Serious NEW $100,000,000 INVESTMENTS IN TUV PSB HEADED BY A CECA

[bobby]

Got check and confirm his univeristy degree or not ?

 

[asenmaga]

I forgot to address the country risk and banks are very cognizant of it. Eg during the recent covid wave in India a lot of the requests were moved to locations within US, Poland, PH and KL. So BCP is in great focus for banks.
Also is not feasible to h have local quota by department as many departments like ops are fully local with similar pay grade as IT. For IT most people at higher levels of Exec Dir and MD are white guys. So I think Indians although are more are not the great threat here.

Do you not think that it is important to know what the percentage in key area of banking and that Locals must be able to operate them without the Foreigners ?

Example Singapore allocate large amount in Defense Spending against potential threats or as an insurance policy.

Let me give you an example, If One day India and China is at war, and India knowing that a Large percentage of her national are running the key operation in Singapore, and being one important financial center , there could be a scenario whereby India "ordered" all her nationals working in Singapore to "stop working" to disrupt the financial center hoping to disrupt the trade and payment system that will affect China...( Of Course it could also happened in Hong Kong where I understand there are large proportion of PRC in the Financial Sector, I am not faimilar with the HK scene , but I dont think it is as bad as Singapore ).

Anyway Thank You I am glad we are able to have a polite discussion without bringing the race card into it..

 

[Sgpind]

this is the classic problem facing sinkies:
1. low wages (to compete against foreign labour)
2. high living costs pushed up by asset inflation (not enhancement)
3. inability to achieve the classic sinkie dream of the 5Cs because of 1 and 2.

life becomes bleak for the average sinkie who spends his entire life struggling to simply maintain an average lifestyle, not even close to attaining the 5Cs. the sinkie dream has turned into a nightmare where they struggle to survive rather than thrive (why do u think birth rates are so low?)

these foreigners coming in, bust their ass off for 10-20 years, and they will retire like Rajahs and Sultans back home.

all the average sinkie will have to show for after 40 years of work is a cpf life payout at subsistence level for their final years.

Welcome to the Madhouse.

So what do you want ? Foreign companies to give you assured high pay? Or a quota for locals? Or no more foreign companies to invest here?

 

[Sgpind]

Do you not think that it is important to know what the percentage in key area of banking and that Locals must be able to operate them without the Foreigners ?

Example Singapore allocate large amount in Defense Spending against potential threats or as an insurance policy.

Let me give you an example, If One day India and China is at war, and India knowing that a Large percentage of her national are running the key operation in Singapore, and being one important financial center , there could be a scenario whereby India "ordered" all her nationals working in Singapore to "stop working" to disrupt the financial center hoping to disrupt the trade and payment system that will affect China...( Of Course it could also happened in Hong Kong where I understand there are large proportion of PRC in the Financial Sector, I am not faimilar with the HK scene , but I dont think it is as bad as Singapore ).

Anyway Thank You I am glad we are able to have a polite discussion without bringing the race card into it..

It is important to have key areas functioning which is why MAS has all sort of regulatory and risk mitigation requirement. In spite of that covid has shown the limitations to global supply chaina and global services. Over the next few years there will be structural changes to address this.
Next , what is a large foreign presence running key ops in Sg? My job and my team deploy software mainly for North America and europe. The Asia component is small. My job and my teams job can be done from anywhere but the risk associated to uproot the last 20 years of evolution in Sg is too great. But push come to shove imagine can be done outside Singapore and my teams budget of a few millions can be permanently moved out of this country.
I agree its different for local retail banking jobs. But those companies like Stan chart and citi have enough locals servicing Singapore IT component of ops. I used to work in one of the above banks so I can say with authority.
A majority of banks like JPM, UBS, Credit Suisse etc need not have staff in Sg since they are directly not serving this market. And I have mentioned earlier these jobs amounting to hundreds of millions of dollars are already on the way out. But good news is that companies like Google, FB, Grab are coming in. Its up to Sg and their people how they want to mange this opportunity.

