The Strait Times website ran this article on 26 May 2009 (Read the full report in Tuesday's edition of The Straits Times):
'Hybrid system' for Parliament?
By Zakir Hussain
NOMINATED MP Siew Kum Hong on Monday called for a hybrid Parliament in which 'a limited number of seats' could be 'allocated by way of proportional representation', while the majority would still be filled the way they are now.
This would allow for more diverse views in Parliament, he said, adding that it would also be 'more consistent with democratic principles than a scheme like the Nominated MP scheme'.
Under proportional representation, parties are allocated seats based on their share of the popular vote.
Mr Siew also welcomed the three principles outlined by Senior Minister Goh Chok Tong over the weekend to guide political changes that President SR Nathan had hinted at in his address to Parliament last Monday.
Mr Goh said the changes must be fair to all political parties; should result in a strong, effective Government; and must ensure diverse and opposition views are represented in Parliament.
Mr Siew said that these objectives accept that a fair electoral system is critical for its legitimacy, and that it is in Singapore's interest to have diverse views in the House.
'I applaud the SM, and the Government, for taking this stance,' he said.
Mr Siew also called for a reduction in the size of group representation constituencies (GRCs) and an increase in the number of single member constituencies.
'These moves, together with clear commitments to refrain from the constant redrawing of electoral boundaries and to openly publish the reasons and justifications for any such redrawing, will go a long way towards restoring Singaporeans' respect for the political process in Singapore,' he said.
He felt the moves would also make citizens more willing to take part in the political process, and convince them that the PAP is serious about political change, even if this meant its absolute dominance of the House could be at risk.
Wednesday, May 27, 2009
Teach Character Values
The Straits Times ran this article on 26 May 2009:
Teach character values
By Derrick Ho
THE apparent lack of civility and gracious behaviour during the recent Association of Women for Action and Research (Aware) saga is a clear indication that Singapore is still lagging behind in graciousness, said MP Lim Biow Chuan (Maine Parade GRC) on Tuesday.
He urged schools to teach basic character values to students all the way till university level.
'The only point which I wish to make is that if the reports are accurate, then civility and gracious behaviour during the Aware extraordinary general meeting was clearly missing. While I accept that emotions were highly charged.... I would submit that this cannot be the level of behaviour which we should promote as acceptable,' he said of the 'raucous behaviour' during the EGM.
Citing other examples, Mr Lim said graciousness among Singaporeans seems to 'be an elusive target which is moving further and further away'.
Unruly road behaviour and the need to still rely on campaigns to encourage commuters to give up seats to the elderly, and shoppers to return their trolleys, were some instances Mr Lim raised in his speech during the debate on the President's address.
He said regardless of Singapore's economic situation, 'well-mannered, courteous and considerate' fellow citizens will make life more pleasant'.
Mr Lim said if Singapore is serious about wanting to promote a more civil society, parents must play a part in inculcating values themselves and not 'sub-contract' it to their domestic helper or rely solely on teachers.
Raising a similar point, Mr Masagos Zulkifli, Senior Parilamentary Secretatary for Education and Home Affairs, urged the government and society not to lose sight of its principles and 'fundamentals' during tough times and ensure that children continue to attend school and focus on their studies.'
He noted that a good number of youths drop out of school because they can get by, working at McDonald's for $4 per hour by leaving school immediately rather than wait 12 long years of education to earn a trade certificate.
Acknowledging that dual income families may not be able to spend more time with their children, Mr Lim urged the Ministry of Education to consider teaching basic character values through the entire school curriculum from primary school level all the way to university.
'We should make character education an integral part of the education system and not just another non-examinable subject. We must evaluate out school principals and administrators not on how many students that they can produce with outstanding academic results but how well they mould their students.'
Mr Lim also asked the government to take the lead in nurturing graciousness by showing more compassion to the poor. Citing an example, he said many HDB tenants were asked to pay a higher rental when their family income goes up, regardless of the number of family members the tenant has to support.
'When it comes to dealing with the poorer segment of our society, we take quite a tough approach with these tenants,' Mr Lim said. 'We have failed to come across as being compassionate and mindful of their difficulties... Can we not afford these people a greater sense of compassion by the government? Can we not give our residents more encouragement when they try to better their lives to earn a higher income?'
Teach character values
By Derrick Ho
THE apparent lack of civility and gracious behaviour during the recent Association of Women for Action and Research (Aware) saga is a clear indication that Singapore is still lagging behind in graciousness, said MP Lim Biow Chuan (Maine Parade GRC) on Tuesday.
He urged schools to teach basic character values to students all the way till university level.
'The only point which I wish to make is that if the reports are accurate, then civility and gracious behaviour during the Aware extraordinary general meeting was clearly missing. While I accept that emotions were highly charged.... I would submit that this cannot be the level of behaviour which we should promote as acceptable,' he said of the 'raucous behaviour' during the EGM.
Citing other examples, Mr Lim said graciousness among Singaporeans seems to 'be an elusive target which is moving further and further away'.
