Lawrence Wong
Singapore
“Sir, we will provide more information. I see the value of getting Ministries to put out more information, to share more about how their resources are being used and what outcomes they have achieved.”
“Sir, I agree fully with Mr Azhar that human capacity, human capital is critical. In fact, I would say the long-term potential of Singapore, how far we go really depends on us being able to maximise our human potential. That is key and that is why we have long invested in education. And it is not just about the investments.”
“Sir, we have been maintaining that commitment of 1% for some time now. I do not think it is about saying that we just have to do more and spend more. As many have highlighted, we want to ensure good outcomes from our R&D spending as well. So, we will continue if the outcomes are good.”
“This has never been the case. Temasek, when it started, was always very clear about its mandate from the very beginning – commercial, not doing national service, focused on commercial outcomes.”
“Sir, the MOF economists when they look at fiscal projections use Government's forecast of the economy, which is also published. We would typically use the mid-point of the range and then, of course, because these are in nominal terms, you have to factor for that. And the projections are done on those basis.”
“Sir, I was relieved that Mr Loh said he only has one question, but he asked the most difficult question. To answer the question, we will continue to monitor cost of living across all segments of society.”
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“Madam, with your permission, can I take Question Nos 8 and 9 together?”
“NHB will continue to support these ground-up community efforts, both in the community and within the schools. We have also launched a heritage grant scheme so that our support also comes in the form of providing resources. I am happy to say that since the scheme was launched in July last year, NHB has committed almost $3 million in funding to a range of over 90 projects, initiated by individuals and community groups to collectively strengthen our sense of history and heritage. We will continue to support these ground-up efforts.”
“Madam, I share very much the Member's suggestion that the efforts to commemorate our history ought to incorporate a very strong ground-up element. I would first say that even for the two markers that are being proposed, these were markers that had been initiated also through extensive ground-up feedback, suggestions from the communities that were involved and were affected. The Government's efforts now to have these two commemorative markers are, in many ways, a response to the community Page: 16 feedback. The Member is absolutely right that there are many other ground-up efforts and we are very keen to support these ground-up efforts and initiatives. At the school level, for SG50 next year, MOE has been discussing with the schools to do quite an extensive heritage trial to let the students initiate these. This project will be student-initiated. They will look at history from their perspective and they will find markers or historic sites which they would like to commemorate. These will be done as part of an SG50 event for the schools. This will range from Primary schools to University students. That is something that is already happening at the school level. At the community level, there are quite a number of community groups that are very interested in marking the historic sites within their respective communities. A good example is a community group from Queenstown. They had come together and put together and documented the history of Queenstown, our first satellite town. The town has just celebrated its 60th anniversary recently and they had put in place markers to document and commemorate some of the historic sites. These were supported by the National Heritage Board (NHB).”
“The Member asked if there were concerns with regard to the diminishing use of the Malay language in the community and how the teaching and learning of the language for the young can be improved. It is true that English is becoming more and more prevalently used at home today. This applies to all communities, including Malay households. It is in view of Page: 136 this trend that MOE's efforts to strengthen the motivation of students in learning their mother tongue languages become even more important. Arising from the recommendations made by the Mother Tongue Language Review Committee in 2010, MOE has redesigned its materials and teaching approaches to make lesson time more interactive. Through group discussions, debates, role-plays and the use of technology, lessons have become a lot more fun and engaging. Schools also organise Mother Tongue Fortnights annually, in collaboration with community organisations and stakeholders, during which cultural activities are showcased to stimulate students' interest in their mother tongue and help them to see how the language can come alive. Some schools go the extra mile to expose their non-Malay students to the Malay language and culture. A good example is Edgefield Secondary School where all its students learn conversational mother tongue languages, including Malay, as well as about the respective cultures, in Secondary 1. The Lee Kuan Yew Fund for Bilingualism (LKYFB) also supplements efforts through initiatives that reach out to pre-school centres, homes and the community. With these collective efforts, we hope to keep the language alive for the Malay community and to inspire more non-Malays to pick up the language.”
“Bulan Bahasa is an annual initiative of the Malay Language Council Singapore to showcase Malay language, culture and heritage, which are very much part of our shared Singaporean heritage and identity. So, Bulan Bahasa is as much for the Malay community in Singapore as it is for all Singaporeans. There has been an increased awareness of and support for Bulan Bahasa since it was first launched in 1988. In 2011, the decision was taken to make Bulan Bahasa a yearly event, instead of biennially before then. This year's Bulan Bahasa, organised with the support of the National Heritage Board (NHB), attracted over 20,000 participants, double that of last year. The programmes allowed participants, many of whom are our youth and students, to use the Malay language in a lively way. For example, the Asian Civilisations Museum featured the Rakan Rakan Muzium programme (Friends of the Museum) in which Secondary and tertiary students were trained to introduce the artefacts in Malay to visitors. In 2015, as part of our Golden Jubilee celebrations, NHB will support the plans by the Malay Language Council to organise Bulan Bahasa on a larger scale. For instance, there are plans to hold exhibitions and associated programmes showcasing the contributions of our literary pioneers and community leaders to the development and promotion of the Malay language in Singapore. The Council also intends to organise language and literature programmes, such as book talks and Malay language performances, targeted at students of all ages, from pre-school to tertiary. We hope these activities will help Singaporeans better understand this important part of our cultural heritage.”
“These include the Care and Share Movement for the social service sector, the Singapore Universities Trust for giving in the higher education landscape, the Community Silver Trust for the intermediate and long-term care sector and, more recently, the Cultural Matching Fund to benefit the arts and heritage sector. To complement these financial incentives, the National Volunteer & Philanthropy Centre (NVPC) is now stepping up its efforts to get more companies involved in giving back to the community. For example, the NVPC has started a regular series of lunches with CEOs Page: 36 and business leaders. Through these sessions, the NVPC will facilitate the matching of companies with non-profit organisations. The NVPC hopes to share best practices and build a network of like-minded companies which can make a significant impact on society and benefit many social causes. This will strengthen current efforts by NVPC to promote corporate giving, which includes many of these existing efforts like the SG Gives portal, the Community Foundation of Singapore and the annual President's Volunteerism and Philanthropy Awards.”
