Read? Ministers respond in Parliament to NCMP Leong Mun Wai's comments on not having 'homegrown' DBS CEO
Most of us heard about Black Cat or White Cat quote ... Deng Xiaoping famously said "It doesn't matter whether a cat is black or white, as long as it catches mice."
Hmm .. give you new quote
Singaporean Cat or Homegrown cat?
What so great about having a homegrown cat?
Let compare DBS and Singtel Cat.
Singtel Cat has always being leaded by homegrown Cat. So what?
Singtel stock price has been down from historical peak since those initial days of Dotcom bubble at $5 but when you look at DBS stock price setting new historical records and the last peak is at $30. Cat can catch mice will make the great difference and NOT politically correct Cat who can't catch more mice.
Anyway; most people will say politics are dirty and politicians have to play this type of game to score points! Bo pian!
Uncle8888 is happy with DBS Singaporean Cat who can catch more mice and putting them in his pocket!
How not to be happy with DBS Singaporean Cat leading our homegrown, largest SE Asia Bank out Japan?
Look at the chart!
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Investing & running business is to make money and profits. So even if foreign cat, as long can make lots of money, also can! Should have gotten the French to run NOL for us! Or Japs / Taiwanese to run SMRT... :P
ReplyDeleteI mean how many Sinkies now also put their SGD into US, China & HK stocks too right? Not to mention many cheap & good stuffs across the causeway when borders re-open! ;)
When comes to making money who will be so loyal to "buy local" no matter what? LOL!
Local only when it affects their pocket hehehe.
DBS and Singtel is just one example! there are many other examples of lousy not local homegrown cats! Too many in fact!
ReplyDeleteAnyway, both cats are so so cat, bcos majority of their businesses are locally driven and supported by the government and very little competition locally.
It is good for your pocket does not make them good cats in the company, bcos it’s just that these two companies are just having competition in locally and never really see the outside big world stage completion.
Only good in south was asian games does not mean u can qualify for asian or olympic games! I say qualify, let alone win.
But I know that is the aspiration of our govt and Sg who only want or can do well in the small local arena.
Anyway, the problem of Singtel is the local cat getting too comfortably fed, for too long so where got drive. Just getting fatter and lazier!
The not homegrown cat, have a tougher life in its homegrown country, so slightly tougher and bcos his stint in DBS is shorter, does not mean in a matter of time, he will not grown fat and lazy if comfortably fed.
So I think the problem has nothing to do with homegrown or not! The problem is who becomes too comfortably fed over a longer time!
Yes, ur pocket maybe full, but it affects only ur pocket, whether it do good for majority of Singaporeans it is question mark?
Of course our Sg poor culture n education tends to teach us to care only about our own pockets!
This the country I live and love!
I believe Singtel has highest number of Singaporean retail investors due to discounted shares given by Ah Gong. When Singtel stock crashed and started to "hit" small retail's pocket; Ah Gong realized it was a grave mistake as they couldn't control the Market. Hitting even small pocket might be giving away "blame" votes to Opp.
DeleteYeah.. my mum own singtel shares that she does not even know.. Anyway.. govt sector or Temasek owned- companies good for local market but gradually declining... due to inefficiency, lack of proper and efficient competition and leader and management team cats growing lazier and fatter!
DeleteAnyway the lead Dowager female cat is still in charge! What good can that be?
Local market also too small.
So whether homegrown or not homegrown cat, it’s a matter of time, also will face difficulty over time..
SGX is home ground cat isn’t he?
CW,
ReplyDeleteLOL!
You brave! Dare to tell the truth from landowner perspective ;)
Then again, our financial community is about wannebes owning a few shares and thinking they are "business owners"...
If you speak like that in social/political forums, you'll be spat on until drown!
Imagine we say only Singaporeans can trade and invest in SGX stocks? Foreigners should not "compete" with local investors???
For those who insist on Singapore born and bred, well, I'll only take them seriously if they start the ball rolling by only hiring LOCAL Singaporeans maids themselves ;)
Me?
I've lost the right to complain about competition from foreigners; I was foreigner in other people's country before...
Interesting on "I've lost the right to complain about competition from foreigners; I was foreigner in other people's country before..."
DeleteDid you feel the ground on foreigners when time was bad there?
CW,
DeletePeople are the same everywhere.
Some have an Olympics or citizen of the world mindset.
Some think regionally like in Asian or SEA games.
The majority will think and behave locally - the best example is the US football or baseball leagues where they call themselves World Champions when its only a local local league... LOL!
No need to look elsewhere.
You are "young" enough to remember a time when Chinese compete on a dialect level in the 50s to 60s. Try entering the hotel industry when you are not Hainanese...
Then there's the divide between channel 5 and channel 8 Chinese.
When resources are plentiful, there's no such thing as labelling.
When resources are scare... People will tell you, "You're not Teochew. Why you staying in Hougang? Get out!"
That's why I don't support the local born and bred rhetoric.
One day, it may bounce back to me.
If Singapore is like US or HK today, I would definitely relocate if mom is not around.
I'm not a carrot; I'm mobile ;)
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ReplyDeleteThis is a hypothetical story.
ReplyDeleteIn the beginning, there are 100 Singaporean cats. Not enough cats to catch the mice. So, import 1 new foreign talent cat. FT cat did a good job. Not only that, because he's only 1 FT cat mixing with 100 other SG cats, he was somewhat "forced" to integrate into SG society. The experience with the FT cat was so good that 99 other FT cats were imported. Now, it's 100 SG and 100 FT cats. Most are talented cats who can catch mice effectively. We have more cats to catch mice now. So, sounds like a good thing, right?
Unfortunately, the cats are now divided into political factions - SG faction vs FT faction. Instead of catching mice, resources are spent fighting one another. Teamwork is gone. Civil war.
Lesson learnt: Must control quantity and quality of FT cats, and enforce rules to integrate FT into SG culture. Once FT critical mass is reached, there's high risk of infighting. No matter how talented FT cats are, it is useless if FT and SG cannot get along with each other.
There are many EU small countries are little dot too with not much resources, like Sg and Sg have good port location, while those small EU countries may have something else.. so almost same..
ReplyDeleteEg Netherlands have nothing but a submerged water country facing risk of flood... Finland with nothing but cold weather... With small population.. so is Denmark, then Sweden, Switzerland..
These countries produced international companies with so little! If we dunno, does not mean there isn’t is bcos most Singaporean only know our own country.
Netherlands - unilever, shell, heineken
Denmark - Maersk, and many more companies with billions of cap that will shocked u..
Finland - Kone, once Nokia (at least they use to have an international world leader unlike us)
Pls go google there are more...
they dun rely on FT... yes we may have less longer history.. but at least we can build on them.. but i doubt we can.. bcos of our weak n short te narrow mindset..
LKY is history.. we need to look forward. His method is useful in the past, does not mean it’s applicable now...