Doggie Heng Supports Ho Jinx Acting Blur. U Leh?

makapaaa · May 20, 2009

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>May 20, 2009
Temasek's BoA divestment
</TR><TR>Let's not fall into a tell-all disadvantage
</TR></TBODY></TABLE>

<DIV class=story_text>IT IS refreshing that Mr Ignatius Low, in his commentary last Saturday ('Temasek should clear the air'), and Mr Denis Distant, in his letter on Monday ('Temasek must set example on transparency'), have urged for public clarity by Temasek over its sizeable divestment of Bank of America (BoA) shares.
But their call for transparency should be reasonable - rather than a tell-all stand. The transparency should be restricted to performance reports, broad asset allocation for the prior financial year, a report on performance attribution and perhaps comments on future strategies.
Granted that Mr Low's estimate of the loss realised for the BoA investment - a consequence of Temasek's investment in Merrill Lynch which was taken over by BoA - is not a trivial amount, one has to accept that it is part of a portfolio transaction.
We cannot go around pressuring our sovereign wealth funds (SWFs) to explain every single trade.
Our SWFs should be judged on their overall investment targets within the given guidelines.
Succeeding in getting our SWFs to clear the air on single transactions may offer only a false sense of comfort that public accountability and transparency have been satiated.
The undesirable consequence is to turn investment management into a spectator sport, which may have the deleterious effect of turning our SWF managers into playing it ultra safe.
Funds around the world, be they hedge funds or otherwise, are the competition for our SWFs. The competitors do not explain every single transaction to their investors and shareholders.
Let us not force our SWFs into competing with one hand tied behind their backs against equally hefty or even larger entities.

=> Why HK Govt can cum clean and still make tons of $?

Johnny Heng

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No one is "go around pressuring our sovereign wealth funds (SWFs) to explain every single trade."

Don't hide behind "should be judged on their overall investment targets within the given guidelines."

Just that simple.
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: cross_fire at Wed May 20 14:57:05 SGT 2009
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JohnTT · May 20, 2009

Who is this Johnny Heng? If I remembered correctly, I saw his name appearing a few times under the 'Forum' section in the ST papers. He is the pro-govt type.

Anyone knows????

2lanu · May 20, 2009

In fact when the public is asking for clarification on why she was appointed they did answer as well. Her track record was so pathetic still she was appointed to this role of national sovereign fund.

And to argue about overall investment, what investment are we talking about? Those already held before she was in? If that is to be counted into her achievement, I bet appoint a monkey will produce result equally good as her.

ScarFace · May 20, 2009

JohnTT said:
Who is this Johnny Heng? If I remembered correctly, I saw his name appearing a few times under the 'Forum' section in the ST papers. He is the pro-govt type.

Anyone knows????

Not surprising if this is him : http://business.kent.edu/erf/singapore2005.asp
He was from GIC. Not sure if the man is still there.

halsey02 · May 20, 2009

2lanu said:
In fact when the public is asking for clarification on why she was appointed they did answer as well. Her track record was so pathetic still she was appointed to this role of national sovereign fund.

And to argue about overall investment, what investment are we talking about? Those already held before she was in? If that is to be counted into her achievement, I bet appoint a monkey will produce result equally good as her.

Who doesn;t know about investment, ask the ah pek sitting in the void deck, he can tell you about investments.....buy something cheap & keep for a LONG term, sell it when it is high, make money...that is an investment..ah pek, knows that too...

But the whole issue is not wether it is long term, short term, etc...we are not bothered with the mechanics of things, we are interested in, accountablity & transparency.

They are dealing with public funds, wether accumulated funds over the years of investments profits, that we are also , not interested.

But, we are interested is, the people they employ to make decisions on the investment, divestments..and whatever..'ments' they do with the funds; losses money, should bear responsiblity. When they make money with the investments, long term or not, it is fair to reward them, for the hard work done. But, when they looses money rapidly, due to bad decisions and so forth, HEADS must roll, benefits must be cut..and the HEAD in charge, must ROLL too...not gettibg rewards....accolades..!! :eek:

This is what we call meritocracy....nit marriedtocracy!! :wink:

ScarFace · May 20, 2009

Johnny Heng is an Equities Trader. He heads the New York Equities Trading Desk. He has been with the GIC for four years, initially trading the European
markets out of the London office. Currently, Johnny is based in the New York office.

"TRADING ON WALL STREET IS A DREAM COME TRUE. It is every stock trader’s
dream to trade on Wall Street. For me, that dream became reality in the fall of 1997, when I was transferred to our New York office. The last 31/2 years have been my most fulfilling years. In addition to trading in the world’s largest stock market, there have been immense opportunities to interact with some of the best and smartest stock market operators. I have also had the opportunity to implement the strategies of the US equities team using a plethora of trading strategies concocted by the best minds on Wall Street. I have also been stretched and challenged by the task of spearheading the trading operations in New York. Managing our team of New York-based traders, who have diverse skill sets and experience, has been an enriching and
rewarding experience."

EQUITIES TRADING DIVISION
The Equities Trading Division (ETD) was set up in 1997 with Lim Lian Sar as the division’s manager. The equities traders provide the department with specialised trading skills, ensuring the best possible execution of trades. In addition, the division provides important information to portfolio managers and research analysts such as trading flows, up-to-the-minute news and technical analysis of markets. ETD’s equities traders operate trading desks in Singapore, London and New York.

http://www.gic.com.sg/pdf/GICyearbook.pdf

annexa · May 20, 2009

GIC? If is GIC guy writing for Temasek, what kind of credibility is that letter? No have!

ScarFace · May 20, 2009

Looks like the man has been promoted as of 2004, to become the Assistant Director, Equities Department

http://www.imas.org.sg/downloads/imas/10thSIFParticipantPack.pdf

ScarFace · May 20, 2009

WOW! The man is really flying! As of 2006, promoted again to Head, Global Equities, Trading & Enhanced Indexation Group, Government of Singapore Investment Corporation

http://www.siba.org.sg/documentation/SIBA2006AR.pdf
http://74.125.153.132/search?q=cache:Eqozh9lHo00J:www.siba.org.sg/documentation/SIBA2006AR.pdf+johnny+heng&cd=10&hl=en&ct=clnk&gl=sg

TeeKee · May 20, 2009

ScarFace said:
WOW! The man is really flying! As of 2006, promoted again to Head, Global Equities, Trading & Enhanced Indexation Group, Government of Singapore Investment Corporation

Didn't GIC lost billions when he was there?

Trying to cover his own backside? :biggrin:

ScarFace · May 20, 2009

Likely the same fellow too?

http://www.moulmein.org.sg/index.php/neighbourhood-committees/45-neighbourhood-committees/66-watten-neighbourhood-committee-nc.html

Doggie Heng Supports Ho Jinx Acting Blur. U Leh?

makapaaa

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JohnTT

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2lanu

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ScarFace

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halsey02

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ScarFace

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annexa

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ScarFace

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ScarFace

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TeeKee

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ScarFace

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