Why no questions in Parliment on Shin Corp deal?

gill_hfc SG · 2006-03-27T14:58:05+00:00

Funny u say that...i just makes me wonder when singaporeans are ever gonna stand up for themselves. Are we gonna lay back and assume the govt has our best in...

gill_hfc SG

Based on the events in Thailand, there has been clear Thai political and local opposition to Temaseks investment in Shin Corp. What guarantee is there now that Temaseks $3billion investment and its future returns on Shin Corporation will continue to be profitable? It seems to me that we can kiss our $3billion investment goodbye.

It was pretty clear from the outset that Shin Corporation was a politically linked company. It amazed me that Thaksin was able to raise foreign investment in Thai Telco's overnight just to allow the deal to go through. Any shrewed investment banker would have seen the potential political fallout. We should have paid Thaksin in stages not all the money at one go. Did Temasek go wrong on the due dillegence on Shin Corp. Who, in Temasek holdings, is going to be held responsible for the $3billion loss in Shin Corp?

Has any MP in parliment raised any questions or debated on Temaseks investment in Shin Corp? $3billion is a large amount of taxpayers money at the end of the day.

shade343 SG

One should remember that humans tend to forget things quickly. After this election hoo hah in thailand is over, the people will go back to their daily lives. So dont pre judge the deal just because of some protestors.

av98m SG

Who will dare question the PM's wife? Laughing

gill_hfc SG

just as singaporeans will never forget the NKF saga, do we really think the Thais are going to forget about Shin Corp?

dragg SG

remembering it and doing something about it are two matters altogether.

robertteh SG

An autocracy is run in this manner – every one takes a certain cue from utterences of great supremo and dare not ask thorny or difficult question.

LinYu SG

even the media reported that sia areoplane and merlion effigy were burnt but did not acknowledged the rest of the items burnt.

Laughing

gill_hfc SG

i strongly feel that there should be a debate in parliament on the Shin Corp deal among MPs. I am sure many Singaporeans are wondering if Temaseks investment of $3billion is safe as it involves tax payers money.

abao SG

well, according to this blog we lost alot of money in the past week...http://singaporeelection.blogspot.com/

robertteh SG

Temasek had performed poorly except in converting government services to GLCs and set higher fees in monopolices to squeeze greater profits.

When it comes to technologies, all the technology acquisitions from Micropolis to CSM, from Global Crossing to DBS Daoheng bank acquisitions, from souzhou township to Bangalore developments, few had done well. With so many flops, in their records, they might as well pull back our monies and invest locally where SMEs require great help to start new technology companies. How to justify investing our monies in more overseas ventures with so many poor records. Do we have one good man so far in such area to let the people trust him in making good investment decisions. If we do not have men at Temasek to have abilities of this nature, and who could lead with shrewd judgments proven on past successes, citizens will find it hard to trust their big forays into Global Crossing again or Shin Corp as decisions on emotional factor like getting bigger ports and bigger companies will never work.

ObviousMan SG

Why no questions?

Standard reply:
The Singapore embassy has said the deal is not a government to government one, and the Singapore government does not interfere in Temasek's private business decisions.

Not related lah, that's why no questions.
Don't be idiots like the Thais.
So what it Temasek fools around the loopholes in the laws of Thailand?
No crime okay, like NKF Durai, no crime lah!
We are smart people here okay, led by world class leaders who are above corruption hor!

charlize SG

Debating or questioning any decisions in the Parliament is often redundent when everything has already been decided. There is just nothing you can do about it.

Casino anyone? Laughing

gill_hfc SG

Temasek paid 49.25 bahts per share. Shin Corp share is currently trading at 37 baht per share. In other words Shin Corp is currently worth alot more less than what Temasek originally paid for. In a short span of 2 months Temasek has taken a hit of millions in the market capitalisation of Shin Corp. So who is answerable in Temasek for all this losses? Remember Temasek used taxpayers money to buy out Shin Corp. I think Singaporeans generally deserve an explanation as to what is going on with our investment in Shin Corp.

shade343 SG

Originally posted by gill_hfc:
Temasek paid 49.25 bahts per share. Shin Corp share is currently trading at 37 baht per share. [b]In other words Shin Corp is currently worth alot more less than what Temasek originally paid for. In a short span of 2 months Temasek has taken a hit of millions in the market capitalisation of Shin Corp. So who is answerable in Temasek for all this losses? Remember Temasek used taxpayers money to buy out Shin Corp. I think Singaporeans generally deserve an explanation as to what is going on with our investment in Shin Corp.[/b]

Later the price go to 60 baht leh? Laughing

Why you never mention Temasek sell SMRT for $1.19? Or buy NOL at $2.80?

grandeur SG

Do you think they are interested to answer to the public?

LittleTiger SG

dont u know, all dirty business love losing company $$$.
lost more $$$ in investment mean GOOD. A good excuse to divide/transfer the looted $$$. hehehe

Atobe SG

It seems that the 'tuition fee' that was paid for MICROPOLIS - to the tune of $500 Million - was not well learnt.

There were losses also with the aquisition of Thai Danu Bank; which the ex-CEO of DBS had said there was a failure in 'due diligence' prior to the take-over.

Is it unfortunate that only those who are out of Parliament has the courage to " voice the concerns " on behalf of the Public ?

LinYu SG

and you think you are gonna get answers?
Laughing

headset SG

Ask all u want lah.. basically SHin Corp is doomed.... unless Temasex rebrands it.

Thai people are not like most others. They Kinda hold on to their values quite a bit. So if they bycott then i believe its for good lah

NewAge SG

Politics is a tricky buisness. Look at JBJ how many times has he been jail for criticising the gov and their policy, though some time he does step over the line.