Azmoon Ahmad
Singapore
“(d) Even if the information can be provided to the IPR holder after the seizure of infringed goods and security deposit has been placed and supporting documents are submitted, how do we ensure that such information is well-protected and does not fall into the wrong recipient?”
“I have one supplementary question. Can the Senior Parliamentary Secretary share with us how many students were under FAS in 2017? Assoc Prof Dr Muhammad Faishal Ibrahim: I do not have the figures right now. If the Member would like to, he can file another Parliamentary Question.”
“I thank the Senior Minister of State for the elaboration. I have one question. I notice that upon approaching the zebra crossing at every crossroad, it is quite common, at least for me, to see that the PMD riders do not stop but just rush through.”
“While these scenarios are likely and can possibly cause conflict between generations, I believe our Government, and especially the 4G leaders, shall have the wisdom to ensure the needs of all Singaporeans are satisfactorily met and not at the expense of others.”
“Therefore, it is imperative that we should strive to achieve a healthy competition scenario, striking a balance between an open and free market economy against a regimented one. Like many situations, an acceptable and optimum condition can only be achieved if the surrounding parameters are monitored and managed.”
“I thank the Minister for the answer. May I know what is the appropriate target that MENDAKI has set in order to have this so-called repayment rate to be acceptable? Assoc Prof Dr Yaacob Ibrahim: Sir, the overall circumstance has to do with the amount of reserves that we need to keep in MENDAKI. MENDAKI is a Self-Help Group.”
The complete record
Every one of 110 lines we hold for Azmoon Ahmad, in date order, each linked to its source. Free to read, in full, without an account. Page 1 of 3.
“Not only shall we progress as a nation, but also as an integrated society where we truly see our fellow Singaporeans as family. With that, Mr Speaker, without reservation and, wholeheartedly, I support the Motion. 3.24 pm”
“It is my hope that the Government and policymakers will approach education strategies with a heart, especially in considering the different circumstances our children are in and how we can help them overcome any challenges or barriers. It is also my hope that these strategies will also help our children to explore and rediscover the joy of learning. Only when we do these can we truly prepare our children for the future and, at the same time, take our first step towards achieving national integration, where everyone moves forward together as one, with no one left behind. Mr Speaker, in summarising, education will remain as important as it has been since time immemorial, if not even more. It is through education that we progress and morph from one stage to the next. Be it in culture, economics, engineering or others, education will continue to be the bridge for now and into the future, enabling us to be socially mobile. However, like the generations before us, our future will always be challenged with uncertainties as the external environment is dynamically changing. I am certain that our ability to explore and discover will enable us to circumvent these uncertainties and lead us to the right survival strategies. Let us be bold, bold enough to explore new ideas to ensure that our education system brings out the best in each and every one of us. Let us embolden ourselves to consider multiple education systems and strategies with different approaches, away from the "one-size-fits-all", to serve the varying individual needs, where our dreams and aspirations can become a reality. With the right education strategies, I am confident that we will progress as a nation with a heart.”
“How can the abstract concept of modelling be effectively and comprehensively explained to an eight-year-old child who is only two years into the primary school system? Is our education system, in its pursuit to be competitive, inadvertently taking away the joy of learning? How are our students supposed to spend time to explore and discover their love for Mathematics, if they are inundated with planning out models for problem sums today? Shall we not guide our students to discover what they do not know and assist them to explore alternatives, rather than providing concepts and solutions? I believe the ability to discover, explore and rediscover will have a more far-reaching effect in the long run. Our goal to become a resilient nation should embark on a "discover and explore" education system, continually. Ideally, education should be about allowing our children to explore the different subjects at their own pace and discover what interests them. Admittedly, it would not be easy to achieve. The need for standardised tests is one big obstacle preventing this. But challenges and obstacles have never stopped us as a nation, so why let them stop us now? A child who learns because he wants to will learn and retain much more than one who feels forced to do so simply because it will count towards his final grade. My concern is that the chase for grades will make our children lose sight of what is important – that it is truly a joy to learn new things. My concern is that the preoccupation with doing well and being the best will derail them from the essence of learning, which is to discover new things that interest them, that will fuel their curiosity and desire to explore and learn even more.”
“However, we must be careful that, in our pursuit, we do not limit opportunities for them. Admittedly, this is a difficult task and it is one that requires all stakeholders to work together – the Government, schools, teachers, educators, students and parents. But I am certain that this is a goal that is shared by everyone and it is within this shared goal that we can hope to take our first step forward in achieving national integration, where everyone moves forward together as one, with no one left behind and everyone thrives, based on their abilities without being limited by the system. Let us take this bold step together for the sake of our future generation. As we talk about the importance of developing skills rather than chasing for degrees, how have we seen the decision of parents and students change? Based on my observation, many parents still remain unconvinced that the days of the paper chase are over and that they are still pushing their children to strive towards degrees and paper qualifications. We need to look at why this is so. Could there be a lack of understanding of what it means to be future-ready? If so, then, clearly, outreach and education efforts need to be stepped up. Mr Speaker, our education system emphasises the concept of the joy of learning. Yet, if we ask parents, many may not see this as being true. Anecdotally, I have heard parents of lower primary students lamenting about how tough school work is for their children these days. For example, Primary 2 students are now expected to draw problem-sum models when, in the past, these are reserved only for the older primary school students.”
“As we work towards an inclusive society where no one is left behind, I think there is still much that can be done for our students and it has to go beyond lip service about levelling the playing field. Hard decisions must be made to look at how we can truly make the playing field level for everyone and how we can help mitigate the effects of the different circumstances faced by each child in order to help them succeed in school. It has to go beyond catchphrases like "future-ready" or "broad-based education". That may sound good. But is this well-understood by the average person? Can the common man truly see the reality? Just as we work towards building a society and a nation with a heart, our education system has to develop its strategies with a heart. It is about developing strategies that consider the child holistically and as an individual who is unique. We should consider to develop strategies that make pathways available to them that are truly meaningful in helping them to achieve their aspiration and dream and the true meaning of success. It is meaningless when the pathways are simply routes to the same destination as everyone else, but not achieving one's dream and aspiration. I regard our current education system as a "one-size-fits-all" approach, with minor tweaks here and there to cater for the incidentals which are away from the mainstream. We should be bold enough to take the step forward to consider multiple education systems and strategies with different approaches to serve the varying individual needs, a holistic system where every dream and aspiration is met. And I am convinced we have the ability and maturity to do this. Strategies have to take into account the child's abilities and shortcomings and turn these into opportunities to grow and thrive.”
