Others

GIC and Temasek

Counting more losses...yet those on Dir board n their gig chief earning million, safe n sound..ZZZZzzzzz n boosting somemore 1 2 invest... Temasick "Si Bei Heng" not to be sack..Sick of it, really sick of it, not even pledge to donate their earning to it poorest citizen. teeth53 thot so...very SAD http://sg.news.yahoo.com/afp/20081127/tts-us-finance-banking-takeover-merrill-972e412.html AFP - Thursday, November 27WASHINGTON (AFP) - - The Federal Reserve on Wednesday gave formal approval to Bank of America's acquisition of Merrill Lynch, the Wall Street icon battered by the housing and credit crisis. The 50-billion-dollar stock acquisition had been announced in September at the same time rival Lehman Brothers collapsed and fears were rising over the survival of Merrill,

teeth53 ( Date: 03-Dec-2008 09:50) Posted:

So We or even the next generation, we all will have to pay to keep Tamasick and a few of those sitting on board alive....to subsidies for those >S$10billion of losses. We called it a commercial deal...So those can still enjoy big huge salary earn for those losses (not to be sack..Sick of it, really sick of it), our generation and next generation will have to earn several more or many more thousand in salary term every months to contiune to make Tamasick and even GIC fat shares holder fat, and who control it..?. Not the President.

Are they, those few can do it to keep us, many of us becoming rich with many more millionaire, or just re-invent again to welcome many more foreign millionaires or billionaires to give us job so as to keep their as well.

They always tell us and said to give us job and not theirs. We have uncles and aunties tolling, working day and night for afew hundred of dollars ONLY...What nonsense...pay monkey, get monkey work

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/393730/1/.html

Another such blunder from them..we have to sell backside liao as this is the last power stn we...err...not we, they..those few on board SOLD them, not us, so don't blame us for not supporting those few fellows up there...Ya..:(( sad isint it..?.

teeth53 ( Date: 02-Dec-2008 21:39) Posted:

Temasek sells PowerSeraya to YTL Power for S$3.8b

SATS to buy 70% stake in Singapore Food Industries

CITI grp reported huge lost. GIC n Temasick can as well report it losses, teeth53 thot so

http://www.channelnewsasia.com/stories/afp_world_business/view/402930/1/.html

The New York banking group reported a hefty 8.29 billion dollar loss in the fourth quarter. The loss per share was 1.72 dollars, sharply higher than most analysts' predictions of a 1.19 dollar loss.

Citi said it had 5.6 billion dollars in fourth-quarter revenues but the bottom line was under severe pressure, notably from 6.1 billion dollars for bad loans and 6.0 billion dollars for net loan loss reserve build.

The bank also took a 2.0 billion restructuring charge and 5.6 billion dollars in write-downs. "We continued to make progress on our primary goal in 2008 -- which was to get fit," said Citi chief executive Vikram Pandit.

Citi said the US government had finalized the terms of its guarantee against possible large losses on an asset pool of 301 billion dollars, announced on November 23.

teeth53 ( Date: 12-Jan-2009 21:27) Posted:

Will such item happen here...?. http://www.nytimes.com/2009/01/12/business/12citi.html?partner=rss&emc=rss

Citi Is Urged to Replace Chairman Mon, 12 Jan 2009 11:52:59 GMT

Regulators are pressing Citigroup to shake up its board and replace its chairman in an effort to restore confidence in the beleaguered bank.

teeth53 ( Date: 12-Jan-2009 19:42) Posted:

http://sg.news.yahoo.com/afp/20090112/tts-switzerland-finance-banking-ubs-c1b2fc3.html

So what will be Singapore GIC/Temasick lost ?.

UBS would record an overall loss in 2008 of 20 billion Swiss francs (18 billion dollars), in spite of showing a profit of 296 million francs in the third quarter, when it reports results on February 10.

The German language Sonntag, which is generally well-informed, said that the bank had racked up eight billion francs (seven billion dollars) in losses in the final quarter of 2008, bringing the total for the year to 20 billion

UBS admitted....UBS was heavily exposed to risky US subprime mortgage business and had to write down almost 47 billion dollars in share values. In recent months clients have taken fright and withdrawn a total of 83.6 billion francs.

