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[h=1]Exposing dark inner workings of Phillip Securities (www.singaporescandal.com)[/h] October 24, 2016admin
70
I worked for Phillip Securities. From the eyes of the public, this company might seems like a very successful local SME that has grown to a multinational company. The public are unaware dark inner workings of this company.
Basic structure of the company (Phillip Futures, Phillip Capital and Phillip Securities)
The company was founded by the present Chairman Lim Wah Ming. He enlists the help of his four brothers, Lim Wah Lin, Lin Wah Sai and Lin Wah Tong, and finally Miss Teo who is in charge of discipline in the company. The structure of the company is different from a usual company structure where CEO or Managing Director makes all the important decisions where the Chairman of the company just take charge of annual general meetings with major shareholders. For Phillip Securities, it’s just one man show. The chairman, Lim Wah Ming runs the company, makes the important decisions. The Managing Director, Ho Yun Sun is just the front man for TV interview and might be the fall guy in the future, he is not involve in running the company. Mr Lim Wah Ming is smart and outstanding individual who is the only one contributing ideas and directives on running the company. Phillip Securities has the same philosophy as any local Chinese company. It saves money by paying peanuts to the staffs. Lim Wah Ming himself sets the benchmark on the highest pay by collecting a monthly salary of $10,000, meaning no one can collect more than him. Imagine a company where senior staffs like directors and HODs collecting less than $10,000 in the backdrop of foreign banks and financial institutions paying their mid level staffs $15,000 to $20,000. As a results, most of the staff belong top two categories, the fresh graduates and the industry rejects. Fresh graduates who cannot find jobs in foreign banks are forced to work in Philips Securities for two to three years gaining some experience before moving on to better paying jobs in foreign banks. Then we have the industry rejects, experienced staffs who left local or overseas banks and financial institutions who have no place to go except Philips Securities. As a results, most of staff including senior managements work like administrators instead of businessman trying out new ideas. All ideas came from Mr Lim Wah Ming himself and the rest of the staffs are just administrators receiving instructions and carry them out. Even directors like Lisa Lee and Jeffrey are consider to be able administrators instead of innovators and managers. Philips Futures is the only company in the group that offers some hope with a team that is motivated due to good leadership. It’s a classical example of a top-down approach in management. This model work well in the past decades but under the backdrop of innovation products and services offered by present financial service landscape, it will cause Philips Securities to decline rapidly once Mr Lim Wah Ming is taken out of the picture. One typical example was Proprietary Trading department set up by Mr Lim Wah Ming. Usual practice to hire the most experienced staff to handle the Proprietary Trading Department because of their experiences. Instead, Philips Securities hire fresh graduates at a low pay hoping that they will perform and make good profits to the company. In the end, the department was closed down due to losses incurred by these fresh graduates traders. Lim Wah Ming also deeply believed in Psychology warfare wage against employees to work hard for the company. He put in 100% effort in talking and engagement with employees encouraging them to work harder by making them believe they are working for a greater cause while they are still collecting peanuts for their salaries. This tactics might be working in the past, but it’s internet age and everyone including young people are well informed and working only for money and their self interests. It employs a little bit of prosperity gospel . As expected, staff turnover rate are usually high. If you have a bad experience with dealers at POEMS, because they are fresh graduates with little experience in customer service. There are lot of stories of Mr Lim Wah Lin being very prudent with finances where he travels by Tiger air where Phillip Securities staffs travelled by SIA. Does all these stories struck a chord with the employees? The answer is no. Someone who is well informed and being very prudent in finances does not make you a good boss and something gives the impression of being stingy. A lot of these old timers have this delusional self-righteous bullshits going on in their mind, believing that their cause is just and everyone (employees and clients) should cooperate in their quest to earn more money for themselves and leave peanuts for others. That will make them look real smart.
Lim Wah Tong
The youngest brother of Lim Wah Ming. One of the Executive Director in charge of B2B trading and other financial products. Totally useless in his job and manage to get and stay in this position just because of blood relation with Chairman. Extremely aggressive man who fired staff in a moment of anger, suffered from constant health problems like piles growing in his ass. Not willingly to make any important or operational decisions or responsibilities and tend to ask staff to check, double check or triple check before having the commitment to sign documents. If not the brother of Lim Wah Lin, most likely end up as a Taxi Driver.
