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Why Temasick is selling all the power stations?

Man in the streets

Alfrescian
Loyal
With Senoko power sold to the japanese, only seraya power is left.

Seraya power will be gone by next year.

In Thailand, Thugsin sold telecom to sinkapore, the thais protest.

In sinkapore, Temasick sells country's assets, KNN, Fucking 66% sinkaporlans Lan Lan.
 

Lentor

Alfrescian
Loyal
next time got blackout, you all cannot kpkb them already.
the japs will have to pay big fines for the blackout instead.
 
Q

Qinhuang

Guest
[I]Utility bills will continue to hike, PAP will lose votes if peasants cannot afford to pay.

PAP knows that this is a threat to its power. So in order to avert voters go against PAP becos of high electricity bills, PAP has to jettison these power stations and push the buck to new owners.

Staying in power at all costs to avoid what are happening to Taiwan , Thailand, is the first priority now damning the consequences.

Singaporeans unlike the Thais, they are not co-operative, every man is for himself and PAP can laugh over it. If singaporeans are united against PAP, it collapses, so it is better for singaporeans to fight among themselves.

You see why old lee(you call old fart) wants a cosmopolitan? So strength in number don't apply no more.
I hope the answer looks well to you.
With Senoko power sold to the japanese, only seraya power is left.

Seraya power will be gone by next year.

In Thailand, Thugsin sold telecom to sinkapore, the thais protest.

In sinkapore, Temasick sells country's assets, KNN, Fucking 66% sinkaporlans Lan Lan.
[/QUOTE[/I]]
 

BlueCat

Alfrescian
Loyal
very funny,when the government controlled all the things,we complain monopoly,no competitiveness and openness. now government sell away assets to private companies,we also complain.
this is human,always will find something to find fault and complain...hehe :biggrin:
 
Q

Qinhuang

Guest
I think if temasick sells to local firms, the situation may be different.

unfortunately, after years of monoply, there is no local company rich enough to buy the stake.

Foreigners bidding for singapore power proves local businessmen or local bankers are not that rich.

What you say is true, the complaint will continue unless or may be if the power stations are sold to the local firms, things may change

serious problem will arise when these foreign owners start losing money. somehow, temasick is also taking a big risk.







very funny,when the government controlled all the things,we complain monopoly,no competitiveness and openness. now government sell away assets to private companies,we also complain.
this is human,always will find something to find fault and complain...hehe :biggrin:
 

i1u12

Alfrescian
Loyal
very funny,when the government controlled all the things,we complain monopoly,no competitiveness and openness. now government sell away assets to private companies,we also complain.
this is human,always will find something to find fault and complain...hehe :biggrin:

u mean u don't find it odd at all! The govt is financially strong as declared. Why should they sell utility services to foreigners?
 

myfoot123

Alfrescian (Inf)
Asset
Singaporean CPF emptied to bail US bank. Lees family now very worried so sell power house to recoup the monies - not for my Singaporean - but to help Lees families run road when they lost erection in 2010.
 

Merl Haggard

Alfrescian (Inf)
Asset
Singaporean CPF emptied to bail US bank. Lees family now very worried so sell power house to recoup the monies - not for my Singaporean - but to help Lees families run road when they lost erection in 2010.

http://www.cnbc.com/id/15840232?video=844044063&__source=CNBC|MW|video1|

According to billionaire Bill Gross, CIO of PIMCO, who manages US largest hedge-funds, our world's 8th most powerful woman & GIC's investments in the three Wall St banks are badly underwater, and that's why they have sell our nation's jewels.
 
Last edited:

DerekLeung

Alfrescian
Loyal
[I]Utility bills will continue to hike, PAP will lose votes if peasants cannot afford to pay.

PAP knows that this is a threat to its power. So in order to avert voters go against PAP becos of high electricity bills, PAP has to jettison these power stations and push the buck to new owners.

Staying in power at all costs to avoid what are happening to Taiwan , Thailand, is the first priority now damning the consequences.

