Why it might be difficult for the government to withdraw fro

last SG · 2005-10-09T08:53:11+00:00

Most foreign economic and political analyst agree that there was never a real attempt for the PAP to exit from private business....... Read on to find out w...

freeNeasy SG

Why it is difficult for government to withdraw from business?

The net is really full of info you never expect to find. I chance to pick this interesting article up which concerns our country. It's too long for me to put it here but here's the link.

Enjoy reading it and hope to hear your comments.

http://www.sfdonline.org/Link%20Pages/Link%20Folders/02Pf/glc_100202.html

crazy monkey SG

post the article here lah. Rolling Eyes

freeNeasy SG

By Tan Boon Seng, Feb 10, 02
See Singapore Government Directory (Interactive) for more detail

Government-linked companies (GLCs) appear to be playing a bigger role in the Singapore economy than ever before. With Singapore experiencing possibly its worst economic downturn since independence, the government is re-examining its economic policies.

The governments deepening and broadening involvement in private enterprise is among the policies being scrutinized by the governments Economic Review Committee. Some officials hint at a reversal of this practice but others appear to disagree.

A closer look at the issue suggests that reversing this policy is difficult. The governments withdrawal from business could hurt the employment, income and ownership interests of people closely connected to it

1. relatives of senior government leaders,

2. former senior government officials,

3. former senior military commanders,

4. current senior government officials, and

5. current and former ruling party politicians. The outcome may also hurt the governments efforts to co-opt its politicians from the private sector.

The Policy Debate

Minister of State for Trade and Industry Raymond Lim in November said that the government might in future do less of leading from the front. He also suggested the possibility of introducing competition law to address the dominance of GLCs. Mr Tharman Shanmugaratnam, Senior Minister of State for Trade and Industry, in December said that: What really matters for East Asia is a shift towards open, competitive markets, and away from the state-driven industrial policies and the collusive domestic networks that have led to low returns on investment.

However, Deputy Prime Minister Brigadier-General Lee Hsien Loong, who is heading the Economic Review Committee, has clarified the extent to which the government will withdraw from business. He said GLCs would continue to be one of the thrusts forward for the Singapore economy. His wife, Mdm Ho Ching, who is Director of Temasek Holdings and Deputy Chairman of Singapore Technologies, has shared her dream for Singapore Technologies to become a global champion, to make the seemingly impossible, a reality. Mr S Dhanabalan, Chairman of Temasek Holdings, has also made it clear that the government will not withdraw from businesses it deems it to have a strategic interest in. Mr Dhanabalan said the government also intends to be involved in businesses of a high-risk nature. These remarks were made even before the committees work had begun.

The Interests of People Closely Connected to the Government

1) Relatives of senior government leaders

That the government seems reluctant to withdraw from enterprise could be complicated by its potential effect on the interests of people closely connected to the government. DPM Lee and his father Senior Minister Lee Kuan Yew are at the helm of GIC, possibly Singapores largest GLC in terms of assets. DPM Lees wife, brother, and a few other relatives are also holding key positions in GLCs. While the situation is presumably a coincidental outcome of free market meritocracy, it could be a source of constrain as DPM Lee considers how to revive private enterprise in Singapore. The following table illustrates the situation:

Family Members Relationship To DPM Lee Present GLC Post
Deputy Prime Minister Lee Hsien Loong Deputy Chairman of GIC

Mdm Ho Ching Wife Chairman of Chartered Semiconductor, ST Engineering, ST Capital, StarHub, Deputy Chairman of Singapore Technologies, and Director of Temasek Holdings and SembCorp Industries (Singapore Technologies unit)

Senior Minister Lee Kuan Yew Father Chairman of GIC

Brigadier-General Lee Hsien Yang Brother Chief Executive of SingTel Group and SESAMi Inc (SingTel unit), and Director of Singapore Technologies Industrial Corporation and National Computer Systems (SingTel unit)