“This is certainly to be expected as education has such a tremendous impact on our future generations and the state of our economy. Education also plays a major role in the social mobility of our citizens. We have repeatedly told our students, "Go, go and get a good education, and you will have a better future". And that is true, for the most part. But what if one's starting point affects one's ability to have a good education? What if one's circumstances present him or her with challenges and difficulties which hinder him or her in getting a good education? As an illustration, a child from a low-income family, in most cases, starts out at a disadvantage. Despite the assistance that they receive or that is made available to them, there is a high chance that their performance in school may still be affected by other factors, such as their living conditions, the strength of the family unit and others. Another example, a student studying in a cramped 2-room flat that is shared with another family might find it a struggle, compared to another who has the luxury of studying in a room of his or her own; or a student who has to stay up late to care for his younger sibling because his mother is working, is likely to find it harder to concentrate in school, compared to his classmate who does not have to. These are the very real circumstances that our students are going through and something needs to be done to help them. As Singapore progresses and develops further, we must ensure that every individual is sufficiently equipped to face the uncertain future. Let us make our education system a platform for all, to enable them to rise up in meeting with the new challenges.”
“This kind of education strategy needs to be holistic in nature, which focuses on the development of each individual, in order to explore the potential and grow the capabilities of each child, so as to help them achieve their dreams and aspirations. It will be meaningless if the education system merely provides pathways to a similar destination, without achieving one’s dreams and aspirations. Therefore, I would like to suggest, for consideration, multiple education systems and strategies, so that we can fulfil this aim. Let us take this step together and embolden ourselves to achieve this objective, so as to ensure a successful life for our future generations. The strategies that we create must take into account the abilities and shortcomings of each individual and transform it into opportunities to grow and thrive. However, we should also tread cautiously. In our eagerness to do so, we must ensure that it does not limit their opportunities. Admittedly, this is a difficult task. It requires all stakeholders – the Government, schools, teachers, students and parents – to join hands and work together. But I am certain that this is a goal that is shared by everyone. With this common goal, we hope that we can take our first step towards achieving national integration, where everyone moves forward together as one nation, with no one left behind, and each individual, whether children or adults, can thrive on their own abilities without being limited by the system. Let us take this bold step together for the sake of our future generations. (In English): Mr Speaker, I shall now deliver my speech in English. Education is an often-discussed topic that I foresee will continue to be hotly debated in the years to come.”
“Mr Speaker, I will deliver my speech first in Malay. (In Malay): [Please refer to Vernacular Speech.]: Hon Mr Speaker, I agree and acknowledge that we have a world-class education system, which, at times, is the envy of other countries. Our nation has developed for over five decades, during which time our education system has played an important role in our success. The Malay community, in general, has achieved success in many fields. We can see many young Malays now who are highly educated and attained their own successes. The focus on getting the right education is something that, undeniably, leads to all these successes. However, there are those within our community who are not as fortunate. As we strive and progress towards building an inclusive society, where no one should be left behind, I think that there is more that we can do for our students. We must be bold in our actions, beyond merely giving lip service about levelling the playing field for everyone. We must make hard decisions and take bold actions, no matter how difficult it might be, in order to create a level playing field. We must strive to mitigate the different obstacles faced by our children in order to help them succeed and achieve their dreams and aspirations. We must go beyond merely using buzzwords like "future-ready" or "broad-based education". These words may sound good, but are they well-understood or seen as reality by the man-in-the-street? Just as we work towards building a society with a big heart, our education system has to develop its strategies with a heart.”
“(d) Even if the information can be provided to the IPR holder after the seizure of infringed goods and security deposit has been placed and supporting documents are submitted, how do we ensure that such information is well-protected and does not fall into the wrong recipient? (e) Lastly, if there is a lapse in (d), is there any clause that states the course of action? Mr Speaker, the right to IP is as valuable as any physical property. Protection of IP rights must be taken with utmost importance and its infringement must be severely and appropriately dealt with. The IP (Border Enforcement) Bill is a step forward in the right direction. I truly believe that not only will it re-enforce our position as a champion of IP rights; it will also bring us as one of the many international IP hubs. With that, Mr Speaker, notwithstanding the comments and suggestions made, I support the Bill.”
“Pursuant to the EUSFTA obligation, it is my understating that upon request by the IP Right (IPR) holder, it is allowed to seize suspected infringing goods that are exported under the Copyright Act and Trade Marks Act, as stipulated in clause 12 section 140B of the Copyright Act and clause 65 section 82 of Trade Marks Act. Now, my questions: how does one qualify a suspected infringing goods as genuine? What would happen if suspected infringing goods are proven to be not correct? For the enforcement under these clauses, when can we expect that these are to be implemented and enforced? Similar to the above, the seizure of suspected infringing goods that are imported or to be exported under the Registered Design Act, when is this expected to be implemented and enforced? Will it be on a different timeline and schedule? Or will it be done at the same time as the above? Moving ahead, this Bill is also intended to allow Customs to provide IPR holders with names and contact details of any persons connected with the import or export of the seized goods in facilitating IPR infringement proceedings. These are stipulated in clause 4 of new sub-section inserts 140EA, 140EB, 140LD and 140LE of the Copyright Act. While I can see the rationale and merits to these changes, thus speeding up and facilitating fast and efficient IPR infringement proceedings, nevertheless, I have the following queries: (a) why was this not implemented before? Was there a specific reason that this has to be changed and implemented now? (c) Is this in any way related to EUSFTA?”
“Mr Speaker, the IP (Border Enhancement) Bill, which seeks to address and enhance our position as a champion of IP rights and our tough stand on IP infringement, has my full support. This Bill, which also runs in tandem with the Copyright Act, the Geographical Indications Act 2014, the Registered Design Act and the Trade Marks Act, is timely and in accordance with our obligation under the proposed FTA between the EU and Singapore. A report made in September 2017 by the International Property Rights Index, which ranks countries according to their protection of physical and IP rights, has placed Singapore as the best in the region for protection of IP rights. An article reported by Forbes last year, stated that numerous global studies revealed that countries with the strongest IP protections have the tendency to employ more full-time researchers, leading to greater investments in research and development (R&D) and Foreign Direct Investment. This results in large portions of their workforce in higher paying IP-intensive organisations and industries. Thus, inventions, artistic works and brands are meaningless and determined to have no value without IP rights. It is estimated that income per capita to be 13 times greater in countries with strong IP protections than those with weak protections. With no natural resources, and human capital as its only offering, it is by no chance that Singapore will have to emerge as a champion of IP rights, competing with other developed economies. While I support the Bill, I would like to highlight the following concerns with regard to the Enhanced Border Enforcement Measures under EUSFTA.”
“I have one supplementary question. Can the Senior Parliamentary Secretary share with us how many students were under FAS in 2017? Assoc Prof Dr Muhammad Faishal Ibrahim: I do not have the figures right now. If the Member would like to, he can file another Parliamentary Question. Nevertheless, I assure the Member that we want to help as many students as possible. We are committed to providing quality and affordable education to all Singaporeans, regardless of their financial circumstances.”
“I thank the Senior Minister of State for the elaboration. I have one question. I notice that upon approaching the zebra crossing at every crossroad, it is quite common, at least for me, to see that the PMD riders do not stop but just rush through. Is there a way that we can do something at the crossing so that they will slow down and not rush through the zebra crossing because their speed is much faster than that of the normal pedestrian's? I guess Members know what I mean, right?”
