Penny Low
Singapore
“These amenities will offer recreational choices and also prevent traffic congestion to the new town when it is built. Will MND look into these suggestions favourably and also work with MOT to prevent congestion?”
“Going forward, the quality of our lives will also depend on how well we can integrate knowledge with technology and creativity to find solutions with daily, social and economic concerns. What plans are there to encourage people to act responsibly, dream up new ideas and design for a better world?”
“Let us navigate the sea of change with mastery of seafaring skills, guided by the light of the stars and not by passing fancy ships. Only then can we continue to be that extraordinary little red dot the world envies; only then will we know that the future generations will continue to be world-beaters and make their families proud.”
“These considerations should be part of the MediShield Life design so that it is holistic, it incentivises the desired behaviour and it improves the overall health outcome of our Page: 122 nation.”
“Thank you, Deputy Speaker. Clarification, Sir. The Minister mentioned that MediShield premium payments can be paid for by immediate family members.”
“Mdm Speaker, there have been more reports on the increase in rodents lately and I am wondering whether NEA has done any study to discover the reason for such an increase, or is it that there is just more visibility of rodents in, especially, housing estates.”
The complete record
Every one of 773 lines we hold for Penny Low, in date order, each linked to its source. Free to read, in full, without an account. Page 15 of 16.
“5% per annum, they would have accumulated a nestegg of more than $1 million in their CPF. In other words, almost every other Singaporean household could be a millionaire household when they retire! But this could be history. With CPF funds pouring into property and half-understood investments, it was reported that most Singaporeans would not even be able to meet the Minimum Sum when they retire. Therefore, bolder steps to move cash into the retirement account should be advocated with urgency. The Special and Retirement Accounts' interest rate of 4% per annum is highly attractive and, in fact, generous in such times. Could the Government use this as an incentive to incentivise members to voluntarily contribute additional funds in the above accounts? Could cash also be accepted? Could there be further tax relief for those who bite? Obviously, members would have to reckon that such voluntary contributions can only be withdrawn at retirement age. The current recommendation of a moderate increase to the retirement account is too little, too late. This could be a one-time exercise or a long-term strategy if the Government can afford it. Ultimately, it is either we encourage self-funding or state funding. Second, on investment account. Investment via the CPF scheme should be properly missioned and managed. It is a nestegg and should be treated as such. While there is nothing wrong with advocating self-investment, the assumption must be that all CPF members comprehend the principles and tools of investment. But is this a reasonable assumption? I do not think so. Most investors who make use of the CPFIS are, in fact, first-time investors. Like fire, this resource is useful to those who know its risk and learn how to use it.”
“If this is not evident enough of our obsession with property, a 2001 paper by the Wharton-SMU Research Centre showed that the average Singaporean has 75% of his assets locked into housing, compared with 20% in the USA. What then is left for retirement? Answer: a big house, small cash, and perhaps arrears in payment. Perhaps the Government can set up a study group to examine ways to help Singaporeans unlock the value of their property to encourage self-sufficiency. As in the case of property, but perhaps to a lesser extent, the financial market boomed as millions of dollars were poured into the CPF-approved financial instruments. All these would have been good news, except that the starry eyes that went in came out tearing, as the volatility in these investments proved too much to stomach. The consequence of such a development, if unchecked, will result in an urgent call for a bigger provision for social security measures, either through forward financing - meaning we have got to pay more tax today - or a burden on the next generation of taxpayers, and more deficit budgeting in the years to come. All these are undesirable. What is the alternative? I think the move by the Government to relook and realign the CPF scheme is a wise one, but one which needs to be done at an accelerated pace and more decisively. I have four basic suggestions: First, on the retirement fund. CPF should stay true to its original objective of providing a nestegg for its members. This should remain the primary and single most important objective. In the original scheme of things, assuming that an average couple earns an average annual income of $50,000 per year, and works for 35 years, at the original contribution rate of 40% and an interest rate of 2.”
“The CPF scheme is a sacred cow not to be slaughtered. Started in 1955 as a simple retirement savings scheme, it is a scheme that encourages the virtues of work and thrift, and saving for rainy days. The scheme's sole purpose was that of nestegg accumulation, so that members can be self-reliant when their income stops. Today, the CPF scheme has evolved into a multi-layer and multi-purpose scheme which not only confuses some, but no longer a reliable nestegg for many. In good financial planning practice, it is important to earmark specific resource for a specific goal. Otherwise, the multi-use of a resource with separate goals can lead to conflict, confusion and an intertwined web of different objectives. Sir, a slave of many masters faces multiple duties, obligations and functional woes. This, to me, appears to be the dilemma faced by our CPF scheme. Over the years, this simple compulsory savings scheme has come to mean different things to different people. As much as it is a life-line for retirees, home owners and investors, it is also a source of lifeblood for some of Singapore's economic initiatives. This is evident in industries where CPF funds can be channelled into. Clearly, in the residential property market and, to a lesser extent, the financial market, each relaxation of the CPF rules, from 1980s to 1990s, to allow for more funds released into the respective industry, never fails to fuel the industry. According to the Department of Statistics, $119 billion was poured into housing over the last 10 years while $12.5 billion was withdrawn from CPF in the year 2000. And where did it go? Into housing.”
“Sir, to lessen the shock and pain felt by some of our workers, I advocate the setting up of a proper job transition mechanism using a holistic approach. Perhaps under the new CET Institute to be set up under the Ministry of Manpower, retrenched workers can receive advice and counselling that is beyond simple job matching. We can assist displaced workers by a four-step process: First, give them emotional counselling, so that they are better able to absorb the retrenchment news; Second, give them financial counselling, so that they can better manage their living expenses and better deploy their retrenchment benefits; Third, retrain them or job match them, so that they can have a meaningful placement; and Fourth, for those who desire to venture into entrepreneurship, they could be redirected to an entrepreneurship agency, so that they can learn to better assess and manage their risk. Mentorship programmes can be encouraged and access to business networks, opportunities and infrastructure could also be facilitated indiscriminately. In other words, whether the entrepreneurial activity is in the low-tech, high-tech or no-tech industry, the desired outcome is to get our people to adopt a different mindset - a mindset to carve out a niche for themselves to stay nimble and be self-reliant, a mindset to embrace risk as part of their daily staple. On CPF. Mr Speaker, Sir, I support the policy on the temporary freeze on CPF restoration for two years. However, I hope that employers who are doing well will reward their employees and put back some of these CPF reductions to their salary either in the form of monthly variable component or even yearly bonus. This would augur well for long-term employer/employee relationship. Perhaps the civil service may want to lead by example.”
