Singaporeans can save on travel. PAP bring the world to SG. Just open your door is China. Travel to work is India. Go makan is Malaysia. Go hospital is flipping.
Travel Bubbles are being planned with a few countries.
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East Coast Plan unveiled
- Thread starter A Singaporean
- Start date
Travel Bubbles are being planned with a few countries.
Singaporeans can save on travel. PAP bring the world to SG. Just open your door is China. Travel to work is India. Go makan is Malaysia. Go hospital is flipping.
Being in Singapore is like being a travelling salesman.
from mustsharenews.com:
12 Heng Swee Keat Facts To Know Your Potential Prime Minister Better
7. Dedicated to his work
After suffering a stroke in May 2016, Mr Heng was in a coma for 6 whole days.
The first thing on his mind upon awakening from the coma? Work.
Despite not being able to talk, he scribbled on a note,
Is there a Cabinet meeting today? Where are the papers?
Mr Heng ended up spending 6 weeks in Tan Tock Seng hospital due to his stroke, but promptly resumed his duties as Finance Minister just 3 months later.
Source
Talk about a man who’s dedicated to his work.
12 Heng Swee Keat Facts To Know Your Potential Prime Minister Better
7. Dedicated to his work
After suffering a stroke in May 2016, Mr Heng was in a coma for 6 whole days.
The first thing on his mind upon awakening from the coma? Work.
Despite not being able to talk, he scribbled on a note,
Is there a Cabinet meeting today? Where are the papers?
Mr Heng ended up spending 6 weeks in Tan Tock Seng hospital due to his stroke, but promptly resumed his duties as Finance Minister just 3 months later.
Talk about a man who’s dedicated to his work.
from straitstimes.com:
Review of growth strategy for 23 sectors to be completed by next year, says DPM Heng
SINGAPORE - The growth strategies of 23 industries here will be reviewed by next year to take into account changes brought about by the Covid-19 pandemic, Deputy Prime Minister Heng Swee Keat said on Monday (April 5).
Responding in Parliament to questions on the progress of the Industry Transformation Maps (ITMs), Mr Heng, who is also Finance Minister, said the review aims to build on the progress made under the ITMs since they were launched in 2016.
Mr Heng said that Covid-19 has accelerated long-term structural trends such as digital transformation, a review of globalisation and a focus on sustainability.
"For each of the 23 ITM sectors, we will update our sectoral strategies to create and seize opportunities through digitalisation, innovation, internationalisation, upskilling of workers and job redesign, with the aim of uplifting the productivity and wages of our workers, and creating good jobs for Singaporeans. We target to complete this by next year," said DPM Heng.
He added that the review will be complemented by the work of the Emerging Stronger Taskforce and the Singapore Together Alliances for Action, "which have served as pathfinders to help us seize immediate opportunities, even amid Covid-19".
The 23-member Emerging Stronger Taskforce is in charge of charting Singapore's post-pandemic economic recovery, while the Alliances for Action are industry-led coalitions tasked with devising ideas and generating jobs in areas such as sustainability, robotics and education technology.
Mr Heng said there has been "encouraging progress" since the ITMs were launched in 2016.
"Singapore's overall labour productivity, as measured by real value-added per actual hours worked, rose by 2.7 per cent per annum from 2016 to 2019, up from 2.2 per cent in the preceding three years," he said.
He added that real median income from work of full-time Singaporeans, including employer Central Provident Fund contributions, rose by 3.7 per cent per annum from 2016 to 2019 - higher than the 3.2 per cent per annum growth in the preceding three years.
"Up to 2019, our ITMs have been progressing well, with most of them on track to meet their targets. Unfortunately, Covid-19 has disrupted this progress," said DPM Heng.
He said that some of the ITM sectors, such as air transport, hotels and retail, were badly hit and will take time to recover, prompting the series of support measures to help them stay resilient.
"Ultimately, we transform our economy for the benefit of our people. Our ITMs chart the path forward for each sector to be competitive, so that our people can access good jobs and opportunities which improve their lives," he said.
Mr Heng added that specific attention is given to mid-career workers to help them stay employable, and he also noted the key role that tripartite partners play in ensuring business and workplace transformation.
For example, Workforce Singapore has worked with government agencies and industry players to develop Jobs Transformation Maps providing detailed insights on the impact of technology and automation.
The labour movement has also been working with businesses to establish company training committees to help workers upgrade while supporting their companies' transformation, said Mr Heng.
He also highlighted the labour movement's Job Security Council, which matches and places workers in jobs, minimising retrenchments and shortening unemployment periods for workers.
"The Government is acutely aware of the plight of vulnerable workers who have been hardest hit by the pandemic. We have therefore been providing additional support for these workers who require more time and effort to reskill, upskill and rejoin the workforce," said DPM Heng.
He cited the Jobs Growth Incentive, to which the Government allocated another $5.2 billion during the recent Budget to extend the hiring window by seven months.
