Comments on: Temasek: Lose so much, tell so little?

By: tiredsingaporean

tiredsingaporean — Fri, 29 May 2009 16:30:50 +0000

86) Daniel on May 29th, 2009 2.56 am

$58 billions ? Do you believe they only lost this much ?

Thats the reason why those MIW and their party will not, at all cost allow to lose in the next coming GE, or else those real figures and many other hidden stuff will start surfacing, and those involved knows damn well that they will be in real deep shit. Opp parties, please be strong and united to help Singaporeans seeking to find out nothing but the whole truth of what’s been hidden from the people all these years.

By: James

James — Fri, 29 May 2009 16:21:25 +0000

i m not sure how tharman for the figures abt th doing well nett since mar 03. for example, do we noe if sales of local assets are available viz losses from overseas investments?

By: KopitiamApek

KopitiamApek — Fri, 29 May 2009 13:02:32 +0000

By long term, Temasek is refering to the gains made since the Big Bang. Archaelogical records in of National Archives will give concrete evidence that when the Big Bang occured, the value of Temasek Holdings was zero. So mathematically, the gains made is infinity.

So what are we complaining about. It’s Long Term !

By: how i wish the whole nation is highly educated

how i wish the whole nation is highly educated — Fri, 29 May 2009 04:29:29 +0000

87) Lies, Damn Lies & Statistics on May 29th, 2009 12.13 pm

Not lies lah, just presentation at the finest. We must learn how this presentation is done lah. How I wish the whole nation is highly educated in this area.

Since he mentioned 6-year cycle. It would be nice if he could give us the 6-year rolling performance since the inception of funds also giving breakdown performance both from local assets and foreign assets. Hey did I mention local assets ? Just like in football, you have home advantage right ? Just imagination lah.

By: Lies, Damn Lies & Statistics

Lies, Damn Lies & Statistics — Fri, 29 May 2009 04:13:38 +0000

Tharman’s defence of Temasek in Parliament is just another of those pull wool over your eyes method.

Tharman, while attributing a large part of the fall in value of Temasek from March 2008 to Nov 2008 to the decline of the share prices of its Singapore owned companies (GLCs) but failed to furnish figures to show how much of the supposed gains of Temasek value from 2003 to March 2008 to its portfolio of holdings in the GLCs, not to mention the receipts from the sale of the 3 Temasek owned POWER STATIONS totaling $12 billion. Singaporeans should ask Temasek/Tharman what Temasek’s COST of the 3 power stations ORIGINALLY including most importantly the LAND cost of builidng the power stations and whether the cost of land component of the power stations sold to overseas investors were valued at the then current market price when the sale took place.

By: Daniel

Daniel — Thu, 28 May 2009 18:56:45 +0000

Sideline Watcher.
Some of the gain may as well due to selloff of all electricity plant station of Singapore. This is not gain that attribute to competency but mismanagement. It is traitorous to sell off national asset to feed their gambling addiction.

$58 billions ? Do you believe they only lost this much ?

By: mice is nice

mice is nice — Thu, 28 May 2009 17:49:31 +0000

world class only on paper!!

look at most of the international rankings. in reality ler…

PAP(er)?

By: eat dead cat

eat dead cat — Thu, 28 May 2009 17:01:17 +0000

Accountability ?

Ruling without true representation for 2 decades, results in such mess, are we world class nation ?!?!

By: Sideline Watcher

Sideline Watcher — Thu, 28 May 2009 11:02:05 +0000

Wah! Breaking News!!! Just heard from the 6.45 pm news on the way home that Tharman mentioned about the $58 billion contraction of TH. Said we must look in perspective of the over$100billion (didn’t hear properly exactly figure) gain TH had in the last 5 years. BIG DEAL!!! GAINED more than $100 billion in 5 years i.e 60 months and LOSE $58 billion in 6 MONTHS???? Aiyah, can still praise people at TH, meh??? They have already got heir pay and fat bonuses for the last 5 years for their efforts. So it’s payback time when they LOSE $58 billion in 6 months. NO iron rice bowl, pay according to MARKET RATE WAGES, so when NON OR UNDER PERFORMANCE, must also take RESPONSIBILITY and GET FIRED!!!!

By: Sideline Watcher

Sideline Watcher — Thu, 28 May 2009 09:34:47 +0000

Hey, why keep talking about the 2-4 billion we have lost selling BoA shares??? Just on the 31% contraction of TH from Oct 08 to Mar 09 amounts to $58,000,000,000!!! Yes, $58 BILLION!!! and the 21% contraction of GIC??? $2-4 billion is PEANUTS!!! We should FOCUS on the loss of both TH & GIC owing to the contraction of their portfolio! We do not EVEN know if it is PAPER LOSS or ACTUAL, if some of the shares in the portfolio have already been DIVESTED at a LOSS. What’s the point of a 2nd KEY just to get a $4.9billion for so called workers welfare(last Budget) when more than $58billion minimum have GONE DOWN THE DRAIN!!! Even the most IDIOTIC fund manager will know WHEN TO TAKE PROFIT and not WASTE $58 BILLION! and in 6 SHORT MONTHS!!! Both TH & GIC really GOOFED BIG TIME!!!
OH, IT HURTS SOOOO MUCH WHEN NOBODY BOTHERED TO BRING THEM TO TASK!!! and INSTEAD tried to PACIFY us with the LUNATIC IDEA that IT WAS ALL FOR LONG TERM. Just WHO are they trying to KID??? HEADS SHOULD ROLL especially when TH & GIC staff are supposed to be TALENTED and so WELL PAID!!! NO EXCUSES! NO EXCUSES! NO EXCUSES!
WE WANT ANSWERS! WE WANT ANSWERS! WE WANT ANSWERS!!!