“That would certainly not cultivate the right spirit and attitude of the nation. But the call for a psychological dimension is an important one. It is a call for the alignment between the leadership and the people, so as to achieve accelerated growth. We must see our people not as functional economic units of production but as meaningful value contributors. Henry Ford was a gem at mass production but could not have been more mistaken when he asked, "Why is it that I always get the whole person when what I really want is a pair of hands?" We need to understand that in this knowledge-based economy where changes are happening everywhere, fast and furious, the sense of anomie may be heightened if we lose track of our case. People work for a living, but live for a cause. And it is in this process of working towards the cause that establishes Singapore's and Singaporeans' modus operandi and identity. If we are in a branding exercise, this exercise will have to start at home, and not just with IE Singapore. I hope the relevant agencies involved in this "branding" exercise, including the new institution for continuing education and training, will focus on firing up the passion in every person, rather than impart mere technical skills to mechanically "retrofit" people for jobs. Restructuring means uncertainty; it means change, and sometimes pain. It is traumatic for workers accustomed to a full employment situation to find themselves, firstly, being retrenched; secondly, asked to go for retraining - sometimes in an alien field; and, thirdly, to realise the call to be self-employed contract workers and embrace entrepreneurship, preferably of the high value-added type. To many, this seems like a triple whammy! Many workers have neither the skills, resource nor mindset to do so.”
“It has done a great deal in the last one-and-a-half years since election, to augment both the supply and demand sides of labour, in a bid to align the differences created by the advent of technology, as well as economic restructuring, to higher value-added manufacturing and service industries. But have we done enough? Is our plan bold enough? I believe we can be bolder and not tiptoe this golden opportunity to effectively deal with our economy and seal our people's emotions to this land. My colleagues have dealt in both length and breadth about possible bold measures, and I would like to focus on achieving the greater buy-ins from our 3Ps - the people, private and public sectors - and the CPF. First, on the people sector. As I listened to the Budget Statement that has been shaped to embrace most of the ERC recommendations, right at the back of my mind is how do we fire up the imagination of Singaporeans to have a sense of mission to embrace these changes? What is the mental picture of Singapore in the year 2010 and beyond? Do the people on the ground really understand the ERC Report? I refer to the Straits Times article on 1st March 2003 written by Mr Tan Tarn How entitled, "A dose of mild medicine for economy in transition". In the article, he surmised the lack of psychological dimension for the people in this Budget. I acknowledge that. No new "goodies" - yes, that is true, but the Budget does extend existing goodies, like the S&C charges, rental rebates, and so on, to help Singaporeans tide over these difficult times. A little help here and there would be heartwarming, but we must avoid fashioning the Budget Statement into an annual "goodie bag" or, worse, even lucky draws, as some benefits would only apply to specific segments of the population.”
“Mr Speaker, Sir, after listening to more than 50 speeches in this House, I cannot but observe the many contradicting demands we have on ourselves. To illustrate my point, the business community does not want the Government to interfere with business, but urges Government funding and facilitation that will bring the civil service back into the business community. Our people have been asked to be self-reliant but, at the same time, goodies would be welcome. Many have also called for pump priming of the economy but as our colleague, Mr Khaw Boon Wan, said, we should be frugal. Are we experiencing a schizophrenic existence, as my colleague in this House, Mr Iswaran, has put it, or are we confused? Or is it a case of kiasuism at work, where we want all of the best and none of the worst? Whatever the case may be, these sentiments, in uncertain times, are perhaps the necessary catalyst for change. Perhaps it is chaos before order. It is the catalyst that allows us to take the bull by its horns, to make fundamental policy shifts and even explain "labour pains", to restructure our economy and remake our society. Singaporeans are resilient. We are capable of rising to the challenge and bringing us to the next level of growth. During the last election, amidst recessionary times, the ruling party had asked for a strong mandate in order to carry out the necessary, though painful, task of change. Let us not forget that while our people showed their support, their expectations have also risen accordingly. We have a duty to our people. We promised jobs in our last election. It is evident that even in the midst of long-term planning, the Government did not forget that.”
“Am I right to assume that for teenagers who want abortion, it is not mandatory for them to bring their parents along for the counselling session? If so, why so? Because if a person who wants to drive needs to be above 18 years old, surely a person who is below 18 and wants to go for an abortion should receive adequate attention and care and some form of family support in her decision.”
“Given the many FTAs that have been signed, what efforts are taken by MTI to educate and inform the local business community about the opportunities presented in both the bilateral cooperation as well as the FTAs? BG George Yong-Boon Yeo: Mr Speaker, Sir, this year, MTI and its economic agencies will be stepping up efforts to explain the provisions of these FTAs to all companies in Singapore. We are working with trade associations, the chambers of commerce and the SBF. We run a 1800-telephone call service for those with questions. We have a website and you can be sure that we will be sparing no effort to explain to Singapore companies the advantages that they can gain by making use of the provisions in some of these FTAs.”
“In fact, we recently concluded negotiations for an IGA with Uzbekistan and Peru. The agreement with Peru is expected to be signed about now. Investors will find it more attractive to invest in Singapore, so as to take advantage of our FTAs and IGAs, and the greater economic integration of ASEAN. These investments will create business opportunities and more jobs for Singaporeans.”
“A framework agreement incorporating an Early Harvest was signed by the leaders in Phnom Penh last year. We can expect to see the first round of commitments implemented as early as 1st January next year, and for the final round of commitments to be implemented by the end of the decade. We are also involved in negotiations for an ASEAN-Japan Comprehensive Economic Partnership. This will complement the bilateral FTA that we already have with Japan. Similarly, ASEAN has embarked on an FTA joint study with India. Finally, with the successful conclusion of the US-Singapore FTA negotiations, the US is pursuing an Enterprise for ASEAN Initiative, which will provide an enhanced framework for US-ASEAN economic engagement. To maximise the advantages of these FTAs, we must achieve greater economic integration in ASEAN. Prime Minister Goh has proposed the concept of an ASEAN Economic Community as an eventual goal. We are now pursuing this idea with other ASEAN members to see how it can be realised. We are laying stepping stones to get us there. One example is the Singapore-Thailand Enhanced Economic Relations framework, which is co-chaired by the Economic Ministers from both countries. Another is the cooperation with Indonesia on Batam and Bintan. Apart from FTAs, we are also expanding the range of investment guarantee agreements (IGAs) with various countries. IGAs will accord greater protection and certainty for investments into and out of Singapore. Currently, we have concluded IGAs with 27 countries, including China, Cambodia, Laos, Vietnam, Germany, France, United Kingdom and some Eastern European countries. Our FTAs also contain commitments over and above IGAs. We also have on-going IGA negotiations with countries such as Romania, Russia, Myanmar and Turkey.”
“Sir, how important is the EU-Singapore FTA to Singapore? BG George Yong-Boon Yeo: It will be very important. The EU makes up a large part of our total economic account. They have vast investments here. We are by far their most important trade and investment partner in Southeast Asia. My own sense talking to EU officials is that they understand the advantages of having such an FTA with Singapore but they are concerned about how they engage ASEAN generally. They are also concerned that they should not send a strong signal to the WTO that it is somehow less interested in the Doha Development Agenda. It is an important initiative for us and we are pursuing it. I believe it will take time but eventually it will come about. FREE TRADE AGREEMENTS 3. Miss Penny Low asked the Minister for Trade and Industry (a) what are the other free trade agreements that Singapore is currently pursuing; (b) whether there are any other major trade or government to government industrial co-operation agreements in the pipeline; and, if so, (c) what are the benefits of these efforts, in real terms, for (i) employees and (ii) investors. BG George Yong-Boon Yeo: Mr Speaker, Sir, Singapore is currently engaged in on-going FTA negotiations with Canada and Mexico. Some time this year, we will start negotiations with New Zealand and Chile for a P3 (Pacific Three) FTA which will enter three corners of the Pacific. In March, we will begin a joint study with South Korea on a Korea-Singapore FTA with a view to launching negotiations after that later this year. In April, we are likely to launch negotiations with India on a Comprehensive Economic Partnership Agreement which will include an FTA. With China, we are engaged in FTA negotiations as a member of ASEAN.”
