Citigroup/Citibank in trouble?.

[lifeafter41]

Looking at how the shares of Citigroup has been tumbling for the last 1 or 2 weeks, except for the few slight upside, the slide seems to be continuing. Yesterday drop of almost 20% spells trouble?.

 

[eeoror88]

All the global banking giants tumbling.

Our local 3 banks still can tahan. Not bad leh. Keep up the good work !!

 

[Uncle2]

Yesterday fall 24%.... from high last year of almost US$200 to only $5 now.... my fren still called me last month and said $20 very cheap must accumulate... SIAO!!

 

[theblackhole]

already smelt a rat long ago...don't run road is your business.

 

[Uncle2]

You think our Small 3 banks are infallible? Think again lor.... they are but small fry in the pond....

 

[eeoror88]

At least they not in trouble mah.

 

[lolabunny]

At least they not in trouble mah.

with the property market like this, won't they be affected?

 

[lifeafter41]

Yesterday fall 24%.... from high last year of almost US$200 to only $5 now.... my fren still called me last month and said $20 very cheap must accumulate... SIAO!!

At the rate the share prices is dropping, with 300,000 employees. Probably before end of the year or even early 09, there will be another big round of pink slips, courtesy of the Ah Neh's CEO.

 

[eeoror88]

Every instituition affeceted but it is the degree that they differ. All our banks are still paying dividends to shareholders right ??

 

[sherrry]

Everything has a domino effect. The front end of the domino has just started to tumble, the chain reaction will eventually reach us, in a matter of time.
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[Uncle2]

Received an report from an analyst saying that the price of DBS could drop to $5. Many ppl would have laughed at him a few months ago when DBS was traded at $25. But now.... just another $4 more to go only....

 

[johnny333]

At least they not in trouble mah.

How can you be sure local banks are not affected?

 

[eeoror88]

Then wht do they still pay handsome dividends??

 

[lifeafter41]

Then wht do they still pay handsome dividends??

The dividends are paid based on previous quarters good showing, before the crisis.

The next few quarters will be trying times for the Singapore banks.

 

[The RealTuaKee]

Can someone ask our Ho Jinx how much she has lost on the Citi stake which they invested US$6.88b in December 2007?

I think they must be looking damn stupid now if they had converted the perpetual convertible bonds at 20% above market price then. Should be around US$33-35 range.

Assuming they converted at US$34, they should have 202.4m shares. U guys go work it out.

Let's see are they going to use the same reasoning; citibank stake is only a SMALL portion of the overall portfolio of billions billions. U guys are all using hindsight to criticise. U guys should be thankful that GIC is making so much money n creating budget surpluses that will improve your peasant scum lifestyle.

I think the most honorable way for those at GIC is to commit seppuku. Fucking morons.

 

[eeoror88]

So what is the actual damage at yesterday's price ??

 

[madmansg]

Once vikam pandiet take over as CEO then the collapse is only a matter of time.

 

[lifeafter41]

Once vikam pandiet take over as CEO then the collapse is only a matter of time.

That's what I thought too.

 

[Merl Haggard]

Looking at how the shares of Citigroup has been tumbling for the last 1 or 2 weeks, except for the few slight upside, the slide seems to be continuing. Yesterday drop of almost 20% spells trouble?.

Two weeks ago I put a target of 3.50 for Citi and it's coming real soon.

Expect Merrill to drop to 4.50 and below.

 

[Uncle2]

Two weeks ago I put a target of 3.50 for Citi and it's coming real soon.

Expect Merrill to drop to 4.50 and below.

My personal target for Citigroup? Less than US$1.00.