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Thread: Why is Temasek snubbed again and again?

  1. #1

    Smile Why is Temasek snubbed again and again?

    their recent investment foray in the region has received less than desired reception in thailand and south korea. why?

  2. #2

    Default Re: Why is Temasek snubbed again and again?

    I don't know all the details, but hostile takeovers (as I believe the ones you refer to were) are never well received, anywhere.

  3. #3

    Smile Re: Why is Temasek snubbed again and again?

    were they hostile? i do not know.

    Quote Originally Posted by cyber_m0nkey
    I don't know all the details, but hostile takeovers (as I believe the ones you refer to were) are never well received, anywhere.

  4. #4

    Default Re: Why is Temasek snubbed again and again?

    Quote Originally Posted by reachme2003
    their recent investment foray in the region has received less than desired reception in thailand and south korea. why?
    Large local companies are a source of pride to the locals. I guess they perceive this as Singapore buying Thailand companies and taking all their profits.

  5. #5

    Smile Re: Why is Temasek snubbed again and again?

    actually, i see no need for temasek to be so secretive about its effective stake in Shin corp after its sale to mr surin. by being secretive, it only fuels speculations, opposition and unrest in thailand. btw, as shin corp is listed on SET, disclosure rules would require it to disclose their effective stakes respectively.

  6. #6

    Default Re: Why is Temasek snubbed again and again?

    It's about protecticsm and national pride. Try put yourself in their shoes. How would you like Bank Malaysia buys over OCBC? In reality, OCBC already has stakes in Malaysian banking sector but they are smart enough not to raise the Malaysian public sentiment by owning a majority share.

    BTW IMHO, the Temasek acquisitions are not hostile takeovers. Also there is no room for "being secretive" when it comes to acquisitions. Everything will have to declared in the stock exchange and the press, even before you make an offer.
    Last edited by hanafi; 23rd March 2006 at 11:36 AM.

  7. #7
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    Default Re: Why is Temasek snubbed again and again?

    Philippines, Japan, S. Korea, and Thailand are more protective of their economies than other nations in Asia. Singapore's strategy for development is quite different from theirs as their local markets are much larger (Singapore has nowhere to look but outwards, as it were).
    Last edited by nobu; 23rd March 2006 at 11:36 AM.

  8. #8

    Default Re: Why is Temasek snubbed again and again?

    1. Because of nationalist sentiments, mistaken patriotism and outright pure xenophobia.

    2. Because of internal politics in Thailand, the opposition are using this as an issue to advance their cause in bringing down Thaksin.

    The former depends on the maturity of a people, but in many cases, it's always easy to play up nationalist sentiments as people always have an innate dislike of foreigners to begin with.

    The latter is very sad, first, if Thaksin really owns his company, then Thaksin has every right to sell to whomever he chooses, whether local or foreign. Second, Thaksin structured his deal very carefully to avoid paying taxes, it's legal if you learn how to exploit the tax loopholes (that's why you pay so much to the tax lawyers, accountants and investment bankers) but the opposition are playing this up to try to bring him down.

    I guess Thaksin forgot that he can no longer act like a wheeler dealer businessman, as a prime minister, even if what he did was perfectly legal, his political opponents are sure to pounce on it, and now he's paying the price with the daily protests and possibly being forced out of office, all because he benefited from the sale of his company (even if there's nothing illegal about making profit).


    Wai Leong
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    Quote Originally Posted by reachme2003
    their recent investment foray in the region has received less than desired reception in thailand and south korea. why?

  9. #9
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    Default Re: Why is Temasek snubbed again and again?

    If US bank want to buy over DBS or China airline want to buy over SIA, you think Singaporeans will sit and say nothing about it?

  10. #10

    Default Re: Why is Temasek snubbed again and again?

    Quote Originally Posted by Astin
    If US bank want to buy over DBS or China airline want to buy over SIA, you think Singaporeans will sit and say nothing about it?
    I seriously doubt many would care

  11. #11
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    Default Re: Why is Temasek snubbed again and again?

    Quote Originally Posted by Geckorian
    I seriously doubt many would care
    Or, what about if Russian tycoon want to buy over HDB, would u care?

  12. #12

    Default Re: Why is Temasek snubbed again and again?

    Quote Originally Posted by Astin
    Or, what about if Russian tycoon want to buy over HDB, would u care?
    Might be a good thing. Don't quite like the way it's run now anway

  13. #13

    Default Re: Why is Temasek snubbed again and again?

    I think it's because of the fact that it's well known that Temasek Holdings is the investment arm of the Singapore Government and not just a major company. So in essence, the Singapore Government is buying into these businesses and no citizen wants another country's govt to control their own country's businesses.
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    Default Re: Why is Temasek snubbed again and again?

    Quote Originally Posted by Geckorian
    Might be a good thing. Don't quite like the way it's run now anway
    “How fortunate for leaders that men do not think.” - Adolf Hitler

  15. #15

    Default Re: Why is Temasek snubbed again and again?

    Quote Originally Posted by Astin
    If US bank want to buy over DBS or China airline want to buy over SIA, you think Singaporeans will sit and say nothing about it?
    Since they already got Raffles hotel.... i don't think there is much they can't get if they really want to.

    Buying over HDB? haha good idea!!!! i hope some foreigner will do that!

  16. #16

    Default Re: Why is Temasek snubbed again and again?

    Quote Originally Posted by Nisa
    Buying over HDB? haha good idea!!!! i hope some foreigner will do that!
    Then you'll never get affordable housing - spend the next 40 years trying to pay off the debt of your 3-room flat!

  17. #17
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    Default Re: Why is Temasek snubbed again and again?

    Our close links between the Govt and Temasek is undeniable.Therefore you have the association that Temasek = SG Govt.

    If we don't do something about it, there will be further barriers to investment abroad.Not everything is about pure economics.Values-based and ethical investment concepts are catching on, and this backlash against globalisation is not going to go away just because you believe whole-heartedly that we are only out to make money.

    Others will not see it that way, AND national pride to many, is more important than funds coming in.Call it the blowback of Doha or Davos, whatever you might want to call it, but the slate for foreign takeover of state/near-state industries is not particularly attractive at the moment.

    Therefore, Temasek should tread carefully, or deal with the reality that is presented, not the reality they wish they could have.
    We live in an age when unnecessary things are our only necessities. - Oscar Wilde

  18. #18

    Default Re: Why is Temasek snubbed again and again?

    Aiyah, such things also happen in the 80's when Japan was literally buying the whole world with their newly minted Japanese Yen. Those days when 100Yen = US$1...

  19. #19

    Default Re: Why is Temasek snubbed again and again?

    Quote Originally Posted by Ah Pao
    Then you'll never get affordable housing - spend the next 40 years trying to pay off the debt of your 3-room flat!
    oh! u meant ppl are not doing it now?

  20. #20
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    Default Re: Why is Temasek snubbed again and again?

    Actually, I always wonder why Temasek must invest overseas and buy companies overseas? Should not they invest in Singapore and create more jobs here?

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