Ho Ching to leave Temasek Holdings
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Rumours early early this morning have liao. MORE GOOD YEARS!
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SINGAPORE, Feb 6 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] said on Friday its chief executive Ho Ching will step down and be replaced by former BHP Billiton CEO Chip Goodyear on Oct. 1.
Ho Ching, wife of Prime Minister Lee Hsien Loong, joined Temasek as a director in January 2002 and has been CEO since January 2004.
"The team has already embarked on a different stance since mid-2007, and has begun to review its long-term plans under different scenarios prompted by the economic downturn," Chairman S. Dhanabalan said at a media briefing.
"If we are to bring in new leadership, it would be just as good a time as any to involve a new leader in this review."
Goodyear, 51, stepped down as CEO of BHP Billiton in January 2007. He joined Temasek's board on Sunday.
Temasek, which had S$185 billion ($123.2 billion) in assets as at March 2008, has been hit hard due to its 40 percent exposure to banks that have slumped in value due to the global financial crisis.
The sovereign wealth fund's key investments include 28 percent of DBS Group (DBSM.SI), just under a fifth of Standard Chartered Bank (STAN.L) and about 3.8 percent of Bank of America (BoA) (BAC.N) following BoA's takeover of Merrill Lynch.
Temasek's $5 billion plus investment in Merrill alone has resulted in a loss of more than $2 billion. [ID:nBNG274629] (Reporting by Kevin Lim and Saeed Azhar, Editing by Ian Geoghegan)
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confirmed it is all over the bloomberg terminals
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I am more interested to know where "she" will "wreck havoc" at next ...
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What are the implications ?
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all major asian indices turned green
http://finance.yahoo.com/intlindices?e=asia
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I wonder how long for her to look for a job
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Chip Goodyear ???
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She don't need to work cos v. rich, husband can support her.
But if she still want to, most probably can pick & choose any of the GIC companies like F&N, St Engrg, DBS etc
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now till Oct 1
calculate how much she lost our money,
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So, how much Temasek Holding investments have decreased since the sub-prime
market crisis ?
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Ha ha ha ha ha, after contributed to so much losses she is leaving. Think she has enough kick out of losing $$$ and wanna move on for another challenge. Ha ha ha! Now that economy is so gloomy, deep financial woes she is leaving the job for the replacement to pick up all the shit she is leaving behind, smart wo-man!
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don't mind me saying this.. the PM's husband has left the building!
but what kind of name is "Chip Goodyear" ?
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I am saying may be, may be she is going to be another PAP minister.
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Finance Minister says that she is stepping down not because of investment losses.
Another noteworthy quote of the year.
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Wah!
Temasek got not much money for her to lose already. Most likely she'll be appointed some high post in another government linked company.
Who's her daddy? Who's her daddy?
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Ho Ching is rich anyway... It's certainly time for a new successor...
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Originally posted by maurizio13:
Wah!
Temasek got not much money for her to lose already. Most likely she'll be appointed some high post in another government linked company.
Who's her daddy? Who's her daddy?
Go read CNA market talk.
Lots of funny posts and speculation on this.
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Originally posted by charlize:
Go read CNA market talk.
Lots of funny posts and speculation on this.
Seriously, daddy won't leave her unemployed, it's recession now leh.
GIC has more money than Temasek, it's time to up the ante.
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char,
Do you think Ho is doing Martingales & St. Petersburg?
Have you been sweet talking Ho?
Highly suspect.
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Originally posted by maurizio13:
char,
Do you think Ho is doing Martingales & St. Petersburg?
Have you been sweet talking Ho?
Highly suspect.
What talking you?
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Originally posted by charlize:
What talking you?
She lost how many billions in Temasek, now she has more funds to use at GIC to continue her doubling spree mah.
The only expert in this technique is you, so highly suspect you teaching her.
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Originally posted by maurizio13:
She lost how many billions in Temasek, now she has more funds to use at GIC to continue her doubling spree mah.
The only expert in this technique is you, so highly suspect you teaching her.
I say again.
What talking you?
Speak simple English.
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Originally posted by charlize:
I say again.
What talking you?
Speak simple English.
Ooops......did I expose something I am not supposed to.