“While these scenarios are likely and can possibly cause conflict between generations, I believe our Government, and especially the 4G leaders, shall have the wisdom to ensure the needs of all Singaporeans are satisfactorily met and not at the expense of others. But we must remind ourselves that again, success can be truly measured by how we advance and progress together as a whole, and this sometimes entails making small sacrifices to ensure those in need are not neglected. Mr Speaker, Sir, the future is fraught with uncertainty, and this has caused some degree of anxiety among all Singaporeans. However, I am certain that if we band together and lend support to one another, we can emerge stronger through the adversities and challenges. Let us work together and achieve the exceptional nation we want to become. Mr Speaker, Sir, with that, I support the Motion. 4.16 pm”
“Only when we keep a look out for each other and ensure we advance towards the future together, can we then claim to be a society with a heart. There are many facets in building a society with a heart. Apart from encouraging Singaporeans to be kinder, more empathetic and generous, the Government too has a responsibility to ensure all segments of Singaporeans are well taken care of and division does not happen. Mr Speaker, Sir, when we speak of division or divide, we often focus on the socioeconomic divide but we rarely discuss the potential of an inter-generational divide. We owe our thriving city to our parents, grandparents and the generations before them who helped mould Singapore into the country it is now. However, enough time has passed that some of us may have forgotten their contributions and take them for granted, leading to inter-generational conflict. As we have all been made aware, a rise in taxes in the near future to support an ageing population may be expected. But while Singaporeans have so far accepted tax increments to help fund subsidies for vulnerable groups, including the elderly, unhappiness may arise among other groups if this were to continue in the long run. Our younger citizens may demand a reduction in older citizens’ benefits or expect similar benefits for themselves in the future, leading to inter-generational conflict. A rising number of seniors may also want to remain in their last jobs or aspire to better jobs while the next generation is eager to take over positions at the top. This could heighten job market anxieties among the young, particularly if special provisions are made for older employees to retain their jobs for a longer period.”
“(In English) Mr Speaker, please allow me to continue my speech in English. In the President’s Address, President Halimah reminded us of the need to continue progressing and to build an exceptional nation. In the Address, her Excellency encouraged us to consider taking bold steps to challenge the status quo, if it can lead us to reach the pinnacle of "extraordinary". Encouraging the 4G leaders to explore and to do what is necessary to make Singapore an exceptional place, I am heartened. Not only should we achieve economically, but also achieving as a gracious society, and society with a heart. However, the volatile, uncertain, complex and ambiguous (VUCA) world that we live in now means that challenges abound for all of us. Each challenge means differently to each of us. Some of us may thrive, while some may falter. My fear is that in our zealousness to face and overcome these challenges head on, we may forget the ones who are struggling and falling behind and eventually forget how to be a society with a heart. Mr Speaker, Sir, the truth is, I believe success should also include and be measured by what you do to help others to succeed too, and help the whole society progress together, with no one left behind. When the future is uncertain, the most vulnerable tend to be at a higher risk of needing financial and social help. But, surely, those who are better off will feel a certain amount of anxiety as well. When that happens, does it mean they will tighten their purse strings and keep their wealth for a rainy day instead of helping others who are in dire need of help? I hope not. I hope that we, as a society, will do our part in helping others overcome the challenges associated with a VUCA world, be it through volunteer work, donations or some other ways.”
“The expertise of someone with a successful career can be used to benefit society through sharing sessions and exchanging of intellectual ideas. For example, our youths can benefit from people with rich experience who become mentors to those who need it. Mr Speaker, I would like to appeal to those who have succeeded, let us together ignite the spirit of helping one another – take the first step, and introduce yourself to society and the organisations; contribute as much as possible and help the community in any way you can. Furthermore, in order to answer the President’s call that we become an exceptional nation and society, we must be bold enough to challenge ourselves in terms of the current way of running things. It is impossible for us to become an exceptional society if we do not change our ways. Change must come first if we wish to achieve progress and success. Although our community has progressed and achieved success in many areas, we are still hampered by social issues. Obviously, this is a problem that we are not proud of. I admit that many efforts have been launched and implemented. However, the outcomes are less than satisfactory to me. Let us all step forward as one bold community and review all the current platforms like the Community Leaders Forum (CLF), so that it stays relevant and functions as our community’s launchpad that can fulfil our aspirations and meet the challenges in the coming years and decades. Let us unite as a society with a heart and be able to work together so that our community can progress and prosper, in line with the nation’s objectives. Mr Speaker, as the Malay proverb goes, "We carry the load together, whether it’s heavy or light", so let us build one nation together and make our community exceptional.”
“I am confident that those who are able to adapt can survive, ending in success and progress. The need to adapt is not limited to any particular community, and no one is exempted. Instead, every member of society needs to adapt and change with the circumstances. This includes our Malay community. In general, based on official figures, evidence and anecdotes, we can see more and more Malays who have achieved the pinnacle of success. We are presented with many success stories about the community. There are more Malays in leadership positions, as well as holding key appointments in various organisations and companies – in both the public and private sectors. However, as I mentioned earlier, we need to measure success holistically, by looking at how far the whole society has progressed together, with no one forgotten or left behind. Mr Speaker, this means that while we celebrate those at the pinnacle of success, we should not forget those who may have to struggle in their daily lives. Since the Malay community is a small community, this means that the "gotong royong" spirit of helping one another can be easily implemented and expanded. Therefore, I would like to call on those who are successful in life to step forward and give back to society. Let us all help not only those in need, but also the whole society. Helping someone does not necessarily mean giving financial help solely. In fact, help can be rendered in many forms, for instance, spending some time to help out or contribute ideas to organisations that need it. There are many Malay bodies that are constantly looking out for capable members of the community to serve in their board of administrators and work together in community service projects that are co-organised.”
“Good afternoon. I think I will have a tough job today. First and foremost, this is the speech after the Prime Minister; secondly, with all the Ministers in front of me, even much tougher now. Anyway, I have to do the job. Mr Speaker, Sir, please allow me to deliver the first part of my speech in Malay. (In Malay): [Please refer to Vernacular Speech.] Hon Speaker and my fellow hon Parliamentary colleagues. As we prepare to face an uncertain future, we should always remind ourselves that we need to move forward as one people and one nation and ensure that no one is forgotten or left behind. In our search for success to achieve prosperity and stability, let us not forget those who may struggle in this race of life. I am quite concerned with our highly competitive life – whereby "success" is measured solely from one’s economic status or the position that one achieves in one’s career – to the extent that sometimes, we forget how to be a society with a heart. Mr Speaker, my worry is that we will forget to be gracious and courteous, to be friendly, generous, humble, and empathise with one another, to the point that we are only focused on achieving what we deem to be "success" in our eyes. In my view, success should also be measured based on, and by including, the things that we can do to help those in need so that we succeed together, and help the whole society progress together, regardless of race and religion, so that no one is left behind or forgotten. The global situation remains volatile, uncertain, complex and ambiguous, or what is known as a VUCA world, so it is important that we continue to learn and re-learn, so that we can be resilient. Disruptions and economic changes, whether globally or locally, are clearly becoming more frequent, and this requires adaptability.”
