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Latest Posts By pharoah88 - Supreme      About pharoah88
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17-Aug-2011 12:56 User Research/Opinions   /   your biggest worries?       Go to Message
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Surely locals can lead our companies

Why are foreign MNCs better able than home-grown corporations to spot and appoint local talent to key posts?

Let me begin by saying that I have nothing

Conrad Raj

conrad@mediacorp.com.sg

But it still pains me to find many companies here neglecting to nurture and groom local talent for top posts, preferring instead to hire from abroad.

So I was a little disappointed earlier this week to learn that my former classmate and good friend Koh Poh Tiong, 64, will in October be succeeded as chief executive of Fraser & Neave’s (F& N) food and beverage division by yet another foreign talent — Mr Pascal de Petrini, 51, formerly from the Danone Group.

When Mr Koh left F& N subsidiary Asia Pacific Breweries (APB), he was also succeeded by a foreigner, Belgian Roland Pirmez.

I have nothing against Mr de Petrini.

He may be a great successor to Mr Koh, just as Mr Pirmez has done fabulously at APB, with the company recently reporting record net profits up 18 per cent to S$250.6 million on a 20-per-cent higher turnover of S$2.24 billion.

Could a local talent have done better or just as well?

Perhaps yes, perhaps not, but then we will for the time being never know.

Mr Koh, however, is a true-blooded local talent and in his 26 years with the F& N group has, in the words of chairman Lee Hsien Yang, “served the group with distinction”.

against foreign talent. In fact, some

of my best friends are foreigners. And like

most Singaporeans I do not suffer from

xenophobia. 

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17-Aug-2011 12:47 User Research/Opinions   /   your biggest worries?       Go to Message
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Is capitalism doomed?

The massive volatility and sharp equityprice correction now hitting global financial markets signal that most advanced economies are on the brink of a double-dip recession.

Nouriel Roubini is chairman of Roubini Global Economics, professor of Economics at the Stern School of Business, New York University, and co-author of the book Crisis Economics.


O V E R H E A R D :

COMMUNISM's CENTRAL PLANNING ECONOMY is :

-   STABLE  ? ? ? ?

-  nO  speculation  ? ? ? ?

-  nO  shOrtIng  ? ? ? ?

-  nO  SWINGS of WEALTH  ? ? ? ?

-  nO WEALTH GAP  ? ? ? ?

-  nO  financial crisis  ? ? ? ?-

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17-Aug-2011 12:38 User Research/Opinions   /   your biggest worries?       Go to Message
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tIme  tO sAve

thIs  wAstAge

And  pAy

reAl  bAnk sAvIng Interest rAtes




like  AUSTRALIAN BANKS

NEW ZEALAND BANKS

INDONESIAN BANKS

MALAYSIAN BANKS

pharoah88      ( Date: 17-Aug-2011 12:05) Posted:



All the G7 & G20  are Travel PERKS  ? ? ? ?

wAstIng  tAxpAyers'  tIme & mOney  ? ? ? ?

[WHY  nOt  use  SYPE  VIDEO  CONFERENCE   ? ? ? ?]

After TWO  LONG DECADES of  mOre than  regular meetings  ? ? ? ?

What did they SOLVE ? ? ? ?

ALL  they dId  was to  SOAR  INFLATION  and  REDUCE  SAVINGS INTEREST  RATES  ? ? ? ?

Luostock      ( Date: 17-Aug-2011 10:37) Posted:

After adjustment of Ministers' pay, next must look into CEOs' pay which is too many times of the median wage. Too far a gap is not good for the society. Can some HR experts throw some light on this as I know some will say that the CEOs will run to other countries ? Lastly need to check how some listed companies spend the company money on the many perts (like enjoying holidays, hotels,  etc).


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17-Aug-2011 12:32 User Research/Opinions   /   your biggest worries?       Go to Message
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Investment adviser and former civil servant Tan Jee Say, 57

I agree with Dr Tan Cheng Bock we can’t really pluck the figure from the air, but there are certain benchmarks, and I would disagree with the approach taken by the Government, at least the Prime Minister, in his terms of reference for the Gerard Ee committee — that you benchmark the salaries against the salaries of CEOs, and then you take a discount. I think that is the wrong approach.

