Why Singapore govt dig into our reserve

Since then.....the one who was instrumental in bringing in Ho Ching and it was based purely on merit is equally and fully responsible, is still vey comfortable headed Tamasick....headed for sick bed liao

Mind U before that Tamasek Holding is in very health position and after that..is so different, one who has choosen must equally responsible and account for it....... 

So it took the Senior Minister of State for finance. Mrs Lim Hwee Hua to defend GIC and Tamsick losses instead of those responsible who are still very, very Senior or very matured minister to defend and has collected several million of Sing$ dollar in salary (Minister salary) after lossing not only S$58 billion, to a tune of (estimated) to be S$190billion to S$200 billion in losses...SAD

BACK on TRACK....What this.???...by Mrs Lim Hwee Hua

As for the Government Investment Corporation of
Singapore or GIC, the investment analyst said it would
also lose more than a third of the value of its
investment portfolio.

"GIC started the crisis with roughly Singapore $550
billion in reserves. My (her) estimate is that it has lost
about S$190-S$200 billion of that, leaving it with about
$350 billion left. This amount is equivalent to 200
per cent of Singapore's gross domestic product," he
added.
"So both have lost money but their performance has not
been out of line with other large funds, possibly a
bit better. These are all worst-case estimates."

Well know, famous...n very popular...under estimated Sub-prime n it housing home-loan crisis..is not by pure incident or by accident. Decision maker in Chairman it n CEO...Pls wake those remain few so call talented...when so much people's has put up alot of red flags and even markers since late 2007. I said many times B4...ZZZzzz on d job n brunt-ly think...we R as very ordinary people's as what they thought by a few n if we depend just on 1 man...dead memm...

http://sg.news.yahoo.com/afp/20090209/tts-finance-banking-switzerland-ubs-cred-c1b2fc3.html

The massive spread of so-called "toxic" assets -- mainly linked to financial instruments now worth very little because of the US home-loan crisis -- throughout the global banking system is at the core of the crisis.

teeth53      ( Date: 05-Feb-2009 23:39) Posted: Why Singapore govt dig into our reserve Never will 1 2 listen, only to be told, their mindset is fix as old as their mind can work. same goes to d younger housewfie....very in-experience in managing too many big houses. teeth53      ( Date: 05-Feb-2009 23:01) Posted: teeth53 thot so....hmm...Just a reminder been. we r at stage four liao...Ya teeth53      ( Date: 21-Oct-2008 16:30) Posted: Just for sharing info..recalling since...is there a stage five...Ans is Yes and no..Ya Posted:20Aug2007   lower interest rate and so on....to ride out over this dark cloud hanging all over this world is trying to bufff & trying to ensure ppl's all over that this storm will blow over.come on, of course we will, not before riding into stage 3. We are facing at the word, confident right in our face and in our sub-conscious mind. scary 1st credit issue, then credit squeeze, next credit crunches, what next ?, credit melt....... Cash is king....Hmm

Why Singapore govt dig into our reserve

Never will 1 2 listen, only to be told, their mindset is fix as old as their mind can work. same goes to d younger housewfie....very in-experience in managing too many big houses.