Unruly road behaviour and the need to still rely on campaigns to encourage commuters to give up seats to the elderly, and shoppers to return their trolleys, were some instances Mr Lim raised in his speech during the debate on the President's address.
He said regardless of Singapore's economic situation, 'well-mannered, courteous and considerate' fellow citizens will make life more pleasant'.
Mr Lim said if Singapore is serious about wanting to promote a more civil society, parents must play a part in inculcating values themselves and not 'sub-contract' it to their domestic helper or rely solely on teachers.
Raising a similar point, Mr Masagos Zulkifli, Senior Parilamentary Secretatary for Education and Home Affairs, urged the government and society not to lose sight of its principles and 'fundamentals' during tough times and ensure that children continue to attend school and focus on their studies.'
He noted that a good number of youths drop out of school because they can get by, working at McDonald's for $4 per hour by leaving school immediately rather than wait 12 long years of education to earn a trade certificate.
Acknowledging that dual income families may not be able to spend more time with their children, Mr Lim urged the Ministry of Education to consider teaching basic character values through the entire school curriculum from primary school level all the way to university.
'We should make character education an integral part of the education system and not just another non-examinable subject. We must evaluate out school principals and administrators not on how many students that they can produce with outstanding academic results but how well they mould their students.'
Mr Lim also asked the government to take the lead in nurturing graciousness by showing more compassion to the poor. Citing an example, he said many HDB tenants were asked to pay a higher rental when their family income goes up, regardless of the number of family members the tenant has to support.
'When it comes to dealing with the poorer segment of our society, we take quite a tough approach with these tenants,' Mr Lim said. 'We have failed to come across as being compassionate and mindful of their difficulties... Can we not afford these people a greater sense of compassion by the government? Can we not give our residents more encouragement when they try to better their lives to earn a higher income?'
Tuesday, May 26, 2009
Lorry Load of Trouble
The New Paper ran this article on 26 May 2009:
Lorry load of trouble
By Ho Lian-Yi
It's common to hear Singaporeans gripe about having to be packed like sardines on trains and buses during peak hours.
But take a look at these pictures - and see how foreign workers are being transported daily.
They put up with bumpy rides and battle the elements. Worse, it is dangerous.
Four workers were killed last Monday after the lorry that was carrying them crashed into a trailer at Tuas.
We spoke to a few foreign workers to find out what it's like to travel on the back of a lorry.
Mr Arman, 29, a Bangladeshi, told The New Paper that he gets to sit in the front of the lorry these days - one of the perks of being a supervisor.
But he still remembers vividly the "scary" rides at the back.
The ride from his workers' quarters in Yishun to his worksite in Haig Road takes 25 minutes.
When the drive brakes suddenly, "those behind also come to the front", he said.
He has also seen workers getting hit by low-lying branches - causing injury in some cases.
What is really dangerous, Mr Arman said, is when companies carry equipment and men on the same lorry. When it's overloaded, workers have to sit on the machinery.
He said his workers bought a 5m-long canvas sheet to protect themselves from the rain. When it pours, they huddle under the sheet, holding hands.
Despite the recent accident, nothing has changed, Mr Arman said.
Another Bangladeshi workers, 38, who declined to be named, said that recently, one of his colleagues injured his leg falling off a lorry when it surged forward before he had properly climbed onboard.
Although he has worked in Singapore for 19 years, he said he had to take lorries only in the last two years. Previously, he lived onsite.
The lorry rides are very bumpy, he said. And that hurts his spine.
"One year, two years, so much damage to my back," he said.
Sometimes, when the lorry ends up behind a rubbish truck, the stench is unbearable, he said.
He added that when the workers get caught in the rain and fall sick, some foremen are unsympathetic.
Other workers though, had better experiences.
Indian national Muthu Senthil, 28, who has worked in Singapore for five years, takes the lorry from Tuas to Marina Bay at 7am every day. It's a 45-minute ride.
While there are no seat belts, he said everyone holds on to the handlebars at the side tightly. And people do not fall off as the driver moves off only after the workers have told him that everyone is secure.
No mixing
They also do not mix equipment with workers.
"If they need to get equipment, they'll make a second trip," Mr Senthil said.
Singapore roads are straight, he added, and not dangerous.
Mr Bala Supramaniam, 27, said his driver, a Singaporean, was "very good" and cleans his lorry every day.
"He follows the speed limit, even on the highway," he said.
His lorry has plywood planks securely bolted to the sides for the workers to sit, and handles to grasp.
Mr Bala deals with the dust and smoke of the roads with a handkerchief over his mouth.
What he is unhappy about is the way many workers get on or off a lorry while it's still moving.
All the foreign workers we spoke to said they preferred to be transported by bus. But most were not optimistic that there will be changes any time soon.
Said Mr Arman, "If I tell my boss, buy a bus for us, he'll say, 'waste money for what?'"
Lorry load of trouble
By Ho Lian-Yi
It's common to hear Singaporeans gripe about having to be packed like sardines on trains and buses during peak hours.