“It will be useful to note from none other than the man in touch with youth culture, the President of MTV Asia, Mr Frank Brown. He refers to today's young, today's 3G, as the "Dual Passport Generation". He notes that Asia's 3G these days value their individuality and are completely comfortable with modern consumerist experience. He said: 'They can multi-task - watch more TV, do more on the computer and read more magazines - all at the same time. They can be both local and cosmopolitan simultaneously - there is no identity crisis.' Interestingly, he goes further to disagree with Harvard don Robert Putnam's term "blowing alone", referring to the 3G as people who prefer to remain passively disengaged, rather than join any clubs of a grassroots, commercial, industrial, moral or serious nature. Young people today, says Frank Brown, are more active than any previous generation in terms of social communication and community. If Frank Brown's observations are correct, then the proposed changes which we seek to implement, which encourage a diverse broad-based education, and if we can incorporate community spiritedness value system into the system, then I think it will be suitable for the type of people whom we seek to provide this education to. Let us then, as Members of this House and leaders of today, capitalise on this spirit and vibrancy of our youth in designing for our students an education system that will equip them with a blend of academic and non-academic skills coupled with moral values and civic consciousness, thereby making them good leaders and citizens of tomorrow. Only then can we ensure the survival of our country, our nation, our Singapore. On that note, Sir, I support the motion.”
“When people become interested in the events and happenings in the community and society, and where they have made efforts to improve the community they live in, in the long run, we will be able to build a sense of belonging, of rootedness and we will have a population that is not being accused of being bo-chap, which means they do not care. Perhaps we will have citizens who will always care for the community that they live in. This would be the kind of heartstrings that we want to form, that will tie us to our friends, neighbours and the community that we belong to. These will be the stayers who will have a bond with Singapore wherever they may be in this world. For many years, our education system and our society have focused on building economic strings, job strings and asset strings. We must now realise that in this age and time of a highly mobile population, where our citizens possess the language and the passport to the world, it is only the heartstrings that will continue to bond us to Singapore and make us feel like sons and What better place to start than with the education system? Mr Speaker, Sir, the changes recommended will prepare students as leaders, innovators and citizens of tomorrow. For it to work well, all the partners in the education system must come together and work together to provide our students with this total education to help them to attain not just academic excellence but also life-long skills. Obviously, the greatest impact that these changes will have will be on our young and on Singapore's future. As such, I think it would be good for us to know who they are, what they are like and how they think, to gauge the suitability of the proposed changes.”
“This could include the role of community centres, town councils, business organisations, VWOs, and so on, and so forth. Project works can further incorporate hands-on participation where, in such activities, students would be given the experience and exposure to work with these various organisms. This way, they would also learn the skills of communication beyond that of their peers and their school environment. They would have what we call experiential learning built into the school system. (3) They could also learn and suggest solutions to current real-life challenges that are faced by the community. Student task forces can be formed to tackle the common issues on transportation, environmental problems, crime prevention, or even finding ways and means to help the needy within the community. They can then present their findings, either in a written or oral presentation, and such presentations should be looked at seriously and given a certain amount of weightage. In other words, they should not be seen purely as ECA that is not relevant to their overall academic performance. It should, however, not add stress to the system by giving them an examination at the end of it. If we are able to incorporate some of these schemes, I believe that most students will then be able to learn to think out of the box, to think creatively and critically, because when they are doing syllabus and subject matters that are close to their heart where they are living in or in the community that they live in, chances are it would help them to identify with the problems.”
“The education system in the country can also play a role in nation building by inculcating a sense of civic consciousness, ie, a sense of community and rootedness and promote the spirit of active citizenry with an objective of bringing about a gracious society. Schools can play an important role in building a gracious community and promoting active citizenry through active participation and engagement in community activities. Currently, most links between the schools and the community are at best loose and ad hoc. There is more that can be done. We should devise ways, schemes to engage and tap on the energy of students and expose them in a more meaningful fashion through the community. Instead of one-off projects with "term" engagement, we should prolong this "engagement process" which can continuously take place from primary school to university, thereby cultivating a lifelong relationship between the community and the individual. I have some suggestions here: (1) Schools can work with grassroots organisations (GROs) to contribute and improve the neighbourhood or community that they are situated in. The objective is to get the students integrated into the GRO. One possible example would be to link the NPCC or NCC to the CDEC, so that students get real world experience in their weekly drills and simultaneously learn more about the community that they live in or serve. This process of engagement between community could be built into the school's curriculum on "Life Skills". (2) They could link project works directly to community - research work. For example, students can be asked to research on how the community operates, ie, the functions, the impact and the importance of each organism in the community eco-system.”
“People with good values and ethics, people with integrity. As part of the total education, our education system should be broad-based enough to encompass these teachings. The report, I feel, does not sufficiently address how it will focus on such teachings or even include this value system consideration into the system. As the ERC, not the Economic Restructuring Committee, but the Education Review Committee, gathered insights from top schools in the UK, US, Hong Kong and China, it would also be useful to note that, in Thailand, a ministerial committee is developing a system to record the "goodness" of high school students. Colleges and universities country-wide will take the goodness records into account when deciding whom to admit. They have realised that to admit students with high morals would also be one way of eradicating corruption in the country. Although we do not face serious corruption problems in our country, this system nonetheless encourages students to be good and maintain moral integrity. I am not suggesting that we adopt exactly the same system. I am saying that these are important components. We, in a multi-racial Singapore, have shared and common values and if we can inculcate some of these values into the education system, we can then benefit our society at large. Education on our shared values can also do greater good in highlighting common traits amongst us, although being people of diverse cultures and religions, to come together as one people, one nation and one Singapore caring for each other, crossing all boundaries. This I feel should be part of the total education in which we impart to our students.”