The Minister is not a CEO.

[cOmpAre lemOn with lemOn and nOt wIth Apple  ]

He is a public officer [nAtionAl servAnt], looking after the public’s interest. And his salary should be benchmarked to somebody in (the) public sector.

You have Japan, UK, they benchmark their salary to the lowest paid civil servant. And I think we should as public figures, not take the CEO’s salary as the starting point.

I would prefer a certain multiple of (the) minimum salary.

Maybe we don’t have a minimum salary in Singapore, but obviously I would advocate a minimum salary.

But let’s take the lowest salary of a civil servant of the lowest grade. If it is S$1,000, take a multiple of it, whether it’s 20, 30 or 40.

In Japan its 40 times ... I read a report somewhere, because salaries are low.

[It is for this rEAsOn  that  JAPANESE citizens are CALM  in times Of  CRISIS]

In the UK it’s lower than that because the UK salaries are higher. So I would benchmark against a public officer, if not a minimum salary.


gO  fOre Open  tender & Open  TALENT Competition

we wAnt  chEAp  lAbOUr 

In Order tO  be MARKET PRICE  COMPETITIVE


As  Bank Saving Interest Rates are NEAR-ZERO.

Public Service sAlAry  should be nOmInAl  ? ? ? ?

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17-Aug-2011 12:22 User Research/Opinions   /   your biggest worries?       Go to Message
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Former Deputy Prime Minister Tony Tan, 71

The Government has set up a salary committee under the chairmanship of Mr Gerard Ee, comprising of people from a wide sector of society in Singapore, and I’m sure they are studying this issue very seriously.

What compensation the President should get, the Ministers should get, other public office holders (should get) ... We should wait until we get the decision, and whoever is President I’m sure will abide by the recommendation and decision of the committee as determined by the Government.


ASK  the cOmmittee members

" HOW MUCH they are pAyIng  theIr  MAIDS ? ?"

" HOW MUCH they are pAyIng theIr emplOyees ? "

The  OLDER the AGE the  lOwer the SALARY  ? ?

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17-Aug-2011 12:18 User Research/Opinions   /   your biggest worries?       Go to Message
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Former Ayer Rajah MP Tan Cheng Bock, 71

I think it’s a question that is quite difficult to answer.

And you cannot just pluck a figure from the air and say okay this is the amount.

There must be some basis when you make this type of decisions.

And I would say you really have to study the roles and responsibilities of the President. Many people think being the President is just to go around waving hands and so on.

When I read (President) Nathan’s report, I think he’s done a lot of things, apart from the ceremonial role, the custodian role and so on.

I think it’s a lot of work that is being done. Therefore I think before we do this and cut here cut there, let’s study the subject properly.

There’s a committee review, I will go by what the committee has decided.


Employers do not pay salary by volume of work.

Rather salary is pAId by willingness to pAy.

Need to ASK  tax payers  " HOW much they are willing to pAy  ? ? ? ?"

dOn't  ASK  a cOmmittee  whIch  pAys

Other PEOPLE's Money [OPM]  ? ? ? ? 

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17-Aug-2011 12:12 User Research/Opinions   /   your biggest worries?       Go to Message
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Former NTUC Income chief Tan Kin Lian, 63

My position is very clear.

If it is S$4 million, the fair salary is less than half. And if it is reduced by the salary review, probably about half.

I’ve read the views of many people and they say, why are you paying such a big salary when you don’t have much to do.

I want to assure the people of Singapore, if I’m President, there’s a lot of things to do, and even so I want to donate at least half.

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17-Aug-2011 12:10 User Research/Opinions   /   your biggest worries?       Go to Message
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A [UN]fair salary for the President would be ...

