This morning I came in to the office and saw a nice box of Royce chocolates laid out on my desk. With a very sweet note from the boss wishing me “Dear Rachel Happy Birthday!”
Nice…
And Godiva chocolates (again!) from the other colleagues…
And in case you are wondering why, it’s because I made a passing remark that I liked chocolates during one of our lunches..
Damn, I should have said I liked diamonds.
Heh.
29 years ago, on this day, my parents were overjoyed with the birth of their first-born and only daughter.
29 years later, on this day, someone made me a very happy woman with his thoughfulness in planning the itinerary for my birthday.
Germaine bought me a birthday present with her savings from her pocket money, while Geanyne sang me birthday songs in English and Chinese.
And not to mention numerous nice smses from peeps…
So yes, it was indeed a very Happy Birthday.
Now looking forward to the cosy dinner party with the barflies on Saturday…
When nurturing of basic values like character building is shunted in favour of super memory skills.
When subjects like Bible Knowledge is scrapped due to economic futility.
When the leaders at the helm demonstrated that they will not serve the nation, serve the people with a salary that is vastly superlative to that of even the President of the United States.
When the leaders themselves plot to put the old geezers who are no longer of economic value where they belong; out of the country which they had helped to build up for the most part of their lives.
Then you would get sad cases like this, when educated people like lawyers, will remove the old and useless from their own homes. Never mind, it’s their own father.
Loyalty to country? Inclusive society? What is the economic viability? What’s the bottom line?
Earn as much moolah as you can and get out of the country as soon as you can. Before you get exported out. The land is simply too costly here.
TODAY
A home is not home
Ansley Ngansley
WHEN his two children spoke of sending him to an old folks’ home after his
vision waned in July, retiree Peter Chan (not his real name) tried getting a
job, thinking it would make them change their minds.But the 69-year-old — who was then living alone in a rented room — could
not even fill up application forms correctly because of his poor vision.His two children — a son and daughter in their 40s — said they were busy
and could not take care of him.Afraid that he might hurt himself if he lived alone in his condition, his
children left him at the Geylang East Home for the Aged in Aljunied Crescent two
months ago.Defeated and disappointed with his children, Mr Chan, who is divorced, took
some time to get used to living there. The home has 34 residents, 24 of whom
were found sleeping in the streets by social workers.“I already felt lonely living outside on my own. I thought this was worse,”
the quiet, bespectacled man told Today in Mandarin. “But what can I do? I have
to accept my fate.”Since then, Mr Chan has made friends at the home and spends his time
playing games and singing karaoke. He looks forward to Tuesdays, when he meets
his former schoolmates from Chung Cheng High School for lunch and tea.Despite this, Mr Chan still has problems understanding why his son — a
lawyer living with his wife, two young children and mother-in-law — could not
take him into his semi-detached home.He is also sore that his children pay the home $500 a month and do not give
him an allowance.Said Mr Chan: “They said they will only give me money after I have drawn
out all my CPF savings.”But the former civil servant said he does not need the money and would be
happier if his children just realised that all he wants is more time with them.“Whenever I call them to find out how they are, they tell me they are busy
— then hang up quickly,” said Mr Chan. “Money and work are not everything.
Family ties are more important.”
The initial audience of this blog consisted primarily of friends whom I had known from the mothering forum I frequented, and also a handful of close friends.
Now, it has grown to a daily readership of 500 odd readers and a few scattered across the globe too, as I can see from my statistics.
Till date, I must say that my blogders are mainly all very nice normal people, with the exception of ONE.
Asking me rudely personal questions about my sex life is crass and presumptuous. To insist on an answer when I have already told you it is personal and I will not answer, simply shows that you are fanatically posessive. And to leave comments like I am a bitch in my blog, after I have asked you to refrain from contacting me further, is simply sad.
It’s none of your business that my man likes to shower me with gifts and that I like being pampered. And no, I did not “ditch you” because he treats me like his queen. Please do not be delusional. We did not have anything to start with in the first place, much less to speak of ditching.
Please. Get a life.
As for the rest of you who love me to bits, here’s my wishlist for my birthday party next Saturday:
Is this one of their promises again?
Anyway, this should not even be a basis for arguing that a GST hike should be justifiable.
Is there even a need to to hike up the GST in the first place?
If wage increments are projected in the financial forecast, then there would be surpluses in income taxed, w0uldn’t there?
And saying that “the increase in GST was a necessary cog in the wheel to address the widening income gap” is simply oxymoronic. It will merely create a Catch 22 situation. Seems like Steve Chia was not “misleading” in predicting that GST will eventually rise to 7%, 10% and more.
The widening income gap is not caused by the government-proclaimed globalisation. If only they would quit their clumsy attempts at social engineering and manipulating the commerical market, and just focus on getting their basics right, there might just be one less suicide in the future.
Higher wages will offset GST hike for better-off: Defence Minister Teo
Loh Chee KongALLAYING worries that the impending Goods and Services Tax (GST) hike would
be a burden on Singaporeans, Defence Minister Teo Chee Hean said yesterday that
the expected rise in wages for the middle and upper-income groups should offset
the two-percentage-point increase.
Mr Teo, who is also Minister in Charge of the Civil Service and was speaking to reporters on the sidelines of the Public Service Exhibition, also reiterated that the hike was not meant to stretch the low-income group but to grow the resources to help them.
Prime Minister Lee Hsien Loong said on Monday that the GST will rise from 5
per cent to 7 per cent, with more details to be announced during the Budget in
February, together with an “offset package” to help low-wage earners cope.Saying that the increase in GST was a necessary cog in the wheel to address
the widening income gap, Mr Teo reminded Singaporeans that there were other
prongs in the approach.“We also want to make sure the economy grows, and that we have the
flexibility to reduce company tax, personal income tax. (We’ll) encourage people
to be more innovative, and to pay for expenses,” he said.As the Government sets out to help the low-wage earners, a robust economy
would raise the wages of all Singaporeans, including the lower-middle income
group. With the exception of the low-income group, Singaporeans’ increased
earnings would “help them deal with” the GST hike, said Mr Teo.Referring to 1994, when the GST was first introduced, Mr Teo added that the
Government is now experienced in “helping Singaporeans overcome the difficulties
of GST”.More power on your cellphone
By 2008, Singaporeans will be able to access at least 300 Government
services using their mobile devices. Mr Teo Chee Hean made the announcement at
the launch of the Public Service Exhibition at the HDB Hub yesterday morning.Currently, only 150 Government services can be accessed through mobile
devices.Singaporeans can now take part in deciding what services should be
provided, through an SMS feedback service. To take part, key in
mgov, followed by your service suggestion, and send it to 74688.