“As aptly put by a John Naisbitt, "We are drowning in information but starved for knowledge". Equally important, a teacher should be able to groom, inspire and spot talent and further help develop and guide these talented students to maximise their potential. It has been said that it is harder to teach old dogs new tricks. So while the students may adapt faster to the changes, the teachers may find it difficult to acquire some new teaching techniques and habits, let alone exercise them. Hence, I would like MOE to comment on what measures are in the pipeline to help teachers plug into this new system and whether MOE would consider the 'external consultant' approach to jump start the shift in thinking and habits. Next, I would like to move my focus to an area which is somewhat less talked about, that is, of a value system. Education which stops short at economics and efficiency may prove to be the greatest menace of society. In the words of Martin Luther King Junior, "the most dangerous criminal may be the men gifted with reason but with no morals". Let us learn some lessons from the United States. The recent scandals in the corporate America are lessons in which our education system can draw upon. As highly intelligent men conspire to cheat, there can be severe repercussions on the whole capitalist system in which the global economy operates. We saw how Arthur Anderson, Enron, WorldCom, amongst the others, fell from grace globally within a few months, wiping some US$5 trillion in market value. This cost is equivalent to an average of US$60,000, or S$106,200, in losses. These huge losses are caused only by a handful of people. Hence, apart from good institutions and laws in our country, we need most of all good people.”
“The focus should then be on whether the proposed changes retard or improve an individual's potential to be the best that he/she can be. My sense is, on paper, the proposed changes will improve the current system, provided more flexibility is exercised in the implementation. The devil, I am afraid, may lie in the implementation. At the crux would be whether we are ready for these changes. To quote William Shakespeare, "All things are ready, if our minds be so." The proposed changes are significant and constitute a paradigm shift in the established education system. However, for any change to take place, there must be a certain amount of belief in the changes and a momentum that is built up. The speed of change is directly correlated to the momentum of change. Corollary, the better convinced and prepared the various players in this equation are, and that will include the principals, teachers, MOE personnel, parents, students and the society at large, then the faster and higher the chances of success would be. As such, I would like the Minister to comment on the current state of readiness of these various players, especially the principals, teachers, and even MOE personnel and also whether the parents and students have been told about the changes and explained to them. Teacher readiness is pivotal to the success of the proposed changes. In the new economy, the teachers' role has shifted from that of a content provider to that of a facilitator. Today, with easy access to the Internet and other media, there is information overload even at the school level. Therefore, a teacher plays a vital role in helping students direct and manage the content available on the Internet and other media.”
“If it is good, why not engineer it into the mainstream education? Why stop at the top 10% for the Integrated Programme Schools which may also benefit the not so examination-savvy type? Does this imply that the proposed changes will only benefit those who qualify for JC, ie, 25% of each cohort, and the 10% that qualify for the Integrated Programme Schools? If so, then there is really no significant overhaul in the curricula for the majority of students undergoing secondary education. In other words, despite all the good intentions of the changes, the majority of each cohort will still be 'stuck' in the current education system which may not prepare them sufficiently for the new challenges ahead. It will be difficult to battle new grounds with old weapons. I hope MOE would perhaps run that 10% as a pilot scheme with the intention of incorporating the Integrated Programme School system into the mainstream structure, if found to be suitable. I also hope that, for a start, the schools elected in the IP School system would comprise a good mix of schools from both the elites and the neighbourhood schools. I think the demonstration effect of such a scheme would be far reaching. Since many of my colleagues in this House have spoken extensively on the possible social effects of the proposed changes, especially on the topic of adding more stress into the current system and even possible elitism, I shall refrain from repeating the arguments here. I will, however, add that any attempt at creating a level playing field or creating a totally egalitarian society may be an uphill task, as each individual is differently gifted. Hence, a good education system must aim to bring out the best in the individual, and allow room for them to blossom according to their gifts.”
“Mr Speaker, Sir, thank you for allowing me to join in this debate. The recommendations of the Education Review Committee attempt to prepare our students to face the challenges in the changing global economy. The global economy today is heavily driven by technology and innovation - which has revolutionised the way we learn, the way we live and the way we think. These innovations will continue to change our lifestyles as well as life's demands. The future ahead is both uncertain, and yet filled with opportunities. Therefore, education must, in short, prepare our young to face the future. In fact, it should aim to give our future generation a competitive edge in the increasingly integrated world. This is possible with not just economic relevance or consciousness, but also the virtue of a good value system and community spiritedness built into the programme. Education must help students to become more efficient and effective, be able to think creatively and critically, so that when they are given a series of choices, they can make critical decisions and make the choices, and equip our younger generation with lifelong skills. As demands on specific skills and job types change at unprecedented rates, it will no longer be sufficient to train our youths in specific skill sets that are narrowly defined. As such, I am heartened to know that the proposed changes aim at a broad-based education which includes the introduction of subjects like Knowledge and Inquiry skills. I am also heartened to know that a more diverse landscape with at least three new routes will be introduced. I am, however, not so heartened to learn that the three new routes as well as the Knowledge and Inquiry skills will only be made available to the regular group of creme de la creme.”
“Sir, insurance is based on the pooling of risks. So we need a minimum number. What is that minimum number to make the scheme viable? That is my first question. My second question is: given that about 400,000 people opted out, will there be a risk of anti-selection? If that is the case and, in future, if the claims experience do stress on the system itself, will that lead to a revision of the premiums? Is there any guarantee of premium status quo?”
“In view of the introduction of this framed, laminated glass, is it possible to replace those glasses in the 30,000 units that have been mentioned earlier on with this framed, laminated glass instead of the usual tempered shower glass? The other question is I read in the Straits Times yesterday that they had some tests for this kind of glass. I think it is a kind of stress test. Does HDB also conduct stress tests on some of these products? Because it appears that some contractors, to reduce costs, actually import sub-standard products and some of these products may get into the HDB flats. Assoc. Prof. Koo Tsai Kee: Shattered glass screens henceforth will now be replaced with heat-soaked tempered glass. We soak the plates in the water for a few days and those containing even minute traces of impurities will crack. We will then know it is defective. But it does not eliminate completely the presence of nickel and sulphur altogether. In other words, the possibility of cracking will be reduced. That is the test she is talking about. That is the test that she read in yesterday's papers - the heat soaked test.”
“Sir, may I know what is the warranty period for these shower screens in HDB flats? If the residents prefer not to install tempered glass shower screens but prefer plastic or any other type of material because they have senior citizens or children at home, is that also permissible? Will HDB replace them, also at no cost? Assoc. Prof. Koo Tsai Kee: If the glass shatters within the defects liability period, ie, one year after taking possession, we will replace them with no questions asked. If it happens after the one-year period, please let us know and we will see what we can do. So far, all the shattered glass screens have been replaced at no cost. The second question was that if the lessees want a different kind of replacement, eg, a plastic door, yes, we are accommodating. But sometimes there is a cost differential. So, if it is cheaper than a glass door, of course, no charge - FOC. If it is more expensive, then it is reasonable for the lessee to top up the difference.”
“In fact, there is no compelling reason for them to do so, but they did. The refrain from these corporations was that Singapore is their own. This is the place where they have sunk their roots and this is the place where they would like their children to grow up in. They are here because their hearts are with Singapore. However, they also expressed that if the issues that were brought up by the EISC Committee are not properly addressed, then in the long term, there may not be a lot of stayers purely because it is no longer economically viable to stay in Singapore. Once they start to venture abroad, make their stake abroad, what may happen is in the process, they will start to lose touch with Singapore. And the heart stops where survival is choked. So when they leave Singapore for economic gains, they asked not to be blamed. Quitting is not a sudden decision, but it is a process that may lead to that decision. In the light of these views, I support the Motion. ADJOURNMENT OF DEBATE Resolved, That the debate be now adjourned. [Dr Lee Boon Yang].”
