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.”
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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 9 of 16.
“Sir, I have spoken many times on the topic of social enterprise within this debate and so this cut is really to fill in the blanks. May I start first by congratulating the MCYS for its foresight and very enlightened view on social enterprise. In fact, the Social Enterprise Fund was started one or two years ago and which will be, I think, put under the ComCare Enterprise Fund, going forward. However, the concept of social enterprise is new and often not very well understood. Much of the funds that were given earlier went quite generously, I must say, to organisations that did not really have a real business model. In some cases, it was so stringent that it also ruled out businesses that were for-profit. In other words, regardless of whether they have a social mission or not, as long as they had a profit motive, it was rejected. I would like to ask the Minister if he could relook at these criteria and include businesses, whether it is for-profit or not-for-profit but, so long as they carry a social mission, to be given some form of help. In addition, perhaps we should also judge the social enterprise applicant based on how serious is their enterprise model, in other words, the business model and, of course, the return on investment (ROI) itself could be measured in terms of market-related or equity-related ROI, as well as the ROI on our social capital. After all, I think it was the late management guru, Mr Peter Drucker, who defines "social entrepreneurs" as "people who raise the performance capacity of society".”
“Sir, since the start of the IR debate, the final selection criteria and operating framework of IR has gone through quite some changes. With these revisions, what is the expected benefits to our economy, in terms of (a) employment; (b) GDP boost; and (c) long-term economic strategy. It surprises me that while the social consequences of IR are long-term challenges, the selection criteria of IR weigh in favour of upfront considerations, like design and tourism appeal. Given the price that society has to pay, perhaps the winning IR should be one that gives the most strategic value add to Singapore's long-term economic interest, and not one that gives the most one-off tourist appeal, one-off project funds or be the most aesthetically appealing proposal. If tourism is indeed our long-term strategic interest, then the criteria should go further to ask what brings repeat visitors. We want regular spenders to fuel our economy, and not just one-off curious onlookers. In addition, given a global shortage of gaming professionals, what is our strategy in attracting them to Singapore?”
“I see the for-profit social enterprise as a main business table agenda item, and not a CSR after-thought. It is a potential new engine of growth. Growing this sector possibly with favourable fiscal measures and Government incentives, like funding from SPRING, subsidised land rent, or even a special business zone, as mentioned by Dr Wang Kai Yuen, and even staff secondment from public agencies will help social needs as well as contribute to GDP. I urge that MTI take an enlightened view on the for-profit organisations and help kick start the for-profit people sector and help move Singapore towards a vibrant and connected people sector economy. Tourism”
“Sir, in the first world-wide estimates of just how big the non-profit sector is, Johns Hopkins University studied 37 nations and found a total operating expenditure in 2002 to be at US$1.6 trillion. In other words, if the non-profit sector were a country, they would be the fifth largest economy in the world. In the US alone, the non-profit sector employs nearly 11 million Americans, or about 7% of the workforce, and contributes more than 9% of GDP with a total asset of US$1.7 trillion in 2003. Currently, most of the fees and dues were the greatest generators of income followed by government payments, private contributions and other sources. But this income composition is about to change with the rise of for-profit social enterprises. For-profit social enterprises are legally incorporated entities explicitly designed to pursue a social mission. Often, for-profit ventures identify social gaps and look for innovative market means to create system change and sustainable organisations. While their primary objective is social impact, their for-profit structure requires paying attention to a double bottom line, ie, dual social and financial objectives that guide managerial decision making and determine success. Some examples are Grameen Bank, Shore Bank Corporation, Easybeinggreen and a listed company called Free Play, which help to create jobs in difficult sectors and cultivate self-reliant societies. I believe the Minister would agree with me that encouraging for-profit social enterprises to bloom can help redefine our people sector economy from one that is charity or Government driven to one that is sustainable and profitable in the long term. This, of course, can be translated to less tax dollars needed to fund social programmes.”
“Two points of clarifications, Sir. I mentioned that with just one vision that he had, it is one simple vision, maybe not so simple, that inspires the whole generation of architects, scientific researchers, technologists and so on, to break through early impossibilities and opening up new horizons and imagination. I am wondering whether we need to also have a consistent but big and seemingly crazy idea to be put up, to message it, not only to Singaporeans to inspire them, but also to the foreign talent who might be attracted by this creation. By the same token, perhaps art being something which is always associated with it being colourful and attractive, it could also be the same message that is put up through our tourism initiatives. Could the Minister comment on that?”
“But he was persuasive and, within two years and a huge R&D budget in space engineering and science, America saw at least 40 US-made satellites circling the earth, thousands of new companies, and tens of thousands of new jobs created. Space and related industries were generating new demands in investment and skilled personnel, and the best from all over the world came to fulfill that dream. Back to Singapore, what is our big or "crazy" vision that will attract and retain the creative talents, both local and foreign? How do initiatives like "Cultural Capital" and "Digital Media Hub" contribute to making Singapore a vibrant, creative, eminently liveable place that talents will gravitate to? On the other hand, how can we ensure that this small geography would be liveable for both the extraordinary talent as well as the ordinary Singaporean? How are we engaging our young and old on this? I understand that MICA is driving a multi-agency effort on the national branding and marketing of Singapore. So, what do we tell our business and leisure tourists about this global talent hub? How can tourism efforts contribute to this effort? In short, is our idea big or crazy enough? What is our creative imperative? Do we have a timeline set? Creative Community 1.30 pm”
“Sir, at the last World Economic Forum (WEF) at Davos, I met Mr Samuel DiPiazza Jr, Global CEO of PricewaterhouseCoopers, USA, who noted that in his 30 years of experience, he has never seen such an incredible shortage of talented people across the globe and across a wide spectrum. Curious, I sought advice from one of my good friends and a fellow Young Global Leader, Mr Shai Aggasi, a young executive board member of SAF AG, which is one of the world's largest systems integrators, and also a member of our NRF Scientific Advisory Board. Shai has recently assembled a team of 25 of the world's top brains in the very competitive IT sector. I had wondered what was his strongest persuasion. Was it money, promise of the good life or career development? Shai explained that, while all of the above are important, these guys already have the comforts of a good life and good pay. It would have been a mistake to treat these top talents as mere engineers or managers. They are obviously superbly talented and hardworking but, most of all, they are creative people who want to create and not imitate or follow the norms. Hence, he persuaded them with a single vision, ie, that they have a choice of living their lives perfecting someone else's invention, or they can become the inventor. He claimed that that one idea struck a chord with all 25 top talents, and he thinks that SAP is on the verge of a great surge forward. That conversation reminded me of another great man, ie, J F Kennedy (JFK). In the summer of 1961, a time of uncertainty at home and abroad, JKF proposed a "crazy" vision of putting a man on the moon by the turn of the decade. At that time, some sneered at the "unreachable" dream.”
