6/28/2013
Building a Singaporean banking core
Since Tharman came out to speak about building a banking core of Singaporeans, very little has happened really. And from the few skimpy reports, I think the whole thing will be a wash out or at least a big hazy wayang. It fails from the word go.
Just read the comments and reports and what the banks are claiming that they will be doing and how happy they are with the 75% locals in their employ. And no one can escape the dreaded word locals. Yes, a Singaporean core is all about the locals, so they want you to believe. Now, this mischievous word is going to be used very mischievously to undermine the interest of Singaporeans. You all know what it means when someone utters the word local. It is about PRs more than about Singaporeans. People using locals to include Singaporeans and PRs are betraying the citizens of this island. And there is another easier way to betray Singaporean, ie hand the joker a pink IC and lo behold, he is a genuine Singaporean and no question asks.
It is comforting to hear Foo Mee Har urging the Govt to introduce further measures. She had been there and knows what is happening. ‘One way is to put in place a robust labour market test, whereby employers have to show evidence that they have exhausted the local candidate pool before they hire foreigners. The UK, Australia and Hong Kong already have labour market tests in place,’ she said. I say, put her in charge of a task force to build this Singaporean core.
If the Govt is serious in building a Singaporean core from Singaporeans born and bred here, there are many things that it can do. It is all about the intention and the will to do it.
We are all watching the show, be it a wayang or a serious attempt to promote the interest of Singaporeans. We will vote for it in 2016.
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24 comments:
We will vote for it in 2016.
RB
Vote for it?
Is there a choice called "A serious attempt to promote the interest of Singaporeans" on the ballot paper?
You can only vote for a political party who is ready to be govt. And strongest opposition Workers'Party is not. And its leader also has no ambition to be PM.
So how to vote for it?
The funny thing is that everyone gets his blood pressure up whenever the word "local" is used -we all know what it means when the banks/govt does not offer the detailed breakdown of (real) citizens and fly-by-night PRs. The not-so-funny thing is that these banks, following the lead of the govt, continues to be particularly hazy about this. Guilt speaks, I guess.
Locals include foreigner PRs, foreigners turned citizens and real local born and male serve NS Sinkies.
There were not enough of real local born and male serve NS Sinkies to vote PAP out in 2011.
And with the very low total fertility rate (TFR) below replacement level, what makes you think there will be enough real local born and male serve NS Sinkies by 2016 to vote PAP out?
OH ALL GODS...OH ALL GODS ..... SINGAPOREAN ALEADY HEART BROKEN. WHO TO TURN TO LAH!!!!!!!!!!!
It is good and loyal to believe your Leaders, political and others. But, to believe in Leaders that only talked and never delivered again and again makes the Believers a fool. Blind faith is pure stupidity.
It's very true. There are not enough real local Sinkies to decide an alternative party to PAP as govt.
And worst of all, there are also no alternative parties ready to be govt!
So it is also a chicken and egg problem.
If I were PM Lee, why should I worry in 2016, you tell me lah?
We had a Singaporean core in banking for many years.
Until the Pro Alien Party destroyed it.
The Pro Alien Party is also first class cock-up king when it comes to haze preparation since 1997.
Also the Pro Alien Party is still a pro-nuclear energy political party.
Do you want to trust these turkeys with nuclear energy?
Let me ask you a simple question. If one day, you ask a carpenter to fix a door and he ends up destabolizing the four pillars in your house b simply knocking away with his hammer.
Are you going to pay him extra if he successfully fixes the four pillars in your home?
This problem was create by people who believe in the idea of happy-go-lucky immigration.
Do you mean to tell me Chin Leng you really expect the SAME people who created these conditions to actually prescribe a solution?
Are you crazy Chin Leng?
If 60% Singaporeans believe voting PAPigs is good for country.
Then why not believe foreign banks will hire more Singaporeans?
Besides haze, better also ask our cock-up kings over at NEA about the uncontrolled radiation leaks at Fukushima.
What are Singapore's plan (ha! ha!) when the radiation starts washing up on our beaches.
Read the Right things!
-----------
Radiation Levels Skyrocket at Fukushima.
Japan Times notes:
The density of radioactive tritium in samples of seawater from near the Fukushima No. 1 nuclear plant doubled over 10 days to hit a record 1,100 becquerels per liter, possibly indicating contaminated groundwater is seeping into the Pacific, Tokyo Electric Power Co. said.
***
Tepco said late Monday it was still analyzing the water for strontium-90, which would pose a greater danger than tritium to human health if absorbed via the food chain. The level of cesium did not show any significant change between the two sample dates, according to the embattled utility.
