In praise of the Singapore Govt

Like it or not, love it or hate it, the Singapore Govt is about the most creative and innovative institution in the whole wide world when creation of value is concerned. Just look at the COE, it is really a piece of worthless paper, but the Govt can sell it to the motorists for $70k to $90k, just for the right to buy a car. The actual market value of a car could be less than half of the COE. The value created is unimaginable. Then there is the ERP, or electronic road pricing. The Govt just erected a few pillars, armed them with some electronics and the motorists just pay and pay, each pass costing a $1, $3 or more. With millions of motorists travelling all over the islands, with a multiples of such ERPs all over the island, the govt are printing money faster than the FED in the USA.

Now what else are they creating value out of nothing or creating extraordinary value from ordinary items? Public housing that was once available for the price of a song is now sold in hundreds of thousands and going higher and higher while the lease gets shorter and shorter. For the price of cheaply designed and constructed public flat with a 99 year old lease, they are selling to the people in terms of $200k, $300k, $500k and more. For the same sum of money, one could easily buy an estate 10 times or more with freehold land in many countries. Here it is like buying concrete containers built one on top of the other, and they sold them to the people as quality housing.

And they branded themselves as super talents, employed in public service and political appointments and marketed themselves to the tune of millions of dollars annually, making a mockery of the salary of the President of America. And what are the skills or abilities, responsibilities or achievements of the incumbents to deserve such remunerations? What did they do to be paid in the millions?

Who can create this kind of value out of ordinary people whose best achievements were mainly academic qualifications?

The shop keepers’ rent for a shop space, some as small as 50 sq ft, could be $10k or $20k pm or more. Everything that is of hardly any value, in the hands of these super talents will turn to gold, or at least the value of gold. Our Govt has the Midas touch, in creating value.

And who are paying for these artificially created values? Never mind, the important thing is the talent to create these values that no one else would be willing to pay for but to make Sinkies paying for them happily.

Say what you like, you must take your hat’s off to them. Wonder if they could create the same kind of value in other countries? Obama and all the ex Presidents of the USA have very poor skills in marketing themselves and the values of their jobs. The govts of the world should engage our govt to restructure their remunerations and sell it to their people.

Kopi Level - Green