“Therefore, it is imperative that we should strive to achieve a healthy competition scenario, striking a balance between an open and free market economy against a regimented one. Like many situations, an acceptable and optimum condition can only be achieved if the surrounding parameters are monitored and managed. The Competition Bill and its amendments are intended to do so. With that, Mr Deputy Speaker, notwithstanding the comments and suggestions I have made, I support the Bill. 5.14 pm”
“My question is: does this mean that the Commission can still decide that the merger is prohibited under section 57 after giving advice to the contrary earlier? Take note section 57 states that a party to an anticipated merger must notify the Commission and apply to it for a decision. The Commission will then decide if such a merger is lawful. And also note the difference between an advice under section 55A and the decision under section 57. Mr Deputy Speaker, another point which I would like to highlight is the proposed amendment in clause 7(a). Currently, the Commission may only require companies to undertake commitments for the prohibitions under section 54. With the replacement by the new section 60A(1A) and 60A(1B), this will allow the Commission to require and accept from companies a commitment where they have been found to restrict competition under section 34 and require and accept from companies a commitment where they have been found to abuse their dominant position in a market under section 47. Here is my next question: will this make it easier for companies to bypass the competition law now that commitments may be accepted with respect to all the prohibitions of the original Act? Mr Deputy Speaker, Sir, I would like to hear from the Ministry if the above questions I posed are valid and correct. Could the Ministry shed some light on this matter? Healthy competition is expected to benefit consumers by and large. As mentioned earlier, the outcome of healthy competition should reach an optimum offer to consumers and settle to an equilibrium: low enough for consumers to benefit and enough for business owners and retailers to profit. It is an ideal case where competition is doing its job.”
“Will the result of a particular M&A make the competition healthier which results in a better situation for the customers and end consumers? If yes, then it is deemed as a good M&A. However, if otherwise, then this may result in an unhealthy market situation, which is not preferred. Mr Deputy Speaker, in such an unhealthy case, it would be wise that some sort of regulation and monitoring mechanism to be put in place, so as to ensure that an M&A will not result in such a situation. Therefore, the Competition Bill and the amendments that are being put in place are highly welcomed. It is important to note that while we would like to regulate, it must not stifle the open market framework with the aim towards healthy competition for the larger benefit of the consumer. Thus, the Competition Bill and its proposed amendments are welcomed as they are intended to ensure that the healthy competition landscape is being safeguarded. Mr Deputy Speaker, I would like to go to the second point of the 15 proposed changes to the Competition Act made through the Competition (Amendment) Bill. I would like to highlight significant amendments in sections 60A(1A) and 60A(1B). These provisions empower the Commission to accept commitments for cases involving: (a) Agreements, decisions or concerted practices that may have the object or effect of preventing, restricting or distorting competition within Singapore; or (b) Conduct on the part of one or more undertakings that may amount to abuse of a dominant position in any market in Singapore, in addition to the current power to accept commitments for mergers which may result in a substantial lessening of competition within Singapore.”
“This delicate situation needs to be intelligently considered, as we would also like our SMEs to be able to benefit from the global market. Vice versa, our SMEs will automatically be faced with competition at home from overseas competitors, as reciprocity is expected if we are to be given the opportunity to explore overseas markets. As such, just like I have mentioned before, it would be wise, I think, if we revisit the Competition Act, to consider this aspect towards our local SMEs and small retail businesses, when making future amendments. I hope the relevant Ministry will be able to consider this suggestion. Mr Deputy Speaker, in a free market economy which we adhere to, the market forces should determine the market trajectory itself. Expansion and collapse of business entities are left very much to market forces and individual business decisions. While there could be instances of bailout situations, perhaps due to extreme and detrimental cases, more or less, private business entities decide on their course of action. Mergers and acquisitions (M&A) may be one of the inorganic growth strategies undertaken by private business entities in trying to expand their business in the market. However, if left unchecked and unmonitored, the impact of M & As can be detrimental. Having gone through personally three M&A events during my career, I have witnessed both the upside and downside of an M&A. While it is expected to bring positive end results for business in an M&A, more often than not, the downside will be on the restructuring process which will most probably result in manpower redundancy. More worrying is the impact to the market after an M&A on competition.”
“While open competition has taken its natural course, its impact can be devastating for some whose income may solely depend on this traditional business. I would like to suggest that the Ministry, while crafting future amendments to our Competition Act, might want to revisit how we can protect and preserve our traditional business. Just like when we have an Act to protect and preserve some old buildings and monuments, we might want to do the same for some of our traditional businesses. I am certain that we will be able to strike a balance between keeping our traditional businesses afloat and opening our market towards open competition. Apart from the traditional and typical neighbourhood retailers, our small and medium-sized enterprises (SMEs) are also facing stiff competition from global overseas players. This is inevitable as we have an open market which is riding on the global economy. While there are merits to this chosen framework, the impact on the local scene is devastating for some. Again, the survival of the fittest will weed out the smaller players. More often than not, our SMEs and small business retailers will be the victims of such an onslaught. Our SMEs are our key workforce driver, providing more than 60% of jobs to our local workforce. It is imperative that our SMEs are protected, as they play a key role in our nation’s economic growth. While we advocate and practise open competition, we must be mindful of the impact it may bring if it brings along with it a negative impact which is detrimental to our nation’s economy. While I am not against open competition, which can be healthy, we should and must try to give some level of assurance to our SMEs and small retailers that due consideration is given to them in this competitive environment.”
“Mr Deputy Speaker, in my speech today, I will cover two areas. First, the onset of competition and its merits and demerits; and, secondly, the concerns on the proposed amendments, namely, section 60A(1A) and 60A(1B). First, let me cover the onset of competition and its merits and demerits. Singapore professes and practises an open economy and its market is more or less driven by market forces. This should lead to healthy competition. It is believed that an open market with healthy competition will lead to competitive prices offered to consumers. A healthy competition would also weed out the non-performers. Non-productive and non-competitive business players and retailers will automatically be driven out of the marketplace. New players will emerge and offer a more competitive product. Thus, the cycle of elimination repeats itself. Like the law of the jungle, the survival of the fittest seems to be the rule of the day. Thus, overall, the outcome should benefit the consumer and prices offered will reach its optimum and settle to an equilibrium that is low enough for consumers to benefit and high enough for business owners and retailers to profit. It is an ideal case where competition is doing its job. While we can see this from the consumer standpoint, which is positive as the consumer stands to benefit from this scenario, there also lies the dark side to this so-called healthy competition. Open competition has resulted in many traditional and typical mom and pop retail shops being squeezed out of their traditional home-ground, that is, the heartlands, with the influx of retail giants into the heartlands. This has caused a lot of unhappiness with small business owners.”
