I think his Peanut laopeh also cannot pay this $$$

[Nice-Gook]

perhaps the instate for his directorial presence in the organization guarantees the company for the forecast of 156m profits from operations-with-supports. and the supports include gahmen agencies, bank nominees and credits . . . . regardless if goh junior fits the job role or not!

and of coz, when all such "promises" din worked out and new proposal shackled, this goh continued to wrack benefits/purks for himselfs in millions$ of remunerations + middle-man fees but w/o concrete deals! thus, the legal actions against him surfaced when the obvious i.e. laopeh no longer reigns as country pm or cronyistic effects failed terribly

Pardon me , but company’s law and legality don’t work that way ...it’s either written in black and white or nothing ..take for example , @ A Singaporean , a jiu Hu kia ,Kleptocracy in the matter of 1MDB where billions and billions were swindled , mere $ 2 companies were created under the Finance ministry ...and just because these companies were owned by Malaysian Finance ministry and that directors were naturally malusial ministers , Banks did not assume their loans are backed by Malaysian government ,they still demanded a Sovereign guarantee ...simply put the Malaysian government itself have given guaranteed to loaning banks in black and white written and sealed

if that happens to a government who the fuck is this Dr to the banks ?

 

[parrardee]

Why is a Jiu Hu Kia like yourself interfering in Sinkieland politics ? As if you Malusials are any better ? The greatest kleptocracy on earth occured in your motherland , pulled off by a fat Cheenagui with a m&d as your PM

now to your fettish screwing rotting grandma in graves , any luck lately ?

Applaud applaud, a deserved direct hit on that dirty skunk.

 

[Nice-Gook]

Applaud applaud, a deserved direct hit on that dirty skunk.

He took me on without knowing who I was , in the olden days of USENET I had engaged professors of repute in Ivy Leaque, though I am not my old self and now very rusty the fire still burns

he or rather she gonna regret it

 

[KuanTi01]

Can you please fill me more about this case ...Anyway , there is no such thing as de facto personal guarantee , personal guarantee are either signed and sealed or nothing and directors of public listed companies are never known to give personal guarantee or Ho Ching would have been bankrupted long ago ...or the company concept of limited by liability will cease to exist , the whole principle of a business of LTD company is to shield directors and shareholders from more than the money they had invested in such companies and loans are extended by banks mainly on a company’s Heath reflected in their Balance Sheet and Profit and Loss account , personal guarantees are an additional precaution taken by banks and in many public limited directors are a professional appointment and they do not benefit directly from the performance of such companies so it would be ridiculous for such directors to give a personal guarantee to banks

I second that!

 

[congo9]

Just pay a few million suah suah tiao

 

[mojito]

Can you please fill me more about this case ...Anyway , there is no such thing as de facto personal guarantee , personal guarantee are either signed and sealed or nothing and directors of public listed companies are never known to give personal guarantee or Ho Ching would have been bankrupted long ago ...or the company concept of limited by liability will cease to exist , the whole principle of a business of LTD company is to shield directors and shareholders from more than the money they had invested in such companies and loans are extended by banks mainly on a company’s Heath reflected in their Balance Sheet and Profit and Loss account , personal guarantees are an additional precaution taken by banks and in many public limited directors are a professional appointment and they do not benefit directly from the performance of such companies so it would be ridiculous for such directors to give a personal guarantee to banks

Haha... We ignore the poor and rude peasants here and focus on the issue.

It depends on nature of company mah. What was the company in practice? A de facto group trading account. Cannot be profits you keep losses bank take am I right? The promise of more cash on value shortfall is heavily implied. Things go belly up the richest director will be the target debtor. Limited liability structure also cannot grant immunity from creditor claims. Matter for debate now is quantum not culpability.

 

[Nice-Gook]

Haha... We ignore the poor and rude peasants here and focus on the issue.

It depends on nature of company mah. What was the company in practice? A de facto group trading account. Cannot be profits you keep losses bank take am I right? The promise of more cash on value shortfall is heavily implied. Things go belly up the richest director will be the target debtor. Limited liability structure also cannot grant immunity from creditor claims. Matter for debate now is quantum not culpability.

Catch no ball lah , bro ...I cannot fathom what indeed you thus speak lah , no offence meant

you are right that limited structure not necessarily provide immunity , yes for criminal cases and certainly no for civil cases ...the very reason I asked in my very first post , what the hell is this case about ?

