GOVERNMENT ENTERPRISES (Capital investment)

Wednesday, 15th October, 1969

Mr Ng Kah Ting asked the Minister for Finance (a) how many Government enterprises and corporations have been established, up to the latest convenient date; (b) how much capital is invested; (c) how many other enterprises are there in the Republic in which the Government has equity participation, and how much capital is invested; and (d) whether he is satisfied with the progress made by such enterprises.

Dr Goh Keng Swee: (a) Eight wholly-owned Government enterprises have been established. They are -

1. Chartered Industries of Singapore Ltd.

2. Keppel Shipyard (Pte.) Ltd.

3. Neptune Orient Lines Ltd.

4. Sembawang Shipyard Ltd.

5. Singapore Electronic & Engineering Ltd.

6. Singapore Pools (Pte.) Ltd.

7. Singmanex Ltd.

8. R.T.S. Enterprises (Pte.) Ltd.

(b) The total equity investment in these enterprises amounts to $70 million.

(c) In addition, Government has equity holdings in joint ventures with 21 industrial, banking and communication companies. The total value of equity participation at cost in these 21 enterprises amounts to $122.4 million. This figure is substantially larger than the one I used in a recent speech because it includes, in addition to manufacturing enterprises, the Government's share in the Development Bank of Singapore as well as Malaysia-Singapore Airlines Ltd.

(d) I am satisfied with progress made by these enterprises.