The Straits Times held a roundtable discussion for the four presidential hopefuls yesterday. Among the questions posed to them was what they thought would be a “fair salary” for the President. Their replies were:

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17-Aug-2011 12:05 User Research/Opinions   /   your biggest worries?       Go to Message
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All the G7 & G20  are Travel PERKS  ? ? ? ?

wAstIng  tAxpAyers'  tIme & mOney  ? ? ? ?

[WHY  nOt  use  SYPE  VIDEO  CONFERENCE   ? ? ? ?]

After TWO  LONG DECADES of  mOre than  regular meetings  ? ? ? ?

What did they SOLVE ? ? ? ?

ALL  they dId  was to  SOAR  INFLATION  and  REDUCE  SAVINGS INTEREST  RATES  ? ? ? ?

Luostock      ( Date: 17-Aug-2011 10:37) Posted:

After adjustment of Ministers' pay, next must look into CEOs' pay which is too many times of the median wage. Too far a gap is not good for the society. Can some HR experts throw some light on this as I know some will say that the CEOs will run to other countries ? Lastly need to check how some listed companies spend the company money on the many perts (like enjoying holidays, hotels,  etc).

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17-Aug-2011 11:59 User Research/Opinions   /   your biggest worries?       Go to Message
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Recent EmPloyment pass policy changes

Qualifying salaries for EP raised on July 1

Pass type  *    Old qualifying salary    **  Current qualifying salary    ***  From January 2012

Q1                  *  S$2,500                              ** S$2,800                                        *** S$3,000

P2                  * S$3,500                              ** S$4,000                                        *** S$4,500

P1                  * S$7,000                              ** S$8,000                                        *** S$8,000

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17-Aug-2011 10:01 User Research/Opinions   /   your biggest worries?       Go to Message
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‘Govt will respect voters’ choice’

PM Lee urges Singaporeans to consider carefully the qualities of each candidate

Loh Chee Kon g

news editor | cheekong@mediacorp.com.sg

SINGAPORE


sInce  there  Is  cOUncIl of PresIdentIal  AdvIsOrs

dO  we  stIll  nEEd  thE  prEsIdEnt  ? ? ? ?— The well-publicised run-ins between former Deputy Prime Minister Ong Teng Cheong and the Government, during his tenure as Elected President, shows that having previous links to the ruling People’s Action Party does not prevent a presidential candidate from subsequently executing his role independently.

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17-Aug-2011 09:56 Sheng Siong   /   Sheng Siong       Go to Message
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SHENG

&

SIONG

? ? ? ?
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17-Aug-2011 09:47 User Research/Opinions   /   your biggest worries?       Go to Message
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By Channel NewsAsia, Updated: 17/08/2011

PE: It’s Nomination Day for Singapore’s Presidential Election

PE: It’s Nomination Day for Singapore’s Presidential Election

The four candidates given Certificates of Eligibility to contest the 2011 Presidential Election

SINGAPORE: It’s Nomination Day on Wednesday for Singapore’s Presidential Election which is set for August 27.

Four candidates who received their Certificates of Eligibility last week from the Presidential Elections Committee are set to turn up at the Nomination Centre at the People’s Association headquarters when the doors open at 10am.

They are Mr Tan Kin Lian, Dr Tony Tan, Dr Tan Cheng Bock and Mr Tan Jee Say.

It’s the second Nomination Day Singaporeans are witnessing within a span of five months, but this time it’s for the country’s Presidential Election.

And if there’s a contest at the close of nominations at 12.30pm, nearly 2.27 million voters will get to cast their votes islandwide on August 27.

In assessing the suitability of each candidate, the Presidential Elections Committee said all are men of integrity, good character and reputation.

[3 bIg  wOrds  whIch  mEAn  the SAME  THING  ? ? ? ?]

That’s one of the criteria for eligibility.

Other criteria include having served at least three years as a Chairman or CEO of a statutory board or company with a paid—up capital of at least S$100 million, or having served in a similar capacity, under a special clause.

Candidates have one hour from 11am to 12 noon to file their nomination papers.