“In 2012, the National Volunteer and Philanthropy Centre (NVPC) surveyed over 100 companies on corporate giving. Three in five companies surveyed said they contributed around or less than 0.5% of their pre-tax profits for year 2011 to local non-profit organisations. Cash donations were the most common form of giving and the median donations in cash were about $12,000 per company that year. That comes from a survey done by NVPC with 100 companies. It is not comprehensive but it provides a dipstick. Besides the survey, we also have data from the Inland Revenue Authority of Singapore (IRAS) and, according to the claim submitted through the IRAS in Year of Assessment 2012, companies which claimed for approved tax-deductible donations collectively donated about 0.32% of their pre-tax profits, with an average donation of about $30,000 per company. In Year of Assessment 2013, this percentage increased to 0.53%. So, from 0.32% in Year of Assessment 2012 to 0.53% in Year of Assessment 2013, with an average donation of about $46,000 per company. More generally, we have seen corporate giving being on the rise. For example, over the past 10 years, donations by companies to Institutions of a Public Character (IPCs) doubled from $325 million in 2004 to $644 million in 2013. Companies have accounted for about two-thirds of total giving to IPCs for the past 10 years. There are various financial incentives in place to encourage corporate giving. First, the Government offers 2.5 times tax deductions for donations to IPCs. Second, the Government supports the good work by non-profit organisations by matching donations through various schemes to encourage giving to the social sector.”
“Madam, we understand the concerns that the Member has highlighted with the people who may have over-stretched in terms of taking on property loans. We should look at this in two parts. First of all, the cooling measures or the property-related measures which have been implemented not just recently but, in fact, since 2009, and these include tighter Loan-to-Value Ratios, cap on loan tenures or Total Debt Servicing Ratio (TDSR) framework, more recently. As I have said, at the macro level, I think these measures have worked well in stabilising our household debt situation. They have helped to strengthen household balance sheets. As I have mentioned earlier, they have, firstly, tempered the growth of household debt; and secondly, if you look at the risk profile of new borrowers, the risk profile has improved as well. For existing borrowers, as the Member has highlighted, there may be a small group who are vulnerable. That is a separate matter. Then, it is not so much in terms of taking the pre-emptive measures which we have done, but looking at help measures which we continue to do. The Government has a range of assistance measures which are focused and targeted, and these continue to be reviewed to make sure that they are effective. Page: 35”
“Madam, we will certainly step up our public education and public awareness efforts. That is part of the framework which I talked about because we do not want to go to the Tribunal immediately. We want to have residents take ownership of their own community and resolve problems on their own. Certainly, public education is something that we will be doing more of. We are also going to work through different mechanisms and not just through the Tribunal alone, primarily through informal mediation. We will be providing training for more Page: 26 grassroots leaders, for example, to be able to do such mediation. The Member talked about enforcement. Enforcement is an approach that works hand-in-hand with the Tribunal. To enforce, you need to have an order; you need to have something to enforce against. The difficulty with enforcement when you are dealing with a private dispute is what do you enforce? Whose side do you decide is saying the right thing? Somebody says "A", the other person says "B". But this is a dispute between two parties, so, what do you enforce, how do you enforce? That is why you need to go to a Tribunal first. And the Tribunal can then issue a specific performance or injunction, for example, to say that, "This person has been a nuisance, has been behaving in a way that is socially irresponsible, and so, there will be no loud music to be played between these stipulated times." Then that injunction can be enforced. In parallel with the Tribunal, we are also working with MHA to see how we can beef up some of these community enforcement processes.”
“If the respondent refuses the applicant's invitations to mediate, the Tribunal can order the parties to attend pre-hearing mediation and record any agreement as a consent order of the Tribunal that can then be enforced accordingly. We recognise that resources are required to support the effective implementation of the framework and we are working closely with MOF to ensure that the framework, including the Tribunal, will be adequately resourced.”
“Madam, the Community Dispute Management Framework (CDMF) is a holistic effort to address community disputes and to promote a more gracious and pleasant living environment for all. Our efforts, in partnership with the community, are focused not just on resolving disputes but also encouraging considerate neighbourly behaviours which are vital to preventing community disputes from arising in the first place. Community-based responses, such as informal mediation by community leaders, and enforcement against anti-social behaviour will be strengthened as part of this framework to resolve community disputes early. The Community Dispute Resolution Tribunal, which the Member asked about, will be an avenue of last resort to adjudicate long-standing, intractable disputes between neighbours. This is meant as a last recourse after all attempts at resolving what are essentially private matters have been exhausted. The Tribunal will be established under the auspices of the State Courts, and is slated to be in operation next year. We are working with MinLaw to develop the legislative framework for the Tribunal, and there will be a public consultation on the draft legislation within the Page: 25 next few months. Essentially, the Court processes and hearings of the Tribunal will be made more streamlined so that long-running disputes can be resolved expeditiously and effectively. Mediation, which is a process that encourages parties to seek a mutually-acceptable solution, will be a key prerequisite for the Tribunal. So, the person who applies to have the dispute heard by the Tribunal must first attempt to mediate with the respondent.”