“Third, in view of the ageing population and falling fertility rate, perhaps more efforts to intensify retirement planning, adopting a holistic approach and raise awareness on the need to supplement CPF funds and possible alternatives. What is the budget set aside for this year and what would the focus and funding principles be? Would MOF also consider full funding for MoneySENSE programme?”
“Sir, Mr Tan Ah Kow and his wife Mary, both HDB heartlanders in their 40s, have told me that they have attended some MoneySENSE programmes. They feedback that the courses tend to be general and theoretical and do not cultivate a life changing habit. They wanted closer guidance and skills to improve their lives but one-off seminar that aims at quantity rather than quality, just would not do. Like this year's Budget that targets at giving more to those who need most, MoneySENSE perhaps could focus on qualitative programmes that target at in-depth skills acquisition and paradigm shifts. Some strategic focus I would suggest would be to look at capacity building within the people sector and that includes NGOs, VWOs, Family Service Centres (FSCs), social enterprises where there are ready and needy clients, and do train a training programme that imparts financial literacy or planning skills to counsellors to provide a more holistic approach to help the needy or distressed. We all know that financial concerns can often destabilise a person or family, leading to disorientation, loss of jobs and eventually some poverty cycles. Such programmes may cost more but certainly achieve a better long-term impact on the individual, the family and, of course, the society at large. Two, inculcating the right sense of money value system and financial literacy in younger children today could help groom a generation of financially savvy youths who are also prudent. This would help prevent Singapore from becoming a nation of debtors - with overstretched consumers whose cashflow overwhelms inflow, leaving very little for the rainy day or retirement funding.”
“Singapore, I feel, can envision to be (a) a leader in humanitarian issue of providing meaningful opportunity to the low income, as MOS Lim Hwee Hua said it will enhance our reputation as a responsible global citizen; (b) we can be a leader in innovative financial services and lead in the creation of a new micro-finance securities, similar to how asset backed securities were created in the 1990s, and established Singapore as the global centre for trading these securities, like Chicago being the leading futures or options exchange. Geographically, we are blessed to be in the heart of the emerging wealth centre and micro-finance industry in Asia. In economic terms, we have both the supply and demand right at our doorstep. Hence, may I ask: can we widen our horizon and explore positioning Singapore as a global leader in the emerging fields of philanthropic wealth management and micro-finance? These, together with existing focus on the Islamic finance and banking, pension or retirement funding, markets, REITS, etc, can help to strengthen our position as a global finance hub. Why not let a thousand flowers bloom with some innovative fertilisers and Singapore sun? Over-the-Counter Financial Transactions”
“Sir, Singapore wants to develop into a full-service global financial centre. But the competition is hot. What is our competitive advantage? Although "The Banker" magazine ranked Singapore as the "Financial centre of the future" and Forbes magazine estimated that Singapore will overtake Switzerland as the leading centre of offshore private banking by the year 2008, I was curious about what else we must do to realise these prophecies. To be on the cutting edge, we need to innovate existing products as well as scan the global playground for emerging trends. I would like to highlight two rapidly growing niche markets - they are the philanthropic wealth management and micro-finance industry. On philanthropy, there is a worldwide acceleration of philanthropy gifting, as witnessed by younger founders of companies like Google which has recently given US$100 million as micro-finance endowment fund, Salesforce.com that has got a 1% rule, Gates and Melinda Foundation, etc, which all accelerated the pace of large sum giftings. How does Singapore intend to tap into this multi-billion industry? On micro-finance, Credit Suisse estimated the need for micro-credit to be at US$100 billion, with a short-term market size of between US$15-US$20 billion. Banks that traditionally serve the upper markets, like UBS, Credit Suisse and Citibank, have all jumped on the bandwagon to offer a suite of micro-finance products like bond funds, micro-savings, micro-insurance, and so on. It is a high growth industry, fueled by market size and profitability. It witnessed growth rates of between 20%-40%, with extensive diversity in structures and frameworks across the world.”
“Building a conducive workforce infrastructure that fits into the 21st century knowledge environment and the possibility of enjoying one's fruits of labour as well as self-reliant groups in both the for-profit and not-for-profit sectors are thus critical pillars to Singapore's continued shine on the global stage. New eras, new challenges. We need new tools to propel the economy and society forward and address the changing landscape. The focus of the knowledge economy is on the knowledge worker. Let us focus on our people. May we progress in unity. Mr Deputy Speaker, Sir, I support the Budget. 4.40 pm”
“Many support social entrepreneurs to maintain their competitive edge and re-invent themselves along the way. Governments also have much to gain from supporting social entrepreneurs but they should not make the same mistake of seeing them as simple service delivery subcontractors. Social entrepreneurs are system change agents. Like business entrepreneurs who are innovators in the corporate sector, social entrepreneurs are innovators of the public sector. Government should create the needed support system to allow them to innovate and scale, without wanting to take over the innovation process and kill it as a result. To go even further, Government could incentivise social entrepreneurs in both the for-profit and not-for-profit sector via MTI and MCYS respectively to kick-start and grow this sector. It is precisely in helping those successful social entrepreneurs to achieve scale that our solutions lie. We need new alliances, new thinking. Government and aid agencies can no longer be the sole actors in addressing these social gaps, neither should these always remain cost centres. The private sector can no longer see itself as simply in the business of making business, and the philanthropic sector cannot be expected to come in to fill the gaps all the time. We need hybrid organisations that creatively bridge across these sectors and address the social gaps. I would elaborate more in the COS. In summary, Singapore would not have been what it is today without a hardworking population. A hardworking population thrives in an environment that rewards hard work, not just economically but socially and psychologically.”
