Why is Temasek snubbed again and again?

[germ_boi]

Actually, I always wonder why Temasek must invest overseas and buy companies overseas? Should not they invest in Singapore and create more jobs here?

maybe im too young to understand such stuff.

but isnt Temasek already doing a lot in Singapore, do anymore and perhaps the public backlash in Singapore stating Temasek is trying to monopolise the economy.

:s

 

[Nisa]

maybe im too young to understand such stuff.

but isnt Temasek already doing a lot in Singapore, do anymore and perhaps the public backlash in Singapore stating Temasek is trying to monopolise the economy.

:s

yeah Temasek is DOING ALOT liao.... monopolising meh?

 

[germ_boi]

hmm. they have stakes in many GLCs (government linked companies) and many of which provide the majority of public/private sector jobs for the people.

if they take a bigger role, like venturing to open even more businesses, people might take it to be unfair competition. (like SPC)

 

[reachme2003]

very likely, singaporean will say something about it. but the sale will proceed. for example, Raffles Hotel which was sold to a US property fund for a high premium. were there uproars, demonstrations, peaceful parade, etc ? singaporeans are practical $$ people.

If US bank want to buy over DBS or China airline want to buy over SIA, you think Singaporeans will sit and say nothing about it?

 

[reachme2003]

who says public housing here are affordable?

Then you'll never get affordable housing - spend the next 40 years trying to pay off the debt of your 3-room flat!

 

[reachme2003]

because they see 'no future' here.

Actually, I always wonder why Temasek must invest overseas and buy companies overseas? Should not they invest in Singapore and create more jobs here?

 

[Zplus]

Business takes over Business => Still a business running whose objective is profit making.

Foreign power takes over Business => Business driven by foreign power whose objective is?? Can be profit making or can be in the interest of foreign power.

 

[therat]

Actually, I always wonder why Temasek must invest overseas and buy companies overseas? Should not they invest in Singapore and create more jobs here?

if they invest too much...
will ppl will say... Lee KD.

 

[kitkat]

Then you'll never get affordable housing - spend the next 40 years trying to pay off the debt of your 3-room flat!

Many of us are paying debt for 3 rm flat > 20 yrs , does not really make much of a difference actually. The flat is not ours to begin with.

 

[Zplus]

Then you'll never get affordable housing - spend the next 40 years trying to pay off the debt of your 3-room flat!

While it has been said that public housing is affordable... in reality a lot of home "owners" do not own their homes... they are paying off loans to buy the home. Meaning the banks are actually the real owners.

Don't believe?? Just stop paying loans and see where the house ends up...

 

[reachme2003]

not forgetting that a 40 years' loan tenure will more than double the loan amount when total interest paid is included. true, it is never affordable.

Then you'll never get affordable housing - spend the next 40 years trying to pay off the debt of your 3-room flat!

 

[StreetShooter]

I think the governments in the region are waking up to the fact that Temasek is not merely an investment arm of the SG government, but a strategic foreign policy tool as well. That's part of the reason why they do not have to report their bottom line. Profitability is only part of the equation. Being able to control large foreign companies is of strategic interest to Singapore (even if it ends up unprofitable). Power is not just political but economic. Actually political and economic power is more or less inseparable. Singapore, USA (Bush) and Thailand (Thaksin) are prime examples of this. Think about it.

I'm quite happy, actually, that someone up there recognises this and is taking care of these things.

 

[waileong]

I think that's giving too much credit to Temasek, and to such companies in general. Do you think Temasek's resources are so large that it can control large foreign companies? And even if it could, do you believe that govts would sit idly by if (say) Temasek bought a telco and decided that they would not supply telco services to certain parts of the population, or that they would tap every call? There would be riots against the company if Temasek ever tried to do a thing like that, and the govts could even forcibly take it over.

The snubbing (not just of Temasek, but of such companies in general) is driven by political considerations and xenophobia. In an age of global companies and free trade/WTO, the idea that a company is a Thai company or a Singapore company is quite backward. But such is people's thinking, it's sad to see that people cannot accept it when a Thai family decides to sell a company they own to Temasek. This is not the Thai govt selling a company financed by taxpayers' money to a foreign firm, but a private family selling its shareholding to a foreign buyer on a willing buyer/willing seller basis. No laws were broken, no regulatory approvals were needed, yet the people were misled into thinking that it was a selling of a Thai national asset to a foreigner.

I think the governments in the region are waking up to the fact that Temasek is not merely an investment arm of the SG government, but a strategic foreign policy tool as well. That's part of the reason why they do not have to report their bottom line. Profitability is only part of the equation. Being able to control large foreign companies is of strategic interest to Singapore (even if it ends up unprofitable). Power is not just political but economic. Actually political and economic power is more or less inseparable. Singapore, USA (Bush) and Thailand (Thaksin) are prime examples of this. Think about it.

I'm quite happy, actually, that someone up there recognises this and is taking care of these things.

 

[Lenscapes]

Many of us are paying debt for 3 rm flat > 20 yrs , does not really make much of a difference actually. The flat is not ours to begin with.

and after 99 yrs leasehold over..not ours too.