Singaporeans unlike the Thais, they are not co-operative, every man is for himself and PAP can laugh over it. If singaporeans are united against PAP, it collapses, so it is better for singaporeans to fight among themselves.

You see why old lee(you call old fart) wants a cosmopolitan? So strength in number don't apply no more.
I hope the answer looks well to you.
With Senoko power sold to the japanese, only seraya power is left.

Seraya power will be gone by next year.

In Thailand, Thugsin sold telecom to sinkapore, the thais protest.

In sinkapore, Temasick sells country's assets, KNN, Fucking 66% sinkaporlans Lan Lan.
[/QUOTE[/I]]


Just like all the employers hiring a mix of chinese, begalas, vietnamese, thai, indoesians, burmese, nepalese and ....
 

makapaaa

Alfrescian (Inf)
Asset
http://www.asiasentinel.com/index.php?option=com_content&task=view&id=1387&Itemid=32

Singapore’s Temasek Courts Disaster

Our Correspondent
18 August 2008
The bull market tide goes out, leaving the lion city’s sovereign wealth firm gasping on the shore


Nearly five months after its March 31 year-end, Singaporeans should be eagerly looking forward to the publication of the report of the guardian of so much of the national wealth, Temasek Holdings. The sovereign wealth fund run by Ho Ching, wife of Prime Minister Lee Hsien Loong, is not the biggest repository of money collected by the state on behalf of the people, but it is at least semi-transparent compared with its big brother the Government Investment Corp.
The lengthy wait for results could possibly be connected to issues of how to treat a series of rather spectacular disasters that Temasek faced last year, and that are continuing into the current year.
Even in 2006-07, when world markets were booming in unison, Temasek had to report a 29 percent profit fall. Neither chairman S. Dhanabalan nor Ho Ching were on hand at the press conference when these dismal results were delivered. So who will deliver any bad news for the latest year?


Of course, the bottom line for the year to March 2008 may be saved by the sale just before year-end of power station Tuas Power to China’s Huaneng Group for S$4.2 billion which should enable it to book a hefty capital profit. But selling local assets and buying foreign ones may not be such a smart idea, particularly if you are the kind of Singapore bureaucrat who has implicit faith in the masters of the universe on Wall Street.
Under Ho Ching’s leadership Temasek had supposedly been taken from being a safety-first bureaucracy to a smart, profit-oriented outfit, selling some assets and investing heavily overseas, particularly in the fast-growing emerging markets of Asia and Latin America. Almost fool can make money in a global bull market so for awhile Temasek seemed to prosper under Ho Ching’s dynamic leadership. But Temasek also swallowed plenty of bait on offer from Wall Street types.


In particular the government-owned investment vehicle vastly expanded its finance sector portfolio, buying banks and even setting up a Special Purpose Vehicle, Astrea, which borrowed US$810 million to invest in a slew of private equity and buyout funds.
It is hard to imagine that Astrea has avoided the hammering suffered by almost all buyout and private equity funds, some of which have had to close with large losses.
But Temasek seems to have compounded bull market errors by continuing to have faith in Wall Street deceptions when memory of the Asian crisis and the Japanese experience should have made it particularly aware that financial-sector problems almost always go deeper and last longer than those in other sectors. Temasek was keen to show how important it was so was among the first to jump in with equity bail-outs for distressed western banks, firstly with US$5 billion for Merrill Lynch at $48 a share.


