x 0

- Jitters over the

corporate governance standards

of S-chips

have surfaced once more, this time sparked by an audit report by the

Chinese National Audit Office

about the state of affairs in Chinese state-owned enterprises.

x 0

HOW many

P M E Ts

are taxi drivers

in SINGAPORE ? ? ? ?

mIs-allOcatIOn Of PMET mAnpOwer ? ? ? ?

mAnpOwer pOlIcy faIlUre ? ? ? ?

pharoah88 ( Date: 23-May-2011 20:10) Posted:

x 0

GOVERNANCE CITIZEN WELLBEING INDICATORS [GCWI]

1. Bank Saving Deposit Rate

2. Cost Of Living Index

3. House Rental Index

4. Cost Of Transport Index

5. Cost Of Education Index

6. Cost Of Civil Service Index

7. Cost Of Political Appointment Index

8. Domestic Inflation Index

9. Minimum Wage

10. Median Wage

x 0

http://forums.vr-zone.com/chit-chatting/470427-the-straits-times-phd-holder-cai-ming-jie-now-cabby-blog.html

The Straits Times: PhD holder Cai Ming Jie now a cabby + Blog Christine Aug 15th, 09, 10:58 AM

#1

COULD this be Singapore's most well qualified taxi driver?

Dr Cai Ming Jie became an SMRT cabby last November after spending 16 years as a researcher at the Institute of Molecular and Cell Biology (IMCB) of the Agency for Science, Technology and Research (A*Star).

His career switch has become a talking point online after he started a blog earlier this year. Alongside his experiences as a cabby, he takes issue with the circumstances of his departure from IMCB last May.

An SMRT spokesman confirmed that the former researcher is a driver with SMRT Taxis, but Dr Cai declined to add more beyond this: 'All that needs to be said is on the blog online...It should be IMCB that needs to be asked questions, if any.'

The China-born Dr Cai, who became a Singapore citizen, obtained a PhD in molecular biology from Stanford University in 1990. The Straits Times learnt that he did a two-year postdoctoral fellowship after leaving Stanford at the University of Washington, under famed genetist Professor Lee Hartwell, who won a 2001 Nobel Prize in physiology.

He joined IMCB two years later and worked as a principal investigator in the field of cell genetics up till his departure.

A spokesman for A*Star, meanwhile, said renewal of all its researchers' contracts is based on a number of factors, including the time taken to train PhD students, their performance and their contributions to the research institutes and the agency in general.

Dr Cai's work, like that of all A*Star researchers, was assessed by an external Scientific Advisory Board (SAB), which recommended his contract be terminated.

Still, in spite of the submission of countless curriculum vitaes and applications to universities, government agencies and companies since he was told he would be let go in 2007, Dr Cai failed to get a successful response.

The former researcher now drives a four-year -old Toyota Crown. 'At a time like this, the taxi business is probably the only business in Singapore that still actively recruits people,' he said.

----------------------------------------------------------------

Introduction:

Probably the only taxi driver in this world with a PhD from Stanford and a proven track record of scientific accomplishments, I have been forced out of my research job at the height of my scientific career, and unable to find another one, for reasons I can only describe as something " uniquely Singapore" . As a result, I am driving taxi to make a living and writing these real life stories just to make the dull job a little more interesting. I hope that these stories are interesting to you too.

Would he be a gOOd MP ? ? ? ?

x 0

x 0

http://www.a-star.edu.sg/AboutASTAR/CorporateProfile/ChairmansOffice/tabid/179/Default.aspx

Chairman's Office

Message from ASTAR Chairman, Lim Chuan Poh

The Agency for Science, Technology and Research (A*STAR) has a mission to drive and sustain world-class scientific research that will be meaningful and impactful for Singapore.

Here at A*STAR, we have cultivated an international and diverse community of scientists with a passion and purpose to uphold the highest standards of scientific research in their various areas of expertise. By providing robust research and commercialisation infrastructures, we enable the knowledge created by our scientists to be exploited to expand existing industries and create new ones.

We also take pride in our scholarship and training programmes dedicated to nurturing future generations of scientists and scientific leaders.

