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Thread: OMG! nkf issues refreshed.

  1. #41

    Default Re: OMG! nkf issues refreshed.

    Today's ST report:

    Matilda Chua

    Director got $150,000 in exit payments when she quit

    MS MATILDA Chua, 36, rose up the NKF ranks - from an executive in public relations in May 1991 to senior associate director when she quit in July 2000.

    In that time, her monthly salary rose from $1,300 to $12,500.

    Over nine years, she received salary increments of between $50 and $2,500, some of which were granted just a month or two after the previous raise.

    Not only that, she received generous bonuses. In 1998, her bonus was equivalent to 14 months' pay.

    In February 2000, her salary was raised from $9,000 to $10,000. Two months later, she expressed her intention to resign.

    Despite that, in June 2000, her pay was increased again to $12,500 and backdated to April.

    This second raise was not documented in her personal file, suggesting that the executive committee had not made the decision, independent auditor KPMG noted in its report.

    KPMG added: 'We found it unusual for the NKF to award a salary increment, much less a salary increment that was backdated, to an employee after that employee has indicated an intention to leave the company.'

    When Ms Chua left, she was also given a six-month bonus of $75,000 and an ex-gratia payment of another $75,000. She also received an encashment of unused leave that came to $79,195.

    The auditors said they were unable to determine how her unused leave had come to 151 days.

    Mr Durai said in an annual general meeting that Ms Chua would be 'awarded a bonus before her departure as a reward for her unstinting determination and innovation', but it is not known who decided the amounts and approved her exit payments.

    Ms Chua wrote to the auditors to explain that the salary increment she received was for her delaying her departure to oversee the NKF's annual charity show in June 2000. The six-month bonus was an annual reward she got since 1994 for overseeing the charity shows, while the ex-gratia payment was a long-service bonus.

    After she quit, she continued 'her role in an honorary capacity', taking care of all fund-raising departments and having regular meetings with staff.

    She actively facilitated the NKF's implementation of the enterprise resource management software, contracted to Forte Systems in 2001.

    She was appointed as a director of the board on Aug 16, 2002, and also made an executive committee member.

    ========================================

    When less is more

    T.T. Durai had appeared altruistic, requesting lower bonuses and pay rises. But in fact, the former NKF chief actually ended up making even more money. Here is how it was done


    Jan 2, 1995: Mr Richard Yong writes to Mr Durai to tell him he will get an eight-month bonus amounting to $96,000 ($12,000 x 8 months):

    'My colleagues and I would like to commend you for another remarkable year for the NKF,' he gushed. 'In fact, 1994 was a record year for the NKF. You have been able to raise about $22 million, with a surplus of $10 million. NKF's reserves now amount to nearly $38 million. We cannot commend you enough. We cannot compensate you enough. My colleagues and I want you to know how much we appreciate your painstaking work and sacrifice. As a token of our appreciation, we would like you to accept a bonus of eight months' salary.'


    Jan 3, 1995: Mr Durai declines the offer, requesting a five-month bonus instead:

    'I would not be doing justice to the hundreds of patients whom I have to cajole to pay their fees... I know this will be painful to my wife who has to contend with the little resources I can provide her and the children. However, I believe that someone has to make the sacrifice...'


    January 1995: Mr Durai is awarded $60,000 ($12,000 x 5 months), $36,000 less than Mr Yong offered.


    March 24, 1995: The executive committee proposes raising Mr Durai's salary from $12,000 to $30,000. He declines and accepts only $18,000, according to executive committee meeting minutes. The committee agrees but 'as a compromise... a retroactive adjustment of his salary and bonus based on $18,000 from Sept 1, 1994.'
    In March 1995, Mr Durai receives:



    Payout of backdated salary increment amounting to $36,000 ($6,000 x 6 months)



    Bonus top-up of $30,000 in addition to the $60,000 he had already received in January, making his total bonus $90,000 So, even though Mr Durai asked to receive $36,000 less in bonus in January 1995, he was eventually paid $30,000 more than he would have received had he accepted the original eight-month bonus offer from Mr Yong on his $12,000 salary.

