Higher salaries lead Singapore to become top pick for Asian workers looking to move
March 7th, 2024 | 
Author: 
I refer to the Independent Singapore’s Featured News SG Economy, “Higher salaries lead Singapore to become top pick for Asian workers looking to move” (Feb 22).
In this era of rapid technological advancement, all countries are faced with the dilemma of being hungry for talent. Therefore, top talents in respective spectrums become the cream of the crop, and are the targets of competition among large multinational conglomerates.
Recently, there are stiff competition and demand for top talents in the Asia Pacific region which include Hong Kong, Singapore and Australia.
In the IMD World Talent Ranking 2023 report (which was published at the Australian Financial Times), it shows Singapore is at the 8 position of the top 10 in global war for talent, and Hong Kong SAR only secures the 16 position. Hence, Singapore is the leader in the Asia Pacific region.
However, regarding the stiff competitions of the talent hunting, there are across strategic similarities between the Hong Kong and Singapore. And, their economic success are seamlessly linked with the aids of top foreign talents, and also closely depending upon the following vital factors.
A. The respective government’s active involvement, advocacy and policy supports.
In January 2023, Singapore’s Ministry of Manpower (MOM), in cooperation with the Ministry of Trade and Industry and the Ministry of Communications and Information, announced four enhancement schemes to the country’s work pass framework to strengthen its appeal as a global hub for foreign talent.
One of the major enhancements is the introduction of the Overseas Network & Expertise Pass, which allows high-earners and achievers to live in Singapore without the need to secure employment first.
Other enhancements include providing a five-year Employment Pass (EP) for experienced professionals filling specific high tech occupations.
At the end of December 2022, The Government of the Hong Kong Special Administrative Region (HK SAR) has robustly launched a series of talent-grabbing measures to attract foreign talent, including the Hong Kong's Top Talent Pass Scheme (TTPS). This initiative is aimed to remedy the past three years’ political and social upheavals which had caused its sizeable manpower drain.
On 7 January 2024, Chris Sun, the Hong Kong secretary for labour and welfare, who disclosed that the TTPS received applications in excess of 50,000 as of end November 2023. Sun concluded that the scheme has been rather successful
B. A country’s superiority in terms of geographical location and economic strategy - One of the key reasons that Singapore has been able to attract and retain top talent is its strong economic fundamentals. The country has a highly developed and diversified economy with a strong focus on innovation and technology.
Another reason is Singapore’s strategic geopolitical location which intersects the developed eastern and western countries.
The Government of the Hong Kong Special Administrative Region strongly emphasises that as a global city, it provides everyone a chance to explore opportunities in this buzzing metropolis, with its vibrant cosmopolitan lifestyle, diverse expat community, world-class infrastructure, healthcare and education, and economic potentials.
C. The government’s preferential tax policies -
In 2023, Singapore’s Corporate Income Tax rate is 17%, and the Corporate Income Tax is assessed on a preceding year basis in Singapore.
In 2023, the normal profits tax rate in Hong Kong is 16.5% for corporate income tax. Incorporated companies pay 8.25% tax on the first $2 million of profits and 16.5% on the remainder, while unincorporated businesses pay 7.5% on the first $2 million and 15% on the rest.
Thus, these two countries have the competitive and relatively comparable corporate tax rates.
D. The competitiveness in the office space rental of Singapore and Hong Kong -
The reasonable and competitive office and industrial space rental will be able to reduce the operational expenditure of all the business enterprises, keeping the business enterprises viable and competitive.
It will help the countries like Singapore and Hong Kong to retain those multinational companies so that to progress their economies.
For examples, the Urban Redevelopment Authority’s (URA) office rental index for Singapore’s central region rose 0.3 per cent in the fourth quarter of 2023 over the preceding quarter.
This was a slower increase than the 4.9 per cent gain in Q3 2023. For the whole of 2023, the office rental index slightly climbed 13.1 per cent after expanding 11.7 per cent in 2022.
In Hong Kong, in the second quarter of 2023, the average monthly rent for grade A office space in HK's Central district amounted to 1,003 Hong Kong dollars per square meter as a global cosmopolitan city.
