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Thread: PE: Four-cornered fight for Presidential race

  1. #21
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    Default Singapore Temasek selling stake in Shin Corp - IFR

    Not good, reserve dropping...
    "Bought in 2006 at 49.25 baht per share and now selling at a loss of 35.5 and 37.25 baht per share, not including interests. What a great way to manage our country's reserves"..., believe there could be forex loss as well...

    "is the timing of the sales pure coincidence? Temasek bought Shin Corp from Thaksin in 2006. And now selling Shin Corp shares right after Thaksin's sister Yingluck Shinawatra was voted in the new Prime Minster last week"

    http://www.reuters.com/article/2011/...7JH2NA20110817

    Singapore Temasek selling stake in Shin Corp - IFR

    SINGAPORE, Aug 17 (Reuters) - Singapore state investor Temasek is selling 253.5 million shares in Thailand's Shin Corp at between 35.5 and 37.25 Thai baht a share, in a deal that could raise up to 9.44 billion Thai baht ($316 million), IFR Asia reported.

    The accelerated bookbuilding for the deal was launched by Cedar Holdings, a Temasek-owned entity, late on Wednesday through sole bookrunner Morgan Stanley , IFR said.

    A Temasek spokeswoman in Singapore declined to comment.

    Temasek bought its Shin Corp stake from the family of Thailand's former prime minister Thaksin Shinawatra in 2006. After Shinawatra was deposed later that year, Temasek signalled it would reduce its stake in the telecoms firm

  2. #22
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    Current share price of Citibank tonite is about USD30/- and UBS is 11.62 CHF, lo$$


    Business Times - 26 Jul 2011

    GIC's long-term view on Citi, UBS unchanged

    By CONRAD TAN

    (SINGAPORE) The Government of Singapore Investment Corp's long-term view on Citigroup and UBS hasn't changed despite higher capital requirements that are likely to reduce the banks' future profitability, GIC's investment chief Ng Kok Song said yesterday.

    GIC's original investment of 11 billion Swiss francs (S$16.2 billion) in UBS, made in March 2008, is still showing a heavy paper loss of some 5.6 billion francs, BT's calculations show. By contrast, its remaining stake in Citigroup is showing an unrealised gain of some US$1.1 billion, by BT's estimates.

    'All global banks are likely to be affected to some extent' by the new Basel III international capital rules, Mr Ng, GIC's group chief investment officer, told reporters at a briefing. 'But our investment thesis for Citi and UBS was based on our assessment of their long term business potential.'

    'In the case of Citigroup, it is one of the few banks in the world with such a big franchise in global emerging markets. Its recent results showed that, notwithstanding its losses in the US, it continued to earn very good profits and to grow its business in the emerging economies.

    'In the case of UBS, we're talking about the wealth management business, which is the heart of UBS. The wealth management business is less affected by the capital increases, because you don't need that much capital to run the wealth management business as compared to trading in the investment bank.

    'So our long term view on these two banks remains unchanged. But in the short term, they, like most of the global banks, are affected by sentiment in the market.'

    Meanwhile, potential losses from bad debt at Chinese banks are unlikely to overwhelm China's banking system, he said. 'The Chinese government has the financial wherewithal, if necessary, to recapitalise the banks, so I don't think you're going to have a systemic problem such as what we saw in Europe.'

    GIC owns 245.48 million UBS shares, or a stake of 6.41 per cent in the bank, UBS's latest annual report shows. That stake would be worth some 3.41 billion francs, at UBS's share price of 13.88 francs at 9.30pm Singapore time yesterday. Even after including the 1.98 billion in coupon payments that GIC received in the first two years of its investment in UBS, its paper loss is about 5.6 billion francs, or 51 per cent of the original 11 billion francs.

    By contrast, its current stake in Citi is showing a large paper gain.

    After selling half its original stake in Citi for a profit of US$1.6 billion in September 2009, GIC still owns 3.86 per cent of the bank's ordinary equity - or about 112.095 million shares.

    The average cost of those shares was US$29.50 each - after adjusting for a reverse split of Citi shares in May that merged every 10 of its shares into one share - based on information provided by GIC in September 2009.

    At yesterday's opening price of US$39.69 for Citi shares in New York, the shares would be worth about US$4.45 billion, compared to the US$3.31 billion cost of acquiring them, giving GIC a paper profit of US$1.14 billion, or some 34 per cent.
    Last edited by land118; 18th August 2011 at 01:29 AM.

