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Modeling Anticipatory Event Transitions, He Qi, Kuiyu Chang, Ee Peng Lim Jan 2010

Modeling Anticipatory Event Transitions, He Qi, Kuiyu Chang, Ee Peng Lim

Research Collection School Of Computing and Information Systems

Major world events such as terrorist attacks, natural disasters, wars, etc. typically progress through various representative stages/states in time. For example, a volcano eruption could lead to earthquakes, tsunamis, aftershocks, evacuation, rescue efforts, international relief support, rebuilding, and resettlement, etc. By analyzing various types of catastrophical and historical events, we can derive corresponding event transition models to embed useful information at each state. The knowledge embedded in these models can be extremely valuable. For instance, a transition model of the 1918-1920 flu pandemic could be used for the planning and allocation of resources to decisively respond to future occurrences of …


Do Online Reviews Reflect A Product's True Perceived Quality? An Investigation Of Online Movie Reviews Across Cultures, Noi Sian Koh, Nan Hu, Eric K. Clemons Jan 2010

Do Online Reviews Reflect A Product's True Perceived Quality? An Investigation Of Online Movie Reviews Across Cultures, Noi Sian Koh, Nan Hu, Eric K. Clemons

Research Collection School Of Computing and Information Systems

When does the reported average of online ratings match perceived average assessment? We apply behavioral theory to capture intentions in rating online movie reviews in two dissimilar countries - China and the United States. We argue that consumers' rating behaviors are affected by cultural influences. Based on data collected from imdb.com and douban.com, we found significant differences across raters from these two different cultures. Additionally, we examined how cultural elements influence rating behavior for a hybrid culture - Singapore. Under-reporting bias occurs when consumers with extreme opinions are more likely to report their opinions than consumers with moderate reviews, resulting …


Dual Phase Learning For Large Scale Video Gait Recognition, Jialie Shen, Hwee Hwa Pang, Dacheng Tao, Xuelong Li Jan 2010

Dual Phase Learning For Large Scale Video Gait Recognition, Jialie Shen, Hwee Hwa Pang, Dacheng Tao, Xuelong Li

Research Collection School Of Computing and Information Systems

Accurate gait recognition from video is a complex process involving heterogenous features, and is still being developed actively. This article introduces a novel framework, called GC2F, for effective and efficient gait recognition and classification. Adopting a ”refinement-and-classification” principle, the framework comprises two components: 1) a classifier to generate advanced probabilistic features from low level gait parameters; and 2) a hidden classifier layer (based on multilayer perceptron neural network) to model the statistical properties of different subject classes. To validate our framework, we have conducted comprehensive experiments with a large test collection, and observed significant improvements in identification accuracy relative to …


Introducing Communication In Dis-Pomdps With Locality Of Interaction, Makoto Tasaki, Yuichi Yabu, Yuki Iwanari, Makoto Yokoo, Janusz Marecki, Pradeep Reddy Varakantham, Milind Tambe Jan 2010

Introducing Communication In Dis-Pomdps With Locality Of Interaction, Makoto Tasaki, Yuichi Yabu, Yuki Iwanari, Makoto Yokoo, Janusz Marecki, Pradeep Reddy Varakantham, Milind Tambe

Research Collection School Of Computing and Information Systems

The Networked Distributed POMDPs (ND-POMDPs) can model multiagent systems in uncertain domains and has begun to scale-up the number of agents. However, prior work in ND-POMDPs has failed to address communication. Without communication, the size of a local policy at each agent within the ND-POMDPs grows exponentially in the time horizon. To overcome this problem, we extend existing algorithms so that agents periodically communicate their observation and action histories with each other. After communication, agents can start from new synchronized belief state. Thus, we can avoid the exponential growth in the size of local policies at agents. Furthermore, we introduce …


Teleoph: A Secure Real-Time Teleophthalmology System, Yongdong Wu, Zhou Wei, Haixia Yao, Zhigang Zhao, Lek Heng Ngoh, Robert H. Deng, Shengsheng Yu Jan 2010

Teleoph: A Secure Real-Time Teleophthalmology System, Yongdong Wu, Zhou Wei, Haixia Yao, Zhigang Zhao, Lek Heng Ngoh, Robert H. Deng, Shengsheng Yu

