[Bluebull]

In late 2007, during the first phase of the crisis, GIC invested $11 billion Swiss francs for a 7.9% stake in the Swiss bank UBS The loans were converted into equity in 2010, with an estimated 70% loss of value, though partially offset by a 9% fixed coupon.[16][17] GIC had acknowledged that the timing for the investment could have been better. It also stated that other investments made at that time have had positive returns which offset the losses on UBS.

https://www.forbes.com/2007/12/10/ubs-gi...8856b623f6

[Bluebull]

Wanted and planned to invest more.....

https://www.reuters.com/article/singapor...OL20130801

[p1acebo]

Ah Ho say Ish okay to be contrarian

[Bluebull]

Then....

https://www.gic.com.sg/newsroom/news/gic...al-crisis/

[Bluebull]

Very malu, all over the world reported

https://www.reuters.com/article/singapor...SL8N1II3TR

https://www.bloomberg.com/news/articles/...-6-billion

https://www.scmp.com/business/companies/...and-worlds

https://asia.nikkei.com/Business/Finance...S-sell-off

https://www.ft.com/content/648db69b-0670...0ec933abfd

[K88 shu shu]

you win some, you lost some.

[Bigiron]

you win some, you lost some.

Not lost some but alot and foot the lose from sinkies

[Bluebull]

Even The Old Man got caught cold...

https://www.nas.gov.sg/archivesonline/da...211985.htm

https://www.asiasentinel.com/p/trouble-f...the-orient

[aiptasia]

Only the terminally idiotic would invest in large banks at anytime over the past 30 years. More so when all banks are inter linked in their fates as they borrow and lend with each other. Meanwhile they missed out on the likes of Apple, Netflix, Tesla etc. Goes to show what idiots they are in understanding market themes and trends.

[lvlrsSTI]

Not lost some but alot and foot the lose from sinkies

If keep losing, one of these days our CpF how?

[ysh02]

In investments is it either win or loss...Just like Citibank if we buy in 2008, we will huat big big ...
Hope tomorrow DBS won't go down ...

[lvlrsSTI]

In investments is it either win or loss...Just like Citibank if we buy in 2008, we will huat big big ...
Hope tomorrow DBS won't go down ...

Why you worry about DBS?

[Gemstar]

Not lost some but alot and foot the lose from sinkies

They owe an answer to our Nation for such huge losses. Aren’t there a Board of Enquiry on this? There shd be a accountability as funds are from our Nation.

[Notdumb]

I tot that time they lost over $60b? They bought a few banks and sold within 1 month for a huge lost!

[Scythian]

.
They GIC and Temasek can afford contrarian deals.

In fact, only one reason was to keep both UBS and Citi rooted in Singapore.

Otherwise, they may relocate to somewhere

[Scythian]

.
And Dr Tony Tan was the finance minister saying Singapore will continue to buy more Banks when opportunity arises.

A very brave man indeed.

[Bigiron]

If keep losing, one of these days our COF how?

Ask dishonour son and his wife  or simply ... tongue stick out problems solved 








picture of save

[lvlrsSTI]

.
They GIC and Temasek can afford contrarian deals.

In fact, only one reason was to keep both UBS and Citi rooted in Singapore.

Otherwise, they may relocate to somewhere

What happened to ANZ bank’s presence in Spore after acquiring Scottish bank? All the branches were closed, all the ATMs were removed, pulling out of Spore?

[Ola]

Ah Ho say Ish okay to be contrarian

So much CPF money for her to gamble with

Our CPF already shrank due to inflation

Hopefully Jac's CPF is only paper but no value

[Scythian]

What happened to ANZ bank’s presence in Spore after acquiring Scottish bank? All the branches were closed, all the ATMs were removed, pulling out of Spore?

In Singapore, 1MDB scandals closed 2 Swiss Bank with couple bankers went to jail.

MAS CEO says causing a dent in Financial centre.

Recently, Goldman Sachs executive went to jail as well.

[Bluebull]

Not lost some but alot and foot the lose from sinkies

UBS was trading at 50 Euros per share at the end of 2007 and just before the latest debacle it was trading around 11 Euros.  It had therefore already lost around 80% of its value before he added a further 2% loss to its 2007 market valuation. For GIC it appears this 80% loss probably amounts to S$7-8 billion assuming that the currency purchase was unhedged at the time. That may not seem like a huge amount in the context of GIC’s rumored total assets but we don’t know what percentage it represents of GIC’s equity. As the bonds issued to CPF by GIC have to be repaid it’s conceivable that GIC could end up with negative equity.

Anyway as the largest stakeholder in UBS any loss chalked up to them is going to send shock waves through GIC. And as GIC’s assets are funded through borrowing in Singapore dollars from the CPF, your savings are directly linked to UBS’ fortunes. Furthermore this latest loss comes amid the start of a double dip recession.

https://kenjeyaretnam.com/market/gic-ubs...cpf-funds/

[ysh02]

Any Sg banks affected ? Gov said don't have so our CPF saving is safe safe no worries lah.. which bank keep the money for GLC ad Temasek?

[talky]

Not lost some but alot and foot the lose from sinkies

I CONRINED FOR U:
by increase gst more n more taxes increases