“In Singapore, this sector was given a boost with the recent regional disaster relief efforts. More people have come forward to set up organisations to cultivate self-help and mutual-help. Of particular interest to me is the social enterprise sector and micro-finance. [Mr Deputy Speaker (Mr S Iswaran) in the Chair] 4.38 pm Here, I would like to declare my interest as the founder of the Social Innovation Park, which is a non-profit organisation and social enterprise. Recently, the Social Innovation Park, in conjunction with the Straits Times and the Schwab Foundation for Social Entrepreneurs, declared Singapore as the 24th country that they are giving the Social Entrepreneurs Award of the year. The Schwab Foundation is expected to add a dozen more countries to the list this year, signalling a huge interest in social enterprise as problem solvers and change makers in the 21st century. To give a technical definition, social entrepreneurs find gaps in societies, seize the opportunities to innovate and create systematic, sustainable social transformation based on a sustainable market or business framework. Social entrepreneurs undertake both public and private sector functions simultaneously. On one hand, they work with those populations the governments have not been able to reach effectively or have ignored. On the other, they address market failures by providing access to private goods and services where business does not operate because the risk is deemed to be too high or the financial rewards perceived to be too little. This distinguishes them from social organisations built on the paradigm of charity and using the approach of charitable acts. Today, many large companies are seeking ways to access new markets and build their brand as responsible companies.”
“It includes not just NGOs, VWOs, but also clan associations, craft associations, professional organisations, trade associations, UN bodies, regional bodies, social enterprises and local franchise models like the Kao Shen Restaurants, High Point House Removals, Cabbages & Condoms, Restaurants, WCs, Cafes and so on. In the more developed countries like the US or Europe, this is one of the fastest growing digits in the GDP. It has been found that the people sector often fills the gap where macro-economic policies and government agencies could not adequately address. Some of the benefits are as follows. This non-profit industry could be fashioned as one of the new economic engines of growth and the spin-off could be enormous in MICE, which is meetings, incentives, conferences and exhibitions, in fund management, in tourism, R&D, standard controls, as well as socio-political and economic leverages. It can also help to expand the job opportunities to suit the changing employment landscape and expand lifestyle choices. It can also inculcate good value systems in the society. As it progresses, we can mature into a more caring and less individualistic society. Last, but not least, it can also cultivate a good people-to-people tie with the region and international communities as we witnessed during the year of tsunami rescue, relief and reconstruction efforts. Singapore, with its connectivity and efficiency, is well-placed to exploit this economic sector. With our excellent logistics network, transparency and premium branding and a complementary growing wealth-management sector, we can engineer ourselves into a regional hub like Geneva, Belgium and Washington and even give them a run for their money since we enjoy clock-work efficiency at a relatively lower cost.”
“And the first step would be to address some of those and create a scheme that caters for the needs of a 21st century workforce. A number of companies, multi-nationals included, are starting to look at the section 5 schemes again. But we need to quicken the pace of this progress. Where the Government can help is in three areas. First, by instigating a process that will take a look at how the scheme can be improved and thus be given added appeal for employers. Two, by setting guidelines for the general shape, terms and conditions of the plan to ensure they meet their longer-term objectives. This can be controlled through the tax approval process as in many countries. Three, by assisting in the marketing of the scheme, perhaps working with the accounting firms, business associations and so on. I would, therefore, like to suggest a committee to be set up which comprises a cross-section of the stakeholders, including the labour unions, Government officials, accountants and tax consultants, to perform a thorough examination of this whole area with the view to recommend a way forward that ensures the future of Singaporeans. We are no longer talking about helping them to realise their retirement dreams. What I think we are talking about is avoiding the retirement nightmare urgently. Last, but not least, I would like to briefly highlight a rising sector in the global stage which not only complements our ethos of a self-reliant society which is fitting for a knowledge economy where people are its focus, but could potentially be a new engine of growth in Singapore. I am referring to the NGOs or VWOs for-profit and not-for-profit social enterprise sector. Let me term this generally as the "people sector". The scope is very wide.”
“But in the shorter term, we, as an economy, also benefit. First, with the larger pension fund, we will be able to develop Singapore into the dominant regional force for the wealth management industry. The second is to continue to attract, but more importantly, to retain the so-called, foreign talent. The creation of a healthy thriving pension industry will generate significant interest for fund managers as a large pool of funds becomes increasingly available for management. And as far as foreign talent is concerned, it cannot be expected that a stable long-term environment can be created if this important resource is excluded as it is currently, from being able to save in an efficient manner. If it is to be set up, should the individual decide on how this pension fund is invested as in the SRS or CPF? My view is that few laymen are investment experts. The funds should be professionally managed for simple safety reasons although some degree of high level preference could be worked into the overall investment mandate. In addition, full resources on large schemes can reduce the drag on value significantly through reduced management charges. The worker is thus getting access to low-cost expertise which is something normally beyond his reach. You may ask: how do we move this forward? Many people are not aware that the tax efficient pension framework currently does exist. This is in the guise of the scheme that is approved under section 5 of the Income Tax Act. Largely, this scheme became redundant under the dominance of CPF. However, in the weakening grip of the CPF, we should revive interest in the section 5 plan concept. The scheme, as it currently stands, has some deficiencies.”
“This may be met with some resistance by employers when schemes are first set up. But the key elements of a successful scheme are that there must be some sacrifice and there must be discipline despite transitional issues. On the benefits side, the biggest draw has got to be employee loyalty. Singapore suffers from an overly fluid workforce where loyalty ceases the day after bonus. This is obviously an intangible, but it is nonetheless real and any scheme will have to be tailored so as to carry with them some stickiness. It would clearly be unfair for a moving employee to lose accrued benefits entirely. However, a delayed vesting schedule, say, by one or two years, would be sufficient to make the decision to leave more mementos, leave them as it is currently. What is clear is that the scheme should not contemplate the payout at any time before retirement. Otherwise, the desire to leave may be enhanced even further. One suggestion is that the value is paid into the CPF Special Account where it must stay until retirement. That helps to deal with the portability concept while the vesting adds the loyalty component. In addition - and this is where the Government comes in - tax breaks should be available, not only for the on-going contributions, but also for initial contributions that seed the scheme. These breaks could come in the form of double tax deductions and help add to the appeal of the scheme. This may appear to be an initial cost to the Government but there is no doubt that if a self-sufficient and effective pension environment is created, significant pressure will be taken off the need for Government intervention and potentially losing bailouts further down the line. These, of course, are longer-term benefits.”
