$300mil here, $300mil there - hope its not another mistake

[OldFart]

So nice to spend money which is not yours -

Temasek Unit to Buy Stake in Indonesian Retailer

WSJ

JAKARTA, INDONESIA—A unit of Singapore state investment company Temasek Holdings plans to buy 26.1% of Indonesian retailer PT Matahari Putra Prima, highlighting Indonesia's growing attractiveness to institutional investors due to its increasingly affluent middle class.

The unit, Anderson Investments, will offer up to 2.9 trillion rupiah ($300 million) to buy public shares in Matahari Putra, majority stakeholder PT Multipolar said in a statement Tuesday. Multipolar added that it will maintain its 50.2% stake in the retailer. A Temasek spokesman confirmed the investment plan. . . . . . . . . . . . . . . .

Anderson Investments will offer 2,050 rupiah (21 U.S. cents) a share for the Matahari Putra shares, Multipolar Corporate Secretary Chrysologus Sinulingga told Dow Jones Newswires. PT Ciptadana Securities, a Multipolar affiliate, will be appointed to "pool" the shares from public investors over the course of about two years, he said.

Public confidence in the retailer will increase by having "a global investor with a solid international reputation," he added. Matahari Putra's shares closed up 13.7% at 1,740 rupiah in Jakarta on Tuesday, while the broad market ended down 0.25%. . . . . . .

 

[halsey02]

LONG TERM INVESTMENT means THE LONGEST TERM WITHDRAWAL, maybe at 99 years of age & every month $350 in the year 2030.

 

[laksaboy]

Lose money, never mind, ask you for more money to gamble.

Win money, keep the winnings for herself to gamble more.

 

[halsey02]

Lose money, never mind, ask you for more money to gamble.

Win money, keep the winnings for herself to gamble more.

Make money, the spread the joy to themselves, & make provision of the balance telling you, they have to save for the RAINY DAYS. Maybe give, mustard seed payout to us. When they have lost a great deal, we share their losses & average the loss.

 

[Enforcer]

There goes my CPF :(

 

[Prometheus888]

So nice to spend money which is not yours -

Temasek Unit to Buy Stake in Indonesian Retailer

WSJ

JAKARTA, INDONESIA—A unit of Singapore state investment company Temasek Holdings plans to buy 26.1% of Indonesian retailer PT Matahari Putra Prima, highlighting Indonesia's growing attractiveness to institutional investors due to its increasingly affluent middle class.

The unit, Anderson Investments, will offer up to 2.9 trillion rupiah ($300 million) to buy public shares in Matahari Putra, majority stakeholder PT Multipolar said in a statement Tuesday. Multipolar added that it will maintain its 50.2% stake in the retailer. A Temasek spokesman confirmed the investment plan. . . . . . . . . . . . . . . .

Anderson Investments will offer 2,050 rupiah (21 U.S. cents) a share for the Matahari Putra shares, Multipolar Corporate Secretary Chrysologus Sinulingga told Dow Jones Newswires. PT Ciptadana Securities, a Multipolar affiliate, will be appointed to "pool" the shares from public investors over the course of about two years, he said.

Public confidence in the retailer will increase by having "a global investor with a solid international reputation," he added. Matahari Putra's shares closed up 13.7% at 1,740 rupiah in Jakarta on Tuesday, while the broad market ended down 0.25%. . . . . . .

Exactly what does this Indon company do again?????

 

[BlueBrother]

There goes my CPF :(

You can trust Indonesian corporate governance ? No safer investment eslewhere in the world ? You are right, there goes a chunk of our CPF money.

 

[OldFart]

Exactly what does this Indon company do again?????

(From the same article)

Temasek's investment in Matahari—which operates 80 hypermarkets in more than 52 Indonesian cities, targeting mostly middle-class buyers—is in line with its strategy of tapping sectors that benefit from rising middle-class income in emerging markets. . . . . . . .

The Riady family, which owns Multipolar via its parent, the Lippo Group, has said it would seek a partner to help open 80 new stores across the country over the next five years.

Matahari Putra's net sales in the first nine months of 2012 were up 22% from a year earlier, to 8 trillion rupiah ($827.2 million), with net profit nearly doubling to 170 billion rupiah.

Temasek has been linked to another Indonesian "Matahari" with a connection to the Lippo Group—Matahari Department Store. In January, The Wall Street Journal reported that private-equity firm CVC Capital Partners is seeking cornerstone investors for a planned $1.5 billion share sale in the department store chain, and bankers have approached Temasek, among others. CVC owns about 80% of Matahari Department Store, while the Riady family owns most of the rest, after selling a stake to CVC in 2010 for $770 million.

