THE Government should allow Singaporeans to work in the companies its sovereign wealth funds like Temasek and Government Investment Corporation have a substantial stake in, a Member of Parliament advocated on Wednesday.

MP for Tampines GRC, Sin Boon Ann said Singapore should 'make better use of these investments to work harder for us' and not merely remain as a 'passive investor' as in most cases.

Acquire more land overseas MR Sin Boon Ann said Singapore could attempt exploiting opportunities for land ownership to solve its 'relative insecurity' over food supply. Singapore, he suggested, could provide funding and create opportunities for local small and medium enterprises (SMEs) to own and operate farms overseas on a big scale and then use these farms to channel their produce specifically to the Singapore market ... more RELATED LINKS  SPEECH BY SIM BOON ANN

Instead, Singapore could have used its significant share advantage to provide training and exposure opportunities for Singaporeans, Mr Sin told Parliament during a debate of President S R Nathan's address which was delivered last Monday.

The government, he said, generally does not ask for board representation and would be happy to keep its substantial shareholder status, while leaving the company it has a stake in to the care of the managers.

'This is a pity, really,' Mr Sin lamented.

'We are talking here about exposure to corporate planning and decision making at a higher level and in a completely different cultural environment. Few Singaporeans make it to this realm of seniority; and those who make it are often celebrated as local heroes.

'Allowing more Singaporeans to participate at such senior levels, not necessarily as employees but even as interns, would give more Singaporeans the occasion to build up their confidence and their capabilities and in the longer term, bring our managerial skills sets to international blue chip standards.'

Mr Sin added that while most Singaporeans are well educated and bright, their vision of the world is often constrained in the same manner 'as the proverbial frog that sees the world from the depth of the well'.

'Given the right opportunity and environment, I am sure we will find more Singaporeans taking their companies from being third rate to first,' Mr Sin said.

He also suggested that the SWFs' significant stake in foreign companies be used to provide opportunities for small and medium enterprises (SMEs) to work with these firms.

'If our government can trail blaze, a path maybe opened up for them to confidently take their plunge by going into new areas with foreign partners who can now guide and work with them.'

He added: 'There is therefore, a recognisable need for our government when investing its sovereign wealth fund to consider a broader canvass beyond returns on investment, and look at how it can further enhance its strategic value by using it to benefit the Singaporeans managers and enterprises.'