ABC learning company collapsed: Temasak has 400m in it

last SG · 2008-11-18T02:31:53+00:00

US Treasury Bills are the ONLY risk-free investments. The only government that defaulted on their bonds is the Russian government......You are only looking a...

Cram SG

http://www.rttnews.com/Content/QuickFacts.aspx?Node=B1&Id=765083%20&Category=Quick%20Facts

This is a smaller one; Temasek had put in only $25 m. Anyways, pharma is a longhaul bet. Maybe it will turn out to be profitable.

Cram SG

One more and this one's huge, probably even worse than ABC of Australia:

http://www.vccircle.com/500/news/religare-acquires-lotus-mutual-fund

Man, they are all tumbling out of the closet now. Wonder how people missed this one: it's a huuge loss suffered by Temasek. Read below for full story (1 crore=10 million):

http://www.business-standard.com/india/storypage.php?autono=339876

charlize SG

Amazing how much money is being lost everyday for the past one year.

I am really scared for sg's future.

Haiz.

maxtor SG

imagine if you are the CEO of a big investment bank, and you have just lost alot of money investing in companies like Merrill, Citi, Barclays, Shin Corp ... the list goes on.

Do u think the board of directors would fire you?

Why isn't the same thing happening in sg?

indeed we are a country of 'firsts'.

AndrewPKYap SG

imagine if you are the CEO of a big investment bank, and you have just lost alot of money investing in companies like Merrill, Citi, Barclays, Shin Corp ... the list goes on.

Do u think the board of directors would fire you?

Why isn't the same thing happening in sg?

indeed we are a country of 'firsts'.

They want their salaries in line with "CEO of a big investment bank" but they want the job security of the Kims of North Korea and the pariah generals of Burma.

AndrewPKYap SG

Amazing how much money is being lost everyday for the past one year.

I am really scared for sg's future.

Haiz.

Now then scared? Emoticons

A bit of history lesson....

July 2007
BTW you people know that the market crashed today? [page: 1, 2, 3,... 25, 26, 27]

November 2007
Looks like its getting really serious.... [page: 1, 2, 3,... 42, 43, 44]

Jan 2008
It no longer just Looks like its getting really serious..... [page: 1, 2, 3,... 13, 14, 15]

maxtor SG

They want their salaries in line with "CEO of a big investment bank" but they want the job security of the Kims of North Korea and the pariah generals of Burma.

2 months ago one of my colleagues calculated that the losses SG had incurred by investing in Citigroup would help to offset ERP charges for all cars in singapore for 3 years, and that was when Citigroup was US$19-20.

Today Citigroup is below US$10....

charlize SG

Today Citigroup is below US$10....

Citibank's peak was at $55.

Now it's at $10.

80% drop in share price.

Damn.

SevenEleven SG

Citibank's peak was at $55.

Now it's at $10

80% drop in share price.

Damn.

good buy i suppose this is way cheaper than what GIC paid and if you live for another 30 years, you'll see your return

dragg SG

nobody seems to need to take responsibility for such losses.

Cram SG

http://inhome.rediff.com/money/2008/nov/10output-cut-by-auto-firms-hits-ancillaries.htm

Guess who invested $3 m in this company? Temasek, of course.

maurizio13 SG

This is strange!!!

How come lionnoisy the Anti-Australian never rant about this issue?

naldinho SG

who's taking responsibilty for this nonsense?

maxtor SG

who's taking responsibilty for this nonsense?

it's an honest mistake .. let's move on ...

charlize SG

Some people will tell you to be thankful TH is investing the country's hard earned money into money losing entities.

maxtor SG

oldbreadstinks SG

This is strange!!!

How come lionnoisy the Anti-Australian never rant about this issue?

you want him to come in and tell you how the evil australia is make temasek lose our money ah?

maurizio13 SG

Some people will tell you to be thankful TH is investing the country's hard earned money into money losing entities.

I wonder if the Big Ho does due diligence or it's pure punting.

Even if it's pure punting you still have chances to win, but seems like all her major investments are loss making, she must be a big jinx.

maurizio13 SG

who's taking responsibilty for this nonsense?

Nobody!

It's another honest mistake.

Cram SG

This might be nitpicking but one of Temasek's biggest investments in India is in Bharti Airtel, a cellular service company.

The stock price is already 50% down since Temasek acquired 5% stake from Vodafone at a US$400 million premium.

http://www.bseindia.com/price_finder/stockreach.asp?scripcd=532454

http://tinyurl.com/67w63l

Singtel already owned 32% in the company.

Of course Airtel is a profitmaking, valuable company, but with the BSE also down 50% in less than a year (8400 today vs 20,000+ in January 2008) it's difficult to see how and when Temasek can recoup its investment in this stock. Obviously they will have to wait for someone else with deep pockets and balls of steel to buy their stake, which is frankly a shot in the dark given the current economic climate.

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