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01 Apr 2019
Prime Minister Office
Feedback View - 179
Do not destroy Hyflux


Some people say "No bailout" with reference to Hyflux Tuaspring.

They think they are smart. After all, the learn this principle from Economics 101.

But they do not realize the shallowness of their thinking.

This concept of "no bailout" is advanced by capitalist proponents. If the state does not bail out failing companies, these companies can be taken over by people with money, i.e. the capitalist, at the lowest possible price.

They do not want the state, which has some money, to compete in the bidding process. So, they coin the term "no bail out" to exclude this competition.

I am not saying that the state should come in and bail out every failed company. No way.

But I am saying that the state should not allow the capitalist vultures, especially foreigners, to take assets at extremely depressed prices.

Whenever I see people mutter "no bailout", I look at their thinking to see if they really know what is going on, or if they are just shallow minded people.

Tan Kin Lian


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