Something's not right here!

[leetahbar]

selling a vital infrastructure to foreigner and using our own bank to fund them. what's the matter with our gabramen?

Temasek sells PowerSeraya to YTL Power for S$3.8b
By Rachel Kelly, Channel NewsAsia | Posted: 02 December 2008 2117 hrs

SINGAPORE: Temasek Holdings has sold the Singapore generation company PowerSeraya to Malaysia's YTL Power for S$3.8 billion.

PowerSeraya is the third and last genco that Temasek had put up for sale. It had earlier sold Senoko Power and Tuas Power.

The timing of the transaction was a surprise.

Just a week ago, Temasek had said that it was suspending the tender process for PowerSeraya due to poor market conditions.

In a statement, Temasek said it had found YTL Power's proposal to be attractive.

Temasek said with the sale of PowerSeraya, it would have fulfilled its commitment to help develop a competitive power generation market in Singapore.

YTL will pay S$3.6 billion for the purchase and take on a debt of $201 million.

The transaction is expected to be completed in early 2009.

PowerSeraya is the second largest power generation company in Singapore by installed capacity.

It can produce 3,100 megawatts of electricity or about a quarter of Singapore's total licensed generation capacity.

PowerSeraya also operates oil trading and multi-utility businesses.

YTL Power Managing Director Francis Yeoh said the acquisition of PowerSeraya will help grow YTL's utility business in the region.

The deal is subject to approval from YTL shareholders.

DBS Bank is providing some S$2.25 billion in credit facilities to YTL.

 

[leetahbar]

we were trying to be out of their mercy in the water supply drama and now are we going to be held mercy again for our power supply?

 

[leetahbar]

Temasek had earlier sold its two other power generation companies, Senoko Power Ltd and Tuas Power Ltd under its divestment plan announced in July last year.

A Marubeni Corp-led group agreed in September to pay S$1.1 million per megawatt of capacity for Senoko Power, and China Huaneng Group said in March it would pay S$1.58 million per megawatt for Tuas Power.

Seraya, which generates power from oil and gas, has an installed capacity of 3,240 megawatts, or 30 per cent of the island's capacity.

The pool of funds for mergers and acquisitions has shrunk after the collapse of the US subprime mortgage market. Merger and acquisition transactions in Asia's power industry totalled $16 billion so far this year, a fifth of 2007, according to data compiled by Bloomberg News.

PowerSeraya posted a profit of S$218 million on revenue of S$2.79 billion in the financial year ended March. The Seraya Power Station consists of two blocks of natural gas-fired combined cycle plants and nine units of steam plants. -- THOMSON REUTERS, BERNAMA

something definitely not very right here!! selling away profitable and vital national infrastructure and invested in LOSS MAKING troubled foreign equities. strange strategy.

 

[leetahbar]

why give away the goose that lays the golden eggs? is tamasick that desperate for money? maybe in short term, they could collect humongous cash to patch up the deep loophole in their financially messed up investment but in the long, the peesailand peasants gonna suffer. matland would increase PUB rates like nobody's business and peasants then couldn't hold the gabramen responsible.

tamasick = gov...and is this gov thinking about future costs that are going to be borne by peasants?

to me, this looks like a betrayal of the country's vital asset.:oIo:

 

[Conan the Barbarian]

Haha, now Singaporeans cannot blame the delivery man
for high electrical bills.

 

[leetahbar]

and the gabramen can easily shirk their responsiblity to subsidise peasants further. what a marvellous ploy!!

can anyone understand why using local DBS to finance a foreigner'r purchase on local asset? dbs stands to make some loan interests but then, this entire logic is incredibly warped!!:oIo:

 

[leetahbar]

as usual, u guys just suck!

this is a serious thread involving the entire nation. what a shame that you call yourself human rights whatever shits.:oIo:

 

[samurai1110]

Whiners are like that. Most time whine, whine, whine but when real matter crops up they have lock-jaw.

 

[samurai1110]

It will be nice & civil if we can avoid such expletives in our posts.

 

[myfoot123]

selling a vital infrastructure to foreigner and using our own bank to fund them. what's the matter with our gabramen?

Temasek sells PowerSeraya to YTL Power for S$3.8b
YTL.[/B][/COLOR]

Sound like a forceful sales. Temasek is in the red and in dire need for hard cash to meet Singaporean CPF obligations. May be we still fall short, what will they be selling next? PUB, Singtel, SIA, PSA......? I hope they sell Isetana whichi worth a lot of money. I mean the land there not the people dwelling in it.

 

[leetahbar]

Sound like a forceful sales. Temasek is in the red and in dire need for hard cash to meet Singaporean CPF obligations. May be we still fall short, what will they be selling next? PUB, Singtel, SIA, PSA......? I hope they sell Isetana whichi worth a lot of money. I mean the land there not the people dwelling in it.

and throw in prataman as the free gift! LOL!

 

[leetahbar]

It will be nice & civil if we can avoid such expletives in our posts.

don't worry. they only target those who they think is my li'l brother leetahsar. they just couldn't get over him. you should know who they are and witness their kind of childish outburst. that's what losers are best at by the way.

 

[leetahbar]

changing nics as fast as changing red T-shirt. my goodness! really admirable!

 

[leetahbar]

By ALEX KENNEDY,Associated Press Writer AP - Wednesday, December 3SINGAPORE - Singapore's state-owned investment company Temasek Holdings said it sold electricity generator PowerSeraya to Malaysia's YTL Power International for 3.8 billion Singapore dollars ($2.5 billion).

Sabre Energy, a unit of YTL Power International, will pay SG$3.6 billion ($2.4 billion) and assume SG$201 million ($131 million) of PowerSeraya's debt by early 2009, Temasek said in a statement late Tuesday.

Temasek Holdings Pte Ltd. announced last week it canceled the sale of PowerSeraya Ltd. because of poor market conditions.

"After we stopped the tender process last week, YTL Power International put forward an unsolicited proposal which met our requirements," Temasek investment director Gwendel Tung said.

PowerSeraya, which has a capacity of 3,100 megawatts and provides about 28 percent of the city-state's electricity, was the third power plant sold by the government investment company this year.

Temasek sold Senoko Power in September to a consortium led by Japanese brokerage Marubeni Corp for SG$3.65 billion ($2.4 billion) and in March sold Tuas Power Ltd. to power producer China Huaneng Group for SG$4.24 billion ($2.8 billion).

The three companies generate about 90 percent of Singapore's power.

Temasek said in August that its profit doubled to a record SG$18.2 billion ($11.9 billion) for the year ending March 31, 2008. The investment company's portfolio grew to SG$185 billion ($121 billion).

 

[southwest]

Ho Ching has been drinking

 

[leetahbar]

one broker used to tell his clients:

YOU RID THE LOSS MAKING COUNTERS AND KEEP THE WINNER COUNTERS

in tamasick, it's like U CHEAP SALE THE WINNER COUNTERS AND KEEP ALL THE EXPENSIVE LOSS MAKING ONES!

strange strategy!! our lifesaving still around or not?

 

[guavatree]

old faggot moron no one can beat you for having most nics!you've got few dozs!

the pondan attention seeking whore uses more than a doz nics in victor sun kopitiam .... LOL

 

[leetahbar]

LOL! is that what your guilt-conscience is spiking you?

 

[guavatree]

LOL! is that what your guilt-conscience is spiking you?:

bapok HYPOCRITE fake monk PAP dog

keep on complaining abt clones

you have few doz nics/clones yourself

fucking hypocrite!