• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

The sale of Singapore to foreigners

scroobal

Alfrescian
Loyal
FORMER CEO OF DBS LAND AND F&N: WE DID OUR BEST TO PROTECT OUR LOCAL BRANDS

Post date:
15 Apr 2014 - 7:39am

I SHARE Mr Leslie Fong's view that many Singaporeans felt a great sense of loss and anger when iconic brands and businesses like Fraser & Neave (F&N), Tiger Beer and Raffles Hotel were sold to foreigners ("Different reaction to sale of iconic brands"; April 3).

As the former chief executive of DBS Land (owner of Raffles Hotel) and F&N (owner of Tiger Beer, 100Plus and other F&N brands), I was particularly pained by the loss of these brands and businesses as I was personally involved in their growth and in protecting them from falling into foreign hands.

Few know that I and my colleagues in F&N made cold calls to large shareholders to buy their Asia Pacific Breweries (APB) shares to shore up F&N's stake in it and help keep Tiger Beer Singaporean.

Many of our colleagues were also asked to volunteer exercising their stock options in APB and selling the shares to F&N at the then market price of $12 to $13 per share.

Can you imagine the pain and sense of sacrifice felt by these people when, a few years after our departure, APB was sold to Heineken at nearly 41/2 times the price that they had sold to F&N? I felt particularly bad as I was instrumental in persuading them to sell their shares to F&N.

Also, not many know that after we built F&N's holdings in APB up to an almost unassailable position, Heineken offered to buy our APB stake at twice the then market price. We turned Heineken down because we felt APB and Tiger Beer belonged to Singapore.

A few months down the road, in FY2006, an F&N director alerted the board that after failing to win control of APB, Heineken was planning to mount a takeover of F&N in order to extract APB.

Though I was highly sceptical of this potential move by Heineken, my F&N board colleagues felt threatened enough to bring in Temasek Holdings as a white knight to help in this fight against Heineken.

Alas, shortly after Temasek's entry, I left F&N and about two years later, our white knight sold its 14.9 per cent stake in F&N for a huge gain of about $400 million.

This left F&N vulnerable to a takeover, as the Temasek stake was sold to Japanese beer-maker Kirin.

Iconic brands and businesses are the economic soul of the nation. They help to bond us to Singapore.

When we raise a can of 100Plus or Tiger Beer to our lips, especially when we are a long way from home, we feel a sense of attachment to Singapore. Each time we check into a Raffles-owned hotel or step on board a Singapore Airlines plane when overseas, we immediately feel we are home.

Like what Mr Fong said, unless we take pride in and protect our national icons and heritage, we will lose our national identity.

Not everything should be measured in dollars and cents.


Han Cheng Fong
 

scroobal

Alfrescian
Loyal
When the old man goes, and the PM retires, the Istana will be become a function hall to rich Indian and Tiong families for their wedding events. It will probably will be handed over to Temasek via Capitaland. And the new PM will tell Singaporeans the rental money will be used to top up the CPF for annuity.
 

scroobal

Alfrescian
Loyal
One year after becoming CEO of Temasek in 2004, and her husband becoming PM, Ho Ching sold Raffles Hotel to a foreign company. Interestingly Raffles Hotel was declared a National Monument in 1987.
 

lee6100

Alfrescian
Loyal
When the old man goes, and the PM retires, the Istana will be become a function hall to rich Indian and Tiong families for their wedding events. It will probably will be handed over to Temasek via Capitaland. And the new PM will tell Singaporeans the rental money will be used to top up the CPF for annuity.


In twenty, thirty years' time, when the new Indian and Chinese Singapore citizens have enough numbers, they will form their own political parties. Once in power, they will mine the reserves which the PAP has so jealously guarded.
 

Leckmichamarsch

Alfrescian
Loyal
When the old man goes, and the PM retires, the Istana will be become a function hall to rich Indian and Tiong families for their wedding events. It will probably will be handed over to Temasek via Capitaland. And the new PM will tell Singaporeans the rental money will be used to top up the CPF for annuity.

already it is function hall for the melayu who are privileged to hold parties there when other enthic cannot do so........... WHY?
 

Leckmichamarsch

Alfrescian
Loyal
In twenty, thirty years' time, when the new Indian and Chinese Singapore citizens have enough numbers, they will form their own political parties. Once in power, they will mine the reserves which the PAP has so jealously guarded.

hip hip hooray
the fools n their money will soon be parted
 

laksaboy

Alfrescian (Inf)
Asset
This is what happens when you let the son of a traitor become one of your board of directors.

Ever heard of a corporate trojan horse? :rolleyes:

Those who fail to learn from history are doomed to repeat it.


Lee%20Hsien%20Yang%20A.jpg



pYY3aT3.jpg



fn26213e.jpg



Lee Hsien Yang, 7 other directors step down from Fraser & Neave board

PUBLISHED ON FEB 26, 2013 9:07 PM

http://www.straitstimes.com/breakin...rectors-step-down-fraser-neave-board-20130226


ALL eight directors of Fraser & Neave who saw through the divestment of associate Asia Pacific Breweries and the takeover of F&N by Thai tycoon Charoen Sirivadhanabhakdi have stepped down.

Chairman Lee Hsien Yang and independent directors Timothy Chia, Maria Corrales, Ho Tian Yee, Koh Beng Seng, Seek Ngee Huat, Tan Chong Meng and Nicky Tan resigned from the F&N board with effect from today.

They had earlier indicated they would resign en masse after the close of Mr Charoen's offer to give the billionaire a free hand as he takes over the 130-year-old company.

Mr Charoen's son Thapana Sirivadhanabhakdi and son-in-law Chotiphat Bijananda have been appointed to the board.
 

laksaboy

Alfrescian (Inf)
Asset
In twenty, thirty years' time, when the new Indian and Chinese Singapore citizens have enough numbers, they will form their own political parties. Once in power, they will mine the reserves which the PAP has so jealously guarded.

Not much of a guarding job is it? Like foxes guarding the hen house.
 

ILovePAP

Alfrescian (Inf)
Asset
There is nothing wrong in divesting these enterprises which have not been able to realise their potential.

At the end of the day, it os survival of the fitess. Why blame the PAP.
 

frenchbriefs

Alfrescian (Inf)
Asset
There is nothing wrong in divesting these enterprises which have not been able to realise their potential.

At the end of the day, it os survival of the fitess. Why blame the PAP.

u are right.why blame the PAP?its time for them to go,nothing personal against them,just survival of the fittest.LHL has severely failed to perform to the potential of a minister.
 

Equalisation

Alfrescian (Inf)
Asset
Yes.

Just look at the number of new citizenships given out. More than 20,000 a year and not counting the new PRs and other migrant workers !:mad:

It is indeed nauseating !:mad:
 

scroobal

Alfrescian
Loyal
Until you mentioned it, it did not occur and you are indeed right. And they will go about in a quiet until they have the numbers.

In twenty, thirty years' time, when the new Indian and Chinese Singapore citizens have enough numbers, they will form their own political parties. Once in power, they will mine the reserves which the PAP has so jealously guarded.
 

Thick Face Black Heart

Alfrescian (InfP)
Generous Asset
Yes.

Just look at the number of new citizenships given out. More than 20,000 a year and not counting the new PRs and other migrant workers !:mad:

It is indeed nauseating !:mad:



Our country is being sold out to foreigners. They will take over our economy first. Then they will take over our political system, and finally our freedom and our rights.
 
Top