More support is given to employers who hire mature local workers, people with disabilities and ex-offenders, added Mr Heng, while the Senior Employment Credit provides wage offsets for businesses that employ local workers aged 55 and above.
Review of growth strategy for 23 sectors to be completed by next year, says DPM Heng
SINGAPORE - The growth strategies of 23 industries here will be reviewed by next year to take into account changes brought about by the Covid-19 pandemic, Deputy Prime Minister Heng Swee Keat said on Monday (April 5).
Responding in Parliament to questions on the progress of the Industry Transformation Maps (ITMs), Mr Heng, who is also Finance Minister, said the review aims to build on the progress made under the ITMs since they were launched in 2016.
Mr Heng said that Covid-19 has accelerated long-term structural trends such as digital transformation, a review of globalisation and a focus on sustainability.
"For each of the 23 ITM sectors, we will update our sectoral strategies to create and seize opportunities through digitalisation, innovation, internationalisation, upskilling of workers and job redesign, with the aim of uplifting the productivity and wages of our workers, and creating good jobs for Singaporeans. We target to complete this by next year," said DPM Heng.
He added that the review will be complemented by the work of the Emerging Stronger Taskforce and the Singapore Together Alliances for Action, "which have served as pathfinders to help us seize immediate opportunities, even amid Covid-19".
The 23-member Emerging Stronger Taskforce is in charge of charting Singapore's post-pandemic economic recovery, while the Alliances for Action are industry-led coalitions tasked with devising ideas and generating jobs in areas such as sustainability, robotics and education technology.
Mr Heng said there has been "encouraging progress" since the ITMs were launched in 2016.
"Singapore's overall labour productivity, as measured by real value-added per actual hours worked, rose by 2.7 per cent per annum from 2016 to 2019, up from 2.2 per cent in the preceding three years," he said.
He added that real median income from work of full-time Singaporeans, including employer Central Provident Fund contributions, rose by 3.7 per cent per annum from 2016 to 2019 - higher than the 3.2 per cent per annum growth in the preceding three years.
"Up to 2019, our ITMs have been progressing well, with most of them on track to meet their targets. Unfortunately, Covid-19 has disrupted this progress," said DPM Heng.
He said that some of the ITM sectors, such as air transport, hotels and retail, were badly hit and will take time to recover, prompting the series of support measures to help them stay resilient.
"Ultimately, we transform our economy for the benefit of our people. Our ITMs chart the path forward for each sector to be competitive, so that our people can access good jobs and opportunities which improve their lives," he said.
Mr Heng added that specific attention is given to mid-career workers to help them stay employable, and he also noted the key role that tripartite partners play in ensuring business and workplace transformation.
For example, Workforce Singapore has worked with government agencies and industry players to develop Jobs Transformation Maps providing detailed insights on the impact of technology and automation.
The labour movement has also been working with businesses to establish company training committees to help workers upgrade while supporting their companies' transformation, said Mr Heng.
He also highlighted the labour movement's Job Security Council, which matches and places workers in jobs, minimising retrenchments and shortening unemployment periods for workers.
"The Government is acutely aware of the plight of vulnerable workers who have been hardest hit by the pandemic. We have therefore been providing additional support for these workers who require more time and effort to reskill, upskill and rejoin the workforce," said DPM Heng.
He cited the Jobs Growth Incentive, to which the Government allocated another $5.2 billion during the recent Budget to extend the hiring window by seven months.
More support is given to employers who hire mature local workers, people with disabilities and ex-offenders, added Mr Heng, while the Senior Employment Credit provides wage offsets for businesses that employ local workers aged 55 and above.
from straitstimes.com:
New Bill will allow Govt to borrow up to $90b for long-term national infrastructure projects
SINGAPORE - A new Bill introduced on Monday (April 5) will pave the way for the Government to pay for major national infrastructure projects through borrowing, something that has not been done since the 1990s.
The proposed Significant Infrastructure Government Loan Act (Singa) will allow the Government to borrow up to $90 billion to pay for infrastructure that will last for at least 50 years. This means the cost will be spread out over many years, with each generation that benefits bearing part of it.
Said Deputy Prime Minister Heng Swee Keat in a Facebook post shortly after he tabled the draft law, which will be debated when Parliament sits next month: "Singa will allow the Government to borrow to finance nationally significant infrastructure that is critical for our long-term development.
"We are making significant investments in the coming years - such as the Cross Island and Jurong Region MRT lines, and the Deep Tunnel Sewerage System.
"Borrowing for nationally significant infrastructure will spread this lumpy expenditure across the generations who will benefit. This is equitable across generations."
Singapore last borrowed for infrastructure in the 1970s and 1980s, to pay for the large upfront costs of building Changi Airport as well as the Republic's first MRT lines. By the 1990s, with the economy growing rapidly, the Government paid for infrastructure in full from its revenue.
