A TALE OF 2 NATIONS: SINGAPORE VS MALAYSIA – HSIEN LOONG BANS GOLDMAN BANKER FOR 10 YEARS, NAJIB LETS OFF 1MDB CO-CONSPIRATORS TANG & LOO

Singapore Versus Malaysia, You Choose To Be What You Want To Be

CASE NO 1 : SINGAPORE STYLE

March 13, 2017
  • MAS slaps Goldman banker with prohibition for 1MDB breaches 
  • issues POs against three others
S’PORE – Monetary Authority of Singapore (MAS) announced 10-year prohibition order against Tim Leissner, director of Goldman Sachs with immediate effect.
  • will not tolerate undermining trust, confidence in Spore’s financial system
  • imperative that reps of financial institutions are fit and proper persons
  • must be worthy of trust people place in them and their institutions
Leissner prohibited from regulated activity under Securities Act 
and management of any capital market services firm in Singapore
MAS prohibition order against 3 individuals on 1MDB-related matters
3 are Jens Sturzenegger of Falcon Private Bank
Yak Yew Chee and Yvonne Seah Yew Foong of BSI Bank
gravity of misconduct
lifetime prohibition against Sturzenegger and Yak
15-year prohibition order against Seah.
prohibited from providing any financial advisory service 
management, director of, shareholder of, licensed financial adviser 

CASE NO. 2 MALAYSIAN STYLE 
KL March 8 
Two 1MDB execs wanted by (BNM) removed from watch list, Najib said

central bank issued an alert for Tang and Loo in July 2015
Tang was 1MDB’s ED for three years until March 2011 

Loo his successor,  in charge of 1MDB’s group strategy.

Najib said Casey Tang, Jasmine Loo no longer wanted 

authorities completed investigations 
action against company they worked for instead
Najib said BNM issued compound letter to 1MDB 
Najib added 1MDB paid compound

My comments : Not only Singapore as a nation and its economy but also every individual Singaporean becomes more relevant in the world that we live in.  This is a nation that has already pulled forward. And they have much farther to go.

http://syedsoutsidethebox.blogspot.my/

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