Government-funded university Nanyang Technological University (NTU) awarded Minister Teo Ser Luck the Nanyang Distinguished Alumni Award, its highest honour this year. Interestingly, Minister Chan Chun Sing was seen presenting the award to Minister Teo Ser Luck. According to NTU, the Minister of State for Manpower was recognised for his role in helping small and medium enterprises (SMEs) innovate and go global.
However, the award is largely controversial as not a single SME company was mentioned that Minister Teo Ser Luck helped has “innovated and gone global”. Minister Teo Ser Luck was an accountancy graduate from NTU and has been lobbying for businesses in Singapore policies including the proposing of Wage Credit Scheme (a scheme that subsidise companies’ manpower cost) and Productivity and Innovation Credit (a scheme that subsidise companies’ overhead spending).