Singapore regulators investigating Noble’s auditor Ernst and Young. This
is not unusual as the big four auditors, Deloitte, KPMG, PWC, and EY
were also under probe in the UK according to a Bloomberg report. Below
are a few paras of a report by Bloomberg on MAS’ investigating EY after
the fall from grace of Noble, once a hot favourite of punters in the
Singapore Exchange. Its share price had fallen to a few miserable cents
and the stock has been suspended from trading pending a refinancing and
restructuring exercise to save the company.
‘Noble’s accounting has been in focus since early 2015, when
a previously unknown group called Iceberg Research started
criticizing the company, saying it had inflated the value of
long-term commodity contracts and carried billions of dollars in
profits on its books that would eventually have to be written
down.
Since then, the once $12 billion company has lost billions
in value, reduced to a rump by untenable debt and writedowns --
including on many of the contracts that Iceberg had been
criticizing.
"You see repeated clean audits, and then suddenly you have
these big writedowns," Lee Boon Ngiap, assistant managing
director of the Monetary Authority of Singapore, told Bloomberg.
"That’s something regulators will pay attention to – and move to
ask questions, press more."’ Bloomberg
The blind faith in western auditing firms is another angmoh tua kee
thing. Anything western must be good, no need to question, sure to be
done professionally and honestly. One of these firms was the auditor of
the AHTC accounts and the cross examinations in court revealed many
loopholes and personal opinions that were anything but factual from
rubbish heads.
Not only auditing firms, the western banks were reputed to be highly
professionally run, with impeccable records, transparent and
unquestionable trust in what they said until the banking crisis when all
the top western banks, reporting billions and billions of profits,
suddenly declared insolvent. How could this happen, cooking the books
all the years, hazy accounting and management practices, the biggest
money launderers, but not discovered by the reputable auditors?
When reading the glorious reports of billions of dollars of profits by
the local banks, the scenario of the collapse of western banks keeps
appearing in my mind. So similar, would they be adopting the same hide
and seek accounting? Are they using the same auditing firms? Hopefully
not as Singapore is reputed to have the strictest banking regulations
under the watchful eyes of our incorruptible and most conscientious
regulators.
The western media too were taken as the publishers of truth,
unquestionable truth, and accepted as the authority of all news and
information in their prints. Today every one of these western media are
churning out fake news and disinformation. Unfortunately silly bananas
would still regard them as the messengers to truth, nothing but the
truth despite Trump, the US President, discrediting every one of them as
untrustworthy. Would the lies and rubbish churned out by the western
media be accepted as the truth and would not be questioned by our
ministry in charge of fake news and disinformation?
Is there anything left in the West that is honourable, worthy of being
trustworthy and reliable and not cheats, conmen, tricksters and liars?
12/15/2018
Canada’s faux pas – A lesson for American cronies and little USAs
Canada was an innocent party in the trade war between China and the USA.
So the daft Canadians claimed. For whatever reasons, Canada deemed it fit to arrest a Chinese national
on transit in a Canadian airport under the instruction of the Americans
for violating American sanction against trading with Iran. Now Canada
has offended China by this arbitrary arrest of a foreign national that
did not commit any crime in Canada nor in the USA. To make matter worse,
in its zeal to please the Americans, the Canadian police and legal
institution put Meng Wanzhou, a top female executive of Huawei under
handcuffs and leg cuffs as if she was a hard core criminal that could
break free and harm other people around her. And the silly judge imposed
ridiculous conditions to let her out on bail but not before trying to
keep her in prison for as long as they could.
The mischievous antics of the Canadian police and judicial system have forced China to take retaliatory measures against the Canadians, cancelling a trade delegation from Canada and arresting of an ex Canadian diplomat and a businessman for activities against the national interest of China, ie American intelligence operators. More arrests of Canadians are rumoured to be on the card. The Canadian govt now found it necessary to send out a warning to Canadians not to visit China for fear of being arrested. This is so stupid and so unnecessary.
China Canadian relations are now at rock bottom. What has Canada hoped to gain from this faux pas? More praises from the Americans for being a good puppy? What were the consequences for Canada? Would Canada gain a bad reputation for the irresponsible and reckless arrest of a citizen of another country, China, and the silly police and court antics? Canada is now seen as a rogue country, a country of kidnappers, an American crony.
