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Salute
    04-Jul-2011 11:20  
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ever read the article interviewing Peter Choo(banker)--the king of IPO issue, telling how he became untrusting the chinese when he wanted to buy a small china firm into his biz(he now owns a biz if I dont'remember well). Confessing that he didn't doubt about the true in the companies' statements when he did the IPO of other china companies here...................show the ugry side of white collar lies
 
 
Laulan
    04-Jul-2011 10:55  
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A watchdog group should be setup for this purpose of protecting share investors' interests such as against acts committed by directors and accountants or auditors in cahoots,  not amounting to penal code interpretations as crimes.  This will allow law suits to be instituted against these directors responsible or even the SGX where a negligence of duty to exercise due diligence is omitted by the exchange.  A good example in recent corporate history I know of.  Most of you who got burnt will know which company.  Initially the co complained that their ex-director " illegally" made a purchase of some $400 million worth of investment in a Chinese co that won't allow them a say on the board.  Then they subsequently have to sell the investment for a big loss and entered into another deal that lost money again. Again they sell off the investments for another big loss. Eventually when they got suspended from SGX they sold everything for further big losses.  That's why I ask myself if these people are so smart in doing all manners of manoevers, then the investors and the nominees have turned a blind eye. People could sue the directors in this kind of situation if they have a good corporate lawyer or maybe if  the police is smart enough they could see through the situation and take up the case for investigation to see if planned cheating is involved and who are the parties responsible for the state of affairs..


pharoah88      ( Date: 04-Jul-2011 10:21) Posted:



sharehOlders

vIctImIsed




sUe  S G X  ? ? ? ?

hotokee      ( Date: 04-Jul-2011 10:18) Posted:

Most frauds are always engineered when it happens in listed companies.  Look at those closing down (suspended owing to accounting problems transaction anomalies).  There is a perceived lack of expertise in the police departments (Commercial Affairs Division) to deal with these, I think.  We really need crime busters from the US  or Britain ONLY (CIA & FBI).  Don't recruit from third world countries, please.  Locally listed companies frauds are more widespread than private companies because private companies are mostly directors' stakes while public companies are in public shareholders' funds. So where a fraud exists in a Public company the sufferers are the innocent share investors


 
 
pharoah88
    04-Jul-2011 10:36  
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Homegrown firms are the bedrock

... of any industry, and more needs to be done to promote the good work they do

Letter from Mark Goh

 

 
pharoah88
    04-Jul-2011 10:35  
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Reputations suffer in rush to judgment

First Strauss-Kahn, now the maid — what ever happened to presumed innocent until proven guilty?

The Observer Editorial

Everyone has so far paid a price. Strauss-Kahn has lost his job and, for now, an opportunity to lead his country.

But for the loyalty and resources of his wife, Ms Anne Sinclair, he could also have lost his liberty and his marriage.

In tandem, the new life the woman from Guinea has tried to build in the US for herself and her 15-year-old daughter has been utterly demolished.

 
 
pharoah88
    04-Jul-2011 10:32  
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Let cabbies own their cabs

It might give them more entrepreneurial drive the plethora of surcharges should also be pruned

Conrad Raj

While by most measures we have a public transport system that works, it is by no means ideal.

Take our taxi system for instance.

Despite the fact that we have some 26,000 cabs on the road, people still have a hard time trying to get one at certain hours. Sometimes you can be on the phone for half-an-hour before you get the annoying response that there is no taxi available then.

Some will tell you that our cab fares are too cheap, therefore implying that they are affordable to too many.

Are they really that cheap? Our fares range from S$2.80 to S$3.20 for the first kilometre, with subsequent distance charges of 20 cents per 385m for the first 10km, and 20 cents per 330m thereafter.

Then there are plethora of surcharges: Peak-hour charges of an additional 35 per cent to the distance fares S$3 for taking a cab from the Central Business District or from the casinos S$3 to S$5 in airport charges electronic road pricing charges, waiting charges and holiday charges. Booking charges vary from S$2.50 to S$5.20 depending on how far ahead you make the call.


Perhaps too we should go back to the system of old when most cabbies used to own their taxis.

The efficiency of the Hong Kong cab system is perhaps due to the fact that most cab drivers own their vehicles.


O V E R H E A R D :

TAXIS  were  ROBBED  frOm  TAXI  Owners  ? ? ? ?

 
 
pharoah88
    04-Jul-2011 10:25  
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SINGAPORE LADIES

EQUALLY  CAPABLE

? ? ? ?

pharoah88      ( Date: 04-Jul-2011 10:18) Posted:



Aussie women headed for the front line?