Lim Wah Lin
The second brother of Chairman Lim Wah Ming. Executive Director in charge of operations. Quiet and an anti social personality. He’s even worse than Lim Wah Tong and definitely good for nothing douchebag. He’s even reported saying he plans to call the police to charge staffs for throwing away and wasting food. This is a typical way a rich man to behave, imposing his self righteous values on others and suffering from serious God complexity resulting him to be very judgemental. In private, waste money on his mistresses, cars and investments.” All the rules are only applicable to the average little guy on the street but not me because I am rich,” he once said. Always find ways and means to penalized average man for wasteful in order to highlight his moral superiority, There’s no moral high ground for this douchebag. It’s just a lame pretentious front and it’s damn ugly. I admire rich mens who admit that they are sinful, at least they are honest with themselves. Due to his strange and anti social appearances and manners. If not the elder brother of Lim Wah Lin, most likely end up as a security guard.
Lim Wah Sai
The third brother of Chairman Lim Wah Min. The most capable among the useless bunch of brothers. He took over Phillip Securities operations in Hong Kong hence, managed to turn the loss making company into profit. Gentle and well liked by his staffs. Prove to be most likeable among the douchebag brothers.
Miss Teo
The only Executive Director who is not related by blood to Chairman Lim Wah Ming. In charge of operations and HR matters. Struck fear to all the HODs and directors because of her micro-management style. There one HR director who resigned after 3 months because of humiliation treatment she suffered under Miss Teo. Miss Teo actually keep track of her going for toilet breaks and tea breaks. This director who worked for MNC was so shell shocked by Miss Teo’s micromanagement that she resigned after 3 months. Miss Teo is the one suppressing wages of newcomers and try to get the best bargain for the company. If Chairman is a shepherd handling a flock of sheep, Miss Teo is the shepherd dog that keeps everyone in line. Even guard dog have their own pets, Miss Teo have a mini pet name Melvin.
Melvin the dog
Melvin is the most colourful and useless character in Phillip Securities. A good for nothing gangster who is in charge of Remisters (Independent Dealers with their own customers base). A scumbag that enjoys to dishing out threats to staffs and harassing beautiful female remisters and staffs. There even a story where he threw a half eaten sweet he ate onto the face of a female staff who was asked to resigned. A true worthy scum who deserves the name dog. He will not able to attain the position if not for his master, Miss Teo who kept him in chains. He even cursed Chairman to an early grave during one of the management meeting. If not for Miss Teo’s backing, this scumbag only deserve a cell in Changi Chalet.
Criminal Activities of Philips Securities
There’s a lot of rumours due to the connections of Chairman with Singapore Business Community. He have insider information allowing him to profit handsomely in the stock market. The company is even able to work with alternative media and mainstream media to generate false news of impeding acquisitions. Buying in mass volume of shares in low prices, disseminating false information of acquisitions and sell the shares at a high prices, making hundreds of millions at one shot. Someone should highlight their criminal activities to MAS. Phillip Securities is making money out of the pockets of ordinary share investors like me and you. All the company traders make money by manipulating shares to Chinese companies to make huge amount of profits. To quell the thirst of profits, Phillip Securities sells information of clients to data trader companies that used them for marketing purposes. This data theft is a sizable business bringing in $20 million of tax free earnings to Philips Securities annually. There are plans in process of doing mobile apps installed by customers for trading purposes with hidden malwares or bugs to tag into personal messages, contacts and even audio phone conversations for the use of data analytics to determine the most suitable financial products to sell to each individual customers. To maximise profits, secondary customers’ mobile data are sold to data middleman for the use of selling consumer products like credit cards, luxury goods or health products. This are criminal activities which violate Singapore’s Consumer Personal Data Protection. Phillip Securities also serves as parking lots for secretive clients who bought huge amount of shares for acquisitions purposes, tax evasions and money laundering. They will hold these huge lots of shares on behalf of these secretive clients to prevent reverent authorities from identifying these clients. This activity is highly illegal. Phillip Securities is truly a criminal enterprise.
