Read more at https://www.channelnewsasia.com/news/singapore/two-senior-civil-servants-to-step-down-including-incoming-smrt-10314190
(Updated: )
Foong Mun Loh
more Jiak Liao Bees replacing retiring ones............retiring as millionaires after contributing less than the late Ah Meng............
Stella Wong
If they are jiak liao bees then you are what? Haha
They are CEOs of companies, why cannot retire as millionaires?
If CEOs dont retire as millionaires, then there is a problem with meritocracy in SG liao
use your brain. not your butt to think
Own failure dont blame Gov
or better still, dont be jealous of successful people
We are not running a communist country, where cleaners take home same pay as CEOs
They are CEOs of companies, why cannot retire as millionaires?
If CEOs dont retire as millionaires, then there is a problem with meritocracy in SG liao
use your brain. not your butt to think
Own failure dont blame Gov
or better still, dont be jealous of successful people
We are not running a communist country, where cleaners take home same pay as CEOs
Lynn Lee ·
Stella Wong ,
CEO can be millionaires or billionaires, provided they can ‘create’ and deliver that type of values. But these are just scholars employed to run a big corporation, with limited success.
Many of them failed public KPI.
Their worth is more like ability to take insult and public outcry without breaking down, kowtow to their skin thickness.
You dont even need a butt to think such simple logic.
CEO can be millionaires or billionaires, provided they can ‘create’ and deliver that type of values. But these are just scholars employed to run a big corporation, with limited success.
Many of them failed public KPI.
Their worth is more like ability to take insult and public outcry without breaking down, kowtow to their skin thickness.
You dont even need a butt to think such simple logic.
Mohsin Selamat
Stella Wong Its ok to be paid millions if you perform... but I cant say the same for these guys. Most CEO's or alike are just seat warmers hired not for their talents but their social connections especially those in gov related companies. There aren't any real meritocracy at play here. Modern businesses need innovative minds to be successful... not authorative ones. Most successful companies are helmed by innovative people. Just look at Google or Apple. The skills of the CEOs are atuned to the products they are selling and they know the industry and their consumers base very well.
Stella Wong
Lynn Lee
Our framework of choosing leaders are heavily based on academic credentials
Just like how local universities are recognised over private universities
Scholars have proven their ability and also have a track record
If not for scholars, then who else?
People whom have no track record?
Meritocracy is one of the pillars of SG
We get the best man for the most impt jobs
Our framework of choosing leaders are heavily based on academic credentials
Just like how local universities are recognised over private universities
Scholars have proven their ability and also have a track record
If not for scholars, then who else?
People whom have no track record?
Meritocracy is one of the pillars of SG
We get the best man for the most impt jobs
Peter Jager Russel ·
Stella Wong We have no qualm they take billions if they can be Elon Musk or Bill Gates.. however they are not even close. And that academic elitism are scorn by many Singaporean for that they just collect their pay cheques but unlike the old patriot who set the goals and achieve the standard what most Singaporean inherited now. So don,t scorn a CEO of S$5million company company and measure one of a S$500 millon turnover. It is easier to be parachuted into a $500 million company then a $5 million company,, because non of our politician have really been through buidling a company from scratch. And it is easier to run a $500 million company. .Don,t take the statement from someone who have never in the team of a start-up.
Ricky Lim ·
Ricky Lim ·
Singapore
Singapore is the 3rd highest per capita GDP in the World.
Singapore per capita GDP is higher than many developed Countries like US, EU, China, Japan, S Korea, Taiwan, ASEAN etc.
And Singapore rank very high as the least corrupt Country in the World.
Singapore Soverign Funds - are among the top 5 funds.
Singapore
Singapore is the 3rd highest per capita GDP in the World.
Singapore per capita GDP is higher than many developed Countries like US, EU, China, Japan, S Korea, Taiwan, ASEAN etc.
And Singapore rank very high as the least corrupt Country in the World.
Singapore Soverign Funds - are among the top 5 funds.
Singapore Economy is the most competitive in the World - according to World Competitive Report.
Singaporeans owning houses exceed 90% - among the highest in the World.
Not trying to howlian here --- but Singapore bashing has go on for too long - and need to be retaliated to put things in proper perspective.
Like · Reply · 1m · Edited
Let see Singapore Inc. are Jiak Liao Bee or not.
Or some individuals are Jiak Liao bee.
Singaporeans owning houses exceed 90% - among the highest in the World.
Not trying to howlian here --- but Singapore bashing has go on for too long - and need to be retaliated to put things in proper perspective.
Like · Reply · 1m · Edited
Let see Singapore Inc. are Jiak Liao Bee or not.
Or some individuals are Jiak Liao bee.
Like · Reply · 1m
Ricky Lim ·
Jiak Liao Bees blame others for their own failure.