“Can IE Singapore then act as a facilitator for our SMEs in linking up with our embassies, trade missions or even trade stations abroad, to serve as a launch pad for our SMEs' foray into the foreign market? Our embassies and trade missions are well placed to give an insight, at least, into the culture and local knowledge in these foreign lands. Just like foreign companies coming into Singapore can obtain one-stop information and help from EDB, could IE Singapore or any other Government agencies provide appropriate information and database to facilitate some of these overseas ventures? This would serve our SMEs in good stead, giving them a competitive edge with reliable support and good grade information. If the GLCs have to compete with the private sector, let it then be the objective of bringing up the standards of our private sector. If there is a need for the GLCs to compete, let it then be out of a need and not greed. If there is a need for GLCs to compete, then let it be from without and not within. Mdm Deputy Speaker, I would like to conclude by referring to the latest debate on stayers and quitters. I have had opportunities to speak with many of our corporate citizens who are actually SMEs. These are corporations that have grown over the years. I have sought their permission to quote them. Some of them I am referring to are System Access Ltd, Technology and Apex Systems Pte Ltd and this company called Lindeteves Jacobsberg Ltd, which is one company that specialises in electronic motors, and they are the third largest supplier to Europe. For these companies that I have quoted, they derive the majority of their revenue, in some cases, 100% of their revenue outside that of Singapore. However, they are maintaining an office in Singapore.”
“I submit to this House, Mdm Deputy Speaker, that unless we consciously and continually seek this equilibrium or this optimum point, we will eventually lose our private sector's creativity and competitiveness. It would be worse if the private sector allows their perceptions, whether rightly or wrongly, to fester and lead to a culture of cynicism. It may lead to an outward movement of not just capital, but also people. May I suggest that we do not let the GLCs take the wind out of the sails of the SMEs, but to help them build and direct the sails to catch the wind instead. Perhaps the GLCs can take some of our SMEs under their wings and start a mentorship programme. Impart their experiences and know-how to the private sector and provide a springboard for our private sector to leapfrog the learning curve. The question, of course, is if both are for profit organisations, then what is in it for me? Why should the GLCs do so? I think besides being a good corporate citizen, GLCs can also profit by taking a minority stake in these companies. In turn, the stake money will enhance the capital base for the SMEs. When the SMEs are successful, they will then in turn give a return to the stake money of the GLCs. This process can also be vice versa where the SMEs could take a minority stake in the GLCs. It could be a win-win strategy. I also support Mr Wee Siew Kim's call for a bridge to be built between the GLCs and the SMEs, perhaps a forum as well and even his call for a business SDU. And I suppose, even if the business SDU can bring together some marriage of convenience, it would have served its role. Another often heard feedback from the SMEs is the lack of support when venturing overseas.”
“In fact, as Mr Inderjit Singh had also said, we need to leverage on each other's strength, in order to grow. The SMEs, given their business instincts and acumen, can sniff out the business opportunities while the GLCs can also support with their know-how and process expertise. The GLCs, with their good brand name, can also pull the SMEs along while establishing a beach-head on foreign soil. Madam, I urge that the Government also urgently facilitate outlets for these monstrous fishes and guide them towards the open sea. The movement of these monstrous fishes would stir the seabed, throwing up planktons and living organisms to feed the smaller fishes. In time, these smaller fishes will be able to grow, be able to fend for themselves and even establish their own pedigree, their own brand. I do not support the exodus of GLCs, but that GLCs should stick to their original reason for existence, and divest the non-core businesses at a reasonable price over a reasonable period of time. May I also add that any drastic movement may also upset the ecosystem in question. I also agree with Mrs Lim Hwee Hua's point that we should focus on the GNP and not just the GDP. I am, however, also mindful that part of the GNP must also originate from the domestic sector. Hence, there is a need to find a place for our private sector, the SMEs and the MNCs, on the continuum between the maximum position of crowding out the private sector and the minimum position of non-interference. A place between the two where we can find the optimum. In a world of rapid changes, this continuum is dynamic, and so is the optimum point. Only when we look at the reason for existence can we then find the optimum point between the two extreme points.”
“Perhaps, to be fair to the GLCs, such companies were created so that the GLCs can have better control and it could be part of the risk management strategy. But this is also precisely where the problem lies. If we want to cultivate entrepreneurship, then this mindset must change, both on the SME side and GLC side. Some things are indeed much better left to the private sector. And we need to have more faith in the market forces. Foster Culture of Partnership Beyond SMEs, beyond GLCs, we as a nation in challenging times must come to sell all enterprises as valuable to our economic aspirations. We need to see a vibrant culture of cooperation and partnership between GLCs and SMEs. They both can and must play their role in the remaking of our economic thrust and should receive equal facilitation and support from the Government. To continue on my imagery analogy of the fish and water, I would like to see the Government, and perhaps even Temasek Holdings, provide the lead to ease the congestion in this small pond, by digging a trench that would provide alternatives to the contents of this small pond into the open sea of the global economy. Once the monstrous fishes in this small pond enter the open sea, they may no longer be that big. This is where the GLCs and SMEs can come together, support each other and assert themselves in the new environment. I urge the Government to adopt the recommendation of the EISC to "encourage a culture of partnership between GLCs, MNCs and SMEs and adopt a cluster approach when venturing overseas; and raise the profile of the Local Industry Upgrading Programme (LIUP) and expanding it to promote internationalisation." We need a paradigm shift, we need to promote partnership as a multiplier, and not a zero sum game.”
“The ecological system is out of balance. Scepticism and Distrust: Playing Field Madam, the private sector reckons the GLCs to be the fishes that have multiplied and grown to a monstrous size in a small pond. Willy-nilly, there appears to be a two-way scepticism and distrust between the big fish (GLCs) and the small fish (SMEs). In fact, some SMEs avoid contact with the GLCs whenever there is a business opportunity for fear that the GLCs may muscle them out of the business. This may well be true as GLCs function as a profit organisation, and have often demonstrated that new entities can be created whenever they want to take advantage of an opportunity. Without the necessary financial muscles and network, the SME simply cannot replicate companies with the same speed or size that GLCs can. To illustrate, we have a GLC that prepares, manufactures and distributes food, ranging from chilled meat, ready-to-go meals and even right up to hog auction and abattoir. The original raison d'etre of this GLC was one of strategic defence. But how does the slaughtering of hogs contribute to the defence of Singapore? GLCs are also found in other non-strategic industries, for example, Internet Service Provider, travel agency, supermarket, real estate development and management, IT and business consultancy, systems integration, outsourcing networking, e-commerce, and so on and so forth. Even more recently, HDB, via its subsidiary firm, HDBay, is also getting into the Local Area Network business! In fact, if we include the NLCs, which is a term coined by Mr Leong Horn Kee, they provide goods and services from cradle to grave. Can we really blame the SMEs for keeping a distance from the GLCs?”