A*STAR's activities are centred in Biopolis and Fusionopolis, Singapore's twin research hubs of biomedical, physical science and engineering research.

This provides unique opportunities for scientists to interact and develop collaborations across institutes, organisations and other communities of researchers. Our spectrum of capabilities in the biomedical, physical and engineering sciences, all in one compact location, also allows us to conduct truly groundbreaking interdisciplinary research.

Together, we strive to break down boundaries to open up more space for knowledge creation and innovation to meet the challenges of tomorrow.

We invite you to explore Biopolis, Fusionopolis and our exciting research programmes that will play a crucial role in the creation of a knowledge-based, innovation-driven Singapore.

Lim Chuan Poh

x 0

http://nextinsight.net/index.php/component/content/article/35-2008/3903-amazing-book

AMAZING CABBIE WITH PH.D

Written by The NextInsight Team

Dr Cai Mingjie, whose PhD degree was from Stanford University, was among the Principal Investigators doing research at A-Star in Singapore. He lost his job in 2008 and failed to find employment, so he decided to become a taxi driver with SMRT.....

Dr Cai's experiences on the road are recounted with sharp observations and wit, and readers will be able to identify with many facets of Singapore life and its people and visitors....

More on Dr Cai can be found in a Wikipedia entry: http://en.wikipedia.org/wiki/Cai_Mingjie

Readers have found his book (published by Aktive Learning) an absorbing read cover to cover, and comments included:

" As a hedge fund manager in the Asia Pacific region but based in Hong Kong, I have frequent stopovers at the Singapore Changi Airport. I spotted this book and find it an amazing read. The hidden message of this book is quite simple: Don't Give Up! Good job, Dr. Cai!" - jarjar

We have a limited number of copies of the book which you can buy at S$19.90.

You can get it from Ms Sim Kih during office hours at our office: 4, Robinson Road, The House of Eden, #04-01, Singapore 048543.

Or you can pay through PayPal (button below) and we will send it to you by ordinary mail free of charge (only for Singapore addresses).

After making the payment via PayPal, please send a note to admin@nextinsight.net with your full name, address, handphone number and date of transaction.

Overseas buyers, please drop us a note at admin@nextinsight.net to tell us of your address and we will revert with the postage cost.

x 0

Equity Fund Flows

Big picture - Fund outflows across board.

This is the first outflows for Emerging Mkts (-$1.5bn) in 8 weeks while Developed Mkts also saw 4bn of outflows (largely led by outflows from North America) for the week ending 18 May. Prior week already showed a tapering off in fund inflows across board.

For week ending 18 May, EM Asia flows were also negative (-$0.7bn) for the first time in 9 weeks. Only HK, Indonesia and Taiwan saw net inflows. Largest outflows were attributed to China, India and Korea.

YTD DM saw the largest net inflows ($55.1bn) led by North America ($38.1bn). EM (-$4.4bn)on the other hand saw net ouflows.

EM Asia (-$3.1bn) similarly saw net outflows let by China, India and Singapore.

Trend wise, Asia as a whole display similar characteristics, except for Japan. On a 4 weeks moving avg basis, net inflows across Asia are tapering off from their highs of mid April 2011.

x 0

Equity Fund Flows

Big picture - Fund outflows across board. This is the first outflows for Emerging Mkts (-$1.5bn) in 8 weeks while Developed Mkts also saw 4bn of outflows (largely led by outflows from North America) for the week ending 18 May. Prior week already showed a tapering off in fund inflows across board.
For week ending 18 May, EM Asia flows were also negative (-$0.7bn) for the first time in 9 weeks. Only HK, Indonesia and Taiwan saw net inflows. Largest outflows were attributed to China, India and Korea.
YTD DM saw the largest net inflows ($55.1bn) led by North America ($38.1bn). EM (-$4.4bn)on the other hand saw net ouflows. EM Asia (-$3.1bn) similarly saw net outflows let by China, India and Singapore.
Trend wise, Asia as a whole display similar characteristics, except for Japan. On a 4 weeks moving avg basis, net inflows across Asia are tapering off from their highs of mid April 2011.

x 0

Offshore Marine and Chinese Shipbuilders

What happened: News emerged on irregularities findings in 2009 financial statements of 17 Chinese SOEs including CNOOC. CHALCO, COSCO and China Unicom. 1.9bn RMB (US$292m) of assets and 2.63bn RMB (US$404m) of profits were found overstated while 3.43bn RMB (US$527m) of liabilities were falsely included. Some other profits, assets and liabilities were unaccounted.

