Karoon Turbocharged November 6, 2014 Share November 6, 2014 i doubt so... that water company is drowning due to cancelled/lost projects in developing countries. Seems like bad decision to left the water company ↡ Advertisement 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. . . . or someone bought clocks and laptops at Malaysian civil servant prices: http://blog.limkitsiang.com/category/auditor-general-report/ Link to post Share on other sites More sharing options...
Damienic 5th 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 I would be surprised if SMRT can offer higher than what he got at Hyflux. I suspect there is a special reason of his departure from Hyflux too. He was a high flier at Hyflux and since becoming CFO at Hyflux, he was promoted twice in a 1 1/2 yrs to become Group EVP and Deputy CEO. Link to post Share on other sites More sharing options...
Philipkee Twincharged November 6, 2014 Share November 6, 2014 (edited) SMRT CFO resigns after eight months, last day Nov 9 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". I believe here the writer is hinting something is wrong with the finances? Or the way it is managed? After all, it is a red flag if the CFOs keep resigning. It is like something is wrong with the food or the kitchen if the chefs of a restaurant keep resigning quickly. The big boss might still stay on because he is not directly responsible (unless it is a very big lawsuit). Usually, the one directly responsible will face the consequences. It is true that people come and people go but people joining an appointment with responsibility as high as CFO do not resign so quickly. They would generally stay at least two years to build a resume and then move on tho a higher paying job. Unless you tell me he suddenly appear as a GE candidate or something. Or something happened in his life that made him rethink everything like a terminal illness, a sudden bout of YOLO....... 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. I thought we were still in 2014? Edited November 6, 2014 by Philipkee Link to post Share on other sites More sharing options...
Joseph22 Turbocharged November 6, 2014 Share November 6, 2014 I would be surprised if SMRT can offer higher than what he got at Hyflux. I suspect there is a special reason of his departure from Hyflux too. He was a high flier at Hyflux and since becoming CFO at Hyflux, he was promoted twice in a 1 1/2 yrs to become Group EVP and Deputy CEO. any chance he is doing rotation until the "real" Job they have for him is open up?? Link to post Share on other sites More sharing options...
Celicar Turbocharged November 6, 2014 Share November 6, 2014 TBF, some job even if the company is doing well and nothing bad is going on... people go in only will leave. cause too many sai kang to do.. and the sai kang not related to work somemore. That is in general and from my observation happens below the top management level. Coming back specifically to this situation (CFO at SMRT), the analyst is saying nothing to be alarmed about this sudden departure (despite the history of the SMRT CFO post) because (i) strong governance (ii) majority owned by Temasek. Honestly, that makes sense to you? Link to post Share on other sites More sharing options...
Ktglfc Hypersonic November 6, 2014 Share November 6, 2014 any chance he is doing rotation until the "real" Job they have for him is open up?? Don't tell me he will be a potential MIW? Link to post Share on other sites More sharing options...
Joseph22 Turbocharged November 6, 2014 Share November 6, 2014 That is in general and from my observation happens below the top management level. Coming back specifically to this situation (CFO at SMRT), the analyst is saying nothing to be alarmed about this sudden departure (despite the history of the SMRT CFO post) because (i) strong governance (ii) majority owned by Temasek. Honestly, that makes sense to you? Doesn't I am trying to think what he is trying to say also.. so may be is this: I think what he want to say is it is not normal for CFO to change so fast. However, base on their history of changing CFO so fast. there is nothing to worry because of 1 and 2. the history is they change every year.. so its a norm bah Don't tell me he will be a potential MIW? too early lah... Link to post Share on other sites More sharing options...
Celicar Turbocharged November 6, 2014 Share November 6, 2014 Doesn't I am trying to think what he is trying to say also.. so may be is this: I think what he want to say is it is not normal for CFO to change so fast. However, base on their history of changing CFO so fast. there is nothing to worry because of 1 and 2. the history is they change every year.. so its a norm bah too early lah... Maybe. But I think he's looking up the wrong end. I think the more straightforward explanation is the fast changes is a sign that maybe what he see as comfort factors (1 and 2) are not what they are made out to be. To put it mildly, I think the analyst has some interest/agenda to say what he said. Link to post Share on other sites More sharing options...
Joseph22 Turbocharged November 6, 2014 Share November 6, 2014 Maybe. But I think he's looking up the wrong end. I think the more straightforward explanation is the fast changes is a sign that maybe what he see as comfort factors (1 and 2) are not what they are made out to be. To put it mildly, I think the analyst has some interest/agenda to say what he said. or maybe.. he want to sell his share first before it drop Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 6, 2014 Author Share November 6, 2014 Maybe. But I think he's looking up the wrong end. I think the more straightforward explanation is the fast changes is a sign that maybe what he see as comfort factors (1 and 2) are not what they are made out to be. To put it mildly, I think the analyst has some interest/agenda to say what he said. it is not common for a long serving CFO to leave.................and to have the successors leaving one after another in a short period of time................ sometimes dont have to be too direct...........esp when some big giant is involve............. COO leaves when operations screw up....................CEO leaves when major event screw up.............CFO leaves when the book is not straight .................. Link to post Share on other sites More sharing options...
Jamesc Hypersonic November 6, 2014 Share November 6, 2014 damn it... i still have some SMRT shares.... So you must be one of the few people that feel very happy when they announce a fare increase. 1 Link to post Share on other sites More sharing options...
Xers007 Supercharged November 6, 2014 Share November 6, 2014 So you must be one of the few people that feel very happy when they announce a fare increase. no.... because the fare increase does not translate into better dividends or increase in their share price... Link to post Share on other sites More sharing options...
Jamesc Hypersonic November 6, 2014 Share November 6, 2014 no.... because the fare increase does not translate into better dividends or increase in their share price... Really? I was very interested in getting some shares as I thot every time increase in fares I can get a better dividends or increase in share price. Now you tell me like this I think I will not buying any of their shares. Link to post Share on other sites More sharing options...
Xers007 Supercharged November 6, 2014 Share November 6, 2014 Really? I was very interested in getting some shares as I thot every time increase in fares I can get a better dividends or increase in share price. Now you tell me like this I think I will not buying any of their shares. dont buy... the shares i am holding are all losing money... only holding on for the dividend and will sell it once the price hit even... 1 Link to post Share on other sites More sharing options...
Myxilplix Turbocharged November 6, 2014 Share November 6, 2014 Yah makes sense since it's a private but GLC public transport provider. Meaning dun worry be happy temasek will settle everything. In the red also nevermind, got strong governance+temasek majority share holding. Any problem just increase fares lor, nobody can stop them. Strong governance cos in the end we know who controls it, sibeh strong one. 2 Link to post Share on other sites More sharing options...
Jamesc Hypersonic November 6, 2014 Share November 6, 2014 Maybe when people cannot buy new cars due to high COE they will have to take train and bus and we can pack them in like sardines to make more money. Maybe then it will be a good time to buy their shares as their profits will increase. Link to post Share on other sites More sharing options...
Vid Hypersonic November 6, 2014 Share November 6, 2014 The numbers do not add up lah. Simple. And he couldn't find what was wrong with it ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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