Fortune magazine says Ho Ching made spectacular misjudgment
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Why the foreign press report so differently from Singapore's press?
(Fortune Magazine) -- If there's such a thing as the right way to topple a democratically elected government, then Thailand's generals might be just the strongmen to teach that lesson. After they moved against Prime Minister Thaksin Shinawatra on Sept. 19, there was no bloodshed, only a brief wobble for the Thai baht and the stock market, and lots of celebratory street parties. Soldiers were showered with pink roses. The perfunctory media takeover resulted in radio stations playing easy-listening tracks instead of martial music- though coup leader Gen. Sonthi Boonyaratglin drew the line at the scantily clad go-go dancers sponsored by a Bangkok radio station to entertain bored troops guarding strategic installations.
The junta even managed to open Bangkok's new airport ten days later - with only a few bags lost in transition. Thaksin watched his swift demise on TV from New York City, where he was preparing to address the United Nations, his fate sealed when Thailand's much-loved King Bhumipol gave the junta his imprimatur. The billionaire former cop caved in with barely a whimper, then exiled himself to his luxury London flat. He won't have to worry much about London's expensive prices. It was the controversial $4 billion tax-free sale in January of his telecommunications and TV company, Shin Corp., to the Singapore government's Temasek Holdings that sparked the Thai turmoil that ultimately led to the coup.
It turned out to be a spectacular misjudgment for the normally careful Temasek CEO, Ho Ching, wife of Singapore Prime Minister Lee Hsien Loong. Shin shares have fallen 43% since the deal was signed, and Temasek will now endure a potentially embarrassing probe by the new regime into Thaksin's finances that threatens asset seizures, deal cancellation, and large fines. Smooth as silk for Thailand perhaps, but rather less so for Singapore Inc
http://money.cnn.com/magazines/fortune/fortune_archive/2006/10/16/8390330/index.htm -
I think Fortune might get ban.......
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Ostrich Ho Ching is still 'optimistic' leh......
In the civil service, she would have been given a 'D' grade.........with no performance bonus expected. With 2 'D' gradings, she could be sacked.....
but then the KPI at Temasek may not be applicable to the dragon lady.......in spite of everything, not a word of regret from her.......skin very thick ..... -
Those of you who subscribe to Fortune better cancel your subscription before the govt does it for you.
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Actually I did feel the political aspect was a little bit misjudged.
Apart from nationalistic sentiments and anti foreign control sentiments, which is a big issue in itself, Thaksin was also under many problems, some Thais say he was dividing the country with his harsh South Thai clampdown, cronyism, meddling with military, etc many issues. Actually he was quite problematic and the Shin Corp sale was just the latest trigger. Similar like Chen Suay Bian of Taiwan, he was a divisive leader, and that political situation was something which probably did not get anticipated very well by Temasek and it got blindsided and surprised. -
pun intended?Originally posted by #$%^&*:Actually I did feel the political aspect was a little bit misjudged.
Apart from nationalistic sentiments and anti foreign control sentiments, which is a big issue in itself, Thaksin was also under many problems, some Thais say he was dividing the country with his harsh South Thai clampdown, cronyism, meddling with military, etc many issues. Actually he was quite problematic and the Shin Corp sale was just the latest trigger. Similar like Chen Suay Bian of Taiwan, he was a divisive leader, and that political situation was something which probably did not get anticipated very well by Temasek and it got blindsided and surprised. -
politics aside.. Temasek did broke the law by secretly acquiring more than 49% of shin corp.. wat say you?Originally posted by #$%^&*:Actually I did feel the political aspect was a little bit misjudged.
Apart from nationalistic sentiments and anti foreign control sentiments, which is a big issue in itself, Thaksin was also under many problems, some Thais say he was dividing the country with his harsh South Thai clampdown, cronyism, meddling with military, etc many issues. Actually he was quite problematic and the Shin Corp sale was just the latest trigger. Similar like Chen Suay Bian of Taiwan, he was a divisive leader, and that political situation was something which probably did not get anticipated very well by Temasek and it got blindsided and surprised.