  2. #42

    Default Re: OMG! nkf issues refreshed.

    no where in the midst of the reports did any mention where is TT and how are the authorities going to deal with him.....

  3. #43

    Default Re: OMG! nkf issues refreshed.

    These bunch of idiots........................

    They also claim high to the public the $$$ need to help the patients. Every dollar only 10cts goes to patients.
    Also, what the heck they still keep that much reserve? Do they need $$$ that much to the extend of 48% of donations goes to reserve?

    There is alot of staff which resigns after seeing how NKF was run, and i am glad they do this, my wife friend's do the right thing.

    I wonder how the artist (who perform in fund raising show) feels after all reports are out. They cry, they jump, they do stunts like hell all appear to be like crown now, decieved and conned by those suckers from hell.

    Also, the patients must be feeling sad, damn sad, they always thought they are seeing hopes.........from angels, now, turn out to be from hell.

    The idiots took so much $$$, and always claim that they deserve.
    Eat breath LIVERPOOL!!!

  4. #44

    Default Re: OMG! nkf issues refreshed.

    since he is so good, should make him do charity related work for the rest of his life, and ONLY give him enough dough and water to keep him alive, may be can also throw in a packet of peanut as bonus every year [/QUOTE]

    Haa.. that is a good suggestion! I wonder if he would show the same passion helping pple if he is not paid ... It shows alot whether a person is genuine helping patients and not expecting any returns or simply - just to increase NKF financial backing through public funding so that they can live extravagantly.

    I dun think TTD should be held totally responsible, the board of directors din do their jobs too. Hope the outcome will be a fair one... and not just to find a scrapegoat.

  5. #45

    Default Re: OMG! nkf issues refreshed.

    I believe by this time the authorities have everything planned out already, including who (not) to hang, and now executing step-by-step, starting with releasing the report one day after a big charity show...

  6. #46
    Senior Member denniskee's Avatar
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    Default Re: OMG! nkf issues refreshed.

    so the "moral" of the story is, we had all missed the chance to get rich.
    photography makes one sees things from all angles.

  7. #47
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    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by corollax
    I believe by this time the authorities have everything planned out already, including who (not) to hang, and now executing step-by-step, starting with releasing the report one day after a big charity show...
    The planning is almost perfect, first SPH, then Health Minister, then KPMG, then CPIB, then CAD, then IRAS, then MOM, probably more will follow soon...

  8. #48
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    Default Re: OMG! nkf issues refreshed.

    You mean you all do not realise there already is damage control and there are many potentially far more evil things they do not seem to look into and check?

  9. #49
    ClubSNAP Admin Darren's Avatar
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    Exclamation Re: OMG! nkf issues refreshed.

    At the risk of sounding like a broken record, we will remind members to discuss this OBJECTIVELY and without resorting to name-calling, using vulgar language or suggesting various things to be done to various entities.

    This is a PUBLIC FORUM and as such, we have to be mindful of what is being discussed and openly posted.

    If this warning is not heeded, we will remove ALL postings about the NKF without prejudice as we do not want to be implicated in any possible proceedings - the recent case of the two (three?) bloggers prosecuted over their online comments comes to mind as prior example of what COULD happen.

    First and Only Warning.

  10. #50
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    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by Yeowww
    think poor TT durian will be made the scapegoat

    the report seems to point everything to him
    woh...end of TT."Durian" life....his annual salary is 600K..it is time for him to puke back to public..
    KIM & PPY
    Black Camp F100,D90, AFD 35mm f2.0, Voigtlander Cosina 58mm Nokton Classic F1.4.

  11. #51

    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by user12343
    no where in the midst of the reports did any mention where is TT and how are the authorities going to deal with him.....
    this is kpmg audit report mah... where he is and how they will deal with him doesnt concern kpmg.

    or you talking about the st reports? maybe they havent got to that stage yet. still pending investigations.

  12. #52

    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by Yeowww
    think poor TT durian will be made the scapegoat

    the report seems to point everything to him

    He is definately not the scapegoat, he is one of the culprits.

