Monday, August 4, 2008, 9:16 PM
Parliament of the Future- Built on the best Brains
Just had dinner. As usual, parents were lamenting about the rising inflation, unemployment etc. Well, you know. But somehow, today's interest seemed to be referred to our sovergein wealth funds, namely GIC and Temasek Holdings.
This was where, ironically, a "spark" that got me thinking. National Day. I saw a bunch of teens doing the cheerleading thingy and singing the "One People, One Nation thingy..." Our future is supposed to lie in the hands of the best and brightest of our generations. (PS if things a going a little haywire, just recollecting my thoughts) I then recalled the rationale of the government raise in salaries for our politicians- to attract the best and brightest into our leadership (government) and keep them there. The increase for the top ministers is at a whopping 25 percent (on average).
Here's the common man's lament, "They get a pay raise, we private employees get 3 percent raise annually only. Then there's the GST hike, inflation. I still have to raise 2 kids, pay off my car, my house..."
That got me wondering, generally, we expect that the best of our generation to be from schools like RJC and HCI. Afterall, they're supposed to lead us being people who are the best. That's where my questions come into play---
These students come from what we commoners acknowledge as elitist schools, not to mention a much higher proportion of the rich (silver spoon kids). Afterall in Singapore- more money= more enrichment lessons= better teachers= better grades= enhanced chance to top schools (some things may not be bought, but money can increase the chances of getting it) They are in a highly competitive society of their schools, where academia (we all agree this unknowingly) matters the most. However, do they really stay in touch with the grassroots, do they really know the hardships of the common man? Note that they will be highly paid compared to the common man, naturally for being the country's leaders
"My dad slogs his butts off everyday just to earn 3.5K plus a month, and even so its' not enough, my mum works to ensure a comfortable life for our family. So, think about it, how hard is it to maintain a family today"
Ask the more well to do elitists, how many of them can appreciate the efforts of the middle class, not even to mention the lower class. I have no need to emphasize- we are facing a widening income gap, and who are the worst victims of this- the poor, the middle class. If this people are to lead us, I sincerely do hope that they have the experiences of the middle and lower class. CIPs and SLs towards the disadvantaged are not enough (my opinion- its all a FARCE). Afterall, why is our MM Lee so successful in leading Singapore of the past- he suffered the effects of riots, of a country in turmoil, and he had a vision, he was inspired to take care of all Singaporeans genuinely (I do believe that our ministers are working for a good cause too- Mr Khaw on SARS, Mr Lim as minister of PM's office etc) All I hope is that our privilleged generation can serve with as much thoughtfulness and respect for their people.
The other burning question? Sovereign wealth funds GIC and Temasek Holdings. Did you know that these 2 companies rank among the top 6 of the world's greatest SWF's (got that from Wiki) GIC with 330 billion and TH with 159.2 billion. Tasked to help ensure the economic "safety" of our country, they have been actively and successfully built up a wealth for our nation. However, several high profile acquisitions have caught my eye, especially TH
The acquisition of Thailand's Shin Corp stakes- 49 percent was highly contreversial. SC was a leading telecommunications company in Thailand. The Thais saw it as a breach to their national security since TH now had 90 percent of the voting rights in this company (according to Wiki). Not to beat about the bush- this sure makes economic sense, afterall, it is seen as an investment oppurtunity. But is it socially desirable to incur the wrath of our Thai friends, morally, it may seem to them as an infringement to their sovergeinty. I'm not too sure myself.
Several other examples, Wiki quote
"stakes in telecommunication companies such as Telekom Malaysia. It has also taken up stakes in foreign financial institutions such as PT Bank Danamon in Indonesia and NIB Bank in Pakistan. Temasek-linked companies (TLCs) also hold an extensive global portfolio, such as SingTel's ownership of Australian telco Optus, and Singapore Airlines' 49% stake in Virgin Atlantic"
With respect ot our future leaders in our generation, I hope that in managing our nation, they can be tactful, learn from such situations, and genuinely serve our people with care and concern
Words from an ordinary boy...
(This post was not meant to insult anyone. Apologies to any infringement or problems caused. Just let me know)
