Singapore's first hawker centre run by social enterprise closes

[specuvestor]

Temp san, infact you have far-sighted view, NTUC had lost it social obligation to serve S'porean despite given tax free incentive cos is a corporative entity. When LKY founded ntuc his main objective is to control the workers from strike that affecting the country economy, Over the decade ntuc grow to become super rich, now internally all struggle for power and authority.
Well, think after losing substantial vote and a GRC now they wake up liao...Look like they going to set up a ntuc or union ENTERPRISE to look into how to reduce the medical cost for S'poean....in thailand those poor peasant are given free medical treatment, whereas SG can die but cannot fall sick.

opmi san, you hit the jackpot, fully agreed
>Social Enterprises is a business, with 2 bottomlines, profit and social impact.
>NTUC Co-ops may have lost their ways by pursuing profit...

indeed ntuc nowadays are super greedy and profit orientated...sad sad sad...even funeral money they also desperate.

LKY learn from Hock Lee bus riot and know 水可载舟， 亦可翻舟. So unions have to be controlled

NTUC Co-Op mission is simple: to provide a baseline for prices so that competitive pressure will force competitors to have less price elasticity. Their model worked so well in groceries that they are expanding to other industries where they want to control the prices. I'm not sure if they are profit oriented now but as I pointed out in another thread, they are unlikely to be competitive beyond the shores of Singapore without the indirect govt subsidies. Otherwise, they have served their purpose here.

I think social enterprises should be focused on 1)green field where risk is high, from micro-financing to biopolis 2) National interests from Development banks to telecommunications which was what Temasek was doing.

Agree the BoD must be very clear about objectives. Producing profit to sustain the social objective is VERY DIFFERENT from focusing on profit with social objective as a means. NKF and Temasek are a good examples of organisations that don't remember why it existed.