I got this comment from yahoo site
http://sg.news.yahoo.com/blogs/singaporescene/sdp-hits-back-pap-criticisms-141142593.html
During my recent market research, I've discovered, to my greatest horrors, the following
1) In 1995, Our PAP Government has decided to private our 3-state-owned power generation companies i.e. Power Seraya, Senoko Power and Tuas Power to Temasek Holdings.
2) On 14 March 2008, Temasek Holdings announced they sold Tuas Power to China Huaneng Group (a Beijing based company) for S$4.2 billion. Tuas Power was providing over 25% of our national electricity needs at of 2007.
3) On 5 September 2008, Temasek Holdings announced they sold Senoko Power to Lion Power Consortium ( a Japanese company) for S$4.0billion. Senoko Power was providing over 30% of our national electricity needs then.
4) On 2 December 2008, Temasek Holdings then announced they sold Power Seraya to YTL Power International Bhd (a malaysia company) for S$3.8billion. Power Seraya was providing over 27% of our national electricity needs then.
Temasek Holdings is the investment arm of our Ministry of Finance, how would they have sold these important national critical assets to foreign-owned companies???
In 2007, these 3 power generation companies have supplied almost 100% of the electricity to meet the national residential and commercial needs. As such, Temasek Holdings 'business' decision to sell them away for S$12billion is a very big risks and did not take into accounts of our National Interests and Stability!!!
Similarly the consultancy arm of then Public Works Division, PWD Consultant, was corporatised in April 1999 and put under Temasek Holdings.
In May 2000, PWD Consultant merged with Indeco Consultant (consultancy arm of International Development & Consultancy Corp which was responsible for many government projects e.g. NTU, NUS, etc) and was renamed as CPG Consultant.
Temasek Holdings then sold them to Downer EDI (an Australian company) on 24 March 2003 for S$131million.
To date, CPG Consultants are still monopolising consultancy works for Ministry of Health (Hospitals), Ministry of Home Affairs (SCPF, SPF, etc), Ministry of Educations (Schools, ITE, etc).
Did they consider the selloff based on only financial gains? How about our national interests? For only $131millions, worth the risk?
To name one more example, Indeco Engineers (the engineering arm of International Development & Consultancy Group which was provide Facilities Management to Changi Airport Terminal 1 since 1983) was sold to Tyco Group for S$60.1million.
When selling such important companies, did careful considerations with regards to ou national interests, security and stability of our Nation and its implication to the livelihood of our citizens?
We can't afford another "honest mistake" or any of our PAP excuses and the best assurance is to vote more Opposition MPs into Parliament for Check and Balance.
Especially so, when our PAP Government has proven to be so arrogant and refuse to listen to our people's voices.
Consider carefully for our future and vote wisely!!
http://sg.news.yahoo.com/blogs/singaporescene/sdp-hits-back-pap-criticisms-141142593.html
During my recent market research, I've discovered, to my greatest horrors, the following
1) In 1995, Our PAP Government has decided to private our 3-state-owned power generation companies i.e. Power Seraya, Senoko Power and Tuas Power to Temasek Holdings.
2) On 14 March 2008, Temasek Holdings announced they sold Tuas Power to China Huaneng Group (a Beijing based company) for S$4.2 billion. Tuas Power was providing over 25% of our national electricity needs at of 2007.
3) On 5 September 2008, Temasek Holdings announced they sold Senoko Power to Lion Power Consortium ( a Japanese company) for S$4.0billion. Senoko Power was providing over 30% of our national electricity needs then.
4) On 2 December 2008, Temasek Holdings then announced they sold Power Seraya to YTL Power International Bhd (a malaysia company) for S$3.8billion. Power Seraya was providing over 27% of our national electricity needs then.
Temasek Holdings is the investment arm of our Ministry of Finance, how would they have sold these important national critical assets to foreign-owned companies???
In 2007, these 3 power generation companies have supplied almost 100% of the electricity to meet the national residential and commercial needs. As such, Temasek Holdings 'business' decision to sell them away for S$12billion is a very big risks and did not take into accounts of our National Interests and Stability!!!
Similarly the consultancy arm of then Public Works Division, PWD Consultant, was corporatised in April 1999 and put under Temasek Holdings.
In May 2000, PWD Consultant merged with Indeco Consultant (consultancy arm of International Development & Consultancy Corp which was responsible for many government projects e.g. NTU, NUS, etc) and was renamed as CPG Consultant.
Temasek Holdings then sold them to Downer EDI (an Australian company) on 24 March 2003 for S$131million.
To date, CPG Consultants are still monopolising consultancy works for Ministry of Health (Hospitals), Ministry of Home Affairs (SCPF, SPF, etc), Ministry of Educations (Schools, ITE, etc).
Did they consider the selloff based on only financial gains? How about our national interests? For only $131millions, worth the risk?
To name one more example, Indeco Engineers (the engineering arm of International Development & Consultancy Group which was provide Facilities Management to Changi Airport Terminal 1 since 1983) was sold to Tyco Group for S$60.1million.
When selling such important companies, did careful considerations with regards to ou national interests, security and stability of our Nation and its implication to the livelihood of our citizens?
We can't afford another "honest mistake" or any of our PAP excuses and the best assurance is to vote more Opposition MPs into Parliament for Check and Balance.
Especially so, when our PAP Government has proven to be so arrogant and refuse to listen to our people's voices.
Consider carefully for our future and vote wisely!!
