Singapore’s business community viewed the decisions of Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew to leave the Cabinet with concern and hope, according to The Business Times.
Concern that the decision might put the country back due to the loss of global connections and experience developed by MM Lee and SM Goh, and hope that it might lead Prime Minister Lee Hsien Loong to create a new team that will bring the country forward, as desired by the two former prime ministers.
“We hope that with their strong relationships and goodwill, they will continue for as long as they can to open doors to help Singapore companies in their efforts to grow their business overseas,” said Choo Chiau Beng, Chief Executive at Keppel Corporation.
“The loss of George Yeo has resulted in a major loss of experience and competency. Now MM and SM have decided to leave the Cabinet – more and a bigger loss,” added a local businessman who declined to be named.
“Is this good for the country? Do any of the ministers today have the same level of recognition and authority as MM and SM in the international community. We live in a complex world today and MM and SM will be missed.”
Liew Mun Leong, Group Chief Executive at CapitaLand, in lamenting the decision of the two ministers, expressed his gratitude to Mr. Lee’s “unparalleled performance” for acquiring the discipline to reach budget surplus almost every year.
“Look at the budget fiasco the US and other Western countries have got themselves into,” said Mr. Liew.
He added that the country’s happy situation is the result of Mr. Lee’s “high integrity government with hard-nose thinking, financial discipline, long-term progressive thinking and efficient execution”.
“Without financial health, a small country like Singapore cannot feel safe,” he noted.
David Ang, Executive Director of Singapore Human Resources Institute, is concerned that the new Cabinet’s disproportionate concern with young voters may lead to the neglect of the older voters.
“You need diversity in the Cabinet to ensure there’s balance in policy-making,” he said.
However, PeopleWorld-Wide Consultancy Managing Director David Leong believed that there is no turning back.
“The new team must fight light with heavier responsibilities and the electorate is not forgiving and will push for changes if changes do not come from within the PAP,” he remarked.
Amy Khor, Minister of State for Environment and Water Resources, believed that PM Lee, in forming his new cabinet, might consider the “hard truths” mentioned by MM Lee and the country’s vulnerability.
“But hearing the voices of the people in the recent general election, greater attention will be paid to the visceral and emotional, and not just the intellectual aspects of policy making,” she said.
Huntington Communications’ Managing Partner S Kumar commented that it was a “magnanimous move” on the part of Mr. Lee and Mr. Goh to quit.
“One of the biggest hindrance for any Cabinet or management is the overhang factor,” he noted. “Now we can truly say, “Majulah Singapura”.”
Mr. Kumar also explained that stability, leadership and vision are the major considerations for business. Finally, the message of the departure of the two prime ministers is that “the leadership is serious about managing the country with a heart, listening to its constituency and ruling with a fair hand”.
To contact the journalist, you may send your message to editor@propertyguru.com.sg