Local watchdog: Competition Commission of Singapore (CCS).

powers to examine and end price-fixing and other actions.that suppress competition. It does its own intelligence by scouring reports and newspapers.

Source: http://app.ccs.gov.sg/cms/user_documents/main/pdf/FixingtheproblemofpricefixingST29Nov09.pdf

Though LHS has a higher pay, it does not mean he has more responsibilities. Every government's role is to keep its country on the right track and implement policies that help the country to remain competitive and not lag behind. Thus, money should not drive a minster to want to do his job better.

Although Barack Obama has a lesser pay, it does not include other benefits he enjoy like official transport and free accommodation in the White House. Hence, in my opinion i think the pay does not matter, as long as it is sufficient for the minister and his family to lead a smooth and content life and the question of money does not become a burden or an issue to them. Thus, as long as minister are themselves content with their pay, there shouldn't be a problem in them carrying out their responsibilities efficiently.

bureaucrats: officials who work fixed routine without exercising intelligent judgement.

In this context, the term is used negatively to described how petty and narrow-minded the Japan officials are, using money for limousines and dubious excursions.

"a ramrod political will inculcated by its first prime minister Lee Kuan Yew"

ramrod: to exert discipline and authority on.

inculcated: implanted.

In this context, Singapore has a strict disciplinarian, that has been instilled by our prime minister.