the most likely scenario, is that he was buying US$ aggressively
against the Euros$ when US$ plunged against the Euros$
You know, buy low sell high? Unfortunately, US$ against the Euros$
keep going down until it hit record lows.
How he end up losing so much? He borrowed money to do the trade (a
nice, politically correct term is, "margin" not borrowings) and he
was trading like US$1billion against the Euros$.
So his loss is "only" 2-3% of his position what, no big deal
what... except that he "borrowed" the US$1billion... and instead of
losing 2-3% he lost .....
This is another company brought to you by Temasek holdings... and
you as a Singaporean is a shareholder of Sembawang Corp.
but only Dr Chee Soon Juan will demand accountability, and the rest
of us.....
