Friday, December 23, 2005

there's something about ..... charging Durai

Read with interest on the NKF saga. So much info overload, it's getting quite repetitive.

But will Durai be charged?
  • Backdating his pay? ...... No.
  • Backdating his annual leave and cash them out ..... No.
  • Increase salary of his staff a few times a year ..... No.
  • Surpassing the 30% mark of expenditure for fund raising events .... No.
  • Fly First Class even if it is donor's fund ...... No.
  • Buy many air tickets but never use them ..... No.
  • Buy medicine but earn a profit by charging patients higher ..... No.
  • Only 10 cent of every dollar spend on patient ..... No.
  • Buying Gold taps ..... No.
  • Spending 30k a month on credit card .... No.
  • Misleading information...... No.

All the above are just corporate governance goes haywire, so what if they are a charity entity.

If your board approved your salary.... what can you do. If the CEO approve pay increment, it is his right to do so. He is the CEO afterall.

He can spend all the money he wants but he also ensure the "company" is not in the red. He didn't borrow money to spend. He spend on "profits". What's wrong with that.

Charging patients at a profit but patients still pay lower than elsewhere, what's wrong with that.

Ok.. surpass the 30% mark for expenditure.... sorry... wrong judgement... what you want me to do now... I already spend them. Go ask Mediacorps to return you the money, ask SPH to return you the money.

10 cent out of every dollar spent on patient. But nobody complain before.

Misleading information. It's a different perspective.

My point is, these are just problems associated with corporate governance and it is not a criminal offence nor a white collar crime.

Any problem with whatever happen only means NKF will face penalties or fine. But not Durai, even if he is the CEO.

What I'm hoping to happen is this.

Money that goes into those 2 companies that failed to deliver, indirectly goes back to Durai.

THAT would be white collar crime.

That would be fine and perhaps jail. And fine will not be small. Whatever the amount fine.... hopefully the government will return back to NKF.

Jail term... I don't think so even if it is what everyone wanted. But he is finished in Singapore. His only option is back in INDIA. So the best way is to fine him hard hard, so even if he leaves Singapore, at least Singapore can retrieve whatever amount belonging to Singaporean's patients and not be siphorned into India.

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