“You know me, ah. My luck is changing. I will win it all back …. Just one more try …”

Sounds familiar?

they made stupid mistake & yet can stil get away with a mere sweeping excuse.

jim roger has openly warned them in public not to get into this banking mess before they jumped in….yet they turned into deaf ears……

someone senior in gic & temasek must be responsible for a string of
mis-judgements!!

ho ching & co should be sacked!

remember. he said change. he never said change for better or worse. so if TH or GIC’s investments turn sour, don’t complain because he already said so.

How LONG is LONG ?

Financially speaking past history is never a basis for current or future trend.
The basis at best is compared to prior 1 to 3 years or with current year
forecast or projections but never the past ten or twenty years. The latter is
just plain irrelevant. So the financial performances of GIC or Temasek is no different.

The world is facing a momentous credit crises which is, I believe, is still in its
infancy, that is not as yet towards its end. The build up of credit since the second WW,and especially since 2001 after the dotcom burst, is working its way down. However people, including governments, never really learn. The main reason for the current dilemma was Alan Greenspan’s(the former Chairman of the US Federal Reserve Bank) misjudged monetary policies and complete lack of regulatory supervision of the financial institutions. The outcome is unparalleled in history
which makes the years of The Great Depression as rather mild though severe. I believe we are in the throes of The Greater Depression and very severe deflation.

As such with the industrialised world, principally US and Europe, sinking into financial stresses as they are having now all countries that are tied economically to them in trade and commerce will face the same consequences. So the recession in US commenced from December 2007 according to the US National Bureau of Economic Research. This would explain why Singapore went into recession in 3Q08 as well as many other countries. Don’t count on China, India or Japan for they will have a tremendous problem of their own. It sure looks like this Greater Depression of 2008 is likely to last a decade and not 12 to 18 months as most economists are expecting.

“How LONG is LONG ?”

when the long becomes loong.

Hi me;

That #6 is a good one !

patriot

America is headed towards a DEPRESSION. Job losses for Nov 2008, 533,000 American jobs gone. More on the way. People losing their homes everyday. We will see Americans living in tents, parking lots in churches are full of displaced Americans. Soup Kitchens, everything we saw in the GREAT DEPRESSION of 1933 but only much much worse.
All this was started with George Bush’s war on Iraq.
China has announced a slowdown in its economy. I don’t know how PM Loong can state that Temasek will change? for what? for the better? or for the worse?
And who is REALLY going to pay for Singapore’s casinos?

1 year recession is too optimistic. Even if it is only one year, the subsequent years of slow growth is also of concern. Because every economy needs a minimum growth rate for unemployment to stay low. That’s why China invest into itself to help growth rate high, so that people can continue to find employment. So, even if this recession lasts only 1 year, which is very unlikely, it will feel like a long one because the waves of new graduates who enter the job market will find it hard to find work. Keep dreaming…

Enough of your craps and losses, LHL and company!!!!!!!!!

The crisis has proven one certainty – the need for a strong opposition to challenge the ruling party’s policies and decisions. Otherwise, the country is primed to fail sometime in future.

The time has come for Singaporeans to vote for accountability and transparency in the next GE.

Hello Mr Lee

ML will no longer exist very shortly. Temasek will own shares in BOA, something it didn’t like. It passed when BOA did a placement, thereby diluting its interest.

Its entry price was around US$22. It got US$13 worth of BOA shares at the exchange ratio of .8595. This is loss of 41% in one yr. As Temasek invested US$9 billion, it lost US$5.3 billion.

The bet to double down in August was made by a lousy poker, blackjack, bridge, or backgammon player. It could have got back its initial USD4.4 Dec 2007 investment. The Arabs and US investors took their money and ran. Temasek was the sucker. Taz trouble with employing scholars and investment bankers with gd gambling skills. If only we had IR yrs ago.

Hitler’s “1000 yr” empire lasted 6 yrs, one wonders how long MM’s remaining two 30-yr investments (UBS, Citi) will last? ML lasted less than a yr.

