Tag Archives: FT

WHAT DOES IT FEELS LIKE FOR A FOREIGNER TO WORK IN SINGAPORE?

I'm perhaps a bit of an anomaly, as I don't work directly with Singaporeans for the most part, nor do I do much work for Singaporean companies. As an ex-pat, I'm located here because it is advantageous for the global technology services firm I work for to position sufficient people here working on deals across Asia to qualify for very low corporate taxes. As such, I'm working on deals for Japan and Australia with resources from China and India more than anything else. My answer comes from this context.

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SENIOR MANAGEMENT OF MNC BANKS STILL DOMINATED BY FOREIGNERS

The media reported today (24 Sep) that despite more Singaporeans being appointed regional heads and senior managers at international banks both in Singapore and abroad, not many go on to take on top positions. In June 2014, for example, Mr Shee Tse Koon, 44, was appointed Standard Chartered’s chief executive for Indonesia. The same month, Mr Tan Kock Kheng, 54, was appointed Citi’s global head of local markets risk treasury. Senior bank executives say that while such appointments are encouraging, more can be done to help nurture a more globally competitive workforce here.

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INDIAN PRESSURING SG GOVT TO LET IN MORE INDIAN BANKS AND PROFESSIONALS

India’s leading business daily, the Business Standard, published a news report last Tuesday (2 Sep) revealing that the Indian government has been continuing to raise issues with the Singapore government to allow more of its banks as well as its Indian professionals to enter Singapore (‘Singapore in no hurry to review economic pact with India‘). It reported that Singapore has been stalling to conclude the second review of the Comprehensive Economic Cooperation Agreement (CECA) for more than 4 years now.

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FT student admission to Yale-NUS up from 38% to 40%

Yale-NUS College issued a statement on Tuesday (17 Jun) [Link] revealing that it had offered 177 outstanding students from around the world to form the Class of 2018. This is the second batch of students it is admitting. These students come from 35 different countries. In all, Yale-NUS attracted over 12,000 applications compared to 11,400 applications last year. It did not reveal how many of the applications were from Singapore.

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Singapore could suffer if foreign managers return home

It would be unsurprising should this come at a cost to our national identity, should non-Singaporeans living here eventually leave when prospects in their home countries improve. At the same time, local graduates who encounter problems entering the workforce here might decide to work overseas, resulting in a brain drain, aggravating the problems brought about by our ageing population. Those who stay might face a lack of opportunities to develop their skills. Should the day come when non-Singaporean professionals leave, Singapore could suffer from a shortfall in skilled middle- and upper-level managers in our workforce.

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Crane operator complaints of too many foreigners in the industry pushing down salary

As we all can remember, somewhere about 1 year ago, this was a pretty hot topic with headlines like “$4000 basic and $7000 salary for Crane Operators in Singapore”. The response was overwhelming. There were hundreds (or even thousands) of local sign- ups. The waiting period for the course was like 6 months and beyond. The course fees went up and that did not discourage locals from signing up. Well, as far as I can remember (correct me if I’m wrong), when I joined this trade in 2012, I was told that this position was reserved for locals and PR! In 2012, when I joined the industry, I saw foreigners holding S-Pass in the trade. Perhaps there’s not enough operators, so the government lossens the rules a little. The salary also decreases as a result.

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Singaporeans do not wish to rent their houses to PRCs and Indian FTs

If you are an Indian FT in Singapore and looking for a house on rent, it is highly likely that you won't get one. Most Singaporean landlords don't rent their house to Indians and people from mainland China. According to local media reports, many landlords are open about it. The moment they realize that the tenant is an Indian, they say sorry and slam the door.

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In Singapore, citizens don’t want babies — or foreign workers, either

In Singapore, the place where most people go to make the biggest decision in their lives — other than, arguably, their choice of a spouse — is the headquarters of the Housing Development Board. It's a get-a-room, one-stop shop: Browse the planned communities depicted in glass-enclosed models on the first floor, pick out your unit at the staged showrooms three floors up, and descend again to line up your financing and apply for a spot.

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