Cheebye Hwee Hua says "Not realistic" for GIC to avoid losses, woh

[Papsmearer]

WTF, not realistic to avoid loses her chao chee bye. Losses is one thing. but we are not talking about a few thousands or even a few million dollars. We are talking about billions of dollars. In volatile times, u move into cash and wait it out. Instead of investing in risky projects that every one else avoids. How are we ever going to recover this losses? the chao chee bye cocksuck has the further temerity to say that GIC and Temasek has achieved "credible returns" over the lon g term. When their books are not opened for the public to see, how do we knowthey are credible? What is her definition of credible? Do we believe the shit coming out from her chee bye mouth?

Fri, Mar 12, 2010
The Straits Times




'Not realistic' for GIC to avoid making any losses

By Fiona Chan

THE Government of Singapore Investment Corporation (GIC) takes it 'very seriously' every time there is a decline in the value of its portfolio or an individual investment, Mrs Lim Hwee Hua said yesterday.

But it is 'not realistic' to avoid losses on every investment as that would require GIC to be completely risk-averse, added Mrs Lim, who is Minister in the Prime Minister's Office and Second Minister for Finance and Transport.


Responding to Madam Ho Geok Choo's (West Coast GRC) request in Parliament for an update on GIC's investments, Mrs Lim said that while the state investment agency has made losses on some investments, it has made gains on others.

GIC's portfolio slumped 20 per cent in the financial year ended March last year, but it said in September that it had recovered more than half of those losses.

Since then, some GIC losses have hit the headlines: its investment in Stuyvesant Town and Peter Cooper Village, an apartment complex in Manhattan that was foreclosed on, and a paper loss from its investment in Swiss banking giant UBS.

But Mrs Lim reiterated yesterday that the Government will not judge GIC's performance by individual deals but rather on how well its overall portfolio has done across market cycles.

She said both GIC and Temasek Holdings have so far delivered 'creditable' returns on their portfolios over the long term as well as during the six-year cycle between March 2003 and March last year - that is, from the trough of the dot.com bust to the trough of the credit crisis.

Yesterday, Mr Inderjit Singh (Ang Mo Kio GRC) suggested that it might be 'timely' for GIC and Temasek to adopt a more conservative mandate in view of the losses they have made recently.

Replying, Mrs Lim said that doing this as a knee-jerk reaction to the recent downturn would not be prudent as it could compromise the ability of GIC and Temasek to deliver long-term sustainable returns.

But she added that the investment strategies and approaches of the two investment agencies will 'evolve and adapt to structural changes in the investment environment'.

This article was first published in The Straits Times.

 

[Brightkid]

I think people can accept, and probably even agree, that every investment has a risk of losing money.

However, in the case of TH, where they hired tonnes of supposely top-brains, it is not acceptable that some deals are really lemons at time of buying, or buying at the wrong time

Noticed that there is not a single value being highlighted in LHH's speech. If any MP is present or awake during her speech, he/she should have asked for a tabulation of the win/lost chart for her to justify her position.

Loosing money (lots of it) with all the 'talents' in TH, is not acceptable and need to be accountable to the people.

 

[Papsmearer]

I think people can accept, and probably even agree, that every investment has a risk of losing money.

However, in the case of TH, where they hired tonnes of supposely top-brains, it is not acceptable that some deals are really lemons at time of buying, or buying at the wrong time

Noticed that there is not a single value being highlighted in LHH's speech. If any MP is present or awake during her speech, he/she should have asked for a tabulation of the win/lost chart for her to justify her position.

Loosing money (lots of it) with all the 'talents' in TH, is not acceptable and need to be accountable to the people.

That's why this cheebye mouth Hwee Hua pisses me off. People accept the fact that some times u lose money. But its happening deal after deal. Its not the occasional losses. Its like 3 or 4 in a a row, and its big losses, in the billions $ per deal. These are absolutely avoidable. The Norwegian Sovereign wealth fund spread its money among 7000 of the world's best companies. That way, their exposure is limited even if 3 or 4 companies don't do well out of 7000. This is call avoiding risk. But Temasek and GIC sink all their eggs into a few baskets. This Hwee hua siao charboh supposed to be some high flyer economist shit. I think she knows jack all about investing.

 

[halsey02]

That's why I say, every ah pek & ah soh knows that, you do business expect some losses.

But whose money are they using to invest?, even though the government is a stakeholder in Temasek & GIC; the money is given from Min Of Finance. Where did MOF gets their funds, grow ' money trees'!

What we are talking about is transparency & accountability, do we still need the old man to tell us, "it is not in our interest to know"?

 

[Ramseth]

Noticed that there is not a single value being highlighted in LHH's speech. If any MP is present or awake during her speech, he/she should have asked for a tabulation of the win/lost chart for her to justify her position.