“Another solution, quite simply, is that we need to help to create an environment that encourages not only employer-sponsored pension plans, but also industry support group schemes that cater for the self-employed and the entrepreneurs who are so important to our future. This latter group is the most difficult to cater for, but we must find a way. But creating a pension environment is not something that the Government can easily legislate. It has to come as a result of the various parties, seeing the benefits and actively wanting to be part of the environment. To do this, we have to help answer the question: what is in it for me? Of course, the Government can throw in sweeteners and, through the tax framework, direct the general thrust and format of the schemes on offer. I will come to that in a moment, but the drive has to come from the interested parties themselves. The most interested party, of course, is the worker, as it is his future that is at stake. What is in it for him is the comfort of knowing retirement will not be a struggle, something to be feared, but that he will have a basic level of self-sufficiency to look forward to throughout the twilight years. If you can save on top of that, then it is good and the pressure is solved. What about the employers? The employers, before getting into the benefits, will probably have two concerns. The first is the cost contribution to the scheme and the second, the cost of administering it. These are valid, but ones which I think can be handled by repackaging employees' benefits as well as reaping efficiency from economies of scale. For the smaller businesses, woo schemes and multi-trust accounts could be used to bring down and share those costs.”
“Let us leave the CPF where it is, as a useful but reduced component of the retirement landscape in Singapore and move on to analyse how the pension shortfall arises and how it is only going to get worse as time goes by. Let us look at the demographics. In the last 15 years, the life expectancy of Singaporean females has increased from 76 years to 81 years and the males from 71 years to 77 years. In the next 15 years, it is expected that another six years or so will be added to these numbers respectively. At this rate, it will not be long before the average retirement span is as typical as a working life. Relying on the CPF and the way it is headed will mean that there will be significantly less to go increasingly further, and the numbers simply do not add up. In the good old days, a typical family would comprise two or more grown-up children supporting one retired aging parent. The average child per family now is 1.23 or so, and parents are living longer. The problem is, so are grandparents living longer. The pyramid is rapidly inverting. What we now have is 1.23 children supporting mum and dad, granny and grandpa. And if 1.23 of that son gets married to the other 1.2 of the girl, you can add another six to the list. We need to face these demographic challenges and face them now before it is too late. So what is the solution? I think there are a number of alternatives. The first is an extension of retirement age and this may be inevitable anyway, but will require a change in both the employer and employee's attitude, as well as the workforce infrastructure that is conducive to the working aged, employed or independent.”
“Given the growth of independent workers, it is all the more important to build an infrastructure that can provide independent or aging workers with the support that they need. Mr Speaker, Sir, let me now turn my attention to an issue that is particularly close to my heart and that is the area of retirement savings. I was indeed disappointed with the lack of mention of this topic in this Budget. I think I will not do justice to the possible solutions if I am to try to concise them within this short time. So instead, I hope to bring home the magnitude of this issue and ensure a process where it is put high on the agenda. Why should we be concerned with retirement savings as an issue? The CPF, you may say, is there for all and will stand the population in good stead when the time comes. It is there for all, I agree, but that is all. Studies by PricewaterhouseCoopers, the major accounting firm, have shown that the income replacement ratio for the lower-paid would be in the low 20% range and for the middle and higher-income earners, even lower, and that is if the CPF is their sole pension source. This is against an accepted international target of 66%. What level of subsistence income or annuity can one obtain from that savings? Certainly, they may have withdrawn sums to purchase a property which they live in, but if the answer is that they now have to sell this or do a reverse mortgage to unlock the cash, they will need to survive. Does that not undermine the whole concept of home ownership that the Government espouses? There are, of course, other concerns with the CPF that I could spend long hours debating them. However, that is not my purpose here today.”
“Having said that, there has been no comprehensive study or data on this growing group. Are they predominantly low or high-income? Are they male, female, old or young? Perhaps, it is time to commission such a study and adopt a new paradigm on building our workforce infrastructure. Existing and new organisations could also be incentivised to provide independent workers with the things that traditional job-holders receive from employers. This could give them some economic security, career opportunities as well as a sense of community. An analogy is the craft associations or guilds during the middle-ages which actively tackled the needs and concerns of independent workers. These groups could include the professional societies, unions, community organisations, staffing companies, college, corporate alumni groups, Government NGOs or non-profit organisations. Over the longer term, there is indeed a great potential to link up independent workers, the staffing companies and providers of training and learning services. Perhaps, we can also pioneer a sort of a network guild model, bringing together a group of focused professional organisations and linking them with providers of services of independent workers. This model is particularly interesting since it actually parallels the network structure characteristic of today's most innovative business organisations. An example is a research done at the MIT's Centre for e-business that examines innovative new approaches to projects, staffing and management. These include B2B talent exchanges that link up large companies with networks of temporary staffing firms, new collaborative technologies that help virtual teams work more effectively and tools to enable e-procurement of services, including freelance talent.”
“Unfortunately, this independent workforce also has the least institutional protection. Like the aged workforce and indeed, many of the retirees would join this work arrangement, individuals with flexible job arrangements pay a steep price for the way they work. They lack access to the same rights and protection enjoyed by the traditional workforce, making it increasingly more difficult to survive in a competitive environment. While these laws and policies were not designed to discriminate independent workers, they were drafted with no consideration of them. As a result, many are faced with tax penalties. For example, if they attend some educational seminars or conferences, they will not be able to claim against it, or up to a very low ceiling, compared to if they are employed and the company fully pays for those conferences. They also pay for high insurance cost because it is done on their own and not collectively, and, of course, inadequate retirement savings. While the number of independent workers is growing, public policies and our system of delivering benefits to working people, particularly retirement benefits, and even health benefits, have not kept pace with these dramatic changes in the structure of work. Therefore, they must be updated to reflect the new era of flexible, mobile and contingent work. On this note, I would like to commend the Prime Minister for his far-sightedness in including this group of workers in his Workfare Bonus package where the bonus does not discriminate between employed and self-employed, full-time or part-time workers, so long as they have consecutively worked for six months and qualify for this income criterion. This is indeed tweaking our fiscal policy towards an inclusive society.”
