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地铁公司私有化的政治考量


主流媒体传言,在股市上市的新加坡地铁公司,将被淡马锡私有化。如果这是真的,那么,这将是基于政治考虑,而非商业考量。

淡马锡目前拥有地铁公司大约54%股权,而不久前,政府也宣布将以10亿元购买地铁公司的资产,表面看来,好像地铁公司中了马票,发了一笔横财,淡马锡肥水不流外人田,私有化就能增加淡马锡的净利。

一般上,有潜力的公司,如果被私有化,就是说将来,这家公司的净利会上升,肥水不流外人田的做法,有其合理性。就像一家上市的地产公司,知道将来手上的地皮会起价,趁着现在没人发现,快快私有化。过不久,就会净利大增。

当然,私有化还有一个好处,不需要对外公布账目,不需要向交易所报告交易或者不利消息。自然而然,股民和公众也不能向被私有化的公司索取资料。这家公司将来如何经营,给公司管理层发多少薪金,也不需要向人民交代了。

从淡马锡手握几千亿的投资金额,地铁公司在它的整体投资组合中,只不过是一个小咖。即使政府倒贴10亿来购买地铁资产,所增加的利益,也不会对淡马锡整体表现做出巨大影响。

因此,结论只有一个:政治考量。

政府重组地铁管理层,派了一组军人去提升地铁的管理,维修,等等。几年过去了,似乎没有起色。最近又闹出车厢偷偷运回中国维修的不利消息。这显示地铁问题,不可能在短时间内可以解决。现在,离大选还有4、5年时间,把地铁公司私有化,有很多不利消息就可以不需要向股民、公众报告了。

不需要报告,自然就有好处了。如果,地铁公司继续上市,它的一举一动,就要有所交代,其中包括将来的盈利预计,政策,薪金,维修,等等。

如果继续像现在这样,发声明,道歉,然后,和政府一起开记者会,没有详细说明也能够过关,这种一党独大的做法,似乎越来越难了。不但如此,交易所也很难交代,外国投资者看在眼里有何感想?如果,不把地铁公司下市,对股市的公信力也不利。

我们从交通部长许文远对于车厢问题的回答,就很清楚的看到,政府不想对人民公开交代事情的来龙去脉。许文远甚至说,这是小题大做,他害怕把车厢车纹问题公开,会引起惊慌。

事实上,部长不想回答问题。人们也奈何不了他。但是,作为地铁公司,一家上市的公司,不对经营的业务做出解释,回答公众的问题,那就很难交代了,尤其是新加坡交易所的股票交易是公开和跨国的。一次,两次,没有好好交代,可能还说得过去。但是,如果每一次都是如此,就是有意隐瞒。

但是,一旦地铁公司下市,它只需要向淡马锡报告,它向改管理层发多少工资,也只有淡马锡知道。甚至,地铁资产的计算,折旧,怎么卖,怎么买,跟股民没有关系,当然也跟公众没有关系。

我们想一想,4、5年后,地铁问题还是无法解决,地铁公司却继续发高工资给管理层,选民会怎么想?尤其是贫富问题没有解决,无能的人继续领高新,选民会像2015年那样同情行动党吗?

行动党不论在国会内外,都是我行我素。只有自己监督自己,别人插不进来。政府想要回答就回答,不想回答,就不回答。反对党议员在国会的提问,政府可以避重就轻的回答,主流媒体更加可以选择性报道。把地铁公司私有化,就是把这个公开的管道给拔掉。

行动党政府的所作所为都是政治主导的。它对地铁问题的回答,也是政治考量高于一切。它知道多说不如少说,最好就是不说。因为,许文远都说了,说太多会把人民吓到,引起不必要的恐慌。

因为在一党独大的背景下,政治正确,经济就会正确。政治上如果不要说太多,经济上就跟着配合,不说太多。

但是,有时也有误判的。陈川仁就不如许文远。当他从第二通道回国走捷径,工人党方荣发批评他时,陈川仁反而说方荣发把事情政治化。他应该向许文远学习不说话,少说话的本领。因为,政治人物的一举一动就是带有‘政治化’的,不然,怎么会有武吉巴督补选呢?

作为社会及家庭发展部长,陈川仁如果要发声,反而能够利用他管理社会和家庭发展的身份,对于在关卡久候的老者表示关怀和安慰,而本身会向入境处建议老者先行,这能够让他的形象加分,而不像现在的减分。

或许,这是行动党第三和第四代接班人的不同素养,连说话多少,分量如何都拿捏不准。到底,有几个陈川仁这样的所谓第四代行动党接班人,懂得少说话、不说话、说对话的政治艺术?

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