Temasek loses £150m on its July investment in Barclays
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since Ho Ching got married to Lau Lee's son, he became LeeChing... and has been leeching the coffers of Singapore ever since..
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Monday August 27, 3:41 PM
yea....more fark up to come
China Construction Bank holds 1.06 bln dlrs in subprime securities
China Construction Bank, the country's third largest lender, said Monday it held 1.06 billion dollar of securities backed by US subprime mortgages but added it will have limited impact on the group.
The lender said it has set aside 139 million yuan (18.3 million US) as provision for investments rated "AA" or above.
"These securities are expected to have limited impact on the group÷Õ operating results for the year," it said in a statement.
Last week, China's first and second-largest lender, Industrial and Commercial Bank of China (ICBC) and Bank of China (BOC), reported their holding of subprime-related mortgage-backed securities of 1.23 billion and 9.65 billion dollars, respectively.
The magnitude of BOC's exposure to the troubled US subprime mortgage market, where massive defaults have triggered a wider credit market crisis and roiled global financial markets, surprised the market.
Most analysts have estimated that BOC's subprime-related holdings amounted to between four billion and five billion US dollars. The news prompted them to slash their recommendations on the stock on concerns over a profit squeeze for the full financial year.
It also sent BOC shares down more than five percent last Friday although they have rebounded 3.36 percent to 4.0 dollars in mid-morning trade on Monday.
Meanwhile, China Construction Bank reported a 47 percent increase in net profit to 34.22 billion yuan in the six months to June on the back of a 37 percent increase in net interest income and a 102 percent surge in net fee and commission income.
The profit was in line with analysts estimate for a net profit of 32.31 to 35.65 billion yuan.
It said its net interest income rose to 89.21 billion yuan from 65.29 billion yuan a year earlier, while net fee and commission income more than doubled to 12.66 billion yuan from 6.27 billion a year earlier.
Interest income grew to 130.9 billion yuan from 100.48 billion yuan.
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Originally posted by the Bear:since Ho Ching got married to Lau Lee's son, he became LeeChing... and has been leeching the coffers of Singapore ever since..
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And Shareholders have no say in any acquisition? Oh Please...Originally posted by Gazelle:Optus was acquired by Singtel, why link it to Temasek? And btw, what is the problem with Optus acquisition?
The Optus acquisition was another overpaid acquisition. It might have returned dividends eventually, but it was overpriced. -
par for the course?
the MIW think the citizens have no say in anything eitherOriginally posted by Fingolfin_Noldor:And Shareholders have no say in any acquisition? Oh Please...
The Optus acquisition was another overpaid acquisition. It might have returned dividends eventually, but it was overpriced. -
Ultimately the CEO and CFO of Singtel will have to decide what sort of acquisition they want because Temasek are not telco experts and they cant advice Singtel what to buy and how much to buy.Originally posted by Fingolfin_Noldor:And Shareholders have no say in any acquisition? Oh Please...
The Optus acquisition was another overpaid acquisition. It might have returned dividends eventually, but it was overpriced. -
There's a reason why the beloved press of this regime is ranked 154th for press freedom, isn't there?Originally posted by Jontst78:ok just to ask a silly question....
Any news of this on the local media or press?
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the subprime saga causes global stocks to fall and Temasek paper loses in DBS bank is more than those from Barclay.Originally posted by walesa:There's a reason why the beloved press of this regime is ranked 154th for press freedom, isn't there?
If newspaper would to report all paper loses and gain everyday, the BT could weigh about 5kg by now. -
Originally posted by Atobe:
Good point, only idiots from China and Singapore would touch banks at a time when the sub prime crisis (that had been going on for ages) was ongoing. We will, like the NKF before the exposure, never know the truth.
Has Temasek suffered only paper losses, or have they bought themselves into a bank that is getting itself mired in quicksand of debts linked to the US financial crisis ?
Has [b]Temasek not learnt well, after paying huge sums in tuition fee when involved with DBS purchase of the Thai-Danu Bank - when even their ex-CEO claimed little diligence were made before committing to buy up the entire Thai bank ?
How much more will Temasek have to pay before somone actually will sit up to say - ''enough is enough'' ?
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Profiteering from Singaporeans to lose the money to foreigners, again. sheesh... blame the 666 people that voted them...
