Author / Joanne

Mr Lee Kuan Yew passed on young…will you too?

Mr Lee Kuan Yew

As Singaporeans continue to ponder the legacy of Mr Lee Kuan Yew, it would do us well to recognise that Singapore is a product of imagination and human endeavour, a mix of ideals, vigour, fortitude and courage, the attributes that make for superior leadership.

A highly inspiring poem in this regard is “Youth” by Samuel Ullman.  It is a poem which highly inspired Konosuke Matsushita, founder of Panasonic, the largest Japanese consumer electronics company.

“YOUTH”

by Samuel Ullman

Youth is not a time of life;

it is a state of mind;

it is not a matter of rosy cheeks, red lips and supple knees;

it is a matter of the will, a quality of the imagination, a vigour of the emotions;

it is the freshness of the deep springs of life.

Youth means a temperamental predominance of courage over timidity,

of the appetite for adventure over the love of ease.

This often exists in a man of sixty more than a boy of twenty.

Nobody grows old merely by a number of years.

We grow old by deserting our ideals.

Years may wrinkle the skin, but to give up enthusiasm wrinkles the soul.

Worry, fear, self-distrust bows the heart and turns the spirit back to dust.

Whether sixty or sixteen, there is in every human being’s heart

the lure of wonder,

the unfailing child-like appetite of what’s next, and

the joy of the game of living.

In the center of your heart and my heart there is a wireless station;

so long as it receives messages of beauty, hope, cheer, courage and power

from men and from the infinite,

so long are you young.

When the aerials are down, and your spirit is covered with snows of cynicism and the ice of pessimism,

then you are grown old, even at twenty,

but as long as your aerials are up, to catch the waves of optimism,

there is hope you may die young at eighty.

We honour Mr Lee Kuan Yew, who was a leader and a fighter with a relentless drive to improve the well-being of his nation, and who continued to learn well into his old age.

With his courageous and adventurous spirit, Mr Lee Kuan Yew passed on young at ninety-one. 

Will we be young when we pass on?  It is a worthy choice we all can make.

Chase that rainbow

Honouring a Great Leader, Mr Lee Kuan Yew (1923 – 2015)

Lee Kuan Yew

Today, we honour our founding Prime Minister, Mr Lee Kuan Yew, who passed away early this morning. Mr Lee Kuan Yew was, without a doubt, a great leader, a real blessing and inspiration to all Singaporeans.  

If we look at an atlas of the world, Singapore, the country, fits quite nicely into the letter “o” in its name.  Indeed, in most atlases, they have to make a point of enlarging the dot so that Singapore may be pointed out. That is how small Singapore is.

When Singapore became, rather unexpectedly, independent in August 1965, it had to find its own way into the future: the dream of a common market in Malaysia was broken, and Indonesia was still conducting konfrantasi (military confrontation against) Singapore.

Singapore had to reach out beyond its immediate surroundings and “leap frog” the region to adopt the whole world as its hinterland, its source of capital, investment, research and technology, management capability, and, most of all, markets.

Singapore is the result of human imagination and human endeavour.

Singapore has attained First World status economically, and has become a guide and a hope for many nations.

Mr Lee Kuan Yew personified leadership that was visionary and courageous, which set Singapore on the good and right path to all we have been able to accomplish in the first 50 years of independence.  Plans for economic and social development were carefully conceived and well executed.

But there is a deeper cultural reason to explain Singapore’s success since independence.

The explanation lies in an ability to trust Singapore to be honourable and be a place where promises are kept, the rule of law is maintained, justice is assured, intellectual property rights are protected, meritocracy is practised, and government policies are consistent.

Singapore offers integrity, incorruptibility, reliability, quality, and trustworthiness, keeping promises even though it may involve lots of hard work and overcoming unexpected difficulties.

“Trust” and “trustworthy” are the key words.  Trust is the lifeblood that determines the quality of relationships that undergird every community and society.  And honour is the foundation of trust, where the people, business and government deliver on their word of honour.

Honour has been the foundation of Singapore’s trustworthiness.  It is a fundamental virtue in the compass for the country’s success in the years to come.  It is a virtue which has to be renewed with every generation of Singaporeans as well as be a constant reminder to all Singaporeans.

