Note the Press below.
Ren Ci is in crisis, the monk was charged only a few days ago. Yet the press has written a stirling article about Seah Moon Ming, President, Singapore Technologies Electronics(GLC) along the lines of a hero, who skills are so rare and his commitment so great, that without him Ren Ci would collapse. Sadly it did not identify the firm that helped put together the governance template and I understand that work is still being done.
Anyone who is ethical, tertiary trained, with 5 years of experience in the field and focus can put together an effective coporate governance template.
If after this espisode, Ren Ci recovers well, gets its donation back to normal with the same level of service, then it maybe appropriate to write an article along the lines of heroism. Really sucks when the depth of the problems has not surfaced.
http://newpaper.asia1.com.sg/news/story/0,4136,171054,00.html?
MAN IN CHARGE OF REN CI'S CORPORATE GOVERNANCE SPEAKS
Patients need help, so... I'm determined to make it work
By Genevieve Jiang
July 19, 2008
WHEN he first got the call from Ren Ci Hospital's clinical director Dr Ong Seh Hong last September, he said yes immediately to an invitation to join the hospital's management committee.
Singapore Technologies Electronics president Seah Moon Ming is heading Ren Ci's new five-member committee on corporate governance. -- Picture: LIANHE WANBAO
But it was only during the first board meeting that Mr Seah Moon Ming realised the daunting task he faced.
The 52-year-old president of Singapore Technologies Electronics found out during the meeting that accountancy firm Ernst & Young had been asked to conduct an inquiry into 'irregularities in certain financial transactions' at Ren Ci Hospital.
Mr Seah told The New Paper: 'Ernst and Young was asking questions about the hospital's financial affairs.
'The management committee, headed by the new chairman, wanted to strengthen corporate governance and improve transparency.'
Mr Chua Thian Poh, chairman of property developer Ho Bee Investment, was appointed the hospital's new chairman last September.
Previously, the roles of the chief executive and chairman were not separated. Dr Ong has been standing in as the charity's interim CEO.
Mr Seah, who used to be a regular donor to the hospital, was tasked with heading a new five-member committee on corporate governance, to ensure proper checks and balances.
But he wasn't intimidated by it.
'When I was asked to join the committee, I was already prepared to give my all and help as much as I can.
'Previously, I always gave money, not effort. But when I walked through the wards for the first time last year, I saw how the patients were suffering. Many faced financial difficulties.
'It made me determined to help and make sure the hospital could continue operations despite what happened.'
Mr Seah said he had since 'burnt many Sundays' working, but his 47-year-old wife and three children, aged 13 to 21, are 'supportive'.
'My wife has visited the hospital and she understands that there are patients here who need our help.'
Mr Seah is one of two new members to the committee appointed by the chairman. The other is Mr Tan Huay Lim, 52, a partner and head of IPO services at auditing firm KPMG.
Unlike Mr Seah, Mr Tan knew of Ren Ci's troubles when Mr Chua, the chairman, approached him last year.
Mr Tan said: 'It was a challenging task, but I was ready to help for a good cause.'
The hospital's management committee met reporters yesterday, two days after the former head of Ren Ci Hospital, Shi Ming Yi, 46, was charged in court with 10 counts, including forgery, misappropriation of funds and conspiracy to give false information to the Commissioner of Charities.
Since last September, Mr Chua and the other 17 members of the management committee have come up with stricter procedures to strengthen governance.
Now, a cheque must be signed by two groups of people instead of by two persons previously. All staff members must declare gifts and donations. The chairman and CEO will have to be evaluated by the rest of the management committee.
Whistle-blowers may also approach committee members with tip-offs.
Mr Chua revealed that donations to the charity have plummeted.
This is because the popular Ren Ci charity show, which brought in more than $7 million in donations per show for the past two years, was stopped while the probe was underway.
Some donors who give money by Giro, which automatically deducts money from their bank accounts, have also pulled out. The committee has since used more than $1 million of their reserves as a result.
Mr Chua said their priority now is to restore public confidence. 'We still have a team of dedicated staff members and volunteers who believe in doing their best for the patients. No staff member has been retrenched and no volunteer has asked to leave. We will all continue to work hard.'
--------------------------------------------------------------------------------
DONATIONS DIP
TOTAL DONATIONS
From Dec 2006 to June 2007: $9.6 million
From Dec 2007 to June 2008: $1.1 million
MONTHLY GIRO DONATIONS
Before probe: $62,000
Now: $54,000
Amount needed for new hospital at Irrawaddy Road: $42.4m
Health Ministry's grant: $21m
Amount raised so far: $12.1m
Shortfall: $9.3 million
Ren Ci is in crisis, the monk was charged only a few days ago. Yet the press has written a stirling article about Seah Moon Ming, President, Singapore Technologies Electronics(GLC) along the lines of a hero, who skills are so rare and his commitment so great, that without him Ren Ci would collapse. Sadly it did not identify the firm that helped put together the governance template and I understand that work is still being done.
