Singapore overambitious lah
-
Originally posted by timothytsgsg:
Start the engine from where? Time have change, from the era of opening free trading, bringing in foreign talent to now having casinos ..... nothing now can be say to be stable now, it's all volatile & man eat man environment, GLCs also no longer staying SG.
We are already behind them, my friend. While other countries' economics are chuggling to life- [b]we are still struggling to get the engine started. PAP has no or little idea in simulating a dormant S'pore economy.
[/b] -
One way to attract investments is to reduce Temasek Holding's control of the private sector from 60% to a mere 15%.
Our private sector is struggling because the govt controls 60%. That means a lot of efficiency has been lost, there's little competition and when there's little competition, people in the industry lose their creative instincts, their efficiency and their quick thinking reflexes.
Obviously, that's not the only way to restart the S'pore economy but the most basic way of simulation is to liberalize the private sector and make it competitive again.
One way is to get the govt out of the private sector. They will have established rules so as to run the sector as an adminstration but the govt shd not control the private sector in a hands-on type of manner. -
Some companies could be privatised to a greater extent, like M1, for instance. A management buyout should be a good idea. Same goes for the local operations of some MNCs.Originally posted by timothytsgsg:One way to attract investments is to reduce Temasek Holding's control of the private sector from 60% to a mere 15%.
Our private sector is struggling because the govt controls 60%. That means a lot of efficiency has been lost, there's little competition and when there's little competition, people in the industry lose their creative instincts, their efficiency and their quick thinking reflexes.
Obviously, that's not the only way to restart the S'pore economy but the most basic way of simulation is to liberalize the private sector and make it competitive again.
One way is to get the govt out of the private sector. They will have established rules so as to run the sector as an adminstration but the govt shd not control the private sector in a hands-on type of manner. -
the government is hoping that out of the many they targeted one or two will be successful. it will keep us going for a period.Originally posted by ctstalin:How come singapore wanna be a hub in everything?
Banking, pharmaceutical, finance, biotech, medical, education, airline transportation, shipping, eye-ops, gambling, prostitution, etc
jus to name a few
singapore garmen si siao si bo...
i guess that is their aim. -
Our shipping industry still offers competitive prices. Problem is staffing these companies with locals. No one wants to do this kind of backbreaking work.Originally posted by Medicated Oil:Shipping - already losing to a canal in Thailand
Aerospace - Was Good, Now going DOWN
Medical - Maybe
Banking - Just opening more foreign talent to the SPG in Singapore
Finance - With all the control and Obvious Intranspancies of GIC
Tourism - Where to go ? Do we provide any good service ???
Education - Good rip-off place for China student who want an free education
Aerospace - Think the industry here is doing well. Many companies which asked EDB for tax incentives and rebates were from aerospace.
Tourism - Our hotels are still reputable, as are the establishments within. Service at Orchard rd and tourist hotspots are bad though; and with only a shatec diploma available locally, it's gonna be tough to entice the more interested locals to enter the hospi industry.
As for the rest...no comments.
But it's good that we want to be the center for everything. Would you rather we follow others for everything? The gahmen needs a good blueprint for this ambition though. So far i haven't seen anything...just talk. -
The 2nd reason on why the govt shd withdraw frm the private sector is because once most state enterprises are either sold off or disbanded or nationalised, SMEs start-ups and established SMEs in Singapore can take over the burden.
SMEs and MNCs, then in a real open marketplace can then expand and they will need to hire more people for the expansion. Employment rates mostly probably can then go up and at the same time, these new people will also learn more on how to work in a more competitive environment.
There are a lot of benefits for both the country and its people once Temasek Holdings withdraws itself from the private sector. South Korea has done it to the certain extent and has benefited from it. The West has always had an more open private sector and also a more positive working culture and has benefited from it.
We don't have to copy everything from the West wholesale, but if we can install a more liberalized private sector- instead of the family run, monopolistic model we have now and also a more positive working culture, I'm sure Singapore and Singaporeans will enjoy so much more numerous benefits in the long run.
P.S As for the main topic: my reply would be very simple. We focus on what has been always been our main strengths and we deliver on that. At the same time, we will strive to be No. 1 or No. 2 in certain sectors and industries, new and old. So we will forget about those that we can't deliver and just focus on a few products and services that Singapore has always been good at.
Rather than just the norm of "Hit and guess" tactics of the PAP currently. -
Omg dragg 6664 posts liao...how u did tat??Originally posted by timothytsgsg:We are already behind them, my friend. While other countries' economics are chuggling to life- we are still struggling to get the engine started. PAP has no or little idea in simulating a dormant S'pore economy.
how come the garmen say the economy is improvin while the ppl say economy is still struggling....
wtf the garmen tryin to do??? -
They said the economy is improving coz their bonuses are improving! Do u think they really care how the people are faring?Originally posted by ctstalin:Omg dragg 6664 posts liao...how u did tat??
how come the garmen say the economy is improvin while the ppl say economy is still struggling....
wtf the garmen tryin to do??? -
Originally posted by timothytsgsg:They said the economy is improving coz their bonuses are improving! Do u think they really care how the people are faring?
