GMT20260429-095639_Recording_1920x1040
May 07, 2026 01:44
· 2:10:00
· English
· Whisper Turbo
· 8 Redner
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8:09
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Norris. Eh, you better untick the ARC one eh.
8:16
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's ARC.
8:18
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Ah, on 6th of May.
8:21
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay.
8:23
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Can ah?
8:24
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Otherwise you'll have this problem.
8:26
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Thank you. I made you host, ah?
8:30
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I made you host, ah?
8:33
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Me or James or two friends?
8:36
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
James never come in.
8:38
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Where are you?
8:41
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Are you host? I'm the host.
8:43
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, then I blow.
8:45
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, bye. I can't see you lah.
8:49
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Bye. Bye.
10:03
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I want to make
10:17
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
my background. I want to make my background.
10:19
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I want to make my background.
10:22
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I want to make my background. I want to make my background.
10:24
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I want to make my background. I want to make my background.
10:26
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I want to make my background.
10:50
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Then, your PDF, your message from...
10:53
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
You can open it.
10:54
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I think you need to do something.
11:00
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I'm going to open it.
11:03
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
You
11:13
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
can see it. It's stopped.
11:16
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's just to remove the protection.
11:21
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Remove
11:32
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
protection. Yeah, it's not all.
11:35
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
You can see it.
11:39
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I want to open it. You should open it.
11:42
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I don't need to open it.
11:45
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I don't need to open it.
11:47
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I don't need to open it.
11:48
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I don't need to open it.
11:50
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I don't need to open it. I don't need to open it.
11:52
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
If you want to open it, you might need to open it.
11:56
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I don't need
12:09
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
to open it. I don't need to open it.
12:11
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Then, you are a co -host.
12:15
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So now you will share.
12:26
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Eh? It's
12:41
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
not like this. Oh, it's not like this.
12:43
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, it's like this. So now you're going to open the window.
12:46
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, that's fine.
12:48
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
They're not going to go down there.
12:50
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
If you're like this, then you go to another place.
12:54
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
They will stop at this page.
12:56
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I mean, you're going to go down there, it's going to see it.
12:59
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
You're going to see it outside.
13:01
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Once you're going down there, it's just going to see it.
13:03
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
The last one.
13:05
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, it's going to move.
13:15
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Hello Hello Hello Hello Hello Hello Hello Hello Hello
14:08
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I'm going to go for a little bit.
14:10
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I'm going to go for you first.
14:12
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
If you don't have a person, you can go for it.
14:14
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Because it's not the first one.
14:16
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's the third one.
14:19
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's the third one. It's the third one.
14:20
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay. Can you go for it?
14:23
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yes, I just said it.
14:25
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Thank you.
15:15
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Wait, can you come over here? Wait, wait, wait, wait.
21:09
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Speaker 6 (GMT20260429-095639_Recording_1920x1040)
Thank you.
22:14
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Jenny, do you hear me?
22:17
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Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Do you hear me?
22:20
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Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Do you hear me? Do you hear me?
22:22
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Do you hear me? Do you hear me?
22:25
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Do you hear me?
22:26
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Do you hear me?
22:28
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Speaker 5 (GMT20260429-095639_Recording_1920x1040)
Do you hear me? Do you hear me?
22:31
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
Do you hear me? Do you hear me? Do you hear me?
22:32
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Do you hear me? Do you hear me? Do you hear me?
22:34
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I can hear you. Just a little slow.
22:35
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Speaker 3 (GMT20260429-095639_Recording_1920x1040)
It's slow. It's slow.
22:37
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
It's slow. It's slow.
22:39
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
It's slow. It's slow.
22:40
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's slow. It's slow. It's slow.
22:41
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's slow. It's slow.
22:43
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Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Why are you good? Why are you good?
25:17
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Is this better?
25:18
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay,
25:31
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
is this better? Yeah.
25:37
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, you can go.
25:41
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay. Yeah, you want to listen also can, you want to go also can.
25:46
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Can you hear me? Can you hear me?
25:48
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Oh, so I'll number which one.
25:51
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah.
25:52
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay.
25:58
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
No, I didn't see.
26:02
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, it's okay. Yeah.
26:03
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's okay.
26:08
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's
26:21
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
okay.
26:28
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
He say he okay to say 50 -50.
26:30
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
He say first one, then we say.