Teo Kueh Liang (Mr)
Posted in 
I like this post. Good for night time reading.
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Yes, yes, all the foreign politicians are flocking here for the high pay. Then they sneer that poor Sinkies can retire to their ulu villages.
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High Salary came about only if you are of Chew Shou Zhi caliber or PAP minister caliber.
After the COVID, many companies found that they can save office space by restructuring job scope and ask staff to work from home.
The best candidate for work from home are call center, coder, auditor and some accounting function like expense claim.
Once the Johor-Singapore Special Economic Zone goes live, employer can hire directly out of JB.
Time to buy property in JB but not for me as JB is gangster and ah gua town.
https://shorturl.asia/c0lhH
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What fucking talents?
All coming here to leech on stupid sinkies.
CECA（四脚）,four legged pariahs in Hokkien.
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Great foresight. Is the new MRT line suggested by immi staff at Temasek to enable their own convenience?
PM also has niece Chew.
2 yr internship at FB (unusally long), then
became Partner at DST venture which invested in Bytedance, then at Xiaomi
Noted some are invested by Temasek.
Was FB frightened in parliament?
Curious how to be partner just by joining?
Did he invested in the company?
Does he get a share of profit of DST?
Normally they only become partner of investee company, not investor company.
Not saying there is any relations or have any help.
Just wondering.
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Link doesn’t work.
KL got even more ah guas. Gay capital of Malaysia.
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Not a substantial jump to deter, more of a promotion.
MOM doesn’t know HR mgt?
Why keep upgrading employed “talent” to switch jobs?
Is it to prevent unemployed ctzn from being employed?
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Brought in to increase Singaporean’s wealth or leech on nation?
It is an ingenious scheme.
Since many years ago, Sg had blocked access to local upgrading, even closed the schools.
Priority had been given to bring in “talents” to be trained at local expense.
Talents need to be trained.
Skillsfuture also has many hankypanky putting some BG in-charge with non-existent courses, upside down schedules – Level 2 ahead of Level 1 and having to wait 1 year to start, so can’t start… with lots more hankypanky by those placed in-charge.
There is more – need to know the stuff before can enrol.
Also have heaps of other requirements and schedules.
BUT if you do it at their private schools set up by themselves, no need all that, but need pay a bomb… even more than uni.
WSG recruitment consultants are unusual. Tell you go reskill to other non-related stuff but does not recommend any jobs in the area you are in. They say need wait 2 years then can go back to same industry. In any case, they have no idea what is needed being mostly immigrants themselves not experienced. Guess they are instructed by PMO since the department is under them.
They had been con-mingling SPR with citizens to hide proper statistics so as to enable colonization plan.
Probably they are not aware that since 20 years ago, it was already known through research that learning online does not produce great outcomes.
Yet many scammers were brought in. What to do, ignorant are easy to con.
What’s more, they also use someone else’s head photos as their own.
They love to use some Chinese female faces.
Also discrimination is rife – from age, sex, race to religion…. etc.
If you allow attachment, some evidence can be provided to show the world who are the ones behind the scheme.
Would guess this is also happening in other parts of the world – US, UK, Aust, etc
Firstly, why would there be shortage if not for NS, NSR putting citizens out?
Some people are seeking to be relevant on an indefensible island.
They are the cause of ALL problems in Sg and the world.
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Racist Opposition attacking India again.
If CECA is four legged pariahs, what about
RCEP we signed with China?
The Chinese are Four legged pariahs? Yes or No?
Please answer.
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You are a f86king anti-Chinese racist.
If someone attack Indians, then you should defend that. But no, you quickly attack Chinese.
Without any provocation, you attack Chinese in 90% of your comments.
You are a f86king anti-Chinese racist.
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So,former sg-PMETs were cheaperer ,betterer(gave higher national productivity ) and fasterer(do not chiak chua on the job).
FTs(Fake Degree Talents) of PAP are now not “CHEAP” anymore!
TIME TO REPLACE ALL THE EXPEN$IVE LOW-PRODUCTIVITY FTs with “CBF” sg-PMETs.
Tan See Leng,what say you?
