Comments
HardwareZone forum thread on the appointment of MAS' Chief Fintech Officer as advisor to Indian state govt gets deleted
On 19 September (Thursday), TOC published an article stating that the Chief Fintech Officer of Monetary Authority of Singapore (MAS), Mr Sopnendu Mohanty, has been appointed as the “well-known development strategist and financial expert” for the Indian state government of Odisha.
This news came to light after Times of India reported it, and added that Mr Mohanty will enjoy the rank and status of an Indian minister.
MAS set up a new FinTech & Innovation Group (FTIG) and appointed Mohanty as its Chief Fintech Officer to head FTIG back in 2015. FTIG was setup to be responsible for regulatory policies and development strategies to facilitate the use of technology and innovation to better manage risks, enhance efficiency, and strengthen competitiveness in the financial sector. Part of his responsibilities is to ensure safety and security in the use of FinTech in Singapore.
Upon reading about Mr Mohanty’s latest job, a netizen named Jeremy Cho immediately raised the alarm of potential conflict of interest with the man wearing two hats, one in Singapore government and the other in an Indian state government.
As such, Mr Cho sent an email to Prime Minister Lee Hsien Loong, Senior Minister Tharman Shanmugaratnam, DPM Heng Swee Keat, former Minister Lim Hng Kiang, Minister Shanmugam as well as other alternative media platforms, asking why Mr Mohanty could go work in India and still get to keep his job in MAS. He also forwarded an article with regard to Mohanty’s appointment in Odisha in his email.
On 17 September (Tuesday), Sherry Theng from MAS’ Corporate Communications Division replied to Mr Cho’s email, and he forwards a copy of the reply to TOC.
Ms Theng’s respond indirectly confirmed that Mr Mohanty has indeed been appointed as advisor to the Indian state government of Odisha. She said, “The article referred to in your email incorrectly describes that nature of Mr Sopnendu Mohanty’s engagement with the Odisha Government in India. He is not appointed as a Minister of State and is not part of the Odisha Government.”
Ms Theng further defended Mohanty’s appointment saying that he agreed to be state advisor to Odisha Government in “his personal capacity”. He also won’t “draw any compensation” and there is no conflict of interests.
In his counter argument, Mr Cho replied and copied to TOC, saying that it’s disappointing to see MAS treating Mohanty case as a small matter. He pointed to the Times of India article indicating that Mohanty will “enjoy the rank and status of a minister of state”.
“What does Mr Mohanty ‘enjoy’? How is that not a conflict of interests?” asked Jeremy.
“He is advising a foreign government who is according him elevated status. That is gratification, even if it isn’t monetary. Is he going to account for every meals, car rides and gifts he get in his capacity? And he is such a senior figure in MAS, how sure are you he is not sharing (Singapore) state secrets?” Jeremy enquired further.
“And what do you mean in his personal capacity? He is a full time employee of MAS. Where does he have (the) free time to advise a foreign government? Does he take leaves to do this ‘personal undertaking’. Does he travel on MAS expense? Does he do it all exclusively on weekends? You stated his job is to support Singapore’s industry not India’s. So why was he allowed to undertake this role?”
After this article was published on TOC, a netizen shared it on the Hardwarezone forum which garnered a lot discussion.
However, on Friday (20 September), the thread got deleted, which sparked more conversations among netizens. Many of them asked why was the thread deleted in the first place and requested the moderators of the forum to provide a reason for it. Hardwarezone is owned by the Singapore Press Holdings.
User called uselessbum said that without providing the reason for deleting the tread, the “default assumption is that it is political pressure due to the nature of the topic”.
Others said that under PM Lee’s leadership, the act of removing a thread on HardwareZone’s forum is definitely possible.
A few noted that this problem can be solved by hiring a Singaporean to be the Chief Fintech Officer, and not a foreigner.
Comments
Halimah Yaacob proposes classifying platform workers as employees for enhanced protections
Former Singapore President Halimah Yaacob hailed the Platform Workers Bill as a “good start” for protecting gig workers but suggested a simpler approach: classifying some platform workers as employees for automatic labour law, social security, and union protections. She emphasised that the current system, which leaves workers bearing all risks and costs, is unsustainable and adversely affects their future and families.
SINGAPORE: Former Singapore President Halimah Yaacob has lauded the recently passed Platform Workers Bill as a “good start ” in protecting gig economy workers.
However, she suggested that a more straightforward approach would have been to classify platform workers who meet certain criteria as employees, thereby granting them automatic coverage under labour laws, social security protections, and union representation—an approach already adopted by some countries.
In her Facebook post, Halimah acknowledged the Bill’s role in addressing the vulnerabilities of platform work.
The legislation, effective from 2025, mandates increased Central Provident Fund (CPF) contributions for platform workers and provides enhanced work injury compensation and representation through union-like associations.
The parliamentary debate on September 9 and 10 centered on the distribution of costs—whether they will fall on platform workers, companies, or consumers.
Concerns were raised about the potential impact on consumers and the financial burden on platform companies.
Several MPs expressed worries about discrimination against workers who choose higher contributions and advocated for expanding the law to include other platform services such as domestic cleaning and caregiving.
Senior Minister of State for Manpower Koh Poh Koon reiterated that the protections are meant to level the playing field for businesses and ensure fair competition, while also preventing platform operators from passing the costs unfairly onto consumers or workers.