“I thank the Minister for the answer. May I know what is the appropriate target that MENDAKI has set in order to have this so-called repayment rate to be acceptable? Assoc Prof Dr Yaacob Ibrahim: Sir, the overall circumstance has to do with the amount of reserves that we need to keep in MENDAKI. MENDAKI is a Self-Help Group. If you check with the National Council of Social Service (NCSS), the guideline is about two to three years of reserves. In case something goes wrong, we have some money. So, we need to balance all of this. It is not just about the loan, because part of the loan that we are able to save goes into our reserves. So, the financial analysis is on not just the loan but the overall needs of MENDAKI in order to service the programmes we have committed to. I am not at liberty to say how much we have now at the moment, but we are trying to build up our reserves so that at the end of the day we can find that right balance.”
“Mr Chairman, I have a question for Minister Yaacob Ibrahim with regard to MENDAKI loans. I presume at this time there are some who are unable to redeem the loan or pay back the loan. Can the Minister share with us how much in terms of statistics that this is now happening? Assoc Prof Dr Yaacob Ibrahim: Sir, it is a good question. We are studying it to ensure that whatever loans that we give and the rate of repayment can allow us to have a sustained programme. I can safely say that in the last few months or at least a year or so, MENDAKI's staff have been working very hard to be able to get repayment. We understand sometimes when the circumstances do not allow it, because of circumstances, because they cannot get a job, we are prepared to delay. But over the years, the numbers of delayed payments have come down, and I think that is very good news for the community. I am not at liberty to share the details. We are doing a deep dive to ensure that we have the right policy level to ensure that Malay/Muslim students who need study loans are given the right quantum with an assurance of their ability to pay back because the money does not belong to us, it belongs to the community. We just want to make sure that the repayment rate is in such a way that we can sustain the loans that we give out and what other expenditure MENDAKI needs to make use of.”
“By offering tiered grants, it will encourage our organisations, both SHGs and VWOs, to improve their processes, governance and standards as well as quality of programmes and services, leading to a more vibrant VWO sector which can only benefit more Singaporeans. Sir, the suggestions made above are not just an attempt to ensure that good and performing VWOs or SHGs are rewarded but also encourage them to perform even more and they are most probably capable to do so. Eventually, it is hoped that more beneficiaries can be reached and served and this can only be a positive development for Singapore. Narrowing the Gap Assoc Prof Fatimah Lateef (Marine Parade): Sir, self-help groups have been a unique feature of our Singapore model of assistance and collaborative community work and outreach. They offer various forms of assistance and social service and are instrumental in uplifting certain parameters in our communities. Every year, these organisations will disburse financial and educational assistance as well as bursaries and other forms of help. There, however, exist some grey areas and overlap. Some of the reasons for the rejections are not truly clear and there are speculations and certain conjectures, for example, race could be a reason. So, therefore, how many such cases of rejection have MENDAKI been getting over the last three to five years and how are they handled? It is important for us to know and understand this because we want to know how many fall through the cracks yearly and also how we can work together to assist these people. Detailed analysis of the causation and other parameters will be helpful to understand as we, together, vow to strengthen our community outreach. Malay/Muslim Organisations”
“Ultimately, a reduction in funds leads not only to operational challenges for the organisations but may also exacerbate challenges for Singaporeans in need as their needs are left unserved. Right now, the eligibility criteria for matching grants are unclear. Similarly, when a matching grant gets re-allocated or reduced, the criteria applied to determine how this is done are also not made clear. Clear criteria will help organisations to better understand their qualification. This will help Government funds to be fully utilised to benefit Singaporeans. At the same time, it will also encourage VWOs and SHGs currently not eligible for matching grants to start taking measures in order to meet those criteria. With that, would the Ministry be willing to share the criteria? May I also suggest that the following criteria be included if they are not already? First, the integrity and maturity of the VWOs and SHGs; and second, the outreach the SHGs and VWOs had achieved in previous years. These criteria can help to determine which organisations can qualify for the matching grant and what the cap for the grant could be. Integrity and maturity of VWOs and SHGs would be a useful measure of whether they would be able to utilise the funds appropriately. VWOs or SHGs that have long been established and have a good track record in terms of governance and the programmes and services provided should be accorded a higher cap in the grant. Similarly, an organisation that has a good record of outreach historically could be given even a higher cap.”
“Chairman, Sir, the dollar-for-dollar matching grant offered by the Government to self-help groups (SHGs) and some voluntary welfare organisations (VWOs) as well as Malay/Muslim organisations thus far is well received and has gone a long way in helping these organisations extend their outreach and help to those in need. Many of these organisations often tapped on the same pool of donors and this limits their fundraising effort to a certain extent. Thus, the matching grant that the Government provides helps ease the load for many of them. Over the years, the Government has made injections to the various grants enabling organisations to benefit more from the grants. However, there have also been instances where the matching grants have been reduced or re-allocated from the organisations. When this happens, it means these organisations have to work even harder to raise their own funds to make up for the shortfall from the deduction of the dollar-for-dollar matching grant. This can also distract the organisations from focusing on what they should be doing best, that is, providing programmes for community benefit rather than spending time to look for funds. It may be made worse when a matching fund can become the end game of these organisations. During times of economic downturn, raising funds becomes an even bigger problem when people are less likely to donate and yet, at the same time, the demand for the services provided by these organisations increase. So, this, essentially, means the organisations may be in a situation where the number of clients in need increase and yet their funds decrease. This may end up in organisations having to scale down their operations or the extent of their services, causing them to be unable to serve those in need effectively.”
“Rather, Government grants and large donations from foundations, philanthropies make the difference on whether a new programme can be launched and implemented effectively. As such, while a 250% tax deduction is appreciated by all, I am of the opinion that more can be done to make it more attractive, especially donors from the upper-income band. To encourage more Singaporeans to donate, I would like to suggest a model for progressive tax deduction for donors which will take on a similar approach to the progressive tax imputation on our income received. This proposal will mean that instead of a flat rate of 250% for all donations, the tax deduction rate increases with a quantum of donation given. Much like how incomes are broken down to bands to compute income tax rates, the same can be done for donations. Tax deductions can begin at 200% and increase in quantum of 50% reaching a maximum rate of 500%. The suggested model will make donating large amounts more attractive. As such, the objective is not only to encourage more donors to donate, it will encourage high net worth donors in our midst to donate even more which will benefit our charities and organisations. This, in turn, will mean that the organisations will have to develop new and better programmes to extend their reach to others who may be in need but have yet to be served. All in all, such a progressive deduction tax model will have a far-reaching effect that will benefit Singaporeans as a whole. I truly hope that the Government can consider the suggested progressive tax deduction for donors and study on its feasibility for implementation. Tax Deductibles for Private Hire Drivers”
“Respondents were asked if they had done the following in the past month: first, helped a stranger or someone they did not know who needed help; second, donated money to charity; third, volunteered their time to their organisation. In terms of donating money, Singapore was the 19th most generous country in 2016. Although the ranking has dropped for the past two years, the percentage of Singaporeans who donated money has increased from 55% in 2013 to 58% in 2016. It is heartening to hear from the Minister that 250% tax deduction for qualifying donations will be extended for another three more years until 2021. I am certain this gesture is very much welcome by charities and organisations alike that depend on donations to fund their operations. They rely on these tax deductions as a way to encourage donors to donate to their organisations. I believe it is a significant quantum to donors which could make a difference between giving more or remaining as it is. The 250% tax deduction promotes the spirit of giving among Singaporeans and encourages them to play a part in contributing back to the society to help others in need. This can be seen by the increase in donations by $0.7 billion dollars between 2011 and 2015. While this increase is good and encouraging, is it enough? My time with the non-profit organisations has shown me that a large injection of funds is sometimes needed, especially when initiatives and programmes need to be rolled out. The large cash outlay goes towards recruiting new staff, setting up new infrastructure, training existing staff and other expenses needed to kickstart a new programme. This need for a large amount of funds often cannot be solely supported by donations received from the public.”