The line will be open until the end of the year.Those who are not IT-savvy will be able to get assistance at the
CitizenConnect Centres. Twenty-two new centres have been added to the five
existing ones. Besides the ones at the CPF Board’s Service Centre in Jurong and
the Inland Revenue Authority of Singapore office at Novena, the other centres
are located at various community centres and clubs.
Ms Ho kicked-in-the-shin Ching so very graciously attended the recent Morgan Stanley annual Asia Pacific Summit, even after some dude at Morgan Stanley said some nasty untruths about her husband being a prince or what nots. Oh, they fired the bozo? Ah well. All is sunny then.
Anyway, the normally dour and grim Ms Ho attempted humour! Wittiness!
Attempt at wry humour:
“Maybe I didn’t do anything controversial enough”
Attempt at spinning:
“Temasek Holdings is different from most state-owned enterprises in other
countries because the Government does not interfere in its commercial decisions.
…. “But the biggest difference between Temasek and most state-owned
enterprises is how the Singapore Government deliberately refrains from
interfering in commercial decisions and operations.”
Both attempts, very sadly, fail dismally and spectacularly.
The lame attempt at spinning however, had achieved an accidental result of amusement.
Essentially, Ms Ho Ching is trying to put across the point that the Singapore Government was not responsible for the major screw up in the now possibly illegal buy out of Shin Corp.
Secondly, the Singapore Government will deliberately not remove Ms Ho from the helm of Temasek, as it “deliberately refrains from interfering in commercial decisions and operations.”
Note that it is a matter of integrity and principles that the Singapore Government takes such a strong stance on this at this point of time.
Meanwhile excuse me while I refrain from laughing out too loud.
***
TODAY – 15 November 2006
Risk, reward and Shin
Minister tells House why Govt didn’t
meddle with the deal
Loh Chee Kongcheekong@mediacorp.com.sgDID the Government of Singapore agree with Temasek’s investment in Shin Corp? .Was the “political risk” factored in, especially since sentiment was already brewing against former Thai Prime Minister Thaksin Shinawatra when the deal was done with his family? .Was it wise to do deals with families of regional political leaders in the first place?
The questions flew in quick succession, no less than 15 of them, as Members of Parliament put Temasek’s controversial $3-billion-deal under the microscope yesterday. .Patiently, Second Minister for Finance Tharman Shanmugaratnam
answered every one of them and made two clear points. .Firstly, the Government
was not in the business of micro-managing its investment vehicle’s commercial
decisions and it would continue to abide by this policy.Secondly, while Temasek went with what it thought was the best possible advice on this particular transaction — Thai experts included — high returns invariably came with risk. “Asia is where the returns are highest, (but) we’ve got to be willing to take the risk. Occasionally your heart skips a beat, but that’s how you will achieve good long-term returns on our reserves, which is in the interest of Singaporeans,” said Mr Shanmugaratnam.
Mr Inderjit Singh from Ang Mo Kio GRC and Mr Alvin Yeo from Hong Kah GRC had set the ball rolling by asking whether the Government agreed with Temasek’s move to acquire such a large stake in another country’s strategic assets.To this, Mr Shanmugaratnam spelt out the relationship between Temasek and the Singapore Government — a point he was to revisit several times. .As a shareholder, the Government’s role is to appoint a competent board for Temasek, make sure that
its investments are made with due rigour and care and then hold the company
responsible for good long-term returns on its overall portfolio, not individual
deals.“The approach applies to the Shin transaction,” said Mr Shanmugaratnam. “The Government played no part in Temasek’s decision to invest in Shin Corp.
Temasek made its own commercial decision.” .Temasek did not make the decision lightly, either. It studied the possible risk and reward, conferred with Thai and
international advisers and made sure, to the best of its abilities, that no laws
were being broken.“It was not a reckless investment,” Mr Shanmugaratnam. .He also spelt out the basic difference between the Government of Singapore Investment Corporation, which
invests in less risky public markets, and Temasek, which goes in for private equity investments:“The risks will be higher. And we’ll also expect the returns of the Temasek portfolio to be higher over time.” .The proof? Historically, Temasek had delivered an 18 per cent total shareholder return by market value. GIC’s returns were 8 per cent.
Nor was the Government keen to introduce new guidelines, he said, in reference to the suggestion to stay away from dealings with leaders’ families. “It’s hard to know
when to draw the line. Is it families of Prime Ministers? Ministers? Former
ministers? Their siblings? Soon you will be wiping out a substantial part of the
investment opportunities in Asia.”So far, Temasek had been riding the risk well and its
returns since 2002, when it started investing more actively in Asian markets,
were well above 18 per cent, he told Workers’ Party’s Low Thia Khiang
Mr Low also asked how political risk in the case of the Shin Corp deal had
been worked out, especially since Temasek was no ordinary
company and it was dealing with Mr Thaksin’s family.Mr Shanmugaratnam said that Temasek understood its role as a “commercial company with a close link to the Singapore Government” but that the Government would not vet deals on the basis of possible political sensitivities.
In the end, he stressed that the so-called losses on this deal were only on paper and not realised losses. “Temasek went into Shin as a long-term investor. Time will tell how this investment will fare,” he said.
Meanwhile, he said Prime Minister Lee Hsien Loong had clarified to his Thai counterpart Surayud Chulalont that Temasek’s investment had been commercial and independent of Government. “Premier Surayud told Mr Lee that the Thai Government also regarded Temasek’s investment as a commercial deal and that the current investigations would not be politicised,” he said.
Away from the clamour in Parliament, Temasek Holdings’ chief executive Ho Ching was speaking to a group of bankers yesterday at Morgan Stanley’s Asia-Pacific Summit when she was asked about the Shin deal. She was asked how the “controversial” issue was being resolved. .”At the moment your guess is as good as mine,” she said. “We are cautiously optimistic.”
Why am I reminded of Suzhou Park?
The purported text of Andy Xie’s leaked e-mail:
I participated in the panels on Commodity (sic) and China-India and in
some obligatory dinner parties. On Friday night the Singapore prime minister
invited the speakers at the meeting that the Singapore government organised.