Colonel (Dr) Kwa Soon Bee Uncle (Mothers Brother) Managing Director of Jurong Bird Park, Chairman of Wildlife Reserves Singapore and Director of Keppel Land

Mr Edmund Lee Cousin (Fathers Brothers Son) Chief Executive of DBS Vickers (DBS and Singapore Technologies unit)

Mr Kwa Chong Seng Cousin (Mothers Brothers Son) Deputy Chairman of Temasek Holdings (Ministry of Finance unit)

Mr Ho Sing Brother-In-Law (Wifes Brother) Vice President of Singapore Precision Industries 2000 (Singapore Technologies unit) and Director of Advanced Materials Technologies (Singapore Technologies unit)

Mrs Lee Suet Fern Sister-In-Law (Brothers Wife) Director of SembCorp Logistics

Ms Lim Suet Boey Sister-In-Laws Sister (Brothers Wifes Sister) Senior Vice President of SembCorp Utilities

(continue next post)

freeNeasy SG

(part 3)

2) Former senior government officials

Though not an explicit policy, it has become an institution of sorts that senior government officials in Singapore move on to hold key posts in GLCs after their service in government. Former ministers in the PAP government are at least close political allies of Deputy Prime Minister Lee and his father, while former senior civil servants are trusted appointees of the government.

The following table lists a number of such people:

Former govt Official Former Government Post Present GLC Post
Mr Lim Kim San Minister for Defence Executive Chairman of Singapore Press Holdings

Mr S Dhanabalan Minister for Foreign Affairs Executive Chairman of DBS Group. Chairman of Temasek Holdings, Director of GIC

Dr Richard Hu Minister for Finance Director of GIC, Chairman of GIC Real Estate

Dr Yeo Ning Hong Minister for Defence Executive Chairman of PSA Corporation, Director of DBS Group and Singapore Press Holdings

Mr Lim Chee Onn Minister without Portfolio, Prime Ministers Office Executive Chairman of Keppel Corporation, Chairman of Keppel Capital, Keppel Land, MobileOne and Director of Temasek Holdings, k1 Ventures, Singapore Airlines, and NatSteel

Mr Goh Chee Wee Minister of State for Trade and Industry Group Managing Director and Chief Executive of Comfort Group, Deputy Chairman of NTUC Fairprice Cooperative, Comfort Transportation, Comfort Automotive Services, VICOM Nominee Investment, VICOM Inspection Centre, Comfort Properties, Deputy Chairman and Chief Executive of VICOM, and Chairman of NTUC Media, VICOM Assessment Centre, Eurocom Motors, ComTrucks, Barcelona Motors, Sinamex Car Rental and Leasing, Comfort Driving Centre, Comfort Courier Services, Suzhou Comfort Taxi, Xiamen Comfort Taxi, Zhengzhou Comfort Tour Bus Service, Comfort Nominees, Comfort Group Investments, Comfort Myanmar, Comfort Diesel

Mr Bernard Chen Tien Lap Minister of State for Defence Corporate Adviser to Singapore Technologies and Director of DBS Group

Dr Ker Sin Tze Minister of State for Education Managing Director of Dragon Land (Keppel Land unit)

Mr Ho Kah Leong Senior Parliamentary Secretary for Education Director of Comfort Group (Singapore Labour Foundation unit)

