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Monday, September 07, 2009

More Singapore big names firms sold to foreign investors

Last year, Senoko Power was being sold to a Japanese consortium. This month, homegrown oil company, Singapore Petroleum Company (SPC), is sold to PetroChina. Today, we are seeing local semiconductor company Chartered Semiconducter being sold to Abu Dhabi.

The above mentioned 3 companies were all owned by Singapore government in some way and I do not see why they are selling such prized assets to foreign investors.

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