 

[Sgpind]

Do you not think that it is important to know what the percentage in key area of banking and that Locals must be able to operate them without the Foreigners ?

Example Singapore allocate large amount in Defense Spending against potential threats or as an insurance policy.

Let me give you an example, If One day India and China is at war, and India knowing that a Large percentage of her national are running the key operation in Singapore, and being one important financial center , there could be a scenario whereby India "ordered" all her nationals working in Singapore to "stop working" to disrupt the financial center hoping to disrupt the trade and payment system that will affect China...( Of Course it could also happened in Hong Kong where I understand there are large proportion of PRC in the Financial Sector, I am not faimilar with the HK scene , but I dont think it is as bad as Singapore ).

Anyway Thank You I am glad we are able to have a polite discussion without bringing the race card into it..

The war situation is far fetched. What will you do if china sanctions india. Will u send all Indians back home. Indians outside India are not obliged to obey Indian laws.

 

[asenmaga]

Thanks for the acknowledgement in order to have a respectful debate.
In the past when MNC banks setup operations here, they used Sg as a stepping stone to the region. So it used to be pretty lightweight with home management staff and local ops staff. But the real job creation started with the outsourcing wave in late 90s and 2000s . People in NY and London were losing jobs ( I moved from the US to here by the way) and Sg was a hardship posting. The white guys used to get lavish housing, maid school allowance and even a spouse stipend. That all stopped after 2008 financial crisis. I moved here since my job in US got moved. Now Sg is in the same boat as High cost centres but I digress. Within a span of 2 years my one bank ramped up hiring from 300 to 500 IT staff to 3000 between 2005 to 2007. Mind you this had nothing to do with CECA. At the same time if you remember a frenzy of Integrated resorts cause large scale migration. There is no way Sg could have supplied local talent to fill in such large numbers. Remember that the 3000 is from 1 Bank. And every bank was doing this. That was the situation when Lrge number of Indians came in. Many like me grew in their jobs. Of late many banks have shed the employees and outsourced those to Indian IT companies like TCS and Infosys and moved those to India. So you are right this was not about CECA but WTO based globalisation.
I also agree that numbers can be transparent but govt will not do so until they have reduced Indian workers further. Last few years they have stopped giving PRs and citizenship to Indians. So people's voice is being heard .

The war situation is far fetched. What will you do if china sanctions india. Will u send all Indians back home. Indians outside India are not obliged to obey Indian laws.

Yes Indeed can be "far fetched" than You think Singapore need allocating such a large amount to defense spending ? It is also far fetched ?
It is what banks does well is to have risk diversification isn't . For Example If DBS have all the important aspect of IT based in India....if anything happened in India, maybe not war , but earthquake or Covid or anythinhg, that is why banks have disaster recovery plan ?

You may say Indians outside of India not have to obliged to obey indian Laws... but they all have parents and some even their kids back home ( same scenario if certain important sector of the economy is under majoirty PRCs or any other nationalities ).

So only with Full transparency with data , than one can full understand the possible risk factors are coming from ?
Something with insurance policies , You buy a fire house insurance policy not expecting that your house will be burned down , you do it just in case
it happened no matter how far fetched it is.

 

[Sgpind]

---

Yes Indeed can be "far fetched" than You think Singapore need allocating such a large amount to defense spending ? It is also far fetched ?
It is what banks does well is to have risk diversification isn't . For Example If DBS have all the important aspect of IT based in India....if anything happened in India, maybe not war , but earthquake or Covid or anythinhg, that is why banks have disaster recovery plan ?

You may say Indians outside of India not have to obliged to obey indian Laws... but they all have parents and some even their kids back home ( same scenario if certain important sector of the economy is under majoirty PRCs or any other nationalities ).

So only with Full transparency with data , than one can full understand the possible risk factors are coming from ?
Something with insurance policies , You buy a fire house insurance policy not expecting that your house will be burned down , you do it just in case
it happened no matter how far fetched it is.