“Mdm Deputy Speaker, thank you for allowing me to join in this debate. The raison d'etre of GLCs and Temasek has been well documented. The reasons for the GLCs' existence was when the SMEs were not able to access capital on their own, or there were insufficient entrepreneurs that had the capacity to risk large quantum of capital. Singapore then needed the GLCs to build up the strategic industries to put Singapore on firm economic, social and even political pedestals. It was for the sole reason of survival, and the GLCs have done a good job. In fact, they were so good at what they do that, over the years, the GLCs have grown to cover a multitude of business enterprises - many of which are perceptibly to be in direct competition with the private sector. After 37 years of independence and rapid economic growth, our private sector is also a lot more mature and capable. Coupled with the challenges of the new economy in the global playing field, we need to re-examine our modus operandi, and make relevant the roles of both the GLCs and the SMEs, so that we, as a nation, can strive and thrive. Interestingly, I also have an analogy which is based on the ecosystem. Since we are an island, please allow me to use the analogy of fish and water. The GLCs are like fishes that were originally introduced to a pond to promote life, to promote growth. Over time, it keeps spawning and while the pond can still maintain an ecological balance for coexistence, it remains placid. However, when the spawned fishes begin to grow and become overwhelming, the ecological balance within the pond is disturbed. It has now reached the point where the pond has become too small for this growing ecosystem. In order to survive, the big will eat the small fishes and even compete with its own kind to survive.”
“Sir, how would MAS then regulate and monitor the policy of what is considered an "inducement"? Mr Lee Hsien Loong: Mr Speaker, Sir, it is one of those questions which is impossible to answer in the abstract. We know it when we see it. ARREST OF JEMAAH ISLAMIYAH MEMBERS (Update) 4. Ms Irene Ng Phek Hoong asked the Minister for Home Affairs (a) if he will provide an update on the progress in arresting active Jemaah Islamiyah members who fled Singapore following the arrest of 15 of their members in December; (b) whether those who have escaped to Indonesia will be arrested; and (c) whether the foreign suicide bombers whom "Sammy" planned to bring to Singapore have been identified.”
“However, to put the payment and the burden of the payment at the back end itself does sound and remind me of the balloon car loan scheme where the cash upfront is minimal but the back end or the later part of the loan will eventually catch up with the debtor in due course, especially if one has not made wise calculations of his ability to pay, or has miscalculated and thought that he is going to be selling the property in 10 years, or has not properly invested the money saved upfront for later repayment. This is made worse when there is asset devaluation, or when loan interest rate catches up. One may then be forced to repay the loan in cash sooner than the original calculation. Last, but not least, the relaxation of the 20% cash downpayment on housing loan. There has been much talk about over investment in the property market and how CPF was used to fuel all these bubbles, and talks about how escalating land cost has made Singapore uncompetitive. This liberalisation of 10% downpayment in cash and 10% downpayment in CPF sends a mixed signal to the market and the people. Is there a need to cushion the impact of the changes on the property market? Already there is a suspension of the 16th May 1996 anti-speculation capital gains tax on property. Who are we helping in this exercise of lowering the 20% downpayment in cash? I hope the Government will seriously reconsider this proposed change. Last, but not least, I would like to register that the CPF changes, on the whole, will benefit Singapore in the long term. I hope that the Government would better communicate with the public, and also look after those people who are directly affected, especially in the short and medium term. Sir, I support the recommendations.”
“As such, many people, especially those who are suffering from financial hardship now, may be tempted to switch to a lower monthly instalment payment. However, in the larger scheme of things, as many of my parliamentary colleagues have spoken, banks are driven by commercial motives and do not have a social obligation to mortgagors. The HDB versus private banks' treatment of default cases is vastly different. HDB has frequently exercised compassion and put in place many schemes to help hardship cases, for example, the reduced or delayed repayment system, re-calibration of loans, no penalty interest-only repayment, so on and so forth. My fear is genuine hardship cases may not enjoy the same privileges as those under HDB loans and be forced out of their homes more easily. Although some may say this policy may affect only a minority, the question is: should people unwittingly fall into this negative financial situation and banks force sell their HDB flats, is there any measure put in place to help provide a roof over their heads? Given the nucleus family criterion that HDB imposes, many of them will need a roof over an entire family's head to ensure that the grandparents are not left on the streets, children can continue schooling and the adults can also focus their energy and effort at correcting their financial situation, so as to prevent it from spreading to become a family and a social problem. In addition, if we move HDB loans into the free market, are we also ready to liberalise some of the current HDB restrictions and move the guidelines closer to the free market? Next, the loan restriction from 150% to 120%. I echo Minister Lim Boon Heng's point on this scheme sounding a little bit like the balloon scheme. I think it is a very good move to restrict loan quantum.”
“Perhaps over the years, we, as a nation and as individuals, have acquired income and wealth at an accelerated pace, and we have not paid much attention to financial education to help us better manage our hard-earned resources. Sir, man has two legs, but the creature called "money" has four legs, two wings and perhaps, in the IT age, a super-jet as well. Hence, unless we learn to better manage our resources, we will always be giving endless chase to money and the increasing cost of living. For some, they will always be in the phenomenon called "Money No Enough". Similarly, for Singaporeans who are affected by the lowering of the CPF contribution at age 50-55 and those whose mortgage loan repayment quantum may be affected by the proposed changes, they may not even get over the transition phase that DPM Lee spoke about yesterday - unless conscious efforts are there to help them make wise adjustments in financial decisions, some may be permanently stuck. Hence, we must go beyond empowerment of the individuals to enable the people to make choices/decisions whose consequence or desired outcome is congruent with the action they are about to take. I would like to advocate that the Government put in place a comprehensive system to help educate Singaporeans on financial decisions, and this should not be mere financial calculations alone, but also take into account individual's financial goals and objectives. Sir, I am advocating that the 3 Es - empowerment, enhancement and enablement - be tackled holistically. Fourth, the move from HDB origination market rate loans to bank origination market rate loans. For those who move to bank loans currently, they may enjoy a lower interest rate.”
“c) what is their consumption pattern like; and d) what is the average age of their children - are their children financially independent or are they of school or university-going age where financial resources are most needed? Only when we can better understand the demands and profile of these affected cohorts of people, can we then design help that is relevant and helpful and effective to them. Hence, since the intended beneficiaries are our fellow Singaporeans, let us hear them, see them and better understand their needs from a human angle, and not just mere statistics on a Government chart. 3 Es - Empower, Enhance and Enable Third, I think there is also a need not just to empower the people but to enable and enhance the individuals' ability to look after themselves, at least financially. I am in full agreement with the spirit of empowering the people and moving the decision-making process to individuals. With the proposed lowering of the income ceiling from $6,000 to $5,000 for CPF contribution and the raising of the income floor for CPF contributions from between $200-$363 to between $500-$750, there will be an increase in the disposable income of the people, as we put more cash in the hands of the individuals. This is a good move, only IF we can safely assume that people are generally financially savvy. Sir, I would like to declare my interest here. As a financial consultant who has seen clients directly as well as trained hundreds of financial advisers, I find the financial literacy rate in Singapore to be rather low, despite our high income.”