But take a look at these pictures - and see how foreign workers are being transported daily.
They put up with bumpy rides and battle the elements. Worse, it is dangerous.
Four workers were killed last Monday after the lorry that was carrying them crashed into a trailer at Tuas.
We spoke to a few foreign workers to find out what it's like to travel on the back of a lorry.
Mr Arman, 29, a Bangladeshi, told The New Paper that he gets to sit in the front of the lorry these days - one of the perks of being a supervisor.
But he still remembers vividly the "scary" rides at the back.
The ride from his workers' quarters in Yishun to his worksite in Haig Road takes 25 minutes.
When the drive brakes suddenly, "those behind also come to the front", he said.
He has also seen workers getting hit by low-lying branches - causing injury in some cases.
What is really dangerous, Mr Arman said, is when companies carry equipment and men on the same lorry. When it's overloaded, workers have to sit on the machinery.
He said his workers bought a 5m-long canvas sheet to protect themselves from the rain. When it pours, they huddle under the sheet, holding hands.
Despite the recent accident, nothing has changed, Mr Arman said.
Another Bangladeshi workers, 38, who declined to be named, said that recently, one of his colleagues injured his leg falling off a lorry when it surged forward before he had properly climbed onboard.
Although he has worked in Singapore for 19 years, he said he had to take lorries only in the last two years. Previously, he lived onsite.
The lorry rides are very bumpy, he said. And that hurts his spine.
"One year, two years, so much damage to my back," he said.
Sometimes, when the lorry ends up behind a rubbish truck, the stench is unbearable, he said.
He added that when the workers get caught in the rain and fall sick, some foremen are unsympathetic.
Other workers though, had better experiences.
Indian national Muthu Senthil, 28, who has worked in Singapore for five years, takes the lorry from Tuas to Marina Bay at 7am every day. It's a 45-minute ride.
While there are no seat belts, he said everyone holds on to the handlebars at the side tightly. And people do not fall off as the driver moves off only after the workers have told him that everyone is secure.
No mixing
They also do not mix equipment with workers.
"If they need to get equipment, they'll make a second trip," Mr Senthil said.
Singapore roads are straight, he added, and not dangerous.
Mr Bala Supramaniam, 27, said his driver, a Singaporean, was "very good" and cleans his lorry every day.
"He follows the speed limit, even on the highway," he said.
His lorry has plywood planks securely bolted to the sides for the workers to sit, and handles to grasp.
Mr Bala deals with the dust and smoke of the roads with a handkerchief over his mouth.
What he is unhappy about is the way many workers get on or off a lorry while it's still moving.
All the foreign workers we spoke to said they preferred to be transported by bus. But most were not optimistic that there will be changes any time soon.
Said Mr Arman, "If I tell my boss, buy a bus for us, he'll say, 'waste money for what?'"
Only Elected Opposition Offers 'Effective Checks'
The Straits Times ran this article on 26 May 2009:
Only elected opposition offers 'effective checks'
By Zakir Hussain, Political Correspondent
THE ruling party says the effectiveness of Singapore's political system lies in its internal checks and its ability to serve the people, but only an elected opposition can provide effective checks and balances, Mr Low Thia Khiang (Hougang) declared yesterday.
The leader of the Workers' Party said this is because the ruling People's Action Party (PAP) currently dominates the House, can amend the Constitution freely, and controls key levers of power in the country.
What if one day it were to abuse its powers, trample on people's rights or become corrupt? 'What can the people do then?' asked Mr Low.
NMP Siew Kum Hong calls for a 'hybrid system' for Parliament
NOMINATED MP Siew Kum Hong yesterday called for a hybrid Parliament in which 'a limited number of seats' could be 'allocated by way of proportional representation', while the majority would still be filled the way they are now.
This would allow for more diverse views in Parliament, he said, adding that it would also be 'more consistent with democratic principles than a scheme like the Nominated MP scheme'.
Under proportional representation, parties are allocated seats based on their share of the popular vote.
Only elected opposition offers 'effective checks'
By Zakir Hussain, Political Correspondent
THE ruling party says the effectiveness of Singapore's political system lies in its internal checks and its ability to serve the people, but only an elected opposition can provide effective checks and balances, Mr Low Thia Khiang (Hougang) declared yesterday.
The leader of the Workers' Party said this is because the ruling People's Action Party (PAP) currently dominates the House, can amend the Constitution freely, and controls key levers of power in the country.
What if one day it were to abuse its powers, trample on people's rights or become corrupt? 'What can the people do then?' asked Mr Low.
NMP Siew Kum Hong calls for a 'hybrid system' for Parliament
NOMINATED MP Siew Kum Hong yesterday called for a hybrid Parliament in which 'a limited number of seats' could be 'allocated by way of proportional representation', while the majority would still be filled the way they are now.
This would allow for more diverse views in Parliament, he said, adding that it would also be 'more consistent with democratic principles than a scheme like the Nominated MP scheme'.
Under proportional representation, parties are allocated seats based on their share of the popular vote.