 

[a_korusawa]

Pardon me , but company’s law and legality don’t work that way ...it’s either written in black and white or nothing ..take for example , @ A Singaporean , a jiu Hu kia ,Kleptocracy in the matter of 1MDB where billions and billions were swindled , mere $ 2 companies were created under the Finance ministry ...and just because these companies were owned by Malaysian Finance ministry and that directors were naturally malusial ministers , Banks did not assume their loans are backed by Malaysian government ,they still demanded a Sovereign guarantee ...simply put the Malaysian government itself have given guaranteed to loaning banks in black and white written and sealed

if that happens to a government who the fuck is this Dr to the banks ?

I beg to differ . . . . if ever sitting in the board of directory, or in the C suite etc. . . . there's never blacknwhite on what and why they are paid this much into the company "with the banks"... likewise I mentioned as " operations-with-supports. and the supports include gahmen agencies, bank nominees and credits . . . ."

banks is just one components to many more than "operations-with-support".....

in C-suite, CFOs can earn more than CEOs or Chairman if he/she whom safekeeps the company finance that can churn out profits and operational earnings more than company does, such as orchestrating takeovers, banks or funds backups in acquisitions or even manage competition redundancy thru' fundings etc.

so perhaps this goh junior c/w all these lobangs but to found later its all BS . . . .

 

[Nice-Gook]

I beg to differ . . . . if ever sitting in the board of directory, or in the C suite etc. . . . there's never blacknwhite on what and why they are paid this much into the company "with the banks"... likewise I mentioned as " operations-with-supports. and the supports include gahmen agencies, bank nominees and credits . . . ."

banks is just one components to many more than "operations-with-support".....

in C-suite, CFOs can earn more than CEOs or Chairman if he/she whom safekeeps the company finance that can churn out profits and operational earnings more than company does, such as orchestrating takeovers, banks or funds backups in acquisitions or even manage competition redundancy thru' fundings etc.

so perhaps this goh junior c/w all these lobangs but to found later its all BS . . . .

Catch no balls lah , friend ...I really donch understand lah

are you talking about backroom personality operating a company without holding any directorship ? Yes than such person by law becomes responsible for the company losses but that would come under criminal penal code not civil

are you than talking about high political or civil office holders becoming directors or so appointed just to carry some clout with government agencies or banks or even foreign investors ? They are dime a dozen , in fact this is practiced almost all around the world ..say Clinton sitting on the board of directors in a company dealing with China or even LKY was sitting as a board of director in some American Bank ,... companies love to have such people to carry some clout but that ain’t criminal either

Unless or otherwise such directors got involved in CBT

 

[mojito]

Catch no ball lah , bro ...I cannot fathom what indeed you thus speak lah , no offence meant

you are right that limited structure not necessarily provide immunity , yes for criminal cases and certainly no for civil cases ...the very reason I asked in my very first post , what the hell is this case about ?

Every one knows only what Loong wants matters in the PAP. If PAP go kaput tomr SG no more who you blame Loong or lao goh?

 

[Hypocrite-The]

Goh Jin Hian resigns as Cordlife Group chairman, but remains to be independent director - The Online Citizen

Dr Goh Jin Hian has resigned from his position as chairman of Cordlife Group, the company announced in a filing with the Singapore Exchange on Monday (5 Oct).
This came after it was reported that Dr Goh, the son of former Prime Minister Goh Chok Tong, has been sued by the judicial managers of Inter-Pacific Petroleum (IPP) for over US$156 million (S$212.6 million) in losses.
The former director of IPP was accused of breaching his director’s duties “to act with skill, care and diligence” following the suspension of IPP’s bunker craft operator license in June 2019.
In court documents seen by ST, the suit seeks to recover about US$156 million with interest from Dr Goh for drawdowns of trade financing between June and July 2019 that the banks alleged were “non-existent of sham transactions”.
Following that, Cordlife announced yesterday that Dr Goh has stepped down from his position as its chairman, and it has appointed vice-chairman Ho Choon Hou as acting chairman with immediate effect.
“In view of the above, in order to devote more time to his personal affairs, Dr Goh will be stepping down as chairman of the board with immediate effect, but will continue to serve as ID [independent director] of the company,” it said.
Cordlife noted that its nominating committee (NC) and board had “just been made aware” of the suit made against Dr Goh, as reported by The Straits Times.
However, Cordlife NC and board believe that he “has the character and integrity suitable to continue as ID of the company”.
“At this juncture, the cessation of Dr Goh’s role as chairman will allow Dr Goh to continue ensuring that sufficient time and attention is given to the affairs the company as ID,” it added.
Previously, New Silkroutes Group stated that Dr Goh is “assisting” the Commercial Affairs Department (CAD) with investigations into possible offence under the Securities and Futures Act.
The company said no charges have been made against any person at this time, adding that Dr Goh’s passport has been retained by the CAD.
Dr Goh had stepped down as the CEO of New Silkroutes Group last week, and became the non-executive chairman thereafter.
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[Nice-Gook]