Anyone who is ethical, tertiary trained, with 5 years of experience in the field and focus can put together an effective coporate governance template.
If after this espisode, Ren Ci recovers well, gets its donation back to normal with the same level of service, then it maybe appropriate to write an article along the lines of heroism. Really sucks when the depth of the problems has not surfaced.
http://newpaper.asia1.com.sg/news/story/0,4136,171054,00.html?
MAN IN CHARGE OF REN CI'S CORPORATE GOVERNANCE SPEAKS
Patients need help, so... I'm determined to make it work
By Genevieve Jiang
July 19, 2008
WHEN he first got the call from Ren Ci Hospital's clinical director Dr Ong Seh Hong last September, he said yes immediately to an invitation to join the hospital's management committee.
Singapore Technologies Electronics president Seah Moon Ming is heading Ren Ci's new five-member committee on corporate governance. -- Picture: LIANHE WANBAO
But it was only during the first board meeting that Mr Seah Moon Ming realised the daunting task he faced.
The 52-year-old president of Singapore Technologies Electronics found out during the meeting that accountancy firm Ernst & Young had been asked to conduct an inquiry into 'irregularities in certain financial transactions' at Ren Ci Hospital.
Mr Seah told The New Paper: 'Ernst and Young was asking questions about the hospital's financial affairs.
'The management committee, headed by the new chairman, wanted to strengthen corporate governance and improve transparency.'
Mr Chua Thian Poh, chairman of property developer Ho Bee Investment, was appointed the hospital's new chairman last September.
Previously, the roles of the chief executive and chairman were not separated. Dr Ong has been standing in as the charity's interim CEO.
Mr Seah, who used to be a regular donor to the hospital, was tasked with heading a new five-member committee on corporate governance, to ensure proper checks and balances.
But he wasn't intimidated by it.
'When I was asked to join the committee, I was already prepared to give my all and help as much as I can.
'Previously, I always gave money, not effort. But when I walked through the wards for the first time last year, I saw how the patients were suffering. Many faced financial difficulties.
'It made me determined to help and make sure the hospital could continue operations despite what happened.'
Mr Seah said he had since 'burnt many Sundays' working, but his 47-year-old wife and three children, aged 13 to 21, are 'supportive'.
'My wife has visited the hospital and she understands that there are patients here who need our help.'
Mr Seah is one of two new members to the committee appointed by the chairman. The other is Mr Tan Huay Lim, 52, a partner and head of IPO services at auditing firm KPMG.
Unlike Mr Seah, Mr Tan knew of Ren Ci's troubles when Mr Chua, the chairman, approached him last year.
Mr Tan said: 'It was a challenging task, but I was ready to help for a good cause.'
The hospital's management committee met reporters yesterday, two days after the former head of Ren Ci Hospital, Shi Ming Yi, 46, was charged in court with 10 counts, including forgery, misappropriation of funds and conspiracy to give false information to the Commissioner of Charities.
Since last September, Mr Chua and the other 17 members of the management committee have come up with stricter procedures to strengthen governance.
Now, a cheque must be signed by two groups of people instead of by two persons previously. All staff members must declare gifts and donations. The chairman and CEO will have to be evaluated by the rest of the management committee.
Whistle-blowers may also approach committee members with tip-offs.
Mr Chua revealed that donations to the charity have plummeted.
This is because the popular Ren Ci charity show, which brought in more than $7 million in donations per show for the past two years, was stopped while the probe was underway.
Some donors who give money by Giro, which automatically deducts money from their bank accounts, have also pulled out. The committee has since used more than $1 million of their reserves as a result.
Mr Chua said their priority now is to restore public confidence. 'We still have a team of dedicated staff members and volunteers who believe in doing their best for the patients. No staff member has been retrenched and no volunteer has asked to leave. We will all continue to work hard.'
--------------------------------------------------------------------------------
DONATIONS DIP
TOTAL DONATIONS
From Dec 2006 to June 2007: $9.6 million
From Dec 2007 to June 2008: $1.1 million
MONTHLY GIRO DONATIONS
Before probe: $62,000
Now: $54,000
Amount needed for new hospital at Irrawaddy Road: $42.4m
Health Ministry's grant: $21m
Amount raised so far: $12.1m
Shortfall: $9.3 million