“Charities are public interest entities and the public holds a high expectation of governing board members, charity trustees and key officers as they are entrusted with the proper administration of charities. Hence, integrity and honesty and not just capability, are important pre-requisites of persons in such roles. The relevant disqualification clauses under the Act are intended to protect charities against individuals who may not act in the best interests of the charities. Specifically, section 27(1) (a) of the Charities Act stipulates that a person shall be disqualified from being a governing board member or key officer of a charity or a trustee for a charity if he has been convicted, whether in Singapore or elsewhere, of any offence involving dishonesty or deception. Section 25(4) of the Charities Act states that the Commissioner of Charities (COC) may remove a governing board member or key officer of a charity where the governing board member or key officer has been convicted of an offence involving dishonesty, fraud or moral turpitude. As the Member has highlighted, the Charity Portal currently contains a declaration for board members to confirm that they have not been convicted of any offence in a court of law. I recognise that this declaration is worded more broadly than the specific provisions in the Act. I have therefore asked the COC's Office to review the wording of the declaration to reflect the intention of the Act more accurately. Page: 124”
“The Singapore Sports Hub is managed by Sports Hub Pte Ltd (SHPL) under a Public-Private Partnership (PPP). Various parties are involved in organising events at the Sports Hub. Many events are organised by private promoters working in partnership with our National Sports Associations (NSAs) and SHPL. Some are organised wholly by private promoters. To stage a major sporting event in Singapore, the event promoter has to cover all set-up costs including bringing in the team(s), venue rental, marketing the event, logistics, manpower deployment and activating the operations at the Sports Hub. It is a large undertaking, especially where the 55,000-seat National Stadium is concerned, and so the tickets are priced to factor in these fixed components. At the same time, the event promoter has to price tickets appropriately to sell. As they bear market risk, it is also in their interest to ensure good ticket sales and the success of the event. Notwithstanding this, we keep a close watch on the affordability of events which our Team Singapore athletes participate in, as we want all Singaporeans to have the chance to see our athletes in action and to be able to cheer them on. For events where SportSG is not the main organiser, it will do its best to work with the relevant parties, including the specific NSAs, to ensure that the events are accessible to Singaporeans. Where SportSG is the main organiser for such events, as is the case for the SEA Games and ASEAN Para Games next year, I would like to assure Members that it will set ticket prices that are affordable to Page: 123 Singaporeans.”
“Coins issued by the Monetary Authority of Singapore (MAS) are legal tender in Singapore for the payment of goods or services, up to the limits set out in the Currency Act. As specified in the Act, the legal tender limit for coins of denomination below 50-cents is $2. This means that a vendor is obliged to accept any number of coins of denomination below 50-cents for payment up to $2. For 50-cent coins, the limit is $10. There are no limits for payment by $1 coins. Under the Act, if a vendor wishes to set a lower limit on the quantity of coins he will accept in a transaction, he must provide a written notice of this to his customers. This may, for example, be by way of displaying a written notice. Otherwise, all denominations of the Page: 121 coins tendered by a customer as payment up to the legal limits must be accepted. Banks typically charge a deposit or administrative fee for coin deposits because they incur costs in handling coins. This includes sorting, authenticating, packing and ensuring secure transportation of the coins. The setting of fees and charges for banking services are commercial decisions by the banks. But MAS expects banks to disclose the fees for their services so that consumers can make informed decisions.”
“The Singapore Southeast Asian (SEA) Games Organising Committee (SINGSOC) is presently finalising the budget for the SEA Games, as some of the detailed specifications for the Games are pending confirmation. SINGSOC is keeping a close watch on the costs of hosting the Games, and working hard to keep costs down. For example, it has been working closely with the Singapore National Olympic Council and the SEA Games Federation to manage key cost drivers under its control, such as the number of sports and events, as well as appropriate service levels for areas, such as hospitality and competition setups. To minimise development costs, the Games will largely be held in existing sports facilities, including our new Sports Hub. SINGSOC is also working hard to seek corporate sponsorship to defray the costs of organising the Games. There will, however, be cost factors that are less easy to control, such as security provisions, which are based on prevailing risk assessments and manpower costs. Based on the experience of other SEA Games, we do not expect to generate profits out of these Games. Other than corporate sponsorship, the other main source of income is ticket sales. However, we intend to price the tickets to encourage participation and not to try to fully recover costs, let alone generate profits. We are hosting the SEA Games as part of our responsibilities as a member of ASEAN. We will do it prudently and in a way which creates lasting benefits for the sports scene in Singapore. Page: 133”
“The Sports Hub Pte Ltd (SHPL) tested a variety of turf before deciding on the hybrid Desso GrassMaster pitch, which is primarily natural turf, anchored by artificial fibres. The pitch is designed to meet the requirements of international sports federations while still being tough enough to withstand use for non-sporting events. The new National Stadium hosted the Rugby World Club 10s in mid-June, followed by the Singapore Chinese Orchestra Concert and a Stefanie Sun Concert over the following two weekends. When the non-sporting events were held, SHPL deployed special decking to cover the pitch and this minimised the impact of the stage and equipment set up on the surface. The decking was removed immediately after the concerts and I am told that the turf is growing well and the pitch is being prepared in good time for an upcoming football exhibition match. SHPL will manage the entire events calendar with an eye on ensuring that the pitch is kept in a good and ready condition for sporting events.”
“Our new Sports Hub and National Stadium are designed and operated based on both the local fire safety codes and the United Kingdom's Guide to Safety at Sports Grounds. The latter is also known as the Green Guide and it specifies international best practices in both the design and operations of stadia from a safety perspective. Where there are differences between the two codes, the more stringent safety guidelines have been adopted. Sports Hub Pte Ltd (SHPL) used validated safety and evacuation modelling software to develop its safety and emergency plans and fine-tuned them with inputs from the Ministry of Home Affairs, Singapore Civil Defence Force and the Singapore Police Force. In addition, SHPL's operational teams have experience working at major stadiums and events around the world, including Wembley, Stade De France, University of Phoenix Stadium in the USA and London Olympic Games, and are trained to manage emergencies that may arise. Public safety is of utmost importance to us. We will continue to work with SHPL and the relevant authorities to ensure that safety and evacuation plans at the Sports Hub are regularly reviewed and exercised in order to ensure public safety. Page: 110”
“For example, we will work with the National Sports Associations (NSAs) to use the SEA Games to deepen the experience and expertise of existing sports officials and to train new officials, so that we have a pool of good quality officials who can officiate at sports competitions. We are also using the Games to engage corporate partners, so as to build a healthy level of corporate sponsorship for athletes and sporting events in Singapore.”