Honour is the essential quality that distinguishes Singapore from many nations in the world.  It is the special brand of Singapore. 

Mr Lee, we owe so much to you on the way to think, the attitude to life, and the resourcefulness and determination to get things done.  This is our expression of gratitude and praise, that you left us a legacy that is for us either to enjoy and build upon, or to take for granted and waste.

Lesser leaders count the value of their leadership on the basis of the organisation breaking down after they leave.

Great leaders count the value of their leadership on the basis of the organisation they leave behind being able to go on to greater heights with strength and vigour.  

Mr Lee Kuan Yew was, without a doubt, a great leader.  

Photo Credit: http://www.lee-kuan-yew.com/leekuanyew-memoirs.jpg

Wisdom from Warren Buffett

Warren Buffett

Warren Buffett has just released the 2014 Berkshire annual letter to shareholders.  As always, it contains much common sense, straightforward talk, simple truths, and lessons for wise living and investing.

Following is a collection of quotable quotes from the letter:

  • At Berkshire, we much prefer owning a non-controlling but substantial portion of a wonderful company to owning 100% of a so-so business.
  • Fortunately, my blunders normally involved relatively small acquisitions. Our large buys have generally worked out well and, in a few cases, more than well. I have not, nonetheless, made my last mistake in purchasing either businesses or stocks. Not everything works out as planned.
  • Attentive readers will notice that Tesco, which last year appeared in the list of our largest common stock investments, is now absent. An attentive investor, I’m embarrassed to report, would have sold Tesco shares earlier. I made a big mistake with this investment by dawdling.
  • Investors, of course, can, by their own behaviour, make stock ownership highly risky. And many do. Active trading, attempts to “time” market movements, inadequate diversification, the payment of high and unnecessary fees to managers and advisors, and the use of borrowed money can destroy the decent returns that a life-long owner of equities would otherwise enjoy. Indeed, borrowed money has no place in the investor’s tool kit: Anything can happen anytime in markets. And no advisor, economist, or TV commentator – and definitely not Charlie nor I – can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.
  • There are a few investment managers, of course, who are very good – though in the short run, it’s difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship.
  • From my perspective, though, Charlie’s most important architectural feat was the design of today’s Berkshire. The blueprint he gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.
  • Too often CEOs seem blind to an elementary reality: The intrinsic value of the shares you give in an acquisition must not be greater than the intrinsic value of the business you receive.
  • Post mortems of acquisitions, in which reality is honestly compared to the original projections, are rare in American boardrooms. They should instead be standard practice.
  • Since I entered the business world, conglomerates have enjoyed several periods of extreme popularity, the silliest of which occurred in the late 1960s. The drill for conglomerate CEOs then was simple: By personality, promotion or dubious accounting – and often by all three – these managers drove a fledgling conglomerate’s stock to, say, 20 times earnings and then issued shares as fast as possible to acquire another business selling at ten-or-so times earnings…For many, gushers of easy money washed away ethical sensitivities…Back then, accounting shenanigans of all sorts – many of them ridiculously transparent – were excused or overlooked. Indeed, having an accounting wizard at the helm of an expanding conglomerate was viewed as a huge plus: Shareholders in those instances could be sure that reported earnings would never disappoint, no matter how bad the operating realities of the business might become.
  • At both BPL and Berkshire, we have never invested in companies that are hell-bent on issuing shares. That behaviour is one of the surest indicators of a promotion-minded management, weak accounting, a stock that is overpriced and – all too often – outright dishonesty.
  • With all its excesses, market-driven allocation of capital is usually far superior to any alternative…Nevertheless, there are often obstacles to the rational movement of capital…A CEO with capital employed in a declining operation seldom elects to massively redeploy that capital into unrelated activities.…At the shareholder level, taxes and frictional costs weigh heavily on individual investors when they attempt to reallocate capital among businesses and industries. Even tax-free institutional investors face major costs as they move capital because they usually need intermediaries to do this job. A lot of mouths with expensive tastes then clamour to be fed – among them investment bankers, accountants, consultants, lawyers and such capital-reallocators as leveraged buyout operators. Money-shufflers don’t come cheap…In contrast, a conglomerate such as Berkshire is perfectly positioned to allocate capital rationally and at minimal cost. Of course, form itself is no guarantee of success: We have made plenty of mistakes, and we will make more. Our structural advantages, however, are formidable.
  • If horses had controlled investment decisions, there would have been no auto industry.
  • Charlie told me long ago to never underestimate the man who overestimates himself.
  • never forget that 2+2 will always equal 4. And when someone tells you how old-fashioned that math is — zip up your wallet, take a vacation and come back in a few years to buy stocks at cheap prices.
  • As Ben Graham said many decades ago: “In the short-term the market is a voting machine; in the long-run it acts as a weighing machine.” Occasionally, the voting decisions of investors – amateurs and professionals alike – border on lunacy.
  • Character is crucial: A Berkshire CEO must be “all in” for the company, not for himself. (I’m using male pronouns to avoid awkward wording, but gender should never decide who becomes CEO.) He can’t help but earn money far in excess of any possible need for it. But it’s important that neither ego nor avarice motivate him to reach for pay matching his most lavishly-compensated peers, even if his achievements far exceed theirs.
  • A CEO’s behaviour has a huge impact on managers down the line: If it’s clear to them that shareholders’ interests are paramount to him, they will, with few exceptions, also embrace that way of thinking.
  • In its early Buffett years, Berkshire had a big task ahead: turning a tiny stash into a large and useful company. And it solved that problem by avoiding bureaucracy and relying much on one thoughtful leader for a long, long time as he kept improving and brought in more people like himself…Compare this to a typical big-corporation system with much bureaucracy at headquarters and a long succession of CEOs who come in at about age 59, pause little thereafter for quiet thought, and are soon forced out by a fixed retirement age.