Research Collection School Of Computing and Information Systems

Teleophthalmology (TeleOph) is an electronic counterpart of today's face-to-face, patient-to-specialist ophthalmology system. It enables one or more ophthalmologists to remotely examine a patient's condition via a confidential and authentic communication channel. Specifically, TeleOph allows a trained nonspecialist in a primary clinic to screen the patients with digital instruments (e.g., camera, ophthalmoscope). The acquired medical data are delivered to the hospital where an ophthalmologist will review the data collected and, if required, provide further consultation for the patient through a real-time secure channel established over a public Internet network. If necessary, the ophthalmologist is able to further sample the images/video of …


On The Potential Of Limitation-Oriented Malware Detection And Prevention Techniques On Mobile Phones, Qiang Yan, Robert H. Deng, Yingjiu Li, Tieyan Li Jan 2010

On The Potential Of Limitation-Oriented Malware Detection And Prevention Techniques On Mobile Phones, Qiang Yan, Robert H. Deng, Yingjiu Li, Tieyan Li

Research Collection School Of Computing and Information Systems

The malware threat for mobile phones is expected to increase with the functionality enhancement of mobile phones. This threat is exacerbated with the surge in population of smart phones instilled with stable Internet access which provides attractive targets for malware developers. Prior research on malware protection has focused on avoiding the negative impact of the functionality limitations of mobile phones to keep the performance cost within the limitations of mobile phones. Being different, this paper investigates the positive impact of these limitations on suppressing the development of mobile malware. We study the state-of-the-art mobile malware, as well as the progress …


Does Co-Opetition Change The Game? A Bayesian Analysis Of Participation Strategy In An Industry Standard-Setting Organization, Robert J. Kauffman, Benjamin B. M. Shao, Juliana Y. Tsai Jan 2010

Does Co-Opetition Change The Game? A Bayesian Analysis Of Participation Strategy In An Industry Standard-Setting Organization, Robert J. Kauffman, Benjamin B. M. Shao, Juliana Y. Tsai

Research Collection School Of Computing and Information Systems

Across different industries, we observe the emergence of industry standard-setting organizations (SSO) that focus on the creation of industry-specific process standards. Firms adopt a strategy of co-opetition, the combination of cooperation and competition, during standards development. We propose that a firm's co-opetition strategy is revealed to some extent by when it elects to participate in an industry SSO. Bayesian information updating offers an effective empirical modeling perspective for studying firms' participation strategies when managers' beliefs and uncertainties are factored into their decision-making. We analyze a panel data set of 73 U.S. public firms over a 20-year period. These firms are …


The Constructive Trust In Singapore: Five Persistent Puzzles, Hang Wu Tang Jan 2010

The Constructive Trust In Singapore: Five Persistent Puzzles, Hang Wu Tang

Research Collection Yong Pung How School Of Law

This paper investigates some persistent difficulties surrounding the constructive trust. The five persistent puzzles relating to the constructive trust that are considered in this paper are: the terminology puzzle, the institutional and remedial puzzle, the explanatory puzzle, the bankruptcy puzzle and the Torrens puzzle. It is the author’s thesis that these five enduring puzzles must be addressed and ultimately unravelled in order to ensure the coherent development of the law in this area.


Who Is Taking Your Business Across Borders? Harnessing Human Capital For Successful Regionalization In Asia, Richard Raymond Smith, C. Switzer, E. Craig Jan 2010

Who Is Taking Your Business Across Borders? Harnessing Human Capital For Successful Regionalization In Asia, Richard Raymond Smith, C. Switzer, E. Craig

Research Collection Lee Kong Chian School Of Business

As the dynamics of globalisation change, Asia has become the focal point for business growth. With the region’s immense diversity across cultures, language, politics, economic development, climate, geography, populations and resources, human capital management is perhaps the most critical and most vexing success factor for companies seeking to invest/operate/grow/expand here. To develop this report, we explored the question of successful regionalisation in Asia from a human capital perspective. We asked, What human capital challenges do business and HR leaders face in their quest to succeed in Asia? What initiatives have they launched to overcome these challenges? And what business outcomes …


The Sinification Of Western Company Forms In Modern China: A Hybridization Of Sinospheres And Anglospheres, Wai Keung Chung Jan 2010

