So I was reading The EDGE and in this article profiling ST Marine, it raised an interesting point:
“Recently, ST Engineering began building on its engineering capabilities to develop an environmental engineering business – similar to the ones that Keppel and Sembcorp Industries have.”
What I find it strange is that why does 3 Temasek-linked companies need to fight for the same pie?
Perhaps that is where Singapore’s ONLY capabilities lie. They can only do these kind of engineering work.
Perhaps this pie is big enough and lucrative enough to be gobbled up by all and still earn supernormal profits.
Perhaps they are given a mandate to pursue this by the government.
Another interesting thought:
How come Keppel and Sembcorp ended up being at the fore front of rig building? Why is it the shipyards in Korea, Greece and China are unable to do what we do?