Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Printable Version
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Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Alleggsinonebasket - 19-08-2023
![[Image: j6gMeJq.png]](https://imgur.com/j6gMeJq.png)
More at https://tinyurl.com/4utjfbyu
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Bigiron - 19-08-2023
They are the king they set the rules what to expect.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Ola - 19-08-2023
Wow! Geroge is so capable to sit in many offices
No wonder PAP reject him
They are Overwhelmed by his capabilities.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - sgbuffett - 19-08-2023
Based on the rules, I agree with their conclusions.
Anyway TKL has qualified as a independent so can consider
TKL is more in tune with many social issues than George Goh.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - lioncityftw - 19-08-2023
(19-08-2023, 02:45 PM)Alleggsinonebasket Wrote:
More at https://tinyurl.com/4utjfbyu
Of course. It's totally logical. As mentioned before, the PEC cannot set a precedent to allow any candidate running multiple entities, in this case GG claimed to own 200 companies opened and closed, to cherry pick only the profitable ones to form $500M, without having the group margin affected by those other companies losing monies and closed down.
This would not be fair to those who successfully manage a single holding company and make it profitable for at least three years.
Else for e.g. anyone who run 100 companies, only 5 has > $500M equity and profitable but majority of the rest all losing money or closed down losing hundreds of millions with an overall negative margin, can also anyhow cheery pick the best ones to submit, LOL.
GG clearly knew the PEC requirement which he claim he had already start preparations more than 6 years ago, so if he is really capable and eligible, why he did not form a holding company to include all these profitable companies to hit more than $500M in equity and remain profitable for past 3 years?
It is obvious that he cannot make it for the past 6 years, hence have to cherry pick only his best performing companies while closing down or omitting the rest of the unprofitable ones to try to circumvent the system, which obviously is cheating, LOL.
The only exception for aggregation as explained in the letter is when for e.g at least one company is close to the $500M mark, for e.g. each at $450M x 2 = $900M or $450M + $300M = $700M which I believe the PCE would have given the green light. This is totally logical and reasonable. At least one of the submitted companies should be very close to $500M mark, else it will no longer be logical and make the increase from $100M to $500M totally pointless when people can just circumvent the system.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - toothpick - 19-08-2023
The PEC set the rules? More like they follow the rules and "someone" set it.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Sticw - 19-08-2023
(19-08-2023, 02:45 PM)Alleggsinonebasket Wrote:
More at https://tinyurl.com/4utjfbyu
On second thought, the PEC not very correct to assess this way leh. He executive chairman and CEO leh. Meaning he not sit around attend just board meetings one, he involved in the businesses.
Warren Buffett owns one company or multiple companies? The span of control and management is similar just different legal structures.. but of course he had other considerations hence never consolidate under one group... I think not so easy to consolidate cos a lot of share transfer etc etc...
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - starbugs - 19-08-2023
If GG wants to enter the next PE, he can try to inject his 4 other companies into Ossia to reach 500m equity. Of course, the bar may be raised in 5 years, but more importantly, such a bigger company becomes more difficult to manage than 5 smaller companies. And this is precisely why the rule is for one company of 500m equity, not multiple ones added together.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
Yes unless George can show one with a size of more than 500m and he have been its CEO for more than 3 years like TKL in INCOME. Did he show that ?
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
Can someone show me the sizes of the companies he submitted ?
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - red3 - 19-08-2023
If 50k jobs are created and hired under him for his entity by next 5 years, that will be 10billion and 100k votes minimum no horse run.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
If all add up to be more than 500m, than George misunderstood the article. It one of them is more than 500m, then he has an argument.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Clyde - 19-08-2023
It is not up to him to decide whether to consolidated or not. It involves many shareholders and they may not want to.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - watchfirst9 - 19-08-2023
Are the companies are inter-related?
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
(19-08-2023, 07:16 PM)red3 Wrote: If 50k jobs are created and hired under him for his entity by next 5 years, that will be 10billion and 100k votes minimum no horse run.
Correct. That is why I ask is it one all all add up. If all add up to be 500m, many bizmen can apply to be President candidate.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
(19-08-2023, 07:19 PM)watchfirst9 Wrote: Are the companies are inter-related?
Here is the problem, you hit the nail on the head. It has to b one single mega entity like INCOME or NTUC, which I do not think there are many in our private sector unless u refer to Far East Property or UOB bank then qualify. Herein is the question.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
Next round ask Wee Cho Yaw come out and run la.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
If Wee Cho Yaw or his son really apply, I wanna see how they treat their application because they are really mega companies.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - ArielCasper - 19-08-2023
(19-08-2023, 05:08 PM)sgbuffett Wrote: Based on the rules, I agree with their conclusions.
Anyway TKL has qualified as a independent so can consider
TKL is more in tune with many social issues than George Goh.
Just because they come up with some bullshit rules doesn't mean you need to agree with their conclusion.
I still want my merlion to run for presidency..
