Don Wee
Singapore
“(In English): Finally, it is about public awareness. Beyond the real estate sector, what efforts will be made to educate the general public about these challenges to foster a culture of vigilance against money laundering?”
“Chairman, Enterprise Singapore plays a crucial role in supporting our SMEs through various grants and schemes in their green transition. However, the current reimbursement model creates uncertainty in capital recovery, discouraging SMEs from making much-needed investments in sustainable equipment.”
“Since the Government has household data on income, education and occupation, SkillsFuture can pre-qualify Singaporeans and directly recommend accredited courses tailored to their needs.”
“Thank you, Mr Speaker, Sir. I have one supplementary question for the Minister of State. I thank the Minister of State for his positive update. I also thank LTA for improving the bus connectivity as well as the road safety of my Brickland residents over the past four years.”
“I propose that we channel these funds into strategic areas that will directly benefit Singaporeans, such as sustainability initiatives, green infrastructure projects and education programmes.”
“As the Registrar will be better empowered to maintain accurate records of directors, including disqualification status, this could lead to greater transparency and trust in corporate governance.”
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“I urge the Ministry to consider this suggestion seriously.”
“Chairman, in 1984, the Government recognised that national security was a massive and complex issue. We identified five pillars of Total Defence to acknowledge that areas, such as social cohesion and economic resilience, were as important as military strength. In recognition of the new waves of threats brought about by increasing digitalisation, Digital Defence was introduced as the sixth pillar in 2019. Today, climate change is perhaps the most pressing concern for the world. Rising sea levels and extreme weather conditions, amongst other climate change threats pose ever-increasing dangers to Singapore. Climate change also have a big impact on our military operations and training, the maintenance of equipment and facilities and the direction of future defence strategies. The climate change threat needs to be addressed by a concerted response by the whole-of-Government and society. In this Budget, we have made room for long-term planning, including for environmental issues. This is the right approach. Given the nature of the required approach, will MINDEF consider adopting Climate Defence as the new pillar of Total Defence? If the Ministry does so, environmental defence will be front and centre in our defence schemes. As part of our national security planning, there will be implications for policies, national priorities, resource allocation and long-term environment defence strategies. Having Climate Defence as the seventh pillar of Total Defence will send a powerful message to all Singaporeans and the world about how seriously we are tackling climate change and our level of commitment to environmental sustainability. Going forward, this consideration will underpin all major decisions we make and facilitate more effective defence coordination.”
“Chairman, all young male Singaporeans and residents have to commit two years in the prime of their lives for service to our nation. It is important that we recognise their contributions and sacrifices and do our best to support them as they prepare for further studies or entry into the workforce after they complete full-time NS. For those looking for employment in the current economic climate, they will encounter many obstacles. I strongly urge MINDEF to extend career guidance, counselling and employment support to our NSmen. They may also need skills training or upgrading. Will MINDEF consider providing them with post-NS skills training advisories? Some those who face financial difficulties, what kind of assistance schemes can they tap upon and would the Ministry provide grants or interim loans to help them pay for their studies, training or family expenses and to tide them over this difficult period? Does MINDEF have any form of referral arrangement with MSF? Fitness”
“Does MINDEF purchase carbon offsets and, if so, what was the quantum last year? Will MINDEF elaborate on its sustainability requirements for its procurements and how it processes the various categories of waste it generates? Work-study Diploma”
“Chairman, climate change is more than an environmental issue as it has implications for our defence and security. For small island nations like ours, the potential threats from rising sea levels and more volatile weather conditions can pose as much of a threat or, worse, compromise our national security measures. Unfortunately, we have limited means to control the outcomes of global climate action. Yet, the potential threat and damage to us from climate change are disproportionately large. Nevertheless, when it comes to climate change mitigation, we will do our part and put in our best efforts. We will continue to cooperate with global initiatives and collaborate with other governments, the private sector and non-profit organisations to mitigate climate change. We need to pull together a whole-of-society effort to improve environmental sustainability. At the COS debate last year, the Minister for Defence spoke about the various measures taken by MINDEF and SAF to improve environmental sustainability and reduce carbon emissions. Would the Ministry provide an update on these initiatives and how MINDEF/SAF has continued to contribute to national efforts to meet the objective of environmental sustainability? One of the areas I am interested in is how MINDEF is working to meet our national targets to reduce energy and water consumption within its own buildings, bases and fleets, both in Singapore and overseas. Likewise, for its field operations and training. Will SAF be tapping more into green technologies for greater energy efficiency? Will we see more military vehicles powered by green energy and do we see the infrastructure ready to support more of such vehicles which will help to reduce emissions?”
“Will the National Library Board install book dispensers at estates with rental blocks which house many young families, such as Brickland and Hong Kah North constituencies, so that the children can have easier access to books? In addition, I would like to request childcare for shift workers to help parents who work night shifts who have no family support and cannot afford a domestic helper or sitter to keep an eye on young children. We need to ensure their safety and well-being. Last but not least, I urge the Government to expedite and increase assistance for vulnerable families with children with issues or special needs. These can range from those with milder to severe conditions, whether these are learning or behavioural issues, such as ADHD or autism, or other disabilities. I would like to ask if all these students are able to find a place at Special Student Care Centres. Is there any shortage of vacancies and if so, how many more places will be made available in the coming years? Since July last year, MSF had increased the subsidies and broaden the income criteria so that more families qualify for the Student Care Fee Assistance scheme. With these changes, how many more families does the scheme cover? Mr Speaker, it has been said of children with special needs, I quote, "sometimes, real super heros live in the hearts of small children fighting big battles". Let us send in more reinforcements and secure more victories. I support the Budget.”
