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Breaking News!! HO Chin resign!
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Now this thought is frightening.
Who can take over?
Lui? Seng HT? WKS? Jayakumar? TCH?
Singaporeans had paid such a heavy price for PM LHL's learning curve in terms of their own welfare, cost of living and status as a born citizen. And paying the price for PM LHL's understanding on wealth for him and his colleagues - a road for which there is no return. For him to leave, that money is wasted.
Vibgyor, i do not know about your beliefs. But for me, i believe in praying for our leaders that they will lead us well, so that our country will prosper.
Instability holds no attraction for me as there are too many people i care for - friends, colleagues, relatives - who choose to stay in singapore.
I believe that is the case for you too. And many Singaporeans.
And that is why it is good that a person who loses so much of the nation's money should resign.
And it takes courage on the part of PM LHL and MM LKY to agree with the decision for it is inconceivable that anyone can make such a decision without their knowledge.
Though it is possible that she will be the next President as it will capture the women vote as well as favourable international opinion.
As well as a face saving measure.
...
Frankly it will be wonderful for Singapore and Singaporeans if Pillay take over the executive role from Ho Ching.
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my preference would be a faithful Christian leader who can take over. all least he will lead us to a path where God intended us to achieve to our fullest potential as a country. i would like to seek blessings from God for our country. not to incur wrath and suffering to our people. Lord Jesus Christ our God.
oh shit, we are back to square one.
Well, that's surprising. But the magnitude of the global crisis more than ever have played such a role in the speculation of her job behind the scenes. So its a shocking-type of outcome, but a welcome one too, I guess.
The principle! That counts. We cannot be seen to reward an ex-CEO who has made countless wrong decisions!
We better hope this is the case! The worst case is the new guy is just the fall guy to take the blame for the worst to come!
Wah!! Dis Mr cheap and good last drawn salary not realli dat cheap leh...
http://gasweek.wordpress.com/2007/1...-package-worth-a89m-company-profits-at-a15bn/
http://gasweek.wordpress.com/2007/1...-package-worth-a89m-company-profits-at-a15bn/
Temasek lost almost US$2 billion of a badly-timed US$3 billion in Shin
Corp at a peak of 49.25 baht(Shin shares are now trading at around 15 baht)
in 2006.
This state-linked investment company committed S$401 million in ASX -listed ABC Learning Centres at near the peak price of A$7.30 and then averaged down at between A$1.20 and A$4.00, bringing it's commitment to over S$500 million. That investment is now essentially worthless although Temasek has yet to write it down.
The company also bought 19% of LSE- listed Standard Chartered in 2006
only to see the market value of that stake melt 55% by November 21st.
More fiascos include a 975 million pound stake in Barclays Bank bought
at the peak of 740 pence(with a further 100 million to subscribe for a
rights issue at 282 pence), which have now sunk over 70% at 138 pence.
Most heinous of all is its US$6.88 billion stake in Citigroup bought
with a minimum conversion price of $31.34. Citigroup has since plunged 88% to $3.71, singlehandedly delivering S$9.11 billion of red ink to Temasek's
books.
Overall, the paper loss on these bank investments has exceeded S$35
billion as of October 21st.
Corp at a peak of 49.25 baht(Shin shares are now trading at around 15 baht)
in 2006.
This state-linked investment company committed S$401 million in ASX -listed ABC Learning Centres at near the peak price of A$7.30 and then averaged down at between A$1.20 and A$4.00, bringing it's commitment to over S$500 million. That investment is now essentially worthless although Temasek has yet to write it down.
The company also bought 19% of LSE- listed Standard Chartered in 2006
only to see the market value of that stake melt 55% by November 21st.
More fiascos include a 975 million pound stake in Barclays Bank bought
at the peak of 740 pence(with a further 100 million to subscribe for a
rights issue at 282 pence), which have now sunk over 70% at 138 pence.
Most heinous of all is its US$6.88 billion stake in Citigroup bought
with a minimum conversion price of $31.34. Citigroup has since plunged 88% to $3.71, singlehandedly delivering S$9.11 billion of red ink to Temasek's
books.
Overall, the paper loss on these bank investments has exceeded S$35
billion as of October 21st.
In the first place the entire board including DunnoBolan should be fired too. Otheriwise nothing will change. Under their watch, they let ho Jinx invest in all these banks that were obviously going to be in further trouble, hence displaying their lack of grasp of the current problems. If you don't fire the whole board, than Goodyear will be forced to work with the same bunch of incompetents.
Hello! Don't be envious of DunnoBolan or Cho-Bo-Lan cos it is tough work to be slapped as and when required by Boss or must be able to suck the toes of
the Boss as and when required ! Alot of stress OK ! Not many people can tahan ok !LOL ! LOL! LOL!
There was never a good time for Ho Ching to step down as pple will always be criticising her for the huge losses over the years but stepping down now is most probably the worst ever.
Temasek and GIC are sure to make huge losses betting on firms all over the world. The stock market has dropped 50% since last year. Only superman can fly above all these. I have no doubt Goodyear is brought in to take the rap and help shake things out. I suspected not a single self serving Singaporean is willing to be the sucker to take the seat from her.
I think Goodyear did not realise how bad things are in Singapore with regards to Ho Ching's reputation.
Temasek and GIC are sure to make huge losses betting on firms all over the world. The stock market has dropped 50% since last year. Only superman can fly above all these. I have no doubt Goodyear is brought in to take the rap and help shake things out. I suspected not a single self serving Singaporean is willing to be the sucker to take the seat from her.
I think Goodyear did not realise how bad things are in Singapore with regards to Ho Ching's reputation.
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