Agreed, and that insurance is already there. As with any disaster there will be impact but BCP is there as proven by covud in India in April May when all Sg banks functioned without issues.
That risk is already manifesting itself by China chip problem, attacking Aus, Korean and Japanese businesses in China etc. They have exposed the limitations of globalisation and my prediction is that countries will address this.
Next is, Indians at least until now, don't fear for their families back home if we have to go against Indian govt. This is because of democracy and outrage that will cost them votes if they treat citizens as hostage. So Indians stopping work on government directive is almost nil unless india stops being a democracy.. but that's not the point of discussion.
However I think the data will need to be released and I think it will come at an appropriate time.

 

[asenmaga]

It is important to have key areas functioning which is why MAS has all sort of regulatory and risk mitigation requirement. In spite of that covid has shown the limitations to global supply chaina and global services. Over the next few years there will be structural changes to address this.
Next , what is a large foreign presence running key ops in Sg? My job and my team deploy software mainly for North America and europe. The Asia component is small. My job and my teams job can be done from anywhere but the risk associated to uproot the last 20 years of evolution in Sg is too great. But push come to shove imagine can be done outside Singapore and my teams budget of a few millions can be permanently moved out of this country.
I agree its different for local retail banking jobs. But those companies like Stan chart and citi have enough locals servicing Singapore IT component of ops. I used to work in one of the above banks so I can say with authority.
A majority of banks like JPM, UBS, Credit Suisse etc need not have staff in Sg since they are directly not serving this market. And I have mentioned earlier these jobs amounting to hundreds of millions of dollars are already on the way out. But good news is that companies like Google, FB, Grab are coming in. Its up to Sg and their people how they want to mange this opportunity.

You are from the IT sector of the financial sector, I cant remembered clearly, but if I am not wrong there was some regulatory changes if I am not wrong , Switzerland's Banking secrecy act that causes a large outflow of Private wealth management funds to Singapore , Luxembourg and Liechtenstein so there was an upsurge in demand for banking staff. Many Banks decides to operate their regional office out from Singapore.
Some of course flow to Hong Kong but because of the China political risk , most chose Singapore.

There is no point having a bigger economy if the locals don't have a corresponding share in the development and most ended up do grab food or grab driver. There must be a balance, whereby Singapore has went to the extreme where only a minority of benefited . ( FYI current situation doesn't affect one bit...as I retired long time ago ).
I have stayed closed to Macau for maybe 7.-10 years and saw the labour shortages when the casino market was booming... we have lots of workers from PRCs into Macau, but the difference is the Government is there to protect the locals.....certain jobs must be held by a locals. This created a
situation where sometimes , someone can hold two or three appointments in different companies.

The Macau people are happy, even though they have large amount of PRCs coming to compete for jobs.... but they know they are not at a disadvantage.(bear in mind ultimately Macau and HK is part of China, which is totally different with Singapore, which is not part of China Nor India).

Recently we have HSK saying we must not be too narrow in our definition of "CORE" , meaning he wants to includes PRs, and also workers that resides in Singapore, this statement itself reemphasized that indeed we do have a large portion of Indian national working in t he financial sector. ( might also be with PRCs... not sure as no data to rely on ).

Of Course all the while we have large amount of Malaysian working in various sectors way before but you don't hear an big uproar compared to now with the Indian nationals.
In Singapore, where you have national service liabilities which impact on your employment although most employers will not admit it openly we are already competing on unfair basis.

 

[asenmaga]

---

Agreed, and that insurance is already there. As with any disaster there will be impact but BCP is there as proven by covud in India in April May when all Sg banks functioned without issues.
That risk is already manifesting itself by China chip problem, attacking Aus, Korean and Japanese businesses in China etc. They have exposed the limitations of globalisation and my prediction is that countries will address this.
Next is, Indians at least until now, don't fear for their families back home if we have to go against Indian govt. This is because of democracy and outrage that will cost them votes if they treat citizens as hostage. So Indians stopping work on government directive is almost nil unless india stops being a democracy.. but that's not the point of discussion.
However I think the data will need to be released and I think it will come at an appropriate time.

