Temasek Holdings investing S$10 billion into Chinese Banks
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The mother of all the GLCs is investing around S$10 billion to buy Chinese Bank stocks. That's almost every Singaporean paying roughly S$3333 for those stocks in average.
In details, the Banks that got Temasek's golden finger are:
1) Bank of China, No2 Bank in China, 3.1 Billion USD for 10% share, with another USD 500 million when the bank got listed.
2) China Construction Bank, No 3 chinese Bank, Temasek's total investment in this bank can be maximum @ USD 2.4 billion if the bank listed.
3). some around 5% stock in Chinese Huaxia Bank and stocks in an Energy company.
That's quite impressive, considering the Singapore is not a big country.
I'm regret such a big issue seems not catch enough attention. Any comments? -
The chinaman will probably going to cheat s'pre very badly and run away with the money. Wait and see, like i said one chinese will backstab another. That is the chinese thinking - Money hungry
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thats why we have a proud tradition of commerce.Originally posted by About A GaL:The chinaman will probably going to cheat s'pre very badly and run away with the money. Wait and see, like i said one chinese will backstab another. That is the chinese thinking - Money hungry
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Why chinese so mercenary?Originally posted by About A GaL:The chinaman will probably going to cheat s'pre very badly and run away with the money. Wait and see, like i said one chinese will backstab another. That is the chinese thinking - Money hungry
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I have this to say about this; God bless us all!
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China share have to be careful.. Accounting fantastic, even some of our local co
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Chinaman companies ar eknown for frauds and scams. Gd luck to the brainless elites
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Let me be really rudeOriginally posted by shade343:Why chinese so mercenary?
Chinks like myself have no care for anyone but oneself.
There is a saying:
Ren Xin hai Shi Ge Zhe Yi Chen Du Pi
translation:
The stomach comes before the heart. -
Just in case everyone forgets, LKY, LKL and Dr Tony Tan are all on the board of GIC (Government Investment Corp of Singapore). LKY is the Chairman of the board.Originally posted by About A GaL:Chinaman companies ar eknown for frauds and scams. Gd luck to the brainless elites -
explains for the lack of any transparencyOriginally posted by Cindyfeh:Just in case everyone forgets, LKY, LKL and Dr Tony Tan are all on the board of GIC (Government Investment Corp of Singapore). LKY is the Chairman of the board. -
Yesterday's Today reported Dr Tan regards GIC's performance over the years as "respectable, above average".
What is above average? Above 2.5% returns per year?
Is it to pre-empt the public of certain things to come?
To me that "respectable, above average" phase don't sound too good...
How do you interprete it?
http://www.todayonline.com/articles/69873.asp -
Put it this way. Temasek is supposedly very good at uncovering hidden Gems. So if they invest 10 billion in China, it obviously means that there is good potential there. Perhaps in 10 years time, They will reap a profit of more than 2 times their investments...High risk high yield.
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er.. what gems did Temasek or GIC uncovered previously? I can't remember any.Originally posted by shade343:Put it this way. Temasek is supposedly very good at uncovering hidden Gems. So if they invest 10 billion in China, it obviously means that there is good potential there. Perhaps in 10 years time, They will reap a profit of more than 2 times their investments...High risk high yield. -
years back ... a friend from gic told me there were a lot of investments that turned bad and tons of our tax dollar were wasted but gic continued their lavish lifestyle, parties ... etc. she could not take it and never joint those "celebrations"Originally posted by Cindyfeh:Yesterday's Today reported Dr Tan regards GIC's performance over the years as "respectable, above average".
What is above average? Above 2.5% returns per year?
Is it to pre-empt the public of certain things to come?
To me that "respectable, above average" phase don't sound too good...
How do you interprete it?
http://www.todayonline.com/articles/69873.asp
anyways there are no checks on this org. There are lots of governance issues all over in ever single corner but no a single squeak in the papers - just the collusion and nepotism is enough and then the NKF saga...
What does it tell us all the common people about things happening at the top?
I do not know to laff or cry for my fellow people because I feel so sad when I see things and know there's more than meets the eye. -
Anyone remember suzhou industrial park? This is part 2 in the making. Then the gahmen will have to squeeze us further to make up the shortfall.
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What, IR opened already? becoz I c gambling activities, and what, play so big? WhoÂ’s the 1, Oh, SÂ’poreÂ’s 1st family, No wonderÂ…
With S$6 Billion worth eggs put in the Blanket of China(BOC). The BOC is effectively 2nd biggest Singaporean hold Bank after DBS ( If we still count all the TemasekÂ’s money belong to Singaporean).