“Similarly, for vulnerable families, particularly those with adults who are unfit for work and thus unable to find employment, their medical records stored in the National Electronic Health Record can be shared with the Social Service Offices in a secured manner, with authorisation by the needy applicants. This will enable the deserving cases to be assisted expediently. Many of the applicants are frustrated as they have problems navigating the variety of programmes and initiatives. For students from vulnerable families, will the Ministry guarantee them places in their own schools' Student Care Centres? This will save them from having to travel from their schools to another centre. It is safer for younger students as well. At school-based Student Care Centres, we can help to ensure that needy children enjoy enrichment programmes and get nutritious lunches, even dinners. As the recent Singapore Longitudinal Early Development Study funded by MOE had found, children from poorer homes have less healthy diets and suffer from food insecurity. Not only do their diets affect their health and development, poor nutrition is linked to, I quote, "aggression, delinquency, anxiety and depression". Longer term impact from poor diets in the young includes potential obesity and weaker academic performance. I would also like to request for more resources and the deployment of Allied Educators to assist this group of students with their homework. Such an arrangement will benefit children living in less conducive home environments where crowding and noise, and the lack of supervision, books and IT equipment, prevent them from learning well.”
“Another suggestion which I support is to require Large Local Enterprises (LLEs) selected for this scheme to make complementary local SMEs and start-ups part of their overseas expansion efforts. In other words, to hunt in a pack. Local companies employ more than 60% of Singaporean workforce, therefore elevating SMEs' capabilities also improves social mobility. And this brings me to talk about the support rendered towards the lower income families. Children are our future. For disadvantaged children, we must make every effort to assist them so that they will have the best chances of growing up healthy and living fulfilling lives. I am very glad that the Government will be boosting the provision of social services and holistic care for lower income families with children who are staying in HDB rental flats. They have been hard hit by the pandemic. I am delighted that the Community Link (ComLink) initiative will be expanded from 1,000 families to a nationwide programme to benefit 14,000 families over the next two years, in coordination with other schemes such as UPLIFT and KidSTART. This will really help these vulnerable families. However, I would like to suggest that we make better use of data technology to reduce the administrative work and processing time for assistance applications. As I had suggested before in my maiden speech, the Ministry may consider allowing Social Service Offices' records to be shared with schools so that needy children do not need to apply for the Financial Assistance Scheme and school pocket money fund separately.”
“During this age of massive transformation, there will be new business models, products and services which are coming onstream. Some of these new projects can be very capital intensive and need expensive equipment, such as digital services and urban vertical farming equipment. Please allow me to continue in English. (In English): The senior executives responsible for approving loans at financial institutions will proceed with an abundance of caution because their objective – to preserve capital – is different from the perspective of our Government, which is to encourage innovation and new engines of growth. In addition, they tend to rely more on track records, proven business models, tried-and-tested products and services. In fact, the more experienced they are in the financial services sector, the more likely they will have deeper in-built preconceptions and biases. For this reason, venture capitalists fill the gap for funding start-ups. But many newer and smaller firms will have difficulty attracting venture capitalists. Without Government intervention, our small start-ups will find it hard to assess the Venture Debt programme. I would like to suggest that MOF considers drawing up a list of qualifying prescriptive criteria that will help to reduce subjectivity in the process of assessment. As long as a firm meets the criteria, it should be able to qualify for the programme. I would also like to ask if the Local Enterprises Funding Platform could be opened to larger SMEs as well. They may find this scheme useful as they do not qualify for grants nor are able to position themselves as regional or international companies.”
“Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] As the world continues to battle COVID-19, I am heartened that Singapore is positioned to plan for our future, thus with this Budget focusing on "Emerging Stronger Together". Earlier, Sengkang GRC Member of Parliament Louis Chua reminded the Government that while we rejuvenate the economy, we should not overlook the vulnerable group. This is why the Government has rolled out many schemes in a "kuih-lapis" style to support lobal businesses and the vulnerable group. I would like to make some suggestions about supporting SMEs and lower income families. Deputy Prime Minister Heng has committed $24 billion over three years to enable our firms and workers to emerge stronger from this crisis. This follows up on the changes started five years ago with the Industry Transformation Maps. To enable businesses to innovate, transform and scale up, the Government intends to co-fund businesses of all sizes at all stages of growth. I welcome the Government's decision to step up risk-sharing arrangements with capital providers through the extension and enhancement of the Enterprise Financing Scheme - Venture Debt programme. For the Venture Debt programme, the Government shares up to 70% of the risk on eligible loans with Participating Financial Institutions and even increases the cap on loan quantum supported, from $5 million to $8 million. This new measure broadens the existing scope of assistance schemes. My concern is that many financial institutions may be so conservative that even bearing 30% of the loan risk is too much for them, resulting in smaller and newer firms not being able to get any loans.”
“Those who insist that it is too late for the Minister to take back his words, advocating personal privacy, and demand that the Government limit the TraceTogether data to COVID-19 tracing only, are missing the wood for the trees. I would ask, if not for our country bringing the pandemic here under control, and ensuring law and order, would we even be able to discuss privacy issues? Today, we are gathered here to debate whether legislation should be passed to limit the use of TraceTogether data by police and courts to only the investigation of seven types of serious crimes. Frankly, I am not in favour of this "special treatment" for TraceTogether data. In my view, even if a crime is not under the seven categories of serious crimes, the use of the data should be authorised for police investigations or court proceedings. Solving cases are not easy! With hands and feet tied, how can the police solve cases and arrest suspects? I believe that all Members here, including those in the opposition, will do their utmost to protect their families, protect their children, pursue all leads in order to identify the pervert, put him in jail and prevent him from endangering other innocent children. We should not become like some western developed countries where certain cases cannot be solved due to privacy protection. We are an Asian society where the interest of the community is more important than that of the individual. It is this value that has enabled us to fight the pandemic more effectively. I hope that the Minister will consider my views and suggestions. Thank you.”
