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Temasek's value falls by $40b and the CEO is staying!

R4g3

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http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_409681.html

Temasek sees opportunities in Latin America, food, energy
Temasek looking for internal, external CEO candidates
CEO says staff will get 'negative bonuses' this year

SINGAPORE state investor Temasek said its portfolio slid by at least $40 billion, or more than a fifth, in the year to March but it will stick with banks and sees opportunities in food and energy.

The fund saw potential in Asia and Latin America and was comfortable with financial services as its core portfolio holding, despite being hurt by the market meltdown last year after its high profile investments in Western banks, CEO Ho Ching said on Wednesday.

'At this point, we are still comfortable with the financial sector as a sector that reflects the key economies we are interested in,' she said at a lunch talk organised by the Institute of Policy Studies think-tank.

She acknowledged, however, that the increased regulation of the financial sector may result in the rate of returns falling.

'In terms of sectors specifically, we are agnostic, we don't have a sectoral target,' she said, adding the fund would look at food and energy but without giving further details.

These were the first public comments by Ms Ho, also the wife of Prime Minister Lee Hsien Loong, after Temasek said last week that Charles 'Chip' Goodyear will not become CEO due to differences over strategy.

With 40 per cent of its holdings in financials, Temasek's portfolio lost nearly a third in the eight months to November, sparking unprecedented criticism in Singapore about its strategy. Ms Ho did not give the exact portfolio level as of March 2009.

'In our Temasek Review last year, we reported an annual value-at-risk of almost $40 billion last March. This meant a 16 per cent probability for our portfolio value to drop more than $40 billion by March this year. Indeed, it has turned out to be so, and more,' said Ms Ho in her speech.

Temasek had S$185 billion in assets as of end-March 2008, which fell to S$127 billion as of November 2008.

Mr Goodyear was widely expected to trim Temasek's financial holdings and move aggressively into commodities and energy and into emerging market infrastructure and consumer retail sectors, analysts and bankers have said. Ms Ho said Temasek would continue to look at internal and external candidates for her replacement.

Mr Goodyear's departure came less than six months after he was named by Temasek as the sovereign wealth fund's first foreign CEO. He would have replaced Ms Ho on Oct 1. -- REUTERS

buying high and selling low at the expense of the people with no regrets, is HE rare?

by the way what is 'Negative Bonus'? ask the top people cough out all the bonuses that they have been getting for the past years?
 

takcheksian

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Negative Bonus is another typical PAP bullshit phrase.

Think in terms of these:

"White Horse designation prevents well-connected kids from being treated better."

"Importing Foreign Talents means more jobs for sinkies"

"We are pro labour, we are pro business!"



http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_409681.html



buying high and selling low at the expense of the people with no regrets, is HE rare?

by the way what is 'Negative Bonus'? ask the top people cough out all the bonuses that they have been getting for the past years?
 

littlefish

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Loyal
by the way what is 'Negative Bonus'? ask the top people cough out all the bonuses that they have been getting for the past years?

I think it means that your bonus is, for example, -$X this year. No, you don't have to come up with the money. But next year or some future year, say if you get $Y in bonus, then you just receive $(Y-X). Of course, they will ensure that Y is greater than X to make sure they don't lose out. They will also be able to manipulate the value of Y so that they recoup the loss of X. This "negative bonus" thing is just to hoodwink the public. My opinion is that they should all get a deep pay cut (since asking to sack some of them would be like asking for the sky) until they have restored the money they lost. Do they even have a pay freeze in place?
 

TeeKee

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Lau Lee still staying, why not her?

She helped SGPlians to work extra harder mah! LOL...
 

jim007jimmyboy

Alfrescian
Loyal
Negative Bonus is another typical PAP bullshit phrase.

Think in terms of these:

"White Horse designation prevents well-connected kids from being treated better."

"Importing Foreign Talents means more jobs for sinkies"

"We are pro labour, we are pro business!"

fucking sic of these chao cheebyes
taking millions of dollars and only skills is spouting rubbish and slogans
knnbccb

FUCK PAP
 

TeeKee

Alfrescian
Loyal
SUP SUP SWAY LAH!

SGP Boh CHAP!

EVEN EVERYTHING, SGP STILL HECK CARE!

Relax...It's just paper....
 

Tiu-leh-see-fart

Alfrescian
Loyal
Have people ever wondered what kind of shits Temasick invested?

How they earn so much of money and can also lose so much of money ?

But why the goodness is not felt on the ground ???
 

ahbengsong

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Loyal
Negative bonuses mean the fat cats still get bonus but lower than previous year... so if previous year is 7 months bonus.. this year 'negative bonuses' may mean 3 months...
 

Watchman

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Loyal
The trend is for PAP-linked companies to suggest some boggie countries to invest in later . Values falls . The suck-up and pocket the difference . Report a different story .That's how they help themselves to investor's hard earned money .
 

halsey02

Alfrescian (Inf)
Asset
Negative bonuses mean the fat cats still get bonus but lower than previous year... so if previous year is 7 months bonus.. this year 'negative bonuses' may mean 3 months...

The old man sitting at the void decks or the PAVILLIONS, know what is negative bonus.

10 months minus 7 months = 3 mths, the current year bonus is NEGATIVE!:p

Can the church going shortie, dare tell the truth?, or the sake of the country? or gets slapped again?, this time by the 'hubby' instead of the 'wifey????? ha ha ha ha ha :biggrin:
 
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