Water is an existential issue

Often times, I find it difficult to understand Chan Chun Sing.

In the budget debate in March 2017, he said that "water is an existential issue for Singapore". Click here. 

I do not understand this highfalutin word, but I guess he meant that water is very important for Singapore.

If this is the case, why is the government allowing Hyflux to go insolvent and for control of Hyflux to be taken over by foreign interest?

Are there any other Singapore owned entities that can take over Hyflux and Tuaspring?

Why is the minister keeping quiet over this "existential issue"? Has he forgotten his statement?

What about the losses that will be suffered by 34,000 retail investors who have bought the Hyflux preferential shares and perpetual securities with their hard earned savings?

According to the restructuring plan presented to court, these retail investors will lose 90% of their investments.

Are these investors important to Singapore? Is this also an "existential issue?

I respect Chan Chun Sing for his humble background and his rise to a senior position in government. I want to understand him better and to understand the meaning of his statements.

Do you agree with me? Vote here. 
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Tan Kin Lian