  3. #23
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    Quote Originally Posted by land118
    Just saw whole list of this video on youtube

    http://www.youtube.com/watch?v=mFo9OzROkmA
    TAN JEE SAY: ‘MY SUPPORTERS WERE NOT RIGHT TO BOO TONY TAN’

    http://thesatayclub.net/2011/08/tan-jee-say-my-supporters-were-not-right-to-boo-tony-tan/`

    asked them liao, they said at that point in time , they represent the PEOPLE

    Give Up

    By Nigel Tan

    Chief Editor

    Presidential candidate Tan Jee Say demonstrated that he could play a unifying role as Singapore’s President by admitting that his supporters were not right to boo rival candidate Dr Tony Tan at the People’s Association headquarters on Nomination Day. He added that he always tells his supporters to conduct themselves in a “civil” manner.

    “I thought that was not the correct way to conduct our campaign. We should show respect to everyone,” he said.

    Mr Tan has been described as having a direct and confrontational style, an image that is augmented by his past associations with the Singapore Democratic Party (SDP). However, the former senior civil servant insists that “being forceful shouldn’t be construed as being confrontational or combative”.

    He further explained that Singapore could not to afford to have a “meek President”, since it was the President’s duty to stand up to a “strong and formidable government that has been in office for a long time”.

    Mr Tan’s supporters jeered loudly when Dr Tony Tan was making his Nomination Day speech, chanting “**** liao bee” (Hokkien for “good for nothing) and “Patrick Tan”, in an obvious reference to his son who was given a 12-year disruption from National Service while Dr Tan was Defence Minister.
    Earlier, Dr Tan – who is widely seen as the candidate most closely associated with the ruling People’s Action Party (PAP) – expressed that he was “deeply disappointed” by the jeers that he received at the nomination centre. He argued that Singaporeans should give all four Presidential candidates a fair chance to be heard.

    Dr Tan has insisted that the President does not have the power to serve as a check and balance on the government, and that the office cannot be an alternative power centre. He says that he will raise issues informally and in private with the government, and believes that his views will be influential because the Prime Minister and other cabinet ministers know him well.

    The author is Chief Editor of The Satay Club

  4. #24
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    Default Foolish to Build MRT now - TT (1981)

    In 1981, MRT project was the largest and biggest construction ever in Singapore history was pushed through by the Late , Ong Teng Cheong, then was the Minister of Transport. Of course there were barrier and resistance from the Parliament but TT opposed this....

    ST article in 1981 below

    "Foolish to build MRT now: Tony Tan"

  5. #25
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    maybe former ayer rajah pap voters who voted for TCB does not vote for TT leh? So he will get less than 60.1.

    but TJS and TCB will likely take votes off each other. TKL looks like he will get the least votes.


    Quote Originally Posted by TKT
    Firstly, if 60.1% remain steadfast and vote TT, no need fight anymore la...

    Also, Spore politics still very immature...
    Ideally, should be one vs one fight...but this just goes to show that PAP is heads and shoulders ahead, while 'opposition' naively split the fertile ground themselves by surfacing with 3 'good' candidates.

    If upfront cannot cham siong and compromise, its foregone conclusion ~~ today's 4-corner election announcement just "confirmed" TT will slay all the rest!


  6. #26
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    i disagree. i think tcb may be more like ong teng cheong.

    Quote Originally Posted by Regulators
    Just vote for tjs lah, tt and tcb will just be another two pap parrots.

  7. #27
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    Quote Originally Posted by bargain hunter
    i disagree. i think tcb may be more like ong teng cheong.
    yes!

    support TCB!!!!!!!!!!!!!!

  8. #28
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    Quote Originally Posted by bargain hunter
    maybe former ayer rajah pap voters who voted for TCB does not vote for TT leh? So he will get less than 60.1.

    but TJS and TCB will likely take votes off each other. TKL looks like he will get the least votes.
    This is our president election. If its a much more important role like PM den i surely go for the safest TT

    TJS and TKL NO WAY

    TCB.....go go go!

  9. #29
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    Quote Originally Posted by Regulators
    Just vote for tjs lah, tt and tcb will just be another two pap parrots.
    funny comment

    den TJS will just be another opposition parrot?

  10. #30
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    PAP supporters will vote for PAP parrots. Non-PAP supporters will vote for non-PAP parrots! Simple?

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