So, weÂ’d b glad to c TemasekÂ’s boss Madam HC being nominated CEO of BOC Singapore Branch( Or maybe called Party General Secretary
of Singapore Branch)
Then next step, itÂ’s GovÂ’s call to put all the deposit into BOC Singapore branch. Anyway, ur money already sunk into it.
Finally, of course, the BOC white-colored building in Raffles Place will be allowed re-built to b as high as UOB-OUB.
A bit joking lahÂ…
BUT NO BAD WORDS HERE, I LIKE GAMBLING ANYWAY, TO TELL YOU A SECRET: I INVESTED A CHINA-LINKED FUND WITH MY CPF ORDINARY ACCOUNT, WITHIN 2 MONTHES, THE FUND SHOT UP 21%.
JUST C HOW GOOD THE PLAYER IS ! -
Banks have been known to be well versed in "accounting practices". If GIC dont do checks, they will be doomed. China is not a country like S'pore.
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If it is indeed hidden values in chinese banks, you can bet others in Asia, i.e. astute businesses/bankers from Japanese or Hong Kong will beat us to invest. History will repeat itself!
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See majority of China shares in SGX, accounts got taiji oneOriginally posted by Love Story:Banks have been known to be well versed in "accounting practices". If GIC dont do checks, they will be doomed. China is not a country like S'pore. -
Exactly. Why is the vnenture only exclusive to S'pore? or are there any hidden agendas?Originally posted by 3Rabbits:If it is indeed hidden values in chinese banks, you can bet others in Asia, i.e. astute businesses/bankers from Japanese or Hong Kong will beat us to invest. History will repeat itself!
Anyway how do we know that the money is an investment and not transferrng of funds to foreign banks for reasons unknown but yet suspicious.
Something is happening? Is the key to the reserves being misused? -
This's what UK's Financial Times has said:
Temasek gambles on China
Ho Ching, chief executive of Temasek Holdings, SingaporeÂ’s state investment company, is in the middle of the biggest gamble since she took over in 2002 - a proposed investment of up to US$ 6billion in two large Chinese state-owned banks.
Temasek has suddenly emerged as the leading foreign investor in ChinaÂ’s financial sector, buying a stake in Bank of China and pledging to buy a minority holding in China Construction Bank, the second and third biggest banks
http://news.ft.com/cms/s/99220e12-1b00-11da-a117-00000e2511c8.html -
Here's another report from bloomberg on Temasek's investment in another bank--China Construction Bank:
Temasek to Invest $2.4 Bln in China Construction, People Say
For full report:
http://www.bloomberg.com/apps/news?pid=10000080&sid=aHNtgaJQ4hEc&refer=asia
Some extractions from the lenghty report:
1)Temasek wants to boost returns that averaged 3 percent in the past decade by investing in China's $1.65 trillion economy, which is 15 times the size of Singapore's. European and U.S. banks spent more than $6 billion buying stakes in China's lenders since 2003 to tap an economy that's grown an average 9.5 percent during the past two decades and where savings also total $1.65 trillion
2)Temasek offered to buy $1.4 billion of stock in China's China Construction Bank---the third-largest bank before an initial public offering in October, said the people, who declined to be identified. Construction Bank, based in Beijing, last month said Temasek would invest $1 billion in the IPO. Total amount is 2.4 Billion USD
3)Temasek owns 28 percent of DBS Group Holdings Ltd.
From the 3rd point, I checked today's straits times, today's DBS Market Cap. is around 24 Billion Sing Dollar. 24 X 28%= 6.7 Billion S$
Which means actually, Temasek's stock value in Bank of China will be roughly the same as its holding in DBS!
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Originally posted by 38�Ž:
"Yesterday's Today reported Dr Tan regards GIC's performance over the years as "respectable, above average". "
1)Temasek wants to boost returns that averaged 3 percent in the past decade by investing in China's $1.65 trillion economy, [/b]
3% returns in the past decade? Wow! Very impressive sia! Perhaps thats the rate Dr Tan was talking about.
GIC/Temasek should sack everyone and buy SPIDERs or ETFs of different foreign stock exchanges that give better returns than a Singapore-class 3%.
http://finance.yahoo.com/q/bc?s=%5EIXIC&t=my -
She interested in banks but not in ReiT..
Contradicting.. She also want fast short term returns -
remember nick leeson and Barings, it all happened in S'pore!! one of the major investment failure of GIC was buying of the american electronic company. Now, Singaporean companies, including GIC are buying up banks in Indonesia, Thailand.....all over the place, our problem remains, who are checking GIC??Originally posted by Love Story:Banks have been known to be well versed in "accounting practices". If GIC dont do checks, they will be doomed. China is not a country like S'pore.