Temasek Holdings to donate money overseas
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ST reported today that Temasek Holdings has donated S$ 500 million (ie half a BILLION) to set up a Temasek Foundation so that the latter can use those funds to play fairy-godmother and donate money to third world countries like Laos, Phillipines, etc. Is Temasek Holdings in a good financial position to do so? After given the black eyes in ABC Learning in Australia and Shin Corp in Thailand, the other heavy bets in the US subprime banks are still suffering during this fire-sale. Is Temasek Holdings is an investment company or a charity organisation. The Ministry of Finance should look into raising it's rate of lending funds to Temasek Holdings since the latter obviously doesnt even seem to need it. It can borrow CPF money at rates that are so cheap that it can go around and give it away for FREE. Meanwhile, senior citizens, who have been paid paltry interest over the years to their CPF savings dont even have enough in their CPF to retire and are encouraged to work "as long as they can". Do the people overseas need our money more than the poor among us?
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Nobody knows where the money actually goes.
If it were me, I probably divert to my own pocket through a series of complex subvention.
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Its like giving money to some one who is starving in a desert
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All the houses caught fire, but the owner is fetching water to douse the fire of the house opposite the river instead of his own house.
Makes one wonder if the owner has some mistress(es) lodged in those houses.
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a qns to TS.
do u know the real value of Temasek?
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Who is/are the trustee of this Temasek Foundation? Meaning who is/are controlling the funds ?
Another ploy to legally siphon off money elsewhere ?
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An honest politician is almost unheard of, except maybe P$P, Suharto, Kim Jong-il and Than Shwe.
These are all honest politicians.
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Originally posted by maurizio13:
An honest politician is almost unheard of, except maybe P$P, Suharto, Kim Jong-il and Than Shwe.
These are all honest politicians.
Not sure about Singapore law. but this kind of foundation comes with creditors protection?
Is Temasek Holdings is preparing to take a dip in the red sea soon ? Scary.
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Originally posted by maurizio13:
If it were me, I probably divert to my own pocket through a series of complex subvention.
Heheh...it'll help if you pass laws so that anyone who is suspicious of you needs to apply for a permit from you before he can hire a private investigator to check on you or your accomplices -
I thought charity should start at home. Another case of pay and pay "bending fingers outwards instead of inwards". Money comes easy to them that is why they just do whatever that pleases them without hesitation.
People, if you are not happy with the way Pay and Pay is running the country, do not vote for them.
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So much money moving around.
Who is keeping track?
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nobody really cares
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,I think all of us in overseas should come back 2 teach her a lesson,
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Beside taking into the account of the bad investment that you have said .. FYI .. I think Temasek has a very large involvement in local major companies from the start .....
If I rem correctly , its has a major stake in
- SIngtel , NOL , Media Crop , Singapore Technologies Semiconductor , STandard Chartered and much more. ..
And it has proven to be a solid foundation for them to grow afterall who but the govt link companies can tie business out through crisis or have the capacity to grow from SME to large enterprise.
Guess we people like to complain more than compliment . When they have such heavy involvement in local market , people say that they are monopolying around, but no one complain when NOL was growing and giving people jobs.
Is that how they get their funds , borrowing from minstry of finance at a charge?
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Originally posted by jojobeach:
Who is/are the trustee of this Temasek Foundation? Meaning who is/are controlling the funds ?
Another ploy to legally siphon off money elsewhere ?
Funds managed by Ho Chenginternal auditer Ho Cheng
External auditer Ho Cheng
Trustee Ho Cheng
Principal controller Ho Cheng
Chief Financial Officer Ho Cheng
Chief Executive Officer Ho Cheng
Director and Chairmanship Ho Cheng
Final Higher authority Approval .."the husband"
Well, a very well structured system indeed.
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Originally posted by Leeky:,
I think all of us in overseas should come back 2 teach her a lesson,
what lesson u r going to teach her, currently she got foreign talents to teach her, no need you lah -
Originally posted by charlize:
So much money moving around.
Who is keeping track?
SMRT is keeping the track, a part of temasek investment