“Mdm Deputy Speaker, I will be speaking in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mdm Deputy Speaker, it is up to the doer to undo the knot. Indeed, considering how everything started, I am glad to hear the clarification made by the Minister just now and he had also assumed the responsibility. He also acknowledged that because of the seriousness of the situation at that time, it was imperative to gather information to quickly identify, isolate and treat patients. It is expected that he and the departments involved had very limited time to think about any other ramifications. Although we are surprised and disappointed by this oversight, it is somewhat understandable, taking into account the unprecedented situation of the pandemic. Now that the Minister has clarified it, I think the matter should be rested. The reason is very simple: the Government obtains information through TraceTogether and the Criminal Procedure Code in order to protect its citizens. The Government is unlike private companies, such as Google and Facebook which collect data to make a profit. We do not seem to be as concerned about Google and Facebook collecting and monitoring our personal data and we often use these platforms. So, why are we so worried about the data the Government collects to protect us? In addition, what the Government collects, in comparison, is very limited and much less. What is more, we are a country governed by the rule of law, and there are rules governing data processing in all Government departments. In the course of implementation, institutional or personal lapses may occur occasionally, but once they are discovered, we acknowledge and rectify them. This is how we improve and strengthen the system.”
“Just now, Assoc Prof Jamus Lim quoted Laozi’s words: the journey of a thousand miles starts with the first step, I would also like to quote Laozi: Great undertakings have small beginnings, and difficult tasks are tackled from where it is easy. As Minister Grace Fu mentioned just now, the Government already took the first step in 1967. So, in conclusion, I support this Motion.”
“What our Government must do is to ensure that our SMEs and low-income families obtain appropriate rebates and subsidies, for example, the kueh-lapis style of tiered support to help underprivileged families. The Government can use the carbon tax collected to subsidise our local companies' and underprivileged families' utility bills, so that they will not be affected. Presently, a $5 carbon tax means a 1% increase in household's utility bills. COVID-19 has already given many of our families huge financial pressure, especially the low-income families. They face many challenges, and hence, we should reduce their burden in this area. The Government had announced that the U-Save voucher scheme will be run until this year. I suggest that the Government link U-Save with carbon tax increments, so that in this way, even when the carbon tax rises, the increase in utility rebates will be enough to offset the increases in charges. Just now, Member Mr Louis Chua suggested that the Government advocate Green Financing. Last November, MAS introduced the Green and Sustainability-linked Loan Grant Scheme (GSLS) which will come into effect on 1 January 2021. This is an unprecedented scheme in the world. GSLS will support companies to obtain green and sustainability financing, regardless of their size. It will help them to pay for the cost of hiring an independent service provider to certify the green and sustainability certificate. The scheme also encourages the banks to introduce a loan framework to link green and sustainability, so that SMEs will find it easier to obtain this type of loan.”
“The Government should also provide the reassurance that each review of the carbon tax will take into consideration a matrix of socio-economic factors – such as projections of GDP impact, cost of living and employment – to ensure that Singapore maintains its reputation as a responsive, business-friendly hub. The revenue from the carbon tax can be used to expand funding for energy efficiency and green financing schemes. For example, the Energy Efficiency Fund, Resource Efficiency Grant and Genco Energy Efficiency Grant could increase their co-funding of efficiency projects beyond the current 50% for meritorious projects. Similar efficiency grants should also be extended to other industries, such as transportation and agriculture progressively in future, to ensure that carbon abatement is an economy-wide project. Tax exemptions could be granted for start-ups and joint ventures that specialise in emerging green technologies and services. The Government should also incentivise green financing initiatives by the banks. Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Among the climate change measures our country has implemented, the carbon tax is one of the most effective and noticeable. Although the public support environment protection measures, they are also worried about the impact of carbon tax on most consumers and small and medium size enterprises. I think that while carbon tax increases will lead to increases in utility bills, our country is still able to bear the increments. Utility bills normally only constitute a small part of an enterprise’s expenses. After all, rental, salaries and equipment fees take up a larger proportion.”
“As my speech touches on carbon tax and green financing, I declare that I am working with a bank and a council member of the Institute of Singapore Chartered Accountants. The carbon tax is widely recognised as the most effective way to reduce emissions. Currently, Singapore's carbon tax of $5 per tonne of greenhouse gas (GHG) emissions is levied only on key facilities as mentioned by Senior Minister Teo whose annual emissions are more than 25,000 tonnes of carbon dioxide. These facilities contribute to 80% of Singapore's emissions. The Government aims to raise the tax to between $10 and $15 by 2030, subject to a review in 2023. In comparison, the UN's Intergovernmental Panel for Climate Change recommends at least US$135. So, we are looking at a huge gap here. Proposing an increase in carbon tax during this challenging period seems counter-intuitive. On the other hand, we know that however difficult it is, we must still look beyond our immediate future to plan for decades ahead. Many of the changes we need to make to combat climate change have to begin now. I am hopeful that we will emerge from the COVID-19 crisis by 2025. Therefore, I suggest that we increase our carbon tax gradually, so that we will be able meet higher targets incrementally, based on the following timeline and quantums: between $30 and $55 by 2030; between $50 and $90 by 2035; and between $75 and $120 by 2040. In addition, I request that these increased taxes be announced with a long period of advance notice. For example, the 2023 review should be the deadline by which 2030 rates are finalised. The same review should also provide an estimate range for 2035 rates. The advance notice is extremely important, as it gives businesses time to adapt and plan.”