CANBERRA

A policy overhaul to be decided by the Cabinet within weeks would remove all gender barriers from the military next year, arguably making the Australian Defence Force the world’s leader on gender equality.

Prime Minister Julia Gillard and Defence Minister Stephen Smith are among those calling for the change. Mr Smith has said that “what you do in the forces should be determined by your physical and intellectual capability or capacity, not simply on the basis of sex”.— Women fight for militaries around the world but rarely if ever are allowed to take the jobs most closely associated with soldiering — those focused on ground combat in close quarters and even hand to hand. That may be about to change in Australia.


 

 
pharoah88
    04-Jul-2011 10:21  
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sharehOlders

vIctImIsed




sUe  S G X  ? ? ? ?

hotokee      ( Date: 04-Jul-2011 10:18) Posted:

Most frauds are always engineered when it happens in listed companies.  Look at those closing down (suspended owing to accounting problems transaction anomalies).  There is a perceived lack of expertise in the police departments (Commercial Affairs Division) to deal with these, I think.  We really need crime busters from the US  or Britain ONLY (CIA & FBI).  Don't recruit from third world countries, please.  Locally listed companies frauds are more widespread than private companies because private companies are mostly directors' stakes while public companies are in public shareholders' funds. So where a fraud exists in a Public company the sufferers are the innocent share investors.

pharoah88      ( Date: 01-Jul-2011 23:41) Posted:

Fraud hits over 1-in-5 firms in S'pore: KPMG
By Lois Calderon | Posted: 30 June 2011 2305 hrs

 
 
Photos 1  of 1

   
 




 

 

SINGAPORE : Fraud has hit more than one-in-five companies in Singapore, suggesting that the attitude towards security may be lax, according to a study released on Thursday by global consultancy firm KPMG.

The latest KPMG Singapore Fraud Survey showed that 22 per cent of companies surveyed reported having experienced fraud - which ranged from financial reporting crimes and corruption, to employee and vendor-related scams.

While that proportion has been roughly the same as three years back, the average number of fraud incidents reported by victims has risen by more than two-fold to nine incidents this year, from 3.8 in 2008, KPMG said.

The survey, which covered directors from locally incorporated and listed companies in Singapore, coincided with the period of the global economic crisis that saw these firms trimming headcount.

KPMG found that the rising incidence of fraud was tied to companies' attitude towards security more than anything else.

" These relate to weak preventive measures [Governance Neglect ? ? ? ?]  on the part of the victims, rather than any particular ingenuity or sophistication on the part of the perpetrators," Bob Yap, head of forensic at KPMG in Singapore, said in a statement.

Unfamiliarity with red flags of fraud, weakness in IT security, and management oversight were identified as three " very significant" causes of fraud.

According to KPMG, 63 per cent of fraud incidents were considered " inside jobs" , with employees being responsible for the largest proportion of company-related crimes.

The survey also found that only 36 per cent of the respondents had completed fraud risk assessments and 31 per cent had conducted training of staff to combat fraud.

It added that 62 per cent had no plans to design and roll out a fraud incident response plan.

" While prevention is clearly preferable to reacting after the event, the lack of a response plan places companies at greater risk and may ultimately result in higher costs," Mr Yap said.

The total estimated cost of fraud incidents rose to S$6.5 million in 2011 from S$5.3 million in 2008, according to KPMG.

Also, for the first time, the survey covered companies' approach to bribery and corruption. It found that 57 per cent were unfamiliar with the laws governing corruption in Singapore, while 85 per cent were unfamiliar with UK laws concerning bribery.

John Lim, chairman of the Singapore Institute of Directors, said the group would be working with KPMG to give companies the relevant training.

He added that this was " of some urgency given that globally, regulators are increasing focus on a board's management of risks and calling for more disclosures on processes used to provide oversight" .

- CNA/al



 
 
pharoah88
    04-Jul-2011 10:18  
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Aussie women headed for the front line?

CANBERRA

A policy overhaul to be decided by the Cabinet within weeks would remove all gender barriers from the military next year, arguably making the Australian Defence Force the world’s leader on gender equality.

Prime Minister Julia Gillard and Defence Minister Stephen Smith are among those calling for the change. Mr Smith has said that “what you do in the forces should be determined by your physical and intellectual capability or capacity, not simply on the basis of sex”.— Women fight for militaries around the world but rarely if ever are allowed to take the jobs most closely associated with soldiering — those focused on ground combat in close quarters and even hand to hand. That may be about to change in Australia.