“Similarly, I think we can adopt the same approach in allocating the SG Bonus to our fellow Singaporeans. Taking a conservative approach of 15% and still keeping a reasonable high savings of 65%, I suggest we adopt a 65:20:15 ratio for our savings, our subsidies and our SG Bonus allocation. I believe this will serve the future, near term and now with the amounts of $6 billion, $2 billion and $1.6 billion from the total surplus of $9.6 billion. If this baseline model is reasonable, could this become a precedent to future surpluses as long as it is financially prudent to do so? If yes, this will be in line with the Government's long-time commitment for sharing the fruits of the nation's development with fellow Singaporeans. Sir, I would be happy to hear from the Finance Ministry on how they arrived at their model if it is available. Progressive Tax Deduction for Donors Sir, while we move up the ladder to become a gracious and caring society, we should not and must not be over dependent on the Government to fork out grants and subsidies. Instead, we need to build an ecosystem where the substantial part of giving is to be generated from the society itself. We need to find a way and establish a system which is sustainable, where giving has become a pleasure and giving is highly motivated. A system of recognition and reward should be explored in trying to encourage more giving. In a report in January 2017 made by SPD, formally known as the Society for the Physically Disabled, on the World Giving Index 2016, 140 countries across the globe were surveyed in 2015. In most countries surveyed, 1,000 questionnaires were completed by a representative sample of individuals living across the country.”
“Chairman, Sir, Finance Minister Heng Swee Keat's announcement on the $9.6 billion Budget surplus out of fiscal year 2017 is definitely a pleasant surprise. It is more than five times the initial surplus forecast of $1.9 billion. It is news every Singaporean welcomes. While there is no hard and fast rule on how a surplus is to be distributed or what and where it should be allocated to, I would like to mention that the proportion is highly skewed towards savings for the future. If my calculations are correct, about 72% of the total surplus is being saved which means $5 billion plus $1.9 billion over the $9.6 billion. Sir, I am not against saving. I do support saving but I thought this matter is worth mentioning. I think that the distribution is highly lopsided on the savings side. So, what would be the right distribution? What model should we adopt when there are surpluses? How can we arrive at a distribution model which serves the interests of the now, the near future and the future? Should we not derive a baseline where the distribution and allocation models are acceptable, just like our Net Investment Returns (NIR)? Sir, I would like to share my views and suggestions. These suggestions or views should not be the only ones considered. They are also not necessarily the best. They can serve as an exercise to get a discussion going to arrive at a baseline for future use. Taking a corporate approach, it is quite normal that companies distribute dividends to shareholders after having posted positive results. We can frame our surplus distribution model vis-à-vis the dividend payout policy of a company. It is quite normal that a company makes a dividend payout to its shareholders amounting to 15% to 20% of net income.”
“I suggest that our people, including the Malay community, pay close attention towards this development. Therefore, I suggest that our young Malays be exposed to and learn to master the Chinese language. This can increase the possibility that, in the future, our children can compete more confidently. Can the Council for the Development of the Singapore Malay/Muslim Community (MENDAKI) take steps to offer classes and sessions that teach the Chinese language? I am sure that if our children can at least converse in Mandarin, they will become more confident and have more opportunities in the future. (In English): Mr Speaker, the Singapore spirit is prevalent in Budget 2018, as highlighted by Minister Heng. In wanting to move forward and progress into the future with certainty, clear themes and strategic initiatives have been outlined and, at the same time, not forgetting to be rooted and stay humane as a caring society. While I opine that there is still room for further improvements, I believe it is a Budget which is inclusive and progressive. Notwithstanding the points I have highlighted, I support the Budget.”
“My disadvantage at the present moment is that I am unable to communicate fluently in Mandarin. I am quite weak in the Chinese language and I know only a little bit. Even so, I was determined and explored the China market. To be frank, I faced difficulties. I feel that mastery of the Chinese language can act as a catalyst if one wishes to explore the China market, which is and will continue to grow rapidly. The China market and its state economy have been developing rapidly over the past 20 years. At the moment, this largest global economic nation in Asia, will continue to expand on the basis of its own economic policies. Its policies are rather different compared to capitalist economic policies practised in the West. Its economic policies with a communist character will continue to be implemented so that China can develop into the largest global economy and overtake the United States (US) economy. In my view, this appears to be its long-term objective. If this occurs, we will have no choice but to face this outcome and deal with it. During an economic forum organised by the New York Economic Society in 2015, the Chairman of Alibaba – which is one of the largest firms in the world – Mr Jack Ma said that his country is making preparations so that China will not only remain as a manufacturing and exporting country, but it will also continue to rise and it dreams of being a country that can import and consume. At the moment, statistics show that the consumer segment in China will grow from 50 million people to 300 million in the coming years. When this happens, China’s purchasing power will become a very huge attraction. It will also become the centre of the global market which will change the way we do business in the future. This is a development that we cannot ignore.”
“Mr Speaker, I would like to suggest that the cost of borrowing under such circumstances to be financed through the return generated from the investment of the Reserves. In this case, the consumer will not be burdened by the additional cost of borrowing, which is the result of a new financial framework on expenditure of major infrastructural projects. Mr Speaker, I shall now deliver the following speech in Malay. (In Malay): [Please refer to Vernacular Speech.] First and foremost, I would like to express my appreciation to Finance Minister Heng Swee Keat for the delivery of Budget 2018. It is, by and large, a very interesting one. In my view, Budget 2018 is an inclusive and progressive Budget. What is even more interesting is the new approach towards financing major and infrastructural projects in the future. The current SG Care programme is also being finetuned and enhanced. New offerings are introduced to further complement self-help efforts by the people, with the aim of making it comprehensive. Generally, it is quite balanced. Primarily, this Budget aims to prepare Singaporeans into the future, in terms of an advanced and progressive economy, as well as in terms of capabilities. It is based on the three major shifts in the coming decade, which are: a global economy that appears to be tilting towards Asia; the emergence of new technologies that are expected to change how we live, as well as the way we work and play; and ageing. I would like to touch on and give my views on several worrying issues, if these have not been addressed or given close attention. As a corporate executive who has been involved in the engineering field for a long time, as well as in the largest Asian market, China, I would like to share my experiences.”