By: Ho Peng Yew

Ho Peng Yew — Thu, 28 May 2009 07:26:32 +0000

We seems to be stumbling from from one blunder to another on a slippery slope down the tubes. There was a time when those at the helm used to run a pretty tight ship. But nowadays it seems that this 3rd generation highly paid scholars in their ivory towers, running various gahmen ministries and the areas under their perview, are totally out of touch with the ground. Just recalling the actions of LTA/SLA, Home affairs, Finance etc… can make one’s blood boils.

This TH fiasco would just be added to the list of memorable quotes from our Ministers/MP etc…

I am always reminded of a famous quotation from Lord Acton which I first heard in school – “Power corrupts and absolute power corrupts absolutely”. Given time and without adequate checks and balances this will always be true.

By: Can the President can know the details?

Can the President can know the details? — Thu, 28 May 2009 03:51:09 +0000

Can or no-can?
If can, we should be asking the president to help check right?
I mean he is our elected president based on justice and equality that we as society helped achieved and he is the independent one that can oversee right?

We should be responsible for our decisions made. Asking on the internet, who has ever received THE answer? I am sure none. Maybe they nono these questions exist?

regards
We Are Responsible – the hardest truth

By: Educator

Educator — Thu, 28 May 2009 01:55:49 +0000

Recommended reading “THE MONEY TRAP” by Ron Gallen…..Interesting!
Blame no one except youself ! Live within your means.

By: RecessionBlues

RecessionBlues — Thu, 28 May 2009 01:29:36 +0000

#77
At 62 no MNC wants you so just stay home and observe events unfolding!
If I were at your situation, I believe you will have to work till 70 or later …….as you mentioned Heart Attack but put it in perspective as what I term SDS = Sudden Death Syndromes are all stress related……really cannot balance ones own balance sheet……..such as outstanding HDB or Private Housing Loans, restricted investment opportunities unlike before, Medical Insurance to ponder, High Cost of Living and many many stress related problems to tackle.
Best Bet is for a Big Windfall or in the worst case scenario Wait for END Times or New World Order!

By: Hope

Hope — Wed, 27 May 2009 17:18:24 +0000

#59) RecessionBlues– well said, after 12years, I still owes S$170K. I took a loan of S$210k . When I ask the officer., pls explain? it must be interest lor. I still got 13 more years to pays my instaLment.. Now I cannot sell, I need to put aside S$106k in CPF and S$170k outstanding loan. Tell me how to get out of it. PAY And PAY until I Die lor.
No wonder No.1 high risk- HEART ATTACK.
God’s 2nd coming? how come still dun come, I cannot wait until 20-12-2012

By: FACT PLEASE

FACT PLEASE — Wed, 27 May 2009 15:12:13 +0000

Re{

67) A Tan on May 27th, 2009 8.07 am

Why Temask sold BoA shares

It is conventional wisdom that banks with littele emerging mkt exposure will underperform

” there seems to be broad consensus among industry observers that average returns on equity through the economic cycle will be in the low- to mid-teens henceforth, well down on the 20%-plus achieved before the current crisis.

Another way of looking at the industry is to compare its growth with GDP growth. In emerging markets, the industry should still be able to grow faster than GDP as the use of financial products spreads. In mature markets, with the turbo-boost of leverage gone and bank balance-sheets still to be slimmed, a growth rate in line with GDP is probably as much as can be hoped for.”

Economist

————-

“Emerging markets”, so says the Economist.

Is India not an emerging market?

Yet Temasek also sold its entire stake of 3.6 million ADS of India’s largest listed bank, ICICI which is also listed on the New York Stock Exchange, as mentioned in the Dow Jones report which also mentioned that Temasek sold its Bank of America shares at an average price of US$7 per BOA shares with a total loss of US$4.6 BILLION which is equivalent to about S$6.9 BILLION.

By: BlackDogBone

BlackDogBone — Wed, 27 May 2009 12:35:32 +0000

#70

Too many Abbreviations (Stressed out) can cause SDS-Sudden Death Syndromes too.
Any idea on RECESSION Index here?

By: jacko

jacko — Wed, 27 May 2009 11:33:16 +0000

I was wondering what will happen if any opposition members were to create such a mistake? I am sure it will be definitely be drastic & dramatic & loads of firing!!!

By: The fading red dot

The fading red dot — Wed, 27 May 2009 10:56:07 +0000

How much is S$5B loss ?

It is roughly

1) The original North-South, East West MRT network, each has 26 MRT stations

2) Says, 5 Sport Stadium Hub

3) 10,000 old folks home with 500 bed each ?

4) 1,322 months, 0r 110 years of our PM salary

5) How many A380 SIA can buy ?

6) 3,000 HDB block to add with 2 new lifts without charge to residents

All this just vaporized in 7 months, how sad, will Temasek do the same if this is thier own pocket money ?

WHERE IS THE ACCOUNTABILITY ???

By: Cynthia

Cynthia — Wed, 27 May 2009 09:28:22 +0000

When you pay tope salaries – you expect top performance and if that is not coming – you simply remove the individuals . This has been the case with croporate world. We ahve a a situation where we pay top corporate salaries with no requirements for performance and no accountability . If this is not corrected, we will breed a class of highly overpaid but very mediocre politicians – our fate is sealed .