In singapore, there is a cosy relationship between the government and the private sector. Given the power of state and the involvement of GLCs in the private sector, business people are keen to establish guanxi with ministers, senior civil servants and MPs, by giving donations for constituency activities, volunteering themselves for government and grassroot organisations, and inviting them to sit on the board of their companies etc.
A major developer for Sentosa Cove is Ho Bee Group, controlled by Chua Thian Poh. Chua is also CCC chairman of Bishan East (DPM Wong Kan Seng's constituency). As highlighted in the AG report 05/06, land plots for 24 bungalows were sold in 2004 to Ho Bee Group, at 'significantly below valuation' prices. Chua was also allowed to tender for land sales through Ho Bee, 33 days after he retired from Sentosa Cove's board in Oct 2003, which he was involved in deliberating on the land sales. Incidentially, Sentosa Cove was the first location that allowed foreigners to buy strata landed homes, which we know opened the floodgate for others.
And it seems that the loyalty of this power elite network is not towards Singapore but towards each other.. Look at the policies over the years that have resulted in the widening wealth and income gap, which this government has turned a blind eye to.
