Thursday, April 19, 2012

SMRT and ComfortDelgro Annual Reports 2011 - PROFITS at Expenses of Singapore People

Its great to know that the 2 Government Linked Companies ComfortDelgro & SMRT which are the duopoly that operates Singapore's public transportation systems are earning profits dispute the countless subway breakdowns, crowding and buses crowding and running down pedestrians:

ComfortDelgro S$235.6 Million PROFIT
SMRT S$161.1 Million PROFIT

(Source: ComfortDelgro)

(S0urce: SMRT)

It is not surprising that some of the board members are former PAP MPs, trade unionists, or are current PAP MP or would be MPs. Also surprising is Mr Lee Seow Hiang CEO of Changi Airport Group is also member of SMRT board. He so busy can manage so many things? Really salute him. Mr Lee Seow Hiang, according to some unverified rumor that he was LKY's nephew. (dunno which Lee brother's son)

When Workers' Party suggest to Nationalised the Transport System, Transport Minister Lui Tuck Yew said that was a stupid idea. Now I know why it was such stupid idea, how can PAP kill the gooses that lay golden eggs? The ministers' bonuses are pegged to GDP right?

Even Ong Ye Kung, the Trade union champion, the failed parachute PAP MP from George Yeo GRC team is also the member of SMRT Board. Where on earth Trade Unionist be in conflict with the trade union cause? Unless you are in Singapore.

(Ex PAP MP who fired his old and useless Town Council workers)

(Source: ComfortDelgro)

(Halimah from Jurong GRC)

(Source: SMRT) (Lee Seow Hiang in the middle, LKY's nephew?)

Wednesday, April 4, 2012

EDB's Effort to woo Foreign Companies to Singapore may not benefit Singaporeans

(Source: San Francisco Chronicle)

My blog news feed from Google is a treasure trove of information. I just saw an interview from the San Francisco Chronicle to CEO of Bubble Motion on why he choose to move his business to Singapore.

"Moreover, the Singapore government gave us a $1 million engineering subsidy grant as an incentive to choose Singapore."

"A lot of people might think talent is the issue, which would be true if one were only hiring in Singapore. Singapore is a small population, so it is inherently limited on who you can find here. However, the world is our recruiting ground – not Singapore.

With Singapore's company-friendly immigration policy, phenomenally low taxes and great lifestyle, it is quite easy to attract top talent from all over the world. We now have employees from over 18 countries! We hire engineers from China, India, Indonesia, Philippines, Thailand – and even the Valley! Nearly all of our management team is from the Valley. Thus, we haven't missed a beat when it comes to finding top notch talent."
Quote from San Francisco Chronicle

EDB implement policies to woo foreign investment or companies to setup office here clearly does not even benefit Singaporeans. In this case, Singapore government gave money for foreign companies to spend ($1million to Bubble Motion) and the CEO did not think we have the talent pool in Singapore. I am sure that there are local employees working, but I wondered how hard they try to find talents locally before looking at other countries. NUS, NTU with additional foreign students cannot meet the demands and this company need to recruit engineers from Indonesia, Philippines and Thailand?