The Sinification Of Western Company Forms In Modern China: A Hybridization Of Sinospheres And Anglospheres, Wai Keung Chung

Research Collection School of Social Sciences

Western company or corporate forms were introduced to China for more than a hundred years. What has been the impact of this Western institution on the traditional mode of Chinese family business? At the same time, has the traditional Chinese mode of doing business changed any of the fundamental features of this Western institution, and in the end created corporate forms with “Chinese characteristics”? This paper uses the historical sociology and economic sociology perspectives to analyse the interaction between traditional Chinese business and Western corporate forms during the late 19th earlier 20th century modern China. Traditional Chinese business convention for …


Managing Capital Flows: The Case Of Singapore, Hwee Kwan Chow Jan 2010

Managing Capital Flows: The Case Of Singapore, Hwee Kwan Chow

Research Collection School Of Economics

The resurgence of private capital inflows into Asia in recent years has raised the question of whether the region is susceptible to yet another financial crisis. While a sudden large-scale reversal of capital flows is not likely to result in a liquidity crunch or balance of payments crisis, the attendant sharp corrections in asset prices will have an adverse impact on the economy particularly through indirect channels. We present, in this study, Singapore’s experience in managing the risks posed by capital flows as well as the retention of control over exchange rates and monetary conditions. It is the overall package …


New Media: A New Medium In Escalating Crises?, Joanna Ann Mei Siah, Namrata Bansal, Augustine Pang Jan 2010

New Media: A New Medium In Escalating Crises?, Joanna Ann Mei Siah, Namrata Bansal, Augustine Pang

Research Collection Lee Kong Chian School Of Business

Purpose– The use of new media in crisis is a double‐edged sword. On one hand, its pivotal role in online monitoring and dissemination of information can help an organisation manage crisis. On the other hand, it can also create organisational crisis. The purpose of this paper is to examine how new media can be used to escalate crisis.Design/methodology/approach– Four crises were examined: the 2008 Edison Chen sex scandal in Hong Kong; and in the USA, New York Taco Bell‐KFC rats infestation crisis in 2007; JetBlue Airways crisis in 2007, and the Kryptonite locks crisis in 2004.Findings– The very characteristics that …


Contingency Theory Of Strategic Conflict Management: Directions For The Practice Of Crisis Communication From A Decade Of Theory Development, Discovery And Dialogue, Augustine Pang, Yan Jin, Glen. T. Cameron Jan 2010

Contingency Theory Of Strategic Conflict Management: Directions For The Practice Of Crisis Communication From A Decade Of Theory Development, Discovery And Dialogue, Augustine Pang, Yan Jin, Glen. T. Cameron

Research Collection Lee Kong Chian School Of Business

The dilemma facing crisis scholars could not be more paradoxical: How does one explain and predict the outcome of a phenomenon – characteristics which Chaffee and Berger (1987) argued to be the foundation of a theory – that is so contextual-dependent, where the twists and turns of unfolding events often frus-trate the natural ebb of what one could reasonably surmise as logical trajectory? Admittedly, the bête noire for many in the field is that our powers of deductive reasoning, often woven from threads of foraged facts surrounding the unpredictability of crises, are often tragically compromised and encumbered by myriad complex-ities …


The Situated Production Of Stories, David Greatbatch, Timothy Adrian Robert Clark Jan 2010

The Situated Production Of Stories, David Greatbatch, Timothy Adrian Robert Clark

Research Collection Lee Kong Chian School Of Business

At a general level storytelling is a pervasive feature of everyday discourse both within and outside organisations. Existing research on organisational stories indicates that they are not simply frivolous diversions that seek to amaze and entertain the recipients. Rather they may serve a number of important functions for organisations, which include socialising new organisational members by articulating the culture of an organisation; assisting with the development and verbalisation of visions and strategies; helping develop points of similarity within disparate and dispersed organisational groups; sustaining and legitimating existing power relationships as well as providing opportunities for resistance against them; and acting …


Scalable Multi-Core Model Checking Fairness Enhanced Systems, Yang Liu, Jun Sun, Jin Song Dong Dec 2009

Scalable Multi-Core Model Checking Fairness Enhanced Systems, Yang Liu, Jun Sun, Jin Song Dong