Goh Jin Hian resigns as Cordlife Group chairman, but remains to be independent director - The Online Citizen

Dr Goh Jin Hian has resigned from his position as chairman of Cordlife Group, the company announced in a filing with the Singapore Exchange on Monday (5 Oct).
This came after it was reported that Dr Goh, the son of former Prime Minister Goh Chok Tong, has been sued by the judicial managers of Inter-Pacific Petroleum (IPP) for over US$156 million (S$212.6 million) in losses.
The former director of IPP was accused of breaching his director’s duties “to act with skill, care and diligence” following the suspension of IPP’s bunker craft operator license in June 2019.
In court documents seen by ST, the suit seeks to recover about US$156 million with interest from Dr Goh for drawdowns of trade financing between June and July 2019 that the banks alleged were “non-existent of sham transactions”.
Following that, Cordlife announced yesterday that Dr Goh has stepped down from his position as its chairman, and it has appointed vice-chairman Ho Choon Hou as acting chairman with immediate effect.
“In view of the above, in order to devote more time to his personal affairs, Dr Goh will be stepping down as chairman of the board with immediate effect, but will continue to serve as ID [independent director] of the company,” it said.
Cordlife noted that its nominating committee (NC) and board had “just been made aware” of the suit made against Dr Goh, as reported by The Straits Times.
However, Cordlife NC and board believe that he “has the character and integrity suitable to continue as ID of the company”.
“At this juncture, the cessation of Dr Goh’s role as chairman will allow Dr Goh to continue ensuring that sufficient time and attention is given to the affairs the company as ID,” it added.
Previously, New Silkroutes Group stated that Dr Goh is “assisting” the Commercial Affairs Department (CAD) with investigations into possible offence under the Securities and Futures Act.
The company said no charges have been made against any person at this time, adding that Dr Goh’s passport has been retained by the CAD.
Dr Goh had stepped down as the CEO of New Silkroutes Group last week, and became the non-executive chairman thereafter.
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Thanks for the article , the picture now is a little bit clearer

I speculate there are some element of criminality involved but the judicial managers are giving our Dr some leeway to escape otherwise a prison sentences

it’s like just a murder committed , but whether premeditated with intent or otherwise a manslaughter ...with murder there is no escape but death but with manslaughter not only you can escape the gallows but can get can get away with jail too

so , it seems the judicial managers have already made up their minds on the nature of the offence committed ..which is for being a stupid and not intentional , that’s huge help actually because than it become very very subjective and such case unless proved beyond reasonable doubt , the Dr will come out smiling

 

[Hypocrite-The]

Thanks for the article , the picture now is a little bit clearer

I speculate there are some element of criminality involved but the judicial managers are giving our Dr some leeway to escape otherwise a prison sentences

it’s like just a murder committed , but whether premeditated with intent or otherwise a manslaughter ...with murder there is no escape but death but with manslaughter not only you can escape the gallows but can get can get away with jail too

so , it seems the judicial managers have already made up their minds on the nature of the offence committed ..which is for being a stupid and not intentional , that’s huge help actually because than it become very very subjective and such case unless proved beyond reasonable doubt , the Dr will come out smiling

How come a medical Dr can be just appointed to a senior mgt position for a big company? Jobs for the boys?

 

[syed putra]

Goh Jin Hian resigns as Cordlife Group chairman, but remains to be independent director - The Online Citizen

