Faces of anguish

Everyday the papers and the TV flashed faces of anguish of distraught students from UNSW and their parents. It is truly distressing. A very sad episode to put so many innocent people in such a state of uncertainty with their hopes totally smashed.

6th most stressful country

Singapore is 6th most stressful country We are now ranked as more stressful than Hongkong, according to Grant Thornton International Business Report. Can you beat that? I know one sure reason why Singaporeans are feeling stressed. When you are earning $20k a year and queuing to strike toto every week but in vain, but you are told that many people are earning an equivalent of a toto win every 6 months or every 2 months, sure you get stressed. How not to when all the queuing for the next 30 years may not even strike one toto prize?

Najib's pledge of govt support

Najib was in Singapore selling the IDR. No one can doubt his sincerity and the sincerity of the Abdullah govt for what they want to do in the IDR. They will definitely be investor friendly. After so many years of comparing the nonsenses committed by the Mahathir regime and the Indonesians in Riau, and the no nonsense economic policies of Singapore and even China, they should be able to see the impact of economic growth if the policies are correct. But the Malaysian politics is as changeable as the weather and with so many kampong politicians in the wings, anything can happen tomorrow. In order for the present policies to be taken seriously, they need to cast them in iron with all the what if conditions stated clearly in the contract. If not, it will become, for future Malaysian leaders to say, "I don't know. It was the old regime. We are now changing our policies." And the investors will be caught again with their pants down, and pockets empty. And cannot pull out.

UNSW case, signs of progress

Though I posted a different sentiment under the topic Signs of Decline on this issue, I am saying something different here from another perspective. We are progressing towards a kinder and more forgiving nation and mistakes are now taken in their strides. When mistakes were made in the thousands of millions or hundreds of millions of dollars, we are now regarding them as honest mistakes and part and parcel of the risk mechanism. And anyone making such multi million dollar mistake becomes more valuable as we have invested the lost millions in them to learn. And definitely they will not repeat the same mistake again and will become a wiser person. We are progressing in the right track. Just because we are paying top dollars does not mean that the axe must come down every time a mistake is made. We must treasure risk takers and people who made honest mistakes. Otherwise no one will want to be risk takers and no honest mistakes will be made. But for those who did not do enough homework or were tardy, and left a big gap in their decisions and resulting in huge losses, now that is a different matter altogether.

The audacity of Siew Kum Hong

How could Siew Kum Hong questioned the role of EDB in the UNSW fiasco? EDB has came out openly to say that they are not responsible and UNSW is ultimately responsible for the mess. Period. Can we not accept this clear cut position? And the reasons for not disclosing how much public money were lost were logical and for the good of the country. They cannot disclose it as it will compromise our position in future negotiations. Very reasonably put forth. Certain information are best keep undisclosed in the interest of the country. Transparency must have its limits and things of national interest cannot be divulged casually. According to the Financial Times, $80 million of public money were involved. This is only speculation and cannot be proven as no official figure has been given. Anyway it is small change. Money seems to be an issue in the article as Siew Kum Hong said that with world class pay, the public should demand a higher standard of disclosure, transparency and quality from govt employees. Though I take a different position from Siew Kum Hong, I strongly encouraged everyone to read his article in the Today paper today. He makes a lot of sense. And I am proud of him and Today for printing it. It will be better if Siew Kum Hong raises the same issues in Parliament.