PRIVATIZATION OF FULLY GOVERNMENT-OWNED COMPANIES

Parliament of Singapore · 14 March 1989 · 7th Parliament

Official Report, 14 March 1989, Vol 53, Issue 3 · Open in the reader (summaries, search, filters)

George Yong-Boon YeoLee Siew Choh
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Dr Lee Siew-Choh asked the Minister for Finance if he will state which fully Government owned companies have been privatized either partly or wholly and what amounts Government has been paid in each case.

The Minister of State for Finance (BG George Yong-Boon Yeo) (for the Minister for Finance): Mr Speaker, Sir, from November 1985 to January 1989, the Government has partially divested its shareholdings in three fully Government-owned companies. These are Singapore Airlines Ltd, Resource Development Corporation Ltd and Singapore National Printers.

The total sales proceeds from these divestments amounted to $850 million.

Dr Lee Siew-Choh (Non-Constituency Member): Sir, has the Government any plans for more divestment this year?

BG George Yong-Boon Yeo: The Government's policy on divestment has been stated. It has not changed. Divestments will continue in the future. The precise timing of these divestments will depend upon market conditions and detailed studies being undertaken right now.

Source: Singapore Parliament Official Report (Hansard) for 14 March 1989. Republished on SGParliament.