atans1

S’pore Inc: Hanging restricts investment options

In Energy, Mining on 31/10/2010 at 5:32 am

The leader of the Greens in Australia said that the 2005 execution by Singapore of Australian drug trafficker Van Nguyen is an example of why Singapore’s human rights record should prevent SGX from acquiring the ASX.

As

– the Greens and the Liberals and independents can outvote the minority Labour Party govmin; and

– in a situation where the S’pore govmin does not have a voting stake in SGX (unlike in the case of GIC and Temasek where the govmin clearly has the power), its human rights record is an issue;

what chance for GIC, or Temasek or a group company, or any other GLC  getting approval to make a significant acquisition in the energy or mining sectors in Australia? Remember Temasek wants to expand its exposure in these sectors and GIC follows investment fashions and investing in natural resources is oh so hip. Oz is a “no-brainer” place to invest in given its abundance of natural resources, closeness to China geographically, its gd legal system and its political stability.

So maybe to widen our SWFs’ options, S’pore should promise Australia that it will never hang any Oz citizen for any crime. There is a precedent: a British man who fled to Oz was only extradited here only on condition that he wouldn’t swing if he was found guilty of murder.

It’s not as though there are that many other countries that have an abundance of natural resources, closeness to China geographically, gd legal systems and political stability.. Canada too is another place where judicial murder is frowned upon. That leaves only the US where judicial murder is fine.

So maybe my friends in Maruah should approach the SWFs for funding?

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