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Joined: 07 Mar 2006
Posts: 14468
Location: singapore

PostPosted: Tue Jun 25, 2019 8:30 am    Post subject: Reply with quote

When money 'chiat buay leow'

Genting Chairman Lim Kok Thay's leadership puts our PAP Ministers to shame

June 22nd, 2019

I was most impressed that Tan Sri Lim Kok Thay, Chairman and CEO of Genting Malaysia, has announced during an AGM on 19 June 2019 that he will be voluntarily taking a 20% pay cut in the face of an increased in gaming taxes from 25% to 35% and a decline in business performance.
That was not wayang. There was no need for him to wayang. That was true Leadership. A 20% pay cut will translate to about RM$10 million.

Now, look at the PAP government. Not too long ago, Goh Chok Tong evenhad the audacity and cheek to publicly lamented that PAP Ministers are not paid enough despite them getting from our taxpayers, in a very smallpopulation, the highest political salaries anywhere in the world!

To add insult to injury, he was also quoted as saying that those who earn under S$500,000 annually in the private sector are mediocre. SeniorCounsel Edwin Tong was quoted that his many tens of thousands of dollars in monthly political salaries were also tough on him because he has to support his in-laws too etc. I wonder if he is aware that there are too many married men out there earning much, much lesser than him and are also supporting their in-laws too?....

The above is part of an article posted in TRE by Simon Lim. It reflects on the hypocrisies and realities of people with too much money and some crying money not enough while some knew that it is near insanity to keep wanting more. Sure, the more the merrier, so many said so. Who want not want to have more money?

The pursuit of money for the sake of money, or to have more money than your neighbour would lead to no end. There would come a time when people get an awakening and realise enough is enough. Maybe those with so much money need not feel shameful that their neighbours are earning many times more, need not have to compare with others that are earning millions everyday.

Many people really have money chiat buay leow, depending on their lifestyle, that they could do something more interesting in their lives, more meaning and satisfying than chasing for more money.

Lim Kok Thay is one of them, so is Donald Trump. And there are many in China, including those in top political office and the new rich that regard national pride more than anything else.

When money not enough, it is fair and normal to want more, but up to a point when more money could become quite meaningless in the sense of diminishing return, so much more for what?

When one has only 20 or so years to live, many only a handful of years to live, how much more is needed when one already have millions and dunno what to do with the money?

And there is Mr Oon of Tian Tian Lai chicken rice stall at Maxwell. He also has money chiat buay leow in his own way. Different people have different definition of money chiat buay leow. Some earning millions and still money not enough. Read this as reported in,

Singapore—Kindness and support come in many ways indeed. For one foodstall owner, helping the country’s elderly comes in the form of 100 free plates of Hainanese chicken rice every Wednesday for seniors of thePioneer Generation, Singaporeans born on or before December 31, 1949.

“The government does it their way, I do my own”, said Mr Oon who ownsUncle Sky (Tian Tian Lai) Singapore Hainanese Chicken Rice at Maxwell Food Centre, stalls #01 and 02.

Not only that, Mr Oon does his part for the Merdeka Generation as well. Every single day, both the Merdeka and the Pioneer Generation are given a whopping 50 per cent discount on the chicken rice dish at his stall. This means, instead of paying S$3, the members of the Pioneer andMerdeka Generations only pay S$1.50 for a delicious meal.

Seniorsget a numbered card with which they can claim their meal at Tian Tian Lai—a card that allows them to have not just one but two meals a day.

Mr Oon says he will make the daily discount available until “the stall is no longer around”.
what i posted is just my personal view. feel free to disagree.
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Location: singapore

PostPosted: Fri Jul 05, 2019 8:18 am    Post subject: Reply with quote

Tharman as IMF MD
Singapore — It looks as though Christine Lagarde, who has been serving as the Managing Director and Chairwoman of the International Monetary Fund since 2011, may be leaving her post soon, and the Singapore’s own Tharman Shanmugaratnam, currently a Senior Minister, may be stepping up to the plate.
Ms Lagarde was nominated as the President of the European Central Bank (ECB) on July 2, Tuesday, to outgoing Mario Draghi, and the New York Times (NYT) reported that she is looking to step down from heading the IMF while the ECB nomination is being carried out.