26:32
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
But then we want 1 ,000 mao, right?
26:34
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
1 ,000 is a 50 -50.
26:37
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay.
26:40
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So you must make sure you do that with him.
26:42
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay.
28:14
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Want to admit, Simon?
30:05
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
hello hello
33:17
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
hello hello simon okay
33:25
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
okay
35:05
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Strictly speaking, we are 6 .31 already, right?
35:07
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Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Yeah.
35:12
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So we wait for a few more minutes.
35:14
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So now only Simon and myself, right?
35:17
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Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Simon,
35:39
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
you're also dialing in from the office or home.
35:42
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Oh, no.
35:43
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Dialing from home.
35:45
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay. So at least he managed to get back early.
35:48
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yes, yes. Hopefully you've had a bite already.
35:51
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Not yet. I'm giving you full confidence that you will be able to manage the time well.
35:57
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay.
35:59
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
We will keep it short and short.
36:01
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
That's nice.
36:02
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Thank you. But first, we need the rest to come.
36:07
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Dr.
36:11
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Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Sunil is here. And
36:19
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
he is clearly still in his scrubs.
36:21
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So he is...
36:24
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Hi, hi, everyone.
36:25
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Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Jenny's
36:47
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
really speaking. What is the quorum?
36:48
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Three, is it?
36:53
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I think that is enough.
36:54
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Only three right?
37:02
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah. Wait for one more.
37:06
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah. We wait for a few more minutes.
37:08
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I thought Amba needs to go off early so he
37:16
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
would want to start his agenda item first, right?
37:19
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yes, correct.
37:20
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Change the line.
37:27
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So if we're not doing it, can you say that she'll be a bit late?
37:34
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Oh yeah, I think I saw the email.
37:36
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So now only Dr.
37:39
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Amba, cut down so then we can start.
37:41
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah, and Mr.
37:43
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Tan Su Ho. Okay.
40:10
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah, I think we'll start in a couple of minutes if the ambassador still doesn't join in.
40:14
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
We'll start with the rest of the other topics first.
40:16
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Given that I'm rushing against the dinner time, I would like to start relatively soon.
40:23
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Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Okay,
41:44
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
given that it's 6 .38 now, I suggest we go ahead and kickstart Simon, Sunil, if you're okay.
41:53
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah, so I believe, Gary, we have quorum, right?
41:57
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I think it's three for the meeting to comment, if I'm not wrong.
42:02
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
And I'm quite sure the rest will join in.
42:06
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So we start with, first, I would like to acknowledge my appreciation to the Finance
42:14
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Committee. In the period that I was away on leave of absence,
42:21
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I'd like to acknowledge my gratitude for the committee that has progressed and continued with the good work.
42:26
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I also want to acknowledge Philip Ling, who has been quite gracious and helpful VP to step in and cover me for the
42:34
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
period that I was away. So Secretary, please record my appreciation to the committee, but in particular
42:42
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
to VP Philip Ling for stepping in during this period.
42:46
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So thank you very much.
42:52
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
No further ado, let's kick off with the agenda for today.
42:57
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
We have quite a number of items to run through.
43:00
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So let's quickly try to do it and keep it to within the 90 minutes maximum.
43:04
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
First item, confirmation of minutes.
43:07
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Have we had our comments in already?
43:10
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I trust everybody has a chance to look at it.
43:17
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I cannot comment because I wasn't at the meeting, but I've taken a look at the minutes already.
43:21
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So if there's no comments, can we take it?
43:23
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
It's been confirmed.
43:24
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Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Okay.
43:29
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
yes chairman okay let's see how you're in welcome yeah sorry
43:37
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
no no problem yeah we we started ready okay good so let's move on to item number two matters arising uh
43:45
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
who is going to take us through the items okay uh can you hear me yeah yeah
44:03
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, I think Chairman allowed me to first do the AML.
44:07
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Amba, are you in?
44:08
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
He's not in, right?
44:11
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
That's why I didn't do the AML.
44:12
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, okay, sorry.
44:13
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I lost my audio there just for a while.
44:16
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, I think you want to do the AML.
44:19
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Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, I kind of...
44:21
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Jenny circulated the AML document.
44:23
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
But you want to wait for Amba to come in first before we start the AML?
44:27
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Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So we can do the AML once you come in, no problem.
