SMRT do not just need top level management changes. I think it has to replace its board and CEO too. Fortunately LG Kuek wasn't leading any real life ops when he was in the SAF. He doesn't even have the cow sense to rush back to Singapore when the drivers went on strike. I understand that family problems prevented him from returning speedily. If so, the board had chosen the wrong man for the job. And the MOT had been living with the wrong board. Looks like Lui Tuck Yew is no better than Raymond Lim. If the PM doesn't act, he can forget about my vote for the PAP. If this government is so insensitive over a basic issue like this, it would do equal evil elsewhere. It's only a matter of time.
Update: 8:20 pm
Went to see what's added to Dr Tan post and found this which I think is pertinent.
- Michael Ong Dr Tan Cheng Bock, I read in the SMRT announcement that the RFQ was called on 2 Mar 2012. This was long before the change of leadership at SMRT. This may have been missed out by the Straits Times and other print media. [http://www.smrt.com.sg/Portals/0/PDFs/Doing%20Business/Investor%20Relations/sportshub.pdf]
Perhaps, we should all give the new chief at SMRT some time to put the "deep seated" problems right. I know LG Desmond Kuekpersonally. I have confidence that he will do a good job at SMRT. Many people who have worked with him will also share the same views about him.
According to CNA Saw Phaik Hwa resigned in January 2012. The woman was to SMRT what Mark Hurd was to HP. Like HP, SMRT board had been deficient for a long time.
Let us not jump to wrong conclusion without the relevant facts.
ReplyDeleteMy suspicion is that lady with retail fingers was responsible for the bid.
One should read the fine print in the bidding document re: late withdrawal, penalities, etc., etc.,for not accepting award bidded for...
Think before we start yelling. Think carefully and with due consideration not to hurt anyone not involved in the exercise.
A Joyous Christmas and Happy New Year to PengYou and Family.
@Low, ..... and your suspicion is based on what ? The lady resigned in Jan, and let me remind you that it's Christmas time.
ReplyDeleteWhether or not the bid was pre or post new CEO's time, the fact remains that such a massive investment in a non-core business was approved by the Board. Its just like, you know, how HP invested in companies by paying massive premiums and all those investments were approved by the Board. The entire board should resign and be held accountable. Especially if the directors hold an average of over 20 directorships in other companies.
ReplyDeleteIf SMRT finds the transportation business not worthy of its share of investment of $1.1bn and instead, finds it more meaningful to divert capital to retail business, can someone explain to me again why we're privatising SMRT?
JG
ReplyDeleteIf SMRT withdraws, there would be severe penalties as all Govt tenders covers the Govt 110%.
It will still be a case of damned if done, and damned if not done.
At the least, if run well, there will be additional profits to be distributed as we are still a capitalist society.
i am not writing with regards to this smrt issue. i am writing here, of other issues which i had in mind, because i couldn't find a place for me to post my issues in Dr Tan's facebook.
ReplyDeletei am a mentally ill and a divorced and over 35 years old lady. i had schizophrenia past two years plus ago. because of my illness, i can't perform well in my work n was asked to leave my job. according to imh jobclub, they can find me a less stressful job where employers are more willing to accept mentally ill people, but the pay will be around $1100 to $1200,which i find it too little,because other than using my salary for my daily expenses, i still have to give my mum allowance as she is already 68 and also i have to help my brother in his PUb bills and for my own medical bills! from here, i conclude that the society is not totally accepting mentally ill people into their worklife and the hospitals are not giving enough subsidy for mentally ill people! also, i am saving up to buy a hdb flat but with the amount of salary that i get, i have problem saving up each month for the cash that is required to pay a resale hdb flat! sometime in this March, i read about the news regarding the BTO hdb policy that there will be flats set aside for divorcees so that the divorcees can start their life afresh, without being bogged by the heavy cash to pay for resale flats! on the other hand, i am nit sure if the new BTO policy will really help divorcees, because like me, i have sold my first hdb flat during my divorce, and if i were to buy anothet flat directly from hdb, i have to fork out the 10 or 20% levy in cash, which is quite a substantial amount! so, my new life after my divorce and from the moment i had my mental illness became a mess! i had no directions to make any plans, because of the money issue that i am facing! i hope someone who read my issues, can propose some good solutions. probably many other mentally ill or mentally normal people are facing same kind of issues as mine.
Since I am blogging for myself and family, I almost never respond to comments here unless it is a request for help. I don't know how I can help you but I know many of us are familiar with such stories, i.e. your plight is not hidden. Our system have big holes you can drive trucks through. Each of us given where we are placed must make a contribution to make this a better place. Regarding schizophrenia I have been helping someone afflicted with it over the last few years. I pray you will also have at least someone lending his or her hand to you.
Delete