“We are at the final stages of preparation for the SEA Games next year. Besides ensuring a successful Games, my Ministry is working closely with all stakeholders to leave a lasting legacy for sports in Singapore. Let me highlight work in three key areas. First, in how we support the training and development of top athletes. In the run up to the SEA Games, we have improved the High Performance Sports system, in the areas of coaching, training, performance management, sports science and medicine. These investments in our athlete development system will continue well beyond the SEA Games, and will enable our athletes to better realise their full potential. Second, at the SEA Games, we will showcase our full suite of facilities, including at the new Sports Hub, and our ability to host major sporting events in a smooth and seamless manner. This will profile the Sports Hub as a venue for international sporting events, and affirm our reputation as a global sports city. Page: 93 Third, through the SEA Games, we want more Singaporeans to participate in sports. To that end, my Ministry will ensure that there are as many opportunities as possible for Singaporeans to get involved in the Games, whether as volunteers or spectators. The new Sports Hub will also help to draw more Singaporeans to watch the Games live. We will build on this to create a broader following for sports and for our Team Singapore athletes. By widening and deepening the interest in sports, we are building a stronger base of support for the growth of the sports industry. In addition, we are taking specific measures to develop the industry.”
“Madam, let me answer the last question first. As I had mentioned earlier, we are already, in the preparation of the schedule, putting in place some of these buffers so that there can be postponements, if needed. These can be done without much increase in costs. For example, we have scheduled the marathon very early in the competition. That gives us more buffer time because if something happens on that particular day, then there is a buffer to shift the date of the marathon to another date later during the Page: 25 Games. These are some of the things we have done as contingencies for preparation of the Games. If the haze is so bad that certain events cannot continue, then, as I had said, some of them will have to be cancelled. I do not think this will incur significant costs. Provisions are made in the contract so that we can make these cancellations in the event of such scenarios. I think we are able to manage the cost implications from the haze. The level of air quality and the framework in order to determine when and whether or not to continue, to shift indoors, as I have mentioned earlier, these are things that are being prepared quite thoroughly for, so that we have a solid framework to guide our decisions. On the first point about overseas training, we have some preparations for overseas training. Some of these are already being done, regardless of the air quality in Singapore, simply because we want to give our athletes more exposure to compete with the best or perhaps because the training environment overseas and the exposure they have from overseas games would give them better preparation. These will be taken into consideration as well, should the air quality in Singapore worsen to such an extent that an overseas training stint is required.”
“So, if the bad air quality persists, then we may have no choice but to shorten or cancel certain events. In conclusion, I would like to assure the Member that we will spare no effort to ensure a safe Games for all athletes, officials, supporters, volunteers and spectators.”
“Mdm Speaker, transboundary haze has been an issue during the dry period between June and October. We will do whatever we can to engage our neighbours and manage the issue upstream, and we are doing so through various regional forums such as the SEA Games Federation, so that the Games can proceed smoothly. We will also have contingency plans in place to mitigate the effects of the haze on athlete preparation and the organisation of the SEA Games. Drawing on lessons learnt from dealing with the haze in recent years, we will work closely with the National Sports Associations (NSAs) to ensure that Team Singapore athletes can continue to train safely in the event the haze returns in the run up to the SEA Games. This includes arranging for indoor training where possible when the haze situation worsens. Page: 24 The Singapore SEA Games Organising Committee (SINGSOC) is also making plans to mitigate the impact of the haze on the organisation of the Games itself. For example, SINGSOC will build in buffers in the competition schedule to allow for the postponement of events if necessary. SINGSOC is also developing a framework to determine whether or not to proceed with events at differing levels of air quality. The framework will take reference from the air quality descriptor and public health advisories issued by NEA and will be overseen by a committee comprising representatives from the International and Asian Sports Federations, as well as experts in various fields, such as medical, communications and security. Based on this framework, we will postpone events or move them indoors, as and when the need arises. But not all sports can be played indoors and there are limits to how much we can adjust the competition schedule.”
“Sports Hub Pte Ltd (SHPL), the company appointed to build and operate the Singapore Sports Hub, has conducted studies on the projected flow of traffic and commuters at the Sports Hub on both event and non-event days. SHPL is also working closely with Sport Singapore (SportSG), LTA and SMRT Corporation to monitor and improve traffic and commuter management at the Sports Hub and will consider the Member’s suggestions on the use of data analytics for this purpose. I would like to take this opportunity to highlight that the Sports Hub is designed to be well-served by public Page: 157 transport and to encourage visitors to the Sports Hub to take public transport. For major events, SHPL has introduced a system of pre-sold car parking which has been used successfully by stadiums in other countries, such as the Stade de France, so that visitors can have certainty in advance on whether parking is available should they choose to drive. As the Sports Hub is new, we recognise that travelling habits and patterns will take some time to adjust. Meanwhile, SHPL will continue to step up its public engagement efforts and also fine-tune traffic and commuter arrangements based on feedback and actual experiences on the ground. Page: 158”
“Singapore is a diverse society. The Government has always sought to bring all parties to the table so they can hear and understand the views of different segments of our society and seek common ground. Where views differ sharply between different groups, the Government's priority is to ensure that these differences do not result in deep divisions in our society. So, we encourage groups to exercise restraint and moderation in expressing their views, and also to respect those who may hold different perspectives. As the elected Government, we must bear the interest of society as a whole in mind. Through REACH and other public consultation platforms, the Government regularly seeks views and feedback from a wide spectrum of Singaporeans. This provides a platform for Singaporeans to understand that there are often multiple perspectives and helps us to shape informed and inclusive Government policies. Over the years, we have intensified our efforts to engage with more stakeholders through different platforms. For example, nearly 50,000 Singaporeans participated in last year's Our Singapore Conversation (OSC). It was an opportunity for Singaporeans holding different views to dialogue frankly with one another. Through the process, many came to realise that different views had to be respected and reconciled, in order for us to find a way forward together. Mutual respect in dialogue between fellow citizens is something that the Government will continue to encourage. To promote this, our platforms will not only be opportunities for citizens to dialogue with the Government, but to also dialogue openly with one another in the spirit of mutual respect. This is how we can seek common ground even as we acknowledge our differences.”