The country now faces another hump in its development spending needs, with plans for new rail lines and coastal protection measures against rising sea levels.
This comes amid a tighter fiscal situation, exacerbated by the Covid-19 pandemic. Singapore is expected to record a Budget deficit of $64.9 billion in the 2020 financial year, and is expecting to record another deficit of $11 billion in the 2021 financial year.
During his Budget statement in February, Mr Heng mooted the idea of borrowing to fund major infrastructure projects, explaining that it made sense with interest rates close to zero.
He added that it was also a fair approach, as it would allow costs to be spread out among the generations of people who will benefit from the infrastructure.
He said safeguards will be in place so that the money borrowed is used sustainably and responsibly.
The draft law specifies the types of projects that qualify, and limits the amount that can be borrowed.
First, only certain "nationally significant infrastructure" can be funded under the law. This is infrastructure that supports national productivity or Singapore's economic, environmental or social sustainability. Examples include major highways, structures to supply, recover and treat water, and structures - such as sea walls, groynes, dykes, floodgates, barrages and coastal pumping stations - to mitigate risks from coastal hazards.
Such infrastructure must last for at least 50 years so as to benefit multiple generations. It must also be owned by the Government and be controlled by it, or on its behalf.
Another criterion is that the expected cost of the infrastructure project should be at least $4 billion.
Second, to avoid onerous financing costs for future generations, the Government can raise only up to $90 billion of loans in total under the proposed law. This comes up to slightly under 20 per cent of today's gross domestic product.
The Ministry of Finance (MOF) said the amount is calculated based on expected expenditure needed to develop nationally significant infrastructure over the next 15 years.
There is also an annual interest threshold of $5 billion. Once it is breached, the Government will not be able to raise any more loans under the proposed law in the next financial year.
These limits can be changed only by passing a new Bill in Parliament to amend Singa, said MOF, adding that this is to hold the Government of the day accountable if it wants to borrow beyond the prescribed limits.
For a start, the bulk of the borrowing will go to funding the new Cross Island and Jurong Region MRT lines.
In his Facebook post, Mr Heng said borrowing allows the Government to tap the debt market for Singapore's long-term development. "With Singapore's AAA rating and the current market environment, we are likely to be able to do this at favourable interest rates," he said.
"Nonetheless, borrowings must be done responsibly and sustainably. After all, today's debt will be paid for by tomorrow's generation."
Thus, he said, the Bill includes strict safeguards on the projects that qualify for borrowing and the amounts that can be borrowed.
OCBC economist Selina Ling reckons the absolute amount cap of $90 billion on borrowing will serve as an additional safeguard against any potentially profligate debt financing, and believes the move will not affect Singapore's sovereign credit rating.
"There are clear safeguards for the Singa programme with very well-defined and tightly managed criteria for what qualifies for Singa," she said. "In particular, any amendments to the gross limit and the annual interest threshold would require passing a new Bill, so this should give some reassurance to the market that Singapore's fiscal position and financing framework remain robust."
New Bill will allow Govt to borrow up to $90b for long-term national infrastructure projects
SINGAPORE - A new Bill introduced on Monday (April 5) will pave the way for the Government to pay for major national infrastructure projects through borrowing, something that has not been done since the 1990s.
The proposed Significant Infrastructure Government Loan Act (Singa) will allow the Government to borrow up to $90 billion to pay for infrastructure that will last for at least 50 years. This means the cost will be spread out over many years, with each generation that benefits bearing part of it.
Said Deputy Prime Minister Heng Swee Keat in a Facebook post shortly after he tabled the draft law, which will be debated when Parliament sits next month: "Singa will allow the Government to borrow to finance nationally significant infrastructure that is critical for our long-term development.
"We are making significant investments in the coming years - such as the Cross Island and Jurong Region MRT lines, and the Deep Tunnel Sewerage System.
"Borrowing for nationally significant infrastructure will spread this lumpy expenditure across the generations who will benefit. This is equitable across generations."
Singapore last borrowed for infrastructure in the 1970s and 1980s, to pay for the large upfront costs of building Changi Airport as well as the Republic's first MRT lines. By the 1990s, with the economy growing rapidly, the Government paid for infrastructure in full from its revenue.
The country now faces another hump in its development spending needs, with plans for new rail lines and coastal protection measures against rising sea levels.
This comes amid a tighter fiscal situation, exacerbated by the Covid-19 pandemic. Singapore is expected to record a Budget deficit of $64.9 billion in the 2020 financial year, and is expecting to record another deficit of $11 billion in the 2021 financial year.
During his Budget statement in February, Mr Heng mooted the idea of borrowing to fund major infrastructure projects, explaining that it made sense with interest rates close to zero.
He added that it was also a fair approach, as it would allow costs to be spread out among the generations of people who will benefit from the infrastructure.
He said safeguards will be in place so that the money borrowed is used sustainably and responsibly.