(End)

 

[Enforcer]

You can trust Indonesian corporate governance ? No safer investment eslewhere in the world ? You are right, there goes a chunk of our CPF money.

Don't let the old man Equalisation knows this. He might just dive into bedrock reservoir. That poor old man has been grumbling about his CPF money since PE BE

 

[laksaboy]

Lippo Group eh? The pappies are truly addicted to the dirty money of those Riady crooks.

 

[zhihau]

Lippo Group eh? The pappies are truly addicted to the dirty money of those Riady crooks.

go look at the number of projects they have at Sentosa Cove...

 

[Froggy]

Seems like Singaporeans knows pretty much what's happening between Lippo and our masters.

 

[Travellor]

Seems like Singaporeans knows pretty much what's happening between Lippo and our masters.

I guess there are a lot more which Sinkies do not know and will never see the light of day.....

 

[Confuseous]

Lippo Group eh? The pappies are truly addicted to the dirty money of those Riady crooks.

Good friends of the Clintons.

 

[Rambutan]

Seems like they never learn. Where did that $1.7 million come from?

http://www.google.com/hostednews/af...ocId=CNG.ab5297e19a143caec7db73837a50a9be.461

Temasek pays $1.7 mln Indonesia telecom fine
(AFP) – Feb 10, 2011

SINGAPORE — Singapore state investment firm Temasek Holdings said it had paid a 15 billion rupiah ($1.7 million) fine imposed for breaching anti-competition laws in Indonesia's telecoms sector.

In Friday's statement, Temasek confirmed paying the fine imposed by Indonesia's Business Competition Supervisory Commission, or KPPU.

The commission ruled in November 2007 that Temasek was guilty of anti-competitive behaviour through its stakes in Indonesia's two biggest domestic mobile phone operators, PT Telkomsel and PT Indosat.

Temasek said it made the payment in compliance with an Indonesian Supreme Court ruling that upheld the commission's decision, but maintained it has "never been involved" in any irregularity.

Analysts said Temasek decided to pay the fine to avoid damaging further investment in Indonesia.

"I think that they clearly are looking to Indonesia as a potentially lucrative market for their investments," said David Cohen, director of Asian economic forecasting at Action Economics.

He told AFP it was easier for Temasek to pay the fine and "get on with things".

Indonesia, a resource-rich country that is Southeast Asia's biggest economy, is seen as a key emerging market by investors.

The Indonesian economy grew 6.1 percent in 2010, making it among the best performers in the Group of 20 rich and developing countries.

The fine on Temasek is part of a total of 150 billion rupiah in penalties imposed on the Singapore state-linked investment firm and related companies by Indonesian authorities.

Temasek and nine other companies affected by the KPPU ruling, including Telkomsel, were each fined 15 billion rupiah.

In addition to the fine, the KPPU ordered Temasek to divest its holdings in either PT Telkomsel or PT Indosat.

Singapore Technologies Telemedia, a wholly-owned unit of Temasek, sold off its interest in PT Indosat to business partner Qatar Telecom in June 2009.

Temasek indirectly holds 35 percent of Telkomsel via its 56-percent owned unit Singapore Telecommunications Ltd. (SingTel).

One of the world's largest sovereign wealth funds, the collective value of Temasek's global investments reached Sg$186 billion as of end March 2010.

It also holds stakes in many of Singapore's leading companies, including Singapore Airlines and Singapore Telecom.

In Friday's statement, Temasek senior managing director for strategic relations Goh Yong Siang said the company decided to pay the fine because it is a "long-term investor with a policy of complying with laws and regulations in all relevant jurisdictions".

But he maintained that Temasek "has never been involved in the operational or pricing decisions of PT Telkomsel or PT Indosat, and has not contravened Indonesia's anti-monopoly laws".

 

[leetahbar]

i think very few could understand the logic of tamasick's sickening way of doing biz. they sell our local profitable biz and icon like F&N then buy other countries' loss making biz. the recent one being pakistan telecom which lost hundreds of millions.

 

[Blaupunkt]

You can trust Indonesian corporate governance ? No safer investment eslewhere in the world ? You are right, there goes a chunk of our CPF money.

Laundering rite. Lose money on the right pocket but money was found on the left pocket.

 

[winnipegjets]

Those investment managers/directors that lost billions of sinkee's money ....nothing happened to them. Merrytocracy is celebrated in Temasek!

 

[palden]

There goes my CPF :(

No worries. You will be paid in rupiah.