Read the full letter here: http://www.berkshirehathaway.com/letters/2014ltr.pdf

Photocredit: http://pbrnews.com/wp-content/uploads/2014/11/warren_buffett.jpg

LEARNINGS FROM DAVOS  

Davos

Leaders make things happen which on their own would not happen. It is the privilege and responsibility of a leader to make their organisations the best they can be, to harness the creativity of their people, and, most of all, to make sure their organisations and their people are in time for the future.

Ideas do not always come from big speeches and deep ideas…they can also come from little snippets of conversation.

Here are snippets from conversations at the World Economic Forum that I had attended at Davos.

I hope that you would be able to draw wisdom from them and create value from them:

  1. The world ahead will not be about companies that win and companies that lose. The world will be about nations that win and nations that lose.
  1. The nations that win will be nations where there is social mobility – so that talent can emerge and develop and blossom – and nations that can deal with technology, because technology will be the biggest enabler and the greatest differentiator of all factors. As mentioned in “The Leader, The Teacher & You”, the potential of nations is determined by geography, demographics, and technology, but how well nations realise their potential will depend on their economic policies and their political culture.
  1. Time, talent, and energy are badly managed in the great majority of organisations – this is mostly due to management not reducing organisational drag.
  1. ‘A’ performers are not simply better than the rest – they are A LOT better than the rest.  ‘B’ and ‘C’ performers, even if they work well together, cannot produce ‘A’ performance’. Most companies employ ‘balanced’ teams throughout the company by building comprise a mixture of ‘A’, ‘B’ and ‘C’ players. Companies should instead think about being unegalitarian; that is, they should form and deploy ‘all-star’ teams. ‘All-star’ teams must also be led by ‘A’ leaders as they cannot function effectively under poorer quality leaders.
  1. Supervisors create work; therefore REMOVE unnecessary supervision. Eliminate excess supervisors. Liberate unproductive time. Remove excessive emails & meetings – these leave very little time for getting real work done.
  1. No one ever washes a rental car’ – make sure your workers are engaged in their work.
  1. CEOs must make sure their employees know the direction of the company, the behaviours and values expected must be made very clear – communicate, communicate, communicate.
  1. To win, a company must simply work harder, move faster, and embrace constant change.

MR LIM SIONG GUAN IN A PRINCIPAL’S EYES

ST_20140831_SLLIM31_623335e

The previous weeks mentioned an English translation of one of the two additional articles to be found in the Chinese version of the book “The Leader, The Teacher & You.”  The following is the English translation of the second article: 

MR LIM SIONG GUAN IN A PRINCIPAL’S EYES

by Mrs Ho Woon Ho

In my 20 years career as a Chinese teacher, I have been abiding to the orders or commands from my superiors without any doubts. I thought my superiors are not to be questioned.