From
Anonymous
Phillp Capital Pte Ltd, PhillipCapital Pte Ltd, Phillip Securities, Phillip Futures, Phillip GEMS, Phillip Capital Management
[h=1]Exposing dark inner workings of Phillip Securities (www.singaporescandal.com)[/h] October 24, 2016admin
70
I worked for Phillip Securities. From the eyes of the public, this company might seems like a very successful local SME that has grown to a multinational company. The public are unaware dark inner workings of this company.
Basic structure of the company (Phillip Futures, Phillip Capital and Phillip Securities)
The company was founded by the present Chairman Lim Wah Ming. He enlists the help of his four brothers, Lim Wah Lin, Lin Wah Sai and Lin Wah Tong, and finally Miss Teo who is in charge of discipline in the company. The structure of the company is different from a usual company structure where CEO or Managing Director makes all the important decisions where the Chairman of the company just take charge of annual general meetings with major shareholders. For Phillip Securities, it’s just one man show. The chairman, Lim Wah Ming runs the company, makes the important decisions. The Managing Director, Ho Yun Sun is just the front man for TV interview and might be the fall guy in the future, he is not involve in running the company. Mr Lim Wah Ming is smart and outstanding individual who is the only one contributing ideas and directives on running the company. Phillip Securities has the same philosophy as any local Chinese company. It saves money by paying peanuts to the staffs. Lim Wah Ming himself sets the benchmark on the highest pay by collecting a monthly salary of $10,000, meaning no one can collect more than him. Imagine a company where senior staffs like directors and HODs collecting less than $10,000 in the backdrop of foreign banks and financial institutions paying their mid level staffs $15,000 to $20,000. As a results, most of the staff belong top two categories, the fresh graduates and the industry rejects. Fresh graduates who cannot find jobs in foreign banks are forced to work in Philips Securities for two to three years gaining some experience before moving on to better paying jobs in foreign banks. Then we have the industry rejects, experienced staffs who left local or overseas banks and financial institutions who have no place to go except Philips Securities. As a results, most of staff including senior managements work like administrators instead of businessman trying out new ideas. All ideas came from Mr Lim Wah Ming himself and the rest of the staffs are just administrators receiving instructions and carry them out. Even directors like Lisa Lee and Jeffrey are consider to be able administrators instead of innovators and managers. Philips Futures is the only company in the group that offers some hope with a team that is motivated due to good leadership. It’s a classical example of a top-down approach in management. This model work well in the past decades but under the backdrop of innovation products and services offered by present financial service landscape, it will cause Philips Securities to decline rapidly once Mr Lim Wah Ming is taken out of the picture. One typical example was Proprietary Trading department set up by Mr Lim Wah Ming. Usual practice to hire the most experienced staff to handle the Proprietary Trading Department because of their experiences. Instead, Philips Securities hire fresh graduates at a low pay hoping that they will perform and make good profits to the company. In the end, the department was closed down due to losses incurred by these fresh graduates traders. Lim Wah Ming also deeply believed in Psychology warfare wage against employees to work hard for the company. He put in 100% effort in talking and engagement with employees encouraging them to work harder by making them believe they are working for a greater cause while they are still collecting peanuts for their salaries. This tactics might be working in the past, but it’s internet age and everyone including young people are well informed and working only for money and their self interests. It employs a little bit of prosperity gospel . As expected, staff turnover rate are usually high. If you have a bad experience with dealers at POEMS, because they are fresh graduates with little experience in customer service. There are lot of stories of Mr Lim Wah Lin being very prudent with finances where he travels by Tiger air where Phillip Securities staffs travelled by SIA. Does all these stories struck a chord with the employees? The answer is no. Someone who is well informed and being very prudent in finances does not make you a good boss and something gives the impression of being stingy. A lot of these old timers have this delusional self-righteous bullshits going on in their mind, believing that their cause is just and everyone (employees and clients) should cooperate in their quest to earn more money for themselves and leave peanuts for others. That will make them look real smart.
Lim Wah Tong
The youngest brother of Lim Wah Ming. One of the Executive Director in charge of B2B trading and other financial products. Totally useless in his job and manage to get and stay in this position just because of blood relation with Chairman. Extremely aggressive man who fired staff in a moment of anger, suffered from constant health problems like piles growing in his ass. Not willingly to make any important or operational decisions or responsibilities and tend to ask staff to check, double check or triple check before having the commitment to sign documents. If not the brother of Lim Wah Lin, most likely end up as a Taxi Driver.