“With global interest rates at very low levels, it is quite understandable that Singaporeans should want better returns than what bank deposits offer. But most local savers already own a property in Singapore, and have to be concerned about how much concentration they can afford to have in properties, especially when taking risks in overseas property markets. Property markets tend to move in cycles, and several of these markets have already seen significant run-up in prices. Financial advisors also advise that investing in a diversified portfolio of assets, such as bonds and equities, in addition to the property they already own, is generally a more prudent way to seek good returns, and at lower risk than concentrating investments in properties. We are developing our financial markets so that retail investors have broader options for earning returns. The bond market, in particular, can offer better returns than bank deposits, with risks that are not excessive. MAS is working actively on measures to encourage well-rated companies to issue bonds, and to improve retail investors' access to the bond Page: 136 market.”
“Overseas property purchases by Singaporeans have increased significantly in recent years. The value of such purchases made through real estate agents in Singapore has grown to S$2 billion in 2013 from S$1.4 billion in 2012. Page: 135 MAS is concerned that some individuals may be over-extending themselves through such investments, or may not recognise the risks involved. MAS has, therefore, issued warnings about overseas property purchases First, the risk of price fluctuations may be more difficult to assess or manage in overseas markets, which investors are likely to be less familiar with. Second, there are foreign exchange and interest rate risks. Third, the legal and regulatory framework governing property purchases and financing agreements in other countries may not provide the level of protection that investors are used to in Singapore. The Council for Estate Agencies (CEA) has also been highlighting these risks. CEA issued an online guide in March 2014 on what investors in overseas properties should look out for. These include finding out about rules or restrictions on foreign property purchases and ownership, the taxes payable, and the dispute resolution avenues available in the foreign market. To encourage financial prudence on the part of both borrowers and financial institutions (FIs), MAS' Total Debt Servicing Ratio (TDSR) framework covers all loans taken from FIs in Singapore to finance property purchases, whether in Singapore or overseas. When a borrower seeks a property loan, the FI is required to include in the TDSR all existing debt service obligations, including those relating to any foreign property purchases.”
“Madam, as I have said, MAS will review the policy of managing dormant accounts and unclaimed funds and we will look at the experiences of other jurisdictions, including the one in the UK. I would acknowledge that there are dormant account laws and these are quite common in developed jurisdictions. Not everyone has it. For example, Germany does not have it; Hong Kong does not have and neither do we. But there are jurisdictions with dormant account laws and, typically, these dormant account laws, the focus is on protecting the owners of the fund and removing the burden from the financial institutions in managing these funds. The dormant accounts are usually untouched for several years – 10, 15 years or more. In many instances where they have these laws, when the funds are unclaimed, they are, in fact, transferred to the national treasury. The UK is an exception where they allow some funds, not everything, to be transferred over to a spending account which are then used to provide funding for some charities. We will have to study these experiences, how it has been in the UK, what are the experiences in other countries as we think about reviewing our policy on managing dormant accounts. Page: 45”
“SG50 is an opportune moment for us to reflect on what we have been through together – to honour our Pioneer Generation, to celebrate the values that make us Singaporean and to envision our future as a nation. We invite all Singaporeans to embark on this journey together – to imagine and strive for what our home can be. Page: 24”
“We will work with partners in the community, like the Community Development Councils, the Charity Council and the National Volunteer and Philanthropy Centre, to promote a nationwide spirit of giving. We will also reach out to the disadvantaged segments of society through the arts and sports, using these as platforms for engagement, motivation and rehabilitation. We will encourage more businesses to become partners in meeting the needs of the community. We want giving to be part of the DNA of corporate Singapore. For our seniors, we will explore more ways for them to make meaningful contributions to the community, even in their silver years. For our youths, we will expand opportunities for them to contribute to the community in sustained and impactful ways, including in the newly-established Youth Corps Singapore. Beyond the Youth Corps, MCCY will strengthen our efforts to reach out to youths. We want to make culture more accessible for our young, so that all are exposed to arts and sports at an early age, and given opportunities for deeper engagement. We want to create an environment where young people are inspired to dream and committed to action for the common good. MCCY and the National Youth Council will work together to coordinate and lead youth engagement efforts throughout Singapore. We will strengthen the Kampong Spirit by promoting community values of harmony, graciousness and contribution, and step up our efforts to bridge differences within our multicultural society. We will continue our efforts to promote good neighbourliness and harmonious community relationships with various partners, such as the Singapore Kindness Movement and the Inter-Racial and Religious Confidence Circles. Page: 23 In 2015, we celebrate our Golden Jubilee.”
“We will also form an island-wide network of community arts nodes, community museums and galleries, as well as heritage trails. MCCY will continue to expand opportunities for everyone to participate and excel in sport. Through ActiveSG, our new national movement for sport, we will offer more sporting programmes in the community and galvanise the nation to live better through sport. We will ensure that Singaporeans of all abilities have access to sports and recreation facilities. We will build a new network of modern sports facilities island-wide at the national, regional, town and precinct levels under the Sports Facilities Master Plan, starting with the new Sports Hub and National Stadium which opens its doors in June. When the Master Plan Page: 22 is completed, sports facilities will be available within a 10-minute walk of most homes. As we prepare to host the 28th SEA Games and the 8th ASEAN Para Games in 2015, we will continue to support Singaporeans with the ability and potential to excel in sports and do Singapore proud. We will work with partners, like the National Sports Associations, to develop more pathways, capabilities and programmes to help talented athletes pursue sports excellence. Through the Singapore Sports School, we will improve the quality of training support accorded to student-athletes, while continuing to provide them a sound academic foundation. We will continue to enhance our High Performance Sports system to help Team Singapore athletes become leaders and champions in their respective sports. MCCY will continue our efforts to support the charity, co-operative and voluntary sectors.”
