Not afraid to take the harder choices in life
Mr Victor Lye. Photo: Ernest Chua
SINGAPORE — When Mr Victor Lye was told to retrench his staff during the Asian financial crisis in 1999, he refused, even though he himself was given the chance to retain his job.
“I told my boss, ‘No I’m not doing that. I’d built the company, I recruited the staff, if you want me to let them go, I will go with them’ … I have always taken the harder choices in life,” said the 52-year-old chief executive of Shenton Insurance yesterday at a press conference to introduce the PAP’s candidates for Aljunied GRC.
Having experienced the financial crisis first-hand, Mr Lye decided to do volunteer work in Aljunied GRC, helping then-minister George Yeo in assisting Singaporeans affected by the crisis.
Mr Lye said he had had a tough childhood, where he and his four siblings had to shuttle between the flats of his various relatives. While serving National Service, he even had to ask for guard duty so he could have a bed for the night.
After completing his studies, he joined the Ministry of Trade and Industry as an Administrative Service officer, before moving to the private sector, where he held leadership positions in the financial services industry, overseeing business units in Hong Kong, South-east Asian countries, New York and London.
Having founded, repositioned and turned around various businesses throughout his career, Mr Lye said issues such as the widening the income gap in Singapore are close to his heart. “I feel a lot of pain in my heart when I go door to door and see (disadvantaged families) ... It doesn’t take a lot of effort for you to ... understand what they’re going through,” he said.
Mr Lye is also concerned about the rapidly ageing population, adding that he often sees elderly residents in Hougang and Bedok. “I see them sitting around trying to find something meaningful to do … We need to do something for the elderly.”
When asked what he would do if elected as a Member of Parliament, Mr Lye said he believes he has the expertise to better handle the Aljunied town council’s finances, having had professional experience in turning around companies.
Victor Lye, 52
Chief executive of Shenton Insurance
FACT FILE:
• Chairman of the PAP’s Bedok Reservoir-Punggol branch
• Has been involved in grassroots work in the constituency since 1999
• Married, with two children
HE SAID: “Despite not being returned in GE2011, we have stayed on and visited every HDB block, helping residents wherever we can ... Please support our cause and bring us home to Aljunied.”
WARD: Aljunied GRC