“(In Mandarin): [Please refer to Vernacular Speech.] Thank you. As a Member of Parliament, we have met many young residents. They tell me that they have been waiting for a long time after applying for a BTO. According to Mr Leong’s reply, does it mean that the HDB should build less HDB flats, therefore, we do not have to cut down more trees? Thank you.”
“(In Mandarin): [Please refer to Vernacular Speech.] Mr Speaker, I would like to raise some clarifications to Mr Leong. I would like to ask whether he knows that Singapore's greenery coverage is about 47%. Second, from which report did he learn that our projected population would be about 10 million? Third...Sorry, I have just these two questions to ask.”
“As domestic online purchases have surged in recent years, especially for the last one year, can we also look into allowing digitalised delivery notes for local delivery to be recognised as legitimate too? Next, the proposed changes to the ETA also seek to provide legal recognition for digital forms of the Lasting Power of Attorney (LPA), pending the readiness of the related legislation, the Mental Capacity Act, and supporting administrative framework. LPA forms have to be witnessed and certified by an LPA certificate issuer, who are limited to a medical practitioner accredited by the Public Guardian, a practicing lawyer or a registered psychiatrist. This means that in effect, all the data entries, signatures and submissions have to be done in the offices of these professionals. I am particularly concerned about the administrative, hardware and software support for the medical practitioners. I would like to suggest that the Government extends some assistance to them in this area so that they will be equipped suitably when the amendments to the Mental Capacity Act are made. Notwithstanding the abovementioned queries, I would like to conclude with my support for the Bill.”
“Mr Speaker, Sir, I would like to declare that my work at a financial institution involves dealing with trade documents. I also declare my interests as a member of the Institute of Mental Health's Visitors' Board and as an Office of Public Guardian pro bono donee appointed by the Court under the Mental Capacity Act. I welcome the amendment Bill which will bring trade documents within the scope of the Electronic Transactions Act (ETA). Most maritime trade now uses paper copies of bills of lading. A single transaction can involve hundreds of pages for such bills. As a result, the documentation and processing work can constitute up to 20% of the cost of shipping the goods. Providing legal recognition for digitalised trade documents, such as bills of lading, negotiable instruments, documents of title, bills of exchange, promissory notes, consignment notes and warehouse receipts will cut administrative costs, speed up processing time and boost efficiency. However as digitalised trade documents can be duplicated easily, financiers, banks must be careful and put up additional measures to prevent double-financing. With the amendments, the ETA will adopt most of the standards of the United Nations Commission on International Trade Law, which sets out an internationally recognised legal framework for electronic records. Being aligned with the international system for electronic documentation is crucial for us as a global trading and shipping hub. I would like to seek a clarification from the Minister. Presently, banks only finance international trade documents based on signed paper documents. With the amendments, am I correct to understand that electronic signatures will be recognised legally?”
“This important piece of document proves that shipment has been made. ASEAN is an important gateway to other parts of Asia. Thus, I hope that we will have a common language for all related supporting transport documents. I am also hopeful that this new framework will create more advanced jobs in the logistics sector. A multimodal transport operator's most important asset is its staff who must be well-versed in international transport procedures and regulations. In Singapore, the vocational training courses offered by the Singapore Logistics Association are excellent. But each MTO should take the responsibility to continuously train their staff by providing in-house or on-the-job training. The new connectivity will boost supply chain efficiency and help to cement Singapore’s status as a trade, logistics and connectivity hub. Good connectivity in turn complement the various Free Trade Agreements which Singapore and ASEAN have inked with other regions and countries. I support the Bill as it will elevate our logistics industry and solidify Singapore’s position as the top logistics hub in Asia, if not the world.”
“Mr Speaker, Sir, I will begin by speaking in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] I support this Bill which will enable registered multimodal transport service providers to move goods throughout ASEAN with a single Multimodal Transport Document. I am sure that logistics companies in Singapore will welcome the convenience this new framework provides. Upon joining the registry of operators recognised by the ASEAN Framework Agreement on Multimodal Transport (AFAMT), they will no longer have to submit different documents for each jurisdiction. Our SMEs which sell to other countries will also benefit from it. The reduced red tape will lower administrative costs and processing time, facilitate businesses within ASEAN and foster new partnership explorations. (In English): Would the Minister elaborate on the criteria to be admitted into the registry? In addition, how does a customer know the amount of liability insurance that a multimodal transport provider has purchased? The amount of contracts that it can undertake should be predicated on the amount of liability insurance it has subscribed to. I also have a concern regarding the language of the transport documentation. In the past, our companies had to coordinate the various modes of transportation, including ship and railway. Railway receipts and delivery notes issued by overseas service providers are not stated in English and thus cannot be submitted to financiers in Singapore as proof of delivery unless these documents are translated and signed off by notary public. The multimodal transport document should follow International Chamber of Commerce Banking rules and be accepted by banks in the event the consignor or consignee requires financing.”
“I am confident that the Bill will help strengthen industry-Government partnerships and lead to new investments and businesses here in the years to come.”