“Henceforth, the decision to save part of the surplus for savings ahead is a right move. However, the sharing of $700 million with Singaporeans, which only accounts for 7% of the total $9.6 billion, I thought that is on the lower side. Perhaps more should be considered. What should it be? From my experience in business, it is quite normal for a business organisation to share between 15% and 20% of its net income profit to its shareholders as dividend. Likewise, the same rule can be applied here, with the remaining to be retained as savings for use in financing near-term programmes. What struck me about Budget 2018 is the fundamental change in the way how major and infrastructural projects are to be financed in future. I thought this is a clever way of managing our finances. However, this can only be true if our Reserves yield a return which is higher than the cost of borrowing by the various Ministries when undertaking the major and infrastructural projects. Based on past data on return on investment on the Reserves, I am confident that this is the case. What I would like to point out is that there will be costs incurred for any borrowing. It is not free. There is no such thing as a free lunch. As major and infrastructural projects will have to be financed through borrowing, thus, the overall cost of these projects will be inflated by an additional amount equivalent to the cost of borrowing. As we all know, at the end of the day, whatever cost incurred will have to be borne by the customer or consumer. Be it the new high-speed rail project or Changi Terminal 5, it will be no surprise that this additional cost will be at the consumer’s cost.”
“We must instil the sense of civic duty and ensure that everyone is not left behind. Be it young or senior, able or disabled, capable or not, everyone must and should be taken care of. And we have SG Cares as a platform to help us formulate and sustain our system of caring. Let us make it a success, together. The feedback from my interaction with various and numerous community leaders on this matter has been very positive and encouraging. The continuation of support programmes is highly appreciated. It is also worth mentioning that the effort of integration of healthcare and social support for seniors has been very much welcomed. This is expected to improve efficiency and efficacy when dealing with intertwined eldercare programmes, which have proven to be needed in our ageing society. While we move up the ladder to becoming a gracious and caring society, we should not and must not be over dependent on the Government to fork out grants and subsidies. Instead, I believe we need to build an ecosystem in which a substantial part of giving is to be generated from the society itself. We need to find a way and establish a system which is sustainable, where giving is becoming a pleasure, and giving is highly motivated. A system of recognition and reward should be explored in trying to encourage giving. Mr Speaker, I suggest we should look into how donation can be made more interesting. Perhaps a progressive tax system for donors may be worth studying. I shall be elaborating on this in more detail during the Committee of Supply (COS) Sitting. The surplus of $9.6 billion accumulated in our financial year 2017 is very surprising to me. While this is good news, I believe it is not a guaranteed recurring item.”
“In Budget 2016, when I was a rookie Parliamentarian then, I did bring up the same topic on innovation and the culture of inquisitiveness. I mentioned that innovation is an intangible capability and competence which needed to be nurtured with time. And it is important that this starts at a very young age and in schools. I had also suggested five actions then. I hope the suggested actions can be taken up for further discussion and reconsideration. While I am not rejecting nor dismissing any of the suggested initiatives, I thought the fundamental approach to fostering pervasive innovation is still missing. Thus, Mr Speaker, I would like to suggest that a more fundamental approach towards fostering pervasive innovation to be reconsidered. With what is suggested today, I am not confident we will have a sustainable pervasive innovation landscape. Let us do the right thing and do it right together. Mr Speaker, the thing that melted my heart about the Budget, albeit all the economics and business concerns and the slew of initiatives and suggestions to ensure us and our future generation a better future, is the re-affirmation by the Government towards achieving a caring and cohesive society. It is so heart-warming to see current running and new programmes and initiatives being rolled out concertedly, either enhanced or finetuned. The SG Cares initiative has proven to be alive and serves as a national platform towards the spirit of a caring and giving nation. Be it for individuals and families or senior citizens, there is always something for everyone. While it may not be complete, I believe the carpet has been rolled out and we just have to improve it year on year. Our success as a nation should not only be measured by economic indicators alone.”
“These two will take up at least 50% of any business operation costs in Singapore. Thus, Mr Speaker, I would like to suggest on any form of financial help to be formulated for business operators, especially the small and medium enterprises (SMEs), to lessen their burden due to premises rental. I would even go one step further – it would be great if we can find a structural solution to this. Hopefully, we can hear good news in the next Budget year. Next, I would like to touch on fostering pervasive innovation. I was glad and delighted when I learned that innovation is mooted as one of the suggested initiatives in pushing forward towards a vibrant and innovative economy. Upon scrutinising the numerous offerings, while I am appreciative and glad to see good ones on the table, I still felt incomplete. From financial tax deduction to the promotion of National Robotics Programme, I thought these are initiatives that touch on the surface. At most, it will only give a scratch. What I thought was missing is the soul of innovation. Mr Speaker, I hope I am not being taken wrongly. Like I said, the numerous initiatives being suggested are all good. In fact, I support them. Being a person myself who has been involved in technology and innovation for more than 30 years, I am very passionate about innovation. What I thought worth mentioning is the creation of the innovation spirit. Unfortunately, I am unable to relate nor equate any initiative which supports the creation and building of the innovation spirit. I had expected more to be done in our education system and curriculum that foster the spirit of innovation. I was looking forward to a more fundamental shift which is so pervasive that it will become a basis in reshaping our innovation landscape.”
“Mr Speaker, I shall deliver my speech in English and Malay. First and foremost, my appreciation to Finance Minister Heng Swee Keat for the delivery of Budget 2018. I must admit that I am impressed. In fact, I would say it is a very clever Budget, especially on the fundamental change in the way major projects are to be financed in the future. It is a Budget that I consider as inclusive and progressive. It is heartening to see a well-balanced palette of offers and initiatives being laid down for all Singaporeans. Primarily, this Budget prepares us into the future, both in capacity and economics, based on the three major shifts in the coming decade and yet mindful of the well-being of fellow Singaporeans. Though I mentioned I am positively impressed with the Budget, I am of the opinion that it is not a perfect one. There is still room for improvements. I shall not and will avoid being too picky. Rather, I shall mention those which I believe warrant attention and I hope Minister Heng can reconsider them. Let me touch on the issue of overcoming near-term challenges. The move to extend the Wage Credit Scheme (WCS) and all other related initiatives in continuation of support to firms in coping with near-term costs is rightfully addressed as they are directly linked to manpower, for example, Foreign Worker Levy (FWL), which is one of the major components of business operating costs. I thought one component which is as critical, if not even more so, is premises rental. I feel this is missing and I believe this would make a big difference if the Budget could take this as one of the many initiatives to help businesses in the near term. As we know, two major components of business costs in Singapore are manpower cost and premises rental cost.”
“One question for the Parliamentary Secretary. The Parliamentary Secretary mentioned that there are 5,000 cameras already implemented. How many are there to go?”