I dont share your opinion there, especially during this Covid situation, you see that many Indian workers in Singapore , pressured the Sg government to allow them to travel home to their family when one of them is sick with Covid and many were trying to find ways to bring their relative out from India to Singapore.
Maybe you have been away for too long and don't have much attachment. I also know that the PRCs are also very attached to their motherland so not only Indian Nationals. When Singapore have this policy of trying to "give citizenship" to good China Table tennis players... I already stated it was wrong....because I also stayed in China for more than 10 years. Even the PRCs within China itself, they have strong attachment to their village they come from. They will always travelled back during special festival periods to celebrate with their relatives , childhood friends etc. As can be seens from the past. one of the "Singaporean Table Tennis Star" after her career she went back to China......same with Jet Li , and Gong Li , actor and actress etc.

Anyway thanks for nice discussion, will have to run, have an appointment to go....best of luck.

 

[Sgpind]

You are from the IT sector of the financial sector, I cant remembered clearly, but if I am not wrong there was some regulatory changes if I am not wrong , Switzerland's Banking secrecy act that causes a large outflow of Private wealth management funds to Singapore , Luxembourg and Liechtenstein so there was an upsurge in demand for banking staff. Many Banks decides to operate their regional office out from Singapore.
Some of course flow to Hong Kong but because of the China political risk , most chose Singapore.

There is no point having a bigger economy if the locals don't have a corresponding share in the development and most ended up do grab food or grab driver. There must be a balance, whereby Singapore has went to the extreme where only a minority of benefited . ( FYI current situation doesn't affect one bit...as I retired long time ago ).
I have stayed closed to Macau for maybe 7.-10 years and saw the labour shortages when the casino market was booming... we have lots of workers from PRCs into Macau, but the difference is the Government is there to protect the locals.....certain jobs must be held by a locals. This created a
situation where sometimes , someone can hold two or three appointments in different companies.

The Macau people are happy, even though they have large amount of PRCs coming to compete for jobs.... but they know they are not at a disadvantage.(bear in mind ultimately Macau and HK is part of China, which is totally different with Singapore, which is not part of China Nor India).

Recently we have HSK saying we must not be too narrow in our definition of "CORE" , meaning he wants to includes PRs, and also workers that resides in Singapore, this statement itself reemphasized that indeed we do have a large portion of Indian national working in t he financial sector. ( might also be with PRCs... not sure as no data to rely on ).

Of Course all the while we have large amount of Malaysian working in various sectors way before but you don't hear an big uproar compared to now with the Indian nationals.
In Singapore, where you have national service liabilities which impact on your employment although most employers will not admit it openly we are already competing on unfair basis.

I completely empathise with the sentiments. I don't have an answer and not in a position to do so being an immigrant myself. The government should do what it takes BUT for singapore they have no choice but to balance because of the fact that they can't fall back on a hinterland.So far under the great LKY they navigated their way to prosperity but the coming decades will present new challenges and I hope sincerely the great institutions built by LKY will steer beloved Singapore to safety.
Personally I have invested my productive life in this place. My kids know no other place as their own and I tell them to be committed to contribute here and complete the obligations of NS. So let's see how the coming years unfold.

 

[asenmaga]

I completely empathise with the sentiments. I don't have an answer and not in a position to do so being an immigrant myself. The government should do what it takes BUT for singapore they have no choice but to balance because of the fact that they can't fall back on a hinterland.So far under the great LKY they navigated their way to prosperity but the coming decades will present new challenges and I hope sincerely the great institutions built by LKY will steer beloved Singapore to safety.
Personally I have invested my productive life in this place. My kids know no other place as their own and I tell them to be committed to contribute here and complete the obligations of NS. So let's see how the coming years unfold.

Anyway before i Go off for my
appointment , here is one article written by a veteran in the industry that has worked in GIC ( most likely during my time as well ).



Hope you understand where we are coming from , nothing against any nationality or not welcoming foreigners ( I already hired a PRC in late 80s to handle our chinese clients ).
Enjoy reading .