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Got skills future course teach you how to wash toilet.
I thought army already teach? Including, clear long kang, area cleaning, make the bed, sweep camp. Trained men to be housewives. haha
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Hiring Malaysians started very long ago. Year 2000 got so many Malaysians in the office. Actually the office almost all foreigners. Boss is French. GM is British. Chief Ed is British. Not bad lah, staff tell me both men live in landed property with Asian boys as lovers.
No need wait for that special economic zone.
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Just keep on refreshing and it will works.
Otherwise go YT and google 2024年柔佛古庙游神～小哈尼
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There will be more job re-structuring, thanks to COVID 19 and the matured of remote technology which enable Work From Home.
I anticipate more and more back room operations jobs go to Johor Special Economic zone.
The only job that cannot move to Johor is front line staff like Chew Shou Zhi
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The word Talent needs a definition in the Singapore context as the top talent are already in the US and Europe. So what is the Talent the PAP talks about which has caused 80% in Public Housing supporting the 20% including the PAP. I don’t think we have foreign talent or PAP talent valued at million dollars salaries. We have scammers and foreign infiltrators who will take over the govt. if the infiltration is successful. After a period of time,we will be little India or little China.
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Post ended too abrupt. Writer must have dozed off………..
Hong Kong IS part of China. Forget past history, that’s gone with the wind. I cannot fathom that any intelligent investor would ever trust putting money into Hong Kong when once a thriving worldwide financial center, reduced to a shell of its former self. No one believes Hong Kong isn’t a part of China, it is. And as such the political climate and the nebulous “National Security Law”does not bode well for Hong Kong nor does it win hearts & minds of the populace. No wonder the best minds want to LEAVE Hong Kong.. and not because of higher salaries as purported by Teo Kueh Liang. Even now, the flight of many Chinese entrepreneurs to Indonesia and elsewhere demonstrates the difficulty of doing business in the PRC, which includes Hong Kong.
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China CCP,CHINESE from China taking over sgs’ job$?
WHAT me see is more like the India-Indians and pinoys stealing job$ from sg-PMETs.
To me,it is plain to see.
ANGMOHS TUA KEE who hold higher execuTHIEVES’ position$ prefer India-indians and Pinoys.
These 2 nationalities are damn good at carrying Angmohs,not so the China-chinese.
Of course,the FTAs are helping Aliens to embark on “member-get-member” scheme.
FTAs seem more like Foreign Fake Talents Agreements in practice.
And,does the G care?
You must be so daft if you still insist not to be aware.
Better Go Chase the rainbow on your bicycles if you do not care
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So Chinese New Year festivities at Pelangi Plaza – blue tape central.
Think all those straight people are not aware that fella in yellow dress is a fella?
If they are, they are amazingly friendly to transgender.
Later they all come Spore and the city will turn from Red Dot To Pink Dot. Muahahahaha!
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Old fool, you should be grateful.
I am educating you. What you said could also be turn around and said on you.
We are Singaporean, NOT CHINESE…
Old fool and idiotic Opposition had no thinking power.
2 group of old idiotic fools trait0r here:
Group 1. The Anglo $axon Tua Kee group who are ready to be canon fodder for Anglo $axon to pursue their Manifest Destiny to annex Singapore like Ireland
Group 2. The CCP Tua Kee group who are ready to be canon fodder to aid CCP annex Singapore like Tibet.
Only PAP are defending Singapore and Singaporean interest.
ISD must watch out these 2 groups and used FCIA to arrest them like Opposition Philip Chan.
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To the Anglo $axon lover, this is how they scam you.
FACTS:
Anglo $axon kicked/bully Thais doctor. Live off Thais donation (kindness)
Part #1
https://youtu.be/JvXwj6Yax_A?si=mbw54VPp3MO1iYJz
Part #2
https://youtu.be/9zkq5dA45gY?si=fK-CPUVPLDXnjgVH
Thais wife collaborate with Ang Mo to scam Thais. What an idiot Thais.
To the CCP lover, this is how CCP scam you.
XJP had eradicated poverty and Dave said many are living a life of plenty with dignity? Really ?
