AFTER Income, FIVE COMPANIES WORKED TO MAKE PROFIT
An applicant may have held the position of chief executive of a business for at least three years in order to meet the requirements for personal business services to become President. The business must have made a profit after taxes for the entire period and, on average, have shareholders’ equity of at least S$ 500 million( US$ 372 million ). & nbsp,
Analysts had stated that it was uncertain whether Mr. Goh would meet these requirements, but he could rely on the private sector’s” deliberative track,” also known as Article 19 ( 4 )( b ) of the Constitution.
According to this track, the candidate must have held a position for three or more years in opportunistic business, have the experience and skills necessary to be” comparable” to those of someone who has held the position of CEO of” typical company” with at least the required amount of shareholders’ equity, and be able to effectively carry out the President’s responsibilities.
According to Mr. Goh, I have a group of five companies with an ordinary shareholder equity of$ 507 million over the course of three years, or S$ 1.521 billion. & nbsp,
When investigators pressed him, he refused to give the names of the businesses. & nbsp,
For the past three decades, all five have been successful annually. The presidential candidate continued,” I am the senior executive in each of these businesses. & nbsp,
In a subtly ironic jab at other presidential hopeful and past GIC chief investment officer Mr. Ng Kok Song, Mr Goh made reference to the issue of being the most senior executive in each company by stating that” you may be number two” in the company.
He continued,” If I’m the CIO( chief investment officer ) in my private business organization, please don’t come forth because I most likely rank number five or number six in the organization.” He added that the president is ranked first, then the assistant chairman, chief executive officer, and chief financial officer.
Mr. Goh demonstrated in advertising materials that the five companies collectively made profits for each of the previous three years, though he did not specify how much income the combined businesses made annually. & nbsp, Over the course of three years, the five companies collectively earned S$ 377 million in profit. & nbsp,
You must have faith in me because I am now being honest with the number. This number is identical, he claimed.
The company name missing and which company made how much are the only things( that I ) don’t have. I’ve now told you that all of the businesses are successful. And you must have faith in me. I never say anything that goes against the tenet. I’ll tell you right away if it’s not making a income:”& nbsp,
Along with formal confirmation words of his visit in the businesses, a more thorough set of accounts had been submitted to the PEC. & nbsp,
On his web, Mr. Goh claims to be the leader and group chairman of ITG International, a company that develops real estate, as well as the director and founder of Harvey Norman Ossia. & nbsp,
He previously served as the head of international operations at the sporting goods company Rebel Sport, the founder and director of VGO Corporation( famous for the World of Sports stores ), the creator and director of United Envirotech, a company of water therapy solutions, and the owner and president of the house account manager SGL Capital Investment Management.