China has no choice but to retaliate and to hit hard at Canada. For not doing so it would compromise China’s interest and Chinese nationals would fear stepping out of China. Not doing so would mean other American cronies and little USAs would be emboldened and encouraged to do the American bidding to arrest Chinese nationals at the behest of their American masters. Not doing so would discredit China as a respectable world leader and as a dependable partner to fall back on when pressured or attacked by the Americans and its allies and cronies.
What are the lessons for American cronies and little USAs? Would they want to be like the little good puppy, Canada, and do the bidding of the Americans to do the dirty work for the Americans and suffered the consequences? The Americans would not hesitate to make their cronies and little USAs to be the commandos, to charge first and to die first for the American Empire. Canada just had a bad taste of this American treachery.
Would the American cronies and little USAs want to antagonize China, likely their number one trade partner and lose the goodwill with China and become an enemy of China when they don’t have do? What have they got to gain and what to lose if they are to do and act like the Canadians?
I think the best option is to shut up and pretend not to see, not to hear and not to say anything. Why get in between two elephants fighting and get trampled into flatten mud shit?
The mischievous antics of the Canadian police and judicial system have forced China to take retaliatory measures against the Canadians, cancelling a trade delegation from Canada and arresting of an ex Canadian diplomat and a businessman for activities against the national interest of China, ie American intelligence operators. More arrests of Canadians are rumoured to be on the card. The Canadian govt now found it necessary to send out a warning to Canadians not to visit China for fear of being arrested. This is so stupid and so unnecessary.
China Canadian relations are now at rock bottom. What has Canada hoped to gain from this faux pas? More praises from the Americans for being a good puppy? What were the consequences for Canada? Would Canada gain a bad reputation for the irresponsible and reckless arrest of a citizen of another country, China, and the silly police and court antics? Canada is now seen as a rogue country, a country of kidnappers, an American crony.
China has no choice but to retaliate and to hit hard at Canada. For not doing so it would compromise China’s interest and Chinese nationals would fear stepping out of China. Not doing so would mean other American cronies and little USAs would be emboldened and encouraged to do the American bidding to arrest Chinese nationals at the behest of their American masters. Not doing so would discredit China as a respectable world leader and as a dependable partner to fall back on when pressured or attacked by the Americans and its allies and cronies.
What are the lessons for American cronies and little USAs? Would they want to be like the little good puppy, Canada, and do the bidding of the Americans to do the dirty work for the Americans and suffered the consequences? The Americans would not hesitate to make their cronies and little USAs to be the commandos, to charge first and to die first for the American Empire. Canada just had a bad taste of this American treachery.
Would the American cronies and little USAs want to antagonize China, likely their number one trade partner and lose the goodwill with China and become an enemy of China when they don’t have do? What have they got to gain and what to lose if they are to do and act like the Canadians?
I think the best option is to shut up and pretend not to see, not to hear and not to say anything. Why get in between two elephants fighting and get trampled into flatten mud shit?
12/14/2018
Hishamuddin called for action against Singapore
The territorial dispute between Singapore and Malaysia is likely to take
a notch higher with Hishamuddin of UMNO calling on the Malaysian govt
to stop talking to Singapore and take action, just do it. What did he
meant by just do it?
When he was the Defence Minister, he wanted to send Malaysian warships to fight with China over the South China Sea island claims. He was infamous for drawing the kris and threatening a May 13 on racial issues. He is growing impatient with the talks between Singapore and Malaysia govts and provoking the Malaysian govt to take action against Singapore, to defend Malaysian territorial rights. He is likely to draw his kris again on this territorial dispute.
This very friendly and nice man was the Defence Minister of Najib when relations between Singapore and Malaysia were extremely good. I think he was also a party to the Durian Party in Singapore. Now that he is out of power, thank God, he is pushing the Mahathir govt to be tough with Singapore. This is how precarious relations with Malaysia can become, one day hot one day cold, depending on the weather and who is in power.
With tension rising, the Singapore side would have to be wary of the worse, a scenario that is unthinkable yesterday but increasingly turning into a reality. Wait for the signals calling for jihad or running amok and hell will break loose. Luckily the Mahathir govt, though can be very kuai lan, still have some good sense not to allow this dispute to turn bad. Both sides are winding down temperature and going to the negotiating table.
