In the past
there were many big local names, heading the local banks, Ng Kee Choe,
Elizabeth Sam, Theresa Foo, Wee Cho Yaw, the late Lien Ying Chow, late Lee Seng
Wee, Lee Hee Seng, Peter Seah, etc etc. Today there is only one Singaporean left
helming a local bank, and he is lucky that he is not replaced by foreigners.
What happened to all our banking talents? No more, cannot find, all got no
skill sets?
Who is
responsible for this mess? This thing did not happen overnight. Someone is
sleeping or deliberately let it happened. This is not only a national shame, it
is undermining our talent pool in banking and finance. No one responsible for
it? Cannot name anyone or else no one would want the multi million dollar job?
Now you know
why I said I like Yaacob? He is rolling out a programme to train 1,200 IT
professionals from 160 that they are producing. (Correct me if I get the
numbers wrong). Yaacob wants to build a Singaporean core in IT. Never mind, don’t
ask him why we were not training IT professionals and why he is cramping this
training programme. It is not his fault.
No one knows whose fault, cannot mention one.
Good job
Yaacob. Please train more Singaporeans quickly before the whole industry landed
in foreigners’ hand and all our infocomm security put at risk, in the hands of
foreigners. Quick, quick, not much time left. And no need to go to Parliament
to kpkb why got no IT talents in Singapore, no banking and finance talents, not
enough doctors, no Singaporean talents to be politicians, and not enough of
local academics.
Just do it.
Get the butts off the chair and start working.
For DIM ICT, Singapore only believes in management know-how and looks down on technical knowledge-expertise . Worse is Singaporeans are not even given a fair environment to work on-the-job nowadays with foreign IT enclaves . Hands-On Green Matters
ReplyDeleteTraining Singaporeans to do IT jobs is one side of the coin. The other side is the salary paid to these trained Singaporeans. If an IT expert from India accepts half the salary expected by a Singaporean equivalent, guess who will get the job? As for the Banking Industry, Singaporeans through 50 years of mollycoddling have become so kiasu and kiasi that they are unable to see further than their noses. How to run a bank when you are so timid and frighten to take risks???? Leave it to the Indian, they will always be on the drivers seat in the banking world. Honestly they are better suited to the job.
ReplyDelete
ReplyDeleteVery very simple! Very very simple!
If the many PAST big local names, heading the local banks like Ng Kee Choe, Elizabeth Sam, Theresa Foo, Wee Cho Yaw, the late Lien Ying Chow, late Lee Seng Wee, Lee Hee Seng, Peter Seah, etc etc had the required skill sets, you think they will be replaced by FTs?
Currently, our local banks enjoy high ratings and among the BEST!
Don't play play.
Due to FTs? Due to FTs?
Ha ha ha..............
Rb // No one knows whose fault, cannot mention one.//
ReplyDeleteHow long can the wealth ( and foundation ) built in ( the first ) 2 decades last?
3 decades of running down this wealth ( and foundation ) and ( it ) makes one wonder how long can it last before cracks turned into broken dams and the flood sweeping away whatever along the way?
Rb // Good job Yaacob. Please train more Singaporeans quickly before the whole industry landed in foreigners’ hand and all our infocomm security put at risk, in the hands of foreigners. Quick, quick, not much time left. And no need to go to Parliament to kpkb why got no IT talents in Singapore, no banking and finance talents, not enough doctors, no Singaporean talents to be politicians, and not enough of local academics.//
ReplyDeleteThe beginning of the end has long began .....?
The hope of some beans that there can be some reversal of the unmistakable decline is not meant to be ......?
The general trend of incessant and unabated slide is unstoppable, regardless of Mt Buttock's ( outcome )?
Rb // Who is responsible for this mess? This thing did not happen overnight. Someone is sleeping or deliberately let it happened. This is not only a national shame, it is undermining our talent pool in banking and finance. No one responsible for it? Cannot name anyone or else no one would want the multi million dollar job?//
ReplyDeleteIn 20 years time, Sinkieland and the whole of AEC ( Asean Economic Community ) with a population of about 700 million by 2036, will not only be FAR behind Japan's GDP whose population is expected to shrink to about 80 million by 2035 but also ECLIPSED by South Korea's GDP whose population will hover around 50 million?
