Temasick & GIC used to own UBS (& Citibank), but suffered embarrassing losses
#1

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

LMW (PSP) to PAPigs: DO NOT TAKE EVERY OPPOSITION IDEA AS A SOURCE OF DIVISION!!!
[+] 1 user Likes Bluebull's post
Reply
#2

Wanted and planned to invest more.....

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

LMW (PSP) to PAPigs: DO NOT TAKE EVERY OPPOSITION IDEA AS A SOURCE OF DIVISION!!!
[+] 1 user Likes Bluebull's post
Reply
#3

Ah Ho say Ish okay to be contrarian Big Grin

Wherever you go, no matter what the weather, always bring your own sunshine Big Grin
[+] 2 users Like p1acebo's post
Reply
#4

Then....

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

LMW (PSP) to PAPigs: DO NOT TAKE EVERY OPPOSITION IDEA AS A SOURCE OF DIVISION!!!
Reply
#5

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

LMW (PSP) to PAPigs: DO NOT TAKE EVERY OPPOSITION IDEA AS A SOURCE OF DIVISION!!!
[+] 1 user Likes Bluebull's post
Reply
#6

you win some, you lost some.
Reply
#7

(19-03-2023, 09:58 AM)K88 shu shu Wrote:  you win some, you lost some.

Not lost some but alot and foot the lose from sinkies
[+] 3 users Like Bigiron's post
Reply
#8

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

LMW (PSP) to PAPigs: DO NOT TAKE EVERY OPPOSITION IDEA AS A SOURCE OF DIVISION!!!
Reply
#9

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.
Reply
#10

(19-03-2023, 10:11 AM)Bigiron Wrote:  Not lost some but alot and foot the lose from sinkies

If keep losing, one of these days our CpF how?
[+] 1 user Likes lvlrsSTI's post
Reply
#11

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 ...
Reply
#12

(19-03-2023, 10:57 AM)ysh02 Wrote:  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?
Reply
#13

(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.
[+] 1 user Likes Gemstar's post
Reply
#14

I tot that time they lost over $60b? They bought a few banks and sold within 1 month for a huge lost!
Reply
#15

.
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
Reply
#16

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

A very brave man indeed.
Reply
#17

(19-03-2023, 10:57 AM)lvlrsSTI Wrote:  If keep losing, one of these days our COF how?

Ask dishonour son and his wife  or simply ... tongue stick out problems solved 
[Image: IMG-20230319-121756-378.jpg]

[Image: IMG-20230319-121751-939.jpg]

[Image: IMG-20230319-121749-042.jpg]

[Image: IMG-20230319-121730-965.jpg]

picture of save


[Image: IMG-20230319-121851-237.jpg]
Reply
#18

(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?
[+] 1 user Likes lvlrsSTI's post
Reply
#19

(19-03-2023, 09:49 AM)p1acebo Wrote:  Ah Ho say Ish okay to be contrarian Big Grin



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? 
[+] 1 user Likes Ola's post
Reply
#20

(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.
[+] 1 user Likes Scythian's post
Reply
#21

(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!!!
Reply
#22

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?
Reply
#23

(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
[+] 1 user Likes talky's post
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)