SIA lost so much on the Virgin Atlantic stake

[winnipegjets]

On 20 December 1999 Richard Branson signed an agreement to sell a 49% stake of Virgin Atlantic to Singapore Airlines to form a unique global partnership. The cost of the transaction to Singapore Airlines was £600.25 million, which included a capital injection of £49 million and valued Virgin Atlantic at a minimum of £1.225billion.

Delta paid $360-million (U.S.) last year for 49 per cent of Virgin.

Exchange rate was USD1.6 in 1999, so SIA spent US$1.04 billion. The loss to SIA for this investment is US$678 million.

 

[eatshitndie]

it's part of taking risks when loss of virginity is at stake. all in all, sia will make money year on year.

 

[virus]

it's part of taking risks when loss of virginity is at stake. all in all, sia will make money year on year.

Alrdy a whore, whorejinx don't hv virginity to speak about. This loss is nothing compared to that on ansett collapse

 

[halsey02]

Alrdy a whore, whorejinx don't hv virginity to speak about. This loss is nothing compared to that on ansett collapse

They tell you, they "did not touch your money (CPF)", the money is from their Stakeholders ( Ministry of Finance, etc), so no worry lah!.....they "grow money in the backyard"...so, THEY DID NOT TOUCH YOUR MONEY!

Everything they do, is 'LONG TERM INVESTMENTS"...but they sell it SHORT TERM, at a loss!...their investing strategy so far, from reading the presses is ' BUY HIGH, SELL VERY LOW"...

They other thing is they seems to have an 'ANG MOH TUA KEE" mentality, from all the investments they had made so far with them...the "ANG MOH's" just love them.... for they seem to be the number "suckers" in this world

NO SIR!...THEY DID NOT TOUCH YOUR MONEY (CPF)..NO SIR!

 

[frenchbriefs]

if u read richard branson's books,u would know that SIA/PAP also wanted to buy Virgin Australia airlines,they offered 250 million far higher than the closest bidder which was 120 million for a airline that took only 30 million to set up 4 years ago.they way overpaid.the truth was SIA/PAP was deathly afraid of Virgin's brand and saw how successful richard brandson could be when it comes to his enterprises.they merely bought the stake in order to protect their future loss of business.


ever wondered why virgin mobile failed in singapore when its so hugely successful in many other countries?

 

[JohnTan]

if u read richard branson's books,u would know that SIA/PAP also wanted to buy Virgin Australia airlines,they offered 250 million far higher than the closest bidder which was 120 million for a airline that took only 30 million to set up 4 years ago.they way overpaid.the truth was SIA/PAP was deathly afraid of Virgin's brand and saw how successful richard brandson could be when it comes to his enterprises.they merely bought the stake in order to protect their future loss of business.

Facebook did the same with Instagram, which was growing faster than it was.

 

[Victory2016]

Even if you are a PAP supporter, it is highly undesirable not to have parliamentary oversight over all our National assets.

 

[JohnTan]

Insinuation that our PAP leaders are not clean is not wise unless you have evidence. That's why I did not reply you with quote.

In any case, many netizens have complained that we spent way too much on defence. If war breaks out between Singapore and her neighbours, you would realize that all the money we spent on defence was worth it. How else do you think our apartments here can cost over $500k, while a house in Malaysia, despite being twice as large, is worth only half of our HDB flats?

Would you rather have Singapore as your home, or Indonesa or Malaysia? You are always welcome to uproot and go, and you can clean out your CPF account too. That's what many singaporeans are accusing foreigners from India and Philippines of doing - cashing out after making their pot of gold. There's absolutely nothing stopping sinkies from doing likewise, and building their new palatial homes in some village on Luzon island or somewhere in India.

 

[syed putra]

if u read richard branson's books,u would know that SIA/PAP also wanted to buy Virgin Australia airlines,they offered 250 million far higher than the closest bidder which was 120 million for a airline that took only 30 million to set up 4 years ago.they way overpaid.the truth was SIA/PAP was deathly afraid of Virgin's brand and saw how successful richard brandson could be when it comes to his enterprises.they merely bought the stake in order to protect their future loss of business.


ever wondered why virgin mobile failed in singapore when its so hugely successful in many other countries?

Virgin is not a Threat to SIA. But SIA thought can use virgin as a connecting airline into Americas from heathrow hub.

 

[Hans168]

On 20 December 1999 Richard Branson signed an agreement to sell a 49% stake of Virgin Atlantic to Singapore Airlines to form a unique global partnership. The cost of the transaction to Singapore Airlines was £600.25 million, which included a capital injection of £49 million and valued Virgin Atlantic at a minimum of £1.225billion.

Delta paid $360-million (U.S.) last year for 49 per cent of Virgin.

