TR EMERITUS

Energy giants Total and Chevron have been accused of propping up Burma's military government through their gas projects in the country. Rights group Earth Rights International says this has allowed the government to siphon off $5bn (£3bn) in revenue. The money has reportedly been stashed in banks in Singapore, instead of being used to ease poverty in Burma. The rights group also accuses Total and Chevron of ignoring forced labour, killings and high-level corruption. The two companies deny the allegations and say they play a positive and constructive role in communities, with development and educational programmes. Two Singapore banks named in the report also denied involvement. Government 'lifeline' Earth Rights International has published two reports about the Yadana gas pipeline project, which transports gas overland from offshore fields to Thailand. Critics accuse the Burmese junta of numerous human rights abuses ''Total and Chevron have essentially provided the military regime with its single largest lifeline - that being the revenue generated from the project," said Matthew Smith, the co-ordinator of Earth Rights International's Burma project. He explained that, in research conducted over a two-year period, sources explained how the Burmese generals kept the money out of the country's budget and stored it in bank accounts in Singapore. "Of the $4.83bn generated since 2000, approximately $4.8bn of that is not included in the national budget, and our sources indicate that the military regime is storing its illicit revenue and ill-gotten gains in two foreign banks in Singapore," he said. The report names the two banks, but both issued statements denying involvement in Burma's Yadana project and saying the findings are untrue and without basis. The allegation of human rights abuses are against the Burmese army which provides security for the Total and Chevron operated pipeline. Sanctions? Sean Turnell, an associate professor of economics at Macquarie University in Sydney who follows energy issues in Burma closely, says the way the ruling generals make so much money raises the issue of sanctions. ''As we know, countries like the United States and Europe have fairly strict financial sanctions on Burma," he said. "Burma's generals are able to evade these using other countries and I think what could be an interesting step forward would be for the countries that are levying these sanctions to try and pressure some of the other countries to similarly apply sanctions." Chevron and Total are not restricted by economic sanctions imposed on Burma's rulers by the US and the European Union. According to the BBC's Asia correspondent Alistair Leithead, there is a debate over whether sanctions should be strengthened or abandoned as an international approach towards Burma, where the majority of people live in severe poverty.   Source: Earth Rights International  Read More →

Dear Straits Times, I refer to your report dated 20 Jul 2010. It is said in the report that our rapid recovery has vindicated government efforts to diversify Singapore's economy over the last decades. But the urgent need to diversify the economy was made plain for all to see just less than ten years ago with the mass exodus of electronics firms to China. So this is not a vindication but a reminder to all that the government is no more forward looking than its own citizens. If several years from now, our drainage system becomes so improved that it is capable of handling massive downpours, does that vindicate government efforts to improve our drainage system or does that remind Singaporeans that the government sees and reacts to events and situations no sooner than its own citizens? Therefore, Citigroup economist Kit Wei Zheng's assertion that the government should take credit for being far sighted in its diversification strategy is unjustifiable. We can only say that the government reacts to mishaps and pitfalls even as they aren't far sighted enough to spot them and steer clear of them. The superlative growth in the first half of this year doesn't justify the government's decision to keep manufacturing as a pillar for it doesn't imply that a focus on other sectors wouldn't have been as successful if not more successful. SIM University labour economist Randolph Tan's assertion that without the government stepping in to retain labour, companies would now have to hire more and bid up wages is also not true. If the government didn't step in to retain labour, labour would have left and wages would have fallen. So even if subsequent rehiring bids up wages, it would simply mean that wages bounce back from where they had fallen. The only reasonable thing that Dr Tan can say is that the government's retention of labour helped to stabilise wages throughout the fall and rise in economic output.   Ng Kok Lim  Read More →

It's no wonder Singapore's productivity went all the way down eversince the country was sold by PAP in it's FT policy. Dishonesty at work and at job interviews are a norm in thrid world countries like China and India. While the Singapore businesses thought they've got a good deal by hiring FTs (whether it's due to cost or for the sake of diversity), they're actually denying qualified Singaporeans of their opportunities while importing unproductive and liars into their company. It's simply penny wise pound foolish - like every other PAP's policies in the last few years. “A recent study by KPMG found that about 60% of employers complain about resume fraud and fake credentials among significant numbers of applicants. Five percent of companies have reported losses exceeding $2 million as a result. The situation is such that many universities are now starting to embed RFID chips in their diplomas to prevent fraud.” Resume Fraud Rampant in India (http://blog.employeescreen.com/resume-fraud-rampant-in-india/) "A major part of the curriculum involved how to lie your way through job interviews into an office position. This ultra-pragmatism is pervasive in Chinese society today; people are less concerned with abstract notions of right and wrong than with getting things done. In economic terms, this fosters a business climate in which companies copy each others’ products, steal employees and business plans, and compete ruthlessly over tiny profit margins. But with little trust or sense of long-term planning and investment, they find it hard to grow and develop their businesses." Where Life Revolves Around Your Cellphone, the Factory Floor, and Forged Diplomas: A Q&A With the Author of Factory Girls. (http://freakonomics.blogs.nytimes.com/2008/12/23/book-qa-chinese-workers/) Jack Lim Please join our Facebook page here and invite your friends to do so to create awareness of the current affairs affecting Singaporeans. Please use our online web form to contact us.  Read More →