Government in Business – From Inside and Out Raymond Lim Executive Chairman, APS Asset Management Adjunct Professor, Nanyang Centre for Public Administration, Nanyang Technological University Menu ▪ ▪ ▪ ▪ ▪ ▪ State of Play Raison d’etat Report Card Cause & Effect Reforming SOEs Biggest Challenge 2 State of Play ▪ Thatcherite revolution ▪ Russian pause ▪ GFC rethink ▪ Alive and kicking 3 Raison d’etat ▪ Market failure ▪ Critical resources ▪ Public policy objectives ▪ New growth engines 4 Report Card ▪ The Good ▪ The Bad ▪ The Ugly 5 Cause & Effect ▪ Graft ▪ Incompetence ▪ System failure 6 Reforming SOEs ▪ No magic bullet ▪ Divestiture ▪ Competition ▪ Hard budgets ▪ Commitment ▪ Holistic approach 7 Biggest Challenge ▪ Walk the talk ▪ Politics of reforms ▪ One size does not fit all 8 References ▪ ▪ ▪ ▪ ▪ Lim, Raymond, 2014, Straight Talk – Reflections on Singapore politics, economy and society, Straits Times Press Economic Review Committee, 2003, Report of the Entrepreneurship and Internationalisation Sub-Committee, Government of Singapore Musacchio, Aldo and Lazzarini, Sergio, 2014, Reinventing State Capitalism, Harvard University Press World Bank, 2013, China 2030, World Bank World Bank, 1995, Bureaucrats in Business, World Bank 9 Biography Mr. Raymond Lim is the Executive Chairman of APS Asset Management and Senior Advisor to John Swire & Sons, a Greater China conglomerate. He also serves on the boards of several listed companies including Raffles Medical Group and Swire Properties. Mr. Lim is an Adjunct Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore and Nanyang Centre for Public Administration, Nanyang Technological University. A former Cabinet Minister in the Singapore Government, Mr. Lim held various ministerial appointments including Foreign Affairs, Finance, Trade & Industry, Entrepreneurship and Transport from December 2001 to May 2011. He was a member of the Board of Governors of the International Monetary Fund and World Bank in 2005. From 2004 to 2009, he was the cochairman of the Singapore-Zhejiang (China) Economic and Trade Council. Mr. Lim was also cochairman of the Malaysia-Singapore Joint Ministerial Committee on Iskandar Malaysia (20072011) and a board member of GIC Pte Ltd from 2005 to 2017. Prior to that, Mr. Lim held various senior positions in the financial industry including Chief Executive Officer of DBS Vickers Securities, Managing Director of Temasek Holdings, Research Director of Kim Eng Securities and Chief Economist of ABN AMRO Asia Securities, where he was ranked as one of the best economists in the region in international fund managers’ surveys. A Colombo Plan scholar, Mr. Lim has a First Class Honours degree in economics from the University of Adelaide, Australia. Subsequently awarded the Rhodes scholarship for Singapore, Mr. Lim graduated with First Class honours in the Master of Law at King’s College, Cambridge and a Bachelor of Arts in Jurisprudence at Balliol College, Oxford. He is the author of “Straight Talk - Reflections on Singapore politics, economy and society.” 10