The draft law specifies the types of projects that qualify, and limits the amount that can be borrowed.
First, only certain "nationally significant infrastructure" can be funded under the law. This is infrastructure that supports national productivity or Singapore's economic, environmental or social sustainability. Examples include major highways, structures to supply, recover and treat water, and structures - such as sea walls, groynes, dykes, floodgates, barrages and coastal pumping stations - to mitigate risks from coastal hazards.
Such infrastructure must last for at least 50 years so as to benefit multiple generations. It must also be owned by the Government and be controlled by it, or on its behalf.
Another criterion is that the expected cost of the infrastructure project should be at least $4 billion.
Second, to avoid onerous financing costs for future generations, the Government can raise only up to $90 billion of loans in total under the proposed law. This comes up to slightly under 20 per cent of today's gross domestic product.
The Ministry of Finance (MOF) said the amount is calculated based on expected expenditure needed to develop nationally significant infrastructure over the next 15 years.
There is also an annual interest threshold of $5 billion. Once it is breached, the Government will not be able to raise any more loans under the proposed law in the next financial year.
These limits can be changed only by passing a new Bill in Parliament to amend Singa, said MOF, adding that this is to hold the Government of the day accountable if it wants to borrow beyond the prescribed limits.
For a start, the bulk of the borrowing will go to funding the new Cross Island and Jurong Region MRT lines.
In his Facebook post, Mr Heng said borrowing allows the Government to tap the debt market for Singapore's long-term development. "With Singapore's AAA rating and the current market environment, we are likely to be able to do this at favourable interest rates," he said.
"Nonetheless, borrowings must be done responsibly and sustainably. After all, today's debt will be paid for by tomorrow's generation."
Thus, he said, the Bill includes strict safeguards on the projects that qualify for borrowing and the amounts that can be borrowed.
OCBC economist Selina Ling reckons the absolute amount cap of $90 billion on borrowing will serve as an additional safeguard against any potentially profligate debt financing, and believes the move will not affect Singapore's sovereign credit rating.
"There are clear safeguards for the Singa programme with very well-defined and tightly managed criteria for what qualifies for Singa," she said. "In particular, any amendments to the gross limit and the annual interest threshold would require passing a new Bill, so this should give some reassurance to the market that Singapore's fiscal position and financing framework remain robust."
Anytime you see the word 'sustainable', it's fraudulent.
Expect something similar to CHAS scams but on a grander scale and harder to detect.
And yes, spending on infrastructure is the only way totalitarian regimes know how to grow the economy, because there is no innovation and no creativity.
Meanwhile, certain countries are making progress towards 3nm microchips and quantum computing.
Your children and grandchildren will pay for the construction bill... good luck!
Anytime you see the word 'sustainable', it's fraudulent.
Expect something similar to CHAS scams but on a grander scale and harder to detect.
And yes, spending on infrastructure is the only way totalitarian regimes know how to grow the economy, because there is no innovation and no creativity.
Meanwhile, certain countries are making progress towards 3nm microchips and quantum computing.
Your children and grandchildren will pay for the construction bill... good luck!
The concept of perpetuity is a myth.
from straitstimes.com:
MAS expects to issue first tranche of SGS (Infrastructure) bonds in Q4
SINGAPORE - The Monetary Authority of Singapore (MAS) will issue a new category of infrastructure bonds, with the first issuance expected in the fourth quarter of this year.
The Ministry of Finance (MOF) announced this on Monday (April 5), shortly after Deputy Prime Minister Heng Swee Keat tabled a proposed law in Parliament which will allow the Government to borrow money to spend on major national infrastructure projects that will benefit multiple generations.
The Singapore Government Securities (Infrastructure), which will be created under the proposed Significant Infrastructure Government Loan Act (Singa), will rank pari passu - Latin for "on equal footing" - with the current category of SGS.
This existing category, issued to develop the domestic debt market, will be renamed SGS (Market Development), and the money raised remains unavailable for spending.
Both categories of the bonds will be priced along the same yield curve and will have the same tax and regulatory treatment, said MOF.
"MAS will also manage the SGS (Infrastructure) and SGS (Market Development) programmes holistically to ensure that overall issuance supply is calibrated to market demand," added the ministry.
OCBC economist Selina Ling said this should reassure investors that there would not be "supply indigestion", or a lack of demand, when the first issue of SGS (Infrastructure) is rolled out later this year.
Under Singa, the Government also plans to issue green bonds to fund long-term infrastructure projects which are considered environmentally sustainable, such as the new rail lines. These green bonds will count towards the total borrowing limit of $90 billion specified under the proposed law.
Meanwhile, public agencies will also issue green bonds for non-Singa projects.
Amendments will also be made to the Financial Procedure Act to provide for capitalisation of the portion of infrastructure financed through borrowings under Singa.
This capitalisation will allow the Government to convert upfront development expenditure into a stream of annual depreciation and spread development costs across the generations who will benefit.