On June 19, Tepco revealed that a groundwater sample taken from a nearby monitoring well was contaminated with both tritium and strontium-90.
http://www.zerohedge.com/contributed/2013-06-27/radiation-levels-skyrocket-fukushima
Hi Darkness,
Singaporeans have been crazy for a while and just starting to realise their condition. No amount of wayang can do away with the truth on the ground.
I just took the escalator and I was the only Singaporean inside. And I work in the MBFC.
Am I crazy not to know what is happening despite the bullshittings going around?
As for the radiation in Japan, the question is whether we are still importing products from Japan and how safe are they? There is an absence information of the radiation risk from Japan.
"There is an absence information of the radiation risk from Japan."
NEA says don't worry.
Japan will keep us updated and informed.
They also say we have many more N95 masks if the radiation levels starts rising.
It is always long after the horses have bolted and they are shouting loudly about closing the stable doors.
I hate wayangs. And you do not need someone to 'fool me hor' with more wayangs.
For me, it is not whether another party can be the Government next. The most important thing is getting rid of the current scourge first. In any case, no country in the world has disappeared with a change in Government or leaders.
In 1965, we did not have to worry about whether the PAP can Govern Singapore with barbers and hawkers standing for election under their banner. Our parents and grandparents were courageous enough to do so. They had the guts to take the risk and the wisdom to make a good judgement. The PAP of old was different. The PAP of today has changed beyond recognition. A change is necessary.
'The PAP of today has changed beyond recognition.'
- Unfortunately the voters are very daft. They will simply vote for pap again if they received some form of bonus dividends, upgrading proposal, angpow prior to any GE.
The banks are just going to do whatever they think is 'right' for their business. The government is going to duck and weave and evade the issue.
At the end of the day, it doesn't really matter. Nothing will change much.
Rb: //We will vote for it in 2016.//
What if it happens earlier?
Remember, the general election in 1991 occurred only 3 years after the 1988 GE ......
Strategically, the next ge can take place any time between Sept 2013 to Mar 2017.
They would not dare to call a GE any time sooner unless something drastic happens. The Party is destroying itself daily without anyone having to do anything. It's credibility is at the lowest and can only go lower.
Not one of them is cut to be a national leader to lift the party and country to the next level. Not even maintaining the same level. Everything is going downhill and no one can stop it, just like the decline of the American Empire.
Let me add, the only thing they are good at is destroying the Singaporean core. They are excelling in this.
What many local businesses are doing is following the advice of "corporate gods" like Jack Welch and Tom Peters.
Jack's done very ok for himself in retirement. His package is $2 mill per month, the use of the corporate jet, and 80k per month rental in NY plus other stuff I can't recall at the moment. "Neutron Jack" cut over 130,000 jobs at GE, and is known for his mantra to "destroy the corporation before someone else does". Create chaos.
Tom Peters, says similar things: Thrive on Chaos.
Singapore corporations have taken these "theories" to heart, and are practicing it unashamedly.
Of all the wailing and whining in this blog, no one has mentioned the umbrella of modern management philosophy that is going on here. What you get is all sorts of conspiracy theory and slings and arrows directed at the PAP -- who IMO will still be in power after 2016.
There is no more "job security". Even the FT's who replace the locals are there only as long as they serve the corporate interests. When they manage to implement algorithms and robots to replace these fuckers, out they will go in another round of "chaotic destruction".
I have a friend (Singaporean) who is a demigod software engineer living in Melbourne. Everytime he sells one of his packages to big business, 20,000-30,000 people lose their jobs and the companies share prices rise to new peaks, management smiles as the see the profit potential of their share options grow, and my enterprising Singaporean friend buys a few more houses and upgrades his cars.
So that's what is going on. If you don't understand what you are up against, you are not going to be able to adapt yourself to the changes, to do what you need to do -- whether it is to FIGHT the agents of change, or to go your own way and get on with your life in your own enterprise.
"Building a Singaporean banking core"
The statement is blunt admission that the current one is foreign core..
However that is too late, the world already start to unwind. Soon banking sectors will be impacted.
No more trillions to throw.
When you need (or rather want) more foreign talents, you can never build any Singaporean core, including banking core.
Because you can't have your cake and eat it as well in such cases.
But you can say "build a Singaporean core" just to wayang, if it cannot be realised.
Because some daft voters want to have wayang, without realising it is wayang.
So smart politicians will give what these voters want lah. After all does it cost anything to say "build a Singaporean core"? It is free, tio bo?
Apparently all these years after the crisis, positions such as CEO, CFO does not fall under this some called "core".
Ha Ha.
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