Lim Wah Lin
The second brother of Chairman Lim Wah Ming. Executive Director in charge of operations. Quiet and an anti social personality. He’s even worse than Lim Wah Tong and definitely good for nothing douchebag. He’s even reported saying he plans to call the police to charge staffs for throwing away and wasting food. This is a typical way a rich man to behave, imposing his self righteous values on others and suffering from serious God complexity resulting him to be very judgemental. In private, waste money on his mistresses, cars and investments.” All the rules are only applicable to the average little guy on the street but not me because I am rich,” he once said. Always find ways and means to penalized average man for wasteful in order to highlight his moral superiority, There’s no moral high ground for this douchebag. It’s just a lame pretentious front and it’s damn ugly. I admire rich mens who admit that they are sinful, at least they are honest with themselves. Due to his strange and anti social appearances and manners. If not the elder brother of Lim Wah Lin, most likely end up as a security guard.
Lim Wah Sai
The third brother of Chairman Lim Wah Min. The most capable among the useless bunch of brothers. He took over Phillip Securities operations in Hong Kong hence, managed to turn the loss making company into profit. Gentle and well liked by his staffs. Prove to be most likeable among the douchebag brothers.
Miss Teo
The only Executive Director who is not related by blood to Chairman Lim Wah Ming. In charge of operations and HR matters. Struck fear to all the HODs and directors because of her micro-management style. There one HR director who resigned after 3 months because of humiliation treatment she suffered under Miss Teo. Miss Teo actually keep track of her going for toilet breaks and tea breaks. This director who worked for MNC was so shell shocked by Miss Teo’s micromanagement that she resigned after 3 months. Miss Teo is the one suppressing wages of newcomers and try to get the best bargain for the company. If Chairman is a shepherd handling a flock of sheep, Miss Teo is the shepherd dog that keeps everyone in line. Even guard dog have their own pets, Miss Teo have a mini pet name Melvin.
Melvin the dog
Melvin is the most colourful and useless character in Phillip Securities. A good for nothing gangster who is in charge of Remisters (Independent Dealers with their own customers base). A scumbag that enjoys to dishing out threats to staffs and harassing beautiful female remisters and staffs. There even a story where he threw a half eaten sweet he ate onto the face of a female staff who was asked to resigned. A true worthy scum who deserves the name dog. He will not able to attain the position if not for his master, Miss Teo who kept him in chains. He even cursed Chairman to an early grave during one of the management meeting. If not for Miss Teo’s backing, this scumbag only deserve a cell in Changi Chalet.
Criminal Activities of Philips Securities
There’s a lot of rumours due to the connections of Chairman with Singapore Business Community. He have insider information allowing him to profit handsomely in the stock market. The company is even able to work with alternative media and mainstream media to generate false news of impeding acquisitions. Buying in mass volume of shares in low prices, disseminating false information of acquisitions and sell the shares at a high prices, making hundreds of millions at one shot. Someone should highlight their criminal activities to MAS. Phillip Securities is making money out of the pockets of ordinary share investors like me and you. All the company traders make money by manipulating shares to Chinese companies to make huge amount of profits. To quell the thirst of profits, Phillip Securities sells information of clients to data trader companies that used them for marketing purposes. This data theft is a sizable business bringing in $20 million of tax free earnings to Philips Securities annually. There are plans in process of doing mobile apps installed by customers for trading purposes with hidden malwares or bugs to tag into personal messages, contacts and even audio phone conversations for the use of data analytics to determine the most suitable financial products to sell to each individual customers. To maximise profits, secondary customers’ mobile data are sold to data middleman for the use of selling consumer products like credit cards, luxury goods or health products. This are criminal activities which violate Singapore’s Consumer Personal Data Protection. Phillip Securities also serves as parking lots for secretive clients who bought huge amount of shares for acquisitions purposes, tax evasions and money laundering. They will hold these huge lots of shares on behalf of these secretive clients to prevent reverent authorities from identifying these clients. This activity is highly illegal. Phillip Securities is truly a criminal enterprise.
From
Anonymous
Phillp Capital Pte Ltd, PhillipCapital Pte Ltd, Phillip Securities, Phillip Futures, Phillip GEMS, Phillip Capital Management
