Singapore fund is $1.5B bidder for Paulson hotel group

August 22nd, 2012
Author: Online Press

Aug 20 (Reuters) – The Government of Singapore Investment Corp has bid $1.5 billion for a group of bankrupt hotels owned by hedge fund Paulson & Co, including the Arizona Biltmore Resort & Spa in Phoenix and La Quinta Resort & Club in La Quinta, California….

This seems to be the strategy of our SWF, throwing good money after bad money for high risk and high returns. On the other hand other funds are buying into Sin into good and sound companies like energy, power and the latest, a national icon in F&N.

If, I say if, the source of the funds is from the people’s savings like CPF, money that cannot lose, is this strategy a bit risky and incompatible to the risk profile of the owner of the fund? What if the strategy fails and unacceptable capital is lost and the fund owners cannot be repaid?

If the gamble turns out good, no one is complaining. If the gamble sours, who is to be responsible? This is not enough as the money must be paid. Do the owners agree or give their permission to using good money to take high risk?


Veritas said...

The Lee family got gambling gene la. They probably have some of the worst gene in Singapore. According to Kuan Yew Memoir, Lee Chin Koon, Kuan Yew's father is a die hard gambler who would pawn his wife, Chua Jim Neo Jewellery. Chua Jim Neo would that fought with Lee Chin Koon.

And cancer cum Albino cum gambling gene LHL is probably another degrading de-evolution of his grandfather.

Kuan Yew learn everything from his father. Today, PAP gamble everything with have using GIC and Temasek as vehicle. They are going to loose their pants. Whatever it is, Singaporeans will have to pay their loses selling our ass.

In the past, Chua Jim Neo still dare to give Lee Chin Koon a good fight/fuck. Today, Singaporeans keep quiet when all our savings was thrown into the drain by PAP. Some clowns even jump up to defend them. Veritas was attacked frequently by many of these trolls.

Where have the balls of Singaporeans gone?

Anonymous said...

"If the gamble turns out good, no one is complaining. If the gamble sours, who is to be responsible? "

We will still complain if it turns out to be good ? Why ? Because how does it benefit lesser mortals ? The government treating Singaporeans as a fool by gambling with their money, and if win, these bunch of PAP clowns going to reward themselves handsomely with glory, and fails, just let the public absorb the cost through taxpayer's money. Profit they take, loss the public take .... Why should be the public be at the gambler's mercy and exploitation ? Even Ah Loong risk police's raid, so what risk did our clowns take ? totally zero risk for them.

what do you think ?

Anonymous said...


are you really happy that the gambler win money using your money, and share no profit with you, and yet let you totally absorb the loss if he lose ? If so, welcome to Singapore INC ... that is how the SIN govt works.

Chua Chin Leng aka redbean said...

I think both of you are right. I wasn't thinking. Thank you for showing me the light.

Anonymous said...

Whether the gamble/investment in these hotels are successful or not.

Singaporean citizens will not benefit.

You want to benefit?
Vote Opposition.

Anonymous said...

Agree with anon 2.13 p.m. Vote Opposition for more Safe investments and you will sure benefit Big Big. Better still, don't invest and return us the money.

Anonymous said...

If they have made so much money as they claimed, they would have freed up the CPF and return them to the people.

They are taking a very big gamble and risk the wrath of the people by delaying the return of their money. It is a very big political cost to pay. And they can't afford it but got their balls caught and unable to untangle.

Anonymous said...

They are increasing their bets hoping that luck will change and they can recoup all the losses. Taking bigger and bigger risks in a desperate attempt to want to win back like all gamblers do.

Anonymous said...

I wonder what is the Alternative Party view on returning CPF to the people ? Anybody from alternative party here ?

Anonymous said...

"I wonder what is the Alternative Party view on returning CPF to the people ?"

It does not matter what the Opposition Parties' views are.
Because they will never form a parliamentary majority needed to make any policy changes.

But voting Opposition puts pressure on the Vampire PIGS.

Think of it as your contribution to the National Conversation.
Your feedback is given via the ballot box in GE 2016.

Anonymous said...

Religion is corrupt, govt is corrupt( look good on the surface but don't probe or they use the laws against you) and the people serving them must also be corrupt.

Why bother to complain?

Anonymous said...

Don't forget, opposition also corrupt one because of system of governance too many loopholes to exploit and too many corrupt workers supporting it lah

Anonymous said...

Take a look at CHC case. Corrupt leadership exists only because you have corrupted believers. Corrupted leadership cannot operate without corrupted support from the ground.

The leadership stinks. But so do those who live off the leadership. The blind leading the blind or the corrupt leading the corrupt.

Anonymous said...

Those here hoping for alternative parties and politicians are just slightly better than those hoping for the investments to perform well.
Alternative party/politician can bring some changes to the political landscape. However, whether or not the investment brings profit, it does not benefit the people. On the other hand win or lose, those doing the investment will get their remuneration, incentive and bonus. If and when it is time to enjoy their lives elsewhere, they will just leave. You die your business, who cares!

Anonymous said...

"You die your business, who cares! "


Many have not tested the system or and legal system. It is very corrupt!

Anonymous said...

"Many have not tested the system or and legal system. It is very corrupt!"

Why should you even test it when you can see in your own eyes that SIN legal system is morally corrupted because it only serve political wills of ruling party ? With morally corruption comes guaranteed promotion and benefits that come from serving the sinful master.

Do you need to taste and eat shit to know that it is really shit when you could tell from your eyes and smell from your nose ?

This is what SIN govt has successful done in past decades, which is to impair your judgement, instinct and common sense.

PAP will rather have people who cannot have independent and critical thinking so that they can continue to feed nonsense and inverse logic to fool the people. LKY and their bunch of useless craps think that they possess the "reality distortion field" of steve jobs. They must be still living in their make-believe world.

Anonymous said...

Many think highly of our legal system either because they know no better or they have not been at the stinging end of uncaring justice.

Don't believe what you read in ST. On the ground, nobody gives a damn about right and wrong. At the end of the day, the judge decides on what's right and wrong and in most cases, the parties will end up with a shit taste in the mouth - translate, next time you have problems, don't call them or be prepared to lose more money and time if you do

Anonymous said...

In most disputes, anyone with common sense or follow a set of investigative procedue will be able to clearly establish right and wrong.

But this can't be practiced on the ground level. Ask anyone, no one will want to take side. So who does the judging?

Only state approved shitheads. And the biggest shithead? Go ask Slyvia Lim.

Anonymous said...

Corruption and blind idiots are on all levels.

"You die your business, who cares! "

Anonymous said...

It's like buying something over from Warren Buffett...

Anonymous said...

We cannot afford to lose any more super talent so I think its fine and worthwhile to have a secret spa and club far far away cater specially for our super talent itchy monkeys.

Anonymous said...

Frankly, it's cheaper to pay these super monkeys to stay away from Singapore and never come back.

Anonymous said...

GIC got insider's tip?Must be a sure punt to them.

Matilah_Singapura said...

Personally, I think it is a very good gamble.

Plus they use CPF money...and get away with it.


Got profit?