Tianmo Hypersonic November 6, 2014 Share November 6, 2014 (edited) 3 gone in 3 years.............I know finance ppl have code of conduct........ something missing with the book???............. SMRT CFO resigns after eight months, last day Nov 9 SMRT Corp's group chief financial officer, Sam Ong Eng Keang, has resigned after eight months on the job and his last day will be Nov 9. The transport operator said in a release on Tuesday that Mr Ong, who joined SMRT on March 1, 2014, is leaving to "pursue philanthropic interests and business prospects". Pending the appointment of a new CFO to replace Mr Ong, the responsibilities of the CFO will be covered by Cindy Lau, its vice-president of group finance & shared services. Some analysts were surprised by Mr Ong's rather short stay. He joined SMRT from Singapore-listed waste water management firm Hyflux, where he was group senior executive vice-president and deputy CEO. SMRT said its CFO provides the overall leadership to the finance function of the group. The CFO is also expected to play a key role in developing, monitoring and evaluating overall corporate strategy with the chief executive officer and leaders of business units with emphasis on bottomline performance, working capital and enhancing shareholder value. "This position provides useful financial insights to help make better decisions about formulating and executing strategy. Major responsibilities include corporate governance, accounting, treasury, investments and financial reporting,'' SMRT said. An analyst said while the sudden departure of the CFO would be taken as a red flag for most companies, "we believe this should be an exception due to SMRT's history of strong corporate governance and majority ownership by Temasek". Furthermore, SMRT had just reported a stellar set of Q2 2015 results indicating a strong earnings recovery on the back of higher fares, lower costs and operating efficiencies. Net profit spiked up 75.5 per cent to S$25.3 million for the second quarter ended Sept 30 on improved performance in its train and bus operations, as well as higher profitability from its taxi, rental and advertising businesses. Revenue was 6.0 per cent higher at S$314.0 million compared to the same period a year ago. Looking ahead, SMRT said the fare business environment will continue to be challenging owing to heightened operational demands on service and capacity. http://www.businesstimes.com.sg/companies-markets/smrt-cfo-resigns-after-eight-months-last-day-nov-9 Edited January 20, 2015 by pChou ↡ Advertisement 3 Link to post Share on other sites More sharing options...
Wyfitms Twincharged November 6, 2014 Share November 6, 2014 (edited) smrt man to get out before he gets implicated (after all, he has no invisible force field to protect him) Edited November 6, 2014 by Wyfitms 1 Link to post Share on other sites More sharing options...
Damienic 5th Gear November 6, 2014 Share November 6, 2014 I knew Sam Ong. Quite surprising he left Hyflux to join SMRT. He was the second in command after Olivia Lum at Hyflux then. 2 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic November 6, 2014 Share November 6, 2014 Thought SMRT just reported more profits ?! Must be the sheer pressure working in company, that want to earn every single cents available even though gonna spend a bomb maintaining the trains and tracks... Wish him good luck in finding new challenges.. hopefully not that stressing 1 Link to post Share on other sites More sharing options...
Myxilplix Turbocharged November 6, 2014 Share November 6, 2014 Maybe his conscience got the better of him. 3 Link to post Share on other sites More sharing options...
Kklim Supercharged November 6, 2014 Share November 6, 2014 Maybe he found SMRT overpaid for cable ties but nobody wants to investigate. 6 Link to post Share on other sites More sharing options...
Kyrios Turbocharged November 6, 2014 Share November 6, 2014 Maybe he found SMRT overpaid for cable ties but nobody wants to investigate. Wahaha..that's a good one Enron also reported swashbuckling profits at one time.. Maybe the CEO too military like liao? Every morning 5BX? 3 Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 6, 2014 Author Share November 6, 2014 Thought SMRT just reported more profits ?! Must be the sheer pressure working in company, that want to earn every single cents available even though gonna spend a bomb maintaining the trains and tracks... Wish him good luck in finding new challenges.. hopefully not that stressing the reporting of the profit mayb the reason he left hor.............and which top job not stressful .............. Link to post Share on other sites More sharing options...