Annual depreciation, together with annual interest costs, will be met from the annual Budget. Said MOF: "We will still have to have an overall balanced Budget over each term of government."
MAS expects to issue first tranche of SGS (Infrastructure) bonds in Q4
SINGAPORE - The Monetary Authority of Singapore (MAS) will issue a new category of infrastructure bonds, with the first issuance expected in the fourth quarter of this year.
The Ministry of Finance (MOF) announced this on Monday (April 5), shortly after Deputy Prime Minister Heng Swee Keat tabled a proposed law in Parliament which will allow the Government to borrow money to spend on major national infrastructure projects that will benefit multiple generations.
The Singapore Government Securities (Infrastructure), which will be created under the proposed Significant Infrastructure Government Loan Act (Singa), will rank pari passu - Latin for "on equal footing" - with the current category of SGS.
This existing category, issued to develop the domestic debt market, will be renamed SGS (Market Development), and the money raised remains unavailable for spending.
Both categories of the bonds will be priced along the same yield curve and will have the same tax and regulatory treatment, said MOF.
"MAS will also manage the SGS (Infrastructure) and SGS (Market Development) programmes holistically to ensure that overall issuance supply is calibrated to market demand," added the ministry.
OCBC economist Selina Ling said this should reassure investors that there would not be "supply indigestion", or a lack of demand, when the first issue of SGS (Infrastructure) is rolled out later this year.
Under Singa, the Government also plans to issue green bonds to fund long-term infrastructure projects which are considered environmentally sustainable, such as the new rail lines. These green bonds will count towards the total borrowing limit of $90 billion specified under the proposed law.
Meanwhile, public agencies will also issue green bonds for non-Singa projects.
Amendments will also be made to the Financial Procedure Act to provide for capitalisation of the portion of infrastructure financed through borrowings under Singa.
This capitalisation will allow the Government to convert upfront development expenditure into a stream of annual depreciation and spread development costs across the generations who will benefit.
Annual depreciation, together with annual interest costs, will be met from the annual Budget. Said MOF: "We will still have to have an overall balanced Budget over each term of government."
from mustsharenews.com:
12 Heng Swee Keat Facts To Know Your Potential Prime Minister Better
8. Met his wife at Cambridge
Minister Heng is married to Mdm Chang Hwee Nee, who’s CEO of the National Heritage Board. They are the proud parents of a son and daughter.
He met her while studying at Cambridge, while Mdm Chang was on a President’s Scholarship. Their mutual love of films soon blossomed into a committed relationship with each other.
Typically clad in classy cheongsam ensembles, Mdm Chang has been seen accompanying her husband on several high-key events.
12 Heng Swee Keat Facts To Know Your Potential Prime Minister Better
8. Met his wife at Cambridge
Minister Heng is married to Mdm Chang Hwee Nee, who’s CEO of the National Heritage Board. They are the proud parents of a son and daughter.
He met her while studying at Cambridge, while Mdm Chang was on a President’s Scholarship. Their mutual love of films soon blossomed into a committed relationship with each other.
Typically clad in classy cheongsam ensembles, Mdm Chang has been seen accompanying her husband on several high-key events.
from mustsharenews.com:
12 Heng Swee Keat Facts To Know Your Potential Prime Minister Better
9. Secret talent for music
We’ve trawled through Mr Heng’s social media account and uncovered this. It appears that he’s secretly talented in music.
Just look how happy he is strumming on the guitar.
Source
He looks pretty natural on percussion with a mini Talempong too!
12 Heng Swee Keat Facts To Know Your Potential Prime Minister Better
9. Secret talent for music
We’ve trawled through Mr Heng’s social media account and uncovered this. It appears that he’s secretly talented in music.
Just look how happy he is strumming on the guitar.
He looks pretty natural on percussion with a mini Talempong too!
from msn.com:
DPM Heng Swee Keat steps aside as leader of 4G team, 'setback for succession planning'
SINGAPORE — Singapore Deputy Prime Minister (DPM) Heng Swee Keat has informed the Ministers of his intentions to stand aside as leader of the 4G team, Singapore's fourth-generation leaders said on Thursday (8 April).
Minister Gan Kim Yong as PAP Chairman chaired a meeting of all the Ministers, Senior Ministers of State and Ministers of State, as well as Speaker and the Secretary-General of the NTUC, less PM Lee Hsien Loong, DPM Heng and the two Senior Ministers and issued the following statement:
"1. We respect and accept DPM Heng Swee Keat’s decision to stand aside as the leader of the 4G team. We appreciate what a difficult decision it must have been. But no one could have foreseen the disruption of COVID-19, the great uncertainty it has created, and its long-lasting impact. We know that he has made the decision with Singapore’s long-term interests at heart.