Successful people overcome difficulties and create their own success.
Those who complain alot and blame Government for their failures - are most probably the Jiak Liao Bees.
Successful people don't complain and blame others - but overcome their difficulties through resourcefulness, creativity, determination and grit.
This is how Singapore become successful - with zero resources.
Successful people overcome difficulties and create their own success.
Those who complain alot and blame Government for their failures - are most probably the Jiak Liao Bees.
Successful people don't complain and blame others - but overcome their difficulties through resourcefulness, creativity, determination and grit.
This is how Singapore become successful - with zero resources.
Like · Reply · 2m
Ricky Lim ·
It is easy to spot those Jiak Liao Bees on the Board --- just look at their postings, the blame that they attribute to, the complains they make ---- will give them away.
Like · Reply · 1m
Suhail Sham
GDP doing well does not mean most are doing well. The GDP is skewed as it also includes the salaries of millionaires which in turn inflates the national wage. Singapore is well known for the congregation of millionaires here that pushes up GDP making it look as if most Singaporeans are not struggling or on the edge of poverty line.
Suhail Sham
What track record? The only track record our scholars have is only in theoretical academic achievement. Has our so called Top education aye created a Bill Gates, Steve jobs, Steve Wozniak? No? Our education system is a terribly outdated model. For the record both Bill Gates & Steve Jobs quit their scholarly pursuit in the middle of tgeir universities and shown to the world their track record-breaking creating a company from scratch, innovative, creative and dares to challenge the status quo- which.non of our scholars can.
Sonatan Peter
Suhail Sham Last year, I read from a local news report mentioned that there are roughly 70,000 millionaires here.
Greg Lim
Stella Wong There is NO communist countries in this world. ...Socialist .YES...there r plenty who WORSHIP the RICH n POWERFUL like u...n satisfied with the crumbs fr their ground...!!!
Like · Reply · 1 · 1h
Ricky Lim ·
Average wealth of S’poreans, including assets, the highest in Asia: Credit Suisse
By ALISON JENNER
TODAY file photo
TODAY file photo
Published22 NOVEMBER, 2016UPDATED 22 NOVEMBER, 2016
1626 Shares
SINGAPORE — Despite a slowing economy and uncertain labour market, Singapore’s adult population has an average wealth of about US$276,885 (S$395,000) per person — up 1.4 per cent compared with the middle of last year, an annual wealth report by the Credit Suisse Research Institute found.
The Global Wealth Report ranked the Republic top in Asia and seventh globally among major economies.
Personal wealth per adult in Singapore is forecast to rise 2.2 per cent per annum to reach US$309,000 in 2021, the study added. It also noted that Singapore’s personal wealth per adult was “well ahead” of Hong Kong, which had US$185,281 average wealth per adult and was ranked above Singapore in 2000.
Financial assets — which include items such as currency, deposits and equities — accounted for more than half of the average wealth per adult in Singapore at US$180,414. Non-financial wealth, including assets such as housing, accounted for US$151,239. The average debt was US$54,768, or 17 per cent of total assets, moderate for a high-wealth country, the report said.
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In terms of median wealth per adult, Singapore was placed ninth globally with US$101,000 — behind countries such as Switzerland (US$244,000), Australia (US$163,000), New Zealand (US$136,000) and Japan (US$120,000). The report noted that ranking by median wealth per adult “favours countries with lower levels of wealth inequality”.
The report found that wealth distribution in Singapore is “moderately unequal”: 18 per cent of its adult population has wealth below US$10,000, compared with 73 per cent globally. Half of its adults has wealth above US$100,000, compared with 21 per cent in 2000. Correspondingly, those with wealth below US$100,000 have declined from 79 per cent to 50 per cent over the same period.
On Monday, Prime Minister Lee Hsien Loong spoke about the distribution of wealth during an interview with the Singapore media to wrap up the Asia-Pacific Economic Cooperation Economic Leaders’ Meeting held in Peru. Mr Lee said Singapore’s emphasis is on giving people the skills to help them in the new economy, and giving those who are not doing well an extra leg-up. “If you’re in Singapore, not everybody is equally well off, but even if you’re not well off, you’re not badly off,” Mr Lee had said.
CIMB Private Banking economist Song Seng Wun said that Singapore’s government is very particular about making sure that, while the country is not the cheapest place to live in and while there are many wealthy individuals here, the middle- to lower-income groups are not left behind.
“The thing about the policies here are that they are very targeted. Not many countries can do that,” he added. “Recent years have seen policies targeting those at the higher end to give back more, whereas for the lower income, policies are deliberately targeted at household type.”
In its seventh year, the Global Wealth Report was compiled from data on the wealth holdings of 4.8 billion adults across more than 200 countries. It used data from household balance sheet, publicly available data on distribution of wealth as well as information from Forbes magazine’s rich lists.
