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07-05-2014, 11:00 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
Today's newspapers reported that Singtel was fined a record $6million for the Bt Panjang Exchange fire last October 9th.
IDA says the fines collected, totalling $6.5million (the balance from two partners due to collateral damage) will go to a fund that gives low-income families financial assistance in accessing the internet. This is truly a very hypocritical manner of handling the situation by the IDA.
Question:
Was the fine deliberately set high to give the fund a roaring start? Shouldn't there be a separate budget which is allocated for this exercise, instead of depending on the telcos' cock-ups to raise fund?
Since the directors and the management were not penalised, one can only conclude that the $6million in fact will come from reduced profits earnings in the next report?
Truly uniquely Singapore!
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?181085-IDA-claims-credit-for-charity-from-Singtel-shareholders&goto=newpost).
Today's newspapers reported that Singtel was fined a record $6million for the Bt Panjang Exchange fire last October 9th.
IDA says the fines collected, totalling $6.5million (the balance from two partners due to collateral damage) will go to a fund that gives low-income families financial assistance in accessing the internet. This is truly a very hypocritical manner of handling the situation by the IDA.
Question:
Was the fine deliberately set high to give the fund a roaring start? Shouldn't there be a separate budget which is allocated for this exercise, instead of depending on the telcos' cock-ups to raise fund?
Since the directors and the management were not penalised, one can only conclude that the $6million in fact will come from reduced profits earnings in the next report?
Truly uniquely Singapore!
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?181085-IDA-claims-credit-for-charity-from-Singtel-shareholders&goto=newpost).