Mr Sam Chong Keen Political Secretary for Education Chairman of NTUC Denticare Cooperative (Singapore Labour Foundation unit)
Dr Wee Kim Wee President of Singapore Director of The Ascott Group (CapitaLand unit)
Mr Lee Ek Tieng Head of Civil Service and Permanent Secretary for Prime Ministers Office Group Managing Director of GIC and Director of GIC Special Investments, GIC Real Estate and Singapore Press Holdings
Mr J Y Pillay Permanent Secretary for Defence Executive Chairman of Singapore Exchange
Mr Philip Yeo Permanent Secretary for Defence Chairman of CapitaLand (Singapore Technologies unit)
Mr Teo Ming Kian Permanent Secretary for Defence Chairman of Singapore Technologies, and Director of PSA Corporation, TIF Ventures and T21 Holdings
Mr Tjong Yik Min Permanent Secretary for Communications President and Director of Singapore Press Holdings
Mr Er Kwong Wah Permanent Secretary for Education Director of SembCorp Marine and Jurong Engineering (SembCorp unit)
Mr Lum Choong Wah Permanent Secretary for Home Affairs Deputy Chairman and Executive Director of SAFE Superstore Holdings (SembCorp unit)
Mr Herman Hochstadt Permanent Secretary for Law Chairman of ECICS Holdings (Temasek Holdings unit)
Mr Cheong Quee Wah Permanent Secretary for Defence President of SembCorp Waste Management and Director of Singapore Aerospace Manufacturing (Singapore Technologies unit)
Mr Alphonsus Tan Chok Kian Permanent Secretary for Finance Chairman of Keppel Communications, Director of Keppel FELS Energy and Infrastructure
Mr Ngiam Tong Dow Permanent Secretary for Finance Director of Singapore Press Holdings and SLF Leisure Enterprises
Mr Sim Kee Boon Permanent Secretary for Finance Senior Advisor to Keppel Corporation, Director of Temasek Holdings and PSA Corporation
Dr Han Cheng Fong Permanent Secretary for Labour Director of Vision Century Corporation (JTC unit)
Mr Goh Kim Leong Permanent Secretary of Ministry of Law Executive Director of SembCorp Industries (Singapore Technologies unit)
Mr Wong Hung Khim Permanent Secretary for Community Development Chairman and Chief Executive of Delgro Corporation, Chairman of SBS Transit, and Deputy Chairman of Singapore Telecom
Mr Chee Keng Soon Auditor-General Chairman of Jurong Engineering, and Director of SembCorp Marine
Mr Liew Mun Leong Chief Executive of SISIR Chief Executive of CapitaLand and Deputy Chairman of Raffles Holdings and The Ascott Group
Mr Stephen Yeo Siew Chye Chief Executive of National Computer Board President and Chief Executive of Singapore Computer Systems (Singapore Technologies unit)
Mr Lim Jit Poh Chief Executive of National Productivity Board Chairman of Comfort Group and VICOM, and Director of International Factors, Delgro Corporation, and The Ascott Group
Mr Alan Choe General Manager of Urban Redevelopment Authority Director of Keppel Land
Mr Khoo Teng Chye Chief Executive of Urban Redevelopment Authority Group President of PSA Corporation, Chairman of Changi International Airport Services (PSA unit), and Director of Keppel Corporation
Mr Barry Desker Chief Executive of Trade Development Board Chairman of ST Marine and Singapore Network Services, and Director of Singapore Airport Terminal Services and SembCorp Logistics
Mr Lim Hock San Director-General of Civil Aviation Authority of Singapore Director of Keppel Corporation and Advanced Materials Technologies (Singapore Technologies unit)
Mr Ng Kiat Chong Chief Executive of National Productivity Board Director of Keppel T&T
Mr Liu Thai Ker Chief Executive of Urban Redevelopment Authority Director of Singapore Offshore Petroleum Services (SembCorp unit)
Mr Bertie Cheng Controller and Chief Executive of Post Office and Savings Bank Director of Singapore Petroleum Company (Keppel unit) and Singapore Technologies Aerospace
Mr Michael Yap Chief Executive of National Computer Board Chief Executive of Commerce Exchange (IDA and Venture TDF unit) and Director of NTUC Link
Mr Lee Yong Siang Chief Executive of Public Utilities Board Director of Keppel Hitachi Zosen
Dr Judy Lim Chief Executive of Tan Tock Seng Hospital and National University Hospital Director of Pacific Internet (Singapore Technologies unit)
Mr Goh Yong Hong Commissioner of Police Executive Deputy Chairman of Singapore Turf Club, Chairman of Singapore Pools, Director of Dragon Land and PREMAS International (CapitaLand Unit)
Ms Low Sin Leng Deputy Secretary for Trade and Industry Chief Operating Officer and Chief Financial Officer of SembCorp Industries, President and Director of Singapore Technologies Industrial Corporation, Director of Pacific Internet, Pacfusion.com, Singapore Computer Systems, STIC Investments, Singapore Mint, SembCorp SITA, Singapore-Suzhou Township Development, Sembawang Corporation, Sembawang Industrial, Bintan Resort Ferries, Bintan Lagoon Resort, Chairman of SembCorp Parks Holdings, SembCorp Energy, Singapore-Wuxi Investment Holdings and SembCorp Parks Management, and Deputy Chairman of SembCorp Utilities

