Chitchat Black-eye for Temasek or a cover-up for Temasek ?

[nayr69sg]

Sinkies don't bother with this type of thing. All they care about is how much money can they get?

 

[Bonut]

Sinkies don't bother with this type of thing. All they care about is how much money can they get?

Sinkies bother about sinkies, regardless of where they are. It's in the DNA.

 

[numero uno]

Sinkies don't bother with this type of thing. All they care about is how much money can they get?

yeap well said but end of the day they are real stupid people. End of the day this case just goes to show how stupid the top management can be.
20 billion in gross contract/sales over 10+ years means 20 billions gross income. Minus taxes costs labour materials etc nett profits maybe as low as 1 billion or maybe even 500m or even less even less.
Now with this estimated US$500+++ millions loss ( if you include lawyers fees, reuptation, etc etc on top of fines) it means all the profits and face over past 10+ years have been wipe out. Also it beggars the questions why the secrecy?
full of shit these people. It is t so simple from reading the report. Sounds like a con job by the Brazilians and brazil garmen side and these stupid dummies got taken to the cleaners. just show how inexperienced these sinkies are. where are all the boasts about being top oil rig and shipbuilder being trumpeted by the press past few years??
The back stabber (the lawyers and brazilians ironically employed by these idiots definitely got a huge reward)
This type of corruption/ counter corruption maneuvers/ fines/ squealing and backstabbing is very common amongst south America and Africa businessmen.
End of the day petrobras and the Brazilian government are laughing to the bank. Got corruption money and fines rewards, totalling >$600m in my estimate without doing anything at all. and they end up smelling like a rose when those idiots who boast of one of the least corrupt company ended up with shit on their face,.
Really stupid people in sembcorp and parent companies. Tax payers are footing the bill for their idiocy

numero

 

[nayr69sg]

Sinkies don't care. PAP is still corruption free best govt.

Talk to sinkies. You will know they don't know and don't care

 

[chonburifc]

yeap well said but end of the day they are real stupid people. End of the day this case just goes to show how stupid the top management can be.
20 billion in gross contract/sales over 10+ years means 20 billions gross income. Minus taxes costs labour materials etc nett profits maybe as low as 1 billion or maybe even 500m or even less even less.
Now with this estimated US$500+++ millions loss ( if you include lawyers fees, reuptation, etc etc on top of fines) it means all the profits and face over past 10+ years have been wipe out. Also it beggars the questions why the secrecy?
full of shit these people. It is t so simple from reading the report. Sounds like a con job by the Brazilians and brazil garmen side and these stupid dummies got taken to the cleaners. just show how inexperienced these sinkies are. where are all the boasts about being top oil rig and shipbuilder being trumpeted by the press past few years??
The back stabber (the lawyers and brazilians ironically employed by these idiots definitely got a huge reward)
This type of corruption/ counter corruption maneuvers/ fines/ squealing and backstabbing is very common amongst south America and Africa businessmen.
End of the day petrobras and the Brazilian government are laughing to the bank. Got corruption money and fines rewards, totalling >$600m in my estimate without doing anything at all. and they end up smelling like a rose when those idiots who boast of one of the least corrupt company ended up with shit on their face,.
Really stupid people in sembcorp and parent companies. Tax payers are footing the bill for their idiocy

numero

Correct. Ship building and rig building are very dirty business. The successful ones in this business are the professional crooks. Your regular scholar type management people in Keppel or Semb or ST marine cannot handle these professional crooks lor.

Take a big crook to deal with these crooks. The brazilian crooks thank sinkie peasants for such a generous new year present.

 

[Charlie99]

There are former PAP ministers and MPs sitting on Keppel's board of management to ensure that Keppel plays by PAP's no-corruption rules. This was a one-off case by errant managers acting beyond their authority. Checks and balances have been strengthened to ensure this kind of slip up doesn't happen again. There's no culture of corruption at Keppel.

How do you know?

 

[Charlie99]

Here is the reason why no one is being prosecuted in Singapore. Se para 5.

Here is the list of Keppel Senior Management staff that authorised millions of dollars in bribes thru their US agent.

In order of rank
1.Choo Chiau Beng - former CEO of Keppel Corp (note main holding company and the senior most staff and board member) retired. Also former non-resident Ambassador to Brazil. Also grassroots leader.
2. Tong Chong Heong - former no. 2 of Keppel Corp and CEO of O&M and board member - asked to retire in 2014 when first wind of bribery problem began
3. Chow Yew Yuen - former recent CEO of Keppel O&M
4.Tay Kim Hock - former CEO of Keppel Brazil
5. Kwok Kai Choong - former CEO of Keppel FELS Brazil

4 other senior mgmt staff below Chow in Keppel O&M including CFO, Director Legal, and 2 MDs were asked to go. In effect, the first 4 in the rank were implicated.

