Posts Tagged ‘Dubai World’

Slow train from UK to China: See who’s running it

In Economy, Logistics, Shipping on 12/04/2017 at 4:52 am

I’m surprised the cybernuts are not saying that this shows S’pore is doomed, doomed. They most probably don’t read anything other than “The Idiots — S’pore” and TRE and ST. Even Terry’s Online Channel is too cheem even if it advocates “pak police” (OL OK “Diss police”)

The first rail freight service from the UK to China has departed on its 17-day, 7,500-mile journey.

British goods including soft drinks, vitamins and baby products are in the 30 containers carried by the train, which will be a regular service.

The DP World locomotive left its terminal in Stanford-le-Hope, Essex, for Zhejiang province, eastern China.

Seriously waz interesting is that the train is run by a port co that is a global rival of PSA: DP World or Dubai World.

S’pore doesn’t have the problems of Dubai

In Economy on 06/07/2010 at 5:49 am

Yesterday, we reported that Dubai is relooking its growth model (under Blame GKS?), sumething that the S’pore govmin is complacently  not doing.

But let’s to fair to the S’pore government by pointing out that S’pore doesn’t have the debt problems of Dubai.

According to FT: [T]he state-owned DW [Dubai World] is close to sealing an agreement on restructuring $23.5bn in debts.

Dubai’s state-backed companies face annual debt repayments of $15bn-$20bn. Analysts say the limited ability to raise funds suggests that further debt restructurings, causing pain to domestic and international lenders, are likely …

The government is set to turn its attention next to Dubai Holding, a conglomerate owned by the ruler, which has around $12bn in debts. Its investment companies, say analysts, could receive government support and are already in talks with banks for a rescheduling of debt.

The moral of the story: The PAP government is no different from other governments; radical change will only come when things go badly wrong. One LKY is still around from 1959. The youngest cabinet ministers are three generations his junior. GCT has been around since the 1970s and the PM since the mid 1980s. In 1959, Eisenhower was the US president, in the early  70s Nixon, and in the mid-80s the president was Reagan. All three presidents are dead.