eddyp
Gear THREE
Posts: 341
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Post by eddyp on Nov 27, 2008 10:32:21 GMT 8
(Received an email from anonymous person) Temasek lost almost US$2 billion of a badly-timed US$3 billion in Shin Corp at a peak of 49.25 baht(Shin shares are now trading at around 15 baht) in 2006. It's CEO, Ho Ching committed S$401 million in ASX -listed ABC Learning Centres at near the peak price of A$7.30 and then averaged down at between A$1.20 and A$4.00, bringing it's commitment to over S$500 million. That investment is now essentially worthless although Temasek has yet to write it down. The company also bought 19% of LSE- listed Standard Chartered in 2006 only to see the market value of that stake melt 55% by November 21st. More fiascos include a 975 million pound stake in Barclays Bank bought at the peak of 740 pence(with a further 100 million to subscribe for a rights issue at 282 pence), which have now sunk over 70% at 138 pence. Most heinous of all is its US$6.88 billion stake in Citigroup bought with a minimum conversion price of $31.34. Citigroup has since plunged 88% to $3.71, singlehandedly delivering S$9.11 billion of red ink to Temasek's books. Overall, the paper loss on these investments has exceeded S$35 billion as of October 21st. More Good Years To Come.... ?
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EVOIIIGSR
Gear THREE
KTM/KAWASAKI/KIA/HONDA/MINI
Posts: 417
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Post by EVOIIIGSR on Dec 23, 2008 16:59:20 GMT 8
how are they going to recover those losses???
and actually where does the money that was invested comes from???
how does it affect me as a true blue hardworking, born and raised in this tiny island, i called home?
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