“Through the arts, sports, community and youth development, MCCY seeks to create an environment where all Singaporeans can pursue our aspirations for fulfilling lives, contribute to the community and foster a strong sense of belonging to Singapore, our home. We will press on with efforts to develop Singapore as a distinctive cultural capital. We will continue to support our artists and arts groups, who play an important role in this journey. We will enhance and make performing arts spaces more accessible, provide arts housing and develop incubators for the arts. We will also open doors for our artists to showcase their works on the international stage. We will develop and enhance our national cultural infrastructure. We will have the new National Gallery of Singapore by late 2015 to tell the story of Singapore and the region through visual arts. We are enhancing the National Museum of Singapore and the Asian Civilisations Museum, to better engage Singaporeans about our shared history. A new Indian Heritage Centre in Little India is slated in early 2015 to join our existing Malay Heritage Centre and the Sun Yat Sen Nanyang Memorial Hall as Heritage Institutions for Singaporeans to learn more about our rich multicultural heritage and identity. In the performing arts, we are finalising the refurbishment of the Victoria Theatre and Concert Hall, and refitting the Esplanade to enhance its spaces. We are also adding new venues like the Singapore Chinese Cultural Centre. Singaporeans can also look forward to the inaugural Singapore International Festival of Arts this year. We will step up our community engagement efforts to bring culture to everyone, everywhere, every day. We will establish a Public Art Trust to fill our public spaces with works of art.”
“The finals of the Community Games 2014 will be held at various venues including Community Clubs, Secondary Schools and Sport Singapore (SportSG) facilities. They will not be held at the Sports Hub as its facilities were not open for booking when the games were planned. The second Singapore National Games (SNG) will be held in the second half of this year. SportSG will hold some finals of the second SNG at Sports Hub venues such as the Multi-Purpose Indoor Arena and Aquatic Centre. This will provide opportunities for Singaporeans to enjoy sporting experiences at the Sports Hub, as participants, officials, volunteers and supporters. Page: 132”
“Madam, on the first question on registration, whether they are up to expectations, I would say that we have had a good response so far. It is difficult to say what the expectations were from the outset, but generally, we have had good response and feedback from the implementation. We will continue to publicise the scheme to make sure that there is widespread awareness from the public. On the second point on unlicensed moneylending cases, unlicensed moneylending is a serious criminal offence. And so, the PDPC would want to work with the Police or to refer these cases to the Police to follow up on. We will continue to track them but we do want to make sure that the cases are dealt with in a serious fashion because of the gravity of these offences. The PDPC does not take unilateral action but they will work with the Police to make sure that there is follow-up on these cases. On the third point about composite fines, and the fact that there was only one case with a view to prosecution and what would be the follow-up for the other cases, this will again depend on the seriousness of the offence. As I had mentioned, offers of composition had been made for two so far. And quite a number may also end up in this category. The very serious cases, the PDPC will certainly continue with prosecution. I am unable to give a breakdown today because investigations are still on-going for many of the cases.”
“Madam, to a large extent, I think the unhealthy dynamics of competitive bidding, causing prices to go up, have been addressed through cross-carriage, in the sense that whatever the entity that bids for it recognises and knows that that product has to be cross-carried on other platforms at the same price. So, it does not matter whichever price you pay for and whichever operator gets the rights to broadcast, if he chooses to do so on an exclusive basis, under cross-carriage, that content has to be carried at the same price on other platforms. So, that, to some extent, would already have ameliorated some of these internal bidding dynamics that the Member talked Page: 26 about. That is why I say, even if you have a joint bid or if you have MediaCorp coming to it, yes, I acknowledge it may have some impact, it may help to reduce marginally, but I do not think it will significantly move the needle. We know from the assessment of the pay-TV operators, who have been in this game and business, that there is basically a range where FIFA is looking at in order for us to secure these rights to broadcast the World Cup; that is where they are looking at. This is the range; it is a narrow range, but you need to pay that amount of money in order to get the rights.”
“PACE – I do not have details, too, but I would imagine that they would have given feedback if it was something that mattered to them in terms of consumer pricing and the concerns that occurred even before the EPL and the World Cup Page: 25 experience the last round. But as I said earlier, fundamentally, the challenge is not something that you can overcome because the fundamental nature of this is that the rights owner, FIFA, has a monopoly over the rights. It is a content owner who has increased in popularity around the world and they are now having the ability to charge higher prices to all markets. And in a market like Singapore, which is small, which has high demand for football, they will look at that market and say, "Well, I think you have the purchasing power to pay a high price", and they will do so accordingly. They cannot do this indefinitely because, at some point in time, if we are prepared to say, "Look, we will walk away", then they will realise that the dynamics are changing. But until then, until such time that this happens, it is very hard to change the fundamental dynamics, which is, that they will look at us as a market that can afford this rate. It is something that we have to bear in mind when we do our review, that this is the reality of the landscape. As we do our review for cross-carriage, anti-siphoning or any other regulatory suggestions and measures that Members may have, we will have to think through how best to structure this because, ultimately, then somebody has to pay. It may not be the consumers but it may be the taxpayers, but somebody will then have to pay FIFA for the rights until the dynamics fundamentally are altered.”
“Madam, on the regulations or proposed regulations that the Member asked for, to require that negotiations or the contract be wrapped up 12 months earlier, is something that MDA can look at. I would say that MDA is not opposed to looking at any form of regulation but it will always apply a cost-benefit to these regulations, meaning to say, what is the benefit of making a regulatory move and weighing that against the costs, which may include inadvertent consequences to commercial operators, and the perceptions that it will create in our pay-TV market. In this instance, I am not familiar with the details but I would imagine that one would ask the question: if MDA were to impose such a requirement, would it end up with a situation where the pay-TV operators, or whoever submits a bid, may actually end up paying a higher price inadvertently, because you are forcing them to negotiate and wrap up within a certain time limit. I am not sure, but it is something that MDA would have to answer or look at, weighing the benefits and the costs of the regulatory measure. Singapore Pools does contribute. I do not have the details with me but they do contribute and they do provide support through a wide range of different schemes in the sense that it is not just for MediaCorp but also for the community centre viewing. They provide some support, as I understand, to various platforms to allow Singaporeans to view the World Cup. I do not have the details of how much they provide. That is something we can take separately, but they do provide support for the World Cup viewing.”
“For all the revenues that SingNet is getting from the World Cup content, it probably will not be able to cover the costs. The question the Member also asked was: what about having all the matches put on the anti-siphoning list, having a Free-to-Air broadcaster bid; or, for that matter, as some have suggested, why not make a joint bid? But, as I have said, this does not matter from the FIFA perspective. From a property owner perspective, they look at the market, meaning the entire country, and what the country can afford. And whether it is a joint bid, a Free-to-Air broadcaster bidding or a pay-TV operator bidding, those may have a little bit of an impact on the negotiation dynamics but it will not materially change the game, which is that they will look at the overall purchasing power of the market, that is what FIFA looks at. And as I have mentioned earlier, fundamentally, that price has been going up across the board, not just in Singapore.”
