http://thestar.com.my/columnists/story.asp?col=insightdownsouth&file=/2009/4/25/columnists/insightdownsouth/3758368&sec=Insight%20Down%20South
Where money holds
sway
INSIGHT: BY SEAH CHIANG NEE
The
large salaries paid to the elite is pushing many Singaporeans
towards an unhealthy chase for the
dollar.
THE trial of a high-living Buddhist monk who owns three properties
and loves luxurious cars has shown how far Singapore has fallen
under a money culture.
It is
the latest of an ongoing debate whether this affluent city is
over-paying its leaders in government, big business, big charities
and religion.
Even priests and monks, who should be the last people to be
involved, are not spared, the latest being one of Singapore’s top
Buddhist monks.
He is Venerable Shi Ming Yi, who ran a popular and successful
Buddhist hospital and medical centre for the poor.
As CEO and chairman of Ren Ci Hospital and Medicare Centre with
assets of S$47mil (RM112mil) , largely on public donations, he was
paid a whopping annual salary of S$192,000 (RM461,000).
The saffron-robed monk, aged 47, is facing charges over an
unauthorised loan from Ren Ci’s coffers to his ex-personal
aide.
He is accused of embezzlement and fraud, which are serious charges.
But for a monk who has taken the vow of worldly abstinence, it is
more like a bombshell; and for Buddhist followers, too.
The furore is even being played out outside the court-room, focused
on his CEO-type salary that allowed him to live a lavish lifestyle,
which critics say is unbecoming of a monk.
He had spent large amounts on branded goods like Montblanc and
Louis Vuitton and stays at luxury hotels such as St Regis and The
Regent, charged to credit cards.
Singaporeans have learned that Rev. Ming Yi owns three properties
in the posh Orchard area as well as an expensive car (including a
BMW in Australia two years ago.).
“All this is totally against Buddha’s teaching,” a critic
exclaimed.
Another blogged: “Any monk that takes money as his private or
personal income should be de-robed. Monks have taken a vow to give
up material wants except for basic needs.”
The Christian faith, too, is not excluded by society’s grip of the
money culture.
The majority of religious leaders of all denominations live
frugally on moderate incomes.
The big organisations involved in large fund-raising could provide
the exception.
A few are paid like CEOs because their efforts rake in large
amounts of money from followers.
One of the richest is the New Creation Church, known for its
fund-raising abilities, and was reported to have paid one of its
leaders more than S$500,000 (RM1.2mil) last year.
The church had an income of S$55.4mil (RM133mil) and total assets
of S$143.36mil (RM344mil) last year.
In just one day alone it pulled in S$18mil (RM43mil) for the
building of its new premises.
Singaporeans are reminded of the notorious National Kidney
Foundation charity scandal four years ago caused by its brilliant
fund-raising CEO.
T.T. Durai was the very person who had helped it grow into a
S$260mil (RM625mil) charity to provide subsidised dialysis
treatment for needy patients.
Durai’s salary of S$600,000 (RM1.4mil), which was hidden from the
public, was considered excessive by many of its two million
donors.
He lost the job in 2005 when he was found to have spent the
charity’s funds on luxury items (including a gold tap for an
office) for personal use. He also gave misleading information to
lure more people to contribute.
Recently, a public outcry arose when government-controlled
Capitaland, South-East Asia’s biggest property company, gave its
CEO Liew Mun Leong S$20.52mil (RM49mil) for 2007’s enlarged
profit.
The timing was terrible; the company’s profits were reeling.
The
debate is whether quality leaders in charity and religion – and
politics, too – should be paid similar to a top executive of a
profitable private venture.
The difference, of course, is that the money is raised from the
public, based on trust that it is for a collective purpose.
Rev. Ming Yi’s defenders, however, argue although he is a monk,
where a high salary appears ridiculous, he is also chief executive
of a large, well-run, hospital and medical centre.
“So what’s wrong about his high pay?” one asked.
Others say today’s Buddhist monkhood, like others, is different
from ancient times when monks lived an austere life within high
walls.
Rev. Ming Yi told the court that “we live in a modern world ... no
longer like what it was in the past”.
Asked to elaborate, he added: “If people earn more, they will spend
more.
Many religious people, not just myself, are very different
now.”
Unfortunately not many people’s expectations have changed.
Most Singaporeans believe that when they donate money to a
religious organisation or a charity, it is aimed at helping people
(or troubled souls) in need, not to provide comfort for a few
leaders.
The
debate about Singapore’s spreading money culture - with a per
capita GDP of US$48,900 (RM175,000) - has intensified since the
economy plunged and sent many workers into
hardship.
People
have become more sensitive about the ruling elite – whether in the
government, civil service or a large corporation – being paid
excessively more than the average, middle class person.
Ironically, the unpopular elite pay policy is pushing many
competitive Singaporeans towards giving wealth accumulation top
priority.
People are lured to an unhealthy chase for the dollar.
“They
see materialism as a god. Money can do anything, even deciding what
is right or wrong,” remarked a semi-retired
professional.
On the same day that Rev. Ming Yi was testifying, the manager of a
shipping firm was fined S$1,200 for vandalising his neighbour’s
flat.
The amount did not faze the apparently well-to-do man, who told a
reporter: “After all, I can afford to pay. I spend S$4,000 on
karaoke in one night. What’s S$1,200?”
Who says money doesn’t talk?
--------------------------------
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