I read the so-called ministerial statements of both Tan See Leng and Ong Ye Kung on the CECA and am filled with so much anger I have to write this.
This bunch of idiots and their MOM minions dare say the CECA has not allowed a free movement of Indian nationals in S’pore’s PMET segment?
I want to call out their bullshit based on my personal experience.
I have been working in the financial sector for 15 years and saw for myself how the sector was inundated by Indian “professionals” who started streaming in from around 2007. In a matter of years, this became a flood.
This happened right before my eyes in the bank where I worked.
During my time, you could see certain departments filled with just Indian nationals. In 1 such department, there were 23 staff. Of the 23 staff, 22 were from India and the remaining 1 was a Chinese but based in HK.
The investment and retail side were also dominated by Indian nationals. Not surprising because the heads of both divisions were also from India. And on top of them, there was an overall Chief Executive of Asia who was also from India.
This certainly validates the anecdotal observation that these people hire their own and what better place than S’pore to do this, with the CECA allowing them to transfer their compatriots in under the Intra-Corporate Transfer route.
Hence, when people refer MBFC as Mumbai Financial Centre or CBP as Chennai Business Park, it’s really not a joke. You just have to go there during lunch time or tea-break at around 4 pm to see for yourself.
Eventually, I was so dismayed by this state of affairs that I decided to leave that place.
Nothing much has changed since I left. You just need to go LinkedIn to look through the employees of many foreign banks to see for yourself.
Given tonight’s rhetoric by the PAP ministers, I really doubt things will change for the better. The real solution to this is to have a stronger Opposition presence in the Parliament to force the PAP to account for their policies and decisions. We can’t afford to let them have even half a blank cheque now.
A Concerned S’porean who wrote in to The Alternative View