Riot-Hit Singapore Insists Migrant Workers Treated Respectfully

Riot-Hit Singapore Insists Migrant Workers Treated Respectfully

By Agence France-Presse on 4:06 pm January 15, 2014.
Singapore. Singapore on Wednesday denied that a riot last month by some 400 South Asian migrant workers in the city-state was triggered by discontent over their wages and living conditions.In a letter reacting to a New York Times editorial in late December, its ambassador to the United States Ashok Mirpuri said “we will treat our migrant workers with respect, but will take firm action against those who break the law.”

“Migrant workers do contribute to our economy. They work legally and voluntarily. We strive to ensure that they are fairly treated and properly paid,” he said.

The letter was released by the Singapore information ministry, which said the newspaper declined to publish it.

The New York Times editorial board on December 27 suggested that the December 8 riot in a district known as Little India was caused by migrant workers’ frustration over low wages and poor living conditions.

Mirpuri said the New York Times offered “scant evidence” to support its assertions on why the workers went on a rampage after they saw an Indian construction worker struck and killed by a private bus in the area, where tens of thousands of them congregate on weekends.

The riot left 39 police officers and emergency responders injured.

A total of 25 vehicles — including 16 police cars — were also left damaged or burnt after the fracas, the first riot in strictly governed Singapore in more than 40 years.

More than 50 workers have been deported while at least 25 Indian nationals are facing rioting charges that could land them in jail.

“The government’s preliminary assessment is that they acted spontaneously, triggered by a fatal traffic accident. In any case, a committee of inquiry, headed by a retired judge, will establish definitively the factors that led to the riot,” the ambassador wrote.

Singapore is highly dependent on foreign labor. Out of its total population of 5.4 million, only 3.84 million are citizens and permanent residents.

Among the foreigners, about 700,000 are work-permit holders employed in construction and other sectors largely shunned by Singaporeans, with more than 200,000 others working as domestic helpers.

The New York Times editorial said “frustration among Singapore’s unappreciated and underpaid migrant workers has been building in recent years,” and boiled over during the riot.

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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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