Power Seraya sold

[Ahwhye]

http://www.channelnewsasia.com/stories/sin.../393730/1/.html

 

Temasek sells PowerSeraya to YTL Power for S$3.8b

By Rachel Kelly, Channel NewsAsia | Posted: 02 December 2008 2117 hrs

Photos 1 of 1

 

 

 

 

SINGAPORE: Temasek Holdings has sold the Singapore generation company PowerSeraya to Malaysia's YTL Power for S$3.8 billion.

 

PowerSeraya is the third and last genco that Temasek had put up for sale. It had earlier sold Senoko Power and Tuas Power.

 

The timing of the transaction was a surprise.

 

Just a week ago, Temasek had said that it was suspending the tender process for PowerSeraya due to poor market conditions.

 

In a statement, Temasek said it had found YTL Power's proposal to be attractive.

 

Temasek said with the sale of PowerSeraya, it would have fulfilled its commitment to help develop a competitive power generation market in Singapore.

 

YTL will pay S$3.6 billion for the purchase and take on a debt of $201 million.

 

The transaction is expected to be completed in early 2009.

 

PowerSeraya is the second largest power generation company in Singapore by installed capacity.

 

It can produce 3,100 megawatts of electricity or about a quarter of Singapore's total licensed generation capacity.

 

PowerSeraya also operates oil trading and multi-utility businesses.

 

YTL Power Managing Director Francis Yeoh said the acquisition of PowerSeraya will help grow YTL's utility business in the region.

 

The deal is subject to approval from YTL shareholders.

 

DBS Bank is providing some S$2.25 billion in credit facilities to YTL. - CNA/vm

[Ahwhye]

SFI sold......

 

http://www.channelnewsasia.com/stories/sin.../393661/1/.html

 

SATS to buy 70% stake in Singapore Food Industries

By Desmond Wong, Channel NewsAsia | Posted: 02 December 2008 1634 hrs

Photos 1 of 1

Singapore Food Industries

 

 

 

 

SINGAPORE: Singapore Airport Terminal Services (SATS) said on Tuesday it is buying nearly 70 per cent of Singapore Food Industries (SFI) for about S$335 million in cash.

 

SATS is paying 93 Singapore cents a share for the stake held by investment company Temasek Holdings

[Kezg1]

1st Tuas powerstation then Senoko and now Seraya....sooner or later they can sell sin... land

Are we really in deep sxxt...hope not.

[Chongster]

wouldn't SATS still be ultimately owned by Temasek? cash out to buy global distressed assets? good move actually

[Chongster]

selling strategic assets is a good move, in peace time, it's boring business, you still regulate it anyway, so just let private sector (foreign or otherwise) earn the boring retunrs, in real times of troubles, just nationalize it again, what are they going to do

[Hishercar]

wayang only

 

moving asset around to look good on paper

 

 

end of the year report card

 

to hide losses

[Scenic98]

i am not so sure if the returns at all these power stations are all that boring.

 

i think it's just to cover some of the losses from those bad investments.

[RadX]

hmmm...just received this mail from Seraya telling me bla bla bla cheaper......rates

Dear Sir/Mdm,

 

We are rather specialized in understanding your bill and to identify the possibility to save you up to 20% per month off your current electricity bill(s).

 

If paying lesser for your electricity bill is something your are interested in exploring please find below for our introduction. 

 

SP's regulated electricity tariff is $0.2020 per kWH (Q1 2017) while Seraya Energy's fixed rates are around 

$0.17xx per kWh which translates to savings of approximately 20%-23%.

 

Accompanied with your contract, Seraya offers up to $20,000 Liability for any disruptions to your electricity as an added "insurance".

 

Last but never the least, Seraya is $10,000,000.00 Paid up in capital.

 

See Link: http://www.straitstimes.com/singapore/electricity-market-to-be-fully-liberalised-in-2018

 

*Switching to Seraya Energy will not disrupt your electricity supply as the switch to us is a financial agreement to have us as your billing agent at the agreed rates.

Physical supply still comes from SP who own and control the grid.

 

If it is not too much to ask please reply with your company's latest 2 months electricity bill (front & back) so that I can provide a consultation to you.

 

Key Product Features: 

FIXED energy rate throughout contractual period.

Offers PRICE CERTAINTY for ease of FINANCIAL BUDGETING and cash flow planning. 

 

About Seraya Energy 

• Retail arm of YTL Power Seraya, backed by own power generation plant in Jurong Island. 

• Customers who switched to us have embarked on a fulfilling journey with our engagement activities.

• Awarded Business Superbrands for since 2010.

• Proven track records since 2001 with substantial list of awards and accolades. 

 

Let me know when you are free, so we can meet up to discuss the process and requirements.

 

 

 

[Karoon]

 

hmmm...just received this mail from Seraya telling me bla bla bla cheaper......rates

 

 

 

this is great. Turning into telcos kind of war. Pacific Light (think sg+petronas owned) sent a mail with first month free electricity when you sign up.

[Kusje]

Only for companies now right?

[Mustank]

Wah!!! I also want

[RadX]

Only for companies now right?

Yes. Dunno if opening up to domestic in 2018