Half an hour is then set aside for candidates to scrutinise one another’s application forms and if they have any objections, that’s the time they can raise them in writing to the Returning Officer.

And once an election is declared by the Returning Officer, the candidates are expected to go into full swing into their nine—day campaign period.

Each candidate will be allowed to hold one outdoor rally at designated sites approved by the Police and that includes a lunch—time rally site in the heart of the business and financial district.

— CNA/de

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17-Aug-2011 09:41 User Research/Opinions   /   your biggest worries?       Go to Message
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By Channel NewsAsia, Updated: 16/08/2011

PE: PM Lee on what Presidential Election is about

PE: PM Lee on what Presidential Election is about

PM Lee Hsien Loong

SINGAPORE: Prime Minister Lee Hsien Loong has said that getting a Certificate of Eligibility to contest the Presidential Election does not necessarily mean that candidates are all " equally qualified to be President" .

Speaking on the eve of Nomination Day, Mr Lee also stressed that it is important for Singapore to have a good President, and for the President to work closely with the government.

He added that his government will work with the man chosen by voters, whoever he is. Four hopefuls have been issued the Certificate of Eligibility. They are Dr Tony Tan, Dr Tan Cheng Bock, Mr Tan Kin Lian and Mr Tan Jee Say.

Meeting the local media at the Istana on Tuesday, Mr Lee said he felt the need to speak on the issue not because of what any of the presidential hopefuls has said, but because he felt Singaporeans need to know his views and he wanted to give them something to think about when they go to the polls.

Mr Lee reiterated the role and responsibility of the President under the Constitution.

The President has blocking powers in only five areas, such as over the country’s reserves and key appointments.

In all other areas, the President must act in accordance with the advice of the Prime Minister and Cabinet.

Mr Lee also took the opportunity to talk about how his government has worked with President S R Nathan.

He cited the example of how the government had drawn on the reserves during the 2008 global financial crisis.

The proposal was put to the President and the Council of Presidential Advisers who spent days thinking over the matter.

Mr Lee said: " They asked questions, they spent several days thinking the matter over, asked and finally, only after satisfying themselves that this was in Singapore’s best interest and the situation was serious enough to need the draw (on the reserves), that they approved the draw.

" The result was we were able to stabilise the economy, to boost confidence and to recover strongly when the storm passed, but also importantly, we were able to demonstrate how the presidential safeguards were meant to work and could work in a tight situation."

On the relationship between the President and the Prime Minister, Mr Lee said he made it a point to meet Mr Nathan for monthly lunch meetings.

The President, he said, will give his views freely but privately to the Prime Minister.

" We consider very carefully the President’s views although under the system, the final decision is made by the Cabinet," said Mr Lee.

Mr Lee said it is important for both the government and President to have a mutual understanding and constructive relationship and this is how he hopes to work with the next President.

He added that given the troubled global economic landscape, it is important that Singaporeans choose a capable President who can make well—judged decisions in the country’s best interests.

The President also plays an important ceremonial role.

Mr Lee reminded Singaporeans that the President is a unifying figure and he also represents Singapore on the international stage.

For example, Mr Lee said President Nathan’s grasp of international relations helped greatly to enhance Singapore’s friendly relations with many countries.

Asked if a candidate’s association with the ruling People’s Action Party could work against him, Mr Lee said " no" .

" When he becomes President, then he is in a different role, he’s no longer a PAP member and he no longer takes instructions from the party. He’s his own man, as Mr Ong Teng Cheong showed when he became President, and I think that is the way it has to work," said Mr Lee.

" Singapore is a very small society, and if you say you want people to come from completely different corners of the world and never had had any connection with one another, and then that counts as being independent, I think that is not possible," added Mr Lee.

Of the four presidential hopefuls, three have links to the PAP. Dr Tony Tan had served as deputy prime minister and Dr Tan Cheng Bock was a former MP, while former NTUC Income chief Tan Kin Lian was a former PAP member.

While Mr Lee did not want to be drawn into commenting what he thinks of the aspirants, he did repeat his endorsement of Dr Tony Tan.

