The Straits Times has swung into full damage control mode to limit the fallout from Temasek’s disastrous sale of its stake in Barclays Bank which may cause it to lose up to 500 million pounds or more.
This is in stark contrast to the Abu Dhabi-based International Petroleum Investment Co made a windfall profit of US$2.5 billion (S$3.6 billion) on its Barclays investment after seven months.
As usual, none of the Temasek executives, including its CEO and wife of Prime Minister Lee, Madam Ho Ching, are called upon to account for Temasek’s decisions.
Instead, it is left to the spin doctors at SPH to extricate Temasek from its current quandrary, not that it will ever be made to pay for its mistakes.
According to external analysts the Straits Times spoke to, ”uncertainty” may have been one of the reasons behind Temasek Holdings’ decision to sell off its stake in British bank Barclays in December and January despite the huge loss it would make.
Read rest of article here:
http://wayangparty.com/?p=10099
This is in stark contrast to the Abu Dhabi-based International Petroleum Investment Co made a windfall profit of US$2.5 billion (S$3.6 billion) on its Barclays investment after seven months.
As usual, none of the Temasek executives, including its CEO and wife of Prime Minister Lee, Madam Ho Ching, are called upon to account for Temasek’s decisions.
Instead, it is left to the spin doctors at SPH to extricate Temasek from its current quandrary, not that it will ever be made to pay for its mistakes.
According to external analysts the Straits Times spoke to, ”uncertainty” may have been one of the reasons behind Temasek Holdings’ decision to sell off its stake in British bank Barclays in December and January despite the huge loss it would make.
Read rest of article here:
http://wayangparty.com/?p=10099