44:31
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay. Yeah, so you can do the Metals Arising first.
44:33
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
And when Amba comes in, then we start the AML because he's the one that is driving this, right?
44:39
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, correct. So it's in communication.
44:42
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah. So let's do the Metals Arising.
44:45
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So when he comes in, then we switch over to the AML.
44:47
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
No problem. Okay. Okay.
44:53
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
What is the next Metals Arising?
44:55
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Do we want to do a sculpt shot first?
45:00
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
uh can we do the scout shop first so that uh i think yeah pulling up uh ahead of the agenda so that uh the scout shop uh supervisor
45:08
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
can leave after uh after presenting okay yeah the presenting
45:16
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
okay yeah hello yeah so uh here is
45:24
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
the scout shop year ends uh cost summary okay so we are at
45:32
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So total of the positive waivers, right, we're at 4 ,000 plus.
45:35
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So for the negative part, we are at 3 ,200 plus.
45:40
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So for the net waivers, right, we are at 757 .33, 893.
45:48
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So when I zoom in to see what is the most, the department is the uniform.
45:55
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So for the uniform, right, we have 3 ,451 plus.
46:02
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So, James can make the speech.
46:04
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Maybe I can make the next speech to share more.
46:10
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So for the belt, right?
46:11
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I realized that we have a lot of damaged items that is not moved to the damaged location.
46:18
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
It's still in our poor system.
46:19
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So this might be when I stock count, right?
46:23
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I will be stock count together with the damaged item together with the physical item together.
46:28
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So...
46:29
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I recommend that we can open a new location that move this item to the damaged items.
46:36
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So when we see the stock, we can see the difference.
46:39
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
And those shirts also.
46:41
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Then the second thing that zoom in is the certificate.
46:45
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Since 2024, when they counted, it's already zero.
46:49
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
In 2025, we counted also it's zero.
46:51
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So this one, maybe we can remove the item from our system also.
46:58
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Then the other one is the sleeping bag.
47:00
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So we found out that the sleeping bag in our campsite got damaged.
47:03
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So we have already removed it.
47:09
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
But the thought systems do not mind us yet.
47:11
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So any questions for this?
47:18
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Now I will go to the next part to see.
47:21
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I think the certificate and the sleeping bag.
47:26
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I think the certificate and the sleeping bag.
47:32
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
That one I think is fairly straightforward.
47:34
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I think it's quite obvious.
47:35
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So that one I think I'm quite okay to remove.
47:38
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
But can you clarify a little bit around the uniform?
47:41
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
What actually happened there?
47:43
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So do we still have a whole list of damaged items in the POS?
47:48
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yes.
47:54
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So this POS system quantity when you see is 217.
47:58
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
But inside actually mixed with...
48:00
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Those items that are damaged and those items are good to sell also.
48:05
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So they never separate in two locations.
48:08
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
They should separate in two locations because some of the belt in the store is already peeled already.
48:13
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So these items we cannot sell to customers anymore.
48:17
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So I think he should move to a damaged location so we can see the difference.
48:22
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Because previously they don't have a location called like damaged or defect location.
48:31
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So I recommend that we can open a location called maybe defect or damage location so we can move those items that
48:39
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
damage to the location.
48:41
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So the damage items are disposed or returned back to the supplier.
48:48
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So the item is supposed to return back to the supplier?
48:51
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, it means when the supplier, sometimes we receive the stock after we check in, right?
48:56
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So the supplier actually give us the items that we place, but we never return back the stock to the supplier.
49:03
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So when the time 2025, when I count, everything I count is set together.
49:08
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So come out, the item is 362.
49:12
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, so I suggest we do a one -time cleanup.
49:15
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Just clarify exactly what.
49:24
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
what are the items that should be disposed okay then i think there's a proper process to just dispose all items clean it up for once then
49:33
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
gary i suggest you have a look at the process to make sure that if there's a items that is damaged or whatever there's
49:41
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
a proper way to account for it otherwise it just accumulates over time because
49:52
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
otherwise it just accumulates
49:53
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
a lot of time okay i think you are getting a lot of echo right yeah i have no idea why so wait okay
50:00
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Let me check, see what's happening.
50:01
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
I suspect you are sitting in the same office and we are probably quite close to each other.
50:05
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
That's why we hear the echo.
50:07
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
See what's happening. I suspect you are sitting in the same office and we are probably quite close to each other.