2. Over the past two years since he was appointed as DPM, Mr Heng has played a critical role in leading key initiatives of the Government – championing the Singapore Together movement, guiding our national R&D and economic restructuring efforts, and delivering five budgets in twelve months to protect lives and livelihoods in the midst of a global pandemic. Believing in the collective strength of our people, he has engaged individuals, communities and groups widely, and enabled their active participation in improving our economy and society.
3. We are glad that DPM Heng will remain a member of our team, and will continue in his roles as DPM and Coordinating Minister for Economic Policies. We have all benefitted from his experience and expertise, and we look forward to his continued advice and contributions as we navigate our recovery and chart Singapore’s path forward.
4. Tackling Singapore’s pressing immediate challenges and ensuring that Singapore emerges stronger from this crisis remains our foremost priority. Under these circumstances, the 4G team will need more time to select another leader from amongst us. We have therefore requested PM Lee Hsien Loong to stay on as Prime Minister until such time when a new successor is chosen by the team and is ready to take over. We are grateful that PM has agreed to our request.
5. This unexpected turn of events is a setback for our succession planning. We recognise that Singaporeans will be concerned. We seek your support and understanding, as we choose another leader for the team. We will continue working as a team to serve our people, and to earn the confidence and trust of all Singaporeans."
DPM Heng Swee Keat steps aside as leader of 4G team, 'setback for succession planning'
SINGAPORE — Singapore Deputy Prime Minister (DPM) Heng Swee Keat has informed the Ministers of his intentions to stand aside as leader of the 4G team, Singapore's fourth-generation leaders said on Thursday (8 April).
Minister Gan Kim Yong as PAP Chairman chaired a meeting of all the Ministers, Senior Ministers of State and Ministers of State, as well as Speaker and the Secretary-General of the NTUC, less PM Lee Hsien Loong, DPM Heng and the two Senior Ministers and issued the following statement:
"1. We respect and accept DPM Heng Swee Keat’s decision to stand aside as the leader of the 4G team. We appreciate what a difficult decision it must have been. But no one could have foreseen the disruption of COVID-19, the great uncertainty it has created, and its long-lasting impact. We know that he has made the decision with Singapore’s long-term interests at heart.
2. Over the past two years since he was appointed as DPM, Mr Heng has played a critical role in leading key initiatives of the Government – championing the Singapore Together movement, guiding our national R&D and economic restructuring efforts, and delivering five budgets in twelve months to protect lives and livelihoods in the midst of a global pandemic. Believing in the collective strength of our people, he has engaged individuals, communities and groups widely, and enabled their active participation in improving our economy and society.
3. We are glad that DPM Heng will remain a member of our team, and will continue in his roles as DPM and Coordinating Minister for Economic Policies. We have all benefitted from his experience and expertise, and we look forward to his continued advice and contributions as we navigate our recovery and chart Singapore’s path forward.
4. Tackling Singapore’s pressing immediate challenges and ensuring that Singapore emerges stronger from this crisis remains our foremost priority. Under these circumstances, the 4G team will need more time to select another leader from amongst us. We have therefore requested PM Lee Hsien Loong to stay on as Prime Minister until such time when a new successor is chosen by the team and is ready to take over. We are grateful that PM has agreed to our request.
5. This unexpected turn of events is a setback for our succession planning. We recognise that Singaporeans will be concerned. We seek your support and understanding, as we choose another leader for the team. We will continue working as a team to serve our people, and to earn the confidence and trust of all Singaporeans."
from yahoo.com:
Heng Swee Keat: My age is key reason in decision to step aside as leader of 4G team
SINGAPORE — Deputy Prime Minister Heng Swee Keat said on Thursday (8 April) his age is a key reason why he was stepping aside as the leader of Singapore's fourth-generation team.
Heng, 59, will remain as DPM and Coordinating Minister for Economic Policies, and step down as Finance Minister.
Speaking at a media conference to announce his decision, Heng said by the time he takes over as leader of Singapore, he will be in his mid-60s and the runway in leadership succession will be “too short”. The COVID-19 pandemic has also shaped his decision, he added.
“And we need someone who is younger with a longer runway, to not think in just one or two election terms, but think about the long term future of Singapore, and of Singaporeans and the structural challenges, which will creep up day by day,” Heng said.
Such a leader will be able to take Singapore through to the next phase of nation-building, with the support of the people, he added.
Heng, who is also Member of Parliament for East Coast GRC, said he is glad that Prime Minister Lee Hsien Loong is staying on to see Singapore through the COVID-19 crisis.
When asked if his health was a factor behind his decision, Heng said his health is good now and he is very thankful to his medical team for taking great care of him.
In November 2018, following his appointment as the ruling People’s Action Party’s (PAP) first assistant secretary-general, Heng said that he had made “a very good recovery” from the stroke he suffered in 2016.
Speaking at a press conference then, Heng stressed, “I would not have taken up this appointment if I do not have the confidence that my health allows me to do it.”