Vote for merlion, coz like whoever become EP, you just need to show your face and shake hands, something that merlion has been doing all these while for sinkie land by being the mascot of sinkie land.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - sclim - 19-08-2023
quite agree with the decision.
but goh could over come it by forming a holding company and inject his interest into that holding company. which will have enough asset to past the test.
he can prepared for that in the next presidential elections.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Instinct - 19-08-2023
GG should accept the decision and move on. No point crying over spill milk as nothing will change. He should now put his support behind the most independent candidate so that in the next PE, there will be reciprocity and help for him. Do it or regret it later.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - RichDad - 19-08-2023
(19-08-2023, 05:51 PM)lioncityftw Wrote: Of course. It's totally logical. As mentioned before, the PEC cannot set a precedent to allow any candidate running multiple entities, in this case GG claimed to own 200 companies opened and closed, to cherry pick only the profitable ones to form $500M, without having the group margin affected by those other companies losing monies and closed down.
This would not be fair to those who successfully manage a single holding company and make it profitable for at least three years.
Else for e.g. anyone who run 100 companies, only 5 has > $500M equity and profitable but majority of the rest all losing money or closed down losing hundreds of millions with an overall negative margin, can also anyhow cheery pick the best ones to submit, LOL.
GG clearly knew the PEC requirement which he claim he had already start preparations more than 6 years ago, so if he is really capable and eligible, why he did not form a holding company to include all these profitable companies to hit more than $500M in equity and remain profitable for past 3 years?
It is obvious that he cannot make it for the past 6 years, hence have to cherry pick only his best performing companies while closing down or omitting the rest of the unprofitable ones to try to circumvent the system, which obviously is cheating, LOL.
The only exception for aggregation as explained in the letter is when for e.g at least one company is close to the $500M mark, for e.g. each at $450M x 2 = $900M or $450M + $300M = $700M which I believe the PCE would have given the green light. This is totally logical and reasonable. At least one of the submitted companies should be very close to $500M mark, else it will no longer be logical and make the increase from $100M to $500M totally pointless when people can just circumvent the system.
GIC also lost on many investments and cocksong is approved even though he is not the most senior guy there . So why GG cannot cherry pick?
They can still approve him if they wanted to based on another clause that shows his abilities match the requirements of president. It is all whether they want to or not.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - winbig - 19-08-2023
(19-08-2023, 07:22 PM)*天哥* Wrote: Here is the problem, you hit the nail on the head. It has to b one single mega entity like INCOME or NTUC, which I do not think there are many in our private sector unless u refer to Far East Property or UOB bank then qualify. Herein is the question.
Got a lot lah. Like keppel, sembcorp, capitaland, st eng, city dev, etc. CEO of the above for 3 years can qualify liao.
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Sentinel - 19-08-2023
(19-08-2023, 09:53 PM)winbig Wrote: Got a lot lah. Like keppel, sembcorp, capitaland, st eng, city dev, etc. CEO of the above for 3 years can qualify liao.
Which one the CEO no link with PAP and its various tentacle organs
I think don't have
Having a humongous organization can get into a lot of problems, it is always better to break them up into smaller entities
It is simply just an organization structure
If the role of the CEO is instrumental in all the entities, then PEC should allow it to be aggregated as one
Subjective lah, it is not too hard to conclude the reason for the rejection
Open your eyes wide wide big big
I do not like the fact that GG is a non-Singaporean by birth, but the population may not mind, so he should be allowed to contest and let the population choose what they want
Unlikely he will win anyway, because he is just an entrepreneur at heart
C'mon lah, TKL is a better choice than GG, so GG is out is better for us to decide
Isn't it clear as day? What's the problem now?
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
(19-08-2023, 09:53 PM)winbig Wrote: Got a lot lah. Like keppel, sembcorp, capitaland, st eng, city dev, etc. CEO of the above for 3 years can qualify liao.
Yes u r right, my mistake
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
(19-08-2023, 10:07 PM)Sentinel Wrote: Which one the CEO no link with PAP and its various tentacle organs
I think don't have
Having a humongous organization can get into a lot of problems, it is always better to break them up into smaller entities
It is simply just an organization structure
If the role of the CEO is instrumental in all the entities, then PEC should allow it to be aggregated as one
Subjective lah, it is not too hard to conclude the reason for the rejection
Open your eyes wide wide big big
I do not like the fact that GG is a non-Singaporean by birth, but the population may not mind, so he should be allowed to contest and let the population choose what they want
Unlikely he will win anyway, because he is just an entrepreneur at heart
C'mon lah, TKL is a better choice than GG, so GG is out is better for us to decide
Isn't it clear as day? What's the problem now?
I think u make sense
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - *天哥* - 19-08-2023
(19-08-2023, 09:34 PM)RichDad Wrote: GIC also lost on many investments and cocksong is approved even though he is not the most senior guy there . So why GG cannot cherry pick?
They can still approve him if they wanted to based on another clause that shows his abilities match the requirements of president. It is all whether they want to or not.
Hey...ya hor...u got a valid point !
RE: Rejection letter by PEC addressed to George Goh, do you accept its explanation? - Sticw - 19-08-2023
(19-08-2023, 07:11 PM)starbugs Wrote: If GG wants to enter the next PE, he can try to inject his 4 other companies into Ossia to reach 500m equity. Of course, the bar may be raised in 5 years, but more importantly, such a bigger company becomes more difficult to manage than 5 smaller companies. And this is precisely why the rule is for one company of 500m equity, not multiple ones added together.I don't think managing 5 separate entities is easier than 1 big entity... Not like that one lah..