Given the choice, Temasek and GIC would reveal nothing. That some investments are revealed because there's no choice - the stakes in the counterparties are too big and the counterparties would reveal it anyway. Furthermore, a labyrinth of subsidiaries are used to channel investments. If SingTel or CapitaLand makes a big foreign investment, we all know that means Temasek has a big stake in it. However, there're many relatively unknown subsidiaries that carries a very fine print at the bottom of their letterheads a subsidiary of Temasek Holdings.

 

[halsey02]

Given the choice, Temasek and GIC would reveal nothing. That some investments are revealed because there's no choice - the stakes in the counterparties are too big and the counterparties would reveal it anyway. Furthermore, a labyrinth of subsidiaries are used to channel investments. If SingTel or CapitaLand makes a big foreign investment, we all know that means Temasek has a big stake in it. However, there're many relatively unknown subsidiaries that carries a very fine print at the bottom of their letterheads a subsidiary of Temasek Holdings.

They both are a subsidaries of the PAP government, if you hold th paper against the light, you will see a PAP logo as a watermark.

 

[Papsmearer]

That's why I say, every ah pek & ah soh knows that, you do business expect some losses.

But whose money are they using to invest?, even though the government is a stakeholder in Temasek & GIC; the money is given from Min Of Finance. Where did MOF gets their funds, grow ' money trees'!

What we are talking about is transparency & accountability, do we still need the old man to tell us, "it is not in our interest to know"?

This is the exact reason why GIC and Temasek differ from many other sovereign wealth funds. If you look at Kuwait (KIO), th Saudis, The Norwegian soveriegn funds, etc. these are all derived from their oil wealth. Not that they are losing billions of $, but if they were to do so, they are guaranteed of replacing the losses by future years of oil revenues. As oil becomes more and more scarce, they will earn a lot before their supply runs out. The same cannot be said of the S'pore wealth funds. The funds are derived form the savings and earnings and blood, sweat and tears of singaporeans which is dependent on the world's economic cycles. If there are several bad years, the national savings/reserves does not increase. In other words, these money that GIC and Temasek are losing cannot be replaced by pumping more oil or any other commodity.

 

[myo539]

That's why this cheebye mouth Hwee Hua pisses me off. People accept the fact that some times u lose money. But its happening deal after deal. Its not the occasional losses. Its like 3 or 4 in a a row, and its big losses, in the billions $ per deal. These are absolutely avoidable. The Norwegian Sovereign wealth fund spread its money among 7000 of the world's best companies. That way, their exposure is limited even if 3 or 4 companies don't do well out of 7000. This is call avoiding risk. But Temasek and GIC sink all their eggs into a few baskets. This Hwee hua siao charboh supposed to be some high flyer economist shit. I think she knows jack all about investing.

Why open your books and let people look into your wealth? Why don't you publish how much money you have in your bank accounts for all to see? You know them well that it's not good to splash your wealth when you have neighbours who have little. It's another thing to let them guess how much wealth you have. Remember Malaysian Mahathir wanted to borrow a few billions from us during the Asian Currency Crisis? Even Teng Hsiao-ping hinted that of getting 10% of our wealth when he embarked on his economic programme to develop the coastal regions.

As you've said, there is no guarantee that every dollar you bet will get you another 10 dollars return . But if you do, then better keep quiet - that appears to be the strategy of GIC or Temasek.

Let the wisemen and women do their work - afterall they are paid to do their work. You are not paid to KPKB here.

Why don't you stand for election? Somebody said here that any Dom, Dick or Hairy who stands against PAP members will win in the next election. I am sure you can bet 100% of it and do better than GIC calculated risk.

It's good that you become the citizen's watchdog for GIC or Temasek. May be you can bring us more good years as before.

 

[besotted]

GIC and Temasek investments in China make so much money

But lost in UBS and Merrill Lynch and all these useless Western banks

 

[Papsmearer]

Why open your books and let people look into your wealth? Why don't you publish how much money you have in your bank accounts for all to see? You know them well that it's not good to splash your wealth when you have neighbours who have little. It's another thing to let them guess how much wealth you have. Remember Malaysian Mahathir wanted to borrow a few billions from us during the Asian Currency Crisis? Even Teng Hsiao-ping hinted that of getting 10% of our wealth when he embarked on his economic programme to develop the coastal regions.

No, u stupid PAP cocksucker. When the money is yours, u have every right to see how much you have. We don't give a shit about what our neighbours think we have or don't have. By your PAP cocksucker logic, than everything should be secret, and you don't know whether the PAP is stealing you blind or not. What the Malaysians and the Chinese borrow or don't borrow is nothing to do with our national reserves. If you deposit money with DBS every month, and you tell them to invest it for you, is it ok if they tell you to fuck off when u want to know how much you have? U are dumber than dogshit if you say YES.

As you've said, there is no guarantee that every dollar you bet will get you another 10 dollars return . But if you do, then better keep quiet - that appears to be the strategy of GIC or Temasek.

Let the wisemen and women do their work - afterall they are paid to do their work. You are not paid to KPKB here.

