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Temasek sells Barclays stake at 1 bln dlr loss
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matthewsoh
Senior |
06-Jun-2009 01:21
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Super Accurate post ! AK Francis , are you in education line too ? You must be some director in MOE ?
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AK_Francis
Supreme |
06-Jun-2009 00:53
Yells: "Happy go lucky, cheers." |
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Normally, only BG/RADM 1* n above SAF officers are taken care by d gov/SAF for their second career. Col too many in d SAF, not enough high posts for them in d civil street. Normally, all BG less service chief, will be placed in big coy as non executive director. Ha ha, I met my frd/BG during Gent SP AGM last time. He sit first roll not on stage. Cpt n above SAF retired officers also join in school as Ops Manager. I got few former Cpt n Major are now working in various schools. Few yrs back a new post in school, Deputy Principal was created, only snr SAF officers, Cpt and above are eligible to apply. Mr Teo is now Minister for Misnistry of Defence. Mr George Yeo, former BG, now Minister for Misnistry of Foreign Affair MFA RADM(NS) Lui Tuck Yew, now Acting Minister for Information n the Arts. |
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fruitty
Senior |
06-Jun-2009 00:19
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Teo's son also scholar. Next time can take over his dad.
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matthewsoh
Senior |
05-Jun-2009 22:01
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Brother niuyear , your thought and post are always good and diversed. Can see the wide spectrum of your thought even though this is an investment forum.
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teeth53
Supreme |
05-Jun-2009 21:03
Yells: "don't learn through life, learn to grow with life " |
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There is another one even bigger in title..The Temasick chairman, board of Director of Temasick Holding...the weakest link who bot the CEO on board, the rest like CIO term...got power to say no meh..!!!, so the strongest link is to invest in the young and not those oredi established....buy, buy buy and buy when it is hitting bottom, stay stay and stay when it is at bottom, sell sell sell and sell when everybody start buying. NOT BUY HIGH and SELL LOW... Sent the two biggest chief back to school, there R not enterprener enuff...of 100 marks...only passed 48 marks and six years in it...resulted our biggest LOST of S$58 billions.. and a gain of less then 50%, only companies control by govt from within.
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jasonfaxingliu
Senior |
05-Jun-2009 13:44
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May be I can trade better with such large fund.... whereas they BUY HIGH AND SELL LOW | ||||
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niuyear
Supreme |
05-Jun-2009 13:25
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Is this a deliberation act by government to place people with military background into the school environment after careful consideration ? If it is so, I welcome the move and it is indeed, a good move. Terrorism must not be taken likely. Students fall easy prey to be lured into this type of activities. while the whole world is too tied up with reviving the world economy, the terrorists are making their way in at any opportunity. Its time to do something before its too late. |
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dcang84
Veteran |
05-Jun-2009 11:30
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The losses are massive considering they started off with a war chest of billions. Short term is their long term strategy i guess.
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matthewsoh
Senior |
05-Jun-2009 11:23
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Yup SAF scholar after age 45 , true , they can be like directors in MOE ( policies and non teaching related) cos I find them inexperience on ground leh ... imagine .. they go school ," CONTACTED" and asking students to take cover ? SAF scholars ( rank usually full colonel and generals )usually take director in singapore power , tourism board , ASTAR and springsingapore. I know some of them actually. SAF scholar becoming Education minister YES . Mr Teo Chee Hean :) |
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niuyear
Supreme |
05-Jun-2009 11:12
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I heard friends said about this . Perhaps, these P might be a scholar (col so and so) before and upon reaching 45 yrs of age, they were transfered to MOE?? and perhaps,took up some 1 or 2 years course to be trained in educatoinal field? Re: Temasek CIO and its team Search from internet, is intersting to know who is who.
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victorian2
Senior |
05-Jun-2009 10:59
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mattew, u r so right. Many singaporeans esp the upper middle class talks privately what u are saying. Singapore has no heart and soul. It is high class hotel. the poor and those ravaged by globalisation are given tokens to assist them and the well off, all the opportunities in the world. Aljunid GRC was in the last election a reflection of the sorry sad state of affairs. Temasek's bungling or rather the PM's wife's bungling of our money without a "regret" and all attemtps by the establishment & media of trying to justify thier investment philosophy has woken up many singaporeans esp the older set of the harsh realities of a future singapore without LKY. For myself and many in my 30s, the notion of a homeland or nation to be proud off evaporated the day No Ching said "I have no regrets". I rather she take a bow like the Japanese and say, I'm sorry, I messed up. Like the way Obama did by saying sorry for picking the wrong guy for nomination for commerce secretary. He earn admiration from many including me. Silence from our own PM and LKY is even more defeaning. The greater the silence as the day goes by and the wish by the establishment that the memories of saga will go away, the lesser the respect many in my agegroup will have for the establishment & the pride I have for this country. When I make money money, singapore will becomes truely become a hotel to me not tied by national pride, but by kinship and friendship. |
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matthewsoh
Senior |
04-Jun-2009 22:08
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The past glory on how Temasek has earned was totally chicken feet . Imagine all the money making companies were all local money spinners that have strong govt backing. Who cant be successful , you tell me ? when Temasek moves onto the big stage that is the global world, THEY starts to screw up. Thailand telecommunication , Aussie ABC learning , Now all the US and UK banks and who knows , they might have already sold many other stocks on hands. You find a commodities guy to takeover, the whole world knows your state plan and route of investment. He might just become your weakest links. Telling us Asia is the most attractive place for investment is the total so clever. As if who dont know that ASIA is the emerging market and now is toooooooo late. Early investor who stepped are laughing now , cos got idiot buying over these expensive stocks and thinking it will go up . Imagine China has everything repeated , like financial and bank crisis due to corruption and yes it might happen. Then YES, singapore state fund is going to donate money again. I cant imagine life without LKY , now everyone is giving him face and singapore floats. With so called talents with their own agenda in mind, they dont even care money lost by them. They are paid and so if they lose,gena sacked nia. Whose money is that ??? hahaha.. maybe then we have no money for CPF and health and everytik. Sorry very negative post, was doing my scenario planning. |
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teeth53
Supreme |
04-Jun-2009 19:17
Yells: "don't learn through life, learn to grow with life " |
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All Singaporean $58 billion lost is more then enuff to cover what have done for Temasick, any way she is leaving for good...Ms Ho Ching does...