 

[Sgpind]

Anyway before i Go off for my
appointment , here is one article written by a veteran in the industry that has worked in GIC ( most likely during my time as well ).



Hope you understand where we are coming from , nothing against any nationality or not welcoming foreigners ( I already hired a PRC in late 80s to handle our chinese clients ).
Enjoy reading .

It is a difficult read. Both from Sg point of view and an Indian point of view. If Indians had no talent I wonder why and how they were hired. Probably Sg should shut the tap on immigration for PMET at least for Indian. That can be the only solution. Personally it will be good for me, because I still have my PR and low competition if they stop Indians PMET

 

[Leckmichamarsch]

Yay! Get a taste of your own medicine you slitty eyes!

yeah mu slit much smaller than puki mak

 

[Sgpind]

yeah mu slit much smaller than puki mak

Come on guys . . If you really want to call each other names.. just meet up in a coffee shop .. talk it out .. shake hands and be done with it ..

 

[pvtpublic]

So what do you want ? Foreign companies to give you assured high pay? Or a quota for locals? Or no more foreign companies to invest here?

Increase point 1
lower point 2

 

[asenmaga]

It is a difficult read. Both from Sg point of view and an Indian point of view. If Indians had no talent I wonder why and how they were hired. Probably Sg should shut the tap on immigration for PMET at least for Indian. That can be the only solution. Personally it will be good for me, because I still have my PR and low competition if they stop Indians PMET

I think this two person is just sharing what they saw and experienced themselves. I went thru that as well. We had no problem with working with foreigners be it of any nationalities. I worked with many Europeans , British , Australia , Americans and even PRCs. I didn't have any opportunity to work with any India Indians during my time as there were very few unless you are working in Bank Of India or State bank of India in Singapore. Plus our financial institution did not have any business relationship or business with India , and the staff of those two banks tends to stick to themselves so didn't have any opportunities to socialize with them.

Of Course I have Indian colleagues that was either born here or came here very long time ago and we don't have any problem at all.
I would not say that India Indians have no talent. Of Course they do. The Former Chairman of EDB have stated (if I remembered correctly) , during his time he only hired people who are the best in their field and those that cant be filled by locals unlike now.

But the key questions remains why is there a large proportion of India Indian PMET( still need data from Gov ) in the Singapore financial sector when clearly Singapore was already in the top ranking in the financial with local workforce while India was no where insight ? Did the Government Of India have better Minister of Education that prepares her citizen better than the multi million dollar salaries of the Singapore Minister of Education, since we had more than 20-30 years of head start ?

This are questions that needed to be answered... It is not a question of being Against India PMET. As a country we need to know where did it all gone wrong...with majorities of the locals who have the qualifications and experienced now working as Grab Food or drivers etc . Is there something wrong with the Singapore Education policies that did not prepared her people enough for the global competitions ? Maybe we should consider hiring the India Education Minister to be ours since he prepared her people better than ours and would cost very much less than ours ?
I don't see any fresh Indian graduates that comes to Singapore being asked to upskill in order to work here while Sporean are told to upskill before they can find themselves a job....India must be doing something right and Singapore must learn and find out the answers ?

We have also to remember that Singapore is a small country, it cant be that the government job is to be provide jobs to other nationalities without limits or control which is exactly what happened. You may not feel it , but since your children will be Singaporean and they will know how it feels like in the future.

Don't forget Singapore is a high cost center, and if there are too many foreigner to depress the salaries how can Singaporean be able to afford homes etc etc , while for example an Indian/PRCs workers can work here for 5 to 10 years than retired back to their home countries while the local have to struggle for many years .

You have worked in the USA before. remembered it is a very large economy and a large country , even than I think if they have the magnitude of Indian PMET in the sector I don't think the American (white usually ) accept it....I could be wrong...as I only Travelled to USA during the 80s and 90s
things could have changed alot . ( I like to watch Neal Katyal an American lawyer of India origin for legal matter, and Dr Nadir Ali also an American Cardiologist of India origin , on diet matters...just to show you I have nothing against people of India..).