Research Collection School Of Computing and Information Systems

Rapid development in hardware industry has brought the prevalence of multi-core systems with shared-memory, which enabled the speedup of various tasks by using parallel algorithms. The Linear Temporal Logic (LTL) model checking problem is one of the difficult problems to be parallelized or scaled up to multi-core. In this work, we propose an on-the-fly parallel model checking algorithm based on the Tarjan’s strongly connected components (SCC) detection algorithm. The approach can be applied to general LTL model checking or with different fairness assumptions. Further, it is orthogonal to state space reduction techniques like partial order reduction. We enhance our PAT …


Asian Maths Whizz And Talkative Females: How Stereotypes Can Actually Boost Performance, Knowledge@Smu Dec 2009

Asian Maths Whizz And Talkative Females: How Stereotypes Can Actually Boost Performance, Knowledge@Smu

Knowledge@SMU

Nobody likes to be pigeonholed or reduced to a single stereotype. One reason could be because we believe ourselves to be products of multiple stereotypes: a combination of identities, such as "Asian", "female", "lawyer", "Gen X", "Christian", "Chinese", etc. While these labels connect us to like-individuals, they can also carry all sorts of connotations and expectations – positive, neutral and negative. For example, an Asian might be expected to outperform a non-Asian at mathematics because of stereotypes that Asians are mathematically inclined. Will such undue expectations affect the Asian's performance outcome? Research studies point to a 'Yes'.


Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan Dec 2009

Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

Selecting the right partner is important for the success of alliances and joint ventures. For international joint ventures (IJVs) from diverse cultures the partner selection process can become complicated. Prior studies have investigated the alliances and joint ventures to develop a set of objective criteria for evaluating potential partners. This paper reports the study of IJVs formed by Singapore firms in Peoples Republic of China and India. The intent was to develop a methodology for identifying partner selection criteria in a cross-cultural setting. The findings reveal that the partner selection process follows a different logic in Confucian societies. Trust has …


The Role Of Is Project Critical Success Factors: A Revelatory Case, Cecil Eng Huang Chua, Wee-Kiat Lim Dec 2009

The Role Of Is Project Critical Success Factors: A Revelatory Case, Cecil Eng Huang Chua, Wee-Kiat Lim

CCX Research

Research in Critical Success Factors (CSFs) of Enterprise Systems (ES) projects has identified numerous practitioner governance mechanisms for ensuring project success. However, such research has not developed a theory of why certain critical success factors encourage project success. Our research develops such theory on a case study where even though the levels of several critical success factors were weak, the project nevertheless succeeded. Specifically, the logistics ES project succeeded even though there was (1) only marginal top management support, (2) low key user commitment, and (3) change management, training and other critical aspects of user management and communication were not …


Firm-Specific Knowledge Resources And Competitive Advantage: The Roles Of Economic- And Relationship-Based Employee Governance Mechanisms, Heli Wang, Jinyu He, Joseph T. Mahoney Dec 2009

Firm-Specific Knowledge Resources And Competitive Advantage: The Roles Of Economic- And Relationship-Based Employee Governance Mechanisms, Heli Wang, Jinyu He, Joseph T. Mahoney

Research Collection Lee Kong Chian School Of Business

The resource-based view of the firm emphasizes the role of firm-specific resources, especially firm-specific knowledge resources, in helping a firm to achieve sustainable competitive advantage. However, the deployment of firm-specific knowledge often requires key employees to make specialized human capital investments that are not easily redeployable to other settings. Thus, in the absence of effective safeguards and trust building devices, employees with foresight may be reluctant to make such specialized investments. This study explores both economic- and relationship-based governance mechanisms that might mitigate this underinvestment problem. Effective use of these governance mechanisms enables a firm to obtain greater performance from …


On The Accuracy And Stability Of A Variety Of Differential Quadrature Formulations For The Vibration Analysis Of Beams, C. H. W. Ng, Yibao Zhao, Y. Xiang, G. W. Wei Dec 2009

On The Accuracy And Stability Of A Variety Of Differential Quadrature Formulations For The Vibration Analysis Of Beams, C. H. W. Ng, Yibao Zhao, Y. Xiang, G. W. Wei

