THE INTELLIGENT SINGAPOREAN

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Archive for May 28th, 2007

First A*Star, then Shin Corp and now EDB – IMHO What Really Went Wrong?

Posted by intellisg on May 28, 2007

whatwentwrong.jpgNOW I warn you all. I may be very obscure this time! That’s because I am terribly confused by the spate of failures that has recently dogged agencies like EDB and A*Star and their parent ministry MTI (I am sure I don’t need to elaborate on the sordid details? They’re everywhere these days). Along with residues of the Shin Corp debacle.

Are these failures just isolated cases? Or do they suggest there’s an underlying reason why these fiascos are regularly churned out these days? I am not suggesting that something like the curse of the Mummies has befallen our red pimple of a country. Or that it’s time for whole cabinet to take a giant flower bath to cast aside evil – but what’s happening here?

Till now most pundits in the MSM and blogosphere have done quite a good job of examining; who-was-responsible? – who- pulled- the- plug? Others contend each of these failures are no more than isolated incidences, each with its own extenuating circumstances?

Then there are those who have wax lyrical these recent spate of failures are simply the necessary cost of pursuing a pro-active policy of expansionism. The damage control rhetoric would probably read, “no risk, no gain la! Didn’t you mama tell you that dummy!” Besides we are told the financial losses suffered by Shin Corp, the pull out of John Hopkins and UNSW’s, “no show,” hardly amounts to a hill of beans to de-rail Singapore Inc from carving out a competitive advantage. It’s “business as usual.” How could we disagree? After all we all know the business environment is a feral hit and miss domain where all types of risk abound and if we play it safe, it profits us none – right? Read the rest of this entry »

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