Trichet, Larry Summers, Paul Volker (sic) Chuck Price, the finance ministers of
ASEAN countries were there. No government official from China was there …guess I
was there to make it look like China was represented.The dinner was turned into an Oprah with PM Lee Hsein Long (sic) at the
center. The topic was on the future of globalization. People fawned him like a
prince. Of course, he is. There are two reigning princes in the world that the
Davos crowd kiss up to, Jordan and Singapore. The Davos crowd are Republican on
economic issues and democratic on social issues. Somehow they manage to put
aside their moral misgivings and kiss up to Lee Hsein Long and Abdullah.I tried to find out why Singapore was chosen to host the conference. Nobody
knew. Some thought it was a strange choice because Singapore was so far from any
action or the hot topic of China and India. Mumbai or Shanghai would have been a
lot more appropriate. ASEAN has been a failure. Its GDP in nominal dollar terms
has not changed for 10 years. Singapore’s per capita income has not changed
either at $25,000. China’s GDP in dollar terms has tripled during the same
period.I thought the questioners were competing with each other to praise
Singapore as the success story of globalisation. Actually, Singapore’s success
came mainly from being the money laundering center for corrupt Indonesian
businessmen and government officials. Indonesia has no money. So Singapore isn’t
doing well. To sustain its economy, Singapore is building casinos to attract
corrupt money from China.These western people didn’t know what they were talking about. Aside
from the nauseating pleasantries some useful information came out of it. Trichet
sounded very bullish on euro-zone economy (sic). He noted that euro-zone was
catching up with the US in growth rate (sic) and talked about further gain in
2007. His tone was much more bullish than our house view. As Japan is surprising
on the downside, I don’t see how the rise of euro-yen could be stopped.Larry Summers and Paul Volker (sic) were very worried about the US economy.
As you probably know, Alan Greenspan is talking the same way. At the CLSA
conference last week, he talked like one of his critics. There is fear of a US
collapse.Many Americans think that an RMB reval (sic) would save the US. This is
just a dream, in my view.Most were worried about the future of globalisation due
to income inequality. As average workers in the west are not seeing wage
increase (sic), they may vote against globalisation. I thought that they were
understating the benefit from cheap consumer goods. However, as inflation comes
back, it does diminish the benefits for western consumers.No-one was worried about the growth outlook for China and India. The Indian
Planning Minister was very bullish, talking about 9% forever.My sense is that policymakers are relexed (sic) about the short-term
economic outlook but anticipate a US collapse at some point. Americans think
that RMB reval could save the US. So they would keep pressuring China.”Andy Xie
Morgan Stanley
Someone please kindly advise this bimbo here, what exactly is so inflammatory about this email that it would warrant a termination from his employer?? Anyone??
And I thought the primary job scope of a analyst would be just that. To analyse market trends and movements.
Apparently I may be wrong.
A lot have been said about the MRT suicide of Mr Tan and the Wee-Wee saga.
I felt especially sad about the part where Mr Tan gave his son his last $10 before jumping to his death at the tracks.
I felt especially sad that once such as Ms Wee, nurtured to be amongst our future leaders, obviously do not have the capacity to even remotely feel the depair and desperation of a class who would be driven to such.
It brings to mind the works of Durkheim on suicide. It’s pretty dry so I append short summaries on only the relevant point:
Basically there are different types of suicides. one of which is anomie, under which there are several sub-classifications. In Mr tan’s case, it would be classified under Durkheim’s definition of suicide of acute economic anomie.
Acute economic anomie: sporadic decreases in the ability of traditional institutions (such as religion, guilds, social systems, government etc.) to regulate and fulfill social needs.
In other words, I feel that our society is slowly and surely degenerating into one which is such that the destitute and helpless do not know who to turn to for help. The only bleak road out is death. You may say that there ARE ways and means to apply for help and subsidies but the procedural road of hell is paved with so many technicalities and difficulties, so many bureaucratic red tape and unrealistic waiting time that the system could only have happened with the design of people who would not have understood. The elite. People like MP Wee. Possibly future leaders like Wee Shu Min.
Meanwhile, the government would have us know that the economy is getting better and rosier. Bring on the hikes.
Two Singapores The working class and the elite with a wealth gap that’s
tearing apart the society.
By Bernard Leong, a Singaporean research scientist. Oct 24, 2006
Recently, two unrelated events happen at the same time. The first was
about a man named Mr. Tan in his forties committing suicide by jumping off onto
the mass rapid transit tracks.
The man in forties was a working class man.
He was jobless and had a family to feed. He left behind nothing now except his
wife and his kids.The second was about a young and bright student named Wee Shu Min who wrote
an emotive, insensitive and snobbish response to Derek Wee who was lamenting
about the state of affairs in Singapore.For her remarks, she was criticised by various bloggers (Aaron, Ben, Elia,
Kitana, Wee Kiat and of course, everyone from Sammyboy Forums).Her background as the daughter of a member of parliament and a student from
the top junior college (RJC) has further ignited the flames. In any case, if
everyone takes a step back, the whole fiasco is just about the misadventures of
a young spoilt brat.So, why are these two events related? My answer to the question is what I
called the two Singapores.The first speaks of a land of opportunity and meritocracy where local and
foreign talent can compete in a free market and meritocratic system to move up
the corporate ladder of Singapore Inc; and the second depicts a divide that
splits between an educated and self-proclaimed enlightened oligarchy and the
average day Joe.In short, it is the divide between the working class and the elite, and the
wealth gap that is tearing apart the society.In the first Singapore, you are promised that if you are willing to pursue
your dreams and make your dreams come true subject to the social compact, you
will succeed with the blessings of the state.However, the rule is that your dream is defined by the social contract.
In this contract, you exchange your personal political and social freedom
with security, material wealth and protection from the state.By the time you have successfully won the scholarship trophies, your future
is secured no matter what you do in the future unless you commit a hideous
crime. Not everyone might succeed using the scholarship route.Ms Wee belongs to the first Singapore, blessed with a well-endowed
background and talent. That success is fermented into arrogance and a lack of
sensitivity towards the working class.
That comes to the definition of the
second Singapore.In this Singapore, if you don’t succeed by the age of 18 by slogging
through memorising and mugging in your high school education, you become part of
the working class.Since you do not make the first cut, you enter into the social engineering
programme, taking the hypes of that era, from IT to life sciences.Suddenly, you are transformed into a statistic within a Bell curve that
have to find ways to make ends meet, struggle between the high and low economic
cycles due to external circumstances and live with the hope that your children
will live a better life than you.The constant cycle of retraining and retrenchment will squeeze you dry till
you find that life is not worth living. That poor Mr. Tan is part of that
Singapore which Ms Wee did not empathise.
