Temasek makes money in Singapore and lose to foreign country

AndrewPKYap SG

...profits from Singapore

Olam listed in SGX, bought recently around 1.60 now above 2.00

...losses to foreign countries...

Barclays, bought at around 700, sold at around 70

Merrill Lynch, Bought at around 25, sold at around 5

AndrewPKYap SG

The cursed despot with a zombie wife and his gambling addicted relatives and cronies are such foreign ass lickers

deepak.c SG

That's philanthropy.

Take from her citizens forcibly, then freely give to strangers.

starExcaliblur SG

That's what extra-ordinary government do.

<p>You don't expect them to do ordinary actions such as welfare for citizens, minimum wages for citizens, free transport / healthcare for citizens, do you ?

Cram SG

The only way Temasek and this government will behave more responsibly with public money is...if they are paid a lot more. So, I propose a massive hike in the salaries of all ministers and Temasek officials.

Draglung SG

To describe it this way is not very fair to Temasek Holding. As the great financial tsunami ripples through the economy, it seems indeed like a bargain to buy into the distressed company. On restrospective we knew it might seem alot to pay for, but thats impossible to predict. Veteran "sage of the Omaha" Warren Buffet also made the same mistake to buy into the "bargains" which are not so much of a bargain if we look at it today.

Anyway, government policies are very intricate. To spend on free healthcare and transport would mean there are no reserves and we will incur a budget deficit. Say goodbye to our MAS exchange rate monetary policy and bye bye to infrastructure spendings. We will be like US, UK and Japan with huge budget deficits. You can't manage an independent monetary policy and fiscal policy when your hands are tied down by a huge budget deficit. Expect SGD to float wildly under attacks from speculator and trade will be disrupted (not forgeting trade and stability is our competitive advantage).

Back to Temasek Holdings, the annual compounding return since 1974 is 18% by market value. We have one of the finest SWFs and sufficiently transparent with annual report (Temasek Review) available on the website. Despite huge losses, it has a very strong track record and good performance in 2008. They have risk management team in place as well though the VAR in 2009 is scary (16% prob of losing 40 bn on a portfolio of 180 bn).

So judge for yourself, is a good investment company one who never ever lose money (which is probablity extremely rare -- i haven't seen one yet) or is it one that invest prudently and gives its stakeholders a fair share of return consistently...

Fantagf SG

You registered just to counterattack people who expose the PAP. Really bo liao. stop giving excuse for Temasick.

Draglung SG

I listed the facts as it is. If you feel that there is anything wrong you can counter the facts if you want, but do not attack me.

I am merely playing the "opposition" here, so give me some due respect since "opposition" is supposed to be greatly valued, is it not?

Fantagf SG

ha ha ha hahaha. but let me tell u there is no possibility anyone will change the mind of the people here about the facts and reality on how the govt pee ay pee is treating locals.

Draglung SG

its fine, everyone has their own beliefs, just as I respect yours, i demand an equal respect. I was just thinking it would be interesting to debate it out. I cannot say I am always right, but I wanted to hear how other people on the other spectrum thinks.

Therefore I will be ready to hear some rebuttals here, and hopefully no flaming. Just nice and cool debate proper.

Fantagf SG

Therefore I will be ready to hear some rebuttals here, and hopefully no flaming. Just nice and cool debate proper.

It is not possible that flaming will not take place. be prepared for it. Flaming is real in public forum, i believe by now you know.

Cram SG

"To spend on free healthcare and transport would mean there are no reserves and we will incur a budget deficit."

I don't agree. With tons of money in reserves, the govt can easily afford to provide free transport to citizens.

SMRT is tipped to make 850-900 million in revenues this year. 80% of that comes from commuters (the rest from leasing out space at the stations), or around 700 million. Assuming 20% of that revenue comes from non-citizens, the govt will have to shell out about 550 million a year to SMRT toward subsidizing free transport for citizens. That's just half a billion dollars. If the govt sets aside 20 billion, all citizens can ride the trains free for a decade! So, your assertion is incorrect.

Cram SG

"To spend on free healthcare and transport would mean there are no reserves and we will incur a budget deficit. "

Healthcare is certainly a bigger burden than transport, but I believe the government can lighten the burden on citizens.

For the past 4-5 years, public hospitals have been seeing around 300,000 admissions (outpatients are about ten times as many). Assuming all of them were citizens, and assuming the govt hands out $10,000 to each one (feel free to change that number, it is just a convenient one for me), it still adds up to just $3 billion a year.

Temasek lost more than $60 billion! That sum could have gone towards subsidizing healthcare for citizens for a couple of decades.

People like you have an irrational fear of welfare and govt spending. And before you or anyone else pops up with "oh, that will require insanely high taxes," let me point out that Singapore collected over $37 billion in taxes in 2008! Surely taking out a couple of billion wouldn't hurt. Perhaps you think it will!