NTUC China Hypermart venture lost up to $80 million?
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Debt are considered amt owing to the creditors...Originally posted by shade343:Oh. $80million in debt is not a loss?
Loss is ka ki jiak (Ownself bear) -
Of course not widely reported lah.Originally posted by reyes:indeed, what the GM of NTUC said to business times is a joke to all those who know business. how can millions be invested in a business especially with NTUC specialty and it doesnt get involves in day to day operations? are NTUC jumping into supposely rich bandwagon without doing propoer research.
guess what, these so call top executives head will not be roll. only the ppl that paid for their subscription fees are being cheated.
by the way, is this reported on the channel news asia?? or any news channel? because i dont heard about it.
If you lost so much money, would you like your name splashed across the local media detailing your losses? -
Now I know why NTUC Supermarket prices are much higher than before.
Now I know why many government-linked businesses have high prices.
Coz they're dabbling in foreign investments and we're made to pay for their "tuition" fee (AND losses).
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Looks more like you don't know what you rae talking abt when it coimes to NTUC.Originally posted by sbst275:Even if it is not, all these are considered Utilities to the ppl -
Dun say our government until like that lah.Originally posted by macjoe:Now I know why NTUC Supermarket prices are much higher than before.
Now I know why many government-linked businesses have high prices.
Coz they're dabbling in foreign investments and we're made to pay for their "tuition" fee (AND losses).
They create jobs for us with the IR, you know. -
Woohoo.Originally posted by Salman:Looks more like you don't know what you rae talking abt when it coimes to NTUC.
Sbst vs Salman.
Fight, fight. -
If you want to tap the vast China market, there will be high risks because of the nature of the market. NTUC, like many companies all over the world got burnt with tuition fees in China too. Its reality. -
of course you know better. you are afterall who we know you are.Originally posted by Salman:Looks more like you don't know what you rae talking abt when it coimes to NTUC. -
They(gov) are more keen to create golden chair for their own ass.Originally posted by charlize:Dun say our government until like that lah.
They create jobs for us with the IR, you know. -
I say again.Originally posted by Lowclassman:They(gov) are more keen to create golden chair for their own ass.
Dun say our government until like that lah. -
i agree lei...the part about ntuc getting expensive...Originally posted by macjoe:Now I know why NTUC Supermarket prices are much higher than before.
Now I know why many government-linked businesses have high prices.
Coz they're dabbling in foreign investments and we're made to pay for their "tuition" fee (AND losses).
i mean they r a cooperative, meant to serve the common man, setting up fairprice was supposed to be a unified efforts to bring down pricing and keep grocery affordable and convenient...
they have achieved their aim... they are so conveniently located...eaten up all the local mart and so now they control the pricing... they aren't cheap u know.... -
Temasek is gonna sink billions in China. Since it's a business deal and the risk is there that you may lose money.
it's neve too late to wall in the sheeps, maybe you guys can lobby s'pore government to stop the deal.
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http://www.forbes.com/finance/feeds/afx/2005/12/26/afx2414903.html
AFX News Limited
Singapore's Temasek to pay higher price for Bank of China stock-report
12.26.2005, 11:40 PM
BEIJING (AFX) - Singapore's Temasek Holdings will pay a higher price for 25 pct of its 2 bln usd investment in Bank of China, the South China Morning Post said, citing sources.
The Hong Kong newspaper said that under a revised pact, aimed at deflecting domestic criticism that the shares are being sold at too low a price, the Singapore government-backed investment company will be permitted to buy five pct of China's second-largest commercial lender for 1.5 bln usd.
These will be new shares but purchased before the bank makes its initial public offer in Hong Kong next year.
Temasek will then pay another 500 mln usd for additional shares at the time of the IPO, the report said. Those shares will be at a significantly higher price.
Caijing magazine reported yesterday that the Bank of China's main shareholder, Central Huijin Investment, had agreed to a revised formula whereby Temasek will be allowed to buy a five pct stake instead of 10 pct as originally planned. The original deal called for Temasek to pay 3.1 bln usd at 1.2 times the lender's book value with half of the shares bought from Central Huijin and half new shares issued by the bank.