“In business terms, are they not one of our greatest financial assets? If a machine reaches a notional lifetime useability but is well-oiled and still working fine, would we retire it unwittingly? If not, why do we put a notional lifetime use-by date on our aging workforce and an entire labour infrastructure and regulation to support it? We need to relook at our employment landscape and infrastructure and find ways to unlock the value of our aging workforce. The skill obsolescence challenge needs to be effectively addressed, and labour markets need to be accessible while accommodating different forms of participation. A very recent survey of about 12,000 employees in Europe by the Manpower Inc is shedding some light on the shifting expectations of the workforce. Senior citizens are likely to be driven by different priorities and motivations and will have their own expectations of how to balance work-life, compared with young people. With increasing age, life priorities change. It is also noteworthy that the measures will cover another rising group of workers commonly known as the independent workers. Broadly classified, they include the contract workers, freelancers, self-employed, sole proprietors, consultants, part-time or contingent workers, temps, etc. The knowledge economy work environment certainly encourages the growth of such a sector and, of course, the economic downturn of the past years has encouraged businesses to adopt a range of flexible employment practices, from outsourcing to downsizing, to greater reliance on temps - contract workers, freelancers, and so on. Firms employ them to cushion volatile market conditions. And from a business perspective, they have worked well. Companies were able to adjust quickly during boon and bane business cycles.”
“Government labour market institutions like trade unions will have to redefine their services and functions and how they deliver them or risk being irrelevant. Therefore, a passive policy is a ticket to marginalisation. At the level of the enterprise, the operational tools that ICT has made in principle, made it possible to do things differently. Management practices in the way we organise work, however, are, to a great extent, still a heritage from the Industrial Age. It seems to me that the question of work reward-life and shift of value from machines to human capital must be considered together. Systemic change to the economy, where decentralisation and outsourcing are now the norm, would have a profound effect on the way that jobs are organised and how workers receive their benefits. Over the years in Singapore, economic policy doctrines have shifted towards market liberalisation. Labour markets are expected to adjust to changes on their own, as the old levers are no longer available or not relevant to help in the adjustment process. With increasing reliance on the markets and the move to the knowledge economy, regulations also need to shift from protection of the individual to empowering and enabling them to protect themselves. Public policies reflecting this changing employment landscape and a fitting infrastructure for this brave new world should be promptly addressed in fiscal and policy measures. Against the changes in the ICT revolution are the changing demography and workforce. Given our aging population, a particular concern is how we can engage and productively optimise this growing human resource. Do we recognise that at no time in history have we had such an educated and invested aging workforce that is rich in knowledge, experience and network?”
“The tools introduced by ICT are making work increasingly time and location-independent. The knowledge worker increasingly works in an environment in which work, play and life become a continuum and not compartments. Fostering talent is not only a question of material rewards but, to a great deal, a question of understanding how to motivate and inspire creativity, innovation, initiative and striking a right work-and-life balance. The problem is that not all aspects of the world of work have kept up with the times in the knowledge economy. I, therefore, find that we have a number of discords between the economic realities and the labour market structures and practices. Please allow me to elaborate on a few of my observations. A larger share of the workforce will not define their future in terms of a single employer. Organisations will emerge to give them the extra labour market security, and that could include manpower, trade unions and employer organisations, which could be in fashion as 21st century guilds. Itinerant workers will sell their reputation and what they know or can learn to the labour market. The guilds, hopefully, will provide quality assurance and learning needs to itinerant workers. Job quality will bifurcate. A high quality of life, higher locational choices, greater potential to balance market hours of work with non-market hours will also occur. These changes will in fact favour the inclusion of the vulnerable, which includes the mobility-disabled, women with family responsibilities, the aging population, etc. The digital transactions will bypass inappropriate policy at the speed of light. Entire regulatory environments, if inappropriate, will be marooned.”
“Mr Speaker, Sir, thank you for allowing me to join in this debate. This Budget is one that tidies up past Budget considerations and keeps its focus on the group that is most needy, as well as developing the necessary infrastructure for our long-term social and economic progress. But it is also a Budget that signals a change of policy from giving to Singaporeans in general to one that targets its biggest surplus to those who need it most. It is a move that nobody can fault and one that sets its tone on reinforcing the value of care and share with the less able or less fortunate in the society. This is a "Progress in Unity" Budget. But no Budget speech is without its laments. One big part of our Budget is aimed at the Workfare Programme calling for workfare, not welfare. It is highly laudable, but I think it could have gone further to address the changing employment landscape in the new ICT era. Rewards based on the current workforce infrastructure may be short-lived. What is needed is a new paradigm, a framework that fits in the ICT revolution. Of course, we cannot reformulate our institutional systems overnight, nor will it be without pain. However, unless efforts to update the current infrastructure to address the changing demography and the knowledge environment are quickly put in place, I think we may risk redundancy. Let me elaborate. Much of the current work reward and life infrastructures were developed based on the industrial revolution model which rewards work according to the clock-in-clock-out time cards and is quite location-dependent. During the period when machinery and automation were all the rage, there was even a shift in the economic value from labour to machines. The ICT revolution reversed this equation.”
“Sir, out of the 6% of cars that failed the inspection, is there a breakdown as to how many percent of that would be commercial vehicles and how many percent would be private vehicles? Because my suspicion is that the private vehicle owners have got a lot of vested interest to ensure that their cars work well, given that this is a big ticket item. Whereas the commercial vehicles may belong to the owners, better utilised and maybe less well maintained but I am not sure. Could we have a breakdown of the figure?”
“The Minister mentioned that there will be exits at strategic points. Would he consider strategic exit as that nearer to the town where the population centre is, which is next to Punggol East Road?”
“Sir, the Minister said that that particular stretch of the TPE serves the Sengkang, Punggol and Pasir Ris residents. I think it actually serves more than just that, because it also serves the residents coming down from Yishun via the SLE, Sembawang and so on. All these are growing towns. My question is whether there are plans to cut additional exit points such that the flow would be a bit smoother from the towns into the expressway itself. In addition to that, why was also the current flyover at Jalan Kayu fully built when the population there is really a lot lower, compared with the eastern part of Punggol Road where the population build-up is?”
“The SPS mentioned that the age was extended in the year 1995 and, obviously, this means that the older age group will also be paying a higher premium. I think this goes with the basis of insurance itself. But I would like to go back to the basis of insurance, which is the SPS' mortality table. When was this mortality table revised? Is it up to date with the current life expectancy? Surely, with a longer life expectancy, the premium towards the end itself has to be readjusted.”
“Sir, given the high publicity and the links that have been established, are there concrete plans by MCYS to promote sports in Singapore and to build on the current momentum?”
“Sir, in terms of the sporting arena itself, what sort of links do we expect to see arising from this event? With the appointment of Mr Ng Ser Miang as one of the IOC council members, what does that imply for Singapore?”