What we think: Share prices for the Chinese shipbuilders (Cosco and YZJ) have already reacted negatively to the news with both stocks down 3% this morning. Cosco being an SOE, with repeated provisions made over the past year and lack of accounting treatment transparency could face further sell-down with this news. YZJ's > RMB10bn of financial assets may be seen as risky by investors given the reduced confidence in the 'accuracy' of Chinese financial statements.

What you should do: Stay away from Chinese shipbuilders for now given the negative sentiments. We maintain our NEUTRAL view on both stocks given the (i) execution risk in Cosco and (ii) concerns of chunky financial assets in YZJ and its earnings quality dilution. Downside risk however could be mitigated by some contract wins.

x 0

WA company wins $50m Gorgon contract

Josh Jerga

May 23, 2011 - 5:39PM

AAP

West Australian opposition claims that local companies are being sidelined for work on major projects has been undermined with a WA-based fabrication and construction company being awarded a $50 million contract for the country's largest ever gas project.

Chevron Australia's managing director, Roy Krzywosinski, joined WA Premier Colin Barnett in announcing AGC Industries has been awarded the contract to supply pipe spools - steel constructions used to connect pipe - for the Gorgon project.

The $43 billion Gorgon project off the northwest WA coast is one of the world's largest natural gas projects.

The contract between the project's dominant partner Chevron and AGC, a subsidiary of AusGroup, involves the fabrication of about 7500 tonnes of pipe spools and will result in the employment of 150 people - 50 of the positions are new jobs.

" I think it's a great day for AGC, it's a great day for Chevron and it's an encouraging sign for the future of local fabricators," Mr Krzywosinski told reporters at the industrial hub of Henderson, south of Perth.

" I think it demonstrates local fabrication can compete on an international basis as this contract was bid for by both local and international fabricators."

He said he was optimistic there would be similar announcements in the not too distant future.

The WA opposition has attacked the government for letting work on major resources go offshore and have introduced a private member's bill to address the issue.

The Skilled Locals Jobs Bill would force companies to reveal the level of local work on major state projects and if they have used offshore contractors, the reasons why.

AusGroup's CEO, John Sheridan, said he believed the tendering process for the Chevron project had been conducted in a " full, fair and open way" .

" The way we look at securing a tender, it's all to do with capacity capability," Mr Sheridan told reporters.

Mr Krzywosinski said Chevron had so far awarded $10 billion worth of contracts to local firms on the Gorgon project.

He said Chevron was working with government and industry to break down the scope of some of the large contracts to ensure it can meet the capabilities of the local industry.

" It's in our best interest that we do have a very vibrant, local content, local industry that can support our operations for the next 30 years (because) construction is only a five-year period," Mr Krzywosinski said.

Mr Barnett said he believed WA's fabrication and manufacturing sector would continue to see more activity in the coming months.

x 0

you must be

1st WORLD HEAD HUNTER ?

with a lot of

powerful top connections ?

x 0

By Chester Tan, 23/05/2011

BLOG: Asus Transformer - Android in Disguise

While the whole world chases after the iPad 2, Chester Tan puts his money on the Asus Eee Pad Transformer TF101

If you think that it's just a laptop, then you would have been successfully fooled by the " disguise" . It is actually a 10.1" living Android 3.0 Honeycomb tablet.

The beauty of this particular product is that it comes with an optional keyboard dock that can be folded into place, just like a laptop. While competitors do have keyboard accessories, they are either a wireless version in a separate unit (like Motorola XOOM) or a dock that cannot be folded (like Apple iPad).

Question is: why buy this when you should get a laptop? The beautiful answer is: why not when I can have both! Undock it and it's just another tablet. Dock it, and you get a laptop.

