Government used to say core services such as communications, utilities and airbases must be owned by the state! I presume sometimes have to compromise their belief when faced with liquidity problems or operating to their whims and fancies.
Singapore Changi airport taken over by Temasek because the need for more control and falling profits caused by retarded staff that corrupted Changi Airport amid falling tourist count.
Where they get their money, you can only question their practice.
Low pay and low morale needs millitary style administration