 
 
hotokee
    04-Jul-2011 10:18  
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Most frauds are always engineered when it happens in listed companies.  Look at those closing down (suspended owing to accounting problems transaction anomalies).  There is a perceived lack of expertise in the police departments (Commercial Affairs Division) to deal with these, I think.  We really need crime busters from the US  or Britain ONLY (CIA & FBI).  Don't recruit from third world countries, please.  Locally listed companies frauds are more widespread than private companies because private companies are mostly directors' stakes while public companies are in public shareholders' funds. So where a fraud exists in a Public company the sufferers are the innocent share investors.

pharoah88      ( Date: 01-Jul-2011 23:41) Posted:

Fraud hits over 1-in-5 firms in S'pore: KPMG
By Lois Calderon | Posted: 30 June 2011 2305 hrs

 
 
Photos 1  of 1

   
 




 

 

SINGAPORE : Fraud has hit more than one-in-five companies in Singapore, suggesting that the attitude towards security may be lax, according to a study released on Thursday by global consultancy firm KPMG.

The latest KPMG Singapore Fraud Survey showed that 22 per cent of companies surveyed reported having experienced fraud - which ranged from financial reporting crimes and corruption, to employee and vendor-related scams.

While that proportion has been roughly the same as three years back, the average number of fraud incidents reported by victims has risen by more than two-fold to nine incidents this year, from 3.8 in 2008, KPMG said.

The survey, which covered directors from locally incorporated and listed companies in Singapore, coincided with the period of the global economic crisis that saw these firms trimming headcount.

KPMG found that the rising incidence of fraud was tied to companies' attitude towards security more than anything else.

" These relate to weak preventive measures [Governance Neglect ? ? ? ?]  on the part of the victims, rather than any particular ingenuity or sophistication on the part of the perpetrators," Bob Yap, head of forensic at KPMG in Singapore, said in a statement.

Unfamiliarity with red flags of fraud, weakness in IT security, and management oversight were identified as three " very significant" causes of fraud.

According to KPMG, 63 per cent of fraud incidents were considered " inside jobs" , with employees being responsible for the largest proportion of company-related crimes.

The survey also found that only 36 per cent of the respondents had completed fraud risk assessments and 31 per cent had conducted training of staff to combat fraud.

It added that 62 per cent had no plans to design and roll out a fraud incident response plan.

" While prevention is clearly preferable to reacting after the event, the lack of a response plan places companies at greater risk and may ultimately result in higher costs," Mr Yap said.

The total estimated cost of fraud incidents rose to S$6.5 million in 2011 from S$5.3 million in 2008, according to KPMG.

Also, for the first time, the survey covered companies' approach to bribery and corruption. It found that 57 per cent were unfamiliar with the laws governing corruption in Singapore, while 85 per cent were unfamiliar with UK laws concerning bribery.

John Lim, chairman of the Singapore Institute of Directors, said the group would be working with KPMG to give companies the relevant training.

He added that this was " of some urgency given that globally, regulators are increasing focus on a board's management of risks and calling for more disclosures on processes used to provide oversight" .

- CNA/al


 
 
pharoah88
    04-Jul-2011 10:04  
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WHEN  gOvernment  takes  CARE  of  CITIZENS'  WELFARE

SOCIETY  becOmes  CARING

N A T U R A L L Y !
 

 
pharoah88
    04-Jul-2011 09:59  
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Mr Heng also shared with reporters what he gleaned from attending the OECD—Japan Seminar on education reform in Tokyo last week, his first overseas trip as Education Minister.

Singapore’s presentation on developing 21st century competencies in students — such as the inculcating of values, a sense of responsibility, care for the community as well as resilience — was well—received, said Mr Heng.

He visited an elementary school and a high school in Tokyo.

Of particular interest was how the Japanese demonstrated civic—consciousness and fortitude in the face of the recent earthquake, tsunami and nuclear disasters. Children are taught to take care of one another and be considerate in school, and this is supported " by a broader social environment," he noted.

Asked how Singapore could achieve this, Mr Heng said it was something society would have to discuss and improve on.

He said: " The Japanese are probably at the forefront of this, in that people show such care for others."



JAPAN is a  WELFARE  FOCUSED  NATION.

JAPANESE  CITIZENS  are  nOt BI-POLARISED.
 
 
pharoah88
    04-Jul-2011 09:56  
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By Channel NewsAsia, Updated: 03/07/2011

Teachers not expected to " do everything" , says Education Minister

Teachers not expected to " do everything" , says Education Minister



Teachers not expected to " do everything" , says Education Minister

Teacher in a Singapore school



SINGAPORE: Teachers will not be expected to do everything, said Education Minister Heng Swee Keat on Sunday.

