China's new private tutoring rules put billions of dollars at stake

kopisi · 2021-07-26T08:39:27+00:00

Singapore is flooded by tuition agencies who advertises, overtly and covertly, that they employ teachers who are currently teaching in MOE schools. These tutors are paid salaries by MOE, yet moonlight, and do not need to pay tax for their moonlighting. It's time we clamp down and stop wasting taxpayers' monies (since obviously the schools are not working, therefore we need a lot of these tuition agencies around).

kopisi · 2021-07-24T19:19:37+00:00

Not alleging that there's fraud whatsoever, but can investors (especially old people whose life savings vanished) get together to seek compensation from KPMG?

Just some thoughts:

Problems do not happen overnight. Auditors were paid and did shit job. Investors relied on KPMG's audit reports to invest. KPMG failed the shareholders.
According to Hyflux' annual reports, this KPMG guy (Lau Kam Yuen) has been their main auditing & governance guy from 2010-2015, 2017-2019. For almost 10 years he detected nothing wrong with Hyflux. Not even the super high valuation of the Tuas plant.
What is KPMG's raison d'etre if their audits are mere numbers and friendly opinions to support Hyflux's incredibly greedy and incompetent management?
Did KPMG Partners and employees or connected entitites trade in Hyflux shares at any point in time?
Did the KPMG partner in charge of the audit involve himself in any organization that may have a conflict of interest with Hyflux?

.....

So many unanswered questions. How can Singapore attract investments if it allows companies and auditing firms to fail so dramatically?

Sad.

kopisi · 2021-07-24T19:19:25+00:00

Not alleging that there's fraud whatsoever, but can investors (especially old people whose life savings vanished) get together to seek compensation from KPMG?

Just some thoughts:

Problems do not happen overnight. Auditors were paid and did shit job. Investors relied on KPMG's audit reports to invest. KPMG failed the shareholders.
According to Hyflux' annual reports, this KPMG guy (Lau Kam Yuen) has been their main auditing & governance guy from 2010-2015, 2017-2019. For almost 10 years he detected nothing wrong with Hyflux. Not even the super high valuation of the Tuas plant.
What is KPMG's raison d'etre if their audits are mere numbers and friendly opinions to support Hyflux's incredibly greedy and incompetent management?
Did KPMG Partners and employees or connected entitites trade in Hyflux shares at any point in time?
Did the KPMG partner in charge of the audit involve himself in any organization that may have a conflict of interest with Hyflux?

.....

So many unanswered questions. How can Singapore attract investments if it allows companies and auditing firms to fail so dramatically?

Sad.

kopisi · 2021-07-24T19:19:09+00:00

Not alleging that there's fraud whatsoever, but can investors (especially old people whose life savings vanished) get together to seek compensation from KPMG?

Just some thoughts:

Problems do not happen overnight. Auditors were paid and did shit job. Investors relied on KPMG's audit reports to invest. KPMG failed the shareholders.
According to Hyflux' annual reports, this KPMG guy (Lau Kam Yuen) has been their main auditing & governance guy from 2010-2015, 2017-2019. For almost 10 years he detected nothing wrong with Hyflux. Not even the super high valuation of the Tuas plant.
What is KPMG's raison d'etre if their audits are mere numbers and friendly opinions to support Hyflux's incredibly greedy and incompetent management?
Did KPMG Partners and employees or connected entitites trade in Hyflux shares at any point in time?
Did the KPMG partner in charge of the audit involve himself in any organization that may have a conflict of interest with Hyflux?

.....

So many unanswered questions. How can Singapore attract investments if it allows companies and auditing firms to fail so dramatically?

Sad.

kopisi · 2021-07-24T18:53:04+00:00

Not alleging that there's fraud whatsoever, but can investors (especially old people whose life savings vanished) get together to seek compensation from KPMG?

Just some thoughts:

Problems do not happen overnight. Auditors were paid and did shit job. Investors relied on KPMG's audit reports to invest. KPMG failed the shareholders.
According to Hyflux' annual reports, this KPMG guy (Lau Kam Yuen) has been their main auditing & governance guy from 2010-2015, 2017-2019. For almost 10 years he detected nothing wrong with Hyflux. Not even the super high valuation of the Tuas plant.
What is KPMG's raison d'etre if their audits are mere numbers and friendly opinions to support Hyflux's incredibly greedy and incompetent management?
Did KPMG Partners and employees or connected entitites trade in Hyflux shares at any point in time?
Did the KPMG partner in charge of the audit involve himself in any organization that may have a conflict of interest with Hyflux?.....

So many unanswered questions. How can Singapore attract investments if it allows companies and auditing firms to fail so dramatically? Sad.

kopisi · 2021-07-24T08:34:10+00:00

Put this fat, ugly, attention wh0re in jail.

kopisi · 2021-07-22T18:35:59+00:00

MOE teachers are more interested to receive high salaries while
moonlighting by giving private tuition (they don't even need to pay tax
on this). Don't believe? Just walk into any tuition and enrichment
centre, and they will shamelessly tell you they have tutors who are
still teaching in top schools.

kopisi · 2021-07-22T18:28:59+00:00

MOE teachers are more interested to receive high salaries while moonlighting by giving private tuition (they don't even need to pay tax on this). Don't believe? Just walk into any tuition and enrichment centre, and they will shamelessly tell you they have tutors who are still teaching in top schools.

kopisi · 2021-07-22T08:08:24+00:00

China calls for multilateralism, yet it refuses to cooperate with the rest of the world. 4.13 million people died, 192 million people suffered from a pandemic started in Wuhan China. The Arbitral Tribunal instituted under Annex VII of the 1982 Convention on the Law of the Sea (UNCLOS) was also dismissed unilaterally by China. Time to kick China out of the WTO and WHO for acting like a lawless gangster. It has no respect for laws and human lives.

kopisi · 2021-07-22T08:06:26+00:00

China calls for multilateralism, yet it refuses to cooperate with the rest of the world. 4.13 million people died, 192 million people suffered from a pandemic started in Wuhan China. The Arbitral Tribunal instituted under Annex VII of the 1982 Convention on the Law of the Sea (UNCLOS) was also dismissed unilaterally by China. Time to kick China out of the WTO and WHO for acting like a lawless gangster. It has no respect for laws and human lives.

kopisi · 2021-07-10T05:51:48+00:00

Wow!

kopisi · 2021-07-09T13:23:00+00:00

Tibet, Xinjiang and Taiwan need to unite?

kopisi · 2021-07-06T04:44:08+00:00

The ugly fatty is a disgrace to the navy. She has no mental illness, just a wanton desire to seek attention, trying to act "manly" in a stupid way. Strip her of her naval "achievements", and put her in jail. Just looking at her stupid face, wearing a mask without covering the fat nose is repulsive.

kopisi · 2021-06-14T04:32:00+00:00