When you are the PM's Wife - IPO $16 to $2.66 and years of losses

[dr.wailing]

It doesn't matter if Teamasick is making money or losing it. The PM's talented wife gets paid her remuneration and fat bonuses all the same. In the current financial year, she's getting about 45 to 47 million USD in annual total compensation.

 

[kukubird59]

Who said scroobal's postings weren't damaging to PAP? When he took a year long sabbatical during GE 2015, there was a massive vote swing towards PAP. scroobal is the TPX who will break or make PAP. Don't play play.

hahaha....me bad.....forgot that he took sabbatical during GE2015....
now that he is back...Murali no chance in BB BE right????

 

[kryonlight]

hahaha....me bad.....forgot that he took sabbatical during GE2015....
now that he is back...Murali no chance in BB BE right????

You can rest assured that CSJ will win the BB by-election.

 

[zeebjii]

When I heard about Western Digital shutting down, it brought back memories of our talented PM's wife. As Dhanabalan said - she had the courage to cut losses early when her first foray, Micropolis went under shortly after it was acquired with losses in the millions.


https://groups.google.com/forum/#!topic/soc.culture.singapore/MDvsB_SHRdkTemasek to suffer heavy loss from sale of Chartered Semiconductor to Abu
Dhabi's ATIC
September 7, 2009 by admin
Filed under Top News
Leave a comment

From our Correspondent

Singapore's semiconductor industry had floundered in recent years with
mounting losses caused by reduced demand and intense competition from
Taiwanese and U.S. chipmakers, a situation exacerbated by the global
financial crisis.

Once the crown jewel of Singapore inc, Chartered Semiconductor has struggled
to make a profit in the last two years.

Chartered Semiconductor was created in 1987 as a venture that included
Singapore Technologies Engineering Ltd., another state-linked company owned
by Temasek Holdings.

When its shares were first floated in the market in 1999, they were sold in
the pricing range of between $16 and $18 a share. 10 years later, it is
worth only $2.66 per share. (Source: IPO Investor)

Advanced Technology Investment Co., an investment company owned by Abu
Dhabi, will pay S$2.68 ($1.86) a share in cash for Chartered Semiconductor.
It will spend a total of S$2.5 billion to buy Temasek's stake of 62 per cent
or 930 million shares in the company.

Slight factual error. Chartered actually went far lower than 2.66. I know because i bought it at $1 plus and saw it went down to cents, and the shares were merged 5 to 1 or 10 to 1 to make it look respectable, before the company was sold. Before that i bought at $16 and sold at $8. My very first stock purchase is a 50% loss, but i did better than friends who held on until the very end.

 

[mojito]

Slight factual error. Chartered actually went far lower than 2.66. I know because i bought it at $1 plus and saw it went down to cents, and the shares were merged 5 to 1 or 10 to 1 to make it look respectable, before the company was sold. Before that i bought at $16 and sold at $8. My very first stock purchase is a 50% loss, but i did better than friends who held on until the very end.

Letting go is always difficult when one lacks moral fibre in his diet.

 

[ginfreely]

Letting go is always difficult when one lacks moral fibre in his diet.

What about a person who was caught lying and boasting that he always walks away but actually didn't? Not just lacks but zero moral fibre in his diet.

 

[frenchbriefs]

Slight factual error. Chartered actually went far lower than 2.66. I know because i bought it at $1 plus and saw it went down to cents, and the shares were merged 5 to 1 or 10 to 1 to make it look respectable, before the company was sold. Before that i bought at $16 and sold at $8. My very first stock purchase is a 50% loss, but i did better than friends who held on until the very end.

why the hell did u buy it again after u suffered a 50 percent loss?clearly this stock must have some magical properties,do people look at a company's balance sheet and cashflow and goes "well this company is shitting itself from explosive diarrhea and internal hemorrhaging,lets buy it anyway."

