Retirement news will not hit markets hard

Millet Enriquez

emelita@mediacorp.com.sg

Singapore’s economy is driven by firm, consistent governmental pro-growth policies.

It would not change with both MM Lee and SM Goh stepping down.

Mr Gabriel Yap, executive chairman of investment firm GCP Global

 

Government policies also to blame for rising cost of living: SDP

 

Budget surplus means the Government has raised more revenue than it needs to provide basic services to the public.

It is good to have a slight surplus but the surpluses have consistently been very large and this means you have been severely over taxed over the years.

SDP candidate Tan Jee Say

 

SDP’s Tan Jee Say defends his ideas on S’pore economy

CHEOW XIN YI

cheowxinyi@mediacorp.com.sg

 

According to Mr Tan, the figure (S$60 billion) when broken down over five years and spread over 3.2 million Singaporeans, amounts to only S$10 per citizen.

Source: Frost & Sullivan

Journey Experience Index

MEDIOCRITY  ? ? ? ?

Neo Chai Chin

chaichin@mediacorp.com.sg

SINGAPORE

The Republic ranked 18th in a survey of 23 cities on public and private transport journey experiences. Copenhagen, Seattle and Sydney had the most satisfied commuters, according to the inaugural

Singapore scored 54.5 points, below the global benchmark of 61.

Those travelling on public transport indicated a higher level of discontent: Out of 740 public transport commuters and 674 private transport commuters polled here, 77.5 per cent and 57 per cent respectively were dissatisfied with their journey experience.

A comparative breakdown for the other cities was not immediately available.

However, one reason Singapore did not do better in the index could be the relatively high percentage of journeys made on public transport, as cities with higher car usage tended to record greater satisfaction in the overall journey experience, said Mr Vivek Vaidya, Frost’s Asia-Pacific vice president of its automotive and transportation practice.

The index gave equal weightage to four areas: Timeliness in reaching one’s destination, value-for-money, convenience and overall journey experience.

Mr Vaidya said the main frustrations of public transport commuters were overcrowding, [OVER] switching between different modes of transport as well as getting to and from their homes and train stations.

Car owners said their journey times were predictable, but groused about the lack of value-for-money, with charges such as Electronic Road Pricing, he said.

Transport analyst Lee Der Horng of the National University of Singapore was surprised that Singapore ranked below cities such as Beijing and Kuala Lumpur. But the findings suggest room for improvement in bus services here, he said.

A significant percentage of commuters get to train stations by bus, and “now that we have more MRT lines, transfer between (different) modes becomes more and more common”, he said. Train services are relatively predictable, but buses, which are subject to road and traffic conditions, are less so, he said.

“So, how to eliminate those uncertainties in bus services — that’s what the operators and regulator should pay extra attention to,” he said.

Frost’s findings vary from a customer satisfaction survey commissioned by the Land Transport Authority, the results of which were released earlier this year.

Of 3,100 public transport commuters polled last October, 92.2 per cent were satisfied with service, according to the latter.

Respondents gave an average service rating of 7.3 out of 10.

Commuters were asked to rate satisfaction levels in eight areas including comfort, waiting time and reliability.

Associate Professor Lee noted that the two surveys’ methodologies were different and should not be compared.

In reply to queries, the LTA told MediaCorp it was doing its best to increase transport system capacity and will spend S$60 billion over the next 10 years to expand the rail network.

Since last June, when LTA began quarterly reviews to improve heavily utilised bus services, 51 services have been improved through higher frequency and deployment of higher-capacity buses.

“The LTA will also continue to build new road infrastructure to cater to travel demands,” a spokesperson said.— When it comes to getting around the island, Singaporeans apparently have a worse journey experience than do commuters in New Delhi or Kuala Lumpur.Journey Experience Index by business research and consulting firm Frost and Sullivan.

Survey shows nearly 8 in 10 public transport commuters dissatisfied

It is vital to avoid a situation where people vote to have more Opposition for Opposition’s sake.The Sunday Times

But the younger team must always have in mind the interests of the older generation. This generation who has contributed to Singapore must be well looked after.

SPP’s Chiam See Tong says surprised at MM Lee, SM Goh stepping down

 

Chiam See Tong, SPP

SINGAPORE : Singapore People’s Party (SPP) chief Chiam See Tong said he was surprised that both Minister Mentor Lee Kuan Yew and Senior Minister Goh Chok Tong are retiring from the Cabinet.

Mr Chiam was speaking to reporters at a gathering for volunteers at Bishan Park on Sunday afternoon.

On reaching out to Singaporeans, SPP’s Second Assistant Secretary—General Benjamin Pwee said the party will set up an online portal to do so.

Speaking at an informal breakfast with residents at a coffeeshop in Bishan on Sunday morning, Mr Pwee said the online strategy can go beyond Facebook, to Twitter and even web chats.

Mr Pwee said Bishan—Toa Payoh residents have been offering to host informal meetings in their homes for party leaders, like Mr Chiam.

