Did GIC just lost another S$50million earlier this month?

[Confuseous]

When the company ceased trading on AIM on Friday 10 October 2014, its share price was valued at 4.17p. In 2011 the shares traded at more than 400p.

In 2010 GIC (formerly Government of Singapore Investment Corporation) was a substantial shareholder in London Mining with 8,485,184 shares or 7.46% of the doomed stock. By 2014, GIC grew this to 9.26% before cutting back slightly to 9.23% in August 2014, and started to trim to 4.21 in October ("GIC Pvt Ltd cuts stake in London Mining to 4.21 pct"). When GIC finally exited London Mining on 10 October, there was a big hole in the balance sheet of about S$50 million by one conservative estimate. The monkey business is yet to be reported in our mainstream media, which chose to splash stories of the Colonel Sanders look-a-like clinking champagne glasses with the Queen of England.

It's a classic repeat of the Bank of America investment strategy, buy high sell low. Temasek Holdings lost US$1 billion in that one deal in 2Q 2009 (188.8 million BOA shares valued at US$13.7 each sold at an average....

http://singaporedesk.blogspot.sg/2014/10/negative-returns.html

 

[AhMeng]

more cpf down the drain....minimum sum going to increase again

 

[Narong Wongwan]

50 million is loose change.
If billions lost also can't raise alarm bells.....what's a puny 50 million?

 

[laksaboy]

Strategic investments.

 

[frenchbriefs]

the problem is not how much money they lose,the problem is the hilarity and retardedness of their investment strategies.....

these jokers were still building their position from 2011 up until august 2014.....they must be thinking oh look our investment is hemorrhaging money out the asshole,looks like a good opportunity to double down the stakes and increase our position!!!!oh whoops....

 

[frenchbriefs]

ahahahahha.......what can cause a stock to go from 135 dollars down to 4 dollars in one year can somebody tell me?

a mlm company?or enron type billion dollar ponzi scheme?u cant pick better stocks than that....ho ching must be a gifted money manager.

the best thing was they waited until the stock dropped to less than 10 dollar before they decided to get rid of it.....lol from 400 dollar to 10 dollar???why????why even bother saving that 10 dollar?????might as well keep the stock as toilet paper.

 

[chongpangchixwings]

Ho Hum whats a few million between friends. Write it off its as simple as that.

 

[winnipegjets]

ahahahahha.......what can cause a stock to go from 135 dollars down to 4 dollars in one year can somebody tell me?

a mlm company?or enron type billion dollar ponzi scheme?u cant pick better stocks than that....ho ching must be a gifted money manager.

The Ho Jinx touch.

 

[chongpangchixwings]

The Ho Jinx touch.

Queen Sadim.

 

[frenchbriefs]

anyone interested in investing in london mining?its only 4 dollars now....

 

[frenchbriefs]

Don't get me wrong I have lost quite a lot of money here and I am over that now, and have to move on. However, on the London Mining website I noted they won and received a Platts Global Energy award in May 2014 for Industry Leadership in metals and Mining. I has to e-mail the company in Denver to question their Integrity.!! Awarded in May 14 and Bust October 14!! Here is what the judges were looking for to award it:

Quote
Industry Leadership Award

This category is open to any company that has taken decisive action resulting in a substantial transformation or change of direction in a particular sector of the metals industry. Leadership, market expansion, corporate integrity and financial success are the core characteristics these categories celebrate. However, this award is not based purely on business performance. Instead, it recognizes companies that have shown they are first movers, venturing away from status-quo and willing to take risks with the courage and conviction to make fundamental changes in the way they operate. Innovation and a commitment to progressive thinking define these leaders.

The judges will be looking for companies that excel in their industry sector by consistently delivering strong returns to shareholders or owners, while improving environmental efficiencies, implementing technological advances and displaying a commitment to sustainable, forward- thinking solutions. Judges will also take into account the challenges of the political and business environments in which entrants are operating.
Unquote

Really!!!

 

[Poomer]

It's all part of the plan, Singapore buys expensive companies at a premium and sell them at a loss. This is to help prop up the western economies, or how else do you think they will let Colonel Sanders, a native from their former crown colony, drink tea with the Queen?

 

[shittypore]

Now we noe why they cannot let tos two Kids go about asking, return our Cpf.

 

[mojito]

My remisier tell me, buy high, sell higher! That is how the big boys do it. You just have to follow what they do.

 

[SgGoneWrong]

Is it possible GIC fund supported share price while FamiLEE fund shorted shares?

 

[shittypore]

Miss Ho Ho buy high sell low, how cum?

 

[blissquek]

Miss Ho Ho buy high sell low, how cum?

Queer...she is about to retire and for 5 years they could not a replacement..

Is it very difficult to find someone who buy high sell low out there to replace her.....????

 

[batman1]

Most Sinkees don't care.Even if sinkeeland is sold off,they also don't care.They care only whether they have money in pocket.

 

[borom]

This is the kind of issues the opposition should raise in parliament .
If there is any reason to vote for the colourless Kenneth-it must be for at least one opposition MP to specialise and raise such issues on our reserves, govt finance and investments, including those of CPF, GIC and Temasek.

 

[makapaaa]

60%: Lose your see lung tau lah! Can't you see that I still have coolie rice to eat?

40%: Are you OK to eat coolie over the last 50 years and for the next? Provided your coolie rice bowl is still intact?

60%: Ahbathen? Donch you dare ask me to vote for the sia suay Oppos hor! *hee*hee*

40%: *shake head*