 

[scroobal]

Yes. He was her trusted aide and he was also the CEO of Chartered Semiconductor when it was sold to Global Foundries. He went over as the COO to help in the integration. They previously had Ang Mos as CEOs. It was an odd situation as Global foundries was a much smaller player and only had AMD as its major client. Chartered had more well known clients and much bigger in size but was struggling. The Taiwanese was the best at this. Chartered was supposed to be the icing on the cake for our local manufacturing and a trophy in her cabinet and that is why she was prepared to ruffle the feathers of Seagate which led to much unhappiness. People like Ngiam and gang were watching how this plays out. To her its was going be her version of creating Singapore Airlines which made a major impact in the World when it was led by part-time chairman and full time PS Pillay.

When Chartered failed she then went into full time fund management of a sovereign fund which does not need to provide transparency and she is only accountable to her husband who for sometime was also the Finance Minister.

One Malay Engineer from the days of Chartered setup a small factory in Johor and supplies on a contract basis to PC manufacturers. He did well and he paid for his son's expensive medical education overseas. The son is now a practising doctor in Australia.

Is this the same Chia Song Hwee who is now one of the 3 Presidents in Tumasick Holdings?

 

[scroobal]

Yes, as TFBH mentions, it was slightly above 60 cents in its darkest days.

They did not have an inquiry about Micropolis who went under within a year and cost us millions. They did not have inquiry for Chartered. Global Foundries was an unexpected angel and it saved the face of the Lee family. It was portrayed as a great deal as they offered slight over the share price. It is also interesting that another company paid Global Foundries over a billion dollars to take over its bleeding business. I always wondered if there was more to this.

It also shows that the Lee family can only run businesses with a previously established company with a known track record or a near monopoly. Look at Singtel. Look at the what the second son did to F&N and the departure of Dr Han Cheng Fong within a month of his appointment.

Slight factual error. Chartered actually went far lower than 2.66. I know because i bought it at $1 plus and saw it went down to cents, and the shares were merged 5 to 1 or 10 to 1 to make it look respectable, before the company was sold. Before that i bought at $16 and sold at $8. My very first stock purchase is a 50% loss, but i did better than friends who held on until the very end.

 

[Reddog]

Please do not be too excited. It is only cpf money that she is playing with. A source of funding that her husband and his gang has absolute control. No need for accountability. Enjoy.

 

[bhoven]

Yes. He was her trusted aide and he was also the CEO of Chartered Semiconductor when it was sold to Global Foundries. He went over as the COO to help in the integration. They previously had Ang Mos as CEOs. It was an odd situation as Global foundries was a much smaller player and only had AMD as its major client. Chartered had more well known clients and much bigger in size but was struggling. The Taiwanese was the best at this. Chartered was supposed to be the icing on the cake for our local manufacturing and a trophy in her cabinet and that is why she was prepared to ruffle the feathers of Seagate which led to much unhappiness. People like Ngiam and gang were watching how this plays out. To her its was going be her version of creating Singapore Airlines which made a major impact in the World when it was led by part-time chairman and full time PS Pillay.

When Chartered failed she then went into full time fund management of a sovereign fund which does not need to provide transparency and she is only accountable to her husband who for sometime was also the Finance Minister.

One Malay Engineer from the days of Chartered setup a small factory in Johor and supplies on a contract basis to PC manufacturers. He did well and he paid for his son's expensive medical education overseas. The son is now a practising doctor in Australia.

Check the biodata of Tumasick's current senior management on their corporate web site...u will find many ex ST staff.....

 

[scroobal]

Yes, I am aware. It was the said to be the core issue in regard to Chip Goodyear departure. Its her power base. ST is also her testing ground. They also pulled in well regarded MSD Intelligence Chief and President Scholar into ST to lead one of the main businesses. ST will remain hers even if she is asked to make way in Temasek for political reasons. Looks who chairs ST Board.

ST is such that it can enter any business that she likes and as most of the businesses are considered sensitive due to Mindef links, issue of transparency and accountability will remain closed and secretive. She cannot do the same with other companies in Temasek such as SIA, DBS, etc without drawing attention from the public and foreign analysts.

Check the biodata of Tumasick's current senior management on their corporate web site...u will find many ex ST staff.....

 

[kukubird59]

You can rest assured that CSJ will win the BB by-election.

hahaha...scroobal is exposed as a papee mole lah....
he and his lackeys constant shits stirring and pot shots at CSJ robbed CSJ of an assured victory in the BB BE...
hopefully the naïve impressionable will wake up to the true colours of Scroobal and his lackeys...