In response to a question at the conference on whether the outcome of last year’s general election had an impact on Heng’s decision, the DPM said the results of the GE and in particular the East Coast GRC were not a factor.
At the GE, the PAP suffered its worst electoral performance since independence in terms of the number of seats lost to the opposition. The Workers’ Party won Sengkang GRC and retained Aljunied GRC and Hougang SMC for a total of 10 seats.
The PAP won 61.24 per cent of the votes cast and 83 seats out of 93 at the GE held amid the COVID-19 pandemic. Its vote share was a sharp drop from 69.9 per cent in GE2015.
In the closely watched contest for East Coast GRC, Heng led the PAP team to triumph over the WP team led by Nicole Seah, winning 53.41 per cent of the vote.
Heng revealed that when he was first appointed as leader of the 4G team, he was already thinking about the heavy responsibilities and tasks ahead, saying that the pandemic last year was a turning point for him.
“I started thinking about it when I was appointed. I do not want to take on any job which I cannot deliver. Those of you who have worked with me know I am a workaholic. And I put my heart and soul into what I do. And therefore, I've been thinking about it as to whether am I the right person?”
In a joint statement before the conference, the 4G leaders excluding Heng said they "respect and accept" the DPM's decision.
"We appreciate what a difficult decision it must have been. But no one could have foreseen the disruption of COVID-19, the great uncertainty it has created, and its long-lasting impact. We know that he has made the decision with Singapore’s long-term interests at heart."
Heng Swee Keat: My age is key reason in decision to step aside as leader of 4G team
SINGAPORE — Deputy Prime Minister Heng Swee Keat said on Thursday (8 April) his age is a key reason why he was stepping aside as the leader of Singapore's fourth-generation team.
Heng, 59, will remain as DPM and Coordinating Minister for Economic Policies, and step down as Finance Minister.
Speaking at a media conference to announce his decision, Heng said by the time he takes over as leader of Singapore, he will be in his mid-60s and the runway in leadership succession will be “too short”. The COVID-19 pandemic has also shaped his decision, he added.
“And we need someone who is younger with a longer runway, to not think in just one or two election terms, but think about the long term future of Singapore, and of Singaporeans and the structural challenges, which will creep up day by day,” Heng said.
Such a leader will be able to take Singapore through to the next phase of nation-building, with the support of the people, he added.
Heng, who is also Member of Parliament for East Coast GRC, said he is glad that Prime Minister Lee Hsien Loong is staying on to see Singapore through the COVID-19 crisis.
When asked if his health was a factor behind his decision, Heng said his health is good now and he is very thankful to his medical team for taking great care of him.
In November 2018, following his appointment as the ruling People’s Action Party’s (PAP) first assistant secretary-general, Heng said that he had made “a very good recovery” from the stroke he suffered in 2016.
Speaking at a press conference then, Heng stressed, “I would not have taken up this appointment if I do not have the confidence that my health allows me to do it.”
In response to a question at the conference on whether the outcome of last year’s general election had an impact on Heng’s decision, the DPM said the results of the GE and in particular the East Coast GRC were not a factor.
At the GE, the PAP suffered its worst electoral performance since independence in terms of the number of seats lost to the opposition. The Workers’ Party won Sengkang GRC and retained Aljunied GRC and Hougang SMC for a total of 10 seats.
The PAP won 61.24 per cent of the votes cast and 83 seats out of 93 at the GE held amid the COVID-19 pandemic. Its vote share was a sharp drop from 69.9 per cent in GE2015.
In the closely watched contest for East Coast GRC, Heng led the PAP team to triumph over the WP team led by Nicole Seah, winning 53.41 per cent of the vote.
Heng revealed that when he was first appointed as leader of the 4G team, he was already thinking about the heavy responsibilities and tasks ahead, saying that the pandemic last year was a turning point for him.
“I started thinking about it when I was appointed. I do not want to take on any job which I cannot deliver. Those of you who have worked with me know I am a workaholic. And I put my heart and soul into what I do. And therefore, I've been thinking about it as to whether am I the right person?”
In a joint statement before the conference, the 4G leaders excluding Heng said they "respect and accept" the DPM's decision.
"We appreciate what a difficult decision it must have been. But no one could have foreseen the disruption of COVID-19, the great uncertainty it has created, and its long-lasting impact. We know that he has made the decision with Singapore’s long-term interests at heart."
from mustsharenews.com:
12 Heng Swee Keat Facts To Know Even Though He’s No Longer In The Running For PM
10. Rocks batik like a pro
While DPM Heng suits up for work in the standard suits and ties, he appears to have a particular liking for batik shirts.
He was spotted in one during a Hari Raya event at Our Tampines Hub.
Here he is clad in the exact same shirt while having a casual conversation with a durian seller.
And if DPM Heng had a signature colour, we’d guess that brown would be a clear choice. He recently attended an awards ceremony rocking yet another batik shirt.
