From the desk of SK..

MIBfc In Recession

Midway into 2009 MIBfc finds themselves in the red as failure to achieve a good financial position. It is to note that cash follow was generated with internal borrowing from a Bhai Agent. The Agent is believed to have financed the purchasing of new apparels for MIBfc. As sponsorships are hard to come by, MIBfc has its own measures of generating cash through its Agents’ contribution.


However due to unforeseen circumstances this fiscal plan has not produced encouraging results. It was reported that the amount owed to the creditor is in the region of £254.47 (SGD 610). However when compared to the debts of this humble club to those of the full fledged BPL teams, the amount owed looks almost negligible (see comparison chart below). One of the Agents over seeing the finance of MIBfc has urged fellow Agents in employment clear their dues and not leave it late to settle. A short term solution would be to increase the nominal contributions. A long term solution lies in revenue generation through organising events and tournaments. Due to budget limitations big investments plans have been not been drawn up. The current situation can also be attributed to the recent global recession that has hit the world.


This is the worst global recession in decades as the fallout of the most severe financial crisis since the Great Depression took a toll first on the U.S. and then--via a variety of channels--on the rest of the global economy. Commendable efforts have been taken by the Agents of MIBfc to cope with the current downturn. Studies show that other than the occasional 4D andToto, personal spending on gambling amongst Agents has plummet to an all time low. It is understood to be one Agent behind this drastic change. As a precautionary measure, the Agent’s family has been urged to submit his name to the list of banned personnel to the upcoming IR casinos. On the other hand, Agents with healthy cash reserves have been busy conjuring up investment proposals. One such Agent is looking into the prospect of owning a fleet of flat-top barges. This has opened speculation that in the near future MIBfc would be able to sail to nearby islands without having to pay hefty prices for the ferry services. If the talks reaches a conclusion soon, this change could be in place just in time before MIBfc departs for Batam in early August this year.


Agents in employment are not exactly living a blithe life. With lay-offs and retrenchment dominating the headlines almost every day, one such Agent has started looking for an alternative career path in practicing law. Sensing the security and the stability enjoyed many legal advisors, the Agent has enrolled himself with Stansfield College. In years to come MIBfc will boast its very own legal advisor.


It is also reported that Agents who are regular patrons at nightclubs have developed new habits of “topping-up” before making entry into the clubs. This is seen as a major cost-cutting for individuals as nightclubs such as Denim, charge ridiculous prices for in-house drinks. So much so that one such inebriated Agent has volunteered an 8-month self-imposed alcohol ban on himself just to tide over this crunch period. It is has seemed that some Agents have been scheming shallow tactics to obtain student prices at eatery outlets using their tertiary concession passes. However this finding has been vehemently disputed by the alleged. It will not be discussed further.


Recession has not spared the well-off either. Recently an Agent was spotted amidst the GSS crowd and nike warehouse sales trying to find a good bargain. It was noted that this particular agent resides in a luxurious landed property furnished with cable tv in every room, exclusively near the northern territories. This goes to tell how hard MIBfc has been hit by the global recession. Recession or no recession, there is always time for celebrations. Take for an instance the lavish wedding engagement of one of the Agents. One might argue the about the cost associated with such an event while others might brush it aside saying it’s a once in a life time event worth investing for. Whichever the stance is, it noteworthy that with careful financial planning and frugal spending, one is able to achieve his goals.


Come 1st August some of MIBfc Agents will be enjoying their reunion dinner with their alumni and old classmates of SJI. It is an event not to be missed by the graduating cohort of 1999. Analysts anticipate a full financial recovery by then.