PM Lee defends Temasek's performance

[Avantas]

Singapore’s Prime Minister Lee Hsien Loong defended the performance of the city’s state-owned investment companies after a plunge in the value of their stakes in Citigroup Inc., Merrill Lynch & Co. and other global banks.

Government of Singapore Investment Corp. and Temasek Holdings Pte, the nation’s two key investment companies that each manage more than $100 billion of assets, should be assessed on their overall portfolio returns instead of the performance of specific assets, he said.

“The situation looks a lot gloomier now than when they went in but these are long-term investments. It looks under water now, but the situation can change,” Lee told the Foreign Correspondents Association at a lunch today. “But if you are taking a long-term view, you have to be in on the downs as well as the ups.”

Read full article here:

http://singaporeenquirer.sg/?p=348

 

[theblackhole]

very sensible speech.you gamble.you win some and lose some.but sit long enough on the table...you can still have a chance to win...but in the long term, all gone for sure!!!all gone under water and all drown...hallelujuah!!!!good luck to all!!!!

this is a stark warning...read between the lines...and prepare yourself. the future is gloomier and gloomier as more gloomy speeches are made to cover the massive losses...prepare for a famine...hallelujuah!!!!

 

[R4g3]

Doing 10 right things does not justified the 1 dumb thing that is done, especially when everyone knows that it is dumb, even people who are not in the field.

Worst of all, they can still insist they are right, trying to tell us they are smart, the whole world is dumb. And it is a "long term" investment. Now "long term" becomes "wrong term" as what most of us has expected.

 

[0939]

It is as good as defending his wife.

 

[ahleebabasingaporethief]

Can never get straight answers from them.

Sometimes manage over $100b. Somtimes over $300b.

Once and for all kick them out so we know for sure.

 

[melzp]

It is as good as defending his wife.

If he doesn't, who will do it besides their other members.

 

[theblackhole]

we never know.maybe 500 billions and growing.maybe kosong liao...maybe maybe and maybe....it'll take years to know...by then we all die liao...why worry be happy and spend your money lor!!!

 

[Leegimeremover]

Can never get straight answers from them.

Sometimes manage over $100b. Somtimes over $300b.

Once and for all kick them out so we know for sure.

Leegime must not lose elections. Because they are so dirty, if exposed, it is the end. That is why many in the know had to leave Singapore for their safety. Fortunately, Leegime will be stripped naked with the Great Depression that LHL cannot spell. Tok cock. The US Bureau of Labor Statistics has produced the worst employment in its 124-year history, peesai leader who buys things from USA say only one year recession. You know this is retribution of incest and nepotism. Nothing will change what is coming. If they use more bogeymen and intimidation, I guarantee you Leegime will be dead, bloodied and lying in the drains. Already, the PRC labor is beginning to create trouble. PRC may get their planted special forces in the foreign labor force to give Leegime hell and topple Lee. Lee is expendable to PRC.

 

[eQuipment]

where's the audit team? y nobody audit them? who can be sure that they're doing the right things with the $? who is accountable for the public funds?