A tablet is great for hand gesture interaction, but if you need to do serious typing, it's a nightmare. Besides, once the screen keyboard appears, you have little display space left to see what you are typing, not to mention how unfeeling touch keyboards are.

Chester Tan

A laptop?

x 0

There are AVERAGES ? ? ? ?

AVERAGE is " RUBBISH" in STATISTICS ? ? ? ?

BECAUSE AVERAGE DISTORTS AND HIDE THE TRUE FACTS ? ? ? ?

MORE ACCUTRATELY ANNUAL GDP

must be CATEGORISED

by GDP RANGE and NUMBER of CAPITAL for each GDP Range.

2010

59,813

this is MEANINGLESS ? ? ? ?

It should be presented by Category:

2010 S$0 to S$500 299,444

S$501 to S$1,000 577,544

.................................... .............

S$1 Million to S$2 Million 29,988

This categorization will tell the TRUTH and NOTHING BUT THE TRUTH ? ? ? ?

teeth53 ( Date: 23-May-2011 10:57) Posted:

http://www.singstat.gov.sg/stats/themes/economy/hist/gdp.html

Time Series on Per Capita GDP at Current Market Prices

Download (21kb)
Year	S$	US$
1960	1,310	428
1961	1,374	449
1962	1,445	472
1963	1,564	511
1964	1,486	485
1965	1,580	516
1966	1,734	566
1967	1,915	626
1968	2,168	708
1969	2,487	812
1970	2,832	925
1971	3,278	1,075
1972	3,855	1,371
1973	4,737	1,928
1974	5,749	2,359
1975	6,065	2,558
1976	6,536	2,645
1977	7,022	2,879
1978	7,776	3,420
1979	8,852	4,071
1980	10,685	4,990
1981	11,947	5,655
1982	12,786	5,975
1983	14,135	6,689
1984	15,182	7,117
1985	14,847	6,748
1986	14,922	6,853
1987	16,357	7,767
1988	18,722	9,303
1989	20,897	10,715
1990	23,101	12,745
1991	24,898	14,412
1992	26,225	16,099
1993	29,489	18,250
1994	32,718	21,421
1995	35,012	24,702
1996	36,562	25,929
1997	38,840	26,158
1998	36,229	21,647
1999	36,342	21,442
2000	40,364	23,414
2001	37,974	21,194
2002	38,865	21,705
2003	40,627	23,319
2004	45,716	27,046
2005	48,939	29,400
2006	52,466	33,020
2007	58,243	38,646
2008	55,369	39,136
2009	53,464	36,758
2010	59,813	43,867

teeth53 ( Date: 23-May-2011 10:50) Posted:

opp sori...

President salary is 4.2 million, after 60% pay cut -- still huat arhhh. 1.68 million.

President salary is 4.2 million, after 70% pay cut -- still huat arhhh. 1.26 million.

x 0

salary should be OPEN to PUBLIC TENDER ? ? ? ?

Based on OUTSORUCING MODEL ? ? ? ?

Or every constituency's salary [including the town council management] should be approved by each contituency's voters ? ? ? ?

teeth53 ( Date: 23-May-2011 10:50) Posted:

opp sori...

President salary is 4.2 million, after 60% pay cut -- still huat arhhh. 1.68 million.

President salary is 4.2 million, after 70% pay cut -- still huat arhhh. 1.26 million.

teeth53 ( Date: 23-May-2011 10:46) Posted:

This what HR is pay to grad...

Part-time grad...now getting $8/- to $12/- per hour... Rolling Eyes

Full-time grad...getting median pay $3.3k to $4k...
MP pay is 12k..?. (3X to 4X...?) even after salary cut.

President salary is 4.2 million, after 70% pay cut -- still huat arhhh. 1.68 million.

x 0

GROSS EXUBERANCE ? ? ? ?

HOW MANY HOURS OF ACTUAL WORK WITH ACCOMPLISHED RESULTS ? ? ? ?

LOOK AT CITIZEN BENEFICIAL KEY PERFORMANCE INDICATORS [KPIs] ? ? ? ?

