ABC learning company collapsed: Temasak has 400m in it
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Originally posted by charlize:
Amazing how much money is being lost everyday for the past one year.
I am really scared for sg's future.
Haiz.
Now then scared?
A bit of history lesson....
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Originally posted by AndrewPKYap:
They want their salaries in line with "CEO of a big investment bank" but they want the job security of the Kims of North Korea and the pariah generals of Burma.
2 months ago one of my colleagues calculated that the losses SG had incurred by investing in Citigroup would help to offset ERP charges for all cars in singapore for 3 years, and that was when Citigroup was US$19-20.
Today Citigroup is below US$10....
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Originally posted by maxtor:
2 months ago one of my colleagues calculated that the losses SG had incurred by investing in Citigroup would help to offset ERP charges for all cars in singapore for 3 years, and that was when Citigroup was US$19-20.
Today Citigroup is below US$10....
Citibank's peak was at $55.
Now it's at $10.
80% drop in share price.
Damn.
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Originally posted by charlize:
Citibank's peak was at $55.
Now it's at $10
80% drop in share price.
Damn.
good buy
i suppose this is way cheaper than what GIC paid and if you live for another 30 years, you'll see your return -
nobody seems to need to take responsibility for such losses.
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http://inhome.rediff.com/money/2008/nov/10output-cut-by-auto-firms-hits-ancillaries.htm
Guess who invested $3 m in this company? Temasek, of course.
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This is strange!!!
How come lionnoisy the Anti-Australian never rant about this issue?
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who's taking responsibilty for this nonsense?
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Originally posted by naldinho:
who's taking responsibilty for this nonsense?
it's an honest mistake .. let's move on ...
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Some people will tell you to be thankful TH is investing the country's hard earned money into money losing entities.
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Originally posted by maurizio13:
This is strange!!!
How come lionnoisy the Anti-Australian never rant about this issue?
you want him to come in and tell you how the evil australia is make temasek lose our money ah?
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Originally posted by charlize:
Some people will tell you to be thankful TH is investing the country's hard earned money into money losing entities.
I wonder if the Big Ho does due diligence or it's pure punting.
Even if it's pure punting you still have chances to win, but seems like all her major investments are loss making, she must be a big jinx.
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Originally posted by naldinho:
who's taking responsibilty for this nonsense?
Nobody!
It's another honest mistake.
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This might be nitpicking but one of Temasek's biggest investments in India is in Bharti Airtel, a cellular service company.
The stock price is already 50% down since Temasek acquired 5% stake from Vodafone at a US$400 million premium.
http://www.bseindia.com/price_finder/stockreach.asp?scripcd=532454
Singtel already owned 32% in the company.
Of course Airtel is a profitmaking, valuable company, but with the BSE also down 50% in less than a year (8400 today vs 20,000+ in January 2008) it's difficult to see how and when Temasek can recoup its investment in this stock. Obviously they will have to wait for someone else with deep pockets and balls of steel to buy their stake, which is frankly a shot in the dark given the current economic climate.
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I've mentioned this before, but would like to reiterate: the distress sale of Lotus AMC, a Fullerton venture, also qualifies as a bigger turkey than people realize.
Firstly, the fund's assets under management tanked by S$750 million in 1 month, which actually forced the sale! Who the heck was managing the fund? Why were they so late to react? And most importantly, how much were they paid [fund managers in India are usually paid like PAP ministers:-)]?
Secondly, the fund managed to lose S$70 million in a fixed maturity plan, which is mind-boggling since these plans are deemed gilt-edged, rock solid, safer than bank FDs.
Thanks to the bungling, they had to sell the fund....which would have fetched S$100-120 million in normal circumstances. Instead, now they will not only have to transfer ownership of the assets, but pay about S$30 million to the "buyer" to guarantee future losses.
Truly a lesson in how not to invest public money.
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not invest then how to make more money........ not make more money then how to justify fat salary? No fat salary how to justify themselves as talents? Not talents how can justify we are SILLYPOREANS?
