Thursday, June 07, 2007

Press Release - Responsibility and Social Repercussions of Escape of Ex-NKF Chairman Escape

NSP Press Release:
Wed, Jun 06, 2007

The National Solidarity Party (NSP) shares the frustration of the public over the NKF issue which has dragged on for more than a year. The high public expectation in extracting justice ended in the incredible jaw-dropping development where Richard Yong, a key player in the NKF saga, fluidly escaped the gazes of the authorities, and fled Singapore while owing a huge sum of public money to NKF whilst being declared a bankrupt.

We are outraged over how “a matter of hours” of lapse by the authorities has practically brought down 4 decades of efforts in cultivating a public spirit of spontaneous charity. The social repercussions from a collapse of public trust in institutions meant to safeguard their social interests are simply immeasurable.

It is a total disaster when a defaulter of public funds slips through the tight law-enforcement net without undergoing the due punishment. Every such ‘success’ story emboldens more law-breakers to test the authorities, and impose further duress on the security of the nation.

The repulsive event further deteriorates what remaining sense of generosity there was in Singaporeans when the NKF incident first came to light. It also inevitably erodes public confidence in the ability of the relevant authorities to execute their duties diligently and responsibly.

The lapse is all the more lamentable considering that the defaulter had a few months earlier divested his private properties for a personal gain of $7.5million, and attempted to dodge the authorities by not reporting his whereabouts. Despite the cues, the authorities had not taken tighter precautions.

The frivolous approach of the authorities is inexplicable, considering how the authorities have the track record of freezing assets of defendants in sensitive legal cases even before their convictions.

The incident has made a complete mockery of the nation’s proclamation of good governance, further strengthening the case for the need of checks and balances, and more transparency in matters of grave social concerns.

On behalf of the indignant public, the NSP would like to know what measures the authorities are going to take to satisfactorily remedy the situation, and recoup the public’s hard-earned money donated through an innocent sense of trust. The authorities owe the public a thorough and convincing explanation for the “extraordinary” oversight.

Until the necessary justice is administered, public cynicism will gain in strength to threaten the precarious social coherence. Together with Singaporeans, the NSP is keen to see an acceptable closure to the saga, and nothing less will do.

Central Executive Council
National Solidarity Party

End of Press Release

Edmund Ng
CEO, President
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