This article presents evidence from a case study of a particular state-owned, or public, enterprise in Singapore. The case history, together with the final analysis, attempts to ascertain any intrinsic advantages, disadvantages, or other differences in behavior and performance vis-à-vis private enterprise in the international petrochemicals business. The formation and progress of the Petrochemical Corporation of Singapore illustrate the competence of the Singapore government team and the value of the promotional, supportive presence of the government with regard to its enterprises. Organizational “culture” in public enterprise was enhanced by the role of the Singapore government.