She did not feel that there is a
need to help that part of the society.Our society needs to change, not just in how we deal with each other, but
how we can help each other.Somehow, the win-win culture seems so far away from us, because that is
eroded away by the rat race that begins from the first day of school till you
step into work in society.There are other social problems, which we need to be made aware of. One
friend of mine, who works in the grassroots, are trying hard to champion ways to
help the old and helpless in their financial management in his constituency.For those who do not know, we have an aging population with no enough
wealth to last them till their deaths. These old and aged were promised a
peaceful retirement with enough wealth from their central provident fund (CPF).However, once they retire, they realise that it is not enough to tide them
till death. Inevitably, they have to return to work again.If the problem of a poor and desperate working class man is not enough to
make society wake up, it might be better if we take a microscope and really
examine parts of the society that are suffering from problems masked off.Perhaps, we should cultivate our young to understand the social problems,
not by providing them textbooks but real examples through the discourse of
social work.If there is one other thing that we can ever persuade our efficient and
productive civil service, we need to re-examine our scholarship system, because
the system is easily beaten by people who are endowed with better resources.I would not even go to the extent by saying that the examinations for these
students are far too easier than those in the past. Meritocracy is a
double-edged sword that can be helpful or be detrimental to our civil service.In order to maximise the returns from a student’s point of view, there are
times where an individual will exploit the meritocratic system that will
contradict morality, credibility and hard work.Our brilliant elite students have now reached the level where it is easy to
beat the system with their resources, and there remains no means and ways to
test their moral fibre in contributing back to our society as civil servants.The solution is not one silver bullet but a whole array of approaches that
stretch from the areas of education to healthcare (and the CPF).Ultimately, we have learnt that too much of everything is bad. Finding a
middle way between our capitalist and democratic socialist approaches will be
key to repair the rift between the two Singapores.Quote of the Day:
“Today, under George W. Bush, there are two Americas, not one: One America
that does the work, another that reaps the reward. One America that pays the
taxes, another America that gets the tax breaks. One America – middle-class
America – whose needs Washington has long forgotten, another America -
narrow-interest America – whose every wish is Washington’s command. One America
that is struggling to get by, another America that can buy anything it wants,
even a Congress and a president.”- John Edwards, Vice-Presidential candidate
2004
As opposed to some peeps who constantly have to rub other people’s faces in the happiness of their relationships, eg.
My husband just had to buy me a red Lotus Elise S2 cos I finally
passed my driving test!My husband [
insert details of fantabulous activity or fantabulously expensive
something he bought for her].Blah Blah Blah.
My posts about the someone in my life is not about all that shite.
The purpose of my blogging about the nice things he has done for me, the sweetness with which he gives in to me on some issues, and the imperturbable temper (what temper?) he has, as opposed to my nasty spoilt brat tantrums at times, is just that.
To remind myself that he is such a sweet, nice and lovable gem.
To remind myself not to take him for granted.
To remind myself to appreciate him for what he is.
Nice to see that the KTM has regained his mojo and again demonstrated his delicious frying skills after a hiatus.
As usual, KTM razor analysis and insight is impeccable. But the fifth point of his musing rant held me in enthrallment.
Fifth, timing is everything. Why so kuncheong spider?
It is an economic reality that if Hong Kong reduces its corporate taxes, we
have to follow suit. If we don’t, we mati…. but hor, they haven’t yet leh. Why
we so kuncheong? They are even having a hard time getting their GST legislated.
While preparations should be made for contingencies, it is not clear we do a
pre-emptive strike.All the legislation and preparation for reducing corportate taxes could
have been made on the quiet and shelved, and taken out only after Hong Kong has
fired their volley. Once they (Hong Kong) do it, we have one or two regional MNC
HQs move to HK, then we reduce corporate taxes also not too late what (or
perhaps the KTM is dreaming).Actually hor, if MNCs want to move their regional HQs because of the lower
corporate tax rates, they also need time. They will not do it overnight. As long
as we have a pulse on what’s going on and we can reduce our own tax rate faster
than the time it takes for them to source for a new corporate HQ building in
Hong Kong, we’re okay.Or perhaps we can at least delay the announcement of the increase in GST
until after Hong Kong gets their GST? There’s still another half a year before
the next Budget and we’re only six months from the last Election. Why the
hurry??
Why the hurry?? Why indeed.
Could it be that golden girl has screwed up and therefore steps have to be taken to assuage the damage of the $4.5 billion mistake? After all, they did try… but after the news got leaked out, it was hushed up to quell another PR disaster.
And of course, knowing our beloved leaders, it will not be taken out of their pockets. (What do you think, they would propose a ministerial paycut as they proposed a CPF cut for us during the last financial ennui?! And promises of reinstating the cut have of course been conveniently forgotten during the economic upturn. Instead, now we get an increase in GST. Dainty.
And we all know that a CEO of any self respecting global corporation would have her ass promptly fired for a self inflicted mistake amounting to billions. And taxpayers’ money at that too.
And as of today, she still yields sovereignty at Temasek.
Shocker.
Not. What, did you think being the daughter-in-law of Lee Kuan Yew is diddly squat?!
