|Tears of joy for life-line from Temasek|
Lee Kuan Yew had always maintained that his multi-millionaire dollar cabinet ministers would have no problems securing similar remuneration in the private sector. The way he tells it, the queue for his MIW will be longer than those waiting for Hello Kitty dolls at MacDonalds. Appointed minister in charge of ageing issues in 2007, Lim must have discovered that jobs are hard to come by for senior citizens past their prime. Driving a cab is no longer an attractive option, given the dangers of being rammed by a PRC speed demon, or punched up by a Korean tourist.
So where are the ex-cabinet ministers now, are they still rolling in the dough?
Former Foreign Minister George Yeo, 58, officially joined the Kuok Group as vice-chairman of its Hong Kong holding company, Kerry Group, in January 2012. Earlier in October 2011, Yeo had taken up a senior adviser role, what he dismissed as an "informal arrangement"' in the Kuok Group, a Malaysian conglomerate run by "sugar king" Robert Kuok, adding, "I'll join private sector next year. Not decided yet what or where".
Former Minister for National Development Mah Bow Tan, 64, was appointed Non-Executive Chairman of Yellow Pages, the publisher of directories and provider of classified directory advertising in September 2011, taking over from Stanley Tan who was promoted to Chief Executive Officer and Executive Director. Stanley used to be the Executive Chairman.
Former Transport Minister Raymond Lim, 53, was appointed senior adviser at John Swire & Sons (S.E. Asia) Pte. Ltd. in November 2011 , the newly-founded South East Asian operation of the Swire group.
Former Home Affairs Minister and Deputy Prime Minister Wong Kan Seng, 66, was appointed chairman of Singbridge International Singapore Private Limited in September 2011. Singbridge is a company wholly owned by Temasek Holdings which invests in and manages integrated projects in cities such as Guangzhou, Tianjin, Suzhou and Bangalore.