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Originally posted by maurizio13:
I wonder if the Big Ho does due diligence or it's pure punting.
Even if it's pure punting you still have chances to win, but seems like all her major investments are loss making, she must be a big jinx.
Hail Mdm Ho Ching, she feel the pain of the people, and did the honorable thing to cut her pay, You should thank Mdm Ho Ching for working so hard to come up with a diversified portfolio to generate income for the country and yet suffer the pain of pay-cut in silence, so that you people can enjoy her fruit of hard labour,
Hail, Hail, Hail Mdm Ho Ching (3 fold)
Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.
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Originally posted by maurizio13:
I wonder if the Big Ho does due diligence or it's pure punting.
Even if it's pure punting you still have chances to win, but seems like all her major investments are loss making, she must be a big jinx.
Hail Mdm Ho Ching, she feel the pain of the people, and did the honorable thing to cut her pay, You should thank Mdm Ho Ching for working so hard to come up with a diversified portfolio to generate income for the country and yet suffer the pain of pay-cut in silence, so that you people can enjoy her fruit of hard labour,
Hail, Hail, Hail Mdm Ho Ching (3 fold)
Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.
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Originally posted by siloti:
Hail Mdm Ho Ching, she feel the pain of the people, and did the honorable thing to cut her pay, You should thank Mdm Ho Ching for working so hard to come up with a diversified portfolio to generate income for the country and yet suffer the pain of pay-cut in silence, so that you people can enjoy her fruit of hard labour,
Hail, Hail, Hail Mdm Ho Ching (3 fold)
Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.
Since when my Uncle jumped ship ar??
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Now "Be thankful" is the next big thing after "Get out of my elite uncaring face" .
The list of catch phrases is getting longer.
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Originally posted by siloti:
Hail Mdm Ho Ching, she feel the pain of the people, and did the honorable thing to cut her pay, You should thank Mdm Ho Ching for working so hard to come up with a diversified portfolio to generate income for the country and yet suffer the pain of pay-cut in silence, so that you people can enjoy her fruit of hard labour,
Hail, Hail, Hail Mdm Ho Ching (3 fold)
Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.
so great of her to cut her pay, her hard labour and sacrifices so much for us, so to be thankful,
I think I should make a deity figurine of her to replace my Quan Yin Niang Niang
pray to her evryday so that she will not lose all our money
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Originally posted by siloti:
Hail Mdm Ho Ching, she feel the pain of the people, and did the honorable thing to cut her pay, You should thank Mdm Ho Ching for working so hard to come up with a diversified portfolio to generate income for the country and yet suffer the pain of pay-cut in silence, so that you people can enjoy her fruit of hard labour,
Hail, Hail, Hail Mdm Ho Ching (3 fold)
Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.
With all the major overseas investment losses, I am surprised that an honourable person would just take a pay cut, also not forgetting that Singapore is in a recession. Frankly, any honourable person would have just taken responsibility and resign his/her post, but then again this is Singapore, where politicians and politician's wife thriving on cronyism would just sweep their mistakes under the carpet and continue their excessive salaries. If this were a private investment corporation, her head would have been long ago guillotined. Ask yourself, what kind of qualification does she have to make her a CEO of a large investment company? Her position was obtained because she was the wife of the PM and nothing else.
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Originally posted by maurizio13:
With all the major overseas investment losses, I am surprised that an honourable person would just take a pay cut, also not forgetting that Singapore is in a recession. Frankly, any honourable person would have just taken responsibility and resign his/her post, but then again this is Singapore, where politicians and politician's wife thriving on cronyism would just sweep their mistakes under the carpet and continue their excessive salaries. If this were a private investment corporation, her head would have been long ago guillotined. Ask yourself, what kind of qualification does she have to make her a CEO of a large investment company? Her position was obtained because she was the wife of the PM and nothing else.
Her qualification lies in her Certificate of Marriage. Nobody in singapore can attain that certificate, not even doctorate can make it, so dun play play -
Originally posted by youyayu:
no body made noise when they make profits..
but all kpkb once they lost
They make profit also mei wo men de fen so how does it concern us?