" I think Dr Tony Tan is eminently qualified and a very good candidate. But I leave it to Singapore voters to make their judgement and I have every confidence they will make a good judgement," he said.

If there is a contest on Nomination Day, Singaporeans will go to the polls on August 27 in the country’s first Presidential Election in 18 years.

— CNA/ir


O V E R H E A R D :

DR  TONY  TAN  is  tOO  Old

sIngApOrEAns  wAnt  a  yOUng  mAn 

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17-Aug-2011 09:31 User Research/Opinions   /   your biggest worries?       Go to Message
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Updated: 16/08/2011

Decomposed body found near the Istana’s back gate

 

Yet another dead body was found this morning, bringing the tally of such cases in recent months to nearly ten. 

The decomposed body was found by the roadside along Cavenagh Road, near the back gates of the Istana after passersby noticed a foul stench in the area. 

Police say, they were notified of this latest case at around 8am today. 

The authorities are currently in the process of establishing the identity of the dead person. 

MediaCorp understands that the race and gender is still unknown because of the state it was in. 

Police have classified the case as an unnatural death. 

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17-Aug-2011 09:28 User Research/Opinions   /   your biggest worries?       Go to Message
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By Channel NewsAsia, Updated: 16/08/2011

Shanmugam clarifies " curry case"

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16-Aug-2011 17:44 Otto Marine   /   OtTo MaRiNe       Go to Message
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Tuesday: 16 August 2011 CLOSING

S$0.147  + S$0.001

Otto Marine has faced many challenges in the past year or so, and its stock price has fallen hard.

So hard that it has appeared to be a bargain to its chairman, Yaw Chee Siew, who stepped up last week to buy the company’s shares for the first time.

He bought 453,000 shares [S$0.014393] in his own name, the only shares in his own name.

He has a deemed interest in another 1.2 billion shares, or 63.38% of the company.

Otto Marine has just reported a $40.9 million loss in 2Q compared to a $17.3 million net profit in the previous corresponding quarter.

The 1H was a loss of $36.8 million, primarily due to:

(1) shipbuilding segment – lower revenue recognition ($68 million) and reversal of profit due to termination of the sales contracts for two large AHTS vessels ($21 million)

(2) geophysical segment – lower utilisation of seismic vessels ($13 million) resulting from increased mobilization time and

(3) other income/expenses – mainly increased losses arising from fair value changes of foreign exchange forward contracts ($9 million).

The above were partially offset by a decrease in foreign exchange losses ($31 million) as well as a decrease in reversal of profit for vessels sold to associates ($4 million).
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16-Aug-2011 17:38 GMG Global   /   GMG CHIONG tomoro -Flash floods hit southern Thail       Go to Message
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Tuesday: 16 August 2011  CLOSING

S$0.205  -S$0.010






After tumbling from about 30 cents six months ago, GMG Global has bought back its own shares for the first time since the stock was listed in November 2008.

GMG bought 2.45 million shares on Aug 11 at between 19.8 cents and 21 cents each.

In 2Q, the rubber plantation operator's revenue surged 257.3% Y-o-Y to S$288.4m.

Net profit grew to S$18.0m from S$9.5m in 2Q10. The Group said its balance sheet is healthy with cash balance of S$103.5m
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16-Aug-2011 17:32 Tech Oil & Gas   /   Attractively high dividend yield >10% counter.       Go to Message
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Tuesday: 16 August 2011  CLOSING 

S$0.860  -S$0.15 

pharoah88      ( Date: 16-Aug-2011 17:30) Posted:



12 August 2011

1.023 Million shares

Buy In  S$0.830 ~ S$0.870




Tuesday: 16 August 2011  CLOSING  S$0.870

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16-Aug-2011 17:30 Tech Oil & Gas   /   Attractively high dividend yield >10% counter.       Go to Message
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12 August 2011

1.023 Million shares

Buy In  S$0.830 ~ S$0.870




Tuesday: 16 August 2011  CLOSING  S$0.870
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