The Swiss government intervened in October with a rescue plan of 60 billion dollars.

Since then the bank has been hit by the fraudulent Ponzi scheme of US fraudster Bernard Madoff and the failure of the US subsidiary of the Dutch group LyondellBasell and its share value has lost two thirds over the year.

Ha ha, do u think that possible with Chairmen, Mr Dee at DIC n Mdm Do at d other arm?

teeth53 ( Date: 12-Jan-2009 21:27) Posted:

Will such item happen here...?. http://www.nytimes.com/2009/01/12/business/12citi.html?partner=rss&emc=rss

Citi Is Urged to Replace Chairman Mon, 12 Jan 2009 11:52:59 GMT

Regulators are pressing Citigroup to shake up its board and replace its chairman in an effort to restore confidence in the beleaguered bank.

teeth53 ( Date: 12-Jan-2009 19:42) Posted:

http://sg.news.yahoo.com/afp/20090112/tts-switzerland-finance-banking-ubs-c1b2fc3.html

So what will be Singapore GIC/Temasick lost ?.

UBS would record an overall loss in 2008 of 20 billion Swiss francs (18 billion dollars), in spite of showing a profit of 296 million francs in the third quarter, when it reports results on February 10.

The German language Sonntag, which is generally well-informed, said that the bank had racked up eight billion francs (seven billion dollars) in losses in the final quarter of 2008, bringing the total for the year to 20 billion

UBS admitted....UBS was heavily exposed to risky US subprime mortgage business and had to write down almost 47 billion dollars in share values. In recent months clients have taken fright and withdrawn a total of 83.6 billion francs.

The Swiss government intervened in October with a rescue plan of 60 billion dollars.

Since then the bank has been hit by the fraudulent Ponzi scheme of US fraudster Bernard Madoff and the failure of the US subsidiary of the Dutch group LyondellBasell and its share value has lost two thirds over the year.

Will such item happen here...?. http://www.nytimes.com/2009/01/12/business/12citi.html?partner=rss&emc=rss

Citi Is Urged to Replace Chairman Mon, 12 Jan 2009 11:52:59 GMT

Regulators are pressing Citigroup to shake up its board and replace its chairman in an effort to restore confidence in the beleaguered bank.

teeth53 ( Date: 12-Jan-2009 19:42) Posted:

http://sg.news.yahoo.com/afp/20090112/tts-switzerland-finance-banking-ubs-c1b2fc3.html

So what will be Singapore GIC/Temasick lost ?.

UBS would record an overall loss in 2008 of 20 billion Swiss francs (18 billion dollars), in spite of showing a profit of 296 million francs in the third quarter, when it reports results on February 10.

The German language Sonntag, which is generally well-informed, said that the bank had racked up eight billion francs (seven billion dollars) in losses in the final quarter of 2008, bringing the total for the year to 20 billion

UBS admitted....UBS was heavily exposed to risky US subprime mortgage business and had to write down almost 47 billion dollars in share values. In recent months clients have taken fright and withdrawn a total of 83.6 billion francs.

The Swiss government intervened in October with a rescue plan of 60 billion dollars.

Since then the bank has been hit by the fraudulent Ponzi scheme of US fraudster Bernard Madoff and the failure of the US subsidiary of the Dutch group LyondellBasell and its share value has lost two thirds over the year.

Temasick simply put it as paper lost of more then US$2 billion, still counting...yet to see more losses on others investment banks.

Only for one reason...long term one. sick of hearing such reason.

I should say "Ma HO Pao".

victorian2 ( Date: 26-Dec-2008 09:58) Posted:

agree....don"t understand why can"t they wait for firesale prices.

Temasick converts Merrill Lynch, converted its 13.7% into BoA Corp stock.