Research Collection Lee Kong Chian School Of Business

The occurrence of spurious complex eigenvalues is a serious stability problem in many differential quadrature methods (DQMs). This paper studies the accuracy and stability of a variety of different differential quadrature formulations. Special emphasis is given to two local DQMs. One utilizes both fictitious grids and banded matrices, called local adaptive differential quadrature method (LaDQM). The other has banded matrices without using fictitious grids to facilitate boundary conditions, called finite difference differential quadrature methods (FDDQMs). These local DQMs include the classic DQMs as special cases given by extending their banded matrices to full matrices. LaDQMs and FDDQMs are implemented on …


Does Patent Strategy Shape The Long-Run Supply Of Public Knowledge? Evidence From Human Genetics, Kenneth G. Huang, Fiona Murray Dec 2009

Does Patent Strategy Shape The Long-Run Supply Of Public Knowledge? Evidence From Human Genetics, Kenneth G. Huang, Fiona Murray

Research Collection Lee Kong Chian School Of Business

Knowledge-based firms seeking competitive advantage often draw on the public knowledge stream (ideas embedded in public commons institutions) as the foundation for private knowledge (ideas firms protect through private intellectual property [IP] institutions). However, understanding of the converse relationship—the impact of private knowledge strategies on public knowledge production—is limited. We examine this question in human genetics, where policy makers debate expanding IP ownership over the human genome. Our difference-in-differences estimates show that gene patents decrease public genetic knowledge, with broader patent scope, private sector ownership, patent thickets, fragmented patent ownership, and a gene's commercial relevance exacerbating their effect.


Feedback On Proposals By The Committee To Develop The Accountancy Sector, Tan, Pearl Hock-Neo Dec 2009

Feedback On Proposals By The Committee To Develop The Accountancy Sector, Tan, Pearl Hock-Neo

Research Collection School Of Accountancy

No abstract provided.


A Robust Damage Assessment Model For Corrupted Database Systems, Ge Fu, Hong Zhu, Yingjiu Li Dec 2009

A Robust Damage Assessment Model For Corrupted Database Systems, Ge Fu, Hong Zhu, Yingjiu Li

Research Collection School Of Computing and Information Systems

An intrusion tolerant database uses damage assessment techniques to detect damage propagation scales in a corrupted database system. Traditional damage assessment approaches in a intrusion tolerant database system can only locate damages which are caused by reading corrupted data. In fact, there are many other damage spreading patterns that have not been considered in traditional damage assessment model. In this paper, we systematically analyze inter-transaction dependency relationships that have been neglected in the previous research and propose four different dependency relationships between transactions which may cause damage propagation. We extend existing damage assessment model based on the four novel dependency …


Wake Up Or Fall Asleep: Value Implication Of Trusted Computing, Nan Hu, Jianhui Huang, Ling Liu, Yingjiu Li, Dan Ma Dec 2009

Wake Up Or Fall Asleep: Value Implication Of Trusted Computing, Nan Hu, Jianhui Huang, Ling Liu, Yingjiu Li, Dan Ma

Research Collection School Of Computing and Information Systems

More than 10 years have passed since trusted computing (TC) technology was introduced to the market; however, there is still no consensus about its value. The increasing importance of user and enterprise security and the security promised by TC, coupled with the increasing tension between the proponents and the opponents of TC, make it timely to investigate the value relevance of TC in terms of both capital market and accounting performance. Based on both price and volume studies, we found that news releases related to the adoption of the TC technology had no information content. All investors, regardless of whether …


Cyber Attacks: Does Physical Boundary Matter?, Qiu-Hong Wang, Seung-Hyun Kim Dec 2009

Cyber Attacks: Does Physical Boundary Matter?, Qiu-Hong Wang, Seung-Hyun Kim

Research Collection School Of Computing and Information Systems

Information security issues are characterized with interdependence. Particularly, cyber criminals can easily cross national boundaries and exploit jurisdictional limitations between countries. Thus, whether cyber attacks are spatially autocorrelated is a strategic issue for government authorities and a tactic issue for insurance companies. Through an empirical study of cyber attacks across 62 countries during the period 2003-2007, we find little evidence on the spatial autocorrelation of cyber attacks at any week. However, after considering economic opportunity, IT infrastructure, international collaboration in enforcement and conventional crimes, we find strong evidence that cyber attacks were indeed spatially autocorrelated as they moved over time. …