“Madam, I think these are relevant questions that people have been asking. It is true that MediaCorp has to pay SingNet to acquire the four matches and that is only simply because FIFA does not bundle and separate out its package: four to sell to MediaCorp; the rest, to sell to SingNet. FIFA does not do that. FIFA sells the entire package to one purchaser. That purchaser can be a pay-TV operator; it can be a Free-to-Air broadcaster. It does not matter. For them, they look at the market, the purchasing power of the market. They will sell to whoever bids for it as an entire package. Page: 23 How the person who bids for it then breaks it up into the different channels and the different events, that is not something that FIFA looks at because that depends on the domestic rules: what is in the anti-siphoning list and what are the cross-carriage measures. In this case, MediaCorp will have some ability – it already has worked out an arrangement with SingNet – to acquire the matches that are on the anti-siphoning list – the opening, the semi-finals, the finals. I will imagine that there will be some cost apportionment between SingNet and MediaCorp, and they will work out the cost. And MediaCorp, through its sponsors, through its advertising revenues, would then be able to acquire these matches. I cannot reveal the specifics of the pricing because these are commercially-sensitive figures. But that would have been worked out between SingNet and MediaCorp. I would also say that SingNet, based on all the revenues that it is getting from the World Cup content, actually is not able to recover the costs of acquiring the content today. So, this is not a matter of SingNet profiting or getting a handsome dividend from acquiring this package.”
“So, we have to understand the broader dynamics that are happening in the negotiation as well.”
“Madam, I understand where the Member is coming from in terms of the popularity of the sport and also the concerns about pricing. Page: 22 We have to understand, as I have mentioned earlier, that, inherently, this is an issue where the rights owner, the property owner, calls the shots. And they have been doing so across all jurisdictions because broadcast payment has gone up 20% to 40% around the world, not just in Singapore. Some countries are able to offset that in a more effective way because they have bigger markets, they can get more sponsorships and more advertising revenues. So, different countries find different ways to price the content to the consumers but, across the board, the acquisition cost has gone up. All the countries are paying more to FIFA and that is, I think, how the business has evolved over the recent years, in terms of premium sports content, in particular, football. It is something we have to review. As I have said, we are going to review our anti-siphoning list. We are going to review our cross-carriage measures as well. I am not sure that these would inherently change the dynamics of the game because these are internal measures. In the end, however we adjust, somebody has to pay FIFA this amount of money. We have to look at it in two aspects: one, understand the realities of the football market today. This is what is happening. We are, unfortunately, a small market with a high interest in football. And we may not have enough of a subscription base or an advertising revenue base to offset the cost, unlike other countries. In such a dynamic, in such negotiations, ironically, the more desperate we are to acquire, the more the rights owner on the other side will feel that they have the ability and the leverage to charge us at a high price.”
“Instead, the cost burden will then have to be borne largely by the Free-to-Air broadcaster. Doing so would then divert a significant portion of PSB monies which are used to support a diverse range of programming covering varied interests and genres, including support for minority channels, as well as programmes that promote Singapore's culture and heritage. In conclusion, MDA has to achieve a delicate balance. It should not be hasty to adopt populist measures that ultimately backfire, leaving consumers even worse-off. I would, however, like to assure Members that MDA will continue to review its policies, including cross-carriage, as I have mentioned earlier, and the anti-siphoning list. Cross-carriage will be reviewed as part of a larger review of the Media Market Conduct Code later this year. As for the anti-siphoning list, the public was last consulted on this in 2012, and will also be reviewed in due course and I would encourage Members to provide feedback during the review of these policies. Er Dr Lee Bee Wah (Nee Soon): Thank you, Mdm Speaker. I would like to ask one supplementary question. I note the Senior Minister of State's reply that we are a price-taker, not a price-setter. However, football is very popular among Singaporeans and there are many countries which telecast World Cup free-of-charge, such as Japan, South Korea and even neighbouring countries like Thailand, Indonesia and Cambodia. Can the Ministry look into doing more for fellow Singaporeans who do not subscribe to those paid channels?”
“They also included matches featuring Team Singapore, but that is not relevant in our context, so, the four key matches are the opening, the semi-finals and the finals. For the upcoming World Cup, Singapore viewers will be able to watch these matches on MediaCorp. Besides the matches on the anti-siphoning list, I also understand that the People's Association (PA) is in talks with SingNet to screen the World Cup matches for free at several Community Centres across the island. Some Members have asked for more regulation of subscription prices for sports content. But the key is that content owners like FIFA are not obligated to sell their content at a price they do not agree with. It is not something we welcome, but on this issue, we are unfortunately a price-taker, and not a price-setter. We cannot wish away the fact that the cost of premium sports content Page: 21 has been rising globally, not just in Singapore. Broadcasters around the world are paying anywhere from 20% to 40% more for the broadcast rights to the World Cup 2014 compared with the previous edition. Comparisons of subscription prices across different jurisdiction are also inherently fraught, as the operating circumstances in each country are different. There are wide variations in terms of the size of the pay-TV market, as well as the potential advertising and sponsorship revenue available to broadcasters. Some have asked why MDA did not put all World Cup games on the anti-siphoning list. I think the rationale is that if you have an overly long list of World Cup matches on the anti-siphoning list, that may lead to unintended consequences. In particular, pay-TV operators will then have little incentive to acquire the matches.”
