SINGAPORE POWER (Average total assets)

Dr Wang Kai Yuen asked the Minister for Trade and Industry, in the definition of Return on Total Assets, (a) what portion of Singapore Power's Average Total Assets is land; (b) which are the major land parcels and where they are located; and (c) how these land prices are appraised.

The Minister for Trade and Industry (Mr Yeo Cheow Tong): Mr Speaker, Sir, first, land constitutes about 5.9% of Singapore Power's projected average total assets in FY 96/97. Second, the 10 largest land parcels and their locations are given in Table 1 (Cols. 127 - 128) which has already been circulated to Members. Third, the land values were appraised by an independent property consultant, Jones Lang Wootton, in 1995, based on the open market value for their existing use, ie, as utilities and industrial properties. Table 1 - MAJOR LAND PARCELS (Cols. 127 - 128)

Dr Wang Kai Yuen (Bukit Timah): Sir, how does the ratio of land versus total equity of SP compare with the other countries like Malaysia and Hong Kong in a survey that was carried out?

Mr Yeo Cheow Tong: Sir, I am sorry we do not have the breakdown for the other companies.

Dr Wang Kai Yuen: Would the Minister do such a study?

Mr Yeo Cheow Tong: We can attempt.