Selling of core national assets

I greeted the news of the selling of our power stations with jittery. The big motherhood statements like liberation, another version of privatisation, are used to justify the move. It will definitely not affect the consumers. What an assurance. Can any vouch that this will not happen? In the past, all the privatisations were sold as the panacea for efficiency and cost reduction. What happened? Only the reverse. But the selling of the country's core assets is a different kettle of fish. Many disturbing questions come to my mind. Do we need the money? What are we going to do with the money? Buy sick foreign companies at a premium since no one is going to sell good and healthy companies except us? Or is the technology of the power station going to be obsolete that it is better to sell them now? The questions of national security is well answered and taken care of. And the consumer's and nation's interests are guaranteed to be protected. All thought through. The sale will only have benefits. Benefits to who? When all the concerns are addressed and confidently predicted that they will not become a problem, what can that we cannot sell? And it was also reported that the changes will not alter prices. For how long? We will see and monitor this again in a year or two down the road.


Anonymous said...

One day you may wake up to find your little red dot sold to our neighbours. Remember Christmas Island?

redbean said...

i believe that by selling the core assets, the money earned would be put into better use to bring in better returns plus strategic benefits. and very serious thoughts must have been put in before they are being sold. it must not be just simply for the sake of money. there must be more important considerations to do such a thing.

just hope it does not go the telco ways.

Anonymous said...

Will not selling our power stations lead to higher electricity costs as the buyer will need to recoup his costs and make money????

redbean said...

don't worry, trust me. it is reported in the papers that it will not affect the prices and consumers.

even the workers will not be affected. they have just signed the CA for another 3 years. all their rights and benefits protected. so safe for 3 years.

Anonymous said...

after 3 years how?

Matilah_Singapura said...


The sooner thing are outrightly OWNED and thus no longer "public" the better.

Yeah, the belief is that privatisation is efficient. While that may be true, privatisation also makes a NICE PROFIT, and there is nothing which motivates people more than PROFITS.

redbean said...

the companies that are going to buy our power plants are not those that are motivated by profits, i think. mabok again.

after 3 years is another story lah.

Anonymous said...

"The companies that are going to buy our power plants are not those that are motivated by profits, I think."

If Governments running public services wants to make profits, what can we expect from private companies running these services. Its a trap, however you look at it.

redbean said...

the selling of assets and the buying of assets are simply asset switching. buy this sell that.

just hope we don't good assets to chase after bad assets. it is like throwing good money after bad money.

what is the point of selling everything we own here and owning everything around the world for the equivalent value? unless we are thinking of leaving this place to live in those countries.

Matilah_Singapura said...

Eh people..

SOMEONE has got to do the work, put up the investment capital, manage and "make it happen".

So the question is "who" should do it: private or state?

And what is wrong in being PAID for effort, time, energy and intelligent, intentful, focused action? Whether it is govt or private, payment will have to be made—people need to be paid.

And private corporations need to operate at a profit, otherwise there is no point in providing the good. Govt will have to also operate at a profit—eventually capital goods need replacing.

Private is "better" than govt because the customers could actually become the owners of the business—i.e. the people own the assets which provide the goods for them. That means it is in the interest of the owners to run the business WELL, and provide the best goods and services to their customers—mainly their own selves and families.