I have used Macau as an Example in my previous post, but if I am not wrong, no other countries have signed any agreement with India on free flow of labor movement ? . Do note .It is not a question of blaming the India PMET, it is more a question of the Singapore Government having a too open foreign employment policies without regards to the locals citizen and trying to find answers why did the situation worsen to this level ?

 

[Sgpind]

I think this two person is just sharing what they saw and experienced themselves. I went thru that as well. We had no problem with working with foreigners be it of any nationalities. I worked with many Europeans , British , Australia , Americans and even PRCs. I didn't have any opportunity to work with any India Indians during my time as there were very few unless you are working in Bank Of India or State bank of India in Singapore. Plus our financial institution did not have any business relationship or business with India , and the staff of those two banks tends to stick to themselves so didn't have any opportunities to socialize with them.

Of Course I have Indian colleagues that was either born here or came here very long time ago and we don't have any problem at all.
I would not say that India Indians have no talent. Of Course they do. The Former Chairman of EDB have stated (if I remembered correctly) , during his time he only hired people who are the best in their field and those that cant be filled by locals unlike now.

But the key questions remains why is there a large proportion of India Indian PMET( still need data from Gov ) in the Singapore financial sector when clearly Singapore was already in the top ranking in the financial with local workforce while India was no where insight ? Did the Government Of India have better Minister of Education that prepares her citizen better than the multi million dollar salaries of the Singapore Minister of Education, since we had more than 20-30 years of head start ?

This are questions that needed to be answered... It is not a question of being Against India PMET. As a country we need to know where did it all gone wrong...with majorities of the locals who have the qualifications and experienced now working as Grab Food or drivers etc . Is there something wrong with the Singapore Education policies that did not prepared her people enough for the global competitions ? Maybe we should consider hiring the India Education Minister to be ours since he prepared her people better than ours and would cost very much less than ours ?
I don't see any fresh Indian graduates that comes to Singapore being asked to upskill in order to work here while Sporean are told to upskill before they can find themselves a job....India must be doing something right and Singapore must learn and find out the answers ?

We have also to remember that Singapore is a small country, it cant be that the government job is to be provide jobs to other nationalities without limits or control which is exactly what happened. You may not feel it , but since your children will be Singaporean and they will know how it feels like in the future.

Don't forget Singapore is a high cost center, and if there are too many foreigner to depress the salaries how can Singaporean be able to afford homes etc etc , while for example an Indian/PRCs workers can work here for 5 to 10 years than retired back to their home countries while the local have to struggle for many years .

You have worked in the USA before. remembered it is a very large economy and a large country , even than I think if they have the magnitude of Indian PMET in the sector I don't think the American (white usually ) accept it....I could be wrong...as I only Travelled to USA during the 80s and 90s
things could have changed alot . ( I like to watch Neal Katyal an American lawyer of India origin for legal matter, and Dr Nadir Ali also an American Cardiologist of India origin , on diet matters...just to show you I have nothing against people of India..).

I have used Macau as an Example in my previous post, but if I am not wrong, no other countries have signed any agreement with India on free flow of labor movement ? . Do note .It is not a question of blaming the India PMET, it is more a question of the Singapore Government having a too open foreign employment policies without regards to the locals citizen and trying to find answers why did the situation worsen to this level ?

I am completely in support of data driven decision making. I would also like to see data on how many that drive Grab are PMET material.
But to let you know Indian govt contribution to education is minimal. Most people who leave India is because the system is poor and they fend for themselves with private education. The Sg education system is world beating.
From your earlier posts I have no doubt that you are rational and not a racist . So please you don't have to preach to the concerted.
All your concerns are valid and I would definitely support a root cause analysis of the issues. I have nothing more to say regarding this. I can only say that Sg has given me a lot and I hope to keep contributing as long as I can and wish all Singaporeans well and consider them as my own.

