| TODAY July 18, 2005 SINGAPORE See Singapore's biggest charity probed over pay, perks scandal WRITING in her personal capacity, Ms Ho Ching, the CEO of Temasek Holdings, has asked for continued support for the National Kidney Foundation (NKF) which has come in for heavy criticism recently. Ms Ho argued that NKF's policy of building up strong reserves was sensible and responsible. "No one likes to have the dreadful responsibility of deciding which patients should live when money dries up in an economic downturn," she wrote. "What if 10 per cent or 20 per cent of their patients or their patients' breadwinners lose their jobs in an extended downturn? Surely, you hope to continue dialysis for them even if they cannot co-pay their part?" In a letter that touched on a wide range of issues raked up by the recent NKF saga, including the emotive one of the salary of its outgoing chief executive T T Durai, Ms Ho advised the NKF to consider building and managing its reserves as an endowment. On the issue of the CEO's pay, she said that even charities ought to be managed professionally. "I would not begrudge Mr Durai a proper and well-earned compensation and bonus," she wrote. At the same time, she acknowledged that "some of the things Mr Durai has allegedly done raise a questioning eyebrow or two". She also touched on the behaviour of the outgoing board, which had backed Mr Durai. "It is important that the board balance its support and guidance for its CEO with its fiduciary duty," she wrote. Meanwhile, Health Minister Khaw Boon Wan will deliver a ministerial statement on the NKF in Parliament this week. Several MPs have filed questions on the NKF. On Saturday, Senior Minister Goh Chok Tong gave Mr Khaw his stamp of approval. "I like the way Khaw Boon Wan is handling the issue," he said. He also touched on the statement that Mrs Goh, until recently an NKF patron, had made to the effect that Mr Durai's annual earnings of $600,000 were "peanuts". "When she told me what she had said, I told her: 'You're in trouble. There will be negative reactions.' The next day, Singaporeans reacted. They were quite critical of her remarks and it's understandable because the NKF is a charity. "(Singaporeans) do not earn that much money and surely they were upset by her remarks ... I received quite a few emails and letters, and to educate her, I showed her the letters and emails and she now understands better that what she said was not quite in order." He said Mrs Goh told him she had been thinking of the organisation and the fact that the right person must be paid the right wage. "But, of course, she didn't put it across that way and the rest is history," he said. |
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