So true!!! -
be a hub good wad... if singapore dun strive to better it's economy, then how?? a small country like us will drown if we dun have a competency to give us a cutting edge over the rest of asia...
-
Like I said, we are already lagging behind. Let's put it in this way: we are drowning as we speak.Originally posted by starblue:be a hub good wad... if singapore dun strive to better it's economy, then how?? a small country like us will drown if we dun have a competency to give us a cutting edge over the rest of asia...
Lemme raise an issue: South Korea's most famous worldwide brand is Samsung. Which is getting popular with the West and Asia as well.
Singapore's best brand is SIA- which is struggling to win over the Aussies regarding the Australia-US route from Sydney and Melbourne to San Francisco and LA.
Temasek Holdings is also viewed with suspicion from reputable financial magazines because Temasek doesn't have transparent business practices. Much of the stuff that happens in Temasek Holdings are shroud in secrecy. The people on the street has no idea how it works over there because the press here doesn't report it.
Singapore is struggling because our business practices, contary to what outside people think, is very opaque especially in state-owned enterprises. As long as the Lee family and its cronies continue to be head of the various govt boards and stated owned enterprises- Singapore will continue to struggle.
We must get the majority of GLCs out of the private sector and streamline the civil service system. -
Our freaking government only make good for their pocket money and not to we singaporeans!!!Originally posted by timothytsgsg:Like I said, we are already lagging behind. Let's put it in this way: we are drowning as we speak.
Lemme raise an issue: South Korea's most famous worldwide brand is Samsung. Which is getting popular with the West and Asia as well.
Singapore's best brand is SIA- which is struggling to win over the Aussies regarding the Australia-US route from Sydney and Melbourne to San Francisco and LA.
Temasek Holdings is also viewed with suspicion from reputable financial magazines because Temasek doesn't have transparent business practices. Much of the stuff that happens in Temasek Holdings are shroud in secrecy. The people on the street has no idea how it works over there because the press here doesn't report it.
Singapore is struggling because our business practices, contary to what outside people think, is very opaque especially in state-owned enterprises. As long as the Lee family and its cronies continue to be head of the various govt boards and stated owned enterprises- Singapore will continue to struggle.
We must get the majority of GLCs out of the private sector and streamline the civil service system.
I wonder how are we going to survive in next 10 - 20 years. Our freaking gov claimed that we were the best workers, but todate, instead they invited Fallen talent to run management..so are they trying to say we are fcuk type and lousy already. Isn't it?
Lau Goh said that our singapore products are popular in middle east and some where. Why are they not exploring into electronic products or whatever products and create our own brand, like what china, taiwan and korea are doing? Why must they use most of our reserve to invest in other countries where we don't even know what the fcuks are going on?
Freaking PAP Don't tell me that our labourer are more expensive as compared to Koreans.
I have always respect our home made products. Shimano invested in Singapore producing fishing reels and later shifted their manufacturing to Malaysia. And I was looking for Shimano Baitrunner 4500 that originally made from japan or Singapore. Finally, I found one that is second hand and was made in Singapore. After my close inspection on the reel, without hesitation I bought it.
I strongly believed that we singaporeans are educated enough and responsible enough to deliver good and quality product with pride. but our freaking government is not doing their job. Now, we are losing and getting farther away from many countries.
Why HDB estates are getting dirtier these days? Many people are fed-up with our government. Expensive water and electrical bills and Conservancy charges. They collect tonnes of our $$$ and pay themselves fat fat salaries. Freaking CB government -
What's wrong with trying to be number one?
-
nothgin wrong lets try to be number one in crime ratesOriginally posted by Lingos:What's wrong with trying to be number one?
-
I think you have a longgg way to go for that one.Originally posted by hisoka:nothgin wrong lets try to be number one in crime rates -
What are we number one in.........? have you travelled to many and far away places to see what the world are happening and developing now?Originally posted by Lingos:What's wrong with trying to be number one? -
HAHAHAHHAHAHA talking to someone who has spent the last 5 years overseas.Originally posted by Lowclassman:What are we number one in.........? have you travel to many and far away to see what the world are happening and developing now?
OMG.
THere is nothing wrong in trying to be number one. I didn't say Singapore is number one in anything.
Althought.. duty free shopping at the airport is pretty awesome. -
You mean you are the only one spent the last 5 years in overseas?Originally posted by Lingos:HAHAHAHHAHAHA talking to someone who has spent the last 5 years overseas.
OMG.