It was till 1997 when I became the principal of Henderson Secondary School that I learnt that opinions from the ground can actually be heard. In that same year, a new Permanent Secretary was appointed, and he was Mr Lim Siong Guan. Mr Lim is a wise and knowledgeable person, who is at the same time good at listening. His remarkable effectiveness and efficiency has transformed the working culture of the education system.

During his three years’ term from year 1997 to year 1999, there are three things that have left an impression on me until now.

First, an e-mail he sent to all principals.  I cannot remember the details now, but I do recall it was a reminder to the principals, requesting us to respond swiftly to e-mails regarding execution of policies or instructions.

I responded right after reading the e-mail and informed Mr Lim about the situation of my school: a run-down school building with only one computer in the staff room, where more than ten teachers will crowd in a small room and take turns to use the computer. How was it possible for me to hog the shared computer and readily respond to the e-mails from the headquarters?

The next day, I received an e-mail from Mr Lim, informing me that he has arranged to link my personal computer at home to the MOE headquarters’ server, so I can check my e-mails from MOE even when I am at home. He solved my problem in a snap of the finger, how could I slack in my position?

Photo Credit: http://www.straitstimes.com/news/singapore/more-singapore-stories/story/lim-siong-guan-superman-yoda-change-crusader-20140902

In March 1998, my school received the promotion list from the HR department of MOE. I was very shocked to see Head B promoted but not Head A. From my knowledge, Head A is well ahead of Head B in terms of years of experience, quality of work, performance and evaluation. I even checked and verified with my predecessor that Head A did have a better evaluation result than Head B. Hence I asked the school superintendent if there is any way to rectify the situation. He said the HR department has their own standards and there is no way we can pursue this issue. I called HR of MOE personally; the staff said there were guidelines to follow which they could not reveal.

As I was feeling indignant about the issue, I thought of Mr Lim. I wrote to him, explained the situation and asked him to look into the issue. On the evening of the same day, he replied to my e-mail saying that if it was a mistake committed by MOE, MOE would rectify it immediately. On the next day, HR department called me and confirmed that Head A should have been promoted. I was so grateful and touched, to me; Mr Lim was fair and wise like King Solomon.

In the year 1999, MOE chose Henderson Secondary School to be one of the pilot schools for testing out a “learning organization” programme. Half a year later, my head of department (HOD) and I visited MOE HQ to present our implementation report. After our presentation, Mr Lim Siong Guan asked my HOD whether the school could continue with the programme if there were a different principal. My HOD replied that she hoped I could stay on for a longer period of time. I took the opportunity to express my view on the rotation of principals. I personally felt that a principal should be kept in a school for longer than four or five years. This was apparently different from the policy implemented by Mr Lim at that time. However, he did not argue for, or defend, his policy, but smiled at me instead. His reaction again proved to me his magnanimity.

Humble Beginnings (Part II)

The following is an excerpt from one of the two additional chapters included in the Chinese version of the book, “The Leader, The Teacher & You”.

HUMBLE BEGINNINGS OF AN OUTSTANDING FIGURE: INTERVIEW WITH MR LIM SIONG GUAN (PART II)

By Ms Poon Sing Wah

Lim Siong Guan

 HOW TO BE A GREAT MENTOR

Mr Lim thinks that it is his good fortune that he had both Mr Lee Kuan Yew and Dr Goh Keng Swee as mentors during his career.

“These two leaders made bold and strategic decisions. When faced with new challenges, some leaders might not grasp the opportunity to make timely decisions. But both Mr Lee and Dr Goh were very wise, and they chose to face challenges head on and not avoid them.

Working with such leaders made work extremely satisfying. Not only did they dare to make tough decisions, they also gave me the chance to work on difficult issues. If my boss does not give me the chance to grow and try new things, I would be frustrated and unhappy, but I never faced such a problem whilst working under Mr Lee and Dr Goh. We had our own work to do but when we came together to work on something, we achieved excellent results.

Founding Prime Minister Mr Lee Kuan Yew was a great mentor. Regardless of how big or small the meeting was, or even if it was not related to my work, he would let me participate. He did it in order to expand my understanding of things so that I would be well prepared for any problems that I might face in the future. He also took the time to explain government policies to me so that I would have a complete understanding of them and be able to better understand policy formulation.