“Sir, I have already asked a few questions. On this part, those who are trapped in the high prices of mid to late 90s, some of them who want to downgrade and apply for a second HDB flat are currently asked to pay a resale levy. They could be suffering from negative equity but the resale levy still applies. Could the Minister consider some measures to help these people?”
“Would there be some educational programmes to inform and educate buyers on the mid-term and long-term financial impact of their property purchases? Ultimately, the buyers will have to be responsible for their property purchase. But when the CPF liberalised in the 80s, the housing market went up. In the 90s, the unit trust investment also went up. How would this package impact on their financial prudence? I am advocating more consumer or buyer education. Last but not least, on the HDB resale levy, in the mid-90s, the HDB flat prices were still holding on even till the late 90s. And a good group of first-time buyers indeed bought HDB flats at a price that was lower than the market price.”
“Sir, I thank the Minister for coming out with a whole package of changes which is quite comprehensive and easily understood. I must also give praise to the fact sheet on the changes to the CPF property scheme which explains the changes very well and succinctly. My own assessment is that, overall, we will have a positive impact on the property market itself. I have a few questions. First, the lowering of the MLP from 60 to 30 years will certainly augur quite well, especially for the retirees. How will that also impact on the bank loan policy which currently does not favour properties with remaining leases of 60 years and below? I really like the change on the transfer of Medisave account overflows to Special Account and Retirement Account instead of Ordinary Account. I think that change itself does give a certain level of safeguard against over investing in property and, at the same time, allows the retiree who does not want to over invest in property to continue to put his money in CPF to enjoy a higher interest rate. I think that is a really good move. On the impact of the news itself, my own assessment is that it will be overall positive. It will certainly encourage more schemes to be generated by banks, housing agencies, developers and so on and so forth to attract buyers. And the whole kaleidoscope of schemes to attract buyers will certainly, from our previous experience, overwhelm the buyers to buy bigger properties than what they need.”
“Sir, first, I would like to support Mdm Cynthia Phua's proposal on looking at helping residents to right-size their property. There have been a number who have come to downgrade but they do suffer certain penalties, for lack of a better term. So, perhaps the Ministerial Committee can look into that. The Minister said that many of them have low educational levels. I notice that many of them are also from broken families and families with perhaps one member or so with criminal records. Some of these people have come to my MPS and said that they have been trying to look for a job to turn over a new leaf. But being in their 40s or even 50s, they find it tremendously difficult to look for a job. So my question is: is there any specific policy targeted at this group of people who might want to turn over a new leaf and yet in that so-called not-so-desirable or difficult age group?”
“As the two IRs will be located in the south of Singapore and within a few minutes' drive of each other, road congestion will surely be the order of the day. Already the Marina South highway and the roads leading to Sentosa are seeing traffic jams now and then. What more will we see when the two IRs come up? I hope the Ministry of Transport will make a thorough study of the networks of roads leading to the IRs as the volume of traffic will surely increase on a daily basis and will be worse when functions and conventions are being hosted. Similarly, healthcare cases of pathological gamblers will also increase. Every day, we are faced with addictions in many forms, such as drug addiction and other immoral addictions. Gambling addiction will add to the increase in the number of addicts. Here, I am assured by the Minister for Health that the Health Ministry will be prepared to handle increased problems in this area. Research will have to be updated and immediate action put in place which, unfortunately, will lead to an increase in healthcare expenditure. Sir, our nation has to move on with the times to be economically successful. At the same time, we are subjected to all sorts of new temptations daily, sometimes moving us to do things which are against our best moral judgement. We must be prepared as a society to find ways to keep our social values deeply rooted so that come what may, we are still the best country to live in. The different races living together and working together can continue to do so as long as we keep our work ethics intact and the belief that economic success comes from hard work and strong family values.”
“In contrast, the IR concepts that I have seen are not only futuristic in design, but also conjure a sense of confidence. Surprisingly, it also blends well with the surrounding landscape with hardly any images of a casino on the exterior. So, I would like to urge the Government to consider revealing as soon as possible some images of what the two IRs will, or may look like, so that the casino's images do not get entrenched itself in the public's mind. This will then help the public to concentrate on the positive effects of what the IRs can bring. If an IR with a casino is the way to go for Singapore to succeed in competing with the rest of the countries in the region, then we must be prepared to live with the ill effects that it will bring. The lure of big monies through games of chance and its social problems will surely permeate into the population. Thus, new measures must be in place to curb as far as possible all ill effects of the casino. Our legal system and police force must be equipped with the powers to prevent related crimes and money laundering from spreading. The local residents must be shielded from the lure of bright lights of the gaming halls and entry barriers reviewed regularly to restrict the tempting urge to enter the gates of the casino. Our religious and community groups must improve their moral teaching methods to instil good values to the young and old, so that they will be able to withstand the temptations before them and be able to make the right choices for themselves. Sir, allow me to digress slightly from the problems of gambling to an observation on transport matters that I feel may cause some irritation to visitors and locals patronising the future IRs.”
“I support the Prime Minister's decision in having the IR for Singapore, as it would create not only more jobs in a big way, but also lift the level of excitement in business circles and introduce new activities for families to enjoy, as in the theme parks. All these and world-class events have been missing since our early history. However, I will, on the other hand, not support any decision to allow the proliferation of casinos beyond what has been committed. We have to be sensitive to the feelings of those who are opposed to gambling, and the Government must gauge the sentiment of the people very carefully, especially when the country is moving towards a more open society. I know it must have been a most difficult decision for the Prime Minister to make to allow the IR to house the casino. But now that the decision has been made, we must all rally around him and make a success of the IR. The care and intensity that the Government has placed on this subject has shown that it will deal with the future social problems arising from gambling with great concern. From my discussion with my grassroots leaders on the casino issue, I have the impression that many do not have the correct knowledge of what an IR is made up of. Some still have the impression that the IR looks like a big casino building. Others see it as a row of huge hotel buildings fronting the waterfront, imposing itself on other smaller buildings currently standing in the vicinity of the proposed sites, especially the Sentosa site. Their thoughts are not far from how casinos and resorts look like compared to the images that they have seen over TV and in the papers, who in turn have used pictures of other casinos and resorts in their reports.”