On its proposed community foundation, Mr Pwee said the fund will target people who do not have access to available assistance programmes, like small business owners on the brink of bankruptcy, and single mothers.

Mr Pwee added that a likely name for it is the Singapore People’s Community Foundation.

However, he said the final decision will be made by the taskforce in charge of setting up the foundation, which will be an independent entity separate from the party.

— CNA /ls

MM Lee, SM Goh’s stepping down signals time for new generation

 

Minister Mentor Lee Kuan Yew

SINGAPORE : Political watchers and MPs said the decision by Minister Mentor Lee Kuan Yew and Senior Minister Goh Chok Tong to step down from the Cabinet, marks the passing of an era, a time for a new generation to take charge.

They said the Prime Minister’s key task is to assemble a new team and show a new generation of Singaporeans that the government is listening to them.

As MPs, both MM Lee and SM Goh will continue to wield some influence, but their retirement from the Cabinet is a clear sign that it is PM Lee Hsien Loong who is firmly in charge and a new generation has to lead change.

Zulkifli Baharudin, a political observer and former Nominated MP said: " If there was any doubt in the past that Prime Minister Lee is not completely independent because of the presence of MM Lee and SM Goh in the Cabinet, I think going forward, there should be no such doubt."

" In terms of executive functions, of seeing through (policies), it’s quite clear that PM and some of the younger ministers will take a (bigger) role and responsibility going forward."

Some have speculated that the timing of the announcement was linked to the ruling party’s performance in the General Election where it secured 60.1 per cent of votes.

But not all agree.

Mdm Halimah Yacob, MP for Jurong GRC said:" The signalling is important. This is not an abrupt movement of our two very senior leaders. It has been over a number of years already. MM himself has said many times that he was not in control.

" But then it shows also a Prime Minister who’s very confident, a Prime Minister who wants to have his own stamp on the way he steers his Cabinet and on the way he steers the direction of Singapore."

MPs said the election revealed the extent to which Singapore society has changed.

Indranee Rajah, MP for Tanjong Pagar GRC said: " It’s not a case of, oh, we’ve got 60.1 percent which is lower than before, and therefore we step down. It is not it at all.

" It’s more a question of, what does the 60.1 per cent represent? What does it mean for us as a country, and in order for us to progress as a country, how do we let that happen?

" When you have a population that thinks independently and critically, then the question is, what do you do to be able to hold their trust, to be able to hold their confidence? That is PM’s big challenge."

Mr Zulkifli said it is important for the party to communicate that it is listening to Singaporeans but not become populist.

He said: " The PAP is in a reflective mood. I think this reflection is important at this point in time. A very spontaneous reaction, while it may win popular support of the critics for a short time, may not be the wisest thing to do. I think we must have clear reflection, clear understanding of what’s happening in our society, but it does not mean that you respond to the popular vote."

Political observers are now keenly watching how Prime Minister Lee will form his Cabinet, as it will signal the kind of leadership that will take Singapore into the next five years.

Most expect that there will still be a mix of old and new faces, as this has been a strength of Singapore’s Cabinet, but they said there will be a greater emphasis on qualities such as empathy, as well as an ability to listen and communicate.

Other PAP MPs said it may be easier for new MPs to speak up against government policies they disagree with, which may have been implemented under Mr Lee and Mr Goh’s leadership.

" At times as a rookie, we may not be so sensitive of such things. We do get reminded by senior Members of Parliament (MPs) or ministers to say, well I suggest you don’t pursue this further, because you will get nowhere," said Baey Yam Keng, MP for Tampines GRC.

They acknowledge that Mr Lee and Mr Goh will remain a valuable resource in Parliament for other MPs to tap on for advice.

— CNA /ls

Decision by MM, SM to step down a " major event" , says PM Lee

 

Lee Hsien Loong

SINGAPORE : Prime Minister Lee Hsien Loong has said the decision by Minister Mentor Lee Kuan Yew and Senior Minister Goh Chok Tong to step down from the Cabinet is a " major event" for Singapore.

Speaking after a post—election victory parade on Saturday, Mr Lee said he has not yet decided whether to accept their decision, but will likely give his answer by Monday.

He said the move was initiated by both leaders, but he had already known about their intention.

He added that his decision will also affect his new Cabinet line—up.

PM Lee said: " It is a major event for Singapore for two major figures like MM and SM to leave the government. It shows that they are thinking of Singapore and for the future of Singapore.

" The basic consideration is what is the best approach for forming a team which would be most effective in solving problems and establishing rapport and trust with the people going forward for the next five years."

— CNA/ms

MM is 87 and SM is 70 this year.  

 

Relatively speaking, when they said allow cabinet to have a clean slate of " younger" leaders, it means any one minister younger than them MM/SM, less than 70 years of age,    55/60/65 still can do. So a new benchmark of age limit  has been set now, no more than 70 years old leaders in cabinet… now who is next in line to reach 70 soon ??? no more MM and SM posts in cabinet in future ?

PM still thinking hard about this............... until Monday will tell all.