50:12
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
That's why we hear the echo.
50:13
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Actually, we are all separated quite far away.
50:17
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, Ken, we'll resolve it.
50:21
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, I think Colin is next to James and me.
50:26
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, I think Ken, we'll resolve it.
50:28
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
And whoever is not speaking, just put on mute.
50:31
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Easier, yeah.
50:33
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Okay, I think, yeah. And whoever is not speaking, just put it on the door easier, yeah.
50:38
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, just give us one minute to sort it out.
50:42
S…
Speaker 7 (GMT20260429-095639_Recording_1920x1040)
Okay, seems like sorted.
50:49
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
Thanks.
50:50
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, yeah, sorry, sorry about that.
50:53
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, yeah.
50:54
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I think Chairman's idea is actually, once and for all, we need to sort it out, and the damage goes to the damage pool, whereas those
51:02
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
that are still good to be sold should be currently under the stock list.
51:08
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
So there are two steps.
51:09
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
One is to just clean up the infantry.
51:12
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
So whatever that cannot be sold, just remove and write it off.
51:16
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Ideally, it shouldn't have any significant impact because the stock count that we have seems to be much lower than what is actual.
51:24
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
So that's the first part.
51:26
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
But the second part more important is going forward, there must be a process so that if the damaged item, there's a process.
51:31
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
proper way to treat it so that you don't have this issue going forward.
51:34
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Otherwise, every year you have this problem.
51:35
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
So if it's damaged, there must be a process to claim it back from the supplier.
51:39
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
If the supplier's issue, if you cannot claim it back, then there must be a proper process to just write it off so that it gets cleared on a
51:47
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
timely basis. Okay.
51:49
S…
Speaker 7 (GMT20260429-095639_Recording_1920x1040)
So Amba, you just wait a second.
51:55
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Let us finish this, then we will jump into the AML.
51:57
S…
Speaker 7 (GMT20260429-095639_Recording_1920x1040)
Yeah, sure.
52:00
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Thank you.
52:04
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Okay, so for the control area, like what
52:17
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
I say, I feel that we can open a location because sometimes when the stock, right, one year, we only come two times.
52:23
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
But when we sell half, we will QC the item that we will check.
52:28
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
But sometimes because it's the large.
52:31
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
the stock where a lot come then we only have two staff so we cannot like check everything on the spot so i wish i suggest to open a location
52:39
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
called defect so when we see if any defect we can move to there first we can park somewhere first so don't need to make together with
52:47
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
our current stock so when during stock day i know this of the item is is on defect it's not it's a not good condition
52:55
S…
Speaker 8 (GMT20260429-095639_Recording_1920x1040)
for selling
52:57
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
So secondly, also we continue our monthly cycle count to count those items that's high value and fast moving items to
53:05
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
ensure that our discrepancy for the year -end cycle count, for our year -end count.
53:11
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
So not so much discrepancy.
53:13
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
So now I'm thinking of one year if we do two times of orders, right?
53:19
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
When the orders come, right, the stock is too many.
53:22
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
It's very hard to see.
53:24
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
the uniform, the quality, is it good?
53:28
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Everything is good. Because we realize that if the stock can come like every two months or every month, like 200 pieces or
53:36
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
100 pieces, it's easy for the staff to count also.
53:38
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
To manage the things also.
53:41
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
So we can order like a small quantity than a large quantity amount to
53:49
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
improve our stock control.
53:50
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah.
53:52
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Because only two staff is a bit hard to count those like
53:56
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
One size thousand plus thousand five is a bit hard for us to count also.
54:00
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
And our storeroom also don't have so much space to put so many things also.
54:05
S…
Speaker 7 (GMT20260429-095639_Recording_1920x1040)
Any more slides?
54:11
S…
Speaker 7 (GMT20260429-095639_Recording_1920x1040)
Any more slides?
54:18
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
No more already.
54:19
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
I think for item one, I leave the lead to management for Gary Yor to come out with a proper process.
54:26
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
I think for item one, hang on.
54:28
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
I think I'm the one that has all the echo.
54:30
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Let me lock out and try to call in again.
54:34
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Hang on, just let me get out and then try to call in again
55:19
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
James, can you hear me?
55:20
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Yeah.
55:23
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
James, can you hear me?