Given current life expectancy, some oldies may live to see this day .....?
The best and better men ( and women in sinkieland ) need to be injected but NOT to be ......?
That's the ( additional ) real hardtruths ( in sinkieland )?
The "seeds" of decline were planted long ago and the "TREES OF DEMISE" are already "BEARING FRUITS" for all to see ( unless your eyes PASTED STAMPS )?
$120 Millions budget for 1200 eligible, thats $100,000/student. These "Singaporean" selected must be so very lucky.
ReplyDeleteHuh?
Delete$100,000 EACH to train one ICT "SkillsFuture" "PROFESSIONAL"?
Then the "$500 SkillsFuture grant" train what "future skills"?
Learn 18-month old pre-school nursery "abc"?
One GongKia wrote previously "$500 training grant" course can help oldies learn new skills and "Huat"?
Pls pray tell which "$500 course" is that and what skills can be learnt for $500 to enable oldies to "Huat" after one such "$500" course?
A lot of oldies queuing up neck long long already .....?
ReplyDeleteyou like Yaacob.........
many many people oso like Yaacob........
when Yaacob speaks people listen.........
yes, Yaacob is the man.........
cheers........
I know, I know, go learn how to play toto and 4D. Huat ah!
ReplyDelete/// In the past there were many big local names, heading the local banks, Ng Kee Choe, Elizabeth Sam, Theresa Foo, Wee Cho Yaw, the late Lien Ying Chow, late Lee Seng Wee, Lee Hee Seng, Peter Seah, etc etc.
ReplyDeleteToday there is only one Singaporean left helming a local bank, and he is lucky that he is not replaced by foreigners. ////
Did this happen overnight?
Or did this happen while LKY was still alive?
So what exactly did our "Founding Father" founded?
Rb //Today there is only one Singaporean left helming a local bank, and he is lucky that he is not replaced by foreigners. What happened to all our banking talents? No more, cannot find, all got no skill sets?//
ReplyDeleteThere is some critical ingredient "missing" in the system or "intentionally or unwittingly" removed from the system since the 80s?
Just like the human body system?
When there is not much metabolism in the human body, it withers ( and dies off ) prematurely?
When 3 banks (with 3 IT departments) merge into one bank ... what happens?
ReplyDeleteStill need 3 IT departments or not ah?
Develop local Singaporean IT talents for what ah?
Who is going to hire them?
The Alien IT Manager?
The Alien CEO?
Our own PAP government?
If we vote for a pro Alien government;
where are the jobs for Singaporeans going to come from?
Eyes pasted stamps garment?
DeleteOld man said he left behind the "best team" he could assembled. .....?
The "best team" is from tier 1, 2, 3, 4, 5, ......., n-1, n?
Oops ...... spelling typo ....
DeleteShould be .....
" ....... he could assemble ...? "
1) "The best team" that forgot to train ICT talents?
Delete2) "The best team" that forgot to train financial industry talents?
3) "The best team" that up to 2004 forgot to dismantle and abolish "Stop at 2 policies"?
1) So NOW this leads to ACUTE shortage in ICT industry?
Delete2) DEARTH of top financial industry professionals
3) This one no need say liao ...... look around ...... 24-7-365 can see, smell, cringe. ....? So many aliens around. ...? Not enough babies lor .....?
/// Good job Yaacob. Please train more Singaporeans quickly before the whole industry landed in foreigners’ hand and all our infocomm security put at risk, in the hands of foreigners. ///
ReplyDeleteRelax.
Maybe we should wait until $100 million dollars disappear from one of our banks?
Maybe another Committee of Inquiry (made up of more Alien experts)?
If you think Singaporeans are so trustworthy and reliable ... why do we hire Gurkha soldiers for the really serious security jobs?
When Yaacob was briefing the Parliament the house was practically empty. Probably less than 15 MPs present.
ReplyDeleteI can only shake my head in disbelief when I read in yesterday's freesheet that
ReplyDelete"And to woo mid-career employees into switching to the infocomm sector, the capacity..."
I know of many friends in ICT who have been retrenched and unable to find new jobs. BTW, they are proficient in their work.