...etc..etc (list is too long, please refer to url link)

freeNeasy SG

(part 4)

As with any business, state-controlled or otherwise, there is a tendency for managers at the top to appoint people whom they have shared a common past with. Since many past and present officials lead GLCs, these people tend to appoint other past or present officials to key positions in the GLCs. For example, Mr Liew Mun Leong was Chief Executive of SISIR from 1988 to 1992 when Mdm Ho Ching served as a Member of the SISIR Board. He is now Chief Executive of CapitaLand, the property arm of Singapore Technologies. Ms Leong Wai Leng was Deputy Chief Executive of SISIR from 1990 to 1993. She is now Deputy Chief Executive of Raffles Holdings, the hotel arm of Singapore Technologies. Mr Anthony Seah was a Division Head of SISIR from 1988 to 1991. He is now Chief Executive of PREMAS International, the property management arm of Singapore Technologies. Colonel Tham Kui Seng was General Manager of a SISIR subsidiary from 1991. He is now Chief Executive of CapitaLand Residential. Given the perceived shortage of talent in Singapore, Colonel Thams experience as the Armys logistics chief is presumably valuable in efforts to develop premier, high quality homes around the world. Colonel Kee Teck Koon was Director of SISIR from 1991 to 1993. He is now Chief Executive of The Ascott Group, the serviced residence arm of Singapore Technologies. With nine years in the Armed Forces behind him, Colonel Kee leads Asia Pacifics largest serviced residence company, building a luxury brand that projects an elegant, meticulous lifestyle that appeals to top executives and offering the ultimate refinement in served accommodation. Lieutenant-Colonel Ed Ng was General Manager of a SISIR subsidiary from 1990 to 1991. He is now Executive Vice President of CapitaLand.

If the government withdraws from business, a prestigious and lucrative destination for senior government officials would be taken away. Senior managers of GLCs are compensated at globally competitive levels. Many of them are also shareholders of the GLCs they manage. Non-executive directors are paid regular directors fees and are even given stock options, which can be substantial. The stipends are not pittance. They may lose out if the government gives up ownership of GLCs.

(continue in next post)

freeNeasy SG

(part 5)

4) Current senior government officials

Senior government officials are holding key appointments in GLCs while still in government. Some of them receive not just directors fees but also stock options. For example, Lieutenant-Colonel Boon Swan Foo, Managing Director of Agency for Science, Technology and Research, owned 224,433 ST Engineering shares, 2,005,000 ST Engineering share options, 28,800 Chartered Semiconductor shares, 14,250 ST Assembly share options, and 53,850 CapitaLand share options among other interests as of year-end 2000. Colonel (Prof) Lui Pao Chuen, Chief Defence Scientist of Ministry of Defence, owned 161,444 ST Engineering shares and 12,950 SembCorp Industries shares, among other interests as of year-end 2000. Mr Liow Voon Kheong, Assistant Managing Director of Economic Development Board, owned 80,000 stock options in Chartered Semiconductor as of year-end 2000.