Mr Lee taught me that when it comes to nurturing the next generation of leaders, we must do our best and make the effort to help them fully understand the meaning of government policies, as well as the various problems that we faced in the past to teach them that policies are dependent on the external environment that constantly changes,” said Mr Lim.

LEAD WITH THE SPIRIT OF A TEACHER

Mr Lim’s mother, wife and sister were all teachers. From them, he learnt that all teachers expect their students to do better than their teachers and it is such an extraordinary concept that all leaders should embrace.

“Leaders must treat others the way teachers treat their students. They must want others to do better and to even surpass their own achievements. I believe a great leader must be a teacher. A great leader must do all he can to help others to succeed, to help others to be more competent so that they can contribute more. This will do well for him as a person and for his career as well.” explained Mr Lim.

CONTINUOUSLY REFLECT AND SEIZE OPPORTUNITIES

Mr Lim does not see himself as someone who is intelligent enough to spot problems, but rather as someone who is willing to listen to others.

“Wherever I go, I hope to help my staff be the best that they can be. When I’m at a new organization, I will ask the staff, regardless of their rank in the organization, which practices should be stopped and if they have any new ideas that should be implemented.

By doing so, I will be able to quickly know the areas that need to be improved on because no matter where you go, most people want to do a good job. That’s an indisputable fact. Once you have determined what the problem is, then you can think about how to make things better, what else you can do for the organization etc. Therefore, I think of myself as a motivator and not the source of all wonderful ideas. I don’t solve the problem on my own. Instead, I find people who understand the problem to solve the problem. I will not give up until I have exhausted all means and I have tried out many different ideas,” said Mr Lim.

Humble Beginnings (Part 1)

In the previous post, it was mentioned that the Chinese version of the book “The Leader, The Teacher & You” contains two additional chapters.The following is an excerpt from one of the two chapters written by Ms Poon Sing Wah, who had translated the book from English to Chinese.

Lim Family

The Humble Beginnings of an Outstanding Figure: Interview with Mr Lim Siong Guan: Part I 

By Ms Poon Sing Wah

With his humble beginnings, Mr Lim Siong Guan is the “Singapore Story” that Singaporeans can be proud of.

Mr Lim Siong Guan’s father, Mr Lim Teck Seng, was a taxi driver while his mother, Mrs Mary Lim, was a school teacher.

Mr Lim’s father came from the south of China to Singapore to make a living, and eventually married the daughter of his supervisor. After the wedding, he moved into a rent-controlled compound house in Upper Serangoon that was shared with 20 other relatives.

“My father was educated in China, where, perhaps, the standard of education then wasn’t very high but he put his heart and soul into learning English.  He was very conscientious and was the type of person who would memorize the entire English dictionary. Since he was a taxi driver, he could speak many different dialects. My grandfather was Peranakan so we mainly spoke Malay and English at home. Even though my father was a  Hokkien, we did not speak much Hokkien at home.

“We were also staying with two of my mother’s sisters. One of my uncles was a bus driver while the other was a truck driver. All of us lived together and as I was just one among all the children, I was not spoilt. We were not well-off. We children got only two new sets of clothes a year – during Chinese New Year and at Christmas,” said Mr Lim.

As Mr Lim’s father was busy at work, he was not at home most of the time but he would try to be near Mr Lim’s school to pick him up every now and then. That always surprised and excited the young Mr Lim. “Every fortnight or so, my father would “happen” to be at my school gates to bring me home. That made me very happy. It is his way of showing love to his children. I have three other sisters and my father would occasionally bring home some delicious food for all of us. He always told us to watch over our health. ‘Health is wealth,’ he used to say. Sadly, my father passed away when he was only 52 years old,” recounted Mr Lim.

He particularly remembers his father giving him a book “How to Win Friends & Influence People” by Dale Carnegie when he was in secondary two, which inspired him. He learnt how to win the trust of his teachers and peers through his actions. Most importantly, he learnt how to put others before himself, to see things from their perspective and to think of ways to help them to be better. Helping others has always made Mr Lim feel happy and satisfied.

