Funny, but I interpreted it as generally an upbeat press
conference. The $12.8b benchmark, from 2006, was a historical high
-- that one was obtained off a massive 71% rise in profits in the
preceding 12 months. The latest profit number, $9.1b, remains the
second-highest in Temasek's history. Methinks it's too harsh to
describe the 29% dropoff year-on-year as a "slump", lah.
As for the Shin Corp stake, give it a year. The main culprit
appears to be its Shin Satellite business, which'd suffered a net
loss for the first time since 1997 (partly blamed on a
malfunctioning satellite) but is expected to rebound into profits
again.
Ng Yat Chung also not the Big Bossman here. S. Danabalan is, so
it's his head which is on the guillotine. (As if that will ever
happen ~lol~)
