Singapore has been run like a corporation and often been called Singapore Inc. The political leaders are the board of directors, the head of ministries, the CEOs of GLCs are the top management, and their employees are the employees of Singapore Inc. Singaporeans, the citizens are the minority shareholders. Theoretically or legally, Singapore Inc belongs to all Singaporeans, the national reserve belongs to all Singaporeans. The only difference between Singapore Inc and private corporations is that there is no policy on the distribution of surplus profits to the minority shareholders. Private corporations have clearly defined corporate policies to distribute dividends or shares to the minority shareholders when they are profitable. Singapore Inc does not but may once in a while, on an ad hoc basis, throw out a few crumbs to the minority shareholders like a great gesture of generosity.
The wealth of Singapore, the national reserve and GLCs etc etc were painfully built over several decades by the pioneering generations and following generations of Singaporeans. The benefits to the Singaporeans are mostly indirect, like infrastructure and essential services to maintain a good and comfortable living standard and a continuous process of building the national reserve.
No one would be against the policy or objective of building an ever growing national reserve for the rainy day. Today, many are guessing how big the nation's reserve is, some saying it is way above $1 trillion or at least somewhere there. There is no acceptable formula to say what is enough or how big is enough for the reserve. The question is, other than saving it for a rainy day, which came a few times, what else is the reserve for and for who to benefit from.
Is it time to work out a policy, a formula, like private corporation, to share a bit of the surplus revenue of Singapore Inc with the people? I emphasise, surplus, not wanting a leg or a wing of the chicken. For so long, the only people that benefited directly and handsomely from the huge nation reserves are the fund managers managing it and the board of directors and top managements. Many have become millionaires or multi millionaires. And many are foreigners hired to do the job. In a way, the big national reserve is like for the foreigners or fund managers rather than for Singaporeans.
Singaporeans can only look at it from a distance, like the pot of gold at the end of the rainbow, can see but cannot touch, cannot even smell. Accepted that in recent years the govt has been sharing a little of the reserve to help the people especially the seniors, as well as all Singaporeans to alleviate the pain of high cost of living.
Perhaps the govt may want to table a discussion in Parliament on how to make good the belief that the national reserve is for the good and benefit of Singaporeans, that the reserve is for the Singaporeans, not just to enrich the fund managers and top management. Work out a sustainable formula and policy to pay out dividends to the minority shareholders, the Singapore citizens, while continuing to grow the reserve at the same time, meaning pay dividends like private corporations only in good time, not anyhow, suka suka, pay and deplete this precious and vital national reserve. The citizens, especially the older generations, have contributed a fair share of the reserves we are proud of today. It is payback time before they disappear without enjoying a little return from their long term investment over the years.
What do you think? What is the national reserve for, and for who to benefit?
8 comments:
Singapore Inc is created by the 1% and for the 1%.
another strategy from US playbook
Not just the national reserve. Look at all the reserve in other G link institution or charity org. / churches..etc. Actually there are tonnes of money lying around or used by someone in those org to gamble in stock/shares..etc, this "people" get big bonus if make money but if loose money "not my problem" as it other people money. I guess we Chinese are brough up having this 未雨绸缪 ingrain in our mind, therefore no one really want to question "when is enough". Also it was the 1st gen G that build up the reserve (sadly it become pap reserve). So subsequence G just use it to paid themselves or to benefit big businesses & so the peasants are left to dream that we are very rich. Just like our cpf, can see but cannot touch.
USA colonies or vassal states have to play by the USA playbook.
Aiya so simple lah!
Just vote in a NEW Government and everything shall be exposed or declared!
For too many years been twarted by them and also some sillyporeans who meddled in one to one fight in any election of GE and also Presidential.
Just be united and voted in the best choice that able to stand against the Papies.
Once we have a change of Ruling Government or NOT their President then all shall be known.
For too long been kept under Wraps.
Also can really pin point whether they are making tons of monies out of Sillyporeans of their BS subsidised BTOs and etc.
Also the Defence figures!
So do NOT waste another opportunity in this coming Errection!. Oops Election.
Simple as that.
Just cast your votes wisely.
Followed the Mats Chinese who could take their troubles to travel hundreds of miles to make it home to vote for their Parties of Their Interests and Survivals why NOT Sinkies who just simply went down to cast their votes comfortably?
Mo Gan Thye
Just to add no need 54 or 55 man years to show their Accounts and All.
Thought their EVIL Serpents are so efficient why needed 54 to 55 years to finalise the Figures of the Reserves?
The existing bonus system is for the fund managers, board of directors and top management. When the funds are doing well, boom town Charlie for them. Nothing for the minority shareholders. When funds did not do well, lesser or no bonus but still getting fat pay.
When would the interests of minority shareholders be part of the bonus system? In Singapore Inc, the minority shareholders are the really the major shareholders as the funds are from them to kick start all the GLCs and the sovereign funds.
Another thing we must not forget. Fund managers also have contracts to protect them from being dismissed for not doing well in managing those funds. The compensation for their dismissal could even run into tens of millions under their contract. When the fund does well, they are rewarded with astronomical bonuses. When the fund does not do well and they are dismissed, they are still protected by their contracts and compensations. That is why they are willing to take all the risks to gamble for the greatest returns. Gambling with other people's money is so rewarding.
Post a Comment