However it pays to be prudent and be ready for all circumstances. Singapore cannot let its guards down when very nice and friendly people can turn amok the next moment.
Singaporeans are best advised to avoid Malaysia during this time of unpredictability. When is the Foreign Ministry going to issue a statement to caution Singaporeans going north during this festive season?
When he was the Defence Minister, he wanted to send Malaysian warships to fight with China over the South China Sea island claims. He was infamous for drawing the kris and threatening a May 13 on racial issues. He is growing impatient with the talks between Singapore and Malaysia govts and provoking the Malaysian govt to take action against Singapore, to defend Malaysian territorial rights. He is likely to draw his kris again on this territorial dispute.
This very friendly and nice man was the Defence Minister of Najib when relations between Singapore and Malaysia were extremely good. I think he was also a party to the Durian Party in Singapore. Now that he is out of power, thank God, he is pushing the Mahathir govt to be tough with Singapore. This is how precarious relations with Malaysia can become, one day hot one day cold, depending on the weather and who is in power.
With tension rising, the Singapore side would have to be wary of the worse, a scenario that is unthinkable yesterday but increasingly turning into a reality. Wait for the signals calling for jihad or running amok and hell will break loose. Luckily the Mahathir govt, though can be very kuai lan, still have some good sense not to allow this dispute to turn bad. Both sides are winding down temperature and going to the negotiating table.
However it pays to be prudent and be ready for all circumstances. Singapore cannot let its guards down when very nice and friendly people can turn amok the next moment.
Singaporeans are best advised to avoid Malaysia during this time of unpredictability. When is the Foreign Ministry going to issue a statement to caution Singaporeans going north during this festive season?
12/13/2018
BEWARE - CANADA is a TERRORIST COUNTRY
Yes, this country is going down as another scum country. It is a rogue regime headed by a clueless boy.
The Canadian rogue govt would arrest an innocent person for no reason but under the instruction or behest of another country like the USA. They did not care whether it is right or wrong, whether the person committed a crime or not, they simply go and arrest the person. Yes a person need not commit a crime to be arrested.
And they treated a highly educated and dignified lady, a top executive of a foreign company like a dangerous criminal, hand cuffed, leg cuffed and paraded in public to show how uncivilised the rogues were.
Canada is a shame to the world community, a country of kidnappers!
The Canadian rogue govt would arrest an innocent person for no reason but under the instruction or behest of another country like the USA. They did not care whether it is right or wrong, whether the person committed a crime or not, they simply go and arrest the person. Yes a person need not commit a crime to be arrested.
And they treated a highly educated and dignified lady, a top executive of a foreign company like a dangerous criminal, hand cuffed, leg cuffed and paraded in public to show how uncivilised the rogues were.
Canada is a shame to the world community, a country of kidnappers!
Huawei CFO case – China compels to act
The vile unilateral arrest of Huawei’s CFO by the Canadian govt under
instruction from the Americans compelled the Chinese govt to act against
the Canadians and the Americans. This is an arrest of a Chinese
national on transit and who has not committed any crime in Canada or the
USA. The alleged crime is a violation of an American sanction on Iran
that was unilaterally imposed by the US and nationals of other countries
need to comply unless they are operating in the USA.
If the Americans can imposed their domestic laws on foreign nationals in other parts of the world, it would mean the American laws are international laws or the USA is the Empire of the world and every country would come under American laws.
China or any country would not subject their nationals to American laws and jurisdiction. This is a violation of the rights of other nationals and China must act or its govt would loose the support and respect of its citizens and countries of the world. After several stern warnings, the Canadians still refused to release Meng Wanzhou from custody. The latest, she has been allowed bail. This is not enough. The bail conditions were atrociously prohibitive, $10m bail, electronic tag, and the cruel hand and leg cuffing of a dignified and highly educated female top executive were incomprehensible. Only a rogue regime could ever do such wicked things.
It has been reported that China has arrested an ex Canadian diplomat Michael Kovrig in China. Kovrig is now working with an International Crisis Group in Hong Kong. If the Canadians and the Americans deemed fit to address Chinese nationals for not breaking any of their laws, China can do likewise in return for the rogue behavior of these regimes. The Americans got the cheek to tell China to respect human rights and to release the Canadians. And they have issued warnings to Americans not to visit China for fear of arrest. This must be expected. China cannot sit idly by and allow Chinese nationals to be arrested anywhere in the world by rogue regimes when they did not commit any crimes against those countries. Kovrig must be treated under the same conditions as Meng, handcuffed, leg cuffed and paraded in court. The bail conditions should be no less than Meng.