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When the prime minister's wife has her own backside to take care of from the law, who to cover up this glaring transgression? LHL lor. No even better, LKY...Originally posted by 4getmenot:politics aside.. Temasek did broke the law by secretly acquiring more than 49% of shin corp.. wat say you?
So much for non-corruption practices...maybe CPIB should give a visit to HC and ask what on earth was she doing using people's hard earned cash (this one i live it to you all what kind of cash they using) for failed investments...and her track record is well...anything but brilliant in investments...
Anti corruption? i dunno lah... -
Originally posted by Wakus:
The CPIB reports directly to the PM and no other branch of government has any control over it.
When the prime minister's wife has her own backside to take care of from the law, who to cover up this glaring transgression? LHL lor. No even better, LKY...
So much for non-corruption practices...maybe CPIB should give a visit to HC and ask what on earth was she doing using people's hard earned cash (this one i live it to you all what kind of cash they using) for failed investments...and her track record is well...anything but brilliant in investments...
Anti corruption? i dunno lah...
Will the PM let CPIB investigate his wife's clear involvement with this Shin Corp disaster ?
Professionalism and diligence were clearly lacking in a deal of this magnitude that involve S$3 BILLION. -
In any other organisation, a loss of this magnitude will call for the immediate removal and disgrace of the person.
Only in 'meritocratic' Singapore can we find such policies to support the 'champions' of the country.
I repeat. Why isn't she removed? The Shin Corp saga is her fault directly. She should be made responsible and pay whatever sum lost to the people of Singapore. -
Tuition Fees hor.
Who say one ah -
First time I see the words "spectacular misjudgement" being used together.
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it is apt tho'...
i mean, 3 billion.. that's like.. a GDP of a banana republic!Originally posted by charlize:First time I see the words "spectacular misjudgement" being used together. -
then we will be left with 8 days, U and I magazinesOriginally posted by Hogzilla:I think Fortune might get ban....... -
wah...do i see a defamation lawsuit breeming? If there is no lawsuit, meaning whatever the magazine wrote is true? Oh no.....
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This phrase says it all.Originally posted by charlize:First time I see the words "spectacular misjudgement" being used together. -
Fortune magazine is going to get sued and banned from Singapore
Even though their article hit the nail on the head.
Gee, anybody ever wonder why Singapore gahmen's attempts to make Singapore into a news and media hub years ago failed miserably? -
how to sue
when it is true?
whose knuckles to rap
when it's so apt?Originally posted by red_amoeba:wah...do i see a defamation lawsuit breeming? If there is no lawsuit, meaning whatever the magazine wrote is true? Oh no..... -
I'd like to see them ban CNN..Originally posted by av98m:Fortune magazine is going to get sued and banned from Singapore
Even though their article hit the nail on the head.
Gee, anybody ever wonder why Singapore gahmen's attempts to make Singapore into a news and media hub years ago failed miserably? -
maybe they will pass a new law just to sue fortune
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One lesser news source.Originally posted by LazerLordz:I'd like to see them ban CNN.. -
Trust me, all they want is the demise of google and yahoo!.
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can be hub.. macam our IR...
foreigners can waltz in.. locals kena scrutinised.. and probably stopped from doing or reading stuffOriginally posted by av98m:Fortune magazine is going to get sued and banned from Singapore
Even though their article hit the nail on the head.
Gee, anybody ever wonder why Singapore gahmen's attempts to make Singapore into a news and media hub years ago failed miserably? -
as with CNN,Originally posted by ditzy:Trust me, all they want is the demise of google and yahoo!.
I have three words, "Tan Ku Ku"
The truth will surface one day.
And it won't be pretty. -
become communist & shut out of the world totallyOriginally posted by ditzy:Trust me, all they want is the demise of google and yahoo!.