teeth53      ( Date: 05-Feb-2009 23:01) Posted: teeth53 thot so....hmm...Just a reminder been. we r at stage four liao...Ya teeth53      ( Date: 21-Oct-2008 16:30) Posted: Just for sharing info..recalling since...is there a stage five...Ans is Yes and no..Ya Posted:20Aug2007   lower interest rate and so on....to ride out over this dark cloud hanging all over this world is trying to bufff & trying to ensure ppl's all over that this storm will blow over.come on, of course we will, not before riding into stage 3. We are facing at the word, confident right in our face and in our sub-conscious mind. scary 1st credit issue, then credit squeeze, next credit crunches, what next ?, credit melt....... Cash is king....Hmm teeth53      ( Date: 03-Feb-2009 21:10) Posted: I was just recalling our SMM said...said after US President took office...mentioned 3 to 6 months and pending what even it take....while in Hong Kong, thot..was so wonderful to hear that, at that point in times. "The unorthodox must be considered and I'm quite sure that the team-in-charge is quite capable of thinking up all the sums and all the equations. What they do in the next three to six months will decide whether it's going to be long and deep or medium and shallow. I do not believe it's going to be a short V-shaped recovery, it's not possible," the minister mentor said. The president said he was taking full responsibility for rescuing the U.S. economy, in its worst downturn in 80 years. "If I don't have this done in three years then there's gonna be a one-term proposition," Obama said, already looking ahead to the 2012 presidential election. teeth53 Posted: 03-Dec-2008 14:22      Both IR operator is asking for delay in their opening..Ya ?. Money problem, high construction cost, Bank anyhow credit lending problem..all due to Sub-prime and global recession and even if opening is due..wrong time as well. U believe in it..U buy /sell and do not hold the script. Be prepare for more volatile mkts at this point in times. Beginning of recovery is only 2 yrs away, another few yrs to slip upward B4 it peak (chiong) another few yr later.. for only short rally MM Lee confident US can revive economy http://www.channelnewsasia.com/stories/singaporelocalnews/view/393735/1/.html By Channel NewsAsia's HK Bureau Chief Roland Lim | 02 Dec 2008 2300 hrs HONG KONG: Former US president Bill Clinton kicked off his first charitable conference abroad in HK on Tues. More than 400 of Asia's elite attended the event, including Singapore's Minister Mentor Lee Kuan Yew who engaged in a dialogue at the conference on the challenges facing Asia. The two-day Clinton Global Initiative meeting focused on pressing issues facing Asia today – education, energy, climate change and public health – and the need to come up with an action plan to meet these challenges.     teeth53     05-Feb-2009 23:01   Contact    Quote! teeth53 thot so....hmm...Just a reminder been. we r at stage four liao...Ya teeth53      ( Date: 21-Oct-2008 16:30) Posted: Just for sharing info..recalling since...is there a stage five...Ans is Yes and no..Ya Posted:20Aug2007   lower interest rate and so on....to ride out over this dark cloud hanging all over this world is trying to bufff & trying to ensure ppl's all over that this storm will blow over.come on, of course we will, not before riding into stage 3. We are facing at the word, confident right in our face and in our sub-conscious mind. scary 1st credit issue, then credit squeeze, next credit crunches, what next ?, credit melt....... Cash is king....Hmm teeth53      ( Date: 03-Feb-2009 21:10) Posted: I was just recalling our SMM said...said after US President took office...mentioned 3 to 6 months and pending what even it take....while in Hong Kong, thot..was so wonderful to hear that, at that point in times. "The unorthodox must be considered and I'm quite sure that the team-in-charge is quite capable of thinking up all the sums and all the equations. What they do in the next three to six months will decide whether it's going to be long and deep or medium and shallow. I do not believe it's going to be a short V-shaped recovery, it's not possible," the minister mentor said. The president said he was taking full responsibility for rescuing the U.S. economy, in its worst downturn in 80 years. "If I don't have this done in three years then there's gonna be a one-term proposition," Obama said, already looking ahead to the 2012 presidential election. teeth53 Posted: 03-Dec-2008 14:22      Both IR operator is asking for delay in their opening..Ya ?. Money problem, high construction cost, Bank anyhow credit lending problem..all due to Sub-prime and global recession and even if opening is due..wrong time as well. U believe in it..U buy /sell and do not hold the script. Be prepare for more volatile mkts at this point in times. Beginning of recovery is only 2 yrs away, another few yrs to slip upward B4 it peak (chiong) another few yr later.. for only short rally MM Lee confident US can revive economy http://www.channelnewsasia.com/stories/singaporelocalnews/view/393735/1/.html By Channel NewsAsia's HK Bureau Chief Roland Lim | 02 Dec 2008 2300 hrs HONG KONG: Former US president Bill Clinton kicked off his first charitable conference abroad in HK on Tues. More than 400 of Asia's elite attended the event, including Singapore's Minister Mentor Lee Kuan Yew who engaged in a dialogue at the conference on the challenges facing Asia. The two-day Clinton Global Initiative meeting focused on pressing issues facing Asia today – education, energy, climate change and public health – and the need to come up with an action plan to meet these challenges. 