12 Heng Swee Keat Facts To Know Even Though He’s No Longer In The Running For PM
10. Rocks batik like a pro
While DPM Heng suits up for work in the standard suits and ties, he appears to have a particular liking for batik shirts.
He was spotted in one during a Hari Raya event at Our Tampines Hub.
Here he is clad in the exact same shirt while having a casual conversation with a durian seller.
And if DPM Heng had a signature colour, we’d guess that brown would be a clear choice. He recently attended an awards ceremony rocking yet another batik shirt.
The age factor is odd.... didn't they know how old he was when he was first pushed forward for the role? lol
Age is something that doesn't just suddenly increase does it?
Age is something that doesn't just suddenly increase does it?
So this is easy coast plan? He quit.? Who will helm east coast GRC?
Chan echoes PM Lee assuring that same team still in place despite Heng stepping aside as 4G leader - The Online Citizen Asia
by Correspondent
09/04/2021
Reading Time: 2 mins read
At a press conference yesterday (8 Apr) when Deputy Prime Minister Heng Swee Keat announced that he will step aside as leader of People’s Action Party (PAP)’s 4G team and as such will not consider to take up the Singapore’s Prime Minister position anymore, a journalist asked how foreign countries and investors will navigate this period of uncertainty, given that the 4G team is saying they need time to select a new leader.
PM Lee Hsien Loong replied that foreign countries will still be dealing with the same team.
“The same ministers are still there. I’m still the PM, Swee Keat is still the DPM, and they will be dealing with the same people. And that’s what matters to them if you take the two-, three-, four-year point of view, which in diplomacy is quite a long time,” he said.
Echoing the Prime Minister’s point, Minister for Trade and Industry Chan Chun Sing said that notwithstanding the latest development, the team, system, plans, processes and policies are all still in place to provide continuity and stability for foreign investors.
“And we will continue to work hard to distinguish ourselves as a safe harbour for investors to mobilise the capital, aggregate their talent, protect their intellectual property, amidst the global uncertainties,” Chan added.
PM Lee also said that politics in Singapore works very differently than politics in nearly every foreign country. “I think they will assess us based on the quality of leadership which our political system and political process produces,” he said.
In the longer term, what other countries will notice is the quality of Singapore’s prime minister, deputy prime ministers and ministers, he added. “If out of this process we’re able to sustain high-quality ministers and leaders for the country, then I think that it would have been the right path forward for Singapore.”
“So I think that’s how they will see it – not so much whether there’s what we would call a ‘relief-in-place’, in progress – one person standing aside, another person getting prepared to come in – but what are the outcomes in terms of persons in charge, quality and the direction for the country. And that is what we must make sure we can maintain and keep stable while working through the succession process.”
Chan added that clear succession planning, policy coherence and consistency have been the hallmarks of Singapore’s system, and have also put the country in good stead to attract long-term investments.
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Chan echoes PM Lee assuring that same team still in place despite Heng stepping aside as 4G leader - The Online Citizen Asia
by Correspondent
09/04/2021
Reading Time: 2 mins read
At a press conference yesterday (8 Apr) when Deputy Prime Minister Heng Swee Keat announced that he will step aside as leader of People’s Action Party (PAP)’s 4G team and as such will not consider to take up the Singapore’s Prime Minister position anymore, a journalist asked how foreign countries and investors will navigate this period of uncertainty, given that the 4G team is saying they need time to select a new leader.
PM Lee Hsien Loong replied that foreign countries will still be dealing with the same team.
“The same ministers are still there. I’m still the PM, Swee Keat is still the DPM, and they will be dealing with the same people. And that’s what matters to them if you take the two-, three-, four-year point of view, which in diplomacy is quite a long time,” he said.
Echoing the Prime Minister’s point, Minister for Trade and Industry Chan Chun Sing said that notwithstanding the latest development, the team, system, plans, processes and policies are all still in place to provide continuity and stability for foreign investors.
“And we will continue to work hard to distinguish ourselves as a safe harbour for investors to mobilise the capital, aggregate their talent, protect their intellectual property, amidst the global uncertainties,” Chan added.
PM Lee also said that politics in Singapore works very differently than politics in nearly every foreign country. “I think they will assess us based on the quality of leadership which our political system and political process produces,” he said.
In the longer term, what other countries will notice is the quality of Singapore’s prime minister, deputy prime ministers and ministers, he added. “If out of this process we’re able to sustain high-quality ministers and leaders for the country, then I think that it would have been the right path forward for Singapore.”
“So I think that’s how they will see it – not so much whether there’s what we would call a ‘relief-in-place’, in progress – one person standing aside, another person getting prepared to come in – but what are the outcomes in terms of persons in charge, quality and the direction for the country. And that is what we must make sure we can maintain and keep stable while working through the succession process.”
Chan added that clear succession planning, policy coherence and consistency have been the hallmarks of Singapore’s system, and have also put the country in good stead to attract long-term investments.
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