GIC makes profit?

gasband SG

No one talking abt this? http://sg.news.yahoo.com/rtrs/20090922/tap-gic-citi-c3bb44c.html

Or its all abt criticising the bad but not giving credit for the good?

Or maybe this is part of a media conspiracy and these news are false and just propaganda?

Humour me pls.

charlize SG

You should check out other forums which are more politically motivated than sgforums.

If I can recall correctly, they did not report on their other sales of Barclays and Merill Lynch/BoA shares which people only found out when it was reported in the foreign news agencies like Bloomberg and Reuters. (These were sold near the lows of the stock market by the way - making realised losses.)

Aren't they long term investors?

gasband SG

I think this report did mention that Temasek lost 4 billion from an early exit from Barclays and BOA.

What I am interested is, over here, people seem to be politically motivated just to criticise the current government linking every single good news to a media propaganda and pouncing on all bad news like the NZ falcons would on road kills. Haha sorry I know I will not get anywhere with this but just voicing how amused I am with the regular participants here.

Fantagf SG

I think this report did mention that Temasek lost 4 billion from an early exit from Barclays and BOA.

What is the fuss? You should go read other forums, they are worse. Nothing wrong giving comments on Temasek.

gasband SG

no fuss no fuss. It is true that Temasek made a 4 bil loss. And they should answer for it and make amends for it. And when that news broke, alot of people pounced on it. But now that GIC announced they made money, when no credit for that? I dun care abt the government really but from a business point of view, I would give credit when its due. And as I said, i am just voicing my amusement of the people in this forum how they have gone quiet when good news like this breaks out.

angel3070 SG

So lost more or made profit more?

charlize SG

I think this report did mention that Temasek lost 4 billion from an early exit from Barclays and BOA.

Everybody has their own biasness moulded by events that have touched his or her own lives.

You have yours just like I have mine.

You also need to understand the use of the internet as an outlet for people to vent their frustrations or to offer other alternative viewpoints which are not readily available in the mainstream media.

Just like the regular praising of the government and how good it is to live in singapore theme is often being replayed ad nauseum in the local media, over the internet, the reverse is true - people criticize and point out flaws.

The plethora of viewpoints and opinions are just that - it depends on what you want to believe in. No one side is wrong per say. Gotta accept that nobody has a monopoly of ideas in this internet age.

Fantagf SG

To me I am not too fast to give credit as yet after all they lost so much in the past. There are people who are still continuing to monitor their performance. This deal may not be good enough for them to cover all the losses they made in the past.

gasband SG

Well, Temasek lost 4 billion and GIC made 1.4billion.

So GIC win. So whats your question really?

gasband SG

Everybody has their own biasness moulded by events that have touched his or her own lives.

You have yours just like I have mine.

The plethora of viewpoints and opinions are just that - it depends on what you want to believe in. No one side is wrong per say. Gotta accept that nobody has a monopoly of ideas in this internet age.

Opinions understood.

charlize SG

Well, similarly for the sg government (and probably everybody else for that matter), they will choose to highlight their achievements and downplay any shortcomings.

GIC makes 1.6 billion selling citi shares - front page of the newspaper.

Barclays, MerillLynch/BoA - sold at the lows and realising a big loss. Not reported or reported in a small paragraph somewhere deep in the local newspaper.

We all have biasness.

gasband SG

of cos of cos. that is the assumption they lost more than they earned. I am not about to search internet for proof of how much they earned vs how much they lost. Temasek says since their inception, they have made gains on their portfolio of around 15%. I dun know how true is that, could be media propaganda again . As I said from a business point of view, if this year I made a loss, it is of cos bad. But if the next year, I made a profit, even it is doesnt cover the loss in the previous year, why should there not be credit given? thats how it works in the corporate world. Why is it different here? Of cos, lets see how their performance is in 2010 before we give further credit. But for now, they have done well.

Fantagf SG

just keep fingers crossed that this is just the beginning of the many profits in time to come

guess people are stricter in this as we are well aware it is the money of the people of Singapore the govt is using for investment.

gasband SG

Well, similarly for the sg government (and probably everybody else for that matter), they will choose to highlight their achievements and downplay any shortcomings.

GIC makes 1.6 billion selling citi shares - front page of the newspaper.

Barclays, MerillLynch/BoA - sold at the lows and realising a big loss. Not reported or reported in a small paragraph somewhere deep in the local newspaper.

We all have biasness.

I can certainly agree with your first statement, that it is all the same with every single company in this world. Everything that appears on media is a PR exercise. But whether it appears in 2 small paragraphs or one big chunk of front page, it doesnt matter. To me, it is still, bad news is bad news. Good news is good news. But I get what you mean.

gasband SG

just keep fingers crossed that this is just the beginning of the many profits in time to come

guess people are stricter in this as we are well aware it is the money of the people of Singapore the govt is using for investment.

Definitely. It is the same when the stress on us to be accountable to shareholders. They are similarly accountable to the citizens. Lets not make their jobs more difficult by giving them undue criticism and not giving them due recognition. I always believe in a coporate world, natural elimination always take place. When they are not good enough, they will be elimnated naturally. No need for us to attack them.

angel3070 SG

But whether it appears in 2 small paragraphs or one big chunk of front page, it doesnt matter.

It matters.

It really matters.

angel3070 SG

When they are not good enough, they will be elimnated naturally.

Like Ho Ching?

Or Lee Kuan Yew?

Fantagf SG

I don't blame anyone to give criticisms and comments about them. They are accountable. Who is going to speak for us when we the people who are feeding the ruling party are not fairly treated by the ruling party?

gasband SG

It matters.

It really matters.

Fine if it matters to you. It doesnt to me. So your views are accepted.

Fantagf SG

Like Ho Ching?

Or Lee Kuan Yew?

We know this is not the case and never will be as long as thunderstrike party is still around. Cronyism and nepotism rule!