New development in the Temask-Shin saga:
Peter Alford, Tokyo correspondent
October 25, 2006 OF the slew of actions now afoot over the sale of Thailand’s Shin Corp to
Temasek Holdings, the one that could most hurt the already bruised Singaporeans
is an action initiated by a junior academic at Bangkok’s Rangsit
University.The Central Administrative Court has agreed to try an action by Sattra
Toa-on, a 28-year-old law lecturer, against state regulators over their alleged
failure to enforce rules that would have prevented then prime minister Thaksin
Shinawatra’s family from selling control of the Shin Corp communications group
for 73.2 billion baht ($2.6 billion) to the Singapore government investment
company.After initially buying 49.6 per cent of Thailand’s biggest telecoms group
from Thaksin’s children and relatives in January, the Temasek-led consortium now
owns 96 per cent of Shin Corp equity. Temasek itself claims an “economic
interest” in 76 per cent of the group.Thaksin is exiled in London, having been
overthrown five weeks ago by a coup that culminated in a series of explosive
events sparked by the initial Shin Corp purchase.This deal was already turning into a stinker for the Singaporeans. They’re
currently down about Bt23 billion on the market value of the investment and,
though they insist they behaved with perfect propriety, Singapore Inc’s
reputation for fastidiousness has hardly been burnished.Sattra’s legal action is further bad news because it calls into question
the fundamental legality of the Shin Corp deal. It alleges the use of nominally
Thai-owned but Singapore-controlled front companies to flout the country’s 49
per cent limit on foreign ownership of strategic assets was clearly in breach of
the law but that the state regulatory agencies refused even to
investigate.That’s a bad thing by implication too for the 13,000 or so foreign
investors in Thai corporations and property who use nominee structures to dodge
foreign investment restrictions. Already 16 other large takeovers that employed
apparent nominee companies have been singled out for retrospective
investigation.Sattra’s suit makes more difficult Temasek’s attempts to produce what might
be described as an administrative resolution to the foreign ownership problems
it created by grabbing for Shin Corp when Thaksin’s family offered it on a
plate.The case will delay any attempt to dilute Temasek’s stake below the legal
foreign ownership ceiling before other adverse findings arise. (The alleged use
of a suspected nominee company, Kularb Kaew, is under police investigation and a
report is expected by the end of November.)Several Thai investment funds have indicated tentative interest in helping
Temasek lighten its holdings at “reasonable” prices – that is, considerably less
than the unprecedented Bt49.25 per share Temasek’s consortium paid Thaksin’s kin
in January (the shares are trading around Bt34 this week). But there’s little
apparent interest from the big corporate investors Temasek would need to bed
down much of what, even at current depressed prices, would amount to almost Bt50
billion of stock.In any case it’s hard to envisage anyone taking a share placement large or
small until Sattra’s action is settled.If he succeeded in proving to the court
that the regulators, under Thaksin’s thumb, refused even to investigate foreign
ownership breaches, the state licences for Thailand’s largest mobile phone, the
iTV television network and the country’s only commercial satellite operator,
among other assets, would be at considerable risk.Most foreign investors in Bangkok blame the system for the Shin Corp
fiasco. It’s certainly undeniable that for three decades, Thai governments and
bureaucrats have winked at increasingly barefaced abuses of foreign ownership
rules, arguing, when pressed, the country’s need for imported capital.Rather than address that need and confront the naive economic nationalism
that still prevails in Thai public discussion, successive governments have
allowed the use of nominee companies and other devices to create the legal
fiction of Thai ownership of assets that have in fact passed into foreign
control.In doing so they have allowed a whole class of fixers and rent-seekers to
line their pockets – among them some of the kingdom’s wealthier people – because
what better circumstantial evidence is there that you are not a foreign
corporation’s puppet if you have the means to own what you say you own?In the current case, the funding and ownership entitlements of the Thai
partners in Temasek’s consortium become a crucial issue.No prime minister should
have been more aware than Thaksin, a billionaire former businessman on intimate
terms with international investment flows, of the distortions and corrupt
possibilities in his country’s defacto foreign investment regime.And no previous prime minister had Thaksin’s opportunities to fix the
problem – two clear terms in office during which he thoroughly dominated the
government, the parliament and the bureaucracy.Instead, Thaksin sat on his hands
until, in what turned out to be his final months in office, his family
and Temasek conspired to exploit the system’s shortcomings in the most
spectacular fashion.One consequence was that the Thaksin family was able to cash-out of Shin
Corp at a price never seen before or since.Now foreign business people in
Bangkok, the law firms who facilitated exploitation of the current system and
the Board of Trade, which mediates between foreign investors and the government,
are quietly urging General Surayud Chulanont’s interim administration to let
Temasek off the hook, on condition it divests to below the 49 per cent
ceiling.Then let’s start again with clear, realistic foreign ownership rules, say
some, warning that the alternative is a permanent loss of confidence in Thailand
as an investment destination.Almost incredibly, however, others urge a
cooling-off period, then a quiet return to the old “pragmatic” system. Prominent
among them are property developers and lawyers who know the ways they’ve been
marketing land titles to foreigners would not survive scrutiny even under more
enlightened and transparent foreign ownership regimes.In the meantime, however, Bangkok lawyers and corporate advisers are
telling foreign investors they need to expect their investment structures to be
carefully scrutinised by Thai regulators. Everyone now awaits developments in
the Temasek case.
Note: using today’s exchange rate, the paper loss of 23 billion
Baht is equivalent to S$968,735,546.40, or US$616,126,398.90.
That’s a whole lot of moolah to me, the non elitist.
MPs decry whinging Singaporeans, call for soul searching – Yahoo news
SINGAPORE: Instead of harping on what the Government can do to bridge the social divide, the spotlight in Parliament on Thursday fell on Singaporeans. And there were some home truths told, too.
“A nation of complainers” and “a society increasing reliant on the Government for help” were among the sadder – and harsher – labels mentioned. Member of Parliament for Sembawang Group Representation Constituency (GRC) Dr Mohamad Maliki Osman started the ball rolling when he called for “reflection and soul searching” among Singaporeans. Dr Maliki noted Singaporeans had become increasing reliant on an “efficient system” that handles issues on the municipal and national level. He said: “When the lift landing of our flat is not clean … we call the town council; when there are mosquitoes in the neighbourhood, we call the NEA (National Environment Agency) … if things don’t improve, we go to our MPs or tell the media.”While not advocating that the Government be taken out of the “equation”, Dr Maliki hopes to see that the “responsibility to make the society work rests not only on those in the chamber”, but also on “the collective interlocking hands of four million Singaporeans”. For example, he wanted Singaporeans to reflect on what they, and not the Government, had done to strengthen resilience within their own families.
MP for Marine Parade GRC Lim Biow Chuan called on Singaporeans to be more gracious and compassionate and said Singapore is fast becoming a nation of complainers. While the Government can set the tone, he urged Singaporeans to be “encouragers” – not only in encouraging fellow citizens, but also pushing the society to be an inclusive and cohesive one.
“What makes a country great? It is not just the laws … the efficiency or the beautiful buildings but the people that make it great,” Mr Lim said.
East Coast GRC MP Ms Jessica Tan urged Singaporeans and the Government to also provide an environment where “people can run their own race”. Using the example of a weekend running club, which she is a member of, Ms Tan said the encouragement from each other helps members to complete their runs. Likewise, she hoped that such encouragement would make “the journey much better” for all Singaporeans.
Do you know what this means, people? We are getting official go ahead, from our MPs, no less!
Quit the whining! Cue in the action!
NOT HAPPY ABOUT GST HIKES? Quit being “a society increasing reliant on the Government for help”.
Never mind that the goverment is the culprit for making this country a nanny state. Never mind that the government insists on putting its unwanted claws into social engineering.
Does this mean that we can do this without being surrounded by policemen or locked away for public mischief?
But what do I know. Me is only a bimbotic non-elitist.
Remember I blogged that they will have price hikes after the Election? The transport hike is happening. Now, GST. Yippee!! I so love to be proven correct. Coincidentally, Kaffein-nated also blogged about hikes today.