“At the same time, the crash of XRP is a reminder that, all over the world, governments are trying to figure out how to regulate this sector. Heavy-handed regulation may stifle innovation. MAS’ risk-based supervisory approach provides greater user assurance and regulatory safeguards for areas with high risks, and unregulated spaces to allow exploration of improvements and more efficient approaches. I would like to ask the Minister if the current regulatory framework is sufficient to deal with the emergence of new payment instructions that straddle between e-money and DPTs, such as stablecoins. Stablecoins are a new class of cryptocurrencies. They can maintain a stable value relative to another asset or a basket of assets. They could potentially perform the functions of money and can be traded, too. I seek MAS’ assurance that DPTs will not be allowed to be used as collateral to grant working capital facility to the DPT holders as this is one form of encashment. Would the Ministry require capital adequacy ratios, similar to those for banks, for DPT service providers to protect the DPT depositors? This amendment Bill is yet another milestone in Singapore’s digital payments landscape in our journey to becoming a Smart Nation. Broader implications include investor protection, consumer protection, data and privacy, systemic risk, monetary risk policy and national security. A few jurisdictions have initiated regulatory reforms to address digital payment tokens as a means of payment. Whether Singapore will accept a token-based payment system on a wider scale remains to be seen. Nonetheless, I am heartened by the Government’s support for innovation in this area.”
“However, the verification process is quite demanding. Hence, I would like to ask if MAS can prescribe a centralised or integrated platform for the DPT service providers to research on the transaction details, share information and improve efficiency. Anti-money laundering and countering terrorist financing requires DPT service providers to monitor cross-border value transfers and collect alternative CDD information. Some of these transactions may involve physical goods movement. Collection of transaction information is not that difficult, especially when the criminals have the intention to launder money. It is important for the DPT service providers to comply with the spirit of the regulations and assess if the information furnished makes business sense. Money launderers inflate the transaction values to move their funds, in our case, it will be the DPTs, around. For example, if a pair of Hello Kitty soft toys are valued at $50,000 and the client explains that these are limited edition ones, how does the service provider authenticate the value of these Hello Kitties? Would MAS prescribe that the service providers must invest in search engines like international maritime bureau (IMB) systems which can track and authenticate shipments, or Bloomberg systems so that the commodity prices can be verified? We must not allow the collation of customer due diligence process to become a box-ticking exercise. Next, I would like to voice my support for the new user protection measures. It is important to protect individual investors and consumers who may be encouraged to invest in digital tokens. The recent gravity-defying rally of Bitcoin shows that it and other cryptocurrencies are getting more widely accepted as an asset class.”
“Mr Deputy Speaker, Sir, I declare that I am a bank employee and a Council Member of the Institute of Singapore Chartered Accountants. I will begin my speech in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] I rise in support of the Payment Services (Amendment) Bill. The Bill provides clear compliance requirements for cryptocurrency businesses that will align our legislation with the enhanced standards adopted by the international Financial Action Task Force (FATF). The additional requirements are necessary to counter money laundering and terrorist financing risks associated with some virtual asset service providers which are not already regulated as financial institutions. The expanded definitions of digital payment token (DPT) service and cross-border money transfer service will also enable MAS to have a more comprehensive oversight. With the amendments, Singapore will have one of the clearest and most pragmatic regulatory frameworks in the world to manage cryptocurrency services. Digital payment token service providers now have a complete rule book to comply with the MAS’ licensing requirements. We will be able to position ourselves as a progressive destination for financial investors and service providers in both the digital and traditional asset sectors. Greater regulatory clarity would be attractive to global crypto businesses. (In English): As virtual asset service providers will need to perform screening, customer due diligence (CDD), collection of Know Your Customer (KYC) information from platform users, transaction monitoring and reporting, and record keeping, there will be greater transparency and trust in the system. Higher public confidence will be beneficial to the developments and innovations in this sector.”
“With the PWM, we can look forward to attracting more Singaporeans to work in these essential jobs and becoming less dependent on foreigners. During the transition period, we may face some difficulties recruiting Singaporeans. However, I am optimistic that the pressure from the demand for the services will drive productivity and result in better work conditions for these jobs. Workers will be paid higher wages and be respected as professionals in their own right. Building a strong Singaporean Core in these various sectors will boost our resilience. On this note, allow me to conclude with my support for the Statement.”
“The children must have guaranteed access to basics, regardless of their families’ situation – accommodation, food, water, electricity, mentoring, healthcare, transportation and so on. The agency should also provide and manage the eco-system of support, such as supervision, mentoring and fostering, so that these vulnerable kids will have better chances of growing up healthy and well-adjusted, enjoying school and be capable of learning well. Increasingly, underprivileged kids who will find it harder to catch up with their peers in a knowledge- and skills-intensive economy. Can the kids from these underprivileged families fulfill the specialised roles required by the Foreign Direct Investments brought in painstakingly by the Economic Development Board? I am not too sure. Deputy Prime Minister mentioned that the best way to protect the welfare of our workers is a good job. Thus, we need to ensure that these underprivileged kids can level up and have a good education now so that they can take on the specialised roles and uplift their families in 10 to 20 years’ time. For workers in the lower income brackets, Government will help them by expanding the implementation of the Progressive Wage Model or PWM to more sectors. I am heartened by recent announcement about the Government’s commitment to this. The cleaning, landscaping and security sectors have already seen the fulfilment of the four objectives of PWM, namely, career progression, skills upgrading, higher productivity and wage increases. Hopefully, more sectors will follow, such as for the waste management, construction, retail, food and beverage, accommodation and hospitality sectors.”