We Are Not Funding NMP
The Electric New Paper ran this article on 26 May 2009:
We are not funding NMP
By Liew Hanqing
NETIZENS were abuzz over a meeting between him and Nominated Member of Parliament (NMP) Siew Kum Hong last month.
But Mr Johan Skarendal, 29, a member of the Swedish International Liberal Centre (SILC), has rubbished online allegations that Mr Siew had asked for and is receiving foreign funding from his organisation.
Mr Skarendal said SILC is a foundation which assists democracy development, by supporting organisations and individuals who promote democracy and human rights.
It is affiliated to the Liberal Party, one of the four political parties in the Swedish government since 2006.
In recent weeks, Mr Siew has been the target of what seems like an organised online campaign to oppose his re-nomination as a NMP.
Flamed online
He has been flamed extensively on several forums and blogs, and has even received nasty e-mails from his detractors.
Mr Skarendal told The New Paper that though he met Mr Siew during his visit to Singapore last month, the issue of funding was never broached.
He said: 'I met him (Mr Siew) for one hour to discuss his work in parliament, and his views on current affairs and the civil society in Singapore.'
He added that SILC is one of several Swedish organisations carrying out government policy in the democracy assistance field.
'All of our project proposals must pass through rigorous screening and evaluation before decisions are made to fund a project,' he said.
He stressed that Mr Siew did not ask about the possibility of funding, and neither did he mention the possibility to Mr Siew.
'The current allegations against him are clearly nothing but hot air with the intent to defame him, and as such are criminal in nature,' Mr Skarendal said.
When contacted, Mr Siew declined comment as he has already made a police report.
In an 18 May entry on his blog (siewkumhong.blogspot.com), Mr Siew wrote: 'I did not at any time ask for, and have not at any time been offered or accepted, any sort of funding from any local or foreign entity, including the Swedish politician named in the latest attack.
'The only sources of income (or funding) that I have, are my employer and the Government of Singapore (in the form of my monthly NMP allowance).'
He quashed online allegations of links with the Singapore Democratic Party (SDP).
Mr Siew described the latest attacks as going 'beyond anything that a reasonable person could possibly perceive as being a valid or legitimate exercise of the right to free speech.'
He added that he would not tolerate the latest wave of 'character assassination' from 'cowards hiding behind the perceived anonymity of the Internet'.
Mr Skarendal said his latest visit to Singapore was with Mr Henrik Ehrenberg, head of the allied Christian Democratic International Center.
They met with several 'human rights defenders and civil society members', but Mr Skarendal declined to say who, because it would be 'impolite' to do so.
He confirmed that he had met with SDP secretary-general Chee Soon Juan during the recent visit. They first met in February 2003 when Dr Chee visited Sweden.
We are not funding NMP
By Liew Hanqing
NETIZENS were abuzz over a meeting between him and Nominated Member of Parliament (NMP) Siew Kum Hong last month.
But Mr Johan Skarendal, 29, a member of the Swedish International Liberal Centre (SILC), has rubbished online allegations that Mr Siew had asked for and is receiving foreign funding from his organisation.
Mr Skarendal said SILC is a foundation which assists democracy development, by supporting organisations and individuals who promote democracy and human rights.
It is affiliated to the Liberal Party, one of the four political parties in the Swedish government since 2006.
In recent weeks, Mr Siew has been the target of what seems like an organised online campaign to oppose his re-nomination as a NMP.
Flamed online
He has been flamed extensively on several forums and blogs, and has even received nasty e-mails from his detractors.
Mr Skarendal told The New Paper that though he met Mr Siew during his visit to Singapore last month, the issue of funding was never broached.
He said: 'I met him (Mr Siew) for one hour to discuss his work in parliament, and his views on current affairs and the civil society in Singapore.'
He added that SILC is one of several Swedish organisations carrying out government policy in the democracy assistance field.
'All of our project proposals must pass through rigorous screening and evaluation before decisions are made to fund a project,' he said.
He stressed that Mr Siew did not ask about the possibility of funding, and neither did he mention the possibility to Mr Siew.
'The current allegations against him are clearly nothing but hot air with the intent to defame him, and as such are criminal in nature,' Mr Skarendal said.
When contacted, Mr Siew declined comment as he has already made a police report.
In an 18 May entry on his blog (siewkumhong.blogspot.com), Mr Siew wrote: 'I did not at any time ask for, and have not at any time been offered or accepted, any sort of funding from any local or foreign entity, including the Swedish politician named in the latest attack.
'The only sources of income (or funding) that I have, are my employer and the Government of Singapore (in the form of my monthly NMP allowance).'
He quashed online allegations of links with the Singapore Democratic Party (SDP).
Mr Siew described the latest attacks as going 'beyond anything that a reasonable person could possibly perceive as being a valid or legitimate exercise of the right to free speech.'
He added that he would not tolerate the latest wave of 'character assassination' from 'cowards hiding behind the perceived anonymity of the Internet'.