It should be noted that all 9 were actively participated in the bribe and it is not a case of they being negligent in letting the bribes go thru.What is sad is that Choo Chiau Beng was no.1 in all of Keppel Corp. As the bribes began long time ago, it implicates at least 1 former cabinet minister who had executive function and numerous other senior management staff. Thus the reason for not prosecuting in Singapore.

Wannabe PM Ong Ye Kung was Head of Strategy & Development for Keppel Corp when the scandal hit the Corp. He if you recall jumped from NTUC to Keppel when he could not control his assigned Bus Drivers Union which led to the strike while he was serving his notice period. He again quit when the shit hit the fan in Keppel.

And there is a possibility that the senior members of the PAP, may choose OYK, to be the next PM, or a senior cabinet Minister.
In some other prior posts, without any concrete evidence then, I have indicated that I do not trust that gentleman.

 

[shittypore]

Sinkies don't care. PAP is still corruption free best govt.

Talk to sinkies. You will know they don't know and don't care

You say more, they will ask you how you noe, Haha!!!!

 

[Charlie99]

Sinkies don't care. PAP is still corruption free best govt.

Talk to sinkies. You will know they don't know and don't care

The PAP, the SG government, the senior civil servants, and the GLC's are white, and corruption free,
because the PAP believes that paying one of the highest annual compensation and bonuses
is necessary to deter corruption.

 

[nayr69sg]

The PAP, the SG government, the senior civil servants, and the GLC's are white, and corruption free,
because the PAP believes that paying one of the highest annual compensation and bonuses
is necessary to deter corruption.

It is like saying that by giving drug addicts the largest supply of drugs any addict can have will make no one know that they are drug addicts.

Giving corrupt people money in the open.....lol!

 

[Charlie99]

It is like saying that by giving drug addicts the largest supply of drugs any addict can have will make no one know that they are drug addicts.

Giving corrupt people money in the open.....lol!

It is not my philosophy, but the PAP's principle of paying the highest compensation to the politicians, civil servants, judiciary, to deter corruption.

 

[scroobal]

25% of the penalty is transferred back to the Singapore treasury by the US Govt. Singapore govt thru Temasek owns only 20% of Keppel with the rest owned by shareholders.

So Singapore Govt that came out good while the Shareholders lost. So not only they kept the profits from all these years but they got $106US M to compensate from drop in share price and future dividends to cover the loss.

Singaporeans are the end losers.

yeap well said but end of the day they are real stupid people. End of the day this case just goes to show how stupid the top management can be.
20 billion in gross contract/sales over 10+ years means 20 billions gross income. Minus taxes costs labour materials etc nett profits maybe as low as 1 billion or maybe even 500m or even less even less.
Now with this estimated US$500+++ millions loss ( if you include lawyers fees, reuptation, etc etc on top of fines) it means all the profits and face over past 10+ years have been wipe out. Also it beggars the questions why the secrecy?
full of shit these people. It is t so simple from reading the report. Sounds like a con job by the Brazilians and brazil garmen side and these stupid dummies got taken to the cleaners. just show how inexperienced these sinkies are. where are all the boasts about being top oil rig and shipbuilder being trumpeted by the press past few years??
The back stabber (the lawyers and brazilians ironically employed by these idiots definitely got a huge reward)
This type of corruption/ counter corruption maneuvers/ fines/ squealing and backstabbing is very common amongst south America and Africa businessmen.
End of the day petrobras and the Brazilian government are laughing to the bank. Got corruption money and fines rewards, totalling >$600m in my estimate without doing anything at all. and they end up smelling like a rose when those idiots who boast of one of the least corrupt company ended up with shit on their face,.
Really stupid people in sembcorp and parent companies. Tax payers are footing the bill for their idiocy

numero

 

[nayr69sg]

It is not my philosophy, but the PAP's principle of paying the highest compensation to the politicians, civil servants, judiciary, to deter corruption.

Yes I am criticizing PAP not you

 

[nayr69sg]

But sinkies vote PAP every GE and sing praises of their govt.

So serves them right they are end losers. They are losers to begin with

 

[rambo22]

Thus far in recent years 3 GLCs, under Aunty Ho's Temasek have had Sr Mgmt and even Audit Board Members embroiled in corruption - SembCorp Marine, ST Marine and Keppel.

who is Aunty Ho ah ?

is she the Head of TH or PM Personal Asst ?

whenever PM ghost overseas, chances you will see her also

 

[shittypore]

Aunty Ho owner of this play ground while Ah Loong controls all tos wanting to play in this play ground, formidable huh!