Hyflux, caveat emptor or someone should be held accountable?

“We have not lost faith. If we all vote no, maybe MAS (the Monetary Authority of Singapore) and the SGX (Singapore Exchange) would step in and investigate this. It’s time for them to take over to see if there was any misrepresentation of information,” he said.
Another perpetual securities and preference shareholder, who wanted to be known only as Michael, told CNA that he thought MAS should have stopped Hyflux and the local banks from selling the perpetual securities in 2016.
“MAS should have stepped in to investigate overzealous selling by the banks because the banks were paid a sum to sell these shares and got a substantial amount of commission,” said Michael, who invested around S$10,000.

Read more at https://www.channelnewsasia.com/news/singapore/we-have-not-lost-faith-hundreds-of-hyflux-investors-gather-to-11395566

The above are angry comments from desperate investors in Hyflux preference shares and securities that have turned to dust at a protest in Hong Lim Park on 30 Mar. Tan Kin Lian was the main sponsor of this event organised by an investor by the name of Alex.  Some of the investors, these are not speculators but people who sought to place their savings in supposedly safer securities hoping to earn some kopi money for retirement, felt that the whole affair is very unfair to them. This is another case of the rich getting richer and the poor getting poorer. Millions were made by some while the small investors lost their nest eggs. 

Another comment was that the plants were built by funds from small shareholders and that it was unfair for PUB to announce taking over the Tuaspring desalination plant for a song. The investors were hoping that PUB would pay for it at a fair value so that the investors would not lose every cent of their investments. 

The investors must all be wondering why, why is it that no one is held accountable for this fiasco? The management of Hyflux were paid very well running the company, the banks were paid very well issuing and managing the preference shares and securities. They felt that someone did not do his due diligence. Is this a fair view, that when something so good turned so bad, and no one is responsible or held accountable?

Another case of caveat emptor? Is there any investigation going on to apportion responsibilities? An estimated 50,000 investors would see their investment in Hyflux turning to zero value. This is the beginning of the opening up of old wounds and suppressed anger of small investors losing their savings in the stock market because of the abundance of failed stocks, delisted stocks, suspended stocks, stocks where owners simply ran away and disappeared. No room for grievance settlement or to recover some of their investments.

When the dam bursts....

Singapore Open 2019 - Athletics at the National Stadium

These are some of the pics taken at the Singapore Open on 29 Mar, the final day of this International Meet with competitors from Japan, South Korea, Hongkong, Taiwan and our neighbouring Asean countries. The schools sent in their supporters en mass to cheer their school representatives competing among the men and women in the various events. The school supporters and their parents contributed to an otherwise empty stadium and boosted the spirit of the game.

The organisers of such events need to create more publicity and find ways and means to bring in the crowds to keep the events alive and favourably received. It needs great effort, coordination and support from all the agencies and organisations to make such events successful.

The next big event would be the Singapore Masters Open cum the inaugural South East Asia Masters Meet in 3-5 May at Bishan Stadium and Home of the Athletes. Would there be supporters and crowd to cheer the seniors competing in the fields? Would there be publicity given to the event to inform the public and supporters to turn up and liven up the spirit of the game?

The main media could do a lot to lend a helping hand in such promotions and publicity.

Brad Bowyer left People's Voice out of the blue

Singapore – On March 28 (Thursday), former PAP turned opposition Brad Bowyer announced his resignation from the People’s Voice (PV) opposition party.

Through a post in his Facebook account, Bowyer said that as of March 24 (Sunday), he no longer has any direct association with Lim Tean’s opposition party.
The reasons for his separation remain unclear, although he did mention personal health issues....

While there is still no word from Lim Tean regarding Bowyer’s decision, netizens are already giving their suggestions for Bowyer’s next steps.
Hass Kamsun suggested joining the Singapore Democratic Party (SDP) and hinted that Bowyer would fit in nicely.

Above is reported in theindependent.sg

How many more opposition candidates would resign from their parties suddenly like being struck by lightning and claimed health reasons and wanting to start on a new journey? The clearest sign of lightning struck is this comment in theindependent.sg, 'Khong Marcus and Jack Ng suggested going independent although Bowyer replied that his path is still unclear'. Lightning struck victims often appeared blur or lost.

Would there be more akan datang?

I think Bad Bowyer should join the PAP, safer and better future. Guaranteed would not be struck by lightning. And if he is thinking of getting into parliament, no need to look elsewhere.

What do you think?