Mr Skarendal said his latest visit to Singapore was with Mr Henrik Ehrenberg, head of the allied Christian Democratic International Center.
They met with several 'human rights defenders and civil society members', but Mr Skarendal declined to say who, because it would be 'impolite' to do so.
He confirmed that he had met with SDP secretary-general Chee Soon Juan during the recent visit. They first met in February 2003 when Dr Chee visited Sweden.
Call for Political Change
Today ran this article on 26 May 2009:
'Start with electoral boundaries’
By Alicia Wong
THOUGH it may put the People’s Action Party’s dominance at risk, the “sheer symbolism” of having smaller Group Representation Constituencies (GRC) and more Single Member Constituencies (SMC) willl “go a long way towards convincing Singaporeans that the PAP is serious about political change,” said Nominated MP Siew Kum Hong.
President S R Nathan had last week signalled that Singapore’s political system must evolve as society changes.
In Mr Siew’s view, clear commitments to not constantly re-draw the electoral boundaries, and publishing the reasons should the Government do so, will help restore Singaporean’s respect for the process and increase their desire to vote.
“That has to be the starting place if we truly want Singapore politics to evolve and Singaporeans to participate,” argued Mr Siew, who saw a “longstanding problem of political apathy and disengagement”.
MP Low Thia Kiang (Hougang) called for the strengthening of external checks and balances in the political system, in the form of the Opposition.
It is not enough that the losing candidate is appointed as a Non-Constituency MP, he argued; elected MPs have the benefit of Meet the People sessions which help them grasp issues on the ground. Also, given the chance to represent a constituency gives the Opposition party space for events to widen its networks.
In contrast to Mr Siew’s view, Reach chairman Amy Khor believes there is “a growing political maturity and vigorous, no holds barred debate on issues of the day”. She cited discussions on the Reach portal on electricity prices and the NMP nominations.
MP Michael Palmer (Pasir Ris-Ponggol) agreed society is becoming more “outspoken” as channels of communication between the Government and people grow. Recent episodes in civil society and sports associations also show “a cry for openness and transparency”, he noted.
Dr Khor said “cautious” experimentation is the way forward. With Singapore’s small size, there is no “manoeuvre room to embark on bold political experimentation without risking everything that has been painstakingly built up over the past few decades”, she warned.
'Start with electoral boundaries’
By Alicia Wong
THOUGH it may put the People’s Action Party’s dominance at risk, the “sheer symbolism” of having smaller Group Representation Constituencies (GRC) and more Single Member Constituencies (SMC) willl “go a long way towards convincing Singaporeans that the PAP is serious about political change,” said Nominated MP Siew Kum Hong.
President S R Nathan had last week signalled that Singapore’s political system must evolve as society changes.
In Mr Siew’s view, clear commitments to not constantly re-draw the electoral boundaries, and publishing the reasons should the Government do so, will help restore Singaporean’s respect for the process and increase their desire to vote.
“That has to be the starting place if we truly want Singapore politics to evolve and Singaporeans to participate,” argued Mr Siew, who saw a “longstanding problem of political apathy and disengagement”.
MP Low Thia Kiang (Hougang) called for the strengthening of external checks and balances in the political system, in the form of the Opposition.
It is not enough that the losing candidate is appointed as a Non-Constituency MP, he argued; elected MPs have the benefit of Meet the People sessions which help them grasp issues on the ground. Also, given the chance to represent a constituency gives the Opposition party space for events to widen its networks.
In contrast to Mr Siew’s view, Reach chairman Amy Khor believes there is “a growing political maturity and vigorous, no holds barred debate on issues of the day”. She cited discussions on the Reach portal on electricity prices and the NMP nominations.
MP Michael Palmer (Pasir Ris-Ponggol) agreed society is becoming more “outspoken” as channels of communication between the Government and people grow. Recent episodes in civil society and sports associations also show “a cry for openness and transparency”, he noted.
Dr Khor said “cautious” experimentation is the way forward. With Singapore’s small size, there is no “manoeuvre room to embark on bold political experimentation without risking everything that has been painstakingly built up over the past few decades”, she warned.
MPs Call for Greater Openness
Today ran this article on 26 May 2009:
MPs call for greater openness from Temasek and GIC
By Alicia Wong
AS THE world economy took one knock after another in the past year, Temasek Holdings and the Government of Singapore Investment Corp’s (GIC’s) investment decisions have also come in for some hard questions inside and outside of Parliament.
Yesterday, in their debate on the President’s May 18 address, Members of Parliament (MPs) added their voices to the call for more openness from the two investment companies in matters of public interest, as they homed in on Temasek’s recent divestment of its stake in Bank of America (BofA).
MP Inderjit Singh (Ang Mo Kio) called for a complete review on the management and investment of Singapore’s reserves, given how Temasek and GIC had deviated from what they were chartered to do. While GIC once followed conservative principles in long-term investments that delivered good returns, it has recently been investing in “more risky investments,” said Mr Singh.
Meanwhile, Temasek, which used to invest in Singapore or Government-linked companies in their early stages of development, “in fact moved more into what GIC used to do”, so that the two are “starting to look almost similar”.