Are u retarded or what? Everything that Temasek and GIC buy, are publicly listed companies. When they buy a controlling or even a large minority share, they have to file with the respective countries security regulators. It cannot be kept quiet. We know where they invest. that is not the question. That is how we know they suffer big losses. the question is why chee bye Hwee Hua say its not realistic to have losses, when the track record is indicating much more losses than gains. Wiseman and wise women do not invest and loss billions in companies on a consistent basis. Stop eating dogshit, its affecting your brains.

Why don't you stand for election? Somebody said here that any Dom, Dick or Hairy who stands against PAP members will win in the next election. I am sure you can bet 100% of it and do better than GIC calculated risk.

It's good that you become the citizen's watchdog for GIC or Temasek. May be you can bring us more good years as before.

At this point, anyone can do better than GIC or Temasek. U don't need a watch dog. All they have to do is to put their money into bonds, and oher income producing conservative instruments and they will be fine. This is simple and what even the greenest financial advisor will tell his client in turbulent times. Apparently, Hwee Hua and PAP cocksucker myo is not aware of this.

 

[Papsmearer]

GIC and Temasek investments in China make so much money

But lost in UBS and Merrill Lynch and all these useless Western banks

Money made in China is but a fraction of what is loss in other investments.

 

[halsey02]

This is the exact reason why GIC and Temasek differ from many other sovereign wealth funds. If you look at Kuwait (KIO), th Saudis, The Norwegian soveriegn funds, etc. these are all derived from their oil wealth. Not that they are losing billions of $, but if they were to do so, they are guaranteed of replacing the losses by future years of oil revenues. As oil becomes more and more scarce, they will earn a lot before their supply runs out. The same cannot be said of the S'pore wealth funds. The funds are derived form the savings and earnings and blood, sweat and tears of singaporeans which is dependent on the world's economic cycles. If there are several bad years, the national savings/reserves does not increase. In other words, these money that GIC and Temasek are losing cannot be replaced by pumping more oil or any other commodity.

BLOOD SWEAT & TEARS, and SINkinporeans are taking it easy with a few morsels of food from the GST credits..etc payment, fail to realise that, the 'rattus pappies' are raiding their rice bins (CPF), and is depleting the contents...when will they ever learn?, when, when , when?

 

[tanwahtiu]

We assumed this kind of news would come from the President office. Win or loss, President not involved? No wonder anoyone can fit the job, no good in Finance background also can, like the Ah Neih?

Uncorrupt? There is no such thing since Eve ate the fruit of knowledge of Good and Bad.

 

[batman1]

We sinkees may have forgotten that the GIC or Temasek funds are for the papdogs to play monopoly games.Even if they win ,nothing to do with u ,u also got no share in the profits (u wait long long) and even if they lose,u got nothing to do with it,they also don't tell u what,maybe just tax u more ! easy ! LOL!

 

[johnny333]

We sinkees may have forgotten that the GIC or Temasek funds are for the papdogs to play monopoly games.Even if they win ,nothing to do with u ,u also got no share in the profits (u wait long long) and even if they lose,u got nothing to do with it,they also don't tell u what,maybe just tax u more ! easy ! LOL!

Those GIC, Temaske,... are actually only benfitting the famiLee & cronies.

It's costing lesser mortals plenty to support these millionaires. Think of all the $$$ going into jobs for PAP supporters.

 

[myfoot123]

Yet this group of cronies are expectating unrealistic pay. No wonder Singaporeans are so poor because we live to feed this useless & complacent Men in White scum. I could hear people screaming for election to arrive.

 

[Papsmearer]

BLOOD SWEAT & TEARS, and SINkinporeans are taking it easy with a few morsels of food from the GST credits..etc payment, fail to realise that, the 'rattus pappies' are raiding their rice bins (CPF), and is depleting the contents...when will they ever learn?, when, when , when?

Its the oppo's job to do this. Since they don't do it, than its up to websites like this. u just hope that a few people read this, and they realise its true, than they pass it on to a few more people, etc. And the news spreads this way.

 

[Papsmearer]

We assumed this kind of news would come from the President office. Win or loss, President not involved? No wonder anoyone can fit the job, no good in Finance background also can, like the Ah Neih?

Uncorrupt? There is no such thing since Eve ate the fruit of knowledge of Good and Bad.

the office of the president has been subverted by the PAP. Once upon a time, u had people of good moral background in that office. Poeple like ben Sheares, Yushoff Ishak, Ong teng cheong had a conscience. Now they have sinkie Jap traitors beholden to Con You.

 

[Papsmearer]

Those GIC, Temaske,... are actually only benfitting the famiLee & cronies.

It's costing lesser mortals plenty to support these millionaires. Think of all the $$$ going into jobs for PAP supporters.

I think generally speaking, sinkies will not begrudge the PAP and people like Ho Jinx a good pay, even a multi million dollar salary if they can see that they were very successful in their investments. If they earn billions and billions of dollars, and distributed it back into the population, people will say go ahead, u earned it. But at the same time, if you lose billions and billions, and u still draw this kind of high salary with no negative effect on your income, u should be incurring the ire of the electorate.