13-Dec-2008 With global recession grooming around for any other 2-3 years. This time round GIC and Tamasick is too over expose to over investment 24-Jan-09   This prolong recession is expected to last for two years, the least... teeth53 just sharing my thot and trading experience teeth53      ( Date: 03-Feb-2009 20:38) Posted: Obama revival plan to stimulus and nurse back it US economy...3 years to turn around. He can on d last lap (1st term) can show is on d up swing...good liao S'pore said at least it is going to last us a year, this prolong recession     teeth53     05-Feb-2009 22:03   Contact    Quote! Òbama as US President is ...good, but..but with Angmo (westerner) around to assist him... i see monkey do...monkeys does... as.....just like..Westerners are good con men, so are their followers. Take for example Madoff fraud hit up to 3 million victims: law firm, Obama demands stimulus action but Republicans want changes teeth53 thot: Westerner has been proven to be world best Professional Con Man...Ya.     teeth53     03-Feb-2009 21:10   Contact    Quote! I was just recalling our SMM said...said after US President took office...mentioned 3 to 6 months and pending what even it take....while in Hong Kong, thot..was so wonderful to hear that, at that point in times. "The unorthodox must be considered and I'm quite sure that the team-in-charge is quite capable of thinking up all the sums and all the equations. What they do in the next three to six months will decide whether it's going to be long and deep or medium and shallow. I do not believe it's going to be a short V-shaped recovery, it's not possible," the minister mentor said. The president said he was taking full responsibility for rescuing the U.S. economy, in its worst downturn in 80 years. "If I don't have this done in three years then there's gonna be a one-term proposition," Obama said, already looking ahead to the 2012 presidential election. teeth53 Posted: 03-Dec-2008 14:22      Both IR operator is asking for delay in their opening..Ya ?. Money problem, high construction cost, Bank anyhow credit lending problem..all due to Sub-prime and global recession and even if opening is due..wrong time as well. U believe in it..U buy /sell and do not hold the script. Be prepare for more volatile mkts at this point in times. Beginning of recovery is only 2 yrs away, another few yrs to slip upward B4 it peak (chiong) another few yr later.. for only short rally MM Lee confident US can revive economy http://www.channelnewsasia.com/stories/singaporelocalnews/view/393735/1/.html By Channel NewsAsia's HK Bureau Chief Roland Lim | 02 Dec 2008 2300 hrs HONG KONG: Former US president Bill Clinton kicked off his first charitable conference abroad in HK on Tues. More than 400 of Asia's elite attended the event, including Singapore's Minister Mentor Lee Kuan Yew who engaged in a dialogue at the conference on the challenges facing Asia. The two-day Clinton Global Initiative meeting focused on pressing issues facing Asia today – education, energy, climate change and public health – and the need to come up with an action plan to meet these challenges. 13-Dec-2008 With global recession grooming around for any other 2-3 years. This time round GIC and Tamasick is too over expose to over investment 24-Jan-09   This prolong recession is expected to last for two years, the least... teeth53 just sharing my thot and trading experience teeth53      ( Date: 03-Feb-2009 20:38) Posted: Obama revival plan to stimulus and nurse back it US economy...3 years to turn around. He can on d last lap (1st term) can show is on d up swing...good liao S'pore said at least it is going to last us a year, this prolong recession     teeth53     03-Feb-2009 20:38   Contact    Quote! Obama revival plan to stimulus and nurse back it US economy...3 years to turn around. He can on d last lap (1st term) can show is on d up swing...good liao S'pore said at least it is going to last us a year, this prolong recession     teeth53     31-Jan-2009 18:18   Contact    Quote! Singapore is 1st into hitting recession and 1st to get out of recession..jobs credit scheme help alot that is equivalent to a 9-perentage-point cut in employers' CPF contribution, saving workers more pain. This can sustain aggregate demand and putting pressure to save jobs. For more info...Pls read following Straits Times paper (Sat) Jan 31, 2009 (Page A29-A30) Review.Insight This will becoming another model for other (certain) nations to look at....condition subject to their local modification teeth53      ( Date: 31-Jan-2009 17:49) Posted: The man behind d  Jobs credit scheme: killing 3 birds with one stone is Mr Poon Hoon Yuen 39. Director for economic programmes. (A director in MOF) with his team has minister Tharman advise, give direction to d budget team on what to focus on..., thot came throught with deep discussion on how much..question is how much is needed..?.(Jobs saving....Save jobs), to give firms cash: How the novel scheme evolved into S$4.5 billion worth was a stunner for policymakers to came up with... a wage subsidy incentive for SMe companies to save jobs cap to salary upto S$2,500/-. ST paper Sat Jan 31, 2009 (Page A29-A30) Review.Insight It took them to realize things is not going well from Oct 2008, thus..this team has to re-focus more on how to save job cost rather then cut jobs to save cost and they started ASAP till late into d night, till budget day arrive. It caught even analysts and businesses alike by surprise, it has to take into consideration...extra ordinanary measure to ease pain w/o cutting into CPF, cutting 12% off each workers wages cost upto S$2,500/- monthly salary. nextdoor      ( Date: 31-Jan-2009 00:01) Posted: Singapore will be badly hit in this crisis...the worst is really yet to surface. Please be careful,,,,,,teeth nice post.   First Older> Last Important: Please read our Terms and Conditions and Privacy Policy .