TT Durai's NKF

-
Is NKF at wrong? A most damning report has been compiled and released by KPMG. Watching the news on TV, NKF had made a most outrageous mistake, spending only 10% of the funds raised on patients and centering almost all administrative powers within the organisation with TT Durai. The complete lack of oversight and controls had resulted in kidney patients receiving far less than their fair share of the public donations for their treatment.

Remembering that Durai's daughter "appealed to Prime Minister Lee Hsien Loong to help restore her father's honour and reputation if a review of the NKF shows there have not been any wrongdoings", it now appears that Durai is not in the clear. Will she be writing an apology letter to all the Singaporeans?

The old NKF is a total embarassment, fiasco under TT Durai. It had only been most efficient as a fund raising organisation. Now that there is a new management at the helm of the organisation, let's hope that donations can be better managed and patients better taken care of. Unfortunately, NKF is not going to get my donations at the moment as I have my preferred charity, The School Pocket Money Fund.

The press release (19 Dec 2005), KPMG’s report on investigation into the National Kidney Foundation (NKF), can be found here.

Comments

Post a Comment

Popular posts from this blog

www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg

-
Image
www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg, www.sharkybids.com, etc are some "auction" sites that sprouted recently. At first glance, these auction sites appear to be offering tremendous deals to interested buyers through huge discounts. However, the caveat that when a deal sounds too good to be true be careful holds. To understand how www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg, www.sharkybids.com and such works, it is important to understand the mechanics of their operations. I will use sold.sg as an example. Let us take one item that was recently sold on www.sold.sg to illustrate the financial calculations for a good deal purchased. The Canon IXUS 300 was sold at $52.35, a staggering 83% to the retail price of $599. Does this mean sold.sg made a big loss? From where was sold.sg able to source for such cheap products? It is important to note that bidding on items is not free. Each bid requires 1 token which is sold t
Read more

WHO Announces End of COVID19 Pandemic

-
Promising COVID19 vaccines! Lower numbers of new infections! COVID19 is now under control! COVID19 cure found! Headlines that we will love to see but reality is far less rosy.  COVID19 is a virus.  A strain of coronavirus not unlike past virus such as SARS in 2003, MERS in 2012. Years have passed and no vaccine, no cure has been found for SARS or MERS. The same is likely to happen for COVID19. The optimistic put hopes on the huge efforts to find a working vaccine but what if  the end state is that the virus is here to stay? The virus is selective. Many infected are just asymptomatic or with mild symptoms, carriers whom go on to keep the spread alive. These are usually the young/healthy ones with no underlying issues. The ones whom really suffer are the older/weaker. At the end, perhaps we need to come to terms that it will remain as commonplace as influenza. People will die if they do not take care of their health. Life expectancies will be lowered as weakened elderly fail to overcome
Read more

Singapore Presidential Election 2017

-
Will this election be a reserved one for the "Malay" community? While Dr Tan Cheng Bock's initial case for an "open" election has been dismissed, it is still up for appeal. Should the reserved election proceed, the likely Presidential candidates for 2017 so far are: Mr Salleh Marican (CEO, Second Chance Properties) Mr Farid Khan Kaim Khan (Chairman, Bourbon Offshore Asia Pacific) Mdm Halimah Yacob (Speaker of Parliament) Mr Salleh Marican He is of Indian heritage and lacks fluency in the Malay language. Additionally, calculations by The Straits Times puts Second Chance’s average shareholder equity over the past three years between $254.3 million and $263.25 million, missing the eligibility criteria of at least $500 million in shareholders’ equity, on average, for the most recent three financial years. Mr Farid Khan Kaim Khan The question will likely hinge on whether he is "Malay" enough to contest in the Reserved Presidential Elections
Read more