NOT JUST BY THE EFFORTS ? ? ? ?

[Like the SLEEPY PARLIEMENT SESSIONS BROADCASTED ON TVs]

teeth53 ( Date: 23-May-2011 10:46) Posted:

This what HR is pay to grad...

Part-time grad...now getting $8/- to $12/- per hour... Rolling Eyes

Full-time grad...getting median pay $3.3k to $4k...
MP pay is 12k..?. (3X to 4X...?) even after salary cut.

President salary is 4.2 million, after 70% pay cut -- still huat arhhh. 1.68 million.

x 0

ENLIGHTENMENT

SINGAPOREANS are THE MOST LAW ABIDDING CITIZENS IN THE WORLD.

[Even foreign diplomat could drive recklessly on Singapore roads and killed innocent pedestrians ? ? ? ?]

RISK PREMIUM OF SINGAPORE POLITICIANS IS ZERO

[just like the SINGAPORE BANKS' NEAR ZERO SAVING INTEREST RATES ? ? ? ?]

mOre Over POLITICIANS are holding MULTIPLE APPOINTMENTS ? ? ? ?

with MULTIPLE SORUCES OF INCOME ? ? ? ?

HOW MANY ABSOLUTE HOURS are actually SPENT on resolving national issues ? ? ? ?

From the other angle, how many absolute hours are LEFT after spending time in other private appointments ? ? ? ?

Laulan ( Date: 23-May-2011 09:50) Posted:

Quote: " The PMO statement said the review will cover the President, Prime Minister, political appointment holders and Members of Parliament (MPs). "

It is definitely a welcome move by all members of the public. Such a review is long overdue because of the lack of officially recorded voices against the high fixture of political office holders' salaries. With effect from 21 May, 2011, all politically salaries will begin from there and adjusted retrospectively according to the recommendations that would be put in place by the committee that was set up yesterday.

Ministers and political appointments are always held in high esteem, and besides the fringe benefits afforded them in private and public lives, their salaries are not always pegged against the private sectors' remunerations in any country we know of. Furthermore. private sector pay ranges widely. Some CEOs may receive a million dollars in bonus on top of their pay, but some may receive much much lesser that what the company can afford.. However, in their positions, CEOs normally take big financial risks while political office bearers don't take that kind of risks. Granted in many backward countries, the risk of losing their lives where countries are in chaos, they deserved higher premiums to be paid to them, we in Singapore are different lots, considering our people being well behaved, quite " kiasu" in many respects, and our politicians are nationalistically minded and where every citizen always has national interests at hearts.

I would wish for a drastic cut by the review committee. Cheers.

x 0

‘Forget politics, what is the job worth?’

Tan Weizhen

weizhen@mediacorp.com.sg

SINGAPORE

Let’s view each ministerial job squarely for what it is — that is the approach that the chairman of the new salary review committee wants to take.

“We will start with a proper process.

Forget the political part of the job, we will be redefining its worth by looking at everything else from the job scope to the hours put in,” said Mr Ee. This task will “not be insurmountable” as it is what human resource practitioners do all the time.— Embarking on the very delicate task of reviewing ministerial salaries, one of the most politically controversial issues of the last 17 years, Mr Gerard Ee (picture) is determined to put aside all political lenses.

Laulan ( Date: 23-May-2011 09:50) Posted:

Quote: " The PMO statement said the review will cover the President, Prime Minister, political appointment holders and Members of Parliament (MPs). "

It is definitely a welcome move by all members of the public. Such a review is long overdue because of the lack of officially recorded voices against the high fixture of political office holders' salaries. With effect from 21 May, 2011, all politically salaries will begin from there and adjusted retrospectively according to the recommendations that would be put in place by the committee that was set up yesterday.

Ministers and political appointments are always held in high esteem, and besides the fringe benefits afforded them in private and public lives, their salaries are not always pegged against the private sectors' remunerations in any country we know of. Furthermore. private sector pay ranges widely. Some CEOs may receive a million dollars in bonus on top of their pay, but some may receive much much lesser that what the company can afford.. However, in their positions, CEOs normally take big financial risks while political office bearers don't take that kind of risks. Granted in many backward countries, the risk of losing their lives where countries are in chaos, they deserved higher premiums to be paid to them, we in Singapore are different lots, considering our people being well behaved, quite " kiasu" in many respects, and our politicians are nationalistically minded and where every citizen always has national interests at hearts.