“Like a good father who does what is right for his children, our Government must do more to communicate and achieve a greater buy-in from the people. United, we stand. Second, Sir, who are the intended beneficiaries of the proposed changes? Ultimately, I believe it must be the people - our Singaporeans. But, no one policy would satisfy all. Hence, it is believed that with these changes, the economy will become more competitive and our people will benefit in the long term. However, to quote the famous economist, John Maynard Keynes, "In the long term, we are all dead." Hence, while we make changes for long-term benefit, we must also urge our Government to intervene to provide short-term and medium-term reliefs and stimulus. To this end, our Government has done so in the economic arena. However, our economy is built on our people and, therefore, we should also then turn our attention to the people, and focus on the group of people who are most immediately affected by these proposed changes. These people would include: a) the 50-55 years old or, in fact, when the policy kicks in in about three years' time, the 48-51 years old today; b) the group of people who are also affected by the lowering of the income ceiling for CPF contribution; and, of course c) the group of people who are hit by this double whammy. I would like to ask: who are these people? Has there been a detailed profiling of these people who would be affected by these changes? Can we commission a study to enable a better understanding of their needs, and how to help them? Some quick areas of concern would be: a) what is their average income? b) what is their average loan repayment per month - whether it is mortgage or car loans?”
“Mr Speaker, Sir, thank you for allowing me to join in this debate. I have a few points to highlight. First, there is a need to better communicate the intentions and the objectives of the policy shifts that are being proposed. Sir, the proposed CPF and HDB loan changes have far-reaching consequences. It signals a fundamental shift in the way individuals base their decisions as well as how institutions, especially the financial institutions, have to adjust to the new rules of the game, ie, be it tapping into the CPF market or HDB loan market. To this end, we have heard that the vested parties, meaning the banks and the fund managers, have been actively exploring and re-modelling their business plans in order to maximise their gains and minimise their losses in the sea of change. But, what about the individuals? Many individuals I spoke to appear to be quite nonchalant about some of the proposed changes. Except issues with immediate or obvious impact, many people paid little attention to the rest of the proposed changes either because they did not understand or feel the impact, or were not aware of the issues at hand. As such, I would like to urge the Government and the relevant authority to consider mounting an "inform and educate" campaign to better inform Singaporeans of: a) the intentions or the rationale behind the proposed changes, so as to achieve a greater buy-in; b) the changes and their related consequences, whether they are immediate or long-term; and, c) what are some of the coping mechanisms available. The changes proposed may have genuinely good intentions. However, given the current public mood, which is somewhat sceptical and negative, any good intentions may be wrongfully misinterpreted and suffer dire consequences.”
“Sir, I was delighted to hear during one of the briefings for the GPC for MITA, that they have an Arts Everywhere programme. I was delighted because the Arts Everywhere programme means that it will enable everyone to appreciate and to partake in the process of enjoying the arts itself. However, I would like to also ask whether it is just arts everywhere, or is it arts everywhere, arts everyone and arts every time as well. Sir, to inculcate a nation that breathes and lives art, the art and heritage initiatives have to permeate every strata of the society, making its presence felt everywhere, lives in everyone and present every time. To quote Prime Minister Goh in his National Day Rally speech last year, he said: 'In new Singapore, there will be abundant opportunities for Singaporeans and global talent to work and do well. New Singapore will be one of the world's finest most livable cities. Arts, theatres, museum, music and sports will flourish.' To quote him again: 'Our city will not only have that, but also the richness of diversity. But above all, Singapore will be a home for Singaporeans.' As such, I would like to ask MITA if they would consider extending their Arts Everywhere programme on a faster scale, as well as beyond a few centralised locations, beyond that of arts that is appreciated only by the elite, and expand beyond just a few major events like the Arts Festival or the Womad. What initiatives are there to bring arts and culture to the heartlands, and what funds are available for community-in-partnership programmes? I hope there will be more initiatives and at a quick pace that could be generated within the next year.”
“I would like to add that we should bear in mind that arts and culture, or the germination of a cultural capital itself takes time to come to fruition. And, as such, the measurement used to determine the ROI from such investments should be different from that of mere statistics alone. 2.30 pm”
“With the diversity of race, language, religion and a highly cosmopolitan city, we are in a good position to tap on our cultural capital to give us an edge in the competitive world. A few examples are the Banyan Tree, and Creative Technology who has recently created the ProdiKey. These are all very good examples of combining arts with music and culture into traditional and technological platforms. As such, my questions are: (1) What are some of the programmes that we have put in place to tap on our cultural capital so as to bring this diversity into our technology, and into our products? (2) Is this funding sufficient as proportionate to the value that it can bring to our economy? (3) Is this funding sufficient as proportionate to the role that it plays in making Singapore a vibrant cosmopolitan, as well as it being a social glue? If I could coin the 5Cs in cultural capital, the 5Cs would stand for: (a) Creativity - which is the power to invent and innovate; (b) Connectivity - which is the power to connect people on a heart and soul level; (c) Capability - which is helping all our artists, our other talents to come in and contribute to our economy; (d) Competitiveness - because it makes an ordinary product extraordinary, it makes it unique and gives us the competitive edge; and (e) Community - because it brings together groups of people with different talents to communicate with each other to create new things from this collaboration. Last, but not least, I would also ask, as some of my colleagues have asked, what are some of the yardsticks that would be used to measure the success of germinating this cultural capital, both from the economic and social perspectives.”
“Sir, I was a little disappointed to note that the budget allocation to MITA stood still at 1.5% for Financial Year 2002. It is a moderate increase of $20.94 million to $425.53 million, in absolute terms, but nevertheless, I was hoping to see more. Many may ask, in such time when many face unemployment and economic hardship, is there room for arts and culture? The answer is a resounding "Yes." Perhaps, more so now, because it is in critical times like this that we need to delve deeper into ourselves and bring out the intrinsic value of our rich cultural capital from within, so as to achieve a breakthrough. Let me illustrate my point with an example. Sir, how much is a watch worth? It can be $10, $100 or tens of thousands, depending on who created it, which artist has his hands on it, and which musician puts a tune in it. In the 1980s, when the famous Swiss watch-making industry was facing laggard sales and serious threats from high-tech, lower-cost Japanese products, a man called Mr Nicholas G Hyak took an ordinary mass-produced watch and got a few artists to exhibit their works on it. He said, "We have to give Swatch a warm heart and soul so that people would love it." As such, within a short span of five years, Swatch, a plastic watch company, became the largest watch making company in the world. Capitalising on cultural diversity of a nation brings a breath of fresh air into the watch economy, and put a piece of Switzerland onto many people's wrist. In fact, it has got a back-end added value of promoting tourism in Switzerland as well. Singapore can do the same too. In fact, Singapore has a very rich cultural capital.”
