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(19-03-2023, 10:11 AM)Bigiron Wrote: 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.
(This post was last modified: 19-03-2023, 11:07 AM by
Gemstar.)
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I tot that time they lost over $60b? They bought a few banks and sold within 1 month for a huge lost!
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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
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And Dr Tony Tan was the finance minister saying Singapore will continue to buy more Banks when opportunity arises.
A very brave man indeed.
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(19-03-2023, 11:59 AM)Scythian Wrote: .
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?
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(19-03-2023, 09:49 AM)p1acebo Wrote: 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
Why do we need 5 Mayors and 80 PAP Ministers?
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• Bigiron
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(19-03-2023, 12:22 PM)lvlrsSTI Wrote: 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.
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(19-03-2023, 10:11 AM)Bigiron Wrote: 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/
LMW (PSP) to PAPigs: DO NOT TAKE EVERY OPPOSITION IDEA AS A SOURCE OF DIVISION!!!
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(This post was last modified: 19-03-2023, 02:17 PM by
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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?
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(19-03-2023, 10:11 AM)Bigiron Wrote: Not lost some but alot and foot the lose from sinkies
I CONRINED FOR U:
by increase gst more n more taxes increases
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