Temasek further loss..US$5.9billion in Norway SWF

[Celicar]

billions of dollars is no joke and no small amount, too big to just pass off with a mere remark. i think if and when there is such a big loss, someone must be accountable and head should roll. you know how long way a few billion can go to help singaporeans who are the rightful owners ? i find it not acceptable that such a costly mistake can just be passed off like that.

 

That's right, but you can be sure it won't be anyone in the magic circle. Those inside are immune.

[Veryfree]

Itz a HONEST mistake?

 

Hmmmm Norway's best earn 10% of those at GIC............. and outperform them 100%.

 

 

Can I suggest hiring two of these Norwegian and we still save 80% in costs?

 

Saving could be more than 80%, considering opportunity gain from the loss....

what is the meaning of GIC? Goons Intoxicating Countrymen?

[Veryfree]

That's right, but you can be sure it won't be anyone in the magic circle. Those inside are immune.

i agree, if their relative can say millions is peanuts, maybe these billions is just coconuts.

they have a plantation...

Edited May 22, 2009 by Veryfree

[Chevy88]

Guess monie in CPF is not a foolproof plan afterall. Like they said dn't put all your eggs in 1 basket. Time to have plan B.

[Mcfguy]

Itz a HONEST mistake?

 

Hmmmm Norway's best earn 10% of those at GIC............. and outperform them 100%.

 

 

Can I suggest hiring two of these Norwegian and we still save 80% in costs?

 

 

 

haha, foreign talent ...in parliament...it rhymes!

 

[Mcfguy]

i agree, if their relative can say millions is peanuts, maybe these billions is just coconuts.

they have a plantation...

 

coconut still not bad, scare they say it's hazel nuts...

[Cybertron]

Well... I guess for mere mortals like us who hardly get to see $4.6B in our lifetime, for these people who manages probably 100 times that amount, it is peanuts to them..... anyway, is also not their money....these people who loses the money just move on to another place leaving a wasteland behind, sort of like locust.

 

After we decided to pay top money for the top management of Singapore Inc, I feel the QC seems to have dropped? Maybe the decisions made by these people are too profound or deep for mere mortals like me to understand....I hope in my life time, we do not go back to become a fishing village where it all started...

[Cymagnus]

Don't count on your CPF. The amount you see in your account is just virtual money.

They have and will created more obstacles so you can't withdraw your money out.

[So_nice]

39b usd + 4.6b usd + 5.9b usd = 49.5b usd

 

tats a cool 81.67b sgd..

 

how much of these can be used to help the poor instead? tell me WHY

[Sturtles]

39b usd + 4.6b usd + 5.9b usd = 49.5b usd

 

tats a cool 81.67b sgd..

 

how much of these can be used to help the poor instead? tell me WHY

 

Loosing 39 billion USD concerns national security. So far, it only seems like a grapevine story.

 

I don't think ho ching is so unlucky to loose so much

[Lv3338]

When i stayed in taiwan....i'm fully covered by their national healthcare policy...most medical cost were covered.....their govt are doing it even they are losing $$$ every year....

 

Here... our CPF don't really cover all expense and make us buy our own medishield... (to take care your own)

And even decide for us what medical expenses is cover...what is not... (previous medical treatment for hypertension and diabetic treatment was not covered)... it's our own $$$ anyway, how come tell us this can be use for ...and not that?

 

So where our CPF had gone..? and put to what used?

Do we have a clear answer for us?

 

[Veryfree]

Well... I guess for mere mortals like us who hardly get to see $4.6B in our lifetime, for these people who manages probably 100 times that amount, it is peanuts to them..... anyway, is also not their money....these people who loses the money just move on to another place leaving a wasteland behind, sort of like locust.

 

After we decided to pay top money for the top management of Singapore Inc, I feel the QC seems to have dropped? Maybe the decisions made by these people are too profound or deep for mere mortals like me to understand....I hope in my life time, we do not go back to become a fishing village where it all started...

the problem is these guys are wasting SG resources by sucking citizens blood without remorse.

i can feel that many SGeans are getting angrier, instead of retaliatiing, they just leave here for

good.

 

BTW i just don't understand why many statutory boards were using common funds to speculate

in stock markets which they are not familiar with. Not too long ago, town councils loss heavily

in Lehman bros...it showed how naive they could be. And that was our money, not

theirs...they'd no consenus from us to do so.

