Why no questions in Parliment on Shin Corp deal?
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Based on the events in Thailand, there has been clear Thai political and local opposition to Temaseks investment in Shin Corp. What guarantee is there now that Temaseks $3billion investment and its future returns on Shin Corporation will continue to be profitable? It seems to me that we can kiss our $3billion investment goodbye.
It was pretty clear from the outset that Shin Corporation was a politically linked company. It amazed me that Thaksin was able to raise foreign investment in Thai Telco's overnight just to allow the deal to go through. Any shrewed investment banker would have seen the potential political fallout. We should have paid Thaksin in stages not all the money at one go. Did Temasek go wrong on the due dillegence on Shin Corp. Who, in Temasek holdings, is going to be held responsible for the $3billion loss in Shin Corp?
Has any MP in parliment raised any questions or debated on Temaseks investment in Shin Corp? $3billion is a large amount of taxpayers money at the end of the day. -
One should remember that humans tend to forget things quickly. After this election hoo hah in thailand is over, the people will go back to their daily lives. So dont pre judge the deal just because of some protestors.
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Who will dare question the PM's wife?
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just as singaporeans will never forget the NKF saga, do we really think the Thais are going to forget about Shin Corp?Originally posted by shade343:One should remember that humans tend to forget things quickly. After this election hoo hah in thailand is over, the people will go back to their daily lives. So dont pre judge the deal just because of some protestors. -
remembering it and doing something about it are two matters altogether.
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An autocracy is run in this manner - every one takes a certain cue from utterences of great supremo and dare not ask thorny or difficult question.
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even the media reported that sia areoplane and merlion effigy were burnt but did not acknowledged the rest of the items burnt.
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i strongly feel that there should be a debate in parliament on the Shin Corp deal among MPs. I am sure many Singaporeans are wondering if Temaseks investment of $3billion is safe as it involves tax payers money.
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well, according to this blog we lost alot of money in the past week...http://singaporeelection.blogspot.com/
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Temasek had performed poorly except in converting government services to GLCs and set higher fees in monopolices to squeeze greater profits.
When it comes to technologies, all the technology acquisitions from Micropolis to CSM, from Global Crossing to DBS Daoheng bank acquisitions, from souzhou township to Bangalore developments, few had done well. With so many flops, in their records, they might as well pull back our monies and invest locally where SMEs require great help to start new technology companies. How to justify investing our monies in more overseas ventures with so many poor records. Do we have one good man so far in such area to let the people trust him in making good investment decisions. If we do not have men at Temasek to have abilities of this nature, and who could lead with shrewd judgments proven on past successes, citizens will find it hard to trust their big forays into Global Crossing again or Shin Corp as decisions on emotional factor like getting bigger ports and bigger companies will never work. -
Why no questions?
Standard reply:
The Singapore embassy has said the deal is not a government to government one, and the Singapore government does not interfere in Temasek's private business decisions.
Not related lah, that's why no questions.
Don't be idiots like the Thais.
So what it Temasek fools around the loopholes in the laws of Thailand?
No crime okay, like NKF Durai, no crime lah!
We are smart people here okay, led by world class leaders who are above corruption hor! -
Debating or questioning any decisions in the Parliament is often redundent when everything has already been decided. There is just nothing you can do about it.
Casino anyone? -
Temasek paid 49.25 bahts per share. Shin Corp share is currently trading at 37 baht per share. In other words Shin Corp is currently worth alot more less than what Temasek originally paid for. In a short span of 2 months Temasek has taken a hit of millions in the market capitalisation of Shin Corp. So who is answerable in Temasek for all this losses? Remember Temasek used taxpayers money to buy out Shin Corp. I think Singaporeans generally deserve an explanation as to what is going on with our investment in Shin Corp.
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Originally posted by gill_hfc:
Later the price go to 60 baht leh?
Temasek paid 49.25 bahts per share. Shin Corp share is currently trading at 37 baht per share. [b]In other words Shin Corp is currently worth alot more less than what Temasek originally paid for. In a short span of 2 months Temasek has taken a hit of millions in the market capitalisation of Shin Corp. So who is answerable in Temasek for all this losses? Remember Temasek used taxpayers money to buy out Shin Corp. I think Singaporeans generally deserve an explanation as to what is going on with our investment in Shin Corp.[/b]
Why you never mention Temasek sell SMRT for $1.19? Or buy NOL at $2.80? -
Originally posted by gill_hfc:
Do you think they are interested to answer to the public?
Temasek paid 49.25 bahts per share. Shin Corp share is currently trading at 37 baht per share. [b]In other words Shin Corp is currently worth alot more less than what Temasek originally paid for. In a short span of 2 months Temasek has taken a hit of millions in the market capitalisation of Shin Corp. So who is answerable in Temasek for all this losses? Remember Temasek used taxpayers money to buy out Shin Corp. I think Singaporeans generally deserve an explanation as to what is going on with our investment in Shin Corp.[/b] -
dont u know, all dirty business love losing company $$$.
lost more $$$ in investment mean GOOD. A good excuse to divide/transfer the looted $$$. hehehe -
Originally posted by gill_hfc:
It seems that the 'tuition fee' that was paid for MICROPOLIS - to the tune of $500 Million - was not well learnt.
Temasek paid 49.25 bahts per share. Shin Corp share is currently trading at 37 baht per share. [b]In other words Shin Corp is currently worth alot more less than what Temasek originally paid for. In a short span of 2 months Temasek has taken a hit of millions in the market capitalisation of Shin Corp. So who is answerable in Temasek for all this losses? Remember Temasek used taxpayers money to buy out Shin Corp. I think Singaporeans generally deserve an explanation as to what is going on with our investment in Shin Corp.[/b]
There were losses also with the aquisition of Thai Danu Bank; which the ex-CEO of DBS had said there was a failure in 'due diligence' prior to the take-over.
Is it unfortunate that only those who are out of Parliament has the courage to " voice the concerns " on behalf of the Public ? -
and you think you are gonna get answers?
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Ask all u want lah.. basically SHin Corp is doomed.... unless Temasex rebrands it.
Thai people are not like most others. They Kinda hold on to their values quite a bit. So if they bycott then i believe its for good lah -
Politics is a tricky buisness. Look at JBJ how many times has he been jail for criticising the gov and their policy, though some time he does step over the line.
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Funny u say that...i just makes me wonder when singaporeans are ever gonna stand up for themselves. Are we gonna lay back and assume the govt has our best interests at heart. Is it not innate human nature to be self serving. When do we get to question the people that govern us and when do we get full transperancy? Or is singapore the perfect example that Democracy's final outcome?Originally posted by NewAge:Politics is a tricky buisness. Look at JBJ how many times has he been jail for criticising the gov and their policy, though some time he does step over the line.
Fear wields power. To tell u frankly we are all terrified of our goverment. We know they can make us dissapear, or destroy our lives in an instant as with JBJ and DR Chee.
We fear what might become of our country in the hands of someone else....(I must commend Our MM Lee on an excelent job bringing singapore to where it is.) However.. times are not as they were do we really believe that the current govt can serve us best? Perhaps not. Perhaps we do. For those with doubt, do we dare question? Or can we only whine....
I urge the goverment to assure its people thet they are free to speak, if they are truely serious about getting public opinion.
I think a free speech bill should be passed in parliment.
I think its uncalled for to sue someone to death for somtthing they said. If there is no truth in slander, the goverment should present its facts and discredit it and pay no heed to it. The goverment would gain the respect of its people.