GOVERNMENT LINKED COMPANIES

Mr Steve Chia Kiah Hong asked the Deputy Prime Minister and Minister for Finance (a) if he will give a full list of Government linked companies (GLCs) and (b) what happen to the funds raised when these GLCs are sold off.

Mr Lee Hsien Loong: A listing of all the companies in the Temasek Group will not be meaningful. For example, many of the companies are set up for specific purposes in accordance with industry practice. Thus, each ship of Neptune Orient Lines is owned by a separate company, and every building under development typically comes under a separate company.

It will be more meaningful to look at the businesses that the Temasek group of companies are involved in. The main business areas and the major companies in each area are as shown in the table below: Main Businesses Major Companies Finance DBS Group Holdings ECICS Holdings Telecom & media Singapore Telecommunications ST Telemedia1 MediaCorp of Singapore Keppel Corp Multi-industry Singapore Technologies Pte Ltd SembCorp Industries1 Keppel Corp Transport & logistics Singapore Airlines PSA Corp Neptune Orient Lines SMRT Corp SembCorp Logistics1 Property CapitaLand1 Keppel Land Mapletree Investments Infrastructure & ST Engineering1 engineering SembCorp Industries1 Keppel Corp PWD Corp Utilities Singapore Power SembCorp Industries1 Keppel Corp Tuas Power PowerSeraya Senoko Power City Gas Gas Supply Main Businesses Major Companies Others Chartered Semiconductors Manufacturing1 ST Assembly Test Services1 Wildlife Reserves of Singapore Singapore Pools Temasek Management Services

1 Denotes company is held through Singapore Technologies Pte Ltd.

When companies in which Temasek has a direct stake are sold off, the proceeds of divestment are returned to the Government.