Paul Lismore

The lowest form of popular culture- lack of information, misinformation, disinformation and a contemp for the truth or the reality of most people's lives - has overrun real journalism. Carl Bernstein

Lundi 9 Juillet 2018

The lowest form of popular culture- lack of information, misinformation, disinformation and a contemp for the truth or the reality of most people's lives - has overrun real journalism. Carl Bernstein
The headline in L'Express screamed "State Bank of Mauritius: le «pactole» de Kee Chong Li Li Kwong Wing", and this in itself would have drawn the attention of many people, including inevitably the trigger happy ones only too keen to see their names in the comments section of the newspapers, even when their 'opinions' betray ignorance and stupidity in equal measure.

Yes, a salary of Rs 5.9 millions for 2017, described as a 'bagatelle' by L'Express, is indeed a big one, as the nun would say to the bishop...Catholics and Christians will, I am sure, see the reference to nuns and bishops with a pinch of humour and are unlikely to feel that stick up their arses which in other cases would automatically trigger a reaction of Katolikophobe, the 'phobia' of choice of arseholes who believe that only their Gods matter... 

But I digress. Yes, Rs 5.9 millions in one year sounds like a huge amount, but only if it is not put in its proper context and the necessary comparisons are not made with the many individuals who receive much bigger amounts, but who somehow escape the notice of our "free and independent" press. Let us start with other big knobs in our banking sector. 

The MCB, the bank that traditionally likes to say "Yes!" to our 'free and independent' press, and where the current El Supremo of L'Express, Philippe Forget, was until recently its number two.

In 2013, Philippe forget received Rs 17.7 millions and I do not recall L'Express then screaming 'pactole' about that. Rs 17.7 millions in 2013 is ok presumably because la bank nou bann sa, but Rs 5.9 millions in 2017 is a 'pactole' because SBM is ban la sa?

Eoula! Of course, the immense profits made by the MCB do perhaps justify the huge salaries given to its senior staff and management. But, if it is ok for the MCB and considered as 'normal', why is it front page headlines for the SBM?

In 2013, Pierre Guy Noel, the CEO of the MCB received as salary Rs 21.9 millions...In 2017, the poor pet received Rs 25, 274,000 and that too was not considered to be a 'pactole'...

But let us forget about the MCB, in case some idiots turn this into a racist, blanc/non blanc nonsense, and instead let us look at the way our 'free and independent' press has been covering the State Bank of Mauritius.

Remember Muni T Reddy, the chap with a mediocre degree in Agriculture who somehow became became the chief of SBM in 1987 and who has been there ever since, on a salary and perks that defy common sense and any idea of propriety or decency?

He was the chap who made us pay at least 7 times the real value of a merchandise when he decamped the whole IT sector of the SBM to his motherland, India at a cost of Rs 7 billions.

Yes he was the genius who destroyed Mauritian jobs in the IT sector and transferred the whole shebang to Bangalore, when the MCB managed to do the whole thing for only Rs 1 billion...

Now, have you ever read anything of any value about Reddy in our 'free and independent' press?

Which is very surprising as the word 'pactole' was indeed invented for him. And he used to spend at least 6 months of every year outside Mauritius... In 2014, this is the salary package that the Bharat Bakri was earning from us, but it could be a lot higher as in our etat de droit, shit is always covered with huge turds...( For example, in 2013, he earned over Rs 70 millions...)
" Rs 33,3 millions annuellement par an
Du point de vue financier, Muni Krishna Reddy, ne pouvait se plaindre. En tant que Group Chairman de la SBMH, on lui avait offert un Service Contract selon lequel il devait intervenir dans les domaines de la bonne gouvernance, la gestion des risques et autres décisions stratégiques, entre autres. Pour ses prestations, il percevait une rémunération annuelle de Rs 33,3 millions, payable en avance chaque semestre......Ce contrat exclut, par ailleurs, les autres facilités qui lui étaient offertes : une maison, une voiture de fonction, ses frais de déplacements, ses frais médicaux et autres indemnités. Ces avantages auront fait de Reddy, l’un des hommes les mieux rémunérés du secteur bancaire mauricien." 

Yes, let us forget about the MCB and stick to SBM. Let me present you to a chap whose educational qualifications are apparently limited to a mediocre SC;  but he has a MBA to his credit...

Which rather confirms the opinion of many people that MBA really stands for Master of Bullshit Advocacy...

Anyway, this chap is Jairaj Sonoo,  the man who has spent 32 years at SBM and who was also the Chief Executive Officer of the Bramer Bank between 2010 and 2012 when he left to rejoin SBM as its CEO.  As CEO, Sonoo was being paid Rs 1.8million  PER MONTH and also benefited from 6 business class tickets to UK per year for him and his family, with chauffeur driven limousine thrown in.... and security guards at his home....

He is also the man who not only approved our lovely Wilko's the Euroloan when the latter wanted to impersonate Goldfinger on conditions that none of us could ever dream to obtain from any bank...but he also dished out millions of rupees to Wilko's son for some crap software, even well before the software had been installed....

Sonoo was also apparently involved in a fraudulent land transaction at Bagatelle just before the last elections where land belonging to Kailash Ruhee ( Chief of Staff sipaki LKSM dan gouvernman Ramgoolam....) and valued at Rs 6 millions an arpent was purchased by Sonoo on behalf of the SBM for Rs 15 millions an arpent.....Chuttur ka mou a ICAC p enkor etidier dossiers la..

Sonoo's contract at the SBM was not renewed last year and one wonders whether the selective coverage of banking matters by L'Express does not have as its origin the crap info being peddled by the Senior Grade 3 wallah...

Let us look at Kee Chong Li's achievements at SBM since he arrived there in mid 2015. When Reddy left the SBM in 2015,  

SBM profit after tax was Rs 1.6 billions
SBM profit in 2016 under Kee Chong Li : 2.3 billions. 
SBM profit in 2017 under Kee Chong Li:Rs 2.5 billions. 


Which makes it, by far, the most profitable firm in the public sector.

Et ban la p dire ki Rs 500 millions par moi pou tou sa rezilta la, ene 'pactole' sa?

I bet you our lovely press would have never misinformed the public like this if Kee Chong Li happened to belong to any other community which seems to find everything offensive and which apparently seems to be on 24 hour screaming mode.

After all our journalists do not mention much about Gerard Sanspeur's Rs 400,000+ per month salary + lots more in per diem etc, and all the full salary packages of other political nominees, do they?

Or the lapdog of the chihuahua in charge of the CWA and his huge salary...or chuttur ka ou in charge of ICAC who, in 2003, was getting as basic salary Rs 350,000 per month, so God knows how much he is taking from us now for servi nou pays and doing next to fuck all....or the Senior adviser of Prime Minister Berenger who was earning over Rs 350,000 + numerous baksheesh for attending all the boards he was nominated to in 2003-2005.

I am no friend of Kee Chong Li, but his results at the SBM in 2 years have shown that compared to the huge salaries that arseholes are taking from us, he should have perhaps received more...instead of the nasty references that ignorant zourlanus are very fond of making, often as a result of info provided by the corrupt and the real thieves. He has also made the SBM branch out successfully in African countries, whereas Afrasia had to pull out of Zimbabwe and the MCB, despite all its might, had to sell its Mozambique subsidiary to Societe General. 

And, let us be honest, he is 'fair game' because he belongs to our smallest ethnic group which, by and large, simply gets on with it instead of screaming all the time like the other ethnic groups regularly do.

Rédigé par Paul Lismore le Lundi 9 Juillet 2018

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