Last Night,  one auntie told her friends that she had received a  phone call from her banker earlier in the evening.

Her banker made an offer to her on the TEMASEK 40-YEAR BOND  at 4.20%  Coupon Rate.

She  immediately told her banker, "I am nOt interested in this product.  Thank You!"

Will  Singapore be a  glObal  fInancIal  centre  ? ? ? ?

hOw tO ? ? ? ?

when sIngapOre  banks  are  makIng  ALL  the  FARCES ? ? ? ?

this  DREAM  had  been  tOO  lOng  Overdue  ? ? ? ?

iMpOssIble ? ? ? ?

Two  Questions  came  up :

Insurance companies cannOt  find  better investments  On  their  Own  ? ? ? ?

Temasek cannOt  find better  Financing  sOurces  Overseas  ? ? ? ?

ALL these are iNSiDE  the  SingapOre bOx  ? ? ? ?

PeOple  are  always  asked  tO  thInk  OutsIde  the  bOx  ? ? ? ?

WaLK  the  tAlk  ? ? ? ?

pharoah88      ( Date: 11-Aug-2010 16:57) Posted: <> Temasek makes history with its 40-year bond Siow Li Sen Fri, Jul 23, 2010 The Business Times   (SINGAPORE) Temasek Holdings has pulled off another trailblazing fund raising exercise, bringing more depth to the local debt market. Yesterday, it sold $1 billion of bonds with a 40-year tenor, double the length of the longest dated Singapore government bond. Demand, especially from insurance companies, was strong and came in at $1.7 billion, said Clifford Lee, DBS managing director and head of fixed income, global financial markets. The latest Temasek Bond which matures in August 2050 will pay 4.2 per cent interest. Investors will be paid every six months, at a coupon rate of 4.2 per cent per annum. 'The 2050 maturity set a new SGD benchmark, being the longest dated SGD bond yet issued,' said Aaron Russell-Davison, head of Asian debt syndicate, Standard Chartered Bank DBS was the global coordinator for the issue. Joint lead managers and bookrunners were DBS and Stanchart. 'It's an accomplishment by Temasek in many fronts,' said Mr Lee. 'They're opening up new markets for themselves and others and only very strong credits can do that . . . (and) tapped 40-year money at a 30-year rate.' In December, Temasek sold $300 million of 30-year bonds at a coupon rate of 4.2 per cent when interest rates were a lot higher. Since then, interest rates have fallen and a top quality issuer such as Temasek becomes very attractive. The 40-year bonds were sold in less than two hours with 88 per cent demand from Singapore and 12 per cent from Hong Kong. In the end, 97 per cent of the bonds went to Singapore-based investors and only 3 per cent to Hong Kong. 'Allocation was different because we would like to place more of the bonds to long term investors,' said Mr Lee. Insurance companies were allocated the lion's share of 89 per cent, followed by funds with 9 per cent and banks with 2 per cent. There were 53 accounts in all. This is Temasek's eleventh bond issue under its US$10 billion guaranteed global medium term note programme. With Monday's ??pounds;700 million (S$1.47 billion) of bonds sold to UK investors, the total Temasek bonds amount to S$10.4 billion, or just over 70 per cent of the US$10 billion programme. For long term investors, such as insurance companies, hungry for high quality bonds, there may be more to come from Temasek. 'We remain flexible depending on our objectives,' said Temasek spokesman Tan Yong Meng when asked if there would be another bond programme when the current one ends. Said Mr Russell-Davison: 'The fact that Temasek could access a new, extended maturity in SGD just days after completing their inaugural GBP deal demonstrates the depth of investor demand for their credit. Very few issuers could tap such diverse investor interest so effectively.' DBS's Mr Lee expects more corporates to issue longer date bonds in Temasek's wake. 'This year, we have seen a historically high level of bond issuance,' he said. Data from Bloomberg shows that in the first half of 2010, total SGD bond issuance came to S$10.5 billion, more than double that in the same six months of 2009.

320,000 tickets, MOE buys 80,000 tickets, sales “sluggish”:

245,000 tickets, tickets “snapped up”

which bank go first? i pick

UOB -  Family culture still very strong,  Father/son/......etc

DBS is a nation's bank. - strong wing.

OCBC / Great eastern - wing beneath the wing 

The FIRST GOVERNANCE  in  HR APPOINTMENT is

to  VERIFY  QUALIFICATION

DID  HR  VERIFY  THE CANDIDATE'S  QUALIFICATION  ? ? ? ?

DID  DBS  sued  the  EX-CEO to recover all the SALARIES AND BONUSES PAID and CLAIM  DAMAGES on this  "QUALIFICATION  FRAUD"  ? ? ? ?

WHY  NOT  ? ? ? ?

They can even do it NOW ? ? ? ?

lOOks  like  the  COMPLETE   "lOss"  is nOt  yet  FULLY  WRITTEN  OFF.

Which  means  there  will cOme  the  THRID  and  FORUTH and . . . .  CHARGES   

There was a TIME

numerous  Top and Senior Corporate Management

sent  themselves to 

HARVARD  SENIOR  MANAGEMENT  PROGRAM

which did not require examinations.

Probably  paid by company HR too.

Is  this  considered  "CORRUPTION"  ? ? ? ?

http://business.asiaone.com/Business/News/My%2BMoney/Story/A1Story20100803-230242.html

What's perhaps ironic though is that the bank continued to call it a one-time charge when this is the second time that DBS has done it.

What's obvious is that DBS overpaid in 2001 for the then Dao Heng Bank and ever since shareholders have been paying for that.

In 2005, when accounting rules changed, DBS took a $1.13 billion goodwill impairment charge for DBS Hong Kong. Previous accounting rules allowed goodwill to be amortised equally over a 20-year period.

The impairment charges - when they occur - have no impact on cash flow, regulatory capital or dividend payments. That's because it's after the fact. Shareholders could for the last 10 years have been enjoying much higher levels of dividend if DBS had not bought Dao Heng.