Thanks to you, you and you who are part of the 666 66.6%. Thank you so very much. Finish spending your handout progress package money? Now is payback time.
Singapore to raise GST to 7%
Nov 13, 2006 AsiaOne
Singapore’s goods and services tax (GST) will be raised from 5 per cent to 7 per cent, Prime Minister Lee Hsien Loong announced in Parliament today.Bloomberg news agency said he would announce the details when he
presents next year’s budget on Feb 15. The Government is also making changes to
income taxes to make Singapore more competitive, and is also proposing an
amendment to the constitution to extend government’s spending from national
reserves’ investment income to include realised capital gains, on top of
dividends and interest, said Bloomberg.Responding to issues raised by MPs, who are debating on the President’s
He said it was better to increase the GST when the economy is doing
address, PM Lee said that the GST increase would help finance enhanced social
safety nets to help lower-income Singaporeans.
well so that “we can manage the adjustment, and we have the flexibility to
adjust our programs depending on how things turn out.” PM Lee said
that globalisation had led to a widening income gap in Singapore, and
Singaporeans would have to deal with its impact.He added that this was something that could strain the country’s social
compact, and this was why it was essential to have a whole set of measures to
tilt playing field in favour of the lower income group.GST is a tax on domestic consumption and the
wholesale and retail trade sector contributes a significant portion of the
annual net GST revenue.The tax is paid when personal income is spent rather than when
it is earned.This encourages savings and prudent investments instead of
consumption, rewards enterprise and strengthens Singapore’s position as an
attractive business hub for foreign investments.GST is a multi-stage tax collected at every stage of the
production and distribution cycle. The tax is collected by GST registered
businesses (collection agents), and a credit offset mechanism allows the GST
registered businesses to recover the taxes paid on their purchases.GST is not a direct cost to a business unless it supplies
exempt goods or services, provides employee fringe benefits or does not register
as a collection agent. Thus, the final and total burden of GST is borne by the
domestic consumer.
OK, so the thriving economy is a compelling reason to hike GST. What if there is a downward spiral in the future? Would there be a cut in GST? That happening, is as likely as Ms Ho Ching being a beauty. Stellar example of money aren’t everything.
*********
Budget Debate Roundup Speech
Extracts from section 6. You can view the full contents here. As usual, I have filtered out the fundamentalist bullshit and only highlighted the amusing points on which I wish to have further laughs.
76. Now, let me talk about one very important issue which MPs have raised, and that is, funding this budget. Several MPs, including Mr Yeo Guat Kwang, Mr Chew Heng Ching, have asked if this Budget’s stance diverges from our principle of fiscal prudence and our longer-term sustainability. And Mr Ong Kian Min had asked if we should have been more tight-fisted and withheld some of the generous cash give-aways.
No, Mr Ong, pity progress packages of a couple hundred dollars ARE NOT not really considered generous give-aways. Monthly handouts of S$13,000 to people with a overwhelming sense of entitlement in underperformance of a part job ARE. Monthly handouts of S$13,000 to people with a tendency of being tight fisted to their countrymen of lesser means ARE. Monthly handouts of S$13,000 to people who are so busy with their full time careers that they have no time for their part time jobs which they still greedily take on ARE.
79. Second, our Progress Package is not a permanent programme. It is once-off. We are not promising this every year or every five years or every so many years. It is once-off, needed this time because we are restructuring, because the economy has turned good, and yet we know that there are some segments of the population needing help. So, a Progress Package is justified.
Please, it is merely coincidental that a payoff surplus package is given out every four or five years and also coincidentally a couple of weeks before the General Elections. All you conspiracy theorists out there, please take your respective theories and shove it where our CPF funds are the sun don’t shine ok?
90. So, we have enough funds with some left over. But let us not
exaggerate. TODAY reported on the 24th of February that the Government is able
to draw on capital receipts from statutory boards in the current term and such
receipts raked in $13.42 billion between the fiscal years 2002 and 2005. Mr
Steve Chia yesterday further inflated this figure to $19 billion.91. Steve Chia says that he is misled and that the
people are misled by the Government. But actually it is Mr Steve Chia who is
misleading all of us because these numbers are all incorrect. We do not
have $13.42 billion of capital receipts to draw on as reported by TODAY, let
alone $19 billion as claimed by Steve Chia.92. Let me explain. TODAY’s main error is to treat capital receipts from the sale of Government land as money we can spend. These land sales add up to more $10 billion, but they are locked up, as past reserves, and cannot be touched because this is not new money. It is not earned, it is not capital gains, it is just transformation of a piece of land into cash, transformation of one asset into the other. The land has been locked up, so the cash proceeds are also locked up. This was TODAY’s mistake. Steve Chia also made this mistake but I believe he must have made some other mistakes in order to reach such a huge
number.
Steve is a master in misleading, I tell you. In addition to misleading us in the capital figures, he has also misled us into thinking that GST hike will eventually hit 7% and more! I AGREE WITH the white supremists that this man should be shamed publicly. Oh, I forgot. He has been, what with all the brohaha about the phototaking shenanigans with his maid. Tsk tsk tsk.
More juicy morsels of dissimulation from Mr Steve Chia:
First, like several other MPs yesterday, I want to talk about the impact of
the GST on the poor and the ageing Singaporean workers. Second, I disagree with
cuts in the top marginal personal income tax as a means for promoting business.
Third, the corporate tax cut is not bold enough to increase Singapore’s
competitiveness. Fourth, as Singapore moves towards greater indirect taxation,
the anticipated impact of future GST increases should warrant exemption of
essential goods and services from this tax. Last but not least, I support Prof.
Chin’s call on the Government to use the funds collected from the additional
COEs to help HDB cover its car park building cost.As I study the impact in detail, I become more
and more convinced that these Budget changes and the recommendations of the ERC are from the rich, by the rich and for the rich – to make the rich even
richer. The income gap between the talented and the workers is
going to widen drastically. More has to be done to help the poor, the
unskilled and the untalented to cope with this rising wealth gap. Otherwise, in
our effort to rebuild our economy, the social cohesion and fabric of our society
will risk being threatened and crumble in the long run, leading to detrimental
results.
Eh, what nonsense is this?! The widening gap is caused by globalisation as reiterated to us by our esteemed PM, NOT by poorly crafted, ill thought-out Budget changes ok! He should really be charged with public mischief. So mischievous, this man.
