Consolidated NKF Thread
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XPeriment626
New Member
nemesis32 said:
Of course they have to pay staff, but not overpay them. And please, NKF guidelines? The Board is obviously as well paid as Durai so don't expect them to make any noise about these excesses.
How much he is paid is not only relevant, it is PUBLIC INTEREST. Even CEOs and Ministers have to disclose their salaries, who is Durai that he should be given such special privacy treatment?? If the public knew that NKF could pay him $600k and send him on first class travel, they would use their hard earned money to give to OTHER charities who would use it for wheelchairs and hearing aids, etc.
You seem to advocate that the ends justify the means. They do not. And many poorer Singaporeans who still give of their hard-earned money to help the needy will not appreciate Durai's excesses when clearly NKF has more money than it can properly dispense.
That's why NKF moved into cancer fund - after the reserves issue blew up, people realised that the money they were hoarding and using for "admin expenses" was greatly disproportionate to the pool of kidney beneficiaries, so NKF has to create a new pool of supposed beneficiaries to justify the huge reserves.
My friend, 2.1m in cash and other benefits includes bonus share etc... It is not what he earns from shares. What it means is the cost to the company to give him the option and thus what he earns is much more than his basic salary.Hommie said:
Imagine it's worse in US, Claria Forlani, the ousted CEO of HP is still getting something like US$49m after being sacked! that's overpayment.
Since it is a charitable organisation, the issue is about balancing the diverging interests of various stakeholders which are critical to good governance.
The key elements of good governance are F.A.R.T.
These four values are :
1) Fairness
2) Accountability
3) Responsibility and
4) Transparency
Compare and contrast these four values to what have been written on the NKF's website :
What sets us apart
"We have followed the practices and policies of world-renowned successful institutions and of our own government. These include values such as DISCIPLINE, PERSISTENCE, THRIFT and DYNAMISM. We have put in place strong fundamentals in every aspect of our management. Our results are contingent upon our PRUDENT POLICIES, SOUND ADMINISTRATION and TRANSPARENCY. The achievements and the accolades that have come our way in the last 36 years belong to our donors and the people of Singapore."
What do we do
"The answer is simple. We do it with public support, with COMPLETE HONESTY, DISCIPLINE and DEDICATION. We dont believe in charity as supplication. We believe in charity as social enterprise. We believe in innovation and in the principles of total quality management and kaizen. This is why we inculcate a lot of corporate strategies in our operations."
The key elements of good governance are F.A.R.T.
These four values are :
1) Fairness
2) Accountability
3) Responsibility and
4) Transparency
Compare and contrast these four values to what have been written on the NKF's website :
What sets us apart
"We have followed the practices and policies of world-renowned successful institutions and of our own government. These include values such as DISCIPLINE, PERSISTENCE, THRIFT and DYNAMISM. We have put in place strong fundamentals in every aspect of our management. Our results are contingent upon our PRUDENT POLICIES, SOUND ADMINISTRATION and TRANSPARENCY. The achievements and the accolades that have come our way in the last 36 years belong to our donors and the people of Singapore."
What do we do
"The answer is simple. We do it with public support, with COMPLETE HONESTY, DISCIPLINE and DEDICATION. We dont believe in charity as supplication. We believe in charity as social enterprise. We believe in innovation and in the principles of total quality management and kaizen. This is why we inculcate a lot of corporate strategies in our operations."
XPeriment626 said:
Yes, it's in public interest but voluntary disclosure since no law states that. Do you see CEO of say KDF/Community Chest/SGH etc disclose his salary? Where did you get the salary of Ministers? It is not disclosed, all we know if the range...
XPeriment626 said:
Does the ends justify the means? I guess so. Just like would anyone question how much LKY is paid so long as he does a good job to change SG? Not likely. As for why they moved into cancer fund, i am not sure and will not know.
Donation is a big pie, i do not agree them using TV shows to attract donations. I rather see someone like NCSS to be the chief donation organisation and for them to allocate funds. That way there's more accountablity. As it is, some deservedly organisations may not get sufficient funding as they do not have things like TV shows.
dawgbyte77
New Member
nemesis32 said:
I think its not fair to compare NFK with other "commercial" corporation since the "profit" are generated differently. I would prefer to compare with a priest becoming a millionaire from donations. If I give money to SingNet, I get the service I want so again, comparison is misleading.
And I agree that staff needs to be paid but 25K monthly salary with 12 months bonus (around 50K per month)? And then imagine yourself donating $50, along with the heartache of giving up your hardearned money, you are also proud of knowing you made a difference to someone... and now you realize it ended up as a bathroom tap. Hmm... does that mean we are shareholder of that tap?
XPeriment626
New Member
nemesis32 said:
cmon, you think all those MDs and GMs from big companies will "volunteer" their extremely expensive time to be board members for nothing. They obviously get large directors' fees as well. The guy who was sued in 1998 by NKF, he said that the board of directors also flew first-class. Surely you don't think Durai can get away with these excesses if the Board weren't so well paid at the same time?
on a (slightly) unrelated point:
http://www.sgreefclub.com/forum/index.php?showtopic=35995&view=findpost&p=421188
poohbear
Senior Member
nemesis32 said:
Well ... if NKF's supposed charity organisation is a biz modal like temasek holdings , I got nothing to say liao ...Mrs Lee is not using my money so I wouldn't care how much she earns , but if durai/NKF BOD is using public's money aka yours and mine $$ to fund his perks, then I think the public has the right to know.
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