55:31
S…
Speaker 7 (GMT20260429-095639_Recording_1920x1040)
Yes.
55:32
S…
Speaker 7 (GMT20260429-095639_Recording_1920x1040)
Yes. Is it better?
55:35
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Yes.
55:39
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
No more echo. I think it's better.
55:42
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Sorry, man. Y 'all didn't have enough of me.
55:45
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Might hear me twice. Okay.
55:47
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So I think for item one and two, I leave it to the management to propose to look at the details.
55:55
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Any comments from the committee on item three, four, and five?
56:00
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
My only issue around that is just make sure that the cost doesn't affect.
56:03
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So just be careful that it doesn't affect the cost and the process for the supplier.
56:09
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Any comments from any other members?
56:16
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Chairman, I agree that it makes sense from Pauline's recommendation to source for the items in
56:24
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
smaller quantities for easier so -called QC and count.
56:29
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
But I also do agree, need to confirm that the logistics cost perspective hasn't changed.
56:34
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah, because minimum bulk order and whatever it is, just make sure that it's okay.
56:45
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, if no other comments, I think Pauline, you all can go ahead.
56:49
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Just make sure that you confirm back that the process are finalized and then doesn't affect the costing or at
56:59
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
least no material impact to the costing.
57:01
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
Okay, any more comments?
57:08
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, thank you.
57:10
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Any other things to follow up?
57:12
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
That's it for the Scott Shop?
57:17
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
Okay.
57:19
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Okay, thank you.
57:27
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
Bye -bye. Thank you.
57:36
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
thank you thank you okay thanks pauline okay
57:44
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
gary you want to move to the aml yeah ken ken uh okay um i think uh anba do you want to take us through the aml or
57:52
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
you want me to do it yeah i think you can go away to gary you can start off and then i'll jump in
57:59
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, Ken. Okay, I think with the help of Anbar, I think Dr.
58:03
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Anbar, we had, I think it was a good document that we could actually base it off from.
58:09
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, so there are certain things that we added.
58:12
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Anbar guided the process in terms of what should be done by the ED, what should be done by the finance control
58:20
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
officer and so on.
58:21
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So, okay, it was all stated in the document.
58:26
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
okay just want to highlight a few things for the document right um always okay if anything does happen uh the treasurer as
58:34
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
well as the president uh uh first of all will be informed of the situation and to be discussed okay if it's seen as a
58:42
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
situation that uh it needs to the audit committee needs to be alerted then you'll be done so then the audit committee will uh will
58:50
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
take it on from there to have their discussion okay
58:54
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
If there is reporting to be done to the police and so on, it will be done in discussion with the president and the treasurer.
59:01
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Then after that, the committee will give the go ahead for the staff to make a report to the police.
59:08
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay. All right.
59:09
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
So basically we have three levels of three amounts that we look into.
59:14
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay. First, local.
59:16
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Local is broken up into two parts.
59:19
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Local for January for the HQ and donations to the group fund.
59:24
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay. And the third one is actually from overseas.
59:27
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
Okay.
59:28
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Our current FAP allows for overseas funds that do not need any scrutiny up to $50 ,000.
59:37
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay, that's the current FAP.
59:38
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
We are recommending with this document, recommending for it to be lowered to 10 ,000 Singapore dollars for any overseas funds
59:46
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
coming in. Okay, reason being that we don't get any overseas funds for more than 10 ,000, okay,
59:54
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
most of the time. That doesn't mean that we will not get in the future, but I think certainly...
1:00:00
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Some things are it could help us to trigger those that needs to be scrutinized.
1:00:04
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
The only thing that we would foresee that the overseas funds may be from WOSM, from our headquarters in KL.
1:00:12
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
So that is one possibility to fund some of the projects that may be going on.
1:00:17
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
That's for overseas.
1:00:20
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Then for the local ones, the two components are actually the donation to HQ and
1:00:28
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
donation to group fund. Why we kind of are suggesting that we do it separately is because sometimes group funds, yes,
1:00:36
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
it's within our SSA funds and management, but a lot of the group funds' jurisdiction is...
1:00:44
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
even as long as they can't spend within for scouting activities, it is always seen as acceptable.
1:00:51
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
We do allow it to happen.
1:00:54
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
So these are funds that actually units can use up to their own prerogative as long as it's for the
1:01:02
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
benefit of scouting. And sometimes we do get donations coming in and I think...