If indeed we do have a shortage in manpower in ICT, why are they having such a hard time find jobs?
Harlow anon,
DeleteThere are 5 types of unemployment:
1) Cyclical;
2) Structural;
3) Frictional;
4) Seasonal;
5) Classical.
Which type your frens belong to?
Btw, sinkieland has one of the world's "lowest" unemployment rate but also "a very low" LFPR ( labour force participation rate, abt < 60%? )?
DeleteWhat does that imply?
Assuming indigenous born sinkies of 2.5 million in the working age group, close to about 1 million ( for some reasons ) are NOT WORKING and not in the "unemployed" ranks bcos they are not actively seeking for "employment" ( and these 1 million is therfore NOT considered unemployed )?
If measured in total working population divided by total population in working age group, the "actual unemployment rate" is more than 30%?
Why the "best team" left behind by old man is not doing much to "coax or incentivise" the 1 million working age sinkies who are not working to RE-JOIN the labour force one way or another?
About 1 million sinkies of working age NOT WORKING in "labour-scarce" sinkieland?
Are you kidding?
ReplyDeleteAnonymous 11.56am......the answer is......
None of the above!
Ha ha ha
DeleteThere is one other type of "unemployment" but not usually "considered acceptable in the context of a nation state"?
It is "UNIQUELY" called "Pro-ALIEN UNEMPLOYMENT"?
"Now you know why I said I like Yaacob? He is rolling out a programme to train 1,200 IT professionals from 160 that they are producing...Yaacob wants to build a Singaporean core in IT."
ReplyDeleteTrain only what. Build only what. But if got no job for them, got use or not?
But I like Yaacob for another reason. With his training progamme to build a Singaporean core in IT, he is trying very hard to convince daft Sinkies to help PAP win even bigger in the next election.
Pity the opposition. Pity Chee Soon Juan.
Hi Gilbert,
ReplyDeleteI sincerely hope you could help me as I’m at wits end.
I’m 48 now and been out of job since last August.
Worse is my new house is coming and I am penniless.
I’ve been trying to get a job and only a handful had requested me for an interview but eventually it’s always they want younger staff or my salary is too high which is not true because of my experience in IT - I’ve only ask for $2.3K which is around the average.
I’ve been to numerous job and employment agencies as well and all to no avail..it’s very disheartening.
- See more at: http://www.transitioning.org/2016/04/13/48-year-old-it-specialist-jobless-since-august-last-year-with-internetphone-cut-off/#sthash.36HIFctD.dpuf
Yaacob,
No need to train so many lah. Just go and get these unemployed citizens, all trained and experience and ready to work. There must be a few hundreds out there looking for employment.
33-year-old local Indian with masters degree jobless for 6 months and applied for 500 job vacancies without avail
ReplyDeleteJobless 38-year-old lady PMET earned $5500 before but willing to settle for $1400 – $1800
Jobless 41-year-old diploma holder facing challenges in the job market due to contract work conditions
49-year-old marketing professional jobless for half a year and survive by doing hourly-rated telemarketing job
34-year-old jobless engineer PMET took a year off to care for sick mum and trying to stay positive
41-year-old jobless Singaporean with masters degree working as GrabCar driver after losing business to PRCs
40-year-old jobless PMET feeling discouraged and suffer from low self esteem
41-year-old jobless Singaporean with BA from NUS works as odd job worker in order to survive
32-year-old jobless PMET ambivalent about getting a private degree
36-year-old lady PMET with 15 years of finance experience jobless for 18 months -
See more at: http://www.transitioning.org/2016/04/13/48-year-old-it-specialist-jobless-since-august-last-year-with-internetphone-cut-off/#sthash.36HIFctD.dpuf
dbs gupta raked in a cool s10m last yr..
ReplyDeleteYakCock I-bluff-him
ReplyDeleteNo need to train.
Plenty of experienced, operationally ready IT professionals who are unemployed by over liberal Alien immigration policies.
Is it the lack of training that is the problem?
Or is it the lack of opportunities due to discrimination against Singaporeans?
Yak, yak yak.
Cock, cock, cock.
Yak cock, sing song.
