12/10/2006

Singapore Incorporation or Singapore Inc

The term Singapore Incorporation was coined many years back as Singaporeans answered to the call to build up this country, nation building, sacrifices, tightening belt, national service, changing of mindsets to move into HDB flats, restraints in labour unrest and work stoppages. We have gone past those days and Singapore has prospered. We have GLCs and Temasek's list of Singapore owned companies to complement a huge bureaucracy of ministries. And today we boast of $200 billion of national reserves and invested to generate more wealth. And when the govt is running out of budget there are all the taxes to be raised from the people to finance whatever the govt decides is good for the people. Amidst all the wealth and well beings, a growing segment of the population is facing increasing hardship and are falling on the wayside. This brings to mind the wealth of the nation or of the people accumulated and invested over the years on one extreme and the poverty and hardship of Singaporeans on the other. What is the purpose of creating all these wealth for th nation while some citizens are crying for help? Who is benefitting from all these wealth? The nation or country is like a household and the citizens the members of the household. After the acquisition of all the durables, ie infrastructures, the savings and investments, the income or revenue generated must be for the citizens or family members to live a better life. The revenue from the country has been reinvested or ploughed back to the nation in many forms that benefitted the general public. Couldn't some of this be returned to the people who badly needed it to live their lives, to get by and be a little less stressful in their life struggles? Could the people see the returns on the govt's investments as a return on their investments and look forward to a little dividend annually, or bonus issues? Singapore Inc will make more sense when the people can see their welfare and well being, their relative prosperity being linked to how well our investments and revenue grows. For the moment the only people who are happy are the fund managers and those managing the investments. Not enough have trickled down to the poorer citizens. Choktong did briefly mentioned about a formula to share this wealth of the nation. Nothing comes from it after that statement. We have the Singapore Shares, the Economic Restructuring Shares etc which can be seen as moving along this direction. The people will be greatly heartened if a formula is announced that the people are genuinely the beneficiaries of the nation's wealth. Singapore Inc will then have a more tangible meaning and closer to the hearts of the average and below average Singaporeans. The people need to believe and see that they are really the co owners of this island state and that they will prosper and live a better life as the nation prospers. The sharing of the nation's wealth shall be carefully formulated and not given as a charity or in the form of ComCare. Such funds for the needy Singapore is a different issue and hopefully will be made redundant when the people can share the wealth of the nation in a respectful and systematic manner rather than to beg for it on grounds of poverty and hardship.

17 comments:

Anonymous said...

Hi Redbean, this subject is getting boring. We know the govt is doing it all for us and they are wise enough to do the right thing. So, please stop bitching and let the govt do the job. $200 billion in reserve is good for Singapore. It must be used wisely. Spending on trivials would be a waste!!!!!!!!!

abao said...

Its not that the Government is doing a bad job on accumulating such big reserves. Such reserves can help Singapore tide over in bad times and be invested to earn more money.

But the people don't see how that benefits them in daily life.

Anonymous said...

Redbean is not bitching. Citizens have a right to discuss such matters. Without such rights, this country is a facist country. Think the government is always right? Having a big reserve is good for Singapore? Obviously the anonymous comment above is coming from someone with no knowledge of economics. Another brain washed singaporean.

Back to the topic, it doesn't matter that the reserves ultimately does not benefit those singaporeans for their years of sacrifice, they would all be dead, those in the first generation beginning 1965. Those of us now deserve it even less.

The reserves is a sacred cow, and can be milked for a long time. Just hope it doesn't become another NKF.

If the reserves are used to buy assets overseas, and create jobs overseas, will singaporeans enjoy a dividend? Will we get jobs? We still need to rely on ourselves. Don't think about relying on PAP. None of their policies intend to target these areas.

So what if singaporeans become apathetic if they think they get nothing from their sacrifice? We only have ourselves to blame.

Anonymous said...

Anon above, where have you been all your life ? Singapore has been a fascist state for as long as it has been independent. Ask Chia Thye Poh, JBJ, CSJ.

redbean said...

i think one of the reasons why nkf was such a big issue is that it was driven by creating a huge reserve instead of using the donation to help the people who needs help immediately.

sounds familiar right? what is the point of bragging about our huge reserves when so many people are struggling to live day by day?

Anonymous said...

u think tis is boring issues?.i don think so.....it matter me alot.. our country,our children's future...our life....
DEC.10.2006 4;37pm,please speak for yourself,no offend.
SIGN...born in s'pore,a true singaporean.

Anonymous said...

If such issue matters that much to you, then why don't you go out and do something about it rather than whine in cyberspace ? What's that, I hear ? You got no balls because scared ken locked up under ISA and then no one to feed your family ? In that case, just shut the fuck up, loser.

redbean said...

hi all,

we are just talking and we all see things differently. like i said before, let's be friends or sparring partners and no need to get so heated up over a statement. we can agree or disagree and leave it as that.

if you want me to see from another point of view i can too. no need special effort.

Love said...

dec 11,2006 1.10pm,
u r not human..jaliat !!!!!

redbean said...

hi love,

this anonymous is just flaming. the way he carries himself, he is trying to say that he is a winner. i hope he can tell us how much of a winner he is?

over to you anonymous.

Anonymous said...

The anonymous guy is an bloody asshole who keep attacking Redbean.

This asshole keep implying this:
Not happy with gov => Change gov la.
Not happy with job => Job change la.
Not happy with reservist => been rich la.
Not happy with gov => Migrate la.
Not happy somemore => Jump down MRT track la.

Stupid asshole, please keep out of Redbean's blog if u don't like it here la.

Anonymous said...

You cannot take the heat, don't go into the kitchen lar. Don't like me to come in and comment, then don't allow anon comments lor. That way you only get anti-govt comments in here.

redbean said...

hi anonymous 7:54,

there are many decent people here engaging in cyberspace talk. you are welcome to join us. if you are the other anonymous whom i have invited to start a pro govt thread, please do so. and i promise you i will support you in saying pro govt views. is that ok?

this blog is not meant to be just anti govt talks as perceived by you. it can be either way depending on the bloggers. so please, say something good about the govt and i will help you to do so.

why, are you afraid that you are unable to put out a decent case for the govt? what are you so afraid of if you are so pro govt? it is not something to be ashamed of to be pro govt.

i am waiting to be enlightened.

Anonymous said...

Redbean, if you cannot and will not accept the way the country is being governed by the pap, then why don't you take your family and get the hell out of Singapore. We do not need complainers like you.

I am sure there are many prs much better than you who will willingly take your place in this country and contribute more than your constant complaints.

redbean said...

i don't know if you are a singaporean or a pr. i am a singaporean and this is my home.

like choktong said, pah si buay chow. where do you expect me to go to? here i know practically everyone, i can kpkb in the internet. people want to listen ok, don't listen ok. people agree ok, don't agree also ok.

and i have the pleasure to talk to so many people like you. isn't that nice?

Anonymous said...

Either you put up or shut up. No use complaining about things. If you think you are right, then stand up and be counted.

redbean said...

i stand up every day. what about you?