“We should then try to reach out to as many as possible and inform them not to be lured by the hope of winning big in gambling. The social ills of casino have a tendency of passing through the walls that are supposed to trap the on-goings of casinos within and, if not carefully managed, will creep into the social fabric of our nation, changing the good values cultivated over the years and which has helped bind our different communities together. The danger of casinos causing a subculture to develop and controlling the behaviour and thinking of the people and advocating all that the casino offers are something which Singapore as a small country will have to be aware of. As we live in a compact society, it would be difficult for one not to influence the other and, subsequently, collectively let our guards down to the ill effects of such an industry. As we cannot live in a glass bubble, we must then guard ourselves against undesirable values of the casino which are not conducive to good social values. However, as I have stated earlier, other aspects of the IR cannot be ignored and will need to be recognised especially for its economic values. It has the potential to attract the rest of the world to us and to bring Singapore to the level of other major cities of the world. It has been demonstrated that the operators of the IR has the range of soft capabilities to draw on visitors to Singapore, allowing the latest attraction in entertainment, be it music, film or concerts and other conferences to be staged here. Such a magnetic pull will be important to Singapore as many other countries in the region are also trying to be such a place.”
“May I call on the people to support the Cabinet's decision so that we may move forward together and also on the Cabinet to complete the painting of Singapore's social, physical and economic landscape on the canvas so that our people can track the same path with the Cabinet as one united people. Mr Andy Gan Lai Chiang (Marine Parade): Sir, after viewing the various proposals submitted by well-known resort operators for the proposed integrated resort at Marina Bayfront and Sentosa, I was impressed by the confidence that investors have in our country, and it made me see the economic benefits that could radiate from this massive project from a different perspective. I have begun to view this project not as a dedicated gaming house but a sight that may position Singapore as a country that has the influence and capacity to reach out to the rest of the world, notwithstanding its limited land size. Before viewing this, I had a very sceptical impression of such a resort, built upon my impression of how Las Vegas casinos started off, and how it subsequently took on a disguised image of a family-destination successfully drawing in the crowds despite being located in desert country. Personally, I am not in favour of promoting the setting up of a casino in Singapore, in spite of it occupying a small area in the proposed integrated resort, as the ill effects of a casino, apart from the evils of gambling, are well-known. Furthermore, a casino gives a sleazy image to a country that has built its foundation on hard work and with a clean, honest and efficient Government leading it. Many of my colleagues in this House have given examples of how bad the effects of gambling have on people, and I agree with them.”
“But I think what we must do is to strengthen the core values and basic family units that our society stands for and, in fact, to also strengthen our financial planning principles so that we can be very clear what can be gambled away and what cannot be put on the betting table. Sir, in all, I think our people have spoken and so did the Cabinet. I reckon that, to be or not to be, was the question. Now that the decision has been made, we need to put our bets on Prime Minister Lee, who has unequivocally assumed the ultimate responsibility of the decision and win big. Be in the winner's circle as a united people. We need to rally behind the decision and make it a success. While PM bears the ultimate responsibility, people must share in the responsibility to make Singapore a success. After all, as the Chinese saying goes, "guo jia xing wang, pi fu you ze". A successful IR will certainly reap economic benefits which may be re-channelled to treat social ills and promote community strength, while a failed IR would leave us with all the social ills and negative economic equity. We have to get past this stage and focus on the objectives of this landmark decision, which is to transform not just the facade of Singapore, but also the core of Singapore, to inject life, responsibility, self and mutual help of the individual and the community. All eyes are on the IR now and I certainly hope that the IR or the casino will not become the only icon of Singapore. I think we need to complete the painting of our economic and social landscape on the canvas. We need a fuller picture of where we are going tomorrow.”
“Basically, the casinos are designed in such a way that they will try to generate as much noise and buzz, as possible, to passers-by. So, at the fringe of it would be the cheap slot machines - one cent, five cents, and so on. The idea is not for them to lose their money, but for them to create all the ringing sound of money dropping from the slot machines. Then as one progresses inwards, towards the core of the casino, there would then be the 25-cents, the 50-cents, $1, $10 and, of course, ultimately at the core would be the gambling tables. That is the psychology. Another example. A particular casino operator has come out with a card called the "winner's card". In this winner's card, what they do is to track the identity of the punter with the life-time economic value calculated. Whenever the punter comes to the casino and puts it into the slot machine or their own booth, it would send information through the central computer system to tell and track the winnings or losses of the punter. If they found that the punter is losing quite a bit of money, someone would turn up out of the blue and ask, "Sir or Madam, are you having a good game? Would you like some free vouchers for the theatres, hotels or F&B?" Therefore, the guy goes back happy losing, not knowing that his economic life value is being tracked there. There are many such examples, but I would like to move on to also voice another concern I have. I am especially concerned about the notion of normalising gambling, especially amongst children. In recent years, children are getting into the betting scenarios, especially with soccer betting. But that is once in four years, or when the World Cup happens. But, maybe they are doing it more now. And with the casino would we further normalise it? I am not sure.”
“But is this what they want? For the majority, yes. Well, then I say, "The ayes have it, the ayes have it." The IR sets a new tone for society. It is a tone that is more open, one where we trust our people to make the decision for themselves and, therefore, one that expects also responsibility from the people as more choices are put in front of them. Moving on now to some practical concerns. Sir, the proposals from the two IRs come from world-class players. These are mega gaming boys with international network and clients from all walks of life. Within every IR, there is also a complex eco-system of casino operators, junkets, sharks and thugs, and an unseen financial system that oils the machinery. To tighten the reins and choke the engine may bring an early end to the ventures. To allow the eco-system to grow would negatively impact our ethos. It will not be an easy balance or, even possible, to keep out the bad altogether. World-class IRs will attract world-class organised crimes which are sophisticated. The question is: do you have sufficient tools to deal with them? How far would we go in dealing with them? I would appreciate further clarification on our defence mechanism. On the other safeguards to be introduced, my sense is that casino operators would also come out with counter-measures to beat them. These are big players with extensive experience in human psychology in attracting punters. In fact, they hire Ivy League professors to design game floor and lure curious onlookers. Let me give some examples. First, the slot machines, and this goes back to my second experience at gambling at the slot machine with the US$5. It was not that I was lucky that I kept winning, but rather because these are five-cent machines and I was the free labour. How does it work?”