I would wish for a drastic cut by the review committee. Cheers.

x 0

we are talking about ZERO RISK FIXED EMPLOYMENT SALARY even paid during the WORST TIMES.

not profits [not forgeting LOSSES] of business owner ? ? ? ?

mOre over do the business owner CLOSE down own business BEFORE taking up political appointment ? ? ? ?

[One very good example is President MA of TAIWAN. Even his wife and brother immediately resigned from ALL APPOINTMENTS for him to be President of TAIWAN ? ? ? ?]

business owner risks TOTAL LOSS ? ? ? ?

That is why ALL " A" Team people dared nOt become OWN BOSS ? ? ? ?

Because polical appointment salary is 100% SAFE ? ? ? ?

rotijai ( Date: 23-May-2011 08:58) Posted:

wat if their last drawn pay is higher than wat the cabinet has to offer ?

pharoah88 ( Date: 23-May-2011 08:04) Posted:

By Channel NewsAsia, Updated: 22/05/2011

Singapore to review salaries of President and Cabinet

SINGAPORE: The Prime Minister’s Office (PMO) has spelt out the terms of reference for the review of salaries for the President and political appointment holders.

It issued a statement on Sunday, a day after Prime Minister Lee Hsien Loong announced the formation of a committee to review political salaries.

The PMO statement said the review will cover the President, Prime Minister, political appointment holders and Members of Parliament (MPs).

The committee’s terms of reference will be to review the basis and level of salaries " to help ensure honest and competent government" .

The committee should take into account salaries of comparable jobs in the private sector and also other reference points such as the general wage levels in Singapore.

[nOt to forget ? ? ? ? incumbent and rookie's LAST DRAWN SALARY BEFORE political appointment ? ? ? ?]

The statement added: " The committee should also take into account the following guidelines:

a. while the salary of the President should reflect the President’s high status as the head of state and his critical custodial role as holder of the second key, it should also take into account the fact that unlike the Prime Minister he does not have direct executive responsibilities except as they relate to his custodial role

b. the salary of ministers should have a significant discount to comparable private—sector salaries to signify the value and ethos of political service."

[political appointment is a SALARIED JOB and nOt an BUSINESS OWNER ? ? ? ?]

The government will base its new salaries on these recommendations.

Prime Minister Lee has decided that the new salaries will take effect from the day the new government took office, which is 21 May.

As for the President’s salary, the statement said it will commence from the new term of the President.

However President S R Nathan has informed Prime Minister Lee that he, too, will adopt the new salary from 21 May.

Singapore ministers are among the highest paid in the world.

Their salaries are currently pegged to two—thirds of the median salary of the top eight earners in six professions in the private sector.

[should peg to China ministers' salaries & ASEAN PEER ministers' salaries ? ? ? ?]

At the swearing—in ceremony for the new Cabinet on Saturday, Prime Minister Lee said that " politics is not a job or a career promotion" but " a calling to serve the larger good of Singapore" . He noted that Singaporeans have genuine concerns over the present ministerial salaries.

" Hence I am appointing a committee to review the basis and level of political salaries. The committee will be chaired by Mr Gerard Ee, Chairman of Changi General Hospital and Chairman of NKF," he said.

" The inclination, obviously, once the PM says to reflect the ethos and values of the political appointments, you can expect that in all probability it would be a cut," said Mr Ee on Sunday.

Together with Mr Ee, the committee will have eight members from the private sector, labour movement and social sector.

[These should be ELECTED by the citizens ? ? ? ?]