Dr Goh Jin Hian has resigned from his position as chairman of Cordlife Group, the company announced in a filing with the Singapore Exchange on Monday (5 Oct).
This came after it was reported that Dr Goh, the son of former Prime Minister Goh Chok Tong, has been sued by the judicial managers of Inter-Pacific Petroleum (IPP) for over US$156 million (S$212.6 million) in losses.
The former director of IPP was accused of breaching his director’s duties “to act with skill, care and diligence” following the suspension of IPP’s bunker craft operator license in June 2019.
In court documents seen by ST, the suit seeks to recover about US$156 million with interest from Dr Goh for drawdowns of trade financing between June and July 2019 that the banks alleged were “non-existent of sham transactions”.
Following that, Cordlife announced yesterday that Dr Goh has stepped down from his position as its chairman, and it has appointed vice-chairman Ho Choon Hou as acting chairman with immediate effect.
“In view of the above, in order to devote more time to his personal affairs, Dr Goh will be stepping down as chairman of the board with immediate effect, but will continue to serve as ID [independent director] of the company,” it said.
Cordlife noted that its nominating committee (NC) and board had “just been made aware” of the suit made against Dr Goh, as reported by The Straits Times.
However, Cordlife NC and board believe that he “has the character and integrity suitable to continue as ID of the company”.
“At this juncture, the cessation of Dr Goh’s role as chairman will allow Dr Goh to continue ensuring that sufficient time and attention is given to the affairs the company as ID,” it added.
Previously, New Silkroutes Group stated that Dr Goh is “assisting” the Commercial Affairs Department (CAD) with investigations into possible offence under the Securities and Futures Act.
The company said no charges have been made against any person at this time, adding that Dr Goh’s passport has been retained by the CAD.
Dr Goh had stepped down as the CEO of New Silkroutes Group last week, and became the non-executive chairman thereafter.
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Sounds like hin leong.
All those bunker companies will be closing down one by one due to drastic drop in oil price caused by Saudi Prince " madness".

 

[Scrooball (clone)]

Time for the banks to try calling back the loans from the oil bunkers.

I can also officially write down my stock investment of that piece of turd Ezion Holdings. It’s worth less than a copy of Straits Times

 

[Hypocrite-The]

Sounds like hin leong.
All those bunker companies will be closing down one by one due to drastic drop in oil price caused by Saudi Prince " madness".

New bunkering will take over.
Singapore’s First LNG Bunkering Vessel Launched

LNG bunkering vessel launch - courtesy of FueLNG
Singapore’s first LNG bunkering vessel was launched at the Keppel Nantong Shipyard in China. The vessel is being built for FueLNG, a joint venture between Keppel Offshore & Marine and Shell Eastern.
The vessel joins the growing number of LNG bunkering vessels worldwide. In early 2019, there were only six bunkering vessels operational around the world. One year later, the number had doubled to 12 with nearly 30 additional LNG bunkering vessels under construction or on order to meet the growing worldwide demand for LNG as a maritime fuel.
Construction of Singapore’s 7,500m3 LNG bunkering vessel is progressing on schedule, with the vessel expected to be completed in the fourth quarter of 2020.
According to FueLNG, this will be the first LNG bunkering vessel to provide regular ship-to-ship LNG bunkering services within the Singapore port. Currently, FueLNG provides truck-to-ship bunkering operations, having completed over 200 refuelings for LNG-powered vessels.
“There are a growing number of LNG-fueled vessels in the world, and FueLNG is well-positioned to seize LNG bunkering opportunities in Singapore,” said Saunak Rai, General Manager of FueLNG. “Building Singapore’s first LNG bunkering vessel demonstrates FueLNG’s confidence in LNG as a marine fuel. The vessel will enhance our range of services and boost our efforts to further increase the availability of LNG in the market.”
The vessel, which can run on both LNG and marine diesel oil, is currently being built to the proprietary MTD 7500U LNG design developed by Keppel O&M’s technology arm, Keppel Marine and Deepwater Technology for cleaner and safer bunkering activities.
Key features of the vessel include high maneuverability, which will enable bunkering without tug assistance, compatibility with a wide range of vessels, as well as propulsion and power management systems that optimize fuel consumption. The vessel will have a filling rate range of up to 1000m3 of LNG per hour and will be able to supply LNG to various types of vessels at heights ranging from 3m to 23m above water level.
The Maritime and Port Authority of Singapore is undertaking a number of initiatives to increase the adoption of LNG as a marine fuel, facilitating the growth of Singapore as a global LNG bunkering hub. FueLNG says that its bunkering vessel will further enhance the LNG bunkering infrastructure in Singapore and support the growth of the industry.
The hope is that the expansion of Singapore’s LNG bunkering infrastructure will also create more opportunities in adjacent sectors in the region, including ship design, construction, operation and repair, as well as in LNG trading.
MORE TOP STORIES

 

[Nice-Gook]

How come a medical Dr can be just appointed to a senior mgt position for a big company? Jobs for the boys?

