PAP will never build a core Singaporean workforce

At a forum on integration organized by the German think tank, Konrad Adenauer Stiftung, and PAP-affiliated Institute of Policy Studies, PAP MP Zainuddin Nordin who is also chairman of OnePeople.sg, once again parroted his Party’s vacuous message that it was important to build a core Singaporean workforce.

Zainuddin and the PAP’s message rings hollow when one looks at the financial sector which continues to hire foreign PMETs in large droves.

The predilection among many foreign and some local banks for foreign PMETs is personified in this statement by the former CEO of Standard Chartered Bank in Singapore, Mr Ray Ferguson:

“If you look at it from our point of view itself, we would not have been able to grow to be where we are if we had said that we got to have a Singaporean-only focus (in hiring) for the last 20 years.”

So as a reflection of that, it is not surprising that out of the three local banks here, two have foreigner CEOs.

And Standard Chartered Bank which recently locally incorporated its Consumer Banking arm has again hired a foreign Indian national to replace Ray Ferguson who has gone on to join Arab Bank in Bahrain.

Last but not least, we wonder what Zainuddin Nordin has to say about Singpost and its 39 year old Austrian CEO?

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