That scenerio of huge dilution effectivly kills their investment value as there are more shares in the common ordinary pool. That’s why it’s called dilution. TEMASEK’s Barclays, Meryll’s investment is of SUCH. HUGE DILUTION hence HUGE MASSIVE LOSSES.

Other equally screwed up investments, ABC Learning (coy had HUGE DEBTS/gearing)…yet still invest $400m & coy died several mmonths later. Shin Corp, OSIM’s joint venture US acqusition, another 150m, didn’t cash out of the China bank shares when they were super high….(Warren Buffet sold out 1st).

That’s why, compared to Tony Tan’s qualification as a BANKER, HO CHING is a DUMB, INCOMPETENT and TOTALLY UNQUALIFIED engineer(no disrespect to engineers) to play with our reserves.
Talk about Meritocracy.

Evidence ???
Look at the financial statements of Temasek,
In the last 3 yrs, 2006, 2007, 2008..two years after she was CEO, cash invested outside equlled almost $70b of which last yr was the max $32b. It is damn obvious MOF had to pump money in and Temasek probably issued Bonds too.

The Cashflow states smecks of wilfull investing at the market’s peak years of 06 and 07. A clear departure of the conservative investment style… maatch with the cashflow in the years before Ho Ching.

As I still said, she mess up and there should be serious accountability…not just “I have no regrets”…which mere mortal could say that unless she’s the wife of the Prime Minister. Sick!

If JCS is so good, why not sweeten the deal with this investment monies.

Why pay 3 dollars for something you could have gotten for 1 dollar?

don’t seem to make sense right?

To add salt to the wound, GIC seems to intend to pay 3 dollars for shares that are worth 1++ through its preference shares that it owns.

Would you do something like that?
pay 3 dollars for something that you could have bought using 1 dollars ++.

Why would GIC do this?
Because the decision makers would take the shit if Citi fails and the monies don’t come from them.

So, they are willing to throw good monies after bad ones to ensure that citi has a better chance of surviving.

If citi survives, they have less reasons to be sacked.

if citi doesn’t survive, some one will take the shit. This is especially important if reputation is more important than monies for some people.

And as an add on, they don’t pay a single cent for these investments. US and so called future generation have to pay for it through actual losses or missing out on opportunities.

They are acting in their own self interest and in this case, their interest and our interests are no aligned.

Whether you like it or not, you in fact do not vote for gahmen, you are in fact voting for the party.
In other words,
MP = PAP,
so when you cast your vote, be reminded you are voting for the party not for any individual, and should you vote for PAP, you voting for price increase and price hike after election, so to speak.

If you voting for PAP, you are as good as telling that PAP is doing the right thing for citizen (albeit screwin them)…

So please, do the right thing and spread the message that you cannot vote for individual but only for party because PM Lee tell you so.

you’re damn right and totally agree what you’ve just wrote. like you being MP Khaw’s zone whom i was half hearted to vote but i did somehow. but this time round, you bet what i would vote!!!!!!!!!!!!!!

Now that Obama is capping American bankers’ pay and a lot of the Western banks are bleeding losses, maybe the top 8 bankers will be eliminated from the ministerial benchmark, you think???

The public MUST KNOW before the pending elections and hahahaha. Temasek can’t sue for defamation cos it’s all true.hahahahaha.. U’re be amazed there has been no lawsuit lodged on investement analyst reporting on the Temasek screw ups. hahahaha so they must be true right?

Here are some of my thoughts:

1. Why the hell did Temasek pursue a growth investment strategy ie High beta stocks when our reserves, as precious as it is, should dictate we pursue a low Beta, value investment strategy. ie, all our people, Ho Ching included (by the way, an engineer by training: what the hell does she know about investment) should be shipped to Warren Buffet for Training. Why Warren Buffet should have been invited to sit on the board of Temasek and GIC. Ironically, MM mocked Warren saying he has shareholders to account to yearly hence could not pursue the kind of investments Temasek would go into. Look who has the last laugh. Warren’s $5b investment in Goldman sacs is down a mere 10% from his entry price (plus it’s pref shares). Goldman has not raised more funds hence protecting existing shareholders from dilution. Contray to what MM says…..Temasek’s investments in the banks are screwed….dilution all around significantly and the death knell is when the US Govt takes 20-40% stakes in the banks. Our investments are really LONG LONG TERM investments.

2. Why the hell is Dhanabalan chairman of Temasek..another non-financial trained. Shouldn’t Richard Hu or Tony Tan be??? Tony Tan though made bad investments decisions, the structure of the investments protect the reserves from the downside, and in a worse case scenerio, we earn just the paltry dividend/interest from the preference shares strcuture. Nothing really to shout about but the capital is preserved. Tony Tan’s a smart man. This is where I don’t get it. How the hell could Ho Ching take such reckless risks when Tony Tan is taking a more prudent approach structuring deals like Warren Buffet’s deal with Goldman. off couse, GIC should have waited longer and using the same structures, GIC would have huge upside 5-10yrs down the road.

3. In conclusion, years of savings(reserves) and growth of our Singapore assets in the portfolio have been depleted just by some of these crap investments.

4. To say that Ho Ching simply lost back on some of the profits mades in the last 4yrs is also untrue. Many of the divestments were made before her time like the Power generating hence it’s easy to push the button to sell and book the profits. Her measurement should be purely on the deals she made during her tenue in Temasek. (it’s a dismal record) contray to what is reported. What I’m very pissed of including my friend is the new guy might come under severe pressure and continue to sell assets held for a long time to limit the losses. I would rather see Temasek OWN UP. ADMIST THEY F UP and write off the bloody investment like what Ron Sim did with OSIM, write off the their 90m balance in investment in the US foray to stop future hits on their P&L…which incidently… another mess up by Temasek there. THink they put in $150m in that deal.

5. I used to be an ardent supported of the PAP. But this time round, I’m going to put a NO VOTE in the ballot to send a message (eventhough Khaw Boon Wah is my MP, met him, spoke to him and I like him. he’s a good guy…one of the few who dare to say I’m sorry, let’s fix it) The rest with the exception of Vivian and George Yeo..are becoming high and mighty in the ivory towers and in this time of crisis…their true colours are beginning to show. Raymond Lim.

I just feel sick that now all the coverings, BS in the press is starting in preparation of a quick General Elections.

By the way, PM Lee was also the Finance Minister during the last 4yrs before Tharman tooked over so technically, the Wife reported to him. Temasek reports to MOF which is why the equally incompetent Lim Hwee Hua reported on behalf of Temasek.

6. PM made the biggest mistake of his career as PM, allow the appointment of his wife as CEO Temasek and wiped about billions of our reserves that his father MM and team build up so damn painstakingly over the decades.

7. There’s no accountability and if singaporeans let it passed this time round ie the Ho Ching saga, by the time MM goes, I don’t think Singapore can survive well in another generation.
THERE MUST BE ACCOUNTABILITY!

8. To rub salt into the wound, “I’ve no regrets”. Seriously, what kind of F up attitude it that…oh ya, she’s the Wife of the Prime Minister.

A very disappointed PAP Supporter.