1:01:08
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
For us, when they donate into the group fund, I think because we don't have a total control over it, we think
1:01:16
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
that it's better to have a lower amount, which is $3 ,000.
1:01:19
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Okay, and for the donations to HQ itself, we do often get donations.
1:01:26
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Okay, not very often, but we do get donations of above $10 ,000.
1:01:30
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
But I think above $10 ,000 is a good trigger for us to find out who this person is donating to it.
1:01:37
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Most of the time, it's usually either President's friends or his acquaintance.
1:01:43
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Okay, maybe I just take any comments at this point in time.
1:01:49
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
A couple of quick questions for me first.
1:01:51
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
Your local funds, that means it's a local donor from local bank account, right?
1:01:56
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yes, correct.
1:01:57
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
And you're proposing to drop it to $10 ,000, is it?
1:02:00
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
No, okay.
1:02:01
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Local one, actually currently there's no limit.
1:02:04
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
Oh, so local there's no limit and you're proposing at $10 ,000.
1:02:09
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Yes, correct.
1:02:11
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
And that's because we also don't have a lot that is more than 10 ,000.
1:02:14
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Yes, correct.
1:02:16
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
Can you just clarify for me?
1:02:20
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
The AML, if it's a local donor from a local bank, is it still subject to AML
1:02:28
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
checks? Because my understanding is if it's a local bank account and a local
1:02:36
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
payee, it's actually not subject to AML checks.
1:02:40
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
Because the banks have cleared it already.
1:02:42
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
So you assume that whatever's in the local bank is already cleared.
1:02:45
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Okay.
1:02:47
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
According to the charities unit, right?
1:02:52
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Organizations or charities are expected to clear it one more time because then they know who the donor is
1:03:00
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
from. Okay.
1:03:02
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah, I know.
1:03:04
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay.
1:03:06
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
So who the donor is from, they would always want us to know where is the money coming from.
1:03:13
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Whether is it related to our organization or is it known to the organization or not.
1:03:22
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
So that is a little bit different from the actual strict requirements for us to do a duty on the donor.
1:03:28
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
So if you put 10 ,000 and all you need to do is just ask and make sure you have a full name, then I think that's okay.
1:03:33
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
But if it's 10 ,000 and we need to do the whole checks, then I think you need to be a bit more careful because
1:03:41
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
then the requirement that's imposed on us is quite strict.
1:03:44
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
So if there is no need to check, then just taking the name and understanding who is it, I think that's fine.
1:03:49
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
That's straightforward. But just because someone give us 10 ,000 and it's from a local bank, a local donor, but we have to do a world check, we got to go through
1:03:57
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
the whole process, then I think you need to be a bit more careful.
1:04:00
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
So just clarify which is which.
1:04:01
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
If you're just taking name, then I think it's fine.
1:04:03
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah. Okay.
1:04:05
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
I think it's not only taking names.
1:04:06
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Usually we do take in terms of IC number and address.
1:04:10
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
If the person wants a TDR, of course, IC number, all, everything, all needs to be noted down.
1:04:15
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah. Okay. Yeah.
1:04:17
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
But anything above 10 ,000, sometimes we are just, I think, being cautious.
1:04:23
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Okay. We do find out, we do try to do our due diligence for anything above the 10 ,000.
1:04:31
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
We will check.
1:04:32
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Who is it from? Okay, first thing, of course, we verify that it's from local bank.
1:04:36
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Who is it from?
1:04:37
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
How is it related to us?
1:04:39
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Is it by accident?
1:04:40
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Especially if the person don't contact us first off.
1:04:44
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
So we do that due diligence part.
1:04:46
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Ambar, anything else you want to join me?
1:04:54
S…
Speaker 6 (GMT20260429-095639_Recording_1920x1040)
Sorry Gary, I got locked out again.
1:05:00
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Is there anything important?
1:05:01
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
Yeah, okay.
1:05:04
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Chairman was asking about the due diligence part.
1:05:06
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
What do we need to do for amounts above 10 ,000 from a local bank?
1:05:10
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
His thoughts were that actually it was, since it's from a local bank, it should have been cleared in terms of AML and counter -terrorism
1:05:19
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
kind of thing.