FACTS:
雨林风险大，国内风险更大 Forest are dangerous, back home it is 3 times dangerous.
https://shorturl.asia/mnZdU
不要轻易走线，美国也不是天堂！Don’t enter America legally, U$A is not heaven.
https://shorturl.asia/vWJxk
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A special economic zone change the game entirely.
Companies in Singapore can setup their back office operation in Johor while keeping their front office in Singapore.
Before covid19, Penang is already doing that.
A friend told me some electronic factory in Penang had a section called home maker.
What is home maker? Basically it is a cost cutting strategy by sending semi finished component to home housewife for assembly.
According to this friend, the company pay based on the pieces of assembled component.
The more you assembled with no errors, the more you earned.
Just like the more you give to Pastor Kong/Ven. Ming Yi, the more you prosper.
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No need to confuse and extend the thinking of 2 persons in the video to the whole nation
===============================================
See what is wrong with these?
Formerly Keppel
Seatrium loss widened to – $2B
earned $236m
Raffles Medical Group reports FY2023 patmi of $90.2m, 37.1% lower y-o-y
Great Eastern Holdings insur reports earnings of $774.6m for FY2023, up 27% y-o-y
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Voice of America? Facts?
Only sheep believe that.
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What was not said?
Purposely or inadvertently?
See the dotted line? He knew it was incomplete but purposely left it as that!
Targetted at certain group, creating a false sense that only the targeted people don’t consider themselves as Singaporean but all the others do!
He wants very much to divide Singaporean! Why he did that ( he did that all the time) ? Is he not dangerous?
The “ Tau Kees “ and “old fools “ as cited by him could be somehow dangerous, but not as dangerous as the one who always accuses Singaporean as free riders!
“ Pull Underwear In”!
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No no no. All the chow ah gua, real men and women from KL already came spore to work after 2003. Presently, already more than 1 million Malaysians working and having sex here.
What you are saying the choo choo train will make it easier.
I agree. Let all those cheapo companies relocate. After all they cut employees salaries to pay the rent. I Neber anyhow say one. It came from a employer during one of the hiring talks. He told all job seekers :” If you have to cut costs, it is either the rent or salaries.” Of course we all know it is easier to bully employees instead of landlords.
Actually Spore companies can make Malaysia their head offices. They could have done so long ago. But why they choose to remain in Spore despite high costs? Is the economic zone going to make any difference? Do companies consider Malaysia to be unsafe or not friendly to foreign companies?
Good for those electronics co. Make use of housewives to assemble things. So they don’t have time to be idle and gossip.
Pastor Kong is homophobic. So no donation.
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Of course, it is incomplete. How can it be complete without mentioning LGBTQ ?
We must not let them come in least as one forummer put it, they will turn this little red dot to pink pot.
LGBTQ is even more dangerous as your young boy are in danger of being molest and rape by them.
Remember Christian priest molesting/raping young boy under their care ?
Oppositions are truly free riders and I speak with facts based on my 8 years experience of volunteer.
They want everything FREE like Argentina which is a bankrupt nation.
https://www.tremeritus.net/2024/02/25/the-definition-of-insanity/
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That’s why we have to be on our guard and tighten our border security to prevent LGBTQ group from turning little red dot into pink dot.
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You are confusing homosexuals with pedophiles.
Homosexuals = same sex attraction. ie adult and adult.
Pedophile = an adult sexually interested in children.
But we host Pink Dot and the Dot is getting larger every year. It attracts lots of foreigners and foreign press.
Resistance is futile. End times are here. Muahahahaha!
See Malaysia so homophobic about the same sex kiss by the band The 1975. The Good Vibes Festival in Kulala Lumpur was cancelled after the two guys suck face.
The Malaysia opposition ask Anwar why Taylor Swift don’t wanna come sing in Malaysia. WHY ? WHY? Why why tell me why.
Like last time Lady Gaga’s concert in Indonesia did not happen because some religious groups threatened to disrupt the concert.
Malaysia got lots of restriction. Performers cannot dress in sexy gear that bare lots of skin. So that effectively means most western female pop stars are out. They all like to sing in bra and panties or equivalent.