It is quite certain that after the five years of offset measures,
the lower income and the ageing workers will become poorer, especially for the
ageing workers who had been paying taxes in their younger days. Over the last 30
years of nation building, they had contributed in their own ways to help build
Singapore into this developed society. They, the older workers, are retiring
soon, or some of them have already retired. But they are going to continue to
face paying GST right up to their deathbeds and even into their coffins.
This is not right. The Government should look into how
it can waive the GST completely for the retirees and senior citizens. They have
done their share of duty to serve the country. We should recognise their
contribution and exempt them from this tax burden in their twilight years. The
Government may have recognised this problem and adjusted the pension allowance
for retired civil servants. But how about many other retirees and blue collar
workers from the private sector? I believe the Government can do a lot more for
this generation of nation building senior citizens not from the civil service
too.
Singapore Inc is run exactly like that. A monetary-minded tight ship with disdain towards socialism. Any employees not contributing to the profit margin in a current context should be just retrenched, in the good words of SM Goh Chok Tong.
“Retrenchment is good for Singapore. If there are no
retrenchments, then I worry for Singapore” – Senior Minister Goh Chok Tong
Therefore, if you are an old geezer and not contributing to the thriving economy of Singapore (a compelling factor to raise GST), you should pay more and more GST till you literally drop dead. This is irony at its best.
And people are asking me why I am seriously planning to migrate.
Why, indeed.
I just picked this off Whispers from the Heart, who basically, is a much much nicer person than I can ever be.. Incidentally, she is one of the very few teachers that I respect. Here’s a parody of the Wee Shu Min extract written by her son (it’s caustically humourous and very hilarious). I have bold out my favourite bits..
mom’s friend sent her some blog post by some bleeding stupid
18-year old singaporean called Elite- wee (WHY do all the idiots become Elites,
why?!) whining about how singapore is such a paradise, how elites (ie, 83 of
them and more, all wearing white) leeched from their well-paid jobs, how the
pool of singkie peasants (dismissively chucked between inverted commas) is
really a tsunami that will consume them all (no actually he didn’t say that, he
probably said THAT’S THE BRUTAL TRUTH, DEARIE.), how the reason why everyone
wants elite kids is that they’re the only bunch in this world immuned to fragile
ricebowls, how the government really needs to save elites from inevitable
boredom of wearing white but they aren’t because they are peanuts-shoved-up-ass
elites who control how their wardrobe works, yadayadayadayada.i am inclined – too much, perhaps – to dismiss such people as crackpots. stupid crackpots. the
sadder class. too often singaporeans – both the neighborhood poor and 66.6%
socialites who sell their souls for upgraded lifts – kid themselves into
believing that our society, like most others, is compartmentalized by breeding.ridiculous. we are not a tyranny of the academically capable and the clever, we,
the peasants are the upper class, their masters with the whip.sad Wee attracted
more than 50 comments praising him for his poignant views, egging in a chorus of
rejoinders that climax at the accusation of lack of peasant intelligence in the
form of good spelling and grammar because his all-too-true views had been
rejected by the singkie forum. while i tend to gripe about how we only have one
functioning 83-yr old elite in the cabinet (he issues all visions for
Singapore), i think the main reason for its lack of recognition was that his
incensed diatribe was written in pathetic little scraps that passed off as
sentences, with poor spelling and no grammar. there was also a total lack of
sensitivity to peasant feelings.WEE, wee, wee darling, how can you expect to have an iron ricebowl or a solid future if you cannot empathise accordingly? to become the top drawer in the cabinet, one need to suck ass with the right sensitivity level. didn’t your father teach you this?
if you’re an elitist, life will give you less balls. that’s just how things go. there’s no point in
lambasting the peasants for making your paradise one that is, i quote, “far too
intellectually unstimulating lacking good spelling and grammar”. it’s the same
everywhere. yes mediocrity exists, and it is sad, but most of the time if people
like you are preferred over others, it’s because you made it so.it’s so sad when people like Elite-wee lament the kind of world that singapore will be if we
make it so uncertain for them. go be friggin dictator in another peesai, if
uncertainty of success offends you so much – you will certainly be proclaimed a
talent and a visionary. More so if you are a knuckledusters-wearing-bully in a
cul de sac, which, given your ball-less elitist penchant, i doubt. then again,
it’s easy for me to say. my future isn’t in leeching on the system but i guess
right now it’s a lot brighter than most elite’s.Wee will read this and brand me as an 18-year old peasant, one of the quitters who will chabo the country. go ahead.
the world is about winners and losers. it’s only sad when people who
could be winners are marginalised and oppressed by the elites.is dear Wee repentant? has dear Wee been denied a right of reply? has dear Wee been forced
into shutting his blog? has dear Wee had his political career massacred by the
government?i should think not. dear Wee is one of many wretched, undermotivated,
overassuming leeches in our country, and in this world. one of those who would
prefer to be waxing lyrical about how his myriad talents are being abandoned for
a life of serving the peasants, instead of earning a decent, stable living as a
Elite professional. it’s not even about being a representative of the people.
these shitbags don’t want anything without “$$” and a guaranteed risk-free
career.please, get your fucking elite uncaring face off this tiny dot.
***
OK, if we get more young Singaporeans of this calibre, with humour and intelligence intact, I have a more optimistic view for the future of Singapore…
After a while, Daddy joins his little girl in the game of putting feet in mouth…
‘What she said did come across as insensitive. The language
was stronger than what most people could take.But she wrote in a private blog and I feel that her privacy
has been violated. After all, they were the rantings of an 18-year-old among
friends.I think if you cut through the insensitivity of the language,
her basic point is reasonable, that is, that a well-educated university graduate
who works for a multinational company should not be bemoaning about the
Government and get on with the challenges in life.Nonetheless, I have counselled her to learn from it. Some people cannot take the brutal truth and that sort of
language, so she ought to learn from it.IIn our current desire to encourage more debate, especially
through the Internet, our comments must be tempered with
sensitivity.I will not gag her, since she’s 18 and should be able to stand
by what she says.The new media of the Internet is such that if you don’t like
what she has said, you have the right of rebuttal.Hopefully, after the
discussion, everyone will be the richer for it.As a parent, I may not have inculcated the appropriate level
- ANG MO KIO GRC MP WEE SIEW KIM on his daughter’s comments
of sensitivity, but she has learnt a lesson, and it’s good that she has learnt
it at such an early stage in life.’
(Source: The Straits Times, 24 Oct 2006)
****
Why? Why do people never learn? Is this a family-stand-together thing? Daughter gets flamed, and therefore daddy should join in the fray?
