Sinktel - Home-grown CEOs since Day 1; but its share price is way below Singtel IPO @ $3.60 for donkey years despites keep changing home-grown Cats! Time to change to a Black Cat?
As investors; who care whether Black Cat or White Cat? Cat which puts more money into our bank account is Good Cat!
Read? Singaporean Cat Or Homegrown Cat???
Read? DBS : Highest paid CEO in Singapore
Mr Shanmugam brought up how Mr Leong, in his maiden speech in Parliament last year, had professed his "deep disappointment" that DBS Bank was still without a home-grown chief executive, and asked if the PSP NCMP still believes that naturalised Singapore citizens should not hold top positions.
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Uncle8888,
ReplyDeleteThat reminds me of the $4.80 dividend I recently got from 200 singtel shares (legacy from grandma that I'm hodl-ing lol). Can still get caifun with that, but no more nice bubble tea, hahaha!
Was $20 just couple of years ago. New mgmt trying to preserve cash to fund new ways to dig themselves out of a deep hole?
Just hope they dig in the upwards direction & not downwards. Hard to tell which direction when the hole you're in is so deep it's more like a dark cave already LOL.
It's very surprising that a country that prides itself on ruthless efficiency & effectiveness would allow CEOs and Chairmen to just continue year after year of underperformance in Temasek & Govt linked companies??
Peacetime general mentality? ¯\_(ツ)_/¯
I thought IPO price was $1.90 ?
ReplyDeleteThat was for SG citizen discounted price. MIW deeply learnt this lesson. Never trust Mr Market to build up wealth for ordinary citizens. Once bitten. Twice shy! Discounted shares for GLCs for citizens to build wealth became extinct!
DeleteIdeal situation is to hire best cat for the job.
ReplyDeleteSometimes, it is unavoidable that we hire wrong and overpaid cat, no matter how careful. I would rather this overpaid cat be a home-grown cat because home-grown cat will at least spend his money domestically to boost local economy and not send most of his undeserved money back to his own home.
Bigger problem is when foreign-color cat gets into a hiring position, hires his own village of foreign-color cats and discriminates against local cats. If this problem is not arrested, this can lead to serious internal division that can blow up even a big organization. This is why Singapore always emphasize on racial harmony. Our country will be finished if 75% of the population cannot work in harmony with the remaining 25%.
Lastly, when there are not enough cats to catch the mice, we do not have the luxury to care about the color of the cat. Local cats can complain all we want but if we are not willing to make the sacrifice to produce and bring up more local cats, then we have to learn to live together with more foreign cats.
CW, hope your daughters going to produce a local cat to your family soon :)