docpepz
Posts: 1706
Joined: Thu May 24, 2001 8:20 pm

Australia "Eaten" By Singapore?

Sun Jul 22, 2007 6:15 pm

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#
 
QANTAS077
Posts: 5177
Joined: Wed Jan 14, 2004 5:08 pm

RE: Australia "Eaten" By Singapore?

Sun Jul 22, 2007 6:18 pm

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.
 
JGPH1A
Posts: 15080
Joined: Thu Aug 14, 2003 4:36 pm

RE: Australia "Eaten" By Singapore?

Sun Jul 22, 2007 6:20 pm

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

Cool - how much could I get for mine ?  Smile
Young and beautiful and thin and gorgeous AND BANNED ! Cya at airspaceonline.com, losers
 
ozglobal
Posts: 2536
Joined: Tue Nov 09, 2004 7:33 am

RE: Australia "Eaten" By Singapore?

Sun Jul 22, 2007 6:26 pm

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.
 
docpepz
Posts: 1706
Joined: Thu May 24, 2001 8:20 pm

RE: Australia "Eaten" By Singapore?

Sun Jul 22, 2007 6:39 pm

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!
 
bill142
Posts: 7861
Joined: Wed Aug 04, 2004 1:50 pm

RE: Australia "Eaten" By Singapore?

Sun Jul 22, 2007 7:02 pm

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.
 
jafa39
Posts: 4320
Joined: Wed Mar 23, 2005 2:14 pm

RE: Australia "Eaten" By Singapore?

Sun Jul 22, 2007 7:27 pm

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!
We, the undersigned, do hereby consent.....
 
David L
Posts: 8552
Joined: Tue May 18, 1999 2:26 am

RE: Australia "Eaten" By Singapore?

Sun Jul 22, 2007 9:34 pm

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?
 
CupraIbiza
Posts: 547
Joined: Mon Feb 26, 2007 1:55 pm

RE: Australia "Eaten" By Singapore?

Mon Jul 23, 2007 8:25 am

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?
 
bill142
Posts: 7861
Joined: Wed Aug 04, 2004 1:50 pm

RE: Australia "Eaten" By Singapore?

Mon Jul 23, 2007 1:01 pm

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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