It all started when the local leaders were eyeing at those top
salaries for those top coporate leaders, bankers who took huge risk
managing their companies, they spoke of avoiding corruption as a
main excuse to pay that kind of astronomical top world class salary
even the world most powerful nations dare not dream of. Even the
top civil servants enjoy that kind of perks unseen in Singapore
history! From thence on the corporate world in Singapore took a
counter offensive in aping what the politicians have done to enrich
themselves. Most CEOs, company directors were seen aping it in a
very subtle way initially. They spoke about profit sharing, then
stock options and even outright shares allocation by the millions!
Now they help themselves to even 12 months bonus, not out of the
company's earning, even from the poor men's contribution! More SGX
listed company's top management teams were seen taking home more
money which the company could earn! Those companies' stock prices
are around 10 cents or below! The more pathetic ones were seen
inflating or overstating their company's earning even they are
running it at huge losses, the main aim is of course to fool the
naive investors so that they could vote them in during the coming
AGM and they could continue to enjoy the world class salary! Many
have even started to have some 'CREATIVE ACCOUNTING' to make the
company's earning looks good so that they too could perpetuate
their status.Who are responsible for all the apes in the corporate
world?
Top leaders blame the widening gap of the earning of Singaporeans
on SARS, this may be a very naive finger pointing act! In real
life, it is either they pretent not to see and know it or they are
relaxing in their castles and forget what is happening on the
ground.First let me touch on the flexi wages system. Since NWC
allows companies in Singapore to implement flexi wages, more
comapanies(whether they earn tons of profit or loss making ones)
are taking advantage and paying employees less even the companies
are prospering!Worst still even the most profitable companies are
taking advantage in trimming its work force in good time in order
to maximise their profit as the govt encourages it!The ministers
had their pay cuts restored long long ago but many poor employees
are still waiting for that day to happen! That smart minister who
pioneered 'outsourcing' has creating more monkeys lurking around
the heartland! More companies are closing their local operations or
tender out their jobs overseas to take advantage of the cheap cost
overseas resulting in more unemployment! More companies are
employing cheap foreign talents to replace their local "fallen
talents", do you want to blame it on the strong S$? Those hopefuls
who have ungraded to landed property or higher end property during
the boom years have landed themselves in a fix when they could not
even service their loans when their CPF contributions were cut or
when they are out of job! So the vicious cycle just earth bound!
Many desperate and irrational ones were seen taking their credit
cards roaming around the world for the last time and come back to
declare themselves bankrupt, that's why the number of bankrupts has
increased tremendously! The middle class is trying to look up but
most of their dreams are hampered by the 5% GST, the high petrol
tax and the high cost of oil prices, increasing ERP, transpotation
fares increases, PUB increases, property tax
increases...........for every dollar you spent, the govt has a
share in it! The money has made a definate U-turn back to the govt
coffer, the multiplier effect has gone zero,Temasek went shoping
around the world,Singaporean heartlanders squeeze their last dollar
out to do a bit of charity, hoping it will help their more
unfortunate fellowmen but it was hijacked by an orang utan and his
gang! Who really benefited the most during all these onslaughts?
Who are reponsible for the growing population of monkeys in the
heartland? Are they going to re-implement the Stop-at-two policy to
fix the monkeying problems? Read of more millionaires in the paper?
Yes, indeed there are more millionaires in Singapore, they are more
GRC, there are more ministers, there are more CEOs, company
directors, there are more ex-politicians sitting on more than one
company drawing astronomical fees, there are more top civil
servants..............and least of all there are more apes and
orang utans which add to this list! All in all to the politicians
and other top guns, the economy is doing very well indeed and they
are waiting most probably for the next pay rise, while the monkeys
on the heartland are lurking around looking for the smallest
peanuts on the ground to survive!
Those apes which imitate well are doing well in this concrete
jungle. Ah Meng and his gang has enjoyed the most luxurious life
style choosing the fruits he wants in the zoo and enjoying all the
perks that all the orang utans round the world envied, whereas the
monkeys in the heartland were suffering due to the diminishing wild
fruits and foliages on the ever changing Singapore landscape!