The revised deal was approved by the State Council, or cabinet, last week, according to the newspaper.
Central Huijin had opposed the original deal out of concern that Temasek might gain too much influence over the domestic banking sector. It also may have been reacting to the domestic criticism over the price paid by Temasek.
Temasek also owns more than five pct of China Construction Bank.
[email protected] -
i buy toiletries from small medical shops. ntuc prices are way too high.Originally posted by fire & ice:i agree lei...the part about ntuc getting expensive...
i mean they r a cooperative, meant to serve the common man, setting up fairprice was supposed to be a unified efforts to bring down pricing and keep grocery affordable and convenient...
they have achieved their aim... they are so conveniently located...eaten up all the local mart and so now they control the pricing... they aren't cheap u know.... -
Dear Salma,
That is an over statement.
When you pay "tuition fees", you get something in return... lessons and getting wiser.
But in this case, it is just throwing money into the venture without learning anything from the whole business! No lesson on how to deal with the Chinese, no lesson on how to deal with the Chinese local authorities, no lesson on how to deal with big sharks and crocodiles... zero. Basically, NTUC only learn one stupid lesson, never just throw money into a JV without knowing how it is being run! Millions of dollars for such simple, intuitive and common sensical logic? I am speechless.
Goh Meng SengOriginally posted by Salman:If you want to tap the vast China market, there will be high risks because of the nature of the market. NTUC, like many companies all over the world got burnt with tuition fees in China too. Its reality. -
I shop for household items weekly. And I compare prices among different groups. Currently, Fairprice's prices across the board are competitive to other chains.
Do shop around and compare prices. You may be surprised that 'chains' that profess to have lower prices are not so.
Check Fairprice, Cold Storage, Shop N Save, Sheng Siong, Prime ... etc. -
That 5% or add 2% disc for Snr Citizen, all these 'disc' have been added into the costOriginally posted by dragg:i buy toiletries from small medical shops. ntuc prices are way too high.
It is just that majority of Singaporeans listens to Govt...
And if ppl think they know lots, then reveal how much each govt related co earn (For utilities) and make comparison... -
Another thing, support the dying provision shops...
Once they are gone, no more the days when you can just go doiwnstairs and buy provisions -
I quote from sbs275 "Even so, out of bus co, rail operators, TV stn, they make the most profit".Originally posted by Salman:Is NTUC in the bus, rail and TV station business?
What he is simply saying is that of the many govt monopolies (or near monopolies), NTUC makes the most money. pretty simple statement isn't it? -
i feel it is inevitable.
just look the number of malls they are building and you know they are trying to kill the shophouses. -
sbs275 does make sense actually. bus and rail are daily necessities, NTUC sells daily necessities. the similarity can't be further ...Originally posted by Salman:Looks more like you don't know what you rae talking abt when it coimes to NTUC. -
someone here mentioned that carrefour didn't get burnt. so not everyone gets burnt, only the stupid ones. but why stupid? when you are protected and you don't have to compete, how are you ever going to learn to compete in the real world out there?Originally posted by Salman:If you want to tap the vast China market, there will be high risks because of the nature of the market. NTUC, like many companies all over the world got burnt with tuition fees in China too. Its reality. -
Thats why they need to learn.
How much tuition fees did Carrefour pay? Nobody knows. -
Since when Carrefour have been protected?Originally posted by Salman:Thats why they need to learn.
How much tuition fees did Carrefour pay? Nobody knows.
And the reason why Cold Storage and all can still survive though NTUC tries to push to a monopoly is because their parent, DFI deals with free market like in Hong Kong...
They can save the tuition fee... -
they can learn all they want as long as it is not out of the pockets of us common people. yes we might not know so it can even be less. but one thing we do know, they made it while we didn't.Originally posted by Salman:Thats why they need to learn.
How much tuition fees did Carrefour pay? Nobody knows. -
You can do better for the people?
BTW NTUC does not hold your money.