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The Truth? Who can handle the Truth ?Originally posted by AndrewPKYap:Good point, only idiots from China and Singapore would touch banks at a time when the sub prime crisis (that had been going on for ages) was ongoing. We will, like the NKF before the exposure, never know the truth.
Not that there is no Truth revealed, if the People does not demand for info, then why is there a need to reveal?
I think it always boils down to the People don't want to ask for anything.
Maybe they trust everything is right.
In that case, what can I say?
People People People, you are so so so. -
The Sheep do not know they are being led into the precipice until they have fallen into the precipice.Originally posted by reddressman:The Truth? Who can handle the Truth ?
Not that there is no Truth revealed, if the People does not demand for info, then why is there a need to reveal?
I think it always boils down to the People don't want to ask for anything.
Maybe they trust everything is right.
In that case, what can I say?
People People People, you are so so so. -
After they are fallen down, they will be too dead to know... luckily we keep our eyes open and make contingency plans... pity those dumb deaf and blinded.Originally posted by Fingolfin_Noldor:The Sheep do not know they are being led into the precipice until they have fallen into the precipice. -
time to vote out Ho Ching's wife and make her accountable... but keep the rest of the party's candidates in.
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I think the situation is so extreme that I still cannot believe it! Our People!Originally posted by AndrewPKYap:After they are fallen down, they will be too dead to know... luckily we keep our eyes open and make contingency plans... pity those dumb deaf and blinded.
1st world! Full Cooperation ! Without Fail! Everytime! No questions asked!
I strongly believe that a thesis should be written to explore and explain this kind of society behavior that is truely uniquely singpoare.
up to now, I still fail to understand why the majority of People think the way they think. -
If you consider how Hitler could do it, what they are doing in Singapore is not that amazing. The amazing thing is that they can keep on raising prices, take more and more and sleep at nightOriginally posted by LimSianTong:I think the situation is so extreme that I still cannot believe it! Our People!
1st world! Full Cooperation ! Without Fail! Everytime! No questions asked!
I strongly believe that a thesis should be written to explore and explain this kind of society behavior that is truely uniquely singpoare.
up to now, I still fail to understand why the majority of People think the way they think. -
The only way not to loss in biz is NEVER DO BIZ.
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If you lose money in Singapore, the losses stay here... and never do biz is not the answer... the answer is to let honorable people run the biz instead of cronies... the answer is to have many many divisions run by independent units instead of concentrating everything in the hands of cronies that get bonuses even with obvious failures again and again...
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1) Temasek doesnt run any business, they are only investorsOriginally posted by AndrewPKYap:If you lose money in Singapore, the losses stay here... and never do biz is not the answer... the answer is to let honorable people run the biz instead of cronies... the answer is to have many many divisions run by independent units instead of concentrating everything in the hands of cronies that get bonuses even with obvious failures again and again...
2) When you make money in Singapore, you make money from singapore and whiners like you will kpkb saying that government suck singaporeans dry
3) Even reputable companies like General Electric run by world top CEO has failed investment overseas.
If Biz is as simple as what you think, you would have been a millionaire by now, why waste your time in this forum? -
can i correct you!!!Originally posted by de_middle:dun worry, singapore is RICH
singaporeans are RICH and they can't access to their OWN HARD EARNED $$$ -
most stock prices drop last month. Since Temasek invested so much, of course it will loses a lot. But they will easily gain at least 50% of it back in the next few months, doing nothing. (when the market is back on track again)
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Well, the irony is, its a Brit newspaper reporting on the losses of a Singaporean GLC. While at the same time, have yet to hear a thing from a Singaporean mainstream media news channel or publication.Originally posted by Gazelle:the subprime saga causes global stocks to fall and Temasek paper loses in DBS bank is more than those from Barclay.
If newspaper would to report all paper loses and gain everyday, the BT could weigh about 5kg by now. -
and u think the local media would glorify the blunder of our ho ching?Originally posted by Jontst78:Well, the irony is, it a Brit newspaper reporting on the losses of a Singaporean GLC losses. While at the same time, have yet to hear a thing from a Singaporean mainstream media news channel or publication. -
how much do you know about Temasek HoldingsOriginally posted by Gazelle:Ultimately the CEO and CFO of Singtel will have to decide what sort of acquisition they want because Temasek are not telco experts and they cant advice Singtel what to buy and how much to buy.
How do u know they are no experts -
Just like nobody knows much about NKF under TT?Originally posted by de_middle:how much do you know about Temasek Holdings How do u know they are no experts