Does Caldecott Hill belongs to Mediacorp or the state?

The predecessor of Mediacorp, Radio Television Singapura (RTS) was a government department under the Ministry of Culture. Later, to become more operationally and financially autonomous, it became a statutory board and was renamed Singapore Broadcasting Corporation (SBC). In 1994, it was privatized and became Television Corporation of Singapore (TCS), managed by Singapore International Media (SIM). In 1999, SIM was restructured and became Mediacorp, wholly owned by Temasek.

Did Temasek pay market rate for Mediacorp, or was the entity simply transferred to it? (I couldn’t find any information.)

Unless Temasek paid market rate for Mediacorp and the land on which it was sitting, Caldecott Hill, Mediacorp has no business selling the land. The land should be returned to the state and when the land is sold, the proceeds goes to the reserves of the state, not to Mediacorp and ultimately Temasek, otherwise, it makes a mockery of their financial results – they may boast that they are making a return of X percent but it means nothing if they are inflated by the sale of a gift.

Worse still for Temasek, such a practice becomes a moral hazard since they know performance can be augmented by acquiring a state entity at below market rate and then selling it at market rate. That is why I always take their results with a pinch of salt.

 

Foong Swee Fong

 

 

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14 Responses to “Does Caldecott Hill belongs to Mediacorp or the state?”

  • patriot of TUMASIK:

    Hello Foong, it is a well-KNOWN “Fact” who CONtrols the Media in Singapore leh!!!…

    Remember when the man who CON-YOU said he will CONtrol the Flow of Info from the Net???…

    BillGates laughed @ his face and went to help Malaysia with the Internet Corridor although it did NOT succeed well…but just to show that even our neighbours a developing economy or 3rd world then is willing to open the Door to Freedom of Information…and needless to say Malaysia has MORE FREEDOM than the CONtrolled system of SingaporeINC, not a country but a Dynasty that need to be DESTROYED!!!…

    B4 it DESTROYs us if that is not done YET!!!

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  • Trust:

    It’s 99

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  • Dun Bluff Mi U Tink I 2pid?:

    How would we know? It’s the same as HC’s salary. Secret

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  • uselesstankinl:

    So many land were “TRANSFERED ” TO TEMASEK,

    YOU’LL BE SURPRISED !!!!

    The HANKY PANKY of PAP !!!

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  • trublu:

    Whats diff between MEDIACORP N THE *STATE*?
    NO DIFF,SAME PAPple.

    Anyway its mediaCORPSE?
    There is NO REAL MEDIA HERE except SOCIAL media???

    I hear *CORPSE* can talk.. ?

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  • Pioneer:

    I just hope that the garmen answers to Mr Foong and can provide the general public more information on the vacated land by Mediacrop. In the meantimes, if we are in the “dark”, it is difficult to make comments, jurdgements or contributions.

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  • Out of control:

    More and more “evil serpents” are under the “private” control of TH.

    Remember the $2 PAP party company that control all computers in Town Councils?

    When the next party takes over the Cabinet, it may find itself in control of hardly anything.

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  • Asd:

    I think after election all their computer all disappear

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  • Yours is mine & mine is mine:

    “Out of the crooked timber of humanity, no straight thing was ever made. By a lie a man throws away and annihilates his dignity as a man. A man who himself does not believe what he tells another person has even less worth than if he were just a mere thing.”

    - Immanuel Kant, “The Metaphysics of Morals”

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  • Mediacorp CLOSE DOWN:

    I recall going for an interview for the post of editorial assistant way back in 1990 with SBC/TCS or whatever it was known then.

    The woman interviewer in red jacket was so hostile and arrogant and rude. After that they sent me a letter asking me NEVER to apply to their organisation again.

    If I don’t suit their criteria, they don’t have to call. Rather than give candidates the worst impresssions of themselves.

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  • uselessgov:

    JTC is another HANKY PANKY of PAP.

    Flats allocated to them at expense of locals in the 70′s and 80′s , cost flats prices to rise with shortage. Employers complaining their cheap MY factory workers cannot find good nearby homes.

    NEXT comes PSA whose quarters at Keppel PSA Tanjong Pagar, caused another issue. PAP lost ANSON to JBJ becaused of these flats. Then SERS came into the picture.

    Vote PAP IF YOU WANT MORE ISSUES LIKE ABOVE.

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  • NotMyProblem:

    @Mr. Foong; this is not the only skeleton in the closet. That’s precisely the reason that the husband and wife team must be in power and they have to pay all the ministers with million$ to keep the skeletons in place.

    We just hope Singaporeans are as smart as our Malaysians counterpart, able to sense the deep dark secret of 1MDB. 7 out 10 Singaporean adults are graduates. I am sure they are not wasting their parents money for their education.

    Our smart people must want to know a lot on our Reserve, GLC, GIC, CPF, Temasick. Am I right?

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  • patriot of TUMASIK:

    Yours is mine & mine is mine:
    “Out of the crooked timber of humanity, no straight thing was ever made. By a lie a man throws away and annihilates his dignity as a man. A man who himself does not believe what he tells another person has even less worth than if he were just a mere thing.”

    - Immanuel Kant, “The Metaphysics of Morals”

    “Into each GE some Rain must Fall, this GE it will POUR”…ForwardSingapore and Flood the Parliament with Patriots and Not Strokes of Lightning

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  • Bonus Again?:

    So will the head honchos of TH get more bonus because land sale will improve their performance?
    Good article.

    Dun Bluff Mi U Tink I 2pid?:
    How would we know? It’s the same as HC’s salary. Secret

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