Netizen Criticizes ST Article Praising Singapore’s Semiconductor Industry, Calls It “Cringe-Worthy”

In a widely shared Facebook post on Sunday (Oct 2), Mr. Foong Swee Fong expressed his disapproval of an article in The Straits Times that highlighted Singapore’s accomplishments in the semiconductor industry. He claimed that Singapore has “nothing to boast about” in this sector, as its success relies heavily on foreign multinational corporations (MNCs) rather than homegrown efforts.

“Taiwan, Korea, and Japan can rightfully be proud of their homegrown semiconductor giants, but Singapore, in this respect, has nothing to boast about as it is just riding on the coattails of foreign MNCs,” Mr. Foong wrote.

The post, which included a screenshot of the article, criticized what he referred to as “propaganda” that made him “cringe.” The article claimed that Singapore has “made its mark in the semiconductor supply chain as a global node,” accounting for 11% of the global semiconductor market and 5% of wafer capacity. Additionally, 20% of semiconductor equipment is manufactured in the country.

Mr. Foong questioned these claims, pointing out that much of the success highlighted in the article is due to the operations of foreign companies such as Applied Materials, Micron Technology, GlobalFoundries, and UMC. He argued that these firms are attracted to Singapore by government incentives, but the profits largely flow back to their home countries.

He also mentioned that while there are some local SMEs involved in the industry, they lack significant influence. Mr. Foong warned that if the foreign MNCs were to leave, “the whole ecosystem collapses.” He added that Singaporeans may not benefit as much from these developments as the government suggests, as increased demand from these companies pushes up the cost of living.

Reflecting on Singapore’s past, Mr. Foong called it a “shame” that the country sold its once-homegrown semiconductor firm, Chartered Semiconductor, to GlobalFoundries in 2010.

Many netizens who commented on Mr. Foong’s post agreed with his perspective and raised similar concerns.