Bluff who?
I also like yaccok the prebiotic drink..
ReplyDeleteMake me go toilet regularly...
I think Dr. yakult strategy and plan make sense. Hope the same can apply to the finance industry by Heng as well.
ReplyDeleteTalking about "strategy", in Chinese astrology, hot months are not favourable for "those born in monkey years" but good for those "in tiger years"?
DeleteSo in Mt Buttock's coming CHEE BY-election, who has ( the ) advantage?
In the coming "BIG BUTTOCK'S" election, who will be "screwed" ( more )?
Too much yakult can give you diarhea or low sai. Be careful. Too much of a good thing can be bad. Same with education.
ReplyDeleteWeather so "HOT" now, today "hit 36"?
DeleteYes?
Should drink more cooling drinks like Ya ( Juice aka ) Cork ( Cork Nut Juice )?
ReplyDeletePlease kindly note that Mr Yaaacob is not a BANK!
Talk is easy. Execution demands competency. Does he have it?
ReplyDeleteRb //Just do it. Get the butts off the chair and start working.//
ReplyDelete"Just do it"?
No consideration for the "consequences and fallout"?
Another Chee BY-election in the offing?
Sin Universities rated top class in the World. Churned out lots of foreign and local top class graduates; foreigners graduated from Sin Unis get employed, native graduates from the Same Unis have difficulties finding jobs.
ReplyDeleteIf the Local Top Class Tertiary Educated cannot get jobs, what's there to train them?
SIN NEEDS A PERSON OR SOME WISE PEOPLE LIKE RB TO TRAIN OR TELL THE STUPID CABINET TO TAKE CARE OF THE SINKIES FIRST.
IF SINKIES STOMACHS ARE WELL CARE FOR, THEY SHALL TAKE CARE OF SIN.
patriot
Since the Neolithic Revolution in 9500 BC, there is no exception to the ( eventual ) demise of any social hierarchical structure where the elites ownselves care for ownselves, at the exploits of the masses?
DeleteHistorically, the elites leave no stone unturned to hang on to their special privileges and ENTITLEMENTS?
In history, the elites spared no one who crossed their paths to fight for " a level playing field "?
Typo .....
DeleteShould be
"..... the elites left no stone unturned to cling on to their special privileges and ENTITLEMENTS?"
Where is the motherfucker angongkia today? How come no comment from him?
ReplyDeleteUncle Patriot,
ReplyDeleteWhat do you call a country when it does not have political democracy?
And economic democracy?
And social democracy?
ReplyDeleteCan i say we have
Sincracy?
patriot
World heat up b cos of US.human who r smart but not so smart.
ReplyDeleteRB, haven't you noticed that since independence, top position in almost all local companies in important sectors such as transport, media are increasingly political appointees? Not to mention banks which control the flow of money? Capable men,(and I refer to the species) who rise based on capability often are independent minded and thus not beholden to those who rule. Why is it no surprise that capable bankers are going the way of the Dodo? Hunted and replaced by more malleable foreign mandarins who owe their positions to someonelse?
ReplyDeleteOf course, this substitution will become an problem eventually, as talent is replaced by loyal subjects, our institutions can become frozen in the face of change. Which is why we are starting to see increasing problems everywhere we look. MRT, hospitals, and yes the financial sector at some point.
The current system has "witnessed" significant decline and given as it is, the trend can only become more accentuated and accelerated, not likely reversed or even lessened?
DeleteHistorically, it used to be a gradual process for many other nations?
However, this is uncertain given current global interconnectedness and interdependence?
The downward fall, meanwhile, is likely to continue like clockwork, and when it would become a ( glaring ) problem remains to be seen?
But in the longer term, history has time and again shown that a system running on such modus operandi is unsustainable and would likely hit a roadblock as early as 2020?
When a system is on a wrong footing, whatever scheme rolled out is either temporary or futile or ineffective?
Parliment attendence r not important
ReplyDeleteBut swearing in time all can attend.
@ anon 2.39am
ReplyDelete// Hunted and replaced by more malleable foreign mandarins who owe their positions to someonelse?//
The situations sound so familiar, isn't it?
