Hyflux fiasco shows why ‘book value’ is BS
And why audited accounts are juz another genre of fiction: science fiction is closer to reality. I tot these tots when I read Hyflux’s response to a question from Securities Investors Association of S’pore (SIAS) which read: On what basis was Tuaspring being valued at SGD1.4 billion? This has proven to be overstated by at...
Did Hyflux’s auditors mislead?
Further to A really curious incident,where I criticised SIAS for not KPKBing early, here’s one criticism it got right, though why didn’t it raise this earlier, much earlier? “On Mar 22 2018, KPMG provided a clean a clean audit report for Hyflux Group for the financial year 2017. On May 22 2018, Hyflux Limited and a...
Troubles at SingPost is symptomatic of the problems in Singapore society
I grew up in an era where the expectation was that it took only a day (or at the very most 2) for local letters to be delivered. Sadly that is not the situation any longer and I have noticed that it is quite normal these days for letters to be delivered up to a week or even 10 days after the date on the postmark! It has already...
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