He joined the Boys’ Brigade in secondary school and benefited greatly from it. The object of the Boys’ Brigade, which is the advancement of Christ’s kingdom among boys and the promotion of habits of obedience, reverence, discipline, self-respect and all that tends towards a true Christian manliness, acted as Mr Lim’s guiding light. During his time in the Boys’ Brigade, he was the leader of the band and a drummer. He even managed to attain the highest rank of Colour Sergeant. Joining the Boys’ Brigade taught him leadership and organizational skills.

“What right do I have to be proud? Even though I was the leader of the band, I still needed the cooperation of every single member. We had to return to school every Saturday to prepare for a band performance. Since I needed them very much, why don’t I think of ways to help them do their work better? That was how I felt.” explained Mr Lim, as to why he was never conceited and arrogant.

Mr Lim never had the luxury of tuition. His parents only asked that he would do his best in everything he did. As such, he was never pressured to excel in school. His father never blamed him if he did not do well in school. Instead, he would bring the family for a picnic at the beach to relax when he felt the children were too stressed.

Not long after Mr Lim was born, he was baptized, together with his mother, to be a Christian. His father only became a Christian much later in life. Ever since he was little, he would attend Sunday School every weekend, where he learnt that one should always seek to do what is good and right. 

“We’re Methodist. My mother taught at Paya Lebar Methodist Afternoon School and that’s where I started school. My mother was strict at home and in school. She expected me to give my all in everything that I did. She was hardworking and well respected by her students. I think she was even feared by some of them. She was very well liked there. Everyone knew her as Mrs. Mary Lim. Back then, Paya Lebar Methodist Girls’ School functioned in the morning, while Paya Lebar Methodist Afternoon School took in boys. Before the entire school became absorbed as Paya Lebar Methodist Girls’ School, I was transferred to Anglo Chinese School at Coleman Street, thanks to the recommendation of my pastor.  So now I am an alumnus of a girls’ school,” said Mr Lim.

As Paya Lebar Methodist Afternoon School was not nearly the same standard as Anglo Chinese School, Mr Lim found himself near the bottom of the class after his transfer in primary five. However, he was unfazed. “My parents only wanted us to do our best in school, so I was not in a state of panic,” explained Mr Lim.

Anglo Chinese School is often referred to as a “rich man’s school”, where many students come from wealth. However, Mr Lim does not think of it that way. “I can’t say that it was. All of us got along very well. I would say that many of the ACS (Anglo Chinese School) students later on succeeded in life so they become richer but I think during my time, I can’t say that about many of my classmates,” he said.

STUDYING OVERSEAS 

It was only in secondary three when Mr Lim starting scoring As consistently. By the next year, he was the top of the class. However, it was unheard of then for students to score 8 A1s, 9 A1s, 10 A1s or even 11 A1s, as it is the case now for many students. 

“To do 8 subjects in secondary school then was considered remarkable, and to score 6 distinctions at the O levels was already an excellent result. Very few people scored perfect scores, unlike today where we have about 2000 students who score 4 As at the A levels. During my time, there were less than 10 students, maybe even less than 5, who would score 4 As,” said Mr Lim.

Knowing that his only chance of getting a university education would be through a scholarship, he worked hard and did so well that he was awarded the Colombo Plan Scholarship to study Mechanical Engineering at the University of Adelaide.

“A group of us went to Australia in February 1965. We did not even know then which university in Australia we would be studying in. Perhaps, the Australian government thought we needed more time to better our English so all of us went to Sydney for 2 weeks for some sort of orientation. Only later did I learn I would be studying in the University of Adelaide. There were interesting things for us to learn, like “sit-down toilets” instead of “squatting toilets”, for example,” explained Mr Lim.

It was only much later on when he was in Australia when he learnt that he was awarded the Yang di-Pertuan Negara Scholarship, which is now known as the President’s Scholarship. His mother accepted the scholarship on his behalf.

Singapore had not gained independence then, and the head of state was known as the Yang di-Pertuan Negara. So the scholarship was not known as the President’s Scholarship at that time. According to an article dated 16 May 1965 from the Nanyang Business Daily, the Yang di-Pertuan Negara Scholarship was inaugurated to replace the Singapore State Scholarship. This scholarship is as prestigious as the Queen’s Scholarship, which was abolished in 1959 and replaced by the Singapore State Scholarship when Singapore gained internal self-government.

