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More dormitories for foreign workers to be built over next 2 to 3 years: PM Lee

SINGAPORE — In the midst of a temporary alcohol ban in Little India, the Government is also taking steps to improve the welfare of foreign workers.

BY SAIFULBAHRI ISMAIL –

7 HOURS 48 MIN AGO

SINGAPORE — In the midst of a temporary alcohol ban in Little India, the Government is also taking steps to improve the welfare of foreign workers. Speaking to reporters in Tokyo at the end of the ASEAN-Japan Commemorative Summit today, Singapore’s Prime Minister Lee Hsien Loong said a substantial number of dormitories will be built over the next two to three years to better house foreign workers.Even as authorities tighten the inflow of foreign workers over the years, Mr Lee said their population needs to be managed, and there is an on-going inter-ministerial committee that looks into their welfare.

“One of the focuses was to try our best to see how we could speed up the construction of more dorms, so that the workers who are now housed in HDB estate or private properties, which have been rented out, they can be put in proper dorms,” said Mr Lee. “Then I think they can be better taken care of and there can be less impact on the community.”

Mr Lee added there is also no evidence to show that the riot was caused by the lack of support for foreign workers.

He said: “We believe that foreign workers in Singapore ought to be treated fairly and properly. We do not stand for ill treatment or unfair treatment of foreign workers. We have to make sure they are well treated, they are paid properly on time, their safety is taken care of, their living conditions are up to standard, and they are given full protection of the law.”

Mr Lee also addressed concerns raised by businesses affected by the alcohol ban this weekend.

He said: “We don’t want anything to go wrong this week. So to make absolutely sure, we have a ban which covers quite a big area. And we said just no alcohol this week, and just calm down, cool down, and make sure things are back to normal.

“After that, we can calibrate and establish new rules. It would take some time to make out what the final rules will be, but I think we should have interim rules after this week. There is a downside to that timeout so everybody feels that and the timeout cannot last forever.”

The ban on the sale and consumption of alcohol covers 1.1 square kilometres in the Serangoon Road area — the scene of the riot on Dec 8. CHANNEL NEWSASIA

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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