August 5, 2021

16 thoughts on “Rolf’s Thoughts: Keppel (the son), Hoping for Temasek (the father) ‘s Partial Offer?

  1. When gahmen or temasek bail out the people or GLCs, remember that they are using taxpayer money & national reserves. Sometimes it is necessary for survival during very bad situation, and hopefully can survive and recover.

    But sometimes it is throwing good money after bad, especially if the company or industry has structural decline and becoming irrelevant or obsolescence. Maybe not today or next year, but 10-20 years later.

    So govt will need to think & analyse for how long any GLC can remain relevant and strategic for Singapore, and how much reserves or taxpayer money to use up.

    1. Hi, thanks for the wise comments. I agree that the govt will need to think & analyse for how long any GLC can remain relevant and strategic for Singapore, and how much reserves or taxpayer money to use up.

      Perhaps something to think about.

      Let’s say you are a father, one day your son meet with a crisis. Have you think about how you are going to help him?

      How about those sons whose father is incapable financially to help their kid?

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    1. Hi FC, haha where’s the brolf?
      I dodge your question of Keppel and SCM.

      Instead, since I read the bible many times, and I will write a separate article about the prodigal son and it’s relevance in managing.

      The prodigal son acknowledges his mistakes and truly repent! He humbled himself after realizing his mistakes!

      Humility is the essence of repentance and improvement.

      Is this common in the higher ups of Sg? Most ceo of successful companies don’t over think highly about themselves.

      The let the clever people use their creativity and ability to work wonders for the company.

      Again, is this common in local scene? Or the hierarchy is such that the higher ups is always correct for most times?

  2. Have you considered that if your kids do not step out of Singapore that they will forever be in the Father-Son dependency syndrome as you had described?

    Maybe the size of our country and our market deems necessary this dependency (for success or whatsoever).

    1. Hi, before I answer you, may I courteously ask you back a relevant question.

      If you are a parent now(or one day), and if you child is of mature age one day, do you want him / her to have exposure both inside and outside Sg or just within Sg?

      May you can find my answers in this question.

      Answering to your second comments? On what basis, do you think that the size of a country demands dependency? What references of countries comparison are you making? Or based on which historical data are you basing your comments?

      Are you exposed to other smaller countries in the world, where you can find data to compare?

      Personally I think at which stage of the country is at, demands dependency is more relevant.

      For eg when a child is still not in adulthood, this is the stage where he/she requires dependency and lots of guidance.

      But once the child has enter the stage of adulthood and matured, he/she needs to be responsible for his/her action, and can no longer behave like a baby or child who still need milk.

      So my question back to you : do you think Sg is at a stage where we still drink milk or adulthood?

      I am trying to be rude or arrogant. I am just trying to let us think more!

  3. What if the Father has set up a large Private Trust providing lasting income for next few generations and more? Still no good?

    1. Of course Good lah.

      i just discovered Rolex the Billion Dollar company belongs to no one until today because the founder had no children, he put Rolex in to a permanent TRUST.

      Now who are all the beneficiaries?

      And without owners only trustees, how the then company booms and booms?

      Strange isn't it?

      Because with owners, Rolex may have gone bankrupt because of GREED.

    2. What if the Father has set up a large Private Trust providing lasting income for next few generations and more? Still no good?

      Hi CW, the larger the Father’s Trust meaning the longer or more hardwork had put in prior to that. 前人种树后人乘凉!

      It reminds me of my ex boss (whom I love n respected v much n who is also the one who baptize me), who passed away early leaving behind hundreds of millions to his 3 kids.

      I catch up with the elder son regularly. He does not seems as happy as you will like to think he is to be, if you were him.

      He is in fact quite frustrated that he cannot carve out his own, or have the free-will to do the things he truly like when he was younger. He envy his friends who are regular graduate, finding a job, and talk about their career.

      He always wanted to be in financial services since young, but because of the Dad and his Dad’s business, he had to enter the university course his Dad wanted him to enter. After graduate, he has to manage his dad’s business which for many years, he seems ok, but I never able to see the true joy from his face.

      But when he talk about financial related staffs, he is so joyful.

      So to you, if you inherit your Father’s trust you will be very happy or feels good, but the reality is, we have not have that experience before.. prior to saying it is good.

      Joy, wisdom and knowledge is something you cannot buy just with money. Happiness which is short term and circumstantial dependence, you can buy with money.

      And stupidity and arrogant fool can erode the Father’s trust faster than you think. You may think it can last for many generations, but a fool can squander it in no time!

  4. Better to teach people how to fish rather than give them the fish, even if it means letting them make some mistakes!

  5. Hi Temperament,

    Thanks for the info about Rolex! It’s amazing right that a company without owners can boom and boom and continue its heritage and creativity and longetivity!

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