THere is nothing wrong in trying to be number one. I didn't say Singapore is number one in anything.
Althought.. duty free shopping at the airport is pretty awesome. -
Aerospace: Singapore's is in a hot competitive as being a regional airport hub. Its still too early to say its going down. As for SIA, it is also dealing with major competitors. The most prominenet is Emirates. But still SIA still have alot of business routes to go.Originally posted by Medicated Oil:Shipping - already losing to a canal in Thailand
Aerospace - Was Good, Now going DOWN
Medical - Maybe
Banking - Just opening more foreign talent to the SPG in Singapore
Finance - With all the control and Obvious Intranspancies of GIC
Tourism - Where to go ? Do we provide any good service ???
Education - Good rip-off place for China student who want an free education
Medical: As for being a interntional hub. It may be unlikely, but as South-East Asian regional hub, Singapore can still make it. The problem is still with medical research which is a key to having advance medical technologies to lead the medical science.
As for being a Chinese Medical hub, I think places like China and Hong Kong will have the edge.
Banking & Finance: Our banking sector could be Asian's best. But that's all.
Tourism: Our tourism has always produce good results of growth unless there's turbulence in our region. But Singapore is really too small, lacking in a lot of fun places lah.
Education: This is one of our best fortes. Afterall, we're use to training manpower. Having one of the best eductional systems in the world is a good image for us. But Singaporeans thinking is too straight. -
How to streamline the economy? Here we go..
1) Reduce and sell off many of Temasek Holdings' GLCs to local SMEs and MNCs as Temasek has shown that it is ineffective in controlling too many different companies in different markets at the same time. In addition, Temasek Holdings have encouraged a monopolistic culture in the private sector- which is always an unhealthy sign. Opening up the market will help in dissolving the monopolistic way that the private sector and the govt has always been run.
2) With less govt interference in the private sectors, local SMEs and international MNCs will be the ones who will be providing the services of the private sector. Meaning that, anyone who owes a business, no matter what nationality he is or how big or how small his business is will have a level playing field in terms of competition. That means that he or she, in order to compete will need to improve his/her products/commodities/services. This means he or she also needs to hire good people in order to accomplish that goal.
Aka, that means more employment.
3) Intense competition always mean good things for both the companies and the consumers. Prices will be cheaper, quality will improve, service will be better as companies will be locked in a battle to attract, retain new and regular customers or consumers. Unlike in a monopolistic environment where people will be retained regardless of performance, people working in a competitive private sector will have to be on their toes because of the intense working environment they are in.
If they work hard, they get their bonuses, they get their basic wage packages. if they work intenstively hard, they get even more bonuses and higher wages and they will need to work very hard to retain their top positions. It also works for those who underperform.
Those who lag will be paid less. They have less bonuses, less wages to bring home etc. Those who are nothing but disrupters, resisters, or extremely lazy will find themselves unemployed because the companies they work don't stand for such laziness. And of course to ensure that these people get employed again, it must be in such a way that while they don't get too unhappy, they also won't be let go when they are too old. Its best to let go of underperformers while they are still in their 20s or early 30s.
4) Local SMEs which succeed in the local markets will, in time, have chances to expand overseas. Singapore already have a few, like Tiger Beer, Creative, SIA, 77th Street and Breadtalk. But under a more liberalised private sector, and with a clear, transparent system imposed by a new govt, new more open SMEs will expand into other parts of Asia, even in the West and South America. These SMEs will be better brands than the current ones and if the new SMEs succeed, then automatically Singapore will also be in the limelight. In this case, it isn't the govt who gets all the glory- instead it will be the Singaporean citizens who will be the main ones as they are the ones who helped these SMEs succeed overseas.
5) A last thing to add: The people itself will benefit in many ways. I have mentioned it before many times. Nonetheless, I will go through it again.
i) More money in the pocket for the people as govt will transfer a huge percentage of the money earned from selling of GLCs back to the people. After all GLC money is taxpayers money. Taxpayers' money should go back to the people sooner or later.
So lower income families and lower middle class citizens will get the bulk of the money the govt will gain. Not just S$1000 for a whole year but S$8000 for the 1st 8 months(for the selected (really)lower income families) and S$3000 for the last 4 months.
ii) But as time passes, and as the liberalized private sector improves and the economy improves and with employment rates up, less cash bonuses or tax breaks will be handled out- especially to the richer middle class families. Of course, tax breaks will still be continued for the bottom 10% to the bottom 30% and cash handouts will be given. But people will be expected to work hard to get more bonuses. See Point 3.
iii) With also more money in their pockets, people will be encouraged to use the money to improve their lives. People always need money to spend: food, clothes, a HDB flat, kitchen appliances, luxury electronic appliances(LCD, Plasma TV, DVD player, MP3 players, DVD-R video camera recorders, 3G cellphones), fashion etc. In return, there will also be more retail shops- from the big brand names of both international and local fame to the mum-and-dad HDB cheap shops downstairs. All these means a better shopping experience for all as there are more choices for a more affordable price.