A complete review of how Singapore’s reserves are managed from now on, would “require top-levelpolicy thinking on what the core objectives are, that these two funds should serve and how they should be managed,” said Mr Singh.
With Singapore’s reserves meant as “long-term shelter” for its citizens, “is it appropriate to allow GIC and Temasek to continue investing the way they have done in recent years, make somewhat speculative investments, like the way private wealth is shown to have been managed?” he questioned.
If Temasek does not return to its original investment roots, should there be another entity to invest and bring up Singapore-based companies, asked Mr Singh, “and most importantly, should we allow so much of our reserves to be placed with GIC and Temasek, or ... managed by people who understand these are meant to be long-term investments”?
On the BofA stake sale, Temasek had on May 15confirmed it sold its 3-per-cent shareholding through a series of sales in the first quarter — but kept mum on its reasons up till a week later, when it said that its “investment thesis” as well as the “risk-return environment” had changed. Still, it did not disclose the loss incurred on the deal, which stemmed from its 2007 US$5.9-billion investment in Merrill Lynch ($8.5 billion) that was later taken over by BofA.
Temasek’s reticence on the matter spawned even more speculation over the size of the loss, with some estimates hitting as high as US$4.6 billion.
MP Michael Palmer (Pasir Ris-Ponggol) highlighted how citizens speculated — online and offline — on Temasek’s reasons for divesting the BofA stake and the loss incurred. “Clearly, the public wanted to know the rationale and reasons behind the decision to sell what was originally meant to be a long term investment made with public funds,” he said.
“Unfortunately, due to the lack of information, speculation and discontent were rife,” he added.
While Temasek’s statement last Thursday was a “step in the right direction”, said Mr Palmer, “questions still remain”. While it is not expected to give detailed investment strategies, “answers to pertinent questions given after the fact, which will not impact investment outcome, would appear to be another matter”.
MP Zaqy Mohamad (Hong Kah) said: “We lost money that took generations and many good years to create. They are investing Singaporeans’ money and Singaporeans deserve greater accountability in how our money is being spent.”
Mr Zaqy highlighted the need to address issues such as matching the commercial objectives of the investment funds to the social objectives of the reserves. He also asked if there should be greater transparency “given to the public of the bonuses and performance of its staff”?
MPs call for greater openness from Temasek and GIC
By Alicia Wong
AS THE world economy took one knock after another in the past year, Temasek Holdings and the Government of Singapore Investment Corp’s (GIC’s) investment decisions have also come in for some hard questions inside and outside of Parliament.
Yesterday, in their debate on the President’s May 18 address, Members of Parliament (MPs) added their voices to the call for more openness from the two investment companies in matters of public interest, as they homed in on Temasek’s recent divestment of its stake in Bank of America (BofA).
MP Inderjit Singh (Ang Mo Kio) called for a complete review on the management and investment of Singapore’s reserves, given how Temasek and GIC had deviated from what they were chartered to do. While GIC once followed conservative principles in long-term investments that delivered good returns, it has recently been investing in “more risky investments,” said Mr Singh.
Meanwhile, Temasek, which used to invest in Singapore or Government-linked companies in their early stages of development, “in fact moved more into what GIC used to do”, so that the two are “starting to look almost similar”.
A complete review of how Singapore’s reserves are managed from now on, would “require top-levelpolicy thinking on what the core objectives are, that these two funds should serve and how they should be managed,” said Mr Singh.
With Singapore’s reserves meant as “long-term shelter” for its citizens, “is it appropriate to allow GIC and Temasek to continue investing the way they have done in recent years, make somewhat speculative investments, like the way private wealth is shown to have been managed?” he questioned.
If Temasek does not return to its original investment roots, should there be another entity to invest and bring up Singapore-based companies, asked Mr Singh, “and most importantly, should we allow so much of our reserves to be placed with GIC and Temasek, or ... managed by people who understand these are meant to be long-term investments”?
On the BofA stake sale, Temasek had on May 15confirmed it sold its 3-per-cent shareholding through a series of sales in the first quarter — but kept mum on its reasons up till a week later, when it said that its “investment thesis” as well as the “risk-return environment” had changed. Still, it did not disclose the loss incurred on the deal, which stemmed from its 2007 US$5.9-billion investment in Merrill Lynch ($8.5 billion) that was later taken over by BofA.
Temasek’s reticence on the matter spawned even more speculation over the size of the loss, with some estimates hitting as high as US$4.6 billion.
MP Michael Palmer (Pasir Ris-Ponggol) highlighted how citizens speculated — online and offline — on Temasek’s reasons for divesting the BofA stake and the loss incurred. “Clearly, the public wanted to know the rationale and reasons behind the decision to sell what was originally meant to be a long term investment made with public funds,” he said.
“Unfortunately, due to the lack of information, speculation and discontent were rife,” he added.
