Temasek
posted a $7.3 billion net loss for the 2023 financial year ended March
31, its first time in the red since a $6.7 billion loss in 2016.
Mr
Rohit Sipahimalani, Temasek’s chief investment officer, said that
Singapore in the near-term faces slowing global growth and elevated
inflation against a challenging economic backdrop.
Mr Dilhan Pillay, Temasek’s executive director and chief executive officer, pointed out key challenges in the future.
“For
the first time in decades, sticky inflation and tighter monetary
conditions are manifesting themselves in significantly higher interest
rates. The investment climate has become much more complex than what we
have encountered since the global financial crisis.” He added that
several factors portend lower global growth and lower real returns, and
are challenging issues that investors will have to grapple with.
Mr.
Sipahimalani graduated from St. Stephens College, Delhi University with
a Bachelor of Arts (Economics) degree and holds a Post Graduate Diploma
in Business Management from the Indian Institute of Management,
Ahmedabad, according to Fullerton Financial Holdings [
https://www.fullertonfinancial.com/profile/rohit-sipahimalani ].
With
high salaries from the entity come high expectations to make profits
for the entity. If profit targets are not met, or worse, losses were
made, then the personnel should be axed. That's the professional
pressure we faced when we were working in the Treasury department of the
banks here.
Anonymous
Heads rolling also no use. We have seen heads of multi billion conglomerates getting compensations by the hundreds of millions, right after being rolled.
ReplyDeleteSome may even want to offer their heads in line for rolling with that kind of money. These people are protected by contracts that promise astronomical compensations. They are not afraid to lose either. They take huge risk using OPM. When they succeed they get huge bonuses. When the fail, they get huge compensations.
Doesn't make any difference whether from Harvard University or University of Delhi or that University from down under, what's its name?
Singapore is so lucky to have hired the best talents. If not the losses would be even more.
ReplyDeleteSay thank you to the top talents.
Aiyo Today's Shits Times had a report that this lost only a SIDELINE lah!
ReplyDeleteSweetener they will have the last word that All is Ok with the balance Ah Kong or Agong-monies still doing well lah!
Think long term lah! Long term gonna lost even the G String.
SGD7.3 billion can buy 50 US F-35 fighter jets at indicative cost of US$110 million each. That would have been a big boost to Singapore's aerial military defense . . .
ReplyDeleteBreaking news: S. Iswaran asked to take leave of absence by PM Lee pending an investigation by the CPIB.
ReplyDeleteToo long no pay rise for ministers.
ReplyDeleteCECA shake head, "Yes Sir, the needful will be done" will kautim banana Pappies
ReplyDeleteGoogle is shedding 11,000 jobs but still paid its Indian CEO Sundar Pichai USD268M. Thats right in ONE year. So what is 7BIllion to Temasek.sap sap sui leh.
ReplyDeleteST Headline:
ReplyDeleteTemasek’s performance: A little down, but definitely not out .. Ven Sreenivasan
Wow, $7.3 billion net loss is a "little" down!
ReplyDeletePeople ask why does the government employ so many charlatans from India with fake degrees and qualifications as CEOs and directors of Government Linked Companies. In turn these India Indian CEOs and directors feel free to fill up Singpore GLCs with hordes of workers from their native villages. A case in point DBS Indian CEO investment of billions of dollars in failed Indian banks is just money thrown into black sink holes. Singapore is done and finished if the people and government do not wake up.
An outraged citizen and tax payer.
Welcome to the blog, An outraged citizen and tax payer.
ReplyDeleteDoes anyone realise why the Iswaran investigation follows so fast after the Ridout Road bungalows issue?
ReplyDeleteIswaran is undoubtedly the sacrificial lamb, otherwise Pinky would have to lose three ah nehs at one go, which is catastrophic. Now that the Ridout Road issue is under the carpet, we can be rest assured that Iswaran is one scapegoat that is not going to escape. Or I could be wrong?
Dircetor of Medical Services became GENERAL of Medical Services or something to that title.
ReplyDeleteHello, please instruct all your Medical Doctors and Kia Kaks NOT to anyhow issue Sleeping Suicide Tablets.
Not another Teh Chiang Wan episode.
Better takd cyanide.
Cheers
Pinky was reported to be aware of the Iswaran case in May. Why take so long to decide? Should Iswaran not be told to go on leave from May?
ReplyDeleteTeh Chiang Wan was an 'oriental gentleman' according the the old man, and he took his life like a gentleman. Will this ah neh do the same? I think just a slap on the wrist and under the carpet he goes is all we can expect. His case will not be swept under the carpet, given the assurance by LW, but ah neh personally will be going under the carpet instead. Same same no shame.
Under his watch, COEs prices shoot to the roof without any solution to moderate, cyclists allowed to run wild on Singapore roads . . .
ReplyDeleteHis greatest achievement was F1. What was the cost?
ReplyDeleteF1 a colossal waste of money. A colossal inconvenience for those working at Marina Bay.
ReplyDeleteDid Singapore actually make any money out of the F1? Earlier it was touted to be an event that will attract foreigners to visit and shop at Orchard Road and Marina Bay. Wonder what is the latest snake oil they are selling?
ReplyDelete