Edited May 23, 2009 by Veryfree

[Veryfree]

Loosing 39 billion USD concerns national security. So far, it only seems like a grapevine story.

 

I don't think ho ching is so unlucky to loose so much

Singapore GDP is US$181 billion, Temasek has loss eqv. to abt 20% of SG GDP!!

 

How would foreign countries view us? dump Singaporeans? who would want to

invest here further after a wonderous deed from our "top-notch" GIC?

 

After the hugh loss, where would they seek to prowl back resources, from us poor

citizens? or raise gantries? raise school fees? raise income tax??

 

i'm starting to worry now..........

[Veryfree]

one foreign article wrote :

 

The GIC mystery

 

Compared with Temasek, the larger Government of Singapore Investment Corporation (GIC) is a riddle wrapped in a mystery inside an enigma.

 

Who knows what shape GIC is in after pumping billions of dollars into Citigroup and UBS, which are drowning in a sea of red ink?

 

The government didn

[Drive_carcar]

Singapore GDP is US$181 billion, Temasek has loss eqv. to abt 20% of SG GDP!!

 

How would foreign countries view us? dump Singaporeans? who would want to

invest here further after a wonderous deed from our "top-notch" GIC?

 

After the hugh loss, where would they seek to prowl back resources, from us poor

citizens? or raise gantries? raise school fees? raise income tax??

 

i'm starting to worry now..........

I doubt there's any impact on foreign investment decisions. Anyway foreign investment decisions are almost always based on opportunties, risks, and costs.

 

That said, it is worrying what impact will the losses be on the peasants. We had already paid for it by the 5 - 7% GST increase, what's next? 7 - 10% GST? Somehow or other, we end up making good the losses from our very own pockets. The monies that was used to invest in ML didn't come out of thin air. It's monies you and I have slogged so hard for, and yet unable to get our hands on it. It is our money. Everytime you buy something and pays GST, you are paying. It is taxpayer's moneis, so don't think it doesn't affect you.

 

So folks, you decided for yourselves in the coming elections VOTE WISELY, and for the good of everybody.

[Veryfree]

I doubt there's any impact on foreign investment decisions. Anyway foreign investment decisions are almost always based on opportunties, risks, and costs.

 

That said, it is worrying what impact will the losses be on the peasants. We had already paid for it by the 5 - 7% GST increase, what's next? 7 - 10% GST? Somehow or other, we end up making good the losses from our very own pockets. The monies that was used to invest in ML didn't come out of thin air. It's monies you and I have slogged so hard for, and yet unable to get our hands on it. It is our money. Everytime you buy something and pays GST, you are paying. It is taxpayer's moneis, so don't think it doesn't affect you.

 

So folks, you decided for yourselves in the coming elections VOTE WISELY, and for the good of everybody.

you're right. unfortunately the opposition parties will be smashed before campaign.

as of now, we will have to spend less

[Cybertron]

Is like maybe when one is young, given maybe 50 cents or 1 dollar pocket money, u lose 10cents, u maybe cannot sleep over night. When ya have more pocket money, losing 10 cents means nothing, and maybe losing $10 is a big deal. Then u earn more money, then u probably spend $100 over night at a pub, and that's no big deal. Then u earn even more money, and won't think twice spending maybe $200-300k on a car, etc....

 

So I guess it pretty similar in that the money they make or lose everyday, that amount of money is probably no BIG deal compare to their LONG TERM investment vision.

 

I guess a lot of mere mortals like me can only whine... and can't do much about it. And guess what, every year, or year before election, they just need to give out $100-200 to the people, do some HDB upgrading, and all these are just forgotten...

 

Where is the media during election time to dig out all these for accountability, and given a lot of these numbers are shrouded in secrecy, then only few actually can see, people on the streets just have no idea what's going behind...

 

For all we know, maybe Temasek never even spend a single cent on Merril Lynch at all since maybe there's no money to begin with in the first place.... hahaha

 

For mere mortals like us, can only suck thumb and hope we can earn enough money and get out of this place... since they are already hinting ya to go north to retire and die there, and dun be a burden here....

[Blackyv]

Hope we do get back our CPF $$$ @55 ....without further delay or new instalment scheme..

 

u better hope they dont upped the number from 55 to 60 one of this day...