“Pay-TV retailers have also shifted their strategy to compete for subscribers on value-added services, like mobile apps that allow subscribers to watch TV on the go. From this perspective, the cross-carriage policy has achieved its objectives. The policy has just been introduced and we will want to continue to review and see how it can be further fine-tuned and improved. I would like to remind Members that the intent of cross-carriage is not to regulate content prices. So, we should not judge its effectiveness in terms of whether content prices have dropped. In fact, the acquisition and provision of top-level sports content on TV is not just left to market forces alone. The Government is committed to ensure that key sporting events, particularly those of national significance, are available to all Singaporeans, and not just on pay-TV. This is why MDA supports MediaCorp's provision of sports programming featuring Team Singapore athletes, including the Summer Olympics, the Commonwealth Games, the SEA Games, all of which through Public Service Broadcasting (PSB) funding. MDA also puts such events on the anti-siphoning list and this was updated only last year, following a public consultation. An event on the anti-siphoning list means it must be available for Free-to-Air TV broadcasters to acquire. And I should explain that placing an event on the anti-siphoning list does not mean that the programmes will be free. It simply means that pay-TV retailers cannot acquire the content on an exclusive basis, therefore, giving the Free-to-Air broadcaster an opportunity to acquire these rights. For the World Cup, MDA included four key matches, which are the opening, the semi-finals and the finals in the anti-siphoning list.”
“Madam, on 12 March 2014, SingNet announced that it had acquired the exclusive broadcast rights to the FIFA World Cup 2014. SingNet announced that it would sell the World Cup 2014 content as a standalone channel, at $105. Since then, they have offered an Early Bird price of $88. This Early Bird price is the same price charged by the pay-TV operators for the 2010 World Cup. That is the regular 2010 price, so this year's Early Bird price is the same as the 2010 regular price. Furthermore, for those who commit to subscribe to the Barclays Premier League (BPL) content for two years till 2016, SingNet will provide the World Cup content at no extra charge. In other words, the average price paid per subscriber for World Cup 2014 will be significantly lower than $88, once we add the subscribers who will obtain it at no additional cost. With cross-carriage, all SCV subscribers would be able to enjoy the World Cup package through their SCV set-top boxes at the same $88 Early Bird price offered by SingNet. And this is precisely the purpose of the cross-carriage measure – to widen the distribution of exclusive content across all qualified pay-TV retailers. Indeed, cross-carriage has been successful in reducing content fragmentation in the Singapore pay-TV market. Back in 2010, there were only seven channels available on both pay-TV platforms. Consumers had to install multiple set-top boxes from different retailers to enjoy the content they wanted. Today, there are over 60 channels available on both SingNet's and SCV's platforms. These include entertainment and sports channels, such as Celestial Page: 20 Movies, National Geographic Channel, FOX Sports and STAR Sports.”
“Madam, I agree with Mr David Ong's suggestion on building up more sports ambassadors. We are already doing so. There are two groups that we are doing this with. One is our current athletes. I think we can do more to profile them, and to bring them out into the community to engage young children to motivate them. There is a plan to do that. We can also do another second group, and it would be for the former athletes, including many pioneer athletes like Mr C Kunalan. Again, we will see how we can engage them better, and tap on their experience, stories to motivate and go out to engage the community, including many of our young children in schools. That is something which we are planning to do.”
“Madam, I do not have any specific details which I can provide satisfactorily to the Member. I mean these are things that we will continue to do, because Nee Soon is in the pipeline. I do not have the details with me, but we can discuss offline when it is coming. Our plan is a long-term plan and progressively it will cover the whole of Singapore. On table tennis in the Sports Hub, we rely on organisers and promoters to bring in international events. I think if there are interested parties who would like to discuss with SSC or the Sports Hub Private Limited – the consortium running the Sports Hub – on anchoring an international table tennis championship in Singapore, we will be happy to discuss this with them.”
“I would like to ask the Minister when will this be done because I did not see Yishun in the beautiful pictures yesterday. Next question. I am very excited about the new Sports Hub. I am glad to see that there will be world-class tennis and netball events, but we seem to have forgotten about the game that has brought us three Olympic medals. When will we have a world-class table tennis competition in Singapore?”
“On the first point, sports entertainment is something I think we want to build up. We do not have a lot of expertise in this, but that is a direction to go for some of these sports events, which can be built up to more than just sports alone but can incorporate entertainment and lifestyle. We have already done it quite well for the F1. The next major project which we are doing is the WTA Championship, and STB and various Government agencies which have been involved in the F1 are also assisting and discussing with WTA Championship organisers on how they can make that event into more than just a tennis event, but also a broader entertainment and lifestyle event. Progressively, as we build up these capabilities, we will be able to do more in other sports as well. On corporate giving, I do not see that as detracting from our efforts to promote individual giving. They are mutually reinforcing. Many individuals who give are themselves corporate leaders, and so as leaders in the corporate, if they are good individual givers, then, hopefully, they would also take that approach in the way they manage their companies and that culture can then be translated into the workplace. The other way round as well, because if somebody who is running a company, an SME, does something within the organisation, they can take a personal satisfaction in giving, that will hopefully filter down into their own personal lives. Er Dr Lee Bee Wah (Nee Soon): Thank you, Mdm Chairman. I have two clarifications. I would like to thank the Minister for not forgetting about Yishun in the community-based sporting-based facilities planning. Many residents say Page: 29 that the swimming pool is very run-down.”
“Madam, I agree with the Member that capability building is an important part of this. We need to do more for capability building in terms of the cultural officers within Government itself, not necessarily just within the PA and CDC, because some of them also reside also in the libraries and some of them reside in the Esplanade which also does a lot of community outreach. So, we are looking at how we can strengthen that. That is certainly something we are focused on. Likewise for what the Member talked about, there is a lot more bridge building that we need, as she has put it. Similarly, we will have to strengthen that part of what NAC is doing today – establishing these linkages with many of these overseas platforms. We will study whether we can extend funding and support to intermediaries, meaning to say, we do not necessarily have to do everything within Government. We can find partners that we can do the work with. On the last point, we would certainly be open to using the fund to support the wide range of Singapore's arts and culture, not necessarily limited to what MCCY is looking at, including film, music and design. Page: 28”
“We will look into the suggestion. In fact, we are having a public consultation now for the Community Dispute Resolution Framework, including the way the tribunal operates, but we will be happy to take the suggestion and study this. We have not finalised but I must add the qualification that whatever measures we take, we must not undermine the personal ownership and responsibility for resolving the dispute. So, even if the application is by a third party, there needs to be responsibility placed on the parties in dispute to want to come together to resolve the dispute by themselves.”