Did CapitaLand just adopt SDP’s proposal?

February 23, 2009
Singapore Democrats

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It was reported today that Government-linked company CapitaLand will pay its managers with shopping voucers. If this sounds familiar, it’s because the Singapore Democrats recently proposed in our alternative budget that Singaporeans be given spending vouchers.

Even before the budget debate began in February, the SDP had made a 5-point alternative plan that would help Singaporeans in the recession as well as to stimulate the economy. Among these is dispensing vouchers to households especially to the lower-income ones. (See here) Even a PAP MP raised the idea during the Parliamentary session.

So the next time the ruling party and its supporters say that the SDP is not a constructive opposition, just tell them that if CapitaLand and PAP MPs can adopt this and other of our proposals (see here), maybe its time the PAP starts acknowledging the truth about the Singapore Democrats.

CapitaLand pays staff bonuses in shopping vouchers
23 Feb 09

CapitaLand, Southeast Asia’s largest developer and Singapore’s biggest mall operator, will pay part of its managers’ bonuses this year in shopping vouchers.

“Staff will receive shopping vouchers in March, and the amounts range from S$750 to S$10,000,” a CapitaLand spokeswoman said. “About S$1 million ($654,000) worth of vouchers will be distributed in total.”

CapitaLand earlier this month said it will raise around S$1.84 billion via a rights issue after reporting an 88 percent slump in fourth-quarter net profit due to weaker sales in Australia and China.