… but the situation can change….. you wait long long, until you die may be still can not change. If in private MNC, the CEO already got sack, but in Temasek and GIC, the CEO still sitting up there as if nothing has happened. Very poor judgemnent of these people, getting so much salary and yet don’t hold responsible.

The PM is absolutely right. Things can change, for the worse! But he still gets his $3.4 million pay check.

I wonder how much the GIC and Temasek invests in Minibonds and similar derivatives product.

I guess nobody will want to reveal all these even if Singaporeans ask.

Talking about diversification of risk, we should diversify our political risk by getting in more opposition to kachio the government, make sure it is earning its keep.

As I always said, in the long term, we are all dead!

Temasek gone, CPF gone!
GIC gone, Singapore gone!
LKY gone, PAP gone!

16) Lim Peter on December 6th, 2008 1.56 pm

Temasek gone, CPF gone!
GIC gone, Singapore gone!
LKY gone, PAP gone!

Aiyah! . . . . make it simple lah. LKY gone. then . . . . . all GONE! and sooooooon cos JBJ is getting impatient down there waiting and waiting and . . . . .

Honorable PM Lee,

Sure… It did not look that bad then… But, we are not paying peanuts for kucing kurap leaders. We paid you and your father, your wife millions….

This is what we get.

Yours loyal citizens.

I don’t get it. With so many screwed ups and yet PM can still have that skin so thick to talk out as if there is nothing wrong. this is the taxpayers monies, and not belongs to you and your father, so don’t talk cock! If I were you, now I would have already dug out a hole on the ground and buried my head into it, how can I face the people of singapore?

If you read the Strait Times or Zaobao, he told you to wait patiently for 20 years (when he and the people in charge in Temasek etc) are long gone. But they have gotten their fat salary and bonuses the last few years and this year!

Temasek only gives the numbers as such non-transparent figure called “total shareholders’ returns”, which include new assets injected into Temasek Holdings (this year will be CAAS) by the Singapore Government.

We don’t even know how much they (GIC & Temasek) have? How to assess their performance? Singapore is going down a slippery road. CHANGE is necessary!

An interview with Bloomberg not long ago, MM said something like I, mmm no, we do not need to report to anyone concerning our investments cos, its confidential . . . . see! what happened now! the truth is out.

I think by now, there will be lesser stupid people, who will vote for them..

C J
I think by now, there will be lesser stupid people, who will vote for them..

I am not that optimistic…come election…block of flats will be painted….electricity and utilities bills lowered and carrots handed out…all pain will be forgotten…at least temporary.

cfoo, I feel the same as you.
yes, there are supporters – they have awoken to something the rest have not.
but they are neglible in numbers – not enough to change anything.
do not be mistaken, it pains me to say what I just did.
i am convinced , it will take a lighting strike to shock the apathetic for them to just wake up a bit.

To post no.4, i think it is 20 to 30 years.

I can give credit to the argument that investments are for long term, and we do not see immediate or short term benefits. All I am saying is the compensation and benefits structure for people involved be pegged such that a part of the renumeration is only received when the gains are realised. Else, it’s hard to keep using a ‘long term benefits’ argument to defend the turf.

so husband helping wife.

should lah.

but if rich liao must not be too greedy.

let the citizen earn some.

citizen earn some?

please lah. LHL is not even sure himself if things will change or not. That’s why he said ‘can change’ mah!

what’s more, PAP is right that the people are easy to control…keep u stupid in school cos u have to mug everything, keep u stupid at work because of CPF and u must work if not gahmen won’t help you. So elections confirm everyone will be happy like bird when HDB upgraded what.

PAP has to run itself into the ground…ONE DAY!

All I am saying is the compensation and benefits structure for people involved be pegged such that a part of the renumeration is only received when the gains are realised. Else, it’s hard to keep using a ‘long term benefits’ argument to defend the turf. – kf (#26)

Well said, kf

Jack of all trades, but master of none.

When you have scholars trying to assume the roles of government, businessmen, salespeople, CEOs, bankers, big bosses, etc. you’ll be sure the country will get into deep trouble one day.

What’s the use to report that our GICs had made great profits in the past, but ordinary Singaporeans never felt rich. Now that they have incurred losses, our lives will be bound to be miserable.

