Can Philip See, RELEVANCE vs REALITY of Local Elderlies???

ShutterBug SG

Singapore aims to be centre of excellence for elderly
By Julia Ng, Channel NewsAsia | Posted: 16 March 2007 1907 hrs

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Singapore aims to be centre of excellence for elderly

SINGAPORE : Singapore wants to be a centre of excellence for the elderly, where Asians flock to for goods and services that enhance their golden years.

Philip Yeo is the man who has been tasked to lead the Silver Industry Committee.

And he believes that it is a multi-billion dollar market that has yet to be tapped.

In Japan, the Silver Market - currently the most developed in Asia - is estimated to be worth over US$700 billion by 2025.

Mr Yeo, who also chairs the Social Enterprise Committee, will be applying the same economic philosophy of making money, to support social causes.

His aim is to grow a vibrant social entrepreneurship culture in Singapore by 2010.

From helping ex-convicts find work to getting the mentally-ill employed in the open market, social enterprises are businesses with a social objective of helping the disadvantaged.

And they have proven to be a force to be reckoned with.

So for the man tasked with growing a culture of social entrepreneurship in Singapore, the challenge, he said, was how to get aspiring entrepreneurs and more companies to support the idea that being socially responsible makes good business sense.

Mr Yeo said, "The social enterprise is basically a social function but using the economic principles of how to encourage companies that make money to support social causes. It's not welfare. It's different from welfare. Welfare is you give, and that's it!

"Here, if a company is willing to set up a company, or people willing to set up a company, to be an entrepreneur - why not help them to be viable? Still pay their income, pay their rents, hire their staff and create jobs? But the key that underlines it is economics.

"My job has never been welfare. My job is doing economics - how to use your economic expertise, experience, and people - people who are an economic person but with a social heart. Don't just be a social heart. That's it.

"At the end of the day, you need money to help people. And you have to find ways to make money to continuously help people. First be a capitalist, then you can be a good socialist. If you are a failed capitalist, you cannot help people socially. That's reality."

Since 2003, the Ministry of Community Development, Youth and Sports has provided seed funding for 62 social enterprises, out of which 38 created some 300 jobs for the disadvantaged.

The Committee will be finalising its recommendations in the second half of this year.

Another challenge for Mr Yeo is to help Singapore court the silver dollar.

It is estimated that last year, seniors in Singapore spent US$1.2 billion on dining, entertaining and shopping, and US$300 million on travel and leisure.

In the next 10 years, the elderly here are expected to spend three times more than younger Singaporeans.

They are putting their money in services like tourism and healthcare, as well as assistive technologies like motorised wheelchairs.

Another sure-to-grow sector is lifestyle courses.

Mr Yeo said, "Why can't our polytechnics and universities run 24-hours, technically-speaking, to teach people how to blog, for example? It could even include tourists. If there are good courses here, people from neighbouring countries who are rich and looking for something to keep their minds active, they'll attend."

Wong Meng Meng, Deputy Chairman, Silver Industry Committee, added, "If we could have regional people coming in to do the course, it can also make it more affordable for Singaporeans to do the course. So we can create an industry which should make use of the number and resources of the people in the region so that our own people will benefit from it as well."

David Lim, Adviser, Silver Industry Committee, commented, "Some of the changes may be infrastructural. The way we live, for example, or the kinds of community that we build, houses that we live in ... that may change."

The Committee said it was prepared to fund innovative product ideas.

It is also inviting suggestions on how to grow the silver industry.

And backed by more than just ideas, its members believe, this is one industry that will create jobs and economic opportunities.

The Committee will be submitting its recommendations to the government in a year's time. - CNA/ms

maurizio13 SG

It's socially accepted norm that you work hard for 30-40 years, then retire in comfort to live out your old age, where you tend to be afflicted by old age diseases like arthritis, glaucoma, high blood pressure, etc. But everything in Singapore is so expensive, it robs the current young of their savings, which results in the future old not having enough to sustain their living through their old age. In addition, future cost keeps increasing, so unless you are very well off, you can never sustain your living in Singapore when you're old.

If we live our lives based on economic theories, we will soon be robots, working 24 hours to sustain the economy. Is it the economy that supports the citizens or the citizens that support the economy? One might say it's a symbiotic relationship, where both derives benefit from each existence. But the overriding rule is, without the people, there is no need for an economy.

weiqimun SG

Phil Yeo, for all the clout he has in the upper circle and intelligence other ppl makes him out to be, to me is firstly pompous, arrogant and smart alecky. his other `exploits' are all well documented already, so no need to hash out old granny stories here, but his latest remark about `walking into SIA' becos his royal highness alluded to him so many years ago shows all of the 3 traits i listed above.

all the orgs he ran so far shows scant results. in fact, he `bolts' before real results are attained.

all this `accelerated' moves that is now all common and pervasive that happens from the very top with PAP; ppl with little public service record suddenly are now perm secs, minister of states, etc. are frighteningly similar to a `darling' company in the way that the org is run. It hires only the very best from consultancy companies and well heeled MBA grads, most of them are paid ridiculously high salary and many gets promoted before they actually show results in the dept they work in. in the end, the company crumbled due to greed, corruption and impotent performances, that company is Enron.

The bigger picture in the way this country is run threads precariously close to the above. i am not suggesting we are there, but if we get incompetent fools who thinks he knows better, like a certain Phil, we are in clear trouble. Phil can enjoy his day in the sun, but there r bigger worries to be concerned with.