There were a total of 6 scholarship recipients in 1965: Fan Bing Tin, Liu Chao Xin, Lu Qing Quan and Zhuang Ming Jun from Raffles Institution; Lim Siong Guan from Anglo Chinese School; and Wang Yu Jin from Raffles Girls’ School. Before the announcement of the scholarship, Liu Chao Xin was already reading Chemical Engineering in New Zealand while Mr Lim was already reading Mechanical Engineering in Australia. After getting the scholarship, Fan Bing Tin went on to read medicine in Canada, Lu Qing Quan went to England to read Production Engineering, Zhuang Ming Jun went to England to read Economics and Wang Yu Jin went to England to read Chemical Engineering.

When asked about how the selection process of today’s scholarship recipients might be less rigorous, Mr Lim said, “I don’t really think the quality of scholarship holders then was better compared to today’s holders. Perhaps because the number of scholarships given out then was much lower so there’s the perception that the quality of today’s scholarship holders is worse. I think one of the biggest differences is that back then most of the scholarship recipients came from low-income families but that might not be the case today.”

OUTSTANDING CIVIL SERVANT

At the age of 66, Mr Lim Siong Guan is currently the Group President of GIC, the fund manager for Singapore’s foreign financial reserves with more than US$100 billion under management. By the estimation of some research institutes, the total worth of assets managed by GIC is closer to US$300 billion, which makes GIC the seventh biggest sovereign wealth fund in the world.

From October 2006 to June 2009, Mr Lim was the Chairman of the Economic Development Board (EDB), which is the government agency for promoting inward investment into Singapore. The EDB managed to obtain investments with total worth of more than S$17.2 billion (US$13.8 billion approx.) and S$18 billion (US$14.4 billion approx.) in year 2007 and 2008 respectively.

Among the investments, one of the most remarkable achievements was the Rolls-Royce deal. In November 2007, Mr Lim managed to convince British power systems and engines giant Rolls-Royce to choose Singapore over the United States for their second aero-engine assembly plant after their existing UK facility in Derby. With over S$320 million (US$255.2 million approx.) invested, this is the largest single investment deal in the aerospace industry in Singapore. Every year, the facility can produce more than 400 aero-engines, each costing US$15 million to US$20 million.

From September 1999 to March 2005, Mr Lim was the Head of the Singapore Civil Service and spearheaded many revolutionising transformations to the existing policies and system.

Mr Heng Swee Keat, Minister for Education once joked that during policy planning, officers can be heard saying “this is very LSG” in respect of certain values and approaches that Mr Lim advocated.

In 2005, Mr Inderjit Singh, Ang Mo Kio GRC Member of Parliament once said in Parliament that civil servants used to have the “government-knows-it-all” attitude, but now it has improved.

In 2003, Mr Singh visited 10 young Singaporean entrepreneurs in the United States and all said they would not return home as there were limited or no opportunities in Singapore. After living in the opportunity-filled United States, some even thought that it would be a wrong decision to return to Singapore. Mr Singh said he too faced persistent obstacles when doing business, a situation he attributed to the old habit among officials of dismissing any idea that did not have its origins in the Government. He called it the NIH syndrome, his acronym for Not Invented Here or Not Initiated Here. ‘If the Government did not invent or initiate it, it must be bad,’ he said, referring to how civil servants viewed any out-of-the-ordinary idea from entrepreneurs.

However, two years later, he noticed a change in the situation. The government would take U-turns when some policies were not effective. The government was no longer distrustful of the private sector when it came to policy formulation; it started to engage business leaders in shaping policies. And there was public consultation before any major policy was made. One of the examples is the setting up of the Economic Review Committee – the government invited people from all levels of society to have a thorough review of the economic policies and provide revolutionary ideas and suggestions.

Mr Singh specifically mentioned Mr Lim Siong Guan, “There is also now greater self-scrutiny in the government. For example the Pro-Enterprise-Panel led by Mr Lim Siong Guan, the Head of Singapore Civil Service, reviewed the current policies of various government departments, which in turn have urged the civil servants to change their mindset and be more accepting of new ideas.”