The following table lists a number of officials who are at the same time directors of GLCs:

Government Official Present Government Post Present GLC Post
Dr Tony Tan Deputy Prime Minister and Minister for Defence Director of GIC, and Chairman of GIC Special Investments
Lieutenant-Colonel Lim Hng Kiang Minister for Health and 2nd Minister for Finance Director of GIC and GIC Real Estate
Mr Lim Boon Heng Minister without Portfolio, Prime Ministers Office Director of Singapore Airlines
Mr Matthias Yao Senior Minister of State in Prime Ministers Office Deputy Chairman of NTUC Income Insurance Cooperative
Mr Hawazi Daipi Parliamentary Secretary for Education Director of PSA Corporation
Mr Lim Siong Guan Head of Civil Service, and Permanent Secretary for Finance and Prime Ministers Office Deputy Chairman of Temasek Holdings
Mr Eddie Teo Permanent Secretary for Prime Ministers Office Director of ST Engineering and Chairman of ST Kinetics
Mr Tan Guong Ching Permanent Secretary for Home Affairs Chairman of ST Telemedia and ST Marine, and Director of ST Engineering
Mr Heng Swee Keat Permanent Secretary for Trade and Industry Director of Singapore Food Industries (SembCorp unit)
Brigadier-General Tan Chin Tiong Permanent Secretary for Foreign Affairs Director of ECICS Holdings (Temasek Holdings unit)
Mr Liew Heng San Permanent Secretary for Law Director of Raffles City, Raffles City Hotel (CapitaLand unit) and NTUC Income
Mr Lam Chuan Leong Permanent Secretary for National Development Director of SembCorp Industries
Mr Moses Lee Permanent Secretary for Health Director of DBS Group and Singapore Airlines
Mr Alan Chan Heng Loon Permanent Secretary for Transport Director of DBS Group and PSA Corporation
Mr Peter Ong 2nd Permanent Secretary for Defence Director of Singapore Technologies and ST Engineering, and former Executive Vice President of Temasek Holdings
Prof Tommy Koh Ambassador-At-Large Director of DBS Group
Mr Ko Kheng Hwa Managing Director of Economic Development Board Chairman of Pacific Internet, Deputy Chairman of JTC International, and Director of Singapore Leisure Industries and JTC Corporation
Lieutenant-Colonel Boon Swan Foo Managing Director of Agency for Science, Technology and Research (formerly National Science and Technology Board) Director of NTUC Income Insurance Cooperative, and Advisor to CEO of ST Engineering
Brigadier-General Tan Yong Soon Chief Executive of Urban Redevelopment Authority Director of SMRT Corporation and SilkAir
Mr Tan Gee Paw Chairman and Chief Executive of Public Utilities Board Director of Sembawang Construction
Prof Su Guaning Chief Executive of Defence Science and Technology Agency Director of Singapore Technologies Holdings and Singapore Cable Vision (MediaCorp, Singapore Technologies, and SPH unit)
Lieutenant-Colonel Chong Lit Cheong Chief Executive of JTC Corporation Director of Singapore Science Park, Venture TDF, Singapore Leisure Industries, Jurong Port, Ascendas, Abecha and JTC Consultancy Services
Dr Ngiam Tong Tau Chief Executive of Agri-Food and Veterinary Authority Deputy Chairman of Singapore Food Industries, and Director of NTUC Fairprice Cooperative
Mr Tan Kee Yong Chief Executive of Singapore Land Authority Director of SAFE Enterprises and SNP Corporation (Singapore Technologies unit)
Dr Cham Tao Soon President of Nanyang Technological University Chairman of NatSteel, Director of Keppel Corporation
Dr Jennifer Lee Chief Executive of KK Womens and Childrens Hospital Director of PSA Corporation
Mr Tan Tee How Chief Executive of National Healthcare Group Director of SembCorp Logistics and Chairman of Power Seraya