    Afterall, he had got all the power and called the shot back then.

    So i repeat, he is one of the culprits, definately not the scapegoat.

  13. #53

    Default Re: OMG! nkf issues refreshed.

    sigh.....i am being 'forced' by my teachers to raise funds for NKF since childhood days. Really feel cheated. Sometimes, teachers said must have 'minimum' sum of donations.

  14. #54
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    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by jsbn
    Well, this is not 'accusations' hurled at them. Its FACTS. Facts being poured out into the open. And the very fact on the mismanagement that had happened, 2 innocent chaps talked abt it and got sued and the perpetuator got away scot free for so many years.

    Being human doesn't give u the excuse of smearing an innocent person's name and refusing to admit his own sin & recognising the innocence of another even on the verge of death.

    Being human doesn't mean that u can get away with apparent mismanagement and to what the public see as 'corrruption'. The 'good' they had done? How much of the buildings were sponsored for? How much was actually taken frm the funds for the true welfare of paitents? The report is out, black and white, we have eyes, we can see and the fact is only 10% out of every dollar goes to the paitent and the rest goes to other unnecessary stuff.

    X'mas is coming, forgiving is in the X'mas name of caring for another. But in such a case, 'forgiveness' shldn't be in the vocabulary on how to deal with this chap. In this case, the only word that exist shld be 'Death'.
    u sound like santa "clown" ...keke
    KIM & PPY
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  15. #55
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    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by cookiez
    He is definately not the scapegoat, he is one of the culprits.

    Afterall, he had got all the power and called the shot back then.

    So i repeat, he is one of the culprits, definately not the scapegoat.
    well said..u have my two "toe" support..."toe UP" if he is not culprit...then is who??santa clause?
    KIM & PPY
    Black Camp F100,D90, AFD 35mm f2.0, Voigtlander Cosina 58mm Nokton Classic F1.4.

  16. #56

    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by smallaperture
    Christmas is coming. Is forgiving part of the Christmas spirit?
    If you understand the spirit of Christmas, it is God coming to pay the price for our sins.

    The price of sins had to be paid.

    Who will pay this price in the NKF saga? Are you willing to be the sacrificial lamb?

  17. #57

    Lightbulb Re: OMG! nkf issues refreshed.

    good question. who will ultimately pay the 'price'?

  18. #58
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    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by ricohflex
    lucky jsbn not the presiding judge
    otherwise
    tt
    will get death penalty from him
    and tt will then mean ta ta ( goodbye)
    Actually quite heng that I did not study hard enuff to be a politician. Otherwise I think a lot of ppl will suffer.

    I was thinking along the lines of banishment + family property confiscation. Or even better...

    Massacre his entire family lineage (and all those involved) + Family property confiscation.

    But this is not Imperial China & I'm not the Emperor.... unfortunately.
    "Wonders of the Human Mind. Unfathomable to the highest degree."

  19. #59
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    Default Re: OMG! nkf issues refreshed.

    Quote Originally Posted by user12343
    no where in the midst of the reports did any mention where is TT and how are the authorities going to deal with him.....
    Ah well, TT's passport got impounded by CID the last I'd heard. He ain't skippin' the country anytime soon.

    As for his wife & daughter, not very sure liaoz.
    "Wonders of the Human Mind. Unfathomable to the highest degree."

  20. #60

    Default Re: OMG! nkf issues refreshed.

    The man would like to thank everyone is CS who have contributed in 1 way or another to his paycheck. At least, we know that 0.10cents of our hard-earned dollar goes to charity....

    I nearly fell off my chair when he said "...my wife who has to contend with the little resources I can provide her and the children. However, I believe that someone has to make the sacrifice...". This man, so humble and so charitable....making such a sacrifice (out of his millions). Very honourable indeed.

    On a serious note...I think the buck will stop here with this report else more hidden worms will be dug out.....there are lots more actually....

    Let's give him a break la....it's not going to be easy for him.....Singapore's most unpopular man (and that's being polite)...
    "ashes to ashes; funk to funky..we know major_tom's a junkie
    strung out on heaven's high....."

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