In June 1994, Mr Lim Siong Guan was appointed as the Permanent Secretary in the Prime Minister’s Office, to institutionalize the overall appraisal of the civil servants’ potential and performance, and improve public sector efficiency and effectiveness. His tremendous effort on promoting PS21, Public Service for the 21st Century, resulted in a great response in favour of the movement.

In 1995, Mr Lee Hsien Loong, then Deputy Prime Minister said, “The fundamental reforms that the government underwent, were to open up the over centralized and inflexible human resource management, in order to face the new situations that would surface in the 21st century.”

“While even the best civil servants needed clear leadership and political guidance from ministers to function properly, the reverse was also true: without good support from the civil service, ministers may issue the loftiest strategic directions, and conceive the most visionary masterplans, but nothing will happen.”, he said.

This civil servant whom one should never under-estimates have helped ministers to implement visionary policy blueprints led 80 thousand civil servants to think out of the box and take the risk. He helped the country to build its international reputation and in the end earned himself the Order of Nila Utama (First Class). If this is ancient China, Mr Lim Siong Guan would be one of the top officials.

Launch of the Chinese Version of “The Leader, The Teacher & You”: 《怎样当领导》

The Leader, The Teacher and You  l  Launch of Chinese Edition on 1 Dec 2014The Chinese version of the book “The Leader, The Teacher & You”, 《怎样当领导》, was launched by Prof Tan Chor Chuan, President of the National University of Singapore, on 1 December 2014. The Chinese version is not only a full translation of the English version but carries two additional articles.

In his speech, Lim Siong Guan said the reasons the book was written were as relevant today as at the time the English version was published. Many favourable comments have been received on the contents and format of the book, and these are now carried over into the Chinese version.

The book is not only about principles of leadership and governance. It also addresses the challenges of passing the leadership of all types of organisations to the Third Generation leaders. 

After companies and organisations are successfully founded by the first generation leaders, usually the second generation leaders are brought in through an apprenticeship arrangement. The second generation leaders are exposed to the company through leading projects and sitting in meetings chaired by the first generation leaders – this is a good way of handing over leadership. The danger, however, lies in the passing on of leadership from the second generation to the third generation. If the same apprenticeship approach is adopted, the danger is great. 

Every generation of leaders needs to solve the problems of their day in their own way. They have to take into account the competition at that time, who their stakeholders are, what kind of staff they have, what their customers expect, and so on. So the second generation leaders cannot apply everything they learnt from the first generation. Suppose they can apply only 60% of what they learnt from the first generation. If the third generation learns the same way from the second generation, and suppose again they are able to apply only 60% of what they learnt, it means the third generation leaders will only use 36% of what came from the first generation. The loss of wisdom and judgment is very rapid.

The book makes the point that the way to preserve the wisdom and judgment that lies in the history of the organisation is to codify the values and principles of the first generation, and new learnings of the second generation. This way the organisation will build up its store of wisdom and knowledge, instead of having each generation of leaders keep addressing issues without the benefit of the past.

The book also makes the point that the highest aspiration of any leader should be to act as a teacher to the next generation. The aspiration of any teacher is to help his or her students to realise their potential to the maximum extent possible, so that the students can be the best they can be. This also should be the attitude of the leaders in any organisation.  They should seek to help all their staff realise their potential to the maximum extent possible, so that they can be the best they can be. This way the company will benefit the most from their human capital, and at the same time their people will be motivated to do their best.  The book explains how this can be done.

Leadership is a matter of doing the best for our people. It is other-centred.  Leadership is a matter of the heart.  It is hoped that all will enjoy the book and that it will make a positive difference to their lives.

《怎样当领导》can be purchased here: http://www.globalpublishing.com.sg/bookshop/9460.html

The Leader, The Teacher & You can be purchased here: http://www.worldscientific.com/worldscibooks/10.1142/p920

Our Teachers Deserve Our Honour

To many people, the teacher is a natural person to honour because he or she has been such an important part of the growing years of our life.

The following is a description of the teacher written more than 15 years ago, which can only evoke our sense of how much our teachers deserve our honour:

A Teacher

inspires love for Singapore

keeps the sense of wonder alive

cares deeply about morals and character

urges enterprise, innovation, curiosity and creativity

seeks to learn continuously, knowing that life never stands still

challenges students and helps them find the potential within themselves

believes there is no greater calling for influencing the young than being a teacher