1:05:20
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
So again, the recommendation for COC is that depending on the organization, right, if you feel that a particular amount that's coming in is out of the ordinary,
1:05:28
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
then it's a good practice to actually do a due diligence as well, regardless of whether it's from a local bank, whether it's been cleared or whatever.
1:05:34
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
So we are putting that in just as a stopgap measure.
1:05:37
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
We understand that there may not be too many coming in, but if something new comes in, I think it's a good practice for us to actually look to see where this funding is coming from and who this
1:05:45
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
person is. So we're putting it as a recommendation, but open for discussion.
1:05:50
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So my thoughts are this.
1:05:52
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
The recommendation is fine.
1:05:54
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
We can do the due diligence if it's a mile above whatever mile.
1:05:58
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
What I was trying to get to is what is actually the regulatory requirement for us in terms of
1:06:07
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
the checks we need to do.
1:06:09
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So if it's, for example, if it's a foreign donor, then we have to do a lot of work to go and
1:06:17
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
verify. And we cannot.
1:06:19
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So get around that.
1:06:21
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
But if it's a local bank, and the requirement that we do not need to do, under the regulation, we do not need to do the check.
1:06:28
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Then at least we are clear.
1:06:30
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
We don't need to do the check.
1:06:31
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Everything that we do is to satisfy its best practice.
1:06:35
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Then I think that's a lot easier for us to, at least we can be comforted to
1:06:43
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
know that everything we are doing is over and beyond what is required.
1:06:47
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Because if the regulation is not clear on that, it says that even the local banks, which we need to do, then we need to be quite prescriptive around what we need to do.
1:06:54
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Right.
1:06:55
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
So based on the current AML that's recommended, there is, again, like what Chairman said, there is no requirement
1:07:03
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
to do any sort of due diligence checks with the local bank here at this point.
1:07:08
S…
Speaker 4 (GMT20260429-095639_Recording_1920x1040)
But I think what we're putting here for that clause is to go beyond, over and beyond, in terms of good governance practice.
1:07:14
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Yeah. Yeah. Okay.
1:07:16
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Yeah, that was fair to clarify.
1:07:18
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So that's fine. Anyone else
1:07:26
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
got any other comments? Chairman, if I may say, I do appreciate the importance of
1:07:35
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
AML and having a policy in place.
1:07:38
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
But I would caution, I think you would probably have observed this as well, that we should not place unnecessary administrative burden
1:07:46
S…
Speaker 5 (GMT20260429-095639_Recording_1920x1040)
on the management on a day -to -day basis.
1:07:52
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So this one Gary, you all need to confirm the 3000 and 10,000 doesn't overwhelm you guys.
1:07:58
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah, okay. At this point in time, it doesn't.
1:08:00
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Unless our Singapore dollar becomes so small, then all the donations will be higher than that.
1:08:05
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
But at this point in time, it is a comfortable level that we do.
1:08:09
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
We are estimating maybe, I don't think it will be extensive checks because we don't usually get, over the past three to five years, we
1:08:17
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
don't usually get anything above those amounts for the group fund as well as donations to the organization.
1:08:25
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Then we need to work harder to find bigger donors.
1:08:28
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Yeah. And usually the bigger donors are already known to us so far than our experiences.
1:08:35
S…
Speaker 3 (GMT20260429-095639_Recording_1920x1040)
Okay.
1:08:42
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
Okay, good.
1:08:44
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
If we do, if we, okay, can we take it that the finance committee has agreed to this and we will adopt this
1:08:52
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
policy and moving forward, we will take this as our AML and counter -terrorism funding policy.
1:09:00
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I got one other comment.
1:09:02
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
Somewhere in, I'm trying to figure out where I read it.
1:09:07
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
It says that the FCO is the primary person responsible for the...
1:09:12
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
uh comp for the uh compliance is it i was trying to read where they are fine okay uh the ar person
1:09:21
S…
Speaker 1 (GMT20260429-095639_Recording_1920x1040)
is usually the fc uh fco is usually the ar person okay they will do the flagging hang
1:09:29
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
on i just got to be careful where your wording is okay uh i think it's five
1:09:39
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So your 4 .2 says they are the exact principal contact for AML related matters.
1:09:44
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
So that is fine.
1:09:45
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
There's a second para at the bottom that says that they are the main person.
1:09:50
S…
Speaker 2 (GMT20260429-095639_Recording_1920x1040)
I'm trying to figure out where I read it.
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