“2 million Americans found that children of the top 1% are 10 times more likely to be inventors than equally smart kids from other backgrounds...if...children from low-income families could invent at the same rate... these 'lost Einsteins' could quadruple innovation in the US.” I would venture that we can expect a similar situation in Singapore with regard to our future in innovation. Children grow up quickly. Within 10 to 20 years, we will be able to see the fruits of our efforts in these children. In less than a generation’s time, we can boost literacy and education levels, reduce crime and recidivism rates, and improve health outcomes. But we must be prepared to intervene more, and the earlier the better. As the saying goes, "A stitch in time saves nine". Early intervention is important and necessary. Under our laws, children already have rights for living necessities, education and healthcare. What we need is effective oversight for children in low-income families to ensure that they are receiving these essentials. For example, if the adults in the families pass away or are imprisoned, the state must step in to protect and provide for these kids. Children unaccounted for must be traced. Schools should alert relevant agencies when children do not seem to cope well. Protecting them, helping them, lifting them up will prevent a future group of potential permanent underclass. We should watch over our children as zealously as we would over our reserves. I would like to suggest that for the underprivileged children, a “Children and Youth” equivalent of the Agency for Integrated Care to be set up in order to enable coordinated and holistic oversight.”
“We must seize the opportunities presented by new technologies, particularly in the digital domains of the Internet of Things, robotics, artificial intelligence and cloud computing, just to name a few. If we fail to do so, we will become irrelevant. Being a small nation state with no natural resources, our survival will be at stake. (In English): Mr Deputy Speaker, Sir, I appreciate that SGUnited Jobs and Skills Centres in the HDB estates will reach out to the disadvantaged ones to help with job matching. The extension of the COVID-19 Support Grant and the continued support for households, such as the GST Voucher, Grocery Vouchers, Service and Conservancy Charges or S&CC rebates, and Workfare Special Payment, are also helpful. However, there is room for us to do more. I appeal to the Government and its agencies to make an additional effort to provide a better living and learning environment for the underprivileged children. In a knowledge-intensive future, these children will not stand a chance if they live in overcrowded flats with access to borrowed equipment, limited or slow connectivity and minimal adult supervision and guidance. We may need to tighten our collaboration with the volunteer groups and private companies which are willing to sponsor and mentor these children as well. This will be a worthwhile investment to help them break out of a vicious poverty cycle. Allow me to quote from the 28 September article, "The Equality Issue” of the Bloomberg Businessweek. Harvard economist Raj Chetty's research suggested that, and I quote, "Improving education for poor kids wouldn't just help them personally...it should also boost the economy overall. An analysis of the patents filed by 1.”
“Mr Deputy Speaker, Sir, I will deliver the first half of my speech in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mr Deputy Speaker, I would like to express my support for the Supplementary Supply Bill and thank Deputy Prime Minister Heng for his Ministerial Statement. Deputy Prime Minister's statement emphasised developing Singapore into a Global-Asia node of technology, innovation and enterprise which will be supported by a strong, skilled and yet inclusive workforce. I am very much encouraged by the plans to prepare our nation for the next phase as we emerge from the uncertainty of the past few months. We are not out of the woods yet but we must stay positive, do our best, and work hard for our future. I am inspired and moved by the many Singaporeans who are taking brave steps to learn new skills, take on new jobs, and adapt to a very different world. I am grateful for the unity and cooperation of Singaporeans and residents during this difficult time. Unlike some parts of the world which are polarised over measures to contain the virus, we are working together to overcome this pandemic based on scientific advice, logic and common sense. People from all walks of life are putting up with inconveniences and making sacrifices for the greater good. All these qualities put us in good stead for the future. I am confident that we can achieve the goal of remaking Singapore as a Global-Asia node of technology, innovation and enterprise. In view of the difficulties we face, this is an ambitious, perhaps even audacious, vision. This vision requires a huge investment in our human capital, especially as we want to achieve it together with the objective of inclusive growth. We are deep in the midst of the Fourth Industrial Revolution.”
“In order for us to benefit from a higher sanitation standard, we must all take joint responsibility for our environment and do our part to keep our surroundings clean. There is thus an important role for public education. I am interested to hear more about the Ministry's efforts in this area. Most of us recognise that we can do more to help at the individual level, as highlighted in the Public Cleanliness Satisfaction Survey, we found that 87% of the respondents think that Singapore is clean due to the efficiency of the cleaners. Therefore, Singaporeans' civil-mindedness has a lot of room for improvement. If each of us do our part and encourage those around us to do their parts, our collective effort will go a long way to keep Singapore cleaner, reduce the need for cleaning and minimise the cleaning costs. I would like to conclude with my support for the Bill. 5.20 pm”
“In the face of this manpower crunch, how are we going to meet the new environmental sanitation (ES) standards? Do we have plans to draw more Singaporeans or PRs into this sector or will we need to re-adjust manpower policies? Will higher wages alone be sufficient to attract and retain local workers? How will the Ministry persuade the Singapore public to pay more for local workers, while at the same time, ensure that the less privileged ones amongst us do not have to bear the burden of the higher cleaning costs? In the face of limited manpower, we must help our cleaners to become more efficient and productive. The half-day cleaners' training programme launched by NEA and the Restroom Association last month is very useful. I seek the Ministry's assurance that it will become a permanent training programme, with refresher and upgrading courses in the future. This will ensure that our cleaners will meet ES standards and be equipped to deal with potential new health hazards. I am also very glad to note the new Toilet Improvement Programme launched by NEA last Friday. Interested coffee shops and hawker centre operators may apply for up to 90% funding to improve the design and cleanliness of their toilets and adopt more effective cleaning measures. I strongly urge them to tap on this programme to fund the necessary renovations and measures. New toilets can be redesigned to make it easier to be kept clean. For example, round sloped sinks are better than flattish square or rectangular sinks which tend to accumulate debris in corners. Taps, soap dispensers, toilet flushes and doors can be operable through sensors or with foot pedals.”
