The spin doctors at state-controlled Straits Times are having a busy time of late trying desperately hard to salvage the battered reputation of Temasek Holdings and that of its beleaguered CEO Ho Ching.
For the second time in less than a week, Temasek’s chief apologist Gabriel Chen wrote another half-baked article to exonerate Temasek from its earlier distastrous investments by making grandiose claims about its “recovery”.
His latest claim:
“Temasek invested more than US$500 million in the rights issues and has seen the shares rise by around 293 per cent during an eight-month period.” (read full article here)
This will translate to a gain of $146.5 million dollars. What Gabriel failed to mention is that these are unrealized gains as Temasek is still holding on to the shares.
In contrast, the losses incurred by Temasek over the sale of BOA and Barclays shares are already crystallized which means that sum of money is already gone.
Read rest of article here:
http://temasekreview.com/?p=11867
For the second time in less than a week, Temasek’s chief apologist Gabriel Chen wrote another half-baked article to exonerate Temasek from its earlier distastrous investments by making grandiose claims about its “recovery”.
His latest claim:
“Temasek invested more than US$500 million in the rights issues and has seen the shares rise by around 293 per cent during an eight-month period.” (read full article here)
This will translate to a gain of $146.5 million dollars. What Gabriel failed to mention is that these are unrealized gains as Temasek is still holding on to the shares.
In contrast, the losses incurred by Temasek over the sale of BOA and Barclays shares are already crystallized which means that sum of money is already gone.
Read rest of article here:
http://temasekreview.com/?p=11867
