A Facebook post from Mr Foong Swee Fong wherein he writes that Singapore has “nothing to boast about” in terms of“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,” he wrote.
Mr Foong went on to question the premise of the ST piece, writing that “that the whole boast is based” on foreign multinational companies such as American firms Applied Materials and Micron Technology, GlobalFoundries from Abu Dhabi, and UMC from Taiwan. However, he underlined that the bulk of the money earned goes back to the countries of origin of these multinational companies and not to Singapore.
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