Is minimum wage good or bad?

I think there is no clear cut answer here. Even economists can't agree.
Since there isn't a definitive right or wrong, the next best way to evaluate its merits is to see how universal the concept of minimum wage is.

Here goes:

197 countries have some sort of minimum wage.
Singapore is joined by distinguished nations like North Korea, Somalia, Tonga and Yemen under those without one.

PAP's Jospehine Teo's attempt at explaining her party's stand is at best lackadaisical.
It's true that minimum wages might put some firms out of business as labour costs are raised.
But the ruling party can offset this by a reduction of rentals, most of which goes to the coffers of government linked companies. Same goes for utlities.
At the very least, minimum wages will weed out unethical companies that have exploited labour for years.