Exchange rate was USD1.6 in 1999, so SIA spent US$1.04 billion. The loss to SIA for this investment is US$678 million.

and yet the recalcitrant heads still intact......... CEO Dr Cheong even went on to become chairman of ocbc

 

[Scrooball (clone)]

if u read richard branson's books,u would know that SIA/PAP also wanted to buy Virgin Australia airlines,they offered 250 million far higher than the closest bidder which was 120 million for a airline that took only 30 million to set up 4 years ago.they way overpaid.the truth was SIA/PAP was deathly afraid of Virgin's brand and saw how successful richard brandson could be when it comes to his enterprises.they merely bought the stake in order to protect their future loss of business.


ever wondered why virgin mobile failed in singapore when its so hugely successful in many other countries?

Virgin Mobile was a joke. It offered prepaid card scheme instead of postpaid. And it's package was not much different.

 

[frenchbriefs]

Virgin Mobile was a joke. It offered prepaid card scheme instead of postpaid. And it's package was not much different.

i think richard branson had a explanation for that.he wanted to make cellphones more cheaper and accessible to the youth market who were still studying or in a low income job.prepaid was the way to go as it did not require expensive plans that were layered with additional hidden fees by traditional mobiles providers.and its true that pre paid is the way to go,look at how popular prepaid is with the foreign workers in singapore.

 

[Merl Haggard]

Insinuation that our PAP leaders are not clean is not wise unless you have evidence. That's why I did not reply you with quote.

In any case, many netizens have complained that we spent way too much on defence. If war breaks out between Singapore and her neighbours, you would realize that all the money we spent on defence was worth it. How else do you think our apartments here can cost over $500k, while a house in Malaysia, despite being twice as large, is worth only half of our HDB flats?

Would you rather have Singapore as your home, or Indonesa or Malaysia? You are always welcome to uproot and go, and you can clean out your CPF account too. That's what many singaporeans are accusing foreigners from India and Philippines of doing - cashing out after making their pot of gold. There's absolutely nothing stopping sinkies from doing likewise, and building their new palatial homes in some village on Luzon island or somewhere in India.

Well at least Ah Neh has declared that he'll step down when it's time for him to do so; unlike the no-shamed old traitorous bastard who refuses to leave & keeps publishing book after book after book about his greatness.

 

[syed putra]

if u read richard branson's books,u would know that SIA/PAP also wanted to buy Virgin Australia airlines,they offered 250 million far higher than the closest bidder which was 120 million for a airline that took only 30 million to set up 4 years ago.they way overpaid.the truth was SIA/PAP was deathly afraid of Virgin's brand and saw how successful richard brandson could be when it comes to his enterprises.they merely bought the stake in order to protect their future loss of business.


ever wondered why virgin mobile failed in singapore when its so hugely successful in many other countries?

eventually SIA bought about 20% of virgin australia. I think already spent A$25o mil for the 20%.

 

[frenchbriefs]

eventually SIA bought about 20% of virgin australia. I think already spent A$25o mil for the 20%.

richard branson spends tens of millions to build companies that sells for billions,PAP is the only entity that spends billions on companies that goes to zero.

 

[Narong Wongwan]

Virgin Mobile was a joke. It offered prepaid card scheme instead of postpaid. And it's package was not much different.

Virgin mobile failed in Sg because it did not get the 4th telco license.
It was basically only operating as a prepaid line reseller for Singtel.

 

[Scrooball (clone)]

Virgin mobile failed in Sg because it did not get the 4th telco license. It was basically only operating as a prepaid line reseller for Singtel.

Why did u repeat what I just said in more words?

 

[frenchbriefs]

Virgin mobile failed in Sg because it did not get the 4th telco license.
It was basically only operating as a prepaid line reseller for Singtel.

Singtel market cap is 64 billion,its easily the largest and most profitable Singaporean business in Singapore.plus starhub and m1 are all owned by temasek.there is no way they are going to let Richard branson swoop in on the action like that.plus the tactics they used to scare him and buy out virgin Australia,saying they have massive resources and bribing him with 250 mil of our money.I'm surprise he didn't black mouth Singapore in his books.

 

[johnny333]

Would you rather have Singapore as your home, or Indonesa or Malaysia? You are always welcome to uproot and go, and you can clean out your CPF account too.....

Many Sporeans have already bought property in JB
More would do so if it wasn't for the Malaysian rules regarding the minimum cost of properties sold to foreigners be worth RM$500,000 or more . There is also the problem of both sides increasing the toll to use the causeways

 

[JohnTan]

Many Sporeans have already bought property in JB
More would do so if it wasn't for the Malaysian rules regarding the minimum cost of properties sold to foreigners be worth RM$500,000 or more . There is also the problem of both sides increasing the toll to use the causeways

They bought the JB property, like Iskandar area, to rent out. They didn't buy it so that they can move there permanently. The few who did so still mostly shuttle to work in Singapore. At the end of the day, they still need Singapore. Haven't exactly upped and left sinkieland for good. And they are unhappy with foreigners who do after they are satisfied with their little pot of gold?