The PAP government should never become a popular sucker Santa Claus government

Senoko Energy Limited (SEL), formerly known as Senoko Power Limited, is seeking government aid of between $100 million to $200 million to cushion its weak financials amidst power supply glut.

In 2008, Temasek Holdings sold Senoko Energy Ltd to Lion Power Holdings, a consortium led by Japan’s Marubeni Corporation for S$3.65 billion.

In the face of an industry wide power supply glut, there is nothing stopping SEL from seeking financial aids from the Singapore government. However, as a Singaporean tax payer, I question if this is appropriate and I further question if the Singapore government should even entertain such a request.

Now that SEL has been sold to a Marubeni led consortium comprising of Kansai Electric Power, Kyushu Electric Power and Japan Bank for International Co-operation etc, I ask if SEL now needs to beef up its finances, it should rightfully looks to its parent company or new owner rather than to the Singapore government, isn’t it?

This whole thing may not be as clear cut to PAP book-smart scholars or generals but it is crystal clear to any street-wise persons or any hustlers. I will give an example: If a woman who is divorced and re-marries and she is in urgent need of some funds, shouldn’t she looks to her new husband for help rather than to her divorced husband?

PAP government’s investment records and business involvement records had some stupendous failures and among them were Bayer, Citibank, Bank of America, Suzhou Industrial Park and the recently officially terminated Amaravati project in Andhra Pradesh, India etc.

Singapore government’s funds didn’t drop from the skies. It is, afterall, our citizens’ hard-earned money. I strongly urge our book-smart ministers to be very, very careful when considering SEL’s request for financial aids.

 

Simon Lim

 

 

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15 Responses to “The PAP government should never become a popular sucker Santa Claus government”

  • patriot of TUMASIK:

    Buy-Sell whatever lah!!! there is an International rate of 2% to be PAID…who is or are the receivers…Leegally speaking it is NOT corruption pe se but LEEgal CORRUPTION at play!!!

    and that goes for all GIC & Temasek Holding Transaction too???hmmmm… I wonder???… and NO wonder the reins cannot be released… stakes too HIGH and returns too GOOD…F..K the losses…Not my MONEY what!!!! Win or Los I take what is MY DUES!!! “Pow Chiak Lew lian”

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  • Privatization is a failure:

    If top civil servants (and ministers) are paid top private-sector salaries why is it necessary to privatize utilities (power, water, gas, and public transport)? Considering this attracting (and retaining) top private sector people that run privatized utilities should not be a problem.

    Those who get paid top private sector pay should deliver top private-sector performance and take private-sector risks (i.e., sacked for poor performance).

    Utilities could have been “privatized” and operated liked a private sector company BUT kept wholly-owned by Government so it does NOT have to pay dividends. This would keep what they charge the public much lower.

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  • Lost Trust in PAPi:

    Imagine, SP State-owned can sell power more expensive than small power retailers? All these are the WAYANG Shows; Regardless, all the power grids and distribution networks are State-owned hence all the WAYANG monopolizing shows, soon you forgotten who controlled the “BASE PRICE”.

    Don’t let the “Fixer” fix it’s own People. Recall the MiloIndianCumMalay. I simply lost trust in PAPi.

    Whatever they say, has lost its meaning to me.

    Change is necessary.

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  • Asd:

    Alot of slave to pay tax to enrich the rich

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  • Sinkie:

    Trump asked Japan to quadruple annual payments for U.S. forces stationed there to around US$8 billion, and demanded South Korea to pay US$5 billion, five times the amount it currently pays.

    Will the U.S. ask Singapore to pay for American military assets stationed in Singapore?

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  • Many failed policies:

    Many scholars. Many failed policies.

    CPF min sum they cannot get it right and kept tweaking. Does this prove that they dish out policies that are not sound or properly planned?

    EROSIONs of Good Governance under the 4G.
    4G sux. We need 5G.

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  • PAP CLOSE DOWN:

    Flop after flop.

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  • pap dies soon, confirmed:

    Asd:
    Alot of slave to pay tax to enrich the rich

    during Qing dynasty, empress dowager lived off blood sweat tears of Qing peasants. her eunuchs and her mandarins followed her lead.

    lose money in gic temasick, tax the Qing peasants more. Qing IBs at that time told empress dowager and her eunuchs and her mandarins Qing peasants are sheep brained. as long as once in a while give them S$300 pa voucher, can tax them S$3,000 extra also no problem.

    but like all things GST. when Qing peasants could not produce from farm, meaning no income, the empress dowager and her eunuchs and her mandarins were surprised when Qing peasants revolted.

    Long story short. since that revolt, Qing dynasty is no more. so the same with pap, when GST at 9% coupled with 70% sheep no income even Grab food also tak jalan, sure as sunrise pap dies. confirmed dies. guaranteed.

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  • What Rubbish ?:

    When they lose money, they turned to the government for aid. But when they make profits do they give the government money ? Its taxpayer money and not from LHL’s wallet. What the fiack, this type of business I also want to do.

    Our government leaders have been foolish all along eg conned by Indian leaders on CECA. Its time to follow LKY way. Sack all those who are incompetent and inefficient.

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  • Insurance premium up 50% !!!:

    My insurance premium for hospitalisation went up 50% compared to last year.

    This is daylight robbery!

    They allowed to charge any amount they like unilaterally.

    Guys and Gals please check your insurance premiums.

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  • Bapak:

    Simply put, that Jap company knew how inexperienced & stupidiously generous are the book-worms. CECA is one good example & they don’t know it is an unwritten rule never pick up sap in that cuntry.

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  • Subduing Sinchiapor Inc.:

    “The supreme art of war is to subdue the enemy without fighting.” (even if they have so many as 4 score of paper generals)

    - Sun Tzu

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  • Reset SG politics:

    India outsmarted SG by the CECA.
    WE ARE PAYING THE PRICE. THE REAL SUCKERS.

    THE ELITES UNAFFECTED AND UNACCOUNTABLE.

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  • Harder Truths:

    Simon – you assume there are Reserves.
    There is nothing there – that is why no one dares to do an audit.

    No matter – by the time the truth is revealed we will all be dead and gone. The future ballsless generation will still be voting pappies – that is, if voting still exists in the future.

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  • patriot of TUMASIK:

    Harder Truths:
    Simon – you assume there are Reserves.
    There is nothing there – that is why no one dares to do an audit.

    No matter – by the time the truth is revealed we will all be dead and gone. The future ballsless generation will still be voting pappies – that is, if voting still exists in the future.

    Got PLENTY lah!!! bro, Post-dated checks and Promissory Notes and DBS Bank Draft not dated, unsigned…all pieces of worthless SHIT

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