The media can be really scary. And misleading.

The last time the press reported on AIG top executives going to St Regis Californian resort to splurge, it stirred everyone and many criticised on how AIG can be using the US$85 billion loan from The Fed for such extravagence. And in actual fact, this was a retreat for AIG's top agents, already promised prior to the whole saga. These are agents who have brought in big businesses for AIG and this retreat is their reward. It is very common for insurance companies to reward their top agents through retreats or conventions. Unfortunately, the press hyped this up negatively.

Then comes yesterday, where the press announced that The Fed has to loan AIG another US$40 billion, and AIG oweing The Fed US$150 billion now. This is absolutely inaccurate too. In fact, the Fed has purchased US$40 billion of AIG shares/equities. And now, what AIG owes the Fed is US$60 billion, to be paid over 5 years instead of the initial 3 years stated. The interest rate on the loan was also reduced by quite a bit. In short, basically AIG is sound, if not more sound than most financial institutions.

Although AIG reported the Q3 results with a US$24 billion loss, AIU reports is US$100 million profit. AIU is under AIG and AHAC is a branch operation under AIU in New York. With AIG's Q3 results released and on The Fed purchasing US$40 billion of AIG shares, AIG's shares actually went up. In fact, the market seems to be receptive or optimistic to this news.

And well, just to share, AHAC in Singapore, as at Q3, our Capital Adequacy Ratio stands at 174%, compared to MAS' 120% requirement. So, well, I gonna reiterate once more, it's Business-As-Usual here in AHAC Singapore.

So, to my dear friends out there, need not be too worried about me. I still have a job amidst this whole chaotic financial crisis affecting the globe. My only wish is, the media or press should just stop misleading the public. Now, with all the bad press, our annual Dinner & Dance will probably be cancelled. Not because we can't pay for it, but more of not knowing what or how the media gonna speculate this event. Boohoo.