Another Billion Dollar Blunder by Ho Ching?

last SG · 2006-06-21T11:29:13+00:00

if u are interested to know who will suffer for it: http://www.temasekholdings.com.sg/news_room/press_speeches/25_06_2004.htm

casino_king SG

And whom to blame for all the Temasek failures?

Ho Ching? PAP? Minister of Finance? Chairman of GIC?

of course not. The only people to blame are the media for daring to highlight the issue and cause disunity and disharmony among Singaporeans.

And yoo people. For daring to criticise the empress dowager.

Not forgeting the opposition.

All these groups of people are to be blamed for Temasek's failures for without them there is no failure! It was an honest mistake.

Gazelle SG

All business come with risk. but to me this is not business risk. Its a billion dollars oversight

av98m SG

LKY will probably just dismiss it as another "learning experience" for his dear son...I mean, daughter in law. Laughing

casino_king SG

Do you know that if you go to Suzhou, you must never say that you are a Singaporean? There, they will think that you are a natural born sucker and try to fleece you. Looks like when in Thailand, Singaporeans must claim to be Japs after the Shin Corp fiasco.

I think they should employ street smart ITE students in Temasek Holdings for it to work.

Lowclassman SG

What so big deal of losing S$3 billion? I made S$5.2 billion from elsewhere, you know? Mr. Green

We have to explore and invest where & when ever there is an opportunity....if we don't try...how are we going to know?

I have no regret in investing sssss..h..i..t..corp....S$3 billion lost? No sweat!!! If I can buy over the whole Thailand...I would do so!!!!!!!

laurence82 SG

Business should be run by businessmen, where they know how to calculate risks, not bureaucrats.

Laughing

Lowclassman SG

Now....in modern world...I mean...world class or first world gov..singapore mini-stars...will have run like businessmen. remember?...guys! I told you during the last two erection?....... Mr. Green

casino_king SG

That is what happens when you have ... dare I say it?...

Any public listed company would have kicked those imbeciles before the can finish saying Micropolis.

laurence82 SG

not 50 years ago meh?

av98m SG

But Temasek has zero accountability! They can lose as much money as they want. Well, as much as we have reserves I guess. That means they can quite literally bankrupt Singapore. Laughing

casino_king SG

That is what I mean lah... make mistakes and they go, so?

ObiterDicta SG

To be fair, Temasek has been building teams of people with investment banking and private equity background, which is not very different from how other private equity firms would operate.

According to today's Wall St. Journal, it appears that neither Shin nor Temasek were fully aware of the full extent of exposure in this licensing issue.

Of course, since we don't have the details, we can only speculate, which is unfortunate.

But for all of us who have a tendency to be too quick to blame and criticise, paraphrasing from the Bible, let he who has a perfect investment track record cast the first stone.

regards,
obiterdicta

Lowclassman SG

Originally posted by ObiterDicta:

To be fair, Temasek has been building teams of people with investment banking and private equity background, which is not very different from how other private equity firms would operate.

According to today's Wall St. Journal, it appears that [b]neither Shin nor Temasek were fully aware of the full extent of exposure in this licensing issue.

Of course, since we don't have the details, we can only speculate, which is unfortunate.

But for all of us who have a tendency to be too quick to blame and criticise, paraphrasing from the Bible, let he who has a perfect investment track record cast the first stone.

regards,
obiterdicta[/b]

neither Shin nor Temasek were fully aware of the full extent of exposure in this licensing issue.

So.....Shin or Tomasick should blame the Thai Government?

I say, they are to be sent to firing squat for their negligent....they are so called the countries leaders or elites and super businessmen....and yet they were not aware?
These elites are dealing with billions not peanuts.....How can they said they are not ''fully'' aware. Then, what sort of investments will only make the tomasick's elites to be ''fully'' aware?[/b]

If a rocket failed and exploded in the mid way to space...Can the rocket scientist say ..... oh....I was not fully aware that one of its component was defective!!! Mr. Green

A mistake..is a mistake! Please admit it!!!

What a joke!!!

Lowclassman SG

Originally posted by ObiterDicta:

To be fair, Temasek has been building teams of people with investment banking and private equity background, which is not very different from how other private equity firms would operate.

According to today's Wall St. Journal, it appears that neither Shin nor Temasek were fully aware of the full extent of exposure in this licensing issue.

Of course, since we don't have the details, we can only speculate, which is unfortunate.

[b]But for all of us who have a tendency to be too quick to blame and criticise, paraphrasing from the Bible, let he who has a perfect investment track record cast the first stone.
regards,
obiterdicta[/b]

Bill Gates will be casting the first stone!!! Mr. Green

robertteh SG

Our great leader has often boasted that his ministers are scholars or talents who are worth millions in salaries.

All we have seen are whereas most advanced countries like Finland and Switzerland are able to pursue open and accountable corporate government, our leaders are just unable to lead the people with reasons and rationality expected for great talents and leaders.

Many advanced democratic countries have consistently outperforming our economy for the past 20 years whereas our economy has been sliding since 1870s. Our workers' median wages at the lower 80% of workforce have been declining since the 1980s.

At least 20% of the lower income group are living below the poverty line. The lower to middle income earners are heavily indebted to their highly inflated HDB mortgages built by public housing authority supposedly set up to provide low-cost housing.

Among the Asian tigers, the Koreans are climbing on their technology ladder producing internationally well known products from cars to LCDs, whereas despite all the claims of advances and GDP our economy could only manage to stay positive after long recessions. Then our leaders would quickly claim it is doing well and rewarding themselves with higher wages and bonuses. Is this type of economic recovery due to their efforts or talents or general corrections.

When our economy is down in deep recessions, and many are out of jobs, and struggling from high costs of living caused by high fees, our leaders are only able to tell the people that they cannot do anything about the economy or retrenchments due to structural unemployments.

Are Temasek or the government really people who are the talents ? Have they out-performed talents managing the Harvard University fund which yielded 10% pa ?

For the past 10 years, Temasek has returned poorly at less than 1% pa. So are our ministers the true talents who are worth to be paid millions or are they just spending our taxpayers' monies like the NKF without accountability or proper returns of public monies back to the people.

Are they the talents and should they be paid $1,500,000.00 - $2,000,000.00 pa as claimed by our great leader.

laurence82 SG

With whose money?

A company's shareholder takes the risk and dumps his money into the company's shares.

What Temasek has is everyone's money, willingly or not

Not a small joke

Lowclassman SG

Are they the talents and should they be paid $1,500,000.00 - $2,000,000.00 pa as claimed by our great leader.[/quote][/b]

Sorry Sir!...they mini-stars are getting much more than that!!!

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