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Going at this rates, our reserves will eventually be depleted..
Worse, we owe the world monies....still keep PAP in govt?
Another GIC investment, Brixton Plc (a British REIT company) is going under. Brixton have problems raising fund to keep its business afloat after failing to get GIC to underwrite its recapitalisation. GIC, which already suffers S$50 billion losses in 2008, had already committed to underwriting British Land's cash call of £740m (approx S$1.6 billion). Will GIC dig out more money from Spore reserve to bail out Brixton? Lets watch carefully how this will unfold.
http://www.ft.com/cms/s/0/aff52858-fd5c-11dd-a103-000077b07658.html?nclick_check=1
GIC's Brixton Fundraising Effort Hit A Snag
Financial Times, 18 Feb 2009, Bryce Elder and Neil Hume
Real estate stocks led the London market sharply lower yesterday on fears that the sector's fundraising window may be closing.
Brixton and Land Securities dropped on talk that they may struggle to attract underwriters.
Brixton tumbled 28.4 per cent to 48p. Fundraising doubts were exacerbated by a report that its biggest shareholder, Singapore's GIC, had lost $50bn last year.
The GIC sovereign wealth fund has been rumoured to be sub-underwriting British Land's £740m cash call. Traders questioned whether it would be willing to back two recapitalisations.
Worse, we owe the world monies....still keep PAP in govt?
Another GIC investment, Brixton Plc (a British REIT company) is going under. Brixton have problems raising fund to keep its business afloat after failing to get GIC to underwrite its recapitalisation. GIC, which already suffers S$50 billion losses in 2008, had already committed to underwriting British Land's cash call of £740m (approx S$1.6 billion). Will GIC dig out more money from Spore reserve to bail out Brixton? Lets watch carefully how this will unfold.
http://www.ft.com/cms/s/0/aff52858-fd5c-11dd-a103-000077b07658.html?nclick_check=1
GIC's Brixton Fundraising Effort Hit A Snag
Financial Times, 18 Feb 2009, Bryce Elder and Neil Hume
Real estate stocks led the London market sharply lower yesterday on fears that the sector's fundraising window may be closing.
Brixton and Land Securities dropped on talk that they may struggle to attract underwriters.
Brixton tumbled 28.4 per cent to 48p. Fundraising doubts were exacerbated by a report that its biggest shareholder, Singapore's GIC, had lost $50bn last year.
The GIC sovereign wealth fund has been rumoured to be sub-underwriting British Land's £740m cash call. Traders questioned whether it would be willing to back two recapitalisations.
