Sio ado
Sa begini karna cinta
Sio ado
Sa begini karna sayang
Tapi ko tra pernah mo mengerti
Ko anugrah terindah
Ko yang paling sa gemar
Penantian besar
Sa begini karna cinta
Sio ado
Sa begini karna sayang
Tapi ko tra pernah mo mengerti
Ko anugrah terindah
Ko yang paling sa gemar
Penantian besar
SIN CHEW had an article out on corporate governance, and like usual, Serba Dinamik was the introductory punching bag, stressing that the events at Serba Dinamik just goes to highlight on the need for independent directors.
YOU CAN READ THE ARTICLE BELOW. THOSE WHO ARE UNABLE TO READ IN CHINESE, PLEASE USE THE TRANSLATOR. MINUS SOME MINOR HITCHES, THE TRANSLATED VERSION IS ACCURTE.
READ ; THE SINCHEW ARTICLE.
Everything said in the SIN Chew article , I believe is difficulty to dispute, but sio ado sa begini kerna SAYANG, that SIN CHEW has missed the POINT by a WIDE margin.
YES, we need good independent directors but why is it we are often getting garbage instead. Well the reason is because, the people who control Malaysia's Audit Advisory Board, specifically the *SECURITIRES COMMISSION IS NOT MERELY SLEEPING ON THE JOB, IT IS NOT EVEN PRETENDING TO DO THE JOB.
The prove they say in in the pudding. So let us visit a company, which generally is acknowledged to have good
corporate governance. Let's check out GENTING Bhd's annual report and have a peek at their independent directors.
READ : GENTING Bhd 2020 annual report.
🟥 Foong Cheng Yuen (Malaysian, aged 75, male), appointed on 18 January 2016. Foong is not only an independent director, but also the Deputy Chairman of GENTING.
🟥 R. Thillainathan (Malaysian, aged 76, male),
appointed on 15 January 2003, was redesignated as anIndependent Non-Executive Director on 30 July 2009
🟥 Koid Swee Lian, (Malaysian, aged 63, female),
appointed on 23 November 2017, is an Independent Non Executive Director.
appointed on 23 November 2017, is an Independent Non Executive Director.
Genting by all means is a good company, but the SC should stop all this nonsense in allowing the same set of people to be appointed as independent director. One tends to lose ones independence, when one become too familiar with the owners.
At a smaller company, that does not attract the same flash lights GENTING obviously attracts, the SC in allowing independent directors too long a stay, is inviting disaster to strike.
Looking Back, I have SERIOUS DOUBTS that KPMG was ever independent in SERBA DINAMIK. For one, up to mid this year, an important director specifically in Serba Dinamik's Audit Board was one of KPMG's former top partner, who is also specifically mentioned in the Government's US4.5 billion suit against KPMG.
Where was the Minority Shareholders WatchDog Group (MSWG) when all of these were taking place. If years ago, if the MSWG had taken even an ounce of pride in its job, it would for RECORD sake atleast QUESTIONED KPMG, ARE YOU CAPABLE OF ACTING WITHOUT FEAR OR FAVOUR
MSWG is a Watchdog Group in NAME ONLY, is it?