Again, it will be left to us, the ordinary people, to brace up and do our little part to help our more underprivileged Singaporeans.

Wonder if they would ever get the job descriptions of a government correctly?!

on post 20,u ask me i ask who.

The problem here is again a lack of checks and balances in our system.

Ho Ching is the boss of GIC/Temasak and LKY is the Chairman of Temasak.

LSL is the vice Chairman of GIC. So you can see the problem in accountability here. Who will dare question Ho Ching’s judgement at work when she is more of a nemesis than just a corporate figure?

In the end, three of them will account for one another.

Maybe they have dinner and count their losses over the dinner table one evening?

LSL: Hi Ho Ching I heard that you lost alot of money lately by buying into BOA, ML, ABC and XYZ. Why your team so lousy? You told me most of them are experienced solid traders themselves.

LKY: Yalor Ho Ching, why so many losses? The zeroes we lost make me blurred and lost count. Did you check what they invest or not? Looks like all bogus trades to me.

Ho Ching: Aiya, it’s only paper loss hubby and papa. Don’t worry, the economy will turn around in 2-3 years’ time. I invest for the long term one. Anyway, it’s not my money mah, so my heart not so painful. Don’t worry also about the people in Singapore, they all just complaint only and after a while the storm will die down. We will be back to square one.

LSL: But so many Singaporeans complaint you know? Even the reporters I met over the past week asked me why so many losses. I am worried about the implication during the next election.

LKY: Yalor, why you buy into BOA and ABC? They are like dying stocks. You have no other stocks to buy mah? The stock market has at least one zillion companies to buy into.

Ho Ching: Papa, when my team looked into BOA/ML/Citi they are still the darling blue chip then. How do I know that this financial crisis will come so swift and devastating? I last counted we lost about $5 billion from the BOA investment alone. ABC sure die as the Australian co went into receivership. That one siong – we have realised loss of about half a billion. But papa, don’t you remember I help you make 8 to 10% returns the past ten years? This is only the first loss I make!

LSL: Ya but remember Shin Corp? That one also big loss you know. Easily 2 billion loss there as the value is slashed by half! Your investment team ok or not? Credible? It’s not my own money I know but I have to safeguard it also. People outside are unhappy. They keep asking is it becasue of all these losses that I increase so many things nowadays to recoup back the losses. Very difficult for me plus you are my wife…

LKY: Ya Ho Ching better buck up or else next election we may lose more seats to Workers’ Party. Now there is this Tan Kian Lian who stir up so many things in Hong Lim Park as if he owns the park himself. I am worried he may come up to no good. I have to ask my men to fix him up real good.

LSL: Don’t worry, I have already ask someone to dig his file. Soon, he will end up like the rest. Don’t worry papa.

The three of them have a merry good laugh after that and continue to enjoy their dinner together. They also cash in their millions every month.

“but the situation can change”

He doesn’t have any convictioni in what he’s saying: can change, not will change. Sigh… Case of Sheep leading the sheep, not lion leading the sheep? That would account for why we have silence from the PM whenever things brew up.

he said : “It looks under water now, but the situation can change.”

that is syntactically perfect.

but does it mean change for the Better or ….?

indeed long terms
our cpf withdrawal aged also been extended long term as well?
maybe till we are 99 perhaps?
how about the lta traffics situation
short term decision
increased the erp charges
and erecting more erp poles
this type of premeirship
who cannot do?
even ahmeng grandaughter
can also be prime ministress
hear people says
if you dipped seahums in under water
it sureLEE looked fresh as well
don’t beleived?
asked the senile minister
he a charkwaiteow king eater

aiyoyo

at the mean time

if lesser & lesser & lesser bread + butter,

do commoners still need to look at long term investments?

(燃眉之急）

aiyoyo

aiyoyo

those PEOPLE got so many top brains, scholars etc.

but see the current results/situation,

not sure why pay so much $$$ for them & get into this situation???

would not it be better to invest the $$ within the country??

is it because those PEOPLE got common dollar,

while commoners only got common cents (sense)??

aiyoyo