“I hope that for the implementation of this new measure, building and premises owners will be required to provide proof that they give premises managers the authority and requisite resources to carry out their duties. I seek the assurance of the Ministry that designated employees will not be held responsible in the event that environmental sanitation standards are not met due to insufficient resources. Take the two coffee shops at Brickland’s blocks 803 and 810 for example. The coffee shop aunties and assistants are my residents. They are managing 2 roles at the same time, making coffee, serving tea and cleaning as well. They are the frontline workers providing essential services, but their salaries are not very high. I am very concerned about their working conditions after the new regulations come into force. I will continue my speech in English. (In English): Customers, who desire cleaner toilets, also worry about the prices of their favourite hawker meals going up. We would also want to ensure that hawker and coffee shop meals remain accessible and affordable for the less privileged Singaporeans. Another concern is the availability of manpower. The higher demand for cleaning due to the pandemic has already led to a labour shortage. This is a sector which attract fewer Singaporeans and on top of this difficulty, there is a limit on the number of foreign workers we can hire. Can we turn to technology for help? Perhaps, for some premises, it may be viable to deploy robot cleaners, for example. However, it would be challenging to use robot cleaners in the toilets of our hawker centres and coffee shops, due to the terrain and space constraints. Robots are also costly.”
“Mr Deputy Speaker, Sir, I will deliver the first part of my speech in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] I support the Environmental Public Health (Amendment) Bill introduced by the Ministry of Sustainability and the Environment. The ongoing global pandemic has given us a strong impetus to review our public hygiene regulation and enforcement framework. We should not miss this opportunity to raise the public hygiene standard. We should learn the lessons and the health reform opportunities presented by the pandemic. If we do not gain the experience nor reflect upon ourselves, we would waste this learning opportunity to enhance our ability to resist future health crises. Introducing mandatory environmental sanitation standards for the cleaning and disinfection of high-risk premises is necessary and timely. Such premises include nursing homes, kindergartens, public toilets and rubbish collection centres. The new requirements will help our fight against COVID-19 and mitigate future public health risks. One of the most common complaints about public hygiene is about the toilets in our hawker centres and coffee shops. I would like to urge stall operators, coffee shops and eatery shops owners to leverage on higher standards of cleanliness to attract more customers and increase revenues. However, owners and operators have often told me that they are worried about the higher costs of cleaning. They may not be able to absorb the higher cost and may need to pass part of it to their customers. They are concerned that they may lose some business as a result. I also have some concerns with the requirement for premises managers to be identified and held accountable for adhering to the ES standards.”
“There are jobs with fixed monthly salary of $20,000 or above which are exempted from advertising on the MyCareersFuture. I wonder what are the measures in place to deter employers from embedding the rental allowance or the kids education allowance into their salary to circumvent this regulation.”
“We must have an awareness of mental health and aim to reduce stigmatisation at a very young age so that mental health patients will have more confidence in themselves and have fewer challenges navigating their life in Singapore. I propose for the Government to incentivise employers to recruit mental health patients so that they also have the financial means to take care of themselves. The United Nations highlighted in May 2020 the need to prioritise mental health during the COVID-19 pandemic, stating that whilst it is a physical health crisis, it has the seeds of a major mental health crisis as well. I hope that everyone has the opportunities that I had. A whole-of-Singapore inclusive approach, where all Singaporeans matter, is key in ensuring that we will continue to maintain a cohesive society while recovering from the pandemic.”
“In the same vein, SSOs' records should also be shared with schools so that the Financial Assistance Scheme and the School Pocket Money fund which are administered by MOE does not need to be applied separately. I also urge new Family Service Centres (FSCs) to be housed together with the SSOs so that there is a better handshake process as clients do not need to repeat their circumstances. The above-mentioned suggestions illustrate different ways on how we can help the deserving underprivileged Singaporeans. Finally, let me now share what I have experienced so far as a Member for Parliament for the Brickland division of the Chua Chu Kang GRC. It is a precinct with many BTO flats and executive condominium units. There are many young families concerned with unemployment as a result of the economic downturn. Some have young children and are concerned about their future. I had met many residents who had lost their jobs or had suffered pay cuts. For one particular case, his nine years old daughter had contracted a rare disease. I had also met a single mother with two special needs children. She suffers from depression as she is constantly worried about her kids and the tight financial situation. Her former husband has gone missing so she has no alimony to rely upon. Besides financial assistance, I hope the Government can invest in providing respite care for this group of care-givers just like what we have done for the care-givers of the dementia patients. It is extremely stressful when disadvantaged families have family members who suffer from chronic illnesses, mental illness or have special needs kids. Financial distress is often intertwined with mental stress.”
“Through perseverance, bursaries and opportunities given to me, I would say that I am doing fine today and hope to give back to the larger Singaporean community. Ultimately, it instilled in me the idea that, in Singapore, no one will be denied of opportunities if he or she works hard and has the courage to fight on. When I was serving in the School Advisory Committee of a neighborhood Secondary school, I came across cases whereby the students skipped classes because they had to take care of their young siblings or sick grandparents as the parents were either in prison or were working long hours. Their poor academic results are only symptoms and their family issues are the root causes. Therefore, we must still ensure that everyone has a similar playing field to start from. And that should start from as young as pre-school. No system should stop parents from investing in their own children, but any system should attempt to minimise inequalities. It is heartening that we have more Allied Educators now and I would suggest that this be moved upstream to MOE Kindergartens and the ones operate by the anchor operators. We can formalise the tripartite partnership between the schools, Social Service Offices (SSOs) and Family Service Centres (FSCs) so that the pipeline of cases can be reviewed regularly. More budget can be set aside to scale up the KidSTART programme. Despite the KidSTART programme's success, it remains very costly to sustain. I also urge the Government to allow medical records stored in the National Electronic Health Record (NEHR) be shared with the Social Service Offices (SSOs) in a secured manner after been authorised by the client so that the deserving cases can be helped expediently.”