 

[mudhatter]

Suddenly CECA Indians are Shinny Superstar talents wanted for top jobs, or wanted Foreign Tenants for top rental properties .......

pap-pigs have ALWAYS favoured chinks and ceca

now that they are poodles of yankees and yankee-tiong bonhomie post 1979 has ended

you have this situation

ceca (and nobody else) must take over all important functions in stinkypura since it serves as a useful node for yankees in the region

good to see that what melayun and Muslims have faced for long are now being faced by mostly kafir pork trotter slurping cina babi
busy spreading chink virus and bird flu and pig flu and monkey brain flu and what not

 

[asenmaga]

I am completely in support of data driven decision making. I would also like to see data on how many that drive Grab are PMET material.
But to let you know Indian govt contribution to education is minimal. Most people who leave India is because the system is poor and they fend for themselves with private education. The Sg education system is world beating.
From your earlier posts I have no doubt that you are rational and not a racist . So please you don't have to preach to the concerted.
All your concerns are valid and I would definitely support a root cause analysis of the issues. I have nothing more to say regarding this. I can only say that Sg has given me a lot and I hope to keep contributing as long as I can and wish all Singaporeans well and consider them as my own.

Hopefully this is my last reply...I am not here to convinced anyone, any one with a good brain can see that it is a problem including yourself.
If you truly believe that SG Education is world beating ...it is funny that Sg Uni Grads have difficulties in finding GOOD JOBS which are taken away
by even young Indian fresh out of college. I am a father to two children , both are in the financial industry so I do know what I am talking about .( I am not talking about people like you who have vast experiences over the years before coming over ).

Is there any doubt that SG has given many India Indian a lot ; that is why we are overwhelmed with them from the very junior to the very senior. I truly hope that what you said that you considered Singaporeans as your own; than help us write a letter to the Straits Times asking the government to disclose the data , to be fully transparent( coming from a India Indian PMET would have better impact) ... If what most Singaporean impression are wrong , the negative sentiment against India Indian would subsided ( I think they are wrong to vent their anger there, it should be towards our government for the free flow of foreign labor into the country).

In my previous Job, I worked for a European who has been in Singapore for 25 years. He came to Singapore as a very young middle level manager
from the head office. ( I was than maybe three levels below him). He rose quickly and became the regional head( clearly it was part of his career path planning by head office).

He too got his PR after the first 5 years. His kids like yours knows "no others except Singapore" but they were in the
international school since he was under expats term. All this while he had the power to bring in tons of European colleagues from Head Office
to the Singapore or other Asia Branches but he did not do that. He only brought in really key person in key department to impart the necessary skills to the Locals be it in SG, Thailand , HK etc etc.

Finally after 25 years he still left and went home so did his kids ( none of them stay back in SG). He was happy that due to SG government CPF
he had a "LARGE NEST EGGS " to bring home... He is happily retired with a very big house which cost only a fraction of what one in Singapore would cost. Like you SG has given him a lot too, but he still left but the good thing is he left behind; was plenty of locals trained to do the jobs in various part of banking in countries where we had offices. Hopefully you too will train the locals and not bring in more India PMETs when the system is already overrun with them. ( hopefully I am proven wrong with transparent data from the Gov,,, ie full data with all the breakdowns).

Wish you the best of your stay in Singapore( hopefully to convert your PR soon ) , and hopefully your children will become one of us soon and enjoy the world beating education.

 

[Leckmichamarsch]

Do you not think that it is important to know what the percentage in key area of banking and that Locals must be able to operate them without the Foreigners ?

Example Singapore allocate large amount in Defense Spending against potential threats or as an insurance policy.

Let me give you an example, If One day India and China is at war, and India knowing that a Large percentage of her national are running the key operation in Singapore, and being one important financial center , there could be a scenario whereby India "ordered" all her nationals working in Singapore to "stop working" to disrupt the financial center hoping to disrupt the trade and payment system that will affect China...( Of Course it could also happened in Hong Kong where I understand there are large proportion of PRC in the Financial Sector, I am not faimilar with the HK scene , but I dont think it is as bad as Singapore ).

Anyway Thank You I am glad we are able to have a polite discussion without bringing the race card into it..

for sure CEO will bring all its bank cash to finance IndoSino wars...............