While Temasek’s statement last Thursday was a “step in the right direction”, said Mr Palmer, “questions still remain”. While it is not expected to give detailed investment strategies, “answers to pertinent questions given after the fact, which will not impact investment outcome, would appear to be another matter”.
MP Zaqy Mohamad (Hong Kah) said: “We lost money that took generations and many good years to create. They are investing Singaporeans’ money and Singaporeans deserve greater accountability in how our money is being spent.”
Mr Zaqy highlighted the need to address issues such as matching the commercial objectives of the investment funds to the social objectives of the reserves. He also asked if there should be greater transparency “given to the public of the bonuses and performance of its staff”?
Call for a Review of Foreign Worker Policy
Today ran this article on 26 May 2009:
Call for a review of foreign worker policy
By Neo Chai Chin
Should Singapore tighten its “liberal” foreign worker policies? Some Members of Parliament think so and have called for a Government review.
Jurong MP Halimah Yacob urged for a review of foreign worker quotas to reflect today’s situation of higher unemployment and weaker job creation. She warned of a “hollowing out of skills” among locals, should large numbers of foreigners occupy jobs in a particular sector.
“There are now so many foreign workers even in the services sector that Singaporeans are beginning to feel squeezed out,” she said. For their part, Singaporeans must be prepared to work in new sectors or work further away from home.
Ang Mo Kio MP Inderjit Singh believes Singapore needs more pro-active measures such as a minimum-wage system to make some jobs more attractive to locals — a call the Opposition has made in the past — as well as reserving certain jobs for Singaporeans.
Middle- and lower-income groups here will be worse off over time with the current liberal policies due to “artificially depressed” wages — a result of “competition for low value-added jobs from foreigners”, he said.
Call for a review of foreign worker policy
By Neo Chai Chin
Should Singapore tighten its “liberal” foreign worker policies? Some Members of Parliament think so and have called for a Government review.
Jurong MP Halimah Yacob urged for a review of foreign worker quotas to reflect today’s situation of higher unemployment and weaker job creation. She warned of a “hollowing out of skills” among locals, should large numbers of foreigners occupy jobs in a particular sector.
“There are now so many foreign workers even in the services sector that Singaporeans are beginning to feel squeezed out,” she said. For their part, Singaporeans must be prepared to work in new sectors or work further away from home.
Ang Mo Kio MP Inderjit Singh believes Singapore needs more pro-active measures such as a minimum-wage system to make some jobs more attractive to locals — a call the Opposition has made in the past — as well as reserving certain jobs for Singaporeans.
Middle- and lower-income groups here will be worse off over time with the current liberal policies due to “artificially depressed” wages — a result of “competition for low value-added jobs from foreigners”, he said.
Myanmar's Suu Kyi Set to Testify as Outcry Grows
AFP ran this article on 26 May 2009:
Myanmar's Suu Kyi set to testify as outcry grows
Myanmar pro-democracy icon Aung San Suu Kyi was set to testify at her trial, as European and Asian foreign ministers stepped up international pressure on the ruling junta to free her.
The military regime said it would reopen the court to diplomats and journalists for part of the day in a small concession to global criticism of its treatment of the 63-year-old Nobel Peace Prize laureate.
Critics say Aung San Suu Kyi's trial, on charges of breaching her house arrest over an incident in which a US man swam to her house, is an excuse for Myanmar's ruling generals to lock her up for elections due next year.
The spokesman for her opposition party, Nyan Win, said the defence felt that the mostly closed proceedings at the notorious Insein Prison near the main city of Yangon were being rushed through.
"She will be questioned by the judge (on Tuesday)... This was a surprise to us because we need more time to discuss the case with Daw Aung San Suu Kyi," Nyan Win said on Monday night.
Aung San Suu Kyi pleaded innocent last week to the charges, under which she faces between three and five years in jail. She has been detained for 13 of the last 19 years, mostly under house arrest.
The defence is also planning to call Tin Oo , the detained deputy leader of her opposition National League for Democracy (NLD) party, as one of its witnesses.
Asked whether he thought the ruling junta would allow testimony by Tin Oo, who has been in jail or under house arrest since 2003, Nyan Win told AFP: "They have to, otherwise it will be one-sided."
Diplomats from all foreign embassies in Yangon had been told to report to the court early on Tuesday for a briefing by a magistrate, and they would be allowed to attend the trial later in the day, a western diplomat said.
Authorities will also allow 10 journalists from local media and 11 from international organisations to report on part of the proceedings.
The trial has provoked a storm of international outrage.
More than 40 foreign ministers from Asia and Europe meeting in the Vietnamese capital Hanoi this week are to jointly call for the release Aung San Suu Kyi, according to a draft statement.
"In light of the concern about the recent development to Daw Aung San Suu Kyi, ministers... called for the early release of those under detention and the lifting of restriction placed on political parties," said the draft statement.
During a meeting Monday with Myanmar Foreign Minister Nyan Win on the sidelines of the talks, the EU called for Aung San Suu Kyi's immediate release.
