Temasek outperforms equity market in 2008.
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Originally posted by charlize:
I keep wondering what prompted him to use the words "lesser mortals" .
When you are talking to people, do you even use such language?
It looks more like what Gandalf would say to Frodo in the LOTR.
At least Gandalf has an excuse....
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Originally posted by maxtor:
just curious, does temasek/ GIC own GLCs like DBS, Keppel Land, SMRT etc. ?
If so, their profits would be considered a gain to Temasek as well right ?
You cannot consolidate the accounts of a subsidiary, unless you own more than 50% of it. -
Eh ... MSCI index if its like STI index ... are made up of activites of the major stocks .. I may be wrong .. STI is made up of 20 most heavily traded stocks in the different sector. Jones is made up of 200 mix equities.
Since a major component is made up of banks and now the prices of banks are really in the shit .. Its typically not that difficult to outperform the index then .... But I guess its a comparison game to look good.
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Meaning if got control over financial and operating policies, but don't own 50% shares, don't need consolidate?
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Originally posted by soul_rage:
World indices lost 42% of value.
If Temasek lost only 41.9% of our total value, it's also considered outperform.
Yes, but i'm still surprised that they lost so little only. i thought they would lose more than that ... like maybe ... 60% ?
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Originally posted by shade343:
You cannot consolidate the accounts of a subsidiary, unless you own more than 50% of it.Thanks for the info. Is there anyway they (Temasek) can bolster up their accounts to make it look better ? i.e. make them look like they didn't lose so much?
Sale of assets maybe? like the power stations ?
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There's no point telling Singaporeans that Temasek and GIC outperformed the general indices. Anyway it's going to be hard to underperform the indices when it's down 42%, I am sure lots of Singaporeans outperformed the market without being paid millions to do so. Why don't they tell us the exact losses and let Singaporeans figure out whether it's a good or bad performance? By giving no clear information, one wonders what the Singapore government is trying to hide.
It's always the lack of transparency in good ol' Singapore... and we pay a lot for it!
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Originally posted by googoomuck:
WTF is this?
Jan 21, 2009PSA International, Singapore's port operator, is looking to borrow $1 billion for three years and has appointed DBS as arranger for the loan, according to Reuters Basis Point.
The proposed syndicated loan will be broken into two tranches and will be denominated in a mix of US dollars, Singapore dollars and Hong Kong dollars. A PSA spokesman declined to comment.
PSA operates 28 ports in 16 countries including China, India, South Korea and Vietnam.
DBS was not immediately available to comment. -- THOMSON REUTERS
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Originally posted by ShitSandwich:
There's no point telling Singaporeans that Temasek and GIC outperformed the general indices. Anyway it's going to be hard to underperform the indices when it's down 42%,
Not true. If you're invested 100% in US/ Europe financials, you'd be down 80% at this point in time.
And Temasek does have some money invested in financials, which is why I think their outperformance is something very queer indeed.
I am thinking, how are they able to manipulate their financial statements to come up with a 'better than expected' return on their portfolio.
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Originally posted by maxtor:
Not true. If you're invested 100% in US/ Europe financials, you'd be down 80% at this point in time.
And Temasek does have some money invested in financials, which is why I think their outperformance is something very queer indeed.
I am thinking, how are they able to manipulate their financial statements to come up with a 'better than expected' return on their portfolio.
figures and stats can be manipulated
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Originally posted by Ice Dive:
Eh ... MSCI index if its like STI index ... are made up of activites of the major stocks .. I may be wrong .. STI is made up of 20 most heavily traded stocks in the different sector. Jones is made up of 200 mix equities.
The DJIA is a price weighted index comprising of 30 blue chips.
I think the STI, a value weighted index has 50 stocks in the index.
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Originally posted by Fantagf:
figures and stats can be manipulated
I totally agree. Which is why I'm trying to find out how they can be manipulated. By the sale of the power stations perhaps ?
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Originally posted by maxtor:
I totally agree. Which is why I'm trying to find out how they can be manipulated. By the sale of the power stations perhaps ?
they have experts to do it for them. These I believe are genius in figures and stats -
Originally posted by Fantagf:
they have experts to do it for them. These I believe are genius in figures and statsBut not in investment ....
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Originally posted by maxtor:
But not in investment ....
they don't use their own money for investment, so no pinch and pain when making great, huge losses. -
Originally posted by Fantagf:
they don't use their own money for investment, so no pinch and pain when making great, huge losses.Exactly, which begs the question. Where did all these money come from? They say its not from CPF. Then where? A country doesn't come up with US$200B (est.) just from investment and surplus alone. Singapore has only been around for .. 50 years?
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Originally posted by maxtor:
Exactly, which begs the question. Where did all these money come from? They say its not from CPF. Then where? A country doesn't come up with US$200B (est.) just from investment and surplus alone. Singapore has only been around for .. 50 years?
Kind of fishy anyway. The political experts from Taiwan stated that Pay and Pay using our CPF for investment. Now they hard up for more $ in CPF. they advertised on Mobile TV to encourage people to transfer their money to special account and get higher interest rate. -
Originally posted by Fantagf:
they don't use their own money for investment, so no pinch and pain when making great, huge losses.Same thing with fund managers. I ever pop the question to them. How'd you sleep at night handling money of so many people?
They say, it's not my money, lose lose lor.
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Originally posted by Fantagf:
Kind of fishy anyway. The political experts from Taiwan stated that Pay and Pay using our CPF for investment. Now they hard up for more $ in CPF. they advertised on Mobile TV to encourage people to transfer their money to special account and get higher interest rate.Hahaha.......
Transfer then get stucked there for 50-60 years.
The interest rates there won't even offset the inflation rate.
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Originally posted by maurizio13:
Same thing with fund managers. I ever pop the question to them. How'd you sleep at night handling money of so many people?
They say, it's not my money, lose lose lor.
I believe it depends who their clients are. If they are the heavy weights like LKY, GOh CT, they will be very stressed. -
Originally posted by ShitSandwich:
There's no point telling Singaporeans that Temasek and GIC outperformed the general indices. Anyway it's going to be hard to underperform the indices when it's down 42%, I am sure lots of Singaporeans outperformed the market without being paid millions to do so. Why don't they tell us the exact losses and let Singaporeans figure out whether it's a good or bad performance? By giving no clear information, one wonders what the Singapore government is trying to hide.
It's always the lack of transparency in good ol' Singapore... and we pay a lot for it!
That is typically the trick of our govt, they dun let you hv the information so as to make singaporeans blur blur,..so, but, once a while they will let some information, most are those that are not doing well and need people taxes or reserve to support, those investment doing well are strictly confidential, same goes to those doing very badly, most will be labelled as bad debts or exordinary deficits. -
and whether it outperformed the broad market in the past especially during boom times.
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Cant even buy AIG in sinkapore and yet open the big gap 2 talk c!!!!
AIG in Taiwan had been bought over by us at such a cheap price of P/E .
Taiwan will be the first country to recover this year, hence, pls come here 2 invest and enjoy the fruit of oue success soon.
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Originally posted by Leeky:
Cant even buy AIG in sinkapore and yet open the big gap 2 talk c!!!!
AIG in Taiwan had been bought over by us at such a cheap price of P/E .
Taiwan will be the first country to recover this year, hence, pls come here 2 invest and enjoy the fruit of oue success soon.
Hopefully AIG gets nationalised next week
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Whatever it is, and however you look at it, in the end, I sincerely hope that all of us will survive and come out of this with the least pain as possible and as early as possible.