Madam Halimah highlighted how platform work can distort the pricing of goods and services, with consumers expecting low-cost, fast deliveries.
She noted that if platform workers were classified as employees, the costs of their protection—such as for sickness, business downtime, and social security—would be borne by employers and partially passed on to consumers.
She said It’s then up to us to decide whether to make use of such great convenience but at a certain price.
“It’s then up to the companies to properly factor in their costs to remain competitive as all other businesses are doing. It’s all about the business operating model that has fundamentally changed with the availability of platforms.”
Madam Halimah argued that since platform workers are essentially employees subject to company conditions, they should receive the same protections as other employees in terms of health, social security, and business downtime.
She pointed out that platform workers have been shouldering all the risks and costs, which is not sustainable and affects their ability to secure homes and plan for the future, impacting their families and future generations.
She also discussed the negative aspects of information technology and algorithms, referencing a case from a US fast-food chain where algorithms disrupt workers’ rest periods based on fluctuating customer demand.
The Platform Workers Bill defines platform workers as individuals who provide ride-hailing or delivery services for an online platform and are under the platform’s control.
According to data from the Ministry of Manpower (MOM), there were approximately 70,500 platform workers in Singapore in 2023, accounting for about 3 percent of the workforce.
This total includes 22,200 taxi drivers, 33,600 private-hire drivers, and 14,700 delivery workers.
Comments
Concerns raised over job prospects for older workers as Singapore Turf Club begins retrenchment
As the Singapore Turf Club (STC) prepares to retrench the first batch of 90 employees amid its closure, concerns have emerged on social media about the impact on those nearing retirement. Many question if the job fairs and training courses will be adequate for securing new employment. The STC site is set to be returned to the government by 2027 for redevelopment into housing and other uses.
SINGAPORE: Following the announcement that the Singapore Turf Club (STC) will retrench all 350 of its employees in phases, the Singaporean community has voiced concerns on social media.
Many are worried about the impact on workers who are already in their mid to late career stages, questioning whether the job fairs and skills-training courses provided will be sufficient to help them secure new employment.
As reported by Singapore state media Channel News Asia, the first batch of 90 employees will be gradually let go between November 2024 and April 2025.
To support the affected workers, the STC has identified over 300 training courses, with about 95% of the employees having taken advantage of these opportunities.
On average, each worker has completed approximately 42 hours of training.
Additionally, the STC will hold two exclusive job fairs in September, offering more than 1,800 job opportunities across the hospitality, healthcare, and government sectors to its employees.
The timeline for the retrenchment of the remaining employees is still being finalised.
In a separate development, around 700 horses will be exported, and the final race at the Singapore Racecourse will take place on October 5, 2024.
In June last year, The Ministry of Finance (MOF) and the Ministry of National Development (MND) announced the STC’s impending closure, citing a decline in local horse racing spectatorship and the need to repurpose the land for the city-state’s growing infrastructure needs.
The approximately 120-hectare land parcel in Kranji, where the Singapore Racecourse is located, will be redeveloped for housing and other potential uses, including leisure and recreation.
The land is scheduled to be returned to the government by 2027.
As reported by CNA, retrenched workers from the Singapore Turf Club expressed mixed emotions about the impending closure.
Mr Subramaniam, who spent 45 years at the club, reflected on his deep personal connection to the racecourse, having started his career as a painter and later taking on various roles.
Ms Sandy Yong, who worked in the membership and rewards department for five years, lamented the loss of a supportive work environment but is preparing to transition to an administrative role.
“It’s hard to find a job that has good colleagues and good bosses,” she said.
Mr Samsudin Rakidin, with over 45 years of service, plans to rest before taking on new work, possibly in a hospital.
Concern Over Multiple Retrenchment News and the Impact on Workers in Their Mid to Late Careers
There was concern about the high number of retrenchments news reported recently, with comparisons drawn to other companies like Qoo10 Singapore, which also announced significant staff cuts.
Some comments noted the challenges faced by older workers, questioning whether the management could guarantee suitable job placements for them, given their age and the potential difficulty in finding new employment.
It was pointed out that retrenched staff nearing retirement age might struggle with lower-paying jobs or even pay cuts due to their specific skill sets and limited job market opportunities.
Nostalgia was also a common theme, with users recalling their personal connections to the Turf Club, including memories of growing up in the club’s quarters, underscoring the deep emotional impact of the closure on both current and former employees.
-
Singapore3 days ago
Minister K Shanmugam transfers Astrid Hill GCB to UBS Trustees for S$88 Million following Ridout Road controversy
-
Singapore1 week ago
Singapore woman’s suicide amidst legal battle raises concerns over legal system
-
Parliament5 days ago
Minister Shanmugam rejects request for detailed information on visa-free visitor offences: Cites bilateral considerations
-
Diplomacy1 week ago
India PM Narendra Modi meets with PM Lawrence Wong; Four MoUs signed
-
Opinion2 weeks ago
Singaporean voters and the ‘Battered Wife Syndrome’
-
Parliament6 days ago
PAP MPs attack WP Gerald Giam in Parliament over NTUC independence from ruling party
-
Politics1 week ago
PAP adopts SDP policies after criticizing them: Dr Chee urges Singaporeans to see through tactics
-
Politics4 days ago
11 former or current PAP MPs & Ministers underscore heavy presence in NTUC leadership