“I have a supplementary question for the hon Senior Parliamentary Secretary. It is good to know that there are internship programmes at the ITE. It is good to know that there are also target objectives for the institution. But I would like to know whether these targets have been deployed and brought down to the lecturers. Are these lecturers also being measured on whether they have done the internship programmes correctly on them?”
“It is my hope that the regulatory framework be regularly reviewed with higher frequency and in tandem with the fast-changing Internet landscape. With that, Mr Speaker, I wholeheartedly support the Bill.”
“It spread through malicious emails with booby-trapped Microsoft (MS) Office document. From there, it downloaded and ran the installer and released the software virus and spread unknowingly. This had a devastating effect as it attacked the purported highly secured Master Files which are the basis of the file structure system. Mr Speaker, in all the cases highlighted, the cyber intrusion and cyberattack were uninvited and unlawful. It was made with malicious intent with the objective to create havoc and misery to all parties, including individuals, agencies and institutions. It undermined the confidence of everyone. Such acts must never be condoned as it will only lead to unhappiness, anger and loss of faith. I regard such acts as similar to any physical attack on a person, as the consequence from such attack is dire, if not even more. From mental anxieties for having felt violated in their personal space to loss of valuable data and information on one’s Internet-linked devices, such as a computer, mobile phone and others, becoming a victim of a cyberattack can lead to serious consequences. It could even be far-reaching as the outreach from a cyberattack can be wide and endless. Mr Speaker, it is always hoped and wished that the relevant authorities would be able to act appropriately and accordingly when such things happen. Thus, the Cybersecurity Bill, which is aimed at establishing a working framework in the management of and in response to cybersecurity threats, is very much welcome. In addition, a regulatory framework over the owners of CIIs and cybersecurity service providers will provide an added boost in ensuring that Singapore has a robust cybersecurity framework overall.”
“At this juncture, I wished the authorities could have acted and the culprit be apprehended and be dealt with according to the rule of law. However, this never happened. Eventually, I managed to recover all the attacked files through a third-party overseas service provider, but with a fee for a few thousand US dollars. I felt that I was held ransom and the only way to recover all my files was to pay that ransom fee. This is not right and should never happen at all. However, the truth is: it did not stop. Not only did it not stop, in fact, more and bigger cyberattacks occurred in the preceding years. Just to give Members some examples. I believe that some of my colleagues had already shared this. In October to December 2013, a cyberattack called "The Messiah" created havoc as several systems and portals were compromised. Users were redirected to suspicious and unknown websites and this undermined the confidence of Internet users. However, fortunately, the culprit was eventually apprehended. We always thought that our military should be the last place and institution for a cyberattack to occur. Unfortunately, our MINDEF was hacked on 1 February 2017 where details of some of our Servicemen and personnel, including their Singapore NRIC numbers, telephone numbers, and birth dates were leaked. On 14 May 2017, ransomware "WannaCry" crippled the world for three consecutive days and compromised more than 3,000 systems globally. This was considered as one of the major cyberattacks of the decade. On 28 June 2017, "Petya", which was considered more dangerous than previously known ransomwares, created havoc as it encrypted the Master File Tree Tables for New Technology File System (NTFS), overwriting the Master Boot Record.”
“Mr Speaker, good afternoon. The Internet has undoubtedly been part of our life, be it at home, at work, or while we play. We use the Internet directly or indirectly, so much so it is almost impossible to live without it – doing research for education, dynamic navigation while driving, exploring new recipes for the next party meal, or even searching for that box office movie. The Internet is now becoming an indispensable part of our daily lives. Our high dependency on the Internet has made it a part of us. Like many things which are a part of us, it can also be deemed to be private, until when it is violated. Violation of privacy leads to dire consequences. This could mean loss of business, loss of self-esteem for an individual or even loss of life. While we want to believe that the Internet is safe and secure, however, a dark side of it exists and must be managed and controlled. Mr Speaker, please allow me to share my own personal experience as a victim who was held ransom by a ransomware called "Locky". It happened in April 2016, where my work computer was attacked by a software virus which eventually encrypted and locked all my data files. This resulted in me not being able to open or run any of my files. It was a complete disaster as all my work was stored in the computer. It was also unfortunate that the virus attacked the backup files, both in my computer and the main server. This eventually rendered me helpless as I could neither provide all the required information, nor could I prepare any information for my potential business acquisition. I felt intruded and my personal space had been violated. Mentally, I felt no difference than a person who had been physically violated.”
“Thus, it is also reasonable to consider income from IP as a source of revenue in the current context in Singapore. While this change may be able to get absorbed by larger companies like the PSCs and larger-sized SMEs, I am very concerned over smaller ones which have not been able to capitalise on incentive schemes. I believe there are pockets of local SMEs which are stuck in their business activities in the old and traditional way. While they may not be seen as high-tech, but they do serve the need of the larger Singapore labour workforce by providing jobs. Thus, I would like to suggest that the incentive as previously prescribed should be extended to the smaller SMEs and perhaps, more should be done to assist them to move up the ladder in implementing technology in their business activities. As an example, I would like to highlight the cleaning industry and the small public works contractor industry. Mr Speaker, disruptions seem to be a constant parameter in our lives. Smaller SMEs are hardest hit with the constant disruption which is prevailing at smaller intervals, from financial technology (fintech) to augment the reality. Smaller SMEs find it harder to cope as they do not have the muscle and capacity to spend in R&D work, less IP work. And when they do, it will be a strain on their business operations. Hence, the extension of the prevailing scheme to smaller SMEs will go a long way. I plead with the Government to consider and review this. With that, Mr Speaker, notwithstanding the suggestion I made, I support the Bill.”
“Mr Speaker, good afternoon, and to all hon Members. The Economic Expansion Incentives Act, which was introduced by the Government in recent years, was meant to encourage companies to continue introducing high value-added activities in Singapore. As mentioned by Minister Lim Hng Kiang, between 2011 and 2015, similar companies had been awarded final certificates, of which, only two were SMEs, which is of concern to me. The overarching objective of such incentive schemes was not just to serve as an encouragement to the targeted industries and companies, but also to encourage companies to stay relevant in this fast-changing knowledge-based and technology-driven economy and being able to provide economic value to Singapore. The technologies developed should be able to make them more competitive and simultaneously create new higher value-added skilled jobs for our local workforce. This will, in turn, enable the workforce to move upstream, thereby creating higher value at work and increase productivity. This symbiotic relationship between the industry and the Government is highly commendable. The proposed six amendments to the Economic Expansion Act are reasonable in my opinion. The removal of the prescribed IP Income from the tax incentives scheme of both Pioneer Service Companies and Development and Expansion Companies under Part III section 19A and Part IIIB section 19M are questionable. However, I believe it is apt as Singapore's economic landscape has moved from a labour-intensive to a knowledge-intensive one, with a high skills-based platform. Thus, after many years of investing and working with the industry, it is reasonable to expect that IP should be one of the main activities of the affected companies.”