And did we say that families can now take a break for a holiday- with more money- as well?
Again, as I said, this is all in theory. IRL, things may or may not happen as described above. But again, we cannot say whether can it succeed unless we give it our best shot. And still it sounds better than the current PAP system where everyone tries to get by and yet are quite unhappy with both life in the office and at home. -
timothy, you talking about the performance-based salary scheme?? i thought that is being slowly put into place??? in place of seniority based wage system, a lot of compaines are moving towards paying by performance... there are ever more new and innovative ways to judge performance, all those test centres and such...
those older workers are not adapting well to this system i guess.. but for young people, it's more of a prospect for them, isnt it?? -
i didnt know seniority wage system exist. remunerations are hardly performance based now or in the past.
-
Hmm.. ya eventhough singapore.. this tiny country dont have much.. (water also from malaysia) at least singapore has to claim something to survive in the world is it.. Then it will be good if the world can acknowledge that singapore.. a tiny country exists.. at least we.. people here got money from investments for us to survive..
-
Maybe, maybe not. I dunno if Temasek Holdings have implemented them because they are so shrouded in secrecy. But I doubt their system is similar to the ones in the West.Originally posted by starblue:timothy, you talking about the performance-based salary scheme?? i thought that is being slowly put into place??? in place of seniority based wage system, a lot of compaines are moving towards paying by performance... there are ever more new and innovative ways to judge performance, all those test centres and such...
those older workers are not adapting well to this system i guess.. but for young people, it's more of a prospect for them, isnt it??
I may be wrong but I can't rule out the possibility that I may be right as well. Anyway I didn't want to write in detail regarding wages, bonuses and other related matters because it will get very complicated- and confusing to u guys.
I suggest you borrow the book "Winning" written by Jack Welch, retired CEO & President of GE in the US. There, you will find what I really mean. -
The reason on why I wrote that because I believed in a few main things:
1) Economic freedom and political freedom goes hand-in-hand. When there's creative freedom in your workplace, eventually you will transfer that into your home and your family. So if you feel more happier with your work in a new working culture and regime, you naturally wanna share with your family. And when you get more money from your bonuses from your company, you wanna share with your family.
And with more money in your pockets and wallets, you also sense a belonging to the country as it shows that it recognizes and appreciates your real talents, your hard work, the results you get and the effort. You score points and money not by kissing ur bosses' rear end everyday, but by your own hands. That, by itself, creates a lot of positive feelings from within.
From there, politics take over. Elections you will vote to show that you want a govt which can not only continue to run the country- not control- in an effective manner, but also care for the citizens of the country as well. Eventually most of your family members and your relatives will vote because they care as well.
2) Working culture in Singapore is still about the family-run, monopolistic culture. The bosses only know how to kiss up people they like and kick down people they dislike. People who are the best ass kissers are the ones promoted while those who prefer to be honest and work hard are relegated to the tiny corners of the office to rot.
It sucks the hell out of a job and is extremely de-motivating to anyone who works in such a culture. What's the point of working in such an environment? Sure the pay is good but if you feel that you hate your fellow colleagues, the bosses doesn't like you and you work for nuts and yet get nothing, then what's the point?
The PAP may not get the whole blame for this but let's face it, they let it happened and they let it fester by sweeping it under the carpet, ignoring it. They also don't make themselves look good by doing the same thing in the opaque glasses of their GLCs.
The working culture in S'pore usually sucks and that's why by liberalising the private sector, we mostly probably will see the 1st few positive steps in re-instating a more open working culture that motivates people more than the exact depressing opposite.
3) Just read Jack Welch's book, read some US-published magazines and read about the current business scenes in the US and around the world. See how much the people there and internationally have so much choices and so much economic freedom. Everytime in Newsweek and Time, I read about a new young prospective CEO from South Korea or China or the US and everytime I wonder why can't Singapore have one?
Why does it always be the same old boring person? I mean SWH is okay but he's no Steve Jobs. He isn't like Google founders either- or the Starbucks founders for that matter. Almost 98% of our multi-millionaires are about 70 to 80 years old.
Bill Gates is so much richer than these guys and he's only still 50! Roman Abramovich, rich oil magnate and Chelsea FC owner is only 37 or 38 and he has US$15billion.
The truth is this: can we ever find a real young CEO or a billionaire coming out from our system- both public and private- anytime soon? With such a rubbish obselete system, it will be forever before we find our Steve Jobs, Roman Abramovich, Jack Welch, Warren Buffett or the guys from Google.
But with a change in the system, in the private and even in the public sector, we might see a change- for the better. And for the better for Singapore as well.