This is political maneuvering at its most gauche.
And note that Daddy Dearest said, “Some people cannot take the brutal truth”…which is in simple English:
1. He agrees with her in principle, but perhaps the phraseology is unsophisticated.
2. You losers out there, just too bad you are not the elites like them, now “get out of their elite uncaring faces”.
3. Open fire declared. Snipers welcome.
Why??? Why are the supposed elitists so unbelievably stupid and unsophisticated?
I have acutely controlled myself to refrain from blogging about this earlier. I know that if I had, it would be effluent with vitriolic sarcasm and disgust.
Ms Wee Shu Min had impressed me inversely with her impecunious possession of street smarts and emotional intelligence. It seems to me that she veers portentously towards elitism and arrogance, always a steep flume of which the current politicians don’t seem to be able to find their way out of. That is also a spectacularly poor piece of writing, especially from a student of Raffles Junior College.
And girl, for all your arrogance about your superiority in spelling ability, you seem to have a calamitous deficiency in punctuation and syntax. Then again, it’s strange as seeing you would probably need to have a minimum of an A1 in any subject to get into RJC… I also take it that you probably did not major in English Literature as seeing that strong analytical presentation and a sensible dissertation of themes and narratives would be essential, both of which you seem sorely bereft of.
Hmm wonder if Daddy has been pulling anything remotely like strings…
And just in case, you think I agree with Derek Wee’s views and lamentations… for the record, I don’t.
I do accede that it’s a hard world where the fittest and most intelligent (emotionally and mentally) will win the race. I do agree that there are winners and there are losers. I do agree that it’s sad when people who could be winners are marginalized and oppressed. Most of all, I agree that there are indeed many undermotivated and overassuming leeches in middle management.
However, I believe in outlining your arguments in an objective and analytical manner, and not embarking on a personal attack.
An excerpt of her blog post below, you judge for yourself.
PS: IN CASE YOU THINK THIS PARTICULAR POSTING SOUNDS SO DISGUSTINGLY AND ELITISTLY STUFFY, IT IS DELIBERATE.
*****
Thursday, October 19, 2006
mom’s friend sent her some blog post by some bleeding stupid 40-year old
singaporean called derek wee (WHY do all the idiots have my surname why?!)
whining about how singapore is such an insecure place, how old ppl (ie, 40 and
above) fear for their jobs, how the pool of foreign “talent” (dismissively
chucked between inverted commas) is really a tsunami that will consume us all
(no actually he didn’t say that, he probably said Fouren Talern Bery Bad.), how
the reason why no one wants kids is that they’re a liability in this world of
fragile ricebowls, how the government really needs to save us from inevitable
doom but they aren’t because they are stick-shoved-up-ass elites who have no
idea how the world works, yadayadayadayada.i am inclined – too much, perhaps -
to dismiss such people as crackpots. stupid crackpots. the sadder class. too
often singaporeans – both the neighborhood poor and the red-taloned socialites -
kid themselves into believing that our society, like most others, is
compartmentalized by breeding. ridiculous. we are a tyranny of the capable and
the clever, and the only other class is the complement.sad derek attracted more
than 50 comments praising him for his poignant views, joining him in a chorus of
complaints that climax at the accusation of lack of press freedom because his
all-too-true views had been rejected by the straits times forum. while i tend to
gripe about how we only have one functioning newspaper too, i think the main
reason for its lack of publication was that his incensed diatribe was written in
pathetic little scraps that passed off as sentences, with poor spelling and no
grammar.derek, derek, derek darling, how can you expect to have an iron ricebowl or
a solid future if you cannot spell?if you’re not good enough, life will kick you
in the balls. that’s just how things go. there’s no point in lambasting the
government for making our society one that is, i quote, “far too survival of
fittest”. it’s the same everywhere. yes discrimination exists, and it is sad,
but most of the time if people would prefer hiring other people over you, it’s
because they’re better. it’s so sad when people like old derek lament the kind
of world that singapore will be if we make it so uncertain. go be friggin
communist, if uncertainty of success offends you so much – you will certainly be
poor and miserable. unless you are an arm-twisting commie bully, which, given
your whiny middle-class undereducated penchant, i doubt.then again, it’s easy
for me to say. my future isn’t certain but i guess right now it’s a lot brighter
than most people’s. derek will read this and brand me as an 18-year old elite,
one of the sinners who will inherit the country and run his stock to the gutter.
go ahead. the world is about winners and losers. it’s only sad when people who
could be winners are marginalised and oppressed. is dear derek starving? has
dear derek been denied an education? has dear derek been forced into child
prostitution? has dear derek had his clan massacred by the government?i should
think not. dear derek is one of many wretched, undermotivated, overassuming
leeches in our country, and in this world. one of those who would prefer to be
unemployed and wax lyrical about how his myriad talents are being abandoned for
the foreigner’s, instead of earning a decent, stable living as a sales
assistant. it’s not even about being a road sweeper. these shitbags don’t want
anything without “manager” and a name card.please, get out of my elite uncaring
face.
I cannot comprehend why a simple procedural HR matter like procuring an employee ID is so difficult that it takes more than three working days to get it done. Meanwhile, the HR manager (no less) tells you that it’s out of their hands to control things like that. Hello? Someone needs to go for efficiency redefinition and prioritization intensive training.
Meanwhile, the IT people’s hands are tied because they require the employee ID before they can process the IT log-on ID. Talk about bureaucratic hell. If I had wanted this, I would be working in GIC thank you very much.
This is a HR manager working in a global MNC we are talking about. And given that finance industry generally pays generous salaries, I would gather that her salary is anything from 8K onwards.
My point is not that she should have micro-managed such small details. I am wondering whatever happened to the delegation flow? How on earth could she even have uttered the words, “It’s out of our hands“, when it’s clearly and irrefutably the responsibility and accountability of HR?
I will bet my last dollar that these are the people who get axed or retrenched when markets dip. And they will whine about how foreign talents have snitched their jobs and how the middle management always get the short end of the stick.
Wonder how the hell do they get to management in the first place.
When he gets you 
as a pressie when you are upset.
When he orders a limited edition fire-red Ipod Nano for you just because you mention that you are thinking of buying a MP3 player… Meanwhile he passes you HIS Ipod player loaded with over 1000 songs
When he passes you shopping vouchers to go shop just because
When he would call you during ungodly hours to tell you he misses you
When he makes you laugh so hard that you get stomach cramps
When he makes you feel so good about yourself that you seem on a constant high
When you almost always have the same thoughts and even the same words to describe stuff
When you just know.