(teeth53 thot: more losses yet to be announce)

Analysis based on publicly available filings indicate that Temasick's investment declined by S$2.9 billion, holding 219.7 million share bot at an average of US$23/- to US$24/- a share, after conversion Temasick holds about 189 million shares, or 3.8%, of BoA. BoA shares closed at US$13.71ct on Wed on NY Stock Exchange...it stake value now at US$2.59 billion

News fm REUTERS

teeth53 ( Date: 25-Dec-2008 21:43) Posted:

Prologis. Saving a sinking ship from been sink.....and has to sink in Billion of Sing dollars...teeth53 just sharing my thot

teeth53
Supreme

Posted: 03-Dec-2008 14:22

Both IR operator is asking for delay in their opening....Y..?. 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 2yrs away, another few yrs to slip upward B4 it peak (chiong) another few yr later.. for only short rally

teeth53 just sharing my thot and trading experience

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.

Ha ha, thats so-called d Reversed Engineering mah.

agree....don"t understand why can"t they wait for firesale prices.

Prologis. Saving a sinking ship from been sink.....and has to sink in Billion of Sing dollars...teeth53 just sharing my thot

teeth53
Supreme

Posted: 03-Dec-2008 14:22

Both IR operator is asking for delay in their opening....Y..?. 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 2yrs away, another few yrs to slip upward B4 it peak (chiong) another few yr later.. for only short rally

teeth53 just sharing my thot and trading experience

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.

nickyng ( Date: 24-Dec-2008 10:05) Posted:

hmm...this GIC on shopping spree again....wah looks like they never learn their lesson hor ? :P

ProLogis to sell China operations and Japan stake to GIC Real Estate (GIC RE), the real estate investment company of the Government of Singapore Investment Corp !

ProLogis PLD.N, one of the world's largest warehouse owners and developers, will sell its operations in China and its interest in its Japanese property funds for $1.3 billion to raise cash to pay down debt, the company said on Tuesday.

ProLogis, whose shares jumped nearly 15 percent on the news, said it expects to record a net loss equal to 4 percent to 5 percent of the book value of the assets to be sold.

The buyer is GIC Real Estate (GIC RE), the real estate investment company of the Government of Singapore Investment Corp, a sovereign wealth fund. GIC RE will assume the liabilities of the assets, ProLogis said.

Denver-based ProLogis said the deal, expected to close in January, would reduce its development pipeline by $1 billion. That includes $255 million to complete development of projects in China.

"In one substantial step, this transaction helps ProLogis de-lever its balance sheet, relieve near-term refinancing pressure and enhance liquidity," Walter Rakowich, ProLogis chief executive, said in a statement.

At the end of the third quarter the pipeline stood at $8.2 billion. By the end of October, ProLogis, a real estate investment trust (REIT), trimmed that down to $7.5 billion by selling some of its buildings to its funds and canceling several development projects.

"Even though it will incur a slight loss on these transactions relative to book value, we are encouraged that it will be able to reduce debt and enhance liquidity," Standard & Poor's REIT analyst Robert McMillan wrote in a note.

Just six months ago ProLogis focused its attention on expansion in Asia. But the credit crisis and the downturn in the global economy transformed the company's rapid expansion into a burden under the weight of the debt used to support the activity.

ProLogis typically develops warehouse and distribution centers and then created funds to buy them. ProLogis would retain about a 20 percent stake in the funds and receive fees for managing them.

Last month, the company said it had $7.43 billion in balance sheet debt coming due in 2009 through 2012. Its funds had $8.38 billion maturing over the same period.

Its troubles led to the resignation of Jeffrey Schwartz as CEO. He had led the Asia expansion before becoming the company's top executive. "Selling our China operations and our investment in the Japan funds was not an easy decision; however, this represents a major milestone in the implementation of the plan we outlined last month to strengthen the company's balance sheet in order to meet the challenges of the current environment," Rakowich said

Unlike Capitaland's. Tamasick, it's seen they are not going to let go theirs (board of Dir or their Chief)....sickness, really sick of seeing it draining their resouces ($$$) for one and only reason.....long term investment.

