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Australia "Eaten" By Singapore?  
User currently offlineDocPepz From Singapore, joined May 2001, 1969 posts, RR: 3
Posted (7 years 1 week 1 day 16 hours ago) and read 1904 times:

On a bored, lazy, cloudy Sunday afternoon, I came across this article and found it very entertaining. I trust that our Australian friends do not share such sentiments!

==============================
WHEN shareholders in Perth-based energy utility Alinta Ltd gather to vote on the $15 billion carve-up of the company on August 13, few of them will realise the remarkable historical event they will trigger.

In accepting $4.5 billion of cash from Singapore Power for a suite of Australian electricity and gas distribution assets, Alinta shareholders will lift the total value of Australian business assets controlled by the Singapore Government to almost $30 billion.

This will exceed the value of commercial assets owned by our own Federal Government, which is surely an unprecedented situation for any First World country. How can a foreign power own more of Australia than our own government?
============================

http://www.theage.com.au/news/opinio.../1184560106866.html?page=fullpage#

9 replies: All unread, jump to last
 
User currently offlineQANTAS077 From Australia, joined Jan 2004, 5850 posts, RR: 40
Reply 1, posted (7 years 1 week 1 day 16 hours ago) and read 1896 times:

Quoting DocPepz (Thread starter):
How can a foreign power own more of Australia than our own government?

its just indicative of what's happening down here...government will sell your mother if it adds to the surplus and they can use the spin from it, they'll claim the surplus is from good governance but its nothing more than a sale of our assets. We've sold our ass for a $15 billion surplus.



a true friend is someone who sees the pain in your eyes, while everyone else believes the smile on your face.
User currently offlineJGPH1A From , joined Dec 1969, posts, RR:
Reply 2, posted (7 years 1 week 1 day 15 hours ago) and read 1892 times:

Quoting QANTAS077 (Reply 1):
government will sell your mother

Cool - how much could I get for mine ?  Smile


User currently offlineOzGlobal From France, joined Nov 2004, 2711 posts, RR: 4
Reply 3, posted (7 years 1 week 1 day 15 hours ago) and read 1888 times:

Quoting QANTAS077 (Reply 1):
Quoting DocPepz (Thread starter):
How can a foreign power own more of Australia than our own government?

its just indicative of what's happening down here...government will sell your mother if it adds to the surplus and they can use the spin from it, they'll claim the surplus is from good governance but its nothing more than a sale of our assets. We've sold our ass for a $15 billion surplus.

'Economic Rationalism' was a term coined in Australia ,which already tells you something... Short term planning horizons in both business and government and a culture where most people are only focused on the their mortgage and interest rates create the environment for the wholesale swindling away of the national infrastructure. No foreign government will have an agenda driven by Australia's national interest which is the final reason for keeping control of national infrastructure.



When all's said and done, there'll be more said than done.
User currently offlineDocPepz From Singapore, joined May 2001, 1969 posts, RR: 3
Reply 4, posted (7 years 1 week 1 day 15 hours ago) and read 1871 times:

I do recall in the 1960s and 1970s in the last commodities boom driven by the Japanese industrialisation, the Japanese poured lots of money into all sorts of Australian property assets. They got burned in the 1980s when the party ended. So our Australian friends might have the last laugh!

All companies, including Singapore govt-linked companies just want to make money. I don't think Singapore Power is going to spend billions and billions to switch the power in NSW, WA and VIC off. Neither do I think that Singtel would decide to shut Optus down tomorrow just for fun. Well I'd be fuming if they spent $14 billion of Singaporean money just to do that!

Plus, if SIA wants to spend billions allowing Australians to fly cheaply through Tiger, then good for the Australian consumer. Qantas through Jetstar Asia did bring fares down at my end here (and they've lost plenty of money in the process) so I guess we just want to return the favour!


User currently offlineBill142 From Australia, joined Aug 2004, 8439 posts, RR: 8
Reply 5, posted (7 years 1 week 1 day 15 hours ago) and read 1858 times:

Would the same questions be asked if these Singaporean companies which owned all these interests in Australia were private? The writer neglects to mention all the acquisitions that have been made or attempted to be made into New Zealand by Australian companies.

User currently offlineJafa39 From , joined Dec 1969, posts, RR:
Reply 6, posted (7 years 1 week 1 day 14 hours ago) and read 1843 times:

Quoting Bill142 (Reply 5):
The writer neglects to mention all the acquisitions that have been made or attempted to be made into New Zealand by Australian companies.

Kiwi govt, and Kiwi's in general are getting a trifle jumpy about "furreners" owning too many assets....profits go offshore, we all get poorer!


User currently offlineDavid L From United Kingdom, joined May 1999, 9523 posts, RR: 42
Reply 7, posted (7 years 1 week 1 day 12 hours ago) and read 1791 times:

Quoting Bill142 (Reply 5):
The writer neglects to mention all the acquisitions that have been made or attempted to be made into New Zealand by Australian companies.

We've had the same half-truths about UK companies falling into foreign hands when, in reality, we've have a history of investing in overseas companies. How does the $30 billion compare to private domestic investment in Australian companies?


User currently offlineCupraIbiza From Australia, joined Feb 2007, 836 posts, RR: 6
Reply 8, posted (7 years 1 week 1 day 1 hour ago) and read 1693 times:

Quoting Bill142 (Reply 5):
Would the same questions be asked if these Singaporean companies which owned all these interests in Australia were private? The writer neglects to mention all the acquisitions that have been made or attempted to be made into New Zealand by Australian companies.

The whole article is a beat up. Slow news day, quick lets write an article about something... anything... I am sure the Canadians are writing a similar article abour Rio Tinto buying Alcan........



Everyday is a gift…… but why does it have to be a pair of socks?
User currently offlineBill142 From Australia, joined Aug 2004, 8439 posts, RR: 8
Reply 9, posted (7 years 1 week 21 hours ago) and read 1650 times:

Quoting CupraIbiza (Reply 8):
I am sure the Canadians are writing a similar article abour Rio Tinto buying Alcan........

Don't forget to include BHPs rumored purchase of Alcoa


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