Fake news that senior managers applying for junior secretary job

Martin Gabriel, who runs HR consultancy and training firm HRmatters 21, shared on Facebook last weekend that a quarter of the 100+ applications his client received for a junior secretary job came from “applicants above 40 years of age and previously held senior positions making much much more than 3k.”
Mr Gabriel wrote: “I don’t usually discuss the confidential part of my work so openly, but I think it’s good to alert everyone, how bad the job market is. Recently my client advertised for a junior secretary position for a salary of about 3k plus.

“What was astonishing was that, even senior Managers and Directors were applying for that position. Most of them, out of work for more than 6 months.

“More than a 100 applications were received for one position with about 25% of the applicants above 40 years of age and (sic) previously held senior positions making much much more than 3k. That’s is how bad the job market situation is in Singapore.”

In a comment, Mr Gabriel added: “I don’t want to call people out, but even here in FB, I have friends who are desperately looking for a job and had (sic) gone into depression. There is even one person who had to seek medical treatment for 2 years and was suicidal. I feel so sorry for this person.

“No mainstream media would dare interview me for such stories because I can easily come up with 5 to 6 stories that would drive people to tears. And these are real stories, not made up. I’m a hands on person. My course of work brings me up close to such people and unfortunate situations.”

The above paragraphs copied from theindependent.sg blog 

My instant reaction is that this is fake news because with all the rosy reports in the main media that unemployment of PMETs is not serious and so many are getting employed, this type of news cannot be true. If it is, then PAP cannot be elected with so big majority election after election. 

Also you don't really hear PMETs complaining about being jobless or unemployed, at least not in the main media that always tell the truth. The only time you hear such news is from the social media like theindependent.sg and Gilbert Goh's unemployment blog. And you all know that social media are always guaranteed to be unreliable and famed for posting fake news, mysingaporenews also included. So you be the judge if this is fake news or truth.

I personally know of a PhD applying to be a cleaner supervisor. This one I swear is true. 

So, unemployment of PMETs real problem or fake news? Many senior remisiers are also going to be jobless soon, I know.

No jokes please, this is Singapore

Edmund Zhong, 20, saw the news clip of the Australian Senator Fraser Anning being hit on the head by a youth with an egg and made a comment in his Facebook ‘I wanna do that to K. Shanmugam. I awear.’ This posting, to him it was a joke, was taken very seriously by the police saying a report was lodged against Zhong for the comment. And Edmund is now assisting the police in their investigation ‘for the offence of communicating an electronic record to incite violence under Section267C of the Penal Code. 

This has sent a cold chill down my spine knowing the numerous comments in my blog. KNNCCB, please be warned that no jokes like this is allowed in my blog. Please, please, be very sensitive about other people’s feelings and fear of being attacked. Do not make this kind of jokes in my blog and also, as a piece of friendly advice, not in any where in Singapore. Everything is taken very seriously and all it needs is ‘somebody’ to make a police report against you and you will be in deep shit.
 

Now let’s here what our brilliant and learned lawyers have to say about this comment by Edmund. Ashwin Ganapathy, a lawyer, said this, and I quote from the ST, ‘The violence is not just in persuading or suggesting. It must go further. It must at least instigate, spur or stimulate vigorously an action.’ Sure, and the police must investigate to see if the comment will at least instigate, spur or stimulate vigorously an action, ie, you will be invited by our friendly police to assist in their investigation. If you want to avoid this, please take my advice, no jokes please, especially against political leaders or rulers in Singapore even if you subscribe to the legal view of Ashwin who had this to add, ‘Saying that you want to egg Mr Shanmugam, without doing or saying anything more, is unlikely to fall within the ambit of the provision(S267C?)’. I am very kiasi and kiasu, so I would avoid making such jokes even with this assurance from Ashwin.
 

Ok, another view by a criminal lawyer, Rajan Supramaniam, ‘the action taken by the police sought to send a strong signal against irresponsible and extreme Facebook postings…this action will serve as a deterrent…’ This is good advice for the kiasi and kiasu Singaporeans. Just be careful, be very careful in what you post or say, always remember the OB markers.
 

Ok, you are free to take the advice of the lawyers or my advice on such matters. Not that I have not warned you, this is Singapore and Singapore law and Singapore is a rule by law country and it takes is law very seriously.
 

Thank you very much.
 

PS. When you post ‘fuck Matilah’ or ‘sodomise Matilah’ I hope no one would make a police report against you.

Law and Home Affairs Minister K Shanmugam has revealed that he “laughed off” the Facebook comments from two netizens about wanting to throw an egg at him, when he was informed about the comments.

I hope Shanmugam would also laugh at this pic and not to classify it as fake news. I swear I did not create this pic. Just received it in my whatsapp. Please, I will remove it if this is offensive, if it is wrong to repost this pic here or anywhere. Please, just let me know, I am a law abiding person, no intention to offend anyone or to break the law.