Ms Nancy Teo Chief Executive of Singapore Labour Foundation Director of Comfort Group, Pasir Ris Resort, SLF Leisure Enterprises, SLF Management Services, SLF Properties, SLF Investments, and VICOM
Mr John de Payva President of NTUC Director of SBS Transit
Brigadier-General Lam Joon Khoi Deputy Secretary for Finance Director of ST Aerospace and SembCorp Engineering
Dr Tan Kim Siew Deputy Secretary for Finance Director of Keppel FELS Energy and Infrastructure
Rear Admiral Richard Lim Deputy Secretary for Defence Director of Singapore Technologies Holdings
Mr Lee Chiong Giam Deputy Secretary for Foreign Affairs Director of NTUC Radio Heart
Mr Jaspal Singh Deputy Secretary for Transport Director of Singapore Telecom
Mr Gong Wee Lik Deputy Managing Director of Economic Development Board Director of SembCorp Utilities
Ms Chong Siak Ching Deputy Chief Executive of JTC Corporation President and Chief Executive of Ascendas (JTC unit), Deputy Chairman of Vision Century Corporation (Ascendas unit)
Mr Liow Voon Kheong Assistant Managing Director of Economic Development Board and General Manager of EDB Investments and EDB Ventures Director of ST Assembly and Testing Services and Chartered Semiconductor
Dr Kaizad Heerjee Assistant Chief Executive of InfoComm Development Authority Director of Commerce Exchange (IDA and Venture TDF unit)
Mr Goh Oon Tong Senior Director of Trade Development Board Director of Ascendas (JTC unit)
Mr Benny Lim Director of Internal Security Department Director of SembCorp Utilities
Dr Loh Wah Sing Divisional Director of Productivity and Standards Board Director of Novo Environment Technology Services (PSB unit)
Lieutenant-Colonel Goh Kok Huat Executive Director of JTC Corporation Chief Executive of Ascendas Land Singapore and Executive Vice President of Ascendas (formerly Arcasia Land and JTC International)
Brigadier-General Jimmy Khoo Director of Ministry of Defence and Defence Science and Technology Agency Director of Singapore Technologies Aerospace Engineering
Colonel (Prof) Lui Pao Chuen Chief Defence Scientist of Ministry of Defence Chairman of Singapore Technologies Dynamics, JTC Consultancy Services and Director of ST Engineering
Lieutenant-General Lim Chuan Poh Chief of Defence Force Director of Singapore Telecom and ST Engineering
Brigadier-General Rocky Lim Kim Choon Chief of Air Force Director of Singapore Aerospace Manufacturing (Singapore Technologies unit)
Major-General Ng Yat Chung Chief of Army Director of PSA Corporation, ST Aerospace Supplies, and ST Kinetics
Mr Khoo Boon Hui Commissioner of Police Director of Ascendas
Prof Bernard Tan Dean of Students in National University of Singapore Director of Keppel Corporation, Chairman of Keppel Group Cooperative Credit Union and Keppel Hitachi Zosen
Prof Chen Charng Ning Senior Director of Nanyang Technological University Director of SembCorp Utilities
Dr Tan Tin Wee Associate Professor and Centre Director of National University of Singapore Director of Keppel T&T
Prof Wee Chow Hou Dean of Business Administration in National University of Singapore Director of Neptune Orient Lines and SembCorp Logistics
Dr Phua Kai Hong Associate Professor of National University of Singapore Director of NTUC Healthcare Cooperative
Mr Lai Yeow Hin Chief Information Officer and Deputy Director of Economic Development Board Director of ST Assembly Testing Services
Mr Tay Kim Poh Chief Estate Administration and Property Officer of Housing and Development Board Director of NTUC Fairprice Cooperative
Dr Lee Seng Teik Consultant Neurosurgeon of Singapore General Hospital Director of NTUC Healthcare Cooperative

