<TABLE id=msgUN border=0 cellSpacing=3 cellPadding=0 width="100%"><TBODY><TR><TD id=msgUNsubj vAlign=top>They lost about $800M, but it's not even in the headline of the 154th. Is $800M loose change to the Lau CB or what?
Coffeeshop Chit Chat - GIC loose money yet again --paiseh lah
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Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>Cooldipsingh <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>Jan-11 9:31 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 12) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>27018.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>When did they NOT loose any money.
Is there any accountability left.
<TABLE border=0 cellSpacing=0 cellPadding=0 width=560><TBODY><TR><TD vAlign=top width=550 colSpan=2>GIC lost on NY property <!-- TITLE : end--><!--
GIC is believed to have written off over $798 million over investment in property. -ST --></TD></TR><TR><TD>
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</TD></TR><TR><TD class=content_subtitle align=left>Mon, Jan 11, 2010
The Straits Times </TD></TR></TBODY></TABLE></TD><TD width=400 align=right><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR><TD vAlign=top align=right> </TD><TD height=15>
</TD><TD vAlign=top align=right></TD></TR></TBODY></TABLE><TABLE><TBODY><TR><TD></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD><!-- Story Without Image / With eXtra Large Image End --></TD></TR><TR><TD class=bodytext_10pt colSpan=3><!-- CONTENT : start -->By Robin Chan
THE Government of Singapore Investment Corporation (GIC) has confirmed that it incurred losses from an investment in a prime New York property project after the American owners defaulted on a debt payment at the weekend.
GIC is believed to have written off over US$575 million (S$798 million) and it confirmed to The Straits Times that it 'recognised the losses' on its investment last year in Manhattan's Stuyvesant Town and Peter Cooper Village, two enormous housing apartment blocks bought for US$5.4 billion.
<TABLE border=0 cellSpacing=2 cellPadding=2 width=300 align=right><TBODY><TR><TD><!-- Copyright DoubleClick Inc., All rights reserved. --><!-- This code was autogenerated @ Tue Dec 29 01:45:43 EST 2009 --></TD></TR></TBODY></TABLE>GIC did not reveal the exact losses it incurred.
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Is there any accountability left.
<TABLE border=0 cellSpacing=0 cellPadding=0 width=560><TBODY><TR><TD vAlign=top width=550 colSpan=2>GIC lost on NY property <!-- TITLE : end--><!--
GIC is believed to have written off over $798 million over investment in property. -ST --></TD></TR><TR><TD>
The Straits Times </TD></TR></TBODY></TABLE></TD><TD width=400 align=right><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR><TD vAlign=top align=right> </TD><TD height=15>
THE Government of Singapore Investment Corporation (GIC) has confirmed that it incurred losses from an investment in a prime New York property project after the American owners defaulted on a debt payment at the weekend.
GIC is believed to have written off over US$575 million (S$798 million) and it confirmed to The Straits Times that it 'recognised the losses' on its investment last year in Manhattan's Stuyvesant Town and Peter Cooper Village, two enormous housing apartment blocks bought for US$5.4 billion.
<TABLE border=0 cellSpacing=2 cellPadding=2 width=300 align=right><TBODY><TR><TD><!-- Copyright DoubleClick Inc., All rights reserved. --><!-- This code was autogenerated @ Tue Dec 29 01:45:43 EST 2009 --></TD></TR></TBODY></TABLE>GIC did not reveal the exact losses it incurred.
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