Home » Posts tagged with "temasek"
Posts tagged with "temasek"
Temasek’s revised charter downplays Singapore links
Aug. 25 | From Reuters: SINGAPORE, Aug 25 (Reuters) – Singapore state investor Temasek Holdings [TEM.UL] on Tuesday issued an updated charter that described the fund as an investment firm managed on commercial principles, dropping a reference to its role...
PAP ND Message – Words are hollow without moral leadership
Aug. 20 | Khairulanwar Zaini How do you reassure a jittery nation to remain trusting, mollify an insecure populace that is increasingly vocal while sounding a note of sombre caution of unforeseen valleys ahead? Bank on truisms and leave much unsaid, as Prime...
Ho Ching named 5th most powerful – and first lady
Aug. 20 | “Forbes’ Power Women list isn’t about celebrity or popularity; it’s about influence,” says the American publishing and media company, Forbes. It names German Chancellor Angela Merkel as the Most Powerful Woman in the world, for the...
Lee Kuan Yew: “All around us is evidence of our accountability.”
Aug. 20 | We’re here today, we have this building, we have all these facilities, and all around us is evidence of our accountability. Without being accountable, we would not have been re-elected and there would have been no Singapore of today. MM Lee Kuan...
A mockery of Parliament
Aug. 20 | Leong Sze Hian / Andrew Loh Minister fails to realise the consequences of his remarks and actions in Parliament In 2005, then-Minister for Education, Mr Tharman Shanmugaratnam, was the guest of honour at a youth and media conference. The key theme was...
Did Goodyear receive a golden handshake?
Aug. 18 | It’s useful for the Government to say if we did pay him, how much it was and whether it was justified. I would be concerned if it was a huge sum of money. PAP MP Lim Biow Chuan, referring to Charles Goodyear who was formerly employed by Temasek.
Ho Ching’s Temasek appointment is not decided by the Prime Minister, says High Commissioner
Jul. 28 | The following is from Times Online website: Sir, Your article (“Singapore’s Temasek scraps plan to bring in Goodyear ”, July 22) claimed that Ms Ho Ching’s “status as both head of one of Singapore’s two sovereign wealth funds and wife of the...
Help for workers over two years is miniscule compared to Temasek and GIC’s losses
Jun. 7 | The Government has spent over $1.1 billion from 2006 to 2008 helping low wage Singaporeans . Ministry of Manpower
TOC editorial: Temasek’s non-answer
Jun. 6 | Temasek’s evasiveness is only going to fuel speculation and ire. The tide of Temasek-related bad news seems almost interminable. Weeks after reports that the government’s main holding company had to endure a huge write-down after selling its stake...
GIC, Temasek and transparency
Jun. 5 | Ho Ching, Chief Executive of Temasek Holdings The latest revelation by Reuters that Temasek has off-loaded its stakes in Barclays Bank, resulting in an estimated loss of more than a billion dollars, is worrying. This comes on the heels of Temasek...
Temasek is “most transparent”
Jun. 5 | Singapore’s investment firm Temasek Holdings has been ranked as the most transparent sovereign wealth fund (SWFs) in the first quarter of this year. Channel NewsAsia
Temasek losses – Enough is enough
Jun. 4 | Straits Times, Front Page, 29 May 2009 Leong Sze Hian Both the Merrill and BoA losses came to light only after securities filings in other countries or when international news agencies reported them – and were not voluntarily disclosed by Temasek...
Temasek: Lose so much, tell so little?
May. 25 | Leong Sze Hian / Columnist In the annals of investment history, perhaps never has so much been lost in so short a time! Will Singaporeans ever forget when they woke up on May 16 to discover that – “Temasek sells BoA stake: Move in line with fund’s...
In a culture of secrecy, no courage is required
May. 17 | Ravi Philemon “A Temasek spokeswoman declined Friday to comment on the price the fund sold its shares for or the timing of the sale”, reported the Associated Press. Why should the secretive Temasek Holdings reveal such sensitive information to a...
Temasek, “no regrets” for $6.8bn loss?
May. 16 | From Gerald Giam’s blog: While I believe Singaporeans accept that in all investments there will be ups and downs, Temasek and the government cannot hide behind this flimsy excuse for realising as large a loss as this. This is a national scandal! Where...
PM Lee on Temasek, GIC and ministers’ salaries
Mar. 20 | This is the transcript of part of the interview which the British Broadcasting Corporation (BBC) had with Prime Minister Lee Hsien Loong.You can listen to the podcast of the interview here. Watch BBC’s report (on video) on Singapore’s economy here. BBC:...
MM Lee & Ho Ching make life difficult for PM Lee?
Mar. 20 | Life would be much easier for me if MM were not my father and Ho Ching were not my wife. But they’re there. This is the way Singapore has worked. Singaporeans have understood this is how the system works. And they’ll render judgment when elections...
Singapore’s GIC RE unfazed by $360m hit
Mar. 20 | From The Australian: IN less than a year, one of the world’s top 10 property investors, the Singapore-based GIC Real Estate (GIC RE), has lost more than $360 million in just two investments in Australia. The losses stem from the collapse in the...
GIC losses – foreign media more important than Parliament?
Mar. 16 | Leong Sze Hian The reply in parliament last month, to the question on GIC’s losses, was that it was “substantially lower” because of its more conservative lower risk portfolio. The actual loss amount was not revealed. It was only three weeks later,...