“Before COVID-19, Singapore’s social compact was predicated on good economic growth, high employment rate, own responsibility and, as I had said earlier in my Mandarin speech, the "kueh lapis" style social security system. Post-COVID-19, this new compact needs to be practical and yet creative to ensure there is affordability, availability and quality in the key areas of social security, housing, healthcare, education, public infrastructure and the environment. The Government has a critical role not only in ensuring socially desirable outcomes, but also in pursuing outcomes that are consistent with Singaporeans’ dreams, while not compromising fiscal means and maintaining work incentives. The bottom rung of the blue-collar households has difficulty making basic ends meet, while the sandwiched class have fewer discretionary savings and therefore may be more vulnerable to ad hoc occurrences of unemployment and illnesses. These scenarios impede social mobility. The construction of this new social compact requires the Government to review and discard long-held beliefs and rigid policy mindsets which are the hurdle and can no longer leave it to market forces to help the less privileged ones. To me, meritocracy is the key principle which is crucial to Singapore's success. I spent the first few years of my life living in a rental flat. I was brought up by my maternal grandparents while my parents took on various odd jobs to support me and my younger sister. My father worked as a delivery man and later on as a taxi driver while my mother assembled electronic parts at home and later on, she became a part-time cashier when we were older.”
“I am glad that first-time entrepreneurs will be able to access a higher start-up capital grant of $50,000 to help them launch their business ideas. I am optimistic that this will boost local start-ups and create jobs during the pandemic. Could more initiatives like the "Youth Action Challenge" be organised with Government grants so that more students and youths might step forward? Participants were asked to pitch their ideas to four judges, outlining their projects, its social impact and how they would implement it before being judged on project feasibility, impact and validation of problem and idea. This is good training for the real world. The Government adopts a "kueh lapis" style of diversified approaches to help the underprivileged. The Government uses similar approaches to help our SMEs through several Government agencies, such as ESG and IMDA, to launch many financing schemes, industry-led training programmes and SME Go Digital programmes to help SMEs. I hope that we will have better inter-agency programmes to combine all these projects into a “set-meal” with more synergy, so that the "kueh lapis" can melt easily in their mouth. In addition to helping SMEs, we also have to remember to support the less privileged in our midst. I shall be speaking in English to elaborate my points. (In English): There has been a marked increase in anxiety and stress among employees in Singapore since the COVID-19 outbreak. Our overall unemployment rate of the Singaporean Citizens has risen to more than 3% in 2020. Those who have lost their jobs would be stressed. Those who are still employed worry over the likelihood of losing their jobs. Fresh graduates are anxious about getting suitable jobs in the sector that they desire. It is a difficult time for everyone.”
“His aspiration is to become a business owner who is able to make time to help and serve the community. Jun De is a business graduate and former President of the NTU Rotaract Club which organises charitable activities. With the COVID-19 pandemic, it was harder for him to secure interviews with companies he was interested to work in. He has taken up a traineeship and is looking forward to picking up new skills and finding out more about the industry that he intends to venture into. He hopes that the experience would be useful in the future should he proceed to set up his own business. The traditional model of work may not be sustainable for youths like Jun De. Over the next few years, we should focus on building a pipeline of fresh talent and support our youths who aspire to become entrepreneurs. Yet, a poll in 2019 showed that young people in Singapore are far less keen on being entrepreneurs than their peers across the region. The poll questioned 56,000 people aged 15 to 35 from Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. It found that just 17% of those polled said they wanted to work for themselves in the future. This was in contrast to five other nations in the poll by the World Economic Forum and an International Internet company. Across ASEAN, working for SMEs is viewed less favourably by youths. Traditional SMEs could face challenges in recruiting and retaining the right talents. How do we ensure that more youths continue new modes of learning by working in SMEs or starting SMEs of their own? Could we build a pipeline by allowing youths under the age of 25 to use SkillsFuture to learn more about entrepreneurship?”
“Mr Speaker, Sir, I support the Motion of Thanks to the President for her Address. The President spoke about securing Singapore's future. I would like to begin by sharing my thoughts on matters close to my heart, whose vitality and success are necessary for the prosperity of our nation. They are our small and medium-sized enterprises and our youths. As we progress, we must not forget the disadvantaged ones. Sir, I shall be speaking in Mandarin. Before that, I would like to declare that I am an employee of a Singaporean bank, a council member of the Institute of Singapore Chartered Accountants administering a supporting small medium audit practices, Chairman of an Institution of Public Character, as well as a member of the Institute of Mental Health's visitors' board. (In Mandarin): [Please refer to Vernacular Speech.] The past few months have been challenging for many of us as we battle against COVID-19. There have been profound changes in so many areas of our lives here in Singapore and around the world. None has been spared, particularly the business community. This year, the Government has provided a number of useful loans to our SMEs. These include SME Working Captial Loan, Productivty Solutions Grants, Loan Insurance Scheme, the Enterprise Financing Scheme or the Enterprise Development Grant. The Government has shown its support. If more banks and financial institutions participate in these schemes, I am sure that SMEs who need cash flow will be able to receive the loans more quickly and enjoy lower interest rates as well. The job situation for our young graduates today is also not ideal. There are layoffs in a number of industries and the situation looks uncertain. Allow me to share a little about Kwang Jun De, a youth volunteer from Brickland in my constituency.”