Posted: 24-Dec-2008 06:53
	Capitaland's will have Mr Peter Seah as deputy chairman from Jan 2009. A former banker with OUB, also serve as President & CEO of ST till 2004, with his experience, he can help former Finance minister and with former Finance Minister. Mr Richard Hu as Capland chairman. He is seen as to be slot for taking over the chairmanship. It is a lost to Temasick Holding

teeth53 ( Date: 24-Dec-2008 07:07) Posted:

Get those sitting on board not fit to be sitting there must get out. Please get out and go home B4 it get worst

teeth53 ( Date: 13-Dec-2008 09:58) Posted:

Get those not fit to sit on board to get out or get ready to be fired, tell that to L.. it is understood, 1st to be fire is those who misjudge, it is a mistake done which cannot be undone, so get it done B4 it sink..Err B4 it get stink as more fly n bee will be attracted toward it, get it done B4 he smell turn to rot. not only those thing but also attract croaches, bug, thamites and even unknow disseases start spreading all over to other more stronger companies...and so on....

teeth53 thot...Six months ago....and the credit crisis and it down turn warning has long been posted more then a year back.....hmmm, never learn there lesson is Prologis, so is GIC, is still very RICH to with stand this coming prolonger recession for over d next several years.

Just wondering when will it get back those invested capital and losses of multi-billion of Sing dollars.

Just six months ago ProLogis focused its attention on expansion in Asia. But the credit crisis and the downturn in the global economy transformed the company's rapid expansion into a burden under the weight of the debt used to support the activity.

hmm...this GIC on shopping spree again....wah looks like they never learn their lesson hor ? :P

ProLogis to sell China operations and Japan stake to GIC Real Estate (GIC RE), the real estate investment company of the Government of Singapore Investment Corp !

ProLogis PLD.N, one of the world's largest warehouse owners and developers, will sell its operations in China and its interest in its Japanese property funds for $1.3 billion to raise cash to pay down debt, the company said on Tuesday.

ProLogis, whose shares jumped nearly 15 percent on the news, said it expects to record a net loss equal to 4 percent to 5 percent of the book value of the assets to be sold.

The buyer is GIC Real Estate (GIC RE), the real estate investment company of the Government of Singapore Investment Corp, a sovereign wealth fund. GIC RE will assume the liabilities of the assets, ProLogis said.

Denver-based ProLogis said the deal, expected to close in January, would reduce its development pipeline by $1 billion. That includes $255 million to complete development of projects in China.

"In one substantial step, this transaction helps ProLogis de-lever its balance sheet, relieve near-term refinancing pressure and enhance liquidity," Walter Rakowich, ProLogis chief executive, said in a statement.

At the end of the third quarter the pipeline stood at $8.2 billion. By the end of October, ProLogis, a real estate investment trust (REIT), trimmed that down to $7.5 billion by selling some of its buildings to its funds and canceling several development projects.

"Even though it will incur a slight loss on these transactions relative to book value, we are encouraged that it will be able to reduce debt and enhance liquidity," Standard & Poor's REIT analyst Robert McMillan wrote in a note.

Just six months ago ProLogis focused its attention on expansion in Asia. But the credit crisis and the downturn in the global economy transformed the company's rapid expansion into a burden under the weight of the debt used to support the activity.

ProLogis typically develops warehouse and distribution centers and then created funds to buy them. ProLogis would retain about a 20 percent stake in the funds and receive fees for managing them.

Last month, the company said it had $7.43 billion in balance sheet debt coming due in 2009 through 2012. Its funds had $8.38 billion maturing over the same period.

Its troubles led to the resignation of Jeffrey Schwartz as CEO. He had led the Asia expansion before becoming the company's top executive. "Selling our China operations and our investment in the Japan funds was not an easy decision; however, this represents a major milestone in the implementation of the plan we outlined last month to strengthen the company's balance sheet in order to meet the challenges of the current environment," Rakowich said

Get those sitting on board not fit to be sitting there must get out. Please get out and go home B4 it get worst

teeth53 ( Date: 13-Dec-2008 09:58) Posted:

Get those not fit to sit on board to get out or get ready to be fired, tell that to L.. it is understood, 1st to be fire is those who misjudge, it is a mistake done which cannot be undone, so get it done B4 it sink..Err B4 it get stink as more fly n bee will be attracted toward it, get it done B4 he smell turn to rot. not only those thing but also attract croaches, bug, thamites and even unknow disseases start spreading all over to other more stronger companies...and so on....

