Temasek Holdings bidding against GIC over S$8.4 billion Korean supermarket chain Tesc

[makapaaa]

http://statestimesreview.com/2015/0...-s8-4-billion-korean-supermarket-chain-tesco/

[h=1]Temasek Holdings bidding against GIC over S$8.4 billion Korean supermarket chain Tesco[/h]admin / 6 hours ago August 29, 2015





According to two confidential informers from UK-based news agency Reuters, Singapore’s only two sovereign wealth fund (SWF) companies are bidding against each other over UK supermarket chain, Tesco, in South Korea.
In what seems like a waste of state resources, both Singaporean SWFs partner with a separate foreign investment arm each to enter compete in the S$8.4 billion deal. Temasek Holdings will be partnering with Korean private investor firm, MBK Partners, while GIC has been confirmed to partner with US investment firm, Carlyle. A Temasek Holdings spokesperson did not deny the deal and has declined to comment over the matter.

Photo of Temasek Holdings by thestraitstimes

The two Singaporean SWFs invest Singaporeans’ retirement money, the CPF, and the national reserves by buying cheap special government bonds as low as 2.5%. Temasek Holdings boast an investment return of 16% since inception in 1974, while GIC’s rolling annualised 20-year rate of return is 4.9% in 2014.

GIC has more than S$300 billion of fund under its management, while Temasek Holdings just have S$266 billion. The CPF withdrawal age will be raised to 67 in 2018 while the Minimum Sum has increased to S$161,000 in April this year. According to the ruling party government, Singaporeans can expect to withdraw their CPF money later as they are expected to live longer.

Manpower Minister Lim Swee Say said that to increase the CPF monthly payout, Singaporeans can work beyond 67 and delay their Withdrawal Age up to 70 years old.

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You may read the original Reuters article here.
Related stories:
Lim Swee Say: Work beyond 67, delay your CPF withdrawal and you get higher payout

 

[laksaboy]

Re: Temasek Holdings bidding against GIC over S$8.4 billion Korean supermarket chain

Healthy competition, just like WWE Raw vs Smackdown.

 

[syed putra]

Re: Temasek Holdings bidding against GIC over S$8.4 billion Korean supermarket chain

Its contagious. Several months ago up north, similar thing happened when bidding for New Britain palm oil plantation (NBPOL)in papua new guinea. I think its a symptom of too many companies/entities under gahmn control.

 

[escher]

Re: Temasek Holdings bidding against GIC over S$8.4 billion Korean supermarket chain

http://statestimesreview.com/2015/0...-s8-4-billion-korean-supermarket-chain-tesco/

[h=1]Temasek Holdings bidding against GIC over S$8.4 billion Korean supermarket chain Tesco[/h]admin / 6 hours ago August 29, 2015





According to two confidential informers from UK-based news agency Reuters, Singapore’s only two sovereign wealth fund (SWF) companies are bidding against each other over UK supermarket chain, Tesco, in South Korea.
In what seems like a waste of state resources, both Singaporean SWFs partner with a separate foreign investment arm each to enter compete in the S$8.4 billion deal. Temasek Holdings will be partnering with Korean private investor firm, MBK Partners, while GIC has been confirmed to partner with US investment firm, Carlyle. A Temasek Holdings spokesperson did not deny the deal and has declined to comment over the matter.

Photo of Temasek Holdings by thestraitstimes

The two Singaporean SWFs invest Singaporeans’ retirement money, the CPF, and the national reserves by buying cheap special government bonds as low as 2.5%. Temasek Holdings boast an investment return of 16% since inception in 1974, while GIC’s rolling annualised 20-year rate of return is 4.9% in 2014.

GIC has more than S$300 billion of fund under its management, while Temasek Holdings just have S$266 billion. The CPF withdrawal age will be raised to 67 in 2018 while the Minimum Sum has increased to S$161,000 in April this year. According to the ruling party government, Singaporeans can expect to withdraw their CPF money later as they are expected to live longer.

Manpower Minister Lim Swee Say said that to increase the CPF monthly payout, Singaporeans can work beyond 67 and delay their Withdrawal Age up to 70 years old.

​

You may read the original Reuters article here.
Related stories:
Lim Swee Say: Work beyond 67, delay your CPF withdrawal and you get higher payout

This fight is not just your voting for opposition, any opposition against the PAP
Singaporeans must do much more than just relying on their single vote.
Give them the money to support them in the fight.
Give them your time and energy to support them in the fight
They fight for you Singaporeans
They fight our common enemy
They fight the PAP and cronies, corrupt and rotten to the core, who stole over 180 billions from Singaporeans, and intent on stealing even more from us.

Support Opposition, any Opposition, all Opposition
Regardless if they have primary school, or O levels or A levels or PhD
Regardless if they wear singlets, or tuxedos
Support Opposition, any Opposition, all Opposition
Regardless if they wear slippers, or wear sneakers or shoes
Support Opposition, any Opposition, all Opposition
Even if a rat crawl out of a sewer and stand as Opposition
Even if a cockroach with 6 legs and 2 long feelers at the head become Opposition
They will be much better for Singaporeans than the fucking corrupt perverted PAPs who only think of laughing all the way to their banks and back from the banks

UNDER THE FUCKING PAP, SINKIES ARE 4TH CLASS CITIZENS IN THEIR OWN LAND STOLEN FROM THEM BY PAP
PAPs ARE THE 2ND CLASS CITIZENS WITH THE LEE FAMILY AS THE FIRST CLASS ARISTOCRAZIES

FTs ARE TAKEN IN AS THE 3RD CLASS CITIZENS KICKING SINKIES INTO 4TH CLASS AND SINKIES GOOD ONLY TO GO
HEAD DOWN DOWN AND ARSEHOLES UP HIGH HIGH TO BE FUCKED AND TIEWED BY PAPs LAUGHING ALL THE WAY TO THEIR BANKS.

YOU MUST CANVAS FOR THE OPPOSITION, ANY OPPOSITION , BY TALKING TO YOUR FRIENDS AND THOSE IN YOUR NEIGHBOURHOOD
UNITE ALL OF THEM TO VOTE OUT THE PAP AGAINST THEIR FUCKING FTs THAT THEY ARE TRYING TO PACK IN TO STEAL YOUR FUTURE AND YOUR CHILDREN FUTURE

TALK TO ALL YOUR FRIENDS , AND TO PEOPLE THAT YOU DO NOT KNOW
TELL THEM ALL TO TALK TO THEIR FRIENDS AND EVEN TO PEOPLE THAT THEY DO NOT KNOW

LET US REGAIN BACK OUR SINGAPORE FROM THE STINKAPORE THE PAPs ARE CREATING AT THE EXPENSE OF ALL OF US

STOP THE FUCKING PAPs FROM LAUGHING ALL THE WAY TO THEIR FUCKING BANKS AND BACK FROM THEIR FUCKING BANKS

 

[mojito]

Re: Temasek Holdings bidding against GIC over S$8.4 billion Korean supermarket chain

Please tell me it is not obvious someone is frontrunning these bids and profiting from the bidding war.