Mr Heng was at the sidelines of a community sports event and was commenting on the recent announcement that teachers would be trained to understand mental health issues amongst youth and that this would be part and parcel of their work.

The Education Ministry had also called for a tender last week to train Normal (Technical) and Normal (Academic) teachers to understand common mental disorders among youths like self—harm and eating disorders.

In response, sociologist Paulin Straughan had written in to the TODAY newspaper cautioning against placing too many responsibilities on teachers, who already clock long hours. They should not be required to do more than referring at—risk students to trained counsellors, she said.

Asked about the aim of mental health training for teachers on Saturday, Mr Heng said: " We want to train our teachers to be able to help students acquire good habits of managing themselves and managing mental wellness. I think that’s an important life skill."

But he emphasised that this will be done together with other groups, parents, and the broader community.

" I think it’s important we manage the workload of teachers as wellthese are skills which are part and parcel of work but we should not expect that the teacher will do everything," he said.

Mr Heng also shared with reporters what he gleaned from attending the OECD—Japan Seminar on education reform in Tokyo last week, his first overseas trip as Education Minister.

Singapore’s presentation on developing 21st century competencies in students — such as the inculcating of values, a sense of responsibility, care for the community as well as resilience — was well—received, said Mr Heng.

He visited an elementary school and a high school in Tokyo.

Of particular interest was how the Japanese demonstrated civic—consciousness and fortitude in the face of the recent earthquake, tsunami and nuclear disasters. Children are taught to take care of one another and be considerate in school, and this is supported " by a broader social environment," he noted.

Asked how Singapore could achieve this, Mr Heng said it was something society would have to discuss and improve on.

He said: " The Japanese are probably at the forefront of this, in that people show such care for others."

At Sunday’s Community Sports Festival at North East, Mr Heng was joined by fellow Tampines Members of Parliament Baey Yam Keng and Mr Masagos Zulkifli, Minister of State for Home Affairs and Foreign Affairs.

Some 3,000 residents participated in activities like badminton, floorball and a mass walk. The sports festivals of all five community development councils will culminate in the islandwide One Community Walk on July 24.

—CNA/ac
 
 
pharoah88
    04-Jul-2011 09:53  
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The military is a constant wildcard in a nation that has seen almost as many coups as elections. The judiciary also has a record of intervening in politics.

Thaksin or his allies have won the most seats in the past four elections, but the courts reversed the results of the last two polls.

British-born Abhisit took office in a 2008 parliamentary vote after a court ruling threw out the previous administration, and he was accused by his foes of being an unelected puppet of the military and the establishment.
 
 
pharoah88
    04-Jul-2011 09:49  
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ROBINHOOD  ERA

RETURNS

pharoah88      ( Date: 01-Jul-2011 10:26) Posted:



every cOUntry  tOdAy  nEEds 

ROBINHOOD

becAUse  there  are  tOO mAny

ROBBERS

 
 
pharoah88
    04-Jul-2011 09:47  
Contact    Quote!
Thaksin allies win landmark Thai election


pharoah88      ( Date: 01-Jul-2011 10:23) Posted:



Thursday:  Singapore Chinese TV documentary reported that

THASIN  is  " THAI  ROBINHOOD"

劫 富 济 贫

 

 
teeth53
    02-Jul-2011 14:22  
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Na Tan decided to quit, and  now many ordinary folks will never know how will it be,  his score.?.

teeth53      ( Date: 25-Jun-2011 18:32) Posted:



Dr Tony Tan knew it from day one.  A Govt “blessing” could end up being, a kiss of political death.

That why...Dr Tony Tan  took pains to pre-emptively allay concerns regarding his independence,

He now want to be seen as independence of LKY for this EP election.

Even without the Govt’s tacit or express endorsement, the reality is...Dr Tony Tan is widely seen as the Govt’s preferred candidate. It is something he will have to grapple with going into the campaign. who he had been associated with  staunch support for 27 years as  PAP party cadre member to LKY.

Independence has become a prominent theme in the lead-up to the presidential election.

All three hopefuls have a PAP background.

Dr Tan Cheng Bock was a well-liked and outspoken veteran PAP MP.

Mr Tan Kin Lian, former NTUC Income CEO, a former PAP branch secretary. In May GE 2011, Mr Tan spoke at the rallies of the NSP and  at SDP. So Mr Tan also has his work cut out.


 
 
pharoah88
    01-Jul-2011 23:50  
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SENIOR  MANAGEMENT  CAREER

EXTREMELY  RUTHLESS  in  GIRLY  ERA  ? ? ? ?