Citi Rescue Gives Prince, Singapore Sweeter Terms
Mar. 2 | It’s good to be a Saudi prince. And it’s good to be an investment company backed by the government of Singapore, or a former Citigroup chief executive. Bloomberg
Sense of balance when dealing with retrenchments
Mar. 1 | I know people say why didn’t you help the households more directly. But the right way to help people now is not to give them vouchers or coupons to spend, but to help them keep their jobs, and this is where the emphasis of the Budget was… —- If...
From public to private?
Mar. 1 | Leong Sze Hian I refer to media reports about the corporatisation of Changi airport, and that business at Changi airport has also been affected by the recession. Some questions that have been raised are: Who benefits from the transaction when a state...
Losses but not “indisreputable”
Feb. 26 | This is not a disreputable record. The PM’s press secretary, on Temasek and the GIC’s performance
What the Temasek debacle reveals
Feb. 25 | Aloysius Foo A Temasek wrapped up in a mystery within the abyss of the Singapore economy Public displeasure should be directed correctly, for it to be effective. The recent revelation, that Temasek Holdings has lost 31 percent of its net portfolio value...
Reserves – more or less?
Feb. 23 | Notice: The organisers of the “Our Thoughts are Free” book launch has kindly requested that the announcement be removed from TOC. More details will be given at a later date. Leong Sze Hian Why can’t GIC’s losses be revealed like Temasek’s? I...
Blog Feature: Make it compulsory for President to make public his decisions
Feb. 19 | Today’s Blog Feature is from Gerald Giam, “Greater transparency needed for Presidential decisions”, on President Nathan approving the government’s draw on the reserves. Here are excerpts from Gerald’s post: Firstly, the President should be required...
No more 56-man years to know reserves
Feb. 18 | Straits Times: When you made the decision, did you have the information on like how big our reserves, how much of a draw this would be on the reserves…? President Nathan: Of course I have. Of course I have. Straits Times, 18 Feb 2009
Your money at work and the curious disappearing acts of the prime minister
Feb. 18 | Latest: The Government Gazette has revealed that changes have been made to polling districts. Such changes are part of the steps that need to be taken ahead of a General Election. (Straits Times) Andrew Loh “This is your money. You have a right...
Explanations were not called for
Feb. 18 | It would be presumptuous on my part to go forward and start to give explanations when explanations were not called for. President SR Nathan, when asked if he could have held the press conference before the start of the Budget debate (Straits Times,...
President Ong’s interview with Asiaweek – revisited
Feb. 18 | In light of President Nathan’s press conference where he explained why he approved the government’s request to use the reserves, we re-publish former President Ong Teng Cheong’s interview with AsiaWeek (10 March 2000) where he revealed the obstacles...
“My loyalty is, first and foremost, to the people of Singapore”
Feb. 18 | Jason Lee Watch the video of President Nathan’s press conference at the Istana below. An Elected President can do more to protect our interests – regardless of whether he is an executive or non-executive president. I became worried when I first...
GIC lost $33 billion, according to sources
Feb. 17 | Breaking News: THE registers of electors here are due for an update, and the Prime Minister has directed that the revision be done by April 30. (Straits Times) From Bloomberg: Feb. 17 (Bloomberg) – Government of Singapore Investment Corp., one...
Where is the President?
Feb. 16 | Mr Nathan, as President, you must take the initiative to release the above information for the public to know. You are a very close friend of Lee Kuan Yew. But he is not your boss. You do not need to save face for them by covering up their mistakes....
Blog Feature: Did Lim Hwee Hua say GIC lost 41% of investments?
Feb. 16 | Today’s blog feature is from Koh Choong Yong on his attendance of the recent Parliamentary debates and how Mrs Lim Hwee Hua had slipped up in revealing that the GIC had lost 41% of its investments. Excerpts: There was also one incident which I witnessed,...
Extraordinarily bad times
Feb. 15 | These are extraordinarily bad times for many Singaporeans. Littlespeck
The GIC tsunami next?
Feb. 11 | After Temasek comes the GIC tsunami GIC started the crisis with roughly Singapore $550 billion in reserves. My estimate is that it has lost about $190-$200 billion of that, leaving it with about $350 billion left. This amount is equivalent to 200 per...
$58 billion loss by Temasek
Feb. 10 | $58 billion loss The state-owned investment company’s (Temasek Holdings) assets were valued at S$127 billion ($85 billion), down from S$185 billion at the end of March last year. Senior Minister of State for Finance, Lim Hwee Hua
A problem child
Jan. 2 | The problem child of Temasek Holdings, the Singapore state investment company, Chartered is the world’s third-largest foundry chipmaker. … Analysts estimate that Chartered will lose money until at least 2010, including a loss of at least $30m...
Temasek, GIC… situation can change
Dec. 5 | The situation looks a lot gloomier now than when they went in but these are long-term investments. It looks under water now, but the situation can change. PM Lee on Temasek and GIC investments
Leading by example
Nov. 21 | The firm (Temasek Holdings), which oversees $130 billion, said senior management has volunteered a 15 percent to 25 percent pay cut. Bloomberg
Population and national investments – missing numbers
Sep. 29 | Leong Sze Hian / Columnist I refer to the Department of Statistics’ reply “Number of S’pore citizens growing” (ST, Sep 20) to Michael Eng’s letter “Is the population of Singapore citizens shrinking” (ST, Sep 18). It states that: The number...
