The separate electrical generating and
supply companies are all owned by Temasek - even as much
as some form of privatisatised effort was being put up to create a
facade of ''competition'' and differentiation in services.
In the 1970s, there were genuine interests from Singapore based
privately own companies with joint-ventures from foreign companies
offering to takeover the power generating and supply business, and
modernised the plants.
Yet this same Political Leadership declined those offers -
claiming strategic interests at stake.
Has the strategic interests changed since the passing of 30 odd
years ?
Temasek was formed to compete and generate profits from overseas
investment, and yet it was allowed to milk the pockets of
Singaporeans for over thirty years - generating annual
profits by servicing Singaporean basic needs, and the profits
being lost in its secretly kept financial books.
Will sellling off the power plant to a China owned company
benefit Singapore at the price announced ?
Surely, the new Owner will have to find a new price equilibrium
to recover its high priced investment PLUS the burdensome costs of
new upgrades to an old facility ?
As usual, it will be the consumer that will ultimately pay the
price.
