough and he will refrain from becoming his evil self. in the recent case it is proven that a dishonest man will always be honest. or is it that they have not paid him enough? then what is enough? very likely enough will never be enough. the other issue is how much to pay for job worth? many in mega organisations think that they must be paid proportional to the value of their decision and responibility that come with a big job. up to a point. other wise the president of usa must be paid the most. then there is paying for the value of the person instead of the job. how much is this man worth? what is his market value? can he get a similar paying job elsewhere? there are many factors that are used in the computation of a job. special skills, connections, risk, risk of life or job. not risk of making multi million dollar decision. that is already paid in the value of the job. and if one makes a wrong million dollar decision, one gets fired. there are qualification and experience etc. but no one pays for honesty. that is expected. so are integrity, being responsible, dedication, doing a good job. all these are expected from the employee. and if he is dishonest then he will go to jail. imagine what it would be like if an organisation got to pay for all these factors.