Joseph22 Turbocharged November 6, 2014 Share November 6, 2014 the reporting of the profit mayb the reason he left hor.............and which top job not stressful .............. I heard Singtel year end report can takes days to complete. maybe same for SMRT?? for ppl working for commercial before and enter GLC, I think they cannot tahan the unproductiveness. On another note.. see where he go next... maybe he kenna shifted out and up to take over another place. Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 6, 2014 Author Share November 6, 2014 I heard Singtel year end report can takes days to complete. maybe same for SMRT?? for ppl working for commercial before and enter GLC, I think they cannot tahan the unproductiveness. On another note.. see where he go next... maybe he kenna shifted out and up to take over another place. which MNC year end report does not take days to compete.........some take weeks hor.........even SMEs take days to complete year end report leh...........month end report already takes afew days liao leh......... If he is shifted out...............there would be a replacement liao mah................but they looking for a replacement leh........ Link to post Share on other sites More sharing options...
Wt_know Supersonic November 6, 2014 Share November 6, 2014 (edited) could be high $$$ to poach him from Hyflux but he did not realise how deep is the "shit" he got into ... this sounds like kena "sacked" - "pursue philanthropic interests and business prospects" how much is the golden handshake? if few millions ... beh pai for 8 months of job I knew Sam Ong. Quite surprising he left Hyflux to join SMRT. He was the second in command after Olivia Lum at Hyflux then. Edited November 6, 2014 by Wt_know 1 Link to post Share on other sites More sharing options...
Joseph22 Turbocharged November 6, 2014 Share November 6, 2014 which MNC year end report does not take days to compete.........some take weeks hor.........even SMEs take days to complete year end report leh...........month end report already takes afew days liao leh......... If he is shifted out...............there would be a replacement liao mah................but they looking for a replacement leh........ I mean the meeting lah. Link to post Share on other sites More sharing options...
Lala81 Hypersonic November 6, 2014 Share November 6, 2014 Wahaha..that's a good one Enron also reported swashbuckling profits at one time.. Maybe the CEO too military like liao? Every morning 5BX? HAHAHAHA Link to post Share on other sites More sharing options...
Forte3737 5th Gear November 6, 2014 Share November 6, 2014 Seems like bad decision to left the water company I knew Sam Ong. Quite surprising he left Hyflux to join SMRT. He was the second in command after Olivia Lum at Hyflux then. 1 Link to post Share on other sites More sharing options...
Janling3 6th Gear November 6, 2014 Share November 6, 2014 Seems like bad decision to left the water company we r never clear until we r actually working in the company...... that's always the case.... ... but at least he could have done his sum on all the calculated career risk on top of the remuneration as a package back then....just move on.... Link to post Share on other sites More sharing options...
Janling3 6th Gear November 6, 2014 Share November 6, 2014 could be high $$$ to poach him from Hyflux but he did not realise how deep is the "shit" he got into ... this sounds like kena "sacked" - "pursue philanthropic interests and business prospects" how much is the golden handshake? if few millions ... beh pai for 8 months of job that's what we term as career development challenge, ..... of course we move on to a perceived "greener pasture" as a new page of career journey.... once u r in the "greener pasture", the so called "greener" may not be as green as u may have thought,,, a lot of undesirable, unknown factor come into play.... until such time that u think u can't manage it or live with it,,, then it's time to go again.... Link to post Share on other sites More sharing options...
Xers007 Supercharged November 6, 2014 Share November 6, 2014 damn it... i still have some SMRT shares.... Link to post Share on other sites More sharing options...
Forte3737 5th Gear November 6, 2014 Share November 6, 2014 to me, it looks like he was sacked ↡ Advertisement Link to post Share on other sites More sharing options...
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