Temasek is now at war with S&P rating agency for grouping it
together with countries like Greece and Jamaica. These two names, Greece
and Jamaica, send shivers down the spine of any organisation or country
when they are seen as like them. How can Temasek be like Greece and
Jamaica? Sure Temasek cannot tahan and must respond, to get out of this
bad neighbourhood. If only our govt could get out of the 3rd world
neighbourhood and stop stuff more 3rd worlds into this island. You
cannot be 1st world filled with 3rd world bodies, like you cannot be AAA
when in the company of Greece and Jamaica.
Why would S&P make such a drastic move, is it motivated by some
sinister agenda? Even a layman would be wondering how come Temasek is
down there right at the bottom of the pile of shit. The reason is
logical. It is the criteria used in the assessment, or selective use of
data. Some people used data selectively to search their agenda. I will
write about this latter. In this case it is unlikely that S&P is
targeting Temasek or Hongkong by this move though highly possible given
the western agenda.
According to our Singaporean foreign talent, Chris K, an executive
director in the finance industry but not wanted here, probably not good
enough in the local context but good enough to be in London and Toyko,
the rating is based on Standalone Rating and Asset Liquidity. His full
article on this subject is posted in TRE.
Standalone Rating means rating the agency as a separate entity, divorced
from its association with its mother organisation, like assessing the
son on his own merit and not be affected by the halo of his father, or
in Temasek’s case, not to be affected the Singapore as a country. With
Singapore as a backing, like the trumpet they were blowing, there is no
risk. What is losing a few hundred billions? We can sell power stations,
hotels, banks, airlines, and even the whole island if needed be. See
how safe Temasek is?
The second point is Asset Liquidity. Temasek is big, very big, and
owners of very big assets. This can be a plus or negative depending on
the situation. Big assets are not readily and easily disposable at short
notice unless selling at a discount. Big assets are not easily bought
as the buyer needs big and deep pockets. So buying big assets should be
cheaper right, like bulk purchasing. Only fools will buy big assets and
pay a premium for it when there are no other buyers with the same deep
pockets. There is a story that some big banks and funds have been
aggregating assets to make them big, like a monster, to dupe the fools
with deep pockets to pay for them with OPM. Anyway that is just a story.
Chris K also added that some organisations with AAA rating are tempted
to take unnecessary risk, as they think they are too big to fall. With
their huge financial bankings, they act and behave like a monster,
stomping around and grabbing anything they could lay their hands on,
with OPM in their pockets. Such risky behaviour is implicit, like a
philandering son out on a rampage to show how much money he has.
So, does Temasek has a case against S&P for being shafted into the
wrong hole with the wrong company? Or should Temasek’s rating be AAA as
it is owned by the Singapore Govt and has the whole island and the Govt
assets, and the CPF also, a source of cheap fund, to fall back on? A
prodigal son is AAA because his father is a tycoon.
17 comments:
Temasek's rating will remain as AAA, as long as the Sinkie opposition is not ready to be govt. Hence it is the Sinkie opposition, not S & P, that will decide AAA or what not rating.
Scary! Very Scary! Very Very Scary!
Can anyone enlighten us whether
will this rating affect our CPF!?
Cheers.
/// A prodigal son is AAA because his father is a tycoon. ///
Let me see.
This seems to suggest Father is the source of wealth creation.
And the prodigal son is the hole in the ship where all the money goes ... never to be seen again.
So the father is a stand alone asset. Probably safe to lend money to him.
The prodigal son is a stand alone liability.
Better not lend him any money.
Never ending national service for the father.
Scary! Very Scary! Very Very Scary!
Can anyone enlighten us whether
will this rating affects our CPF!?
Cheers.
The rich, and the educated elites should be worried over such things since they have more to lose. Why you worry so much?
And how if the father, as in the Said Analogy expires?
There is no immortal.
You know!
patriot
Take away all the investments introduced by the government and ask yourselves..would you AAA temasick based on their track record of investments n trading?
@ patriot
February 11, 2015 9:42 am
-------
If the father in the analogy is the Singaporeans who have been subsidizing the Pretend Action Party for 50 years .... then it is clear that the father is immortal.
Because Singaporeans will always vote for the Pretend Action Party.
The truth will set you free...but first...it will piss you off!
Yo, Temasek, you should educate yourselves by learning a new word:
T R A N S P A R E N C Y . Can or not?
/// Yo, Temasek, you should educate yourselves by learning a new word:
T R A N S P A R E N C Y . Can or not? ///
Learning from the father leh. Father opaque; prodigal son non transparent.
@Anon 10:11am
Soon we shall all get to see.
I somehow depend much on intuition and hunch in living.
To be frank I tennd to have this funny feeling that Sinkies will one day wake up to find that Sin the Cuntry has became Sin the City. You're the Master of Yourself and no citizen of anybody.
patriot
Father makes lots of many through various ways and means over 40 years of hard, tedious, sometimes ruthless and heartless works.
Come along with a son, who could not keep his excellent wife alive for long after bearing him a daughter and a son, had to die mysteriously, and then he remarried a manly-looking and manly-ambitious 2nd wife, who took over control of almost everything on the tiny island and become the World's 3rd Most Powerful Woman by Times Magazine Standard.
One in-charge of GIC and the other in-charge of TemaSICK. Both used Other People's Money derived from their hard-earned savings for a very prolonged period of time.
Investments or gambling, who knows? Who is to say one way or another? The accounts and dealings are kept almost totally secret from public scrutiny.
What can go right must go right. Likewise, what can go wrong must go wrong. Without due diligence and careful analysis of each investment or dealing, can there be wise or even good investment results? Can, possible. By fluke, a stroke of luck, or god's pity upon the commoners' money.
Whatever Rating or Ranting is not at all important. What is important is how profits and losses are made and distributed to the people where the source of money come from, or account to the people where reckless mistakes and inconceivable blunders are made.
Have they been done? No. Why not? Because it will take 500 Man-Years?
Buuuull Shiiiiit!
S&P has got it wrong several times. Its data is never meant to be reliable but only 'believe' to be reliable. We all know all dangerous belief is. Temasek should be group with countries such as swiss and lux.
"Both used Other People's Money derived from their hard-earned savings for a very prolonged period of time."
- anyone at the top of the foodchain does this.
Alamak! TummySick.
Going to lau sai very soon.
Just wait for Murphy's Law to do justice to the honest men.
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