In the latest report, Switzerland retained first place, with an average wealth per adult of US$562,000, down 4.5 per cent compared with the same period last year.
Australia (US$376,000) and the United States (US$345,000) came in second and third, respectively. Norway (US$312,000) and New Zealand (US$299,000) rounded up the top five.
Average wealth per adult in the United Kingdom tumbled more than 10 per cent to US$289,000. The UK was ranked sixth, one place ahead of Singapore. The report found that the UK is US$1.5 trillion poorer in dollar terms due to the fall in the pound since the vote to leave the European Union.
It also highlighted the growth of wealth in emerging economies since 2000. Back then, these economies accounted for a mere 12 per cent of global wealth. However, they have contributed nearly 25 per cent towards global growth since.
“Today, emerging nations are home to 18 per cent of the world’s ultra-high net-worth population. China alone accounts for 9 per cent of the top decile of global wealth holders, which is well above France, Germany, Italy, and the United Kingdom.”
By ALISON JENNER
TODAY file photo
TODAY file photo
Published22 NOVEMBER, 2016UPDATED 22 NOVEMBER, 2016
1626 Shares
SINGAPORE — Despite a slowing economy and uncertain labour market, Singapore’s adult population has an average wealth of about US$276,885 (S$395,000) per person — up 1.4 per cent compared with the middle of last year, an annual wealth report by the Credit Suisse Research Institute found.
The Global Wealth Report ranked the Republic top in Asia and seventh globally among major economies.
Personal wealth per adult in Singapore is forecast to rise 2.2 per cent per annum to reach US$309,000 in 2021, the study added. It also noted that Singapore’s personal wealth per adult was “well ahead” of Hong Kong, which had US$185,281 average wealth per adult and was ranked above Singapore in 2000.
Financial assets — which include items such as currency, deposits and equities — accounted for more than half of the average wealth per adult in Singapore at US$180,414. Non-financial wealth, including assets such as housing, accounted for US$151,239. The average debt was US$54,768, or 17 per cent of total assets, moderate for a high-wealth country, the report said.
ADVERTISEMENT
In terms of median wealth per adult, Singapore was placed ninth globally with US$101,000 — behind countries such as Switzerland (US$244,000), Australia (US$163,000), New Zealand (US$136,000) and Japan (US$120,000). The report noted that ranking by median wealth per adult “favours countries with lower levels of wealth inequality”.
The report found that wealth distribution in Singapore is “moderately unequal”: 18 per cent of its adult population has wealth below US$10,000, compared with 73 per cent globally. Half of its adults has wealth above US$100,000, compared with 21 per cent in 2000. Correspondingly, those with wealth below US$100,000 have declined from 79 per cent to 50 per cent over the same period.
On Monday, Prime Minister Lee Hsien Loong spoke about the distribution of wealth during an interview with the Singapore media to wrap up the Asia-Pacific Economic Cooperation Economic Leaders’ Meeting held in Peru. Mr Lee said Singapore’s emphasis is on giving people the skills to help them in the new economy, and giving those who are not doing well an extra leg-up. “If you’re in Singapore, not everybody is equally well off, but even if you’re not well off, you’re not badly off,” Mr Lee had said.
CIMB Private Banking economist Song Seng Wun said that Singapore’s government is very particular about making sure that, while the country is not the cheapest place to live in and while there are many wealthy individuals here, the middle- to lower-income groups are not left behind.
“The thing about the policies here are that they are very targeted. Not many countries can do that,” he added. “Recent years have seen policies targeting those at the higher end to give back more, whereas for the lower income, policies are deliberately targeted at household type.”
In its seventh year, the Global Wealth Report was compiled from data on the wealth holdings of 4.8 billion adults across more than 200 countries. It used data from household balance sheet, publicly available data on distribution of wealth as well as information from Forbes magazine’s rich lists.
In the latest report, Switzerland retained first place, with an average wealth per adult of US$562,000, down 4.5 per cent compared with the same period last year.
Australia (US$376,000) and the United States (US$345,000) came in second and third, respectively. Norway (US$312,000) and New Zealand (US$299,000) rounded up the top five.
Average wealth per adult in the United Kingdom tumbled more than 10 per cent to US$289,000. The UK was ranked sixth, one place ahead of Singapore. The report found that the UK is US$1.5 trillion poorer in dollar terms due to the fall in the pound since the vote to leave the European Union.
It also highlighted the growth of wealth in emerging economies since 2000. Back then, these economies accounted for a mere 12 per cent of global wealth. However, they have contributed nearly 25 per cent towards global growth since.
“Today, emerging nations are home to 18 per cent of the world’s ultra-high net-worth population. China alone accounts for 9 per cent of the top decile of global wealth holders, which is well above France, Germany, Italy, and the United Kingdom.”
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