Temasek lost 500M+ pounds in Barclay!

makapaaa · Jun 3, 2009

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Coffeeshop Chit Chat - Temasek lost 500M+ pounds in Barclay!</TD><TD id=msgunetc noWrap align=right>

Subscribe </TD></TR></TBODY></TABLE></CENTER><CENTER><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>kojakbt22 <NOBR>

</NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>6:50 am </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 7) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>14485.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Sources say Temasek loses at least 500m pounds from Barclays stake sale
Posted: 03 June 2009 2000 hrs
SINGAPORE : Temasek Holdings is estimated to have sold its stake in British bank Barclays at a loss of between 500 and 600 million pounds, according to sources that Channel NewsAsia checked with.

According to a Reuters report, Temasek sold its stake in Barclays in December and January, incurring a loss of more than 800 million pounds.

Both Temasek and Barclays declined to comment, and financial details of the sale are not known.

Temasek spent over 1 billion pounds on Barclays shares in the last two years.

It first bought into Barclays in July 2007 for 720 pence a share for a stake worth 975 million pounds.

Last July, Temasek pledged to spend up to 200 million pounds to buy more shares at 282 pence each as part of bigger fundraising, but never said how many shares it bought.

According to Reuters, Temasek would have spent about 90 million pounds to maintain its holding at around 2 per cent, giving it 167 million shares.

Only investors with more than 3 per cent need to disclose changes in their holdings.

LONG TERM INVESTMENT? MY FOOT!

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takcheksian · Jun 4, 2009

Their idea of long term is a few months.

Face it, that's how it works in Sinkieland. A few months after every election, voters will forget, so they will raise prices. They get away with that everytime, so why not?

makapaaa said:
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Coffeeshop Chit Chat - Temasek lost 500M+ pounds in Barclay!</TD><TD id=msgunetc noWrap align=right>

Subscribe </TD></TR></TBODY></TABLE></CENTER><CENTER><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>kojakbt22 <NOBR>

</NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>6:50 am </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 7) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>14485.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Sources say Temasek loses at least 500m pounds from Barclays stake sale
Posted: 03 June 2009 2000 hrs
SINGAPORE : Temasek Holdings is estimated to have sold its stake in British bank Barclays at a loss of between 500 and 600 million pounds, according to sources that Channel NewsAsia checked with.

According to a Reuters report, Temasek sold its stake in Barclays in December and January, incurring a loss of more than 800 million pounds.

Both Temasek and Barclays declined to comment, and financial details of the sale are not known.

Temasek spent over 1 billion pounds on Barclays shares in the last two years.

It first bought into Barclays in July 2007 for 720 pence a share for a stake worth 975 million pounds.

Last July, Temasek pledged to spend up to 200 million pounds to buy more shares at 282 pence each as part of bigger fundraising, but never said how many shares it bought.

According to Reuters, Temasek would have spent about 90 million pounds to maintain its holding at around 2 per cent, giving it 167 million shares.

Only investors with more than 3 per cent need to disclose changes in their holdings.

LONG TERM INVESTMENT? MY FOOT!
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makapaaa · Jun 4, 2009

<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published June 3, 2009

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Abu Dhabi sells Barclays stake, gains US$2.5b
Move raises fears other big investors may also cash out

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</TD><TD>Feedback</TD></TR></TBODY></TABLE>(LONDON) Abu Dhabi sold more than 11 per cent of Barclays, making US$2.5 billion from an investment that helped the British bank through the financial crisis and raising fears more may cash in on a recent rally in bank shares.

