When will the corporate wayang ends?

Minority shareholders are taking to task to sack 3 independent directors from a public listed company for 'not doing their jobs.' They claimed that the two top executives of the company were getting unduly high pays while the company is losing money. It implies that the directors should have curbed the excessive payouts to the top executives. Now they are calling for an EGM to remove the independent directors. It is time that the wayang of having independent directors that are seen as not protecting the interest of minority shareholders be stopped. And honest and respectable individuals who cannot do the job for whatever reasons must honourably step down from such appointments or not to accept them. The practice of collecting fees and not doing the due diligence is becoming cancerous.

We have added Merrill Lynch

With UBS in the bag, we have bagged another biggie, Merrill Lynch. This round of financial crisis is much more than what Nick Leeson had done. We are seeing a spate of financial institutions crumbling down. And we helped to pick up the pieces. And so were other Sovereign Wealth Funds. These SWFs, once feared and hated, are now the white knights to the troubled banks and financial institutions. The world is changing. And so is the little Red Dot. We are in an enviable situation.

And Christmas is over

The last two days were great days of kindness and generosities. Gifts and offers of help were everywhere. Charitable homes have to turn down offers of help in some cases. Some even started to be selective and only want those who can render assistance on a longer term basis. Once a year kindness is appreciated but could not be of much help. Pope Benedict also commented on the selfishness of humankind and wished that they will be more unselfishness and share a little with the less fortunate. Like it or not, humankind will return to what they are. Time to work hard and earn a living, and be more selfish, now that Christmas is over.

My Christmas wish

As I was day dreaming. And this is Christmas, a time for giving and charity, then I started to imagine what I would do if I am given a $1m increment for the rest of my life! Would it be too much or too generous for me to donate my first $1m increment to the unfortunate? Afterall I still stand to gain that extra $1m for a life time. And especially so when I may be doing nothing useful or productive. I am only dreaming of becoming a generous man with other people's money. Still more generous than taking other people's money and not giving a little away.

Need further proof?

Below is a post' by a 'Leongszehian' in Sammyboy that proves that there is no need for compulsory annuity scheme. After 31 Mar 2008, 1st 20k of CPF OA and 1st 20k of SA can no longer be invested Everyone should think about investing their CPF OA (unless need to pay for housing loan now) and SA, because Age 25 To 65 - 40k will grow to (3.5%) $ 158,370 (5%) $ 281,600 (6%) $ 411,429 (7%) $ 652,456 (8%) $ 970,935 A 25 year old Singaporean earning just $1,450 a month, $500 monthly CPF contribution (34.5% is current CPF contribution rate), with 60k in OA/SA/MS accounts, assuming $500 contribution never increase (no pay increase) , from age 25 to 65 - at 5% grow to 900k+, 6% grow to $1.2 million+ - So, why average CPF balance at age 55 is only 66k (median estimated to be only about 20k plus) ? Why leave money in your CPF for others to invest? The computation is up to 65 years. 85 years is another 20 years of interest. What about the minimum sum retained? What about the amount in the Medisave? All these will add up to make every Singaporean a millionaire at 85.

New definition for Singaporeans?

Flexible labour policy has helped Sporeans This is the heading of a letter by Jean Tan, Director, Corporate Communications of the Ministry of Manpower. Her letter talked about how foreigners have helped Singaporeans to be employed. 'Singaporeans have also been taking up better jobs - nine out of 10 jobs gained by residents from 1997 to 2007 were those of Professionals, Managers, Executives and Technicians(PMETs). Singaporeans and residents are now synonymous.

Wah lau, $5000 to produce legal papers

It is reported that 'the lawyers usually gets at least $5000 for doing the insurance paperwork.' Imagine handling 10 car accident claims a day, that is a cool $50k! No wonder the touting lawyers are willing to offer between $600 to $1000 for each case referred. Anything wrong? Why shouldn't lawyers be allowed to solicit for business? Aren't they also known as solicitors? Is soliciting such a bad word? What is needed is to make the business transparent and upfront, just like the way we curb corruption. Make all the fees transparent and allow the lawyers to solicit as often as they need, with all the terms and conditions set up. The law society can defined all the regulations they need to protect the profession.