The seven other members are:

Mr John De Payva, president of the National Trades Union Congress

Ms Fang Ai Lian, chairman of the Charity Council and chairman of Methodist Girls’ School Board of Management

Mr Stephen Lee Ching Yen, president of Singapore National Employers Federation

Mr Po’ad Shaik Abu Bakar Mattar, a member of the Council of Presidential Advisers and a member of the Public Service Commission

Mr George Quek, founder and chairman of Breadtalk Group Ltd, vice—president of Teochew Poit Ip Huay Kuan, chairman of Xinmin Secondary School Advisory Committee

Mr Lucien Wong, managing partner of Allen & Gledhill LLP and chairman of Maritime and Port Authority and

Mr Wong Ngit Liong, chairman of the National University of Singapore Board of Trustees and chairman & CEO of Venture Corporation Limited.

[Lack of grassroot representation ? ? ? ?]

— CNA/ir

x 0

By Channel NewsAsia, Updated: 22/05/2011

Singapore to review salaries of President and Cabinet

SINGAPORE: The Prime Minister’s Office (PMO) has spelt out the terms of reference for the review of salaries for the President and political appointment holders.

It issued a statement on Sunday, a day after Prime Minister Lee Hsien Loong announced the formation of a committee to review political salaries.

The PMO statement said the review will cover the President, Prime Minister, political appointment holders and Members of Parliament (MPs).

The committee’s terms of reference will be to review the basis and level of salaries " to help ensure honest and competent government" .

The committee should take into account salaries of comparable jobs in the private sector and also other reference points such as the general wage levels in Singapore.

[nOt to forget ? ? ? ? incumbent and rookie's LAST DRAWN SALARY BEFORE political appointment ? ? ? ?]

The statement added: " The committee should also take into account the following guidelines:

a. while the salary of the President should reflect the President’s high status as the head of state and his critical custodial role as holder of the second key, it should also take into account the fact that unlike the Prime Minister he does not have direct executive responsibilities except as they relate to his custodial role

b. the salary of ministers should have a significant discount to comparable private—sector salaries to signify the value and ethos of political service."

[political appointment is a SALARIED JOB and nOt an BUSINESS OWNER ? ? ? ?]

The government will base its new salaries on these recommendations.

Prime Minister Lee has decided that the new salaries will take effect from the day the new government took office, which is 21 May.

As for the President’s salary, the statement said it will commence from the new term of the President.

However President S R Nathan has informed Prime Minister Lee that he, too, will adopt the new salary from 21 May.

Singapore ministers are among the highest paid in the world.

Their salaries are currently pegged to two—thirds of the median salary of the top eight earners in six professions in the private sector.

[should peg to China ministers' salaries & ASEAN PEER ministers' salaries ? ? ? ?]

At the swearing—in ceremony for the new Cabinet on Saturday, Prime Minister Lee said that " politics is not a job or a career promotion" but " a calling to serve the larger good of Singapore" . He noted that Singaporeans have genuine concerns over the present ministerial salaries.

" Hence I am appointing a committee to review the basis and level of political salaries. The committee will be chaired by Mr Gerard Ee, Chairman of Changi General Hospital and Chairman of NKF," he said.

" The inclination, obviously, once the PM says to reflect the ethos and values of the political appointments, you can expect that in all probability it would be a cut," said Mr Ee on Sunday.

Together with Mr Ee, the committee will have eight members from the private sector, labour movement and social sector.

[These should be ELECTED by the citizens ? ? ? ?]

The seven other members are:

Mr John De Payva, president of the National Trades Union Congress

Ms Fang Ai Lian, chairman of the Charity Council and chairman of Methodist Girls’ School Board of Management

Mr Stephen Lee Ching Yen, president of Singapore National Employers Federation

Mr Po’ad Shaik Abu Bakar Mattar, a member of the Council of Presidential Advisers and a member of the Public Service Commission

Mr George Quek, founder and chairman of Breadtalk Group Ltd, vice—president of Teochew Poit Ip Huay Kuan, chairman of Xinmin Secondary School Advisory Committee

Mr Lucien Wong, managing partner of Allen & Gledhill LLP and chairman of Maritime and Port Authority and

Mr Wong Ngit Liong, chairman of the National University of Singapore Board of Trustees and chairman & CEO of Venture Corporation Limited.

[Lack of grassroot representation ? ? ? ?]

— CNA/ir