Going back in history, one can see the same things happening as the nations went on a terminal decline and falling victims to eventual internal implosion and/ or external aggrandisement?
Historically, one of the familiar sights was intense "infighting" among the elites to secure or consolidate their privileged positions, benefits and ENTITLEMENTS?
Anon 7.56
ReplyDeleteAhGongKia pay filial piety to his descendents may be at China provinces(Cheng Ming) or may be at Jalan Berseh taking test.results of AIDs after hugging too many performing artists or Thai tigers,.oops Girls
Lao Chek Virgo
DeleteMiss me arr?
Yes ,Cheng Beng at Pulau Pinang.My late great grandmother resting peacefully here.Met dozens of my huanchu sweet potatoes penangite sampat cousins .Found them more hardworking and talented than our entitlement mentality lazy daft Sinkies .But no worry,majority are happy in boleh land.Not many are keen to take away Sinkies ricebowls.
Many are back buying landed properties after working in Sinkieland in various sector including banking where I was once their guarantor.
Dun waste money on those tigers,oops ,Thai girls ,Prc or Watlumpos or aids test.Many never brush teeth properly.
Come nutmeg island.I recommend Lau yee as suay yee to you before you become overnight yewchiakway.
Penangites are hard-working and talented.
@ Anon 2.39pm
ReplyDelete//Of course, this substitution will become an problem eventually, as talent is replaced by loyal subjects, our institutions can become frozen in the face of change.//
This had happened many times before to some of the richest civilizations and/ or nations in history?
1) Becoming independence at a fortuitous time?
2) The world witnessing hegemonic power changing hands from one nation in decline to the next on the rise ( eg. Pax Britiannica global dominance succeeded by the US after WWII )?
3) Global economy recovering from past ravaging wars ( eg. the massive and rapid economic recovery after WWI and WWII )?
4) Expanding populations and economic expansion ( eg. Sinkieland population rising from under 2 million to current almost 6 million )?
5) Upward mobility of new groups into the elite ranks ( eg. Lao goa, Ah Ngiam etc etc )?
6) The rulers were initially thrown up under tumultuous times and selected by the masses ( NOT ownselves choose ownselves )?
7) Rapid construction and expansion of the nation's housing, infrastructure during the early phase of nationhood to cater for the economic expansion and rising population?
Delete8) Institutionalisation in law, courts, defence, education etc etc in the early phase of economic growth and development?
9) The pioneer rulers enjoying unprecedented political support and the people unprecedented economic prosperity?
10) The elites or elites of the elites starting to close down the system or narrow the path for new entrants rising outside the most elite circles to the centres of political and economic powers ( eg. Some scholars in the 90s starting to complain about some glass ceilings they were facing )?
11) The unmistakable characteristics of the elites choosing the elites becoming the norm, the way of life ( but also the beginning of the end ..... )?
12) The repeated amendments and change of laws to favour the elites themselves and entrenched their holds to the political and economic powers?
13) Political dominance are followed by economic dominance by the elites in every facet of life?
14) Main lines of businesses being monopolised or narrow down by the elites through garment business entities or via their cronies?
15) With the inevitable decline under way, different aspects of the economy and society began to falter?
16) Intentionally or unwittingly, small changes in institutional arrangements led to or planted the seeds of national decline?
17) The unsustainable economic system most often manifested in the form of "slavery" in the labour force and the elites dominating both politics and the economy?
18) The initial nationhood policies that laid the foundation of economic expansi5and prosperity are gradually undermined and replaced? Intensified infighting to gain access to powerful positions that almost guaranteed access to more wealth, riches and power?
19) Greater undercurrents led to more policies designed to benefit the masses but that ended up benefiting the elites and cronies the most?
20) Social stratification intensified and deepened?
21) The lack of innovation and productivity in the system even in ancient history going back several hundreds and even thousands of year POINTED to the existence of "slavery" in the system?
22) The end is getting closer?
23) Many places worldwide are strewn with the RELICS of many civilizations and nations dating back a few hundred years to several thousand years?
24) Alas, some oldies beans are hoping for the wheels of decline to be turned back?
25) But the motion of the wheels of perennial decline had started and cannot be stopped? The fate,sadly, is SEALED?