Latest from CNBC news that Australia 'ABC Learning' is in serious trouble. The shares have been suspended & the company is looking for voluntary adminstrators. The company is under huge debt & the mgmt is already under fraud suspicion.
Temasek invested in this company (around A$5 over), & yet the local media did not even mention anything about it. The shares are last traded at 50 over cents. Very sad. :(
local media dun report this. ONly when govt make money, even a little, will make news headline. Lose money..no face what! Just feel sad, so many 'experts' in temasek and gic and yet no one rang the bell. It's our money u know! Everyone just kept quiet. If say already, bad thing never happen, then malu. So 'ah gong' mentality prevails, which is dun bother, dun care and dun tell, dun ask because if something goes wrong, it becomes a collective decision and everyone also get blamed. In actual fact, no one really kanna (at most resign) and what is left behind is mounting losses. After all, its 'ah gong' money, not theirs.
Note: 'ah gong' mentality is prevalent in govt-linked companies; unlike private company where CEOs/bosses are very careful cos if a wrong decision is made, their own pocket get burned. So they are careful, streetwise, vigilant and cut loss quickly
