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7/30/2009

Sophisticated investors welcome, family jewels not for sale

By Shamim Adam July 29 (Bloomberg) -- Temasek Holdings Pte, reeling from the aborted appointment of Charles "Chip" Goodyear, said it lost more than S$40 billion ($27.7 billion) in asset value and that the sovereign fund may allow public investment for the first time. The Singapore investment company will seek "sophisticated investors" and won't sell the "family jewels" for short-term gains, Chief Executive Officer Ho Ching, the wife of Singapore's Prime Minister Lee Hsien Loong, said in a speech today in Singapore. ... All sophisticated Singaporeans are invited to invest in Temasek to take advantage of the expertise it has accummulated over the years. Temasek has a scintillating record of, if I remember correctly, registering 8% or 15% growth over the last couple of decades. And Singaporeans should feel comforted that family jewels will not be sold. DBS, SIA, NOL, Singapore Land etc are safe for now. Unfortunately the power stations were not managed by Temasek. Or else they would not be sold. Was Raffles owned by Temasek before, and was it a family jewel, or was it a national heritage? Let's make an effort to keep some of our inheritance and not to sell everything for a little short term monetary profit. Let's not sell Alaska!

11 comments:

Anonymous said...

No selling of family jewels, however, can the jewels be pawned ?

Vital National Asset such and power generation can be sold, what else are more vital ? Reservoirs ?

chekhovian said...

For the time being, no more fireplace sales! But God knows what will happen if Madame Ho continues to hog the hot seat.

Maybe we Singaporean men and women will have to become labourers and maids in Bangladesh and Philippines, if the red ink continues to bleed in Temasek's investments?

redbean said...

hi chekhovian, welcome to the blog

there are many reasons for the fiasco in the investment strategy. some difficult to predict even with the talents of immortals. but some could be plain gullible, simply conned by the americans, buying into rotten eggs.

but with such an expensive tuition fee, i think temasek will be much wiser this time. if i have money i will put it with them. but bo lui liao.

Jaunty Jabber said...

I am not sure if the calling to public to invest is a way to rise fund?

Anonymous said...

"Maybe we Singaporean men and women will have to become labourers and maids in Bangladesh and Philippines, if the red ink continues to bleed in Temasek's investments?"

ROFL

redbean said...

who says singaporeans are not thinking? only that many just prefer to be reticent as the moment of truth has yet to arrive.

ROFL, is this a short form of something or a nick? if it is a nick, i will put it in the contributor's list.

Wally Buffet said...

We are not thinking because our tummy is full and life is good.

Anonymous said...

Hi JJ:

Is it to raise fund ?

I have the same suspicion and have answered in the positive to myself.

patriot

Jaunty Jabber said...

Hi patriot,

If it has to reach the stage of rising fund by inviting people to invest, then is it the well is really quite dried?

With the escalated HDB prices, didn't there is already huge sum flowing into the government through people's CPF? Not enough ah?

Anonymous said...

JJ;

it was reported that 40 billions was gone within a year or two, others suspect and speculate that it could be more.

As for HDB, many owners are in arrears and more should be joining in. As such, it is not easy for HDB to make 40 billions as as fast as Temasek lost theirs'. And what about others such as GIC, GLCs and Town Councils losses ?

patriot

Anonymous said...

so Temasek Holding is raising investor's FUND to experience GAMBLING FUN again ?

CAVEAT EMPTOR. Investor is throwing money with their eyes wide open. Once thrown-in, the fun is for TH and HoJinx but the joke is on those dumb investors.

To fish a bigger bait and working like MLM, surely those early-bird investors will get to eat the worms whereas the rest will die a gradual death.