The Cartography Of National Humiliation And The Emergence Of China’S Geobody, William A. Callahan Dec 2009

The Cartography Of National Humiliation And The Emergence Of China’S Geobody, William A. Callahan

Research Collection School of Social Sciences

Maps are an important site of the production and consumption of the national image. This essay examines modern Chinese maps to show how the very material borders between foreign and domestic space are the outgrowth of the symbolic workings of historical geography and the conventions of Chinese cartography. These maps do much more than celebrate the extent of Chinese sovereignty; they also mourn the loss of national territories through a cartography of national humiliation. The goal of this essay is to shift our attention from the diplomatic issues of international borders to examine what Chinese maps of China can tell …


Coherent Phrase Model For Efficient Image Near-Duplicate Retrieval, Yiqun Hu, Xiangang Cheng, Liang-Tien Chia, Xing Xie, Deepu Rajan, Ah-Hwee Tan Dec 2009

Coherent Phrase Model For Efficient Image Near-Duplicate Retrieval, Yiqun Hu, Xiangang Cheng, Liang-Tien Chia, Xing Xie, Deepu Rajan, Ah-Hwee Tan

Research Collection School Of Computing and Information Systems

This paper presents an efficient and effective solution for retrieving image near-duplicate (IND) from image database. We introduce the coherent phrase model which incorporates the coherency of local regions to reduce the quantization error of the bag-of-words (BoW) model. In this model, local regions are characterized by visual phrase of multiple descriptors instead of visual word of single descriptor. We propose two types of visual phrase to encode the coherency in feature and spatial domain, respectively. The proposed model reduces the number of false matches by using this coherency and generates sparse representations of images. Compared to other method, the …


Why Egregious Errors Of Law May Yet Justify A Refusal Of Enforcement Under The 'New York Convention', Seng Wei, Edward Ti Dec 2009

Why Egregious Errors Of Law May Yet Justify A Refusal Of Enforcement Under The 'New York Convention', Seng Wei, Edward Ti

Research Collection Yong Pung How School Of Law

Parties on the losing side in international arbitration have long argued that an error of law is a defence to the enforcement of foreign awards. Citing article V(2)(b) of the New York Convention, such parties have argued that a manifest error of law is a violation of public policy. While national courts have generally paid little heed to this line of argument, this article seeks to raise the possibility that there may yet be the exceedingly rare instance in which a court should preclude enforcing an award marred by a hideous error of law. Limited review of an arbitrator's application …


On Strategies For Imbalanced Text Classification Using Svm: A Comparative Study, Aixin Sun, Ee Peng Lim, Ying Liu Dec 2009

On Strategies For Imbalanced Text Classification Using Svm: A Comparative Study, Aixin Sun, Ee Peng Lim, Ying Liu

Research Collection School Of Computing and Information Systems

Many real-world text classification tasks involve imbalanced training examples. The strategies proposed to address the imbalanced classification (e.g., resampling, instance weighting), however, have not been systematically evaluated in the text domain. In this paper, we conduct a comparative study on the effectiveness of these strategies in the context of imbalanced text classification using Support Vector Machines (SVM) classifier. SVM is the interest in this study for its good classification accuracy reported in many text classification tasks. We propose a taxonomy to organize all proposed strategies following the training and the test phases in text classification tasks. Based on the taxonomy, …


To Trust Or Not To Trust? Predicting Online Trusts Using Trust Antecedent Framework, Viet-An Nguyen, Ee Peng Lim, Jing Jiang, Aixin Sun Dec 2009

To Trust Or Not To Trust? Predicting Online Trusts Using Trust Antecedent Framework, Viet-An Nguyen, Ee Peng Lim, Jing Jiang, Aixin Sun

Research Collection School Of Computing and Information Systems

This paper analyzes the trustor and trustee factors that lead to inter-personal trust using a well studied Trust Antecedent framework in management science. To apply these factors to trust ranking problem in online rating systems, we derive features that correspond to each factor and develop different trust ranking models. The advantage of this approach is that features relevant to trust can be systematically derived so as to achieve good prediction accuracy. Through a series of experiments on real data from Epinions, we show that even a simple model using the derived features yields good accuracy and outperforms MoleTrust, a trust …