‘Singapore government-sponsored investment house Temasek Holdings is
close to investing $60 million or Rs 300 crore in Hyderabad based
Spandana Sphoorty Financial Ltd. According to sources, the deal is being
closed at $400 million or Rs 2,000 crore valuation.
VCCircle had reported last week, quoting Spandana's CEO Padmaja Reddy,
that the microfinance institution would be closing a $60 million deal
this week. When contacted, Manish Kejriwal, Senior Investment Director,
India & International, Temasek Holdings, told VCCircle, “We haven’t
closed the deal.” Reddy was not available for a comment.
If the deal goes through, this would be third investment by Temasek in
financial services space. It had earlier invested in non banking
financial services company Fullerton India and also in ICICI Bank.’
The above is posted at Sammyboy.com. Read that Temasek is also in
Chengdu China in the same micro financing business. This is like moving
from investing in top global banks to kucing kurap little finance
companies.
If I have so much money to invest and invest regardless of what, I would
rather put the money in a few pawnshops here. At least it would not
turn out to be another lemon like the childcare in Oz. Or perhaps I may
just do a charity like offering anther 20 or 30 scholarships for Asean
students to study here. Write off the money and no regrets knowing well
ahead that money is for charity and not expecting any returns.
Alternatively can hold a few more Singapore Day events overseas to
benefit Singaporeans. Can feel shiok also after spending the money.
What do you think?
14 comments:
I would rather invest the money in fellow Singaporeans.
You know, the people who actually built up this country.
The people who defend this country for real peanut salaries.
The only way this is going to happen is to vote Opposition.
When it is not your own hard-earned money, why should you care how you spend it? Invest? Gamble? Who's going to know the difference?
OTOH, dun worry folks. Temasek got plenty money to play with. I mean play in the literal sense.
No worry? Many are hoping for a change of govt to take back their money in the CPF, or at least not all got sucked inside there till the cow comes home.
Give us back our money.
gee... wonder how long before they decide to write-off this investment
RB, Tio and Tio.
Redbean,
the reckless and irrational investment of public monies by Temasek is more like siphoning and money laundering to other countries with poor check and audit. I find it bizarre that singaporeans are doing nothing about it but suck thumb and eating RedBean dessert.
Can't say they are reckless and irrational. They are the best experts money can buy and their strategies must be at a level that we laypeople cannot understand.
And they are making a lot of money for sure. They are just not telling only.
Wah lau eh!
Ah Long san in Singapore lend money (micro finance) to all the kuching kurap small businessman in Singapore.
Now TummySick also want to lend money (micro finance) to all the kuching kurap small businessman in India.
Ah Long san can get arrested for doing this.
But TummySick gets paid millions in salary from taxpayers for doing this ???!!!
What the fuck?
Microfinancing is lending money to the poor that in most cases cannot afford to pay back. As a charity it is good. As a profit making business, it is evil.
And this is not much difference from the subprime housing crisis in the US when money were loan to people with bad credit risks.
I say again, as a charity, very good. Microfinancing can help the poor to start their small businesses. If charging them high interest, it is bad.
Is Temasek in this business to do charity or to make big profits?
I say if they want to do this charity kachang puteh business maybe they might consider doing so in our own backyard.
I am sure many back lane factories and hawkers would like a quickie loan with little strings attached to tide over a rainy day.
Also, the kachang puteh towkays may want a quickie loan to buy the latest Benz to drive their China toy dolls around. After all, easy money lah.
There will be plenty of people who used up all their medisave and is in need of a micro loan to pay off their medical debts.
This may put our local entrepreneur loan sharks out of business but it isn't a bad thing at all as there will be less work for our city's finest men in blue if they don't have to solve harassment cases.
I know, I know, those legal loan sharks and pawnshops may suffer some business losses but they will get over it.
Laughing my ass off.
If the losses can always be covered by increasing ERP, GST, COV, COE, HDB, MHS, CPF etc in sinkieland, you can go into any stupid business. The daft sinkies will pay the price for any losses but they themselves will reap the benefits for any profits.
@ redbean
"Is Temasek in this business to do charity or to make big profits?"
Are you serious?
Why not you also ask;
Is PAP Minister in parliament to help Singaporeans or to earn a millionaire salary?
@ LMAO
"I know, I know, those legal loan sharks and pawnshops may suffer some business losses but they will get over it."
But may be these loan sharks and pawnshops are big time PAP grassroots leaders?
Like that then how?
Post a Comment