(continue next post)

freeNeasy SG

(part 7)

5) Current and former ruling party politicians

The situation could be further complicated by present PAP MPs holding key posts in GLCs. The non-executive directors receive not just directors fees but may also have shares and share options in the GLCs they direct. For example, Mr K Shanmugam, MP for Sembawang GRC, owned 70,000 SembCorp Industries share options and 30,000 Chartered Semiconductor shares, among other interests in GLCs as of year-end 2000.

The following table lists non-ministerial MPs holding senior management and directorship positions in GLCs:

PAP MP Constituency Present GLC Post
Mr Cedric Foo West Coast GRC Senior Vice President of Singapore Airlines
Mr Charles Chong Pasir Ris-Punggol GRC Senior Executive of Singapore Airlines
Mr Chay Wai Chuen Tanjong Pagar GRC General Manager of NTUC Fairprice Cooperative, Director of NTUC Choice Homes Cooperative and NTUC Radio Heart
Mr Chew Heng Ching East Coast GRC Director of Dragon Land (Keppel Land unit)
Mr Davinder Singh Bishan-Toa Payoh GRC Director of Singapore Technologies and Singapore Airlines
Mr Gan Kim Yong Holland-Bukit Panjang GRC Executive Vice President of NatSteel, Chief Executive of NatSteel Properties and NatSteel Resorts
Mdm Halimah Yacob Jurong GRC Director of NTUC Thrift and Loan Cooperative and NTUC Healthcare Cooperative
Ms Ho Geok Choo West Coast GRC Vice President of SIA Engineering
Ms Irene Ng Tampines GRC Senior Manager of Singapore Press Holdings
Mr K Shanmugam Sembawang GRC Director of SembCorp Industries
Mrs Lim Hwee Hua Marine Parade GRC Managing Director of Temasek Holdings, Director of NTUC Income Insurance Cooperative and Senoko Power
Mr Loh Meng See Jalan Besar GRC Senior Vice President of Singapore Airlines
Dr Michael Lim Pasir Ris-Punggol GRC Deputy Chairman of NTUC Childcare Cooperative
Mr Ong Ah Heng Nee Soon Central Director of Comfort Group and Singapore Post (SingTel unit)
Mr Sinnakaruppan s/o C Ramasamy Kreta Ayer-Tanglin GRC Director of SLF Leisure Enterprises and Family Leisure and former
Mr Wee Siew Kim Ang Mo Kio GRC President of ST Engineering
Dr Wang Kai Yuen Bukit Timah Director of Comfort Group, Comfort Transportation, Comfort Automotive Services
Mr Yeo Guat Kwang Aljunied GRC Director of NTUC Club Investment
Mrs Yu-Foo Yee Shoon Jurong GRC Deputy Chairman of NTUC Income Insurance Cooperative

(continue next post)

freeNeasy SG

(part Cool

The governments efforts to co-opt its politicians from the private sector
The PAP has often looked to GLCs for potential candidates as MPs, parliamentary secretaries and ministers. GLCs provide a uniquely effective way for the party to assess potential candidates outside of the civil service. Without being able to own businesses in the private sector, the ruling PAP government might find it more difficult to find people whom it has worked with and whom it can trust. The following table lists a number of present PAP MPs who were selected as electoral candidates after working in a GLC:

