VOICES
'At this point, the impact on companies is not significant yet...Big and small companies are going to face the same situation going forward: It's a liquidity problem that's not resolved yet. It started with sub-prime. Now we have gone into corporate loans.
'Companies should get prudent on cost control and manage cash carefully. They have to be very careful before making major investments. On the Government side, we have to think of how (to ensure that) liquidity does not dry up. Viable businesses may not be able to get bank loans.
'The job situation remains OK. Let's say the integrated resorts take off. Singaporeans must be prepared (to switch jobs). There's also a chance the IRs won't take off, because people lost their wealth. We may go into an unemployment situation. I want to be realistic. We should not be surprised if it comes. We must be prepared to manage it.'
Mr Inderjit Singh, MP and chairman of the Government Parliamentary Committee for Finance and Trade and Industry
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'We are concerned that in a slowdown, there could be retrenchment. More needy residents will come to the Community Development Council (CDC) for social and job assistance. We don't know how severe the repercussions will be. We don't know the impact on the industries.
'If people lose their jobs, families will be under stress, especially lower-income families. They have very little savings.
'At the CDC level, we are working out various schemes to see how we can help needy families. We have started a food aid fund. We ask people to pledge $100 per month to purchase food rations for needy residents. We started with donated canned food. Now we give dry rations and frozen food vouchers. We may look into providing hot meals.
'We are also doing more in terms of job matching, to help people find jobs as quickly as possible.
'Singaporeans should look into cost- cutting: do away with all those wants, be more prudent in terms of their spending. Go for skills upgrading to increase your earning capacity and your employability.' MP and North West district mayor Teo Ho Pin
'Companies should get prudent on cost control and manage cash carefully. They have to be very careful before making major investments. On the Government side, we have to think of how (to ensure that) liquidity does not dry up. Viable businesses may not be able to get bank loans.
'The job situation remains OK. Let's say the integrated resorts take off. Singaporeans must be prepared (to switch jobs). There's also a chance the IRs won't take off, because people lost their wealth. We may go into an unemployment situation. I want to be realistic. We should not be surprised if it comes. We must be prepared to manage it.'
Mr Inderjit Singh, MP and chairman of the Government Parliamentary Committee for Finance and Trade and Industry
<HR width="50%" SIZE=1>
'We are concerned that in a slowdown, there could be retrenchment. More needy residents will come to the Community Development Council (CDC) for social and job assistance. We don't know how severe the repercussions will be. We don't know the impact on the industries.
'If people lose their jobs, families will be under stress, especially lower-income families. They have very little savings.
'At the CDC level, we are working out various schemes to see how we can help needy families. We have started a food aid fund. We ask people to pledge $100 per month to purchase food rations for needy residents. We started with donated canned food. Now we give dry rations and frozen food vouchers. We may look into providing hot meals.
'We are also doing more in terms of job matching, to help people find jobs as quickly as possible.
'Singaporeans should look into cost- cutting: do away with all those wants, be more prudent in terms of their spending. Go for skills upgrading to increase your earning capacity and your employability.' MP and North West district mayor Teo Ho Pin
