Singapore's GIC invests US$6.88b in Citigroup

[Garlic]

Source: http://www.channelnewsasia.com/stories/sin.../322733/1/.html

 

Posted: 15 January 2008 1951 hrs

 

SINGAPORE: The Government of Singapore Investment Corporation (GIC) may soon have a bigger stake in US-based Citigroup.

 

GIC will pump in US$6.88 billion (S$9.8 billion) into Citigroup, which is one of the world's largest banks.

 

This is part of Citigroup's bid to raise US$12.5 billion of capital.

 

GIC's investment is being done through a financial instrument called convertible preferred securities.

 

This will effectively give GIC some degree of protection if Citigroup's stock price should fall.

 

But such a prudent investment with lower risk will also mean that GIC will see relatively lower returns.

[Typhoonz]

KNN these GICs really think that the money they use is theirs ah?

 

Suka suka few billion here few billion there...

[Stivo]

What to do when we have a government who thinks that they are in total control of the situation...

[Babyckh]

A new definition of "Easy Money"

[Scoots]

Let's do something about it.... in 2009/2010...

[Typhoonz]

Lose how? Treat it as a lesson learnt? Don't leh... The money can be put to better use rather than just to invest in these banks... Give it to the people lah... Cannot understand hwy do they want to help the ang mohs more than their own people...

[Typhoonz]

Or they can pump the money into the local businesses and help them... Give to those ang moh for what?

[Stary]

KNN these GICs really think that the money they use is theirs ah?

 

Suka suka few billion here few billion there...

 

Now you know why they gonna lock your first 20K huh?

[Babyckh]

ang mo Tua Kee gua...

 

I don't remember they had done anything that is beneficial to Singaporeans except taxed us thru' 7%, property, ERP, etc...

[Mustank]

pey kee pey low hai

ang mo jiak kow sai

 

[Kingcopa]

So what can we do? Their big boss is who? Must get use to it.

[Penthousepauper]

Just hope they got enuf moni to pay the retirees.

[Comfy]

Lose how? Treat it as a lesson learnt? Don't leh... The money can be put to better use rather than just to invest in these banks... Give it to the people lah... Cannot understand hwy do they want to help the ang mohs more than their own people...

 

its still better than investing in chi-na and other asia countries. look at the china-eastern air and the indon telcoms... all do business like ah beng... today moola comes in, friends with u. next day, another fella comes with more moola then no more friend with u. wtf..

[DarkLord]

Well done!! Now how about some dividend payout to the "unwilling" investors first?

[Galantspeedz]

Lose how? Treat it as a lesson learnt? Don't leh... The money can be put to better use rather than just to invest in these banks... Give it to the people lah... Cannot understand hwy do they want to help the ang mohs more than their own people...

 

I cant agree with you on this leh..... we are helping ourselves not ang moh

[Typhoonz]

Chek ark ah... They better not sio tio their chiu with this investment... Even if they earn big time they also keep for themselves and give us minimum... There's nothing concrete about business in this time... Even Barings can go bankrupt so why not citigroup?

[Typhoonz]

And I don't think that's all... The elites are probably thinking about more ways to siphon more money out of us...

[Bommii]

I think this will prove to be a good strategy in the long run.

GIC is buying a big stake in UBS, Merill Lynch & now CITI at a bargain price.