Singapore runs its government-linked corporations (GLCs), including Keppel and Sembcorp Industries, on a commercial/profit basis.
The government’s investment division, Temasek, earlier this year is understood to have evaluated options such as divesting non-core assets or selling stocks via rights issues for these two portfolio companies as the oil price slump continued to bite.
And, as consultancy PwC has said, the nation has no hesitation in closing down loss-making GLCs.
Some