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Interest rate of CPF does not make sense. Short term interest rate for risk free US treasury bonds 1 year Yield is around 4.939%, 10 Year US Treasury Rate is at 4.10% ,but OA is only 2.5%. The inflation rate is so high, eat away our CPF. OA 2.5% in high inflation period in 40 years mean CPF which eventually get is lesser.
Now today even SA and RA become 4.05% is below risk free 10 US year treasury rate 4.1%. Workers’ salary money cannot be use to cope with inflation but is lock up in CPF with no money freedom. Money losses due to high inflation and high interest rate of investment should be compensated. For so many years, people money are lock up in CPF, resulting in losses due opportunity cost, all that must compensated. Since 1 July 1955, this dictatorship way of controlling and sucking away all worker salary for force saving as CPF, must pay back people losses due to opportunity cost, for denying people freedom to use money to earn more money in many ways. People are already suffering with not enough salary and money is still deducted from them into CPF, it does not make sense. It is like people starving and still force to eat lesser. The consequences is many, the obvious is low birth as with less income, later marriage, less consumption and sufferings. All that must be compensated and payback for justices. It cannot be cover up and pretend nothing has happen as before, letting culprit escape punishment and victim injustice not addressed.
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Economics is not the same as E-CONnomic$.
We are told the higher the productivity,the higher the wages.
But in $ink-A-POOR,the HIGHER the WAGE$,the LOWER the productivity.
So comical.
Who says $cholars are serious folks.
In $in City,our -$cholars can really “joke”?!
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Just now at AMK HUB Kopitiam.
Walk around.
Check the prices of the fares offered by the stalls.Chicken rice minimum at $6.50.
Thai sliced fish rice at $8.90.
Etc,etc.cha
Walk out as did not want to support profiteering.
What are the MPs of AMK GRC doing about such elevated pricing on basic foods?
Profiteering will lead to more inflation ex-supply chain factor.
Ministers,what say you?
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On FT Policy.
Tell you one of my many encounters with FTs.
Many years ago,an Angmoh was sent to my department.
My big boss ,a sg who sucked up to Angmoh from HQ,introduced the Angmoh FT to me .
He told me to assign this Angmoh some areas of work saying that the Angmoh has expertise in a particular job scope within my department.
When I spoke to the Angmoh,he told me he had no knowhow at all.
You know what?
I sent him to a junior colleague whom I just taught ,a fresh local graduate.
I told the Angmoh FT to understudy my junior.
The Angmoh could not perform and asked to be transferred out to another department.
And then,there came Indians and pinoys who graduated with MBAs from Indian Inst. Of Management and NYU,UC,all the top units.
All also not great.
This is the truth.
In the past,I learnt from Real FTs.
But they were just called “EXPATRIATS”?
After PAP dumped “FTs” here,NATIONAL PRODUCTIVITY KEPT SLIDING LOWER.
THE SG MIRACLE WAS THE CONTROBUTION OF HIGHLY PRODUCTIVE SG-PMETs who got DISPLACED by the FT POLICY.
SG KILLED THE GEESE THAT LAID THE GOLDEN EGGS.
CLAP,CLAP,CLAP THE G FOR THE CRAP!
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It is said,”SPEED CAN KILL”.
And,COVID DID KILL too.
But let me tell you,GREED KILLS even more!
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No wonder Pa$tor Sun also love to sing in bra and panty.
Only people who lack strong substance will need to resort to showing cleavage to achieve fame.
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Foreign Talent may be a myth, but the Money is real.
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Some like Jennifer Lopez also includes mass orgy in their music videos like Dance Again.
I wonder how she explains to her kids. “oh mommy needs to be rolling on the floor with a lot of naked people for art’s sake.”
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It is now common knowledge that there are overwhelming PROPORTION OF NON-sgs PMEs with HIGH SALARIES IN OUR WORKFORCE.
So,it is important that Parliament discourses on how WITHDRAWALS from sgs’ NATIONAL RESERVES should be allocated should the G take money out in a future pa demic or for other situations.
The $600 that many deserving n needy sgs were only assigned was totally not equitable nor respectful of true citizenship of older nation-builders who gave been rendered jobless by unfair and reckless FT policy practices.