“Then, people needed to focus on basic bread-and-butter and all that they know would have a high correlation of what the Government wanted them to know. Today, the equation is different. There are cable TV, Internet and, of course, the frequent travels that expose Singaporeans to different people, lifestyles, priorities and viewpoints. The Government no longer has a monopoly on his mindset. If a desired lifestyle cannot be found here, many are educated enough and in sufficient demand in the region or the world to uproot and move with their feet. In that sense, we must offer sufficient space for the individuals to dream their dreams and live the lives that they so desire. Indeed, Singapore and her people have matured well, especially in the last few years. The very challenging circumstances like the discovery of the Jemaah Islamiyah terrorist cell groups in Singapore, the once fiery water and cross-straits issues, SARS, bird flu and, more recently, our reaction to the tsunami disaster, all demonstrate a good degree of resilience and maturing of our society at large. Collectively, we have proven to be a cool-headed people with a community spirit with a good sense of emergency and positive action to match. We are, after all, 40 years old and it is time to trust our people, have confidence in our people and let them decide. So I set out, at every occasion, when I meet with my residents and grassroots leaders, asking them for their opinion, conducting straw polls on the casino issue. The latest was done on Sunday, 17th April, and there was an overwhelming number of pro-IR residents. Of course, this is also borne out by the recent newspaper articles. The question is: can they take care of themselves and be disciplined? I think certainly not all can.”
“I think we need to seriously remake ourselves economically in order to keep our economy humming and bring jobs to the people. The IRs will bring a potential 35,000 jobs and indeed, like Mr Lim Boon Heng said, it is a number that is difficult to ignore. As the debate progresses, I realise that there is more to the argument of economics versus social benefits equation that meets the eye. It is not just about which value we treasure more. It is about the tone that we want to set for the Singapore society at large. The tone we want to set for our society is in fact the issue that I grapple with a lot. For decades, we have said no to casino because we do not want to change the ethos and values in our society, which is honest living through thrift and hard work. We wanted to protect our citizens from the negative influences of vices like organised crimes and gambling which erode our ethos. We make sure that they do not enter our shores. Hence, saying "no" to casino was a no-brainer. Yet, on 18th April 2005, we relented and said "yes". Is it because this generation of leaders have met with unprecedented challenges and gone soft? Are we seeking the easy way out? Is the decision to reap easy profit based on pure economic reasons alone? Or is this what the majority of our people want? But are our people mature enough to decide on such issues which circumstances and information may not be available to them? In retrospect, this is the critical point for the decision-making. And this is a critical difference between 40 years ago and now. Some 40-50 years ago, information was scarce and so was overseas travel. Anything which was not on-shore almost had little or no influence on the lives and paradigms of our people.”
“Those who are pro said that gambling is already prevalent and we need to bring back some lost revenue and create more economic avenues at the same time. So who is right or wrong? Through this, no one is right or wrong. It is a judgement call which verdict can only be known in retrospect. What is certain, however, is that this is no easy or hasty decision but one that has been deliberated and decided on by tough minds and warm hearts, all working towards ensuring jobs for Singaporeans and a better living. Obviously, without a robust economy and a face lift for the landscape of Singapore, many businesses would scout around the region for a lower cost hub that also boasts of good infrastructure and city buzz. A robust economy and jobs for everyone is critical to Singapore's survival. We have positioned ourselves well in the region and international arena. But we are past the era of a sleepy neighbourhood. In fact, our nearest neighbours are already giving us a run for our money, as India and the China dragon awaken at the same time. In the last two years, I met many young and successful entrepreneurs from the region who are part of the network called "The New Asian Leaders". They are all under 40 years old and run successful multi-million businesses. When asked if they have been to Singapore, they said "yes". When asked if they would think of expanding to Singapore, the majority said no. Singapore is not on their radar screen, whether for market size reasons, cost factors or competitive reasons. It got me worried. For a long time, we are a preferred destination. But for this group who will continue to grow and will become important movers and shakers in the new economy, Singapore is not on their radar screen.”
“What more with the casino next door operating 24/7 round the clock? Sir, one family affected is one family too many. There is cost on both the social front and the economic front that cannot be ignored. Last Monday, a 60-year-old resident came to my MPS for the 19th time. Her plea: early withdrawal of her remaining CPF. Her reason: her son had borrowed from the loan sharks and has gone mad from the pressure. He is now, in fact, at the Institute of Mental Health. She is left to carry the burden of repayment and she sobs each time she comes. But over the 19 times that I hear her, I realised that much of the money owed were gambling debts - hers and her son's. Chances are that she is probably still at it. I shiver to think what might happen to her and many others come 2009. More will come to ask for early withdrawal of CPF. More 55-year-olds who just withdraw their CPF money may also be found at the gambling tables and jackpot machines. This is worrisome as we already face a looming retirement funding issue. Yet, in every MPS, there are people who come to seek help to defer payment of arrears and ask for jobs. In fact, they make up the majority. For every gambling case, there are at least 15-20 cases of job-seekers and payment problems. With no job and many bills to pay, families face hardship and can be a social problem. That is the reality and the dilemma that we face. Sir, when the debate first started, it looks like a case of economic value versus social values and appears to be a case of which value is more important to us as a society. Frankly, I would rather have a first-class society and live a simpler life than a first-class economy with third class society. Those who are against asked: what price economic development?”
“But the group that I am really concerned with is the in-between who may be attracted by the glitz and greed in the casino, who walk into a casino by chance and get hooked by the casino operator's design. Sir, nobody goes to a casino, expecting to lose money, but they end up losing. Most people only wanted to try their luck once or twice but they could not leave thereafter. This is, in fact, how Chia Teck Leng got hooked. Let me quote Chia: "I started gambling in casinos in 1994. It started innocuously enough. I was simply passing time on board a cruise ship on a lazy afternoon. By pure chance, I had walked into its only casino, to be accosted by alluring colourful lights, attractive croupiers and the magical promise of easy money€¦ Just when I was wallowing in the glamour and triumph of my new found wealth, tragedy struck. I completely lost my footing. I made a goodbye tape in the event. At the point when I was arrested, I was purportedly the second biggest casino gambler in the world." As we know, he cheated banks of $117 million and has been sentenced behind bars for 42 years. I am sure that we will never endeavour a Singaporean to be the number one gambler in the world. The question is: how many Chia Teck Lengs will there be and how many mini-Chias can our society handle? If the gambling problem can be confined to himself or herself, then the problem is containable. The truth is that for every gambler, there is at least one family and a social network that is negatively affected. According to the MCYS' survey, this may be translated to 2.1% or 55,000 gamblers. In other words, even without the casino, we have at least 55,000 affected families or at least 200,000 people or so negatively affected by the gambling ills. This is no small problem.”