“Sir, I thank Senior Minister of State Khaw for assuring the residents of Sengkang Town of the efforts that his Ministry has put in. I also want to thank him for agreeing to look into the developments of the Punggol 21 Transport System, and I would be most delighted to take him on a personal tour of Punggol 21, if he so wishes. With that, I beg leave to withdraw my amendment. Amendment, by leave, withdrawn. The sum of $410,843,100 for Head W ordered to stand part of the Main Estimates. The sum of $1,232,635,200 for Head W ordered to stand part of the Development Estimates. Head S -”
“The bad news is, it is surrounded by vacant land at the west side of Punggol Road, while the population centre is located on the east side of Punggol Road. To make things worse, the other two long distance service routes that ply along Punggol have frequently rejected the residents' call to turn into the growing Punggol 21 estate because they have engineered the roads to go and serve the future population around Punggol MRT station. I hope that the Ministry would look into hastening the development of the LRT in Punggol 21. I have confidence that with the new testings and the measures that have been put in place, this LRT will be different. Of course, it is left to be seen. In addition, I would also hope that there will be an increase in the number of exit routes from Punggol 21 and an overall improvement in the transport system in Punggol 21. Sir, my residents are eagerly awaiting the new facilities.”
“In fact, the very same old Punggol Road remains the only link that Punggol 21 residents have to the rest of Singapore. I would like to show a photograph here that was given to me by a resident of mine. He claims that he would need at least half an hour just to move a few hundred metres to get out of Punggol Road into Tampines Expressway. I quote him, "The situation is getting worse over the months as more Punggol residents are moving into their new homes. It is beyond my understanding how a major town like Punggol can have only one road out to the rest of Singapore." In addition, he said, "Imagine what would happen if a major traffic accident closes Punggol Road. Tens of thousands of Punggol residents would not be able to leave or return to their beloved home." In my constituency, Punggol North, while about 5,000 of my Sengkang households would enjoy the convenience of the LRT at the end of this year, my 6,365 Punggol 21 residents and two schools in Punggol 21 will have to make do with only one trunk service, which is Service No. 83. Meanwhile, as the LRT is being built, dual carriageways are converted to single lanes, and public transport operators like SBS Transit, have claimed that both the LRT and HDB developments in Punggol 21 have caused some of the roads to become unusable. As such, they too have been reluctant to bring in more service routes to serve the population heartland of Punggol 21. Sir, this is a growing problem as Punggol 21 is a fast-growing town. In addition, I have one good news and one bad news. The good news is, together with the North-East line, Punggol MRT station will be ready by the end of this year.”
“Sir, I beg to move, That the sum to be allocated for Head W of the Development Estimates be reduced by $10 in respect of Code WH 5200. Sir, the efforts by the Ministry to solve some of the transport woes of Sengkang Town have been most impressive. While this time last year, there was only one road, the very famous Punggol Road that connects Sengkang Town residents to the rest of Singapore, there are now two additional roads and a total of five exits from Sengkang Town. In fact, by the end of this year, the LRT and MRT would be ready and my residents would enjoy the option of a sky route out of Sengkang Town. However, as Assoc. Prof. Low has expressed earlier on, the experiences of LRT riders have been less than heavenly. The much publicised breakdowns and accidents have caused much worry among my residents and I am pleased to say that I am very happy with Senior Minister of State, Mr Khaw Boon Wan's reply on that. I would like to ask if there are any specific measures that are taken to ensure the safety and the smooth functioning of the LRT in Sengkang in particular. In addition, I also urge that the rationalisation of the public transport system, especially since the operator this time round is SBS Transit, be slower to implement their plans, to rationalise the entire system, to reduce the feeder service and trunk service. Perhaps, it could be put on hold until there is some certainty that the LRT is indeed reliable. Sir, while the development in the Sengkang Town has been impressive, the same cannot be said of the road and transport development across the Tampines Expressway (TPE). Here, I refer to Punggol 21. While Punggol 21 has been heralded as a model town, residents there have been battling long jams in a less than good public transport system.”
“When we walk into a mall, we can almost tell with one eye closed what shops would come one after another, be it G2000, Delifrance, Robinsons, McDonald's, and so on. Perhaps our neighbourhood centres can be encouraged to adopt a special shopping theme. This would not only help bring life and a breath of fresh air into the neighbourhood centres, but also alter the shopping and tourist landscape in Singapore. Could the Minister consider the suggestion?”
“Sir, in our quest to focus on the top of the economic value chain, what measures are in place to encourage the SMEs to move up the value chain and reap from our new economic strategies? Not all SMEs can move up. What help schemes and measures are available to ensure that those who cannot or are simply not in the right industry can exit without being discouraged from getting into business again? To improve the transparency and accessibility of information, I would like to repeat my call during the Budget debate. Could the Ministry consider the setting up of a central database according to industries? Some of these databases could include the database of business opportunities, business procedures and business networks. Given that knowledge and speed are the essence of doing business in the IT age, this information database would greatly help these SMEs. There is yet another group of SMEs who are currently facing very difficult times. This is the HDB heartland shopowners. With the advent of mega town centres and hyper-marts, many of our friendly neighbourhood ket ai or provision shop uncles and aunties are now faced with a double whammy of rising costs and falling businesses. Even worse are those who have purchased their shops at no discount and currently shouldering heavy mortgages. For decades, many of these shopowners have faithfully served the community in more than just the business way. Could our Government show some compassion and help them stay relevant to the new economy or, as I have argued earlier on, help them to exit gracefully rather than face eviction or bankruptcy? In relation to the above, today, shopping in Singapore is no longer interesting. In fact, there is very little distinction between one mall and another.”
“Singapore has been criticised as lacking in EQ and CQ, which is cultural quotient. I understand that on some trade mission teams, sociologists and anthropologists are included to achieve a holistic approach. I would like to ask if our Ministry is ready to incorporate these social scientists as an integral part of our trade and business teams.”
“Ten years ago, setting up a business in the major cities in China would cost a fraction of the current cost. However, today, the Economist Intelligence Unit (EIU) has estimated US$60 billion per year investments pouring into China, and that constitutes about 70% of all the FDIs to Asia. Certainly, the expected yield in such places must have been perceived to be very high, despite the rising cost. While we do not have the hinterland or domestic market size of our larger neighbours, we have a more transparent and predictable business regime, plus high quality human capital. How can we leverage on these aspects of our competitive advantage to improve the yield, the risk reward ratio for the global FDIs and talents? In fact, how can we improve the balance sheets for both the company and the individual? Last but not least, what is our role in the region? The Government should be praised for stretching our tentacles to put in place a series of FTAs with partners across the globe. Nearer home, however, we must do more to improve our relationship with our immediate neighbours. To many FDIs, we are still part of a bigger region and hence, in considering their business location, they will also consider our strategic position in our neighbourhood. They want to know if we are the gateway to any market, what is our role and our relationship with our neighbours in the region. What strategies do we have to achieve this? Are we open to new ways of doing business? It is often said that the new business environment requires not just IQ but EQ and CQ. The Chairman: Miss Low, you have 30 seconds left.”