More arrests of Americans and Canadians are on the card if Meng Wanzhou is not released. Both can play the same dirty game. If the Americans and Canadians want to play international kidnappers, China too can do the same. If China does not act to arrest the Canadians or Americans, then the Americans and Canadians would be embolden to arrest Chinese businessmen anywhere, anytime they so chose. This fear would stop Chinese businessmen from travelling outside China and must be removed at once. With the arrest of the Canadian, China is telling the Canadians and Americans that they too are subject to be arrested by China at will anywhere, anytime. The boyish PM Trudeau cannot pretend and act so innocently over this kidnapping of Meng, that it was a legal matter and has nothing to do with him or politics. Now his little balls are being caught between China and the USA and other Canadians are going to pay for his childish prank on China. He is being taught a lesson not to meddle with the men in the game of politics. And Canada is now know throughout the world as a dangerous country of kidnappers. They would arrest anyone under instruction from the US, even innocent people who did not commit any crime in Canada. Beware when travelling to this terrorist country.
While the American’s main intent was to kill Huawei, China has banned the sale of all Apple iPhones in the whole of China.
PS. There is a rumour that Kovrig has secret information on North Korea and North Korea is asking China to repatriate him to serve jail time in North Korea : ) How’s that for tit for tat? Wait for more Canadians to be arrested in greater China.
If the Americans can imposed their domestic laws on foreign nationals in other parts of the world, it would mean the American laws are international laws or the USA is the Empire of the world and every country would come under American laws.
China or any country would not subject their nationals to American laws and jurisdiction. This is a violation of the rights of other nationals and China must act or its govt would loose the support and respect of its citizens and countries of the world. After several stern warnings, the Canadians still refused to release Meng Wanzhou from custody. The latest, she has been allowed bail. This is not enough. The bail conditions were atrociously prohibitive, $10m bail, electronic tag, and the cruel hand and leg cuffing of a dignified and highly educated female top executive were incomprehensible. Only a rogue regime could ever do such wicked things.
It has been reported that China has arrested an ex Canadian diplomat Michael Kovrig in China. Kovrig is now working with an International Crisis Group in Hong Kong. If the Canadians and the Americans deemed fit to address Chinese nationals for not breaking any of their laws, China can do likewise in return for the rogue behavior of these regimes. The Americans got the cheek to tell China to respect human rights and to release the Canadians. And they have issued warnings to Americans not to visit China for fear of arrest. This must be expected. China cannot sit idly by and allow Chinese nationals to be arrested anywhere in the world by rogue regimes when they did not commit any crimes against those countries. Kovrig must be treated under the same conditions as Meng, handcuffed, leg cuffed and paraded in court. The bail conditions should be no less than Meng.
More arrests of Americans and Canadians are on the card if Meng Wanzhou is not released. Both can play the same dirty game. If the Americans and Canadians want to play international kidnappers, China too can do the same. If China does not act to arrest the Canadians or Americans, then the Americans and Canadians would be embolden to arrest Chinese businessmen anywhere, anytime they so chose. This fear would stop Chinese businessmen from travelling outside China and must be removed at once. With the arrest of the Canadian, China is telling the Canadians and Americans that they too are subject to be arrested by China at will anywhere, anytime. The boyish PM Trudeau cannot pretend and act so innocently over this kidnapping of Meng, that it was a legal matter and has nothing to do with him or politics. Now his little balls are being caught between China and the USA and other Canadians are going to pay for his childish prank on China. He is being taught a lesson not to meddle with the men in the game of politics. And Canada is now know throughout the world as a dangerous country of kidnappers. They would arrest anyone under instruction from the US, even innocent people who did not commit any crime in Canada. Beware when travelling to this terrorist country.
While the American’s main intent was to kill Huawei, China has banned the sale of all Apple iPhones in the whole of China.
PS. There is a rumour that Kovrig has secret information on North Korea and North Korea is asking China to repatriate him to serve jail time in North Korea : ) How’s that for tit for tat? Wait for more Canadians to be arrested in greater China.
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