We owe our nation-builders an obligation.
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The world’s most expensive mousetrap designed by experts to trap white mice.
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Or field mice if the white ones are unavailable.
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The FT Policy has failed on 2 major fronts.
One,MORE sgs have their jobs robbed which is opposite of the slogan,” FTs create more jobs for sgs”.
Two,FTs have lowered our National Productivity.
Can any upright sg disagree?
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Higher $salaries.
But,of cour$e!
So,anymore “CBF” rea$ons to replace “expensive” sgs with “FTs”?
Tell you,long ago,THIRD WORLD “FTs” with fake credentials already got higher salaries than the sgs they replaced.
Re:DBS long-time staff post Lehman debacle.
Go check it out.
So,guess 35 year olds like FRENCH PM who is paid ONLY EURO$ 180K(about Sgd 265K) ANNUALLY should just come to $in City and earn much much more doing much much less !
So much for PRODUCTIVITY.
Instead of chasing limbo delivering food and drinks on their bicycles,young educated underemployed sgs should just stand for election as MP come GE.
Hopefully,if OPPO wins,they can earn millions of dollars.
Will ministerial pay be increased further?
Guess national leaders from France(is it a tiny speck,smaller than Little Red DOT) N even USA should flock here.
But,guess real world leaders do not merely “chase after money”.
There is more to public SERVICE.
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I used to be missed with LKY calling sgs daft but now I agree with our revered leader.
He was so right!
And,the more/higher educated sgs are,the more daft they are!
So you see,some of the Most Daft sgs are in govt or it’s agencies.
All they know is nothing beyond collecting more money to $quander.
And,so much for the FTs they help to Dump Here by the garbage-truckloads too!
All crappy as evidenced by the stubbornly low national productivity since SO-CALLED FTs were dumped here .
In the past,only good expatriats came here.
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It is reported that MOST OF THE CREW ON BOARD DALI are INDIAN-FTs.
Anyone has any idea this Sg-flagged cargo ship owned by Synergy was chartered out to an Indian / foreign company or used by Synergy itself?
We must ensure our FTs are truly ‘BETTERER’ than our own sgs be it in shipping,banking or IT.
But,since there are almost 40-45 pct Aliens here,WHY NOT MAKE A LAW TO ALLOW THEM TO RUN FOR GE N HOPEFULLY BECOME MINISTERS,FT-ministers???
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These days,Real Estate Brokers are breaking records by collecting more and bigger CONMISSIONS with property prices so elevated.
Young graduates from Commerce to Banking to Engineering prefer not to practise their respective professions but prefer to join companies like ERA,HUTTONS AND PROPNEX to make Millions.
Indeed,Commissions for sales of properties at between 2 to 4 pct is way too high and way too much for some simple leg-work.
Even the best Private bankers or Forex Traders in the bank earn much less?!
Meanwhile,sgs suffer the high commissions.
If you are damn rich like our minister$ ,it is peanuts but not so for common citizens.
Time for our govt to relook at the way co.missions are levied on property transactions.
OhMyHome charges only 1 pct.
And,that is quite a lot already.
Please bring down the commission charges.
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@Banker vs Broker
You are right.
I am thinking of changing job to broking houses.
As contractor,I earn very little.
After signing contract,prices ofraw materials rise and rise and I lost a lot of money last few years.
As brokers,with house prices so high and rentals so high too,the 2 pct I earn can be more than my contractor fees.
I will take the CEA exam and after that,I go become broker.
Many brokers I know drive BMWs.
Some Ferari and Maserati,better than businessmen like me.
They so young like under 35 years old.
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This ASEAN’s member PM saves Malaysian govt cost by taking NO SALARY SINCE TAKING OFFICE IN NOV 2022.
And,just across Cau$eway,ministerial salaries are higher than even the POTUS.
Sg must be a such a huge COUNTRY like a CONtinent ?
When ministerial pay was much lower,sgs were much happier.
Now that ministers are much more financially HAPPY,sgs are more unhappy?
Something must be in inequilibrium here.
Go figure.
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