The Abu Dhabi government-owned International Petroleum Investment Company (IPIC) yesterday sold about £3.5 billion (S$8.3 billion) worth of instruments that are due to convert into Barclays shares by the end of June.
The shares were sold at 265 pence a share, said Credit Suisse, which handled the sale. The placing was at a 16 per cent discount from Monday's close of 316.25 pence.
The sale also stoked fears that other big Barclays investors may also look to take profits, and that other sovereign wealth funds might be looking to exit the investments they have made. Barclays raised funds from Qatar, China, Japan and Singapore investors last year.
'This tactical move brings into question any foreign investment in major companies - in particular investment from the Middle East,' said Manoj Ladwa, senior trader at London spread betters ETX Capital. 'I would expect further falls from companies with similar exposure.'
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</TD></TR></TBODY></TABLE>'It's clearly a negative signal for the banking sector,' said David Thebault at Global Equities in Paris. 'After stepping in at the beginning of the credit crisis to buy stakes in troubled banks, these guys (Abu Dhabi) are now saying: 'the recovery rally in financial stocks is over and the shares are now ripe for profit taking'.'
IPIC, an investment vehicle of the Abu Dhabi royal family, will have almost doubled its money since buying the mandatorily convertible notes (MCNs) in October, when Barclays raised funds privately rather than take a handout from the UK taxpayer.
The MCNs are due to convert into about 1.3 billion shares at 153 pence per share before the end of this month. Including the conversion of other MCNs sold last year but excluding warrants held by Abu Dhabi and others, the stake sold represents just over 11 per cent of the British bank.
Barclays shares have soared more than five-fold in the last three months, after Britain's regulator said its capital was adequate.
IPIC said it was also considering selling £1.25 billion of another capital instrument it bought at the same time - reserve capital instruments that pay annual interest of 14 per cent - but had no plans to sell its warrants.
Abu Dhabi invested up to £4.75 billion in Barclays, including £1.5 billion on warrants exercisable at 197 pence. Its stake will fall to about 5-6 per cent with just the exercised warrants, from potentially just over 16 per cent.
IPIC said it had a 'high regard' for Barclays and its management and strategy, but it was focusing its strategy on hydrocarbon-related investments. -- Reuters

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po2wq · Jun 4, 2009

sold boa @ a big loss! ...

sold barclays @ a big loss! ...

world crass! ... world's best! ... world no 1! ...

johnny333 · Jun 4, 2009

po2wq said:
sold boa @ a big loss! ...

sold barclays @ a big loss! ...

world crass! ... world's best! ... world no 1! ...

Last week the BBC reported that questions would be asked in the Spore Parliament about the sale of Bank of America.

I don't read the local press so couldn't follow up.

Did any MP dare to ask why a long term investment become a short term lost :confused:

annexa · Jun 4, 2009

KNN! Long term?! CCB!

po2wq · Jun 4, 2009

johnny333 said:
Last week the BBC reported that questions would be asked in the Spore Parliament about the sale of Bank of America.

I don't read the local press so couldn't follow up.

Did any MP dare to ask why a long term investment become a short term lost

dunno leh ...

me oso dun read 154th ...

johnny333 · Jun 4, 2009

po2wq said:
dunno leh ...

me oso dun read 154th ...

Maybe someone from the truth brigade can provide the "official" info

mercbenz · Jun 4, 2009

Without spending a cent, how come I keep feeling poorer? Oh, seems like I will have to 'TOP UP' somewhere somehow here and there THEIR losses.

All this gigantic losses are criminal? Won't there be an inquiry?

annexa · Jun 4, 2009

mercbenz said:
Without spending a cent, how come I keep feeling poorer? Oh, seems like I will have to 'TOP UP' somewhere somehow here and there THEIR losses.

All this gigantic losses are criminal? Won't there be an inquiry?

Yes. Must have inquiry! Where is the due diligent?

Einfield · Jun 4, 2009

annexa said:
Yes. Must have inquiry! Where is the due diligent?

The root of the problem all leads back to one man call Dirty Hairy, aka Dracula, aka Old Fart.

Nepotism lead to appointing daughter in law with no investment background to run state own funds, aka our money.

Because it is own family, therefor no transparency, no accountability, no questioning.

When shit hits the fan, just resign and pass the shit bucket to a highly paid FT.

MarrickG · Jun 4, 2009

Power leh...At least got some guidance. From now on, when trading stock just do the opposite of what Temasek is doing...sure win one...:p

saratogas · Jun 4, 2009

Past few days I heard everyone earning big bucks through investments... only Temasek Holdings lose $$$! Strange?

zuoom · Jun 4, 2009

never a better time to cash out now for those caught in the last drop. in fact, may even gain as per what Abu Dhabi did.

Temasek lost 500M+ pounds in Barclay!

makapaaa

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takcheksian

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makapaaa

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po2wq

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johnny333

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annexa

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po2wq

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johnny333

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mercbenz

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annexa

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Einfield

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MarrickG

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saratogas

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zuoom

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