Results 1 to 16 of 16

Thread: Temasek reportedly has paper losses amounting to over S$2b

  1. #1

    Default Temasek reportedly has paper losses amounting to over S$2b

    http://www.channelnewsasia.com/stori...401120/1/.html

    Temasek reportedly has paper losses amounting to over S$2b
    By May Wong, Channel NewsAsia | Posted: 08 January 2009 2018 hrs

    SINGAPORE: London's Financial Times said Singapore's Temasek Holdings has paper losses amounting to over US$2 billion. These losses are in relation to its stake in Merrill Lynch, which Bank of America acquired last week.

    The report said its conclusion is based on publicly available filings. Meanwhile, Temasek has declined to comment on the statement.

    The report added that the loss is emblematic of the damage the financial crisis has on sovereign wealth fund investments in the banking sector.

    About 40 per cent of Temasek's portfolio is in the financial sector.

    The report also said the company has already suffered paper losses on other investments, including Barclays and Bank of China.

    Temasek had invested some US$5 billion into Merrill Lynch between December 2007 and February last year.


    - CNA/so

  2. #2

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    heard that hong leong is in trouble as well....

  3. #3

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    That means every Singaporean losses $660.

  4. #4
    Senior Member sammy888's Avatar
    Join Date
    Sep 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    1,568

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Quote Originally Posted by Silence Sky View Post
    That means every Singaporean losses $660.
    And....no heads will roll.

  5. #5

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Quote Originally Posted by sammy888 View Post
    And....no heads will roll.
    Noooooo.... never will
    The stupiest + dumnest investment = long term investment.

    Every Singaporean must say thank you to Bank of America for saving our arse by taking over Merril Lynch.
    Last edited by Silence Sky; 9th January 2009 at 09:32 PM.

  6. #6

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Not forgetting our $Million mind also screwed us up a few billion on the Shin Crop deal.

  7. #7

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Quote Originally Posted by sammy888 View Post
    And....no heads will roll.
    Because they are the first to implement pay cut

    Pay cuts at Temasek
    By Francis Chan

    90 per cent of the anticipated wage savings will be borne by Temasek's key managers.
    SINGAPORE investment company Temasek Holdings has emerged as the first employer here to publicly announce a company-wide round of pay cuts.

    'We anticipate a global recession in 2009 and possibly beyond. Therefore, Temasek will institute a firm-wide wage cut, led by senior management who volunteered 15 to 25 per cent,' said Temasek's managing director for human resources, Mr Robert Chong.

    He said 90 per cent of the anticipated wage savings will be borne by Temasek's key managers.

    Temasek currently manages a portfolio worth about $130 billion, which is invested both at home and abroad.

    'As a long term investor, we believe this current crisis will throw up tremendous opportunities,' added Mr Chong in his email to The Straits Times on Friday night.

    'Yet, we also recognise the short term challenges and will adjust our actions appropriately.'

    Despite the extensive wage cut, Temasek still expects to expand its staff strength by 15 per cent over the next two years.

    'This is part of our longer term plan to have a staff strength of about 500,' said Mr Chong.

    According to its latest annual report, Temasek has 'a 350-strong international team' based in Singapore.

  8. #8
    Senior Member
    Join Date
    Jun 2005
    Location
    SGee
    Posts
    1,572

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    should invest more in enhancing the value of its people so can earn more make Sg richer mah. most peps income never raise much in good times, bad times dun need to say ler...
    have u seen the "light" yet?

  9. #9
    Member
    Join Date
    Mar 2004
    Location
    bukit batok
    Posts
    1,478

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    would love to see them fold even though is not possible...

  10. #10
    Senior Member azul123's Avatar
    Join Date
    Dec 2004
    Location
    Eastern Bloc
    Posts
    2,776

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Quote Originally Posted by Simon_84 View Post
    would love to see them fold even though is not possible...
    They fold means we fold you know? cannot lah...

    ../azul123

  11. #11
    Member luntut's Avatar
    Join Date
    Oct 2007
    Location
    Punggol
    Posts
    1,883

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Quote Originally Posted by Simon_84 View Post
    would love to see them fold even though is not possible...
    you are out of your mind.

    this is one company i hope it never folds.

    else i am gonnna be the first to migrate.
    Fast Camera. Fast Lens. Slow Me. Sigh.
    My Flickr

  12. #12

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Quote Originally Posted by zaren View Post
    heard that hong leong is in trouble as well....
    What did you hear, can PM me? I heard otherwise leh, never did a check myself though.

  13. #13
    Senior Member
    Join Date
    Jun 2005
    Location
    SGee
    Posts
    1,572

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    fold fold fold... din know origami so popular!
    have u seen the "light" yet?

  14. #14
    Senior Member
    Join Date
    May 2004
    Location
    Sengkang
    Posts
    2,922

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Why are you guys crying foul over several peanuts?

  15. #15
    Senior Member
    Join Date
    Jun 2005
    Location
    SGee
    Posts
    1,572

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    Quote Originally Posted by hazmee View Post
    Why are you guys crying foul over several peanuts?
    wait ants/cockroaches come? betta sweep the floor kleen.
    Last edited by sORe-EyEz; 12th January 2009 at 05:21 PM.
    have u seen the "light" yet?

  16. #16
    Moderator ortega's Avatar
    Join Date
    Nov 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    23,686
    Blog Entries
    7

    Default Re: Temasek reportedly has paper losses amounting to over S$2b

    all investments have risks involved

    if you know of one that does not, please let me know
    thread closed

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •