More Singaporeans getting help to deal with rising costs, public sector report shows
Read more at https://www.channelnewsasia.com/news/singapore/spor-report-more-singaporeans-getting-help-11048592
20 Dec 2018 12:56PM (Updated: 20 Dec 2018 01:00PM)

Ricky Lim

This shows that there is a greater redistribution of wealth :-
(1) to share the fruits of economic growth and economic wealth

(2) redistribution of wealth to help the lower income and the middle income group - through benefit transfer to cope with higher cost of living

(3) upper income group is not hold back - as it race further by earning more income

(4) The Nation has been reaping gains from higher productivity through automation and industrialisation - by seeing a continuous growth in GDP with the same number of workforce.
This show that the ITM (Indutrial Transformation Map) program to transform business and workers skillsets are on the right track and is bringing very positive results.

Productivity rate improve from 1.4% (1st increase in history) to 4.5% - spectacular and stellar increase.
The more benefit transfer is one way to mitigate - social inequality, income inequality and tackle the effects of social class division.

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Ricky Lim

Ricky Lim ·
Singapore
Source of Origin of ITM :-

Ricky Lim ·
Singapore
The following is posted on:-

Tuesday, 1 May, 2012 2:57 PM
Ricky Lim
REACH RWEB Submission feedback RWEB2012050100010 via the REACH website: To raise productivity,

To raise productivity, everyone has a part to play :-
1. Business invest in capital tools and send workers for training
2. Workers upgrade skills to operate capital tools
3. Govt provide grants, provide good education, married govt R&D bodies with business etc
4. Government work with various industry to devise objective and tangible KPI to allow business, workers, union, gov, schools etc to shoot for the KPI.
5. Govt, business, bright individuals should scout overseas countries and industries that have make their industries productive and bring it back to Singapore and transform our business to be more productive.
6. Union encourage, provide relevant course for workers to upgrade
7. School train students in right course, right skills and married industry with courses.
8. Home, family members, social bodies have to support working members to provide a conducive environment for working members to be productive.
9. Look at whatever else things that can make the nation productive, to be productive.
10. Peg the wage increase vis-à-vis our regions, our competitors, our international competition to ensure that our wage increase are competitive and will not drive away business – causing massive job losses.

Sent: Tuesday, 1 May, 2012 3:24 PM
To: reachadmin@reachadmin.com
Subject: REACH RWEB Submission: Govt agenices working with industries to devise prodictivity figures

To elaborate further :-
(1) Ministry of Comm and iDA – should work with IT industries, foreign IT MNCs, local IT vendors etc to devise objective, tangible KPI productive figures in each technology areas and skillsets vis-à-vis global competition and regional competition – so that IT business and IT workers can target to meet the KPI productivity figures – and peg wage growth in % term and/or absolute term to the productivity figures and business profitability. Communicate this to the IT industries, business, IT workers, Union and schools. Make sure we are competitive with our global competitors and regional competitors.
(2) SLA should do the same with construction sector.
(3) Ministry of Finanace and MAS should work with the banking and financial sector. etc

ricky l
0Thumbs UpThumbs Down0Ricky L • a second agoRemove
That is, the concept above is how to transform Singapore Economy in 2016 - sector-by-sector (conceptualising the KPI for each sector) ---- and using targeted approach to transform each sector, each industry one by one.

Only then productivity in each sector, in each industry can be successfully transformed - supported by empirical, scientific measures.

Good that after 4 years --- the idea is taken up.
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Ricky Lim ·
Singapore
The origin of Industry Transformation Map (ITM).......................
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Breeke Lo

Ricky Lim wah! Are you serious? 2012?? U 👍👏

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Ricky Lim

Breeke Lo -
(1) you see Mincom (2012) - now is call Ministry of Communications and Information: MCI (2018)
(2) you see iDA (2012) - now is call GovTech and IMDA (2018)

-- who say social media cannot influence National Events and World Events?

(1) At that time, productivity rate is always less than 1%, many of times in negative territory.
(2) At that time, we have to rely on low cost workers - to produce economic growth.
(3) No one at that time - ever dare to try to transform businesses and train workers skillsets that can grossly bring about real productivity growth (because at that time, Leaders say it is an "uncharted water"
--- and i realise that we have used "broad brush" --- across the industry approach and programmes are not focus per industry - to push productivity growth. As such it is difficult to achieve "transformative result" per industry, per business.

---- i realise unless transformation are done industry by industry --- business transformation and workers' productivity --- can really take off.

Hence the above "proposal" ---- and indeed it brought about a spectacular result --- 1.4% (historic productivity growth).
And now 4.5% -- stellar, spectacular productivity growth --- never ever achieved such an achievement.

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Breeke Lo

Ricky Lim yes yes .. i said u 👍 right

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