GIC, a comforting change

Ng Kok Song, the 64 year old veteran Chief Investment Officer of GIC has retired. He is replaced by a younger Lim Chow Kiat, 42. This move is not only comforting but also reassuring. Song Seng Wun of CIMB also agreed that it is a good move to promote from within.

My beef is more than that. With the influx of so many foreign talents, some dressed up as Sinkies waving their pink ICs, it is so scary that many of them will sit in many strategic positions in govt or govt linked companies. I never like the idea of foreigners or new citizens taking up such important positions, managing Sinkie money and assets. I can be trusting and generous in thinking that human nature can also be good. But never be too trusting of strangers. Important positions are best left to true blue Sinkies. This is their home and this is where they belong and where their interests lie.

Let’s hope the Govt will take this point very seriously and not foolishly give away important and strategic positions to foreigners, including PRs and newly minted citizens. The Govt must be prudent and ever vigilance over national interests and the wealth and assets of Sinkies. It is also a way of developing our own human resource and talents, providing them the opportunities to be groomed into such positions.

The banking and finance industry is in a very pathetic state of development where locals will not make it to the top unless father happens to be boss man. So only foreign talents will be given the chance to try and experiment in top banking positions. This piece of GIC news is crucial and hopes it will be the new trend to use Sinkies for such strategic and important appointments in the private and public sectors.

Charity begins at home.