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

I've mentioned this before, but would like to reiterate: the distress sale of Lotus AMC, a Fullerton venture, also qualifies as a bigger turkey than people realize.

http://tinyurl.com/55sv9t

http://tinyurl.com/5z9qop

Firstly, the fund's assets under management tanked by S$750 million in 1 month, which actually forced the sale! Who the heck was managing the fund? Why were they so late to react? And most importantly, how much were they paid [fund managers in India are usually paid like PAP ministers:-)]?

Secondly, the fund managed to lose S$70 million in a fixed maturity plan, which is mind-boggling since these plans are deemed gilt-edged, rock solid, safer than bank FDs.

Thanks to the bungling, they had to sell the fund....which would have fetched S$100-120 million in normal circumstances. Instead, now they will not only have to transfer ownership of the assets, but pay about S$30 million to the "buyer" to guarantee future losses.

Truly a lesson in how not to invest public money.

TemplarKnight SG

not invest then how to make more money........ not make more money then how to justify fat salary? No fat salary how to justify themselves as talents? Not talents how can justify we are SILLYPOREANS?

siloti SG

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.

Hail Mdm Ho Ching, she feel the pain of the people, and did the honorable thing to cut her pay, You should thank Mdm Ho Ching for working so hard to come up with a diversified portfolio to generate income for the country and yet suffer the pain of pay-cut in silence, so that you people can enjoy her fruit of hard labour,

Hail, Hail, Hail Mdm Ho Ching (3 fold)

Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.

siloti SG

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.

Hail, Hail, Hail Mdm Ho Ching (3 fold)

Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.

angel7030 SG

Hail, Hail, Hail Mdm Ho Ching (3 fold)

Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.

Since when my Uncle jumped ship ar??

charlize SG

Now "Be thankful" is the next big thing after "Get out of my elite uncaring face" .

The list of catch phrases is getting longer.

seyKai SG

Hail, Hail, Hail Mdm Ho Ching (3 fold)

Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.

so great of her to cut her pay, her hard labour and sacrifices so much for us, so to be thankful,

I think I should make a deity figurine of her to replace my Quan Yin Niang Niang

pray to her evryday so that she will not lose all our money

maurizio13 SG

Hail, Hail, Hail Mdm Ho Ching (3 fold)

Maurizio13 you ingrate, how dare you question such selfless lady. Shame on you.

With all the major overseas investment losses, I am surprised that an honourable person would just take a pay cut, also not forgetting that Singapore is in a recession. Frankly, any honourable person would have just taken responsibility and resign his/her post, but then again this is Singapore, where politicians and politician's wife thriving on cronyism would just sweep their mistakes under the carpet and continue their excessive salaries. If this were a private investment corporation, her head would have been long ago guillotined. Ask yourself, what kind of qualification does she have to make her a CEO of a large investment company? Her position was obtained because she was the wife of the PM and nothing else.

angel7030 SG

Her qualification lies in her Certificate of Marriage. Nobody in singapore can attain that certificate, not even doctorate can make it, so dun play play

mlmersrlosers SG

no body made noise when they make profits..

but all kpkb once they lost

They make profit also mei wo men de fen so how does it concern us?

maurizio13 SG

They make profit also mei wo men de fen so how does it concern us?

Because if they lose money they will fleece from commoners, like the recent Singapore Power ridiculous increase.

*maeh maeh*

TemplarKnight SG

very jia lak.. and we also LL and more LL. wat can peasants do except to KBKP other than dat also can do NOTHING.

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