In a rare move, the Association of Southeast Asian Nations ( ASEAN ) last week expressed "grave concern" over her treatment. Myanmar's neighbours normally prefer not to be seen as intervening in the affairs of their members.
Myanmar issued an angry rebuttal to the statement on Monday.
The junta is also trying the American intruder, John Yettaw, and two female aides who live with Aung San Suu Kyi in the house.
Yettaw has said that he swam across a lake to the house to warn her of his belief that she would be assassinated, but the junta accuses Aung San Suu Kyi of illegally communicating with and sheltering him.
The latest, six-year period of Aung San Suu Kyi's house arrest is due to expire on Wednesday but Myanmar authorities have not said whether they will extend the term.
Aung San Suu Kyi and her deputy Tin Oo have both been detained since an incident in 2003 in which their motorcade came under attack during a political tour.
Wednesday is also the 19th anniversary of Myanmar's last democratic elections. The NLD won a landslide victory in the polls, but the military never allowed it to take office.
Myanmar's Suu Kyi set to testify as outcry grows
Myanmar pro-democracy icon Aung San Suu Kyi was set to testify at her trial, as European and Asian foreign ministers stepped up international pressure on the ruling junta to free her.
The military regime said it would reopen the court to diplomats and journalists for part of the day in a small concession to global criticism of its treatment of the 63-year-old Nobel Peace Prize laureate.
Critics say Aung San Suu Kyi's trial, on charges of breaching her house arrest over an incident in which a US man swam to her house, is an excuse for Myanmar's ruling generals to lock her up for elections due next year.
The spokesman for her opposition party, Nyan Win, said the defence felt that the mostly closed proceedings at the notorious Insein Prison near the main city of Yangon were being rushed through.
"She will be questioned by the judge (on Tuesday)... This was a surprise to us because we need more time to discuss the case with Daw Aung San Suu Kyi," Nyan Win said on Monday night.
Aung San Suu Kyi pleaded innocent last week to the charges, under which she faces between three and five years in jail. She has been detained for 13 of the last 19 years, mostly under house arrest.
The defence is also planning to call Tin Oo , the detained deputy leader of her opposition National League for Democracy (NLD) party, as one of its witnesses.
Asked whether he thought the ruling junta would allow testimony by Tin Oo, who has been in jail or under house arrest since 2003, Nyan Win told AFP: "They have to, otherwise it will be one-sided."
Diplomats from all foreign embassies in Yangon had been told to report to the court early on Tuesday for a briefing by a magistrate, and they would be allowed to attend the trial later in the day, a western diplomat said.
Authorities will also allow 10 journalists from local media and 11 from international organisations to report on part of the proceedings.
The trial has provoked a storm of international outrage.
More than 40 foreign ministers from Asia and Europe meeting in the Vietnamese capital Hanoi this week are to jointly call for the release Aung San Suu Kyi, according to a draft statement.
"In light of the concern about the recent development to Daw Aung San Suu Kyi, ministers... called for the early release of those under detention and the lifting of restriction placed on political parties," said the draft statement.
During a meeting Monday with Myanmar Foreign Minister Nyan Win on the sidelines of the talks, the EU called for Aung San Suu Kyi's immediate release.
In a rare move, the Association of Southeast Asian Nations ( ASEAN ) last week expressed "grave concern" over her treatment. Myanmar's neighbours normally prefer not to be seen as intervening in the affairs of their members.
Myanmar issued an angry rebuttal to the statement on Monday.
The junta is also trying the American intruder, John Yettaw, and two female aides who live with Aung San Suu Kyi in the house.
Yettaw has said that he swam across a lake to the house to warn her of his belief that she would be assassinated, but the junta accuses Aung San Suu Kyi of illegally communicating with and sheltering him.
The latest, six-year period of Aung San Suu Kyi's house arrest is due to expire on Wednesday but Myanmar authorities have not said whether they will extend the term.
Aung San Suu Kyi and her deputy Tin Oo have both been detained since an incident in 2003 in which their motorcade came under attack during a political tour.
Wednesday is also the 19th anniversary of Myanmar's last democratic elections. The NLD won a landslide victory in the polls, but the military never allowed it to take office.
Chinese Worker Jailed for 10 Weeks
The Straits Times ran this story on 25 May 2009:
Jailed for 10 weeks
A CHINESE national who threatened to jump from the top of the Ministry of Manpower building last month had no intention of doing so, a district court heard on Monday.
Zhao Er Hui's purpose of calling the police on April 1 was to intimidate MOM officers to intervene into his work-related issues with his employer.
The 32-year-old was jailed for 10 weeks after he admitted to criminal trespass at the seven-storey MOM building at Havelock Road that day.
Jailed for 10 weeks
A CHINESE national who threatened to jump from the top of the Ministry of Manpower building last month had no intention of doing so, a district court heard on Monday.
Zhao Er Hui's purpose of calling the police on April 1 was to intimidate MOM officers to intervene into his work-related issues with his employer.
The 32-year-old was jailed for 10 weeks after he admitted to criminal trespass at the seven-storey MOM building at Havelock Road that day.
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