GIC's COLOSSAL LOSS on UBS

[makapaaa]

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Coffeeshop Chit Chat - Buy high Sell low</TD><TD id=msgunetc noWrap align=right>

Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>UncleFond <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>9:34 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 3) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>29056.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>GIC's paper loss on UBS

It will convert $14.5b of notes to shares at price that would show loss

<!-- by line -->By Gabriel Chen
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THE Government of Singapore Investment Corp (GIC) will convert its 11 billion Swiss francs (S$14.5 billion) worth of UBS notes at a price that may show a 70 per cent paper loss in its investment in the Swiss bank.
GIC will exchange the mandatory convertible notes that it bought two years ago for 230.7 million ordinary shares in UBS on March 5, according to a regulatory filing with the United States Securities and Exchange Commission.
This would mean the conversion price would be at 47.7 Swiss francs a share.
At Wednesday's closing price of 13.67 Swiss francs for UBS shares, these shares would be worth just 3.15 billion Swiss francs, or around 7.85 billion Swiss francs less (SGD 10.2B!!! => FARK THAT LAU CHEE BYE!!!) than its original investment of 11 billion Swiss francs.
GIC declined to comment yesterday.
Under the original agreement, the minimum conversion price was 51.48 Swiss francs and the maximum 60.23 Swiss francs, but GIC had said there was a reset due to certain anti-dilution clauses.
Read the full story in Friday's edition of The Straits Times.
[FONT=Arial,Geneva,Verdana,Sans-Serif]Accountability ? Very simple, just keep mum . [/FONT]


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[halsey02]

Whose MUM....ha ha ha ha...my daughter in law is the best of her kind, on this planet earth...

it is dada...we worry!

 

[sodoMee]

yes all your reserves are used for rainy days like this....S$14.5 billion

to bail out their own secret bank accounts!!

 

[tanwahtiu]

No lah! they are getting out so that they can put into other investments which they will tell you again is for long term. Thye buy now and keep for next 30 years kind of theory (only).

 

[halsey02]

No lah! they are getting out so that they can put into other investments which they will tell you again is for long term. Thye buy now and keep for next 30 years kind of theory (only).

You are 30 years now...30 years later....you get zero? how? from your CPF account for they did a LOOOOOOOONG term Investment for you in 2010.

Maybe you will see some returns if you survive up to 2525..say bye bye..to your $$$




In the year of 2525
If man is still alive
If woman can survive
They may find
In the year of 3535
Can't tell the truth, can't tell no lie
Everything you think, do and say
Is in the pill you took today
In the year of 4545
Won't need no teeth ,won't need your eyes
Won't find a thing to do
Nobody's gonna look at you
In the year of 5555
Your arms are hanging limp at your side
Your legs have nothing to do
Some machines doin' that for you
In the year of 6565
Won't need no husband, won't need no wife
You'll pick your sons, pick your daughters too
From the bottom of a long glass tube wouwo
In the year of 7510
If god is commin' he should make it by then
Maybe he'll look around and say:
"Now it's time for the judgement day!"
In the year of 8510
God is gonna shake his mighty hand
He'll leave a salient place where man has been
Or tear it down and start again wouwo
In the year of 9595
I'm wondering if man is gonna be alive
He's taken everything earth had to give
And he's put back nothing wouwo
Now it's been 10.000 years man has cried a million tears
For what he never knew now man's dream is through
But through eternal light the twinklin' of starlight
So very far away now it's night to yesterday