PAP MP Present Appointment Former GLC Position
Mr Goh Chok Tong Prime Minister Managing Director of Neptune Orient Lines
Mr Wong Kan Seng Minister for Home Affairs Manager of NatSteel
Mr Mah Bow Tan Minister for National Development Chief Executive of Singapore Monitor
Mr Lim Boon Heng Minister without Portfolio, Prime Ministers Office Manager of Neptune Orient Lines
Dr Lee Boon Yang Minister for Manpower Senior Manager of Primary Industries Enterprise (Primary Production Department unit)
Mr David Lim Tik En Acting Minister for Information, Communications and the Arts and Senior Minister of State for Defence Chief Executive of China-Singapore Suzhou Industrial Park Development and Executive Vice President of Sembawang Corporation
Mr Abdullah Tarmugi Minister for Community Development and Sports and Minister in-Charge of Muslim Affairs Associate News Editor of Straits Times
Mr Raymond Lim Minister of State for Foreign Affairs and Trade and Industry Managing Director of Temasek Holdings
Mr Yatiman Yusof Senior Parliamentary Secretary for Information, Communications, and the Arts Editor of Berita Harian and Berita Minggu (SPH unit)
Mr Mohamad Maidin Packer Mohd Senior Parliamentary Secretary for Home Affairs Assistant to Editor of Berita Harian
Mr Hawazi Daipi Parliamentary Secretary for Education Special Assistant Editor of Berita Harian (SPH unit)
Mr Seng Han Thong Assistant Secretary-General of NTUC Senior Associate Editor of Lianhe Zaobao (SPH unit)
Mr Zainul Abidin Rasheed Mayor for North-East CDC Editor of Berita Harian and Berita Minggu
Mrs Cynthia Lee Chief Executive of Bishan-Toa Payoh Town Council Senior Manager in Esmaco (CapitaLand unit)
Dr Ong Seh Hong MP Vice President of GIC
Ms Penny Low MP Journalist with Singapore Broadcasting Corporation
Miss Irene Ng MP Senior Political Correspondent of Straits Times

(continue next post)

freeNeasy SG

(final part)

The governments Public Sector Divestment Committee in 1987 recommended that the government withdraw from commercial activities where its role was no longer needed to avoid competition with the private sector. Since then, the government has reduced its stakes in several GLCs through public offering of shares. It has also selectively divested a few companies.

Yet its participation in the economy remains entrenched and has even become more widespread. The government continues to control many of the GLCs that are listed on the Exchange. New acquisitions, ventures into new businesses, and the corporatisation of services previously administered by statutory boards have expanded its involvement in the economy. The liberalization of certain industries previously monopolised by a GLC have resulted in only more GLCs.

Given that state involvement in business could be benefiting the government and the people closely connected to it, it is appreciable that even greater resolve would be needed this time for a policy revision.

Lowclassman SG

Read until I blur...blur..... So..... many are from PAP. It's really call a ''Singapore Inc.'' No doult. Maybe should call ''Singapore's PAP Corporation Limited.''

oxford mushroom SG

you forgot

Dr Lim Suet Woon Sister-In-Laws Brother (Brothers Wifes Brother) CEO of National Healthcare Group

Cindyfeh SG

Good job! A good list!

Looks like many of Singapore ministers are very very good time managers who can manage their busy minister jobs and being directors of companies at the same time.

If they as ministers can be directors of other companies, why can't we normal employees moonlight as directors when we are employed? Most employment contracts state that the employee cannot be a director of another company.

dragg SG

its nothing new.

most party members are directors of other companies. imagine how much they make a month. generally a director position easily brings in 10k.

av98m SG

Cronyism and Nepotism. Gotta love it. Smile

freeNeasy SG

It is really troubling to be thinking that our MPs and ministers are only interested in making more money for themselves. I dont understand how our past PMs could allow this sort of culture to permeate Singapore's politics.

All those meet- the- people- session conducted by MPs are now viewed by me as insincere.

dragg SG

it seems to be about money only nowadays.

BadzMaro SG

its ALWAYS about the money ~

Cindyfeh SG

especially in Singapore.

oxford mushroom SG

Two more for your list:

Dr Kwa Chong Teck Cousin (Mother's Brothers Son) Executive Director of National Dental Centre
Dr Lee Wei Ling Sister Director of National Neuroscience Institute

But they are the elite ma...they have the best genes in the nation....

av98m SG

Of course its all about money.

1. Not enought money, cannot attract people become minister or mp.

2. Not enough money, ministers and mps will turn to corruption.

The above 2 are the main justifications by the ruling party for the ridiculous salaries and benefits given to them.

While at the same time, we have to be "less fussy" and work for a pittance to compete with cheap outsourced labour from developing or 3rd world countries.

Its no wonder they say art imitates life. George Orwell's Animal Farm, anyone?