teeth53 ( Date: 08-Dec-2008 10:19) Posted:

Tamasick has invested in ML, and ML CEO got to get US$160 million (S$243 millions) as retire package, on top of this, it all fisco, simple put as very blunt and totally angmo style. It is the ML board that has their approval, Will d BoA board approval such retring package after having spend US$50 Billion to take over ML and are we also what they are praticing..angmo style of firing off 60,900 ML staffs and paying ML CEO..?.

On 2nd thot, can we ask angmo to invest in our about to fail companies and do not let them know our dept, so let their money lost it with us to a tune of multi billion of dollars.

Capitaland's will have Mr Peter Seah, 62, as deputy chairman from Jan 2009. A former banker with OUB, also serve as President & CEO of ST till 2004, with his experience, he can help former Finance minister and with former Finance Minister. Mr Richard Hu as Capland chairman. He is seen as to be slot for taking over the chairmanship. Both chairman can be seen as greatman which can move Capitaland's far better then Temasick

It is a lost to Temasick holding, unlike Temasick which is run by another group, the CEO is also from ST and it cannot help but lost alot in investment in Temasick to a tune of multi billion of Sing dollars.

That's why we better have the likes of Tan Kin Lian as the next EP.

teeth53 ( Date: 14-Dec-2008 09:08) Posted:

Typing errr.....is US$ 50 billion made off by single handling and trusted him, still a free man on US 10 million bond

teeth53 ( Date: 14-Dec-2008 09:04) Posted:

Bernard L. Madoff, 70, facing a single count of securities fraud, declined to speak with reporters after a federal magistrate judge in U.S. District Court in Manhattan ordered him released Thursday night on $10 million bail. (US5Bil) They trusted him with everythings.

They trusted him with everythings...Ya (which mean it is very, very dangerous if one man were to made a misjudgement. We all DEAD) and will our own regulators ignore d RED flags ?. when Sharejunction posted early warning is abundance for years, since mid 2007.

Will it happen here in Singapore, where the regulators have any moral authority to check on those loop hole pending those who rule or enable to make decision for cheating

Here a lesson we all need to learn and it make me think of how our public funded money were to be invested oversea where early warning is abundance for years.

Saved by BoA...ya. (BoA to cut 35,000 staffs world wide ) got 'si bei heng' co's at least for long, long term liao, money won't be absotued down to zero value. Perhap in five to ten years, it may get back to par value plus, plus....

BoA is the biggest bank is US, correct me if i am wrong.

jensonlaw ( Date: 13-Dec-2008 19:29) Posted:

Where got 'si bei heng'? Go read up on the T&C of the arrangement, and you'll find that TAMAXXXK is submerged in deep shit - hard to see the daylight anymore.

Typing errr.....is US$ 50 billion made off by single handling and trusted him, still a free man on US 10 million bond

teeth53 ( Date: 14-Dec-2008 09:04) Posted:

Bernard L. Madoff, 70, facing a single count of securities fraud, declined to speak with reporters after a federal magistrate judge in U.S. District Court in Manhattan ordered him released Thursday night on $10 million bail. (US5Bil) They trusted him with everythings.

They trusted him with everythings...Ya (which mean it is very, very dangerous if one man were to made a misjudgement. We all DEAD) and will our own regulators ignore d RED flags ?. when Sharejunction posted early warning is abundance for years, since mid 2007.

Will it happen here in Singapore, where the regulators have any moral authority to check on those loop hole pending those who rule or enable to make decision for cheating

Here a lesson we all need to learn and it make me think of how our public funded money were to be invested oversea where early warning is abundance for years.

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GIC and Temasek

ProLogis to sell China operations and Japan stake to GIC Real Estate (GIC RE), the real estate investment company of the Government of Singapore Investment Corp !

ProLogis to sell China operations and Japan stake to GIC Real Estate (GIC RE), the real estate investment company of the Government of Singapore Investment Corp !