Lawrence Pek, the Progress Singapore Party (PSP) candidate for Chua Chu Kang Group Representation Constituency (GRC) in the General Election 2025, delivered a rousing speech at Bukit Gombak Stadium on 26 April 2025.
Pek, the former secretary-general of the Singapore Manufacturing Federation with more than two decades of experience in the technology sector across Dubai, China, and India, called for immediate and comprehensive measures to support Singapore’s small and medium-sized enterprises (SMEs).
According to Pek, SMEs form the backbone of Singapore’s economy, comprising 90% of all registered companies. They contribute over 70% of total employment, accounting for around 2.3 million jobs, and approximately 43% of Singapore’s nominal Gross Domestic Product (GDP).
He stressed that when SMEs thrive, they create jobs, drive innovation, and bolster economic resilience. “When SMEs are strong, Singapore is strong,” Pek declared.
Pek pointed out that the current economic climate posed significant challenges for SMEs. Labour costs, rental inflation, and global competition have squeezed SME profit margins, while many continue to recover from the COVID-19 pandemic with limited financial buffers.
Highlighting recent figures, Pek noted that over 3,000 food and beverage outlets closed in 2024, the highest number recorded in two decades. He warned that further SME closures could trigger unemployment, supply chain disruptions, and a loss of economic dynamism.
Among his proposals, Pek called for a national review of commercial rental practices to create transparency around rental benchmarks. He advocated for longer lease terms with fair rent escalation clauses to help SMEs plan sustainably.
He also proposed converting underutilised state properties into low-rent innovation clusters, particularly in the heartlands and city fringe areas. Furthermore, Pek supported the promotion of co-sharing spaces and business hubs to ease operational costs for small businesses.
Turning to the political landscape, Pek argued that the imbalance in Parliament remained stark. Despite opposition parties garnering more than one million votes in the previous general election, they secured only 12 seats.
He criticised the ruling party’s new candidates, suggesting many hailed from similar civil service and Singapore Armed Forces backgrounds. “They think the same, they speak the same, they go for the same events,” he said, questioning the likelihood of change without greater opposition strength.
Addressing voters directly, Pek asserted, “It’s not about more vouchers! It’s about the safety and dignity of a job!” He pressed for the establishment of a minimum wage to shield workers from exploitative practices and to mitigate the effects of high inflation and cost of living.
Pek also challenged the focus of government-linked unions, arguing that labour advocacy must move beyond productivity gains. He pointed out that industries have already been transformed by technologies such as cleaning robots, high-tech surveillance, and online food ordering systems.
Quoting Prime Minister Lawrence Wong’s remark to “slay sacred cows if necessary,” Pek emphasised that ensuring job security and instituting fair wage protections must be part of any meaningful change.
He concluded by rallying support for the PSP, calling for “more Mun Wais and more Hazels”—a reference to fellow opposition figures Leong Mun Wai and Hazel Poa—to ensure diverse and robust parliamentary debate.
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