Friday, December 29, 2017

SG: Lost more than US$ 422 million

Finally read this at Bloomberg. This thing must have been sanctioned at least at the highest level in Keppel i.e, its board and likely beyond to Temasek Holdings isn't it? In most places it would have stopped at the board because you can't go higher but here in SG for the stakes involved, the risk to Singapore's reputation and being mostly owned by Temasek, I wouldn't be surprised Temasek's management also knew and decided to risk it.

Observing where this seems to be stopping, it is not going to go high enough. The lawyer who confessed and cooperated becomes the scapegoat and correctly decided to threw his lot with the prosecutors.

More important if the US did not have a law for going after such malfeasance Singapore Inc., would not also have been caught. Shame on us.

Sometimes I wonder if this country has not already began to rot at its core because it is beginning to at the head. The legal side of things may be complete and costing S422 million but the moral debt which is necessary to prevent this from repeating has not begun and may never. So the lesson seems to me is to come up with better ways not to get caught the next time.

What is Singapore's core value and god: MONEY.

The quality of leadership in Singapore continue to worsen.

See also: More credible responses needed from S’pore firms accused of bribery abroad

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