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Latest:
H1N1 cases in Singapore rise to 11. From CNA.
From Reuters:
LONDON/SINGAPORE, June 3 (Reuters) – Singapore state investor Temasek sold its stake in British bank Barclays Plc (BARC.L) several months ago at a big loss, people familiar with the matter said on Wednesday.
After spending over 1 billion pounds ($1.7 billion) on shares in Britain’s second-biggest bank in the last two years, unlisted Temasek may have lost over 800 million pounds on the investment, according to calculations by Reuters.
Temasek’s loss is in sharp contrast to Abu Dhabi which sold more than 11 percent of the bank’s shares on Tuesday, making a $2.5 billion profit in just seven months.
Temasek sold its near 2 percent stake in December and January, two of the sources said. The sources asked not to be named due to the confidential nature of the investment.
“It’s true that they sold in December/January,” a person familiar with the deal told Reuters.
It is further evidence that Temasek is shifting away from banks, after it lost about $3 billion on an ill-timed investment in Merrill Lynch.
Read the rest of the Reuters’ report here.
From the Straits Times, June 4:
Temasek and Barclays both declined to comment when contacted by The Straits Times Wednesday. A Temasek spokesman said: ‘We don’t comment on unsourced reports.’
re Spaceman,
if Temasek & GIC money not enough how to invest in long term? will Sporeans have to swallow more bitter pills to help them raise the money?
as good as telling a person with little disposeable income to invest in his/her future by setting aside more money for retirement, despite knowing that person is struggling with bread & butter issues.
LKY has put on record that he”s going to bring the army in if the opposition gains a majority in parliament;;;Looks like LKY wants to play POKER with the “PEOPLE”;;;LKY ‘, the people are not going to keep their cards close to the chest;;;If u bring the army in WE the people in our millions are going to flood the streets ;;;;;U want another Tian-An mian;;; WELL the people are ready;;;We want to see if the sons and the daughters are going to kill their fathers mothers sons wifes and kids;;;Come play some more POKER lky
#52) budamax1952
‘ LKY has put on record that he”s going to bring the army in if the opposition gains a majority in parliament;;;…….’
……………………………………..
He needs not bring in the army. There are numerous ways to frustrate the new government from running the country. The PAP-controlled President will still hold the key to the foreign reserves and approve the appointments of top civil servants.
The new government would find it difficult to dismiss former pro-PAP top civil servants and replace them with their own followers. The army and police would not carry out orders issued by the new rulers. Just remember what had happened in Thailand.
Edward#53;;; Give the “PEOPLE” a break;;;U think LKY would dare to bring the army in;;;U really underestimate the people dont u;;;Your bringing in minor technicalities about the president, foreign reserves and the civil servants is a popular ploy of LKY;;;After the opposition forms the new government in 10 years time LKY would have been dead by then and just like the typical kiasu people that singaporeans are the army police civil service president etc etc will be supporting the new PEOPLE’S govt;;;You wanna bet.
LKY has put on record that he”s going to bring the army in if the opposition gains a majority in parliament;;;…….
rofl ==>the army is the people, u anger the people u anger the army