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matthewsoh
Senior |
04-Jun-2009 18:56
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Sorry which schools are you referring to ? I dont think P in school were from SAF , only the Operation manager in school were Ex officer like warrant officer or SCDF type. I know because , I was an ex;teacher and running tuition business. never heard of P from SAF cos MOE got enough scholars to fill the gaps. hehe . i was the runaway scholar if not i maybe a P when i am very old haha. Tonite - DJ cheong cheong .....UP
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niuyear
Supreme |
04-Jun-2009 17:56
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Who is the CIO in temasek? This person got to be someone with high calibra with good experience of exposure to international investments and its environment. Is temasek in good hand?? Side track abit - I have noticed some school principals are actually transfered from Military force upon their retirement. I am wondering, the scope of jobs are so different and how are they linked? Or is it because the goverenment dont know where to put these people and they end up become principal in a school?? I hope Temasek is not taking someone though in high calibra, but without any good exposure to investments to just 'fill up that post'. |
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matthewsoh
Senior |
04-Jun-2009 17:53
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"Temasek's chief executive Ho Ching said last month that it would reduce its exposure to Western nations and increase its focus in Asia and other emerging markets such as Latin America and Russia. " Reduced not would reduce ... HAHA .. they so clever until dont know "would reduce" or "reduced liao" ???? Most of the transactions were last or this year ... |
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AnthonyTan
Elite |
04-Jun-2009 16:32
Yells: "patience" |
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Are they going to sell CharteredSC as well? What is the latest news. Cheers | ||||
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AK_Francis
Supreme |
04-Jun-2009 16:27
Yells: "Happy go lucky, cheers." |
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Yoh, it just scored one of d few World top biz opt transparency Investment Coy leh. GIC didn't score,it got only 6 pts instead of 8 to qualify for d title. At home who also know Tamasick is more transparent than GIC loh. Ha ha , father in law not jealous n angry, ok mah.
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nickyng
Supreme |
04-Jun-2009 15:32
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hmm...wonder wat other they hv sold at lost and never disclosed during partliament proceeding when Finance minister was questioned ? hmm...darn..there goes my potential GST credits $$$ :P ========================================== Singapore investment firm Temasek Holdings has sold its stake in British bank Barclays at a loss of 500-600 million pounds (815.38-978.45 million US), a report said Thursday. Unnamed officials were quoted by the Straits Times as saying that Temasek had disposed of the shares, estimated at two percent, between December and January. However, the state-linked firm declined to comment. "It is inappropriate for us to comment on unsourced reports," a Temasek spokesman said in a statement to AFP. The reported sale followed a statement Tuesday by an Abu Dhabi state-owned firm that it sold a chunk of its holding in the British lender for a sizeable profit. International Petroleum Investment Company (IPIC) sold its shares for a total of 3.5 billion pounds, according to Credit Suisse Securities, handing it a gain of 1.5 billion pounds in just seven months. IPIC had in a statement said it was selling 1.3 billion shares or 13.5 percent of Barclays. The sale leaves IPIC with 5.0 percent of the bank's stock. Temasek sold its stake in the bank at a time many thought it would be brought under British government control as the credit crisis bit and its share price fell. However, Barclays has since recovered. Temasek and the Government of Singapore Investment Corp, the city-state's other state investment vehicle, poured billions into Western banks but have seen their holdings' value dive as they were hit by the global economic crisis. Last month, Temasek announced it had sold its stake in Bank of America without giving any details, although industry analysts calculated it lost about 4.6 billion US dollars in the transaction. Temasek's chief executive Ho Ching said last month that it would reduce its exposure to Western nations and increase its focus in Asia and other emerging markets such as Latin America and Russia. "As Asia continues to develop, it continues to de-risk. We are increasingly more confident on Asia's future," Ho said. Finance minister Tharman Shanmugaratnam defended Temasek's track record, saying it made a net gain of 39 billion US dollars over five years from 2003. He also said Temasek as an investor should not be based on any individual transaction but on how it performed over the years. "Temasek is a long-term investor... but being a long-term investor does not mean being locked into every individual investment, regardless of major changes in the environment or a new investment proposition," he told parliament recently. |
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