atans1

Exports slump in Asean: Will affect S’pore

In Economy, Indonesia, Malaysia, Property on 01/08/2015 at 4:47 am

http://im.ft-static.com/content/images/c38feea2-3207-11e5-8873-775ba7c2ea3d.img

For starters, a lot less tourists from Indonesia. And upper end properties will continue to be in dolddrums.

HSBC and karma

In Banks, China on 31/07/2015 at 12:51 pm
When I read in FT “Corporate giants sound profits alarm over China slowdown”, I tot of Gulliver’s plans to expand in the Canton region  https://atans1.wordpress.com/2015/06/11/hsbc-desperately-seeking-home-grown-john-cryan/

HSBC needs a new CEO.

But maybe after that glorious era of three great executive chairmen Sandberg, Purvis and Bond, we got to go thru Greens and Gulliver. That gut in between  the two G’s wasn’t too bad.

Which reminded me of this from NYT’s Dealbook:

WHY BARCLAYS C.E.O. WAS OUSTED In his three years as chief executive of Barclays, Antony Jenkins worked to change the bank’s culture to make it more risk-averse and to improve the bank’s capital, but that wasn’t enough for the bank’s directors, Chad Bray writes in DealBook. John McFarlane, the Barclays chairman, noted on Wednesday that the stock price was still around the same level it was six years ago and that the company’s dividend remained flat. Management’s plans to reward shareholders were “too far out in the future,” he said. Mr. Jenkins also differed with Thomas King, the head of the investment banking business, over the unit’s strategic direction, people with knowledge of the discussions told Mr. Bray.

 

The state of the Oppo parties

In Political governance on 31/07/2015 at 5:18 am

It’s a good, short and sharp analysis by a TRE reader, who is definitely not a cybernut.

“Firstly, not all opposition parties have the same status”, says Harold who I quoted yesterday on the SPP and Mrs Chiam. As promised here are his tots on the other parties. Headings and non -Italic font are mine.

WP

The strongest opposition party at the moment is the WP which has 7 parliamentary seats and 2 non-constituency members of parliament. The WP is stable, has good leadership, party discipline, a strong brand name, strong grassroots network and has managed to attract a critical mass of skilled professionals. These factors explain why the WP has a better image and thus a better chance of winning than the other opposition parties. As was seen in the Punggol East by-election, in a multi-cornered fight, the WP candidate will attract a much larger share of votes than the minor opposition parties.

All this is spot-on. The problem is that the MPs never slapped the driver (in fact they kanna slap by he PAP)  and their accounting, corporate governance management skills suck. It still irritates me that three hotshot lawyers (one of whom was a partner in a leading US firm albeit in its Beijing office, not in NY or London) didn’t see the dangers in the way the town council dealt with the managing agent*. Even more irritating is that Auntie and her Singh (lawyers both) didn’t ensure that the managing agent kept proper records**.

All these hotshot lawyers are actually lawyers buruk.

Seriously, can anyone credibility offer to be a accountability watch dog when they can’t keep proper records. Remember no proper records cannot detect irregularities easily.

Related post: https://atans1.wordpress.com/2015/02/10/conflicts-of-interest-what-conflicts/

But voters decide and “liberated” zone is pretty much to PAP standards overall: https://atans1.wordpress.com/2014/11/11/pap-administration-scores-own-goal/

The PAP has always asked to be judged in the context of eveything it has done, so should the WP.

SDP

Next in the ranking of the opposition parties, is the SDP. Why? Because this is a party with a history, alternative policies and a clear ideology. SDP’s grassroots potential is underused but not lacking, as it seems to be able to attract social activists and other liberals. Say what you may about the SDP but at least it does not give the image that it is an unstable party that lacks people. The party website is well designed and is kept up to date. SDP’s decision to pull out of the Punggol by-election and avoid being a spoiler earned it goodwill from opposition supporters and thus the SDP’s image was not tarnished by a great defeat. The SDP may have committed some blunders such as implying that they were unwilling to run a town council, but they have corrected that mistake! They realized that they have to turn their attention to municipal matters too. And thus, earlier this year, they published a paper detailing their plans on running a town council. The SDP is not perfect, but if your constituency is not contested by WP, it’s your best bet if you want an opposition win.

Again, I agreem almost. If only Dr Chee would retire: https://atans1.wordpress.com/2015/07/25/wazs-needed-to-defeat-the-pap-why/

Related post: https://atans1.wordpress.com/2015/07/16/goodies-price-hikes-its-a-package-what-voters-really-want-smrt/

Others

All the other opposition parties are not main contenders. NSP received a lot of bad publicity after GE2011 because they went through a change of 5 secretary generals in such a short time and furthermore lost almost all their top candidates in the last GE to other political parties. Singfirst and PPP are new parties with no history and swing voters usually stick to established parties when they vote. RP and SDA have been discredited by their secretary generals losing their deposits in the Punggol by-election. These parties will be entering the upcoming GE with voters perceiving them to have a low chance of winning. They have a lot of hard work ahead of them. It will be an uphill task for them to win a seat in parliament.

Agree.

SingFirst needs another 10 years of work before it becomes credible. Do the present leaders (Dr Ang and TJS are contemporaries of mine at RI: I was in Arts they were in the scholarship class) have the stamina to slog for another five years and then pass on the baton to a younger generation of leaders?

Related post: https://atans1.wordpress.com/2015/06/19/spending-more-on-poor-middle-class-not-juz-cause-ge-coming/

A dream oppo party would we SDP and SingFirst with Dr Chee and his team of loonies moving on out gracefully and TJS suppressing his ego. Fat hope. Pigs will fly first.

—————-

*I’m assuming that they didn’t raise corporate governance and PR concerns because they were happy with the arrangements. If they did, but were overruled and they kept silent, that raises another can of worms.

**They are the two MPs running the operations of the town council and I’m assuming that they didn’t raise the accounting, record keeping issues of the managing agent because they were clueless: remember that they are lawyers, not accoutants***. If they did, but were overruled and they kept silent, that raises another can of worms.

***Not that many lawyers know the basics of accounting.

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