EVEN  PERFECT  TALENT 

like  MAO

has  to  retIre  EARLY  ? ?  ? ?




NO  MORE  LONG-TERM  PERMANENT  CAREER    in  SENIOR  MANAGEMENT 

eXcept  in  POLITICS  ? ? ? ?
 
 
pharoah88
    01-Jul-2011 23:45  
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By Channel NewsAsia, Updated: 01/07/2011

Chen Show Mao retires from active practice at law firm



Chen Show Mao retires from active practice at law firm

Chen Show Mao



SINGAPORE: Aljunied GRC MP Chen Show Mao has retired as a partner of his law firm Davis Polk.

He announced this in his Facebook page on Friday morning.

Mr Chen said it was clear to him that given his new responsibilities as MP, he will not be able to actively continue practicing law the way he has in the last twenty years.

He said his retirement from the partnership will afford him more time for his family, to serve constituency and country, and to explore alternative work arrangements."

Mr Chen thanked the American law firm, which he has been with since 1992, as well as his colleagues and clients for the many good years with the firm, and reiterated his commitment to Singaporeans.

— CNA/fa
 
 
pharoah88
    01-Jul-2011 23:41  
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Fraud hits over 1-in-5 firms in S'pore: KPMG
By Lois Calderon | Posted: 30 June 2011 2305 hrs

 
 
Photos 1  of 1

   
 




 

 

SINGAPORE : Fraud has hit more than one-in-five companies in Singapore, suggesting that the attitude towards security may be lax, according to a study released on Thursday by global consultancy firm KPMG.

The latest KPMG Singapore Fraud Survey showed that 22 per cent of companies surveyed reported having experienced fraud - which ranged from financial reporting crimes and corruption, to employee and vendor-related scams.

While that proportion has been roughly the same as three years back, the average number of fraud incidents reported by victims has risen by more than two-fold to nine incidents this year, from 3.8 in 2008, KPMG said.

The survey, which covered directors from locally incorporated and listed companies in Singapore, coincided with the period of the global economic crisis that saw these firms trimming headcount.

KPMG found that the rising incidence of fraud was tied to companies' attitude towards security more than anything else.

" These relate to weak preventive measures [Governance Neglect ? ? ? ?]  on the part of the victims, rather than any particular ingenuity or sophistication on the part of the perpetrators," Bob Yap, head of forensic at KPMG in Singapore, said in a statement.

Unfamiliarity with red flags of fraud, weakness in IT security, and management oversight were identified as three " very significant" causes of fraud.

According to KPMG, 63 per cent of fraud incidents were considered " inside jobs" , with employees being responsible for the largest proportion of company-related crimes.

The survey also found that only 36 per cent of the respondents had completed fraud risk assessments and 31 per cent had conducted training of staff to combat fraud.

It added that 62 per cent had no plans to design and roll out a fraud incident response plan.

" While prevention is clearly preferable to reacting after the event, the lack of a response plan places companies at greater risk and may ultimately result in higher costs," Mr Yap said.

The total estimated cost of fraud incidents rose to S$6.5 million in 2011 from S$5.3 million in 2008, according to KPMG.

Also, for the first time, the survey covered companies' approach to bribery and corruption. It found that 57 per cent were unfamiliar with the laws governing corruption in Singapore, while 85 per cent were unfamiliar with UK laws concerning bribery.

John Lim, chairman of the Singapore Institute of Directors, said the group would be working with KPMG to give companies the relevant training.

He added that this was " of some urgency given that globally, regulators are increasing focus on a board's management of risks and calling for more disclosures on processes used to provide oversight" .

- CNA/al

 
 
pharoah88
    01-Jul-2011 23:36  
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O V E R H E A R D :

PhD & many MBAs

are  driving  TAXI.

Job market is  REAL  DIRT  for  SENIOR  MANAGEMENT  POST

niuyear      ( Date: 01-Jul-2011 11:19) Posted:



Re : high salary

Used to hear friends uncle or father (Singaporean)  or so and so worked in US MNC , enjoying perks like US$500,000.00. (pa), housing allowance (if based in china) , fying business class and enjoying PPS club at SIA kris  lounge.....family go holiday 2 times a year and staying in condo or pent houses...wife maciam like tai tai no need work and got maid...

After that subprime crsis,  all become jobless....some driving taxi

iPunter      ( Date: 01-Jul-2011 09:58) Posted:



Frankly speaking,

    In moral terms, high salaries in that

              arena  tends to attract the worst people... Smiley


 
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