Joker #1: Andrew Kuan
Media reports say that Andrew Kuan is going to make a second bid for President. It adds that he thinks he now qualifies for a Certificate of Eligibility (COE) because as CFO of JTC, he was required to present its accounts to the Govt under the JTC Act.
Notwithstanding the public sliming he got from Govt leaders in the last Election, which was quite unnecessary, Mr Kuan appears to have a language comprehension problem.
He was rejected a COE the last time round because the Committee said the position of CFO is not equivalent to that of CEO.
Which part of “not equivalent” does Mr Kuan not understand?
That the JTC Act requires the CFO to present its accounts to the Govt does not make the position of the CFO equivalent to that of the CEO.
The CFO’s main job is to ensure that a company has sufficient funds to run its operations. The CFO also prepares the financial statements and takes responsibility for its accuracy.
That’s why the Act requires the CFO to present the accounts to the Govt. But taking responsibility for the accuracy of the accounts is not the same as taking responsibility for what the accounts show in terms of profit and loss.
That responsibility and accountability rests squarely on the shoulders of the CEO. It is the CEO who has the authority to make strategic decisions, and the responsibility and accountability for a company’s performance.
Thus the Committee’s decision to deny him a COE in 2005 was absolutely right.
If this the only justification he can give after an interval of six years, all it shows is that he has learnt nothing and done nothing to make himself qualify for President.
Joker #2: Tan Jee Say
I don’t know what to say! [stamp feet]
Mr Tan thinks he qualifies for a COE because he was a fund manager for over $100M of assets under management.
The man is a scholar, so he can’t be stupid. So why does he think that a fund manager position is equivalent to that of a CEO of a $100M company, which could easily have a $1B in sales?
First, $100 AUM is really not that big. Second, it’s other people’s money, not equity. Third, a fund manager is not a CEO-equivalent. At best, a fund manager is a good investment adviser/manager.
I’d rather Mr Tan argued that the position of Principal Private Secretary is equivalent to that of a head of a stat board. Anyone who’s watched Yes Minister will agree. He could argue that the Superscale Grade of a PPS is equivalent to that of a Stat Board CEO.
No, I don’t think Mr Tan is serious about his bid.
I think the real reason Mr Tan joined the Presidential race is so that he can have a plausible reason to quit SDP. He didn’t buy in to SDP’s civil disobedience tactic, so this is a face-saving way for both sides to part ways.
Question is, which party will Mr Tan hop to in 2016?