The Merill shares are now worth about half that, and although under the terms of the deal Temasek has been partially compensated with additional shares it has had to also to put in new money – and must wonder just how long and deep the US financial crisis will be. Although it had recently increased its stake in the UK’s Standard Chartered, it also put ₤1 billion into Britain’s Barclays, a financial institution whose equity base remains perilously small compared with the weight of assorted instruments it carries and whose share price has fallen much further since the Temasek injection.
But it is not just the finance sector and in the west that gung-Ho Temasek has hit rough waters. The Shin Corp mess in Thailand may now be a thing of the past. But troubles elsewhere are many. In Indonesia it is being required to sell off its stake in Bank International Indonesia (BII) because it already owns Bank Danamon. But Malaysia’s Bank Negara (central bank) has vetoed an attempt by Maybank to buy the BII stake. Bank Negara evidently agreed with opinion in the market that Maybank was offering a silly price.
The best piece of luck Temasek has had was actually evidence of its own willingness to pay top dollar. Only the myopic greed of shareholders in China Eastern Airlines and hopes of a counter offer from China National Aviation Corp thwarted a generous joint offer by Temasek and Singapore Airlines for a 24 percent stake in the Hong Kong-listed company at HK$3.8 a share. They now trade at HK$1.80.
Real estate is not looking too hot either. Last month CapitalLand (part of the Temasek group) had to promise to inject A$300 million into its ailing listed Australian 54 percent owned subsidiary Australand Property. Without a huge capital injection, deeply indebted Australand might have gone under.
Temasek has also leaped heavily into one of China’s highest profile, and perhaps more vulnerable, property developers, Country Garden. When it went public in Hong Kong in April 2007, Country Garden was the second largest IPO in Hong Kong history, with Temasek joining local tycoons Lee Shau Kee and Robert Kuok as key investors. According to the mainland financial magazine Caijing, a subsequent S$800 million convertible bond issue in Singapore in February this year was made on terms which suggest the company is very stretched and badly needs to keep its share price from falling. It is now little more than half its initial price and down 75 percent from its peak.
Australia, once seen as a safe if unexciting location for Singapore cash, has also attracted top of the market deals from Singapore Power. Already well-established in Australia, it paid heavily in cash for the eastern Australia assets of pipeline company Alinta but with values in decline they have been unable now to flip them into their 51 percent owned local subsidiary SP Ausnet leaving SP meanwhile saddled with huge borrowings.
Even on home ground, things are looking sick for important parts of the Temasek empire. Chartered Semiconductor Industries has seen its shares fall more than 40 percent and its debt ratings have been cut so that its bond are no longer investment grade – otherwise known as junk status. Chartered has long been a state effort to make Singapore a semiconductor manufacturing leader but has never managed to keep up with the likes of Taiwan and Korea in technology and now also faces Chinese competition.
These various problems have not entirely dulled Temasek’s appetite for acquisitions. Its associate Neptune Orient Lines (NOL) is bidding to buy Germany’s Hapag-Lloyd just at a time when some commentators forecast huge problems looming for container lines. This time Temasek may be saved by German nationalism – Hamburg business is ganging up to keep it in local hands.
It remains to be seen who, if anyone, takes responsibility for Temasek’s blunders. Last year it was chief investment officer Jimmy Phoon who found he had better things to do, as did Jackson Tai at DBS, Temasek’s main banking investment, and the finance director of SembCorp who had landed the group with US$300 million in foreign exchange losses.


Meanwhile US former food and consumer products executive Simon Israel, appointed two years ago, remains CEO in conjunction with Ho Ching. And, despite everything, faith in Wall Street types is as strong as ever – Michael Dee from Morgan Stanley was last week been appointed managing director for international investments.
 

STUCK_HERE

Alfrescian
Loyal
Is it GREED? I remember learning in school that some industries like water, power, defence is protected industry. Must be run by the govt.

Anyway, what do i know, I am just a peasant. I go back to my hole now.
 

Erudio

Alfrescian
Loyal
With Senoko power sold to the japanese, only seraya power is left.

only sure thing is tis ... the liberalized power mkt will soon 'SUDDENLY revert' to GLOBAL MKT RATE fer electric ... but of course, gov tax Gencos, Gencos up rate suck fr peasants ... peasants KPKB, gov play "SAVIOR" n give bit of $$ offset hike ... win win fer PAP n Gencos, lose lose fer peasants ...
 

Cestbon

Alfrescian (Inf)
Asset
Many natural gas that need to generate electricity will be end in 3 years. To renew contract Indonesia and Malaysia will demand higher price. So for next few years even if the fuel/petrol price reduce the electricity rate will be maintain or increase due to gas price increase.
 
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