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1 hour ago
Thursday, 17 January 2019
Skin In The Game (2)
Read? Skin In The Game
On Thursday, David Gerald, who heads the Securities Investors Association (Singapore) or Sias, urged Hyflux chairman and chief executive Olivia Lum to put more skin in the game.
Read? Sias chief calls for answers as Hyflux debt revamp
LOL!
Next time, you hear any "Gurus" boasting to you about their Method and Return!
So huat arh!
Put more skin in the Game.
Show us how much skin in the Game.
More than 50% of your net worth in the Game?
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"I dont have a deep pocket and all along i have been too ambitious but the irony is there are so many projects that are built around the world but it is the project in singapore that caused the downfall of singapore. We didnt predict it. But during that time when we took it, it was not a single person decision. The PUB has to approve it, all the independent engineers and advisors have to say yes and the banks have to approve it as well before we can even get involved in this project. So during that time, everybody was singing praises about it. It was the most excellent and most sustainable way. Otherwise knowing Singapore, nobody would stake out their necks and award something that is unsustainable in Singapore but something happened along the way and i dont want to mention it all over again . It was the situation about the electricity in Singapore and we are one of the victims. Other companies are also losing money but we are small." - Olivia Lum
ReplyDeleteAbsolutely nobody can see the Future that far away. Sad case! Her dream goes down the drain! Damn sad case!
DeleteCW,
DeletePrecisely. No one plans to fail...
I always have a wry smile when little parrots echo: If you fail to plan; you plan to fail.
Yeah, right...
I'm sure they submitted glowing reports, proposals, projections, "expert" analyses, competitor studies etc etc to all relevant parties. Otherwise govt authorities won't give go ahead & banks won't lend money.
DeleteIt's basically a case of taking on too much debt, thinking that 90% or 100% of the projections will come true.
Just like investors who go all in (with leverage some more!), without considering how much debts/mortgage/dependents they still need to service, or whether they have iron rice bowl job. ;)
The current power genco industry pain is consumer's gain.
Pretty sure it was a considered move by govt as power bills take up a significant % of low-to-middle income CPI, and a perennial voter complain from 2008 to 2015.
Spur,
DeleteYup, I don't think the introduction of new mobile operators and the liberalisation of the retail electrical power market were just a "coincidence" ;)
Hmm... Will gas and water come next? I'm not complaining!
This is life.
When we benefit from competition, we say, "Can we have more, daddy?"
But when competition meant more stress or losing our jobs... We whine, "Daddy, I'm not your born and bred?"
LOL!