You certainly can and it’s happening around the world ...this was actually an examination question in the study of management as far as 40 years ago

the question is do you need to be an engineer to head an engineering company ? In the old school of thoughts yes ,but not in newer theories , for example you must have heard a CEO of an airline also head hunted for a shipping company , the reasoning is if you are a good manager material the product knowledge is secondary ...this is the same principle PAP applies by appointing our generals in the SAF to head private enterprises , but that is another story altogether

 

[Hypocrite-The]

Goh Chok Tong’s son’s firm backs him despite lawsuit
The nominating committee and the board said they continue in their support of Dr Goh, reiterating that his character and integrity remain suitable for a director of the company

Photo: FB screencapture
Author
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New Silkroutes Group (NSG), which ex-Prime Minister Goh Chok Tong’s son serves as chief executive and executive director, has stepped up to back the latter despite him being served with a lawsuit. The lawsuit is brought by Inter-Pacific Petroleum’s (IPP) judicial managers due to US$156 million (S$212.6 million) in losses stemming from an alleged breach of director’s duties.
On Tuesday (Oct 6), the Straits Times reported that the nominating committee and the board of New Silkroutes Group said that they are of the view that Dr Goh Jin Hian – who is the company’s non-independent non-executive chairman – is suitable to continue as director as the action is a civil suit against Dr Goh and, based on legal advice of his lawyers, the allegations are without merit.
Earlier on Monday, it was reported that Dr Goh was being sued by the judicial managers of IPP. The suit had been filed late in the evening of Friday (Oct 2) in the High Court by LVM Law Chambers, the legal representatives of Deloitte & Touche, IPP’s judicial managers.
Deloitte & Touche are seeking to recover the said amount, plus interest, alleging that the funds were used in “non-existent or sham transactions” made between June and July last year.
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Dr Goh said that he was “surprised that the judicial managers have commenced an action so unilaterally”, saying that he had not been asked by them for his full side of the story.
Dr Goh was a director of IPP from June 2011 to August 2019. IPP was placed under judicial management in September 2019.
“The board understands that Dr Goh’s lawyers, TSMP Law Corp, has exchanged correspondence with the judicial managers and detailed, with clear explanation, why there is no justifiable case against him,” said New Silkroutes according to the ST report.
“Dr Goh has been advised by his lawyers that the judicial managers’ allegations are without merit both on the facts and on the law,” it said.
“The board understands that Dr Goh has every confidence that he will be wholly vindicated when he defends himself in court,” it added.
As such, the nominating committee and the board, with Dr Goh abstaining, said they continue in their support of Dr Goh, reiterating that his character and integrity remain suitable for a director of the company.
According to Cordlife, its board and nominating committee had only recently heard of the lawsuit from Deloitte & Touche, adding that it believes Dr Goh “has the character and integrity suitable to continue as ID of the company” and that “given his qualifications, expertise and experience” it is in Cordlife’s best interests that he does so.
Last month, the judicial managers investigating IPP, a shuttered Singapore bunker supplier and bunker craft operator, submitted a filing to the High Court asking for more time to consider whether to take Dr Goh to court.
TISG reported on Sept 17 that IPP began to go under after the crew of a vessel chartered by the firm was charged over bunkering malpractices. The crew had tampered with a mass flowmeter, illegally using magnets to increase its readings to claim that it had delivered more fuel during bunkering operations than it was actually carrying.
IPP’s bunker craft operator licence was temporarily suspended by the Maritime and Port Authority (MPA) last June. Dr Goh, an IPP director at the time, called MPA’s move “premature” and stated that the authority should have “discussed the incident with us giving us a chance to review the facts”.
On Aug 16, IPP and its parent company Inter-Pacific Group Pte Ltd filed for judicial management at the High Court and appointed Deloitte & Touche LLP as their judicial managers. Dr Goh left IPP four days later, after having been at the firm since June 2011. /TISG

 

[SalahParking]

Fuck Lah...didn't I say Singapore bunkering is scam and easy money. It's common practice to mix bunker with shits oil, water and bunker, to make up the volume sold, incl tampering flow meters. Ship engines, esp those old duddy half sunking bulk carriers, can churn any shits and keep steaming. Directors knows this and kept quiet.

My friend was a sole proprietor of a bunker biz. he told me is easy cash and everybody does it. He always get his supply from Indonesian waters black ops, pay in rupiah and then resell in USD in singapore waters.

 

[Nice-Gook]

Fuck Lah...didn't I say Singapore bunkering is scam and easy money. It's common practice to mix bunker with shits oil, water and bunker, to make up the volume sold, incl tampering flow meters. Ship engines, esp those old duddy half sunking bulk carriers, can churn any shits and keep steaming. Directors knows this and kept quiet.

My friend was a sole proprietor of a bunker biz. he told me is easy cash and everybody does it. He always get his supply from Indonesian waters black ops, pay in rupiah and then resell in USD in singapore waters.

Yup , that’s true indeed