But the question that the NYT posed is whether or not the United States will actually endeavour to get an American to succeed Ms Lagarde. While the World Bank is traditionally chaired by an American, and the IMF, a European, some experts believe that US President Donald Trump may seek to defy this tradition.
Aside from Mr Tharman, who served as the IMF’s chairman of the International Monetary and Financial Committee, the other names on the shortlist of possible IMF heads are a former deputy managing director of the monetary fund, Agustín Carstens; and the former chief executive of Pimco, Mohamed El-Erian....

The above is posted in The post ended with a comment that Tharman is the best person for the job. I also think so, just like I think Tharman is also the best person to be PM of Singapore. But there are two problems to tackle. One, does Tharman want the job? He does not want the job of PM of Singapore and maybe he also does not want the MD job in IMF.

But the more difficult question is whether the Americans would allow it, or whether the European would allow it. Would the Europeans say Europeans are not ready for an Asian to be head of IMF?

Regardless, I would definitely be happy if Tharman becomes the MD of IMF. After all he would not be the PM of Singapore and he is relatively young compares to the rest of the potential candidates. I cannot tahan seeing him wasting his good years as a senior minister in this little island. He still has 20 good years of productive life ahead of him, perhaps the best years in his life.

What do you think?
what i posted is just my personal view. feel free to disagree.
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PostPosted: Fri Dec 13, 2019 8:23 am    Post subject: Reply with quote

SEA Games - Only 3 bronze medals. Asia Masters 16 golds, 12 silvers and 14 bronzes
'NEW CLARK CITY, Philippines: The lack of "stable governance" within the athletics fraternity has cost its athletes, said Singapore Sports Institute’s (SSI) head of high performance and athlete life Richard Gordon, following the sport’s poor outing at the 30th SEA Games.
“We’ve seen a decline in results over the past three SEA Games. We’ve done a lot of work behind the scenes in terms of trying to help (them) to stabilise,” said Mr Gordon at a wrap-up press conference on Wednesday (Dec 11)....

Singapore’s athletics contingent did not win a gold or silver at this year's Games. It bagged three bronze - two courtesy of Shanti Pereira in the 100m and 200m finals and one from Nur Izlyn Zaini in the 100m hurdles.'

The above is quoted in CNA. Singapore's athletes performed miserably in the recent SEA Games held in Manila, without a gold or silver medal. In another report by CNA, 'Team Singapore will send its biggest away contingent to the SEA Games this year, with 647 athletes from 48 sports, the Singapore National Olympic Council (SNOC) announced Thursday (Aug 1).'

I am not sure how many of the 647 athletes are in track and field events but the number must be quite substantial and the amount spent as well. In contrast, Singapore masters athletes competed in the 21st Asia Masters Athletics Championship in Kuching, Sarawak, about the same time and came back with 16 golds, 12 silvers and 14 bronze medals from a contingent of slightly more than 100 athletes.

And mind you, the masters athletes went there to compete, to represent Singapore, to fly the Singapore flag, without getting a single cent from the govt in subsidies. They paid for their own training, with coaches providing free services and advises, and they paid for their registration fees, hotels and air tickets and all expenses. The masters athletes self financed their participation in an international event, to represent their country and flying the Singapore flag in glory, from their very own pockets.

No one can claim this as money well spent but the masters athletes. When would the govt show its appreciation and support for the masters athletes for bringing fame and recognition to Singapore? In this particular event, the masters athletes did not even have track suits or running apparels issued by the state. They have to used old track suits and running apparels. Some have to borrow old track suits from other athletes just to take part in the march past during the opening and closing ceremonies to show that they are from Singapore.

Would the govt think it is better to divert some funds to support the masters athletes for their effort and the golds, silvers and bronzes they brought home in the name of Singapore than to spend millions on the athletes that could not even bring in a single gold or silver medal from the SEA Games after spending millions on them?

The next big masters event is in July 2020 in Toronto, Canada, the World Masters Athletics Championship. Would there be any funds from the govt to support this event and the masters athletes participating? Or would the masters athletes still be footing their own bills and paying for their own track suits with the word Singapore proudly embolden on them? Would the govt think it is more rewarding and better returns for the money spent, to support the masters athletes?

Supporting the masters athletes is value for money. Also to make good all the talks about appreciating the senior citizens, to stay healthy and active in the golden age. The least that the govt could do is to support the masters athletes at the same level as para athletes. Is this too much to ask?
what i posted is just my personal view. feel free to disagree.
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